DaveManuel.com · Institutional Ownership · 13F Holdings

Westchester Capital Management, LLC

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

CIK

1512805

Reported value

$2.0B

Positions

301

Top 10 weight

48.8%

Filed

2026-08-14

Days after quarter end

Holdings

Download these holdings as CSV

Security	Ticker	Value	Shares	Weight	Weight change	Held	Change
ELECTRONIC ARTS INC	EA	$169.4M	826,173	8.29%	+1.59pp	4q	+13.9%+$20.7M
NORFOLK SOUTHN CORP	NSC	$162.2M	515,734	7.94%	+1.42pp	4q	+2.8%+$4.4M
WARNER BROS DISCOVERY INC	WBD	$152.4M	5,715,678	7.46%	+0.95pp	4q	+9.2%+$12.9M
CHART INDS INC	GTLS	$128.2M	613,584	6.28%	+1.63pp	4q	+23.7%+$24.6M
WEBSTER FINL CORP	WBS	$106.8M	1,397,789	5.23%	-0.54pp	2q	-23.7%-$33.3M
UNIFIRST CORP MASS	UNF	$76.0M	287,253	3.72%	+0.77pp	2q	+11.1%+$7.6M
DIGITALBRIDGE GROUP INC	DBRG	$58.3M	3,697,020	2.86%	+0.80pp	2q	+25.8%+$12.0M
PENUMBRA INC	PEN	$49.7M	157,472	2.43%	+1.29pp	2q	+105.5%+$25.5M
QORVO INC	QRVO	$49.7M	532,551	2.43%	+1.51pp	2q	+101.8%+$25.1M
ROKU INC	ROKU	$43.4M	314,488	2.13%	-	new	NEW
CAESARS ENTERTAINMENT INC NE	CZR	$41.6M	1,377,630	2.04%	+1.51pp	2q	+532.5%+$35.0M
nan PUT	BLD	$28.6M	37,399	1.40%	-	new	NEW
AGRICULTURE & NAT SOL ACQ CO	ANSC	$23.2M	2,044,768	1.14%	+0.09pp	10q	HELD
KENVUE INC	KVUE	$19.5M	1,022,789	0.96%	+0.70pp	3q	+208.7%+$13.2M
ORGANON & CO	OGN	$19.3M	1,426,578	0.95%	-	new	NEW
SELECT MED HLDGS CORP	SEM	$16.2M	983,315	0.79%	-	new	NEW
K&F GROWTH ACQUISITION CORP	KFII	$15.6M	1,476,268	0.76%	+0.06pp	6q	HELD
AES CORP	AES	$14.9M	1,013,872	0.73%	-	new	NEW
GLOBA TERRA ACQUISITION COR	GTERA	$14.6M	1,414,429	0.71%	+0.06pp	4q	HELD
APTIV PLC PUT	APTV	$13.7M	111,900	0.67%	-0.03pp	4q	HELD
GIGCAPITAL8 CORP O	GIW	$13.4M	1,330,000	0.65%	+0.05pp	3q	HELD
OYSTER ENTERPRISES II ACQUIS ORD SH	OYSE	$13.4M	1,295,112	0.65%	+0.05pp	4q	HELD
KOCHAV DEFENSE ACQUI CO	KCHV	$13.3M	1,286,000	0.65%	+0.06pp	4q	HELD
SOULPOWER	SOUL	$13.2M	1,279,300	0.65%	+0.05pp	4q	HELD
SIDDHI ACQUISITION CORP C	SDHI	$13.0M	1,249,197	0.64%	+0.05pp	5q	HELD
Pioneer Acquisition I Corp	PACH	$12.9M	1,258,612	0.63%	+0.05pp	4q	HELD
JACKSON ACQUISITION CO II COM SHS CL A	JACS	$12.6M	1,186,200	0.62%	+0.05pp	5q	HELD
ALDEL FINL II INC CL A	ALDF	$12.4M	1,159,448	0.61%	+0.05pp	7q	HELD
SIZZLE ACQUISITION CORP. II	SZZL	$12.2M	1,175,280	0.60%	-0.13pp	5q	-24.7%-$4.0M
BARRICK MNG CORP PUT	B	$12.2M	180,600	0.59%	+0.02pp	2q	+16.1%+$1.7M
JANUS HENDERSON GROUP PLC	JHG	$12.0M	230,719	0.59%	+0.05pp	2q	HELD
ANDRETTI ACQUISITION CORP II	POLE	$11.9M	1,111,416	0.58%	+0.05pp	7q	HELD
NEW PROVID	NPAC	$11.7M	1,128,999	0.57%	+0.05pp	3q	HELD
OXLEY BRID	OBA	$11.4M	1,117,657	0.56%	+0.05pp	4q	HELD
ARTIUS II ACQUISITION INC	AACB	$10.4M	995,939	0.51%	+0.04pp	5q	HELD
CAL REDWOOD ACQUISITION COR	CRAQ	$10.3M	1,000,000	0.50%	+0.04pp	4q	HELD
LAUNCH TWO ACQUISITION CORP.	LPBB	$10.2M	950,000	0.50%	+0.04pp	7q	HELD
APEX TREAS	APXT	$10.1M	1,000,000	0.49%	+0.04pp	3q	HELD
APOGEE THERAPEUTICS INC	APGE	$9.7M	72,962	0.47%	-	new	NEW
NEWBURY STR II ACQUISITION COR ORD SHS CL A	NTWO	$9.5M	898,111	0.47%	+0.04pp	7q	HELD
