Managers / Q4 2025 · view latest →
GRITSTONE ASSET MANAGEMENT LLC
CIK 0001964236 · 4800 HAMPDEN LANE, SUITE 200, BETHESDA, MD, 20814 · 240-470-7001
Reported Value
$105M
Q4 2025
Positions
148
Filings on Record
11
2019–present window
Filed
Jan 23, 2026
original filing
Summary
Gritstone Asset Management LLC reported $105M in U.S.-listed holdings across 148 positions for Q4 2025.
Its largest position, ARCC, represents 8.6% of the portfolio.
Compared with Q3 2025, the fund opened 44 new positions and exited 20.
Portfolio Metrics
Turnover
+20.6%
vs prior filed quarter
Top-10 Concentration
+36.8%
share of reported value
Largest Position
+8.6%
Ares Capital
New / Exited
44 / 20
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
Portfolio Composition
By security type
- Other · 89.4% · $94M
- Common Stock · 8.6% · $9M
- Unit · 1.9% · $2M
Quarter-over-Quarter Changes full breakdown →
vs Q3 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| NWAX/UNEW AMER ACQUISITION I CORP | NEW | +195.0K | 195.0K | +$2M | $2M |
| TALON CAP CORP | NEW | +150.0K | 150.0K | +$2M | $2M |
| LEAPFROG ACQUISITION CORP | NEW | +150.0K | 150.0K | +$2M | $2M |
| HIGHVIEW MERGER CORP | NEW | +127.0K | 127.0K | +$1M | $1M |
| ALUSSA ENERGY ACQUISITION CO | NEW | +125.0K | 125.0K | +$1M | $1M |
| OTG ACQUISITION CORP. I | NEW | +125.0K | 125.0K | +$1M | $1M |
| BLUEROCK ACQUISITION CORP | NEW | +125.0K | 125.0K | +$1M | $1M |
| LAUNCHPAD CADENZA ACQUISITIO | NEW | +125.0K | 125.0K | +$1M | $1M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2025
94 positions
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | ARCCARES CAPITAL CORPhistory → | COM | 8.63% | $9M | 446.9K |
| 2 | EQV VENTURES ACQUISITION COR | CL A ORD SHS · *W EXP 07/01/203 | 4.09% | $4M | 537.0K |
| 3 | ALDEL FINL II INC | CL A · *W EXP 09/26/203 | 4.05% | $4M | 591.3K |
| 4 | OAKTREE ACQUISITION CORP III | SHS CL A · *W EXP 09/01/203 | 4.04% | $4M | 473.9K |
| 5 | BOLD EAGLE ACQUISITION CORP | CL A · RIGHT 10/11/2029 | 3.60% | $4M | 738.4K |
| 6 | CENTURION ACQUISITION CORP | SHS CL A · *W EXP 05/31/203 | 3.00% | $3M | 436.5K |
| 7 | LIONHEART HOLDINGS | SHS CL A · *W EXP 06/07/203 | 2.98% | $3M | 436.5K |
| 8 | VINE HILL CAP INVT CORP. | ORD SHS CL A · *W EXP 07/01/203 | 2.19% | $2M | 295.4K |
| 9 | INFLECTION POINT ACQUISITION | SHS CL A · RIGHT 11/04/2026 | 2.15% | $2M | 393.6K |
| 10 | CHURCHILL CAPITAL CORP IX | CL A SHS · *W EXP 03/31/203 | 2.03% | $2M | 344.2K |
| 11 | HENNESSY CAP INVT CORP VII | ORD SHS CL A · RIGHT 01/17/2030 | 2.01% | $2M | 395.8K |
| 12 | ARTIUS II ACQUISITION INC | SHS CL A · RIGHT 11/27/2029 | 2.00% | $2M | 395.3K |
