2026 Q1 Portfolio Activity
In 2026 Q1, MMCAP International Inc. SPC maintained a portfolio of 264 distinct positions. The most significant new addition was STMicroelectronics NV, now representing 0.92% of the total fund value. They heavily accumulated shares in XANADU QUANTUM TECHNOLO-CL B, increasing the position by 464427.0%. The fund also reduced its exposure to Aris Mining Corp by 43.4%.
Position History
hover any row below to update
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Total Positions
264
Quarter
2026 Q1
Top Holding
ARMN (12.5%)
Top 10 Concentration
35.3%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 264
MMCAP International Inc. SPC Full Holdings List — 2026 Q1
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
ARMN
Aris Mining Cor...
|
Unknown | 12.53% | 22.44% |
#1
Prev: #1
|
6.0 |
—
|
-5,988,919 | -43.4% |
P
S
|
7,815,142 | $145,153,605 | 2023 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ASTL
Algoma Steel Gr...
|
Basic Materials | 4.58% | 4.71% |
#2
Prev: #2
|
5.3 |
—
|
1,357,761 | 11.8% |
P
S
|
12,845,622 | $53,052,419 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
N/A
XANADU QUANTUM ...
|
|
Unknown | 4.15% | — |
#3
Prev: #—
|
6.2 |
—
|
6,875,000 | — |
NEW
|
6,875,000 | $48,125,000 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
NXE
NexGen Energy S...
|
Energy | 2.43% | 2.23% |
#4
2
Prev: #6
|
2.5 |
—
|
no change | no change |
P
S
|
2,429,898 | $28,186,817 | 2020 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
N/A
Churchill Capit...
|
|
Unknown | 2.39% | 2.76% |
#5
2
Prev: #3
|
2.5 |
—
|
no change | no change |
P
S
|
2,700,000 | $27,675,000 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
N/A
Drugs Made In A...
|
|
Unknown | 2.32% | — |
#6
Prev: #—
|
4.4 |
—
|
2,700,000 | — |
NEW
|
2,700,000 | $26,919,000 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
N/A
New Providence ...
|
|
Unknown | 1.95% | 2.26% |
#7
2
Prev: #5
|
1.8 |
—
|
no change | no change |
P
S
|
2,200,000 | $22,572,000 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
CRDL
Cardiol Therape...
|
Healthcare | 1.79% | 0.02% |
#8
117
Prev: #125
|
3.7 |
—
|
15,143,367 | 7247.4% |
P
S
|
15,352,317 | $20,725,628 | 2021 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
FERA
Fifth Era Acqui...
|
Financial Services | 1.69% | 1.95% |
#9
2
Prev: #7
|
1.7 |
—
|
no change | no change |
P
S
|
1,900,000 | $19,570,000 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
N/A
MOZAYYX Acquisi...
|
|
Unknown | 1.50% | — |
#10
Prev: #—
|
4.1 |
—
|
1,750,000 | — |
NEW
|
1,750,000 | $17,413,025 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
N/A
Idea Acquisitio...
|
|
Unknown | 1.50% | — |
#11
Prev: #—
|
4.1 |
—
|
1,750,000 | — |
NEW
|
1,750,000 | $17,342,500 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
APTV
Aptiv PLC
|
Consumer Cyclical | 1.40% | 1.30% |
#12
7
Prev: #19
|
3.1 |
—
|
62,824 | 36.9% |
P
S
|
233,092 | $16,185,908 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
N/A
Republic Digita...
|
|
Unknown | 1.38% | 1.58% |
#13
4
Prev: #9
|
1.6 |
—
|
no change | no change |
P
S
|
1,565,000 | $16,009,950 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
LPAA
Launch One Acqu...
|
Financial Services | 1.37% | 1.57% |
#14
4
Prev: #10
|
1.5 |
—
|
no change | no change |
P
S
|
1,480,000 | $15,850,800 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
N/A
Cantor Equity P...
|
|
Unknown | 1.32% | 1.54% |
#15
4
Prev: #11
|
1.5 |
—
|
no change | no change |
P
S
|
1,500,000 | $15,285,000 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
N/A
Inflection Poin...
