CANTOR FITZGERALD, L. P.

NEW YORK, NY · CIK 1024896 · 13F filing filed 2026-02-17

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.

$3.4bn reported value -34.2% vs Q3 2025

153positions

53.5%in top 10

71 new 37 added 34 reduced 211 sold out vs Q3 2025

Options: 23 call positions ($426.5m notional), 34 put positions ($2.8bn 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, Q4 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	NVIDIA CORPORATION COM NVDA	NVDA	3,000,419	$559.6m16.66%	16.66%	Reduced -492.6k	-492,551 -14.1%
2	MICROSTRATEGY INC CL A NEW MSTR	MSTR	2,430,583	$369.3m11.00%	11.00%	Reduced -1.6m	-1,578,909 -39.4%
3	ORACLE CORP COM ORCL	ORCL	726,362	$141.6m4.22%	4.22%	Added +409.4k	+409,436 129.2%
4	IREN LIMITED ORDINARY SHARES IREN	IREN	3,469,904	$131.1m3.90%	3.90%	Added +3.3m	+3,333,423 2442.4%
5	BROADCOM INC COM AVGO	AVGO	365,046	$126.3m3.76%	3.76%	Added +128.0k	+127,993 54.0%
6	ADVANCED MICRO DEVICES INC COM AMD	AMD	465,672	$99.7m2.97%	2.97%	Reduced -1.4m	-1,376,844 -74.7%
7	FIDELITY WISE ORIGIN BITCOIN SHS FBTC	FBTC	1,280,931	$97.6m2.91%	2.91%	Unchanged
8	INTEL CORP COM INTC	INTC	2,555,851	$94.3m2.81%	2.81%	Added +729.7k	+729,654 40.0%
9	UNITEDHEALTH GROUP INC COM UNH	UNH	269,750	$89.0m2.65%	2.65%	Reduced -107.8k	-107,800 -28.6%
10	IONQ INC COM IONQ	IONQ	1,965,274	$88.2m2.63%	2.63%	Added +1.6m	+1,577,185 406.4%
11	TESLA INC COM TSLA	TSLA	187,381	$84.3m2.51%	2.51%	Reduced -215.7k	-215,734 -53.5%
12	M3BRIGADE ACQUISITION V CORP CL A VLOS	VLOS	7,779,865	$82.7m2.46%	2.46%	Added +7.6m	+7,625,527 4940.8%
13	ROBINHOOD MKTS INC COM CL A HOOD	HOOD	728,389	$82.4m2.45%	2.45%	Reduced -840.4k	-840,439 -53.6%
14	AMAZON COM INC COM AMZN	AMZN	326,025	$75.3m2.24%	2.24%	Added +157.1k	+157,062 93.0%
15	GCM GROSVENOR INC COM CL A GCMG	GCMG	6,451,535	$73.0m2.17%	2.17%	Unchanged
16	ROCKET LAB CORP COM RKLB	RKLB	1,007,367	$70.3m2.09%	2.09%	Reduced -909.0k	-909,020 -47.4%
17	RUMBLE INC COM CL A RUM	RUM	9,326,205	$58.9m1.76%	1.76%	Reduced -48.2k	-48,232 -0.5%
18	CIRCLE INTERNET GROUP INC COM CL A CRCL	CRCL	725,041	$57.5m1.71%	1.71%	Added +626.7k	+626,686 637.2%
19	OKLO INC COM CL A OKLO	OKLO	790,801	$56.7m1.69%	1.69%	Added +82.8k	+82,801 11.7%
