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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
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$778B
$1.07B 13.64%
+1,565,000
New +$1.06B
CYBR
2
DELISTED
CyberArk
CYBR
$644M 8.24%
1,444,703
+344,161
+31% +$166M
EXAS
3
DELISTED
Exact Sciences
EXAS
$430M 5.49%
+4,230,749
New +$340M
QQQ icon
4
PUT
Invesco QQQ Trust
QQQ
$455B
$405M 5.18%
660,000
+10,000
+2% +$6.14M
CFLT
5
DELISTED
Confluent
CFLT
$267M 3.41%
+8,829,908
New +$217M
IWM icon
6
PUT
iShares Russell 2000 ETF
IWM
$80.9B
$246M 3.15%
1,000,000
+350,000
+54% +$86M
DAY
7
DELISTED
Dayforce
DAY
$126M 1.6%
+1,814,721
New +$125M
ARKO icon
8
ARKO Corp
ARKO
$890M
$105M 1.34%
23,139,671
– –
NGD
9
DELISTED
New Gold Inc
NGD
$103M 1.31%
+11,775,006
New +$88.7M
ECHO
10
EchoStar
ECHO
$25.5B
$78.7M 1.01%
723,678
+450,000
+164% +$36.6M
B
11
Barrick Mining
B
$62.2B
$72.3M 0.92%
1,659,141
+1,309,141
+374% +$49.1M
MSFT icon
12
Microsoft
MSFT
$2.84T
$70.4M 0.9%
145,584
+45,000
+45% +$22.6M
NVTS icon
13
Navitas Semiconductor
NVTS
$2.66B
$68.8M 0.88%
+9,629,629
New +$92.7M
CSX icon
14
CSX Corp
CSX
$98.6B
$63.6M 0.81%
1,755,078
+755,078
+76% +$27M
CHRW icon
15
C.H. Robinson
CHRW
$22B
$62.7M 0.8%
390,000
+130,000
+50% +$19.2M
BA icon
16
Boeing
BA
$165B
$60.8M 0.78%
+280,000
New +$57.6M
TDS icon
17
Telephone and Data Systems
TDS
$3.91B
$57.9M 0.74%
1,411,700
– –
CVNA icon
18
Carvana
CVNA
$43.3B
$55.6M 0.71%
658,750
-100,000
-13% -$7.43M
NVDA icon
19
NVIDIA
NVDA
$5.01T
$53.7M 0.69%
288,200
-225,000
-44% -$41.9M
HOLX
20
DELISTED
Hologic
HOLX
$53.7M 0.69%
+720,423
New +$52.6M
META icon
21
Meta Platforms (Facebook)
META
$1.51T
$53.6M 0.68%
81,145
-135,199
-62% -$90.3M
TMUS icon
22
T-Mobile US
TMUS
$193B
$53.2M 0.68%
262,178
+87,178
+50% +$18.5M
VMC icon
23
Vulcan Materials
VMC
$36.3B
$49.9M 0.64%
175,000
+120,000
+218% +$35.2M
KBR icon
24
KBR
KBR
$4.68B
$46M 0.59%
1,144,884
+214,037
+23% +$9.18M
AXTI icon
25
AXT Inc
AXTI
$3.09B
$44.7M 0.57%
+2,734,693
New +$26.4M
1
2 3 4 5

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SIMG
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GLF
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BIM
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FPP
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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.