MMCAP International Inc. SPC

Reported holdings as of Q2 2026, from 27 quarterly filings.

CIK

1304857

Reported value

$1.2B

Positions

303

Top 10 weight

28.1%

Filed

2026-08-14

Days after quarter end

Holdings

Security	Ticker	Value	Shares	Weight	Weight change	Held	Change
ARIS MINING CORPORATION	ARIS	$101.8M	6,830,759	8.63%	-3.90pp	12q	-12.6%-$14.7M
ALGOMA STL GROUP INC	ASTL	$44.4M	10,954,738	3.76%	-0.82pp	11q	-14.7%-$7.7M
CHURCHILL CAP CORP XII		$28.8M	2,700,000	2.44%	-	new	NEW
DRUGS MADE IN AMER ACQ II CO	DMII	$27.2M	2,700,000	2.30%	-0.02pp	2q	HELD
NEXGEN ENERGY LTD	NXE	$25.3M	2,694,352	2.14%	-0.29pp	16q	+10.9%+$2.5M
CARTESIAN GROWTH CORP IV	CGCFU	$23.5M	2,350,000	1.99%	-	new	NEW
NEW PROVIDENCE ACQUISITION C	NPAC	$22.8M	2,200,000	1.94%	-0.01pp	4q	HELD
INFLECTION PT ACQUISIT CORP		$20.0M	1,931,762	1.69%	-	new	NEW
FIFTH ERA ACQUISITION CORP I	FERA	$19.8M	1,900,000	1.68%	-0.01pp	4q	HELD
TRANSALTA CORP	TAC	$18.1M	1,310,100	1.54%	-	new	NEW
FUTURECORP SPACE ACQUISITION	FTRA-UN	$17.7M	1,750,000	1.50%	-	new	NEW
MOZAYYX ACQUISITION CORP	MZYX-WT	$17.4M	1,750,000	1.48%	-	new	NEW
IDEA ACQUISITION CORP	IACOW	$17.3M	1,750,000	1.47%	-	new	NEW
INTERPRIVATE INVTS PARTNERS		$16.9M	1,700,000	1.43%	-	new	NEW
CHURCHILL CAP CORP XI	CCXI	$16.6M	950,474	1.41%	-	new	NEW
CARDIOL THERAPEUTICS INC	CRDL	$16.5M	15,598,560	1.40%	-0.39pp	19q	+1.6%+$261.0K
REPUBLIC DIGITAL ACQUISITION	RDAG	$16.2M	1,565,000	1.37%	-0.01pp	4q	HELD
LAUNCH ONE ACQUISITION CORP	LPAA	$16.0M	1,480,000	1.36%	-0.01pp	8q	HELD
CANTOR EQUITY PARTNERS IV IN	CEPF	$15.6M	1,500,000	1.32%	flat	4q	HELD
IRON HORSE ACQUISIT II CORP	IRHO	$15.0M	1,500,000	1.28%	-	new	NEW
MESHFLOW ACQUISITION CORP	MESH	$15.0M	1,500,000	1.27%	-	new	NEW
WILCO 63 CORP	WLCOU	$14.9M	1,500,000	1.27%	-	new	NEW
QDRO ACQUISITION CORP		$14.9M	1,500,000	1.26%	-	new	NEW
APTIV PLC	APTV	$14.8M	240,889	1.25%	-0.14pp	4q	+3.3%+$478.6K
INFLECTION PT ACQUISITION CO	IPCX	$14.5M	1,400,000	1.23%	-0.01pp	4q	HELD
HCM IV ACQUISITION CORP		$14.0M	1,400,000	1.19%	-	new	NEW
GP-ACT III ACQUISITION CORP	GPAT	$13.9M	1,275,000	1.17%	-0.02pp	8q	HELD
CANTOR EQUITY PARTNERS VII I	CAES	$13.6M	1,350,000	1.15%	-	new	NEW
CANTOR EQUITY PARTNERS V INC	CEPV	$12.4M	1,200,000	1.05%	flat	3q	HELD
WEN ACQUISITION CORP	WENN	$12.3M	1,200,000	1.05%	-0.01pp	4q	HELD
ALDABRA 4 LQDTY OPP VEH INC	ALOV	$11.9M	1,200,000	1.01%	-	new	NEW
GENERAL MTRS CO	GM	$11.6M	150,635	0.98%	+0.12pp	8q	+12.4%+$1.3M
CLEANCORE SOLUTIONS INC	ZONE	$11.4M	13,950,444	0.97%	+0.45pp	3q	-17.3%-$2.4M
M3-BRIGADE ACQUISITION VI CO	MBVI	$11.1M	1,100,000	0.94%	-0.01pp	3q	HELD
MERCADOLIBRE INC	MELI	$10.7M	6,298	0.91%	-	new	NEW
SILVERBOX CORP IV	SBXD	$10.6M	980,000	0.90%	-0.01pp	6q	HELD
LIONHEART HOLDINGS	CUB	$10.6M	980,000	0.89%	-0.02pp	8q	HELD
UNITED ACQUISITION CORP I	UAC	$10.4M	1,050,000	0.88%	-	new	NEW
