DaveManuel.com · Institutional Ownership · 13F Holdings

Radcliffe Capital Management, L.P.

Reported holdings as of Q2 2026, from 31 quarterly filings.

CIK

1218275

Reported value

$1.3B

Positions

450

Top 10 weight

23.0%

Filed

2026-08-14

Days after quarter end

Holdings

Download these holdings as CSV

Security	Ticker	Value	Shares	Weight	Weight change	Held	Change
Teladoc 1.250 01-Jun-		$60.4M	62,250,000	4.59%	-3.69pp	11q	DEBT
Enphase Energy 0.000 01-Mar-2028		$46.1M	49,639,000	3.51%	+0.20pp	9q	DEBT
FIVE9 INC		$38.5M	43,506,000	2.93%	+0.10pp	4q	DEBT
ETSY INC		$36.5M	40,000,000	2.78%	+0.23pp	10q	DEBT
Rapid7 0 - 0.25 up 30		$35.0M	36,500,000	2.66%	-	new	DEBT
DEXCOM INC		$24.2M	26,000,000	1.84%	+0.05pp	4q	DEBT
GLADSTONE CAP CORP		$20.6M	21,400,000	1.56%	+0.06pp	4q	DEBT
DATADOG INC		$14.2M	10,000,000	1.08%	+0.72pp	2q	DEBT
Ares Acquisition Corp Iii Unit 99/99/9999	AACU	$14.0M	1,393,343	1.06%	-	new	NEW
BERTO ACQUISITION CORP II	GUACU	$13.2M	1,300,000	1.00%	-	new	NEW
D BORAL ACQUISITION I CORP	DBCA	$12.7M	1,275,715	0.97%	+0.02pp	2q	HELD
EQV VENTURES AC CORP. II O	EVAC	$9.3M	910,862	0.70%	+0.02pp	4q	HELD
COINBASE GLOBAL INC		$9.0M	10,000,000	0.68%	+0.26pp	6q	DEBT
Snowflake 0.000 01-Oct-2029		$8.8M	5,000,000	0.67%	-	new	DEBT
CH4 NATURAL SOLUTIONS CORP	MTNEU	$8.0M	798,500	0.61%	-	new	NEW
MESHFLOW ACQUISITION CORP	MESH	$7.8M	775,000	0.59%	+0.02pp	2q	HELD
WEN ACQUISITION CORP	WENN	$7.6M	742,039	0.58%	+0.02pp	4q	+0.8%+$59.7K
Aldabra 4 Liquidity Opportunity Vehicle Inc	ALOV	$7.5M	750,000	0.57%	+0.01pp	2q	HELD
AKAMAI TECHNOLOGIES INC		$7.3M	5,000,000	0.55%	-	new	DEBT
HCM III ACQUISITION CORP O	HCMA	$7.2M	703,404	0.55%	+0.02pp	4q	HELD
EVOLUTION GLOBAL ACQUISITION	EVOX	$7.2M	720,988	0.55%	+0.01pp	3q	HELD
SIDDHI ACQUISITION CORP C	SDHI	$7.2M	693,837	0.55%	+0.01pp	5q	HELD
JACKSON ACQUISITION CO II COM SHS CL A	JACS	$7.2M	675,001	0.55%	+0.01pp	5q	HELD
ARTIUS II ACQUISITION INC	AACB	$7.1M	678,671	0.54%	+0.02pp	5q	HELD
CSLM DIGIT	KOYN	$7.1M	701,739	0.54%	+0.01pp	4q	HELD
K&F GROWTH ACQUISITION CORP	KFII	$7.1M	671,808	0.54%	+0.01pp	5q	HELD
NEW PROVID	NPAC	$6.9M	665,376	0.53%	+0.01pp	4q	HELD
GORES HLDGS X INC	GTEN	$6.9M	657,563	0.52%	+0.02pp	5q	HELD
SOULPOWER	SOUL	$6.8M	655,635	0.52%	+0.01pp	5q	HELD
APEX TREAS	APXT	$6.8M	675,000	0.52%	+0.01pp	3q	HELD
ALUSSA ENERGY ACQUISIT CORP	ALUB	$6.8M	675,000	0.52%	+0.01pp	2q	HELD
M3-BRIGADE ACQUISITION VI CO ORD SH	MBVI	$6.8M	668,807	0.52%	+0.03pp	3q	+4.7%+$303.5K
TRAILBLAZER ACQUISITION CORP ORD SH	BLZR	$6.7M	662,271	0.51%	+0.03pp	3q	+3.5%+$225.7K
BTC DEV CORP O	BDCI	$6.6M	653,362	0.50%	+0.01pp	3q	HELD
GIGCAPITAL8 CORP O	GIW	$6.5M	650,000	0.50%	+0.01pp	3q	HELD
Titan Acquisition Corp	TACH	$6.5M	625,012	0.49%	+0.01pp	5q	HELD
Pioneer Acquisition I Corp	PACH	$6.4M	629,549	0.49%	+0.01pp	4q	HELD
CRANE HBR ACQUISITION CORP I	CRAN	$6.4M	633,764	0.49%	+0.06pp	2q	+9.2%+$541.9K
OYSTER ENTERPRISES II ACQUIS ORD SH	OYSE	$6.4M	623,742	0.49%	+0.01pp	4q	HELD
GSR IV ACQUISITION CORP C	GSRF	$6.4M	629,669	0.49%	+0.01pp	3q	HELD
OXLEY BRID	OBA	$6.4M	625,296	0.49%	+0.01pp	4q	HELD
SILVERBOX CORP V	SBXE	$6.4M	635,093	0.49%	+0.01pp	2q	HELD
COHEN CIRC	CCII	$6.4M	618,077	0.48%	+0.01pp	4q	HELD
CLOUDFLARE INC		$6.3M	5,000,000	0.48%	-	new	DEBT
CANTOR EQU	CEPF	$6.3M	603,106	0.48%	+0.02pp	4q	HELD
LAFAYETTE DIGITAL ACQ CRP; TNT ACQ DT: 1/9/2028; CASH: $10.00	ZKP	$6.1M	615,000	0.47%	+0.01pp	2q	HELD
Iron Horse Acquisition II Corp	IRHO	$6.1M	607,182	0.46%	+0.01pp	2q	HELD
Gores Holdings Xi Inc Unit 06/24/2031	GHXIU	$6.1M	600,000	0.46%	-	new	NEW
CLEARTHINK 1 ACQUISITION COR	CTAA	$6.0M	610,000	0.46%	-	new	NEW
PROCAP ACQUISITION CORP	PCAP	$6.0M	586,055	0.46%	+0.05pp	4q	+9.9%+$541.7K
AMERICAN DRIVE ACQ CRP; TNT ACQ DT: 12/17/2027; CASH: $10.00	ADAC	$6.0M	600,000	0.46%	+0.01pp	2q	HELD
LAUNCHPAD CADENZA ACQU CORP	LPCV	$6.0M	600,000	0.46%	+0.01pp	2q	HELD
COPLEYACQUISITIONCORP	COPL	$6.0M	572,786	0.45%	+0.01pp	5q	HELD
TRG Latin America Acquisitions Corp	TRGS	$5.9M	600,000	0.45%	-	new	NEW
KRAKACQUISITION CORPORATION	KRAQ	$5.9M	587,686	0.45%	+0.03pp	2q	+4.5%+$251.2K
