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DKCM

Davidson Kempner Capital Management Portfolio holdings

AUM $8.42B
1-Year Est. Return 61.81%
This Fund
S&P 500
This Quarter Est. Return
+11.32%
1 Year Est. Return
+61.81%
3 Year Est. Return
+156.84%
5 Year Est. Return
+225.89%
10 Year Est. Return
+1,160.3%
AUM
$8.55B
AUM Growth
+$729M
Cap. Flow
-$1.74B
Cap. Flow %
-20.3%
Top 10 Hldgs %
47.45%
Holding
308
New
73
Increased
29
Reduced
25
Closed
85

Top Buys

Rank Stock Value
1
EXAS
Exact Sciences
EXAS
+$340M
2
EA
Electronic Arts
EA
+$293M
3
CFLT
Confluent
CFLT
+$217M
4
CYBR
CyberArk
CYBR
+$166M
5
DAY
Dayforce
DAY
+$125M

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
GTLS
Chart Industries
GTLS
+$102M

Sector Composition

Rank Sector Weight
1 Miscellaneous 43.41%
2 Technology 19.03%
3 Industrials 10.2%
4 Communication Services 9.7%
5 Healthcare 7.78%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$810B
$1.07B 12.48%
+1,565,000
New +$1.06B
CYBR
2
DELISTED
CyberArk
CYBR
$644M 7.53%
1,444,703
+344,161
+31% +$166M
EXAS
3
DELISTED
Exact Sciences
EXAS
$430M 5.02%
+4,230,749
New +$340M
QQQ icon
4
PUT
Invesco QQQ Trust
QQQ
$490B
$405M 4.74%
660,000
+10,000
+2% +$6.14M
EA
5
DELISTED
Electronic Arts
EA
$400M 4.67%
1,956,941
+1,451,521
+287% +$293M
GTLS
6
DELISTED
Chart Industries
GTLS
$299M 3.49%
1,447,737
-503,863
-26% -$102M
CFLT
7
DELISTED
Confluent
CFLT
$267M 3.12%
+8,829,908
New +$217M
IWM icon
8
PUT
iShares Russell 2000 ETF
IWM
$80.1B
$246M 2.88%
1,000,000
+350,000
+54% +$86M
DAY
9
DELISTED
Dayforce
DAY
$126M 1.47%
+1,814,721
New +$125M
ARKO icon
10
ARKO Corp
ARKO
$528M
$105M 1.23%
23,139,671
– –
NGD
11
DELISTED
New Gold Inc
NGD
$103M 1.2%
+11,775,006
New +$88.7M
ECHO
12
EchoStar
ECHO
$27.1B
$78.7M 0.92%
723,678
+450,000
+164% +$36.6M
B
13
Barrick Mining
B
$72.6B
$72.3M 0.84%
1,659,141
+1,309,141
+374% +$49.1M
MSFT icon
14
Microsoft
MSFT
$3.67T
$70.4M 0.82%
145,584
+45,000
+45% +$22.6M
NVTS icon
15
Navitas Semiconductor
NVTS
$3.13B
$68.8M 0.8%
+9,629,629
New +$92.7M
CSX icon
16
CSX Corp
CSX
$90.8B
$63.6M 0.74%
1,755,078
+755,078
+76% +$27M
CHRW icon
17
C.H. Robinson
CHRW
$17.5B
$62.7M 0.73%
390,000
+130,000
+50% +$19.2M
BA icon
18
Boeing
BA
$167B
$60.8M 0.71%
+280,000
New +$57.6M
TDS icon
19
Telephone and Data Systems
TDS
$4.37B
$57.9M 0.68%
1,411,700
– –
CVNA icon
20
Carvana
CVNA
$53.8B
$55.6M 0.65%
658,750
-100,000
-13% -$7.43M
NVDA icon
21
NVIDIA
NVDA
$5.45T
$53.7M 0.63%
288,200
-225,000
-44% -$41.9M
HOLX
22
DELISTED
Hologic
HOLX
$53.7M 0.63%
+720,423
New +$52.6M
META icon
23
Meta Platforms (Facebook)
META
$1.56T
$53.6M 0.63%
81,145
-135,199
-62% -$90.3M
TMUS icon
24
T-Mobile US
TMUS
$195B
$53.2M 0.62%
262,178
+87,178
+50% +$18.5M
VMC icon
25
Vulcan Materials
VMC
$33.5B
$49.9M 0.58%
175,000
+120,000
+218% +$35.2M
1
2 3 4 5

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Davidson Kempner Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Davidson Kempner Capital Management held 308 positions worth $8.55B, up 9.3% from $7.83B the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Davidson Kempner Capital Management withdrew a net $1.74B in Q4 2025, closing 85 positions and reducing 25 holdings. Its most notable exit was Kellanova, an estimated $354M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 43% of assets, up from 40% a quarter earlier, followed by Technology 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 Electronic Arts in Q4 2025, an estimated $293M 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 47% of its $8.55B portfolio in Q4 2025.
  • Davidson Kempner Capital Management opened 73 new positions and closed 85 in Q4 2025.
  • Davidson Kempner Capital Management's portfolio value rose 9.3% quarter-over-quarter to $8.55B.

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