SEC 13F Intelligence

Managers / Q4 2025 · view latest →

DV Trading LLC

CIK 0001721757 · 425 S FINANCIAL PLACE, SUITE 2800, CHICAGO, IL, 60605 · 312-663-7111

Reported Value
$3.6B
Q4 2025
Positions
1,100
Filings on Record
3
2019–present window
Filed
Feb 17, 2026
original filing

Summary

Dv Trading LLC reported $3.6B in U.S.-listed holdings across 1,100 positions for Q4 2025.

Its largest position, GOOG, represents 5.7% of the portfolio.

Portfolio Metrics

Top-10 Concentration
+27.3%
share of reported value
Largest Position
+5.7%
Alphabet

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’25: $3.6BQ4 ’25Q1 ’26: $4.2BQ1 ’26filingsflow.com

Portfolio Composition

By security type
ETP: 49.2%Common Stock: 48.9%ADR: 1.9%REIT: 0.0%MLP: 0.0%Other: 0.0%
  • ETP · 49.2% · $1.7B
  • Common Stock · 48.9% · $1.7B
  • ADR · 1.9% · $67M
  • REIT · 0.0% · $983,281
  • MLP · 0.0% · $624,704
  • Other · 0.0% · $615,775

Quarter-over-Quarter Changes full breakdown →

IssuerMoveShare ΔShares nowValue ΔValue now
QQQINVESCO QQQ TRNEW+1.04M1.04M+$640M$640M
NVDANVIDIA CORPORATIONNEW+2.45M2.45M+$456M$456M
GOOGALPHABET INCNEW+1.23M1.23M+$385M$385M
SPYSPDR S&P 500 ETF TRNEW+318.4K318.4K+$217M$217M
METAMETA PLATFORMS INCNEW+324.2K324.2K+$214M$214M
KRANESHARES TRUSTNEW+5.69M5.69M+$194M$194M
ISHARES TRNEW+2.40M2.40M+$194M$194M
AMZNAMAZON COM INCNEW+654.8K654.8K+$151M$151M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2025

