Cipher DigitalCIFR

13F holders, Q3 2025 (September 30)
298holders +76
111new positions
37sold out
7famous investors
$12.61avg. 13F price*

At the end of Q3 2025, 298 institutions reported holding Cipher Digital Inc. (CIFR) in their 13F filings, up 76 from Q2 2025. 111 opened new positions and 37 sold out. The largest holders were V3 Holding Ltd ($829.1M), BlackRock, Inc. ($302.8M) and Vanguard Group Inc. ($287.2M). 7 famous investors held it, including Paul Tudor Jones (0.2% of Tudor Investment Corporation's portfolio), George Soros (0.1% of Soros Fund Management's portfolio) and Ken Griffin (0.0% of Citadel Advisors's portfolio).

Company
Cipher Digital Inc.
CUSIP
17253J106
Latest filing quarter
Q2 2026

History

Number of 13F holders

0100200300400500 Q1 2024: 125Q1 2024Q2 2024: 152Q2 2024Q3 2024: 166Q3 2024Q4 2024: 202Q4 2024Q1 2025: 198Q1 2025Q2 2025: 222Q2 2025Q3 2025: 298Q3 2025Q4 2025: 356Q4 2025Q1 2026: 371Q1 2026Q2 2026: 467Q2 2026

Total Exit/New Position Q2 2025 → Q3 2025

InstitutionsTotal Value
New Positions111$356.5M
Exits37$87.3M

All 13F filers, Q2 2025 → Q3 2025: 75,673,107 shares bought and 87,404,202 shares sold, net −11,731,095 shares. Counts holders who added, trimmed, opened or closed a position; split-adjusted.

