In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Ulysses Management LLC reported 41 stock positions worth $463.6 million . Its top holding was Microsoft (MSFT) at 15.4% of the portfolio, followed by Amazon.com (AMZN, 12.2% ) and Uber Technologies (UBER, 11.0% ). Compared with Q1 2025, it opened 12 new positions, sold out of 8, added to 6 and reduced 8. The biggest buy was a new position in Amrize (AMRZ) and the biggest sale People (PPLI, shares −42% ).
Location New York, NY
CIK 0001510912
Portfolio Value $463.6M (Q2 2025) Holdings 41 stocks · $463.6M 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 Q1 2025 MSFT Microsoft Corp. 143,774 $71.5M No change AMZN Amazon.com Inc. 257,500 $56.5M No change UBER Uber Technologies Inc. 548,900 $51.2M Reduce -4.4% HSIC Henry Schein Inc. 452,858 $33.1M Add +40.9% BALL Ball Corp. 575,000 $32.3M No change TRMB Trimble Inc. 414,798 $31.5M No change SMWB Similarweb Ltd. 2,998,474 $23.5M Add +9.1% CSGP Costar Group Inc. 270,500 $21.7M Add +72.4% APG Api Group Corp. 375,250 $19.2M No change WDAY Workday Inc. Class A 74,993 $18.0M No change CCOI Cogent Communications Holdin 372,166 $17.9M No change PPLI People Inc. filed as IAC INC 352,987 $13.2M Reduce -42.1% AMRZ Amrize Ltd. 250,000 $12.4M New ANGI Angi Inc. 596,279 $9.1M Add +115.9% DCOM Dime Commercial Bancshares I filed as DIME CMNTY BANCSHARES INC 224,441 $6.0M No change UNF Unifirst Corp. 22,130 $4.2M Reduce -18.4% ASML ASML Holding NV-NY Reg SHS 5,000 $4.0M No change KRE SS SPDR S&P Regional Bank 65,000 $3.9M Reduce -18.8% JPM JPMorgan Chase & Co. 13,000 $3.8M No change GEV GE Vernova Inc. 7,000 $3.7M Add +133.3% NTB Bank of N.T. Butterfield&son 60,407 $2.7M No change PACK Ranpak Holdings Corp. 692,285 $2.5M No change EMBJ Embraer SA-Spon ADR 40,000 $2.3M New GS Goldman Sachs Group Inc. 3,000 $2.1M Reduce -14.3% GOOGL Alphabet Inc. Class A 11,500 $2.0M Reduce -45.2% GLD SPDR Gold Shares 6,500 $2.0M Reduce -38.1% BANC Banc of California Inc. 100,000 $1.4M New AVGO Broadcom Inc. 5,000 $1.4M New SSYS Stratasys Ltd. 120,000 $1.4M No change ET Energy Transfer LP 75,000 $1.4M New AXP American Express Co. 4,000 $1.3M No change NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 90,000 $1.2M Add +50.0% WAL Western Alliance Bancorp 15,000 $1.2M New TECK Teck Resources Ltd.-CLS B 20,000 $808K Reduce -20.0% TKR Timken Co. 10,000 $726K New OPAD Offerpad Solutions Inc. 771,885 $702K No change VST Vistra Corp. 3,000 $581K New HOOD Robinhood Markets Inc. Class A 5,000 $468K New VRT Vertiv Holdings Co. Class A 3,000 $385K New IBIT iShares Bitcoin Trust ETF 5,000 $306K New COHR Coherent Corp. 3,000 $268K New
Options reported separately and not counted above: SPY puts ($308.9M), QQQ puts ($74.5M), BALL calls ($34.4M), HSIC calls ($29.2M), NVDA calls ($26.9M), TSM calls ($18.7M), IWM calls ($10.8M), AAPL calls ($9.2M), AMZN calls ($7.3M), DE calls ($3.3M), META calls ($3.0M), KBWB calls ($1.8M), and 1 more.
Other holdings (1): bonds, preferreds, convertibles and warrants · $11K (not counted above) Security Class Shares / Principal Value Change TBLAW Taboola.com Ltd. -CW27 *W EXP 99/99/999 45,000 $11K No change
Total filed on the 13F, all lines: $463.6M.
