FNY Investment Advisers, LLC

Quant stat arb Low signal CIK 1742998
League rank
#113
in Quant stat arb · #3823 overall
Long book
$228.1M
Q1 2026
Positions
728
Top-10 weight
24%
concentration
Last quarter
+11.5%
SPY +14.8%
Turnover
57%
of book per quarter

Strategy in plain words

auto-generated from filings

FNY Investment Advisers, LLC is a quantitative fund whose holdings reflect models, not opinions, running a $228.1M US long book across 728 positions.

The portfolio is broadly diversified across 728 positions (top 10 only 24%). Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: GLOBAL X COPPER MINERS ETF, CODERE ONLINE LUXEMBOURG SA, SEALED AIR CORP, LEARWATER ANALYTICS HLDGS I, FONAR CORP.

Over the last 9 quarters its long book ran on average 0.9pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.

Implied long-book return vs S&P 500

methodology: positions priced quarterly, no shorts/options
Fund long book S&P 500
Q1 2024
-1.4%
Q2 2024
+8.8%
Q3 2024
+0.6%
Q4 2024
-3.8%
Q1 2025
+19.0%
Q2 2025
+11.7%
Q3 2025
+2.0%
Q4 2025
-0.4%
Q1 2026
+11.5%

Sector allocation

Technology
20%
Financials
16%
Other
14%
Industrials
14%
Services media
12%
Healthcare
7%
Materials
6%
Communications
4%

Long book by quarter

$165.3M
Q1 2024
$148.3M
Q2 2024
$206.9M
Q3 2024
$192.8M
Q4 2024
$163.7M
Q1 2025
$235.2M
Q2 2025
$309.7M
Q3 2025
$352.3M
Q4 2025
$228.1M
Q1 2026

What does FNY Investment own?

Q1 2026 13F
CompanySectorSharesValue% of bookChange
CDRO CODERE ONLINE LUXEMBOURG SAServices media962.4K$8.2M3.6%+13.1%
SDA SEALED AIR CORPServices media151.9K$6.4M2.8%New
FOA FONAR CORPFinancials252.8K$4.7M2.1%New
WIX WIX.COM LTDTechnology49.8K$4.5M2.0%+3219.4%
DE DEERE & COIndustrials7.6K$4.3M1.9%-11.6%
AM6 AMICUS THERAPEUTICS INC278.7K$4.0M1.8%+680.6%
CME CME GROUP INCFinancials12.6K$3.7M1.6%+12500.0%
SA SEABRIDGE GOLD INCMaterials129.9K$3.7M1.6%+576.2%
NSC NORFOLK SOUTHERN CORPIndustrials11.3K$3.2M1.4%-13.2%
WLAC WILLOW LANE ACQUISITION-CL A287.0K$3.1M1.3%+14.4%
430 TERNS PHARMACEUTICALS INC56.7K$3.0M1.3%+2736.0%
AZN ASTRAZENECA PLCHealthcare200$2.9M1.3%Held
WBD WARNER BROS DISCOVERY INCCommunications106.0K$2.9M1.3%+130.4%
CPPTL COPPER PROPERTY CTL PASS THRReal estate257.7K$2.8M1.2%-15.8%
SKYT SKYWATER TECHNOLOGY INCTechnology100.0K$2.7M1.2%+874.1%
APLSUSD APELLIS PHARMACEUTICALS INC63.1K$2.5M1.1%New
ASML ASML HOLDING NV-NY REG SHSIndustrials1.6K$2.0M0.9%+14.3%
KVUE KENVUE INCOther115.9K$2.0M0.9%-44.7%
BA BOEING CO/THEIndustrials9.8K$2.0M0.9%-12.6%
RACE FERRARI NVIndustrials5.0K$1.7M0.7%New
MCD MCDONALD'S CORPConsumer discretionary5.3K$1.6M0.7%+503.6%
KINS KINGSTONE COS INCFinancials111.0K$1.6M0.7%+130.7%
PANW PALO ALTO NETWORKS INCTechnology10.1K$1.6M0.7%New
PCAP PROCAP ACQUISITION CORP - AFinancials149.0K$1.5M0.7%-20.1%
B BARRICK MINING CORPMaterials36.7K$1.5M0.7%+15604.7%
FCRS FUTURECREST ACQUISITION-CL AFinancials148.4K$1.5M0.7%+13.3%
LLY ELI LILLY & COHealthcare1.6K$1.5M0.6%+16.3%
SNPS SYNOPSYS INCTechnology3.6K$1.4M0.6%+33.9%
AL AIR LEASE CORP21.9K$1.4M0.6%New
KMB KIMBERLY-CLARK CORPOther14.5K$1.4M0.6%-18.4%
PYPL PAYPAL HOLDINGS INCServices media30.8K$1.4M0.6%+20.8%
AMD ADVANCED MICRO DEVICESTechnology6.7K$1.4M0.6%+123.7%
META META PLATFORMS INC-CLASS ATechnology2.3K$1.3M0.6%+23.7%
GNSS GENASYS INCIndustrials675.6K$1.2M0.5%-34.7%
ECHO ECHOSTAR CORP-ACommunications10.1K$1.2M0.5%-51.9%
NVDA NVIDIA CORPTechnology6.8K$1.2M0.5%-80.1%
UPS UNITED PARCEL SERVICE-CL BIndustrials11.9K$1.2M0.5%+636.5%
KO COCA-COLA CO/THEConsumer staples14.7K$1.1M0.5%+260.1%
PEP PEPSICO INCConsumer staples7.2K$1.1M0.5%+323.5%
MBAV M3-BRIGADE ACQUISITION V-AFinancials97.9K$1.1M0.5%-38.7%
UWMC UWM HOLDINGS CORPFinancials286.3K$1.0M0.5%+21.8%
AUR AURORA INNOVATION INCTechnology248.4K$1.0M0.4%-9.7%
PPB FLUTTER ENTERTAINMENT PLC-DI9.8K$1.0M0.4%+58.9%
NAVN NAVAN INC-CL ATechnology72.8K$963K0.4%+978.8%
DYNC DYNAMIX CORPFinancials91.6K$958K0.4%-41.6%
BCAR D. BORAL ARC ACQUISIT - CL ATechnology90.7K$917K0.4%New
SGML SIGMA LITHIUM CORPMaterials69.5K$857K0.4%+441.9%
ENVX ENOVIX CORPTechnology160.8K$832K0.4%-5.1%
CROX CROCS INCOther10.0K$830K0.4%New
LASR NLIGHT INCTechnology14.5K$826K0.4%-67.1%

13F filing history

PeriodFormFiledEntriesReported valueFlagsSource
Q1 202613F-HRApr 15, 2026840$228.8M $K fixed canonicalSEC ↗
Q4 202513F-HRJan 16, 2026992$354.8M $K fixed canonicalSEC ↗
Q3 202513F-HRDec 15, 20251462$311.8M $K fixed canonicalSEC ↗
Q2 202513F-HRJul 30, 20251100$236.6M $K fixed canonicalSEC ↗
Q1 202513F-HRApr 17, 2025829$164.4M $K fixed canonicalSEC ↗
Q4 202413F-HRJan 13, 2025742$193.7M $K fixed canonicalSEC ↗
Q3 202413F-HROct 18, 2024755$208.0M $K fixed canonicalSEC ↗
Q2 202413F-HRAug 5, 2024526$149.1M $K fixed canonicalSEC ↗
Q1 202413F-HRMay 3, 2024767$166.2M $K fixed canonicalSEC ↗