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 | |
|---|---|---|---|---|---|---|---|
251
Mercator Acquisition Corp Warrant
MRCOW
| $37.5K | ﹤0.01% |
+125,000
| New | +$39.5K |
2026 Q3
0 quarters
|
|
252
Meshflow Acquisition Corp Warrants
MESHW
| $36.7K | ﹤0.01% |
166,666
| – | – |
2026 Q1
2 quarters
|
|
|
GHXIW
253
Gores Holdings XI Inc Warrant
GHXIW
| $36.2K | ﹤0.01% |
+62,500
| New | +$38.3K |
2026 Q3
0 quarters
|
|
254
Infinite Eagle Acquisition Corp Rights
IEAGR
| $36.1K | ﹤0.01% |
200,000
| – | – |
2026 Q1
2 quarters
|
|
255
Pasqal Holding SA Warrant
PSQLW
| $35.8K | ﹤0.01% |
+33,333
| New | +$49.6K |
2026 Q3
0 quarters
|
|
256
Indigo Acquisition Corp Right
INACR
| $35.3K | ﹤0.01% |
300,000
| – | – |
2025 Q3
4 quarters
|
|
257
Silvia, Inc. Warrant
SVIAW
$4.63M
| $35.2K | ﹤0.01% |
88,125
| – | – |
2025 Q2
5 quarters
|
|
258
Kochav Defense Acquisition Corp Right
KCHVR
| $35K | ﹤0.01% |
350,000
| – | – |
2025 Q3
4 quarters
|
|
259
BTC Development Corp Warrant
BDCIW
$2.02M
| $35K | ﹤0.01% |
87,500
| – | – |
2025 Q4
3 quarters
|
|
260
Illumination Acquisition Corp I Warrant
ILLUW
| $34.5K | ﹤0.01% |
93,333
| – | – |
2026 Q2
1 quarter
|
|
261
Oxley Bridge Acquisition Ltd Warrants
OBAWW
| $34.5K | ﹤0.01% |
150,000
| – | – |
2025 Q3
4 quarters
|
|
262
Pono Capital Four Inc Rights
PONOR
| $34.5K | ﹤0.01% |
150,000
| – | – |
2026 Q2
1 quarter
|
|
263
Hennessy Capital Investment Corp VIII Share Rights
HCICR
| $34.5K | ﹤0.01% |
400,000
| – | – |
2026 Q1
2 quarters
|
|
264
ONE Nuclear Energy Inc. Common Stock
ONEN
$150M
| $33.6K | ﹤0.01% |
+15,624
| New | +$40.3K |
2026 Q3
0 quarters
|
|
|
VII.WS
265
Viking Acquisition Corp II Warrants
VII.WS
| $33.5K | ﹤0.01% |
+100,000
| New | +$39.7K |
2026 Q3
0 quarters
|
|
266
Dynamix Corp III Warrants
DNMXW
| $33K | ﹤0.01% |
150,000
| – | – |
2025 Q4
3 quarters
|
|
267
Inflection Point Acquisition Corp VI Warrant
IPFXW
$4.39M
| $32.9K | ﹤0.01% |
44,413
| – | – |
2026 Q2
1 quarter
|
|
268
Lake Superior Acquisition Corp Rights
LKSPR
| $32.8K | ﹤0.01% |
25,000
| – | – |
2025 Q4
3 quarters
|
|
|
OSPRW
269
Osprey Acquisition Corp III Warrants
OSPRW
| $32.6K | ﹤0.01% |
+100,000
| New | +$36.8K |
2026 Q3
0 quarters
|
|
270
EON Resources Warrants
EONR.WS
$918K
| $32K | ﹤0.01% |
290,981
| – | – |
2022 Q2
17 quarters
|
|
|
ETSS.WS
271
Energy Transition Special Opportunities Warrants
ETSS.WS
| $31.9K | ﹤0.01% |
125,000
| – | – |
2026 Q2
1 quarter
|
|
272
Insight Digital Partners II Warrants
DYORW
| $31.6K | ﹤0.01% |
150,000
| – | – |
2025 Q4
3 quarters
|
|
273
CSLM Digital Asset Acquisition Corp III Warrants
KOYNW
$1.58M
| $31.5K | ﹤0.01% |
175,000
| – | – |
2025 Q4
3 quarters
|
|
274
SIM Acquisition Corp I Warrant
SIMAW
| $31.4K | ﹤0.01% |
185,000
| – | – |
2024 Q3
8 quarters
|
|
275
OTG Acquisition Corp I Warrants
OTGAW
| $31K | ﹤0.01% |
100,000
| – | – |
2025 Q4
3 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.