CANTOR FITZGERALD, L. P.

NEW YORK, NY · CIK 1024896 · 13F filing filed 2025-05-15

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

$2.7bn reported value +2.1% vs Q4 2024

291positions

84.4%in top 10

123 new 64 added 28 reduced 74 sold out vs Q4 2024

Options: 17 call positions ($554.6m notional), 14 put positions ($1.6bn notional) – listed below, not included above.

This report includes the holdings of 3 other managers that share the investment decisions:

CANTOR FITZGERALD & CO. – reports through this filing
CF Secured, LLC – reports through this filing
Cantor Fitzgerald Europe – reports through this filing

Also in the report of:

Shares in two reports are counted once in each security's totals.

Holdings, Q1 2025

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	MICROSTRATEGY INC CL A NEW MSTR	MSTR	4,654,251	$1.3bn50.21%	50.21%	Added +1.1m	+1,074,120 30.0%
2	NVIDIA CORPORATION COM NVDA	NVDA	3,977,613	$431.1m16.13%	16.13%	Added +409.5k	+409,495 11.5%
3	ADVANCED MICRO DEVICES INC COM AMD	AMD	1,054,926	$108.4m4.06%	4.06%	Reduced -145.1k	-145,107 -12.1%
4	ISHARES BITCOIN TRUST ETF SHS BEN INT IBIT	IBIT	1,837,847	$86.0m3.22%	3.22%	Added +201.1k	+201,093 12.3%
5	GCM GROSVENOR INC COM CL A GCMG	GCMG	6,451,535	$85.4m3.19%	3.19%	Unchanged
6	RUMBLE INC COM CL A RUM	RUM	9,333,817	$56.7m2.12%	2.12%	Added +7.6k	+7,612 0.1%
7	SATELLOGIC INC CLASS A ORD SHS SATL	SATL	13,380,873	$41.4m1.55%	1.55%	Unchanged
8	SELECT SECTOR SPDR TR SBI HEALTHCARE XLV	XLV	260,005	$38.0m1.42%	1.42%	Added +100.0k	+100,005 62.5%
9	SELECT SECTOR SPDR TR ENERGY XLE	XLE	390,404	$36.5m1.37%	1.37%	Added +140.4k	+140,404 56.2%
10	SUPER MICRO COMPUTER INC COM NEW SMCI	SMCI	844,010	$28.9m1.08%	1.08%	Added +65.3k	+65,350 8.4%
11	MICROSOFT CORP COM MSFT	MSFT	73,323	$27.5m1.03%	1.03%	Added +33.0k	+32,988 81.8%
12	AMAZON COM INC COM AMZN	AMZN	108,824	$20.7m0.77%	0.77%	Added +69.1k	+69,090 173.9%
13	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	38,735	$18.2m0.68%	0.68%	Added +35.2k	+35,209 998.5%
14	APPLE INC COM AAPL	AAPL	79,558	$17.7m0.66%	0.66%	Added +53.5k	+53,535 205.7%
15	SELECT SECTOR SPDR TR TECHNOLOGY XLK	XLK	82,086	$16.9m0.63%	0.63%	Added +80.3k	+80,307 4514.2%
16	BROADCOM INC COM AVGO	AVGO	89,360	$15.0m0.56%	0.56%	Added +73.1k	+73,075 448.7%