JENA ACQUI	JENA	$9.4M	912,000	0.46%	+0.04pp	4q	HELD
Quantum Leap Acquisition Corp	QLEP	$9.4M	950,000	0.46%	-	new	NEW
GSR IV ACQUISITION CORP C	GSRF	$9.1M	900,000	0.45%	+0.04pp	2q	HELD
Titan Acquisition Corp	TACH	$9.1M	869,693	0.44%	-0.19pp	4q	-35.3%-$4.9M
COPLEYACQUISITIONCORP	COPL	$9.0M	860,600	0.44%	+0.04pp	5q	HELD
ARMADA ACQUISITION CORP II COM CL A	XRPN	$8.7M	833,400	0.43%	+0.04pp	5q	HELD
REPUBLIC DIGITAL ACQUISITION	RDAG	$8.5M	825,000	0.42%	+0.03pp	2q	HELD
MOUNTAIN LAKE ACQUISIT CORP	MLAA	$8.5M	853,517	0.41%	-	new	NEW
LIGHTWAVE	LWAC	$8.4M	819,872	0.41%	+0.04pp	3q	HELD
HARVARD AVE ACQUISITION CORP	HAVA	$8.1M	796,944	0.40%	+0.31pp	3q	+302.2%+$6.1M
L3HARRIS TECHNOLOGIES INC PUT	LHX	$7.9M	10,966	0.39%	+0.22pp	2q	+311.3%+$6.0M
FACT II ACQUISITION CORP ORD SHS CL A	FACT	$7.7M	726,116	0.38%	+0.03pp	7q	HELD
MCKINLEY A	MKLY	$7.5M	740,000	0.37%	+0.03pp	3q	HELD
BERTO ACQUISITION CORP	TACO	$7.4M	703,632	0.36%	+0.03pp	3q	HELD
WHITE PEARL ACQUISITION CORP	WPAC	$7.1M	705,324	0.35%	+0.23pp	2q	+182.1%+$4.6M
FEDEX CORP PUT	FDX	$7.0M	11,200	0.34%	-0.16pp	2q	-28.2%-$2.8M
APEX TECH ACQ CRP; TNT ACQ DT: 5/26/2027; CASH: $10.00	TRAD	$7.0M	700,000	0.34%	-	new	NEW
DUNEACQUISITIONCORPII	CCAQ	$7.0M	666,477	0.34%	+0.03pp	3q	HELD
WEN ACQUISITION CORP	WENN	$6.9M	671,583	0.34%	+0.03pp	4q	HELD
CSLM DIGIT	KOYN	$6.6M	650,000	0.32%	+0.03pp	3q	HELD
Solarius Capital Acquisition Corp	SOCA	$6.6M	640,000	0.32%	+0.03pp	4q	HELD
QUARTZSEAACQUISITIONCORP	QSEA	$6.4M	611,605	0.31%	+0.14pp	5q	+66.8%+$2.6M
CROWN RESV ACQUISITION CORP	CRAC	$6.4M	635,872	0.31%	+0.03pp	3q	HELD
HONEYWELL INTL INC PUT	HON	$6.4M	6,087	0.31%	-	new	NEW
COMCAST CORP NEW PUT	CMCSA	$6.3M	128,800	0.31%	-	new	NEW
HONEYWELL AEROSPACE INC PUT	HONA	$6.3M	6,087	0.31%	-	new	NEW
DRUGS MADE IN AMER ACQ II CO	DMII	$6.3M	621,797	0.31%	+0.08pp	3q	+24.4%+$1.2M
DRUGS MADE IN AMER ACQUTN CO	DMAA	$6.2M	581,790	0.30%	-0.49pp	6q	-65.1%-$11.6M
QXO INC PUT	QXO	$6.2M	options only	0.30%	-	new	OPTIONS
ACTIVATE ENERGY ACQUISIT COR	AEAQ	$6.0M	600,000	0.29%	+0.18pp	2q	+140.0%+$3.5M
BLUE WTR ACQUISITION CORP. I ORD SH	BLUW	$5.8M	565,552	0.29%	+0.02pp	4q	HELD
AA MISSION ACQUISITION CORP O	YCY	$5.8M	572,185	0.28%	+0.02pp	3q	HELD
YORKVILLE ACQUISITION CORP.	MCGA	$5.6M	550,000	0.27%	+0.02pp	2q	HELD
EQV VENTURES AC CORP. II O	EVAC	$5.6M	550,000	0.27%	-	new	NEW
INFLECTION POINT ACQU CORP V	IPEX	$5.6M	532,807	0.27%	+0.02pp	6q	HELD
Collective Acquisition Corp Unit 04/27/2031	CAIIU	$5.5M	550,000	0.27%	-	new	NEW
Thayer Ventures Acquisition Corp II	TVAI	$5.4M	525,000	0.27%	+0.02pp	4q	HELD
GORES HLDGS X INC	GTEN	$5.4M	515,073	0.26%	+0.02pp	3q	HELD
NMP Acquisition Corp	NMP	$5.1M	500,000	0.25%	+0.02pp	4q	HELD
VENDOME ACQUISITION CORP I C	VNME	$5.1M	500,000	0.25%	+0.02pp	4q	HELD
DRUGS MADE IN AMER ACQ II CO	DMIIU	$5.1M	502,914	0.25%	+0.02pp	4q	HELD
QuasarEdge Acquisition Corp	QRED	$5.0M	507,797	0.25%	-	new	NEW
SC ACQ CRP II; TNT ACQ DT: 5/25/2027; CASH: $10.00	SCII	$5.0M	500,000	0.25%	+0.02pp	2q	HELD
