TENOR CAPITAL MANAGEMENT Co., L.P.

Hedge Fund • Multi-Strategy

TENOR CAPITAL MANAGEMENT Co., L.P. is a Multi-Strategy Hedge Fund based in New York, NY led by Robin Rajendra Shah, reporting $9.1B in AUM as of Q3 2025 with 93% Unknown concentration and minimal technology exposure.

CIORobin Rajendra Shah

Portfolio Value: $806.7M
Positions: 167
Top Holding: CHAC at 2.72%
Last Reported: Q3 2025

Address810 Seventh Ave, Suite 1905, New York, NY, 10019, United States

Top Holdings

Largest long holdings in TENOR CAPITAL MANAGEMENT Co., L.P.'s portfolio (23.3% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 China HGS Real Estate Inc. CHAC	Unknown Unknown	$21.9M	2.72%	—	— 2.2M shares	Q2 2025 Held for 5 months
2 KFII K&F Growth Acquisition Corp. II Class A Ordinary shares KFII	Unknown Unknown	$20.4M	2.53%	+$10.2K Bought	5.10% 2.0M shares	Q2 2025 Held for 5 months
3 Gores Holdings X, Inc. Class A ordinary shares GTEN	Unknown Unknown	$20.4M	2.53%	—	4.44% 2.0M shares	Q2 2025 Held for 5 months
4 TACH Titan Acquisition Corp. Class A Ordinary Shares TACH	Unknown Unknown	$20.2M	2.51%	—	5.80% 2.0M shares	Q2 2025 Held for 5 months
5 TVA Texas Ventures Acquisition III Corp Class A Ordinary Share TVA	Unknown Unknown	$18.7M	2.32%	—	5.83% 1.8M shares	Q2 2025 Held for 5 months
6 Live Oak Acquisition Corp. V Class A Ordinary Shares LOKV	Unknown Unknown	$17.9M	2.21%	—	6.09% 1.8M shares	Q2 2025 Held for 5 months
7 GigCapital, Inc. GIG	Unknown Unknown	$17.8M	2.21%	+$12.5M Bought	5.07% 1.7M shares	Q2 2025 Held for 5 months
8 Soulpower Acquisition Corporation SOUL	Unknown Unknown	$17.7M	2.19%	—	5.15% 1.8M shares	Q2 2025 Held for 5 months
9 SZZL Sizzle Acquisition Corp. SZZL	Unknown Unknown	$17.6M	2.19%	—	5.60% 1.8M shares	Q2 2025 Held for 5 months
10 Archimedes Tech SPAC Partners II Co. Ordinary Shares ATII	Unknown Unknown	$15.3M	1.90%	—	5.07% 1.5M shares	Q2 2025 Held for 5 months

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in TENOR CAPITAL MANAGEMENT Co., L.P.'s latest filing

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Market Value

$806.7M

Prior: $550.5M

Q/Q Change

+46.52%

+$256.1M

Net Flows % of MV

+28.59%

Turnover Ratio

18.77%

New Purchases

46 stocks

$223.6M

Added To

7 stocks

+$37.1M

Sold Out Of

19 stocks

$22.1M

Reduced Holdings

6 stocks

-$8.0M

Increased Positions

Position	Shares Δ	Change
1 EVAC EQV Ventures Acquisition Corp. II EVAC	New	0 → 1.3M +$12.9M
2 CRAQ Cal Redwood Acquisition Corp. Class A Ordinary Shares CRAQ	New	0 → 1.2M +$12.0M
3 BACC Blue Acquisition Corp. Class A Ordinary Shares BACC	New	0 → 1.2M +$12.0M
4 APAD A Paradise Acquisition Corp. Class A Ordinary Shares APAD	New	0 → 1.2M +$11.9M
5 JENA Jena Acquisition Corporation II JENA	New	0 → 1.0M +$10.2M

Decreased Positions

Position	Shares Δ	Change
1 CyberArk Software CYBR	Sold	14.7K → 0 −$6.0M
2 Haymaker Acquisition Corp. HYAC	Sold	500.0K → 0 −$5.6M
3 Cohen Circle Acquisition Corp. CCIR	Sold	497.1K → 0 −$5.5M
4 HCM II Acquisition Corp. HOND	Sold	143.0K → 0 −$1.6M
5 Nabors Energy Transition Corp. II NETD	Sold	100.0K → 0 −$1.1M