13F HOLDINGS REPORT
III Capital Management
Quarter ended Q3 2025 · Filed November 14, 2025 · Accession 0001783139-25-000007
Total Value
$416.1M
Positions
47
Other Managers
0
Confidential Omitted
No
Holdings (47)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | SPDR S&P 500 ETF TR | SPY | 415,800 | $277.0M | 66.58% |
| 2 | SOUTHERN CO | SOMN | 16,482,000 | $18.4M | 4.41% |
| 3 | ISHARES TR | 464287507 | 112,000 | $7.3M | 1.76% |
| 4 | WEC ENERGY GROUP INC | WEC | 5,000,000 | $6.1M | 1.47% |
| 5 | IAC INC | IAC | 180,000 | $6.1M | 1.47% |
| 6 | HYATT HOTELS CORP | H | 35,875 | $5.1M | 1.22% |
| 7 | WESTERN DIGITAL CORP | WDC | 41,713 | $5.0M | 1.20% |
| 8 | DRIVEN BRANDS HLDGS INC | DRVN | 295,625 | $4.8M | 1.14% |
| 9 | BORGWARNER INC | BWA | 105,810 | $4.7M | 1.12% |
| 10 | AT&T INC | T-PC | 163,550 | $4.6M | 1.11% |
| 11 | OUTFRONT MEDIA INC | OUT | 235,394 | $4.3M | 1.04% |
| 12 | CRH PLC | CRH | 34,448 | $4.1M | 0.99% |
| 13 | RENTOKIL INITIAL PLC | RKLIF | 160,132 | $4.0M | 0.97% |
| 14 | URBAN OUTFITTERS INC | URBN | 56,550 | $4.0M | 0.97% |
| 15 | MOHAWK INDS INC | 608190104 | 29,850 | $3.8M | 0.92% |
| 16 | UBER TECHNOLOGIES INC | UBER | 36,313 | $3.6M | 0.86% |
| 17 | RALPH LAUREN CORP | RL | 11,155 | $3.5M | 0.84% |
| 18 | ALPHABET INC | GOOG | 14,140 | $3.4M | 0.83% |
| 19 | MATTEL INC | MAT | 200,000 | $3.4M | 0.81% |
| 20 | DOLLAR TREE INC | DLTR | 35,000 | $3.3M | 0.79% |
| 21 | CHARTER COMMUNICATIONS INC N | 16119P108 | 12,000 | $3.3M | 0.79% |
| 22 | SELECT SECTOR SPDR TR | 81369Y308 | 36,051 | $2.8M | 0.68% |
| 23 | CINEMARK HLDGS INC | CNK | 85,000 | $2.4M | 0.57% |
| 24 | KRAFT HEINZ CO | KHC | 82,779 | $2.2M | 0.52% |
| 25 | CAESARS ENTERTAINMENT INC NE | 12769G100 | 79,136 | $2.1M | 0.51% |
| 26 | ALBERTSONS COS INC | 013091103 | 120,370 | $2.1M | 0.51% |
| 27 | NEXSTAR MEDIA GROUP INC | NXST | 9,710 | $1.9M | 0.46% |
| 28 | ECHOSTAR CORP | SATS | 25,000 | $1.9M | 0.46% |
| 29 | BOX INC | BXCAP | 1,820,000 | $1.8M | 0.44% |
| 30 | NORWEGIAN CRUISE LINE HLDG L | NCLH | 73,734 | $1.8M | 0.44% |
| 31 | RED ROCK RESORTS INC | RRR | 29,087 | $1.8M | 0.43% |
| 32 | CARNIVAL CORP | CUKPF | 60,000 | $1.7M | 0.42% |
| 33 | SIX FLAGS ENTERTAINMENT CORP | FUN | 75,000 | $1.7M | 0.41% |
| 34 | LUCID GROUP INC | LCID | 69,180 | $1.6M | 0.40% |
| 35 | META PLATFORMS INC | META | 2,000 | $1.5M | 0.35% |
| 36 | AVIS BUDGET GROUP | CAR | 9,000 | $1.4M | 0.35% |
| 37 | WARNER BROS DISCOVERY INC | WBD | 60,000 | $1.2M | 0.28% |
| 38 | DISNEY WALT CO | 254687106 | 10,000 | $1.1M | 0.28% |
| 39 | PINTEREST INC | PINS | 35,000 | $1.1M | 0.27% |
| 40 | WYNDHAM HOTELS & RESORTS INC | WH | 14,000 | $1.1M | 0.27% |
| 41 | STRATEGY INC | STRK | 3,100 | $998,851 | 0.24% |
| 42 | SELECT SECTOR SPDR TR | 81369Y886 | 7,500 | $654,075 | 0.16% |
| 43 | GOLDEN ENTMT INC | NVGLF | 19,455 | $458,748 | 0.11% |
| 44 | SPDR SERIES TRUST | 78464A698 | 5,000 | $316,500 | 0.08% |
| 45 | SPDR GOLD TR | GLD | 477 | $169,559 | 0.04% |
| 46 | BIGBEAR AI HLDGS INC | BBAI-WT | 34,000 | $71,740 | 0.02% |
| 47 | LUCID GROUP INC | LCID | 2,520 | $59,950 | 0.01% |