IC
Ionic Capital Management LLC 13F Holdings & Position Changes (Q2 2026)
Ionic Capital Management LLCCIK: 0001386462
Concentrated strategySector-focusedHigh-turnover trader
Total reported value
$690.3M
Reporting period: 2026-06-30 · Number of holdings: 120
Ionic Capital Management LLC disclosed 120 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $690.3M and a quarterly turnover rate of 76.0%.
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Personality snowflake
- Concentration
- 100
- Portfolio Stability
- 76.01
- Momentum
- 42.76
- Sector conviction
- 93.47
- Diversification
- 100
- Sizing Uniformity
- 14.33
Ionic Capital Management LLC's disclosed holdings carry a Herfindahl concentration index of 0.658 — mathematically equivalent to about 2 equally-sized positions, well below its 120 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 8.57), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 12% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd HYG
-39.6% -$362.5M
Sold out IWM
Sold out LQD
Sold out QQQ
Sold out EEM
Add EWZ
+77.3% $4.4M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 112 holdings (of 120 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | ETF-High Yield | 81.09% | +13.69% | -39.62% | |
| 2 | EWZ | Ishares Msci Brazil ETF | ETF-Other | 1.72% | +1.18% | +77.28% | |
| 3 | FLEX | Flex Ltd. | Stock-Tech | 0.95% | +0.70% | -19.90% | |
| 4 | U 0 03-15-30Bond | Unity Software Inc | Bond | 0.71% | +0.53% | +74.00% | |
| 5 | ✓ | Stock-Other | 0.66% | +0.66% | NEW | ||
| 6 | AKAM | Akamai Technologies Inc | Stock-Tech | 0.59% | +0.36% | +29.01% | |
| 7 | NEM | Newmont CORP | Stock-Materials | 0.53% | +0.49% | +616.36% | |
| 8 | TNL | Travel + Leisure Co | Stock-Consumer Disc | 0.51% | +0.25% | -10.66% | |
| 9 | CSTM | Constellium SE | Stock-Other | 0.51% | +0.19% | -38.21% | |
| 10 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.45% | +0.33% | +93.34% | |
| 11 | JHX | James Hardie Industries plc | Stock-Other | 0.44% | +0.29% | +9.42% | |
| 12 | GXO | Gxo Logistics Inc | Stock-Industrials | 0.41% | +0.20% | — | |
| 13 | ORCL | Oracle CORP | Stock-Tech | 0.41% | +0.30% | +93.06% | |
| 14 | YETI | Yeti Holdings Inc | Stock-Consumer Disc | 0.39% | +0.25% | +4.76% | |
| 15 | FIS | Fidelity National Info Serv | Stock-Tech | 0.35% | +0.27% | +169.57% | |
| 16 | ALAB | Astera Labs Inc | Stock-Tech | 0.34% | +0.32% | +80.19% | |
| 17 | FLS | Flowserve CORP | Stock-Industrials | 0.33% | +0.19% | +14.81% | |
| 18 | MSTR | Strategy Inc | Stock-Tech | 0.33% | +0.28% | +422.65% | |
| 19 | MU | Micron Technology Inc | Stock-Tech | 0.32% | +0.18% | -66.75% | |
| 20 | GMED | Globus Medical Inc - A | Stock-Healthcare | 0.32% | +0.19% | +34.96% | |
| 21 | PRMB | Primo Brands CORP | Stock-Consumer Staples | 0.32% | +0.15% | -28.66% | |
| 22 | SOLS | Solstice Adv Materials Inc | Stock-Materials | 0.31% | +0.17% | — | |
| 23 | COF | Capital One Financial CORP | Stock-Financials | 0.28% | +0.28% | NEW | |
| 24 | REZI | Resideo Technologies Inc | Stock-Industrials | 0.28% | +0.17% | +37.16% | |
| 25 | XZO | Exzeo Group Inc | Stock-Other | 0.28% | +0.20% | +46.83% | |
| 26 | MSTR 8 PERPBond | Strategy Inc | Bond | 0.28% | +0.08% | -12.48% | |
| 27 | SARO | Standardaero Inc | Stock-Other | 0.28% | +0.21% | +78.08% | |
