ATW SPAC MANAGEMENT LLC

NEW YORK, NY · CIK 1878495 · 13F filing filed 2025-11-12

SEC-registered investment adviser since 2021 · limited liability company

Assets managed$85.4m
Staff7 · 4 in investment roles
Main clients (by assets)Private funds 100%
Private funds1 (1 hedge)
Form ADV · 2026-04-24SEC adviser record

$79.2m reported value +21.4% vs Q2 2025

152positions

48.7%in top 10

54 new 0 added 15 reduced 26 sold out vs Q2 2025

Holdings, Q3 2025

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	AA MISSION ACQUISITION CORP ORD SHS CL A AAM	AAM	649,098	$6.8m8.62%	8.62%	Reduced -50.0k	-50,000 -7.2%
2	HORIZON SPACE ACQUISITION II ORD SHS ORD SHS		574,990	$6.0m7.52%	7.52%	Unchanged
3	DRUGS MADE IN AMER ACQUTN CO ORD SHS DMAA	DMAA	500,000	$5.1m6.48%	6.48%	Reduced -70.0k	-70,000 -12.3%
4	A SPAC III ACQUISITION CORP ORD SHS CL A ASPC	ASPC	389,100	$4.0m5.08%	5.08%	Unchanged
5	RISING DRAGON ACQUISITION CO SHS RDAC	RDAC	358,000	$3.7m4.70%	4.70%	Unchanged
6	CAYSON ACQUISITION CORP SHS CAPN	CAPN	306,703	$3.2m4.05%	4.05%	Unchanged
7	FUTURE VISION II ACQUISITION SHS FVN	FVN	289,614	$3.0m3.82%	3.82%	Unchanged
8	CHARLTON ARIA ACQUISITION CO ORD SHS CL A CHAR	CHAR	276,607	$2.9m3.62%	3.62%	Reduced -28.3k	-28,283 -9.3%
9	GSR IV ACQUISITION CORP UNIT 08/22/2030 GSRFU	GSRFU	200,000	$2.0m2.56%	2.56%	New
10	OTG ACQUISITION CORP. I UNIT 09/05/2030 OTGAU	OTGAU	175,000	$1.8m2.22%	2.22%	New
11	EMMIS ACQUISITION CORP. UNIT 09/12/2030 UNIT 09/12/2030		175,000	$1.7m2.21%	2.21%	New
12	BEST SPAC I ACQUISITION CORP UNIT 05/27/2030 BSAAU	BSAAU	162,500	$1.7m2.08%	2.08%	Unchanged
13	TRAILBLAZER MERGER CORP I CL A TBMC	TBMC	133,434	$1.6m1.97%	1.97%	Unchanged
14	STARRY SEA ACQUISITION CORP UNIT 07/07/2030 SSEAU	SSEAU	150,000	$1.5m1.92%	1.92%	New
15	MCKINLEY ACQUISITION CORP UNIT 07/25/2030 MKLYU	MKLYU	150,000	$1.5m1.89%	1.89%	New
16	COHEN CIRCLE ACQUISIT CORP I SHS CL A CCII	CCII	139,420	$1.4m1.79%	1.79%	New
17	STONEBRIDGE ACQUISITION II C UNIT 09/09/2030 APACU	APACU	137,500	$1.4m1.73%	1.73%	New
18	BLACK HAWK ACQUISITION CORP USD CL A SHS BKHA	BKHA	119,999	$1.3m1.68%	1.68%	Reduced -178.0k	-178,029 -59.7%
19	A PARADISE ACQUISITION CORP UNIT 07/29/2030 UNIT 07/29/2030		125,000	$1.2m1.57%	1.57%	New
20	D. BORAL ARC ACQ I CORP. SHS CL A SHS CL A		122,588	$1.2m1.54%	1.54%	New
21	BLUE WTR ACQUISITION CORP. I ORD SHS CL A BLUW	BLUW	111,775	$1.1m1.41%	1.41%	New
