Vault-13

PARAGON 28 INC FNA

COM · Common Stock · CUSIP 69913P105

160 institutional holders +29 vs Q4 2024
54,815,59154.8m shares reported held*
$715.7mreported value*
60 new 45 added 36 reduced 31 sold out net bought ≈ $61.9m (+4.8m 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 ($1.9m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $13.06. Options: 5 managers hold calls ($223.8k notional), 6 hold puts ($2.7m).

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 79Q4 22: 87Q1 23: 108Q2 23: 108Q3 23: 96Q4 23: 112Q1 24: 108Q2 24: 112Q3 24: 114Q4 24: 131Q1 25: 160160Q3 22Q1 23Q3 23Q1 24Q3 24Q1 25
Numbers
QuarterHolders
Q3 202279
Q4 202287
Q1 2023108
Q2 2023108
Q3 202396
Q4 2023112
Q1 2024108
Q2 2024112
Q3 2024114
Q4 2024131
Q1 2025160

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q2 23: 55 bought or addedQ2 23: 49 cut or sold outQ3 23: 43 bought or addedQ3 23: 52 cut or sold outQ3 23Q4 23: 60 bought or addedQ4 23: 48 cut or sold outQ1 24: 49 bought or addedQ1 24: 58 cut or sold outQ1 24Q2 24: 75 bought or addedQ2 24: 42 cut or sold outQ3 24: 56 bought or addedQ3 24: 54 cut or sold outQ3 24Q4 24: 67 bought or addedQ4 24: 54 cut or sold outQ1 25: 105 bought or addedQ1 25: 67 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q2 20235549
Q3 20234352
Q4 20236048
Q1 20244958
Q2 20247542
Q3 20245654
Q4 20246754
Q1 202510567

Calls vs puts

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

CallsPuts
$0$1m$2m$3mQ2 24 calls: $34.8kQ2 24 puts: $25.7kQ2 24P/C 0.74Q3 24 calls: $187.6kQ3 24 puts: $18.7kQ3 24P/C 0.10Q4 24 calls: $126.0kQ4 24 puts: $13.4kQ4 24P/C 0.11Q1 25 calls: $223.8kQ1 25 puts: $2.7mQ1 25P/C 11.92
Numbers
QuarterCallsPutsP/C
Q2 2024$34.8k$25.7k0.74
Q3 2024$187.6k$18.7k0.10
Q4 2024$126.0k$13.4k0.11
Q1 2025$223.8k$2.7m11.92

Biggest buyers

GLAZER CAPITAL, LLC New +5,793,292+5.8m
UBS Group AG Added +4,676,253+4.7m
TIG Advisors, LLC New +2,556,451+2.6m
Rubric Capital Management LP New +1,879,635+1.9m
GABELLI & Co INVESTMENT ADVISERS, INC. New +1,400,607+1.4m
GABELLI FUNDS LLC New +1,285,906+1.3m
CIBRA Capital Ltd New +931,679+931.7k
Pentwater Capital Management LP New +900,000+900.0k
JANE STREET GROUP, LLC Added +830,135+830.1k
Schonfeld Strategic Advisors LLC New +768,640+768.6k

Biggest sellers

First Light Asset Management, LLC Reduced -10,080,467-10.1m
MVM Partners, LLC Reduced -5,531,263-5.5m
BRAIDWELL LP Sold out -3,834,809-3.8m
Bleichroeder LP Sold out -1,763,339-1.8m
GW&K Investment Management, LLC Reduced -1,637,932-1.6m
JANUS HENDERSON GROUP PLC Reduced -1,174,093-1.2m
BANK OF AMERICA CORP /DE/ Reduced -719,780-719.8k
JPMORGAN CHASE & CO Reduced -577,003-577.0k
PEREGRINE CAPITAL MANAGEMENT LLC Sold out -500,094-500.1k
PFG Advisors Sold out -385,530-385.5k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP New $151.5k11.6k shares
SIMPLEX TRADING, LLC New $41.0k3.2k shares
CITADEL ADVISORS LLC Reduced $30.0k2.3k shares
GROUP ONE TRADING LLC New $1.3k100 shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP New $2.3m174.8k shares
CSS LLC/IL New $237.7k18.2k shares
SIMPLEX TRADING, LLC New $130.0k10.0k shares
GROUP ONE TRADING LLC New $10.4k800 shares
CITADEL ADVISORS LLC Reduced $7.8k600 shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 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.

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.

