Q4 2025 · 13F-HR
MMCAP International Inc. SPCholdings as filed
Filed 2026-02-09 · accession 0000912282-26-000275
$1.00B
Reported value
208
Positions
2025-12-31
Period end
The Brief · MMCAP International Inc. SPC · Q4 2025
AI · grounded in 13F
MMCAP International Inc. SPC established a new position in CCXIU worth $27.57M. The fund also opened new stakes in MESHU for $15M and IRHOU for $14.92M. On the sell side, the fund closed its position in INFQ, reducing its exposure by $20.32M. Other notable activity includes a 4,759.12% increase in shares of NXE and a 96.96% reduction in ASST.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 04040Y109 | ARIS | Aris Mining Corp | $224.4M | 22.4% | 13,804,061 | Common | SOLE |
| 015658107 | ASTL | Algoma Steel Group Inc | $47.1M | 4.71% | 11,487,861 | Common | SOLE |
| G2131A124 | CCXIU | Churchill Capital Corp XI | $27.6M | 2.76% | 2,700,000 | Common | SOLE |
| G2851K120 | DMIIU | Drugs Made In America Acquisit | $27.0M | 2.70% | 2,700,000 | Common | SOLE |
| G6476A102 | NPAC | New Providence Acquisition Cor | $22.6M | 2.26% | 2,200,000 | Common | SOLE |
| 65340P106 | NXE | NexGen Energy SEG | $22.4M | 2.23% | 2,429,898 | Common | SOLE |
| G3415K101 | FERA | Fifth Era Acquisition Corp I | $19.6M | 1.95% | 1,900,000 | Common | SOLE |
| 248356107 | DNN | Denison Mines Corp | $19.2M | 1.92% | 7,219,531 | Common | SOLE |
| G7515A103 | RDAG | Republic Digital Acquisition C | $15.8M | 1.58% | 1,565,000 | Common | SOLE |
| G5S86M100 | LPAA | Launch One Acquisition Corp | $15.7M | 1.57% | 1,480,000 | Common | SOLE |
| G1828E100 | CEPF | Cantor Equity Partners IV Inc | $15.4M | 1.54% | 1,500,000 | Common | SOLE |
| G6032N127 | MESHU | Meshflow Acquisition Corp | $15.0M | 1.50% | 1,500,000 | Common | SOLE |
| 46283H202 | IRHOU | Iron Horse Acquisition II Corp | $14.9M | 1.49% | 1,500,000 | Common | SOLE |
| 916896103 | UEC | Uranium Energy Corp | $14.6M | 1.46% | 1,248,363 | Common | SOLE |
| G21301109 | CCIX | Churchill Capital Corp IX | $14.4M | 1.43% | 1,350,000 | Common | SOLE |
| G47875102 | IPCX | Inflection Point Acquisition C | $14.2M | 1.42% | 1,400,000 | Common | SOLE |
| G19307100 | CGCT | CARTESIAN GROWTH CORP III | $13.9M | 1.39% | 1,350,000 | Common | SOLE |
| G4035N103 | GPAT | GP-Act III Acquisition Corp | $13.6M | 1.36% | 1,275,000 | Common | SOLE |
| G3265R107 | APTV | Aptiv PLC | $13.0M | 1.30% | 170,268 | Common | SOLE |
| G20315100 | ALF | Centurion Acquisition Corp | $12.5M | 1.25% | 1,175,000 | Common | SOLE |
| G1828S109 | CEPV | Cantor Equity Partners V Inc | $12.3M | 1.23% | 1,200,000 | Common | SOLE |
| G9R39C103 | WENN | Wen Acquisition Corp | $12.1M | 1.21% | 1,200,000 | Common | SOLE |
| G63221108 | MBVI | M3-Brigade Acquisition VI Corp | $11.0M | 1.10% | 1,100,000 | Common | SOLE |
