Bulldog Investors, LLP
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Bulldog Investors, LLP reported 148 stock positions worth $446.2 million. Its top holding was SRH Total Return Fund (STEW) at 5.2% of the portfolio, followed by BNYM Strat Muni BND (DSM, 4.6%) and Central Securities (CET, 4.4%). Compared with Q3 2025, it opened 39 new positions, sold out of 28, added to 35 and reduced 42. The biggest buy was BNY Mellon Strategic Muni (LEO, shares +104%) and the biggest sale Allianceberstein NTL Muni (AFB, shares −99%).
- Most Recent 13F
- Q2 2026
- Location
- SADDLE BROOK, NJ
- CIK
- 0001504304
- Portfolio Value
- $446.2M (Q4 2025)
- SEC Filing
- 0001398344-26-003036 ↗ filed Feb 13, 2026
Holdings Value
Holdings 148 stocks · $446.2M
| STEW SRH Total Return Fund Inc. | 5.17% | 1,243,823 | $23.1M | Add +11.3% |
| DSM BNYM Strat Muni BND filed as BNY MELLON STRATEGIC MUN BD | 4.57% | 3,308,091 | $20.4M | Add +26.1% |
| CET Central Securities Corp. | 4.44% | 390,946 | $19.8M | Add +1.3% |
| GAM General American Investors | 3.91% | 296,960 | $17.4M | Reduce -9.4% |
| NBXG Neuberger Next Generation Co. | 3.78% | 1,168,126 | $16.9M | Add +2.7% |
| CION Cion Investment Corp. | 3.33% | 1,538,071 | $14.9M | No change |
| XCMUX MFS High Yield Municipal TR | 2.83% | 3,593,657 | $12.6M | Add +20.0% |
| TRC Tejon Ranch Co. | 2.80% | 791,492 | $12.5M | Add +0.1% |
| RWAY Runway Growth Finance Corp. | 2.40% | 1,200,872 | $10.7M | Add +15.3% |
| CXH MFS Investment Grade Muni | 2.14% | 1,201,345 | $9.6M | Add +22.5% |
| LEO BNY Mellon Strategic Muni | 2.11% | 1,480,512 | $9.4M | Add +104.2% |
| TPL Texas Pacific Land Corp. | 2.04% | 31,700 | $9.1M | Add +8.9% |
| OTF Blue Owl Technology Finance | 2.01% | 615,848 | $9.0M | Add +58.0% |
| XGDVX Gabelli Dividend & Income TR | 1.87% | 300,586 | $8.3M | Reduce -0.1% |
| FSK FS KKR Capital Corp. | 1.61% | 486,352 | $7.2M | Add +101.7% |
| CNNE Cannae Holdings Inc. | 1.61% | 456,191 | $7.2M | Reduce -13.7% |
| OXLC Oxford Lane Capital Corp. | 1.59% | 485,401 | $7.1M | Add +8.5% |
| DRDB Roman DBDR Acquisition Corp. | 1.59% | 680,373 | $7.1M | Reduce -0.7% |
| CCAP Crescent Capital BDC Inc. | 1.44% | 457,518 | $6.4M | Add +4.6% |
| ALX Alexander's Inc. | 1.37% | 28,000 | $6.1M | Add +24.4% |
| MRCC Monroe Capital Corp. | 1.36% | 954,816 | $6.1M | Add +46.7% |
| VLGEA Village Super Market Class A | 1.35% | 170,515 | $6.0M | Add +12.5% |
| GF The New Germany Fund Inc. | 1.28% | 501,257 | $5.7M | Add +2.0% |
| IHD Voya Emrg MRKT Hi DVD Eqty | 1.27% | 900,453 | $5.6M | Add +55.1% |
| BCIC BCP Investment Corp. | 1.00% | 378,412 | $4.5M | Reduce -17.7% |
| DMB BNY Mellon Muni BND Infra | 0.99% | 400,303 | $4.4M | Add +20.6% |
| SIMA Sim Acquisition Corp. I-A | 0.98% | 414,660 | $4.4M | Reduce -0.2% |
| CB Chubb Ltd. | 0.98% | 14,000 | $4.4M | Add +75.0% |
| JACS Jackson Acquisition Co. Class A | 0.96% | 410,138 | $4.3M | Reduce -0.7% |
| HEQ John Hancock Divers Inc. Fund | 0.92% | 381,764 | $4.1M | New |
| ALF Centurion Acquisition Corp. | 0.85% | 354,484 | $3.8M | Reduce -1.1% |
| BPRE Bluerock Private Real Estate | 0.82% | 242,504 | $3.6M | New |
| IIF Morgan Stanley India Invest | 0.81% | 144,096 | $3.6M | Reduce -37.2% |
| CUB Lionheart Holdings Class A | 0.79% | 330,645 | $3.5M | Reduce -30.6% |
| GDL GDL Fund | 0.78% | 409,922 | $3.5M | No change |
| OYSE Oyster Enterprises II Acq-A | 0.74% | 327,096 | $3.3M | Add +52.3% |
| GLO Clough Global Opportunities | 0.73% | 573,849 | $3.2M | Add +28.8% |
| BEAG Bold Eagle Acquisition Cor-A | 0.72% | 303,056 | $3.2M | Reduce -2.1% |
| ECF Ellsworth Growth and Income | 0.70% | 267,836 | $3.1M | Reduce -14.3% |