HolderStakeChangeShares Last filed
GLAZER CAPITAL, LLC 13G · passive investor new · filed 2025-02-28 7.0% new 5.9m 2025-02-28

Holders, Q1 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 GLAZER CAPITAL, LLC 3.50% of their portfolio New York, NY 5,793,2925.8m $75.7m $75.7m 3.50% New
2 MVM Partners, LLC 80.36% of their portfolio BOSTON, MA 4,854,8824.9m $63.4m $63.4m 80.36% Reduced -5.5m -5,531,263
3 UBS Group AG 0.01% of their portfolio ZURICH, V8 4,752,5794.8m $62.1m $62.1m 0.01% Added +4.7m +4,676,253
4 BlackRock, Inc. 0.00% of their portfolio New York, NY 3,605,0743.6m $47.1m $47.1m 0.00% Added +86.8k +86,824
5 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 2,986,4593.0m $39.0m $39.0m 0.00% Added +177.3k +177,350
6 Trium Capital LLP 14.82% of their portfolio LONDON, X0 2,795,3072.8m $36.5m $36.5m 14.82% Not comparable
7 TIG Advisors, LLC 2.18% of their portfolio New York, NY 2,556,4512.6m $33.4m $33.4m 2.18% New
8 CADIAN CAPITAL MANAGEMENT, LP 1.16% of their portfolio NEW YORK, NY 2,075,0052.1m $27.1m $27.1m 1.16% Added +672.1k +672,085
9 Rubric Capital Management LP 0.44% of their portfolio NEW YORK, NY 1,879,6351.9m $24.5m $24.5m 0.44% New
10 GABELLI & Co INVESTMENT ADVISERS, INC. 2.77% of their portfolio Rye, NY 1,400,6071.4m $18.3m $18.3m 2.77% New
11 GABELLI FUNDS LLC 0.13% of their portfolio Rye, NY 1,285,9061.3m $16.8m $16.8m 0.13% New
12 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 1,115,2901.1m $14.6m $14.6m 0.01% Added +767.0k +766,984
13 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 1,091,9111.1m $14.3m $14.3m 0.00% Added +43.6k +43,570
14 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 1,006,4261.0m $13.1m $13.1m 0.00% Added +27.6k +27,594
15 CIBRA Capital Ltd 4.24% of their portfolio LONDON, X0 931,679931.7k $12.2m $12.2m 4.24% New
16 JANE STREET GROUP, LLC 0.02% of their portfolio NEW YORK, NY 904,938904.9k $11.8m $11.8m 0.02% Added +830.1k +830,135
17 Pentwater Capital Management LP 0.16% of their portfolio Naples, FL 900,000900.0k $11.8m $11.8m 0.16% New
18 Schonfeld Strategic Advisors LLC 0.07% of their portfolio NEW YORK, NY 768,640768.6k $10.0m $10.0m 0.07% New
19 PICTON MAHONEY ASSET MANAGEMENT 0.34% of their portfolio Toronto, A6 750,000750.0k $9.8m $9.8m 0.34% New
20 Park Edge Advisors, LLC 2.18% of their portfolio Cleveland, OH 598,870598.9k $7.8m $7.8m 2.18% Unchanged
21 ExodusPoint Capital Management, LP 0.10% of their portfolio NEW YORK, NY 595,652595.7k $7.8m $7.8m 0.10% Added +544.8k +544,817
22 Chicago Capital Management, LLC 4.64% of their portfolio CHICAGO, IL 571,300571.3k $7.5m $7.5m 4.64% New
23 First Light Asset Management, LLC 0.75% of their portfolio Edina, MN 500,000500.0k $6.5m $6.5m 0.75% Reduced -10.1m -10,080,467
24 Trexquant Investment LP 0.07% of their portfolio STAMFORD, CT 465,228465.2k $6.1m $6.1m 0.07% New
25 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 441,716441.7k $5.8m $5.8m 0.00% Reduced -14.9k -14,856
26 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 430,319430.3k $5.6m $5.6m 0.00% Added +215.5k +215,484
27 HighMark Wealth Management LLC 3.11% of their portfolio ST. PAUL, MN 403,226403.2k $5.3m $5.3m 3.11% Reduced -108.9k -108,918
28 Murchinson Ltd. 0.91% of their portfolio TORONTO, A6 400,000400.0k $5.2m $5.2m 0.91% New
29 OMERS ADMINISTRATION Corp 0.04% of their portfolio TORONTO, A6 360,100360.1k $4.7m $4.7m 0.04% New
30 WATER ISLAND CAPITAL LLC 0.81% of their portfolio NEW YORK, NY 358,000358.0k $4.7m $4.7m 0.81% New
31 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 341,404341.4k $4.5m $4.5m 0.00% Reduced -3.8k -3,842
32 Woodline Partners LP 0.03% of their portfolio San Francisco, CA 325,292325.3k $4.2m $4.2m 0.03% New
