Cinctive Capital Management LP
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Cinctive Capital Management LP reported 285 stock positions worth $1.3 billion. Its top holding was Kellanova (K) at 2.9% of the portfolio, followed by Beacon Roofing Supply (BECN, 2.7%) and Vistra (VST, 2.4%). Compared with Q4 2024, it opened 141 new positions, sold out of 177, added to 53 and reduced 87. The biggest buy was a new position in Kinder Morgan (KMI) and the biggest sale an exit from Antero Midstream (AM).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0001787258
- Portfolio Value
- $1.3B (Q1 2025)
- SEC Filing
- 0001172661-25-002039 ↗ filed May 15, 2025
Holdings Value
Holdings 285 stocks · $1.3B
| K Kellanova | 2.86% | 435,079 | $35.9M | Reduce -2.3% |
| BECN Beacon Roofing Supply Inc. | 2.73% | 276,950 | $34.3M | Add +277.0% |
| VST Vistra Corp. | 2.40% | 256,163 | $30.1M | Add +6.2% |
| KMI Kinder Morgan Inc. | 2.35% | 1,032,362 | $29.5M | New |
| CEG Constellation Energy | 2.18% | 135,769 | $27.4M | Reduce -39.6% |
| KD Kyndryl Holdings Inc. | 1.97% | 786,112 | $24.7M | Add +65.9% |
| ALGM Allegro Microsystems Inc. | 1.89% | 942,702 | $23.7M | New |
| HD Home Depot Inc. | 1.76% | 60,354 | $22.1M | Add +238.5% |
| TPR Tapestry Inc. | 1.75% | 311,341 | $21.9M | Reduce -14.2% |
| FYBR Frontier Communications Pare | 1.60% | 560,000 | $20.1M | Reduce -1.8% |
| DT Dynatrace Inc. | 1.59% | 421,763 | $19.9M | Add +120.5% |
| IEF iShares 7-10 Year Treasury B | 1.56% | 205,008 | $19.6M | New |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.48% | 443,393 | $18.5M | Reduce -11.1% |
| ITCI Intra-Cellular Therapies Inc. | 1.47% | 140,000 | $18.5M | New |
| GTLB Gitlab Inc. Class A | 1.43% | 381,317 | $17.9M | Add +1584.2% |
| WFC Wells Fargo & Co. | 1.31% | 227,975 | $16.4M | Reduce -6.5% |
| CHDN Churchill Downs Inc. | 1.27% | 143,420 | $15.9M | Add +74.2% |
| LZM Lifezone Metals Ltd. | 1.25% | 3,752,920 | $15.7M | Add +19.1% |
| MS Morgan Stanley | 1.20% | 128,641 | $15.0M | Add +112.2% |
| ORLY O'reilly Automotive Inc. | 0.93% | 8,146 | $11.7M | Add +42.0% |
| COF Capital One Financial Corp. | 0.92% | 64,465 | $11.6M | New |
| CVS CVS Health Corp. | 0.90% | 166,290 | $11.3M | New |
| BBWI Bath & Body Works Inc. | 0.87% | 361,218 | $11.0M | Add +107.8% |
| LPLA LPL Financial Holdings Inc. | 0.85% | 32,584 | $10.7M | Reduce -52.6% |
| BURL Burlington Stores Inc. | 0.85% | 44,514 | $10.6M | Add +470.1% |
| BSX Boston Scientific Corp. | 0.83% | 103,559 | $10.4M | New |
| NEE Nextera Energy Inc. | 0.82% | 145,705 | $10.3M | Add +1227.4% |
| SHW The Sherwin-Williams Co. | 0.74% | 26,632 | $9.3M | New |
| MPC Marathon Petroleum Corp. | 0.74% | 63,281 | $9.2M | Add +44.0% |
