Bulldog Investors, LLP
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Bulldog Investors, LLP reported 125 stock positions worth $393.5 million. Its top holding was SRH Total Return Fund (STEW) at 5.0% of the portfolio, followed by General American Investors (GAM, 4.9%) and Central Securities (CET, 4.5%). Compared with Q1 2025, it opened 50 new positions, sold out of 26, added to 22 and reduced 36. The biggest buy was Central Securities (CET, shares +44%) and the biggest sale an exit from BNYM Municipal Income (DMF).
- Most Recent 13F
- Q2 2026
- Location
- SADDLE BROOK, NJ
- CIK
- 0001504304
- Portfolio Value
- $393.5M (Q2 2025)
- SEC Filing
- 0001398344-25-015654 ↗ filed Aug 14, 2025
Holdings Value
Holdings 125 stocks · $393.5M
| STEW SRH Total Return Fund Inc. | 5.02% | 1,117,582 | $19.8M | Reduce -8.0% |
| GAM General American Investors | 4.87% | 342,110 | $19.2M | No change |
| CET Central Securities Corp. | 4.48% | 368,084 | $17.6M | Add +43.7% |
| NBXG Neuberger Next Generation Co. | 4.21% | 1,134,288 | $16.6M | Add +26.3% |
| CION Cion Investment Corp. | 3.74% | 1,538,071 | $14.7M | Reduce -9.2% |
| DSM BNYM Strat Muni BND filed as BNY MELLON STRATEGIC MUN BD | 3.70% | 2,596,631 | $14.5M | Add +2.7% |
| TRC Tejon Ranch Co. | 3.41% | 789,999 | $13.4M | Add +49.1% |
| AFB Allianceberstein NTL Muni | 3.05% | 1,164,190 | $12.0M | Add +6.9% |
| CNNE Cannae Holdings Inc. | 2.87% | 540,987 | $11.3M | Add +42.0% |
| RWAY Runway Growth Finance Corp. | 2.84% | 1,040,313 | $11.2M | Add +30.8% |
| TPL Texas Pacific Land Corp. | 2.39% | 8,900 | $9.4M | Add +11.3% |
| XCMUX MFS High Yield Municipal TR | 2.26% | 2,671,037 | $8.9M | Add +1.7% |
| IIF Morgan Stanley India Invest | 2.14% | 297,889 | $8.4M | Add +4.2% |
| XGDVX Gabelli Dividend & Income TR | 1.99% | 301,028 | $7.8M | Reduce -0.1% |
| DRDB Roman DBDR Acquisition Corp. | 1.80% | 688,537 | $7.1M | Reduce -3.0% |
| CXH MFS Investment Grade Muni | 1.74% | 895,891 | $6.8M | Add +4.3% |
| GF The New Germany Fund Inc. | 1.50% | 493,479 | $5.9M | Add +10.5% |
| ARES ACQUISITION CORP II | 1.38% | 479,272 | $5.4M | Reduce -4.0% |
| LPAA Launch One Acquisition Corp. | 1.36% | 514,888 | $5.4M | Reduce -5.5% |
| CUB Lionheart Holdings Class A | 1.29% | 484,947 | $5.1M | Reduce -5.5% |
| XENWX Eaton Vance New York Municip | 1.23% | 522,790 | $4.9M | Reduce -3.6% |
| ALX Alexander's Inc. | 1.20% | 21,041 | $4.7M | New |
| BTX BlackRock Tech & Priv Eqty | 1.14% | 610,207 | $4.5M | Add +23.9% |
| LRFC Logan Ridge Finance Corp. | 1.13% | 233,549 | $4.4M | Reduce -2.8% |
| SIMA Sim Acquisition Corp. I-A | 1.11% | 420,798 | $4.4M | Reduce -3.7% |
| JACS Jackson Acquisition Co. Class A | 1.09% | 416,526 | $4.3M | Reduce -2.7% |
| FTW Eqv Ventures Acquisition C-A | 1.07% | 402,200 | $4.2M | No change |
| CCAP Crescent Capital BDC Inc. | 1.04% | 290,383 | $4.1M | New |
| PGZ Principal Real Estate Income | 0.99% | 370,896 | $3.9M | Add +0.4% |
| ALF Centurion Acquisition Corp. | 0.98% | 367,124 | $3.9M | Reduce -6.8% |
