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Eisler Capital Management Ltd
The positions Eisler Capital Management Ltd reported on its Form 13F for Q3 2025, the quarter ending 30 Sept 2025, filed on 13 Nov 2025. Every figure below is the filing’s own: US-listed long equity, valued at the quarter end, with the change measured against the same manager’s previous filing.
Reported book
$22.6bn
+$6.1bn on Q2 2025
Positions
820
14 new, 100 sold out
Top ten weight
48%
Spread across the book
Quarter
Q3 2025
Filed 13 Nov 2025
Read the Q3 2025 filing on sec.gov CIK 0002055810 · Multistrategy · United Kingdom
Opened this quarter
A new position is the clearest thing a filing says. Somebody argued for it recently, and it is the easiest question to be ready for.
- iShares TR$178m · 0.8%
- iShares TR$53m · 0.2%
- iShares TR$53m · 0.2%
- iShares Inc$48m · 0.2%
- Select Sector SPDR TR$23m · 0.1%
- iShares TR$21m · 0.1%
- Constellation Energy Corp (CEG)$16m · 0.1%
- iShares TR$16m · 0.1%
- iShares TR$16m · 0.1%
- United STS Oil FD LP$15m · 0.1%
- United STS Oil FD LP$15m · 0.1%
- Coinbase Global Inc (COIN)$14m · 0.1%
- and 2 more, in the table below.
Sold out of this quarter
Exits are valued at what the position was worth in the previous filing, because by this one it is gone.
- Vanguard Index FDS$97m held before
- Hess Corp$46m held before
- Canadian Natl Ry Co$24m held before
- Synchrony Financial$23m held before
- Old Dominion Freight Line In$22m held before
- Grainger W W Inc$21m held before
- Equifax Inc (EFX)$20m held before
- Occidental Pete Corp$20m held before
- Skechers U S A Inc$18m held before
- Keycorp$17m held before
- Hubbell Inc (HUBB)$17m held before
- Standardaero Inc (SARO)$16m held before
- and 88 more.
Every reported position, Q3 2025
200 positions, sorted by weight · page 1 of 2
| Position | Weight ↑ | Value | Shares | Change on the quarter | Action |
|---|---|---|---|---|---|
Ark Etf Tr INNOVATION ETF PUT · CUSIP 00214Q104 | 0.0% | $11m | 131,300 | +$3.1m +15,000 shares | Added |
NXP Semiconductors N V (NXPI) COM PUT · CUSIP N6596X109 | 0.1% | $11m | 50,400 | +$400k 0 shares | Held |
Snowflake Inc (SNOW) COM SHS PUT · CUSIP 833445109 | 0.1% | $12m | 51,300 | No earlier filing | New |
Thermo Fisher Scientific Inc (TMO) COM PUT · CUSIP 883556102 | 0.1% | $12m | 24,800 | +$1.7m 0 shares | Held |
Stellantis N.v (STLA) SHS CALL · CUSIP N82405106 | 0.1% | $12m | 1,283,674 | -$1.0m 0 shares | Held |
Lowes Cos Inc COM PUT · CUSIP 548661107 | 0.1% | $12m | 44,000 | -$500k -11,800 shares | Trimmed |
PayPal HLDGS Inc COM · CUSIP 70450Y103 | 0.1% | $12m | 180,833 | -$19m -237,591 shares | Trimmed |
Salesforce Inc (CRM) COM · CUSIP 79466L302 | 0.1% | $12m | 51,418 | +$8.0m +36,085 shares | Added |
