Vault-13

AMERICAN EXCEPTIONALISM ACQU AEXA

ORD CL A · Common Stock · CUSIP G0273J101

81 institutional holders -2 vs Q1 2026
28,682,69428.7m shares reported held*
$339.0mreported value*
4 new 17 added 19 reduced 6 sold out net bought ≈ $456.4k (+38.6k 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 ≈ $11.82. Options: 9 managers hold calls ($12.1m notional), 0 hold puts (—).

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

050100Q3 25: 68Q4 25: 81Q1 26: 83Q2 26: 8181Q3 25Q4 25Q1 26Q2 26
Numbers
QuarterHolders
Q3 202568
Q4 202581
Q1 202683
Q2 202681

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q4 25: 33 bought or addedQ4 25: 36 cut or sold outQ4 25Q1 26: 28 bought or addedQ1 26: 31 cut or sold outQ1 26Q2 26: 21 bought or addedQ2 26: 25 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q4 20253336
Q1 20262831
Q2 20262125

Calls vs puts

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

CallsPuts
$0$5m$10m$15mQ3 25 calls: $0Q3 25 puts: $0Q3 25P/C —Q4 25 calls: $2.3mQ4 25 puts: $57.3kQ4 25P/C 0.02Q1 26 calls: $10.4mQ1 26 puts: $0Q1 26P/C 0.00Q2 26 calls: $12.1mQ2 26 puts: $0Q2 26P/C 0.00
Numbers
QuarterCallsPutsP/C
Q3 2025$0$0—
Q4 2025$2.3m$57.3k0.02
Q1 2026$10.4m$00.00
Q2 2026$12.1m$00.00

Biggest buyers

MYDA Advisors LLC Added +725,285+725.3k
BERKLEY W R CORP Added +326,620+326.6k
TORONTO DOMINION BANK Added +191,476+191.5k
GROUP ONE TRADING LLC New +170,921+170.9k
GRAHAM CAPITAL WEALTH MANAGEMENT, LLC Added +117,439+117.4k
FNY Investment Advisers, LLC Added +74,246+74.2k
K2 PRINCIPAL FUND, L.P. Added +52,600+52.6k
DLD Asset Management, LP Added +46,563+46.6k
CITADEL ADVISORS LLC Added +46,465+46.5k
Garde Capital, Inc. Added +32,557+32.6k

Biggest sellers

Lighthouse Investment Partners, LLC Reduced -465,000-465.0k
HIGHBRIDGE CAPITAL MANAGEMENT LLC Reduced -459,087-459.1k
ADAR1 Capital Management, LLC Reduced -152,131-152.1k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -139,651-139.7k
Empyrean Capital Partners, LP Reduced -130,000-130.0k
Governors Lane LP Reduced -95,000-95.0k
Shaolin Capital Management LLC Reduced -82,609-82.6k
Waratah Capital Advisors Ltd. Sold out -80,062-80.1k
Harraden Circle Investments, LLC Reduced -72,600-72.6k
Saba Capital Management, L.P. Reduced -61,134-61.1k

Biggest calls

JANE STREET GROUP, LLC Added $2.7m226.3k shares
SIMPLEX TRADING, LLC Reduced $2.1m179.1k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $1.9m159.3k shares
K2 PRINCIPAL FUND, L.P. Added $1.8m154.2k shares
GROUP ONE TRADING LLC Reduced $1.6m134.3k shares
CITADEL ADVISORS LLC Reduced $1.2m105.7k shares
IMC-Chicago, LLC Added $430.2k36.4k shares
T3 Companies, LLC Added $327.2k335.9k shares
FNY Investment Advisers, LLC New $18.0k1.6k 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.

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
AEXA Sponsor LLC 13G · exempt (held before listing) new · filed 2025-11-14 29.6% new 14.7m≈ $173.3m 2025-11-14

Fell to 5% or below in the last year: GOLDMAN SACHS GROUP INC (4.2%, 2026-08-14)

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.

None reported since 1 Apr 2026.

