HEARTLAND MEDIA ACQUISITION
*W EXP 99/99/999 · CUSIP 42237V116
41
institutional holders
+3 vs Q1 2023
7.3m
shares reported held*
$1.2mreported value*
8 new
1 added
6 reduced
5 sold out
net sold ≈ $8.0k (-591.9k 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 ≈ $0.16. Options: 2 managers hold calls ($191.7k notional), 1 hold puts ($9.0k).
Trends to Q2 2023
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 37 |
| Q4 2022 | 40 |
| Q1 2023 | 38 |
| Q2 2023 | 41 |
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 | 8 |
| Q1 2023 | 6 | 6 |
| Q2 2023 | 9 | 11 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
CallsPuts
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2022 | $204.0k | $0 | 0.00 |
| Q4 2022 | $190.9k | $0 | 0.00 |
| Q1 2023 | $210.5k | $0 | 0.00 |
| Q2 2023 | $191.7k | $9.0k | 0.05 |
Biggest buyers
| Apollo Management Holdings, L.P. | New | +372.5k |
| GAMCO INVESTORS, INC. ET AL | New | +176.8k |
| RIVERNORTH CAPITAL MANAGEMENT, LLC | New | +100.0k |
| Sandia Investment Management LP | New | +50.1k |
| CITADEL ADVISORS LLC | New | +38.3k |
| CLEAR STREET LLC | New | +1.2k |
| UBS Group AG | New | +378 |
| COWEN AND COMPANY, LLC | Added | +136 |
| ROYAL BANK OF CANADA | New | +100 |
Biggest sellers
| Shaolin Capital Management LLC | Sold out | -500.0k |
| Hudson Bay Capital Management LP | Reduced | -256.2k |
| Balyasny Asset Management L.P. | Reduced | -180.9k |
| PICTON MAHONEY ASSET MANAGEMENT | Sold out | -125.0k |
| DIFESA CAPITAL MANAGEMENT, LP | Sold out | -100.0k |
| K2 PRINCIPAL FUND, L.P. | Sold out | -77.4k |
| HGC Investment Management Inc. | Reduced | -55.0k |
| GABELLI FUNDS LLC | Sold out | -20.0k |
| CVI Holdings, LLC | Reduced | -11.2k |
| AQR Arbitrage LLC | Reduced | -4.1k |
Biggest calls
| DeepCurrents Investment Group LLC | Unchanged | $188.5k17.9k shares |
| MILLENNIUM MANAGEMENT LLC | Unchanged | $3.2k230.6k shares |
Biggest puts
| Shaolin Capital Management LLC | New | $9.0k650.0k shares |
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, Q2 2023
| Manager | Shares | Change |
|---|---|---|
| Periscope Capital Inc. 0.00% of their portfolio | 801.0k $11.0k | Unchanged |
| Linden Advisors LP 0.00% of their portfolio | 727.2k $9.3k | Unchanged |
| AQR Arbitrage LLC 0.00% of their portfolio | 679.1k $9.3k | Reduced -4.1k |
| Sculptor Capital LP 0.00% of their portfolio | 595.2k $7.6k | Reduced -1.6k |
| Calamos Advisors LLC 0.00% of their portfolio | 500.0k $6.8k | Unchanged |
| Apollo Management Holdings, L.P. 0.00% of their portfolio | 372.5k $5.1k | New |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 300.0k $4.1k | Unchanged |
| Context Capital Management, LLC 0.00% of their portfolio | 274.4k $4.0k | Unchanged |
| Hudson Bay Capital Management LP 0.00% of their portfolio | 256.2k $3.5k | Reduced -256.2k |
| Polar Asset Management Partners Inc. 0.00% of their portfolio | 245.5k $3.4k | Unchanged |
| ARISTEIA CAPITAL, L.L.C. 0.00% of their portfolio | 226.0k $2.9k | Unchanged |
| COWEN AND COMPANY, LLC 0.00% of their portfolio | 225.2k $3.1k | Added +136 |
| Radcliffe Capital Management, L.P. 0.00% of their portfolio | 213.4k $2.7k | Unchanged |
| Castle Creek Arbitrage, LLC 0.00% of their portfolio | 182.0k $2.3k | Unchanged |
| GAMCO INVESTORS, INC. ET AL 0.00% of their portfolio | 176.8k $2.4k | New |
| STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio | 165.0k $2.3k | Unchanged |
| LMR Partners LLP 0.00% of their portfolio | 150.0k $2.1k | Unchanged |
| Atalaya Capital Management LP 0.00% of their portfolio | 150.0k $1.5k | Unchanged |
| KIM, LLC 0.00% of their portfolio | 150.0k $2.1k | Unchanged |
| GABELLI & Co INVESTMENT ADVISERS, INC. 0.00% of their portfolio | 130.0k $1.8k | Unchanged |
| Eisler Capital (UK) Ltd. 0.11% of their portfolio | 100.1k $1.1m | Unchanged |
| RIVERNORTH CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 100.0k $1.4k | New |
| TENOR CAPITAL MANAGEMENT Co., L.P. 0.00% of their portfolio | 75.0k $1.0k | Unchanged |
| HGC Investment Management Inc. 0.00% of their portfolio | 55.0k $1.0k | Reduced -55.0k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 51.4k $704 | Unchanged |
| Diametric Capital, LP 0.00% of their portfolio | 50.1k $686 | Unchanged |
| Sandia Investment Management LP 0.00% of their portfolio | 50.1k $686 | New |
| WHITEBOX ADVISORS LLC 0.00% of their portfolio | 50.0k $685 | Unchanged |
| Athos Capital Ltd 0.62% of their portfolio | 50.0k $527 | Unchanged |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 38.3k $525 | New |
| Weiss Asset Management LP 0.00% of their portfolio | 37.5k $513 | Unchanged |
| Cubist Systematic Strategies, LLC 0.00% of their portfolio | 36.3k $497 | Unchanged |
| OMERS ADMINISTRATION Corp 0.00% of their portfolio | 25.0k $342 | Unchanged |
| Saba Capital Management, L.P. 0.00% of their portfolio | 25.0k $342 | Unchanged |
| WOLVERINE ASSET MANAGEMENT LLC 0.00% of their portfolio | 24.5k $335 | Unchanged |
| Balyasny Asset Management L.P. 0.00% of their portfolio | 19.1k $261 | Reduced -180.9k |
| CVI Holdings, LLC 0.00% of their portfolio | 13.8k $189 | Reduced -11.2k |
| CLEAR STREET LLC 0.00% of their portfolio | 1.2k $16 | New |
| UBS Group AG 0.00% of their portfolio | 378 $5 | New |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 100 $0 | New |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio | 0 $0 | Unchanged |