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DKCM

Davidson Kempner Capital Management Portfolio holdings

AUM $7.33B
1-Year Est. Return 56.47%
This Fund
S&P 500
This Quarter Est. Return
+12.26%
1 Year Est. Return
+56.47%
3 Year Est. Return
+139.87%
5 Year Est. Return
+217.47%
10 Year Est. Return
+1,125.15%
AUM
$7.82B
AUM Growth
+$489M
Cap. Flow
-$922M
Cap. Flow %
-11.79%
Top 10 Hldgs %
46.06%
Holding
305
New
72
Increased
28
Reduced
24
Closed
85

Top Buys

Rank Stock Value
1
EXAS
Exact Sciences
EXAS
+$340M
2
CFLT
Confluent
CFLT
+$217M
3
CYBR
CyberArk
CYBR
+$166M
4
DAY
Dayforce
DAY
+$125M
5
NVTS icon
Navitas Semiconductor
NVTS
+$92.7M

Top Sells

Rank Stock Value
1
K
Kellanova
K
+$354M
2
VRNA
Verona Pharma
VRNA
+$349M
3
FYBR
Frontier Communications
FYBR
+$130M
4
MRUS
Merus
MRUS
+$116M
5
META icon
Meta Platforms (Facebook)
META
+$90.3M

Sector Composition

Rank Sector Weight
1 Technology 20.38%
2 Healthcare 8.51%
3 Industrials 7.34%
4 Communication Services 5.49%
5 Consumer Discretionary 4.43%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BLSH
251
Bullish
BLSH
$3.58B
– –
-111,000
Closed -$7.06M
MIAX
252
Miami International Holdings
MIAX
$4.28B
– –
-26,000
Closed -$1.05M
MBVIU
253
M3-Brigade Acquisition VI Corp Units
MBVIU
– –
-250,000
Closed -$2.53M
KLAR
254
Klarna Group
KLAR
$7.52B
– –
-125,000
Closed -$4.58M
BLZRU
255
Trailblazer Acquisition Corp Unit
BLZRU
$205M
– –
-100,000
Closed -$1.02M
FIGR
256
Figure Technology Solutions
FIGR
$6.33B
– –
-180,500
Closed -$6.56M
LGN
257
Legence Corp
LGN
$4.95B
– –
-150,000
Closed -$4.62M
VIA
258
Via Transportation Inc
VIA
$1.81B
– –
-10,000
Closed -$481K
BRCB
259
Black Rock Coffee Bar Inc
BRCB
$159M
– –
-70,000
Closed -$1.67M
GEMI
260
Gemini Space Station
GEMI
$517M
– –
-50,000
Closed -$1.2M
STUB
261
StubHub Holdings
STUB
$3.36B
– –
-904,603
Closed -$15.2M
WBI
262
WaterBridge Infrastructure LLC
WBI
$1.5B
– –
-53,000
Closed -$1.34M
NTSK
263
Netskope Inc
NTSK
$6.01B
– –
-520,863
Closed -$11.8M
DMIIU
264
Drugs Made In America Acquisition II Corp Unit
DMIIU
– –
-1,000,000
Closed -$9.95M
FCRS.U
265
FutureCrest Acquisition Corp Units
FCRS.U
– –
-200,000
Closed -$2.12M
BCSS.U
266
Bain Capital GSS Investment Corp Units
BCSS.U
– –
-1,750,000
Closed -$17.7M
7 8 9 10
11

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GLF
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Davidson Kempner Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Davidson Kempner Capital Management held 305 positions worth $7.82B, up 6.7% from $7.33B the previous quarter. Its ten largest holdings account for 46% of the portfolio.

Davidson Kempner Capital Management withdrew a net $922M in Q4 2025, closing 85 positions and reducing 24 holdings. Its most notable exit was Kellanova, an estimated $354M position sold in full.

By sector, the portfolio is most concentrated in Technology at 20% of assets, up from 14% a quarter earlier, followed by Healthcare and Industrials.

Against the trend, Davidson Kempner Capital Management opened a new position in Exact Sciences worth $430M.

  • Davidson Kempner Capital Management's largest Q4 2025 buy was Exact Sciences: 4,230,749 shares worth $430M.
  • Davidson Kempner Capital Management added most to CyberArk in Q4 2025, an estimated $166M increase.
  • Davidson Kempner Capital Management's biggest Q4 2025 reduction was Frontier Communications, cutting an estimated $130M.
  • Davidson Kempner Capital Management fully exited Kellanova in Q4 2025, selling an estimated $354M.
  • Davidson Kempner Capital Management's ten largest holdings make up 46% of its $7.82B portfolio in Q4 2025.
  • Davidson Kempner Capital Management opened 72 new positions and closed 85 in Q4 2025.
  • Davidson Kempner Capital Management's portfolio value rose 6.7% quarter-over-quarter to $7.82B.

Based on Davidson Kempner Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.