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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
XBPEW
151
XBP Europe Holdings Warrant
XBPEW
$1.17K ﹤0.01%
25,000
– –
CGBSW
152
DELISTED
Crown LNG Holdings Limited Warrants
CGBSW
$1.17K ﹤0.01%
33,333
– –
BZFDW icon
153
BuzzFeed Inc Warrant
BZFDW
$643K
$916 ﹤0.01%
16,666
– –
CEROW
154
DELISTED
CERo Therapeutics Warrants
CEROW
$725 ﹤0.01%
50,000
– –
BNAIW
155
Brand Engagement Network Warrant
BNAIW
$1.97M
$678 ﹤0.01%
36,666
– –
STLNW
156
Starling Oncology, Inc. Warrant
STLNW
$5.04M
$677 ﹤0.01%
25,000
– –
ALUR.WS
157
DELISTED
Allurion Technologies Warrants
ALUR.WS
$444 ﹤0.01%
15,312
– –
LANV.WS
158
DELISTED
Lanvin Group Holdings Warrants
LANV.WS
$396 ﹤0.01%
20,000
– –
ISPOW
159
DELISTED
Inspirato Inc Warrant
ISPOW
$288 ﹤0.01%
37,500
– –
APLD icon
160
Applied Digital
APLD
$8.41B
– –
-200,000
Closed -$1.53M
QBTS.WS
161
DELISTED
D-Wave Quantum Inc Warrants
QBTS.WS
– –
-108,000
Closed -$421K
THCH icon
162
TH International
THCH
$56.7M
– –
-8,400
Closed -$29.8K
ELPW
163
Elong Power Holding Ltd
ELPW
$62.4K
– –
-8
Closed -$13.2K
FACTU
164
FACT II Acquisition Corp Unit
FACTU
– –
-600,000
Closed -$5.99M
JACS.U
165
Jackson Acquisition Co II Units
JACS.U
– –
-400,000
Closed -$4.02M
DRDBU
166
Roman DBDR Acquisition Corp II Unit
DRDBU
– –
-1,010,000
Closed -$10.1M
MLACU
167
DELISTED
Mountain Lake Acquisition Corp Units
MLACU
– –
-500,000
Closed -$5.01M
RANGU
168
Range Capital Acquisition Corp Units
RANGU
– –
-500,000
Closed -$5.03M
TDACU
169
Translational Development Acquisition Corp Units
TDACU
– –
-635,399
Closed -$6.37M
GRND.WS
170
DELISTED
Grindr Inc. Warrants, each exercisable for one share of Common Stock at an exercise price of $11.50 per share
GRND.WS
– –
-50,000
Closed -$338K
BYNOW
171
DELISTED
byNordic Acquisition Corporation Warrant
BYNOW
– –
-742,500
Closed -$22.6K
PROCW
172
DELISTED
Procaps Group, S.A. Warrants
PROCW
– –
-400,000
Closed -$16.7K
HYZNW
173
DELISTED
Hyzon Motors Inc. Warrants
HYZNW
– –
-80,127
Closed -$401
PPYAW
174
DELISTED
Papaya Growth Opportunity Corp. I Warrant
PPYAW
– –
-125,000
Closed -$2.51K
CITEW
175
DELISTED
Cartica Acquisition Corp Warrant
CITEW
– –
-50,000
Closed -$13.5K
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.