| XIAEX Voya Asia Pac Hi DVD Eq Inc. | 0.69% | 424,908 | $3.1M | Add +4.6% |
| BCSS Bain Capital GSS Inv- A | 0.67% | 296,579 | $3.0M | New |
| BACC Blue Acquisition Corp. Class A | 0.67% | 291,605 | $3.0M | Reduce -5.0% |
| OBDC Blue Owl Capital Corp. | 0.66% | 238,275 | $3.0M | New |
| BBDC Barings BDC Inc. | 0.65% | 317,307 | $2.9M | Add +370.6% |
| MESHU Meshflow Acquisition Corp. | 0.65% | 289,100 | $2.9M | New |
| BCAR D. Boral Arc Acquisit Class A | 0.62% | 275,000 | $2.8M | Add +100.0% |
| DSACU Daedalus Special Acquisition | 0.61% | 270,000 | $2.7M | New |
| LWAC Lightwave Acquisition Corp. Class A | 0.59% | 260,956 | $2.6M | No change |
| CCAQ Collective Acquisition Corp. filed as DUNE ACQUISITION CORP II | 0.58% | 252,905 | $2.6M | Reduce -0.7% |
| TONT Graf Global Corp. Class A | 0.55% | 227,987 | $2.5M | Reduce -1.2% |
| XAI OCTAGN FLT RAT & ALT INM | 0.55% | 508,363 | $2.4M | New |
| UTF Cohen & Steers Infrastructur | 0.55% | 101,003 | $2.4M | New |
| JOF Japan Smaller Capitalization | 0.54% | 217,441 | $2.4M | Reduce -0.2% |
| PBBK PB Bankshares Inc. | 0.52% | 110,000 | $2.3M | No change |
| NCDL Nuveen Churchill Direct Lend | 0.52% | 173,412 | $2.3M | New |
| BRK.A Berkshire Hathaway Inc. Class A | 0.51% | 3 | $2.3M | New |
| GFUZ General Fusion Group Ltd. filed as SPRING VY ACQUISITION CORP I | 0.50% | 218,855 | $2.2M | New |
| WENN Wen Acquisition Corp. Class A | 0.49% | 218,562 | $2.2M | Add +212.2% |
| AIIA AI Infrastructure Ac-A | 0.48% | 216,760 | $2.2M | New |
| VNME Vendome Acquisition Corp. Class A | 0.48% | 211,434 | $2.1M | Add +88.1% |
| DYOR Insight Digital Partners I-A | 0.46% | 205,798 | $2.0M | New |
| MKLY McKinley Acquisition Co. Class A | 0.45% | 200,000 | $2.0M | New |
| SPEG Silver Pegasus Acquisition-A | 0.45% | 197,587 | $2.0M | New |
| NSTR Northstar Earth & Space Ente filed as VIKING ACQUISITION CORP I | 0.44% | 200,000 | $2.0M | New |
| PGR Progressive Corp. | 0.41% | 8,000 | $1.8M | New |
| NWFL Norwood Financial Corp. | 0.40% | 64,145 | $1.8M | Add +587.4% |
| INAC Indigo Acquisition Corp. | 0.40% | 178,479 | $1.8M | Add +9.1% |
| SZZL Sizzle Acquisition Corp. Class A | 0.38% | 167,604 | $1.7M | Reduce -3.1% |
| HDRN Hadron Energy Inc. filed as GIGCAPITAL7 CORP | 0.38% | 161,306 | $1.7M | Reduce -49.5% |
| EVAC Eqv Ventures Acquisition C-A | 0.38% | 167,545 | $1.7M | Add +902.8% |
| CXE MFS High Income Municipal TR | 0.37% | 449,633 | $1.7M | No change |
| HVMC Highview Merger Corp. Class A | 0.36% | 160,663 | $1.6M | New |
| SAC.U Safeguard Acquisition Corp. | 0.36% | 157,388 | $1.6M | New |
| CCIF Carlyle Credit Income Fund | 0.35% | 337,241 | $1.6M | Add +2.7% |
| GIW GIGCAPITAL8 Corp. Class A | 0.35% | 159,263 | $1.6M | New |
| TLNC Talon Capital Corp. Class A | 0.35% | 154,000 | $1.6M | New |
| TACH Titan Acquisition Corp. Class A | 0.34% | 150,000 | $1.5M | No change |
| ICMB Investcorp Credit Management | 0.34% | 554,197 | $1.5M | Add +6.0% |
| RANG Range Capital Acquisition Co. | 0.34% | 143,580 | $1.5M | Reduce -46.0% |
| SVACU Spring Valley Acquisition Co. | 0.33% | 142,939 | $1.5M | Reduce -61.0% |
| LEGT Legato Merger Corp. III | 0.32% | 129,449 | $1.4M | Reduce -3.5% |
| DMAA Drugs Made in America Acquis | 0.30% | 130,264 | $1.4M | No change |
| DYNC Dynamix Corp. | 0.30% | 130,348 | $1.3M | Reduce -0.3% |
| SCIIU SC II Acquisition Corp. | 0.30% | 132,803 | $1.3M | New |
| AIIA.U AI Infrastructure Acquisitio | 0.29% | 128,529 | $1.3M | New |
| DYORU Insight Digital Partners II | 0.29% | 127,985 | $1.3M | New |
| MXE Mexico Equity and Income FD | 0.28% | 101,158 | $1.3M | No change |
