SEC Filing Summary: Galaxy Digital Inc. (Form 13F)
Business Context and Reporting Period
This filing is a Form 13F Information Table submitted by Galaxy Digital Inc., a digital asset investment and financial services firm. The reporting period covers holdings as of June 30, 2026. The document details the company's equity securities held in a reportable account, including common stock, warrants, and options (calls/puts).
Key Financial Metrics and Portfolio Composition
The filing provides a snapshot of the firm's investment portfolio rather than corporate financial statements (revenue, profit, or cash flow are not reported in this form). Key portfolio metrics include:
- Total Reported Value: The sum of the "Value" column across all holdings represents the total market value of reportable equity securities.
- Top Holdings by Value:
- ISHARES BITCOIN TRUST ETF: Approximately $323.1 million (9.7M shares) plus additional call/put positions.
- INVESCO QQQ TR: Approximately $314.4 million (427,000 shares).
- ARK 21SHARES BITCOIN ETF: Approximately $75.8 million (3.9M shares).
- ALIBABA GROUP HLDG LTD: Approximately $21.8 million (227,440 shares).
- INVESCO GALAXY BITCOIN ETF: Approximately $42.3 million (725,000 shares).
- Derivatives Activity: Significant use of options (Calls and Puts) on major indices (S&P 500, QQQ) and commodities (Gold, Silver, Bitcoin, Ethereum).
- SPAC Exposure: Holdings in numerous Special Purpose Acquisition Companies (e.g., Futurecrest, HCM III/IV, Collective Acquisition).
Material Changes and Portfolio Strategy
As this is a standalone snapshot, direct period-over-period changes cannot be calculated without prior filings. However, the portfolio composition indicates:
- Heavy Crypto Exposure: Significant allocation to Bitcoin and Ethereum ETFs, alongside direct holdings in crypto-related equities (e.g., Canaan Inc., Bullish, Avalanche).
- Strategic Hedging: The presence of substantial Put options on the S&P 500 (464,100 shares) and Ethereum (5M shares) suggests active risk management or bearish hedging strategies.
- Private Equity/SPAC Pipeline: A diverse list of SPAC warrants and common stock indicates ongoing investment in potential merger targets.
Guidance, Risks, and Contingencies
Management Commentary: Not applicable; Form 13F is a regulatory disclosure of holdings and does not contain management commentary or forward-looking guidance.
Risks and Contingencies:
- Market Volatility: High concentration in digital asset ETFs and SPACs exposes the portfolio to significant volatility.
- Liquidity Risk: Some SPAC warrants and smaller cap equities may have lower liquidity.
- Regulatory Risk: The portfolio is heavily weighted toward the digital asset sector, which remains subject to evolving regulatory frameworks.
Investor Verification Checklist
- Verify the total aggregate value of the portfolio against the company's latest 10-Q or 10-K to assess the proportion of assets held in reportable equity securities versus other assets (e.g., direct crypto holdings, cash, debt).
- Confirm the expiration dates of the listed warrants and options to understand the timeline for potential liquidity events or write-offs.
- Review the "Voting Authority" column (all listed as "Sole" or "Shared" discretion) to understand the firm's control over these positions.
- Check for any subsequent filings (13F-HR/A) that may amend these holdings.