MMCAP International Inc. SPC

GRAND CAYMAN, E9 · CIK 1304857 · 13F filing filed 2026-08-14

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

$1.2bn reported value +1.8% vs Q1 2026

303positions

28.1%in top 10

124 new 9 added 15 reduced 65 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	ARIS MNG CORP COM ARIS	ARIS	6,830,759	$101.8m8.63%	8.63%	Reduced -984.4k	-984,383 -12.6%
2	ALGOMA STL GROUP INC COM ASTL	ASTL	10,954,738	$44.4m3.76%	3.76%	Reduced -1.9m	-1,890,884 -14.7%
3	CHURCHILL CAP CORP XII CL A ORD SHS CXII	CXII	2,700,000	$28.8m2.44%	2.44%	New
4	DRUGS MADE IN AMER ACQ II CO USD ORD SHS DMII	DMII	2,700,000	$27.2m2.30%	2.30%	Unchanged
5	NEXGEN ENERGY LTD COM NXE	NXE	2,694,352	$25.3m2.14%	2.14%	Added +264.5k	+264,454 10.9%
6	CARTESIAN GROWTH CORP IV UNIT 06/08/2031 CGCFU	CGCFU	2,350,000	$23.5m1.99%	1.99%	New
7	NEW PROVIDENCE ACQUISITION C USD CL A ORD SHS NPAC	NPAC	2,200,000	$22.8m1.94%	1.94%	Unchanged
8	INFLECTION PT ACQUISIT CORP CL A ORD SHS IPFX	IPFX	1,931,762	$20.0m1.69%	1.69%	New
9	FIFTH ERA ACQUISITION CORP I ORD SHS CL A FERA	FERA	1,900,000	$19.8m1.68%	1.68%	Unchanged
10	TRANSALTA CORP COM TAC	TAC	1,310,100	$18.1m1.54%	1.54%	New
11	FUTURECORP SPACE ACQUISITION UNIT 99/99/9999 FTRA.U	FTRA.U	1,750,000	$17.7m1.50%	1.50%	New
12	MOZAYYX ACQUISITION CORP ORD CL A MZYX	MZYX	1,750,000	$17.4m1.48%	1.48%	New
13	IDEA ACQUISITION CORP ORD SHS CL A IACO	IACO	1,750,000	$17.3m1.47%	1.47%	New
14	INTERPRIVATE INVTS PARTNERS UNIT 05/27/2031 IPVVU	IPVVU	1,700,000	$16.9m1.43%	1.43%	New
15	CHURCHILL CAP CORP XI CL A ORD SHS CCXI	CCXI	950,474	$16.6m1.41%	1.41%	New
16	CARDIOL THERAPEUTICS INC COM CL A CRDL	CRDL	15,598,560	$16.5m1.40%	1.40%	Added +246.2k	+246,243 1.6%
17	REPUBLIC DIGITAL ACQUISITION USD CL A ORD SHS RDAG	RDAG	1,565,000	$16.2m1.37%	1.37%	Unchanged
18	LAUNCH ONE ACQUISITION CORP SHS CLASS A LPAA	LPAA	1,480,000	$16.0m1.36%	1.36%	Unchanged
19	CANTOR EQUITY PARTNERS IV IN SHS CL A CEPF	CEPF	1,500,000	$15.6m1.32%	1.32%	Unchanged
20	IRON HORSE ACQUISIT II CORP COM IRHO	IRHO	1,500,000	$15.0m1.28%	1.28%	New
21	MESHFLOW ACQUISITION CORP USD CL A ORD SHS MESH	MESH	1,500,000	$15.0m1.27%	1.27%	New
22	WILCO 63 CORP UNIT 05/29/2031 WLCOU	WLCOU	1,500,000	$14.9m1.27%	1.27%	New
23	QDRO ACQUISITION CORP ORD SHS CL A QADR	QADR	1,500,000	$14.9m1.26%	1.26%	New
24	APTIV PLC COM SHS APTV	APTV	240,889	$14.8m1.25%	1.25%	Added +7.8k	+7,797 3.4%
25	INFLECTION PT ACQUISITION CO CL A ORD SHS CL A ORD SHS		1,400,000	$14.5m1.23%	1.23%	Unchanged
26	HCM IV ACQUISITION CORP ORD USD CL A HACQ	HACQ	1,400,000	$14.0m1.19%	1.19%	New
27	GP-ACT III ACQUISITION CORP CL A GPAT	GPAT	1,275,000	$13.9m1.17%	1.17%	Unchanged
28	CANTOR EQUITY PARTNERS VII I CL A ORD SHS CAES	CAES	1,350,000	$13.6m1.15%	1.15%	New
29	CANTOR EQUITY PARTNERS V INC SHS CL A S CEPV	CEPV	1,200,000	$12.4m1.05%	1.05%	Unchanged
30	WEN ACQUISITION CORP COM CL A WENN	WENN	1,200,000	$12.3m1.05%	1.05%	Unchanged
31	ALDABRA 4 LQDTY OPP VEH INC CL A ORD SHS ALOV	ALOV	1,200,000	$11.9m1.01%	1.01%	New
32	GENERAL MTRS CO COM GM	GM	150,635	$11.6m0.98%	0.98%	Added +16.6k	+16,619 12.4%
33	CLEANCORE SOLUTIONS INC CLASS B COM SHS ZONE	ZONE	13,950,444	$11.4m0.97%	0.97%	Reduced -2.9m	-2,917,169 -17.3%
34	M3-BRIGADE ACQUISITION VI CO ORD SHS CL A MBVI	MBVI	1,100,000	$11.1m0.94%	0.94%	Unchanged
35	MERCADOLIBRE INC COM MELI	MELI	6,298	$10.7m0.91%	0.91%	New
36	SILVERBOX CORP IV SHS CL A SBXDF	SBXDF	980,000	$10.6m0.90%	0.90%	Unchanged
37	LIONHEART HOLDINGS SHS CL A CUB	CUB	980,000	$10.6m0.89%	0.89%	Unchanged
38	UNITED ACQUISITION CORP I ORD SHS CL A UAC	UAC	1,050,000	$10.4m0.88%	0.88%	New
39	FUTURECREST ACQUISITION CORP CL A ORD SHS FCRS	FCRS	1,000,000	$10.3m0.87%	0.87%	Unchanged
40	HCM III ACQUISITION CORP ORD SHS CL A HCMA	HCMA	1,000,000	$10.3m0.87%	0.87%	Unchanged
41	SEA LTD SPONSORD ADS SE	SE	106,638	$10.2m0.87%	0.87%	New
42	STMICROELECTRONICS N V NY REGISTRY STM	STM	135,542	$10.2m0.86%	0.86%	Reduced -174.4k	-174,383 -56.3%
43	GORES HOLDINGS XI INC UNIT 06/24/2031 GHXIU	GHXIU	1,000,000	$10.2m0.86%	0.86%	New
44	TRAILBLAZER ACQUISITION CORP ORD SHS CL A BLZR	BLZR	1,000,000	$10.1m0.86%	0.86%	Unchanged
45	AMERICAN DRIVE ACQUISITION C USD CL A ORD SHS ADAC	ADAC	1,000,000	$10.0m0.85%	0.85%	New
46	LAUNCHPAD CADENZA ACQU CORP USD CL A ORD SHS LPCV	LPCV	1,000,000	$10.0m0.85%	0.85%	New
47	RMG ML SPORTS HOLDINGS UNIT 06/05/2031 SHOTU	SHOTU	925,000	$9.2m0.78%	0.78%	New
48	DENISON MINES CORP COM DNN	DNN	2,857,531	$8.7m0.74%	0.74%	Unchanged
49	SNAP INC CL A SNAP	SNAP	1,958,828	$8.7m0.74%	0.74%	Unchanged
50	SNOW ROTHSCHILD ACQUISITION UNIT 05/22/2031 ISNRU	ISNRU	850,000	$8.5m0.72%	0.72%	New
51	ITHAX ACQUISITION CORP III USD CL A ORD SHS ITHA	ITHA	800,000	$8.0m0.68%	0.68%	New
52	AEON ACQUISITION I CORP UNIT 01/30/2031 AESPU	AESPU	778,500	$7.9m0.67%	0.67%	New
53	SUI GROUP HOLDINGS LIMITED COM NEW SUIG	SUIG	6,750,751	$7.8m0.66%	0.66%	Added +100.0k	+100,000 1.5%
54	PIONEER ACQUISITION I CORP CL A ORD SHS PACH	PACH	750,000	$7.7m0.65%	0.65%	Unchanged
55	OXLEY BRIDGE ACQ LTD USD CL A ORD SHS OBA	OBA	750,000	$7.7m0.65%	0.65%	Unchanged
56	NEWHOLD INVT CORP III ORD SHS CL A ORD SHS CL A		700,000	$7.6m0.65%	0.65%	Added +500.0k	+500,000 250.0%
57	SILVERBOX CORP V ORD SHS CL A SBXE	SBXE	750,000	$7.5m0.64%	0.64%	New
