Gladius Capital Management LP

PARK CITY, UT · CIK 1540656 · 13F filing filed 2023-12-18

SEC-registered investment adviser since 2009 · limited partnership

Assets managed$2.9bn
Staff14 · 6 in investment roles
Main clients (by assets)Private funds 100%
Private funds4 (4 hedge) · $3.5bn gross assets
Websitegladiusgroup.com
Form ADV · 2026-03-24SEC adviser record

Legal entityGLADIUS CAPITAL MANAGEMENT LP (US)

Kindhedge funds, futures
Others nearbyPark City, UT, Chicago, IL

As an employer

Offices in1 country
Private fundshedge 4

Where they work

people there (dot area)number not reportedmain officeHover or tap a dot. Australian and UK companies are placed at their business or registered address, with their staff across the whole country.

Offices

From Form ADV: the main office and the other offices where it does advisory work (at most the 25 largest), with the people doing investment work at each. “About” is worked out: the firm's investment staff less its other offices. Each city links to the other managers there.

City	Country	People
Park City, UT (main office)United States	United States	about 3
Chicago, ILUnited States	United States	3

Map: places from GeoNames (CC BY 4.0), outlines from Natural Earth.

$199.6m reported value -38.6% vs Q1 2023

274positions

83.3%in top 10

99 new 74 added 99 reduced 109 sold out vs Q1 2023

Options: 41 call positions ($400.5m notional), 47 put positions ($1.4bn notional) – listed below, not included above.

