Vault-13

MARA HOLDINGS INC MARA 0 03.01.30

NOTE 3/0 · US DOMESTIC · CUSIP 565788AF3

46 institutional holders
5,000,0005.0m shares reported held*
$724.2mreported value*

* 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. Holder counts are more reliable. Implied quarter-end price ≈ $144.84. Options: 0 managers hold calls (— notional), 1 hold puts ($443.7k).

Trends to Q4 2025

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$200k$400k$600kQ1 25 calls: $0Q1 25 puts: $0Q1 25P/C —Q2 25 calls: $0Q2 25 puts: $0Q2 25P/C —Q3 25 calls: $0Q3 25 puts: $0Q3 25P/C —Q4 25 calls: $0Q4 25 puts: $443.7kQ4 25P/C —
Numbers
QuarterCallsPutsP/C
Q1 2025$0$0—
Q2 2025$0$0—
Q3 2025$0$0—
Q4 2025$0$443.7k—

Biggest buyers

Linden Advisors LP New +106,500,000+106.5m
D. E. Shaw & Co., Inc. New +87,889,000+87.9m
WHITEBOX ADVISORS LLC New +69,850,000+69.8m
WOLVERINE ASSET MANAGEMENT LLC New +66,400,000+66.4m
Magnetar Financial LLC New +51,000,000+51.0m
Balyasny Asset Management L.P. New +46,000,000+46.0m
SUSQUEHANNA ADVISORS GROUP, INC. New +39,670,000+39.7m
DeepCurrents Investment Group LLC New +38,200,000+38.2m
Graham Capital Management, L.P. New +36,029,000+36.0m
TWO SIGMA INVESTMENTS, LP New +34,000,000+34.0m

Biggest sellers

None

Biggest calls

None

Biggest puts

DEUTSCHE BANK AG\ New $443.7k566.0k 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.

