Vault-13

IB ACQUISITION CORP IBAC

COM SHS · Common Stock · CUSIP 44934N108

41 institutional holders +6 vs Q4 2024
10,753,85210.8m shares reported held*
68.3% of all shares outstanding*
$110.8mreported value*
7 new 4 added 10 reduced 1 sold out net bought ≈ $3.2m (+313.5k 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 ($4.6m this quarter). Holder counts are more reliable. Shares outstanding: 15.7m as of 2025-05-15, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $10.30.

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

0204060Q2 24: 39Q3 24: 41Q4 24: 35Q1 25: 4141Q2 24Q3 24Q4 24Q1 25
Numbers
QuarterHolders
Q2 202439
Q3 202441
Q4 202435
Q1 202541

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
20020Q3 24: 14 bought or addedQ3 24: 13 cut or sold outQ3 24Q4 24: 7 bought or addedQ4 24: 18 cut or sold outQ4 24Q1 25: 11 bought or addedQ1 25: 11 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q3 20241413
Q4 2024718
Q1 20251111

Biggest buyers

D. E. Shaw & Co., Inc. Added +300,000+300.0k
BERKLEY W R CORP Added +206,237+206.2k
RiverPark Advisors, LLC New +164,448+164.4k
Quarry LP New +100,000+100.0k
WOLVERINE ASSET MANAGEMENT LLC Added +94,209+94.2k
SUSQUEHANNA INTERNATIONAL GROUP, LLP New +17,961+18.0k
MIZUHO SECURITIES USA LLC New +12,242+12.2k
FLOW TRADERS U.S. LLC Added +2,832+2.8k
CLEAR STREET LLC New +559+559
OSAIC HOLDINGS, INC. New +300+300

Biggest sellers

TORONTO DOMINION BANK Reduced -336,286-336.3k
Virtu Financial LLC Reduced -91,346-91.3k
Bulldog Investors, LLP Reduced -36,636-36.6k
Periscope Capital Inc. Reduced -25,000-25.0k
Schechter Investment Advisors, LLC Reduced -21,795-21.8k
ROBINSON CAPITAL MANAGEMENT, LLC Reduced -19,262-19.3k
Tidal Investments LLC Sold out -19,262-19.3k
Wealthspring Capital LLC Reduced -14,659-14.7k
Karpus Management, Inc. Reduced -12,450-12.4k
Crossingbridge Advisors, LLC Reduced -6,937-6.9k

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

No one currently above 5% in the filings since 19 Dec 2024.

Fell to 5% or below in the last year: AQR CAPITAL MANAGEMENT LLC (0.0%, 2026-04-08), BANK OF MONTREAL /CAN/ (0.0%, 2026-02-12), BARCLAYS PLC (0.3%, 2026-02-11)

Insider purchases and sales in Q1 2025

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

None reported in Q1 2025.

