MONTANA TECHNOLOGIES CORP AIRJW
*W EXP 03/15/202 · Equity WRT
· CUSIP 612160119
Sector Industrials
Industry Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip
Headquarters Ronan, MT
Filings SEC EDGAR
25
institutional holders
+1 vs Q1 2026
9,226,694 9.2m
shares reported held*
$12.0m reported value*
5 new
7 added
3 reduced
3 sold out
net bought ≈ $346.9k (+266.8k 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 ≈ $1.30.
Options: 2 managers hold calls
($392.0k notional), 0 hold puts (—).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
0 20 40 Q1 24: 39 Q2 24: 28 Q3 24: 26 Q4 24: 25 Q1 25: 24 Q2 25: 25 Q3 25: 23 Q4 25: 26 Q1 26: 24 Q2 26: 25 25 Q1 24 Q3 24 Q1 25 Q3 25 Q1 26 Q2 26
Numbers
Quarter Holders
Q1 2024 39 Q2 2024 28 Q3 2024 26 Q4 2024 25 Q1 2025 24 Q2 2025 25 Q3 2025 23 Q4 2025 26 Q1 2026 24 Q2 2026 25
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Bought or added Cut or sold out
20 0 20 Q3 24: 8 bought or added Q3 24: 6 cut or sold out Q4 24: 4 bought or added Q4 24: 10 cut or sold out Q4 24 Q1 25: 2 bought or added Q1 25: 3 cut or sold out Q2 25: 3 bought or added Q2 25: 2 cut or sold out Q2 25 Q3 25: 7 bought or added Q3 25: 8 cut or sold out Q4 25: 10 bought or added Q4 25: 5 cut or sold out Q4 25 Q1 26: 4 bought or added Q1 26: 6 cut or sold out Q2 26: 12 bought or added Q2 26: 6 cut or sold out Q2 26
Numbers
Quarter Bought or added Cut or sold out
Q3 2024 8 6 Q4 2024 4 10 Q1 2025 2 3 Q2 2025 3 2 Q3 2025 7 8 Q4 2025 10 5 Q1 2026 4 6 Q2 2026 12 6
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Calls Puts
$0 $100k $200k $300k $400k Q3 25 calls: $264.1k Q3 25 puts: $0 Q3 25 P/C 0.00 Q4 25 calls: $257.0k Q4 25 puts: $0 Q4 25 P/C 0.00 Q1 26 calls: $169.0k Q1 26 puts: $0 Q1 26 P/C 0.00 Q2 26 calls: $392.0k Q2 26 puts: $0 Q2 26 P/C 0.00
Numbers
Quarter Calls Puts P/C
Q3 2025 $264.1k $0 0.00 Q4 2025 $257.0k $0 0.00 Q1 2026 $169.0k $0 0.00 Q2 2026 $392.0k $0 0.00
Biggest buyers
Hudson Bay Capital Management LP
New
+1,054,138 +1.1m
LMR Partners LLP
Added
+1,047,878 +1.0m
PEAK6 LLC
New
+755,503 +755.5k
Caption Management, LLC
Added
+550,000 +550.0k
Fort Baker Capital Management LP
Added
+367,547 +367.5k
ARISTEIA CAPITAL, L.L.C.
Added
+350,000 +350.0k
TORONTO DOMINION BANK
Added
+144,943 +144.9k
CSS LLC/IL
New
+90,998 +91.0k
Ionic Capital Management LLC
New
+67,917 +67.9k
K2 PRINCIPAL FUND, L.P.
Added
+63,070 +63.1k
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.
Insider purchases and sales since 1 Apr 2026
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.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Buying Selling
4 0 4 Q4 24: 0 buying Q4 24: 0 selling Q1 25: 0 buying Q1 25: 0 selling Q1 25 Q2 25: 0 buying Q2 25: 4 selling Q3 25: 0 buying Q3 25: 0 selling Q3 25 Q4 25: 4 buying Q4 25: 0 selling Q1 26: 3 buying Q1 26: 1 selling Q1 26 Q2 26: 0 buying Q2 26: 1 selling Q3 26: 0 buying Q3 26: 0 selling Q3 26
Numbers
Quarter Buying Bought Selling Sold Sold under a plan
Q4 2024 0 — 0 — — Q1 2025 0 — 0 — — Q2 2025 0 — 4 $63.6k — Q3 2025 0 — 0 — — Q4 2025 4 $1.1m 0 — — Q1 2026 3 $775.0k 1 $11.0k — Q2 2026 0 — 1 $33.7k — Q3 2026 0 — 0 — —
Date Insider Trade Shares Price
Value Their holding
2026-06-09
MacDonald Chad
Chief Legal Officer
Sold
1,987
$4.50
$8.9k2.0k shares
-4%
2026-06-08
MacDonald Chad
Chief Legal Officer
Sold
5,320
$4.65
$24.7k5.3k shares
-10%
Their holding: how much the trade added to or took from the insider's holding (direct, or the
trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the
director who represents it; totals count it once. A value is left blank where the reported price is far from
the market price (usually a typo).