| 28 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 0.27% | +0.27% | NEW | |
| 29 | CRWV | Coreweave Inc-cl A | Stock-Tech | 0.24% | +0.20% | +144.07% | |
| 30 | AIOT | Powerfleet Inc | Stock-Other | 0.24% | +0.12% | -23.30% | |
| 31 | AVGO | Broadcom Inc | Stock-Tech | 0.22% | +0.16% | +61.87% | |
| 32 | ITT | Itt Inc | Stock-Industrials | 0.21% | +0.21% | NEW | |
| 33 | XSSPX | Nuveen S&p 500 Dynam Overwr | Stock-Other | 0.21% | +0.06% | -41.70% | |
| 34 | RH | Rh | Stock-Consumer Disc | 0.21% | +0.08% | -34.14% | |
| 35 | QQQX | Nuveen Nasdaq 100 Dyn Overwr | Stock-Other | 0.19% | +0.06% | -34.28% | |
| 36 | CRDO | Credo Technology Group Holding Ltd | Stock-Tech | 0.17% | +0.15% | +31.06% | |
| 37 | ARM | Arm Holdings Plc-adr | Stock-Tech | 0.16% | +0.12% | -20.00% | |
| 38 | AMD | Advanced Micro Devices | Stock-Tech | 0.16% | +0.10% | -50.44% | |
| 39 | AAPL | Apple Inc | Stock-Tech | 0.15% | +0.08% | — | |
| 40 | EWY | Ishares Msci South Korea ETF | ETF-Other | 0.15% | +0.12% | +49.09% | |
| 41 | WIW | Western Asst Infl-lnk Opp | Stock-Other | 0.14% | +0.03% | -32.66% | |
| 42 | CLSK | Cleanspark Inc | Stock-Financials | 0.14% | +0.11% | +25.57% | |
| 43 | GME | GameStop Corp. | Stock-Consumer Disc | 0.14% | +0.14% | NEW | |
| 44 | DSGX | Descartes Systems Grp/the | Stock-Tech | 0.13% | +0.13% | NEW | |
| 45 | MSI | Motorola Solutions Inc | Stock-Tech | 0.13% | +0.13% | NEW | |
| 46 | BE | Bloom Energy Corp- A | Stock-Industrials | 0.12% | +0.12% | NEW | |
| 47 | ✓ | Stock-Other | 0.12% | +0.12% | NEW | ||
| 48 | ORCL 6.5 01-15-29 DBond | Oracle CORP | Bond | 0.11% | +0.02% | -40.00% | |
| 49 | LITE | Lumentum Holdings Inc | Stock-Tech | 0.10% | +0.02% | -43.18% | |
| 50 | GDX | Vaneck Gold Miners ETF | ETF-Commodities | 0.10% | -0.04% | -53.77% |
1–50 of 112
Portfolio Performance
Performance for Q3 2026
-0.4%
Performance Last 4 Quarters
+13.5%
- Stdev
- +14.6%
- Beta
- +0.93
- Alpha
- -5.3%
- Max Drawdown
- -7.3%
- Annualized Perf
- +13%
- Batting Avg vs S&P
- +36.1%
- Sortino
- +1.78
- Stutzer
- +0.27
- Treynor
- +0.14
- Sterling
- +0.82
- Calmar
- +1.78
- Information Ratio
- -0.81
- Tracking Error
- +8.3%
- Stdev Down
- +7.5%
- Winning Months %
- +63.9%
- Losing Months %
- +36.1%
- Best 12 Months
- +34.1%
- Worst 12 Months
- -0.9%
- Efficiency Ratio
- +0.37
- Sharpe
- +0.92
- Stdev Sectors
- +15.3%
- Skewness
- +0.37
- Kurtosis
- -0.2
- Upside Potential
- +3.55
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 120 | $690.3M | 76 | ||
| 2026 Q1 | 165 | $1.4B | 71 | ||
| 2025 Q4 | 147 | $785.9M | 56 | ||
| 2025 Q3 | 130 | $958.5M | 93 | ||
| 2025 Q2 | 144 | $349.4M | 0 | ||
| 2025 Q1 | 129 | $763.1M | 100 | ||
| 2024 Q4 | 104 | $977.0M | 0 | ||
| 2024 Q3 | 145 | $577.5M | 0 | ||
| 2024 Q2 | 149 | $585.9M | 0 | ||
| 2024 Q1 | 148 | $310.3M | 0 | ||
| 2023 Q4 | 190 | $407.7M | 0 | ||
| 2023 Q3 | 246 | $410.6M | 0 | ||
| 2023 Q2 | 260 | $350.4M | 0 | ||
| 2023 Q1 | 333 | $342.9M | 0 | ||
| 2022 Q4 | 357 | $422.4M | 0 | ||
| 2022 Q3 | 473 | $728.5M | 0 | ||
| 2022 Q2 | 432 | $842.1M | 0 | ||
| 2022 Q1 | 434 | $877.8M | 0 | ||
| 2021 Q4 | 377 | $785.7M | 0 | ||
| 2021 Q3 | 333 | $790.4M | 0 | ||
| 2021 Q2 | 379 | $958.8M | 90 | ||
| 2021 Q1 | 326 | $785.3M | 100 | ||
| 2020 Q4 | 240 | $716.0M | 100 | ||
