Cable Car Capital, LP
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 15, 2025), Cable Car Capital, LP reported 44 stock positions worth $107.7 million. Its top holding was Alpha Cognition (ACOG) at 7.5% of the portfolio, followed by Paramount Global Class B (PARAA, 7.2%) and Oruka Therapeutics (ORKA, 6.2%). Compared with Q1 2025, it opened 10 new positions, sold out of 5, added to 10 and reduced 4. The biggest buy was Alpha Cognition (ACOG, shares +69%) and the biggest sale an exit from DT Cloud Acquisition (DYCQ).
- Most Recent 13F
- Q2 2026
- Location
- SAN FRANCISCO, CA
- CIK
- 0001699575
- Portfolio Value
- $107.7M (Q2 2025)
- SEC Filing
- 0001699575-25-000010 ↗ filed Aug 15, 2025
Holdings Value
Holdings 44 stocks · $107.7M
| ACOG Alpha Cognition Inc. | 7.53% | 869,002 | $8.1M | Add +68.8% |
| PARAA Paramount Global Class B | 7.19% | 600,000 | $7.7M | Add +20.0% |
| ORKA Oruka Therapeutics Inc. | 6.24% | 600,000 | $6.7M | Add +33.3% |
| FBRX Forte Biosciences Inc. | 6.00% | 500,000 | $6.5M | Add +127.7% |
| WBA Walgreens Boots Alliance Inc. | 5.33% | 500,000 | $5.7M | Add +150.0% |
| CLM Cornerstone Strategic Invest | 4.99% | 661,825 | $5.4M | Reduce -0.1% |
| SIFY Sify Technologies-Spon ADR | 4.81% | 1,127,713 | $5.2M | No change |
| MACI Melar Acquisition Corp. I-A | 4.81% | 492,500 | $5.2M | No change |
| HDRN Hadron Energy Inc. filed as GIGCAPITAL7 CORP | 4.80% | 498,000 | $5.2M | No change |
| CRF Cornerstone Total Return | 4.76% | 661,660 | $5.1M | Reduce -0.1% |
| SVIIF Spring Valley Acquisition-A | 4.64% | 425,000 | $5.0M | No change |
| PANL Pangaea Logistics Solutions | 4.30% | 985,623 | $4.6M | Add +2.1% |
| SYBX Synlogic Inc. | 3.91% | 3,312,219 | $4.2M | No change |
| BGL Blue Gold Ltd. Class A | 3.65% | 95,000 | $3.9M | New |
| FG MERGER II CORP | 3.60% | 392,000 | $3.9M | No change |
| AZ A2Z CUST2MATE Solutions Corp. | 3.07% | 312,500 | $3.3M | No change |
| KCHVU Kochav Defense Acquisition C | 2.30% | 242,953 | $2.5M | New |
| RDAC Rising Dragon Acquisition Co. | 1.80% | 188,000 | $1.9M | No change |
| YHNA YHN Acquisition I Ltd. | 1.64% | 171,000 | $1.8M | No change |
| XRPNU Armada Acquisition Corp. II | 1.42% | 150,000 | $1.5M | New |
| LITS Lite Strategy Inc. filed as MEI PHARMA INC | 1.40% | 611,440 | $1.5M | No change |
| FSHP Flag Ship Acquisition Corp. | 1.33% | 138,000 | $1.4M | No change |
| JOB Gee Group Inc. | 1.26% | 6,909,748 | $1.4M | Add +0.2% |
| BULL Webull Corp. | 0.97% | 87,500 | $1.0M | New |
| EURK Eureka Acquisition Corp. | 0.97% | 100,000 | $1.0M | No change |
| FVN Future Vision II Acquisition | 0.82% | 85,212 | $883K | No change |
| XSCDX LMP Capital and Income Fund | 0.72% | 50,000 | $780K | New |
| WTGUU Wintergreen Acquisition Corp. | 0.70% | 75,000 | $757K | New |
| CJMB Callan JMB Inc. | 0.62% | 130,862 | $671K | Add +0.1% |
| RNTX Rein Therapeutics Inc. | 0.55% | 420,000 | $588K | No change |
| PARAA Paramount Global Class A | 0.53% | 25,000 | $574K | New |
| SURG Surgepays Inc. | 0.52% | 181,667 | $565K | Reduce -64.7% |
| NB Niocorp Developments Ltd. | 0.38% | 173,964 | $405K | No change |
| ASSET ENTITIES INC | 0.37% | 107,000 | $401K | New |
| SNDL SNDL Inc. | 0.34% | 306,195 | $370K | No change |
| NXTC Nextcure Inc. | 0.32% | 758,141 | $349K | Add +13.1% |
| SGOV iShares 0-3 Month Treasury B | 0.31% | 3,292 | $331K | Add +1.0% |
| GOOG Alphabet Inc. Class C | 0.28% | 1,705 | $302K | Reduce -35.2% |
| IPWR Ideal Power Inc. | 0.21% | 50,000 | $227K | No change |
| ELBM Electra Battery Materials Co. | 0.21% | 207,860 | $223K | New |
| RFL Rafael Holdings Inc. Class B | 0.16% | 100,000 | $173K | New |
| MYND Mynd.ai Inc. | 0.10% | 118,975 | $106K | No change |
| PSHG Performance Shipping Inc. | 0.09% | 53,000 | $93K | No change |
| PYXS Pyxis Oncology Inc. | 0.06% | 61,606 | $68K | No change |
Options reported separately and not counted above: STRATEGY INC calls ($80.8M), ASSET ENTITIES INC puts ($26K).
