Decagon Asset Management LLP

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Decagon Asset Management LLP reported 38 stock positions worth $493.1 million. Its top holding was Norfolk Southern (NSC) at 11.8% of the portfolio, followed by Roku (ROKU, 11.0%) and Penumbra (PEN, 9.1%). Compared with Q1 2026, it opened 19 new positions, sold out of 10, added to 10 and reduced 7. The biggest buy was a new position in Roku (ROKU) and the biggest sale an exit from Electronic Arts (EA).

Most Recent 13F
Q2 2026
Location
LONDON, X0
CIK
0001950677
Portfolio Value
$493.1M (Q2 2026)
SEC Filing
0001950677-26-000023 ↗ filed Aug 14, 2026

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q4 2024: $216.9M Q4 2024 Q1 2025: $108.7M Q1 2025 Q2 2025: $126.0M Q2 2025 Q3 2025: $186.2M Q3 2025 Q4 2025: $235.4M Q4 2025 Q1 2026: $381.4M Q1 2026 Q2 2026: $493.1M $493.1M Q2 2026

Holdings 38 stocks · $493.1M

NSC Norfolk Southern Corp. 11.76% 184,363 $58.0M Reduce -14.7%
ROKU Roku Inc. 11.03% 393,636 $54.4M New
PEN Penumbra Inc. 9.09% 142,001 $44.8M Reduce -15.3%
SEM Select Medical Holdings Corp. 9.09% 2,715,536 $44.8M New
TECH Bio-Techne Corp. 8.09% 564,664 $39.9M New
CLBR Colombier Acq III Class A 3.48% 1,672,035 $17.1M Add +12.3%
CUB Lionheart Holdings Class A 3.28% 1,500,000 $16.2M New
NSTR Northstar Earth & Space Ente filed as VIKING ACQUISITION CORP I 2.76% 1,330,620 $13.6M New
QLEP Quantum Leap Acqui Cor Class A 2.43% 1,204,380 $12.0M New
OACC Oaktree Acquisition Corp. I-A 2.37% 1,091,327 $11.7M Add +8.9%
TRAD.U Apex Tech Acquisition Inc. 2.27% 1,101,744 $11.2M Add +8.9%
HLXC Helix Acquisition Corp. Class A 2.25% 1,044,766 $11.1M Add +30.8%
ATII Archimedes Tech Spac Partner 2.05% 937,829 $10.1M New
NWAX New America Acquisition Class A 2.05% 995,209 $10.1M Add +12.3%
GLED Galaxyedge Acquisition Corp. 2.00% 990,000 $9.8M No change
BHAV Bhav Acquisition Corp. Class A 1.99% 990,000 $9.8M No change
QRED Quasaredge Acquisition Corp. 1.99% 990,000 $9.8M New
ATLQU Jab Acquisition Corp. I 1.85% 908,000 $9.1M New
OTAI Starlink AI Acquisition Corp. 1.83% 913,770 $9.0M New
GIX GIGCAPITAL9 Corp. Class A 1.72% 851,940 $8.5M Add +12.3%
DYNC Dynamix Corp. 1.68% 766,533 $8.3M New
MEVO M Evo Global Acquisitio Class A filed as M EVO GBL ACQUISITION CORP I 1.61% 798,398 $7.9M Reduce -11.1%
PONO Pono Capital Four Inc. Class A 1.50% 743,610 $7.4M Add +12.4%
KBON Karbon Capital Partners Class A 1.48% 720,284 $7.3M Add +10.2%
ALPXU Alpex Acquisition Corp. 1.43% 702,988 $7.0M New
KCHV Kochav Defense Acquisition-A 1.41% 672,619 $7.0M Add +12.4%
PLUN.U Plutonian Acquisition Corp. I 1.20% 585,000 $5.9M New
MTAL Metals Acquisition II Class A 0.89% 431,397 $4.4M Add +25.4%
BEBE Tge Value Creative Solu Class A 0.88% 435,172 $4.3M Reduce -5.7%
FMAC Future Money Acquisition Cor 0.86% 425,128 $4.2M Reduce -49.6%
KEYYU Keystone Acquisition Corp. 0.76% 375,000 $3.8M New
APMC Ampercap Acquisition Co. 0.71% 351,990 $3.5M New
XFLH XFLH Capital Corp. 0.64% 315,238 $3.1M Reduce -25.7%
WENC West Enclave Merger Corp. 0.55% 271,780 $2.7M New
FXACU Fortunex Acquisition Corp. 0.33% 163,412 $1.6M New
SAAQ Space Asset Acquisition Class A 0.32% 154,900 $1.6M New
SYNA Synaptics Inc. 0.25% 10,000 $1.2M New
IACO Idea Acquisition Corp. Class-A 0.13% 64,442 $639K Reduce -79.8%

Options reported separately and not counted above: WBD puts ($13.9M), TECH calls ($9.1M), OGN calls ($619K).

Other holdings (63): bonds, preferreds, convertibles and warrants · $8.0M (not counted above)
SecurityClassShares / PrincipalValueChange
ATIIW Archimedes Tech-30 *W EXP 10/15/202 331,302$726KNew
NHICW Newhold Investment Corp. - 30 *W EXP 01/30/203 334,030$701KNew
NWAX.WS New America Acquisition I Co. *W EXP 99/99/999 482,764$290KAdd +9.0%
HCACR Hall Chadwick Acquisi-Rights RIGHT 11/20/2030 985,911$286KNew
GSRFR GSR IV Acquisition Corp.-RTS RIGHT 08/22/2030 109,028$263KNo change
QUASAREDGE ACQUISITION CORP RIGHT 04/15/2027 990,000$248KNew
KCHVR Kochav Defense Acquisition-R RIGHT 05/21/2030 1,212,059$245KAdd +12.3%
EGHAR Egh Acquisition Corp.-RTS RIGHT 99/99/9999 646,873$243KNo change
AXINR Axiom Intelligence Acquisiti RIGHT 06/10/2030 613,660$231KAdd +75.3%
BHAVR Bhav Acquisition Corp.-RTS RIGHT 03/18/2031 990,000$228KNew
SBCWW Pono Capital Two Inc. -27 *W EXP 09/17/202 944,992$217KNo change
STARLINK AI ACQUISITION CORP RIGHT 04/30/2027 913,770$201KNew
MEVOW M Evo Global Acq -31 *W EXP 02/18/203 504,612$187KAdd +12.3%
DBCAW D. Boral Acquisition I Corp. *W EXP 01/30/203 475,947$181KAdd +265.0%
CLBR.WS Colombier Acquisition - 31 *W EXP 12/31/203 208,967$167KAdd +12.3%
NSTR.WS Viking Acquisition Corp. I *W EXP 11/03/203 184,650$166KNew
GALAXYEDGE ACQUISITION CO-R RIGHT 99/99/9999 990,000$164KNew
GIXXR GIGCAPITAL9 Corp.-RTS RIGHT 12/01/2030 625,675$163KReduce -17.5%
TVACW Texas Ventures Acq -31 *W EXP 04/23/203 303,744$161KAdd +37.4%
EVOXW Evolution Global Acquisition *W EXP 10/22/203 404,156$160KAdd +9.5%
QLEP.WS Quantum Leap Acqu-31 *W EXP 03/11/202 1,204,380$157KNew
PONOR Pono Capital Four Inc.-RTS RIGHT 02/20/2031 742,310$156KNew
OACCW Oaktree Acquisition III -31 *W EXP 09/01/203 162,702$153KNo change
FMACR Future Money Acquisition-RT RIGHT 03/16/2031 850,128$145KAdd +0.7%
KFIIR K&F Growth Acquisition Corp. RIGHT 08/29/2031 1,116,707$140KAdd +27.6%
MTAL.WS Metals Acquisition Corp. II *W EXP 06/30/203 124,857$137KAdd +9.0%
BEBE.WS Tge Value Creative Solutions *W EXP 09/16/203 291,740$114KAdd +8.9%
BCSS.WS Bain Capital GSS Investment *W EXP 01/01/202 158,463$108KAdd +12.8%
ACGCW Acp Holdings Acquisition Cor *W EXP 03/30/203 331,299$99KNew
KBONW Karbon Capital Partners Corp. *W EXP 12/11/203 183,350$99KAdd +12.2%
BIII.WS Black Spade Acquisition III *W EXP 99/99/999 234,613$94KAdd +12.3%
IRAB.WS Iris Acq Corp. II -31 *W EXP 08/15/203 353,187$88KAdd +23.6%
NBRGR Newbridge Acquisitio- Rights RIGHT 09/25/2030 350,000$87KNo change
SHREYA ACQUISITION GROUP-RTS RIGHT 12/31/2027 483,178$87KNew
SAC.WS Safeguard Acquisition Corp. *W EXP 99/99/999 146,890$87KAdd +12.3%
PCAPW Procap Acq Corp. A -30 *W EXP 05/16/203 245,643$79KAdd +9.0%
COPL.WS Copley Acquisition Corp. -30 *W EXP 99/99/999 754,681$65KAdd +113.2%
HVMCW Highview Merger Corp. - 30 *W EXP 07/24/203 177,923$62KAdd +77.9%
APACR Stonebridge Acquisition II C RIGHT 09/09/2030 370,703$59KAdd +0.8%
APMCR Ampercap Acquisition Co. Class R RIGHT 05/22/2031 351,990$53KNew
WEST ENCLAVE MERGER CORP-RT RIGHT 99/99/9999 270,750$49KNew
XFLH CAPITAL CORP RIGHT 12/31/2029 524,705$47KAdd +23.6%
VERNAL CAPITAL ACQUISITI-RTS RIGHT 10/31/2027 235,940$46KNew
MCGAW Yorkville Acquisition - 30 *W EXP 06/06/203 175,268$45KNo change
IACOW Idea Acquisition Corp.-30 *W EXP 01/06/203 131,872$45KAdd +24.4%
CAPNR Cayson Acquisition Corp. RIGHT 99/99/9999 173,392$41KAdd +68.9%
AI INFRASTRUCTURE ACQUISITIO RIGHT 99/99/9999 191,716$40KAdd +8.3%
CHPGR Championsgate Acquisition Co. RIGHT 05/14/2030 289,253$39KAdd +68.1%
TGE.WS Generation Essentials - 30 *W EXP 02/15/202 203,834$37KNo change
OYSER Oyster Enterprises II Acquis RIGHT 05/22/2030 307,542$34KAdd +68.0%
RANGR Range Capital Acquisition Co. RIGHT 99/99/9999 116,572$33KNo change
PTORW Praetorian Acquisition Corp. *W EXP 01/16/203 77,677$30KNo change
YCY.WS Aa Mission Acquisition -31 *W EXP 07/23/203 130,692$29KNo change
BDCIW BTC Development Corp. - 30 *W EXP 09/11/203 79,481$28KAdd +54.4%
SAGU.WS Shreya Acquisition Group *W EXP 04/30/203 483,178$27KNew
BACCR Blue Acquisition Corp.-RTS RIGHT 06/11/2030 33,666$26KNew
SORNW Soren Acquisition Corp. *W EXP 12/19/203 89,826$26KAdd +25.3%
IBACR Ib Acquisition Corp.-RTS RIGHT 09/28/2026 159,411$18KNo change
DAAQW Digital Asset Acquisition-30 *W EXP 04/01/203 35,075$17KNo change
NPACW New Providence Acq A -CW28 *W EXP 04/24/203 48,000$13KAdd +8.8%
ALISR Calisa Acquisition Corp. RIGHT 09/11/2030 15,135$12KNo change
RFAMR RF Acquisition Corp. III RIGHT 01/28/2031 100,811$11KNo change
CDTTW Murphy Canyon Acq-CW27 *W EXP 09/22/202 400,000$7KNo change

