Radcliffe Capital Management, L.P.

BALA CYNWYD, PA · CIK 1218275 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 2006 · limited partnership

Assets managed$5.1bn
Staff22 · 11 in investment roles
Main clients (by assets)Private funds 81%, Companies 6%, State and local governments 3%
Private funds7 (6 hedge) · $4.1bn gross assets
Websiteradcliffefunds.com
Form ADV · 2026-03-30SEC adviser record

Legal entityRadcliffe Capital Management, L.P. (US)

Kindhedge funds
Others nearbyBala Cynwyd, PA

As an employer

Offices in1 country
Private fundshedge 6, other private 1

$1.3bn reported value -1.4% vs Q1 2026

450positions

23.0%in top 10

114 new 83 added 41 reduced 69 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	TELADOC HEALTH INC NOTE 1.250% 6/0 · principal TDOC 1.25 06.01.27 · principal	TDOC 1.25 06.01.27	62,250,000	$60.4m4.59%	4.59%	Reduced -53.5m	-53,500,000 -46.2%
2	ENPHASE ENERGY INC NOTE 3/0 · principal ENPH 0 03.01.28 · principal	ENPH 0 03.01.28	49,639,000	$46.1m3.51%	3.51%	Unchanged
3	FIVE9 INC NOTE 1.000% 3/1 · principal FIVN 1 03.15.29 · principal	FIVN 1 03.15.29	43,506,000	$38.5m2.93%	2.93%	Unchanged
4	ETSY INC NOTE 0.250% 6/1 · principal ETSY 0.25 06.15.28 · principal	ETSY 0.25 06.15.28	40,000,000	$36.5m2.78%	2.78%	Added +2.0m	+2,000,000 5.3%
5	RAPID7 INC NOTE 0.250% 3/1 · principal RPD 0.25 03.15.27 · principal	RPD 0.25 03.15.27	36,500,000	$35.0m2.66%	2.66%	New
6	DEXCOM INC NOTE 0.375% 5/1 · principal DXCM 0.375 05.15.28 · principal	DXCM 0.375 05.15.28	26,000,000	$24.2m1.84%	1.84%	Unchanged
7	GLADSTONE CAP CORP NOTE 5.875%10/0 · principal GLAD 5.875 10.01.30 · principal	GLAD 5.875 10.01.30	21,400,000	$20.6m1.56%	1.56%	Unchanged
8	DATADOG INC NOTE 12/0 · principal DDOG 0 12.01.29 · principal	DDOG 0 12.01.29	10,000,000	$14.2m1.08%	1.08%	Added +5.0m	+5,000,000 100.0%
9	ARES ACQUISITION CORP III UNIT 99/99/9999 AAC.U	AAC.U	1,393,343	$14.0m1.06%	1.06%	New
10	BERTO ACQUISITION CORP II UNIT 03/06/2031 GUACU	GUACU	1,300,000	$13.2m1.00%	1.00%	New
11	D BORAL ACQUISITION I CORP ORD SHS CL A DBCA	DBCA	1,275,715	$12.7m0.97%	0.97%	Reduced -614	-614 -0.1%
12	EQV VENTURES AC CORP. II ORD SHS CL A EVAC	EVAC	910,862	$9.3m0.70%	0.70%	Unchanged
13	COINBASE GLOBAL INC NOTE 0.250% 4/0 · principal COIN 0.25 04.01.30 · principal	COIN 0.25 04.01.30	10,000,000	$9.0m0.68%	0.68%	Added +4.0m	+4,000,000 66.7%
14	SNOWFLAKE INC NOTE 10/0 · principal SNOW 0 10.01.29 · principal	SNOW 0 10.01.29	5,000,000	$8.8m0.67%	0.67%	New
15	CH4 NATURAL SOLUTIONS CORP UNIT 99/99/9999 MTNE.U	MTNE.U	798,500	$8.0m0.61%	0.61%	New
16	MESHFLOW ACQUISITION CORP USD CL A ORD SHS MESH	MESH	775,000	$7.8m0.59%	0.59%	Unchanged
