Shaolin Capital Management LLC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Shaolin Capital Management LLC reported 140 stock positions worth $527.8 million. Its top holding was Iren (IREN) at 3.4% of the portfolio, followed by Wolfspeed (WOLF, 3.2%) and Bitdeer Technologies Group-A (BTDR, 2.7%). Compared with Q2 2025, it opened 50 new positions, sold out of 14, added to 36 and reduced 36. The biggest buy was a new position in Iren (IREN) and the biggest sale Nextera Energy (NEE, shares −85%).

Most Recent 13F
Q2 2026
Location
Miami, FL
CIK
0001766806
Portfolio Value
$527.8M (Q3 2025)
SEC Filing
0001172661-25-005092 ↗ filed Nov 14, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $245.7M Q1 2024 Q2 2024: $261.0M Q2 2024 Q3 2024: $235.7M Q3 2024 Q4 2024: $356.0M Q4 2024 Q1 2025: $285.1M Q1 2025 Q2 2025: $378.1M Q2 2025 Q3 2025: $527.8M $527.8M Q3 2025 Q4 2025: $761.2M Q4 2025 Q1 2026: $899.9M Q1 2026 Q2 2026: $877.1M Q2 2026

Holdings 140 stocks · $527.8M
IREN Iren Ltd. filed as IREN LIMITED 3.44% 386,697 $18.1M New
WOLF Wolfspeed Inc. 3.21% 591,613 $16.9M New
BTDR Bitdeer Technologies Group-A 2.67% 823,501 $14.1M Add +26.8%
MCHP Microchip Technology Inc. 2.30% 189,261 $12.2M Reduce -11.4%
OTGAU Otg Acquisition Corp. I 2.20% 1,150,000 $11.6M New
LCID Lucid Group Inc. 2.19% 486,472 $11.6M New
NEE Nextera Energy Inc. 2.11% 147,274 $11.1M Reduce -84.6%
GSRFU GSR IV Acquisition Corp. 1.73% 900,000 $9.1M New
HVMCU Highview Merger Corp. 1.61% 840,000 $8.5M New
KCHV Kochav Defense Acquisition-A 1.52% 800,000 $8.0M Add +33.3%
DMIIU Drugs Made in America Acquis 1.51% 800,000 $8.0M New
BCAR D. Boral Arc Acquisit Class A 1.50% 799,000 $7.9M New
LITE Lumentum Holdings Inc. 1.45% 47,000 $7.6M New
SVACU Spring Valley Acquisition Co. 1.36% 700,000 $7.2M New
PACH Pioneer Acquisition I Class A 1.32% 700,000 $7.0M Add +7.7%
BRR Columbus Circle Capital Co. Class A 1.31% 682,005 $6.9M Add +148.0%
MBVIU M3-Brigade Acquisition Vi Co. 1.25% 650,000 $6.6M New
NMP NMP Acquisition Corp. Class A 1.22% 650,000 $6.5M New
SOCA Solarius Capital Acquis Class A 1.14% 604,600 $6.0M New
EVAC Eqv Ventures Acquisition C-A 1.13% 600,000 $6.0M New
VNME Vendome Acquisition Corp. Class A 1.11% 590,907 $5.9M New
MKLYU McKinley Acquisition Corp. 1.04% 550,000 $5.5M New
BLUW Blue Water Acquisition C-A filed as BLUE WTR ACQUISITION CORP. I 1.03% 547,806 $5.5M Reduce -39.6%
GTERA Globa Terra Acquisition Co. Class A 1.03% 545,400 $5.4M New
DDOG Datadog Inc. Class A 1.02% 37,750 $5.4M Add +19.1%
FAC Factorial Energy Inc. filed as CARTESIAN GROWTH CORP III 0.95% 500,000 $5.0M Reduce -37.5%
BLZRU Trailblazer Acquisition Corp. 0.95% 488,524 $5.0M New
BOX Box Inc. Class A 0.94% 154,326 $5.0M Add +117.6%
PAII Pyrophyte Acquisition Corp. Class A 0.94% 500,000 $5.0M New
LWAC Lightwave Acquisition Corp. Class A 0.94% 500,000 $5.0M Add +25.0%
GTEN Gores Holdings X Inc. Class A 0.87% 450,000 $4.6M Reduce -53.8%
COPL Copley Acquisition Corp. Class A 0.86% 450,000 $4.5M Reduce -25.0%
BDCIU BTC Development Corp. 0.86% 449,480 $4.5M New
LATAU Galata Acquisition Corp. II 0.85% 450,000 $4.5M New
INAC Indigo Acquisition Corp. 0.85% 450,000 $4.5M New
SPEG Silver Pegasus Acquisition-A 0.85% 450,000 $4.5M New
AXIN Axiom Intelligence Class A 0.85% 450,000 $4.5M No change
SZZL Sizzle Acquisition Corp. Class A 0.83% 434,972 $4.4M Reduce -20.9%
ANSC Agriculture & Natural Soluti 0.83% 400,000 $4.4M Reduce -0.0%
FIGX Figx Capital Acquisition C-A 0.82% 434,900 $4.3M Add +213.4%
BCSS.U Bain Capital GSS Investment 0.82% 429,842 $4.3M New
NPAC New Providence Acquisition-A 0.82% 425,000 $4.3M Add +6.3%
LPAA Launch One Acquisition Corp. 0.80% 400,000 $4.2M Add +14.3%
SDHI Siddhi Acquisition Corp. Class A 0.79% 411,268 $4.2M Reduce -17.8%
PCAP Procap Acquisition Corp. Class A 0.78% 400,000 $4.1M Add +117.5%
KFII K&F Growth Acquisition Cor-A 0.78% 402,141 $4.1M Add +0.5%
