III Capital Management

CIK 1783139 · View on SEC EDGAR ↗

Portfolio value
$394.0M
#4,401 of 9,443 by 13F value · top 46.6%
Positions
49
As of
June 30, 2026

Portfolio value QoQ: +14.4% 13F does not disclose cash

Top 10 holdings weight
80.41%
Top 25 holdings weight
91.76%
Positions above 1%
8
Effective number of positions
2.5

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q2 2026: 39.0% Est. buys $171,221,140 · sells $143,957,610

Median holding: 2.0 quarters Tracked Q4 2024–Q2 2026 · 35.3% still held

New positions
21
Increased
17
Decreased
9
Closed
28
On this page

Performance vs S&P 500

Tracked Q3 2025–Q2 2026
+13.5%
S&P 500 total return (same window)
+13.0%
Excess return
+0.6%

Annualized: +18.5% · S&P 500: +17.7%

Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.

Priceable coverage: 89.8% · Options excluded: 22.7%

Sector breakdown

Consumer Discretionary
5.9%
Communication Services
4.0%
Industrials
3.8%
Retail
2.3%
Technology
1.9%
Telecommunication
1.0%
Consumer products
0.6%
Diversified Consumer Services
0.4%
Other/Unmapped
80.1%

Full portfolio 49 positions

Type Streak 8Q trend
SPY SPY $249,384,588 63.30% 333,951 $103,789,721 Up ×1
HYG $24,630,760 6.25% 308,000
IJH $9,638,750 2.45% 125,000
RSP $8,510,800 2.16% 40,000
CRH CRH PLC Ordinary Shares $4,541,508 1.15% 42,444 $705,890 Up ×1
GPC Genuine Parts Company Common Stock $4,483,240 1.14% 38,000 Up ×1
Unknown issuer (CUSIP: G9600F104) $4,293,379 1.09% 102,199 Up ×1
H Hyatt Hotels Corporation Class A Common Stock $3,960,732 1.01% 20,433 $166,690 Down ×3
TMUS T-Mobile US, Inc. - Common Stock $3,788,014 0.96% 22,584 $619,082 Up ×1
HRI Herc Holdings Inc. Common Stock $3,546,518 0.90% 24,742 $1,519,680 Up ×1
VISN Vistance Networks, Inc. - Common Stock $3,469,041 0.88% 271,443 $-2,697,574 Down ×1
BURL Burlington Stores, Inc. Common Stock $3,462,624 0.88% 10,930 $1,022,274 Up ×1
WYNN Wynn Resorts, Limited - Common Stock $3,243,291 0.82% 33,405 $394,611 Up ×1
SATS EchoStar Corporation - Common stock $3,211,155 0.82% 31,637 $1,960,614 Up ×1
WDC Western Digital Corporation - Common Stock $3,193,600 0.81% 5,000 $1,035,361 Down ×5
Unknown issuer (CUSIP: 743312AD2) $3,076,142 0.78% 3,200,000 $221,260
BOOT Boot Barn Holdings, Inc. Common Stock $2,956,860 0.75% 18,000 Up ×1
WYNN Wynn Resorts, Limited - Common Stock $2,912,700 0.74% 30,000 Call option Up ×1
IAC IAC Inc. - Common Stock $2,908,080 0.74% 63,000 $947,571 Up ×1
UBER Uber Technologies, Inc. Common Stock $2,893,543 0.73% 40,099 $652,636 Up ×1
RTO Rentokil Initial plc American Depositary Shares (each representing five (5) Ordinary Shares) $2,880,569 0.73% 100,684 $-177,996 Up ×1
NXST Nexstar Media Group, Inc. - Common Stock $2,768,145 0.70% 15,500
URBN Urban Outfitters, Inc. - Common Stock $2,713,512 0.69% 38,294 $-760,411 Down ×2
MHK Mohawk Industries, Inc. Common Stock $2,535,433 0.64% 20,897 $-19,505 Down ×2
Unknown issuer (CUSIP: G2004J103) $2,480,447 0.63% 86,820 Up ×1
Unknown issuer (CUSIP: 65339F655) $2,394,386 0.61% 50,000 $-120,343
META Meta Platforms, Inc. - Class A Common Stock $2,253,160 0.57% 4,000 $-31,355 Up ×3
BYD Boyd Gaming Corporation Common Stock $2,208,250 0.56% 25,000 $610,507 Up ×1
WMG Warner Music Group Corp. - Class A Common Stock $2,138,530 0.54% 79,000 Up ×1
GLD $2,050,403 0.52% 5,566 $1,591,714 Up ×1
BKNG Booking Holdings Inc. - Common Stock $2,040,848 0.52% 11,450 $-999,003 Up ×1
MAT Mattel, Inc. - Common Stock $1,833,672 0.47% 132,109 $-266,189 Down ×2
FOXA Fox Corporation - Class A Common Stock $1,699,737 0.43% 32,587 Up ×1
DRVN Driven Brands Holdings Inc. - Common Stock $1,519,738 0.39% 109,020 $576,952 Up ×1
MU Micron Technology, Inc. - Common Stock $1,500,577 0.38% 1,300 Up ×1
Unknown issuer (CUSIP: 00971TAQ4) $1,461,269 0.37% 1,000,000 Up ×1
AMD Advanced Micro Devices, Inc. - Common Stock $1,278,002 0.32% 2,200 Up ×1
Unknown issuer (CUSIP: 842587ED5) $1,102,693 0.28% 1,089,000 Up ×1
VSNT Versant Media Group, Inc. - Class A Common Stock $1,080,300 0.27% 30,000 $-24,969 Up ×1
SNDK Sandisk Corporation - Common Stock $1,080,021 0.27% 475 Up ×1
MIDD The Middleby Corporation - Common Stock $1,032,060 0.26% 6,000 Up ×1
WH Wyndham Hotels & Resorts, Inc. Common Stock $1,022,730 0.26% 12,145 $58,205 Up ×1
Unknown issuer (CUSIP: 26210CAD6) $1,009,098 0.26% 1,000,000 Up ×1
CHTR Charter Communications, Inc. - Class A Common Stock $959,633 0.24% 6,748 $-1,640,641 Down ×1
IGV $906,000 0.23% 10,000 Up ×1
PENN PENN Entertainment, Inc. - Common Stock $541,048 0.14% 25,330 $-977,673 Down ×1
EXPE Expedia Group, Inc. - Common Stock $511,760 0.13% 2,000
RL Ralph Lauren Corporation Common Stock $452,389 0.11% 1,127 $-1,751,210 Down ×3
INTC Intel Corporation - Common Stock $404,927 0.10% 2,900 Up ×1

