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Fort Baker Capital Management LP

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13F filer, CIK 1688382, Larkspur, CA

Fort Baker Capital Management LP reported $915,985,776 across 115 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 37.65% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0002085853-26-000270

Period
2025-12-31
Reported value
$916M
Holdings
115
Top 10 weight
37.65%
New
75
Sold out
50

Largest buys vs the previous quarter

SecurityShares changeApprox. value
WBDnew+1,326,995$38.2M
CWANnew+1,529,288$36.9M
EXASnew+357,000$36.3M
BCSSnew+2,779,646$28M
FACnew+2,529,121$26M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
TGNAexited-1,678,588-$34.3M
INFQexited-1,722,666-$22.2M
LBRDKreduced-375,112-$18.2M
REDFIN CORPexited-18,071,000-$16.8M
CABLE ONE INCexited-14,035,000-$13.7M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0002085853-26-000270, largest first. % of portfolio is the value over $899,921,508, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
FYBRFRONTIER COMMUNICATIONS PAREQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,211,428 shares; 2025Q1: 1,067,352 shares; 2025Q2: 993,695 shares; 2025Q3: 993,695 shares; 2025Q4: 1,066,137 shares 1,066,137$40.6M4.51%+72,442Timeline
CYBERARK SOFTWARE LTD/ISRAELCYBERARK SOFTWARE LTD/ISRAELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 103,749 shares; 2025Q4: 86,604 shares 86,604$38.6M4.29%-17,145
WBDWARNER BROS DISCOVERY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,326,995 shares 1,326,995$38.2M4.25%newTimeline
FTWEQV VENTURES ACQUISITION C-AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 3,110,433 shares; 2025Q3: 3,570,433 shares; 2025Q4: 3,570,433 shares 3,570,433$37.5M4.16%0Timeline
CWANCLEARWATER ANALYTICS HLDGS IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,529,288 shares 1,529,288$36.9M4.1%newTimeline
EXASEXACT SCIENCES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 357,000 shares 357,000$36.3M4.03%newTimeline
CCIXCHURCHILL CAPITAL CORP IXQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,874,000 shares; 2024Q4: 2,818,107 shares; 2025Q1: 2,311,949 shares; 2025Q2: 2,562,678 shares; 2025Q3: 2,833,119 shares; 2025Q4: 2,833,119 shares 2,833,119$30.1M3.35%0Timeline
BCSSBAIN CAP GSS INVT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 2,779,646 shares 2,779,646$28M3.11%newTimeline
HYACHAYMAKER ACQUISITION CORP IVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,310,641 shares; 2024Q4: 1,511,441 shares; 2025Q1: 2,148,219 shares; 2025Q2: 2,328,219 shares; 2025Q3: 2,337,220 shares; 2025Q4: 2,337,220 shares 2,337,220$26.6M2.96%0Timeline
FACCARTESIAN GROWTH CORP IIIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 2,529,121 shares 2,529,121$26M2.89%newTimeline
FOXFOX CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 386,475 shares 386,475$25.1M2.79%newTimeline
EAELECTRONIC ARTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 115,709 shares 115,709$23.6M2.63%newTimeline
CCXIUCHURCHILL CAP CORP XIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 2,252,979 shares 2,252,979$23M2.56%newTimeline
ANSCAGRICULTURE & NAT SOL ACQ COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 936,916 shares; 2025Q4: 1,879,630 shares 1,879,630$21M2.34%+942,714Timeline
HOLXHOLOGIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 279,139 shares 279,139$20.8M2.31%newTimeline
DAYDAYFORCE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 324,588 shares; 2025Q4: 270,010 shares 270,010$18.7M2.08%-54,578Timeline
CORZWCORE SCIENTIFIC INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,495,598 shares; 2025Q4: 1,894,484 shares 1,894,484$16M1.78%+398,886Timeline
DRDBROMAN DBDR ACQUISITION CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 805,647 shares; 2025Q2: 805,647 shares; 2025Q3: 913,532 shares; 2025Q4: 1,523,746 shares 1,523,746$15.9M1.77%+610,214Timeline