Holdings, Q2 2023

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	249,347	$110.5m55.37%	55.37%	Reduced -132.3k	-132,300 -34.7%
2	ISHARES GOLD TR ISHARES NEW IAU	IAU	753,449	$27.4m13.73%	13.73%	Unchanged
3	ISHARES TR RUSSELL 2000 ETF IWM	IWM	52,000	$9.7m4.88%	4.88%	Added +34.0k	+34,000 188.9%
4	REGENERON PHARMACEUTICALS COM REGN	REGN	8,150	$5.9m2.93%	2.93%	Added +3.2k	+3,223 65.4%
5	COCA COLA CO COM KO	KO	53,539	$3.2m1.62%	1.62%	Added +49.3k	+49,258 1150.6%
6	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	8,714	$3.2m1.61%	1.61%	Reduced -44.5k	-44,458 -83.6%
7	ALPHABET INC CAP STK CL C GOOG	GOOG	25,152	$3.0m1.52%	1.52%	New
8	DISNEY WALT CO COM DIS	DIS	13,099	$1.2m0.59%	0.59%	Added +3.9k	+3,874 42.0%
9	YUM BRANDS INC COM YUM	YUM	7,906	$1.1m0.55%	0.55%	Reduced -1.3k	-1,309 -14.2%
10	CADENCE DESIGN SYSTEM INC COM CDNS	CDNS	4,526	$1.1m0.53%	0.53%	Reduced -2.5k	-2,526 -35.8%
11	THE CIGNA GROUP COM CI	CI	3,750	$1.1m0.53%	0.53%	Added +69	+69 1.9%
12	DROPBOX INC CL A DBX	DBX	38,792	$1.0m0.52%	0.52%	Added +12.7k	+12,748 49.0%
13	FAIR ISAAC CORP COM FICO	FICO	1,243	$1.0m0.50%	0.50%	Reduced -526	-526 -29.7%
14	VERISK ANALYTICS INC COM VRSK	VRSK	4,398	$994.1k0.50%	0.50%	New
15	PFIZER INC COM PFE	PFE	26,432	$969.5k0.49%	0.49%	Reduced -18.2k	-18,242 -40.8%
16	CVS HEALTH CORP COM CVS	CVS	13,944	$963.9k0.48%	0.48%	Reduced -1.1k	-1,121 -7.4%
17	VERISIGN INC COM VRSN	VRSN	4,199	$948.8k0.48%	0.48%	Reduced -1.3k	-1,306 -23.7%
18	ILLINOIS TOOL WKS INC COM ITW	ITW	3,652	$913.6k0.46%	0.46%	New
19	QUALYS INC COM QLYS	QLYS	6,754	$872.4k0.44%	0.44%	New
20	SQUARESPACE INC CLASS A SQSP	SQSP	25,511	$804.6k0.40%	0.40%	New
21	BOX INC CL A BOX	BOX	25,653	$753.7k0.38%	0.38%	Added +15.5k	+15,466 151.8%
22	INTERPUBLIC GROUP COS INC COM IPG	IPG	19,107	$737.1k0.37%	0.37%	Added +6.6k	+6,626 53.1%
23	PROCTER AND GAMBLE CO COM PG	PG	4,802	$728.7k0.37%	0.37%	New
24	ABBVIE INC COM ABBV	ABBV	5,389	$726.1k0.36%	0.36%	Added +3.6k	+3,632 206.7%
25	DOMINOS PIZZA INC COM DPZ	DPZ	1,946	$655.8k0.33%	0.33%	Added +67	+67 3.6%
26	UNITEDHEALTH GROUP INC COM UNH	UNH	1,320	$634.4k0.32%	0.32%	New
27	MANPOWERGROUP INC WIS COM MAN	MAN	7,822	$621.1k0.31%	0.31%	Reduced -1.6k	-1,591 -16.9%
28	COMMVAULT SYS INC COM CVLT	CVLT	8,016	$582.1k0.29%	0.29%	Added +4.9k	+4,879 155.5%
29	AON PLC SHS CL A AON	AON	1,674	$577.7k0.29%	0.29%	Added +551	+551 49.1%
30	CENCORA INC COM COR	COR	2,829	$544.4k0.27%	0.27%	Added +388	+388 15.9%
31	LOWES COS INC COM LOW	LOW	2,362	$532.9k0.27%	0.27%	New
32	CENTENE CORP DEL COM CNC	CNC	7,808	$526.6k0.26%	0.26%	Added +901	+901 13.0%
33	PEPSICO INC COM PEP	PEP	2,697	$499.5k0.25%	0.25%	Added +2.0k	+2,011 293.1%
