13F filer · CIK 923093 ↗
Tudor Investment
You are looking at Q1 2025. See the latest, Q2 2026 →
Reported value
$30.10B
+15% on the quarter before
Positions
2,974
877 new · 847 sold out
Top 10
39.8%
of the value
Est. gain
−$253.1M
on stocks held all quarter
Est. return
−5.0%
on those stocks since Q4 2024
Positions as of Mar 31, 2025, from Tudor Investment'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, 46% 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.
- Ishares Russell 2000 ETF - Us Etp~$608.8MAdded · 0.6% → 2.5%+3,051,619 shares
- Invesco Qqq Trust Series 1 - Us EtpPUT~$496.9MAdded · 0.5% → 2.0%+1,059,600 underlying
- Ishares China Large-Cap ETF - Us EtpPUT~$144.6MAdded · 0.0% → 0.5%+4,033,300 underlying
- Ishares Iboxx High Yield Corporate Bond ETF - Us EPUT~$142.9MNew · 0.0% → 0.5%+1,811,100 underlying
- Utilities Select Sector SPDR Fund - Us EtpPUT~$140.7MAdded · 0.8% → 1.2%+1,785,000 underlying
- Energy Select Sector SPDR Fund - Us EtpCALL~$128.9MAdded · 0.2% → 0.6%+1,379,100 underlying
- Financial Select Sector SPDR Fund - Us EtpCALL~$112.1MAdded · 0.2% → 0.6%+2,250,300 underlying
- Invesco Qqq Trust Series 1 - Us Etp~$107.3MAdded · 0.0% → 0.4%+228,753 shares
- Ishares China Large-Cap ETF - Us EtpCALL~$103.9MAdded · 0.1% → 0.4%+2,899,400 underlying
- Ishares Msci Brazil ETF - Us EtpCALL~$93.1MNew · 0.0% → 0.3%+3,600,000 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.
- Ishares Russell 2000 ETF - Us EtpPUT~$331.1MCut · 30.7% → 23.1%−1,659,500 underlying
- Energy Select Sector SPDR Fund - Us Etp~$157.4MCut · 0.7% → 0.2%−1,684,739 shares
- Ishares Bitcoin Trust ETF - Us Etp~$154.6MCut · 1.6% → 0.7%−3,303,026 shares
- Ishares Core S&P 500 ETF - Us Etp~$142.2MCut · 0.6% → 0.0%−252,989 shares
- Infinera Corp - Us~$108.4MSold out · 0.4% → 0.0%−15,915,186 shares
- Endeavor Group Holdings Inc - UsPUT~$101.7MSold out · 0.4% → 0.0%−3,250,000 underlying
- Ishares Msci Emerging Markets ETF - Us Etp~$70.9MCut · 0.3% → 0.0%−1,621,625 shares
- SPDR S&P 500 ETF Trust - Us Etp~$47.9MCut · 0.4% → 0.2%−85,715 shares
- Vaneck Semiconductor ETF - Us EtpCALL~$47.8MCut · 0.2% → 0.0%−226,000 underlying
- Cvs Health Corp - Us~$43.9MSold out · 0.2% → 0.0%−977,703 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 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Ishares Russell 2000 ETF - Us EtpPUTETF Option · shares −4.6% | 23.1% | $6.94B | — | ||||||||
| Ishares Russell 2000 ETF - Us EtpCALLETF Option · shares +0.7% | 6.7% | $2.02B | — | ||||||||
| Ishares Russell 2000 ETF - Us EtpExchange-Traded Fund · shares +445% · price −9.7% | 2.5% | $745.5M | −$14.7M | ||||||||
| Invesco Qqq Trust Series 1 - Us EtpPUTETF Option · shares +442% | 2.0% | $609.2M | — | ||||||||
| Energy Select Sector SPDR Fund - Us EtpPUTETF Option · shares +6.8% | 1.4% | $424.1M | — | ||||||||
| Utilities Select Sector SPDR Fund - Us EtpPUTETF Option · shares +62% | 1.2% | $366.2M | — | ||||||||
| SPDR S&P Regional Banking ETF - Us EtpPUTETF Option · shares +61% | 0.75% | $225.8M | — | ||||||||
| Ishares Bitcoin Trust ETF - Us EtpExchange-Traded Fund · shares −41% · price −11.8% | 0.74% | $222.1M | −$29.6M | ||||||||
| Financial Select Sector SPDR Fund - Us EtpPUTETF Option · shares +46% | 0.73% | $218.8M | — | ||||||||
| Energy Select Sector SPDR Fund - Us EtpCALLETF Option · shares +198% | 0.64% | $194.1M | — | ||||||||
| Boeing Co/The - UsPUTEquity Option · shares +42% | 0.60% | $181.7M | — | ||||||||
| Financial Select Sector SPDR Fund - Us EtpCALLETF Option · shares +183% | 0.58% | $173.2M | — | ||||||||
| Ishares Msci Emerging Markets ETF - Us EtpPUTETF Option · shares −18% | 0.55% | $166.7M | — | ||||||||
| Kellanova - UsEquity · shares +11% · price +1.9% | 0.53% | $159.9M | +$2.7M | ||||||||
| Ishares China Large-Cap ETF - Us EtpPUTETF Option · shares +1,008% | 0.53% | $158.9M | — | ||||||||
| Frontier Communications Parent Inc - UsEquity · shares +27% · price +3.3% | 0.50% | $150.8M | +$3.8M | ||||||||
| Ishares Msci Emerging Markets ETF - Us EtpCALLETF Option · shares +182% | 0.48% | $143.1M | — | ||||||||
| Ishares Iboxx High Yield Corporate Bond ETF - Us EPUTETF Option · shares New | 0.47% | $142.9M | — | ||||||||
| Spirit Aerosystems Holdings Inc - UsEquity · shares +9.2% · price +1.1% | 0.45% | $135.8M | +$1.4M | ||||||||
| Ishares China Large-Cap ETF - Us EtpCALLETF Option · shares +414% | 0.43% | $129.0M | — | ||||||||
| Invesco Qqq Trust Series 1 - Us EtpCALLETF Option · shares +83% | 0.39% | $118.6M | — | ||||||||
| Invesco Qqq Trust Series 1 - Us EtpExchange-Traded Fund · shares +1,132% · price −8.3% | 0.39% | $116.7M | −$855,001 | ||||||||
| MicrosoftEquity · shares +33% · price −10.9% | 0.38% | $114.2M | −$10.5M | ||||||||
| Walmart Inc - UsEquity · shares +375% · price −2.8% | 0.36% | $108.1M | −$664,400 | ||||||||
| BroadcomEquity · shares +343% · price −27.8% | 0.33% | $98.3M | −$8.5M | ||||||||
| Total · 2,974 positions | 100% | $30.10B | −$253.1M |
Price is a stock's reported value over its shares at the quarter end. The estimated gain is the shares held at both quarter ends times the change in that price: shares bought or sold during the quarter add nothing, options are left out, and a stock split is read into the earlier share count and price.
What made money
From Q4 2024 to Q1 2025: 946 stocks held throughout, down $253.1M (−5.0%).
