Ping Capital Management, Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 2, 2026), Ping Capital Management, Inc. reported 54 stock positions worth $251.0 million. Its top holding was YPF S.A.-Sponsored ADR (YPF) at 28.1% of the portfolio, followed by Grupo Financiero Galicia-ADR (GGAL, 9.7%) and Pampa Energia SA-Spon ADR (PAM, 7.5%). Compared with Q3 2025, it opened 13 new positions, sold out of 9, added to 21 and reduced 15. The biggest buy was iShares China Large-Cap ETF (FXI, shares +436%) and the biggest sale an exit from DD Csi 300 CH A SB 2X ETF-US (CHAU).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001804352
- Portfolio Value
- $251.0M (Q4 2025)
- SEC Filing
- 0001804352-26-000001 ↗ filed Feb 2, 2026
Holdings Value
Holdings 54 stocks · $251.0M
| YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA | 28.07% | 1,948,700 | $70.5M | Reduce -3.4% |
| GGAL Grupo Financiero Galicia-ADR | 9.69% | 450,800 | $24.3M | Add +10.5% |
| PAM Pampa Energia SA-Spon ADR | 7.51% | 213,100 | $18.9M | Reduce -11.9% |
| KWEB Kranesh Csi China Internet | 6.71% | 495,000 | $16.9M | Add +120.0% |
| FXI iShares China Large-Cap ETF | 5.72% | 375,000 | $14.4M | Add +435.7% |
| BBAR Bbva Argentina SA-ADR filed as BANCO BBVA ARGENTINA S A | 5.62% | 780,900 | $14.1M | Reduce -25.7% |
| VIST Vista Energy Sab DE CV | 4.36% | 224,900 | $10.9M | Add +81.5% |
| BMA Banco Macro SA-ADR | 4.30% | 119,604 | $10.8M | Reduce -2.8% |
| QQQ Invesco QQQ Trust Series 1 | 3.55% | 14,500 | $8.9M | Add +28.3% |
| EWZ iShares MSCI Brazil ETF | 2.91% | 229,800 | $7.3M | Reduce -6.1% |
| SUPV Grupo Supervielle SA-SP ADR | 2.04% | 434,000 | $5.1M | Add +26.0% |
| XOP SS SPDR S&P Og Exp & Prod | 2.01% | 40,000 | $5.1M | Add +21.2% |
| PBR Petroleo Brasileiro-Spon ADR | 1.85% | 392,100 | $4.6M | Add +46.3% |
| AAPL Apple Inc. | 1.78% | 16,400 | $4.5M | Add +22.4% |
| TGS Transportador Gas-ADR SP B | 1.27% | 102,700 | $3.2M | No change |
| ASHR Xtrackers Harvest Csi 300 CH | 1.15% | 88,000 | $2.9M | New |
| TMF Dir DLY 20+YR TR BL3X ETF-Ui | 1.01% | 68,000 | $2.5M | Reduce -1.4% |
| CEPU Central Puerto-Sponsored ADR | 0.89% | 127,000 | $2.2M | Reduce -18.1% |
| ALB Albemarle Corp. | 0.73% | 13,000 | $1.8M | Reduce -19.3% |
| CRESY Cresud S.A.-Spons ADR | 0.68% | 134,821 | $1.7M | Add +11.6% |
| IRS Irsa -SP ADR filed as IRSA INVERSIONES Y REP S A | 0.64% | 96,648 | $1.6M | Add +3.7% |
| UNH Unitedhealth Group Inc. | 0.63% | 4,800 | $1.6M | New |
| EDN Emp Distrib Y Comerc Nor-ADR filed as EMPRESA DIST Y COMERCIAL NOR | 0.63% | 52,400 | $1.6M | Add +4.0% |
| XLE SS Energy Select Sector | 0.53% | 30,000 | $1.3M | No change |
| CAAP Corp. America Airports SA filed as CORPORACION AMER ARPTS S A | 0.48% | 46,500 | $1.2M | Add +17.7% |
| JD Jd.com Inc.-ADR | 0.48% | 42,000 | $1.2M | New |
| LOMA Loma Negra Cia Ind-Spon ADR | 0.47% | 91,300 | $1.2M | Reduce -39.5% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.41% | 9,000 | $1.0M | Add +20.0% |
| AGRO Adecoagro SA | 0.38% | 120,100 | $952K | Add +20.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.35% | 1,300 | $886K | New |
| LI Li Auto Inc. - ADR | 0.30% | 45,000 | $762K | New |
| PFE Pfizer Inc. | 0.25% | 25,000 | $623K | Add +66.7% |
| LAR Lithium Argentina AG | 0.23% | 102,000 | $569K | No change |
| AMZN Amazon.com Inc. | 0.18% | 2,000 | $462K | Add +66.7% |
| VALE Vale SA-SP ADR | 0.18% | 35,100 | $457K | Reduce -73.6% |
