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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
MKDWW
151
MKDWELL Tech Inc Warrants
MKDWW
$2.64K ﹤0.01%
175,000
– –
DAICW
152
CID HoldCo Inc Warrants
DAICW
$40.8K
$2K ﹤0.01%
25,000
– –
AMBI.WS
153
DELISTED
Ambipar Emergency Response Warrants
AMBI.WS
$641 ﹤0.01%
130,905
– –
GCLWW
154
GCL Global Holdings Warrants
GCLWW
$135 ﹤0.01%
4,500
– –
IAUX
155
i-80 Gold Corp
IAUX
$1.51B
$123 ﹤0.01%
+84
New +$95
LIMNW
156
Liminatus Pharma Warrants
LIMNW
$517K
$44 ﹤0.01%
1,250
– –
LSBPW
157
DELISTED
LakeShore Biopharma Warrants
LSBPW
$35 ﹤0.01%
5,000
– –
BNC
158
CEA Industries
BNC
$98.4M
– –
-23,763
Closed -$185K
VRNA
159
DELISTED
Verona Pharma
VRNA
– –
-73,890
Closed -$7.88M
WALDW icon
160
Waldencast PLC Warrant
WALDW
$4.16M
– –
-666
Closed -$25
DYCQR
161
DELISTED
DT Cloud Acquisition Corp Right
DYCQR
$0 ﹤0.01%
150,000
– –
SHMDW
162
SCHMID Group N.V. Warrants
SHMDW
– –
-46,200
Closed -$12.6K
SHMD
163
SCHMID Group
SHMD
$347M
– –
-2,505
Closed -$7.08K
RFAIU
164
RF Acquisition Corp II Unit
RFAIU
$115M
– –
-200,000
Closed -$2.14M
COLAU
165
Columbus Acquisition Corp Unit
COLAU
– –
-300,000
Closed -$3.1M
MLAC
166
DELISTED
Mountain Lake Acquisition Corp
MLAC
– –
-700,000
Closed -$7.21M
LOKVU
167
DELISTED
Live Oak Acquisition Corp V Units
LOKVU
– –
-402,960
Closed -$4.19M
IPEXR
168
Inflection Point Acquisition Corp V Rights
IPEXR
– –
-100,000
Closed -$60K
RIBB
169
Ribbon Acquisition Corp
RIBB
– –
-250,000
Closed -$2.56M
LOKVW
170
DELISTED
Live Oak Acquisition Corp V Warrants
LOKVW
– –
-100,000
Closed -$55K
CGCTU
171
DELISTED
Cartesian Growth Corp III Unit
CGCTU
– –
-800,000
Closed -$8.14M
PMTRU
172
Perimeter Acquisition Corp I Unit
PMTRU
$200M
– –
-388,400
Closed -$4M
JENA.U
173
Jena Acquisition Corp II Units
JENA.U
– –
-700,000
Closed -$7.29M
BACCU
174
Blue Acquisition Corp Unit
BACCU
– –
-250,000
Closed -$2.52M
GTEN
175
Gores Holdings X
GTEN
$482M
– –
-100,000
Closed -$1.02M
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.