MMCAP International Inc. SPC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), MMCAP International Inc. SPC reported 146 stock positions worth $1.1 billion. Its top holding was Aris Mining (ARIS) at 12.7% of the portfolio, followed by Algoma Steel (ASTL, 4.6%) and Xanadu Quantum Technolo Class B (XNDU, 4.2%). Compared with Q4 2025, it opened 42 new positions, sold out of 10, added to 12 and reduced 13. The biggest buy was a new position in Xanadu Quantum Technolo Class B (XNDU) and the biggest sale Aris Mining (ARIS, shares −43%).
- Most Recent 13F
- Q2 2026
- Location
- GRAND CAYMAN, E9
- CIK
- 0001304857
- Portfolio Value
- $1.1B (Q1 2026)
- SEC Filing
- 0000912282-26-000731 ↗ filed May 15, 2026
Holdings Value
Holdings 146 stocks · $1.1B
| ARIS Aris Mining Corp. | 12.66% | 7,815,142 | $145.2M | Reduce -43.4% |
| ASTL Algoma Steel Group Inc. | 4.63% | 12,845,622 | $53.1M | Add +11.8% |
| XNDU Xanadu Quantum Technolo Class B | 4.20% | 6,875,000 | $48.1M | New |
| NXE Nexgen Energy Ltd. | 2.46% | 2,429,898 | $28.2M | No change |
| CCXIU Churchill Capital Corp. Xi | 2.41% | 2,700,000 | $27.7M | No change |
| DMII Drugs Made in America Acquis | 2.35% | 2,700,000 | $26.9M | No change |
| NPAC New Providence Acquisition-A | 1.97% | 2,200,000 | $22.6M | No change |
| CRDL Cardiol Therapeutics Inc. Class A | 1.81% | 15,352,317 | $20.7M | Add +7247.4% |
| FERA Fifth Era Acquisition Corp. Class A | 1.71% | 1,900,000 | $19.6M | No change |
| MZYX.U Mozayyx Acquisition Corp. | 1.52% | 1,750,000 | $17.4M | New |
| IACOU Idea Acquisition Corp. | 1.51% | 1,750,000 | $17.3M | New |
| APTV Aptiv PLC | 1.41% | 233,092 | $16.2M | Add +36.9% |
| RDAG Republic Digital Acquis Class A | 1.40% | 1,565,000 | $16.0M | No change |
| LPAA Launch One Acquisition Corp. | 1.38% | 1,480,000 | $15.9M | No change |
| CEPF Cantor Equity Partners Class A | 1.33% | 1,500,000 | $15.3M | No change |
| IPFXU Inflection Point Acquisition | 1.32% | 1,500,000 | $15.2M | New |
| IRHOU Iron Horse Acquisition II Co. | 1.30% | 1,500,000 | $14.9M | No change |
| MESHU Meshflow Acquisition Corp. | 1.30% | 1,500,000 | $14.9M | No change |
| QADRU Qdro Acquisition Corp. | 1.30% | 1,500,000 | $14.9M | New |
| IPCX Inflection Point Acquisiti-A | 1.25% | 1,400,000 | $14.3M | No change |
| HACQU HCM IV Acquisition Corp. | 1.22% | 1,400,000 | $14.0M | New |
| FAC Factorial Energy Inc. filed as CARTESIAN GROWTH CORP III | 1.21% | 1,350,000 | $13.8M | No change |
| GPAT GP-Act III Acquisition-A | 1.21% | 1,275,000 | $13.8M | No change |
| STLD Steel Dynamics Inc. | 1.16% | 73,908 | $13.3M | Add +590.0% |
| ALF Centurion Acquisition Corp. | 1.10% | 1,175,000 | $12.6M | No change |
| WENN Wen Acquisition Corp. Class A | 1.07% | 1,200,000 | $12.2M | No change |
| CEPV Cantor Equity Partners Class A | 1.06% | 1,200,000 | $12.1M | No change |
| ALOVU Aldabra 4 Liquidity Opportun | 1.04% | 1,200,000 | $11.9M | New |
| MBVI M3-Brigade Acquisition Class A | 0.96% | 1,100,000 | $11.1M | No change |
| STM Stmicroelectronics NV-NY SHS | 0.93% | 309,925 | $10.7M | New |
| CUB Lionheart Holdings Class A | 0.92% | 980,000 | $10.5M | No change |
| SIMA Sim Acquisition Corp. I-A | 0.92% | 980,000 | $10.5M | No change |
| SBXDF Silverbox Corp. IV-A | 0.91% | 980,000 | $10.5M | No change |
| UAC.U United Acquisition Corp. I | 0.91% | 1,050,000 | $10.4M | New |