| TAVI Tavia Acquisition Corp. | 0.27% | 115,051 | $1.2M | Reduce -46.8% |
| DMA Destra Multi-Alternative | 0.26% | 127,218 | $1.1M | Reduce -54.6% |
| NXDT Nexpoint Diversified Real Es | 0.25% | 293,119 | $1.1M | Add +5.1% |
| EVOXU Evolution Global Acquisition | 0.24% | 106,916 | $1.1M | New |
| NHIC Newhold Investment Cor III-A | 0.23% | 100,000 | $1.0M | No change |
| XRPN Armada Acquisition Class A | 0.23% | 100,000 | $1.0M | No change |
| JENA Jena Acquisition Corp. II - A | 0.23% | 100,440 | $1.0M | Reduce -4.4% |
| COPL Copley Acquisition Corp. Class A | 0.23% | 100,000 | $1.0M | No change |
| CHPG Championsgate Acquisitio-A | 0.23% | 100,000 | $1.0M | No change |
| PELI Pelican Acquisition Corp. | 0.23% | 100,000 | $1.0M | No change |
| CRAQ Cal Redwood Acquisit Class A | 0.23% | 100,000 | $1.0M | No change |
| SWZ Total Return Securities Fund | 0.23% | 161,903 | $1.0M | Add +51.5% |
| FIGX Figx Capital Acquisition C-A | 0.23% | 100,090 | $1.0M | No change |
| MBVI M3-Brigade Acquisition Class A | 0.22% | 100,000 | $1.0M | New |
| XGLQX Clough Global Equity Fund | 0.22% | 127,456 | $976K | New |
| HHH Howard Hughes Holdings Inc. | 0.21% | 12,000 | $957K | No change |
| SCPQU Social Commerce Partners Cor | 0.20% | 88,992 | $890K | New |
| BCV Bancroft Fund Ltd. | 0.20% | 39,448 | $872K | No change |
| PFX Phenixfin Corp. | 0.19% | 19,218 | $849K | No change |
| BIXIU Bitcoin Infrastructure Acqui | 0.17% | 75,000 | $747K | New |
| TDWDU Tailwind 2.0 Acquisition Cor | 0.17% | 74,400 | $747K | New |
| FERA Fifth Era Acquisition Corp. Class A | 0.17% | 72,361 | $745K | Reduce -2.5% |
| BDCIU BTC Development Corp. | 0.16% | 70,154 | $711K | No change |
| CRANU Crane Harbor Acquisition Cor | 0.14% | 63,809 | $643K | New |
| CHAC Crane Harbor Acqu Corp. Class A | 0.14% | 58,290 | $628K | Reduce -76.7% |
| HVMCU Highview Merger Corp. | 0.13% | 59,302 | $601K | Reduce -73.0% |
| ALDF Aldel Financial II Inc. | 0.13% | 56,940 | $597K | Reduce -1.7% |
| GYRO Gyrodyne LLC | 0.12% | 60,000 | $541K | No change |
| EGHA Egh Acquisition Co. Class A | 0.11% | 50,000 | $507K | No change |
| BLRKU Bluerock Acquisition Corp. | 0.11% | 50,000 | $500K | New |
| DNMX Dynamix Corp. III Class A | 0.11% | 50,000 | $495K | New |
| RDAG Republic Digital Acquis Class A | 0.11% | 48,000 | $486K | New |
| SPAQ Horizon Kinetics Spac Active | 0.10% | 4,933 | $447K | No change |
| CCIX Churchill Capital Corp. Ix | 0.10% | 41,730 | $444K | No change |
| SPEGU Silver Pegasus Acquisition C | 0.10% | 41,752 | $430K | Reduce -82.6% |
| APXT Apex Treasury Corp. Class A | 0.10% | 43,000 | $425K | New |
| EVAC.U Eqv Ventures Acquisition Cor | 0.09% | 38,177 | $386K | Reduce -80.7% |
| RNGT Range Capital Acquisit Class A | 0.08% | 37,039 | $369K | New |
| IPEX Inflection Point Acquisition | 0.07% | 29,182 | $300K | Reduce -35.0% |
| GSRFU GSR IV Acquisition Corp. | 0.07% | 28,745 | $298K | Reduce -31.9% |
| OFS Ofs Capital Corp. | 0.06% | 57,639 | $274K | No change |
| VNMEU Vendome Acquisition Corp. I | 0.06% | 26,603 | $271K | Reduce -79.2% |
| CCII Cohen Circle Acquisit II - A | 0.06% | 25,000 | $256K | No change |
| FCRS.U Futurecrest Acquisition Corp. | 0.06% | 25,000 | $256K | No change |
| KOYNU CSLM Digital Asset Acquisiti | 0.06% | 25,024 | $253K | Reduce -90.0% |
| SVAQU Silicon Valley Acquisition C | 0.06% | 25,000 | $249K | New |
| GTERA Globa Terra Acquisition Co. Class A | 0.05% | 21,870 | $221K | New |
| MRLN Merlin Inc. filed as INFLECTION POINT ACQUISITION | 0.04% | 17,684 | $190K | Reduce -69.0% |
| AXIN Axiom Intelligence Class A | 0.04% | 18,000 | $181K | No change |
| MKLYU McKinley Acquisition Corp. | 0.04% | 16,921 | $171K | Reduce -92.2% |
| TLNCU Talon Capital Corp. | 0.04% | 15,250 | $156K | Reduce -91.0% |
| OTGAU Otg Acquisition Corp. I | 0.03% | 15,250 | $155K | No change |
| BCARU D Boral Arc Acquisition I Co. | 0.03% | 15,190 | $155K | Reduce -90.0% |
| MBVIU M3-Brigade Acquisition Vi Co. | 0.03% | 15,240 | $154K | Reduce -86.8% |
| OACC Oaktree Acquisition Corp. I-A | 0.03% | 13,500 | $143K | No change |
| GSRF GSR IV Acquisition Corp. Class A | 0.03% | 11,410 | $114K | New |
| AFB Allianceberstein NTL Muni | 0.03% | 10,474 | $113K | Reduce -98.9% |
| BLZRU Trailblazer Acquisition Corp. | 0.02% | 10,000 | $103K | No change |
| PCF High Income Securities Fund | 0.01% | 10,705 | $66K | No change |
| HFRO Highland Opport & Income | 0.01% | 10,715 | $64K | No change |
| UCFI CN Healthy Food Tech Group C | 0.01% | 11,243 | $62K | Reduce -11.0% |
Other holdings (73): bonds, preferreds, convertibles and warrants · $2.7M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| DRDBW Roman DBDR Acquisition -30 | *W EXP 10/31/203 | 339,377 | $193K | Reduce -0.8% |
| BACCR Blue Acquisition Corp.-RTS | RIGHT 06/11/2030 | 481,585 | $156K | Reduce -0.8% |
| DYNCW Dynamix Corp. - 29 | *W EXP 10/25/202 | 66,640 | $137K | Add +100.0% |
| HDRNW GIGCAPITAL7 Corp.-A - 29 | *W EXP 08/29/202 | 305,185 | $125K | Reduce -14.8% |
| VLOSW M3-Brigade Acquisition -30 | *W EXP 99/99/999 | 170,958 | $121K | Reduce -0.3% |
| RANGR Range Capital Acquisition Co. | RIGHT 99/99/9999 | 261,398 | $118K | Reduce -1.6% |
| EQV VENTURES ACQUISITION | *W EXP 07/01/203 | 134,066 | $64K | No change |
| LPAAW Launch One Acquisition - 29 | *W EXP 06/01/203 | 253,799 | $63K | Reduce -0.5% |
| SOULPOWER ACQUISITION CORP | RIGHT 99/99/9999 | 333,950 | $60K | Reduce -0.9% |
| ALFUW Centurion Acquisition - 29 | *W EXP 05/31/203 | 177,242 | $57K | Reduce -1.1% |
| AI INFRASTRUCTURE ACQUISITIO | RIGHT 99/99/9999 | 216,760 | $56K | New |
| OYSER Oyster Enterprises II Acquis | RIGHT 05/22/2030 | 312,349 | $54K | Add +56.2% |
| FSHPR Flag Ship Acquisition Corp. | RIGHT 03/31/2026 | 275,000 | $52K | No change |
| TONT.WS Graf Global Corp.- 29 | *W EXP 05/31/203 | 115,041 | $52K | Reduce -1.2% |
| BCARW D Boral Arc Acquisition - 30 | *W EXP 07/23/203 | 137,500 | $50K | Add +100.0% |
| GIWWR GIGCAPITAL8 Corp.-RTS | RIGHT 09/30/2030 | 159,263 | $49K | New |
| SPEGR Silver Pegasus Acquisition C | RIGHT 06/26/2030 | 197,587 | $47K | New |
| CCAQW Dune Acquisition Corp. II -30 | *W EXP 04/04/203 | 189,676 | $47K | Reduce -0.7% |
| FACTW Fact II Acquisition Corp. -29 | *W EXP 11/26/203 | 130,041 | $46K | No change |
| GFUZW Spring Valley Acq Co. -30 | *W EXP 09/04/203 | 72,951 | $45K | Reduce -40.3% |
| SIMAW Sim Acquisition Corp. - 29 | *W EXP 06/01/203 | 208,373 | $45K | Reduce -0.2% |
| CAPNR Cayson Acquisition Corp. | RIGHT 99/99/9999 | 195,000 | $44K | No change |
| CUBWW Lionheart Holdings - WT | *W EXP 06/07/203 | 235,670 | $40K | Reduce -1.5% |
| KOYNW CSLM Digital Asset Acquisiti | *W EXP 08/28/203 | 100,000 | $40K | New |
| POLEW Andretti Acquisition Corp.-29 | *W EXP 06/01/203 | 126,075 | $36K | Reduce -1.3% |
| VACHW Voyager Acquisition Corp. -CW | *W EXP 05/16/203 | 195,142 | $36K | No change |
| IBACR Ib Acquisition Corp.-RTS | RIGHT 09/28/2026 | 459,807 | $36K | Reduce -1.4% |
| JACKSON ACQUISITION CO II | RIGHT 99/99/9999 | 147,921 | $36K | Reduce -0.7% |
| DYORW Insight Digital Partners II | *W EXP 10/28/203 | 102,899 | $34K | New |
| CRAQR Cal Redwood Acquisition Corp. | RIGHT 05/15/2030 | 100,000 | $32K | No change |
| BEAGR Bold Eagle Acquisition Corp. | RIGHT 10/11/2029 | 100,000 | $32K | No change |