335 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1GOOGALPHABET INCCAP STK CL C · CAP STK CL A5.72%$203M648.6K
2KRANESHARES TRUSTCSI CHI INTERNET5.46%$194M5.69M
3NVDANVIDIA CORPORATIONhistory →COM3.66%$130M696.6K
4SPYSPDR S&P 500 ETF TRhistory →TR UNIT3.17%$113M165.2K
5PBWINVESCO EXCHANGE TRADED FD TWILDERHIL CLAN · S&P500 EQL WGT2.59%$92M2.97M
6CGONCG ONCOLOGY INChistory →COM1.68%$60M1.44M
7METAMETA PLATFORMS INChistory →CL A1.66%$59M89.2K
8QQQINVESCO QQQ TRhistory →UNIT SER 11.20%$43M69.7K
9AMZNAMAZON COM INChistory →COM1.18%$42M182.1K
10PLTRPALANTIR TECHNOLOGIES INChistory →CL A1.00%$36M200.0K
11IWMISHARES TRIBOXX INV CP ETF · RUSSELL 2000 ETF · MSCI EAFE ETF · TIPS BD ETF · MSCI EMG MKT ETF · IBOXX HI YD ETF · CORE S&P500 ETF · CORE S&P MCP ETF · CORE US AGGBD ET · 20 YR TR BD ETF · RUS 1000 GRW ETF · CHINA LG-CAP ETF · MSCI UK ETF NEW · CORE S&P TTL STK · U.S. REAL ES ETF · CRE U S REIT ETF · RUSSELL 3000 ETF · RUS MID CAP ETF · CORE S&P SCP ETF · CORE MSCI INTL · S&P 500 GRWT ETF · 10+ YR INVST GRD0.97%$34M329.2K
12XLBSELECT SECTOR SPDR TRSTATE STREET MAT · STATE STREET TEC · STATE STREET CON · STATE STREET COM · STATE STREET IND · STATE STREET HEA0.23%$8M94.4K
13GDXVANECK ETF TRUSTGOLD MINERS ETF · SEMICONDUCTR ETF · JUNIOR GOLD MINE0.21%$8M68.1K
14MSFTMICROSOFT CORPCOM0.15%$5M10.8K
15EWAISHARES INCMSCI AUST ETF · MSCI JAPAN ETF · CORE MSCI EMKT · MSCI STH KOR ETF · MSCI ITALY ETF · MSCI SWITZERLAND0.14%$5M158.5K
16AAPLAPPLE INCCOM0.11%$4M14.8K
17DIASPDR DOW JONES INDL AVERAGEUT SER 10.10%$4M7.7K
18TSMTAIWAN SEMICONDUCTOR MFG LTDSPONSORED ADS0.10%$3M11.2K
19ADBEADOBE INCCOM0.09%$3M9.5K
20AMDADVANCED MICRO DEVICES INCCOM0.09%$3M15.4K
21COGTCOGENT BIOSCIENCES INCCOM0.09%$3M92.1K
22VOOVANGUARD INDEX FDSS&P 500 ETF SHS · REAL ESTATE ETF · SMALL CP ETF · TOTAL STK MKT · VALUE ETF0.08%$3M11.6K
23ORCLORACLE CORPCOM0.08%$3M14.8K
24FOXFOX CORPCL B COM · CL A COM0.08%$3M42.3K
25KRESPDR SERIES TRUSTSTATE STREET SPD0.08%$3M35.0K
26SOXLDIREXION SHS ETF TRDLY SCOND 3XBU · DAILY TSLA 2X SH0.07%$3M64.1K
27SLVISHARES SILVER TRISHARES0.07%$3M40.2K
28SOLENO THERAPEUTICS INCCOM0.07%$3M54.0K
29VEAVANGUARD TAX-MANAGED FDSVAN FTSE DEV MKT0.07%$2M37.2K
30CRWDCROWDSTRIKE HLDGS INCCL A0.06%$2M4.7K
31AKAMAKAMAI TECHNOLOGIES INCCOM0.06%$2M23.6K
32GLDMWORLD GOLD TRSPDR GLD MINIS0.06%$2M23.8K
33GLDSPDR GOLD TRGOLD SHS0.06%$2M5.1K
34LQDALIQUIDIA CORPORATIONCOM NEW0.06%$2M57.9K
35SCHFSCHWAB STRATEGIC TRINTL EQTY ETF · US LRG CAP ETF · US REIT ETF0.05%$2M78.8K
36CRMSALESFORCE INCCOM0.05%$2M6.9K
37PBR/APETROLEO BRASILEIRO SA PETROSP ADR NON VTG0.05%$2M154.5K
38VWOVANGUARD INTL EQUITY INDEX FFTSE EMR MKT ETF · ALLWRLD EX US · TT WRLD ST ETF · FTSE PACIFIC ETF · FTSE EUROPE ETF0.05%$2M24.3K
39ZZILLOW GROUP INCCL C CAP STK0.05%$2M25.2K
40AVGOBROADCOM INCCOM0.05%$2M4.9K
41BABAALIBABA GROUP HLDG LTDSPONSORED ADS0.05%$2M11.5K
42TSLATESLA INCCOM0.04%$2M3.3K
43MDYSPDR S&P MIDCAP 400 ETF TRUTSER1 S&PDCRP0.04%$1M2.3K
