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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
+7.61%
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
$3.14B
AUM Growth
+$841M
Cap. Flow
+$630M
Cap. Flow %
20.09%
Top 10 Hldgs %
47.21%
Holding
351
New
83
Increased
35
Reduced
28
Closed
54

Top Buys

Rank Stock Value
1
EA
Electronic Arts
EA
+$106M
2
ELME
Elme Communities
ELME
+$95.6M
3
CYBR
CyberArk
CYBR
+$62.9M
4
NGD
New Gold Inc
NGD
+$47M
5
HOLX
Hologic
HOLX
+$44.7M

Top Sells

Rank Stock Value
1
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$103M
2
VRNA
Verona Pharma
VRNA
+$53.4M
3
TXNM
TXNM Energy Inc
TXNM
+$36.7M
4
K
Kellanova
K
+$23.2M
5
CCCX
Churchill Capital Corp X
CCCX
+$17.8M

Sector Composition

Rank Sector Weight
1 Communication Services 10.46%
2 Healthcare 7.11%
3 Financials 5.38%
4 Industrials 4.56%
5 Real Estate 3.44%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WALDW icon
251
Waldencast PLC Warrant
WALDW
$4.21M
– –
0
– –
KIDZ
252
KIDZ AI Inc Class B
KIDZ
$822K
$4.75K ﹤0.01%
+53
New +$15.1K
VACI.WS
253
Viking Acquisition Corp I Warrants
VACI.WS
– –
0
– –
CNCK
254
Coincheck Group
CNCK
$410M
$2.86K ﹤0.01%
+1,135
New +$4.47K
ADSEW icon
255
ADS-TEC Energy Warrant
ADSEW
– –
0
– –
CLDI icon
256
Calidi Biotherapeutics
CLDI
$3.96M
$1.22K ﹤0.01%
65
– –
HYAC
257
DELISTED
Haymaker Acquisition Corp 4
HYAC
$1.14K ﹤0.01%
+100
New +$1.13K
RNWWW
258
ReNew Energy Global PLC Warrant
RNWWW
$44.5K
– –
0
– –
HCMAW
259
HCM III Acquisition Corp Warrants
HCMAW
– –
0
– –
EGHAR
260
EGH Acquisition Corp Rights
EGHAR
$210 ﹤0.01%
875
-125
-13% -$33
DMIIR
261
Drugs Made In America Acquisition II Corp Right
DMIIR
$140 ﹤0.01%
+1,003
New +$143
MRNO
262
Murano Global Investments
MRNO
$16.9M
$116 ﹤0.01%
200
– –
DAAQW
263
Digital Asset Acquisition Corp Warrant
DAAQW
– –
0
– –
ARKK icon
264
PUT
ARK Innovation ETF
ARKK
$6.31B
– –
-400,000
Closed -$34.5M
BOWNR
265
DELISTED
Bowen Acquisition Corp Rights
BOWNR
– –
-85,324
Closed -$20.5K
CNNE icon
266
Cannae Holdings
CNNE
$649M
– –
-442,713
Closed -$8.11M
COHU icon
267
Cohu
COHU
$2.5B
– –
-172,602
Closed -$3.51M
CVLT icon
268
Commault Systems
CVLT
$5.61B
– –
-28,700
Closed -$5.42M
ESPR
269
DELISTED
Esperion Therapeutics
ESPR
– –
-254,265
Closed -$674K
GME icon
270
PUT
GameStop
GME
$8.6B
– –
-1,500,000
Closed -$40.9M
HOUS
271
DELISTED
Anywhere Real Estate
HOUS
– –
-10,000
Closed -$106K
HSPOR
272
DELISTED
Horizon Space Acquisition I Corp Right
HSPOR
– –
-234,163
Closed -$37.5K
HYG icon
273
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.6B
– –
-1,274,752
Closed -$103M
IRWD icon
274
Ironwood Pharmaceuticals
IRWD
$714M
– –
-537,252
Closed -$704K
K
275
DELISTED
Kellanova
K
– –
-282,735
Closed -$23.2M
9 10
11
12 13

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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 Q4 2025 Portfolio in Review

As of Q4 2025, Highbridge Capital Management held 351 positions worth $3.14B, up 37% from $2.3B the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Highbridge Capital Management deployed $630M of net new capital in Q4 2025, opening 83 new positions and adding to 35 existing holdings. Its largest new stake was Elme Communities: 5,638,128 shares worth $98.1M.

By sector, the portfolio is most concentrated in Communication Services at 10% of assets, up from 8.6% a quarter earlier, followed by Healthcare and Financials.

On the sell side, the largest reduction was Churchill Capital Corp X, an estimated $17.8M trimmed.

  • Highbridge Capital Management's largest Q4 2025 buy was Elme Communities: 5,638,128 shares worth $98.1M.
  • Highbridge Capital Management added most to Electronic Arts in Q4 2025, an estimated $106M increase.
  • Highbridge Capital Management's biggest Q4 2025 reduction was Churchill Capital Corp X, cutting an estimated $17.8M.
  • Highbridge Capital Management fully exited iShares iBoxx $ High Yield Corporate Bond ETF in Q4 2025, selling an estimated $103M.
  • Highbridge Capital Management's ten largest holdings make up 47% of its $3.14B portfolio in Q4 2025.
  • Highbridge Capital Management opened 83 new positions and closed 54 in Q4 2025.
  • Highbridge Capital Management's portfolio value rose 37% quarter-over-quarter to $3.14B.

Based on Highbridge Capital Management's 13F filing for Q4 2025, filed 11 Feb 2026.