Radcliffe Capital Management, L.P. Q3 2025 Filing

Filed November 14, 2025

Portfolio Value

$1.6B

Holdings

237

Report Date

Q3 2025

Filing Type

13F-HR

All Holdings (237 positions)

#	Stock	Shares	Value	% Portfolio
1	ENPH 0 03/01/26Enphase Energy Inc	142,750,000	$139.0M	8.61%
2	DXCM 0.25 11/15/25DexCom Inc.	119,027,000	$118.1M	7.31%
3	NMFC 7.5 10/15/25New Mountain Finance Corporation	114,047,000	$114.0M	7.06%
4	TDOC 1.25 06/01/27Teladoc Health Inc	115,750,000	$108.1M	6.70%
5	FVRR 0 11/01/25Fiverr International Ltd	103,677,000	$103.2M	6.39%
6	MGNI 0.25 03/15/26Magnite Inc.	74,767,000	$72.7M	4.50%
7	RNG 0 03/15/26RingCentral Inc	68,006,000	$66.3M	4.11%
8	VAC 0 01/15/26Marriott Vacations Worldwide Corp	57,500,000	$56.5M	3.50%
9	BAND 0.5 04/01/28Bandwidth Inc	49,900,000	$42.4M	2.62%
10	ENPH 0 03/01/28Enphase Energy Inc	42,639,000	$36.9M	2.29%
11	ETSY 0.25 06/15/28Etsy Inc	38,000,000	$33.5M	2.08%
12	CABO 0 03/15/26Cable One Inc	34,255,000	$33.4M	2.07%
13	ALRM 0 01/15/26Alarm.com Holdings Inc	22,250,000	$21.9M	1.36%
14	GLAD 5.875 10/01/30Gladstone Capital Corp	18,000,000	$17.8M	1.10%
15	U 0 11/15/26Unity Software Inc	18,461,000	$17.6M	1.09%
16	ARRY 1 12/01/28Array Technologies Inc	15,500,000	$13.4M	0.83%
17	FUBO 3.25 02/15/26FuboTV Inc	11,737,000	$11.6M	0.72%
18	UPWK 0.25 08/15/26Upwork Inc	11,123,000	$10.8M	0.67%
19	ETSY 0.125 09/01/27Etsy Inc	11,600,000	$10.7M	0.66%
20	BL 0 03/15/26BlackLine Inc	10,692,000	$10.4M	0.65%
21	MTN 0 01/01/26Vail Resorts Inc	10,000,000	$9.9M	0.61%
22	BACQBleichroeder Acquisition Corp I	912,239	$9.5M	0.59%
23	FTWEQV Ventures Acquisition Corp II	860,000	$8.6M	0.53%
24	ABNB 0 03/15/26Airbnb Inc	7,780,000	$7.6M	0.47%
25	SNOW 0 10/01/27Snowflake Inc	5,000,000	$7.6M	0.47%
26	COIN 0.25 04/01/30Coinbase Global Inc	6,000,000	$7.5M	0.47%
27	BILL 0 04/01/27BILL Holdings Inc	7,302,000	$6.8M	0.42%
28	GTENGores Holdings X Inc	658,063	$6.7M	0.42%
29	FIVN 1 03/15/29Five9 Inc	7,500,000	$6.6M	0.41%
30	AACBArtius II Acquisition Inc	650,000	$6.6M	0.41%
31	ATIIArchimedes Tech SPAC Partners Co	611,522	$6.3M	0.39%
32	GPATGP-Act III Acquisition Corp	572,895	$6.1M	0.38%
33	PACHPioneer Acquisition I Corp	592,475	$5.9M	0.37%
34	LOBLive Oak Acquisition Corp V	575,000	$5.9M	0.36%
35	MBVIM3-Brigade Acquisition VI Corp	575,000	$5.8M	0.36%
36	HCMAHCM III Acquisition Corp	575,000	$5.8M	0.36%
37	—Hennessy Capital Investment Corp VII	568,447	$5.8M	0.36%
38	DMIIDrugs Made In America Acquisition II Corp	575,000	$5.7M	0.35%
39	NPACNew Providence Acquisition Corp III	558,386	$5.7M	0.35%
40	MSTRMICROSTRATEGY INC	2,500,000	$5.6M	0.35%
41	SDHISiddhi Acquisition Corp	550,000	$5.6M	0.35%
42	CCIICohen Circle Acquisition Corp II	550,000	$5.6M	0.35%
43	SOULSoulpower Acquisition Corp	550,126	$5.6M	0.34%
44	OTGAOTG Acquisition Corp I	550,000	$5.5M	0.34%
45	GIGGigCapital7 Corp	523,973	$5.5M	0.34%
46	YCYAA Mission Acquisition Corp	516,776	$5.4M	0.34%
47	NVCR 0 11/01/25Novocure Ltd	5,480,000	$5.4M	0.34%
48	DMIIDrugs Made In America Acquisition Corp	528,100	$5.4M	0.34%
49	DRDBRoman DBDR Acquisition Corp II	525,000	$5.4M	0.34%
50	HVMCHighview Merger Corp	532,201	$5.4M	0.33%
51	SIMASIM Acquisition Corp I	510,032	$5.4M	0.33%
52	OBAOxley Bridge Acquisition Ltd	538,089	$5.4M	0.33%
53	CHACRCrane Harbor Acquisition Corp	525,000	$5.3M	0.33%
54	TLNCUTalon Capital Corp	529,232	$5.3M	0.33%
55	JACSJackson Acquisition Co II	512,173	$5.3M	0.33%
56	TACHTitan Acquisition Corp	525,000	$5.3M	0.33%
57	COPLCopley Acquisition Corp	523,589	$5.3M	0.33%
58	OYSEOyster Enterprises II Acquisition Corp	525,110	$5.3M	0.33%
59	KCHVKochav Defense Acquisition Corp	525,000	$5.3M	0.33%
60	VACHVoyager Acquisition Corp	500,000	$5.2M	0.33%
61	BLZRTrailblazer Acquisition Corp	512,705	$5.2M	0.32%
62	TDACWTranslational Development Acquisition Corp	504,305	$5.2M	0.32%
63	KFIIK&F Growth Acquisition Corp II	508,291	$5.2M	0.32%
64	BL 1 06/01/29BlackLine Inc	5,000,000	$5.2M	0.32%
65	FACTFact II Acquisition Corp	500,000	$5.2M	0.32%
66	DBX 0 03/01/28Dropbox Inc	5,000,000	$5.2M	0.32%
67	CEPFCantor Equity Partners IV Inc	504,049	$5.1M	0.32%
68	CGCTCartesian Growth Corporation III	508,413	$5.1M	0.32%
69	NHICNewHold Investment Corp III	493,204	$5.0M	0.31%
70	TVAIThayer Ventures Acquisition Corp II	500,000	$5.0M	0.31%
71	XRPNArmada Acquisition Corp II	479,191	$5.0M	0.31%
72	POLEAndretti Acquisition Corp II	477,001	$5.0M	0.31%
73	EGHAEGH Acquisition Corp	478,972	$4.8M	0.30%
74	BACCBlue Acquisition Corp	479,220	$4.8M	0.30%
75	EMISEmmis Acquisition Corp	475,000	$4.7M	0.29%
76	BLUWBlue Water Acquisition Corp III	475,000	$4.7M	0.29%
77	TVATexas Ventures Acquisition III Corp	442,191	$4.7M	0.29%
78	LWACLightwave Acquisition Corp	475,000	$4.7M	0.29%
79	AXINAxiom Intelligence Acquisition Corp 1	472,187	$4.7M	0.29%
80	CRAQCal Redwood Acquisition Corp.	469,046	$4.7M	0.29%
81	—CSLM Digital Asset Acquisition Corp III Ltd	464,278	$4.6M	0.29%
82	DXCM 0.375 05/15/28DexCom Inc.	5,000,000	$4.6M	0.28%
83	BCARD Boral ARC Acquisition I Corp	455,349	$4.5M	0.28%
84	MACIMelar Acquisition Corp I	426,939	$4.5M	0.28%
85	ANSCAgriculture & Natural Solutions Acquisition Corp	404,458	$4.4M	0.27%
86	ALFCenturion Acquisition Corp	416,795	$4.4M	0.27%
87	PLMKPlum Acquisition Corp IV	425,330	$4.4M	0.27%
88	AEXAAmerican Exceptionalism Acquisition Corp A	400,000	$4.4M	0.27%
89	WENNWen Acquisition Corp	427,777	$4.3M	0.27%
90	SZZLSizzle Acquisition Corp II	427,445	$4.3M	0.27%
91	JENAJena Acquisition Corp II	415,634	$4.2M	0.26%
92	FTWEQV Ventures Acquisition Corp	397,032	$4.1M	0.26%
93	GSRFGSR IV Acquisition Corp	403,911	$4.1M	0.25%
94	RACRithm Acquisition Corp	399,101	$4.1M	0.25%
95	IPODDune Acquisition Corp II	400,000	$4.0M	0.25%
96	RAAQReal Asset Acquisition Corp	384,606	$3.9M	0.24%
97	LEGTLegato Merger Corp III	362,491	$3.9M	0.24%
98	NMPNMP Acquisition Corp	374,900	$3.7M	0.23%
99	CCCXChurchill Capital Corp X	283,917	$3.7M	0.23%
100	—Spring Valley Acquisition Corp. III	354,972	$3.6M	0.23%

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