HEIGHTS CAPITAL MANAGEMENT, INC

CIK

1081698

Location

SAN FRANCISCO, CA

Portfolio Value

Small $297,191,426

Diversification

Diversified

Filing Date

Global Rank

#3,423 / 8,603 ▲ 500 · as of Mar 2026

Top Industry

Shell Companies 52.5%

3Y Alpha vs SPY

-1.2%

Period ended 3 months ago

Filed May 15, 2026 · 55d

7 quarters · since Sep 2024

Clone Performance

Nov 2024–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

-6.0%

SPY

+28.3%

Annualised alpha

-20.0%

Max drawdown

−43.1%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

110 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

12.5%

−13.6 pts

Top 5

38.4%

−9.8 pts

Top 10

50.5%

−8.2 pts

HHI

427

Diversified−466

Portfolio Trend

7 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	52.2%	$155,140,557	91
Consumer Cyclical	24.1%	$71,602,412	4
Technology	10.9%	$32,270,895	3
Healthcare	10.2%	$30,192,211	6
Industrials	1.5%	$4,324,419	3
Consumer Defensive	0.7%	$2,029,932	1
Unclassified	0.5%	$1,631,000	2

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

No qualifying positions this quarter.

Trimmed

Positions the filer reduced

7 positions

Ticker	Company	Δ Shares	Shares	Value
NNE	Nano Nuclear Energy Inc.	−527,500	81,000	$1,658,880
NYXH	Nyxoah SA	−468,698	308,490	$900,790
GPAT	GP-Act III Acquisition Corp.	−27,377	388,719	$4,213,713
MACI	Melar Acquisition Corp. I/Cayman	−17,406	34,755	$374,311
CUB	Lionheart Holdings	−14,192	36,606	$393,880
NTWO	Newbury Street II Acquisition Corp	−4,319	26,191	$275,267
FSHP	Flag Ship Acquisition Corp	−4,222	302,347	$3,304,652
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
SLDP	Solid Power, Inc.	12,395,558	$37,186,674
IONQ	IonQ, Inc.	815,542	$23,512,075
SCYX	Scynexis Inc	2,086,960	$15,309,938
CMPS	COMPASS Pathways plc	1,492,415	$8,253,054
LAES	SEALSQ Corp	3,136,465	$8,217,538
MBAV	M3-Brigade Acquisition V Corp.	500,000	$5,370,000
DMII	Drugs Made In America Acquisition II Corp.	519,400	$5,178,418
IRHO	Iron Horse Acquisition II Corp.	470,000	$4,634,200
CCXI	Churchill Capital Corp XI	448,176	$4,553,468
CADL	Candel Therapeutics, Inc.	775,000	$3,797,500
TWLV	Twelve Seas Investment Co III/Cayman	350,000	$3,454,500
AIIA	AI Infrastructure Acquisition Corp.	300,000	$3,009,000
BBCQ	Bleichroeder Acquisition Corp. II	279,547	$2,801,060
MESH	Meshflow Acquisition Corp	250,000	$2,472,500
YCY	AA Mission Acquisition Corp. II	200,000	$2,014,000
SCII	SC II Acquisition Corp.	150,000	$1,495,500
HCAC	Hall Chadwick Acquisition Corp	149,990	$1,489,400
IGAC	Invest Green Acquisition Corp	150,000	$1,485,000
GIW	GigCapital8 Corp.	141,583	$1,411,582
IMDX	Insight Molecular Diagnostics Inc.	392,545	$1,287,547
GWH	ESS Tech, Inc.	963,495	$1,127,289
ITHA	ITHAX Acquisition Corp III	110,000	$1,089,000
CEPS	Cantor Equity Partners VI, Inc.	100,000	$1,010,000
MKLY	McKinley Acquisition Corp	100,000	$1,003,000
BPAC	Blueport Acquisition Ltd	100,000	$1,001,000
No positions match the current search.