Other holdings (21): bonds, preferreds, convertibles and warrants · $123.3M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| STRATEGY INC (MSTR 0.625 03/15/30) | NOTE 0.625% 3/1 · principal | 43,200,000 | $119.4M | New |
| HTZWW Hertz Global Hldgs Inc. -CW51 | *W EXP 06/30/205 | 625,000 | $2.3M | New |
| ENOVIX CORPORATION | DEBT 3.000% 5/0 · principal | 1,000,000 | $964K | No change |
| AVPTW Avepoint Inc.-CW24 | *W EXP 09/18/202 | 20,000 | $155K | New |
| FGMCR FG Merger II Corp. | RIGHT 02/11/2030 | 392,000 | $108K | No change |
| HDRNW GIGCAPITAL7 Corp.-A - 29 | *W EXP 08/29/202 | 498,000 | $75K | No change |
| MACIW Melar Acquisition Corp. I -29 | *W EXP 06/01/203 | 246,250 | $74K | No change |
| DYCQR DT Cloud Acquisition Cor-RTS | RIGHT 02/14/2029 | 299,800 | $51K | No change |
| SBCWW Pono Capital Two Inc. -27 | *W EXP 09/17/202 | 196,000 | $38K | No change |
| AAM.WS Aa Mission Acquisition -30 | *W EXP 08/01/203 | 375,000 | $35K | No change |
| RDACR Rising Dragon Acquisition Co. | RIGHT 11/15/2028 | 188,000 | $28K | No change |
| YHNAR YHN Acquisition I Ltd. | RIGHT 08/15/2029 | 171,000 | $28K | No change |
| MPTI.WS M-Tron Industries Inc. -28 | *W EXP 04/25/202 | 22,700 | $24K | New |
| EURKR Eureka Acquisition Corp.-RTS | RIGHT 07/03/2026 | 100,000 | $22K | No change |
| FSHPR Flag Ship Acquisition Corp. | RIGHT 03/31/2026 | 138,000 | $18K | No change |
| FVNNR Future Vision II Acquisi-RTS | RIGHT 06/29/2029 | 85,212 | $16K | No change |
| CCGWW Cheche Group Inc. - 28 | *W EXP 10/01/203 | 392,763 | $10K | No change |
| EMCRF Embrace Change Acq-Rights | RIGHT 10/25/2026 | 94,000 | $9K | No change |
| EONR.WS HNR Acquisition Corp. -CW23 | *W EXP 11/15/202 | 49,116 | $4K | No change |
| LMP CAPITAL AND INCOME FUND | RIGHT 07/11/2025 | 50,001 | $4K | New |
| EMCWF Embrace Change Acquisitio-26 | *W EXP 10/25/202 | 94,000 | $2K | No change |
Total filed on the 13F, all lines: $231.1M.
