10 Best SPACs to Buy According to Herb Wagner’s FinePoint Capital

Published September 10, 2021 at 12:23 pm EDT Updated August 19, 2026 at 5:19 am EDT

In this article, we discuss the 10 best SPACs to buy according to Herb Wagner’s FinePoint Capital based on Q2 holdings of the fund.

Special purpose acquisition companies, or SPACs, collect money from investors via a public offering and then utilize the proceeds to find a private business to take public.

Over the past few months, hedge funds are taking a special interest in SPACs. Bloomberg reports that among the notable hedge funds betting on SPACs include Polar Asset Management Partners Inc., Davidson Kempner Capital Management, and CNH Partners. In addition, Millennium Management, Magnetar Capital, FinePoint Capital, and Glazer Capital have lately invested in SPACs. SPACs in North America alone raised $70 billion in 2020, most of it coming from the hedge fund industry.

In this article our focus would be on top SPAC picks of Herb Wagner’s FinePoint Capital, a Boston-based hedge fund, which was established in the year 2013. The hedge fund gives portfolio management and investment advisory services. In the second quarter of 2021, the total value of FinePoint Capital’s 13F portfolio is $533.39 million.

Before we dig deeper into FinePoint’s SPAC picks, let’s take a look at some of the most notable SPAC stocks that have the attention of investors. These include Virgin Galactic Holdings, Inc. (NYSE: SPCE), DraftKings Inc. (NASDAQ: DKNG) and Nikola Corporation (NASDAQ: NKLA).

Virgin Galactic Holdings, Inc. is an integrated aerospace business based in the United States, developing human spaceflight for private people and researchers. The company was founded in 2017. On August 31, Jefferies analyst Greg Konrad initiated coverage of Virgin Galactic Holdings, Inc. with a “Buy” rating and gave the price target of $33. Shares of Virgin Galactic Holdings, Inc. surged 52.29% in the past 12 months

DraftKings Inc. was founded in 2011, and it functions as a digital sports entertainment and gaming company in the United States. On August 9, Northland analyst Greg Gibas raised the price target on DraftKings Inc. to $75 from $70 and kept an “Outperform” rating on the shares.

Nikola Corporation is a US-based company that develops and integrates energy and transportation solutions. On September 2, Nikola Corporation and Bosch Group struck a series of agreements allowing the former to manufacture Bosch fuel-cell power modules at its Coolidge, Arizona facility. On August 10, DA Davidson analyst Michael Shlisky initiated coverage of Nikola Corporation with a “Neutral” rating and gave the price target of $10. Nikola Corporation currently has a $4.17 billion market capitalization.

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With this context in mind, here is our list of the 10 best SPACs to buy according to Herb Wagner’s FinePoint Capital. These were ranked according to the investment portfolio of FinePoint Capital at the end of the second quarter of 2021.

Best SPACs to Buy According to Herb Wagner’s FinePoint Capital

10. Senior Connect Acquisition Corp. I (NASDAQ: SNRH)

Wagner’s Stake Value: $18,418,000
Percentage of Herb Wagner’s 13F Portfolio: 3.45%

Senior Connect Acquisition Corp. I (NASDAQ: SNRH) combines one or more firms by a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other similar business combination. The company was previously known as Health Connect Acquisitions Corp. I. It was incorporated in 2020 and stands tenth on the list of 10 best SPACs to buy according to Herb Wagner’s FinePoint Capital.

Senior Connect Acquisition Corp. I went public in December 2020, raising more than $414 million from the initial offering. On August 16, Senior Connect Acquisition Corp. I posted earnings for the second quarter of 2021. It declared earnings per share of -$0.31, while the earnings per share for the first six months of 2021 was -$0.23.

FinePoint Capital holds 1.89 million shares in Senior Connect Acquisition Corp. I, worth over $18.42 million. This represents 3.45% of their portfolio. Ricky Sandler’s Eminence Capital is a leading shareholder in Senior Connect Acquisition Corp. I with 3.34 million shares, worth more than $32.55 million.

