HEIGHTS CAPITAL MANAGEMENT, INC

All Holdings — 2025 Q4

AI Portfolio Summary
In 2025 Q4, HEIGHTS CAPITAL MANAGEMENT, INC maintained a portfolio of 259 distinct positions. The most significant new addition to the portfolio was CHURCHILL CAP CORP X, which now represents 1.83% of the total fund value. Conversely, HEIGHTS CAPITAL MANAGEMENT, INC completely exited their position in IMMUNITYBIO INC.
PCA Score Concentration Risk
Risk ENB
Total Positions
259
Quarter
2025 Q4
Top Holding
FLUT (22.7%)
Top 10 Concentration
44.6%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
1-25 of 259
Stock History Sector / Type Port % Prev % Rank / Prev Conviction Change % Change Influence Shares Mkt Value Avg Cost Price Held 1st Owned Source Source Date Date Reported
FLUT
FLUTTER ENTMT P...
Consumer Cyclical 22.69% 21.29% #1
Prev: #1
7.0 no change no change
P
S
294,180 $63,260,467 2024 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
NNE
NANO NUCLEAR EN...
PUT
PUT Option 5.24% 10.21% #2
Prev: #2
3.6 -321,100 -34.5%
P
S
608,500 $14,610,085 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
FGMC
FG MERGER II CO...
Financial Services 2.84% 2.25% #3 4
Prev: #7
3.1 no change no change
P
S
790,000 $7,931,600 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
JACS
JACKSON ACQUISI...
Financial Services 2.62% 2.07% #4 5
Prev: #9
2.5 no change no change
P
S
700,000 $7,294,000 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
DMAA
DRUGS MADE IN A...
Financial Services 2.42% 1.90% #5 5
Prev: #10
2.5 no change no change
P
S
650,000 $6,740,500 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
DRUGS MADE IN A...
Unknown 1.86% 1.47% #6 7
Prev: #13
1.7 no change no change
P
S
519,400 $5,194,000 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
CHURCHILL CAP C...
Unknown 1.83% #7
Prev: #—
4.2 499,000 no change
NEW
499,000 $5,094,790 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
KOCHAV DEFENSE ...
Unknown 1.82% 1.43% #8 6
Prev: #14
1.7 no change no change
P
S
500,000 $5,070,000 13F Filing 2025-12-31 2026-02-14 (Est.)
IRHOU
IRON HORSE ACQU...
Financial Services 1.68% #9
Prev: #—
4.2 470,000 no change
NEW
470,000 $4,671,800 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
EMPD
EMPERY DIGITAL ...
Consumer Cyclical 1.64% 2.14% #10 2
Prev: #8
1.7 no change no change
P
S
1,000,000 $4,565,000 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
NMP ACQUISITION...
Unknown 1.62% #11
Prev: #—
4.1 450,000 no change
NEW
450,000 $4,509,000 13F Filing 2025-12-31 2026-02-14 (Est.)
GPAT
GP-ACT III ACQU...
Financial Services 1.60% 1.27% #12 5
Prev: #17
1.1 -5,079 -1.2%
P
S
416,096 $4,452,227 2024 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
ABSI
ABSCI CORPORATI...
Healthcare 1.33% 1.73% #13 2
Prev: #11
0.5 -934,800 -46.7%
P
S
1,065,640 $3,719,084 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
FERA
FIFTH ERA ACQUI...
Financial Services 1.29% 1.01% #14 5
Prev: #19
1.5 no change no change
P
S
350,000 $3,587,500 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
NYXH
NYXOAH S A
Healthcare 1.28% #15
Prev: #—
4.0 777,188 no change
NEW
777,188 $3,575,065 2024 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
EMMIS ACQUISITI...
Unknown 1.25% #16
Prev: #—
4.0 350,000 no change
NEW
350,000 $3,482,500 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
TWELVE SEAS INV...
Unknown 1.25% #17
Prev: #—
4.0 350,000 no change
NEW
350,000 $3,482,500 13F Filing 2025-12-31 2026-02-14 (Est.)
FVN
FUTURE VISION I...