KOCHAV DEFENSE ACQUI CO	KCHV	$5.9M	566,346	0.45%	+0.01pp	4q	HELD
ETSY INC		$5.8M	5,000,000	0.44%	-	new	DEBT
DRUGS MADE IN AMER ACQ II CO	DMII	$5.8M	575,721	0.44%	+0.01pp	3q	HELD
LIGHTWAVE	LWAC	$5.8M	564,260	0.44%	+0.01pp	4q	HELD
AGRICULTURE & NAT SOL ACQ CO	ANSC	$5.8M	504,238	0.44%	+0.10pp	5q	+24.7%+$1.1M
X3 Acquisition Corp Ltd	XCBE	$5.8M	575,599	0.44%	+0.01pp	2q	HELD
JENA ACQUI	JENA	$5.7M	551,139	0.43%	+0.03pp	4q	+3.3%+$181.0K
HIGHVIEW MERGER CORP O	HVMC	$5.7M	556,664	0.43%	+0.02pp	3q	+2.6%+$142.8K
TALON CAP CORP O	TLNC	$5.6M	545,386	0.43%	+0.02pp	3q	+2.8%+$154.7K
CAL REDWOOD ACQUISITION COR	CRAQ	$5.6M	545,628	0.43%	+0.01pp	5q	HELD
REPUBLIC DIGITAL ACQUISITION	RDAG	$5.6M	543,393	0.43%	+0.18pp	4q	+72.1%+$2.3M
AXIOM INTELLIGENCE AC CORP 1 ORD SH	AXIN	$5.6M	541,826	0.43%	+0.01pp	4q	-1.4%-$82.0K
GigCapital9 Corp	GIX	$5.6M	562,803	0.42%	+0.01pp	2q	HELD
COLOMBIER ACQUISITION CORP I	CLBR	$5.6M	544,639	0.42%	+0.04pp	2q	+5.7%+$298.7K
OTG Acquisition Corp I	OTGA	$5.6M	550,000	0.42%	+0.01pp	3q	HELD
BITCOIN IN	BIXI	$5.6M	556,079	0.42%	+0.01pp	3q	HELD
HARVARD AVE ACQUISITION CORP	HAVA	$5.6M	550,000	0.42%	+0.01pp	3q	HELD
FACT II ACQUISITION CORP ORD SHS CL A	FACT	$5.5M	521,872	0.42%	+0.01pp	4q	HELD
ROMAN DBDR ACQUISITION CORP	DRDB	$5.5M	525,266	0.42%	+0.01pp	5q	HELD
HALL CHADWICK ACQUISITION CO	HCAC	$5.5M	550,000	0.42%	+0.01pp	2q	HELD
BOLD EAGLE ACQUISITION CORP CL A	BEAG	$5.5M	516,815	0.42%	+0.03pp	5q	+3.6%+$191.9K
INVEST GREEN ACQUISITION COR CL A O	IGAC	$5.5M	550,000	0.42%	+0.01pp	3q	HELD
GENERAL PURPOSE ACQ CRP; TNT ACQ DT: 12/04/2027; CASH: $10.00	GPAC	$5.5M	550,000	0.42%	+0.01pp	2q	HELD
MICROCHIP TECHNOLOGY INC.		$5.5M	5,000,000	0.42%	+0.05pp	2q	DEBT
HENNESSY CAP INVT CORP VII	HVII	$5.5M	525,544	0.42%	+0.01pp	5q	HELD
EGH ACQUISITION CORP.	EGHA	$5.5M	532,637	0.42%	+0.01pp	4q	HELD
FUTURECREST ACQUISITION CORP CL A O	FCRS	$5.5M	531,949	0.42%	+0.10pp	3q	+27.6%+$1.2M
CAMBRIDGE ACQUISITION CORP	CAQ	$5.5M	550,000	0.41%	+0.01pp	2q	HELD
NEWHOLD INVT CORP III	NHIC	$5.4M	499,640	0.41%	-0.02pp	5q	-10.9%-$667.9K
PERIMETER ACQUISITION CORP I COM C	PMTR	$5.4M	521,525	0.41%	+0.15pp	4q	+54.1%+$1.9M
Insight Digital Partners II	DYOR	$5.4M	540,906	0.41%	+0.01pp	3q	HELD
Thayer Ventures Acquisition Corp II	TVAI	$5.4M	525,000	0.41%	+0.01pp	4q	HELD
SIZZLE ACQUISITION CORP. II	SZZL	$5.4M	517,768	0.41%	+0.01pp	5q	HELD
ITHAX ACQ CRP III; TNT ACQ DT: 12/12/2027; CASH: $10.00	ITHA	$5.2M	525,887	0.40%	+0.01pp	2q	HELD
ARCHIMEDES TECH SPAC PARTNER	ATII	$5.2M	478,061	0.39%	-0.13pp	5q	-27.7%-$2.0M
ANDRETTI ACQUISITION CORP II	POLE	$5.1M	478,678	0.39%	+0.01pp	5q	HELD
VIKING ACQUISITION CORP I O	VACI	$5.1M	501,616	0.39%	-0.04pp	3q	-12.8%-$750.0K
M EVO GBL ACQUISITION CORP I	MEVO	$5.1M	514,190	0.39%	+0.02pp	2q	+2.8%+$140.8K
ARCHIMEDES TECH SPAC PTNRS I	ARCI	$5.1M	504,673	0.38%	+0.08pp	2q	+21.8%+$904.7K
DROPBOX INC		$5.0M	5,000,000	0.38%	+0.03pp	13q	DEBT
EMMIS ACQUISITION CORP.	EMIS	$5.0M	499,126	0.38%	+0.01pp	3q	HELD
VINE HILL CAP INVTS CORP II	VHCP	$5.0M	504,364	0.38%	+0.11pp	2q	+38.3%+$1.4M
Tailwind 2.0 Acquisition Corp	TDWD	$5.0M	501,148	0.38%	+0.02pp	3q	+4.2%+$200.8K
SAFEGUARD ACQUISITION CORP	SAC	$5.0M	500,000	0.38%	+0.01pp	2q	HELD
KEYSTONE ACQUISITION CORP	KEYYU	$5.0M	499,900	0.38%	-	new	NEW
TWELVE SEAS ACQ CRP III; TNT ACQ DT: 12/12/2027; CASH: $10.00	TWLV	$5.0M	500,000	0.38%	+0.01pp	2q	HELD
FG IMPERII ACQUISITION CORP	FGII	$5.0M	500,000	0.38%	+0.01pp	2q	HELD
ILLUMINATION ACQUISITIO CORP	ILLU	$4.9M	499,184	0.38%	-	new	NEW
DIGITAL ASSET ACQUISITION CO	DAAQ	$4.9M	474,599	0.37%	+0.01pp	5q	HELD
BLUE WTR ACQUISITION CORP. I ORD SH	BLUW	$4.9M	475,000	0.37%	+0.01pp	4q	HELD
LONG TABLE GROWTH CORP	LTGRU	$4.9M	488,868	0.37%	-	new	NEW
HENNESSY CAP INVTS CORP VIII	HCIC	$4.8M	487,946	0.37%	+0.11pp	2q	+39.4%+$1.4M
ARMADA ACQUISITION CORP II COM CL A	XRPN	$4.8M	463,845	0.37%	+0.01pp	5q	-0.6%-$30.7K
PYROPHYTE ACQUISITION CORP.	PAII	$4.8M	467,558	0.36%	+0.02pp	4q	+4.8%+$219.3K
PLUM ACQUISITION CORP IV	PLMK	$4.8M	446,373	0.36%	+0.01pp	5q	-0.6%-$28.6K
ETSY INC		$4.7M	5,000,000	0.36%	-0.13pp	13q	DEBT
