Radcliffe Capital Management, L.P.
Follow13F filer, CIK 1218275, BALA CYNWYD, PA
Radcliffe Capital Management, L.P. reported $875,921,743 across 49 holdings for the quarter ended 2024-12-31, in a 13F-HR filed 2025-02-14. Its ten largest share positions make up 70.88% of the portfolio.
Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001104659-25-013527
- Period
- 2024-12-31
- Reported value
- $876M
- Holdings
- 49
- Top 10 weight
- 70.88%
- New
- 17
- Sold out
- 7
Largest buys vs the previous quarter
| Security | Shares change | Approx. value |
|---|---|---|
| GSR III ACQUISITION CORPnew | +173,900 | $1.72M |
| TDACUnew | +119,539 | $1.2M |
| VCICnew | +28,896 | $290K |
| Bitcoin Depot Incadded | +163,854 | $265K |
| HCM II ACQUISITION CORPnew | +13,400 | $134K |
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 |
|---|---|---|
| AAMexited | -543,573 | -$5.45M |
| INFLECTION PT ACQUISITN CRPexited | -148,193 | -$1.59M |
| ALCYFexited | -47,486 | -$516K |
| ESHAexited | -40,000 | -$424K |
| VINE HILL CAP INVT CORP.exited | -28,896 | -$289K |
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 2024
Share positions as resolved from 13F-HR 0001104659-25-013527, largest first. % of portfolio is the value over $875,921,743, the sum of the share positions whose value is usable for ratios (method).
| Security | History | Shares | Value | % of portfolio | Change | Latest event | Timeline |
|---|---|---|---|---|---|---|---|
| ARES ACQUISITION CORP IIARES ACQUISITION CORP II | 200,000 | $2.2M | 0.25% | 0 | |||
| RIGEL RESOURCE ACQ CORPRIGEL RESOURCE ACQ CORP | 172,362 | $1.99M | 0.23% | 0 | |||
| GSR III ACQUISITION CORPGSR III ACQUISITION CORP | 173,900 | $1.72M | 0.2% | new | |||
| TDACUTRANSLATIONAL DEV ACQUISITIO | 119,539 | $1.2M | 0.14% | new | Timeline | ||
| Bitcoin Depot IncBitcoin Depot Inc | 285,835 | $463K | 0.05% | +163,854 | |||
| HYACHAYMAKER ACQUISITION CORP IV | 37,821 | $407K | 0.05% | 0 | Timeline | ||
| VCICVINE HILL CAP INVT CORP. | 28,896 | $290K | 0.03% | new | Timeline | ||
| HCM II ACQUISITION CORPHCM II ACQUISITION CORP | 13,400 | $134K | 0.02% | new | |||
| INFLECTION PT ACQUISITN CRPINFLECTION PT ACQUISITN CRP | 32,962 | $16.5K | <0.01% | 0 | |||
| ARES ACQUISITION CORP II-28ARES ACQUISITION CORP II-28 | 52,042 | $7.86K | <0.01% | 0 | |||
| AA MISSION ACQUISITI…AA MISSION ACQUISITION … | 87,238 | $5.67K | <0.01% | -298,462 | |||
| ALCWFALCHEMY INVTS ACQUISITN CORP | 30,000 | $2.71K | <0.01% | 0 | Timeline | ||
| VCICWVINE HILL CAP INVT CORP. | 14,448 | $2.31K | <0.01% | new | Timeline |
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 |
|---|---|---|---|---|
| DIGITALOCEAN HLDGS INCDIGITALOCEAN HLDGS INC CNV | principal | 176,235,008 | $156M | +2,500,000 |
| LIVONGO HEALTH INCLIVONGO HEALTH INC NOTE 0.875% 6/0 | principal | 93,004,000 | $90.9M | +59,004,000 |
| TELADOC HEALTH INCTELADOC HEALTH INC NOTE 1.250% 6/0 | principal | 91,000,000 | $79.4M | +10,000,000 |
| MAGNITE INCMAGNITE INC NOTE 0.250% 3/1 | principal | 69,767,000 | $64.5M | 0 |
| NEW MTN FIN CORPNEW MTN FIN CORP BOND | principal | 53,721,000 | $53.8M | +3,691,000 |
| UNITY SOFTWARE INCUNITY SOFTWARE INC NOTE 11/1 | principal | 54,619,000 | $49.8M | +9,381,000 |
| FIVERR INTL LTDFIVERR INTL LTD NOTE 11/0 | principal | 35,677,000 | $33.8M | +15,000,000 |