| HDRN Hadron Energy Inc. filed as GIGCAPITAL7 CORP | 0.94% | 358,013 | $3.7M | No change |
| VLOS Velos Acquisition I Corp. filed as M3BRIGADE ACQUISITION V CORP | 0.94% | 328,964 | $3.7M | Reduce -48.4% |
| LEO BNY Mellon Strategic Muni | 0.92% | 613,504 | $3.6M | New |
| GDL GDL Fund | 0.87% | 411,344 | $3.4M | Add +11.9% |
| DMA Destra Multi-Alternative | 0.86% | 388,569 | $3.4M | Reduce -1.1% |
| BEAG Bold Eagle Acquisition Cor-A | 0.85% | 319,116 | $3.3M | Add +219.1% |
| LPBB Launch Two Acquisition Class A | 0.82% | 309,534 | $3.2M | Add +49.9% |
| ECF Ellsworth Growth and Income | 0.81% | 312,463 | $3.2M | No change |
| SBXDF Silverbox Corp. IV-A | 0.78% | 281,497 | $3.1M | Reduce -9.2% |
| DYNC Dynamix Corp. | 0.77% | 298,609 | $3.0M | No change |
| BACCU Blue Acquisition Corp. | 0.72% | 283,195 | $2.8M | New |
| POLE Andretti Acquisition Corp. Class A | 0.70% | 266,771 | $2.8M | Reduce -10.6% |
| RANG Range Capital Acquisition Co. | 0.70% | 269,037 | $2.7M | Reduce -8.8% |
| BCIC BCP Investment Corp. filed as PORTMAN RIDGE FIN CORP | 0.69% | 216,546 | $2.7M | No change |
| CCCXU Churchill Capital Corp. X | 0.65% | 250,000 | $2.6M | New |
| TONT Graf Global Corp. Class A | 0.65% | 244,032 | $2.6M | Reduce -10.4% |
| KTF DWS Municipal Income Trust | 0.64% | 286,928 | $2.5M | Reduce -6.3% |
| CHAC Crane Harbor Acqu Corp. Class A | 0.64% | 250,000 | $2.5M | New |
| OYSEU Oyster Enterprises II Acquis | 0.62% | 241,792 | $2.4M | New |
| SOUL Soulpower Acquisition Co. Class A | 0.60% | 236,023 | $2.4M | New |
| TAVI Tavia Acquisition Corp. | 0.57% | 219,735 | $2.3M | Reduce -5.5% |
| VLGEA Village Super Market Class A | 0.52% | 53,257 | $2.1M | New |
| LWACU Lightwave Acquisition Corp. | 0.52% | 202,719 | $2.0M | New |
| CCAQ Collective Acquisition Corp. filed as DUNE ACQUISITION CORP II | 0.51% | 200,000 | $2.0M | New |
| FACT Fact II Acquisition Corp. | 0.51% | 194,000 | $2.0M | No change |
| BBDC Barings BDC Inc. | 0.49% | 210,501 | $1.9M | New |
| BLUWU Blue Water Acquisition III filed as BLUE WTR ACQUISITION CORP. I | 0.47% | 185,172 | $1.9M | New |
| TYG Tortoise Energy Infrastruct | 0.46% | 41,199 | $1.8M | Reduce -67.7% |
| DMB BNY Mellon Muni BND Infra | 0.45% | 173,211 | $1.8M | New |
| NSLR Neostellar Capital Corp. filed as SURO CAPITAL CORP | 0.42% | 202,153 | $1.7M | Reduce -12.5% |
| XPMAX Pioneer Municipal High Inc. | 0.41% | 194,697 | $1.6M | New |
| ZTR Virtus Total Return Fund Inc. | 0.41% | 257,181 | $1.6M | Add +83.9% |
| CXE MFS High Income Municipal TR | 0.40% | 443,631 | $1.6M | Add +99.0% |
| TACHU Titan Acquisition Corp. | 0.40% | 151,250 | $1.6M | New |
| NETD Nabors Energy Transition C-A | 0.40% | 140,551 | $1.6M | Reduce -15.8% |
| LEGT Legato Merger Corp. III | 0.39% | 142,704 | $1.5M | Reduce -19.9% |
| GLO Clough Global Opportunities | 0.35% | 254,583 | $1.4M | No change |
| DTSQ DT Cloud Star Acquisition Co. | 0.35% | 130,956 | $1.4M | No change |
| XMHIX Pioneer Muni High Inc. TR | 0.34% | 147,970 | $1.4M | New |
| SZZLU Sizzle Acquisition Corp. II | 0.34% | 131,501 | $1.4M | New |
| IHD Voya Emrg MRKT Hi DVD Eqty | 0.33% | 215,590 | $1.3M | New |
| IMSR Terrestrial Energy Inc. filed as HCM II ACQUISITION CORP | 0.32% | 113,348 | $1.3M | Reduce -58.9% |
| NXDT Nexpoint Diversified Real Es | 0.30% | 278,800 | $1.2M | Add +5.4% |
| SOUL.U Soulpower Acquisition Corp. | 0.28% | 108,043 | $1.1M | New |
| OFS Ofs Capital Corp. | 0.27% | 127,191 | $1.1M | Reduce -30.3% |
| MXE Mexico Equity and Income FD | 0.27% | 101,158 | $1.1M | No change |
| CRAQU Cal Redwood Acquisition Corp. | 0.26% | 100,000 | $1.0M | New |
| XRPNU Armada Acquisition Corp. II | 0.26% | 100,000 | $1.0M | New |
| CHPGU Championsgate Acquisition Co. | 0.26% | 100,000 | $1.0M | New |
| NHIC Newhold Investment Cor III-A | 0.26% | 100,000 | $1.0M | Reduce -1.0% |
| COPL Copley Acquisition Corp. Class A | 0.26% | 100,000 | $1.0M | New |
| PELI Pelican Acquisition Corp. | 0.25% | 100,000 | $1.0M | New |
| ICMB Investcorp Credit Management | 0.25% | 358,471 | $999K | Add +69.6% |
| PFX Phenixfin Corp. | 0.25% | 19,218 | $973K | No change |
| IBAC Ib Acquisition Corp. | 0.24% | 91,687 | $957K | Reduce -40.2% |
| XMIOX Pioneer Muni High Inc. Opp | 0.24% | 80,353 | $948K | New |
| HHH Howard Hughes Holdings Inc. | 0.21% | 12,000 | $810K | No change |
| DMAA Drugs Made in America Acquis | 0.19% | 72,964 | $744K | New |
| TACOU Berto Acquisition Corp. | 0.19% | 69,163 | $741K | New |
| WENNU Wen Acquisition Corp. | 0.19% | 70,000 | $740K | New |
| JOF Japan Smaller Capitalization | 0.19% | 76,638 | $739K | New |
| MRLN Merlin Inc. filed as BLEICHROEDER ACQUISITION COR | 0.18% | 68,924 | $711K | Add +76.6% |
| OTF Blue Owl Technology Finance | 0.18% | 46,373 | $707K | New |
| FERAU Fifth Era Acquisition Corp. I | 0.18% | 67,179 | $699K | Reduce -45.7% |
| SWZ Total Return Securities Fund | 0.17% | 106,902 | $678K | Reduce -55.0% |
| FACTU Fact II Acquisition Corp. | 0.17% | 66,091 | $677K | Reduce -7.0% |
| ALDF Aldel Financial II Inc. | 0.16% | 61,578 | $646K | Reduce -21.1% |
| CCAQU Dune Acquisition Corp. II | 0.16% | 61,746 | $630K | New |
| BSAAU Best Spac I Acquisition Corp. | 0.15% | 60,000 | $602K | New |
| DMAAU Drugs Made in America Acquis | 0.15% | 57,300 | $591K | Reduce -56.0% |
| M Macy's Inc. | 0.15% | 50,000 | $583K | No change |
| PACHU Pioneer Acquisition I Corp. | 0.14% | 55,000 | $550K | New |
| XIAEX Voya Asia Pac Hi DVD Eq Inc. | 0.14% | 77,493 | $546K | New |
| SPAQ Horizon Kinetics Spac Active | 0.14% | 5,200 | $545K | No change |
| RDAGU Republic Digital Acquisition | 0.14% | 50,000 | $535K | New |
| FRNM Freenome Inc. filed as PERCEPTIVE CAP SOLUTIONS COR | 0.14% | 50,000 | $531K | No change |
| EGHAU Egh Acquisition Corp. | 0.13% | 50,000 | $510K | New |
| SZZL Sizzle Acquisition Corp. Class A | 0.13% | 50,600 | $509K | New |
| WTGUU Wintergreen Acquisition Corp. | 0.13% | 50,000 | $505K | New |
| CEPT Cantor Equity Partners Class A | 0.12% | 41,319 | $456K | New |
| CCIX Churchill Capital Corp. Ix | 0.11% | 41,730 | $439K | Reduce -63.4% |
