Sandia Investment Management LP
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Sandia Investment Management LP reported 80 stock positions worth $38.3 million. Its top holding was Haymaker Acquisition Corp. 4 at 9.3% of the portfolio, followed by Bold Eagle Acquisition Cor-A (BEAG, 4.9%) and Dynamix (DYNC, 3.4%). Compared with Q1 2025, it opened 42 new positions, sold out of 38, added to 8 and reduced 11. The biggest buy was Bold Eagle Acquisition Cor-A (BEAG, shares +486%) and the biggest sale an exit from Churchill Capital Corp. Ix (CCIXU).
- Most Recent 13F
- Q4 2025
- Location
- BOSTON, MA
- CIK
- 0001880562
- Portfolio Value
- $38.3M (Q2 2025)
- SEC Filing
- 0001880562-25-000008 ↗ filed Aug 14, 2025
Holdings Value
Holdings 80 stocks · $38.3M
| HAYMAKER ACQUISITION CORP 4 | 9.30% | 321,200 | $3.6M | Reduce -1.2% |
| BEAG Bold Eagle Acquisition Cor-A | 4.94% | 180,870 | $1.9M | Add +485.9% |
| DYNC Dynamix Corp. | 3.38% | 126,973 | $1.3M | New |
| FACT Fact II Acquisition Corp. | 3.36% | 125,100 | $1.3M | No change |
| TMS Teamshares Inc. filed as LIVE OAK ACQUISITION CORP V | 2.79% | 100,000 | $1.1M | No change |
| ALDF Aldel Financial II Inc. | 2.74% | 100,000 | $1.0M | No change |
| WAY Waystar Holding Corp. | 2.66% | 24,900 | $1.0M | Add +43.1% |
| LOAR Loar Holdings Inc. | 2.62% | 11,667 | $1.0M | New |
| SARO Standardaero Inc. | 2.48% | 30,000 | $950K | Add +20.0% |
| CHYM Chime Financial Inc. Class A | 2.48% | 27,500 | $949K | New |
| FTW Eqv Ventures Acquisition C-A | 2.41% | 87,861 | $923K | New |
| ETR Entergy Corp. | 2.17% | 10,000 | $831K | No change |
| BULL Webull Corp. | 2.01% | 64,497 | $771K | New |
| WLAC Willow Lane Acquisition Class A | 2.00% | 75,000 | $767K | No change |
| RGS Regis Corp. | 1.92% | 32,936 | $735K | No change |
| KGS Kodiak Gas Services Inc. | 1.79% | 20,000 | $685K | New |
| ETOR Etoro Group Ltd. Class A | 1.74% | 10,000 | $666K | New |
| HNGE Hinge Health Inc. Class A | 1.71% | 12,700 | $657K | New |
| AHL Aspen Insurance Holdings Class A | 1.64% | 20,000 | $629K | New |
| SAIL Sailpoint Inc. | 1.49% | 25,000 | $572K | Reduce -16.7% |
| BRO Brown & Brown Inc. | 1.45% | 5,000 | $554K | New |
| AMTM Amentum Holdings Inc. | 1.39% | 22,505 | $531K | Add +13.6% |
| MRUS Merus NV | 1.37% | 10,000 | $526K | New |
| VCIC Vine Hill Capital Class A | 1.37% | 50,500 | $525K | New |
| MACIU Melar Acquisition Corp. I | 1.37% | 50,000 | $525K | No change |
| DRDB Roman DBDR Acquisition Corp. | 1.35% | 50,100 | $517K | No change |
| KVYO Klaviyo Inc. Class A | 1.31% | 15,000 | $504K | New |
| CHAR Charlton Aria Acquisiti Class A | 1.28% | 47,600 | $489K | New |
| CCIX Churchill Capital Corp. Ix | 1.24% | 45,000 | $473K | New |
