M&A Ripple Fund
The event-driven long sleeve of the Tuatara Hedge Fund. When an acquisition is announced, the fund enters a basket of vector-engine-selected “ripple” names around the deal in real time and holds each basket 5 trading days.
$114.80
+14.80%
44
126
Index price — 30 days (daily closes)
History left of the dashed
live marker is the model index
running paper — live broker execution begins at the marker, and the
badge above measures the live stretch only. The level updates live
over WebSocket during US market hours and settles on daily equity
closes.
| Deal | Size | Entered | Status | Hold | Legs | Basket return |
|---|---|---|---|---|---|---|
| Big Ass Fans (Landmark Ventures / parent) → Ebm-Papst | $5.4B | 2026-08-22 | open | 0/5d | 1 | — |
| Plum IV → CTR | $3.3B | 2026-08-22 | open | 0/5d | 1 | — |
| Merck → Bio-Techne | $11.3B | 2026-08-22 | open | 0/5d | 2 | — |
| Monte dei Paschi di Siena → Banco BPM / Banca Generali | $40.0B | 2026-08-22 | open | 0/5d | 1 | — |
| KKR / Dragoneer / Amwins → Steadfast Group | $4.9B | 2026-08-22 | open | 0/5d | 1 | — |
| Fairfax Financial Holdings → IDBI Bank | $5.0B | 2026-08-21 | open | 1/5d | 2 | +0.00% |
| KKR-Led Consortium → Steadfast Group | $5.5B | 2026-08-21 | open | 1/5d | 1 | +0.00% |
| Amwins → Steadfast | $5.5B | 2026-08-21 | open | 1/5d | 3 | +0.00% |
| Dragoneer Investment Group → Minnesota Timberwolves | $4.5B | 2026-08-21 | open | 1/5d | 1 | +0.00% |
| NVIDIA → Rebellions | $2.3B | 2026-08-21 | open | 1/5d | 3 | +0.00% |
| Stripe → OpenRouter | $7.5B | 2026-08-20 | open | 2/5d | 1 | -2.59% |
| Mitsubishi Electric Corporation → Power Costs, Inc. | $1.4B | 2026-08-20 | open | 2/5d | 1 | +2.23% |
| Mitsubishi Electric → PCI Energy | $1.4B | 2026-08-20 | open | 2/5d | 1 | +0.41% |
| Nuvei → Payoneer Global | $2.8B | 2026-08-19 | open | 3/5d | 2 | +0.73% |
| Stripe → OpenRouter | $8.0B | 2026-08-19 | open | 3/5d | 2 | +0.11% |
| JBS SA → Pilgrim's Pride Corporation | $1.2B | 2026-08-19 | open | 3/5d | 2 | -0.66% |
| JBS → Pilgrim's Pride | $1.2B | 2026-08-19 | open | 3/5d | 2 | +0.80% |
| Brookfield Asset Management → Reliance Worldwide Corporation | $2.5B | 2026-08-19 | open | 3/5d | 2 | -0.54% |
| Cyera → Oasis Security | $1.0B | 2026-08-19 | open | 3/5d | 1 | +24.09% |
| Aegis Logistics → Tristar | $1.5B | 2026-08-18 | open | 4/5d | 1 | +0.00% |
| Deutsche Telekom → Fiberhost and Inea | $1.1B | 2026-08-18 | open | 4/5d | 1 | -0.17% |
| Brookfield Capital Partners LLC → Reliance Worldwide Corporation Limited | $2.9B | 2026-08-18 | open | 4/5d | 2 | -1.71% |
| Brookfield → Reliance Worldwide Corporation | $4.1B | 2026-08-18 | open | 4/5d | 1 | +4.92% |
| Xylem → Pump Suppliers | $1.5B | 2026-08-18 | open | 4/5d | 1 | +16.83% |
| Ankora → H.B. Fuller Construction Adhesives Business | $1.1B | 2026-08-18 | open | 4/5d | 1 | +9.73% |
| Stripe → OpenRouter | $7.0B | 2026-08-18 | open | 4/5d | 1 | +3.44% |
| Deutsche Telekom → Fiberhost / Inea | $1.1B | 2026-08-18 | open | 4/5d | 1 | -0.17% |
| Cisco → Splunk | $28.0B | 2026-08-18 | open | 4/5d | 1 | +0.00% |