SPACSphere Acquisition Corp	SSAC	$5.0M	500,000	0.24%	-	new	NEW
APERTURE AC	APUR	$5.0M	500,000	0.24%	-	new	NEW
NEWHOLD INVT CORP III	NHIC	$4.9M	450,000	0.24%	+0.03pp	5q	HELD
AXIOM INTELLIGENCE AC CORP 1 ORD SH	AXIN	$4.8M	460,459	0.23%	-0.08pp	4q	-31.8%-$2.2M
ROMAN DBDR ACQUISITION CORP	DRDB	$4.6M	438,091	0.23%	+0.14pp	5q	+136.5%+$2.7M
LAKE SUPERIOR ACQUISITION CO	LKSP	$4.6M	455,000	0.23%	+0.13pp	3q	+127.5%+$2.6M
SILVER PEG	SPEG	$4.6M	445,000	0.22%	+0.06pp	4q	+27.1%+$976.6K
VALARIS LTD	VAL	$4.5M	62,646	0.22%	-0.05pp	2q	+1.8%+$79.9K
MILUNA ACQUISITION CORP	MMTX	$4.5M	450,000	0.22%	+0.02pp	2q	HELD
BHAV Acquisition Corp	BHAV	$4.5M	450,000	0.22%	-	new	NEW
MAYWOOD ACQ CRP II; TNT ACQ DT: 7/14/2027; CASH: $10.00	MYX	$4.4M	450,000	0.22%	-	new	NEW
ORIGIN INVT CORP I	ORIQ	$4.4M	425,000	0.21%	+0.02pp	4q	HELD
AI INFRASTRUCTURE ACQUISI	AIIAU	$4.1M	400,000	0.20%	+0.02pp	3q	HELD
FUTURE VISION II ACQUISITION	FVN	$4.1M	376,362	0.20%	+0.02pp	6q	HELD
CSLM DIGITA ASSET ACQ CORP I	KOYNU	$4.1M	400,000	0.20%	+0.02pp	4q	HELD
RIBBON ACQUISITION CORP	RIBB	$3.9M	375,734	0.19%	+0.01pp	3q	HELD
BLACKROCK MUNIHOLDINGS FD IN	MHD	$3.9M	326,160	0.19%	+0.02pp	5q	HELD
HUNTSMAN CORP	HUN	$3.9M	364,321	0.19%	-	new	NEW
STARRY SEA ACQUISITION CORP	SSEA	$3.8M	375,000	0.19%	+0.02pp	3q	HELD
GigCapital9 Corp	GIX	$3.7M	368,544	0.18%	+0.13pp	2q	+268.5%+$2.7M
CALISA ACQUISITION CORP	ALIS	$3.6M	354,923	0.18%	+0.02pp	3q	HELD
QUANTUMSPHERE ACQUISITION CO	QUMS	$3.6M	350,000	0.18%	+0.06pp	3q	+40.0%+$1.0M
Meshflow Acquisition Corp	MESHU	$3.5M	350,000	0.17%	+0.01pp	3q	HELD
SILVERBOX CORP IV	SBXDF	$3.5M	325,485	0.17%	+0.01pp	6q	HELD
GSR V ACQUISITION CORP	GSRVU	$3.5M	350,000	0.17%	-	new	NEW
CO2 Energy Transition Corp	NOEM	$3.5M	331,013	0.17%	+0.02pp	6q	HELD
PONO CAP FOUR INC	PONO	$3.5M	350,000	0.17%	-	new	NEW
PROCAP ACQUISITION CORP	PCAP	$3.4M	329,924	0.17%	+0.05pp	4q	+26.5%+$711.8K
AI INFRASTRUCTURE ACQUISI	AIIA	$3.4M	331,000	0.17%	+0.02pp	3q	HELD
LAUNCHPAD CADENZA ACQU CORP	LPCV	$3.3M	334,463	0.16%	-	new	NEW
TXNM ENERGY INC	TXNM	$3.3M	58,597	0.16%	-	new	NEW
M EVO GBL ACQUISITION CORP I	MEVOU	$3.3M	328,858	0.16%	+0.01pp	2q	HELD
OTG Acquisition Corp I	OTGA	$3.2M	312,800	0.16%	-	new	NEW
XFLH Capital Corp	XFLH	$3.1M	315,547	0.15%	-	new	NEW
BRIGHTHOUSE FINL INC	BHF	$3.1M	49,090	0.15%	+0.02pp	3q	HELD
GIGCAPITAL9 CORP	GIXXU	$3.1M	300,000	0.15%	+0.01pp	2q	HELD
CHENGHE ACQUISITION III CO	CHEC	$2.8M	277,000	0.14%	+0.14pp	3q	+13750.0%+$2.8M
WINTERGREEN ACQUISITION CORP	WTG	$2.6M	254,058	0.13%	+0.01pp	4q	HELD
ALDABRA 4 LQDTY OPP VEH INC	ALOVU	$2.6M	250,000	0.13%	+0.02pp	2q	HELD
BAIN CAP GSS INVT CORP	BCSSU	$2.6M	250,000	0.13%	+0.01pp	4q	HELD
CROWN RESV ACQUISITION CORP	CRACU	$2.6M	250,000	0.13%	+0.01pp	3q	HELD
INDIGO ACQ	INAC	$2.6M	250,000	0.13%	+0.01pp	3q	HELD
WEST ENCLAVE MERGER CORP	WENCU	$2.6M	253,203	0.12%	-	new	NEW
PYROPHYTE ACQUISITION CORP.	PAII	$2.5M	250,000	0.12%	+0.01pp	3q	HELD
STARLINK AI ACQUISITION CORP	OTAIU	$2.5M	250,000	0.12%	-	new	NEW
