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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
AFJKR
101
Aimei Health Technology Co Right
AFJKR
$193K 0.01%
643,658
-100
-0% -$36
OAKUR
102
DELISTED
Oak Woods Acquisition Corp Right
OAKUR
$188K 0.01%
941,707
-1,443
-0.2% -$377
GTERR
103
Globa Terra Acquisition Corp Rights
GTERR
$188K 0.01%
+1,251,068
New +$173K
KIDZW
104
KIDZ AI Inc Warrants
KIDZW
$228K
– –
0
– –
FIGXU
105
FIGX Capital Acquisition Corp Units
FIGXU
$146M
$181K 0.01%
22,470
-477,530
-96% -$4.8M
HCMAW
106
HCM III Acquisition Corp Warrants
HCMAW
– –
0
– –
BTMWW
107
DELISTED
Bitcoin Depot Inc Warrant
BTMWW
– –
0
– –
CNCKW
108
Coincheck Group Warrant expiring 12/10/2029
CNCKW
$1.79M
– –
0
– –
IROHR
109
DELISTED
Iron Horse Acquisitions Corp Right
IROHR
$168K 0.01%
230,000
-738,785
-76% -$362K
ESHAR
110
DELISTED
ESH Acquisition Corp Right
ESHAR
$165K 0.01%
776,705
– –
BZAIW
111
Blaize Holdings Warrants
BZAIW
$7.53M
– –
0
– –
VNMEW
112
Vendome Acquisition Corp I Warrant
VNMEW
– –
0
– –
VGASW icon
113
Verde Clean Fuels Warrant
VGASW
$756K
– –
0
– –
HPAIW
114
Helport AI Warrants
HPAIW
– –
0
– –
SIMAW
115
SIM Acquisition Corp I Warrant
SIMAW
– –
0
– –
NMPAR
116
NMP Acquisition Corp Right
NMPAR
$153K 0.01%
+730,780
New +$145K
HYAC.WS
117
DELISTED
Haymaker Acquisition Corp 4 Warrants
HYAC.WS
– –
0
– –
CRGOW icon
118
Freightos Ltd Warrant
CRGOW
$1.59M
– –
0
– –
SPKLW
119
Spark I Acquisition Corp Warrant
SPKLW
$6.25M
– –
0
– –
SBET icon
120
Sharplink Inc
SBET
$1.32B
$144K 0.01%
+8,479
New +$167K
TACOW
121
Berto Acquisition Corp Warrant
TACOW
$14.5M
– –
0
– –
GTERW
122
Globa Terra Acquisition Corp Warrants
GTERW
$950K
– –
0
– –
AMOD
123
Alpha Modus Holdings
AMOD
$21.5M
$134K 0.01%
2,813
– –
ALFUW
124
Centurion Acquisition Corp Warrant
ALFUW
– –
0
– –
QUMSR
125
Quantumsphere Acquisition Corp Rights
QUMSR
$133K 0.01%
+700,000
New +$133K
3 4
5
6 7

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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.