34	GRAINGER W W INC COM GWW	GWW	598	$471.6k0.24%	0.24%	Reduced -519	-519 -46.5%
35	FASTENAL CO COM FAST	FAST	6,869	$405.2k0.20%	0.20%	Reduced -6.4k	-6,364 -48.1%
36	FERGUSON PLC NEW SHS FERG1GBX	FERG1GBX	2,396	$376.9k0.19%	0.19%	New
37	CARDINAL HEALTH INC COM CAH	CAH	3,616	$342.0k0.17%	0.17%	Added +415	+415 13.0%
38	RELIANCE INC COM RS	RS	1,253	$340.3k0.17%	0.17%	Added +383	+383 44.0%
39	MARSH & MCLENNAN COS INC COM MRSH	MRSH	1,723	$324.0k0.16%	0.16%	Reduced -919	-919 -34.8%
40	CF INDS HLDGS INC COM CF	CF	4,491	$311.8k0.16%	0.16%	Added +1.6k	+1,603 55.5%
41	THOR INDS INC COM THO	THO	2,824	$292.3k0.15%	0.15%	Added +51	+51 1.8%
42	MOSAIC CO NEW COM MOS	MOS	7,755	$271.4k0.14%	0.14%	Added +2.8k	+2,791 56.2%
43	DECKERS OUTDOOR CORP COM DECK	DECK	500	$263.8k0.13%	0.13%	New
44	CATERPILLAR INC COM CAT	CAT	1,038	$255.4k0.13%	0.13%	New
45	BLOCK H & R INC COM HRB	HRB	7,993	$254.7k0.13%	0.13%	Reduced -151	-151 -1.9%
46	INTERNATIONAL PAPER CO COM IP	IP	7,937	$252.5k0.13%	0.13%	Added +3.2k	+3,176 66.7%
47	COGENT COMMUNICATIONS HLDGS COM NEW CCOI	CCOI	3,553	$239.1k0.12%	0.12%	New
48	ALBERTSONS COS INC COMMON STOCK ACI	ACI	10,692	$233.3k0.12%	0.12%	Added +454	+454 4.4%
49	HERBALIFE LTD COM SHS HLF	HLF	16,973	$224.7k0.11%	0.11%	Added +1.8k	+1,778 11.7%
50	EAGLE BULK SHIPPING INC COM EGLE	EGLE	4,372	$210.0k0.11%	0.11%	New
51	A10 NETWORKS INC COM ATEN	ATEN	13,753	$200.7k0.10%	0.10%	Added +8.4k	+8,416 157.7%
52	TAPESTRY INC COM TPR	TPR	4,665	$199.7k0.10%	0.10%	Reduced -3.0k	-3,008 -39.2%
53	KFORCE INC COM KFRC	KFRC	3,154	$197.6k0.10%	0.10%	Reduced -686	-686 -17.9%
54	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	366	$191.0k0.10%	0.10%	Added +265	+265 262.4%
55	NEXTERA ENERGY INC COM NEE	NEE	2,526	$187.4k0.09%	0.09%	Reduced -2.6k	-2,645 -51.1%
56	HNI CORP COM HNI	HNI	6,397	$180.3k0.09%	0.09%	Reduced -963	-963 -13.1%
57	VISA INC COM CL A V	V	758	$180.0k0.09%	0.09%	Reduced -5.0k	-4,958 -86.7%
58	GENCO SHIPPING & TRADING LTD SHS GNK	GNK	12,744	$178.8k0.09%	0.09%	New
59	HP INC COM HPQ	HPQ	5,728	$175.9k0.09%	0.09%	New
60	RALPH LAUREN CORP CL A RL	RL	1,403	$172.9k0.09%	0.09%	Reduced -759	-759 -35.1%
61	GRAND CANYON ED INC COM LOPE	LOPE	1,612	$166.4k0.08%	0.08%	Added +13	+13 0.8%
62	ALTRIA GROUP INC COM MO	MO	3,485	$157.9k0.08%	0.08%	Reduced -863	-863 -19.9%
63	MASCO CORP COM MAS	MAS	2,673	$153.3k0.08%	0.08%	Reduced -2.3k	-2,340 -46.7%
64	HENRY SCHEIN INC COM HSIC	HSIC	1,822	$147.8k0.07%	0.07%	Added +204	+204 12.6%
65	WILLIS TOWERS WATSON PLC LTD SHS WTW	WTW	604	$142.2k0.07%	0.07%	Added +30	+30 5.2%
66	YELP INC CL A YELP	YELP	3,891	$141.7k0.07%	0.07%	Added +1.7k	+1,653 73.9%
