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 | |
|---|---|---|---|---|---|---|---|
326
Collective Acquisition Corp Warrants
CCAQW
| $12.8K | ﹤0.01% |
74,700
| – | – |
2025 Q2
5 quarters
|
|
327
Legato Merger Corp IV Warrants
LEGO.WS
| $12.3K | ﹤0.01% |
+33,333
| New | +$14.4K |
2026 Q3
0 quarters
|
|
|
NSAIW
328
NorthStrive Acquisition Corp I. Warrants
NSAIW
| $11.7K | ﹤0.01% |
+275,000
| New | +$13.5K |
2026 Q3
0 quarters
|
|
329
Wintergreen Acquisition Corp Rights
WTGUR
| $11.5K | ﹤0.01% |
100,000
| – | – |
2025 Q3
4 quarters
|
|
330
Siddhi Acquisition Corp Right
SDHIR
| $11.2K | ﹤0.01% |
100,000
| – | – |
2025 Q2
5 quarters
|
|
331
Einride AB Warrants
ENRDW
$1.24M
| $11.1K | ﹤0.01% |
50,000
| – | – |
2026 Q2
1 quarter
|
|
332
Texas Ventures Acquisition III Corp Warrants
TVACW
$2.14M
| $11K | ﹤0.01% |
50,000
| – | – |
2025 Q2
5 quarters
|
|
333
Miluna Acquisition Corp Warrant
MMTXW
| $10K | ﹤0.01% |
100,000
| – | – |
2025 Q4
3 quarters
|
|
334
Charlton Aria Acquisition Corp Rights
CHARR
| $10K | ﹤0.01% |
100,000
| – | – |
2024 Q4
7 quarters
|
|
335
Crown Reserve Acquisition Corp I Warrant
CRACW
$130K
| $10K | ﹤0.01% |
250,000
| – | – |
2025 Q4
3 quarters
|
|
336
ProCap Acquisition Corp Warrant
PCAPW
$1.62M
| $9.7K | ﹤0.01% |
33,333
| – | – |
2025 Q3
4 quarters
|
|
337
Pioneer Acquisition I Corp Warrants
PACHW
$1.26M
| $9.6K | ﹤0.01% |
75,000
| – | – |
2025 Q3
4 quarters
|
|
338
Instinct Bio Technical Company Holdings Warrants
BIOTW
| $9.6K | ﹤0.01% |
+637,213
| New | +$12.9K |
2026 Q3
0 quarters
|
|
|
OCLTW
339
OceanLight Acquisition Corporation Warrants
OCLTW
| $9.44K | ﹤0.01% |
+290,000
| New | +$12.3K |
2026 Q3
0 quarters
|
|
340
Lafayette Digital Acquisition Corp I Warrant
ZKPW
$1.04M
| $9.38K | ﹤0.01% |
37,500
| – | – |
2026 Q1
2 quarters
|
|
341
Launch Two Acquisition Corp Warrant
LPBBW
$1.04M
| $8.21K | ﹤0.01% |
62,500
| – | – |
2024 Q4
7 quarters
|
|
342
Activate Energy Acquisition Corp Warrant
AEAQW
| $7.62K | ﹤0.01% |
25,000
| – | – |
2026 Q1
2 quarters
|
|
343
Blue Water Acquisition Corp III Warrant
BLUWW
$1.05M
| $7.61K | ﹤0.01% |
25,000
| – | – |
2025 Q3
4 quarters
|
|
344
Lifezone Metals Ltd Warrants
LZM.WS
| $7.28K | ﹤0.01% |
23,500
| – | – |
2025 Q4
3 quarters
|
|
345
New Providence Acquisition Corp III Warrants
NPACW
| $7.13K | ﹤0.01% |
33,333
| – | – |
2025 Q2
5 quarters
|
|
346
Yorkville Acquisition Corp Warrant
MCGAW
$1.29M
| $7.12K | ﹤0.01% |
25,000
| – | – |
2025 Q3
4 quarters
|
|
347
Tevogen Inc Warrant
TVGNW
$737K
| $6.76K | ﹤0.01% |
97,250
| – | – |
2022 Q1
18 quarters
|
|
348
Chenghe Acquisition III Co Warrants
CHECW
$294K
| $6.12K | ﹤0.01% |
68,075
| – | – |
2025 Q4
3 quarters
|
|
349
LightWave Acquisition Corp Warrants
LWACW
| $6.1K | ﹤0.01% |
50,000
| – | – |
2025 Q3
4 quarters
|
|
350
Veraxa Biotech AG Warrants
VRXAW
$321K
| $6.01K | ﹤0.01% |
100,000
| – | – |
2026 Q2
1 quarter
|
|
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.