HGC Investment Management Inc. Q4 2025 Filing
Filed February 17, 2026
Portfolio Value
$471.7M
Holdings
162
Report Date
Q4 2025
Filing Type
13F-HR
All Holdings (162 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | AACBARTIUS II ACQUISITION INC-A | 1,500,000 | $15.4M | 3.28% | |
| 2 | ALFCENTURION ACQUISITION CORP | 1,450,000 | $15.4M | 3.27% | |
| 3 | JACSJACKSON ACQUISITION CO-CL A | 1,475,200 | $15.4M | 3.26% | |
| 4 | GPATGP-ACT III ACQUISITION-A | 1,375,000 | $14.7M | 3.12% | |
| 5 | SDHISIDDHI ACQUISITION CORP-A | 1,250,000 | $12.8M | 2.72% | |
| 6 | DMIIDRUGS MADE IN AMERICA ACQUIS | 1,230,980 | $12.2M | 2.58% | |
| 7 | FERAFIFTH ERA ACQUISITION CORP I | 1,150,760 | $12.0M | 2.55% | |
| 8 | OBAOXLEY BRIDGE ACQUISITION LTD | 950,000 | $9.7M | 2.06% | |
| 9 | SOULSOULPOWER ACQUISITION CO-A | 953,146 | $9.7M | 2.05% | |
| 10 | CYBRCYBER-ARK SOFTWARE LTD/ISRAE | 19,507 | $8.7M | 1.84% | |
| 11 | PAIIPYROPHYTE ACQUISITION CORP-A | 850,000 | $8.6M | 1.81% | |
| 12 | EXASEXACT SCIENCES CORP | 80,000 | $8.1M | 1.72% | |
| 13 | ITHAITHAX ACQUISITION CORP III | 800,000 | $8.0M | 1.69% | |
| 14 | KFIIK&F GROWTH ACQUISITION CORP | 750,000 | $7.8M | 1.66% | |
| 15 | EAELECTRONIC ARTS INC | 37,816 | $7.7M | 1.64% | |
| 16 | PACHPIONEER ACQUISITION I CORP | 743,077 | $7.6M | 1.61% | |
| 17 | LPCVLAUNCHPAD CADENZA ACQUISITIO | 750,000 | $7.5M | 1.59% | |
| 18 | ADACAMERICAN DRIVE ACQUISITION C | 750,000 | $7.5M | 1.58% | |
| 19 | JENAJENA ACQUISITION CORP II - A | 700,000 | $7.1M | 1.51% | |
| 20 | FTWEQV VENTURES ACQUISITION COR | 697,174 | $7.1M | 1.50% | |
| 21 | CEPFCANTOR EQUITY PARTNERS-CL A | 650,000 | $6.7M | 1.42% | |
| 22 | SZZLSIZZLE ACQUISITION CORP-CL A | 650,539 | $6.6M | 1.40% | |
| 23 | VCICVINE HILL CAPITAL INVESTMENT | 650,000 | $6.5M | 1.38% | |
| 24 | YCYAA MISSION ACQUISITION COR-A | 605,000 | $6.5M | 1.37% | |
| 25 | MBVIM3-BRIGADE ACQUISITION VI CO | 625,000 | $6.3M | 1.34% | |
| 26 | RDAGREPUBLIC DIGITAL ACQUIS-CL A | 602,741 | $6.1M | 1.29% | |
| 27 | SBXESILVERBOX CORP V | 600,000 | $6.0M | 1.28% | |
| 28 | HCMAHCM III ACQUISITION COR-CL A | 600,000 | $6.0M | 1.28% | |
| 29 | CEPFCANTOR EQUITY PARTNERS-CL A | 583,153 | $6.0M | 1.27% | |
| 30 | TACHTITAN ACQUISITION CORP | 559,131 | $5.8M | 1.24% | |
| 31 | BLZRTRAILBLAZER ACQUISITION CORP | 550,000 | $5.6M | 1.19% | |
