Cinctive Capital Management LP
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Cinctive Capital Management LP reported 371 stock positions worth $2.0 billion. Its top holding was Vistra (VST) at 1.9% of the portfolio, followed by Cyberark Software Ltd./Israel (CYBR, 1.6%) and Ross Stores (ROST, 1.6%). Compared with Q2 2025, it opened 181 new positions, sold out of 146, added to 87 and reduced 102. The biggest buy was Cyberark Software Ltd./Israel (CYBR, shares +12587%) and the biggest sale an exit from Blueprint Medicines (BPMC).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0001787258
- Portfolio Value
- $2.0B (Q3 2025)
- SEC Filing
- 0001172661-25-004851 ↗ filed Nov 14, 2025
Holdings Value
Holdings 371 stocks · $2.0B
| VST Vistra Corp. | 1.92% | 196,459 | $38.5M | Reduce -32.4% |
| CYBR Cyberark Software Ltd./Israel | 1.60% | 66,100 | $31.9M | Add +12587.1% |
| ROST Ross Stores Inc. | 1.57% | 206,510 | $31.5M | Add +149.7% |
| K Kellanova | 1.52% | 371,368 | $30.5M | Reduce -18.1% |
| FYBR Frontier Communications Pare | 1.41% | 756,395 | $28.3M | Add +25.0% |
| KMI Kinder Morgan Inc. | 1.38% | 978,015 | $27.7M | Add +60.8% |
| FLR Fluor Corp. | 1.34% | 637,834 | $26.8M | Reduce -19.6% |
| SRE Sempra | 1.32% | 292,889 | $26.4M | Add +3.5% |
| EXE Expand Energy Corp. | 1.28% | 240,164 | $25.5M | Add +256.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.26% | 489,116 | $25.2M | Add +78.3% |
| VRNA Verona Pharma Ltd. | 1.18% | 221,054 | $23.6M | Add +270.6% |
| HD Home Depot Inc. | 1.14% | 56,244 | $22.8M | Add +35.6% |
| LZM Lifezone Metals Ltd. | 1.14% | 4,149,349 | $22.7M | Add +7.4% |
| YUM Yum! Brands Inc. | 1.08% | 141,561 | $21.5M | New |
| INFA Informatica Inc. Class A | 1.04% | 836,361 | $20.8M | Reduce -10.8% |
| NSC Norfolk Southern Corp. | 0.99% | 66,193 | $19.9M | Add +2105.0% |
| CSX CSX Corp. | 0.97% | 549,040 | $19.5M | Add +29.8% |
| SYY Sysco Corp. | 0.97% | 236,081 | $19.4M | Add +840.3% |
| CHDN Churchill Downs Inc. | 0.95% | 195,845 | $19.0M | Add +34.3% |
| TXRH Texas Roadhouse Inc. | 0.95% | 113,840 | $18.9M | New |
| HUBS HubSpot Inc. | 0.93% | 39,759 | $18.6M | New |
| MPC Marathon Petroleum Corp. | 0.92% | 95,615 | $18.4M | Add +47.7% |
| CEG Constellation Energy | 0.92% | 55,989 | $18.4M | Reduce -53.6% |
| WBI Waterbridge Infrastruc Class A | 0.91% | 723,808 | $18.3M | New |
| C Citigroup Inc. | 0.89% | 175,426 | $17.8M | Add +1078.1% |
| DUK Duke Energy Corp. | 0.83% | 134,763 | $16.7M | Reduce -24.7% |
| DAL Delta Air Lines Inc. | 0.83% | 292,731 | $16.6M | Add +14.5% |
| UAL United Airlines Holdings Inc. | 0.83% | 171,137 | $16.5M | Add +3377.0% |
| BIRK Birkenstock Holding PLC | 0.78% | 342,947 | $15.5M | New |