| XHNWX Pioneer Diversified High | 0.11% | 34,644 | $433K | New |
| FIGXU Figx Capital Acquisition Cor | 0.10% | 38,109 | $382K | New |
| LMNR Limoneira Co. | 0.08% | 20,000 | $313K | No change |
| MAYWOOD ACQUISITION CORP | 0.08% | 30,713 | $308K | Reduce -64.5% |
| OBAWU Oxley Bridge Acquisition Ltd. | 0.06% | 25,000 | $250K | New |
| PBBK PB Bankshares Inc. | 0.06% | 13,863 | $245K | New |
| IPEX Inflection Point Acquisition filed as MAYWOOD ACQUISITION CORP | 0.06% | 23,035 | $233K | New |
| MCGAU Yorkville Acquisition Corp. | 0.06% | 20,000 | $225K | New |
| CEE Central and Eastern Europe F | 0.05% | 13,374 | $208K | New |
| FERA Fifth Era Acquisition Corp. Class A | 0.05% | 20,247 | $206K | New |
| AXINU Axiom Intelligence Acquisiti | 0.05% | 18,000 | $182K | New |
| OACC Oaktree Acquisition Corp. I-A | 0.04% | 13,500 | $141K | No change |
| PCF High Income Securities Fund | 0.02% | 10,705 | $68K | New |
| HFRO Highland Opport & Income | 0.01% | 10,715 | $56K | Reduce -0.0% |
Other holdings (46): bonds, preferreds, convertibles and warrants · $2.1M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| VLOSW M3-Brigade Acquisition -30 | *W EXP 99/99/999 | 173,094 | $312K | Reduce -25.1% |
| DRDBW Roman DBDR Acquisition -30 | *W EXP 10/31/203 | 343,751 | $172K | Add +38.9% |
| Colombier Acquisition - 29 | *W EXP 11/24/202 | 39,213 | $147K | Reduce -40.9% |
| EQV VENTURES ACQUISITION | *W EXP 07/01/203 | 134,066 | $98K | No change |
| CUBWW Lionheart Holdings - WT | *W EXP 06/07/203 | 242,460 | $80K | Reduce -5.5% |
| LPAAW Launch One Acquisition - 29 | *W EXP 06/01/203 | 257,338 | $69K | Reduce -4.4% |
| RANGR Range Capital Acquisition Co. | RIGHT 99/99/9999 | 269,037 | $67K | Add +53.7% |
| SBXWF Silverbox Corp. IV-A- 29 | *W EXP 08/19/202 | 61,822 | $62K | Reduce -13.3% |
| IMSRW HCM II Acquisition Corp. - 29 | *W EXP 99/99/999 | 25,000 | $59K | Reduce -79.1% |
| VACHW Voyager Acquisition Corp. -CW | *W EXP 05/16/203 | 195,142 | $59K | No change |
| SIMAW Sim Acquisition Corp. - 29 | *W EXP 06/01/203 | 210,399 | $57K | Reduce -3.7% |
| ALFUW Centurion Acquisition - 29 | *W EXP 05/31/203 | 183,562 | $55K | Reduce -6.8% |
| HDRNW GIGCAPITAL7 Corp.-A - 29 | *W EXP 08/29/202 | 358,013 | $54K | No change |
| LPBBW Launch Two Acquisition -29 | *W EXP 10/09/202 | 115,538 | $46K | Add +89.4% |
| SOULPOWER ACQUISITION CORP | RIGHT 99/99/9999 | 236,023 | $42K | New |
| BRRWW Columbus Circle Capital -30 | *W EXP 05/16/203 | 25,000 | $42K | New |
| FSHPR Flag Ship Acquisition Corp. | RIGHT 03/31/2026 | 275,000 | $41K | No change |
| DYNCW Dynamix Corp. - 29 | *W EXP 10/25/202 | 105,820 | $41K | No change |
| JACKSON ACQUISITION CO II | RIGHT 99/99/9999 | 152,582 | $41K | Add +17.6% |
| IROHR Iron Horse Acquisitions Righ | RIGHT 99/99/9999 | 67,947 | $34K | Reduce -28.3% |
| TONT.WS Graf Global Corp.- 29 | *W EXP 05/31/203 | 122,009 | $33K | Reduce -10.4% |
| BEAGR Bold Eagle Acquisition Corp. | RIGHT 10/11/2029 | 100,000 | $31K | No change |