| 29259W700 | EU | Encore Energy Corp | $10.7M | 1.07% | 4,316,238 | Common | SOLE |
| G5501C109 | CUB | Lionheart Holdings | $10.4M | 1.04% | 980,000 | Common | SOLE |
| G8431T101 | SIMA | SIM Acquisition Corp I | $10.4M | 1.04% | 980,000 | Common | SOLE |
| G81354105 | SBXD | Silverbox Corp IV | $10.4M | 1.04% | 980,000 | Common | SOLE |
| 59982U200 | SUIG | Sui Group Holdings Ltd | $10.3M | 1.03% | 6,141,356 | Common | SOLE |
| G4375F108 | HYAC | Haymaker Acquisition Corp 4 | $10.2M | 1.02% | 900,000 | Common | SOLE |
| G3730U107 | FCRS | FutureCrest Acquisition Corp | $10.1M | 1.01% | 1,000,000 | Common | SOLE |
| G4365E103 | HCMA | HCM III Acquisition Corp | $10.0M | 1.00% | 1,000,000 | Common | SOLE |
| G9009S103 | BLZR | Trailblazer Acquisition Corp | $10.0M | 1.00% | 1,000,000 | Common | SOLE |
| G6001S123 | LPCVU | Launchpad Cadenza Acquisition | $10.0M | 1.00% | 1,000,000 | Common | SOLE |
| G0R91M121 | ADACU | American Drive Acquisition Co | $10.0M | 1.00% | 1,000,000 | Common | SOLE |
| 73044W302 | POET | POET Technologies Inc | $9.7M | 0.97% | 1,526,205 | Common | SOLE |
| G4036C106 | GRAF | Graf Global Corp | $8.9M | 0.89% | 830,000 | Common | SOLE |
| G4977S128 | ITHAU | ITHAX Acquisition Corp III | $8.0M | 0.80% | 800,000 | Common | SOLE |
| 962166104 | WY | Weyerhaeuser Co | $7.8M | 0.78% | 327,500 | Common | SOLE |
| G1828A108 | CAEP | Cantor Equity Partners III Inc | $7.7M | 0.76% | 750,000 | Common | SOLE |
| G6858G107 | OBA | Oxley Bridge Acquisition Ltd | $7.6M | 0.76% | 750,000 | Common | SOLE |
| G8148S123 | SBXE/U | SilverBox Corp V | $7.5M | 0.75% | 750,000 | Common | SOLE |
| G7117W107 | PACH | Pioneer Acquisition I Corp | $7.5M | 0.75% | 750,000 | Common | SOLE |
| 22717L101 | CRON | Cronos Group Inc | $7.3M | 0.73% | 2,761,059 | Common | SOLE |
| 820014405 | SBET | Sharplink Gaming Inc | $7.2M | 0.72% | 807,600 | Common | SOLE |
| G0273J101 | AEXA | American Exceptionalism Acquis | $7.2M | 0.72% | 631,494 | Common | SOLE |
| G4002F109 | GTEN | Gores Holdings X Inc | $7.2M | 0.72% | 700,000 | Common | SOLE |
| G25014120 | CRANU | Crane Harbor Acquisition Corp | $6.5M | 0.65% | 650,000 | Common | SOLE |
| G6757R105 | ONCH | 1RT Acquisition Corp | $6.1M | 0.61% | 600,000 | Common | SOLE |
| G26745102 | POLE | Andretti Acquisition Corp II | $6.1M | 0.61% | 580,000 | Common | SOLE |
| 12664M103 | NOEM | CO2 Energy Transition Corp | $6.1M | 0.61% | 590,000 | Common | SOLE |
| 37045V100 | GM | General Motors Co | $5.4M | 0.54% | 66,338 | Common | SOLE |
| 292671708 | UUUU | Energy Fuels Inc/Canada | $5.2M | 0.52% | 357,225 | Common | SOLE |
| G5S87A105 | LPBB | Launch Two Acquisition Corp | $5.0M | 0.50% | 480,000 | Common | SOLE |
| G3473K100 | FIGX | FIGX Capital Acquisition Corp | $5.0M | 0.50% | 500,000 | Common | SOLE |
