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Caxton Associates LLP

The positions Caxton Associates LLP reported on its Form 13F for Q2 2026, the quarter ending 30 Jun 2026, filed on 14 Aug 2026. Every figure below is the filing’s own: US-listed long equity, valued at the quarter end, with the change measured against the same manager’s previous filing.

Reported book
$5.3bn
+$915m on Q1 2026
Positions
730
38+ new, 272 sold out
Top ten weight
56%
Concentrated
Quarter
Q2 2026
Filed 14 Aug 2026
Read the Q2 2026 filing on sec.gov CIK 0002051323 · Macro

Reported by Caxton Associates LLP from Q1 2025. Earlier quarters were reported by Caxton Associates LP.

Reported book is the quarter-end market value of the securities on the 13F, mostly US-listed long equity. It is not the manager’s assets under management: shorts, cash, leverage and most non-US or private holdings sit outside it.

Reported book by quarter
$0$2.7bn$5.3bnQ3 24: $2.7bn$2.7bnQ3 24Q4 24: $3.2bn$3.2bnQ4 24Q1 25: $2.9bn$2.9bnQ1 25Q2 25: $3.9bn$3.9bnQ2 25Q3 25: $4.2bn$4.2bnQ3 25Q4 25: $5.1bn$5.1bnQ4 25Q1 26: $4.4bn$4.4bnQ1 26Q2 26: $5.3bn$5.3bnQ2 26
Every quarter since Q2 2013: what Caxton Associates LLP bought, cut and sold →
Largest positions, share of the book
WBD · Warner Bros Discovery Inc: 9.7%WBD · Warner Bros Disco…9.7%AAPL · Apple Inc: 7.3%AAPL · Apple Inc7.3%MSFT · Microsoft Corp: 7.1%MSFT · Microsoft Corp7.1%NSC · Norfolk Southn Corp: 6.2%NSC · Norfolk Southn Co…6.2%AMZN · Amazon Com Inc: 6.0%AMZN · Amazon Com Inc6.0%AMD · Advanced Micro Devices Inc: 5.0%AMD · Advanced Micro De…5.0%XLE · Select Sector SPDR Energy ETF: 4.4%XLE · Select Sector SPD…4.4%BP · Bp plc: 4.0%BP · Bp plc4.0%NVDA · Nvidia Corporation: 3.8%NVDA · Nvidia Corporati…3.8%GOOGL · Alphabet Inc: 2.5%GOOGL · Alphabet Inc2.5%

Opened this quarter

A new position is the clearest thing a filing says. Somebody argued for it recently, and it is the easiest question to be ready for.

  • Select Sector SPDR Energy ETF (XLE)$235m · 4.4%
  • Bp plc (BP)Sponsored ADR$216m · 4.0%
  • SanDisk Corp (SNDK)$87m · 1.6%
  • Ciena Corp (CIEN)$58m · 1.1%
  • Marathon Pete Corp (MPC)$13m · 0.2%
  • Globalstar Inc (GSAT)$11m · 0.2%
  • Targa Res Corp (TRGP)$9.8m · 0.2%
  • Kinetik Holdings Inc (KNTK)Common New Class A$9.3m · 0.2%
  • Antero Midstream Corp (AM)$9.0m · 0.2%
  • Progyny Inc (PGNY)$8.5m · 0.2%
  • Newell Brands Inc (NWL)$7.5m · 0.1%
  • Tractor Supply Co (TSCO)$7.2m · 0.1%
  • and 26 more, in the table below.

Sold out of this quarter

Exits are valued at what the position was worth in the previous filing, because by this one it is gone.

  • Meta Platforms Inc (META)$201m held before
  • Boeing Co (BA)$122m held before
  • iShares Trust (EEM)$57m held before
  • RTX Corporation (RTX)$52m held before
  • iShares Trust (IWM)$51m held before
  • Clearwater Analytics HLDGS I (CWAN)$42m held before
  • Chart Inds Inc (GTLS)$40m held before
  • Hologic Inc (HOLX)$39m held before
  • Coterra Energy Inc (CTRA)$36m held before
  • Vertex Pharmaceuticals Inc (VRTX)$16m held before
  • Unifirst Corp Mass (UNF)$15m held before
  • Qorvo Inc (QRVO)$14m held before
  • and 260 more.

