MMCAP International Inc. SPC portfolio

What changed this quarter

70 positions with a change (24 new, 10 added to, 20 trimmed, 16 sold); also, 14 entered through an IPO, 6 exited through an acquisition or merger, 12 entered through a spin-off. 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Xanadu Quantum Technologies−4.1 ppof portfolioSold out
  4.2% → —
• Transalta+1.5 ppof portfolioNew
  — → 1.5%
• Aris Water Solutions−13%fewer sharesReduced
  12.5% → 8.6%
• Steel Dynamics−95%fewer sharesReduced
  1.1% → 0.1%
• Centurion Acquisition−1.1 ppof portfolioSold out
  1.1% → —
• STMicroelectronics−56%fewer sharesReduced
  0.9% → 0.9%
• MercadoLibre+0.9 ppof portfolioNew
  — → 0.9%
• SIM Acquisition Corp. I−0.9 ppof portfolioSold out
  0.9% → —
• Sea+0.9 ppof portfolioNew
  — → 0.9%
• Graf Global−0.8 ppof portfolioSold out
  0.8% → —
• Poet Technologies−0.8 ppof portfolioSold out
  0.8% → —
• Weyerhaeuser−87%fewer sharesReduced
  0.9% → 0.1%

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• Aris Water SolutionsARIS8.6%
• Algoma Steel GroupASTL3.8%
• Churchill Capital Corp XIICXII2.4%
• Drugs Made In America Acquisition IIDMII2.3%
• NexGen EnergyNXE2.1%
• Cartesian Growth Corporation IVCGCFU(unit)2.0%
• New Providence Acquisition Corp. III/CaymanNPAC1.9%
• Inflection Point Acquisition Corp. VIIPFX1.7%
• Fifth ERA Acquisition Corp IFERA1.7%
• TransaltaTAC1.5%
• Futurecorp Space AcquisitionFTRA/U(unit)1.5%
• MOZAYYX AcquisitionMZYX1.5%
• Idea AcquisitionIACO1.5%
• Interprivate Investment Partners VIPVVU(unit)1.4%
• Churchill Capital Corp XICCXI1.4%
• Cardiol TherapeuticsCRDL1.4%
• Republic Digital AcquisitionRDAG1.4%
• Launch One AcquisitionLPAA1.4%
• Cantor Equity Partners IVCEPF1.3%
• Iron Horse Acquisition IIIRHO1.3%
• Meshflow AcquisitionMESH1.3%
• Wilco 63WLCOU(unit)1.3%
• Qdro AcquisitionQADR1.3%
• AptivAPTV1.3%
• Inflection Point Acquisition Corp. III1.2%
• HCM IV AcquisitionHACQ1.2%
• GP-Act III AcquisitionGPAT1.2%
• Cantor Equity Partners VIICAES1.2%
• Cantor Equity Partners VCEPV1.0%
• WEN AcquisitionWENN1.0%
• Aldabra 4 Liquidity Opportunity VehicleALOV1.0%
• General MotorsGM1.0%
• Zone FrontierZONE1.0%
• M3-brigade Acquisition VIMBVI0.9%
• MercadoLibreMELI0.9%
• Silverbox Corp IVSBXD0.9%
• Lionheart HoldingsCUB0.9%
• United Acquisition Corp. IUAC0.9%
• Futurecrest AcquisitionFCRS0.9%
• HCM III AcquisitionHCMA0.9%
• SeaSE0.9%
• STMicroelectronicsSTM0.9%
• Gores Holdings XIGHXIU(unit)0.9%
• Trailblazer AcquisitionBLZR0.9%
• American Drive AcquisitionADAC0.8%
• Launchpad Cadenza Acquisition Corp ILPCV0.8%
• RMG ML Sports HoldingsSHOTU(unit)0.8%
• Denison MinesDNN0.7%
• SNAPSNAP0.7%
• Snow Rothschild AcquisitionISNRU(unit)0.7%
• Ithax Acquisition Corp IIIITHA0.7%
• Aeon Acquisition IAESPU(unit)0.7%
• SUI Group HoldingsSUIG0.7%
• Pioneer Acquisition IPACH0.7%
• Oxley Bridge AcquisitionOBA0.6%
• Newhold Investment Corp III0.6%
• Silverbox Corp VSBXE0.6%
• D. Boral Acquisition IDBCA0.6%
• American Exceptionalism Acquisition Corp. AAEXA0.6%
• Gores Holdings XGTEN0.6%
• Crane Harbor Acquisition Corp. IICRAN0.6%
• Andretti Acquisition Corp. IIPOLE0.5%
• Co2 Energy TransitionNOEM0.5%
• 1rt AcquisitionONCH0.5%
• Spring Valley Acquisition Corp. IVSVIV0.5%
• Iris Acquisition Corp IIIRAB0.5%
• Jumia TechnologiesJMIA0.5%
• Alibaba Group HoldingBABA0.5%
• MosaicMOS0.5%
• Launch Two AcquisitionLPBB0.4%
• FIGX Capital AcquisitionFIGX0.4%
• Mountain Lake Acquisition Corp. IIMLAA0.4%
• Cambridge AcquisitionCAQ0.4%
• Newbury Street II AcquisitionNTWO0.4%
• VersigentVGNT0.4%
• Profound MedicalPROF0.4%
• Cantor Equity Partners VICEPS0.4%
• Twelve Seas Investment Co III/CaymanTWLV0.3%
• Bluerock AcquisitionBLRK0.3%
• M EVO Global Acquisition Corp IIMEVO0.3%
• SharplinkSBET0.3%
• AutonationAN0.3%
• Keel InfrastructureKEEL0.3%
• JAB Acquisition Corp IATLQU(unit)0.3%
• Art Technology AcquisitionARTC0.3%
• BHAV AcquisitionBHAV0.3%
• StellantisSTLA0.3%
• Inflection Point Acquisition Corp. VIIIPXG0.3%
• Yorkville International CapitalYICCU(unit)0.3%
• Archimedes Tech Spac Partners IIIARCI0.3%
• Social Commerce PartnersSCPQ0.3%
• Muzero AcquisitionMUZE0.3%
• InfleqtionINFQ/WS(warrant)0.3%
• Stellar V CapitalSVCC0.3%
• Cronos GroupCRON0.2%
• Worthington SteelWS0.2%
• Blue Acquisition Corp/CaymanBACC0.2%
• Lightwave AcquisitionLWAC0.2%
• Range Capital Acquisition Corp IIRNGT0.2%
• X3 AcquisitionXCBE0.2%