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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
+25.15%
1 Year Est. Return
+50.44%
3 Year Est. Return
+184.48%
5 Year Est. Return
+225.16%
10 Year Est. Return
–
AUM
$831M
AUM Growth
+$245M
Cap. Flow
+$56.9M
Cap. Flow %
6.84%
Top 10 Hldgs %
54.19%
Holding
167
New
36
Increased
5
Reduced
17
Closed
22

Top Buys

Rank Stock Value
1
POET icon
POET Technologies
POET
+$23.7M
2
NPACU
New Providence Acquisition Corp III Units
NPACU
+$22.5M
3
CCCXU
Churchill Capital Corp X Unit
CCCXU
+$20.7M
4
VLOS
Velos Acquisition I Corp
VLOS
+$16.6M
5
RDAGU
Republic Digital Acquisition Co Unit
RDAGU
+$16.3M

Top Sells

Rank Stock Value
1
ML
MoneyLion Inc.
ML
+$46.9M
2
UEC icon
Uranium Energy
UEC
+$22M
3
VLOSU
Velos Acquisition I Corp Units
VLOSU
+$16.3M
4
DNN icon
Denison Mines
DNN
+$15.9M
5
ALF
Centurion Acquisition Corp
ALF
+$13.6M

Sector Composition

Rank Sector Weight
1 Materials 25.29%
2 Financials 23.95%
3 Miscellaneous 22.65%
4 Energy 20.33%
5 Technology 4.41%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CUBWW
76
Lionheart Holdings Warrant
CUBWW
$5.46M
$337K 0.04%
990,000
– –
GPATW
77
GP-Act III Acquisition Corp Warrants
GPATW
$322K 0.04%
1,037,500
– –
CCIXW
78
DELISTED
Churchill Capital Corp IX Warrant
CCIXW
$321K 0.04%
337,500
– –
BZAIW
79
Blaize Holdings Warrants
BZAIW
$3.16M
$288K 0.03%
750,000
– –
SIMAW
80
SIM Acquisition Corp I Warrant
SIMAW
$271K 0.03%
990,000
– –
LPAAW
81
Launch One Acquisition Corp Warrant
LPAAW
$267K 0.03%
990,000
– –
USAR
82
USA Rare Earth Inc
USAR
$4.4B
$261K 0.03%
+23,800
New +$252K
AFRIW icon
83
Forafric Global PLC Warrants
AFRIW
$11.6M
$239K 0.03%
518,900
– –
LPBBW
84
Launch Two Acquisition Corp Warrant
LPBBW
$226K 0.03%
490,000
– –
LZM icon
85
Lifezone Metals
LZM
$390M
$200K 0.02%
+48,568
New +$181K
RZLVW
86
Rezolve AI Warrants
RZLVW
$5.89M
$200K 0.02%
250,000
– –
SONN
87
DELISTED
Sonnet BioTherapeutics
SONN
$166K 0.02%
133,590
– –
HYAC.WS
88
DELISTED
Haymaker Acquisition Corp 4 Warrants
HYAC.WS
$162K 0.02%
450,000
– –
JACS.RT
89
Jackson Acquisition Co II Rights
JACS.RT
$140K 0.02%
500,000
– –
CRMLW icon
90
Critical Metals Corp Warrants
CRMLW
$21.1M
$137K 0.02%
300,000
– –
FLDDW
91
Fold Holdings Warrant
FLDDW
$948K
$124K 0.01%
175,000
– –
TONT.WS
92
Graf Global Corp Warrants
TONT.WS
$120K 0.01%
415,000
– –
DRTSW icon
93
Alpha Tau Medical Warrant
DRTSW
$88.7M
$107K 0.01%
447,622
– –
NOEMR
94
CO2 Energy Transition Corp Right
NOEMR
$103K 0.01%
590,000
– –
JVSAR
95
DELISTED
JV SPAC Acquisition Corp. Right
JVSAR
$100K 0.01%
115,000
– –
FUFUW icon
96
BitFuFu Inc Warrant
FUFUW
$1.1M
$99.8K 0.01%
330,000
– –
MRNOW
97
Murano Global Investments PLC Warrants
MRNOW
$97.5K 0.01%
500,000
– –
SATLW icon
98
Satellogic Inc Warrant
SATLW
$56.5M
$71.7K 0.01%
+166,666
New +$92.2K
AMODW
99
Alpha Modus Holdings Warrant
AMODW
$181K
$65.3K 0.01%
588,000
– –
SBCWW
100
SBC Medical Group Warrants
SBCWW
$3.62M
$63.7K 0.01%
330,000
– –
2 3
4
5 6

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NFG
Nadler Financial Group Deerfield, Illinois $1.18B AUM 22.34% 1-Year Est. Return
FSWA
Financial Synergies Wealth Advisors Houston, Texas $1.18B AUM 31.41% 1-Year Est. Return
CA
Cache Advisors San Francisco, California $1.18B AUM 44.04% 1-Year Est. Return
KBFS
Kohmann Bosshard Financial Services Fairlawn, Ohio $1.18B AUM 16.34% 1-Year Est. Return
TPI
Trust Point Inc La Crosse, Wisconsin $1.18B AUM 26.72% 1-Year Est. Return
TFA
Transamerica Financial Advisors St. Petersburg, Florida $1.18B AUM 31.24% 1-Year Est. Return
KCM
Knighthead Capital Management New York $1.18B AUM 54.89% 1-Year Est. Return
CF
Clarity Financial Houston, Texas $1.18B AUM 16.13% 1-Year Est. Return

MMCAP International's Q2 2025 Portfolio in Review

As of Q2 2025, MMCAP International held 167 positions worth $831M, up 42% from $587M the previous quarter. Its ten largest holdings account for 54% of the portfolio.

MMCAP International deployed $56.9M of net new capital in Q2 2025, opening 36 new positions and adding to 5 existing holdings. Its largest new stake was New Providence Acquisition Corp III Units: 2,200,000 shares worth $23M.

By sector, the portfolio is most concentrated in Materials at 25% of assets, up from 19% a quarter earlier, followed by Financials and Miscellaneous.

On the sell side, the largest reduction was Uranium Energy, an estimated $22M trimmed.

  • MMCAP International's largest Q2 2025 buy was New Providence Acquisition Corp III Units: 2,200,000 shares worth $23M.
  • MMCAP International added most to POET Technologies in Q2 2025, an estimated $23.7M increase.
  • MMCAP International's biggest Q2 2025 reduction was Uranium Energy, cutting an estimated $22M.
  • MMCAP International fully exited MoneyLion Inc. in Q2 2025, selling an estimated $46.9M.
  • MMCAP International's ten largest holdings make up 54% of its $831M portfolio in Q2 2025.
  • MMCAP International opened 36 new positions and closed 22 in Q2 2025.
  • MMCAP International's portfolio value rose 42% quarter-over-quarter to $831M.

Based on MMCAP International's 13F filing for Q2 2025, filed 6 Aug 2025.