Q2 2025 · 13F-HR
MMCAP International Inc. SPCholdings as filed
Filed 2025-08-06 · accession 0001062993-25-013723
$831.4M
Reported value
144
Positions
2025-06-30
Period end
The Brief · MMCAP International Inc. SPC · Q2 2025
AI · grounded in 13F
MMCAP International Inc. SPC established a new position in ARIS MNG CORP ARIS valued at $141.3M. The fund also initiated a $107.3M stake in URANIUM ENERGY CORP UEC and a $49.7M position in ALGOMA STL GROUP INC ASTL. Other new additions include POET TECHNOLOGIES INC POET and DENISON MINES CORP DNN.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 04040Y109 | ARIS | ARIS MNG CORP | $141.3M | 17.0% | 11,324,587 | Common | SOLE |
| 916896103 | UEC | URANIUM ENERGY CORP | $107.3M | 12.9% | 15,782,970 | Common | SOLE |
| 015658107 | ASTL | ALGOMA STL GROUP INC | $49.7M | 5.98% | 7,218,218 | Common | SOLE |
| 73044W302 | POET | POET TECHNOLOGIES INC | $30.7M | 3.69% | 5,894,384 | Common | SOLE |
| 248356107 | DNN | DENISON MINES CORP | $24.4M | 2.94% | 13,412,284 | Common | SOLE |
| G6476A128 | NPACU | NEW PROVIDENCE ACQUISITION C | $23.0M | 2.77% | 2,200,000 | Common | SOLE |
| G2130T124 | CCCXU | CHURCHILL CAP CORP X | $20.6M | 2.48% | 2,000,000 | Common | SOLE |
| G3415K127 | FERAU | FIFTH ERA ACQUISITION CORP I | $19.8M | 2.38% | 1,900,000 | Common | SOLE |
| G63212107 | MBAV | M3BRIGADE ACQUISITION V CORP | $16.9M | 2.04% | 1,500,000 | Common | SOLE |
| G7515A111 | RDAGU | REPUBLIC DIGITAL ACQUISITION | $16.7M | 2.01% | 1,565,000 | Common | SOLE |
| 36317J209 | GLXY | GALAXY DIGITAL INC. | $16.6M | 2.00% | 760,086 | Common | SOLE |
| G5S86M100 | LPAA | LAUNCH ONE ACQUISITION CORP | $15.4M | 1.85% | 1,480,000 | Common | SOLE |
| G47875128 | IPCXU | INFLECTION PT ACQUISITION CO | $14.7M | 1.77% | 1,400,000 | Common | SOLE |
| G21301109 | CCIX | CHURCHILL CAPITAL CORP IX | $14.2M | 1.71% | 1,350,000 | Common | SOLE |
| 65340P106 | NXE | NEXGEN ENERGY LTD | $13.9M | 1.67% | 2,006,125 | Common | SOLE |
| G19307118 | CGCTU | CARTESIAN GROWTH CORP III | $13.7M | 1.64% | 1,350,000 | Common | SOLE |
| G4035N103 | GPAT | GP-ACT III ACQUISITION CORP | $13.5M | 1.62% | 1,275,000 | Common | SOLE |
| G9R39C129 | WENNU | WEN ACQUISITION CORP | $12.7M | 1.53% | 1,200,000 | Common | SOLE |
| G20315100 | ALF | CENTURION ACQUISITION CORP | $12.4M | 1.49% | 1,175,000 | Common | SOLE |
| 29259W700 | EU | ENCORE ENERGY CORP | $10.9M | 1.32% | 3,819,501 | Common | SOLE |
| G81354105 | SBXD | SILVERBOX CORP IV | $10.7M | 1.29% | 980,000 | Common | SOLE |
| G43658106 | IMSR | HCM II ACQUISITION CORP | $10.7M | 1.28% | 962,068 | Common | SOLE |
| G5501C109 | CUB | LIONHEART HOLDINGS | $10.3M | 1.24% | 980,000 | Common | SOLE |
