MARA HOLDINGS INC MARA
COM · Common Stock · CUSIP 565788106 · ISIN US5657881067
American patent holding company
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($4.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $8.16. Options: 43 managers hold calls ($603.9m notional), 47 hold puts ($612.5m).
Trends to Q1 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 202 |
| Q4 2022 | 221 |
| Q1 2023 | 207 |
| Q2 2023 | 217 |
| Q3 2023 | 217 |
| Q4 2023 | 274 |
| Q1 2024 | 302 |
| Q2 2024 | 327 |
| Q3 2024 | 321 |
| Q4 2024 | 359 |
| Q1 2025 | 349 |
| Q2 2025 | 364 |
| Q3 2025 | 393 |
| Q4 2025 | 401 |
| Q1 2026 | 387 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2024 | 208 | 127 |
| Q3 2024 | 174 | 140 |
| Q4 2024 | 244 | 100 |
| Q1 2025 | 201 | 157 |
| Q2 2025 | 215 | 142 |
| Q3 2025 | 243 | 137 |
| Q4 2025 | 209 | 214 |
| Q1 2026 | 218 | 186 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2025 | $895.5m | $1.1bn | 1.23 |
| Q3 2025 | $1.7bn | $1.7bn | 0.99 |
| Q4 2025 | $658.1m | $759.5m | 1.15 |
| Q1 2026 | $603.9m | $612.5m | 1.01 |
Biggest buyers
| HRT FINANCIAL LP | New | +3.7m |
| JPMORGAN CHASE & CO | Added | +2.9m |
| GOLDMAN SACHS GROUP INC | Added | +2.3m |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | +1.7m |
| BANK OF AMERICA CORP /DE/ | Added | +1.7m |
| BlackRock, Inc. | Added | +1.2m |
| Clear Street Group Inc. | Added | +1.1m |
| MARSHALL WACE, LLP | New | +873.1k |
| VAN ECK ASSOCIATES CORP | Added | +754.4k |
| Delta Global Management LP | New | +620.6k |
Biggest sellers
| Capital World Investors | Sold out | -3.0m |
| CAPITAL FUND MANAGEMENT S.A. | Sold out | -2.0m |
| UBS Group AG | Reduced | -2.0m |
| RENAISSANCE TECHNOLOGIES LLC | Sold out | -1.9m |
| Marex Group Ltd | Reduced | -1.8m |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | Sold out | -1.6m |
| Massar Capital Management, LP | Reduced | -1.6m |
| JANE STREET GROUP, LLC | Reduced | -1.3m |
| OLD MISSION CAPITAL LLC | Sold out | -1.2m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Sold out | -1.1m |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $124.4m15.2m shares |
| Tidal Investments LLC | Added | $95.6m11.7m shares |
| JANE STREET GROUP, LLC | Added | $89.1m10.9m shares |
| CITADEL ADVISORS LLC | Added | $87.2m10.7m shares |
| IMC-Chicago, LLC | Reduced | $36.2m4.4m shares |
| Parallax Volatility Advisers, L.P. | Reduced | $26.0m2.3m shares |
| SIMPLEX TRADING, LLC | Reduced | $22.7m2.8m shares |
| D. E. Shaw & Co., Inc. | Added | $20.4m2.5m shares |
| Optiver Holding B.V. | New | $12.9m1.6m shares |
| Walleye Trading LLC | Added | $12.0m1.5m shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $101.0m12.4m shares |
| WOLVERINE ASSET MANAGEMENT LLC | Reduced | $92.2m11.3m shares |
| JANE STREET GROUP, LLC | Added | $65.3m8.0m shares |
| CITADEL ADVISORS LLC | Reduced | $56.2m6.9m shares |
| IMC-Chicago, LLC | New | $41.7m5.1m shares |
| WHITEBOX ADVISORS LLC | Added | $35.7m4.4m shares |
| SIMPLEX TRADING, LLC | New | $35.5m4.3m shares |
| DLD Asset Management, LP | Added | $23.9m2.9m shares |
| D. E. Shaw & Co., Inc. | Reduced | $23.1m2.8m shares |
| Parallax Volatility Advisers, L.P. | Reduced | $20.4m1.8m shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 7.0% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 5.0% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC)
Insider purchases and sales in Q1 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q2 2024 | 0 | — | 1 | $209.4k | — |
| Q3 2024 | 0 | — | 3 | $726.2k | $726.2k |
| Q4 2024 | 0 | — | 4 | $3.3m | $3.3m |
| Q1 2025 | 0 | — | 3 | $1.2m | $1.2m |
| Q2 2025 | 0 | — | 3 | $3.1m | $3.1m |
| Q3 2025 | 0 | — | 4 | $3.9m | $3.7m |
| Q4 2025 | 0 | — | 4 | $3.3m | $2.8m |
| Q1 2026 | 0 | — | 2 | $1.0m | $1.0m |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-03-17 | Thiel Frederick G Chief Executive Officer, director | Sold plan | $252.5k27.5k shares |
| 2026-03-17 | Khan Salman Hassan Chief Financial Officer · By S & N Khan Family Trust | Sold plan | $146.9k16.0k shares |
| 2026-02-17 | Thiel Frederick G Chief Executive Officer, director | Sold plan | $210.7k27.5k shares |
| 2026-02-17 | Khan Salman Hassan Chief Financial Officer · By S & N Khan Family Trust | Sold plan | $122.6k16.0k shares |