| TBMCR Trailblazer Merger Corp.-RTS | RIGHT 04/21/2028 | 78,040 | $30K | Reduce -13.9% |
| CCAQW Dune Acquisition Corp. II -30 | *W EXP 04/04/203 | 150,000 | $29K | New |
| TAVIR Tavia Acquisition Corp. | RIGHT 11/26/2029 | 169,735 | $28K | Reduce -7.1% |
| CCIXW Churchill Capital Corp. I-29 | *W EXP 03/31/203 | 29,456 | $28K | No change |
| IBACR Ib Acquisition Corp.-RTS | RIGHT 09/28/2026 | 476,837 | $27K | Reduce -7.2% |
| CAPNR Cayson Acquisition Corp. | RIGHT 99/99/9999 | 195,000 | $27K | No change |
| POLEW Andretti Acquisition Corp.-29 | *W EXP 06/01/203 | 130,081 | $26K | Reduce -10.7% |
| FACTW Fact II Acquisition Corp. -29 | *W EXP 11/26/203 | 97,000 | $24K | No change |
| BACQR Inflection Point Acquisition | RIGHT 11/04/2026 | 68,924 | $24K | Add +76.6% |
| AAM.WS Aa Mission Acquisition -30 | *W EXP 08/01/203 | 234,114 | $22K | Reduce -6.9% |
| PELIR Pelican Acquisition Corp.-RTS | RIGHT 05/02/2030 | 100,000 | $19K | New |
| LEGT.WS Legato Merger Corp. III-29 | *W EXP 05/08/203 | 70,985 | $16K | Reduce -19.8% |
| ALDFW Aldel Financial II Inc. - 29 | *W EXP 09/26/203 | 30,789 | $16K | Reduce -21.1% |
| NHICW Newhold Investment Corp. - 30 | *W EXP 01/30/203 | 50,000 | $16K | Reduce -1.0% |
| EURKR Eureka Acquisition Corp.-RTS | RIGHT 07/03/2026 | 51,000 | $11K | No change |
| DTSQR DT Cloud Star Acquisition Co. | RIGHT 07/09/2029 | 100,000 | $11K | No change |
| SZZLR Sizzle Acquisition Corp. -RTS | RIGHT 04/02/2030 | 50,600 | $10K | New |
| DMAAR Drugs Made in America Ac-RTS | RIGHT 12/09/2029 | 72,964 | $9K | New |
| COPL.WS Copley Acquisition Corp. -30 | *W EXP 99/99/999 | 50,000 | $8K | New |
| YHNAR YHN Acquisition I Ltd. | RIGHT 08/15/2029 | 38,836 | $6K | Reduce -35.5% |
| IPEXR Inflection Point Acquisition | RIGHT 99/99/9999 | 23,035 | $6K | New |
| HYAC.WS Haymaker Acquisition Corp.-28 | *W EXP 05/31/202 | 21,039 | $5K | No change |
| FERAR Fifth Era Acquisition Corp. I | RIGHT 02/21/2030 | 18,047 | $5K | Reduce -85.4% |
| UCFIW Iron Horse Acquisition Co.-29 | *W EXP 09/30/203 | 70,029 | $4K | Reduce -27.6% |
Total filed on the 13F, all lines: $395.5M.
Portfolio Sells Q1 2025 → Q2 2025
| DMF BNYM Municipal Income | Sold out | 0.00% | −3.11 |
| HAYMAKER ACQUISITION CORP 4 | Sold out | 0.00% | −1.96 |
| AAM Aa Mission Acquisition Cor-A | Sold out | 0.00% | −1.42 |
| CEP Cantor Equity Partners Inc. | Sold out | 0.00% | −1.08 |
| VACH Voyager Acquisition Corp. | Sold out | 0.00% | −1.08 |
| TYG Tortoise Energy Infrastruct | Reduce -67.7% | 0.46% | −1.03 |
| CION Cion Investment Corp. | Reduce -9.2% | 3.74% | −1.02 |
| VLOS Velos Acquisition I Corp. | Reduce -48.4% | 0.94% | −0.82 |
| RFAI RF Acquisition Corp. II | Sold out | 0.00% | −0.68 |
| STEW SRH Total Return Fund Inc. | Reduce -8.0% | 5.02% | −0.66 |
| CAPN Cayson Acquisition Corp. | Sold out | 0.00% | −0.62 |
| IMSR Terrestrial Energy Inc. | Reduce -58.9% | 0.32% | −0.47 |
| SWZ Total Return Securities Fund | Reduce -55.0% | 0.17% | −0.42 |
| LPBBU Launch Two Acquisition Corp. | Sold out | 0.00% | −0.42 |
| SPKLF Spark I Acquisition Corp. | Sold out | 0.00% | −0.39 |
