13F HOLDINGS REPORT
MMCAP International Inc. SPC
Quarter ended Q4 2025 · Filed February 9, 2026 · Accession 0000912282-26-000275
Total Value
$1.00B
Positions
209
Other Managers
0
Confidential Omitted
No
Holdings (209)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | Aris Mining Corp | 04040Y109 | 13,804,061 | $224.4M | 22.44% |
| 2 | Algoma Steel Group Inc | 015658107 | 11,097,361 | $45.5M | 4.55% |
| 3 | Churchill Capital Corp XI | G2131A124 | 2,700,000 | $27.6M | 2.76% |
| 4 | Drugs Made In America Acquisit | G2851K120 | 2,700,000 | $27.0M | 2.70% |
| 5 | New Providence Acquisition Cor | G6476A102 | 2,200,000 | $22.6M | 2.26% |
| 6 | NexGen Energy SEG | NXE | 2,429,898 | $22.4M | 2.23% |
| 7 | Fifth Era Acquisition Corp I | FERAU | 1,900,000 | $19.6M | 1.95% |
| 8 | Denison Mines Corp | DNN | 7,219,531 | $19.2M | 1.92% |
| 9 | Republic Digital Acquisition C | RDAGW | 1,565,000 | $15.8M | 1.58% |
| 10 | Launch One Acquisition Corp | LPAAW | 1,480,000 | $15.7M | 1.57% |
| 11 | Cantor Equity Partners IV Inc | G1828E100 | 1,500,000 | $15.4M | 1.54% |
| 12 | Meshflow Acquisition Corp | MESHW | 1,500,000 | $15.0M | 1.50% |
| 13 | Iron Horse Acquisition II Corp | 46283H202 | 1,500,000 | $14.9M | 1.49% |
| 14 | Uranium Energy Corp | UEC | 1,248,363 | $14.6M | 1.46% |
| 15 | Churchill Capital Corp IX | CCIXW | 1,350,000 | $14.4M | 1.43% |
| 16 | Inflection Point Acquisition C | G47875102 | 1,400,000 | $14.2M | 1.42% |
| 17 | CARTESIAN GROWTH CORP III | CGCTW | 1,350,000 | $13.9M | 1.39% |
| 18 | GP-Act III Acquisition Corp | GPATW | 1,275,000 | $13.6M | 1.36% |
| 19 | Aptiv PLC | APTV | 170,268 | $13.0M | 1.30% |
| 20 | Centurion Acquisition Corp | ALFUW | 1,175,000 | $12.5M | 1.25% |
| 21 | Cantor Equity Partners V Inc | CEPV | 1,200,000 | $12.3M | 1.23% |
| 22 | Wen Acquisition Corp | WENNW | 1,200,000 | $12.1M | 1.21% |
| 23 | M3-Brigade Acquisition VI Corp | MBVIW | 1,100,000 | $11.0M | 1.10% |
| 24 | Encore Energy Corp | EU | 4,316,238 | $10.7M | 1.07% |
| 25 | Lionheart Holdings | CUBWW | 980,000 | $10.4M | 1.04% |
| 26 | SIM Acquisition Corp I | SIMAW | 980,000 | $10.4M | 1.04% |
| 27 | Silverbox Corp IV | SBXD-WT | 980,000 | $10.4M | 1.04% |
| 28 | Sui Group Holdings Ltd | SUIG | 6,141,356 | $10.3M | 1.03% |
| 29 | Haymaker Acquisition Corp 4 | G4375F108 | 900,000 | $10.2M | 1.02% |
| 30 | FutureCrest Acquisition Corp | FCRS-WT | 1,000,000 | $10.1M | 1.01% |
| 31 | HCM III Acquisition Corp | HCMAW | 1,000,000 | $10.0M | 1.00% |
| 32 | Trailblazer Acquisition Corp | BLZRW | 1,000,000 | $10.0M | 1.00% |
| 33 | Launchpad Cadenza Acquisition | LPCVW | 1,000,000 | $10.0M | 1.00% |
| 34 | American Drive Acquisition Co | ADACW | 1,000,000 | $10.0M | 1.00% |
| 35 | POET Technologies Inc | POET | 1,526,205 | $9.7M | 0.97% |
| 36 | Graf Global Corp | GRAF-WT | 830,000 | $8.9M | 0.89% |
| 37 | ITHAX Acquisition Corp III | ITHAW | 800,000 | $8.0M | 0.80% |
| 38 | Weyerhaeuser Co | WY | 327,500 | $7.8M | 0.78% |