22	COPLEY ACQUISITION CORP ORD SHS CL A COPL	COPL	102,500	$1.0m1.31%	1.31%	New
23	GLOBA TERRA ACQUISITION COR UNIT 99/99/9999 GTERU	GTERU	100,000	$1.0m1.28%	1.28%	New
24	SILVER PEGASUS ACQUISITION C UNIT 06/26/2030 SPEGU	SPEGU	100,000	$1.0m1.28%	1.28%	New
25	QUANTUMSPHERE ACQUISITION CO UNIT 07/30/2030 QUMSU	QUMSU	100,000	$1.0m1.28%	1.28%	New
26	AMERICAN EXCEPTIONALISM ACQU ORD CL A AEXA	AEXA	92,500	$1.0m1.28%	1.28%	New
27	CHENGHE ACQUISITION III CO UNIT 09/09/2030 CHECU	CHECU	100,000	$998.0k1.26%	1.26%	New
28	LIGHTWAVE ACQUISITION CORP USD CL A ORD SHS LWAC	LWAC	87,000	$865.6k1.09%	1.09%	New
29	PIONEER ACQUISITION I CORP CL A ORD SHS PACH	PACH	83,391	$830.6k1.05%	1.05%	New
30	BLUE ACQUISITION CORP. UNIT 06/02/2030 BACCU	BACCU	81,250	$819.8k1.03%	1.03%	Unchanged
31	ARTIUS II ACQUISITION INC SHS CL A SHS CL A		75,316	$766.7k0.97%	0.97%	Reduced -50.0k	-50,000 -39.9%
32	CANTOR EQUITY PARTNERS IV IN SHS CL A CEPF	CEPF	75,000	$763.9k0.96%	0.96%	New
33	BAIN CAP GSS INVT CORP UNIT 99/99/9999 BCSS.U	BCSS.U	75,000	$756.8k0.96%	0.96%	New
34	NMP ACQUISITION CORP CL A NMP	NMP	75,000	$744.8k0.94%	0.94%	New
35	TEXAS VENTURES ACQUISITION I USD CL A ORD SHS TVA	TVA	65,000	$696.1k0.88%	0.88%	New
36	COLUMBUS CIRCLE CAP CORP. I SHS CL A CCCM	CCCM	62,544	$632.9k0.80%	0.80%	Unchanged
37	OXLEY BRIDGE ACQ LTD USD CL A ORD SHS OBA	OBA	63,390	$631.3k0.80%	0.80%	New
38	GALATA ACQUISITION CORP II UNIT 09/12/2030 LATAU	LATAU	62,500	$623.8k0.79%	0.79%	New
39	BTC DEV CORP UNIT 09/11/2030 BDCIU	BDCIU	54,988	$555.4k0.70%	0.70%	New
40	INDIGO ACQUISITION CORP ORD SHS INAC	INAC	52,500	$523.4k0.66%	0.66%	New
41	SPRING VY ACQUISITION CORP I UNIT 09/04/2030 UNIT 09/04/2030		50,000	$514.0k0.65%	0.65%	New
42	HIGHVIEW MERGER CORP UNIT 07/24/2030 HVMCU	HVMCU	50,000	$506.0k0.64%	0.64%	New
43	M3-BRIGADE ACQUISITION VI CO UNIT 08/18/2030 MBVIU	MBVIU	50,000	$506.0k0.64%	0.64%	New
44	WINTERGREEN ACQUISITION CORP SHS WTG	WTG	50,000	$503.0k0.63%	0.63%	New
45	CAL REDWOOD ACQUISITION CORP COM CL A CRAQ	CRAQ	50,000	$500.0k0.63%	0.63%	Reduced -32.5k	-32,500 -39.4%
46	ARMADA ACQUISITION CORP II COM CL A COM CL A		47,500	$495.6k0.63%	0.63%	Reduced -87.5k	-87,500 -64.8%
47	REPUBLIC DIGITAL ACQUISITION USD CL A ORD SHS RDAG	RDAG	48,200	$492.1k0.62%	0.62%	Reduced -31.8k	-31,800 -39.8%
48	KOCHAV DEFENSE ACQUI CO SHS CL A KCHV	KCHV	47,000	$471.4k0.59%	0.59%	New
49	PYROPHYTE ACQUISITION CORP. UNIT 99/99/9999 PAII.U	PAII.U	40,000	$405.2k0.51%	0.51%	New
