Paloma Partners Management Co
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Paloma Partners Management Co reported 60 stock positions worth $219.4 million. Its top holding was Wolfspeed (WOLF) at 7.4% of the portfolio, followed by Bitdeer Technologies Group-A (BTDR, 6.8%) and Advanced Micro Devices (AMD, 5.3%). Compared with Q2 2025, it opened 32 new positions, sold out of 45, added to 17 and reduced 9. The biggest buy was a new position in Wolfspeed (WOLF) and the biggest sale an exit from Core Scientific (CORZ).
- Most Recent 13F
- Q2 2026
- Location
- GREENWICH, CT
- CIK
- 0001103882
- Portfolio Value
- $219.4M (Q3 2025)
- SEC Filing
- 0001103882-25-000011 ↗ filed Nov 14, 2025
Holdings Value
Holdings 60 stocks · $219.4M
| WOLF Wolfspeed Inc. | 7.35% | 563,947 | $16.1M | New |
| BTDR Bitdeer Technologies Group-A | 6.83% | 877,200 | $15.0M | New |
| AMD Advanced Micro Devices | 5.35% | 72,500 | $11.7M | Add +4973.5% |
| TLT iShares 20+ Year Treasury BD | 4.07% | 100,000 | $8.9M | No change |
| HPE Hewlett Packard Enterprise | 3.36% | 300,000 | $7.4M | Add +11.1% |
| INTC Intel Corp. | 3.13% | 205,000 | $6.9M | Reduce -25.4% |
| AVGO Broadcom Inc. | 3.01% | 20,000 | $6.6M | Reduce -51.2% |
| HUBS HubSpot Inc. | 2.88% | 13,515 | $6.3M | New |
| RIG Transocean Ltd. | 2.84% | 2,000,000 | $6.2M | Reduce -52.4% |
| AFRM Affirm Holdings Inc. | 2.83% | 85,087 | $6.2M | Reduce -9.3% |
| TSEM Tower Semiconductor Ltd. | 2.80% | 85,000 | $6.1M | New |
| NOW ServiceNow Inc. | 2.57% | 6,124 | $5.6M | Add +512.4% |
| OPTU Optimum Communications Inc. Class A filed as ALTICE USA INC | 2.47% | 2,247,922 | $5.4M | Reduce -20.9% |
| TEAM Atlassian Corp. Class A | 2.43% | 33,375 | $5.3M | Add +179.0% |
| HAS Hasbro Inc. | 2.28% | 66,001 | $5.0M | Add +300.0% |
| BRZE Braze Inc. Class A | 2.07% | 159,979 | $4.5M | Add +72.8% |
| ON On Semiconductor | 2.02% | 90,000 | $4.4M | New |
| ESTC Elastic NV | 1.95% | 50,730 | $4.3M | Add +270.6% |
| CRM Salesforce Inc. | 1.94% | 17,947 | $4.3M | Add +16.3% |
| LVS Las Vegas Sands Corp. | 1.91% | 77,796 | $4.2M | Add +57.7% |
| TER Teradyne Inc. | 1.88% | 30,000 | $4.1M | New |
| RCL Royal Caribbean Cruises Ltd. | 1.84% | 12,500 | $4.0M | New |
| KVYO Klaviyo Inc. Class A | 1.77% | 140,238 | $3.9M | New |
| RRR Red Rock Resorts Inc. Class A | 1.75% | 63,000 | $3.8M | Add +46.5% |
| TTWO Take-Two Interactive Softwre | 1.71% | 14,500 | $3.7M | Add +45.0% |
| NVDA Nvidia Corp. | 1.70% | 20,000 | $3.7M | Reduce -50.0% |
| BYD Boyd Gaming Corp. | 1.58% | 40,000 | $3.5M | New |
| ADBE Adobe Inc. | 1.53% | 9,501 | $3.4M | Add +58.1% |
| OKTA Okta Inc. | 1.45% | 34,789 | $3.2M | Add +25.5% |
| CCL Carnival Corp. | 1.45% | 110,000 | $3.2M | New |
| MSFT Microsoft Corp. | 1.33% | 5,639 | $2.9M | Add +72.2% |
| SNOW Snowflake Inc. | 1.29% | 12,520 | $2.8M | New |
| NBIS Nebius Group NV | 1.13% | 22,000 | $2.5M | New |
| WH Wyndham Hotels & Resorts Inc. | 1.09% | 30,000 | $2.4M | Add +140.0% |
