HEIGHTS CAPITAL MANAGEMENT, INC
Long book
$357.1M
Q1 2026
Positions
264
Top-10 weight
39%
concentration
Last quarter
+11.0%
SPY +14.8%
Turnover
62%
of book per quarter
Strategy in plain words
auto-generated from filingsHEIGHTS CAPITAL MANAGEMENT, INC is a quantitative fund whose holdings reflect models, not opinions, specialised in financials (66% of the long book), running a $357.1M US long book across 264 positions.
The portfolio is moderately concentrated (top 10 ≈ 39% of the book). Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: SOLID POWER INC, FLUTTER ENTERTAINMENT PLC-DI, IONQ INC, COMPASS PATHWAYS PLC, SEALSQ CORP.
Over the last 7 quarters its long book ran on average 1.3pp per quarter behind the S&P 500, beating the index in 3 of 7 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q3 2024
+8.0%
Q4 2024
-11.6%
Q1 2025
+7.3%
Q2 2025
+16.9%
Q3 2025
-9.9%
Q4 2025
-0.7%
Q1 2026
+11.0%
Sector allocation
Financials 56%
Technology 27%
Other 11%
Services media 3%
Healthcare 3%
Materials 0%
Industrials 0%
Utilities 0%
Long book by quarter
What does HEIGHTS CAPITAL own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| SLDP SOLID POWER INC | Technology | 12.4M | $37.2M | 10.4% | New |
| PPB FLUTTER ENTERTAINMENT PLC-DI | — | 294.2K | $30.0M | 8.4% | Held |
| IONQ IONQ INC | Technology | 815.5K | $23.5M | 6.6% | New |
| LAES SEALSQ CORP | Technology | 3.1M | $8.2M | 2.3% | New |
| FGMC FG MERGER II CORP | Financials | 790.0K | $8.0M | 2.2% | Held |
| JACS JACKSON ACQUISITION CO-CL A | Financials | 700.0K | $7.4M | 2.1% | Held |
| DMAA DRUGS MADE IN AMERICA ACQUIS | Financials | 650.0K | $6.8M | 1.9% | Held |
| MBAV M3-BRIGADE ACQUISITION V-A | Financials | 500.0K | $5.4M | 1.5% | New |
| DMII DRUGS MADE IN AMERICA ACQUIS | Financials | 519.4K | $5.2M | 1.5% | New |
| KCHV KOCHAV DEFENSE ACQUISITION-A | Financials | 500.0K | $5.1M | 1.4% | Held |
| IRHO IRON HORSE ACQUISITIONS CORP | Services media | 470.0K | $4.6M | 1.3% | New |
| NMP NMP ACQUISITION CORP - A | Financials | 450.0K | $4.6M | 1.3% | Held |
| CCXI CHURCHILL CAPITAL CORP-CL A | Financials | 448.2K | $4.6M | 1.3% | New |
| EMPD EMPERY DIGITAL INC | Financials | 1.0M | $4.2M | 1.2% | Held |
| GPAT GP-ACT III ACQUISITION-A | Financials | 388.7K | $4.2M | 1.2% | -6.6% |
| CADL CANDEL THERAPEUTICS INC | Healthcare | 775.0K | $3.8M | 1.1% | New |
| FERA FIFTH ERA ACQUISITION CORP-A | Financials | 350.0K | $3.6M | 1.0% | Held |
| EMIS EMMIS ACQUISITION CORP-CL A | Financials | 350.0K | $3.5M | 1.0% | Held |
| FVN FUTURE VISION II ACQUISITION | Technology | 325.0K | $3.5M | 1.0% | Held |
| TWLV TWELVE SEAS INVESTMENT CO-A | Financials | 350.0K | $3.5M | 1.0% | New |
| FSHP FLAG SHIP ACQUISITION CORP | Financials | 302.3K | $3.3M | 0.9% | -1.4% |
| COPL COPLEY ACQUISITION CORP-A | Financials | 300.0K | $3.1M | 0.9% | Held |
| AIIA AI INFRASTRUCTURE AC-A | Financials | 300.0K | $3.0M | 0.8% | New |