- Hess Corp - Us+$11.5M+20%
- Alibaba+$10.2M+56%
- SPDR Gold Shares - Us Etp+$6.9M+19%
- Energy Select Sector SPDR Fund - Us Etp+$4.5M+9%
- Intel+$4.1M+13%
- Amazon−$11.3M−13%
- Ishares Russell 2000 ETF - Us Etp−$14.7M−10%
- Nvidia−$17.0M−19%
- Tesla−$18.4M−36%
- Ishares Bitcoin Trust ETF - Us Etp−$29.6M−12%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out, 6 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 | Aug 14, 2026 | $71.91B+33% | SEC ↗ |
| Q1 2026 | May 15, 2026 | $53.87B−0% | SEC ↗ |
| Q4 2025 | Feb 17, 2026 | $54.03B−7% | SEC ↗ |
| Q3 2025 | Dec 9, 2025 (amended) | $57.98B+26% | SEC ↗ |
| Q2 2025 | Aug 14, 2025 | $45.92B+53% | SEC ↗ |
| Q1 2025 | May 15, 2025 | $30.10B+15% | SEC ↗ |
| Q4 2024 | Feb 14, 2025 | $26.28B−4% | SEC ↗ |
| Q3 2024 | Nov 14, 2024 | $27.48B+41% | SEC ↗ |
| Q2 2024 | Aug 14, 2024 | $19.52B+24% | SEC ↗ |
| Q1 2024 | May 15, 2024 | $15.72B+27% | SEC ↗ |
| Q4 2023 | Feb 14, 2024 | $12.42B+25% | SEC ↗ |
| Q3 2023 | Nov 15, 2023 | $9.97B+19% | SEC ↗ |
| Q2 2023 | Aug 14, 2023 | $8.38B+30% | SEC ↗ |
| Q1 2023 | May 15, 2023 | $6.46B+28% | SEC ↗ |
| Q4 2022 | Feb 14, 2023 | $5.06B+9% | SEC ↗ |
| Q3 2022 | Nov 14, 2022 | $4.63B+22% | SEC ↗ |
| Q2 2022 | Aug 15, 2022 | $3.81B−11% | SEC ↗ |
| Q1 2022 | May 16, 2022 | $4.27B−29% | SEC ↗ |
| Q4 2021 | Feb 14, 2022 | $5.98B−3% | SEC ↗ |
| Q3 2021 | Nov 17, 2021 (amended) | $6.16B+16% | SEC ↗ |
| Q2 2021 | Aug 16, 2021 | $5.29B+6% | SEC ↗ |
| Q1 2021 | May 17, 2021 | $4.99B+41% | SEC ↗ |
| Q4 2020 | Feb 16, 2021 | $3.54B+54% | SEC ↗ |
| Q3 2020 | Nov 16, 2020 | $2.30B+14% | SEC ↗ |
| Q2 2020 | Aug 14, 2020 | $2.02B+81% | SEC ↗ |
| Q1 2020 | May 15, 2020 | $1.12B−50% | SEC ↗ |
| Q4 2019 | Feb 14, 2020 | $2.23B−23% | SEC ↗ |
| Q3 2019 | Nov 14, 2019 | $2.91B−17% | SEC ↗ |
| Q2 2019 | Aug 14, 2019 | $3.51B+45% | SEC ↗ |
| Q1 2019 | May 15, 2019 | $2.42B−52% | SEC ↗ |
| Q4 2018 | Feb 14, 2019 | $5.06B+27% | SEC ↗ |
| Q3 2018 | Nov 14, 2018 | $3.98B+38% | SEC ↗ |
| Q2 2018 | Aug 14, 2018 | $2.87B−7% | SEC ↗ |
| Q1 2018 | May 15, 2018 | $3.09B−22% | SEC ↗ |
| Q4 2017 | Feb 14, 2018 | $3.94B+0% | SEC ↗ |
| Q3 2017 | Nov 14, 2017 | $3.92B+19% | SEC ↗ |
| Q2 2017 | Aug 14, 2017 | $3.28B+1% | SEC ↗ |
| Q1 2017 | May 15, 2017 | $3.25B−16% | SEC ↗ |
| Q4 2016 | Feb 14, 2017 | $3.88B−9% | SEC ↗ |
| Q3 2016 | Nov 14, 2016 | $4.27B−10% | SEC ↗ |
| Q2 2016 | Aug 15, 2016 | $4.72B+21% | SEC ↗ |
| Q1 2016 | May 16, 2016 | $3.91B | SEC ↗ |