KBONUKARBON CAP PARTNERS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,499,756 shares 1,499,756$15.1M1.68%newTimeline
IMXIINTERNATIONAL MONEY EXPRESSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 951,582 shares 951,582$14.6M1.62%newTimeline
GTENGORES HLDGS X INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 850,000 shares; 2025Q3: 850,000 shares; 2025Q4: 1,423,190 shares 1,423,190$14.6M1.62%+573,190Timeline
RNAMAVIDITY BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 178,980 shares 178,980$12.9M1.43%newTimeline
LBRDKLIBERTY BROADBAND CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 521,008 shares; 2024Q4: 374,907 shares; 2025Q1: not reported; 2025Q2: 306,669 shares; 2025Q3: 635,391 shares; 2025Q4: 260,279 shares 260,279$12.6M1.41%-375,112Timeline
NESRNATIONAL ENERGY SERVICES REUQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 3,088,210 shares; 2025Q1: 2,687,937 shares; 2025Q2: 1,717,834 shares; 2025Q3: 817,752 shares; 2025Q4: 783,649 shares 783,649$12.3M1.36%-34,103Timeline
GSHRGESHER ACQUISITION CORP. IIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,050,000 shares; 2025Q3: 1,091,570 shares; 2025Q4: 1,091,570 shares 1,091,570$11.2M1.25%0Timeline
ONENHENNESSY CAP INVT CORP VIIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 349,248 shares; 2025Q3: 1,008,922 shares; 2025Q4: 963,922 shares 963,922$9.98M1.11%-45,000Timeline
CRANUCRANE HBR ACQUISITION CORP IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 977,582 shares 977,582$9.84M1.09%newTimeline
GFUZSPRING VY ACQUISITION CORP IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 950,500 shares 950,500$9.65M1.07%newTimeline
NGDNEW GOLD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,025,660 shares 1,025,660$8.93M0.99%newTimeline
TONTGRAF GLOBAL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 826,358 shares 826,358$8.89M0.99%newTimeline
PMTRPERIMETER ACQUISITION CORP IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 800,000 shares; 2025Q3: 800,000 shares; 2025Q4: 800,000 shares 800,000$8.22M0.91%0Timeline
DSACUDAEDALUS SPL ACQUISITION CORQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 790,000 shares 790,000$7.93M0.88%newTimeline
DYORINSIGHT DIGITAL PARTNERS IIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 691,455 shares 691,455$6.85M0.76%newTimeline
HCACUHALL CHADWICK ACQUISITION COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 650,000 shares 650,000$6.51M0.72%newTimeline
VHCPUVINE HILL CAP INVTS CORP IIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 600,000 shares 600,000$6.01M0.67%newTimeline
LBRDALIBERTY BROADBAND CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 100,075 shares 100,075$4.83M0.54%newTimeline
ALDFALDEL FINL II INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 557,900 shares; 2025Q1: 449,087 shares; 2025Q2: 449,087 shares; 2025Q3: 454,193 shares; 2025Q4: 454,193 shares 454,193$4.76M0.53%0Timeline
PLYMPLYMOUTH INDUSTRIAL REIT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 165,899 shares 165,899$3.63M0.4%newTimeline
CCIICOHEN CIRCLE ACQUISIT CORP IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 200,000 shares; 2025Q4: 352,248 shares 352,248$3.61M0.4%+152,248Timeline
TACOBERTO ACQUISITION CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 352,163 shares 352,163$3.57M0.4%newTimeline
APXTAPEX TREAS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 350,000 shares 350,000$3.46M0.38%newTimeline
REVGREV GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 53,194 shares 53,194$3.24M0.36%newTimeline
PCAPPROCAP ACQUISITION CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 303,781 shares; 2025Q4: 303,781 shares 303,781$3.08M0.34%0Timeline