| ROST Ross Stores Inc. | 0.71% | 70,121 | $9.0M | Add +6.3% |
| SRE Sempra | 0.71% | 125,011 | $8.9M | Reduce -31.7% |
| ALL Allstate Corp. | 0.71% | 42,788 | $8.9M | Add +74.7% |
| BLK BlackRock Inc. | 0.70% | 9,309 | $8.8M | New |
| INTC Intel Corp. | 0.70% | 386,983 | $8.8M | Add +25.0% |
| H Hyatt Hotels Corp. Class A | 0.70% | 71,391 | $8.7M | New |
| MXL Maxlinear Inc. | 0.69% | 792,833 | $8.6M | New |
| VLO Valero Energy Corp. | 0.68% | 64,772 | $8.6M | New |
| JPM JPMorgan Chase & Co. | 0.68% | 34,566 | $8.5M | New |
| PSMT Pricesmart Inc. | 0.66% | 94,486 | $8.3M | New |
| BATRK Atlanta Braves Holdings in-C | 0.66% | 206,291 | $8.3M | New |
| PEG Public Service Enterprise GP | 0.64% | 97,003 | $8.0M | Reduce -69.9% |
| KDP Keurig Dr Pepper Inc. | 0.63% | 229,468 | $7.9M | New |
| META Meta Platforms Inc. Class A | 0.63% | 13,604 | $7.8M | Add +48.1% |
| FHN First Horizon Corp. | 0.62% | 397,954 | $7.7M | Add +103.3% |
| BIRK Birkenstock Holding PLC | 0.61% | 165,487 | $7.6M | Add +141.2% |
| CAH Cardinal Health Inc. | 0.60% | 54,566 | $7.5M | Reduce -62.1% |
| WELL Welltower Inc. | 0.60% | 48,884 | $7.5M | Reduce -43.4% |
| CHKP Check Point Software Tech | 0.59% | 32,448 | $7.4M | New |
| COR Cencora Inc. | 0.59% | 26,392 | $7.3M | New |
| ELV Elevance Health Inc. | 0.57% | 16,293 | $7.1M | New |
| EW Edwards Lifesciences Corp. | 0.56% | 96,950 | $7.0M | Reduce -34.9% |
| CDNS Cadence Design SYS Inc. | 0.56% | 27,583 | $7.0M | New |
| NVDA Nvidia Corp. | 0.56% | 64,656 | $7.0M | Add +815.2% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.55% | 81,849 | $6.9M | New |
| ONON On Holding AG Class A filed as ON HLDG AG | 0.54% | 154,223 | $6.8M | New |
| VRTX Vertex Pharmaceuticals Inc. | 0.54% | 13,891 | $6.7M | New |
| ALNY Alnylam Pharmaceuticals Inc. | 0.54% | 24,862 | $6.7M | Add +36.3% |
| DKS Dick's Sporting Goods Inc. | 0.52% | 32,325 | $6.5M | Reduce -28.6% |
| GAP The Gap Inc. | 0.52% | 315,637 | $6.5M | Add +31.4% |
| AZN Astrazeneca PLC-Spons ADR | 0.52% | 88,446 | $6.5M | Add +4.5% |
| BL Blackline Inc. | 0.51% | 132,151 | $6.4M | Add +10.3% |
| TRU Transunion | 0.51% | 76,367 | $6.3M | Add +133.4% |
| BHF Brighthouse Financial Inc. | 0.50% | 109,136 | $6.3M | New |
| ISRG Intuitive Surgical Inc. | 0.50% | 12,706 | $6.3M | Reduce -56.6% |
| CNNE Cannae Holdings Inc. | 0.50% | 342,052 | $6.3M | New |
| FIVE Five Below | 0.50% | 82,969 | $6.2M | Reduce -4.1% |
| XOP SS SPDR S&P Og Exp & Prod | 0.49% | 47,038 | $6.2M | Add +1056.6% |
| AMT American Tower Corp. | 0.48% | 27,671 | $6.0M | New |
| DLTR Dollar Tree Inc. | 0.48% | 79,904 | $6.0M | Reduce -29.6% |
| DECK Deckers Outdoor Corp. | 0.47% | 52,808 | $5.9M | Reduce -12.9% |