58	D BORAL ACQUISITION I CORP ORD SHS CL A DBCA	DBCA	750,000	$7.5m0.63%	0.63%	New
59	AMERICAN EXCEPTIONALISM ACQU ORD CL A AEXA	AEXA	631,494	$7.5m0.63%	0.63%	Unchanged
60	GORES HLDGS X INC SHS CL A GTEN	GTEN	700,000	$7.3m0.62%	0.62%	Unchanged
61	CRANE HBR ACQUISITION CORP I ORD SHS CL A CRAN	CRAN	650,000	$6.6m0.56%	0.56%	Unchanged
62	ANDRETTI ACQUISITION CORP II ORD SHS CL A POLE	POLE	580,000	$6.2m0.53%	0.53%	Unchanged
63	CO2 ENERGY TRANSITION CORP COM NOEM	NOEM	590,000	$6.2m0.52%	0.52%	Unchanged
64	1RT ACQUISITION CORP. USD CL A ORD SHS ONCH	ONCH	600,000	$6.2m0.52%	0.52%	Unchanged
65	SPRING VY ACQUISITION CORP I ORD SHS CL A SVIV	SVIV	600,000	$6.1m0.52%	0.52%	New
66	IRIS ACQUISITION CORP II ORD SHS CL A IRAB	IRAB	600,000	$6.0m0.51%	0.51%	New
67	JUMIA TECHNOLOGIES AG SPONSORED ADS JMIA	JMIA	811,535	$5.7m0.49%	0.49%	New
68	ALIBABA GROUP HLDG LTD SPONSORED ADS BABA	BABA	58,962	$5.7m0.48%	0.48%	New
69	MOSAIC CO NEW COM MOS	MOS	257,538	$5.5m0.46%	0.46%	Added +91.6k	+91,565 55.2%
70	LAUNCH TWO ACQUISITION CORP. ORD SHS CL A LPBB	LPBB	480,000	$5.1m0.44%	0.44%	Unchanged
71	FIGX CAP ACQUISITION CORP. USD CL A ORD SHS FIGX	FIGX	500,000	$5.1m0.43%	0.43%	Unchanged
72	MOUNTAIN LAKE ACQUISIT CORP USD CL A ORD SHS MLAA	MLAA	500,000	$5.0m0.42%	0.42%	New
73	CAMBRIDGE ACQUISITION CORP USD CL A ORD SHS CAQ	CAQ	500,000	$5.0m0.42%	0.42%	New
74	NEWBURY STR II ACQUISITION C ORD SHS CL A NTWO	NTWO	450,000	$4.8m0.41%	0.41%	Unchanged
75	VERSIGENT PLC ORDINARY SHARES VGNT	VGNT	113,680	$4.8m0.40%	0.40%	New
76	PROFOUND MED CORP COM NEW PROF	PROF	671,356	$4.5m0.38%	0.38%	Reduced -73.8k	-73,796 -9.9%
77	CANTOR EQUITY PARTNERS VI IN CL A ORD SHS CEPS	CEPS	400,000	$4.1m0.35%	0.35%	Unchanged
78	TWELVE SEAS INVT CO III ORD SHS CL A TWLV	TWLV	400,000	$4.0m0.34%	0.34%	Unchanged
79	BLUEROCK ACQUISITION CORP USD CL A ORD SHS BLRK	BLRK	400,000	$4.0m0.34%	0.34%	New
80	M EVO GBL ACQUISITION CORP I ORD SHS CL A MEVO	MEVO	400,000	$4.0m0.34%	0.34%	New
81	SHARPLINK INC COM NEW SBET	SBET	807,600	$3.9m0.33%	0.33%	Unchanged
82	AUTONATION INC COM AN	AN	19,718	$3.7m0.31%	0.31%	New
83	KEEL INFRASTRUCTURE CORP COM SHS KEEL	KEEL	635,000	$3.6m0.31%	0.31%	New
84	JAB ACQUISITION CORP I UNIT 06/05/2031 ATLQU	ATLQU	350,000	$3.5m0.30%	0.30%	New
85	ART TECHNOLOGY ACQUISITION C USD CL A ORD SHS ARTC	ARTC	352,300	$3.5m0.30%	0.30%	New
86	BHAV ACQUISITION CORP CL A ORD SHS BHAV	BHAV	350,000	$3.5m0.29%	0.29%	New
87	STELLANTIS N.V SHS STLA	STLA	550,000	$3.2m0.27%	0.27%	New
88	COLUMBUS CIRCLE CAP CORP II USD CL A ORD SHS IPXG	IPXG	300,000	$3.0m0.26%	0.26%	New
89	YORKVILLE INTL CAP CORP UNIT 06/05/2031 YICCU	YICCU	300,000	$3.0m0.26%	0.26%	New