FUTURECREST ACQUISITION CORP	FCRS	$10.3M	1,000,000	0.87%	flat	3q	HELD
HCM III ACQUISITION CORP	HCMA	$10.3M	1,000,000	0.87%	flat	3q	HELD
SEA LTD	SE	$10.2M	106,638	0.87%	-	new	NEW
STMICROELECTRONICS N V	STM	$10.2M	135,542	0.86%	-0.06pp	2q	-56.3%-$13.1M
GORES HOLDINGS XI INC	GHXIU	$10.2M	1,000,000	0.86%	-	new	NEW
TRAILBLAZER ACQUISITION CORP	BLZR	$10.1M	1,000,000	0.86%	-0.01pp	3q	HELD
AMERICAN DRIVE ACQUISITION C	ADAC	$10.0M	1,000,000	0.85%	-	new	NEW
LAUNCHPAD CADENZA ACQU CORP	LPCV	$10.0M	1,000,000	0.85%	-	new	NEW
RMG ML SPORTS HOLDINGS	SHOTU	$9.2M	925,000	0.78%	-	new	NEW
DENISON MINES CORP	DNN	$8.7M	2,857,531	0.74%	-0.13pp	23q	HELD
SNAP INC	SNAP	$8.7M	1,958,828	0.74%	-0.04pp	2q	HELD
SNOW ROTHSCHILD ACQUISITION	ISNRW	$8.5M	850,000	0.72%	-	new	NEW
ITHAX ACQUISITION CORP III	ITHA	$8.0M	800,000	0.68%	-	new	NEW
AEON ACQUISITION I CORP	AESPW	$7.9M	778,500	0.67%	-	new	NEW
SUI GROUP HOLDINGS LIMITED	SUIG	$7.8M	6,750,751	0.66%	-0.03pp	4q	+1.5%+$116.0K
PIONEER ACQUISITION I CORP	PACH	$7.7M	750,000	0.65%	-0.01pp	3q	HELD
OXLEY BRIDGE ACQ LTD	OBA	$7.7M	750,000	0.65%	-0.01pp	3q	HELD
NEWHOLD INVT CORP III	NHIC	$7.6M	700,000	0.65%	+0.47pp	4q	+250.0%+$5.4M
SILVERBOX CORP V	SBXE	$7.5M	750,000	0.64%	-	new	NEW
D BORAL ACQUISITION I CORP	DBCA	$7.5M	750,000	0.63%	-	new	NEW
AMERICAN EXCEPTIONALISM ACQU	AEXA	$7.5M	631,494	0.63%	+0.04pp	4q	HELD
GORES HLDGS X INC	GTEN	$7.3M	700,000	0.62%	flat	4q	HELD
CRANE HBR ACQUISITION CORP I	CRAN	$6.6M	650,000	0.56%	flat	2q	HELD
ANDRETTI ACQUISITION CORP II	POLE	$6.2M	580,000	0.53%	flat	6q	HELD
CO2 ENERGY TRANSITION CORP	NOEM	$6.2M	590,000	0.52%	-0.01pp	6q	HELD
1RT ACQUISITION CORP.	ONCH	$6.2M	600,000	0.52%	flat	3q	HELD
SPRING VY ACQUISITION CORP I	SVIV	$6.1M	600,000	0.52%	-	new	NEW
IRIS ACQUISITION CORP II	IRAB	$6.0M	600,000	0.51%	-	new	NEW
JUMIA TECHNOLOGIES AG	JMIA	$5.7M	811,535	0.49%	-	new	NEW
ALIBABA GROUP HLDG LTD	BABA	$5.7M	58,962	0.48%	-	new	NEW
MOSAIC CO	MOS	$5.5M	257,538	0.46%	+0.10pp	2q	+55.2%+$1.9M
LAUNCH TWO ACQUISITION CORP.	LPBB	$5.1M	480,000	0.44%	flat	6q	HELD
FIGX CAP ACQUISITION CORP.	FIGX	$5.1M	500,000	0.43%	flat	3q	HELD
MOUNTAIN LAKE ACQUISIT CORP	MLAA	$5.0M	500,000	0.42%	-	new	NEW
CAMBRIDGE ACQUISITION CORP	CAQ	$5.0M	500,000	0.42%	-	new	NEW
NEWBURY STR II ACQUISITION C	NTWO	$4.8M	450,000	0.41%	flat	6q	HELD
VERSIGENT PLC	VGNT	$4.8M	113,680	0.40%	-	new	NEW
PROFOUND MED CORP	PROF	$4.5M	671,356	0.38%	-0.04pp	7q	-9.9%-$490.7K
CANTOR EQUITY PARTNERS VI IN	CEPS	$4.1M	400,000	0.35%	flat	2q	HELD
TWELVE SEAS INVT CO III	TWLV	$4.0M	400,000	0.34%	flat	2q	HELD
BLUEROCK ACQUISITION CORP	BLRK	$4.0M	400,000	0.34%	-	new	NEW
M EVO GBL ACQUISITION CORP I	MEVO	$4.0M	400,000	0.34%	-	new	NEW
SHARPLINK INC	SBET	$3.9M	807,600	0.33%	-0.12pp	4q	HELD
AUTONATION INC	AN	$3.7M	19,718	0.31%	-	new	NEW
