Cinctive Capital Management LP
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Cinctive Capital Management LP reported 336 stock positions worth $1.8 billion. Its top holding was Vistra (VST) at 3.1% of the portfolio, followed by Fluor (FLR, 2.3%) and Constellation Energy (CEG, 2.2%). Compared with Q1 2025, it opened 178 new positions, sold out of 127, added to 97 and reduced 58. The biggest buy was Fluor (FLR, shares +2430%) and the biggest sale an exit from Beacon Roofing Supply (BECN).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0001787258
- Portfolio Value
- $1.8B (Q2 2025)
- SEC Filing
- 0001172661-25-003355 ↗ filed Aug 14, 2025
Holdings Value
Holdings 336 stocks · $1.8B
| VST Vistra Corp. | 3.15% | 290,599 | $56.3M | Add +13.4% |
| FLR Fluor Corp. | 2.27% | 793,269 | $40.7M | Add +2429.6% |
| CEG Constellation Energy | 2.18% | 120,785 | $39.0M | Reduce -11.0% |
| K Kellanova | 2.02% | 453,724 | $36.1M | Add +4.3% |
| BPMC Blueprint Medicines Corp. | 1.90% | 265,000 | $34.0M | Add +749.5% |
| PEG Public Service Enterprise GP | 1.44% | 305,456 | $25.7M | Add +214.9% |
| CFG Citizens Financial Group | 1.34% | 534,250 | $23.9M | New |
| INFA Informatica Inc. Class A | 1.28% | 937,361 | $22.8M | New |
| WMB Williams Cos Inc. | 1.25% | 355,052 | $22.3M | New |
| FYBR Frontier Communications Pare | 1.23% | 605,000 | $22.0M | Add +8.0% |
| SRE Sempra | 1.20% | 282,922 | $21.4M | Add +126.3% |
| DLTR Dollar Tree Inc. | 1.20% | 216,176 | $21.4M | Add +170.5% |
| DUK Duke Energy Corp. | 1.18% | 178,971 | $21.1M | New |
| TPR Tapestry Inc. | 1.06% | 215,743 | $18.9M | Reduce -30.7% |
| ULTA Ulta Beauty Inc. | 1.05% | 40,320 | $18.9M | New |
| VLO Valero Energy Corp. | 1.04% | 137,778 | $18.5M | Add +112.7% |
| KMI Kinder Morgan Inc. | 1.00% | 608,100 | $17.9M | Reduce -41.1% |
| NVDA Nvidia Corp. | 0.99% | 111,675 | $17.6M | Add +72.7% |
| BE Bloom Energy Corp. Class A | 0.96% | 716,558 | $17.1M | New |
| KEY Keycorp | 0.92% | 940,240 | $16.4M | Add +173.2% |
| LZM Lifezone Metals Ltd. | 0.89% | 3,862,836 | $15.9M | Add +2.9% |
| MS Morgan Stanley | 0.87% | 110,106 | $15.5M | Reduce -14.4% |
| AR Antero Resources Corp. | 0.86% | 381,606 | $15.4M | New |
| HD Home Depot Inc. | 0.85% | 41,469 | $15.2M | Reduce -31.3% |
| CHDN Churchill Downs Inc. | 0.82% | 145,785 | $14.7M | Add +1.6% |
| COF Capital One Financial Corp. | 0.80% | 67,076 | $14.3M | Add +4.0% |
| RKT Rocket Cos Inc. Class A | 0.79% | 994,742 | $14.1M | Add +2300.3% |
| CFLT Confluent Inc. Class A | 0.78% | 561,831 | $14.0M | New |
| CSX CSX Corp. | 0.77% | 422,933 | $13.8M | New |
| HBAN Huntington Bancshares Inc. | 0.74% | 785,846 | $13.2M | New |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.73% | 274,252 | $13.0M | Reduce -38.1% |
| FHN First Horizon Corp. | 0.72% | 607,277 | $12.9M | Add +52.6% |
| INTC Intel Corp. | 0.71% | 564,208 | $12.6M | Add +45.8% |
| AMZN Amazon.com Inc. | 0.71% | 57,516 | $12.6M | New |
| DAL Delta Air Lines Inc. | 0.70% | 255,660 | $12.6M | Add +105.0% |
| JPM JPMorgan Chase & Co. | 0.69% | 42,679 | $12.4M | Add +23.5% |
| FLEX Flex Ltd. | 0.69% | 245,739 | $12.3M | New |
| EW Edwards Lifesciences Corp. | 0.68% | 156,228 | $12.2M | Add +61.1% |
| ORLY O'reilly Automotive Inc. | 0.67% | 133,213 | $12.0M | Add +9.0% |
| LNG Cheniere Energy Inc. | 0.67% | 49,199 | $12.0M | New |
| PSMT Pricesmart Inc. | 0.65% | 111,269 | $11.7M | Add +17.8% |
| MD Pediatrix Medical Group Inc. | 0.62% | 775,733 | $11.1M | New |
| AMD Advanced Micro Devices | 0.62% | 78,209 | $11.1M | Add +1754.2% |
| BRO Brown & Brown Inc. | 0.62% | 99,886 | $11.1M | New |
| WMT Walmart Inc. | 0.62% | 113,149 | $11.1M | New |
| GMS GMS Inc. | 0.61% | 100,000 | $10.9M | New |
| MPC Marathon Petroleum Corp. | 0.60% | 64,743 | $10.8M | Add +2.3% |
| BHF Brighthouse Financial Inc. | 0.60% | 199,836 | $10.7M | Add +83.1% |
| ROST Ross Stores Inc. | 0.59% | 82,698 | $10.6M | Add +17.9% |
| DDOG Datadog Inc. Class A | 0.59% | 78,065 | $10.5M | New |
| FCX Freeport-McMoran Inc. | 0.57% | 233,766 | $10.1M | New |
| ISRG Intuitive Surgical Inc. | 0.56% | 18,373 | $10.0M | Add +44.6% |
| A Agilent Technologies Inc. | 0.55% | 83,052 | $9.8M | New |
| OKE Oneok Inc. | 0.54% | 117,558 | $9.6M | New |
| WDC Western Digital Corp. | 0.53% | 147,790 | $9.5M | New |
| BLDR Builders Firstsource Inc. | 0.52% | 79,734 | $9.3M | New |
| BURL Burlington Stores Inc. | 0.52% | 39,682 | $9.2M | Reduce -10.9% |
| MXL Maxlinear Inc. | 0.51% | 643,028 | $9.1M | Reduce -18.9% |
| AGI Alamos Gold Inc. Class A | 0.50% | 338,134 | $9.0M | New |
| PLNT Planet Fitness Inc. Class A | 0.50% | 82,002 | $8.9M | Add +745.9% |
| ICE Intercontinental Exchange Inc. | 0.49% | 47,772 | $8.8M | New |
| BG Bunge Global SA | 0.49% | 108,527 | $8.7M | New |
| BATRK Atlanta Braves Holdings in-C | 0.49% | 185,623 | $8.7M | Reduce -10.0% |
| BBIO Bridgebio Pharma Inc. | 0.47% | 194,360 | $8.4M | New |
| EVR Evercore Inc. Class A | 0.46% | 30,626 | $8.3M | Add +291.4% |
| TXN Texas Instruments Inc. | 0.45% | 38,694 | $8.0M | Add +120.4% |
| SPTN Spartannash Co. | 0.44% | 300,000 | $7.9M | New |
| CG The Carlyle Group Inc. | 0.44% | 153,541 | $7.9M | New |
| EXE Expand Energy Corp. | 0.44% | 67,430 | $7.9M | Add +423.6% |
| MASI Masimo Corp. | 0.44% | 46,787 | $7.9M | New |
| PRVA Privia Health Group Inc. | 0.44% | 340,971 | $7.8M | Add +34.4% |
| MCD McDonald's Corp. | 0.44% | 26,833 | $7.8M | New |
| LRCX Lam Research Corp. | 0.44% | 80,539 | $7.8M | Add +68.2% |
| H Hyatt Hotels Corp. Class A | 0.44% | 56,127 | $7.8M | Reduce -21.4% |
| MDB Mongodb Inc. | 0.44% | 37,064 | $7.8M | New |
| ALNY Alnylam Pharmaceuticals Inc. | 0.42% | 22,868 | $7.5M | Reduce -8.0% |
| WYNN WYNN Resorts Ltd. | 0.42% | 79,405 | $7.4M | New |
| JEF Jefferies Financial Group Inc. | 0.41% | 133,237 | $7.3M | Add +369.9% |
| BBY Best Buy Co. Inc. | 0.41% | 108,370 | $7.3M | Add +80.3% |
| CNK Cinemark Holdings Inc. | 0.41% | 240,419 | $7.3M | Add +6.9% |
| STT State Street Corp. | 0.40% | 67,856 | $7.2M | Add +62.0% |
| ADPT Adaptive Biotechnologies | 0.40% | 615,744 | $7.2M | Add +63.4% |
| SIMO Silicon Motion Technol-ADR | 0.40% | 94,880 | $7.1M | New |