50	EQV VENTURES AC CORP. II ORD SHS CL A EVAC	EVAC	40,000	$398.0k0.50%	0.50%	New
51	K&F GROWTH ACQUISITION CORP SHS CL A KFII	KFII	38,190	$390.1k0.49%	0.49%	Reduced -25.6k	-25,600 -40.1%
52	DUNE ACQUISITION CORP II SHS CL A CCAQ	CCAQ	30,000	$303.3k0.38%	0.38%	Unchanged
53	HCM III ACQUISITION CORP UNIT 07/23/2030 HCMAU	HCMAU	25,000	$257.8k0.33%	0.33%	New
54	CSLM DIGITA ASSET ACQ CORP I UNIT 08/12/2030 KOYNU	KOYNU	25,000	$252.5k0.32%	0.32%	New
55	AXIOM INTELLIGENCE AC CORP 1 ORD SHS CL A AXIN	AXIN	25,000	$249.0k0.31%	0.31%	New
56	YORKVILLE ACQUISITION CORP. SHS CL A MCGA	MCGA	18,700	$199.3k0.25%	0.25%	New
57	CANTOR EQUITY PARTNERS III I SHS CL A CAEP	CAEP	16,667	$172.0k0.22%	0.22%	Reduced -33.3k	-33,333 -66.7%
58	CHURCHILL CAP CORP X SHS CL A INFQ	INFQ	10,000	$128.6k0.16%	0.16%	New
59	ALPHATIME ACQUISITION CORP RIGHT 03/01/2028 ATMCR	ATMCR	438,093	$124.4k0.16%	0.16%	Unchanged
60	DRUGS MADE IN AMER ACQUTN CO RIGHT 10/15/2029 DMAAR	DMAAR	570,000	$123.9k0.16%	0.16%	Unchanged
61	NEW HORIZON AIRCRAFT LTD *W EXP 99/99/999 HOVRW	HOVRW	272,160	$105.6k0.13%	0.13%	Reduced -86.4k	-86,400 -24.1%
62	QUETTA ACQUISITION CORP RIGHT 11/30/2024 QETAR	QETAR	52,348	$103.6k0.13%	0.13%	Unchanged
63	IRON HORSE ACQUISITIONS CORP RIGHT 99/99/9999 RIGHT 99/99/9999		138,745	$101.8k0.13%	0.13%	Reduced -195.3k	-195,275 -58.5%
64	AA MISSION ACQUISITION CORP W EXP 08/01/203 W EXP 08/01/203		602,500	$96.4k0.12%	0.12%	Unchanged
65	CO2 ENERGY TRANSITION CORP RIGHT 10/15/2028 NOEMR	NOEMR	375,000	$90.0k0.11%	0.11%	Unchanged
66	HORIZON SPACE ACQUISITION II RIGHT 03/30/2026 RIGHT 03/30/2026		574,990	$86.3k0.11%	0.11%	Unchanged
67	TRAILBLAZER MERGER CORP I RIGHT 04/21/2028 TBMCR	TBMCR	336,600	$84.2k0.11%	0.11%	Unchanged
68	A SPAC III ACQUISITION CORP RIGHT 01/02/2026 ASPCR	ASPCR	389,100	$74.2k0.09%	0.09%	Unchanged
69	ESGL HLDGS LTD *W EXP 10/19/202 OIOWW	OIOWW	620,000	$72.1k0.09%	0.09%	Unchanged
70	SIM ACQUISITION CORP. I *W EXP 06/01/203 SIMAW	SIMAW	186,121	$68.9k0.09%	0.09%	Unchanged
71	K&F GROWTH ACQUISITION CORP RIGHT 08/29/2031 KFIIR	KFIIR	432,000	$64.8k0.08%	0.08%	Unchanged
72	CO2 ENERGY TRANSITION CORP *W EXP 08/17/202 NOEMW	NOEMW	375,000	$63.4k0.08%	0.08%	Unchanged
73	EUREKA ACQUISITION CORP RIGHT 01/03/2026 EURKR	EURKR	258,457	$62.0k0.08%	0.08%	Unchanged
74	BITFUFU INC *W EXP 03/01/202 FUFUW	FUFUW	155,000	$62.0k0.08%	0.08%	Unchanged
75	DT CLOUD STAR ACQUISITION CO RIGHT 07/09/2029 DTSQR	DTSQR	408,079	$61.2k0.08%	0.08%	Unchanged