20	NETFLIX INC COM NFLX	NFLX	557,943	$52.3m1.56%	1.56%	Added +369.7k	+369,713 196.4%
21	ALPHABET INC CAP STK CL C GOOG	GOOG	161,360	$50.6m1.51%	1.51%	Added +69.8k	+69,763 76.2%
22	TWENTY ONE CAP INC COM SHS CL A XXI	XXI	5,689,847	$49.8m1.48%	1.48%	New
23	HIMS & HERS HEALTH INC COM CL A HIMS	HIMS	1,451,446	$47.1m1.40%	1.40%	Added +592.8k	+592,842 69.0%
24	SUPER MICRO COMPUTER INC COM NEW SMCI	SMCI	1,546,302	$45.3m1.35%	1.35%	Reduced -1.9m	-1,883,122 -54.9%
25	SELECT SECTOR SPDR TR SBI HEALTHCARE XLV	XLV	260,000	$40.2m1.20%	1.20%	Unchanged
26	BITMINE IMMERSION TECNOLOGIE COM NEW BMNR	BMNR	1,403,691	$38.1m1.13%	1.13%	Added +716.5k	+716,507 104.3%
27	SELECT SECTOR SPDR TR ENERGY XLE	XLE	828,463	$37.0m1.10%	1.10%	Added +33.1k	+33,127 4.2%
28	ISHARES BITCOIN TRUST ETF SHS BEN INT IBIT	IBIT	624,078	$31.0m0.92%	0.92%	Reduced -880.7k	-880,668 -58.5%
29	NOVO-NORDISK A S ADR NVO	NVO	576,227	$29.3m0.87%	0.87%	Reduced -280.8k	-280,773 -32.8%
30	SATELLOGIC INC COM CL A SATL	SATL	13,380,873	$25.0m0.75%	0.75%	Unchanged
31	SELECT SECTOR SPDR TR TECHNOLOGY XLK	XLK	160,000	$23.0m0.69%	0.69%	Unchanged
32	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	35,000	$21.5m0.64%	0.64%	Unchanged
33	ADOBE INC COM ADBE	ADBE	54,350	$19.0m0.57%	0.57%	Added +20.3k	+20,275 59.5%
34	ROBLOX CORP CL A RBLX	RBLX	216,249	$17.5m0.52%	0.52%	Reduced -28.4k	-28,424 -11.6%
35	PAYPAL HLDGS INC COM PYPL	PYPL	275,050	$16.1m0.48%	0.48%	Added +196.3k	+196,350 249.5%
36	TRUMP MEDIA & TECHNOLOGY GRO COM DJT	DJT	1,149,806	$15.2m0.45%	0.45%	Reduced -752.0k	-752,013 -39.5%
37	ELI LILLY & CO COM LLY	LLY	12,849	$13.8m0.41%	0.41%	Reduced -53.0k	-53,017 -80.5%
38	SERVICENOW INC COM NOW	NOW	81,959	$12.6m0.37%	0.37%	Added +26.9k	+26,909 48.9%
39	PDD HOLDINGS INC SPONSORED ADS PDD	PDD	109,110	$12.4m0.37%	0.37%	Added +54.4k	+54,371 99.3%
40	BOEING CO COM BA	BA	55,208	$12.0m0.36%	0.36%	New
41	SALESFORCE INC COM CRM	CRM	41,565	$11.0m0.33%	0.33%	Added +17.0k	+17,000 69.2%
42	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	19,734	$9.9m0.30%	0.30%	New
43	QUANTUMSCAPE CORP COM CL A QS	QS	905,049	$9.4m0.28%	0.28%	New
44	ARM HOLDINGS PLC SPONSORED ADS ARM	ARM	85,432	$9.3m0.28%	0.28%	Added +8.5k	+8,474 11.0%
45	APPLE INC COM AAPL	AAPL	34,123	$9.3m0.28%	0.28%	Reduced -40.0k	-39,974 -54.0%
