MMCAP International Inc. SPC reported 176 positions worth $908.31M for the quarter ended Jun 30, 2026, down 7.5% on the prior quarter. It opened 61 new positions, added to 7, trimmed 13 and exited 42. Its largest holding is Aris Mining Corp at 11.2% of the portfolio.
Reported 13F market value at each quarter end. A change mixes trading with price moves in the positions held.
Dollar value of shares bought and sold each quarter, at that quarter’s price. It counts trading only, not price changes.
How many positions were opened, added to, trimmed or closed each quarter.
Share of reported value in each sector at every quarter end.
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| IPFX Inflection Point Acquisition Corp. VI | +1.93M | – | $19.97M | 2.2% |
| IACO Idea Acquisition Corp. | +1.75M | – | $17.34M | 1.91% |
| CCXI Churchill Capital Corp XI | +950.5K | – | $16.59M | 1.83% |
| IRHO Iron Horse Acquisition II Corp. | +1.50M | – | $15.04M | 1.66% |
| MESH Meshflow Acquisition Corp | +1.50M | – | $15.02M | 1.65% |
| HACQ HCM IV Acquisition Corp. | +1.40M | – | $14.04M | 1.55% |
| CAES Cantor Equity Partners VII, Inc. | +1.35M | – | $13.62M | 1.5% |
| ALOV Aldabra 4 Liquidity Opportunity Vehicle, Inc. | +1.20M | – | $11.93M | 1.31% |
| MELI Mercadolibre Inc | +6,298 | – | $10.69M | 1.18% |
| UAC United Acquisition Corp. I | +1.05M | – | $10.43M | 1.15% |
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| XNDU Xanadu Quantum Technologies Ltd | -6.88M | -100.0% | $48.13M | Exited |
| CCXIU Churchill Capital Corp XI | -2.70M | -100.0% | $27.68M | Exited |
| IACOU Idea Acquisition Corp. | -1.75M | -100.0% | $17.34M | Exited |
| STLD Steel Dynamics Inc | -70.0K | -94.7% | $16.06M | 0.099% |
| IPFXU Inflection Point Acquisition Corp. VI | -1.50M | -100.0% | $15.18M | Exited |
| IRHOU Iron Horse Acquisition II Corp. | -1.50M | -100.0% | $14.94M | Exited |
| MESHU Meshflow Acquisition Corp | -1.50M | -100.0% | $14.94M | Exited |
| ARIS Aris Mining Corp | -984.4K | -12.6% | $14.67M | 11.21% |
| HACQU HCM IV Acquisition Corp. | -1.40M | -100.0% | $14.04M | Exited |
| STM STMicroelectronics N.V. | -174.4K | -56.3% | $13.06M | 1.12% |
| Holding | Shares | Trade Value | Weight |
|---|---|---|---|
| IPFX Inflection Point Acquisition Corp. VI | +1.93M | $19.97M | 2.2% |
| IACO Idea Acquisition Corp. | +1.75M | $17.34M | 1.91% |
| CCXI Churchill Capital Corp XI | +950.5K | $16.59M | 1.83% |
| IRHO Iron Horse Acquisition II Corp. | +1.50M | $15.04M | 1.66% |
| MESH Meshflow Acquisition Corp | +1.50M | $15.02M | 1.65% |
| HACQ HCM IV Acquisition Corp. | +1.40M | $14.04M | 1.55% |
| CAES Cantor Equity Partners VII, Inc. | +1.35M | $13.62M | 1.5% |
| ALOV Aldabra 4 Liquidity Opportunity Vehicle, Inc. | +1.20M | $11.93M | 1.31% |
| MELI Mercadolibre Inc | +6,298 | $10.69M | 1.18% |
| UAC United Acquisition Corp. I | +1.05M | $10.43M | 1.15% |
| Holding | Shares Sold | Trade Value | Prior Weight |
|---|---|---|---|
| XNDU Xanadu Quantum Technologies Ltd | -6.88M | $48.13M | 4.9% |
| CCXIU Churchill Capital Corp XI | -2.70M | $27.68M | 2.82% |
| IACOU Idea Acquisition Corp. | -1.75M | $17.34M | 1.77% |
| IPFXU Inflection Point Acquisition Corp. VI | -1.50M | $15.18M | 1.55% |
| IRHOU Iron Horse Acquisition II Corp. | -1.50M | $14.94M | 1.52% |
| MESHU Meshflow Acquisition Corp | -1.50M | $14.94M | 1.52% |
| HACQU HCM IV Acquisition Corp. | -1.40M | $14.04M | 1.43% |
| ALF Centurion Acquisition Corp. | -1.18M | $12.64M | 1.29% |
