HGC Investment Management Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), HGC Investment Management Inc. reported 110 stock positions worth $467.6 million. Its top holding was Artius II Acquisition Class A (AACB) at 3.3% of the portfolio, followed by Centurion Acquisition (ALF, 3.3%) and Jackson Acquisition Class A (JACS, 3.3%). Compared with Q3 2025, it opened 45 new positions, sold out of 13, added to 3 and reduced 16. The biggest buy was a new position in Pyrophyte Acquisition Class A (PAII) and the biggest sale an exit from Cartesian Growth Corp. III (CGCTU).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0001711200
- Portfolio Value
- $467.6M (Q4 2025)
- SEC Filing
- 0001711200-26-000001 ↗ filed Feb 17, 2026
Holdings Value
Holdings 110 stocks · $467.6M
| AACB Artius II Acquisition Inc. Class A | 3.30% | 1,500,000 | $15.4M | No change |
| ALF Centurion Acquisition Corp. | 3.30% | 1,450,000 | $15.4M | No change |
| JACS Jackson Acquisition Co. Class A | 3.29% | 1,475,200 | $15.4M | Reduce -6.3% |
| GPAT GP-Act III Acquisition-A | 3.14% | 1,375,000 | $14.7M | No change |
| SDHI Siddhi Acquisition Corp. Class A | 2.75% | 1,250,000 | $12.8M | No change |
| DMII Drugs Made in America Acquis | 2.61% | 1,230,980 | $12.2M | Add +2.6% |
| FERAU Fifth Era Acquisition Corp. I | 2.57% | 1,150,760 | $12.0M | No change |
| OBAWU Oxley Bridge Acquisition Ltd. | 2.08% | 950,000 | $9.7M | No change |
| SOUL Soulpower Acquisition Co. Class A | 2.07% | 953,146 | $9.7M | Reduce -26.9% |
| CYBR Cyberark Software Ltd./Israel | 1.86% | 19,507 | $8.7M | Add +67.6% |
| PAII Pyrophyte Acquisition Corp. Class A | 1.83% | 850,000 | $8.6M | New |
| EXAS Exact Sciences Corp. | 1.74% | 80,000 | $8.1M | New |
| ITHAU Ithax Acquisition Corp. III | 1.71% | 800,000 | $8.0M | New |
| KFIIU K&F Growth Acquisition Corp. | 1.68% | 750,000 | $7.8M | No change |
| EA Electronic Arts Inc. | 1.65% | 37,816 | $7.7M | Add +37.5% |
| PACHU Pioneer Acquisition I Corp. | 1.62% | 743,077 | $7.6M | No change |
| LPCVU Launchpad Cadenza Acquisitio | 1.60% | 750,000 | $7.5M | New |
| ADACU American Drive Acquisition C | 1.60% | 750,000 | $7.5M | New |
| JENA Jena Acquisition Corp. II - A | 1.52% | 700,000 | $7.1M | New |
| EVAC.U Eqv Ventures Acquisition Cor | 1.51% | 697,174 | $7.1M | No change |
| CEPF Cantor Equity Partners Class A | 1.43% | 650,000 | $6.7M | Reduce -48.0% |
| SZZL Sizzle Acquisition Corp. Class A | 1.41% | 650,539 | $6.6M | No change |
| VHCPU Vine Hill Capital Investment | 1.39% | 650,000 | $6.5M | New |
| AAM Aa Mission Acquisition Cor-A | 1.38% | 605,000 | $6.5M | Reduce -49.8% |
| MBVIU M3-Brigade Acquisition Vi Co. | 1.35% | 625,000 | $6.3M | Reduce -26.5% |
| RDAG Republic Digital Acquis Class A | 1.30% | 602,741 | $6.1M | No change |
| SBXE.U Silverbox Corp. V | 1.30% | 899,986 | $6.1M | New |
| HCMA HCM III Acquisition Cor Class A | 1.29% | 600,000 | $6.0M | Reduce -25.0% |
| CEPV Cantor Equity Partners Class A | 1.28% | 583,153 | $6.0M | New |
| TACHU Titan Acquisition Corp. | 1.25% | 559,131 | $5.8M | Reduce -26.4% |
| BLZRU Trailblazer Acquisition Corp. | 1.21% | 550,000 | $5.6M | No change |
| FCRS.U Futurecrest Acquisition Corp. | 1.20% | 550,000 | $5.6M | Reduce -21.4% |
| WENN Wen Acquisition Corp. Class A | 1.19% | 550,000 | $5.6M | No change |
| TVAIU Thayer Ventures Acquisition | 1.16% | 525,000 | $5.4M | No change |
| CFLT Confluent Inc. Class A | 1.13% | 174,258 | $5.3M | New |
| IRHOU Iron Horse Acquisition II Co. | 1.11% | 523,489 | $5.2M | New |
| FIGXU Figx Capital Acquisition Cor | 1.09% | 500,000 | $5.1M | No change |
| VACI.U Viking Acquisitions Corp. I | 1.08% | 500,000 | $5.0M | New |
| KBONU Karbon Capital Partners Corp. | 1.08% | 500,000 | $5.0M | New |
| FAC Factorial Energy Inc. filed as CARTESIAN GROWTH CORP III | 0.99% | 450,000 | $4.6M | New |
| RDAGU Republic Digital Acquisition | 0.99% | 443,934 | $4.6M | No change |
| NPAC New Providence Acquisition-A | 0.99% | 450,000 | $4.6M | No change |
| GTENU Gores Holdings X Inc. | 0.90% | 400,000 | $4.2M | No change |
| SPEGU Silver Pegasus Acquisition C | 0.88% | 400,000 | $4.1M | No change |
| BCSS.U Bain Capital GSS Investment | 0.87% | 400,000 | $4.1M | No change |
| AIIA.U AI Infrastructure Acquisitio | 0.87% | 400,000 | $4.1M | New |
| CRANU Crane Harbor Acquisition Cor | 0.86% | 400,000 | $4.0M | New |
| APXTU Apex Treasury Corp. | 0.86% | 400,000 | $4.0M | New |
| BCARU D Boral Arc Acquisition I Co. | 0.82% | 375,000 | $3.8M | No change |
| HAVAU Harvard Ave Acquisition Corp. | 0.81% | 375,000 | $3.8M | New |
| CRAC Crown Reserve Acquisiti Class A | 0.80% | 375,000 | $3.7M | New |
| AXINU Axiom Intelligence Acquisiti | 0.77% | 350,000 | $3.6M | No change |
| LKSPU Lake Superior Acquisition Co. | 0.70% | 320,000 | $3.3M | New |
| LCCCU Lakeshore Acquisition III Co. | 0.66% | 300,000 | $3.1M | No change |
| SOCAU Solarius Capital Acquisition | 0.65% | 300,000 | $3.1M | No change |
| NGD New Gold Inc. | 0.65% | 346,542 | $3.0M | New |
| EVOXU Evolution Global Acquisition | 0.64% | 300,000 | $3.0M | New |
| QUMS Quantumsphere Acquisition Co. | 0.64% | 300,000 | $3.0M | No change |
| NSC Norfolk Southern Corp. | 0.62% | 10,000 | $2.9M | New |
| COPL.U Copley Acquisition Corp. | 0.55% | 250,000 | $2.6M | No change |
| EGHAU Egh Acquisition Corp. | 0.55% | 250,000 | $2.6M | No change |
| GIWWU GIGCAPITAL8 Corp. | 0.54% | 250,000 | $2.5M | New |
| ALUB.U Alussa Energy Acquisition Co. | 0.54% | 250,000 | $2.5M | New |
| SAC.U Safeguard Acquisition Corp. | 0.54% | 250,000 | $2.5M | New |
| BPACU Blueport Acquisition Ltd. | 0.54% | 250,000 | $2.5M | New |
| TDWDU Tailwind 2.0 Acquisition Cor | 0.54% | 250,000 | $2.5M | New |
| ENHA Enhanced Group Inc. filed as A PARADISE ACQUISITION CORP | 0.54% | 250,000 | $2.5M | Reduce -37.5% |
| DNMXU Dynamix Corp. III | 0.54% | 250,000 | $2.5M | New |
| IGACU Invest Green Acquisition Cor | 0.54% | 250,000 | $2.5M | New |
| LWACU Lightwave Acquisition Corp. | 0.54% | 245,500 | $2.5M | No change |
| AEAQU Activate Energy Acquisition | 0.53% | 250,000 | $2.5M | New |
| GSRF GSR IV Acquisition Corp. Class A | 0.53% | 250,000 | $2.5M | Reduce -52.4% |
| TWLVU Twelve Seas Investment Co. II | 0.53% | 250,000 | $2.5M | New |
| PMTR Perimeter Acquis Corp. I Class A | 0.52% | 238,400 | $2.5M | New |
| CAEP Cantor Equity Partners III-A | 0.49% | 225,000 | $2.3M | Reduce -18.2% |
| NHICU Newhold Investment Corp. III | 0.45% | 200,000 | $2.1M | No change |
| ONCHU 1RT Acquisition Corp. | 0.44% | 200,000 | $2.1M | No change |
| CCXIU Churchill Capital Corp. Xi | 0.44% | 200,000 | $2.0M | New |
| BDCIU BTC Development Corp. | 0.43% | 200,000 | $2.0M | No change |
| HVMCU Highview Merger Corp. | 0.43% | 200,000 | $2.0M | No change |
| DYORU Insight Digital Partners II | 0.43% | 200,000 | $2.0M | New |
| HCACU Hall Chadwick Acquisition Co. | 0.43% | 200,000 | $2.0M | New |
| MACI Melar Acquisition Corp. I-A | 0.40% | 175,000 | $1.9M | No change |
| MMTXU Miluna Acquisition Corp. | 0.37% | 175,000 | $1.7M | New |
| IBIT iShares Bitcoin Trust ETF | 0.37% | 34,606 | $1.7M | Reduce -19.4% |
| CRAQU Cal Redwood Acquisition Corp. | 0.34% | 150,000 | $1.6M | No change |
| GSHRU Gesher Acquisition Corp. II | 0.33% | 150,000 | $1.6M | No change |
| GTERU Globa Terra Acquisition Corp. | 0.33% | 150,000 | $1.5M | No change |
| UYSC Uy Scuti Acquisition Corp. | 0.33% | 150,000 | $1.5M | No change |
| INACU Indigo Acquisition Corp. | 0.33% | 150,000 | $1.5M | No change |
| LFACU Leapfrog Acquisition Corp. | 0.32% | 150,000 | $1.5M | New |
| USAS Americas Gold and Silver Cor | 0.32% | 300,000 | $1.5M | New |
| OTGAU Otg Acquisition Corp. I | 0.27% | 125,000 | $1.3M | No change |
| VLOS Velos Acquisition I Corp. filed as M3BRIGADE ACQUISITION V CORP | 0.23% | 100,600 | $1.1M | No change |
| PLMKU Plum Acquisition Corp. IV | 0.23% | 100,000 | $1.1M | No change |
| PGAC Pantages Capital Acquisition | 0.22% | 100,000 | $1.0M | No change |
| KOYNU CSLM Digital Asset Acquisiti | 0.22% | 100,000 | $1.0M | No change |
| MKLYU McKinley Acquisition Corp. | 0.22% | 100,000 | $1.0M | No change |
| SCIIU SC II Acquisition Corp. | 0.22% | 100,000 | $1.0M | New |
| TACH Titan Acquisition Corp. Class A | 0.11% | 50,000 | $513K | New |
| TMS Teamshares Inc. filed as LIVE OAK ACQUISITION CORP V | 0.06% | 27,960 | $288K | Reduce -93.8% |
| SIMA Sim Acquisition Corp. I-A | 0.06% | 25,000 | $265K | No change |
| DSACU Daedalus Special Acquisition | 0.05% | 25,000 | $251K | New |
| AEXA American Exceptionalism Class A | 0.02% | 10,000 | $114K | Reduce -98.6% |
| SHMDW US 25 Aug 28 C11.5 | 0.01% | 46,200 | $67K | New |
| TVA Texas Ventures Acquisition-A | 0.01% | 3,925 | $42K | Reduce -98.0% |
| MCGA Yorkville Acquisition Corp. Class A | 0.01% | 3,852 | $39K | Reduce -84.6% |
| IAUX I-80 Gold Corp. | 0.00% | 84 | $123 | New |
| WALDW US 27 Jul 27 C11.5 | 0.00% | 666 | $22 | New |
| DISTOKEN ACQUISITION CORP | 0.00% | 125,000 | $0 | No change |
Other holdings (52): bonds, preferreds, convertibles and warrants · $4.1M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| AACBR Artius II Acquisition Inc. | RIGHT 11/27/2029 | 1,500,000 | $495K | No change |
| JACKSON ACQUISITION CO II | RIGHT 99/99/9999 | 1,425,700 | $356K | Reduce -3.4% |
| SDHIR Siddhi Acquisition Corp. | RIGHT 09/15/2029 | 1,250,000 | $313K | No change |
| FACWW Cartesian Growth Corp. -30 | *W EXP 05/02/203 | 300,000 | $237K | New |
| GSRFR GSR IV Acquisition Corp.-RTS | RIGHT 08/22/2030 | 75,000 | $179K | No change |
| PAII.WS Pyrophyte Acquisition Corp. I | *W EXP 07/30/203 | 425,000 | $179K | No change |
| IPCXR Inflection Point Acquisition | RIGHT 04/25/2030 | 465,000 | $176K | Reduce -49.2% |
| DMIIR Drugs Made in America Acq-RT | RIGHT 09/16/2030 | 1,230,980 | $172K | Add +2.6% |
| ANSCW Agriculture & Natural Solu-W | *W EXP 10/01/202 | 503,500 | $161K | No change |
| PMTRW Perimeter Acquis Corp. I -30 | *W EXP 05/13/203 | 194,200 | $137K | New |
| HCMAW HCM III Acquisition Corp. -30 | *W EXP 07/23/203 | 266,666 | $133K | Add +14.3% |
| JENA ACQUISITION CORP II-RTS | RIGHT 03/31/2030 | 700,000 | $126K | New |
| APADR A Paradise Acquisition Corp. | RIGHT 07/29/2025 | 475,000 | $119K | Add +18.8% |
| SZZLR Sizzle Acquisition Corp. -RTS | RIGHT 04/02/2030 | 650,539 | $104K | No change |
| COLAR Columbus Acquisition Corp. | RIGHT 99/99/9999 | 300,000 | $101K | New |
| TVACW Texas Ventures Acq -31 | *W EXP 04/23/203 | 100,000 | $90K | No change |
| NPACW New Providence Acq A -CW28 | *W EXP 04/24/203 | 150,000 | $76K | No change |
| CRACR Crown Reserve Acquisitio-RTS | RIGHT 10/06/2030 | 375,000 | $71K | New |
| SOULPOWER ACQUISITION CORP | RIGHT 99/99/9999 | 403,161 | $71K | Reduce -69.1% |
| WENNW Wen Acquisition Corp.-A -31 | *W EXP 99/99/999 | 225,000 | $70K | No change |
| TACOW Berto Acquisition Corp. - 30 | *W EXP 05/01/203 | 175,000 | $65K | No change |
| QUMSR Quantumsphere Acquisition Co. | RIGHT 08/06/2030 | 300,000 | $63K | New |
| RIBBR Ribbon Acquisition Corp. | RIGHT 12/31/2026 | 250,000 | $60K | No change |
| BLUWW Blue Water Acquisition-CW26 | *W EXP 05/23/203 | 100,000 | $53K | No change |
| YHNAR YHN Acquisition I Ltd. | RIGHT 08/15/2029 | 344,188 | $53K | No change |
| PGACR Pantages Capital Acquis-RT | RIGHT 11/15/2029 | 250,000 | $50K | Reduce -50.0% |
| BACCR Blue Acquisition Corp.-RTS | RIGHT 06/11/2030 | 150,000 | $49K | Reduce -40.0% |
| GTENW Gores Holdings X Inc.-31 | *W EXP 05/02/203 | 50,000 | $46K | No change |
| UYSCR Uy Scuti Acquisition Corp. | RIGHT 03/03/2030 | 150,000 | $40K | No change |
| TACHW Titan Acquisition Corp -30 | *W EXP 05/16/203 | 100,000 | $32K | New |
| OAKUR Oak Woods Acquisition Cor-RT | RIGHT 03/23/2028 | 120,000 | $30K | No change |
| BAYAR Bayview Acquisition Corp. | RIGHT 11/17/2028 | 150,000 | $30K | No change |
| RFAIR RF Acquisition Corp. II | RIGHT 05/01/2026 | 200,000 | $24K | New |
| CRAQR Cal Redwood Acquisition Corp. | RIGHT 05/15/2030 | 66,869 | $22K | No change |
| MACIW Melar Acquisition Corp. I -29 | *W EXP 06/01/203 | 150,528 | $21K | No change |
| ATMCW Alphatime Acquisition Cor-28 | *W EXP 03/01/202 | 300,000 | $18K | No change |
| CRACW Crown Reserve Acquisition Co. | *W EXP 10/06/203 | 187,500 | $16K | New |
| ISLWF Israel Acquisitions Corp.-28 | *W EXP 99/99/999 | 100,800 | $13K | No change |
| BKHAR Black Hawk Acquisition C-RTS | RIGHT 06/20/2025 | 10,000 | $13K | No change |
| FUFUW Bitfufu Inc.-28 | *W EXP 03/01/202 | 50,000 | $10K | No change |
| MLACR Mountain Lake Acquisition Co. | RIGHT 11/15/2028 | 40,000 | $10K | Reduce -94.3% |
| FSHPR Flag Ship Acquisition Corp. | RIGHT 03/31/2026 | 27,000 | $5K | No change |
| OAKUW Oak Woods Acquisition -28 | *W EXP 99/99/999 | 120,000 | $5K | No change |
| FORLW Four Leaf Acquisition Cor-28 | *W EXP 03/15/202 | 110,000 | $4K | No change |
| MCGAW Yorkville Acquisition - 30 | *W EXP 06/06/203 | 8,333 | $4K | No change |
| MKDWW MKD Tech Inc. -29 | *W EXP 06/10/202 | 175,000 | $3K | No change |
| DAICW Cid Holdco Inc. -26 | *W EXP 12/31/202 | 25,000 | $2K | No change |
| AMBWQ Ambipar Emergency Respons-28 | *W EXP 03/03/202 | 130,905 | $641 | No change |
| GCLWW GCL Global Holdings-A -CW26 | *W EXP 02/13/203 | 4,500 | $135 | No change |
| LIMNW Liminatus Pharma Inc. Class A-28 | *W EXP 04/30/203 | 1,250 | $44 | No change |
| LAKESHORE BIOPHARMA CO LTD | *W EXP 03/15/202 | 5,000 | $35 | No change |
| DYCQR DT Cloud Acquisition Cor-RTS | RIGHT 02/14/2029 | 150,000 | $0 | No change |
Total filed on the 13F, all lines: $471.7M.
Portfolio Sells Q3 2025 → Q4 2025
| CGCTU Cartesian Growth Corp. III | Sold out | 0.00% | −2.00 |
| VRNA Verona Pharma Ltd. | Sold out | 0.00% | −1.94 |
| AEXA American Exceptionalism Class A | Reduce -98.6% | 0.02% | −1.85 |
| JENA.U Jena Acquisition Corp. II | Sold out | 0.00% | −1.79 |
| MLAC Mountain Lake Acquisition-A | Sold out | 0.00% | −1.77 |
| AAM Aa Mission Acquisition Cor-A | Reduce -49.8% | 1.38% | −1.73 |
| CEPF Cantor Equity Partners Class A | Reduce -48.0% | 1.43% | −1.70 |
| SOUL Soulpower Acquisition Co. Class A | Reduce -26.9% | 2.07% | −1.16 |
| TMS Teamshares Inc. | Reduce -93.8% | 0.06% | −1.07 |
| LOKVU Live Oak Acquisition Corp. V | Sold out | 0.00% | −1.03 |
| PMTRU Perimeter Acquisition Corp. I | Sold out | 0.00% | −0.98 |
| GSRF GSR IV Acquisition Corp. Class A | Reduce -52.4% | 0.53% | −0.77 |
| COLAU Columbus Acquisition Corp. | Sold out | 0.00% | −0.76 |
| MBVIU M3-Brigade Acquisition Vi Co. | Reduce -26.5% | 1.35% | −0.76 |
| SSEAU Starry Sea Acquisition Corp. | Sold out | 0.00% | −0.75 |
| JACS Jackson Acquisition Co. Class A | Reduce -6.3% | 3.29% | −0.73 |
| HCMA HCM III Acquisition Cor Class A | Reduce -25.0% | 1.29% | −0.70 |
| TACHU Titan Acquisition Corp. | Reduce -26.4% | 1.25% | −0.67 |
| RIBB Ribbon Acquisition Corp. | Sold out | 0.00% | −0.63 |
| FCRS.U Futurecrest Acquisition Corp. | Reduce -21.4% | 1.20% | −0.62 |
| RFAIU RF Acquisition Corp. II | Sold out | 0.00% | −0.53 |
