13F filer · CIK 1423053 ↗
Citadel
You are looking at Q1 2025. See the latest, Q2 2026 →
Reported value
$527.32B
−8.7% on the quarter before
Positions
14,358
1,745 new · 1,790 sold out
Top 10
31.7%
of the value
Est. gain
−$2.35B
on stocks held all quarter
Est. return
−3.7%
on those stocks since Q4 2024
Positions as of Mar 31, 2025, from Citadel's 13F filing with the SEC. A 13F lists a manager's US-listed stocks and options at a quarter end and is filed up to 45 days later, so the fund may hold something else today. It leaves out short positions, cash and holdings outside the US.
Portfolio at a glance
- New
- Added
- Cut
- Same
- Options
The 24 largest positions, 42% of the reported value, each sized by its share, colored by what the fund did with it since Q4 2024. Striped tiles are options.
Largest buys
Since Q4 2024, by estimated size: the change in shares at the quarter-end price, since a 13F gives no trade prices. Percentages are the position's share of the portfolio, before and after.
- SPDR S&P 500 ETF TrPUT~$10.44BAdded · 6.0% → 8.2%+18,667,500 underlying
- Invesco Qqq TrCALL~$4.88BAdded · 2.8% → 3.8%+10,415,400 underlying
- TeslaPUT~$3.07BAdded · 2.2% → 2.1%+11,856,100 underlying
- Ishares TrPUT~$1.88BAdded · 0.2% → 0.5%+23,874,600 underlying
- Schwab Charles Corp~$1.44BAdded · 0.0% → 0.3%+18,410,193 shares
- Ishares TrPUT~$1.35BAdded · 1.2% → 1.4%+6,747,600 underlying
- SPDR S&P 500 ETF TrCALL~$1.17BAdded · 5.7% → 6.2%+2,086,600 underlying
- SPDR Gold TrPUT~$1.13BAdded · 0.2% → 0.5%+3,914,300 underlying
- Invesco Qqq Tr~$1.06BAdded · 0.0% → 0.2%+2,268,420 shares
- MetaCALL~$681.7MAdded · 1.3% → 1.5%+1,182,700 underlying
Largest sells
Since Q4 2024, by estimated size: the change in shares at the quarter-end price, since a 13F gives no trade prices. Percentages are the position's share of the portfolio, before and after.
- NvidiaCALL~$4.33BCut · 3.0% → 1.8%−39,994,100 underlying
- NvidiaPUT~$4.11BCut · 2.7% → 1.6%−37,884,100 underlying
- MicrosoftCALL~$1.74BCut · 1.2% → 0.8%−4,634,200 underlying
- MicrosoftPUT~$1.46BCut · 0.8% → 0.5%−3,900,200 underlying
- ApplePUT~$1.02BCut · 1.4% → 1.1%−4,596,400 underlying
- SPDR S&P 500 ETF Tr~$940.8MCut · 0.2% → 0.0%−1,681,765 shares
- TeslaCALL~$935.2MCut · 2.9% → 1.8%−3,608,600 underlying
- Boeing Co~$880.0MCut · 0.2% → 0.0%−5,159,695 shares
- BroadcomPUT~$822.3MCut · 0.5% → 0.3%−4,911,100 underlying
- Gallagher Arthur J & Co~$819.2MCut · 0.1% → 0.0%−2,372,904 shares
Holdings
As of Mar 31, 2025. Changes are in shares against Dec 31, 2024, so a price move alone never reads as a buy or a sale.
| Holding | Value | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SPDR S&P 500 ETF TrPUTTR UNIT · shares +32% | 8.2% | $43.39B | ||||||||
| SPDR S&P 500 ETF TrCALLTR UNIT · shares +3.7% | 6.2% | $32.78B | ||||||||
| Invesco Qqq TrCALLUNIT SER 1 · shares +33% | 3.8% | $19.91B | ||||||||
| Invesco Qqq TrPUTUNIT SER 1 · shares +0.3% | 3.2% | $16.71B | ||||||||
| TeslaPUTCOM · shares +38% | 2.1% | $11.13B | ||||||||
| TeslaCALLCOM · shares −8.8% | 1.8% | $9.68B | ||||||||
| NvidiaCALLCOM · shares −31% | 1.8% | $9.43B | ||||||||
| NvidiaPUTCOM · shares −32% | 1.6% | $8.58B | ||||||||
| MetaCALLCL A · shares +9.2% | 1.5% | $8.10B | ||||||||
| Ishares TrPUTRUSSELL 2000 ETF · shares +22% | 1.4% | $7.59B | ||||||||
| AppleCALLCOM · shares −6.7% | 1.3% | $6.88B | ||||||||
| MetaPUTCL A · shares +12% | 1.2% | $6.10B | ||||||||
| ApplePUTCOM · shares −14% | 1.1% | $6.05B | ||||||||
| Ishares TrCALLRUSSELL 2000 ETF · shares −0.5% | 0.84% | $4.45B | ||||||||
| MicrosoftCALLCOM · shares −29% | 0.80% | $4.22B | ||||||||
| AmazonCALLCOM · shares +7.9% | 0.71% | $3.74B | ||||||||
| AmazonPUTCOM · shares +5.1% | 0.64% | $3.40B | ||||||||
| Microstrategy IncPUTCL A NEW · shares −14% | 0.64% | $3.38B | ||||||||
| SPDR Gold TrCALLGOLD SHS · shares +12% | 0.61% | $3.23B | ||||||||
| Microstrategy IncCALLCL A NEW · shares −4.3% | 0.54% | $2.87B | ||||||||
| MicrosoftPUTCOM · shares −34% | 0.54% | $2.85B | ||||||||
| Ishares TrPUTIBOXX HI YD ETF · shares +208% | 0.53% | $2.79B | ||||||||
| SPDR Gold TrPUTGOLD SHS · shares +69% | 0.53% | $2.77B | ||||||||
| NetflixPUTCOM · shares −17% | 0.45% | $2.39B | ||||||||
| NetflixCALLCOM · shares −21% | 0.43% | $2.28B | ||||||||
| Total · 14,358 positions | 100% | $527.32B |
What made money
From Q4 2024 to Q1 2025: 4,591 stocks held throughout, down $2.35B (−3.7%).