| SFD Smithfield Foods Inc. | 1.23% | 20,000 | $471K | No change |
| CTRI Centuri Holdings Inc. | 1.17% | 20,000 | $449K | Add +166.7% |
| NDAQ Nasdaq Inc. | 1.17% | 5,000 | $447K | New |
| SLDE Slide Insurance Holdings Inc. | 1.13% | 20,000 | $433K | New |
| NUVL Nuvalent Inc. Class A | 1.09% | 5,500 | $420K | No change |
| POLE Andretti Acquisition Corp. Class A | 1.08% | 40,000 | $415K | New |
| AS Amer Sports Inc. | 1.01% | 10,000 | $388K | Add +300.0% |
| OMDA Omada Health Inc. | 0.95% | 20,000 | $366K | New |
| SNDK Sandisk Corp. | 0.94% | 7,958 | $361K | New |
| CRBG Corebridge Financial Inc. | 0.93% | 10,000 | $355K | Reduce -20.0% |
| BRRWU Columbus Circle Capital Corp. | 0.90% | 30,000 | $344K | New |
| VLOS Velos Acquisition I Corp. filed as M3BRIGADE ACQUISITION V CORP | 0.87% | 29,549 | $334K | New |
| KDP Keurig Dr Pepper Inc. | 0.86% | 10,000 | $331K | No change |
| SNDA Sonida Senior Living Inc. | 0.82% | 12,612 | $315K | Reduce -15.9% |
| ASPC A Spac III Acquisition Class A | 0.80% | 30,000 | $308K | New |
| SRG Seritage Growth Prop- A | 0.75% | 93,887 | $289K | Add +21.9% |
| SRAD Sportradar Group AG-A | 0.73% | 10,000 | $281K | New |
| TBBB BBB Foods Inc. Class A | 0.72% | 10,000 | $278K | Reduce -33.3% |
| CAI Caris Life Sciences Inc. | 0.70% | 10,000 | $267K | New |
| VIK Viking Holdings Ltd. | 0.70% | 5,000 | $266K | Reduce -50.0% |
| CLASSOVER HLDGS INC | 0.69% | 90,000 | $265K | New |
| NHIC Newhold Investment Cor III-A | 0.66% | 25,000 | $254K | No change |
| KRMN Karman Holdings Inc. | 0.66% | 5,000 | $252K | Reduce -23.1% |
| SEG Seaport Entertainment Group | 0.65% | 13,311 | $248K | New |
| ITOS Iteos Therapeutics Inc. | 0.65% | 24,865 | $248K | New |
| CLAR Clarus Corp. | 0.62% | 68,943 | $239K | No change |
| JAKK Jakks Pacific Inc. | 0.60% | 11,011 | $229K | Add +6.4% |
| CHWY Chewy Inc. Class A | 0.56% | 5,000 | $213K | New |
| CCCXU Churchill Capital Corp. X | 0.54% | 20,000 | $206K | New |
| AXINU Axiom Intelligence Acquisiti | 0.53% | 20,000 | $202K | New |
| BACCU Blue Acquisition Corp. | 0.52% | 20,000 | $201K | New |
| MRX Marex UK Holdings Ltd. filed as MAREX GROUP PLC | 0.51% | 5,000 | $197K | Reduce -33.3% |
| OMCC Old Market Capital Corp. filed as OLD MKT CAP CORP | 0.51% | 35,842 | $197K | No change |
| CAEP Cantor Equity Partners III-A | 0.51% | 18,400 | $194K | New |
| TTAM Titan America SA | 0.49% | 15,000 | $187K | Reduce -14.3% |
| RVMD Revolution Medicines Inc. | 0.48% | 5,000 | $184K | No change |
| FLOC Flowco Holdings Inc. Class A | 0.46% | 10,000 | $178K | Reduce -42.9% |
| ETNB 89BIO Inc. | 0.45% | 17,500 | $172K | Reduce -30.0% |
| RDW Redwire Corp. | 0.43% | 10,000 | $163K | New |
| PACS Pacs Group Inc. | 0.42% | 12,500 | $162K | No change |