| 39 | Cantor Equity Partners III Inc | G1828A108 | 750,000 | $7.7M | 0.76% |
| 40 | Oxley Bridge Acquisition Ltd | OBAWW | 750,000 | $7.6M | 0.76% |
| 41 | SilverBox Corp V | SBXE-WT | 750,000 | $7.5M | 0.75% |
| 42 | Pioneer Acquisition I Corp | PACHW | 750,000 | $7.5M | 0.75% |
| 43 | Cronos Group Inc | CRON | 2,761,059 | $7.3M | 0.73% |
| 44 | Sharplink Gaming Inc | SBET | 807,600 | $7.2M | 0.72% |
| 45 | American Exceptionalism Acquis | AEXA | 631,494 | $7.2M | 0.72% |
| 46 | Gores Holdings X Inc | G4002F109 | 700,000 | $7.2M | 0.72% |
| 47 | Crane Harbor Acquisition Corp | CR | 650,000 | $6.5M | 0.65% |
| 48 | 1RT Acquisition Corp | ONCHW | 600,000 | $6.1M | 0.61% |
| 49 | Andretti Acquisition Corp II | POLEW | 580,000 | $6.1M | 0.61% |
| 50 | CO2 Energy Transition Corp | NOEMW | 590,000 | $6.1M | 0.61% |
| 51 | General Motors Co | 37045V100 | 66,338 | $5.4M | 0.54% |
| 52 | Energy Fuels Inc/Canada | UUUU | 357,225 | $5.2M | 0.52% |
| 53 | Launch Two Acquisition Corp | LPBBW | 480,000 | $5.0M | 0.50% |
| 54 | FIGX Capital Acquisition Corp | G3473K100 | 500,000 | $5.0M | 0.50% |
| 55 | Cleancore Solutions Inc | ZONE | 18,356,175 | $4.8M | 0.48% |
| 56 | Newbury Street II Acquisition | G6439S109 | 450,000 | $4.7M | 0.47% |
| 57 | Terrestrial Energy Inc | IMSRW | 750,000 | $4.6M | 0.46% |
| 58 | M3-Brigade Acquisition V Corp | G63212107 | 400,000 | $4.3M | 0.43% |
| 59 | Profound Medical Corp | PROF | 531,362 | $4.2M | 0.42% |
| 60 | ArcelorMittal SA | ARCXF | 91,427 | $4.2M | 0.42% |
| 61 | Bluerock Acquisition Corp | BLRKW | 400,000 | $4.0M | 0.40% |
| 62 | Bitfarms Ltd/Canada | BITF | 1,695,298 | $4.0M | 0.40% |
| 63 | Twelve Seas Investment Co III | G9145D127 | 400,000 | $4.0M | 0.40% |
| 64 | Upexi Inc | UPXI | 2,326,777 | $3.9M | 0.39% |
| 65 | BorgWarner Inc | BWA | 85,138 | $3.8M | 0.38% |
| 66 | Translational Development Acqu | G9008W105 | 350,000 | $3.7M | 0.37% |
| 67 | Churchill Capital Corp X | G2130T116 | 430,970 | $3.3M | 0.33% |
| 68 | ZOOZ Strategy Ltd | ZOOZW | 7,000,000 | $3.1M | 0.31% |
| 69 | Social Commerce Partners Corp | G8254P129 | 300,000 | $3.0M | 0.30% |
| 70 | Stellar V Capital Corp | SVCCW | 280,000 | $2.9M | 0.29% |
| 71 | Voyager Acquisition Corp | G93A7H104 | 250,000 | $2.7M | 0.27% |
| 72 | Blue Acquisition Corp | BACCU | 250,000 | $2.6M | 0.26% |
| 73 | Range Capital Acquisition Corp | G7375J129 | 250,000 | $2.5M | 0.25% |
| 74 | Lightwave Acquisition Corp | LWACW | 250,000 | $2.5M | 0.25% |
| 75 | Gen Digital Inc | GENVR | 542,308 | $2.5M | 0.25% |
| 76 | IsoEnergy Ltd | ISOU | 270,745 | $2.4M | 0.24% |
| 77 | New Found Gold Corp | NFGC | 745,835 | $2.2M | 0.22% |
| 78 | TreeHouse Foods Inc | 89469A104 | 93,700 | $2.2M | 0.22% |
| 79 | NewHold Investment Corp III | G6486E102 | 200,000 | $2.1M | 0.21% |
| 80 | Blue Water Acquisition Corp II | G1368E106 | 200,000 | $2.1M | 0.21% |
| 81 | Oyster Enterprises II Acquisit | OYSEU | 200,000 | $2.0M | 0.20% |
| 82 | Evolution Global Acquisition C | EVOXW | 200,000 | $2.0M | 0.20% |