Ownership 298 holders

V3 Holding Ltd 100.00% Reduce -32.5% 65,852,537 $829.1M
BlackRock, Inc. 0.01% Add +7.5% 24,049,336 $302.8M
Vanguard Group Inc. 0.00% Add +13.4% 22,814,653 $287.2M
Jane Street Group, LLC 0.16% Add +1829.9% 11,042,126 $139.0M
Susquehanna International Group, LLP 0.18% Add +124.6% 9,681,457 $121.9M
Geode Capital Management, LLC 0.01% Add +5.0% 7,606,121 $95.8M
State Street Corp. 0.00% Add +2.5% 7,333,393 $92.3M
Invesco Ltd. 0.01% Add +40.0% 6,852,074 $86.3M
Two Sigma Investments, LP 0.14% Add +64.9% 6,746,401 $84.9M
Tidal Investments LLC 0.33% Reduce -12.7% 6,097,823 $76.8M
Voloridge Investment Management, LLC 0.24% New 5,601,553 $70.5M
Value Aligned Research Advisors, LLC 1.48% New 5,104,537 $64.3M
Alpine Fox Capital LLC 53.06% — 5,001,000 $63.0M
Dimensional Fund Advisors LP 0.01% Reduce -22.7% 4,790,006 $60.3M
Citadel Advisors 0.04% Add +114.2% 4,198,307 $52.9M
Charles Schwab Investment Management Inc. 0.01% Add +0.3% 4,102,477 $51.7M
Wells Fargo & Company 0.01% Add +486.1% 3,996,570 $50.3M
D. E. Shaw & Co. 0.04% New 3,970,230 $50.0M
UBS Group AG 0.01% Add +149.7% 3,447,579 $43.4M
Vident Advisory, LLC 0.39% Reduce -31.1% 3,137,392 $39.5M
Millennium Management 0.03% Reduce -44.2% 2,770,458 $34.9M
Two Sigma Advisers, LP 0.07% Add +766.5% 2,764,200 $34.8M
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.06% Reduce -2.5% 2,723,905 $34.3M
JPMorgan Chase & Co. 0.00% Add +13.7% 2,531,173 $31.9M
BIT Capital GmbH 1.40% Reduce -71.6% 2,439,683 $30.7M
Tudor Investment Corporation 0.20% Add +2574.9% 2,386,854 $30.1M
Northern Trust Corp. 0.00% Add +8.5% 2,371,536 $29.9M
Group One Trading LLC 0.79% Add +62.1% 2,085,089 $26.3M
Private Advisor Group, LLC 0.11% Add +15.7% 1,789,462 $22.5M
HRT Financial LP 0.08% New 1,634,281 $20.6M
Bank of America Corp. 0.00% Add +15.1% 1,618,076 $20.4M
Van Eck Associates Corp. 0.02% Reduce -76.4% 1,565,167 $19.7M
Thames Capital Management LLC 2.77% New 1,514,664 $19.1M
Morgan Stanley 0.00% Reduce -32.8% 1,481,714 $18.7M
Goldman Sachs Group Inc. 0.00% Reduce -11.9% 1,480,410 $18.6M
Driehaus Capital Management LLC 0.13% New 1,443,311 $18.2M
American Century Companies Inc. 0.01% Add +138.2% 1,406,864 $17.7M
Alyeska Investment Group, L.P. 0.05% Reduce -82.7% 1,376,241 $17.3M
Exchange Traded Concepts, LLC 0.16% Add +27.5% 1,369,929 $17.2M
IMC-Chicago, LLC 0.29% Add +827.7% 1,317,217 $16.6M
Clearline Capital LP 1.33% New 1,220,530 $15.4M
Squarepoint Ops LLC 0.03% New 1,168,810 $14.7M
Jump Financial, LLC 0.17% Add +435.6% 1,031,479 $13.0M
Royal Bank of Canada 0.00% Reduce -40.7% 949,841 $12.0M
Bank of New York Mellon Corp 0.00% Reduce -1.5% 855,463 $10.8M
Cubist Systematic Strategies, LLC 0.15% New 828,144 $10.4M
Maridea Wealth Management LLC 1.58% Reduce -21.8% 509,856 $10.2M
Nuveen, LLC 0.00% Add +21.2% 723,346 $9.1M
First Trust Advisors LP 0.01% Add +81.3% 719,214 $9.1M
CastleKnight Management LP 0.46% Reduce -64.2% 677,700 $8.5M
HighTower Advisors, LLC 0.01% Reduce -56.9% 579,489 $7.3M
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.01% Add +27.3% 558,661 $7.0M
Tiptree Advisors, LLC 4.33% Add +266.7% 550,000 $6.9M
Walleye Trading LLC 0.11% Add +317.3% 535,690 $6.7M
Weiss Asset Management LP 0.12% Add +47.8% 534,900 $6.7M
Swiss National Bank 0.00% Add +4.2% 503,900 $6.3M
