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HCM

Highbridge Capital Management Portfolio holdings

AUM $3.09B
1-Year Est. Return 31.19%
This Fund
S&P 500
This Quarter Est. Return
+16.6%
1 Year Est. Return
+31.19%
3 Year Est. Return
+54.53%
5 Year Est. Return
+78.37%
10 Year Est. Return
+191.39%
AUM
$2.3B
AUM Growth
-$158M
Cap. Flow
-$1.36B
Cap. Flow %
-59.28%
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
QQQ icon
1
PUT
Invesco QQQ Trust
QQQ
$436B
$150M 6.54%
+250,000
New +$143M
HYG icon
2
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.9B
$103M 4.51%
+1,274,752
New +$103M
ILCV icon
3
PUT
iShares Morningstar Value ETF
ILCV
$1.31B
$81.2M 3.54%
+1,000,000
New +$86.5M
VRNA
4
DELISTED
Verona Pharma
VRNA
$53.4M 2.32%
+500,000
New +$52.2M
GME icon
5
PUT
GameStop
GME
$9.8B
$40.9M 1.78%
1,500,000
– –
FYBR
6
DELISTED
Frontier Communications
FYBR
$37.7M 1.64%
1,008,301
+50,000
+5% +$1.85M
TXNM
7
TXNM Energy Inc
TXNM
$6.39B
$36.7M 1.6%
649,067
+619,067
+2,064% +$35.1M
FOX icon
8
Fox Class B
FOX
$22.1B
$35.6M 1.55%
621,202
+286,175
+85% +$15.1M
ARKK icon
9
PUT
ARK Innovation ETF
ARKK
$5.59B
$34.5M 1.5%
+400,000
New +$30.6M
FWONA icon
10
Liberty Media Series A
FWONA
$23.4B
$30.9M 1.35%
324,643
-40,357
-11% -$3.69M
HEI.A icon
11
HEICO Corp Class A
HEI.A
$36B
$27.5M 1.2%
108,294
-83,163
-43% -$20.8M
K
12
DELISTED
Kellanova
K
$23.2M 1.01%
282,735
-71,331
-20% -$5.67M
NBR icon
13
Nabors Industries
NBR
$1.17B
$20.1M 0.88%
491,795
+104,219
+27% +$3.71M
NWSA icon
14
News Corp Class A
NWSA
$15.6B
$19.8M 0.86%
645,632
-8,610
-1% -$255K
LLYVA icon
15
Liberty Live Group Series A
LLYVA
$9.21B
$19.6M 0.85%
208,179
+28,602
+16% +$2.52M
GLIBK
16
Liberty Capital Corp Series C GCI Group Common Stock
GLIBK
$932M
$19.5M 0.85%
+523,459
New +$18.5M
CCCX
17
DELISTED
Churchill Capital Corp X
CCCX
$17.8M 0.78%
+1,383,928
New +$14.6M
CYBR
18
DELISTED
CyberArk
CYBR
$16.8M 0.73%
34,740
+20,040
+136% +$8.6M
PPLI
19
People Inc
PPLI
$3.12B
$16.5M 0.72%
484,325
+197,590
+69% +$7.37M
BATRK icon
20
Atlanta Braves Holdings Series B
BATRK
$3.28B
$16.4M 0.71%
393,633
+101,765
+35% +$4.49M
TONT
21
Graf Global Corp
TONT
$153M
$15.8M 0.69%
1,500,000
– –
MBVIU
22
M3-Brigade Acquisition VI Corp Units
MBVIU
$14.9M 0.65%
+1,470,000
New +$14.8M
CENTA icon
23
Central Garden & Pet Co Class A
CENTA
$2.43B
$13.7M 0.6%
464,843
-26,291
-5% -$876K
MLNK
24
DELISTED
MeridianLink
MLNK
$13.2M 0.57%
+662,128
New +$12.2M
NIO icon
25
PUT
NIO
NIO
$11.9B
$11.5M 0.5%
1,512,600
+1,362,600
+908% +$7.34M
1
2 3 4 5

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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.