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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
+12.25%
1 Year Est. Return
+50.44%
3 Year Est. Return
+184.48%
5 Year Est. Return
+225.16%
10 Year Est. Return
–
AUM
$274M
AUM Growth
+$180M
Cap. Flow
+$162M
Cap. Flow %
59.18%
Top 10 Hldgs %
80.24%
Holding
64
New
22
Increased
10
Reduced
7
Closed
15

Top Buys

Rank Stock Value
1
CCXX.U
Churchill Capital Corp III Units, each consisting of one share of Class A Common Stock and one-fourt
CCXX.U
+$52.3M
2
FUSE.U
Fusion Acquisition Corp. Units, each consisting of one share of Class A common stock, $0.0001 par va
FUSE.U
+$20.3M
3
GSAH.U
GS Acquisition Holdings Corp II Units, each consisting of one share of Class A Common Stock and one-
GSAH.U
+$10.5M
4
WPF.U
Foley Trasimene Acquisition Corp.
WPF.U
+$10.5M
5
TREB.U
Trebia Acquisition Corp. Units, each consisting of one Class A Ordinary Share, and one-third of one
TREB.U
+$10.4M

Top Sells

Rank Stock Value
1
SFT
Shift Technologies, Inc. Class A Common Stock
SFT
+$6.33M
2
SAQNU
Software Acquisition Group Inc. Unit
SAQNU
+$5.66M
3
GDYN icon
Grid Dynamics Holdings
GDYN
+$3.65M
4
CCX.U
Churchill Capital Corp II
CCX.U
+$1.45M
5
AVPTW
AvePoint Inc Warrant
AVPTW
+$755K

Sector Composition

Rank Sector Weight
1 Miscellaneous 69.09%
2 Consumer Staples 15.49%
3 Financials 6.32%
4 Technology 2.66%
5 Healthcare 2.66%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SFT
51
DELISTED
Shift Technologies, Inc. Class A Common Stock
SFT
– –
-62,950
Closed -$6.33M
SCVX.WS
52
DELISTED
SCVX Corp.
SCVX.WS
– –
-60,000
Closed -$24K
UUUU.WS
53
DELISTED
Energy Fuels Inc.
UUUU.WS
– –
-27,600
Closed -$10K
APXTU
54
DELISTED
Apex Technology Acquisition Corporation Unit
APXTU
– –
-10,000
Closed -$102K
CCX.U
55
DELISTED
Churchill Capital Corp II
CCX.U
– –
-140,538
Closed -$1.45M
THBRU
56
DELISTED
Thunder Bridge Acquisition II, Ltd. Units
THBRU
– –
-40,000
Closed -$408K
HYACU
57
DELISTED
Haymaker Acquisition Corp. II Unit
HYACU
– –
-30,001
Closed -$303K
ORSNR
58
DELISTED
Orisun Acquisition Corp. Right
ORSNR
– –
-36,148
Closed -$7K
CFFAU
59
DELISTED
CF Finance Acquisition Corp. Unit
CFFAU
– –
-40,000
Closed -$438K
SAQNU
60
DELISTED
Software Acquisition Group Inc. Unit
SAQNU
– –
-600,000
Closed -$5.66M
INSUU
61
DELISTED
Insurance Acquisition Corp. Unit
INSUU
– –
-20,000
Closed -$208K
ACTTW
62
DELISTED
Act II Global Acquisition Corp Warrant
ACTTW
– –
-750,000
Closed -$525K
1 2
3

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MMCAP International's Q2 2020 Portfolio in Review

As of Q2 2020, MMCAP International held 64 positions worth $274M, up 191% from $94.2M the previous quarter. Its ten largest holdings account for 80% of the portfolio.

MMCAP International deployed $162M of net new capital in Q2 2020, opening 22 new positions and adding to 10 existing holdings. Its largest new stake was Churchill Capital Corp III Units, each consisting of one share of Class A Common Stock and one-fourt: 5,000,000 shares worth $56.5M.

By sector, the portfolio is most concentrated in Miscellaneous at 69% of assets, up from 20% a quarter earlier, followed by Consumer Staples and Financials.

On the sell side, the largest reduction was AvePoint Inc Warrant, an estimated $755K trimmed.

  • MMCAP International's largest Q2 2020 buy was Churchill Capital Corp III Units, each consisting of one share of Class A Common Stock and one-fourt: 5,000,000 shares worth $56.5M.
  • MMCAP International added most to Skillsoft in Q2 2020, an estimated $6.99M increase.
  • MMCAP International's biggest Q2 2020 reduction was AvePoint Inc Warrant, cutting an estimated $755K.
  • MMCAP International fully exited Shift Technologies, Inc. Class A Common Stock in Q2 2020, selling an estimated $6.33M.
  • MMCAP International's ten largest holdings make up 80% of its $274M portfolio in Q2 2020.
  • MMCAP International opened 22 new positions and closed 15 in Q2 2020.
  • MMCAP International's portfolio value rose 191% quarter-over-quarter to $274M.

Based on MMCAP International's 13F filing for Q2 2020, filed 14 Aug 2020.