| 2026-01-20 | Thiel Frederick G Chief Executive Officer, director | Sold plan | $297.1k27.5k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q1 2026
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.01% of their portfolio | 59.8m $487.8m | Added +1.2m |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.01% of their portfolio | 26.4m $215.7m | First filing |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 16.4m $133.4m | First filing |
| STATE STREET CORP 0.00% of their portfolio | 15.2m $124.2m | Added +455.2k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 10.3m $84.2m | Added +357.4k |
| Marex Group Ltd 0.70% of their portfolio | 8.3m $67.8m | Reduced -1.8m |
| UBS Group AG 0.01% of their portfolio | 7.6m $62.2m | Reduced -2.0m |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 6.0m $49.2m | Added +2.3m |
| MORGAN STANLEY 0.00% of their portfolio | 5.2m $42.6m | Reduced -1.1m |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 5.1m $41.5m | Added +1.7m |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 4.7m $36.4m | Added +2.9m |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 4.1m $33.5m | Reduced -287.1k |
| HRT FINANCIAL LP 0.11% of their portfolio | 3.7m $30.0m | New |
| VAN ECK ASSOCIATES CORP 0.02% of their portfolio | 3.5m $28.4m | Added +754.4k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 3.3m $27.3m | Added +221.5k |
| Capital Research Global Investors 0.00% of their portfolio | 3.3m $27.1m | Reduced -382.1k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 2.5m $20.1m | Reduced -48.6k |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 2.4m $19.8m | First filing |
| Clear Street Group Inc. 0.11% of their portfolio | 2.3m $19.2m | Added +1.1m |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.02% of their portfolio | 2.1m $17.3m | Added +1.7m |
| EXCHANGE TRADED CONCEPTS, LLC 0.12% of their portfolio | 2.0m $16.0m | Added +417.0k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 1.8m $15.0m | Added +36.0k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.02% of their portfolio | 1.8m $14.6m | Reduced -119.1k |
| Invesco Ltd. 0.00% of their portfolio | 1.6m $13.1m | Added +90.9k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 1.6m $12.9m | Reduced -183.1k |
| Vident Advisory, LLC 0.11% of their portfolio | 1.5m $12.6m | Reduced -148.7k |
| Public Sector Pension Investment Board 0.03% of their portfolio | 1.4m $11.0m | Added +44.1k |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 1.3m $10.8m | Reduced -186.0k |
| BARCLAYS PLC 0.00% of their portfolio | 1.3m $10.5m | Reduced -448.6k |
| Tidal Investments LLC 0.03% of their portfolio | 1.1m $9.3m | Added +122.8k |
| IMC-Chicago, LLC 0.14% of their portfolio | 1.1m $9.0m | Added +344.2k |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 1.1m $9.0m | Added +14.8k |
| LPL Financial LLC 0.00% of their portfolio | 994.5k $8.1m | Added +11.9k |
| FIRST TRUST ADVISORS LP 0.01% of their portfolio | 974.2k $7.9m | Reduced -431.8k |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 964.6k $7.9m | Reduced -427.7k |
| Nuveen, LLC 0.00% of their portfolio | 955.0k $7.8m | Added +74.2k |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.01% of their portfolio | 923.3k $7.5m | Reduced -156.7k |
| MARSHALL WACE, LLP 0.01% of their portfolio | 873.1k $7.1m | New |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 821.3k $6.7m | Added +69.1k |
| Legal & General Group Plc 0.00% of their portfolio | 815.0k $6.7m | Reduced -92.0k |
| CITIGROUP INC 0.00% of their portfolio | 793.0k $6.5m | Added +181.5k |
| Marathon Trading Investment Management LLC 1.77% of their portfolio | 729.9k $6.0m | Added +513.0k |
| Swiss National Bank 0.00% of their portfolio | 693.9k $5.7m | Unchanged |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 685.7k $5.6m | Added +85.1k |
| BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.04% of their portfolio | 664.8k $5.4m | Added +373.4k |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 634.2k $5.1m | Reduced -503.7k |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 620.6k $5.1m | Reduced -244.5k |
| Delta Global Management LP 0.41% of their portfolio | 620.6k $5.1m | New |
| SG Americas Securities, LLC 0.01% of their portfolio | 614.0k $5.0m | Reduced -805.1k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% of their portfolio | 585.1k $4.8m | Reduced -33.2k |