| G8431T101 | SIMA | SIM ACQUISITION CORP. I | $10.2M | 1.23% | 980,000 | Common | SOLE |
| G4375F108 | HYAC | HAYMAKER ACQUISITION CORP IV | $10.0M | 1.20% | 900,000 | Common | SOLE |
| G1827K107 | CEPO | CANTOR EQUITY PARTNERS I INC | $9.5M | 1.14% | 797,691 | Common | SOLE |
| 91688R108 | URG | UR-ENERGY INC | $9.5M | 1.14% | 9,004,744 | Common | SOLE |
| 46500E867 | ISOU | ISOENERGY LTD | $8.7M | 1.05% | 661,649 | Common | SOLE |
| 292671708 | UUUU | ENERGY FUELS INC | $8.7M | 1.05% | 1,513,925 | Common | SOLE |
| G4036C106 | GRAF | GRAF GLOBAL CORP | $8.7M | 1.04% | 830,000 | Common | SOLE |
| G1827P106 | CEPT | CANTOR EQUITY PARTNERS II IN | $8.3M | 1.00% | 750,000 | Common | SOLE |
| G1828A108 | CAEP | CANTOR EQUITY PARTNERS III I | $7.9M | 0.95% | 750,000 | Common | SOLE |
| G6858G123 | OBAWU | OXLEY BRIDGE ACQ LTD | $7.5M | 0.90% | 750,000 | Common | SOLE |
| G7117W123 | PACHU | PIONEER ACQUISITION I CORP | $7.5M | 0.90% | 750,000 | Common | SOLE |
| 099724106 | BWA | BORGWARNER INC | $7.4M | 0.89% | 221,985 | Common | SOLE |
| G4002F117 | GTENU | GORES HLDGS X INC | $7.3M | 0.87% | 700,000 | Common | SOLE |
| G26745102 | POLE | ANDRETTI ACQUISITION CORP II | $6.0M | 0.72% | 580,000 | Common | SOLE |
| 12664M103 | NOEM | CO2 ENERGY TRANSITION CORP | $5.9M | 0.71% | 590,000 | Common | SOLE |
| 09173B107 | 1B2 | BITFARMS LTD | $5.5M | 0.67% | 6,602,098 | Common | SOLE |
| G3473K126 | FIGXU | FIGX CAP ACQUISITION CORP. | $5.0M | 0.60% | 500,000 | Common | SOLE |
| G5S87A105 | LPBB | LAUNCH TWO ACQUISITION CORP. | $5.0M | 0.60% | 480,000 | Common | SOLE |
| G3730H106 | CCIR | COHEN CIRCLE ACQUISITION COR | $5.0M | 0.60% | 454,576 | Common | SOLE |
| G6439S109 | NTWO | NEWBURY STR II ACQUISITION C | $4.6M | 0.56% | 450,000 | Common | SOLE |
| 668771116 | GENVR | GEN DIGITAL INC | $4.3M | 0.52% | 542,308 | Common | SOLE |
| G8316B100 | SPKL | SPARK I ACQUISITION CORP | $3.8M | 0.46% | 350,000 | Common | SOLE |
| G9008W121 | TDACU | TRANSLATIONAL DEV ACQUISITIO | $3.6M | 0.44% | 350,000 | Common | SOLE |
| G6375R107 | NESR | NATIONAL ENERGY SERVICES REU | $3.6M | 0.44% | 601,357 | Common | SOLE |
| 22717L101 | CRON | CRONOS GROUP INC | $3.2M | 0.39% | 1,686,382 | Common | SOLE |
| 74319B502 | PROF | PROFOUND MED CORP | $2.9M | 0.35% | 490,859 | Common | SOLE |
| G8475V129 | SVCCU | STELLAR V CAP CORP | $2.9M | 0.35% | 280,000 | Common | SOLE |
| G93A7H104 | VACH | VOYAGER ACQUISITION CORP | $2.6M | 0.31% | 250,000 | Common | SOLE |
| G5490M118 | LWACU | LIGHTWAVE ACQUISITION CORP | $2.5M | 0.30% | 250,000 | Common | SOLE |
| G1331A124 | BACCU | BLUE ACQUISITION CORP. | $2.5M | 0.30% | 250,000 | Common | SOLE |
| 37045V100 | GM | GENERAL MTRS CO | $2.1M | 0.25% | 42,750 | Common | SOLE |
| G6486E128 | NHICU | NEWHOLD INVT CORP III | $2.1M | 0.25% | 200,000 | Common | SOLE |
| G6861F120 | OYSEU | OYSTER ENTERPRISES II ACQUIS | $2.0M | 0.24% | 200,000 | Common | SOLE |
| G1368E122 | BLUWU | BLUE WTR ACQUISITION CORP. I | $2.0M | 0.24% | 200,000 | Common | SOLE |
| G6375R115 | NESRW | NATIONAL ENERGY SERVICES REU | $2.0M | 0.24% | 3,595,203 | Common | SOLE |
| G3852D123 | GSHRU | GESHER ACQUISITION CORP. II | $1.8M | 0.22% | 175,000 | Common | SOLE |
| G63212115 | MBAVW | M3BRIGADE ACQUISITION V CORP | $1.4M | 0.17% | 787,500 | Common | SOLE |
| G04537117 | ATIIU | ARCHIMEDES TECH SPAC PARTNER | $1.3M | 0.15% | 125,000 | Common | SOLE |
| G1069P137 | BSAAU | BEST SPAC I ACQUISITION CORP | $1.3M | 0.15% | 125,000 | Common | SOLE |
| 91733P115 | USAR | USA RARE EARTH INC | $1.2M | 0.14% | 500,000 | Common | SOLE |
| G43658122 | IMSRW | HCM II ACQUISITION CORP | $1.2M | 0.14% | 490,000 | Common | SOLE |
| G7257A113 | PCAPU | PROCAP ACQUISITION CORP | $1.1M | 0.13% | 100,000 | Common | SOLE |
| G5451A103 | LEGT | LEGATO MERGER CORP III | $1.1M | 0.13% | 100,000 | Common | SOLE |
| 143130102 | KMX | CARMAX INC | $1.0M | 0.13% | 15,615 | Common | SOLE |
| 256827783 | DVS | DOLLY VARDEN SILVER CORP | $669,970 | 0.08% | 108,000 | Common | SOLE |
| G3730H114 | CCIR | COHEN CIRCLE ACQUISITION COR | $653,332 | 0.08% | 326,666 | Common | SOLE |
| H5870P110 | OCSAW | OCULIS HOLDING AG | $626,801 | 0.08% | 73,525 | Common | SOLE |
| G5212E105 | — | JVSPAC ACQUISITION CORP | $418,600 | 0.05% | 115,000 | Common | SOLE |
| 926711300 | QXL | VIEWBIX INC | $407,142 | 0.05% | 115,995 | Common | SOLE |
| 14161Y200 | CRDL | CARDIOL THERAPEUTICS INC | $398,556 | 0.05% | 293,056 | Common | SOLE |
| G81354121 | SBXD/WS | SILVERBOX CORP IV | $391,967 | 0.05% | 326,666 | Common | SOLE |
| G20315118 | ALFUW | CENTURION ACQUISITION CORP | $371,250 | 0.04% | 1,237,500 | Common | SOLE |
| G5501C117 | CUBWW | LIONHEART HOLDINGS | $336,699 | 0.04% | 990,000 | Common | SOLE |
| G4035N129 | GPATW | GP-ACT III ACQUISITION CORP | $321,625 | 0.04% | 1,037,500 | Common | SOLE |
| G21301117 | CCIXW | CHURCHILL CAPITAL CORP IX | $320,659 | 0.04% | 337,500 | Common | SOLE |
| 092915115 | BZAIW | BLAIZE HLDGS INC | $288,150 | 0.03% | 750,000 | Common | SOLE |
| G8431T119 | SIMAW | SIM ACQUISITION CORP. I | $270,963 | 0.03% | 990,000 | Common | SOLE |
| G5S86M126 | LPAAW | LAUNCH ONE ACQUISITION CORP | $267,300 | 0.03% | 990,000 | Common | SOLE |
| 91733P107 | USAR | USA RARE EARTH INC | $260,729 | 0.03% | 23,800 | Common | SOLE |
| X3R81D110 | AFRIW | FORAFRIC GLOBAL PLC | $238,694 | 0.03% | 518,900 | Common | SOLE |
| G5S87A113 | LPBBW | LAUNCH TWO ACQUISITION CORP. | $226,429 | 0.03% | 490,000 | Common | SOLE |
| G5568L109 | LZM | LIFEZONE METALS LIMITED | $200,100 | 0.02% | 48,568 | Common | SOLE |
| G75398118 | RZLVW | REZOLVE AI PLC | $199,975 | 0.02% | 250,000 | Common | SOLE |
| 83548R402 | HOTRUSD | SONNET BIOTHERAPEUTC HLDNG I | $165,652 | 0.02% | 133,590 | Common | SOLE |
| G4375F116 | — | HAYMAKER ACQUISITION CORP IV | $162,000 | 0.02% | 450,000 | Common | SOLE |
| G4992A136 | JACS-R | JACKSON ACQUISITION CO II | $140,000 | 0.02% | 500,000 | Common | SOLE |
| G2662B111 | CRMLW | CRITICAL METALS CORP | $136,860 | 0.02% | 300,000 | Common | SOLE |
| 29103K118 | FLDDW | FOLD HLDGS INC | $124,250 | 0.01% | 175,000 | Common | SOLE |
| G4036C122 | GRAF/WS | GRAF GLOBAL CORP | $120,433 | 0.01% | 415,000 | Common | SOLE |
| M0740A116 | DRTSW | ALPHA TAU MEDICAL LTD | $107,474 | 0.01% | 447,622 | Common | SOLE |
| 12664M129 | NOEMR | CO2 ENERGY TRANSITION CORP | $103,250 | 0.01% | 590,000 | Common | SOLE |
| G5212E113 | — | JVSPAC ACQUISITION CORP | $100,050 | 0.01% | 115,000 | Common | SOLE |
| G1152A120 | FUFUW | BITFUFU INC | $99,825 | 0.01% | 330,000 | Common | SOLE |
| G63369113 | MRNOW | MURANO GLOBAL INVTS PLC | $97,500 | 0.01% | 500,000 | Common | SOLE |
| 80401C118 | SATLW | SATELLOGIC INC | $71,666 | 0.01% | 166,666 | Common | SOLE |
| 020952115 | AMODW | ALPHA MODUS HLDGS INC | $65,268 | 0.01% | 588,000 | Common | SOLE |
| 73245B115 | SBCWW | SBC MED GROUP HLDGS INC | $63,723 | 0.01% | 330,000 | Common | SOLE |
| G26745128 | POLEW | ANDRETTI ACQUISITION CORP II | $58,000 | 0.01% | 290,000 | Common | SOLE |
| 91702V101 | UROY | URANIUM RTY CORP | $57,060 | 0.01% | 22,824 | Common | SOLE |
| G6439S117 | NTWOW | NEWBURY STR II ACQUISITION C | $56,250 | 0.01% | 225,000 | Common | SOLE |
| 12664M111 | NOEMW | CO2 ENERGY TRANSITION CORP | $53,100 | 0.01% | 590,000 | Common | SOLE |
| 01861F110 | AENTW | ALLIANCE ENTERTAINMENT HOLDI | $52,920 | 0.01% | 294,000 | Common | SOLE |
| 63911H116 | KITTW | NAUTICUS ROBOTICS INC | $49,400 | 0.01% | 500,000 | Common | SOLE |
| 88165K119 | TVGNW | TEVOGEN BIO HLDGS INC | $45,435 | 0.01% | 650,000 | Common | SOLE |
| G93A7H112 | VACHW | VOYAGER ACQUISITION CORP | $37,488 | 0.00% | 125,000 | Common | SOLE |
| 93042P109 | PETXQ | WAG GROUP CO | $35,534 | 0.00% | 153,695 | Common | SOLE |
| G8316B118 | SPKLW | SPARK I ACQUISITION CORP | $34,055 | 0.00% | 175,000 | Common | SOLE |
| 95758L115 | CYCUW | CYCURION INC | $30,000 | 0.00% | 500,000 | Common | SOLE |
| 68218J111 | OABIW | OMNIAB INC | $27,407 | 0.00% | 158,333 | Common | SOLE |
| G5568L117 | LZM/WS | LIFEZONE METALS LIMITED | $27,016 | 0.00% | 69,810 | Common | SOLE |
| 53271X116 | LIMNW | LIMINATUS PHARMA INC. | $26,808 | 0.00% | 111,745 | Common | SOLE |
| 182744110 | KIDZW | CLASSOVER HLDGS INC | $24,938 | 0.00% | 187,500 | Common | SOLE |
| 351665112 | FOXXW | FOXX DEV HLDGS INC | $22,400 | 0.00% | 160,000 | Common | SOLE |
| M6000J127 | HUBCW | HUB CYBER SECURITY LTD | $22,205 | 0.00% | 898,991 | Common | SOLE |
| G3016G103 | ELPW | ELONG POWER HOLDING LTD. | $20,811 | 0.00% | 23,670 | Common | SOLE |
| G27617110 | FASWF | DIGIASIA CORP | $19,960 | 0.00% | 400,000 | Common | SOLE |
| 92919Y110 | VSEEW | VSEE HEALTH INC | $17,750 | 0.00% | 500,000 | Common | SOLE |
| G0232F133 | ALCWF | ALCHEMY INVTS ACQUISITN CORP | $16,935 | 0.00% | 150,000 | Common | SOLE |
| 93042P117 | PETXQ | WAG GROUP CO | $15,612 | 0.00% | 975,750 | Common | SOLE |
| 000847111 | ABPWW | ABPRO HLDGS INC | $13,972 | 0.00% | 675,000 | Common | SOLE |
| G5451A111 | LEGT/WS | LEGATO MERGER CORP III | $13,500 | 0.00% | 50,000 | Common | SOLE |
| 40472A128 | EONR/WS | EON RESOURCES INC | $13,158 | 0.00% | 257,500 | Common | SOLE |
| 98944F117 | ZEOWW | ZEO ENERGY CORP | $12,497 | 0.00% | 195,575 | Common | SOLE |
| 74449F118 | PBMWW | PSYENCE BIOMEDICAL LTD | $12,180 | 0.00% | 600,000 | Common | SOLE |
| G0411D115 | APLMW | APOLLOMICS INC | $11,075 | 0.00% | 250,000 | Common | SOLE |
| M9607U107 | VLN/WS | VALENS SEMICONDUCTOR LTD | $11,046 | 0.00% | 214,067 | Common | SOLE |
| G0544E113 | NIVFW | NEWGENIVF GROUP LIMITED | $9,975 | 0.00% | 375,000 | Common | SOLE |
| 26145B114 | DFLIW | DRAGONFLY ENERGY HOLDINGS CO | $9,382 | 0.00% | 675,000 | Common | SOLE |
| 71902K113 | CEROW | CERO THERAPEUTICS HLDGS INC | $8,925 | 0.00% | 375,000 | Common | SOLE |
| 06682J118 | BNZIW | BANZAI INTERNATIONAL INC | $8,740 | 0.00% | 352,409 | Common | SOLE |
| G52443127 | KVACW | KEEN VISION ACQUISITION CORP | $8,100 | 0.00% | 150,000 | Common | SOLE |
| 171756117 | DAICW | CID HOLDCO INC | $7,900 | 0.00% | 100,000 | Common | SOLE |
| G7606H116 | RDZNW | ROADZEN INC | $7,665 | 0.00% | 150,000 | Common | SOLE |
| 20678X114 | CDTTW | CONDUIT PHARMACEUTICALS INC | $7,630 | 0.00% | 700,000 | Common | SOLE |
| 456948116 | MSAIW | MULTISENSOR AI HOLDINGS INC | $5,661 | 0.00% | 175,250 | Common | SOLE |
| 08178Q119 | BENFW | BENEFICIENT | $5,175 | 0.00% | 750,000 | Common | SOLE |
| G3R95P116 | OIOWW | ESGL HLDGS LTD | $4,797 | 0.00% | 154,750 | Common | SOLE |
| G38617117 | GIBOW | GIBO HOLDINGS LTD. | $4,350 | 0.00% | 125,000 | Common | SOLE |
| G38617109 | — | GIBO HOLDINGS LTD. | $3,650 | 0.00% | 25,000 | Common | SOLE |
| G1331C112 | BGLWW | BLUE GOLD LTD | $2,375 | 0.00% | 12,500 | Common | SOLE |
| G8267K117 | SMXWW | SMX SEC MATTERS PLC | $1,875 | 0.00% | 125,000 | 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.