III Capital Management

BOCA RATON, FL · CIK 1783139 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 2001 · partnership

Assets managed$88.2bn
Staff9 · 9 in investment roles
Main clients (by assets)Private funds 71%, Sovereign wealth funds 27%
Private funds8 (7 hedge) · $47.6bn gross assets
Websiteiiicm.com
Form ADV · 2026-05-07SEC adviser record

Legal entityIII Capital Management (US)

Kindhedge funds, real estate, futures
Others nearbyBoca Raton, FL, Miami, FL

As an employer

Offices in1 country
Private fundshedge 7, real estate 1

Where they work

people there (dot area)number not reportedmain officeHover or tap a dot. Australian and UK companies are placed at their business or registered address, with their staff across the whole country.

Offices

From Form ADV: the main office and the other offices where it does advisory work (at most the 25 largest), with the people doing investment work at each. “About” is worked out: the firm's investment staff less its other offices. Each city links to the other managers there.

City	Country	People
Boca Raton, FL (main office)United States	United States	about 8
Miami, FLUnited States	United States	1

Map: places from GeoNames (CC BY 4.0), outlines from Natural Earth.

$391.1m reported value +58.3% vs Q1 2026

48positions

81.0%in top 10

20 new 16 added 10 reduced 18 sold out vs Q1 2026

Options: 1 call positions ($2.9m notional), 0 put positions (— notional) – listed below, not included above.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	333,951	$249.4m63.77%	63.77%	Added +110.1k	+110,076 49.2%
2	ISHARES TR IBOXX HI YD ETF HYG	HYG	308,000	$24.6m6.30%	6.30%	New
3	ISHARES TR CORE S&P MCP ETF IJH	IJH	125,000	$9.6m2.46%	2.46%	New
4	INVESCO EXCHANGE TRADED FD T S&P500 EQL WGT RSP	RSP	40,000	$8.5m2.18%	2.18%	New
5	CRH PLC ORD CRH	CRH	42,444	$4.5m1.16%	1.16%	Added +6.0k	+5,956 16.3%
6	GENUINE PARTS CO COM GPC	GPC	38,000	$4.5m1.15%	1.15%	New
7	VERSIGENT PLC ORDINARY SHARES VGNT	VGNT	102,199	$4.3m1.10%	1.10%	New
8	HYATT HOTELS CORP COM CL A H	H	20,433	$4.0m1.01%	1.01%	Reduced -6.0k	-5,953 -22.6%
9	T-MOBILE US INC COM TMUS	TMUS	22,584	$3.8m0.97%	0.97%	Added +7.5k	+7,496 49.7%
10	HERC HLDGS INC COM HRI	HRI	24,742	$3.5m0.91%	0.91%	Added +4.4k	+4,382 21.5%
11	COMMSCOPE HLDG CO INC COM VISN	VISN	271,443	$3.5m0.89%	0.89%	Reduced -67.4k	-67,382 -19.9%
12	BURLINGTON STORES INC COM BURL	BURL	10,930	$3.5m0.89%	0.89%	Added +3.4k	+3,430 45.7%
13	WYNN RESORTS LTD COM WYNN	WYNN	33,405	$3.2m0.83%	0.83%	Added +5.4k	+5,353 19.1%
14	ECHOSTAR CORP CL A ECHO	ECHO	31,637	$3.2m0.82%	0.82%	Added +21.0k	+20,955 196.2%
15	WESTERN DIGITAL CORP COM WDC	WDC	5,000	$3.2m0.82%	0.82%	Reduced -3.0k	-2,979 -37.3%
16	PROGRESS SOFTWARE CORP NOTE 3.500% 3/0 · principal PRGS 3.5 03.01.30 · principal	PRGS 3.5 03.01.30	3,200,000	$3.1m0.79%	0.79%	Unchanged
17	BOOT BARN HLDGS INC COM BOOT	BOOT	18,000	$3.0m0.76%	0.76%	New
18	IAC INC COM NEW PPLI	PPLI	63,000	$2.9m0.74%	0.74%	Added +14.0k	+14,024 28.6%
19	UBER TECHNOLOGIES INC COM UBER	UBER	40,099	$2.9m0.74%	0.74%	Added +8.9k	+8,945 28.7%
20	RENTOKIL INITIAL PLC SPONSORED ADR RTO	RTO	100,684	$2.9m0.74%	0.74%	Added +3.5k	+3,525 3.6%
21	NEXSTAR MEDIA GROUP INC COMMON STOCK NXST	NXST	15,500	$2.8m0.71%	0.71%	New
22	URBAN OUTFITTERS INC COM URBN	URBN	38,294	$2.7m0.69%	0.69%	Reduced -16.5k	-16,543 -30.2%
23	MOHAWK INDS INC COM MHK	MHK	20,897	$2.5m0.65%	0.65%	Reduced -5.1k	-5,052 -19.5%
24	CARNIVAL CORP LTD COMMON SHARES CCL	CCL	86,820	$2.5m0.63%	0.63%	New
25	NEXTERA ENERGY INC UNIT 02/15/2029 NEE 7.375 02.15.29	NEE 7.375 02.15.29	50,000	$2.4m0.61%	0.61%	Unchanged
26	META PLATFORMS INC CL A META	META	4,000	$2.3m0.58%	0.58%	Added +7	+7 0.2%
27	BOYD GAMING CORP COM BYD	BYD	25,000	$2.2m0.56%	0.56%	Added +5.6k	+5,558 28.6%
28	WARNER MUSIC GROUP CORP COM CL A WMG	WMG	79,000	$2.1m0.55%	0.55%	New
29	SPDR GOLD TR GOLD SHS GLD	GLD	5,566	$2.1m0.52%	0.52%	Added +4.5k	+4,500 422.1%
30	BOOKING HOLDINGS INC COM BKNG	BKNG	11,450	$2.0m0.52%	0.52%	Reduced -6.6k	-6,600 -36.6%
31	MATTEL INC COM MAT	MAT	132,109	$1.8m0.47%	0.47%	Reduced -12.4k	-12,410 -8.6%
32	FOX CORP CL A COM FOXA	FOXA	32,587	$1.7m0.43%	0.43%	New
33	DRIVEN BRANDS HLDGS INC COM DRVN	DRVN	109,020	$1.5m0.39%	0.39%	Added +34.3k	+34,255 45.8%
34	MICRON TECHNOLOGY INC COM MU	MU	1,300	$1.5m0.38%	0.38%	New
35	AKAMAI TECHNOLOGIES INC NOTE 0.250% 5/1 · principal AKAM 0.25 05.15.33 · principal	AKAM 0.25 05.15.33	1,000,000	$1.5m0.37%	0.37%	New
36	ADVANCED MICRO DEVICES INC COM AMD	AMD	2,200	$1.3m0.33%	0.33%	New
37	SOUTHERN CO NOTE 3.250% 6/1 · principal SO 3.25 06.15.28 · principal	SO 3.25 06.15.28	1,089,000	$1.1m0.28%	0.28%	New
38	VERSANT MEDIA GROUP INC COM CL A VSNT	VSNT	30,000	$1.1m0.28%	0.28%	Added +144	+144 0.5%
39	SANDISK CORP COM SNDK	SNDK	475	$1.1m0.28%	0.28%	New
40	MIDDLEBY CORP COM MIDD	MIDD	6,000	$1.0m0.26%	0.26%	New
41	WYNDHAM HOTELS & RESORTS INC COM WH	WH	12,145	$1.0m0.26%	0.26%	Added +271	+271 2.3%
42	DROPBOX INC NOTE 3/0 · principal DBX 0 03.01.28 · principal	DBX 0 03.01.28	1,000,000	$1.0m0.26%	0.26%	New
43	CHARTER COMMUNICATIONS INC N CL A CHTR	CHTR	6,748	$959.6k0.25%	0.25%	Reduced -5.3k	-5,297 -44.0%
44	ISHARES TR EXPANDED TECH IGV	IGV	10,000	$906.0k0.23%	0.23%	New
45	PENN ENTERTAINMENT INC COM PENN	PENN	25,330	$541.0k0.14%	0.14%	Reduced -75.7k	-75,716 -74.9%
46	EXPEDIA GROUP INC COM NEW EXPE	EXPE	2,000	$511.8k0.13%	0.13%	New
47	RALPH LAUREN CORP CL A RL	RL	1,127	$452.4k0.12%	0.12%	Reduced -5.3k	-5,279 -82.4%
48	INTEL CORP COM INTC	INTC	2,900	$404.9k0.10%	0.10%	New

