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Tenor Capital Management Portfolio holdings

AUM $6.49B
1-Year Est. Return 3%
This Fund
S&P 500
This Quarter Est. Return
+0.05%
1 Year Est. Return
+3%
3 Year Est. Return
+3.9%
5 Year Est. Return
+4.41%
10 Year Est. Return
+12.14%
AUM
$7.02B
AUM Growth
-$108M
Cap. Flow
-$5.38B
Cap. Flow %
-76.71%
Top 10 Hldgs %
21.71%
Holding
321
New
30
Increased
1
Reduced
2
Closed
19

Top Buys

Rank Stock Value
1
KFIIU
K&F Growth Acquisition Corp II Unit
KFIIU
+$20M
2
ATIIU
Archimedes Tech SPAC Partners II Co Unit
ATIIU
+$15.1M
3
LOKVU
Live Oak Acquisition Corp V Units
LOKVU
+$15.1M
4
HVIIU
Hennessy Capital Investment Corp VII Unit
HVIIU
+$15.1M
5
FERAU
Fifth Era Acquisition Corp I Units
FERAU
+$15M

Top Sells

Rank Stock Value
1
DRDBU
Roman DBDR Acquisition Corp II Unit
DRDBU
+$10.1M
2
TDACU
Translational Development Acquisition Corp Units
TDACU
+$6.37M
3
FACTU
FACT II Acquisition Corp Unit
FACTU
+$5.99M
4
RANGU
Range Capital Acquisition Corp Units
RANGU
+$5.03M
5
MLACU
Mountain Lake Acquisition Corp Units
MLACU
+$5.01M

Sector Composition

Rank Sector Weight
1 Financials 1.69%
2 Healthcare 0.07%
3 Technology 0.03%
4 Utilities 0.03%
5 Communication Services 0.01%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SDSTW
126
Stardust Power Inc Warrant
SDSTW
$5.67M
$3.56K ﹤0.01%
49,432
– –
LVWR.WS icon
127
LiveWire Group Warrants
LVWR.WS
$5.09M
$3.41K ﹤0.01%
160,820
– –
VLN.WS
128
DELISTED
Valens Semiconductor Ltd Warrants
VLN.WS
$3.38K ﹤0.01%
75,000
– –
LMND.WS
129
DELISTED
Lemonade Inc Warrants
LMND.WS
$3.02K ﹤0.01%
50,242
– –
CCGWW
130
Cheche Group Inc Warrant
CCGWW
$3K ﹤0.01%
100,000
– –
FORLW
131
DELISTED
Four Leaf Acquisition Corp Warrants
FORLW
$3K ﹤0.01%
60,000
– –
GDEVW icon
132
GDEV Inc Warrant
GDEVW
$56.7K
$2.95K ﹤0.01%
124,999
– –
RDZNW icon
133
Roadzen Inc Warrants
RDZNW
$8.64M
$2.81K ﹤0.01%
50,000
– –
ZCARW
134
DELISTED
Zoomcar Holdings, Inc. Warrants
ZCARW
$2.76K ﹤0.01%
200,000
– –
OAKUW
135
DELISTED
Oak Woods Acquisition Corp Warrant
OAKUW
$2.63K ﹤0.01%
75,000
– –
ANGHW icon
136
Anghami Inc Warrants
ANGHW
$2.6K ﹤0.01%
200,000
– –
CREVW
137
DELISTED
Carbon Revolution PLC Warrant
CREVW
$2.6K ﹤0.01%
66,666
– –
DISTW
138
DELISTED
Distoken Acquisition Corporation Warrant
DISTW
$2.59K ﹤0.01%
100,000
– –
PBMWW
139
Psyence Biomedical Warrant
PBMWW
$337K
$2.54K ﹤0.01%
150,000
– –
BENFW icon
140
Beneficient Warrant
BENFW
$2.19K ﹤0.01%
300,000
– –
PERF.WS
141
DELISTED
Perfect Corp Warrants
PERF.WS
$2.02K ﹤0.01%
50,000
– –
LDTCW
142
DELISTED
LeddarTech Holdings Inc. Warrants
LDTCW
$2.02K ﹤0.01%
33,333
– –
GGROW
143
Gogoro Inc Warrant
GGROW
$187K
$1.93K ﹤0.01%
75,000
– –
COCHW icon
144
Envoy Medical Warrant
COCHW
$574K
$1.65K ﹤0.01%
50,000
– –
VEEAW
145
Veea Inc Warrant
VEEAW
$604K
$1.65K ﹤0.01%
20,000
– –
SWVLW icon
146
Swvl Holdings Corp Warrant
SWVLW
$1.54K ﹤0.01%
100,000
– –
ICUCW
147
SeaStar Medical Holding Corp Warrant
ICUCW
$1.4K ﹤0.01%
40,000
– –
SST.WS
148
DELISTED
System1, Inc. Warrants, each whole warrant exercisable for one share of Class A Common Stock at an exercise price of $11.50 per share
SST.WS
$1.21K ﹤0.01%
60,750
– –
PIIIW icon
149
P3 Health Partners Inc Warrant
PIIIW
$179K
$1.21K ﹤0.01%
100,624
– –
BNZIW
150
DELISTED
Banzai International Warrant
BNZIW
$1.18K ﹤0.01%
50,000
– –
4 5
6
7 8

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Tenor Capital Management's Q1 2025 Portfolio in Review

As of Q1 2025, Tenor Capital Management held 321 positions worth $7.02B, down 1.5% from $7.13B the previous quarter. Its ten largest holdings account for 22% of the portfolio.

Tenor Capital Management withdrew a net $5.38B in Q1 2025, closing 19 positions and reducing 2 holdings. Its most notable exit was Roman DBDR Acquisition Corp II Unit, an estimated $10.1M position sold in full.

By sector, the portfolio is most concentrated in Financials at 1.7% of assets, up from 0.75% a quarter earlier, followed by Healthcare and Technology.

Against the trend, Tenor Capital Management opened a new position in K&F Growth Acquisition Corp II Unit worth $20.2M.

  • Tenor Capital Management's largest Q1 2025 buy was K&F Growth Acquisition Corp II Unit: 2,000,000 shares worth $20.2M.
  • Tenor Capital Management added most to Bitdeer Technologies in Q1 2025, an estimated $2.99K increase.
  • Tenor Capital Management's biggest Q1 2025 reduction was Groupon, cutting an estimated $369K.
  • Tenor Capital Management fully exited Roman DBDR Acquisition Corp II Unit in Q1 2025, selling an estimated $10.1M.
  • Tenor Capital Management's ten largest holdings make up 22% of its $7.02B portfolio in Q1 2025.
  • Tenor Capital Management opened 30 new positions and closed 19 in Q1 2025.
  • Tenor Capital Management's portfolio value fell 1.5% quarter-over-quarter to $7.02B.

Based on Tenor Capital Management's 13F filing for Q1 2025, filed 15 May 2025.