Periscope Capital Inc.

13F filer, CIK 1695320, Toronto, Ontario, Canada

Periscope Capital Inc. reported $874,421,877 across 348 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-10. Its ten largest share positions make up 11.38% of the portfolio.

Filed 2026-02-10 (acceptance time not in the bulk data set), ingested 2026-10-07 03:01:36 UTC13F-HR 0001193125-26-043917

Period: 2025-12-31
Reported value: $874M
Holdings: 348
Top 10 weight: 11.38%
New: 108
Sold out: 46

Largest buys vs the previous quarter

Security	Shares change	Approx. value
SVAQUnew	+960,000	$9.55M
CRANUnew	+775,000	$7.8M
BCSSnew	+525,000	$5.29M
DNMXnew	+525,000	$5.19M
CCXIUnew	+493,000	$5.03M

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

Security	Shares change	Approx. value
BCSSUexited	-686,000	-$6.92M
SVACUexited	-556,000	-$5.72M
HCM III ACQUISITION CORPexited	-500,000	-$5.16M
BTC DEV CORPexited	-508,500	-$5.14M
OTGAUexited	-425,000	-$4.28M

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 0001193125-26-043917, largest first. % of portfolio is the value over $515,770,804, the sum of the share positions whose value is usable for ratios (method).

Security	Shares	Value	% of portfolio	Change	Timeline
SVAQUSILICON VY ACQUISITION CORP	960,000	$9.55M	1.85%	new	Timeline
CRANUCRANE HBR ACQUISITION CORP I	775,000	$7.8M	1.51%	new	Timeline
BCSSBAIN CAP GSS INVT CORP	525,000	$5.29M	1.03%	new	Timeline
DNMXDYNAMIX CORP III	525,000	$5.19M	1.01%	new	Timeline
CCXIUCHURCHILL CAP CORP XI	493,000	$5.03M	0.98%	new	Timeline
HCMAHCM III ACQUISITION CORP	500,000	$5.02M	0.97%	new	Timeline
MBVIM3-BRIGADE ACQUISITION VI CO	500,000	$5M	0.97%	new	Timeline
JACSJACKSON ACQUISITION CO II	479,098	$4.99M	0.97%	+29,098	Timeline
MESHUMESHFLOW ACQUISITION CORP	494,300	$4.94M	0.96%	new	Timeline
BDCIBTC DEV CORP	493,802	$4.94M	0.96%	new	Timeline
KBONUKARBON CAP PARTNERS CORP	489,400	$4.93M	0.96%	new	Timeline
GFUZSPRING VY ACQUISITION CORP I	474,699	$4.82M	0.94%	new	Timeline
INACINDIGO ACQUISITION CORP	475,000	$4.77M	0.93%	0	Timeline
SIMASIM ACQUISITION CORP. I	450,000	$4.77M	0.92%	0	Timeline
IGACUINVEST GREEN ACQUISITION COR	473,400	$4.75M	0.92%	new	Timeline
ATIIARCHIMEDES TECH SPAC PARTNER	448,100	$4.64M	0.9%	-51,900	Timeline
AACBARTIUS II ACQUISITION INC	450,000	$4.63M	0.9%	+17,200	Timeline
CCIICOHEN CIRCLE ACQUISIT CORP I	449,700	$4.6M	0.89%	-25,300	Timeline
LWACLIGHTWAVE ACQUISITION CORP	454,400	$4.56M	0.88%	new	Timeline
KFIIK&F GROWTH ACQUISITION CORP	441,000	$4.56M	0.88%	-59,000	Timeline
KCHVKOCHAV DEFENSE ACQUI CO	448,269	$4.55M	0.88%	+48,269	Timeline
BEBEUTGE VALUE CREATIVE SOLUTIONS	450,000	$4.47M	0.87%	new	Timeline
FIGXFIGX CAP ACQUISITION CORP.	444,400	$4.47M	0.87%	+94,400	Timeline
GTERAGLOBA TERRA ACQUISITION COR	441,501	$4.46M	0.86%	-7,699	Timeline
NSTRVIKING ACQUISITION CORP I	450,000	$4.46M	0.86%	new	Timeline
APXTAPEX TREAS CORP	450,000	$4.45M	0.86%	new	Timeline
NHICNEWHOLD INVT CORP III	425,000	$4.41M	0.85%	-25,000	Timeline
SVCCSTELLAR V CAP CORP	424,600	$4.4M	0.85%	-25,400	Timeline
SPEGSILVER PEGASUS ACQUISITION C	434,876	$4.38M	0.85%	+59,635	Timeline
PLMKPLUM ACQUISITION CORP IV	415,959	$4.35M	0.84%	-29,541	Timeline
EVOXEVOLUTION GLOBAL ACQUISITION	439,500	$4.34M	0.84%	new	Timeline
NPACNEW PROVIDENCE ACQUISITION C	422,357	$4.33M	0.84%	-8,031	Timeline
TVAITHAYER VENTURES ACQ CORP II	424,497	$4.3M	0.83%	-503	Timeline
EVACEQV VENTURES AC CORP. II	428,148	$4.29M	0.83%	-21,652	Timeline
COPLCOPLEY ACQUISITION CORP	414,191	$4.24M	0.82%	-85,809	Timeline
SDHISIDDHI ACQUISITION CORP	411,800	$4.23M	0.82%	-13,200	Timeline
OBAOXLEY BRIDGE ACQ LTD	419,600	$4.22M	0.82%	+30,600	Timeline
TDACTRANSLATIONAL DEV ACQUISITIO	400,090	$4.19M	0.81%	0	Timeline
DRDBROMAN DBDR ACQUISITION CORP	400,000	$4.17M	0.81%	-100,000	Timeline
