Gritstone Asset Management LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 23, 2026), Gritstone Asset Management LLC reported 75 stock positions worth $102.1 million. Its top holding was Ares Capital (ARCC) at 8.9% of the portfolio, followed by Eqv Ventures Acquisition C-A (FTW, 4.1%) and Oaktree Acquisition Corp. I-A (OACC, 4.1%). Compared with Q3 2025, it opened 24 new positions, sold out of 7, added to 2 and reduced 2. The biggest buy was a new position in New America Acquisition I (NWAX.U) and the biggest sale Churchill Capital Corp. Ix (CCIX, shares −58%).
- Most Recent 13F
- Q2 2026
- Location
- Bethesda, MD
- CIK
- 0001964236
- Portfolio Value
- $102.1M (Q4 2025)
- SEC Filing
- 0001705819-26-000012 ↗ filed Jan 23, 2026
Holdings Value
Holdings 75 stocks · $102.1M
| ARCC Ares Capital Corp. | 8.86% | 446,855 | $9.0M | Add +0.0% |
| FTW Eqv Ventures Acquisition C-A | 4.14% | 402,722 | $4.2M | No change |
| OACC Oaktree Acquisition Corp. I-A | 4.09% | 394,908 | $4.2M | No change |
| ALDF Aldel Financial II Inc. | 4.05% | 394,214 | $4.1M | No change |
| BEAG Bold Eagle Acquisition Cor-A | 3.57% | 344,488 | $3.6M | No change |
| ALF Centurion Acquisition Corp. | 3.04% | 290,988 | $3.1M | No change |
| CUB Lionheart Holdings Class A | 3.03% | 291,012 | $3.1M | No change |
| VCIC Vine Hill Capital Class A | 2.08% | 196,935 | $2.1M | No change |
| MRLN Merlin Inc. filed as INFLECTION POINT ACQUISITION | 2.07% | 196,794 | $2.1M | No change |
| RAC Rithm Acquisition Corp. Class A | 2.01% | 197,598 | $2.1M | No change |
| ONEN One Nuclear Energy Inc. filed as HENNESSY CAP INVT CORP VII | 2.01% | 197,899 | $2.0M | No change |
| AACB Artius II Acquisition Inc. Class A | 1.99% | 197,656 | $2.0M | No change |
| NWAX.U New America Acquisition I Co. | 1.99% | 195,000 | $2.0M | New |
| CCIX Churchill Capital Corp. Ix | 1.94% | 186,560 | $2.0M | Reduce -58.2% |
| TONT Graf Global Corp. Class A | 1.84% | 174,665 | $1.9M | No change |
| CHAC Crane Harbor Acqu Corp. Class A | 1.57% | 149,140 | $1.6M | No change |
| LPBB Launch Two Acquisition Class A | 1.51% | 146,820 | $1.5M | No change |
| KFII K&F Growth Acquisition Cor-A | 1.51% | 148,743 | $1.5M | No change |
| TLNC Talon Capital Corp. Class A | 1.49% | 150,000 | $1.5M | No change |
| BCAR D. Boral Arc Acquisit Class A | 1.47% | 150,000 | $1.5M | No change |
| LFACU Leapfrog Acquisition Corp. | 1.47% | 150,000 | $1.5M | New |
| SVCC Stellar V Capital Corp. Class A | 1.36% | 133,770 | $1.4M | No change |
| NHIC Newhold Investment Cor III-A | 1.25% | 123,541 | $1.3M | No change |
| HVMC Highview Merger Corp. Class A | 1.24% | 127,021 | $1.3M | No change |
| ALUB.U Alussa Energy Acquisition Co. | 1.24% | 125,000 | $1.3M | New |
| SOCA Solarius Capital Acquis Class A | 1.23% | 125,000 | $1.3M | No change |
| OBA Oxley Bridge Acquisitio Class A | 1.23% | 124,293 | $1.3M | No change |
| BLRKU Bluerock Acquisition Corp. | 1.22% | 125,000 | $1.3M | New |
| OTGA Otg Acquisition Corp. I Class A | 1.22% | 125,000 | $1.3M | No change |
| LPCVU Launchpad Cadenza Acquisitio | 1.22% | 125,000 | $1.2M | New |
| SVAQU Silicon Valley Acquisition C | 1.22% | 125,000 | $1.2M | New |
| LATA Galata Acqu Corp. II Class A | 1.04% | 106,256 | $1.1M | Add +18.1% |
| FACT Fact II Acquisition Corp. | 1.02% | 100,000 | $1.0M | No change |
| ATII Archimedes Tech Spac Partner | 1.01% | 99,081 | $1.0M | No change |
| KRSP Rice Acquisition Corp. 3-A | 1.00% | 100,000 | $1.0M | New |
| FAC Factorial Energy Inc. filed as CARTESIAN GROWTH CORP III | 1.00% | 98,853 | $1.0M | No change |
| GFUZ General Fusion Group Ltd. filed as SPRING VY ACQUISITION CORP I | 0.99% | 100,000 | $1.0M | No change |
| GSHR Gesher Acquisition Corp. II-A | 0.99% | 98,832 | $1.0M | No change |
| TACH Titan Acquisition Corp. Class A | 0.99% | 98,764 | $1.0M | No change |
| SZZL Sizzle Acquisition Corp. Class A | 0.99% | 98,992 | $1.0M | No change |
| JENA Jena Acquisition Corp. II - A | 0.98% | 98,857 | $1.0M | No change |
| DSACU Daedalus Special Acquisition | 0.98% | 100,000 | $1.0M | New |
| TACO Berto Acquisition Corp. | 0.98% | 98,853 | $1.0M | No change |
| BLZR Trailblazer Acquisition Class A | 0.98% | 100,000 | $1.0M | No change |
| RDAG Republic Digital Acquis Class A | 0.98% | 98,850 | $1.0M | No change |
| AEAQU Activate Energy Acquisition | 0.98% | 100,000 | $1000K | New |
| WENN Wen Acquisition Corp. Class A | 0.98% | 98,857 | $998K | No change |
| EVAC Eqv Ventures Acquisition C-A | 0.97% | 98,865 | $992K | No change |
| FRNM Freenome Inc. filed as PERCEPTIVE CAP SOLUTIONS COR | 0.93% | 72,747 | $948K | No change |
| TMS Teamshares Inc. filed as LIVE OAK ACQUISITION CORP V | 0.87% | 86,636 | $892K | No change |
| TDAC Translational Development Ac | 0.86% | 83,651 | $877K | No change |
| SAC.U Safeguard Acquisition Corp. | 0.74% | 75,000 | $756K | New |
| CRANU Crane Harbor Acquisition Cor | 0.74% | 75,000 | $755K | New |
| GPACU General Purpose Acquisition | 0.74% | 75,000 | $751K | New |
| NSTR Northstar Earth & Space Ente filed as VIKING ACQUISITION CORP I | 0.73% | 75,000 | $743K | New |
| PACH Pioneer Acquisition I Class A | 0.68% | 69,324 | $697K | No change |
| LPAA Launch One Acquisition Corp. | 0.65% | 62,831 | $665K | Reduce -61.4% |
| AEXA American Exceptionalism Class A | 0.56% | 50,000 | $570K | No change |
| ONCH 1RT Acquisition Corp. Class A | 0.49% | 49,433 | $504K | No change |
| SBXE.U Silverbox Corp. V | 0.49% | 50,000 | $503K | New |
| DNMXU Dynamix Corp. III | 0.49% | 50,000 | $503K | New |
| HCMA HCM III Acquisition Cor Class A | 0.49% | 50,000 | $502K | No change |
| IGACU Invest Green Acquisition Cor | 0.49% | 50,000 | $502K | New |
| CRAQ Cal Redwood Acquisit Class A | 0.49% | 49,429 | $501K | No change |
| EGHA Egh Acquisition Co. Class A | 0.49% | 49,424 | $501K | No change |
| OYSE Oyster Enterprises II Acq-A | 0.49% | 49,429 | $500K | No change |
| PAII Pyrophyte Acquisition Corp. Class A | 0.49% | 49,598 | $499K | No change |
| APXT Apex Treasury Corp. Class A | 0.48% | 50,000 | $495K | New |
| GIW GIGCAPITAL8 Corp. Class A | 0.48% | 50,000 | $495K | New |
| EVOX Evolution Global Acquis Class A | 0.48% | 50,000 | $494K | New |
| TDWD Tailwind 2.0 Acquisitio Class A | 0.48% | 50,000 | $493K | New |
| KBONU Karbon Capital Partners Corp. | 0.39% | 40,000 | $403K | New |
| BIXIU Bitcoin Infrastructure Acqui | 0.34% | 35,000 | $349K | New |
| HCACU Hall Chadwick Acquisition Co. | 0.25% | 25,000 | $251K | New |
| VHCPU Vine Hill Capital Investment | 0.12% | 12,500 | $125K | New |
Other holdings (73): bonds, preferreds, convertibles and warrants · $2.7M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| VCICW Vine Hill Capital Class A-2 | *W EXP 07/01/203 | 98,468 | $177K | No change |
| HYAC.WS Haymaker Acquisition Corp.-28 | *W EXP 05/31/202 | 103,843 | $161K | No change |
| ANSCW Agriculture & Natural Solu-W | *W EXP 10/01/202 | 484,858 | $155K | No change |
| BACQR Inflection Point Acquisition | RIGHT 11/04/2026 | 196,793 | $145K | No change |
| CCIXW Churchill Capital Corp. I-29 | *W EXP 03/31/203 | 157,608 | $139K | No change |
| BEAGR Bold Eagle Acquisition Corp. | RIGHT 10/11/2029 | 393,893 | $126K | No change |
| CHACR Crane Harbor Acquisition-RTS | RIGHT 04/17/2030 | 149,139 | $119K | No change |
| ALDFW Aldel Financial II Inc. - 29 | *W EXP 09/26/203 | 197,106 | $108K | No change |
| LEGT.WS Legato Merger Corp. III-29 | *W EXP 05/08/203 | 231,590 | $95K | No change |
| TMSWW Live Oak Acquisition Co.-CW29 | *W EXP 99/99/999 | 74,175 | $73K | No change |
| AACBR Artius II Acquisition Inc. | RIGHT 11/27/2029 | 197,655 | $65K | No change |
| EQV VENTURES ACQUISITION | *W EXP 07/01/203 | 134,243 | $64K | No change |
| GPATW GP-Act III Acq Class A -CW27 | *W EXP 05/13/202 | 217,248 | $59K | No change |
| OACCW Oaktree Acquisition III -31 | *W EXP 09/01/203 | 78,981 | $56K | No change |
| HVIIR Hennessy Capital Investment | RIGHT 01/17/2030 | 197,900 | $55K | No change |
| ALFUW Centurion Acquisition - 29 | *W EXP 05/31/203 | 145,495 | $47K | No change |
| RAC.WS Rithm Acquisition Corp. - 30 | *W EXP 99/99/999 | 65,866 | $45K | No change |
| FSHPR Flag Ship Acquisition Corp. | RIGHT 03/31/2026 | 182,371 | $40K | No change |
| TONT.WS Graf Global Corp.- 29 | *W EXP 05/31/203 | 87,337 | $39K | No change |
| FACWW Cartesian Growth Corp. -30 | *W EXP 05/02/203 | 49,426 | $39K | No change |
| POLEW Andretti Acquisition Corp.-29 | *W EXP 06/01/203 | 119,398 | $34K | No change |