| TRP TC Energy Corp. | 0.39% | 141,663 | $6.9M | New |
| IOT Samsara Inc. Class A | 0.38% | 172,722 | $6.9M | Add +805.1% |
| BL Blackline Inc. | 0.38% | 120,937 | $6.8M | Reduce -8.5% |
| AM Antero Midstream Corp. | 0.38% | 359,327 | $6.8M | New |
| ORCL Oracle Corp. | 0.38% | 31,053 | $6.8M | New |
| FIVE Five Below | 0.38% | 51,181 | $6.7M | Reduce -38.3% |
| PRMB Primo Brands Corp. | 0.37% | 225,504 | $6.7M | Add +372.4% |
| TLN Talen Energy Corp. | 0.37% | 22,751 | $6.6M | New |
| VSXY Victoria's Secret & Co. | 0.37% | 353,926 | $6.6M | New |
| CRL Charles River Laboratories | 0.36% | 42,944 | $6.5M | Add +2060.2% |
| CVS CVS Health Corp. | 0.35% | 90,656 | $6.3M | Reduce -45.5% |
| MTB M & T Bank Corp. filed as M & T BK CORP | 0.34% | 31,522 | $6.1M | Add +55.4% |
| CPRI Capri Holdings Ltd. | 0.34% | 342,655 | $6.1M | New |
| NEXT Nextdecade Corp. | 0.34% | 679,449 | $6.1M | New |
| TSM Taiwan Semiconductor-SP ADR | 0.33% | 26,435 | $6.0M | New |
| CNNE Cannae Holdings Inc. | 0.33% | 284,590 | $5.9M | Reduce -16.8% |
| KKR KKR & Co. Inc. | 0.33% | 44,291 | $5.9M | Add +5.7% |
Options reported separately and not counted above: QQQ puts ($22.1M), MCD calls ($20.5M), CFLT calls ($11.2M), VSXY calls ($8.8M), SOXX puts ($8.4M), ON puts ($7.9M), ROST calls ($5.7M), XBI calls ($5.0M), ONON puts ($3.6M), HIMS puts ($3.0M), SLV calls ($1.6M), W puts ($1.6M), and 2 more.
Other holdings (4): bonds, preferreds, convertibles and warrants · $1.8M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| CVE.WS Cenovus Energy Inc. -CW26 | *W EXP 01/01/202 | 181,700 | $1.6M | No change |
| LZM.WS Lifezone Metals Ltd. -28 | *W EXP 07/05/202 | 550,000 | $213K | No change |
| FBYDW Falcon's Beyond Global-27 | *W EXP 10/06/202 | 11,747 | $8K | No change |
| SESCW Ivanhoe Capital Class A -CW27 | *W EXP 12/10/202 | 67,024 | $7K | No change |
Total filed on the 13F, all lines: $1.8B.
Portfolio Sells Q1 2025 → Q2 2025
| BECN Beacon Roofing Supply Inc. | Sold out | 0.00% | −2.73 |
| KD Kyndryl Holdings Inc. | Sold out | 0.00% | −1.97 |
| ALGM Allegro Microsystems Inc. | Sold out | 0.00% | −1.89 |
| IEF iShares 7-10 Year Treasury B | Sold out | 0.00% | −1.56 |
| ITCI Intra-Cellular Therapies Inc. | Sold out | 0.00% | −1.47 |
| GTLB Gitlab Inc. Class A | Sold out | 0.00% | −1.43 |
| DT Dynatrace Inc. | Reduce -87.7% | 0.16% | −1.43 |
| KMI Kinder Morgan Inc. | Reduce -41.1% | 1.00% | −1.35 |
| WFC Wells Fargo & Co. | Reduce -72.0% | 0.29% | −1.02 |
| HD Home Depot Inc. | Reduce -31.3% | 0.85% | −0.91 |
| BSX Boston Scientific Corp. | Sold out | 0.00% | −0.83 |
| BBWI Bath & Body Works Inc. | Reduce -81.8% | 0.11% | −0.76 |
| BAC Bank of America Corp. | Reduce -38.1% | 0.73% | −0.75 |
| SHW The Sherwin-Williams Co. | Sold out | 0.00% | −0.74 |
| NEE Nextera Energy Inc. | Reduce -84.1% | 0.09% | −0.73 |
| ALL Allstate Corp. | Sold out | 0.00% | −0.71 |
| TPR Tapestry Inc. | Reduce -30.7% | 1.06% | −0.69 |
| LPLA LPL Financial Holdings Inc. | Reduce -71.7% | 0.19% | −0.66 |
| BLK BlackRock Inc. | Reduce -87.0% | 0.07% | −0.63 |
