# III Capital Management

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1783139. Source: https://holderbook.com/funds/1783139-iii-capital-management/

- Reported value: $394.0M
- Positions: 48
- Weight of the ten largest: 81.1%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $249.4M | 333,951 | 63.3% | 5 |
| ISHARES TR | [HYG](https://holderbook.com/stocks/HYG/) | $24.6M | 308,000 | 6.3% | 1 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $9.6M | 125,000 | 2.4% | 1 |
| INVESCO EXCHANGE TRADED FD T | [RSP](https://holderbook.com/stocks/RSP/) | $8.5M | 40,000 | 2.2% | 1 |
| WYNN RESORTS LTD | [WYNN](https://holderbook.com/stocks/WYNN/) | $6.2M | 33,405 | 1.6% | 2 |
| CRH PLC | [CRH](https://holderbook.com/stocks/CRH/) | $4.5M | 42,444 | 1.2% | 2 |
| GENUINE PARTS CO | [GPC](https://holderbook.com/stocks/GPC/) | $4.5M | 38,000 | 1.1% | 1 |
| VERSIGENT PLC | [VGNT](https://holderbook.com/stocks/VGNT/) | $4.3M | 102,199 | 1.1% | 1 |
| HYATT HOTELS CORP | [H](https://holderbook.com/stocks/H/) | $4.0M | 20,433 | 1.0% | 7 |
| T-MOBILE US INC | [TMUS](https://holderbook.com/stocks/TMUS/) | $3.8M | 22,584 | 1.0% | 3 |
| HERC HLDGS INC | [HRI](https://holderbook.com/stocks/HRI/) | $3.5M | 24,742 | 0.9% | 2 |
| VISTANCE NETWORKS INC | [VISN](https://holderbook.com/stocks/VISN/) | $3.5M | 271,443 | 0.9% | 3 |
| BURLINGTON STORES INC | [BURL](https://holderbook.com/stocks/BURL/) | $3.5M | 10,930 | 0.9% | 2 |
| ECHOSTAR CORP | [ECHO](https://holderbook.com/stocks/ECHO/) | $3.2M | 31,637 | 0.8% | 4 |
| WESTERN DIGITAL CORP | [WDC](https://holderbook.com/stocks/WDC/) | $3.2M | 5,000 | 0.8% | 12 |
| PROGRESS SOFTWARE CORP | - | $3.1M | 3,200,000 | 0.8% | 2 |
| BOOT BARN HLDGS INC | [BOOT](https://holderbook.com/stocks/BOOT/) | $3.0M | 18,000 | 0.8% | 1 |
| PEOPLE INC | [PPLI](https://holderbook.com/stocks/PPLI/) | $2.9M | 63,000 | 0.7% | 2 |
| UBER TECHNOLOGIES INC | [UBER](https://holderbook.com/stocks/UBER/) | $2.9M | 40,099 | 0.7% | 6 |
| RENTOKIL INITIAL PLC | [RTO](https://holderbook.com/stocks/RTO/) | $2.9M | 100,684 | 0.7% | 10 |
| NEXSTAR MEDIA GROUP INC | [NXST](https://holderbook.com/stocks/NXST/) | $2.8M | 15,500 | 0.7% | 1 |
| URBAN OUTFITTERS INC | [URBN](https://holderbook.com/stocks/URBN/) | $2.7M | 38,294 | 0.7% | 6 |
| MOHAWK INDS INC | [MHK](https://holderbook.com/stocks/MHK/) | $2.5M | 20,897 | 0.6% | 5 |
| CARNIVAL CORP LTD | [CCL](https://holderbook.com/stocks/CCL/) | $2.5M | 86,820 | 0.6% | 1 |
| NEXTERA ENERGY INC | [NEEPRV](https://holderbook.com/stocks/NEEPRV/) | $2.4M | 50,000 | 0.6% | 2 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $2.3M | 4,000 | 0.6% | 10 |
| BOYD GAMING CORP | [BYD](https://holderbook.com/stocks/BYD/) | $2.2M | 25,000 | 0.6% | 3 |
| WARNER MUSIC GROUP CORP | [WMG](https://holderbook.com/stocks/WMG/) | $2.1M | 79,000 | 0.5% | 1 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $2.1M | 5,566 | 0.5% | 4 |
| BOOKING HOLDINGS INC | [BKNG](https://holderbook.com/stocks/BKNG/) | $2.0M | 11,450 | 0.5% | 3 |
| MATTEL INC | [MAT](https://holderbook.com/stocks/MAT/) | $1.8M | 132,109 | 0.5% | 4 |
| FOX CORP | [FOXA](https://holderbook.com/stocks/FOXA/) | $1.7M | 32,587 | 0.4% | 1 |
| DRIVEN BRANDS HLDGS INC | [DRVN](https://holderbook.com/stocks/DRVN/) | $1.5M | 109,020 | 0.4% | 6 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $1.5M | 1,300 | 0.4% | 1 |
| AKAMAI TECHNOLOGIES INC | - | $1.5M | 1,000,000 | 0.4% | 1 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $1.3M | 2,200 | 0.3% | 1 |
| SOUTHERN CO | - | $1.1M | 1,089,000 | 0.3% | 1 |
| VERSANT MEDIA GROUP INC | [VSNT](https://holderbook.com/stocks/VSNT/) | $1.1M | 30,000 | 0.3% | 2 |
| SANDISK CORP | [SNDK](https://holderbook.com/stocks/SNDK/) | $1.1M | 475 | 0.3% | 1 |
| MIDDLEBY CORP | [MIDD](https://holderbook.com/stocks/MIDD/) | $1.0M | 6,000 | 0.3% | 1 |
| WYNDHAM HOTELS & RESORTS INC | [WH](https://holderbook.com/stocks/WH/) | $1.0M | 12,145 | 0.3% | 4 |
| DROPBOX INC | - | $1.0M | 1,000,000 | 0.3% | 1 |
| CHARTER COMMUNICATIONS INC | [CHTR](https://holderbook.com/stocks/CHTR/) | $959.6K | 6,748 | 0.2% | 10 |
| ISHARES TR | [IGV](https://holderbook.com/stocks/IGV/) | $906.0K | 10,000 | 0.2% | 1 |
| PENN ENTERTAINMENT INC | [PENN](https://holderbook.com/stocks/PENN/) | $541.0K | 25,330 | 0.1% | 3 |
| EXPEDIA GROUP INC | [EXPE](https://holderbook.com/stocks/EXPE/) | $511.8K | 2,000 | 0.1% | 1 |
| RALPH LAUREN CORP | [RL](https://holderbook.com/stocks/RL/) | $452.4K | 1,127 | 0.1% | 5 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $404.9K | 2,900 | 0.1% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +12.7% | +14.8% | -2.1% | 99% |
| Q1 2026 | -3.9% | -4.6% | +0.7% | 71% |
| Q4 2025 | +3.0% | +2.4% | +0.7% | 93% |
| Q3 2025 | +5.4% | +7.8% | -2.4% | 90% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $394.0M | 48 |
| Q1 2026 | $344.4M | 56 |
| Q4 2025 | $679.4M | 49 |
| Q3 2025 | $416.1M | 46 |
| Q2 2025 | $557.8M | 51 |
| Q1 2025 | $552.4M | 42 |
| Q4 2024 | $620.9M | 36 |
| Q3 2024 | $1.4B | 85 |
| Q2 2024 | $2.1B | 109 |
| Q1 2024 | $2.1B | 122 |
| Q4 2023 | $2.4B | 146 |
| Q3 2023 | $2.0B | 158 |