OTGAOTG ACQUISITION CORP. I	415,800	$4.16M	0.81%	new	Timeline
DYORINSIGHT DIGITAL PARTNERS II	417,200	$4.13M	0.8%	new	Timeline
KOYNCSLM DIGITA ASSET ACQ CORP I	414,900	$4.13M	0.8%	new	Timeline
LATAGALATA ACQUISITION CORP II	414,989	$4.12M	0.8%	new	Timeline
BCARD. BORAL ARC ACQ I CORP.	406,300	$4.08M	0.79%	-93,700	Timeline
PACHPIONEER ACQUISITION I CORP	400,000	$4.02M	0.78%	-75,000	Timeline
SOCASOLARIUS CAPITAL ACQU CORP	398,600	$4.01M	0.78%	-51,400	Timeline
JENAJENA ACQUISITION CORP II	389,100	$3.97M	0.77%	-60,900	Timeline
PAIIPYROPHYTE ACQUISITION CORP.	392,800	$3.95M	0.77%	+192,994	Timeline
HVMCHIGHVIEW MERGER CORP	392,801	$3.93M	0.76%	new	Timeline
TACHTITAN ACQUISITION CORP	383,100	$3.93M	0.76%	-91,900	Timeline
AXINAXIOM INTELLIGENCE AC CORP 1	386,200	$3.89M	0.75%	+11,200	Timeline
ALDFALDEL FINL II INC	370,081	$3.88M	0.75%	-104,919	Timeline
FACCARTESIAN GROWTH CORP III	371,667	$3.83M	0.74%	-103,333	Timeline
BEAGBOLD EAGLE ACQUISITION CORP	361,500	$3.82M	0.74%	-84,800	Timeline
LAFALAFAYETTE ACQUISITION CORP	383,400	$3.8M	0.74%	new	Timeline
BLRKUBLUEROCK ACQUISITION CORP	377,800	$3.78M	0.73%	new	Timeline
BIXIBITCOIN INFRASTRUCTURE ACQUI	383,400	$3.78M	0.73%	new	Timeline
RACRITHM ACQUISITION CORP	360,400	$3.74M	0.73%	-64,221	Timeline
MKLYMCKINLEY ACQUISITION CORP	375,000	$3.74M	0.72%	new	Timeline
SZZLSIZZLE ACQUISITION CORP. II	365,756	$3.72M	0.72%	-34,246	Timeline
GSRFGSR IV ACQUISITION CORP	368,589	$3.68M	0.71%	new	Timeline
GPATGP-ACT III ACQUISITION CORP	344,000	$3.68M	0.71%	0	Timeline
SBXEUSILVERBOX CORP V	361,150	$3.64M	0.71%	new	Timeline
FACTFACT II ACQUISITION CORP	343,100	$3.57M	0.69%	-90,000	Timeline
CRAQCAL REDWOOD ACQUISITION CORP	350,951	$3.55M	0.69%	+951	Timeline
GIWGIGCAPITAL8 CORP	358,900	$3.55M	0.69%	new	Timeline
ITHAUITHAX ACQUISITION CORP III	350,000	$3.49M	0.68%	new	Timeline
TDWDTAILWIND 2.0 ACQUISITION COR	352,635	$3.47M	0.67%	new	Timeline
ANSCAGRICULTURE & NAT SOL ACQ CO	305,900	$3.42M	0.66%	-19,100	Timeline
OACCOAKTREE ACQUISITION CORP III	323,400	$3.42M	0.66%	-76,600	Timeline
GTENGORES HLDGS X INC	329,300	$3.38M	0.65%	-70,700	Timeline
PMTRPERIMETER ACQUISITION CORP I	322,903	$3.32M	0.64%	-42,097	Timeline
VHCPUVINE HILL CAP INVTS CORP II	325,000	$3.26M	0.63%	new	Timeline
HCACUHALL CHADWICK ACQUISITION CO	322,900	$3.24M	0.63%	new	Timeline
LFACULEAPFROG ACQUISITION CORP	321,394	$3.22M	0.62%	new	Timeline
ALFCENTURION ACQUISITION CORP	300,000	$3.19M	0.62%	-4,554	Timeline
BLUWBLUE WTR ACQUISITION CORP. I	306,200	$3.16M	0.61%	-43,600	Timeline
RDAGREPUBLIC DIGITAL ACQUISITION	311,200	$3.15M	0.61%	+11,400	Timeline
CEPFCANTOR EQUITY PARTNERS IV IN	296,699	$3.05M	0.59%	-3,301	Timeline
EMISEMMIS ACQUISITION CORP.	305,800	$3.05M	0.59%	new	Timeline
AEAQUACTIVATE ENERGY ACQUISIT COR	302,850	$3.03M	0.59%	new	Timeline
OYSEOYSTER ENTERPRISES II ACQUIS	298,000	$3.01M	0.58%	-27,000	Timeline
YCYAA MISSION ACQUISITION CORP	300,000	$2.99M	0.58%	new	Timeline
TWLVUTWELVE SEAS INVT CO III	300,000	$2.98M	0.58%	new	Timeline
TVATEXAS VENTURES ACQUISITION I	279,505	$2.98M	0.58%	-120,495	Timeline
VNMEVENDOME ACQUISITION CORP I	294,500	$2.96M	0.57%	+44,500	Timeline
ORIQORIGIN INVT CORP I	289,000	$2.93M	0.57%	-111,000	Timeline
GPACUGENERAL PURP ACQUISITION COR	290,400	$2.91M	0.56%	new	Timeline
LPBBLAUNCH TWO ACQUISITION CORP.	263,600	$2.77M	0.54%	-61,400	Timeline
GSHRGESHER ACQUISITION CORP. II	267,770	$2.75M	0.53%	-35,263	Timeline
TONTGRAF GLOBAL CORP	247,500	$2.66M	0.52%	0	Timeline
CUBLIONHEART HOLDINGS	250,000	$2.66M	0.52%	+50,000	Timeline
NTWONEWBURY STR II ACQUISITION C	252,300	$2.63M	0.51%	-47,700	Timeline
DMIIDRUGS MADE IN AMER ACQ II CO	265,500	$2.63M	0.51%	new	Timeline
POLEANDRETTI ACQUISITION CORP II	250,000	$2.63M	0.51%	-38,990	Timeline
MLACMOUNTAIN LAKE ACQUISITION CO	250,000	$2.6M	0.5%	-174,388	Timeline