| STM Stmicroelectronics NV-NY SHS | 0.18% | 17,000 | $441K | Add +70.0% |
| EC Ecopetrol SA-Sponsored ADR | 0.16% | 41,000 | $411K | Add +5.1% |
| MSFT Microsoft Corp. | 0.15% | 800 | $387K | Add +33.3% |
| MCD McDonald's Corp. | 0.15% | 1,200 | $367K | Add +20.0% |
| IBB iShares Biotechnology ETF | 0.13% | 2,000 | $338K | Reduce -75.0% |
| JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F | 0.13% | 5,700 | $331K | Reduce -83.2% |
| SNY Sanofi-ADR | 0.12% | 6,000 | $291K | No change |
| CNH CNH Industrial NV | 0.11% | 30,000 | $277K | New |
| XBI SS SPDR S&P Biotech ETF | 0.10% | 2,000 | $244K | Reduce -33.3% |
| TEO Telecom Argentina SA-SP ADR | 0.10% | 20,700 | $240K | Reduce -46.0% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 0.10% | 500 | $240K | No change |
| FMS Fresenius Medical Care-ADR | 0.09% | 10,000 | $238K | New |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.09% | 13,600 | $228K | New |
| ATHM Autohome Inc.-ADR | 0.09% | 10,000 | $223K | New |
| NVDA Nvidia Corp. | 0.08% | 1,100 | $205K | New |
| MELI MercadoLibre Inc. | 0.08% | 100 | $201K | New |
| ALK Alaska Air Group Inc. | 0.08% | 4,000 | $201K | New |
| LAC Lithium Americas Corp. | 0.04% | 25,000 | $109K | New |
| BIOX Bioceres Crop Solutions Corp. | 0.03% | 55,000 | $72K | Reduce -3.5% |
Options reported separately and not counted above: INVESCO QQQ TR calls ($26.8M), STATE STR SPDR S&P 500 ETF T puts ($17.9M), INVESCO QQQ TR puts ($16.5M), MICROSOFT CORP calls ($7.3M), NVIDIA CORPORATION puts ($4.5M), APPLE INC calls ($4.3M), NVIDIA CORPORATION calls ($3.3M), TESLA INC puts ($2.8M), STATE STR SPDR S&P 500 ETF T calls ($2.0M), LOCKHEED MARTIN CORP calls ($1.9M), TESLA INC calls ($1.8M), ISHARES TR calls ($1.6M), and 12 more.
Portfolio Sells Q3 2025 → Q4 2025
| CHAU DD Csi 300 CH A SB 2X ETF-US | Sold out | 0.00% | −2.15 |
| YINN Direxion DLY Ftse CH BL3X-Ui | Sold out | 0.00% | −1.90 |
| EWZ iShares MSCI Brazil ETF | Reduce -6.1% | 2.91% | −1.66 |
| YPF YPF S.A.-Sponsored ADR | Reduce -3.4% | 28.07% | −1.42 |
| PAM Pampa Energia SA-Spon ADR | Reduce -11.9% | 7.51% | −1.24 |
| JEPQ JPM Nasdaq Equity Premium | Reduce -83.2% | 0.13% | −1.05 |
| VALE Vale SA-SP ADR | Reduce -73.6% | 0.18% | −0.69 |
| TMF Dir DLY 20+YR TR BL3X ETF-Ui | Reduce -1.4% | 1.01% | −0.66 |
| IWM iShares Russell 2000 ETF | Sold out | 0.00% | −0.66 |
| IBB iShares Biotechnology ETF | Reduce -75.0% | 0.13% | −0.56 |
| EWW iShares MSCI Mexico ETF | Sold out | 0.00% | −0.42 |
| XLV SS Health Care Select Sector | Sold out | 0.00% | −0.34 |
| ARKG ARK Genomic Revolution ETF | Sold out | 0.00% | −0.25 |
| LOMA Loma Negra Cia Ind-Spon ADR | Reduce -39.5% | 0.47% | −0.20 |
| AMD Advanced Micro Devices | Sold out | 0.00% | −0.19 |
| DAL Delta Air Lines Inc. | Sold out | 0.00% | −0.17 |
| AAL American Airlines Group Inc. | Sold out | 0.00% | −0.14 |
| XBI SS SPDR S&P Biotech ETF | Reduce -33.3% | 0.10% | −0.08 |
| TEO Telecom Argentina SA-SP ADR | Reduce -46.0% | 0.10% | −0.07 |
| ALB Albemarle Corp. | Reduce -19.3% | 0.73% | −0.05 |
| BIOX Bioceres Crop Solutions Corp. | Reduce -3.5% | 0.03% | −0.02 |
| CEPU Central Puerto-Sponsored ADR | Reduce -18.1% | 0.89% | +0.14 |
| BBAR Bbva Argentina SA-ADR | Reduce -25.7% | 5.62% | +0.36 |
| BMA Banco Macro SA-ADR | Reduce -2.8% | 4.30% | +1.16 |
Portfolio Buys Q3 2025 → Q4 2025
| FXI iShares China Large-Cap ETF | Add +435.7% | 5.72% | +3.99 |