| SCHW Schwab (charles) Corp. | 0.47% | 75,400 | $5.9M | New |
| ACI Albertsons Cos Inc. Class A | 0.46% | 261,772 | $5.8M | Add +31.1% |
| WAT Waters Corp. | 0.46% | 15,592 | $5.7M | New |
| PRVA Privia Health Group Inc. | 0.45% | 253,783 | $5.7M | Add +82.2% |
| PWR Quanta Services Inc. | 0.45% | 22,307 | $5.7M | Add +16.1% |
| CNK Cinemark Holdings Inc. | 0.45% | 224,980 | $5.6M | Add +20.3% |
| UNH Unitedhealth Group Inc. | 0.44% | 10,514 | $5.5M | Add +17.8% |
| KEY Keycorp | 0.44% | 344,111 | $5.5M | New |
| DAL Delta Air Lines Inc. | 0.43% | 124,730 | $5.4M | Reduce -25.0% |
| HCA HCA Healthcare Inc. | 0.43% | 15,448 | $5.3M | New |
| WTW Willis Towers Watson PLC | 0.41% | 15,241 | $5.2M | Add +46.6% |
| LVS Las Vegas Sands Corp. | 0.39% | 126,359 | $4.9M | New |
| CSCO Cisco Systems Inc. | 0.39% | 78,944 | $4.9M | New |
| KKR KKR & Co. Inc. | 0.39% | 41,885 | $4.8M | Reduce -47.4% |
| SITM Sitime Corp. | 0.39% | 31,643 | $4.8M | New |
| TXRH Texas Roadhouse Inc. | 0.38% | 28,933 | $4.8M | Add +239.4% |
| DD Dupont DE Nemours Inc. | 0.38% | 64,296 | $4.8M | New |
| IVZ Invesco Ltd. | 0.37% | 307,455 | $4.7M | New |
| GEO The Geo Group Inc. | 0.37% | 158,847 | $4.6M | New |
| XOM Exxon Mobil Corp. | 0.36% | 37,758 | $4.5M | New |
| PFE Pfizer Inc. | 0.36% | 176,738 | $4.5M | Reduce -2.5% |
| DTM DT Midstream Inc. | 0.35% | 45,890 | $4.4M | New |
| BBY Best Buy Co. Inc. | 0.35% | 60,123 | $4.4M | Add +1754.5% |
| APO Apollo Global Management Inc. | 0.35% | 32,077 | $4.4M | Reduce -55.5% |
| ANF Abercrombie & Fitch Co. Class A | 0.34% | 56,292 | $4.3M | New |
| PAGP Plains GP Holdings LP | 0.34% | 196,638 | $4.2M | Reduce -81.2% |
| VRNA Verona Pharma Ltd. | 0.33% | 65,375 | $4.2M | New |
| FRT Federal Realty Invs Trust | 0.33% | 42,304 | $4.1M | Reduce -7.0% |
| PGR Progressive Corp. | 0.33% | 14,537 | $4.1M | New |
| GH Guardant Health Inc. | 0.32% | 93,686 | $4.0M | New |
Options reported separately and not counted above: IEF calls ($19.1M), DLTR calls ($11.3M), HUM calls ($6.5M), XLC puts ($4.8M), CC calls ($2.7M), DKS puts ($2.0M), ALGM calls ($2.0M), SLV calls ($1.5M), PAAS calls ($646K), CSTM calls ($505K), SLNO calls ($357K).
Other holdings (4): bonds, preferreds, convertibles and warrants · $2.0M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| CVE.WS Cenovus Energy Inc. -CW26 | *W EXP 01/01/202 | 181,700 | $1.7M | No change |
| LZM.WS Lifezone Metals Ltd. -28 | *W EXP 07/05/202 | 550,000 | $253K | No change |
| FBYDW Falcon's Beyond Global-27 | *W EXP 10/06/202 | 11,747 | $12K | No change |
| SESCW Ivanhoe Capital Class A -CW27 | *W EXP 12/10/202 | 67,024 | $4K | Reduce -5.6% |
Total filed on the 13F, all lines: $1.3B.
