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Livermore
Livermore
ZHEN

MMCAP International Inc. SPC

SEC CIK
0001304857
Latest filing
Aug 14, 2026

The latest 13F from MMCAP International Inc. SPC covers Q2 2026 (filed Aug 14, 2026): 303 long positions worth $1.18B. The top 10 holdings make up 28.1% of the portfolio, and the largest is Aris Mining Corp (ARIS) at 8.6%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
122
Est. +$512.6M
Added
9
Est. +$13.4M
Reduced
15
Est. −$74.6M
Sold out
63
Est. −$417.6M

Top 5 holdings

Share of this quarter's portfolio value

  1. ARISAris Mining Corp
    8.6%$101.8MHistory
  2. ASTLAlgoma Steel Group Inc.
    3.8%$44.4MHistory
  3. CXIIChurchill Capital Corp XII
    2.4%$28.8MHistory
  4. DMIIDrugs Made In America Acquisition II Corp.
    2.3%$27.2MHistory
  5. NXENexGen Energy Ltd.
    2.1%$25.3MHistory

Share of portfolio

Top 5 holdings and the other 298 positions, by share of portfolio value

  1. ARIS8.6%
  2. ASTL3.8%
  3. CXII2.4%
  4. DMII2.3%
  5. NXE2.1%
  6. Other 298 positions80.7%

Biggest buys

New and added positions, by estimated amount bought

  1. CXIIChurchill Capital Corp XII
    +$28.8MNewHistory
  2. CGCFUCartesian Growth Corp IV
    +$23.5MNewHistory
  3. IPFXInflection Point Acquisition Corp. VI
    +$20.0MNewHistory
  4. TACTransalta Corp
    +$18.1MNewHistory
  5. Futurecorp Space AcquisitionG37307124
    +$17.7MNew

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. CXIIChurchill Capital Corp XII
    +2.44 pp0.0% → 2.4%History
  2. CGCFUCartesian Growth Corp IV
    +1.99 pp0.0% → 2.0%History
  3. IPFXInflection Point Acquisition Corp. VI
    +1.69 pp0.0% → 1.7%History
  4. TACTransalta Corp
    +1.54 pp0.0% → 1.5%History
  5. Futurecorp Space AcquisitionG37307124
    +1.50 pp0.0% → 1.5%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. XNDUXanadu Quantum Technologies Ltd
    −$48.1MSold outHistory
  2. CCXIUChurchill Capital Corp XI
    −$27.7MSold outHistory
  3. MOZAYYX Acquisition Corp.G63113123
    −$17.4MSold out
  4. IACOUIdea Acquisition Corp.
    −$17.3MSold outHistory
  5. STLDSteel Dynamics Inc
    −$16.1MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. XNDUXanadu Quantum Technologies Ltd
    −4.15 pp4.2% → 0.0%History
  2. ARISAris Mining Corp
    −3.90 pp12.5% → 8.6%History
  3. CCXIUChurchill Capital Corp XI
    −2.39 pp2.4% → 0.0%History
  4. MOZAYYX Acquisition Corp.G63113123
    −1.50 pp1.5% → 0.0%
  5. IACOUIdea Acquisition Corp.
    −1.50 pp1.5% → 0.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$1.18B
+$21.3M (+1.8%) vs. prior quarter
Positions
303
+59 vs. prior quarter
Top 10 concentration
28.1%
Top 10 as share of value
Turnover
42.1%
Q2 2026, one quarter
Average holding period
4.3 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $1.71B (Q1 2022)