JENA Jena Acquisition Corp. II - A 0.77% 400,000 $4.1M Reduce -50.0%
WENN Wen Acquisition Corp. Class A 0.77% 400,000 $4.0M Add +151.8%
KOYNU CSLM Digital Asset Acquisiti 0.77% 400,000 $4.0M New
SOUL Soulpower Acquisition Co. Class A 0.76% 400,000 $4.0M No change
ORIQ Origin Investment Corp. I 0.76% 400,000 $4.0M New
CCII Cohen Circle Acquisit II - A 0.76% 395,153 $4.0M New
EGHA Egh Acquisition Co. Class A 0.76% 400,000 $4.0M Reduce -20.0%
CHECU Chenghe Acquisition III Co. 0.76% 400,000 $4.0M New
AEXA American Exceptionalism Class A 0.72% 350,000 $3.8M New
CVLT Commvault Systems Inc. 0.72% 20,100 $3.8M New
AACB Artius II Acquisition Inc. Class A 0.72% 371,756 $3.8M Add +147.8%
TVAI Thayer Ventures Acquis Class A 0.71% 375,000 $3.8M Reduce -16.7%
MTSI Macom Technology Solutions H 0.71% 30,000 $3.7M Add +13.2%
APACU Stonebridge Acquisition II C 0.70% 370,000 $3.7M New
OACC Oaktree Acquisition Corp. I-A 0.70% 350,866 $3.7M Add +80.2%
HAYMAKER ACQUISITION CORP 4 0.70% 325,000 $3.7M Add +160.0%
CCIX Churchill Capital Corp. Ix 0.69% 350,000 $3.7M Add +75.0%
CHPG Championsgate Acquisitio-A 0.69% 360,021 $3.6M Add +38.5%
DRDB Roman DBDR Acquisition Corp. 0.68% 350,000 $3.6M Add +74.7%
GSHR Gesher Acquisition Corp. II-A 0.67% 350,000 $3.6M No change
WTG Wintergreen Acquisition Corp. 0.67% 352,753 $3.5M Add +135.1%
LCCC Lakeshore Acquisition III Co. 0.67% 350,100 $3.5M Reduce -36.4%
PMTR Perimeter Acquis Corp. I Class A 0.66% 342,829 $3.5M Reduce -45.3%
BACC Blue Acquisition Corp. Class A 0.61% 320,000 $3.2M Reduce -36.0%
VACH Voyager Acquisition Corp. 0.60% 300,000 $3.1M No change
FACT Fact II Acquisition Corp. 0.59% 303,750 $3.1M Add +192.8%
XRPN Armada Acquisition Class A 0.59% 300,000 $3.1M Reduce -45.5%
TMS Teamshares Inc. filed as LIVE OAK ACQUISITION CORP V 0.58% 300,000 $3.1M No change
CEPF Cantor Equity Partners Class A 0.58% 300,000 $3.1M New
MRLN Merlin Inc. filed as BLEICHROEDER ACQUISITION COR 0.58% 292,170 $3.0M New
TACH Titan Acquisition Corp. Class A 0.58% 300,000 $3.0M No change
CCAQ Collective Acquisition Corp. filed as DUNE ACQUISITION CORP II 0.57% 300,000 $3.0M Add +50.0%
VLOS Velos Acquisition I Corp. filed as M3BRIGADE ACQUISITION V CORP 0.57% 286,902 $3.0M Add +218.8%
IPCX Inflection Point Acquisiti-A 0.57% 300,000 $3.0M Reduce -23.0%
UYSC Uy Scuti Acquisition Corp. 0.54% 279,600 $2.8M No change
PELI Pelican Acquisition Corp. 0.53% 275,900 $2.8M Add +0.3%
CRAQ Cal Redwood Acquisit Class A 0.52% 275,000 $2.8M Reduce -21.4%
BEAG Bold Eagle Acquisition Cor-A 0.49% 250,000 $2.6M Reduce -9.1%
FTW Eqv Ventures Acquisition C-A 0.49% 250,400 $2.6M Add +0.2%
SSEAU Starry Sea Acquisition Corp. 0.48% 250,000 $2.5M New
HCMA HCM III Acquisition Cor Class A 0.48% 250,000 $2.5M New
OYSE Oyster Enterprises II Acq-A 0.47% 249,654 $2.5M Reduce -16.8%
OBA Oxley Bridge Acquisitio Class A 0.47% 250,000 $2.5M Reduce -43.2%
TLNCU Talon Capital Corp. 0.43% 228,129 $2.3M New
RAAQ Real Asset Acquisiti Class A 0.43% 225,003 $2.3M Reduce -30.8%
DYNC Dynamix Corp. 0.42% 215,000 $2.2M Add +115.0%
SIMA Sim Acquisition Corp. I-A 0.40% 201,350 $2.1M Add +101.3%
FRNM Freenome Inc. filed as PERCEPTIVE CAP SOLUTIONS COR 0.40% 200,000 $2.1M No change
TACO Berto Acquisition Corp. 0.39% 200,000 $2.1M Add +60.0%
TDAC Translational Development Ac 0.39% 200,946 $2.1M No change
SBXDF Silverbox Corp. IV-A 0.39% 196,925 $2.1M Add +103.2%
CHAC Crane Harbor Acqu Corp. Class A 0.39% 202,533 $2.1M Add +1.3%
RAC Rithm Acquisition Corp. Class A 0.39% 200,000 $2.0M Reduce -33.3%
ATII Archimedes Tech Spac Partner 0.39% 200,000 $2.0M No change

Show all 140 holdings

Options reported separately and not counted above: SPY puts ($83.3M), LCID puts ($39.5M), BTU calls ($19.4M), NEE calls ($18.9M), PCT puts ($14.8M), HPE puts ($12.3M), FOUR puts ($11.6M), PAAS puts ($9.7M), MCHP calls ($4.8M), DDOG calls ($3.6M), PCT calls ($3.3M), GME calls ($2.0M).