| BIRK Birkenstock Holding PLC | Sold out | 0.00% | −0.61 |
| CAH Cardinal Health Inc. | Sold out | 0.00% | −0.60 |
| CHKP Check Point Software Tech | Reduce -96.8% | 0.01% | −0.58 |
| ELV Elevance Health Inc. | Sold out | 0.00% | −0.57 |
| CDNS Cadence Design SYS Inc. | Sold out | 0.00% | −0.56 |
| CVS CVS Health Corp. | Reduce -45.5% | 0.35% | −0.55 |
| BNY Bank of New York Mellon Corp. | Sold out | 0.00% | −0.55 |
| VRTX Vertex Pharmaceuticals Inc. | Sold out | 0.00% | −0.54 |
| DKS Dick's Sporting Goods Inc. | Sold out | 0.00% | −0.52 |
| GAP The Gap Inc. | Sold out | 0.00% | −0.52 |
| TRU Transunion | Sold out | 0.00% | −0.51 |
| XOP SS SPDR S&P Og Exp & Prod | Sold out | 0.00% | −0.49 |
| KDP Keurig Dr Pepper Inc. | Reduce -67.1% | 0.14% | −0.49 |
| AMT American Tower Corp. | Sold out | 0.00% | −0.48 |
| DECK Deckers Outdoor Corp. | Sold out | 0.00% | −0.47 |
| SCHW Schwab (charles) Corp. | Sold out | 0.00% | −0.47 |
| ACI Albertsons Cos Inc. Class A | Sold out | 0.00% | −0.46 |
| UNH Unitedhealth Group Inc. | Sold out | 0.00% | −0.44 |
| WAT Waters Corp. | Reduce -89.8% | 0.03% | −0.43 |
| HCA HCA Healthcare Inc. | Sold out | 0.00% | −0.43 |
| LVS Las Vegas Sands Corp. | Sold out | 0.00% | −0.39 |
| CSCO Cisco Systems Inc. | Sold out | 0.00% | −0.39 |
| TXRH Texas Roadhouse Inc. | Sold out | 0.00% | −0.38 |
| DD Dupont DE Nemours Inc. | Sold out | 0.00% | −0.38 |
| META Meta Platforms Inc. Class A | Reduce -53.0% | 0.26% | −0.36 |
| XOM Exxon Mobil Corp. | Sold out | 0.00% | −0.36 |
| AZN Astrazeneca PLC-Spons ADR | Reduce -52.5% | 0.16% | −0.35 |
| DTM DT Midstream Inc. | Sold out | 0.00% | −0.35 |
| ANF Abercrombie & Fitch Co. Class A | Sold out | 0.00% | −0.34 |
| PAGP Plains GP Holdings LP | Sold out | 0.00% | −0.34 |
| BURL Burlington Stores Inc. | Reduce -10.9% | 0.52% | −0.33 |
Portfolio Buys Q1 2025 → Q2 2025
| FLR Fluor Corp. | Add +2429.6% | 2.27% | +2.18 |
| BPMC Blueprint Medicines Corp. | Add +749.5% | 1.90% | +1.68 |
| CFG Citizens Financial Group | New | 1.34% | +1.34 |
| INFA Informatica Inc. Class A | New | 1.28% | +1.28 |
| WMB Williams Cos Inc. | New | 1.25% | +1.25 |
| DUK Duke Energy Corp. | New | 1.18% | +1.18 |
| ULTA Ulta Beauty Inc. | New | 1.05% | +1.05 |
| BE Bloom Energy Corp. Class A | New | 0.96% | +0.96 |
| AR Antero Resources Corp. | New | 0.86% | +0.86 |
| PEG Public Service Enterprise GP | Add +214.9% | 1.44% | +0.80 |
| CFLT Confluent Inc. Class A | New | 0.78% | +0.78 |
| CSX CSX Corp. | New | 0.77% | +0.77 |
| VST Vistra Corp. | Add +13.4% | 3.15% | +0.75 |
| RKT Rocket Cos Inc. Class A | Add +2300.3% | 0.79% | +0.75 |
| HBAN Huntington Bancshares Inc. | New | 0.74% | +0.74 |
| DLTR Dollar Tree Inc. | Add +170.5% | 1.20% | +0.72 |
| AMZN Amazon.com Inc. | New | 0.71% | +0.71 |
| FLEX Flex Ltd. | New | 0.69% | +0.69 |
| LNG Cheniere Energy Inc. | New | 0.67% | +0.67 |
| MD Pediatrix Medical Group Inc. | New | 0.62% | +0.62 |
| BRO Brown & Brown Inc. | New | 0.62% | +0.62 |
| WMT Walmart Inc. | New | 0.62% | +0.62 |
| GMS GMS Inc. | New | 0.61% | +0.61 |
