MMCAP International Portfolio holdings

AUM $587M

AUM

$587M

AUM Growth

-$78.1M (-12%)

Cap. Flow

+$105M

Cap. Flow % of AUM

17.84%

Top 10 Holdings %Top 10 Hldgs %

62.57%

Holding

169

New

Increased

Reduced

Closed

Top Buys

1	FERAU Fifth Era Acquisition Corp I Units FERAU	$19.1M
2	CEPO Cantor Equity Partners I, Inc. Class A Ordinary Shares CEPO	$11.3M
3	HOND HCM II Acquisition Corp. Class A Ordinary Shares HOND	$10.3M
4	SBXD SilverBox Corp IV SBXD	$9.97M
5	Denison Mines DNN	$8.28M

Top Sells

1	POET Technologies POET	$6.27M
2	LPAA Launch One Acquisition Corp. Class A Ordinary shares LPAA	$5.11M
3	BorgWarner BWA	$2.52M
4	UROY Uranium Royalty Corp UROY	$1.51M
5	BITF Bitfarms BITF	$1.18M

Sector Composition

1	Financials	46.03%
2	Energy	23.26%
3	Materials	18.53%
4	Consumer Discretionary	1.53%
5	Healthcare	1.19%

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
1	1 Uranium Energy UEC $2.79B	$94.2M	16.06%	19,716,341 +1,559,173	+9%	+$7.45M
2	ARMN 2 Aris Mining ARMN $1.12B	$52.4M	8.92%	11,324,587	–	–
3	ML 3 DELISTED MoneyLion Inc. ML	$46.9M	8%	542,308 +60,561	+13%	+$5.24M
4	4 Algoma Steel ASTL $617M	$36M	6.13%	6,641,417 +21,414	+0.3%	+$116K
5	5 Denison Mines DNN $1.51B	$31.1M	5.29%	23,895,317 +6,371,531	+36%	+$8.28M
6	ALF 6 Centurion Acquisition Corp. Class A Ordinary Shares ALF $380M	$25.5M	4.34%	2,475,000	–	–
7	GPAT 7 GP-Act III Acquisition Corp. Class A Ordinary Share GPAT $380M	$21.4M	3.64%	2,075,000	–	–
8	CUB 8 Lionheart Holdings Class A Ordinary Shares CUB $323M	$20.3M	3.47%	1,980,000	–	–
9	SIMA 9 SIM Acquisition Corp. I Class A Ordinary Shares SIMA $319M	$20.2M	3.45%	1,980,000	–	–
10	FERAU 10 Fifth Era Acquisition Corp I Units FERAU $245M	$19.1M	3.26%	1,900,000	New	+$19.1M
11	MBAVU 11 M3-Brigade Acquisition V Corp. Units MBAVU	$16.3M	2.78%	1,575,000	–	–
12	LPAA 12 Launch One Acquisition Corp. Class A Ordinary shares LPAA $301M	$15.1M	2.58%	1,480,000 -500,000	-25%	-$5.11M
13	CCIX 13 Churchill Capital Corp IX Ordinary Shares CCIX $388M	$14.6M	2.48%	1,350,000	–	–
14	URG 14 Ur-Energy URG $306M	$12.1M	2.06%	17,924,539 -179,574	-1%	-$121K
15	CEPO 15 Cantor Equity Partners I, Inc. Class A Ordinary Shares CEPO $314M	$11.3M	1.92%	1,100,000	New	+$11.3M
16	HOND 16 HCM II Acquisition Corp. Class A Ordinary Shares HOND $329M	$10.3M	1.76%	980,000	New	+$10.3M
17	SBXD 17 SilverBox Corp IV SBXD $268M	$9.97M	1.7%	980,000	New	+$9.97M
18	18 Haymaker Acquisition Corp 4 HYAC $328M	$9.89M	1.69%	900,000	–	–
19	BITF 19 Bitfarms BITF $499M	$9.34M	1.59%	11,852,745 -1,500,000	-11%	-$1.18M
20	GRAF 20 Graf Global Corp. GRAF $302M	$8.51M	1.45%	830,000	–	–
21	21 Energy Fuels UUUU $1.19B	$8.28M	1.41%	2,220,525 +716,714	+48%	+$2.67M
22	CCIR 22 Cohen Circle Acquisition Corp. I Class A Ordinary Shares CCIR $359M	$7.84M	1.34%	698,978	New	+$7.84M
23	CEP 23 Cantor Equity Partners, Inc. Class A Ordinary Shares CEP $468M	$6.44M	1.1%	600,000	–	–
24	POLE 24 Andretti Acquisition Corp. II Class A Ordinary Shares POLE $306M	$5.88M	1%	580,000	New	+$5.88M
25	NOEM 25 CO2 Energy Transition Corp. Common Stock NOEM $96.2M	$5.85M	1%	590,000	New	+$5.85M