MMCAP International’s USA Rare Earth Inc Warrant USARW Stock Holding History

MMCAP International’s Portfolio USARW Stock Details USARW Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2025 Q4	–	Sell	-500,000	Closed	-$3.61M	–	216
2025 Q3	$3.61M	Hold	500,000	–	–	0.42%	55
2025 Q2	$1.19M	Hold	500,000	–	–	0.14%	63
2025 Q1	$335K	Hold	500,000	–	–	0.06%	52
2024 Q4	$245K	Hold	500,000	–	–	0.04%	54
2024 Q3	$119K	Hold	500,000	–	–	0.02%	58
2024 Q2	$47.4K	Hold	500,000	–	–	0.01%	87
2024 Q1	$67.5K	Hold	500,000	–	–	0.01%	69
2023 Q4	$45K	Hold	500,000	–	–	0.01%	70
2023 Q3	$86K	Buy	+500,000	New	+$100K	0.02%	48

MMCAP International's USARW Position: Q4 2025 in Review

MMCAP International sold out of USA Rare Earth Inc Warrant (USARW) in Q4 2025, closing a stake of 500,000 shares — an estimated $3.61M sold.

MMCAP International first reported a position in USARW in Q3 2023 and held it in 9 quarters. The position peaked at $3.61M in Q3 2025. 0 funds tracked by Wall St. Rank hold USARW as of Q4 2025.

MMCAP International reported no remaining USA Rare Earth Inc Warrant position as of Q4 2025 after selling out during the quarter.
MMCAP International sold 500,000 USA Rare Earth Inc Warrant shares in Q4 2025, an estimated $3.61M.
MMCAP International first reported a position in USA Rare Earth Inc Warrant in Q3 2023 and held it in 9 quarters.
MMCAP International's USA Rare Earth Inc Warrant position peaked at $3.61M in Q3 2025.
0 funds tracked by Wall St. Rank held USA Rare Earth Inc Warrant as of Q4 2025.

Based on MMCAP International's 13F filing for Q4 2025, filed 9 Feb 2026.