Vault-13

POWER & DIGITAL INFRASTRUCTU

CLASS A COM · CUSIP 73919C100

37 institutional holders -28 vs Q1 2023
10,537,80410.5m shares reported held*
$109.7mreported value*
11 new 8 added 11 reduced 37 sold out net sold ≈ $159.6m (-15.3m 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 ≈ $10.41. Options: 0 managers hold calls (— notional), 1 hold puts ($973.0k).

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0255075Q3 22: 51Q4 22: 67Q1 23: 65Q2 23: 3737Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 202251
Q4 202267
Q1 202365
Q2 202337

Buyers vs sellers

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

Bought or addedCut or sold out
50050Q4 22: 27 bought or addedQ4 22: 8 cut or sold outQ4 22Q1 23: 19 bought or addedQ1 23: 20 cut or sold outQ1 23Q2 23: 19 bought or addedQ2 23: 48 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022278
Q1 20231920
Q2 20231948

Calls vs puts

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

CallsPuts
$0$250k$500k$750k$1mQ3 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: $973.0kQ2 23P/C —
Numbers
QuarterCallsPutsP/C
Q3 2022$0$0—
Q4 2022$0$0—
Q1 2023$0$0—
Q2 2023$0$973.0k—

Biggest buyers

Sandia Investment Management LP New +586,639+586.6k
Walleye Capital LLC Added +510,500+510.5k
Castle Creek Arbitrage, LLC Added +444,004+444.0k
Quarry LP New +403,000+403.0k
Verition Fund Management LLC New +401,332+401.3k
MIZUHO SECURITIES USA LLC New +310,762+310.8k
Walleye Trading LLC Added +286,200+286.2k
Sage Rock Capital Management LP New +250,000+250.0k
BERKLEY W R CORP New +205,013+205.0k
FIR TREE CAPITAL MANAGEMENT LP Added +120,536+120.5k

Biggest sellers

ARISTEIA CAPITAL, L.L.C. Reduced -1,942,500-1.9m
MARSHALL WACE, LLP Sold out -1,485,458-1.5m
Periscope Capital Inc. Reduced -1,444,068-1.4m
Saba Capital Management, L.P. Sold out -1,332,816-1.3m
HIGHBRIDGE CAPITAL MANAGEMENT LLC Sold out -1,309,003-1.3m
Governors Lane LP Sold out -1,250,000-1.2m
AQR Arbitrage LLC Sold out -1,202,458-1.2m
Davidson Kempner Capital Management LP Sold out -750,000-750.0k
Linden Advisors LP Sold out -750,000-750.0k
LMR Partners LLP Sold out -700,000-700.0k

