Context Capital Management, LLC

Hedge Fund • Convert Bond Arb

Context Capital Management, LLC is a Hedge Fund specializing in Convert Bond Arb based in La Jolla, CA led by Michael Stuart Rosen, reporting $5.0B in AUM as of Q3 2025 with 89% Unknown concentration.

CEOMichael Stuart Rosen

Portfolio Value: $187.8M
Positions: 98
Top Holding: IBIT at 4.98%
Last Reported: Q3 2025

Address7724 Girard Avenue, Suite 300, La Jolla, CA, 92037, United States

Top Holdings

Largest long holdings in Context Capital Management, LLC's portfolio (33.7% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 iShares Bitcoin Trust IBIT	ETF ETF	$9.4M	4.98%	—	— 144.0K shares	Q1 2024 Held for 1y 8m
2 Plum Acquisition Corp. IV Class A Ordinary Shares PLMK	Unknown Unknown	$7.2M	3.85%	—	2.89% 700.0K shares	Q1 2025 Held for 8 months
3 GTERA Globa Terra Acquisition Corporation Class A Ordinary Shares GTERA	Unknown Unknown	$7.0M	3.72%	+$7.0M New	3.00% 700.0K shares	Q3 2025 Held for 2 months
4 SVACU Starboard Value Acquisition Corp. SVACU	Unknown Unknown	$6.6M	3.54%	+$6.6M New	— 646.0K shares	Q3 2025 Held for 2 months
5 SZZL Sizzle Acquisition Corp. SZZL	Unknown Unknown	$6.0M	3.22%	—	1.92% 600.0K shares	Q2 2025 Held for 5 months
6 BCAR D. Boral ARC Acquisition I Corp. Class A Ordinary Shares BCAR	Unknown Unknown	$6.0M	3.17%	+$6.0M New	1.42% 600.0K shares	Q3 2025 Held for 2 months
7 Soulpower Acquisition Corporation SOUL	Unknown Unknown	$5.9M	3.13%	+$5.9M New	1.72% 582.5K shares	Q3 2025 Held for 2 months
8 Republic Digital Acquisition Company Class A Ordinary Shares RDAG	Unknown Unknown	$5.1M	2.72%	—	1.33% 500.0K shares	Q2 2025 Held for 5 months
9 CCII Cohen Circle Acquisition Corp. II Class A Ordinary Shares CCII	Unknown Unknown	$5.1M	2.70%	+$5.1M New	1.44% 500.0K shares	Q3 2025 Held for 2 months
10 HCMA HCM III Acquisition Corp. HCMA	Unknown Unknown	$5.1M	2.69%	+$5.1M Bought	1.48% 500.0K shares	Q3 2025 Held for 2 months

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Context Capital Management, LLC's latest filing

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Market Value

$187.8M

Prior: $90.9M

Q/Q Change

+106.67%

+$96.9M

Net Flows % of MV

+49.11%

Turnover Ratio

32.57%

New Purchases

42 stocks

$105.1M

Added To

0 stocks

Sold Out Of

17 stocks

$7.3M

Reduced Holdings

9 stocks

-$5.6M

Increased Positions

Position	Shares Δ	Change
1 GTERA Globa Terra Acquisition Corporation Class A Ordinary Shares GTERA	New	0 → 700.0K +$7.0M
2 SVACU Starboard Value Acquisition Corp. SVACU	New	0 → 646.0K +$6.6M
3 BCAR D. Boral ARC Acquisition I Corp. Class A Ordinary Shares BCAR	New	0 → 600.0K +$6.0M
4 Soulpower Acquisition Corporation SOUL	New	0 → 582.5K +$5.9M
5 CCII Cohen Circle Acquisition Corp. II Class A Ordinary Shares CCII	New	0 → 500.0K +$5.1M

Decreased Positions

Position	Shares Δ	Change
1 Armada Acquisition Corp. AACI	Sold	400.0K → 0 −$4.0M
2 EQV EQV Ventures Acquisition Corp EQV	Sold	190.7K → 0 −$2.0M
3 HCM II Acquisition Corp. HOND	Sold	54.8K → 0 −$608.3K
4 BLUWU Blue Water Acquisition Corp. BLUWU	Sold	50.0K → 0 −$500.5K
5 DECAW Denali Capital Acquisition Corp. DECAW	Sold	605.0K → 0 −$42.4K