| 184492106 | ZONE | Cleancore Solutions Inc | $4.8M | 0.48% | 18,356,175 | Common | SOLE |
| G6439S109 | NTWO | Newbury Street II Acquisition | $4.7M | 0.47% | 450,000 | Common | SOLE |
| 881454102 | IMSR | Terrestrial Energy Inc | $4.6M | 0.46% | 750,000 | Common | SOLE |
| G63212107 | MBAV | M3-Brigade Acquisition V Corp | $4.3M | 0.43% | 400,000 | Common | SOLE |
| 74319B502 | PROF | Profound Medical Corp | $4.2M | 0.42% | 531,362 | Common | SOLE |
| 03938L203 | MT | ArcelorMittal SA | $4.2M | 0.42% | 91,427 | Common | SOLE |
| G1352R121 | BLRKU | Bluerock Acquisition Corp | $4.0M | 0.40% | 400,000 | Common | SOLE |
| 09173B107 | 1B2 | Bitfarms Ltd/Canada | $4.0M | 0.40% | 1,695,298 | Common | SOLE |
| G9145D127 | TWLVU | Twelve Seas Investment Co III | $4.0M | 0.40% | 400,000 | Common | SOLE |
| 39959A205 | UPXI | Upexi Inc | $3.9M | 0.39% | 2,326,777 | Common | SOLE |
| 099724106 | BWA | BorgWarner Inc | $3.8M | 0.38% | 85,138 | Common | SOLE |
| G9008W105 | TDAC | Translational Development Acqu | $3.7M | 0.37% | 350,000 | Common | SOLE |
| G2130T116 | INFQ/WS | Churchill Capital Corp X | $3.3M | 0.33% | 430,970 | Common | SOLE |
| M2573A106 | ZOOZ | ZOOZ Strategy Ltd | $3.1M | 0.31% | 7,000,000 | Common | SOLE |
| G8254P129 | SCPQU | Social Commerce Partners Corp | $3.0M | 0.30% | 300,000 | Common | SOLE |
| G8475V103 | SVCC | Stellar V Capital Corp | $2.9M | 0.29% | 280,000 | Common | SOLE |
| G93A7H104 | VACH | Voyager Acquisition Corp | $2.7M | 0.27% | 250,000 | Common | SOLE |
| G1331A108 | BACC | Blue Acquisition Corp | $2.6M | 0.26% | 250,000 | Common | SOLE |
| G7375J129 | RNGTU | Range Capital Acquisition Corp | $2.5M | 0.25% | 250,000 | Common | SOLE |
| G5490M100 | LWAC | Lightwave Acquisition Corp | $2.5M | 0.25% | 250,000 | Common | SOLE |
| 668771116 | GENVR | Gen Digital Inc | $2.5M | 0.25% | 542,308 | Common | SOLE |
| 46500E867 | ISOU | IsoEnergy Ltd | $2.4M | 0.24% | 270,745 | Common | SOLE |
| 64440N103 | NFGC | New Found Gold Corp | $2.2M | 0.22% | 745,835 | Common | SOLE |
| 89469A104 | THS | TreeHouse Foods Inc | $2.2M | 0.22% | 93,700 | Common | SOLE |
| G6486E102 | NHIC | NewHold Investment Corp III | $2.1M | 0.21% | 200,000 | Common | SOLE |
| G1368E106 | BLUW | Blue Water Acquisition Corp II | $2.1M | 0.21% | 200,000 | Common | SOLE |
| G6861F104 | OYSE | Oyster Enterprises II Acquisit | $2.0M | 0.20% | 200,000 | Common | SOLE |
| G3226F127 | EVOXU | Evolution Global Acquisition C | $2.0M | 0.20% | 200,000 | Common | SOLE |
| G2616C124 | DSACU | Daedalus Special Acquisition C | $2.0M | 0.20% | 200,000 | Common | SOLE |
| G0081J129 | AEAQU | Activate Energy Acquisition Co | $2.0M | 0.20% | 200,000 | Common | SOLE |
| 143130102 | KMX | CarMax Inc | $1.8M | 0.18% | 47,257 | Common | SOLE |
| 858119100 | STLD | Steel Dynamics Inc | $1.8M | 0.18% | 10,711 | Common | SOLE |