17	BAIDU INC SPON ADR REP A BIDU	BIDU	146,472	$13.5m0.50%	0.50%	Reduced -253.5k	-253,503 -63.4%
18	PROSHARES TR ULTRAPRO QQQ TQQQ	TQQQ	192,740	$11.0m0.41%	0.41%	Added +87.1k	+87,078 82.4%
19	ROBLOX CORP CL A RBLX	RBLX	176,319	$10.3m0.38%	0.38%	New
20	ALPHABET INC CAP STK CL C GOOG	GOOG	63,566	$9.9m0.37%	0.37%	Added +4.6k	+4,566 7.7%
21	ELI LILLY & CO COM LLY	LLY	11,886	$9.8m0.37%	0.37%	Added +7.3k	+7,340 161.5%
22	COINBASE GLOBAL INC COM CL A COIN	COIN	53,941	$9.3m0.35%	0.35%	Added +50.0k	+49,953 1252.6%
23	XBP GLOBAL HOLDINGS INC COM COM		6,064,404	$8.2m0.31%	0.31%	Unchanged
24	CME GROUP INC COM CME	CME	30,036	$8.0m0.30%	0.30%	Unchanged
25	META PLATFORMS INC CL A META	META	11,052	$6.4m0.24%	0.24%	Reduced -269	-269 -2.4%
26	ALPHABET INC CAP STK CL A GOOGL	GOOGL	38,732	$6.0m0.22%	0.22%	Added +25.0k	+24,953 181.1%
27	RIOT PLATFORMS INC COM RIOT	RIOT	770,000	$5.8m0.22%	0.22%	New
28	VANGUARD BD INDEX FDS TOTAL BND MRKT BND	BND	77,366	$5.7m0.21%	0.21%	New
29	SOFI TECHNOLOGIES INC COM SOFI	SOFI	451,751	$5.3m0.20%	0.20%	New
30	DIGITALBRIDGE GROUP INC CL A NEW CL A NEW		585,602	$5.2m0.19%	0.19%	Reduced -10.0k	-10,000 -1.7%
31	FRONTIER COMMUNICATIONS PARE COM FYBR	FYBR	134,771	$4.8m0.18%	0.18%	Added +49.0k	+49,045 57.2%
32	NETFLIX INC COM NFLX	NFLX	5,147	$4.8m0.18%	0.18%	Reduced -3.0k	-3,012 -36.9%
33	UBER TECHNOLOGIES INC COM UBER	UBER	62,185	$4.5m0.17%	0.17%	Added +33.2k	+33,185 114.4%
34	TRIPADVISOR INC COM TRIP	TRIP	283,841	$4.0m0.15%	0.15%	New
35	ORACLE CORP COM ORCL	ORCL	28,313	$4.0m0.15%	0.15%	Added +24.3k	+24,311 607.5%
36	ROBINHOOD MKTS INC COM CL A HOOD	HOOD	89,403	$3.7m0.14%	0.14%	New
37	APPLOVIN CORP COM CL A APP	APP	13,092	$3.5m0.13%	0.13%	New
38	TECK RESOURCES LTD CL B TECK	TECK	94,702	$3.4m0.13%	0.13%	New
39	VALE S A SPONSORED ADS VALE	VALE	341,910	$3.4m0.13%	0.13%	Added +235.9k	+235,852 222.4%
40	SHELL PLC SPON ADS SHEL	SHEL	45,224	$3.3m0.12%	0.12%	New
41	COHEN CIRCLE ACQUISITION COR UNIT 99/99/9999 UNIT 99/99/9999		270,000	$3.2m0.12%	0.12%	Reduced -14.6k	-14,590 -5.1%
42	ARM HOLDINGS PLC SPONSORED ADS ARM	ARM	29,561	$3.2m0.12%	0.12%	New
43	GCM GROSVENOR INC *W EXP 11/17/202 GCMGW	GCMGW	1,800,000	$3.1m0.12%	0.12%	Unchanged
44	REKOR SYSTEMS INC COM REKR	REKR	3,423,359	$3.0m0.11%	0.11%	Unchanged
