Radcliffe Capital Management, L.P.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Radcliffe Capital Management, L.P. reported 146 stock positions worth $488.9 million. Its top holding was Merlin (MRLN) at 1.9% of the portfolio, followed by Eqv Ventures Acquisition C-A (EVAC, 1.8%) and Gores Holdings X Class A (GTEN, 1.4%). Compared with Q2 2025, it opened 57 new positions, sold out of 1, added to 63 and reduced 15. The biggest buy was a new position in Eqv Ventures Acquisition C-A (EVAC) and the biggest sale Copley Acquisition Class A (COPL, shares −15%).
- Most Recent 13F
- Q2 2026
- Location
- BALA CYNWYD, PA
- CIK
- 0001218275
- Portfolio Value
- $488.9M (Q3 2025)
- SEC Filing
- 0001104659-25-111926 ↗ filed Nov 14, 2025
Holdings Value
Holdings 146 stocks · $488.9M
| MRLN Merlin Inc. filed as BLEICHROEDER ACQUISITION COR | 1.94% | 912,239 | $9.5M | Add +628.0% |
| EVAC Eqv Ventures Acquisition C-A | 1.75% | 860,000 | $8.6M | New |
| GTEN Gores Holdings X Inc. Class A | 1.37% | 658,063 | $6.7M | No change |
| AACB Artius II Acquisition Inc. Class A | 1.35% | 650,000 | $6.6M | Add +142.5% |
| ATII Archimedes Tech Spac Partner | 1.28% | 611,522 | $6.3M | Add +87.1% |
| GPAT GP-Act III Acquisition-A | 1.24% | 572,895 | $6.1M | Add +287.8% |
| PACH Pioneer Acquisition I Class A | 1.21% | 592,475 | $5.9M | Add +18.5% |
| TMS Teamshares Inc. filed as LIVE OAK ACQUISITION CORP V | 1.20% | 575,000 | $5.9M | Add +5614.6% |
| MBVIU M3-Brigade Acquisition Vi Co. | 1.19% | 575,000 | $5.8M | New |
| HCMA HCM III Acquisition Cor Class A | 1.19% | 575,000 | $5.8M | New |
| ONEN One Nuclear Energy Inc. filed as HENNESSY CAP INVT CORP VII | 1.18% | 568,447 | $5.8M | Add +0.9% |
| DMIIU Drugs Made in America Acquis | 1.17% | 575,000 | $5.7M | New |
| NPAC New Providence Acquisition-A | 1.16% | 558,386 | $5.7M | Add +3773.1% |
| SDHI Siddhi Acquisition Corp. Class A | 1.14% | 550,000 | $5.6M | Add +9.8% |
| CCII Cohen Circle Acquisit II - A | 1.14% | 550,000 | $5.6M | New |
| SOUL Soulpower Acquisition Co. Class A | 1.14% | 550,126 | $5.6M | Add +25.1% |
| OTGAU Otg Acquisition Corp. I | 1.13% | 550,000 | $5.5M | New |
| HDRN Hadron Energy Inc. filed as GIGCAPITAL7 CORP | 1.13% | 523,973 | $5.5M | Add +3240.8% |
| AAM Aa Mission Acquisition Cor-A | 1.11% | 516,776 | $5.4M | Add +341.4% |
| DMAA Drugs Made in America Acquis | 1.11% | 528,100 | $5.4M | Add +316.7% |
| DRDB Roman DBDR Acquisition Corp. | 1.11% | 525,000 | $5.4M | Add +192.6% |
| HVMCU Highview Merger Corp. | 1.10% | 532,201 | $5.4M | New |
| SIMA Sim Acquisition Corp. I-A | 1.10% | 510,032 | $5.4M | Add +88.5% |
| OBA Oxley Bridge Acquisitio Class A | 1.09% | 538,089 | $5.4M | Add +7.6% |
| CHAC Crane Harbor Acqu Corp. Class A | 1.09% | 525,000 | $5.3M | Add +13.1% |
| TLNCU Talon Capital Corp. | 1.09% | 529,232 | $5.3M | New |
| JACS Jackson Acquisition Co. Class A | 1.09% | 512,173 | $5.3M | Reduce -4.6% |
| TACH Titan Acquisition Corp. Class A | 1.09% | 525,000 | $5.3M | Add +97.7% |
| COPL Copley Acquisition Corp. Class A | 1.08% | 523,589 | $5.3M | Reduce -15.1% |
| OYSE Oyster Enterprises II Acq-A | 1.08% | 525,110 | $5.3M | Reduce -4.7% |
| KCHV Kochav Defense Acquisition-A | 1.08% | 525,000 | $5.3M | Add +5.0% |
| VACH Voyager Acquisition Corp. | 1.07% | 500,000 | $5.2M | No change |
| BLZRU Trailblazer Acquisition Corp. | 1.07% | 512,705 | $5.2M | New |
| TDAC Translational Development Ac | 1.07% | 504,305 | $5.2M | Add +187.7% |
| KFII K&F Growth Acquisition Cor-A | 1.06% | 508,291 | $5.2M | Add +45.5% |
| FACT Fact II Acquisition Corp. | 1.06% | 500,000 | $5.2M | New |
| CEPF Cantor Equity Partners Class A | 1.05% | 504,049 | $5.1M | New |
| FAC Factorial Energy Inc. filed as CARTESIAN GROWTH CORP III | 1.04% | 508,413 | $5.1M | New |
| NHIC Newhold Investment Cor III-A | 1.03% | 493,204 | $5.0M | Add +169.4% |
| TVAI Thayer Ventures Acquis Class A | 1.03% | 500,000 | $5.0M | Reduce -6.3% |
| XRPN Armada Acquisition Class A | 1.02% | 479,191 | $5.0M | Reduce -10.4% |
| POLE Andretti Acquisition Corp. Class A | 1.02% | 477,001 | $5.0M | Add +107.5% |
| EGHA Egh Acquisition Co. Class A | 0.98% | 478,972 | $4.8M | Add +80.9% |
| BACC Blue Acquisition Corp. Class A | 0.98% | 479,220 | $4.8M | Reduce -4.2% |
| EMISU Emmis Acquisition Corp. | 0.97% | 475,000 | $4.7M | New |
| BLUW Blue Water Acquisition C-A filed as BLUE WTR ACQUISITION CORP. I | 0.97% | 475,000 | $4.7M | Reduce -5.0% |
| TVA Texas Ventures Acquisition-A | 0.97% | 442,191 | $4.7M | Add +5.3% |
| LWAC Lightwave Acquisition Corp. Class A | 0.97% | 475,000 | $4.7M | Add +23.5% |
| AXIN Axiom Intelligence Class A | 0.96% | 472,187 | $4.7M | Add +25.7% |
| CRAQ Cal Redwood Acquisit Class A | 0.96% | 469,046 | $4.7M | Reduce -7.1% |
| KOYN CSLM Digital Asset Acqu - A | 0.94% | 464,278 | $4.6M | New |
| BCAR D. Boral Arc Acquisit Class A | 0.92% | 455,349 | $4.5M | New |
| MACI Melar Acquisition Corp. I-A | 0.92% | 426,939 | $4.5M | Add +45.0% |
| ANSC Agriculture & Natural Soluti | 0.90% | 404,458 | $4.4M | Add +20.1% |
| ALF Centurion Acquisition Corp. | 0.90% | 416,795 | $4.4M | Add +2606.1% |
| PLMK Plum Acquisition Corp. IV | 0.90% | 425,330 | $4.4M | Add +36.6% |
| AEXA American Exceptionalism Class A | 0.89% | 400,000 | $4.4M | New |
| WENN Wen Acquisition Corp. Class A | 0.89% | 427,777 | $4.3M | Add +222.6% |
| SZZL Sizzle Acquisition Corp. Class A | 0.88% | 427,445 | $4.3M | Reduce -11.0% |
| JENA Jena Acquisition Corp. II - A | 0.86% | 415,634 | $4.2M | Add +61.7% |
| FTW Eqv Ventures Acquisition C-A | 0.84% | 397,032 | $4.1M | Add +490.4% |
| GSRFU GSR IV Acquisition Corp. | 0.84% | 403,911 | $4.1M | New |
| RAC Rithm Acquisition Corp. Class A | 0.84% | 399,101 | $4.1M | Add +1.2% |
| CCAQ Collective Acquisition Corp. filed as DUNE ACQUISITION CORP II | 0.83% | 400,000 | $4.0M | Add +30.4% |
| RAAQ Real Asset Acquisiti Class A | 0.80% | 384,606 | $3.9M | Add +18.0% |
| LEGT Legato Merger Corp. III | 0.80% | 362,491 | $3.9M | Add +92.4% |
| NMP NMP Acquisition Corp. Class A | 0.76% | 374,900 | $3.7M | New |
| INFQ Infleqtion Inc. filed as CHURCHILL CAP CORP X | 0.75% | 283,917 | $3.7M | New |
| SVACU Spring Valley Acquisition Co. | 0.75% | 354,972 | $3.6M | New |
| VNME Vendome Acquisition Corp. Class A | 0.74% | 365,419 | $3.6M | New |
| TACO Berto Acquisition Corp. | 0.73% | 344,382 | $3.6M | Add +139.8% |
| NTWO Newbury Street II Ac Class A | 0.72% | 340,437 | $3.5M | Add +23.0% |
| PCAP Procap Acquisition Corp. Class A | 0.72% | 342,962 | $3.5M | Add +357.3% |
| MKLYU McKinley Acquisition Corp. | 0.72% | 350,000 | $3.5M | New |
| LATAU Galata Acquisition Corp. II | 0.71% | 350,000 | $3.5M | New |
| ALDF Aldel Financial II Inc. | 0.71% | 332,032 | $3.5M | Add +246.6% |
| ENHA Enhanced Group Inc. filed as A PARADISE ACQUISITION CORP | 0.71% | 350,000 | $3.5M | New |
| FERA Fifth Era Acquisition Corp. Class A | 0.69% | 329,202 | $3.4M | Add +214.8% |
| CAEP Cantor Equity Partners III-A | 0.68% | 323,190 | $3.3M | Add +7.7% |
| BEAG Bold Eagle Acquisition Cor-A | 0.68% | 319,931 | $3.3M | Add +49.4% |
| PAII Pyrophyte Acquisition Corp. Class A | 0.66% | 323,063 | $3.2M | New |
| SPEG Silver Pegasus Acquisition-A | 0.65% | 318,618 | $3.2M | New |
| MCGA Yorkville Acquisition Corp. Class A | 0.65% | 297,731 | $3.2M | New |
| FIGX Figx Capital Acquisition C-A | 0.63% | 306,953 | $3.1M | Add +2.3% |
| CHECU Chenghe Acquisition III Co. | 0.61% | 300,000 | $3.0M | New |
| GTERA Globa Terra Acquisition Co. Class A | 0.61% | 300,000 | $3.0M | New |
| SOCA Solarius Capital Acquis Class A | 0.61% | 300,040 | $3.0M | New |
| NETD Nabors Energy Transition C-A | 0.57% | 250,000 | $2.8M | No change |
| VCIC Vine Hill Capital Class A | 0.55% | 252,587 | $2.7M | Add +350.1% |
| IPCX Inflection Point Acquisiti-A | 0.54% | 264,243 | $2.7M | New |
| CUB Lionheart Holdings Class A | 0.54% | 248,872 | $2.6M | Add +222.4% |
| PELI Pelican Acquisition Corp. | 0.51% | 249,365 | $2.5M | Reduce -0.8% |
| INAC Indigo Acquisition Corp. | 0.51% | 250,000 | $2.5M | New |
| CHPG Championsgate Acquisitio-A | 0.49% | 239,738 | $2.4M | Reduce -17.2% |
| OACC Oaktree Acquisition Corp. I-A | 0.49% | 225,662 | $2.4M | Add +175.5% |
| PGAC Pantages Capital Acquisition | 0.48% | 229,090 | $2.4M | No change |
| LPBB Launch Two Acquisition Class A | 0.43% | 201,486 | $2.1M | Add +121.7% |
| PMTR Perimeter Acquis Corp. I Class A | 0.42% | 203,057 | $2.1M | Add +80.3% |
| TDOC Teladoc Health Inc. | 0.41% | 262,400 | $2.0M | Add +857.7% |
| MLAC Mountain Lake Acquisition-A | 0.41% | 193,057 | $2.0M | Add +99.3% |
| FIVN FIVE9 Inc. | 0.38% | 77,500 | $1.9M | New |
| SBXDF Silverbox Corp. IV-A | 0.38% | 177,412 | $1.9M | Add +14.4% |
| BRR Columbus Circle Capital Co. Class A | 0.37% | 179,930 | $1.8M | No change |
| BCSS.U Bain Capital GSS Investment | 0.37% | 179,323 | $1.8M | New |
| GSHR Gesher Acquisition Corp. II-A | 0.35% | 168,706 | $1.7M | Add +117.5% |
| BSAA Best Spac I Acquisition-A | 0.35% | 170,000 | $1.7M | New |
| APACU Stonebridge Acquisition II C | 0.33% | 160,000 | $1.6M | New |
| BDCIU BTC Development Corp. | 0.32% | 152,500 | $1.5M | New |
| QUMSU Quantumsphere Acquisition Co. | 0.31% | 150,000 | $1.5M | New |
| RDAG Republic Digital Acquis Class A | 0.30% | 144,024 | $1.5M | New |
| CCIX Churchill Capital Corp. Ix | 0.29% | 135,985 | $1.4M | New |
| DAAQ Digital Asset Acquisiti Class A | 0.27% | 129,168 | $1.3M | Add +72.2% |
| SSEAU Starry Sea Acquisition Corp. | 0.27% | 128,372 | $1.3M | New |
| UYSC Uy Scuti Acquisition Corp. | 0.26% | 125,125 | $1.3M | No change |
| RTAC Renatus Tactical Acquisiti-A | 0.25% | 113,079 | $1.2M | Add +61.5% |
| PCRX Pacira Biosciences Inc. | 0.25% | 47,589 | $1.2M | New |
| SVCC Stellar V Capital Corp. Class A | 0.24% | 115,315 | $1.2M | New |
| DYNC Dynamix Corp. | 0.24% | 110,688 | $1.2M | Reduce -28.6% |
| IPEX Inflection Point Acquisition filed as MAYWOOD ACQUISITION CORP | 0.23% | 112,050 | $1.1M | Add +437.0% |
| TAVI Tavia Acquisition Corp. | 0.21% | 98,908 | $1.0M | Add +352.8% |
| LCCC Lakeshore Acquisition III Co. | 0.21% | 100,052 | $1.0M | Add +0.1% |
| WTG Wintergreen Acquisition Corp. | 0.20% | 99,016 | $997K | Reduce -20.8% |
| MGNI Magnite Inc. | 0.18% | 40,000 | $871K | Reduce -20.0% |
| HAYMAKER ACQUISITION CORP 4 | 0.18% | 76,631 | $869K | Add +665.5% |
| GSRT GSR III Acquisition Corp. | 0.17% | 78,283 | $811K | Reduce -32.8% |
| FCRS.U Futurecrest Acquisition Corp. | 0.16% | 75,000 | $795K | New |
| CHAR Charlton Aria Acquisiti Class A | 0.16% | 75,051 | $778K | New |
| JAAA Janus Henderson Aaa Clo ETF | 0.15% | 14,329 | $728K | New |
| TONT Graf Global Corp. Class A | 0.14% | 63,656 | $671K | New |
| ONCH 1RT Acquisition Corp. Class A | 0.13% | 61,223 | $640K | New |
| COLA Columbus Acquisition Corp. | 0.12% | 58,050 | $595K | New |
| LPAA Launch One Acquisition Corp. | 0.12% | 55,905 | $587K | New |
| SPKLF Spark I Acquisition Corp. | 0.12% | 48,708 | $566K | No change |
| WLAC Willow Lane Acquisition Class A | 0.11% | 48,200 | $558K | Add +67.6% |
| VLOS Velos Acquisition I Corp. filed as M3BRIGADE ACQUISITION V CORP | 0.11% | 51,523 | $544K | New |
| CEPT Cantor Equity Partners Class A | 0.10% | 44,433 | $467K | New |
| ASPC A Spac III Acquisition Class A | 0.07% | 32,870 | $340K | No change |
| RFAI RF Acquisition Corp. II | 0.07% | 30,066 | $323K | New |
| NOEM CO2 Energy Transition Corp. | 0.06% | 30,291 | $308K | New |
| CAPN Cayson Acquisition Corp. | 0.06% | 26,904 | $282K | No change |
| QSEA Quartzsea Acquisition Corp. | 0.06% | 26,553 | $269K | No change |
| RANG Range Capital Acquisition Co. | 0.05% | 25,706 | $267K | Add +39.8% |
| HSPT Horizon Space Acquisition II | 0.03% | 15,017 | $156K | No change |
| CEPO Cantor Equity Partners I-A | 0.03% | 12,976 | $136K | New |
| FRNM Freenome Inc. filed as PERCEPTIVE CAP SOLUTIONS COR | 0.03% | 12,027 | $128K | New |
| HPAI Helport AI Ltd. | 0.01% | 10,514 | $37K | New |
Other holdings (91): bonds, preferreds, convertibles and warrants · $1.1B (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| ENPHASE ENERGY INC (ENPH 0 03/01/26) | NOTE 3/0 · principal | 142,750,000 | $139.0M | Add +1.8% |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | 119,027,000 | $118.1M | New |
| NEW MOUNTAIN FINANCE COR (NMFC 7.5 10/15/25) | NOTE 7.500%10/1 · principal | 114,047,000 | $114.0M | Add +70.1% |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | 115,750,000 | $108.1M | Add +22.2% |
| FIVERR INTERNATIONAL LTD (FVRR 0 11/01/25) | NOTE 11/0 · principal | 103,677,000 | $103.2M | Add +3.0% |
| MAGNITE INC (MGNI 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 74,767,000 | $72.7M | No change |
| RINGCENTRAL INC (RNG 0 03/15/26) | NOTE 3/1 · principal | 68,006,000 | $66.3M | Add +61.0% |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | 57,500,000 | $56.5M | New |
| BANDWIDTH INC (BAND 0.5 04/01/28) | NOTE 0.500% 4/0 · principal | 49,900,000 | $42.4M | Add +28.3% |
| ENPHASE ENERGY INC (ENPH 0 03/01/28) | NOTE 3/0 · principal | 42,639,000 | $36.9M | No change |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | 38,000,000 | $33.5M | No change |
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | 34,255,000 | $33.4M | No change |
| ALARM.COM HLDGS INC (ALRM 0 01/15/26) | NOTE 1/1 · principal | 22,250,000 | $21.9M | Add +64.8% |
| GLADSTONE CAPITAL CORP (GLAD 5.875 10/01/30) | NOTE 5.875%10/0 · principal | 18,000,000 | $17.8M | New |
| UNITY SOFTWARE INC (U 0 11/15/26) | NOTE 11/1 · principal | 18,461,000 | $17.6M | No change |
| ARRAY TECHNOLOGIES INC (ARRY 1 12/01/28) | NOTE 1.000%12/0 · principal | 15,500,000 | $13.4M | Add +29.2% |
| FUBOTV INC (FUBO 3.25 02/15/26) | NOTE 3.250% 2/1 · principal | 11,737,000 | $11.6M | New |
| UPWORK INC (UPWK 0.25 08/15/26) | NOTE 0.250% 8/1 · principal | 11,123,000 | $10.8M | Reduce -28.7% |
| ETSY INC (ETSY 0.125 09/01/27) | NOTE 0.125% 9/0 · principal | 11,600,000 | $10.7M | No change |
| BLACKLINE INC (BL 0 03/15/26) | NOTE 3/1 · principal | 10,692,000 | $10.4M | Add +32.1% |
| VAIL RESORTS INC (MTN 0 01/01/26) | NOTE 1/0 · principal | 10,000,000 | $9.9M | New |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | 7,780,000 | $7.6M | Reduce -5.9% |
| SNOWFLAKE INC (SNOW 0 10/01/27) | NOTE 10/0 · principal | 5,000,000 | $7.6M | New |
| COINBASE GLOBAL INC (COIN 0.25 04/01/30) | NOTE 0.250% 4/0 · principal | 6,000,000 | $7.5M | Add +100.0% |
| BILL HOLDINGS INC (BILL 0 04/01/27) | NOTE 4/0 · principal | 7,302,000 | $6.8M | No change |
| FIVE9 INC (FIVN 1 03/15/29) | NOTE 1.000% 3/1 · principal | 7,500,000 | $6.6M | New |
| STRATEGY INC (MSTR 0.625 03/15/30) | NOTE 0.625% 3/1 · principal | 2,500,000 | $5.6M | No change |
| NOVOCURE LTD (NVCR 0 11/01/25) | NOTE 11/0 · principal | 5,480,000 | $5.4M | New |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | 5,000,000 | $5.2M | No change |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 5,000,000 | $5.2M | No change |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 5,000,000 | $4.6M | New |
| DMAAR Drugs Made in America Ac-RTS | RIGHT 12/09/2029 | 325,100 | $3.3M | New |
| TAVIR Tavia Acquisition Corp. | RIGHT 11/26/2029 | 181,900 | $1.9M | New |
| NMPAR NMP Acquisition Corp. | RIGHT 06/27/2030 | 75,000 | $745K | New |
| KCHVR Kochav Defense Acquisition-R | RIGHT 05/21/2030 | 71,429 | $716K | Reduce -85.7% |
| OYSER Oyster Enterprises II Acquis | RIGHT 05/22/2030 | 55,108 | $553K | Reduce -90.0% |
| TVAIR Thayer Ventures Acquisition | RIGHT 05/15/2030 | 53,688 | $539K | Reduce -89.9% |
| CRAQR Cal Redwood Acquisition Corp. | RIGHT 05/15/2030 | 50,339 | $503K | Reduce -90.0% |
| BACCR Blue Acquisition Corp.-RTS | RIGHT 06/11/2030 | 50,000 | $500K | Reduce -90.0% |
| AXINR Axiom Intelligence Acquisiti | RIGHT 06/10/2030 | 40,880 | $407K | Reduce -89.1% |
| SDHIR Siddhi Acquisition Corp. | RIGHT 09/15/2029 | 37,730 | $383K | Reduce -82.6% |
| APADR A Paradise Acquisition Corp. | RIGHT 07/29/2025 | 37,500 | $372K | New |
| CHPGR Championsgate Acquisition Co. | RIGHT 05/14/2030 | 36,177 | $365K | New |
| SZZLR Sizzle Acquisition Corp. -RTS | RIGHT 04/02/2030 | 33,995 | $343K | Reduce -85.4% |
| SOULPOWER ACQUISITION CORP | RIGHT 99/99/9999 | 32,579 | $329K | Reduce -83.9% |
| SPEGR Silver Pegasus Acquisition C | RIGHT 06/26/2030 | 32,922 | $328K | New |
| JENA ACQUISITION CORP II-RTS | RIGHT 03/31/2030 | 27,239 | $276K | Reduce -89.4% |
| EGHAR Egh Acquisition Corp.-RTS | RIGHT 99/99/9999 | 26,562 | $267K | Reduce -90.0% |
| AACBR Artius II Acquisition Inc. | RIGHT 11/27/2029 | 25,006 | $254K | New |
| XRPNW Armada Acquisition Corp - A | *W EXP 05/21/203 | 267,515 | $253K | No change |
| GTERR Globa Terra Acquisition-RTS | RIGHT 06/17/2030 | 25,000 | $250K | New |
| INACR Indigo Acquisition Corp. | RIGHT 04/02/2027 | 25,000 | $249K | New |
| KFIIR K&F Growth Acquisition Corp. | RIGHT 08/29/2031 | 24,057 | $246K | New |
| BSAAR Best Spac I Acquisition - RT | RIGHT 05/27/2030 | 17,000 | $171K | Reduce -90.0% |
| WTGUR Wintergreen Acquisition-RT | RIGHT 99/99/9999 | 16,252 | $164K | Reduce -87.0% |
| LCCCR Lakeshore Acquisition III Co. | RIGHT 08/01/2026 | 13,641 | $137K | Reduce -83.3% |
| HCMAW HCM III Acquisition Corp. -30 | *W EXP 07/23/203 | 191,665 | $135K | New |
| GTENW Gores Holdings X Inc.-31 | *W EXP 05/02/203 | 164,515 | $133K | No change |
| FERAR Fifth Era Acquisition Corp. I | RIGHT 02/21/2030 | 11,495 | $117K | New |
| RANGR Range Capital Acquisition Co. | RIGHT 99/99/9999 | 10,000 | $104K | New |
| CCIIW Cohen Circle Acq II -30 | *W EXP 07/01/203 | 125,000 | $100K | New |
| TVACW Texas Ventures Acq -31 | *W EXP 04/23/203 | 85,900 | $97K | Reduce -30.8% |
| KOYNW CSLM Digital Asset Acquisiti | *W EXP 08/28/203 | 228,986 | $92K | New |
| BRRWW Columbus Circle Capital -30 | *W EXP 05/16/203 | 62,776 | $73K | No change |
| WENNW Wen Acquisition Corp.-A -31 | *W EXP 99/99/999 | 113,810 | $65K | Add +71.6% |
| EVAC.WS Eqv Ventures Acquisition Cor | *W EXP 06/30/203 | 266,665 | $65K | New |
| MCGAW Yorkville Acquisition - 30 | *W EXP 06/06/203 | 49,899 | $62K | Reduce -0.2% |
| PACHW Pioneer Acquisition I Corp. | *W EXP 06/16/203 | 250,000 | $53K | No change |
| LWACW Lightwave Acquisition Corp. | *W EXP 06/06/203 | 250,000 | $47K | Add +30.0% |
| OBAWW Oxley Bridge Acq Ltd. -30 | *W EXP 06/17/203 | 249,999 | $45K | No change |
| CCAQW Dune Acquisition Corp. II -30 | *W EXP 04/04/203 | 210,324 | $45K | No change |
| FACWW Cartesian Growth Corp. -30 | *W EXP 05/02/203 | 145,742 | $39K | No change |
| VNMEW Vendome Acquisition Corp. I | *W EXP 07/03/202 | 187,500 | $38K | New |
| FIGXW Figx Capital Acquisition Cor | *W EXP 06/17/203 | 153,145 | $35K | Add +2.1% |
| COPL.WS Copley Acquisition Corp. -30 | *W EXP 99/99/999 | 157,739 | $34K | No change |
| PMTRW Perimeter Acquis Corp. I -30 | *W EXP 05/13/203 | 56,300 | $34K | New |
| BCARW D Boral Arc Acquisition - 30 | *W EXP 07/23/203 | 177,673 | $34K | New |
| BLUWW Blue Water Acquisition-CW26 | *W EXP 05/23/203 | 225,000 | $33K | Reduce -10.0% |
| RTACW Renatus Tactical Acqu - 30 | *W EXP 05/15/203 | 24,394 | $29K | No change |
| SOCAW Solarius Capital Acqui -30 | *W EXP 07/10/203 | 125,100 | $28K | New |
| PAII.WS Pyrophyte Acquisition Corp. I | *W EXP 07/30/203 | 77,981 | $27K | New |
| GTERW Globa Terra Acquisition - 30 | *W EXP 06/17/203 | 187,500 | $24K | New |
| PCAPW Procap Acq Corp. A -30 | *W EXP 05/16/203 | 30,432 | $21K | Add +21.9% |
| TACOW Berto Acquisition Corp. - 30 | *W EXP 05/01/203 | 26,343 | $18K | No change |
| HDRNW GIGCAPITAL7 Corp.-A - 29 | *W EXP 08/29/202 | 31,747 | $15K | Reduce -57.0% |
| ONCHW 1RT Acquisition Corp.-A -31 | *W EXP 06/26/203 | 14,830 | $14K | New |
| HVIIR Hennessy Capital Investment | RIGHT 01/17/2030 | 25,151 | $7K | New |
| AAM.WS Aa Mission Acquisition -30 | *W EXP 08/01/203 | 38,199 | $7K | Add +7.8% |
| TACHW Titan Acquisition Corp -30 | *W EXP 05/16/203 | 13,499 | $4K | No change |
| ALCWF Alchemy Investments Acqui-28 | *W EXP 11/30/202 | 30,000 | $4K | No change |
| GPATW GP-Act III Acq Class A -CW27 | *W EXP 05/13/202 | 13,070 | $3K | New |
Total filed on the 13F, all lines: $1.6B.
Portfolio Sells Q2 2025 → Q3 2025
| COPL Copley Acquisition Corp. Class A | Reduce -15.1% | 1.08% | −1.77 |
| OYSE Oyster Enterprises II Acq-A | Reduce -4.7% | 1.08% | −1.48 |
| TVAI Thayer Ventures Acquis Class A | Reduce -6.3% | 1.03% | −1.46 |
| JACS Jackson Acquisition Co. Class A | Reduce -4.6% | 1.09% | −1.45 |
| XRPN Armada Acquisition Class A | Reduce -10.4% | 1.02% | −1.45 |
| CRAQ Cal Redwood Acquisit Class A | Reduce -7.1% | 0.96% | −1.35 |
| SZZL Sizzle Acquisition Corp. Class A | Reduce -11.0% | 0.88% | −1.33 |
| BLUW Blue Water Acquisition C-A | Reduce -5.0% | 0.97% | −1.33 |
| BACC Blue Acquisition Corp. Class A | Reduce -4.2% | 0.98% | −1.33 |
| CCCXU Churchill Capital Corp. X | Sold out | 0.00% | −0.91 |
| CHPG Championsgate Acquisitio-A | Reduce -17.2% | 0.49% | −0.86 |
| PELI Pelican Acquisition Corp. | Reduce -0.8% | 0.51% | −0.64 |
| DYNC Dynamix Corp. | Reduce -28.6% | 0.24% | −0.49 |
| GSRT GSR III Acquisition Corp. | Reduce -32.8% | 0.17% | −0.41 |
| MGNI Magnite Inc. | Reduce -20.0% | 0.18% | −0.38 |
| WTG Wintergreen Acquisition Corp. | Reduce -20.8% | 0.20% | −0.38 |
Portfolio Buys Q2 2025 → Q3 2025
| EVAC Eqv Ventures Acquisition C-A | New | 1.75% | +1.75 |
| MRLN Merlin Inc. | Add +628.0% | 1.94% | +1.35 |
| MBVIU M3-Brigade Acquisition Vi Co. | New | 1.19% | +1.19 |
| HCMA HCM III Acquisition Cor Class A | New | 1.19% | +1.19 |
| DMIIU Drugs Made in America Acquis | New | 1.17% | +1.17 |
| TMS Teamshares Inc. | Add +5614.6% | 1.20% | +1.15 |
| CCII Cohen Circle Acquisit II - A | New | 1.14% | +1.14 |
| OTGAU Otg Acquisition Corp. I | New | 1.13% | +1.13 |
| HDRN Hadron Energy Inc. | Add +3240.8% | 1.13% | +1.13 |
| HVMCU Highview Merger Corp. | New | 1.10% | +1.10 |
| NPAC New Providence Acquisition-A | Add +3773.1% | 1.16% | +1.09 |
