683 Capital Management portfolio

What changed this quarter

169 positions with a change (10 new, 27 added to, 39 trimmed, 93 sold); also, 5 entered through an IPO, 3 exited through an acquisition or merger, 1 entered through a spin-off. 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Unity Software+1.7 ppof portfolioNew
  — → 1.7%
• Astrana Health−70%fewer sharesReduced
  1.7% → 0.9%
• GXO Logistics−57%fewer sharesReduced
  2.5% → 1.0%
• Eli Lilly−1.3 ppof portfolioSold out
  1.3% → —
• Sea+1.2 ppof portfolioNew
  — → 1.2%
• TG Therapeutics−34%fewer sharesReduced
  1.9% → 2.1%
• Harmony Biosciences Holdings+1.0 ppof portfolioNew
  — → 1.0%
• Nu Holdings+1.0 ppof portfolioNew
  — → 1.0%
• Booking Holdings−0.9 ppof portfolioSold out
  0.9% → —
• Cogent Communications Holdings−0.8 ppof portfolioSold out
  0.8% → —
• Protagonist Therapeutics−18%fewer sharesReduced
  3.7% → 3.4%
• Howard Hughes Holdings+294%more sharesIncreased
  0.2% → 1.0%

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• Capital One FinancialCOF7.0%
• CarvanaCVNA4.7%
• AnaptysbioANAB4.3%
• Joint Stock Company Kaspi.kzKSPI3.9%
• Becton, DickinsonBDX3.6%
• Molina HealthcareMOH3.6%
• Hilton Grand VacationsHGV3.5%
• Protagonist TherapeuticsPTGX3.4%
• MeiraGTx HoldingsMGTX3.0%
• Wave Life Sciences2.8%
• uniQureQURE2.5%
• Amylyx PharmaceuticalsAMLX2.2%
• Amentum HoldingsAMTM2.2%
• TG TherapeuticsTGTX2.1%
• Phathom PharmaceuticalsPHAT1.9%
• Unity SoftwareU1.7%
• Western Alliance BancorporationWAL1.6%
• IamgoldIAG1.5%
• Elevance HealthELV1.5%
• First Tracks BiotherapeuticsTRAX1.4%
• KNOT Offshore PartnersKNOP1.4%
• Sarepta TherapeuticsSRPT1.4%
• UnitedHealth GroupUNH1.3%
• SeaSE1.2%
• AlphabetGOOGL1.2%
• Zevra TherapeuticsZVRA1.2%
• Genuine PartsGPC1.1%
• Aris Water SolutionsARIS1.1%
• InflaRxIFRX1.1%
• CoupangCPNG1.1%
• GXO LogisticsGXO1.0%
• Harmony Biosciences HoldingsHRMY1.0%
• Alnylam PharmaceuticalsALNY1.0%
• Nu HoldingsNU1.0%
• Howard Hughes HoldingsHHH1.0%
• Astrana HealthASTH0.9%
• Enova InternationalENVA0.9%
• SeadrillSDRL0.9%
• LennarLEN0.9%
• Barrick MiningB0.9%
• Lexeo TherapeuticsLXEO0.8%
• Bristow GroupVTOL0.8%
• IconICLR0.8%
• Builders FirstsourceBLDR0.8%
• Shattuck LabsSTTK0.8%
• AnterixATEX0.7%
• Cartesian TherapeuticsRNAC0.7%
• NobleNE0.6%
• Gossamer BioGOSS0.6%
• AlectorALEC0.6%
• DoubleDown InteractiveDDI0.6%
• Apartment Investment and ManagementAIV0.6%
• Moody'sMCO0.5%
• S&P GlobalSPGI0.5%
• Energy RecoveryERII0.5%
• Amazon.comAMZN0.4%
• Barnes & Noble EducationBNED0.4%
• Atrium TherapeuticsRNA0.4%
• WW InternationalWW0.4%
• Space Asset AcquisitionSAAQ0.4%
• Hyperliquid StrategiesPURR0.4%
• Mereo Biopharma GroupMREO0.4%
• Magnum Ice CreamMICC0.3%
• Inspired EntertainmentINSE0.3%
• Silvercorp MetalsSVM0.3%
• Aldeyra TherapeuticsALDX0.3%
• Connect Biopharma HoldingsCNTB0.3%
• Pan American SilverPAAS0.3%
• Hyliion HoldingsHYLN0.3%
• Navigator HoldingsNVGS0.3%
• ProQR TherapeuticsPRQR0.2%
• LaFayette AcquisitionLAFA0.2%
• ACP Holdings AcquisitionACGC0.2%
• ImmunicIMUX0.2%
• InvivydIVVD0.2%
• InsmedINSM0.2%
• Octave IntelligenceOCTV0.2%
• Chenghe Acquisition IIICHEC0.2%
• Archimedes Tech Spac Partners IIIARCI0.2%
• FG Imperii AcquisitionFGII0.2%
• Legato Merger Corp. IVLEGO0.2%
• Pangaea Logistics SolutionsPANL0.2%
• Coinbase GlobalCOIN0.2%
• AmrizeAMRZ0.2%
• Hudson TechnologiesHDSN0.2%
• Satellos BioscienceMSLE0.2%
• Blue Water Acquisition Corp. IIIBLUW0.1%
• MAIA BiotechnologyMAIA0.1%
• EQV Ventures Acquisition Corp. IIEVAC0.1%
• D-MARKET Electronic Services & TradingHEPS0.1%
• Pyxis OncologyPYXS0.1%
• Willow Lane Acquisition Corp. IIWLII0.1%
• Promis NeurosciencesPMN0.1%
• Lightwave AcquisitionLWAC0.1%
• In8bioINAB0.1%
• CardlyticsCDLX0.1%
• Oyster Enterprises II AcquisitionOYSE0.1%
• CAECAE0.1%
• Graphic Packaging HoldingGPK0.1%
• Fractyl HealthGUTS0.1%