Top Institutional Investors

GAMMA Investing LLC — 13F Holdings & Portfolio

CIK 2010235 · latest 13F-HR filed 2026-10-08

Backtest portfolio

GAMMA Investing LLC manages $2.96B in 13F-reported U.S. long-equity assets across 4,329 reported positions as of its 2026-09-30 13F-HR filing. Its largest disclosed positions are NVDA (5.79%), AAPL (5.20%), MSFT (3.99%). Quarter over quarter (versus its 2026-06-30 filing) the fund opened 311 new positions and exited 155; 2,215 existing positions rose in reported value and 1,145 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

Loading holdings…
AUM
$2.96B

Long-equity book

Holdings
4,329

Distinct positions

Period
2026-09-30

Filed 2026-10-08

Q/Q Activity
+311 / −155 / ↑2215 / ↓1145

vs 2026-06-30

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q3 26
NVDA5.8% · +10%AAPL5.2% · +11%MSFT4.0% · +16%AMZN2.4% · +11%GOOGL2.2% · +9%AVGO1.9% · +4%GOOG1.7% · +9%IEMG1.6% · +12%META1.6% · +13%JPM1.4% · +8%MU1.3% · +9%LLY1.1% · +10%AMD0.9% · +9%BRK.B0.9% · +12%TSLA0.9% · +3%SUB0.8% · +4%V0.8% · +10%JNJ0.8% · +8%MUB0.8% · -12%XOM0.7% · +9%ABBV0.7% · +10%BIV0.6% · -21%WMT0.5% · +2%CSCO0.5% · +0%SPSB0.5% · +6%MRK0.5% · +6%INTC0.5% · +5%LRCX0.5% · +8%MA0.5% · +10%AMAT0.4% · +4%CAT0.4% · +7%KO0.4% · +11%CVX0.4% · +7%PANW0.4% · +7%COST0.4% · -3%UNH0.4% · -1%PLTR0.4% · +29%EWC0.4% · +21%APH0.3% · +121%PM0.3% · +8%GE0.3% · +4%SNDK0.3% · +0%BAC0.3% · +5%GS0.3% · +1%PG0.3% · +7%GEV0.3% · +5%RTX0.3% · +6%HD0.3% · -11%GVI0.3% · +283%ANET0.3% · +18%NFLX0.3% · +10%AMGN0.3% · +8%SHM0.3% · +127%TXN0.3% · +11%CRWD0.3% · +345%MCHI0.3% · +7%KLAC0.3% · +8%MS0.3% · +5%ETN0.3% · +8%TSM0.3% · +6%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q2 26 → Q3 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

4 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 27.8%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

As of the firm’s regulatory filing dated Mar 13, 2026.

Assets Under Management
$2.28B
Discretionary
$2.28B
Employees
7
Accounts
1,975
Phone
(888) 585-1755
Website
Name Title / Status Ownership Type
BAIRD FINANCIAL CORPORATION ControlDIRECT OWNER
since Jan 2022
10–25%Domestic Entity
FANG, LORRAINE, Y ControlCEO & PRESIDENT/CCO
since Jan 2021
50–75%Individual
MARTINIC, ZLATKO ControlCIO
since Mar 2021
Less than 5%Individual
RISKO, RUXANDRA ControlCHIEF DISTRIBUTION & MARKETING DIRECTOR
since Jan 2025
Less than 5%Individual
RIVERFRONT INVESTMENT HOLDING GROUP, LLC ControlDIRECT OWNER
since Jan 2022
10–25%Domestic Entity
BAIRD FINANCIAL CORPORATION Control
Indirect owner via RIVERFRONT INVESTMENT HOLDING GROUP, LLC
OWNER
since Mar 2008
25–50%Domestic Entity
BAIRD FINANCIAL GROUP, INC. Control
Indirect owner via BAIRD FINANCIAL CORPORATION
OWNER
since Apr 2004
75% or moreDomestic Entity
Ownership & leadership changes · 6 filings with changes since Feb 10, 2021

From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.

