UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F COVER PAGE
OMB APPROVAL
OMB Number:3235-0006
Expires:July 31, 2015
Estimated average burden
hours per response:23.8
Report for the Calendar Year or Quarter Ended:
09-30-2025
Check here if Amendment: ☐ Amendment Number:
This Amendment (Check only one.):☐ is a restatement.
☐ adds new holdings entries.

Institutional Investment Manager Filing this Report:

Name:
Ionic Capital Management LLC
Address:
475 FIFTH AVENUE
9TH FLOOR
NEW YORK, NY 10017
Form 13F File Number:
028-12913

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.


Person Signing this Report on Behalf of Reporting Manager:
Name:
Steven Vecchio
Title:
Chief Compliance Officer and Associate General Counsel
Phone:
(212) 294-8500


Signature, Place, and Date of Signing:

/s/ Steven Vecchio
                         [Signature]
New York, NEW YORK
                 [City, State]
11-14-2025
                           [Date]
                          

Report Type (Check only one.):

☒ 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) 

☐ 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) 

☐ 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)


Form 13F Summary Page

Report Summary:

Number of Other Included Managers:
0
Form 13F Information table Entry Total:
130
Form 13F Information table Value Total:
958491174
          (thousands)

List of Other Included Managers:

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.
[If there are no entries in this list, state "NONE" and omit the column headings and list entries.]

