# Terrapin Asset Management, LLC

> Institutional holdings reported to the SEC as of Q3 2023 on Form 13F. CIK 1965645. Source: https://holderbook.com/funds/1965645-terrapin-asset-management-llc/

- Reported value: $87.8M
- Positions: 44
- Weight of the ten largest: 68.0%
- Filed: 2023-11-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| SEAGEN INC | [SGEN](https://holderbook.com/stocks/SGEN/) | $11.6M | 14,000 | 13.3% | 1 |
| ISHARES TR | [TLT](https://holderbook.com/stocks/TLT/) | $8.0M | 90,000 | 9.1% | 2 |
| ZOETIS INC | [ZTS](https://holderbook.com/stocks/ZTS/) | $7.0M | 17,500 | 8.0% | 3 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $6.5M | 49,300 | 7.3% | 2 |
| SCREAMING EAGLE ACQUISITN CO | [SCRM](https://holderbook.com/stocks/SCRM/) | $6.3M | 599,622 | 7.1% | 4 |
| SELECT SECTOR SPDR TR | [XLE](https://holderbook.com/stocks/XLE/) | $4.5M | 50,000 | 5.1% | 2 |
| CARLYLE CREDIT INCOME FUND | [CCIF](https://holderbook.com/stocks/CCIF/) | $4.3M | 530,867 | 4.9% | 3 |
| LIONS GATE ENTMNT CORP | [LGFB](https://holderbook.com/stocks/LGFB/) | $4.1M | 520,180 | 4.7% | 4 |
| SCULPTOR CAP MGMT | [SCU](https://holderbook.com/stocks/SCU/) | $3.7M | 321,180 | 4.2% | 3 |
| BRIDGETOWN HOLDINGS LTD | [BTWN](https://holderbook.com/stocks/BTWN/) | $3.7M | 353,460 | 4.2% | 4 |
| FIRST HORIZON CORPORATION | [FHN](https://holderbook.com/stocks/FHN/) | $2.3M | 211,800 | 2.7% | 4 |
| BERKELEY LTS INC | [CELL](https://holderbook.com/stocks/CELL/) | $2.1M | 2,109,863 | 2.4% | 1 |
| MECHANICS BANCORP | [MCHB](https://holderbook.com/stocks/MCHB/) | $1.9M | 247,225 | 2.2% | 1 |
| CITIZENS FINL SVCS INC | [CZFS](https://holderbook.com/stocks/CZFS/) | $1.8M | 37,460 | 2.0% | 2 |
| INFLECTION PT ACQUISITN CRP | [IPXX](https://holderbook.com/stocks/IPXX/) | $1.7M | 166,570 | 1.9% | 1 |
| GLOBUS MED INC | [GMED](https://holderbook.com/stocks/GMED/) | $1.7M | 33,487 | 1.9% | 2 |
| SILICON MOTION TECHNOLOGY CO | [SIMO](https://holderbook.com/stocks/SIMO/) | $1.5M | 14,609 | 1.7% | 1 |
| SPECTRUM BRANDS HOLDINGS INC | [SPB](https://holderbook.com/stocks/SPB/) | $1.4M | 17,374 | 1.6% | 3 |
| TORTOISEECOFIN ACQUISITION C | [TRTLF](https://holderbook.com/stocks/TRTLF/) | $1.3M | 123,793 | 1.5% | 4 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $1.2M | 14,000 | 1.3% | 4 |
| FEUTUNE LIGHT ACQUISITION CO | [FLFVU](https://holderbook.com/stocks/FLFVU/) | $1.1M | 100,000 | 1.2% | 4 |
| ANDRETTI ACQUISITION CORP | [WNNR](https://holderbook.com/stocks/WNNR/) | $1.1M | 100,000 | 1.2% | 1 |