| VG Venture Global Inc. Class A | 0.41% | 10,000 | $156K | No change |
| LAKE Lakeland Industries Inc. | 0.39% | 10,850 | $148K | New |
| BTSG Brightspring Health Services | 0.31% | 5,000 | $118K | New |
| ASIC Ategrity Specialty Holdings | 0.30% | 5,300 | $114K | New |
| CID HOLDCO INC | 0.29% | 21,875 | $112K | New |
| FIGXU Figx Capital Acquisition Cor | 0.28% | 10,879 | $109K | New |
| SPWR Sunpower Inc. filed as COMPLETE SOLARIA INC | 0.24% | 49,484 | $91K | New |
| BBNX Beta Bionics Inc. | 0.23% | 6,000 | $87K | No change |
| ONL Orion Properties Inc. | 0.14% | 25,093 | $53K | No change |
| SVV Savers Value Village Inc. | 0.13% | 5,000 | $51K | New |
| VOYG Voyager Technologies Inc. Class A | 0.05% | 500 | $20K | New |
Other holdings (22): bonds, preferreds, convertibles and warrants · $644K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| ABLLW East Resources Acquis -CW27 | *W EXP 06/30/202 | 109,665 | $123K | No change |
| SVIRF Spring Valley Acquisit-Right | RIGHT 02/25/2026 | 579,498 | $81K | No change |
| HYAC.WS Haymaker Acquisition Corp.-28 | *W EXP 05/31/202 | 162,499 | $50K | No change |
| VAL.WS Valaris Ltd. -CW28 | *W EXP 04/29/202 | 12,296 | $47K | New |
| BEAGR Bold Eagle Acquisition Corp. | RIGHT 10/11/2029 | 150,000 | $47K | No change |
| VLOSW M3-Brigade Acquisition -30 | *W EXP 99/99/999 | 25,000 | $44K | New |
| GCTS.WS Concord Acq Class A -CW28 | *W EXP 03/01/202 | 427,627 | $41K | No change |
| TMSWW Live Oak Acquisition Co.-CW29 | *W EXP 99/99/999 | 49,500 | $35K | Reduce -1.0% |
| ALDFW Aldel Financial II Inc. - 29 | *W EXP 09/26/203 | 50,000 | $26K | New |
| DYNCW Dynamix Corp. - 29 | *W EXP 10/25/202 | 63,486 | $25K | No change |
| EQV VENTURES ACQUISITION | *W EXP 07/01/203 | 29,287 | $21K | New |
| COCHW Envoy Medical Inc.-CW27 | *W EXP 09/29/202 | 589,886 | $21K | No change |
| ANNAW Aleanna Inc. Class A - 29 | *W EXP 12/13/202 | 74,647 | $18K | No change |
| FACTW Fact II Acquisition Corp. -29 | *W EXP 11/26/203 | 62,550 | $17K | New |
| CCIXW Churchill Capital Corp. I-29 | *W EXP 03/31/203 | 10,000 | $10K | New |
| BDMDW Baird Medical Investment -28 | *W EXP 10/01/202 | 108,100 | $9K | No change |
| ABPWW Atlantic Coast Acq -CW23 | *W EXP 11/12/202 | 358,427 | $8K | No change |
| VCICW Vine Hill Capital Class A-2 | *W EXP 07/01/203 | 25,250 | $6K | New |
| NHICW Newhold Investment Corp. - 30 | *W EXP 01/30/203 | 12,500 | $6K | No change |
| SVIWF Spring Valley Acquisition-Aw | *W EXP 02/25/202 | 30,362 | $4K | Reduce -4.7% |
| POLEW Andretti Acquisition Corp.-29 | *W EXP 06/01/203 | 20,000 | $4K | No change |
| BAERW Wildfire New Pubco Inc.-27 | *W EXP 01/24/202 | 17,690 | $1K | No change |
Total filed on the 13F, all lines: $39.0M.
