Radcliffe Capital Management, L.P.
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Radcliffe Capital Management, L.P. reported 10 stock positions worth $13.1 million. Its top holding was Aa Mission Acquisition Cor-A (AAM) at 41.4% of the portfolio, followed by Ares Acquisition Corp. II (16.5%) and Rigel Resource Acquisit Class A (RRACF, 15.1%). Compared with Q2 2024, it opened 3 new positions and sold out of 1. The biggest buy was a new position in Aa Mission Acquisition Cor-A (AAM) and the biggest sale an exit from Zalatoris II Acquisition Cor (ZLSSF).
- Most Recent 13F
- Q2 2026
- Location
- BALA CYNWYD, PA
- CIK
- 0001218275
- Portfolio Value
- $13.1M (Q3 2024)
- SEC Filing
- 0001104659-24-118327 ↗ filed Nov 14, 2024
Holdings Value
Holdings 10 stocks · $13.1M
| AAM Aa Mission Acquisition Cor-A | 41.43% | 543,573 | $5.4M | New |
| ARES ACQUISITION CORP II | 16.47% | 200,000 | $2.2M | No change |
| RRACF Rigel Resource Acquisit Class A | 15.08% | 172,362 | $2.0M | No change |
| USAR USA Rare Earth Inc. filed as INFLECTION PT ACQUISITN CRP | 12.12% | 148,193 | $1.6M | No change |
| ALCYF Alchemy Investments Acquisit | 3.93% | 47,486 | $516K | No change |
| ESHA Esh Acquisition Corp. Class A | 3.23% | 40,000 | $424K | No change |
| HAYMAKER ACQUISITION CORP 4 | 3.07% | 37,821 | $403K | No change |
| VCICU Vine Hill Cap Invest-Unit | 2.20% | 28,896 | $289K | New |
| BITCOIN DEPOT INC | 1.47% | 121,981 | $193K | No change |
| HONDU HCM II Acquisition Corp. | 1.02% | 13,400 | $134K | New |
Other holdings (29): bonds, preferreds, convertibles and warrants · $576.0M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | 173,735,008 | $153.8M | Add +3.6% |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | 81,000,000 | $69.9M | Add +65.3% |
| MAGNITE INC (MGNI 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 69,767,000 | $64.3M | Add +4.5% |
| NEW MOUNTAIN FINANCE COR (NMFC 7.5 10/15/25) | NOTE 7.500%10/1 · principal | 50,030,000 | $50.4M | Add +3.1% |
| UNITY SOFTWARE INC (U 0 11/15/26) | NOTE 11/1 · principal | 45,238,000 | $40.4M | Add +24.9% |
| LIVONGO HEALTH (TDOC 0.875 06/01/25) | NOTE 0.875% 6/0 · principal | 34,000,000 | $32.9M | New |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | 38,000,000 | $31.0M | Add +8.6% |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 30,940,000 | $30.8M | No change |
| FIVERR INTERNATIONAL LTD (FVRR 0 11/01/25) | NOTE 11/0 · principal | 20,677,000 | $19.4M | Add +175.7% |
| ENPHASE ENERGY INC (ENPH 0 03/01/28) | NOTE 3/0 · principal | 19,000,000 | $16.7M | Add +72.7% |
| PROSPECT CAPITAL CORP (PSEC 6.375 03/01/25) | NOTE 6.375% 3/0 · principal | 13,826,000 | $13.8M | Add +12.2% |
| PACIRA BIOSCIENCES INC (PCRX 0.75 08/01/25) | NOTE 0.750% 8/0 · principal | 10,988,000 | $10.5M | New |
| ZSCALER INC. (ZS 0.125 07/01/25) | NOTE 0.125% 7/0 · principal | 5,000,000 | $6.1M | Add +100.0% |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 5,000,000 | $5.2M | No change |
| BLACKLINE INC (BL 0 03/15/26) | NOTE 3/1 · principal | 5,500,000 | $5.1M | No change |
| LYFT INC (LYFT 1.5 05/15/25) | NOTE 1.500% 5/1 · principal | 5,000,000 | $4.9M | New |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 5,000,000 | $4.8M | No change |
| AFFIRM HOLDINGS INC (AFRM 0 11/15/26) | NOTE 11/1 · principal | 4,572,000 | $4.0M | New |
| ETSY INC (ETSY 0.125 09/01/27) | NOTE 0.125% 9/0 · principal | 4,025,000 | $3.5M | No change |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | 2,500,000 | $2.3M | New |
| BILL HOLDINGS INC (BILL 0 04/01/27) | NOTE 4/0 · principal | 2,302,000 | $2.0M | Add +53.5% |
| CHEGG INC (CHGG 0.125 03/15/25) | NOTE 0.125% 3/1 · principal | 1,732,000 | $1.7M | No change |
| OKTA INC (OKTA 0.125 09/01/25) | NOTE 0.125% 9/0 · principal | 1,600,000 | $1.5M | No change |
| UPWORK INC (UPWK 0.25 08/15/26) | NOTE 0.250% 8/1 · principal | 600,000 | $547K | No change |
| DAYFORCE INC (DAY 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 500,000 | $470K | No change |
| AAM.WS Aa Mission Acquisition -30 | *W EXP 08/01/203 | 385,700 | $20K | New |
| KDKRW Ares Acquisition Corp. II-28 | *W EXP 99/99/999 | 52,042 | $9K | No change |
| USARW Inflection Point Acquis-C-28 | *W EXP 08/31/202 | 32,962 | $7K | Reduce -1.2% |
| ALCWF Alchemy Investments Acqui-28 | *W EXP 11/30/202 | 30,000 | $3K | No change |
Total filed on the 13F, all lines: $589.1M.