| IPCXR Inflection Point Acquisition | RIGHT 04/25/2030 | 88,967 | $34K | No change |
| RANGR Range Capital Acquisition Co. | RIGHT 99/99/9999 | 73,901 | $33K | No change |
| TLNCW Talon Capital Corp.-30 | *W EXP 08/27/203 | 50,000 | $30K | Add +0.1% |
| RDAGW Republic Digital Acqu - 30 | *W EXP 05/01/203 | 49,425 | $29K | No change |
| ASPCR A Spac III Acquisition Corp. | RIGHT 01/02/2026 | 147,714 | $28K | No change |
| NHICW Newhold Investment Corp. - 30 | *W EXP 01/30/203 | 61,770 | $28K | No change |
| BCARW D Boral Arc Acquisition - 30 | *W EXP 07/23/203 | 75,000 | $27K | No change |
| ATIIW Archimedes Tech-30 | *W EXP 10/15/202 | 49,540 | $27K | No change |
| APADR A Paradise Acquisition Corp. | RIGHT 07/29/2025 | 100,000 | $25K | No change |
| CUBWW Lionheart Holdings - WT | *W EXP 06/07/203 | 145,507 | $25K | No change |
| LPBBW Launch Two Acquisition -29 | *W EXP 10/09/202 | 73,411 | $23K | No change |
| GSHRW Gesher Acquisition Corp. I-30 | *W EXP 10/31/203 | 49,417 | $22K | No change |
| SVCCW Stellar V Capital Corp.-Class-29 | *W EXP 10/15/202 | 66,886 | $22K | No change |
| GFUZW Spring Valley Acq Co. -30 | *W EXP 09/04/203 | 33,333 | $21K | No change |
| SBXWF Silverbox Corp. IV-A- 29 | *W EXP 08/19/202 | 73,411 | $21K | No change |
| LPAAW Launch One Acquisition - 29 | *W EXP 06/01/203 | 81,417 | $20K | No change |
| VACHW Voyager Acquisition Corp. -CW | *W EXP 05/16/203 | 97,645 | $20K | No change |
| OTGAW Otg Acquisition Corp. I - 30 | *W EXP 09/05/203 | 62,500 | $20K | No change |
| ALCWF Alchemy Investments Acqui-28 | *W EXP 11/30/202 | 93,934 | $20K | No change |
| JENA ACQUISITION CORP II-RTS | RIGHT 03/31/2030 | 98,856 | $19K | No change |
| KFIIR K&F Growth Acquisition Corp. | RIGHT 08/29/2031 | 148,744 | $19K | No change |
| TACOW Berto Acquisition Corp. - 30 | *W EXP 05/01/203 | 49,427 | $18K | No change |
| FACTW Fact II Acquisition Corp. -29 | *W EXP 11/26/203 | 50,000 | $18K | No change |
| HVMCW Highview Merger Corp. - 30 | *W EXP 07/24/203 | 63,510 | $17K | No change |
| SIMAW Sim Acquisition Corp. - 29 | *W EXP 06/01/203 | 75,542 | $16K | No change |
| CRAQR Cal Redwood Acquisition Corp. | RIGHT 05/15/2030 | 49,430 | $16K | No change |
| BLZRW Trailblazer Acqui Corp. -30 | *W EXP 09/30/203 | 33,333 | $16K | No change |
| SZZLR Sizzle Acquisition Corp. -RTS | RIGHT 04/02/2030 | 98,992 | $16K | No change |
| TACHW Titan Acquisition Corp -30 | *W EXP 05/16/203 | 49,382 | $16K | No change |
| GIWWR GIGCAPITAL8 Corp.-RTS | RIGHT 09/30/2030 | 50,000 | $16K | New |
| WENNW Wen Acquisition Corp.-A -31 | *W EXP 99/99/999 | 49,429 | $15K | No change |
| LATAW Galata Acquisition Corp. - 30 | *W EXP 09/12/203 | 35,418 | $14K | Add +18.2% |
| OBAWW Oxley Bridge Acq Ltd. -30 | *W EXP 06/17/203 | 62,146 | $14K | No change |
| KRSP.WS Rice Acquisition Corp. 3 | *W EXP 99/99/999 | 16,666 | $13K | New |
| KCHVR Kochav Defense Acquisition-R | RIGHT 05/21/2030 | 54,372 | $13K | No change |
| TDACW Translational Dev -A -CW26 | *W EXP 12/18/202 | 41,826 | $13K | No change |
| EGHAR Egh Acquisition Corp.-RTS | RIGHT 99/99/9999 | 49,423 | $12K | No change |
| PCAPW Procap Acq Corp. A -30 | *W EXP 05/16/203 | 32,953 | $12K | No change |
| EVAC.WS Eqv Ventures Acquisition Cor | *W EXP 06/30/203 | 32,955 | $12K | No change |
| EVOXW Evolution Global Acquisition | *W EXP 10/22/203 | 25,000 | $11K | New |
| NSTR.WS Viking Acquisition Corp. I | *W EXP 11/03/203 | 25,000 | $11K | New |
| PAII.WS Pyrophyte Acquisition Corp. I | *W EXP 07/30/203 | 24,799 | $10K | No change |
| OYSER Oyster Enterprises II Acquis | RIGHT 05/22/2030 | 49,430 | $10K | No change |
| JACKSON ACQUISITION CO II | RIGHT 99/99/9999 | 39,300 | $10K | No change |
| SOCAW Solarius Capital Acqui -30 | *W EXP 07/10/203 | 35,000 | $10K | No change |
| PACHW Pioneer Acquisition I Corp. | *W EXP 06/16/203 | 34,662 | $9K | No change |
| HCMAW HCM III Acquisition Corp. -30 | *W EXP 07/23/203 | 16,666 | $8K | New |
| TDWDR Tailwind 2.0 Acquisition-RTS | RIGHT 11/07/2030 | 50,000 | $8K | New |
| ONCHW 1RT Acquisition Corp.-A -31 | *W EXP 06/26/203 | 12,358 | $7K | No change |
| APXTW Apex Treasury Corp. -30 | *W EXP 10/07/203 | 25,000 | $7K | New |
| MACIW Melar Acquisition Corp. I -29 | *W EXP 06/01/203 | 44,092 | $6K | No change |
| PLMKW Plum Acquisition Corp. IV-30 | *W EXP 08/19/202 | 12,362 | $3K | No change |
Total filed on the 13F, all lines: $104.8M.
Portfolio Sells Q3 2025 → Q4 2025
| CCIX Churchill Capital Corp. Ix | Reduce -58.2% | 1.94% | −2.99 |
| POLE Andretti Acquisition Corp. Class A | Sold out | 0.00% | −2.63 |
| SBXDF Silverbox Corp. IV-A | Sold out | 0.00% | −2.32 |
| MLAC Mountain Lake Acquisition-A | Sold out | 0.00% | −1.81 |
| LPAA Launch One Acquisition Corp. | Reduce -61.4% | 0.65% | −1.15 |
| ENHA Enhanced Group Inc. | Sold out | 0.00% | −1.04 |
| IPCX Inflection Point Acquisiti-A | Sold out | 0.00% | −0.94 |
| KCHV Kochav Defense Acquisition-A | Sold out | 0.00% | −0.58 |
| CCII Cohen Circle Acquisit II - A | Sold out | 0.00% | −0.27 |
Portfolio Buys Q3 2025 → Q4 2025
| NWAX.U New America Acquisition I Co. | New | 1.99% | +1.99 |
| LFACU Leapfrog Acquisition Corp. | New | 1.47% | +1.47 |
| ALUB.U Alussa Energy Acquisition Co. | New | 1.24% | +1.24 |
| BLRKU Bluerock Acquisition Corp. | New | 1.22% | +1.22 |
| LPCVU Launchpad Cadenza Acquisitio | New | 1.22% | +1.22 |
| SVAQU Silicon Valley Acquisition C | New | 1.22% | +1.22 |
| KRSP Rice Acquisition Corp. 3-A | New | 1.00% | +1.00 |
| DSACU Daedalus Special Acquisition | New | 0.98% | +0.98 |
| AEAQU Activate Energy Acquisition | New | 0.98% | +0.98 |