AXINAXIOM INTELLIGENCE AC CORP 1Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 300,000 shares 300,000$3.02M0.34%newTimeline
SOCASOLARIUS CAPITAL ACQU CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 300,000 shares; 2025Q4: 300,000 shares 300,000$3.02M0.34%0Timeline
EVACEQV VENTURES AC CORP. IIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 50,000 shares; 2025Q4: 300,000 shares 300,000$3.01M0.33%+250,000Timeline
NSTRVIKING ACQUISITION CORP IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 300,000 shares 300,000$2.97M0.33%newTimeline
EVOXEVOLUTION GLOBAL ACQUISITIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 300,000 shares 300,000$2.96M0.33%newTimeline
RACRITHM ACQUISITION CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 250,405 shares; 2025Q3: 250,405 shares; 2025Q4: 250,405 shares 250,405$2.6M0.29%0Timeline
JAMFJAMF HOLDING CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 195,162 shares 195,162$2.54M0.28%newTimeline
OTGAOTG ACQUISITION CORP. IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 250,000 shares 250,000$2.5M0.28%newTimeline
CENXCENTURY ALUM COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 60,000 shares 60,000$2.35M0.26%newTimeline
AACBARTIUS II ACQUISITION INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 207,736 shares 207,736$2.14M0.24%newTimeline
TDWDTAILWIND 2.0 ACQUISITION CORQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 150,000 shares 150,000$1.48M0.16%newTimeline
RCUSARCUS BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 52,523 shares 52,523$1.25M0.14%newTimeline
KGSKODIAK GAS SVCS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 29,800 shares 29,800$1.11M0.12%newTimeline
AMPX/WSAMPRIUS TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 138,221 shares; 2025Q4: 414,139 shares 414,139$1.06M0.12%+275,918Timeline
SOCSABLE OFFSHORE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 112,047 shares 112,047$1.01M0.11%newTimeline
POLEANDRETTI ACQUISITION CORP IIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 50,254 shares 50,254$528K0.06%newTimeline
SACUSAFEGUARD ACQUISITION CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 50,000 shares 50,000$504K0.06%newTimeline
ARCHER AVIATION INCARCHER AVIATION INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 378,861 shares 378,861$434K0.05%new
GRAF GLOBAL CORPGRAF GLOBAL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 747,753 shares 747,753$338K0.04%new
BAIN CAP GSS INVT CORPBAIN CAP GSS INVT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 406,531 shares 406,531$265K0.03%new
PMTRWPERIMETER ACQUISITION CORP IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 399,999 shares; 2025Q3: 399,999 shares; 2025Q4: 366,149 shares 366,149$259K0.03%-33,850Timeline
FCRSFUTURECREST ACQUISITION CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 25,000 shares 25,000$253K0.03%newTimeline
FIGXFIGX CAP ACQUISITION CORP.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 25,000 shares; 2025Q4: 25,000 shares 25,000$252K0.03%0Timeline
BLZRTRAILBLAZER ACQUISITION CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 25,000 shares 25,000$250K0.03%newTimeline
DRDBWROMAN DBDR ACQUISITION CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 402,823 shares; 2025Q2: 402,823 shares; 2025Q3: 402,823 shares; 2025Q4: 402,823 shares 402,823$246K0.03%0Timeline
CCIXWCHURCHILL CAPITAL CORP IXQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 718,498 shares; 2024Q4: 590,775 shares; 2025Q1: 349,254 shares; 2025Q2: 343,950 shares; 2025Q3: 278,430 shares; 2025Q4: 226,983 shares 226,983$201K0.02%-51,447Timeline
SVACWSPRING VY ACQUISITION CORP IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 314,936 shares 314,936$196K0.02%newTimeline
GSHRWGESHER ACQUISITION CORP. IIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 450,000 shares; 2025Q3: 450,000 shares; 2025Q4: 450,000 shares 450,000$184K0.02%0Timeline
