BNP PARIBAS FINANCIAL MARKETS Q4 2025 Filing

Filed February 10, 2026

Portfolio Value

$212.7M

Holdings

4,902

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (4,902 positions)

#	Stock	Shares	Value	% Portfolio	Type
1	NVDANVIDIA Corp	34,685,781	$9.8M	4.61%	Put
2	NDQNASDAQ 100 Index	1,098,442	$8.4M	3.95%	Put
3	MSFTMicrosoft Corp	13,019,490	$7.9M	3.74%	Put
4	AAPLApple Inc	19,108,282	$6.8M	3.18%	Put
5	AMZNAmazon.com Inc	18,471,299	$6.3M	2.96%	Put
6	TSLATesla Inc	6,907,488	$5.9M	2.77%	Put
7	METAMeta Platforms Inc	4,900,523	$4.6M	2.17%	Put
8	SPYState Street SPDR S&P 500 ETF Trust	2,705,549	$4.3M	2.01%	Put
9	IWMiShares Russell 2000 ETF	5,072,531	$3.9M	1.84%	Put
10	GOOGLAlphabet Inc	8,343,952	$3.7M	1.72%	Put
11	JPMJPMorgan Chase & Co	7,948,034	$3.5M	1.67%	Put
12	AVGOBroadcom Inc	7,076,993	$3.5M	1.65%	Put
13	AMDAdvanced Micro Devices Inc	6,291,896	$3.1M	1.47%	Put
14	GOOGAlphabet Inc	5,886,929	$2.8M	1.33%	Put
15	MUMicron Technology Inc	4,981,163	$2.1M	1.01%	Put
16	XBIState Street SPDR S&P Biotech ETF	16,587,889	$2.0M	0.95%	Put
17	UNHUnitedHealth Group Inc	2,771,938	$1.7M	0.79%	Put
18	CSCOCisco Systems Inc	18,729,607	$1.5M	0.72%	Put
19	ORCLOracle Corp	4,039,806	$1.4M	0.68%	Put
20	BACBank of America Corp	9,685,168	$1.4M	0.66%	Put
21	LLYEli Lilly & Co	715,692	$1.3M	0.63%	Put
22	BRK/BBerkshire Hathaway Inc	1,794,493	$1.3M	0.59%	Put
23	GEGeneral Electric Co	3,472,860	$1.2M	0.56%	Put
24	SOXXiShares Semiconductor ETF	1,196,340	$1.2M	0.55%	Put
25	PLTRPalantir Technologies Inc	4,229,152	$1.1M	0.53%	Put
26	XOMExxon Mobil Corp	5,507,757	$1.1M	0.53%	Put
27	SMHVanEck Semiconductor ETF	941,634	$1.1M	0.51%	Put
28	TRVCCitigroup Inc	3,193,411	$1.1M	0.50%	Put
29	VVisa Inc	2,646,734	$1.0M	0.49%	Put
30	GQ9SPDR Gold Shares	1,418,415	$1.0M	0.48%	Put
31	AMATApplied Materials Inc	2,072,680	$997K	0.47%	Put
32	COSTCostco Wholesale Corp	1,103,789	$994K	0.47%	Put
33	NFLXNetflix Inc	8,435,974	$960K	0.45%	Put
34	ADIAnalog Devices Inc	3,014,997	$933K	0.44%	Put
35	LRCXLam Research Corp	3,560,130	$879K	0.41%	Put
36	DWDMorgan Stanley	2,921,280	$870K	0.41%	Put
37	ABBVAbbVie Inc	3,122,996	$849K	0.40%	Put
38	GEVGE Vernova Inc	1,191,990	$825K	0.39%	Put
39	XLFIState Street Consumer Staples Select Sector SPDR ETF	10,089,007	$791K	0.37%	Put
40	TXNTexas Instruments Inc	3,874,323	$774K	0.36%	Put
41	GSGoldman Sachs Group Inc	540,049	$746K	0.35%	Put
42	WFCWells Fargo & Co	4,427,045	$719K	0.34%	Put
43	QCOMQUALCOMM Inc	3,117,386	$699K	0.33%	Put
44	IBMInternational Business Machines Corp	1,964,553	$692K	0.33%	Put
45	AXPAMERICAN EXPRESS COMPANY	1,287,041	$690K	0.32%	Put
46	KLACKLA Corp	439,983	$668K	0.31%	Put
47	PFEPfizer Inc	16,635,120	$665K	0.31%	Put
48	INTCIntel Corp	13,240,766	$660K	0.31%	Put
49	PDDPDD Holdings Inc	5,153,892	$648K	0.30%	Put
50	CRMSalesforce Inc	1,976,819	$647K	0.30%	Put
