Oribel Capital Management, LP In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), Oribel Capital Management, LP reported 34 stock positions worth $1.2 billion . Its top holding was Microsoft (MSFT) at 31.0% of the portfolio, followed by Nvidia (NVDA, 7.3% ) and AT&T (T, 6.3% ). Compared with Q2 2025, it opened 14 new positions, sold out of 27, added to 6 and reduced 13. The biggest buy was a new position in Walmart (WMT) and the biggest sale an exit from Amazon.com (AMZN).
Location NEW YORK, NY
CIK 0001661140
Portfolio Value $1.2B (Q3 2025) Holdings 34 stocks · $1.2B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q2 2025 MSFT Microsoft Corp. 135,100 $385.6M Reduce -46.0% NVDA Nvidia Corp. 483,900 $90.3M Reduce -37.5% T AT&T Inc. 2,772,400 $78.3M Reduce -18.7% WMT Walmart Inc. 575,900 $59.4M New AVGO Broadcom Inc. 179,600 $59.3M Add +75.7% CAH Cardinal Health Inc. 377,100 $59.2M Reduce -3.9% GOOGL Alphabet Inc. Class A 241,000 $58.6M New COOP Mr Cooper Group Inc. 271,300 $57.2M Add +12.1% KEYS Keysight Technologies Inc. 282,200 $49.4M Add +503.0% AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 128,700 $39.9M New ECL Ecolab Inc. 130,900 $35.8M Reduce -6.8% TEL Te Connectivity PLC 152,800 $33.5M New SANM Sanmina Corp. 270,900 $31.2M Add +23.3% JCI Johnson Controls Internation 196,500 $21.6M Reduce -73.2% TRMB Trimble Inc. 246,500 $20.1M Reduce -41.7% CSCO Cisco Systems Inc. 293,400 $20.1M New SHOP Shopify Inc. Class A 132,300 $19.7M New TMO Thermo Fisher Scientific Inc. 40,400 $19.6M New HEI Heico Corp. 43,900 $14.2M Reduce -72.2% ADSK Autodesk Inc. 34,700 $11.0M Reduce -87.7% TTWO Take-Two Interactive Softwre 40,600 $10.5M Reduce -2.4% CLS Celestica Inc. 41,200 $10.2M Reduce -50.1% NOW ServiceNow Inc. 10,700 $9.8M New AAPL Apple Inc. 38,500 $9.8M New HPE Hewlett Packard Enterprise 313,600 $7.7M New QXO Qxo Inc. 298,500 $5.7M New SPY SS SPDR S&P 500 ETF Trust-US 7,700 $5.1M No change CIEN Ciena Corp. 29,000 $4.2M New GE General Electric filed as GE AEROSPACE 13,700 $4.1M New APH Amphenol Corp. Class A 32,200 $4.0M Reduce -88.8% QQQ Invesco QQQ Trust Series 1 4,300 $2.6M Add +22.9% TSM Taiwan Semiconductor-SP ADR 7,400 $2.1M Reduce -97.4% NET Cloudflare Inc. Class A 8,700 $1.9M Add +4.8% ARX Accelerant Holdings Class A 25,900 $386K New
Options reported separately and not counted above: MSFT calls ($422.5M), KKR calls ($102.5M), BX calls ($96.2M), GOOGL calls ($86.8M), AON calls ($75.8M), WM calls ($70.4M), ARES calls ($60.3M), NVDA puts ($60.2M), MSFT puts ($59.5M), AVGO puts ($59.3M), CAH puts ($59.2M), GOOG puts ($58.7M), and 33 more.