Biggest calls

None

Biggest puts

Shaolin Capital Management LLC New $973.0k93.5k 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 FIR TREE CAPITAL MANAGEMENT LP 0.96% of their portfolio New York, NY 941,111941.1k $9.8m $9.8m 0.96% Added +120.5k +120,536
2 Radcliffe Capital Management, L.P. 0.64% of their portfolio BALA CYNWYD, PA 727,998728.0k $7.6m $7.6m 0.64% Added +15.8k +15,791
3 Westchester Capital Management, LLC 0.25% of their portfolio VALHALLA, NY 700,151700.2k $7.3m $7.3m 0.25% Reduced -699.8k -699,849
4 KIM, LLC 0.58% of their portfolio WICHITA, KS 650,000650.0k $6.8m $6.8m 0.58% Reduced -552.0k -552,000
5 Walleye Capital LLC 0.12% of their portfolio NEW YORK, NY 636,800636.8k $6.6m $6.6m 0.12% Added +510.5k +510,500
6 Sandia Investment Management LP 1.87% of their portfolio BOSTON, MA 586,639586.6k $6.1m $6.1m 1.87% New
7 NOMURA HOLDINGS INC 0.06% of their portfolio TOKYO, M0 531,466531.5k $5.5m $5.5m 0.06% Reduced -484.5k -484,494
8 Castle Creek Arbitrage, LLC 0.68% of their portfolio AVON, CO 530,056530.1k $5.5m $5.5m 0.68% Added +444.0k +444,004
9 ARISTEIA CAPITAL, L.L.C. 0.18% of their portfolio GREENWICH, CT 500,000500.0k $5.2m $5.2m 0.18% Reduced -1.9m -1,942,500
10 Periscope Capital Inc. 0.41% of their portfolio Toronto, A6 500,000500.0k $5.2m $5.2m 0.41% Reduced -1.4m -1,444,068
11 Quarry LP 2.71% of their portfolio NEW YORK, NY 403,000403.0k $4.2m $4.2m 2.71% New
12 Verition Fund Management LLC 0.07% of their portfolio GREENWICH, CT 401,332401.3k $4.2m $4.2m 0.07% New
13 Walleye Trading LLC 0.19% of their portfolio NEW YORK, NY 358,200358.2k $3.7m $3.7m 0.19% Added +286.2k +286,200
14 Centiva Capital, LP 0.19% of their portfolio New York, NY 352,481352.5k $3.7m $3.7m 0.19% Added +25.0k +25,000
15 MIZUHO SECURITIES USA LLC 0.11% of their portfolio NEW YORK, NY 310,762310.8k $3.2m $3.2m 0.11% New
16 Polar Asset Management Partners Inc. 0.06% of their portfolio TORONTO, A6 300,000300.0k $3.1m $3.1m 0.06% Unchanged
17 Alberta Investment Management Corp 0.03% of their portfolio EDMONTON, A0 250,000250.0k $2.6m $2.6m 0.03% Unchanged
18 Sage Rock Capital Management LP 3.17% of their portfolio NEW YORK, NY 250,000250.0k $2.6m $2.6m 3.17% New
19 GLAZER CAPITAL, LLC 0.17% of their portfolio New York, NY 241,329241.3k $2.5m $2.5m 0.17% Reduced -11.2k -11,180
20 Arena Capital Advisors, LLC- CA 7.90% of their portfolio LOS ANGELES, CA 227,200227.2k $2.4m $2.4m 7.90% Unchanged
21 BERKLEY W R CORP 0.13% of their portfolio Greenwich, CT 205,013205.0k $2.1m $2.1m 0.13% New
22 Sculptor Capital LP 0.04% of their portfolio New York, NY 150,000150.0k $1.6m $1.6m 0.04% Unchanged
23 Crystalline Management Inc. 1.10% of their portfolio Montreal, Quebec, Z4 150,000150.0k $1.6m $1.6m 1.10% Reduced -100.0k -100,000
24 PRELUDE CAPITAL MANAGEMENT, LLC 0.11% of their portfolio NEW YORK, NY 124,924124.9k $1.3m $1.3m 0.11% Added +5.3k +5,324
25 Hudson Bay Capital Management LP 0.01% of their portfolio STAMFORD, CT 100,000100.0k $1.0m $1.0m 0.01% Reduced -100.0k -100,000
26 BOOTHBAY FUND MANAGEMENT, LLC 0.03% of their portfolio NEW YORK, NY 99,980100.0k $1.0m $1.0m 0.03% Added +41.8k +41,826
27 K2 PRINCIPAL FUND, L.P. 0.26% of their portfolio TORONTO, A6 78,88878.9k $820.7k $820.7k 0.26% New
28 PICTON MAHONEY ASSET MANAGEMENT 0.04% of their portfolio Toronto, A6 75,00075.0k $781.0k $781.0k 0.04% Unchanged
29 Exos TFP Holdings LLC 0.29% of their portfolio NEW YORK, NY 55,66255.7k $578.9k $578.9k 0.29% Reduced -10.9k -10,916
30 GRITSTONE ASSET MANAGEMENT LLC 0.49% of their portfolio Bethesda, MD 38,07738.1k $396.0k $396.0k 0.49% Reduced -189 -189
31 Meteora Capital, LLC 0.03% of their portfolio Boca Raton, FL 14,90714.9k $155.0k $155.0k 0.03% New
32 Schonfeld Strategic Advisors LLC 0.00% of their portfolio NEW YORK, NY 14,89014.9k $154.9k $154.9k 0.00% New
33 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 13,80613.8k $144.0k $144.0k 0.00% Unchanged
34 Virtu Financial LLC 0.01% of their portfolio New York, NY 10,06510.1k $105.0k $105.0k 0.01% New
35 UBS Group AG 0.00% of their portfolio ZURICH, V8 4,8934.9k $50.9k $50.9k 0.00% New
36 CLEAR STREET LLC 0.00% of their portfolio NEW YORK, NY 3,1743.2k $33.0k $33.0k 0.00% Reduced -15.6k -15,583
37 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged