Cinctive Capital Management portfolio

What changed this quarter

538 positions with a change (203 new, 113 added to, 73 trimmed, 149 sold); also, 4 entered through an IPO, 7 exited through an acquisition or merger. 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• iShares Russell 2000 ETF+2.1 ppof portfolioNew
  — → 2.1%
• Apogee Therapeutics+1.9 ppof portfolioNew
  — → 1.9%
• Vistra Operations+103%more sharesIncreased
  2.4% → 3.1%
• Packaging Corp of America+1.4 ppof portfolioNew
  — → 1.4%
• Forgent Power Solutions−1.3 ppof portfolioSold out
  2.1% → —
• Nuvalent+1.2 ppof portfolioNew
  — → 1.2%
• Valero Energy−84%fewer sharesReduced
  2.2% → 0.2%
• Churchill Downs+1,080%more sharesIncreased
  0.2% → 1.2%
• Nextera Energy+1.1 ppof portfolioNew
  — → 1.1%
• Constellation Energy−0.9 ppof portfolioSold out
  1.4% → —
• International Paper+0.8 ppof portfolioNew
  — → 0.8%
• American International Group+273%more sharesIncreased
  0.5% → 1.1%

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

• Vistra OperationsVST3.1%
• iShares Russell 2000 ETFIWM2.1%
• Apogee Therapeutics1.9%
• Packaging Corp of AmericaPKG1.4%
• Home DepotHD1.4%
• Lifezone MetalsLZM1.3%
• Churchill DownsCHDN1.2%
• O Reilly AutomotiveORLY1.2%
• Nuvalent1.2%
• CSXCSX1.2%
• ERockEROC1.1%
• American International GroupAIG1.1%
• Nextera EnergyNEE1.1%
• Ross StoresROST1.1%
• NIQ Global IntelligenceNIQ1.0%
• SempraSRE0.9%
• Capital One FinancialCOF0.9%
• Tamboran ResourcesTBN0.8%
• Exxon MobilXOM0.8%
• International PaperIP0.8%
• Best BuyBBY0.8%
• MerckMRK0.8%
• Sherwin-williamsSHW0.7%
• StarbucksSBUX0.7%
• Bunge GlobalBG0.7%
• Vertiv HoldingsVRT0.7%
• JabilJBL0.7%
• AbbVieABBV0.7%
• RB GlobalRBA0.7%
• Amer SportsAS0.7%
• Kinder MorganKMI0.7%
• Rice Acquisition Corporation 3KRSP0.7%
• Martin Marietta MaterialsMLM0.7%
• InsmedINSM0.7%
• SentineloneS0.7%
• Flagstar Bank, National AssociationFLG0.7%
• Valley National BancorpVLY0.7%
• Builders FirstsourceBLDR0.7%
• US Bancorp \de\USB0.7%
• Select Water SolutionsWTTR0.6%
• Colgate-palmoliveCL0.6%
• BiogenBIIB0.6%
• United Airlines HoldingsUAL0.6%
• Amazon.comAMZN0.6%
• ITTITT0.6%
• Eli LillyLLY0.6%
• GFL EnvironmentalGFL0.6%
• Manhattan AssociatesMANH0.6%
• TargetTGT0.6%
• On HoldingONON0.5%
• YETI HoldingsYETI0.5%
• Vertex PharmaceuticalsVRTX0.5%
• Five BelowFIVE0.5%
• Sensient TechnologiesSXT0.5%
• TimkenTKR0.5%
• Nexstar Media GroupNXST0.5%
• SOLV EnergyMWH0.5%
• EverpureP0.5%
• HF SinclairDINO0.5%
• LiveRamp HoldingsRAMP0.5%
• GlaukosGKOS0.5%
• CytokineticsCYTK0.5%
• AerCap HoldingsAER0.5%
• ULTA BeautyULTA0.5%
• Dollar GeneralDG0.5%
• Union PacificUNP0.5%
• RTXRTX0.4%
• Atlanta Braves HoldingsBATRK0.4%
• Johnson & JohnsonJNJ0.4%
• SamsaraIOT0.4%
• WingstopWING0.4%
• J M SmuckerSJM0.4%
• TETRA TechnologiesTTI0.4%
• State Street Consumer Disc Select Sect ETFXLY0.4%
• American Eagle OutfittersAEO0.4%
• Unity SoftwareU0.4%
• VersigentVGNT0.4%
• State Street Real Estate Select Sector ETFXLRE0.4%
• NVIDIANVDA0.4%
• JBSJBS0.4%
• ServiceNowNOW0.4%
• Bank of AmericaBAC0.4%
• iShares 20+ Year Treasury BD ETFTLT0.4%
• OneSpaWorld HoldingsOSW0.4%
• Royal Caribbean CruisesRCL0.4%
• Monster BeverageMNST0.4%
• Abbott LaboratoriesABT0.4%
• HubbellHUBB0.3%
• VisaV0.3%
• Charter CommunicationsCHTR0.3%
• CamecoCCJ0.3%
• Space Exploration TechnologiesSPCX0.3%
• TransDigm GroupTDG0.3%
• Church & DwightCHD0.3%
• WatersWAT0.3%
• ChemoursCC0.3%
• Intuitive SurgicalISRG0.3%
• Thermo Fisher ScientificTMO0.3%
• Roivant SciencesROIV0.3%
• Delta Air LinesDAL0.3%