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Mmcap International Inc. SPC
MMCAP INTERNATIONAL INC. SPC is an investment firm headquartered in Grand Cayman, Cayman Islands. The firm specializes in opportunistic, event-driven hedge fund strategies with a focus on small- to mid-sized corporate actions and market inefficiencies across Canada, the US, and globally. Founded over 18 years ago, MMCAP is recognized for innovative arbitrage and event-driven investing, and as of 2025 manages over $831 million in assets. It primarily serves institutional and high-net-worth investors seeking aggressive growth and high risk, and was named among the world's top-performing hedge funds in 2018 by major financial outlets.
Investment Strategy
MMCAP pursues a diversified, event-driven hedge fund strategy centered on exploiting inefficiencies and arbitrage opportunities often overlooked by larger market players. Employing a variety of tactics—including merger arbitrage, convertible arbitrage, warrant arbitrage, capital structure arbitrage, index arbitrage, special situations, private investments, and pairs trading—the firm invests primarily in small- and mid-cap companies. MMCAP's portfolio spans sectors such as energy, financial services, chemicals, machinery, and semiconductors, with a philosophy geared toward opportunism, aggressive growth, and high risk-taking aligned with manager-investor interests.
Latest 13F Filing Activity
Mmcap International Inc. SPC filed their most recent 13F report on Jun 30, 2025 disclosing 83 equity positions with a total 13F market value of $831M. The fund increased holdings in Aris MNG Corp., Poet Technologies Inc., M3brigade Acquisition V Corp. among other positions. Mmcap International Inc. SPC reduced exposure to Moneylion Inc., Centurion Acquisition Corp., Lionheart Holdings among others.
Top Holdings
Equity Positions (83)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
| ARIS MNG CORP | 16.99% | $141.3M | 11,324,587 | $3.09 | $9.17 | +$88.9M | |
U UEC | URANIUM ENERGY CORP | 12.91% | $107.3M | 15,782,970 | $4.77 | $6.80 | +$13.1M |
A ASTL | ALGOMA STL GROUP INC | 5.98% | $49.7M | 7,218,218 | $8.89 | $6.89 | +$13.7M |
P POET | POET TECHNOLOGIES INC | 3.69% | $30.7M | 5,894,384 | $5.14 | $5.21 | +$29.7M |
D DNN | DENISON MINES CORP | 2.94% | $24.4M | 13,412,284 | $1.37 | $1.82 | -$6.7M |
Industry Allocation
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