| ALGM Allegro Microsystems Inc. | 1.00% | 75,000 | $2.2M | New |
| COHR Coherent Corp. | 0.98% | 20,000 | $2.2M | New |
| SMTC Semtech Corp. | 0.98% | 30,000 | $2.1M | New |
| ROG Rogers Corp. | 0.92% | 25,000 | $2.0M | New |
| WDAY Workday Inc. Class A | 0.77% | 7,000 | $1.7M | Reduce -41.4% |
| S Sentinelone Inc. Class A | 0.76% | 95,000 | $1.7M | New |
| HUDSON PAC PPTYS INC | 0.75% | 600,000 | $1.7M | Add +50.0% |
| BE Bloom Energy Corp. Class A | 0.73% | 19,000 | $1.6M | New |
| AIFC AI Financial Corp. filed as ALT5 SIGMA CORP | 0.68% | 554,540 | $1.5M | New |
| HAL Halliburton Co. | 0.67% | 60,000 | $1.5M | New |
| CRWV Coreweave Inc. Class A | 0.62% | 9,999 | $1.4M | New |
| LCID Lucid Group Inc. | 0.62% | 57,500 | $1.4M | New |
| AMZN Amazon.com Inc. | 0.60% | 6,000 | $1.3M | New |
| CNF Cnfinance Holdings Ltd. | 0.58% | 305,337 | $1.3M | No change |
| PANW Palo Alto Networks Inc. | 0.46% | 5,000 | $1.0M | New |
| DMIIU Drugs Made in America Acquis | 0.45% | 100,000 | $995K | New |
| UNIT Uniti Group Inc. | 0.44% | 156,850 | $960K | Reduce -63.9% |
| DDOG Datadog Inc. Class A | 0.44% | 6,713 | $956K | Add +39.0% |
| SMR Nuscale Power Corp. | 0.39% | 24,000 | $864K | New |
| ORCL Oracle Corp. | 0.38% | 3,000 | $844K | Reduce -57.1% |
| PRMB Primo Brands Corp. | 0.30% | 30,000 | $663K | New |
| TNL Travel + Leisure Co. | 0.27% | 10,000 | $595K | New |
| NIO Nio Inc. - ADR | 0.26% | 75,000 | $572K | New |
| OTGAU Otg Acquisition Corp. I | 0.18% | 40,000 | $403K | New |
| EOSE Eos Energy Enterprises Inc. | 0.08% | 15,099 | $172K | New |
| FCRS.U Futurecrest Acquisition Corp. | 0.05% | 10,000 | $106K | New |
Options reported separately and not counted above: CORZ calls ($49.0M), BTDR calls ($21.5M), GT calls ($16.1M), CIFR calls ($8.8M), NWL calls ($6.8M), HAL calls ($3.7M).
Other holdings (10): bonds, preferreds, convertibles and warrants · $283.1M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | 61,500,000 | $113.2M | Add +310.0% |
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | 20,030,000 | $49.3M | New |
| NIO INC (NIO 4.625 10/15/30) | NOTE 4.625%10/1 · principal | 33,516,000 | $36.0M | Reduce -27.1% |
| TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) | NOTE 0.750% 6/1 · principal | 26,039,000 | $33.3M | Add +52.8% |
| COINBASE GLOBAL INC (COIN 0.25 04/01/30) | NOTE 0.250% 4/0 · principal | 13,684,000 | $17.2M | New |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | NOTE 1.500%12/1 · principal | 5,000,000 | $12.1M | New |
| LI AUTO INC (LI 0.25 05/01/28) | NOTE 0.250% 5/0 · principal | 8,925,000 | $10.2M | New |
| GUESS INC (GES 3.75 04/15/28) | NOTE 3.750% 4/1 · principal | 7,623,000 | $7.7M | Reduce -54.0% |
| XEROX HOLDINGS CORP (XRX 3.75 03/15/30) | NOTE 3.750% 3/1 · principal | 6,000,000 | $2.9M | No change |
| LIBERTY INTERACTIVE LLC (LINTA 4 11/15/29) | DEB 4.000%11/1 · principal | 10,000,000 | $1.1M | Add +42.9% |
Total filed on the 13F, all lines: $502.5M.
