DAVIDSON KEMPNER CAPITAL MANAGEMENT LP Q4 2025 Filing

Filed February 17, 2026

Portfolio Value

$6.3B

Holdings

211

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (211 positions)

#	Stock	Shares	Value	% Portfolio	Type
1	SPYSPDR S&P 500 ETF TR TR UNIT	1,567,017	$1.1B	16.96%	Put
2	NDQINVESCO QQQ TR UNIT SER 1	660,000	$404.0M	6.42%	Put
3	IWMISHARES TR RUSSELL 2000 ETF	1,000,000	$246.0M	3.91%	Put
4	BABA 0.5 06/01/31ALIBABA GROUP HLDG LTD	110,000,000	$170.0M	2.70%
5	RIVN 4.625 03/15/29RIVIAN AUTOMOTIVE INC	103,500,000	$129.0M	2.05%
6	DAYDAYFORCE INC COM	1,814,721	$125.0M	1.99%
7	UBER 0.875 12/01/28 2028UBER TECHNOLOGIES INC	90,000,000	$116.0M	1.84%
8	CFLT 0 01/15/27CONFLUENT INC	115,000,000	$111.0M	1.76%
9	ARKOARKO CORP COM	23,139,671	$105.0M	1.67%
10	RDFN 0.5 04/01/27REDFIN CORP	100,000,000	$94.0M	1.49%
11	F 0 03/15/26FORD MTR CO	87,500,000	$90.0M	1.43%
12	SATSECHOSTAR CORP CL A	723,678	$78.0M	1.24%
13	LI 0.25 05/01/28LI AUTO INC	75,000,000	$75.0M	1.19%
14	SNOW 0 10/01/27SNOWFLAKE INC	50,000,000	$74.0M	1.18%
15	TCOM 0.75 06/15/29TRIP COM GROUP LTD	60,000,000	$73.0M	1.16%
16	BBARRICK MNG CORP COM SHS	1,659,141	$72.0M	1.14%
17	MSFTMICROSOFT CORP COM	145,584	$70.0M	1.11%
18	NVTSNAVITAS SEMICONDUCTOR CORP COM	9,629,629	$68.0M	1.08%
19	ETSY 1 06/15/30ETSY INC	67,500,000	$68.0M	1.08%
20	JD 0.25 06/01/29JD.COM INC	65,000,000	$64.0M	1.02%
21	CSXCSX CORP COM	1,755,078	$63.0M	1.00%
22	TCOM 1.5 07/01/27 MTNHUAZHU GROUP LTD	47,500,000	$63.0M	1.00%
23	ETSY 0.25 06/15/28ETSY INC	70,000,000	$62.0M	0.98%
24	CHRWC H ROBINSON WORLDWIDE INC COM NEW	390,000	$62.0M	0.98%
25	BABOEING CO COM	280,000	$60.0M	0.95%
26	HTHT 3 05/01/26H WORLD GROUP LTD	45,000,000	$57.0M	0.91%
27	ALRM 2.25 06/01/29ALARM COM HLDGS INC	60,000,000	$57.0M	0.91%
28	TDSTELEPHONE & DATA SYS INC COM NEW	1,411,700	$57.0M	0.91%
29	CVNACARVANA CO CL A	131,750	$55.0M	0.87%
30	TMUST-MOBILE US INC COM	262,178	$53.0M	0.84%
31	METAMETA PLATFORMS INC CL A	81,145	$53.0M	0.84%
32	NVDANVIDIA CORPORATION COM	288,200	$53.0M	0.84%
33	WB 1.375 12/01/30WEIBO CORP	43,500,000	$50.0M	0.79%
34	RPD 0.25 03/15/27RAPID7 INC	52,500,000	$49.0M	0.78%
35	MCHP 0.75 06/01/30MICROCHIP TECHNOLOGY INC	50,000,000	$49.0M	0.78%
36	VMCVULCAN MATLS CO COM	175,000	$49.0M	0.78%
37	K6BKBR INC COM	1,144,884	$46.0M	0.73%
38	TDYTELEDYNE TECHNOLOGIES INC COM	87,500	$44.0M	0.70%
39	TAT&T INC COM	1,794,934	$44.0M	0.70%
40	NIO 4.625 10/15/30NIO INC	50,000,000	$44.0M	0.70%
41	AXTIAXT INC COM	2,734,693	$44.0M	0.70%
42	FYBRFRONTIER COMMUNICATIONS PARE COM	1,116,098	$42.0M	0.67%
43	ZZILLOW GROUP INC CL C CAP STK	601,600	$41.0M	0.65%
44	NVRIENVIRI CORP COM	2,258,800	$40.0M	0.64%
45	SNAP 0.125 03/01/28SNAP INC	45,000,000	$40.0M	0.64%
46	DDOG 0 12/01/29DATADOG INC	40,000,000	$39.0M	0.62%
47	BURL 1.25 12/15/27BURLINGTON STORES INC	25,000,000	$37.0M	0.59%
48	SGRYSURGERY PARTNERS INC COM	2,371,464	$36.0M	0.57%