| 13 | RITHM ACQUISITION CORP | CL A · *W EXP 99/99/999 | 2.00% | $2M | 263.5K |
| 14 | NWAX/UNEW AMER ACQUISITION I CORPhistory → | UNIT 99/99/9999 | 1.94% | $2M | 195.0K |
| 15 | GRAF GLOBAL CORP | ORD SHS CL A · *W EXP 05/31/203 | 1.83% | $2M | 262.0K |
| 16 | CRANE HBR ACQUISITION CORP | CL A · RIGHT 04/17/2030 | 1.65% | $2M | 298.3K |
| 17 | LAUNCH TWO ACQUISITION CORP. | ORD SHS CL A · *W EXP 10/09/202 | 1.49% | $2M | 220.2K |
| 18 | K&F GROWTH ACQUISITION CORP | SHS CL A · RIGHT 08/29/2031 | 1.49% | $2M | 297.5K |
| 19 | TALON CAP CORP | ORD SHS CL A · *W EXP 08/27/203 | 1.48% | $2M | 200.0K |
| 20 | D. BORAL ARC ACQ I CORP. | SHS CL A · *W EXP 07/23/203 | 1.46% | $2M | 225.0K |
| 21 | LEAPFROG ACQUISITION CORP | UNIT 11/10/2030 | 1.43% | $2M | 150.0K |
| 22 | STELLAR V CAP CORP | SHS CL A · *W EXP 10/15/202 | 1.34% | $1M | 200.7K |
| 23 | NEWHOLD INVT CORP III | ORD SHS CL A · *W EXP 01/30/203 | 1.25% | $1M | 185.3K |
| 24 | HIGHVIEW MERGER CORP | ORD SH CL A · *W EXP 07/24/203 | 1.23% | $1M | 190.5K |
| 25 | OTG ACQUISITION CORP. I | ORD CL A · *W EXP 09/05/203 | 1.21% | $1M | 187.5K |
| 26 | OXLEY BRIDGE ACQ LTD | USD CL A ORD SHS · *W EXP 06/17/203 | 1.21% | $1M | 186.4K |
| 27 | SOLARIUS CAPITAL ACQU CORP | SHS CL A · *W EXP 07/10/203 | 1.21% | $1M | 160.0K |
| 28 | ALUSSA ENERGY ACQUISITION CO | UNIT 99/99/9999 | 1.20% | $1M | 125.0K |
| 29 | BLUEROCK ACQUISITION CORP | UNIT 11/06/2030 | 1.19% | $1M | 125.0K |
| 30 | LAUNCHPAD CADENZA ACQUISITIO | UNIT 12/15/2030 | 1.19% | $1M | 125.0K |
| 31 | SILICON VY ACQUISITION CORP | UNIT 12/08/2030 | 1.19% | $1M | 125.0K |
| 32 | GALATA ACQUISITION CORP II | ORD SHS CL A · *W EXP 09/12/203 | 1.02% | $1M | 141.7K |
| 33 | FACT II ACQUISITION CORP | ORD SHS CL A · *W EXP 11/26/203 | 1.01% | $1M | 150.0K |
| 34 | CARTESIAN GROWTH CORP III | COM CL A · *W EXP 05/02/203 | 1.01% | $1M | 148.3K |
| 35 | ARCHIMEDES TECH SPAC PARTNER | ORD SHS · *W EXP 10/15/202 | 1.01% | $1M | 148.6K |
| 36 | RICE ACQUISITION CORP 3 | ORD SHS CL A · *W EXP 99/99/999 | 0.99% | $1M | 116.7K |
| 37 | GESHER ACQUISITION CORP. II | USD CL A ORD SHS · *W EXP 10/31/203 | 0.99% | $1M | 148.2K |
| 38 | SPRING VY ACQUISITION CORP I | SHS CL A · *W EXP 09/04/203 | 0.99% | $1M | 133.3K |
| 39 | REPUBLIC DIGITAL ACQUISITION | USD CL A ORD SHS · *W EXP 05/01/203 | 0.98% | $1M | 148.3K |
| 40 | TITAN ACQUISITION CORP | CL A · *W EXP 05/16/203 | 0.98% | $1M | 148.1K |
| 41 | JENA ACQUISITION CORP II | USD CL A ORD SHS · RIGHT 03/31/2030 | 0.98% | $1M | 197.7K |
