Vault-13

MARA HOLDINGS INC MARA 0 03.01.30

NOTE 3/0 · US DOMESTIC · CUSIP 565788AF3

33 institutional holders -6 vs Q1 2026
4,000,0004.0m shares reported held*
$635.2mreported value*
6 new 11 added 9 reduced 12 sold out net bought ≈ $22.7m (-7.2m shares)

* 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 ≈ $158.80.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0204060Q4 25: 46Q1 26: 39Q2 26: 3333Q4 25Q1 26Q2 26
Numbers
QuarterHolders
Q4 202546
Q1 202639
Q2 202633

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
40040Q1 26: 23 bought or addedQ1 26: 30 cut or sold outQ1 26Q2 26: 17 bought or addedQ2 26: 21 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q1 20262330
Q2 20261721

Calls vs puts

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

CallsPuts
$0$200k$400k$600kQ3 25 calls: $0Q3 25 puts: $0Q3 25P/C —Q4 25 calls: $0Q4 25 puts: $443.7kQ4 25P/C —Q1 26 calls: $0Q1 26 puts: $0Q1 26P/C —Q2 26 calls: $0Q2 26 puts: $0Q2 26P/C —
Numbers
QuarterCallsPutsP/C
Q3 2025$0$0—
Q4 2025$0$443.7k—
Q1 2026$0$0—
Q2 2026$0$0—

Biggest buyers

Context Capital Management, LLC Added +53,500,000+53.5m
D. E. Shaw & Co., Inc. Added +34,139,000+34.1m
Linden Advisors LP New +29,771,000+29.8m
Graham Capital Management, L.P. Added +28,909,000+28.9m
DeepCurrents Investment Group LLC New +28,500,000+28.5m
ARISTEIA CAPITAL, L.L.C. Added +5,500,000+5.5m
Nantahala Capital Management, LLC Added +5,000,000+5.0m
Fort Baker Capital Management LP Added +5,000,000+5.0m
TWO SIGMA INVESTMENTS, LP New +3,000,000+3.0m
MILLENNIUM MANAGEMENT LLC Added +3,000,000+3.0m

Biggest sellers

Point72 Asset Management, L.P. Reduced -57,000,000-57.0m
HIGHBRIDGE CAPITAL MANAGEMENT LLC Sold out -35,313,000-35.3m
DLD Asset Management, LP Sold out -20,000,000-20.0m
BANK OF AMERICA CORP /DE/ Sold out -14,814,000-14.8m
Sculptor Capital LP Sold out -12,250,000-12.2m
SSI INVESTMENT MANAGEMENT LLC Sold out -7,194,000-7.2m
Magnetar Financial LLC Sold out -7,000,000-7.0m
STATE STREET CORP Reduced -6,530,000-6.5m
FRANKLIN RESOURCES INC Sold out -5,979,000-6.0m
BlackRock, Inc. Reduced -3,650,000-3.6m

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Context Capital Management, LLC 2.22% of their portfolio LAJOLLA, CA 109,800,000109.8m $110.2m $110.2m 2.22% Added +53.5m +53,500,000
2 D. E. Shaw & Co., Inc. 0.06% of their portfolio New York, NY 91,028,00091.0m $91.5m $91.5m 0.06% Added +34.1m +34,139,000
3 WHITEBOX ADVISORS LLC 1.17% of their portfolio MINNEAPOLIS, MN 72,250,00072.2m $72.2m $72.2m 1.17% Added +2.4m +2,400,000
4 Point72 Asset Management, L.P. 0.08% of their portfolio STAMFORD, CT 52,705,00052.7m $53.1m $53.1m 0.08% Reduced -57.0m -57,000,000
5 ARISTEIA CAPITAL, L.L.C. 0.77% of their portfolio GREENWICH, CT 48,702,00048.7m $48.9m $48.9m 0.77% Added +5.5m +5,500,000
6 Graham Capital Management, L.P. 1.23% of their portfolio ROWAYTON, CT 45,909,00045.9m $46.1m $46.1m 1.23% Added +28.9m +28,909,000
7 Linden Advisors LP 0.15% of their portfolio New York, NY 29,771,00029.8m $29.9m $29.9m 0.15% New
8 DeepCurrents Investment Group LLC 0.98% of their portfolio NEW YORK, NY 28,500,00028.5m $28.7m $28.7m 0.98% New
9 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 20,925,00020.9m $21.1m $21.1m 0.01% Added +3.0m +3,000,000
10 CAPSTONE INVESTMENT ADVISORS, LLC 0.11% of their portfolio NEW YORK, NY 16,000,00016.0m $16.1m $16.1m 0.11% Reduced -1.5m -1,500,000
11 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 15,584,00015.6m $15.6m $15.6m 0.00% Reduced -6.5m -6,530,000
12 BlackRock, Inc. 0.00% of their portfolio New York, NY 12,375,00012.4m $12.4m $12.4m 0.00% Reduced -3.6m -3,650,000
13 Nantahala Capital Management, LLC 0.30% of their portfolio NEW CANAAN, CT 10,000,00010.0m $10.0m $10.0m 0.30% Added +5.0m +5,000,000
14 CSS LLC/IL 0.42% of their portfolio CHICAGO, IL 9,467,0009.5m $9.5m $9.5m 0.42% Reduced -3.5m -3,466,000
15 FMR LLC 0.00% of their portfolio BOSTON, MA 7,775,0007.8m $7.8m $7.8m 0.00% Reduced -1.2m -1,175,000
16 Calamos Advisors LLC 0.03% of their portfolio NAPERVILLE, IL 7,000,0007.0m $7.0m $7.0m 0.03% Unchanged
17 Fort Baker Capital Management LP 0.56% of their portfolio Larkspur, CA 7,000,0007.0m $7.0m $7.0m 0.56% Added +5.0m +5,000,000
18 BTG Pactual Asset Management US LLC 0.45% of their portfolio NEW YORK, NY 6,000,0006.0m $6.0m $6.0m 0.45% Unchanged
19 UBS Group AG 0.00% of their portfolio ZURICH, V8 4,536,0004.5m $4.5m $4.5m 0.00% Unchanged
20 STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio MADISON, WI 4,000,0004.0m $4.0m $4.0m 0.01% Added +1.0m +1,000,000
21 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 4,000,0004.0m $4.0m $4.0m 0.00% Reduced -1.1m -1,150,000
22 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 3,819,0003.8m $3.8m $3.8m 0.00% Added +1.9m +1,850,000
23 TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio NEW YORK, NY 3,000,0003.0m $3.0m $3.0m 0.00% New
24 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 2,500,0002.5m $2.5m $2.5m 0.00% Unchanged
25 ADVENT CAPITAL MANAGEMENT /DE/ 0.05% of their portfolio NEW YORK, NY 2,170,0002.2m $2.2m $2.2m 0.05% Reduced -630.0k -630,000
26 Pinpoint Asset Management (Singapore) Pte. Ltd. 0.41% of their portfolio SINGAPORE, U0 2,000,0002.0m $2.0m $2.0m 0.41% Unchanged
27 DNCA FINANCE 0.05% of their portfolio PARIS, I0 1,050,0001.1m $1.1m $1.1m 0.05% Added +400.0k +400,000
28 Balyasny Asset Management L.P. 0.00% of their portfolio Chicago, IL 1,000,0001.0m $1.0m $1.0m 0.00% New
29 SSI INVESTMENT MANAGEMENT LLC 0.03% of their portfolio Los Angeles, CA 534,000534.0k $533.7k $533.7k 0.03% New
30 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 150,000150.0k $152.0k $152.0k 0.00% New
31 K2 PRINCIPAL FUND, L.P. 1.15% of their portfolio TORONTO, A6 12,50012.5k $12.6m $12.6m 1.15% Unchanged
32 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 8,3008.3k $827.0k $827.0k 0.00% Reduced -3.7k -3,700
33 Erste Asset Management GmbH 0.00% of their portfolio VIENNA, C4 00 $0 $0 0.00% Unchanged