KEEL INFRASTRUCTURE CORP	KEEL	$3.6M	635,000	0.31%	-	new	NEW
JAB ACQUISITION CORP I	JABRW	$3.5M	350,000	0.30%	-	new	NEW
ART TECHNOLOGY ACQUISITION C	ARTC	$3.5M	352,300	0.30%	-	new	NEW
BHAV ACQUISITION CORP	BHAVR	$3.5M	350,000	0.29%	-	new	NEW
STELLANTIS N.V	STLA	$3.2M	550,000	0.27%	-	new	NEW
COLUMBUS CIRCLE CAP CORP II	CMII	$3.0M	300,000	0.26%	-	new	NEW
YORKVILLE INTL CAP CORP		$3.0M	300,000	0.26%	-	new	NEW
ARCHIMEDES TECH SPAC PTNRS I	ARCI	$3.0M	300,000	0.25%	-	new	NEW
SOCIAL COMM PARTNERS CORP	SCPQ	$3.0M	300,000	0.25%	-	new	NEW
MUZERO ACQUISITION CORP	MUZE	$3.0M	300,000	0.25%	-	new	NEW
INFLEQTION INC	INFQWS	$3.0M	430,970	0.25%	+0.09pp	2q	HELD
STELLAR V CAP CORP	SVCC	$3.0M	280,000	0.25%	flat	4q	HELD
CRONOS GROUP INC	CRON	$2.8M	999,490	0.24%	+0.02pp	10q	HELD
WORTHINGTON STL INC	WS	$2.8M	82,622	0.24%	-	new	NEW
BLUE ACQUISITION CORP.	BACC	$2.6M	250,000	0.22%	flat	4q	HELD
LIGHTWAVE ACQUISITION CORP	LWAC	$2.6M	250,000	0.22%	flat	3q	HELD
RANGE CAP ACQUISITION CORP I	RNGT	$2.5M	250,000	0.21%	flat	2q	HELD
X3 ACQUISITION CORP LTD	XCBE	$2.5M	250,000	0.21%	-	new	NEW
POLYRIZON LTD	PLRZ	$2.5M	199,470	0.21%	-	new	NEW
BLACK SPADE ACQUISITION III	BIII	$2.5M	250,000	0.21%	-	new	NEW
LEGATO MERGER CORP IV	LEGO	$2.5M	250,000	0.21%	-	new	NEW
ENCORE ENERGY CORP	EU	$2.4M	1,863,579	0.21%	-0.44pp	10q	-55.2%-$3.0M
ARCELORMITTAL SA LUXEMBOURG	MT	$2.3M	37,668	0.19%	-0.28pp	3q	-64.4%-$4.1M
ADURO CLEAN TECHNOLOGIES INC	ADUR	$2.2M	140,432	0.19%	-	new	NEW
NEW AMER ACQUISITION I CORP	NWAX	$2.1M	209,726	0.18%	-	new	NEW
BLUE WTR ACQUISITION CORP. I	BLUW	$2.1M	200,000	0.18%	flat	4q	HELD
QUANTUM X LABS INC	VBIX	$2.1M	361,573	0.17%	+0.16pp	5q	+211.7%+$1.4M
OYSTER ENTERPRISES II ACQUIS	OYSE	$2.1M	200,000	0.17%	flat	4q	HELD
SPACE ASSET ACQUISITION CORP	SAAQ	$2.0M	200,000	0.17%	-	new	NEW
CARMAX INC	KMX	$2.0M	38,498	0.17%	flat	5q	-21.8%-$569.0K
DAEDALUS SPL ACQUISITION COR	DSAC	$2.0M	200,000	0.17%	-	new	NEW
EVOLUTION GLOBAL ACQUISITION	EVOX	$2.0M	200,000	0.17%	flat	2q	HELD
CHURCHILL CAP CORP XI	CCXIW	$2.0M	270,000	0.17%	-	new	NEW
ACTIVATE ENERGY ACQUISIT COR	AEAQ	$2.0M	200,000	0.17%	-	new	NEW
BORGWARNER INC	BWA	$2.0M	30,075	0.17%	-0.16pp	11q	-57.7%-$2.7M
ZOOZ STRATEGY LTD		$1.9M	350,000	0.16%	-	new	NEW
GESHER ACQUISITION CORP. II	GSHR	$1.8M	175,000	0.15%	flat	4q	HELD
UPEXI INC	UPXI	$1.8M	2,326,777	0.15%	-0.04pp	4q	HELD
HALL CHADWICK ACQUISITION CO	HCAC	$1.8M	175,000	0.15%	-	new	NEW
FOREFRONT TECHNOLOGY HOLDING		$1.7M	175,000	0.15%	-	new	NEW
SILVER BOW MNG CORP		$1.6M	236,654	0.14%	-	new	NEW
CHENGHE ACQUISITION III CO	CHEC	$1.5M	150,000	0.13%	flat	3q	HELD
BITCOIN INFRASTRUCTURE ACQUI	BIXI	$1.5M	150,000	0.13%	flat	2q	HELD
LEAPFROG ACQUISITION CORP	LFAC	$1.5M	150,000	0.13%	-	new	NEW
EIGHTCO HOLDINGS INC	ORBS	$1.4M	2,054,795	0.12%	-0.04pp	2q	HELD
