HIGHBRIDGE CAPITAL MANAGEMENT LLC

CIK

919185

Location

NEW YORK, NY

Portfolio Value

Small $233,900,968

Diversification

Diversified

Filing Date

Global Rank

#3,852 / 7,976 ▲ 902

Top Industry

Entertainment 21.7%

3Y Alpha vs SPY

-9.5%

Period ended 9 months ago

Filed Nov 14, 2025 · 7mo

23 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+37.9%

SPY

+76.3%

Annualised alpha

-9.5%

Max drawdown

−21.3%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

44 positions · as of Sep 30, 2025 · Δ vs Jun 30, 2025

Top Position

15.7%

−8.7 pts

Top 5

53.0%

−11.3 pts

Top 10

75.4%

−9.1 pts

HHI

761

Diversified−374

Portfolio Trend

23 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2025

Sector	% Portfolio	Value	Positions
Communication Services	29.8%	$69,638,463	6
Financial Services	19.5%	$45,702,380	9
Utilities	15.7%	$36,704,738	1
Technology	9.7%	$22,585,056	10
Energy	9.1%	$21,354,647	3
Consumer Cyclical	7.1%	$16,668,504	2
Real Estate	4.9%	$11,397,259	3
Healthcare	2.0%	$4,740,347	6
Consumer Defensive	1.7%	$4,035,922	1
Industrials	0.3%	$602,515	2
Unclassified	0.2%	$471,137	1

Last Quarter's Activity

Export CSV

Sep 30, 2025 vs Jun 30, 2025

Added To

Positions the filer increased

6 positions

Ticker	Company	Δ Shares	Shares	Value
TXNM	Txnm Energy Inc	+619,067	649,067	$36,704,738
IAC	IAC Inc.	+197,590	484,325	$16,500,952
FGMC	FG Merger II Corp.	+157,902	254,607	$2,543,778
NBR	Nabors Industries Ltd	+104,219	491,795	$20,099,661
CNNE	Cannae Holdings, Inc.	+48,400	442,713	$8,106,075
MRNO	Murano Global Investments Plc	+100	200	$515
No positions match the current search.

Trimmed

Positions the filer reduced

5 positions

Ticker	Company	Δ Shares	Shares	Value
FWONA	Liberty Media Corp	−40,357	324,643	$30,912,506
KW	Kennedy-Wilson Holdings, Inc.	−23,392	186,608	$1,552,578
STHO	Star Holdings	−20,732	1,196,132	$9,844,166
OKUR	OnKure Therapeutics, Inc.	−13,389	650,218	$1,788,099
NWSA	News Corp	−8,610	645,632	$19,827,358
No positions match the current search.

New Positions

Positions the filer opened this quarter

20 positions

Ticker	Company	Shares	Value
HCMA	Hcm III Acquisition Corp.	1,000,000	$10,105,000
EMPD	Empery Digital Inc.	1,138,621	$8,562,429
QUMS	Quantumsphere Acquisition Corp	600,000	$5,976,000
CVLT	Commvault Systems Inc	28,700	$5,417,986
JBS	Jbs N.V.	270,323	$4,035,922
WOLF	Wolfspeed, Inc.	124,184	$3,551,662
COHU	Cohu Inc	172,602	$3,508,998
LITE	Lumentum Holdings Inc.	18,900	$3,075,219
AEXA	American Exceptionalism Acquisition Corp. A	212,500	$2,322,625
PI	Impinj Inc	8,001	$1,446,180
OSCR	Oscar Health, Inc.	69,100	$1,308,063
EA	Electronic Arts Inc.	5,000	$1,008,500
GLIBA	GCI Liberty, Inc.	26,541	$996,747
IRWD	Ironwood Pharmaceuticals Inc	537,252	$703,800
NSC	Norfolk Southern Corp	2,000	$600,820
ETHA	iShares Ethereum Trust ETF	14,952	$471,137
ULYX	Urgent.ly Inc.	68,748	$222,056
SBET	Sharplink, Inc.	8,479	$144,227
SHMD	SCHMID Group N.V.	600	$1,695
CLDI	Calidi Biotherapeutics, Inc.	1,042	$1,583
No positions match the current search.

Sold Out

Positions the filer fully exited

13 positions

Ticker	Company	Shares	Value
HTZ	Hertz Global Holdings, Inc	320,000	$2,185,600
CAEP	Cantor Equity Partners III, Inc.	200,000	$2,110,000
CGCT	Cartesian Growth Corp III	196,907	$1,973,008
CHPG	ChampionsGate Acquisition Corp	150,000	$1,500,000
MIR	Mirion Technologies, Inc.	57,352	$1,234,788
RDAG	Republic Digital Acquisition Co	100,000	$1,026,000
NPAC	New Providence Acquisition Corp. III/Cayman	62,447	$636,959
GOSS	Gossamer Bio, Inc.	497,694	$612,163
XRPN	Armada Acquisition Corp. II	50,400	$506,520
ACHV	Achieve Life Sciences, Inc.	132,937	$300,437
WDC	Western Digital Corp	1,000	$63,990
EGHA	EGH Acquisition Corp.	1,000	$10,000
VFS	VinFast Auto Ltd.	180	$642
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

