MHR Fund Management LLC

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), MHR Fund Management LLC reported 10 stock positions worth $1.4 billion. Its top holding was Telesat (TSAT) at 47.7% of the portfolio, followed by Lionsgate Studios (LION, 26.4%) and Hafnia (HAFN, 10.3%). Compared with Q4 2025, it opened 1 new position, sold out of 1 and added to 2. The biggest buy was Griffon (GFF, shares +92%) and the biggest sale an exit from Dynavax Technologies (DVAX).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001277742
Portfolio Value
$1.4B (Q1 2026)
SEC Filing
0001011438-26-000344 ↗ filed May 15, 2026

Holdings Value

0$500.0M$1.0B$1.5B$2.0B Q1 2024: $1.0B Q1 2024 Q2 2024: $820.6M Q2 2024 Q3 2024: $917.0M Q3 2024 Q4 2024: $904.4M Q4 2024 Q1 2025: $832.0M Q1 2025 Q2 2025: $901.6M Q2 2025 Q3 2025: $1.0B Q3 2025 Q4 2025: $1.2B Q4 2025 Q1 2026: $1.4B $1.4B Q1 2026 Q2 2026: $1.9B Q2 2026

Holdings 10 stocks · $1.4B
TSAT Telesat Corp. 47.72% 18,035,092 $652.9M No change
LION Lionsgate Studios Corp. 26.39% 37,648,498 $361.0M No change
HAFN Hafnia Ltd. 10.28% 18,496,652 $140.6M No change
IOVA Iovance Biotherapeutics Inc. 7.43% 28,967,103 $101.7M No change
APO Apollo Global Management Inc. 3.25% 399,505 $44.5M No change
STRZ Starz Entertainment Corp. 2.41% 2,863,232 $32.9M No change
GFF Griffon Corp. 1.27% 239,392 $17.4M Add +91.5%
PAX Patria Investments Ltd. Class A 0.83% 900,000 $11.3M Add +12.5%
WULF Terawulf Inc. 0.32% 300,000 $4.3M New
OPTU Optimum Communications Inc. Class A 0.10% 1,070,800 $1.4M No change

Portfolio Sells Q4 2025 → Q1 2026
DVAX Dynavax Technologies Corp. Sold out 0.00% −0.06

Portfolio Buys Q4 2025 → Q1 2026
GFF Griffon Corp. Add +91.5% 1.27% +0.48
WULF Terawulf Inc. New 0.32% +0.32
PAX Patria Investments Ltd. Class A Add +12.5% 0.83% −0.27

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 11$1.9BTSAT, LION, HAFN, IOVA, STRZ
Q1 2026 10$1.4BTSAT, LION, HAFN, IOVA, APO
Q4 2025 10$1.2BTSAT, LION, HAFN, IOVA, APO
Q3 2025 10$1.0BTSAT, LION, HAFN, IOVA, APO
Q2 2025 9$901.6MTSAT, LION, HAFN, APO, IOVA
Q1 2025 9$832.0MTSAT, LIONS GATE ENTMNT CORP, LGF.B, IOVA, APO
Q4 2024 9$904.4MTSAT, IOVA, LIONS GATE ENTMNT CORP, LGF.B, APO
Q3 2024 9$917.0MTSAT, IOVA, LIONS GATE ENTMNT CORP, LGF.B, APO
Q2 2024 9$820.6MIOVA, LIONS GATE ENTMNT CORP, TSAT, LGF.B, APO
Q1 2024 10$1.0BIOVA, LIONS GATE ENTMNT CORP, TSAT, LGF.B, TWI