Q1 2021: $1.02BQ2 2021: $1.13BQ3 2021: $1.43BQ4 2021: $1.61BQ1 2022: $1.71BQ2 2022: $1.25BQ3 2022: $1.25BQ4 2022: $986.0MQ1 2023: $508.6MQ2 2023: $303.8MQ3 2023: $348.3MQ4 2023: $546.1MQ1 2024: $768.2MQ2 2024: $719.2MQ3 2024: $719.0MQ4 2024: $664.9MQ1 2025: $586.8MQ2 2025: $831.4MQ3 2025: $859.8MQ4 2025: $1.00BQ1 2026: $1.16BQ2 2026: $1.18B
Q1 2021Q2 2026
13F filings of MMCAP International Inc. SPC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 14, 2026303$1.18BARISASTLCXIIvs. Q1 2026SEC
Q1 2026May 15, 2026244$1.16BARISASTLXNDUvs. Q4 2025SEC
Q4 2025Feb 9, 2026208$1.00BARISASTLCCXIUvs. Q3 2025SEC
Q3 2025Nov 10, 2025172$859.8MARISASTLUECvs. Q2 2025SEC
Q2 2025Aug 6, 2025144$831.4MARISUECASTLvs. Q1 2025SEC
Q1 2025May 12, 2025131$586.8MUECARISMLvs. Q4 2024SEC
Q4 2024Feb 4, 2025139$664.9MUECASTLMLvs. Q3 2024SEC
Q3 2024Nov 12, 2024166$719.0MUECASTLARISvs. Q2 2024SEC
Q2 2024Aug 13, 2024181$719.2MUECASTLARISvs. Q1 2024SEC
Q1 2024May 9, 2024186$768.2MUECASTLCVEvs. Q4 2023SEC
Q4 2023Feb 12, 2024194$546.1MUECCVEDNNvs. Q3 2023SEC
Q3 2023Nov 13, 2023197$348.3MUECURGDNNvs. Q2 2023SEC
Q2 2023Aug 14, 2023212$303.8MUECDNNURGvs. Q1 2023SEC
Q1 2023May 11, 2023265$508.6MUECDNNURGvs. Q4 2022SEC
Q4 2022Feb 9, 2023376$986.0MUECDNNQuantum Fintech Acquistin Covs. Q3 2022SEC
Q3 2022Nov 10, 2022469$1.25BUECAtlas CorpDNNvs. Q2 2022SEC
Q2 2022Aug 12, 2022481$1.25BUECQuantum Fintech Acquistin CoDNNvs. Q1 2022SEC
Q1 2022May 11, 2022516$1.71BDNNCVIIQuantum Fintech Acquistin Covs. Q4 2021SEC
Q4 2021Feb 9, 2022434$1.61BDNNCVIIQuantum Fintech Acquistin Covs. Q3 2021SEC
Q3 2021Nov 10, 2021423$1.43BDNNCVIIIMAQvs. Q2 2021SEC
Q2 2021Aug 12, 2021419$1.13BDNNCVIICFIVvs. Q1 2021SEC
Q1 2021Jul 13, 2021321$1.02BDNNChurchill Capital Corp VIIShaw Communications Inc–SEC

13D and 13G filings

Companies where MMCAP International Inc. SPC reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

40 companies, largest stake first.

Companies where MMCAP International Inc. SPC owns 5% or more
CompanyLatest formStakeChangeFirst filedLatest filingFiling
CRDLCardiol Therapeutics Inc.13G/A17.60%21.3M shares−0.30 ppfrom 17.90%Nov 15, 20218 filingsAug 14, 2026SEC
ASTLAlgoma Steel Group Inc.13G/A10.40%11.0M shares−1.80 ppfrom 12.20%Feb 20, 20249 filingsAug 14, 2026SEC
POETPoet Technologies Inc.13G/A9.99%19.2M shares−1.01 ppfrom 11.00%May 8, 202412 filingsAug 14, 2026SEC
UPXIUpexi, Inc.13G/A9.99%6.28M shares0.00 ppfrom 9.99%Jul 22, 20252 filingsFeb 13, 2026SEC
XIIIChurchill Capital Corp XIII13G9.60%3.45M sharesNewAug 4, 20261 filingAug 4, 2026SEC
PLRZPolyrizon Ltd.13G/A9.60%199.5K shares+2.30 ppfrom 7.30%Apr 28, 20262 filingsAug 14, 2026SEC
UACUnited Acquisition Corp. I13G/A9.10%1.05M shares+1.40 ppfrom 7.70%Feb 5, 20262 filingsMay 11, 2026SEC
RENEFCartesian Growth Corp II13G/A9.10%800.0K shares+2.90 ppfrom 6.20%Nov 6, 20252 filingsFeb 13, 2026SEC
SUIGSUI Group Holdings Ltd.13G/A8.80%6.75M shares+0.10 ppfrom 8.70%Oct 1, 20254 filingsAug 14, 2026SEC
HYACHaymaker Acquisition Corp V13G8.80%2.20M sharesNewSep 21, 20261 filingSep 21, 2026SEC
LEDRLeader's Advantage Acquisition Corp.13G8.60%1.28M sharesNewSep 21, 20261 filingSep 21, 2026SEC
TBCVThunder Bridge Capital Partners V, Ltd.13G8.50%2.55M sharesNewAug 17, 20261 filingAug 17, 2026SEC
CGCFUCartesian Growth Corp IV13G8.50%2.35M sharesNewJul 2, 20261 filingJul 2, 2026SEC
FERAFifth Era Acquisition Corp I13G/A8.10%1.90M shares+1.13 ppfrom 6.97%Mar 4, 20252 filingsFeb 13, 2026SEC
LPAALaunch One Acquisition Corp.13G/A8.10%1.90M shares–Feb 13, 20261 filingFeb 13, 2026SEC
FERAUFifth Era Acquisition Corp I13G/A8.05%1.90M shares0.00 ppfrom 8.05%May 13, 20252 filingsAug 12, 2025SEC
AKTXAkari Therapeutics Plc13G8.00%8.00B sharesNewJun 8, 20261 filingJun 8, 2026SEC
IPFXInflection Point Acquisition Corp. VI13G/A7.60%1.93M shares+2.50 ppfrom 5.10%Apr 1, 20262 filingsAug 14, 2026SEC
QADRQDRO Acquisition Corp.13G/A7.50%1.50M shares+1.50 ppfrom 6.00%Apr 1, 20262 filingsAug 14, 2026SEC
MIACMeridian3 Industrials Acquisition Corp13G7.50%1.50M sharesNewJul 8, 20261 filingJul 8, 2026SEC
NPACNew Providence Acquisition Corp. III/Cayman13G/A7.10%2.20M shares−0.02 ppfrom 7.12%Apr 28, 20253 filingsFeb 13, 2026SEC
IPVVInterPrivate Investment Partners V, Inc.13G7.00%1.70M sharesNewJun 9, 20261 filingJun 9, 2026SEC
CXIIUChurchill Capital Corp XII13G6.50%2.70M sharesNewMay 5, 20261 filingMay 5, 2026SEC
FTRAFutureCorp Space Acquisition 113G6.50%1.75M sharesNewJun 8, 20261 filingJun 8, 2026SEC
WLCOWilco 63 Corp13G6.50%1.50M sharesNewJun 26, 20261 filingJun 26, 2026SEC

Showing the 25 largest of 40 stakes.

Latest filings

375 filings on file made by MMCAP International Inc. SPC or listing it as a reporting person; the latest 20 are shown.

Schedule 13D and 13G filings by MMCAP International Inc. SPC
CompanyFiled (ET)FormStakeChangeEvent dateFiling
LEDRLeader's Advantage Acquisition Corp.Sep 21, 20262:59 PM ET13G8.60%1.28M sharesNewSep 18, 2026SEC
HYACHaymaker Acquisition Corp VSep 21, 20262:52 PM ET13G8.80%2.20M sharesNewSep 17, 2026SEC
RNAQRainier Acquisition CorpSep 1, 20262:40 PM ET13G5.20%400.0K sharesNewAug 28, 2026SEC
TBCVThunder Bridge Capital Partners V, Ltd.Aug 17, 20263:15 PM ET13G8.50%2.55M sharesNewAug 13, 2026SEC
POETPoet Technologies Inc.Aug 14, 20264:09 PM ET13G/A9.99%19.2M shares−1.01 ppfrom 11.00%Jun 30, 2026SEC
WSTRFWestern Uranium & Vanadium Corp.Aug 14, 20264:08 PM ET13G/A5.00%3.71M shares0.00 ppfrom 5.00%Jun 30, 2026SEC
ASTLAlgoma Steel Group Inc.Aug 14, 20264:08 PM ET13G/A10.40%11.0M shares−1.80 ppfrom 12.20%Jun 30, 2026SEC
CRDLCardiol Therapeutics Inc.Aug 14, 20264:08 PM ET13G/A17.60%21.3M shares−0.30 ppfrom 17.90%Jun 30, 2026SEC
IPFXInflection Point Acquisition Corp. VIAug 14, 20263:21 PM ET13G/A7.60%1.93M shares+2.50 ppfrom 5.10%Jun 30, 2026SEC
PLRZPolyrizon Ltd.Aug 14, 20263:16 PM ET13G/A9.60%199.5K shares+2.30 ppfrom 7.30%Jun 30, 2026SEC
ZONEZone Frontier Inc.Aug 14, 20263:13 PM ET13G/A6.30%14.0M shares−1.70 ppfrom 8.00%Jun 30, 2026SEC
MZYXMOZAYYX Acquisition Corp.Aug 14, 20263:02 PM ET13G/A5.80%1.75M shares+0.40 ppfrom 5.40%Jun 30, 2026SEC
CCXIChurchill Capital Corp XIAug 14, 20262:48 PM ET13G/A2.30%950.5K shares–Below 5%Jun 30, 2026SEC
SUIGSUI Group Holdings Ltd.Aug 14, 20262:12 PM ET13G/A8.80%6.75M shares+0.10 ppfrom 8.70%Jun 30, 2026SEC
QADRQDRO Acquisition Corp.Aug 14, 20262:01 PM ET13G/A7.50%1.50M shares+1.50 ppfrom 6.00%Jun 30, 2026SEC
XIIIChurchill Capital Corp XIIIAug 4, 20262:23 PM ET13G9.60%3.45M sharesNewJul 31, 2026SEC
SAMOSamos Energy Acquisition CorpJul 14, 202611:03 AM ET13G6.00%1.50M sharesNewJul 10, 2026SEC
MIACMeridian3 Industrials Acquisition CorpJul 8, 20267:53 PM ET13G7.50%1.50M sharesNewJul 2, 2026SEC
OSPROsprey Acquisition Corp. IIIJul 7, 202612:17 PM ET13G6.10%2.20M sharesNewJul 1, 2026SEC
WLCOWilco 63 CorpJul 7, 202612:10 PM ET13G6.10%2.20M sharesNewJul 1, 2026SEC