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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
TVGNW icon
176
Tevogen Inc. Warrant
TVGNW
$899K
– –
0
– –
BCARW
177
D. Boral ARC Acquisition I Corp Warrant
BCARW
$7.7M
– –
0
– –
AXINR
178
Axiom Intelligence Acquisition Corp 1 Right
AXINR
$57.6K ﹤0.01%
+359,794
New +$55.3K
KVACW
179
DELISTED
Keen Vision Acquisition Corp Warrant
KVACW
– –
0
– –
COLAR
180
Columbus Acquisition Corp Rights
COLAR
$56.1K ﹤0.01%
297,670
– –
OPTXW icon
181
Syntec Optics Holdings Warrant
OPTXW
$16.1M
– –
0
– –
JACS.RT
182
Jackson Acquisition Co II Rights
JACS.RT
$53.2K ﹤0.01%
197,115
– –
SOCAW
183
Solarius Capital Acquisition Corp Warrant
SOCAW
$2.16M
– –
0
– –
BLUWW
184
Blue Water Acquisition Corp III Warrant
BLUWW
$3.9M
– –
0
– –
DRDBW
185
Roman DBDR Acquisition Corp II Warrants
DRDBW
$2.28M
– –
0
– –
LCCCR
186
Lakeshore Acquisition III Corp Rights
LCCCR
$51.2K ﹤0.01%
251,000
– –
OBAWW
187
Oxley Bridge Acquisition Ltd Warrants
OBAWW
$2.89M
– –
0
– –
LEGT.WS
188
DELISTED
Legato Merger Corp III Warrants
LEGT.WS
– –
0
– –
IBACR
189
IB Acquisition Corp Right
IBACR
$49.3K ﹤0.01%
615,729
-20
-0% -$1
MACIW
190
Melar Acquisition Corp I Warrant
MACIW
– –
0
– –
SCAGW
191
Scage Future Warrants
SCAGW
$715K
– –
0
– –
COPL.WS
192
Copley Acquisition Corp Warrants
COPL.WS
– –
0
– –
CRAQR
193
Cal Redwood Acquisition Corp Right
CRAQR
$46K ﹤0.01%
200,000
– –
ATMCW
194
DELISTED
AlphaTime Acquisition Corp Warrant
ATMCW
– –
0
– –
FACWW
195
Factorial Energy Inc Warrant
FACWW
$9.66M
– –
0
– –
WTGUR
196
Wintergreen Acquisition Corp Rights
WTGUR
$42K ﹤0.01%
+262,736
New +$37.3K
SOUL.RT
197
Soulpower Acquisition Corp Rights
SOUL.RT
$39.8K ﹤0.01%
209,640
+9,640
+5% +$1.81K
SHMDW
198
SCHMID Group N.V. Warrants
SHMDW
– –
0
– –
ADSEW icon
199
ADS-TEC Energy Warrant
ADSEW
– –
0
– –
TACHW
200
Titan Acquisition Corp Warrants
TACHW
$8.32M
– –
0
– –
6 7
8
9 10

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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.