33 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 307,819307.8k $4.0m $4.0m 0.00% Added +294.0k +294,049
34 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 306,670306.7k $4.0m $4.0m 0.00% Added +59.2k +59,172
35 AQR Arbitrage LLC 0.10% of their portfolio Greenwich, CT 306,387306.4k $4.0m $4.0m 0.10% New
36 Groupe la Francaise 0.08% of their portfolio PARIS, I0 295,590295.6k $3.9m $3.9m 0.08% New
37 Yakira Capital Management, Inc. 1.54% of their portfolio Westport, CT 289,667289.7k $3.8m $3.8m 1.54% New
38 TUDOR INVESTMENT CORP ET AL 0.03% of their portfolio STAMFORD, CT 270,776270.8k $3.5m $3.5m 0.03% Added +216.6k +216,572
39 BOOTHBAY FUND MANAGEMENT, LLC 0.11% of their portfolio NEW YORK, NY 252,501252.5k $3.3m $3.3m 0.11% New
40 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 231,608231.6k $3.0m $3.0m 0.00% Reduced -577.0k -577,003
41 New York Life Investment Management LLC 0.03% of their portfolio New York, NY 222,637222.6k $2.9m $2.9m 0.03% New
42 Meteora Capital, LLC 0.95% of their portfolio Boca Raton, FL 205,000205.0k $2.7m $2.7m 0.95% New
43 Lifeworks Advisors, LLC 0.43% of their portfolio GRAND RAPIDS, MI 200,295200.3k $2.6m $2.6m 0.43% New
44 Athos Capital Ltd 3.23% of their portfolio HONG KONG, K3 200,000200.0k $2.6m $2.6m 3.23% New
45 CREDIT INDUSTRIEL ET COMMERCIAL 0.46% of their portfolio PARIS FRANCE, I0 194,742194.7k $2.5m $2.5m 0.46% New
46 RK Capital Management, LLC/FL 1.19% of their portfolio Weston, FL 191,800191.8k $2.5m $2.5m 1.19% New
47 Alpine Global Management, LLC 0.66% of their portfolio NEW YORK, NY 190,723190.7k $2.5m $2.5m 0.66% New
48 HARVEST MANAGEMENT LLC 1.07% of their portfolio New York, NY 176,780176.8k $2.3m $2.3m 1.07% New
49 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 169,058169.1k $2.2m $2.2m 0.00% First filing
50 DELTEC ASSET MANAGEMENT LLC 0.43% of their portfolio New York, NY 152,261152.3k $2.0m $2.0m 0.43% New
51 PRELUDE CAPITAL MANAGEMENT, LLC 0.19% of their portfolio NEW YORK, NY 147,024147.0k $1.9m $1.9m 0.19% New
52 CSS LLC/IL 0.13% of their portfolio CHICAGO, IL 142,582142.6k $1.9m $1.9m 0.13% New
53 Balyasny Asset Management L.P. 0.00% of their portfolio Chicago, IL 139,053139.1k $1.8m $1.8m 0.00% Added +125.8k +125,765
54 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.00% of their portfolio TORONTO, A6 122,848122.8k $1.6m $1.6m 0.00% New
55 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 122,748122.7k $1.6m $1.6m 0.00% Reduced -793 -793
56 Mint Tower Capital Management B.V. 0.53% of their portfolio AMSTERDAM, P7 110,000110.0k $1.4m $1.4m 0.53% New
57 BCK CAPITAL MANAGEMENT LP 1.11% of their portfolio STAMFORD, CT 109,000109.0k $1.4m $1.4m 1.11% New
58 Prescott Group Capital Management, L.L.C. 0.19% of their portfolio Tulsa, OK 100,000100.0k $1.3m $1.3m 0.19% Unchanged
59 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 99,85199.9k $1.3m $1.3m 0.00% Added +8.1k +8,138
60 First Trust Capital Management L.P. 0.09% of their portfolio CHICAGO, IL 97,34597.3k $1.3m $1.3m 0.09% New
61 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 97,31897.3k $1.3m $1.3m 0.00% Added +16.0k +16,029
62 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 85,26185.3k $1.1m $1.1m 0.00% Added +40.2k +40,235
63 MN Wealth Advisors, LLC 0.64% of their portfolio OVERLAND PARK, KS 83,33583.3k $1.1m $1.1m 0.64% Reduced -1.2k -1,200
64 Squarepoint Ops LLC 0.00% of their portfolio NEW YORK, NY 81,58581.6k $1.1m $1.1m 0.00% Added +52.3k +52,284
65 GTS SECURITIES LLC 0.04% of their portfolio NEW YORK, NY 75,12475.1k $981.1k $981.1k 0.04% New
66 Swiss National Bank 0.00% of their portfolio ZURICH, V8 73,90073.9k $965.1k $965.1k 0.00% Unchanged
67 Cubist Systematic Strategies, LLC 0.01% of their portfolio STAMFORD, CT 67,68967.7k $884.0k $884.0k 0.01% Reduced -37.5k -37,487
