TERRAN ORBITAL CORPORATION
*W EXP 03/25/202 · CUSIP 88105P111
27
institutional holders
+1 vs Q3 2023
11.7m
shares reported held*
$782.3kreported value*
4 new
2 added
3 reduced
3 sold out
net sold ≈ $73.3k (-1.2m 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 ≈ $0.07. Options: 3 managers hold calls ($124.6k notional), 0 hold puts (—).
Trends to Q4 2023
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 34 |
| Q4 2022 | 33 |
| Q1 2023 | 28 |
| Q2 2023 | 26 |
| Q3 2023 | 26 |
| Q4 2023 | 27 |
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 |
|---|---|---|
| Q4 2022 | 9 | 10 |
| Q1 2023 | 6 | 13 |
| Q2 2023 | 2 | 5 |
| Q3 2023 | 3 | 5 |
| Q4 2023 | 6 | 6 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
CallsPuts
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2023 | $665.7k | $0 | 0.00 |
| Q2 2023 | $297.7k | $0 | 0.00 |
| Q3 2023 | $238.7k | $0 | 0.00 |
| Q4 2023 | $124.6k | $0 | 0.00 |
Biggest buyers
| Flow State Investments, L.P. | New | +104.2k |
| Greenland Capital Management LP | New | +77.0k |
| COWEN AND COMPANY, LLC | New | +66.2k |
| WOLVERINE ASSET MANAGEMENT LLC | Added | +17.7k |
| UBS Group AG | Added | +7.2k |
| CLEAR STREET LLC | New | +100 |
Biggest sellers
| Ionic Capital Management LLC | Sold out | -1.1m |
| Phoenix Financial Ltd. | Reduced | -133.3k |
| Walleye Capital LLC | Reduced | -114.9k |
| Castle Creek Arbitrage, LLC | Sold out | -62.3k |
| Luxor Capital Group, LP | Reduced | -52.5k |
| Procyon Advisors, LLC | Sold out | -15.0k |
Biggest calls
| ANGELO GORDON & CO., L.P. | Unchanged | $76.0k66.7k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $27.6k424.0k shares |
| Clal Insurance Enterprises Holdings Ltd | Unchanged | $21.0k322.3k shares |
Biggest puts
| None |
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, Q4 2023
| Manager | Shares | Change |
|---|---|---|
| LMR Partners LLP 0.01% of their portfolio | 6.3m $412.0k | Unchanged |
| Walleye Capital LLC 0.00% of their portfolio | 2.3m $152.6k | Reduced -114.9k |
| SECURITY BENEFIT LIFE INSURANCE CO /KS/ 0.01% of their portfolio | 500.0k $32.5k | Unchanged |
| Altshuler Shaham Ltd 0.00% of their portfolio | 436.7k $28.4k | Unchanged |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 296.6k $19.3k | Unchanged |
| Corbin Capital Partners, L.P. 0.07% of their portfolio | 233.3k $15.2k | Unchanged |
| Context Capital Management, LLC 0.00% of their portfolio | 195.4k $12.7k | Unchanged |
| Phoenix Financial Ltd. 0.00% of their portfolio | 133.3k $27.4k | Reduced -133.3k |
| Sculptor Capital LP 0.00% of their portfolio | 125.0k $9.7k | Unchanged |
| Davidson Kempner Capital Management LP 0.00% of their portfolio | 116.7k $7.6k | Unchanged |
| Calamos Advisors LLC 0.00% of their portfolio | 116.7k $7.6k | Unchanged |
| Flow State Investments, L.P. 0.00% of their portfolio | 104.2k $6.8k | New |
| Atalaya Capital Management LP 0.01% of their portfolio | 100.0k $7.0k | Unchanged |
| KIM, LLC 0.00% of their portfolio | 97.2k $6.3k | Unchanged |
| Walleye Trading LLC 0.00% of their portfolio | 78.3k $5.1k | Unchanged |
| Greenland Capital Management LP 0.00% of their portfolio | 77.0k $5.0k | New |
| Saba Capital Management, L.P. 0.00% of their portfolio | 73.6k $5.7k | Unchanged |
| COWEN AND COMPANY, LLC 0.00% of their portfolio | 66.2k $4.3k | New |
| Ausdal Financial Partners, Inc. 0.00% of their portfolio | 59.8k $3.9k | Unchanged |
| Q Global Advisors, LLC 0.00% of their portfolio | 58.0k $4.0k | Unchanged |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 51.0k $3.3k | Unchanged |
| WOLVERINE ASSET MANAGEMENT LLC 0.00% of their portfolio | 38.6k $2.5k | Added +17.7k |
| Luxor Capital Group, LP 0.00% of their portfolio | 33.2k $2.2k | Reduced -52.5k |
| Federation des caisses Desjardins du Quebec 0.00% of their portfolio | 10.0k $650 | Unchanged |
| UBS Group AG 0.00% of their portfolio | 7.3k $473 | Added +7.2k |
| CLEAR STREET LLC 0.00% of their portfolio | 100 $7 | New |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio | 0 $0 | Unchanged |