| 42 | SIZZLE ACQUISITION CORP. II | USD CL A ORD SHS · RIGHT 04/02/2030 | 0.97% | $1M | 198.0K |
| 43 | BERTO ACQUISITION CORP | ORD SHS · *W EXP 05/01/203 | 0.97% | $1M | 148.3K |
| 44 | TRAILBLAZER ACQUISITION CORP | ORD SHS CL A · *W EXP 09/30/203 | 0.97% | $1M | 133.3K |
| 45 | WEN ACQUISITION CORP | COM CL A · *W EXP 99/99/999 | 0.97% | $1M | 148.3K |
| 46 | DAEDALUS SPL ACQUISITION COR | UNIT 11/10/2030 | 0.96% | $1M | 100.0K |
| 47 | EQV VENTURES AC CORP. II | ORD SHS CL A · *W EXP 06/30/203 | 0.96% | $1M | 131.8K |
| 48 | ACTIVATE ENERGY ACQUISITION | UNIT 11/10/2030 | 0.95% | $999,500 | 100.0K |
| 49 | LIVE OAK ACQUISITION CORP V | CL A SHS · *W EXP 99/99/999 | 0.92% | $965,413 | 160.8K |
| 50 | PERCEPTIVE CAP SOLUTIONS COR | CL A ORD SHS | 0.90% | $947,893 | 72.7K |
| 51 | TRANSLATIONAL DEV ACQUISITIO | COM CL A · *W EXP 12/18/202 | 0.85% | $890,465 | 125.5K |
| 52 | SAFEGUARD ACQUISITION CORP | UNIT 99/99/9999 | 0.72% | $756,375 | 75.0K |
| 53 | CRANE HBR ACQUISITION CORP I | UNIT 12/09/2030 | 0.72% | $755,250 | 75.0K |
| 54 | VIKING ACQUISITION CORP I | ORD CL A · *W EXP 11/03/203 | 0.72% | $753,000 | 100.0K |
| 55 | GENERAL PURP ACQUISITION COR | UNIT 12/03/2030 | 0.72% | $750,750 | 75.0K |
| 56 | PIONEER ACQUISITION I CORP | CL A ORD SHS · *W EXP 06/16/203 | 0.67% | $705,718 | 104.0K |
| 57 | LAUNCH ONE ACQUISITION CORP | SHS CLASS A · *W EXP 06/01/203 | 0.65% | $685,734 | 144.2K |
| 58 | AMERICAN EXCEPTIONALISM ACQU | ORD CL A | 0.54% | $569,500 | 50.0K |
| 59 | CAL REDWOOD ACQUISITION CORP | COM CL A · RIGHT 05/15/2030 | 0.49% | $517,215 | 98.9K |
| 60 | EGH ACQUISITION CORP. | SHS CL A · RIGHT 99/99/9999 | 0.49% | $513,021 | 98.8K |
| 61 | 1RT ACQUISITION CORP. | USD CL A ORD SHS · *W EXP 06/26/203 | 0.49% | $511,386 | 61.8K |
| 62 | HCM III ACQUISITION CORP | ORD SHS CL A · *W EXP 07/23/203 | 0.49% | $510,333 | 66.7K |
| 63 | GIGCAPITAL8 CORP | ORD CL A · RIGHT 09/30/2030 | 0.49% | $510,000 | 100.0K |
| 64 | OYSTER ENTERPRISES II ACQUIS | ORD SHS CL A · RIGHT 05/22/2030 | 0.49% | $509,613 | 98.9K |
| 65 | PYROPHYTE ACQUISITION CORP. | CL A SHS · *W EXP 07/30/203 | 0.49% | $508,876 | 74.4K |
| 66 | EVOLUTION GLOBAL ACQUISITION | USD CL A ORD SHS · *W EXP 10/22/203 | 0.48% | $504,500 | 75.0K |
| 67 | SILVERBOX CORP V | UNIT 99/99/9999 | 0.48% | $503,000 | 50.0K |
| 68 | DYNAMIX CORP III | UNIT 10/09/2030 | 0.48% | $502,500 | 50.0K |
| 69 | INVEST GREEN ACQUISITION COR | UNIT 11/04/2030 | 0.48% | $501,500 | 50.0K |
| 70 | APEX TREAS CORP | ORD SHS CL A · *W EXP 10/07/203 | 0.48% | $501,443 | 75.0K |
| 71 | TAILWIND 2.0 ACQUISITION COR | ORD SHS CL A · RIGHT 11/07/2030 | 0.48% | $500,700 | 100.0K |