GTENWGORES HLDGS X INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 212,500 shares; 2025Q3: 212,500 shares; 2025Q4: 212,500 shares 212,500$181K0.02%0Timeline
BULLWWEBULL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 60,208 shares 60,208$172K0.02%newTimeline
AIRJWAIRJOULE TECHNOLOGIES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 85,179 shares; 2025Q4: 177,672 shares 177,672$151K0.02%+92,493Timeline
CAEPCANTOR EQUITY PARTNERS III IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 10,000 shares; 2025Q3: 10,000 shares; 2025Q4: 10,000 shares 10,000$102K0.01%0Timeline
HCMAHCM III ACQUISITION CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 10,000 shares; 2025Q4: 10,000 shares 10,000$100K0.01%0Timeline
VCICWVINE HILL CAP INVT CORP.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 53,670 shares; 2025Q4: 53,670 shares 53,670$96.6K0.01%0Timeline
ANSCWAGRICULTURE & NAT SOL ACQ COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 213,522 shares 213,522$68.3K0.01%newTimeline
EVOXWEVOLUTION GLOBAL ACQUISITIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 150,000 shares 150,000$61.5K0.01%newTimeline
AXINRAXIOM INTELLIGENCE AC CORP 1Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 250,000 shares 250,000$52.5K0.01%newTimeline
DYORWINSIGHT DIGITAL PARTNERS IIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 150,000 shares 150,000$49.5K0.01%newTimeline
APXTWAPEX TREAS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 175,000 shares 175,000$48.6K0.01%newTimeline
TLSIWTRISALUS LIFE SCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 26,474 shares 26,474$43.9K<0.01%newTimeline
EVLVWEVOLV TECHNOLOGIES HLDNGS INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 97,644 shares; 2025Q4: 162,698 shares 162,698$43.9K<0.01%+65,054Timeline
CRANE HBR ACQUISITION CORPCRANE HBR ACQUISITION CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 54,576 shares 54,576$43.7K<0.01%new
SOCAWSOLARIUS CAPITAL ACQU CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 149,998 shares; 2025Q4: 149,998 shares 149,998$42K<0.01%0Timeline
AUROWAURORA INNOVATION INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 302,393 shares; 2025Q4: 183,291 shares 183,291$41.3K<0.01%-119,102Timeline
OTGAWOTG ACQUISITION CORP. IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 125,000 shares 125,000$40K<0.01%newTimeline
VIKING ACQUISITION CORP IVIKING ACQUISITION CORP IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 100,000 shares 100,000$39K<0.01%new
PCAPWPROCAP ACQUISITION CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 101,260 shares; 2025Q4: 101,260 shares 101,260$37.6K<0.01%0Timeline
CCIIWCOHEN CIRCLE ACQUISIT CORP IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 50,000 shares; 2025Q4: 50,000 shares 50,000$35K<0.01%0Timeline
PEWWSGRABAGUN DIGITAL HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 70,992 shares; 2025Q4: 70,992 shares 70,992$26.6K<0.01%0Timeline
TDWDRTAILWIND 2.0 ACQUISITION CORQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 150,000 shares 150,000$24.6K<0.01%newTimeline
EQV VENTURES AC CORP. IIEQV VENTURES AC CORP. IIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 16,666 shares; 2025Q4: 16,666 shares 16,666$5.83K<0.01%0
FIGXWFIGX CAP ACQUISITION CORP.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 12,500 shares; 2025Q4: 12,500 shares 12,500$3.31K<0.01%0Timeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
WBDWARNER BROS DISCOVERY INC Stockcall360,200$10.4Mnew
WBDWARNER BROS DISCOVERY INC Stockput197,200$5.68Mnew

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
ENOVIS CORPORATIONENOVIS CORPORATION NOTE 3.875%10/1principal17,500,000$17.3Mnew
REDFIN CORPREDFIN CORP NOTE 0.500% 4/0principal17,721,000$16.8Mnew
CABLE ONE INCCABLE ONE INC NOTE 3/1principal14,035,000$13.9Mnew