ARCHIMEDES TECH SPAC PARTNER	ATII	$1.3M	125,000	0.11%	flat	4q	HELD
STRIVE INC	ASST	$1.3M	122,480	0.11%	+0.01pp	2q	HELD
ALPHA TAU MEDICAL LTD	DRTSW	$1.3M	447,622	0.11%	+0.07pp	18q	HELD
VISTA GOLD CORP	VGZ	$1.3M	658,564	0.11%	-0.09pp	2q	-42.2%-$919.5K
WEYERHAEUSER CO	WY	$1.3M	52,492	0.11%	-0.76pp	3q	-87.2%-$8.6M
COEUR MNG INC	CDE	$1.2M	75,000	0.10%	-0.02pp	2q	HELD
FIRST SOLAR INC	FSLR	$1.1M	4,798	0.10%	+0.01pp	2q	-9.4%-$118.0K
CHURCHILL CAPITAL CORP IX	CCIX	$1.1M	100,000	0.09%	flat	8q	HELD
GREENFIRE RES LTD NEW	GFR	$1.0M	182,309	0.09%	-0.01pp	4q	HELD
PROCAP ACQUISITION CORP	PCAP	$1.0M	100,000	0.09%	flat	4q	HELD
AKARI THERAPEUTICS PLC	AKTX	$1.0M	100,000	0.09%	-	new	NEW
WILLOW LANE ACQUISITION CRP		$1.0M	100,000	0.09%	-	new	NEW
GALATA ACQUISITION CORP II	LATA	$1.0M	100,000	0.09%	flat	3q	HELD
SPARTACUS ACQUISITION CORP I		$1.0M	100,000	0.08%	-	new	NEW
HENNESSY CAP INVTS CORP VIII	HCIC	$993.0K	100,000	0.08%	-	new	NEW
INFLECTION PT ACQUISIT CORP		$940.0K	499,999	0.08%	-	new	NEW
FACTORIAL ENERGY INC		$918.0K	675,000	0.08%	-	new	NEW
STEEL DYNAMICS INC	STLD	$903.6K	3,938	0.08%	-1.07pp	4q	-94.7%-$16.1M
ALLIED GOLD CORP	AAUC	$802.0K	33,778	0.07%	-	new	NEW
TAILWIND 2.0 ACQUISITION COR	TDWD	$753.0K	75,000	0.06%	flat	3q	HELD
WESTERN COPPER & GOLD CORP	WRN	$750.9K	335,130	0.06%	-0.01pp	2q	HELD
ILLUMINATION ACQUISITIO CORP		$742.5K	75,000	0.06%	-	new	NEW
GEN DIGITAL INC	GENVR	$686.0K	542,308	0.06%	+0.04pp	5q	HELD
INFLECTION PT ACQUISITION CO	IPCXR	$630.0K	1,400,000	0.05%	+0.01pp	4q	HELD
FIFTH ERA ACQUISITION CORP I	FERAR	$627.2K	1,900,000	0.05%	flat	4q	HELD
SPACSPHERE ACQUISITION CORP	SSAC	$499.0K	50,000	0.04%	-	new	NEW
RARE EARTHS AMERICAS INC	REA	$468.1K	30,633	0.04%	-	new	NEW
CHURCHILL CAP CORP XII		$459.0K	270,000	0.04%	-	new	NEW
EVOLUTION METALS & TECH CORP	EMAT	$429.6K	65,000	0.04%	-0.01pp	2q	HELD
SPARK I ACQUISITION CORP	SPKLW	$415.6K	175,000	0.04%	+0.03pp	8q	HELD
PEABODY ENGR CORP	BTU	$406.9K	17,600	0.03%	-	new	NEW
WARRIOR MET COAL INC	HCC	$373.3K	4,600	0.03%	-	new	NEW
LIONHEART HOLDINGS	CUBWW	$366.3K	990,000	0.03%	+0.02pp	8q	HELD
OCULIS HOLDING AG	OCSAW	$365.1K	73,025	0.03%	-0.05pp	13q	HELD
URANIUM ENERGY CORP	UEC	$344.7K	32,335	0.03%	-0.01pp	18q	HELD
FORAFRIC GLOBAL PLC	AFRIW	$326.9K	518,900	0.03%	flat	17q	HELD
UNITED ACQUISITION CORP I	UACWS	$325.5K	262,500	0.03%	-	new	NEW
TERRESTRIAL ENERGY INC	IMSR	$313.5K	44,279	0.03%	flat	3q	HELD
REPUBLIC DIGITAL ACQUISITION	RDAGW	$313.0K	782,500	0.03%	flat	4q	HELD
MOZAYYX ACQUISITION CORP		$307.3K	437,500	0.03%	-	new	NEW
ISHARES ETHEREUM TR	ETHA	$297.2K	25,000	0.03%	-0.01pp	4q	HELD
CENTURION ACQUISITION CORP	ALFUW	$286.0K	1,237,500	0.02%	+0.01pp	8q	HELD
SOL STRATEGIES INC	STKE	$279.5K	236,154	0.02%	flat	4q	-5.5%-$16.4K
CHURCHILL CAPITAL CORP IX	CCIXW	$263.2K	337,500	0.02%	+0.01pp	8q	HELD
SIM ACQUISITION CORP. I	SIMAW	$249.5K	990,000	0.02%	flat	8q	HELD
TRANSLATIONAL DEV ACQUISITIO	TDACW	$249.4K	175,000	0.02%	+0.02pp	4q	HELD
BLAIZE HLDGS INC	BZAIW	$247.7K	750,000	0.02%	flat	6q	HELD
IRON HORSE ACQUISIT II CORP	IRHOR	$241.2K	1,500,000	0.02%	-	new	NEW
REZOLVE AI PLC	RZLVW	$225.0K	250,000	0.02%	flat	8q	HELD
HCM III ACQUISITION CORP	HCMAW	$216.7K	333,333	0.02%	+0.01pp	3q	HELD
DRUGS MADE IN AMER ACQ II CO	DMIIR	$216.0K	2,700,000	0.02%	flat	2q	HELD
SATELLOGIC INC	SATLW	$215.0K	166,666	0.02%	flat	5q	HELD
WEN ACQUISITION CORP	WENNW	$212.6K	600,000	0.02%	flat	4q	HELD
FUTURECREST ACQUISITION CORP	FCRSWS	$212.5K	250,000	0.02%	+0.01pp	3q	HELD
AMERICAN DRIVE ACQUISITION C	ADACW	$210.0K	333,333	0.02%	-	new	NEW
NEWHOLD INVT CORP III	NHICW	$210.0K	100,000	0.02%	+0.01pp	4q	HELD
QDRO ACQUISITION CORP		$210.0K	750,000	0.02%	-	new	NEW
NEW PROVIDENCE ACQUISITION C	NPACW	$205.3K	733,333	0.02%	+0.01pp	4q	HELD
IDEA ACQUISITION CORP		$198.3K	583,332	0.02%	-	new	NEW
GP-ACT III ACQUISITION CORP	GPATW	$197.1K	1,037,500	0.02%	flat	8q	HELD
BLUE ACQUISITION CORP.	BACCR	$195.0K	250,000	0.02%	+0.01pp	4q	HELD
ALDABRA 4 LQDTY OPP VEH INC	ALOVW	$192.0K	400,000	0.02%	-	new	NEW
HCM IV ACQUISITION CORP		$189.0K	350,000	0.02%	-	new	NEW
LAUNCH ONE ACQUISITION CORP	LPAAW	$188.2K	990,000	0.02%	flat	8q	HELD
NEW FOUND GOLD CORP	NFGC	$184.4K	119,523	0.02%	flat	4q	HELD
CRITICAL METALS CORP	CRMLW	$179.7K	50,327	0.02%	-0.02pp	10q	-52.2%-$196.5K
SPHERE 3D CORP NEW	ANY	$179.2K	64,920	0.02%	-	new	NEW
SEQUANS COMMUNICATIONS S A	SQNS	$173.6K	51,060	0.01%	+0.01pp	3q	+35.0%+$45.0K
LAUNCH TWO ACQUISITION CORP.	LPBBW	$169.1K	490,000	0.01%	+0.01pp	6q	HELD
GRAF GLOBAL CORP	GRAFWS	$157.7K	415,000	0.01%	+0.01pp	8q	HELD
MESHFLOW ACQUISITION CORP	MESHW	$150.0K	500,000	0.01%	-	new	NEW
M3-BRIGADE ACQUISITION VI CO	MBVIW	$146.7K	366,666	0.01%	flat	3q	HELD
SPRING VY ACQUISITION CORP I	SVIVW	$146.4K	150,000	0.01%	-	new	NEW
CRANE HBR ACQUISITION CORP I	CRANR	$146.1K	650,000	0.01%	flat	2q	HELD
D BORAL ACQUISITION I CORP	DBCAW	$142.5K	375,000	0.01%	-	new	NEW
ARCHIMEDES TECH SPAC PARTNER	ATIIW	$136.9K	62,500	0.01%	+0.01pp	4q	HELD
TRAILBLAZER ACQUISITION CORP	BLZRW	$133.3K	333,333	0.01%	flat	3q	HELD
COLUMBUS CIRCLE CAP CORP II	CMIIW	$132.0K	99,999	0.01%	-	new	NEW
LAUNCHPAD CADENZA ACQU CORP	LPCVW	$130.0K	333,333	0.01%	-	new	NEW
GORES HLDGS X INC	GTENW	$129.5K	175,000	0.01%	flat	4q	HELD
M3BRIGADE ACQUISITION V CORP	VLOSW	$129.4K	349,671	0.01%	flat	5q	HELD
ALLIANCE ENTERTAINMENT HOLDI	AENTW	$126.6K	294,000	0.01%	flat	13q	HELD
SILVERBOX CORP V	SBXEWS	$120.0K	250,000	0.01%	-	new	NEW
CO2 ENERGY TRANSITION CORP	NOEMR	$106.2K	590,000	0.01%	flat	6q	HELD
ITHAX ACQUISITION CORP III	ITHAW	$96.0K	400,000	0.01%	-	new	NEW
FACTORIAL ENERGY INC	FACWW	$87.9K	7,930	0.01%	-	new	NEW