  
NONE


UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number:3235-0006
Expires:July 31, 2015
Estimated average burden
hours per response:23.8
COLUMN 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
ADVANCED MICRO DEVICES INCCOM007903107669,8114,140SHDFND4,140 0 0
ALIBABA GROUP HLDG LTDSPONSORED ADS01609W102768,5394,300SHCallDFND4,300 0 0
ALIBABA GROUP HLDG LTDSPONSORED ADS01609W1021,779,4369,956SHDFND9,956 0 0
ALIGHT INCCOM CL A01626W1011,850,872567,752SHDFND567,752 0 0
ALPHABET INCCAP STK CL A02079K3051,409,9805,800SHCallDFND5,800 0 0
AMAZON COM INCCOM023135106450,1192,050SHDFND2,050 0 0
AMCOR PLC ORDG0250X107572,60070,000SHCallDFND70,000 0 0
AMCOR PLC ORDG0250X107988,144120,800SHDFND120,800 0 0
APPLE INCCOM037833100903,4273,548SHDFND3,548 0 0
APPLIED MATLS INCCOM038222105962,2784,700SHPutDFND4,700 0 0
ARCHER AVIATION INC*W EXP 09/16/20203945R11038,02117,361SHDFND17,361 0 0
ASML HOLDING N VN Y REGISTRY SHSN07059210774,472800SHPutDFND800 0 0
AST SPACEMOBILE INCCOM CL A00217D100245,6455,005SHDFND5,005 0 0
ATLANTA BRAVES HLDGS INCCOM SER A047726104310,0606,819SHDFND6,819 0 0
ATLANTA BRAVES HLDGS INCCOM SER C047726302590,12114,189SHDFND14,189 0 0
ATMUS FILTRATION TECHNOLOGIECOM04956D1073,082,12768,355SHDFND68,355 0 0
AURORA INNOVATION INC*W EXP 11/03/202051774115373,385643,767SHDFND643,767 0 0
AURORA INNOVATION INCCLASS A COM0517741071,078,000200,000SHPutDFND200,000 0 0
AURORA INNOVATION INCCLASS A COM051774107179,19633,246SHDFND33,246 0 0
BAIDU INCSPON ADR REP A056752108724,7355,500SHCallDFND5,500 0 0
BLAIZE HLDGS INC*W EXP 01/13/20309291511574,296119,600SHDFND119,600 0 0
BLUE GOLD LTD*W EXP 04/01/203G1331C11212,47927,271SHDFND27,271 0 0
BOREALIS FOODS INC*W EXP 02/07/20209973D1135,35570,000SHDFND70,000 0 0
BRIGHTHOUSE FINL INCCOM10922N103583,88011,000SHDFND11,000 0 0
BROADCOM INCCOM11135F101998,6383,027SHDFND3,027 0 0
BUILDERS FIRSTSOURCE INCCOM12008R1071,091,2509,000SHDFND9,000 0 0
CAESARS ENTERTAINMENT INC NECOM12769G1001,621,50060,000SHDFND60,000 0 0
CAMTEK LTDORDM20791105787,8757,500SHPutDFND7,500 0 0
CHURCHILL CAP CORP XSHS CL AG2130T1081,607,500125,000SHDFND125,000 0 0
CIPHER MINING INCCOM17253J1061,007,20080,000SHDFND80,000 0 0
COEUR MNG INCCOM NEW1921085045,628,000300,000SHPutDFND300,000 0 0
COHERENT CORPCOM19247G1071,938,96018,000SHDFND18,000 0 0
COINBASE GLOBAL INCCOM CL A19260Q107504,2101,494SHDFND1,494 0 0
COMPASS INCCL A20464U100803,000100,000SHCallDFND100,000 0 0
CONFLUENT INCCLASS A COM20717M1031,287,00065,000SHCallDFND65,000 0 0
CONSTELLIUM SECL A SHSF211071013,252,262218,566SHDFND218,566 0 0
CORE SCIENTIFIC INC NEWCOM21874A1061,524,90085,000SHCallDFND85,000 0 0
COREWEAVE INCCOM CL A21873S10882,110600SHCallDFND600 0 0
COREWEAVE INCCOM CL A21873S108957,9507,000SHDFND7,000 0 0
CORNING INCCOM219350105492,1806,000SHDFND6,000 0 0
DOLE PLCORD SHSG27907107672,00050,000SHCallDFND50,000 0 0
ELECTRONIC ARTS INCCOM285512109302,5501,500SHDFND1,500 0 0
EVGO INCCL A COM30052F100473,000100,000SHCallDFND100,000 0 0