- Hess Corp+$223.6M+20%
- Cvs Health Corp+$143.1M+51%
- Gilead Sciences Inc+$92.4M+21%
- AT&T+$83.3M+24%
- Medtronic Plc+$59.6M+12%
- Amazon−$60.3M−13%
- Meritage Homes Corp−$70.8M−54%
- Align Technology Inc−$80.0M−24%
- Salesforce−$108.2M−20%
- Marvell Technology Inc−$112.4M−44%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out, 42 splits read into the share counts.
Reported value by quarter
The total value of each quarter's 13F at that quarter end. It moves with prices as well as with buying and selling. Pick a quarter to see what the fund held then.
Every quarter's filing
| Quarter | Reported value | Filing | |
|---|---|---|---|
| Q2 2026 | Sep 1, 2026 (amended) | $875.01B+41% | SEC ↗ |
| Q1 2026 | May 15, 2026 | $618.47B−7% | SEC ↗ |
| Q4 2025 | Feb 17, 2026 | $665.87B+1% | SEC ↗ |
| Q3 2025 | Nov 14, 2025 | $657.15B+14% | SEC ↗ |
| Q2 2025 | Aug 14, 2025 | $575.96B+9% | SEC ↗ |
| Q1 2025 | May 15, 2025 | $527.32B−9% | SEC ↗ |
| Q4 2024 | Feb 14, 2025 | $577.87B+11% | SEC ↗ |
| Q3 2024 | Nov 14, 2024 | $518.30B+5% | SEC ↗ |
| Q2 2024 | Aug 14, 2024 | $494.03B−5% | SEC ↗ |
| Q1 2024 | May 15, 2024 | $518.50B+4% | SEC ↗ |
| Q4 2023 | Feb 14, 2024 | $500.32B+7% | SEC ↗ |
| Q3 2023 | Nov 14, 2023 | $466.50B−4% | SEC ↗ |
| Q2 2023 | Aug 14, 2023 | $483.74B+6% | SEC ↗ |
| Q1 2023 | May 15, 2023 | $454.69B+6% | SEC ↗ |
| Q4 2022 | Feb 14, 2023 | $428.09B−2% | SEC ↗ |
| Q3 2022 | Nov 14, 2022 | $438.75B+13% | SEC ↗ |
| Q2 2022 | Aug 15, 2022 | $389.71B−20% | SEC ↗ |
| Q1 2022 | May 16, 2022 | $484.45B−1% | SEC ↗ |
| Q4 2021 | Feb 14, 2022 | $489.37B+2% | SEC ↗ |
| Q3 2021 | Nov 15, 2021 (amended) | $481.37B+8% | SEC ↗ |
| Q2 2021 | Aug 16, 2021 | $446.72B+10% | SEC ↗ |
| Q1 2021 | May 21, 2021 (amended) | $407.63B+6% | SEC ↗ |
| Q4 2020 | Feb 16, 2021 | $384.60B+9% | SEC ↗ |
| Q3 2020 | Nov 16, 2020 | $352.52B+26% | SEC ↗ |
| Q2 2020 | Aug 14, 2020 | $280.43B+26% | SEC ↗ |
| Q1 2020 | May 15, 2020 | $222.48B−3% | SEC ↗ |
| Q4 2019 | Feb 14, 2020 | $230.47B+9% | SEC ↗ |
| Q3 2019 | Nov 14, 2019 | $212.04B−3% | SEC ↗ |
| Q2 2019 | Aug 14, 2019 (amended) | $218.11B+8% | SEC ↗ |
| Q1 2019 | May 15, 2019 | $201.07B+10% | SEC ↗ |
| Q4 2018 | Feb 14, 2019 (amended) | $182.73B−19% | SEC ↗ |
| Q3 2018 | Nov 13, 2018 (amended) | $224.25B+11% | SEC ↗ |
| Q2 2018 | Aug 14, 2018 (amended) | $202.27B+11% | SEC ↗ |
| Q1 2018 | May 14, 2018 (amended) | $181.79B+11% | SEC ↗ |
| Q4 2017 | Feb 9, 2018 | $164.31B+26% | SEC ↗ |
| Q3 2017 | Nov 9, 2017 | $130.27B+10% | SEC ↗ |
| Q2 2017 | Aug 11, 2017 | $118.02B+8% | SEC ↗ |
| Q1 2017 | May 12, 2017 | $109.43B+11% | SEC ↗ |
| Q4 2016 | Feb 10, 2017 | $99.01B−1% | SEC ↗ |
| Q3 2016 | Jan 31, 2017 (amended) | $99.54B+11% | SEC ↗ |
| Q2 2016 | Jan 31, 2017 (amended) | $89.73B+13% | SEC ↗ |
| Q1 2016 | Jan 31, 2017 (amended) | $79.25B | SEC ↗ |