Financial Services 1.23% 0.97% #18 3
Prev: #21
1.5 no change no change
P
S
325,000 $3,438,500 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
FSHP
FLAG SHIP ACQUI...
Financial Services 1.18% 0.93% #19 3
Prev: #22
1.0 -1,878 -0.6%
P
S
306,569 $3,298,682 2024 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
CRESCENT BIOPHA...
Unknown 1.12% #20
Prev: #—
3.9 264,000 no change
NEW
264,000 $3,131,040 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
COPLEY ACQUISIT...
Unknown 1.10% 0.86% #21 2
Prev: #23
1.4 no change no change
P
S
300,000 $3,081,000 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
AI INFRASTRUCTU...
Unknown 1.10% #22
Prev: #—
3.9 300,000 no change
NEW
300,000 $3,054,000 13F Filing 2025-12-31 2026-02-14 (Est.)
VACH
VOYAGER ACQUISI...
Financial Services 0.96% 0.75% #23 5
Prev: #28
1.4 no change no change
P
S
250,000 $2,667,500 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
PLMK
PLUM ACQUISITIO...
Financial Services 0.94% 0.74% #24 6
Prev: #30
1.4 no change no change
P
S
250,000 $2,607,500 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
KYTX
KYVERNA THERAPE...
Healthcare 0.92% #25
Prev: #—
3.9 271,822 no change
NEW
271,822 $2,555,127 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
IBRX
IMMUNITYBIO INC
Healthcare 0.00% 4.60%
Sold All 😨
(Was: #3)
0.0 -6,565,709 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
NNE
NANO NUCLEAR EN...
Industrials 0.00% 4.02%
Sold All 😨
(Was: #4)
0.0 -365,867 -100.0%
CLOSED
$— 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
OATLY GROUP AB
Bond/Debt 0.00% 3.06%
Sold All 😨
(Was: #5)
0.0 -12,052,970 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
DFDV
DEFI DEVELOPMEN...
Financial Services 0.00% 2.56%
Sold All 😨
(Was: #6)
0.0 -586,312 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
MBAV
M3BRIGADE ACQUI...
Financial Services 0.00% 1.50%
Sold All 😨
(Was: #12)
0.0 -500,000 -100.0%
CLOSED
$— 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
CABA
CABALETTA BIO I...
Healthcare 0.00% 1.39%
Sold All 😨
(Was: #15)
0.0 -2,084,202 -100.0%
CLOSED
$— 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
NMP ACQUISITION...
Unknown 0.00% 1.30%
Sold All 😨
(Was: #16)
0.0 -450,000 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
AGRIFORCE GROWI...
Unknown 0.00% 1.20%
Sold All 😨
(Was: #18)
0.0 -1,300,000 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
EMMIS ACQUISITI...
Unknown 0.00% 1.00%
Sold All 😨
(Was: #20)
0.0 -350,000 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
BMEA
BIOMEA FUSION I...
Healthcare 0.00% 0.83%
Sold All 😨
(Was: #24)
0.0 -1,437,646 -100.0%
CLOSED
$— 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
MBOT
MICROBOT MED IN...
Healthcare 0.00% 0.77%
Sold All 😨
(Was: #25)
0.0 -883,104 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
COLUMBUS CIRCLE...
Unknown 0.00% 0.76%
Sold All 😨
(Was: #26)
0.0 -264,561 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
EVEX
EVE HLDG INC
Industrials 0.00% 0.76%
Sold All 😨
(Was: #27)
0.0 -696,055 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
WGRX
WELLGISTICS HEA...
Healthcare 0.00% 0.74%
Sold All 😨
(Was: #29)
0.0 -2,917,078 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
ORIGIN INVT COR...
Unknown 0.00% 0.72%
Sold All 😨
(Was: #31)
0.0 -250,000 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
OXLEY BRIDGE AC...
Unknown 0.00% 0.72%
Sold All 😨
(Was: #32)
0.0 -250,000 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
LTM
LATAM AIRLINES ...
Industrials 0.00% 0.64%
Sold All 😨
(Was: #34)
0.0 -50,000 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
IBAC
IB ACQUISITION ...
Financial Services 0.00% 0.62%
Sold All 😨
(Was: #35)
0.0 -207,787 -100.0%
CLOSED
$— 2024 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
SILVER PEGASUS ...