Bluerock Acquisition Corp Unit 11/06/2030	BLRKU	$2.5M	250,000	0.12%	+0.01pp	3q	HELD
GESHER ACQ	GSHR	$2.5M	240,000	0.12%	+0.01pp	4q	HELD
ITHAX ACQ CRP III; TNT ACQ DT: 12/12/2027; CASH: $10.00	ITHA	$2.5M	250,000	0.12%	-	new	NEW
FUTURE MONEY ACQUISITION COR	FMAC	$2.5M	250,000	0.12%	-	new	NEW
Wilco 63 Corp	WLCOU	$2.5M	250,000	0.12%	-	new	NEW
APOGEE ACQ CRP; TNT ACQ DT: 7/07/2027; CASH: $10.05	AACP	$2.5M	250,000	0.12%	-	new	NEW
K2 CAP ACQUISITION CORP	KTWO	$2.5M	250,000	0.12%	-	new	NEW
Tribeca Strategic Acquisitio Unit 05/22/2031	BIDWU	$2.5M	250,000	0.12%	-	new	NEW
GALAXYEDGE ACQUISITION CORP	GLED	$2.5M	250,000	0.12%	-	new	NEW
INTERPRIVATE INVTS PARTNERS	IPVVU	$2.5M	250,000	0.12%	-	new	NEW
CHARLTONARIAACQUISITIONCO	CHAR	$2.4M	222,500	0.12%	+0.02pp	6q	+11.2%+$242.3K
WESTIN ACQUISITION CORP	WSTN	$2.3M	226,200	0.11%	+0.01pp	2q	HELD
BREEZE ACQ CRP II; TNT ACQ DT: 5/13/2027; CASH: $10.03	BREZ	$2.3M	230,000	0.11%	-	new	NEW
CARTESIAN GROWTH CORP IV	CGCFU	$2.2M	225,000	0.11%	-	new	NEW
BITCOIN INFRASTRUCTURE ACQUI	BIXIU	$2.2M	220,000	0.11%	+0.01pp	3q	HELD
Cohen Circle Acquisit Corp I Unit 07/01/2030	CCIIU	$2.2M	210,630	0.11%	+0.01pp	4q	HELD
BLACKROCK MUNIYILD QULT FD I	MQY	$2.2M	188,139	0.11%	+0.01pp	6q	HELD
DT CLOUD STAR ACQUISITION CO	DTSQ	$2.1M	187,722	0.10%	+0.01pp	8q	HELD
STELLAR V	SVCC	$2.1M	200,000	0.10%	+0.01pp	5q	HELD
CANTOR EQUITY PARTNERS V INC	CEPV	$2.1M	200,000	0.10%	-0.10pp	3q	-55.6%-$2.6M
LAFAYETTE	LAFA	$2.0M	200,000	0.10%	-	new	NEW
Iron Dome Acquisition I Corp Unit 02/27/2031	IDACU	$2.0M	200,000	0.10%	-	new	NEW
Mozayyx Acquisition Corp Unit 99/99/9999	MZYXU	$2.0M	200,000	0.10%	+0.01pp	2q	HELD
LAKESHORE ACQUISITION III CO	LCCC	$2.0M	192,703	0.10%	-0.22pp	4q	-72.0%-$5.2M
Muzero Acquisition Corp Unit 01/30/2031	MUZEU	$2.0M	200,000	0.10%	+0.01pp	2q	HELD
Soren Acquisition Corp Unit 12/19/2030	SORNU	$2.0M	200,000	0.10%	+0.01pp	2q	HELD
Cambridge Acquisition Corp Unit 01/30/2031	CAQUU	$2.0M	200,000	0.10%	+0.01pp	2q	HELD
ACP Holdings Acquisition Corp	ACGC	$2.0M	200,000	0.10%	-	new	NEW
FIFTH ERA ACQUISITION CORP I ORD SH	FERA	$1.9M	186,300	0.10%	+0.05pp	4q	+115.9%+$1.0M
CHURCHILL CAPITAL CORP IX	CCIX	$1.9M	175,971	0.09%	-0.31pp	7q	-78.7%-$7.1M
BIO TECHNE CORP	TECH	$1.9M	26,328	0.09%	-	new	NEW
EMMIS ACQUISITION CORP.	EMIS	$1.8M	175,000	0.09%	+0.01pp	3q	HELD
GALATA ACQ	LATA	$1.8M	175,000	0.09%	+0.01pp	2q	HELD
HIGHVIEW MERGER CORP O	HVMC	$1.7M	170,299	0.08%	+0.01pp	3q	HELD
FEDEX FGHT HLDG CO INC PUT	FDXF	$1.7M	5,600	0.08%	-	new	NEW
FG MERGER II CORP	FGMC	$1.6M	155,928	0.08%	-0.08pp	6q	-55.3%-$2.0M
COLUMBUS CIRCLE CAP CORP II	CMIIU	$1.6M	150,000	0.08%	+0.01pp	2q	HELD
FIGX CAP A	FIGX	$1.6M	152,916	0.08%	+0.01pp	4q	HELD
PERIMETER ACQUISITION CORP I COM C	PMTR	$1.6M	150,000	0.08%	+0.01pp	2q	HELD
LIBERTY BROADBAND CORP	LBRDA	$1.6M	46,828	0.08%	-0.30pp	6q	-71.9%-$4.0M
APEX TREAS CORP	APXTU	$1.5M	150,000	0.08%	+0.01pp	3q	HELD
American Drive Acquisition C Unit 12/04/2030	ADACU	$1.5M	150,000	0.07%	+0.01pp	3q	HELD
Iron Horse Acquisition II Corp	IRHOU	$1.5M	150,000	0.07%	+0.01pp	3q	HELD
IDEA ACQUISITION CORP	IACOU	$1.5M	150,000	0.07%	+0.01pp	2q	HELD
DISCIPLINED GROWTH	DGACU	$1.5M	150,000	0.07%	-	new	NEW
ILLUMINATION ACQUISITIO CORP	ILLUU	$1.5M	150,000	0.07%	+0.01pp	2q	HELD
LEGATO MERGER CORP IV	LEGOU	$1.5M	150,000	0.07%	+0.01pp	2q	HELD
Praetorian Acquisition Corp Unit 01/16/2031	PTORU	$1.5M	150,000	0.07%	+0.01pp	2q	HELD
JAB ACQUISITION CORP I	JABRU	$1.5M	150,000	0.07%	-	new	NEW
LAFAYETTE DIGITAL ACQ CRP; TNT ACQ DT: 1/9/2028; CASH: $10.00	ZKP	$1.5M	150,000	0.07%	-	new	NEW
Cantor Equity Partners VII Inc	CAES	$1.5M	148,146	0.07%	-	new	NEW
VERNAL CAP ACQUISITION CORP	VECA	$1.5M	150,000	0.07%	-	new	NEW
MCKINLEY ACQUISITION CORP	MKLYU	$1.5M	142,813	0.07%	+0.01pp	4q	HELD
TEXASVENTURESACQUISITIONI	TVA	$1.4M	136,832	0.07%	+0.01pp	4q	HELD
DAEDALUS SPL ACQUISITION COR	DSACU	$1.4M	142,208	0.07%	+0.01pp	3q	HELD
UYSCUTIACQUISITIONCORP.	UYSC	$1.4M	130,200	0.07%	-0.09pp	4q	-60.5%-$2.1M
TRANSLATIONAL DEV ACQUISITIO	TDAC	$1.3M	124,328	0.07%	-0.05pp	4q	-50.0%-$1.3M
SILVER PEGASUS ACQUISITION C	SPEGU	$1.3M	125,000	0.06%	+0.01pp	4q	HELD
AMPERCAP ACQUISITION CO	APMCU	$1.3M	130,000	0.06%	-	new	NEW
PEACE ACQUISITION CORP	PECEU	$1.3M	125,000	0.06%	-	new	NEW
OTG ACQUISITION CORP. I	OTGAU	$1.3M	125,000	0.06%	+0.01pp	4q	HELD
Social Commerce Partners Corp	SCPQU	$1.3M	125,000	0.06%	+0.01pp	3q	HELD
LEAPFROG ACQUISITION CORP	LFACU	$1.3M	125,000	0.06%	flat	3q	HELD
Abony Acquisition Corp I Unit 01/29/2031	AACOU	$1.3M	125,000	0.06%	flat	2q	HELD
BLACKROCK MUNIYIELD QUALITY	MYI	$1.2M	112,436	0.06%	+0.01pp	11q	HELD
BLACKHAWKACQUISITIONCORP	BKHA	$1.2M	102,000	0.06%	+0.01pp	6q	HELD
Proem Acquisition Corp I	PAACU	$1.2M	117,188	0.06%	flat	2q	-4.1%-$50.4K
D. BORAL ARC ACQ I CORP.	BCAR	$1.0M	99,178	0.05%	-0.13pp	4q	-74.3%-$3.0M
Archimedes Tech Spac Ptnrs I Unit 01/23/2031	ARCIU	$1.0M	100,000	0.05%	flat	2q	HELD
BLUEPORT ACQUISITION LTD	BPAC	$1.0M	100,000	0.05%	flat	2q	HELD
Silverbox Corp V Unit 99/99/9999	SBXEU	$1.0M	100,000	0.05%	flat	3q	HELD
FOREFRONT TECHNOLOGY HOLDING	FTHAU	$1.0M	100,000	0.05%	-	new	NEW
BLUE WTR ACQUISITION CORP IV	BWIVU	$1.0M	100,000	0.05%	flat	2q	HELD
LAFAYETTE DIGITAL ACQUISITIO	ZKPU	$955.0K	100,000	0.05%	flat	2q	HELD
COLOMBIER ACQUISITION CORP I	CLBRU	$900.9K	87,212	0.04%	flat	2q	HELD
Figx Cap Acquisition Corp. Unit 06/17/2030	FIGXU	$871.2K	85,000	0.04%	flat	5q	HELD
EGH ACQUISITION CORP.	EGHA	$833.3K	80,900	0.04%	flat	4q	HELD
FRANKLIN UNVL TR	FT	$822.9K	102,032	0.04%	flat	18q	HELD
StoneBridge Acquisition II Corp	APAC	$813.6K	80,000	0.04%	flat	3q	HELD
VIKING ACQUISITION CORP I	VACIU	$797.3K	75,000	0.04%	+0.01pp	3q	HELD
SPACE ASSET ACQUISITION CORP	SAAQU	$660.0K	62,497	0.03%	flat	2q	HELD
CHAMPIONSGATE ACQUISITION CO	CHPG	$624.6K	60,000	0.03%	-	new	NEW
FLAGSHIPACQUISITIONCORP	FSHP	$580.2K	52,702	0.03%	flat	4q	HELD
EUREKAACQUISITIONCORP	EURK	$571.0K	50,000	0.03%	flat	5q	HELD
CRANE HBR ACQUISITION CORP I	CRANU	$515.0K	50,000	0.03%	flat	3q	HELD
Infinite Eagle Acquisition C Unit 01/13/2031	IEAGU	$513.5K	50,000	0.03%	flat	2q	HELD