| HVMCW Highview Merger Corp. - 30 | *W EXP 07/24/203 | 80,331 | $28K | Reduce -27.0% |
| FERAR Fifth Era Acquisition Corp. I | RIGHT 02/21/2030 | 70,161 | $28K | Reduce -2.6% |
| TAVIR Tavia Acquisition Corp. | RIGHT 11/26/2029 | 120,204 | $28K | Reduce -27.6% |
| BACQR Inflection Point Acquisition | RIGHT 11/04/2026 | 36,623 | $27K | Reduce -35.9% |
| SZZLR Sizzle Acquisition Corp. -RTS | RIGHT 04/02/2030 | 167,704 | $27K | Reduce -3.0% |
| INACR Indigo Acquisition Corp. | RIGHT 04/02/2027 | 178,479 | $27K | Add +9.1% |
| LEGT.WS Legato Merger Corp. III-29 | *W EXP 05/08/203 | 64,775 | $27K | Reduce -3.2% |
| VNMEW Vendome Acquisition Corp. I | *W EXP 07/03/202 | 105,717 | $26K | Add +88.1% |
| MKLYR McKinley Acquisition Corp. | RIGHT 07/25/2030 | 200,000 | $26K | Reduce -7.8% |
| TLNCW Talon Capital Corp.-30 | *W EXP 08/27/203 | 51,332 | $26K | Reduce -8.9% |
| NSTR.WS Viking Acquisition Corp. I | *W EXP 11/03/203 | 66,666 | $25K | New |
| CCIXW Churchill Capital Corp. I-29 | *W EXP 03/31/203 | 27,837 | $25K | Reduce -5.5% |
| DMAAR Drugs Made in America Ac-RTS | RIGHT 12/09/2029 | 130,264 | $24K | No change |
| TACHW Titan Acquisition Corp -30 | *W EXP 05/16/203 | 75,000 | $24K | No change |
| LWACW Lightwave Acquisition Corp. | *W EXP 06/06/203 | 130,479 | $24K | Add +161.0% |
| PELIR Pelican Acquisition Corp.-RTS | RIGHT 05/02/2030 | 100,000 | $23K | No change |
| XRPNW Armada Acquisition Corp - A | *W EXP 05/21/203 | 25,000 | $22K | Reduce -50.0% |
| WENNW Wen Acquisition Corp.-A -31 | *W EXP 99/99/999 | 35,000 | $22K | No change |
| EVAC.WS Eqv Ventures Acquisition Cor | *W EXP 06/30/203 | 55,862 | $20K | New |
| EURKR Eureka Acquisition Corp.-RTS | RIGHT 07/03/2026 | 51,000 | $19K | No change |
| TBMCR Trailblazer Merger Corp.-RTS | RIGHT 04/21/2028 | 74,399 | $18K | Reduce -1.0% |
| NHICW Newhold Investment Corp. - 30 | *W EXP 01/30/203 | 50,000 | $18K | No change |
| IPEXR Inflection Point Acquisition | RIGHT 99/99/9999 | 21,272 | $17K | Reduce -52.6% |
| SBXWF Silverbox Corp. IV-A- 29 | *W EXP 08/19/202 | 58,997 | $17K | Reduce -1.2% |
| ALDFW Aldel Financial II Inc. - 29 | *W EXP 09/26/203 | 28,470 | $16K | Reduce -1.7% |
| LPBBW Launch Two Acquisition -29 | *W EXP 10/09/202 | 49,419 | $16K | Reduce -54.9% |
| CHPGR Championsgate Acquisition Co. | RIGHT 05/14/2030 | 100,000 | $15K | No change |
| UCFIW Iron Horse Acquisition Co.-29 | *W EXP 09/30/203 | 60,679 | $15K | Reduce -7.0% |
| BLUWW Blue Water Acquisition-CW26 | *W EXP 05/23/203 | 27,164 | $14K | Reduce -50.2% |
| RDAGW Republic Digital Acqu - 30 | *W EXP 05/01/203 | 23,996 | $14K | New |
| TACOW Berto Acquisition Corp. - 30 | *W EXP 05/01/203 | 34,577 | $13K | No change |
| FIGXW Figx Capital Acquisition Cor | *W EXP 06/17/203 | 50,045 | $13K | New |
| EGHAR Egh Acquisition Corp.-RTS | RIGHT 99/99/9999 | 50,000 | $13K | No change |
| MBVIW M3-Brigade Acquisition Vi Co. | *W EXP 08/18/203 | 33,332 | $12K | Reduce -13.1% |
| COPL.WS Copley Acquisition Corp. -30 | *W EXP 99/99/999 | 50,000 | $9K | No change |
| DNMXW Dynamix Corp. III | *W EXP 10/10/203 | 25,000 | $8K | New |
| APXTW Apex Treasury Corp. -30 | *W EXP 10/07/203 | 21,500 | $6K | New |
| RNGTW Range Capital Acquisition Co. | *W EXP 09/29/203 | 18,516 | $5K | New |
| YHNAR YHN Acquisition I Ltd. | RIGHT 08/15/2029 | 32,901 | $4K | Reduce -8.4% |
| GTERR Globa Terra Acquisition-RTS | RIGHT 06/17/2030 | 21,870 | $3K | New |
| GTERW Globa Terra Acquisition - 30 | *W EXP 06/17/203 | 16,399 | $2K | New |
| AAM.WS Aa Mission Acquisition -30 | *W EXP 08/01/203 | 10,177 | $2K | Reduce -95.5% |
Total filed on the 13F, all lines: $449.0M.