90	ARCHIMEDES TECH SPAC PTNRS I ORD SHS ARCI	ARCI	300,000	$3.0m0.25%	0.25%	New
91	SOCIAL COMM PARTNERS CORP ORD SHS CL A SCPQ	SCPQ	300,000	$3.0m0.25%	0.25%	New
92	MUZERO ACQUISITION CORP CL A ORD SHS MUZE	MUZE	300,000	$3.0m0.25%	0.25%	New
93	INFLEQTION INC *W EXP 02/17/203 INFQ.WS	INFQ.WS	430,970	$3.0m0.25%	0.25%	Unchanged
94	STELLAR V CAP CORP SHS CL A SVCC	SVCC	280,000	$3.0m0.25%	0.25%	Unchanged
95	CRONOS GROUP INC COM CRON	CRON	999,490	$2.8m0.24%	0.24%	Unchanged
96	WORTHINGTON STL INC COM SHS WS	WS	82,622	$2.8m0.24%	0.24%	New
97	BLUE ACQUISITION CORP. ORD SHS CL A BACC	BACC	250,000	$2.6m0.22%	0.22%	Unchanged
98	LIGHTWAVE ACQUISITION CORP USD CL A ORD SHS LWAC	LWAC	250,000	$2.6m0.22%	0.22%	Unchanged
99	RANGE CAP ACQUISITION CORP I CL A ORD SHS RNGT	RNGT	250,000	$2.5m0.21%	0.21%	Unchanged
100	X3 ACQUISITION CORP LTD ORD SHS CL A XCBE	XCBE	250,000	$2.5m0.21%	0.21%	New

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
XANADU QUANTUM TECHNOLO LTD XNDU	XNDU	6,875,000	$48.1m6.9m shares
CHURCHILL CAP CORP XI CCXIU	CCXIU	2,700,000	$27.7m2.7m shares
MOZAYYX ACQUISITION CORP MZYX.U	MZYX.U	1,750,000	$17.4m1.8m shares
IDEA ACQUISITION CORP IACOU	IACOU	1,750,000	$17.3m1.8m shares
INFLECTION PT ACQUISIT CORP IPFXU	IPFXU	1,500,000	$15.2m1.5m shares
MESHFLOW ACQUISITION CORP MESHU	MESHU	1,500,000	$14.9m1.5m shares
IRON HORSE ACQUISIT CORP II IRHOU	IRHOU	1,500,000	$14.9m1.5m shares
QDRO ACQUISITION CORP QADRU	QADRU	1,500,000	$14.9m1.5m shares
HCM IV ACQUISITION CORP HACQU	HACQU	1,400,000	$14.0m1.4m shares
CARTESIAN GROWTH CORP III FAC	FAC	1,350,000	$13.8m1.4m shares
CENTURION ACQUISITION CORP ALF	ALF	1,175,000	$12.6m1.2m shares
ALDABRA 4 LQDTY OPP VEH INC ALOVU	ALOVU	1,200,000	$11.9m1.2m shares
SIM ACQUISITION CORP. I SIMA	SIMA	980,000	$10.5m980.0k shares
UNITED ACQUISITION CORP I UAC.U	UAC.U	1,050,000	$10.4m1.1m shares
HAYMAKER ACQUISITION CORP IV 2680812D	2680812D	900,000	$10.4m900.0k shares
LAUNCHPAD CADENZA ACQUISITIO LPCVU	LPCVU	1,000,000	$10.0m1.0m shares
AMERICAN DRIVE ACQUISITION C ADACU	ADACU	1,000,000	$10.0m1.0m shares
GRAF GLOBAL CORP TONT	TONT	830,000	$8.9m830.0k shares
POET TECHNOLOGIES INC POET	POET	1,494,038	$8.9m1.5m shares
ITHAX ACQUISITION CORP III ITHAU	ITHAU	800,000	$8.0m800.0k shares
CANTOR EQUITY PARTNERS III I CAEP	CAEP	750,000	$7.7m750.0k shares
SILVERBOX CORP V SBXE.U	SBXE.U	750,000	$7.6m750.0k shares
D BORAL ACQUISITION I CORP DBCAU	DBCAU	750,000	$7.5m750.0k shares
SPRING VY ACQUISITION CORP I SVIVU	SVIVU	600,000	$6.1m600.0k shares
IRIS ACQUISITION CORP II IRAB.U	IRAB.U	600,000	$6.0m600.0k shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on. The largest 25 of 30.