| HAYMAKER ACQUISITION CORP 4 | 0.91% | 900,000 | $10.4M | No change |
| DNN Denison Mines Corp. | 0.88% | 2,857,531 | $10.1M | Reduce -60.4% |
| HCMA HCM III Acquisition Cor Class A | 0.88% | 1,000,000 | $10.1M | No change |
| FCRS Futurecrest Acquisition Class A | 0.88% | 1,000,000 | $10.1M | No change |
| WY Weyerhaeuser Co. | 0.88% | 411,384 | $10.1M | Add +25.6% |
| BLZR Trailblazer Acquisition Class A | 0.88% | 1,000,000 | $10.1M | No change |
| LPCVU Launchpad Cadenza Acquisitio | 0.87% | 1,000,000 | $10.0M | No change |
| ADACU American Drive Acquisition C | 0.87% | 1,000,000 | $10.0M | No change |
| GM General Motors Co. | 0.87% | 134,016 | $10.0M | Add +102.0% |
| SNAP Snap Inc. Class A | 0.79% | 1,958,828 | $9.0M | New |
| TONT Graf Global Corp. Class A | 0.78% | 830,000 | $8.9M | No change |
| POET Poet Technologies Inc. | 0.77% | 1,494,038 | $8.9M | Reduce -2.1% |
| SUIG Sui Group Holdings Ltd. | 0.70% | 6,650,751 | $8.0M | Add +8.3% |
| ITHAU Ithax Acquisition Corp. III | 0.69% | 800,000 | $8.0M | No change |
| CAEP Cantor Equity Partners III-A | 0.67% | 750,000 | $7.7M | No change |
| OBA Oxley Bridge Acquisitio Class A | 0.66% | 750,000 | $7.6M | No change |
| PACH Pioneer Acquisition I Class A | 0.66% | 750,000 | $7.6M | No change |
| SBXE.U Silverbox Corp. V | 0.66% | 750,000 | $7.6M | No change |
| DBCAU D Boral Acquisition I Corp. | 0.65% | 750,000 | $7.5M | New |
| EU Encore Energy Corp. | 0.65% | 4,163,436 | $7.5M | Reduce -3.5% |
| GTEN Gores Holdings X Inc. Class A | 0.63% | 700,000 | $7.2M | No change |
| AEXA American Exceptionalism Class A | 0.60% | 631,494 | $6.8M | No change |
| CRAN Crane Harbor Acquisitio Class A | 0.56% | 650,000 | $6.4M | No change |
| POLE Andretti Acquisition Corp. Class A | 0.54% | 580,000 | $6.2M | No change |
| NOEM CO2 Energy Transition Corp. | 0.53% | 590,000 | $6.1M | No change |
| SVIVU Spring Valley Acquisition Co. | 0.53% | 600,000 | $6.1M | New |
| ONCH 1RT Acquisition Corp. Class A | 0.53% | 600,000 | $6.1M | No change |
| ZONE Zone Frontier Inc. filed as CLEANCORE SOLUTIONS INC | 0.52% | 16,867,613 | $6.0M | Reduce -8.1% |
| IRAB.U Iris Acquisition Corp. II | 0.52% | 600,000 | $6.0M | New |
| VLOS Velos Acquisition I Corp. filed as M3BRIGADE ACQUISITION V CORP | 0.52% | 550,000 | $5.9M | Add +37.5% |
| MT Arcelormittal-NY Registered | 0.48% | 105,870 | $5.5M | Add +15.8% |
| SBET Sharplink Inc. | 0.45% | 807,600 | $5.2M | No change |
| LPBB Launch Two Acquisition Class A | 0.44% | 480,000 | $5.1M | No change |
| FIGX Figx Capital Acquisition C-A | 0.44% | 500,000 | $5.0M | No change |
| CAQUU Cambridge Acquisition Corp. | 0.43% | 500,000 | $5.0M | New |
| MLAAU Mountain Lake Acquisition Co. | 0.43% | 500,000 | $5.0M | New |
| PROF Profound Medical Corp. | 0.42% | 745,152 | $4.8M | Add +40.2% |
| NTWO Newbury Street II Ac Class A | 0.41% | 450,000 | $4.7M | No change |
| MOS The Mosaic Co. | 0.37% | 165,973 | $4.2M | New |
| CEPS Cantor Equity Partners Vi -A | 0.35% | 400,000 | $4.0M | New |
| BLRKU Bluerock Acquisition Corp. | 0.35% | 400,000 | $4.0M | No change |
| MEVOU M Evo Global Acquisition Cor filed as M EVO GBL ACQUISITION CORP I | 0.35% | 400,000 | $4.0M | New |
| TWLV Twelve Seas Investment Co. Class A | 0.34% | 400,000 | $3.9M | No change |
| BWA Borgwarner Inc. | 0.34% | 71,075 | $3.9M | Reduce -16.5% |
| TDAC Translational Development Ac | 0.32% | 350,000 | $3.7M | No change |
| BHAVU Bhav Acquisition Corp. | 0.30% | 350,000 | $3.5M | New |
| ARTCU Art Technology Acquisition C | 0.30% | 352,300 | $3.5M | New |
| BITF Bitfarms Ltd./Canada | 0.29% | 1,695,298 | $3.3M | No change |
| SCPQU Social Commerce Partners Cor | 0.26% | 300,000 | $3.0M | No change |
| VACH Voyager Acquisition Corp. | 0.26% | 250,000 | $3.0M | No change |
| ARCIU Archimedes Tech Spac Partner | 0.26% | 300,000 | $3.0M | New |
| IPXGU Columbus Circle Capital Corp. | 0.26% | 300,000 | $3.0M | New |
| MUZEU Muzero Acquisition Corp. | 0.26% | 300,000 | $3.0M | New |
| SVCC Stellar V Capital Corp. Class A | 0.26% | 280,000 | $2.9M | No change |
| BACC Blue Acquisition Corp. Class A | 0.22% | 250,000 | $2.6M | No change |
| LWAC Lightwave Acquisition Corp. Class A | 0.22% | 250,000 | $2.5M | No change |
| CRON Cronos Group Inc. | 0.22% | 999,490 | $2.5M | Reduce -63.8% |
| BIII.U Black Spade Acquisition III | 0.22% | 250,000 | $2.5M | New |
| RNGT Range Capital Acquisit Class A | 0.22% | 250,000 | $2.5M | No change |
| LEGO.U Legato Merger Corp. IV | 0.22% | 250,000 | $2.5M | New |
| XCBEU X3 Acquisition Corp. Ltd. | 0.22% | 250,000 | $2.5M | New |
| UPXI Upexi Inc. | 0.20% | 2,326,777 | $2.3M | No change |
| VGZ Vista Gold Corp. | 0.19% | 1,140,000 | $2.2M | New |
| NWAX.U New America Acquisition I Co. | 0.19% | 209,726 | $2.2M | New |
| ZZPWF Zooz Power Ltd. filed as ZOOZ STRATEGY LTD | 0.18% | 7,000,000 | $2.1M | No change |
| NHIC Newhold Investment Cor III-A | 0.18% | 200,000 | $2.1M | No change |
| BLUW Blue Water Acquisition C-A filed as BLUE WTR ACQUISITION CORP. I | 0.18% | 200,000 | $2.1M | No change |
| KMX Carmax Inc. | 0.18% | 49,257 | $2.0M | Add +4.2% |
| SAAQU Space Asset Acquisition Corp. | 0.18% | 200,000 | $2.0M | New |
| OYSE Oyster Enterprises II Acq-A | 0.18% | 200,000 | $2.0M | No change |
| AEAQU Activate Energy Acquisition | 0.18% | 200,000 | $2.0M | No change |
| DSACU Daedalus Special Acquisition | 0.17% | 200,000 | $2.0M | No change |
| EVOX Evolution Global Acquis Class A | 0.17% | 200,000 | $2.0M | No change |
| ORBS Eightco Holdings Inc. | 0.17% | 2,054,795 | $1.9M | New |
| GSHR Gesher Acquisition Corp. II-A | 0.16% | 175,000 | $1.8M | No change |
| HCACU Hall Chadwick Acquisition Co. | 0.16% | 175,000 | $1.8M | No change |
| CHEC Chenghe Acquisition II Class A | 0.13% | 150,000 | $1.5M | No change |
| LFACU Leapfrog Acquisition Corp. | 0.13% | 150,000 | $1.5M | No change |
| BIXI Bitcoin Infrastructure Class A | 0.13% | 150,000 | $1.5M | No change |
| CDE Coeur Mining Inc. | 0.12% | 75,000 | $1.4M | New |
| SUNC Sunococorp LLC | 0.12% | 22,755 | $1.4M | No change |
| ATII Archimedes Tech Spac Partner | 0.11% | 125,000 | $1.3M | No change |
| BSAA Best Spac I Acquisition-A | 0.11% | 125,000 | $1.3M | No change |
| ASST Strive Inc. Class A | 0.11% | 122,480 | $1.2M | New |
| GFR Greenfire Resources Ltd. | 0.10% | 182,309 | $1.2M | Reduce -12.1% |
| LEGT Legato Merger Corp. III | 0.10% | 100,000 | $1.1M | No change |
| CCIX Churchill Capital Corp. Ix | 0.09% | 100,000 | $1.1M | Reduce -92.6% |
| FSLR First Solar Inc. | 0.09% | 5,298 | $1.0M | New |
| PCAP Procap Acquisition Corp. Class A | 0.09% | 100,000 | $1.0M | No change |
| WLIIU Willow Lane Acquisition Corp. | 0.09% | 100,000 | $1.0M | New |
| CP Canadian Pacific Kansas City | 0.09% | 12,800 | $1.0M | No change |
| TMTSU Spartacus Acqu Corp. II | 0.09% | 100,000 | $1.0M | New |
| HCICU Hennessy Capital Investment | 0.09% | 100,000 | $1.0M | New |
| LATA Galata Acqu Corp. II Class A | 0.09% | 100,000 | $999K | No change |
| CF CF Industries Holdings Inc. | 0.08% | 7,022 | $912K | Reduce -22.0% |
| VMET Versamet Royalties Corp. | 0.08% | 93,100 | $884K | New |
| WRN Western Copper and Gold Corp. | 0.07% | 335,130 | $851K | New |
| ILLUU Illumination Acquisition Cor | 0.06% | 75,000 | $744K | New |
| TDWD Tailwind 2.0 Acquisitio Class A | 0.06% | 75,000 | $744K | No change |
| SSACU Spacsphere Acquisition Corp. | 0.04% | 50,000 | $504K | New |
| EMAT Evolution Metals & Technolog | 0.04% | 65,000 | $493K | New |
| UEC Uranium Energy Corp. | 0.04% | 32,335 | $437K | Reduce -97.4% |
| ETHA iShares Ethereum Trust ETF | 0.03% | 25,000 | $396K | No change |
| IMSR Terrestrial Energy Inc. | 0.02% | 44,279 | $266K | Reduce -94.1% |
| STKE Sol Strategies Inc. | 0.02% | 250,000 | $244K | No change |
| NFGC New Found Gold Corp. | 0.02% | 119,523 | $232K | Reduce -84.0% |
| QXL Quantum X Labs Inc. filed as VIEWBIX INC | 0.02% | 115,995 | $228K | No change |
| SQNS Sequans Communications-ADR | 0.01% | 37,830 | $96K | Add +2356.5% |
| ALPS Alps Group Inc. | 0.00% | 54,000 | $54K | No change |
| AEC Anfield Energy Inc. | 0.00% | 6,787 | $40K | No change |
| FUSE Fusemachines Inc. | 0.00% | 35,000 | $33K | No change |
| USAR USA Rare Earth Inc. | 0.00% | 687 | $10K | New |
Other holdings (98): bonds, preferreds, convertibles and warrants · $11.4M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| INFQ.WS Churchill Capital Corp. X | *W EXP 02/17/203 | 430,970 | $1.9M | New |
| OCSAW Oculis Holding AG -30 | *W EXP 03/06/202 | 73,025 | $949K | No change |
| FERAR Fifth Era Acquisition Corp. I | RIGHT 02/21/2030 | 1,900,000 | $570K | No change |
| IPCXR Inflection Point Acquisition | RIGHT 04/25/2030 | 1,400,000 | $490K | No change |
| FACWW Cartesian Growth Corp. -30 | *W EXP 05/02/203 | 675,000 | $459K | No change |
| DRTSW Alpha Tau Medical Ltd. -27 | *W EXP 99/99/999 | 447,622 | $448K | No change |
| CRMLW Critical Metals Corp.-28 | *W EXP 02/27/202 | 105,369 | $367K | Reduce -44.1% |
| AFRIW Forafric Global PLC -CW27 | *W EXP 06/09/202 | 518,900 | $365K | No change |
| RDAGW Republic Digital Acqu - 30 | *W EXP 05/01/203 | 782,500 | $344K | No change |
| BZAIW Burtech Acquisition -CW23 | *W EXP 01/13/203 | 750,000 | $285K | No change |
| GENVR Gen Digital Inc. - CVR | RIGHT 99/99/9999 | 542,308 | $255K | No change |
| SIMAW Sim Acquisition Corp. - 29 | *W EXP 06/01/203 | 990,000 | $248K | No change |
| DMIIR Drugs Made in America Acq-RT | RIGHT 09/16/2030 | 2,700,000 | $216K | New |
| RZLVW Rezolve AI PLC -CW27 | *W EXP 08/15/202 | 250,000 | $216K | No change |
| SATLW Satellogic Inc.-A -23 | *W EXP 01/25/202 | 166,666 | $200K | No change |
| WENNW Wen Acquisition Corp.-A -31 | *W EXP 99/99/999 | 600,000 | $192K | No change |
| AENTW Adara Acquisition Class A -CW26 | *W EXP 02/11/202 | 294,000 | $176K | No change |
| ALFUW Centurion Acquisition - 29 | *W EXP 05/31/203 | 1,237,500 | $153K | No change |
| CCIXW Churchill Capital Corp. I-29 | *W EXP 03/31/203 | 337,500 | $152K | No change |