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 ExodusPoint Capital Management, LP 0.18% of their portfolio NEW YORK, NY 1,645,0001.6m $19.4m $19.4m 0.18% Unchanged
2 D. E. Shaw & Co., Inc. 0.01% of their portfolio New York, NY 1,200,0001.2m $14.2m $14.2m 0.01% Unchanged
3 MOORE CAPITAL MANAGEMENT, LP 0.32% of their portfolio NEW YORK, NY 1,200,0001.2m $14.2m $14.2m 0.32% Unchanged
4 MYDA Advisors LLC 3.38% of their portfolio WOODMERE, NY 1,175,2851.2m $13.9m $13.9m 3.38% Added +725.3k +725,285
5 Empyrean Capital Partners, LP 0.46% of their portfolio LOS ANGELES, CA 1,100,0001.1m $13.0m $13.0m 0.46% Reduced -130.0k -130,000
6 Magnetar Financial LLC 0.12% of their portfolio EVANSTON, IL 1,100,0001.1m $13.0m $13.0m 0.12% Unchanged
7 Alberta Investment Management Corp 0.07% of their portfolio EDMONTON, A0 1,100,0001.1m $13.0m $13.0m 0.07% Unchanged
8 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.02% of their portfolio TORONTO, A6 1,100,0001.1m $13.0m $13.0m 0.02% Unchanged
9 Philosophy Capital Management LLC 1.14% of their portfolio Alamo, CA 1,004,3671.0m $11.9m $11.9m 1.14% Unchanged
10 GRAHAM CAPITAL WEALTH MANAGEMENT, LLC 8.58% of their portfolio WASHINGTON, DC 939,343939.3k $11.1m $11.1m 8.58% Added +117.4k +117,439
11 Allianz Asset Management GmbH 0.01% of their portfolio MUNICH, 2M 900,000900.0k $10.6m $10.6m 0.01% Unchanged
12 BlueCrest Capital Management Ltd 0.45% of their portfolio ST HELIER, Y9 881,386881.4k $10.4m $10.4m 0.45% Unchanged
13 Sculptor Capital LP 0.10% of their portfolio New York, NY 844,667844.7k $10.0m $10.0m 0.10% Unchanged
14 Harraden Circle Investments, LLC 1.23% of their portfolio NEW YORK, NY 813,400813.4k $9.6m $9.6m 1.23% Reduced -72.6k -72,600
15 Linden Advisors LP 0.05% of their portfolio New York, NY 757,850757.9k $9.0m $9.0m 0.05% Unchanged
16 AQR Arbitrage LLC 0.13% of their portfolio Greenwich, CT 752,895752.9k $8.9m $8.9m 0.13% Added +8.4k +8,434
17 BERKLEY W R CORP 0.43% of their portfolio Greenwich, CT 747,779747.8k $8.8m $8.8m 0.43% Added +326.6k +326,620
18 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 738,505738.5k $8.7m $8.7m 0.01% Unchanged
19 Governors Lane LP 0.86% of their portfolio NEW YORK, NY 725,990726.0k $8.6m $8.6m 0.86% Reduced -95.0k -95,000
20 MMCAP International Inc. SPC 0.63% of their portfolio GRAND CAYMAN, E9 631,494631.5k $7.5m $7.5m 0.63% Unchanged
21 PICTON MAHONEY ASSET MANAGEMENT 0.06% of their portfolio Toronto, A6 550,000550.0k $6.5m $6.5m 0.06% Unchanged
22 HIGHBRIDGE CAPITAL MANAGEMENT LLC 0.22% of their portfolio NEW YORK, NY 541,213541.2k $6.4m $6.4m 0.22% Reduced -459.1k -459,087
23 BOOTHBAY FUND MANAGEMENT, LLC 0.11% of their portfolio NEW YORK, NY 502,257502.3k $5.9m $5.9m 0.11% Reduced -12.5k -12,500
24 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 459,876459.9k $5.4m $5.4m 0.00% Added +22.7k +22,734
25 Goodlander Investment Management, LLC 1.46% of their portfolio DALLAS, TX 410,565410.6k $4.9m $4.9m 1.46% Added +1.1k +1,096
26 Radcliffe Capital Management, L.P. 0.33% of their portfolio BALA CYNWYD, PA 366,382366.4k $4.3m $4.3m 0.33% Unchanged
27 HBK INVESTMENTS L P 0.05% of their portfolio DALLAS, TX 350,000350.0k $4.1m $4.1m 0.05% Unchanged
28 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 339,180339.2k $4.0m $4.0m 0.00% Reduced -139.7k -139,651
29 J. Goldman & Co LP 0.13% of their portfolio NEW YORK, NY 315,000315.0k $3.7m $3.7m 0.13% Unchanged
30 TORONTO DOMINION BANK 0.01% of their portfolio TORONTO, ONTARIO, A6 311,476311.5k $3.7m $3.7m 0.01% Added +191.5k +191,476
31 TENOR CAPITAL MANAGEMENT Co., L.P. 0.05% of their portfolio NEW YORK, NY 300,000300.0k $3.5m $3.5m 0.05% Unchanged
