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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
APADR
151
DELISTED
A Paradise Acquisition Corp Rights
APADR
$96.1K ﹤0.01%
+600,000
New +$94.5K
CAPTW
152
DELISTED
Captivision Inc Warrant
CAPTW
– –
0
– –
GPATW
153
GP-Act III Acquisition Corp Warrants
GPATW
– –
0
– –
RNWWW
154
ReNew Energy Global PLC Warrant
RNWWW
$24.1K
– –
0
– –
ALCYW
155
DELISTED
Alchemy Investments Acquisition Corp 1 Warrants
ALCYW
– –
0
– –
DTSQR
156
DT Cloud Star Acquisition Corp Right
DTSQR
$90K ﹤0.01%
450,000
– –
LPAAW
157
Launch One Acquisition Corp Warrant
LPAAW
$1.96M
– –
0
– –
CCCXW
158
DELISTED
Churchill Capital Corp X Warrants
CCCXW
– –
0
– –
RIBBR
159
Ribbon Acquisition Corp Rights
RIBBR
$88K ﹤0.01%
400,000
– –
LANV.WS
160
DELISTED
Lanvin Group Holdings Warrants
LANV.WS
– –
0
– –
FSHPR
161
Flag Ship Acquisition Corp Right
FSHPR
$86.8K ﹤0.01%
456,720
-2,528
-0.6% -$366
CAPNR
162
Cayson Acquisition Corp Right
CAPNR
$86.5K ﹤0.01%
540,013
+845
+0.2% +$149
VACHW
163
DELISTED
Voyager Acquisition Corp Warrants
VACHW
– –
0
– –
VFSWW
164
VinFast Auto Ltd Warrant
VFSWW
$573M
– –
0
– –
INACR
165
Indigo Acquisition Corp Right
INACR
$83.1K ﹤0.01%
+475,000
New +$67.6K
GRMLW
166
Greenland Mines Ltd Warrant
GRMLW
– –
0
– –
ANNAW
167
AleAnna Inc Warrant
ANNAW
$8.03M
– –
0
– –
FVNNR
168
Future Vision II Acquisition Corp Right
FVNNR
$79.9K ﹤0.01%
444,327
+97,737
+28% +$17.5K
HSPTR
169
DELISTED
Horizon Space Acquisition II Corp Right
HSPTR
$79.4K ﹤0.01%
529,297
-692
-0.1% -$118
PSQH.WS icon
170
PSQ Holdings, Inc. Warrants, Each whole warrant exercisable for 1/15th of a share of Class A common stock at an exercise price of $172.50 per share
PSQH.WS
$1.34M
– –
0
– –
CHPGR
171
ChampionsGate Acquisition Corp Rights
CHPGR
$76.3K ﹤0.01%
544,975
+601
+0.1% +$90
CCAQW
172
Collective Acquisition Corp Warrants
CCAQW
– –
0
– –
FOXXW
173
Foxx Development Holdings Warrant
FOXXW
$890K
– –
0
– –
ANSCW
174
Agriculture & Natural Solutions Acquisition Corp Warrant
ANSCW
$34.5K
– –
0
– –
ASPCR
175
A SPAC III Acquisition Corp Right
ASPCR
$63.5K ﹤0.01%
334,378
-21
-0% -$4
5 6
7
8 9

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ECP
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TCG
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CCI
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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.