OXLEY BRIDGE ACQ LTD	OBAWW	$81.2K	375,000	0.01%	flat	3q	HELD
PIONEER ACQUISITION I CORP	PACHW	$80.9K	375,000	0.01%	flat	3q	HELD
BHAV ACQUISITION CORP		$80.5K	350,000	0.01%	-	new	NEW
1RT ACQUISITION CORP.	ONCHW	$76.3K	150,000	0.01%	flat	3q	HELD
SBC MED GROUP HLDGS INC	SBCWW	$75.9K	330,000	0.01%	flat	7q	HELD
IRIS ACQUISITION CORP II	IRABWS	$75.0K	300,000	0.01%	-	new	NEW
M EVO GBL ACQUISITION CORP I	MEVOW	$74.2K	200,000	0.01%	-	new	NEW
CO2 ENERGY TRANSITION CORP	NOEMW	$72.5K	590,000	0.01%	flat	6q	HELD
JACKSON ACQUISITION CO II	JACSRT	$70.1K	500,000	0.01%	flat	6q	HELD
FIGX CAP ACQUISITION CORP.	FIGXW	$70.0K	250,000	0.01%	flat	3q	HELD
MOUNTAIN LAKE ACQUISIT CORP	MLAAW	$67.5K	250,000	0.01%	-	new	NEW
SOCIAL COMM PARTNERS CORP	SCPQW	$66.3K	150,000	0.01%	-	new	NEW
NEW AMER ACQUISITION I CORP	NWAXWS	$62.9K	104,863	0.01%	-	new	NEW
ANDRETTI ACQUISITION CORP II	POLEW	$60.9K	290,000	0.01%	flat	6q	HELD
BLUEROCK ACQUISITION CORP	BLRKW	$60.0K	133,332	0.01%	-	new	NEW
SPACE ASSET ACQUISITION CORP	SAAQW	$60.0K	66,666	0.01%	-	new	NEW
TWELVE SEAS INVT CO III	TWLVR	$57.2K	400,000	0.00%	flat	2q	HELD
ARCHIMEDES TECH SPAC PTNRS I	ARCIW	$56.2K	75,000	0.00%	-	new	NEW
NEWBURY STR II ACQUISITION C	NTWOW	$55.7K	225,000	0.00%	flat	6q	HELD
SILVERBOX CORP IV	SBXDWS	$52.3K	326,666	0.00%	flat	6q	HELD
HALL CHADWICK ACQUISITION CO	HCACR	$50.8K	175,000	0.00%	-	new	NEW
CAMBRIDGE ACQUISITION CORP	CAQUW	$50.0K	166,666	0.00%	-	new	NEW
FOREFRONT TECHNOLOGY HOLDING		$47.7K	87,500	0.00%	-	new	NEW
BITFUFU INC	FUFUW	$46.2K	330,000	0.00%	flat	10q	HELD
MUZERO ACQUISITION CORP	MUZEW	$45.6K	150,000	0.00%	-	new	NEW
RANGE CAP ACQUISITION CORP I	RNGTW	$42.5K	125,000	0.00%	flat	2q	HELD
EVOLUTION GLOBAL ACQUISITION	EVOXW	$39.5K	100,000	0.00%	flat	2q	HELD
STELLAR V CAP CORP	SVCCW	$39.2K	140,000	0.00%	flat	4q	HELD
LIGHTWAVE ACQUISITION CORP	LWACW	$38.7K	125,000	0.00%	flat	3q	HELD
BLUE WTR ACQUISITION CORP. I	BLUWW	$38.0K	100,000	0.00%	flat	4q	HELD
TEVOGEN BIO HLDGS INC	TVGNW	$36.9K	650,000	0.00%	flat	10q	HELD
FUSEMACHINES INC	FUSE	$36.8K	35,000	0.00%	flat	3q	HELD
ART TECHNOLOGY ACQUISITION C	ARTCW	$34.8K	88,075	0.00%	-	new	NEW
LEGATO MERGER CORP IV	LEGOWS	$34.7K	83,333	0.00%	-	new	NEW
X3 ACQUISITION CORP LTD	XCBEW	$33.8K	125,000	0.00%	-	new	NEW
BLACK SPADE ACQUISITION III	BIIIWS	$33.3K	83,332	0.00%	-	new	NEW
ACTIVATE ENERGY ACQUISIT COR	AEAQW	$33.0K	100,000	0.00%	-	new	NEW
ALPS GROUP INC	ALPS	$31.3K	54,000	0.00%	flat	3q	HELD
EINRIDE AB		$30.0K	50,000	0.00%	-	new	NEW
ROADZEN INC	RDZNW	$29.6K	150,000	0.00%	flat	12q	HELD
ANFIELD ENERGY INC	AEC	$28.7K	6,787	0.00%	flat	4q	HELD
LIFEZONE METALS LIMITED	LZMWS	$28.6K	69,810	0.00%	flat	12q	HELD
DRAGONFLY ENERGY HOLDINGS CO	DFLIW	$27.7K	675,000	0.00%	flat	15q	HELD
LEAPFROG ACQUISITION CORP	LFACW	$27.0K	75,000	0.00%	-	new	NEW