Largest reported positions, Q2 2026

200 positions, sorted by weight · page 1 of 2

Showing the largest 200 reported positions, representing 90.4% of reported market value.

PositionWeight ↓ValueSharesChange on the quarterAction
Warner Bros Discovery Inc (WBD)
Common Series A · CUSIP 934423104
9.7%$518m19,423,068
+$68m
+3,032,306 shares
Added
Apple Inc (AAPL)
CUSIP 037833100
7.3%$389m1,343,920
+$258m
+826,322 shares
Added
Microsoft Corp (MSFT)
CUSIP 594918104
7.1%$377m1,010,774
-$102m
-283,766 shares
Trimmed
Norfolk Southn Corp (NSC)
CUSIP 655844108
6.2%$328m1,043,375
+$231m
+705,249 shares
Added
Amazon Com Inc (AMZN)
CUSIP 023135106
6.0%$321m1,348,189
+$119m
+376,988 shares
Added
Advanced Micro Devices Inc (AMD)
CUSIP 007903107
5.0%$267m458,936
+$14m
-784,764 shares
Trimmed
Select Sector SPDR Energy ETF (XLE)
CUSIP 81369Y506
4.4%$235m4,432,763No earlier filingNew
Bp plc (BP)
Sponsored ADR · CUSIP 055622104
4.0%$216m5,840,899No earlier filingNew
Nvidia Corporation (NVDA)
CUSIP 67066G104
3.8%$204m1,020,842
-$245m
-1,552,630 shares
Trimmed
Alphabet Inc (GOOGL)
Capital Stock Class A · CUSIP 02079K305
2.5%$134m375,359
+$131m
+363,623 shares
Added
Bank of Amer Corp (BAC)
CUSIP 060505104
2.2%$115m2,020,979
+$114m
+1,995,267 shares
Added
MP Materials Corp (MP)
Common Class A · CUSIP 553368101
2.1%$112m1,991,899
+$111m
+1,985,808 shares
Added
Lam Research Corp (LRCX)
CUSIP 512807306
1.9%$103m236,500
+$101m
+227,159 shares
Added
SanDisk Corp (SNDK)
CUSIP 80004C200
1.6%$87m38,288No earlier filingNew
Teck Resources LTD (TECK)
Class B · CUSIP 878742204
1.5%$80m1,339,431
-$1.3m
-225,325 shares
Trimmed
Kenvue Inc (KVUE)
CUSIP 49177J102
1.1%$60m3,143,101
+$2.4m
-200,000 shares
Trimmed
Ciena Corp (CIEN)
CUSIP 171779309
1.1%$58m117,924No earlier filingNew
Penumbra Inc (PEN)
CUSIP 70975L107
1.1%$57m179,384
-$4.0m
-5,279 shares
Trimmed
Webster Finl Corp (WBS)
CUSIP 947890109
1.0%$53m687,006
+$5.2m
+6,331 shares
Added
Topbuild Cor (BLD)
CUSIP 89055F103
0.9%$49m137,737
+$48m
+134,274 shares
Added
Electronic Arts Inc (EA)
CUSIP 285512109
0.9%$47m229,020
-$19m
-93,327 shares
Trimmed
Texas Instrs Inc (TXN)
CUSIP 882508104
0.7%$36m121,345
+$36m
+118,595 shares
Added
Uranium Energy Corp (UEC)
CUSIP 916896103
0.7%$35m3,311,890
-$10m
-63,289 shares
Trimmed
On Semiconductor Corp (ON)
CUSIP 682189105
0.6%$31m325,000
+$30m
+317,000 shares
Added
Cameco Corp (CCJ)
CUSIP 13321L108
0.5%$27m262,500
-$1.8m
0 shares
Held
Chipotle Mexican Grill Inc (CMG)
CUSIP 169656105
0.5%$24m709,152
-$7.3m
-272,388 shares
Trimmed
Northwestern Energy Group In (NWE)
CUSIP 668074305
0.4%$22m312,172
-$21m
-345,090 shares
Trimmed
TXNM Energy Inc (TXNM)
CUSIP 69349H107
0.4%$21m372,254
-$20m
-323,381 shares
Trimmed
Micron Technology Inc (MU)
CUSIP 595112103
0.3%$17m14,481
+$12m
-226 shares
Trimmed
Cme Group Inc (CME)
CUSIP 12572Q105
0.3%$16m71,099
-$2.0m
+11,099 shares
Added
HF Sinclair Corp (DINO)
CUSIP 403949100
0.3%$15m215,815
+$10m
+139,349 shares
Added
Liberty Broadband Corp (LBRDK)