Portfolio Sells Q3 2025 → Q4 2025
| AFB Allianceberstein NTL Muni | Reduce -98.9% | 0.03% | −2.33 |
| XENWX Eaton Vance New York Municip | Sold out | 0.00% | −1.11 |
| FTW Eqv Ventures Acquisition C-A | Sold out | 0.00% | −0.97 |
| GAM General American Investors | Reduce -9.4% | 3.91% | −0.84 |
| VLOS Velos Acquisition I Corp. | Sold out | 0.00% | −0.80 |
| SOUL Soulpower Acquisition Co. Class A | Sold out | 0.00% | −0.79 |
| LPBB Launch Two Acquisition Class A | Sold out | 0.00% | −0.71 |
| SBXDF Silverbox Corp. IV-A | Sold out | 0.00% | −0.67 |
| CNNE Cannae Holdings Inc. | Reduce -13.7% | 1.61% | −0.65 |
| POLE Andretti Acquisition Corp. Class A | Sold out | 0.00% | −0.63 |
| FACT Fact II Acquisition Corp. | Sold out | 0.00% | −0.61 |
| IIF Morgan Stanley India Invest | Reduce -37.2% | 0.81% | −0.60 |
| SVACU Spring Valley Acquisition Co. | Reduce -61.0% | 0.33% | −0.55 |
| KOYNU CSLM Digital Asset Acquisiti | Reduce -90.0% | 0.06% | −0.53 |
| SPEGU Silver Pegasus Acquisition C | Reduce -82.6% | 0.10% | −0.47 |
| MKLYU McKinley Acquisition Corp. | Reduce -92.2% | 0.04% | −0.47 |
| PGZ Principal Real Estate Income | Sold out | 0.00% | −0.46 |
| CHAC Crane Harbor Acqu Corp. Class A | Reduce -76.7% | 0.14% | −0.45 |
| HDRN Hadron Energy Inc. | Reduce -49.5% | 0.38% | −0.40 |
| ZTR Virtus Total Return Fund Inc. | Sold out | 0.00% | −0.39 |
| HVMCU Highview Merger Corp. | Reduce -73.0% | 0.13% | −0.38 |
| CUB Lionheart Holdings Class A | Reduce -30.6% | 0.79% | −0.38 |
| EVAC.U Eqv Ventures Acquisition Cor | Reduce -80.7% | 0.09% | −0.37 |
| TLNCU Talon Capital Corp. | Reduce -91.0% | 0.04% | −0.36 |
| BCARU D Boral Arc Acquisition I Co. | Reduce -90.0% | 0.03% | −0.32 |
| DMA Destra Multi-Alternative | Reduce -54.6% | 0.26% | −0.31 |
| RANG Range Capital Acquisition Co. | Reduce -46.0% | 0.34% | −0.30 |
| BRR Columbus Circle Capital Co. Class A | Sold out | 0.00% | −0.28 |
| OYSEU Oyster Enterprises II Acquis | Sold out | 0.00% | −0.28 |
| CEE Central and Eastern Europe F | Sold out | 0.00% | −0.26 |
| NSLR Neostellar Capital Corp. | Sold out | 0.00% | −0.25 |
| TAVI Tavia Acquisition Corp. | Reduce -46.8% | 0.27% | −0.25 |
| MBVIU M3-Brigade Acquisition Vi Co. | Reduce -86.8% | 0.03% | −0.24 |
| VNMEU Vendome Acquisition Corp. I | Reduce -79.2% | 0.06% | −0.24 |
| BCIC BCP Investment Corp. | Reduce -17.7% | 1.00% | −0.23 |
| INFQ Infleqtion Inc. | Sold out | 0.00% | −0.20 |
| KTF DWS Municipal Income Trust | Sold out | 0.00% | −0.20 |
| TACO Berto Acquisition Corp. | Sold out | 0.00% | −0.17 |
| ECF Ellsworth Growth and Income | Reduce -14.3% | 0.70% | −0.15 |
| FRNM Freenome Inc. | Sold out | 0.00% | −0.12 |
| RDAGU Republic Digital Acquisition | Sold out | 0.00% | −0.12 |
| BLUW Blue Water Acquisition C-A | Sold out | 0.00% | −0.10 |
| MRLN Merlin Inc. | Reduce -69.0% | 0.04% | −0.10 |
| CEPT Cantor Equity Partners Class A | Sold out | 0.00% | −0.09 |
| CHECU Chenghe Acquisition III Co. | Sold out | 0.00% | −0.08 |
| DRDB Roman DBDR Acquisition Corp. | Reduce -0.7% | 1.59% | −0.06 |
| GTERU Globa Terra Acquisition Corp. | Sold out | 0.00% | −0.05 |
| BACC Blue Acquisition Corp. Class A | Reduce -5.0% | 0.67% | −0.05 |
| INACU Indigo Acquisition Corp. | Sold out | 0.00% | −0.04 |
| JACS Jackson Acquisition Co. Class A | Reduce -0.7% | 0.96% | −0.04 |
Portfolio Buys Q3 2025 → Q4 2025
| LEO BNY Mellon Strategic Muni | Add +104.2% | 2.11% | +1.06 |
| DSM BNYM Strat Muni BND | Add +26.1% | 4.57% | +0.96 |
| HEQ John Hancock Divers Inc. Fund | New | 0.92% | +0.92 |
| BPRE Bluerock Private Real Estate | New | 0.82% | +0.82 |