Company	Ticker	Stake	Change	Schedule	Last filed
CARDIOL THERAPEUTICS INC CRDL · 13G · filed 2026-08-14	CRDL	17.6%≈ $20.6m	-0.3 pts	13G	2026-08-14
ALGOMA STL GROUP INC ASTL · 13G · filed 2026-08-14	ASTL	10.4%≈ $44.4m	-1.8 pts	13G	2026-08-14
POET TECHNOLOGIES INC POET · 13G · filed 2026-08-14	POET	10.0%≈ $149.4m	-1.0 pts	13G	2026-08-14
UPEXI INC UPXI · 13G · filed 2026-02-13	UPXI	10.0%≈ $4.9m	no change	13G	2026-02-13
POLYRIZON LTD PLRZ · 13G · filed 2026-08-14	PLRZ	9.6%	+2.3 pts	13G	2026-08-14
UNITED ACQUISITION CORP I UAC.U · 13G · filed 2026-05-11	UAC.U	9.1%≈ $10.7m	+1.4 pts	13G	2026-05-11
CARTESIAN GROWTH CORP II RENEF · 13G · filed 2026-02-13	RENEF	9.1%	+2.9 pts	13G	2026-02-13
SUI GROUP HOLDINGS LIMITED SUIG · 13G · filed 2026-08-14	SUIG	8.8%≈ $7.8m	+0.1 pts	13G	2026-08-14
CARTESIAN GROWTH CORP IV CGCFU · 13G · filed 2026-07-02	CGCFU	8.5%≈ $23.5m	new	13G	2026-07-02
FIFTH ERA ACQUISITION CORP I FERA · 13G · filed 2026-02-13	FERA	8.1%≈ $19.8m	+1.1 pts	13G	2026-02-13
FIFTH ERA ACQUISITION CORP I FERAU · 13G · filed 2025-08-12	FERAU	8.1%	no change	13G	2025-08-12
AKARI THERAPEUTICS PLC AKTX · 13G · filed 2026-06-08	AKTX	8.0%	new	13G	2026-06-08
INFLECTION PT ACQUISIT CORP IPFX · 13G · filed 2026-08-14	IPFX	7.6%≈ $20.0m	+2.5 pts	13G	2026-08-14
QDRO ACQUISITION CORP QADR · 13G · filed 2026-08-14	QADR	7.5%≈ $14.9m	+1.5 pts	13G	2026-08-14
NEW PROVIDENCE ACQUISITION C NPAC · 13G · filed 2026-02-13	NPAC	7.1%≈ $22.8m	no change	13G	2026-02-13
INTERPRIVATE INVTS PARTNERS IPVVU · 13G · filed 2026-06-09	IPVVU	7.0%	new	13G	2026-06-09
FUTURECORP SPACE ACQUISITION FTRA.U · 13G · filed 2026-06-08	FTRA.U	6.5%≈ $17.7m	new	13G	2026-06-08
CHURCHILL CAP CORP XII CXIIU · 13G · filed 2026-05-05	CXIIU	6.5%≈ $29.2m	new	13G	2026-05-05
CHURCHILL CAP CORP XI CCXIU · 13G · filed 2026-05-11	CCXIU	6.4%	+0.6 pts	13G	2026-05-11
LAUNCH ONE ACQUISITION CORP LPAA · 13G · filed 2026-02-13	LPAA	6.4%≈ $16.0m	no change	13G	2026-02-13
CLEANCORE SOLUTIONS INC ZONE · 13G · filed 2026-08-14	ZONE	6.3%≈ $11.4m	-1.7 pts	13G	2026-08-14
CO2 ENERGY TRANSITION CORP NOEM · 13G · filed 2026-02-13	NOEM	6.3%≈ $2.7m		13G	2026-02-13
CO2 ENERGY TRANSITION CORP NOEMU · 13G · filed 2025-08-12	NOEMU	6.2%	no change	13G	2025-08-12
WILCO 63 CORP WLCOU · 13G · filed 2026-07-07	WLCOU	6.1%	new	13G	2026-07-07
MOZAYYX ACQUISITION CORP MZYX · 13G · filed 2026-08-14	MZYX	5.8%≈ $17.4m	+0.4 pts	13G	2026-08-14