CL

Ctc LLC

Sector-focusedMomentum followerQuality / disciplined sizing

Total reported value

$2.2B

Reporting period: 2026-03-31 · Number of holdings: 112

CTC LLC disclosed 112 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $2.2B and a quarterly turnover rate of 13.7%.

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Personality snowflake

Concentration
58.4
Portfolio Stability
13.7
Momentum/Contrarian
100
Sector conviction
100
Diversification
88
Sizing Uniformity
76.44

Recent moves

  • Add GLD

    -6.7%　$9.3B

  • Trim QQQ

    +2.2%　-$1.3B

  • Add MU

    +6.3%　$2.9B

  • Trim SPY

    -5.3%　$1.1B

  • Trim TSLA

    +103.7%　-$1.8B

  • Trim NVDA

    -63.5%　-$1.7B

Holdings Map

New buyAddUnchangedTrim

Institutional Game-State Analysis

Core Intent

CTC LLC is hunting Alpha via a tactical rotation from passive index exposure and gold into high-conviction semiconductor names (MU, TSM) and high-yield credit (HYG), all while trimming its NVDA position and reducing SPY/QQQ weight. This is a conviction pivot: substituting broad beta for an active bet on the AI hardware cycle and credit markets, with TSLA added as a complementary discretionary play.

Macro & Fundamentals

CTC LLC's flows are telegraphing a bet on a 'Goldilocks' economy — no recession, inflation contained, and AI-driven capex intact. They are rotating out of gold (inflation hedge) and into high-yield credit and semiconductor cyclicals, precisely the opposite of a defensive positioning. The opposing thesis weighing on the other side: a credit event or recession spike that would crater high-yield and cyclical tech, while gold rerates — exactly the trade they are exiting.

Blind Spots / Risks

CTC LLC's extreme factor and sector clustering is the ticking bomb: 77.6% combined in Technology and Consumer Discretionary, coupled with extreme momentum factor loading (momentum tilt score 2.27). If the AI trade falters, both the ETF collars (SPY/QQQ) and the concentrated semiconductor bets will compound losses together, reminiscent of a long-only momentum crash. The addition of HYG further extends the risk-on chain with no explicit tail hedge.

The above is AI-generated from public regulatory filings and summarizes historical data only. It is not investment advice.

Top 10 holdings by weight

Full holdings list this quarter

Showing top 44 holdings (of 112 total)

#TickerIssuerAsset SubclassWeightWeight ChangeShares Change4Q Trend
1SPYSs Spdr S&p 500 ETF Trust-usETF-Large Cap & Growth30.34%-1.28%-5.32%
2QQQInvesco Qqq Trust Series 1ETF-Tech14.47%-1.50%+2.24%
3GLDSpdr Gold SharesETF-Commodities14.01%+3.69%-6.71%
4HYGIshr Ibx Usd Hiyld Cb Etf-uiETF-High Yield6.37%+1.05%+123.38%
5TSLATesla INCStock-Consumer Disc5.30%-1.18%+103.73%
6NVDANvidia CORPStock-Tech3.97%-1.06%-63.46%
7SLVIshares Silver TrustETF-Commodities3.53%-0.22%+49.58%
8GOOGAlphabet Inc-cl CStock-Comm Services3.33%-0.38%+91.28%
9METAMeta Platforms Inc-class AStock-Comm Services2.26%-0.16%+54.72%
10MSFTMicrosoft CORPStock-Tech1.93%-0.20%+48.84%
11MUMicron Technology INCStock-Tech1.88%+1.30%+6.26%
12AAPLApple INCStock-Tech1.80%-0.30%+24.33%
13AMZNAmazon.com INCStock-Consumer Disc1.63%+0.11%+72.79%
14TSMTaiwan Semiconductor-sp AdrStock-Tech1.22%+0.58%+238.07%
15AMDAdvanced Micro DevicesStock-Tech1.21%-0.17%+116.77%
16AVGOBroadcom INCStock-Tech1.09%+0.05%-46.17%
17MSTRStrategy INCStock-Tech1.07%-0.57%+52.21%
18PLTRPalantir Technologies Inc-aStock-Tech0.93%-0.21%-41.30%
19NFLXNetflix INCStock-Comm Services0.66%-0.07%-59.27%
20ORCLOracle CORPStock-Tech0.58%+0.21%+95.15%
21COINCoinbase Global INC -class AStock-Financials0.58%-0.06%+80.33%
22BKNGBooking Holdings INCStock-Consumer Disc0.41%-0.01%-43.01%
23BABAAlibaba Group Holding-sp AdrStock-Consumer Disc0.39%-0.03%+29.70%
24SMHVaneck Semiconductor ETFETF-Other0.38%+0.38%NEW
25ASMLASML Holding N.V.Stock-Tech0.16%+0.16%NEW
26AMATApplied Materials INCStock-Tech0.14%+0.14%NEW
27MELIMercadolibre INCStock-Consumer Disc0.12%+0.01%+82.79%
28LRCXLam Research CORPStock-Tech0.08%+0.08%NEW
29QCOMQualcomm INCStock-Tech0.05%+0.05%+2289.44%
30GSGoldman Sachs Group INCStock-Financials0.02%-0.04%-71.04%
31CRMSalesforce INCStock-Tech0.01%-0.04%-57.17%
32BABoeing Co/theStock-Industrials0.01%-0.05%-98.42%
33SNOWSnowflake INCStock-Tech0.01%-0.03%+64.66%
34CCitigroup INCStock-Financials0.01%-0.02%-95.22%
35JPMJpmorgan Chase & CoStock-Financials0.01%-0.04%-99.21%
36CVNACarvana CoStock-Consumer Disc0.01%-0.02%+161.02%
37MSMorgan StanleyStock-Financials0.01%-0.01%-70.66%
38BACBank Of America CORPStock-Financials0.01%-0.01%-63.17%
39DISWalt Disney Co/theStock-Comm Services—-0.02%-13.47%
40ADBEAdobe INCStock-Tech—-0.01%-96.33%
41PYPLPaypal Holdings INCStock-Financials—-0.04%-99.87%
42SHOPShopify INC - Class AStock-Tech—-0.01%-95.68%
43XLESs Energy Select SectorETF-Other—-0.02%-99.37%
44SMCISuper Micro Computer INCStock-Tech—-0.01%-99.80%