| 72 | KARBON CAP PARTNERS CORP | UNIT 12/11/2030 | 0.38% | $402,600 | 40.0K |
| 73 | BITCOIN INFRASTRUCTURE ACQUI | UNIT 11/06/2030 | 0.33% | $348,600 | 35.0K |
| 74 | HALL CHADWICK ACQUISITION CO | UNIT 11/20/2030 | 0.24% | $250,500 | 25.0K |
| 75 | HAYMAKER ACQUISITION CORP IV | *W EXP 05/31/202 | 0.15% | $160,957 | 103.8K |
| 76 | AGRICULTURE & NAT SOL ACQ CO | *W EXP 10/01/202 | 0.15% | $155,155 | 484.9K |
| 77 | VINE HILL CAP INVTS CORP II | UNIT 11/25/2030 | 0.12% | $125,263 | 12.5K |
| 78 | LEGATO MERGER CORP III | *W EXP 05/08/203 | 0.09% | $94,975 | 231.6K |
| 79 | GP-ACT III ACQUISITION CORP | *W EXP 05/13/202 | 0.06% | $58,570 | 217.2K |
| 80 | FLAG SHIP ACQUISITION CORP | RIGHT 03/31/2026 | 0.04% | $39,976 | 182.4K |
| 81 | ANDRETTI ACQUISITION CORP II | *W EXP 06/01/203 | 0.03% | $34,458 | 119.4K |
| 82 | INFLECTION PT ACQUISITION CO | RIGHT 04/25/2030 | 0.03% | $33,630 | 89.0K |
| 83 | RANGE CAP ACQUISITION CORP | RIGHT 99/99/9999 | 0.03% | $33,255 | 73.9K |
| 84 | A SPAC III ACQUISITION CORP | RIGHT 01/02/2026 | 0.03% | $28,066 | 147.7K |
| 85 | A PARADISE ACQUISITION CORP | RIGHT 07/29/2025 | 0.02% | $25,000 | 100.0K |
| 86 | SILVERBOX CORP IV | *W EXP 08/19/202 | 0.02% | $20,562 | 73.4K |
| 87 | VOYAGER ACQUISITION CORP | *W EXP 05/16/203 | 0.02% | $20,017 | 97.6K |
| 88 | ALCHEMY INVTS ACQUISITN CORP | *W EXP 11/30/202 | 0.02% | $19,726 | 93.9K |
| 89 | SIM ACQUISITION CORP. I | *W EXP 06/01/203 | 0.02% | $16,272 | 75.5K |
| 90 | KOCHAV DEFENSE ACQUI CO | RIGHT 05/21/2030 | 0.01% | $13,049 | 54.4K |
| 91 | PROCAP ACQUISITION CORP | *W EXP 05/16/203 | 0.01% | $12,229 | 33.0K |
| 92 | JACKSON ACQUISITION CO II | RIGHT 99/99/9999 | 0.01% | $9,825 | 39.3K |
| 93 | MELAR ACQUISITION CORP. I | *W EXP 06/01/203 | 0.01% | $6,177 | 44.1K |
| 94 | PLUM ACQUISITION CORP IV | *W EXP 08/19/202 | 0.00% | $3,344 | 12.4K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $94M | 154 | May 5, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $105M | 148 | Jan 23, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $97M | 124 | Nov 4, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $101M | 120 | Jul 25, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $95M | 89 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $80M | 121 | Oct 20, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $82M | 131 | Aug 7, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $79M | 167 | May 5, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $79M | 213 | Feb 15, 2023 | RESTATEMENT | changes · 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 ↗.