| G3852D107 | GSHR | Gesher Acquisition Corp II | $1.8M | 0.18% | 175,000 | Common | SOLE |
| G42386121 | HCACU | Hall Chadwick Acquisition Corp | $1.8M | 0.18% | 175,000 | Common | SOLE |
| G5414D129 | LFACU | Leapfrog Acquisition Corp | $1.5M | 0.15% | 150,000 | Common | SOLE |
| G2086N105 | CHEC | Chenghe Acquisition III Co | $1.5M | 0.15% | 150,000 | Common | SOLE |
| G1143H127 | BIXIU | Bitcoin Infrastructure Acquisi | $1.5M | 0.15% | 150,000 | Common | SOLE |
| G04537109 | ATII | Archimedes Tech SPAC Partners | $1.3M | 0.13% | 125,000 | Common | SOLE |
| G1069P103 | BSAA | BEST SPAC I Acquisition Corp | $1.3M | 0.13% | 125,000 | Common | SOLE |
| 86765Q106 | SUNC | Sunococorp LLC | $1.1M | 0.11% | 22,755 | Common | SOLE |
| G5451A103 | LEGT | Legato Merger Corp III | $1.1M | 0.11% | 100,000 | Common | SOLE |
| G7257A105 | PCAP | ProCap Acquisition Corp | $1.0M | 0.10% | 100,000 | Common | SOLE |
| G3R25N108 | LATA | Galata Acquisition Corp II | $996,000 | 0.10% | 100,000 | Common | SOLE |
| 39525U107 | GFR | Greenfire Resources Ltd | $991,800 | 0.10% | 207,309 | Common | SOLE |
| 13646K108 | CP | Canadian Pacific Kansas City L | $942,464 | 0.09% | 12,800 | Common | SOLE |
| G3415K135 | FERAR | Fifth Era Acquisition Corp I | $759,810 | 0.08% | 1,900,000 | Common | SOLE |
| G8662J111 | TDWD | Tailwind 2.0 Acquisition Corp | $738,750 | 0.07% | 75,000 | Common | SOLE |
| X3R81D110 | AFRIW | Forafric Global PLC | $726,460 | 0.07% | 518,900 | Common | SOLE |
| 91688R108 | URG | Ur-Energy Inc | $716,929 | 0.07% | 515,776 | Common | SOLE |
| G4375F116 | — | Haymaker Acquisition Corp 4 | $697,500 | 0.07% | 450,000 | Common | SOLE |
| 125269100 | CF | CF Industries Holdings Inc | $696,060 | 0.07% | 9,000 | Common | SOLE |
| H5870P110 | OCSAW | Oculis Holding AG | $625,094 | 0.06% | 73,025 | Common | SOLE |
| 46438R105 | ETHA | iShares Ethereum Trust ETF | $560,750 | 0.06% | 25,000 | Common | SOLE |
| G19307126 | CGCTW | CARTESIAN GROWTH CORP III | $533,250 | 0.05% | 675,000 | Common | SOLE |
| G47875110 | IPCXR | Inflection Point Acquisition C | $529,200 | 0.05% | 1,400,000 | Common | SOLE |
| G2662B111 | CRMLW | Critical Metals Corp | $514,878 | 0.05% | 188,600 | Common | SOLE |
| G7515A129 | RDAGW | Republic Digital Acquisition C | $453,850 | 0.05% | 782,500 | Common | SOLE |
| 862945102 | ASST | Strive Inc | $416,084 | 0.04% | 563,800 | Common | SOLE |
| G20315118 | ALFUW | Centurion Acquisition Corp | $396,000 | 0.04% | 1,237,500 | Common | SOLE |
| 83411A205 | STKE | Sol Strategies Inc | $379,812 | 0.04% | 250,000 | Common | SOLE |
| G6476A110 | NPACW | New Providence Acquisition Cor | $370,553 | 0.04% | 733,333 | Common | SOLE |
| 19425C100 | CNL | Collective Mining Ltd | $353,079 | 0.04% | 24,170 | Common | SOLE |
