Rokos Capital Management LLP

LONDON, X0 · CIK 1666335 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 2022 · limited liability partnership

Assets managed$219.4bn
Staff310 · 68 in investment roles
Main clients (by assets)Private funds 100%
Private funds2 (2 hedge) · $219.4bn gross assets
Websiterokoscapital.com
Form ADV · 2026-06-29SEC adviser record

Legal entityROKOS CAPITAL MANAGEMENT LLP (GB)

Kindhedge funds, private equity, structured credit, futures, FCA fund manager
Others nearbyLondon, New York, NY
FamilyRokos Capital Management LLP · 2 related pages

As an employer

Offices in1 country
Private fundshedge 2

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.

In the UK

FCA-authorised companies1
Manages investmentsyes
Runs fundsyes
Retail clientsno, professional only

Company	Town	Staff	Pay gap report	FCA register
ROKOS CAPITAL MANAGEMENT LLP Limited Liability PartnershipFCA: Authorised · manages investments, manages AIFs, advises, deals	Oxfordshire			Authorisedmanages investments, manages AIFs, advises, deals

Sources: Companies House (accounts filed electronically; the largest groups often file on paper, so their staff numbers can be missing), the UK gender pay gap service (employers with 250+ staff) and the FCA's Financial Services Register. Contains public sector information licensed under the Open Government Licence v3.0.

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

$8.0bn reported value +41.6% vs Q1 2026

134positions

68.8%in top 10

63 new 27 added 42 reduced 56 sold out vs Q1 2026

Options: 37 call positions ($3.9bn notional), 23 put positions ($14.9bn notional) – listed below, not included above.

This report includes the holdings of 1 other manager that shares the investment decisions:

Rokos Capital Management (US) LP – reports through this filing

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

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	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	5,719,724	$4.2bn52.86%	52.86%	New
2	ALPHABET INC CAP STK CL A GOOGL	GOOGL	557,702	$199.2m2.50%	2.50%	Reduced -2.7m	-2,714,391 -83.0%
3	NVIDIA CORPORATION COM NVDA	NVDA	949,132	$189.7m2.38%	2.38%	Reduced -907.9k	-907,927 -48.9%
4	SANDISK CORP COM SNDK	SNDK	72,771	$165.2m2.07%	2.07%	Added +15.7k	+15,708 27.5%
5	CITIGROUP INC COM NEW C	C	1,085,285	$151.9m1.91%	1.91%	Added +30.2k	+30,242 2.9%
6	APPLE INC COM AAPL	AAPL	468,632	$135.6m1.70%	1.70%	Reduced -1.0m	-1,044,112 -69.0%
7	META PLATFORMS INC CL A META	META	201,190	$113.3m1.42%	1.42%	Reduced -108.1k	-108,129 -35.0%
8	APPLIED MATLS INC COM AMAT	AMAT	146,184	$105.7m1.33%	1.33%	Added +11.1k	+11,091 8.2%
9	MICROSOFT CORP COM MSFT	MSFT	279,213	$104.1m1.31%	1.31%	Added +275.9k	+275,947 8449.1%
10	LAM RESEARCH CORP COM NEW LRCX	LRCX	237,269	$102.8m1.29%	1.29%	Reduced -22.7k	-22,652 -8.7%
11	NORFOLK SOUTHN CORP COM NSC	NSC	314,671	$99.0m1.24%	1.24%	Added +178.2k	+178,236 130.6%
12	BROADCOM INC COM AVGO	AVGO	260,115	$98.1m1.23%	1.23%	Added +23.4k	+23,415 9.9%
13	AMAZON COM INC COM AMZN	AMZN	397,840	$94.8m1.19%	1.19%	Added +347.2k	+347,241 686.3%
14	GOLAR LNG LTD SHS GLNG	GLNG	1,797,559	$89.6m1.13%	1.13%	Added +628.4k	+628,398 53.8%
15	PG&E CORP COM PCG	PCG	4,531,771	$76.2m0.96%	0.96%	Added +1.5m	+1,491,167 49.0%
16	ARISTA NETWORKS INC COM SHS ANET	ANET	434,152	$73.8m0.93%	0.93%	New
17	EQT CORP COM EQT	EQT	1,340,046	$71.2m0.89%	0.89%	Reduced -400.5k	-400,469 -23.0%
18	EXPAND ENERGY CORPORATION COM EXE	EXE	688,699	$62.8m0.79%	0.79%	Reduced -173.9k	-173,869 -20.2%
19	CIENA CORP COM NEW CIEN	CIEN	127,045	$62.3m0.78%	0.78%	Added +60.6k	+60,585 91.2%
20	MICRON TECHNOLOGY INC COM MU	MU	53,644	$61.8m0.78%	0.78%	Reduced -139.6k	-139,595 -72.2%
21	HONEYWELL AEROSPACE INC COM HONA	HONA	279,404	$61.6m0.77%	0.77%	New
22	LUMENTUM HLDGS INC COM LITE	LITE	71,577	$61.4m0.77%	0.77%	Reduced -44.0k	-44,016 -38.1%
23	DARLING INGREDIENTS INC COM DAR	DAR	1,053,323	$57.5m0.72%	0.72%	Added +645.3k	+645,321 158.2%
24	GXO LOGISTICS INCORPORATED COMMON STOCK GXO	GXO	1,110,869	$56.3m0.71%	0.71%	Added +699.9k	+699,896 170.3%
25	HONEYWELL INTL INC COM HON	HON	237,512	$53.2m0.67%	0.67%	New
26	TESLA INC COM TSLA	TSLA	111,476	$46.9m0.59%	0.59%	Added +40.4k	+40,354 56.7%
27	ALLY FINL INC COM ALLY	ALLY	973,466	$44.7m0.56%	0.56%	New
28	TERADYNE INC COM TER	TER	91,693	$44.4m0.56%	0.56%	Reduced -11.3k	-11,277 -10.9%
29	COHERENT CORP COM COHR	COHR	101,561	$40.1m0.50%	0.50%	Reduced -144.4k	-144,396 -58.7%
30	PURECYCLE TECHNOLOGIES INC COM PCT	PCT	4,927,873	$40.0m0.50%	0.50%	Added +3.5m	+3,479,089 240.1%
31	KKR & CO INC COM KKR	KKR	421,705	$38.7m0.49%	0.49%	New
32	WESTERN DIGITAL CORP COM WDC	WDC	59,993	$38.3m0.48%	0.48%	Reduced -138.5k	-138,467 -69.8%
33	SEAGATE TECHNOLOGY HLDNGS PL ORD SHS STX	STX	39,320	$37.9m0.48%	0.48%	Reduced -86.2k	-86,171 -68.7%
34	NU HLDGS LTD ORD SHS CL A NU	NU	2,810,589	$37.6m0.47%	0.47%	New
35	NATERA INC COM NTRA	NTRA	137,049	$37.2m0.47%	0.47%	Reduced -105.9k	-105,853 -43.6%
36	ATI INC COM ATI	ATI	180,935	$35.7m0.45%	0.45%	Added +100.6k	+100,592 125.2%
37	DELTA AIR LINES INC DEL COM NEW DAL	DAL	353,744	$33.1m0.42%	0.42%	Reduced -211.2k	-211,218 -37.4%
38	VALERO ENERGY CORP COM VLO	VLO	124,563	$32.4m0.41%	0.41%	Reduced -62.0k	-62,007 -33.2%
39	VISTRA CORP COM VST	VST	202,530	$32.1m0.40%	0.40%	Reduced -94.9k	-94,868 -31.9%
40	TTM TECHNOLOGIES INC COM TTMI	TTMI	166,379	$31.1m0.39%	0.39%	Added +32.6k	+32,610 24.4%
41	ULTA BEAUTY INC COM ULTA	ULTA	67,584	$30.5m0.38%	0.38%	New
42	TRANSALTA CORP COM TAC	TAC	2,061,847	$28.5m0.36%	0.36%	Reduced -231.2k	-231,222 -10.1%
43	ADVANCED MICRO DEVICES INC COM AMD	AMD	48,651	$28.2m0.35%	0.35%	New
44	SNOWFLAKE INC CL A SNOW	SNOW	107,699	$27.4m0.34%	0.34%	New
45	MP MATERIALS CORP COM CL A MP	MP	477,535	$26.8m0.34%	0.34%	Reduced -72.7k	-72,671 -13.2%
46	SHERWIN WILLIAMS CO COM SHW	SHW	73,507	$25.3m0.32%	0.32%	New
47	SPACE EXPLORATION TECHN CORP CLASS A COM STK SPCX	SPCX	140,014	$23.9m0.30%	0.30%	New
48	INTEL CORP COM INTC	INTC	169,689	$23.7m0.30%	0.30%	New
49	AMER SPORTS INC COM SHS AS	AS	616,279	$20.9m0.26%	0.26%	New
50	CORTEVA INC COM CTVA	CTVA	245,571	$20.8m0.26%	0.26%	Added +195.6k	+195,571 391.1%
51	SCHLUMBERGER LTD COM STK SLB	SLB	415,613	$19.3m0.24%	0.24%	Reduced -273.0k	-272,989 -39.6%
52	FABRINET SHS FN	FN	34,027	$19.1m0.24%	0.24%	Reduced -26.9k	-26,870 -44.1%
53	HALLIBURTON CO COM HAL	HAL	562,079	$19.1m0.24%	0.24%	Reduced -328.8k	-328,839 -36.9%
54	CAMECO CORP COM CCJ	CCJ	174,584	$17.8m0.22%	0.22%	New
55	SYLVAMO CORP COMMON STOCK SLVM	SLVM	448,997	$17.0m0.21%	0.21%	Added +193.3k	+193,326 75.6%
56	CENTURY ALUM CO COM CENX	CENX	355,002	$16.3m0.21%	0.21%	Reduced -81.7k	-81,686 -18.7%
57	DEUTSCHE BANK A G NAMEN AKT DB	DB	473,688	$16.0m0.20%	0.20%	Added +345.1k	+345,123 268.4%
58	KBR INC COM KBR	KBR	458,352	$15.8m0.20%	0.20%	Added +388.5k	+388,504 556.2%
59	WALMART INC COM WMT	WMT	132,792	$15.0m0.19%	0.19%	Reduced -27.8k	-27,789 -17.3%
60	FLOWSERVE CORP COM FLS	FLS	201,393	$14.9m0.19%	0.19%	Added +137.9k	+137,892 217.2%
61	CELANESE CORP DEL COM CE	CE	320,489	$14.7m0.19%	0.19%	New
62	MORGAN STANLEY COM NEW MS	MS	69,301	$14.5m0.18%	0.18%	Reduced -167.4k	-167,420 -70.7%
63	PARSONS CORP DEL COM PSN	PSN	263,318	$13.8m0.17%	0.17%	New
64	ITT INC COM ITT	ITT	68,257	$13.5m0.17%	0.17%	Reduced -3.3k	-3,255 -4.5%
65	TRANSOCEAN LTD REGISTERED SHS RIG	RIG	2,619,483	$12.8m0.16%	0.16%	Reduced -550.1k	-550,089 -17.4%
66	QNITY ELECTRONICS INC COMMON STOCK Q	Q	70,268	$11.5m0.14%	0.14%	New
67	MARVELL TECHNOLOGY INC COM MRVL	MRVL	36,786	$11.0m0.14%	0.14%	New
68	TALEN ENERGY CORP COM TLN	TLN	27,488	$10.6m0.13%	0.13%	Reduced -28.6k	-28,564 -51.0%
69	TELEPHONE & DATA SYS INC COM NEW TDS	TDS	267,640	$9.9m0.12%	0.12%	Reduced -232.4k	-232,360 -46.5%
70	SPDR SER TR S&P RETAIL ETF XRT	XRT	112,438	$9.9m0.12%	0.12%	New
71	ESAB CORPORATION COM ESAB	ESAB	99,570	$9.8m0.12%	0.12%	New
72	PERFORMANCE FOOD GROUP CO COM PFGC	PFGC	82,925	$9.3m0.12%	0.12%	New
73	FLUOR CORP NEW COM FLR	FLR	176,165	$9.2m0.12%	0.12%	Added +46.4k	+46,376 35.7%
74	AMCOR PLC COM NEW AMCR	AMCR	208,996	$9.1m0.11%	0.11%	New
75	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	18,341	$8.7m0.11%	0.11%	Reduced -60.6k	-60,611 -76.8%
76	MDA SPACE LTD COM MDA	MDA	206,644	$8.5m0.11%	0.11%	New
77	PACKAGING CORP AMER COM PKG	PKG	35,748	$8.5m0.11%	0.11%	Added +17.8k	+17,762 98.8%
78	ANALOG DEVICES INC COM ADI	ADI	21,371	$8.5m0.11%	0.11%	New
79	ELEMENT SOLUTIONS INC COM ESI	ESI	176,361	$8.4m0.11%	0.11%	Added +62.0k	+62,014 54.2%
80	FERGUSON ENTERPRISES INC COMMON STOCK NEW FERG	FERG	34,766	$8.2m0.10%	0.10%	New
81	SJW GROUP COM HTO	HTO	135,116	$8.2m0.10%	0.10%	Unchanged
82	ROCKWELL AUTOMATION INC COM ROK	ROK	16,269	$8.1m0.10%	0.10%	Added +5.3k	+5,299 48.3%
83	TIMKEN CO COM TKR	TKR	55,317	$8.0m0.10%	0.10%	New
84	OCCIDENTAL PETE CORP COM OXY	OXY	158,604	$7.7m0.10%	0.10%	New
85	HUT 8 CORP COM HUT	HUT	66,510	$7.7m0.10%	0.10%	New
86	USA RARE EARTH INC COM USAR	USAR	345,985	$7.5m0.09%	0.09%	New
87	PALANTIR TECHNOLOGIES INC CL A PLTR	PLTR	61,865	$7.2m0.09%	0.09%	Reduced -103.9k	-103,883 -62.7%
88	LOMA NEGRA C I A S A MTN 14 SPONSORED ADS LOMA	LOMA	610,457	$7.0m0.09%	0.09%	New
89	TELESAT CORP CL A & CL B SHS TSAT	TSAT	137,737	$7.0m0.09%	0.09%	New
90	BUNGE GLOBAL SA COM SHS BG	BG	61,009	$6.5m0.08%	0.08%	New
91	SMURFIT WESTROCK PLC SHS SW	SW	134,649	$6.2m0.08%	0.08%	Added +34.6k	+34,649 34.6%
92	QUANTA SVCS INC COM PWR	PWR	8,537	$6.1m0.08%	0.08%	New
93	UNITED THERAPEUTICS CORP DEL COM UTHR	UTHR	10,634	$5.8m0.07%	0.07%	New
94	ASML HOLDING N V N Y REGISTRY SHS ASML	ASML	2,655	$5.3m0.07%	0.07%	New
95	FTAI AVIATION LTD SHS FTAI	FTAI	19,269	$5.2m0.07%	0.07%	New
96	ECOLAB INC COM ECL	ECL	18,587	$5.2m0.07%	0.07%	New
97	ISHARES TR US TRSPRTION IYT	IYT	59,100	$5.1m0.06%	0.06%	New
98	MSC INDL DIRECT INC CL A MSM	MSM	42,980	$5.1m0.06%	0.06%	New
99	KEYSIGHT TECHNOLOGIES INC COM KEYS	KEYS	13,905	$4.9m0.06%	0.06%	Reduced -61.3k	-61,253 -81.5%
100	ALCOA CORP COM AA	AA	91,738	$4.8m0.06%	0.06%	Reduced -89.4k	-89,377 -49.4%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
SELECT SECTOR SPDR TR XLV	XLV	1,036,116	$151.9m1.0m shares
INVESCO EXCHANGE TRADED FD T RSP	RSP	701,812	$134.7m701.8k shares
CROWDSTRIKE HLDGS INC CRWD	CRWD	267,078	$104.3m267.1k shares
HONEYWELL INTL INC		207,476	$93.8m207.5k shares
SELECT SECTOR SPDR TR XLP	XLP	1,115,233	$91.4m1.1m shares
GE VERNOVA INC GEV	GEV	74,160	$64.7m74.2k shares
LOCKHEED MARTIN CORP LMT	LMT	103,311	$62.4m103.3k shares
SELECT SECTOR SPDR TR XLY	XLY	558,230	$60.8m558.2k shares
L3HARRIS TECHNOLOGIES INC LHX	LHX	172,704	$59.6m172.7k shares
SPDR SER TR XOP	XOP	303,988	$55.3m304.0k shares
GOLDMAN SACHS GROUP INC GS	GS	59,409	$50.2m59.4k shares
SPDR SER TR KRE	KRE	708,884	$46.2m708.9k shares
VISA INC V	V	151,738	$45.9m151.7k shares
JOHNSON CTLS INTL PLC JCI	JCI	350,030	$45.8m350.0k shares
MASTERCARD INCORPORATED MA	MA	88,635	$44.3m88.6k shares
SPOTIFY TECHNOLOGY S A SPOT	SPOT	90,446	$43.9m90.4k shares
RALLIANT CORP RAL	RAL	1,010,520	$42.0m1.0m shares
TOWER SEMICONDUCTOR LTD TSEM	TSEM	237,628	$41.7m237.6k shares
ALIBABA GROUP HLDG LTD BABA	BABA	316,064	$39.7m316.1k shares
JABIL INC JBL	JBL	117,637	$31.2m117.6k shares
PROCTER AND GAMBLE CO PG	PG	207,099	$29.9m207.1k shares
CHEVRON CORP NEW CVX	CVX	116,387	$24.1m116.4k shares
AXT INC AXTI	AXTI	330,788	$18.8m330.8k shares
PG&E CORP PCG 4.25 12.01.27	PCG 4.25 12.01.27	15,000	$15.6m15.0k shares
ALPHABET INC GOOG	GOOG	48,906	$14.0m48.9k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
INVESCO QQQ TR QQQ · Put	QQQ	Put	16,953,400	$12.5bn17.0m shares	Added
NVIDIA CORPORATION NVDA · Put	NVDA	Put	2,846,300	$568.9m2.8m shares	Reduced
ISHARES TR IWM · Call	IWM	Call	1,820,700	$547.1m1.8m shares	Added
META PLATFORMS INC META · Put	META	Put	837,000	$471.5m837.0k shares	Reduced
APPLE INC AAPL · Call	AAPL	Call	1,620,000	$468.7m1.6m shares	New
GE AEROSPACE GE · Put	GE	Put	1,200,000	$448.0m1.2m shares	New
INVESCO QQQ TR QQQ · Call	QQQ	Call	558,400	$411.0m558.4k shares	Reduced
ALPHABET INC GOOGL · Put	GOOGL	Put	1,020,000	$364.4m1.0m shares	New
GE AEROSPACE GE · Call	GE	Call	800,000	$298.7m800.0k shares	New
ALPHABET INC GOOG · Call	GOOG	Call	800,000	$282.7m800.0k shares	New
GOLDMAN SACHS GROUP INC GS · Call	GS	Call	246,000	$248.8m246.0k shares	New
ORACLE CORP ORCL · Call	ORCL	Call	1,656,800	$243.0m1.7m shares	Unchanged
ORACLE CORP ORCL · Put	ORCL	Put	1,656,800	$243.0m1.7m shares	Unchanged
ADVANCED MICRO DEVICES INC AMD · Call	AMD	Call	374,910	$217.6m374.9k shares	New
ALPHABET INC GOOGL · Call	GOOGL	Call	600,000	$214.3m600.0k shares	New
CAPITAL ONE FINL CORP COF · Call	COF	Call	960,000	$192.5m960.0k shares	New
CITIGROUP INC C · Call	C	Call	750,000	$105.0m750.0k shares	New
NVIDIA CORPORATION NVDA · Call	NVDA	Call	525,000	$104.9m525.0k shares	Added
TESLA INC TSLA · Put	TSLA	Put	237,100	$99.7m237.1k shares	Unchanged
TESLA INC TSLA · Call	TSLA	Call	212,900	$89.5m212.9k shares	Reduced
PALANTIR TECHNOLOGIES INC PLTR · Call	PLTR	Call	738,900	$86.2m738.9k shares	Added
CROWDSTRIKE HLDGS INC CRWD · Call	CRWD	Call	62,300	$47.5m62.3k shares	New
NIKE INC NKE · Put	NKE	Put	1,100,000	$45.2m1.1m shares	New
MOSAIC CO NEW MOS · Call	MOS	Call	2,050,000	$43.4m2.0m shares	New
FLUOR CORP NEW FLR · Call	FLR	Call	825,000	$43.2m825.0k shares	New