General MTRS Co COM CALL · CUSIP 37045V100 | 0.1% | $12m | 199,900 | -$1.1m -70,700 shares | Trimmed |
Cisco Sys Inc COM CALL · CUSIP 17275R102 | 0.1% | $12m | 180,600 | -$7.3m -100,000 shares | Trimmed |
Freeport-mcmoran Inc (FCX) CL B CALL · CUSIP 35671D857 | 0.1% | $12m | 313,900 | -$3.0m -37,800 shares | Trimmed |
RTX Corporation (RTX) COM PUT · CUSIP 75513E101 | 0.1% | $12m | 77,900 | -$2.6m -24,200 shares | Trimmed |
Capital One Finl Corp COM CALL · CUSIP 14040H105 | 0.1% | $12m | 55,600 | +$1.5m +4,300 shares | Added |
United Parcel Service Inc (UPS) CL B PUT · CUSIP 911312106 | 0.1% | $13m | 152,100 | -$6.2m -35,300 shares | Trimmed |
Lockheed Martin Corp (LMT) COM CALL · CUSIP 539830109 | 0.1% | $13m | 25,900 | -$100k -2,000 shares | Trimmed |
Stellantis N.v (STLA) SHS PUT · CUSIP N82405106 | 0.1% | $13m | 1,391,174 | -$7.4m -625,000 shares | Trimmed |
Amgen Inc (AMGN) COM CALL · CUSIP 031162100 | 0.1% | $13m | 45,500 | +$4.3m +15,000 shares | Added |
Texas Instrs Inc COM CALL · CUSIP 882508104 | 0.1% | $13m | 70,700 | -$3.0m -6,600 shares | Trimmed |
SPDR Gold TR GOLD SHS PUT · CUSIP 78463V107 | 0.1% | $13m | 37,500 | -$4.3m -20,200 shares | Trimmed |
Cummins Inc (CMI) COM PUT · CUSIP 231021106 | 0.1% | $13m | 31,600 | +$9.7m +20,400 shares | Added |
Johnson & Johnson (JNJ) COM CALL · CUSIP 478160104 | 0.1% | $14m | 75,700 | -$2.3m -28,100 shares | Trimmed |
Lam Research Corp (LRCX) COM NEW CALL · CUSIP 512807306 | 0.1% | $14m | 103,400 | -$2.0m -56,900 shares | Trimmed |
Goldman Sachs Group Inc COM CALL · CUSIP 38141G104 | 0.1% | $14m | 17,000 | +$2.0m +500 shares | Added |
Disney Walt Co COM CALL · CUSIP 254687106 | 0.1% | $14m | 119,500 | -$3.7m -21,100 shares | Trimmed |
Fedex Corp (FDX) COM CALL · CUSIP 31428X106 | 0.1% | $14m | 59,600 | -$3.2m -15,000 shares | Trimmed |
Blackrock Inc (BLK) COM PUT · CUSIP 09290D101 | 0.1% | $14m | 12,200 | +$1.0m 0 shares | Held |
BJS WHSL Club HLDGS Inc COM PUT · CUSIP 05550J101 | 0.1% | $14m | 150,000 | No earlier filing | New |
Microsoft Corp (MSFT) COM · CUSIP 594918104 | 0.1% | $14m | 27,714 | +$14m +27,689 shares | Added |
Coinbase Global Inc (COIN) COM CL A PUT · CUSIP 19260Q107 | 0.1% | $14m | 42,800 | No earlier filing | New |
Verizon Communications Inc (VZ) COM CALL · CUSIP 92343V104 | 0.1% | $15m | 332,600 | -$100k -4,100 shares | Trimmed |
Target Corp COM CALL · CUSIP 87612E106 | 0.1% | $15m | 162,900 | +$4.0m +55,500 shares | Added |
United STS Oil FD LP UNITS CALL · CUSIP 91232N207 | 0.1% | $15m | 200,000 | No earlier filing | New |
United STS Oil FD LP UNITS PUT · CUSIP 91232N207 | 0.1% | $15m | 200,000 | No earlier filing | New |
Albemarle Corp COM PUT · CUSIP 012653101 | 0.1% | $15m | 184,000 | +$7.9m +75,000 shares | Added |
Adobe Inc (ADBE) COM · CUSIP 00724F101 | 0.1% | $15m | 41,034 | +$13m +35,778 shares | Added |
Visa Inc (V) COM CL A CALL · CUSIP 92826C839 | 0.1% | $15m | 45,100 | -$900k -600 shares | Trimmed |
United Parcel Service Inc (UPS) CL B CALL · CUSIP 911312106 | 0.1% | $16m | 186,800 | +$900k +41,900 shares | Added |
CVS Health Corp (CVS) COM CALL · CUSIP 126650100 | 0.1% | $16m | 206,700 | +$5.6m +62,000 shares | Added |
iShares TR MSCI INDIA ETF CALL · CUSIP 46429B598 | 0.1% | $16m | 300,000 | No earlier filing | New |
iShares TR MSCI INDIA ETF PUT · CUSIP 46429B598 | 0.1% | $16m | 300,000 | No earlier filing | New |
Procter and Gamble Co COM · CUSIP 742718109 | 0.1% | $16m | 103,260 | +$3.4m +24,792 shares | Added |
Deere & Co (DE) COM PUT · CUSIP 244199105 | 0.1% | $16m | 32,300 | -$1.1m -1,100 shares | Trimmed |
Amazon Com Inc (AMZN) COM · CUSIP 023135106 | 0.1% | $16m | 73,145 | +$12m +53,343 shares | Added |
Regeneron Pharmaceuticals (REGN) COM PUT · CUSIP 75886F107 | 0.1% | $16m | 28,100 | +$1.4m 0 shares | Held |
Constellation Energy Corp (CEG) COM PUT · CUSIP 21037T109 | 0.1% | $16m | 49,800 | No earlier filing | New |
Pepsico Inc (PEP) COM CALL · CUSIP 713448108 | 0.1% | $17m | 117,400 | +$4.7m +27,700 shares | Added |
Altria Group Inc (MO) COM PUT · CUSIP 02209S103 | 0.1% | $17m | 253,900 | +$900k -15,300 shares | Trimmed |
US Bancorp Del COM NEW PUT · CUSIP 902973304 | 0.1% | $17m | 342,900 | +$6.1m +107,600 shares | Added |
Wheaton Precious Metals Corp (WPM) COM CALL · CUSIP 962879102 | 0.1% | $17m | 150,000 | +$3.2m 0 shares | Held |
Salesforce Inc (CRM) COM CALL · CUSIP 79466L302 | 0.1% | $17m | 72,000 | -$4.6m -7,500 shares | Trimmed |
Intuitive Surgical Inc (ISRG) COM NEW PUT · CUSIP 46120E602 | 0.1% | $17m | 39,400 | +$200k +8,000 shares | Added |
Analog Devices Inc (ADI) COM PUT · CUSIP 032654105 | 0.1% | $18m | 70,600 | -$4.3m -21,300 shares | Trimmed |
Linde PLC (LIN) SHS PUT · CUSIP G54950103 | 0.1% | $18m | 36,400 | +$3.4m +6,300 shares | Added |
Union Pac Corp COM PUT · CUSIP 907818108 | 0.1% | $18m | 76,600 | +$5.2m +22,500 shares | Added |
Taiwan Semiconductor MFG LTD SPONSORED ADS CALL · CUSIP 874039100 | 0.1% | $18m | 66,100 | +$2.7m -1,700 shares | Trimmed |
Wells Fargo Co New COM CALL · CUSIP 949746101 | 0.1% | $18m | 214,800 | +$6.1m +64,400 shares | Added |
Select Sector SPDR TR ENERGY PUT · CUSIP 81369Y506 | 0.1% | $18m | 203,900 | +$3.3m +26,500 shares | Added |
Taiwan Semiconductor MFG LTD SPONSORED ADS PUT · CUSIP 874039100 | 0.1% | $19m | 67,700 | -$8.5m -51,800 shares | Trimmed |
Mastercard Incorporated (MA) CL A CALL · CUSIP 57636Q104 | 0.1% | $19m | 33,500 | -$4.5m -8,400 shares | Trimmed |
Newmont Corp COM PUT · CUSIP 651639106 | 0.1% | $19m | 225,000 | +$6.0m 0 shares | Held |
iShares Inc MSCI BRAZIL ETF · CUSIP 464286400 | 0.1% | $19m | 625,155 | +$11m +340,861 shares | Added |
