TON Strategy Co: which funds bought and sold

Institutions that bought and sold TON Strategy shares in Q2 2026, from the holdings they reported to the SEC on Form 13F for March 31, 2026 and June 30, 2026.

Between March 31, 2026 and June 30, 2026, 18 institutions that filed 13F reports for both quarters added to or opened positions in TON Strategy, and 25 cut or closed them. Together they added a net 184K shares, +1.2% on what they held at the start of the quarter. Active managers and hedge funds on our list were net sellers of 482K shares (−7.8%); index fund managers were net sellers of 67K shares (−1.5%). 11 opened a new position and 14 sold out entirely.

Bought, Q2 2026 18 institutions, 11 of them new holders Sold, Q2 2026 25 institutions, 14 of them sold out

Net change, all compared +184K shares (+1.2%)

Net change, active managers −482K shares (−7.8%), 4 bought, 5 sold

Buyers versus sellers

institutions compared, 51

18 bought 8 25 sold

Active managers and hedge funds 4 bought · 5 sold · −482K

Index fund managers 1 bought · 6 sold · −67K

Other institutions 13 bought · 14 sold · +733K

Biggest buyers

by change in shares held

Biggest buyers
Institution	Change in shares	Shares June 30, 2026	Value
Long Corridor Asset Management Ltd	+1.0M New position	1.0M	$2.6M
Jane Street Group, LLC	+232K New position	232K	$590,392
Blackrock, Inc. Index funds	+134K +18.6%	855K	$2.2M
UBS Group AG	+112K +16.3%	799K	$2M
Summit Trail Advisors, LLC	+78K +116.5%	145K	$369,666
Group One Trading LLC	+31K New position	31K	$78,887
Xtx Topco Ltd	+30K New position	30K	$75,569
Exoduspoint Capital Management, LP Hedge fund	+29K New position	29K	$74,544
Imc-Chicago, LLC	+28K New position	28K	$70,581
Simplex Trading, LLC	+24K +572.4%	28K	$72,509
Goldman Sachs Group Inc	+20K +11.2%	202K	$515,278
American Century Companies Inc Active manager	+19K New position	19K	$49,422
Scientech Research LLC	+14K New position	14K	$36,455
Two Sigma Investments, LP Hedge fund	+1,390 +4.4%	33K	$83,357
Squarepoint Ops LLC Hedge fund	+256 +2.0%	13K	$33,023
Rialto Wealth Management, LLC	+191 New position	191	$488
National Bank Of Canada	+132 New position	132	$337
Caitong International Asset Management Co., Ltd	+4 New position	4	$10

Biggest buyers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Exoduspoint Capital Management, LP Hedge fund	+29K New position	29K	$74,544
American Century Companies Inc Active manager	+19K New position	19K	$49,422
Two Sigma Investments, LP Hedge fund	+1,390 +4.4%	33K	$83,357
Squarepoint Ops LLC Hedge fund	+256 +2.0%	13K	$33,023

Biggest sellers

by change in shares held

Biggest sellers
Institution	Change in shares	Shares June 30, 2026	Value
Yorkville Advisors Global, LP	−440K −73.3%	160K	$408,000
Millennium Management LLC Hedge fund	−217K Sold out	0	—
Marshall Wace, LLP Hedge fund	−183K Sold out	0	—
Susquehanna International Group, LLP	−154K −76.5%	47K	$120,166
Ieq Capital, LLC	−126K Sold out	0	—
Vanguard Capital Management LLC Index funds	−103K −4.5%	2.2M	$5.6M
Saba Capital Management, L.P. Hedge fund	−74K −9.3%	717K	$1.8M
Parafi Capital LP	−50K Sold out	0	—
Geode Capital Management, LLC Index funds	−42K −7.3%	538K	$1.4M
Charles Schwab Investment Management Inc Index funds	−41K −15.2%	230K	$585,526
Brevan Howard Capital Management LP Hedge fund	−39K Sold out	0	—
Omers Administration Corp	−36K Sold out	0	—
Capital Investment Advisors, LLC	−21K Sold out	0	—
Schonfeld Strategic Advisors LLC Hedge fund	−19K Sold out	0	—
Catalyst Funds Management Pty Ltd	−18K Sold out	0	—
Vanguard Fiduciary Trust Co Index funds	−12K −4.1%	287K	$730,845
Virtu Financial LLC	−11K Sold out	0	—
Morgan Stanley	−3,612 Sold out	0	—
Osaic Holdings, Inc.	−2,400 Sold out	0	—
Northern Trust Corp Index funds	−2,000 −1.9%	103K	$261,803

