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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
HPAI
126
Helport AI
HPAI
$17.5M
$130K 0.01%
37,375
– –
BAYAR
127
DELISTED
Bayview Acquisition Corp Right
BAYAR
$129K 0.01%
809,082
-363,922
-31% -$84.6K
DYCQR
128
DELISTED
DT Cloud Acquisition Corp Right
DYCQR
$129K 0.01%
643,786
-63,264
-9% -$13.8K
USARW
129
DELISTED
USA Rare Earth Inc Warrant
USARW
– –
0
– –
SLND.WS icon
130
Southland Holdings Warrants
SLND.WS
$1.57M
– –
0
– –
PELIR
131
DELISTED
Pelican Acquisition Corp Right
PELIR
$122K 0.01%
450,000
– –
JENA.RT
132
Jena Acquisition Corp II Rights
JENA.RT
$120K 0.01%
+600,000
New +$115K
NOEMR
133
CO2 Energy Transition Corp Right
NOEMR
$115K 0.01%
588,770
-924
-0.2% -$199
QSEAR
134
Quartzsea Acquisition Corp Rights
QSEAR
$115K 0.01%
400,000
– –
RAAQW
135
DELISTED
Real Asset Acquisition Corp Warrants
RAAQW
– –
0
– –
SDHIR
136
Siddhi Acquisition Corp Right
SDHIR
$111K ﹤0.01%
550,912
– –
PACHW
137
Pioneer Acquisition I Corp Warrants
PACHW
– –
0
– –
UYSCR
138
UY Scuti Acquisition Corp Rights
UYSCR
$108K ﹤0.01%
400,000
– –
LOTWW
139
Lotus Technology Inc Warrants
LOTWW
$41.8M
– –
0
– –
HOUS
140
DELISTED
Anywhere Real Estate
HOUS
$106K ﹤0.01%
+10,000
New +$58.8K
TAVIR
141
Tavia Acquisition Corp Right
TAVIR
$106K ﹤0.01%
480,789
– –
BACCR
142
Blue Acquisition Corp Right
BACCR
$103K ﹤0.01%
+635,000
New +$94.1K
AAM.WS
143
DELISTED
AA Mission Acquisition Corp Warrants
AAM.WS
– –
0
– –
TVAIR
144
Thayer Ventures Acquisition Corporation II Rights
TVAIR
$102K ﹤0.01%
+564,913
New +$95.4K
NAMMW
145
Namib Minerals Warrants
NAMMW
$4.6M
– –
0
– –
YHNAR
146
YHN Acquisition I Ltd Right
YHNAR
$101K ﹤0.01%
655,825
+18,423
+3% +$3.04K
CUBWW
147
Lionheart Holdings Warrant
CUBWW
$5.75M
– –
0
– –
NOEMW
148
CO2 Energy Transition Corp Warrant
NOEMW
$1.24M
– –
0
– –
NETDW
149
DELISTED
Nabors Energy Transition Corp II Warrant
NETDW
– –
0
– –
RAC.WS
150
Rithm Acquisition Corp Warrants
RAC.WS
– –
0
– –
4 5
6
7 8

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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.