Ping Capital Management, Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 31, 2025), Ping Capital Management, Inc. reported 50 stock positions worth $166.1 million. Its top holding was YPF S.A.-Sponsored ADR (YPF) at 29.5% of the portfolio, followed by Pampa Energia SA-Spon ADR (PAM, 8.7%) and Grupo Financiero Galicia-ADR (GGAL, 6.8%). Compared with Q2 2025, it opened 3 new positions, sold out of 4, added to 22 and reduced 13. The biggest buy was Pampa Energia SA-Spon ADR (PAM, shares +218%) and the biggest sale Invesco QQQ Trust Series 1 (QQQ, shares −50%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001804352
- Portfolio Value
- $166.1M (Q3 2025)
- SEC Filing
- 0001804352-25-000005 ↗ filed Oct 31, 2025
Holdings Value
Holdings 50 stocks · $166.1M
| YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA | 29.49% | 2,017,000 | $49.0M | Add +36.1% |
| PAM Pampa Energia SA-Spon ADR | 8.75% | 242,000 | $14.5M | Add +217.6% |
| GGAL Grupo Financiero Galicia-ADR | 6.77% | 408,000 | $11.2M | Add +7.1% |
| KWEB Kranesh Csi China Internet | 5.69% | 225,000 | $9.5M | Reduce -48.9% |
| BBAR Bbva Argentina SA-ADR filed as BANCO BBVA ARGENTINA S A | 5.26% | 1,050,500 | $8.7M | Add +40.8% |
| EWZ iShares MSCI Brazil ETF | 4.57% | 244,800 | $7.6M | Reduce -7.9% |
| QQQ Invesco QQQ Trust Series 1 | 4.08% | 11,300 | $6.8M | Reduce -50.0% |
| BMA Banco Macro SA-ADR | 3.13% | 123,104 | $5.2M | Add +1.7% |
| XOP SS SPDR S&P Og Exp & Prod | 2.63% | 33,000 | $4.4M | Add +50.0% |
| VIST Vista Energy Sab DE CV | 2.57% | 123,900 | $4.3M | Add +266.6% |
| CHAU DD Csi 300 CH A SB 2X ETF-US | 2.15% | 173,000 | $3.6M | Reduce -7.5% |
| AAPL Apple Inc. | 2.05% | 13,400 | $3.4M | Reduce -21.6% |
| PBR Petroleo Brasileiro-Spon ADR | 2.04% | 268,000 | $3.4M | Add +14.0% |
| YINN Direxion DLY Ftse CH BL3X-Ui | 1.90% | 58,000 | $3.1M | Add +1.8% |
| FXI iShares China Large-Cap ETF | 1.73% | 70,000 | $2.9M | No change |
| TMF Dir DLY 20+YR TR BL3X ETF-Ui | 1.67% | 69,000 | $2.8M | New |
| TGS Transportador Gas-ADR SP B | 1.30% | 102,700 | $2.2M | Add +75.6% |
| JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F | 1.18% | 34,000 | $2.0M | Add +56.7% |
| SUPV Grupo Supervielle SA-SP ADR | 1.03% | 344,500 | $1.7M | Add +86.9% |
| VALE Vale SA-SP ADR | 0.87% | 132,800 | $1.4M | Add +10.8% |
| XLE SS Energy Select Sector | 0.81% | 15,000 | $1.3M | No change |
| ALB Albemarle Corp. | 0.79% | 16,100 | $1.3M | Reduce -1.8% |
| CEPU Central Puerto-Sponsored ADR | 0.75% | 155,000 | $1.2M | Add +30.3% |
| IBB iShares Biotechnology ETF | 0.70% | 8,000 | $1.2M | No change |
| LOMA Loma Negra Cia Ind-Spon ADR | 0.67% | 151,000 | $1.1M | Add +8.6% |
| CRESY Cresud S.A.-Spons ADR | 0.67% | 120,800 | $1.1M | Reduce -24.9% |
| IRS Irsa -SP ADR filed as IRSA INVERSIONES Y REP S A | 0.66% | 93,200 | $1.1M | Add +8.1% |
| IWM iShares Russell 2000 ETF | 0.66% | 4,500 | $1.1M | Reduce -40.0% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.52% | 7,500 | $859K | Add +7.1% |
| EDN Emp Distrib Y Comerc Nor-ADR filed as EMPRESA DIST Y COMERCIAL NOR | 0.47% | 50,400 | $784K | Add +83.9% |
| AGRO Adecoagro SA | 0.47% | 100,000 | $784K | Add +3.1% |
| CAAP Corp. America Airports SA filed as CORPORACION AMER ARPTS S A | 0.43% | 39,500 | $716K | Add +16.2% |