17	WEN ACQUISITION CORP COM CL A WENN	WENN	742,039	$7.6m0.58%	0.58%	Added +5.8k	+5,800 0.8%
18	ALDABRA 4 LQDTY OPP VEH INC CL A ORD SHS ALOV	ALOV	750,000	$7.5m0.57%	0.57%	Unchanged
19	AKAMAI TECHNOLOGIES INC NOTE 0.250% 5/1 · principal AKAM 0.25 05.15.33 · principal	AKAM 0.25 05.15.33	5,000,000	$7.3m0.55%	0.55%	New
20	HCM III ACQUISITION CORP ORD SHS CL A HCMA	HCMA	703,404	$7.2m0.55%	0.55%	Unchanged
21	EVOLUTION GLOBAL ACQUISITION USD CL A ORD SHS EVOX	EVOX	720,988	$7.2m0.55%	0.55%	Unchanged
22	SIDDHI ACQUISITION CORP CL A SHS SDHI	SDHI	693,837	$7.2m0.55%	0.55%	Unchanged
23	JACKSON ACQUISITION CO II COM SHS CL A JACS	JACS	675,001	$7.2m0.55%	0.55%	Unchanged
24	ARTIUS II ACQUISITION INC SHS CL A SHS CL A		678,671	$7.1m0.54%	0.54%	Unchanged
25	CSLM DIGITA ASSET ACQ CORP I USD CL A ORD SHS KOYN	KOYN	701,739	$7.1m0.54%	0.54%	Unchanged
26	K&F GROWTH ACQUISITION CORP SHS CL A KFII	KFII	671,808	$7.1m0.54%	0.54%	Unchanged
27	NEW PROVIDENCE ACQUISITION C USD CL A ORD SHS NPAC	NPAC	665,376	$6.9m0.53%	0.53%	Unchanged
28	GORES HLDGS X INC SHS CL A GTEN	GTEN	657,563	$6.9m0.52%	0.52%	Reduced -500	-500 -0.1%
29	SOULPOWER ACQUISITION CORP USD CL A ORD SHS SOUL	SOUL	655,635	$6.8m0.52%	0.52%	Unchanged
30	APEX TREAS CORP ORD SHS CL A APXT	APXT	675,000	$6.8m0.52%	0.52%	Unchanged
31	ALUSSA ENERGY ACQUISIT CORP ORD SHS CL A ALUB	ALUB	675,000	$6.8m0.52%	0.52%	Unchanged
32	M3-BRIGADE ACQUISITION VI CO ORD SHS CL A MBVI	MBVI	668,807	$6.8m0.52%	0.52%	Added +30.0k	+29,964 4.7%
33	TRAILBLAZER ACQUISITION CORP ORD SHS CL A BLZR	BLZR	662,271	$6.7m0.51%	0.51%	Added +22.3k	+22,300 3.5%
34	BTC DEV CORP ORD SHS CL A BDCI	BDCI	653,362	$6.6m0.50%	0.50%	Added +2.0k	+2,042 0.3%
35	GIGCAPITAL8 CORP ORD CL A GIW	GIW	650,000	$6.5m0.50%	0.50%	Unchanged
36	TITAN ACQUISITION CORP CL A TACH	TACH	625,012	$6.5m0.49%	0.49%	Added +2	+2 0.0%
37	PIONEER ACQUISITION I CORP CL A ORD SHS PACH	PACH	629,549	$6.4m0.49%	0.49%	Added +302	+302 0.1%
38	CRANE HBR ACQUISITION CORP I ORD SHS CL A CRAN	CRAN	633,764	$6.4m0.49%	0.49%	Added +53.5k	+53,498 9.2%
39	OYSTER ENTERPRISES II ACQUIS ORD SHS CL A OYSE	OYSE	623,742	$6.4m0.49%	0.49%	Added +1	+1 0.0%
40	GSR IV ACQUISITION CORP CL A SHS GSRF	GSRF	629,669	$6.4m0.49%	0.49%	Added +2	+2 0.0%
41	OXLEY BRIDGE ACQ LTD USD CL A ORD SHS OBA	OBA	625,296	$6.4m0.49%	0.49%	Unchanged
42	SILVERBOX CORP V ORD SHS CL A SBXE	SBXE	635,093	$6.4m0.49%	0.49%	Unchanged
43	COHEN CIRCLE ACQUISIT CORP I SHS CL A CCII	CCII	618,077	$6.4m0.48%	0.48%	Added +1.5k	+1,500 0.2%
44	CLOUDFLARE INC NOTE 6/1 · principal NET 0 06.15.30 · principal	NET 0 06.15.30	5,000,000	$6.3m0.48%	0.48%	New
45	CANTOR EQUITY PARTNERS IV IN SHS CL A CEPF	CEPF	603,106	$6.3m0.48%	0.48%	Added +2.5k	+2,538 0.4%