Portfolio Sells Q1 2025 → Q2 2025
| CCIXU Churchill Capital Corp. Ix | Sold out | 0.00% | −3.20 |
| FTW.U Eqv Ventures Acquisition Cor | Sold out | 0.00% | −2.65 |
| VLOSU M3-Brigade Acquisition V Cor | Sold out | 0.00% | −2.29 |
| AACT.U Ares Acquisition Corp. II | Sold out | 0.00% | −1.76 |
| AEP American Electric Power | Sold out | 0.00% | −1.61 |
| HONDU HCM II Acquisition Corp. | Sold out | 0.00% | −1.57 |
| VCICU Vine Hill Cap Invest-Unit | Sold out | 0.00% | −1.53 |
| CHARU Charlton Aria Acquisition Co. | Sold out | 0.00% | −1.52 |
| AB Alliancebernstein Holding LP | Sold out | 0.00% | −1.51 |
| DMYY DMY Squared Technology GR-A | Sold out | 0.00% | −1.32 |
| HLNE Hamilton Lane Inc. Class A | Sold out | 0.00% | −1.31 |
| HAYMAKER ACQUISITION CORP 4 | Reduce -1.2% | 9.30% | −1.22 |
| VNOM Viper Energy Inc. | Sold out | 0.00% | −1.20 |
| ASPCU A Spac III Acquisition Corp. | Sold out | 0.00% | −0.90 |
| KVUE Kenvue Inc. | Sold out | 0.00% | −0.88 |
| WMB Williams Cos Inc. | Sold out | 0.00% | −0.88 |
| FLOC Flowco Holdings Inc. Class A | Reduce -42.9% | 0.46% | −0.86 |
| SIRI Sirius XM Holdings Inc. | Sold out | 0.00% | −0.84 |
| CWAN Clearwater Analytics HDS-A | Sold out | 0.00% | −0.79 |
| TARS Tarsus Pharmaceuticals Inc. | Sold out | 0.00% | −0.76 |
| OKE Oneok Inc. | Sold out | 0.00% | −0.73 |
| AJG Arthur J Gallagher & Co. | Sold out | 0.00% | −0.68 |
| BOW Bowhead Specialty Holdings I | Sold out | 0.00% | −0.66 |
| VLY Valley National Bancorp | Sold out | 0.00% | −0.65 |
| INGM Ingram Micro Holding Corp. | Sold out | 0.00% | −0.65 |
| KSPI JSC Kaspi.kz ADR | Sold out | 0.00% | −0.59 |
| AESI Atlas Energy Solutions Inc. | Sold out | 0.00% | −0.53 |
| KLC Kindercare Learning Cos Inc. | Sold out | 0.00% | −0.51 |
| VVX V2X Inc. | Sold out | 0.00% | −0.51 |
| SN Sharkninja Inc. | Sold out | 0.00% | −0.49 |
| CON Concentra Group Holdings Par | Sold out | 0.00% | −0.48 |
| VIK Viking Holdings Ltd. | Reduce -50.0% | 0.70% | −0.48 |
| SSUP Superior Industries Intl | Sold out | 0.00% | −0.47 |
| TBBB BBB Foods Inc. Class A | Reduce -33.3% | 0.72% | −0.45 |
| ALKT Alkami Technology Inc. | Sold out | 0.00% | −0.42 |
| ULS Ul Solutions Inc. Class A | Sold out | 0.00% | −0.42 |
| EQT Eqt Corp. | Sold out | 0.00% | −0.39 |
| MRX Marex UK Holdings Ltd. | Reduce -33.3% | 0.51% | −0.27 |
| CRBG Corebridge Financial Inc. | Reduce -20.0% | 0.93% | −0.24 |
| GDYN Grid Dynamics Holdings Inc. | Sold out | 0.00% | −0.23 |
| IONS Ionis Pharmaceuticals Inc. | Sold out | 0.00% | −0.22 |
| AUNA Auna SA Class A | Sold out | 0.00% | −0.21 |
| TTAM Titan America SA | Reduce -14.3% | 0.49% | −0.21 |
| SNDA Sonida Senior Living Inc. | Reduce -15.9% | 0.82% | −0.21 |
| SAIL Sailpoint Inc. | Reduce -16.7% | 1.49% | −0.17 |
| ALIT Alight Inc. Class A | Sold out | 0.00% | −0.13 |
| ETNB 89BIO Inc. | Reduce -30.0% | 0.45% | −0.09 |
| PR Permian Resources Corp. Class A | Sold out | 0.00% | −0.02 |
| KRMN Karman Holdings Inc. | Reduce -23.1% | 0.66% | +0.02 |
Portfolio Buys Q1 2025 → Q2 2025
| BEAG Bold Eagle Acquisition Cor-A | Add +485.9% | 4.94% | +4.02 |
| DYNC Dynamix Corp. | New | 3.38% | +3.38 |
| LOAR Loar Holdings Inc. | New | 2.62% | +2.62 |
| CHYM Chime Financial Inc. Class A | New | 2.48% | +2.48 |
| FTW Eqv Ventures Acquisition C-A | New | 2.41% | +2.41 |
| BULL Webull Corp. | New | 2.01% | +2.01 |
| KGS Kodiak Gas Services Inc. | New | 1.79% | +1.79 |
| ETOR Etoro Group Ltd. Class A | New | 1.74% | +1.74 |
| HNGE Hinge Health Inc. Class A | New | 1.71% | +1.71 |
| AHL Aspen Insurance Holdings Class A | New | 1.64% | +1.64 |
| BRO Brown & Brown Inc. | New | 1.45% | +1.45 |
| MRUS Merus NV | New | 1.37% | +1.37 |
| VCIC Vine Hill Capital Class A | New | 1.37% | +1.37 |
| KVYO Klaviyo Inc. Class A | New | 1.31% | +1.31 |
| CHAR Charlton Aria Acquisiti Class A | New | 1.28% | +1.28 |
| CCIX Churchill Capital Corp. Ix | New | 1.24% | +1.24 |
| NDAQ Nasdaq Inc. | New | 1.17% | +1.17 |
| SLDE Slide Insurance Holdings Inc. | New | 1.13% | +1.13 |
| POLE Andretti Acquisition Corp. Class A | New | 1.08% | +1.08 |
| OMDA Omada Health Inc. | New | 0.95% | +0.95 |
| SNDK Sandisk Corp. | New | 0.94% | +0.94 |
| BRRWU Columbus Circle Capital Corp. | New | 0.90% | +0.90 |
| VLOS Velos Acquisition I Corp. | New | 0.87% | +0.87 |
| AS Amer Sports Inc. | Add +300.0% | 1.01% | +0.81 |
| CTRI Centuri Holdings Inc. | Add +166.7% | 1.17% | +0.81 |
| ASPC A Spac III Acquisition Class A | New | 0.80% | +0.80 |
| WAY Waystar Holding Corp. | Add +43.1% | 2.66% | +0.74 |
| SRAD Sportradar Group AG-A | New | 0.73% | +0.73 |
| CAI Caris Life Sciences Inc. | New | 0.70% | +0.70 |
| CLASSOVER HLDGS INC | New | 0.69% | +0.69 |
| SEG Seaport Entertainment Group | New | 0.65% | +0.65 |
| ITOS Iteos Therapeutics Inc. | New | 0.65% | +0.65 |
| CHWY Chewy Inc. Class A | New | 0.56% | +0.56 |
| CCCXU Churchill Capital Corp. X | New | 0.54% | +0.54 |
