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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
HSPOR
201
DELISTED
Horizon Space Acquisition I Corp Right
HSPOR
$37.5K ﹤0.01%
234,163
+72,877
+45% +$14.4K
SVIIR
202
DELISTED
Spring Valley Acquisition Corp II Rights
SVIIR
$35.1K ﹤0.01%
69,994
-1,280,065
-95% -$413K
ORIQW
203
Origin Investment Corp I Warrant
ORIQW
– –
0
– –
FIGXW
204
FIGX Capital Acquisition Corp Warrant
FIGXW
$1.67M
– –
0
– –
RDAGW
205
Republic Digital Acquisition Co Warrants
RDAGW
– –
0
– –
CHACR
206
DELISTED
Crane Harbor Acquistion Corp Rights
CHACR
$32K ﹤0.01%
100,000
-100,000
-50% -$24.6K
OSRHW
207
OSR Health Warrant
OSRHW
– –
0
– –
SBXD.U
208
SilverBox Corp IV Units
SBXD.U
$230M
$30.9K ﹤0.01%
+35,000
New +$379K
PERF.WS
209
DELISTED
Perfect Corp Warrants
PERF.WS
– –
0
– –
GIBOW
210
GIBO Holdings Warrants
GIBOW
– –
0
– –
DAICW
211
CID HoldCo Inc Warrants
DAICW
$70.5K
– –
0
– –
KFIIR
212
K&F Growth Acquisition Corp II Rights
KFIIR
$24.7K ﹤0.01%
164,421
-25,000
-13% -$3.76K
KCHVR
213
Kochav Defense Acquisition Corp Right
KCHVR
$24.6K ﹤0.01%
+112,000
New +$23.2K
GTENW
214
Gores Holdings X Warrants
GTENW
$7.36M
– –
0
– –
AMBI.WS
215
DELISTED
Ambipar Emergency Response Warrants
AMBI.WS
– –
0
– –
BSAAR
216
BEST SPAC I Acquisition Corp Rights
BSAAR
$21K ﹤0.01%
+149,700
New +$21K
BOWNR
217
DELISTED
Bowen Acquisition Corp Rights
BOWNR
$20.5K ﹤0.01%
85,324
-12,616
-13% -$2.84K
SBXD.WS
218
SilverBox Corp IV Warrants
SBXD.WS
– –
0
– –
EONR.WS
219
EON Resources Warrants
EONR.WS
$1.52M
– –
0
– –
SZZLR
220
Sizzle Acquisition Corp II Right
SZZLR
$18.4K ﹤0.01%
107,951
+2
+0% –
LWACW
221
LightWave Acquisition Corp Warrants
LWACW
$2.8M
– –
0
– –
LIMNW
222
Liminatus Pharma Warrants
LIMNW
$512K
– –
0
– –
ASBPW
223
Aspire Biopharma Warrant
ASBPW
$449K
– –
0
– –
NPACW
224
New Providence Acquisition Corp III Warrants
NPACW
$2.1M
– –
0
– –
WALDW icon
225
Waldencast PLC Warrant
WALDW
$4.55M
– –
0
– –
7 8
9
10 11

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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.