Marex Group Ltd

London, X0 · CIK 1997464 · 13F filing filed 2025-08-19

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.

$5.3bn reported value +0.8% vs Q1 2025

517positions

49.2%in top 10

175 new 137 added 167 reduced 341 sold out vs Q1 2025

Options: 52 call positions ($1.1bn notional), 73 put positions ($5.2bn notional) – listed below, not included above.

This report includes the holdings of 4 other managers that share the investment decisions:

MAREX CAPITAL MARKETS INC. – reports through this filing
Marex Securities Products Inc. – reports through this filing
MAREX FINANCIAL – no 13F of its own this quarter
MAREX PRIME SERVICES LIMITED – no 13F of its own this quarter

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

Holdings, Q2 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	MICROSTRATEGY INC CL A NEW MSTR	MSTR	1,880,145	$759.9m14.45%	14.45%	Added +203.3k	+203,347 12.1%
2	MASTERCARD INCORPORATED CL A MA	MA	777,714	$437.0m8.31%	8.31%	Added +507.6k	+507,608 187.9%
3	BOOKING HOLDINGS INC COM BKNG	BKNG	64,811	$375.2m7.13%	7.13%	Added +33.0k	+32,999 103.7%
4	ELI LILLY & CO COM LLY	LLY	284,407	$221.7m4.22%	4.22%	Added +83.3k	+83,306 41.4%
5	TESLA INC COM TSLA	TSLA	545,241	$173.2m3.29%	3.29%	Reduced -103.0k	-102,994 -15.9%
6	INTUIT COM INTU	INTU	198,139	$156.1m2.97%	2.97%	Added +22.8k	+22,832 13.0%
7	ROBINHOOD MKTS INC COM CL A HOOD	HOOD	1,462,246	$133.7m2.54%	2.54%	Added +597.0k	+596,998 69.0%
8	NVIDIA CORPORATION COM NVDA	NVDA	824,371	$130.2m2.48%	2.48%	Reduced -1.2m	-1,243,874 -60.1%
9	CROWDSTRIKE HLDGS INC CL A CRWD	CRWD	200,000	$101.9m1.94%	1.94%	Reduced -122.8k	-122,802 -38.0%
10	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	207,826	$101.0m1.92%	1.92%	Added +94.2k	+94,245 83.0%
11	RIGETTI COMPUTING INC COMMON STOCK RGTI	RGTI	7,370,520	$87.4m1.66%	1.66%	Added +7.1m	+7,072,470 2372.9%
12	UNITEDHEALTH GROUP INC COM UNH	UNH	276,063	$86.1m1.64%	1.64%	Reduced -56.1k	-56,120 -16.9%
13	HOME DEPOT INC COM HD	HD	230,308	$84.4m1.61%	1.61%	Added +110.1k	+110,146 91.7%
14	MARA HOLDINGS INC COM MARA	MARA	5,376,354	$84.3m1.60%	1.60%	Added +4.9m	+4,891,739 1009.4%
15	D-WAVE QUANTUM INC COM QBTS	QBTS	5,469,291	$80.1m1.52%	1.52%	Added +5.4m	+5,379,911 6019.1%
16	HUMANA INC COM HUM	HUM	305,720	$74.7m1.42%	1.42%	New
17	ROCKET LAB CORP COM RKLB	RKLB	2,078,807	$74.4m1.41%	1.41%	New