67	ABERCROMBIE & FITCH CO CL A ANF	ANF	3,746	$141.2k0.07%	0.07%	Reduced -951	-951 -20.2%
68	GRAHAM HLDGS CO COM CL B GHC	GHC	240	$137.2k0.07%	0.07%	Reduced -8	-8 -3.2%
69	KAROOOOO LTD ORD SHS KARO	KARO	5,743	$134.4k0.07%	0.07%	New
70	SMITH A O CORP COM AOS	AOS	1,825	$132.8k0.07%	0.07%	Reduced -1.3k	-1,286 -41.3%
71	AGCO CORP COM AGCO	AGCO	931	$122.4k0.06%	0.06%	New
72	HEWLETT PACKARD ENTERPRISE C COM HPE	HPE	7,284	$122.3k0.06%	0.06%	Added +4.4k	+4,440 156.1%
73	MASTERCARD INCORPORATED CL A MA	MA	310	$121.9k0.06%	0.06%	Reduced -2.4k	-2,447 -88.8%
74	SECUREWORKS CORP CL A SCWX	SCWX	16,503	$119.3k0.06%	0.06%	Added +11.0k	+10,980 198.8%
75	HACKETT GROUP INC COM HCKT	HCKT	5,315	$118.8k0.06%	0.06%	New
76	HUNTSMAN CORP COM HUN	HUN	4,096	$110.7k0.06%	0.06%	Added +1.3k	+1,285 45.7%
77	EMCOR GROUP INC COM EME	EME	570	$105.3k0.05%	0.05%	Reduced -520	-520 -47.7%
78	ABBOTT LABS COM ABT	ABT	943	$102.8k0.05%	0.05%	Reduced -18.5k	-18,483 -95.2%
79	KELLY SVCS INC CL A KELYA	KELYA	5,699	$100.4k0.05%	0.05%	Reduced -1.1k	-1,132 -16.6%
80	WINNEBAGO INDS INC COM WGO	WGO	1,434	$95.6k0.05%	0.05%	Reduced -171	-171 -10.7%
81	XPERI INC COMMON STOCK XPER	XPER	7,233	$95.1k0.05%	0.05%	New
82	RADIANT LOGISTICS INC COM RLGT	RLGT	14,093	$94.7k0.05%	0.05%	Added +7.5k	+7,484 113.2%
83	BARRETT BUSINESS SVCS INC COM BBSI	BBSI	1,082	$94.4k0.05%	0.05%	New
84	SHUTTERSTOCK INC COM SSTK	SSTK	1,937	$94.3k0.05%	0.05%	New
85	FRANKLIN COVEY CO COM FC	FC	2,139	$93.4k0.05%	0.05%	New
86	NETAPP INC COM NTAP	NTAP	1,192	$91.1k0.05%	0.05%	Added +607	+607 103.8%
87	RUSH ENTERPRISES INC CL B RUSHB	RUSHB	1,257	$85.6k0.04%	0.04%	New
88	MDU RES GROUP INC COM MDU	MDU	4,073	$85.3k0.04%	0.04%	Reduced -674	-674 -14.2%
89	RESOURCES CONNECTION INC COM RGP	RGP	5,342	$83.9k0.04%	0.04%	New
90	CHEMED CORP NEW COM CHE	CHE	153	$82.9k0.04%	0.04%	Reduced -26	-26 -14.5%
91	UNIVAR SOLUTIONS INC COM UNVR	UNVR	2,300	$82.4k0.04%	0.04%	Reduced -1.4k	-1,441 -38.5%
92	RIMINI STR INC DEL COM RMNI	RMNI	15,723	$75.3k0.04%	0.04%	Added +7.8k	+7,798 98.4%
93	TELEPHONE & DATA SYS INC COM NEW TDS	TDS	8,882	$73.1k0.04%	0.04%	Reduced -9.1k	-9,135 -50.7%
94	MSC INDL DIRECT INC CL A MSM	MSM	751	$71.6k0.04%	0.04%	Reduced -542	-542 -41.9%
95	CARS COM INC COM CARS	CARS	3,456	$68.5k0.03%	0.03%	New
96	ERIE INDTY CO CL A ERIE	ERIE	315	$66.2k0.03%	0.03%	Added +35	+35 12.5%
97	WINMARK CORP COM WINA	WINA	195	$64.8k0.03%	0.03%	Reduced -125	-125 -39.1%
98	ON24 INC COM ONTF	ONTF	7,839	$63.7k0.03%	0.03%	New
99	ACUITY INC COM AYI	AYI	389	$63.4k0.03%	0.03%	Reduced -310	-310 -44.4%
100	BEACON ROOFING SUPPLY INC COM BECN	BECN	733	$60.8k0.03%	0.03%	Reduced -750	-750 -50.6%