As companies likes Virgin Galactic Holdings, Inc., DraftKings Inc., and Nikola Corporation become public through SPACs, retail investors and hedge funds are loading up on SPAC stocks.

9. FirstMark Horizon Acquisition Corp. (NYSE: FMAC)

Wagner’s Stake Value: $18,438,000
Percentage of Herb Wagner’s 13F Portfolio: 3.45%

FirstMark Horizon Acquisition Corp. (NYSE: FMAC) identifies companies that will generate profit after getting public. It focuses on bringing one or more firms together through merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar corporate combinations. The company was incorporated in 2020 and ranks ninth on the list of 10 best SPACs to buy according to Herb Wagner’s FinePoint Capital. FirstMark Horizon Acquisition Corp. has a market capitalization of $506.12 million.

In the past 52 weeks, FirstMark Horizon Acquisition Corp. moved within the range of $9.69 – $14.44. FirstMark Horizon Acquisition Corp. went public in October 2020, raising $360 million from the initial offering. On August 13, FirstMark Horizon Acquisition Corp. posted earnings for the second quarter of 2021. It declared earnings per share of $0.02 and the earnings per share of $1.13 for the first six months of 2021.

Herb Wagner’s FinePoint Capital currently owns 1.86 million shares of FirstMark Horizon Acquisition Corp., worth $18.44 million. The company occupies 3.45% of FinePoint Capital’s overall equity. Hedge fund sentiment increased for FirstMark Horizon Acquisition Corp. in the second quarter. Insider Monkey’s data shows that 39 elite hedge funds held stakes in the company in the second quarter of 2021, up from 34 funds a quarter earlier.

As companies likes Virgin Galactic Holdings, Inc., DraftKings Inc., and Nikola Corporation become public through SPACs, retail investors and hedge funds are loading up on SPAC stocks.

8. Churchill Capital Corp VII (NYSE: CVII)

Wagner’s Stake Value: $18,455,000
Percentage of Herb Wagner’s 13F Portfolio: 3.45%

Churchill Capital Corp VII (NYSE: CVII) is a special purpose acquisition company in New York. The company was founded in 2020, and it stands eighth on the list of 10 best SPACs to buy according to Herb Wagner’s FinePoint Capital. Churchill Capital Corp VII presently has a market capitalization of $1.68 billion.

Churchill Capital Corp VII went public in February 2021 and managed to raise more than $1.2 billion from the offering. On August 16, Churchill Capital Corp VII announced earnings for the second quarter of 2021. It posted a net loss per share of $0.17, and a net loss of $0.23 for the first six months of 2021.

The hedge fund chaired by Herb Wagner holds 1.90 million shares in Churchill Capital Corp VII, worth over $18.46 million. Magnetar Capital is the most significant stakeholder in Churchill Capital Corp VII, with 11.06 million shares worth $110.72 million.

As companies likes Virgin Galactic Holdings, Inc., DraftKings Inc., and Nikola Corporation become public through SPACs, retail investors and hedge funds are loading up on SPAC stocks.

7. Cohn Robbins Holdings Corp. (NYSE: CRHC)

Wagner’s Stake Value: $18,475,000
Percentage of Herb Wagner’s 13F Portfolio: 3.46%

Cohn Robbins Holdings Corp. (NYSE: CRHC) is a Wilmington, Delaware-based special purpose acquisition firm. The company was previously known as CSR Acquisition Corp. It was incorporated in 2020 and is placed seventh on the list of 10 best SPACs to buy according to Herb Wagner’s FinePoint Capital. Cohn Robbins Holdings Corp. currently has a market capitalization of $1.01 billion.

Cohn Robbins Holdings Corp. went public in September 2020 and raised more than $720 million from the offering. On August 16, Cohn Robbins Holdings Corp. posted earnings for the second quarter of 2021. It reported earnings per share of $0.15 for the second quarter and an EPS of $1.19 for the first six months of 2021.