EVOLV TECHNOLOGIES HLDNGS IN*W EXP 07/16/20230049H110144,006197,268SHDFND197,268 0 0
FLEX LTDORDY2573F1022,855,19649,253SHDFND49,253 0 0
FLOWSERVE CORPCOM34354P1051,859,90035,000SHDFND35,000 0 0
FREEPORT-MCMORAN INCCL B35671D8571,764,90045,000SHCallDFND45,000 0 0
GAMESTOP CORP NEWCL A36467W1092,046,00075,000SHPutDFND75,000 0 0
GCT SEMICONDUCTOR HLDG INC*W EXP 03/01/20236170N115126,188673,000SHDFND673,000 0 0
GEN DIGITAL INCCOM6687711084,116,550145,000SHPutDFND145,000 0 0
GEN DIGITAL INCCOM66877110831,6831,116SHDFND1,116 0 0
GEN DIGITAL INCRIGHT 99/99/9999668771116461,21062,410SHDFND62,410 0 0
GLOBAL BUSINESS TRAVEL GROUPCOM CL A37890B1001,357,497168,007SHDFND168,007 0 0
GLOBUS MED INCCL A3795772082,668,55346,596SHDFND46,596 0 0
GSR III ACQUISITION CORPCL AG4R103107518,00050,000SHDFND50,000 0 0
GXO LOGISTICS INCORPORATEDCOMMON STOCK36262G1014,149,16878,449SHDFND78,449 0 0
HELPORT AI LTD*W EXP 03/31/202G4R52R11116,32182,640SHDFND82,640 0 0
HEWLETT PACKARD ENTERPRISE CCOM42824C1091,399,92057,000SHDFND57,000 0 0
HUBSPOT INCCOM4435731001,637,3003,500SHCallDFND3,500 0 0
INTEL CORPCOM4581401002,180,75065,000SHCallDFND65,000 0 0
IQIYI INCSPONSORED ADS46267X108779,776304,600SHPutDFND304,600 0 0
ISHARES ETHEREUM TRSHS46438R105927,08729,422SHDFND29,422 0 0
ISHARES INCMSCI BRAZIL ETF46428640015,500,000500,000SHCallDFND500,000 0 0
ISHARES INCMSCI BRAZIL ETF46428640021,700,000700,000SHPutDFND700,000 0 0
ISHARES TRIBOXX HI YD ETF46428851381,190,0001,000,000SHCallDFND1,000,000 0 0
ISHARES TRIBOXX HI YD ETF464288513426,247,5005,250,000SHPutDFND5,250,000 0 0
ISHARES TRISHARES SEMICDTR464287523863,5173,185SHDFND3,185 0 0
ISHARES TRMSCI EMG MKT ETF464287234186,900,0003,500,000SHCallDFND3,500,000 0 0
ISHARES TRRUSSELL 2000 ETF46428765548,392,000200,000SHCallDFND200,000 0 0
ISHARES TRRUSSELL 2000 ETF46428765548,392,000200,000SHPutDFND200,000 0 0
JAMES HARDIE INDS PLCORD SHSG4253H1011,760,15591,627SHDFND91,627 0 0
JD.COM INCSPON ADS CL A47215P106902,48425,800SHCallDFND25,800 0 0
JOBY AVIATION INC*W EXP 08/10/202G65163118314,49052,415SHDFND52,415 0 0
K WAVE MEDIA LTD*W EXP 05/14/203G5315112558,000400,000SHDFND400,000 0 0
KEURIG DR PEPPER INCCOM49271V100637,75025,000SHCallDFND25,000 0 0
LAM RESEARCH CORPCOM NEW512807306843,5706,300SHPutDFND6,300 0 0
LANVIN GROUP HOLDINGS LIMITE*W EXP 01/14/202G5380J11836,0451,917,304SHDFND1,917,304 0 0
LIFEWAY FOODS INCCOM531914109499,68018,000SHDFND18,000 0 0
LIONSGATE STUDIOS CORPCOM53626N102728,371105,561SHDFND105,561 0 0
LISTED FDS TRROUNDHILL MAGNIF53656G4981,152,04317,762SHDFND17,762 0 0
LIVEWIRE GROUP INC*W EXP 09/26/20253838J113110,5121,522,201SHDFND1,522,201 0 0
MANCHESTER UTD PLC NEWORD CL AG5784H106517,48534,180SHDFND34,180 0 0
META PLATFORMS INCCL A30303M102954,6941,300SHDFND1,300 0 0
MICRON TECHNOLOGY INCCOM5951121031,611,4599,631SHDFND9,631 0 0
MR COOPER GROUP INCCOM62482R107590,0012,799SHDFND2,799 0 0
NET POWER INC*W EXP 06/08/20264107A113158,391211,188SHDFND211,188 0 0
NIOCORP DEVS LTD*W EXP 03/17/202654484153363,540197,576SHDFND197,576 0 0