Other holdings (176): bonds, preferreds, convertibles and warrants · $1.6B (not counted above)
SecurityClassShares / PrincipalValueChange
APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) SER A MAND CNV 2,850,000$201.0MAdd +32.6%
HP ENTERPRISE CO (HPE 7.625 09/01/27) 7.625 MAND CONV 2,554,385$174.3MAdd +18.0%
DUKE ENERGY CORP (DUK 4.125 04/15/26) NOTE 4.125% 4/1 · principal 155,500,000$170.2MReduce -27.7%
CNX RESOURCES CORP (CNX 2.25 05/01/26) NOTE 2.250% 5/0 · principal 63,500,000$159.5MAdd +28.3%
BOEING CO/THE (BA 6 10/15/27) DEP CONV PFD A 1,454,795$102.5MAdd +26.7%
FIRSTENERGY CORP (FE 4 05/01/26) NOTE 4.000% 5/0 · principal 92,562,000$97.9MAdd +517.1%
DROPBOX INC (DBX 0 03/01/28) NOTE 3/0 · principal 75,000,000$77.6MAdd +11.1%
THE REALREAL INC (REAL 4 02/15/31) DEBT 4.000% 2/1 · principal 48,250,000$62.3MAdd +28.7%
PEABODY ENERGY CORP (BTU 3.25 03/01/28) NOTE 3.250% 3/0 · principal 41,250,000$62.3MReduce -13.2%
UBER TECHNOLOGIES INC (UBER 0 12/15/25) NOTE 12/1 · principal 44,500,000$54.3MNew
TXNM ENERGY INC (TXNM 5.75 06/01/54) NOTE 5.750% 6/0 · principal 38,100,000$50.5MReduce -4.8%
SPOTIFY USA INC (SPOT 0 03/15/26) NOTE 3/1 · principal 32,500,000$44.4MNew
PENNYMAC CORP (PMT 5.5 03/15/26) NOTE 5.500% 3/1 · principal 44,000,000$44.0MReduce -12.0%
DROPBOX INC (DBX 0 03/01/26) NOTE 3/0 · principal 35,000,000$34.6MNew
PURECYCLE TECHNOLOGIES (PCT 7.25 08/15/30) NOTE 7.250% 8/1 · principal 26,600,000$32.3MAdd +20.9%
DYNAVAX TECHNOLOGIES (DVAX 2.5 05/15/26) NOTE 2.500% 5/1 · principal 29,000,000$31.9MAdd +104.5%
NEXTERA ENERGY INC (NEE 7.299 06/01/27) UNIT 06/01/2027 535,000$26.8MNew
FORD MOTOR COMPANY (F 0 03/15/26) NOTE 3/1 · principal 25,000,000$25.3MNew
Q2 HOLDINGS INC (QTWO 0.125 11/15/25) NOTE 0.125%11/1 · principal 23,175,000$23.0MNew
GOSSAMER BIO INC (GOSS 5 06/01/27) NOTE 5.000% 6/0 · principal 22,250,000$15.9MReduce -33.6%
PINNACLE WEST CAPITAL (PNW 4.75 06/15/27) NOTE 4.750% 6/1 · principal 12,500,000$13.6MReduce -78.3%
SHOPIFY INC (SHOPCN 0.125 11/01/25) NOTE 0.125%11/0 · principal 11,600,000$12.2MNew
PENN ENTERTAINMENT INC (PENN 2.75 05/15/26) NOTE 2.750% 5/1 · principal 7,000,000$7.3MNew
MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28) DEP SHS REPSTG 105,753$6.3MNew
ZYNGA INC (ZNGA 0 12/15/26) NOTE 12/1 · principal 5,000,000$5.4MNo change
WORKIVA INC (WK 1.125 08/15/26) NOTE 1.125% 8/1 · principal 4,500,000$5.3MNo change
KIMCO REALTY CORP (KIM 7.25 PERP N) DP CV CL N 7.25% 75,991$4.6MReduce -99.7%
BEYOND MEAT INC (BYND 0 03/15/27) NOTE 3/1 · principal 4,500,000$902KNew
WLACW Willow Lane Acquisition - 29 *W EXP 10/31/203 285,000$798KReduce -5.0%
VCICW Vine Hill Capital Class A-2 *W EXP 07/01/203 400,000$640KReduce -11.4%
INFQ.WS Churchill Capital Corp. X *W EXP 05/14/203 175,000$621KAdd +64.7%
VLOSW M3-Brigade Acquisition -30 *W EXP 99/99/999 450,000$549KNo change
XRPNW Armada Acquisition Corp - A *W EXP 05/21/203 500,000$475KReduce -4.4%
DYNCW Dynamix Corp. - 29 *W EXP 10/25/202 225,000$475KNo change
BACQR Inflection Point Acquisition RIGHT 11/04/2026 625,553$425KAdd +25.1%
KYIVW Kyivstar Group Ltd. -30 *W EXP 08/14/203 100,000$406KNew
GSRTR GSR III Acquisition Corp. RIGHT 99/99/9999 43,507$369KReduce -78.8%
IPCXR Inflection Point Acquisition RIGHT 04/25/2030 834,377$367KAdd +13.1%
BRRWW Columbus Circle Capital -30 *W EXP 05/16/203 300,000$360KAdd +60.0%
TVACW Texas Ventures Acq -31 *W EXP 04/23/203 325,000$358KReduce -35.0%
SVIWF Spring Valley Acquisition-Aw *W EXP 02/25/202 255,000$332KReduce -53.6%
KDKRW Ares Acquisition Corp. II-28 *W EXP 09/25/203 300,000$320KNew
USA RARE EARTH INC *W EXP 03/13/203 40,000$289KReduce -60.0%
IPEXR Inflection Point Acquisition RIGHT 99/99/9999 450,000$270KAdd +28.6%
DRDBW Roman DBDR Acquisition -30 *W EXP 10/31/203 500,000$257KReduce -7.1%
HVIIR Hennessy Capital Investment RIGHT 01/17/2030 950,000$257KNo change
FGMCR FG Merger II Corp. RIGHT 02/11/2030 599,468$252KReduce -0.1%
TACOW Berto Acquisition Corp. - 30 *W EXP 05/01/203 350,000$235KAdd +16.7%
TMSWW Live Oak Acquisition Co.-CW29 *W EXP 99/99/999 400,000$217KNo change
ATIIW Archimedes Tech-30 *W EXP 10/15/202 550,000$215KReduce -5.9%
GTENW Gores Holdings X Inc.-31 *W EXP 05/02/203 272,150$207KAdd +1.7%
RAC.WS Rithm Acquisition Corp. - 30 *W EXP 99/99/999 309,998$205KNo change
LEGT.WS Legato Merger Corp. III-29 *W EXP 05/08/203 549,200$204KReduce -0.1%
TDACW Translational Dev -A -CW26 *W EXP 12/18/202 700,000$203KNo change
