13F HOLDINGS REPORT
MMCAP International Inc. SPC
Quarter ended Q3 2025 · Filed November 10, 2025 · Accession 0000912282-25-001210
Total Value
$859.8M
Positions
172
Other Managers
0
Confidential Omitted
No
Holdings (172)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | ARIS MNG CORP | 04040Y109 | 16,436,882 | $161.1M | 18.74% |
| 2 | ALGOMA STL GROUP INC | 015658107 | 8,078,828 | $28.7M | 3.34% |
| 3 | Uranium Energy Corp | UEC | 2,091,198 | $27.9M | 3.24% |
| 4 | Drugs Made In America Acquisit | G2851K120 | 2,700,000 | $26.9M | 3.12% |
| 5 | Denison Mines Corp | DNN | 9,505,871 | $26.1M | 3.04% |
| 6 | STRIVE INC | SATA | 18,518,519 | $25.0M | 2.91% |
| 7 | New Providence Acquisition Cor | G6476A102 | 2,200,000 | $22.4M | 2.60% |
| 8 | Churchill Capital Corp X | G2130T108 | 1,579,831 | $20.3M | 2.36% |
| 9 | POET Technologies Inc | POET | 3,585,240 | $19.9M | 2.31% |
| 10 | Fifth Era Acquisition Corp I | FERAU | 1,900,000 | $19.3M | 2.25% |
| 11 | SUI GROUP HOLDINGS LIMITED | SUIG | 4,771,507 | $18.4M | 2.14% |
| 12 | Republic Digital Acquisition C | RDAGW | 1,565,000 | $16.0M | 1.86% |
| 13 | M3-Brigade Acquisition V Corp | G63212107 | 1,500,000 | $15.8M | 1.84% |
| 14 | Launch One Acquisition Corp | LPAAW | 1,480,000 | $15.5M | 1.81% |
| 15 | Cantor Equity Partners IV Inc | G1828E100 | 1,500,000 | $15.3M | 1.78% |
| 16 | Churchill Capital Corp IX | CCIXW | 1,350,000 | $14.1M | 1.65% |
| 17 | INFLECTION PT ACQUISITION CO | G47875102 | 1,400,000 | $14.1M | 1.64% |
| 18 | Encore Energy Corp | EU | 4,316,838 | $13.9M | 1.61% |
| 19 | CARTESIAN GROWTH CORP III | CGCTW | 1,350,000 | $13.6M | 1.58% |
| 20 | GP-Act III Acquisition Corp | GPATW | 1,275,000 | $13.5M | 1.57% |
| 21 | Centurion Acquisition Corp | ALFUW | 1,175,000 | $12.4M | 1.44% |
| 22 | Wen Acquisition Corp | WENNW | 1,200,000 | $12.1M | 1.41% |
| 23 | M3-Brigade Acquisition VI Corp | MBVIW | 1,100,000 | $11.1M | 1.29% |
| 24 | FutureCrest Acquisition Corp | FCRS-WT | 1,000,000 | $10.6M | 1.23% |
| 25 | SIM Acquisition Corp I | SIMAW | 980,000 | $10.3M | 1.20% |
| 26 | HCM III Acquisition Corp | HCMAW | 1,000,000 | $10.3M | 1.20% |
| 27 | Lionheart Holdings | CUBWW | 980,000 | $10.3M | 1.20% |
| 28 | Silverbox Corp IV | SBXD-WT | 980,000 | $10.3M | 1.19% |
| 29 | Trailblazer Acquisition Corp | BLZRW | 1,000,000 | $10.2M | 1.19% |
| 30 | Haymaker Acquisition Corp 4 | G4375F108 | 900,000 | $10.2M | 1.19% |
| 31 | Graf Global Corp | GRAF-WT | 830,000 | $8.7M | 1.02% |
| 32 | National Energy Services Reuni | NESR | 845,142 | $8.7M | 1.01% |
| 33 | Sharplink Gaming Inc | SBET | 498,700 | $8.5M | 0.99% |
| 34 | Bitfarms Ltd/Canada | BITF | 2,795,298 | $7.9M | 0.92% |
| 35 | Cantor Equity Partners II Inc | G1827P106 | 750,000 | $7.9M | 0.92% |
| 36 | Cantor Equity Partners III Inc | G1828A108 | 750,000 | $7.7M | 0.90% |
| 37 | Pioneer Acquisition I Corp | PACHW | 750,000 | $7.5M | 0.88% |
| 38 | Oxley Bridge Acquisition Ltd | OBAWW | 750,000 | $7.5M | 0.88% |
| 39 | Gores Holdings X Inc | G4002F109 | 700,000 | $7.1M | 0.83% |