Mar 13, 2026 filing
  • No longer listedOBRIEN, WILLIAM, JAMES · SENIOR CLIENT RELATIONSHIP DIRECTOR · Less than 5% · listed since Aug 2022
  • No longer listedWang, Peili · SENIOR PORTFOLIO MANAGER · Less than 5% · listed since Sep 2021
Jan 16, 2026 filing
  • No longer listedLEE, CALVIN · CLIENT PORTFOLIO MANAGER · Less than 5% · control person · listed since Jun 2022
  • Listed againBAIRD FINANCIAL CORPORATION · OWNER · 25–50% · indirect via RIVERFRONT INVESTMENT HOLDING GROUP, LLC · control person
  • ChangedBAIRD FINANCIAL CORPORATION · ownership 75% or more → 10–25%
  • ChangedRISKO, RUXANDRA · now a control person
  • ChangedRIVERFRONT INVESTMENT HOLDING GROUP, LLC · now a control person
  • ChangedWang, Peili · no longer a control person
Jan 14, 2026 filing
  • No longer listedBAIRD FINANCIAL GROUP, INC. · OWNER · 75% or more · indirect via ROBERT W. BAIRD & CO. INCORPORATED · control person · listed since Apr 2004
  • No longer listedRIVERFRONT INVESTMENT HOLDING GROUP, LLC · DIRECT OWNER · 10–25% · listed since Jan 2022
  • No longer listedROBERT W. BAIRD & CO. INCORPORATED · DIRECT OWNER · 10–25% · listed since Jan 2022
  • Listed againBAIRD FINANCIAL CORPORATION · DIRECT OWNER · 75% or more · control person
  • Listed againBAIRD FINANCIAL GROUP, INC. · OWNER · 75% or more · indirect via BAIRD FINANCIAL CORPORATION · control person
  • Listed againRIVERFRONT INVESTMENT HOLDING GROUP, LLC · DIRECT OWNER · 10–25%
Mar 10, 2025 filing
  • No longer listedBAIRD FINANCIAL CORPORATION · DIRECT OWNER · 10–25% · listed since Jan 2022
  • No longer listedBAIRD FINANCIAL CORPORATION · OWNER · 25–50% · indirect via RIVERFRONT INVESTMENT HOLDING GROUP, LLC · control person · listed since Mar 2008
  • No longer listedBAIRD FINANCIAL GROUP, INC. · OWNER · 75% or more · indirect via BAIRD FINANCIAL CORPORATION · control person · listed since Apr 2004
  • AddedBAIRD FINANCIAL GROUP, INC. · OWNER · 75% or more · indirect via ROBERT W. BAIRD & CO. INCORPORATED · control person
  • AddedOBRIEN, WILLIAM, JAMES · SENIOR CLIENT RELATIONSHIP DIRECTOR · Less than 5%
  • AddedRISKO, RUXANDRA · CHIEF DISTRIBUTION & MARKETING DIRECTOR · Less than 5%
  • AddedROBERT W. BAIRD & CO. INCORPORATED · DIRECT OWNER · 10–25%
Mar 10, 2024 filing
  • No longer listedBAIRD FINANCIAL GROUP · OWNER · 75% or more · indirect via BAIRD FINANCIAL CORPORATION · control person · listed since Apr 2004
  • No longer listedRIVERFRONT INVESTMENT GROUP, LLC · MEMBER · 10–25% · listed since Jan 2022
  • No longer listedRIVERFRONT INVESTMENT HOLDING GROUP, LLC · OWNER · 75% or more · indirect via RIVERFRONT INVESTMENT GROUP, LLC · control person · listed since Mar 2008
  • No longer listedSOUTHALL, KARRIE, BURNHAM · BOARD MEMBER · Less than 5% · control person · listed since Jan 2022
  • No longer listedTHUROW, LAURA, K · BOARD MEMBER · Less than 5% · control person · listed since Jan 2022
  • AddedBAIRD FINANCIAL GROUP, INC. · OWNER · 75% or more · indirect via BAIRD FINANCIAL CORPORATION · control person
  • AddedRIVERFRONT INVESTMENT HOLDING GROUP, LLC · DIRECT OWNER · 10–25%
  • ChangedBAIRD FINANCIAL CORPORATION · title MEMBER → DIRECT OWNER
Apr 11, 2023 filing
  • AddedBAIRD FINANCIAL CORPORATION · MEMBER · 10–25%
  • AddedBAIRD FINANCIAL CORPORATION · OWNER · 25–50% · indirect via RIVERFRONT INVESTMENT HOLDING GROUP, LLC · control person
  • AddedBAIRD FINANCIAL GROUP · OWNER · 75% or more · indirect via BAIRD FINANCIAL CORPORATION · control person
  • AddedLEE, CALVIN · CLIENT PORTFOLIO MANAGER · Less than 5% · control person
  • AddedMARTINIC, ZLATKO · CIO · Less than 5% · control person
  • AddedRIVERFRONT INVESTMENT GROUP, LLC · MEMBER · 10–25%
  • AddedRIVERFRONT INVESTMENT HOLDING GROUP, LLC · OWNER · 75% or more · indirect via RIVERFRONT INVESTMENT GROUP, LLC · control person
  • AddedSOUTHALL, KARRIE, BURNHAM · BOARD MEMBER · Less than 5% · control person
  • AddedTHUROW, LAURA, K · BOARD MEMBER · Less than 5% · control person
  • AddedWang, Peili · SENIOR PORTFOLIO MANAGER · Less than 5% · control person
  • ChangedFANG, LORRAINE, Y · title MANAGING MEMBER/CEO/CCO → CEO & PRESIDENT/CCO; ownership 75% or more → 50–75%
Feb 10, 2021 filing (earliest on record)
  • ListedFANG, LORRAINE, Y · MANAGING MEMBER/CEO/CCO · 75% or more · control person

