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HIM

HGC Investment Management Portfolio holdings

AUM $451M
1-Year Est. Return 8.76%
This Fund
S&P 500
This Quarter Est. Return
+2.83%
1 Year Est. Return
+8.76%
3 Year Est. Return
+34.17%
5 Year Est. Return
+41.5%
10 Year Est. Return
–
AUM
$472M
AUM Growth
+$61.2M
Cap. Flow
+$59.5M
Cap. Flow %
12.61%
Top 10 Hldgs %
26.73%
Holding
185
New
61
Increased
4
Reduced
20
Closed
23

Top Buys

Rank Stock Value
1
DMII
Drugs Made In America Acquisition II Corp
DMII
+$12.2M
2
SBXE.U
SilverBox Corp V Units
SBXE.U
+$9.07M
3
PAII
Pyrophyte Acquisition Corp II
PAII
+$8.55M
4
ITHAU
ITHAX Acquisition Corp III Units
ITHAU
+$7.97M
5
LPCVU
Launchpad Cadenza Acquisition Corp I Unit
LPCVU
+$7.49M

Top Sells

Rank Stock Value
1
DMIIU
Drugs Made In America Acquisition II Corp Unit
DMIIU
+$11.9M
2
PAII.U
Pyrophyte Acquisition Corp II Units
PAII.U
+$8.61M
3
CGCTU
Cartesian Growth Corp III Unit
CGCTU
+$8.14M
4
VRNA
Verona Pharma
VRNA
+$7.88M
5
AEXA
American Exceptionalism Acquisition Corp
AEXA
+$7.75M

Sector Composition

Rank Sector Weight
1 Financials 37.95%
2 Technology 2.96%
3 Healthcare 1.72%
4 Communication Services 1.64%
5 Industrials 1.59%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
JACS.RT
101
Jackson Acquisition Co II Rights
JACS.RT
$356K 0.08%
1,425,700
-50,000
-3% -$13.7K
SDHIR
102
Siddhi Acquisition Corp Right
SDHIR
$313K 0.07%
1,250,000
– –
LOKV
103
DELISTED
Live Oak Acquisition Corp V
LOKV
$288K 0.06%
27,960
-422,040
-94% -$4.33M
SIMA
104
SIM Acquisition Corp I
SIMA
$265K 0.06%
25,000
– –
DSACU
105
Daedalus Special Acquisition Corp Unit
DSACU
$251K 0.05%
+25,000
New +$251K
FACWW
106
Factorial Energy Inc Warrant
FACWW
$9M
$237K 0.05%
+300,000
New +$115K
PAII.WS
107
Pyrophyte Acquisition Corp II Warrants
PAII.WS
$179K 0.04%
+425,000
New +$170K
GSRFR
108
GSR IV Acquisition Corp Rights
GSRFR
$179K 0.04%
+75,000
New +$185K
IPCXR
109
Inflection Point Acquisition Corp III Rights
IPCXR
$176K 0.04%
465,000
-450,000
-49% -$189K
DMIIR
110
Drugs Made In America Acquisition II Corp Right
DMIIR
$172K 0.04%
+1,230,980
New +$176K
ANSCW
111
Agriculture & Natural Solutions Acquisition Corp Warrant
ANSCW
$109K
$161K 0.03%
503,500
– –
PMTRW
112
Perimeter Acquisition Corp I Warrant
PMTRW
$11M
$137K 0.03%
+194,200
New +$162K
HCMAW
113
HCM III Acquisition Corp Warrants
HCMAW
$133K 0.03%
266,666
+33,333
+14% +$22.8K
JENA.RT
114
Jena Acquisition Corp II Rights
JENA.RT
$126K 0.03%
+700,000
New +$158K
APADR
115
DELISTED
A Paradise Acquisition Corp Rights
APADR
$119K 0.03%
475,000
+75,000
+19% +$17.2K
AEXA
116
American Exceptionalism Acquisition Corp
AEXA
$577M
$114K 0.02%
10,000
-690,000
-99% -$7.75M
SZZLR
117
Sizzle Acquisition Corp II Right
SZZLR
$104K 0.02%
650,539
– –
COLAR
118
Columbus Acquisition Corp Rights
COLAR
$101K 0.02%
+300,000
New +$88.7K
TVACW
119
Texas Ventures Acquisition III Corp Warrants
TVACW
$90K 0.02%
100,000
– –
NPACW
120
New Providence Acquisition Corp III Warrants
NPACW
$2.3M
$75.8K 0.02%
150,000
– –
CRACR
121
Crown Reserve Acquisition Corp I Rights
CRACR
$71.3K 0.02%
+375,000
New +$71.4K
SOUL.RT
122
Soulpower Acquisition Corp Rights
SOUL.RT
$70.6K 0.02%
403,161
-900,000
-69% -$177K
WENNW
123
Wen Acquisition Corp Warrant
WENNW
$69.8K 0.01%
225,000
– –
TACOW
124
Berto Acquisition Corp Warrant
TACOW
$16.5M
$64.8K 0.01%
175,000
– –
QUMSR
125
Quantumsphere Acquisition Corp Rights
QUMSR
$63K 0.01%
+300,000
New +$78.2K
3 4
5
6 7

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SIM
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MC
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POEH
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MCM
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AIS
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EGP
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HGC Investment Management's Q4 2025 Portfolio in Review

As of Q4 2025, HGC Investment Management held 185 positions worth $472M, up 15% from $411M the previous quarter. Its ten largest holdings account for 27% of the portfolio.

HGC Investment Management deployed $59.5M of net new capital in Q4 2025, opening 61 new positions and adding to 4 existing holdings. Its largest new stake was Drugs Made In America Acquisition II Corp: 1,230,980 shares worth $12.2M.

By sector, the portfolio is most concentrated in Financials at 38% of assets, down from 43% a quarter earlier, followed by Technology and Healthcare.

On the sell side, the largest reduction was American Exceptionalism Acquisition Corp, an estimated $7.75M trimmed.

  • HGC Investment Management's largest Q4 2025 buy was Drugs Made In America Acquisition II Corp: 1,230,980 shares worth $12.2M.
  • HGC Investment Management added most to CyberArk in Q4 2025, an estimated $3.79M increase.
  • HGC Investment Management's biggest Q4 2025 reduction was American Exceptionalism Acquisition Corp, cutting an estimated $7.75M.
  • HGC Investment Management fully exited Drugs Made In America Acquisition II Corp Unit in Q4 2025, selling an estimated $11.9M.
  • HGC Investment Management's ten largest holdings make up 27% of its $472M portfolio in Q4 2025.
  • HGC Investment Management opened 61 new positions and closed 23 in Q4 2025.
  • HGC Investment Management's portfolio value rose 15% quarter-over-quarter to $472M.

Based on HGC Investment Management's 13F filing for Q4 2025, filed 17 Feb 2026.