Parallax Volatility Advisers, L.P. 0.21% Add +273.6% 503,270 $6.3M
Aurelius Capital Management, LP 11.40% New 500,000 $6.3M
Two Seas Capital LP 0.35% Add +84.8% 462,000 $5.8M
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% Reduce -28.8% 457,523 $5.8M
Amundi 0.00% No change 364,381 $5.6M
Voya Investment Management LLC 0.01% Add +454.3% 400,090 $5.0M
Rhumbline Advisers 0.00% Add +2.0% 394,990 $5.0M
Citigroup Inc. 0.00% Add +197.0% 386,346 $4.9M
Barclays PLC 0.00% Reduce -22.4% 386,203 $4.9M
Caption Management, LLC 0.28% New 367,700 $4.6M
Trexquant Investment LP 0.05% New 357,167 $4.5M
Alight Capital Management LP 0.96% Add +60.0% 320,000 $4.0M
Galaxy Digital Capital Management GP LLC 3.78% Reduce -55.3% 307,430 $3.9M
Wolverine Trading, LLC 0.08% Add +538.9% 300,902 $3.8M
Legal & General Group Plc 0.00% Reduce -0.3% 297,564 $3.7M
Alliancebernstein L.P. 0.00% Add +5.1% 290,842 $3.7M
Harvest Portfolios Group Inc. 0.06% Add +71.6% 278,773 $3.5M
Informed Momentum Co LLC 0.38% New 270,242 $3.3M
Moneta Group Investment Advisors LLC 0.03% Add +23.7% 256,854 $3.2M
Walleye Capital LLC 0.03% New 249,649 $3.1M
LMR Partners LLP 0.06% New 247,350 $3.1M
Deutsche Bank AG 0.00% Add +1.9% 245,830 $3.1M
California State Teachers Retirement System 0.00% Reduce -11.3% 244,864 $3.1M
Regal Partners Ltd 0.22% New 239,015 $3.0M
Sender Co & Partners, Inc. 1.11% New 227,963 $2.9M
Toronto Dominion Bank 0.01% Add +1746.4% 216,597 $2.7M
T. Rowe Price Associates Inc. 0.00% Add +62.3% 215,001 $2.7M
Soros Fund Management 0.06% Reduce -84.0% 207,635 $2.6M
ExodusPoint Capital Management, LP 0.04% Add +254.0% 204,187 $2.6M
Algert Global LLC 0.04% New 203,010 $2.6M
Blackstone Inc. 0.01% New 200,000 $2.5M
Hennion & Walsh Asset Management, Inc. 0.09% Reduce -3.5% 193,702 $2.4M
Victory Capital Management Inc. 0.00% Reduce -68.5% 190,550 $2.4M
Boothbay Fund Management, LLC 0.06% New 169,556 $2.1M
Cantor Fitzgerald, L. P. 0.04% Add +453.5% 161,131 $2.0M
MetLife Investment Management, LLC 0.01% Reduce -3.0% 155,789 $2.0M
Monashee Investment Management LLC 0.97% New 150,000 $1.9M
Manufacturers Life Insurance Company, The 0.00% Add +19.9% 149,610 $1.9M
Point72 Asset Management 0.00% Reduce -96.0% 148,125 $1.9M
Tortoise Capital Advisors, L.L.C. 0.02% New 145,214 $1.8M
Centaurus Financial, Inc. 0.08% Add +5.1% 136,641 $1.7M
Optiver Holding B.V. 0.03% Add +281.5% 135,512 $1.7M
Concentric Capital Strategies, LP 0.08% New 130,949 $1.6M
FORA Capital, LLC 0.28% New 127,619 $1.6M
Headlands Technologies LLC 0.12% New 122,822 $1.5M
Federated Hermes, Inc. 0.00% Add +20172.1% 121,227 $1.5M
Brevan Howard Capital Management LP 0.02% Reduce -89.6% 116,339 $1.5M
Janus Henderson Group PLC 0.00% Add +26.8% 112,428 $1.4M
Soltis Investment Advisors LLC 0.10% New 110,228 $1.4M
Creative Planning 0.00% Reduce -8.6% 105,251 $1.3M
Kestra Advisory Services, LLC 0.01% Add +3.1% 102,425 $1.3M
State of Wisconsin Investment Board 0.00% Add +261.5% 92,702 $1.2M
Gladstone Institutional Advisory LLC 0.04% Add +213.7% 90,960 $1.1M
Cambridge Investment Research Advisors, Inc. 0.00% Add +2.0% 88,947 $1.1M
LPL Financial LLC 0.00% New 87,555 $1.1M
Vennlight Capital Management, LP 1.43% Reduce -91.6% 87,200 $1.1M
XTX Topco Ltd 0.06% Add +188.8% 85,799 $1.1M
Wealth Enhancement Advisory Services, LLC 0.00% Reduce -18.0% 67,846 $1.1M