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

GAMMA Investing LLC Holdings (2026-09-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 NVIDIA CORPORATION COM NVDA 67066G104 $171.1M 5.79% 749,074 SH
2 APPLE INC COM AAPL 037833100 $153.9M 5.20% 461,999 SH
3 MICROSOFT CORP COM MSFT 594918104 $118.0M 3.99% 230,099 SH
4 AMAZON COM INC COM AMZN 023135106 $72.0M 2.44% 289,182 SH
5 ALPHABET INC CAP STK CL A GOOGL 02079K305 $65.4M 2.21% 189,985 SH
6 BROADCOM INC COM AVGO 11135F101 $55.3M 1.87% 157,350 SH
7 ALPHABET INC CAP STK CL C GOOG 02079K107 $50.2M 1.70% 147,309 SH
8 ISHARES INC CORE MSCI EMKT IEMG 46434G103 $48.3M 1.63% 595,263 SH
9 META PLATFORMS INC CL A META 30303M102 $46.0M 1.56% 63,449 SH
10 JPMORGAN CHASE CO COM JPM 46625H100 $41.0M 1.39% 123,853 SH
11 MICRON TECHNOLOGY INC COM MU 595112103 $39.2M 1.33% 36,827 SH
12 ELI LILLY CO COM LLY 532457108 $32.8M 1.11% 28,383 SH
13 ADVANCED MICRO DEVICES INC COM AMD 007903107 $27.7M 0.94% 45,356 SH
14 BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B 084670702 $26.9M 0.91% 54,069 SH
15 TESLA INC COM TSLA 88160R101 $25.8M 0.87% 72,599 SH
16 ISHARES TR SHRT NAT MUN ETF SUB 464288158 $24.1M 0.82% 230,745 SH
17 VISA INC COM CL A V 92826C839 $23.9M 0.81% 66,520 SH
18 JOHNSON JOHNSON COM JNJ 478160104 $22.5M 0.76% 84,832 SH
19 ISHARES TR NATIONAL MUN ETF MUB 464288414 $22.4M 0.76% 221,161 SH
20 EXXONMOBIL HOLDINGS CORP COM SHS XOM 30233Q108 $22.1M 0.75% 135,832 SH
21 ABBVIE INC COM ABBV 00287Y109 $19.6M 0.66% 75,060 SH
22 VANGUARD BD INDEX FDS INTERMED TERM BIV 921937819 $17.2M 0.58% 235,555 SH
23 WALMART INC COM WMT 931142103 $15.5M 0.53% 149,412 SH
24 CISCO SYS INC COM CSCO 17275R102 $15.4M 0.52% 143,105 SH
25 SPDR SERIES TRUST ST SHOR CORP ETF SPSB 78464A474 $15.0M 0.51% 507,601 SH
26 MERCK CO INC COM MRK 58933Y105 $14.6M 0.49% 100,519 SH
27 INTEL CORP COM INTC 458140100 $14.4M 0.49% 119,474 SH