| KKR → UGI Corporation | $9.0B | 2026-08-18 | open | 4/5d | 2 | +4.14% |
| EQT Real Estate → Rexford Industrial Realty | $1.2B | 2026-08-18 | open | 4/5d | 2 | +2.09% |
| Diginex → Resulticks | $1.0B | 2026-08-18 | open | 4/5d | 1 | +0.13% |
| KKR → UGI Corp | $9.0B | 2026-08-18 | open | 4/5d | 2 | +7.05% |
| Trustar Capital → Lingxi (Alibaba gaming arm) | $2.0B | 2026-08-18 | open | 4/5d | 1 | -6.87% |
| Microsoft → IREN | $9.7B | 2026-08-17 | open | 5/5d | 2 | +0.00% |
| Apollo Sports Capital → New York Yankees | $2.6B | 2026-08-17 | open | 5/5d | 1 | -20.82% |
| Partners Group → Aroma-Zone | $2.3B | 2026-08-17 | open | 5/5d | 1 | +0.00% |
| Jeff Bezos; Eduardo Saverin → Liverpool FC | $7.1B | 2026-08-17 | open | 5/5d | 2 | +0.01% |
| Madison Air → Ebm-Papst | $5.4B | 2026-08-17 | open | 5/5d | 2 | +0.10% |
| Stripe → OpenRouter | $7.0B | 2026-08-17 | open | 5/5d | 2 | +4.02% |
| Saudi-led consortium → Electronic Arts | $55.0B | 2026-08-17 | open | 5/5d | 2 | -6.56% |
| Anthropic → Decart | $7.0B | 2026-08-17 | open | 5/5d | 2 | +0.09% |
| Esco Technologies → Megger Group | $2.4B | 2026-08-17 | open | 5/5d | 2 | -8.62% |
| L'imad Holding → Abu Dhabi Ports | $8.7B | 2026-08-17 | open | 5/5d | 1 | -5.32% |
| Josh Kushner / Bob Iger consortium → Los Angeles Lakers | $12.5B | 2026-08-17 | open | 5/5d | 1 | +4.39% |
| EQT → Cleanaway Waste Management | $9.4B | 2026-08-14 | closed | 5/5d | 2 | -6.47% |
| Bob Iger → Los Angeles Lakers | $12.5B | 2026-08-14 | closed | 5/5d | 1 | — |
| Charter Communications → Cox Communications | $34.5B | 2026-08-14 | closed | 5/5d | 2 | -0.83% |
| Blackstone → H&R REIT | $6.7B | 2026-08-14 | closed | 5/5d | 1 | +0.15% |
| Stripe and Advent → PayPal | $53.0B | 2026-08-14 | closed | 5/5d | 1 | -0.87% |
| EQT → Cleanaway Waste Management | $9.4B | 2026-08-13 | closed | 5/5d | 2 | -11.07% |
| Anthropic → Decart | $6.5B | 2026-08-13 | closed | 5/5d | 1 | +3.69% |
| Mark Walter / Guggenheim group (Kushner, Iger co-investors) → Los Angeles Lakers | $12.5B | 2026-08-13 | closed | 5/5d | 1 | -5.03% |
| Anthropic → Decart AI | $6.0B | 2026-08-13 | closed | 5/5d | 1 | -2.11% |
| Candle Lake → Evolution | $14.0B | 2026-08-13 | closed | 5/5d | 2 | +21.54% |
| Bob Iger and Josh Kushner → Los Angeles Lakers | $12.5B | 2026-08-13 | closed | 5/5d | 1 | -5.03% |
| Capital One → Discover Financial Services | $35.0B | 2026-08-13 | closed | 5/5d | 1 | +1.01% |
| Bob Iger and Josh Kushner (investor group) → Los Angeles Lakers | $12.5B | 2026-08-13 | closed | 5/5d | 1 | +4.78% |
| Thoma Bravo → Accelerant Holdings | $4.0B | 2026-08-13 | closed | 5/5d | 2 | +2.37% |
| Rocket Lab → Iridium Communications | $7.6B | 2026-08-13 | closed | 5/5d | 2 | -5.45% |
| Silver Lake → Workday | $43.0B | 2026-08-13 | closed | 5/5d | 1 | -14.32% |
| Apollo Global Management → New York Yankees | $2.6B | 2026-08-12 | closed | 5/5d | 1 | -3.59% |
| GO Residential → H&R REIT | $6.7B | 2026-08-12 | closed | 5/5d | 1 | +0.00% |
| Microsoft → Activision Blizzard | $68.7B | 2026-08-12 | closed | 5/5d | 1 | -2.07% |
