Vault-13

M3 BRIGADE ACQUISITION III

CL A COM · CUSIP 55407R103

68 institutional holders -5 vs Q1 2023
29,181,34629.2m shares reported held*
$289.3mreported value*
6 new 7 added 16 reduced 11 sold out net sold ≈ $24.8m (-2.4m 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 ($3.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $9.92. Options: 0 managers hold calls (— notional), 1 hold puts ($15.0m).

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0255075Q3 22: 66Q4 22: 73Q1 23: 73Q2 23: 6868Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 202266
Q4 202273
Q1 202373
Q2 202368

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q4 22: 24 bought or addedQ4 22: 20 cut or sold outQ4 22Q1 23: 15 bought or addedQ1 23: 18 cut or sold outQ1 23Q2 23: 13 bought or addedQ2 23: 27 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 20222420
Q1 20231518
Q2 20231327

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$5m$10m$15m$20mQ3 22 calls: $0Q3 22 puts: $0Q3 22P/C —Q4 22 calls: $0Q4 22 puts: $0Q4 22P/C —Q1 23 calls: $0Q1 23 puts: $0Q1 23P/C —Q2 23 calls: $0Q2 23 puts: $15.0mQ2 23P/C —
Numbers
QuarterCallsPutsP/C
Q3 2022$0$0—
Q4 2022$0$0—
Q1 2023$0$0—
Q2 2023$0$15.0m—

Biggest buyers

First Trust Capital Management L.P. Added +794,297+794.3k
Westchester Capital Management, LLC Added +562,248+562.2k
COWEN AND COMPANY, LLC New +376,111+376.1k
Flow State Investments, L.P. New +165,773+165.8k
Crystalline Management Inc. New +140,130+140.1k
Periscope Capital Inc. Added +61,218+61.2k
HRT FINANCIAL LP New +50,809+50.8k
Warberg Asset Management LLC New +17,735+17.7k
Virtu Financial LLC New +15,556+15.6k
SILVERBACK ASSET MANAGEMENT LLC Added +8,333+8.3k

Biggest sellers

HGC Investment Management Inc. Reduced -1,425,000-1.4m
Shaolin Capital Management LLC Sold out -994,907-994.9k
RPO LLC Reduced -300,626-300.6k
Sculptor Capital LP Sold out -300,000-300.0k
Balyasny Asset Management L.P. Sold out -250,000-250.0k
AQR Arbitrage LLC Reduced -200,009-200.0k
Cowen Investment Management LLC Sold out -200,000-200.0k
BOOTHBAY FUND MANAGEMENT, LLC Reduced -176,296-176.3k
DIFESA CAPITAL MANAGEMENT, LP Sold out -150,000-150.0k
KIM, LLC Sold out -150,000-150.0k

Biggest calls

None

Biggest puts

Shaolin Capital Management LLC New $15.0m1.4m 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

#ManagerLocationShares Value% of their portfolioChangeShares change
1 CANTOR FITZGERALD, L. P. 0.17% of their portfolio NEW YORK, NY 2,210,0002.2m $7.5m $7.5m 0.17% Unchanged
2 First Trust Capital Management L.P. 1.29% of their portfolio CHICAGO, IL 2,075,1992.1m $21.7m $21.7m 1.29% Added +794.3k +794,297
3 Periscope Capital Inc. 1.61% of their portfolio Toronto, A6 1,968,6642.0m $20.6m $20.6m 1.61% Added +61.2k +61,218
4 HGC Investment Management Inc. 5.38% of their portfolio TORONTO, A6 1,425,0001.4m $14.9m $14.9m 5.38% Reduced -1.4m -1,425,000
5 ARISTEIA CAPITAL, L.L.C. 0.52% of their portfolio GREENWICH, CT 1,413,2191.4m $14.8m $14.8m 0.52% Unchanged
6 MMCAP International Inc. SPC 4.82% of their portfolio GRAND CAYMAN, E9 1,399,9981.4m $14.6m $14.6m 4.82% Unchanged
7 Calamos Advisors LLC 0.07% of their portfolio NAPERVILLE, IL 1,250,0001.2m $13.1m $13.1m 0.07% Unchanged
8 RPO LLC 12.57% of their portfolio Stamford, CT 1,180,7931.2m $12.3m $12.3m 12.57% Reduced -300.6k -300,626
9 Westchester Capital Management, LLC 0.39% of their portfolio VALHALLA, NY 1,086,0481.1m $11.3m $11.3m 0.39% Added +562.2k +562,248
10 TENOR CAPITAL MANAGEMENT Co., L.P. 0.22% of their portfolio NEW YORK, NY 1,000,0001.0m $10.4m $10.4m 0.22% Unchanged
11 Radcliffe Capital Management, L.P. 0.87% of their portfolio BALA CYNWYD, PA 981,040981.0k $10.3m $10.3m 0.87% Unchanged
12 FIR TREE CAPITAL MANAGEMENT LP 1.00% of their portfolio New York, NY 974,200974.2k $10.2m $10.2m 1.00% Reduced -23.7k -23,700
13 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 935,551935.6k $9.8m $9.8m 0.00% Unchanged
14 Magnetar Financial LLC 0.20% of their portfolio EVANSTON, IL 864,600864.6k $9.0m $9.0m 0.20% Unchanged
15 Alberta Investment Management Corp 0.08% of their portfolio EDMONTON, A0 750,000750.0k $7.8m $7.8m 0.08% Unchanged
16 AQR Arbitrage LLC 0.28% of their portfolio Greenwich, CT 610,503610.5k $6.4m $6.4m 0.28% Reduced -200.0k -200,009
17 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 464,566464.6k $4.9m $4.9m 0.00% Reduced -806 -806
18 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 453,300453.3k $4.7m $4.7m 0.01% Unchanged
19 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 449,313449.3k $4.7m $4.7m 0.00% Unchanged
20 Exos TFP Holdings LLC 2.31% of their portfolio NEW YORK, NY 448,424448.4k $4.7m $4.7m 2.31% Reduced -114.2k -114,152
21 HSBC HOLDINGS PLC 0.00% of their portfolio LONDON, X0 417,713417.7k $4.4m $4.4m 0.00% Unchanged
22 BOOTHBAY FUND MANAGEMENT, LLC 0.13% of their portfolio NEW YORK, NY 389,492389.5k $4.1m $4.1m 0.13% Reduced -176.3k -176,296
23 COWEN AND COMPANY, LLC 0.33% of their portfolio NEW YORK, NY 376,111376.1k $3.9m $3.9m 0.33% New
24 OCONNOR, A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS (LLC) 0.08% of their portfolio CHICAGO, IL 369,763369.8k $3.9m $3.9m 0.08% Reduced -8.3k -8,334
25 Cohanzick Management, LLC 4.29% of their portfolio Pleasantville, NY 369,506369.5k $3.9m $3.9m 4.29% Reduced -1.6k -1,626
26 RiverPark Advisors, LLC 3.44% of their portfolio NEW YORK, NY 358,543358.5k $3.7m $3.7m 3.44% Unchanged
27 Castle Creek Arbitrage, LLC 0.45% of their portfolio AVON, CO 349,998350.0k $3.7m $3.7m 0.45% Unchanged
28 Taconic Capital Advisors LP 0.21% of their portfolio NEW YORK, NY 338,740338.7k $3.5m $3.5m 0.21% Unchanged
29 Bulldog Investors, LLP 1.10% of their portfolio SADDLE BROOK, NJ 319,173319.2k $3.3m $3.3m 1.10% Reduced -10.2k -10,238
30 Karpus Management, Inc. 0.08% of their portfolio Pittsford, NY 258,800258.8k $2.7m $2.7m 0.08% Reduced -1.0k -1,000
31 MARSHALL WACE, LLP 0.01% of their portfolio LONDON, X0 251,511251.5k $2.6m $2.6m 0.01% Unchanged
32 Apollo Management Holdings, L.P. 0.03% of their portfolio New York, NY 250,000250.0k $2.6m $2.6m 0.03% Unchanged
33 Woodline Partners LP 0.03% of their portfolio San Francisco, CA 249,998250.0k $2.6m $2.6m 0.03% Unchanged