BLUE ACQUISITION CORP. O	BACC	$4.6M	436,900	0.35%	-0.05pp	4q	-16.3%-$904.5K
FIFTH ERA ACQUISITION CORP I ORD SH	FERA	$4.6M	443,395	0.35%	+0.01pp	5q	HELD
BLACKLINE INC		$4.6M	5,000,000	0.35%	flat	5q	DEBT
Kensington Cap Acquisition Unit 99/99/9999	KCAU	$4.6M	456,077	0.35%	-	new	NEW
MOUNTAIN LAKE ACQUISIT CORP	MLAA	$4.5M	458,116	0.35%	+0.05pp	2q	+13.4%+$537.6K
HCM IV ACQUISITION CORP	HACQ	$4.5M	452,832	0.35%	-	new	NEW
DYNAMIX CORP III	DNMX	$4.5M	450,776	0.34%	+0.03pp	3q	+5.9%+$250.4K
KPET ULTRA PACELINE CORP	KPET	$4.5M	446,898	0.34%	-	new	NEW
DUNEACQUISITIONCORPII	CCAQ	$4.4M	424,608	0.34%	+0.01pp	5q	HELD
NEWBURY STR II ACQUISITION COR ORD SHS CL A	NTWO	$4.4M	414,804	0.34%	+0.01pp	5q	HELD
RANGE CAP ACQUISITION CORP I CL A O	RNGT	$4.4M	434,513	0.33%	+0.05pp	3q	+13.8%+$531.4K
1RT ACQUIS	ONCH	$4.4M	425,732	0.33%	+0.04pp	4q	+10.5%+$413.0K
LAUNCH TWO ACQUISITION CORP.	LPBB	$4.3M	404,653	0.33%	+0.01pp	5q	HELD
AMERICAN EXCEPTIONALISM ACQU	AEXA	$4.3M	366,382	0.33%	+0.03pp	4q	HELD
Collective Acquisition Corp Unit 04/27/2031	CAIIU	$4.3M	425,000	0.32%	-	new	NEW
ARMADA ACQUISITION CORP III ORD SHS CL A	AACI	$4.3M	426,213	0.32%	+0.01pp	2q	HELD
RITHM ACQUISITION CORP	RAC	$4.2M	406,297	0.32%	+0.01pp	5q	HELD
BAIN CAP GSS INVT CORP	BCSS	$4.2M	412,365	0.32%	+0.07pp	3q	+21.8%+$759.1K
OAKTREE AC	OACC	$4.1M	387,222	0.32%	+0.01pp	5q	+1.2%+$51.1K
MUZERO ACQUISITION CORP	MUZE	$4.1M	416,337	0.31%	+0.02pp	2q	+4.0%+$158.3K
BERTO ACQUISITION CORP	TACO	$4.1M	392,553	0.31%	+0.03pp	5q	+5.6%+$218.1K
ALDEL FINL II INC CL A	ALDF	$4.1M	379,584	0.31%	+0.01pp	5q	HELD
SPRING VY ACQUISITION CORP I	SVIV	$4.0M	397,215	0.31%	+0.03pp	2q	+6.3%+$238.4K
NewHold Investment Corp IV	NHIV	$4.0M	403,464	0.31%	-	new	NEW
BLUEROCK ACQ CRP; TNT ACQ DT: 12/11/2027; CASH: $10.00	BLRK	$4.0M	400,431	0.30%	+0.01pp	2q	HELD
Social Commerce Partners Corp	SCPQ	$4.0M	399,861	0.30%	+0.01pp	2q	HELD
INTERPRIVATE INVTS PARTNERS	IPVVU	$4.0M	400,000	0.30%	-	new	NEW
IDEA ACQUISITION CORP	IACO	$4.0M	400,036	0.30%	-	new	NEW
COLUMBUS CIRCLE CAP CORP II	IPXG	$3.9M	380,791	0.29%	+0.04pp	2q	+11.1%+$385.2K
NMP Acquisition Corp	NMP	$3.8M	374,900	0.29%	+0.01pp	4q	HELD
RENATUS TACTICAL ACQUIS SHS CL A	RTAC	$3.8M	365,480	0.29%	+0.15pp	5q	+97.4%+$1.9M
VENDOME ACQUISITION CORP I C	VNME	$3.7M	365,418	0.28%	+0.01pp	4q	HELD
QDRO ACQUI	QADR	$3.7M	370,934	0.28%	-	new	NEW
BLACK SPADE ACQUISITION III	BIII	$3.7M	369,263	0.28%	+0.02pp	2q	+5.5%+$191.5K
GLOBA TERRA ACQUISITION COR	GTERA	$3.6M	350,000	0.27%	+0.01pp	4q	HELD
LEGATO MERGER CORP IV	LEGO	$3.6M	360,576	0.27%	+0.05pp	2q	+18.8%+$565.1K
ABONY ACQUISITION CORP I	AACO	$3.6M	361,159	0.27%	-	new	NEW
AA MISSION ACQUISITION CORP O	YCY	$3.6M	350,000	0.27%	+0.01pp	3q	HELD
MCKINLEY A	MKLY	$3.6M	350,000	0.27%	+0.01pp	3q	HELD
Futurecorp Space Acquisition Unit 99/99/9999	FTRAU	$3.5M	350,000	0.27%	-	new	NEW
CROWN RESV ACQUISITION CORP	CRAC	$3.5M	350,000	0.27%	+0.01pp	3q	HELD
GALATA ACQ	LATA	$3.5M	350,000	0.27%	+0.01pp	3q	HELD
ACTIVATE ENERGY ACQUISIT COR	AEAQ	$3.5M	352,465	0.27%	+0.01pp	2q	+1.3%+$44.9K
MOZAYYX ACQUISITION CORP	MZYX	$3.5M	350,800	0.27%	-	new	NEW
YORKVILLE INTL CAP CORP	YICCU	$3.5M	347,800	0.27%	-	new	NEW
AEON ACQUISITION I CORP	AESPU	$3.4M	341,359	0.26%	-	new	NEW
Xsolla SPAC 1	XSLL	$3.4M	342,939	0.26%	+0.01pp	2q	+2.6%+$86.8K
FIGX CAP A	FIGX	$3.4M	331,996	0.26%	+0.01pp	4q	HELD
JAB ACQUISITION CORP I	JABRU	$3.4M	337,400	0.26%	-	new	NEW
Solarius Capital Acquisition Corp	SOCA	$3.4M	328,299	0.26%	+0.01pp	4q	HELD
SILVER PEG	SPEG	$3.3M	318,618	0.25%	+0.01pp	4q	HELD
TEXASVENTURESACQUISITIONI	TVA	$3.2M	300,000	0.24%	-0.01pp	5q	-7.9%-$273.2K
RRE Ventures Acquisition Corp	RREV	$3.1M	318,596	0.24%	-	new	NEW
FORTRESS V	FVAV	$3.1M	309,610	0.24%	+0.01pp	2q	+3.3%+$101.0K
CANTOR EQUITY PARTNERS V INC	CEPV	$3.1M	300,741	0.24%	+0.03pp	3q	+9.6%+$272.0K
Infinite Eagle Acquisition Corp	IEAG	$3.1M	302,389	0.23%	+0.08pp	2q	+45.8%+$961.0K
CHENGHE ACQUISITION III CO	CHEC	$3.0M	300,000	0.23%	flat	3q	HELD
YORKVILLE ACQUISITION CORP.	MCGA	$3.0M	294,690	0.23%	+0.01pp	4q	HELD
RMG ML SPORTS HOLDINGS	SHOTU	$3.0M	300,000	0.23%	-	new	NEW
