MAI Capital Management Q4 2025 Filing

Filed February 13, 2026

Portfolio Value

$17.4B

Holdings

4,150

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (4,150 positions)

#	Stock	Shares	Value	% Portfolio	Type
1	IVVISHARES TR	1,730,714	$1.2B	6.82%
2	SPYSPDR S&P 500 ETF TR	952,329	$648.0M	3.73%	Put
3	AAPLAPPLE INC	2,194,903	$596.0M	3.43%	Put
4	MSFTMICROSOFT CORP	1,016,059	$490.0M	2.82%	Put
5	IJHISHARES TR	5,429,206	$358.0M	2.06%
6	NVDANVIDIA CORPORATION	1,528,648	$284.0M	1.63%	Call
7	VEAVANGUARD TAX-MANAGED FDS	4,455,575	$278.0M	1.60%
8	GOOGLALPHABET INC	841,078	$261.0M	1.50%	Put
9	AMZNAMAZON COM INC	1,126,777	$259.0M	1.49%	Put
10	NDQINVESCO QQQ TR	407,317	$250.0M	1.44%	Call
11	IJRISHARES TR	2,031,625	$244.0M	1.40%
12	VIGVANGUARD SPECIALIZED FUNDS	996,705	$219.0M	1.26%
13	IVEISHARES TR	1,017,802	$215.0M	1.24%
14	AVGOBROADCOM INC	611,393	$210.0M	1.21%	Put
15	AQLTISHARES TR	2,321,693	$207.0M	1.19%
16	GOOGALPHABET INC	643,694	$201.0M	1.16%	Put
17	VWOVANGUARD INTL EQUITY INDEX F	3,577,472	$192.0M	1.10%
18	IWFISHARES TR	393,199	$186.0M	1.07%
19	MDYSPDR S&P MIDCAP 400 ETF TR	265,202	$159.0M	0.91%
20	IEMGISHARES INC	2,262,898	$152.0M	0.87%
21	JPMJPMORGAN CHASE & CO.	464,146	$149.0M	0.86%	Call
22	IVWISHARES TR	1,113,823	$137.0M	0.79%
23	SGOVISHARES TR	1,356,435	$136.0M	0.78%
24	VTIVANGUARD INDEX FDS	403,542	$135.0M	0.78%
25	BRK/BBERKSHIRE HATHAWAY INC DEL	263,656	$132.0M	0.76%	Call
26	VVISA INC	378,586	$132.0M	0.76%	Call
27	ABBVABBVIE INC	576,067	$131.0M	0.75%
28	JNJJOHNSON & JOHNSON	626,313	$129.0M	0.74%	Call
29	METAMETA PLATFORMS INC	188,575	$123.0M	0.71%	Call
30	RSPINVESCO EXCHANGE TRADED FD T	633,714	$121.0M	0.70%
31	IWMISHARES TR	495,597	$121.0M	0.70%	Call
32	SDYSPDR SERIES TRUST	791,750	$110.0M	0.63%
33	VCSHVANGUARD SCOTTSDALE FDS	1,362,424	$108.0M	0.62%
34	VGSHVANGUARD SCOTTSDALE FDS	1,765,573	$103.0M	0.59%
35	RTXRTX CORPORATION	564,972	$102.0M	0.59%	Put
36	LLYELI LILLY & CO	93,522	$99.0M	0.57%	Put
37	COSTCOSTCO WHSL CORP NEW	106,385	$91.0M	0.52%	Put
38	VOOVANGUARD INDEX FDS	143,912	$90.0M	0.52%
39	SHWSHERWIN WILLIAMS CO	273,107	$87.0M	0.50%	Put
40	PGPROCTER AND GAMBLE CO	599,900	$85.0M	0.49%	Call
41	IGSBISHARES TR	1,572,299	$83.0M	0.48%
42	HDHOME DEPOT INC	243,243	$82.0M	0.47%	Put
43	CSCOCISCO SYS INC	1,041,903	$80.0M	0.46%	Call
44	TSMTAIWAN SEMICONDUCTOR MFG LTD	257,658	$77.0M	0.44%	Call
45	IWDISHARES TR	362,100	$76.0M	0.44%
46	PULSPGIM ETF TR	1,494,138	$74.0M	0.43%
47	SCHGSCHWAB STRATEGIC TR	2,242,182	$73.0M	0.42%
