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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
+25.95%
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
$7.33B
AUM Growth
+$375M
Cap. Flow
-$1.82B
Cap. Flow %
-24.78%
Top 10 Hldgs %
37.46%
Holding
285
New
91
Increased
23
Reduced
26
Closed
51

Top Buys

Rank Stock Value
1
CYBR
CyberArk
CYBR
+$447M
2
VRNA
Verona Pharma
VRNA
+$342M
3
MRUS
Merus
MRUS
+$80.4M
4
TDS icon
Telephone and Data Systems
TDS
+$54.3M
5
CVNA icon
Carvana
CVNA
+$54.3M

Top Sells

Rank Stock Value
1
HES
Hess
HES
+$366M
2
AZEK
The AZEK Co
AZEK
+$331M
3
IPG
Interpublic Group of Companies
IPG
+$194M
4
BPMC
Blueprint Medicines
BPMC
+$133M
5
ANSS
Ansys
ANSS
+$124M

Sector Composition

Rank Sector Weight
1 Technology 13.93%
2 Consumer Discretionary 9.5%
3 Communication Services 9.1%
4 Industrials 7.93%
5 Consumer Staples 7.37%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CYBR
1
DELISTED
CyberArk
CYBR
$532M 7.25%
1,100,542
+1,042,342
+1,791% +$447M
QQQ icon
2
PUT
Invesco QQQ Trust
QQQ
$455B
$390M 5.32%
650,000
+595,000
+1,082% +$341M
K
3
DELISTED
Kellanova
K
$354M 4.83%
4,315,380
+50,377
+1% +$4.01M
VRNA
4
DELISTED
Verona Pharma
VRNA
$349M 4.76%
+3,271,623
New +$342M
FYBR
5
DELISTED
Frontier Communications
FYBR
$170M 2.32%
4,561,137
-2,808,861
-38% -$104M
META icon
6
Meta Platforms (Facebook)
META
$1.51T
$159M 2.17%
216,344
-8,500
-4% -$6.33M
IWM icon
7
PUT
iShares Russell 2000 ETF
IWM
$80.9B
$157M 2.14%
650,000
-248,000
-28% -$56.9M
MRUS
8
DELISTED
Merus
MRUS
$116M 1.58%
+1,233,909
New +$80.4M
K
9
PUT
DELISTED
Kellanova
K
$112M 1.52%
+1,362,600
New +$108M
AMZN icon
10
Amazon
AMZN
$2.5T
$106M 1.45%
485,000
+125,000
+35% +$28.3M
ARKO icon
11
ARKO Corp
ARKO
$890M
$106M 1.44%
23,139,671
– –
NVDA icon
12
NVIDIA
NVDA
$5.01T
$95.8M 1.31%
513,200
– –
T icon
13
AT&T
T
$165B
$76.1M 1.04%
2,694,934
+944,934
+54% +$26.8M
BKNG icon
14
Booking.com
BKNG
$138B
$63M 0.86%
291,550
-126,175
-30% -$28.2M
CVNA icon
15
Carvana
CVNA
$43.3B
$57.2M 0.78%
+758,750
New +$54.3M
USFD icon
16
US Foods
USFD
$21.4B
$56.4M 0.77%
736,344
+526,344
+251% +$41.8M
TDS icon
17
Telephone and Data Systems
TDS
$3.91B
$55.4M 0.76%
+1,411,700
New +$54.3M
AL
18
DELISTED
Air Lease Corp
AL
$53.5M 0.73%
840,084
+385,084
+85% +$23M
MSFT icon
19
Microsoft
MSFT
$2.84T
$52.1M 0.71%
100,584
-119,883
-54% -$61.2M
PLNT icon
20
Planet Fitness
PLNT
$4.23B
$45.2M 0.62%
435,000
+135,000
+45% +$14.4M
KBR icon
21
KBR
KBR
$4.68B
$44M 0.6%
930,847
-176,129
-16% -$8.54M
CELH icon
22
Celsius Holdings
CELH
$6.93B
$43.1M 0.59%
750,000
-160,000
-18% -$8.37M
ATI icon
23
ATI
ATI
$27B
$43.1M 0.59%
530,000
+400,000
+308% +$32.4M
MNST icon
24
Monster Beverage
MNST
$91.4B
$43.1M 0.59%
640,000
-115,000
-15% -$7.18M
CCL icon
25
Carnival Corporation Ltd
CCL
$36.1B
$41.9M 0.57%
1,450,000
+775,000
+115% +$23.4M
1
2 3 4 5

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Davidson Kempner Capital Management's Q3 2025 Portfolio in Review

As of Q3 2025, Davidson Kempner Capital Management held 285 positions worth $7.33B, up 5.4% from $6.96B the previous quarter. Its ten largest holdings account for 37% of the portfolio.

Davidson Kempner Capital Management withdrew a net $1.82B in Q3 2025, closing 51 positions and reducing 26 holdings. Its most notable exit was Hess, an estimated $366M position sold in full.

By sector, the portfolio is most concentrated in Technology at 14% of assets, up from 10% a quarter earlier, followed by Consumer Discretionary and Communication Services.

Against the trend, Davidson Kempner Capital Management opened a new position in Verona Pharma worth $349M.

  • Davidson Kempner Capital Management's largest Q3 2025 buy was Verona Pharma: 3,271,623 shares worth $349M.
  • Davidson Kempner Capital Management added most to CyberArk in Q3 2025, an estimated $447M increase.
  • Davidson Kempner Capital Management's biggest Q3 2025 reduction was Frontier Communications, cutting an estimated $104M.
  • Davidson Kempner Capital Management fully exited Hess in Q3 2025, selling an estimated $366M.
  • Davidson Kempner Capital Management's ten largest holdings make up 37% of its $7.33B portfolio in Q3 2025.
  • Davidson Kempner Capital Management opened 91 new positions and closed 51 in Q3 2025.
  • Davidson Kempner Capital Management's portfolio value rose 5.4% quarter-over-quarter to $7.33B.

Based on Davidson Kempner Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.