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Linden Advisors LP 0.52% of their portfolio New York, NY 106,500,000106.5m $83.9m $83.9m 0.52% New
2 D. E. Shaw & Co., Inc. 0.05% of their portfolio New York, NY 87,889,00087.9m $69.2m $69.2m 0.05% New
3 WHITEBOX ADVISORS LLC 0.92% of their portfolio MINNEAPOLIS, MN 69,850,00069.8m $55.0m $55.0m 0.92% New
4 WOLVERINE ASSET MANAGEMENT LLC 0.74% of their portfolio CHICAGO, IL 66,400,00066.4m $52.1m $52.1m 0.74% New
5 Magnetar Financial LLC 0.39% of their portfolio EVANSTON, IL 51,000,00051.0m $40.2m $40.2m 0.39% New
6 Balyasny Asset Management L.P. 0.07% of their portfolio Chicago, IL 46,000,00046.0m $36.5m $36.5m 0.07% New
7 SUSQUEHANNA ADVISORS GROUP, INC. 1.05% of their portfolio BALA CYNWYD, PA 39,670,00039.7m $32.5m $32.5m 1.05% New
8 DeepCurrents Investment Group LLC 1.12% of their portfolio NEW YORK, NY 38,200,00038.2m $30.2m $30.2m 1.12% New
9 Graham Capital Management, L.P. 0.98% of their portfolio ROWAYTON, CT 36,029,00036.0m $28.4m $28.4m 0.98% New
10 TWO SIGMA INVESTMENTS, LP 0.04% of their portfolio NEW YORK, NY 34,000,00034.0m $26.7m $26.7m 0.04% New
11 HIGHBRIDGE CAPITAL MANAGEMENT LLC 1.45% of their portfolio NEW YORK, NY 31,813,00031.8m $31.5m $31.5m 1.45% New
12 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 27,118,00027.1m $214.0k $214.0k 0.00% New
13 Point72 Asset Management, L.P. 0.03% of their portfolio STAMFORD, CT 24,500,00024.5m $19.4m $19.4m 0.03% New
14 Walleye Capital LLC 0.10% of their portfolio NEW YORK, NY 23,145,00023.1m $18.3m $18.3m 0.10% New
15 Jefferies Financial Group Inc. 0.14% of their portfolio NEW YORK, NY 21,477,00021.5m $16.9m $16.9m 0.14% New
16 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 21,455,00021.5m $17.0m $17.0m 0.00% New
17 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 21,350,00021.4m $16.8m $16.8m 0.01% New
18 Blackstone Inc. 0.07% of their portfolio NEW YORK, NY 20,000,00020.0m $15.8m $15.8m 0.07% Not comparable
19 Sculptor Capital LP 0.17% of their portfolio New York, NY 17,500,00017.5m $13.9m $13.9m 0.17% New
20 Calamos Advisors LLC 0.06% of their portfolio NAPERVILLE, IL 17,000,00017.0m $13.5m $13.5m 0.06% New
21 LMR Partners LLP 0.12% of their portfolio LONDON, X0 15,750,00015.8m $12.5m $12.5m 0.12% New
22 CAPSTONE INVESTMENT ADVISORS, LLC 0.10% of their portfolio NEW YORK, NY 15,000,00015.0m $11.8m $11.8m 0.10% New
23 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.01% of their portfolio FRANKFURT AM MAIN, 2M 13,500,00013.5m $10.6m $10.6m 0.01% New
24 BlackRock, Inc. 0.00% of their portfolio New York, NY 12,600,00012.6m $9.9m $9.9m 0.00% New
25 CSS LLC/IL 0.51% of their portfolio CHICAGO, IL 11,500,00011.5m $9.0m $9.0m 0.51% New
26 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 7,394,0007.4m $5.8m $5.8m 0.00% New
27 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 6,820,0006.8m $5.3m $5.3m 0.00% New
28 Man Group plc 0.01% of their portfolio LONDON, X0 6,440,0006.4m $5.1m $5.1m 0.01% New
29 Nantahala Capital Management, LLC 0.24% of their portfolio NEW CANAAN, CT 5,000,0005.0m $3.9m $3.9m 0.24% New
30 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 4,900,0004.9m $3.8m $3.8m 0.00% New
31 BOOTHBAY FUND MANAGEMENT, LLC 0.09% of their portfolio NEW YORK, NY 4,200,0004.2m $3.3m $3.3m 0.09% New
32 RWC Asset Management LLP 0.15% of their portfolio LONDON, X0 3,870,0003.9m $3.1m $3.1m 0.15% New
33 STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio MADISON, WI 3,000,0003.0m $2.4m $2.4m 0.01% New
34 ARISTEIA CAPITAL, L.L.C. 0.07% of their portfolio GREENWICH, CT 3,000,0003.0m $2.4m $2.4m 0.07% New
35 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 2,211,0002.2m $1.7m $1.7m 0.00% New
36 Pinpoint Asset Management (Singapore) Pte. Ltd. 0.33% of their portfolio SINGAPORE, U0 2,000,0002.0m $1.6m $1.6m 0.33% New
37 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.00% of their portfolio TORONTO, A6 1,500,0001.5m $1.2m $1.2m 0.00% New
38 SHENKMAN CAPITAL MANAGEMENT INC 0.09% of their portfolio NEW YORK, NY 1,088,0001.1m $858.4k $858.4k 0.09% New
39 GROUPAMA ASSET MANAGMENT 0.01% of their portfolio PARIS, I0 750,000750.0k $600.1k $600.1k 0.01% New
40 SSI INVESTMENT MANAGEMENT LLC 0.02% of their portfolio Los Angeles, CA 415,000415.0k $325.4k $325.4k 0.02% New
41 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 375,000375.0k $306.5k $306.5k 0.00% New
42 Ares Systematic Credit Ltd 0.19% of their portfolio LONDON, X0 300,000300.0k $236.7k $236.7k 0.19% First filing
43 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 178,000178.0k $141.7k $141.7k 0.00% New
44 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 154,000154.0k $120.7k $120.7k 0.00% New
45 K2 PRINCIPAL FUND, L.P. 1.02% of their portfolio TORONTO, A6 12,50012.5k $9.9m $9.9m 1.02% New
46 Erste Asset Management GmbH 0.00% of their portfolio VIENNA, C4 00 $0 $0 0.00% New