M3-Brigade Acquisition Vi Co Unit 08/18/2030	MBVIU	$512.5K	50,000	0.03%	flat	4q	HELD
NEWHOLD INVTS CORP IV	NHIVU	$510.5K	50,000	0.02%	-	new	NEW
BTC DEV CORP	BDCIU	$507.5K	50,000	0.02%	flat	4q	HELD
KRAKACQUISITION CORPORATION	KRAQU	$507.5K	50,000	0.02%	flat	2q	HELD
DYNAMIX CORP III	DNMXU	$506.5K	50,000	0.02%	flat	3q	HELD
TEXAS VENTURES ACQUISITION I	TVIVU	$477.5K	47,750	0.02%	-	new	NEW
1RT ACQUISITION CORP.	ONCHU	$320.5K	30,820	0.02%	flat	4q	HELD
EATON VANCE FLOATING RATE IN	EFT	$288.1K	26,678	0.01%	flat	4q	HELD
CN HEALTHY FOOD TECH GROUP C	UCFI	$268.4K	48,718	0.01%	flat	3q	HELD
HCM III ACQUISITION CORP	HCMAU	$261.0K	25,000	0.01%	flat	4q	HELD
HORIZON SPACE ACQUISITION II	HSPT	$223.3K	21,004	0.01%	flat	6q	HELD
GSR IV ACQUISITION CORP	GSRFR	$213.6K	92,854	0.01%	flat	2q	HELD
Kochav Defense Acqui Co Right 05/21/2030	KCHVR	$202.0K	1,000,000	0.01%	flat	3q	HELD
COLLECTIVE ACQUISITION CORP	CCAQW	$175.4K	449,855	0.01%	flat	3q	HELD
Quantum Leap Acquisition Corp - US	QLEPWS	$123.5K	950,000	0.01%	-	new	NEW
GORES HLDGS X INC	GTENW	$121.0K	128,764	0.01%	flat	3q	HELD
JACKSON ACQUISITION CO II	JACSRT	$112.7K	803,750	0.01%	flat	5q	-5.4%-$6.5K
Teamshares Inc	TMSWW	$110.2K	74,999	0.01%	-	new	NEW
Futurecrest Acquisition Corp Unit 99/99/9999	FCRSU	$104.5K	10,000	0.01%	flat	4q	HELD
NEW PROVIDENCE ACQUISITION C	NPACW	$94.6K	363,930	0.00%	flat	3q	HELD
Oyster Enterprises Ii Acquis Right 05/22/2030	OYSER	$93.6K	850,000	0.00%	flat	3q	HELD
Pioneer Acquisition I Corp	PACHW	$91.7K	424,999	0.00%	flat	2q	HELD
Aldel Financial II Inc	ALDFW	$90.7K	312,499	0.00%	flat	5q	HELD
SOULPOWER ACQUISITION CORP	SOULRT	$87.2K	747,800	0.00%	flat	4q	HELD
AIMEI HEALTH TECHNOLOGY CO L	AFJKR	$86.5K	288,212	0.00%	flat	9q	HELD
ARMADA ACQUISITION CORP II	XRPNW	$85.0K	100,055	0.00%	flat	3q	HELD
SPACSphere Acquisition Corp	SSACR	$84.5K	500,000	0.00%	-	new	NEW
LightWave Acquisition Corp	LWACW	$84.1K	284,934	0.00%	flat	3q	HELD
MOUNTAIN LAKE ACQUISIT CORP	MLAAW	$83.0K	307,261	0.00%	-	new	NEW
LAKESHORE ACQUISITION III CO	LCCCR	$79.3K	396,601	0.00%	flat	4q	-9.7%-$8.6K
MIDCAP FINANCIAL INVSTMNT CO	MFIC	$77.6K	7,702	0.00%	flat	8q	HELD
Titan Acquisition Corp	TACHW	$73.4K	122,345	0.00%	flat	4q	-81.8%-$330.0K
EQV Ventures Acquisition Corp II	EVACWS	$72.9K	183,330	0.00%	-	new	NEW
PERIMETER ACQUISITION CORP I	PMTRW	$71.2K	74,998	0.00%	flat	2q	HELD
Wen Acquisition Corp	WENNW	$69.2K	192,324	0.00%	flat	2q	HELD
Jena Acquisition Corp Ii Right 03/31/2030	JENART	$68.0K	400,000	0.00%	flat	3q	HELD
Activate Energy Acquisition Corp	AEAQW	$66.5K	174,998	0.00%	-	new	NEW
HARVARD AVE ACQUISITION CORP	HAVAR	$65.9K	598,790	0.00%	-	new	NEW
PANTAGES CAPITAL ACQUISITION	PGACR	$61.6K	385,000	0.00%	flat	5q	HELD
BREEZE ACQUISITION CORP II	BREZR	$59.8K	230,000	0.00%	-	new	NEW
WHITE PEARL ACQUISITION CORP	WPACRT	$57.7K	205,324	0.00%	-	new	NEW
DRUGS MADE IN AMER ACQUTN CO	DMAAR	$55.0K	500,000	0.00%	flat	5q	HELD
BLUE WTR ACQUISITION CORP. I	BLUWW	$54.6K	148,958	0.00%	flat	2q	-25.1%-$18.3K
AA MISSION ACQUISITION CORP	YCYWS	$54.4K	247,090	0.00%	flat	2q	HELD
TEXAS VENTURES ACQUISITION I	TVACW	$53.4K	100,717	0.00%	flat	4q	HELD
NEWHOLD INVT CORP III	NHICW	$53.0K	25,352	0.00%	flat	4q	-74.6%-$156.0K
SIM Acquisition I Corp	SIMAW	$46.9K	187,499	0.00%	flat	5q	HELD
Launch Two Acquisition Corp	LPBBW	$43.1K	124,999	0.00%	flat	5q	HELD
Newbury Street II Acquisition Corp	NTWOW	$41.8K	225,000	0.00%	flat	5q	HELD
IB ACQUISITION CORP	IBACR	$41.4K	349,019	0.00%	flat	9q	HELD
THAYER VENTURES ACQ CORP II	TVAIR	$41.3K	275,000	0.00%	flat	3q	HELD
Aperture Ac Right 05/06/2031	APURR	$40.0K	250,000	0.00%	-	new	NEW
Launchpad Cadenza Acquisition Corp I	LPCVW	$39.0K	111,486	0.00%	-	new	NEW
Sizzle Acquisition Corp. Ii Right 04/02/2030	SZZLR	$38.0K	234,007	0.00%	-0.01pp	4q	-76.6%-$124.5K
LAKE SUPERIOR ACQUISITION CO	LKSPR	$36.4K	36,425	0.00%	-	new	NEW
Uy Scuti Acquisition Corp. Right 03/03/2030	UYSCR	$36.3K	330,000	0.00%	flat	4q	HELD
TAVIA ACQUISITION CORP	TAVIR	$36.0K	400,000	0.00%	flat	5q	HELD
AVALANCHE TREAS CORP	AVAT	$35.0K	69,998	0.00%	-	new	NEW
CAL REDWOOD ACQUISITION CORP	CRAQR	$34.5K	150,000	0.00%	flat	2q	HELD
Stellar V Capital Corp	SVCCW	$34.4K	99,998	0.00%	flat	5q	HELD
ITHAX ACQUISITION CORP III WARRANTS	ITHAW	$34.0K	124,998	0.00%	-	new	NEW
Gesher Acquisition II Corp	GSHRW	$33.6K	119,999	0.00%	flat	4q	HELD
K&F Growth Acquisition Corp Right 08/29/2031	KFIIR	$30.0K	250,000	0.00%	flat	5q	HELD
ROMAN DBDR ACQUISITION CORP	DRDBW	$30.0K	149,998	0.00%	flat	5q	HELD
FACT II Acquisition Corp	FACTW	$29.7K	53,872	0.00%	flat	5q	HELD
Chenghe Acquisition III Co	CHECW	$28.9K	137,498	0.00%	-	new	NEW
Berto Acquisition Corp	TACOW	$27.7K	37,499	0.00%	flat	3q	HELD
AGRICULTURE & NAT SOL ACQ CO	ANSCW	$26.6K	132,870	0.00%	flat	8q	HELD
SPACSphere Acquisition Corp	SSACW	$26.3K	249,998	0.00%	-	new	NEW
ALCHEMY INVTS ACQUISITN CORP	ALCWF	$24.8K	224,998	0.00%	flat	12q	HELD
Lafayette Acquisition Corp Right 10/24/2030	LAFAR	$23.3K	200,000	0.00%	-	new	NEW
CN HEALTHY FOOD TECH GROUP C	IROHW	$22.2K	243,606	0.00%	flat	9q	HELD
Oxley Bridge Acquisition Ltd	OBAWW	$21.3K	99,997	0.00%	flat	2q	HELD
Emmis Acquisition Corp. Right 09/12/2030	EMISR	$21.0K	175,000	0.00%	flat	3q	HELD
Galata Acquisition Corp II	LATAW	$20.5K	58,331	0.00%	flat	2q	HELD
VERAXA BIOTECH AG	VRXAW	$20.3K	183,647	0.00%	-	new	NEW
Keen Vision Acquisition Corp	KVACW	$18.2K	606,555	0.00%	flat	11q	HELD
BAYVIEW ACQUISITION CORP	BAYAR	$17.5K	250,000	0.00%	flat	9q	HELD
Black Hawk Acquisition Corp	BKHAR	$15.3K	9,923	0.00%	flat	5q	HELD
Centurion Acquisition Corp	ALFUW	$14.5K	49,999	0.00%	flat	5q	HELD
Republic Digital Acquisition Co	RDAGW	$13.5K	37,499	0.00%	flat	2q	HELD
QUANTUMSPHERE ACQUISITION CO	QUMSR	$12.2K	100,000	0.00%	-	new	NEW
BEST SPAC I ACQUISITION CORP	BSAAR	$8.3K	50,000	0.00%	flat	3q	HELD
CHAMPIONSGATE ACQUISITION CO	CHPGR	$7.8K	60,000	0.00%	-	new	NEW
ProCap Acquisition Corp	PCAPW	$7.4K	23,033	0.00%	-	new	NEW
TEVOGEN BIO HLDGS INC	TVGNW	$5.7K	99,994	0.00%	flat	10q	HELD
WINTERGREEN ACQUISITION CORP	WTGUU	$3.4K	324	0.00%	flat	5q	HELD