Unknown 0.00% 0.58%
Sold All 😨
(Was: #40)
0.0 -200,000 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
A PARADISE ACQU...
Unknown 0.00% 0.57%
Sold All 😨
(Was: #45)
0.0 -200,000 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
BEST SPAC I ACQ...
Unknown 0.00% 0.51%
Sold All 😨
(Was: #48)
0.0 -175,000 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
QUANTUMSPHERE A...
Unknown 0.00% 0.43%
Sold All 😨
(Was: #51)
0.0 -150,000 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
OTLY
OATLY GROUP AB
Consumer Defensive 0.00% 0.42%
Sold All 😨
(Was: #53)
0.0 -91,239 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
UPXI
UPEXI INC
Communication Services 0.00% 0.41%
Sold All 😨
(Was: #54)
0.0 -250,000 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
ADCT
ADC THERAPEUTIC...
Healthcare 0.00% 0.37%
Sold All 😨
(Was: #55)
0.0 -326,766 -100.0%
CLOSED
$— 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
GLOBA TERRA ACQ...
Unknown 0.00% 0.36%
Sold All 😨
(Was: #56)
0.0 -125,000 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
STARRY SEA ACQU...
Unknown 0.00% 0.29%
Sold All 😨
(Was: #62)
0.0 -100,000 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
INDIGO ACQUISIT...
Unknown 0.00% 0.29%
Sold All 😨
(Was: #63)
0.0 -100,000 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
FIGX CAP ACQUIS...
Unknown 0.00% 0.29%
Sold All 😨
(Was: #64)
0.0 -100,000 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
PIONEER ACQUISI...
Unknown 0.00% 0.29%
Sold All 😨
(Was: #66)
0.0 -100,000 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
DTSQ
DT CLOUD STAR A...
Financial Services 0.00% 0.29%
Sold All 😨
(Was: #67)
0.0 -95,695 -100.0%
CLOSED
$— 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
DYCQ
DT CLOUD ACQUIS...
Financial Services 0.00% 0.27%
Sold All 😨
(Was: #70)
0.0 -85,207 -100.0%
CLOSED
$— 2024 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
GSRT
GSR III ACQUISI...
Financial Services 0.00% 0.18%
Sold All 😨
(Was: #75)
0.0 -60,900 -100.0%
CLOSED
$— 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
ASPC
A SPAC III ACQU...
Financial Services 0.00% 0.18%
Sold All 😨
(Was: #76)
0.0 -60,000 -100.0%
CLOSED
$— 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
NA
NANO LABS LTD
Technology 0.00% 0.17%
Sold All 😨
(Was: #80)
0.0 -111,033 -100.0%
CLOSED
$— 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
DFDV
DEFI DEVELOPMEN...
PUT
PUT Option 0.00% 0.16%
Sold All 😨
(Was: #82)
0.0 -36,800 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
BLUE ACQUISITIO...
Unknown 0.00% 0.14%
Sold All 😨
(Was: #85)
0.0 -50,000 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
CHAC
CRANE HBR ACQUI...
Financial Services 0.00% 0.14%
Sold All 😨
(Was: #86)
0.0 -50,000 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
SOLARIUS CAPITA...
Unknown 0.00% 0.14%
Sold All 😨
(Was: #89)
0.0 -50,000 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
AXIOM INTELLIGE...
Unknown 0.00% 0.14%
Sold All 😨
(Was: #90)
0.0 -50,000 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
LIGHTWAVE ACQUI...
Unknown 0.00% 0.14%
Sold All 😨
(Was: #93)
0.0 -50,000 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
RDAC
RISING DRAGON A...
Financial Services 0.00% 0.11%
Sold All 😨
(Was: #100)
0.0 -38,196 -100.0%
CLOSED
$— 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
HCM III ACQUISI...
Unknown 0.00% 0.11%
Sold All 😨
(Was: #101)
0.0 -36,855 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
VENDOME ACQUISI...
Unknown 0.00% 0.09%
Sold All 😨
(Was: #104)
0.0 -30,340 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
D. BORAL ARC AC...
Unknown 0.00% 0.07%
Sold All 😨
(Was: #107)
0.0 -25,057 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
FGMCR
FG MERGER II CO...
