HGC Investment Management Inc. Q2 2025 Filing

Filed August 14, 2025

Portfolio Value

$359.9M

Holdings

102

Report Date

Q2 2025

Filing Type

13F-HR

All Holdings (102 positions)

#	Stock	Shares	Value	% Portfolio
1	JACSJACKSON ACQUISITION CO II	1,575,200	$425.3M	118.16%
2	MLACMOUNTAIN LAKE ACQUISITION CO	700,000	$119.0M	33.06%
3	—ANSCW US 31 Dec 28 C11.5	503,500	$75.5M	20.98%
4	—ALPHAVEST ACQUISITION CO-RT	200,000	$60.0M	16.67%
5	BACQBLEICHROEDER ACQUISITION COR	150,000	$52.5M	14.59%
6	BAYARBAYVIEW ACQUISITION CORP	150,000	$43.5M	12.09%
7	OAKUROAK WOODS ACQUISITION COR-RT	120,000	$26.2M	7.27%
8	DTSQDT CLOUD ACQUISITION COR-RTS	150,000	$25.5M	7.08%
9	ISRLFISRLW US 28 Feb 28 C11.5	100,800	$22.4M	6.23%
10	—AMBI/WS US 06 Mar 28 C11.5	130,905	$19.8M	5.49%
11	ALFCENTURION ACQUISITION CORP	1,750,000	$18.4M	5.11%
12	YCYAA MISSION ACQUISITION COR-A	1,705,000	$17.8M	4.94%
13	JACSJACKSON ACQUISITION CO-CL A	1,575,200	$16.2M	4.51%
14	AACBARTIUS II ACQUISITION INC	1,500,000	$15.5M	4.31%
15	FUFUFUFUW US 07 Jun 28 C11.5	50,000	$15.1M	4.20%
16	—DISTW US 30 Mar 28 C11.5	125,000	$15.0M	4.17%
17	GPATGP-ACT III ACQUISITION-A	1,375,000	$14.5M	4.03%
18	SHMDSHMDW US 25 Aug 28 C11.5	46,200	$13.9M	3.85%
19	SOULSOULPOWER ACQUISITION CORP	1,303,161	$13.3M	3.69%
20	SDHISIDDHI ACQUISITION CORP	1,250,000	$12.9M	3.58%
21	FERAFIFTH ERA ACQUISITION CORP I	1,150,760	$12.0M	3.33%
22	BTMWWBTMWW US 03 Jul 28 C11.5	28,678	$11.4M	3.17%
23	SKAASKECHERS USA INC-CL A	162,958	$10.3M	2.86%
24	RDAGREPUBLIC DIGITAL ACQUISITION	943,934	$10.1M	2.81%
25	—INFLECTION POINT ACQUISITION	950,000	$10.0M	2.77%
26	OBAOXLEY BRIDGE ACQUISITION LTD	950,000	$9.5M	2.64%
27	—ATMCW US 17 Jan 28 C11.5	300,000	$9.0M	2.51%
28	CHECCHEB/WS US 29 Jul 29 C11.5	100,000	$8.8M	2.44%
29	IBITISHARES BITCOIN TRUST	141,939	$8.7M	2.41%
30	CGCTCARTESIAN GROWTH CORP III	800,000	$8.1M	2.25%
31	CEPFCANTOR EQUITY PARTNERS III-A	750,000	$7.9M	2.20%
32	KFIIK&F GROWTH ACQUISITION CORP	750,000	$7.8M	2.15%
33	TACHTITAN ACQUISITION CORP	759,131	$7.7M	2.15%
34	PACHPIONEER ACQUISITION I CORP	743,077	$7.4M	2.07%
35	JENAJENA ACQUISITION CORP II	700,000	$7.2M	2.00%
36	MLACMOUNTAIN LAKE ACQUISITION-A	700,000	$7.2M	2.00%
37	SZZLSIZZLE ACQUISITION CORP II	650,539	$6.7M	1.86%
38	HESHess Corporation.	45,300	$6.3M	1.74%
39	GTENGORES HOLDINGS X INC	600,000	$6.2M	1.73%
40	SVACSPRING VALLEY ACQUISIT-RIGHT	43,076	$6.0M	1.68%
41	WENNWEN ACQUISITION CORP	550,000	$5.8M	1.62%
42	RENEFRENEW US 12 Jul 28 C11.5	50,000	$5.5M	1.53%
43	TVAITHAYER VENTURES ACQUISITION	525,000	$5.3M	1.48%
44	SPYSHEPHERD AVE CAPITAL ACQUISI	500,000	$5.1M	1.43%
45	FIGXFIGX CAPITAL ACQUISITION COR	500,000	$5.0M	1.39%
46	LOBLIVE OAK ACQUISITION CORP-A	450,000	$4.8M	1.34%
47	NPACNEW PROVIDENCE ACQUISITION C	450,000	$4.7M	1.31%