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	$640.2M	31.3%
Transport & Logistics	$171.5M	8.4%
Business Services	$119.1M	5.8%
Telecom & Media	$49.8M	2.4%
Medical Devices	$49.7M	2.4%
Autos & Aerospace	$42.0M	2.1%
Other sectors	$164.4M	8.0%
Not classified	$806.2M	39.5%

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	+1.9%	+14.8%	-12.9%	83%
Q1 2026	+0.5%	-4.6%	+5.1%	71%
Q4 2025	+5.0%	+2.4%	+2.7%	84%
Q3 2025	+4.3%	+7.8%	-3.5%	82%
Q2 2025	-3.3%	+10.5%	-13.8%	83%
Q1 2025	+6.2%	-4.6%	+10.8%	71%
Q4 2024	-0.1%	+2.1%	-2.2%	75%
Q3 2024	+1.3%	+5.4%	-4.1%	85%

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	$2.0B	301	76	27	21	74	48.8%	45
Q1 2026	$2.2B	299	64	26	26	43	44.9%	45
Q4 2025	$2.4B	278	83	32	34	53	46.3%	44
Q3 2025	$2.2B	248	88	21	20	45	48.9%	45
Q2 2025	$1.9B	205	92	34	17	51	52.1%	45
Q1 2025	$1.9B	164	53	32	15	50	54.1%	44
Q4 2024	$1.8B	161	49	16	22	72	55.2%	45
Q3 2024	$2.3B	184	33	22	35	63	53.8%	45
Q2 2024	$2.7B	214	41	21	28	59	49.0%	45
Q1 2024	$2.7B	232	42	37	32	68	52.0%	45
Q4 2023	$2.9B	258	57	32	58	88	50.5%	46
Q3 2023	$3.4B	289	74	50	42	94	49.7%	39
Q2 2023	$3.2B	309	74	82	28	116	41.4%	45
Q1 2023	$3.3B	351	117	113	22	203	33.6%	45
Q4 2022	$3.6B	437	146	128	15	180	32.3%	45
Q3 2022	$3.6B	471	119	85	28	68	30.2%	48
Q2 2022	$3.6B	420	57	37	34	50	30.9%	46
Q1 2022	$3.7B	413	86	40	23	58	36.2%	46
Q4 2021	$3.5B	385	102	52	33	73	51.9%	45
Q3 2021	$3.5B	356	114	60	15	82	51.8%	46
Q2 2021	$4.3B	324	78	23	31	84	50.3%	44
Q1 2021	$3.6B	330	206	37	40	78	47.5%	47
Q4 2020	$3.1B	202	113	13	40	85	52.5%	43
Q3 2020	$2.4B	174	72	15	25	34	59.0%	47
Q2 2020	$2.3B	136	40	20	18	62	63.5%	45
Q1 2020	$2.6B	158	49	21	25	31	40.3%	44
Q4 2019	$2.8B	140	60	19	20	40	45.9%	45
Q3 2019	$2.6B	120	26	22	8	23	53.0%	45
Q2 2019	$3.1B	117	38	14	13	29	62.6%	45
Q1 2019	$2.7B	108	36	18	7	35	63.0%	45
Q4 2018	$2.3B	107	0	0	0	0	57.5%	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.