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
ISHARES TR EMB	EMB	105,000	$9.9m105.0k shares
ISHARES TR EEM	EEM	95,000	$5.4m95.0k shares
RED ROCK RESORTS INC RRR	RRR	43,442	$2.3m43.4k shares
FLUTTER ENTMT PLC FLUT	FLUT	21,597	$2.2m21.6k shares
ETSY INC ETSY	ETSY	40,000	$2.0m40.0k shares
CARNIVAL CORP		72,904	$1.9m72.9k shares
KIMBERLY-CLARK CORP KMB	KMB	19,316	$1.9m19.3k shares
PITNEY BOWES INC PBI	PBI	154,442	$1.7m154.4k shares
DOLLAR TREE INC DLTR	DLTR	15,102	$1.7m15.1k shares
UNITED PARKS & RESORTS INC PRKS	PRKS	45,000	$1.5m45.0k shares
ALBERTSONS COS INC ACI	ACI	79,085	$1.3m79.1k shares
CAESARS ENTERTAINMENT INC NE CZR	CZR	49,210	$1.3m49.2k shares
LIFE TIME GROUP HOLDINGS INC LTH	LTH	36,000	$969.8k36.0k shares
SELECT SECTOR SPDR TR XLV	XLV	6,000	$879.7k6.0k shares
NORWEGIAN CRUISE LINE HLDG L NCLH	NCLH	41,549	$777.0k41.5k shares
TAKE-TWO INTERACTIVE SOFTWAR TTWO	TTWO	1,743	$344.2k1.7k shares
AVIS BUDGET GROUP CAR	CAR	1,873	$273.2k1.9k shares
SELECT SECTOR SPDR TR XLU	XLU	380	$17.4k380 shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
WYNN RESORTS LTD WYNN · Call	WYNN	Call	30,000	$2.9m30.0k shares	New