| BBCQ BLEICHROEDER ACQUIS II-CL A | Financials | 279.5K | $2.8M | 0.8% | New |
| PLMK PLUM ACQUISITION CORP IV | Financials | 250.0K | $2.6M | 0.7% | Held |
| TVAI THAYER VENTURES ACQUIS CL A | Financials | 250.0K | $2.6M | 0.7% | Held |
| ORIQ ORIGIN INVESTMENT CORP I | Financials | 249.9K | $2.6M | 0.7% | Held |
| OBA OXLEY BRIDGE ACQUISITIO-CL A | Financials | 250.0K | $2.5M | 0.7% | Held |
| MESH MESHFLOW ACQUISITION CO-CL A | Financials | 250.0K | $2.5M | 0.7% | New |
| CHPG CHAMPIONSGATE ACQUISITIO-A | Financials | 212.2K | $2.2M | 0.6% | Held |
| LKSP LAKE SUPERIOR ACQUISITI-CL A | Financials | 210.0K | $2.1M | 0.6% | Held |
| LCCC LAKESHORE ACQUISITION III CO | Financials | 200.0K | $2.1M | 0.6% | Held |
| SZZL SIZZLE ACQUISITION CORP-CL A | Financials | 200.0K | $2.1M | 0.6% | Held |
| SOUL SOULPOWER ACQUISITION CO-A | Financials | 200.0K | $2.0M | 0.6% | Held |
| ENHA ENHANCED GROUP INC | Services media | 199.6K | $2.0M | 0.6% | Held |
| SPEG SILVER PEGASUS ACQUISITION-A | Financials | 199.1K | $2.0M | 0.6% | Held |
| YCY AA MISSION ACQUISITION-A | Financials | 200.0K | $2.0M | 0.6% | New |
| CRAC CROWN RESERVE ACQUISITI-CL A | Financials | 200.0K | $2.0M | 0.6% | Held |
| DNMX DYNAMIX CORP III-CL A | Financials | 200.0K | $2.0M | 0.6% | New |
| XRPN ARMADA ACQUISITION -CLASS A | Financials | 191.3K | $2.0M | 0.6% | Held |
| SCYX SCYNEXIS INC | Healthcare | 2.1M | $1.9M | 0.5% | New |
| UYSC UY SCUTI ACQUISITION CORP | Financials | 175.0K | $1.8M | 0.5% | Held |
| RDAG REPUBLIC DIGITAL ACQUIS-CL A | Financials | 178.0K | $1.8M | 0.5% | Held |
| BSAA BEST SPAC I ACQUISITION-A | Services media | 175.0K | $1.8M | 0.5% | Held |
| CAPN CAYSON ACQUISITION CORP | Financials | 150.0K | $1.6M | 0.5% | Held |
| FAC FACTORIAL ENERGY INC | Technology | 150.0K | $1.5M | 0.4% | Held |
| QUMS QUANTUMSPHERE ACQUISITION CO | Financials | 150.0K | $1.5M | 0.4% | Held |
| WSTN WESTIN ACQUISITION CORP-A | Financials | 150.0K | $1.5M | 0.4% | New |
| SCII SC II ACQUISITION CORP-CL A | Financials | 150.0K | $1.5M | 0.4% | New |
| IGAC INVEST GREEN ACQUISITIO-CL A | Financials | 150.0K | $1.5M | 0.4% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 265 | $358.8M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 192 | $278.8M | canonical | SEC ↗ |
| Q3 2025 | 13F-HRRESTATEMENT | Nov 18, 2025 | 182 | $351.0M | SEC ↗ | |
| Q3 2025 | 13F-HR/ARESTATEMENT | Nov 18, 2025 | 182 | $351.0M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 183 | $364.7M | SEC ↗ | |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 162 | $374.7M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 14, 2025 | 129 | $213.0M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 146 | $202.2M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 138 | $134.8M | canonical | SEC ↗ |
| Q2 2024 | 13F-NT | Aug 15, 2024 | 0 | $0 | SEC ↗ | |
| Q1 2024 | 13F-NT | May 7, 2024 | 0 | $0 | SEC ↗ |