American Express Co (AXP) COM PUT · CUSIP 025816109 | 0.1% | $20m | 57,800 | +$2.0m +2,100 shares | Added |
Applied Matls Inc COM CALL · CUSIP 038222105 | 0.1% | $20m | 97,900 | -$2.8m -27,100 shares | Trimmed |
Oracle Corp COM CALL · CUSIP 68389X105 | 0.1% | $20m | 72,500 | -$200k -20,800 shares | Trimmed |
Citigroup Inc COM NEW CALL · CUSIP 172967424 | 0.1% | $20m | 196,200 | -$1.6m -61,100 shares | Trimmed |
iShares TR CHINA LG-CAP ETF CALL · CUSIP 464287184 | 0.1% | $21m | 500,000 | No earlier filing | New |
Crowdstrike HLDGS Inc CL A PUT · CUSIP 22788C105 | 0.1% | $21m | 42,600 | -$300k +1,200 shares | Added |
Abbott Labs COM CALL · CUSIP 002824100 | 0.1% | $21m | 159,300 | +$2.1m +19,900 shares | Added |
General MTRS Co COM PUT · CUSIP 37045V100 | 0.1% | $21m | 350,400 | +$1.8m -47,400 shares | Trimmed |
Vaneck ETF Trust SEMICONDUCTR ETF PUT · CUSIP 92189F676 | 0.1% | $21m | 65,800 | +$4.0m +3,600 shares | Added |
Freeport-mcmoran Inc (FCX) CL B PUT · CUSIP 35671D857 | 0.1% | $22m | 553,500 | -$5.7m -76,200 shares | Trimmed |
Blackstone Inc (BX) COM PUT · CUSIP 09260D107 | 0.1% | $22m | 123,100 | +$700k -17,100 shares | Trimmed |
McDonald's Corp (MCD) COM PUT · CUSIP 580135101 | 0.1% | $22m | 71,500 | -$3.9m -16,600 shares | Trimmed |
Mercadolibre Inc (MELI) COM PUT · CUSIP 58733R102 | 0.1% | $22m | 8,900 | -$6.0m -1,800 shares | Trimmed |
Shopify Inc (SHOP) CL A SUB VTG SHS PUT · CUSIP 82509L107 | 0.1% | $22m | 148,400 | +$5.6m +5,800 shares | Added |
Prologis Inc. COM CALL · CUSIP 74340W103 | 0.1% | $23m | 196,500 | -$13m -139,200 shares | Trimmed |
PayPal HLDGS Inc COM PUT · CUSIP 70450Y103 | 0.1% | $23m | 339,800 | -$1.9m +10,300 shares | Added |
Select Sector SPDR TR FINANCIAL PUT · CUSIP 81369Y605 | 0.1% | $23m | 423,500 | No earlier filing | New |
Servicenow Inc (NOW) COM PUT · CUSIP 81762P102 | 0.1% | $24m | 25,200 | +$4.2m +6,300 shares | Added |
Dell Technologies Inc (DELL) CL C CALL · CUSIP 24703L202 | 0.1% | $24m | 179,700 | +$2.0m +2,600 shares | Added |
Adobe Inc (ADBE) COM PUT · CUSIP 00724F101 | 0.1% | $24m | 66,200 | -$25m -58,800 shares | Trimmed |
Philip Morris Intl Inc COM PUT · CUSIP 718172109 | 0.1% | $24m | 148,800 | -$1.3m +8,500 shares | Added |
Walmart Inc (WMT) COM CALL · CUSIP 931142103 | 0.1% | $24m | 236,500 | +$3.1m +19,300 shares | Added |
Fedex Corp (FDX) COM PUT · CUSIP 31428X106 | 0.1% | $25m | 105,800 | +$1.7m +5,600 shares | Added |
International Business Machs COM PUT · CUSIP 459200101 | 0.1% | $25m | 87,700 | +$3.8m +17,400 shares | Added |
Jd.com Inc SPON ADS CL A PUT · CUSIP 47215P106 | 0.1% | $25m | 705,300 | +$21m +582,900 shares | Added |
Asml Holding N V N Y REGISTRY SHS PUT · CUSIP N07059210 | 0.1% | $25m | 25,400 | +$1.5m -3,400 shares | Trimmed |
