Ionic Capital Management LLC

NEW YORK, NY · CIK 1386462 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 2011 · limited liability company

Assets managed$3.9bn
Staff34 · 15 in investment roles
Main clients (by assets)Private funds 100%
Private funds8 (8 hedge) · $4.0bn gross assets
Websiteioniccap.com
Form ADV · 2026-08-26SEC adviser record

Legal entityIONIC CAPITAL MANAGEMENT LLC (US)

Kindhedge funds, futures
Others nearbyNew York, NY

As an employer

Offices in1 country
Private fundshedge 8

$106.6m reported value -10.5% vs Q1 2026

103positions

36.5%in top 10

22 new 21 added 51 reduced 60 sold out vs Q1 2026

Options: 9 call positions ($11.5m notional), 8 put positions ($572.2m notional) – listed below, not included above.

Holdings, Q2 2026

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	FLEX LTD ORD FLEX	FLEX	40,253	$6.5m6.12%	6.12%	Reduced -10.0k	-10,000 -19.9%
2	UNITY SOFTWARE INC NOTE 3/1 · principal U 0 03.15.30 · principal	U 0 03.15.30	4,350,000	$4.9m4.62%	4.62%	Added +1.9m	+1,850,000 74.0%
3	ETSY INC NOTE 1.000% 6/1 · principal ETSY 1 06.15.30 · principal	ETSY 1 06.15.30	3,925,000	$4.6m4.28%	4.28%	New
4	AKAMAI TECHNOLOGIES INC COM AKAM	AKAM	34,686	$4.1m3.85%	3.85%	Added +7.8k	+7,800 29.0%
5	TRAVEL PLUS LEISURE CO COM TNL	TNL	46,089	$3.5m3.30%	3.30%	Reduced -5.5k	-5,500 -10.7%
6	CONSTELLIUM SE CL A SHS CSTM	CSTM	109,822	$3.5m3.28%	3.28%	Reduced -67.9k	-67,900 -38.2%
7	META PLATFORMS INC CL A META	META	5,489	$3.1m2.90%	2.90%	Added +2.6k	+2,650 93.3%
8	JAMES HARDIE INDS PLC ORD SHS JHX	JHX	116,127	$3.0m2.85%	2.85%	Added +10.0k	+10,000 9.4%
9	GXO LOGISTICS INCORPORATED COMMON STOCK GXO	GXO	56,082	$2.8m2.67%	2.67%	Unchanged
10	ORACLE CORP COM ORCL	ORCL	19,306	$2.8m2.65%	2.65%	Added +9.3k	+9,306 93.1%
11	YETI HLDGS INC COM YETI	YETI	55,000	$2.7m2.56%	2.56%	Added +2.5k	+2,500 4.8%
12	FIDELITY NATL INFORMATION SV COM FIS	FIS	62,000	$2.4m2.26%	2.26%	Added +39.0k	+39,000 169.6%
13	ASTERA LABS INC COM ALAB	ALAB	4,865	$2.3m2.20%	2.20%	Added +2.2k	+2,165 80.2%
14	FLOWSERVE CORP COM FLS	FLS	31,000	$2.3m2.16%	2.16%	Added +4.0k	+4,000 14.8%
15	MICRON TECHNOLOGY INC COM MU	MU	1,918	$2.2m2.08%	2.08%	Reduced -851	-851 -30.7%
16	GLOBUS MED INC CL A GMED	GMED	27,796	$2.2m2.06%	2.06%	Added +7.2k	+7,200 35.0%
17	PRIMO BRANDS CORPORATION CLASS A COM SHS PRMB	PRMB	89,606	$2.2m2.05%	2.05%	Reduced -36.0k	-36,000 -28.7%
18	SOLSTICE ADVANCED MATLS INC COM SHS SOLS	SOLS	24,500	$2.2m2.04%	2.04%	Unchanged
19	CAPITAL ONE FINL CORP COM COF	COF	9,800	$2.0m1.84%	1.84%	New
