III Capital Management

Hedge Fund • Multi-Strategy

III Capital Management is a Multi-Strategy Hedge Fund based in Boca Raton, FL led by Scott Lawrence Wyler, reporting $85.1B in AUM as of Q3 2025 with 74% ETF concentration, 83% concentrated in top 10 holdings, and 71% allocation to SPY.

CEOScott Lawrence Wyler

Portfolio Value: $388.1M
Positions: 43
Top Holding: SPY at 71.37%
Last Reported: Q3 2025

Address777 Yamato Road, Suite 300, Boca Raton, FL, 33431, United States

Top Holdings

Largest long holdings in III Capital Management's portfolio (83.2% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 SPDR S&P 500 ETF Trust SPY	ETF ETF	$277.0M	71.37%	+$57.7M Bought	— 415.8K shares	Q1 2023 Held for 2y 8m
2 iShares Core S&P Mid-Cap ETF IJH	ETF ETF	$7.3M	1.88%	+$7.3M New	— 112.0K shares	Q3 2025 Held for 2 months
3 IAC, Inc. IAC	Internet Content & Information Communication Services	$6.1M	1.58%	+$6.1M Bought	— 180.0K shares	Q3 2025 Held for 2 months
4 Hyatt Hotels H	Travel Lodging Consumer Cyclical	$5.1M	1.31%	+$195.2K Bought	0.04% 35.9K shares	Q2 2024 Held for 1y 5m
5 Western Digital WDC	Computer Hardware Technology	$5.0M	1.29%	-$4.9M Sold	0.01% 41.7K shares	Q3 2023 Held for 2y 2m
6 Driven Brands Holdings Inc. DRVN	Auto - Dealerships Consumer Cyclical	$4.8M	1.23%	+$735.0K Bought	0.18% 295.6K shares	Q1 2025 Held for 8 months
7 BorgWarner BWA	Auto - Parts Consumer Cyclical	$4.7M	1.20%	-$1.2M Sold	0.05% 105.8K shares	Q3 2023 Held for 2y 2m
8 AT&T T	Telecommunications Services Communication Services	$4.6M	1.19%	+$3.8M Bought	0.00% 163.6K shares	Q2 2025 Held for 5 months
9 OUTFRONT Media OUT	REIT - Specialty Real Estate	$4.3M	1.11%	-$997.1K Sold	0.14% 235.4K shares	Q3 2023 Held for 2y 2m
10 CRH CRH	Construction Materials Basic Materials	$4.1M	1.06%	-$2.5M Sold	0.01% 34.4K shares	Q4 2023 Held for 1y 11m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in III Capital Management's latest filing

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Market Value

$388.1M

Prior: $498.3M

Q/Q Change

-22.11%

-$110.2M

Net Flows % of MV

-38.24%

Turnover Ratio

44.04%

New Purchases

8 stocks

$16.3M

Added To

16 stocks

+$72.0M

Sold Out Of

15 stocks

$219.0M

Reduced Holdings

13 stocks

-$17.7M

Increased Positions

Position	Shares Δ	Change
1 iShares Core S&P Mid-Cap ETF IJH	New	0 → 112.0K +$7.3M
2 Mattel MAT	New	0 → 200.0K +$3.4M
3 Carnival Corporation CCL	New	0 → 60.0K +$1.7M
4 Walt Disney DIS	New	0 → 10.0K +$1.1M
5 Pinterest, Inc. PINS	New	0 → 35.0K +$1.1M

Decreased Positions

Position	Shares Δ	Change
1 Vanguard Short-Term Corporate Bond VCSH	Sold	2.2M → 0 −$171.7M
2 iShares iBoxx High Yield Corporate Bond HYG	Sold	249.0K → 0 −$20.1M
3 Invesco S&P 500 Equal Weight ETF RSP	Sold	50.0K → 0 −$9.1M
4 Herc Holdings HRI	Sold	40.0K → 0 −$5.3M
5 Wynn Resorts WYNN	Sold	25.0K → 0 −$2.3M