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FBCM
Fort Baker Capital Management Portfolio holdings
AUM
$1.37B
1-Year Est. Return
26.91%
This Fund
S&P 500
This Quarter
Est. Return
+5.21%
1 Year Est. Return
+26.91%
3 Year Est. Return
+46.25%
5 Year Est. Return
+85.98%
10 Year Est. Return
–
AUM
$1.37B
AUM Growth
+$93.5M
(+7.3%)
Cap. Flow
-$83.1M
Cap. Flow
% of AUM
-6.08%
Top 10 Holdings %
Top 10 Hldgs %
46.37%
Holding
155
New
34
Increased
23
Reduced
10
Closed
34
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Norfolk Southern
NSC
|
+$43.1M |
| 2 |
LBRDK
Liberty Broadband Class C
LBRDK
|
+$28.4M |
| 3 |
CXII
Churchill Capital Corp XII
CXII
|
+$20.6M |
| 4 |
TMTS
Spartacus Acquisition Corp II
TMTS
|
+$19.7M |
| 5 |
SAAQ
Space Asset Acquisition Corp
SAAQ
|
+$15.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
MASI
Masimo
MASI
|
+$55.6M |
| 2 |
TERN
Terns Pharmaceuticals
TERN
|
+$43.3M |
| 3 |
Core Scientific Inc Tranche 1 Warrants
CORZW
|
+$27.8M |
| 4 |
FAC
Factorial Energy Inc
FAC
|
+$27.7M |
| 5 |
CWAN
Clearwater Analytics
CWAN
|
+$23M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 35.23% |
| 2 | Miscellaneous | 28.15% |
| 3 | Communication Services | 18.78% |
| 4 | Industrials | 7.33% |
| 5 | Utilities | 6.8% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Warner Bros
WBD
$72.1B
| $118M | 8.67% |
4,444,353
+424,048
| +11% | +$11.5M |
|
|
2
Norfolk Southern
NSC
$78.3B
| $98.9M | 7.23% |
314,269
+139,686
| +80% | +$43.1M |
|
|
EA
3
DELISTED
Electronic Arts
EA
| $79.8M | 5.83% |
388,986
-6,172
| -2% | -$1.25M |
|
4
AES
AES
$10.5B
| $70.2M | 5.13% |
4,787,083
+368,321
| +8% | +$5.35M |
|
|
5
PUT
Warner Bros
WBD
$72.1B
| $64.3M | 4.7% |
2,412,500
-273,400
| -10% | -$7.4M |
|
|
LBRDK
6
DELISTED
Liberty Broadband Class C
LBRDK
| $52.1M | 3.81% |
1,565,549
+728,347
| +87% | +$28.4M |
|
|
BCSS
7
Bain Capital GSS Investment Corp
BCSS
$600M
| $43.6M | 3.19% |
4,248,685
+267,433
| +7% | +$2.72M |
|
8
PUT
Invesco QQQ Trust
QQQ
$489B
| $36.8M | 2.69% |
+50,000
| New | +$34.4M |
|
|
CCXI
9
Churchill Capital Corp XI
CCXI
$778M
| $35M | 2.56% |
2,003,697
-516,151
| -20% | -$5.5M |
|
|
GTEN
10
Gores Holdings X
GTEN
$481M
| $34.9M | 2.55% |
3,346,482
+1,031,292
| +45% | +$10.7M |
|
|
CCIX
11
DELISTED
Churchill Capital Corp IX
CCIX
| $31.3M | 2.29% |
2,873,655
+1,417,766
| +97% | +$15.3M |
|
|
CCII
12
Cohen Circle Acquisition Corp II
CCII
$358M
| $26.2M | 1.92% |
2,546,827
+891,467
| +54% | +$9.15M |
|
|
CRANU
13
Crane Harbor Acquisition Corp II Units
CRANU
| $25.7M | 1.88% |
2,538,361
+1,210,779
| +91% | +$12.3M |
|
14
NorthWestern Energy
NWE
$4.33B
| $22.8M | 1.67% |
318,094
+5,067
| +2% | +$359K |
|
|
BBCQ
15
Bleichroeder Acquisition Corp II
BBCQ
$375M
| $21.5M | 1.57% |
2,082,058
+823,568
| +65% | +$8.53M |
|
|
CXII
16
Churchill Capital Corp XII
CXII
$602M
| $21.3M | 1.56% |
+2,000,000
| New | +$20.6M |
|
|
RAC
17
Rithm Acquisition Corp
RAC
$310M
| $20.4M | 1.49% |
1,950,405
+1,500,000
| +333% | +$15.6M |
|
|
TMTS
18
Spartacus Acquisition Corp II
TMTS
$309M
| $19.7M | 1.44% |
+1,970,838
| New | +$19.7M |
|
|
SAAQ
19
Space Asset Acquisition Corp
SAAQ
$317M
| $19.2M | 1.4% |
1,879,820
+1,528,620
| +435% | +$15.7M |
|
|
PMTR
20
Perimeter Acquisition Corp I
PMTR
$321M
| $16.4M | 1.2% |
1,573,684
| – | – |
|
|
ANSC
21
DELISTED
Agriculture & Natural Solutions Acquisition Corp
ANSC
| $15.8M | 1.15% |
1,379,630
-500,000
| -27% | -$5.67M |
|
|
KBON
22
Karbon Capital Partners Corp
KBON
$445M
| $15.1M | 1.11% |
1,499,756
| – | – |
|
|
ATII
23
Archimedes Tech SPAC Partners II Co
ATII
$316M
| $14.3M | 1.05% |
+1,330,746
| New | +$14.5M |
|
|
VACI
24
Viking Acquisition Corp I
VACI
$320M
| $14M | 1.02% |
+1,365,503
| New | +$13.9M |
|
|
TONT
25
Graf Global Corp
TONT
$154M
| $13.6M | 1% |
1,256,015
-240,504
| -16% | -$2.6M |
|
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Fort Baker Capital Management's Q2 2026 Portfolio in Review
As of Q2 2026, Fort Baker Capital Management held 155 positions worth $1.37B, up 7.3% from $1.27B the previous quarter. Its ten largest holdings account for 46% of the portfolio.
Fort Baker Capital Management withdrew a net $83.1M in Q2 2026, closing 34 positions and reducing 10 holdings. Its most notable exit was Masimo, an estimated $55.6M position sold in full.
By sector, the portfolio is most concentrated in Financials at 35% of assets, up from 28% a quarter earlier, followed by Miscellaneous and Communication Services.
Against the trend, Fort Baker Capital Management opened a new position in Churchill Capital Corp XII worth $21.3M.
- Fort Baker Capital Management's largest Q2 2026 buy was Churchill Capital Corp XII: 2,000,000 shares worth $21.3M.
- Fort Baker Capital Management added most to Norfolk Southern in Q2 2026, an estimated $43.1M increase.
- Fort Baker Capital Management's biggest Q2 2026 reduction was Core Scientific Inc Tranche 1 Warrants, cutting an estimated $27.8M.
- Fort Baker Capital Management fully exited Masimo in Q2 2026, selling an estimated $55.6M.
- Fort Baker Capital Management's ten largest holdings make up 46% of its $1.37B portfolio in Q2 2026.
- Fort Baker Capital Management opened 34 new positions and closed 34 in Q2 2026.
- Fort Baker Capital Management's portfolio value rose 7.3% quarter-over-quarter to $1.37B.
Based on Fort Baker Capital Management's 13F filing for Q2 2026, filed 14 Aug 2026.