28 LAM RESEARCH CORP COM NEW LRCX 512807306 $14.1M 0.48% 43,060 SH
29 MASTERCARD INCORPORATED CL A MA 57636Q104 $13.7M 0.46% 24,890 SH
30 APPLIED MATLS INC COM AMAT 038222105 $13.3M 0.45% 25,923 SH
31 CATERPILLAR INC COM CAT 149123101 $12.8M 0.43% 15,749 SH
32 COCA COLA CO COM KO 191216100 $12.6M 0.43% 146,525 SH
33 CHEVRON CORPORATION COM CVX 166764100 $11.7M 0.40% 57,206 SH
34 PALO ALTO NETWORKS INC COM PANW 697435105 $11.5M 0.39% 29,037 SH
35 COSTCO WHOLESALE CORPORATION COM COST 22160K105 $11.2M 0.38% 12,350 SH
36 UNITEDHEALTH GROUP INC COM UNH 91324P102 $10.9M 0.37% 29,681 SH
37 PALANTIR TECHNOLOGIES INC CL A PLTR 69608A108 $10.9M 0.37% 58,170 SH
38 ISHARES INC MSCI CDA ETF EWC 464286509 $10.9M 0.37% 185,910 SH
39 AMPHENOL CORP CL A APH 032095101 $10.2M 0.35% 121,334 SH
40 PHILIP MORRIS INTL INC COM PM 718172109 $10.1M 0.34% 53,168 SH
41 GE AEROSPACE COM NEW GE 369604301 $10.1M 0.34% 32,468 SH
42 SANDISK CORP COM SNDK 80004C200 $10.1M 0.34% 5,786 SH
43 BANK OF AMER CORP COM BAC 060505104 $10.0M 0.34% 184,012 SH
44 GOLDMAN SACHS GROUP INC COM GS 38141G104 $9.6M 0.33% 10,675 SH
45 PROCTER GAMBLE CO COM PG 742718109 $9.3M 0.32% 64,339 SH
46 GE VERNOVA INC COM GEV 36828A101 $9.3M 0.31% 9,787 SH
47 RTX CORPORATION COM RTX 75513E101 $9.2M 0.31% 49,582 SH
48 HOME DEPOT INC COM HD 437076102 $9.0M 0.31% 31,772 SH
49 ISHARES TR INTRM GOV CR ETF GVI 464288612 $8.7M 0.29% 84,277 SH
50 ARISTA NETWORKS INC COM SHS ANET 040413205 $8.6M 0.29% 42,000 SH
Filing History
Period Filed AUM Holdings Accession
2026-09-30 2026-10-08 $2.96B 4,329 0002010235-26-000007
2026-06-30 2026-07-07 $2.69B 4,173 0002010235-26-000005
2026-03-31 2026-04-06 $2.14B 4,110 0002010235-26-000003
2025-12-31 2026-01-05 $1.99B 4,094 0002010235-26-000001
Filer Information
Address
1172 DOVER LN
FOSTER CITY, CA 94404
Phone
+1 (914) 354-7087
Filing Manager
GAMMA Investing LLC
FOSTER CITY, CA
Signatory
Lorraine Fang
CEO