Herb Wagner’s FinePoint Capital owns 1.88 million shares of Cohn Robbins Holdings Corp., worth $18.48 million. In addition, hedge funds are loading up on Cohn Robbins Holdings Corp., as Insider Monkey’s data shows that 53 hedge funds held a stake in the company in the second quarter of 2021, compared to 50 funds in the previous quarter.

Just like Virgin Galactic Holdings, Inc., DraftKings Inc., and Nikola Corporation, Cohn Robbins Holdings Corp. is a notable SPAC stock.

6. Apollo Strategic Growth Capital II (NYSE: APGB)

Wagner’s Stake Value: $18,493,000
Percentage of Herb Wagner’s 13F Portfolio: 3.46%

Apollo Strategic Growth Capital II (NYSE: APGB) is a New York-based special purpose acquisition firm. It is ranked sixth on the list of 10 best SPACs to buy according to Herb Wagner’s FinePoint Capital. The firm was previously known as APH I (Sub I), Ltd., but in December 2020, it changed its name to Apollo Strategic Growth Capital II. The company has a market capitalization of $836.62 million.

On August 12, Apollo Strategic Growth Capital II declared earnings for the second quarter of 2021. It reported earnings per share of $0.07, and earnings of $0.39 for the first six months of 2021. On February 9, Apollo Strategic Growth Capital II launched an initial public offering (IPO) of 50 million shares for $10 per unit, with underwriters having the option to purchase an additional 7.5 million units.

Herb Wagner’s FinePoint Capital currently holds 1.89 million shares of Apollo Strategic Growth Capital II that amounts to $18.49 million. The company occupies 3.46% of FinePoint Capital’s total portfolio.

Just like Virgin Galactic Holdings, Inc., DraftKings Inc., and Nikola Corporation, Apollo Strategic Growth Capital II is a notable SPAC stock.

5. Dragoneer Growth Opportunities Corp. III (NASDAQ: DGNU)

Wagner’s Stake Value: $18,494,000
Percentage of Herb Wagner’s 13F Portfolio: 3.46%

Dragoneer Growth Opportunities Corp. III (NASDAQ: DGNU) is a special purpose acquisition company based in San Francisco, California. It was incorporated in 2020 and stands fifth on the list of 10 best SPACs to buy according to Herb Wagner’s FinePoint Capital.

Dragoneer Growth Opportunities Corp. III went public in March 2021 and raised more than $400 million from the offering. On August 18, Dragoneer Growth Opportunities Corp. III posted earnings for the second quarter of 2021. It reported a net loss per share of $0.38 and a net loss per share of $1.01 for the first six months of 2021.

The hedge fund chaired by Herb Wagner owns more than 1.85 million shares in Dragoneer Growth Opportunities Corp. III, worth over $18.49 million, representing 3.46% of their investment portfolio. Maverick Capital is the most significant stakeholder in Dragoneer Growth Opportunities Corp. III out of the 873 hedge funds tracked by Insider Monkey in the second quarter of 2021. The hedge fund owns 3 million shares of the company worth $30 million.

4. Fortress Value Acquisition Corp. IV (NYSE: FVIV)

Wagner’s Stake Value: $18,531,000
Percentage of Herb Wagner’s 13F Portfolio: 3.47%

Fortress Value Acquisition Corp. IV (NYSE: FVIV) collaborates with one or more companies to accomplish a merger, capital stock exchange, asset purchase, stock purchase, reorganization, or related business combination. The company was incorporated in 2020 and is ranked fourth on the list of 10 best SPACs to buy according to Herb Wagner’s FinePoint Capital. Fortress Value Acquisition Corp. IV presently has a $19.1 billion market capitalization. The CEO of the company is Joshua A.

On August 9, Fortress Capital Acquisition Corp. (NYSE: FCAX) reported earnings for the second quarter of 2021. It reported earnings per share of $0.39, and earnings per share of $0.40 for the first six months of 2021.