76	BLACK HAWK ACQUISITION CORP RIGHT 06/20/2025 BKHAR	BKHAR	35,374	$60.1k0.08%	0.08%	Unchanged
77	COLUMBUS CIRCLE CAP CORP. I W EXP 05/16/203 W EXP 05/16/203		50,000	$60.0k0.08%	0.08%	Unchanged
78	FG MERGER II CORP RIGHT 02/11/2030 RIGHT 02/11/2030		130,600	$54.9k0.07%	0.07%	Unchanged
79	AIFEEX NEXUS ACQUISITION COR RIGHT 12/31/2026 PGACR	PGACR	264,000	$52.8k0.07%	0.07%	Unchanged
80	FUTURE VISION II ACQUISITION RIGHT 06/29/2029 FVNNR	FVNNR	289,614	$52.1k0.07%	0.07%	Unchanged
81	GIGCAPITAL7 CORP *W EXP 08/29/202 HDRNW	HDRNW	111,000	$50.0k0.06%	0.06%	Unchanged
82	BAYVIEW ACQUISITION CORP RIGHT 99/99/9999 BAYAR	BAYAR	302,511	$48.4k0.06%	0.06%	Unchanged
83	ESTRELLA IMMUNOPHARMA INC COM ESLA	ESLA	40,000	$46.0k0.06%	0.06%	Unchanged
84	GRAF GLOBAL CORP *W EXP 05/31/203 TONT.WS	TONT.WS	132,475	$43.7k0.06%	0.06%	Unchanged
85	ESH ACQUISITION CORP RIGHT 99/99/9999 ESHAR	ESHAR	194,723	$43.3k0.05%	0.05%	Unchanged
86	DT CLOUD ACQUISITION CORP RIGHT 02/14/2029 DYCQR	DYCQR	226,800	$40.8k0.05%	0.05%	Unchanged
87	PONO CAP TWO INC *W EXP 07/31/202 SBCWW	SBCWW	180,629	$39.2k0.05%	0.05%	Unchanged
88	IB ACQUISITION CORP RIGHT 09/28/2025 IBACR	IBACR	462,793	$38.7k0.05%	0.05%	Unchanged
89	YHN ACQUISITION I LTD RIGHT 08/15/2029 YHNAR	YHNAR	233,000	$35.8k0.05%	0.05%	Unchanged
90	TEXAS VENTURES ACQUISITION I *W EXP 04/23/203 TVACW	TVACW	32,500	$35.8k0.05%	0.05%	New
91	ALPHATIME ACQUISITION CORP *W EXP 03/01/202 ATMCW	ATMCW	438,093	$31.2k0.04%	0.04%	Unchanged
92	ARTIUS II ACQUISITION INC RIGHT 11/27/2029 RIGHT 11/27/2029		125,316	$30.1k0.04%	0.04%	Unchanged
93	REAL MESSENGER CORP. *W EXP 11/19/202 RMSGW	RMSGW	484,100	$28.3k0.04%	0.04%	Unchanged
94	IRON HORSE ACQUISITIONS CORP *W EXP 99/99/999 UCFIW	UCFIW	278,320	$28.1k0.04%	0.04%	Reduced -55.7k	-55,700 -16.7%
95	COHEN CIRCLE ACQUISIT CORP I *W EXP 07/01/203 CCIIW	CCIIW	34,876	$27.9k0.04%	0.04%	New
96	GCL GLOBAL HLDGS LTD *W EXP 02/13/203 GCLWW	GCLWW	400,000	$27.9k0.04%	0.04%	Unchanged
97	REPUBLIC DIGITAL ACQUISITION *W EXP 05/01/203 RDAGW	RDAGW	40,000	$26.0k0.03%	0.03%	Unchanged
98	ARMADA ACQUISITION CORP II W EXP 05/21/203 W EXP 05/21/203		25,000	$23.7k0.03%	0.03%	Reduced -50.0k	-50,000 -66.7%
99	BLEICHROEDER ACQUISITION COR RIGHT 11/04/2026 BACQR	BACQR	34,430	$23.4k0.03%	0.03%	Unchanged
100	CHARLTON ARIA ACQUISITION CO RIGHT 12/31/2026 CHARR	CHARR	105,890	$22.7k0.03%	0.03%	Unchanged