| 2020 Q3 | 209 | $1.2B | 100 | ||
| 2020 Q2 | 215 | $514.6M | 100 | ||
| 2020 Q1 | 126 | $123.1M | 100 | ||
| 2019 Q4 | 146 | $194.6M | 100 | ||
| 2019 Q3 | 138 | $629.1M | 80 | ||
| 2019 Q2 | 105 | $963.3M | 57 | ||
| 2019 Q1 | 98 | $641.2M | 100 | ||
| 2018 Q4 | 140 | $990.3M | 78 | ||
| 2018 Q3 | 136 | $1.2B | 53 | ||
| 2018 Q2 | 208 | $1.7B | 88 | ||
| 2018 Q1 | 244 | $1.6B | 65 | ||
| 2017 Q4 | 389 | $2.4B | 56 | ||
| 2017 Q3 | 355 | $2.5B | 72 | ||
| 2017 Q2 | 355 | $1.9B | 72 | ||
| 2017 Q1 | 384 | $1.6B | 91 | ||
| 2016 Q4 | 423 | $1.8B | 86 | ||
| 2016 Q3 | 447 | $2.3B | 79 | ||
| 2016 Q2 | 377 | $2.3B | 71 | ||
| 2016 Q1 | 345 | $1.7B | 98 | ||
| 2015 Q4 | 395 | $1.5B | 88 | ||
| 2015 Q3 | 348 | $1.8B | 75 | ||
| 2015 Q2 | 314 | $2.1B | 100 | ||
| 2015 Q1 | 326 | $2.5B | 0 | ||
| 2014 Q4 | 327 | $3.6B | 48 | ||
| 2014 Q3 | 257 | $3.2B | 57 | ||
| 2014 Q2 | 268 | $3.1B | 74 | ||
| 2014 Q1 | 260 | $2.8B | 94 | ||
| 2013 Q4 | 275 | $3.5B | 93 | ||
| 2013 Q3 | 275 | $3.0B | 66 | ||
| 2013 Q2 | 310 | $3.3B | 0 |
Holding changes this quarter
Ionic Capital Management LLC's most significant position changes for 2026-06-30: Sold out: Ishares Russell 2000 ETF (IWM); Sold out: Ishr Ibx Usd Invgd Cb Etf-ui (LQD); Sold out: Invesco Qqq Trust Series 1 (QQQ); Sold out: Ishares Msci Emerging Market (EEM); Sold out: Akamai Technologies Inc (AKAM 1.125 02-15-29).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | +13.7% | -39.62% | Trim |
| 2 | EWZ | Ishares Msci Brazil ETF | +1.2% | +77.28% | Add |
| 3 | FLEX | Flex Ltd. | +0.7% | -19.90% | Trim |
| 4 | ✓ | +0.7% | NEW | New buy | |
| 5 | U 0 03-15-30Bond | Unity Software Inc | +0.5% | +74.00% | Add |
| 6 | NEM | Newmont CORP | +0.5% | +616.36% | Add |
| 7 | AKAM | Akamai Technologies Inc | +0.4% | +29.01% | Add |
| 8 | META | Meta Platforms Inc-class A | +0.3% | +93.34% | Add |
| 9 | ALAB | Astera Labs Inc | +0.3% | +80.19% | Add |
| 10 | ORCL | Oracle CORP | +0.3% | +93.06% | Add |
| 11 | JHX | James Hardie Industries plc | +0.3% | +9.42% | Add |
| 12 | COF | Capital One Financial CORP | +0.3% | NEW | New buy |
| 13 | MSTR | Strategy Inc | +0.3% | +422.65% | Add |
| 14 | SPY | Ss Spdr S&p 500 ETF Trust-us | +0.3% | NEW | New buy |
| 15 | FIS | Fidelity National Info Serv | +0.3% | +169.57% | Add |
| 16 | YETI | Yeti Holdings Inc | +0.3% | +4.76% | Add |
| 17 | TNL | Travel + Leisure Co | +0.3% | -10.66% | Trim |
| 18 | ITT | Itt Inc | +0.2% | NEW | New buy |
| 19 | SARO | Standardaero Inc | +0.2% | +78.08% | Add |
| 20 | CRWV | Coreweave Inc-cl A | +0.2% | +144.07% | Add |
| 21 | XZO | Exzeo Group Inc | +0.2% | +46.83% | Add |
| 22 | GXO | Gxo Logistics Inc | +0.2% | — | Unchanged |
| 23 | CSTM | Constellium SE | +0.2% | -38.21% | Trim |
| 24 | GMED | Globus Medical Inc - A | +0.2% | +34.96% | Add |
| 25 | FLS | Flowserve CORP | +0.2% | +14.81% | Add |
| 26 | MU | Micron Technology Inc | +0.2% | -66.75% | Trim |
| 27 | REZI | Resideo Technologies Inc | +0.2% | +37.16% | Add |
| 28 | SOLS | Solstice Adv Materials Inc | +0.2% | — | Unchanged |
| 29 | AVGO | Broadcom Inc | +0.2% | +61.87% | Add |
| 30 | CRDO | Credo Technology Group Holding Ltd | +0.2% | +31.06% | Add |
| 31 | PRMB | Primo Brands CORP | +0.2% | -28.66% | Trim |