|
|
Unknown | 1.31% | — |
#16
Prev: #—
|
4.0 |
—
|
1,500,000 | — |
NEW
|
1,500,000 | $15,180,000 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
IRHOU
Iron Horse Acqu...
|
Financial Services | 1.29% | 1.49% |
#18
5
Prev: #13
|
1.5 |
—
|
no change | no change |
P
S
|
1,500,000 | $14,940,000 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
N/A
Meshflow Acquis...
|
|
Unknown | 1.29% | 1.50% |
#17
5
Prev: #12
|
1.5 |
—
|
no change | no change |
P
S
|
1,500,000 | $14,940,000 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
N/A
QDRO Acquisitio...
|
|
Unknown | 1.28% | — |
#19
Prev: #—
|
4.0 |
—
|
1,500,000 | — |
NEW
|
1,500,000 | $14,865,000 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
N/A
Inflection Poin...
|
|
Unknown | 1.23% | 1.42% |
#20
4
Prev: #16
|
1.5 |
—
|
no change | no change |
P
S
|
1,400,000 | $14,301,000 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
N/A
HCM IV Acquisit...
|
|
Unknown | 1.21% | — |
#21
Prev: #—
|
4.0 |
—
|
1,400,000 | — |
NEW
|
1,400,000 | $14,042,000 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
N/A
CARTESIAN GROWT...
|
|
Unknown | 1.20% | 1.39% |
#22
5
Prev: #17
|
1.5 |
—
|
no change | no change |
P
S
|
1,350,000 | $13,844,250 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
GPAT
GP-Act III Acqu...
|
Financial Services | 1.19% | 1.36% |
#23
5
Prev: #18
|
1.5 |
—
|
no change | no change |
P
S
|
1,275,000 | $13,821,000 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
STLD
Steel Dynamics ...
|
Basic Materials | 1.15% | 0.18% |
#24
62
Prev: #86
|
3.5 |
—
|
63,197 | 590.0% |
P
S
|
73,908 | $13,303,440 | 2024 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ALF
Centurion Acqui...
|
Financial Services | 1.09% | 1.25% |
#25
5
Prev: #20
|
1.4 |
—
|
no change | no change |
P
S
|
1,175,000 | $12,643,000 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
N/A
Wen Acquisition...
|
|
Unknown | 1.05% | 1.21% |
#26
4
Prev: #22
|
1.4 |
—
|
no change | no change |
P
S
|
1,200,000 | $12,216,000 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
N/A
Cantor Equity P...
|
|
Unknown | 1.05% | 1.23% |
#27
6
Prev: #21
|
1.4 |
—
|
no change | no change |
P
S
|
1,200,000 | $12,120,000 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
N/A
Aldabra 4 Liqui...
|
|
Unknown | 1.03% | — |
#28
Prev: #—
|
3.9 |
—
|
1,200,000 | — |
NEW
|
1,200,000 | $11,940,000 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
N/A
M3-Brigade Acqu...
|
|
Unknown | 0.95% | 1.10% |
#29
6
Prev: #23
|
1.4 |
—
|
no change | no change |
P
S
|
1,100,000 | $11,055,000 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
STM
STMicroelectron...
|
Technology | 0.92% | — |
#30
Prev: #—
|
3.9 |
—
|
309,925 | — |
NEW
|
309,925 | $10,707,909 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
CUB
Lionheart Holdi...
|
Financial Services | 0.91% | 1.04% |
#31
6
Prev: #25
|
1.4 |
—
|
no change | no change |
P
S
|
980,000 | $10,544,800 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
SIMA
SIM Acquisition...
|
Financial Services | 0.91% | 1.04% |
#32
6
Prev: #26
|
1.4 |
—
|
no change | no change |
P
S
|
980,000 | $10,505,600 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
SBXD
Silverbox Corp ...
|
Financial Services | 0.91% | 1.04% |
#33
6
Prev: #27
|
1.4 |
—
|
no change | no change |
P
S
|
980,000 | $10,486,000 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
N/A
United Acquisit...
