In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Ulysses Management LLC reported 37 stock positions worth $381.5 million . Its top holding was Microsoft (MSFT) at 18.2% of the portfolio, followed by Amazon.com (AMZN, 15.6% ) and Henry Schein (HSIC, 13.2% ). Compared with Q3 2025, it opened 12 new positions, sold out of 12, added to 8 and reduced 11. The biggest buy was Henry Schein (HSIC, shares +2% ) and the biggest sale Uber Technologies (UBER, shares −45% ).
Location New York, NY
CIK 0001510912
Portfolio Value $381.5M (Q4 2025) Holdings 37 stocks · $381.5M 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 Q3 2025 MSFT Microsoft Corp. 143,774 $69.5M No change AMZN Amazon.com Inc. 257,500 $59.4M No change HSIC Henry Schein Inc. 664,858 $50.2M Add +1.5% BALL Ball Corp. 550,000 $29.1M Reduce -4.3% TRMB Trimble Inc. 344,798 $27.0M Reduce -6.8% UBER Uber Technologies Inc. 303,900 $24.8M Reduce -44.6% SMWB Similarweb Ltd. 2,998,474 $22.5M No change CSGP Costar Group Inc. 330,500 $22.2M Add +22.2% PPLI People Inc. filed as IAC INC 206,129 $8.1M Reduce -24.8% UNF Unifirst Corp. 40,141 $7.7M Add +43.5% ANGI Angi Inc. 572,956 $7.4M Reduce -3.9% JPM JPMorgan Chase & Co. 22,000 $7.1M Add +69.2% DCOM Dime Commercial Bancshares I filed as DIME CMNTY BANCSHARES INC 224,441 $6.8M No change GS Goldman Sachs Group Inc. 4,500 $4.0M Add +50.0% PACK Ranpak Holdings Corp. 692,285 $3.7M No change TEAM Atlassian Corp. Class A 20,000 $3.2M New EMBJ Embraer SA-Spon ADR 50,000 $3.2M No change SMH Vaneck Semiconductor ETF 7,500 $2.7M New KRE SS SPDR S&P Regional Bank 40,000 $2.6M Reduce -42.9% XBI SS SPDR S&P Biotech ETF 15,000 $1.8M New FCX Freeport-McMoran Inc. 35,000 $1.8M Add +133.3% TMO Thermo Fisher Scientific Inc. 3,000 $1.7M New KBWB Invesco KBW Bank ETF 19,000 $1.6M Add +90.0% B Barrick Mining Corp. 35,000 $1.5M New NTB Bank of N.T. Butterfield&son 30,000 $1.5M Reduce -50.3% USB US Bancorp 25,000 $1.3M New WBS Webster Financial Corp. 20,000 $1.3M Add +33.3% GLD SPDR Gold Shares 3,000 $1.2M Reduce -64.7% AXP American Express Co. 3,000 $1.1M Reduce -40.0% ASML ASML Holding NV-NY Reg SHS 1,000 $1.1M New JNJ Johnson & Johnson 4,000 $828K New APO Apollo Global Management Inc. 5,000 $724K New DHR Danaher Corp. 3,000 $687K New SSYS Stratasys Ltd. 75,000 $651K Reduce -25.0% GOOGL Alphabet Inc. Class A 2,000 $626K Reduce -63.6% KRNT Kornit Digital Ltd. 40,000 $575K New BLND Blend Labs Inc. Class A 25,800 $78K New
Options reported separately and not counted above: AMZN calls ($51.9M), TSM calls ($25.1M), BALL calls ($24.4M), AAPL calls ($17.0M), SPY calls ($15.3M), HSIC calls ($14.7M), MSFT puts ($8.2M), UNF calls ($2.1M), GEV calls ($1.6M), GOOGL calls ($1.4M).
Other holdings (1): bonds, preferreds, convertibles and warrants · $2K (not counted above) Security Class Shares / Principal Value Change TBLAW Taboola.com Ltd. -CW27 *W EXP 99/99/999 45,000 $2K No change
Total filed on the 13F, all lines: $381.5M.
