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MI
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 | |
|---|---|---|---|---|---|---|---|
26
HCM IV Acquisition Corp
HACQ
$374M
| $14M | 1.19% |
+1,400,000
| New | +$14M |
2026 Q2
0 quarters
|
|
27
GP-Act III Acquisition Corp
GPAT
$178M
| $13.9M | 1.17% |
1,275,000
| – | – |
2024 Q3
7 quarters
|
|
|
CAES
28
Cantor Equity Partners VII
CAES
$319M
| $13.6M | 1.15% |
+1,350,000
| New | +$13.6M |
2026 Q2
0 quarters
|
|
29
Cantor Equity Partners V
CEPV
$325M
| $12.4M | 1.05% |
1,200,000
| – | – |
2025 Q4
2 quarters
|
|
30
Wen Acquisition Corp
WENN
$391M
| $12.3M | 1.05% |
1,200,000
| – | – |
2025 Q3
3 quarters
|
|
31
Aldabra 4 Liquidity Opportunity Vehicle
ALOV
$376M
| $11.9M | 1.01% |
+1,200,000
| New | +$11.9M |
2026 Q2
0 quarters
|
|
32
General Motors
GM
$73.7B
| $11.6M | 0.98% |
150,635
+16,619
| +12% | +$1.31M |
2024 Q3
7 quarters
|
|
33
Zone Frontier Inc.
ZONE
$57.5M
| $11.4M | 0.97% |
13,950,444
-2,917,169
| -17% | -$1.62M |
2025 Q4
2 quarters
|
|
34
M3-Brigade Acquisition VI Corp
MBVI
$442M
| $11.1M | 0.94% |
1,100,000
| – | – |
2025 Q4
2 quarters
|
|
35
Mercado Libre
MELI
$95.1B
| $10.7M | 0.91% |
+6,298
| New | +$10.8M |
2026 Q2
0 quarters
|
|
|
SBXD
36
DELISTED
SilverBox Corp IV
SBXD
| $10.6M | 0.9% |
980,000
| – | – |
2025 Q1
5 quarters
|
|
37
Lionheart Holdings
CUB
$285M
| $10.6M | 0.89% |
980,000
| – | – |
2024 Q3
7 quarters
|
|
38
United Acquisition Corp I
UAC
| $10.4M | 0.88% |
+1,050,000
| New | +$10.4M |
2026 Q2
0 quarters
|
|
39
FutureCrest Acquisition Corp
FCRS
$367M
| $10.3M | 0.87% |
1,000,000
| – | – |
2025 Q4
2 quarters
|
|
40
HCM III Acquisition Corp
HCMA
$348M
| $10.3M | 0.87% |
1,000,000
| – | – |
2025 Q4
2 quarters
|
|
41
Sea Limited
SE
$58.8B
| $10.2M | 0.87% |
+106,638
| New | +$9.37M |
2026 Q2
0 quarters
|
|
42
STMicroelectronics
STM
$44.4B
| $10.2M | 0.86% |
135,542
-174,383
| -56% | -$10.5M |
2026 Q1
1 quarter
|
|
|
GHXIU
43
Gores Holdings XI Inc Units
GHXIU
| $10.2M | 0.86% |
+1,000,000
| New | +$10.1M |
2026 Q2
0 quarters
|
|
44
Trailblazer Acquisition Corp
BLZR
$352M
| $10.1M | 0.86% |
1,000,000
| – | – |
2025 Q4
2 quarters
|
|
45
American Drive Acquisition Co
ADAC
$290M
| $10M | 0.85% |
+1,000,000
| New | +$9.97M |
2026 Q2
0 quarters
|
|
46
Launchpad Cadenza Acquisition Corp I
LPCV
$290M
| $10M | 0.85% |
+1,000,000
| New | +$9.96M |
2026 Q2
0 quarters
|
|
47
RMG ML Sports Holdings Unit
SHOTU
$204M
| $9.24M | 0.78% |
+925,000
| New | +$9.23M |
2026 Q2
0 quarters
|
|
48
Denison Mines
DNN
$2.11B
| $8.74M | 0.74% |
2,857,531
| – | – |
2020 Q4
22 quarters
|
|
49
Snap
SNAP
$11B
| $8.7M | 0.74% |
1,958,828
| – | – |
2026 Q1
1 quarter
|
|
|
ISNRU
50
Snow Rothschild Acquisition Corp Units
ISNRU
$199M
| $8.51M | 0.72% |
+850,000
| New | +$8.51M |
2026 Q2
0 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.