MondegarAI
MMCAP International Inc. SPC

Q4 2025 · 13F-HR

MMCAP International Inc. SPCholdings as filed

Filed 2026-02-09 · accession 0000912282-26-000275

$1.00B
Reported value
208
Positions
2025-12-31
Period end
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The Brief · MMCAP International Inc. SPC · Q4 2025

AI · grounded in 13F

MMCAP International Inc. SPC established a new position in CCXIU worth $27.57M. The fund also opened new stakes in MESHU for $15M and IRHOU for $14.92M. On the sell side, the fund closed its position in INFQ, reducing its exposure by $20.32M. Other notable activity includes a 4,759.12% increase in shares of NXE and a 96.96% reduction in ASST.

Holdings as filed

CUSIPTickerIssuerValue% port.SharesClassVoting
04040Y109ARISAris Mining Corp$224.4M22.4%13,804,061CommonSOLE
015658107ASTLAlgoma Steel Group Inc$47.1M4.71%11,487,861CommonSOLE
G2131A124CCXIUChurchill Capital Corp XI$27.6M2.76%2,700,000CommonSOLE
G2851K120DMIIUDrugs Made In America Acquisit$27.0M2.70%2,700,000CommonSOLE
G6476A102NPACNew Providence Acquisition Cor$22.6M2.26%2,200,000CommonSOLE
65340P106NXENexGen Energy SEG$22.4M2.23%2,429,898CommonSOLE
G3415K101FERAFifth Era Acquisition Corp I$19.6M1.95%1,900,000CommonSOLE
248356107DNNDenison Mines Corp$19.2M1.92%7,219,531CommonSOLE
G7515A103RDAGRepublic Digital Acquisition C$15.8M1.58%1,565,000CommonSOLE
G5S86M100LPAALaunch One Acquisition Corp$15.7M1.57%1,480,000CommonSOLE
G1828E100CEPFCantor Equity Partners IV Inc$15.4M1.54%1,500,000CommonSOLE
G6032N127MESHUMeshflow Acquisition Corp$15.0M1.50%1,500,000CommonSOLE
46283H202IRHOUIron Horse Acquisition II Corp$14.9M1.49%1,500,000CommonSOLE
916896103UECUranium Energy Corp$14.6M1.46%1,248,363CommonSOLE
G21301109CCIXChurchill Capital Corp IX$14.4M1.43%1,350,000CommonSOLE
G47875102IPCXInflection Point Acquisition C$14.2M1.42%1,400,000CommonSOLE
G19307100CGCTCARTESIAN GROWTH CORP III$13.9M1.39%1,350,000CommonSOLE
G4035N103GPATGP-Act III Acquisition Corp$13.6M1.36%1,275,000CommonSOLE
G3265R107APTVAptiv PLC$13.0M1.30%170,268CommonSOLE
G20315100ALFCenturion Acquisition Corp$12.5M1.25%1,175,000CommonSOLE
G1828S109CEPVCantor Equity Partners V Inc$12.3M1.23%1,200,000CommonSOLE
G9R39C103WENNWen Acquisition Corp$12.1M1.21%1,200,000CommonSOLE
G63221108MBVIM3-Brigade Acquisition VI Corp$11.0M1.10%1,100,000CommonSOLE
29259W700EUEncore Energy Corp$10.7M1.07%4,316,238CommonSOLE
G5501C109CUBLionheart Holdings$10.4M1.04%980,000CommonSOLE
G8431T101SIMASIM Acquisition Corp I$10.4M1.04%980,000CommonSOLE
G81354105SBXDSilverbox Corp IV$10.4M1.04%980,000CommonSOLE
59982U200SUIGSui Group Holdings Ltd$10.3M1.03%6,141,356CommonSOLE
G4375F108HYACHaymaker Acquisition Corp 4$10.2M1.02%900,000CommonSOLE
G3730U107FCRSFutureCrest Acquisition Corp$10.1M1.01%1,000,000CommonSOLE
G4365E103HCMAHCM III Acquisition Corp$10.0M1.00%1,000,000CommonSOLE
G9009S103BLZRTrailblazer Acquisition Corp$10.0M1.00%1,000,000CommonSOLE
