# EDGAR Filing Document

**Accession Number:** 0001912562
**File Stem:** 0000950103-26-002250
**Filing Date:** 2026-2
**Character Count:** 15673
**Document Hash:** 905b709155a122a95f3e8952cb012fbd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950103-26-002250.hdr.sgml**: 20260218

**ACCESSION NUMBER**: 0000950103-26-002250

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260218

**DATE AS OF CHANGE**: 20260218

**EFFECTIVENESS DATE**: 20260218

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Galaxy Group Investments LLC
- **CENTRAL INDEX KEY:** 0001912562

**ORGANIZATION NAME:**
- **EIN:** 810864207
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-26629
- **FILM NUMBER:** 26645717

**BUSINESS ADDRESS:**
- **STREET 1:** 107 GRAND STREET, 8TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10013
- **BUSINESS PHONE:** 212 390 9173

**MAIL ADDRESS:**
- **STREET 1:** 107 GRAND STREET, 8TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10013

### 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:** Galaxy Group Investments LLC<br>**Address:** 107 GRAND STREET 8TH FLOOR<br>NEW YORK, NY 10013

**Form 13F File Number:** 028-26629

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:** Anthony Paquette<br>**Title:** Attorney-in-Fact for Galaxy Group Investments LLC<br>**Phone:** 212-390-9216

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

/s/ Anthony Paquette  New York, NY  02-18-2026<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:** 7

**Form 13F Information Table Entry Total:** 113

**Form 13F Information Table Value Total:** $958700414

      (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   |
|:---|:---|:---|
|  | Galaxy Digital LLC                |  |
|  | Galaxy Digital GP LLC             |  |
|  | Galaxy Digital LP                 |  |
|  | Galaxy Digital Holdings LP        |  |
|  | Galaxy Digital Inc.               |  |
|  | Galaxy Digital Trading Cayman LLC |  |
|  | Novogratz Michael                 |  |

### 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 |
| 1RT ACQUISITION CORP. | *W EXP 06/26/203 | G6757R113 |  | 7251 | 12500 | SH |  | DFND | 1234567 | 12500 | 0 | 0 |
| ADOBE INC | COM | 00724F101 |  | 1318762 | 3768 | SH |  | OTR |  | 0 | 3768 | 0 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 |  | 15412887 | 105150 | SH |  | DFND | 1234567 | 105150 | 0 | 0 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 |  | 13925100 | 95000 | SH |  | DFND | 7 | 95000 | 0 | 0 |
| ALLIANT ENERGY CORP | COM | 018802108 |  | 67675 | 1041 | SH |  | OTR |  | 0 | 1041 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 4279962 | 13674 | SH |  | OTR |  | 0 | 13674 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 1032900 | 3300 | SH | Put | OTR |  | 0 | 3300 | 0 |
| AMPHENOL CORP NEW | CL A | 032095101 |  | 31082 | 230 | SH |  | OTR |  | 0 | 230 | 0 |
| APPLIED MATLS INC | COM | 038222105 |  | 2184415 | 8500 | SH |  | OTR |  | 0 | 8500 | 0 |
| APPLIED MATLS INC | COM | 038222105 |  | 873766 | 3400 | SH | Put | OTR |  | 0 | 3400 | 0 |
| ARK 21SHARES BITCOIN ETF | SHS BEN INT | 040919102 |  | 148612200 | 5117500 | SH |  | DFND | 1234567 | 5117500 | 0 | 0 |
| AVAX ONE TECHNOLOGY LTD | COM SHS | 05353F108 |  | 639831 | 423729 | SH |  | DFND | 1234567 | 423729 | 0 | 0 |
| BITCOIN DEPOT INC | *W EXP 06/30/202 | 09174P113 |  | 44920 | 400000 | SH |  | DFND | 1234567 | 400000 | 0 | 0 |
| BITFARMS LTD | COM | 09173B107 |  | 4431461 | 1885728 | SH |  | OTR |  | 0 | 1885728 | 0 |
| BITFARMS LTD | COM | 09173B107 |  | 1071835 | 456100 | SH | Put | OTR |  | 0 | 456100 | 0 |
| BLACKROCK INC | COM | 09290D101 |  | 1945878 | 1818 | SH |  | OTR |  | 0 | 1818 | 0 |
| BLACKROCK INC | COM | 09290D101 |  | 535170 | 500 | SH | Put | OTR |  | 0 | 500 | 0 |
| BNB PLUS CORP | COM NEW | 03815U607 |  | 231498 | 188210 | SH |  | DFND | 1234567 | 188210 | 0 | 0 |
| BULLISH | ORD SHS | G16910120 |  | 23668750 | 625000 | SH |  | DFND | 1234567 | 625000 | 0 | 0 |
| CANAAN INC | SPONSORED ADS | 134748102 |  | 12075000 | 17500000 | SH |  | DFND | 1234567 | 17500000 | 0 | 0 |
| CENTRUS ENERGY CORP | CLA | 15643U104 |  | 9710 | 40 | SH |  | OTR |  | 0 | 40 | 0 |
| CIPHER MINING INC | COM | 17253J106 |  | 4394805 | 297751 | SH |  | OTR |  | 0 | 297751 | 0 |
| CIPHER MINING INC | COM | 17253J106 |  | 885600 | 60000 | SH | Put | OTR |  | 0 | 60000 | 0 |
| CLEANSPARK INC | COM NEW | 18452B209 |  | 5128270 | 506746 | SH |  | OTR |  | 0 | 506746 | 0 |
| CLEANSPARK INC | COM NEW | 18452B209 |  | 1047420 | 103500 | SH | Put | OTR |  | 0 | 103500 | 0 |
| COHERENT CORP | COM | 19247G107 |  | 83241 | 451 | SH |  | OTR |  | 0 | 451 | 0 |
| CORE SCIENTIFIC INC NEW | COM | 21874A106 |  | 11422902 | 784540 | SH |  | OTR |  | 0 | 784540 | 0 |
| DBX ETF TR | XTRACK HRVST CSI | 233051879 |  | 5182088 | 157750 | SH |  | DFND | 1234567 | 157750 | 0 | 0 |
| DBX ETF TR | XTRACK HRVST CSI | 233051879 |  | 3613500 | 110000 | SH | Call | DFND | 1234567 | 0 | 0 | 0 |
| DEFI TECHNOLOGIES INC | COM | 244916102 |  | 3751641 | 4971695 | SH |  | DFND | 1234567 | 4971695 | 0 | 0 |
| EATON CORP PLC | SHS | G29183103 |  | 35673 | 112 | SH |  | OTR |  | 0 | 112 | 0 |
| ENTERGY CORP NEW | COM | 29364G103 |  | 80229 | 868 | SH |  | OTR |  | 0 | 868 | 0 |
| ETORO GROUP LTD | SHS CL A | G32089107 |  | 1408818 | 40103 | SH |  | OTR |  | 0 | 40103 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 37546 | 312 | SH |  | OTR |  | 0 | 312 | 0 |
| FIGURE TECHNOLOGY SOLUTIO | COM CL A | 349381103 |  | 629344 | 15410 | SH |  | OTR |  | 0 | 15410 | 0 |
| FIGURE TECHNOLOGY SOLUTIO | COM CL A | 349381103 |  | 151108 | 3700 | SH | Put | OTR |  | 0 | 3700 | 0 |
| FORWARD INDS INC N Y | COM NEW | 349862409 |  | 53594594 | 8108108 | SH |  | DFND | 1234567 | 8108108 | 0 | 0 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 50892 | 1002 | SH |  | OTR |  | 0 | 1002 | 0 |