NIOCORP DEVS LTDCOM NEW654484609334,00050,000SHPutDFND50,000 0 0
NORTHERN DYNASTY MINERALS LTCOM NEW66510M204621,000517,500SHDFND517,500 0 0
NUVEEN DOW 30 DYNMC OVERWRTSHS67075F1051,078,14072,407SHDFND72,407 0 0
NUVEEN NASDAQ 100 DYNAMIC OVCOM SHS6706991071,898,74969,146SHDFND69,146 0 0
NVIDIA CORPORATIONCOM67066G1041,480,8857,937SHDFND7,937 0 0
ON SEMICONDUCTOR CORPNOTE 0.500% 3/0682189AU93,237,3953,500,000PRNDFND3,500,000 0 0
OPENDOOR TECHNOLOGIES INCCOM683712103145,26918,227SHDFND18,227 0 0
PALANTIR TECHNOLOGIES INCCL A69608A108963,5425,282SHDFND5,282 0 0
PDD HOLDINGS INCSPONSORED ADS722304102832,6716,300SHCallDFND6,300 0 0
PENN ENTERTAINMENT INCCOM707569109770,40040,000SHDFND40,000 0 0
PLANET LABS PBCCOM CL A72703X1061,323,960102,000SHPutDFND102,000 0 0
POWERFLEET INCCOM73931J1091,860,079354,977SHDFND354,977 0 0
PRIMO BRANDS CORPORATIONCLASS A COM SHS7416231022,263,880102,438SHDFND102,438 0 0
PURECYCLE TECHNOLOGIES INC*W EXP 03/17/20274623V111254,19375,205SHDFND75,205 0 0
RENEW ENERGY GLOBAL PLC*W EXP 08/21/202G7500M1209,120200,000SHDFND200,000 0 0
RHCOM74967X1032,173,81210,700SHDFND10,700 0 0
ROCKET COS INCCOM CL A77311W101211,92010,935SHDFND10,935 0 0
SEMLER SCIENTIFIC INCCOM81684M104345,00011,500SHCallDFND11,500 0 0
SHARPLINK GAMING INCCOM NEW820014405884,52052,000SHDFND52,000 0 0
SIBANYE STILLWATER LTDSPONSORED ADR82575P1071,124,000100,000SHPutDFND100,000 0 0
SIBANYE STILLWATER LTDSPONSORED ADR82575P107286,17025,460SHDFND25,460 0 0
SIRIUSXM HOLDINGS INCCOMMON STOCK829933100698,25030,000SHDFND30,000 0 0
SOUTHLAND HLDGS INC*W EXP 02/14/20284445C11851,886268,981SHDFND268,981 0 0
SPERO THERAPEUTICS INCCOM84833T103392,403208,725SHDFND208,725 0 0
STRATEGY INCCL A NEW5949724081,063,2933,300SHPutDFND3,300 0 0
STRATEGY INCCL A NEW594972408645,0642,002SHDFND2,002 0 0
STRATEGY INCSERIES A PERP PF5949728873,870,56542,209SHDFND42,209 0 0
SUPER MICRO COMPUTER INCCOM NEW86800U302793,45516,551SHDFND16,551 0 0
TD SYNNEX CORPORATIONCOM87162W1001,490,1259,100SHDFND9,100 0 0
TELEPHONE & DATA SYS INCCOM NEW8794338291,147,92729,254SHDFND29,254 0 0
TESLA INCCOM88160R101733,7881,650SHDFND1,650 0 0
TIDAL TRUST IIDEF DLY TGT 2X L88636J253203,1109,500SHPutDFND9,500 0 0
TMC THE METALS COMPANY INC*W EXP 09/09/20287261Y114203,802194,116SHDFND194,116 0 0
TRAVEL PLUS LEISURE COCOM8941641023,425,97057,589SHDFND57,589 0 0
VANECK ETF TRUSTGOLD MINERS ETF92189F106764,00010,000SHCallDFND10,000 0 0
VANECK ETF TRUSTGOLD MINERS ETF92189F1062,749,71235,991SHDFND35,991 0 0
VISIONWAVE HOLDINGS INC*W EXP 07/14/20392795011349,766120,998SHDFND120,998 0 0
VOLATILITY SHS TR2X ETHER ETF NEW92864M798493,4683,800SHPutDFND3,800 0 0
VOLATILITY SHS TR2X ETHER ETF NEW92864M7985194SHDFND4 0 0
WESTERN AST INFL LKD OPP & ICOM95766R1041,388,974156,240SHDFND156,240 0 0
WOLFSPEED INCCOMMON STOCK97785W1061,430,00050,000SHCallDFND50,000 0 0
YETI HLDGS INCCOM98585X1041,642,41049,500SHDFND49,500 0 0
ZOOMINFO TECHNOLOGIES INCCOMMON STOCK98980F104231,22721,194SHDFND21,194 0 0