| PEG Public Service Enterprise GP | 0.76% | 183,031 | $15.3M | Reduce -40.1% |
| NVDA Nvidia Corp. | 0.73% | 78,473 | $14.6M | Reduce -29.7% |
| GFS Globalfoundries Inc. | 0.73% | 405,995 | $14.6M | New |
| BBY Best Buy Co. Inc. | 0.71% | 187,669 | $14.2M | Add +73.2% |
| PSMT Pricesmart Inc. | 0.70% | 115,799 | $14.0M | Add +4.1% |
| ESTC Elastic NV | 0.68% | 161,066 | $13.6M | New |
| MSFT Microsoft Corp. | 0.67% | 25,918 | $13.4M | Add +148.4% |
| FROG Jfrog Ltd. | 0.66% | 278,924 | $13.2M | New |
| CHKP Check Point Software Tech | 0.65% | 62,601 | $13.0M | Add +5896.3% |
| CFG Citizens Financial Group | 0.64% | 239,568 | $12.7M | Reduce -55.2% |
| NIQ Niq Global Intelligence PLC | 0.63% | 804,881 | $12.6M | New |
| STT State Street Corp. | 0.63% | 108,866 | $12.6M | Add +60.4% |
| CBOE Cboe Global Markets Inc. | 0.63% | 51,231 | $12.6M | New |
| COF Capital One Financial Corp. | 0.62% | 58,634 | $12.5M | Reduce -12.6% |
| AON Aon PLC Class A | 0.60% | 33,686 | $12.0M | New |
| UHS Universal Health Services-B | 0.59% | 57,292 | $11.7M | Add +3244.5% |
| PFE Pfizer Inc. | 0.59% | 459,455 | $11.7M | Add +205.4% |
| AR Antero Resources Corp. | 0.57% | 339,316 | $11.4M | Reduce -11.1% |
| IONS Ionis Pharmaceuticals Inc. | 0.57% | 173,819 | $11.4M | New |
| JBS JBS NV-A | 0.57% | 759,284 | $11.3M | Add +102.7% |
| CCL Carnival Corp. | 0.56% | 389,382 | $11.3M | Add +105.4% |
| ENTG Entegris Inc. | 0.55% | 119,932 | $11.1M | New |
| CNP Centerpoint Energy Inc. | 0.53% | 274,524 | $10.7M | Add +149.0% |
| VLO Valero Energy Corp. | 0.51% | 60,363 | $10.3M | Reduce -56.2% |
| MU Micron Technology Inc. | 0.51% | 61,108 | $10.2M | Add +2079.3% |
| IBKR Interactive Brokers Gro Class A | 0.51% | 147,894 | $10.2M | Add +2350.2% |
| HBAN Huntington Bancshares Inc. | 0.49% | 572,552 | $9.9M | Reduce -27.1% |
| GOOG Alphabet Inc. Class C | 0.49% | 40,445 | $9.9M | Add +178.1% |
| WNS WNS Holdings Ltd. filed as WNS HLDGS LTD | 0.48% | 125,000 | $9.5M | New |
| INSM Insmed Inc. | 0.48% | 66,181 | $9.5M | Add +101.3% |
| AZN Astrazeneca PLC-Spons ADR | 0.47% | 122,521 | $9.4M | Add +191.9% |
| A Agilent Technologies Inc. | 0.47% | 72,856 | $9.4M | Reduce -12.3% |
| LVS Las Vegas Sands Corp. | 0.47% | 173,551 | $9.3M | New |
| BIIB Biogen Inc. | 0.46% | 65,837 | $9.2M | Add +344.8% |
| ABBV Abbvie Inc. | 0.46% | 39,816 | $9.2M | Add +33.3% |
| NEE Nextera Energy Inc. | 0.46% | 121,541 | $9.2M | Add +423.9% |
| FHN First Horizon Corp. | 0.46% | 402,943 | $9.1M | Reduce -33.6% |
| ARGX Argenx SE - ADR | 0.45% | 12,300 | $9.1M | Add +435.3% |
| LPLA LPL Financial Holdings Inc. | 0.45% | 27,180 | $9.0M | Add +195.0% |
| AMZN Amazon.com Inc. | 0.45% | 41,005 | $9.0M | Reduce -28.7% |
| GAP The Gap Inc. | 0.45% | 418,523 | $9.0M | New |
