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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
-14.42%
1 Year Est. Return
+8.03%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$213M
AUM Growth
+$10.8M
Cap. Flow
+$39.6M
Cap. Flow %
18.6%
Top 10 Hldgs %
69.02%
Holding
165
New
19
Increased
1
Reduced
17
Closed
36

Top Buys

Rank Stock Value
1
PLUG icon
Plug Power
PLUG
+$43.9M
2
HUMA icon
Humacyte
HUMA
+$15.1M
3
FGMCU
FG Merger II Corp Unit
FGMCU
+$7.74M
4
DMAAU
Drugs Made In America Acquisition Corp Units
DMAAU
+$6.56M
5
REE
REE Automotive
REE
+$6.46M

Top Sells

Rank Stock Value
1
NNE
Nano Nuclear Energy
NNE
+$25.5M
2
LB
LandBridge Co
LB
+$10.8M
3
PSQH icon
PSQ Holdings
PSQH
+$5.84M
4
SIDU icon
Sidus Space
SIDU
+$2.37M
5
NVNI
Nvni Group
NVNI
+$1.29M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 31.72%
2 Financials 15.76%
3 Industrials 14.76%
4 Healthcare 6%
5 Technology 2.26%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BNZIW icon
126
Banzai International Warrant
BNZIW
– –
-11,072
Closed -$132
BUJA
127
DELISTED
Bukit Jalil Global Acquisition 1
BUJA
– –
-100,000
Closed -$1.1M
CADL icon
128
Candel Therapeutics
CADL
$776M
– –
-30,000
Closed -$260K
CRGX
129
DELISTED
CARGO Therapeutics
CRGX
– –
-52,245
Closed -$753K
KVACW
130
DELISTED
Keen Vision Acquisition Corp Warrant
KVACW
– –
-28,059
Closed -$1.33K
MRM
131
MEDIROM Healthcare Technologies
MRM
$7.59M
– –
-35,582
Closed -$37.4K
MVIS icon
132
PUT
Microvision
MVIS
$78.9M
– –
-5,333
Closed -$105K
NVNI
133
Nvni Group
NVNI
$12.3M
– –
-52,586
Closed -$1.29M
OAKU
134
DELISTED
Oak Woods Acquisition Corp
OAKU
– –
-90,000
Closed -$1.02M
PESI icon
135
Perma-Fix Environmental Services
PESI
$383M
– –
-20,000
Closed -$221K
PSQH icon
136
PSQ Holdings
PSQH
$14.7M
– –
-85,694
Closed -$5.84M
RTB
137
RTB Digital
RTB
$232M
– –
-3,429
Closed -$156K
SIDU icon
138
Sidus Space
SIDU
$229M
– –
-483,000
Closed -$2.37M
VRCA icon
139
Verrica Pharmaceuticals
VRCA
$87.3M
– –
-35,114
Closed -$246K
DHAIW
140
DELISTED
DIH Holding US Inc Warrants
DHAIW
– –
-99,349
Closed -$5.39K
NNE
141
Nano Nuclear Energy
NNE
$1.01B
– –
-833,334
Closed -$25.5M
LB
142
LandBridge Co
LB
$2.1B
– –
-166,583
Closed -$10.8M
CGBSW
143
DELISTED
Crown LNG Holdings Limited Warrants
CGBSW
– –
-136,232
Closed -$4.24K
IMSR
144
Terrestrial Energy
IMSR
$617M
– –
-80,000
Closed -$802K
IMSRW
145
Terrestrial Energy Warrant
IMSRW
$29M
– –
-18,868
Closed -$2.26K
AIMAW
146
DELISTED
Aimfinity Investment Corp I Warrant
AIMAW
– –
-21,000
Closed -$147
GDST
147
DELISTED
Goldenstone Acquisition Limited Common Stock
GDST
– –
-109,890
Closed -$1.24M
GDSTW
148
DELISTED
Goldenstone Acquisition Limited Warrants
GDSTW
– –
-107,827
Closed -$4.64K
GDSTR
149
DELISTED
Goldenstone Acquisition Limited Rights
GDSTR
– –
-150,000
Closed -$19.5K
WINVR
150
DELISTED
WinVest Acquisition Corp. Right
WINVR
– –
-290,295
Closed -$25.7K
3 4 5
6
7

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Heights Capital Management's Q1 2025 Portfolio in Review

As of Q1 2025, Heights Capital Management held 165 positions worth $213M, up 5.3% from $202M the previous quarter. Its ten largest holdings account for 69% of the portfolio.

Heights Capital Management deployed $39.6M of net new capital in Q1 2025, opening 19 new positions and adding to 1 existing holding. Its largest new stake was Plug Power: 23,091,715 shares worth $31.2M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 32% of assets, down from 38% a quarter earlier, followed by Financials and Industrials.

On the sell side, the largest reduction was Ondas Inc, an estimated $475K trimmed.

  • Heights Capital Management's largest Q1 2025 buy was Plug Power: 23,091,715 shares worth $31.2M.
  • Heights Capital Management's biggest Q1 2025 reduction was Ondas Inc, cutting an estimated $475K.
  • Heights Capital Management fully exited Nano Nuclear Energy in Q1 2025, selling an estimated $25.5M.
  • Heights Capital Management's ten largest holdings make up 69% of its $213M portfolio in Q1 2025.
  • Heights Capital Management opened 19 new positions and closed 36 in Q1 2025.
  • Heights Capital Management's portfolio value rose 5.3% quarter-over-quarter to $213M.

Based on Heights Capital Management's 13F filing for Q1 2025, filed 14 May 2025.