Portfolio Sells Q1 2025 → Q2 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 Q1 2025 % Of Portfolio Change To Portfolio ▲ PPLI People Inc. Reduce -42.1% 2.84% −4.24 FCNCA First Citizens Bcshs Class A Sold out 0.00% −0.47 GOOGL Alphabet Inc. Class A Reduce -45.2% 0.44% −0.38 GLD SPDR Gold Shares Reduce -38.1% 0.43% −0.34 KRE SS SPDR S&P Regional Bank Reduce -18.8% 0.83% −0.32 XBI SS SPDR S&P Biotech ETF Sold out 0.00% −0.31 NEM Newmont Corp. Sold out 0.00% −0.31 UNF Unifirst Corp. Reduce -18.4% 0.90% −0.29 KBWB Invesco KBW Bank ETF Sold out 0.00% −0.29 WBS Webster Financial Corp. Sold out 0.00% −0.26 MCB Metropolitan Bank Holding Co. Sold out 0.00% −0.21 FSLR First Solar Inc. Sold out 0.00% −0.13 BCO The Brink's Co. Sold out 0.00% −0.11 TECK Teck Resources Ltd.-CLS B Reduce -20.0% 0.17% −0.06 GS Goldman Sachs Group Inc. Reduce -14.3% 0.46% −0.03 UBER Uber Technologies Inc. Reduce -4.4% 11.05% +0.48
Portfolio Buys Q1 2025 → Q2 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 Q1 2025 % Of Portfolio Change To Portfolio ▼ AMRZ Amrize Ltd. New 2.67% +2.67 HSIC Henry Schein Inc. Add +40.9% 7.14% +1.57 CSGP Costar Group Inc. Add +72.4% 4.69% +1.55 ANGI Angi Inc. Add +115.9% 1.96% +0.89 GEV GE Vernova Inc. Add +133.3% 0.80% +0.57 EMBJ Embraer SA-Spon ADR New 0.49% +0.49 BANC Banc of California Inc. New 0.30% +0.30 AVGO Broadcom Inc. New 0.30% +0.30 ET Energy Transfer LP New 0.29% +0.29 WAL Western Alliance Bancorp New 0.25% +0.25 TKR Timken Co. New 0.16% +0.16 VST Vistra Corp. New 0.13% +0.13 NU Nu Holdings Ltd./Cayman Isl-A Add +50.0% 0.27% +0.11 HOOD Robinhood Markets Inc. Class A New 0.10% +0.10 VRT Vertiv Holdings Co. Class A New 0.08% +0.08 IBIT iShares Bitcoin Trust ETF New 0.07% +0.07 COHR Coherent Corp. New 0.06% +0.06 SMWB Similarweb Ltd. Add +9.1% 5.07% −0.68
Options Activity Q1 2025 → Q2 2025 Security Type Change vs Q1 2025 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Add +194.1% 500,000 $308.9M QQQ Invesco QQQ Trust Series 1 put Reduce -31.6% 135,000 $74.5M MSFT Microsoft Corp. put Sold out 110,000 $41.3Mbefore exit HSIC Henry Schein Inc. call New 400,000 $29.2M NVDA Nvidia Corp. call New 170,000 $26.9M TRMB Trimble Inc. call Sold out 200,000 $13.1Mbefore exit IWM iShares Russell 2000 ETF call New 50,000 $10.8M AAPL Apple Inc. call Add +63.6% 45,000 $9.2M AMZN Amazon.com Inc. call New 33,500 $7.3M UNF Unifirst Corp. put Sold out 30,000 $5.2Mbefore exit DE Deere & Co. call New 6,500 $3.3M META Meta Platforms Inc. Class A call New 4,000 $3.0M KBWB Invesco KBW Bank ETF call New 25,000 $1.8M C Citigroup Inc. call New 20,000 $1.7M
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 31 $289.3M AMZN, HSIC, MSFT, BALL, SMWB Q1 2026 28 $265.5M AMZN, MSFT, HSIC, BALL, UBER Q4 2025 37 $381.5M MSFT, AMZN, HSIC, BALL, TRMB Q3 2025 37 $429.4M MSFT, AMZN, UBER, HSIC, TRMB Q2 2025 41 $463.6M MSFT, AMZN, UBER, HSIC, BALL Q1 2025 37 $395.6M MSFT, AMZN, UBER, BALL, PPLI Q4 2024 41 $430.4M MSFT, AMZN, UBER, SMWB, BALL Q3 2024 37 $436.3M MSFT, AMZN, UBER, BALL, PPLI Q2 2024 42 $416.2M MSFT, AMZN, UBER, BALL, PPLI Q1 2024 42 $461.8M MSFT, AMZN, UBER, BALL, PPLI