46	WEBULL CORP ORD SHS BULL	BULL	1,079,460	$8.4m0.25%	0.25%	Added +972.2k	+972,160 906.0%
47	CME GROUP INC COM CME	CME	30,036	$8.2m0.24%	0.24%	Unchanged
48	SOUNDHOUND AI INC CLASS A COM SOUN	SOUN	775,250	$7.7m0.23%	0.23%	Reduced -649.8k	-649,808 -45.6%
49	RIOT PLATFORMS INC COM RIOT	RIOT	598,343	$7.6m0.23%	0.23%	Reduced -1.5m	-1,508,349 -71.6%
50	VANECK ETF TRUST GOLD MINERS ETF GDX	GDX	86,382	$7.4m0.22%	0.22%	New
51	CARTESIAN GROWTH CORP III COM CL A FAC	FAC	709,439	$7.3m0.22%	0.22%	New
52	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	22,515	$6.8m0.20%	0.20%	Added +8.0k	+8,040 55.5%
53	MARVELL TECHNOLOGY INC COM MRVL	MRVL	74,900	$6.4m0.19%	0.19%	Unchanged
54	MICROSOFT CORP COM MSFT	MSFT	12,444	$6.0m0.18%	0.18%	Reduced -151	-151 -1.2%
55	ANDRETTI ACQUISITION CORP II ORD SHS CL A POLE	POLE	541,868	$5.7m0.17%	0.17%	New
56	PALO ALTO NETWORKS INC COM PANW	PANW	30,660	$5.6m0.17%	0.17%	New
57	RIGETTI COMPUTING INC COMMON STOCK RGTI	RGTI	249,941	$5.5m0.16%	0.16%	Reduced -1.9m	-1,854,353 -88.1%
58	XBP GLOBAL HOLDINGS INC COM NEW XBP	XBP	811,088	$5.5m0.16%	0.16%	New
59	TERRESTRIAL ENERGY INC *W EXP 10/28/203 IMSRW	IMSRW	2,575,000	$5.5m0.16%	0.16%	New
60	UNION PAC CORP COM UNP	UNP	23,484	$5.4m0.16%	0.16%	New
61	FERRARI N V COM RACE	RACE	13,926	$5.2m0.16%	0.16%	New
62	DRAFTKINGS INC NEW COM CL A DKNG	DKNG	148,691	$5.1m0.15%	0.15%	Added +113.8k	+113,841 326.7%
63	PALANTIR TECHNOLOGIES INC CL A PLTR	PLTR	28,198	$5.0m0.15%	0.15%	Added +12.8k	+12,788 83.0%
64	ALIGHT INC COM CL A ALIT	ALIT	2,498,990	$4.9m0.15%	0.15%	Added +2.4m	+2,418,990 3023.7%
65	SEALED AIR CORP NEW COM COM		117,000	$4.8m0.14%	0.14%	New
66	FRONTIER COMMUNICATIONS PARE COM FYBR	FYBR	123,003	$4.7m0.14%	0.14%	Reduced -25.8k	-25,775 -17.3%
67	COINBASE GLOBAL INC COM CL A COIN	COIN	20,564	$4.7m0.14%	0.14%	Reduced -39.7k	-39,747 -65.9%
68	MP MATERIALS CORP COM CL A MP	MP	90,967	$4.6m0.14%	0.14%	New
69	ANGLOGOLD ASHANTI PLC COM SHS AU	AU	53,647	$4.6m0.14%	0.14%	New
70	CONFLUENT INC CLASS A COM CFLT	CFLT	150,000	$4.5m0.14%	0.14%	New
71	COREWEAVE INC COM CL A CRWV	CRWV	63,306	$4.5m0.14%	0.14%	Reduced -398.9k	-398,918 -86.3%
72	ARISTA NETWORKS INC COM SHS ANET	ANET	34,573	$4.5m0.13%	0.13%	Added +13.3k	+13,323 62.7%