Portfolio Sells Q4 2024 → Q1 2025
| AM Antero Midstream Corp. | Sold out | 0.00% | −2.02 |
| WMB Williams Cos Inc. | Sold out | 0.00% | −1.98 |
| DFS Discover Financial Services | Sold out | 0.00% | −1.95 |
| DUK Duke Energy Corp. | Sold out | 0.00% | −1.86 |
| SUM Summit Materials Inc. Class A | Sold out | 0.00% | −1.58 |
| AJG Arthur J Gallagher & Co. | Reduce -94.7% | 0.13% | −1.20 |
| OKE Oneok Inc. | Sold out | 0.00% | −1.07 |
| HCP Hashicorp Inc. Class A | Sold out | 0.00% | −0.95 |
| PEG Public Service Enterprise GP | Reduce -69.9% | 0.64% | −0.83 |
| BKV BKV Corporation | Sold out | 0.00% | −0.78 |
| PODD Insulet Corp. | Sold out | 0.00% | −0.73 |
| BE Bloom Energy Corp. Class A | Sold out | 0.00% | −0.72 |
| NET Cloudflare Inc. Class A | Sold out | 0.00% | −0.71 |
| AMZN Amazon.com Inc. | Sold out | 0.00% | −0.70 |
| PAGP Plains GP Holdings LP | Reduce -81.2% | 0.34% | −0.70 |
| MDB Mongodb Inc. | Sold out | 0.00% | −0.70 |
| A Agilent Technologies Inc. | Sold out | 0.00% | −0.70 |
| BMY Bristol-Myers Squibb Co. | Sold out | 0.00% | −0.70 |
| CNP Centerpoint Energy Inc. | Sold out | 0.00% | −0.66 |
| DGX Quest Diagnostics Inc. | Reduce -94.9% | 0.06% | −0.65 |
| FDX FedEx Corp. | Sold out | 0.00% | −0.64 |
| UAL United Airlines Holdings Inc. | Sold out | 0.00% | −0.61 |
| PRMB Primo Brands Corp. | Reduce -89.3% | 0.14% | −0.60 |
| MSFT Microsoft Corp. | Reduce -93.6% | 0.05% | −0.59 |
| FITB Fifth Third Bancorp | Sold out | 0.00% | −0.58 |
| BA The Boeing Co. | Sold out | 0.00% | −0.58 |
| HUBS HubSpot Inc. | Reduce -83.7% | 0.14% | −0.56 |
| TER Teradyne Inc. | Sold out | 0.00% | −0.54 |
| INFA Informatica Inc. Class A | Sold out | 0.00% | −0.53 |
| CEG Constellation Energy | Reduce -39.6% | 2.18% | −0.53 |
| CG The Carlyle Group Inc. | Sold out | 0.00% | −0.52 |
| DTE DTE Energy Company | Sold out | 0.00% | −0.49 |
| TRP TC Energy Corp. | Sold out | 0.00% | −0.49 |
| GPI Group 1 Automotive Inc. | Sold out | 0.00% | −0.48 |
| WYNN WYNN Resorts Ltd. | Sold out | 0.00% | −0.48 |
| HBAN Huntington Bancshares Inc. | Sold out | 0.00% | −0.46 |
| IOT Samsara Inc. Class A | Reduce -91.3% | 0.06% | −0.46 |
| BDX Becton Dickinson and Co. | Sold out | 0.00% | −0.46 |
| RGEN Repligen Corp. | Reduce -96.8% | 0.02% | −0.46 |
| FUN Six Flags Entertainment Corp. | Reduce -89.8% | 0.06% | −0.46 |
| SMAR Smartsheet Inc. Class A | Sold out | 0.00% | −0.45 |
| TJX TJX Companies Inc. | Sold out | 0.00% | −0.45 |
| AMED Amedisys Inc. | Sold out | 0.00% | −0.44 |
| ESTC Elastic NV | Sold out | 0.00% | −0.42 |
| ICUI Icu Medical Inc. | Sold out | 0.00% | −0.42 |
| AER Aercap Holdings NV | Sold out | 0.00% | −0.42 |