Total filed on the 13F, all lines: $501.1M.

Portfolio Sells Q1 2026 → Q2 2026

EA Electronic Arts Inc. Sold out 0.00% −7.14
CWAN Clearwater Analytics HDS-A Sold out 0.00% −7.06
HOLX Hologic Inc. Sold out 0.00% −5.45
MCW Mister Car Wash Inc. Sold out 0.00% −5.34
PEN Penumbra Inc. Reduce -15.3% 9.09% −5.33
NSC Norfolk Southern Corp. Reduce -14.7% 11.76% −4.49
MBC Masterbrand Inc. Sold out 0.00% −3.37
GTLS Chart Industries Inc. Sold out 0.00% −2.87
BCSS Bain Capital GSS Inv- A Sold out 0.00% −1.74
FMAC Future Money Acquisition Cor Reduce -49.6% 0.86% −1.35
NBRG Newbridge Acquisition Ltd. Class A Sold out 0.00% −0.91
MEVO M Evo Global Acquisitio Class A Reduce -11.1% 1.61% −0.71
IACO Idea Acquisition Corp. Class-A Reduce -79.8% 0.13% −0.70
PTOR Praetorian Acquisition Cor-A Sold out 0.00% −0.60
XFLH XFLH Capital Corp. Reduce -25.7% 0.64% −0.46
BEBE Tge Value Creative Solu Class A Reduce -5.7% 0.88% −0.32
RFAM RF Acquisition Corp. III Sold out 0.00% −0.26

