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III Capital Management Portfolio holdings

AUM $344M
1-Year Est. Return 11.22%
This Fund
S&P 500
This Quarter Est. Return
+8.09%
1 Year Est. Return
+11.22%
3 Year Est. Return
+12.16%
5 Year Est. Return
+12.02%
10 Year Est. Return
–
AUM
$416M
AUM Growth
-$142M
Cap. Flow
-$159M
Cap. Flow %
-38.16%
Top 10 Hldgs %
81.49%
Holding
64
New
14
Increased
16
Reduced
14
Closed
17

Top Buys

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$55.5M
2
IJH icon
iShares Core S&P Mid-Cap ETF
IJH
+$7.2M
3
PPLI
People Inc
PPLI
+$6.72M
4
T icon
AT&T
T
+$3.79M
5
MAT icon
Mattel
MAT
+$3.65M

Top Sells

Rank Stock Value
1
VCSH icon
Vanguard Short-Term Corporate Bond ETF
VCSH
+$172M
2
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$20.1M
3
RSP icon
Invesco S&P 500 Equal Weight ETF
RSP
+$9.09M
4
HRI icon
Herc Holdings
HRI
+$5.26M
5
WDC icon
Western Digital
WDC
+$3.37M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 9.63%
2 Communication Services 6.88%
3 Technology 2.3%
4 Consumer Staples 1.82%
5 Industrials 1.32%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ECHO
26
EchoStar
ECHO
$25.5B
$1.91M 0.46%
+25,000
New +$1.13M
NCLH icon
27
Norwegian Cruise Line
NCLH
$9.32B
$1.82M 0.44%
73,734
-11,866
-14% -$288K
RRR icon
28
Red Rock Resorts
RRR
$3.56B
$1.78M 0.43%
+29,087
New +$1.71M
CCL icon
29
Carnival Corporation Ltd
CCL
$40.6B
$1.73M 0.42%
+60,000
New +$1.81M
FUN icon
30
Cedar Fair
FUN
$1.92B
$1.7M 0.41%
75,000
-83,849
-53% -$2.23M
LCID icon
31
PUT
Lucid Motors
LCID
$2.61B
$1.65M 0.4%
69,180
-34,510
-33% -$780K
META icon
32
Meta Platforms (Facebook)
META
$1.5T
$1.47M 0.35%
2,000
-4,000
-67% -$2.98M
CAR icon
33
Avis
CAR
$4.9B
$1.45M 0.35%
9,000
-1,500
-14% -$253K
WBD icon
34
Warner Bros
WBD
$65.1B
$1.17M 0.28%
+60,000
New +$817K
DIS icon
35
Walt Disney
DIS
$177B
$1.15M 0.28%
+10,000
New +$1.18M
PINS icon
36
Pinterest
PINS
$13.1B
$1.13M 0.27%
+35,000
New +$1.27M
WH icon
37
Wyndham Hotels & Resorts
WH
$5.65B
$1.12M 0.27%
+14,000
New +$1.21M
MSTR icon
38
Strategy Inc
MSTR
$35.9B
$999K 0.24%
3,100
+2,510
+425% +$931K
XLU icon
39
State Street Utilities Select Sector SPDR ETF
XLU
$22.6B
$654K 0.16%
15,000
+7,000
+88% +$296K
GDEN
40
DELISTED
Golden Entertainment
GDEN
$459K 0.11%
19,455
+2,427
+14% +$64.6K
KRE icon
41
State Street SPDR S&P Regional Banking ETF
KRE
$4.71B
$317K 0.08%
+5,000
New +$315K
GLD icon
42
SPDR Gold Trust
GLD
$138B
$170K 0.04%
+477
New +$152K
BBAI.WS icon
43
BigBear.ai Holdings Warrant
BBAI.WS
$43.4M
$71.7K 0.02%
34,000
-7,588
-18% -$15.3K
LCID icon
44
Lucid Motors
LCID
$2.61B
$60K 0.01%
2,520
-6,880
-73% -$155K
APP icon
45
Applovin
APP
$140B
– –
-2,000
Closed -$700K
BYD icon
46
Boyd Gaming
BYD
$6.13B
– –
-15,000
Closed -$1.17M
BYND icon
47
PUT
Beyond Meat
BYND
$314M
– –
-29,800
Closed -$104K
CABO icon
48
Cable One
CABO
$246M
– –
-4,000
Closed -$543K
EXPE icon
49
Expedia Group
EXPE
$38.4B
– –
-5,000
Closed -$843K
HRI icon
50
Herc Holdings
HRI
$5.64B
– –
-39,969
Closed -$5.26M
1
2
3

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III Capital Management's Q3 2025 Portfolio in Review

As of Q3 2025, III Capital Management held 64 positions worth $416M, down 25% from $558M the previous quarter. Its ten largest holdings account for 81% of the portfolio.

III Capital Management withdrew a net $159M in Q3 2025, closing 17 positions and reducing 14 holdings. Its most notable exit was Vanguard Short-Term Corporate Bond ETF, an estimated $172M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 9.6% of assets, up from 7% a quarter earlier, followed by Communication Services and Technology.

Against the trend, III Capital Management opened a new position in iShares Core S&P Mid-Cap ETF worth $7.31M.

  • III Capital Management's largest Q3 2025 buy was iShares Core S&P Mid-Cap ETF: 112,000 shares worth $7.31M.
  • III Capital Management added most to State Street SPDR S&P 500 ETF Trust in Q3 2025, an estimated $55.5M increase.
  • III Capital Management's biggest Q3 2025 reduction was Western Digital, cutting an estimated $3.37M.
  • III Capital Management fully exited Vanguard Short-Term Corporate Bond ETF in Q3 2025, selling an estimated $172M.
  • III Capital Management's ten largest holdings make up 81% of its $416M portfolio in Q3 2025.
  • III Capital Management opened 14 new positions and closed 17 in Q3 2025.
  • III Capital Management's portfolio value fell 25% quarter-over-quarter to $416M.

Based on III Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.