Cable Car Capital Portfolio holdings
Cable Car Capital manages a private fund, Funicular Funds, using a concentrated, hedged approach to value investing. It buys mostly stocks of public companies worldwide, keeps its positions concentrated, and sells other stocks short to protect capital when markets fall. Its short selling sometimes involves activism, including published research and engagement with regulators. Jacob Ma-Weaver and Annie Ma-Weaver own the firm. Investors in its funds must be accredited investors.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVIDIA
NVDA
|
+$341M |
| 2 |
Microsoft
MSFT
|
+$259M |
| 3 |
Micron Technology
MU
|
+$249M |
| 4 |
Tesla
TSLA
|
+$207M |
| 5 |
Amazon
AMZN
|
+$113M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Oruka Therapeutics
ORKA
|
+$9.8M |
| 2 |
NXG NextGen Infrastructure Income Fund
NXG
|
+$5.77M |
| 3 |
Melar Acquisition Corp I
MACI
|
+$5.3M |
| 4 |
BlackRock Utilities, Infrastructure & Power Opportunities Trust
BUI
|
+$5.23M |
| 5 |
RF Acquisition Corp III Units
RFAMU
|
+$3.96M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 56.16% |
| 2 | Technology | 27.32% |
| 3 | Consumer Discretionary | 9.16% |
| 4 | Industrials | 2.65% |
| 5 | Healthcare | 1.42% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
51
American Well
AMWL
$217M
| $9.14M | 0.2% |
1,002,650
| – | – |
2025 Q4
2 quarters
|
|
52
DELISTED
Forte Biosciences
FBRX
| $8.5M | 0.18% |
400,000
| – | – |
2023 Q4
10 quarters
|
|
53
PUT
AmpliTech
AMPG
$79.5M
| $6.96M | 0.15% |
+1,000,000
| New | +$4.19M |
2026 Q2
0 quarters
|
|
54
Alaska Air
ALK
$3.99B
| $6.94M | 0.15% |
+132,900
| New | +$5.68M |
2026 Q2
0 quarters
|
|
|
55
PUT
Alaska Air
ALK
$3.99B
| $6.94M | 0.15% |
+132,900
| New | +$5.68M |
2026 Q2
0 quarters
|
|
56
Pangaea Logistics
PANL
$521M
| $5.66M | 0.12% |
870,000
| – | – |
2023 Q4
10 quarters
|
|
57
Rein Therapeutics
RNTX
$57.8M
| $5.4M | 0.12% |
5,195,000
+4,775,000
| +1,137% | +$5.78M |
2024 Q2
8 quarters
|
|
58
Sprott Physical Gold and Silver Trust
CEF
$6.46B
| $5.03M | 0.11% |
125,000
-75,000
| -38% | -$3.5M |
2026 Q1
1 quarter
|
|
59
Cornerstone Total Return Fund
CRF
$991M
| $4.76M | 0.1% |
662,510
+12,511
| +2% | +$89.9K |
2023 Q4
10 quarters
|
|
60
Floor & Decor
FND
$4.96B
| $4.71M | 0.1% |
+79,400
| New | +$4.02M |
2026 Q2
0 quarters
|
|
|
61
PUT
Floor & Decor
FND
$4.96B
| $4.71M | 0.1% |
+79,400
| New | +$4.02M |
2026 Q2
0 quarters
|
|
62
ImageneBio Inc
IMA
$46.5M
| $4.61M | 0.1% |
781,599
+26,850
| +4% | +$152K |
2025 Q4
2 quarters
|
|
63
RF Acquisition Corp III
RFAM
$139M
| $3.96M | 0.08% |
+400,000
| New | +$3.95M |
2026 Q2
0 quarters
|
|
64
Cementos Pacasmayo
CPAC
$1.09B
| $3.59M | 0.08% |
+300,000
| New | +$3.25M |
2026 Q2
0 quarters
|
|
65
Belden
BDC
$4.13B
| $3.5M | 0.08% |
+29,200
| New | +$3.4M |
2026 Q2
0 quarters
|
|
|
66
PUT
Belden
BDC
$4.13B
| $3.5M | 0.08% |
+29,200
| New | +$3.4M |
2026 Q2
0 quarters
|
|
67
A2Z Smart Technologies
AZ
$270M
| $3.49M | 0.07% |
600,000
| – | – |
2025 Q1
5 quarters
|
|
68
Spruce Biosciences
SPRB
$133M
| $3.24M | 0.07% |
+60,000
| New | +$3.35M |
2026 Q2
0 quarters
|
|
69
Syntec Optics Holdings Warrant
OPTXW
$19.9M
| $2.93M | 0.06% |
1,148,260
+703,427
| +158% | +$1.21M |
2026 Q1
1 quarter
|
|
|
70
Amplitech Group Series B Right
AMPGZ
| $2.49M | 0.05% |
1,714,394
+764,394
| +80% | +$644K |
2026 Q1
1 quarter
|
|
|
71
DELISTED
Amplitech Group Series A Right
AMPGR
| $2.48M | 0.05% |
1,258,097
+308,097
| +32% | +$277K |
2026 Q1
1 quarter
|
|
72
Iris Acquisition Corp II
IRAB
| $2.23M | 0.05% |
+225,000
| New | +$2.23M |
2026 Q2
0 quarters
|
|
73
Nasus Pharma
NSRX
$36M
| $2.16M | 0.05% |
616,081
+14,083
| +2% | +$41.3K |
2026 Q1
1 quarter
|
|
74
Comstock
LODE
$107M
| $2.08M | 0.04% |
500,000
| – | – |
2026 Q1
1 quarter
|
|
75
McKinley Acquisition Corp
MKLY
$250M
| $2.03M | 0.04% |
+200,000
| New | +$2.03M |
2026 Q2
0 quarters
|
|
Similar funds
Cable Car Capital's Q2 2026 Portfolio in Review
As of Q2 2026, Cable Car Capital held 252 positions worth $4.66B, up 1,511% from $289M the previous quarter. Its ten largest holdings account for 58% of the portfolio.
Cable Car Capital deployed $1.78B of net new capital in Q2 2026, opening 123 new positions and adding to 16 existing holdings. Its largest new stake was NVIDIA: 1,658,500 shares worth $332M.
By sector, the portfolio is most concentrated in Miscellaneous at 56% of assets, up from 55% a quarter earlier, followed by Technology and Consumer Discretionary.
On the sell side, the largest reduction was BlackRock Utilities, Infrastructure & Power Opportunities Trust, an estimated $5.23M trimmed.
- Cable Car Capital's largest Q2 2026 buy was NVIDIA: 1,658,500 shares worth $332M.
- Cable Car Capital added most to Rein Therapeutics in Q2 2026, an estimated $5.78M increase.
- Cable Car Capital's biggest Q2 2026 reduction was BlackRock Utilities, Infrastructure & Power Opportunities Trust, cutting an estimated $5.23M.
- Cable Car Capital fully exited Oruka Therapeutics in Q2 2026, selling an estimated $9.8M.
- Cable Car Capital's ten largest holdings make up 58% of its $4.66B portfolio in Q2 2026.
- Cable Car Capital opened 123 new positions and closed 37 in Q2 2026.
- Cable Car Capital's portfolio value rose 1,511% quarter-over-quarter to $4.66B.
Based on Cable Car Capital's 13F filing for Q2 2026, filed 14 Aug 2026.