| TLNCU Talon Capital Corp. | New | 1.09% | +1.09 |
| BLZRU Trailblazer Acquisition Corp. | New | 1.07% | +1.07 |
| FACT Fact II Acquisition Corp. | New | 1.06% | +1.06 |
| CEPF Cantor Equity Partners Class A | New | 1.05% | +1.05 |
| FAC Factorial Energy Inc. | New | 1.04% | +1.04 |
| EMISU Emmis Acquisition Corp. | New | 0.97% | +0.97 |
| KOYN CSLM Digital Asset Acqu - A | New | 0.94% | +0.94 |
| BCAR D. Boral Arc Acquisit Class A | New | 0.92% | +0.92 |
| AEXA American Exceptionalism Class A | New | 0.89% | +0.89 |
| GSRFU GSR IV Acquisition Corp. | New | 0.84% | +0.84 |
| ALF Centurion Acquisition Corp. | Add +2606.1% | 0.90% | +0.82 |
| NMP NMP Acquisition Corp. Class A | New | 0.76% | +0.76 |
| INFQ Infleqtion Inc. | New | 0.75% | +0.75 |
| SVACU Spring Valley Acquisition Co. | New | 0.75% | +0.75 |
| VNME Vendome Acquisition Corp. Class A | New | 0.74% | +0.74 |
| MKLYU McKinley Acquisition Corp. | New | 0.72% | +0.72 |
| LATAU Galata Acquisition Corp. II | New | 0.71% | +0.71 |
| ENHA Enhanced Group Inc. | New | 0.71% | +0.71 |
| PAII Pyrophyte Acquisition Corp. Class A | New | 0.66% | +0.66 |
| SPEG Silver Pegasus Acquisition-A | New | 0.65% | +0.65 |
| MCGA Yorkville Acquisition Corp. Class A | New | 0.65% | +0.65 |
| CHECU Chenghe Acquisition III Co. | New | 0.61% | +0.61 |
| GTERA Globa Terra Acquisition Co. Class A | New | 0.61% | +0.61 |
| SOCA Solarius Capital Acquis Class A | New | 0.61% | +0.61 |
| AAM Aa Mission Acquisition Cor-A | Add +341.4% | 1.11% | +0.55 |
| IPCX Inflection Point Acquisiti-A | New | 0.54% | +0.54 |
| GPAT GP-Act III Acquisition-A | Add +287.8% | 1.24% | +0.53 |
| FTW Eqv Ventures Acquisition C-A | Add +490.4% | 0.84% | +0.52 |
| DMAA Drugs Made in America Acquis | Add +316.7% | 1.11% | +0.52 |
| INAC Indigo Acquisition Corp. | New | 0.51% | +0.51 |
| MLAC Mountain Lake Acquisition-A | Add +99.3% | 0.41% | +0.41 |
| FIVN FIVE9 Inc. | New | 0.38% | +0.38 |
| BCSS.U Bain Capital GSS Investment | New | 0.37% | +0.37 |
| PCAP Procap Acquisition Corp. Class A | Add +357.3% | 0.72% | +0.35 |
| BSAA Best Spac I Acquisition-A | New | 0.35% | +0.35 |
| APACU Stonebridge Acquisition II C | New | 0.33% | +0.33 |
| BDCIU BTC Development Corp. | New | 0.32% | +0.32 |
| QUMSU Quantumsphere Acquisition Co. | New | 0.31% | +0.31 |
| TDOC Teladoc Health Inc. | Add +857.7% | 0.41% | +0.31 |
Notes & Other Activity Q2 2025 → Q3 2025
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | Sold out | 155,235,000 | $144.8Mbefore exit |
| ENPHASE ENERGY INC (ENPH 0 03/01/26) | NOTE 3/0 · principal | Add +1.8% | 142,750,000 | $139.0M |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | New | 119,027,000 | $118.1M |
| NEW MOUNTAIN FINANCE COR (NMFC 7.5 10/15/25) | NOTE 7.500%10/1 · principal | Add +70.1% | 114,047,000 | $114.0M |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | Add +22.2% | 115,750,000 | $108.1M |
| FIVERR INTERNATIONAL LTD (FVRR 0 11/01/25) | NOTE 11/0 · principal | Add +3.0% | 103,677,000 | $103.2M |
| NICE LTD (NICEIT 0 09/15/25) | NOTE 9/1 · principal | Sold out | 81,181,000 | $80.0Mbefore exit |
| RINGCENTRAL INC (RNG 0 03/15/26) | NOTE 3/1 · principal | Add +61.0% | 68,006,000 | $66.3M |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | New | 57,500,000 | $56.5M |
| BANDWIDTH INC (BAND 0.5 04/01/28) | NOTE 0.500% 4/0 · principal | Add +28.3% | 49,900,000 | $42.4M |
| WIX LTD (WIX 0 08/15/25) | NOTE 8/1 · principal | Sold out | 28,500,000 | $28.3Mbefore exit |
| AFFIRM HOLDINGS INC (AFRM 0 11/15/26) | NOTE 11/1 · principal | Sold out | 25,822,000 | $24.2Mbefore exit |