| 32 | FCRSFUTURECREST ACQUISITION CORP | 550,000 | $5.6M | 1.19% | |
| 33 | WENNWEN ACQUISITION CORP-A | 550,000 | $5.6M | 1.18% | |
| 34 | TVAITHAYER VENTURES ACQUISITION | 525,000 | $5.4M | 1.15% | |
| 35 | CFLTCONFLUENT INC-CLASS A | 174,258 | $5.3M | 1.12% | |
| 36 | IRHOUIRON HORSE ACQUISITION II CO | 523,489 | $5.2M | 1.10% | |
| 37 | —FIGX CAPITAL ACQUISITION COR | 500,000 | $5.1M | 1.08% | |
| 38 | VACIVIKING ACQUISITIONS CORP I | 500,000 | $5.0M | 1.07% | |
| 39 | KBONUKARBON CAPITAL PARTNERS CORP | 500,000 | $5.0M | 1.07% | |
| 40 | CGCTCARTESIAN GROWTH CORP I-CL A | 450,000 | $4.6M | 0.98% | |
| 41 | RDAGREPUBLIC DIGITAL ACQUISITION | 443,934 | $4.6M | 0.98% | |
| 42 | NPACNEW PROVIDENCE ACQUISITION-A | 450,000 | $4.6M | 0.98% | |
| 43 | GTENGORES HOLDINGS X INC | 400,000 | $4.2M | 0.89% | |
| 44 | SPEGSILVER PEGASUS ACQUISITION C | 400,000 | $4.1M | 0.87% | |
| 45 | BCSSBAIN CAPITAL GSS INVESTMENT | 400,000 | $4.1M | 0.87% | |
| 46 | AIIAAI INFRASTRUCTURE ACQUISITIO | 400,000 | $4.1M | 0.86% | |
| 47 | CRANUCRANE HARBOR ACQUISITION COR | 400,000 | $4.0M | 0.85% | |
| 48 | APXTAPEX TREASURY CORP | 400,000 | $4.0M | 0.85% | |
| 49 | BCARD BORAL ARC ACQUISITION I CO | 375,000 | $3.8M | 0.81% | |
| 50 | HAVAHARVARD AVE ACQUISITION CORP | 375,000 | $3.8M | 0.80% | |
| 51 | —CROWN RESERVE ACQUISITI-CL A | 375,000 | $3.7M | 0.79% | |
| 52 | AXINAXIOM INTELLIGENCE ACQUISITI | 350,000 | $3.6M | 0.76% | |
| 53 | LKSPLAKE SUPERIOR ACQUISITION CO | 320,000 | $3.3M | 0.69% | |
| 54 | LCCCLAKESHORE ACQUISITION III CO | 300,000 | $3.1M | 0.66% | |
| 55 | SOCASOLARIUS CAPITAL ACQUISITION | 300,000 | $3.1M | 0.65% | |
| 56 | NGDNew Gold Inc. USD | 346,542 | $3.0M | 0.64% | |
| 57 | EVOXEVOLUTION GLOBAL ACQUISITION | 300,000 | $3.0M | 0.64% | |
| 58 | QUMSQUANTUMSPHERE ACQUISITION CO | 300,000 | $3.0M | 0.64% | |
| 59 | NSCNORFOLK SOUTHERN CORP | 10,000 | $2.9M | 0.61% | |
| 60 | COPLCOPLEY ACQUISITION CORP | 250,000 | $2.6M | 0.55% | |
| 61 | EGHAEGH ACQUISITION CORP | 250,000 | $2.6M | 0.55% | |
| 62 | GIWGIGCAPITAL8 CORP | 250,000 | $2.5M | 0.54% | |
| 63 | ALUBALUSSA ENERGY ACQUISITION CO | 250,000 | $2.5M | 0.54% | |
| 64 | SACSAFEGUARD ACQUISITION CORP | 250,000 | $2.5M | 0.53% | |
| 65 | BPACBLUEPORT ACQUISITION LTD | 250,000 | $2.5M | 0.53% | |
| 66 | TDWDTAILWIND 2.0 ACQUISITION COR | 250,000 | $2.5M | 0.53% | |