20	RESIDEO TECHNOLOGIES INC COM REZI	REZI	63,095	$2.0m1.84%	1.84%	Added +17.1k	+17,095 37.2%
21	EXZEO GROUP INC COM SHS XZO	XZO	116,077	$2.0m1.84%	1.84%	Added +37.0k	+37,022 46.8%
22	STRATEGY INC SERIES A PERP PF MSTR 8 PERP	MSTR 8 PERP	33,059	$1.9m1.82%	1.82%	Reduced -4.7k	-4,713 -12.5%
23	STANDARDAERO INC COM SARO	SARO	65,003	$1.9m1.82%	1.82%	Added +28.5k	+28,500 78.1%
24	POWERFLEET INC COM AIOT	AIOT	423,936	$1.6m1.52%	1.52%	Reduced -128.8k	-128,760 -23.3%
25	BROADCOM INC COM AVGO	AVGO	4,037	$1.5m1.43%	1.43%	Added +1.5k	+1,543 61.9%
26	ITT INC COM ITT	ITT	7,500	$1.5m1.39%	1.39%	New
27	NUVEEN S&P 500 DYNAMIC OVERW COM XSSPX	XSSPX	76,369	$1.4m1.34%	1.34%	Reduced -54.6k	-54,618 -41.7%
28	RH COM RH	RH	8,628	$1.4m1.33%	1.33%	Reduced -4.5k	-4,472 -34.1%
29	NUVEEN NASDAQ 100 DYNAMIC OV COM SHS QQQX	QQQX	43,447	$1.3m1.23%	1.23%	Reduced -22.7k	-22,666 -34.3%
30	CREDO TECHNOLOGY GROUP HOLDI ORDINARY SHARES CRDO	CRDO	4,325	$1.2m1.10%	1.10%	Added +1.0k	+1,025 31.1%
31	ADVANCED MICRO DEVICES INC COM AMD	AMD	1,898	$1.1m1.03%	1.03%	Reduced -1.9k	-1,932 -50.4%
32	APPLE INC COM AAPL	AAPL	3,668	$1.1m1.00%	1.00%	Unchanged
33	ISHARES INC MSCI STH KOR ETF EWY	EWY	5,002	$1.0m0.95%	0.95%	Added +1.6k	+1,647 49.1%
34	WESTERN AST INFL LKD OPP & I COM WIW	WIW	114,788	$964.2k0.90%	0.90%	Reduced -55.7k	-55,676 -32.7%
35	CLEANSPARK INC COM NEW CLSK	CLSK	65,800	$957.4k0.90%	0.90%	Added +13.4k	+13,400 25.6%
36	INTERNATIONAL GAME TECHNOLOG SHS USD BRSL	BRSL	87,916	$942.5k0.88%	0.88%	New
37	DESCARTES SYS GROUP INC COM DSGX	DSGX	13,000	$900.1k0.84%	0.84%	New
38	MOTOROLA SOLUTIONS INC COM NEW MSI	MSI	2,150	$892.9k0.84%	0.84%	New
39	BLOOM ENERGY CORP COM CL A BE	BE	2,735	$827.9k0.78%	0.78%	New
40	SUPER MICRO COMPUTER INC 7 DEP CM SR A WI SMCI 7 06.01.29	SMCI 7 06.01.29	15,758	$818.8k0.77%	0.77%	New
41	ORACLE CORP 6.5 DEP CUM SR D ORCL 6.5 01.15.29 D	ORCL 6.5 01.15.29 D	16,500	$741.7k0.70%	0.70%	Reduced -11.0k	-11,000 -40.0%
42	LUMENTUM HLDGS INC COM LITE	LITE	842	$722.5k0.68%	0.68%	Reduced -640	-640 -43.2%
43	VANECK ETF TRUST GOLD MINERS ETF GDX	GDX	9,542	$719.9k0.68%	0.68%	Reduced -11.1k	-11,100 -53.8%
44	LISTED FDS TR ROUNDHILL MAGNIF MAGS	MAGS	11,033	$709.4k0.67%	0.67%	Reduced -4.8k	-4,802 -30.3%
45	NVIDIA CORPORATION COM NVDA	NVDA	3,518	$703.9k0.66%	0.66%	Reduced -3.3k	-3,343 -48.7%
46	MANCHESTER UTD PLC NEW ORD CL A MANU	MANU	29,214	$669.9k0.63%	0.63%	Reduced -10.2k	-10,166 -25.8%
47	NORTHERN DYNASTY MINERALS LT COM NEW NAK	NAK	345,686	$663.7k0.62%	0.62%	Reduced -113.3k	-113,314 -24.7%