ALDFW Aldel Financial II Inc. - 29 *W EXP 09/26/203 361,154$195KNo change
SPKWF Spark I Acquisition Corp.-28 *W EXP 10/01/203 325,000$195KReduce -12.2%
CCIXW Churchill Capital Corp. I-29 *W EXP 03/31/203 249,600$195KReduce -9.2%
PMTRW Perimeter Acquis Corp. I -30 *W EXP 05/13/203 317,217$190KAdd +1.5%
JACKSON ACQUISITION CO II RIGHT 99/99/9999 700,000$189KNo change
AACBR Artius II Acquisition Inc. RIGHT 11/27/2029 750,000$180KReduce -11.8%
KFIIR K&F Growth Acquisition Corp. RIGHT 08/29/2031 1,200,000$180KNo change
FACWW Cartesian Growth Corp. -30 *W EXP 05/02/203 693,600$173KAdd +5.7%
ANSCW Agriculture & Natural Solu-W *W EXP 10/01/202 600,000$161KReduce -14.3%
NMPAR NMP Acquisition Corp. RIGHT 06/27/2030 750,000$158KNew
JENA ACQUISITION CORP II-RTS RIGHT 03/31/2030 785,100$157KReduce -1.9%
FERAR Fifth Era Acquisition Corp. I RIGHT 02/21/2030 575,000$152KReduce -11.5%
BEAGR Bold Eagle Acquisition Corp. RIGHT 10/11/2029 550,000$149KReduce -8.3%
PLMKW Plum Acquisition Corp. IV-30 *W EXP 08/19/202 550,000$149KReduce -15.4%
EGHAR Egh Acquisition Corp.-RTS RIGHT 99/99/9999 700,000$147KAdd +40.0%
NHICW Newhold Investment Corp. - 30 *W EXP 01/30/203 400,000$144KAdd +14.3%
QSEAR Quartzsea Acquisition Corp. RIGHT 02/18/2030 500,000$144KNo change
EQV VENTURES ACQUISITION *W EXP 07/01/203 285,200$143KReduce -4.9%
HYAC.WS Haymaker Acquisition Corp.-28 *W EXP 05/31/202 352,023$139KAdd +0.6%
FLDDW Fold Holdings Inc. -23 *W EXP 02/14/203 275,929$138KReduce -24.3%
FACTW Fact II Acquisition Corp. -29 *W EXP 11/26/203 491,192$138KReduce -1.8%
PAII.WS Pyrophyte Acquisition Corp. I *W EXP 07/30/203 387,500$136KNew
TAVIR Tavia Acquisition Corp. RIGHT 11/26/2029 600,000$132KReduce -20.1%
SVCCW Stellar V Capital Corp.-Class-29 *W EXP 10/15/202 375,298$131KNo change
MCGAW Yorkville Acquisition - 30 *W EXP 06/06/203 108,332$130KAdd +225.0%
LPBBW Launch Two Acquisition -29 *W EXP 10/09/202 343,858$127KAdd +6.3%
RAAQW REAL ASSET AQC Corp -30 *W EXP 04/24/203 278,865$125KAdd +5.2%
DMAAR Drugs Made in America Ac-RTS RIGHT 12/09/2029 575,000$125KNew
PACHW Pioneer Acquisition I Corp. *W EXP 06/16/203 566,223$125KAdd +74.2%
HCMAW HCM III Acquisition Corp. -30 *W EXP 07/23/203 173,330$123KNew
ALFUW Centurion Acquisition - 29 *W EXP 05/31/203 351,129$119KAdd +0.3%
GPATW GP-Act III Acq Class A -CW27 *W EXP 05/13/202 450,057$117KAdd +0.0%
KCHVR Kochav Defense Acquisition-R RIGHT 05/21/2030 515,485$113KReduce -14.1%
LCCCR Lakeshore Acquisition III Co. RIGHT 08/01/2026 550,100$112KNo change
AXINR Axiom Intelligence Acquisiti RIGHT 06/10/2030 700,000$112KAdd +55.6%
BCARW D Boral Arc Acquisition - 30 *W EXP 07/23/203 499,499$110KNew
CHACR Crane Harbor Acquisition-RTS RIGHT 04/17/2030 350,000$109KReduce -22.2%
SDHIR Siddhi Acquisition Corp. RIGHT 09/15/2029 500,000$105KNo change
FIGXW Figx Capital Acquisition Cor *W EXP 06/17/203 425,309$102KAdd +513.0%
SPEGR Silver Pegasus Acquisition C RIGHT 06/26/2030 400,000$100KNew
MLACR Mountain Lake Acquisition Co. RIGHT 11/15/2028 650,000$98KNo change
LPAAW Launch One Acquisition - 29 *W EXP 06/01/203 435,852$96KReduce -3.1%
EVAC.WS Eqv Ventures Acquisition Cor *W EXP 06/30/203 398,553$96KNew
CCIIW Cohen Circle Acq II -30 *W EXP 07/01/203 100,000$95KNew
TVAIR Thayer Ventures Acquisition RIGHT 05/15/2030 550,000$94KAdd +22.2%
GSHRW Gesher Acquisition Corp. I-30 *W EXP 10/31/203 274,999$92KNo change
LWACW Lightwave Acquisition Corp. *W EXP 06/06/203 476,503$91KAdd +138.3%
RANGR Range Capital Acquisition Co. RIGHT 99/99/9999 192,718$91KNo change
PCAPW Procap Acq Corp. A -30 *W EXP 05/16/203 139,262$91KAdd +127.4%
TACHW Titan Acquisition Corp -30 *W EXP 05/16/203 300,000$90KAdd +33.3%
TONT.WS Graf Global Corp.- 29 *W EXP 05/31/203 272,905$90KNo change
SBXWF Silverbox Corp. IV-A- 29 *W EXP 08/19/202 199,555$88KAdd +0.1%
VACHW Voyager Acquisition Corp. -CW *W EXP 05/16/203 509,080$87KAdd +1.8%
UYSCR Uy Scuti Acquisition Corp. RIGHT 03/03/2030 320,200$86KAdd +33.6%
OACCW Oaktree Acquisition III -31 *W EXP 09/01/203 115,000$86KNo change
BKHAR Black Hawk Acquisition C-RTS RIGHT 06/20/2025 50,000$85KNo change
NPACW New Providence Acq A -CW28 *W EXP 04/24/203 191,665$84KAdd +21.1%
NTWOW Newbury Street II Acq - 29 *W EXP 06/01/203 330,000$84KNo change
SIMAW Sim Acquisition Corp. - 29 *W EXP 06/01/203 225,000$83KReduce -10.0%
CUBWW Lionheart Holdings - WT *W EXP 06/07/203 325,000$83KReduce -13.3%
WENNW Wen Acquisition Corp.-A -31 *W EXP 99/99/999 147,473$83KAdd +85.7%
