BM
Bridger Management, LLC 13F Holdings & Position Changes (Q2 2026)
Bridger Management, LLCCIK: 0001166309
ContrarianQuality / disciplined sizingSector-focused
Total reported value
$150.1M
Reporting period: 2026-06-30 · Number of holdings: 24
BRIDGER MANAGEMENT, LLC disclosed 24 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $150.1M and a quarterly turnover rate of 46.6%.
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Personality snowflake
- Concentration
- 27.18
- Portfolio Stability
- 46.65
- Momentum
- 12.66
- Sector conviction
- 71.1
- Diversification
- 48
- Sizing Uniformity
- 91.89
Bridger Management, LLC's disclosed holdings carry a Herfindahl concentration index of 0.068 — mathematically equivalent to about 15 equally-sized positions, close to its 24 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.81), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNew buy UNH
Sold out ALC
Sold out NKE
Sold out AORT
New buy OSCR
New buy HQY
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | MS | Morgan Stanley | Stock-Financials | 15.64% | +1.20% | — | |
| 2 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 9.97% | -0.25% | — | |
| 3 | TEVA | Teva Pharmaceutical-sp Adr | Stock-Healthcare | 8.30% | -0.35% | — | |
| 4 | UNH | Unitedhealth Group Inc | Stock-Healthcare | 6.56% | +6.56% | NEW | |
| 5 | FLUT | Flutter Entertainment plc | Stock-Consumer Disc | 6.29% | -1.07% | — | |
| 6 | LLY | Eli Lilly & Co | Stock-Healthcare | 4.67% | +1.27% | +23.42% | |
| 7 | DXCM | Dexcom Inc | Stock-Healthcare | 4.57% | -0.43% | — | |
| 8 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 4.40% | +0.25% | — | |
| 9 | MLM | Martin Marietta Materials | Stock-Materials | 4.25% | +0.74% | +44.74% | |
| 10 | V | Visa Inc-class A Shares | Stock-Financials | 3.93% | -0.13% | — | |
| 11 | MSGS | Madison Square Garden Sports | Stock-Comm Services | 3.50% | +0.22% | — | |
| 12 | CHDN | Churchill Downs Inc | Stock-Consumer Disc | 3.42% | -0.59% | — | |
| 13 | OSCR | Oscar Health Inc - Class A | Stock-Healthcare | 3.28% | +3.28% | NEW | |
| 14 | HQY | Healthequity Inc | Stock-Healthcare | 3.11% | +3.11% | NEW | |
| 15 | MSFT | Microsoft CORP | Stock-Tech | 3.06% | -0.50% | — | |
| 16 | DASH | Doordash Inc - A | Stock-Consumer Disc | 2.94% | +0.13% | — | |
| 17 | UBER | Uber Technologies Inc | Stock-Industrials | 2.81% | -0.47% | — | |
| 18 | HIMS | Hims & Hers Health Inc | Stock-Healthcare | 2.77% | +2.77% | NEW | |
| 19 | IBIT | Ishares Bitcoin Trust ETF | ETF-Crypto | 1.84% | -0.66% | — | |
| 20 | MLCO | Melco Resorts & Entert-adr | Stock-Other | 1.84% | -0.48% | — | |
| 21 | ✓ | Stock-Other | 1.76% | +1.76% | NEW | ||
| 22 | TOST | Toast Inc-class A | Stock-Tech | 0.75% | -0.09% | — | |
| 23 | NEXT | Nextdecade CORP | Stock-Other | 0.34% | -0.07% | — | |
| 24 | SRZNW | Surrozen Inc-cw25 | Stock-Other | — | -0.01% | — |
Portfolio Performance
Performance for Q3 2026
+6.7%
Performance Last 4 Quarters
+11.7%
- Stdev
- +16%
- Beta
- +1
- Alpha
- -6.2%
- Max Drawdown
- -10.5%
- Annualized Perf
- +13.3%
- Batting Avg vs S&P
- +41.7%
- Sortino
- +1.53
- Stutzer
- +0.25
- Treynor
- +0.14
- Sterling
- +0.7