| AEM Agnico Eagle Mines Ltd. | Reduce -92.7% | 0.07% | −0.42 |
| SHAK Shake Shack Inc. Class A | Sold out | 0.00% | −0.41 |
| GILD Gilead Sciences Inc. | Reduce -87.5% | 0.12% | −0.41 |
| MCO Moody's Corp. | Sold out | 0.00% | −0.37 |
Portfolio Buys Q4 2024 → Q1 2025
| KMI Kinder Morgan Inc. | New | 2.35% | +2.35 |
| BECN Beacon Roofing Supply Inc. | Add +277.0% | 2.73% | +2.33 |
| ALGM Allegro Microsystems Inc. | New | 1.89% | +1.89 |
| IEF iShares 7-10 Year Treasury B | New | 1.56% | +1.56 |
| ITCI Intra-Cellular Therapies Inc. | New | 1.47% | +1.47 |
| HD Home Depot Inc. | Add +238.5% | 1.76% | +1.39 |
| GTLB Gitlab Inc. Class A | Add +1584.2% | 1.43% | +1.36 |
| KD Kyndryl Holdings Inc. | Add +65.9% | 1.97% | +1.08 |
| DT Dynatrace Inc. | Add +120.5% | 1.59% | +1.03 |
| COF Capital One Financial Corp. | New | 0.92% | +0.92 |
| CVS CVS Health Corp. | New | 0.90% | +0.90 |
| BSX Boston Scientific Corp. | New | 0.83% | +0.83 |
| MS Morgan Stanley | Add +112.2% | 1.20% | +0.79 |
| NEE Nextera Energy Inc. | Add +1227.4% | 0.82% | +0.78 |
| SHW The Sherwin-Williams Co. | New | 0.74% | +0.74 |
| BURL Burlington Stores Inc. | Add +470.1% | 0.85% | +0.73 |
| BLK BlackRock Inc. | New | 0.70% | +0.70 |
| H Hyatt Hotels Corp. Class A | New | 0.70% | +0.70 |
| MXL Maxlinear Inc. | New | 0.69% | +0.69 |
| VLO Valero Energy Corp. | New | 0.68% | +0.68 |
| CHDN Churchill Downs Inc. | Add +74.2% | 1.27% | +0.68 |
| JPM JPMorgan Chase & Co. | New | 0.68% | +0.68 |
| PSMT Pricesmart Inc. | New | 0.66% | +0.66 |
| BATRK Atlanta Braves Holdings in-C | New | 0.66% | +0.66 |
| KDP Keurig Dr Pepper Inc. | New | 0.63% | +0.63 |
| VST Vistra Corp. | Add +6.2% | 2.40% | +0.61 |
| CHKP Check Point Software Tech | New | 0.59% | +0.59 |
| COR Cencora Inc. | New | 0.59% | +0.59 |
| ELV Elevance Health Inc. | New | 0.57% | +0.57 |
| ORLY O'reilly Automotive Inc. | Add +42.0% | 0.93% | +0.56 |
| CDNS Cadence Design SYS Inc. | New | 0.56% | +0.56 |
| BNY Bank of New York Mellon Corp. | New | 0.55% | +0.55 |
| ONON On Holding AG Class A | New | 0.54% | +0.54 |
| VRTX Vertex Pharmaceuticals Inc. | New | 0.54% | +0.54 |
| BBWI Bath & Body Works Inc. | Add +107.8% | 0.87% | +0.51 |
| NVDA Nvidia Corp. | Add +815.2% | 0.56% | +0.51 |
| BHF Brighthouse Financial Inc. | New | 0.50% | +0.50 |
| CNNE Cannae Holdings Inc. | New | 0.50% | +0.50 |
| AMT American Tower Corp. | New | 0.48% | +0.48 |
| SCHW Schwab (charles) Corp. | New | 0.47% | +0.47 |
| XOP SS SPDR S&P Og Exp & Prod | Add +1056.6% | 0.49% | +0.47 |
| WAT Waters Corp. | New | 0.46% | +0.46 |
| ALL Allstate Corp. | Add +74.7% | 0.71% | +0.45 |
| KEY Keycorp | New | 0.44% | +0.44 |
| HCA HCA Healthcare Inc. | New | 0.43% | +0.43 |