| 83 | Daedalus Special Acquisition C | G2616C124 | 200,000 | $2.0M | 0.20% |
| 84 | Activate Energy Acquisition Co | AEAQW | 200,000 | $2.0M | 0.20% |
| 85 | CarMax Inc | KMX | 47,257 | $1.8M | 0.18% |
| 86 | Steel Dynamics Inc | STLD | 10,711 | $1.8M | 0.18% |
| 87 | Gesher Acquisition Corp II | GSHRW | 175,000 | $1.8M | 0.18% |
| 88 | Hall Chadwick Acquisition Corp | HCACR | 175,000 | $1.8M | 0.18% |
| 89 | Algoma Steel Group Inc | 015658107 | 390,500 | $1.6M | 0.16% |
| 90 | Leapfrog Acquisition Corp | LFACW | 150,000 | $1.5M | 0.15% |
| 91 | Chenghe Acquisition III Co | CHECW | 150,000 | $1.5M | 0.15% |
| 92 | Bitcoin Infrastructure Acquisi | BIXIW | 150,000 | $1.5M | 0.15% |
| 93 | Archimedes Tech SPAC Partners | G04537109 | 125,000 | $1.3M | 0.13% |
| 94 | BEST SPAC I Acquisition Corp | BSAAU | 125,000 | $1.3M | 0.13% |
| 95 | Sunococorp LLC | SUNC | 22,755 | $1.1M | 0.11% |
| 96 | Legato Merger Corp III | LEGT-WT | 100,000 | $1.1M | 0.11% |
| 97 | ProCap Acquisition Corp | PCAPW | 100,000 | $1.0M | 0.10% |
| 98 | Galata Acquisition Corp II | LATAW | 100,000 | $996,000 | 0.10% |
| 99 | Greenfire Resources Ltd | 39525U107 | 207,309 | $991,800 | 0.10% |
| 100 | Canadian Pacific Kansas City L | CP | 12,800 | $942,464 | 0.09% |
| 101 | Fifth Era Acquisition Corp I | FERAU | 1,900,000 | $759,810 | 0.08% |
| 102 | Tailwind 2.0 Acquisition Corp | TDWDU | 75,000 | $738,750 | 0.07% |
| 103 | Forafric Global PLC | AFRIW | 518,900 | $726,460 | 0.07% |
| 104 | Ur-Energy Inc | URG | 515,776 | $716,929 | 0.07% |
| 105 | Haymaker Acquisition Corp 4 | G4375F116 | 450,000 | $697,500 | 0.07% |
| 106 | CF Industries Holdings Inc | 125269100 | 9,000 | $696,060 | 0.07% |
| 107 | Oculis Holding AG | OCSAW | 73,025 | $625,094 | 0.06% |
| 108 | iShares Ethereum Trust ETF | 46438R105 | 25,000 | $560,750 | 0.06% |
| 109 | CARTESIAN GROWTH CORP III | CGCTW | 675,000 | $533,250 | 0.05% |
| 110 | Inflection Point Acquisition C | G47875110 | 1,400,000 | $529,200 | 0.05% |
| 111 | Critical Metals Corp | CRTMF | 188,600 | $514,878 | 0.05% |
| 112 | Republic Digital Acquisition C | RDAGW | 782,500 | $453,850 | 0.05% |
| 113 | Strive Inc | SATA | 563,800 | $416,084 | 0.04% |
| 114 | Centurion Acquisition Corp | ALFUW | 1,237,500 | $396,000 | 0.04% |
| 115 | Sol Strategies Inc | STKE | 250,000 | $379,812 | 0.04% |
| 116 | New Providence Acquisition Cor | G6476A110 | 733,333 | $370,553 | 0.04% |
| 117 | Collective Mining Ltd | CNL | 24,170 | $353,079 | 0.04% |
| 118 | M3-Brigade Acquisition V Corp | G63212115 | 349,671 | $305,962 | 0.03% |
| 119 | Blaize Holdings Inc | BZAIW | 750,000 | $299,925 | 0.03% |
| 120 | Churchill Capital Corp IX | CCIXW | 337,500 | $298,620 | 0.03% |
| 121 | GP-Act III Acquisition Corp | GPATW | 1,037,500 | $279,710 | 0.03% |
| 122 | Alliance Entertainment Holding | AENTW | 294,000 | $249,812 | 0.02% |
| 123 | Launch One Acquisition Corp | LPAAW | 990,000 | $247,500 | 0.02% |