Holders, Q1 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Karpus Management, Inc. 0.87% of their portfolio Pittsford, NY 2,618,4572.6m $27.0m $27.0m 0.87% Reduced -12.4k -12,450
2 AQR Arbitrage LLC 0.28% of their portfolio Greenwich, CT 1,128,6461.1m $11.6m $11.6m 0.28% Unchanged
3 WOLVERINE ASSET MANAGEMENT LLC 0.13% of their portfolio CHICAGO, IL 662,496662.5k $6.8m $6.8m 0.13% Added +94.2k +94,209
4 Mint Tower Capital Management B.V. 1.91% of their portfolio AMSTERDAM, P7 500,000500.0k $5.1m $5.1m 1.91% Unchanged
5 D. E. Shaw & Co., Inc. 0.01% of their portfolio New York, NY 450,000450.0k $4.6m $4.6m 0.01% Added +300.0k +300,000
6 MANGROVE PARTNERS IM, LLC 0.51% of their portfolio Greenwich, CT 450,000450.0k $4.6m $4.6m 0.51% Unchanged
7 Crossingbridge Advisors, LLC 2.43% of their portfolio PLEASANTVILLE, NY 448,383448.4k $4.6m $4.6m 2.43% Reduced -6.9k -6,937
8 BERKLEY W R CORP 0.30% of their portfolio Greenwich, CT 404,912404.9k $4.2m $4.2m 0.30% Added +206.2k +206,237
9 TORONTO DOMINION BANK 0.01% of their portfolio TORONTO, ONTARIO, A6 404,764404.8k $4.2m $4.2m 0.01% Reduced -336.3k -336,286
10 COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.02% of their portfolio HARRISBURG, PA 400,000400.0k $4.1m $4.1m 0.02% Unchanged
11 Wealthspring Capital LLC 5.73% of their portfolio WEST HARRISON, NY 361,208361.2k $3.7m $3.7m 5.73% Reduced -14.7k -14,659
12 Westchester Capital Management, LLC 0.21% of their portfolio VALHALLA, NY 349,019349.0k $3.6m $3.6m 0.21% Unchanged
13 Polar Asset Management Partners Inc. 0.10% of their portfolio TORONTO, A6 300,000300.0k $3.1m $3.1m 0.10% Unchanged
14 Schechter Investment Advisors, LLC 0.24% of their portfolio BIRMINGHAM, MI 283,579283.6k $2.9m $2.9m 0.24% Reduced -21.8k -21,795
15 HEIGHTS CAPITAL MANAGEMENT, INC 1.23% of their portfolio SAN FRANCISCO, CA 250,000250.0k $2.6m $2.6m 1.23% Unchanged
16 Centiva Capital, LP 0.15% of their portfolio New York, NY 250,000250.0k $2.6m $2.6m 0.15% Unchanged
17 Periscope Capital Inc. 1.44% of their portfolio Toronto, A6 250,000250.0k $2.6m $2.6m 1.44% Reduced -25.0k -25,000
18 TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio NEW YORK, NY 218,750218.8k $2.3m $2.3m 0.00% Unchanged
19 Yakira Capital Management, Inc. 0.84% of their portfolio Westport, CT 200,000200.0k $2.1m $2.1m 0.84% Unchanged
20 HIGHBRIDGE CAPITAL MANAGEMENT LLC 0.09% of their portfolio NEW YORK, NY 198,267198.3k $2.0m $2.0m 0.09% Reduced -1.7k -1,704
21 RiverPark Advisors, LLC 1.32% of their portfolio NEW YORK, NY 164,448164.4k $1.7m $1.7m 1.32% New
22 Bulldog Investors, LLP 0.43% of their portfolio SADDLE BROOK, NJ 153,230153.2k $1.6m $1.6m 0.43% Reduced -36.6k -36,636
23 RIVERNORTH CAPITAL MANAGEMENT, LLC 0.08% of their portfolio WEST PALM BEACH, FL 142,964143.0k $1.5m $1.5m 0.08% Unchanged
24 DELTEC ASSET MANAGEMENT LLC 0.22% of their portfolio New York, NY 100,000100.0k $1.0m $1.0m 0.22% Unchanged
25 TENOR CAPITAL MANAGEMENT Co., L.P. 0.01% of their portfolio NEW YORK, NY 100,000100.0k $1.0m $1.0m 0.01% Unchanged
26 Quarry LP 0.26% of their portfolio NEW YORK, NY 100,000100.0k $1.0m $1.0m 0.26% New
27 SkyView Investment Advisors, LLC 0.12% of their portfolio SHREWSBURY, NJ 75,00075.0k $774.0k $774.0k 0.12% Unchanged
28 Dakota Wealth Management 0.02% of their portfolio PALM BEACH GARDENS, FL 68,20068.2k $702.5k $702.5k 0.02% Unchanged
29 Wellspring Financial Advisors, LLC 0.04% of their portfolio CLEVELAND, OH 31,10031.1k $320.3k $320.3k 0.04% Unchanged
30 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 27,68527.7k $285.2k $285.2k 0.00% Unchanged
31 CONDOR CAPITAL MANAGEMENT 0.02% of their portfolio MARTINSVILLE, NJ 24,15624.2k $248.8k $248.8k 0.02% Unchanged
32 FLOW TRADERS U.S. LLC 0.01% of their portfolio NEW YORK, NY 18,70118.7k $193.0k $193.0k 0.01% Added +2.8k +2,832
33 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 17,96118.0k $185.0k $185.0k 0.00% New
34 Virtu Financial LLC 0.01% of their portfolio New York, NY 14,17814.2k $146.0k $146.0k 0.01% Reduced -91.3k -91,346
35 ROBINSON CAPITAL MANAGEMENT, LLC 0.05% of their portfolio GROSSE POINTE FARMS, MI 12,25012.2k $126.2k $126.2k 0.05% Reduced -19.3k -19,262
36 MIZUHO SECURITIES USA LLC 0.00% of their portfolio NEW YORK, NY 12,24212.2k $126.1k $126.1k 0.00% New
37 UBS Group AG 0.00% of their portfolio ZURICH, V8 10,40810.4k $107.2k $107.2k 0.00% Unchanged
38 CLEAR STREET LLC 0.00% of their portfolio NEW YORK, NY 559559 $5.8k $5.8k 0.00% New
39 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 300300 $3.1k $3.1k 0.00% New
40 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1616 $165 $165 0.00% New
41 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged