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HCM

Highbridge Capital Management Portfolio holdings

AUM $3.09B
1-Year Est. Return 31.21%
This Fund
S&P 500
This Quarter Est. Return
+16.6%
1 Year Est. Return
+31.21%
3 Year Est. Return
+54.52%
5 Year Est. Return
+78.37%
10 Year Est. Return
+191.37%
AUM
$2.3B
AUM Growth
-$158M
Cap. Flow
-$1.36B
Cap. Flow %
-59.29%
Top 10 Hldgs %
37.61%
Holding
364
New
63
Increased
22
Reduced
27
Closed
57

Top Buys

Rank Stock Value
1
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$103M
2
VRNA
Verona Pharma
VRNA
+$52.2M
3
TXNM
TXNM Energy Inc
TXNM
+$35.1M
4
GLIBK
Liberty Capital Corp Series C GCI Group Common Stock
GLIBK
+$18.5M
5
FOX icon
Fox Class B
FOX
+$15.1M

Top Sells

Rank Stock Value
1
HES
Hess
HES
+$79M
2
ALE
Allete
ALE
+$57.5M
3
AMED
Amedisys
AMED
+$33.3M
4
SKX
Skechers
SKX
+$25.2M
5
BPMC
Blueprint Medicines
BPMC
+$24.3M

Sector Composition

Rank Sector Weight
1 Communication Services 8.64%
2 Financials 3.1%
3 Healthcare 2.77%
4 Technology 2.29%
5 Consumer Staples 1.78%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
UCFIW
226
CN Healthy Food Tech Group Warrant
UCFIW
– –
0
– –
FORLW
227
DELISTED
Four Leaf Acquisition Corp Warrants
FORLW
– –
0
– –
AERTW
228
Aeries Technology Warrant
AERTW
$945K
– –
0
– –
EVAC.WS
229
EQV Ventures Acquisition Corp II Warrants
EVAC.WS
– –
0
– –
GSRFU
230
GSR IV Acquisition Corp Units
GSRFU
$10.1K ﹤0.01%
+1,000
New +$10.1K
CHECU
231
Chenghe Acquisition III Co Units
CHECU
$9.98K ﹤0.01%
+1,000
New +$9.99K
POLEW
232
Andretti Acquisition Corp II Warrant
POLEW
$1.61M
– –
0
– –
SDSTW
233
Stardust Power Inc Warrant
SDSTW
$5.67M
– –
0
– –
ALVOW icon
234
Alvotech Warrant
ALVOW
– –
0
– –
PLMKW
235
Plum Acquisition Corp IV Warrants
PLMKW
$4.14M
– –
0
– –
SD icon
236
SandRidge Energy
SD
$503M
$6.49K ﹤0.01%
575
– –
BEAGR
237
Bold Eagle Acquisition Corp Right
BEAGR
$6.44K ﹤0.01%
23,842
– –
ATIIW
238
Archimedes Tech SPAC Partners II Co Warrant
ATIIW
$17.9M
– –
0
– –
SHMD
239
SCHMID Group
SHMD
$310M
$1.69K ﹤0.01%
+600
New +$1.61K
CLDI icon
240
Calidi Biotherapeutics
CLDI
$3.96M
$1.58K ﹤0.01%
65
– –
XRPNW
241
Armada Acquisition Corp II Warrant
XRPNW
$8.39M
– –
0
– –
TDACW
242
Translational Development Acquisition Corp Warrants
TDACW
$16.4M
– –
0
– –
MRNO
243
Murano Global Investments
MRNO
$16.9M
$524 ﹤0.01%
200
+100
+100% +$617
MCGAW
244
Yorkville Acquisition Corp Warrant
MCGAW
– –
0
– –
PMTRW
245
Perimeter Acquisition Corp I Warrant
PMTRW
$10.9M
– –
0
– –
WLACW
246
DELISTED
Willow Lane Acquisition Corp Warrants
WLACW
– –
0
– –
WENNW
247
Wen Acquisition Corp Warrant
WENNW
$4.13M
– –
0
– –
SPEGR
248
Silver Pegasus Acquisition Corp Rights
SPEGR
$250 ﹤0.01%
+1,000
New +$216
CCIIW
249
Cohen Circle Acquisition Corp II Warrant
CCIIW
$5.2M
– –
0
– –
PCAPW
250
ProCap Acquisition Corp Warrant
PCAPW
– –
0
– –
8 9
10
11 12

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MRCP
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ECP
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TCG
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PC
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CCI
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DIG
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CLG
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Highbridge Capital Management's Q3 2025 Portfolio in Review

As of Q3 2025, Highbridge Capital Management held 364 positions worth $2.3B, down 6.4% from $2.45B the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Highbridge Capital Management withdrew a net $1.36B in Q3 2025, closing 57 positions and reducing 27 holdings. Its most notable exit was Hess, an estimated $79M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 8.6% of assets, up from 6.8% a quarter earlier, followed by Financials and Healthcare.

Against the trend, Highbridge Capital Management opened a new position in iShares iBoxx $ High Yield Corporate Bond ETF worth $103M.

  • Highbridge Capital Management's largest Q3 2025 buy was iShares iBoxx $ High Yield Corporate Bond ETF: 1,274,752 shares worth $103M.
  • Highbridge Capital Management added most to TXNM Energy Inc in Q3 2025, an estimated $35.1M increase.
  • Highbridge Capital Management's biggest Q3 2025 reduction was HEICO Corp Class A, cutting an estimated $20.8M.
  • Highbridge Capital Management fully exited Hess in Q3 2025, selling an estimated $79M.
  • Highbridge Capital Management's ten largest holdings make up 38% of its $2.3B portfolio in Q3 2025.
  • Highbridge Capital Management opened 63 new positions and closed 57 in Q3 2025.
  • Highbridge Capital Management's portfolio value fell 6.4% quarter-over-quarter to $2.3B.

Based on Highbridge Capital Management's 13F filing for Q3 2025, filed 10 Nov 2025.