Radcliffe Capital Management, L.P. Q4 2025 Filing

Filed February 17, 2026

Portfolio Value

$1.8B

Holdings

309

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (309 positions)

#	Stock	Shares	Value	% Portfolio
1	GIWGigCapital8 Corp	550,000	$181.0M	9.85%
2	CRAQCal Redwood Acquisition Corp.	503,394	$153.0M	8.33%
3	ENPH 0 03/01/26Enphase Energy Inc	149,750,000	$148.1M	8.06%
4	EVOXEvolution Global Acquisition Corp	360,493	$147.0M	8.00%
5	—CSLM Digital Asset Acquisition Corp III Ltd	374,886	$140.0M	7.62%
6	KCHVKochav Defense Acquisition Corp	500,000	$125.0M	6.80%
7	VAC 0 01/15/26Marriott Vacations Worldwide Corp	113,786,000	$113.4M	6.17%
8	BACCBlue Acquisition Corp	371,399	$111.0M	6.04%
9	OYSEOyster Enterprises II Acquisition Corp	551,079	$110.0M	5.99%
10	TDOC 1.25 06/01/27Teladoc Health Inc	115,750,000	$110.0M	5.99%
11	IGACInvest Green Acquisition Corp	550,000	$101.0M	5.50%
12	TVAIThayer Ventures Acquisition Corp II	536,883	$96.0M	5.23%
13	HCMAHCM III Acquisition Corp	191,665	$95.0M	5.17%
14	JENAJena Acquisition Corp II	544,782	$92.0M	5.01%
15	AXINAxiom Intelligence Acquisition Corp 1	408,802	$91.0M	4.95%
16	FTWEQV Ventures Acquisition Corp II	266,665	$89.0M	4.84%
17	OTGAOTG Acquisition Corp I	275,000	$89.0M	4.84%
18	SPEGSilver Pegasus Acquisition Corp	329,218	$88.0M	4.79%
19	—Apex Treasury Corp	298,983	$82.0M	4.46%
20	AACBArtius II Acquisition Inc	250,059	$82.0M	4.46%
21	SDHISiddhi Acquisition Corp	377,295	$81.0M	4.41%
22	RNG 0 03/15/26RingCentral Inc	81,222,000	$80.2M	4.37%
23	EMISEmmis Acquisition Corp	487,217	$78.0M	4.25%
24	CALY 2.75 05/01/26Callaway Golf Company	77,410,000	$76.9M	4.19%
25	MGNI 0.25 03/15/26Magnite Inc.	76,767,000	$75.8M	4.12%
26	NMPNMP Acquisition Corp	375,000	$75.0M	4.08%
27	CABO 0 03/15/26Cable One Inc	75,188,000	$74.1M	4.03%
28	VACIViking Acquisition Corp I	191,665	$74.0M	4.03%
29	DMIIDrugs Made In America Acquisition II Corp	575,000	$74.0M	4.03%
30	MBVIM3-Brigade Acquisition VI Corp	191,665	$73.0M	3.97%
31	—Crown Reserve Acquisition Corp I	350,000	$71.0M	3.87%
32	TDWDTailwind 2.0 Acquisition Corp	421,511	$71.0M	3.87%
33	APADA Paradise Acquisition Corp	300,000	$70.0M	3.81%
34	HVMCHighview Merger Corp	266,099	$69.0M	3.76%
35	BIXIBitcoin Infrastructure Acquisition Corp Ltd	278,039	$69.0M	3.76%
36	EGHAEGH Acquisition Corp	265,616	$69.0M	3.76%
37	BCARD Boral ARC Acquisition I Corp	177,673	$64.0M	3.48%
38	HAVAHarvard Ave Acquisition Corp	550,000	$63.0M	3.43%
39	PELIPelican Acquisition Corp	251,272	$62.0M	3.38%
40	SOULSoulpower Acquisition Corp	325,790	$61.0M	3.32%
41	PACHPioneer Acquisition I Corp	250,000	$60.0M	3.27%
42	ALISCalisa Acquisition Corp	125,000	$60.0M	3.27%
43	OBAOxley Bridge Acquisition Ltd	249,999	$58.0M	3.16%
44	ALRM 0 01/15/26Alarm.com Holdings Inc	57,420,000	$57.3M	3.12%
45	IPODDune Acquisition Corp II	210,324	$57.0M	3.10%
46	LWACLightwave Acquisition Corp	250,000	$57.0M	3.10%
47	RNGTWRange Capital Acquisition Corp II	180,299	$57.0M	3.10%
48	DMIIDrugs Made In America Acquisition Corp	325,100	$56.0M	3.05%