DAEDALUS SPL ACQUISITION COR	DSACW	$26.0K	50,000	0.00%	-	new	NEW
GESHER ACQUISITION CORP. II	GSHRW	$25.2K	87,500	0.00%	flat	4q	HELD
BITCOIN INFRASTRUCTURE ACQUI	BIXIW	$23.7K	75,000	0.00%	flat	2q	HELD
WILLOW LANE ACQUISITION CRP		$22.2K	25,000	0.00%	-	new	NEW
OYSTER ENTERPRISES II ACQUIS	OYSER	$22.0K	200,000	0.00%	flat	4q	HELD
BEST SPAC I ACQUISITION CORP	BSAAR	$20.7K	125,000	0.00%	flat	4q	HELD
EON RESOURCES INC	EONRWS	$19.7K	257,500	0.00%	flat	7q	HELD
SPARTACUS ACQUISITION CORP I		$18.0K	33,333	0.00%	-	new	NEW
FOLD HLDGS INC	FLDDW	$17.9K	175,000	0.00%	flat	6q	HELD
HENNESSY CAP INVTS CORP VIII	HCICR	$16.1K	100,000	0.00%	-	new	NEW
CHENGHE ACQUISITION III CO	CHECW	$15.4K	75,000	0.00%	flat	3q	HELD
VSEE HEALTH INC	VSEEW	$15.2K	500,000	0.00%	flat	9q	HELD
ALPHA MODUS HLDGS INC	AMODW	$15.1K	588,000	0.00%	flat	7q	HELD
HUB CYBER SECURITY LTD	HUBCW	$14.8K	898,991	0.00%	flat	13q	HELD
PSYENCE BIOMEDICAL LTD	PBMWW	$14.6K	600,000	0.00%	flat	10q	HELD
OMNIAB INC	OABIW	$14.0K	158,333	0.00%	flat	15q	HELD
VERAXA BIOTECH AG		$13.8K	125,000	0.00%	-	new	NEW
FOXX DEV HLDGS INC	FOXXW	$12.7K	160,000	0.00%	flat	7q	HELD
ILLUMINATION ACQUISITIO CORP		$12.0K	25,000	0.00%	-	new	NEW
GALATA ACQUISITION CORP II	LATAW	$11.7K	33,333	0.00%	flat	3q	HELD
NAUTICUS ROBOTICS INC	KITTW	$11.5K	500,000	0.00%	flat	16q	HELD
CDT EQUITY INC	CDTTW	$11.5K	700,000	0.00%	flat	12q	HELD
NEWGENIVF GROUP LIMITED	NIVFW	$11.2K	375,000	0.00%	flat	9q	HELD
PROCAP ACQUISITION CORP	PCAPW	$10.7K	33,333	0.00%	flat	4q	HELD
FUSEMACHINES INC	FUSEW	$10.5K	175,000	0.00%	flat	3q	HELD
TAILWIND 2.0 ACQUISITION COR	TDWDR	$9.4K	75,000	0.00%	flat	3q	HELD
OIO GROUP	OIOWW	$8.7K	154,750	0.00%	-	new	NEW
CYCURION INC	CYCUW	$8.5K	500,000	0.00%	flat	17q	HELD
LIMINATUS PHARMA INC.	LIMNW	$8.4K	111,745	0.00%	flat	5q	HELD
BENEFICIENT	BENFW	$8.1K	750,000	0.00%	flat	13q	HELD
ZEO ENERGY CORP	ZEOWW	$7.5K	195,575	0.00%	flat	10q	HELD
SPACSPHERE ACQUISITION CORP	SSACR	$7.5K	50,000	0.00%	-	new	NEW
MURANO GLOBAL INVT PLC	MRNOW	$7.5K	500,000	0.00%	flat	10q	HELD
VALENS SEMICONDUCTOR LTD	VLNWF	$6.0K	214,067	0.00%	flat	20q	HELD
MULTISENSOR AI HOLDINGS INC	MSAIW	$5.1K	175,250	0.00%	flat	11q	HELD
APOLLOMICS INC	APLMW	$5.0K	250,000	0.00%	flat	14q	HELD
BANZAI INTERNATIONAL INC	BNZIW	$3.5K	352,409	0.00%	flat	11q	HELD
SPACSPHERE ACQUISITION CORP	SSACW	$3.1K	25,000	0.00%	-	new	NEW
KEEN VISION ACQUISITION CORP	KVACW	$3.0K	150,000	0.00%	flat	12q	HELD
SMX SEC MATTERS PLC	SMXWW	$2.7K	125,000	0.00%	flat	14q	HELD
KIDZ AI INC	KIDZW	$2.4K	187,500	0.00%	flat	5q	HELD
GIBO HOLDINGS LTD.	GIBOW	$2.0K	125,000	0.00%	flat	5q	HELD
CID HOLDCO INC	DAICW	$1.2K	100,000	0.00%	flat	5q	HELD
BLUE GOLD LTD	BGLWW	$1.2K	12,500	0.00%	flat	5q	HELD
CEA INDUSTRIES INC	BNCWW	$52	742,575	0.00%	flat	2q	HELD
Jet.AI Inc	JTAI	$49	6	0.00%	-	new	NEW