Portfolio Sells Q2 2024 → Q3 2024
| ZLSSF Zalatoris II Acquisition Cor | Sold out | 0.00% | −25.51 |
Portfolio Buys Q2 2024 → Q3 2024
Options Activity Q2 2024 → Q3 2024
| TRUMP MEDIA & TECHNOLOGY GRO | put | Sold out | 153,700 | $5.0Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2024 → Q3 2024
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | Add +3.6% | 173,735,008 | $153.8M |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | Add +65.3% | 81,000,000 | $69.9M |
| MAGNITE INC (MGNI 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | Add +4.5% | 69,767,000 | $64.3M |
| NEW MOUNTAIN FINANCE COR (NMFC 7.5 10/15/25) | NOTE 7.500%10/1 · principal | Add +3.1% | 50,030,000 | $50.4M |
| UNITY SOFTWARE INC (U 0 11/15/26) | NOTE 11/1 · principal | Add +24.9% | 45,238,000 | $40.4M |
| OKTA INC (OKTA 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | Sold out | 36,215,000 | $33.1Mbefore exit |
| LIVONGO HEALTH (TDOC 0.875 06/01/25) | NOTE 0.875% 6/0 · principal | New | 34,000,000 | $32.9M |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | Add +8.6% | 38,000,000 | $31.0M |
| JAZZ INVESTMENTS I LTD (JAZZ 1.5 08/15/24) | NOTE 1.500% 8/1 · principal | Sold out | 21,324,000 | $21.2Mbefore exit |
| FIVERR INTERNATIONAL LTD (FVRR 0 11/01/25) | NOTE 11/0 · principal | Add +175.7% | 20,677,000 | $19.4M |
| ENPHASE ENERGY INC (ENPH 0 03/01/28) | NOTE 3/0 · principal | Add +72.7% | 19,000,000 | $16.7M |
| PROSPECT CAPITAL CORP (PSEC 6.375 03/01/25) | NOTE 6.375% 3/0 · principal | Add +12.2% | 13,826,000 | $13.8M |
| PACIRA BIOSCIENCES INC (PCRX 0.75 08/01/25) | NOTE 0.750% 8/0 · principal | New | 10,988,000 | $10.5M |
| ZSCALER INC. (ZS 0.125 07/01/25) | NOTE 0.125% 7/0 · principal | Add +100.0% | 5,000,000 | $6.1M |
| BREAD FINANCIAL HLDGS (BFH 4.25 06/15/28) | NOTE 4.250% 6/1 · principal | Sold out | 4,000,000 | $5.3Mbefore exit |
| LYFT INC (LYFT 1.5 05/15/25) | NOTE 1.500% 5/1 · principal | New | 5,000,000 | $4.9M |
| AFFIRM HOLDINGS INC (AFRM 0 11/15/26) | NOTE 11/1 · principal | New | 4,572,000 | $4.0M |
| TURNING POINT BRANDS INC (TPB 2.5 07/15/24) | NOTE 2.500% 7/1 · principal | Sold out | 3,117,000 | $3.1Mbefore exit |
| BLACKLINE INC (BL 0.125 08/01/24) | NOTE 0.125% 8/0 · principal | Sold out | 2,613,000 | $2.6Mbefore exit |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | New | 2,500,000 | $2.3M |
| BILL HOLDINGS INC (BILL 0 04/01/27) | NOTE 4/0 · principal | Add +53.5% | 2,302,000 | $2.0M |
| BTMWQ Bitcoin Depot Inc.-CW23 | *W EXP 06/30/202 | Sold out | 741,437 | $36Kbefore exit |
| AAM.WS Aa Mission Acquisition -30 | *W EXP 08/01/203 | New | 385,700 | $20K |
| USARW Inflection Point Acquis-C-28 | *W EXP 08/31/202 | Reduce -1.2% | 32,962 | $7K |
| GBBKR Global Blockchain Acq - RTS | RIGHT 05/09/2027 | Sold out | 28,402 | $1Kbefore exit |
| RACYW Relativity Acquisition-CW27 | *W EXP 12/15/202 | Sold out | 243,574 | $0before 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 | 251 | $971.9M | AAC.U, GUACU, DBCA, EVAC, MTNE.U |
| Q1 2026 | 231 | $884.6M | DBCA, EVAC, MESH, WENN, ALOV |
| Q4 2025 | 186 | $706.4M | EVAC, MESHU, EVOX, HCMA, SDHI |
| Q3 2025 | 146 | $488.9M | MRLN, EVAC, GTEN, AACB, ATII |
| Q2 2025 | 92 | $217.8M | GTEN, COPL, ONEN, OYSEU, JACS |
| Q1 2025 | 6 | $5.6M | ARES ACQUISITION CORP II, GSRT, MGNI, HAYMAKER ACQUISITION CORP 4, BITCOIN DEPOT INC |
| Q4 2024 | 8 | $8.4M | ARES ACQUISITION CORP II, RRACF, GSRT, TDACU, BITCOIN DEPOT INC |
| Q3 2024 | 10 | $13.1M | AAM, ARES ACQUISITION CORP II, RRACF, USAR, ALCYF |
| Q2 2024 | 8 | $9.7M | ZLSSF, ARES ACQUISITION CORP II, RRACF, USAR, ALCYF |
| Q1 2024 | 39 | $129.6M | SCRM, RRACF, USAR, ARES ACQUISITION CORP II, PLAOF |