| G63212115 | MBAVW | M3-Brigade Acquisition V Corp | $305,962 | 0.03% | 349,671 | Common | SOLE |
| 092915115 | BZAIW | Blaize Holdings Inc | $299,925 | 0.03% | 750,000 | Common | SOLE |
| G21301117 | CCIXW | Churchill Capital Corp IX | $298,620 | 0.03% | 337,500 | Common | SOLE |
| G4035N129 | GPATW | GP-Act III Acquisition Corp | $279,710 | 0.03% | 1,037,500 | Common | SOLE |
| 01861F110 | AENTW | Alliance Entertainment Holding | $249,812 | 0.02% | 294,000 | Common | SOLE |
| G5S86M126 | LPAAW | Launch One Acquisition Corp | $247,500 | 0.02% | 990,000 | Common | SOLE |
| G75398118 | RZLVW | Rezolve AI PLC | $227,500 | 0.02% | 250,000 | Common | SOLE |
| G8431T119 | SIMAW | SIM Acquisition Corp I | $213,246 | 0.02% | 990,000 | Common | SOLE |
| 14161Y200 | CRDL | Cardiol Therapeutics Inc | $199,297 | 0.02% | 208,950 | Common | SOLE |
| G4036C122 | GRAF/WS | Graf Global Corp | $187,580 | 0.02% | 415,000 | Common | SOLE |
| G9R39C111 | WENNW | Wen Acquisition Corp | $186,180 | 0.02% | 600,000 | Common | SOLE |
| G3730U115 | FCRS/WS | FutureCrest Acquisition Corp | $182,500 | 0.02% | 250,000 | Common | SOLE |
| 926711300 | QXL | ViewBix Inc | $177,472 | 0.02% | 115,995 | Common | SOLE |
| G5501C117 | CUBWW | Lionheart Holdings | $168,300 | 0.02% | 990,000 | Common | SOLE |
| G4365E111 | HCMAW | HCM III Acquisition Corp | $166,667 | 0.02% | 333,333 | Common | SOLE |
| G4002F125 | GTENW | Gores Holdings X Inc | $162,733 | 0.02% | 175,000 | Common | SOLE |
| G9009S111 | BLZRW | Trailblazer Acquisition Corp | $160,033 | 0.02% | 333,333 | Common | SOLE |
| G5S87A113 | LPBBW | Launch Two Acquisition Corp | $154,693 | 0.02% | 490,000 | Common | SOLE |
| M0740A116 | DRTSW | Alpha Tau Medical Ltd | $152,191 | 0.02% | 447,622 | Common | SOLE |
| G63221116 | MBVIW | M3-Brigade Acquisition VI Corp | $135,666 | 0.01% | 366,666 | Common | SOLE |
| 12664M129 | NOEMR | CO2 Energy Transition Corp | $130,390 | 0.01% | 590,000 | Common | SOLE |
| G4992A136 | JACS-R | Jackson Acquisition Co II | $125,000 | 0.01% | 500,000 | Common | SOLE |
| 256827783 | DVS | Dolly Varden Silver Corp | $109,561 | 0.01% | 25,000 | Common | SOLE |
| 12664M111 | NOEMW | CO2 Energy Transition Corp | $99,415 | 0.01% | 590,000 | Common | SOLE |
| G7117W115 | PACHW | Pioneer Acquisition I Corp | $97,500 | 0.01% | 375,000 | Common | SOLE |
| G81354121 | SBXD/WS | Silverbox Corp IV | $91,499 | 0.01% | 326,666 | Common | SOLE |
| G6757R113 | ONCHW | 1RT Acquisition Corp | $87,015 | 0.01% | 150,000 | Common | SOLE |
| G26745128 | POLEW | Andretti Acquisition Corp II | $83,694 | 0.01% | 290,000 | Common | SOLE |
| G6858G115 | OBAWW | Oxley Bridge Acquisition Ltd | $82,538 | 0.01% | 375,000 | Common | SOLE |
| G6375R107 | NESR | National Energy Services Reuni | $81,855 | 0.01% | 5,227 | Common | SOLE |
| G1331A116 | BACCR | Blue Acquisition Corp | $81,025 | 0.01% | 250,000 | Common | SOLE |
| G3473K118 | FIGXW | FIGX Capital Acquisition Corp | $68,675 | 0.01% | 250,000 | Common | SOLE |
| 73245B115 | SBCWW | SBC Medical Group Holdings Inc | $66,990 | 0.01% | 330,000 | Common | SOLE |
| G1152A120 | FUFUW | BitFuFu Inc | $66,000 | 0.01% | 330,000 | Common | SOLE |
| 36118R103 | FUSE | Fusemachines Inc | $57,750 | 0.01% | 35,000 | Common | SOLE |
| G6439S117 | NTWOW | Newbury Street II Acquisition | $56,475 | 0.01% | 225,000 | Common | SOLE |
| G8316B118 | SPKLW | Spark I Acquisition Corp | $55,125 | 0.01% | 175,000 | Common | SOLE |
| G9008W113 | TDACW | Translational Development Acqu | $54,250 | 0.01% | 175,000 | Common | SOLE |
| G1368E114 | BLUWW | Blue Water Acquisition Corp II | $53,000 | 0.01% | 100,000 | Common | SOLE |
| 26145B114 | DFLIW | Dragonfly Energy Holdings Corp | $47,250 | 0.00% | 675,000 | Common | SOLE |
| G0231P108 | ALPS | Alps Group Inc | $46,948 | 0.00% | 54,000 | Common | SOLE |
| G8475V111 | SVCCW | Stellar V Capital Corp | $46,186 | 0.00% | 140,000 | Common | SOLE |
| G6486E110 | NHICW | NewHold Investment Corp III | $45,030 | 0.00% | 100,000 | Common | SOLE |
| 80401C118 | SATLW | Satellogic Inc | $42,500 | 0.00% | 166,666 | Common | SOLE |
| G7606H116 | RDZNW | Roadzen Inc | $40,755 | 0.00% | 150,000 | Common | SOLE |
| 92919Y110 | VSEEW | VSee Health Inc | $40,050 | 0.00% | 500,000 | Common | SOLE |
| G6861F138 | OYSER | Oyster Enterprises II Acquisit | $40,000 | 0.00% | 200,000 | Common | SOLE |
| G3852D115 | GSHRW | Gesher Acquisition Corp II | $39,375 | 0.00% | 87,500 | Common | SOLE |
| 03464C205 | AEC | Anfield Energy Inc | $34,899 | 0.00% | 6,787 | Common | SOLE |
| G04537125 | ATIIW | Archimedes Tech SPAC Partners | $34,319 | 0.00% | 62,500 | Common | SOLE |
| G5490M126 | LWACW | Lightwave Acquisition Corp | $33,750 | 0.00% | 125,000 | Common | SOLE |
| 020952115 | AMODW | Alpha Modus Holdings Inc | $32,281 | 0.00% | 588,000 | Common | SOLE |
| G0232F133 | ALCWF | Alchemy Investments Acquisitio | $31,500 | 0.00% | 150,000 | Common | SOLE |
| G5568L117 | LZM/WS | Lifezone Metals Ltd | $28,678 | 0.00% | 69,810 | Common | SOLE |
| 88165K119 | TVGNW | Tevogen Bio Holdings Inc | $27,430 | 0.00% | 650,000 | Common | SOLE |
| 29103K118 | FLDDW | Fold Holdings Inc | $26,600 | 0.00% | 175,000 | Common | SOLE |
| G93A7H112 | VACHW | Voyager Acquisition Corp | $25,625 | 0.00% | 125,000 | Common | SOLE |
| 63911H116 | KITTW | Nauticus Robotics Inc | $22,550 | 0.00% | 500,000 | Common | SOLE |
| G5451A111 | LEGT/WS | Legato Merger Corp III | $20,505 | 0.00% | 50,000 | Common | SOLE |
| 68218J111 | OABIW | OmniAb Inc | $18,984 | 0.00% | 158,333 | Common | SOLE |
| G1069P129 | BSAAR | BEST SPAC I Acquisition Corp | $18,875 | 0.00% | 125,000 | Common | SOLE |