EGHAEGH ACQUISITION CORP.	253,146	$2.56M	0.5%	+53,146	Timeline
BACCBLUE ACQUISITION CORP.	250,000	$2.55M	0.49%	-100,000	Timeline
CEPVCANTOR EQUITY PARTNERS V INC	246,250	$2.52M	0.49%	new	Timeline
ENHAA PARADISE ACQUISITION CORP	247,979	$2.49M	0.48%	-102,021	Timeline
CRACCROWN RESV ACQUISITION CORP	247,300	$2.46M	0.48%	new	Timeline
RNGTRANGE CAP ACQUISITION CORP I	245,600	$2.45M	0.47%	new	Timeline
TMSLIVE OAK ACQUISITION CORP V	234,600	$2.42M	0.47%	-44,833	Timeline
DSACUDAEDALUS SPL ACQUISITION COR	240,100	$2.41M	0.47%	new	Timeline
CHECCHENGHE ACQUISITION III CO	239,000	$2.38M	0.46%	new	Timeline
SCIIUSC II ACQUISITION CORP	235,800	$2.37M	0.46%	new	Timeline
HYACHAYMAKER ACQUISITION CORP IV	206,700	$2.35M	0.46%	-68,300	Timeline
FGMCFG MERGER II CORP	231,000	$2.32M	0.45%	-52,100	Timeline
FERAFIFTH ERA ACQUISITION CORP I	225,000	$2.32M	0.45%	0	Timeline
IPCXINFLECTION PT ACQUISITION CO	224,543	$2.28M	0.44%	-50,457	Timeline
PELIPELICAN ACQUISITION CORP SHS (	224,200	$2.28M	0.44%	+24,200	Timeline
NMPNMP ACQUISITION CORP	223,985	$2.25M	0.44%	0	Timeline
LEGTLEGATO MERGER CORP III	203,200	$2.21M	0.43%	-121,800	Timeline
PCAPPROCAP ACQUISITION CORP	209,200	$2.12M	0.41%	+34,600	Timeline
VCICVINE HILL CAP INVT CORP.	195,980	$2.11M	0.41%	-79,020	Timeline
FTWEQV VENTURES ACQUISITION C-A	200,270	$2.1M	0.41%	-49,730	Timeline
SOULSOULPOWER ACQUISITION CORP	205,000	$2.08M	0.4%	-63,734	Timeline
ONENHENNESSY CAP INVT CORP VII	200,000	$2.07M	0.4%	-307,043	Timeline
XRPNARMADA ACQUISITION CORP II	200,000	$2.05M	0.4%	-100,000	Timeline
WENNWEN ACQUISITION CORP	202,229	$2.04M	0.4%	+77,000	Timeline
BLZRTRAILBLAZER ACQUISITION CORP	201,800	$2.02M	0.39%	new	Timeline
TACOBERTO ACQUISITION CORP	195,000	$1.98M	0.38%	+15,600	Timeline
SBXDFSILVERBOX CORP IV	186,353	$1.97M	0.38%	-13,647	Timeline
MACIMELAR ACQUISITION CORP. I	183,612	$1.95M	0.38%	-51,800	Timeline
CCIXCHURCHILL CAPITAL CORP IX	175,000	$1.86M	0.36%	-100,000	Timeline
AEXAAMERICAN EXCEPTIONALISM ACQU	162,100	$1.85M	0.36%	-38,900	Timeline
CHACCRANE HARBOR ACQU CORP - A	165,800	$1.79M	0.35%	-359,200	Timeline
FCRSFUTURECREST ACQUISITION CORP	175,000	$1.77M	0.34%	new	Timeline
SACUSAFEGUARD ACQUISITION CORP	174,479	$1.76M	0.34%	new	Timeline
LPAALAUNCH ONE ACQUISITION CORP	160,500	$1.7M	0.33%	-39,500	Timeline
TLNCTALON CAP CORP	165,600	$1.67M	0.32%	new	Timeline
MRLNMERLIN INC	150,000	$1.61M	0.31%	-100,000	Timeline
AAMAA MISSION ACQUISITION COR-A	150,000	$1.6M	0.31%	0	Timeline
CAEPCANTOR EQUITY PARTNERS III I	150,000	$1.53M	0.3%	-20,000	Timeline
DAAQDIGITAL ASSET ACQUISITION CO	150,000	$1.52M	0.3%	+114,062	Timeline
RAAQREAL ASSET ACQUISITION CORP	147,879	$1.51M	0.29%	+47,879	Timeline
WLACWILLOW LANE ACQUISITION CORP	114,103	$1.44M	0.28%	-35,897	Timeline
VLOSVELOS ACQUISITION I CORP	135,000	$1.44M	0.28%	-15,000	Timeline
SPKLSPARK I ACQUISITION CORP	125,000	$1.43M	0.28%	0	Timeline
RTACRENATUS TACTICAL ACQUIS	125,000	$1.33M	0.26%	0	Timeline
HDRNGIGCAPITAL7 CORP	125,000	$1.32M	0.26%	-100,000	Timeline
MCGAYORKVILLE ACQUISITION CORP.	125,000	$1.27M	0.25%	0	Timeline
QUMSQUANTUMSPHERE ACQUISITION CO	125,000	$1.25M	0.24%	new	Timeline
CEPTCANTOR EQUITY PARTNERS II IN	99,500	$1.12M	0.22%	0	Timeline
VACHVOYAGER ACQUISITION CORP	100,000	$1.07M	0.21%	0	Timeline
IPEXINFLECTION POINT ACQU CORP V	100,000	$1.03M	0.2%	0	Timeline
CHPGCHAMPIONSGATE ACQUISITION CO	100,000	$1.02M	0.2%	0	Timeline
KYIVKYIVSTAR GROUP LTD	108,966	$999K	0.19%	-15,250	Timeline
DYNCDYNAMIX CORP	87,400	$900K	0.17%	0	Timeline
IRHOUIRON HORSE ACQUISIT II CORP	88,000	$875K	0.17%	new	Timeline
EL PASO ENERGY CAP TR IEL PASO ENERGY CAP TR I	17,531	$862K	0.17%	new
LPCVULAUNCHPAD CADENZA ACQU CORP	84,200	$840K	0.16%	new	Timeline
KRSPRICE ACQUISITION CORP 3	79,200	$814K	0.16%	new	Timeline