44QLDPROSHARES TRPSHS ULTRA QQQ · ULTRPRO S&P500 · ULTRAPRO QQQ · PSHS ULT S&P 5000.04%$1M19.7K
45BABOEING COCOM · DEP CONV PFD A0.04%$1M7.0K
46FEZSPDR INDEX SHS FDSPORTFOLIO EMG MK · EURO STOXX 500.04%$1M25.0K
47EXMOCEXXON MOBIL CORPCOM0.04%$1M11.0K
48OXYOCCIDENTAL PETE CORPCOM0.03%$1M30.1K
49IBITISHARES BITCOIN TRUST ETFSHS BEN INT0.03%$1M21.9K
50UPSUNITED PARCEL SERVICE INCCL B0.03%$1M10.1K
51BKNGBOOKING HOLDINGS INCCOM0.03%$985,381184
52SHOPSHOPIFY INCCL A SUB VTG SHS0.03%$965,8206.0K
53UWMCUWM HOLDINGS CORPORATIONCOM CL A0.03%$919,800210.0K
54HSYHERSHEY COCOM0.03%$909,9005.0K
55COPCONOCOPHILLIPSCOM0.02%$860,4639.2K
56CVXCHEVRON CORP NEWCOM0.02%$858,5265.6K
57KMBKIMBERLY-CLARK CORPCOM0.02%$837,3878.3K
58WEXWEX INCCOM0.02%$698,1204.7K
59USCIUNITED STS COMMODITY INDEX FCOMM IDX FND0.02%$659,6858.5K
60QXOQXO INCCOM NEW0.02%$652,00233.8K
61SPHBINVESCO EXCH TRADED FD TR IIS&P 500 HB ETF · S&P500 LOW VOL0.02%$648,1326.5K
62NFLXNETFLIX INCCOM0.02%$644,6946.9K
63PAAPLAINS ALL AMERN PIPELINE LUNIT LTD PARTN0.02%$596,86533.2K
64USOUNITED STS OIL FD LPUNITS0.01%$453,2756.6K
65COINCOINBASE GLOBAL INCCOM CL A0.01%$439,6161.9K
66GSGOLDMAN SACHS GROUP INCCOM0.01%$439,500500
67NKENIKE INCCL B0.01%$405,6426.4K
68MSTRSTRATEGY INCCL A NEW0.01%$399,0212.6K
69CARNIVAL PLCADS0.01%$397,47513.1K
70GMGENERAL MTRS COCOM0.01%$395,7034.9K
71NEMNEWMONT CORPCOM0.01%$389,4153.9K
72SILGLOBAL X FDSGLOBAL X SILVER · GLOBAL X URANIUM0.01%$377,7805.5K
73APPAPPLOVIN CORPCOM CL A0.01%$355,777528
74SMRNUSCALE PWR CORPCL A COM0.01%$355,53925.1K
75DANDANA INCCOM0.01%$346,49214.6K
76MAMASTERCARD INCORPORATEDCL A0.01%$342,528600
77ALBALBEMARLE CORPCOM0.01%$329,9802.3K
78DALDELTA AIR LINES INC DELCOM NEW0.01%$326,4584.7K
79ETHAISHARES ETHEREUM TRSHS0.01%$323,01414.4K
80UNHUNITEDHEALTH GROUP INCCOM0.01%$322,517977
81SVXYPROSHARES TR IISHT VIX ST TRM · ULTRA VIX SHORT0.01%$321,1406.2K
82UALUNITED AIRLS HLDGS INCCOM0.01%$318,3522.8K
83AMGNAMGEN INCCOM0.01%$302,107923
84FCXFREEPORT-MCMORAN INCCL B0.01%$297,6805.9K
85TGTTARGET CORPCOM0.01%$282,6932.9K
86ULUNILEVER PLCSPON ADR NEW0.01%$259,1154.0K
87VVISA INCCOM CL A0.01%$256,369731
88SBUXSTARBUCKS CORPCOM0.01%$252,6303.0K
89FWONALIBERTY MEDIA CORP DELCOM LBTY ONE S A0.01%$251,1582.8K
90ODFLOLD DOMINION FREIGHT LINE INCOM0.01%$234,1021.5K
91KOCOCA COLA COCOM0.01%$231,2623.3K
92RIORIO TINTO PLCSPONSORED ADR0.01%$222,0832.8K
93BBARRICK MNG CORPCOM SHS0.01%$215,2244.9K
94SKESKEENA RES LTD NEWCOM0.01%$213,5709.0K
95HDHOME DEPOT INCCOM0.01%$213,342620
96SNOWSNOWFLAKE INCCOM SHS0.01%$207,953948
97ETHEGRAYSCALE ETHEREUM TRUST ETFSHS0.01%$204,6517.8K
98VIRTVIRTU FINL INCCL A0.01%$199,9206.0K
99SPROTT ASSET MANAGEMENT LPPHYSICAL GOLD TR0.01%$198,1206.0K
100PANWPALO ALTO NETWORKS INCCOM0.01%$197,6471.1K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026REVEALED$4.2B462May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$3.6B1,100Feb 17, 202613F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.