SEC 13F Intelligence

Managers / Q1 2026

HEIGHTS CAPITAL MANAGEMENT, INC

CIK 0001081698 · 101 CALIFORNIA STREET, SUITE 3250, SAN FRANCISCO, CA, 94111 · 415-403-6550

Reported Value
$359M
Q1 2026
Positions
265
Filings on Record
9
2019–present window
Filed
May 15, 2026
original filing

Summary

Heights Capital Management, Inc reported $359M in U.S.-listed holdings across 265 positions for Q1 2026.

Its largest position, SLDP, represents 10.4% of the portfolio.

Compared with Q4 2025, the fund opened 138 new positions and exited 65.

Portfolio Metrics

Turnover
+39.9%
vs prior filed quarter
Top-10 Concentration
+39.1%
share of reported value
Largest Position
+10.4%
Solid Power
New / Exited
138 / 65
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q3 ’24: $135MQ3 ’24Q4 ’24: $202MQ4 ’24Q1 ’25: $213MQ1 ’25Q2 ’25: $375MQ2 ’25Q3 ’25: $351MQ3 ’25Q4 ’25: $279MQ4 ’25Q1 ’26: $359MQ1 ’26filingsflow.com

Portfolio Composition

By security type
Other: 72.5%Common Stock: 24.9%ADR: 2.3%Equity WRT: 0.2%Right: 0.1%
  • Other · 72.5% · $260M
  • Common Stock · 24.9% · $89M
  • ADR · 2.3% · $8M
  • Equity WRT · 0.2% · $893,333
  • Right · 0.1% · $230,216

Quarter-over-Quarter Changes full breakdown →

vs Q4 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
SLDPSOLID POWER INCNEW+12.40M12.40M+$37M$37M
IONQIONQ INCNEW+815.5K815.5K+$24M$24M
CMPSCOMPASS PATHWAYS PLCNEW+1.49M1.49M+$8M$8M
SEALSQ CORPNEW+3.14M3.14M+$8M$8M
PONO CAP FOUR INCNEW+550.0K550.0K+$5M$5M
M3BRIGADE ACQUISITION V CORPNEW+500.0K500.0K+$5M$5M
DRUGS MADE IN AMER ACQ II CONEW+519.4K519.4K+$5M$5M
BHAV ACQUISITION CORPNEW+495.0K495.0K+$5M$5M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2026

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SLDPSOLID POWER INChistory →CLASS A COM10.37%$37M12.40M
2FLUTTER ENTMT PLCSHS8.36%$30M294.2K
3IONQIONQ INChistory →COM6.55%$24M815.5K
4CMPSCOMPASS PATHWAYS PLChistory →SPONSORED ADS2.30%$8M1.49M
5SEALSQ CORPORD SHS2.29%$8M3.14M
6FGMCFG MERGER II CORPhistory →COM2.22%$8M790.0K
7JACKSON ACQUISITION CO IICOM SHS CL A2.07%$7M700.0K
8DRUGS MADE IN AMER ACQUTN COORD SHS1.90%$7M650.0K
9PONO CAP FOUR INCUNIT 03/11/20311.53%$5M550.0K
10M3BRIGADE ACQUISITION V CORPCL A1.50%$5M500.0K
11DRUGS MADE IN AMER ACQ II COUSD ORD SHS1.44%$5M519.4K
12KOCHAV DEFENSE ACQUI COSHS CL A1.43%$5M500.0K
13BHAV ACQUISITION CORPUNIT 03/18/20311.38%$5M495.0K
14XFLH CAP CORPUNIT 99/99/99991.32%$5M475.0K
15IRHOIRON HORSE ACQUISIT II CORPhistory →COM1.29%$5M470.0K
16NMP ACQUISITION CORPCL A1.27%$5M450.0K
17CHURCHILL CAP CORP XICL A ORD SHS1.27%$5M448.2K
18EMPDEMPERY DIGITAL INChistory →COM NEW1.18%$4M1.00M
19GP-ACT III ACQUISITION CORPCL A1.17%$4M388.7K
20CADLCANDEL THERAPEUTICS INChistory →COM1.06%$4M775.0K
21ARMADA ACQUISITION CORP IIIUNIT 02/13/20311.02%$4M365.0K
22FIFTH ERA ACQUISITION CORP IORD SHS CL A1.00%$4M350.0K
23EMMIS ACQUISITION CORP.SHS CL A0.98%$4M350.0K
24FUTURE VISION II ACQUISITIONSHS0.98%$4M325.0K
25TWELVE SEAS INVT CO IIIORD SHS CL A0.97%$3M350.0K
26FLAG SHIP ACQUISITION CORPORD SHS0.92%$3M302.3K
27COPLEY ACQUISITION CORPORD SHS CL A0.86%$3M300.0K
28NEWBRIDGE ACQUISITION LTDUNIT 11/18/20300.84%$3M300.0K
29AI INFRASTRUCTURE ACQUISIORD SHS CL A0.84%$3M300.0K
30HENNESSY CAP INVTS CORP VIIIUNIT 02/02/20310.84%$3M300.0K
31FUTURE MONEY ACQUISITION CORUNIT 03/16/20310.83%$3M300.0K
32BLEICHROEDER ACQUISITI CORPUSD CL A ORD SHS0.78%$3M279.5K
33PLUM ACQUISITION CORP IVSHS CL A0.74%$3M250.0K
34THAYER VENTURES ACQ CORP IICL A0.71%$3M250.0K
35ORIGIN INVT CORP IORD SHS0.71%$3M249.9K
36OXLEY BRIDGE ACQ LTDUSD CL A ORD SHS0.71%$3M250.0K
37MESHFLOW ACQUISITION CORPUSD CL A ORD SHS0.69%$2M250.0K
38CHAMPIONSGATE ACQUISITION COSHS CL A0.61%$2M212.2K
39LAKE SUPERIOR ACQUISITION COUSD CL A ORD SHS0.59%$2M210.0K
40LAKESHORE ACQUISITION III COUSD ORD SHS0.57%$2M200.0K
41SIZZLE ACQUISITION CORP. IIUSD CL A ORD SHS0.57%$2M200.0K
42SOULPOWER ACQUISITION CORPUSD CL A ORD SHS0.57%$2M200.0K
43SPRING VY ACQUISITION CORP IUNIT 01/22/20310.57%$2M200.0K
44A PARADISE ACQUISITION CORPCOM CL A0.57%$2M199.6K
45SILVER PEGASUS ACQUISITION CSHS CL A0.56%$2M199.1K
46AA MISSION ACQUISITION CORPORD SHS CL A0.56%$2M200.0K
47CROWN RESV ACQUISITION CORPORD SHS CL A0.56%$2M200.0K
48KRAKACQUISITION CORPORATIONUNIT 12/23/20300.56%$2M200.0K
49DYNAMIX CORP IIIUSD CL A ORD SHS0.55%$2M200.0K
50ARMADA ACQUISITION CORP IICOM CL A0.55%$2M191.3K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$359M265May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$279M192Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$351M182Nov 18, 2025RESTATEMENTchanges · EDGAR ↗
Q2 2025$375M162Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$213M129May 14, 202513F-HRchanges · EDGAR ↗
Q4 2024$202M146Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$135M138Nov 14, 202413F-HRchanges · EDGAR ↗

Other Included Managers

This filing reports holdings on behalf of 1 additional manager.

  • CVI Investments, Inc.028-17822

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.