ONCH1RT ACQUISITION CORP.	79,600	$812K	0.16%	0	Timeline
CEPOCANTOR EQUITY PARTNERS I INC	75,000	$781K	0.15%	0	Timeline
INFQINFLEQTION INC	50,000	$780K	0.15%	-92,500	Timeline
WTGWINTERGREEN ACQUISITION CORP	75,000	$763K	0.15%	0	Timeline
ALCYFALCHEMY INVTS ACQUISITN CORP	50,000	$710K	0.14%	-50,000	Timeline
IMSRTERRESTRIAL ENERGY INC	122,000	$581K	0.11%	new	Timeline
SVIASILVIA INC	190,833	$573K	0.11%	new	Timeline
DMAADRUGS MADE IN AMER ACQUTN CO	50,000	$519K	0.1%	0	Timeline
ADACUAMERICAN DRIVE ACQUISITION C	50,000	$498K	0.1%	new	Timeline
HAYMAKER ACQUISITION CORP IVHAYMAKER ACQUISITION CORP IV	249,249	$386K	0.07%	-198,351
FRNMPERCEPTIVE CAP SOLUTIONS COR	20,000	$261K	0.05%	new	Timeline
NWAXUNEW AMER ACQUISITION I CORP	24,375	$254K	0.05%	new	Timeline
CRANE HBR ACQUISITION CORPCRANE HBR ACQUISITION CORP	311,985	$250K	0.05%	-413,015
IMSRWTERRESTRIAL ENERGY INC	152,500	$226K	0.04%	new	Timeline
WLACWWILLOW LANE ACQUISITION CORP	50,000	$222K	0.04%	-10,000	Timeline
VCICWVINE HILL CAP INVT CORP.	92,500	$166K	0.03%	-7,500	Timeline
TVACWTEXAS VENTURES ACQUISITION I	175,000	$158K	0.03%	-25,000	Timeline
LEGATO MERGER CORP IIILEGATO MERGER CORP III	370,000	$155K	0.03%	-179,900
ALDFWALDEL FINL II INC	275,000	$151K	0.03%	0	Timeline
BEAGRBOLD EAGLE ACQUISITION CORP	450,000	$144K	0.03%	-10,000	Timeline
ESHARESH ACQUISITION CORP	550,000	$138K	0.03%	0	Timeline
CCIXWCHURCHILL CAPITAL CORP IX	156,698	$135K	0.03%	-3,302	Timeline
CGCTWCARTESIAN GROWTH CORP III	169,200	$134K	0.03%	-80,800	Timeline
BCARWD. BORAL ARC ACQ I CORP.	346,400	$126K	0.02%	0	Timeline
BACCRBLUE ACQUISITION CORP.	400,000	$121K	0.02%	-50,000	Timeline
PMTRWPERIMETER ACQUISITION CORP I	165,100	$119K	0.02%	0	Timeline
DRDBWROMAN DBDR ACQUISITION CORP	187,500	$114K	0.02%	0	Timeline
BDMDBAIRD MED INVT HLDGS LTD	125,000	$114K	0.02%	0	Timeline
ATIIWARCHIMEDES TECH SPAC PARTNER	198,600	$109K	0.02%	0	Timeline
SVACWSPRING VY ACQUISITION CORP I	174,800	$109K	0.02%	new	Timeline
NEXMNEXMETALS MINING CORP.	27,600	$108K	0.02%	new	Timeline
SDHIRSIDDHI ACQUISITION CORP	500,000	$108K	0.02%	0	Timeline
SPEGRSILVER PEGASUS ACQUISITION C	388,370	$105K	0.02%	+13,129	Timeline
DYNCWDYNAMIX CORP	50,000	$100K	0.02%	0	Timeline
DNMXWDYNAMIX CORP III	287,500	$99.2K	0.02%	new	Timeline
CHENGHE ACQUISITION II COCHENGHE ACQUISITION II CO	98,700	$98.7K	0.02%	0
GTENWGORES HLDGS X INC	115,000	$97.8K	0.02%	0	Timeline
GRAF GLOBAL CORPGRAF GLOBAL CORP	210,300	$95.1K	0.02%	0
GIWWRGIGCAPITAL8 CORP	300,000	$93K	0.02%	new	Timeline
TVAIRTHAYER VENTURES ACQ CORP II	434,500	$91.2K	0.02%	0	Timeline
KCHVRKOCHAV DEFENSE ACQUI CO	376,700	$90.4K	0.02%	+51,700	Timeline
XRPNWARMADA ACQUISITION CORP II	100,000	$89K	0.02%	0	Timeline
CRAQRCAL REDWOOD ACQUISITION CORP	271,251	$87.8K	0.02%	0	Timeline
RACWSRITHM ACQUISITION CORP	145,800	$87.5K	0.02%	0	Timeline
RDAGWREPUBLIC DIGITAL ACQUISITION	149,900	$86.9K	0.02%	0	Timeline
APADRA PARADISE ACQUISITION CORP	345,220	$86.3K	0.02%	0	Timeline
CCIIWCOHEN CIRCLE ACQUISIT CORP I	123,200	$86.2K	0.02%	0	Timeline
JENA ACQUISITION CORP IIJENA ACQUISITION CORP II	500,000	$85K	0.02%	0
BAIN CAP GSS INVT CORPBAIN CAP GSS INVT CORP	129,900	$84.8K	0.02%	new
OAK WOODS ACQUISITION CORPOAK WOODS ACQUISITION CORP	344,700	$84.6K	0.02%	0
AXINRAXIOM INTELLIGENCE AC CORP 1	402,245	$84.5K	0.02%	+27,245	Timeline
EVOXWEVOLUTION GLOBAL ACQUISITION	203,400	$83.4K	0.02%	new	Timeline
HCMAWHCM III ACQUISITION CORP	166,600	$83.3K	0.02%	new	Timeline
NHICWNEWHOLD INVT CORP III	191,200	$80.3K	0.02%	0	Timeline
COPLEY ACQUISITION CORPCOPLEY ACQUISITION CORP	351,600	$79.3K	0.02%	0
INACRINDIGO ACQUISITION CORP	546,911	$79.3K	0.02%	+21,911	Timeline
SOCAWSOLARIUS CAPITAL ACQU CORP	282,200	$79K	0.02%	+44,800	Timeline
FGMCRFG MERGER II CORP	141,866	$78K	0.02%	-14,134	Timeline
