1y return+49.8%S&P 500 +20.9%
3y return+118.5%S&P 500 +68.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since September 30, 2021: $229 against $174 in the S&P 500.2
MMCAP International Inc. SPCS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| ARISAris Mining Corp | $101.8M | 8.6% | −12.6% |
| ASTLAlgoma Steel Group Inc | $44.4M | 3.8% | −14.7% |
| Churchill Capital Corp XIICUSIP G2131M102 | $28.8M | 2.4% | New |
| Drugs Made In America AcquisitCUSIP G2851K104 | $27.2M | 2.3% | |
| NXENexGen Energy Ltd | $25.3M | 2.1% | +10.9% |
| Cartesian Growth Corp IVCUSIP G19316127 | $23.5M | 2.0% | New |
| New Providence Acquisition CorCUSIP G6476A102 | $22.8M | 1.9% | |
| Inflection Point Acquisition CCUSIP G4790S107 | $20.0M | 1.7% | New |
| Fifth Era Acquisition Corp ICUSIP G3415K101 | $19.8M | 1.7% | |
| TACTransAlta Corp | $18.1M | 1.5% | New |
| FutureCorp Space Acquisition 1CUSIP G37307124 | $17.7M | 1.5% | New |
| MOZAYYX Acquisition CorpCUSIP G63113107 | $17.4M | 1.5% | New |
| Idea Acquisition CorpCUSIP G4727U100 | $17.3M | 1.5% | New |
| InterPrivate Investment PartneCUSIP G49097127 | $16.9M | 1.4% | New |
| Churchill Capital Corp XICUSIP G2131A108 | $16.6M | 1.4% | New |
| CRDLCardiol Therapeutics Inc | $16.5M | 1.4% | +1.6% |
| Republic Digital Acquisition CCUSIP G7515A103 | $16.2M | 1.4% | |
| Launch One Acquisition CorpCUSIP G5S86M100 | $16.0M | 1.4% | |
| Cantor Equity Partners IV IncCUSIP G1828E100 | $15.6M | 1.3% | |
| IRHOIron Horse Acquisition II Corp | $15.0M | 1.3% | New |
| Meshflow Acquisition CorpCUSIP G6032N101 | $15.0M | 1.3% | New |
| Wilco 63 CorpCUSIP G9640P120 | $14.9M | 1.3% | New |
| QDRO Acquisition CorpCUSIP G7310E102 | $14.9M | 1.3% | New |
| Aptiv PLCCUSIP G3265R107 | $14.8M | 1.3% | +3.3% |
| Inflection Point Acquisition CCUSIP G47875102 | $14.5M | 1.2% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| ARISAris Mining Corp | September 30, 2023 | +556.8% | $101.8M |
| ZONECleancore Solutions Inc | December 31, 2025 | +215.4% | $11.4M |
| NXENexGen Energy Ltd | September 30, 2022 | +155.9% | $25.3M |
| GMGeneral Motors Co | September 30, 2024 | +71.9% | $11.6M |
| Launch One Acquisition CorpCUSIP G5S86M100 | September 30, 2024 | +8.6% | $16.0M |
| GP-Act III Acquisition CorpCUSIP G4035N103 | September 30, 2024 | +7.8% | $13.9M |
| Lionheart HoldingsCUSIP G5501C109 | September 30, 2024 | +7.7% | $10.6M |
| Silverbox Corp IVCUSIP G81354105 | March 31, 2025 | +6.2% | $10.6M |
| Inflection Point Acquisition CCUSIP G47875102 | September 30, 2025 | +2.6% | $14.5M |
| Fifth Era Acquisition Corp ICUSIP G3415K101 | September 30, 2025 | +2.5% | $19.8M |
Sold off last quarter
- XNDUXanadu Quantum Technolo-cl B was $48.1M
- Churchill Capital Corp XICUSIP G2131A124 was $27.7M
- MOZAYYX Acquisition CorpCUSIP G63113123 was $17.4M
- Idea Acquisition CorpCUSIP G4727U126 was $17.3M
- Inflection Point Acquisition CCUSIP G4790S123 was $15.2M
- Meshflow Acquisition CorpCUSIP G6032N127 was $14.9M
- IRHOUIron Horse Acquisition II Corp was $14.9M
- QDRO Acquisition CorpCUSIP G7310E128 was $14.9M
- HCM IV Acquisition CorpCUSIP G4365S128 was $14.0M
- Cartesian Growth Corp IIICUSIP G19307100 was $13.8M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +4.5% | +14.8% |
| March 31, 2026 | +3.9% | −4.6% |
| December 31, 2025 | +10.9% | +2.4% |
| September 30, 2025 | +24.4% | +7.8% |
| June 30, 2025 | +20.2% | +10.5% |
| March 31, 2025 | −13.3% | −4.6% |
| December 31, 2024 | −0.3% | +2.1% |
| September 30, 2024 | +6.6% | +5.4% |
| June 30, 2024 | −8.6% | +4.0% |
| March 31, 2024 | +5.5% | +10.0% |
| December 31, 2023 | +11.9% | +11.2% |
| September 30, 2023 | +22.1% | −3.6% |
| June 30, 2023 | +5.2% | +8.3% |
| March 31, 2023 | −1.3% | +7.0% |
| December 31, 2022 | +1.7% | +7.1% |
| September 30, 2022 | +1.3% | −5.3% |
| June 30, 2022 | −1.7% | −16.5% |
| March 31, 2022 | −0.2% | −4.9% |
| December 31, 2021 | −0.4% | +10.7% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: MMCAP International Inc. SPC Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1304857&type=13F-HR&dateb=&owner=include&count=40CIK 1304857
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1304857/000091228226001105/Filed August 14, 2026 · accession 0000912282-26-001105