| GO Residential REIT → H&R Properties | $2.8B | 2026-08-12 | closed | 5/5d | 1 | +57.08% |
| Berkshire Hathaway → Dominion Energy natural gas assets | $10.0B | 2026-08-12 | closed | 5/5d | 1 | +0.37% |
| Goldman Sachs → Neos | $2.3B | 2026-08-12 | closed | 5/5d | 1 | +3.13% |
| Goldman Sachs → NEOS Investments | $2.2B | 2026-08-12 | closed | 5/5d | 1 | -0.13% |
| Goldman Sachs → Neos Investments | $2.2B | 2026-08-12 | closed | 5/5d | 1 | -0.10% |
| Bob Iger and Josh Kushner → Los Angeles Lakers | $12.5B | 2026-08-12 | closed | 5/5d | 1 | -1.83% |
| Josh Kushner and Bob Iger (investor group) → Los Angeles Lakers | $12.5B | 2026-08-12 | closed | 5/5d | 1 | -9.09% |
| Bob Iger and Josh Kushner (investor group) → Los Angeles Lakers | $12.5B | 2026-08-12 | closed | 5/5d | 1 | +10.08% |
| Joshua Kushner and Bob Iger → Los Angeles Lakers | $12.0B | 2026-08-12 | closed | 5/5d | 1 | -1.04% |
| Josh Kushner and Bob Iger → Los Angeles Lakers | $12.5B | 2026-08-12 | closed | 5/5d | 1 | -2.71% |
| Robert Iger and Josh Kushner → Los Angeles Lakers | $12.5B | 2026-08-12 | closed | 5/5d | 1 | -9.09% |
| Bob Iger and Joshua Kushner investor group → Los Angeles Lakers | $12.5B | 2026-08-12 | closed | 5/5d | 1 | +4.96% |
| Bob Iger, Josh Kushner → Los Angeles Lakers | $12.5B | 2026-08-12 | closed | 5/5d | 1 | +0.97% |
| GO Residential → H&R REIT housing portfolio | $4.8B | 2026-08-11 | closed | 5/5d | 1 | +9.15% |
| Salesforce → Fin | $3.6B | 2026-08-11 | closed | 5/5d | 2 | +1.18% |
| Mari (Ari Emanuel) → ATG (Ambassador Theatre Group) | $6.0B | 2026-08-11 | closed | 5/5d | 1 | -0.01% |
| GO REIT-led group → H&R REIT | $6.7B | 2026-08-11 | closed | 5/5d | 1 | -1.50% |
| Sazerac → Brown-Forman Corporation | $15.0B | 2026-08-11 | closed | 5/5d | 2 | -1.40% |
| GO Residential-led group → H&R | $6.7B | 2026-08-11 | closed | 5/5d | 1 | +9.15% |
| Stripe → PayPal | $53.4B | 2026-08-10 | closed | 5/5d | 2 | +1.25% |
| AbbVie → Apogee Therapeutics | $10.9B | 2026-08-10 | closed | 5/5d | 2 | +2.98% |
| Kirin Holdings → Jamieson Wellness | $1.6B | 2026-08-07 | closed | 5/5d | 2 | +0.58% |
| Dream Finders Homes → Beazer Homes USA | $2.2B | 2026-08-07 | closed | 5/5d | 2 | +0.33% |
| Somnigroup → Leggett & Platt | $2.5B | 2026-08-06 | closed | 5/5d | 2 | +1.28% |
| Apollo Global Management → easyJet | $7.3B | 2026-08-06 | closed | 5/5d | 2 | -28.16% |
| Kirin Holdings → Jamieson Wellness | $1.8B | 2026-08-06 | closed | 5/5d | 2 | +0.37% |
| Nielsen → DoubleVerify | $2.1B | 2026-08-06 | closed | 5/5d | 2 | +5.36% |
| Apollo Global Management → EasyJet | $7.7B | 2026-08-06 | closed | 5/5d | 1 | -16.08% |
| Deutsche Telekom → T-Mobile US | $300.0B | 2026-08-05 | closed | 5/5d | 2 | +6.26% |
| MTN Group → IHS Towers | $6.2B | 2026-08-05 | closed | 5/5d | 2 | +2.19% |
| Williams Companies → Momentum Midstream | $5.5B | 2026-08-04 | closed | 5/5d | 2 | -0.69% |
| Vertex Pharmaceuticals → Crinetics Pharmaceuticals | $10.0B | 2026-08-04 | closed | 5/5d | 1 | +0.00% |