34 BERKLEY W R CORP 0.16% of their portfolio Greenwich, CT 247,275247.3k $2.6m $2.6m 0.16% Unchanged
35 Verition Fund Management LLC 0.04% of their portfolio GREENWICH, CT 222,060222.1k $2.3m $2.3m 0.04% Added +2.2k +2,200
36 Atlas Merchant Capital LLC 0.47% of their portfolio New York, NY 210,000210.0k $2.2m $2.2m 0.47% Unchanged
37 Starboard Value LP 0.05% of their portfolio New York, NY 209,750209.8k $2.2m $2.2m 0.05% Unchanged
38 Saba Capital Management, L.P. 0.07% of their portfolio NEW YORK, NY 200,000200.0k $2.1m $2.1m 0.07% Unchanged
39 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 195,218195.2k $2.0m $2.0m 0.00% Unchanged
40 Flow State Investments, L.P. 0.73% of their portfolio CHICAGO, IL 165,773165.8k $1.7m $1.7m 0.73% New
41 WHITEBOX ADVISORS LLC 0.08% of their portfolio MINNEAPOLIS, MN 150,000150.0k $1.6m $1.6m 0.08% Unchanged
42 Crystalline Management Inc. 1.04% of their portfolio Montreal, Quebec, Z4 140,130140.1k $1.5m $1.5m 1.04% New
43 Meteora Capital, LLC 0.25% of their portfolio Boca Raton, FL 127,861127.9k $1.3m $1.3m 0.25% Reduced -77.1k -77,101
44 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 100,000100.0k $1.0m $1.0m 0.00% Reduced -49.9k -49,923
45 Segantii Capital Management Ltd 0.06% of their portfolio HONG KONG, K3 100,000100.0k $1.0m $1.0m 0.06% Unchanged
46 Mint Tower Capital Management B.V. 0.14% of their portfolio AMSTERDAM, P7 100,000100.0k $1.0m $1.0m 0.14% Unchanged
47 RIVERNORTH CAPITAL MANAGEMENT, LLC 0.05% of their portfolio WEST PALM BEACH, FL 99,993100.0k $1.0m $1.0m 0.05% Unchanged
48 PICTON MAHONEY ASSET MANAGEMENT 0.05% of their portfolio Toronto, A6 99,993100.0k $1.0m $1.0m 0.05% Unchanged
49 DELTEC ASSET MANAGEMENT LLC 0.23% of their portfolio New York, NY 99,90099.9k $1.0m $1.0m 0.23% Unchanged
50 LANDSCAPE CAPITAL MANAGEMENT, L.L.C. 0.12% of their portfolio Englewood, NJ 90,34090.3k $944.1k $944.1k 0.12% Unchanged
51 Cubist Systematic Strategies, LLC 0.01% of their portfolio STAMFORD, CT 80,37980.4k $840.0k $840.0k 0.01% Reduced -35.0k -35,008
52 CAAS CAPITAL MANAGEMENT LP 0.40% of their portfolio NEW YORK, NY 79,07279.1k $826.3k $826.3k 0.40% Unchanged
53 COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.01% of their portfolio HARRISBURG, PA 74,99875.0k $784.1k $784.1k 0.01% Unchanged
54 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 67,01567.0k $699.6k $699.6k 0.00% Added +15 +15
55 Linden Advisors LP 0.01% of their portfolio New York, NY 64,44964.4k $673.5k $673.5k 0.01% Unchanged
56 Walleye Capital LLC 0.01% of their portfolio NEW YORK, NY 50,83750.8k $531.2k $531.2k 0.01% Unchanged
57 HRT FINANCIAL LP 0.01% of their portfolio NEW YORK, NY 50,80950.8k $530.0k $530.0k 0.01% New
58 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 45,20045.2k $472.3k $472.3k 0.00% Unchanged
59 WOLVERINE ASSET MANAGEMENT LLC 0.01% of their portfolio CHICAGO, IL 42,22142.2k $441.2k $441.2k 0.01% Reduced -3.1k -3,133
60 Walleye Trading LLC 0.02% of their portfolio NEW YORK, NY 36,00036.0k $376.2k $376.2k 0.02% Unchanged
61 CVI Holdings, LLC 0.39% of their portfolio WILMINGTON, DE 35,16635.2k $367.5k $367.5k 0.39% Reduced -8.0k -8,003
62 SILVERBACK ASSET MANAGEMENT LLC 0.04% of their portfolio DURHAM, NC 33,33333.3k $264.9k $264.9k 0.04% Added +8.3k +8,333
63 FOURSIXTHREE CAPITAL LP 3.19% of their portfolio NEW YORK, NY 30,84730.8k $322.4k $322.4k 3.19% Unchanged
64 Warberg Asset Management LLC 0.05% of their portfolio WINNETKA, IL 17,73517.7k $185.4k $185.4k 0.05% New
65 Arena Investors LP 0.16% of their portfolio PURCHASE, NY 16,21316.2k $169.4k $169.4k 0.16% Unchanged
66 Virtu Financial LLC 0.01% of their portfolio New York, NY 15,55615.6k $163.0k $163.0k 0.01% New
67 CLEAR STREET LLC 0.00% of their portfolio NEW YORK, NY 2,0002.0k $20.9k $20.9k 0.00% Added +1.5k +1,529
68 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged