SEC 13F Intelligence

Managers / Q1 2025 · view latest →

GRITSTONE ASSET MANAGEMENT LLC

CIK 0001964236 · 4800 HAMPDEN LANE, SUITE 200, BETHESDA, MD, 20814 · 240-470-7001

Reported Value
$95M
Q1 2025
Positions
89
Filings on Record
11
2019–present window
Filed
May 15, 2025
original filing

Summary

Gritstone Asset Management LLC reported $95M in U.S.-listed holdings across 89 positions for Q1 2025.

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

Compared with Q3 2023, the fund opened 80 new positions and exited 112.

Portfolio Metrics

Turnover
+90.6%
vs prior filed quarter
Top-10 Concentration
+50.8%
share of reported value
Largest Position
+10.4%
Ares Capital
New / Exited
80 / 112
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, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. 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
Q4 ’22: $79MQ4 ’22Q1 ’23: $79MQ2 ’23: $82MQ2 ’23Q3 ’23: $80MQ1 ’25: $95MQ1 ’25Q2 ’25: $101MQ3 ’25: $97MQ3 ’25Q4 ’25: $105MQ1 ’26: $94MQ1 ’26filingsflow.com

Portfolio Composition

By security type
Other: 89.6%Common Stock: 10.4%Right: 0.1%Equity WRT: 0.0%
  • Other · 89.6% · $85M
  • Common Stock · 10.4% · $10M
  • Right · 0.1% · $53,243
  • Equity WRT · 0.0% · $3,606

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline) · note: prior filed quarter, not the immediately preceding one

IssuerMoveShare ΔShares nowValue ΔValue now
ARCCARES CAPITAL CORPNEW+446.6K446.6K+$10M$10M
CHURCHILL CAPITAL CORP IXNEW+638.3K638.3K+$7M$7M
GP-ACT III ACQUISITION CORPNEW+439.9K439.9K+$5M$5M
M3BRIGADE ACQUISITION V CORPNEW+406.2K406.2K+$4M$4M
EQV VENTURES ACQUISITION CORNEW+407.5K407.5K+$4M$4M
OAKTREE ACQUISITION CORP IIINEW+398.6K398.6K+$4M$4M
BOLD EAGLE ACQUISITION CORPNEW+398.7K398.7K+$4M$4M
ALDEL FINL II INCNEW+399.1K399.1K+$4M$4M

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

Holdings — Q1 2025

65 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ARCCARES CAPITAL CORPhistory →COM10.39%$10M446.6K
2CHURCHILL CAPITAL CORP IXCL A SHS · *W EXP 03/31/2037.36%$7M797.9K
3GP-ACT III ACQUISITION CORPCL A · *W EXP 05/13/2024.80%$5M659.9K
4M3BRIGADE ACQUISITION V CORPCL A · *W EXP 99/99/9994.43%$4M609.3K
5EQV VENTURES ACQUISITION CORCL A ORD SHS · *W EXP 07/01/2034.38%$4M543.4K
6BOLD EAGLE ACQUISITION CORPCL A · RIGHT 10/11/20294.34%$4M797.3K
7OAKTREE ACQUISITION CORP IIISHS CL A · *W EXP 09/01/2034.34%$4M478.4K
8ALDEL FINL II INCCL A · *W EXP 09/26/2034.30%$4M598.6K
9CENTURION ACQUISITION CORPSHS CL A · *W EXP 05/31/2033.21%$3M441.9K
10LIONHEART HOLDINGSSHS CL A · *W EXP 06/07/2033.20%$3M441.9K
11DYNAMIX CORPUNIT 99/99/99992.64%$3M250.0K
12ANDRETTI ACQUISITION CORP IIORD SHS CL A · *W EXP 06/01/2032.59%$2M362.5K
13HCM II ACQUISITION CORPSHS CL A · *W EXP 99/99/9992.55%$2M335.8K
14SILVERBOX CORP IVSHS CL A · *W EXP 08/19/2022.40%$2M296.2K
15GSR III ACQUISITION CORPUNIT 99/99/99992.15%$2M199.3K
16VINE HILL CAP INVT CORP.ORD SHS CL A · *W EXP 07/01/2032.15%$2M299.0K
17BLEICHROEDER ACQUISITION CORSHS CL A · RIGHT 11/04/20262.13%$2M398.6K
18RITHM ACQUISITION CORPUNIT 99/99/99992.12%$2M200.0K
19WILLOW LANE ACQUISITION CORPORD SHS CL A · *W EXP 10/31/2032.12%$2M299.0K
20HENNESSY CAP INVT CORP VIIUNIT 99/99/99992.11%$2M200.0K
21ARTIUS II ACQUISITION INCUNIT 11/27/20292.11%$2M200.0K
22BLACK SPADE ACQUISITION II CCL A · *W EXP 02/15/2022.03%$2M253.1K
23GRAF GLOBAL CORPORD SHS CL A · *W EXP 05/31/2031.95%$2M269.4K
24MOUNTAIN LAKE ACQUISITION COSHS CL A · RIGHT 11/15/20281.82%$2M338.6K
25LAUNCH ONE ACQUISITION CORPSHS CLASS A · *W EXP 06/01/2031.78%$2M247.2K
26LAUNCH TWO ACQUISITION CORP.ORD SHS CL A · *W EXP 10/09/2021.60%$2M224.0K
27A SPAC III ACQUISITION CORPORD SHS CL A · RIGHT 01/02/20261.60%$2M299.0K
28K&F GROWTH ACQUISITION CORPUNIT 99/99/99991.59%$2M150.0K
29STELLAR V CAP CORPUNIT 99/99/99991.43%$1M135.0K
30NEWHOLD INVT CORP IIIUNIT 99/99/99991.32%$1M125.0K
31LIVE OAK ACQUISITION CORP VUNIT 02/20/20301.06%$1M100.0K
32FACT II ACQUISITION CORPUNIT 99/99/99991.06%$1M100.0K
33ARCHIMEDES TECH SPAC PARTNERUNIT 10/15/20291.06%$1M100.0K
34GESHER ACQUISITION CORP. IIUNIT 03/11/20301.05%$1M100.0K
35TRANSLATIONAL DEV ACQUISITIOUNIT 99/99/99990.90%$856,99284.5K
36RANGE CAP ACQUISITION CORPORD SHS · RIGHT 99/99/99990.80%$763,588149.4K
37PERCEPTIVE CAP SOLUTIONS CORCL A ORD SHS0.80%$758,59573.7K
38CANTOR EQUITY PARTNERS INCSHS CL A0.70%$667,27662.1K
39JACKSON ACQUISITION CO IICOM SHS CL A · RIGHT 99/99/99990.43%$411,21179.7K
40PLUM ACQUISITION CORP IVUNIT 08/19/20290.27%$252,50025.0K
41AGRICULTURE & NAT SOL ACQ CO*W EXP 10/01/2020.15%$146,991490.0K
42ARES ACQUISITION CORP II*W EXP 99/99/9990.15%$141,445487.7K
43HENNESSY CAPITAL INVST CORP*W EXP 99/99/9990.11%$101,327675.5K
44ISRAEL ACQUISITIONS CORP*W EXP 99/99/9990.08%$76,367694.2K
45NABORS ENERGY TRANSITION COR*W EXP 09/01/2020.07%$68,099171.5K
46LEGATO MERGER CORP III*W EXP 05/08/2030.05%$45,134234.0K
47IRON HORSE ACQUISITIONS CORPRIGHT 99/99/9999 · *W EXP 99/99/9990.04%$37,415225.4K
48AIMEI HEALTH TECHNOLOGY CO LRIGHT 11/17/20280.04%$35,82099.5K
49BAYARBAYVIEW ACQUISITION CORPRIGHT 99/99/99990.03%$24,034128.2K
50FLAG SHIP ACQUISITION CORPRIGHT 03/31/20260.02%$22,838184.6K
51HAYMAKER ACQUISITION CORP IV*W EXP 05/31/2020.02%$21,979104.9K
52QETARQUETTA ACQUISITION CORPRIGHT 11/30/20240.02%$20,87612.7K
53GIGCAPITAL7 CORP*W EXP 08/29/2020.02%$19,063199.2K
54SPARK I ACQUISITION CORP*W EXP 10/01/2030.02%$15,11998.0K
55VOYAGER ACQUISITION CORP*W EXP 05/16/2030.02%$14,82698.7K
56INVESTCORP AI ACQUISITION CO*W EXP 06/01/2020.01%$12,836641.8K
57DT CLOUD ACQUISITION CORPRIGHT 02/14/20290.01%$11,87249.5K
58ALCHEMY INVTS ACQUISITN CORP*W EXP 11/30/2020.01%$10,51895.6K
59SIM ACQUISITION CORP. I*W EXP 06/01/2030.01%$9,94876.5K
60JVSPAC ACQUISITION CORPRIGHT 11/26/20260.01%$9,65434.5K
61GLOBAL LIGHTS ACQUISITION CORIGHT 99/99/99990.01%$8,62939.2K
62ESHARESH ACQUISITION CORPRIGHT 99/99/99990.01%$8,33398.0K
63MELAR ACQUISITION CORP. I*W EXP 06/01/2030.01%$6,14445.6K
64RF ACQUISITION CORP IIRIGHT 05/01/20260.00%$1,88123.5K
65KEEN VISION ACQUISITION CORP*W EXP 03/15/2020.00%$1,59349.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$94M154May 5, 202613F-HRchanges · EDGAR ↗
Q4 2025$105M148Jan 23, 202613F-HRchanges · EDGAR ↗
Q3 2025$97M124Nov 4, 202513F-HRchanges · EDGAR ↗
Q2 2025$101M120Jul 25, 202513F-HRchanges · EDGAR ↗
Q1 2025$95M89May 15, 202513F-HRchanges · EDGAR ↗
Q3 2023$80M121Oct 20, 202313F-HRchanges · EDGAR ↗
Q2 2023$82M131Aug 7, 202313F-HRchanges · EDGAR ↗
Q1 2023$79M167May 5, 202313F-HRchanges · EDGAR ↗
Q4 2022$79M213Feb 15, 2023RESTATEMENTchanges · EDGAR ↗

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 ↗.