| AXINU Axiom Intelligence Acquisiti | New | 0.53% | +0.53 |
| BACCU Blue Acquisition Corp. | New | 0.52% | +0.52 |
| SARO Standardaero Inc. | Add +20.0% | 2.48% | +0.52 |
| CAEP Cantor Equity Partners III-A | New | 0.51% | +0.51 |
| RDW Redwire Corp. | New | 0.43% | +0.43 |
| LAKE Lakeland Industries Inc. | New | 0.39% | +0.39 |
| AMTM Amentum Holdings Inc. | Add +13.6% | 1.39% | +0.32 |
| BTSG Brightspring Health Services | New | 0.31% | +0.31 |
| ASIC Ategrity Specialty Holdings | New | 0.30% | +0.30 |
| CID HOLDCO INC | New | 0.29% | +0.29 |
| FIGXU Figx Capital Acquisition Cor | New | 0.28% | +0.28 |
| SPWR Sunpower Inc. | New | 0.24% | +0.24 |
| SVV Savers Value Village Inc. | New | 0.13% | +0.13 |
| VOYG Voyager Technologies Inc. Class A | New | 0.05% | +0.05 |
| SRG Seritage Growth Prop- A | Add +21.9% | 0.75% | +0.02 |
| JAKK Jakks Pacific Inc. | Add +6.4% | 0.60% | −0.15 |
Notes & Other Activity Q1 2025 → Q2 2025
| VAL.WS Valaris Ltd. -CW28 | *W EXP 04/29/202 | New | 12,296 | $47K |
| VLOSW M3-Brigade Acquisition -30 | *W EXP 99/99/999 | New | 25,000 | $44K |
| TMSWW Live Oak Acquisition Co.-CW29 | *W EXP 99/99/999 | Reduce -1.0% | 49,500 | $35K |
| ALDFW Aldel Financial II Inc. - 29 | *W EXP 09/26/203 | New | 50,000 | $26K |
| EQV VENTURES ACQUISITION | *W EXP 07/01/203 | New | 29,287 | $21K |
| FACTW Fact II Acquisition Corp. -29 | *W EXP 11/26/203 | New | 62,550 | $17K |
| CCIXW Churchill Capital Corp. I-29 | *W EXP 03/31/203 | New | 10,000 | $10K |
| VCICW Vine Hill Capital Class A-2 | *W EXP 07/01/203 | New | 25,250 | $6K |
| ZAPWF Zapp Electric Vehicles -28 | *W EXP 99/99/999 | Sold out | 617,496 | $5Kbefore exit |
| SVIWF Spring Valley Acquisition-Aw | *W EXP 02/25/202 | Reduce -4.7% | 30,362 | $4K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q4 2025 | 111 | $39.8M | HAYMAKER ACQUISITION CORP 4, BEAG, RGS, RGR, LGN |
| Q3 2025 | 87 | $33.0M | HAYMAKER ACQUISITION CORP 4, BEAG, FACT, TMS, RGS |
| Q2 2025 | 80 | $38.3M | HAYMAKER ACQUISITION CORP 4, BEAG, DYNC, FACT, TMS |
| Q1 2025 | 79 | $33.9M | HAYMAKER ACQUISITION CORP 4, BEAGU, DYNCU, FACTU, CCIXU |
| Q4 2024 | 102 | $52.5M | LVROF, DMYY, HAYMAKER ACQUISITION CORP 4, BEAGU, AJG |
| Q3 2024 | 87 | $61.6M | LVROF, GHIXU, HAYMAKER ACQUISITION CORP 4, DMYY, SEDA |
| Q2 2024 | 89 | $79.4M | LVROF, SEDA, GHIXU, SKGR, HAYMAKER ACQUISITION CORP 4 |
| Q1 2024 | 99 | $101.5M | LVROF, SEDA, SCRM, GHIXU, CNDA |