Conviction holdings

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

Security Value % of portfolio Streak
META $2,253,160 0.57% up ×3

Biggest new bets

New positions opened this quarter, largest first.

Security Value Shares % of portfolio
HYG $24,630,760 308,000 6.25%
IJH $9,638,750 125,000 2.45%
RSP $8,510,800 40,000 2.16%
GPC $4,483,240 38,000 1.14%
Unknown issuer (CUSIP: G9600F104) $4,293,379 102,199 1.09%
BOOT $2,956,860 18,000 0.75%
WYNN $2,912,700 30,000 0.74%
NXST $2,768,145 15,500 0.70%
Unknown issuer (CUSIP: G2004J103) $2,480,447 86,820 0.63%
WMG $2,138,530 79,000 0.54%
FOXA $1,699,737 32,587 0.43%
MU $1,500,577 1,300 0.38%
Unknown issuer (CUSIP: 00971TAQ4) $1,461,269 1,000,000 0.37%
AMD $1,278,002 2,200 0.32%
Unknown issuer (CUSIP: 842587ED5) $1,102,693 1,089,000 0.28%

Top movers (QoQ)

Security Action Shares Δ Value Δ
SPY Bought more +110K +$103.8M
VISN Trimmed -67K -$2.7M
SATS Bought more +21K +$2.0M
RL Trimmed -5K -$1.8M
CHTR Trimmed -5K -$1.6M
GLD Bought more +4K +$1.6M
HRI Bought more +4K +$1.5M
WDC Trimmed -3K +$1.0M
BURL Bought more +3K +$1.0M
BKNG Bought more +11K -$999K