73	BERTO ACQUISITION CORP ORD SHS TACO	TACO	440,434	$4.5m0.13%	0.13%	New
74	ISHARES TR RUS 2000 VAL ETF IWN	IWN	22,179	$4.0m0.12%	0.12%	New
75	VANGUARD INDEX FDS SM CP VAL ETF VBR	VBR	18,936	$4.0m0.12%	0.12%	New
76	VINE HILL CAP INVT CORP. ORD SHS CL A ORD SHS CL A		360,392	$3.9m0.12%	0.12%	New
77	BIGBEAR AI HLDGS INC COM BBAI	BBAI	682,000	$3.7m0.11%	0.11%	Added +412.7k	+412,733 153.3%
78	LULULEMON ATHLETICA INC COM LULU	LULU	17,540	$3.6m0.11%	0.11%	New
79	ONDAS INC COM NEW ONDS	ONDS	365,750	$3.6m0.11%	0.11%	New
80	OSCAR HEALTH INC CL A OSCR	OSCR	246,818	$3.5m0.11%	0.11%	Added +121.7k	+121,674 97.2%
81	TERRESTRIAL ENERGY INC COM SHS IMSR	IMSR	550,000	$3.4m0.10%	0.10%	New
82	LEMONADE INC COM LMND	LMND	42,467	$3.0m0.09%	0.09%	Added +30.8k	+30,792 263.7%
83	ASTRIA THERAPEUTICS INC COM CATB	CATB	224,077	$2.9m0.09%	0.09%	New
84	CLOUDFLARE INC NOTE 8/1 NET 0 08.15.26	NET 0 08.15.26	2,500,000	$2.9m0.09%	0.09%	New
85	PURECYCLE TECHNOLOGIES INC COM PCT	PCT	335,695	$2.9m0.09%	0.09%	New
86	FIGMA INC CLASS A COM STK FIG	FIG	68,000	$2.5m0.08%	0.08%	New
87	MARA HOLDINGS INC COM MARA	MARA	280,300	$2.5m0.07%	0.07%	Reduced -204.7k	-204,728 -42.2%
88	ISHARES ETHEREUM TR SHS ETHA	ETHA	108,901	$2.4m0.07%	0.07%	Reduced -10.2k	-10,170 -8.5%
89	SUI GROUP HOLDINGS LIMITED COM NEW SUIG	SUIG	1,430,558	$2.4m0.07%	0.07%	Added +1.0m	+1,023,276 251.2%
90	CAVA GROUP INC COM CAVA	CAVA	39,214	$2.3m0.07%	0.07%	New
91	APARTMENT INVT & MGMT CO CL A AIV	AIV	355,000	$2.1m0.06%	0.06%	Reduced -380.0k	-380,000 -51.7%
92	AAON INC COM PAR $0.004 AAON	AAON	21,768	$1.7m0.05%	0.05%	New
93	SELECT SECTOR SPDR TR FINANCIAL XLF	XLF	28,411	$1.6m0.05%	0.05%	Added +13.9k	+13,931 96.2%
94	SOULPOWER ACQUISITION CORP USD CL A ORD SHS SOUL	SOUL	150,000	$1.5m0.05%	0.05%	New
95	BLAIZE HLDGS INC COM BZAI	BZAI	769,231	$1.5m0.04%	0.04%	New
96	EXACT SCIENCES CORP COM EXAS	EXAS	14,566	$1.5m0.04%	0.04%	New
97	BAIDU INC SPON ADR REP A BIDU	BIDU	11,152	$1.5m0.04%	0.04%	New
98	KRANESHARES TRUST CSI CHI INTERNET KWEB	KWEB	38,770	$1.3m0.04%	0.04%	New
99	ONKURE THERAPEUTICS INC COM CL A OKUR	OKUR	445,078	$1.3m0.04%	0.04%	Reduced -46.8k	-46,785 -9.5%
100	RIVIAN AUTOMOTIVE INC COM CL A RIVN	RIVN	62,713	$1.2m0.04%	0.04%	New

