13F filer · CIK 1423053 ↗
Citadel
You are looking at Q3 2025. See the latest, Q2 2026 →
Reported value
$657.15B
+14% on the quarter before
Positions
12,624
2,368 new · 2,040 sold out
Top 10
24.9%
of the value
Est. gain
+$4.44B
on stocks held all quarter
Est. return
+6.5%
on those stocks since Q2 2025
Positions as of Sep 30, 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, 36% of the reported value, each sized by its share, colored by what the fund did with it since Q2 2025. Striped tiles are options.
Largest buys
Since Q2 2025, 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.
- Invesco Qqq TrPUT~$4.95BAdded · 3.5% → 4.0%+8,237,400 underlying
- SPDR Gold TrCALL~$3.54BAdded · 0.7% → 1.2%+9,949,300 underlying
- Strategy IncPUT~$1.89BAdded · 0.6% → 0.7%+5,870,300 underlying
- AmazonCALL~$1.50BAdded · 0.7% → 0.8%+6,834,100 underlying
- Meta~$1.43BAdded · 0.0% → 0.2%+1,945,264 shares
- MicrosoftCALL~$1.35BAdded · 0.9% → 1.1%+2,612,800 underlying
- Unitedhealth Group IncCALL~$1.35BAdded · 0.4% → 0.6%+3,917,000 underlying
- Unitedhealth Group IncPUT~$1.32BAdded · 0.3% → 0.5%+3,836,600 underlying
- AppleCALL~$1.17BAdded · 1.0% → 1.3%+4,606,100 underlying
- AlphabetPUT~$1.08BAdded · 0.2% → 0.4%+4,433,500 underlying
Largest sells
Since Q2 2025, 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~$8.78BCut · 5.8% → 4.2%−13,174,100 underlying
- SPDR S&P 500 ETF TrCALL~$7.41BCut · 4.2% → 2.8%−11,118,200 underlying
- Invesco Qqq TrCALL~$2.49BCut · 3.0% → 2.5%−4,142,500 underlying
- Hess Corp~$1.24BSold out · 0.2% → 0.0%−8,915,548 shares
- NvidiaPUT~$1.10BCut · 1.9% → 1.9%−5,894,800 underlying
- Ishares TrCALL~$1.08BCut · 0.9% → 0.7%−4,455,800 underlying
- Eli LillyCALL~$1.08BCut · 0.5% → 0.3%−1,412,300 underlying
- AMDCALL~$838.0MCut · 0.6% → 0.5%−5,179,800 underlying
- NvidiaCALL~$798.1MCut · 2.2% → 2.2%−4,277,700 underlying
- PalantirPUT~$739.3MCut · 0.4% → 0.4%−4,053,000 underlying
Holdings
As of Sep 30, 2025. Changes are in shares against Jun 30, 2025, so a price move alone never reads as a buy or a sale.
| Holding | Value | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SPDR S&P 500 ETF TrPUTTR UNIT · shares −24% | 4.2% | $27.31B | ||||||||
| Invesco Qqq TrPUTUNIT SER 1 · shares +23% | 4.0% | $26.58B | ||||||||
| SPDR S&P 500 ETF TrCALLTR UNIT · shares −29% | 2.8% | $18.41B | ||||||||
| TeslaCALLCOM · shares +5.7% | 2.5% | $16.33B | ||||||||
| Invesco Qqq TrCALLUNIT SER 1 · shares −13% | 2.5% | $16.33B | ||||||||
| TeslaPUTCOM · shares +1.5% | 2.3% | $14.95B | ||||||||
| NvidiaCALLCOM · shares −5.2% | 2.2% | $14.50B | ||||||||
| NvidiaPUTCOM · shares −8.3% | 1.9% | $12.16B | ||||||||
| MetaCALLCL A · shares −2.7% | 1.3% | $8.63B | ||||||||
| AppleCALLCOM · shares +16% | 1.3% | $8.55B | ||||||||
| SPDR Gold TrCALLGOLD SHS · shares +79% | 1.2% | $8.03B | ||||||||
| MicrosoftCALLCOM · shares +24% | 1.1% | $6.95B | ||||||||
| Ishares TrPUTRUSSELL 2000 ETF · shares −7.5% | 1.0% | $6.88B | ||||||||
| ApplePUTCOM · shares −4.1% | 0.92% | $6.05B | ||||||||
| MetaPUTCL A · shares −5.9% | 0.87% | $5.74B | ||||||||
| AmazonCALLCOM · shares +38% | 0.83% | $5.48B | ||||||||
| Strategy IncPUTCL A NEW · shares +64% | 0.74% | $4.83B | ||||||||
| Ishares TrCALLRUSSELL 2000 ETF · shares −19% | 0.68% | $4.49B | ||||||||
| PalantirCALLCL A · shares +4.2% | 0.68% | $4.44B | ||||||||
| AlphabetCALLCAP STK CL A · shares −15% | 0.64% | $4.22B | ||||||||
| Strategy IncCALLCL A NEW · shares +6.5% | 0.62% | $4.09B | ||||||||
| MicrosoftPUTCOM · shares +8.7% | 0.60% | $3.93B | ||||||||
| AmazonPUTCOM · shares +8.7% | 0.59% | $3.88B | ||||||||
| Unitedhealth Group IncCALLCOM · shares +55% | 0.58% | $3.79B | ||||||||
| SPDR Gold TrPUTGOLD SHS · shares +26% | 0.54% | $3.57B | ||||||||
| Total · 12,624 positions | 100% | $657.15B |
What made money
From Q2 2025 to Q3 2025: 4,388 stocks held throughout, up $4.44B (+6.5%).
- Nvidia+$231.2M+18%
- Western Digital+$197.1M+88%
- Abbvie Inc+$142.6M+25%
- Argenx Se+$133.0M+34%
- Apple+$116.9M+24%
- Chipotle Mexican Grill Inc−$42.8M−30%
- Boston Scientific Corp−$52.9M−9%
- Kenvue Inc−$59.7M−22%
- Keurig Dr Pepper Inc−$95.9M−23%
- AppLovin1:5 split−$201.9M−59%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out, 36 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 ↗ |