| UCFI CN Healthy Food Tech Group C | Sold out | 0.00% | −0.37 |
| GLACF Global Lights Acquisition Co. | Sold out | 0.00% | −0.31 |
| LRFC Logan Ridge Finance Corp. | Reduce -2.8% | 1.13% | −0.31 |
| NBH Neuberger Municipal Fund Inc. | Sold out | 0.00% | −0.30 |
| YHNA YHN Acquisition I Ltd. | Sold out | 0.00% | −0.30 |
| SEG Seaport Entertainment Group | Sold out | 0.00% | −0.29 |
| EURK Eureka Acquisition Corp. | Sold out | 0.00% | −0.28 |
| CEPO Cantor Equity Partners I-A | Sold out | 0.00% | −0.28 |
| COLOMBIER ACQUISITION CORP | Sold out | 0.00% | −0.27 |
| CCIX Churchill Capital Corp. Ix | Reduce -63.4% | 0.11% | −0.22 |
| DMAAU Drugs Made in America Acquis | Reduce -56.0% | 0.15% | −0.21 |
| CHEB Chenghe Acquisition II Co. | Sold out | 0.00% | −0.21 |
| BACQU Bleichroeder Acquisition Cor | Sold out | 0.00% | −0.20 |
| OFS Ofs Capital Corp. | Reduce -30.3% | 0.27% | −0.19 |
| BCV Bancroft Fund Ltd. | Sold out | 0.00% | −0.19 |
| IBAC Ib Acquisition Corp. | Reduce -40.2% | 0.24% | −0.18 |
| XENWX Eaton Vance New York Municip | Reduce -3.6% | 1.23% | −0.16 |
| MAYWOOD ACQUISITION CORP | Reduce -64.5% | 0.08% | −0.16 |
| FERAU Fifth Era Acquisition Corp. I | Reduce -45.7% | 0.18% | −0.16 |
| BRW Saba Capital Income & Opport | Sold out | 0.00% | −0.15 |
| LPAA Launch One Acquisition Corp. | Reduce -5.5% | 1.36% | −0.15 |
| DRDB Roman DBDR Acquisition Corp. | Reduce -3.0% | 1.80% | −0.14 |
| CUB Lionheart Holdings Class A | Reduce -5.5% | 1.29% | −0.14 |
| KTF DWS Municipal Income Trust | Reduce -6.3% | 0.64% | −0.14 |
| ARES ACQUISITION CORP II | Reduce -4.0% | 1.38% | −0.13 |
| LEGT Legato Merger Corp. III | Reduce -19.9% | 0.39% | −0.12 |
| POLE Andretti Acquisition Corp. Class A | Reduce -10.6% | 0.70% | −0.12 |
| RANG Range Capital Acquisition Co. | Reduce -8.8% | 0.70% | −0.11 |
| ALF Centurion Acquisition Corp. | Reduce -6.8% | 0.98% | −0.11 |
| TONT Graf Global Corp. Class A | Reduce -10.4% | 0.65% | −0.11 |
| NETD Nabors Energy Transition C-A | Reduce -15.8% | 0.40% | −0.10 |
| SIMA Sim Acquisition Corp. I-A | Reduce -3.7% | 1.11% | −0.10 |
| JACS Jackson Acquisition Co. Class A | Reduce -2.7% | 1.09% | −0.08 |
| SBXDF Silverbox Corp. IV-A | Reduce -9.2% | 0.78% | −0.07 |
| EDD Morgan Stanley Emrg MRK Dom | Sold out | 0.00% | −0.07 |
Portfolio Buys Q1 2025 → Q2 2025
| CET Central Securities Corp. | Add +43.7% | 4.48% | +1.35 |
| NBXG Neuberger Next Generation Co. | Add +26.3% | 4.21% | +1.22 |
| ALX Alexander's Inc. | New | 1.20% | +1.20 |
| TRC Tejon Ranch Co. | Add +49.1% | 3.41% | +1.13 |
| CCAP Crescent Capital BDC Inc. | New | 1.04% | +1.04 |
| CNNE Cannae Holdings Inc. | Add +42.0% | 2.87% | +0.97 |
| LEO BNY Mellon Strategic Muni | New | 0.92% | +0.92 |
| BACCU Blue Acquisition Corp. | New | 0.72% | +0.72 |
| CCCXU Churchill Capital Corp. X | New | 0.65% | +0.65 |
| CHAC Crane Harbor Acqu Corp. Class A | New | 0.64% | +0.64 |
| OYSEU Oyster Enterprises II Acquis | New | 0.62% | +0.62 |
| RWAY Runway Growth Finance Corp. | Add +30.8% | 2.84% | +0.60 |
