Pine Ridge Advisers LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 17, 2025), Pine Ridge Advisers LLC reported 37 stock positions worth $1.5 billion. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 37.6% of the portfolio, followed by iShares Bitcoin Trust ETF (IBIT, 9.7%) and iShares Core S&P 500 ETF (IVV, 6.2%). Compared with Q2 2025, it opened 1 new position, sold out of 2, added to 9 and reduced 8. The biggest buy was iShares Bitcoin Trust ETF (IBIT, shares +1%) and the biggest sale an exit from State STR SPDR S&P 500 ETF T.
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001845915
- Portfolio Value
- $1.5B (Q3 2025)
- SEC Filing
- 0001420506-25-003457 ↗ filed Nov 17, 2025
Holdings Value
Holdings 37 stocks · $1.5B
| SPY SS SPDR S&P 500 ETF Trust-US | 37.60% | 823,458 | $548.6M | Reduce -0.6% |
| IBIT iShares Bitcoin Trust ETF | 9.73% | 2,184,600 | $142.0M | Add +1.2% |
| IVV iShares Core S&P 500 ETF | 6.19% | 135,009 | $90.4M | Add +0.0% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 6.16% | 306,122 | $89.9M | Reduce -2.4% |
| QQQ Invesco QQQ Trust Series 1 | 5.87% | 142,556 | $85.6M | Add +0.0% |
| FBTC Fidelity Wise Origin Bitcoin | 5.71% | 834,367 | $83.3M | No change |
| VEA Vanguard Ftse Developed ETF | 4.04% | 984,266 | $59.0M | Add +0.0% |
| IJH iShares Core S&P Midcap ETF | 4.02% | 899,150 | $58.7M | Add +0.2% |
| IJR iShares Core S&P Small-Cap E | 2.80% | 344,276 | $40.9M | Reduce -0.8% |
| VTI VG Morningstar TS MKT ETF-US | 2.49% | 110,842 | $36.4M | Add +0.8% |
| GLD SPDR Gold Shares | 1.74% | 71,225 | $25.3M | No change |
| IEFA iShares Core MSCI Eafe ETF | 1.65% | 275,902 | $24.1M | No change |
| SMH Vaneck Semiconductor ETF | 1.52% | 68,165 | $22.2M | No change |
| BITB Bitwise Bitcoin ETF | 1.43% | 336,325 | $20.9M | No change |
| AESI Atlas Energy Solutions Inc. | 1.16% | 1,494,071 | $17.0M | Add +23.2% |
| RSP Invesco S&P 500 Equal Weight | 0.98% | 75,273 | $14.3M | Add +5.1% |
| VWO Vanguard Ftse Emerging Marke | 0.87% | 234,077 | $12.7M | No change |
| GOOG Alphabet Inc. Class C | 0.80% | 48,000 | $11.7M | No change |
| GOOGL Alphabet Inc. Class A | 0.71% | 42,780 | $10.4M | Reduce -7.0% |
| AAPL Apple Inc. | 0.48% | 27,305 | $7.0M | Reduce -2.9% |
| JPM JPMorgan Chase & Co. | 0.46% | 21,500 | $6.8M | No change |
| IWM iShares Russell 2000 ETF | 0.43% | 26,022 | $6.3M | No change |
| AMZN Amazon.com Inc. | 0.41% | 27,390 | $6.0M | Reduce -27.9% |
| VNQ Vanguard Real Estate ETF | 0.32% | 51,167 | $4.7M | Add +1.0% |
| META Meta Platforms Inc. Class A | 0.29% | 5,735 | $4.2M | No change |
| ROIV Roivant Sciences Ltd. | 0.29% | 276,530 | $4.2M | No change |
| MSFT Microsoft Corp. | 0.27% | 7,610 | $3.9M | No change |
| BRK.A Berkshire Hathaway Inc. Class A | 0.26% | 5 | $3.8M | No change |
| INTC Intel Corp. | 0.26% | 112,045 | $3.8M | Reduce -66.3% |
| VOO Vanguard S&P 500 ETF | 0.21% | 5,075 | $3.1M | No change |
| VEU Vanguard Ftse All-World Ex-U | 0.20% | 41,848 | $3.0M | Reduce -24.3% |
| ASML ASML Holding NV-NY Reg SHS | 0.20% | 3,025 | $2.9M | No change |
| TSLA Tesla Inc. | 0.16% | 5,355 | $2.4M | No change |
| OTF Blue Owl Technology Finance | 0.15% | 161,484 | $2.2M | New |
| VXUS Vanguard Total Intl Stock | 0.04% | 7,271 | $534K | No change |
| IWV iShares Russell 3000 ETF | 0.03% | 1,083 | $410K | No change |
| AGG iShares Core U.S. Aggregate | 0.02% | 3,543 | $355K | No change |
Options reported separately and not counted above: STATE STR SPDR S&P 500 ETF T calls ($220.5M).