| Prologis → Segro | $19.2B | 2026-08-04 | closed | 5/5d | 1 | +5.56% |
| Prologis → SEGRO | $18.8B | 2026-08-04 | closed | 5/5d | 2 | +9.20% |
| Magnolia Oil & Gas → WildFire Energy | $4.0B | 2026-08-04 | closed | 5/5d | 2 | +11.27% |
| Procter & Gamble → Thorne | $3.8B | 2026-08-04 | closed | 5/5d | 2 | +3.58% |
| JPMorgan → Idex | $4.4B | 2026-08-04 | closed | 5/5d | 1 | -0.24% |
| Itochu Corporation → Aviation Capital Group | $1.9B | 2026-08-04 | closed | 5/5d | 2 | +1.01% |
| Banco Santander → Webster Bank | $12.3B | 2026-08-04 | closed | 5/5d | 2 | — |
| Magnolia Oil & Gas → WildFire Energy | $4.1B | 2026-08-03 | closed | 5/5d | 2 | +6.07% |
| NXP Semiconductors → Ambarella | $3.3B | 2026-08-03 | closed | 5/5d | 1 | +5.00% |
| Intercontinental Exchange → MarketAxess | $5.7B | 2026-08-03 | closed | 5/5d | 1 | -0.05% |
| Johnson & Johnson → Sail Biomedicines | $2.6B | 2026-08-03 | closed | 5/5d | 1 | -1.00% |
| Prysmian → Atkore | $3.8B | 2026-08-03 | closed | 5/5d | 1 | +17.33% |
| AstraZeneca → Bristol Myers Squibb | $400.0B | 2026-08-03 | closed | 5/5d | 1 | +3.00% |
| Prysmian S.p.A. → Atkore Inc. | $3.2B | 2026-08-03 | closed | 5/5d | 1 | +17.33% |
| Doosan Group → SK Siltron | $1.7B | 2026-08-03 | closed | 5/5d | 1 | +1.01% |
| KKR → Integer | $5.7B | 2026-08-03 | closed | 5/5d | 2 | +7.33% |
| Curium → Lantheus | $8.0B | 2026-08-03 | closed | 5/5d | 2 | +5.64% |
| Visa Inc. → BioCatch | $2.4B | 2026-08-03 | closed | 5/5d | 2 | -12.95% |
| KKR & Co. Inc. → Integer Holdings Corporation | $4.4B | 2026-08-03 | closed | 5/5d | 2 | +3.38% |
| Blackstone → HSBC Australia Loan Portfolio | $25.0B | 2026-07-31 | closed | 5/5d | 1 | -2.53% |
| Alimentation Couche-Tard → Zabka | $8.7B | 2026-07-31 | closed | 5/5d | 1 | -11.11% |
| Mapfre S.A. → Safety Insurance Group | $1.5B | 2026-07-31 | closed | 5/5d | 1 | +15.77% |
| Alimentation Couche-Tard → Żabka Group | $8.6B | 2026-07-31 | closed | 5/5d | 1 | +19.76% |
| Johnson & Johnson → Sail Biomedicines | $3.5B | 2026-07-31 | closed | 5/5d | 1 | +6.17% |
| Iberdrola → Caruna | $5.7B | 2026-07-31 | closed | 5/5d | 1 | +3.85% |
| Grant Thornton → CBIZ | $5.0B | 2026-07-30 | closed | 5/5d | 2 | +3.73% |
| Intercontinental Exchange → MarketAxess | $6.0B | 2026-07-30 | closed | 5/5d | 1 | +4.97% |
| KKR & Co. and Energy Capital Partners (consortium) → DCC Energy | $7.7B | 2026-07-29 | closed | 5/5d | 2 | +34.35% |
| argenx → Forte Biosciences | $2.2B | 2026-07-28 | closed | 5/5d | 2 | +5.09% |
| Allianz SE → HSBC Life Singapore | $2.1B | 2026-07-28 | closed | 5/5d | 2 | +1.61% |
| SoftVest → Blackbeard | $2.2B | 2026-07-28 | closed | 5/5d | 1 | +0.00% |
Why the basket names are withheld. Each deal's ripple basket is
selected by the fund's proprietary vector engine. Publishing the
constituent names or weights would invite front-running of a strategy
that trades within minutes of the news — so holdings are disclosed at
the deal level only, and the announced deals themselves are already
public information. Basket returns are measured close-to-close over
each hold window.