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MCS

Mercuria Capital Strategies Portfolio holdings

AUM $163M
1-Year Est. Return 258.7%
This Fund
S&P 500
This Quarter Est. Return
+3.26%
1 Year Est. Return
+258.7%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$176M
AUM Growth
+$100M
Cap. Flow
+$125M
Cap. Flow %
71.05%
Top 10 Hldgs %
80.14%
Holding
35
New
25
Increased
–
Reduced
3
Closed
7

Top Buys

Rank Stock Value
1
TNK icon
Teekay Tankers
TNK
+$69M
2
BCSS
Bain Capital GSS Investment Corp
BCSS
+$15.6M
3
ALUB.U
Alussa Energy Acquisition Corp II Units
ALUB.U
+$10.1M
4
DMAA
Drugs Made In America Acquisition Corp
DMAA
+$7.74M
5
MRLN
Merlin Inc
MRLN
+$5.82M

Top Sells

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$25.3M
2
DK icon
Delek US
DK
+$8.75M
3
CMI icon
Cummins
CMI
+$6.86M
4
GNRC icon
Generac Holdings
GNRC
+$6.85M
5
PSIX
Power Solutions International
PSIX
+$4.57M

Sector Composition

Rank Sector Weight
1 Energy 43.66%
2 Financials 27.54%
3 Industrials 7.59%
4 Materials 4.34%
5 Technology 1.54%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DSX icon
26
Diana Shipping
DSX
$294M
$87.6K 0.05%
+52,770
New +$91.8K
GIWWR
27
GigCapital8 Rights
GIWWR
$19.4K 0.01%
+62,500
New +$23.2K
CCXIU
28
Churchill Capital Corp XI Units
CCXIU
$531M
$10.2K 0.01%
+1,000
New +$10.2K
CMI icon
29
Cummins
CMI
$87.1B
– –
-16,230
Closed -$6.86M
DK icon
30
Delek US
DK
$3.92B
– –
-271,290
Closed -$8.75M
FTEK icon
31
Fuel Tech
FTEK
$43.7M
– –
-240,000
Closed -$720K
GNRC icon
32
Generac Holdings
GNRC
$12.7B
– –
-40,934
Closed -$6.85M
SHLS icon
33
Shoals Technologies Group
SHLS
$1.47B
– –
-300,000
Closed -$2.22M
SPY icon
34
State Street SPDR S&P 500 ETF Trust
SPY
$807B
– –
-38,000
Closed -$25.3M
PSIX
35
Power Solutions International
PSIX
$972M
– –
-46,490
Closed -$4.57M
1
2

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Mercuria Capital Strategies's Q4 2025 Portfolio in Review

As of Q4 2025, Mercuria Capital Strategies held 35 positions worth $176M, up 132% from $75.9M the previous quarter. Its ten largest holdings account for 80% of the portfolio.

Mercuria Capital Strategies deployed $125M of net new capital in Q4 2025, opening 25 new positions. Its largest new stake was Teekay Tankers: 1,228,294 shares worth $65.6M.

By sector, the portfolio is most concentrated in Energy at 44% of assets, up from 30% a quarter earlier, followed by Financials and Industrials.

On the sell side, the largest reduction was Caterpillar, an estimated $2.82M trimmed.

  • Mercuria Capital Strategies's largest Q4 2025 buy was Teekay Tankers: 1,228,294 shares worth $65.6M.
  • Mercuria Capital Strategies's biggest Q4 2025 reduction was Caterpillar, cutting an estimated $2.82M.
  • Mercuria Capital Strategies fully exited State Street SPDR S&P 500 ETF Trust in Q4 2025, selling an estimated $25.3M.
  • Mercuria Capital Strategies's ten largest holdings make up 80% of its $176M portfolio in Q4 2025.
  • Mercuria Capital Strategies opened 25 new positions and closed 7 in Q4 2025.
  • Mercuria Capital Strategies's portfolio value rose 132% quarter-over-quarter to $176M.

Based on Mercuria Capital Strategies's 13F filing for Q4 2025, filed 11 Feb 2026.