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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 | |
|---|---|---|---|---|---|---|---|
126
Leapfrog Acquisition Corp
LFAC
$198M
| $1.5M | 0.13% |
+150,000
| New | +$1.5M |
2026 Q2
0 quarters
|
|
127
Eightco Holdings
ORBS
$355M
| $1.43M | 0.12% |
2,054,795
| – | – |
2026 Q1
1 quarter
|
|
128
Archimedes Tech SPAC Partners II Co
ATII
$317M
| $1.35M | 0.11% |
125,000
| – | – |
2025 Q3
3 quarters
|
|
129
Strive Inc
ASST
$2.78B
| $1.34M | 0.11% |
122,480
| – | – |
2025 Q3
3 quarters
|
|
130
Alpha Tau Medical Warrant
DRTSW
$83.8M
| $1.32M | 0.11% |
447,622
| – | – |
2022 Q1
17 quarters
|
|
131
Vista Gold
VGZ
$378M
| $1.26M | 0.11% |
658,564
-481,436
| -42% | -$1.05M |
2026 Q1
1 quarter
|
|
132
Weyerhaeuser
WY
$13.7B
| $1.26M | 0.11% |
52,492
-358,892
| -87% | -$8.72M |
2025 Q4
2 quarters
|
|
133
Coeur Mining
CDE
$16.7B
| $1.22M | 0.1% |
75,000
| – | – |
2026 Q1
1 quarter
|
|
134
First Solar
FSLR
$20.1B
| $1.13M | 0.1% |
4,798
-500
| -9% | -$117K |
2026 Q1
1 quarter
|
|
|
CCIX
135
DELISTED
Churchill Capital Corp IX
CCIX
| $1.09M | 0.09% |
100,000
| – | – |
2024 Q3
7 quarters
|
|
136
Greenfire Resources
GFR
$1.63B
| $1.03M | 0.09% |
182,309
| – | – |
2025 Q3
3 quarters
|
|
137
ProCap Acquisition Corp
PCAP
$331M
| $1.03M | 0.09% |
100,000
| – | – |
2025 Q3
3 quarters
|
|
138
Akari Therapeutics
AKTX
$18.1M
| $1.02M | 0.09% |
+100,000
| New | +$863K |
2026 Q2
0 quarters
|
|
139
Willow Lane Acquisition Corp II
WLII
$206M
| $1.02M | 0.09% |
+100,000
| New | +$1.01M |
2026 Q2
0 quarters
|
|
140
Galata Acquisition Corp II
LATA
| $1.01M | 0.09% |
100,000
| – | – |
2025 Q4
2 quarters
|
|
141
Spartacus Acquisition Corp II
TMTS
$307M
| $1M | 0.08% |
+100,000
| New | +$998K |
2026 Q2
0 quarters
|
|
142
Hennessy Capital Investment Corp
HCIC
$357M
| $993K | 0.08% |
+100,000
| New | +$988K |
2026 Q2
0 quarters
|
|
|
143
Inflection Point Acquisition Corp VI Warrant
IPFXW
$5.9M
| $940K | 0.08% |
+499,999
| New | +$766K |
2026 Q2
0 quarters
|
|
|
FACWW
144
Factorial Energy Inc Warrant
FACWW
$9.23M
| $918K | 0.08% |
675,000
| – | – |
2025 Q3
3 quarters
|
|
145
Steel Dynamics
STLD
$34.5B
| $904K | 0.08% |
3,938
-69,970
| -95% | -$16.4M |
2026 Q1
1 quarter
|
|
146
Allied Gold Corp
AAUC
$2.83B
| $802K | 0.07% |
+33,778
| New | +$955K |
2026 Q2
0 quarters
|
|
147
Tailwind 2.0 Acquisition Corp
TDWD
$238M
| $753K | 0.06% |
75,000
| – | – |
2025 Q4
2 quarters
|
|
148
Western Copper and Gold
WRN
$437M
| $751K | 0.06% |
335,130
| – | – |
2026 Q1
1 quarter
|
|
149
Illumination Acquisition Corp I
ILLU
$312M
| $743K | 0.06% |
+75,000
| New | +$741K |
2026 Q2
0 quarters
|
|
150
Gen Digital Inc Contingent Value Rights
GENVR
| $686K | 0.06% |
542,308
| – | – |
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.