Latest MMCAP International Inc. SPC Stock Portfolio

MMCAP International Inc. SPC Performance:

2025 Q4: 7.05%YTD: 18.59%2024: 1%

Performance for 2025 Q4 is 7.05%, and YTD is 18.59%, and 2024 is 1%.

About MMCAP International Inc. SPC and 13F Hedge Fund Stock Holdings

On 2026-02-09, the fund reported it's updated stock portfolio. In the 13F Holdings report, MMCAP International Inc. SPC reported an equity portfolio of $1 Billions as of 31 Dec, 2025.

The top stock holdings of MMCAP International Inc. SPC are , ASTL, . The fund has invested 22.4% of it's portfolio in ARIS MINING CORP and 4.7% of portfolio in ALGOMA STEEL GROUP INC.

The fund managers got completely rid off CHURCHILL CAPITAL CORP X, FLUOR CORP (FLR) and CEA INDUSTRIES INC (CEAD) stocks. They significantly reduced their stock positions in NATIONAL ENERGY SERVICES REUNI (NESR), STRIVE INC and UR-ENERGY INC (URG). MMCAP International Inc. SPC opened new stock positions in CHURCHILL CAPITAL CORP XI, WEYERHAEUSER CO (WY) and TREEHOUSE FOODS INC (THS). The fund showed a lot of confidence in some stocks as they added substantially to NEXGEN ENERGY SEG, UPEXI INC (UPXI) and CRONOS GROUP INC (CRON).

MMCAP International Inc. SPC Annual Return Estimates Vs S&P 500

Our best estimate is that MMCAP International Inc. SPC made a return of 7.05% in the last quarter. In trailing 12 months, it's portfolio return was 18.59%.

Performance
S&P 500

New Buys

Ticker	$ Bought
churchill capital corp xi	27,567,000
meshflow acquisition corp	15,000,000
iron horse acquisition ii corp	14,917,500
cantor equity partners v inc	12,300,000
m3-brigade acquisition vi corp	11,000,000
futurecrest acquisition corp	10,100,000
hcm iii acquisition corp	10,040,000
trailblazer acquisition corp	10,010,000

New stocks bought by MMCAP International Inc. SPC

Additions

Ticker	% Inc.
nexgen energy seg	4,759
new found gold corp	561
aptiv plc	406
upexi inc	203
sharplink gaming inc	61.94
cronos group inc	56.07
algoma steel group inc	42.2
sui group holdings ltd	28.71

Additions to existing portfolio by MMCAP International Inc. SPC

Reductions

Ticker	% Reduced
national energy services reuni	-99.38
strive inc	-96.96
ur-energy inc	-86.6
anfield energy inc	-82.3
m3-brigade acquisition v corp	-73.33
poet technologies inc	-57.43
m3-brigade acquisition v corp	-55.6
uranium energy corp	-40.3

MMCAP International Inc. SPC reduced stake in above stock

Sold off

Ticker	$ Sold
churchill capital corp x	-20,316,600
m3-brigade acquisition vi corp	-11,132,000
trailblazer acquisition corp	-10,225,000
hcm iii acquisition corp	-10,310,000
futurecrest acquisition corp	-10,600,000
pioneer acquisition i corp	-7,537,500
oxley bridge acquisition ltd	-7,530,000
cantor equity partners ii inc	-7,882,500

MMCAP International Inc. SPC got rid off the above stocks

Sector Distribution

MMCAP International Inc. SPC has about 93.4% of it's holdings in Others sector.

Sector	%
Others	93.4
Energy	2
Consumer Cyclical	1.1

Market Cap. Distribution

MMCAP International Inc. SPC has about 1.8% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
UNALLOCATED	92.3
SMALL-CAP	3.8
LARGE-CAP	1.8
NANO-CAP	1.4

Stocks belong to which Index?

About 5.4% of the stocks held by MMCAP International Inc. SPC either belong to S&P 500 or RUSSELL 2000 index.

Index	%
Others	94.5
RUSSELL 2000	3.3
S&P 500	2.1

Top 5 Winners (%)		%
	vsee health inc	374.0 %
	haymaker acquisition corp 4	292.4 %
	roadzen inc	288.1 %
	blue water acquisition corp ii	273.5 %
	cartesian growth corp iii	216.0 %

Top 5 Winners ($)		$
	aris mining corp	97.6 M
ASTL	algoma steel group inc	5.3 M
NESR	national energy services reuni	2.3 M
	poet technologies inc	2.0 M
	churchill capital corp x	1.9 M

Top 5 Losers (%)		%
	classover holdings inc	-85.0 %
	murano global investments plc	-82.0 %
	liminatus pharma inc	-76.3 %
EMLD	fold holdings inc	-69.7 %
	sol strategies inc	-65.0 %

Top 5 Losers ($)		$
MCVT	sui group holdings ltd	-11.9 M
UPXI	upexi inc	-6.3 M
	strive inc	-5.8 M
	sharplink gaming inc	-5.3 M
EU	encore energy corp	-3.2 M

MMCAP International Inc. SPC Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of MMCAP International Inc. SPC

MMCAP International Inc. SPC has 208 stocks in it's portfolio. About 44.1% of the portfolio is in top 10 stocks. MCVT proved to be the most loss making stock for the portfolio. was the most profitable stock for MMCAP International Inc. SPC last quarter.

Last Reported on: 09 Feb, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
AFRI	forafric global plc	0.07	518,900	726,460	unchanged	0.00

ASTL	algoma steel group inc	4.71	11,487,900	47,110,700	added	42.2

BWA	borgwarner inc	0.38	85,138	3,836,320	added	8.08

CEAD	cea industries inc	0.00	0.00	0.00	sold off	-100

CEAD	cea industries inc	0.00	0.00	0.00	sold off	-100

CF	cf industries holdings inc	0.07	9,000	696,060	new

CP	canadian pacific kansas city l	0.09	12,800	942,464	unchanged	0.00

CRDL	cardiol therapeutics inc	0.02	208,950	199,297	reduced	-28.7

CRON	cronos group inc	0.73	2,761,060	7,261,580	added	56.07

EMLD	fold holdings inc	0.00	175,000	26,600	unchanged	0.00

EU	encore energy corp	1.07	4,316,240	10,704,300	reduced	-0.01

FLR	fluor corp	0.00	0.00	0.00	sold off	-100

GM	general motors co	0.54	66,338	5,394,610	added	14.87

HNRA	eon resources inc	0.00	257,500	12,231	unchanged	0.00

KITT	nauticus robotics inc	0.00	500,000	22,550	unchanged	0.00

KMX	carmax inc	0.18	47,257	1,826,010	reduced	-16.76

MCVT	sui group holdings ltd	1.02	6,141,360	10,256,100	added	28.71

NESR	national energy services reuni	0.01	5,227	81,855	reduced	-99.38

PBAX	cero therapeutics holdings inc	0.00	0.00	0.00	sold off	-100

PTWO	sbc medical group holdings inc	0.01	330,000	66,990	unchanged	0.00