| SAC.U Safeguard Acquisition Corp. | New | 0.74% | +0.74 |
| CRANU Crane Harbor Acquisition Cor | New | 0.74% | +0.74 |
| GPACU General Purpose Acquisition | New | 0.74% | +0.74 |
| NSTR Northstar Earth & Space Ente | New | 0.73% | +0.73 |
| SBXE.U Silverbox Corp. V | New | 0.49% | +0.49 |
| DNMXU Dynamix Corp. III | New | 0.49% | +0.49 |
| IGACU Invest Green Acquisition Cor | New | 0.49% | +0.49 |
| APXT Apex Treasury Corp. Class A | New | 0.48% | +0.48 |
| GIW GIGCAPITAL8 Corp. Class A | New | 0.48% | +0.48 |
| EVOX Evolution Global Acquis Class A | New | 0.48% | +0.48 |
| TDWD Tailwind 2.0 Acquisitio Class A | New | 0.48% | +0.48 |
| KBONU Karbon Capital Partners Corp. | New | 0.39% | +0.39 |
| BIXIU Bitcoin Infrastructure Acqui | New | 0.34% | +0.34 |
| HCACU Hall Chadwick Acquisition Co. | New | 0.25% | +0.25 |
| VHCPU Vine Hill Capital Investment | New | 0.12% | +0.12 |
| LATA Galata Acqu Corp. II Class A | Add +18.1% | 1.04% | +0.09 |
| ARCC Ares Capital Corp. | Add +0.0% | 8.86% | −0.76 |
Notes & Other Activity Q3 2025 → Q4 2025
| ISLWF Israel Acquisitions Corp.-28 | *W EXP 99/99/999 | Sold out | 690,379 | $126Kbefore exit |
| HDRNW GIGCAPITAL7 Corp.-A - 29 | *W EXP 08/29/202 | Sold out | 188,485 | $85Kbefore exit |
| TLNCW Talon Capital Corp.-30 | *W EXP 08/27/203 | Add +0.1% | 50,000 | $30K |
| MLACR Mountain Lake Acquisition Co. | RIGHT 11/15/2028 | Sold out | 166,866 | $25Kbefore exit |
| GIWWR GIGCAPITAL8 Corp.-RTS | RIGHT 09/30/2030 | New | 50,000 | $16K |
| LATAW Galata Acquisition Corp. - 30 | *W EXP 09/12/203 | Add +18.2% | 35,418 | $14K |
| KRSP.WS Rice Acquisition Corp. 3 | *W EXP 99/99/999 | New | 16,666 | $13K |
| EVOXW Evolution Global Acquisition | *W EXP 10/22/203 | New | 25,000 | $11K |
| NSTR.WS Viking Acquisition Corp. I | *W EXP 11/03/203 | New | 25,000 | $11K |
| UCFIW Iron Horse Acquisition Co.-29 | *W EXP 09/30/203 | Sold out | 96,144 | $10Kbefore exit |
| HCMAW HCM III Acquisition Corp. -30 | *W EXP 07/23/203 | New | 16,666 | $8K |
| TDWDR Tailwind 2.0 Acquisition-RTS | RIGHT 11/07/2030 | New | 50,000 | $8K |
| APXTW Apex Treasury Corp. -30 | *W EXP 10/07/203 | New | 25,000 | $7K |
| KVAWF Keen Vision Acquisition C-28 | *W EXP 03/15/202 | Sold out | 48,528 | $3Kbefore exit |
| RFAIR RF Acquisition Corp. II | RIGHT 05/01/2026 | Sold out | 22,512 | $2Kbefore 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 | 87 | $101.6M | ARCC, OACC, ALDF, AAC.U, BEAG |
| Q1 2026 | 78 | $91.9M | OACC, ALDF, BEAG, CUB, ALF |
| Q4 2025 | 75 | $102.1M | ARCC, FTW, OACC, ALDF, BEAG |
| Q3 2025 | 58 | $94.8M | ARCC, CCIX, FTW, OACC, ALDF |
| Q2 2025 | 52 | $97.1M | ARCC, CCIX, VLOS, FTW, ALDF |
| Q1 2025 | 40 | $93.5M | ARCC, CCIX, GPAT, VLOS, FTW |
| Q4 2024 | 41 | $93.1M | ARCC, CCIX, ARES ACQUISITION CORP II, GPAT, VLOS |