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HCM

Highbridge Capital Management Portfolio holdings

AUM $3.09B
1-Year Est. Return 31.19%
This Fund
S&P 500
This Quarter Est. Return
+16.6%
1 Year Est. Return
+31.19%
3 Year Est. Return
+54.53%
5 Year Est. Return
+78.37%
10 Year Est. Return
+191.39%
AUM
$2.3B
AUM Growth
-$158M
Cap. Flow
-$1.36B
Cap. Flow %
-59.28%
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
BTSGU icon
26
BrightSpring Health Services Unit
BTSGU
$1.62B
$10.1M 0.44%
100,000
-125,016
-56% -$10.2M
HCMA
27
HCM III Acquisition Corp
HCMA
$346M
$10.1M 0.44%
+1,000,000
New +$10.1M
MKLYU
28
McKinley Acquisition Corp Units
MKLYU
$158M
$9.99M 0.44%
+1,000,000
New +$9.99M
STHO icon
29
Star Holdings Shares of Beneficial Interest
STHO
$112M
$9.84M 0.43%
1,196,132
-20,732
-2% -$168K
EMPD
30
Empery Digital
EMPD
$81M
$8.56M 0.37%
+1,138,621
New +$10.3M
CORZW icon
31
Core Scientific Inc Tranche 1 Warrants
CORZW
$1.58B
– –
0
– –
CNNE icon
32
Cannae Holdings
CNNE
$655M
$8.11M 0.35%
442,713
+48,400
+12% +$956K
GSRT
33
DELISTED
GSR III Acquisition Corp
GSRT
$7.77M 0.34%
+750,000
New +$7.93M
QUMS
34
Quantumsphere Acquisition Corp
QUMS
$112M
$5.98M 0.26%
+600,000
New +$5.98M
MRUS
35
DELISTED
Merus
MRUS
$5.52M 0.24%
+58,605
New +$3.82M
CVLT icon
36
Commault Systems
CVLT
$5.18B
$5.42M 0.24%
+28,700
New +$5.17M
TACO
37
Berto Acquisition Corp
TACO
$391M
$5.21M 0.23%
500,000
– –
HVMCU
38
Highview Merger Corp Units
HVMCU
$5.18M 0.23%
+512,296
New +$5.16M
BTDR icon
39
Bitdeer Technologies
BTDR
$2.77B
$4.85M 0.21%
283,500
– –
FCRS.U
40
FutureCrest Acquisition Corp Units
FCRS.U
$4.24M 0.18%
+400,000
New +$4.2M
SSEAU
41
Starry Sea Acquisition Corp Unit
SSEAU
$54.4M
$4.12M 0.18%
+405,851
New +$4.09M
BDCIU
42
BTC Development Corp Unit
BDCIU
$232M
$4.04M 0.18%
+400,000
New +$4.04M
JBS
43
JBS N.V.
JBS
$45.3B
$4.04M 0.18%
+270,323
New +$3.94M
AISPW
44
Airship AI Holdings Warrants
AISPW
$13.1M
– –
0
– –
JBS
45
CALL
JBS N.V.
JBS
$45.3B
$3.73M 0.16%
+250,000
New +$3.65M
APACU
46
StoneBridge Acquisition II Corp Units
APACU
$3.64M 0.16%
+365,000
New +$3.64M
WOLF icon
47
Wolfspeed
WOLF
$1.27B
$3.55M 0.15%
+124,184
New +$291K
HTZWW
48
Hertz Global Holdings Warrants
HTZWW
$64.3M
– –
0
– –
COHU icon
49
Cohu
COHU
$2.31B
$3.51M 0.15%
+172,602
New +$3.48M
GENVR
50
Gen Digital Inc Contingent Value Rights
GENVR
$3.24M 0.14%
465,074
+14,174
+3% +$128K
1
2
3 4 5

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CAM
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VBA
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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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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.