51	CVXChevron Corp	2,849,580	$633K	0.30%	Put
52	MAMastercard Inc	1,046,551	$618K	0.29%	Put
53	WMTWalmart Inc	4,372,642	$617K	0.29%	Put
54	TMUST-Mobile US Inc	2,682,934	$604K	0.28%	Put
55	WDCWestern Digital Corp	1,419,150	$590K	0.28%	Put
56	ADBEAdobe Inc	1,408,594	$577K	0.27%	Put
57	HDHome Depot Inc	1,544,447	$573K	0.27%	Put
58	IVViShares Core S&P 500 ETF	824,931	$565K	0.27%
59	CATCaterpillar Inc	727,689	$549K	0.26%	Put
60	IGViShares Expanded Tech-Software Sector ETF	5,133,346	$542K	0.25%	Put
61	ABNBAirbnb Inc	3,467,748	$539K	0.25%	Put
62	LINLinde PLC	1,229,718	$535K	0.25%	Put
63	DASHDoorDash Inc	1,378,569	$529K	0.25%	Put
64	4I1Philip Morris International Inc	3,242,083	$529K	0.25%	Put
65	HONHoneywell International Inc	2,443,146	$492K	0.23%	Put
66	CMCSAComcast Corp	15,854,871	$486K	0.23%	Put
67	BKNGBooking Holdings Inc	78,026	$482K	0.23%	Put
68	JNJJohnson & Johnson	1,805,171	$481K	0.23%	Put
69	PGRProgressive Corp	2,064,890	$478K	0.22%	Put
70	FCXFreeport-McMoRan Inc	5,266,928	$474K	0.22%	Put
71	HYGiShares iBoxx $ High Yield Corporate Bond ETF	3,583,561	$473K	0.22%	Put
72	EEMiShares MSCI Emerging Markets ETF	1,859,602	$466K	0.22%	Put
73	BABAAlibaba Group Holding Ltd	1,172,116	$461K	0.22%	Put
74	UBERUber Technologies Inc	3,013,187	$460K	0.22%	Put
75	RSPInvesco S&P 500 Equal Weight ETF	2,261,284	$446K	0.21%	Put
76	PGProcter & Gamble Co	2,817,507	$445K	0.21%	Put
77	INTUIntuit Inc	647,874	$444K	0.21%	Put
78	TJXTJX Cos Inc	2,734,498	$436K	0.20%	Put
79	XLVState Street Health Care Select Sector SPDR ETF	2,505,713	$434K	0.20%	Put
80	XLEState Street Energy Select Sector SPDR ETF	5,628,590	$426K	0.20%	Put
81	EFAiShares MSCI EAFE ETF	1,879,890	$422K	0.20%	Put
82	NXPINXP Semiconductors NV	1,716,994	$422K	0.20%	Put
83	BACVerizon Communications Inc	9,347,679	$418K	0.20%	Put
84	APPAppLovin Corp	617,774	$417K	0.20%	Put
85	BXBlackstone Inc	1,506,109	$413K	0.19%	Put
86	CRWDCrowdstrike Holdings Inc	595,645	$410K	0.19%	Put
87	ABTAbbott Laboratories	2,964,174	$405K	0.19%	Put
88	AMGNAmgen Inc	1,121,398	$402K	0.19%	Put
89	XLFState Street Financial Select Sector SPDR ETF	1,354,805	$394K	0.19%	Put
90	COFCapital One Financial Corp	1,164,010	$393K	0.18%	Put
91	TMOThermo Fisher Scientific Inc	588,957	$390K	0.18%	Put
92	BMYBristol-Myers Squibb Co	6,897,306	$386K	0.18%	Put
93	PANWPalo Alto Networks Inc	1,796,328	$385K	0.18%	Put
94	DYHTarget Corp	2,624,354	$384K	0.18%	Put
95	SLViShares Silver Trust	2,955,942	$383K	0.18%	Put
96	TSMTaiwan Semiconductor Manufacturing Co Ltd	1,090,706	$382K	0.18%	Put
97	NOWServiceNow Inc	2,320,833	$380K	0.18%	Put
98	ISRGIntuitive Surgical Inc	627,538	$380K	0.18%	Put
99	DISWalt Disney Co	1,775,674	$374K	0.18%	Put
100	ACWIiShares MSCI ACWI ETF	2,620,110	$370K	0.17%

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