18	GOLDMAN SACHS GROUP INC COM GS	GS	95,016	$67.2m1.28%	1.28%	Added +39.5k	+39,523 71.2%
19	AMGEN INC COM AMGN	AMGN	200,310	$55.9m1.06%	1.06%	Added +19.4k	+19,411 10.7%
20	SALESFORCE INC COM CRM	CRM	203,118	$55.4m1.05%	1.05%	Added +140.1k	+140,080 222.2%
21	REDDIT INC CL A RDDT	RDDT	364,220	$54.8m1.04%	1.04%	Added +349.1k	+349,106 2309.8%
22	BOEING CO COM BA	BA	258,521	$54.2m1.03%	1.03%	Reduced -266.3k	-266,296 -50.7%
23	HIMS & HERS HEALTH INC COM CL A HIMS	HIMS	1,081,476	$53.6m1.02%	1.02%	Added +756.7k	+756,723 233.0%
24	S&P GLOBAL INC COM SPGI	SPGI	100,058	$52.8m1.00%	1.00%	Added +49.4k	+49,411 97.6%
25	COSTCO WHSL CORP NEW COM COST	COST	50,296	$49.8m0.95%	0.95%	Added +49.6k	+49,626 7406.9%
26	STRYKER CORPORATION COM SYK	SYK	125,733	$49.7m0.95%	0.95%	Reduced -200.0k	-200,002 -61.4%
27	KLA CORP COM NEW KLAC	KLAC	50,407	$45.2m0.86%	0.86%	Reduced -68.3k	-68,305 -57.5%
28	MARVELL TECHNOLOGY INC COM MRVL	MRVL	537,900	$41.6m0.79%	0.79%	Added +488.0k	+487,988 977.7%
29	MCDONALDS CORP COM MCD	MCD	141,586	$41.4m0.79%	0.79%	Reduced -156.9k	-156,869 -52.6%
30	BLACKROCK INC COM BLK	BLK	38,824	$40.7m0.77%	0.77%	Reduced -17.9k	-17,889 -31.5%
31	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	100,436	$40.7m0.77%	0.77%	Reduced -21.4k	-21,418 -17.6%
32	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	73,375	$40.5m0.77%	0.77%	Added +43.8k	+43,805 148.1%
33	ADOBE INC COM ADBE	ADBE	102,086	$39.5m0.75%	0.75%	Added +101.3k	+101,300 12888.0%
34	MCKESSON CORP COM MCK	MCK	51,370	$37.6m0.72%	0.72%	Added +50.4k	+50,370 5037.0%
35	LOWES COS INC COM LOW	LOW	160,556	$35.6m0.68%	0.68%	Reduced -162.7k	-162,740 -50.3%
36	RIOT PLATFORMS INC COM RIOT	RIOT	3,146,336	$35.6m0.68%	0.68%	Added +894.4k	+894,373 39.7%
37	SERVICENOW INC COM NOW	NOW	30,339	$31.2m0.59%	0.59%	Reduced -23.1k	-23,145 -43.3%
38	THE CIGNA GROUP COM CI	CI	90,196	$29.8m0.57%	0.57%	New
39	ISHARES TR 20 YR TR BD ETF TLT	TLT	323,349	$28.5m0.54%	0.54%	Added +497	+497 0.1%
40	REGENERON PHARMACEUTICALS COM REGN	REGN	51,433	$27.0m0.51%	0.51%	Reduced -19.4k	-19,435 -27.4%
41	TEMPUS AI INC CL A TEM	TEM	418,947	$26.6m0.51%	0.51%	Added +409.5k	+409,486 4328.1%
42	DELL TECHNOLOGIES INC CL C DELL	DELL	204,400	$25.1m0.48%	0.48%	Reduced -152.3k	-152,320 -42.7%
43	ARCHER AVIATION INC COM CL A ACHR	ACHR	2,276,367	$24.7m0.47%	0.47%	Added +2.2m	+2,239,783 6122.3%
44	IONQ INC COM IONQ	IONQ	561,660	$24.1m0.46%	0.46%	Reduced -492.5k	-492,535 -46.7%