| SOUL Soulpower Acquisition Co. Class A | New | 0.60% | +0.60 |
| BEAG Bold Eagle Acquisition Cor-A | Add +219.1% | 0.85% | +0.57 |
| VLGEA Village Super Market Class A | New | 0.52% | +0.52 |
| LWACU Lightwave Acquisition Corp. | New | 0.52% | +0.52 |
| CCAQ Collective Acquisition Corp. | New | 0.51% | +0.51 |
| BBDC Barings BDC Inc. | New | 0.49% | +0.49 |
| BLUWU Blue Water Acquisition III | New | 0.47% | +0.47 |
| DMB BNY Mellon Muni BND Infra | New | 0.45% | +0.45 |
| XPMAX Pioneer Municipal High Inc. | New | 0.41% | +0.41 |
| TACHU Titan Acquisition Corp. | New | 0.40% | +0.40 |
| XMHIX Pioneer Muni High Inc. TR | New | 0.34% | +0.34 |
| SZZLU Sizzle Acquisition Corp. II | New | 0.34% | +0.34 |
| IHD Voya Emrg MRKT Hi DVD Eqty | New | 0.33% | +0.33 |
| GF The New Germany Fund Inc. | Add +10.5% | 1.50% | +0.31 |
| BTX BlackRock Tech & Priv Eqty | Add +23.9% | 1.14% | +0.30 |
| SOUL.U Soulpower Acquisition Corp. | New | 0.28% | +0.28 |
| CRAQU Cal Redwood Acquisition Corp. | New | 0.26% | +0.26 |
| XRPNU Armada Acquisition Corp. II | New | 0.26% | +0.26 |
| CHPGU Championsgate Acquisition Co. | New | 0.26% | +0.26 |
| COPL Copley Acquisition Corp. Class A | New | 0.26% | +0.26 |
| PELI Pelican Acquisition Corp. | New | 0.25% | +0.25 |
| LPBB Launch Two Acquisition Class A | Add +49.9% | 0.82% | +0.25 |
| IIF Morgan Stanley India Invest | Add +4.2% | 2.14% | +0.25 |
| XMIOX Pioneer Muni High Inc. Opp | New | 0.24% | +0.24 |
| DMAA Drugs Made in America Acquis | New | 0.19% | +0.19 |
| TACOU Berto Acquisition Corp. | New | 0.19% | +0.19 |
| WENNU Wen Acquisition Corp. | New | 0.19% | +0.19 |
| JOF Japan Smaller Capitalization | New | 0.19% | +0.19 |
| ZTR Virtus Total Return Fund Inc. | Add +83.9% | 0.41% | +0.18 |
| CXE MFS High Income Municipal TR | Add +99.0% | 0.40% | +0.18 |
| OTF Blue Owl Technology Finance | New | 0.18% | +0.18 |
| CCAQU Dune Acquisition Corp. II | New | 0.16% | +0.16 |
| BSAAU Best Spac I Acquisition Corp. | New | 0.15% | +0.15 |
| PACHU Pioneer Acquisition I Corp. | New | 0.14% | +0.14 |
| XIAEX Voya Asia Pac Hi DVD Eq Inc. | New | 0.14% | +0.14 |
| RDAGU Republic Digital Acquisition | New | 0.14% | +0.14 |
| EGHAU Egh Acquisition Corp. | New | 0.13% | +0.13 |
| SZZL Sizzle Acquisition Corp. Class A | New | 0.13% | +0.13 |
Notes & Other Activity Q1 2025 → Q2 2025
| VLOSW M3-Brigade Acquisition -30 | *W EXP 99/99/999 | Reduce -25.1% | 173,094 | $312K |
| DRDBW Roman DBDR Acquisition -30 | *W EXP 10/31/203 | Add +38.9% | 343,751 | $172K |
| Colombier Acquisition - 29 | *W EXP 11/24/202 | Reduce -40.9% | 39,213 | $147K |
| CUBWW Lionheart Holdings - WT | *W EXP 06/07/203 | Reduce -5.5% | 242,460 | $80K |
| LPAAW Launch One Acquisition - 29 | *W EXP 06/01/203 | Reduce -4.4% | 257,338 | $69K |
| RANGR Range Capital Acquisition Co. | RIGHT 99/99/9999 | Add +53.7% | 269,037 | $67K |
| SBXWF Silverbox Corp. IV-A- 29 | *W EXP 08/19/202 | Reduce -13.3% | 61,822 | $62K |
| IMSRW HCM II Acquisition Corp. - 29 | *W EXP 99/99/999 | Reduce -79.1% | 25,000 | $59K |