| 67 | APADA PARADISE ACQUISITION - A | 250,000 | $2.5M | 0.53% | |
| 68 | DNMXDYNAMIX CORP III | 250,000 | $2.5M | 0.53% | |
| 69 | IGACINVEST GREEN ACQUISITION COR | 250,000 | $2.5M | 0.53% | |
| 70 | LWACLIGHTWAVE ACQUISITION COR | 245,500 | $2.5M | 0.53% | |
| 71 | AEAQACTIVATE ENERGY ACQUISITION | 250,000 | $2.5M | 0.53% | |
| 72 | GSRFGSR IV ACQUISITION CORP-CL A | 250,000 | $2.5M | 0.53% | |
| 73 | TWLVTWELVE SEAS INVESTMENT CO II | 250,000 | $2.5M | 0.53% | |
| 74 | PMTRPERIMETER ACQUIS CORP I CL A | 238,400 | $2.5M | 0.52% | |
| 75 | CEPFCANTOR EQUITY PARTNERS III-A | 225,000 | $2.3M | 0.49% | |
| 76 | NHICUNEWHOLD INVESTMENT CORP III | 200,000 | $2.1M | 0.44% | |
| 77 | ONCH1RT ACQUISITION CORP | 200,000 | $2.1M | 0.44% | |
| 78 | CCXIUCHURCHILL CAPITAL CORP XI | 200,000 | $2.0M | 0.43% | |
| 79 | BDCIBTC DEVELOPMENT CORP | 200,000 | $2.0M | 0.43% | |
| 80 | HVMCHIGHVIEW MERGER CORP | 200,000 | $2.0M | 0.43% | |
| 81 | DYORINSIGHT DIGITAL PARTNERS II | 200,000 | $2.0M | 0.43% | |
| 82 | HCACHALL CHADWICK ACQUISITION CO | 200,000 | $2.0M | 0.42% | |
| 83 | MACIMELAR ACQUISITION CORP I-A | 175,000 | $1.9M | 0.39% | |
| 84 | MMTXMILUNA ACQUISITION CORP | 175,000 | $1.7M | 0.37% | |
| 85 | IBITISHARES BITCOIN TRUST | 34,606 | $1.7M | 0.36% | |
| 86 | CRAQCAL REDWOOD ACQUISITION CORP | 150,000 | $1.6M | 0.33% | |
| 87 | GSHRGESHER ACQUISITION CORP II | 150,000 | $1.6M | 0.33% | |
| 88 | GTERAGLOBA TERRA ACQUISITION CORP | 150,000 | $1.5M | 0.33% | |
| 89 | UYSCUY SCUTI ACQUISITION CORP | 150,000 | $1.5M | 0.33% | |
| 90 | INACINDIGO ACQUISITION CORP | 150,000 | $1.5M | 0.32% | |
| 91 | LFACLEAPFROG ACQUISITION CORP | 150,000 | $1.5M | 0.32% | |
| 92 | SZ7AMERICAS GOLD & SILVER CORP | 300,000 | $1.5M | 0.31% | |
| 93 | OTGAOTG ACQUISITION CORP I | 125,000 | $1.3M | 0.27% | |
| 94 | —M3-BRIGADE ACQUISITION V-A | 100,600 | $1.1M | 0.23% | |
| 95 | PLMKPLUM ACQUISITION CORP IV | 100,000 | $1.1M | 0.22% | |
| 96 | PGACAIFEEX NEXUS ACQUISITION COR | 100,000 | $1.0M | 0.22% | |
| 97 | —CSLM DIGITAL ASSET ACQUISITI | 100,000 | $1.0M | 0.21% | |
| 98 | MKLYMCKINLEY ACQUISITION CORP | 100,000 | $1.0M | 0.21% | |
| 99 | SCIISC II ACQUISITION CORP | 100,000 | $1.0M | 0.21% | |
| 100 | TACHTITAN ACQUISITION CORP-CL A | 50,000 | $512K | 0.11% |
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