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No. of Recommendations: 3
If you know nothing about SPAC Arbitrage, you can find plenty about it with a search.

My view is that it's a fancy term for another way Wall Street can relieve you of your
life savings. Thus, I highly recommend you ignore this post AND stay away from SPACs.

Although I no longer actively invest, I do fool around. The term I use in a domestic
setting is "experiment".

In this particular...experiment...I'm using funds I can afford to lose. If I take 100%
permanent loss, it won't affect our retirement or other financial goals one bit. In that
way, it *is* carefree.

But researching the sponsors required a bunch of work, so that part is most certainly
NOT carefree. Also, working with your broker to do the splits is not fun, most
assuredly NOT carefree. I've converted all the units except for CPARU which is not yet eligible.

And of course I made some huge mistakes in the beginning by not exercising good buying discipline.
The port will suffer for it. I did manage to get better at it as the month of March progressed.

Here's where things stand as of 5/28/2021...

(Share counts and $ amounts below are representative of the real portfolio)


** SPAC PORTFOLIO **

Buy Date Symbol Name Sponsor Target IPO Date Split Date Status Capital Warrants
--------- ------- ------------------ ------------------ ---------- --------- ---------- ----------------- ------- --------
3/15/2021 JWSMU Jaws Mustang Barry Sternlicht Open 2/2/2021 3/26/2021 Split - Searching 900M 1/4
3/8/2021 SPGSU Simon David Simon Open 2/19/2021 4/12/2021 Split - Searching 300M 1/5
3/9/2021 TSPQU TCW Joseph Shaposhnik Multi 3/2/2021 4/23/2021 Split - Searching 450M 1/3
3/9/2021 RXRAU RXR Scott Rechler Proptech 3/4/2021 4/25/2021 Split - Searching 300M 1/5
3/9/2021 WPCAU Warburg Pincus Christopher Turner Open 3/5/2021 4/26/2021 Split - Searching 250M 1/5
3/17/2021 KAHCU KKR Glen Murphy Consumer 3/17/2021 5/8/2021 Split - Searching 1,000M 1/4
3/18/2021 AAQCU Accelerate Robert Nardelli Multi 3/18/2021 5/9/2021 Split - Searching 400M 1/3
3/23/2021 GGPIU Gores Guggenheim Alec Gores Consumer 3/23/2021 5/14/2021 Split - Searching 750M 1/5
3/25/2021 MSDAU MSD Michael Dell Open/Tech 3/25/2021 5/16/2021 Split - Searching 500M 1/5
5/19/2021 CPARU Catalyst Partners Ken Chenault Software 5/17/2021 7/8/2021 Units - Searching 300M 1/5


** COST **

Ticker Name Shares Cost Amount Weight
------ ------------------ ------ ----- ------ -------
JWSMU Jaws Mustang 30 10.33 310 15.2%
SPGSU Simon Property 30 10.20 306 15.0%
TSPQU TCW 30 10.09 303 14.9%
RXRAU RXR 10 10.12 101 5.0%
WPCAU Warburg Pincus 10 10.09 101 5.0%
KAHCU KKR 30 10.03 301 14.8%
AAQCU Accelerate 12 9.90 119 5.8%
GGPIU Gores Guggenheim 10 9.98 100 4.9%
MSDAU MSD 20 9.96 199 9.8%
CPARU Catalyst Partners 20 9.93 199 9.7%
-----
Total Cost 2,038

** CURRENT VALUE as of 5/28/2021 **

Ticker Security Shares Price Amount
------ ------------- ------ ----- ------
JWSM JWSM Shares 30 9.77 293
JWSMWS JWSM Warrants 7.5 1.12 8
SPGS SPGS Shares 30 9.80 294
SPGSWS SPGS Warrants 6 1.26 8
TSPQ TSPQ Shares 30 9.75 292
TSPQWS TSPQ Warrants 10 0.74 7
RXRA RXRA Shares 10 9.70 97
RXRAW RXRA Warrants 2 0.70 1
WPCA WPCA Shares 10 9.82 98
WPCAWS WPCA Warrants 2 1.10 2
KAHC KAHC Shares 30 9.74 292
KAHCWS KAHC Warrants 7.5 1.07 8
AAQC AAQC Shares 12 9.65 116
AAQCWS AAQC Warrants 4 0.93 4
GGPI GGPI Shares 10 9.70 97
GGPIW GGPI Warrants 2 1.10 2
MSDA MSDA Shares 20 10.00 200
MSDAW MSDA Warrants 4 1.20 5
CPARU CPARU Units 20 10.12 202
-----
Current Value 2,028

Down -0.5%
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