New York State Common Retirement Fund 0.00% No change 83,882 $1.1M
Polymer Capital Management (US) LLC 0.14% New 82,817 $1.0M
Intech Investment Management LLC 0.01% Reduce -47.6% 81,291 $1.0M
Ionic Capital Management LLC 1.26% New 80,000 $1.0M
Sigma Planning Corp 0.03% New 78,960 $994K
Franklin Resources Inc. 0.00% Add +276.4% 76,968 $969K
Arizona State Retirement System 0.01% Add +4.3% 76,841 $967K
W1M Asset Management Ltd 0.07% New 75,000 $944K
Round Rock Advisors LLC 0.15% New 74,951 $944K
Police & Firemen's Retirement System of New Jersey 0.01% Add +24.4% 74,922 $943K
Quantessence Capital LLC 0.30% New 74,782 $942K
Nomura Holdings Inc. 0.00% New 74,192 $934K
SG Americas Securities, LLC 0.00% New 73,162 $921K
Duncan Williams Asset Management, LLC 0.26% Add +0.1% 73,004 $919K
Corsair Capital Management, L.P. 0.16% New 70,840 $892K
Napa Wealth Management 0.42% New 70,488 $887K
Farther Finance Advisors, LLC 0.01% Add +19.1% 66,715 $840K
Harvest Investment Services, LLC 0.17% New 66,380 $836K
Mitsubishi UFJ Asset Management Co., Ltd. 0.00% Add +3.5% 63,138 $795K
FNY Investment Advisers, LLC 0.26% Add +171.5% 62,809 $790K
Caitong International Asset Management Co., Ltd 0.54% New 61,837 $779K
BNP Paribas Financial Markets 0.00% Add +95.1% 61,789 $778K
KLP Kapitalforvaltning As 0.00% Add +19.1% 56,800 $715K
Impact Partnership Wealth, LLC 0.11% Add +10.8% 56,647 $713K
Truist Financial Corp. 0.00% Add +10.2% 55,100 $694K
AQR Capital Management 0.00% Add +141.0% 54,067 $681K
Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% Add +33.1% 53,214 $670K
Banco Bilbao Vizcaya Argentaria, S.A. 0.01% Reduce -27.4% 53,041 $663K
Tyche Wealth Partners LLC 0.12% No change 52,500 $661K
National Philanthropic Trust 0.01% New 51,616 $650K
Sei Investments Co. 0.00% New 50,244 $633K
Timelo Investment Management Inc. 1.04% New 50,000 $630K
Ensign Peak Advisors, Inc 0.00% New 49,900 $628K
Balyasny Asset Management L.P. 0.00% Reduce -93.6% 47,432 $597K
Abich Financial Wealth Management LLC 0.21% — 46,810 $589K
Limestone Investment Advisors LP 0.28% New 46,434 $585K
ProShare Advisors LLC 0.00% Reduce -16.6% 45,353 $571K
SummitTX Capital, L.P. 0.02% New 44,651 $562K
Mariner, LLC 0.00% Reduce -48.3% 44,075 $555K
Y-Intercept (Hong Kong) Ltd 0.01% New 43,229 $544K
Pictet Asset Management Holding SA 0.00% Add +7.6% 41,531 $523K
Intrua Financial, LLC 0.06% Add +91.5% 39,726 $500K
Gsa Capital Partners LLP 0.04% New 38,790 $488K
J.W. Cole Advisors, Inc. 0.01% Add +90.5% 38,475 $484K
Sanctuary Advisors, LLC 0.00% New 38,325 $483K
FMR LLC 0.00% Add +202.9% 37,397 $471K
Tru Independence Asset Management 2, LLC 0.30% No change 36,760 $463K
HAP Trading, LLC 0.13% — 36,602 $461K
Prudential Financial Inc. 0.00% Add +7.5% 33,970 $428K
Teacher Retirement System of Texas 0.00% Reduce -11.6% 33,841 $426K
Navellier & Associates Inc. 0.04% Reduce -1.4% 33,022 $416K
State Board of Administration of Florida Retirement System 0.00% No change 31,820 $401K
Phoenix Financial Ltd. 0.00% Reduce -63.0% 30,231 $381K
Russell Investments Group, Ltd. 0.00% Add +313.0% 29,673 $374K
Central Asset Investments & Management Holdings (HK) Ltd 0.26% New 29,500 $371K
Vanguard Personalized Indexing Management, LLC 0.00% Add +10.0% 29,247 $368K
Bluefin Capital Management, LLC 0.20% New 29,172 $367K
