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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
(+1.8%)
Cap. Flow
+$16.1M
Cap. Flow
% of AUM
1.36%
Top 10 Holdings %
Top 10 Hldgs %
28.11%
Holding
364
New
120
Increased
9
Reduced
17
Closed
61
Avg Time Held
3.3
quarters
Top 10 Avg Time Held
3
quarters
Top 20 Avg Time Held
2.2
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Churchill Capital Corp XII
CXII
|
+$27.8M |
| 2 |
CGCFU
Cartesian Growth Corporation IV Unit
CGCFU
|
+$23.5M |
| 3 |
Inflection Point Acquisition Corp VI
IPFX
|
+$20M |
| 4 |
FTRA.U
FutureCorp Space Acquisition 1 Units
FTRA.U
|
+$17.8M |
| 5 |
MOZAYYX Acquisition Corp
MZYX
|
+$17.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Xanadu Quantum Technologies Class B
XNDU
|
+$48.1M |
| 2 |
Churchill Capital Corp XI Units
CCXIU
|
+$27.7M |
| 3 |
Aris Mining
ARIS
|
+$17.7M |
| 4 |
MOZAYYX Acquisition Corp Units
MZYX.U
|
+$17.4M |
| 5 |
Idea Acquisition Corp Units
IACOU
|
+$17.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 56.95% |
| 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 | Held Since | |
|---|---|---|---|---|---|---|---|
276
Illumination Acquisition Corp I Warrant
ILLUW
| $12K | ﹤0.01% |
+25,000
| New | +$9.62K |
2026 Q2
0 quarters
|
|
277
Galata Acquisition Corp II Warrant
LATAW
| $11.7K | ﹤0.01% |
33,333
| – | – |
2025 Q4
2 quarters
|
|
278
Nauticus Robotics Warrant
KITTW
$150K
| $11.5K | ﹤0.01% |
500,000
| – | – |
2021 Q3
19 quarters
|
|
279
CDT Equity Inc Warrant
CDTTW
$374K
| $11.5K | ﹤0.01% |
700,000
| – | – |
2022 Q2
16 quarters
|
|
|
NIVFW
280
NewGenIvf Group Warrants
NIVFW
$101K
| $11.3K | ﹤0.01% |
375,000
| – | – |
2024 Q2
8 quarters
|
|
281
ProCap Acquisition Corp Warrant
PCAPW
| $10.7K | ﹤0.01% |
33,333
| – | – |
2025 Q3
3 quarters
|
|
282
Fusemachines Inc Warrants
FUSEW
$229K
| $10.5K | ﹤0.01% |
175,000
| – | – |
2025 Q4
2 quarters
|
|
283
Tailwind 2.0 Acquisition Corp Rights
TDWDR
| $9.38K | ﹤0.01% |
75,000
| – | – |
2025 Q4
2 quarters
|
|
284
OIO Group Warrants
OIOWW
| $8.67K | ﹤0.01% |
+154,750
| New | +$8.82K |
2026 Q2
0 quarters
|
|
|
CYCUW
285
Cycurion Inc Warrant
CYCUW
$205K
| $8.5K | ﹤0.01% |
500,000
| – | – |
2022 Q2
16 quarters
|
|
|
LIMNW
286
Liminatus Pharma Warrants
LIMNW
| $8.38K | ﹤0.01% |
111,745
| – | – |
2025 Q2
4 quarters
|
|
287
Beneficient Warrant
BENFW
$151K
| $8.1K | ﹤0.01% |
750,000
| – | – |
2023 Q2
12 quarters
|
|
288
Zeo Energy Corp Warrants
ZEOWW
$155K
| $7.55K | ﹤0.01% |
195,575
| – | – |
2021 Q4
18 quarters
|
|
289
SPACSphere Acquisition Corp Rights
SSACR
| $7.5K | ﹤0.01% |
+50,000
| New | +$8.48K |
2026 Q2
0 quarters
|
|
290
Murano Global Investments PLC Warrants
MRNOW
$169K
| $7.45K | ﹤0.01% |
500,000
| – | – |
2024 Q1
9 quarters
|
|
291
DELISTED
Valens Semiconductor Ltd Warrants
VLN.WS
| $5.99K | ﹤0.01% |
214,067
| – | – |
2021 Q3
19 quarters
|
|
292
MultiSensor AI Holdings Warrant
MSAIW
| $5.08K | ﹤0.01% |
175,250
| – | – |
2021 Q4
18 quarters
|
|
293
Apollomics Inc Warrant
APLMW
| $5.03K | ﹤0.01% |
250,000
| – | – |
2023 Q1
13 quarters
|
|
294
Banzai International Warrant
PARAW
$125K
| $3.45K | ﹤0.01% |
352,409
| – | – |
2021 Q1
21 quarters
|
|
|
295
SPACSphere Acquisition Corp Warrant
SSACW
$344K
| $3.06K | ﹤0.01% |
+25,000
| New | +$2.39K |
2026 Q2
0 quarters
|
|
296
DELISTED
Keen Vision Acquisition Corp Warrant
KVACW
| $3.04K | ﹤0.01% |
150,000
| – | – |
2023 Q3
11 quarters
|
|
297
SMX (Security Matters) Public Ltd Warrant
SMXWW
$678K
| $2.7K | ﹤0.01% |
125,000
| – | – |
2023 Q1
13 quarters
|
|
|
KIDZW
298
KIDZ AI Inc Warrants
KIDZW
$136K
| $2.36K | ﹤0.01% |
187,500
| – | – |
2025 Q2
4 quarters
|
|
|
GIBOW
299
GIBO Holdings Warrants
GIBOW
| $2.02K | ﹤0.01% |
125,000
| – | – |
2025 Q2
4 quarters
|
|
300
CID HoldCo Inc Warrants
DAICW
$204K
| $1.23K | ﹤0.01% |
100,000
| – | – |
2025 Q2
4 quarters
|
|
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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.