| 32 | GME | GameStop Corp. | +0.1% | NEW | New buy |
| 33 | DSGX | Descartes Systems Grp/the | +0.1% | NEW | New buy |
| 34 | MSI | Motorola Solutions Inc | +0.1% | NEW | New buy |
| 35 | BE | Bloom Energy Corp- A | +0.1% | NEW | New buy |
| 36 | ✓ | +0.1% | NEW | New buy | |
| 37 | EWY | Ishares Msci South Korea ETF | +0.1% | +49.09% | Add |
| 38 | ARM | Arm Holdings Plc-adr | +0.1% | -20.00% | Trim |
| 39 | AIOT | Powerfleet Inc | +0.1% | -23.30% | Trim |
| 40 | CLSK | Cleanspark Inc | +0.1% | +25.57% | Add |
| 41 | AMD | Advanced Micro Devices | +0.1% | -50.44% | Trim |
| 42 | RKT | Rocket Cos Inc-class A | +0.1% | NEW | New buy |
| 43 | MSTR 8 PERPBond | Strategy Inc | +0.1% | -12.48% | Trim |
| 44 | ✓ | +0.1% | NEW | New buy | |
| 45 | RH | Rh | +0.1% | -34.14% | Trim |
| 46 | AAPL | Apple Inc | +0.1% | — | Unchanged |
| 47 | RVMD | Revolution Medicines Inc | +0.1% | NEW | New buy |
| 48 | XSSPX | Nuveen S&p 500 Dynam Overwr | +0.1% | -41.70% | Trim |
| 49 | QQQX | Nuveen Nasdaq 100 Dyn Overwr | +0.1% | -34.28% | Trim |
| 50 | NSC | Norfolk Southern CORP | +0.1% | NEW | New buy |
1–50 of 176
Filing History
FAQ
What is Ionic Capital Management LLC and what type of investor is it?
Ionic Capital Management LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $690.3M, spread across 120 disclosed positions.
What are Ionic Capital Management LLC's largest equity positions?
Based on the latest 13F filing, Ionic Capital Management LLC's top holdings by market value are:
1. Ishr Ibx Usd Hiyld Cb Etf-ui (HYG) — $559.8M (81.1%)
2. Ishares Msci Brazil ETF (EWZ) — $11.9M (1.7%)
3. Flex Ltd. (FLEX) — $6.5M (0.9%)
4. Unity Software Inc (U 0 03-15-30) — $4.9M (0.7%)
5. — $4.6M (0.7%)
What changes did Ionic Capital Management LLC make in its most recent portfolio filing?
In the latest reported quarter, Ionic Capital Management LLC made 169 notable position adjustments: 26 new positions were initiated, 25 existing holdings were added to, 54 positions were partially reduced, and 64 were completely exited. The largest of these moves: Sold out: Ishares Russell 2000 ETF (IWM); Sold out: Ishr Ibx Usd Invgd Cb Etf-ui (LQD); Sold out: Invesco Qqq Trust Series 1 (QQQ); Sold out: Ishares Msci Emerging Market (EEM); Sold out: Akamai Technologies Inc (AKAM 1.125 02-15-29)
What sectors does Ionic Capital Management LLC focus on?
Ionic Capital Management LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 52.1%
• Industrials: 11.7%
• Consumer Discretionary: 11.3%
• Materials: 7.3%
• Financials: 6.5%
• Communication Services: 4.8%
Investment Profile
Ionic Capital Management LLC returned an annualized 13.0% over the trailing 36 months — underperforming the S&P 500 by 5.3 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.93 (roughly in line with the market) and a 36% quarterly batting average against the index.
Its portfolio is concentrated and fast-trading, with 52.1% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 76 over the past 4 quarters — a shift toward more active trading.
It has added to its FLEX position over the past two quarters (+$3.5M, now $6.5M), while trimming GDX over the same stretch (-$1.8M, still holding $719.9K).
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Developer Access
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