| ALOVU Aldabra 4 Liquidity Opportunity Vehicle, Inc. | -1.20M | $11.94M | 1.22% |
| SIMA SIM Acquisition Corp. I | -980.0K | $10.51M | 1.07% |
| # | Activity | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | ARIS Aris Mining Corp | Basic Materials | 6.83M | $101.79M | 11.21% | -984.4K | -12.6% | Reduced | 3.62% |
| 2 | ASTL Algoma Steel Group Inc. | Basic Materials | 10.95M | $44.37M | 4.88% | -1.89M | -14.7% | Reduced | 10.08% |
| 3 | DMII Drugs Made In America Acquisition II Corp. | Financial Services | 2.70M | $27.16M | 2.99% | 0 | 0.0% | Unchanged | 4.24% |
| 4 | NXE NexGen Energy Ltd. | Energy | 2.69M | $25.30M | 2.79% | +264.5K | +10.9% | Added | 0.46% |
| 5 | NPAC New Providence Acquisition Corp. III/Cayman | Financial Services | 2.20M | $22.84M | 2.51% | 0 | 0.0% | Unchanged | 7.33% |
| 6 | IPFX Inflection Point Acquisition Corp. VI | Financial Services | 1.93M | $19.97M | 2.2% | +1.93M | – | New | 2.86% |
| 7 | FERA Fifth Era Acquisition Corp I | Financial Services | 1.90M | $19.80M | 2.18% | 0 | 0.0% | Unchanged | 8.05% |
| 8 | IACO Idea Acquisition Corp. | Financial Services | 1.75M | $17.34M | 1.91% | +1.75M | – | New | 4% |
| 9 | CCXI Churchill Capital Corp XI | Financial Services | 950.5K | $16.59M | 1.83% | +950.5K | – | New | 1.71% |
| 10 | CRDL Cardiol Therapeutics Inc. | Healthcare | 15.60M | $16.53M | 1.82% | +246.2K | +1.6% | Added | 17.93% |
| 11 | RDAG Republic Digital Acquisition Co | Financial Services | 1.57M | $16.15M | 1.78% | 0 | 0.0% | Unchanged | 4.17% |
| 12 | LPAA Launch One Acquisition Corp. | Financial Services | 1.48M | $16.04M | 1.77% | 0 | 0.0% | Unchanged | 2.57% |
| 13 | CEPF Cantor Equity Partners IV, Inc. | Financial Services | 1.50M | $15.60M | 1.72% | 0 | 0.0% | Unchanged | 3.33% |
| 14 | IRHO Iron Horse Acquisition II Corp. | Financial Services | 1.50M | $15.05M | 1.66% | +1.50M | – | New | 6.36% |
| 15 | MESH Meshflow Acquisition Corp | Financial Services | 1.50M | $15.02M | 1.65% | +1.50M | – | New | 3.48% |
Tip. Select a row to see that position’s full history at MMCAP International Inc. SPC.
As of its Q2 2026 13F filing, MMCAP International Inc. SPC’s five largest positions were Aris Mining Corp (ARIS) at 11.2%, Algoma Steel Group Inc. (ASTL) at 4.9%, Drugs Made In America Acquisition II Corp. (DMII) at 3.0%, NexGen Energy Ltd. (NXE) at 2.8%, New Providence Acquisition Corp. III/Cayman (NPAC) at 2.5% of the reported portfolio.
MMCAP International Inc. SPC reported a 13F portfolio worth $908.31M across 176 positions for Q2 2026. That is down 7.5% from the previous quarter.
Its largest purchases by value were Inflection Point Acquisition Corp. VI ($19.97M), Idea Acquisition Corp. ($17.34M), Churchill Capital Corp XI ($16.59M). It opened 61 new positions.
Its largest sales by value were Xanadu Quantum Technologies Ltd ($48.13M), Churchill Capital Corp XI ($27.68M), Idea Acquisition Corp. ($17.34M). It exited 42 positions entirely.
From the Form 13F-HR reports MMCAP International Inc. SPC files with the SEC each quarter, within 45 days of quarter end. A 13F lists long positions in US-listed equities and options; it excludes short positions, cash, bonds and most non-US holdings.
13F data reflects long positions in US-listed equities and options as reported to the SEC up to 45 days after quarter end. It excludes short positions, cash, bonds and most non-US securities, so it is not a complete picture of a manager’s assets.