- Calmar
- +1.27
- Information Ratio
- -0.66
- Tracking Error
- +9.3%
- Stdev Down
- +9%
- Winning Months %
- +61.1%
- Losing Months %
- +38.9%
- Best 12 Months
- +40.8%
- Worst 12 Months
- -1.9%
- Efficiency Ratio
- +0.34
- Sharpe
- +0.86
- Stdev Sectors
- +11.6%
- Skewness
- +0.04
- Kurtosis
- -0.51
- Upside Potential
- +3.25
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 24 | $150.1M | 47 | ||
| 2026 Q1 | 24 | $128.0M | 54 | ||
| 2025 Q4 | 24 | $155.5M | 75 | ||
| 2025 Q3 | 28 | $185.6M | 93 | ||
| 2025 Q2 | 25 | $169.6M | 0 | ||
| 2025 Q1 | 29 | $201.2M | 100 | ||
| 2024 Q4 | 28 | $186.1M | 0 | ||
| 2024 Q3 | 29 | $199.9M | 0 | ||
| 2024 Q2 | 28 | $194.3M | 0 | ||
| 2024 Q1 | 31 | $221.8M | 0 | ||
| 2023 Q4 | 28 | $259.5M | 0 | ||
| 2023 Q3 | 31 | $271.9M | 0 | ||
| 2023 Q2 | 29 | $300.3M | 0 | ||
| 2023 Q1 | 28 | $268.0M | 0 | ||
| 2022 Q4 | 23 | $246.6M | 0 | ||
| 2022 Q3 | 44 | $329.6M | 0 | ||
| 2022 Q2 | 43 | $443.6M | 0 | ||
| 2022 Q1 | 52 | $609.7M | 0 | ||
| 2021 Q4 | 44 | $773.3M | 0 | ||
| 2021 Q3 | 46 | $854.7M | 0 | ||
| 2021 Q2 | 44 | $1.1B | 32 | ||
| 2021 Q1 | 42 | $1.1B | 57 | ||
| 2020 Q4 | 39 | $1.3B | 37 | ||
| 2020 Q3 | 36 | $1.3B | 62 | ||
| 2020 Q2 | 35 | $1.1B | 44 | ||
| 2020 Q1 | 36 | $864.2M | 80 | ||
| 2019 Q4 | 35 | $1.4B | 43 | ||
| 2019 Q3 | 30 | $1.2B | 34 | ||
| 2019 Q2 | 31 | $1.3B | 54 | ||
| 2019 Q1 | 33 | $1.3B | 34 | ||
| 2018 Q4 | 34 | $1.2B | 61 | ||
| 2018 Q3 | 34 | $1.7B | 44 | ||
| 2018 Q2 | 37 | $1.8B | 33 | ||
| 2018 Q1 | 37 | $1.6B | 38 | ||
| 2017 Q4 | 33 | $1.5B | 66 | ||
| 2017 Q3 | 34 | $1.7B | 39 | ||
| 2017 Q2 | 37 | $1.8B | 45 | ||
| 2017 Q1 | 37 | $1.8B | 51 | ||
| 2016 Q4 | 36 | $1.4B | 70 | ||
| 2016 Q3 | 37 | $1.5B | 46 | ||
| 2016 Q2 | 38 | $1.5B | 44 | ||
| 2016 Q1 | 40 | $1.4B | 92 | ||
| 2015 Q4 | 38 | $3.0B | 100 | ||
| 2015 Q3 | 37 | $1.5B | 100 | ||
| 2015 Q2 | 44 | $3.2B | 100 | ||
| 2015 Q1 | 38 | $1.5B | 59 | ||
| 2014 Q4 | 41 | $1.6B | 61 | ||
| 2014 Q3 | 43 | $1.5B | 46 | ||
| 2014 Q2 | 38 | $1.4B | 58 | ||
| 2014 Q1 | 43 | $1.5B | 45 | ||
| 2013 Q4 | 40 | $1.4B | 44 | ||
| 2013 Q3 | 42 | $1.4B | 55 | ||
| 2013 Q2 | 39 | $1.4B | 0 |
Holding changes this quarter
Bridger Management, LLC's most significant position changes for 2026-06-30: New buy: Unitedhealth Group Inc (UNH); Sold out: Alcon Inc. (ALC); Sold out: Nike Inc -cl B (NKE); New buy: Oscar Health Inc - Class A (OSCR); Sold out: Artivion Inc (AORT).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | UNH | Unitedhealth Group Inc | +6.6% | NEW | New buy |
| 2 | OSCR | Oscar Health Inc - Class A | +3.3% | NEW | New buy |
| 3 | HQY | Healthequity Inc | +3.1% | NEW | New buy |
| 4 | HIMS | Hims & Hers Health Inc | +2.8% | NEW | New buy |
| 5 | ✓ | +1.8% | NEW | New buy | |
| 6 | LLY | Eli Lilly & Co | +1.3% | +23.42% | Add |
| 7 | MS | Morgan Stanley | +1.2% | — | Unchanged |
| 8 | MLM | Martin Marietta Materials | +0.7% | +44.74% | Add |
| 9 | GOOGL | Alphabet Inc-cl A | +0.3% | — | Unchanged |
| 10 | MSGS | Madison Square Garden Sports | +0.2% | — | Unchanged |
| 11 | DASH | Doordash Inc - A | +0.1% | — | Unchanged |
| 12 | SRZNW | Surrozen Inc-cw25 | 0% | — | Unchanged |