| EXACT SCIENCES CORPEXACT SCIENCES CORP NOTE 1.000% 1/1 | principal | 31,770,000 | $31.7M | new |
| ETSY INCETSY INC NOTE 0.250% 6/1 | principal | 38,000,000 | $31.1M | 0 |
| RINGCENTRAL INCRINGCENTRAL INC NOTE 3/1 | principal | 31,730,000 | $29.5M | new |
| ENPHASE ENERGY INCENPHASE ENERGY INC NOTE 3/0 | principal | 35,139,000 | $28.8M | +16,139,000 |
| AFFIRM HLDGS INCAFFIRM HLDGS INC NOTE 11/1 | principal | 25,822,000 | $23.3M | +21,250,000 |
| JAZZ INVESTMENTS I LTDJAZZ INVESTMENTS I LTD NOTE 2.000% 6/1 | principal | 20,940,000 | $21.2M | -10,000,000 |
| PROSPECT CAP CORPPROSPECT CAP CORP BOND | principal | 19,662,000 | $19.5M | +5,836,000 |
| BANDWIDTH INCBANDWIDTH INC NOTE 0.500% 4/0 | principal | 24,400,000 | $19.5M | new |
| REPAY HLDGS CORPREPAY HLDGS CORP NOTE 2/0 | principal | 20,084,000 | $18.7M | new |
| FIVE9 INCFIVE9 INC NOTE 0.500% 6/0 | principal | 19,329,000 | $18.7M | new |
| UPWORK INCUPWORK INC NOTE 0.250% 8/1 | principal | 15,600,000 | $14.4M | +15,000,000 |
| PACIRA BIOSCIENCES INCPACIRA BIOSCIENCES INC NOTE 0.750% 8/0 | principal | 10,988,000 | $10.6M | 0 |
| ETSY INCETSY INC NOTE 0.125% 9/0 | principal | 10,100,000 | $8.68M | +6,075,000 |
| ENPHASE ENERGY INCENPHASE ENERGY INC NOTE 3/0 | principal | 7,300,000 | $6.8M | new |
| ALARM COM HLDGS INCALARM COM HLDGS INC NOTE 1/1 | principal | 7,000,000 | $6.6M | new |
| ZSCALER INCZSCALER INC NOTE 0.125% 7/0 | principal | 5,000,000 | $6.2M | 0 |
| LYFT INCLYFT INC NOTE 1.500% 5/1 | principal | 6,000,000 | $5.92M | +1,000,000 |
| RINGCENTRAL INCRINGCENTRAL INC NOTE 3/0 | principal | 5,963,000 | $5.88M | new |
| BLACKLINE INCBLACKLINE INC NOTE 3/1 | principal | 5,500,000 | $5.16M | 0 |
| DROPBOX INCDROPBOX INC NOTE 3/0 | principal | 5,000,000 | $5.1M | 0 |
| AKAMAI TECHNOLOGIES INCAKAMAI TECHNOLOGIES INC NOTE 0.375% 9/0 | principal | 5,000,000 | $5.01M | 0 |
| VISHAY INTERTECHNOLOGY INCVISHAY INTERTECHNOLOGY INC NOTE 2.250% 9/1 | principal | 5,000,000 | $4.46M | +2,500,000 |
| NICE LTDNICE LTD NOTE 9/1 | principal | 2,500,000 | $2.39M | new |
| AIRBNB INC CLASS AAIRBNB INC CLASS A CLASS A | principal | 2,500,000 | $2.35M | new |
| CONMED CORPCONMED CORP NOTE 2.250% 6/1 | principal | 2,500,000 | $2.32M | new |
| BILL HOLDINGS INCBILL HOLDINGS INC NOTE 4/0 | principal | 2,302,000 | $2.04M | 0 |
| OKTA INCOKTA INC NOTE 0.125% 9/0 | principal | 1,600,000 | $1.54M | 0 |
| CABLE ONE INCCABLE ONE INC NOTE 3/1 | principal | 1,000,000 | $928K | new |
| DAYFORCE INCDAYFORCE INC NOTE 0.250% 3/1 | principal | 500,000 | $480K | 0 |
Sold out in Q4 2024
Positions in the previous quarter's report that this quarter's report no longer lists.
| Security | Shares before | Value before | Type |
|---|---|---|---|
| AAMAA MISSION ACQUISITION COR-A | 543,573 | $5.45M | shares |
| CHEGG INCCHEGG INC | 1,732,000 | $1.66M | principal |
| INFLECTION PT ACQUISITN CRPINFLECTION PT ACQUISITN CRP | 148,193 | $1.59M | shares |
| ALCYFALCHEMY INVTS ACQUISITN CORP | 47,486 | $516K | shares |
| ESHAESH ACQUISITION CORP | 40,000 | $424K | shares |
| VINE HILL CAP INVT CORP.VINE HILL CAP INVT CORP. | 28,896 | $289K | shares |
| HCM II ACQUISITION CORPHCM II ACQUISITION CORP | 13,400 | $134K | shares |
How Q4 2024 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 0001104659-25-013527 | base | 2025-02-14 | acceptance time not in the bulk data set |