Sold out since Q1 2023

Security	Ticker	Shares held before	Value then
ISHARES TR EFA	EFA	373,600	$26.7m373.6k shares
WALMART INC WMT	WMT	50,740	$7.5m50.7k shares
JPMORGAN CHASE & CO JPM	JPM	51,551	$6.7m51.6k shares
ISHARES TR EEM	EEM	167,800	$6.6m167.8k shares
BANK AMERICA CORP BAC	BAC	165,298	$4.7m165.3k shares
BERKSHIRE HATHAWAY INC DEL BRK.B	BRK.B	10,397	$3.2m10.4k shares
JOHNSON & JOHNSON JNJ	JNJ	18,169	$2.8m18.2k shares
WELLS FARGO CO NEW WFC	WFC	70,700	$2.6m70.7k shares
TARGET CORP TGT	TGT	15,759	$2.6m15.8k shares
EXXON MOBIL CORP XOM	XOM	22,060	$2.4m22.1k shares
MERCK & CO INC MRK	MRK	20,638	$2.2m20.6k shares
HOME DEPOT INC HD	HD	4,662	$1.4m4.7k shares
VMWARE INC VMW	VMW	10,604	$1.3m10.6k shares
TESLA INC TSLA	TSLA	6,050	$1.3m6.0k shares
GARTNER INC IT	IT	3,549	$1.2m3.5k shares
ROBERT HALF INC. RHI	RHI	13,985	$1.1m14.0k shares
CHEVRON CORP NEW CVX	CVX	6,298	$1.0m6.3k shares
FIDELITY NATL INFORMATION SV FIS	FIS	16,772	$911.2k16.8k shares
MCKESSON CORP MCK	MCK	1,743	$620.4k1.7k shares
STARBUCKS CORP SBUX	SBUX	5,125	$533.7k5.1k shares
SIRIUS XM HOLDINGS INC SIRI	SIRI	129,344	$513.5k129.3k shares
EXPEDITORS INTL WASH INC EXPD	EXPD	4,385	$482.9k4.4k shares
CISCO SYS INC CSCO	CSCO	9,166	$479.2k9.2k shares
PPG INDS INC PPG	PPG	3,361	$448.8k3.4k shares
DXC TECHNOLOGY CO DXC	DXC	16,346	$417.6k16.3k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
ISHARES TR Put		Put	5,400,000	$437.4m5.4m shares	New
ISHARES TR Put		Put	6,600,000	$261.1m6.6m shares	New
SPDR S&P 500 ETF TR SPY · Put	SPY	Put	300,000	$133.0m300.0k shares	New
UNITEDHEALTH GROUP INC UNH · Call	UNH	Call	246,800	$118.6m246.8k shares	Reduced
CATERPILLAR INC CAT · Put	CAT	Put	402,800	$99.1m402.8k shares	New
APPLE INC AAPL · Put	AAPL	Put	279,600	$54.2m279.6k shares	Reduced
MICROSOFT CORP Put		Put	144,300	$49.1m144.3k shares	New
SPDR SER TR Put		Put	600,000	$48.2m600.0k shares	New
NIKE INC NKE · Put	NKE	Put	400,000	$44.1m400.0k shares	New
TARGET CORP TGT · Call	TGT	Call	299,900	$39.6m299.9k shares	Added
INVESCO QQQ TR QQQ · Put	QQQ	Put	100,000	$36.9m100.0k shares	New
DELL TECHNOLOGIES INC DELL · Put	DELL	Put	600,000	$32.5m600.0k shares	New
APPLE INC AAPL · Call	AAPL	Call	157,600	$30.6m157.6k shares	Added
GENERAL MTRS CO GM · Call	GM	Call	750,000	$28.9m750.0k shares	Added
MICROSOFT CORP MSFT · Call	MSFT	Call	78,600	$26.8m78.6k shares	Added
PAYPAL HLDGS INC PYPL · Call	PYPL	Call	400,000	$26.7m400.0k shares	New
AMAZON COM INC AMZN · Put	AMZN	Put	173,400	$22.6m173.4k shares	Reduced
REGENERON PHARMACEUTICALS REGN · Put	REGN	Put	30,000	$21.6m30.0k shares	Reduced
NVIDIA CORPORATION NVDA · Put	NVDA	Put	47,200	$20.0m47.2k shares	Reduced
ALPHABET INC GOOG · Put	GOOG	Put	137,000	$16.6m137.0k shares	Reduced
AMAZON COM INC AMZN · Call	AMZN	Call	95,900	$12.5m95.9k shares	Added
META PLATFORMS INC META · Put	META	Put	42,400	$12.2m42.4k shares	Reduced
BERKSHIRE HATHAWAY INC DEL BRK.B · Put	BRK.B	Put	35,400	$12.1m35.4k shares	Reduced
NVIDIA CORPORATION NVDA · Call	NVDA	Call	26,400	$11.2m26.4k shares	Added
ALPHABET INC GOOG · Call	GOOG	Call	81,700	$9.9m81.7k shares	Reduced