# Tower Research Capital LLC (TRC)

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1533421. Source: https://holderbook.com/funds/1533421-tower-research-capital-llc-trc/

- Reported value: $4.1B
- Positions: 5,180
- Weight of the ten largest: 19.3%
- Filed: 2026-08-11

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $174.3M | 233,359 | 4.3% | 31 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $93.6M | 467,785 | 2.3% | 31 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $84.0M | 112,156 | 2.1% | 1 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $78.1M | 269,878 | 1.9% | 25 |
| SPDR SERIES TRUST | [SPIB](https://holderbook.com/stocks/SPIB/) | $69.7M | 2,083,008 | 1.7% | 2 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $64.8M | 56,159 | 1.6% | 26 |
| DIREXION SHARES ETF TRUST | [SOXL](https://holderbook.com/stocks/SOXL/) | $63.7M | 238,921 | 1.6% | 31 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $55.3M | 148,293 | 1.4% | 31 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $53.0M | 140,400 | 1.3% | 31 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $52.5M | 220,370 | 1.3% | 25 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $43.8M | 313,365 | 1.1% | 30 |
| ISHARES TR | [SGOV](https://holderbook.com/stocks/SGOV/) | $41.8M | 414,925 | 1.0% | 2 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $40.8M | 114,307 | 1.0% | 31 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $39.6M | 68,098 | 1.0% | 25 |
| ISHARES TR | [ITOT](https://holderbook.com/stocks/ITOT/) | $37.9M | 230,476 | 0.9% | 5 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $32.9M | 27,448 | 0.8% | 28 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $32.8M | 109,126 | 0.8% | 31 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $32.1M | 43,572 | 0.8% | 31 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $31.1M | 73,845 | 0.8% | 25 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $30.0M | 41,451 | 0.7% | 31 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $29.7M | 68,548 | 0.7% | 7 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $29.6M | 83,712 | 0.7% | 25 |
| PROSHARES TR | [TQQQ](https://holderbook.com/stocks/TQQQ/) | $28.8M | 355,068 | 0.7% | 19 |
| MARVELL TECHNOLOGY INC | [MRVL](https://holderbook.com/stocks/MRVL/) | $28.7M | 96,433 | 0.7% | 21 |
| RIO TINTO PLC | [RIO](https://holderbook.com/stocks/RIO/) | $25.9M | 272,766 | 0.6% | 24 |
| KLA CORP | [KLAC](https://holderbook.com/stocks/KLAC/) | $25.9M | 85,817 | 0.6% | 31 |
| SPDR SERIES TRUST | [SPSB](https://holderbook.com/stocks/SPSB/) | $25.5M | 848,721 | 0.6% | 2 |
| SPDR SERIES TRUST | [JNK](https://holderbook.com/stocks/JNK/) | $24.7M | 256,263 | 0.6% | 29 |
| GSK PLC | [GSK](https://holderbook.com/stocks/GSK/) | $24.3M | 463,125 | 0.6% | 16 |
| SANDISK CORP | [SNDK](https://holderbook.com/stocks/SNDK/) | $20.8M | 9,155 | 0.5% | 6 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $20.0M | 35,591 | 0.5% | 31 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $19.6M | 65,924 | 0.5% | 31 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $18.5M | 157,800 | 0.5% | 31 |
| BP PLC | [BP](https://holderbook.com/stocks/BP/) | $18.4M | 498,228 | 0.5% | 31 |
| BARCLAYS PLC | [BCS](https://holderbook.com/stocks/BCS/) | $17.9M | 666,231 | 0.4% | 1 |