Portfolio Sells Q3 2025 → Q4 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 Q3 2025 % Of Portfolio Change To Portfolio ▲ UBER Uber Technologies Inc. Reduce -44.6% 6.51% −6.01 CCOI Cogent Communications Holdin Sold out 0.00% −3.00 WDAY Workday Inc. Class A Sold out 0.00% −2.24 GLD SPDR Gold Shares Reduce -64.7% 0.31% −0.39 KRE SS SPDR S&P Regional Bank Reduce -42.9% 0.68% −0.35 ANGI Angi Inc. Reduce -3.9% 1.94% −0.32 ET Energy Transfer LP Sold out 0.00% −0.30 NEM Newmont Corp. Sold out 0.00% −0.29 GEV GE Vernova Inc. Sold out 0.00% −0.24 CRWD CrowdStrike Holdings Inc. Class A Sold out 0.00% −0.23 NTB Bank of N.T. Butterfield&son Reduce -50.3% 0.39% −0.21 FSLR First Solar Inc. Sold out 0.00% −0.21 BAC Bank of America Corp. Sold out 0.00% −0.18 RRX Regal Rexnord Corp. Sold out 0.00% −0.17 GOOGL Alphabet Inc. Class A Reduce -63.6% 0.16% −0.15 VRT Vertiv Holdings Co. Class A Sold out 0.00% −0.14 GDOT Green Dot Corp. Class A Sold out 0.00% −0.13 HOOD Robinhood Markets Inc. Class A Sold out 0.00% −0.10 AXP American Express Co. Reduce -40.0% 0.29% −0.10 SSYS Stratasys Ltd. Reduce -25.0% 0.17% −0.09 PPLI People Inc. Reduce -24.8% 2.11% −0.06 TRMB Trimble Inc. Reduce -6.8% 7.08% +0.05 BALL Ball Corp. Reduce -4.3% 7.64% +0.89
Portfolio Buys Q3 2025 → Q4 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 Q3 2025 % Of Portfolio Change To Portfolio ▼ HSIC Henry Schein Inc. Add +1.5% 13.17% +3.05 UNF Unifirst Corp. Add +43.5% 2.03% +0.94 JPM JPMorgan Chase & Co. Add +69.2% 1.86% +0.90 TEAM Atlassian Corp. Class A New 0.85% +0.85 SMH Vaneck Semiconductor ETF New 0.71% +0.71 CSGP Costar Group Inc. Add +22.2% 5.83% +0.51 GS Goldman Sachs Group Inc. Add +50.0% 1.04% +0.48 XBI SS SPDR S&P Biotech ETF New 0.48% +0.48 TMO Thermo Fisher Scientific Inc. New 0.46% +0.46 B Barrick Mining Corp. New 0.40% +0.40 USB US Bancorp New 0.35% +0.35 FCX Freeport-McMoran Inc. Add +133.3% 0.47% +0.33 ASML ASML Holding NV-NY Reg SHS New 0.28% +0.28 KBWB Invesco KBW Bank ETF Add +90.0% 0.42% +0.24 JNJ Johnson & Johnson New 0.22% +0.22 APO Apollo Global Management Inc. New 0.19% +0.19 DHR Danaher Corp. New 0.18% +0.18 KRNT Kornit Digital Ltd. New 0.15% +0.15 WBS Webster Financial Corp. Add +33.3% 0.33% +0.12 BLND Blend Labs Inc. Class A New 0.02% +0.02
Options Activity Q3 2025 → Q4 2025 Security Type Change vs Q3 2025 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Sold out 1,010,000 $672.8Mbefore exit QQQ Invesco QQQ Trust Series 1 put Sold out 280,000 $168.1Mbefore exit AMZN Amazon.com Inc. call Add +429.4% 225,000 $51.9M AAPL Apple Inc. call Add +108.3% 62,500 $17.0M SPY SS SPDR S&P 500 ETF Trust-US call New 22,500 $15.3M MSFT Microsoft Corp. put Reduce -15.0% 17,000 $8.2M NVDA Nvidia Corp. call Sold out 22,500 $4.2Mbefore exit UNF Unifirst Corp. call New 11,100 $2.1M GEV GE Vernova Inc. call New 2,500 $1.6M GOOGL Alphabet Inc. Class A call New 4,500 $1.4M IWM iShares Russell 2000 ETF call Sold out 20,000 $1.3Mbefore exit COIN Coinbase Global Inc. Class A call Sold out 2,500 $844Kbefore exit CSX CSX Corp. call Sold out 20,000 $710Kbefore 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 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