| 95758L115 | CYCUW | Cycurion Inc | $17,000 | 0.00% | 500,000 | Common | SOLE |
| 351665112 | FOXXW | Foxx Development Holdings Inc | $16,800 | 0.00% | 160,000 | Common | SOLE |
| M6000J127 | HUBCW | Hub Cyber Security Ltd | $16,541 | 0.00% | 898,991 | Common | SOLE |
| G3R95P116 | OIOWW | ESGL Holdings Ltd | $15,475 | 0.00% | 154,750 | Common | SOLE |
| G2086N121 | CHECW | Chenghe Acquisition III Co | $15,000 | 0.00% | 75,000 | Common | SOLE |
| G3R25N116 | LATAW | Galata Acquisition Corp II | $13,333 | 0.00% | 33,333 | Common | SOLE |
| G63369113 | MRNOW | Murano Global Investments PLC | $13,150 | 0.00% | 500,000 | Common | SOLE |
| G7257A121 | PCAPW | ProCap Acquisition Corp | $12,370 | 0.00% | 33,333 | Common | SOLE |
| G8662J129 | TDWDR | Tailwind 2.0 Acquisition Corp | $12,300 | 0.00% | 75,000 | Common | SOLE |
| 40472A128 | EONR/WS | EON Resources Inc | $12,231 | 0.00% | 257,500 | Common | SOLE |
| 74449F118 | PBMWW | Psyence Biomedical Ltd | $11,100 | 0.00% | 600,000 | Common | SOLE |
| 000847111 | ABPWW | Abpro Holdings Inc | $11,070 | 0.00% | 675,000 | Common | SOLE |
| 36118R111 | FUSEW | Fusemachines Inc | $10,850 | 0.00% | 175,000 | Common | SOLE |
| 171756117 | DAICW | CID Holdco Inc | $8,010 | 0.00% | 100,000 | Common | SOLE |
| 08178Q119 | BENFW | Beneficient | $7,950 | 0.00% | 750,000 | Common | SOLE |
| G52443127 | KVACW | Keen Vision Acquisition Corp | $7,665 | 0.00% | 150,000 | Common | SOLE |
| 98944F117 | ZEOWW | Zeo Energy Corp | $6,962 | 0.00% | 195,575 | Common | SOLE |
| 817323405 | SQNS | Sequans Communications SA | $6,915 | 0.00% | 1,540 | Common | SOLE |
| G0544E113 | NIVFW | NewGenIvf Group Ltd | $6,375 | 0.00% | 375,000 | Common | SOLE |
| G8267K117 | SMXWW | SMX Security Matters PLC | $5,938 | 0.00% | 125,000 | Common | SOLE |
| M9607U107 | VLN/WS | Valens Semiconductor Ltd | $5,352 | 0.00% | 214,067 | Common | SOLE |
| G1331C112 | BGLWW | Blue Gold Ltd | $5,265 | 0.00% | 12,500 | Common | SOLE |
| 456948116 | MSAIW | MultiSensor AI Holdings Inc | $4,977 | 0.00% | 175,250 | Common | SOLE |
| 06682J118 | BNZIW | Banzai International Inc | $4,934 | 0.00% | 352,409 | Common | SOLE |
| G38617117 | GIBOW | GIBO Holdings Ltd | $4,913 | 0.00% | 125,000 | Common | SOLE |
| 53271X116 | LIMNW | Liminatus Pharma Inc | $3,911 | 0.00% | 111,745 | Common | SOLE |
| 20678X114 | CDTTW | CDT Equity Inc | $3,850 | 0.00% | 700,000 | Common | SOLE |
| G0411D115 | APLMW | Apollomics Inc | $2,775 | 0.00% | 250,000 | Common | SOLE |
| G3016G111 | ELPW | eLong Power Holding Ltd | $2,694 | 0.00% | 1,480 | Common | SOLE |
| 182744110 | KIDZW | Classover Holdings Inc | $2,250 | 0.00% | 187,500 | Common | SOLE |
| 47714H308 | JTAI | Jet.AI Inc | $787 | 0.00% | 1,343 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.