Militia Capital Management LLC — 13F Holdings & Portfolio

CIK 2130487 · latest 13F-HR filed 2026-08-12

Militia Capital Management LLC manages $3.37B in 13F-reported U.S. long-equity assets across 278 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are QQQ (37.52%), COIN (15.61%), QQQ (6.73%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 110 new positions and exited 88; 79 existing positions rose in reported value and 43 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.

AUM

$3.37B

Long-equity book

Holdings

278

Distinct positions

Period

2026-06-30

Filed 2026-08-12

Q/Q Activity

+110 / −88 / ↑79 / ↓43

vs 2026-03-31

Portfolio charts

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

Portfolio map

Q2 26

AMZN2.9% · +10%ORR2.6% · -5%TSM2.6% · -16%ET2.1% · 0%AX1.8% · 0%OMAB1.7% · -2%WES1.6% · 0%UTI1.5% · -0%IBKR1.4% · 0%GOOG1.4% · +0%MRNA1.4% · +373%AFRM1.4% · +2%LTH1.2% · +2%AVR1.2% · +2%TIGO1.1% · +11%NKTR1.1% · new AMD1.1% · -26%BKD1.1% · +18%PURR1.0% · +11%APP1.0% · +38%KSPI1.0% · +114%OC1.0% · new LINC1.0% · 0%KLAR1.0% · -5%CYTK0.9% · new RELX0.9% · new INTR0.9% · new SHC0.9% · -0%IBB0.8% · 0%NVO0.8% · new PGNY0.8% · new NVDA0.8% · +10%NHC0.8% · +14%UBER0.8% · new MA0.8% · +125%CAAP0.7% · 0%SVV0.7% · +4%GRVY0.7% · -3%ECO0.7% · +14%PKBK0.7% · 0%EPAM0.7% · new BLK0.7% · new PSNL0.7% · new MPLX0.7% · 0%RVMD0.7% · new INSM0.7% · new DCO0.7% · new MHO0.7% · 0%TEVA0.7% · -6%FIGR0.7% · -10%SOLS0.6% · new CCB0.6% · -7%AVAV0.6% · +1747%LIND0.6% · +29%OSCR0.6% · new AMG0.6% · new V0.6% · +23%CSX0.6% · 0%BMA0.6% · -6%MNTN0.6% · +30%

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

Q1 26 → Q2 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

2 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 = 19.6%

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

Firm Profile & Key People

Assets Under Management

$958.6M

Discretionary

$958.6M

Employees

Accounts

Address

500 W 2ND ST
SUITE 1900
AUSTIN, TX 78701

Phone

(213) 444-9705

Website

www.militiacapital.com
x.com/orrdavid

Name	Title / Status	Ownership	Type
LEE, SAMUEL, Y Control	CHIEF COMPLIANCE OFFICER, CHIEF FINANCIAL OFFICER, MEMBER	Less than 5%	Individual
ORR, DAVID Control	CHIEF EXECUTIVE OFFICER, MANAGING MEMBER, FOUNDER, PRINCIPAL, SOLE MEMBER	75% or more	Individual

Quarter-over-quarter changes

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

Top Adds (vs prior quarter)

MODERNA INC$6.4M +551.5%
APPLOVIN CORP$3.4M +149.0%
KASPI KZ JSC$3.4M +150.9%
AFFIRM HLDGS INC$3.4M +81.1%
AMAZON COM INC$3.3M +25.9%

Show all 79 →

Top Trims

MAREX GROUP PLC-$2.6M -68.0%
ALIGN TECHNOLOGY INC-$2.4M -68.6%
NU HLDGS LTD-$2.2M -94.2%
AMERICAN COASTAL INS CORP-$1.9M -84.9%
STMICROELECTRONICS N V-$1.8M -52.3%

Show all 43 →

New Positions

Show all 110 →

Exited Positions

Show all 88 →

Loading…

#	Issuer	Symbol	CUSIP	Value	Δ

Militia Capital Management LLC Holdings (2026-06-30)

