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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
KOYNW
251
CSLM Digital Asset Acquisition Corp III Warrants
KOYNW
– –
0
– –
EGHAR
252
EGH Acquisition Corp Rights
EGHAR
$210 ﹤0.01%
1,000
– –
PAII.WS
253
Pyrophyte Acquisition Corp II Warrants
PAII.WS
– –
0
– –
OYSER
254
Oyster Enterprises II Acquisition Corp Rights
OYSER
$170 ﹤0.01%
+1,000
New +$170
SVIIW
255
DELISTED
Spring Valley Acquisition Corp II Warrant
SVIIW
– –
0
– –
RTACW
256
Renatus Tactical Acquisition Corp I Warrant
RTACW
$7.72M
– –
0
– –
CCIXW
257
DELISTED
Churchill Capital Corp IX Warrant
CCIXW
– –
0
– –
FLYX.WS icon
258
flyExclusive Inc Warrants
FLYX.WS
– –
0
– –
ONCHW
259
1RT Acquisition Corp Warrant
ONCHW
$2.22M
– –
0
– –
OACCW
260
Oaktree Acquisition Corp III Life Sciences Warrant
OACCW
$3.72M
– –
0
– –
DAAQW
261
Digital Asset Acquisition Corp Warrant
DAAQW
$2.76M
– –
0
– –
ACHV icon
262
Achieve Life Sciences
ACHV
$683M
– –
-132,937
Closed -$300K
ADSE icon
263
CALL
ADS-TEC Energy
ADSE
$889M
– –
-45,500
Closed -$628K
ALE
264
DELISTED
Allete
ALE
– –
-898,146
Closed -$57.5M
AMED
265
DELISTED
Amedisys
AMED
– –
-338,364
Closed -$33.3M
ATMVR
266
DELISTED
AlphaVest Acquisition Corp Right
ATMVR
– –
-267,780
Closed -$80.3K
BPMC
267
DELISTED
Blueprint Medicines
BPMC
– –
-189,822
Closed -$24.3M
DISTR
268
DELISTED
Distoken Acquisition Corporation Right
DISTR
– –
-881,380
Closed -$247K
EMCGR
269
DELISTED
Embrace Change Acquisition Corp Rights
EMCGR
– –
-205,062
Closed -$23.4K
EVRI
270
DELISTED
Everi Holdings
EVRI
– –
-690,189
Closed -$9.83M
GOSS icon
271
Gossamer Bio
GOSS
$87M
– –
-497,694
Closed -$612K
GRRR
272
CALL
Gorilla Technology Group
GRRR
$365M
– –
-6,200
Closed -$123K
HES
273
DELISTED
Hess
HES
– –
-569,964
Closed -$79M
HTZ icon
274
Hertz
HTZ
$809M
– –
-320,000
Closed -$2.19M
HTZ icon
275
PUT
Hertz
HTZ
$809M
– –
-500,000
Closed -$3.42M
9 10
11
12 13

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ECP
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TCG
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CCI
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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.