46	LAFAYETTE DIGITAL ACQUISITIO ORD CLASS A ZKP	ZKP	615,000	$6.1m0.47%	0.47%	Unchanged
47	IRON HORSE ACQUISIT II CORP COM IRHO	IRHO	607,182	$6.1m0.46%	0.46%	Unchanged
48	GORES HOLDINGS XI INC UNIT 06/24/2031 GHXIU	GHXIU	600,000	$6.1m0.46%	0.46%	New
49	CLEARTHINK 1 ACQUISITION COR ORD SHS CL A CTAA	CTAA	610,000	$6.0m0.46%	0.46%	New
50	PROCAP ACQUISITION CORP SHS CL A PCAP	PCAP	586,055	$6.0m0.46%	0.46%	Added +52.7k	+52,693 9.9%
51	AMERICAN DRIVE ACQUISITION C USD CL A ORD SHS ADAC	ADAC	600,000	$6.0m0.46%	0.46%	Unchanged
52	LAUNCHPAD CADENZA ACQU CORP USD CL A ORD SHS LPCV	LPCV	600,000	$6.0m0.46%	0.46%	Unchanged
53	COPLEY ACQUISITION CORP ORD SHS CL A COPL	COPL	572,786	$6.0m0.45%	0.45%	Unchanged
54	TRG LATIN AMER ACQUIS CORP CL A ORD SHS TRGS	TRGS	600,000	$5.9m0.45%	0.45%	New
55	KRAKACQUISITION CORPORATION CL A ORD SHS KRAQ	KRAQ	587,686	$5.9m0.45%	0.45%	Added +25.1k	+25,119 4.5%
56	KOCHAV DEFENSE ACQUI CO SHS CL A KCHV	KCHV	566,346	$5.9m0.45%	0.45%	Unchanged
57	ETSY INC NOTE 1.000% 6/1 · principal ETSY 1 06.15.30 · principal	ETSY 1 06.15.30	5,000,000	$5.8m0.44%	0.44%	New
58	DRUGS MADE IN AMER ACQ II CO USD ORD SHS DMII	DMII	575,721	$5.8m0.44%	0.44%	Unchanged
59	LIGHTWAVE ACQUISITION CORP USD CL A ORD SHS LWAC	LWAC	564,260	$5.8m0.44%	0.44%	Added +100	+100 0.0%
60	AGRICULTURE & NAT SOL ACQ CO SHS CL A SHS CL A		504,238	$5.8m0.44%	0.44%	Added +100.0k	+100,000 24.7%
61	X3 ACQUISITION CORP LTD ORD SHS CL A XCBE	XCBE	575,599	$5.8m0.44%	0.44%	Unchanged
62	JENA ACQUISITION CORP II USD CL A ORD SHS JENA	JENA	551,139	$5.7m0.43%	0.43%	Added +17.5k	+17,467 3.3%
63	HIGHVIEW MERGER CORP ORD SH CL A HVMC	HVMC	556,664	$5.7m0.43%	0.43%	Added +14.1k	+14,053 2.6%
64	TALON CAP CORP ORD SHS CL A TLNC	TLNC	545,386	$5.6m0.43%	0.43%	Added +15.0k	+15,001 2.8%
65	CAL REDWOOD ACQUISITION CORP COM CL A CRAQ	CRAQ	545,628	$5.6m0.43%	0.43%	Unchanged
66	REPUBLIC DIGITAL ACQUISITION USD CL A ORD SHS RDAG	RDAG	543,393	$5.6m0.43%	0.43%	Added +227.6k	+227,633 72.1%
67	AXIOM INTELLIGENCE AC CORP 1 ORD SHS CL A AXIN	AXIN	541,826	$5.6m0.43%	0.43%	Reduced -7.9k	-7,932 -1.4%
68	GIGCAPITAL9 CORP CL A GIX	GIX	562,803	$5.6m0.42%	0.42%	Added +689	+689 0.1%
69	COLOMBIER ACQUISITION CORP I ORD SHS CL A CLBR	CLBR	544,639	$5.6m0.42%	0.42%	Added +29.1k	+29,139 5.7%
70	OTG ACQUISITION CORP. I ORD CL A OTGA	OTGA	550,000	$5.6m0.42%	0.42%	Unchanged
71	BITCOIN INFRASTRUCTURE ACQUI USD CL A ORD SHS BIXI	BIXI	556,079	$5.6m0.42%	0.42%	Unchanged
72	HARVARD AVE ACQUISITION CORP USD CL A ORD SHS HAVA	HAVA	550,000	$5.6m0.42%	0.42%	Unchanged
73	FACT II ACQUISITION CORP ORD SHS CL A FACT	FACT	521,872	$5.5m0.42%	0.42%	Reduced -917	-917 -0.2%
