MMCAP International Inc. SPC — 13F Holdings & Portfolio
CIK 1304857 · latest 13F-HR filed 2026-08-14
MMCAP International Inc. SPC manages $1.18B in 13F-reported U.S. long-equity assets across 304 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are ARIS (8.63%), ASTL (3.76%), CXII (2.44%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 124 new positions and exited 65; 64 existing positions rose in reported value and 60 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
Long-equity book
Distinct positions
Filed 2026-08-14
vs 2026-03-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q2 26Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.
Sector mix
% of 13F valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q1 26 → Q2 26Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.
13F assets and positions
4 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 28.1%Cumulative share of the portfolio held in the largest N positions.
| Name | Title / Status | Ownership | Type |
|---|
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- NewHold Investment Corp III$5.5M +267.6%
- Cleancore Solutions Inc$5.4M +90.3%
- Quantum X Labs Inc$1.8M +804.2%
- General Motors Co$1.6M +16.3%
- Mosaic Co/The$1.2M +28.9%
Top Trims
- Aris Mining Corp-$43.4M -29.9%
- Steel Dynamics Inc-$12.4M -93.2%
- Weyerhaeuser Co-$8.8M -87.5%
- Algoma Steel Group Inc-$8.7M -16.4%
- Encore Energy Corp-$5.1M -67.4%
New Positions
- Churchill Capital Corp XII$28.8M
- Cartesian Growth Corp IV$23.5M
- Inflection Point Acquisition C$20.0M
- TransAlta Corp$18.1M
- FutureCorp Space Acquisition 1$17.7M
Exited Positions
- XANADU QUANTUM TECHNOLO-CL B$48.1M
- Churchill Capital Corp XI$27.7M
- MOZAYYX Acquisition Corp$17.4M
- Idea Acquisition Corp$17.3M
- Inflection Point Acquisition C$15.2M
MMCAP International Inc. SPC Holdings (2026-06-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | Aris Mining Corp | ARIS | 04040Y109 | $101.8M | 8.63% | 6,830,759 | SH |
| 2 | Algoma Steel Group Inc | ASTL | 015658107 | $44.4M | 3.76% | 10,954,738 | SH |
| 3 | Churchill Capital Corp XII | CXII | G2131M102 | $28.8M | 2.44% | 2,700,000 | SH |
| 4 | Drugs Made In America Acquisit | DMII | G2851K104 | $27.2M | 2.30% | 2,700,000 | SH |
| 5 | NexGen Energy SEG | NXE | 65340P106 | $25.3M | 2.14% | 2,694,345 | SH |
| 6 | Cartesian Growth Corp IV | CGCFU | G19316127 | $23.5M | 1.99% | 2,350,000 | SH |
| 7 | New Providence Acquisition Cor | NPAC | G6476A102 | $22.8M | 1.94% | 2,200,000 | SH |
| 8 | Inflection Point Acquisition C | IPFX | G4790S107 | $20.0M | 1.69% | 1,931,762 | SH |
| 9 | Fifth Era Acquisition Corp I | FERA | G3415K101 | $19.8M | 1.68% | 1,900,000 | SH |
| 10 | TransAlta Corp | TAC | 89346D107 | $18.1M | 1.54% | 1,310,100 | SH |
| 11 | FutureCorp Space Acquisition 1 | FTRA.U | G37307124 | $17.7M | 1.50% | 1,750,000 | SH |
| 12 | MOZAYYX Acquisition Corp | MZYX | G63113107 | $17.4M | 1.48% | 1,750,000 | SH |
| 13 | Idea Acquisition Corp | IACO | G4727U100 | $17.3M | 1.47% | 1,750,000 | SH |
| 14 | InterPrivate Investment Partne | IPVVU | G49097127 | $16.9M | 1.43% | 1,700,000 | SH |
| 15 | Churchill Capital Corp XI | CCXI | G2131A108 | $16.6M | 1.41% | 950,474 | SH |
| 16 | Cardiol Therapeutics Inc | CRDL | 14161Y200 | $16.5M | 1.40% | 15,598,560 | SH |
| 17 | Republic Digital Acquisition C | RDAG | G7515A103 | $16.2M | 1.37% | 1,565,000 | SH |
| 18 | Launch One Acquisition Corp | LPAA | G5S86M100 | $16.0M | 1.36% | 1,480,000 | SH |
| 19 | Cantor Equity Partners IV Inc | CEPF | G1828E100 | $15.6M | 1.32% | 1,500,000 | SH |
| 20 | Iron Horse Acquisition II Corp | IRHO | 46283H103 | $15.0M | 1.28% | 1,500,000 | SH |
| 21 | Meshflow Acquisition Corp | MESH | G6032N101 | $15.0M | 1.27% | 1,500,000 | SH |
| 22 | Wilco 63 Corp | WLCOU | G9640P120 | $14.9M | 1.27% | 1,500,000 | SH |
| 23 | QDRO Acquisition Corp | QADR | G7310E102 | $14.9M | 1.26% | 1,500,000 | SH |
| 24 | Aptiv PLC | APTV | G3265R107 | $14.8M | 1.25% | 240,889 | SH |
| 25 | Inflection Point Acquisition C | IPCX | G47875102 | $14.5M | 1.23% | 1,400,000 | SH |
| 26 | HCM IV Acquisition Corp | HACQ | G4365S102 | $14.0M | 1.19% | 1,400,000 | SH |
| 27 | GP-Act III Acquisition Corp | GPAT | G4035N103 | $13.9M | 1.17% | 1,275,000 | SH |
| 28 | Cantor Equity Partners VII Inc | CAES | G1828W100 | $13.6M | 1.15% | 1,350,000 | SH |
| 29 | Cantor Equity Partners V Inc | CEPV | G1828S109 | $12.4M | 1.05% | 1,200,000 | SH |
| 30 | Wen Acquisition Corp | WENN | G9R39C103 | $12.3M | 1.05% | 1,200,000 | SH |
| 31 | Aldabra 4 Liquidity Opportunit | ALOV | G01900102 | $11.9M | 1.01% | 1,200,000 | SH |
| 32 | General Motors Co | GM | 37045V100 | $11.6M | 0.98% | 150,635 | SH |
| 33 | Cleancore Solutions Inc | ZONE | 184492106 | $11.4M | 0.97% | 13,950,444 | SH |
| 34 | M3-Brigade Acquisition VI Corp | MBVI | G63221108 | $11.1M | 0.94% | 1,100,000 | SH |
| 35 | MercadoLibre Inc | MELI | 58733R102 | $10.7M | 0.91% | 6,298 | SH |
| 36 | Silverbox Corp IV | SBXD | G81354105 | $10.6M | 0.90% | 980,000 | SH |
| 37 | Lionheart Holdings | CUB | G5501C109 | $10.6M | 0.89% | 980,000 | SH |
| 38 | United Acquisition Corp I | UAC | G92ALM108 | $10.4M | 0.88% | 1,050,000 | SH |
| 39 | FutureCrest Acquisition Corp | FCRS | G3730U107 | $10.3M | 0.87% | 1,000,000 | SH |
| 40 | HCM III Acquisition Corp | HCMA | G4365E103 | $10.3M | 0.87% | 1,000,000 | SH |
| 41 | Sea Ltd | SE | 81141R100 | $10.2M | 0.87% | 106,638 | SH |
| 42 | STMicroelectronics NV | STM | 861012102 | $10.2M | 0.86% | 135,542 | SH |
| 43 | Gores Holdings XI Inc | GHXIU | G40008123 | $10.2M | 0.86% | 1,000,000 | SH |
| 44 | Trailblazer Acquisition Corp | BLZR | G9009S103 | $10.1M | 0.86% | 1,000,000 | SH |
| 45 | American Drive Acquisition Co | ADAC | G0R91M105 | $10.0M | 0.85% | 1,000,000 | SH |
| 46 | Launchpad Cadenza Acquisition | LPCV | G6001S107 | $10.0M | 0.85% | 1,000,000 | SH |
| 47 | RMG ML Sports Holdings | SHOTU | G7610P120 | $9.2M | 0.78% | 925,000 | SH |
| 48 | Denison Mines Corp | DNN | 248356107 | $8.7M | 0.74% | 2,857,531 | SH |
| 49 | Snap Inc | SNAP | 83304A106 | $8.7M | 0.74% | 1,958,828 | SH |
| 50 | Snow Rothschild Acquisition Co | ISNRU | G8251A125 | $8.5M | 0.72% | 850,000 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-14 | $1.18B | 304 | 0000912282-26-001105 |
| 2026-03-31 | 2026-05-15 | $1.16B | 244 | 0000912282-26-000731 |
| 2025-12-31 | 2026-02-09 | $1.00B | 209 | 0000912282-26-000275 |
| 2025-09-30 | 2025-11-10 | $859.8M | 172 | 0000912282-25-001210 |
94 SOLARIS AVE., CAMANA BAY, PO BOX 1348
GRAND CAYMAN KY1-1108