Equibles

TONX

TON Strategy Co

Company with tickers: TONX

CIK
1566610
CUSIP
92337U302
Shares Outstanding
56,530,617
13F Activity (30d)
39 filings 37 filers
Holders: 41
Total Value: $38,754,856
Total Shares: 15,690,234

Institutional Ownership Trend

6 quarters

Holder Concentration

Across 41 13F filers · Δ vs Dec 31, 2025
Top Holder
31.2%
Dec 2024 → Mar 2026 · range 13.7% – 65.4%
−3.4 pts
Top 5
65.9%
Dec 2024 → Mar 2026 · range 46.9% – 100.0%
+2.9 pts
Top 10
84.8%
Dec 2024 → Mar 2026 · range 69.2% – 100.0%
+3.4 pts
HHI
1,431
Dec 2024 → Mar 2026 · range 671 – 4,908
Broadly held −82

Quarterly Activity

vs Dec 31, 2025
New
10
Increased
9
Decreased
13
Sold Out
22
Unchanged
9
Holder count: -12
Institutional value: +38.9%
Shares held: +11.9%

Top Buyers

vs Dec 31, 2025
Institution Added Now Holds Open
Mega UBS Group AG +609,498 686,441
Mega SUSQUEHANNA INTERNATIONAL GROUP, LLP +257,995 298,695
Mega GOLDMAN SACHS GROUP INC +76,251 181,768
Mid ARISTEIA CAPITAL, L.L.C. +45,747 4,895,110
Mega CHARLES SCHWAB INVESTMENT MANAGEMENT INC +41,760 270,797

Top Sellers

vs Dec 31, 2025
Institution Sold Now Holds Open
Mega CITADEL ADVISORS LLC −154,700 139,000
Large MARSHALL WACE, LLP −128,882 182,551
Large OMERS ADMINISTRATION Corp −67,200 35,600
Mega TWO SIGMA INVESTMENTS, LP −39,638 31,299
Mid Saba Capital Management, L.P. −36,727 791,268

Top New Positions

vs Dec 31, 2025
Institution Acquired Value (USD) Open
Mega VANGUARD CAPITAL MANAGEMENT LLC 2,287,988 $5,651,330
Mega VANGUARD FIDUCIARY TRUST CO 298,819 $738,082
Small ParaFi Capital LP 50,380 $124,438
Mid Brevan Howard Capital Management LP 39,228 $96,893
Mega Vanguard Global Advisers, LLC 20,990 $51,845

Top Sold-Out Positions

vs Dec 31, 2025
Institution Previously Held Last Value (USD) Open
Mega VANGUARD GROUP INC 770,753 $1,533,797
Small Cable Car Capital, LP 110,000 $218,900
Large RENAISSANCE TECHNOLOGIES LLC 109,400 $217,706
Large Verition Fund Management LLC 93,396 $185,858
Mid METEORA CAPITAL, LLC 87,716 $174,554
Filter: New 10 Increased 9 Reduced 13 Sold out 22 Unchanged 9
Showing 44 of 44
All Common Calls Puts
Export CSV
Holder Value (USD) % of 13F Shares Open
Mid ARISTEIA CAPITAL, L.L.C. $12,090,921 31.20% 4,895,110
Mega VANGUARD CAPITAL MANAGEMENT LLC $5,651,330 14.58% 2,287,988
Mid Ribbit Management Company, LLC $3,895,898 10.05% 1,577,287
Mid Saba Capital Management, L.P. $1,954,431 5.04% 791,268
Mid DRW Securities, LLC Broker-Dealer $1,947,950 5.03% 788,644
Mega BlackRock, Inc. $1,780,580 4.59% 720,883
Mega UBS Group AG $1,695,507 4.37% 686,441
Small Yorkville Advisors Global, LP $1,482,000 3.82% 600,000
Mega GEODE CAPITAL MANAGEMENT, LLC $1,433,898 3.70% 580,526
Micro Arrington Capital Management, LLC $935,016 2.41% 378,549
Mega VANGUARD FIDUCIARY TRUST CO Bank $738,082 1.90% 298,819
Mega CHARLES SCHWAB INVESTMENT MANAGEMENT INC $668,868 1.73% 270,797
Mega MILLENNIUM MANAGEMENT LLC $536,298 1.38% 217,125
Mega STATE STREET CORP $527,236 1.36% 213,456
Mega SUSQUEHANNA INTERNATIONAL GROUP, LLP $495,716 1.28% 200,695
Large MARSHALL WACE, LLP $450,900 1.16% 182,551
Mega GOLDMAN SACHS GROUP INC $448,966 1.16% 181,768
Large IEQ CAPITAL, LLC $312,321 0.81% 126,446
Mega NORTHERN TRUST CORP Bank $258,529 0.67% 104,668
Mega CITADEL ADVISORS LLC $184,262 0.48% 74,600
Mid Summit Trail Advisors, LLC $165,403 0.43% 66,965
Mega CITADEL ADVISORS LLC $159,068 0.41% 64,400
Mega SUSQUEHANNA INTERNATIONAL GROUP, LLP $150,917 0.39% 61,100
Small ParaFi Capital LP $124,438 0.32% 50,380
Mid Brevan Howard Capital Management LP $96,893 0.25% 39,228
Mega SUSQUEHANNA INTERNATIONAL GROUP, LLP $91,143 0.24% 36,900
Large OMERS ADMINISTRATION Corp $87,932 0.23% 35,600
Mega TWO SIGMA INVESTMENTS, LP $77,308 0.20% 31,299
Mid Capital Investment Advisors, LLC $51,944 0.13% 21,030
Mega Vanguard Global Advisers, LLC $51,845 0.13% 20,990
Large Schonfeld Strategic Advisors LLC $47,915 0.12% 19,399
Small Catalyst Funds Management Pty Ltd $45,201 0.12% 18,300
Large Squarepoint Ops LLC $31,354 0.08% 12,694
Mid Virtu Financial LLC $27,375 0.07% 11,083
Mid GTS SECURITIES LLC Broker-Dealer $24,746 0.06% 10,019
Mid SIMPLEX TRADING, LLC $10,445 0.03% 4,229
Mega MORGAN STANLEY $8,921 0.02% 3,612
Large OSAIC HOLDINGS, INC. $5,928 0.02% 2,400
Mid SBI Securities Co., Ltd. Broker-Dealer $3,339 0.01% 1,352
Mid INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC $1,790 0.00% 725
Mega BARCLAYS PLC $1,551 0.00% 628
Mega CITIGROUP INC $442 0.00% 179
Mid Bogart Wealth, LLC $247 0.00% 100
Mid Allworth Financial LP $2 0.00% 1

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