| VANGUARD SCOTTSDALE FDS | [VONG](https://holderbook.com/stocks/VONG/) | $17.4M | 136,186 | 0.4% | 4 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $16.8M | 51,373 | 0.4% | 28 |
| VODAFONE GROUP PLC | [VOD](https://holderbook.com/stocks/VOD/) | $15.5M | 1,171,933 | 0.4% | 16 |
| BLACKROCK ETF TRUST II | [CLOA](https://holderbook.com/stocks/CLOA/) | $15.5M | 297,691 | 0.4% | 4 |
| DIAGEO PLC | [DEO](https://holderbook.com/stocks/DEO/) | $15.2M | 188,771 | 0.4% | 15 |
| NOVO-NORDISK A S | [NVO](https://holderbook.com/stocks/NVO/) | $15.1M | 314,106 | 0.4% | 2 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $14.7M | 37,054 | 0.4% | 31 |
| BILIBILI INC | [BILI](https://holderbook.com/stocks/BILI/) | $14.6M | 858,100 | 0.4% | 13 |
| NATWEST GROUP PLC | [NWG](https://holderbook.com/stocks/NWG/) | $14.4M | 814,534 | 0.4% | 4 |
| BRITISH AMERN TOB PLC | [BTI](https://holderbook.com/stocks/BTI/) | $14.2M | 230,620 | 0.3% | 31 |
| BHP BILLITON LIMITED | [BHP](https://holderbook.com/stocks/BHP/) | $14.0M | 168,452 | 0.3% | 1 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $13.8M | 83,007 | 0.3% | 31 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $13.6M | 27,096 | 0.3% | 26 |
| PIMCO ETF TR | [BILZ](https://holderbook.com/stocks/BILZ/) | $13.3M | 132,117 | 0.3% | 2 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $12.6M | 68,355 | 0.3% | 31 |
| INVESCO EXCH TRADED FD TR II | [QQQM](https://holderbook.com/stocks/QQQM/) | $12.4M | 40,890 | 0.3% | 5 |
| SPDR SERIES TRUST | [SPHY](https://holderbook.com/stocks/SPHY/) | $12.2M | 521,002 | 0.3% | 1 |
| MONOLITHIC PWR SYS INC | [MPWR](https://holderbook.com/stocks/MPWR/) | $11.3M | 8,143 | 0.3% | 30 |
| ING GROEP N.V. | [ING](https://holderbook.com/stocks/ING/) | $11.0M | 349,746 | 0.3% | 12 |
| ISHARES TR | [MTUM](https://holderbook.com/stocks/MTUM/) | $11.0M | 31,989 | 0.3% | 2 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $10.9M | 74,425 | 0.3% | 28 |
| NXP SEMICONDUCTORS N V | [NXPI](https://holderbook.com/stocks/NXPI/) | $10.8M | 38,307 | 0.3% | 31 |
| ASML HLDG NV | [ASML](https://holderbook.com/stocks/ASML/) | $10.5M | 5,297 | 0.3% | 31 |
| ASTERA LABS INC | [ALAB](https://holderbook.com/stocks/ALAB/) | $10.4M | 21,432 | 0.3% | 10 |
| MICROCHIP TECHNOLOGY INC. | [MCHP](https://holderbook.com/stocks/MCHP/) | $10.1M | 111,181 | 0.2% | 25 |
| PALANTIR TECHNOLOGIES INC | [PLTR](https://holderbook.com/stocks/PLTR/) | $9.9M | 85,278 | 0.2% | 24 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $9.8M | 86,961 | 0.2% | 31 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $9.7M | 38,358 | 0.2% | 26 |
| DIREXION SHARES ETF TRUST | [SPXL](https://holderbook.com/stocks/SPXL/) | $9.7M | 35,692 | 0.2% | 31 |
| ISHARES TR | [IWR](https://holderbook.com/stocks/IWR/) | $9.1M | 82,621 | 0.2% | 5 |
| SELECT SECTOR SPDR TR | [XLB](https://holderbook.com/stocks/XLB/) | $9.0M | 177,741 | 0.2% | 4 |
| SHELL PLC | [SHEL](https://holderbook.com/stocks/SHEL/) | $9.0M | 116,486 | 0.2% | 8 |
| SPDR SERIES TRUST | [BIL](https://holderbook.com/stocks/BIL/) | $8.9M | 96,945 | 0.2% | 5 |
| QXO INC | [QXO](https://holderbook.com/stocks/QXO/) | $8.8M | 507,024 | 0.2% | 5 |
| SMITH & NEPHEW PLC | [SNN](https://holderbook.com/stocks/SNN/) | $8.7M | 301,051 | 0.2% | 25 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $8.7M | 8,132 | 0.2% | 31 |
| ISHARES TR | [IWP](https://holderbook.com/stocks/IWP/) | $8.6M | 58,939 | 0.2% | 7 |