Common Series C · CUSIP 530307305
0.3%$15m447,192
-$7.6m
0 shares
Held
Marathon Pete Corp (MPC)
CUSIP 56585A102
0.2%$13m50,141No earlier filingNew
Take-two Interactive Softwar (TTWO)
CUSIP 874054109
0.2%$12m47,641
+$11m
+40,430 shares
Added
Globalstar Inc (GSAT)
CUSIP 378973507
0.2%$11m132,783No earlier filingNew
Targa Res Corp (TRGP)
CUSIP 87612G101
0.2%$9.8m36,626No earlier filingNew
Intuit (INTU)
CUSIP 461202103
0.2%$9.7m37,180
+$300k
+15,393 shares
Added
Applied Matls Inc (AMAT)
CUSIP 038222105
0.2%$9.4m12,959
+$7.6m
+7,697 shares
Added
Kinetik Holdings Inc (KNTK)
Common New Class A · CUSIP 02215L209
0.2%$9.3m193,197No earlier filingNew
Antero Midstream Corp (AM)
CUSIP 03676B102
0.2%$9.0m394,955No earlier filingNew
Progyny Inc (PGNY)
CUSIP 74340E103
0.2%$8.5m293,287No earlier filingNew
Zoetis Inc (ZTS)
Class A · CUSIP 98978V103
0.2%$8.1m112,856
+$2.3m
+63,952 shares
Added
Amphenol Corp (APH)
Class A · CUSIP 032095101
0.1%$7.8m43,974
+$2.3m
+539 shares
Added
Fortinet Inc (FTNT)
CUSIP 34959E109
0.1%$7.7m49,858
+$5.0m
+17,407 shares
Added
Newell Brands Inc (NWL)
CUSIP 651229106
0.1%$7.5m1,226,340No earlier filingNew
Liquidia Corporation (LQDA)
CUSIP 53635D202
0.1%$7.4m92,656
+$3.0m
-24,419 shares
Trimmed
Werner Enterprises Inc (WERN)
CUSIP 950755108
0.1%$7.2m165,928
+$5.0m
+89,501 shares
Added
Tractor Supply Co (TSCO)
CUSIP 892356106
0.1%$7.2m226,780No earlier filingNew
Kodiak Gas SVCS Inc (KGS)
CUSIP 50012A108
0.1%$7.2m95,288
+$6.1m
+77,270 shares
Added
Centene Corp Del (CNC)
CUSIP 15135B101
0.1%$7.2m111,446No earlier filingNew
The Trade Desk Inc (TTD)
Common Class A · CUSIP 88339J105
0.1%$6.9m380,269
+$2.4m
+181,598 shares
Added
FS KKR Cap Corp (FSK)
CUSIP 302635206
0.1%$6.9m654,147
+$1.9m
+165,488 shares
Added
Par Pac Holdings Inc (PARR)
CUSIP 69888T207
0.1%$6.8m120,578
-$2.2m
-22,518 shares
Trimmed
Copart Inc (CPRT)
CUSIP 217204106
0.1%$6.7m239,378
-$1.8m
-19,500 shares
Trimmed
F5 Inc (FFIV)
CUSIP 315616102
0.1%$6.7m16,006
+$4.1m
+7,245 shares
Added
Aecom (ACM)
CUSIP 00766T100
0.1%$6.6m93,841
-$200k
+14,611 shares
Added
Lululemon Athletica Inc (LULU)
CUSIP 550021109
0.1%$6.5m57,287
+$6.0m
+53,800 shares
Added
Clover Health Investments Co (CLOV)
Common Class A · CUSIP 18914F103
0.1%$6.4m1,216,631No earlier filingNew
Ge Vernova Inc (GEV)
CUSIP 36828A101
0.1%$6.3m5,402
+$100k
-1,705 shares
Trimmed
Lennar Corp (LEN)
Class A · CUSIP 526057104
0.1%$6.3m69,598
+$2.3m
+24,009 shares
Added
Zillow Group Inc (ZG)
Class A · CUSIP 98954M101
0.1%$6.3m199,310
+$4.6m
+159,195 shares
Added
Prudential Finl Inc (PRU)
CUSIP 744320102
0.1%$6.2m57,739
+$4.2m
+37,101 shares
Added
Jackson Financial Inc (JXN)
Common Class A · CUSIP 46817M107
0.1%$6.0m59,053
-$100k
+1,340 shares
Added
Unitedhealth Group Inc (UNH)
CUSIP 91324P102
0.1%$6.0m14,512
+$5.1m
+10,898 shares
Added
Archrock Inc (AROC)
CUSIP 03957W106
0.1%$6.0m147,931
+$3.5m
+76,829 shares
Added
Park Hotels & Resorts Inc (PK)
CUSIP 700517105
0.1%$5.9m416,250
+$2.6m
+102,345 shares
Added