Biggest sellers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Millennium Management LLC Hedge fund	−217K Sold out	0	—
Marshall Wace, LLP Hedge fund	−183K Sold out	0	—
Saba Capital Management, L.P. Hedge fund	−74K −9.3%	717K	$1.8M
Brevan Howard Capital Management LP Hedge fund	−39K Sold out	0	—
Schonfeld Strategic Advisors LLC Hedge fund	−19K Sold out	0	—

New positions

largest by value

Institution	Shares	Value June 30, 2026
Long Corridor Asset Management Ltd	1.0M	$2.6M
Jane Street Group, LLC	232K	$590,392
Group One Trading LLC	31K	$78,887
Xtx Topco Ltd	30K	$75,569
Exoduspoint Capital Management, LPHedge fund	29K	$74,544
Imc-Chicago, LLC	28K	$70,581
American Century Companies IncActive manager	19K	$49,422
Scientech Research LLC	14K	$36,455
Rialto Wealth Management, LLC	191	$488
National Bank Of Canada	132	$337

Sold out

largest by value

Institution	Shares	Value March 31, 2026
Millennium Management LLCHedge fund	217K	$536,299
Marshall Wace, LLPHedge fund	183K	$450,901
Ieq Capital, LLC	126K	$312,322
Parafi Capital LP	50K	$124,439
Brevan Howard Capital Management LPHedge fund	39K	$96,893
Omers Administration Corp	36K	$87,932
Capital Investment Advisors, LLC	21K	$51,944
Schonfeld Strategic Advisors LLCHedge fund	19K	$47,915
Catalyst Funds Management Pty Ltd	18K	$45,201
Virtu Financial LLC	11K	$27,000

Who holds the shares

13F holdings at June 30, 2026

Institutions reporting: 40
Ten largest holders: 91.8%
Index fund managers: 13.0%
Active managers and hedge funds: 35.0%

Buying and selling by type of institution, March 31, 2026 to June 30, 2026
Type	Bought	Sold	New	Sold out	Net change in shares	Net %
Active managers and hedge funds	4	5	2	4	−482K	−7.8%
Index fund managers	1	6	0	0	−67K	−1.5%
Other institutions	13	14	9	10	+733K	+15.3%

Active managers and hedge funds: a list we maintain of about 400 well-known stock-picking firms and hedge funds, matched by SEC registration number (CIK) and checked against the filer names each quarter. Index fund managers: the large index houses, such as BlackRock, Vanguard, State Street, Geode and Northern Trust. Every other filer (banks, brokers, wealth managers, pension funds, insurers and firms not on the list) counts as another institution. A firm that files under several SEC registrations appears once for each.

What these filings can and cannot tell you

Form 13F lists the long positions in US-listed shares held by investment managers with more than $100 million in such holdings. Managers file it up to 45 days after each quarter ends, so this page shows what funds held at the end of each quarter, not what they are doing now: a position may have changed since. Short positions, most derivatives and smaller managers are not included, and a cut can mean a fund lost clients or rebalanced rather than a view on TON Strategy.

Only managers that filed a holdings report for both quarters are compared (51 here). 3 other holders are left out: first-time or late filers, firms that changed their SEC registration, and filings that withheld positions under confidential treatment, any of which would otherwise look like a new position or a sale. Figures are as reported by each manager in the SEC's quarterly 13F data sets; option positions are excluded.

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