45	T-MOBILE US INC COM TMUS	TMUS	100,525	$24.0m0.46%	0.46%	New
46	ALPHABET INC CAP STK CL C GOOG	GOOG	131,409	$23.3m0.44%	0.44%	Reduced -123.8k	-123,837 -48.5%
47	GAMESTOP CORP NEW CL A GME	GME	939,386	$22.9m0.44%	0.44%	New
48	STARBUCKS CORP COM SBUX	SBUX	248,027	$22.7m0.43%	0.43%	Added +1.2k	+1,166 0.5%
49	INTUITIVE SURGICAL INC COM NEW ISRG	ISRG	40,463	$22.0m0.42%	0.42%	New
50	MICROSOFT CORP COM MSFT	MSFT	43,200	$21.5m0.41%	0.41%	Reduced -202.8k	-202,779 -82.4%
51	NETFLIX INC COM NFLX	NFLX	15,036	$20.1m0.38%	0.38%	Reduced -100.4k	-100,423 -87.0%
52	APPLIED MATLS INC COM AMAT	AMAT	109,853	$20.1m0.38%	0.38%	Reduced -15.7k	-15,693 -12.5%
53	APPLOVIN CORP COM CL A APP	APP	56,044	$19.6m0.37%	0.37%	Added +51.0k	+51,042 1020.4%
54	VERTIV HOLDINGS CO COM CL A VRT	VRT	147,131	$18.9m0.36%	0.36%	Added +128.0k	+128,014 669.6%
55	CASEYS GEN STORES INC COM CASY	CASY	35,145	$17.9m0.34%	0.34%	New
56	OKLO INC COM CL A OKLO	OKLO	308,040	$17.2m0.33%	0.33%	New
57	ALIBABA GROUP HLDG LTD SPONSORED ADS BABA	BABA	151,120	$17.1m0.33%	0.33%	Reduced -23.9k	-23,862 -13.6%
58	ISHARES ETHEREUM TR SHS ETHA	ETHA	887,275	$16.9m0.32%	0.32%	Added +321.9k	+321,865 56.9%
59	FEDEX CORP COM FDX	FDX	70,000	$15.9m0.30%	0.30%	Added +68.3k	+68,347 4134.7%
60	APPLE INC COM AAPL	AAPL	71,192	$14.6m0.28%	0.28%	Reduced -11.4k	-11,395 -13.8%
61	SUPER MICRO COMPUTER INC COM NEW SMCI	SMCI	288,074	$14.1m0.27%	0.27%	Reduced -729.8k	-729,830 -71.7%
62	ORACLE CORP COM ORCL	ORCL	64,163	$14.0m0.27%	0.27%	Reduced -78.3k	-78,318 -55.0%
63	TENCENT MUSIC ENTMT GROUP SPON ADS TME	TME	700,702	$13.7m0.26%	0.26%	Reduced -28.8k	-28,790 -4.0%
64	NOVO-NORDISK A S ADR NVO	NVO	181,066	$12.5m0.24%	0.24%	Added +108.9k	+108,883 150.8%
65	PDD HOLDINGS INC SPONSORED ADS PDD	PDD	118,650	$12.4m0.24%	0.24%	Added +74.8k	+74,783 170.5%
66	ISHARES TR CHINA LG-CAP ETF FXI	FXI	332,137	$12.2m0.23%	0.23%	Reduced -378.0k	-378,045 -53.2%
67	LOCKHEED MARTIN CORP COM LMT	LMT	26,204	$12.1m0.23%	0.23%	Added +25.2k	+25,183 2466.5%
68	UPSTART HLDGS INC COM UPST	UPST	182,740	$11.8m0.22%	0.22%	Added +175.9k	+175,885 2565.8%
69	ADVANCED MICRO DEVICES INC COM AMD	AMD	79,591	$11.3m0.21%	0.21%	Reduced -132.6k	-132,569 -62.5%
70	BROADCOM INC COM AVGO	AVGO	40,804	$11.2m0.21%	0.21%	Reduced -566.6k	-566,620 -93.3%
71	SOFI TECHNOLOGIES INC COM SOFI	SOFI	613,903	$11.2m0.21%	0.21%	Added +182.0k	+181,951 42.1%