| ISHARES TR | [IBTG](https://holderbook.com/stocks/IBTG/) | $8.6M | 376,204 | 0.2% | 1 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $8.6M | 25,073 | 0.2% | 31 |
| CROWDSTRIKE HLDGS INC | [CRWD](https://holderbook.com/stocks/CRWD/) | $8.3M | 10,882 | 0.2% | 24 |
| AMPHENOL CORP | [APH](https://holderbook.com/stocks/APH/) | $8.1M | 46,045 | 0.2% | 26 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $8.1M | 15,727 | 0.2% | 31 |
| HILTON WORLDWIDE HLDGS INC | [HLT](https://holderbook.com/stocks/HLT/) | $8.0M | 24,100 | 0.2% | 26 |
| VANGUARD WORLD FD | [MGK](https://holderbook.com/stocks/MGK/) | $7.9M | 90,063 | 0.2% | 31 |
| ISHARES TR | [ITA](https://holderbook.com/stocks/ITA/) | $7.8M | 32,379 | 0.2% | 20 |
| HOWMET AEROSPACE INC | [HWM](https://holderbook.com/stocks/HWM/) | $7.7M | 28,788 | 0.2% | 25 |
| VANGUARD SCOTTSDALE FDS | [VCSH](https://holderbook.com/stocks/VCSH/) | $7.7M | 97,482 | 0.2% | 5 |
| ISHARES TR | [SOXX](https://holderbook.com/stocks/SOXX/) | $7.6M | 11,853 | 0.2% | 7 |
| BLACKROCK INC | [BLK](https://holderbook.com/stocks/BLK/) | $7.6M | 7,891 | 0.2% | 7 |
| TOPBUILD COR | [BLD](https://holderbook.com/stocks/BLD/) | $7.6M | 21,391 | 0.2% | 26 |
| ANHEUSER BUSCH INBEV SA/NV | [BUD](https://holderbook.com/stocks/BUD/) | $7.6M | 91,841 | 0.2% | 14 |
| FIRST TR EXCHANGE-TRADED FD | [QTEC](https://holderbook.com/stocks/QTEC/) | $7.5M | 22,525 | 0.2% | 8 |
| ISHARES TR | [IWN](https://holderbook.com/stocks/IWN/) | $7.5M | 33,929 | 0.2% | 31 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $7.5M | 8,020 | 0.2% | 31 |
| HONEYWELL INTL INC | [HON](https://holderbook.com/stocks/HON/) | $7.5M | 33,505 | 0.2% | 1 |
| ISHARES TR | [SHY](https://holderbook.com/stocks/SHY/) | $7.5M | 91,137 | 0.2% | 6 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $7.4M | 19,741 | 0.2% | 20 |
| AMERICAN AIRLINES GROUP INC | [AAL](https://holderbook.com/stocks/AAL/) | $7.3M | 404,411 | 0.2% | 26 |
| ISHARES TR | [IWB](https://holderbook.com/stocks/IWB/) | $7.3M | 17,761 | 0.2% | 5 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $7.1M | 28,379 | 0.2% | 31 |
| VANECK ETF TRUST | [SMH](https://holderbook.com/stocks/SMH/) | $7.0M | 10,667 | 0.2% | 3 |
| ISHARES TR | [IWV](https://holderbook.com/stocks/IWV/) | $6.9M | 16,130 | 0.2% | 1 |
| SCHWAB STRATEGIC TR | [SGVT](https://holderbook.com/stocks/SGVT/) | $6.8M | 67,586 | 0.2% | 3 |
| GOLDMAN SACHS GROUP INC | [GS](https://holderbook.com/stocks/GS/) | $6.8M | 6,689 | 0.2% | 31 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $6.7M | 48,910 | 0.2% | 26 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +33.1% | +14.8% | +18.2% | 100% |
| Q1 2026 | -3.2% | -4.6% | +1.4% | 100% |
| Q4 2025 | +1.3% | +2.4% | -1.0% | 100% |
| Q3 2025 | +9.1% | +7.8% | +1.3% | 100% |
| Q2 2025 | +10.4% | +10.5% | -0.0% | 101% |
| Q1 2025 | -5.2% | -4.6% | -0.7% | 100% |
| Q4 2024 | -2.5% | +2.1% | -4.7% | 100% |
| Q3 2024 | +5.6% | +5.4% | +0.2% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $4.1B | 5,180 |
| Q1 2026 | $3.8B | 5,080 |
| Q4 2025 | $4.1B | 5,113 |
| Q3 2025 | $3.6B | 5,190 |
| Q2 2025 | $3.7B | 5,238 |
| Q1 2025 | $3.4B | 5,123 |
| Q4 2024 | $5.0B | 5,669 |
| Q3 2024 | $3.8B | 5,681 |
| Q2 2024 | $5.9B | 5,652 |
| Q1 2024 | $4.2B | 5,827 |
| Q4 2023 | $8.1B | 5,902 |
| Q3 2023 | $3.2B | 5,923 |