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QVT Financial LP

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13F filer, CIK 1290162, New York, NY

QVT Financial LP reported $1,416,918,278 across 54 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 86.98% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001193125-25-283302

Period
2025-09-30
Reported value
$1.42B
Holdings
54
Top 10 weight
86.98%
New
17
Sold out
9

Largest buys vs the previous quarter

SecurityShares changeApprox. value
INFQnew+1,395,585$17.9M
KMXnew+35,000$1.57M
GOOGLnew+5,239$1.27M
MDBnew+3,205$995K
CYBERARK SOFTWARE LTD/ISRAELnew+1,977$955K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
NVDAreduced-134,309-$25.1M
GSreduced-17,900-$14.3M
AMZNexited-55,643-$12.2M
METAreduced-10,926-$8.02M
WBDreduced-170,370-$3.33M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0001193125-25-283302, largest first. % of portfolio is the value over $900,798,906, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
ROIVROIVANT SCIENCES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 65,793,779 shares; 2024Q4: 65,793,779 shares; 2025Q1: 65,793,779 shares; 2025Q2: 29,381,635 shares; 2025Q3: 29,381,635 shares 29,381,635$445M49.35%0Timeline
Tourmaline Bio IncTourmaline Bio IncQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 711,275 shares; 2024Q4: 711,275 shares; 2025Q1: 1,473,369 shares; 2025Q2: 2,154,653 shares; 2025Q3: 2,154,653 shares 2,154,653$103M11.44%0
ALLTALLOT LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,981,427 shares; 2024Q4: 3,205,793 shares; 2025Q1: 3,687,855 shares; 2025Q2: 4,505,793 shares; 2025Q3: 4,505,793 shares 4,505,793$47.7M5.29%0Timeline
GSGOLDMAN SACHS GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 67,926 shares; 2024Q4: 67,926 shares; 2025Q1: 74,926 shares; 2025Q2: 75,426 shares; 2025Q3: 57,526 shares 57,526$45.8M5.09%-17,900Timeline
ECOOKEANIS ECO TANKERS CORQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,423,997 shares; 2024Q4: 1,423,997 shares; 2025Q1: 1,423,997 shares; 2025Q2: 1,423,997 shares; 2025Q3: 1,423,997 shares 1,423,997$37.5M4.16%0Timeline
NNINELNET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 229,665 shares; 2024Q4: 229,665 shares; 2025Q1: 229,665 shares; 2025Q2: 229,665 shares; 2025Q3: 229,665 shares 229,665$28.8M3.2%0Timeline
BRK-BBERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 47,946 shares; 2024Q4: 47,946 shares; 2025Q1: 47,946 shares; 2025Q2: 47,946 shares; 2025Q3: 47,946 shares 47,946$24.1M2.68%0Timeline
NYTNEW YORK TIMES CO MTN BEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 316,947 shares; 2024Q4: 316,947 shares; 2025Q1: 316,947 shares; 2025Q2: 316,947 shares; 2025Q3: 316,947 shares 316,947$18.2M2.02%0Timeline
INFQINFLEQTION INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,395,585 shares 1,395,585$17.9M1.99%newTimeline
LILAKLIBERTY LATIN AMERICA LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,749,467 shares; 2024Q4: 1,749,467 shares; 2025Q1: 1,749,467 shares; 2025Q2: 1,749,467 shares; 2025Q3: 1,749,467 shares 1,749,467$14.8M1.64%0Timeline
IONQIONQ INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 225,931 shares; 2025Q3: 239,228 shares 239,228$14.7M1.63%+13,297Timeline
ATEXANTERIX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 503,941 shares; 2024Q4: 503,941 shares; 2025Q1: 503,941 shares; 2025Q2: 503,941 shares; 2025Q3: 503,941 shares 503,941$10.8M1.2%0Timeline
WHWKWHITEHAWK THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,313,702 shares; 2025Q1: 4,515,709 shares; 2025Q2: 4,615,709 shares; 2025Q3: 4,615,709 shares 4,615,709$8.33M0.92%0Timeline
JAAAJANUS DETROIT STR TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 148,582 shares; 2025Q3: 148,582 shares 148,582$7.54M0.84%0Timeline
SMMTSUMMIT THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 360,524 shares; 2024Q4: 360,524 shares; 2025Q1: 360,524 shares; 2025Q2: 360,524 shares; 2025Q3: 360,524 shares 360,524$7.45M0.83%0Timeline
ARGXARGENX SEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 32,498 shares; 2024Q4: 16,498 shares; 2025Q1: 13,030 shares; 2025Q2: 13,030 shares; 2025Q3: 8,680 shares 8,680$6.4M0.71%-4,350Timeline
NENOBLE CORP PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 208,634 shares; 2024Q4: 208,634 shares; 2025Q1: 208,634 shares; 2025Q2: 208,634 shares; 2025Q3: 208,634 shares 208,634$5.9M0.65%0Timeline
NVDANVIDIA CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 151,549 shares; 2025Q3: 17,240 shares 17,240$3.22M0.36%-134,309Timeline
SNPSSYNOPSYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 3,886 shares; 2025Q1: 4,503 shares; 2025Q2: 4,503 shares; 2025Q3: 5,420 shares 5,420$2.67M0.3%+917Timeline
BHVNBIOHAVEN LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 170,006 shares; 2024Q4: 170,006 shares; 2025Q1: 170,006 shares; 2025Q2: 170,006 shares; 2025Q3: 170,006 shares 170,006$2.55M0.28%0Timeline
CMTLCOMTECH TELECOMMUNICATIONS CQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 605,773 shares; 2024Q4: 605,773 shares; 2025Q1: 705,773 shares; 2025Q2: 984,354 shares; 2025Q3: 984,354 shares 984,354$2.41M0.27%0Timeline
APPAPPLOVIN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 2,889 shares; 2025Q2: 4,793 shares; 2025Q3: 3,253 shares 3,253$2.34M0.26%-1,540Timeline
GTNGRAY MEDIA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 291,452 shares; 2024Q4: 291,452 shares; 2025Q1: 291,452 shares; 2025Q2: 291,452 shares; 2025Q3: 291,452 shares 291,452$1.68M0.19%0Timeline
KMXCARMAX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 35,000 shares 35,000$1.57M0.17%newTimeline
IOVAIOVANCE BIOTHERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 678,564 shares; 2024Q4: 678,564 shares; 2025Q1: 678,564 shares; 2025Q2: 678,564 shares; 2025Q3: 678,564 shares 678,564$1.47M0.16%0Timeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,361 shares; 2025Q2: 12,902 shares; 2025Q3: 1,976 shares 1,976$1.45M0.16%-10,926Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 5,239 shares 5,239$1.27M0.14%newTimeline
WBDWARNER BROS DISCOVERY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 457,850 shares; 2025Q1: 457,850 shares; 2025Q2: 228,925 shares; 2025Q3: 58,555 shares 58,555$1.14M0.13%-170,370Timeline
DASHDOORDASH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,631 shares; 2025Q3: 3,744 shares 3,744$1.02M0.11%+2,113Timeline
GSBDGOLDMAN SACHS BDC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 100,000 shares; 2025Q3: 100,000 shares 100,000$1.02M0.11%0Timeline
MDBMONGODB INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,581 shares; 2025Q2: not reported; 2025Q3: 3,205 shares 3,205$995K0.11%newTimeline
CYBERARK SOFTWARE LTD/ISRAELCYBERARK SOFTWARE LTD/ISRAELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,977 shares 1,977$955K0.11%new
NOWSERVICENOW INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 873 shares 873$803K0.09%newTimeline
PDDPDD HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 4,728 shares 4,728$625K0.07%newTimeline
MTSIMACOM TECH SOLUTIONS HLDGS IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 4,477 shares 4,477$557K0.06%newTimeline
NFLXNETFLIX INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 418 shares 418$501K0.06%newTimeline
DDOGDATADOG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 3,418 shares 3,418$487K0.05%newTimeline
CFLTCONFLUENT INC-CLASS AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 17,248 shares 17,248$342K0.04%newTimeline
ORCLORACLE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,075 shares 1,075$302K0.03%newTimeline
MNDYMONDAY COM LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 2,087 shares; 2025Q3: 1,401 shares 1,401$271K0.03%-686Timeline
SNOWSNOWFLAKE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 967 shares; 2025Q3: 1,195 shares 1,195$270K0.03%+228Timeline
TCOMTRIP COM GROUP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 2,867 shares 2,867$216K0.02%newTimeline
CHURCHILL CAP CORP XCHURCHILL CAP CORP XQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 50,000 shares 50,000$178K0.02%new

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
HYGISHARES TR IBOXX HI YD ETFput3,000,000$244M+350,000
IONQIONQ INC Stockput1,522,500$93.6M+665,000
CVNACARVANA CO Stockput157,500$59.4M+57,500
QQQINVESCO QQQ TR COMput78,871$47.4M+12,111
GSGOLDMAN SACHS GROUP INC COMput49,500$39.4M+2,100
NXSTNEXSTAR MEDIA GROUP INC Stockput155,281$30.7M0
ORCLORACLE CORP COMcall5,000$1.41Mnew
QBTSD-WAVE QUANTUM INC COMput25,000$618Knew

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
MAKEMYTRIP LIMITED MAURITIUSMAKEMYTRIP LIMITED MAURITIUS NOTE 2/1principal6,500,000$15.8M0
SOUTHERN COSOUTHERN CO NOTE 3.875%12/1principal8,859,000$10.1Mnew
IQIYI INCIQIYI INC NOTE 6.500% 3/1principal1,000,000$1.01M0

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
ARCCARES CAPITAL CORP625,900$13.7Mput
AMZNAMAZON COM INC55,643$12.2Mshares
TRINTRINITY CAP INC750,000$10.6Mput
AMERICAN AIRLINES GROUP INCAMERICAN AIRLINES GROUP INC10,000,000$10Mprincipal
INFORMATICA INCINFORMATICA INC90,817$2.21Mshares
TTANSERVICETITAN INC18,773$2.01Mshares
JBBBJANUS DETROIT STR TR16,700$805Kput
GTLBGITLAB INC5,838$263Kshares
Mersana Therapeutics IncMersana Therapeutics Inc62,657$18.5Kshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001193125-25-283302 base2025-11-14acceptance time not in the bulk data set