MLACRMOUNTAIN LAKE ACQUISITION CO	325,000	$78K	0.02%	-99,739	Timeline
CHURCHILL CAP CORP XCHURCHILL CAP CORP X	10,000	$77K	0.01%	-40,000
IPCXRINFLECTION PT ACQUISITION CO	200,000	$75.6K	0.01%	0	Timeline
OACCWOAKTREE ACQUISITION CORP III	90,000	$74.2K	0.01%	0	Timeline
JACKSON ACQUISITION CO IIJACKSON ACQUISITION CO II	275,000	$74.2K	0.01%	0
LOKVWLIVE OAK ACQUISITION CORP V	75,000	$73.9K	0.01%	0	Timeline
PACHWPIONEER ACQUISITION I CORP	304,700	$73.1K	0.01%	+25,000	Timeline
APXTWAPEX TREAS CORP	262,400	$72.9K	0.01%	new	Timeline
BLUWWBLUE WTR ACQUISITION CORP. I	124,900	$72.7K	0.01%	0	Timeline
BDCIWBTC DEV CORP	124,900	$71.8K	0.01%	new	Timeline
KFIIRK&F GROWTH ACQUISITION CORP	500,000	$71.4K	0.01%	0	Timeline
TACHWTITAN ACQUISITION CORP	224,900	$70.8K	0.01%	0	Timeline
SVCCWSTELLAR V CAP CORP	227,039	$70.4K	0.01%	0	Timeline
HVIIRHENNESSY CAP INVT CORP VII	250,000	$69.8K	0.01%	-162,204	Timeline
GSRFRGSR IV ACQUISITION CORP	28,400	$69.7K	0.01%	new	Timeline
SPKLWSPARK I ACQUISITION CORP	218,900	$69K	0.01%	0	Timeline
MBVIWM3-BRIGADE ACQUISITION VI CO	180,732	$66.9K	0.01%	new	Timeline
TDWDRTAILWIND 2.0 ACQUISITION COR	406,335	$66.6K	0.01%	new	Timeline
OTGAWOTG ACQUISITION CORP. I	208,200	$66.6K	0.01%	new	Timeline
GTERRGLOBA TERRA ACQUISITION COR	508,332	$66.1K	0.01%	+29,132	Timeline
VIKING ACQUISITION CORP IVIKING ACQUISITION CORP I	163,800	$63.9K	0.01%	new
PLMKWPLUM ACQUISITION CORP IV	212,700	$63.8K	0.01%	0	Timeline
DYORWINSIGHT DIGITAL PARTNERS II	192,400	$63.5K	0.01%	new	Timeline
LPBBWLAUNCH TWO ACQUISITION CORP.	175,000	$62.6K	0.01%	0	Timeline
GIGGWGIGCAPITAL7 CORP	150,000	$61.5K	0.01%	-100,000	Timeline
KOYNWCSLM DIGITA ASSET ACQ CORP I	174,900	$61.2K	0.01%	new	Timeline
ALCWFALCHEMY INVTS ACQUISITN CORP	289,500	$60.8K	0.01%	0	Timeline
OYSEROYSTER ENTERPRISES II ACQUIS	300,000	$60K	0.01%	0	Timeline
ANSCWAGRICULTURE & NAT SOL ACQ CO	186,702	$59.7K	0.01%	0	Timeline
ARTIUS II ACQUISITION INCARTIUS II ACQUISITION INC	175,000	$57.8K	0.01%	0
GPATWGP-ACT III ACQUISITION CORP	210,700	$56.8K	0.01%	+25,000	Timeline
BACQRINFLECTION PT ACQUISITION CORP	75,000	$55.1K	0.01%	-14,700	Timeline
RTACWRENATUS TACTICAL ACQUIS	67,500	$54.9K	0.01%	0	Timeline
QETARQUETTA ACQUISITION CORP	37,500	$54.6K	0.01%	0	Timeline
BIXIWBITCOIN INFRASTRUCTURE ACQUI	191,700	$53.7K	0.01%	new	Timeline
BAYARBAYVIEW ACQUISITION CORP	257,400	$53.4K	0.01%	0	Timeline
POLEWANDRETTI ACQUISITION CORP II	181,735	$52.4K	0.01%	+28,598	Timeline
SZZLRSIZZLE ACQUISITION CORP. II	325,000	$52K	0.01%	0	Timeline
NFGCNEW FOUND GOLD CORP	17,500	$51.8K	0.01%	new	Timeline
GSHRWGESHER ACQUISITION CORP. II	124,800	$51.2K	0.01%	0	Timeline
LATAWGALATA ACQUISITION CORP II	133,200	$50K	0.01%	new	Timeline
NTWOWNEWBURY STR II ACQUISITION C	187,400	$49.7K	0.01%	0	Timeline
FIGXWFIGX CAP ACQUISITION CORP.	187,500	$49.7K	0.01%	+25,000	Timeline
LWACWLIGHTWAVE ACQUISITION CORP	214,544	$49.4K	0.01%	new	Timeline
PELIRPELICAN ACQUISITION CORP RT	200,000	$46K	0.01%	0	Timeline
GTERWGLOBA TERRA ACQUISITION COR	356,327	$44.8K	0.01%	+21,927	Timeline
ALFUWCENTURION ACQUISITION CORP	137,551	$44K	0.01%	+30,524	Timeline
VLOSWVELOS ACQUISITION I CORP	47,390	$41.5K	0.01%	-600	Timeline
EQV VENTURES AC CORP. IIEQV VENTURES AC CORP. II	116,600	$40.8K	0.01%	0
LAFARLAFAYETTE ACQUISITION CORP	300,000	$40.5K	0.01%	new	Timeline
CRACRCROWN RESV ACQUISITION CORP	197,300	$40.4K	0.01%	new	Timeline
RNGTWRANGE CAP ACQUISITION CORP I	122,800	$39.3K	0.01%	new	Timeline
MKLYRMCKINLEY ACQUISITION CORP	300,000	$39K	0.01%	new	Timeline
ORIQWORIGIN INVT CORP I	200,000	$38.6K	0.01%	0	Timeline
ALPHATIME ACQUISITION CORPALPHATIME ACQUISITION CORP	195,000	$37.5K	0.01%	-17,900
SIMAWSIM ACQUISITION CORP. I	172,500	$37.2K	0.01%	0	Timeline
OBAWWOXLEY BRIDGE ACQ LTD	162,000	$35.7K	0.01%	0	Timeline