72	AST SPACEMOBILE INC COM CL A ASTS	ASTS	231,767	$10.8m0.21%	0.21%	Added +11.7k	+11,667 5.3%
73	FIDELITY WISE ORIGIN BITCOIN SHS FBTC	FBTC	114,882	$10.8m0.21%	0.21%	Reduced -36.2k	-36,190 -24.0%
74	SANA BIOTECHNOLOGY INC COM SANA	SANA	3,817,780	$10.4m0.20%	0.20%	Added +3.8m	+3,757,780 6263.0%
75	TG THERAPEUTICS INC COM TGTX	TGTX	278,316	$10.0m0.19%	0.19%	Added +3.3k	+3,316 1.2%
76	MERCADOLIBRE INC COM MELI	MELI	3,793	$9.9m0.19%	0.19%	Added +2.3k	+2,266 148.4%
77	AMAZON COM INC COM AMZN	AMZN	44,146	$9.7m0.18%	0.18%	Added +13.1k	+13,121 42.3%
78	INTEL CORP COM INTC	INTC	407,753	$9.1m0.17%	0.17%	Reduced -27.7k	-27,727 -6.4%
79	EQUINIX INC COM EQIX	EQIX	10,624	$8.5m0.16%	0.16%	Reduced -39.4k	-39,376 -78.8%
80	SPDR SER TR S&P OILGAS EXP XOP	XOP	66,889	$8.4m0.16%	0.16%	Added +65.3k	+65,278 4052.0%
81	VAIL RESORTS INC COM MTN	MTN	50,000	$7.9m0.15%	0.15%	New
82	LUCID GROUP INC COM CCIV	CCIV	3,608,134	$7.6m0.14%	0.14%	New
83	ISHARES BITCOIN TRUST ETF SHS BEN INT IBIT	IBIT	120,863	$7.4m0.14%	0.14%	Reduced -6.4m	-6,413,723 -98.2%
84	BAIDU INC SPON ADR REP A BIDU	BIDU	83,956	$7.2m0.14%	0.14%	Added +71.9k	+71,919 597.5%
85	NEWMONT CORP COM NEM	NEM	122,280	$7.1m0.14%	0.14%	Reduced -15.1k	-15,070 -11.0%
86	ISHARES SILVER TR ISHARES SLV	SLV	214,668	$7.0m0.13%	0.13%	Reduced -363.2k	-363,182 -62.9%
87	EXPAND ENERGY CORPORATION COM EXE	EXE	59,774	$7.0m0.13%	0.13%	Added +25.0k	+25,022 72.0%
88	QUANTUM COMPUTING INC COM QUBT	QUBT	352,607	$6.8m0.13%	0.13%	Added +314.0k	+313,983 812.9%
89	JD.COM INC SPON ADS CL A JD	JD	196,354	$6.4m0.12%	0.12%	Added +62.6k	+62,620 46.8%
90	ECOLAB INC COM ECL	ECL	22,790	$6.1m0.12%	0.12%	New
91	NVR INC COM NVR	NVR	827	$6.1m0.12%	0.12%	Reduced -11	-11 -1.3%
92	TECK RESOURCES LTD CL B TECK	TECK	150,321	$6.1m0.12%	0.12%	Unchanged
93	FIRST SOLAR INC COM FSLR	FSLR	35,993	$6.0m0.11%	0.11%	Added +3.9k	+3,930 12.3%
94	ILLINOIS TOOL WKS INC COM ITW	ITW	23,818	$5.9m0.11%	0.11%	New
95	AIR PRODS & CHEMS INC COM APD	APD	20,749	$5.9m0.11%	0.11%	New
96	INTELLIA THERAPEUTICS INC COM NTLA	NTLA	623,600	$5.8m0.11%	0.11%	New
97	COINBASE GLOBAL INC COM CL A COIN	COIN	15,846	$5.6m0.11%	0.11%	Added +3.9k	+3,918 32.9%
98	UBER TECHNOLOGIES INC COM UBER	UBER	59,105	$5.5m0.10%	0.10%	Added +214	+214 0.4%
99	MARKEL GROUP INC COM MKL	MKL	2,712	$5.4m0.10%	0.10%	Reduced -1.3k	-1,300 -32.4%
100	ISHARES TR IBOXX HI YD ETF HYG	HYG	61,093	$4.9m0.09%	0.09%	Reduced -68.6k	-68,609 -52.9%