Portfolio Buys Q1 2026 → Q2 2026

ROKU Roku Inc. New 11.03% +11.03
SEM Select Medical Holdings Corp. New 9.09% +9.09
TECH Bio-Techne Corp. New 8.09% +8.09
CUB Lionheart Holdings Class A New 3.28% +3.28
NSTR Northstar Earth & Space Ente New 2.76% +2.76
QLEP Quantum Leap Acqui Cor Class A New 2.43% +2.43
ATII Archimedes Tech Spac Partner New 2.05% +2.05
QRED Quasaredge Acquisition Corp. New 1.99% +1.99
ATLQU Jab Acquisition Corp. I New 1.85% +1.85
OTAI Starlink AI Acquisition Corp. New 1.83% +1.83
DYNC Dynamix Corp. New 1.68% +1.68
ALPXU Alpex Acquisition Corp. New 1.43% +1.43
PLUN.U Plutonian Acquisition Corp. I New 1.20% +1.20
KEYYU Keystone Acquisition Corp. New 0.76% +0.76
APMC Ampercap Acquisition Co. New 0.71% +0.71
WENC West Enclave Merger Corp. New 0.55% +0.55
FXACU Fortunex Acquisition Corp. New 0.33% +0.33
SAAQ Space Asset Acquisition Class A New 0.32% +0.32
SYNA Synaptics Inc. New 0.25% +0.25
HLXC Helix Acquisition Corp. Class A Add +30.8% 2.25% +0.13
MTAL Metals Acquisition II Class A Add +25.4% 0.89% −0.02
KCHV Kochav Defense Acquisition-A Add +12.4% 1.41% −0.19
PONO Pono Capital Four Inc. Class A Add +12.4% 1.50% −0.23
GIX GIGCAPITAL9 Corp. Class A Add +12.3% 1.72% −0.24
KBON Karbon Capital Partners Class A Add +10.2% 1.48% −0.25
NWAX New America Acquisition Class A Add +12.3% 2.05% −0.28
TRAD.U Apex Tech Acquisition Inc. Add +8.9% 2.27% −0.39
OACC Oaktree Acquisition Corp. I-A Add +8.9% 2.37% −0.41
CLBR Colombier Acq III Class A Add +12.3% 3.48% −0.45

Options Activity Q1 2026 → Q2 2026

WBD Warner Bros Discovery Inc. put New 523,200 $13.9M
TECH Bio-Techne Corp. call New 128,600 $9.1M
EA Electronic Arts Inc. put Sold out 4,800 $979Kbefore exit
OGN Organon & Co. call New 45,700 $619K
EA Electronic Arts Inc. call Sold out 1,500 $306Kbefore exit
CWAN Clearwater Analytics HDS-A put Sold out 700 $17Kbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q1 2026 → Q2 2026