49	BILL 0 04/01/30BILL HOLDINGS INC	40,000,000	$36.0M	0.57%
50	EXAS 0.375 03/01/28EXACT SCIENCES CORP	35,000,000	$35.0M	0.56%
51	AOMRANGEL OAK MORTGAGE REIT INC COM	4,134,210	$35.0M	0.56%
52	BKNGBOOKING HOLDINGS INC COM	6,662	$35.0M	0.56%
53	CDTXCIDARA THERAPEUTICS INC COM NEW	155,631	$34.0M	0.54%
54	LIILENNOX INTL INC COM	70,000	$33.0M	0.52%
55	BLCOBAUSCH PLUS LOMB CORP COMMON SHARES	1,939,711	$33.0M	0.52%
56	COHRCOHERENT CORP COM	175,000	$32.0M	0.51%
57	CEGCONSTELLATION ENERGY CORP COM	89,205	$31.0M	0.49%
58	DISDISNEY WALT CO COM	250,000	$28.0M	0.44%
59	MAMASTERCARD INCORPORATED CL A	50,000	$28.0M	0.44%
60	LINLINDE PLC SHS	65,000	$27.0M	0.43%
61	ALCALCON AG ORD SHS	347,883	$27.0M	0.43%
62	SYNA 0.75 12/01/31SYNAPTICS INC	25,000,000	$26.0M	0.41%
63	ASMLASML HOLDING N V N Y REGISTRY SHS	25,000	$26.0M	0.41%
64	SPOT 0 03/15/26SPOTIFY USA INC	23,500,000	$26.0M	0.41%
65	ANETARISTA NETWORKS INC COM SHS	200,000	$26.0M	0.41%
66	AMEAMETEK INC COM	125,000	$25.0M	0.40%
67	BABAALIBABA GROUP HOLDING	25,000,000	$25.0M	0.40%
68	AVGOBROADCOM INC COM	75,000	$25.0M	0.40%
69	GES 3.75 04/15/28GUESS INC NOTE	25,000,000	$24.0M	0.38%
70	BWXTBWX TECHNOLOGIES INC COM	134,947	$23.0M	0.37%
71	USFDUS FOODS HLDG CORP COM	316,262	$23.0M	0.37%
72	SNPSSYNOPSYS INC COM	50,000	$23.0M	0.37%
73	AMZNAMAZON COM INC COM	100,000	$23.0M	0.37%
74	DASHDOORDASH INC CL A	100,000	$22.0M	0.35%
75	SUNCSUNOCOCORP LLC COM SHS LLC	451,767	$22.0M	0.35%
76	RBLXROBLOX CORP CL A	269,445	$21.0M	0.33%
77	MIRMIRION TECHNOLOGIES INC COM CL A	928,513	$21.0M	0.33%
78	WGO 3.25 01/15/30WINNEBAGO INDS INC	23,000,000	$21.0M	0.33%
79	CLSK 0 02/15/32CLEANSPARK INC	28,000,000	$20.0M	0.32%
80	NBR 1.75 06/15/29NABORS INDS INC	25,000,000	$20.0M	0.32%
81	TELTE CONNECTIVITY PLC ORD SHS	90,000	$20.0M	0.32%
82	CLSK 0 06/15/30CLEANSPARK INC	20,000,000	$20.0M	0.32%
83	STXSEAGATE TECHNOLOGY HLDNGS PL ORD SHS	75,000	$20.0M	0.32%
84	UNPUNION PAC CORP COM	90,000	$20.0M	0.32%
85	TET1 ENERGY INC COM NEW	2,929,213	$19.0M	0.30%
86	FUNSIX FLAGS ENTERTAINMENT CORP COM	1,177,943	$18.0M	0.29%
87	BSY 0.375 07/01/27BENTLEY SYS INC	20,000,000	$18.0M	0.29%
88	IMCR 2.5 02/01/30IMMUNOCORE HLDGS PLC	20,000,000	$18.0M	0.29%
89	LRCXLAM RESEARCH CORP COM NEW	100,000	$17.0M	0.27%
90	NVTNVENT ELECTRIC PLC SHS	175,000	$17.0M	0.27%
91	TMDXTRANSMEDICS GROUP INC COM	146,400	$17.0M	0.27%
92	UBERUBER TECHNOLOGIES INC COM	200,000	$16.0M	0.25%
93	SNOWSNOWFLAKE INC COM SHS	75,000	$16.0M	0.25%
94	WWAYFAIR INC CL A	150,000	$15.0M	0.24%
95	CNMCORE & MAIN INC CL A	300,000	$15.0M	0.24%
96	GTESGATES INDL CORP PLC ORD SHS	700,000	$15.0M	0.24%
97	MLB1MERCADOLIBRE INC COM	7,500	$15.0M	0.24%
98	MDLNMEDLINE INC COM CL A	347,500	$14.0M	0.22%
99	RRRICHTECH ROBOTICS INC CL B	4,500,000	$14.0M	0.22%	Call
100	ADSKAUTODESK INC COM	50,000	$14.0M	0.22%

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