| FUTURECREST ACQUISITION CORP | UNIT 99/99/9999 | G3730U123 |  | 2048000 | 200000 | SH |  | DFND | 1234567 | 200000 | 0 | 0 |
| GRAYSCALE BITCOIN TRUST ETF | SHS REP COM UT | 389637109 |  | 569781 | 8335 | SH |  | DFND | 1234567 | 8335 | 0 | 0 |
| HCM III ACQUISITION CORP | *W EXP 07/23/203 | G4365E111 |  | 7450 | 14900 | SH |  | DFND | 1234567 | 14900 | 0 | 0 |
| HUBBELL INC | COM | 443510607 |  | 85269 | 192 | SH |  | OTR |  | 0 | 192 | 0 |
| HUT 8 CORP | COM | 44812J104 |  | 1295186 | 28193 | SH |  | OTR |  | 0 | 28193 | 0 |
| HYPERLIQUID STRATEGIES INC | COM | 44916Y106 |  | 15167295 | 4260476 | SH |  | DFND | 1234567 | 4260476 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 5946022 | 31040 | SH |  | DFND | 1234567 | 31040 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 2873400 | 15000 | SH | Call | DFND | 1234567 | 0 | 0 | 0 |
| INVESCO GALAXY BITCOIN ETF | COM SHS BEN INT | 46091J101 |  | 63198250 | 725000 | SH |  | DFND | 1234567 | 725000 | 0 | 0 |
| INVESCO GALAXY ETHEREUM ETF | SHS | 46148D107 |  | 8575300 | 290000 | SH |  | DFND | 1234567 | 290000 | 0 | 0 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 302378728 | 6090206 | SH |  | DFND | 1234567 | 6090206 | 0 | 0 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 79440000 | 1600000 | SH | Put | DFND | 1234567 | 0 | 0 | 1600000 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 1174223 | 23650 | SH |  | OTR |  | 0 | 23650 | 0 |
| ISHARES ETHEREUM TR | SHS | 46438R105 |  | 12468613 | 555890 | SH |  | DFND | 1234567 | 555890 | 0 | 0 |
| ISHARES ETHEREUM TR | SHS | 46438R105 |  | 1161605 | 51788 | SH |  | OTR |  | 0 | 51788 | 0 |
| ISHARES INC | MSCI BRAZIL ETF | 464286400 |  | 2065050 | 65000 | SH | Call | DFND | 1234567 | 0 | 0 | 0 |
| ISHARES SILVER TR | ISHARES | 46428Q109 |  | 3704150 | 57500 | SH | Call | DFND | 1234567 | 0 | 0 | 0 |
| ISHARES SILVER TR | ISHARES | 46428Q109 |  | 4850826 | 75300 | SH | Put | DFND | 1234567 | 0 | 0 | 75300 |
| ISHARES TR | EXPANDED TECH | 464287515 |  | 2378025 | 22500 | SH |  | DFND | 1234567 | 22500 | 0 | 0 |
| ISHARES TR | MSCI USA QLT FCT | 46432F339 |  | 993100 | 5000 | SH |  | DFND | 1234567 | 5000 | 0 | 0 |
| ISHARES TR | MSCI USA MMENTM | 46432F396 |  | 550682 | 2200 | SH |  | DFND | 1234567 | 2200 | 0 | 0 |
| ISHARES TR | US HOME CONS ETF | 464288752 |  | 192600 | 2000 | SH |  | DFND | 1234567 | 2000 | 0 | 0 |
| ISHARES TR | CHINA LG-CAP ETF | 464287184 |  | 2735500 | 50000 | SH | Call | DFND | 1234567 | 0 | 0 | 0 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 2156618 | 6693 | SH |  | OTR |  | 0 | 6693 | 0 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 1611100 | 5000 | SH | Put | OTR |  | 0 | 5000 | 0 |
| K WAVE MEDIA LTD | ORD SHS | G53151109 |  | 164000 | 400000 | SH |  | DFND | 1234567 | 400000 | 0 | 0 |
| KRANESHARES TRUST | CSI CHI INTERNET | 500767306 |  | 1130460 | 33200 | SH |  | DFND | 1234567 | 33200 | 0 | 0 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 1400937 | 8184 | SH |  | OTR |  | 0 | 8184 | 0 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 564894 | 3300 | SH | Put | OTR |  | 0 | 3300 | 0 |
| LANDBRIDGE COMPANY LLC | CL A | 514952100 |  | 36204 | 739 | SH |  | OTR |  | 0 | 739 | 0 |
| LINCOLN EDL SVCS CORP | COM | 533535100 |  | 21928 | 908 | SH |  | OTR |  | 0 | 908 | 0 |
| MARA HOLDINGS INC | COM | 565788106 |  | 601660 | 67000 | SH | Put | OTR |  | 0 | 67000 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 1761165 | 3085 | SH |  | OTR |  | 0 | 3085 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 1255936 | 2200 | SH | Put | OTR |  | 0 | 2200 | 0 |
| MERCADOLIBRE INC | COM | 58733R102 |  | 1571123 | 780 | SH |  | OTR |  | 0 | 780 | 0 |