48	HYACHAYMAKER ACQUISITION CORP 4	415,000	$4.6M	1.28%
49	PMTRPERIMETER ACQUISITION CORP I	426,400	$4.5M	1.25%
50	LOBLIVE OAK ACQUISITION CORP V	402,960	$4.5M	1.24%
51	DNBDUN & BRADSTREET HOLDINGS IN	478,939	$4.4M	1.21%
52	OAKUWOAKUW US 17 May 28 C11.5	120,000	$3.6M	1.00%
53	YHNAYHN ACQUISITION I LTD	344,188	$3.6M	1.00%
54	AXINAXIOM INTELLIGENCE ACQUISITI	350,000	$3.5M	0.98%
55	MACIMELAR ACQUISITION CORP I	325,000	$3.4M	0.95%
56	FORLWFORLW US 12 May 28 C11.5	110,000	$3.3M	0.92%
57	FYBRFRONTIER COMMUNICATIONS PARE	89,361	$3.3M	0.90%
58	2L9BLUEPRINT MEDICINES CORP (US)	25,298	$3.2M	0.90%
59	TACOBERTO ACQUISITION CORP	300,000	$3.2M	0.89%
60	COLACOLUMBUS ACQUISITION CORP	300,000	$3.1M	0.86%
61	TVATEXAS VENTURES ACQUISITION I	300,000	$3.1M	0.85%
62	LCCCLAKESHORE ACQUISITION III CO	300,000	$3.1M	0.85%
63	BACQMAYWOOD ACQUISITION CORP	250,000	$2.6M	0.73%
64	RIBBRIBBON ACQUISITION CORP	250,000	$2.6M	0.71%
65	—ARMADA ACQUISITION CORP II	250,000	$2.6M	0.71%
66	EGHAEGH ACQUISITION CORP	250,000	$2.5M	0.71%
67	COPLCOPLEY ACQUISITION CORP	250,000	$2.5M	0.70%
68	BACCBLUE ACQUISITION CORP	250,000	$2.5M	0.70%
69	LWACLIGHTWAVE ACQUISITION CORP	245,500	$2.5M	0.69%
70	SWTXSpringworks Therapeutics Inc	48,443	$2.3M	0.63%
71	RFAIRF ACQUISITION CORP II	200,000	$2.1M	0.59%
72	NHICUNEWHOLD INVESTMENT CORP III	200,000	$2.1M	0.58%
73	—MKDWW US 31 Jul 29 C0	175,000	$2.1M	0.57%
74	CCCXUCHURCHILL CAPITAL CORP X	200,000	$2.1M	0.57%
75	—BLUE WATER ACQUISITION III	200,000	$2.0M	0.56%
76	DAICWDAICW US 17 Nov 26 C11.5	25,000	$2.0M	0.55%
77	AAGRAFRICAN AGRICULTURE INC	168,036	$1.7M	0.47%
78	UYSCUY SCUTI ACQUISITION CORP	150,000	$1.5M	0.43%
79	CRAQCAL REDWOOD ACQUISITION CORP	150,000	$1.5M	0.43%
80	GSHRGESHER ACQUISITION CORP II	150,000	$1.5M	0.43%
81	—M3-BRIGADE ACQUISITION V-A	100,600	$1.1M	0.32%
82	MCGAYORKVILLE ACQUISITION CORP	100,000	$1.1M	0.31%
83	PLMKPLUM ACQUISITION CORP IV	100,000	$1.0M	0.29%
84	RDAGREPUBLIC DIGITAL ACQUIS-CL A	100,000	$1.0M	0.29%
85	TASKTASKUS INC-A	43,851	$735K	0.20%
86	GCLGCLWW US 13 Feb 30 C11.5	4,500	$422K	0.12%
87	LIMNLIMNW US 30 Apr 30 C11.5	1,250	$300K	0.08%
88	FSHPFLAG SHIP ACQUISITION CORP	27,000	$297K	0.08%
89	SIMASIM ACQUISITION CORP I-A	25,000	$261K	0.07%
90	—MURAL ONCOLOGY PLC	87,968	$217K	0.06%
91	—YSBPW US 15 Mar 28 C11.5	5,000	$200K	0.06%
92	ICADUSDICAD INC	33,096	$126K	0.04%
93	GENVRGEN DIGITAL INC - CVR	9,468	$76K	0.02%
94	LOBLOKVW US 17 Apr 30 C11.5	100,000	$70K	0.02%
95	WALDWALDW US 27 Jul 27 C11.5	666	$65K	0.02%
96	DMYYWDMYY/WS US 21 Nov 27 C11.5	25,000	$48K	0.01%
97	TACOTACOW US 28 Apr 30 C11.5	50,000	$40K	0.01%
98	BKHABLACK HAWK ACQUISITION C-RTS	10,000	$14K	0.00%
99	SHMDSCHMID GROUP NV	2,505	$7K	0.00%
100	BKSYBLACKSKY TECHNOLOGY INC	75	$2K	0.00%

Page 1 of 2Next