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HCM

Heights Capital Management Portfolio holdings

AUM $359M
1-Year Est. Return 7.93%
This Fund
S&P 500
This Quarter Est. Return
-14.4%
1 Year Est. Return
+7.93%
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 16.24%
3 Industrials 14.76%
4 Healthcare 6%
5 Technology 2.26%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FLUT icon
1
Flutter Entertainment
FLUT
$17.7B
$65.2M 30.6%
294,180
– –
PLUG icon
2
Plug Power
PLUG
$2.92B
$31.2M 14.64%
+23,091,715
New +$43.9M
FGMCU
3
DELISTED
FG Merger II Corp Unit
FGMCU
$7.71M 3.62%
+790,000
New +$7.74M
JACS.U
4
Jackson Acquisition Co II Units
JACS.U
$7.2M 3.38%
700,000
– –
HUMA icon
5
Humacyte
HUMA
$181M
$6.86M 3.22%
+4,025,000
New +$15.1M
DMAAU
6
Drugs Made In America Acquisition Corp Units
DMAAU
$6.58M 3.09%
+650,000
New +$6.56M
ONDS icon
7
Ondas Inc
ONDS
$4.32B
$4.81M 2.26%
4,494,501
-316,853
-7% -$475K
GPAT
8
GP-Act III Acquisition Corp
GPAT
$392M
$4.75M 2.23%
460,000
– –
NNE
9
PUT
Nano Nuclear Energy
NNE
$896M
$3.96M 1.86%
149,700
+116,600
+352% +$3.56M
FERAU
10
Fifth Era Acquisition Corp I Units
FERAU
$3.52M 1.65%
+350,000
New +$3.51M
FVN
11
Future Vision II Acquisition Corp
FVN
$70.4M
$3.31M 1.55%
325,000
– –
FSHP
12
Flag Ship Acquisition Corp
FSHP
$3.25M 1.53%
314,000
– –
CEP
13
DELISTED
Cantor Equity Partners
CEP
$3.22M 1.51%
300,000
– –
IBAC
14
IB Acquisition Corp
IBAC
$54.1M
$2.58M 1.21%
250,000
– –
VACH
15
DELISTED
Voyager Acquisition Corp
VACH
$2.54M 1.19%
250,000
– –
PLMKU
16
Plum Acquisition Corp IV Unit
PLMKU
$2.52M 1.19%
+250,000
New +$2.52M
SNTI icon
17
Senti Biosciences Holdings
SNTI
$11.2M
$2.52M 1.18%
+750,000
New +$2.92M
REE
18
DELISTED
REE Automotive
REE
$2.39M 1.12%
+899,917
New +$6.46M
HYAC
19
DELISTED
Haymaker Acquisition Corp 4
HYAC
$2.14M 1.01%
195,077
– –
RIBBU
20
Ribbon Acquisition Corp Unit
RIBBU
$56.2M
$2.06M 0.97%
+200,000
New +$2.02M
COLAU
21
Columbus Acquisition Corp Unit
COLAU
$2.03M 0.95%
+200,000
New +$2.02M
ALGS icon
22
Aligos Therapeutics
ALGS
$26.7M
$1.99M 0.94%
+241,500
New +$5.29M
UYSCU
23
UY Scuti Acquisition Corp Units
UYSCU
$1.76M 0.83%
+175,000
New +$1.76M
UCFI
24
CN Healthy Food Tech Group
UCFI
$1.73M 0.81%
165,043
– –
CAPN
25
Cayson Acquisition Corp
CAPN
$58.7M
$1.53M 0.72%
150,000
– –
1
2 3 4 5

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RIP
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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.