ATIIW Archimedes Tech-30 *W EXP 10/15/202 New 331,302 $726K
NHICW Newhold Investment Corp. - 30 *W EXP 01/30/203 New 334,030 $701K
NWAX.WS New America Acquisition I Co. *W EXP 99/99/999 Add +9.0% 482,764 $290K
HCACR Hall Chadwick Acquisi-Rights RIGHT 11/20/2030 New 985,911 $286K
QUASAREDGE ACQUISITION CORP RIGHT 04/15/2027 New 990,000 $248K
KCHVR Kochav Defense Acquisition-R RIGHT 05/21/2030 Add +12.3% 1,212,059 $245K
AXINR Axiom Intelligence Acquisiti RIGHT 06/10/2030 Add +75.3% 613,660 $231K
BHAVR Bhav Acquisition Corp.-RTS RIGHT 03/18/2031 New 990,000 $228K
STARLINK AI ACQUISITION CORP RIGHT 04/30/2027 New 913,770 $201K
MEVOW M Evo Global Acq -31 *W EXP 02/18/203 Add +12.3% 504,612 $187K
DBCAW D. Boral Acquisition I Corp. *W EXP 01/30/203 Add +265.0% 475,947 $181K
CLBR.WS Colombier Acquisition - 31 *W EXP 12/31/203 Add +12.3% 208,967 $167K
NSTR.WS Viking Acquisition Corp. I *W EXP 11/03/203 New 184,650 $166K
GALAXYEDGE ACQUISITION CO-R RIGHT 99/99/9999 New 990,000 $164K
GIXXR GIGCAPITAL9 Corp.-RTS RIGHT 12/01/2030 Reduce -17.5% 625,675 $163K
TVACW Texas Ventures Acq -31 *W EXP 04/23/203 Add +37.4% 303,744 $161K
EVOXW Evolution Global Acquisition *W EXP 10/22/203 Add +9.5% 404,156 $160K
QLEP.WS Quantum Leap Acqu-31 *W EXP 03/11/202 New 1,204,380 $157K
PONOR Pono Capital Four Inc.-RTS RIGHT 02/20/2031 New 742,310 $156K
FMACR Future Money Acquisition-RT RIGHT 03/16/2031 Add +0.7% 850,128 $145K
KFIIR K&F Growth Acquisition Corp. RIGHT 08/29/2031 Add +27.6% 1,116,707 $140K
MTAL.WS Metals Acquisition Corp. II *W EXP 06/30/203 Add +9.0% 124,857 $137K
BEBE.WS Tge Value Creative Solutions *W EXP 09/16/203 Add +8.9% 291,740 $114K
BCSS.WS Bain Capital GSS Investment *W EXP 01/01/202 Add +12.8% 158,463 $108K
ACGCW Acp Holdings Acquisition Cor *W EXP 03/30/203 New 331,299 $99K
KBONW Karbon Capital Partners Corp. *W EXP 12/11/203 Add +12.2% 183,350 $99K
BIII.WS Black Spade Acquisition III *W EXP 99/99/999 Add +12.3% 234,613 $94K
IRAB.WS Iris Acq Corp. II -31 *W EXP 08/15/203 Add +23.6% 353,187 $88K
SHREYA ACQUISITION GROUP-RTS RIGHT 12/31/2027 New 483,178 $87K
SAC.WS Safeguard Acquisition Corp. *W EXP 99/99/999 Add +12.3% 146,890 $87K
PCAPW Procap Acq Corp. A -30 *W EXP 05/16/203 Add +9.0% 245,643 $79K
COPL.WS Copley Acquisition Corp. -30 *W EXP 99/99/999 Add +113.2% 754,681 $65K
HVMCW Highview Merger Corp. - 30 *W EXP 07/24/203 Add +77.9% 177,923 $62K
APACR Stonebridge Acquisition II C RIGHT 09/09/2030 Add +0.8% 370,703 $59K
APMCR Ampercap Acquisition Co. Class R RIGHT 05/22/2031 New 351,990 $53K
WEST ENCLAVE MERGER CORP-RT RIGHT 99/99/9999 New 270,750 $49K
XFLH CAPITAL CORP RIGHT 12/31/2029 Add +23.6% 524,705 $47K
VERNAL CAPITAL ACQUISITI-RTS RIGHT 10/31/2027 New 235,940 $46K
IACOW Idea Acquisition Corp.-30 *W EXP 01/06/203 Add +24.4% 131,872 $45K
CAPNR Cayson Acquisition Corp. RIGHT 99/99/9999 Add +68.9% 173,392 $41K
AI INFRASTRUCTURE ACQUISITIO RIGHT 99/99/9999 Add +8.3% 191,716 $40K
CHPGR Championsgate Acquisition Co. RIGHT 05/14/2030 Add +68.1% 289,253 $39K
OYSER Oyster Enterprises II Acquis RIGHT 05/22/2030 Add +68.0% 307,542 $34K
BDCIW BTC Development Corp. - 30 *W EXP 09/11/203 Add +54.4% 79,481 $28K
SAGU.WS Shreya Acquisition Group *W EXP 04/30/203 New 483,178 $27K
BACCR Blue Acquisition Corp.-RTS RIGHT 06/11/2030 New 33,666 $26K
SORNW Soren Acquisition Corp. *W EXP 12/19/203 Add +25.3% 89,826 $26K
MLACR Mountain Lake Acquisition Co. RIGHT 11/15/2028 Sold out 69,665 $18Kbefore exit
NPACW New Providence Acq A -CW28 *W EXP 04/24/203 Add +8.8% 48,000 $13K
ALCWF Alchemy Investments Acqui-28 *W EXP 11/30/202 Sold out 13,179 $2Kbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 38$493.1MNSC, ROKU, PEN, SEM, TECH
Q1 2026 29$381.4MNSC, PEN, EA, CWAN, HOLX
Q4 2025 27$235.4MHOLX, EXAS, NSC, CYBR, RNAM
Q3 2025 22$186.2MCYBR, GTLS, AL, MCGA, ELME
Q2 2025 21$126.0MSKX, K, ARES ACQUISITION CORP II, BASE, KCHVU
Q1 2025 18$108.7MHES, AZEK, COLOMBIER ACQUISITION CORP, SLB, RAC.U
Q4 2024Amended 18$216.9MESGR, HES, SMAR, AGS, COLOMBIER ACQUISITION CORP