| ALTITUDE ACQUISITION CORP | [ALTU](https://holderbook.com/stocks/ALTU/) | $875.6K | 86,269 | 1.0% | 4 |
| AVROBIO INC | [AVRO](https://holderbook.com/stocks/AVRO/) | $860.5K | 558,787 | 1.0% | 1 |
| TENX KEANE ACQUISITION | [TENK](https://holderbook.com/stocks/TENK/) | $807.8K | 75,000 | 0.9% | 4 |
| MAXLINEAR INC | [MXL](https://holderbook.com/stocks/MXL/) | $688.0K | 16,921 | 0.8% | 1 |
| INTERCEPT PHARMACEUTICALS IN | [ICPT](https://holderbook.com/stocks/ICPT/) | $665.6K | 0 | 0.8% | 1 |
| MONTEREY CAP ACQUISITION COR | [MCAC](https://holderbook.com/stocks/MCAC/) | $638.4K | 60,000 | 0.7% | 4 |
| NCL CORP LTD | - | $580.0K | 500,000 | 0.7% | 4 |
| ALPHATIME ACQUISITION CORP | [ATMCU](https://holderbook.com/stocks/ATMCU/) | $538.2K | 50,000 | 0.6% | 4 |
| AQUARON ACQUISITION CORP | [AQUC](https://holderbook.com/stocks/AQUC/) | $535.5K | 50,000 | 0.6% | 2 |
| CETUS CAP ACQUISITION CORP | [CETUU](https://holderbook.com/stocks/CETUU/) | $426.4K | 40,000 | 0.5% | 3 |
| PONO CAP TWO INC | [PTWOU](https://holderbook.com/stocks/PTWOU/) | $341.8K | 32,000 | 0.4% | 4 |
| BELLEVUE LIFE SCNCS AQSTN CO | [BLACU](https://holderbook.com/stocks/BLACU/) | $322.9K | 30,000 | 0.4% | 3 |
| PONO CAP THREE INC | [PTHRU](https://holderbook.com/stocks/PTHRU/) | $318.3K | 30,000 | 0.4% | 3 |
| ISHARES TR | [PFF](https://holderbook.com/stocks/PFF/) | $301.5K | 10,000 | 0.3% | 2 |
| METAL SKY STAR ACQUISITION C | [MSSAU](https://holderbook.com/stocks/MSSAU/) | $219.2K | 20,000 | 0.2% | 4 |
| MARS ACQUISITION CORP | [MARXU](https://holderbook.com/stocks/MARXU/) | $215.5K | 20,000 | 0.2% | 3 |
| GOLDEN ARROW MERGER CORP | [GAMCU](https://holderbook.com/stocks/GAMCU/) | $206.8K | 20,000 | 0.2% | 4 |
| OSIRIS ACQUISITION CORP | [OSIU](https://holderbook.com/stocks/OSIU/) | $206.8K | 20,000 | 0.2% | 4 |
| FOUR LEAF ACQUISITION CORP | [FORLU](https://holderbook.com/stocks/FORLU/) | $184.3K | 17,500 | 0.2% | 3 |
| INNOVATE CORP | [VATE](https://holderbook.com/stocks/VATE/) | $134.4K | 82,955 | 0.2% | 4 |
| DANIMER SCIENTIFIC INC | [DNMRXXXX](https://holderbook.com/stocks/DNMRXXXX/) | $47.6K | 23,000 | 0.1% | 2 |
| TENX KEANE ACQUISITION | [TENKR](https://holderbook.com/stocks/TENKR/) | $17.9K | 75,000 | 0.0% | 4 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q3 2023 | -1.9% | -3.6% | +1.7% | 81% |
| Q2 2023 | -1.0% | +8.3% | -9.2% | 79% |
| Q1 2023 | +2.3% | +7.0% | -4.7% | 67% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q3 2023 | $87.8M | 44 |
| Q2 2023 | $77.3M | 65 |
| Q1 2023 | $76.9M | 98 |
| Q4 2022 | $97.6M | 264 |