Laurion Capital Management LP

NEW YORK, NY · CIK 1390202 · 13F filing filed 2026-08-13

SEC-registered investment adviser since 2012 · limited partnership

Assets managed$6.8bn
Staff59 · 31 in investment roles
Main clients (by assets)Private funds 100%
Private funds3 (3 hedge) · $10.7bn gross assets
Form ADV · 2026-03-27SEC adviser record

Legal entityLaurion Capital Management LP (US)

$1.4bn reported value +29.5% vs Q1 2026

253positions

63.1%in top 10

158 new 35 added 48 reduced 94 sold out vs Q1 2026

Options: 85 call positions ($1.1bn notional), 82 put positions ($1.4bn 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	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	270,000	$201.6m14.62%	14.62%	New
2	NORFOLK SOUTHN CORP COM NSC	NSC	384,349	$120.9m8.77%	8.77%	Added +32.7k	+32,701 9.3%
3	ELECTRONIC ARTS INC COM EA	EA	563,574	$115.6m8.38%	8.38%	Reduced -3.3k	-3,271 -0.6%
4	WARNER BROS DISCOVERY INC COM SER A WBD	WBD	3,935,000	$104.9m7.60%	7.60%	Added +824.5k	+824,517 26.5%
5	BRIDGEBIO PHARMA INC COM BBIO	BBIO	1,352,234	$100.7m7.30%	7.30%	Added +89.6k	+89,583 7.1%
6	DIGITAL RLTY TR INC COM DLR	DLR	386,500	$69.4m5.03%	5.03%	New
7	MINERALYS THERAPEUTICS INC COM MLYS	MLYS	2,506,152	$67.6m4.90%	4.90%	Added +274.1k	+274,112 12.3%
8	NUVATION BIO INC COM CL A NUVB	NUVB	7,820,013	$44.4m3.22%	3.22%	Reduced -2.6k	-2,625 -0.0%
9	QUALCOMM INC COM QCOM	QCOM	127,570	$23.6m1.71%	1.71%	New
10	BRIDGEBIO PHARMA INC NOTE 2.250% 2/0 · principal BBIO 2.25 02.01.29 · principal	BBIO 2.25 02.01.29	19,100,000	$21.2m1.54%	1.54%	Unchanged
11	KRATOS DEFENSE & SEC SOLUTIO COM NEW KTOS	KTOS	356,890	$17.8m1.29%	1.29%	Added +131.9k	+131,890 58.6%
12	NIO INC NOTE 3.875%10/1 · principal NIO 3.875 10.15.29 · principal	NIO 3.875 10.15.29	17,500,000	$17.5m1.27%	1.27%	Unchanged
13	FORGENT POWER SOLUTIONS INC COM SHS CL A FPS	FPS	293,800	$16.4m1.19%	1.19%	Reduced -406.2k	-406,200 -58.0%
14	INNIO NV ORDINARY SHARES INIO	INIO	400,000	$15.8m1.15%	1.15%	New
15	NIO INC NOTE 4.625%10/1 · principal NIO 4.625 10.15.30 · principal	NIO 4.625 10.15.30	15,500,000	$15.5m1.12%	1.12%	Unchanged
16	BRIDGEBIO ONCOLOGY THERAPEUT COM NEW BBOT	BBOT	2,002,701	$15.3m1.11%	1.11%	Added +80.0k	+80,045 4.2%
