TENOR CAPITAL MANAGEMENT Co., L.P.
Long book
$1.50B
Q1 2026
Positions
396
Top-10 weight
14%
concentration
Last quarter
+0.5%
SPY +14.8%
Turnover
38%
of book per quarter
Strategy in plain words
auto-generated from filingsTENOR CAPITAL MANAGEMENT Co., L.P. is an institutional manager, specialised in financials (89% of the long book), running a $1.50B US long book across 396 positions.
The portfolio is broadly diversified across 396 positions (top 10 only 14%). The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: CHURCHILL CAPITAL CORP IX, ARMADA ACQUISITION -CLASS A, GIGCAPITAL9 CORP-CL A, OUNTAIN LAKE ACQUISITION CO, K&F GROWTH ACQUISITION COR-A.
Over the last 9 quarters its long book ran on average 2.9pp per quarter behind the S&P 500, beating the index in 3 of 9 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
Q1 2024
+4.1%
Q2 2024
+1.3%
Q3 2024
+9.7%
Q4 2024
-1.1%
Q1 2025
-2.7%
Q2 2025
+2.0%
Q3 2025
+0.1%
Q4 2025
+0.2%
Q1 2026
+0.5%
Sector allocation
Financials 87%
Technology 4%
Utilities 3%
Consumer discretionary 1%
Services media 1%
Other 1%
Industrials 1%
Communications 0%
Long book by quarter
What does TENOR CAPITAL own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| CCIX CHURCHILL CAPITAL CORP IX | Technology | 2.7M | $28.9M | 1.9% | Held |
| XRPN ARMADA ACQUISITION -CLASS A | Financials | 2.2M | $22.5M | 1.5% | Held |
| GIX GIGCAPITAL9 CORP-CL A | Financials | 2.2M | $21.4M | 1.4% | New |
| KFII K&F GROWTH ACQUISITION COR-A | Financials | 2.0M | $20.9M | 1.4% | Held |
| TACH TITAN ACQUISITION CORP-CL A | Financials | 2.0M | $20.6M | 1.4% | Held |
| GTEN GORES HOLDINGS X INC-CL A | Financials | 2.0M | $20.5M | 1.4% | Held |
| HDRN HADRON ENERGY INC | Utilities | 1.9M | $20.2M | 1.3% | Held |
| TMS TEAMSHARES INC | Consumer discretionary | 1.8M | $18.2M | 1.2% | Held |
| SZZL SIZZLE ACQUISITION CORP-CL A | Financials | 1.8M | $18.0M | 1.2% | Held |
| SOUL SOULPOWER ACQUISITION CO-A | Financials | 1.8M | $17.9M | 1.2% | Held |
| SBXE SILVERBOX CORP V-CL A | Financials | 1.6M | $16.4M | 1.1% | New |
| FACT FACT II ACQUISITION CORP | Industrials | 1.5M | $15.8M | 1.0% | +50.0% |
| ATII ARCHIMEDES TECH SPAC PARTNER | Financials | 1.5M | $15.6M | 1.0% | Held |
| HVII HENNESSY CAPITAL INVESTMENT | Utilities | 1.5M | $15.5M | 1.0% | Held |
| FERA FIFTH ERA ACQUISITION CORP-A | Financials | 1.5M | $15.4M | 1.0% | Held |
| NPAC NEW PROVIDENCE ACQUISITION-A | Financials | 1.5M | $15.4M | 1.0% | Held |
| FAC FACTORIAL ENERGY INC | Technology | 1.5M | $15.4M | 1.0% | Held |
| BACC BLUE ACQUISITION CORP-CL A | Financials | 1.5M | $15.2M | 1.0% | +13.4% |
| DMII DRUGS MADE IN AMERICA ACQUIS | Financials | 1.5M | $15.0M | 1.0% | Held |
| GIW GIGCAPITAL8 CORP-A | Financials | 1.5M | $15.0M | 1.0% | Held |
| ARTC ART TECHNOLOGY ACQUISIT-CL A | Financials | 1.5M | $14.7M | 1.0% | New |
| EGHA EGH ACQUISITION CO-A | Financials | 1.4M | $14.5M | 1.0% | +103.6% |
| TVA TEXAS VENTURES ACQUISITION-A | Financials | 1.4M | $14.5M | 1.0% | Held |
| SDHI SIDDHI ACQUISITION CORP-A | Financials | 1.4M | $14.2M | 0.9% | Held |
| FL3 REAL ASSET ACQUISITION | — | 1.3M | $13.1M | 0.9% | Held |
| EVAC EQV VENTURES ACQUISITION C-A | Financials | 1.3M | $13.1M | 0.9% | Held |
| DAAQ DIGITAL ASSET ACQUISITI-CL A | Financials | 1.3M | $12.8M | 0.9% | Held |
| IPCX INFLECTION POINT ACQUISITI-A | Financials | 1.3M | $12.8M | 0.9% | Held |
| GSHR GESHER ACQUISITION CORP II-A | Financials | 1.2M | $12.4M | 0.8% | Held |
| BIXI BITCOIN INFRASTRUCTURE-CL A | Financials | 1.3M | $12.4M | 0.8% | New |
| LPCV LAUNCHPAD CADENZA ACQUI-CL A | Financials | 1.3M | $12.4M | 0.8% | New |
| ADAC AMERICAN DRIVE ACQUISIT-CL A | Financials | 1.3M | $12.4M | 0.8% | New |
| ITHA ITHAX ACQUISITION CORP-CL A | Financials | 1.3M | $12.4M | 0.8% | New |
| MESH MESHFLOW ACQUISITION CO-CL A | Financials | 1.3M | $12.4M | 0.8% | New |
| ENHA ENHANCED GROUP INC | Services media | 1.2M | $12.2M | 0.8% | Held |
| CRAQ CAL REDWOOD ACQUISIT-CL A | Financials | 1.2M | $12.2M | 0.8% | Held |
| HCIC HENNESSY CAPITAL INVEST-A | Financials | 1.2M | $11.8M | 0.8% | New |
| DRDB ROMAN DBDR ACQUISITION CORP | Financials | 1.1M | $11.6M | 0.8% | Held |
| TAVI TAVIA ACQUISITION CORP | Financials | 1.1M | $11.5M | 0.8% | Held |
| BDCI BTC DEVELOPMENT CORP-CL A | Financials | 1.1M | $11.2M | 0.7% | Held |
| SORN SOREN ACQUISITION CORP-CL A | Financials | 1.1M | $11.1M | 0.7% | New |
| MBVI M3-BRIGADE ACQUISITION-CL A | Financials | 1.1M | $11.1M | 0.7% | Held |
| CRAN CRANE HARBOR ACQUISITIO-CL A | Financials | 1.1M | $10.9M | 0.7% | New |
| PTOR PRAETORIAN ACQUISITION COR-A | Financials | 1.1M | $10.8M | 0.7% | New |
| MLAA MOUNTAIN LAKE ACQUISITI-CL A | Financials | 1.1M | $10.4M | 0.7% | New |
| NHIC NEWHOLD INVESTMENT COR III-A | Financials | 1.0M | $10.4M | 0.7% | Held |
| CCAQ COLLECTIVE ACQUISITION CORP | Financials | 1.0M | $10.3M | 0.7% | Held |
| BLUW BLUE WATER ACQUISITION C-A | Financials | 1.0M | $10.3M | 0.7% | Held |
| RDAG REPUBLIC DIGITAL ACQUIS-CL A | Financials | 1.0M | $10.2M | 0.7% | Held |
| JENA JENA ACQUISITION CORP II - A | Financials | 1.0M | $10.2M | 0.7% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 501 | $6.49B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 438 | $7.10B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 398 | $7.61B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 363 | $7.41B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 302 | $7.02B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 291 | $7.13B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 292 | $7.13B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 310 | $6.37B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 349 | $6.27B | canonical | SEC ↗ |