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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
RIBBR
126
Ribbon Acquisition Corp Rights
RIBBR
$60K 0.01%
250,000
– –
BLUWW
127
Blue Water Acquisition Corp III Warrant
BLUWW
$53K 0.01%
100,000
– –
YHNAR
128
YHN Acquisition I Ltd Right
YHNAR
$52.7K 0.01%
344,188
– –
PGACR
129
Pantages Capital Acquisition Corp Right
PGACR
$50K 0.01%
250,000
-250,000
-50% -$66.7K
BACCR
130
Blue Acquisition Corp Right
BACCR
$48.6K 0.01%
+150,000
New +$40K
GTENW
131
Gores Holdings X Warrants
GTENW
$7.18M
$46.5K 0.01%
50,000
– –
TVA
132
Texas Ventures Acquisition III Corp
TVA
$315M
$41.8K 0.01%
3,925
-196,075
-98% -$2.13M
UYSCR
133
UY Scuti Acquisition Corp Rights
UYSCR
$40.4K 0.01%
150,000
– –
MCGA
134
Yorkville Acquisition Corp
MCGA
$243M
$39K 0.01%
3,852
-21,148
-85% -$218K
TACHW
135
Titan Acquisition Corp Warrants
TACHW
$31.5K 0.01%
+100,000
New +$35K
OAKUR
136
DELISTED
Oak Woods Acquisition Corp Right
OAKUR
$30K 0.01%
120,000
– –
BAYAR
137
DELISTED
Bayview Acquisition Corp Right
BAYAR
$29.6K 0.01%
150,000
– –
RFAIR
138
RF Acquisition Corp II Right
RFAIR
$24K 0.01%
+200,000
New +$29.1K
CRAQR
139
Cal Redwood Acquisition Corp Right
CRAQR
$21.7K ﹤0.01%
66,869
– –
MACIW
140
Melar Acquisition Corp I Warrant
MACIW
$21.1K ﹤0.01%
150,528
– –
ATMCW
141
DELISTED
AlphaTime Acquisition Corp Warrant
ATMCW
$18.1K ﹤0.01%
300,000
– –
CRACW
142
Crown Reserve Acquisition Corp I Warrant
CRACW
$15.9K ﹤0.01%
+187,500
New +$16.8K
ISRLW
143
DELISTED
Israel Acquisitions Corp Warrant
ISRLW
$13.4K ﹤0.01%
100,800
– –
BKHAR
144
Black Hawk Acquisition Corp Rights
BKHAR
$13K ﹤0.01%
10,000
– –
FUFUW icon
145
BitFuFu Inc Warrant
FUFUW
$10K ﹤0.01%
50,000
– –
MLACR
146
DELISTED
Mountain Lake Acquisition Corp Right
MLACR
$9.6K ﹤0.01%
40,000
-660,000
-94% -$259K
FSHPR
147
Flag Ship Acquisition Corp Right
FSHPR
$5.4K ﹤0.01%
27,000
– –
OAKUW
148
DELISTED
Oak Woods Acquisition Corp Warrant
OAKUW
$4.7K ﹤0.01%
120,000
– –
FORLW
149
DELISTED
Four Leaf Acquisition Corp Warrants
FORLW
$4.4K ﹤0.01%
110,000
– –
MCGAW
150
Yorkville Acquisition Corp Warrant
MCGAW
$1.82M
$4.17K ﹤0.01%
8,333
– –
4 5
6
7 8

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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.