17	PYXIS ONCOLOGY INC COMMON STOCK PYXS	PYXS	4,900,888	$14.8m1.07%	1.07%	Reduced -96.4k	-96,445 -1.9%
18	MEDLINE INC COM CL A MDLN	MDLN	348,643	$13.8m1.00%	1.00%	Added +148.6k	+148,567 74.3%
19	MICROSOFT CORP COM MSFT	MSFT	34,913	$13.0m0.94%	0.94%	Added +32.3k	+32,313 1242.8%
20	CARVANA CO CL A CVNA	CVNA	190,226	$12.5m0.91%	0.91%	New
21	CONSTELLATION ENERGY CORP COM CEG	CEG	47,865	$11.9m0.86%	0.86%	Added +42.9k	+42,900 864.0%
22	D R HORTON INC COM DHI	DHI	67,784	$11.0m0.80%	0.80%	Added +305	+305 0.5%
23	ABBVIE INC COM ABBV	ABBV	42,168	$10.6m0.77%	0.77%	Added +33.8k	+33,773 402.3%
24	CME GROUP INC COM CME	CME	46,596	$10.3m0.75%	0.75%	Added +163	+163 0.3%
25	ROBINHOOD MKTS INC COM CL A HOOD	HOOD	99,074	$9.9m0.72%	0.72%	Added +65.2k	+65,178 192.3%
26	IMMUNIC INC COM NEW IMUX	IMUX	610,326	$9.4m0.68%	0.68%	New
27	WESTERN DIGITAL CORP COM WDC	WDC	14,017	$9.0m0.65%	0.65%	Added +8.2k	+8,188 140.5%
28	PULTE GROUP INC COM PHM	PHM	49,295	$6.8m0.49%	0.49%	Added +212	+212 0.4%
29	FREEPORT-MCMORAN INC CL B FCX	FCX	97,807	$6.2m0.45%	0.45%	Added +57.6k	+57,642 143.5%
30	META PLATFORMS INC CL A META	META	10,629	$6.0m0.43%	0.43%	Reduced -4.7k	-4,691 -30.6%
31	AARDVARK THERAPEUTICS INC COM AARD	AARD	1,034,459	$6.0m0.43%	0.43%	Unchanged
32	BROADCOM INC COM AVGO	AVGO	14,922	$5.6m0.41%	0.41%	Reduced -5.0k	-4,997 -25.1%
33	COINBASE GLOBAL INC COM CL A COIN	COIN	37,448	$5.5m0.40%	0.40%	Added +37.4k	+37,378 53397.1%
34	LENNAR CORP CL A LEN	LEN	60,479	$5.5m0.40%	0.40%	Added +500	+500 0.8%
35	AUTOLUS THERAPEUTICS PLC SPON ADS AUTL	AUTL	3,316,626	$5.3m0.38%	0.38%	Unchanged
36	BLACKSTONE INC COM BX	BX	45,050	$5.3m0.38%	0.38%	Added +41.6k	+41,551 1187.5%
37	CHIPOTLE MEXICAN GRILL INC COM CMG	CMG	146,336	$5.0m0.36%	0.36%	Added +141.9k	+141,865 3173.0%
38	PEPGEN INC COM PEPG	PEPG	2,750,855	$5.0m0.36%	0.36%	Unchanged
39	MONOLITHIC PWR SYS INC COM MPWR	MPWR	3,579	$4.9m0.36%	0.36%	New
40	BOBS DISC FURNITURE INC COM SHS BOBS	BOBS	300,000	$4.7m0.34%	0.34%	Reduced -150.0k	-150,000 -33.3%
41	OCTAVE INTELLIGENCE PLC ORD SHS CL B OCTV	OCTV	270,246	$4.4m0.32%	0.32%	New
42	ON SEMICONDUCTOR CORP COM ON	ON	43,557	$4.1m0.30%	0.30%	New
43	VALERO ENERGY CORP COM VLO	VLO	15,786	$4.1m0.30%	0.30%	Added +9.2k	+9,167 138.5%
44	CVS HEALTH CORP COM CVS	CVS	39,223	$4.1m0.29%	0.29%	New
45	CARDIFF ONCOLOGY INC COM CRDF	CRDF	3,098,299	$4.0m0.29%	0.29%	Added +451.6k	+451,561 17.1%
46	TOLL BROTHERS INC COM TOL	TOL	24,318	$4.0m0.29%	0.29%	Unchanged
47	SANDISK CORP COM SNDK	SNDK	1,691	$3.8m0.28%	0.28%	Reduced -3.6k	-3,599 -68.0%
48	BARRICK MNG CORP COM SHS B	B	104,308	$3.8m0.28%	0.28%	Added +72.6k	+72,640 229.4%
49	ALTRIA GROUP INC COM MO	MO	52,376	$3.8m0.27%	0.27%	Added +40.4k	+40,369 336.2%
50	CHENIERE ENERGY INC COM NEW LNG	LNG	15,674	$3.7m0.27%	0.27%	Reduced -12.8k	-12,839 -45.0%
51	HUMANA INC COM HUM	HUM	9,323	$3.7m0.27%	0.27%	New
52	SHARONAI HOLDINGS INC COM CL A SHAZ	SHAZ	43,649	$3.7m0.27%	0.27%	New
53	S&P GLOBAL INC COM SPGI	SPGI	8,900	$3.6m0.26%	0.26%	New
54	KRANESHARES TRUST SSE STAR MRKT 50 KSTR	KSTR	110,000	$3.6m0.26%	0.26%	New
55	EXXON MOBIL CORP COM XOM	XOM	25,950	$3.5m0.26%	0.26%	New
56	SALESFORCE INC COM CRM	CRM	21,513	$3.4m0.24%	0.24%	Added +19.1k	+19,113 796.4%
57	NEWMONT CORP COM NEM	NEM	35,592	$3.3m0.24%	0.24%	Added +14.6k	+14,635 69.8%
58	DELL TECHNOLOGIES INC CL C DELL	DELL	7,453	$3.2m0.23%	0.23%	Added +6.6k	+6,638 814.5%
59	CONOCOPHILLIPS COM COP	COP	30,883	$3.2m0.23%	0.23%	New
60	LUMENTUM HLDGS INC COM LITE	LITE	3,587	$3.1m0.22%	0.22%	New
61	CHEVRON CORP NEW COM CVX	CVX	18,157	$3.0m0.22%	0.22%	New
62	LIFTOFF MOBILE INC COM LFTO	LFTO	125,000	$3.0m0.22%	0.22%	New
63	NEXTERA ENERGY INC COM NEE	NEE	32,437	$2.8m0.21%	0.21%	Added +21.1k	+21,093 185.9%
64	FERGUSON ENTERPRISES INC COMMON STOCK NEW FERG	FERG	11,995	$2.8m0.21%	0.21%	Reduced -14.0k	-14,000 -53.9%
65	INTUITIVE MACHINES INC CLASS A COM LUNR	LUNR	132,275	$2.8m0.21%	0.21%	Unchanged
66	BLOOM ENERGY CORP COM CL A BE	BE	8,985	$2.7m0.20%	0.20%	New
67	COCA COLA CO COM KO	KO	33,378	$2.7m0.20%	0.20%	New
68	DEERE & CO COM DE	DE	4,241	$2.7m0.20%	0.20%	New
69	CREDO TECHNOLOGY GROUP HOLDI ORDINARY SHARES CRDO	CRDO	9,544	$2.6m0.19%	0.19%	New
70	ORACLE CORP COM ORCL	ORCL	16,900	$2.5m0.18%	0.18%	Reduced -21.4k	-21,410 -55.9%
