MMCAP International Inc. SPC

CIK 0001304857 · Q2 2026

13F Equity AUM

$1.2B

+1.8% QoQ

Positions

301

+58 QoQ

AUM Rank

#3,083

Top 25%

Skill Alpha (FF)

+21.4%/yr^ns

No Clear Edge

Rank #131 · Top 2%

vs S&P +6.5%/yr (unadj.)

Quarters Tracked

~6 years

Portfolio Concentration

Top 5: 19.3%Top 10: 28.1%Top 20: 42.1%

ARIS8.6%

ASTL3.8%

Churchill Capital Corp XII2.4%

DMII2.3%

NXE2.1%

Cartesian Growth Corp IV2.0%

New Providence Acquisition Cor1.9%

Inflection Point Acquisition C1.7%

FERAU1.7%

TAC1.5%

Others (291)71.9%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Unclassified45.6%

Financial Services24.4%

Basic Materials14.5%

Consumer Cyclical5.9%

Energy2.6%

Other7.0%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 301Median: 0.05%Avg: 0.33%

0–0.5%

235(19.0%)

0.5–1%

35(26.0%)

1–3%

29(42.6%)

3–5%

1(3.8%)

5%+

1(8.6%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 301vs 20 funds

0%Low

301

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New124Increased9Decreased15Exited65

New Positions

Churchill Capital Co…2.4%

+2.7M

Cartesian Growth Cor…2.0%

+2.4M

Inflection Point Acq…1.7%

+1.9M

TAC1.5%

+1.3M

FutureCorp Space Acq…1.5%

+1.8M

MOZAYYX Acquisition …1.5%

+1.8M

Idea Acquisition Cor…1.5%

+1.8M

InterPrivate Investm…1.4%

+1.7M

Churchill Capital Co…1.4%

+950K

Iron Horse Acquisiti…1.3%

+1.5M

Increased

NHIC0.7%

+500K(+250%)

NXE2.1%

+264K(+11%)

CRDL1.4%

+246K(+2%)

VBIX0.2%

+246K(+212%)

SUIG0.7%

+100K(+2%)

MOS0.5%

+92K(+55%)

GM1.0%

+17K(+12%)

SQNS0.0%

+13K(+35%)

APTV1.3%

+8K(+3%)

Decreased

ZONE1.0%

-2,917,169(-17%)

EU0.2%

-2,299,857(-55%)

ASTL3.8%

-1,890,884(-15%)

ARIS8.6%

-984,383(-13%)

VGZ0.1%

-481,436(-42%)

WY0.1%

-358,892(-87%)

STM0.9%

-174,383(-56%)

PRN0.4%

-73,796(-10%)

STLD0.1%

-69,970(-95%)

MT0.2%

-68,202(-64%)

Exited

XANADU QUANTUM TECHN…

-6,875,000

CCXIU

-2,700,000

Idea Acquisition Cor…

-1,750,000

MOZAYYX Acquisition …

-1,750,000

Inflection Point Acq…

-1,500,000

IRHOU

-1,500,000

MESHW

-1,500,000

QDRO Acquisition Cor…

-1,500,000

HCM IV Acquisition C…

-1,400,000

CGCTW

-1,350,000

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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