SNOW ROTHSCHILD ACQUISITION	ISNRU	$3.0M	299,172	0.23%	-	new	NEW
ONEIM ACQU	OIM	$3.0M	295,411	0.23%	+0.01pp	2q	HELD
IRIS ACQUISITION CORP II	IRAB	$3.0M	299,570	0.23%	+0.01pp	2q	HELD
TRANSLATIONAL DEV ACQUISITIO	TDAC	$2.9M	271,940	0.22%	-0.18pp	5q	-46.2%-$2.5M
GESHER ACQ	GSHR	$2.9M	278,459	0.22%	flat	5q	HELD
NEW AMER ACQUISITION I CORP COM	NWAX	$2.9M	285,033	0.22%	+0.10pp	2q	+84.1%+$1.3M
Praetorian Acquisition Corp	PTOR	$2.8M	281,839	0.21%	+0.09pp	2q	+68.4%+$1.1M
SUMA ACQUISITION CORP	SUMA	$2.8M	282,500	0.21%	-	new	NEW
AVERIN CAP ACQUISITION CORP	ACAA	$2.8M	278,958	0.21%	-	new	NEW
DAEDALUS SPL ACQUISITION COR	DSAC	$2.8M	272,608	0.21%	+0.01pp	2q	+1.2%+$33.9K
BLUE WTR ACQUISITION CORP IV	BWIV	$2.7M	275,100	0.21%	-	new	NEW
INFLECTION PT ACQUISITION CO	IPCX	$2.7M	262,641	0.21%	flat	4q	HELD
General Catalyst Gbl Resil M Unit 04/13/2031	GCGRU	$2.6M	251,324	0.20%	-	new	NEW
Spartacus Acquisition Corp II	TMTS	$2.6M	257,606	0.20%	-	new	NEW
INDIGO ACQ	INAC	$2.6M	250,000	0.19%	flat	4q	HELD
AI INFRASTRUCTURE ACQUISI	AIIA	$2.6M	250,000	0.19%	+0.01pp	3q	HELD
Silicon Valley Acquisition Corp	SVAQ	$2.5M	250,000	0.19%	+0.01pp	2q	HELD
GSR V ACQUISITION CORP	GSRVU	$2.5M	251,000	0.19%	-	new	NEW
FUTURE MONEY ACQUISITION COR	FMAC	$2.5M	250,000	0.19%	-	new	NEW
CHAMPIONSGATE ACQUISITION CO	CHPG	$2.5M	239,738	0.19%	+0.01pp	4q	HELD
MAYWOOD ACQ CRP II; TNT ACQ DT: 7/14/2027; CASH: $10.00	MYX	$2.5M	250,000	0.19%	-	new	NEW
SILVERBOX CORP IV	SBXDF	$2.5M	227,454	0.19%	flat	5q	HELD
STELLAR V	SVCC	$2.4M	231,967	0.19%	flat	4q	HELD
PATRIOT ACQUISITION CORP	PTACU	$2.4M	242,695	0.18%	-	new	NEW
ALPEX ACQUISITION CORP	ALPXU	$2.4M	241,784	0.18%	-	new	NEW
PONO CAP FOUR INC	PONO	$2.4M	237,034	0.18%	-	new	NEW
ENERGY TRANSITION SPL OPPORT	ETSS	$2.3M	230,830	0.17%	-	new	NEW
UNITED ACQUISITION CORP I	UAC	$2.3M	228,058	0.17%	+0.01pp	2q	+5.7%+$121.8K
TGE VALUE CREATIVE SOLUTIONS	BEBE	$2.2M	224,414	0.17%	flat	2q	HELD
KARBON CAP PARTNERS CORP	KBON	$2.2M	217,789	0.17%	+0.04pp	2q	+28.8%+$491.9K
LAKE SUPERIOR ACQUISITION CO	LKSP	$2.1M	210,000	0.16%	flat	3q	HELD
ART TECHNOLOGY ACQ CRP; TNT ACQ DT: 4/6/2028; CASH: $10.00	ARTC	$2.1M	213,494	0.16%	+0.06pp	2q	+59.0%+$786.9K
BLEICHROEDER ACQUISITI CORP	BBCQ	$2.1M	203,779	0.16%	-0.17pp	2q	-53.7%-$2.4M
WHITE PEARL ACQUISITION CORP	WPAC	$2.0M	203,530	0.16%	+0.01pp	2q	+1.8%+$35.4K
METALS ACQUISITION CORP II	MTAL	$2.0M	200,000	0.15%	-	new	NEW
Cantor Equity Partners VII Inc	CAES	$2.0M	200,000	0.15%	-	new	NEW
LAFAYETTE	LAFA	$2.0M	200,000	0.15%	flat	3q	HELD
DISCIPLINED GROWTH	DGACU	$2.0M	200,000	0.15%	-	new	NEW
TEXAS VENTURES ACQUISITION I	TVIVU	$2.0M	200,000	0.15%	-	new	NEW
Wilco 63 Corp	WLCOU	$2.0M	200,000	0.15%	-	new	NEW
APOGEE ACQ CRP; TNT ACQ DT: 7/07/2027; CASH: $10.05	AACP	$2.0M	199,500	0.15%	-	new	NEW
D. BORAL ARC ACQ I CORP.	BCAR	$2.0M	190,004	0.15%	-0.18pp	4q	-56.9%-$2.6M
ARC Group Acquisition I Corp	ARCL	$1.9M	195,000	0.15%	-	new	NEW
BREEZE ACQ CRP II; TNT ACQ DT: 5/13/2027; CASH: $10.03	BREZ	$1.9M	189,500	0.14%	-	new	NEW
HELIX ACQUISITION CORP III	HLXC	$1.9M	173,974	0.14%	+0.01pp	2q	+2.0%+$37.0K
MILUNA ACQUISITION CORP	MMTX	$1.8M	175,000	0.13%	flat	3q	HELD
LEAPFROG ACQUISITION CORP	LFAC	$1.8M	175,454	0.13%	+0.01pp	2q	+8.8%+$142.4K
Inflection Point Acquisition Corp VI	IPFX	$1.7M	166,990	0.13%	-	new	NEW
Willow Lane Acquisition Corp II	WLII	$1.7M	166,908	0.13%	-	new	NEW
StoneBridge Acquisition II Corp	APAC	$1.6M	160,000	0.12%	flat	3q	HELD
BLUEPORT ACQUISITION LTD	BPAC	$1.6M	159,322	0.12%	flat	2q	HELD
QUANTUMSPHERE ACQUISITION CO	QUMS	$1.5M	150,000	0.12%	flat	3q	HELD
K2 CAP ACQUISITION CORP	KTWO	$1.5M	153,168	0.12%	flat	2q	+2.1%+$31.5K
MOUNTAIN CREST ACQUISITION 6	MCAHU	$1.5M	150,000	0.12%	-	new	NEW
AMPERCAP ACQUISITION CO	APMCU	$1.5M	150,000	0.11%	-	new	NEW
Quantum Leap Acquisition Corp	QLEP	$1.5M	150,000	0.11%	-	new	NEW
SPACE ASSET ACQUISITION CORP	SAAQ	$1.5M	145,419	0.11%	+0.02pp	2q	+12.3%+$162.3K
MAGNITE INC	MGNI	$1.5M	77,400	0.11%	+0.01pp	6q	-31.1%-$664.3K
PALOMA ACQUISITION CORP I	PALO	$1.4M	142,816	0.11%	-	new	NEW
PLUTONIAN ACQUISITION CORP I	PLUNU	$1.4M	134,132	0.10%	-	new	NEW
STARRY SEA ACQUISITION CORP	SSEA	$1.3M	128,372	0.10%	flat	3q	HELD
CALISA ACQUISITION CORP	ALIS	$1.3M	125,000	0.10%	flat	3q	HELD
BURTECH ACQUISITION CORP II	BRKHU	$1.3M	125,000	0.10%	-	new	NEW
WEST ENCLAVE MERGER CORP	WENC	$1.2M	125,000	0.09%	-	new	NEW
INFLECTION POINT ACQU CORP V	IPEX	$1.2M	112,046	0.09%	flat	5q	HELD
Iron Dome Acquisition I Corp Unit 02/27/2031	IDACU	$1.2M	115,500	0.09%	-	new	NEW
FUTUREWAVE ACQUISITION CORP	FWACU	$1.2M	114,983	0.09%	-	new	NEW
RF ACQUISITION CORP III	RFAM	$1.1M	108,288	0.08%	+0.03pp	2q	+43.8%+$326.5K
RICE ACQUISITION CORP 3	KRSP	$1.1M	100,851	0.08%	-	new	NEW
SOREN ACQ CRP; TNT ACQ DT: 1/7/2028; CASH: $10.00	SORN	$1.1M	106,330	0.08%	+0.03pp	2q	+64.8%+$414.8K
LAKESHORE ACQUISITION III CO	LCCC	$1.0M	100,052	0.08%	flat	5q	HELD
WINTERGREEN ACQUISITION CORP	WTG	$1.0M	99,016	0.08%	flat	4q	HELD
IRENIC ACQUISITION CORP	IACQU	$1.0M	100,000	0.08%	-	new	NEW
WESTIN ACQUISITION CORP	WSTN	$1.0M	100,000	0.08%	flat	3q	HELD
SC ACQ CRP II; TNT ACQ DT: 5/25/2027; CASH: $10.00	SCII	$1.0M	100,000	0.08%	flat	2q	HELD
CARTESIAN GROWTH CORP IV	CGCFU	$1.0M	100,000	0.08%	-	new	NEW
Newbridge Acquisition Ltd	NBRG	$998.5K	100,000	0.08%	-	new	NEW
GALAXYEDGE ACQUISITION CORP	GLED	$994.0K	100,000	0.08%	-	new	NEW
QuasarEdge Acquisition Corp	QRED	$993.0K	100,000	0.08%	-	new	NEW
Shreya Acquisition Group	SAGU	$989.0K	100,000	0.08%	-	new	NEW
ACP Holdings Acquisition Corp	ACGC	$987.5K	99,351	0.08%	-	new	NEW
CANTOR EQUITY PARTNERS VI IN	CEPS	$969.1K	93,456	0.07%	+0.04pp	2q	+86.8%+$450.3K
CHURCHILL CAP CORP XII	CXIIU	$965.1K	89,360	0.07%	-	new	NEW
CHARLTONARIAACQUISITIONCO	CHAR	$811.3K	75,151	0.06%	flat	4q	HELD
FORTUNEX ACQUISITION CORP	FXACU	$801.0K	79,702	0.06%	-	new	NEW
FIVE9 INC	FIVN	$799.5K	37,500	0.06%	-0.04pp	4q	-55.9%-$1.0M
SPACSphere Acquisition Corp	SSAC	$748.5K	75,000	0.06%	flat	2q	HELD
Proem Acquisition Corp I	PAAC	$629.0K	63,281	0.05%	-	new	NEW
LAUNCH ONE ACQUISITION CORP	LPAA	$606.0K	55,905	0.05%	flat	4q	HELD
DYNAMIX CORP SHS CL A	DYNC	$586.0K	54,312	0.04%	-0.03pp	5q	-40.4%-$397.9K
BHAV Acquisition Corp	BHAV	$496.5K	50,000	0.04%	-	new	NEW
GODADDY INC	GDDY	$415.9K	4,900	0.03%	+0.01pp	2q	+32.4%+$101.9K
CO2 Energy Transition Corp	NOEM	$316.2K	30,291	0.02%	flat	4q	HELD
XFLH Capital Corp	XFLH	$291.3K	29,216	0.02%	flat	2q	HELD
TELADOC HEALTH INC	TDOC	$268.8K	31,700	0.02%	-0.06pp	5q	-84.3%-$1.4M
D Boral Acquisition I Corp	DBCAW	$255.7K	638,164	0.02%	+0.01pp	2q	HELD
VERRA MOBILITY CORP	VRRM	$208.2K	49,000	0.02%	-0.05pp	3q	-16.9%-$42.5K
Gigcapital8 Corp Right 09/30/2030	GIWWR	$164.9K	550,000	0.01%	flat	3q	HELD
Evolution Global Acquisition Corp	EVOXW	$161.8K	382,993	0.01%	flat	3q	HELD
Hall Chadwick Acquisition Co Right 11/20/2030	HCACR	$155.4K	550,000	0.01%	flat	2q	HELD
GORES HLDGS X INC	GTENW	$151.3K	164,415	0.01%	flat	5q	HELD
American Drive Acquisition Co	ADACW	$146.2K	199,998	0.01%	+0.01pp	2q	HELD
Axiom Intelligence Ac Corp 1 Right 06/10/2030	AXINR	$142.8K	379,615	0.01%	+0.01pp	4q	-7.1%-$11.0K
Safeguard Acquisition Corp	SACWS	$142.5K	250,000	0.01%	flat	2q	HELD
Clearthink 1 Acquisition Cor Right 01/26/2031	CTAAR	$140.3K	610,000	0.01%	-	new	NEW
Columbus Circle Capital Corp II	IPXGW	$140.3K	107,065	0.01%	+0.01pp	2q	-1.8%-$2.6K
HCM III Acquisition Corp	HCMAW	$139.0K	191,665	0.01%	flat	4q	HELD
CAL REDWOOD ACQUISITION CORP	CRAQR	$137.9K	503,394	0.01%	flat	5q	HELD
Talon Capital Corp	TLNCW	$135.2K	176,747	0.01%	flat	3q	HELD
KENSINGTON CP A VI CL 1 EQY WARRANTS	KCACWS	$131.6K	111,555	0.01%	-	new	NEW
GSR IV ACQUISITION CORP	GSRFR	$129.6K	57,709	0.01%	flat	3q	HELD
Crane Hbr Acquisition Corp I Right 12/09/2030	CRANR	$121.7K	507,270	0.01%	flat	2q	HELD
Social Commerce Partners Corp	SCPQW	$121.0K	199,929	0.01%	flat	2q	HELD
EQV Ventures Acquisition Corp II	EVACWS	$117.9K	266,665	0.01%	flat	4q	HELD
OTG Acquisition I Corp	OTGAW	$113.0K	275,000	0.01%	flat	3q	HELD
Jena Acquisition Corp Ii Right 03/31/2030	JENART	$111.7K	544,782	0.01%	flat	4q	HELD
Invest Green Acquisition Cor Right 11/17/2030	IGACR	$110.0K	550,000	0.01%	flat	3q	HELD
ALDABRA 4 LQDTY OPTY VH EQY WARRANTS	ALOVW	$108.8K	249,999	0.01%	flat	2q	HELD
Trg Latin Amer Acquis Corp Right 02/20/2031	TRGSR	$108.0K	600,000	0.01%	-	new	NEW
COLLECTIVE ACQUISITION CORP	CCAQW	$106.4K	262,724	0.01%	flat	5q	+24.9%+$21.2K
ORIGIN INVT CORP I	ORIQ	$105.5K	10,232	0.01%	flat	3q	HELD
Kochav Defense Acqui Co Right 05/21/2030	KCHVR	$103.8K	500,000	0.01%	flat	4q	HELD
Gigcapital9 Corp Right 12/01/2030	GIXXR	$103.2K	362,114	0.01%	flat	2q	HELD
Apex Treasury Corp	APXTW	$97.2K	298,983	0.01%	flat	3q	HELD
IRON HORSE ACQUISIT II CORP	IRHOR	$97.0K	604,519	0.01%	flat	2q	HELD
M Evo Global Acquisition Corp II	MEVOW	$96.2K	250,000	0.01%	flat	2q	HELD
Alussa Energy Acquisition Corp II	ALUBWS	$94.5K	224,999	0.01%	flat	2q	HELD
Highview Merger Corp	HVMCW	$94.5K	266,099	0.01%	flat	3q	HELD
THAYER VENTURES ACQ CORP II	TVAIR	$94.0K	536,883	0.01%	flat	4q	HELD
COHEN CIRCLE ACQUISIT CORP I	CCIIW	$92.7K	123,600	0.01%	flat	4q	HELD
Newhold Investment Corp IV	NHIVW	$92.1K	134,487	0.01%	-	new	NEW
Spring Valley Acquisition Corp IV	SVIVW	$89.1K	91,248	0.01%	flat	2q	HELD
SilverBox Corp V	SBXEWS	$87.9K	211,665	0.01%	flat	2q	HELD
SILVER PEGASUS ACQUISITION C	SPEGR	$87.2K	329,218	0.01%	flat	4q	HELD
SIDDHI ACQUISITION CORP	SDHIR	$86.8K	377,295	0.01%	flat	5q	HELD
Silicon Valley Acquisition Corp	SVAQW	$86.1K	109,800	0.01%	flat	2q	-12.2%-$11.9K
Egh Acquisition Corp. Right 99/99/9999	EGHAR	$85.5K	227,752	0.01%	flat	4q	-14.3%-$14.2K
CSLM DIGITA ASSET ACQ CORP I	KOYNW	$85.2K	374,286	0.01%	flat	4q	HELD
ARMADA ACQUISITION CORP II	XRPNW	$81.5K	99,984	0.01%	flat	5q	-51.7%-$87.2K
BLUE WTR ACQUISITION CORP. I	BLUWW	$81.3K	196,799	0.01%	flat	4q	HELD
Bitcoin Infrastructure Acquisition Corp Ltd	BIXIW	$80.5K	278,039	0.01%	flat	3q	HELD
ILLUMINATION ACQUISITIO CORP	ILLUW	$79.9K	166,393	0.01%	-	new	NEW
Trailblazer Acquisition Corp	BLZRW	$78.6K	178,346	0.01%	flat	3q	HELD
Suma Acquisition Corp Right 03/05/2031	SUMAR	$78.2K	275,500	0.01%	-	new	NEW
Twelve Seas Invt Co Iii Right 11/21/2030	TWLVR	$77.5K	500,000	0.01%	flat	2q	HELD
General Purpose Acquisition Corp	GPACW	$77.0K	275,000	0.01%	flat	2q	HELD
X3 Acquisition Corp Ltd	XCBEW	$75.8K	275,000	0.01%	flat	2q	HELD
LightWave Acquisition Corp	LWACW	$75.7K	250,000	0.01%	flat	4q	HELD
HARVARD AVE ACQUISITION CORP	HAVAR	$75.7K	550,000	0.01%	flat	3q	HELD
MCKINLEY ACQUISITION CORP	MKLYR	$75.2K	350,000	0.01%	flat	3q	HELD
Metals Acquisition Corp II	MTALWS	$75.0K	66,665	0.01%	-	new	NEW
Launchpad Cadenza Acquisition Corp I	LPCVW	$75.0K	199,998	0.01%	flat	2q	HELD
M3-BRIGADE ACQUISITION VI CO	MBVIW	$74.7K	191,665	0.01%	flat	3q	HELD
Oyster Enterprises Ii Acquis Right 05/22/2030	OYSER	$74.4K	551,079	0.01%	flat	4q	HELD
NMP ACQUISITION CORP	NMPAR	$74.1K	375,000	0.01%	flat	4q	HELD
MESHFLOW ACQUISITION CO-CL A WRNT 9/16/2030	MESHW	$72.7K	249,800	0.01%	flat	2q	HELD
MOUNTAIN LAKE ACQUISIT CORP	MLAAW	$71.6K	251,890	0.01%	flat	2q	HELD
FG Imperii Acquisition Corp	FGIIW	$69.9K	250,000	0.01%	flat	2q	HELD
Hennessy Capital Investment Corp. VIII	HCICR	$69.4K	404,500	0.01%	flat	2q	+15.6%+$9.3K
Berto Acquisition Corp	TACOW	$69.0K	93,872	0.01%	flat	5q	+256.3%+$49.6K
ITHAX ACQUISITION CORP III WARRANTS	ITHAW	$68.5K	262,943	0.01%	flat	2q	HELD
KRAKacquisition Corp	KRAQW	$68.2K	140,641	0.01%	flat	2q	HELD
Emmis Acquisition Corp. Right 09/12/2030	EMISR	$68.2K	487,217	0.01%	flat	3q	HELD
ARMADA ACQUISITION III EQY WARRANT	AACIW	$67.6K	212,929	0.01%	flat	2q	HELD
RANGE CAP ACQUISITION CORP I	RNGTW	$64.1K	180,299	0.00%	flat	3q	HELD
Tailwind 2.0 Acquisition Corp	TDWDR	$62.2K	421,511	0.00%	flat	3q	HELD
United Acquisition Corp I	UACWS	$62.0K	53,947	0.00%	flat	2q	HELD
Sizzle Acquisition Corp. Ii Right 04/02/2030	SZZLR	$61.6K	339,951	0.00%	flat	5q	HELD
Bluerock Acquisition Corp	BLRKW	$60.1K	133,475	0.00%	flat	2q	HELD
CAMBRIDGE ACQUISITION EQY WARRANTS	CAQUW	$59.6K	183,332	0.00%	flat	2q	HELD
WHITE PEARL ACQUISITION CORP	WPACRT	$58.1K	200,000	0.00%	flat	2q	HELD
MUZERO ACQUISITION EQY WARRANT	MUZEW	$58.1K	200,200	0.00%	flat	2q	HELD
MOZAYYX ACQUISITION CORP	MZYXWS	$57.7K	81,448	0.00%	-	new	NEW
Pioneer Acquisition I Corp	PACHW	$57.2K	250,000	0.00%	flat	4q	HELD
RRE Ventures Acquisition Corp	RREVW	$57.1K	106,198	0.00%	-	new	NEW
ARTIUS II ACQUISITION INC	AACBR	$56.9K	250,049	0.00%	flat	4q	HELD
Oxley Bridge Acquisition Ltd	OBAWW	$55.4K	249,999	0.00%	flat	4q	HELD
Colombier Acquisition Corp III	CLBRWS	$55.1K	64,437	0.00%	flat	2q	HELD
Crown Resv Acquisition Corp Right 10/06/2030	CRACR	$54.9K	350,000	0.00%	flat	3q	HELD
QDRO ACQUISITION CORP	QADRW	$54.7K	185,466	0.00%	-	new	NEW
Dynamix Corp III	DNMXW	$54.4K	189,329	0.00%	flat	3q	HELD
Vendome Acquisition Corp I	VNMEW	$54.4K	187,500	0.00%	flat	4q	HELD
Activate Energy Acquisition Corp	AEAQW	$53.7K	157,825	0.00%	flat	2q	HELD
Viking Acquisition Corp I	VACIWS	$53.6K	64,670	0.00%	flat	3q	-66.3%-$105.3K
Vine Hill Capital Investment Corp II	VHCPW	$53.4K	111,226	0.00%	flat	2q	+4.7%+$2.4K
PONO CAP FOUR INC	PONOR	$53.3K	237,034	0.00%	-	new	NEW
Future Money Acquisition Cor Right 03/16/2031	FMACR	$52.6K	250,000	0.00%	-	new	NEW
PERIMETER ACQUISITION CORP I	PMTRW	$52.1K	56,300	0.00%	flat	4q	HELD
Maywood Acquisition Corp 2	MYXXR	$51.2K	250,000	0.00%	-	new	NEW
ARCHIMEDES TECH SPAC PTNRS I	ARCIW	$50.9K	81,385	0.00%	flat	2q	HELD
HCM IV ACQUISITION CORP	HACQW	$50.9K	89,283	0.00%	-	new	NEW
ABONY ACQUISITION I EQY WARRANTS	AACOW	$50.4K	117,113	0.00%	-	new	NEW
Blue Water Acquisition Corp IV	BWIVWS	$49.2K	137,549	0.00%	-	new	NEW
Drugs Made In Amer Acq Ii Co Right 09/16/2030	DMIIR	$48.6K	575,000	0.00%	flat	3q	HELD
BREEZE ACQUISITION CORP II	BREZR	$47.4K	189,500	0.00%	-	new	NEW
INSIGHT DIGITAL PARTNERS II	DYORW	$46.4K	160,149	0.00%	flat	3q	HELD
SOULPOWER ACQUISITION CORP	SOULRT	$46.2K	325,790	0.00%	flat	5q	HELD
Ai Infrastructure Acquisi Right 99/99/9999	AIIART	$46.0K	200,000	0.00%	flat	3q	HELD
TGE Value Creative Solutions Corp	BEBEWS	$45.4K	112,206	0.00%	flat	2q	HELD
Lafayette Digital Acquisition Corp I	ZKPW	$45.4K	153,750	0.00%	flat	2q	HELD
KPET ULTRA PACELINE CORP	KPETWS	$44.7K	74,481	0.00%	-	new	NEW
BLACK SPADE ACQUISITION III	BIIIWS	$44.3K	116,665	0.00%	flat	2q	HELD
K&F Growth Acquisition Corp Right 08/29/2031	KFIIR	$44.2K	360,850	0.00%	flat	4q	HELD
SPARTACUS ACQUISITON II EQY WARRANTS	TMTSW	$43.5K	83,332	0.00%	-	new	NEW
Galata Acquisition Corp II	LATAW	$43.2K	116,666	0.00%	flat	3q	HELD
FIGX CAP ACQUISITION CORP.	FIGXW	$42.9K	153,145	0.00%	flat	4q	HELD
CHAMPIONSGATE ACQUISITION CO	CHPGR	$42.0K	289,416	0.00%	flat	4q	HELD
Pyrophyte Acquisition Corp II	PAIIWS	$40.5K	77,981	0.00%	flat	4q	HELD
IDEA ACQUISITION EQY WARRANTS	IACOW	$40.5K	126,693	0.00%	-	new	NEW
ONEIM ACQUISITION CORP	OIMAW	$40.4K	49,011	0.00%	flat	2q	HELD
AA MISSION ACQUISITION CORP	YCYWS	$40.2K	174,999	0.00%	flat	3q	HELD
WILLOW LANE ACQUSTON II EQY WARRANTS	WLIIW	$40.0K	41,714	0.00%	-	new	NEW
LEGATO MERGER IV EQY WARRANT	LEGOWS	$40.0K	85,033	0.00%	flat	2q	HELD
Wen Acquisition Corp	WENNW	$39.3K	113,810	0.00%	flat	4q	HELD
SPACE ASSET ACQUISITION EQY WARRANTS	SAAQW	$38.8K	43,136	0.00%	flat	2q	HELD
Xsolla SPAC 1	XSLLW	$37.5K	167,092	0.00%	flat	2q	HELD
Infinite Eagle Acquisition C Right 01/13/2031	IEAGR	$37.1K	178,780	0.00%	flat	2q	HELD
Apogee Acquisition Corp Right 03/27/2031	AACPR	$35.9K	199,500	0.00%	-	new	NEW
Energy Transition Special Opportunities	ETSSWS	$35.8K	115,415	0.00%	-	new	NEW
Iris Acquisition Corp II	IRABWS	$35.2K	149,785	0.00%	flat	2q	HELD
Solarius Capital Acquisition Corp	SOCAW	$34.4K	125,100	0.00%	flat	4q	HELD
BAIN CAP GSS INVT CORP	BCSSWS	$34.1K	47,082	0.00%	flat	3q	HELD
Arc Group Acquisition I Corp Right 04/21/2031	ARCLR	$33.7K	195,000	0.00%	-	new	NEW
Chenghe Acquisition III Co	CHECW	$32.2K	149,999	0.00%	flat	3q	HELD
FIFTH ERA ACQUISITION CORP I	FERAR	$31.3K	100,088	0.00%	flat	4q	-12.9%-$4.6K
INDIGO ACQUISITION CORP	INACR	$31.2K	250,000	0.00%	flat	4q	HELD
New America Acquisition I Corp	NWAXWS	$30.8K	49,249	0.00%	flat	2q	HELD
K2 CAP ACQUISITION CORP	KTWOR	$30.8K	150,000	0.00%	flat	2q	HELD
LAKE SUPERIOR ACQUISITION CO	LKSPR	$30.8K	30,000	0.00%	flat	2q	HELD
AVERIN CAP ACQUISITION CORP	ACAAW	$29.1K	45,849	0.00%	-	new	NEW