| SNAP Snap Inc. Class A | 0.44% | 1,150,920 | $8.9M | New |
| CNC Centene Corp. | 0.44% | 246,151 | $8.8M | Add +4732.2% |
| MANH Manhattan Associates Inc. | 0.43% | 41,984 | $8.6M | New |
| EHC Encompass Health Corp. | 0.42% | 66,898 | $8.5M | Add +48.6% |
| ORLY O'reilly Automotive Inc. | 0.42% | 78,454 | $8.5M | Reduce -41.1% |
| WMT Walmart Inc. | 0.42% | 81,864 | $8.4M | Reduce -27.6% |
| EVR Evercore Inc. Class A | 0.41% | 24,607 | $8.3M | Reduce -19.6% |
| INTC Intel Corp. | 0.41% | 245,737 | $8.2M | Reduce -56.5% |
| BL Blackline Inc. | 0.41% | 152,856 | $8.1M | Add +26.4% |
| ULTA Ulta Beauty Inc. | 0.41% | 14,827 | $8.1M | Reduce -63.2% |
| B Barrick Mining Corp. | 0.40% | 244,859 | $8.0M | New |
| NCNO Ncino Inc. | 0.40% | 292,899 | $7.9M | Add +2273.4% |
| KVYO Klaviyo Inc. Class A | 0.40% | 285,473 | $7.9M | New |
| CAH Cardinal Health Inc. | 0.39% | 50,279 | $7.9M | New |
| TNET Trinet Group Inc. | 0.39% | 116,214 | $7.8M | Add +408.4% |
| XLK SS Technology Select Sector | 0.38% | 26,897 | $7.6M | New |
| GH Guardant Health Inc. | 0.38% | 121,130 | $7.6M | New |
| XLC SS Comm Select Sector SPDR | 0.38% | 63,467 | $7.5M | New |
| SFD Smithfield Foods Inc. | 0.37% | 318,975 | $7.5M | Add +116.4% |
| MRK Merck & Co. Inc. | 0.37% | 88,482 | $7.4M | Add +88.2% |
| SIMO Silicon Motion Technol-ADR | 0.37% | 77,968 | $7.4M | Reduce -17.8% |
| SPOT Spotify Technology SA | 0.35% | 9,919 | $6.9M | New |
| FIVE Five Below | 0.34% | 44,383 | $6.9M | Reduce -13.3% |
| NDAQ Nasdaq Inc. | 0.34% | 77,579 | $6.9M | Add +1939.4% |
| CVX Chevron Corp. | 0.34% | 43,768 | $6.8M | New |
| COHR Coherent Corp. | 0.34% | 63,034 | $6.8M | New |
| ONON On Holding AG Class A filed as ON HLDG AG | 0.34% | 159,941 | $6.8M | Add +51.7% |
| MNST Monster Beverage Corp. | 0.34% | 99,680 | $6.7M | New |
| PODD Insulet Corp. | 0.33% | 21,660 | $6.7M | New |
| WTTR Select Water Solutions Inc. | 0.33% | 623,285 | $6.7M | Add +55.6% |
Options reported separately and not counted above: CVS puts ($11.8M), CI puts ($9.8M), SLV calls ($8.5M), S calls ($8.3M), CFLT calls ($7.9M), QRVO calls ($7.3M), VST calls ($4.9M), FLR calls ($4.4M), PTON calls ($3.6M), NKE puts ($3.5M), LUV puts ($3.2M), ONON calls ($3.2M), and 6 more.
Other holdings (4): bonds, preferreds, convertibles and warrants · $2.6M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| CVE.WS Cenovus Energy Inc. -CW26 | *W EXP 01/01/202 | 181,700 | $2.2M | No change |
| LZM.WS Lifezone Metals Ltd. -28 | *W EXP 07/05/202 | 550,000 | $347K | No change |
| FBYDW Falcon's Beyond Global-27 | *W EXP 10/06/202 | 11,747 | $17K | No change |
| SESCW Ivanhoe Capital Class A -CW27 | *W EXP 12/10/202 | 67,024 | $12K | No change |
Total filed on the 13F, all lines: $2.0B.
Portfolio Sells Q2 2025 → Q3 2025
| BPMC Blueprint Medicines Corp. | Sold out | 0.00% | −1.90 |
| CEG Constellation Energy | Reduce -53.6% | 0.92% | −1.26 |
| WMB Williams Cos Inc. | Sold out | 0.00% | −1.25 |
| VST Vistra Corp. | Reduce -32.4% | 1.92% | −1.22 |
| DLTR Dollar Tree Inc. | Sold out | 0.00% | −1.20 |
| FLR Fluor Corp. | Reduce -19.6% | 1.34% | −0.93 |
| KEY Keycorp | Sold out | 0.00% | −0.92 |
| MS Morgan Stanley | Reduce -98.8% | 0.01% | −0.86 |
| TPR Tapestry Inc. | Reduce -78.0% | 0.27% | −0.79 |
| RKT Rocket Cos Inc. Class A | Sold out | 0.00% | −0.79 |
| CFG Citizens Financial Group | Reduce -55.2% | 0.64% | −0.70 |
| JPM JPMorgan Chase & Co. | Sold out | 0.00% | −0.69 |
| FLEX Flex Ltd. | Sold out | 0.00% | −0.69 |
| PEG Public Service Enterprise GP | Reduce -40.1% | 0.76% | −0.67 |
| LNG Cheniere Energy Inc. | Sold out | 0.00% | −0.67 |
| BE Bloom Energy Corp. Class A | Reduce -90.2% | 0.30% | −0.66 |
| CFLT Confluent Inc. Class A | Reduce -78.1% | 0.12% | −0.66 |
| ULTA Ulta Beauty Inc. | Reduce -63.2% | 0.41% | −0.65 |
| AMD Advanced Micro Devices | Sold out | 0.00% | −0.62 |
| BRO Brown & Brown Inc. | Sold out | 0.00% | −0.62 |
| GMS GMS Inc. | Sold out | 0.00% | −0.61 |
| DDOG Datadog Inc. Class A | Sold out | 0.00% | −0.59 |
| OKE Oneok Inc. | Sold out | 0.00% | −0.54 |
| ISRG Intuitive Surgical Inc. | Reduce -92.7% | 0.03% | −0.53 |
| VLO Valero Energy Corp. | Reduce -56.2% | 0.51% | −0.52 |
| MXL Maxlinear Inc. | Sold out | 0.00% | −0.51 |
| FCX Freeport-McMoran Inc. | Reduce -86.3% | 0.06% | −0.50 |
| AGI Alamos Gold Inc. Class A | Sold out | 0.00% | −0.50 |
| K Kellanova | Reduce -18.1% | 1.52% | −0.49 |
| ICE Intercontinental Exchange Inc. | Sold out | 0.00% | −0.49 |
| BG Bunge Global SA | Sold out | 0.00% | −0.49 |
| MD Pediatrix Medical Group Inc. | Reduce -79.0% | 0.14% | −0.49 |
| TXN Texas Instruments Inc. | Sold out | 0.00% | −0.45 |
| SPTN Spartannash Co. | Sold out | 0.00% | −0.44 |
| BLDR Builders Firstsource Inc. | Reduce -83.9% | 0.08% | −0.44 |
| MASI Masimo Corp. | Sold out | 0.00% | −0.44 |
| LRCX Lam Research Corp. | Sold out | 0.00% | −0.44 |
| MDB Mongodb Inc. | Sold out | 0.00% | −0.44 |
| BHF Brighthouse Financial Inc. | Reduce -65.9% | 0.18% | −0.42 |
| ALNY Alnylam Pharmaceuticals Inc. | Sold out | 0.00% | −0.42 |
| PRVA Privia Health Group Inc. | Reduce -92.5% | 0.03% | −0.41 |
| WYNN WYNN Resorts Ltd. | Reduce -98.0% | 0.01% | −0.41 |
| CNK Cinemark Holdings Inc. | Sold out | 0.00% | −0.41 |
| MCD McDonald's Corp. | Reduce -91.0% | 0.04% | −0.40 |