By sector

Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.

Sector	Value	Share
Holding & Investment	$491.8M	41.7%
Mining & Metals	$194.1M	16.5%
Business Services	$41.9M	3.6%
Autos & Aerospace	$36.3M	3.1%
Industrials	$24.2M	2.1%
Biotech & Pharma	$20.8M	1.8%
Banks & Lending	$20.5M	1.7%
Chemicals	$19.1M	1.6%
Utilities	$18.1M	1.5%
Other sectors	$48.2M	4.1%
Not classified	$264.6M	22.4%

Quarter by quarter

Quarter	Value	Positions	New	Added	Trimmed	Exited	Top 10	Days to file
Q2 2026	$1.2B	303	124	9	15	65	28.1%	45
Q1 2026	$1.2B	244	56	12	14	20	35.3%	45
Q4 2025	$1.0B	208	59	11	20	23	44.1%	40
Q3 2025	$859.8M	172	64	8	10	36	43.9%	41
Q2 2025	$831.4M	144	36	5	18	23	54.2%	37
Q1 2025	$586.8M	131	33	7	11	41	62.6%	42
Q4 2024	$664.9M	139	22	5	18	48	61.0%	35
Q3 2024	$719.0M	165	37	6	20	52	67.3%	43
Q2 2024	$719.2M	180	22	11	11	27	66.3%	44
Q1 2024	$768.2M	185	24	12	7	32	74.5%	39
Q4 2023	$546.1M	193	30	4	6	33	82.2%	43
Q3 2023	$348.3M	196	26	3	7	41	85.8%	44
Q2 2023	$303.8M	211	16	2	6	70	66.2%	45
Q1 2023	$508.6M	265	21	5	4	132	42.1%	41
Q4 2022	$986.2M	376	19	4	11	112	23.0%	40
Q3 2022	$1.3B	469	22	4	12	32	18.4%	41
Q2 2022	$1.2B	479	45	5	57	79	16.0%	43
Q1 2022	$1.7B	513	178	19	44	99	12.9%	41
Q4 2021	$1.6B	434	161	5	80	150	13.4%	40
Q3 2021	$1.4B	423	82	4	37	78	15.0%	41
Q2 2021	$2.1B	419	237	7	16	139	54.6%	43
Q1 2021	$1.0B	321	281	3	22	88	19.8%	104
Q4 2020	$514.8M	128	108	1	8	51	24.7%	47
Q3 2020	$390.8M	71	49	1	12	27	48.7%	44
Q2 2020	$274.3M	49	22	10	7	15	80.2%	45
Q1 2020	$94.2M	42	28	3	8	22	85.7%	44
Q4 2019	$294.9M	36	0	0	0	0	75.0%	45

Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.

Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.

Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.