| DDOG Datadog Inc. Class A | New | 0.59% | +0.59 |
| AMD Advanced Micro Devices | Add +1754.2% | 0.62% | +0.59 |
| FCX Freeport-McMoran Inc. | New | 0.57% | +0.57 |
| A Agilent Technologies Inc. | New | 0.55% | +0.55 |
| OKE Oneok Inc. | New | 0.54% | +0.54 |
| WDC Western Digital Corp. | New | 0.53% | +0.53 |
| BLDR Builders Firstsource Inc. | New | 0.52% | +0.52 |
| AGI Alamos Gold Inc. Class A | New | 0.50% | +0.50 |
| ICE Intercontinental Exchange Inc. | New | 0.49% | +0.49 |
| BG Bunge Global SA | New | 0.49% | +0.49 |
| SRE Sempra | Add +126.3% | 1.20% | +0.49 |
| KEY Keycorp | Add +173.2% | 0.92% | +0.48 |
| BBIO Bridgebio Pharma Inc. | New | 0.47% | +0.47 |
| SPTN Spartannash Co. | New | 0.44% | +0.44 |
| CG The Carlyle Group Inc. | New | 0.44% | +0.44 |
| MASI Masimo Corp. | New | 0.44% | +0.44 |
| MCD McDonald's Corp. | New | 0.44% | +0.44 |
| MDB Mongodb Inc. | New | 0.44% | +0.44 |
| NVDA Nvidia Corp. | Add +72.7% | 0.99% | +0.43 |
| PLNT Planet Fitness Inc. Class A | Add +745.9% | 0.50% | +0.43 |
| WYNN WYNN Resorts Ltd. | New | 0.42% | +0.42 |
| SIMO Silicon Motion Technol-ADR | New | 0.40% | +0.40 |
| TRP TC Energy Corp. | New | 0.39% | +0.39 |
| AM Antero Midstream Corp. | New | 0.38% | +0.38 |
| ORCL Oracle Corp. | New | 0.38% | +0.38 |
| TLN Talen Energy Corp. | New | 0.37% | +0.37 |
| VSXY Victoria's Secret & Co. | New | 0.37% | +0.37 |
Options Activity Q1 2025 → Q2 2025
| QQQ Invesco QQQ Trust Series 1 | put | New | 40,000 | $22.1M |
| MCD McDonald's Corp. | call | New | 70,000 | $20.5M |
| IEF iShares 7-10 Year Treasury B | call | Sold out | 200,000 | $19.1Mbefore exit |
| DLTR Dollar Tree Inc. | call | Sold out | 150,000 | $11.3Mbefore exit |
| CFLT Confluent Inc. Class A | call | New | 450,000 | $11.2M |
| VSXY Victoria's Secret & Co. | call | New | 475,000 | $8.8M |
| SOXX iShares Semiconductor ETF | put | New | 35,000 | $8.4M |
| ON On Semiconductor | put | New | 150,000 | $7.9M |
| HUM Humana Inc. | call | Sold out | 24,500 | $6.5Mbefore exit |
| ROST Ross Stores Inc. | call | New | 45,000 | $5.7M |
| XBI SS SPDR S&P Biotech ETF | call | New | 60,000 | $5.0M |
| XLC SS Comm Select Sector SPDR | put | Sold out | 50,000 | $4.8Mbefore exit |
| ONON On Holding AG Class A | put | New | 70,000 | $3.6M |
| HIMS Hims & Hers Health Inc. | put | New | 60,000 | $3.0M |
| CC The Chemours Co. | call | Sold out | 200,000 | $2.7Mbefore exit |
| DKS Dick's Sporting Goods Inc. | put | Sold out | 10,000 | $2.0Mbefore exit |
| ALGM Allegro Microsystems Inc. | call | Sold out | 80,000 | $2.0Mbefore exit |
| W Wayfair Inc. Class A | put | New | 31,500 | $1.6M |
| OSCR Oscar Health Inc. Class A | call | New | 34,000 | $729K |
| PAAS Pan American Silver Corp. | call | Sold out | 25,000 | $646Kbefore exit |
| CSTM Constellium SE | call | Sold out | 50,000 | $505Kbefore exit |
| CWAN Clearwater Analytics HDS-A | call | New | 20,000 | $439K |
| SLNO Soleno Therapeutics Inc. | call | Sold out | 5,000 | $357Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings 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 |