| HCMAW HCM III Acquisition Corp. -30 | *W EXP 07/23/203 | 333,333 | $150K | No change |
| FCRS.WS Futurecrest Acquisition Corp. | *W EXP 09/30/203 | 250,000 | $148K | No change |
| GPATW GP-Act III Acq Class A -CW27 | *W EXP 05/13/202 | 1,037,500 | $145K | No change |
| NPACW New Providence Acq A -CW28 | *W EXP 04/24/203 | 733,333 | $139K | No change |
| LPAAW Launch One Acquisition - 29 | *W EXP 06/01/203 | 990,000 | $137K | No change |
| BLZRW Trailblazer Acqui Corp. -30 | *W EXP 09/30/203 | 333,333 | $132K | No change |
| MBVIW M3-Brigade Acquisition Vi Co. | *W EXP 08/18/203 | 366,666 | $127K | No change |
| CRANR Crane Harbor Acquisition-RTS | RIGHT 12/09/2030 | 650,000 | $117K | No change |
| CUBWW Lionheart Holdings - WT | *W EXP 06/07/203 | 990,000 | $114K | No change |
| VLOSW M3-Brigade Acquisition -30 | *W EXP 99/99/999 | 349,671 | $104K | No change |
| NOEMR CO2 Energy Transition Co.-RTS | RIGHT 10/15/2028 | 590,000 | $100K | No change |
| GTENW Gores Holdings X Inc.-31 | *W EXP 05/02/203 | 175,000 | $98K | No change |
| SBCWW Pono Capital Two Inc. -27 | *W EXP 09/17/202 | 330,000 | $91K | No change |
| LPBBW Launch Two Acquisition -29 | *W EXP 10/09/202 | 490,000 | $76K | No change |
| BACCR Blue Acquisition Corp.-RTS | RIGHT 06/11/2030 | 250,000 | $75K | No change |
| OBAWW Oxley Bridge Acq Ltd. -30 | *W EXP 06/17/203 | 375,000 | $75K | No change |
| SBXWF Silverbox Corp. IV-A- 29 | *W EXP 08/19/202 | 326,666 | $73K | No change |
| FIGXW Figx Capital Acquisition Cor | *W EXP 06/17/203 | 250,000 | $68K | No change |
| PACHW Pioneer Acquisition I Corp. | *W EXP 06/16/203 | 375,000 | $68K | No change |
| NOEMW CO2 Energy Transition -28 | *W EXP 08/17/202 | 590,000 | $65K | No change |
| ONCHW 1RT Acquisition Corp.-A -31 | *W EXP 06/26/203 | 150,000 | $65K | No change |
| TWLVR Twelve Seas Investment Co. II | RIGHT 11/21/2030 | 400,000 | $60K | No change |
| JACKSON ACQUISITION CO II | RIGHT 99/99/9999 | 500,000 | $58K | No change |
| TONT.WS Graf Global Corp.- 29 | *W EXP 05/31/203 | 415,000 | $54K | No change |
| BLUWW Blue Water Acquisition-CW26 | *W EXP 05/23/203 | 100,000 | $50K | No change |
| RNGTW Range Capital Acquisition Co. | *W EXP 09/29/203 | 125,000 | $45K | New |
| FUFUW Bitfufu Inc.-28 | *W EXP 03/01/202 | 330,000 | $41K | No change |
| NHICW Newhold Investment Corp. - 30 | *W EXP 01/30/203 | 100,000 | $41K | No change |
| NTWOW Newbury Street II Acq - 29 | *W EXP 06/01/203 | 225,000 | $41K | No change |
| EVOXW Evolution Global Acquisition | *W EXP 10/22/203 | 100,000 | $40K | New |
| LZM.WS Lifezone Metals Ltd. -28 | *W EXP 07/05/202 | 69,810 | $35K | No change |
| POLEW Andretti Acquisition Corp.-29 | *W EXP 06/01/203 | 290,000 | $32K | No change |
| ATIIW Archimedes Tech-30 | *W EXP 10/15/202 | 62,500 | $32K | No change |
| SPKWF Spark I Acquisition Corp.-28 | *W EXP 10/01/203 | 175,000 | $32K | No change |
| SVCCW Stellar V Capital Corp.-Class-29 | *W EXP 10/15/202 | 140,000 | $31K | No change |
| LWACW Lightwave Acquisition Corp. | *W EXP 06/06/203 | 125,000 | $30K | No change |
| EONR.WS HNR Acquisition Corp. -CW23 | *W EXP 11/15/202 | 257,500 | $29K | No change |
| AMODW Insight Acquisition Co. -CW23 | *W EXP 12/13/202 | 588,000 | $26K | No change |
| DFLIW Chardan Nextech Acquisi-CW27 | *W EXP 10/07/202 | 675,000 | $26K | No change |