45	IMMUNOCORE HLDGS PLC ADS IMCR	IMCR	100,000	$3.0m0.11%	0.11%	New
46	INCYTE CORP COM INCY	INCY	48,177	$2.9m0.11%	0.11%	Added +10.0k	+10,000 26.2%
47	GLOBAL SHIP LEASE INC NEW COM CL A GSL	GSL	127,637	$2.9m0.11%	0.11%	New
48	NEBIUS GROUP N.V. SHS CLASS A NBIS	NBIS	137,720	$2.9m0.11%	0.11%	New
49	ASML HOLDING N V N Y REGISTRY SHS ASML	ASML	4,039	$2.7m0.10%	0.10%	Added +3.1k	+3,099 329.7%
50	MAREX GROUP PLC ORD 96665EUR	96665EUR	75,652	$2.7m0.10%	0.10%	Unchanged
51	MODERNA INC COM MRNA	MRNA	94,136	$2.7m0.10%	0.10%	Added +77.2k	+77,175 455.0%
52	NOVO-NORDISK A S ADR NVO	NVO	37,230	$2.6m0.10%	0.10%	Added +2.2k	+2,157 6.2%
53	FLUTTER ENTMT PLC SHS FLUT	FLUT	11,409	$2.5m0.09%	0.09%	New
54	SANOFI SPONSORED ADR SNY	SNY	45,000	$2.5m0.09%	0.09%	New
55	AZEK CO INC CL A AZEK	AZEK	50,074	$2.4m0.09%	0.09%	New
56	CLIMB BIO INC COM CLYM	CLYM	1,999,415	$2.4m0.09%	0.09%	Added +1.3m	+1,348,915 207.4%
57	TERAWULF INC COM WULF	WULF	815,880	$2.2m0.08%	0.08%	New
58	FIFTH ERA ACQUISITION CORP I UNIT 99/99/9999 FERAU	FERAU	220,000	$2.2m0.08%	0.08%	New
59	PAPAYA GRWT OPPORTUNITY CORP UNIT 12/31/2028 PPYAU	PPYAU	212,500	$2.2m0.08%	0.08%	Unchanged
60	NEXXEN INTL LTD SHS NEW NEXN	NEXN	263,639	$2.2m0.08%	0.08%	New
61	SILENCE THERAPEUTICS PLC ADS SLN	SLN	773,845	$2.2m0.08%	0.08%	Added +234.1k	+234,119 43.4%
62	TRUMP MEDIA & TECHNOLOGY GRO COM DJT	DJT	50,354	$2.2m0.08%	0.08%	New
63	ISHARES TR TIPS BD ETF TIP	TIP	18,605	$2.1m0.08%	0.08%	New
64	CABALETTA BIO INC COM CABA	CABA	1,484,585	$2.1m0.08%	0.08%	Added +1.4m	+1,384,585 1384.6%
65	HCM II ACQUISITION CORP *W EXP 99/99/999 IMSRW	IMSRW	2,945,896	$2.0m0.08%	0.08%	Added +135.9k	+135,897 4.8%
66	PURECYCLE TECHNOLOGIES INC COM PCT	PCT	292,414	$2.0m0.08%	0.08%	New
67	ABRDN PLATINUM ETF TRUST PHYSCL PLATM SHS PPLT	PPLT	21,811	$2.0m0.07%	0.07%	Unchanged
68	INTEL CORP COM INTC	INTC	86,779	$2.0m0.07%	0.07%	Added +28.4k	+28,404 48.7%
69	VANGUARD WHITEHALL FDS INTL DVD ETF VIGI	VIGI	22,180	$1.8m0.07%	0.07%	New
70	EXELA TECHNOLOGIES INC 6% CONV PFD SR B XELA 6 PERP B	XELA 6 PERP B	151,056	$1.8m0.07%	0.07%	Unchanged
71	TAPESTRY INC COM TPR	TPR	25,351	$1.8m0.07%	0.07%	Added +8.2k	+8,207 47.9%
72	INFLECTION PT ACQUISITN CRP W EXP 08/31/202 W EXP 08/31/202		1,650,000	$1.8m0.07%	0.07%	Unchanged