Stifel Financial Corp. 0.00% New 28,946 $364K
Leonteq Securities AG 0.02% Reduce -86.2% 28,720 $362K
CIBC Bancorp USA Inc. 0.00% — 28,273 $356K
Cetera Investment Advisers 0.00% New 27,734 $349K
SBI Securities Co., Ltd. 0.01% Add +64.0% 27,561 $347K
Commonwealth Equity Services, LLC 0.00% New 27,127 $342K
Fifth Third Wealth Advisors LLC 0.01% New 25,669 $323K
Belvedere Trading LLC 0.03% Add +99.4% 25,297 $318K
MassMutual Private Wealth & Trust, FSB 0.01% New 25,000 $315K
Tradition Wealth Management, LLC 0.02% New 24,757 $312K
X-Square Capital, LLC 0.09% New 23,800 $300K
R Squared Ltd 0.12% Add +38.0% 22,819 $287K
Arosa Capital Management LP 0.46% Reduce -92.5% 22,636 $285K
Greenleaf Trust 0.00% Add +0.4% 22,596 $284K
Ameritas Investment Partners, Inc. 0.01% Reduce -18.2% 22,159 $279K
Strategic Blueprint, LLC 0.01% No change 21,608 $272K
Point72 (DIFC) Ltd 0.02% New 21,290 $268K
Simplex Trading, LLC 0.01% Reduce -86.8% 21,061 $265K
Sippican Capital Advisors 0.17% Reduce -2.8% 21,000 $264K
Xponance LLC 0.00% Reduce -1.1% 20,677 $260K
NewEdge Advisors, LLC 0.00% New 19,562 $246K
Captrust Financial Advisors 0.00% Add +13.4% 18,725 $236K
Principal Financial Group Inc. 0.00% Add +1.9% 18,504 $233K
Sterling Capital Management LLC 0.00% Add +156.5% 18,365 $231K
Advisory Services Network, LLC 0.00% New 17,484 $220K
Axq Capital, LP 0.08% New 17,028 $214K
Abundance Wealth Counselors 0.04% New 17,000 $214K
Mackenzie Financial Corp. 0.00% Add +28.3% 16,803 $212K
CI Investments Inc. 0.00% Reduce -56.8% 15,793 $199K
Synergy Asset Management, LLC 0.01% New 15,647 $197K
Ameriprise Financial Inc. 0.00% Add +54.1% 15,545 $196K
Pathstone Holdings, LLC 0.00% New 15,382 $194K
Weaver Consulting Group 0.05% New 15,008 $189K
Strategy Asset Managers LLC 0.03% New 15,000 $189K
Gabelli Funds LLC 0.00% No change 15,000 $189K
Prospera Financial Services Inc 0.00% New 14,620 $184K
Schonfeld Strategic Advisors LLC 0.00% Reduce -97.3% 14,532 $183K
Signal Advisors Wealth, LLC 0.02% Add +41.2% 14,122 $178K
Chesapeake Asset Management LLC 0.16% New 14,000 $176K
Maripau Wealth Management LLC 0.09% Add +40.0% 14,000 $176K
Scott Capital Advisors, LLC 0.04% New 10,000 $176K
StoneX Group Inc. 0.01% New 13,767 $173K
FourThought Financial Partners, LLC 0.02% New 13,720 $173K
GTS Securities LLC 0.01% Reduce -45.0% 12,885 $162K
DKM Wealth Management, Inc. 0.13% New 12,475 $157K
Wedbush Securities Inc. 0.01% New 12,350 $155K
Summit Financial, LLC 0.00% New 12,244 $154K
Swiss Life Asset Management Ltd 0.00% New 11,812 $149K
Mgo One Seven LLC 0.00% New 11,728 $148K
JTC Employer Solutions Trustee Ltd 0.01% New 21,225 $147K
Tower Research Capital LLC (TRC) 0.00% Reduce -63.3% 11,663 $147K
Rafferty Asset Management, LLC 0.00% Add +2.5% 11,618 $146K
W Advisors, LLC 0.08% No change 11,570 $146K
Vontobel Holding Ltd. 0.00% Reduce -87.8% 11,548 $145K
Envestnet Asset Management Inc. 0.00% New 11,463 $144K
Thompson Davis & Co., Inc. 0.09% New 11,450 $144K
Mercer Global Advisors Inc. 0.00% Add +6.3% 11,409 $144K
Neuberger Berman Group LLC 0.00% New 10,640 $134K
Janney Montgomery Scott LLC 0.00% Add +5.0% 10,500 $132K
Peapack Gladstone Financial Corp. 0.00% New 10,425 $131K
Forum Financial Management, LP 0.00% No change 10,300 $130K
Private Capital Advisors, Inc. 0.01% New 10,000 $126K