Portfolio Sells Q2 2025 → Q3 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2025 % Of Portfolio Change To Portfolio ▲ AMZN Amazon.com Inc. Sold out 0.00% −5.52 SAP Sap SE-Sponsored ADR Sold out 0.00% −4.60 AMT American Tower Corp. Sold out 0.00% −4.03 ADSK Autodesk Inc. Reduce -87.7% 0.89% −3.75 BX Blackstone Inc. Sold out 0.00% −3.68 MCHP Microchip Technology Inc. Sold out 0.00% −3.48 TSM Taiwan Semiconductor-SP ADR Reduce -97.4% 0.17% −3.28 MCO Moody's Corp. Sold out 0.00% −2.80 AMD Advanced Micro Devices Sold out 0.00% −2.56 KKR KKR & Co. Inc. Sold out 0.00% −2.54 JCI Johnson Controls Internation Reduce -73.2% 1.74% −2.36 TWLO Twilio Inc. Class A Sold out 0.00% −1.98 COR Cencora Inc. Sold out 0.00% −1.98 NFLX Netflix Inc. Sold out 0.00% −1.96 MELI MercadoLibre Inc. Sold out 0.00% −1.95 SPOT Spotify Technology SA Sold out 0.00% −1.95 GRMN Garmin Ltd. Sold out 0.00% −1.85 HEI Heico Corp. Reduce -72.2% 1.14% −1.61 HSIC Henry Schein Inc. Sold out 0.00% −1.58 CTAS Cintas Corp. Sold out 0.00% −1.50 APH Amphenol Corp. Class A Reduce -88.8% 0.32% −1.19 ARM Arm Holdings PLC-ADR Sold out 0.00% −1.08 ARES Ares Management Corp. Class A Sold out 0.00% −1.05 PAYX Paychex Inc. Sold out 0.00% −1.02 FNF Fidelity National Financial Sold out 0.00% −0.76 WBD Warner Bros Discovery Inc. Sold out 0.00% −0.69 XYZ Block Inc. Sold out 0.00% −0.62 DDOG Datadog Inc. Class A Sold out 0.00% −0.56 FIS Fidelity National Info Serv Sold out 0.00% −0.47 RSG Republic Services Inc. Sold out 0.00% −0.47 NWSA News Corp. Class A Sold out 0.00% −0.39 STX Seagate Technology Holdings Sold out 0.00% −0.36 TRMB Trimble Inc. Reduce -41.7% 1.62% −0.08 CLS Celestica Inc. Reduce -50.1% 0.82% +0.14 TTWO Take-Two Interactive Softwre Reduce -2.4% 0.84% +0.31 NVDA Nvidia Corp. Reduce -37.5% 7.27% +0.79 ECL Ecolab Inc. Reduce -6.8% 2.89% +0.88 T AT&T Inc. Reduce -18.7% 6.30% +1.08 CAH Cardinal Health Inc. Reduce -3.9% 4.77% +1.27 MSFT Microsoft Corp. Reduce -46.0% 31.05% +24.46
Portfolio Buys Q2 2025 → Q3 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2025 % Of Portfolio Change To Portfolio ▼ WMT Walmart Inc. New 4.78% +4.78 GOOGL Alphabet Inc. Class A New 4.72% +4.72 KEYS Keysight Technologies Inc. Add +503.0% 3.98% +3.57 AVGO Broadcom Inc. Add +75.7% 4.77% +3.28 AJG Arthur J Gallagher & Co. New 3.21% +3.21 TEL Te Connectivity PLC New 2.70% +2.70 COOP Mr Cooper Group Inc. Add +12.1% 4.61% +2.69 CSCO Cisco Systems Inc. New 1.62% +1.62 SHOP Shopify Inc. Class A New 1.58% +1.58 TMO Thermo Fisher Scientific Inc. New 1.58% +1.58 SANM Sanmina Corp. Add +23.3% 2.51% +1.37 NOW ServiceNow Inc. New 0.79% +0.79 AAPL Apple Inc. New 0.79% +0.79 HPE Hewlett Packard Enterprise New 0.62% +0.62 QXO Qxo Inc. New 0.46% +0.46 CIEN Ciena Corp. New 0.34% +0.34 GE General Electric New 0.33% +0.33 QQQ Invesco QQQ Trust Series 1 Add +22.9% 0.21% +0.11 NET Cloudflare Inc. Class A Add +4.8% 0.15% +0.06 ARX Accelerant Holdings Class A New 0.03% +0.03