48	ORCLORACLE CORP	364,337	$70.0M	0.40%	Put
49	IJKISHARES TR	723,583	$70.0M	0.40%
50	WMTWALMART INC	625,051	$69.0M	0.40%	Call
51	USMVISHARES TR	712,694	$67.0M	0.39%
52	XOMEXXON MOBIL CORP	556,759	$66.0M	0.38%	Call
53	BKNGBOOKING HOLDINGS INC	12,244	$65.0M	0.37%
54	UNHUNITEDHEALTH GROUP INC	195,329	$64.0M	0.37%	Call
55	QCOMQUALCOMM INC	371,797	$62.0M	0.36%	Put
56	SCHDSCHWAB STRATEGIC TR	2,246,369	$61.0M	0.35%
57	IAU*ISHARES GOLD TR	747,707	$60.0M	0.35%
58	ABTABBOTT LABS	486,690	$60.0M	0.35%
59	BACBANK AMERICA CORP	1,082,459	$59.0M	0.34%
60	XLKSELECT SECTOR SPDR TR	410,714	$59.0M	0.34%
61	MAMASTERCARD INCORPORATED	102,917	$58.0M	0.33%	Call
62	BSCRINVESCO EXCH TRD SLF IDX FD	2,907,934	$57.0M	0.33%
63	VGTVANGUARD WORLD FD	75,182	$56.0M	0.32%
64	IEFISHARES TR	586,920	$56.0M	0.32%
65	VUGVANGUARD INDEX FDS	114,772	$55.0M	0.32%
66	VTVVANGUARD INDEX FDS	280,648	$53.0M	0.30%
67	BSCQINVESCO EXCH TRD SLF IDX FD	2,750,105	$53.0M	0.30%
68	IGIBISHARES TR	981,677	$52.0M	0.30%
69	SLQDISHARES TR	1,030,751	$52.0M	0.30%
70	VBVANGUARD INDEX FDS	204,235	$52.0M	0.30%
71	QLTAISHARES TR	1,096,494	$52.0M	0.30%
72	MCDMCDONALDS CORP	168,211	$51.0M	0.29%	Call
73	TSLATESLA INC	115,283	$51.0M	0.29%	Put
74	VHTVANGUARD WORLD FD	178,934	$51.0M	0.29%
75	PEPPEPSICO INC	342,205	$49.0M	0.28%
76	SPABSPDR SERIES TRUST	1,931,743	$49.0M	0.28%
77	VONEVANGUARD SCOTTSDALE FDS	156,682	$48.0M	0.28%
78	CBCHUBB LIMITED	152,219	$47.0M	0.27%
79	AGGISHARES TR	471,988	$47.0M	0.27%
80	NFLXNETFLIX INC	496,055	$46.0M	0.26%	Call
81	IWNISHARES TR	258,426	$46.0M	0.26%
82	SCHFSCHWAB STRATEGIC TR	1,901,550	$45.0M	0.26%
83	CVXCHEVRON CORP NEW	285,487	$43.0M	0.25%	Call
84	IJJISHARES TR	329,790	$43.0M	0.25%
85	BSCSINVESCO EXCH TRD SLF IDX FD	2,050,907	$42.0M	0.24%
86	IWRISHARES TR	439,833	$42.0M	0.24%
87	BACVERIZON COMMUNICATIONS INC	1,019,759	$41.0M	0.24%
88	ETNEATON CORP PLC	130,572	$41.0M	0.24%	Call
89	JPSTJ P MORGAN EXCHANGE TRADED F	805,176	$40.0M	0.23%
90	DFAIDIMENSIONAL ETF TRUST	1,054,858	$40.0M	0.23%
91	SYKSTRYKER CORPORATION	111,442	$39.0M	0.22%
92	BSCTINVESCO EXCH TRD SLF IDX FD	2,067,834	$38.0M	0.22%
93	KOCOCA COLA CO	556,194	$38.0M	0.22%
94	TLHISHARES TR	377,893	$38.0M	0.22%
95	EFAISHARES TR	398,489	$38.0M	0.22%
96	IGFISHARES TR	627,890	$38.0M	0.22%
97	AXPAMERICAN EXPRESS CO	101,378	$37.0M	0.21%	Call
98	VOVANGUARD INDEX FDS	127,536	$37.0M	0.21%
99	JEPIJ P MORGAN EXCHANGE TRADED F	647,439	$37.0M	0.21%
100	GEGE AEROSPACE	119,074	$36.0M	0.21%	Call

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