Holding changes this quarter

Ctc LLC's most significant position changes for 2026-03-31: New buy: Vaneck Semiconductor ETF (SMH); New buy: ASML Holding N.V. (ASML); New buy: Applied Materials INC (AMAT); New buy: Lam Research CORP (LRCX); Sold out: Chipotle Mexican Grill INC (CMG).

Position changes disclosed by Ctc LLC for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#TickerIssuerWeight ChangeShares ChangeAction
1GLDSpdr Gold Shares+3.7%-6.71%Trim
2MUMicron Technology INC+1.3%+6.26%Add
3HYGIshr Ibx Usd Hiyld Cb Etf-ui+1.1%+123.38%Add
4TSMTaiwan Semiconductor-sp Adr+0.6%+238.07%Add
5ORCLOracle CORP+0.2%+95.15%Add
6AMZNAmazon.com INC+0.1%+72.79%Add
7AVGOBroadcom INC+0.1%-46.17%Trim
8QCOMQualcomm INC+0.1%+2289.44%Add
9MELIMercadolibre INC0%+82.79%Add
10BKNGBooking Holdings INC0%-43.01%Trim
11MSMorgan Stanley0%-70.66%Trim
12ADBEAdobe INC0%-96.33%Trim
13SHOPShopify INC - Class A0%-95.68%Trim
14SMCISuper Micro Computer INC0%-99.80%Trim
15BACBank Of America CORP0%-63.17%Trim
16CVNACarvana Co0%+161.02%Add
17CCitigroup INC0%-95.22%Trim
18XLESs Energy Select Sector0%-99.37%Trim
19DISWalt Disney Co/the0%-13.47%Trim
20SNOWSnowflake INC0%+64.66%Add
21BABAAlibaba Group Holding-sp Adr0%+29.70%Add
22GSGoldman Sachs Group INC0%-71.04%Trim
23PYPLPaypal Holdings INC0%-99.87%Trim
24JPMJpmorgan Chase & Co0%-99.21%Trim
25CRMSalesforce INC0%-57.17%Trim
26BABoeing Co/the-0.1%-98.42%Trim
27COINCoinbase Global INC -class A-0.1%+80.33%Add
28NFLXNetflix INC-0.1%-59.27%Trim
29METAMeta Platforms Inc-class A-0.2%+54.72%Add
30AMDAdvanced Micro Devices-0.2%+116.77%Add
31MSFTMicrosoft CORP-0.2%+48.84%Add
32PLTRPalantir Technologies Inc-a-0.2%-41.30%Trim
33SLVIshares Silver Trust-0.2%+49.58%Add
34AAPLApple INC-0.3%+24.33%Add
35GOOGAlphabet Inc-cl C-0.4%+91.28%Add
36MSTRStrategy INC-0.6%+52.21%Add
37NVDANvidia CORP-1.1%-63.46%Trim
38TSLATesla INC-1.2%+103.73%Add
39SPYSs Spdr S&p 500 ETF Trust-us-1.3%-5.32%Trim
40QQQInvesco Qqq Trust Series 1-1.5%+2.24%Add
41SMHVaneck Semiconductor ETF—NEWNew buy
42ASMLASML Holding N.V.—NEWNew buy
43AMATApplied Materials INC—NEWNew buy
44LRCXLam Research CORP—NEWNew buy
45CMGChipotle Mexican Grill INC—EXITSold out
46CRWDCrowdstrike Holdings INC - A—EXITSold out
47COSTCostco Wholesale CORP—EXITSold out
48FSLRFirst Solar INC—EXITSold out
49CVXChevron CORP—EXITSold out
50WFCWells Fargo & Co—EXITSold out

FAQ

What is Ctc LLC and what type of investor is it?
Ctc LLC is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $2.2B, spread across 112 disclosed positions.
What are Ctc LLC's largest equity positions?
Based on the latest 13F filing, Ctc LLC's top holdings by market value are: 1. Ss Spdr S&p 500 ETF Trust-us (SPY) — $658.9M (30.3%) 2. Invesco Qqq Trust Series 1 (QQQ) — $314.3M (14.5%) 3. Spdr Gold Shares (GLD) — $304.2M (14.0%) 4. Ishr Ibx Usd Hiyld Cb Etf-ui (HYG) — $138.4M (6.4%) 5. Tesla INC (TSLA) — $115.1M (5.3%)
What changes did Ctc LLC make in its most recent portfolio filing?
In the latest reported quarter, Ctc LLC made 50 notable position adjustments: 4 new positions were initiated, 20 existing holdings were added to, 20 positions were partially reduced, and 6 were completely exited. The largest of these moves: New buy: Vaneck Semiconductor ETF (SMH); New buy: ASML Holding N.V. (ASML); New buy: Applied Materials INC (AMAT); New buy: Lam Research CORP (LRCX); Sold out: Chipotle Mexican Grill INC (CMG)
What sectors does Ctc LLC focus on?
Ctc LLC is concentrated in the following sectors based on its current disclosed equity portfolio: • Information Technology: 52.0% • Consumer Discretionary: 25.6% • Communication Services: 20.3% • Financials: 2.0% • Industrials: 0.0%

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