EXCELFIN ACQUISITION CORP
*W EXP 10/25/202 · CUSIP 30069X110
47
institutional holders
-2 vs Q4 2023
7.3m
shares reported held*
$923.6kreported value*
0 new
3 added
4 reduced
2 sold out
net sold ≈ $2.9k (-26.3k shares)
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $0.13. Options: 4 managers hold calls ($2.0m notional), 0 hold puts (—).
Trends to Q1 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 42 |
| Q4 2022 | 44 |
| Q1 2023 | 52 |
| Q2 2023 | 52 |
| Q3 2023 | 51 |
| Q4 2023 | 49 |
| Q1 2024 | 47 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Bought or addedCut or sold out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 11 | 7 |
| Q1 2023 | 18 | 8 |
| Q2 2023 | 12 | 12 |
| Q3 2023 | 8 | 9 |
| Q4 2023 | 7 | 13 |
| Q1 2024 | 3 | 6 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
CallsPuts
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2023 | $4.4m | $45.0k | 0.01 |
| Q3 2023 | $1.9m | $0 | 0.00 |
| Q4 2023 | $1.9m | $0 | 0.00 |
| Q1 2024 | $2.0m | $0 | 0.00 |
Biggest buyers
| StoneX Group Inc. | Added | +69.5k |
| COWEN AND COMPANY, LLC | Added | +59.1k |
| Flow State Investments, L.P. | Added | +10.2k |
Biggest sellers
| Sage Rock Capital Management LP | Sold out | -69.6k |
| Diametric Capital, LP | Reduced | -49.1k |
| Spartan Fund Management Inc. | Sold out | -32.5k |
| HIGHBRIDGE CAPITAL MANAGEMENT LLC | Reduced | -26.9k |
| FLOW TRADERS U.S. LLC | Reduced | -8.8k |
| CLEAR STREET LLC | Reduced | -5.0k |
Biggest calls
| MARSHALL WACE, LLP | Unchanged | $1.4m126.3k shares |
| ANGELO GORDON & CO., L.P. | Unchanged | $546.5k50.0k shares |
| MILLENNIUM MANAGEMENT LLC | Unchanged | $14.5k269.2k shares |
| Sandia Investment Management LP | Reduced | $12.7k234.9k shares |
Biggest puts
| None |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Holders, Q1 2024
| Manager | Shares | Change |
|---|---|---|
| Sculptor Capital LP 0.00% of their portfolio | 767.3k $32.6k | Unchanged |
| Shaolin Capital Management LLC 0.00% of their portfolio | 692.8k $37.4k | Unchanged |
| Dryden Capital, LLC 0.05% of their portfolio | 638.3k $34.5k | Unchanged |
| Calamos Advisors LLC 0.00% of their portfolio | 500.0k $27.0k | Unchanged |
| Periscope Capital Inc. 0.01% of their portfolio | 468.3k $25.3k | Unchanged |
| Kepos Capital LP 0.01% of their portfolio | 416.5k $22.0k | Unchanged |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.00% of their portfolio | 375.0k $20.2k | Unchanged |
| Linden Advisors LP 0.00% of their portfolio | 250.0k $10.6k | Unchanged |
| Davidson Kempner Capital Management LP 0.00% of their portfolio | 250.0k $7.8k | Unchanged |
| ARISTEIA CAPITAL, L.L.C. 0.00% of their portfolio | 229.4k $9.8k | Unchanged |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 220.0k $11.9k | Unchanged |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 200.0k $10.8k | Unchanged |
| Exos Asset Management LLC 0.01% of their portfolio | 176.2k $9.5k | First filing |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 150.0k $8.1k | Unchanged |
| TENOR CAPITAL MANAGEMENT Co., L.P. 0.00% of their portfolio | 150.0k $8.1k | Unchanged |
| AQR Arbitrage LLC 0.00% of their portfolio | 147.1k $7.9k | Unchanged |
| Walleye Capital LLC 0.00% of their portfolio | 139.4k $7.5k | Unchanged |
| Saba Capital Management, L.P. 0.00% of their portfolio | 132.0k $5.6k | Unchanged |
| MIZUHO SECURITIES USA LLC 0.00% of their portfolio | 118.9k $1.2k | Unchanged |
| Diametric Capital, LP 0.00% of their portfolio | 108.1k $5.8k | Reduced -49.1k |
| CANTOR FITZGERALD, L. P. 0.00% of their portfolio | 100.0k $5.0k | Unchanged |
| Polar Asset Management Partners Inc. 0.00% of their portfolio | 100.0k $5.4k | Unchanged |
| Atalaya Capital Management LP 0.01% of their portfolio | 100.0k $5.0k | Unchanged |
| PICTON MAHONEY ASSET MANAGEMENT 0.00% of their portfolio | 96.8k $5.0k | Unchanged |
| StoneX Group Inc. 0.00% of their portfolio | 96.3k $5.2k | Added +69.5k |
| EHP Funds Inc. 0.00% of their portfolio | 92.6k $5.0k | Unchanged |
| COWEN AND COMPANY, LLC 0.00% of their portfolio | 85.0k $4.6k | Added +59.1k |
| Q Global Advisors, LLC 0.00% of their portfolio | 73.0k $4.0k | Unchanged |
| WOLVERINE ASSET MANAGEMENT LLC 0.00% of their portfolio | 71.4k $3.9k | Unchanged |
| Schonfeld Strategic Advisors LLC 0.00% of their portfolio | 60.0k $3.2k | Unchanged |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 50.1k $2.7k | Unchanged |
| DUPONT CAPITAL MANAGEMENT CORP 0.00% of their portfolio | 50.0k $2.7k | Unchanged |
| Segantii Capital Management Ltd 0.05% of their portfolio | 50.0k $546.5k | Unchanged |
| Silver Rock Financial LP 0.01% of their portfolio | 48.9k $2.6k | Unchanged |
| UBS Group AG 0.00% of their portfolio | 48.2k $2.6k | Unchanged |
| HIGHBRIDGE CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 48.1k $2.6k | Reduced -26.9k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 40.3k $2.2k | Unchanged |
| SkyView Investment Advisors, LLC 0.00% of their portfolio | 36.8k $2.0k | Unchanged |
| Cruiser Capital Advisors, LLC 0.00% of their portfolio | 27.5k $1.5k | Unchanged |
| CLEAR STREET LLC 0.00% of their portfolio | 27.2k $1.5k | Reduced -5.0k |
| Walleye Trading LLC 0.00% of their portfolio | 25.4k $1.4k | Unchanged |
| WHITEBOX ADVISORS LLC 0.00% of their portfolio | 25.0k $1.4k | Unchanged |
| RIVERNORTH CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 25.0k $1.2k | Unchanged |
| Flow State Investments, L.P. 0.00% of their portfolio | 22.7k $1.2k | Added +10.2k |
| FLOW TRADERS U.S. LLC 0.00% of their portfolio | 21.4k $1.0k | Reduced -8.8k |
| Ancora Advisors LLC 0.00% of their portfolio | 10.0k $540 | Unchanged |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio | 0 $0 | Unchanged |