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HCM

Heights Capital Management Portfolio holdings

AUM $359M
1-Year Est. Return 8.03%
This Fund
S&P 500
This Quarter Est. Return
+26.64%
1 Year Est. Return
+8.03%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$375M
AUM Growth
+$162M
Cap. Flow
+$107M
Cap. Flow %
28.52%
Top 10 Hldgs %
61.02%
Holding
226
New
98
Increased
1
Reduced
32
Closed
64

Top Buys

Rank Stock Value
1
ACHR icon
Archer Aviation
ACHR
+$21.6M
2
NNE
Nano Nuclear Energy
NNE
+$10.3M
3
ALVO icon
Alvotech
ALVO
+$10.2M
4
NA
Nano Labs
NA
+$8.75M
5
AMSC icon
American Superconductor
AMSC
+$8.36M

Top Sells

Rank Stock Value
1
PLUG icon
Plug Power
PLUG
+$31.2M
2
FGMCU
FG Merger II Corp Unit
FGMCU
+$7.71M
3
JACS.U
Jackson Acquisition Co II Units
JACS.U
+$7.2M
4
HUMA icon
Humacyte
HUMA
+$6.86M
5
DMAAU
Drugs Made In America Acquisition Corp Units
DMAAU
+$6.58M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 22.43%
2 Financials 20.35%
3 Industrials 14.4%
4 Healthcare 9.48%
5 Technology 5.76%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WTGUU
51
Wintergreen Acquisition Corp Unit
WTGUU
$1.01M 0.27%
+100,000
New +$1M
FIGXU
52
FIGX Capital Acquisition Corp Units
FIGXU
$146M
$1M 0.27%
+100,000
New +$1M
PACHU
53
Pioneer Acquisition I Corp Units
PACHU
$1M 0.27%
+100,000
New +$1M
FTW
54
Presidio Production Co
FTW
$339M
$983K 0.26%
93,574
– –
DYCQ
55
DELISTED
DT Cloud Acquisition Corp
DYCQ
$980K 0.26%
90,200
– –
ALLT icon
56
Allot
ALLT
$372M
$855K 0.23%
+100,000
New +$719K
SNTI icon
57
Senti Biosciences Holdings
SNTI
$11.2M
$805K 0.21%
381,384
-368,616
-49% -$1.17M
PMTRU
58
Perimeter Acquisition Corp I Unit
PMTRU
$195M
$747K 0.2%
+71,307
New +$734K
DRDB
59
Roman DBDR Acquisition Corp II
DRDB
$326M
$734K 0.2%
+71,175
New +$725K
RVPH
60
DELISTED
REVIVA PHARMA HLDGS INC
RVPH
$697K 0.19%
+91,495
New +$1.42M
TAVI
61
Tavia Acquisition Corp
TAVI
$170M
$668K 0.18%
+65,000
New +$659K
PGAC
62
Pantages Capital Acquisition Corp
PGAC
$662K 0.18%
+65,000
New +$656K
GSRT
63
DELISTED
GSR III Acquisition Corp
GSRT
$657K 0.18%
+60,900
New +$635K
FACT
64
FACT II Acquisition Corp
FACT
$260M
$620K 0.17%
+60,000
New +$608K
ASPC
65
A SPAC III Acquisition Corp
ASPC
$24.9M
$612K 0.16%
+60,000
New +$609K
HVII
66
Hennessy Capital Investment Corp VII
HVII
$274M
$610K 0.16%
+60,000
New +$601K
VCIC
67
DELISTED
Vine Hill Capital Investment Corp
VCIC
$581K 0.16%
55,790
– –
BCTXZ
68
BriaCell Therapeutics Corp Warrant
BCTXZ
$202K
$574K 0.15%
+552,081
New +$596K
NETD
69
DELISTED
Nabors Energy Transition Corp II
NETD
$546K 0.15%
49,195
-600
-1% -$6.62K
IPCXU
70
Inflection Point Acquisition Corp III Units
IPCXU
$117M
$526K 0.14%
+50,000
New +$515K
CHACU
71
DELISTED
Crane Harbor Acquistion Corp Units
CHACU
$524K 0.14%
+50,000
New +$507K
RANG
72
Range Capital Acquisition Corp
RANG
$23.2M
$514K 0.14%
+50,000
New +$507K
PELIU
73
DELISTED
Pelican Acquisition Corp Unit
PELIU
$508K 0.14%
+50,000
New +$504K
NPAC
74
New Providence Acquisition Corp III
NPAC
$400M
$508K 0.14%
+50,000
New +$517K
OYSEU
75
Oyster Enterprises II Acquisition Corp Units
OYSEU
$220M
$506K 0.14%
+50,000
New +$504K
1 2
3
4 5

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Heights Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, Heights Capital Management held 226 positions worth $375M, up 76% from $213M the previous quarter. Its ten largest holdings account for 61% of the portfolio.

Heights Capital Management deployed $107M of net new capital in Q2 2025, opening 98 new positions and adding to 1 existing holding. Its largest new stake was Archer Aviation: 2,312,285 shares worth $25.1M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 22% of assets, down from 32% a quarter earlier, followed by Financials and Industrials.

On the sell side, the largest reduction was Senti Biosciences Holdings, an estimated $1.17M trimmed.

  • Heights Capital Management's largest Q2 2025 buy was Archer Aviation: 2,312,285 shares worth $25.1M.
  • Heights Capital Management's biggest Q2 2025 reduction was Senti Biosciences Holdings, cutting an estimated $1.17M.
  • Heights Capital Management fully exited Plug Power in Q2 2025, selling an estimated $31.2M.
  • Heights Capital Management's ten largest holdings make up 61% of its $375M portfolio in Q2 2025.
  • Heights Capital Management opened 98 new positions and closed 64 in Q2 2025.
  • Heights Capital Management's portfolio value rose 76% quarter-over-quarter to $375M.

Based on Heights Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.