74	ROMAN DBDR ACQUISITION CORP ORD SHS CL A DRDB	DRDB	525,266	$5.5m0.42%	0.42%	Unchanged
75	HALL CHADWICK ACQUISITION CO ORD SHS CL A HCAC	HCAC	550,000	$5.5m0.42%	0.42%	Unchanged
76	BOLD EAGLE ACQUISITION CORP CL A BEAG	BEAG	516,815	$5.5m0.42%	0.42%	Added +18.0k	+17,970 3.6%
77	INVEST GREEN ACQUISITION COR CL A ORD SHS IGAC	IGAC	550,000	$5.5m0.42%	0.42%	Unchanged
78	GENERAL PURP ACQUISITION COR USD CL A ORD SHS GPAC	GPAC	550,000	$5.5m0.42%	0.42%	Unchanged
79	MICROCHIP TECHNOLOGY INC. NOTE 0.750% 6/0 · principal MCHP 0.75 06.01.30 · principal	MCHP 0.75 06.01.30	5,000,000	$5.5m0.42%	0.42%	Unchanged
80	HENNESSY CAP INVT CORP VII ORD SHS CL A ONEN	ONEN	525,544	$5.5m0.42%	0.42%	Unchanged
81	EGH ACQUISITION CORP. SHS CL A EGHA	EGHA	532,637	$5.5m0.42%	0.42%	Unchanged
82	FUTURECREST ACQUISITION CORP CL A ORD SHS FCRS	FCRS	531,949	$5.5m0.42%	0.42%	Added +114.9k	+114,908 27.6%
83	CAMBRIDGE ACQUISITION CORP USD CL A ORD SHS CAQ	CAQ	550,000	$5.5m0.41%	0.41%	Unchanged
84	NEWHOLD INVT CORP III ORD SHS CL A ORD SHS CL A		499,640	$5.4m0.41%	0.41%	Reduced -61.3k	-61,331 -10.9%
85	PERIMETER ACQUISITION CORP I COM CL A PMTR	PMTR	521,525	$5.4m0.41%	0.41%	Added +183.0k	+182,991 54.0%
86	INSIGHT DIGITAL PARTNERS II CL A ORD DYOR	DYOR	540,906	$5.4m0.41%	0.41%	Added +362	+362 0.1%
87	THAYER VENTURES ACQ CORP II CL A TVAI	TVAI	525,000	$5.4m0.41%	0.41%	Unchanged
88	SIZZLE ACQUISITION CORP. II USD CL A ORD SHS SZZL	SZZL	517,768	$5.4m0.41%	0.41%	Added +80	+80 0.0%
89	ITHAX ACQUISITION CORP III USD CL A ORD SHS ITHA	ITHA	525,887	$5.2m0.40%	0.40%	Unchanged
90	ARCHIMEDES TECH SPAC PARTNER ORD SHS ORD SHS		478,061	$5.2m0.39%	0.39%	Reduced -183.3k	-183,276 -27.7%
91	ANDRETTI ACQUISITION CORP II ORD SHS CL A POLE	POLE	478,678	$5.1m0.39%	0.39%	Unchanged
92	VIKING ACQUISITION CORP I ORD CL A NSTR	NSTR	501,616	$5.1m0.39%	0.39%	Reduced -73.4k	-73,384 -12.8%
93	M EVO GBL ACQUISITION CORP I ORD SHS CL A MEVO	MEVO	514,190	$5.1m0.39%	0.39%	Added +14.2k	+14,190 2.8%
94	ARCHIMEDES TECH SPAC PTNRS I ORD SHS ARCI	ARCI	504,673	$5.1m0.38%	0.38%	Added +90.4k	+90,376 21.8%
95	DROPBOX INC NOTE 3/0 · principal DBX 0 03.01.28 · principal	DBX 0 03.01.28	5,000,000	$5.0m0.38%	0.38%	Unchanged
96	EMMIS ACQUISITION CORP. SHS CL A EMIS	EMIS	499,126	$5.0m0.38%	0.38%	Unchanged
97	VINE HILL CAP INVTS CORP II CL A VHCP	VHCP	504,364	$5.0m0.38%	0.38%	Added +139.7k	+139,704 38.3%
98	TAILWIND 2.0 ACQUISITION COR ORD SHS CL A TDWD	TDWD	501,148	$5.0m0.38%	0.38%	Added +20.0k	+20,002 4.2%
99	SAFEGUARD ACQUISITION CORP CL A ORD SHS SAC	SAC	500,000	$5.0m0.38%	0.38%	Unchanged
100	KEYSTONE ACQUISITION CORP UNIT 05/28/2031 KEYYU	KEYYU	499,900	$5.0m0.38%	0.38%	New