48	COREWEAVE INC COM CL A CRWV	CRWV	6,370	$634.1k0.59%	0.59%	Reduced -337	-337 -5.0%
49	WARNER BROS DISCOVERY INC COM SER A WBD	WBD	23,537	$627.5k0.59%	0.59%	Reduced -11.5k	-11,463 -32.8%
50	ROBINHOOD MKTS INC COM CL A HOOD	HOOD	6,114	$613.1k0.58%	0.58%	Unchanged
51	ALIBABA GROUP HLDG LTD SPONSORED ADS BABA	BABA	6,257	$600.5k0.56%	0.56%	Reduced -850	-850 -12.0%
52	APPLOVIN CORP COM CL A APP	APP	1,133	$583.8k0.55%	0.55%	Unchanged
53	ZIM INTEGRATED SHIPPING SERV SHS ZIM	ZIM	20,268	$527.0k0.49%	0.49%	Added +268	+268 1.3%
54	BRIGHTHOUSE FINL INC COM BHF	BHF	8,009	$507.0k0.48%	0.48%	Reduced -7.7k	-7,741 -49.1%
55	AMAZON COM INC COM AMZN	AMZN	1,957	$466.4k0.44%	0.44%	Unchanged
56	UNITEDHEALTH GROUP INC COM UNH	UNH	1,109	$460.9k0.43%	0.43%	Unchanged
57	PAYPAL HLDGS INC COM PYPL	PYPL	10,436	$450.6k0.42%	0.42%	Reduced -4.6k	-4,564 -30.4%
58	CELESTICA INC COM CLS	CLS	1,233	$449.8k0.42%	0.42%	Added +200	+200 19.4%
59	BLACKROCK CORPOR HI YLD FD I COM HYT	HYT	52,431	$448.8k0.42%	0.42%	Reduced -25.6k	-25,568 -32.8%
60	ATLANTA BRAVES HLDGS INC COM SER C BATRK	BATRK	8,475	$439.9k0.41%	0.41%	Reduced -2.2k	-2,214 -20.7%
61	NORFOLK SOUTHN CORP COM NSC	NSC	1,346	$423.4k0.40%	0.40%	New
62	GLOBALSTAR INC COM NEW GSAT	GSAT	5,203	$423.0k0.40%	0.40%	New
63	CANTOR EQUITY PARTNERS II IN CL A ORD SHS CL A ORD SHS		31,230	$419.1k0.39%	0.39%	Reduced -15.2k	-15,170 -32.7%
64	ISHARES TR ISHARES SEMICDTR SOXX	SOXX	642	$411.4k0.39%	0.39%	Reduced -3.4k	-3,406 -84.1%
65	CORE SCIENTIFIC INC NEW COM CORZ	CORZ	16,000	$409.4k0.38%	0.38%	Added +2.0k	+2,000 14.3%
66	VIRTUS DIVIDEND INTEREST & P COM NFJ	NFJ	26,888	$408.4k0.38%	0.38%	Reduced -13.1k	-13,112 -32.8%
67	PALANTIR TECHNOLOGIES INC CL A PLTR	PLTR	3,452	$402.7k0.38%	0.38%	Reduced -500	-500 -12.7%
68	ALCOA CORP COM AA	AA	7,600	$396.3k0.37%	0.37%	New
69	ISHARES SILVER TR ISHARES SLV	SLV	7,300	$390.3k0.37%	0.37%	Added +3.0k	+3,000 69.8%
70	AST SPACEMOBILE INC COM CL A ASTS	ASTS	4,183	$371.7k0.35%	0.35%	Reduced -1.6k	-1,575 -27.4%
71	ALPHABET INC CAP STK CL C GOOG	GOOG	1,024	$361.8k0.34%	0.34%	New
72	BIGBEAR AI HLDGS INC COM BBAI	BBAI	89,327	$327.8k0.31%	0.31%	Reduced -5.0k	-5,000 -5.3%
73	APPLIED DIGITAL CORP COM NEW APLD	APLD	8,755	$326.6k0.31%	0.31%	New
74	ATLANTA BRAVES HLDGS INC COM SER A BATRA	BATRA	5,190	$292.2k0.27%	0.27%	Reduced -1.0k	-1,001 -16.2%
75	VISHAY INTERTECHNOLOGY INC COM VSH	VSH	5,000	$268.9k0.25%	0.25%	New
76	SUPER MICRO COMPUTER INC COM NEW SMCI	SMCI	8,800	$258.1k0.24%	0.24%	Reduced -1.0k	-1,000 -10.2%
