# EDGAR Filing Document

**Accession Number:** 0001103882
**File Stem:** 0001103882-26-000002
**Filing Date:** 2026-2
**Character Count:** 9980
**Document Hash:** cf4aa7d7b65a6b0406806525a56e4e13
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001103882-26-000002.hdr.sgml**: 20260217

**ACCESSION NUMBER**: 0001103882-26-000002

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260217

**DATE AS OF CHANGE**: 20260217

**EFFECTIVENESS DATE**: 20260217

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Paloma Partners Management Co
- **CENTRAL INDEX KEY:** 0001103882

**ORGANIZATION NAME:**
- **EIN:** 133145891
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-05431
- **FILM NUMBER:** 26641620

**BUSINESS ADDRESS:**
- **STREET 1:** TWO AMERICAN LANE
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06836
- **BUSINESS PHONE:** 203-862-8000

**MAIL ADDRESS:**
- **STREET 1:** TWO AMERICAN LANE
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06836

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PALOMA PARTNERSMANAGEMENT Co
- **DATE OF NAME CHANGE:** 20150212

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SUNRISE PARTNERS LIMITED PARTNERSHIP
- **DATE OF NAME CHANGE:** 20141113

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SUNRISE PARTNERS LIMITED PARTNERSHIP /CT
- **DATE OF NAME CHANGE:** 20120213

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**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:** Paloma Partners Management Co<br>**Address:** TWO AMERICAN LANE<br>GREENWICH, CT 06836

**Form 13F File Number:** 028-05431

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:** PEI NG<br>**Title:** CHIEF FINANCIAL OFFICER<br>**Phone:** 203-861-3227

**Signature, Place, and Date of Signing:**

PEI NG  GREENWICH, CT  02-17-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

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

[ ] **13F NOTICE.** (Check here if no holdings are reported 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:** 1

**Form 13F Information Table Entry Total:** 58

**Form 13F Information Table Value Total:** $549337152

      (round to nearest dollar)

**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.]

| No.   | Name                        | Form 13F File Number   |
|:---|:---|:---|
|  | Paloma Partners Advisors LP | 028-16676              |