Unknown 0.00% 0.05%
Sold All 😨
(Was: #112)
0.0 -440,191 -100.0%
CLOSED
$— 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
ANSC
AGRICULTURE & N...
Financial Services 0.00% 0.04%
Sold All 😨
(Was: #114)
0.0 -14,231 -100.0%
CLOSED
$— 2024 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
COLUMBUS CIRCLE...
Unknown 0.00% 0.04%
Sold All 😨
(Was: #116)
0.0 -132,280 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
IMRX
IMMUNEERING COR...
Healthcare 0.00% 0.04%
Sold All 😨
(Was: #117)
0.0 -20,000 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
COHEN CIRCLE AC...
Unknown 0.00% 0.03%
Sold All 😨
(Was: #119)
0.0 -10,594 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
CLGN
COLLPLANT BIOTE...
Healthcare 0.00% 0.01%
Sold All 😨
(Was: #127)
0.0 -19,258 -100.0%
CLOSED
$— 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
PEPG
PEPGEN INC
Healthcare 0.00% 0.01%
Sold All 😨
(Was: #129)
0.0 -10,000 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
COLAR
COLUMBUS ACQUIS...
Unknown 0.00% 0.01%
Sold All 😨
(Was: #138)
0.0 -167,733 -100.0%
CLOSED
$— 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
MAYAR
MAYWOOD ACQUISI...
Unknown 0.00% 0.01%
Sold All 😨
(Was: #141)
0.0 -46,173 -100.0%
CLOSED
$— 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
GPATW
GP-ACT III ACQU...
Unknown 0.00% 0.01%
Sold All 😨
(Was: #142)
0.0 -95,375 -100.0%
CLOSED
$— 2024 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
AMPGW
AMPLITECH GROUP...
Unknown 0.00% 0.01%
Sold All 😨
(Was: #149)
0.0 -45,462 -100.0%
CLOSED
$— 2024 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
DYCQR
DT CLOUD ACQUIS...
Unknown 0.00% 0.00%
Sold All 😨
(Was: #155)
0.0 -72,300 -100.0%
CLOSED
$— 2024 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
AIFER
PANTAGES CAPITA...
Unknown 0.00% 0.00%
Sold All 😨
(Was: #160)
0.0 -58,400 -100.0%
CLOSED
$— 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
OYSTER ENTERPRI...
Unknown 0.00% 0.00%
Sold All 😨
(Was: #172)
0.0 -27,483 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
LEXXW
LEXARIA BIOSCIE...
Unknown 0.00% 0.00%
Sold All 😨
(Was: #174)
0.0 -41,251 -100.0%
CLOSED
$— 2024 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
DTSQR
DT CLOUD STAR A...
Unknown 0.00% 0.00%
Sold All 😨
(Was: #175)
0.0 -16,293 -100.0%
CLOSED
$— 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
EURKR
EUREKA ACQUISIT...
Unknown 0.00% 0.00%
Sold All 😨
(Was: #176)
0.0 -13,516 -100.0%
CLOSED
$— 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
TAVIR
TAVIA ACQUISITI...
Unknown 0.00% 0.00%
Sold All 😨
(Was: #177)
0.0 -13,802 -100.0%
CLOSED
$— 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
TBMCR
TRAILBLAZER MER...
Unknown 0.00% 0.00%
Sold All 😨
(Was: #178)
0.0 -11,714 -100.0%
CLOSED
$— 2024 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
RDACR
RISING DRAGON A...
Unknown 0.00% 0.00%
Sold All 😨
(Was: #179)
0.0 -16,385 -100.0%
CLOSED
$— 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
SVREW
SAVERONE 2014 L...
Unknown 0.00% 0.00%
Sold All 😨
(Was: #181)
0.0 -40,000 -100.0%
CLOSED
$— 2024 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
HYMCL
HYCROFT MINING ...
Basic Materials 0.00% 0.00%
Sold All 😨
(Was: #182)
0.0 -15,174 -100.0%
CLOSED
$— 2024 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
Showing 1-25 of 259 holdings

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