71	PALO ALTO NETWORKS INC COM PANW	PANW	7,132	$2.4m0.18%	0.18%	Added +2.7k	+2,732 62.1%
72	CEREBRAS SYSTEMS INC COM CL A CBRS	CBRS	10,900	$2.4m0.17%	0.17%	New
73	VERTEX PHARMACEUTICALS INC COM VRTX	VRTX	4,706	$2.3m0.17%	0.17%	New
74	HELIX ACQUISITION CORP III USD CL A ORD SHS HLXC	HLXC	200,000	$2.1m0.15%	0.15%	Unchanged
75	FIRST CTZNS BANCSHARES INC N CL A FCNCA	FCNCA	1,009	$2.1m0.15%	0.15%	Reduced -65	-65 -6.0%
76	DIAMONDBACK ENERGY INC COM FANG	FANG	11,100	$2.0m0.14%	0.14%	New
77	COSTCO WHSL CORP NEW COM COST	COST	2,052	$1.9m0.14%	0.14%	New
78	EBAY INC. COM EBAY	EBAY	15,921	$1.8m0.13%	0.13%	Reduced -17.0k	-16,979 -51.6%
79	NETAPP INC COM NTAP	NTAP	11,433	$1.8m0.13%	0.13%	New
80	DOORDASH INC CL A DASH	DASH	8,260	$1.5m0.11%	0.11%	Reduced -31.9k	-31,878 -79.4%
81	GE VERNOVA INC COM GEV	GEV	1,292	$1.5m0.11%	0.11%	Reduced -3.8k	-3,784 -74.5%
82	DELTA AIR LINES INC DEL COM NEW DAL	DAL	15,841	$1.5m0.11%	0.11%	Added +15.8k	+15,811 52703.3%
83	ZSCALER INC COM ZS	ZS	9,900	$1.4m0.10%	0.10%	New
84	THE CIGNA GROUP COM CI	CI	5,060	$1.4m0.10%	0.10%	New
85	CIENA CORP COM NEW CIEN	CIEN	2,763	$1.4m0.10%	0.10%	New
86	WILLIAMS COS INC COM WMB	WMB	18,166	$1.4m0.10%	0.10%	New
87	PHILIP MORRIS INTL INC COM PM	PM	7,316	$1.3m0.10%	0.10%	Added +2.5k	+2,467 50.9%
88	MICROCHIP TECHNOLOGY INC. COM MCHP	MCHP	13,763	$1.3m0.09%	0.09%	New
89	KIMBERLY-CLARK CORP COM KMB	KMB	11,355	$1.2m0.09%	0.09%	New
90	AMAZON COM INC COM AMZN	AMZN	5,000	$1.2m0.09%	0.09%	New
91	FTAI AVIATION LTD SHS FTAI	FTAI	4,392	$1.2m0.09%	0.09%	Added +392	+392 9.8%
92	BLOCK INC CL A XYZ	XYZ	15,306	$1.2m0.08%	0.08%	Reduced -17.6k	-17,606 -53.5%
93	UBER TECHNOLOGIES INC COM UBER	UBER	15,985	$1.2m0.08%	0.08%	Reduced -11.6k	-11,599 -42.0%
94	CSX CORP COM CSX	CSX	24,171	$1.1m0.08%	0.08%	New
95	ASTRAZENECA PLC ORD AZN	AZN	6,000	$1.1m0.08%	0.08%	Reduced -3.5k	-3,500 -36.8%
96	VERISK ANALYTICS INC COM VRSK	VRSK	6,207	$1.1m0.08%	0.08%	New
97	HOWMET AEROSPACE INC COM HWM	HWM	3,973	$1.1m0.08%	0.08%	New
98	VISTRA CORP COM VST	VST	6,600	$1.0m0.08%	0.08%	Reduced -491	-491 -6.9%
99	VERTIV HOLDINGS CO COM CL A VRT	VRT	3,122	$1.0m0.08%	0.08%	Added +722	+722 30.1%
100	MCDONALDS CORP COM MCD	MCD	3,820	$1.0m0.07%	0.07%	New