| EW Edwards Lifesciences Corp. | Reduce -50.1% | 0.30% | −0.38 |
| ORCL Oracle Corp. | Sold out | 0.00% | −0.38 |
| H Hyatt Hotels Corp. Class A | Reduce -81.8% | 0.07% | −0.37 |
| CRL Charles River Laboratories | Sold out | 0.00% | −0.36 |
| BURL Burlington Stores Inc. | Reduce -68.5% | 0.16% | −0.36 |
| CVS CVS Health Corp. | Sold out | 0.00% | −0.35 |
Portfolio Buys Q2 2025 → Q3 2025
| CYBR Cyberark Software Ltd./Israel | Add +12587.1% | 1.60% | +1.58 |
| YUM Yum! Brands Inc. | New | 1.08% | +1.08 |
| ROST Ross Stores Inc. | Add +149.7% | 1.57% | +0.98 |
| NSC Norfolk Southern Corp. | Add +2105.0% | 0.99% | +0.95 |
| TXRH Texas Roadhouse Inc. | New | 0.95% | +0.95 |
| HUBS HubSpot Inc. | New | 0.93% | +0.93 |
| WBI Waterbridge Infrastruc Class A | New | 0.91% | +0.91 |
| SYY Sysco Corp. | Add +840.3% | 0.97% | +0.87 |
| VRNA Verona Pharma Ltd. | Add +270.6% | 1.18% | +0.86 |
| EXE Expand Energy Corp. | Add +256.2% | 1.28% | +0.83 |
| C Citigroup Inc. | Add +1078.1% | 0.89% | +0.82 |
| UAL United Airlines Holdings Inc. | Add +3377.0% | 0.83% | +0.80 |
| BIRK Birkenstock Holding PLC | New | 0.78% | +0.78 |
| GFS Globalfoundries Inc. | New | 0.73% | +0.73 |
| ESTC Elastic NV | New | 0.68% | +0.68 |
| FROG Jfrog Ltd. | New | 0.66% | +0.66 |
| CHKP Check Point Software Tech | Add +5896.3% | 0.65% | +0.63 |
| NIQ Niq Global Intelligence PLC | New | 0.63% | +0.63 |
| CBOE Cboe Global Markets Inc. | New | 0.63% | +0.63 |
| AON Aon PLC Class A | New | 0.60% | +0.60 |
| IONS Ionis Pharmaceuticals Inc. | New | 0.57% | +0.57 |
| UHS Universal Health Services-B | Add +3244.5% | 0.59% | +0.57 |
| ENTG Entegris Inc. | New | 0.55% | +0.55 |
| BAC Bank of America Corp. | Add +78.3% | 1.26% | +0.54 |
| MU Micron Technology Inc. | Add +2079.3% | 0.51% | +0.49 |
| IBKR Interactive Brokers Gro Class A | Add +2350.2% | 0.51% | +0.49 |
| WNS WNS Holdings Ltd. | New | 0.48% | +0.48 |
| LVS Las Vegas Sands Corp. | New | 0.47% | +0.47 |
| GAP The Gap Inc. | New | 0.45% | +0.45 |
| SNAP Snap Inc. Class A | New | 0.44% | +0.44 |
| MANH Manhattan Associates Inc. | New | 0.43% | +0.43 |
| CNC Centene Corp. | Add +4732.2% | 0.44% | +0.42 |
| B Barrick Mining Corp. | New | 0.40% | +0.40 |
| KVYO Klaviyo Inc. Class A | New | 0.40% | +0.40 |
| CAH Cardinal Health Inc. | New | 0.39% | +0.39 |
| KMI Kinder Morgan Inc. | Add +60.8% | 1.38% | +0.38 |
| ARGX Argenx SE - ADR | Add +435.3% | 0.45% | +0.38 |
| PFE Pfizer Inc. | Add +205.4% | 0.59% | +0.38 |
| MSFT Microsoft Corp. | Add +148.4% | 0.67% | +0.38 |
| XLK SS Technology Select Sector | New | 0.38% | +0.38 |