77	WESTERN ASSET HIGH YIELD DEF COM HYI	HYI	23,973	$254.8k0.24%	0.24%	Reduced -11.7k	-11,725 -32.8%
78	COINBASE GLOBAL INC COM CL A COIN	COIN	1,612	$235.7k0.22%	0.22%	Reduced -100	-100 -5.8%
79	SPERO THERAPEUTICS INC COM SPRO	SPRO	102,698	$227.0k0.21%	0.21%	Reduced -93.2k	-93,241 -47.6%
80	CIRCLE INTERNET GROUP INC COM CL A CRCL	CRCL	3,549	$222.3k0.21%	0.21%	Reduced -2.3k	-2,323 -39.6%
81	HADRON ENERGY INC COMMON STOCK HDRN	HDRN	105,896	$215.0k0.20%	0.20%	New
82	IRON HORSE ACQUISIT II CORP COM IRHO	IRHO	18,875	$189.3k0.18%	0.18%	New
83	ALPHA TAU MEDICAL LTD *W EXP 99/99/999 DRTSW	DRTSW	54,286	$160.1k0.15%	0.15%	Reduced -64.2k	-64,162 -54.2%
84	NUSCALE PWR CORP CL A COM SMR	SMR	15,000	$150.4k0.14%	0.14%	Reduced -2.4k	-2,400 -13.8%
85	GEN DIGITAL INC RIGHT 99/99/9999 GENVR	GENVR	99,164	$125.4k0.12%	0.12%	Reduced -67.7k	-67,746 -40.6%
86	GCT SEMICONDUCTOR HLDG INC *W EXP 03/01/202 GCTS.WS	GCTS.WS	186,223	$91.2k0.09%	0.09%	Reduced -486.8k	-486,777 -72.3%
87	MICROSTRATEGY INC CL A NEW MSTR	MSTR	1,016	$88.3k0.08%	0.08%	Unchanged
88	MONTANA TECHNOLOGIES CORP *W EXP 03/15/202 AIRJW	AIRJW	67,917	$88.3k0.08%	0.08%	New
89	SIZZLE ACQUISITION CORP. II RIGHT 04/02/2030 SZZLR	SZZLR	295,887	$48.1k0.05%	0.05%	New
90	SIZZLE ACQUISITION CORP. II USD CL A ORD SHS SZZL	SZZL	3,366	$34.9k0.03%	0.03%	New
91	LIVEWIRE GROUP INC *W EXP 09/26/202 LVWR.WS	LVWR.WS	1,086,981	$21.7k0.02%	0.02%	Reduced -447.6k	-447,609 -29.2%
92	IRON HORSE ACQUISIT II CORP RIGHT 07/11/2030 IRHOR	IRHOR	125,327	$20.2k0.02%	0.02%	New
93	ROCKET COS INC COM CL A RKT	RKT	1,266	$19.9k0.02%	0.02%	New
94	JOBY AVIATION INC *W EXP 08/10/202 JOBY.WS	JOBY.WS	53,059	$19.2k0.02%	0.02%	Reduced -755	-755 -1.4%
95	VISIONWAVE HOLDINGS INC *W EXP 07/14/203 VWAVW	VWAVW	26,995	$18.5k0.02%	0.02%	Reduced -59.2k	-59,186 -68.7%
96	AURORA INNOVATION INC *W EXP 11/03/202 AUROW	AUROW	44,298	$14.2k0.01%	0.01%	Reduced -486.3k	-486,257 -91.7%
97	NET POWER INC *W EXP 06/08/202 NPWR.WS	NPWR.WS	29,036	$8.4k0.01%	0.01%	Reduced -140.2k	-140,167 -82.8%
98	HADRON ENERGY INC *W EXP 05/22/203 HDRNW	HDRNW	41,482	$6.7k0.01%	0.01%	New
99	SOUTHLAND HLDGS INC *W EXP 02/14/202 SLND.WS	SLND.WS	220,489	$5.6k0.01%	0.01%	Unchanged
100	K WAVE MEDIA LTD *W EXP 05/14/203 NXATW	NXATW	253,240	$5.0k0.00%	0.00%	Reduced -146.8k	-146,760 -36.7%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
ISHARES TR IWM	IWM	20,000	$5.0m20.0k shares
INVESCO QQQ TR QQQ	QQQ	8,000	$4.6m8.0k shares
AKAMAI TECHNOLOGIES INC AKAM 1.125 02.15.29	AKAM 1.125 02.15.29	4,000,000	$4.6m4.0m shares