KBC Group NV 0.00% No change 9,925 $125K
AlphaQuest LLC 0.01% New 9,131 $115K
Steward Partners Investment Advisory, LLC 0.00% Reduce -8.2% 8,300 $104K
Ameritas Advisory Services, LLC 0.01% Add +42110.5% 8,020 $101K
Amalgamated Bank 0.00% No change 7,014 $88K
Lazard Asset Management LLC 0.00% Add +856.4% 6,255 $79K
Rockefeller Capital Management L.P. 0.00% New 6,225 $78K
STRS Ohio 0.00% New 6,000 $76K
CoreCap Advisors, LLC 0.00% Reduce -35.7% 5,850 $74K
Nisa Investment Advisors, LLC 0.00% No change 5,609 $71K
PNC Financial Services Group, Inc. 0.00% Add +184.3% 5,328 $67K
Parallel Advisors, LLC 0.00% Add +663.0% 4,166 $52K
Osaic Holdings, Inc. 0.00% Reduce -87.7% 3,305 $35K
Hollencrest Capital Management 0.00% New 2,500 $31K
Point72 Europe (London) LLP 0.00% New 2,431 $31K
BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.00% Add +11.5% 2,369 $30K
Signaturefd, LLC 0.00% Add +26.1% 2,084 $26K
Sherman Asset Management, Inc. 0.02% New 2,008 $25K
Peterson Wealth Services 0.01% New 3,289 $24K
Cwm, LLC 0.00% Add +8.2% 1,857 $23K
Marathon Trading Investment Management LLC 0.01% New 1,500 $19K
Allworth Financial LP 0.00% Add +47.9% 1,325 $17K
Mirae Asset Global Investments Co., Ltd. 0.00% Reduce -6.0% 1,096 $14K
Hantz Financial Services, Inc. 0.00% New 1,000 $13K
Global Retirement Partners, LLC 0.00% New 1,029 $13K
Sunbelt Securities, Inc. 0.00% New 950 $12K
Comerica Bank 0.00% Add +42.2% 947 $12K
Capital Analysts, LLC 0.00% No change 903 $11K
Cloud Capital Management, LLC 0.01% New 800 $10K
Morse Asset Management, Inc 0.00% New 660 $8K
GAMMA Investing LLC 0.00% New 589 $7K
Rothschild Investment LLC 0.00% Reduce -19.1% 550 $7K
Accredited Wealth Management, LLC 0.00% New 500 $6K
NFSG Corp 0.00% New 500 $6K
Arax Advisory Partners 0.00% New 488 $6K
Fortitude Family Office, LLC 0.00% No change 486 $6K
Larson Financial Group LLC 0.00% New 429 $5K
Sittner & Nelson, LLC 0.00% Reduce -20.0% 400 $5K
Wealthspire Advisors, LLC 0.00% New 373 $5K
Federation des caisses Desjardins du Quebec 0.00% New 370 $5K
Quarry LP 0.00% New 296 $4K
Glen Eagle Advisors, LLC 0.00% No change 280 $4K
GPS Wealth Strategies Group, LLC 0.00% New 261 $3K
Essential Partners LLC 0.00% Add +0.5% 217 $3K
Danske Bank A/S 0.00% No change 200 $3K
Parkside Financial Bank & Trust 0.00% No change 200 $3K
KERR FINANCIAL PLANNING Corp 0.00% — 177 $3K
US Bancorp \de 0.00% New 178 $2K
Avion Wealth 0.00% No change 225 $2K
IFP Advisors, Inc 0.00% Add +11.1% 150 $2K
TD Capital Management LLC 0.00% No change 113 $1K
MAI Capital Management 0.00% No change 107 $1K
Vision Financial Markets LLC 0.00% No change 100 $1K
Redwood Park Advisors LLC 0.00% New 100 $1K
American Capital Advisory, LLC 0.00% New 100 $1K
SWAN Capital LLC 0.00% No change 100 $1K
Principal Securities, Inc. 0.00% New 100 $1K
Smartleaf Asset Management LLC 0.00% New 98 $1K
EverSource Wealth Advisors, LLC 0.00% Add +304.4% 93 $1K
CIBC Private Wealth Group LLC 0.00% No change 89 $1K
Covestor Ltd 0.00% No change 39 $1K
Clearstead Advisors, LLC 0.00% No change 64 $806
Crowley Wealth Management, Inc. 0.00% No change 19 $239
Strategic Wealth Partners, Ltd. 0.00% New 10 $126
Atlantic Union Bankshares Corp 0.00% New 3 $39

"% of holder's portfolio" is CIFR's weight in each manager's 13F, not the share of Cipher Digital Inc. the manager owns.