Glazer Capital Q3 2026 Investment Activity Report

Glazer Capital has continued to demonstrate active portfolio management in Q3 2026. The investor's focus appears concentrated across several sectors, with notable activity observed in Healthcare, Real Estate, Industrials, Technology, and Consumer Cyclical.

Significant Purchases

In the third quarter, Glazer Capital made substantial additions to its portfolio. Notable purchases include:

• JHG: JANUS HENDERSON GROUP PLC experienced a significant increase in holdings by approximately 813%, suggesting strong confidence or alignment with the fund's investment thesis.
• NUVL: NUVALENT INC saw its position fully replaced (100% change), indicating a major new investment interest in this company.
• APGE: APOGEE THERAPEUTICS INC was also added to the portfolio with a full position replacement, further emphasizing the investor's focus on innovative biotech solutions.
• BLD: TOPBUILD COR received a new allocation of about 5.18% following its addition to the portfolio with a full position replacement.
• SEM: SELECT MED HLDGS CORP was significantly increased in weight, growing by approximately 63%, which now accounts for about 4.37% of the portfolio value.

Substantial Sales and Position Reductions

The investor also divested significant portions or entire positions during Q3:

• BHF: BRIGHTHOUSE FINL INC saw its position reduced by nearly 90%, indicating a major shift away from this company.
• DBRG: DIGITALBRIDGE GROUP INC experienced a substantial decrease of about 47% in its holdings, reflecting significant selling activity on the part of Glazer Capital.
• Several other positions were fully replaced (100% change), meaning they are no longer held by the fund. These include: CPRX, CATALYST PHARMACEUTICALS INC; HBM, HUDBAY MINERALS INC; and LPRO, OPEN LENDING CORP.
• Additionally, the fund shed positions in companies like GBTG, GLOBAL BUSINESS TRAVEL GROUP INC (reducing by approximately 90%), and exited holdings entirely in other cases such as EA or positions that changed by over 100%.

Focused Investment Profile

The data underscores Glazer Capital's strategic approach. The investor holds a total of 57 stocks, with the top five holdings accounting for approximately 28.32% of the portfolio value combined (as per portfolio_indicators). This indicates a concentrated strategy focused on high-impact individual positions.

The fund's allocation breakdown reveals its primary focus areas:

• Healthcare remains the largest sector for Glazer Capital, comprising approximately 40.74% of the portfolio value.
• Industrials follows with about 14.16%, including allocations to companies like GTLS, CHART INDS INC.
• A significant portion of the portfolio (~13.91%) is allocated to stocks where the sector information is unknown (or unreported).
• Real Estate holds a notable allocation at around 8.34%, featuring companies like DBRG, DIGITALBRIDGE GROUP INC.
• The remaining allocations are spread across Communication Services (~6.5%), Technology (~3.76%), Consumer Cyclical (~3.14%), and Basic Materials (~3.55%).

Glazer Capital's portfolio is characterized by frequent turnover, with indicators showing 55 holdings changed this quarter ("has_large_buys": true, "has_large_sells": true"). This dynamic approach suggests a focus on capitalizing on specific opportunities and cutting losses or underperforming assets.

For more detailed information about Glazer Capital's investment activities, please visit their institutional profile. Detailed data for individual stocks can be found at their respective pages, such as JHG, DBRG, and others.