Sold Out

Positions the filer fully exited

16 positions

Ticker	Company	Shares	Value
AVX	Avax One Technology Ltd.	1,300,000	$23,556,000
ABSI	Absci Corp	1,065,640	$3,719,083
CBIO	Crescent Biopharma, Inc.	264,000	$3,131,040
VACH	Voyager Acquisition Corp./Cayman Islands	250,000	$2,667,500
KYTX	Kyverna Therapeutics, Inc.	271,822	$2,555,126
SLNH	Soluna Holdings, Inc	2,043,964	$2,391,437
COLA	Columbus Acquisition Corp/Cayman Islands	200,000	$2,077,600
RIBB	Ribbon Acquisition Corp.	200,000	$2,076,000
NVA	Nova Minerals Corp	255,906	$1,562,306
HYAC	Haymaker Acquisition Corp. 4	121,772	$1,385,765
ALUR	Allurion Technologies, Inc.	59,880	$1,104,786
FTW	PRESIDIO PRODUCTION Co	93,574	$981,591
CTXR	Citius Pharmaceuticals, Inc.	799,934	$621,548
VCIC	Vine Hill Capital Investment Corp.	55,790	$600,858
PELI	Pelican Acquisition Corp	50,000	$507,550
HSPT	Horizon Space Acquisition II Corp.	20,000	$210,900
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

110 positions · $297,191,426 total · as of Mar 31, 2026

All sectors Consumer Cyclical Consumer Defensive Financial Services Healthcare Industrials Technology

