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Livermore
Livermore
ZHEN

Cubist Systematic Strategies, LLC

SEC CIK
0001603465
Latest filing
Nov 14, 2025

The latest 13F from Cubist Systematic Strategies, LLC covers Q3 2025 (filed Nov 14, 2025): 1,456 long positions worth $7.09B. The top 10 holdings make up 7.9% of the portfolio, and the largest is Boston Scientific Corp (BSX) at 1.2%. Livermore has 20 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q3 2025

Share counts compared with Q2 2025: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
615
Est. +$2.66B
Added
353
Est. +$1.29B
Reduced
479
Est. −$2.79B
Sold out
612
Est. −$3.61B

Top 5 holdings

Share of this quarter's portfolio value

  1. BSXBoston Scientific Corp
    1.2%$88.2MHistory
  2. ADSKAutodesk, Inc.
    0.9%$61.1MHistory
  3. KDPKeurig Dr Pepper Inc.
    0.9%$60.4MHistory
  4. ABNBAirbnb, Inc.
    0.8%$57.5MHistory
  5. ISRGIntuitive Surgical Inc
    0.8%$54.9MHistory

Share of portfolio

Top 5 holdings and the other 1,451 positions, by share of portfolio value

  1. BSX1.2%
  2. ADSK0.9%
  3. KDP0.9%
  4. ABNB0.8%
  5. ISRG0.8%
  6. Other 1,451 positions95.5%

Biggest buys

New and added positions, by estimated amount bought

  1. KDPKeurig Dr Pepper Inc.
    +$60.4MNewHistory
  2. ADSKAutodesk, Inc.
    +$48.4MAddedHistory
  3. TELTE Connectivity plc
    +$44.7MNewHistory
  4. KEYKeycorp
    +$44.3MNewHistory
  5. BSXBoston Scientific Corp
    +$44.0MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. KDPKeurig Dr Pepper Inc.
    +0.85 pp0.0% → 0.9%History
  2. ADSKAutodesk, Inc.
    +0.73 pp0.1% → 0.9%History
  3. BSXBoston Scientific Corp
    +0.72 pp0.5% → 1.2%History
  4. TELTE Connectivity plc
    +0.63 pp0.0% → 0.6%History
  5. KEYKeycorp
    +0.62 pp0.0% → 0.6%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. ADBEAdobe Inc.
    −$119.8MSold outHistory
  2. MAMastercard Inc
    −$96.6MSold outHistory
  3. ABBVAbbVie Inc.
    −$88.8MSold outHistory
  4. SOFISoFi Technologies, Inc.
    −$77.4MSold outHistory
  5. APHAmphenol Corp
    −$66.2MSold outHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. ADBEAdobe Inc.
    −1.30 pp1.3% → 0.0%History
  2. MAMastercard Inc
    −1.05 pp1.0% → 0.0%History
  3. ABBVAbbVie Inc.
    −0.96 pp1.0% → 0.0%History
  4. SOFISoFi Technologies, Inc.
    −0.84 pp0.8% → 0.0%History
  5. APHAmphenol Corp
    −0.72 pp0.7% → 0.0%History

Metrics

13F metrics for Q3 2025, computed only from the numbers in the filings. Definitions below.

Portfolio value
$7.09B
−$2.14B (−23.2%) vs. prior quarter
Positions
1,456
+3 vs. prior quarter
Top 10 concentration
7.9%
Top 10 as share of value
Turnover
48.4%
Q3 2025, one quarter
Average holding period
3.2 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

19 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $13.5B (Q3 2022)

Q1 2021: $7.81BQ2 2021: $8.87BQ3 2021: $7.94BQ4 2021: $10.5BQ1 2022: $11.8BQ2 2022: $13.4BQ3 2022: $13.5BQ4 2022: $11.6BQ1 2023: $10.7BQ2 2023: $9.03BQ3 2023: $8.10BQ4 2023: $8.08BQ1 2024: $8.77BQ2 2024: $5.78BQ3 2024: $6.61BQ4 2024: $6.15BQ1 2025: $7.63BQ2 2025: $9.23BQ3 2025: $7.09B
Q1 2021Q3 2025
13F filings of Cubist Systematic Strategies, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q3 2025Nov 14, 20251,456$7.09BBSXADSKKDPvs. Q2 2025SEC
Q2 2025Aug 14, 20251,453$9.23BADBEMASCHWvs. Q1 2025SEC
Q1 2025May 15, 20251,386$7.63BAVGOANETPNCvs. Q4 2024SEC
Q4 2024Feb 14, 20251,432$6.15BADBEAALCHTRvs. Q3 2024SEC
Q3 2024Nov 14, 20241,400$6.61BBACMSFTSPOTvs. Q2 2024SEC
Q2 2024Sep 16, 2024Amended1,373$5.78BAAPLAMZNVvs. Q1 2024SEC
Q1 2024May 15, 20242,144$8.77BAMZNMETAZTSvs. Q4 2023SEC
Q4 2023Feb 14, 20242,084$8.08BNVDAMSFTAMZNvs. Q3 2023SEC
Q3 2023Nov 14, 20231,927$8.10BMCDELVADBEvs. Q2 2023SEC
Q2 2023Aug 14, 20232,209$9.03BELVNVDAGOOGLvs. Q1 2023SEC
Q1 2023May 15, 20232,795$10.7BCVSCILHXvs. Q4 2022SEC
Q4 2022Feb 14, 20233,223$11.6BAAPLAMZNCVSvs. Q3 2022SEC
Q3 2022Nov 14, 20223,594$13.5BVCMECHTRvs. Q2 2022SEC
Q2 2022Aug 15, 20223,792$13.4BAXPBACMPCvs. Q1 2022SEC
Q1 2022May 16, 20223,509$11.8BABTVZMSCIvs. Q4 2021SEC
Q4 2021Feb 14, 20223,436$10.5BCHONMDTvs. Q3 2021SEC
Q3 2021Nov 15, 20212,930$7.94BLYBILMNDKSvs. Q2 2021SEC
Q2 2021Aug 16, 20212,894$8.87BWMTMUOKTAvs. Q1 2021SEC
Q1 2021May 17, 20212,804$7.81BAAPLAPTVMU–SEC

13D and 13G filings

Companies where Cubist Systematic Strategies, LLC reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

Cubist Systematic Strategies, LLC does not currently report owning 5% or more of any company.

Latest filings

11 filings on file made by Cubist Systematic Strategies, LLC or listing it as a reporting person, newest first.

Schedule 13D and 13G filings by Cubist Systematic Strategies, LLC
CompanyFiled (ET)FormStakeChangeEvent dateFiling
Northern Revival Acquisition CorpFeb 14, 202413G/AOld format–––SEC
ACACAcri Capital Acquisition CorpFeb 14, 202413G/AOld format–––SEC
FRLAFortune Rise Acquisition CorpFeb 14, 202413G/AOld format–––SEC
BWAQBlue World Acquisition CorpFeb 14, 202413G/AOld format–––SEC
BWAQBlue World Acquisition CorpMay 4, 202313GOld format–New–SEC
FRLAFortune Rise Acquisition CorpApr 14, 202313GOld format–New–SEC
Northern Revival Acquisition CorpMar 21, 202313GOld format–New–SEC
ACACAcri Capital Acquisition CorpFeb 17, 202313GOld format–New–SEC
Breeze Holdings Acquisition Corp.Feb 14, 202313G/AOld format–––SEC
Breeze Holdings Acquisition Corp.Jul 12, 202213GOld format–New–SEC
SAMASchultze Special Purpose Acquisition Corp. IIDec 10, 202113GOld format–New–SEC