| TVA Texas Ventures Acquisition-A | Reduce -98.0% | 0.01% | −0.52 |
| ENHA Enhanced Group Inc. | Reduce -37.5% | 0.54% | −0.44 |
| IBIT iShares Bitcoin Trust ETF | Reduce -19.4% | 0.37% | −0.32 |
| GTEN Gores Holdings X Inc. Class A | Sold out | 0.00% | −0.25 |
| CAEP Cantor Equity Partners III-A | Reduce -18.2% | 0.49% | −0.21 |
| MCGA Yorkville Acquisition Corp. Class A | Reduce -84.6% | 0.01% | −0.06 |
| BNC Cea Industries Inc. | Sold out | 0.00% | −0.05 |
| SHMD Schmid Group NV | Sold out | 0.00% | −0.00 |
Portfolio Buys Q3 2025 → Q4 2025
| PAII Pyrophyte Acquisition Corp. Class A | New | 1.83% | +1.83 |
| EXAS Exact Sciences Corp. | New | 1.74% | +1.74 |
| ITHAU Ithax Acquisition Corp. III | New | 1.71% | +1.71 |
| LPCVU Launchpad Cadenza Acquisitio | New | 1.60% | +1.60 |
| ADACU American Drive Acquisition C | New | 1.60% | +1.60 |
| JENA Jena Acquisition Corp. II - A | New | 1.52% | +1.52 |
| VHCPU Vine Hill Capital Investment | New | 1.39% | +1.39 |
| SBXE.U Silverbox Corp. V | New | 1.30% | +1.30 |
| CEPV Cantor Equity Partners Class A | New | 1.28% | +1.28 |
| CFLT Confluent Inc. Class A | New | 1.13% | +1.13 |
| IRHOU Iron Horse Acquisition II Co. | New | 1.11% | +1.11 |
| VACI.U Viking Acquisitions Corp. I | New | 1.08% | +1.08 |
| KBONU Karbon Capital Partners Corp. | New | 1.08% | +1.08 |
| FAC Factorial Energy Inc. | New | 0.99% | +0.99 |
| AIIA.U AI Infrastructure Acquisitio | New | 0.87% | +0.87 |
| CRANU Crane Harbor Acquisition Cor | New | 0.86% | +0.86 |
| APXTU Apex Treasury Corp. | New | 0.86% | +0.86 |
| HAVAU Harvard Ave Acquisition Corp. | New | 0.81% | +0.81 |
| CRAC Crown Reserve Acquisiti Class A | New | 0.80% | +0.80 |
| LKSPU Lake Superior Acquisition Co. | New | 0.70% | +0.70 |
| NGD New Gold Inc. | New | 0.65% | +0.65 |
| EVOXU Evolution Global Acquisition | New | 0.64% | +0.64 |
| NSC Norfolk Southern Corp. | New | 0.62% | +0.62 |
| GIWWU GIGCAPITAL8 Corp. | New | 0.54% | +0.54 |
| ALUB.U Alussa Energy Acquisition Co. | New | 0.54% | +0.54 |
| SAC.U Safeguard Acquisition Corp. | New | 0.54% | +0.54 |
| BPACU Blueport Acquisition Ltd. | New | 0.54% | +0.54 |
| TDWDU Tailwind 2.0 Acquisition Cor | New | 0.54% | +0.54 |
| DNMXU Dynamix Corp. III | New | 0.54% | +0.54 |
| IGACU Invest Green Acquisition Cor | New | 0.54% | +0.54 |
| AEAQU Activate Energy Acquisition | New | 0.53% | +0.53 |
| TWLVU Twelve Seas Investment Co. II | New | 0.53% | +0.53 |
| PMTR Perimeter Acquis Corp. I Class A | New | 0.52% | +0.52 |
| CYBR Cyberark Software Ltd./Israel | Add +67.6% | 1.86% | +0.48 |
| CCXIU Churchill Capital Corp. Xi | New | 0.44% | +0.44 |
| DYORU Insight Digital Partners II | New | 0.43% | +0.43 |
| HCACU Hall Chadwick Acquisition Co. | New | 0.43% | +0.43 |
| MMTXU Miluna Acquisition Corp. | New | 0.37% | +0.37 |
| LFACU Leapfrog Acquisition Corp. | New | 0.32% | +0.32 |
| USAS Americas Gold and Silver Cor | New | 0.32% | +0.32 |
| EA Electronic Arts Inc. | Add +37.5% | 1.65% | +0.29 |
