Ionic Capital Management LLC

CIK 0001386462 · Q2 2026

13F Equity AUM

$690.2M

-47.1% QoQ

Positions

112

-38 QoQ

AUM Rank

#4,139

Top 33%

Skill Alpha (FF)

-4.4%/yr^ns

No Clear Edge

Rank #7,484 · Top 90%

vs S&P -8.6%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 85.2%Top 10: 87.7%Top 20: 91.4%

HYG81.1%

EWZ1.7%

FLEX0.9%

UNITY SOFTWARE INC0.7%

ETSY INC0.7%

AKAM0.6%

NEM0.5%

WD5A0.5%

CSTM0.5%

META0.5%

Others (102)12.3%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services85.3%

Technology6.0%

Unclassified2.2%

Other6.4%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 112Median: 0.09%Avg: 0.89%

0–0.5%

103(12.7%)

0.5–1%

7(4.5%)

1–3%

1(1.7%)

3–5%

0(0.0%)

5%+

1(81.1%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 112vs 20 funds

0%Low

112

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New26Increased25Decreased54Exited64

New Positions

ETSY INC0.7%

+3.9M

COF0.3%

+10K

SPY0.3%

+3K

ITT0.2%

+8K

IGT0.1%

+88K

MSI0.1%

+2K

DSG0.1%

+13K

BE0.1%

+3K

SUPER MICRO COMPUTER…0.1%

+16K

RKT0.1%

+40K

Increased

UNITY SOFTWARE INC0.7%

+1.9M(+74%)

EWZ1.7%

+150K(+77%)

FIS0.3%

+39K(+170%)

XZO0.3%

+37K(+47%)

NEM0.5%

+34K(+616%)

SARO0.3%

+29K(+78%)

MIGA0.3%

+21K(+423%)

REZI0.3%

+17K(+37%)

CLSK0.1%

+13K(+26%)

JAMES HARDIE INDS PL…0.4%

+10K(+9%)

Decreased

HYG81.1%

-4,592,800(-40%)

GCTS/WS0.0%

-486,777(-72%)

AUROW0.0%

-486,257(-92%)

LVWR/WS0.0%

-447,609(-29%)

GTM0.0%

-341,655(-90%)

KWMWW0.0%

-146,760(-37%)

NPWR/WS0.0%

-140,167(-83%)

AIOT0.2%

-128,760(-23%)

NAK0.1%

-113,314(-25%)

SPRO0.0%

-93,241(-48%)

Exited

-650,000

-270,000

-108,000

-1,000,500

-4,000,000

-4,000,000

-3,500,000

-37,500

-40,000

-391,950

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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