Portfolio Sells Q2 2025 → Q3 2025
| STATE STR SPDR S&P 500 ETF T | Sold out | 0.00% | −13.04 |
| INTC Intel Corp. | Reduce -66.3% | 0.26% | −0.22 |
| TSM Taiwan Semiconductor-SP ADR | Sold out | 0.00% | −0.14 |
| AMZN Amazon.com Inc. | Reduce -27.9% | 0.41% | −0.12 |
| VEU Vanguard Ftse All-World Ex-U | Reduce -24.3% | 0.20% | −0.03 |
| AAPL Apple Inc. | Reduce -2.9% | 0.48% | +0.11 |
| GOOGL Alphabet Inc. Class A | Reduce -7.0% | 0.71% | +0.20 |
| IJR iShares Core S&P Small-Cap E | Reduce -0.8% | 2.80% | +0.38 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Reduce -2.4% | 6.16% | +0.56 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -0.6% | 37.60% | +4.97 |
Portfolio Buys Q2 2025 → Q3 2025
| IBIT iShares Bitcoin Trust ETF | Add +1.2% | 9.73% | +1.30 |
| QQQ Invesco QQQ Trust Series 1 | Add +0.0% | 5.87% | +0.85 |
| IVV iShares Core S&P 500 ETF | Add +0.0% | 6.19% | +0.85 |
| IJH iShares Core S&P Midcap ETF | Add +0.2% | 4.02% | +0.47 |
| VEA Vanguard Ftse Developed ETF | Add +0.0% | 4.04% | +0.46 |
| VTI VG Morningstar TS MKT ETF-US | Add +0.8% | 2.49% | +0.36 |
| OTF Blue Owl Technology Finance | New | 0.15% | +0.15 |
| RSP Invesco S&P 500 Equal Weight | Add +5.1% | 0.98% | +0.15 |
| AESI Atlas Energy Solutions Inc. | Add +23.2% | 1.16% | +0.13 |
| VNQ Vanguard Real Estate ETF | Add +1.0% | 0.32% | +0.03 |
Options Activity Q2 2025 → Q3 2025
| STATE STR SPDR S&P 500 ETF T | call | New | 331,000 | $220.5M |
| ISHARES BITCOIN TRUST ETF | call | Sold out | 175,000 | $10.7Mbefore exit |
| ISHARES BITCOIN TRUST ETF | put | Sold out | 150,000 | $9.2Mbefore exit |
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 | 40 | $1.6B | SPY, QQQ, IVV, VO, IJH |
| Q1 2026 | 39 | $1.4B | SPY, IVV, VO, IBIT, QQQ |
| Q4 2025 | 37 | $1.5B | SPY, IBIT, IVV, VO, QQQ |
| Q3 2025 | 37 | $1.5B | SPY, IBIT, IVV, VO, QQQ |
| Q2 2025 | 38 | $1.6B | SPY, STATE STR SPDR S&P 500 ETF T, IBIT, VO, IVV |
| Q1 2025 | 35 | $1.2B | SPY, IBIT, VO, IVV, QQQ |
| Q4 2024 | 35 | $1.1B | SPY, IBIT, IVV, FBTC, QQQ |
| Q3 2024 | 35 | $1.0B | SPY, FBTC, IVV, IBIT, QQQ |
| Q2 2024 | 34 | $938.3M | SPY, FBTC, IVV, IBIT, QQQ |
| Q1 2024 | 31 | $855.4M | SPY, FBTC, IBIT, IVV, IJH |