Lam Research Corp (LRCX) COM NEW PUT · CUSIP 512807306 | 0.1% | $25m | 189,000 | -$6.1m -128,600 shares | Trimmed |
Netflix Inc (NFLX) COM CALL · CUSIP 64110L106 | 0.1% | $25m | 21,000 | -$2.4m +300 shares | Added |
Target Corp COM PUT · CUSIP 87612E106 | 0.1% | $26m | 285,000 | -$1.1m +15,700 shares | Added |
Amgen Inc (AMGN) COM PUT · CUSIP 031162100 | 0.1% | $26m | 90,700 | +$7.7m +26,500 shares | Added |
Alphabet Inc CAP STK CL C CALL · CUSIP 02079K107 | 0.1% | $26m | 106,300 | +$4.2m -16,700 shares | Trimmed |
Berkshire Hathaway Inc Del CL B NEW CALL · CUSIP 084670702 | 0.1% | $26m | 52,600 | -$2.1m -5,700 shares | Trimmed |
Pepsico Inc (PEP) COM PUT · CUSIP 713448108 | 0.1% | $28m | 195,100 | +$16m +111,100 shares | Added |
Advanced Micro Devices Inc (AMD) COM CALL · CUSIP 007903107 | 0.1% | $28m | 171,000 | -$11m -98,700 shares | Trimmed |
Southern Co COM PUT · CUSIP 842587107 | 0.1% | $28m | 295,400 | +$11m +109,000 shares | Added |
Caterpillar Inc (CAT) COM CALL · CUSIP 149123101 | 0.1% | $28m | 67,400 | -$22m -62,200 shares | Trimmed |
PDD Holdings Inc (PDD) SPONSORED ADS CALL · CUSIP 722304102 | 0.1% | $29m | 219,400 | +$11m +51,800 shares | Added |
Invesco QQQ TR UNIT SER 1 · CUSIP 46090E103 | 0.1% | $29m | 49,050 | +$28m +45,750 shares | Added |
Procter and Gamble Co COM CALL · CUSIP 742718109 | 0.1% | $30m | 194,400 | +$1.0m +13,100 shares | Added |
Every filing on file
Taking this into the room
Pick one name from the top of the book and one from the new positions, and know both properly: what the company earns, what it is priced at, and what has to be true for the position to work. That is a conversation. Reciting the whole table is not, and the interviewer wrote it.
A position sold out of is worth as much preparation as one opened. Ask what changed rather than asserting the fund was wrong, and be ready for the answer that the thesis played out and the money went somewhere better.
What this filing leaves out
A 13F covers US-listed long equity at one moment in time. Shorts, bonds, cash, private positions and non-US listings never appear, and options are reported in a form that will mislead you if you read them as a position. A long/short manager showing $8bn here may run a book several times that size.
The lag matters too. Positions are as at the quarter end and the filing arrives up to forty-five days later, so what you are reading is at least six weeks old and possibly four months. Phrase it as what the filing showed, not what the fund holds today.
Company names, tickers and logos are the trademarks of their respective owners and appear here to identify the company whose public figures are being used. L3VLUP is not affiliated with, sponsored by or endorsed by any company shown, and nothing here is a statement by or about that company. More