|
|
Unknown | 0.90% | — |
#34
Prev: #—
|
3.9 |
—
|
1,050,000 | — |
NEW
|
1,050,000 | $10,396,680 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
HYAC
Haymaker Acquis...
|
Financial Services | 0.90% | 1.02% |
#35
6
Prev: #29
|
1.4 |
—
|
no change | no change |
P
S
|
900,000 | $10,386,000 | 2023 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
DNN
Denison Mines C...
|
Energy | 0.87% | 1.92% |
#36
28
Prev: #8
|
0.3 |
—
|
-4,362,000 | -60.4% |
P
S
|
2,857,531 | $10,087,084 | 2020 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
N/A
HCM III Acquisi...
|
|
Unknown | 0.87% | 1.00% |
#37
6
Prev: #31
|
1.3 |
—
|
no change | no change |
P
S
|
1,000,000 | $10,080,000 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
N/A
FutureCrest Acq...
|
|
Unknown | 0.87% | 1.01% |
#38
8
Prev: #30
|
1.3 |
—
|
no change | no change |
P
S
|
1,000,000 | $10,060,000 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
WY
Weyerhaeuser Co
|
Real Estate | 0.87% | 0.78% |
#39
1
Prev: #38
|
2.8 |
—
|
83,884 | 25.6% |
P
S
|
411,384 | $10,050,111 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
N/A
Trailblazer Acq...
|
|
Unknown | 0.87% | 1.00% |
#40
8
Prev: #32
|
1.3 |
—
|
no change | no change |
P
S
|
1,000,000 | $10,050,000 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
N/A
Launchpad Caden...
|
|
Unknown | 0.86% | 1.00% |
#41
8
Prev: #33
|
1.3 |
—
|
no change | no change |
P
S
|
1,000,000 | $10,000,000 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
N/A
American Drive ...
|
|
Unknown | 0.86% | 1.00% |
#42
8
Prev: #34
|
1.3 |
—
|
no change | no change |
P
S
|
1,000,000 | $9,990,000 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
GM
General Motors ...
|
Consumer Cyclical | 0.86% | 0.54% |
#43
8
Prev: #51
|
3.3 |
—
|
67,678 | 102.0% |
P
S
|
134,016 | $9,984,192 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
SNAP
Snap Inc
|
Communication Services | 0.78% | — |
#44
Prev: #—
|
3.8 |
—
|
1,958,828 | — |
NEW
|
1,958,828 | $9,010,609 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
GRAF
Graf Global Cor...
|
Financial Services | 0.77% | 0.89% |
#45
9
Prev: #36
|
1.3 |
—
|
no change | no change |
P
S
|
830,000 | $8,889,300 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
POET
POET Technologi...
|
Technology | 0.77% | 0.97% |
#46
11
Prev: #35
|
0.8 |
—
|
-32,167 | -2.1% |
P
S
|
1,494,038 | $8,874,586 | 2022 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
MCVT
Sui Group Holdi...
|
Unknown | 0.69% | 1.03% |
#47
19
Prev: #28
|
2.3 |
—
|
509,395 | 8.3% |
P
S
|
6,650,751 | $8,047,409 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
N/A
ITHAX Acquisiti...
|
|
Unknown | 0.69% | 0.80% |
#48
11
Prev: #37
|
1.3 |
—
|
no change | no change |
P
S
|
800,000 | $7,968,000 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
N/A
Cantor Equity P...
|
|
Unknown | 0.67% | 0.76% |
#49
10
Prev: #39
|
1.3 |
—
|
no change | no change |
P
S
|
750,000 | $7,732,500 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
N/A
Pioneer Acquisi...
|
|
Unknown | 0.66% | 0.75% |
#50
8
Prev: #42
|
1.3 |
—
|
no change | no change |
P
S
|
750,000 | $7,597,500 | — | 13F Filing | 2026-03-31 | 2026-05-15 |
Showing 1-50 of 264 holdings