ZIFF DAVIS INCZIFF DAVIS INC NOTE 1.75% 11/01/2026principal12,974,000$12.7Mnew
JETBLUE AIRWAYS CORPJETBLUE AIRWAYS CORP NOTE 0.500% 4/0principal11,366,000$11.2Mnew
SUMMIT HOTEL PPTYSSUMMIT HOTEL PPTYS NOTE 1.500% 2/1principal10,000,000$10Mnew
PENNYMAC CORPPENNYMAC CORP NOTE 5.500% 3/1principal9,377,000$9.53Mnew
CONMED CORPCONMED CORP NOTE 2.250% 6/1principal9,645,000$9.26Mnew
REDWOOD TRUST INCREDWOOD TRUST INC Convertibleprincipal8,801,000$8.89Mnew
DEXCOM INCDEXCOM INC NOTE 0.375% 5/1principal9,500,000$8.76Mnew
RIOT PLATFORMS INCRIOT PLATFORMS INC NOTE 0.750% 1/1principal7,107,000$8.09Mnew
VAIL RESORTS INCVAIL RESORTS INC NOTE 1/0principal5,000,000$5Mnew
MARRIOTT VACATION WORLDWMARRIOTT VACATION WORLDW NOTE 1/1principal5,000,000$4.99Mnew
STRATEGY INCSTRATEGY INC NOTE12/0principal5,000,000$4.12Mnew
SPECTRUM BRANDS INCSPECTRUM BRANDS INC Convertible Bondprincipal3,691,000$3.51Mnew
PELOTON INTERACTIVE INCPELOTON INTERACTIVE INC NOTE 2/1principal2,996,000$2.97Mnew
CAPITAL SOUTHWEST CORPCAPITAL SOUTHWEST CORP Convertible Bondprincipal2,630,000$2.64Mnew
NCL CORP LTDNCL CORP LTD BONDprincipal2,500,000$2.51Mnew

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
TGNATEGNA INC1,678,588$34.3Mshares
INFQINFLEQTION INC1,722,666$22.2Mshares
REDFIN CORPREDFIN CORP18,071,000$16.8Mshares
CABLE ONE INCCABLE ONE INC14,035,000$13.7Mshares
MERIDIANLINK INCMERIDIANLINK INC671,340$13.4Mshares
BCSSUBAIN CAP GSS INVT CORP1,302,980$13.1Mshares
ZIFF DAVIS INCZIFF DAVIS INC12,974,000$12.7Mshares
TGNATEGNA INC542,000$11Mcall
SUMMIT HOTEL PPTYSSUMMIT HOTEL PPTYS10,000,000$9.88Mshares
SVACUSPRING VY ACQUISITION CORP I950,500$9.77Mshares
ENOVIS CORPORATIONENOVIS CORPORATION9,500,000$9.54Mshares
PENNYMAC CORPPENNYMAC CORP9,377,000$9.39Mshares
UAAUNDER ARMOUR INC1,728,303$8.62Mshares
JETBLUE AIRWAYS CORPJETBLUE AIRWAYS CORP8,366,000$8.16Mshares
VERINT SYS INCVERINT SYS INC400,000$8.1Mcall
DOLEDOLE PLC553,090$7.47Mshares
EVOLENT HEALTH INCEVOLENT HEALTH INC8,000,000$6.56Mshares
CONMED CORPCONMED CORP6,645,000$6.38Mshares
DAYDAYFORCE INC71,800$4.95Mcall
VAIL RESORTS INCVAIL RESORTS INC5,000,000$4.93Mshares
COMPCOMPASS INC557,901$4.48Mshares
UGI CORP NEWUGI CORP NEW3,189,000$4.11Mshares
GLADSTONE CAP CORPGLADSTONE CAP CORP3,500,000$3.48Mshares
SPECTRUM BRANDS INCSPECTRUM BRANDS INC3,691,000$3.48Mshares
SOUTHERN COSOUTHERN CO2,687,000$3.06Mshares
PELOTON INTERACTIVE INCPELOTON INTERACTIVE INC2,996,000$2.94Mshares
NCL CORP LTDNCL CORP LTD2,802,000$2.88Mshares
COLUMBUS CIRCLE CAP CORP. ICOLUMBUS CIRCLE CAP CORP. I275,853$2.79Mshares
CAPITAL SOUTHWEST CORPCAPITAL SOUTHWEST CORP2,630,000$2.63Mshares
AXINUAXIOM INTELLIGENCE AC CORP 1250,000$2.53Mshares
OTGAUOTG ACQUISITION CORP. I250,000$2.52Mshares
DLODLOCAL LTD175,000$2.5Mshares
RAPPRAPPORT THERAPEUTICS INC81,644$2.42Mshares
SAREPTA THERAPEUTICS INCSAREPTA THERAPEUTICS INC2,500,000$2.19Mshares
RWT HLDGS INCRWT HLDGS INC1,923,000$1.97Mshares
RDWREDWIRE CORPORATION210,000$1.89Mshares
EVENTBRITE INCEVENTBRITE INC1,882,000$1.8Mshares
RIGTRANSOCEAN LTD500,000$1.56Mshares
INFQ/WSCHURCHILL CAPITAL CORP X437,942$1.55Mshares
SEMLER SCIENTIFIC INCSEMLER SCIENTIFIC INC48,309$1.45Mshares
EVENTBRITE INCEVENTBRITE INC950,000$964Kshares
CEPTCANTOR EQUITY PARTNERS II IN73,432$772Kshares
HAYMAKER ACQUISITION CORP IVHAYMAKER ACQUISITION CORP IV848,590$379Kshares
FCRSUFUTURECREST ACQUISITION CORP25,000$265Kshares
BLZRUTRAILBLAZER ACQUISITION CORP25,000$256Kshares
CEPFCANTOR EQUITY PARTNERS IV IN25,000$255Kshares
COLUMBUS CIRCLE CAP CORP. ICOLUMBUS CIRCLE CAP CORP. I150,000$180Kshares
KDKRWKODIAK AI INC.138,799$148Kshares
MCGAWYORKVILLE ACQUISITION CORP.50,000$60Kshares
RTACWRENATUS TACTICAL ACQUIS47,029$56.4Kshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0002085853-26-000270 base2026-02-17acceptance time not in the bulk data set