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	INVESCO QQQ TR Call	QQQ	46090E103	$1.26B	37.52%	1,717,400	SH
2	COINBASE GLOBAL INC Put	COIN	19260Q107	$526.1M	15.61%	3,598,400	SH
3	INVESCO QQQ TR Put	QQQ	46090E103	$227.0M	6.73%	308,200	SH
4	BLACKROCK INC Call	BLK	09290D101	$203.6M	6.04%	211,700	SH
5	TESLA INC Put	TSLA	88160R101	$183.1M	5.43%	435,300	SH
6	ALPHABET INC Call	GOOG	02079K107	$83.1M	2.47%	235,200	SH
7	MICROSOFT CORP Call	MSFT	594918104	$70.9M	2.10%	190,000	SH
8	INTERNATIONAL BUSINESS MACHS Call	IBM	459200101	$41.5M	1.23%	147,600	SH
9	AFFIRM HLDGS INC Call	AFRM	00827B106	$28.8M	0.85%	353,400	SH
10	BOEING CO Call	BA	097023105	$24.5M	0.73%	113,000	SH
11	SPDR GOLD TR Call	GLD	78463V107	$22.1M	0.66%	60,000	SH
12	AMAZON COM INC Call	AMZN	023135106	$21.5M	0.64%	90,000	SH
13	ISHARES TR Put	EEM	464287234	$21.4M	0.63%	312,600	SH
14	AMAZON COM INC	AMZN	023135106	$16.0M	0.48%	67,193	SH
15	ELI LILLY & CO Call	LLY	532457108	$15.4M	0.46%	12,800	SH
16	EA SERIES TRUST	ORR	02072Q820	$14.7M	0.44%	404,411	SH
17	TAIWAN SEMICONDUCTOR MANUFAC	TSM	874039100	$14.1M	0.42%	29,623	SH
18	NVIDIA CORPORATION Call	NVDA	67066G104	$12.0M	0.36%	60,000	SH
19	CASEYS GEN STORES INC Put	CASY	147528103	$11.9M	0.35%	15,000	SH
20	ENERGY TRANSFER L P	ET	29273V100	$11.5M	0.34%	600,000	SH
21	MODERNA INC Call	MRNA	60770K107	$10.4M	0.31%	148,500	SH
22	AXOS FINANCIAL INC	AX	05465C100	$9.7M	0.29%	100,000	SH
23	AST SPACEMOBILE INC Put	ASTS	00217D100	$9.4M	0.28%	105,700	SH
24	GRUPO AEROPORTUARIO DEL CENT	OMAB	400501102	$9.4M	0.28%	82,824	SH
25	WESTERN MIDSTREAM PARTNERS L	WES	958669103	$8.8M	0.26%	200,250	SH
26	UNIVERSAL TECHNICAL INST INC	UTI	913915104	$8.5M	0.25%	199,000	SH
27	HCA HEALTHCARE INC Put	HCA	40412C101	$8.5M	0.25%	21,800	SH
28	INTERACTIVE BROKERS GROUP IN	IBKR	45841N107	$7.9M	0.23%	91,000	SH
29	ALPHABET INC	GOOG	02079K107	$7.9M	0.23%	22,329	SH
30	MODERNA INC	MRNA	60770K107	$7.6M	0.23%	108,701	SH
31	SNAP INC Call	SNAP	83304A106	$7.5M	0.22%	1,700,000	SH
32	AFFIRM HLDGS INC	AFRM	00827B106	$7.5M	0.22%	92,502	SH
33	LIFE TIME GROUP HOLDINGS INC	LTH	53190C102	$6.7M	0.20%	164,400	SH
34	ANTERIS TECHNOLOGIES GLOBAL	AVR	03675P102	$6.6M	0.20%	670,000	SH
35	MILLICOM INTL CELLULAR S A	TIGO	L6388F110	$6.4M	0.19%	70,000	SH
36	NEKTAR THERAPEUTICS	NKTR	640268306	$6.3M	0.19%	90,000	SH
37	ADVANCED MICRO DEVICES INC	AMD	007903107	$6.0M	0.18%	10,341	SH
38	BROOKDALE SR LIVING INC	BKD	112463104	$6.0M	0.18%	372,400	SH
39	SELECT SECTOR SPDR TR Call	XLP	81369Y308	$5.8M	0.17%	70,000	SH
40	HYPERLIQUID STRATEGIES INC	PURR	44916Y106	$5.7M	0.17%	727,387	SH
41	APPLOVIN CORP	APP	03831W108	$5.7M	0.17%	11,000	SH
42	KASPI KZ JSC	KSPI	48581R205	$5.6M	0.17%	65,000	SH
43	OWENS CORNING NEW	OC	690742101	$5.6M	0.17%	35,000	SH
44	LINCOLN EDL SVCS CORP	LINC	533535100	$5.5M	0.16%	110,731	SH
45	KLARNA GROUP PLC	KLAR	G5279N105	$5.3M	0.16%	263,254	SH
46	CYTOKINETICS INC	CYTK	23282W605	$5.1M	0.15%	60,000	SH
47	RELX PLC	RELX	759530108	$5.1M	0.15%	160,000	SH
48	INTER & CO INC	INTR	G4R20B107	$4.9M	0.14%	900,000	SH
49	SOTERA HEALTH CO	SHC	83601L102	$4.8M	0.14%	270,000	SH
50	ALIBABA GROUP HLDG LTD Put	BABA	01609W102	$4.8M	0.14%	49,500	SH

Filing History

Period	Filed	AUM	Holdings	Accession
2026-06-30	2026-08-12	$3.37B	278	0002130487-26-000006
2026-03-31	2026-05-13	$442.7M	257	0002130487-26-000002
2026-03-31	2026-06-12	$454.1M	267	0002130487-26-000003
2026-03-31	2026-08-12	$989.2M	273	0002130487-26-000005

Filer Information

Address

500 W. 2ND STREET SUITE 1900
AUSTIN, TX 78701

Phone

(626) 665-2463

Filing Manager

Militia Capital Management LLC

AUSTIN, TX

Signatory

Samuel Lee

CCO