DMIIRDRUGS MADE IN AMER ACQ II CO	250,000	$35K	0.01%	new	Timeline
NMPARNMP ACQUISITION CORP	173,985	$34.8K	0.01%	0	Timeline
FACTWFACT II ACQUISITION CORP	98,101	$34.3K	0.01%	+23,101	Timeline
KVACWKEEN VISION ACQUISITION CORP	662,700	$33.9K	0.01%	0	Timeline
YCYWSAA MISSION ACQUISITION CORP	150,000	$33K	0.01%	new	Timeline
TACOWBERTO ACQUISITION CORP	87,500	$33K	0.01%	0	Timeline
EMISREMMIS ACQUISITION CORP.	200,000	$32.1K	0.01%	new	Timeline
BKHARBLACK HAWK ACQUISITION CORP	19,700	$29.7K	0.01%	0	Timeline
TDACWTRANSLATIONAL DEV ACQUISITIO	100,000	$29.5K	0.01%	0	Timeline
LPAAWLAUNCH ONE ACQUISITION CORP	112,500	$28.1K	0.01%	0	Timeline
KDKRWKODIAK AI INC.	17,500	$26.8K	0.01%	-2,500	Timeline
QUMSRQUANTUMSPHERE ACQUISITION CO	125,000	$26.3K	0.01%	new	Timeline
MCGAWYORKVILLE ACQUISITION CORP.	49,900	$24.9K	<0.01%	0	Timeline
TLNCWTALON CAP CORP	45,200	$24.9K	<0.01%	new	Timeline
HVMCWHIGHVIEW MERGER CORP	89,300	$24.1K	<0.01%	new	Timeline
PYROPHYTE ACQUISITION CORP.PYROPHYTE ACQUISITION CORP.	59,600	$23.8K	<0.01%	0
RFAIRRF ACQUISITION CORP II	197,600	$23.7K	<0.01%	0	Timeline
FUTURECREST ACQUISITION CORPFUTURECREST ACQUISITION CORP	30,500	$22.9K	<0.01%	new
CHECWCHENGHE ACQUISITION III CO	119,500	$22.7K	<0.01%	new	Timeline
DAICCID HOLDCO INC	50,000	$21.6K	<0.01%	-50,000	Timeline
PCAPWPROCAP ACQUISITION CORP	58,200	$21.6K	<0.01%	0	Timeline
CHPGRCHAMPIONSGATE ACQUISITION CO	125,000	$20.9K	<0.01%	0	Timeline
BRRWWSILVIA INC	32,350	$20.9K	<0.01%	new	Timeline
MELAR ACQUISITION CORP. IMELAR ACQUISITION CORP. I	148,800	$20.8K	<0.01%	0
VNMEWVENDOME ACQUISITION CORP I	74,900	$20.6K	<0.01%	0	Timeline
AFJKRAIMEI HEALTH TECHNOLOGY CO L	52,900	$19.8K	<0.01%	-95,600	Timeline
OIOWWOIO GROUP	200,800	$19.7K	<0.01%	0	Timeline
SILVERBOX CORP IVSILVERBOX CORP IV	70,000	$19.6K	<0.01%	0
DAICWCID HOLDCO INC	231,897	$18.6K	<0.01%	-83,700	Timeline
EQV VENTURES ACQUISITION COREQV VENTURES ACQUISITION COR	32,800	$16.1K	<0.01%	0
BLZRWTRAILBLAZER ACQUISITION CORP	33,200	$15.9K	<0.01%	new	Timeline
IBACRIB ACQUISITION CORP	197,600	$15.5K	<0.01%	0	Timeline
WENNWWEN ACQUISITION CORP	49,700	$15.4K	<0.01%	+400	Timeline
OSRHWOSR HEALTH INC	299,900	$15.3K	<0.01%	0	Timeline
DMAARDRUGS MADE IN AMER ACQUTN CO	75,000	$14K	<0.01%	0	Timeline
ATMCWALPHATIME ACQUISITION CORP RED	195,335	$13.7K	<0.01%	-17,565	Timeline
VACHWVOYAGER ACQUISITION CORP	62,500	$13K	<0.01%	0	Timeline
AA MISSION ACQUISITI…AA MISSION ACQUISITION …	75,000	$12.7K	<0.01%	0
ONCHW1RT ACQUISITION CORP.	19,900	$11.5K	<0.01%	0	Timeline
CLASSOVER HLDGS INCCLASSOVER HLDGS INC	90,000	$10.8K	<0.01%	0
RICE ACQUISITION CORP 3RICE ACQUISITION CORP 3	13,200	$10.6K	<0.01%	new
WINTERGREEN ACQUISITION CORPWINTERGREEN ACQUISITION CORP	75,000	$10.5K	<0.01%	0
Oak Woods Acquisition CorpOak Woods Acquisition Corp	344,700	$10.4K	<0.01%	0
SCAGWSCAGE FUTURE	160,800	$10.1K	<0.01%	0	Timeline
CN HEALTHY FOOD TECH GROUP CCN HEALTHY FOOD TECH GROUP C	99,000	$8.91K	<0.01%	0
CRACWCROWN RESV ACQUISITION CORP	98,650	$8.63K	<0.01%	new	Timeline
ASPIRE BIOPHARMA HLDGS INC …ASPIRE BIOPHARMA HLDGS INC COM	50,000	$6.59K	<0.01%	0
MKDWWMKDWELL TECH INC	346,900	$5.24K	<0.01%	0	Timeline
FUSEWFUSEMACHINES INC	72,900	$5.11K	<0.01%	new	Timeline
DISTOKEN ACQUISITION CORPDISTOKEN ACQUISITION CORP	403,612	$4.04K	<0.01%	0
ABLVWABLE VIEW GLOBAL INC	124,900	$3.6K	<0.01%	0	Timeline
CYCUWCYCURION INC	75,000	$2.55K	<0.01%	0	Timeline
00	244,654	$2.54K	<0.01%	0
ASBPWASPIRE-LAKEWOOD HOLDINGS INC	124,924	$2.06K	<0.01%	0	Timeline
LIMNWLIMINATUS PHARMA INC.	47,500	$1.73K	<0.01%	0	Timeline
NXATWNEXUS ADVANCED TECHNOLOGIES	50,000	$1.5K	<0.01%	0	Timeline
RMSGWREAL MESSENGER CORP.	21,000	$1.05K	<0.01%	0	Timeline
NIVFWNEWGENIVF GROUP LIMITED	40,000	$788	<0.01%	0	Timeline
CDTTWCDT EQUITY INC	105,000	$578	<0.01%	0	Timeline

