Q2 2025 · 13F-HR
III Capital Managementholdings as filed
Filed 2025-08-14 · accession 0001783139-25-000006
$557.8M
Reported value
52
Positions
2025-06-30
Period end
The Brief · III Capital Management · Q2 2025
AI · grounded in 13F
III Capital Management established a new position in SPY valued at $203.4M. The fund also initiated a new stake in VCSH for $171.7M. Additional new positions include [[stock:INVA 2.5 08/15/25]] at $26.2M and HYG at $20.1M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $203.4M | 36.5% | 329,200 | Common | SOLE |
| 92206C409 | VCSH | VANGUARD SCOTTSDALE FDS | $171.7M | 30.8% | 2,160,000 | Common | SOLE |
| 45781MAB7 | INVA 2.5 08/15/25 | INNOVIVA INC | $26.2M | 4.70% | 22,543,000 | Common | SOLE |
| 464288513 | HYG | ISHARES TR | $20.1M | 3.60% | 249,000 | Common | SOLE |
| 842587DZ7 | SO 4.5 06/15/27 | SOUTHERN CO | $18.1M | 3.25% | 16,482,000 | Common | SOLE |
| 46137V357 | RSP | INVESCO EXCHANGE TRADED FD T | $9.1M | 1.63% | 50,000 | Common | SOLE |
| 92939UAR7 | WEC 4.375 06/01/29 | WEC ENERGY GROUP INC | $5.8M | 1.03% | 5,000,000 | Common | SOLE |
| 958102105 | WDC | WESTERN DIGITAL CORP | $5.3M | 0.95% | 82,900 | Common | SOLE |
| 42704L104 | HRI | HERC HLDGS INC | $5.3M | 0.94% | 39,969 | Common | SOLE |
| G25508105 | CRH | CRH PLC | $5.1M | 0.91% | 55,534 | Common | SOLE |
| 83001C108 | FUN | SIX FLAGS ENTERTAINMENT CORP | $4.8M | 0.87% | 158,849 | Common | SOLE |
| 448579102 | H | HYATT HOTELS CORP | $4.8M | 0.86% | 34,500 | Common | SOLE |
| 69007J304 | OUT | OUTFRONT MEDIA INC | $4.7M | 0.85% | 289,819 | Common | SOLE |
| 81180WBL4 | STX 3.5 06/01/28 | SEAGATE HDD CAYMAN | $4.6M | 0.82% | 2,547,000 | Common | SOLE |
| 30303M102 | META | META PLATFORMS INC | $4.4M | 0.79% | 6,000 | Common | SOLE |
| 099724106 | BWA | BORGWARNER INC | $4.4M | 0.79% | 132,000 | Common | SOLE |
| 26210V102 | DRVN | DRIVEN BRANDS HLDGS INC | $4.4M | 0.79% | 250,000 | Common | SOLE |
| 013091103 | ACI | ALBERTSONS COS INC | $4.4M | 0.79% | 204,000 | Common | SOLE |
| 917047102 | URBN | URBAN OUTFITTERS INC | $4.0M | 0.72% | 55,000 | Common | SOLE |
| 256746108 | DLTR | DOLLAR TREE INC | $4.0M | 0.71% | 40,000 | Common | SOLE |
| 16119P108 | CHTR | CHARTER COMMUNICATIONS INC N | $3.5M | 0.62% | 8,500 | Common | SOLE |
| 12769G100 | CZR | CAESARS ENTERTAINMENT INC NE | $2.8M | 0.51% | 99,900 | Common | SOLE |
| 760125104 | RTO | RENTOKIL INITIAL PLC | $2.7M | 0.48% | 112,030 | Common | SOLE |
| 90353T100 | UBER | UBER TECHNOLOGIES INC | $2.4M | 0.43% | 25,657 | Common | SOLE |
| 983134107 | WYNN | WYNN RESORTS LTD | $2.3M | 0.42% | 25,000 | Common | SOLE |
| 549498103 | CCIVGBP | LUCID GROUP INC | $2.2M | 0.39% | 1,036,900 | PUT | SOLE |
| 969904101 | WSM | WILLIAMS SONOMA INC | $2.1M | 0.38% | 13,000 | Common | SOLE |
| 500754106 | KHC | KRAFT HEINZ CO | $2.0M | 0.36% | 76,830 | Common | SOLE |
| 92343V104 | VZ | VERIZON COMMUNICATIONS INC | $1.9M | 0.35% | 45,000 | Common | SOLE |
| 876030107 | TPR | TAPESTRY INC | $1.8M | 0.33% | 21,000 | Common | SOLE |
| 053774105 | CAR | AVIS BUDGET GROUP | $1.8M | 0.32% | 10,500 | Common | SOLE |
| G66721104 | NCLH | NORWEGIAN CRUISE LINE HLDG L | $1.7M | 0.31% | 85,600 | Common | SOLE |
| 751212101 | RL | RALPH LAUREN CORP | $1.6M | 0.30% | 6,000 | Common | SOLE |
| 608190104 | MHK | MOHAWK INDS INC | $1.6M | 0.28% | 15,000 | Common | SOLE |
| 81369Y308 | XLP | SELECT SECTOR SPDR TR | $1.6M | 0.28% | 19,300 | Common | SOLE |
| 65336K103 | NXST | NEXSTAR MEDIA GROUP INC | $1.6M | 0.28% | 9,000 | Common | SOLE |
| 08862EAB5 | BYND 0 03/15/27 | BEYOND MEAT INC | $1.4M | 0.26% | 17,405,000 | Common | SOLE |
| 103304101 | BYD | BOYD GAMING CORP | $1.2M | 0.21% | 15,000 | Common | SOLE |
| 69331C108 | PCG | PG&E CORP | $1.1M | 0.20% | 80,000 | PUT | SOLE |
| 00206R102 | T | AT&T INC | $868,200 | 0.16% | 30,000 | Common | SOLE |
| 30212P303 | EXPE | EXPEDIA GROUP INC | $843,400 | 0.15% | 5,000 | Common | SOLE |
| 03831W108 | APP | APPLOVIN CORP | $700,160 | 0.13% | 2,000 | Common | SOLE |
| 12685J105 | CABO | CABLE ONE INC | $543,240 | 0.10% | 4,000 | Common | SOLE |
| 381013101 | GDEN | GOLDEN ENTMT INC | $501,134 | 0.09% | 17,028 | Common | SOLE |
| 84863V101 | FLYYQ | SPIRIT AVIATION HLDGS INC | $487,388 | 0.09% | 97,673 | Common | SOLE |
| 29430C102 | VSTS | VESTIS CORPORATION | $465,510 | 0.08% | 81,241 | Common | SOLE |
| 81369Y605 | XLF | SELECT SECTOR SPDR TR | $418,960 | 0.08% | 8,000 | Common | SOLE |
| 81369Y886 | XLU | SELECT SECTOR SPDR TR | $326,640 | 0.06% | 4,000 | Common | SOLE |
| 594972408 | MSTR | MICROSTRATEGY INC | $238,495 | 0.04% | 590 | Common | SOLE |
| 549498103 | CCIVGBP | LUCID GROUP INC | $198,340 | 0.04% | 94,000 | Common | SOLE |
| 08862E109 | BYND | BEYOND MEAT INC | $104,002 | 0.02% | 29,800 | PUT | SOLE |
| 08975B117 | BBAI/WS | BIGBEAR AI HLDGS INC | $98,355 | 0.02% | 41,588 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.