| 13 | NEXT | Nextdecade CORP | -0.1% | — | Unchanged |
| 14 | TOST | Toast Inc-class A | -0.1% | — | Unchanged |
| 15 | V | Visa Inc-class A Shares | -0.1% | — | Unchanged |
| 16 | AMZN | Amazon.com Inc | -0.3% | — | Unchanged |
| 17 | TEVA | Teva Pharmaceutical-sp Adr | -0.4% | — | Unchanged |
| 18 | DXCM | Dexcom Inc | -0.4% | — | Unchanged |
| 19 | UBER | Uber Technologies Inc | -0.5% | — | Unchanged |
| 20 | MLCO | Melco Resorts & Entert-adr | -0.5% | — | Unchanged |
| 21 | MSFT | Microsoft CORP | -0.5% | — | Unchanged |
| 22 | CHDN | Churchill Downs Inc | -0.6% | — | Unchanged |
| 23 | IBIT | Ishares Bitcoin Trust ETF | -0.7% | — | Unchanged |
| 24 | FLUT | Flutter Entertainment plc | -1.1% | — | Unchanged |
| 25 | RXST | Rxsight Inc | -1.2% | EXIT | Sold out |
| 26 | BBNX | Beta Bionics Inc | -1.3% | EXIT | Sold out |
| 27 | AORT | Artivion Inc | -3.8% | EXIT | Sold out |
| 28 | NKE | Nike Inc -cl B | -5% | EXIT | Sold out |
| 29 | ALC | Alcon Inc. | -5% | EXIT | Sold out |
Filing History
FAQ
What is Bridger Management, LLC and what type of investor is it?
Bridger Management, LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $150.1M, spread across 24 disclosed positions.
What are Bridger Management, LLC's largest equity positions?
Based on the latest 13F filing, Bridger Management, LLC's top holdings by market value are:
1. Morgan Stanley (MS) — $23.5M (15.6%)
2. Amazon.com Inc (AMZN) — $15.0M (10.0%)
3. Teva Pharmaceutical-sp Adr (TEVA) — $12.5M (8.3%)
4. Unitedhealth Group Inc (UNH) — $9.9M (6.6%)
5. Flutter Entertainment plc (FLUT) — $9.4M (6.3%)
What changes did Bridger Management, LLC make in its most recent portfolio filing?
In the latest reported quarter, Bridger Management, LLC made 12 notable position adjustments: 5 new positions were initiated, 2 existing holdings were added to, 0 positions were partially reduced, and 5 were completely exited. The largest of these moves: New buy: Unitedhealth Group Inc (UNH); Sold out: Alcon Inc. (ALC); Sold out: Nike Inc -cl B (NKE); New buy: Oscar Health Inc - Class A (OSCR); Sold out: Artivion Inc (AORT)
What sectors does Bridger Management, LLC focus on?
Bridger Management, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Health Care: 35.3%
• Consumer Discretionary: 24.0%
• Financials: 20.8%
• Communication Services: 8.4%
• Materials: 4.5%
• Information Technology: 4.0%
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Investment Profile
Bridger Management, LLC returned an annualized 13.3% over the trailing 36 months — underperforming the S&P 500 by 6.2 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.00 (roughly in line with the market) and a 42% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 35.3% of the portfolio concentrated in Health Care.
Its turnover score has risen from 0 to 47 over the past 4 quarters — a shift toward more active trading.
It has added to its FLUT position over the past two quarters (+$4.2M, now $9.4M), while trimming CHDN over the same stretch (-$1.4M, still holding $5.1M).
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Developer Access
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