13-F holdings, Q2 2026
MMCAP International Inc. SPC
A 13-F is the report large US investment managers file with the SEC each quarter, listing the stocks they held at quarter end.
- Reported value
- $1.2B
- Positions
- 303
- Filed
- Data as of
These holdings are as of , 136 days ago.
13-Fs for Q3 2026 are due by .
See this manager's Holder IQ and how the book overlaps yours
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Top holdings
- ARMN$101.8M6,830,759 shares8.6% of the book
- ASTL$44.4M10,954,738 shares3.8% of the book
- CXII$28.8M2,700,000 shares2.4% of the book
- DMII$27.2M2,700,000 shares2.3% of the book
- NXE$25.3M2,694,352 shares2.1% of the book
- NPAC$22.8M2,200,000 shares1.9% of the book
- IPFX$20M1,931,762 shares1.7% of the book
- FERA$19.8M1,900,000 shares1.7% of the book
- TAC$18.1M1,310,100 shares1.5% of the book
- FTRA$17.7M1,750,000 shares1.5% of the book
What changed this quarter
108 new positions and 64 sold out, against Q1 2026. Added and trimmed positions use the change in split-adjusted shares at the Q2 2026 implied price; full exits use their Q1 2026 reported value, not sale proceeds.
Largest buys
- TAC
TransAlta Corp
+$18.1M
New
Your stake and evidence for TAC
What it means for you
This public view does not read your holdings or watchlist; open the member view to check your stake.
Use this to decide what to research, rather than as an instruction to copy a trade.
What happened
A position newly appears in the Q2 2026 book.
Displayed change: +$18.1M. The current book reports 1,310,100 shares.
Why it can matter
A change between quarter-end disclosures can prompt a question about the manager's exposure. It does not reveal the trade date, the execution price or why the position changed; a full exit is not proof of a bearish decision.
How we got this
A new position uses its current quarter's reported dollar value; this is not the amount spent buying it.
Comparable books exclude identified CUSIP, share-basis and new-security events from trades. Exit-size bands describe prior book weight, not the manager's intent.
Where the data comes from
SEC 13F quarter-end holdings for Q1 2026 and Q2 2026; these delayed disclosures omit shorts and many other assets.
Current source filed .
Technical details
Reported dollar change: 18110450 USD. Current reported shares: 1310100. Prior shares on current basis: not recorded.
- CCXI
Churchill Capital Corp XI
+$16.6M
New
Your stake and evidence for CCXI
What it means for you
This public view does not read your holdings or watchlist; open the member view to check your stake.
Use this to decide what to research, rather than as an instruction to copy a trade.
What happened
A position newly appears in the Q2 2026 book.
Displayed change: +$16.6M. The current book reports 950,474 shares.
Why it can matter
A change between quarter-end disclosures can prompt a question about the manager's exposure. It does not reveal the trade date, the execution price or why the position changed; a full exit is not proof of a bearish decision.
How we got this
A new position uses its current quarter's reported dollar value; this is not the amount spent buying it.
Comparable books exclude identified CUSIP, share-basis and new-security events from trades. Exit-size bands describe prior book weight, not the manager's intent.
Where the data comes from
SEC 13F quarter-end holdings for Q1 2026 and Q2 2026; these delayed disclosures omit shorts and many other assets.
Current source filed .
Technical details
Reported dollar change: 16585771 USD. Current reported shares: 950474. Prior shares on current basis: not recorded.
- IRHO
Iron Horse Acquisition II Corp
+$15M
New
Your stake and evidence for IRHO
What it means for you
This public view does not read your holdings or watchlist; open the member view to check your stake.
Use this to decide what to research, rather than as an instruction to copy a trade.
What happened
A position newly appears in the Q2 2026 book.
Displayed change: +$15M. The current book reports 1,500,000 shares.
Why it can matter
A change between quarter-end disclosures can prompt a question about the manager's exposure. It does not reveal the trade date, the execution price or why the position changed; a full exit is not proof of a bearish decision.
How we got this
A new position uses its current quarter's reported dollar value; this is not the amount spent buying it.
Comparable books exclude identified CUSIP, share-basis and new-security events from trades. Exit-size bands describe prior book weight, not the manager's intent.
Where the data comes from
SEC 13F quarter-end holdings for Q1 2026 and Q2 2026; these delayed disclosures omit shorts and many other assets.
Current source filed .