Showing 1–50 of 110 positions by value · page 1 of 3

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
SLDP	Solid Power, Inc. Consumer Cyclical	NEW	12,395,558	NEW	$37,186,674	NEW	12.51%
FLUT	Flutter Entertainment plc Consumer Cyclical	Held	294,180	0	$29,991,651	−52.6%	10.09%
IONQ	IonQ, Inc. Technology	NEW	815,542	NEW	$23,512,075	NEW	7.91%
SCYX	Scynexis Inc Healthcare	NEW	2,086,960	NEW	$15,309,938	NEW	5.15%
CMPS	COMPASS Pathways plc Healthcare	NEW	1,492,415	NEW	$8,253,054	NEW	2.78%
LAES	SEALSQ Corp Technology	NEW	3,136,465	NEW	$8,217,538	NEW	2.77%
FGMC	FG Merger II Corp. Financial Services	Held	790,000	0	$7,979,000	+0.6%	2.68%
JACS	Jackson Acquisition Co II Financial Services	Held	700,000	0	$7,413,000	+1.6%	2.49%
DMAA	Drugs Made In America Acquisition Corp. Financial Services	Held	650,000	0	$6,812,000	+1.0%	2.29%
MBAV	M3-Brigade Acquisition V Corp. Financial Services	NEW	500,000	NEW	$5,370,000	NEW	1.81%
DMII	Drugs Made In America Acquisition II Corp. Financial Services	NEW	519,400	NEW	$5,178,418	NEW	1.74%
KCHV	Kochav Defense Acquisition Corp. Financial Services	Held	500,000	0	$5,125,000	+1.1%	1.72%
IRHO	Iron Horse Acquisition II Corp. Financial Services	NEW	470,000	NEW	$4,634,200	NEW	1.56%
NMP	NMP Acquisition Corp. Financial Services	Held	450,000	0	$4,572,000	+1.4%	1.54%
CCXI	Churchill Capital Corp XI Financial Services	NEW	448,176	NEW	$4,553,468	NEW	1.53%
EMPD	Empery Digital Inc. Consumer Cyclical	Held	1,000,000	0	$4,230,000	−7.3%	1.42%
GPAT	GP-Act III Acquisition Corp. Financial Services	Reduced	388,719	-27,377	$4,213,713	−5.3%	1.42%
CADL	Candel Therapeutics, Inc. Healthcare	NEW	775,000	NEW	$3,797,500	NEW	1.28%
FERA	Fifth Era Acquisition Corp I Financial Services	Held	350,000	0	$3,605,000	+0.1%	1.21%
EMIS	Emmis Acquisition Corp. Financial Services	Held	350,000	0	$3,517,500	+1.0%	1.18%
FVN	Future Vision II Acquisition Corp. Financial Services	Held	325,000	0	$3,484,000	+1.4%	1.17%
TWLV	Twelve Seas Investment Co III/Cayman Financial Services	NEW	350,000	NEW	$3,454,500	NEW	1.16%
FSHP	Flag Ship Acquisition Corp Financial Services	Reduced	302,347	-4,222	$3,304,652	+0.3%	1.11%
COPL	Copley Acquisition Corp Financial Services	Held	300,000	0	$3,096,000	+0.5%	1.04%
AIIA	AI Infrastructure Acquisition Corp. Financial Services	NEW	300,000	NEW	$3,009,000	NEW	1.01%
BBCQ	Bleichroeder Acquisition Corp. II Financial Services	NEW	279,547	NEW	$2,801,060	NEW	0.94%
PLMK	Plum Acquisition Corp, IV Financial Services	Held	250,000	0	$2,640,000	+1.0%	0.89%
ORIQ	Origin Investment Corp I Financial Services	Held	249,900	0	$2,548,980	+0.8%	0.86%
MESH	Meshflow Acquisition Corp Financial Services	NEW	250,000	NEW	$2,472,500	NEW	0.83%
CHPG	ChampionsGate Acquisition Corp Financial Services	Held	212,182	0	$2,174,865	+0.6%	0.73%
LKSP	Lake Superior Acquisition Corp Financial Services	Held	210,000	0	$2,110,500	+1.3%	0.71%
LCCC	Lakeshore Acquisition III Corp. Financial Services	Held	200,000	0	$2,060,000	+1.1%	0.69%
SZZL	Sizzle Acquisition Corp. II Financial Services	Held	200,000	0	$2,056,000	+1.2%	0.69%
SOUL	Soulpower Acquisition Corp. Financial Services	Held	200,000	0	$2,050,000	+1.0%	0.69%
ENHA	Enhanced Group Inc. Consumer Defensive	Held	199,600	0	$2,029,932	+1.2%	0.68%
SPEG	Silver Pegasus Acquisition Corp. Financial Services	Held	199,100	0	$2,026,838	+1.1%	0.68%
YCY	AA Mission Acquisition Corp. II Financial Services	NEW	200,000	NEW	$2,014,000	NEW	0.68%
CRAC	Crown Reserve Acquisition Corp. I Financial Services	Held	200,000	0	$2,002,000	+0.7%	0.67%
XRPN	Armada Acquisition Corp. II Financial Services	Held	191,267	0	$1,971,962	+0.7%	0.66%
RDAG	Republic Digital Acquisition Co Financial Services	Held	178,000	0	$1,820,940	+1.0%	0.61%
UYSC	UY Scuti Acquisition Corp. Financial Services	Held	175,000	0	$1,816,500	+1.3%	0.61%
BSAA	BEST SPAC I Acquisition Corp. Financial Services	Held	175,000	0	$1,795,500	+1.3%	0.60%
NNE	Nano Nuclear Energy Inc. Industrials	Reduced	81,000	-527,500	$1,658,880	−88.6%	0.56%
CAPN	Cayson Acquisition Corp Financial Services	Held	150,000	0	$1,650,000	+3.4%	0.56%
FAC	Factorial Energy Inc. Industrials	Held	150,000	0	$1,538,250	−0.4%	0.52%
QUMS	Quantumsphere Acquisition Corp Financial Services	Held	150,000	0	$1,518,000	+1.1%	0.51%
SCII	SC II Acquisition Corp. Financial Services	NEW	150,000	NEW	$1,495,500	NEW	0.50%
HCAC	Hall Chadwick Acquisition Corp Financial Services	NEW	149,990	NEW	$1,489,400	NEW	0.50%
IGAC	Invest Green Acquisition Corp Financial Services	NEW	150,000	NEW	$1,485,000	NEW	0.50%
GIW	GigCapital8 Corp. Financial Services	NEW	141,583	NEW	$1,411,582	NEW	0.47%