Adobe Inc (ADBE)
CUSIP 00724F101
0.1%$5.9m28,766
-$16m
-61,107 shares
Trimmed
Marriott Vacations Worldwide (VAC)
CUSIP 57164Y107
0.1%$5.8m56,478
+$2.0m
-764 shares
Trimmed
Comcast Corp New (CMCSA)
Class A · CUSIP 20030N101
0.1%$5.6m229,913
+$2.2m
+109,563 shares
Added
Vishay Intertechnology Inc (VSH)
CUSIP 928298108
0.1%$5.6m104,707
+$2.1m
-93,245 shares
Trimmed
Graphic Packaging HLDG Co (GPK)
CUSIP 388689101
0.1%$5.6m526,039
+$100k
-20,972 shares
Trimmed
Boise Cascade Co Del (BCC)
CUSIP 09739D100
0.1%$5.5m71,169
+$4.3m
+54,800 shares
Added
McDonald's Corp (MCD)
CUSIP 580135101
0.1%$5.3m19,653
+$5.1m
+18,883 shares
Added
Dave Inc (DAVE)
Class A Common New · CUSIP 23834J201
0.1%$5.3m14,145No earlier filingNew
Azenta Inc (AZTA)
CUSIP 114340102
0.1%$5.3m206,465
+$1.6m
+33,465 shares
Added
Kemper Corp (KMPR)
CUSIP 488401100
0.1%$5.1m188,339
+$600k
+42,162 shares
Added
American Airlines Group Inc (AAL)
CUSIP 02376R102
0.1%$5.0m274,049No earlier filingNew
Pitney Bowes Inc (PBI)
CUSIP 724479100
0.1%$4.9m280,318
+$1.8m
-904 shares
Trimmed
United Airls HLDGS Inc (UAL)
CUSIP 910047109
0.1%$4.9m36,072No earlier filingNew
Tyler Technologies Inc (TYL)
CUSIP 902252105
0.1%$4.9m16,608
-$200k
+1,717 shares
Added
Harley Davidson Inc (HOG)
CUSIP 412822108
0.1%$4.8m197,826
+$3.9m
+150,514 shares
Added
General MTRS Co (GM)
CUSIP 37045V100
0.1%$4.8m62,231
-$3.1m
-43,622 shares
Trimmed
PBF Energy Inc (PBF)
Class A · CUSIP 69318G106
0.1%$4.8m104,918
+$3.8m
+85,276 shares
Added
Alignment Healthcare Inc (ALHC)
CUSIP 01625V104
0.1%$4.8m199,957No earlier filingNew
Southwest Airls Co (LUV)
CUSIP 844741108
0.1%$4.7m92,043
+$1.4m
+2,384 shares
Added
Arbor Realty Trust Inc (ABR)
CUSIP 038923108
0.1%$4.7m872,985
+$2.7m
+612,426 shares
Added
PayPal HLDGS Inc (PYPL)
CUSIP 70450Y103
0.1%$4.7m109,355
+$1.7m
+41,691 shares
Added
VanEck Gold Miners (GDX)
puts · CUSIP 92189F106
0.1%$4.7m62,500No earlier filingNew
Salesforce Inc (CRM)
CUSIP 79466L302
0.1%$4.7m30,011
+$4.4m
+28,527 shares
Added
Leidos Holdings Inc (LDOS)
CUSIP 525327102
0.1%$4.7m45,412No earlier filingNew
Knight-swift Transn HLDGS In (KNX)
Class A · CUSIP 499049104
0.1%$4.6m59,208
+$4.3m
+53,138 shares
Added
Danaher Corp Del (DHR)
CUSIP 235851102
0.1%$4.6m24,074
+$3.5m
+18,462 shares
Added
World Kinect Corporation (WKC)
CUSIP 981475106
0.1%$4.6m138,902
+$3.7m
+99,371 shares
Added
Verisk Analytics Inc (VRSK)
CUSIP 92345Y106
0.1%$4.5m25,233
+$3.3m
+18,840 shares
Added
Bloom Energy Corp (BE)
Common Class A · CUSIP 093712107
0.1%$4.5m14,817
+$2.4m
-239 shares
Trimmed
Regency CTRS Corp (REG)
CUSIP 758849103
0.1%$4.4m55,771
+$2.7m
+32,106 shares
Added
Vertiv Holdings Co (VRT)
Common Class A · CUSIP 92537N108
0.1%$4.4m13,257
+$4.2m
+12,110 shares
Added
Astronics Corp (ATRO)
CUSIP 046433108
0.1%$4.4m54,239
+$700k
-1,095 shares
Trimmed
Rithm Capital Corp (RITM)
CUSIP 64828T201
0.1%$4.4m468,732
+$500k
+55,528 shares
Added
Elevance Health Inc Formerly (ELV)
CUSIP 036752103
0.1%$4.3m11,047No earlier filingNew