| FSK FS KKR Capital Corp. | Add +101.7% | 1.61% | +0.78 |
| OTF Blue Owl Technology Finance | Add +58.0% | 2.01% | +0.75 |
| BCSS Bain Capital GSS Inv- A | New | 0.67% | +0.67 |
| OBDC Blue Owl Capital Corp. | New | 0.66% | +0.66 |
| MESHU Meshflow Acquisition Corp. | New | 0.65% | +0.65 |
| DSACU Daedalus Special Acquisition | New | 0.61% | +0.61 |
| XAI OCTAGN FLT RAT & ALT INM | New | 0.55% | +0.55 |
| UTF Cohen & Steers Infrastructur | New | 0.55% | +0.55 |
| NCDL Nuveen Churchill Direct Lend | New | 0.52% | +0.52 |
| BBDC Barings BDC Inc. | Add +370.6% | 0.65% | +0.52 |
| BRK.A Berkshire Hathaway Inc. Class A | New | 0.51% | +0.51 |
| GFUZ General Fusion Group Ltd. | New | 0.50% | +0.50 |
| AIIA AI Infrastructure Ac-A | New | 0.48% | +0.48 |
| DYOR Insight Digital Partners I-A | New | 0.46% | +0.46 |
| CB Chubb Ltd. | Add +75.0% | 0.98% | +0.45 |
| MKLY McKinley Acquisition Co. Class A | New | 0.45% | +0.45 |
| SPEG Silver Pegasus Acquisition-A | New | 0.45% | +0.45 |
| NSTR Northstar Earth & Space Ente | New | 0.44% | +0.44 |
| STEW SRH Total Return Fund Inc. | Add +11.3% | 5.17% | +0.44 |
| IHD Voya Emrg MRKT Hi DVD Eqty | Add +55.1% | 1.27% | +0.42 |
| PGR Progressive Corp. | New | 0.41% | +0.41 |
| XCMUX MFS High Yield Municipal TR | Add +20.0% | 2.83% | +0.41 |
| HVMC Highview Merger Corp. Class A | New | 0.36% | +0.36 |
| SAC.U Safeguard Acquisition Corp. | New | 0.36% | +0.36 |
| GIW GIGCAPITAL8 Corp. Class A | New | 0.35% | +0.35 |
| TLNC Talon Capital Corp. Class A | New | 0.35% | +0.35 |
| NWFL Norwood Financial Corp. | Add +587.4% | 0.40% | +0.35 |
| CXH MFS Investment Grade Muni | Add +22.5% | 2.14% | +0.35 |
| EVAC Eqv Ventures Acquisition C-A | Add +902.8% | 0.38% | +0.34 |
| WENN Wen Acquisition Corp. Class A | Add +212.2% | 0.49% | +0.33 |
| BCAR D. Boral Arc Acquisit Class A | Add +100.0% | 0.62% | +0.30 |
| SCIIU SC II Acquisition Corp. | New | 0.30% | +0.30 |
| MRCC Monroe Capital Corp. | Add +46.7% | 1.36% | +0.30 |
| AIIA.U AI Infrastructure Acquisitio | New | 0.29% | +0.29 |
| DYORU Insight Digital Partners II | New | 0.29% | +0.29 |
| EVOXU Evolution Global Acquisition | New | 0.24% | +0.24 |
| OYSE Oyster Enterprises II Acq-A | Add +52.3% | 0.74% | +0.24 |
| MBVI M3-Brigade Acquisition Class A | New | 0.22% | +0.22 |
| XGLQX Clough Global Equity Fund | New | 0.22% | +0.22 |
| VNME Vendome Acquisition Corp. Class A | Add +88.1% | 0.48% | +0.22 |
| SCPQU Social Commerce Partners Cor | New | 0.20% | +0.20 |
| BIXIU Bitcoin Infrastructure Acqui | New | 0.17% | +0.17 |
| TDWDU Tailwind 2.0 Acquisition Cor | New | 0.17% | +0.17 |
| DMB BNY Mellon Muni BND Infra | Add +20.6% | 0.99% | +0.16 |
| CRANU Crane Harbor Acquisition Cor | New | 0.14% | +0.14 |
| ALX Alexander's Inc. | Add +24.4% | 1.37% | +0.14 |
Notes & Other Activity Q3 2025 → Q4 2025
| INFQ.WS Churchill Capital Corp. X | *W EXP 05/14/203 | Sold out | 62,485 | $222Kbefore exit |
| DRDBW Roman DBDR Acquisition -30 | *W EXP 10/31/203 | Reduce -0.8% | 339,377 | $193K |
| BACCR Blue Acquisition Corp.-RTS | RIGHT 06/11/2030 | Reduce -0.8% | 481,585 | $156K |
| DYNCW Dynamix Corp. - 29 | *W EXP 10/25/202 | Add +100.0% | 66,640 | $137K |
| HDRNW GIGCAPITAL7 Corp.-A - 29 | *W EXP 08/29/202 | Reduce -14.8% | 305,185 | $125K |
| VLOSW M3-Brigade Acquisition -30 | *W EXP 99/99/999 | Reduce -0.3% | 170,958 | $121K |
| RANGR Range Capital Acquisition Co. | RIGHT 99/99/9999 | Reduce -1.6% | 261,398 | $118K |
| LPAAW Launch One Acquisition - 29 | *W EXP 06/01/203 | Reduce -0.5% | 253,799 | $63K |
| SOULPOWER ACQUISITION CORP | RIGHT 99/99/9999 | Reduce -0.9% | 333,950 | $60K |
| ALFUW Centurion Acquisition - 29 | *W EXP 05/31/203 | Reduce -1.1% | 177,242 | $57K |
| AI INFRASTRUCTURE ACQUISITIO | RIGHT 99/99/9999 | New | 216,760 | $56K |
| OYSER Oyster Enterprises II Acquis | RIGHT 05/22/2030 | Add +56.2% | 312,349 | $54K |
| TONT.WS Graf Global Corp.- 29 | *W EXP 05/31/203 | Reduce -1.2% | 115,041 | $52K |
| BCARW D Boral Arc Acquisition - 30 | *W EXP 07/23/203 | Add +100.0% | 137,500 | $50K |
| GIWWR GIGCAPITAL8 Corp.-RTS | RIGHT 09/30/2030 | New | 159,263 | $49K |
| SPEGR Silver Pegasus Acquisition C | RIGHT 06/26/2030 | New | 197,587 | $47K |
| CCAQW Dune Acquisition Corp. II -30 | *W EXP 04/04/203 | Reduce -0.7% | 189,676 | $47K |
| GFUZW Spring Valley Acq Co. -30 | *W EXP 09/04/203 | Reduce -40.3% | 72,951 | $45K |
| SIMAW Sim Acquisition Corp. - 29 | *W EXP 06/01/203 | Reduce -0.2% | 208,373 | $45K |
| CUBWW Lionheart Holdings - WT | *W EXP 06/07/203 | Reduce -1.5% | 235,670 | $40K |
| KOYNW CSLM Digital Asset Acquisiti | *W EXP 08/28/203 | New | 100,000 | $40K |
| POLEW Andretti Acquisition Corp.-29 | *W EXP 06/01/203 | Reduce -1.3% | 126,075 | $36K |
| IBACR Ib Acquisition Corp.-RTS | RIGHT 09/28/2026 | Reduce -1.4% | 459,807 | $36K |
| JACKSON ACQUISITION CO II | RIGHT 99/99/9999 | Reduce -0.7% | 147,921 | $36K |
| DYORW Insight Digital Partners II | *W EXP 10/28/203 | New | 102,899 | $34K |
| BRRWW Columbus Circle Capital -30 | *W EXP 05/16/203 | Sold out | 25,000 | $30Kbefore exit |
| HVMCW Highview Merger Corp. - 30 | *W EXP 07/24/203 | Reduce -27.0% | 80,331 | $28K |
| FERAR Fifth Era Acquisition Corp. I | RIGHT 02/21/2030 | Reduce -2.6% | 70,161 | $28K |
| TAVIR Tavia Acquisition Corp. | RIGHT 11/26/2029 | Reduce -27.6% | 120,204 | $28K |
| BACQR Inflection Point Acquisition | RIGHT 11/04/2026 | Reduce -35.9% | 36,623 | $27K |
| SZZLR Sizzle Acquisition Corp. -RTS | RIGHT 04/02/2030 | Reduce -3.0% | 167,704 | $27K |
| INACR Indigo Acquisition Corp. | RIGHT 04/02/2027 | Add +9.1% | 178,479 | $27K |
| LEGT.WS Legato Merger Corp. III-29 | *W EXP 05/08/203 | Reduce -3.2% | 64,775 | $27K |
| VNMEW Vendome Acquisition Corp. I | *W EXP 07/03/202 | Add +88.1% | 105,717 | $26K |
| MKLYR McKinley Acquisition Corp. | RIGHT 07/25/2030 | Reduce -7.8% | 200,000 | $26K |
| TLNCW Talon Capital Corp.-30 | *W EXP 08/27/203 | Reduce -8.9% | 51,332 | $26K |
| NSTR.WS Viking Acquisition Corp. I | *W EXP 11/03/203 | New | 66,666 | $25K |
| CCIXW Churchill Capital Corp. I-29 | *W EXP 03/31/203 | Reduce -5.5% | 27,837 | $25K |
| LWACW Lightwave Acquisition Corp. | *W EXP 06/06/203 | Add +161.0% | 130,479 | $24K |
| XRPNW Armada Acquisition Corp - A | *W EXP 05/21/203 | Reduce -50.0% | 25,000 | $22K |
| EVAC.WS Eqv Ventures Acquisition Cor | *W EXP 06/30/203 | New | 55,862 | $20K |
| TBMCR Trailblazer Merger Corp.-RTS | RIGHT 04/21/2028 | Reduce -1.0% | 74,399 | $18K |
| IPEXR Inflection Point Acquisition | RIGHT 99/99/9999 | Reduce -52.6% | 21,272 | $17K |
| SBXWF Silverbox Corp. IV-A- 29 | *W EXP 08/19/202 | Reduce -1.2% | 58,997 | $17K |
| ALDFW Aldel Financial II Inc. - 29 | *W EXP 09/26/203 | Reduce -1.7% | 28,470 | $16K |
| LPBBW Launch Two Acquisition -29 | *W EXP 10/09/202 | Reduce -54.9% | 49,419 | $16K |
| UCFIW Iron Horse Acquisition Co.-29 | *W EXP 09/30/203 | Reduce -7.0% | 60,679 | $15K |
| BLUWW Blue Water Acquisition-CW26 | *W EXP 05/23/203 | Reduce -50.2% | 27,164 | $14K |
| RDAGW Republic Digital Acqu - 30 | *W EXP 05/01/203 | New | 23,996 | $14K |
| FIGXW Figx Capital Acquisition Cor | *W EXP 06/17/203 | New | 50,045 | $13K |
Showing the first 50 of 60.
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 |