Showing the largest 400 of 450 positions.

By sector

Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.

Sector	Value	Share
Holding & Investment	$831.7M	63.2%
Software & IT Services	$24.3M	1.9%
Other sectors	$51.0M	3.9%
Not classified	$408.3M	31.0%

What the disclosed book did

This is not the fund's return. A 13F shows long US equity positions only, so shorts, bonds, foreign listings, private holdings and cash are all invisible here. What this measures is the quarter's change in value of the positions this manager disclosed, had they been left untouched - the return a reader following the filing would have earned.

Quarter	Book	Market	Difference	Priced
Q2 2026	+1.7%	+14.8%	-13.2%	65%
Q3 2023	+1.1%	-3.6%	+4.6%	64%
Q2 2023	+0.8%	+8.3%	-7.4%	67%
Q1 2023	+1.7%	+7.0%	-5.4%	66%
Q4 2022	+1.8%	+7.1%	-5.2%	69%
Q3 2022	+0.8%	-5.3%	+6.2%	87%
Q2 2022	+0.1%	-16.5%	+16.6%	84%
Q1 2022	+0.2%	-4.9%	+5.1%	80%

Market is SPY over the same two quarter ends, priced the same way as everything else here - the median across every filer reporting it. It is a large-cap US proxy, so a manager holding small caps or biotech will beat or trail it for reasons that are not skill. Prices are quarter-end to quarter-end and say nothing about the path in between, or about trades opened and closed inside a quarter.

Quarter by quarter

Quarter	Value	Positions	New	Added	Trimmed	Exited	Top 10	Days to file
Q2 2026	$1.3B	450	114	64	30	69	23.0%	45
Q1 2026	$1.3B	405	155	42	12	59	28.3%	45
Q4 2025	$1.8B	309	110	103	24	38	45.3%	48
Q3 2025	$1.6B	237	129	59	17	34	53.1%	45
Q2 2025	$1.3B	142	108	16	4	8	60.2%	45
Q1 2025	$970.9M	42	5	11	2	12	73.5%	45
Q4 2024	$875.9M	49	17	14	2	7	70.9%	45
Q3 2024	$589.1M	39	9	11	1	9	86.5%	45
Q2 2024	$514.3M	39	7	6	12	41	86.7%	45
Q1 2024	$526.8M	73	9	3	28	128	67.8%	45
Q4 2023	$746.6M	192	15	26	82	295	46.5%	45
Q3 2023	$803.8M	472	22	28	86	131	23.8%	45
Q2 2023	$1.2B	581	27	36	82	134	25.6%	45
Q1 2023	$1.6B	688	55	120	57	246	22.8%	45
Q4 2022	$3.2B	879	31	107	41	341	11.3%	48
Q3 2022	$4.1B	1,189	43	274	25	93	8.0%	45
Q2 2022	$4.4B	1,239	108	336	18	86	9.3%	46
Q1 2022	$4.4B	1,217	295	270	24	128	14.8%	46
Q4 2021	$3.8B	1,050	285	4	58	132	17.8%	45
Q3 2021	$3.4B	897	140	17	66	158	23.3%	46
Q2 2021	$3.2B	915	441	39	38	213	19.8%	47
Q1 2021	$2.5B	687	497	17	32	155	15.8%	47
Q4 2020	$1.6B	345	248	23	18	110	30.4%	47
Q3 2020	$1.1B	207	127	28	28	37	40.1%	47
Q2 2020	$729.1M	117	35	26	25	37	48.8%	45
Q1 2020	$540.0M	119	100	7	7	11	51.2%	128
Q4 2019	$450.8M	30	7	6	5	15	86.4%	45
Q3 2019	$513.1M	38	4	5	6	5	79.7%	45
Q2 2019	$567.6M	39	13	13	5	3	77.2%	45
Q1 2019	$611.8M	29	12	6	3	5	72.8%	45
Q4 2018	$587.1M	22	0	0	0	0	78.0%	45

Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.

Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.

Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.