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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
(+6.7%)
Cap. Flow
-$922M
Cap. Flow
% of AUM
-11.79%
Top 10 Holdings %
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 |
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 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 | |
|---|---|---|---|---|---|---|
201
Eaton
ETN
$174B
| – | – |
-60,000
| Closed | -$22.5M |
|
202
Falcon's Beyond Global Warrants
FBYDW
$10.9M
| – | – |
-125,000
| Closed | -$210K |
|
203
Five Below
FIVE
$13.5B
| – | – |
-90,000
| Closed | -$13.9M |
|
|
GCMGW
204
DELISTED
GCM Grosvenor Inc Warrant
GCMGW
| – | – |
-143,750
| Closed | -$76.4K |
|
205
Guidewire Software
GWRE
$14.2B
| – | – |
-50,000
| Closed | -$11.5M |
|
206
HubSpot
HUBS
$10.5B
| – | – |
-25,000
| Closed | -$11.7M |
|
207
International Paper
IP
$22B
| – | – |
-325,000
| Closed | -$15.1M |
|
|
K
208
CALL
DELISTED
Kellanova
K
| – | – |
-104,400
| Closed | -$8.56M |
|
|
K
209
DELISTED
Kellanova
K
| – | – |
-4,315,380
| Closed | -$354M |
|
|
K
210
PUT
DELISTED
Kellanova
K
| – | – |
-1,362,600
| Closed | -$112M |
|
211
Lumentum
LITE
$69.3B
| – | – |
-143,900
| Closed | -$23.4M |
|
212
Lockheed Martin
LMT
$136B
| – | – |
-45,000
| Closed | -$22.5M |
|
213
Matsons
MATX
$6.18B
| – | – |
-27,000
| Closed | -$2.66M |
|
214
McDonald's
MCD
$195B
| – | – |
-95,000
| Closed | -$28.9M |
|
|
MRUS
215
DELISTED
Merus
MRUS
| – | – |
-1,233,909
| Closed | -$116M |
|
216
Ollie's Bargain Outlet
OLLI
$4.94B
| – | – |
-105,000
| Closed | -$13.5M |
|
217
Ondas Inc
ONDS
$5.19B
| – | – |
-350,000
| Closed | -$2.7M |
|
218
Oracle
ORCL
$423B
| – | – |
-50,000
| Closed | -$14.1M |
|
219
Impinj
PI
$5.6B
| – | – |
-5,715
| Closed | -$1.03M |
|
220
Planet Fitness
PLNT
$3.78B
| – | – |
-435,000
| Closed | -$45.2M |
|
221
Red Cat Holdings
RCAT
$1.4B
| – | – |
-1,670,120
| Closed | -$17.3M |
|
222
Ralph Lauren
RL
$23.6B
| – | – |
-25,000
| Closed | -$7.84M |
|
223
Ross Stores
ROST
$81.9B
| – | – |
-40,000
| Closed | -$6.1M |
|
224
Starbucks
SBUX
$120B
| – | – |
-125,000
| Closed | -$10.6M |
|
|
SCS
225
DELISTED
Steelcase
SCS
| – | – |
-888,190
| Closed | -$15.3M |
|
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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.