13F Insight
DOSSIER · 13F-HR · Q3 2025

400 Capital Management LLC

$1.4B in tracked AUM across 1 positions as of Q3 2025.

4C
CIK 0001909739 · last filed Sep 30, 2025
Total AUM
$1.4B
as of Q3 2025
Holdings
1
—
positions
Whale Score
67
67
tracked
Activity
—
no data
changes this Q
AI Analysis · Q3 2025

Portfolio Overview

As of the reporting period ended September 30, 2025, 400 Capital Management LLC managed a total portfolio valued at approximately $1.37 billion, distributed across a single holding. This represents a significant increase in portfolio value of 31.5% compared to the previous quarter's value of $1.04 billion. The most striking characteristic of this filing is the extreme concentration and lack of diversification. The firm has transitioned from a multi-asset strategy to a sin...

Key Holdings

The portfolio is entirely composed of the SPDR S&P 500 ETF Trust (SPY), which accounts for 100% of the total assets under management. The firm holds 2.05 million shares of SPY, valued at $1.37 billion. SPY is the largest and one of the most liquid ETFs tracking the S&P 500 index, providing exposure to 500 of the largest U.S. companies. By holding this single position, 400 Capital Management is effectively gaining exposure to the aggregate performance of the U.S. equity market rather than betting on specific company outcomes. The position size increased by 30.2% during the quarter, with an additional $392.56 million invested, indicating a strong conviction in the continued appreciation of the broad U.S. market.

Analysis generated by 13F Insight from SEC Form 13F filing data · Q3 2025. Methodology

Quarter at a glance — Q3 2025

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q3 2025.

#HoldingValueSharesWeight
01
SPY
SPDR S&P 500 ETF TR
$1.4B2.0M100.0%

Filing history

2025Q3Sep 30
$1.4B▲ 31.5%
1 positionsView →2025Q2Jun 30
$1.0B▲ 141.0%
5 positionsLocked2025Q1Mar 31
$431M▼ 71.2%
6 positionsLocked2024Q4Dec 31
$1.5B▲ 300.3%
6 positionsLocked2023Q3Sep 30
$374M▼ 27.7%
4 positionsLocked2023Q2Jun 30
$517M▲ 1890.9%
7 positionsLocked2023Q1Mar 31
$26M▲ 27.0%
5 positionsLocked2022Q4Dec 31
$20M▼ 95.9%
8 positionsLocked2022Q3Sep 30
$497M▼ 62.1%
13 positionsLocked2022Q2Jun 30
$1.3B▲ 202.1%
15 positionsLocked2022Q1Mar 31
$434M▲ 216.1%
22 positionsLocked2021Q4Dec 31
$137M—
11 positionsLocked