73	GE VERNOVA INC COM GEV	GEV	5,081	$1.6m0.06%	0.06%	New
74	PAYPAL HLDGS INC COM PYPL	PYPL	23,393	$1.5m0.06%	0.06%	New
75	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	9,031	$1.5m0.06%	0.06%	Added +7.9k	+7,942 729.3%
76	AVIDITY BIOSCIENCES INC COM RNA	RNA	50,000	$1.5m0.06%	0.06%	New
77	ACELYRIN INC COM COM		588,664	$1.5m0.05%	0.05%	New
78	DIREXION SHS ETF TR DAILY 20+ YEAR T TMF	TMF	32,795	$1.4m0.05%	0.05%	Added +21.2k	+21,169 182.1%
79	ISHARES TR ESG AWR US AGRGT EAGG	EAGG	30,000	$1.4m0.05%	0.05%	New
80	PLAYA HOTELS & RESORTS NV SHS PLYA	PLYA	100,375	$1.3m0.05%	0.05%	New
81	ISHARES ETHEREUM TR SHS ETHA	ETHA	96,550	$1.3m0.05%	0.05%	Added +35.2k	+35,245 57.5%
82	RUMBLE INC *W EXP 09/16/202 RUMBW	RUMBW	550,000	$1.3m0.05%	0.05%	Unchanged
83	PALANTIR TECHNOLOGIES INC CL A PLTR	PLTR	14,713	$1.2m0.05%	0.05%	Added +1.5k	+1,542 11.7%
84	BOEING CO COM BA	BA	7,095	$1.2m0.05%	0.05%	Reduced -182	-182 -2.5%
85	WALGREENS BOOTS ALLIANCE INC COM WBA	WBA	100,151	$1.1m0.04%	0.04%	New
86	ORIC PHARMACEUTICALS INC COM ORIC	ORIC	200,000	$1.1m0.04%	0.04%	Added +177.3k	+177,296 780.9%
87	ACLARIS THERAPEUTICS INC COM ACRS	ACRS	695,573	$1.1m0.04%	0.04%	Added +595.6k	+595,573 595.6%
88	UROGEN PHARMA LTD COM URGN	URGN	95,000	$1.1m0.04%	0.04%	Reduced -265.0k	-265,000 -73.6%
89	MOONLAKE IMMUNOTHERAPEUTICS CLASS A ORD MLTX	MLTX	25,000	$976.8k0.04%	0.04%	New
90	OCCIDENTAL PETE CORP COM OXY	OXY	19,050	$940.3k0.04%	0.04%	Reduced -10.2k	-10,214 -34.9%
91	AGIOS PHARMACEUTICALS INC COM AGIO	AGIO	32,000	$937.6k0.04%	0.04%	New
92	ISHARES INC MSCI GERMANY ETF EWG	EWG	24,676	$915.0k0.03%	0.03%	New
93	CORE SCIENTIFIC INC NEW COM CORZ	CORZ	126,000	$912.2k0.03%	0.03%	New
94	LENNAR CORP CL A LEN	LEN	7,500	$860.9k0.03%	0.03%	New
95	ROCKET COS INC COM CL A RKT	RKT	70,600	$852.1k0.03%	0.03%	New
96	IOVANCE BIOTHERAPEUTICS INC COM IOVA	IOVA	254,879	$848.7k0.03%	0.03%	New
97	GERON CORP COM GERN	GERN	526,436	$837.0k0.03%	0.03%	New
98	MEREO BIOPHARMA GROUP PLC SPON ADS MREO	MREO	355,000	$798.8k0.03%	0.03%	Added +130.0k	+130,000 57.8%
99	TEVA PHARMACEUTICAL INDS LTD SPONSORED ADS SPONSORED ADS		51,100	$785.4k0.03%	0.03%	New
100	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	2,667	$768.5k0.03%	0.03%	New

