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| # | Fund | Strategy | Style | Geography | AUM | Latest Letter |
|---|---|---|---|---|---|---|
As of Jun 16, 2025
Cable Car Capital operates as a global opportunistic fund with eight custodians facilitating niche strategies across different regions. The fund has evolved into a more trading-oriented approach due to extreme volatility and price-value dislocations in equity markets characterized by broader retail participation. Key activities include active litigation with ten resolved matters involving contract enforcement and shareholder rights, SPAC-related litigation and structured financings, and biotech investments during the current downcycle. The manager served on the board of Arca Biopharma through its merger with Oruka Therapeutics, establishing a model for similar transactions. Currently, the fund is aggressively positioned in crypto Treasury strategies, capitalizing on public companies trading at premiums to net asset value through both PIPE commitments at discounts and synthetic put positions in MSTR via convertible bonds. The fund expects eventual compression of these premiums as new supply overwhelms demand. Cable Car continues expanding its structured finance capabilities and remains involved in multiple ongoing biotech strategic alternatives processes.
Cable Car Capital employs a global, opportunistic strategy focused on arbitrage situations, activist positions in small-cap biotechnology during downturns, SPAC-related litigation and structured financings, and capitalizing on crypto Treasury strategy dislocations through both long and short positions.
The manager expects eventual compression of crypto Treasury premiums to NAV as new supply overwhelms demand, though timing is unpredictable. They remain involved in several ongoing biotech strategic alternatives processes and continue active litigation strategies.
Moderate Conviction Bullish
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