G6001S123LPCVULaunchpad Cadenza Acquisition$10.0M1.00%1,000,000CommonSOLE
G0R91M121ADACUAmerican Drive Acquisition Co$10.0M1.00%1,000,000CommonSOLE
73044W302POETPOET Technologies Inc$9.7M0.97%1,526,205CommonSOLE
G4036C106GRAFGraf Global Corp$8.9M0.89%830,000CommonSOLE
G4977S128ITHAUITHAX Acquisition Corp III$8.0M0.80%800,000CommonSOLE
962166104WYWeyerhaeuser Co$7.8M0.78%327,500CommonSOLE
G1828A108CAEPCantor Equity Partners III Inc$7.7M0.76%750,000CommonSOLE
G6858G107OBAOxley Bridge Acquisition Ltd$7.6M0.76%750,000CommonSOLE
G8148S123SBXE/USilverBox Corp V$7.5M0.75%750,000CommonSOLE
G7117W107PACHPioneer Acquisition I Corp$7.5M0.75%750,000CommonSOLE
22717L101CRONCronos Group Inc$7.3M0.73%2,761,059CommonSOLE
820014405SBETSharplink Gaming Inc$7.2M0.72%807,600CommonSOLE
G0273J101AEXAAmerican Exceptionalism Acquis$7.2M0.72%631,494CommonSOLE
G4002F109GTENGores Holdings X Inc$7.2M0.72%700,000CommonSOLE
G25014120CRANUCrane Harbor Acquisition Corp$6.5M0.65%650,000CommonSOLE
G6757R105ONCH1RT Acquisition Corp$6.1M0.61%600,000CommonSOLE
G26745102POLEAndretti Acquisition Corp II$6.1M0.61%580,000CommonSOLE
12664M103NOEMCO2 Energy Transition Corp$6.1M0.61%590,000CommonSOLE
37045V100GMGeneral Motors Co$5.4M0.54%66,338CommonSOLE
292671708UUUUEnergy Fuels Inc/Canada$5.2M0.52%357,225CommonSOLE
G5S87A105LPBBLaunch Two Acquisition Corp$5.0M0.50%480,000CommonSOLE
G3473K100FIGXFIGX Capital Acquisition Corp$5.0M0.50%500,000CommonSOLE
184492106ZONECleancore Solutions Inc$4.8M0.48%18,356,175CommonSOLE
G6439S109NTWONewbury Street II Acquisition$4.7M0.47%450,000CommonSOLE
881454102IMSRTerrestrial Energy Inc$4.6M0.46%750,000CommonSOLE
G63212107MBAVM3-Brigade Acquisition V Corp$4.3M0.43%400,000CommonSOLE
74319B502PROFProfound Medical Corp$4.2M0.42%531,362CommonSOLE
03938L203MTArcelorMittal SA$4.2M0.42%91,427CommonSOLE
G1352R121BLRKUBluerock Acquisition Corp$4.0M0.40%400,000CommonSOLE
09173B1071B2Bitfarms Ltd/Canada$4.0M0.40%1,695,298CommonSOLE
G9145D127TWLVUTwelve Seas Investment Co III$4.0M0.40%400,000CommonSOLE
39959A205UPXIUpexi Inc$3.9M0.39%2,326,777CommonSOLE
099724106BWABorgWarner Inc$3.8M0.38%85,138CommonSOLE
G9008W105TDACTranslational Development Acqu$3.7M0.37%350,000CommonSOLE
G2130T116INFQ/WSChurchill Capital Corp X$3.3M0.33%430,970CommonSOLE
M2573A106ZOOZZOOZ Strategy Ltd$3.1M0.31%7,000,000CommonSOLE
G8254P129SCPQUSocial Commerce Partners Corp$3.0M0.30%300,000CommonSOLE
G8475V103SVCCStellar V Capital Corp$2.9M0.29%280,000CommonSOLE
G93A7H104VACHVoyager Acquisition Corp$2.7M0.27%250,000CommonSOLE
G1331A108BACCBlue Acquisition Corp$2.6M0.26%250,000CommonSOLE
G7375J129RNGTURange Capital Acquisition Corp$2.5M0.25%250,000CommonSOLE
G5490M100LWACLightwave Acquisition Corp$2.5M0.25%250,000CommonSOLE
668771116GENVRGen Digital Inc$2.5M0.25%542,308CommonSOLE
46500E867ISOUIsoEnergy Ltd$2.4M0.24%270,745CommonSOLE
64440N103NFGCNew Found Gold Corp$2.2M0.22%745,835CommonSOLE
89469A104THSTreeHouse Foods Inc$2.2M0.22%93,700CommonSOLE
G6486E102NHICNewHold Investment Corp III$2.1M0.21%200,000CommonSOLE
G1368E106BLUWBlue Water Acquisition Corp II$2.1M0.21%200,000CommonSOLE
G6861F104OYSEOyster Enterprises II Acquisit$2.0M0.20%200,000CommonSOLE
G3226F127EVOXUEvolution Global Acquisition C$2.0M0.20%200,000CommonSOLE
G2616C124DSACUDaedalus Special Acquisition C$2.0M0.20%200,000CommonSOLE
G0081J129AEAQUActivate Energy Acquisition Co$2.0M0.20%200,000CommonSOLE
143130102KMXCarMax Inc$1.8M0.18%47,257CommonSOLE
858119100STLDSteel Dynamics Inc$1.8M0.18%10,711CommonSOLE
G3852D107GSHRGesher Acquisition Corp II$1.8M0.18%175,000CommonSOLE
G42386121HCACUHall Chadwick Acquisition Corp$1.8M0.18%175,000CommonSOLE
G5414D129LFACULeapfrog Acquisition Corp$1.5M0.15%150,000CommonSOLE
G2086N105CHECChenghe Acquisition III Co$1.5M0.15%150,000CommonSOLE
G1143H127BIXIUBitcoin Infrastructure Acquisi$1.5M0.15%150,000CommonSOLE
G04537109ATIIArchimedes Tech SPAC Partners$1.3M0.13%125,000CommonSOLE
G1069P103BSAABEST SPAC I Acquisition Corp$1.3M0.13%125,000CommonSOLE
86765Q106SUNCSunococorp LLC$1.1M0.11%22,755CommonSOLE
G5451A103LEGTLegato Merger Corp III$1.1M0.11%100,000CommonSOLE
G7257A105PCAPProCap Acquisition Corp$1.0M0.10%100,000CommonSOLE
G3R25N108LATAGalata Acquisition Corp II$996,0000.10%100,000CommonSOLE
39525U107GFRGreenfire Resources Ltd$991,8000.10%207,309CommonSOLE
13646K108CPCanadian Pacific Kansas City L$942,4640.09%12,800CommonSOLE
G3415K135FERARFifth Era Acquisition Corp I$759,8100.08%1,900,000CommonSOLE
G8662J111TDWDTailwind 2.0 Acquisition Corp$738,7500.07%75,000CommonSOLE
X3R81D110AFRIWForafric Global PLC$726,4600.07%518,900CommonSOLE
91688R108URGUr-Energy Inc$716,9290.07%515,776CommonSOLE
G4375F116Haymaker Acquisition Corp 4$697,5000.07%450,000CommonSOLE
125269100CFCF Industries Holdings Inc$696,0600.07%9,000CommonSOLE
H5870P110OCSAWOculis Holding AG$625,0940.06%73,025CommonSOLE
46438R105ETHAiShares Ethereum Trust ETF$560,7500.06%25,000CommonSOLE
G19307126CGCTWCARTESIAN GROWTH CORP III$533,2500.05%675,000CommonSOLE
G47875110IPCXRInflection Point Acquisition C$529,2000.05%1,400,000CommonSOLE
G2662B111CRMLWCritical Metals Corp$514,8780.05%188,600CommonSOLE
G7515A129RDAGWRepublic Digital Acquisition C$453,8500.05%782,500CommonSOLE
862945102ASSTStrive Inc$416,0840.04%563,800CommonSOLE
G20315118ALFUWCenturion Acquisition Corp$396,0000.04%1,237,500CommonSOLE
83411A205STKESol Strategies Inc$379,8120.04%250,000CommonSOLE
G6476A110NPACWNew Providence Acquisition Cor$370,5530.04%733,333CommonSOLE
19425C100CNLCollective Mining Ltd$353,0790.04%24,170CommonSOLE
G63212115MBAVWM3-Brigade Acquisition V Corp$305,9620.03%349,671CommonSOLE
092915115BZAIWBlaize Holdings Inc$299,9250.03%750,000CommonSOLE
G21301117CCIXWChurchill Capital Corp IX$298,6200.03%337,500CommonSOLE
G4035N129GPATWGP-Act III Acquisition Corp$279,7100.03%1,037,500CommonSOLE