44 positions · $233,900,968 total · as of Sep 30, 2025

All sectors Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
TXNM	Txnm Energy Inc Utilities	Added	649,067	+619,067	$36,704,738	+2072.4%	15.69%
FWONA	Liberty Media Corp Communication Services	Reduced	324,643	-40,357	$30,912,506	−10.8%	13.22%
NBR	Nabors Industries Ltd Energy	Added	491,795	+104,219	$20,099,661	+85.1%	8.59%
NWSA	News Corp Communication Services	Reduced	645,632	-8,610	$19,827,358	+2.0%	8.48%
IAC	IAC Inc. Communication Services	Added	484,325	+197,590	$16,500,952	+54.1%	7.05%
GRAF	Graf Global Corp. Financial Services	Held	1,500,000	0	$15,810,000	+0.8%	6.76%
HCMA	Hcm III Acquisition Corp. Financial Services	NEW	1,000,000	NEW	$10,105,000	NEW	4.32%
STHO	Star Holdings Real Estate	Reduced	1,196,132	-20,732	$9,844,166	+3.6%	4.21%
EMPD	Empery Digital Inc. Consumer Cyclical	NEW	1,138,621	NEW	$8,562,429	NEW	3.66%
CNNE	Cannae Holdings, Inc. Consumer Cyclical	Added	442,713	+48,400	$8,106,075	−1.4%	3.47%
QUMS	Quantumsphere Acquisition Corp Financial Services	NEW	600,000	NEW	$5,976,000	NEW	2.55%
CVLT	Commvault Systems Inc Technology	NEW	28,700	NEW	$5,417,986	NEW	2.32%
TACO	Berto Acquisition Corp. Financial Services	Held	500,000	0	$5,200,000	−0.2%	2.22%
BTDR	Bitdeer Technologies Group Technology	Held	283,500	0	$4,845,015	+48.9%	2.07%
JBS	Jbs N.V. Consumer Defensive	NEW	270,323	NEW	$4,035,922	NEW	1.73%
WOLF	Wolfspeed, Inc. Technology	NEW	124,184	NEW	$3,551,662	NEW	1.52%
COHU	Cohu Inc Technology	NEW	172,602	NEW	$3,508,998	NEW	1.50%
LITE	Lumentum Holdings Inc. Technology	NEW	18,900	NEW	$3,075,219	NEW	1.31%
DRDB	Roman DBDR Acquisition Corp. II Financial Services	Held	250,000	0	$2,579,750	+0.1%	1.10%
FGMC	FG Merger II Corp. Financial Services	Added	254,607	+157,902	$2,543,778	+166.2%	1.09%
AEXA	American Exceptionalism Acquisition Corp. A Financial Services	NEW	212,500	NEW	$2,322,625	NEW	0.99%
OKUR	OnKure Therapeutics, Inc. Healthcare	Reduced	650,218	-676,996	$1,788,099	−43.6%	0.76%
KW	Kennedy-Wilson Holdings, Inc. Real Estate	Reduced	186,608	-23,392	$1,552,578	+8.7%	0.66%
PI	Impinj Inc Technology	NEW	8,001	NEW	$1,446,180	NEW	0.62%
OSCR	Oscar Health, Inc. Healthcare	NEW	69,100	NEW	$1,308,063	NEW	0.56%
SM	SM Energy Co Energy	Held	50,000	0	$1,248,500	+1.1%	0.53%
GTEN	Gores Holdings X, Inc. / CI Financial Services	Held	100,000	0	$1,021,000	−0.4%	0.44%
EA	Electronic Arts Inc. Communication Services	NEW	5,000	NEW	$1,008,500	NEW	0.43%
GLIBA	GCI Liberty, Inc. Communication Services	NEW	26,541	NEW	$996,747	NEW	0.43%
IRWD	Ironwood Pharmaceuticals Inc Healthcare	NEW	537,252	NEW	$703,800	NEW	0.30%
ESPR	Esperion Therapeutics, Inc. Healthcare	Held	254,265	0	$673,802	+170.4%	0.29%
NSC	Norfolk Southern Corp Industrials	NEW	2,000	NEW	$600,820	NEW	0.26%
ETHA	iShares Ethereum Trust ETF	NEW	14,952	NEW	$471,137	NEW	0.20%
TDS	Telephone & Data Systems Inc /De/ Communication Services	Held	10,000	0	$392,400	+10.3%	0.17%
BDMD	Baird Medical Investment Holdings Ltd Healthcare	Held	125,000	0	$265,000	−42.2%	0.11%
DAIC	CID Holdco, Inc. Technology	Held	100,000	0	$254,000	−50.5%	0.11%
ULYX	Urgent.ly Inc. Technology	NEW	68,748	NEW	$222,056	NEW	0.09%
SBET	Sharplink, Inc. Financial Services	NEW	8,479	NEW	$144,227	NEW	0.06%
AMOD	Alpha Modus Holdings, Inc. Technology	Held	112,500	0	$133,875	+4.4%	0.06%
HPAI	Helport AI Ltd Technology	Held	37,375	0	$130,065	−27.5%	0.06%
SD	Sandridge Energy Inc Energy	Held	575	0	$6,486	+4.3%	0.00%
SHMD	SCHMID Group N.V. Industrials	NEW	600	NEW	$1,695	NEW	0.00%
CLDI	Calidi Biotherapeutics, Inc. Healthcare	NEW	1,042	NEW	$1,583	NEW	0.00%
MRNO	Murano Global Investments Plc Real Estate	Added	200	+100	$515	−51.2%	0.00%