Options Activity Q2 2025 → Q3 2025 Security Type Change vs Q2 2025 Underlying Shares Value ▼ MSFT Microsoft Corp. call New 744,400 $422.5M KKR KKR & Co. Inc. call New 789,000 $102.5M BX Blackstone Inc. call Add +307.9% 563,300 $96.2M GOOGL Alphabet Inc. Class A call New 356,400 $86.8M KKR KKR & Co. Inc. put Sold out 597,600 $79.5Mbefore exit SAP Sap SE-Sponsored ADR put Sold out 253,200 $77.0Mbefore exit AON Aon PLC Class A call New 212,500 $75.8M WM Waste Management Inc. call Add +97.7% 318,700 $70.4M BX Blackstone Inc. put Sold out 464,400 $69.5Mbefore exit TSM Taiwan Semiconductor-SP ADR put Sold out 287,300 $65.1Mbefore exit MCK McKesson Corp. put Sold out 83,400 $61.1Mbefore exit ARES Ares Management Corp. Class A call New 376,900 $60.3M NVDA Nvidia Corp. put New 322,500 $60.2M MSFT Microsoft Corp. put New 114,900 $59.5M AVGO Broadcom Inc. put New 179,600 $59.3M CAH Cardinal Health Inc. put Add +8.6% 377,100 $59.2M GOOG Alphabet Inc. Class C put New 241,000 $58.7M TMUS T-Mobile US Inc. call Sold out 241,500 $57.5Mbefore exit AVGO Broadcom Inc. call New 156,000 $51.5M ORCL Oracle Corp. call Sold out 234,300 $51.2Mbefore exit ADSK Autodesk Inc. put Sold out 163,600 $50.6Mbefore exit TMO Thermo Fisher Scientific Inc. call New 102,000 $49.5M AMD Advanced Micro Devices put Sold out 340,600 $48.3Mbefore exit ITB iShares U.S. Home Constructi call Sold out 509,400 $47.5Mbefore exit HYMB SS SPDR N Ice HY Muni ETF call Sold out 608,200 $46.9Mbefore exit IYZ iShares US Telecommunication call Sold out 187,500 $44.8Mbefore exit MCK McKesson Corp. call Sold out 60,700 $44.5Mbefore exit MCO Moody's Corp. put Sold out 85,600 $42.9Mbefore exit HEI Heico Corp. put Sold out 128,000 $42.0Mbefore exit VZ Verizon Communications Inc. call Reduce -48.8% 904,700 $39.8M IJJ iShares S&P Mid-Cap 400 Valu call Sold out 183,600 $39.6Mbefore exit CME Cme Group Inc. call Add +107.0% 145,500 $39.3M KEYS Keysight Technologies Inc. put New 221,300 $38.7M EMR Emerson Electric Co. call Sold out 288,700 $38.5Mbefore exit TEL Te Connectivity PLC call Sold out 227,900 $38.4Mbefore exit COR Cencora Inc. put Sold out 124,800 $37.4Mbefore exit MELI MercadoLibre Inc. put Sold out 14,100 $36.9Mbefore exit SPOT Spotify Technology SA put Sold out 48,000 $36.8Mbefore exit GRMN Garmin Ltd. put Sold out 167,400 $34.9Mbefore exit AJG Arthur J Gallagher & Co. call New 110,700 $34.3M SANM Sanmina Corp. call Sold out 349,700 $34.2Mbefore exit WM Waste Management Inc. put Sold out 141,800 $32.4Mbefore exit GWW WW Grainger Inc. call Sold out 31,000 $32.2Mbefore exit WDAY Workday Inc. Class A call Reduce -43.8% 133,600 $32.2M SANM Sanmina Corp. put New 270,900 $31.2M ZM Zoom Communications Inc. call Sold out 390,600 $30.5Mbefore exit ECL Ecolab Inc. call New 111,200 $30.5M AJG Arthur J Gallagher & Co. put New 96,900 $30.0M SOXX iShares Semiconductor ETF call New 109,700 $29.7M CHTR Charter Communications Inc. Class A call Sold out 72,100 $29.5Mbefore exit
Showing the first 50 of 97.
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 50 $1.2B ADI, JBL, MMM, TXN, FLEX Q1 2026 41 $657.5M GE, CSCO, JBL, AEIS, KEYS Q4 2025 51 $1.0B GOOGL, MSI, TSM, TEL, NVDA Q3 2025 34 $1.2B MSFT, NVDA, T, WMT, AVGO Q2 2025 47 $1.9B MSFT, NVDA, AMZN, T, ADSK Q1 2025 32 $804.6M CAH, META, COR, MCK, TRMB Q4 2024 40 $1.5B CRM, NFLX, NVDA, MSFT, NOW Q3 2024 34 $915.6M MSFT, WM, NVDA, ECL, CRM Q2 2024 27 $737.6M TSM, AAPL, ACN, APH, NVDA Q1 2024 36 $871.2M AMZN, TSM, SNPS, CRM, MSFT