Managers / Q1 2025 · view latest →
Juniper Hill Capital Management LP
CIK 0001803460 · 1010 EL CAMINO REAL, SUITE 200, MENLO PARK, CA, 94025 · 650.530.0679
Summary
Juniper Hill Capital Management LP reported $401M in U.S.-listed holdings across 4 positions for Q1 2025.
The portfolio is heavily concentrated: SPY alone accounts for 48.2% of reported value.
Compared with Q4 2024, the fund opened 0 new positions and exited 2.
Portfolio Metrics
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
Portfolio Composition
- ETP · 100.0% · $401M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2024 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| NVDANVIDIA CORPORATION | SOLD OUT | −157.8K | 0 | −$21M | $0 |
| IEIISHARES TR | SOLD OUT | −153.3K | 0 | −$18M | $0 |
| SPYSPDR S&P 500 ETF TR | HELD | +0 | 345.6K | −$9M | $193M |
| QQQINVESCO QQQ TR | HELD | +0 | 136.5K | −$6M | $64M |
| IEFISHARES TR | HELD | +0 | 744.2K | +$2M | $71M |
| AGGISHARES TR | HELD | +0 | 736.5K | +$1M | $73M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | SPYSPDR S&P 500 ETF TRhistory → | TR UNIT | 48.19% | $193M | 345.6K |
| 2 | AGGISHARES TR | CORE US AGGBD ET · 7-10 YR TRSY BD | 35.85% | $144M | 1.48M |
| 3 | QQQINVESCO QQQ TRhistory → | UNIT SER 1 | 15.96% | $64M | 136.5K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $0 | 1 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $419M | 4 | Feb 3, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $423M | 4 | Oct 23, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $410M | 4 | Aug 6, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $401M | 4 | May 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $451M | 6 | Feb 4, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $436M | 6 | Oct 28, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $400M | 5 | Aug 7, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $375M | 4 | May 6, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $362M | 4 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $307M | 4 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $300M | 4 | Aug 11, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $258M | 5 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $316M | 5 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $193M | 4 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $228M | 5 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $347M | 8 | May 16, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $281M | 4 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $448M | 8 | Nov 15, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $298M | 8 | Aug 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $329M | 6 | May 17, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $110M | 3 | Feb 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $318M | 4 | Nov 16, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $131M | 5 | Aug 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $108M | 2 | May 15, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $107M | 2 | Feb 14, 2020 | 13F-HR | changes · 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 ↗.