Portfolio Sells Q1 2025 → Q2 2025
| DYCQ DT Cloud Acquisition Corp. | Sold out | 0.00% | −3.69 |
| XJQCX Nuveen Credit Strategies Inc. | Sold out | 0.00% | −3.10 |
| AIMTF Aimfinity Investment-Subunit | Sold out | 0.00% | −2.80 |
| AEROVATE THERAPEUTICS INC | Sold out | 0.00% | −1.70 |
| IMMX Immix Biopharma Inc. | Sold out | 0.00% | −1.51 |
| CRF Cornerstone Total Return | Reduce -0.1% | 4.76% | −0.72 |
| SURG Surgepays Inc. | Reduce -64.7% | 0.52% | −0.70 |
| CLM Cornerstone Strategic Invest | Reduce -0.1% | 4.99% | −0.68 |
| GOOG Alphabet Inc. Class C | Reduce -35.2% | 0.28% | −0.19 |
Portfolio Buys Q1 2025 → Q2 2025
| ACOG Alpha Cognition Inc. | Add +68.8% | 7.53% | +4.53 |
| FBRX Forte Biosciences Inc. | Add +127.7% | 6.00% | +4.04 |
| BGL Blue Gold Ltd. Class A | New | 3.65% | +3.65 |
| WBA Walgreens Boots Alliance Inc. | Add +150.0% | 5.33% | +2.76 |
| KCHVU Kochav Defense Acquisition C | New | 2.30% | +2.30 |
| XRPNU Armada Acquisition Corp. II | New | 1.42% | +1.42 |
| BULL Webull Corp. | New | 0.97% | +0.97 |
| ORKA Oruka Therapeutics Inc. | Add +33.3% | 6.24% | +0.93 |
| XSCDX LMP Capital and Income Fund | New | 0.72% | +0.72 |
| WTGUU Wintergreen Acquisition Corp. | New | 0.70% | +0.70 |
| PARAA Paramount Global Class A | New | 0.53% | +0.53 |
| ASSET ENTITIES INC | New | 0.37% | +0.37 |
| PARAA Paramount Global Class B | Add +20.0% | 7.19% | +0.30 |
| ELBM Electra Battery Materials Co. | New | 0.21% | +0.21 |
| RFL Rafael Holdings Inc. Class B | New | 0.16% | +0.16 |
| NXTC Nextcure Inc. | Add +13.1% | 0.32% | −0.05 |
| CJMB Callan JMB Inc. | Add +0.1% | 0.62% | −0.05 |
| SGOV iShares 0-3 Month Treasury B | Add +1.0% | 0.31% | −0.07 |
| JOB Gee Group Inc. | Add +0.2% | 1.26% | −0.34 |
| PANL Pangaea Logistics Solutions | Add +2.1% | 4.30% | −0.99 |
Options Activity Q1 2025 → Q2 2025
| STRATEGY INC | call | New | 200,000 | $80.8M |
| ASSET ENTITIES INC | put | New | 7,000 | $26K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q1 2025 → Q2 2025
| STRATEGY INC (MSTR 0.625 03/15/30) | NOTE 0.625% 3/1 · principal | New | 43,200,000 | $119.4M |
| HTZWW Hertz Global Hldgs Inc. -CW51 | *W EXP 06/30/205 | New | 625,000 | $2.3M |
| AVPTW Avepoint Inc.-CW24 | *W EXP 09/18/202 | New | 20,000 | $155K |
| MPTI.WS M-Tron Industries Inc. -28 | *W EXP 04/25/202 | New | 22,700 | $24K |
| AIMWF Aimfinity Investment-CW27 | *W EXP 99/99/999 | Sold out | 200,000 | $16Kbefore exit |
| LMP CAPITAL AND INCOME FUND | RIGHT 07/11/2025 | New | 50,001 | $4K |
| SMNRW Denali Capital Acq-CW27 | *W EXP 99/99/999 | Sold out | 45,000 | $3Kbefore exit |
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 | 146 | $4.6B | MU, MICRON TECHNOLOGY INC, NVDA, NVIDIA CORPORATION, MSFT |
| Q1 2026 | 89 | $234.0M | PSLV, SIFY, ABEO, FBRX, ORKA |
| Q4 2025 | 77 | $1.6B | MSFT, NVDA, AMZN, META, PDD |
| Q3 2025 | 55 | $133.3M | SIFY, DEFT, ORKA, FBRX, ACOG |
| Q2 2025Amended | 44 | $107.7M | ACOG, PARAA, ORKA, FBRX, WBA |
| Q1 2025 | 39 | $86.9M | PARAA, HDRN, MACI, CLM, SVIIF |
| Q4 2024 | 60 | $1.3B | NVDA, META, MSTR, AMZN, TSLA |
| Q3 2024 | 45 | $88.8M | ORKA, PANL, IVCBF, CRF, CLM |
| Q2 2024 | 40 | $90.9M | ARCA BIOPHARMA INC, MACIU, PANL, MGRC, CRF |
| Q1 2024 | 35 | $67.4M | ARCA BIOPHARMA INC, PANL, SYBX, CLM, CRF |