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).

Security	Type	Amount	Value	Change
RYROYAL BK CDA Stock	call	500,000	$85.3M	+300,000
HYGISHARES TR IBOXX HI YD ETF	put	950,000	$76.6M	+550,000
ENBENBRIDGE INC Stock	call	1,020,600	$48.8M	+520,600
LQDISHARES TR SHS	put	400,000	$44.1M	0
SLFSUN LIFE FINANCIAL INC. Stock	call	700,000	$43.7M	+50,000
PBAPEMBINA PIPELINE CORP Stock	call	792,600	$30.2M	new
BNSBANK NOVA SCOTIA B C Stock	call	251,200	$18.5M	0
GDXJVANECK ETF TRUST JUNIOR GOLD MINE	put	31,500	$3.58M	+25,000
URAGLOBAL X FDS GLOBAL X URANIUM	put	50,000	$2.14M	new
AMZNAMAZON COM INC COM	put	7,000	$1.62M	new
AMZNAMAZON COM INC COM	call	7,000	$1.62M	new
KYIVKYIVSTAR GROUP LTD ORD SHS	put	65,200	$846K	new
SOFISOFI TECHNOLOGIES INC Stock	put	30,000	$785K	new
SOFISOFI TECHNOLOGIES INC Stock	call	30,000	$785K	new
SVIASILVIA INC Common Stock	call	20,000	$70.6K	new