Sold out since Q2 2025

Security	Ticker	Shares held before	Value then
EUREKA ACQUISITION CORP EURK	EURK	178,457	$1.9m178.5k shares
BLUE WTR ACQUISITION CORP. I BLUWU	BLUWU	160,000	$1.6m160.0k shares
PIONEER ACQUISITION I CORP PACHU	PACHU	150,000	$1.5m150.0k shares
COPLEY ACQUISITION CORP COPL.U	COPL.U	102,500	$1.0m102.5k shares
LIGHTWAVE ACQUISITION CORP LWACU	LWACU	87,000	$875.2k87.0k shares
OXLEY BRIDGE ACQ LTD OBAWU	OBAWU	87,000	$870.9k87.0k shares
AXIOM INTELLIGENCE AC CORP 1 AXINU	AXINU	75,000	$756.8k75.0k shares
FLAG SHIP ACQUISITION CORP FSHP	FSHP	67,830	$707.5k67.8k shares
TEXAS VENTURES ACQUISITION I TVACU	TVACU	65,000	$663.6k65.0k shares
YORKVILLE ACQUISITION CORP. MCGAU	MCGAU	50,000	$562.5k50.0k shares
WINTERGREEN ACQUISITION CORP WTGUU	WTGUU	50,000	$504.5k50.0k shares
EMBRACE CHANGE ACQUISITN COR EMCGF	EMCGF	41,211	$498.7k41.2k shares
KOCHAV DEFENSE ACQUI CO KCHVU	KCHVU	47,000	$478.2k47.0k shares
LAKESHORE ACQUISITION III CO LCCC	LCCC	42,300	$423.9k42.3k shares
DT CLOUD ACQUISITION CORP		29,750	$323.5k29.8k shares
CHURCHILL CAP CORP X CCCXU	CCCXU	25,000	$257.5k25.0k shares
FG MERGER II CORP		14,848	$146.7k14.8k shares
JVSPAC ACQUISITION CORP		80,096	$69.7k80.1k shares
GCL GLOBAL HLDGS LTD GCL	GCL	20,000	$66.2k20.0k shares
DISTOKEN ACQUISITION CORP		151,200	$43.8k151.2k shares
EMBRACE CHANGE ACQUISITN COR		346,875	$39.6k346.9k shares
ECD AUTOMOTIVE DESIGN INC		69,375	$17.7k69.4k shares
WAG GROUP CO PETXQ	PETXQ	60,000	$13.9k60.0k shares
EMBRACE CHANGE ACQUISITN COR		346,875	$8.2k346.9k shares
WAG GROUP CO		173,975	$2.8k174.0k 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.

Company	Ticker	Stake	Change	Schedule	Last filed
ARC GROUP ACQUISITION I CORP ARCL · 13G · filed 2026-08-13	ARCL	8.1%≈ $10.2m	new	13G	2026-08-13