Squarepoint's Strategic Portfolio Shift
Squarepoint Ops Initiates $79.8M Medline Stake, Expands Portfolio Holdings in Q4
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Squarepoint said its iShares Core S&P 500 ETF (IVV) position grew by 27.2% in the fourth quarter: it bought an additional 2,241,167 shares to total 10,478,051 shares. The IVV holding was 7.6% of Squarepoint’s portfolio and was worth $7,176,836,000 (0.95% of IVV).
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In Chart Industries (GTLS), Squarepoint increased its stake by 173.6%, buying 252,035 additional shares to hold 397,235 shares worth $81,922,000. The filings also showed Healthcare of Ontario Pension Plan Trust Fund jumping 343.1% to 531,774 shares valued at $109,668,000.
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For Medline (MDLN), Squarepoint initiated a new stake of 1,900,000 shares valued at about $79.8 million. Other institutional buying included Healthcare of Ontario Pension Plan Trust Fund adding about $63,000,000, and an insider transaction was also disclosed: Jessi L. Corcoran bought 5,000 shares at an average price of $34.15 (total $170,750).
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For Sandisk (SNDK), Squarepoint’s increase was reported as 1,003.1%, lifting its holding to 479,183 shares after buying 435,742 more; the stake was valued at $113,748,000. The article also described insider sales during the period: EVP Alper Ilkbahar sold 2,000 shares at an average price of $1,756.58 (about $3.51 million), and Director Necip Sayiner sold 579 shares at an average price of $1,503.11 (about $870,300).
Squarepoint Ops LLC entered the newly public Medline Inc. with a $79.8 million stake in the fourth quarter, buying 1,900,000 shares of the medical supplier's stock, according to SEC Filings. The quantitative hedge fund also boosted its SanDisk position by 1,003.1%, lifting its holding to 479,183 shares worth $113.7 million.
The moves are part of a broader portfolio reshaping at Squarepoint. The firm raised its iShares Core S&P 500 ETF stake by 27.2% and nearly tripled its position in Chart Industries, while trimming its Verisk Analytics stake by 10.5%, according to Fintel.
Medline Stake Marks a Big IPO Bet
Medline went public in December 2025 at $29.00 per share, raising $7.2 billion in one of the largest healthcare IPOs in years, according to Baird. Squarepoint moved in quickly, initiating its 1.9 million-share position valued at roughly $79.8 million. The stock has since pulled back about 19% from its first-day high of $41.00 to the mid-$30s by June 2026, according to Stock Titan.
Other big institutions also bought in. The Healthcare of Ontario Pension Plan added roughly $63 million worth of shares in the same period. Inside the company, Principal Accounting Officer Jessi Corcoran bought 5,000 shares at $34.15, spending $170,750 — a move that analysts at TipRanks described as a "confidence buy" following the secondary offering by Blackstone and Carlyle.
SanDisk Surge Attracts Institutions, Spooks Insiders
SanDisk shares have risen roughly 4,498% over the past year, driven by surging demand for flash storage tied to AI infrastructure, according to Investing.com. Squarepoint bought 435,742 additional shares, expanding its stake by 1,003.1% to reach 479,183 shares worth $113.7 million. Analysts at Cantor Fitzgerald set a price target of $1,800, citing $42 billion in NAND bit obligations through 2027.
Yet insiders are heading for the exit. EVP and CTO Alper Ilkbahar sold 2,000 shares at $1,756.58, pocketing about $3.51 million, according to MarketBeat. Director Necip Sayiner sold 579 shares at $1,503.11, collecting roughly $870,300. GuruFocus notes that SanDisk has recorded zero insider buys over the past year, only sells — a sharp contrast to Squarepoint's aggressive accumulation.
Chart Industries and IVV Round Out the Expansion
Squarepoint raised its Chart Industries stake by 173.6%, buying 252,035 more shares to hold 397,235 shares worth $81.9 million. The Healthcare of Ontario Pension Plan made an even bigger jump, surging 343.1% to 531,774 shares valued at $109.7 million. The parallel moves point to broad institutional conviction in industrial names tied to the U.S. energy and infrastructure buildout.
On the index side, Squarepoint added 2,241,167 shares of the iShares Core S&P 500 ETF, growing its position 27.2% to 10,478,051 shares worth $7.18 billion. That single holding now makes up 7.6% of the firm's portfolio and represents 0.95% of all IVV shares outstanding, according to Fintel. Some analysts warn that quant funds holding such large ETF slices can amplify market swings during rebalancing cycles.
Verisk Trim Signals a Harvest of Gains
While Squarepoint was building positions elsewhere, it sold 59,695 shares of Verisk Analytics, cutting its stake by 10.5%, according to Watchlist News. Verisk has been a strong performer in the data-analytics space, and the trim is widely read as profit-taking rather than a loss of confidence. Institutional ownership in Verisk remains high overall.
The pattern across all these moves — buy industrials and healthcare, trim high-valuation services stocks — fits a classic sector-rotation playbook. Squarepoint's total portfolio was valued at roughly $85 billion to $94 billion as of its May 2026 13F filing, per Quiver Quantitative. The repositioning suggests the firm is betting on tangible assets and growth sectors over mature, richly priced analytics businesses.
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