Principal amounts

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

Security	Type	Amount	Value	Change
EQUINOX GOLD CORPEQUINOX GOLD CORP NOTE 4.750%10/1	principal	2,500,000	$5.88M	0
FORTUNA MNG CORPFORTUNA MNG CORP NOTE 3.750% 6/3	principal	2,000,000	$3.4M	+1,000,000
PPL CAP FDG INCPPL CAP FDG INC NOTE 2.875% 3/1	principal	2,000,000	$2.2M	new
SILVERCORP METALS INCSILVERCORP METALS INC NOTE 4.750%12/1	principal	1,000,000	$2.04M	new
BLACKBERRY LTDBLACKBERRY LTD NOTE 3.000% 2/1	principal	500,000	$632K	0
CENTERPOINT ENERGY INCCENTERPOINT ENERGY INC NOTE 4.250% 8/1	principal	400,000	$438K	0

Sold out in Q4 2025

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

Security	Shares before	Value before	Type
TDTORONTO DOMINION BK ONT	270,000	$21.6M	call
BCSSUBAIN CAP GSS INVT CORP	686,000	$6.92M	shares
ARKKARK ETF TR	80,000	$6.91M	put
SVACUSPRING VY ACQUISITION CORP I	556,000	$5.72M	shares
HCM III ACQUISITION CORPHCM III ACQUISITION CORP	500,000	$5.16M	shares
BTC DEV CORPBTC DEV CORP	508,500	$5.14M	shares
OTGAUOTG ACQUISITION CORP. I	425,000	$4.28M	shares
LIGHTWAVE ACQUISITION CORPLIGHTWAVE ACQUISITION CORP	400,000	$4.02M	shares
GALATA ACQUISITION CORP IIGALATA ACQUISITION CORP II	400,000	$3.99M	shares
MBVIUM3-BRIGADE ACQUISITION VI CO	393,300	$3.98M	shares
KOYNUCSLM DIGITA ASSET ACQ CORP I	350,000	$3.54M	shares
MKLYUMCKINLEY ACQUISITION CORP	301,200	$3.01M	shares
DMIIUDRUGS MADE IN AMER ACQ II CO	250,000	$2.49M	shares
NABORS ENERGY TRANSITION CORNABORS ENERGY TRANSITION COR	200,000	$2.24M	shares
GSRFUGSR IV ACQUISITION CORP	200,000	$2.03M	shares
EMMIS ACQUISITION CORP.EMMIS ACQUISITION CORP.	200,000	$2M	shares
CHENGHE ACQUISITION III COCHENGHE ACQUISITION III CO	200,000	$2M	shares
COLUMBUS CIRCLE CAP CORP. ICOLUMBUS CIRCLE CAP CORP. I	190,000	$1.92M	shares
RFAIRF ACQUISITION CORP II	175,100	$1.88M	shares
HVMCUHIGHVIEW MERGER CORP	180,000	$1.82M	shares
Shopify IncShopify Inc	1,563,000	$1.65M	principal
TLNCUTALON CAP CORP	135,900	$1.37M	shares
QUMSUQUANTUMSPHERE ACQUISITION CO	125,000	$1.27M	shares
IBACIB ACQUISITION CORP	100,000	$1.06M	shares
BLZRUTRAILBLAZER ACQUISITION CORP	100,000	$1.02M	shares
FIRST MAJESTIC SILVER CORPFIRST MAJESTIC SILVER CORP	915,000	$991K	principal
FCRSUFUTURECREST ACQUISITION CORP	81,500	$864K	shares
METAMETA PLATFORMS INC	500	$367K	put
METAMETA PLATFORMS INC	500	$367K	call
PYPLPAYPAL HLDGS INC	4,000	$268K	put
PYPLPAYPAL HLDGS INC	4,000	$268K	call
Spring Valley Acquisition C…Spring Valley Acquisition Corp II	140,000	$182K	shares
Spring Valley Acquisition C…Spring Valley Acquisition Corp II	225,000	$117K	shares
NABORS ENERGY TRANSITION CORNABORS ENERGY TRANSITION COR	196,660	$55.1K	shares
GAUGALIANO GOLD INC	25,000	$54.4K	shares
COLUMBUS CIRCLE CAP CORP. ICOLUMBUS CIRCLE CAP CORP. I	41,900	$50.3K	shares
ISLWFISRAEL ACQUISITIONS CORP WT EX	225,000	$41.2K	shares
BRAND ENGAGEMENT NETWORK INCBRAND ENGAGEMENT NETWORK INC	150,000	$31.5K	shares
HORIZON SPACE ACQUSTN I CORPHORIZON SPACE ACQUSTN I CORP	180,900	$31.2K	shares
ALPHAVEST ACQUISITION CORPALPHAVEST ACQUISITION CORP	50,000	$30.5K	shares
RTS/IRON HORSE ACQUISITIONS…RTS/IRON HORSE ACQUISITIONS CORP …	30,000	$23.1K	shares
DYCQRDT CLOUD ACQUISITION CORP RT 0	98,900	$20.3K	shares
SAFXXCF GLOBAL INC	13,332	$17.5K	shares
BOWEN ACQUISITION CORPBOWEN ACQUISITION CORP	50,000	$11.3K	shares
Horizon Space Acquisition I…Horizon Space Acquisition I Corp	180,900	$10.5K	shares
FORLWWTS/FOUR LEAF ACQUISITION CORPORA…	271,800	$9.72K	shares

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).

Filing	Role	Amendment	Filed	Accepted	Ingested
13F-HR 0001193125-26-043917	base		2026-02-10	acceptance time not in the bulk data set	2026-10-07 03:01:36 UTC