| SIMAW Sim Acquisition Corp. - 29 | *W EXP 06/01/203 | Reduce -3.7% | 210,399 | $57K |
| ALFUW Centurion Acquisition - 29 | *W EXP 05/31/203 | Reduce -6.8% | 183,562 | $55K |
| LPBBW Launch Two Acquisition -29 | *W EXP 10/09/202 | Add +89.4% | 115,538 | $46K |
| SOULPOWER ACQUISITION CORP | RIGHT 99/99/9999 | New | 236,023 | $42K |
| BRRWW Columbus Circle Capital -30 | *W EXP 05/16/203 | New | 25,000 | $42K |
| JACKSON ACQUISITION CO II | RIGHT 99/99/9999 | Add +17.6% | 152,582 | $41K |
| IROHR Iron Horse Acquisitions Righ | RIGHT 99/99/9999 | Reduce -28.3% | 67,947 | $34K |
| TONT.WS Graf Global Corp.- 29 | *W EXP 05/31/203 | Reduce -10.4% | 122,009 | $33K |
| TBMCR Trailblazer Merger Corp.-RTS | RIGHT 04/21/2028 | Reduce -13.9% | 78,040 | $30K |
| CCAQW Dune Acquisition Corp. II -30 | *W EXP 04/04/203 | New | 150,000 | $29K |
| TAVIR Tavia Acquisition Corp. | RIGHT 11/26/2029 | Reduce -7.1% | 169,735 | $28K |
| IBACR Ib Acquisition Corp.-RTS | RIGHT 09/28/2026 | Reduce -7.2% | 476,837 | $27K |
| POLEW Andretti Acquisition Corp.-29 | *W EXP 06/01/203 | Reduce -10.7% | 130,081 | $26K |
| BACQR Inflection Point Acquisition | RIGHT 11/04/2026 | Add +76.6% | 68,924 | $24K |
| AAM.WS Aa Mission Acquisition -30 | *W EXP 08/01/203 | Reduce -6.9% | 234,114 | $22K |
| PELIR Pelican Acquisition Corp.-RTS | RIGHT 05/02/2030 | New | 100,000 | $19K |
| LEGT.WS Legato Merger Corp. III-29 | *W EXP 05/08/203 | Reduce -19.8% | 70,985 | $16K |
| ALDFW Aldel Financial II Inc. - 29 | *W EXP 09/26/203 | Reduce -21.1% | 30,789 | $16K |
| NHICW Newhold Investment Corp. - 30 | *W EXP 01/30/203 | Reduce -1.0% | 50,000 | $16K |
| ATMVR Alphavest Acquisition Co.-RT | RIGHT 01/22/2026 | Sold out | 47,096 | $11Kbefore exit |
| SZZLR Sizzle Acquisition Corp. -RTS | RIGHT 04/02/2030 | New | 50,600 | $10K |
| DMAAR Drugs Made in America Ac-RTS | RIGHT 12/09/2029 | New | 72,964 | $9K |
| COPL.WS Copley Acquisition Corp. -30 | *W EXP 99/99/999 | New | 50,000 | $8K |
| YHNAR YHN Acquisition I Ltd. | RIGHT 08/15/2029 | Reduce -35.5% | 38,836 | $6K |
| IPEXR Inflection Point Acquisition | RIGHT 99/99/9999 | New | 23,035 | $6K |
| JVSAR Jvspac Acquisition Corp.-RTS | RIGHT 11/26/2026 | Sold out | 21,423 | $5Kbefore exit |
| FERAR Fifth Era Acquisition Corp. I | RIGHT 02/21/2030 | Reduce -85.4% | 18,047 | $5K |
| UCFIW Iron Horse Acquisition Co.-29 | *W EXP 09/30/203 | Reduce -27.6% | 70,029 | $4K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 148 | $452.4M | STEW, CET, NBXG, GAM, DSM |
| Q1 2026 | 146 | $443.1M | STEW, DSM, CET, GAM, TPL |
| Q4 2025 | 148 | $446.2M | STEW, DSM, CET, GAM, NBXG |
| Q3 2025 | 138 | $429.6M | GAM, STEW, CET, NBXG, DSM |
| Q2 2025 | 125 | $393.5M | STEW, GAM, CET, NBXG, CION |
| Q1 2025 | 104 | $368.5M | STEW, CION, GAM, DSM, AFB |
| Q4 2024 | 105 | $382.1M | STEW, CION, GAM, DSM, TPZ |
| Q3 2024 | 99 | $297.1M | STEW, GAM, CION, CET, TPL |
| Q2 2024 | 99 | $267.2M | STEW, GAM, CION, CET, EVE |
| Q1 2024 | 109 | $302.2M | STEW, GAM, KTF, CION, CET |