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 | |
|---|---|---|---|---|---|---|---|
|
FDMMW
276
Freedom Metals Acquisition Corp Warrants
FDMMW
| $31K | ﹤0.01% |
+100,000
| New | +$37.4K |
2026 Q3
0 quarters
|
|
277
Cohen Circle Acquisition Corp II Warrant
CCIIW
$3.25M
| $30.8K | ﹤0.01% |
50,000
| – | – |
2025 Q3
4 quarters
|
|
278
KRAKacquisition Corp Warrants
KRAQW
$2.5M
| $29.3K | ﹤0.01% |
75,000
| – | – |
2026 Q1
2 quarters
|
|
279
M Evo Global Acquisition Corp II Warrants
MEVOW
$4.05M
| $29K | ﹤0.01% |
100,000
| – | – |
2026 Q1
2 quarters
|
|
280
1RT Acquisition Corp Warrant
ONCHW
| $28.1K | ﹤0.01% |
62,500
| – | – |
2025 Q3
4 quarters
|
|
281
Axiom Intelligence Acquisition Corp 1 Right
AXINR
| $27.7K | ﹤0.01% |
150,000
| – | – |
2025 Q3
4 quarters
|
|
282
Bluerock Acquisition Corp Warrants
BLRKW
| $27.5K | ﹤0.01% |
83,333
| – | – |
2026 Q1
2 quarters
|
|
283
Collective Acquisition Corp II Warrants
CAIIW
$2.15M
| $26.2K | ﹤0.01% |
150,000
| – | – |
2026 Q2
1 quarter
|
|
|
XTERW
284
Xterax Corporation II Warrants
XTERW
| $26K | ﹤0.01% |
+100,000
| New | +$26.7K |
2026 Q3
0 quarters
|
|
285
Titan Acquisition Corp Warrants
TACHW
$5.5M
| $26K | ﹤0.01% |
50,000
| – | – |
2025 Q2
5 quarters
|
|
286
Twelve Seas Investment Co III Rights
TWLVR
| $26K | ﹤0.01% |
200,000
| – | – |
2026 Q1
2 quarters
|
|
287
TGE Value Creative Solutions Corp Warrants
BEBE.WS
| $25.5K | ﹤0.01% |
137,500
| – | – |
2026 Q1
2 quarters
|
|
288
Black Spade Acquisition III Co Warrants
BIII.WS
| $25.4K | ﹤0.01% |
66,867
| – | – |
2026 Q1
2 quarters
|
|
289
Drugs Made In America Acquisition Corp Rights
DMAAR
| $25.1K | ﹤0.01% |
201,016
| – | – |
2025 Q3
4 quarters
|
|
290
Apex Treasury Corp Warrants
APXTW
$3.78M
| $24K | ﹤0.01% |
74,900
| – | – |
2025 Q4
3 quarters
|
|
291
Exascale Labs Holdings Inc. Warrant
XLABW
| $23.9K | ﹤0.01% |
+149,300
| New | +$44.6K |
2026 Q3
0 quarters
|
|
292
Space Asset Acquisition Corp Warrants
SAAQW
$2.74M
| $23.5K | ﹤0.01% |
50,000
| – | – |
2026 Q1
2 quarters
|
|
293
Emmis Acquisition Corp Rights
EMISR
| $23.4K | ﹤0.01% |
300,000
| – | – |
2025 Q4
3 quarters
|
|
294
IB Acquisition Corp Right
IBACR
| $23K | ﹤0.01% |
200,000
| – | – |
2024 Q2
9 quarters
|
|
295
QDRO Acquisition Corp Warrant
QADRW
$2.2M
| $23K | ﹤0.01% |
100,000
| – | – |
2026 Q2
1 quarter
|
|
|
FXACW
296
FortuneX Acquisition Corp Warrant
FXACW
$44.3K
| $22.7K | ﹤0.01% |
+137,500
| New | +$22K |
2026 Q3
0 quarters
|
|
297
ITHAX Acquisition Corp III Warrants
ITHAW
| $22.5K | ﹤0.01% |
125,000
| – | – |
2026 Q1
2 quarters
|
|
298
Range Capital Acquisition Corp II Warrants
RNGTW
$2.84M
| $22.4K | ﹤0.01% |
75,000
| – | – |
2025 Q4
3 quarters
|
|
299
Oyster Enterprises II Acquisition Corp Rights
OYSER
| $22.1K | ﹤0.01% |
250,782
| – | – |
2025 Q3
4 quarters
|
|
300
InterPrivate Investment Partners V Warrants
IPVVW
$873K
| $21.7K | ﹤0.01% |
+66,666
| New | +$23K |
2026 Q3
0 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.