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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
TOIIW
151
DELISTED
The Oncology Institute Warrant
TOIIW
$38.4K ﹤0.01%
318,710
– –
FCRS.WS
152
FutureCrest Acquisition Corp Warrants
FCRS.WS
$36.5K ﹤0.01%
+50,000
New +$39K
UHGWW
153
DELISTED
United Homes Group Warrant
UHGWW
$31.4K ﹤0.01%
95,296
– –
MBVIW
154
M3-Brigade Acquisition VI Corp Warrant
MBVIW
$30.8K ﹤0.01%
+83,333
New +$43K
SLND.WS icon
155
Southland Holdings Warrants
SLND.WS
$20.4K ﹤0.01%
237,500
– –
CXAIW icon
156
CXApp Inc Warrant
CXAIW
$955K
$16.3K ﹤0.01%
350,042
– –
BLZRW
157
Trailblazer Acquisition Corp Warrant
BLZRW
$16K ﹤0.01%
+33,333
New +$19.6K
BDMDW
158
Baird Medical Investment Holdings Warrant
BDMDW
$15K ﹤0.01%
250,000
– –
PDYNW icon
159
Palladyne AI Corp Warrants
PDYNW
$156K
$11.5K ﹤0.01%
187,499
– –
BETRW icon
160
Better Home & Finance Warrant
BETRW
$2.28M
$11K ﹤0.01%
100,000
– –
TVGNW icon
161
Tevogen Inc. Warrant
TVGNW
$976K
$10.6K ﹤0.01%
250,000
– –
OUSTZ
162
DELISTED
Ouster Inc Warrants
OUSTZ
$9.57K ﹤0.01%
150,000
– –
TALKW
163
DELISTED
Talkspace Inc Warrant
TALKW
$9.25K ﹤0.01%
616,450
– –
VLN.WS
164
DELISTED
Valens Semiconductor Ltd Warrants
VLN.WS
$8.75K ﹤0.01%
350,000
– –
SDSTW
165
Stardust Power Inc Warrant
SDSTW
$5.67M
$8.32K ﹤0.01%
83,332
– –
ZEOWW
166
Zeo Energy Corp Warrants
ZEOWW
$7.12K ﹤0.01%
200,000
– –
BZFDW icon
167
BuzzFeed Inc Warrant
BZFDW
$643K
$6.72K ﹤0.01%
266,666
– –
KIDZW
168
KIDZ AI Inc Warrants
KIDZW
$243K
$6K ﹤0.01%
500,000
– –
ECXWW
169
ECARX Holdings Warrants
ECXWW
$4.51K ﹤0.01%
100,000
– –
LNZAW icon
170
LanzaTech Global Warrant
LNZAW
$4.46K ﹤0.01%
374,999
– –
HCMAW
171
HCM III Acquisition Corp Warrants
HCMAW
$4.17K ﹤0.01%
8,333
– –
ABPWW
172
DELISTED
Abpro Holdings Warrant
ABPWW
$4.1K ﹤0.01%
250,000
– –
ONCHW
173
1RT Acquisition Corp Warrant
ONCHW
$2.22M
$3.63K ﹤0.01%
6,249
– –
ORGNW
174
DELISTED
Origin Materials Inc Warrants
ORGNW
$2.45K ﹤0.01%
521,975
– –
CELUW
175
DELISTED
Celularity Inc
CELUW
$2.44K ﹤0.01%
150,800
– –
5 6
7
8 9

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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.