| EWW iShares MSCI Mexico ETF | 0.42% | 10,200 | $696K | Reduce -85.8% |
| XLV SS Health Care Select Sector | 0.34% | 4,000 | $557K | No change |
| ARKG ARK Genomic Revolution ETF | 0.25% | 15,000 | $417K | Reduce -6.3% |
| PFE Pfizer Inc. | 0.23% | 15,000 | $382K | No change |
| EC Ecopetrol SA-Sponsored ADR | 0.22% | 39,000 | $359K | No change |
| LAR Lithium Argentina AG | 0.21% | 102,000 | $341K | Reduce -15.7% |
| AMD Advanced Micro Devices | 0.19% | 2,000 | $324K | No change |
| MSFT Microsoft Corp. | 0.19% | 600 | $311K | Add +20.0% |
| MCD McDonald's Corp. | 0.18% | 1,000 | $304K | Reduce -61.5% |
| XBI SS SPDR S&P Biotech ETF | 0.18% | 3,000 | $301K | Reduce -50.0% |
| DAL Delta Air Lines Inc. | 0.17% | 5,000 | $284K | No change |
| SNY Sanofi-ADR | 0.17% | 6,000 | $283K | New |
| STM Stmicroelectronics NV-NY SHS | 0.17% | 10,000 | $283K | No change |
| TEO Telecom Argentina SA-SP ADR | 0.17% | 38,300 | $278K | New |
| AMZN Amazon.com Inc. | 0.16% | 1,200 | $263K | Add +20.0% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 0.14% | 500 | $232K | No change |
| AAL American Airlines Group Inc. | 0.14% | 20,000 | $225K | No change |
| BIOX Bioceres Crop Solutions Corp. | 0.05% | 57,000 | $80K | No change |
Options reported separately and not counted above: INVESCO QQQ TR calls ($68.7M), STATE STR SPDR S&P 500 ETF T puts ($19.9M), INVESCO QQQ TR puts ($13.6M), APPLE INC calls ($3.8M), MICROSOFT CORP calls ($3.4M), APPLE INC puts ($2.8M), TESLA INC puts ($2.2M), UNITEDHEALTH GROUP INC calls ($1.9M), NVIDIA CORPORATION calls ($1.8M), AMAZON COM INC calls ($1.7M), ISHARES TR calls ($1.5M), NVIDIA CORPORATION puts ($1.5M), and 10 more.
Portfolio Sells Q2 2025 → Q3 2025
| QQQ Invesco QQQ Trust Series 1 | Reduce -50.0% | 4.08% | −2.97 |
| KWEB Kranesh Csi China Internet | Reduce -48.9% | 5.69% | −2.86 |
| EWW iShares MSCI Mexico ETF | Reduce -85.8% | 0.42% | −2.04 |
| GOOGL Alphabet Inc. Class A | Sold out | 0.00% | −0.50 |
| CRESY Cresud S.A.-Spons ADR | Reduce -24.9% | 0.67% | −0.31 |
| IWM iShares Russell 2000 ETF | Reduce -40.0% | 0.66% | −0.26 |
| BP BP PLC-Spons ADR | Sold out | 0.00% | −0.25 |
| NU Nu Holdings Ltd./Cayman Isl-A | Sold out | 0.00% | −0.25 |
| MCD McDonald's Corp. | Reduce -61.5% | 0.18% | −0.25 |
| XBI SS SPDR S&P Biotech ETF | Reduce -50.0% | 0.18% | −0.10 |
| LAC Lithium Americas Corp. | Sold out | 0.00% | −0.02 |
| ARKG ARK Genomic Revolution ETF | Reduce -6.3% | 0.25% | +0.03 |
| LAR Lithium Argentina AG | Reduce -15.7% | 0.21% | +0.06 |
| AAPL Apple Inc. | Reduce -21.6% | 2.05% | +0.07 |
| ALB Albemarle Corp. | Reduce -1.8% | 0.79% | +0.20 |
| EWZ iShares MSCI Brazil ETF | Reduce -7.9% | 4.57% | +0.23 |
| CHAU DD Csi 300 CH A SB 2X ETF-US | Reduce -7.5% | 2.15% | +0.59 |
Portfolio Buys Q2 2025 → Q3 2025
| PAM Pampa Energia SA-Spon ADR | Add +217.6% | 8.75% | +5.76 |
| YPF YPF S.A.-Sponsored ADR | Add +36.1% | 29.49% | +3.10 |
| TMF Dir DLY 20+YR TR BL3X ETF-Ui | New | 1.67% | +1.67 |
| VIST Vista Energy Sab DE CV | Add +266.6% | 2.57% | +1.65 |
| XOP SS SPDR S&P Og Exp & Prod | Add +50.0% | 2.63% | +1.06 |
| YINN Direxion DLY Ftse CH BL3X-Ui | Add +1.8% | 1.90% | +0.57 |