| MPC Marathon Petroleum Corp. | Add +44.0% | 0.74% | +0.40 |
| FHN First Horizon Corp. | Add +103.3% | 0.62% | +0.40 |
| BIRK Birkenstock Holding PLC | Add +141.2% | 0.61% | +0.40 |
| LVS Las Vegas Sands Corp. | New | 0.39% | +0.39 |
| CSCO Cisco Systems Inc. | New | 0.39% | +0.39 |
Options Activity Q4 2024 → Q1 2025
| KMI Kinder Morgan Inc. | put | Sold out | 800,000 | $21.9Mbefore exit |
| IEF iShares 7-10 Year Treasury B | call | New | 200,000 | $19.1M |
| AAPL Apple Inc. | put | Sold out | 75,000 | $18.8Mbefore exit |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Sold out | 28,500 | $16.7Mbefore exit |
| DLTR Dollar Tree Inc. | call | New | 150,000 | $11.3M |
| INTC Intel Corp. | call | Sold out | 450,000 | $9.0Mbefore exit |
| TLT iShares 20+ Year Treasury BD | put | Sold out | 100,000 | $8.7Mbefore exit |
| SGI Somnigroup International Inc. | call | Sold out | 150,000 | $8.5Mbefore exit |
| SAIC Science Applications Inte | put | Sold out | 70,000 | $7.8Mbefore exit |
| HUM Humana Inc. | call | New | 24,500 | $6.5M |
| XLC SS Comm Select Sector SPDR | put | New | 50,000 | $4.8M |
| M Macy's Inc. | call | Sold out | 200,000 | $3.4Mbefore exit |
| SNAP Snap Inc. Class A | call | Sold out | 200,000 | $2.2Mbefore exit |
| DKS Dick's Sporting Goods Inc. | put | New | 10,000 | $2.0M |
| ALGM Allegro Microsystems Inc. | call | New | 80,000 | $2.0M |
| FWRD Forward Air Corp. | call | Sold out | 50,000 | $1.6Mbefore exit |
| SLV iShares Silver Trust | call | Add +25.0% | 50,000 | $1.5M |
| RNAM Avidity Biosciences Inc. | put | Sold out | 50,000 | $1.5Mbefore exit |
| HIMS Hims & Hers Health Inc. | put | Sold out | 50,000 | $1.2Mbefore exit |
| AMTM Amentum Holdings Inc. | call | Sold out | 50,000 | $1.1Mbefore exit |
| CENX Century Aluminum Company | call | Sold out | 50,000 | $911Kbefore exit |
| PAAS Pan American Silver Corp. | call | New | 25,000 | $646K |
| SLNO Soleno Therapeutics Inc. | call | New | 5,000 | $357K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2024 → Q1 2025
| SESCW Ivanhoe Capital Class A -CW27 | *W EXP 12/10/202 | Reduce -5.6% | 67,024 | $4K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 396 | $2.5B | VST, IWM, APGE, PKG, HD |
| Q1 2026 | 345 | $1.5B | VST, VLO, FPS, HD, LZM |
| Q4 2025 | 374 | $1.7B | VST, CVX, FYBR, EXAS, CYBR |
| Q3 2025 | 371 | $2.0B | VST, CYBR, ROST, K, FYBR |
| Q2 2025 | 336 | $1.8B | VST, FLR, CEG, K, BPMC |
| Q1 2025 | 285 | $1.3B | K, BECN, VST, KMI, CEG |
| Q4 2024 | 321 | $1.9B | CEG, AM, WMB, DFS, K |
| Q3 2024 | 340 | $1.7B | VST, AM, SRCL, BKV, KD |
| Q2 2024 | 349 | $1.9B | VST, AM, MPC, WFC, ARES |
| Q1 2024 | 357 | $1.9B | GE, AES, PI, NEE, VST |