| 40 | American Exceptionalism Acquis | AEXA | 631,066 | $6.9M | 0.80% |
| 41 | Ur-Energy Inc | URG | 3,849,280 | $6.9M | 0.80% |
| 42 | Cantor Equity Partners I Inc | CEPO | 638,027 | $6.7M | 0.78% |
| 43 | 1RT Acquisition Corp | ONCHW | 600,000 | $6.3M | 0.74% |
| 44 | Andretti Acquisition Corp II | POLEW | 580,000 | $6.1M | 0.71% |
| 45 | CO2 Energy Transition Corp | NOEMW | 590,000 | $6.0M | 0.70% |
| 46 | Energy Fuels Inc/Canada | UUUU | 364,925 | $5.6M | 0.65% |
| 47 | FIGX Capital Acquisition Corp | G3473K126 | 500,000 | $5.0M | 0.59% |
| 48 | Launch Two Acquisition Corp | LPBBW | 480,000 | $5.0M | 0.58% |
| 49 | Cronos Group Inc | CRON | 1,769,082 | $4.9M | 0.57% |
| 50 | Newbury Street II Acquisition | G6439S109 | 450,000 | $4.7M | 0.54% |
| 51 | Upexi Inc | UPXI | 766,933 | $4.4M | 0.51% |
| 52 | Fluor Corp | FLR | 100,000 | $4.2M | 0.49% |
| 53 | Gen Digital Inc | GENVR | 542,308 | $4.0M | 0.47% |
| 54 | Translational Development Acqu | G9008W105 | 350,000 | $3.6M | 0.42% |
| 55 | USA Rare Earth Inc | USAR | 500,000 | $3.6M | 0.42% |
| 56 | GENERAL MTRS CO | 37045V100 | 57,750 | $3.5M | 0.41% |
| 57 | BORGWARNER INC | BWA | 78,776 | $3.5M | 0.40% |
| 58 | IsoEnergy Ltd | ISOU | 345,645 | $3.5M | 0.40% |
| 59 | APTIV PLC | APTV | 33,607 | $2.9M | 0.34% |
| 60 | Stellar V Capital Corp | SVCCW | 280,000 | $2.9M | 0.34% |
| 61 | Voyager Acquisition Corp | G93A7H104 | 250,000 | $2.6M | 0.31% |
| 62 | CEA Industries Inc | BNCWZ | 334,039 | $2.6M | 0.30% |
| 63 | CARMAX INC | KMX | 56,770 | $2.5M | 0.30% |
| 64 | Lightwave Acquisition Corp | LWACW | 250,000 | $2.5M | 0.29% |
| 65 | Blue Acquisition Corp | BACCU | 250,000 | $2.5M | 0.29% |
| 66 | PROFOUND MED CORP | PROF | 500,859 | $2.4M | 0.28% |
| 67 | Steel Dynamics Inc | STLD | 15,311 | $2.1M | 0.25% |
| 68 | NewHold Invt Corp III | G6486E102 | 200,000 | $2.0M | 0.24% |
| 69 | Oyster Enterprises II Acquisit | OYSEU | 200,000 | $2.0M | 0.23% |
| 70 | BLUE WTR ACQUISITION CORP. I | G1368E106 | 200,000 | $2.0M | 0.23% |
| 71 | Gesher Acquisition Corp II | GSHRW | 175,000 | $1.8M | 0.21% |
| 72 | Churchill Capital Corp X | G2130T116 | 500,000 | $1.8M | 0.21% |
| 73 | Chenghe Acquisition III Co | CHECW | 150,000 | $1.5M | 0.17% |
| 74 | Archimedes Tech SPAC Partners | G04537109 | 125,000 | $1.3M | 0.15% |
| 75 | BEST SPAC I Acquisition Corp | BSAAU | 125,000 | $1.3M | 0.15% |
| 76 | GREENFIRE RES LTD NEW | 39525U107 | 249,200 | $1.1M | 0.13% |
| 77 | Sol Strategies Inc | STKE | 250,000 | $1.1M | 0.13% |
| 78 | Legato Merger Corp III | LEGT-WT | 100,000 | $1.1M | 0.12% |
| 79 | ProCap Acquisition Corp | PCAPW | 100,000 | $1.0M | 0.12% |
| 80 | Galata Acquisition Corp II | LATAW | 100,000 | $998,000 | 0.12% |
| 81 | M3-Brigade Acquisition V Corp | G63212115 | 787,500 | $960,750 | 0.11% |
| 82 | Canadian Pacific Kansas City L | CP | 12,800 | $953,472 | 0.11% |
| 83 | Kyivstar Group Ltd | KYIVW | 213,666 | $867,484 | 0.10% |
| 84 | iShares Ethereum Trust ETF | 46438R105 | 25,000 | $787,750 | 0.09% |