| ALARM.COM HLDGS INC (ALRM 0 01/15/26) | NOTE 1/1 · principal | Add +64.8% | 22,250,000 | $21.9M |
| GLADSTONE CAPITAL CORP (GLAD 5.875 10/01/30) | NOTE 5.875%10/0 · principal | New | 18,000,000 | $17.8M |
| AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) | NOTE 6.500% 7/0 · principal | Sold out | 17,000,000 | $17.0Mbefore exit |
| PACIRA BIOSCIENCES INC (PCRX 0.75 08/01/25) | NOTE 0.750% 8/0 · principal | Sold out | 16,688,000 | $16.5Mbefore exit |
| ARRAY TECHNOLOGIES INC (ARRY 1 12/01/28) | NOTE 1.000%12/0 · principal | Add +29.2% | 15,500,000 | $13.4M |
| FUBOTV INC (FUBO 3.25 02/15/26) | NOTE 3.250% 2/1 · principal | New | 11,737,000 | $11.6M |
| UPWORK INC (UPWK 0.25 08/15/26) | NOTE 0.250% 8/1 · principal | Reduce -28.7% | 11,123,000 | $10.8M |
| BLACKLINE INC (BL 0 03/15/26) | NOTE 3/1 · principal | Add +32.1% | 10,692,000 | $10.4M |
| ZSCALER INC. (ZS 0.125 07/01/25) | NOTE 0.125% 7/0 · principal | Sold out | 5,000,000 | $10.2Mbefore exit |
| VAIL RESORTS INC (MTN 0 01/01/26) | NOTE 1/0 · principal | New | 10,000,000 | $9.9M |
| OMNICELL INC (OMCL 0.25 09/15/25) | NOTE 0.250% 9/1 · principal | Sold out | 7,886,000 | $7.8Mbefore exit |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | Reduce -5.9% | 7,780,000 | $7.6M |
| SNOWFLAKE INC (SNOW 0 10/01/27) | NOTE 10/0 · principal | New | 5,000,000 | $7.6M |
| COINBASE GLOBAL INC (COIN 0.25 04/01/30) | NOTE 0.250% 4/0 · principal | Add +100.0% | 6,000,000 | $7.5M |
| FIVE9 INC (FIVN 1 03/15/29) | NOTE 1.000% 3/1 · principal | New | 7,500,000 | $6.6M |
| NOVOCURE LTD (NVCR 0 11/01/25) | NOTE 11/0 · principal | New | 5,480,000 | $5.4M |
| OKTA INC (OKTA 0.125 09/01/25) | NOTE 0.125% 9/0 · principal | Sold out | 5,019,000 | $5.0Mbefore exit |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | Sold out | 5,000,000 | $4.8Mbefore exit |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | New | 5,000,000 | $4.6M |
| VERINT SYSTEMS INC (VRNT 0.25 04/15/26) | NOTE 0.250% 4/1 · principal | Sold out | 3,801,000 | $3.6Mbefore exit |
| DMAAR Drugs Made in America Ac-RTS | RIGHT 12/09/2029 | New | 325,100 | $3.3M |
| TAVIR Tavia Acquisition Corp. | RIGHT 11/26/2029 | New | 181,900 | $1.9M |
| NMPAR NMP Acquisition Corp. | RIGHT 06/27/2030 | New | 75,000 | $745K |
| KCHVR Kochav Defense Acquisition-R | RIGHT 05/21/2030 | Reduce -85.7% | 71,429 | $716K |
| OYSER Oyster Enterprises II Acquis | RIGHT 05/22/2030 | Reduce -90.0% | 55,108 | $553K |
| TVAIR Thayer Ventures Acquisition | RIGHT 05/15/2030 | Reduce -89.9% | 53,688 | $539K |
| CRAQR Cal Redwood Acquisition Corp. | RIGHT 05/15/2030 | Reduce -90.0% | 50,339 | $503K |
| BACCR Blue Acquisition Corp.-RTS | RIGHT 06/11/2030 | Reduce -90.0% | 50,000 | $500K |
| DAYFORCE INC (DAY 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | Sold out | 500,000 | $481Kbefore exit |
| AXINR Axiom Intelligence Acquisiti | RIGHT 06/10/2030 | Reduce -89.1% | 40,880 | $407K |
| SDHIR Siddhi Acquisition Corp. | RIGHT 09/15/2029 | Reduce -82.6% | 37,730 | $383K |
| APADR A Paradise Acquisition Corp. | RIGHT 07/29/2025 | New | 37,500 | $372K |
| CHPGR Championsgate Acquisition Co. | RIGHT 05/14/2030 | New | 36,177 | $365K |
| SZZLR Sizzle Acquisition Corp. -RTS | RIGHT 04/02/2030 | Reduce -85.4% | 33,995 | $343K |
| SOULPOWER ACQUISITION CORP | RIGHT 99/99/9999 | Reduce -83.9% | 32,579 | $329K |
| SPEGR Silver Pegasus Acquisition C | RIGHT 06/26/2030 | New | 32,922 | $328K |
| JENA ACQUISITION CORP II-RTS | RIGHT 03/31/2030 | Reduce -89.4% | 27,239 | $276K |
| EGHAR Egh Acquisition Corp.-RTS | RIGHT 99/99/9999 | Reduce -90.0% | 26,562 | $267K |
Showing the first 50 of 82.
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 |