1y return+5.3%S&P 500 +20.9%
3y return+87.2%S&P 500 +68.5%
5y return+51.8%S&P 500 +74.5%
10y return+221.1%S&P 500 +256.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2016: $321 against $357 in the S&P 500.2
Marathon Trading Investment Management LLCS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| NVDANvidia Corporation | $196.9M | 22.4% | +1427.3% |
| TSLATesla Inc | $126.5M | 14.4% | +381.4% |
| GOOGLAlphabet Inc | $83.1M | 9.5% | +26596.6% |
| TSMTaiwan Semiconductor Manufac | $71.8M | 8.2% | +300574.0% |
| METAMeta Platforms Inc | $68.2M | 7.8% | +12542.4% |
| AMZNAmazon Com Inc | $53.1M | 6.1% | +5556.6% |
| BEBloom Energy Corp | $46.9M | 5.3% | +3.1% |
| SPYState Str Spdr S&p 500 Etf T | $43.0M | 4.9% | +81.4% |
| MSFTMicrosoft Corp | $41.8M | 4.8% | −45.6% |
| MUMicron Technology Inc | $20.1M | 2.3% | +2966.4% |
| AAPLApple Inc | $15.7M | 1.8% | +4739.0% |
| GDXVaneck Etf Trust | $15.3M | 1.7% | +98.2% |
| GLDSpdr Gold Tr | $7.0M | 0.8% | −74.6% |
| MSTRStrategy Inc | $4.7M | 0.5% | −51.8% |
| Nebius Group N.v.CUSIP N97284108 | $4.6M | 0.5% | New |
| USOUnited Sts Oil Fd LP | $4.6M | 0.5% | +244.1% |
| IBITIshares Bitcoin Trust Etf | $4.1M | 0.5% | −46.5% |
| APLDApplied Digital Corp | $3.6M | 0.4% | +2.1% |
| QQQInvesco Qqq Tr | $3.6M | 0.4% | +466.8% |
| VSNTVersant Media Group Inc | $3.3M | 0.4% | −52.6% |
| Bank Of Amer CorpCUSIP 060505682 | $3.1M | 0.4% | |
| IGVIshares Tr | $2.6M | 0.3% | +881.7% |
| NFLXNetflix Inc. | $2.4M | 0.3% | +798.1% |
| OKLOOklo Inc | $2.2M | 0.3% | New |
| JDJd.com Inc | $2.2M | 0.2% | −33.9% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| PLTRPalantir Technologies Inc | June 30, 2023 | +661.1% | $1.9M |
| NVDANvidia Corporation | March 31, 2022 | +633.3% | $196.9M |
| BEBloom Energy Corp | December 31, 2025 | +248.4% | $46.9M |
| TSMTaiwan Semiconductor Manufac | June 30, 2024 | +174.8% | $71.8M |
| GOOGLAlphabet Inc | June 30, 2024 | +96.2% | $83.1M |
| APLDApplied Digital Corp | December 31, 2025 | +52.1% | $3.6M |
| SPYState Str Spdr S&p 500 Etf T | June 30, 2024 | +37.2% | $43.0M |
| UNHUnitedhealth Group Inc | June 30, 2025 | +33.2% | $1.3M |
| AMZNAmazon Com Inc | March 31, 2024 | +32.1% | $53.1M |
| QQQInvesco Qqq Tr | September 30, 2025 | +22.7% | $3.6M |
Sold off last quarter
- ORCLOracle Corp was $6.9M
- MARAMara Holdings Inc was $6.0M
- BABoeing Co was $4.3M
- EUFNIshares Tr was $2.6M
- COINCoinbase Global Inc was $1.2M
- PYPLPaypal Hldgs Inc was $1.0M
- SCHWSchwab Charles Corp was $705K
- TEAMAtlassian Corporation was $662K
- CVNACarvana Co was $607K
- FSLRFirst Solar Inc was $592K
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +9.4% | +14.8% |
| March 31, 2026 | −8.8% | −4.6% |
| December 31, 2025 | −2.8% | +2.4% |
| September 30, 2025 | +8.5% | +7.8% |
| June 30, 2025 | +23.4% | +10.5% |
| March 31, 2025 | −0.3% | −4.6% |
| December 31, 2024 | +9.7% | +2.1% |
| September 30, 2024 | +3.8% | +5.4% |
| June 30, 2024 | −0.3% | +4.0% |
| March 31, 2024 | +17.8% | +10.0% |
| December 31, 2023 | +13.5% | +11.2% |
| September 30, 2023 | −4.7% | −3.6% |
| June 30, 2023 | +5.9% | +8.3% |
| March 31, 2023 | +13.9% | +7.0% |
| December 31, 2022 | −1.2% | +7.1% |
| September 30, 2022 | −2.7% | −5.3% |
| June 30, 2022 | −19.0% | −16.5% |
| March 31, 2022 | −3.6% | −4.9% |
| December 31, 2021 | −2.7% | +10.7% |
| September 30, 2021 | −8.1% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Marathon Trading Investment Management LLC Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1572748&type=13F-HR&dateb=&owner=include&count=40CIK 1572748
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1572748/000157274826000008/Filed August 12, 2026 · accession 0001572748-26-000008