| LEGT.WS Legato Merger Corp. III-29 | *W EXP 05/08/203 | 50,000 | $25K | No change |
| OYSER Oyster Enterprises II Acquis | RIGHT 05/22/2030 | 200,000 | $25K | No change |
| KITTW Cleantech Acquisition Corpcw | *W EXP 03/15/202 | 500,000 | $25K | No change |
| ALCWF Alchemy Investments Acqui-28 | *W EXP 11/30/202 | 150,000 | $24K | No change |
| GSHRW Gesher Acquisition Corp. I-30 | *W EXP 10/31/203 | 87,500 | $23K | No change |
| BIXIW Bitcoin Infrastructure Acqui | *W EXP 11/06/203 | 75,000 | $22K | No change |
| TVGNW Semper Paratus Acqu -CW26 | *W EXP 02/14/202 | 650,000 | $22K | No change |
| TDACW Translational Dev -A -CW26 | *W EXP 12/18/202 | 175,000 | $21K | No change |
| MRNOW Murano Global BV-28 | *W EXP 03/19/202 | 500,000 | $20K | No change |
| BSAAR Best Spac I Acquisition - RT | RIGHT 05/27/2030 | 125,000 | $20K | No change |
| FLDDW Fold Holdings Inc. -23 | *W EXP 02/14/203 | 175,000 | $19K | No change |
| VSEEW Digital Health Acquist-CW23 | *W EXP 99/99/999 | 500,000 | $19K | No change |
| VACHW Voyager Acquisition Corp. -CW | *W EXP 05/16/203 | 125,000 | $19K | No change |
| CHECW Chenghe Acquisition III Co. | *W EXP 09/09/203 | 75,000 | $18K | No change |
| RDZNW Vahanna Tech Edge -CW24 | *W EXP 11/30/202 | 150,000 | $17K | No change |
| TDWDR Tailwind 2.0 Acquisition-RTS | RIGHT 11/07/2030 | 75,000 | $14K | No change |
| FOXXW 1OXX | *W EXP 09/26/202 | 160,000 | $14K | No change |
| FUSEW CSLM Holdings Inc. - 30 | *W EXP 10/22/203 | 175,000 | $13K | No change |
| OABIW Omniab Inc. - CW26 | *W EXP 99/99/999 | 158,333 | $13K | No change |
| PBMWW Psyence Biomedical Ltd. | *W EXP 01/22/202 | 600,000 | $11K | No change |
| PCAPW Procap Acq Corp. A -30 | *W EXP 05/16/203 | 33,333 | $11K | No change |
| BENFW Beneficient Co. Group -28 | *W EXP 06/07/202 | 750,000 | $11K | No change |
| CYCUW Cycurion Inc.-CW27 | *W EXP 02/13/203 | 500,000 | $10K | No change |
| LATAW Galata Acquisition Corp. - 30 | *W EXP 09/12/203 | 33,333 | $10K | No change |
| ZEOWW Esgen Acquisition A -CW23 | *W EXP 03/13/202 | 195,575 | $8K | No change |
| MSAIW Sportsmap Tech Acq -CW27 | *W EXP 12/19/202 | 175,250 | $7K | No change |
| HUBCW Hub Cyber Security Ltd.-28 | *W EXP 02/27/202 | 898,991 | $6K | No change |
| CDTTW Murphy Canyon Acq-CW27 | *W EXP 09/22/202 | 700,000 | $6K | No change |
| VLNWF Valens Semiconductor -CW26 | *W EXP 09/30/202 | 214,067 | $6K | No change |
| SMXWW SMX Security Matters PLC-28 | *W EXP 03/07/202 | 125,000 | $6K | No change |
| NIVFW Newgenivf Group Ltd.-28 | *W EXP 04/03/202 | 375,000 | $5K | No change |
| PARAW 7GC & Co. Holdings Class A -CW26 | *W EXP 12/14/202 | 352,409 | $5K | No change |
| KVAWF Keen Vision Acquisition C-28 | *W EXP 03/15/202 | 150,000 | $5K | No change |
| LIMNW Liminatus Pharma Inc. Class A-28 | *W EXP 04/30/203 | 111,745 | $4K | No change |
| APLMW Apollomics Inc.-27 | *W EXP 04/01/202 | 250,000 | $4K | No change |
| KIDZW Classover Holdings Inc. - 30 | *W EXP 04/03/203 | 187,500 | $3K | No change |
| GIBOW Gibo Holdings Ltd.-30 | *W EXP 05/08/203 | 125,000 | $3K | No change |
| DAICW Cid Holdco Inc. -26 | *W EXP 12/31/202 | 100,000 | $3K | No change |
| BGLWW Blue Gold Ltd. | *W EXP 04/01/203 | 12,500 | $3K | No change |
| BNCWW Cea Industries Inc. -CW27 | *W EXP 02/11/202 | 742,575 | $239 | New |
Total filed on the 13F, all lines: $1.2B.