ON SEMICONDUCTOR CORP ON 0.5 03.01.29	ON 0.5 03.01.29	4,000,000	$3.9m4.0m shares
ARRAY TECHNOLOGIES INC ARRY 1 12.01.28	ARRY 1 12.01.28	3,500,000	$3.1m3.5m shares
ZOOMINFO TECHNOLOGIES INC GTM	GTM	341,655	$2.0m341.7k shares
INVESCO SR INCOME TR VVR	VVR	391,950	$1.3m391.9k shares
CORNING INC GLW	GLW	8,800	$1.2m8.8k shares
NUVEEN CR STRATEGIES INCOME XJQCX	XJQCX	208,434	$1.0m208.4k shares
UBER TECHNOLOGIES INC UBER	UBER	12,500	$899.1k12.5k shares
PLANET FITNESS INC PLNT	PLNT	12,000	$892.6k12.0k shares
UNIFIRST CORP MASS UNF	UNF	3,500	$880.6k3.5k shares
WAYFAIR INC W	W	11,500	$864.9k11.5k shares
JANUS HENDERSON GROUP PLC		15,000	$770.5k15.0k shares
LIBERTY ALL STAR EQUITY FD USA	USA	138,731	$770.0k138.7k shares
GIGCAPITAL7 CORP HDRN	HDRN	70,000	$745.5k70.0k shares
NUVEEN FLOATING RATE INCOME JFR	JFR	94,360	$709.6k94.4k shares
DIGITALBRIDGE GROUP INC		44,500	$686.2k44.5k shares
SANDISK CORP SNDK	SNDK	1,074	$682.4k1.1k shares
ILLUMINATION ACQUISITIO CORP ILLUU	ILLUU	65,000	$644.8k65.0k shares
NOKIA CORP NOK	NOK	75,000	$603.0k75.0k shares
NEWMONT CORP NEM	NEM	5,500	$595.4k5.5k shares
BLUE WTR ACQUISITION CORP IV BWIV.U	BWIV.U	50,000	$496.0k50.0k shares
OKLO INC OKLO	OKLO	9,264	$459.4k9.3k shares
REGENXBIO INC RGNX	RGNX	41,500	$347.8k41.5k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
ISHARES TR HYG · Put	HYG	Put	7,000,000	$559.8m7.0m shares	Reduced
ISHARES INC EWZ · Put	EWZ	Put	184,600	$6.4m184.6k shares	Added
ISHARES INC EWZ · Call	EWZ	Call	159,500	$5.5m159.5k shares	Added
NEWMONT CORP NEM · Call	NEM	Call	39,400	$3.7m39.4k shares	New
SPDR S&P 500 ETF TR SPY · Put	SPY	Put	2,500	$1.9m2.5k shares	New
MICROSTRATEGY INC MSTR · Put	MSTR	Put	15,200	$1.3m15.2k shares	Added
ARM HOLDINGS PLC ARM · Put	ARM	Put	3,200	$1.1m3.2k shares	Reduced
COREWEAVE INC CRWV · Put	CRWV	Put	10,000	$995.4k10.0k shares	New
MICROSTRATEGY INC MSTR · Call	MSTR	Call	10,000	$869.3k10.0k shares	New
ROCKET COS INC RKT · Call	RKT	Call	38,800	$611.1k38.8k shares	New
PERSHING SQUARE INC PS · Put	PS	Put	16,700	$548.8k16.7k shares	New
REVOLUTION MEDICINES INC RVMD · Call	RVMD	Call	2,600	$486.9k2.6k shares	New
SPACE EXPLORATION TECHN CORP SPCX · Put	SPCX	Put	1,000	$170.9k1.0k shares	New
SPACE EXPLORATION TECHN CORP SPCX · Call	SPCX	Call	1,000	$170.9k1.0k shares	New
ZOOMINFO TECHNOLOGIES INC GTM · Call	GTM	Call	40,000	$117.2k40.0k shares	Unchanged
CANTOR EQUITY PARTNERS II IN Call		Call	4,000	$53.7k4.0k shares	New
SUPER MICRO COMPUTER INC SMCI · Call	SMCI	Call	1,300	$38.1k1.3k shares	Reduced