Sold out since Q3 2025

Security	Ticker	Shares held before	Value then
PROSHARES TR TQQQ	TQQQ	1,558,034	$80.6m1.6m shares
SOFI TECHNOLOGIES INC SOFI	SOFI	2,325,000	$61.4m2.3m shares
META PLATFORMS INC META	META	24,892	$18.3m24.9k shares
HCM II ACQUISITION CORP IMSRW	IMSRW	2,724,172	$16.3m2.7m shares
BLOOM ENERGY CORP BE	BE	185,314	$15.7m185.3k shares
PAPA JOHNS INTL INC PZZA	PZZA	256,992	$12.4m257.0k shares
GUESS INC		590,611	$9.9m590.6k shares
ALPHABET INC GOOGL	GOOGL	39,799	$9.7m39.8k shares
REDDIT INC RDDT	RDDT	41,013	$9.4m41.0k shares
JD.COM INC JD	JD	264,426	$9.2m264.4k shares
BARRICK MNG CORP B	B	263,315	$8.6m263.3k shares
DIGITALBRIDGE GROUP INC		691,230	$8.1m691.2k shares
RIO TINTO PLC RIO	RIO	110,162	$7.3m110.2k shares
UBER TECHNOLOGIES INC UBER	UBER	58,946	$5.8m58.9k shares
B2GOLD CORP BTG	BTG	1,143,710	$5.7m1.1m shares
HCM II ACQUISITION CORP IMSR	IMSR	341,328	$5.6m341.3k shares
XBP GLOBAL HOLDINGS INC		6,636,853	$5.4m6.6m shares
AVIDITY BIOSCIENCES INC RNA	RNA	114,236	$5.0m114.2k shares
MAREX GROUP PLC 96665EUR	96665EUR	140,000	$4.7m140.0k shares
NIKE INC NKE	NKE	66,174	$4.6m66.2k shares
GLOBAL SHIP LEASE INC NEW GSL	GSL	142,922	$4.4m142.9k shares
ALIBABA GROUP HLDG LTD BABA	BABA	24,140	$4.3m24.1k shares
EQV VENTURES AC CORP. II EVAC	EVAC	426,714	$4.2m426.7k shares
SILENCE THERAPEUTICS PLC SLN	SLN	801,306	$4.2m801.3k shares
T-MOBILE US INC TMUS	TMUS	17,347	$4.2m17.3k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
NVIDIA CORPORATION NVDA · Put	NVDA	Put	4,550,000	$848.6m4.5m shares	Added
ADVANCED MICRO DEVICES INC AMD · Put	AMD	Put	1,000,000	$214.2m1.0m shares	Reduced
IREN LIMITED IREN · Put	IREN	Put	5,025,000	$189.8m5.0m shares	New
ROBINHOOD MKTS INC HOOD · Put	HOOD	Put	1,325,000	$149.9m1.3m shares	Reduced
BITMINE IMMERSION TECNOLOGIE BMNR · Put	BMNR	Put	5,125,000	$139.1m5.1m shares	Added
MICROSTRATEGY INC MSTR · Put	MSTR	Put	825,000	$125.4m825.0k shares	Reduced
BROADCOM INC AVGO · Put	AVGO	Put	350,000	$121.1m350.0k shares	Added
TESLA INC TSLA · Put	TSLA	Put	250,000	$112.4m250.0k shares	Reduced
ROCKET LAB CORP RKLB · Put	RKLB	Put	1,530,000	$106.7m1.5m shares	Added
ORACLE CORP ORCL · Put	ORCL	Put	500,000	$97.5m500.0k shares	Added
UNITEDHEALTH GROUP INC UNH · Put	UNH	Put	274,200	$90.5m274.2k shares	Reduced
TESLA INC TSLA · Call	TSLA	Call	200,000	$89.9m200.0k shares	Reduced
IONQ INC IONQ · Put	IONQ	Put	1,875,000	$84.1m1.9m shares	Added
INTEL CORP INTC · Put	INTC	Put	2,000,000	$73.8m2.0m shares	Added
CIRCLE INTERNET GROUP INC CRCL · Put	CRCL	Put	785,700	$62.3m785.7k shares	Added
RIGETTI COMPUTING INC RGTI · Put	RGTI	Put	2,550,000	$56.5m2.5m shares	Added
RIGETTI COMPUTING INC RGTI · Call	RGTI	Call	2,275,000	$50.4m2.3m shares	New
ISHARES BITCOIN TRUST ETF IBIT · Call	IBIT	Call	1,000,000	$49.6m1.0m shares	Reduced
OKLO INC OKLO · Put	OKLO	Put	660,000	$47.4m660.0k shares	Added
PALANTIR TECHNOLOGIES INC PLTR · Call	PLTR	Call	230,000	$40.9m230.0k shares	Reduced
HIMS & HERS HEALTH INC HIMS · Put	HIMS	Put	1,225,000	$39.8m1.2m shares	Added
SUPER MICRO COMPUTER INC SMCI · Put	SMCI	Put	1,350,000	$39.5m1.4m shares	Reduced
SOFI TECHNOLOGIES INC SOFI · Put	SOFI	Put	1,300,000	$34.0m1.3m shares	New
COINBASE GLOBAL INC COIN · Call	COIN	Call	150,000	$33.9m150.0k shares	New
NOVO-NORDISK A S NVO · Put	NVO	Put	600,000	$30.5m600.0k shares	Reduced

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 Q4 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
2025-12-17	M3BRIGADE ACQUISITION V CORP 10% owner	VLOS	Bought	3,529,081	$38.1m3.5m shares	+83%
2025-12-09	SATELLOGIC INC 10% owner · See Footnote	SATL	Bought	10,000	$18.8k10.0k shares	+<1%
2025-12-09	SATELLOGIC INC 10% owner · See Footnote	SATL	Sold	10,000	$18.7k10.0k shares	-<1%
2025-11-05	CANTOR EQUITY PARTNERS V INC Chief Executive Officer	CEPV	Bought	540,000	$5.4m540.0k shares	new
2025-10-06	BGC GROUP INC Director	BGC	Bought	8,973,721	$82.6m9.0m shares	+10%