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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
+0.37%
1 Year Est. Return
+3%
3 Year Est. Return
+3.9%
5 Year Est. Return
+4.41%
10 Year Est. Return
+12.14%
AUM
$7.41B
AUM Growth
+$397M
Cap. Flow
-$4.77B
Cap. Flow %
-64.38%
Top 10 Hldgs %
22.71%
Holding
384
New
86
Increased
12
Reduced
5
Closed
23

Top Buys

Rank Stock Value
1
CHAC
Crane Harbor Acquisition Corp
CHAC
+$21.6M
2
GTEN
Gores Holdings X
GTEN
+$20.5M
3
KFII
K&F Growth Acquisition Corp II
KFII
+$20.1M
4
TACH
Titan Acquisition Corp
TACH
+$20.1M
5
LOKV
Live Oak Acquisition Corp V
LOKV
+$18M

Top Sells

Rank Stock Value
1
KFIIU
K&F Growth Acquisition Corp II Unit
KFIIU
+$20.2M
2
ATIIU
Archimedes Tech SPAC Partners II Co Unit
ATIIU
+$15.2M
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
+$15.1M

Sector Composition

Rank Sector Weight
1 Financials 6.89%
2 Industrials 0.29%
3 Technology 0.09%
4 Healthcare 0.03%
5 Utilities 0.02%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
OAKUW
201
DELISTED
Oak Woods Acquisition Corp Warrant
OAKUW
$2.25K ﹤0.01%
75,000
– –
BENFW icon
202
Beneficient Warrant
BENFW
$2.07K ﹤0.01%
300,000
– –
SLXNW
203
Silexion Therapeutics Warrant
SLXNW
$130K
$2.04K ﹤0.01%
50,000
– –
PERF.WS
204
DELISTED
Perfect Corp Warrants
PERF.WS
$1.81K ﹤0.01%
50,000
– –
FORLW
205
DELISTED
Four Leaf Acquisition Corp Warrants
FORLW
$1.8K ﹤0.01%
60,000
– –
COCHW icon
206
Envoy Medical Warrant
COCHW
$574K
$1.76K ﹤0.01%
50,000
– –
SWVLW icon
207
Swvl Holdings Corp Warrant
SWVLW
$1.68K ﹤0.01%
100,000
– –
GDEVW icon
208
GDEV Inc Warrant
GDEVW
$56.7K
$1.64K ﹤0.01%
124,999
– –
UWMC.WS
209
DELISTED
UWM Holdings Warrants
UWMC.WS
$1.44K ﹤0.01%
20,560
– –
XBPEW
210
XBP Europe Holdings Warrant
XBPEW
$1.36K ﹤0.01%
25,000
– –
BZFDW icon
211
BuzzFeed Inc Warrant
BZFDW
$643K
$1.34K ﹤0.01%
16,666
– –
SDSTW
212
Stardust Power Inc Warrant
SDSTW
$1.32K ﹤0.01%
49,432
– –
TOIIW
213
DELISTED
The Oncology Institute Warrant
TOIIW
$1.28K ﹤0.01%
25,000
– –
BNZIW icon
214
Banzai International Warrant
BNZIW
$1.25K ﹤0.01%
50,000
– –
CEROW
215
DELISTED
CERo Therapeutics Warrants
CEROW
$1.19K ﹤0.01%
50,000
– –
CREVW
216
DELISTED
Carbon Revolution PLC Warrant
CREVW
$1.17K ﹤0.01%
66,666
– –
PIIIW icon
217
P3 Health Partners Inc Warrant
PIIIW
$179K
$1.13K ﹤0.01%
100,624
– –
BNAIW
218
Brand Engagement Network Warrant
BNAIW
$1.97M
$1.1K ﹤0.01%
36,666
– –
CGBSW
219
DELISTED
Crown LNG Holdings Limited Warrants
CGBSW
$1.06K ﹤0.01%
33,333
– –
GGROW
220
Gogoro Inc Warrant
GGROW
$187K
$975 ﹤0.01%
75,000
– –
ICUCW
221
SeaStar Medical Holding Corp Warrant
ICUCW
$796 ﹤0.01%
40,000
– –
ALUR.WS
222
DELISTED
Allurion Technologies Warrants
ALUR.WS
$481 ﹤0.01%
15,312
– –
ISPOW
223
DELISTED
Inspirato Inc Warrant
ISPOW
$469 ﹤0.01%
37,500
– –
LANV.WS
224
DELISTED
Lanvin Group Holdings Warrants
LANV.WS
$380 ﹤0.01%
20,000
– –
GB.WS
225
DELISTED
Global Blue Group Holding AG Warrants exercisable for one Ordinary Share of Global Blue Group Holding AG at a price of $11.50 per share
GB.WS
– –
-1,500,000
Closed -$33.3K
6 7 8
9
10

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LAM
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PCH
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Tenor Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, Tenor Capital Management held 384 positions worth $7.41B, up 5.7% from $7.02B the previous quarter. Its ten largest holdings account for 23% of the portfolio.

Tenor Capital Management withdrew a net $4.77B in Q2 2025, closing 23 positions and reducing 5 holdings. Its most notable exit was K&F Growth Acquisition Corp II Unit, an estimated $20.2M position sold in full.

By sector, the portfolio is most concentrated in Financials at 6.9% of assets, up from 1.7% a quarter earlier, followed by Industrials and Technology.

Against the trend, Tenor Capital Management opened a new position in Crane Harbor Acquisition Corp worth $21.8M.

  • Tenor Capital Management's largest Q2 2025 buy was Crane Harbor Acquisition Corp: 2,160,000 shares worth $21.8M.
  • Tenor Capital Management added most to Legato Merger Corp III in Q2 2025, an estimated $10.2M increase.
  • Tenor Capital Management's biggest Q2 2025 reduction was Cantor Equity Partners I, cutting an estimated $9.52M.
  • Tenor Capital Management fully exited K&F Growth Acquisition Corp II Unit in Q2 2025, selling an estimated $20.2M.
  • Tenor Capital Management's ten largest holdings make up 23% of its $7.41B portfolio in Q2 2025.
  • Tenor Capital Management opened 86 new positions and closed 23 in Q2 2025.
  • Tenor Capital Management's portfolio value rose 5.7% quarter-over-quarter to $7.41B.

Based on Tenor Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.