Sold out since Q4 2024

Security	Ticker	Shares held before	Value then
TESLA INC TSLA	TSLA	739,920	$298.8m739.9k shares
ALIBABA GROUP HLDG LTD BABA	BABA	59,119	$5.0m59.1k shares
GRINDR INC GRND	GRND	184,926	$3.3m184.9k shares
MARA HOLDINGS INC MARA	MARA	170,362	$2.9m170.4k shares
HASHICORP INC HCP	HCP	74,600	$2.6m74.6k shares
JD.COM INC JD	JD	72,745	$2.5m72.7k shares
CARNIVAL CORP		92,937	$2.3m92.9k shares
ZUORA INC ZUO	ZUO	200,000	$2.0m200.0k shares
NEVRO CORP NVRO	NVRO	531,204	$2.0m531.2k shares
ROCKET LAB USA INC		73,850	$1.9m73.8k shares
DOUBLELINE ETF TRUST DFVE	DFVE	63,000	$1.8m63.0k shares
LOCKHEED MARTIN CORP LMT	LMT	3,666	$1.8m3.7k shares
AMEDISYS INC AMED	AMED	17,000	$1.5m17.0k shares
WILLOW LANE ACQUISITION CORP WLAC	WLAC	148,400	$1.5m148.4k shares
BARNES GROUP INC B	B	28,000	$1.3m28.0k shares
XPO INC XPO	XPO	7,800	$1.0m7.8k shares
PROFIRE ENERGY INC PFIE	PFIE	300,000	$762.0k300.0k shares
CUBESMART CUBE	CUBE	17,700	$758.4k17.7k shares
ALAMOS GOLD INC NEW AGI	AGI	36,527	$673.6k36.5k shares
AURINIA PHARMACEUTICALS INC AUPH	AUPH	72,000	$646.6k72.0k shares
INTEGRAL AD SCIENCE HLDNG CO IAS	IAS	61,000	$636.8k61.0k shares
REDDIT INC RDDT	RDDT	3,602	$588.7k3.6k shares
THERMO FISHER SCIENTIFIC INC TMO	TMO	1,000	$520.2k1.0k shares
FERGUSON ENTERPRISES INC FERG	FERG	2,750	$477.3k2.8k shares
SPDR SERIES TRUST SPYM	SPYM	6,900	$475.7k6.9k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
MICROSTRATEGY INC MSTR · Put	MSTR	Put	2,750,000	$792.7m2.8m shares	Added
TESLA INC TSLA · Call	TSLA	Call	1,691,500	$438.4m1.7m shares	New
NVIDIA CORPORATION NVDA · Put	NVDA	Put	3,965,800	$429.8m4.0m shares	Reduced
ADVANCED MICRO DEVICES INC AMD · Put	AMD	Put	1,184,700	$121.7m1.2m shares	Added
TESLA INC TSLA · Put	TSLA	Put	449,900	$116.6m449.9k shares	Reduced
SPDR S&P 500 ETF TR SPY · Put	SPY	Put	157,800	$88.3m157.8k shares	Reduced
META PLATFORMS INC META · Call	META	Call	46,500	$26.8m46.5k shares	New
NVIDIA CORPORATION NVDA · Call	NVDA	Call	235,500	$25.5m235.5k shares	Reduced
SUPER MICRO COMPUTER INC SMCI · Put	SMCI	Put	700,000	$24.0m700.0k shares	Added
THE TRADE DESK INC TTD · Call	TTD	Call	275,000	$15.0m275.0k shares	New
MICROSTRATEGY INC MSTR · Call	MSTR	Call	51,500	$14.8m51.5k shares	Reduced
BROADCOM INC AVGO · Put	AVGO	Put	80,500	$13.5m80.5k shares	Added
GILEAD SCIENCES INC GILD · Call	GILD	Call	100,000	$11.2m100.0k shares	New
DATADOG INC DDOG · Call	DDOG	Call	65,000	$6.4m65.0k shares	New
OCCIDENTAL PETE CORP OXY · Call	OXY	Call	124,100	$6.1m124.1k shares	New
MARA HOLDINGS INC MARA · Put	MARA	Put	447,886	$5.2m447.9k shares	New
RIOT PLATFORMS INC RIOT · Call	RIOT	Call	500,000	$3.6m500.0k shares	Reduced
AGIOS PHARMACEUTICALS INC AGIO · Put	AGIO	Put	104,200	$3.1m104.2k shares	New
ROBINHOOD MKTS INC HOOD · Put	HOOD	Put	70,000	$2.9m70.0k shares	New
RIOT PLATFORMS INC RIOT · Put	RIOT	Put	299,900	$2.1m299.9k shares	New
SOLENO THERAPEUTICS INC SLNO · Put	SLNO	Put	22,600	$1.6m22.6k shares	Unchanged
ALIBABA GROUP HLDG LTD BABA · Call	BABA	Call	10,500	$1.4m10.5k shares	Reduced
AGNC INVT CORP AGNC · Put	AGNC	Put	124,700	$1.2m124.7k shares	New
PALANTIR TECHNOLOGIES INC PLTR · Call	PLTR	Call	14,000	$1.2m14.0k shares	New
SOLENO THERAPEUTICS INC SLNO · Call	SLNO	Call	15,000	$1.1m15.0k shares	New

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
BGC GROUP INC BGC · 13D · filed 2025-10-06	BGC	23.4%≈ $1.2bn	-0.1 pts	13D	2025-10-06
NEWMARK GROUP INC NMRK · 13D · filed 2025-10-06	NMRK	22.3%≈ $665.2m	-0.1 pts	13D	2025-10-06
XBP GLOBAL HOLDINGS INC 13D · filed 2026-09-22		7.2%	+0.4 pts	13D	2026-09-22

Trades reported as a company insider in Q1 2025

Owning 10% or more of a company, or having someone on its board, makes this manager an insider there: it reports its trades in that company's shares on Form 4 within two business days. Open-market and private purchases and sales only.

Date	Company	Ticker	Trade	Shares	Value	Their holding
2025-01-08	CANTOR EQUITY PARTNERS I INC 10% owner	CEPO	Bought	500,000	$5.0m500.0k shares	new