49	DYORInsight Digital Partners II	160,149	$56.0M	3.05%
50	DNMXDynamix Corp III	161,897	$55.0M	2.99%
51	KFIIK&F Growth Acquisition Corp II	360,850	$54.0M	2.94%
52	AIIAAI Infrastructure Acquisition Corp	200,000	$53.0M	2.89%
53	SZZLSizzle Acquisition Corp II	339,951	$52.0M	2.83%
54	VNMEVendome Acquisition Corp I	187,500	$51.0M	2.78%
55	BSY 0.125 01/15/26Bentley Systems Inc	48,716,000	$48.6M	2.65%
56	BAND 0.5 04/01/28Bandwidth Inc	55,900,000	$48.5M	2.64%
57	CHPGChampionsGate Acquisition Corp	289,416	$48.0M	2.61%
58	ENPH 0 03/01/28Enphase Energy Inc	49,639,000	$43.2M	2.35%
59	LATAGalata Acquisition Corp II	116,666	$43.0M	2.34%
60	MKLYMcKinley Acquisition Corp	350,000	$43.0M	2.34%
61	RANGRange Capital Acquisition Corp	100,000	$41.0M	2.23%
62	FIGXFIGX Capital Acquisition Corp	153,145	$40.0M	2.18%
63	TAVITavia Acquisition Corp	181,900	$38.0M	2.07%
64	YCYAA Mission Acquisition Corp II	174,999	$38.0M	2.07%
65	GTERAGloba Terra Acquisition Corp	250,000	$37.0M	2.01%
66	FERAFifth Era Acquisition Corp I	114,949	$37.0M	2.01%
67	WENNWen Acquisition Corp	113,810	$37.0M	2.01%
68	SOCASolarius Capital Acquisition Corp	125,100	$37.0M	2.01%
69	INACIndigo Acquisition Corp	250,000	$36.0M	1.96%
70	COPLCopley Acquisition Corp	157,739	$35.0M	1.91%
71	ETSY 0.25 06/15/28Etsy Inc	38,000,000	$33.9M	1.85%
72	MTN 0 01/01/26Vail Resorts Inc	33,692,000	$33.7M	1.83%
73	QUMSQuantumsphere Acquisition Corp	150,000	$33.0M	1.80%
74	PAIIPyrophyte Acquisition Corp II	77,981	$31.0M	1.69%
75	LAFALaFayette Acquisition Corp	200,000	$30.0M	1.63%
76	CHECChenghe Acquisition III Co	149,999	$28.0M	1.52%
77	SSEAStarry Sea Acquisition Corp	128,372	$28.0M	1.52%
78	BSAABEST SPAC I Acquisition Corp	170,000	$26.0M	1.42%
79	GTERAGloba Terra Acquisition Corp	187,500	$26.0M	1.42%
80	DXCM 0.375 05/15/28DexCom Inc.	26,000,000	$23.9M	1.30%
81	APACStoneBridge Acquisition II Corp	160,000	$23.0M	1.25%
82	GLAD 5.875 10/01/30Gladstone Capital Corp	21,400,000	$20.9M	1.14%
83	MMTXMiluna Acquisition Corp	175,000	$20.0M	1.09%
84	FIVN 1 03/15/29Five9 Inc	21,500,000	$19.3M	1.05%
85	LCCCLakeshore Acquisition III Corp	81,843	$18.0M	0.98%
86	WSTNWestin Acquisition Corp	100,000	$18.0M	0.98%
87	WTGWintergreen Acquisition Corp	130,016	$18.0M	0.98%
88	MCGAYorkville Acquisition Corp	34,430	$17.0M	0.93%
89	U 0 11/15/26Unity Software Inc	17,181,000	$16.6M	0.90%
90	ARRY 1 12/01/28Array Technologies Inc	18,000,000	$16.3M	0.89%
91	—Crown Reserve Acquisition Corp I	175,000	$15.0M	0.82%
92	FUBO 3.25 02/15/26FuboTV Inc	11,737,000	$11.7M	0.64%
93	BL 0 03/15/26BlackLine Inc	10,692,000	$10.6M	0.58%
94	PCAPProCap Acquisition Corp	30,432	$10.0M	0.54%
95	TACOBERTO ACQUISITION CORP	26,343	$10.0M	0.54%
96	FTWEQV Ventures Acquisition Corp II	910,862	$9.1M	0.50%
97	VAC 3.25 12/15/27Marriott Vacations Worldwide Corp	9,000,000	$8.6M	0.47%
98	ABNB 0 03/15/26Airbnb Inc	7,964,000	$7.9M	0.43%
99	MESHMeshflow Acquisition Corp	749,400	$7.5M	0.41%
100	SNOW 0 10/01/27Snowflake Inc	5,000,000	$7.4M	0.40%

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