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ICM
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
(-25%)
Cap. Flow
-$159M
Cap. Flow
% of AUM
-38.16%
Top 10 Holdings %
Top 10 Hldgs %
81.49%
Holding
64
New
14
Increased
16
Reduced
14
Closed
17
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$55.5M |
| 2 |
iShares Core S&P Mid-Cap ETF
IJH
|
+$7.2M |
| 3 |
PPLI
People Inc
PPLI
|
+$6.72M |
| 4 |
AT&T
T
|
+$3.79M |
| 5 |
Mattel
MAT
|
+$3.65M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard Short-Term Corporate Bond ETF
VCSH
|
+$172M |
| 2 |
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
|
+$20.1M |
| 3 |
Invesco S&P 500 Equal Weight ETF
RSP
|
+$9.09M |
| 4 |
Herc Holdings
HRI
|
+$5.26M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
|
51
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.6B
| – | – |
-249,000
| Closed | -$20.1M |
|
52
PUT
PG&E
PCG
$38.5B
| – | – |
-80,000
| Closed | -$1.12M |
|
|
53
Invesco S&P 500 Equal Weight ETF
RSP
$99.5B
| – | – |
-50,000
| Closed | -$9.09M |
|
54
Tapestry
TPR
$32.8B
| – | – |
-21,000
| Closed | -$1.84M |
|
|
55
Vanguard Short-Term Corporate Bond ETF
VCSH
$44.7B
| – | – |
-2,160,000
| Closed | -$172M |
|
56
Vestis
VSTS
$1.88B
| – | – |
-81,241
| Closed | -$466K |
|
57
Verizon
VZ
$196B
| – | – |
-45,000
| Closed | -$1.95M |
|
58
Williams-Sonoma
WSM
$29.6B
| – | – |
-13,000
| Closed | -$2.12M |
|
59
Wynn Resorts
WYNN
$10.6B
| – | – |
-25,000
| Closed | -$2.34M |
|
60
State Street Financial Select Sector SPDR ETF
XLF
$58.2B
| – | – |
-8,000
| Closed | -$419K |
|
|
FLYY
61
DELISTED
Spirit Aviation Holdings, Inc.
FLYY
| – | – |
-97,673
| Closed | -$487K |
|
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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.