| JEPQ JPM Nasdaq Equity Premium | Add +56.7% | 1.18% | +0.51 |
| TGS Transportador Gas-ADR SP B | Add +75.6% | 1.30% | +0.44 |
| PBR Petroleo Brasileiro-Spon ADR | Add +14.0% | 2.04% | +0.38 |
| VALE Vale SA-SP ADR | Add +10.8% | 0.87% | +0.21 |
| SNY Sanofi-ADR | New | 0.17% | +0.17 |
| TEO Telecom Argentina SA-SP ADR | New | 0.17% | +0.17 |
| EDN Emp Distrib Y Comerc Nor-ADR | Add +83.9% | 0.47% | +0.06 |
| MSFT Microsoft Corp. | Add +20.0% | 0.19% | +0.05 |
| CAAP Corp. America Airports SA | Add +16.2% | 0.43% | +0.04 |
| AMZN Amazon.com Inc. | Add +20.0% | 0.16% | +0.03 |
| DIS The Walt Disney Co. | Add +7.1% | 0.52% | +0.03 |
| IRS Irsa -SP ADR | Add +8.1% | 0.66% | −0.02 |
| AGRO Adecoagro SA | Add +3.1% | 0.47% | −0.03 |
| CEPU Central Puerto-Sponsored ADR | Add +30.3% | 0.75% | −0.04 |
| SUPV Grupo Supervielle SA-SP ADR | Add +86.9% | 1.03% | −0.08 |
| LOMA Loma Negra Cia Ind-Spon ADR | Add +8.6% | 0.67% | −0.19 |
| BMA Banco Macro SA-ADR | Add +1.7% | 3.13% | −1.68 |
| BBAR Bbva Argentina SA-ADR | Add +40.8% | 5.26% | −1.69 |
| GGAL Grupo Financiero Galicia-ADR | Add +7.1% | 6.77% | −4.09 |
Options Activity Q2 2025 → Q3 2025
| INVESCO QQQ TR | call | Reduce -37.0% | 114,400 | $68.7M |
| STATE STR SPDR S&P 500 ETF T | put | Reduce -0.3% | 29,800 | $19.9M |
| INVESCO QQQ TR | put | Add +43.7% | 22,700 | $13.6M |
| APPLE INC | call | Reduce -93.1% | 15,100 | $3.8M |
| MICROSOFT CORP | call | Reduce -61.0% | 6,600 | $3.4M |
| APPLE INC | put | Reduce -60.0% | 11,000 | $2.8M |
| TESLA INC | put | Reduce -5.7% | 5,000 | $2.2M |
| DBX ETF TR | call | Sold out | 71,300 | $2.0Mbefore exit |
| UNITEDHEALTH GROUP INC | call | Reduce -76.1% | 5,500 | $1.9M |
| NVIDIA CORPORATION | call | Add +14.6% | 9,400 | $1.8M |
| AMAZON COM INC | call | Add +100.0% | 7,600 | $1.7M |
| ISHARES TR | call | Reduce -3.0% | 6,400 | $1.5M |
| NVIDIA CORPORATION | put | Add +28.1% | 8,200 | $1.5M |
| ALPHABET INC | call | Reduce -96.6% | 5,000 | $1.2M |
| KRANESHARES TRUST | call | Sold out | 30,000 | $1.0Mbefore exit |
| BOEING CO | call | Reduce -42.9% | 4,000 | $863K |
| VANECK ETF TRUST | call | Add +78.6% | 2,500 | $816K |
| ADVANCED MICRO DEVICES INC | call | Sold out | 4,500 | $639Kbefore exit |
| J P MORGAN EXCHANGE TRADED F | call | New | 10,200 | $587K |
| VANECK ETF TRUST | put | Reduce -74.1% | 1,500 | $490K |
| LOCKHEED MARTIN CORP | call | Sold out | 1,000 | $463Kbefore exit |
| TESLA INC | call | Reduce -70.8% | 700 | $311K |
| ISHARES TR | call | Sold out | 8,000 | $294Kbefore exit |
| ISHARES TR | put | Add +20.0% | 1,200 | $290K |
| ALPHABET INC | put | New | 1,000 | $243K |
| BOEING CO | put | New | 1,000 | $216K |
| CENTRAL PUERTO S A | call | New | 25,000 | $200K |
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 | 69 | $308.1M | YPF, GGAL, BBAR, PAM, KWEB |
| Q1 2026 | 66 | $258.5M | YPF, PAM, BBAR, GGAL, KWEB |
| Q4 2025 | 54 | $251.0M | YPF, GGAL, PAM, KWEB, FXI |
| Q3 2025 | 50 | $166.1M | YPF, PAM, GGAL, KWEB, BBAR |
| Q2 2025 | 51 | $176.7M | YPF, GGAL, KWEB, QQQ, BBAR |
| Q1 2025 | 65 | $149.9M | YPF, GGAL, KWEB, BBAR, BMA |
| Q4 2024 | 57 | $243.8M | YPF, GGAL, BBAR, BMA, KWEB |
| Q3 2024 | 57 | $179.8M | YPF, GGAL, BMA, BBAR, QQQ |
| Q2 2024 | 52 | $159.6M | YPF, GGAL, BMA, BBAR, AAPL |