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MMCAP International Portfolio holdings

AUM $1.18B
1-Year Est. Return 50.44%
This Fund
S&P 500
This Quarter Est. Return
+5.84%
1 Year Est. Return
+50.44%
3 Year Est. Return
+184.48%
5 Year Est. Return
+225.16%
10 Year Est. Return
–
AUM
$1.18B
AUM Growth
+$21.3M
Cap. Flow
+$16.1M
Cap. Flow %
1.36%
Top 10 Hldgs %
28.11%
Holding
364
New
120
Increased
9
Reduced
17
Closed
61

Top Buys

Rank Stock Value
1
CXII
Churchill Capital Corp XII
CXII
+$27.8M
2
CGCFU
Cartesian Growth Corporation IV Unit
CGCFU
+$23.5M
3
IPFX
Inflection Point Acquisition Corp VI
IPFX
+$20M
4
FTRA.U
FutureCorp Space Acquisition 1 Units
FTRA.U
+$17.8M
5
MZYX
MOZAYYX Acquisition Corp
MZYX
+$17.3M

Top Sells

Rank Stock Value
1
XNDU
Xanadu Quantum Technologies Class B
XNDU
+$48.1M
2
CCXIU
Churchill Capital Corp XI Units
CCXIU
+$27.7M
3
ARIS
Aris Mining
ARIS
+$17.7M
4
MZYX.U
MOZAYYX Acquisition Corp Units
MZYX.U
+$17.4M
5
IACOU
Idea Acquisition Corp Units
IACOU
+$17.3M

Sector Composition

Rank Sector Weight
1 Financials 56.97%
2 Materials 13.96%
3 Miscellaneous 11.74%
4 Consumer Discretionary 6.42%
5 Energy 3.25%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ARIS
1
Aris Mining
ARIS
$4.18B
$102M 8.63%
6,830,759
-984,383
-13% -$17.7M
ASTL icon
2
Algoma Steel
ASTL
$442M
$44.4M 3.76%
10,954,738
-1,890,884
-15% -$9.08M
CXII
3
Churchill Capital Corp XII
CXII
$602M
$28.8M 2.44%
+2,700,000
New +$27.8M
DMII
4
Drugs Made In America Acquisition II Corp
DMII
$646M
$27.2M 2.3%
2,700,000
– –
NXE icon
5
NexGen Energy
NXE
$6.97B
$25.3M 2.14%
2,694,352
+264,454
+11% +$3.01M
CGCFU
6
Cartesian Growth Corporation IV Unit
CGCFU
$249M
$23.5M 1.99%
+2,350,000
New +$23.5M
NPAC
7
New Providence Acquisition Corp III
NPAC
$401M
$22.8M 1.94%
2,200,000
– –
IPFX
8
Inflection Point Acquisition Corp VI
IPFX
$342M
$20M 1.69%
+1,931,762
New +$20M
FERA
9
Fifth Era Acquisition Corp I
FERA
$328M
$19.8M 1.68%
1,900,000
– –
TAC icon
10
TransAlta
TAC
$3.86B
$18.1M 1.54%
+1,310,100
New +$17.3M
FTRA.U
11
FutureCorp Space Acquisition 1 Units
FTRA.U
$17.7M 1.5%
+1,750,000
New +$17.8M
MZYX
12
MOZAYYX Acquisition Corp
MZYX
$374M
$17.4M 1.48%
+1,750,000
New +$17.3M
IACO
13
Idea Acquisition Corp
IACO
$437M
$17.3M 1.47%
+1,750,000
New +$17.3M
IPVVU
14
InterPrivate Investment Partners V Units
IPVVU
$179M
$16.9M 1.43%
+1,700,000
New +$16.9M
CCXI
15
Churchill Capital Corp XI
CCXI
$778M
$16.6M 1.41%
+950,474
New +$10.1M
CRDL
16
Cardiol Therapeutics
CRDL
$227M
$16.5M 1.4%
15,598,560
+246,243
+2% +$312K
RDAG
17
Republic Digital Acquisition Co
RDAG
$390M
$16.2M 1.37%
1,565,000
– –
LPAA
18
Launch One Acquisition Corp
LPAA
$16M 1.36%
1,480,000
– –
CEPF
19
Cantor Equity Partners IV
CEPF
$592M
$15.6M 1.32%
1,500,000
– –
IRHO
20
Iron Horse Acquisitions Corp II
IRHO
$15M 1.28%
+1,500,000
New +$15M
MESH
21
Meshflow Acquisition Corp
MESH
$435M
$15M 1.27%
+1,500,000
New +$14.9M
WLCOU
22
Wilco 63 Corporation Units
WLCOU
$199M
$14.9M 1.27%
+1,500,000
New +$14.9M
QADR
23
QDRO Acquisition Corp
QADR
$250M
$14.9M 1.26%
+1,500,000
New +$14.9M
APTV icon
24
Aptiv
APTV
$9.5B
$14.8M 1.25%
240,889
+7,797
+3% +$477K
IPCX
25
DELISTED
Inflection Point Acquisition Corp III
IPCX
$14.5M 1.23%
1,400,000
– –
1
2 3 4 5

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FSWA
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CA
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KBFS
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TPI
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TFA
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KCM
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MMCAP International's Q2 2026 Portfolio in Review

As of Q2 2026, MMCAP International held 364 positions worth $1.18B, up 1.8% from $1.16B the previous quarter. Its ten largest holdings account for 28% of the portfolio.

MMCAP International's Q2 2026 filing shows 120 new, 9 increased, 17 reduced and 61 closed positions. Its largest new stake was Churchill Capital Corp XII: 2,700,000 shares worth $28.8M. The largest sale was Xanadu Quantum Technologies Class B, an estimated $48.1M.

By sector, the portfolio is most concentrated in Financials at 57% of assets, up from 36% a quarter earlier, followed by Materials and Miscellaneous.

  • MMCAP International's largest Q2 2026 buy was Churchill Capital Corp XII: 2,700,000 shares worth $28.8M.
  • MMCAP International added most to NewHold Investment Corp III in Q2 2026, an estimated $5.37M increase.
  • MMCAP International's biggest Q2 2026 reduction was Aris Mining, cutting an estimated $17.7M.
  • MMCAP International fully exited Xanadu Quantum Technologies Class B in Q2 2026, selling an estimated $48.1M.
  • MMCAP International's ten largest holdings make up 28% of its $1.18B portfolio in Q2 2026.
  • MMCAP International opened 120 new positions and closed 61 in Q2 2026.
  • MMCAP International's portfolio value rose 1.8% quarter-over-quarter to $1.18B.

Based on MMCAP International's 13F filing for Q2 2026, filed 14 Aug 2026.