| SCIIU SC II Acquisition Corp. | New | 0.22% | +0.22 |
| TACH Titan Acquisition Corp. Class A | New | 0.11% | +0.11 |
| DSACU Daedalus Special Acquisition | New | 0.05% | +0.05 |
| SHMDW US 25 Aug 28 C11.5 | New | 0.01% | +0.01 |
| WALDW US 27 Jul 27 C11.5 | New | 0.00% | 0.00 |
| IAUX I-80 Gold Corp. | New | 0.00% | 0.00 |
| DMII Drugs Made in America Acquis | Add +2.6% | 2.61% | −0.32 |
Notes & Other Activity Q3 2025 → Q4 2025
| JACKSON ACQUISITION CO II | RIGHT 99/99/9999 | Reduce -3.4% | 1,425,700 | $356K |
| FACWW Cartesian Growth Corp. -30 | *W EXP 05/02/203 | New | 300,000 | $237K |
| IPCXR Inflection Point Acquisition | RIGHT 04/25/2030 | Reduce -49.2% | 465,000 | $176K |
| DMIIR Drugs Made in America Acq-RT | RIGHT 09/16/2030 | Add +2.6% | 1,230,980 | $172K |
| PMTRW Perimeter Acquis Corp. I -30 | *W EXP 05/13/203 | New | 194,200 | $137K |
| HCMAW HCM III Acquisition Corp. -30 | *W EXP 07/23/203 | Add +14.3% | 266,666 | $133K |
| JENA ACQUISITION CORP II-RTS | RIGHT 03/31/2030 | New | 700,000 | $126K |
| APADR A Paradise Acquisition Corp. | RIGHT 07/29/2025 | Add +18.8% | 475,000 | $119K |
| COLAR Columbus Acquisition Corp. | RIGHT 99/99/9999 | New | 300,000 | $101K |
| CRACR Crown Reserve Acquisitio-RTS | RIGHT 10/06/2030 | New | 375,000 | $71K |
| SOULPOWER ACQUISITION CORP | RIGHT 99/99/9999 | Reduce -69.1% | 403,161 | $71K |
| QUMSR Quantumsphere Acquisition Co. | RIGHT 08/06/2030 | New | 300,000 | $63K |
| IPEXR Inflection Point Acquisition | RIGHT 99/99/9999 | Sold out | 100,000 | $60Kbefore exit |
| TMSWW Live Oak Acquisition Co.-CW29 | *W EXP 99/99/999 | Sold out | 100,000 | $55Kbefore exit |
| PGACR Pantages Capital Acquis-RT | RIGHT 11/15/2029 | Reduce -50.0% | 250,000 | $50K |
| BACCR Blue Acquisition Corp.-RTS | RIGHT 06/11/2030 | Reduce -40.0% | 150,000 | $49K |
| TACHW Titan Acquisition Corp -30 | *W EXP 05/16/203 | New | 100,000 | $32K |
| RFAIR RF Acquisition Corp. II | RIGHT 05/01/2026 | New | 200,000 | $24K |
| CRACW Crown Reserve Acquisition Co. | *W EXP 10/06/203 | New | 187,500 | $16K |
| SHMDW Schmid Group NV -28 | *W EXP 04/30/202 | Sold out | 46,200 | $13Kbefore exit |
| MLACR Mountain Lake Acquisition Co. | RIGHT 11/15/2028 | Reduce -94.3% | 40,000 | $10K |
| MLKWF Waldencast Acq Class A -CW27 | *W EXP 07/27/202 | Sold out | 666 | $25before 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 | 115 | $501.5M | AACB, ALOVU, SDHI, QADRU, MTNE.U |
| Q1 2026 | 109 | $447.3M | AACB, ALOVU, SDHI, DMII, FERAU |
| Q4 2025 | 110 | $467.6M | AACB, ALF, JACS, GPAT, SDHI |
| Q3 2025 | 81 | $407.2M | JACS, ALF, AACB, GPAT, SOUL |
| Q2 2025 | 69 | $358.7M | ALF, AAM, JACS, AACBU, GPAT |
| Q1 2025 | 47 | $279.8M | GPAT, AAM, ALF, JACS.U, VLOS |
| Q4 2024 | 33 | $232.7M | GPAT, AAM, ALF, SMAR, JACS.U |
| Q3 2024 | 44 | $241.0M | GPAT, ALF, AAM, VLOS, NVEI |
| Q2 2024 | 41 | $216.0M | ANSC, GPATU, ALFUU, IBIT, NETD |
| Q1 2024Amended | 40 | $279.1M | ARES ACQUISITION CORP II, ANSC, NETD, USAR, HAYMAKER ACQUISITION CORP 4 |