Every filing on file

QuarterPeriod endFiledBookPositionsTop 10FilerFiling
Q2 202630 Jun 202614 Aug 2026$5.3bn73056%Caxton Associates LLP13F-HR
Q1 202631 Mar 202614 May 2026$4.4bn75556%Caxton Associates LLP13F-HR
Q4 202531 Dec 202513 Feb 2026$5.1bn75258%Caxton Associates LLP13F-HR
Q3 202530 Sept 202517 Nov 2025$4.2bn67462%Caxton Associates LLP13F-HR
Q2 202530 Jun 202515 Aug 2025$3.9bn67257%Caxton Associates LLP13F-HR
Q1 202531 Mar 202516 May 2025$2.9bn74053%Caxton Associates LLP13F-HR
Q4 202431 Dec 202414 Feb 2025$3.2bn47763%Caxton Associates LP13F-HR
Q3 202430 Sept 202414 Nov 2024$2.7bn51264%Caxton Associates LP13F-HR

Taking this into the room

Pick one name from the top of the book and one from the new positions, and know both properly: what the company earns, what it is priced at, and what has to be true for the position to work. That is a conversation. Reciting the whole table is not, and the interviewer wrote it.

A position sold out of is worth as much preparation as one opened. Ask what changed rather than asserting the fund was wrong, and be ready for the answer that the thesis played out and the money went somewhere better.

Compare this against every other manager →How a hedge fund interview runs →

What this filing leaves out

A 13F covers US-listed long equity at one moment in time. Shorts, bonds, cash, private positions and non-US listings never appear, and options are reported in a form that will mislead you if you read them as a position. A long/short manager showing $8bn here may run a book several times that size.

The lag matters too. Positions are as at the quarter end and the filing arrives up to forty-five days later, so what you are reading is at least six weeks old and possibly four months. Phrase it as what the filing showed, not what the fund holds today.

You have read the book. Now have a view on one name

Pick a position, work out what it is worth, and be ready to defend it. That is the difference between a candidate who read the filing and one who did something with it.

Comps ExplorerValue any holding above against its peer setEvery other managerWho else owns it, and who was buying last quarterDeal tapeWhat a buyer paid for a whole company in the sectorHedge fund interviewsHow the room runs, and the stock pitch it wants

Company names, tickers and logos are the trademarks of their respective owners and appear here to identify the company whose public figures are being used. L3VLUP is not affiliated with, sponsored by or endorsed by any company shown, and nothing here is a statement by or about that company. More

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