Holders, Q2 2026
# Manager Location Shares
Value % of their portfolio Change Shares change
1
HITE Hedge Asset Management LLC
0.14% of their portfolio
BRAINTREE, MA
1,948,786 1.9m
$2.5m
$2.5m
0.14%
Reduced
-4.2m
-4,159,489
2
LMR Partners LLP
0.02% of their portfolio
LONDON, X0
1,607,054 1.6m
$2.1m
$2.1m
0.02%
Added
+1.0m
+1,047,878
3
Hudson Bay Capital Management LP
0.01% of their portfolio
STAMFORD, CT
1,054,138 1.1m
$1.4m
$1.4m
0.01%
New
4
Caption Management, LLC
0.04% of their portfolio
OKLAHOMA CITY, OK
832,576 832.6k
$1.1m
$1.1m
0.04%
Added
+550.0k
+550,000
5
PEAK6 LLC
0.02% of their portfolio
AUSTIN, TX
755,503 755.5k
$982.2k
$982.2k
0.02%
New
6
ARISTEIA CAPITAL, L.L.C.
0.01% of their portfolio
GREENWICH, CT
708,193 708.2k
$917.1k
$917.1k
0.01%
Added
+350.0k
+350,000
7
Fort Baker Capital Management LP
0.06% of their portfolio
Larkspur, CA
541,319 541.3k
$703.7k
$703.7k
0.06%
Added
+367.5k
+367,547
8
TORONTO DOMINION BANK
0.00% of their portfolio
TORONTO, ONTARIO, A6
393,925 393.9k
$512.1k
$512.1k
0.00%
Added
+144.9k
+144,943
9
Saba Capital Management, L.P.
0.01% of their portfolio
NEW YORK, NY
239,381 239.4k
$310.0k
$310.0k
0.01%
Reduced
-36.3k
-36,266
10
K2 PRINCIPAL FUND, L.P.
0.02% of their portfolio
TORONTO, A6
178,982 179.0k
$232.7k
$232.7k
0.02%
Added
+63.1k
+63,070
11
Vestcor Inc
0.01% of their portfolio
FREDERICTON, A3
162,500 162.5k
$210.0k
$210.0k
0.01%
Unchanged
12
Weiss Asset Management LP
0.00% of their portfolio
BOSTON, MA
148,029 148.0k
$191.0k
$191.0k
0.00%
Unchanged
13
Alberta Investment Management Corp
0.00% of their portfolio
EDMONTON, A0
125,000 125.0k
$162.5k
$162.5k
0.00%
Unchanged
14
CSS LLC/IL
0.01% of their portfolio
CHICAGO, IL
90,998 91.0k
$118.3k
$118.3k
0.01%
New
15
Linden Advisors LP
0.00% of their portfolio
New York, NY
79,845 79.8k
$104.2k
$104.2k
0.00%
Unchanged
16
Ionic Capital Management LLC
0.08% of their portfolio
NEW YORK, NY
67,917 67.9k
$88.3k
$88.3k
0.08%
New
17
Corient Private Wealth LP
0.00% of their portfolio
MIAMI, FL
55,145 55.1k
$71.7k
$71.7k
0.00%
Reduced
-4.9k
-4,855
18
WOLVERINE ASSET MANAGEMENT LLC
0.00% of their portfolio
CHICAGO, IL
53,946 53.9k
$70.1k
$70.1k
0.00%
Added
+6.5k
+6,549
19
Calamos Advisors LLC
0.00% of their portfolio
NAPERVILLE, IL
50,000 50.0k
$64.5k
$64.5k
0.00%
Unchanged
20
Bracebridge Capital, LLC
0.01% of their portfolio
BOSTON, MA
50,000 50.0k
$65.0k
$65.0k
0.01%
Unchanged
21
WHITEBOX ADVISORS LLC
0.00% of their portfolio
MINNEAPOLIS, MN
46,500 46.5k
$60.5k
$60.5k
0.00%
Unchanged
22
Virtu Financial LLC
0.00% of their portfolio
New York, NY
16,688 16.7k
$22.0k
$22.0k
0.00%
New
23
Thomas J. Herzfeld Advisors, Inc.
0.01% of their portfolio
MIAMI BEACH, FL
15,307 15.3k
$19.9k
$19.9k
0.01%
Unchanged
24
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO
0.00% of their portfolio
MILWAUKEE, WI
2,962 3.0k
$3.9k
$3.9k
0.00%
Unchanged
25
Marshall & Sterling Wealth Advisors Inc.
0.00% of their portfolio
POUGHKEEPSIE, NY
2,000 2.0k
$2.6k
$2.6k
0.00%
Unchanged