01861F110AENTWAlliance Entertainment Holding$249,8120.02%294,000CommonSOLE
G5S86M126LPAAWLaunch One Acquisition Corp$247,5000.02%990,000CommonSOLE
G75398118RZLVWRezolve AI PLC$227,5000.02%250,000CommonSOLE
G8431T119SIMAWSIM Acquisition Corp I$213,2460.02%990,000CommonSOLE
14161Y200CRDLCardiol Therapeutics Inc$199,2970.02%208,950CommonSOLE
G4036C122GRAF/WSGraf Global Corp$187,5800.02%415,000CommonSOLE
G9R39C111WENNWWen Acquisition Corp$186,1800.02%600,000CommonSOLE
G3730U115FCRS/WSFutureCrest Acquisition Corp$182,5000.02%250,000CommonSOLE
926711300QXLViewBix Inc$177,4720.02%115,995CommonSOLE
G5501C117CUBWWLionheart Holdings$168,3000.02%990,000CommonSOLE
G4365E111HCMAWHCM III Acquisition Corp$166,6670.02%333,333CommonSOLE
G4002F125GTENWGores Holdings X Inc$162,7330.02%175,000CommonSOLE
G9009S111BLZRWTrailblazer Acquisition Corp$160,0330.02%333,333CommonSOLE
G5S87A113LPBBWLaunch Two Acquisition Corp$154,6930.02%490,000CommonSOLE
M0740A116DRTSWAlpha Tau Medical Ltd$152,1910.02%447,622CommonSOLE
G63221116MBVIWM3-Brigade Acquisition VI Corp$135,6660.01%366,666CommonSOLE
12664M129NOEMRCO2 Energy Transition Corp$130,3900.01%590,000CommonSOLE
G4992A136JACS-RJackson Acquisition Co II$125,0000.01%500,000CommonSOLE
256827783DVSDolly Varden Silver Corp$109,5610.01%25,000CommonSOLE
12664M111NOEMWCO2 Energy Transition Corp$99,4150.01%590,000CommonSOLE
G7117W115PACHWPioneer Acquisition I Corp$97,5000.01%375,000CommonSOLE
G81354121SBXD/WSSilverbox Corp IV$91,4990.01%326,666CommonSOLE
G6757R113ONCHW1RT Acquisition Corp$87,0150.01%150,000CommonSOLE
G26745128POLEWAndretti Acquisition Corp II$83,6940.01%290,000CommonSOLE
G6858G115OBAWWOxley Bridge Acquisition Ltd$82,5380.01%375,000CommonSOLE
G6375R107NESRNational Energy Services Reuni$81,8550.01%5,227CommonSOLE
G1331A116BACCRBlue Acquisition Corp$81,0250.01%250,000CommonSOLE
G3473K118FIGXWFIGX Capital Acquisition Corp$68,6750.01%250,000CommonSOLE
73245B115SBCWWSBC Medical Group Holdings Inc$66,9900.01%330,000CommonSOLE
G1152A120FUFUWBitFuFu Inc$66,0000.01%330,000CommonSOLE
36118R103FUSEFusemachines Inc$57,7500.01%35,000CommonSOLE
G6439S117NTWOWNewbury Street II Acquisition$56,4750.01%225,000CommonSOLE
G8316B118SPKLWSpark I Acquisition Corp$55,1250.01%175,000CommonSOLE
G9008W113TDACWTranslational Development Acqu$54,2500.01%175,000CommonSOLE
G1368E114BLUWWBlue Water Acquisition Corp II$53,0000.01%100,000CommonSOLE
26145B114DFLIWDragonfly Energy Holdings Corp$47,2500.00%675,000CommonSOLE
G0231P108ALPSAlps Group Inc$46,9480.00%54,000CommonSOLE
G8475V111SVCCWStellar V Capital Corp$46,1860.00%140,000CommonSOLE
G6486E110NHICWNewHold Investment Corp III$45,0300.00%100,000CommonSOLE
80401C118SATLWSatellogic Inc$42,5000.00%166,666CommonSOLE
G7606H116RDZNWRoadzen Inc$40,7550.00%150,000CommonSOLE
92919Y110VSEEWVSee Health Inc$40,0500.00%500,000CommonSOLE
G6861F138OYSEROyster Enterprises II Acquisit$40,0000.00%200,000CommonSOLE
G3852D115GSHRWGesher Acquisition Corp II$39,3750.00%87,500CommonSOLE