FinePoint Capital holds 1.85 million shares in Fortress Capital Acquisition Corp., worth over $18.53 million. This represents 3.47% of their portfolio. Alec Litowitz And Ross Laser’s Magnetar Capital is a leading shareholder in Fortress Capital Acquisition Corp., with 4.01 million shares worth more than $40.14 million.

3. Fortress Capital Acquisition Corp. (NYSE: FCAX)

Wagner’s Stake Value: $18,569,000
Percentage of Herb Wagner’s 13F Portfolio: 3.48%

Fortress Capital Acquisition Corp. is a blank check corporation formed to accomplish a merger, stock exchange, asset acquisition, stock purchase, reorganization, or similar business combinations with one or more firms. It was founded in 2020 and is placed third on the list of 10 best SPACs to buy according to Herb Wagner’s FinePoint Capital. Fortress Capital Acquisition Corp. presently has a market capitalization of $485 million.

Fortress Capital Acquisition Corp. raised $350 million from IPO-related proceeds in January 2021. The Chief Executive Officer and Chairman of the firm is Michael Nierenberg. On August 9, Fortress Capital Acquisition Corp. declared earnings for the second quarter of 2021. It posted earnings per share of $0.10, and earnings per share of $0.27 for the first six months of 2021.

The hedge fund chaired by Herb Wagner holds 1.89 million shares in Fortress Capital Acquisition Corp. worth over $18.57 million. Empyrean Capital Partners is the biggest stakeholder in Fortress Capital Acquisition Corp., with 3.11 million shares worth $31.16 million.

2. Revolution Healthcare Acquisition Corp. (NASDAQ: REVH)

Wagner’s Stake Value: $18,587,000
Percentage of Herb Wagner’s 13F Portfolio: 3.48%

Revolution Healthcare Acquisition Corp. (NASDAQ: REVH) is looking for acquisition possibilities in the healthcare, life sciences, and technology industries. The company was incorporated in 2021 and is ranked second on the list of 10 best SPACs to buy according to Herb Wagner’s FinePoint Capital. Revolution Healthcare Acquisition Corp. has a market capitalization of 559.598 million. The 52-week price range of the stock is between $9.50 – $10.70.

Revolution Healthcare Acquisition Corp. went public in March 2021, managing to raise close to $500 million from the initial offering. On August 9, Revolution Healthcare Acquisition Corp. announced earnings for the second quarter of 2021. It reported earnings per share of $7.00, compared to the earnings per share of $2.59 for the first six months of 2021.

Revolution Healthcare Acquisition Corp. is the latest addition in Herb Wagner’s hedge fund portfolio, as FinePoint Capital bought 1.84 million shares of the company, worth $18.59 million.

1. Reinvent Technology Partners Y (NASDAQ: RTPY)

Wagner’s Stake Value: $19,417,000
Percentage of Herb Wagner’s 13F Portfolio: 3.64%

Reinvent Technology Partners Y (NASDAQ: RTPY) enters into a capital stock exchange, stock purchase, reorganization, asset acquisition, or related business combination with one or more businesses or entities. The company was founded in 2020 and is placed first on the list of 10 best SPACs to buy according to Herb Wagner’s FinePoint Capital. Reinvent Technology Partners Y currently has a market capitalization of $1.21 billion.

It was one of the first corporate software firms to use a subscription-based business model when it went public in 2000. On July 15, Aurora, a self-driving technology firm, agreed to combine with Reinvent Technology Partners Y in a SPAC agreement.

The stock is a new arrival on Herb Wagner’s portfolio, as his hedge fund bought about 1.92 million shares of Reinvent Technology Partners Y, worth $19.42 million. In addition, Seth Klarman’s Baupost Group is a leading shareholder in Reinvent Technology Partners Y, with 6 million shares worth more than $59.34 million.

You can also take a peek at 10 Best SPACs to Buy According to David Einhorn’s Greenlight Capital and 10 Best SPACs to Invest In According to Reddit