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

SecurityQuarter Shares before Value before Price since exit
VCSH Sept. 30, 2025 2,160,000 $171,720,000
SPY March 31, 2025 220,385 $129,163,240 No longer tracked
XLE March 31, 2026 2,397,424 $107,579,883 No longer tracked
BKLN June 30, 2025 4,719,614 $97,696,009 No longer tracked
XLF March 31, 2026 1,031,297 $57,080,442 No longer tracked
TSLA June 30, 2026 80,000 $29,740,000 -17.9%
LQD March 31, 2026 229,000 $25,233,510 No longer tracked
GDX June 30, 2026 270,584 $24,831,493 No longer tracked
HYG Sept. 30, 2025 249,000 $20,081,850 No longer tracked
EWJ June 30, 2026 236,608 $19,979,179 No longer tracked
EMB June 30, 2026 105,000 $9,862,650
RSP Sept. 30, 2025 50,000 $9,087,000 No longer tracked
IJH Dec. 31, 2025 112,000 $7,309,120 No longer tracked
COPX June 30, 2026 82,000 $6,248,400 No longer tracked
IAC Dec. 31, 2025 180,000 $6,132,600 No longer tracked
KWEB June 30, 2026 211,376 $6,009,420 No longer tracked
EEM June 30, 2026 95,000 $5,395,050 No longer tracked
HRI Sept. 30, 2025 39,969 $5,263,517 42.4%
AVGO March 31, 2026 14,814 $5,127,125 17.7%
T Dec. 31, 2025 163,550 $4,618,652 1.6%
BWA March 31, 2026 95,810 $4,317,198 21.2%
IAC March 31, 2025 100,000 $4,314,000 No longer tracked
CRH Dec. 31, 2025 34,448 $4,130,315 -25.2%
XLP June 30, 2026 45,732 $3,749,109 No longer tracked
GOOG Dec. 31, 2025 14,140 $3,443,797 8.4%
XME March 31, 2026 33,100 $3,429,491 No longer tracked
DLTR Dec. 31, 2025 35,000 $3,302,950 5.4%
SLV June 30, 2026 39,684 $2,704,067 No longer tracked
LCIDXXXX Sept. 30, 2025 1,130,900 $2,386,199 No longer tracked
WYNN Sept. 30, 2025 25,000 $2,341,750 -23.8%
RRR June 30, 2026 43,442 $2,318,065 -6.2%
FLUT June 30, 2026 21,597 $2,201,814 0.0%
CZR Dec. 31, 2025 79,136 $2,138,650 26.6%
WSM Sept. 30, 2025 13,000 $2,123,810 21.7%
ETSY June 30, 2026 40,000 $1,999,200 9.5%
CNK March 31, 2026 85,000 $1,975,400 32.6%
VZ Sept. 30, 2025 45,000 $1,947,150 12.4%
BX June 30, 2026 16,814 $1,933,441 21.7%
NXST Dec. 31, 2025 9,710 $1,920,055 -6.8%
CCL June 30, 2026 72,904 $1,886,755 -9.1%
KMB June 30, 2026 19,316 $1,863,414 -0.5%
TPR Sept. 30, 2025 21,000 $1,844,010 15.3%
RRR Dec. 31, 2025 29,087 $1,776,052 -1.5%
CCL Dec. 31, 2025 60,000 $1,734,600 -14.9%
PBI June 30, 2026 154,442 $1,706,584 -7.8%
W March 31, 2025 38,000 $1,684,160 235.2%
WBD June 30, 2025 155,000 $1,663,150 147.6%
DLTR June 30, 2026 15,102 $1,653,820 7.2%
LSEA June 30, 2025 255,815 $1,642,332 No longer tracked
PRKS June 30, 2026 45,000 $1,469,700 -5.1%
CSGP June 30, 2026 35,444 $1,429,810 18.2%
ACI June 30, 2026 79,085 $1,347,608 -11.6%
CZR June 30, 2026 49,210 $1,300,620 -1.9%
PCG March 31, 2026 80,000 $1,285,600 3.1%
KHC March 31, 2026 52,779 $1,279,890 14.3%
FUN March 31, 2026 80,000 $1,227,200 -3.5%
CCOI June 30, 2025 20,000 $1,226,200 -79.2%
BYD Sept. 30, 2025 15,000 $1,173,450 -5.2%
WBD Dec. 31, 2025 60,000 $1,171,800 -1.6%
DIS Dec. 31, 2025 10,000 $1,145,000 -5.0%
PINS Dec. 31, 2025 35,000 $1,125,950 -9.8%
PCG Sept. 30, 2025 80,000 $1,115,200 20.2%
MSTR Dec. 31, 2025 3,100 $998,851 -26.2%
LTH June 30, 2026 36,000 $969,840 9.8%
OUT March 31, 2026 39,300 $947,130 14.5%
XLV June 30, 2026 6,000 $879,660 No longer tracked
EXPE Sept. 30, 2025 5,000 $843,400 52.5%
NCLH June 30, 2026 41,549 $776,966 -20.2%
KKRPRD June 30, 2026 17,465 $701,203 No longer tracked
APP Sept. 30, 2025 2,000 $700,160 -56.0%
NFLX March 31, 2026 6,000 $562,560 -16.1%
CABO Sept. 30, 2025 4,000 $543,240 -85.2%
FLYYQ Sept. 30, 2025 97,673 $487,388 No longer tracked
VSTS Sept. 30, 2025 81,241 $465,510 185.9%
BKNG June 30, 2025 100 $460,691 -96.3%
GDEN Dec. 31, 2025 19,455 $458,748 No longer tracked
LZ June 30, 2025 50,000 $430,500 -33.3%
XLF Sept. 30, 2025 8,000 $418,960 No longer tracked
LCID March 31, 2026 34,290 $362,445 -37.9%
TTWO June 30, 2026 1,743 $344,242 -6.2%
BELFB March 31, 2025 3,869 $319,076 249.8%
KRE Dec. 31, 2025 5,000 $316,500 No longer tracked
CAR June 30, 2026 1,873 $273,177 -4.6%
BYND Sept. 30, 2025 29,800 $104,002 657.1%
BBAIWS March 31, 2026 34,000 $54,570 No longer tracked
XLU June 30, 2026 380 $17,438 No longer tracked