Portfolio Sells Q2 2025 → Q3 2025
| CORZ Core Scientific Inc. | Sold out | 0.00% | −4.41 |
| XLK SS Technology Select Sector | Sold out | 0.00% | −4.28 |
| LSCC Lattice Semiconductor Corp. | Sold out | 0.00% | −4.22 |
| AGG iShares Core U.S. Aggregate | Sold out | 0.00% | −3.91 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Sold out | 0.00% | −3.26 |
| ANET Arista Networks Inc. | Sold out | 0.00% | −3.08 |
| IREN Iren Ltd. | Sold out | 0.00% | −2.91 |
| VTI VG Morningstar TS MKT ETF-US | Sold out | 0.00% | −2.75 |
| AAPL Apple Inc. | Sold out | 0.00% | −2.65 |
| XLY SS Consumer Disc Select Sect | Sold out | 0.00% | −2.25 |
| AVGO Broadcom Inc. | Reduce -51.2% | 3.01% | −1.86 |
| RIG Transocean Ltd. | Reduce -52.4% | 2.84% | −1.84 |
| EFA iShares MSCI Eafe ETF | Sold out | 0.00% | −1.81 |
| XLV SS Health Care Select Sector | Sold out | 0.00% | −1.81 |
| XLF SS Financial Select Sector | Sold out | 0.00% | −1.58 |
| ADI Analog Devices Inc. | Sold out | 0.00% | −1.54 |
| XLI SS Industrial Select Sector | Sold out | 0.00% | −1.23 |
| IOT Samsara Inc. Class A | Sold out | 0.00% | −1.14 |
| DKNG Draftkings Inc. Class A | Sold out | 0.00% | −1.12 |
| CHKP Check Point Software Tech | Sold out | 0.00% | −1.07 |
| XLB SS Materials Select Sector | Sold out | 0.00% | −1.03 |
| NVDA Nvidia Corp. | Reduce -50.0% | 1.70% | −1.02 |
| QQQ Invesco QQQ Trust Series 1 | Sold out | 0.00% | −1.00 |
| H Hyatt Hotels Corp. Class A | Sold out | 0.00% | −0.99 |
| XLP SS Consumer Staples Sel Sect | Sold out | 0.00% | −0.93 |
| UNIT Uniti Group Inc. | Reduce -63.9% | 0.44% | −0.90 |
| SNPS Synopsys Inc. | Sold out | 0.00% | −0.88 |
| CZR Caesars Entertainment Inc. | Sold out | 0.00% | −0.88 |
| TENB Tenable Holdings Inc. | Sold out | 0.00% | −0.63 |
| CELC Celcuity Inc. | Sold out | 0.00% | −0.47 |
| ALAB Astera Labs Inc. | Sold out | 0.00% | −0.47 |
| WDAY Workday Inc. Class A | Reduce -41.4% | 0.77% | −0.47 |
| XLE SS Energy Select Sector | Sold out | 0.00% | −0.45 |
| NUVL Nuvalent Inc. Class A | Sold out | 0.00% | −0.41 |
| HRMY Harmony Biosciences Holdings | Sold out | 0.00% | −0.40 |
| MRVL Marvell Technology Inc. | Sold out | 0.00% | −0.40 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Sold out | 0.00% | −0.39 |
| MREO Mereo Biopharma Group PL-ADR | Sold out | 0.00% | −0.35 |
| ABVX Abivax SA-ADR | Sold out | 0.00% | −0.31 |
| ORCL Oracle Corp. | Reduce -57.1% | 0.38% | −0.27 |
| TWLO Twilio Inc. Class A | Sold out | 0.00% | −0.26 |
| VRNS Varonis Systems Inc. | Sold out | 0.00% | −0.25 |
| RZLT Rezolute Inc. | Sold out | 0.00% | −0.24 |
| DNTH Dianthus Therapeutics Inc. | Sold out | 0.00% | −0.23 |
| IONS Ionis Pharmaceuticals Inc. | Sold out | 0.00% | −0.21 |
| GPCR Structure Therapeutics Inc. | Sold out | 0.00% | −0.19 |
| JAZZ Jazz Pharmaceuticals PLC | Sold out | 0.00% | −0.16 |
| OPTU Optimum Communications Inc. Class A | Reduce -20.9% | 2.47% | −0.15 |
| BCYC Bicycle Therapeutics PLC-ADR | Sold out | 0.00% | −0.12 |
| WEN The Wendy's Co. | Sold out | 0.00% | −0.09 |
Portfolio Buys Q2 2025 → Q3 2025
| WOLF Wolfspeed Inc. | New | 7.35% | +7.35 |
| BTDR Bitdeer Technologies Group-A | New | 6.83% | +6.83 |
| AMD Advanced Micro Devices | Add +4973.5% | 5.35% | +5.26 |
| HUBS HubSpot Inc. | New | 2.88% | +2.88 |
| TSEM Tower Semiconductor Ltd. | New | 2.80% | +2.80 |
| NOW ServiceNow Inc. | Add +512.4% | 2.57% | +2.13 |
| ON On Semiconductor | New | 2.02% | +2.02 |
| TER Teradyne Inc. | New | 1.88% | +1.88 |
| RCL Royal Caribbean Cruises Ltd. | New | 1.84% | +1.84 |
| KVYO Klaviyo Inc. Class A | New | 1.77% | +1.77 |
| HAS Hasbro Inc. | Add +300.0% | 2.28% | +1.76 |
| BYD Boyd Gaming Corp. | New | 1.58% | +1.58 |
| ESTC Elastic NV | Add +270.6% | 1.95% | +1.46 |
| CCL Carnival Corp. | New | 1.45% | +1.45 |
| TEAM Atlassian Corp. Class A | Add +179.0% | 2.43% | +1.38 |
| SNOW Snowflake Inc. | New | 1.29% | +1.29 |
| NBIS Nebius Group NV | New | 1.13% | +1.13 |
| ALGM Allegro Microsystems Inc. | New | 1.00% | +1.00 |
| LVS Las Vegas Sands Corp. | Add +57.7% | 1.91% | +0.98 |
| COHR Coherent Corp. | New | 0.98% | +0.98 |
| HPE Hewlett Packard Enterprise | Add +11.1% | 3.36% | +0.98 |
| SMTC Semtech Corp. | New | 0.98% | +0.98 |
| BRZE Braze Inc. Class A | Add +72.8% | 2.07% | +0.95 |
| ROG Rogers Corp. | New | 0.92% | +0.92 |
| RRR Red Rock Resorts Inc. Class A | Add +46.5% | 1.75% | +0.79 |
| S Sentinelone Inc. Class A | New | 0.76% | +0.76 |
| BE Bloom Energy Corp. Class A | New | 0.73% | +0.73 |
| AIFC AI Financial Corp. | New | 0.68% | +0.68 |
| HAL Halliburton Co. | New | 0.67% | +0.67 |
| TTWO Take-Two Interactive Softwre | Add +45.0% | 1.71% | +0.66 |
| WH Wyndham Hotels & Resorts Inc. | Add +140.0% | 1.09% | +0.66 |
| MSFT Microsoft Corp. | Add +72.2% | 1.33% | +0.63 |
| CRWV Coreweave Inc. Class A | New | 0.62% | +0.62 |
| LCID Lucid Group Inc. | New | 0.62% | +0.62 |
| AMZN Amazon.com Inc. | New | 0.60% | +0.60 |
| ADBE Adobe Inc. | Add +58.1% | 1.53% | +0.53 |
| PANW Palo Alto Networks Inc. | New | 0.46% | +0.46 |
| DMIIU Drugs Made in America Acquis | New | 0.45% | +0.45 |
| SMR Nuscale Power Corp. | New | 0.39% | +0.39 |
| PRMB Primo Brands Corp. | New | 0.30% | +0.30 |
| HUDSON PAC PPTYS INC | Add +50.0% | 0.75% | +0.28 |
| TNL Travel + Leisure Co. | New | 0.27% | +0.27 |
| OKTA Okta Inc. | Add +25.5% | 1.45% | +0.26 |
| NIO Nio Inc. - ADR | New | 0.26% | +0.26 |
| OTGAU Otg Acquisition Corp. I | New | 0.18% | +0.18 |
| DDOG Datadog Inc. Class A | Add +39.0% | 0.44% | +0.16 |
| CRM Salesforce Inc. | Add +16.3% | 1.94% | +0.13 |
| EOSE Eos Energy Enterprises Inc. | New | 0.08% | +0.08 |
| FCRS.U Futurecrest Acquisition Corp. | New | 0.05% | +0.05 |
Options Activity Q2 2025 → Q3 2025
| SPY SS SPDR S&P 500 ETF Trust-US | put | Sold out | 164,000 | $101.3Mbefore exit |
| IWM iShares Russell 2000 ETF | put | Sold out | 230,000 | $49.6Mbefore exit |
| CORZ Core Scientific Inc. | call | Add +44.6% | 2,732,000 | $49.0M |
| IREN Iren Ltd. | call | Sold out | 1,535,000 | $22.4Mbefore exit |
| BTDR Bitdeer Technologies Group-A | call | Add +25.1% | 1,260,200 | $21.5M |
| GT Goodyear Tire & Rubber Co. | call | New | 2,154,800 | $16.1M |
| CIFR Cipher Digital Inc. | call | New | 697,500 | $8.8M |
| NWL Newell Brands Inc. | call | Add +18.2% | 1,300,000 | $6.8M |
| VFC VF Corp. | call | Sold out | 500,000 | $5.9Mbefore exit |
| M Macy's Inc. | call | Sold out | 500,000 | $5.8Mbefore exit |
| HOUS Anywhere Real Estate Inc. | call | Sold out | 1,550,000 | $5.6Mbefore exit |
| HAL Halliburton Co. | call | New | 150,000 | $3.7M |
| NIO Nio Inc. - ADR | put | Sold out | 250,000 | $858Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2025 → Q3 2025
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | Add +310.0% | 61,500,000 | $113.2M |
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | New | 20,030,000 | $49.3M |
| SSR MINING INC (SSRMCN 2.5 04/01/39) | NOTE 2.500% 4/0 · principal | Sold out | 42,769,000 | $44.7Mbefore exit |
| NIO INC (NIO 4.625 10/15/30) | NOTE 4.625%10/1 · principal | Reduce -27.1% | 33,516,000 | $36.0M |
| TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) | NOTE 0.750% 6/1 · principal | Add +52.8% | 26,039,000 | $33.3M |
| NIO INC (NIO 3.875 10/15/29) | NOTE 3.875%10/1 · principal | Sold out | 30,252,000 | $21.9Mbefore exit |
| WOLF Wolfspeed Inc. (wolf 1.75 05/01/26) | NOTE 1.750% 5/0 · principal | Sold out | 43,938,000 | $18.0Mbefore exit |
| COINBASE GLOBAL INC (COIN 0.25 04/01/30) | NOTE 0.250% 4/0 · principal | New | 13,684,000 | $17.2M |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | NOTE 1.500%12/1 · principal | New | 5,000,000 | $12.1M |
| LI AUTO INC (LI 0.25 05/01/28) | NOTE 0.250% 5/0 · principal | New | 8,925,000 | $10.2M |
| JD.COM INC (JD 0.25 06/01/29) | NOTE 0.250% 6/0 · principal | Sold out | 9,000,000 | $9.4Mbefore exit |
| MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30) | NOTE 0.750% 6/0 · principal | Sold out | 8,350,000 | $8.2Mbefore exit |
| GUESS INC (GES 3.75 04/15/28) | NOTE 3.750% 4/1 · principal | Reduce -54.0% | 7,623,000 | $7.7M |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | Sold out | 8,000,000 | $7.6Mbefore exit |
| WOLF Wolfspeed Inc. (wolf 1.875 12/01/29) | NOTE 1.875%12/0 · principal | Sold out | 14,302,000 | $5.8Mbefore exit |
| WOLF Wolfspeed Inc. (wolf 0.25 02/15/28) | NOTE 0.250% 2/1 · principal | Sold out | 12,593,000 | $5.1Mbefore exit |
| LIBERTY INTERACTIVE LLC (LINTA 4 11/15/29) | DEB 4.000%11/1 · principal | Add +42.9% | 10,000,000 | $1.1M |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 7 | $11.3M | ACGC, IPVVU, CTRI, ANGX, CNF |
| Q1 2026 | 39 | $113.5M | CTRI, VSAT, AVGO, INTC, AMZN |
| Q4 2025 | 39 | $123.0M | NVDA, AVGO, INTC, AFRM, TTWO |
| Q3 2025 | 60 | $219.4M | WOLF, BTDR, AMD, TLT, HPE |
| Q2 2025 | 73 | $232.3M | AVGO, RIG, CORZ, XLK, LSCC |
| Q1 2025 | 91 | $277.5M | ALGM, TXN, TLT, CRM, HYG |
| Q4 2024 | 142 | $1.1B | COP, AA, INTC, APTV, TECK |
| Q3 2024 | 762 | $1.4B | AA, SNOW, NE, XLF, EQT |
| Q2 2024 | 740 | $918.0M | QQQ, XLY, XOM, GFR, COP |
| Q1 2024 | 443 | $476.7M | CPE, XLE, GFR, EEM, XME |