| Walleye Capital LLC 0.03% of their portfolio | 555.6k $4.5m | Added +553.4k |
| COMPASS ROSE ASSET MANAGEMENT, LP 1.38% of their portfolio | 520.0k $4.2m | New |
| VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 507.4k $4.1m | Reduced -146.2k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 456.2k $4.1m | Reduced -4.1k |
| NOMURA HOLDINGS INC 0.03% of their portfolio | 447.5k $3.7m | Reduced -76.8k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 432.3k $3.5m | Added +410.9k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 424.6k $3.5m | Added +34.8k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 412.1k $3.4m | Added +78.8k |
| Foundations Investment Advisors, LLC 0.04% of their portfolio | 403.7k $3.3m | Added +294.8k |
| Caption Management, LLC 0.15% of their portfolio | 396.0k $3.2m | New |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 392.0k $3.2m | Reduced -35.7k |
| PRUDENTIAL FINANCIAL INC 0.00% of their portfolio | 386.3k $3.2m | Added +32.7k |
| Focus Partners Wealth 0.00% of their portfolio | 382.6k $3.1m | Added +47.0k |
| Quantbot Technologies LP 0.13% of their portfolio | 375.4k $3.1m | Added +293.8k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 373.4k $3.0m | Added +54.9k |
| Man Group plc 0.01% of their portfolio | 354.6k $2.9m | New |
| Edgestream Partners, L.P. 0.09% of their portfolio | 350.9k $2.9m | New |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 349.9k $2.9m | Reduced -3.1k |
| MIZUHO MARKETS AMERICAS LLC 0.08% of their portfolio | 347.2k $2.8m | Added +16.6k |
| VANGUARD ASSET MANAGEMENT, Ltd 0.00% of their portfolio | 338.7k $2.8m | First filing |
| INTECH INVESTMENT MANAGEMENT LLC 0.03% of their portfolio | 335.2k $2.7m | Added +122.1k |
| Havemeyer Place LP 0.29% of their portfolio | 312.8k $2.6m | New |
| Headlands Technologies LLC 0.27% of their portfolio | 294.1k $2.4m | New |
| ExodusPoint Capital Management, LP 0.02% of their portfolio | 284.8k $2.3m | Added +234.6k |
| ALGERT GLOBAL LLC 0.03% of their portfolio | 266.4k $2.2m | Reduced -109.0k |
| Aptus Capital Advisors, LLC 0.02% of their portfolio | 265.1k $2.2m | Added +15.5k |
| Second Line Capital, LLC 0.60% of their portfolio | 263.8k $3.2m | Added +14.9k |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 256.6k $2.1m | Added +9.5k |
| Thrivent Financial for Lutherans 0.00% of their portfolio | 252.4k $2.1m | Reduced -7.4k |
| Generali Asset Management SPA SGR 0.04% of their portfolio | 250.0k $2.0m | Unchanged |
| Balyasny Asset Management L.P. 0.00% of their portfolio | 231.4k $1.9m | New |
| SONA ASSET MANAGEMENT (US) LLC 0.07% of their portfolio | 230.0k $1.9m | New |
| Vontobel Holding Ltd. 0.01% of their portfolio | 226.8k $1.9m | Reduced -2.3k |
| MetLife Investment Management, LLC 0.01% of their portfolio | 205.6k $1.7m | Added +5.0k |
| Harvest Portfolios Group Inc. 0.03% of their portfolio | 201.4k $1.6m | Reduced -14.9k |
| Illinois Municipal Retirement Fund 0.02% of their portfolio | 201.0k $1.6m | Added +2.1k |
| Jefferies Financial Group Inc. 0.02% of their portfolio | 192.3k $1.6m | Added +123.3k |
| State of Alaska, Department of Revenue 0.02% of their portfolio | 186.7k $1.5m | Reduced -5.7k |
| XTX Topco Ltd 0.03% of their portfolio | 185.8k $1.5m | Added +116.0k |
| Cetera Investment Advisers 0.00% of their portfolio | 185.7k $1.5m | Added +2.4k |
| Creative Planning 0.00% of their portfolio | 180.6k $1.5m | Added +108.2k |
| Generali Investments CEE, investicni spolecnost, a.s. 0.08% of their portfolio | 177.2k $1.4m | Unchanged |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 170.7k $1.4m | Reduced -13.2k |
| Louisiana State Employees Retirement System 0.02% of their portfolio | 167.7k $1.4m | Reduced -5.5k |
| Quantinno Capital Management LP 0.00% of their portfolio | 166.6k $1.4m | Added +126.5k |
| Vanguard Global Advisers, LLC 0.00% of their portfolio | 155.0k $1.3m | First filing |
| JANUS HENDERSON GROUP PLC 0.00% of their portfolio | 150.2k $1.2m | Unchanged |
| CAPSTONE INVESTMENT ADVISORS, LLC 0.01% of their portfolio | 144.0k $1.2m | Added +113.2k |
| GROUP ONE TRADING LLC 0.04% of their portfolio | 141.9k $1.2m | New |
| COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio | 141.6k $1.2m | Added +51.6k |