--- title: "IMC-Chicago Q4 2025: $275.42B With 84 New Positions and a Derivatives-Led Core" type: research slug: imc-chicago-q4-2025-84-new-positions-derivatives-led-book canonical_url: https://13finsight.com/research/imc-chicago-q4-2025-84-new-positions-derivatives-led-book published_at: 2026-03-29T19:49:30.208Z updated_at: 2026-03-29T19:49:33.535Z author: Marcus Chen author_title: Senior Market Analyst author_url: https://13finsight.com/authors/marcus-chen word_count: 564 locale: en source: 13F Insight --- # IMC-Chicago Q4 2025: $275.42B With 84 New Positions and a Derivatives-Led Core > IMC-Chicago filed a $275.42B Q4 2025 13F showing 84 new positions, 84 exits, and a book dominated by ETF, index, and derivative-style exposures. IMC-Chicago, LLC filed a 2025Q4 13F showing $275.42B in reported assets. The raw headline is the size, but the more useful read is how that capital is arranged: you do not read this portfolio the same way you read a long-only mutual fund because the top exposures themselves signal a trading and derivatives framework. TL;DR Portfolio size: $275.42B at 2025Q4.Quarter-over-quarter move: holdings value moved from $254.32B to $251.19B (-1.2%).Top position: 78462F953 at 9.36% of reported holdings.Concentration: top five holdings still account for roughly 29.0% of the visible book.New names: 84 new positions entered the filing versus 2025Q3.Exits: 84 positions disappeared from the filing.What stands out: the filing is less a stock-picker diary and more a map of structured exposure. Filing Snapshot This filing covers 2025Q4 and carries a Whale Score of 68.00. The visible holdings value moved from $254.32B in 2025Q3 to $251.19B in 2025Q4, while the manager still reported exactly 500 top-line positions in the sampled holdings feed. The page investors should compare against is IMC-Chicago, LLC's filer profile. The biggest liquid anchors in this book are . How The Top Of The Portfolio Works Several of the largest exposures are not plain-vanilla single-stock positions, which immediately changes how the book should be interpreted. This is a derivatives-led, index-sensitive portfolio, and that explains both the high number of new positions and the large turnover. HoldingValueWeightSharesStatus78462F953$23.52B9.36%34.49M-19% shares78462F903$16.02B6.38%23.50M+11% shares0Infinity$13.93B5.55%36.58M+11% shares88160R901$9.94B3.96%22.10MHeld roughly flat67066G904$9.51B3.79%50.98M-8% shares67066G954$9.19B3.66%49.25M-22% shares88160R951$8.33B3.32%18.52MHeld roughly flat30303M902$5.00B1.99%7.58M+24% shares What Changed From 2025Q3 Eighty-four new positions and eighty-four exits is the main story. That is turnover at a level that tells you the filing is a position-engineering document as much as an investing manifesto. Largest New Positions 46438F901: $753.0M.46438F951: $493.9M.512807906: $396.9M.512807956: $395.5M.21873S908: $296.1M.172573907: $263.5M. Largest Exits 682189955: prior quarter value $220.6M.APP: prior quarter value $186.2M.25460G905: prior quarter value $175.9M.882681959: prior quarter value $131.9M.BA: prior quarter value $126.1M.25754A951: prior quarter value $124.0M. Biggest Share Count Increases 64110L906: +843% shares to 18.57M shares.64110L956: +706% shares to 24.03M shares.81762P902: +598% shares to 2.33M shares.81762P952: +347% shares to 2.17M shares.IWM: +344% shares to 1.59M shares. Biggest Share Count Decreases IBIT: -63% shares to 1.71M shares.548661957: -55% shares to 0.30M shares.00214Q954: -54% shares to 1.12M shares.670100955: -49% shares to 1.47M shares.169656955: -48% shares to 3.34M shares. What Investors Might Misread The biggest mistake is to read every large line item as a directional long-only conviction call. In a portfolio like this, instrument choice and structure matter as much as the headline ticker. Bottom Line IMC-Chicago looks like a huge, rapidly rotating exposure book. The signal is not one favorite stock; it is the manager’s willingness to rewire the portfolio through many instruments at once. Questions Investors Are Really Asking Is this a concentrated or diversified filing? The answer depends on what you compare it against. Inside this article's peer set, the filing is surprisingly concentrated at the top even though the book is built through many instruments. Did the manager add risk or just reshuffle exposures? It materially reshuffled exposures. The turnover itself is the point, and it implies active risk management rather than passive carrying. Which stocks matter most going forward? For monitoring purposes, start with 78462F953, 78462F903, and 0Infinity. Those positions shape most of the quarter's visible exposure. What should investors watch next quarter? Watch whether the manager extends the same pattern in the top five holdings, keeps scaling the biggest new entries, or reverses the quarter's sharp share-count changes. ## FAQ ### What did IMC-Chicago, LLC own in 2025Q4? The filing showed $275.42B of 13F assets, led by 78462F953, 78462F903, and 0Infinity. ### What changed most in IMC-Chicago, LLC's 2025Q4 filing? The headline changes were 84 new positions, 84 exits, and several of the largest holdings sitting in instrument-heavy exposures rather than classic single-stock bets. ### How concentrated is IMC-Chicago, LLC's portfolio? The top holding accounts for 9.36% of reported holdings, while the top five add up to about 29.0%. ### Why does this IMC-Chicago, LLC filing matter for investors? Because readers who mistake this for a standard stock-picker filing will infer the wrong thesis from nearly every large position. --- Source: 13F Insight — https://13finsight.com/research/imc-chicago-q4-2025-84-new-positions-derivatives-led-book Author: Marcus Chen — https://13finsight.com/authors/marcus-chen Last updated: 2026-03-29T19:49:33.535Z