INACR Indigo Acquisition Corp. RIGHT 04/02/2027 500,000$80KNew
SVIRF Spring Valley Acquisit-Right RIGHT 02/25/2026 150,000$78KReduce -40.0%
RTACW Renatus Tactical Acqu - 30 *W EXP 05/15/203 64,447$77KAdd +157.8%
CRAQR Cal Redwood Acquisition Corp. RIGHT 05/15/2030 350,000$77KReduce -17.9%
OYSER Oyster Enterprises II Acquis RIGHT 05/22/2030 450,000$77KAdd +50.0%
SOULPOWER ACQUISITION CORP RIGHT 99/99/9999 393,200$75KReduce -1.7%
AAM.WS Aa Mission Acquisition -30 *W EXP 08/01/203 450,000$72KReduce -5.3%
SOCAW Solarius Capital Acqui -30 *W EXP 07/10/203 289,000$72KNew
GTERR Globa Terra Acquisition-RTS RIGHT 06/17/2030 471,840$71KNew
CHPGR Championsgate Acquisition Co. RIGHT 05/14/2030 502,354$70KNo change
POLEW Andretti Acquisition Corp.-29 *W EXP 06/01/203 350,700$70KAdd +0.2%
SZZLR Sizzle Acquisition Corp. -RTS RIGHT 04/02/2030 383,500$69KReduce -4.1%
ALCWF Alchemy Investments Acqui-28 *W EXP 11/30/202 400,000$68KNo change
RDAGW Republic Digital Acqu - 30 *W EXP 05/01/203 99,999$65KReduce 0.0%
AFJKR Aimei Health Technology Co. L RIGHT 11/17/2028 199,220$64KNo change
DAAQW Digital Asset Acquisition-30 *W EXP 04/01/203 100,000$61KNo change
NETDW Nabors Energy Transiti-CW *W EXP 09/01/202 217,614$61KNo change
GTERW Globa Terra Acquisition - 30 *W EXP 06/17/203 401,500$58KNew
APADR A Paradise Acquisition Corp. RIGHT 07/29/2025 374,000$58KNew
VNMEW Vendome Acquisition Corp. I *W EXP 07/03/202 287,498$58KNew
CCAQW Dune Acquisition Corp. II -30 *W EXP 04/04/203 269,921$57KNo change
BACCR Blue Acquisition Corp.-RTS RIGHT 06/11/2030 350,000$56KReduce -30.0%
WTGUR Wintergreen Acquisition-RT RIGHT 99/99/9999 353,053$56KAdd +135.3%
COPL.WS Copley Acquisition Corp. -30 *W EXP 99/99/999 271,440$55KNo change
FVNNR Future Vision II Acquisi-RTS RIGHT 06/29/2029 300,000$54KNo change
BLUWW Blue Water Acquisition-CW26 *W EXP 05/23/203 375,000$53KReduce -17.4%
ISLWF Israel Acquisitions Corp.-28 *W EXP 99/99/999 275,000$50KReduce -8.3%
COLAR Columbus Acquisition Corp. RIGHT 99/99/9999 275,300$50KNo change
PELIR Pelican Acquisition Corp.-RTS RIGHT 05/02/2030 175,000$47KNo change
HSPTR Horizon Space Acquisition II RIGHT 03/30/2026 310,000$47KNo change
BGLWW Blue Gold Ltd. *W EXP 04/01/203 100,000$46KNew
DTSQR DT Cloud Star Acquisition Co. RIGHT 07/09/2029 300,000$45KNo change
BZAIW Burtech Acquisition -CW23 *W EXP 01/13/203 70,000$43KReduce -53.3%
OBAWW Oxley Bridge Acq Ltd. -30 *W EXP 06/17/203 245,000$42KAdd +11.4%
MACIW Melar Acquisition Corp. I -29 *W EXP 06/01/203 250,000$39KNo change
DAICW Cid Holdco Inc. -26 *W EXP 12/31/202 242,800$37KReduce -30.6%
ORIQW Origin Investment Corp. I -30 *W EXP 06/27/203 200,000$36KNew
ANNAW Aleanna Inc. Class A - 29 *W EXP 12/13/202 173,316$33KReduce -8.4%
PGACR Pantages Capital Acquis-RT RIGHT 11/15/2029 160,000$32KNo change
NOEMW CO2 Energy Transition -28 *W EXP 08/17/202 186,992$32KAdd +0.8%
NAMMW Namib Minerals *W EXP 06/05/203 225,000$32KReduce -35.7%
CAPNR Cayson Acquisition Corp. RIGHT 99/99/9999 159,600$29KNo change
DYCQR DT Cloud Acquisition Cor-RTS RIGHT 02/14/2029 158,103$28KNo change
SPWRW Sunpower Inc.-CW27 *W EXP 07/31/202 100,000$27KNo change
HSPWF Horizon Space Acquisition-28 *W EXP 12/27/202 375,000$26KNo change
HSPRF Horizon Space Acquisition-RT RIGHT 12/27/2024 150,000$24KNo change
BAYAR Bayview Acquisition Corp. RIGHT 11/17/2028 133,919$21KNo change
ONCHW 1RT Acquisition Corp.-A -31 *W EXP 06/26/203 19,938$18KNew
ATMCW Alphatime Acquisition Cor-28 *W EXP 03/01/202 208,500$15KNo change
VGASW Cenaq Energy Corp. Class A -CW27 *W EXP 02/15/202 138,980$14KReduce -7.3%
SBCWW Pono Capital Two Inc. -27 *W EXP 09/17/202 65,000$14KReduce -35.0%
BRLSW Oxus Acquisition Corp. -CW23 *W EXP 02/07/202 149,620$11KReduce -33.5%
SLND.WS Legato Merger Corp. II -CW23 *W EXP 02/14/202 45,024$9KReduce -40.0%
SCAGW Scage Future -30 *W EXP 05/15/203 175,000$8KReduce -46.1%
BSAAR Best Spac I Acquisition - RT RIGHT 05/27/2030 50,000$7KNo change
VEEAW Plum Acquisition I A -CW28 *W EXP 09/13/202 93,200$7KReduce -6.8%
KVAWF Keen Vision Acquisition C-28 *W EXP 03/15/202 92,178$6KNo change
KIDZW Classover Holdings Inc. - 30 *W EXP 04/03/203 60,000$5KReduce -60.0%
FORLW Four Leaf Acquisition Cor-28 *W EXP 03/15/202 122,415$4KNo change
GIBOW Gibo Holdings Ltd.-30 *W EXP 05/08/203 70,000$2KReduce -15.3%
OAKUW Oak Woods Acquisition -28 *W EXP 99/99/999 17,298$605No change

Total filed on the 13F, all lines: $2.1B.