| 85 | Critical Metals Corp | CRTMF | 300,000 | $630,600 | 0.07% |
| 86 | INFLECTION PT ACQUISITION CO | G47875110 | 1,400,000 | $616,000 | 0.07% |
| 87 | Galiano Gold Inc | GAU | 250,000 | $544,337 | 0.06% |
| 88 | Republic Digital Acquisition C | RDAGW | 782,500 | $508,625 | 0.06% |
| 89 | Fifth Era Acquisition Corp I | FERAU | 1,900,000 | $503,500 | 0.06% |
| 90 | Oculis Holding AG | OCSAW | 73,525 | $497,029 | 0.06% |
| 91 | Blaize Holdings Inc | BZAIW | 750,000 | $465,900 | 0.05% |
| 92 | NexGen Energy Ltd | NXE | 50,007 | $447,563 | 0.05% |
| 93 | Centurion Acquisition Corp | ALFUW | 1,237,500 | $420,750 | 0.05% |
| 94 | Forafric Global PLC | AFRIW | 518,900 | $408,219 | 0.05% |
| 95 | Rezolve AI PLC | RZLVW | 250,000 | $401,100 | 0.05% |
| 96 | ViewBix Inc | VBIX | 115,995 | $394,383 | 0.05% |
| 97 | Anfield Energy Inc | AEC | 38,346 | $392,112 | 0.05% |
| 98 | SIM Acquisition Corp I | SIMAW | 990,000 | $366,300 | 0.04% |
| 99 | Wen Acquisition Corp | WENNW | 600,000 | $336,000 | 0.04% |
| 100 | New Providence Acquisition Cor | G6476A110 | 733,333 | $322,667 | 0.04% |
| 101 | Cardiol Therapeutics Inc | CRDL | 293,056 | $313,570 | 0.04% |
| 102 | GP-Act III Acquisition Corp | GPATW | 1,037,500 | $269,750 | 0.03% |
| 103 | New Found Gold Corp | NFGC | 112,725 | $268,123 | 0.03% |
| 104 | Churchill Capital Corp IX | CCIXW | 337,500 | $263,250 | 0.03% |
| 105 | Lionheart Holdings | CUBWW | 990,000 | $252,450 | 0.03% |
| 106 | CEA INDUSTRIES INC | BNCWZ | 742,575 | $248,677 | 0.03% |
| 107 | Launch One Acquisition Corp | LPAAW | 990,000 | $217,800 | 0.03% |
| 108 | Launch Two Acquisition Corp | LPBBW | 490,000 | $181,300 | 0.02% |
| 109 | Haymaker Acquisition Corp 4 | G4375F116 | 450,000 | $177,750 | 0.02% |
| 110 | Alliance Entertainment Holding | AENTW | 294,000 | $173,460 | 0.02% |
| 111 | CARTESIAN GROWTH CORP III | CGCTW | 675,000 | $168,750 | 0.02% |
| 112 | Alpha Tau Medical Ltd | DRTSW | 447,622 | $154,430 | 0.02% |
| 113 | Silverbox Corp IV | SBXD-WT | 326,666 | $143,733 | 0.02% |
| 114 | CO2 Energy Transition Corp | NOEMW | 590,000 | $141,600 | 0.02% |
| 115 | Graf Global Corp | GRAF-WT | 415,000 | $136,950 | 0.02% |
| 116 | Jackson Acquisition Co II | JACS-UN | 500,000 | $135,000 | 0.02% |
| 117 | Gores Holdings X Inc | G4002F125 | 175,000 | $133,000 | 0.02% |
| 118 | BitFuFu Inc | FUFUW | 330,000 | $132,033 | 0.02% |
| 119 | Spark I Acquisition Corp | SPKLW | 175,000 | $105,000 | 0.01% |
| 120 | CO2 Energy Transition Corp | NOEMW | 590,000 | $99,769 | 0.01% |
| 121 | Hotel101 Global Holdings Corp | HBNB | 28,750 | $87,975 | 0.01% |
| 122 | Fold Holdings Inc | FLDDW | 175,000 | $87,815 | 0.01% |
| 123 | Murano Global Investments PLC | G63369113 | 500,000 | $72,950 | 0.01% |
| 124 | SBC MED GROUP HLDGS INC | 73245B115 | 330,000 | $68,838 | 0.01% |
| 125 | Satellogic Inc | SATLW | 166,666 | $58,333 | 0.01% |
| 126 | Andretti Acquisition Corp II | POLEW | 290,000 | $58,000 | 0.01% |
| 127 | Newbury Street II Acquisition | G6439S117 | 225,000 | $57,285 | 0.01% |