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 5032760 | 23500 | SH |  | DFND | 1 | 23500 | 0 | 0 |
| AFFIRM HLDGS INC | COM CL A | 00827B106 |  | 8187449 | 110002 | SH |  | DFND | 1 | 110002 | 0 | 0 |
| ALIBABA GROUP HLDG LTD | CALL | 01609W102 |  | 58632000 | 400000 | SH | Put | DFND | 1 | 0 | 0 | 0 |
| ALIBABA GROUP HLDG LTD | NOTE  0.500% 6/0 | 01609WBG6 |  | 42017768 | 27000000 | PRN |  | DFND | 1 | 27000000 | 0 | 0 |
| ALT5 SIGMA CORP | COM | 47089W104 |  | 66000 | 60000 | SH |  | DFND | 1 | 60000 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 5539680 | 24000 | SH |  | DFND | 1 | 24000 | 0 | 0 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 2139720 | 2000 | SH |  | DFND | 1 | 2000 | 0 | 0 |
| BITDEER TECHNOLOGIES GROUP | CL A ORD SHS | G11448100 |  | 34678135 | 3093500 | SH | Call | DFND | 1 | 0 | 0 | 0 |
| BITDEER TECHNOLOGIES GROUP | CL A ORD SHS | G11448100 |  | 279006 | 24889 | SH |  | DFND | 1 | 24889 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 9690800 | 28000 | SH |  | DFND | 1 | 28000 | 0 | 0 |
| CENTURI HOLDINGS INC | COM SHS | 155923105 |  | 7575000 | 300000 | SH | Call | DFND | 1 | 0 | 0 | 0 |
| CHARTER COMMUNICATIONS INC N | CL A | 16119P108 |  | 51248125 | 245500 | SH | Put | DFND | 1 | 0 | 0 | 0 |
| CHURCHILL DOWNS INC | COM | 171484108 |  | 3640960 | 32000 | SH |  | DFND | 1 | 32000 | 0 | 0 |
| CIENA CORP | COM NEW | 171779309 |  | 935480 | 4000 | SH |  | DFND | 1 | 4000 | 0 | 0 |
| CNFINANCE HLDGS LTD | SPONSORED ADS | 18979T204 |  | 1847289 | 305337 | SH |  | DFND | 1 | 305337 | 0 | 0 |
| COHERENT CORP | COM | 19247G107 |  | 922850 | 5000 | SH |  | DFND | 1 | 5000 | 0 | 0 |
| COINBASE GLOBAL INC | NOTE  0.250% 4/0 | 19260QAF4 |  | 14061790 | 13684000 | PRN |  | DFND | 1 | 13684000 | 0 | 0 |
| CORE SCIENTIFIC INC NEW | COM | 21874A106 |  | 2693600 | 185000 | SH |  | DFND | 1 | 185000 | 0 | 0 |
| COREWEAVE INC | COM CL A | 21873S108 |  | 2685375 | 37500 | SH |  | DFND | 1 | 37500 | 0 | 0 |
| DRAFTKINGS INC NEW | COM CL A | 26142V105 |  | 4824400 | 140000 | SH |  | DFND | 1 | 140000 | 0 | 0 |
| DUTCH BROS INC | CL A | 26701L100 |  | 918300 | 15000 | SH |  | DFND | 1 | 15000 | 0 | 0 |
| ECHOSTAR CORP | NOTE  3.875%11/3 | 278768AB2 |  | 26937923 | 8030000 | PRN |  | DFND | 1 | 8030000 | 0 | 0 |
| ELAUWIT CONNECTION INC | COM | 28417M109 |  | 172111 | 33947 | SH |  | DFND | 1 | 33947 | 0 | 0 |
| FLUTTER ENTMT PLC | SHS | G3643J108 |  | 752640 | 3500 | SH |  | DFND | 1 | 3500 | 0 | 0 |
| GOODYEAR TIRE  RUBR CO | CALL | 382550101 |  | 12264000 | 1400000 | SH | Call | DFND | 1 | 0 | 0 | 0 |
| GUESS INC | NOTE  3.750% 4/1 | 401617AF2 |  | 7639252 | 7623000 | PRN |  | DFND | 1 | 7623000 | 0 | 0 |
| HASBRO INC | COM | 418056107 |  | 5166000 | 63000 | SH |  | DFND | 1 | 63000 | 0 | 0 |
| IMPINJ INC | COM | 453204109 |  | 2088120 | 12000 | SH |  | DFND | 1 | 12000 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 8671500 | 235000 | SH |  | DFND | 1 | 235000 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 12839079 | 20900 | SH | Call | DFND | 1 | 0 | 0 | 0 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 |  | 13074000 | 150000 | SH | Call | DFND | 1 | 0 | 0 | 0 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 1882980 | 11000 | SH |  | DFND | 1 | 11000 | 0 | 0 |
| LAS VEGAS SANDS CORP | COM | 517834107 |  | 2329962 | 35796 | SH |  | DFND | 1 | 35796 | 0 | 0 |
| LIBERTY MEDIA CORP DEL | DEB   4.000%11/1 | 530715AG6 |  | 740953 | 10000000 | PRN |  | DFND | 1 | 10000000 | 0 | 0 |
| LUCID GROUP INC | COM NEW | 549498202 |  | 607775 | 57500 | SH |  | DFND | 1 | 57500 | 0 | 0 |
| LUMENTUM HLDGS INC | NOTE  1.500%12/1 | 55024UAH2 |  | 10640028 | 2000000 | PRN |  | DFND | 1 | 2000000 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 3960540 | 6000 | SH |  | DFND | 1 | 6000 | 0 | 0 |
| NEBIUS GROUP N.V. | SHS CLASS A | N97284108 |  | 1130018 | 13500 | SH |  | DFND | 1 | 13500 | 0 | 0 |
| NEWELL BRANDS INC | CALL | 651229106 |  | 14147160 | 3803000 | SH | Call | DFND | 1 | 0 | 0 | 0 |
| NIO INC | NOTE  4.625%10/1 | 62914VAK2 |  | 39449906 | 42960000 | PRN |  | DFND | 1 | 42960000 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 9884500 | 53000 | SH |  | DFND | 1 | 53000 | 0 | 0 |
| OPTIMUM COMMUNICATIONS INC | CL A | 02156K103 |  | 3874071 | 2347922 | SH |  | DFND | 1 | 2347922 | 0 | 0 |
| PRIMO BRANDS CORPORATION | CLASS A COM SHS | 741623102 |  | 735750 | 45000 | SH |  | DFND | 1 | 45000 | 0 | 0 |
| RED ROCK RESORTS INC | CL A | 75700L108 |  | 4522350 | 73000 | SH |  | DFND | 1 | 73000 | 0 | 0 |
| ROKU INC | COM CL A | 77543R102 |  | 1844330 | 17000 | SH |  | DFND | 1 | 17000 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 32391200 | 47500 | SH | Put | DFND | 1 | 0 | 0 | 0 |
| STMICROELECTRONICS N V | NY REGISTRY | 861012102 |  | 1089480 | 42000 | SH |  | DFND | 1 | 42000 | 0 | 0 |
| SYNOPSYS INC | COM | 871607107 |  | 2818320 | 6000 | SH |  | DFND | 1 | 6000 | 0 | 0 |
| TAKE-TWO INTERACTIVE SOFTWAR | COM | 874054109 |  | 5888690 | 23000 | SH |  | DFND | 1 | 23000 | 0 | 0 |
| TERADYNE INC | COM | 880770102 |  | 580680 | 3000 | SH |  | DFND | 1 | 3000 | 0 | 0 |
| TRAVEL PLUS LEISURE CO | COM | 894164102 |  | 916890 | 13000 | SH |  | DFND | 1 | 13000 | 0 | 0 |
| TRIP COM GROUP LTD | NOTE  0.750% 6/1 | 89677QAB3 |  | 26512134 | 21500000 | PRN |  | DFND | 1 | 21500000 | 0 | 0 |
| V F CORP | COM | 918204108 |  | 7729200 | 427500 | SH | Call | DFND | 1 | 0 | 0 | 0 |
| VAIL RESORTS INC | COM | 91879Q109 |  | 2656000 | 20000 | SH |  | DFND | 1 | 20000 | 0 | 0 |
| VIASAT INC | COM | 92552V100 |  | 13784000 | 400000 | SH | Call | DFND | 1 | 0 | 0 | 0 |
| VIASAT INC | COM | 92552V100 |  | 5791003 | 168050 | SH |  | DFND | 1 | 168050 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 3676860 | 33000 | SH |  | DFND | 1 | 33000 | 0 | 0 |
| WYNDHAM HOTELS  RESORTS INC | COM | 98311A105 |  | 2531260 | 33500 | SH |  | DFND | 1 | 33500 | 0 | 0 |

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