Portfolio Sells Q2 2025 → Q3 2025
NEE Nextera Energy Inc. Reduce -84.6% 2.11% −15.48
FLYYQ Spirit Aviation Holdings Inc. Sold out 0.00% −1.87
GTEN Gores Holdings X Inc. Class A Reduce -53.8% 0.87% −1.77
MCHP Microchip Technology Inc. Reduce -11.4% 2.30% −1.67
JENA Jena Acquisition Corp. II - A Reduce -50.0% 0.77% −1.41
BLUW Blue Water Acquisition C-A Reduce -39.6% 1.03% −1.37
FAC Factorial Energy Inc. Reduce -37.5% 0.95% −1.17
PMTR Perimeter Acquis Corp. I Class A Reduce -45.3% 0.66% −1.02
FOUR SHIFT4 Payments Inc. Class A Sold out 0.00% −0.90
XRPN Armada Acquisition Class A Reduce -45.5% 0.59% −0.87
BBOT Bridgebio Oncology Therapeut Sold out 0.00% −0.82
LCCC Lakeshore Acquisition III Co. Reduce -36.4% 0.67% −0.79
GH Guardant Health Inc. Sold out 0.00% −0.76
LYFT LYFT Inc. Class A Sold out 0.00% −0.74
COPL Copley Acquisition Corp. Class A Reduce -25.0% 0.86% −0.74
BACC Blue Acquisition Corp. Class A Reduce -36.0% 0.61% −0.72
JACS Jackson Acquisition Co. Class A Reduce -59.1% 0.29% −0.70
OBA Oxley Bridge Acquisitio Class A Reduce -43.2% 0.47% −0.69
SZZL Sizzle Acquisition Corp. Class A Reduce -20.9% 0.83% −0.63
EGHA Egh Acquisition Co. Class A Reduce -20.0% 0.76% −0.59
NETD Nabors Energy Transition C-A Sold out 0.00% −0.59
SDHI Siddhi Acquisition Corp. Class A Reduce -17.8% 0.79% −0.55
TVAI Thayer Ventures Acquis Class A Reduce -16.7% 0.71% −0.50
IPCX Inflection Point Acquisiti-A Reduce -23.0% 0.57% −0.48
RAAQ Real Asset Acquisiti Class A Reduce -30.8% 0.43% −0.44
RAC Rithm Acquisition Corp. Class A Reduce -33.3% 0.39% −0.42
CRAQ Cal Redwood Acquisit Class A Reduce -21.4% 0.52% −0.40
TVA Texas Ventures Acquisition-A Reduce -40.0% 0.30% −0.36
SEDG Solaredge Technologies Inc. Sold out 0.00% −0.36
OYSE Oyster Enterprises II Acq-A Reduce -16.8% 0.47% −0.33
ONEN One Nuclear Energy Inc. Reduce -48.3% 0.19% −0.33
ANSC Agriculture & Natural Soluti Reduce -0.0% 0.83% −0.32
ARES ACQUISITION CORP II Sold out 0.00% −0.30
CEPO Cantor Equity Partners I-A Sold out 0.00% −0.28
GSRT GSR III Acquisition Corp. Reduce -39.9% 0.19% −0.28
BEAG Bold Eagle Acquisition Cor-A Reduce -9.1% 0.49% −0.27
QSEA Quartzsea Acquisition Corp. Reduce -21.8% 0.34% −0.26
SVCC Stellar V Capital Corp. Class A Reduce -25.0% 0.29% −0.25
BITCOIN DEPOT INC Reduce -31.3% 0.11% −0.23
DAAQ Digital Asset Acquisiti Class A Reduce -9.0% 0.35% −0.20
XMTR Xometry Inc. Class A Sold out 0.00% −0.19
LPBB Launch Two Acquisition Class A Reduce -20.0% 0.24% −0.18
VCIC Vine Hill Capital Class A Reduce -12.7% 0.31% −0.17
WLAC Willow Lane Acquisition Class A Reduce -50.0% 0.11% −0.16
IMSR Terrestrial Energy Inc. Sold out 0.00% −0.15
CCIR Cohen Circle Acquisitio Class A Sold out 0.00% −0.12
RTAC Renatus Tactical Acquisiti-A Reduce -4.4% 0.10% −0.06
PSEC Prospect Capital Corp. Sold out 0.00% −0.04
REAL The Realreal Inc. Sold out 0.00% −0.01
ADGM Adagio Medical Holdings Inc. Reduce -70.8% 0.07% −0.01

Portfolio Buys Q2 2025 → Q3 2025
IREN Iren Ltd. New 3.44% +3.44
WOLF Wolfspeed Inc. New 3.21% +3.21
OTGAU Otg Acquisition Corp. I New 2.20% +2.20
LCID Lucid Group Inc. New 2.19% +2.19
GSRFU GSR IV Acquisition Corp. New 1.73% +1.73
HVMCU Highview Merger Corp. New 1.61% +1.61
DMIIU Drugs Made in America Acquis New 1.51% +1.51
BCAR D. Boral Arc Acquisit Class A New 1.50% +1.50
LITE Lumentum Holdings Inc. New 1.45% +1.45
SVACU Spring Valley Acquisition Co. New 1.36% +1.36
MBVIU M3-Brigade Acquisition Vi Co. New 1.25% +1.25
NMP NMP Acquisition Corp. Class A New 1.22% +1.22
SOCA Solarius Capital Acquis Class A New 1.14% +1.14
EVAC Eqv Ventures Acquisition C-A New 1.13% +1.13
VNME Vendome Acquisition Corp. Class A New 1.11% +1.11
MKLYU McKinley Acquisition Corp. New 1.04% +1.04
GTERA Globa Terra Acquisition Co. Class A New 1.03% +1.03
BLZRU Trailblazer Acquisition Corp. New 0.95% +0.95
PAII Pyrophyte Acquisition Corp. Class A New 0.94% +0.94
BDCIU BTC Development Corp. New 0.86% +0.86
