III Capital Management

Q4 2025 13F-HR Holdings

Location
Boca Raton, FL
Holdings as of
12/31/2025
Date filed
2/17/2026
Form type
13F-HR
Num holdings
55
Total value ($000)
$679,418
Net value change ($000)
+263,359 (63.3%)
New positions
14
Sold out positions
17
Turnover %
23.8%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/14/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
LQD 25,234 NEW
SPY 22,287 8.0%
VISN 5,076 NEW
BKNG 4,284 NEW
BYD 4,177 NEW
TMUS 4,061 NEW
KWEB 3,916 NEW
PBI 2,960 NEW
KMB 2,623 NEW
XLE 2,236 NEW
Top Reduces (Value $000, Stocks/ETFs)
IJH -7,309 -100.0%
IAC -6,133 -100.0%
T -4,619 -100.0%
CRH -4,130 -100.0%
GOOGL -3,444 -100.0%
OUT -3,365 -78.0%
DLTR -3,303 -100.0%
XLP -2,355 -83.4%
CZR -2,139 -100.0%
NXST -1,920 -100.0%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 227,901 (33.5% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type