Portfolio Sells Q4 2025 → Q1 2026
| ARIS Aris Mining Corp. | Reduce -43.4% | 12.66% | −10.18 |
| UEC Uranium Energy Corp. | Reduce -97.4% | 0.04% | −1.45 |
| CCIX Churchill Capital Corp. Ix | Reduce -92.6% | 0.09% | −1.37 |
| DNN Denison Mines Corp. | Reduce -60.4% | 0.88% | −1.07 |
| UUUU Energy Fuels Inc. | Sold out | 0.00% | −0.53 |
| CRON Cronos Group Inc. | Reduce -63.8% | 0.22% | −0.52 |
| IMSR Terrestrial Energy Inc. | Reduce -94.1% | 0.02% | −0.44 |
| EU Encore Energy Corp. | Reduce -3.5% | 0.65% | −0.44 |
| ISOU Isoenergy Ltd. | Sold out | 0.00% | −0.25 |
| THS Treehouse Foods Inc. | Sold out | 0.00% | −0.22 |
| POET Poet Technologies Inc. | Reduce -2.1% | 0.77% | −0.21 |
| NFGC New Found Gold Corp. | Reduce -84.0% | 0.02% | −0.20 |
| URG Ur-Energy Inc. | Sold out | 0.00% | −0.07 |
| BWA Borgwarner Inc. | Reduce -16.5% | 0.34% | −0.05 |
| STRIVE INC | Sold out | 0.00% | −0.04 |
| CNL Collective Mining Ltd. | Sold out | 0.00% | −0.04 |
| DVS Dolly Varden Silver Ltd. | Sold out | 0.00% | −0.01 |
| NESR National Energy Services Reu | Sold out | 0.00% | −0.01 |
| ELONG POWER HOLDING LTD. | Sold out | 0.00% | −0.00 |
| JTAI Jet AI Inc. | Sold out | 0.00% | −0.00 |
| GFR Greenfire Resources Ltd. | Reduce -12.1% | 0.10% | +0.00 |
| CF CF Industries Holdings Inc. | Reduce -22.0% | 0.08% | +0.01 |
| ZONE Zone Frontier Inc. | Reduce -8.1% | 0.52% | +0.04 |
Portfolio Buys Q4 2025 → Q1 2026
| XNDU Xanadu Quantum Technolo Class B | New | 4.20% | +4.20 |
| CRDL Cardiol Therapeutics Inc. Class A | Add +7247.4% | 1.81% | +1.79 |
| MZYX.U Mozayyx Acquisition Corp. | New | 1.52% | +1.52 |
| IACOU Idea Acquisition Corp. | New | 1.51% | +1.51 |
| IPFXU Inflection Point Acquisition | New | 1.32% | +1.32 |
| QADRU Qdro Acquisition Corp. | New | 1.30% | +1.30 |
| HACQU HCM IV Acquisition Corp. | New | 1.22% | +1.22 |
| ALOVU Aldabra 4 Liquidity Opportun | New | 1.04% | +1.04 |
| STLD Steel Dynamics Inc. | Add +590.0% | 1.16% | +0.98 |
| STM Stmicroelectronics NV-NY SHS | New | 0.93% | +0.93 |
| UAC.U United Acquisition Corp. I | New | 0.91% | +0.91 |
| SNAP Snap Inc. Class A | New | 0.79% | +0.79 |
| DBCAU D Boral Acquisition I Corp. | New | 0.65% | +0.65 |
| SVIVU Spring Valley Acquisition Co. | New | 0.53% | +0.53 |
| IRAB.U Iris Acquisition Corp. II | New | 0.52% | +0.52 |
| CAQUU Cambridge Acquisition Corp. | New | 0.43% | +0.43 |
| MLAAU Mountain Lake Acquisition Co. | New | 0.43% | +0.43 |
| MOS The Mosaic Co. | New | 0.37% | +0.37 |
| CEPS Cantor Equity Partners Vi -A | New | 0.35% | +0.35 |
| MEVOU M Evo Global Acquisition Cor | New | 0.35% | +0.35 |
| GM General Motors Co. | Add +102.0% | 0.87% | +0.32 |
| BHAVU Bhav Acquisition Corp. | New | 0.30% | +0.30 |
| ARTCU Art Technology Acquisition C | New | 0.30% | +0.30 |
| ARCIU Archimedes Tech Spac Partner | New | 0.26% | +0.26 |
| IPXGU Columbus Circle Capital Corp. | New | 0.26% | +0.26 |
| MUZEU Muzero Acquisition Corp. | New | 0.26% | +0.26 |