| 124 | Rezolve AI PLC | RZLVW | 250,000 | $227,500 | 0.02% |
| 125 | SIM Acquisition Corp I | SIMAW | 990,000 | $213,246 | 0.02% |
| 126 | Cardiol Therapeutics Inc | CRDL | 208,950 | $199,297 | 0.02% |
| 127 | Graf Global Corp | GRAF-WT | 415,000 | $187,580 | 0.02% |
| 128 | Wen Acquisition Corp | WENNW | 600,000 | $186,180 | 0.02% |
| 129 | FutureCrest Acquisition Corp | FCRS-WT | 250,000 | $182,500 | 0.02% |
| 130 | ViewBix Inc | VBIX | 115,995 | $177,472 | 0.02% |
| 131 | Lionheart Holdings | CUBWW | 990,000 | $168,300 | 0.02% |
| 132 | HCM III Acquisition Corp | HCMAW | 333,333 | $166,667 | 0.02% |
| 133 | Gores Holdings X Inc | G4002F125 | 175,000 | $162,733 | 0.02% |
| 134 | Trailblazer Acquisition Corp | BLZRW | 333,333 | $160,033 | 0.02% |
| 135 | Launch Two Acquisition Corp | LPBBW | 490,000 | $154,693 | 0.02% |
| 136 | Alpha Tau Medical Ltd | DRTSW | 447,622 | $152,191 | 0.02% |
| 137 | M3-Brigade Acquisition VI Corp | MBVIW | 366,666 | $135,666 | 0.01% |
| 138 | CO2 Energy Transition Corp | NOEMW | 590,000 | $130,390 | 0.01% |
| 139 | Jackson Acquisition Co II | JACS-UN | 500,000 | $125,000 | 0.01% |
| 140 | Dolly Varden Silver Corp | DVS | 25,000 | $109,561 | 0.01% |
| 141 | CO2 Energy Transition Corp | NOEMW | 590,000 | $99,415 | 0.01% |
| 142 | Pioneer Acquisition I Corp | PACHW | 375,000 | $97,500 | 0.01% |
| 143 | Silverbox Corp IV | SBXD-WT | 326,666 | $91,499 | 0.01% |
| 144 | 1RT Acquisition Corp | ONCHW | 150,000 | $87,015 | 0.01% |
| 145 | Andretti Acquisition Corp II | POLEW | 290,000 | $83,694 | 0.01% |
| 146 | Oxley Bridge Acquisition Ltd | OBAWW | 375,000 | $82,538 | 0.01% |
| 147 | National Energy Services Reuni | NESR | 5,227 | $81,855 | 0.01% |
| 148 | Blue Acquisition Corp | BACCU | 250,000 | $81,025 | 0.01% |
| 149 | FIGX Capital Acquisition Corp | G3473K118 | 250,000 | $68,675 | 0.01% |
| 150 | SBC Medical Group Holdings Inc | 73245B115 | 330,000 | $66,990 | 0.01% |
| 151 | BitFuFu Inc | FUFUW | 330,000 | $66,000 | 0.01% |
| 152 | Fusemachines Inc | FUSEW | 35,000 | $57,750 | 0.01% |
| 153 | Newbury Street II Acquisition | G6439S117 | 225,000 | $56,475 | 0.01% |
| 154 | Spark I Acquisition Corp | SPKLW | 175,000 | $55,125 | 0.01% |
| 155 | Translational Development Acqu | G9008W113 | 175,000 | $54,250 | 0.01% |
| 156 | Blue Water Acquisition Corp II | G1368E114 | 100,000 | $53,000 | 0.01% |
| 157 | Dragonfly Energy Holdings Corp | DFLIW | 675,000 | $47,250 | 0.00% |
| 158 | Alps Group Inc | ALPWF | 54,000 | $46,948 | 0.00% |
| 159 | Stellar V Capital Corp | SVCCW | 140,000 | $46,186 | 0.00% |
| 160 | NewHold Investment Corp III | G6486E110 | 100,000 | $45,030 | 0.00% |
| 161 | Satellogic Inc | SATLW | 166,666 | $42,500 | 0.00% |
| 162 | Roadzen Inc | RDZNW | 150,000 | $40,755 | 0.00% |
| 163 | VSee Health Inc | VSEEW | 500,000 | $40,050 | 0.00% |
| 164 | Oyster Enterprises II Acquisit | OYSEU | 200,000 | $40,000 | 0.00% |
| 165 | Gesher Acquisition Corp II | GSHRW | 87,500 | $39,375 | 0.00% |
| 166 | Anfield Energy Inc | AEC | 6,787 | $34,899 | 0.00% |
| 167 | Archimedes Tech SPAC Partners | G04537125 | 62,500 | $34,319 | 0.00% |
| 168 | Lightwave Acquisition Corp | LWACW | 125,000 | $33,750 | 0.00% |
| 169 | Alpha Modus Holdings Inc | AMODW | 588,000 | $32,281 | 0.00% |
| 170 | Alchemy Investments Acquisitio | G0232F133 | 150,000 | $31,500 | 0.00% |
| 171 | Lifezone Metals Ltd | LZM-WT | 69,810 | $28,678 | 0.00% |
| 172 | Tevogen Bio Holdings Inc | TVGNW | 650,000 | $27,430 | 0.00% |
| 173 | Fold Holdings Inc | FLDDW | 175,000 | $26,600 | 0.00% |
| 174 | Voyager Acquisition Corp | G93A7H112 | 125,000 | $25,625 | 0.00% |
| 175 | Nauticus Robotics Inc | KITTW | 500,000 | $22,550 | 0.00% |
| 176 | Legato Merger Corp III | LEGT-WT | 50,000 | $20,505 | 0.00% |
| 177 | OmniAb Inc | OABIW | 158,333 | $18,984 | 0.00% |
| 178 | BEST SPAC I Acquisition Corp | BSAAU | 125,000 | $18,875 | 0.00% |
| 179 | Cycurion Inc | CYCUW | 500,000 | $17,000 | 0.00% |
| 180 | Foxx Development Holdings Inc | FOX | 160,000 | $16,800 | 0.00% |
| 181 | Hub Cyber Security Ltd | HUBCZ | 898,991 | $16,541 | 0.00% |
| 182 | ESGL Holdings Ltd | ESGH | 154,750 | $15,475 | 0.00% |
| 183 | Chenghe Acquisition III Co | CHECW | 75,000 | $15,000 | 0.00% |
| 184 | Galata Acquisition Corp II | LATAW | 33,333 | $13,333 | 0.00% |
| 185 | Murano Global Investments PLC | G63369113 | 500,000 | $13,150 | 0.00% |
| 186 | ProCap Acquisition Corp | PCAPW | 33,333 | $12,370 | 0.00% |
| 187 | Tailwind 2.0 Acquisition Corp | TDWDU | 75,000 | $12,300 | 0.00% |
| 188 | EON Resources Inc | EONR-WT | 257,500 | $12,231 | 0.00% |
| 189 | Psyence Biomedical Ltd | PBMWW | 600,000 | $11,100 | 0.00% |
| 190 | Abpro Holdings Inc | ABPWW | 675,000 | $11,070 | 0.00% |
| 191 | Fusemachines Inc | FUSEW | 175,000 | $10,850 | 0.00% |
| 192 | CID Holdco Inc | DAICW | 100,000 | $8,010 | 0.00% |
| 193 | Beneficient | BENFW | 750,000 | $7,950 | 0.00% |
| 194 | Keen Vision Acquisition Corp | KVACW | 150,000 | $7,665 | 0.00% |
| 195 | Zeo Energy Corp | ZEOWW | 195,575 | $6,962 | 0.00% |
| 196 | Sequans Communications SA | SQNS | 1,540 | $6,915 | 0.00% |
| 197 | NewGenIvf Group Ltd | NIVFW | 375,000 | $6,375 | 0.00% |
| 198 | SMX Security Matters PLC | G8267K117 | 125,000 | $5,938 | 0.00% |
| 199 | Valens Semiconductor Ltd | VLN-WT | 214,067 | $5,352 | 0.00% |
| 200 | Blue Gold Ltd | BGLWW | 12,500 | $5,265 | 0.00% |
| 201 | MultiSensor AI Holdings Inc | MSAIW | 175,250 | $4,977 | 0.00% |
| 202 | Banzai International Inc | BNZIW | 352,409 | $4,934 | 0.00% |
| 203 | GIBO Holdings Ltd | GIBOW | 125,000 | $4,913 | 0.00% |
| 204 | Liminatus Pharma Inc | LIMNW | 111,745 | $3,911 | 0.00% |
| 205 | CDT Equity Inc | CDTTW | 700,000 | $3,850 | 0.00% |
| 206 | Apollomics Inc | APLMW | 250,000 | $2,775 | 0.00% |
| 207 | eLong Power Holding Ltd | ELPW | 1,480 | $2,694 | 0.00% |
| 208 | Classover Holdings Inc | KIDZW | 187,500 | $2,250 | 0.00% |
| 209 | Jet.AI Inc | JTAI | 1,343 | $787 | 0.00% |