Cipher Digital Inc.
US ˙ NasdaqGS ˙ US17253J1060

SecurityCIFR / Cipher Digital Inc.
InstitutionQUANTITATIVE MASTER SERIES LLC - Master Small Cap Index Series
Latest Disclosed Ownership459,524 shares
Latest Disclosed Value $ 2,196,524
QUANTITATIVE MASTER SERIES LLC - Master Small Cap Index Series reports 35.32% increase in ownership of CIFR / Cipher Digital Inc.

On August 26, 2025 - QUANTITATIVE MASTER SERIES LLC - Master Small Cap Index Series filed a NPORT-P form disclosing ownership of 459,524 shares of Cipher Digital Inc. (US:CIFR) valued at $2,196,525 USD as of June 30, 2025. The entity filed a previous NPORT-P on May 28, 2025 disclosing 339,572 shares of Cipher Digital Inc.. This represents a change in shares of 35.32% during the quarter. The current value of the position is $10,316,314 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2025-08-26 2025-06-30 NP Cipher Mining EC US17253J1060 459,524 119,952 35.32 2,197 181.18 0.0493
2025-05-28 2025-03-31 NP Cipher Mining EC US17253J1060 339,572 0 0.00 781 -50.41 0.0187
2025-02-25 2024-12-31 NP Cipher Mining EC US17253J1060 339,572 -4,671 -1.36 1,576 18.24 0.0344
2024-11-26 2024-09-30 NP Cipher Mining EC US17253J1060 344,243 270,065 364.08 1,332 333.88 0.0252
2024-08-26 2024-06-30 NP Cipher Mining EC US17253J1060 74,178 0 0.00 308 -19.63 0.0063
2024-05-28 2024-03-31 NP Cipher Mining EC US17253J1060 74,178 0 0.00 382 24.84 0.0080
2024-02-26 2023-12-31 NP Cipher Mining EC US17253J1060 74,178 0 0.00 306 77.91 0.0065
2023-11-28 2023-09-30 NP Cipher Mining EC US17253J1060 74,178 0 0.00 173 -18.87 0.0045
2023-08-25 2023-06-30 NP Cipher Mining EC US17253J1060 74,178 13,817 22.89 212 51.43 0.0050
2023-05-26 2023-03-31 NP Cipher Mining EC US17253J1060 60,361 0 0.00 141 324.24 0.0037
2023-02-24 2022-12-31 NP Cipher Mining EC US17253J1060 60,361 0 0.00 34 -56.58 0.0009
2022-11-25 2022-09-30 NP Cipher Mining EC US17253J1060 60,361 0 0.00 76 -7.32 0.0022
2022-08-25 2022-06-30 NP Cipher Mining EC US17253J1060 60,361 60,361 83 0.0023
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.