68 One68 Global Capital, LLC 0.43% of their portfolio NEW YORK, NY 67,00067.0k $875.0k $875.0k 0.43% New
69 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 66,98267.0k $874.8k $874.8k 0.00% Added +4.1k +4,121
70 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 65,96066.0k $861.4k $861.4k 0.00% Reduced -24.7k -24,698
71 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 64,88064.9k $847.3k $847.3k 0.00% Reduced -719.8k -719,780
72 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 64,32464.3k $840.0k $840.0k 0.00% Reduced -740 -740
73 Graham Capital Management, L.P. 0.03% of their portfolio ROWAYTON, CT 61,54161.5k $803.7k $803.7k 0.03% New
74 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio BOSTON, MA 57,99858.0k $757.5k $757.5k 0.00% New
75 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 57,56057.6k $751.7k $751.7k 0.00% Added +3.3k +3,340
76 TORONTO DOMINION BANK 0.00% of their portfolio TORONTO, ONTARIO, A6 52,93652.9k $691.3k $691.3k 0.00% New
77 Verition Fund Management LLC 0.00% of their portfolio GREENWICH, CT 51,30251.3k $670.0k $670.0k 0.00% Added +22.9k +22,926
78 JBF Capital, Inc. 0.13% of their portfolio Aspen, CO 50,00050.0k $653.0k $653.0k 0.13% New
79 Rangeley Capital, LLC 0.74% of their portfolio NEW CANAAN, CT 50,00050.0k $653.0k $653.0k 0.74% New
80 Aquatic Capital Management LLC 0.02% of their portfolio CHICAGO, IL 48,28748.3k $630.6k $630.6k 0.02% Added +35.2k +35,242
81 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 47,04847.0k $614.0k $614.0k 0.00% Added +20.3k +20,294
82 ALGERT GLOBAL LLC 0.01% of their portfolio SAN FRANCISCO, CA 46,16046.2k $602.9k $602.9k 0.01% New
83 Virtu Financial LLC 0.03% of their portfolio New York, NY 44,66144.7k $583.0k $583.0k 0.03% New
84 PenderFund Capital Management Ltd. 0.12% of their portfolio VANCOUVER, A1 41,90041.9k $375.7k $375.7k 0.12% New
85 Brevan Howard Capital Management LP 0.01% of their portfolio ST. HELIER, Y9 40,29840.3k $526.3k $526.3k 0.01% New
86 Mariner, LLC 0.00% of their portfolio Overland Park, KS 38,59838.6k $504.1k $504.1k 0.00% Reduced -185 -185
87 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 36,89336.9k $481.8k $481.8k 0.00% Reduced -3.5k -3,542
88 AlphaQuest LLC 0.05% of their portfolio New York, NY 36,55436.6k $477.4k $477.4k 0.05% Added +32.9k +32,874
89 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 36,23636.2k $473.2k $473.2k 0.00% Reduced -3.4k -3,446
90 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 35,82735.8k $467.9k $467.9k 0.00% Unchanged
91 Legal & General Group Plc 0.00% of their portfolio London, X0 33,07533.1k $432.0k $432.0k 0.00% Added +4.5k +4,521
92 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 28,62528.6k $373.8k $373.8k 0.00% Added +5.0k +5,001
93 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio CAUSEWAY BAY, K3 27,98928.0k $365.5k $365.5k 0.00% Added +1.2k +1,170
94 DARK FOREST CAPITAL MANAGEMENT LP 0.02% of their portfolio NEW YORK, NY 27,39127.4k $357.7k $357.7k 0.02% New
95 MetLife Investment Management, LLC 0.00% of their portfolio Whippany, NJ 26,86826.9k $350.9k $350.9k 0.00% Reduced -544 -544
96 Inspire Investing, LLC 0.04% of their portfolio MERIDIAN, ID 26,35026.4k $344.1k $344.1k 0.04% Reduced -12.3k -12,251
97 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 26,10426.1k $340.9k $340.9k 0.00% Added +756 +756
98 VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio ATLANTA, GA 25,70225.7k $335.7k $335.7k 0.00% Added +10.7k +10,716
99 INTECH INVESTMENT MANAGEMENT LLC 0.00% of their portfolio WEST PALM BEACH, FL 24,88724.9k $325.0k $325.0k 0.00% Added +1.1k +1,103
100 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 24,45424.5k $319.4k $319.4k 0.00% Reduced -1.1k -1,090