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
HOLOGIC INC HOLX	HOLX	604,506	$45.7m604.5k shares
STANDARDAERO INC SARO	SARO	600,000	$15.5m600.0k shares
APPLIED MATLS INC AMAT	AMAT	23,522	$8.0m23.5k shares
NVIDIA CORPORATION NVDA	NVDA	44,399	$7.7m44.4k shares
LAM RESEARCH CORP LRCX	LRCX	32,396	$6.9m32.4k shares
CROWDSTRIKE HLDGS INC CRWD	CRWD	16,341	$6.4m16.3k shares
ASML HOLDING N V ASML	ASML	4,550	$6.0m4.5k shares
VOR BIOPHARMA INC VOR	VOR	318,670	$5.7m318.7k shares
SERVICENOW INC NOW	NOW	54,276	$5.7m54.3k shares
ALPHABET INC GOOGL	GOOGL	18,810	$5.4m18.8k shares
SYNOPSYS INC SNPS	SNPS	13,098	$5.2m13.1k shares
DATADOG INC DDOG	DDOG	43,683	$5.2m43.7k shares
ADVANCED MICRO DEVICES INC AMD	AMD	23,744	$4.8m23.7k shares
TERADYNE INC TER	TER	16,173	$4.8m16.2k shares
STARBUCKS CORP SBUX	SBUX	53,035	$4.8m53.0k shares
ALPHABET INC GOOG	GOOG	16,444	$4.7m16.4k shares
TESLA INC TSLA	TSLA	12,293	$4.6m12.3k shares
IMMUNIC INC		3,882,162	$4.3m3.9m shares
CORNING INC GLW	GLW	30,951	$4.2m31.0k shares
APPLE INC AAPL	AAPL	15,672	$4.0m15.7k shares
LULULEMON ATHLETICA INC LULU	LULU	24,452	$3.7m24.5k shares
SHOPIFY INC SHOP	SHOP	30,619	$3.6m30.6k shares
LAUDER ESTEE COS INC EL	EL	48,681	$3.5m48.7k shares
AXON ENTERPRISE INC AXON	AXON	7,330	$3.1m7.3k shares
UNITED RENTALS INC URI	URI	4,126	$3.0m4.1k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
SPDR S&P 500 ETF TR SPY · Put	SPY	Put	270,000	$201.6m270.0k shares	New
ADVANCED MICRO DEVICES INC AMD · Call	AMD	Call	150,800	$87.6m150.8k shares	Added
ADVANCED MICRO DEVICES INC AMD · Put	AMD	Put	137,500	$79.9m137.5k shares	Added
ROBINHOOD MKTS INC HOOD · Put	HOOD	Put	600,000	$60.2m600.0k shares	Added
APPLIED MATLS INC AMAT · Call	AMAT	Call	81,700	$59.1m81.7k shares	Added
CORNING INC GLW · Put	GLW	Put	228,300	$58.3m228.3k shares	Added
APPLIED MATLS INC AMAT · Put	AMAT	Put	77,100	$55.7m77.1k shares	Added
DELL TECHNOLOGIES INC DELL · Put	DELL	Put	128,900	$55.6m128.9k shares	Added
DELL TECHNOLOGIES INC DELL · Call	DELL	Call	123,100	$53.1m123.1k shares	Added
SNOWFLAKE INC SNOW · Call	SNOW	Call	194,700	$49.6m194.7k shares	New
CARVANA CO CVNA · Put	CVNA	Put	715,000	$47.1m715.0k shares	New
DATADOG INC DDOG · Call	DDOG	Call	180,000	$46.9m180.0k shares	Added
INTEL CORP INTC · Call	INTC	Call	322,800	$45.1m322.8k shares	Added
DATADOG INC DDOG · Put	DDOG	Put	168,300	$43.8m168.3k shares	Added
CORNING INC GLW · Call	GLW	Call	168,300	$43.0m168.3k shares	Added
LAM RESEARCH CORP LRCX · Call	LRCX	Call	97,500	$42.2m97.5k shares	Added
INTEL CORP INTC · Put	INTC	Put	301,700	$42.1m301.7k shares	Added
CLOUDFLARE INC NET · Call	NET	Call	163,100	$40.0m163.1k shares	Added
COMFORT SYS USA INC FIX · Put	FIX	Put	18,500	$36.7m18.5k shares	Added
QUALCOMM INC QCOM · Put	QCOM	Put	197,700	$36.5m197.7k shares	New
CLOUDFLARE INC NET · Put	NET	Put	143,900	$35.3m143.9k shares	Added
APPLOVIN CORP APP · Put	APP	Put	66,700	$34.4m66.7k shares	New
COMFORT SYS USA INC FIX · Call	FIX	Call	16,200	$32.1m16.2k shares	Added
LAM RESEARCH CORP LRCX · Put	LRCX	Put	70,500	$30.5m70.5k shares	Reduced
APPLOVIN CORP APP · Call	APP	Call	58,900	$30.3m58.9k 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
PYXIS ONCOLOGY INC PYXS · 13G · filed 2026-02-09	PYXS	7.7%≈ $14.4m		13G	2026-02-09
IMMUNIC INC IMUX · 13G · filed 2026-08-04	IMUX	6.1%≈ $12.9m	new	13G	2026-08-04