RAMACO RES INC METC 0 11.01.31

NOTE 11/0 · US DOMESTIC · CUSIP 75134PAB1

19 institutional holders -7 vs Q1 2026

8,925,0008.9m shares reported held*

$228.8mreported value*

1 new 5 added 4 reduced 8 sold out net sold ≈ $3.5m

* 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 ≈ $25.63.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

Numbers

Quarter	Holders
Q4 2025	27
Q1 2026	26
Q2 2026	19

Buyers vs sellers

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

Bought or addedCut or sold out

Numbers

Quarter	Bought or added	Cut or sold out
Q1 2026	15	12
Q2 2026	6	12

Biggest buyers

Nuveen, LLC	Added	+16,808,000+16.8m
Context Capital Management, LLC	Added	+13,000,000+13.0m
MILLENNIUM MANAGEMENT LLC	Added	+3,000,000+3.0m
Jain Global LLC	Added	+1,534,000+1.5m
BlackRock, Inc.	Added	+1,325,000+1.3m
Balyasny Asset Management L.P.	New	+1,000,000+1.0m

Biggest sellers

CAPSTONE INVESTMENT ADVISORS, LLC	Reduced	-10,000,000-10.0m
AMERIPRISE FINANCIAL INC	Sold out	-10,000,000-10.0m
BANK OF AMERICA CORP /DE/	Reduced	-7,200,000-7.2m
Jump Financial, LLC	Reduced	-5,500,000-5.5m
CITADEL ADVISORS LLC	Sold out	-2,625,000-2.6m
Jefferies Financial Group Inc.	Sold out	-1,675,000-1.7m
SHENKMAN CAPITAL MANAGEMENT INC	Reduced	-1,455,000-1.5m
READYSTATE ASSET MANAGEMENT LP	Sold out	-1,000,000-1.0m
LuminArx Capital Management LP	Sold out	-1,000,000-1.0m
Ares Systematic Credit Ltd	Sold out	-500,000-500.0k

Holders, Q2 2026

#	Manager	Location	Shares	Value	% of their portfolio	Change	Shares change
1	Context Capital Management, LLC 1.10% of their portfolio	LAJOLLA, CA	73,005,00073.0m $54.6m	$54.6m	1.10%	Added +13.0m	+13,000,000
2	Graham Capital Management, L.P. 1.12% of their portfolio	ROWAYTON, CT	56,300,00056.3m $41.7m	$41.7m	1.12%	Unchanged
3	Linden Advisors LP 0.13% of their portfolio	New York, NY	33,330,00033.3m $24.8m	$24.8m	0.13%	Unchanged
4	Nuveen, LLC 0.00% of their portfolio	CHARLOTTE, NC	23,925,00023.9m $17.8m	$17.8m	0.00%	Added +16.8m	+16,808,000
5	Jump Financial, LLC 0.16% of their portfolio	Chicago, IL	23,535,00023.5m $17.4m	$17.4m	0.16%	Reduced -5.5m	-5,500,000
6	Acasta Partners UK LLP 7.80% of their portfolio	LONDON, X0	20,000,00020.0m $14.8m	$14.8m	7.80%	Unchanged
7	Calamos Advisors LLC 0.04% of their portfolio	NAPERVILLE, IL	15,000,00015.0m $11.1m	$11.1m	0.04%	Unchanged
8	LMR Partners LLP 0.05% of their portfolio	LONDON, X0	10,000,00010.0m $7.4m	$7.4m	0.05%	Unchanged
9	BANK OF AMERICA CORP /DE/ 0.00% of their portfolio	CHARLOTTE, NC	9,694,0009.7m $7.2m	$7.2m	0.00%	Reduced -7.2m	-7,200,000
10	MIZUHO SECURITIES USA LLC 0.06% of their portfolio	NEW YORK, NY	8,925,0008.9m $6.7m	$6.7m	0.06%	Unchanged
11	Jain Global LLC 0.07% of their portfolio	NEW YORK, NY	8,534,0008.5m $6.3m	$6.3m	0.07%	Added +1.5m	+1,534,000
12	BlackRock, Inc. 0.00% of their portfolio	New York, NY	6,750,0006.8m $5.0m	$5.0m	0.00%	Added +1.3m	+1,325,000
13	SHENKMAN CAPITAL MANAGEMENT INC 0.65% of their portfolio	NEW YORK, NY	6,112,0006.1m $4.7m	$4.7m	0.65%	Reduced -1.5m	-1,455,000
14	MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio	NEW YORK, NY	4,500,0004.5m $3.4m	$3.4m	0.00%	Added +3.0m	+3,000,000
15	CAPSTONE INVESTMENT ADVISORS, LLC 0.02% of their portfolio	NEW YORK, NY	4,000,0004.0m $3.0m	$3.0m	0.02%	Reduced -10.0m	-10,000,000
16	ADVENT CAPITAL MANAGEMENT /DE/ 0.03% of their portfolio	NEW YORK, NY	2,000,0002.0m $1.5m	$1.5m	0.03%	Unchanged
17	Balyasny Asset Management L.P. 0.00% of their portfolio	Chicago, IL	1,000,0001.0m $743.6k	$743.6k	0.00%	New
18	WELLS FARGO & COMPANY/MN 0.00% of their portfolio	SAN FRANCISCO, CA	720,000720.0k $524.5k	$524.5k	0.00%	Unchanged
19	PointState Capital LP 0.00% of their portfolio	New York, NY	220,000220.0k $161.7k	$161.7k	0.00%	Unchanged