Sold out since Q1 2025

Security	Ticker	Shares held before	Value then
COINSHARES BITCOIN ETF BRRR	BRRR	9,000,000	$209.7m9.0m shares
TRAVELERS COMPANIES INC TRV	TRV	350,000	$92.6m350.0k shares
NORTHROP GRUMMAN CORP NOC	NOC	121,102	$62.0m121.1k shares
FLUTTER ENTMT PLC FLUT	FLUT	200,053	$44.3m200.1k shares
ELEVANCE HEALTH INC ELV	ELV	73,501	$32.0m73.5k shares
PARKER-HANNIFIN CORP PH	PH	50,000	$30.4m50.0k shares
DEUTSCHE BANK A G DB	DB	1,213,547	$28.9m1.2m shares
CINTAS CORP CTAS	CTAS	100,179	$20.6m100.2k shares
CONSTELLATION ENERGY CORP CEG	CEG	100,000	$20.2m100.0k shares
BERKSHIRE HATHAWAY INC DEL BRK.A	BRK.A	24	$19.2m24 shares
SYNOPSYS INC SNPS	SNPS	40,116	$17.2m40.1k shares
SPROTT PHYSICAL GOLD TR PHYS	PHYS	608,830	$14.6m608.8k shares
AMERICAN EXPRESS CO AXP	AXP	50,961	$13.7m51.0k shares
KASPI KZ JSC KSPI	KSPI	130,303	$12.1m130.3k shares
STELLANTIS N.V STLA	STLA	853,031	$9.6m853.0k shares
MARSH & MCLENNAN COS INC MRSH	MRSH	39,000	$9.5m39.0k shares
SPROTT PHYSICAL SILVER TR PSLV	PSLV	742,012	$8.6m742.0k shares
BURFORD CAP LTD BUR	BUR	603,428	$8.0m603.4k shares
VANGUARD INTL EQUITY INDEX F VT	VT	64,941	$7.5m64.9k shares
BANK MONTREAL MEDIUM		409,544	$7.5m409.5k shares
GLOBAL SHIP LEASE INC NEW GSL	GSL	317,506	$7.3m317.5k shares
ASBURY AUTOMOTIVE GROUP INC ABG	ABG	31,665	$7.0m31.7k shares
CME GROUP INC CME	CME	23,362	$6.2m23.4k shares
PAYCHEX INC PAYX	PAYX	38,500	$5.9m38.5k shares
FISERV INC FISV	FISV	24,524	$5.4m24.5k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
MICROSTRATEGY INC MSTR · Put	MSTR	Put	3,314,100	$1.3bn3.3m shares	New
BOOKING HOLDINGS INC BKNG · Put	BKNG	Put	89,700	$519.3m89.7k shares	New
MASTERCARD INCORPORATED MA · Put	MA	Put	772,000	$433.8m772.0k shares	New
TESLA INC TSLA · Put	TSLA	Put	1,124,500	$357.2m1.1m shares	New
TESLA INC TSLA · Call	TSLA	Call	770,000	$244.6m770.0k shares	New
ELI LILLY & CO LLY · Put	LLY	Put	282,500	$220.2m282.5k shares	New
BERKSHIRE HATHAWAY INC DEL BRK.B · Put	BRK.B	Put	400,000	$194.3m400.0k shares	New
INTUIT INTU · Put	INTU	Put	195,000	$153.6m195.0k shares	New
BOOKING HOLDINGS INC BKNG · Call	BKNG	Call	25,000	$144.7m25.0k shares	New
NETFLIX INC NFLX · Put	NFLX	Put	90,000	$120.5m90.0k shares	New
UNITEDHEALTH GROUP INC UNH · Put	UNH	Put	360,000	$112.3m360.0k shares	New
NETFLIX INC NFLX · Call	NFLX	Call	80,000	$107.1m80.0k shares	New
MICROSOFT CORP MSFT · Put	MSFT	Put	206,000	$102.5m206.0k shares	New
CROWDSTRIKE HLDGS INC CRWD · Put	CRWD	Put	200,000	$101.9m200.0k shares	New
MICROSOFT CORP MSFT · Call	MSFT	Call	203,300	$101.1m203.3k shares	New
BERKSHIRE HATHAWAY INC DEL BRK.B · Call	BRK.B	Call	200,000	$97.2m200.0k shares	New
ISHARES TR IWM · Put	IWM	Put	392,500	$84.7m392.5k shares	New
HOME DEPOT INC HD · Put	HD	Put	230,000	$84.3m230.0k shares	New
APPLE INC AAPL · Put	AAPL	Put	377,600	$77.5m377.6k shares	New
HUMANA INC HUM · Put	HUM	Put	305,000	$74.6m305.0k shares	New
ISHARES BITCOIN TRUST ETF IBIT · Call	IBIT	Call	1,207,000	$73.9m1.2m shares	New
SERVICENOW INC NOW · Put	NOW	Put	70,000	$72.0m70.0k shares	New
APPLE INC AAPL · Call	AAPL	Call	341,500	$70.1m341.5k shares	New
GOLDMAN SACHS GROUP INC GS · Put	GS	Put	95,000	$67.2m95.0k shares	New
AMGEN INC AMGN · Put	AMGN	Put	200,000	$55.8m200.0k shares	New