| GGAL Grupo Financiero Galicia-ADR | Add +10.5% | 9.69% | +2.92 |
| VIST Vista Energy Sab DE CV | Add +81.5% | 4.36% | +1.79 |
| ASHR Xtrackers Harvest Csi 300 CH | New | 1.15% | +1.15 |
| KWEB Kranesh Csi China Internet | Add +120.0% | 6.71% | +1.02 |
| SUPV Grupo Supervielle SA-SP ADR | Add +26.0% | 2.04% | +1.02 |
| UNH Unitedhealth Group Inc. | New | 0.63% | +0.63 |
| JD Jd.com Inc.-ADR | New | 0.48% | +0.48 |
| SPY SS SPDR S&P 500 ETF Trust-US | New | 0.35% | +0.35 |
| LI Li Auto Inc. - ADR | New | 0.30% | +0.30 |
| EDN Emp Distrib Y Comerc Nor-ADR | Add +4.0% | 0.63% | +0.15 |
| CNH CNH Industrial NV | New | 0.11% | +0.11 |
| FMS Fresenius Medical Care-ADR | New | 0.09% | +0.09 |
| NU Nu Holdings Ltd./Cayman Isl-A | New | 0.09% | +0.09 |
| ATHM Autohome Inc.-ADR | New | 0.09% | +0.09 |
| NVDA Nvidia Corp. | New | 0.08% | +0.08 |
| MELI MercadoLibre Inc. | New | 0.08% | +0.08 |
| ALK Alaska Air Group Inc. | New | 0.08% | +0.08 |
| CAAP Corp. America Airports SA | Add +17.7% | 0.48% | +0.05 |
| LAC Lithium Americas Corp. | New | 0.04% | +0.04 |
| AMZN Amazon.com Inc. | Add +66.7% | 0.18% | +0.03 |
| PFE Pfizer Inc. | Add +66.7% | 0.25% | +0.02 |
| CRESY Cresud S.A.-Spons ADR | Add +11.6% | 0.68% | +0.01 |
| STM Stmicroelectronics NV-NY SHS | Add +70.0% | 0.18% | +0.01 |
| IRS Irsa -SP ADR | Add +3.7% | 0.64% | −0.03 |
| MSFT Microsoft Corp. | Add +33.3% | 0.15% | −0.03 |
| MCD McDonald's Corp. | Add +20.0% | 0.15% | −0.04 |
| EC Ecopetrol SA-Sponsored ADR | Add +5.1% | 0.16% | −0.05 |
| AGRO Adecoagro SA | Add +20.1% | 0.38% | −0.09 |
| DIS The Walt Disney Co. | Add +20.0% | 0.41% | −0.11 |
| PBR Petroleo Brasileiro-Spon ADR | Add +46.3% | 1.85% | −0.19 |
| AAPL Apple Inc. | Add +22.4% | 1.78% | −0.28 |
| QQQ Invesco QQQ Trust Series 1 | Add +28.3% | 3.55% | −0.54 |
| XOP SS SPDR S&P Og Exp & Prod | Add +21.2% | 2.01% | −0.61 |
Options Activity Q3 2025 → Q4 2025
| INVESCO QQQ TR | call | Reduce -61.8% | 43,700 | $26.8M |
| STATE STR SPDR S&P 500 ETF T | put | Reduce -11.7% | 26,300 | $17.9M |
| INVESCO QQQ TR | put | Add +18.1% | 26,800 | $16.5M |
| MICROSOFT CORP | call | Add +127.3% | 15,000 | $7.3M |
| NVIDIA CORPORATION | put | Add +196.3% | 24,300 | $4.5M |
| APPLE INC | call | Add +6.0% | 16,000 | $4.3M |
| NVIDIA CORPORATION | call | Add +90.4% | 17,900 | $3.3M |
| TESLA INC | put | Add +26.0% | 6,300 | $2.8M |
| STATE STR SPDR S&P 500 ETF T | call | New | 3,000 | $2.0M |
| LOCKHEED MARTIN CORP | call | New | 4,000 | $1.9M |
| TESLA INC | call | Add +457.1% | 3,900 | $1.8M |
| ISHARES TR | call | Add +1.6% | 6,500 | $1.6M |
| AMAZON COM INC | call | Reduce -17.1% | 6,300 | $1.5M |
| VANECK ETF TRUST | call | Sold out | 2,500 | $816Kbefore exit |
| UNITEDHEALTH GROUP INC | call | Reduce -58.2% | 2,300 | $759K |
| ALPHABET INC | call | Reduce -60.0% | 2,000 | $626K |
| J P MORGAN EXCHANGE TRADED F | call | Reduce -9.8% | 9,200 | $535K |
| ALPHABET INC | put | Add +50.0% | 1,500 | $470K |
| BOEING CO | call | Reduce -50.0% | 2,000 | $434K |
| VANECK ETF TRUST | put | Reduce -26.7% | 1,100 | $396K |
| APPLE INC | put | Reduce -90.9% | 1,000 | $272K |
| ISHARES TR | put | Reduce -16.7% | 1,000 | $246K |
| TAIWAN SEMICONDUCTOR MANUFAC | put | New | 700 | $213K |
| LAUDER ESTEE COS INC | call | New | 2,000 | $209K |
| CENTRAL PUERTO S A | call | Sold out | 25,000 | $200Kbefore 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 | 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 |