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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
WTGUU
301
Wintergreen Acquisition Corp Unit
WTGUU
– –
-350,000
Closed -$3.53M
QXO.PRB
302
QXO Inc 5.50% Series B Preferred Stock
QXO.PRB
$540M
– –
-154,400
Closed -$9.57M
BLUWU
303
Blue Water Acquisition Corp III Unit
BLUWU
– –
-250,000
Closed -$2.5M
BACCU
304
Blue Acquisition Corp Unit
BACCU
– –
-200,000
Closed -$2.01M
BSAAU
305
BEST SPAC I Acquisition Corp Unit
BSAAU
– –
-150,000
Closed -$1.51M
KDK
306
Kodiak AI
KDK
$865M
– –
-141,800
Closed -$1.61M
NPAC
307
New Providence Acquisition Corp III
NPAC
$400M
– –
-62,447
Closed -$634K
AXINU
308
Axiom Intelligence Acquisition Corp 1 Units
AXINU
– –
-199,993
Closed -$2.02M
PACHU
309
Pioneer Acquisition I Corp Units
PACHU
– –
-499,200
Closed -$5M
CHPG
310
ChampionsGate Acquisition Corp
CHPG
– –
-150,000
Closed -$1.5M
XRPN
311
Armada Acquisition Corp II
XRPN
$331M
– –
-50,400
Closed -$506K
RDAG
312
Republic Digital Acquisition Co
RDAG
$389M
– –
-100,000
Closed -$1.03M
FAC
313
Factorial Energy Inc
FAC
$635M
– –
-196,907
Closed -$1.97M
LWACU
314
LightWave Acquisition Corp Units
LWACU
– –
-200,000
Closed -$2.01M
OBAWU
315
Oxley Bridge Acquisition Ltd Unit
OBAWU
– –
-500,000
Closed -$5M
CAEP
316
DELISTED
Cantor Equity Partners III
CAEP
– –
-200,000
Closed -$2.11M
MCGAU
317
Yorkville Acquisition Corp Unit
MCGAU
$158M
– –
-45,275
Closed -$509K
EGHA
318
EGH Acquisition Corp
EGHA
– –
-1,000
Closed -$10K
9 10 11 12
13

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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.