Cable Car Capital, LP

Key Holdings

The most defining feature of this portfolio is its extreme concentration in Strategy Inc, which accounts for 47.35% of the total portfolio value ($96.44 million). This represents a conviction bet that dominates the fund's performance profile. Outside of this singular giant, the portfolio is composed of micro-cap and small-cap names, with the second-largest holding, Sify Technologies Ltd, representing a much smaller 7.56% allocation ($15.40 million).

The remaining top positions, such as Forte Biosciences Inc (3.68%) and Alpha Cognition Inc (2.78%), are predominantly small-cap biotechnology and special situations. A notable portion of the top ten includes closed-end funds like Cornerstone Strategic Invest and Cornerstone Total Return Fund, as well as Special Purpose Acquisition Companies (SPACs) such as Melar Acquisition Corp. I. This mix suggests the fund manager is seeking yield or arbitrage opportunities through closed-end funds while simultaneously speculating on merger events and biometric catalysts in the micro-cap space.