Technical details
Reported dollar change: 15045000 USD. Current reported shares: 1500000. Prior shares on current basis: not recorded.
- MESH
Meshflow Acquisition Corp
+$15M
New
Your stake and evidence for MESH
What it means for you
This public view does not read your holdings or watchlist; open the member view to check your stake.
Use this to decide what to research, rather than as an instruction to copy a trade.
What happened
A position newly appears in the Q2 2026 book.
Displayed change: +$15M. The current book reports 1,500,000 shares.
Why it can matter
A change between quarter-end disclosures can prompt a question about the manager's exposure. It does not reveal the trade date, the execution price or why the position changed; a full exit is not proof of a bearish decision.
How we got this
A new position uses its current quarter's reported dollar value; this is not the amount spent buying it.
Comparable books exclude identified CUSIP, share-basis and new-security events from trades. Exit-size bands describe prior book weight, not the manager's intent.
Where the data comes from
SEC 13F quarter-end holdings for Q1 2026 and Q2 2026; these delayed disclosures omit shorts and many other assets.
Current source filed .
Technical details
Reported dollar change: 15015000 USD. Current reported shares: 1500000. Prior shares on current basis: not recorded.
- ALOV
Aldabra 4 Liquidity Opportunit
+$11.9M
New
Your stake and evidence for ALOV
What it means for you
This public view does not read your holdings or watchlist; open the member view to check your stake.
Use this to decide what to research, rather than as an instruction to copy a trade.
What happened
A position newly appears in the Q2 2026 book.
Displayed change: +$11.9M. The current book reports 1,200,000 shares.
Why it can matter
A change between quarter-end disclosures can prompt a question about the manager's exposure. It does not reveal the trade date, the execution price or why the position changed; a full exit is not proof of a bearish decision.
How we got this
A new position uses its current quarter's reported dollar value; this is not the amount spent buying it.
Comparable books exclude identified CUSIP, share-basis and new-security events from trades. Exit-size bands describe prior book weight, not the manager's intent.
Where the data comes from
SEC 13F quarter-end holdings for Q1 2026 and Q2 2026; these delayed disclosures omit shorts and many other assets.
Current source filed .
Technical details
Reported dollar change: 11928000 USD. Current reported shares: 1200000. Prior shares on current basis: not recorded.
Largest sells
- XNDU
XANADU QUANTUM TECHNOLO-CL B
−$48.1M
Sold out, was 4.2% of the book
Your stake and evidence for XNDU
What it means for you
This public view does not read your holdings or watchlist; open the member view to check your stake.
Use this to decide what to research, rather than as an instruction to copy a trade.
What happened
The position reported in Q1 2026 is absent from the comparable Q2 2026 book.
Displayed change: −$48.1M. This was 4.2% of the prior book.
Why it can matter
A change between quarter-end disclosures can prompt a question about the manager's exposure. It does not reveal the trade date, the execution price or why the position changed; a full exit is not proof of a bearish decision.
How we got this
A full exit is shown as the negative of its prior reported value, not sale proceeds or a value at today's price.
Comparable books exclude identified CUSIP, share-basis and new-security events from trades. Exit-size bands describe prior book weight, not the manager's intent.
Where the data comes from
SEC 13F quarter-end holdings for Q1 2026 and Q2 2026; these delayed disclosures omit shorts and many other assets.
Current source filed .
Technical details
Reported dollar change: -48125000 USD. Current reported shares: not recorded. Prior shares on current basis: 6875000.
Churchill Capital Corp XI
−$27.7M
Sold out, was 2.4% of the book
Your stake and evidence for Churchill Capital Corp XI
What it means for you
This filing line has no matched ticker, so your stake is unavailable.
Use this to decide what to research, rather than as an instruction to copy a trade.
What happened
The position reported in Q1 2026 is absent from the comparable Q2 2026 book.
Displayed change: −$27.7M. This was 2.4% of the prior book.
Why it can matter
A change between quarter-end disclosures can prompt a question about the manager's exposure. It does not reveal the trade date, the execution price or why the position changed; a full exit is not proof of a bearish decision.
How we got this
A full exit is shown as the negative of its prior reported value, not sale proceeds or a value at today's price.
Comparable books exclude identified CUSIP, share-basis and new-security events from trades. Exit-size bands describe prior book weight, not the manager's intent.
Where the data comes from
SEC 13F quarter-end holdings for Q1 2026 and Q2 2026; these delayed disclosures omit shorts and many other assets.
Current source filed .
Technical details
Reported dollar change: -27675000 USD. Current reported shares: not recorded. Prior shares on current basis: 2700000.
MOZAYYX Acquisition Corp
−$17.4M
Sold out, was 1.5% of the book
Your stake and evidence for MOZAYYX Acquisition Corp
What it means for you
This filing line has no matched ticker, so your stake is unavailable.
Use this to decide what to research, rather than as an instruction to copy a trade.
What happened
The position reported in Q1 2026 is absent from the comparable Q2 2026 book.
Displayed change: −$17.4M. This was 1.5% of the prior book.
Why it can matter
A change between quarter-end disclosures can prompt a question about the manager's exposure. It does not reveal the trade date, the execution price or why the position changed; a full exit is not proof of a bearish decision.
How we got this
A full exit is shown as the negative of its prior reported value, not sale proceeds or a value at today's price.
Comparable books exclude identified CUSIP, share-basis and new-security events from trades. Exit-size bands describe prior book weight, not the manager's intent.
Where the data comes from
SEC 13F quarter-end holdings for Q1 2026 and Q2 2026; these delayed disclosures omit shorts and many other assets.
Current source filed .
Technical details
Reported dollar change: -17413025 USD. Current reported shares: not recorded. Prior shares on current basis: 1750000.
Idea Acquisition Corp
−$17.3M
Sold out, was 1.5% of the book
Your stake and evidence for Idea Acquisition Corp
What it means for you
This filing line has no matched ticker, so your stake is unavailable.
Use this to decide what to research, rather than as an instruction to copy a trade.
What happened
The position reported in Q1 2026 is absent from the comparable Q2 2026 book.
Displayed change: −$17.3M. This was 1.5% of the prior book.
Why it can matter
A change between quarter-end disclosures can prompt a question about the manager's exposure. It does not reveal the trade date, the execution price or why the position changed; a full exit is not proof of a bearish decision.
How we got this
A full exit is shown as the negative of its prior reported value, not sale proceeds or a value at today's price.
Comparable books exclude identified CUSIP, share-basis and new-security events from trades. Exit-size bands describe prior book weight, not the manager's intent.
Where the data comes from
SEC 13F quarter-end holdings for Q1 2026 and Q2 2026; these delayed disclosures omit shorts and many other assets.
Current source filed .
Technical details
Reported dollar change: -17342500 USD. Current reported shares: not recorded. Prior shares on current basis: 1750000.
- STLD
Steel Dynamics Inc
−$16.1M
-94.7% shares
Your stake and evidence for STLD
What it means for you
This public view does not read your holdings or watchlist; open the member view to check your stake.
Use this to decide what to research, rather than as an instruction to copy a trade.
What happened
Reported shares decreased between Q1 2026 and Q2 2026.
Displayed change: −$16.1M. The current book reports 3,938 shares.
Why it can matter
A change between quarter-end disclosures can prompt a question about the manager's exposure. It does not reveal the trade date, the execution price or why the position changed; a full exit is not proof of a bearish decision.
How we got this
For an added or trimmed position, subtract split-adjusted prior shares from current shares, then multiply by the current book's reported value per share; this is not the execution price.
3,938 current shares − 73,908 prior shares on the same basis = -69,970 shares.
Comparable books exclude identified CUSIP, share-basis and new-security events from trades. Exit-size bands describe prior book weight, not the manager's intent.
Where the data comes from
SEC 13F quarter-end holdings for Q1 2026 and Q2 2026; these delayed disclosures omit shorts and many other assets.
Current source filed .
Technical details
Reported dollar change: -16055307.671406806 USD. Current reported shares: 3938. Prior shares on current basis: 73908.
What was sold out, by size
- 39 real positions, 0.25% of the book or more
- 21 small, between 0.015% and 0.25%
- 4 slivers under 0.015%, often rounding or client flows
Not counted as trades: CXII (newly listed or spun off), Cartesian Growth Corp IV (newly listed or spun off), IPFX (newly listed or spun off), FTRA (newly listed or spun off), MZYX (newly listed or spun off).
All of this comes from the filer's public SEC filings. A 13-F shows long positions in US-listed securities at quarter end and can leave out short positions, cash and non-US holdings, so it is not the whole portfolio. This is filing data, not investment advice.