| 128 | Translational Development Acqu | G9008W113 | 175,000 | $50,750 | 0.01% |
| 129 | Stellar V Capital Corp | SVCCW | 140,000 | $48,986 | 0.01% |
| 130 | Alpha Modus Holdings Inc | AMODW | 588,000 | $46,158 | 0.01% |
| 131 | LIFEZONE METALS INC | LZM-WT | 69,810 | $43,980 | 0.01% |
| 132 | Blue Acquisition Corp | BACCU | 250,000 | $40,350 | 0.00% |
| 133 | Tevogen Bio Holdings Inc | TVGNW | 650,000 | $36,075 | 0.00% |
| 134 | NewHold Invt Corp III | G6486E110 | 100,000 | $36,000 | 0.00% |
| 135 | Oyster Enterprises II Acquisit | OYSEU | 200,000 | $34,000 | 0.00% |
| 136 | Dragonfly Energy Holdings Corp | DFLIW | 675,000 | $33,818 | 0.00% |
| 137 | Gesher Acquisition Corp II | GSHRW | 87,500 | $29,304 | 0.00% |
| 138 | OmniAb Inc | OABIW | 158,333 | $26,917 | 0.00% |
| 139 | ALCHEMY INVTS ACQUISITN CORP | G0232F133 | 150,000 | $25,500 | 0.00% |
| 140 | Archimedes Tech SPAC Partners | G04537125 | 62,500 | $24,375 | 0.00% |
| 141 | FOXX DEV HLDGS INC | FOX | 160,000 | $22,448 | 0.00% |
| 142 | Cycurion Inc | CYCUW | 500,000 | $22,000 | 0.00% |
| 143 | Nauticus Robotics Inc | KITTW | 500,000 | $21,950 | 0.00% |
| 144 | ProCap Acquisition Corp | PCAPW | 33,333 | $21,666 | 0.00% |
| 145 | Voyager Acquisition Corp | G93A7H112 | 125,000 | $21,250 | 0.00% |
| 146 | Legato Merger Corp III | LEGT-WT | 50,000 | $18,560 | 0.00% |
| 147 | BEST SPAC I Acquisition Corp | BSAAU | 125,000 | $17,513 | 0.00% |
| 148 | Hub Cyber Security Ltd | HUBCZ | 898,991 | $17,440 | 0.00% |
| 149 | ESGL HLDGS LTD | ESGH | 154,750 | $17,038 | 0.00% |
| 150 | Liminatus Pharma Inc | LIMNW | 111,745 | $16,527 | 0.00% |
| 151 | ABPRO HLDGS INC | ABPWW | 675,000 | $15,930 | 0.00% |
| 152 | CID Holdco Inc | DAICW | 100,000 | $15,250 | 0.00% |
| 153 | Psyence Biomedical Ltd | PBMWW | 600,000 | $15,120 | 0.00% |
| 154 | CLASSOVER HLDGS INC | KIDZW | 187,500 | $15,038 | 0.00% |
| 155 | BLUE WTR ACQUISITION CORP. I | G1368E114 | 100,000 | $14,190 | 0.00% |
| 156 | EON Resources Inc | EONR-WT | 257,500 | $12,875 | 0.00% |
| 157 | Valens Semiconductor Ltd | VLN-WT | 214,067 | $12,865 | 0.00% |
| 158 | Beneficient | BENFW | 750,000 | $10,800 | 0.00% |
| 159 | Zeo Energy Corp | ZEOWW | 195,575 | $10,757 | 0.00% |
| 160 | Roadzen Inc | RDZNW | 150,000 | $10,500 | 0.00% |
| 161 | Banzai International Inc | BNZIW | 352,409 | $9,409 | 0.00% |
| 162 | Keen Vision Acquisition Corp | KVACW | 150,000 | $9,030 | 0.00% |
| 163 | VSee Health Inc | VSEEW | 500,000 | $8,450 | 0.00% |
| 164 | CDT Equity Inc | CDTTW | 700,000 | $7,420 | 0.00% |
| 165 | eLong Power Holding Ltd | ELPW | 23,670 | $7,186 | 0.00% |
| 166 | MultiSensor AI Holdings Inc | MSAIW | 175,250 | $6,660 | 0.00% |
| 167 | NewGenIvf Group Ltd | NIVFW | 375,000 | $6,188 | 0.00% |
| 168 | Blue Gold Ltd | BGLWW | 12,500 | $5,720 | 0.00% |
| 169 | CERo Therapeutics Holdings Inc | CEROW | 375,000 | $4,988 | 0.00% |
| 170 | Apollomics Inc | APLMW | 250,000 | $4,775 | 0.00% |
| 171 | GIBO Holdings Ltd | GIBOW | 125,000 | $4,375 | 0.00% |
| 172 | SMX SEC MATTERS PLC | G8267K117 | 125,000 | $3,375 | 0.00% |