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
COINBASE GLOBAL INC COIN 0.5 06.01.26	COIN 0.5 06.01.26	56,258,000	$55.8m56.3m shares
BANDWIDTH INC BAND 0.5 04.01.28	BAND 0.5 04.01.28	22,304,000	$19.9m22.3m shares
UNITY SOFTWARE INC U 0 11.15.26	U 0 11.15.26	17,181,000	$16.7m17.2m shares
TOPGOLF CALLAWAY BRANDS CORP CALY 2.75 05.01.26	CALY 2.75 05.01.26	14,500,000	$14.5m14.5m shares
TRIPADVISOR INC TRIP 0.25 04.01.26	TRIP 0.25 04.01.26	8,250,000	$8.2m8.2m shares
BILL HOLDINGS INC BILL 0 04.01.27	BILL 0 04.01.27	7,302,000	$7.0m7.3m shares
GP-ACT III ACQUISITION CORP GPAT	GPAT	623,267	$6.8m623.3k shares
LIVE OAK ACQUISITION CORP V TMS	TMS	590,384	$6.1m590.4k shares
CARTESIAN GROWTH CORP III FAC	FAC	595,296	$6.1m595.3k shares
CLEARTHINK 1 ACQUISITION COR CTAAU	CTAAU	610,000	$6.1m610.0k shares
TRG LATIN AMER ACQUIS CORP TRGSU	TRGSU	600,000	$6.0m600.0k shares
SNOWFLAKE INC SNOW 0 10.01.27	SNOW 0 10.01.27	5,000,000	$5.9m5.0m shares
SIM ACQUISITION CORP. I SIMA	SIMA	539,443	$5.8m539.4k shares
DRUGS MADE IN AMER ACQUTN CO DMAA	DMAA	546,808	$5.7m546.8k shares
CENTURION ACQUISITION CORP ALF	ALF	501,086	$5.4m501.1k shares
ILLUMINATION ACQUISITIO CORP ILLUU	ILLUU	499,161	$5.0m499.2k shares
MELAR ACQUISITION CORP. I MACI	MACI	426,939	$4.6m426.9k shares
KENSINGTON CAP ACQUIST CORP KCAC.U	KCAC.U	431,000	$4.3m431.0k shares
STRATEGY INC MSTR 0 12.01.29	MSTR 0 12.01.29	5,000,000	$4.1m5.0m shares
REAL ASSET ACQUISITION CORP		385,249	$4.0m385.2k shares
KPET ULTRA PACELINE CORP KPET.U	KPET.U	400,000	$4.0m400.0k shares
PENN ENTERTAINMENT INC PENN 2.75 05.15.26	PENN 2.75 05.15.26	4,000,000	$4.0m4.0m shares
ARRAY TECHNOLOGIES INC ARRY 1 12.01.28	ARRY 1 12.01.28	4,380,000	$4.0m4.4m shares
LEGATO MERGER CORP III		349,810	$3.8m349.8k shares
LIONHEART HOLDINGS CUB	CUB	345,241	$3.7m345.2k shares