Context Capital Management Portfolio holdings
Context Capital Management is an alternative asset manager that runs hedged funds built mainly around convertible bonds. Its main strategies are convertible arbitrage, capital structure arbitrage and event-driven trading. Michael Rosen and William Fertig co-founded the firm. Rosen co-owned a mutual fund company that specialized in convertible securities, and in 1990 Fertig led McMahan Securities into brokering convertible and derivative securities. Charles Carnegie, its chief investment officer, first worked at the firm from 2005 to 2008 and returned in 2015 as portfolio manager. Its funds are open to high net worth individuals, corporations and other institutions.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
GSR V Acquisition Corp
GSRV
|
+$19.3M |
| 2 |
Snowflake
SNOW
|
+$15M |
| 3 |
Iris Energy
IREN
|
+$13.6M |
| 4 |
Halozyme
HALO
|
+$13.5M |
| 5 |
THEO
BOA Acquisition Corp II
THEO
|
+$12.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet Inc Depositary Shares Series A Preferred Stock
GOOGM
|
+$81.4M |
| 2 |
Alphabet Inc Depositary Shares Series B Preferred Stock
GOOGN
|
+$36.8M |
| 3 |
Oracle Corp Preferred Stock Series D
ORCL.PRD
|
+$24.7M |
| 4 |
Super Micro Computer Depositary Shares 7% Series A Preferred Stock
SMCIP
|
+$23.3M |
| 5 |
GSR V Acquisition Corp. Units
GSRVU
|
+$19.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 87.48% |
| 2 | Financials | 10.61% |
| 3 | Communication Services | 1.14% |
| 4 | Healthcare | 0.41% |
| 5 | Technology | 0.34% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
226
newcleo plc Warrants expiring 09/21/2031
NWCLW
| $50K | ﹤0.01% |
+50,000
| New | +$44.6K |
2026 Q3
0 quarters
|
|
227
Blue Acquisition Corp Right
BACCR
| $49K | ﹤0.01% |
100,000
| – | – |
2025 Q3
4 quarters
|
|
228
Aldabra 4 Liquidity Opportunity Vehicle Warrants
ALOVW
$3.4M
| $48.7K | ﹤0.01% |
133,333
| – | – |
2026 Q1
2 quarters
|
|
229
Drugs Made In America Acquisition II Corp Right
DMIIR
| $48.2K | ﹤0.01% |
750,000
| – | – |
2025 Q4
3 quarters
|
|
|
YICCW
230
Yorkville International Capital Corp Warrants
YICCW
$1.69M
| $48K | ﹤0.01% |
+133,333
| New | +$55.4K |
2026 Q3
0 quarters
|
|
|
OCLTR
231
OceanLight Acquisition Corporation Rights
OCLTR
| $47.8K | ﹤0.01% |
+290,000
| New | +$49.3K |
2026 Q3
0 quarters
|
|
232
Armada Acquisition Corp III Warrant
AACIW
$1.88M
| $47.6K | ﹤0.01% |
200,000
| – | – |
2026 Q2
1 quarter
|
|
233
New America Acquisition I Corp Warrants
NWAX.WS
| $47.5K | ﹤0.01% |
125,000
| – | – |
2026 Q1
2 quarters
|
|
234
RRE Ventures Acquisition Corp Warrants
RREVW
$2.25M
| $46.7K | ﹤0.01% |
133,333
| – | – |
2026 Q2
1 quarter
|
|
235
Evolution Global Acquisition Corp Warrants
EVOXW
$2.52M
| $46.5K | ﹤0.01% |
150,000
| – | – |
2025 Q4
3 quarters
|
|
236
EQV Ventures Acquisition Corp II Warrants
EVAC.WS
| $45.6K | ﹤0.01% |
150,000
| – | – |
2025 Q3
4 quarters
|
|
237
Globa Terra Acquisition Corp Rights
GTERR
| $45.5K | ﹤0.01% |
700,000
| – | – |
2025 Q3
4 quarters
|
|
238
Cal Redwood Acquisition Corp Right
CRAQR
| $45K | ﹤0.01% |
300,000
| – | – |
2025 Q3
4 quarters
|
|
239
Bleichroeder Acquisition Corp III Warrant
BCCQW
| $45K | ﹤0.01% |
+50,000
| New | +$43K |
2026 Q3
0 quarters
|
|
240
Factorial Energy Inc Warrant
FACWW
$9.7M
| $45K | ﹤0.01% |
50,000
| – | – |
2025 Q2
5 quarters
|
|
241
K2 Capital Acquisition Corp Rights
KTWOR
| $43.9K | ﹤0.01% |
225,000
| – | – |
2026 Q1
2 quarters
|
|
242
Art Technology Acquisition Corp Warrants
ARTCW
| $41.9K | ﹤0.01% |
125,000
| – | – |
2026 Q1
2 quarters
|
|
243
Iris Acquisition Corp II Warrants
IRAB.WS
| $41.2K | ﹤0.01% |
125,000
| – | – |
2026 Q1
2 quarters
|
|
|
NSAIR
244
NorthStrive Acquisition Corp I. Rights
NSAIR
| $41.2K | ﹤0.01% |
+275,000
| New | +$41.3K |
2026 Q3
0 quarters
|
|
245
Launchpad Cadenza Acquisition Corp I Warrant
LPCVW
| $40.7K | ﹤0.01% |
133,333
| – | – |
2026 Q1
2 quarters
|
|
246
Invest Green Acquisition Corp Rights
IGACR
| $40K | ﹤0.01% |
250,000
| – | – |
2025 Q4
3 quarters
|
|
247
EGH Acquisition Corp Rights
EGHAR
| $39.5K | ﹤0.01% |
150,000
| – | – |
2025 Q3
4 quarters
|
|
248
Xsolla SPAC 1 Warrants
XSLLW
$1.63M
| $38.5K | ﹤0.01% |
192,500
| – | – |
2026 Q1
2 quarters
|
|
249
Harvard Ave Acquisition Corp Rights
HAVAR
| $38.4K | ﹤0.01% |
300,000
| – | – |
2025 Q4
3 quarters
|
|
250
Vendome Acquisition Corp I Warrant
VNMEW
| $37.5K | ﹤0.01% |
150,000
| – | – |
2025 Q3
4 quarters
|
|
Similar funds
Context Capital Management's Q3 2026 Portfolio in Review
As of Q3 2026, Context Capital Management held 505 positions worth $4.89B, down 5.1% from $5.15B the previous quarter. Its ten largest holdings account for 26% of the portfolio.
Context Capital Management withdrew a net $3.86B in Q3 2026, closing 42 positions and reducing 10 holdings. Its most notable exit was Oracle Corp Preferred Stock Series D, an estimated $24.7M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 87% of assets, down from 88% a quarter earlier, followed by Financials and Communication Services.
Against the trend, Context Capital Management opened a new position in GSR V Acquisition Corp worth $19.3M.
- Context Capital Management's largest Q3 2026 buy was GSR V Acquisition Corp: 1,950,000 shares worth $19.3M.
- Context Capital Management's biggest Q3 2026 reduction was Alphabet Inc Depositary Shares Series A Preferred Stock, cutting an estimated $81.4M.
- Context Capital Management fully exited Oracle Corp Preferred Stock Series D in Q3 2026, selling an estimated $24.7M.
- Context Capital Management's ten largest holdings make up 26% of its $4.89B portfolio in Q3 2026.
- Context Capital Management opened 85 new positions and closed 42 in Q3 2026.
- Context Capital Management's portfolio value fell 5.1% quarter-over-quarter to $4.89B.
Based on Context Capital Management's 13F filing for Q3 2026, filed 4 Nov 2026.