LATAU Galata Acquisition Corp. II New 0.85% +0.85
INAC Indigo Acquisition Corp. New 0.85% +0.85
SPEG Silver Pegasus Acquisition-A New 0.85% +0.85
BCSS.U Bain Capital GSS Investment New 0.82% +0.82
KOYNU CSLM Digital Asset Acquisiti New 0.77% +0.77
ORIQ Origin Investment Corp. I New 0.76% +0.76
CCII Cohen Circle Acquisit II - A New 0.76% +0.76
CHECU Chenghe Acquisition III Co. New 0.76% +0.76
AEXA American Exceptionalism Class A New 0.72% +0.72
CVLT Commvault Systems Inc. New 0.72% +0.72
APACU Stonebridge Acquisition II C New 0.70% +0.70
BTDR Bitdeer Technologies Group-A Add +26.8% 2.67% +0.69
CEPF Cantor Equity Partners Class A New 0.58% +0.58
MRLN Merlin Inc. New 0.58% +0.58
BRR Columbus Circle Capital Co. Class A Add +148.0% 1.31% +0.54
SSEAU Starry Sea Acquisition Corp. New 0.48% +0.48
HCMA HCM III Acquisition Cor Class A New 0.48% +0.48
FIGX Figx Capital Acquisition C-A Add +213.4% 0.82% +0.46
TLNCU Talon Capital Corp. New 0.43% +0.43
BSAA Best Spac I Acquisition-A New 0.38% +0.38
ENHA Enhanced Group Inc. New 0.38% +0.38
ALNY Alnylam Pharmaceuticals Inc. New 0.35% +0.35
HAYMAKER ACQUISITION CORP 4 Add +160.0% 0.70% +0.33
WENN Wen Acquisition Corp. Class A Add +151.8% 0.77% +0.32
AACB Artius II Acquisition Inc. Class A Add +147.8% 0.72% +0.32
FACT Fact II Acquisition Corp. Add +192.8% 0.59% +0.31
VLOS Velos Acquisition I Corp. Add +218.8% 0.57% +0.30
BOX Box Inc. Class A Add +117.6% 0.94% +0.30
WTG Wintergreen Acquisition Corp. Add +135.1% 0.67% +0.27
PCAP Procap Acquisition Corp. Class A Add +117.5% 0.78% +0.26

Options Activity Q2 2025 → Q3 2025
SPY SS SPDR S&P 500 ETF Trust-US put Reduce -81.8% 125,000 $83.3M
HYG Ishr Ibx Usd Hiyld CB ETF-Ui put Sold out 1,000,000 $80.7Mbefore exit
LCID Lucid Group Inc. put New 1,660,600 $39.5M
MCHP Microchip Technology Inc. put Sold out 375,000 $26.4Mbefore exit
BA The Boeing Co. put Sold out 100,000 $21.0Mbefore exit
BTU Peabody Energy Corp. call New 750,000 $19.4M
NEE Nextera Energy Inc. call New 250,000 $18.9M
NEE Nextera Energy Inc. put Sold out 250,000 $17.4Mbefore exit
PCT Purecycle Technologies Inc. put Add +800.0% 1,125,000 $14.8M
FOUR SHIFT4 Payments Inc. Class A put New 150,000 $11.6M
PAAS Pan American Silver Corp. put New 250,000 $9.7M
MCHP Microchip Technology Inc. call New 75,000 $4.8M
DDOG Datadog Inc. Class A call New 25,000 $3.6M
PCT Purecycle Technologies Inc. call New 250,000 $3.3M
GME Gamestop Corp. Class A call New 75,000 $2.0M
PSEC Prospect Capital Corp. put Sold out 400,000 $1.3Mbefore exit
WOLF Wolfspeed Inc. put Sold out 2,500,000 $1.0Mbefore exit
WOLF Wolfspeed Inc. call Sold out 3,200 $1Kbefore 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 2025 → Q3 2025
APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) SER A MAND CNV Add +32.6% 2,850,000 $201.0M
HP ENTERPRISE CO (HPE 7.625 09/01/27) 7.625 MAND CONV Add +18.0% 2,554,385 $174.3M
DUKE ENERGY CORP (DUK 4.125 04/15/26) NOTE 4.125% 4/1 · principal Reduce -27.7% 155,500,000 $170.2M
CINEMARK HOLDINGS INC (CNK 4.5 08/15/25) NOTE 4.500% 8/1 · principal Sold out 75,000,000 $160.2Mbefore exit
CNX RESOURCES CORP (CNX 2.25 05/01/26) NOTE 2.250% 5/0 · principal Add +28.3% 63,500,000 $159.5M
EVERGY INC (EVRG 4.5 12/15/27) NOTE 4.500%12/1 · principal Sold out 117,500,000 $137.8Mbefore exit
AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) NOTE 6.500% 7/0 · principal Sold out 118,600,000 $122.5Mbefore exit
BOEING CO/THE (BA 6 10/15/27) DEP CONV PFD A Add +26.7% 1,454,795 $102.5M
FIRSTENERGY CORP (FE 4 05/01/26) NOTE 4.000% 5/0 · principal Add +517.1% 92,562,000 $97.9M
INTEGRA LIFESCIENCES HLD (IART 0.5 08/15/25) NOTE 0.500% 8/1 · principal Sold out 87,500,000 $86.9Mbefore exit
DROPBOX INC (DBX 0 03/01/28) NOTE 3/0 · principal Add +11.1% 75,000,000 $77.6M
ON SEMICONDUCTOR CORP (ON 0 05/01/27) NOTE 5/0 · principal Sold out 53,830,000 $63.7Mbefore exit