03464C205AECAnfield Energy Inc$34,8990.00%6,787CommonSOLE
G04537125ATIIWArchimedes Tech SPAC Partners$34,3190.00%62,500CommonSOLE
G5490M126LWACWLightwave Acquisition Corp$33,7500.00%125,000CommonSOLE
020952115AMODWAlpha Modus Holdings Inc$32,2810.00%588,000CommonSOLE
G0232F133ALCWFAlchemy Investments Acquisitio$31,5000.00%150,000CommonSOLE
G5568L117LZM/WSLifezone Metals Ltd$28,6780.00%69,810CommonSOLE
88165K119TVGNWTevogen Bio Holdings Inc$27,4300.00%650,000CommonSOLE
29103K118FLDDWFold Holdings Inc$26,6000.00%175,000CommonSOLE
G93A7H112VACHWVoyager Acquisition Corp$25,6250.00%125,000CommonSOLE
63911H116KITTWNauticus Robotics Inc$22,5500.00%500,000CommonSOLE
G5451A111LEGT/WSLegato Merger Corp III$20,5050.00%50,000CommonSOLE
68218J111OABIWOmniAb Inc$18,9840.00%158,333CommonSOLE
G1069P129BSAARBEST SPAC I Acquisition Corp$18,8750.00%125,000CommonSOLE
95758L115CYCUWCycurion Inc$17,0000.00%500,000CommonSOLE
351665112FOXXWFoxx Development Holdings Inc$16,8000.00%160,000CommonSOLE
M6000J127HUBCWHub Cyber Security Ltd$16,5410.00%898,991CommonSOLE
G3R95P116OIOWWESGL Holdings Ltd$15,4750.00%154,750CommonSOLE
G2086N121CHECWChenghe Acquisition III Co$15,0000.00%75,000CommonSOLE
G3R25N116LATAWGalata Acquisition Corp II$13,3330.00%33,333CommonSOLE
G63369113MRNOWMurano Global Investments PLC$13,1500.00%500,000CommonSOLE
G7257A121PCAPWProCap Acquisition Corp$12,3700.00%33,333CommonSOLE
G8662J129TDWDRTailwind 2.0 Acquisition Corp$12,3000.00%75,000CommonSOLE
40472A128EONR/WSEON Resources Inc$12,2310.00%257,500CommonSOLE
74449F118PBMWWPsyence Biomedical Ltd$11,1000.00%600,000CommonSOLE
000847111ABPWWAbpro Holdings Inc$11,0700.00%675,000CommonSOLE
36118R111FUSEWFusemachines Inc$10,8500.00%175,000CommonSOLE
171756117DAICWCID Holdco Inc$8,0100.00%100,000CommonSOLE
08178Q119BENFWBeneficient$7,9500.00%750,000CommonSOLE
G52443127KVACWKeen Vision Acquisition Corp$7,6650.00%150,000CommonSOLE
98944F117ZEOWWZeo Energy Corp$6,9620.00%195,575CommonSOLE
817323405SQNSSequans Communications SA$6,9150.00%1,540CommonSOLE
G0544E113NIVFWNewGenIvf Group Ltd$6,3750.00%375,000CommonSOLE
G8267K117SMXWWSMX Security Matters PLC$5,9380.00%125,000CommonSOLE
M9607U107VLN/WSValens Semiconductor Ltd$5,3520.00%214,067CommonSOLE
G1331C112BGLWWBlue Gold Ltd$5,2650.00%12,500CommonSOLE
456948116MSAIWMultiSensor AI Holdings Inc$4,9770.00%175,250CommonSOLE
06682J118BNZIWBanzai International Inc$4,9340.00%352,409CommonSOLE
G38617117GIBOWGIBO Holdings Ltd$4,9130.00%125,000CommonSOLE
53271X116LIMNWLiminatus Pharma Inc$3,9110.00%111,745CommonSOLE
20678X114CDTTWCDT Equity Inc$3,8500.00%700,000CommonSOLE
G0411D115APLMWApollomics Inc$2,7750.00%250,000CommonSOLE
G3016G111ELPWeLong Power Holding Ltd$2,6940.00%1,480CommonSOLE
182744110KIDZWClassover Holdings Inc$2,2500.00%187,500CommonSOLE
47714H308JTAIJet.AI Inc$7870.00%1,343CommonSOLE

Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.