| GH Guardant Health Inc. | New | 0.38% | +0.38 |
| NCNO Ncino Inc. | Add +2273.4% | 0.40% | +0.38 |
| XLC SS Comm Select Sector SPDR | New | 0.38% | +0.38 |
| NEE Nextera Energy Inc. | Add +423.9% | 0.46% | +0.37 |
| BIIB Biogen Inc. | Add +344.8% | 0.46% | +0.36 |
| GOOG Alphabet Inc. Class C | Add +178.1% | 0.49% | +0.35 |
| SPOT Spotify Technology SA | New | 0.35% | +0.35 |
| CVX Chevron Corp. | New | 0.34% | +0.34 |
| COHR Coherent Corp. | New | 0.34% | +0.34 |
| MNST Monster Beverage Corp. | New | 0.34% | +0.34 |
Options Activity Q2 2025 → Q3 2025
| QQQ Invesco QQQ Trust Series 1 | put | Sold out | 40,000 | $22.1Mbefore exit |
| MCD McDonald's Corp. | call | Sold out | 70,000 | $20.5Mbefore exit |
| CVS CVS Health Corp. | put | New | 156,000 | $11.8M |
| CI The Cigna Group | put | New | 34,000 | $9.8M |
| VSXY Victoria's Secret & Co. | call | Sold out | 475,000 | $8.8Mbefore exit |
| SLV iShares Silver Trust | call | Add +300.0% | 200,000 | $8.5M |
| SOXX iShares Semiconductor ETF | put | Sold out | 35,000 | $8.4Mbefore exit |
| S Sentinelone Inc. Class A | call | New | 471,700 | $8.3M |
| CFLT Confluent Inc. Class A | call | Reduce -11.1% | 400,000 | $7.9M |
| ON On Semiconductor | put | Sold out | 150,000 | $7.9Mbefore exit |
| QRVO Qorvo Inc. | call | New | 80,000 | $7.3M |
| ROST Ross Stores Inc. | call | Sold out | 45,000 | $5.7Mbefore exit |
| XBI SS SPDR S&P Biotech ETF | call | Sold out | 60,000 | $5.0Mbefore exit |
| VST Vistra Corp. | call | New | 25,000 | $4.9M |
| FLR Fluor Corp. | call | New | 103,600 | $4.4M |
| ONON On Holding AG Class A | put | Sold out | 70,000 | $3.6Mbefore exit |
| PTON Peloton Interactive Inc. Class A | call | New | 400,000 | $3.6M |
| NKE Nike Inc. Class B | put | New | 50,000 | $3.5M |
| LUV Southwest Airlines Co. | put | New | 100,000 | $3.2M |
| ONON On Holding AG Class A | call | New | 75,000 | $3.2M |
| HIMS Hims & Hers Health Inc. | put | Sold out | 60,000 | $3.0Mbefore exit |
| FUN Six Flags Entertainment Corp. | call | New | 125,000 | $2.8M |
| HUM Humana Inc. | call | New | 9,800 | $2.5M |
| TGT Target Corp. | call | New | 25,000 | $2.2M |
| SEE Sealed Air Corp. | call | New | 50,000 | $1.8M |
| W Wayfair Inc. Class A | put | Sold out | 31,500 | $1.6Mbefore exit |
| WBD Warner Bros Discovery Inc. | call | New | 75,000 | $1.5M |
| PFE Pfizer Inc. | call | New | 50,000 | $1.3M |
| OSCR Oscar Health Inc. Class A | call | Sold out | 34,000 | $729Kbefore exit |
| CWAN Clearwater Analytics HDS-A | call | Sold out | 20,000 | $439Kbefore 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 |