THE REALREAL INC (REAL 4 02/15/31) DEBT 4.000% 2/1 · principal Add +28.7% 48,250,000 $62.3M
PEABODY ENERGY CORP (BTU 3.25 03/01/28) NOTE 3.250% 3/0 · principal Reduce -13.2% 41,250,000 $62.3M
UBER TECHNOLOGIES INC (UBER 0 12/15/25) NOTE 12/1 · principal New 44,500,000 $54.3M
TXNM ENERGY INC (TXNM 5.75 06/01/54) NOTE 5.750% 6/0 · principal Reduce -4.8% 38,100,000 $50.5M
WESTERN DIGITAL CORP (WDC 3 11/15/28) NOTE 3.000%11/1 · principal Sold out 25,000,000 $45.0Mbefore exit
SPOTIFY USA INC (SPOT 0 03/15/26) NOTE 3/1 · principal New 32,500,000 $44.4M
PENNYMAC CORP (PMT 5.5 03/15/26) NOTE 5.500% 3/1 · principal Reduce -12.0% 44,000,000 $44.0M
WOLF Wolfspeed Inc. (wolf 1.75 05/01/26) NOTE 1.750% 5/0 · principal Sold out 155,000,000 $39.2Mbefore exit
PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) NOTE 1.750%12/1 · principal Sold out 37,500,000 $35.5Mbefore exit
DROPBOX INC (DBX 0 03/01/26) NOTE 3/0 · principal New 35,000,000 $34.6M
PURECYCLE TECHNOLOGIES (PCT 7.25 08/15/30) NOTE 7.250% 8/1 · principal Add +20.9% 26,600,000 $32.3M
DYNAVAX TECHNOLOGIES (DVAX 2.5 05/15/26) NOTE 2.500% 5/1 · principal Add +104.5% 29,000,000 $31.9M
WEC ENERGY GROUP INC (WEC 4.375 06/01/27) NOTE 4.375% 6/0 · principal Sold out 27,500,000 $31.1Mbefore exit
NEXTERA ENERGY INC (NEE 7.299 06/01/27) UNIT 06/01/2027 New 535,000 $26.8M
FORD MOTOR COMPANY (F 0 03/15/26) NOTE 3/1 · principal New 25,000,000 $25.3M
Q2 HOLDINGS INC (QTWO 0.125 11/15/25) NOTE 0.125%11/1 · principal New 23,175,000 $23.0M
GREEN PLAINS INC (GPRE 2.25 03/15/27) NOTE 2.250% 3/1 · principal Sold out 25,350,000 $21.7Mbefore exit
GOSSAMER BIO INC (GOSS 5 06/01/27) NOTE 5.000% 6/0 · principal Reduce -33.6% 22,250,000 $15.9M
PINNACLE WEST CAPITAL (PNW 4.75 06/15/27) NOTE 4.750% 6/1 · principal Reduce -78.3% 12,500,000 $13.6M
SHOPIFY INC (SHOPCN 0.125 11/01/25) NOTE 0.125%11/0 · principal New 11,600,000 $12.2M
PENN ENTERTAINMENT INC (PENN 2.75 05/15/26) NOTE 2.750% 5/1 · principal New 7,000,000 $7.3M
MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28) DEP SHS REPSTG New 105,753 $6.3M
KIMCO REALTY CORP (KIM 7.25 PERP N) DP CV CL N 7.25% Reduce -99.7% 75,991 $4.6M
WISDOMTREE INVESTMENTS (WT 3.25 06/15/26) NOTE 3.250% 6/1 · principal Sold out 3,000,000 $3.4Mbefore exit
NCL CORPORATION LTD (NCLH 5.375 08/01/25) NOTE 5.375% 8/0 · principal Sold out 2,500,000 $2.8Mbefore exit
BEYOND MEAT INC (BYND 0 03/15/27) NOTE 3/1 · principal New 4,500,000 $902K
WLACW Willow Lane Acquisition - 29 *W EXP 10/31/203 Reduce -5.0% 285,000 $798K
VCICW Vine Hill Capital Class A-2 *W EXP 07/01/203 Reduce -11.4% 400,000 $640K
INFQ.WS Churchill Capital Corp. X *W EXP 05/14/203 Add +64.7% 175,000 $621K
XRPNW Armada Acquisition Corp - A *W EXP 05/21/203 Reduce -4.4% 500,000 $475K
BACQR Inflection Point Acquisition RIGHT 11/04/2026 Add +25.1% 625,553 $425K
KYIVW Kyivstar Group Ltd. -30 *W EXP 08/14/203 New 100,000 $406K
KDKRW Ares Acquisition Corp. II-28 *W EXP 99/99/999 Sold out 350,000 $385Kbefore exit
GSRTR GSR III Acquisition Corp. RIGHT 99/99/9999 Reduce -78.8% 43,507 $369K
IPCXR Inflection Point Acquisition RIGHT 04/25/2030 Add +13.1% 834,377 $367K
BRRWW Columbus Circle Capital -30 *W EXP 05/16/203 Add +60.0% 300,000 $360K
TVACW Texas Ventures Acq -31 *W EXP 04/23/203 Reduce -35.0% 325,000 $358K
DMYYW DMY Squared Technology GR-27 *W EXP 99/99/999 Sold out 175,000 $334Kbefore exit

Showing the first 50 of 160.

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 262$877.1MKKR, BOX, SO, BTDR, GSRVU
Q1 2026 233$899.9MKKR, BA, SO, BOX, NEE
Q4 2025 184$761.2MBA, MCHP, NEE, ZTS, DDOG
Q3 2025 140$527.8MIREN, WOLF, BTDR, MCHP, OTGAU
Q2 2025 107$378.1MNEE, MCHP, GTEN, BLUWU, JENA.U
Q1 2025 46$285.1MNEE, BA, LOKVU, MSTR, RAC.U
Q4 2024 51$356.0MNEE, MSTR, BA, SPY, GSRTU
Q3 2024Amended 51$235.7MNEE, MSTR, FTW.U, VACHU, AAM
Q2 2024 69$261.0MNEE, PANW, RRACF, RENEF, USAR
Q1 2024Amended 72$245.7MMSTR, NEE, SOFI, LEGT.U, RENEF