| BIII.U Black Spade Acquisition III | New | 0.22% | +0.22 |
| LEGO.U Legato Merger Corp. IV | New | 0.22% | +0.22 |
| XCBEU X3 Acquisition Corp. Ltd. | New | 0.22% | +0.22 |
| VGZ Vista Gold Corp. | New | 0.19% | +0.19 |
| NWAX.U New America Acquisition I Co. | New | 0.19% | +0.19 |
| SAAQU Space Asset Acquisition Corp. | New | 0.18% | +0.18 |
| ORBS Eightco Holdings Inc. | New | 0.17% | +0.17 |
| CDE Coeur Mining Inc. | New | 0.12% | +0.12 |
| ASST Strive Inc. Class A | New | 0.11% | +0.11 |
| APTV Aptiv PLC | Add +36.9% | 1.41% | +0.09 |
| FSLR First Solar Inc. | New | 0.09% | +0.09 |
| WLIIU Willow Lane Acquisition Corp. | New | 0.09% | +0.09 |
| TMTSU Spartacus Acqu Corp. II | New | 0.09% | +0.09 |
| HCICU Hennessy Capital Investment | New | 0.09% | +0.09 |
| WY Weyerhaeuser Co. | Add +25.6% | 0.88% | +0.09 |
| VLOS Velos Acquisition I Corp. | Add +37.5% | 0.52% | +0.08 |
| VMET Versamet Royalties Corp. | New | 0.08% | +0.08 |
| WRN Western Copper and Gold Corp. | New | 0.07% | +0.07 |
| ILLUU Illumination Acquisition Cor | New | 0.06% | +0.06 |
| MT Arcelormittal-NY Registered | Add +15.8% | 0.48% | +0.06 |
| SSACU Spacsphere Acquisition Corp. | New | 0.04% | +0.04 |
| EMAT Evolution Metals & Technolog | New | 0.04% | +0.04 |
| SQNS Sequans Communications-ADR | Add +2356.5% | 0.01% | +0.01 |
| USAR USA Rare Earth Inc. | New | 0.00% | +0.00 |
Notes & Other Activity Q4 2025 → Q1 2026
| INFQ.WS Churchill Capital Corp. X | *W EXP 05/14/203 | Sold out | 430,970 | $3.3Mbefore exit |
| INFQ.WS Churchill Capital Corp. X | *W EXP 02/17/203 | New | 430,970 | $1.9M |
| HYAC.WS Haymaker Acquisition Corp.-28 | *W EXP 05/31/202 | Sold out | 450,000 | $698Kbefore exit |
| CRMLW Critical Metals Corp.-28 | *W EXP 02/27/202 | Reduce -44.1% | 105,369 | $367K |
| DMIIR Drugs Made in America Acq-RT | RIGHT 09/16/2030 | New | 2,700,000 | $216K |
| RNGTW Range Capital Acquisition Co. | *W EXP 09/29/203 | New | 125,000 | $45K |
| EVOXW Evolution Global Acquisition | *W EXP 10/22/203 | New | 100,000 | $40K |
| OIOWW Esgl Holdings Ltd.-28 | *W EXP 08/02/202 | Sold out | 154,750 | $15Kbefore exit |
| ABPWW Atlantic Coast Acq -CW23 | *W EXP 11/12/202 | Sold out | 675,000 | $11Kbefore exit |
| BNCWW Cea Industries Inc. -CW27 | *W EXP 02/11/202 | New | 742,575 | $239 |
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 | 161 | $1.2B | ARIS, ASTL, CXII, DMII, NXE |
| Q1 2026 | 146 | $1.1B | ARIS, ASTL, XNDU, NXE, CCXIU |
| Q4 2025 | 114 | $983.0M | ARIS, ASTL, CCXIU, DMIIU, NPAC |
| Q3 2025 | 87 | $838.7M | ARIS, ASTL, UEC, DMIIU, DNN |
| Q2 2025 | 73 | $814.6M | ARIS, UEC, ASTL, POET, DNN |
| Q1 2025 | 58 | $579.6M | UEC, ARIS, ML, ASTL, DNN |
| Q4 2024 | 62 | $659.0M | UEC, ASTL, ML, ARIS, DNN |
| Q3 2024 | 63 | $714.2M | UEC, ASTL, ARIS, DNN, URG |
| Q2 2024 | 68 | $713.0M | UEC, ASTL, ARIS, URG, NXE |
| Q1 2024 | 64 | $763.4M | UEC, ASTL, CVE, DNN, ARIS |