| MF INTL LTD | SHS NEW CL A | G6065C121 |  | 1858000 | 100000 | SH |  | DFND | 1234567 | 100000 | 0 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 4815152 | 16871 | SH |  | OTR |  | 0 | 16871 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 1198722 | 4200 | SH | Put | OTR |  | 0 | 4200 | 0 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 1735888 | 9778 | SH |  | OTR |  | 0 | 9778 | 0 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 1295969 | 7300 | SH | Put | OTR |  | 0 | 7300 | 0 |
| NORTHERN DYNASTY MINERALS LT | COM NEW | 66510M204 |  | 405000 | 150000 | SH | Call | DFND | 1234567 | 0 | 0 | 0 |
| NVENT ELECTRIC PLC | SHS | G6700G107 |  | 911816 | 8942 | SH |  | OTR |  | 0 | 8942 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 1044400 | 5600 | SH |  | DFND | 1234567 | 5600 | 0 | 0 |
| POWELL INDS INC | COM | 739128106 |  | 1532375 | 4807 | SH |  | OTR |  | 0 | 4807 | 0 |
| PROCAP FINL INC | COM SHS | 74277P105 |  | 2206250 | 625000 | SH |  | DFND | 1234567 | 625000 | 0 | 0 |
| RIOT PLATFORMS INC | COM | 767292105 |  | 7848279 | 619438 | SH |  | OTR |  | 0 | 619438 | 0 |
| RIOT PLATFORMS INC | COM | 767292105 |  | 1586284 | 125200 | SH | Put | OTR |  | 0 | 125200 | 0 |
| ROBINHOOD MKTS INC | COM CL A | 770700102 |  | 1654653 | 14630 | SH |  | OTR |  | 0 | 14630 | 0 |
| ROBINHOOD MKTS INC | COM CL A | 770700102 |  | 407160 | 3600 | SH | Put | OTR |  | 0 | 3600 | 0 |
| SANDISK CORP | COM | 80004C200 |  | 1688247 | 7112 | SH |  | OTR |  | 0 | 7112 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET ENE | 81369Y506 |  | 4471000 | 100000 | SH | Call | DFND | 1234567 | 0 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET IND | 81369Y704 |  | 4700136 | 30300 | SH | Call | DFND | 1234567 | 0 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET FIN | 81369Y605 |  | 2190800 | 40000 | SH | Call | DFND | 1234567 | 0 | 0 | 0 |
| SHIFT4 PMTS INC | CL A | 82452J109 |  | 560559 | 8902 | SH |  | DFND | 1234567 | 8902 | 0 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 2655277 | 6700 | SH |  | DFND | 1234567 | 6700 | 0 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 2932694 | 7400 | SH | Call | DFND | 1234567 | 0 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A870 |  | 1036405 | 8500 | SH |  | DFND | 1234567 | 8500 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A888 |  | 463320 | 4500 | SH |  | DFND | 1234567 | 4500 | 0 | 0 |
| SSGA ACTIVE TR | SPDR GALAXY HEDG | 78470P648 |  | 23385535 | 590000 | SH |  | DFND | 1234567 | 590000 | 0 | 0 |
| STUBHUB HLDGS INC | CL A | 86384P109 |  | 4584492 | 338839 | SH |  | DFND | 7 | 338839 | 0 | 0 |
| STUBHUB HLDGS INC | CL A | 86384P109 |  | 4488009 | 331708 | SH |  | DFND | 1234567 | 331708 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 2592486 | 8531 | SH |  | OTR |  | 0 | 8531 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 638169 | 2100 | SH | Put | OTR |  | 0 | 2100 | 0 |
| TERAWULF INC | COM | 88080T104 |  | 1337126 | 116373 | SH |  | OTR |  | 0 | 116373 | 0 |
| TERRESTRIAL ENERGY INC | COM SHS | 881454102 |  | 3055000 | 500000 | SH |  | DFND | 1234567 | 500000 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 51268 | 114 | SH |  | OTR |  | 0 | 114 | 0 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 886194 | 4640 | SH |  | DFND | 1234567 | 4640 | 0 | 0 |
| VERTIV HOLDINGS CO | COM CL A | 92537N108 |  | 3370294 | 20803 | SH |  | OTR |  | 0 | 20803 | 0 |
| VERTIV HOLDINGS CO | COM CL A | 92537N108 |  | 810050 | 5000 | SH | Put | OTR |  | 0 | 5000 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 1770033 | 5047 | SH |  | OTR |  | 0 | 5047 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 1297627 | 3700 | SH | Put | OTR |  | 0 | 3700 | 0 |
| VISTRA CORP | COM | 92840M102 |  | 42752 | 265 | SH |  | OTR |  | 0 | 265 | 0 |
| VOLATILITY SHS TR | SOLANA ETF | 92864M822 |  | 1200248 | 94211 | SH |  | OTR |  | 0 | 94211 | 0 |
| WILLOW LANE ACQUISITION CORP | ORD SHS CL A | G9675P102 |  | 1330941 | 105296 | SH |  | OTR |  | 0 | 105296 | 0 |
| ZOOM COMMUNICATIONS INC | CL A | 98980L101 |  | 8629000 | 100000 | SH | Call | DFND | 1234567 | 0 | 0 | 0 |

---