32 BOUSSARD & GAVAUDAN GESTION SAS 0.16% of their portfolio PARIS, I0 275,000275.0k $3.2m $3.2m 0.16% First filing
33 Shaolin Capital Management LLC 0.18% of their portfolio Miami, FL 267,391267.4k $3.2m $3.2m 0.18% Reduced -82.6k -82,609
34 Garde Capital, Inc. 0.14% of their portfolio SEATTLE, WA 266,790266.8k $3.2m $3.2m 0.14% Added +32.6k +32,557
35 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 260,500260.5k $3.1m $3.1m 0.00% Unchanged
36 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 246,377246.4k $2.9m $2.9m 0.00% Unchanged
37 K2 PRINCIPAL FUND, L.P. 0.26% of their portfolio TORONTO, A6 237,265237.3k $2.8m $2.8m 0.26% Added +52.6k +52,600
38 ADAR1 Capital Management, LLC 0.11% of their portfolio AUSTIN, TX 205,408205.4k $2.4m $2.4m 0.11% Reduced -152.1k -152,131
39 HRT FINANCIAL LP 0.01% of their portfolio NEW YORK, NY 199,640199.6k $2.4m $2.4m 0.01% Reduced -180 -180
40 Balyasny Asset Management L.P. 0.00% of their portfolio Chicago, IL 196,366196.4k $2.3m $2.3m 0.00% Unchanged
41 Lighthouse Investment Partners, LLC 0.07% of their portfolio Palm Beach Gardens, FL 185,000185.0k $2.2m $2.2m 0.07% Reduced -465.0k -465,000
42 Massar Capital Management, LP 0.70% of their portfolio STAMFORD, CT 173,723173.7k $2.1m $2.1m 0.70% Reduced -5.3k -5,253
43 GROUP ONE TRADING LLC 0.06% of their portfolio CHICAGO, IL 170,921170.9k $2.0m $2.0m 0.06% New
44 Context Capital Management, LLC 0.04% of their portfolio LAJOLLA, CA 170,000170.0k $2.0m $2.0m 0.04% Unchanged
45 Periscope Capital Inc. 0.30% of their portfolio Toronto, A6 160,000160.0k $1.9m $1.9m 0.30% Unchanged
46 DLD Asset Management, LP 0.15% of their portfolio NEW YORK, NY 158,404158.4k $1.9m $1.9m 0.15% Added +46.6k +46,563
47 Wealthspring Capital LLC 0.40% of their portfolio WEST HARRISON, NY 150,000150.0k $1.8m $1.8m 0.40% Unchanged
48 Polar Asset Management Partners Inc. 0.03% of their portfolio TORONTO, A6 129,924129.9k $1.5m $1.5m 0.03% Unchanged
49 SYQUANT CAPITAL SAS 0.33% of their portfolio PARIS, I0 125,000125.0k $1.5m $1.5m 0.33% Unchanged
50 LMR Partners LLP 0.01% of their portfolio LONDON, X0 106,315106.3k $1.3m $1.3m 0.01% Unchanged
51 FNY Investment Advisers, LLC 0.44% of their portfolio NEW YORK, NY 102,046102.0k $1.2m $1.2m 0.44% Added +74.2k +74,246
52 ARISTEIA CAPITAL, L.L.C. 0.02% of their portfolio GREENWICH, CT 83,46483.5k $986.5k $986.5k 0.02% Unchanged
53 MATAURO, LLC 0.13% of their portfolio NEW YORK, NY 82,97483.0k $980.8k $980.8k 0.13% Reduced -17.6k -17,579
54 Schonfeld Strategic Advisors LLC 0.00% of their portfolio NEW YORK, NY 78,15078.2k $923.7k $923.7k 0.00% Reduced -26.4k -26,436
55 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 77,71577.7k $918.6k $918.6k 0.00% Added +46.5k +46,465
56 Saba Capital Management, L.P. 0.03% of their portfolio NEW YORK, NY 70,65670.7k $835.2k $835.2k 0.03% Reduced -61.1k -61,134
57 Brevan Howard Capital Management LP 0.01% of their portfolio ST. HELIER, Y9 70,00070.0k $827.0k $827.0k 0.01% Reduced -30.0k -30,000
58 Marex Group Ltd 0.01% of their portfolio London, X0 63,02563.0k $745.0k $745.0k 0.01% Added +5.5k +5,465
59 Lineage Point Capital LP 0.15% of their portfolio PALM BEACH, FL 60,13260.1k $710.8k $710.8k 0.15% Added +6.6k +6,611
60 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 57,36057.4k $678.0k $678.0k 0.00% Added +900 +900
61 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 52,25052.2k $617.6k $617.6k 0.00% Reduced -2.4k -2,350
62 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 50,18150.2k $593.1k $593.1k 0.00% Added +14.7k +14,711
63 First Trust Capital Management L.P. 0.03% of their portfolio CHICAGO, IL 50,00050.0k $591.0k $591.0k 0.03% Unchanged
64 GRITSTONE ASSET MANAGEMENT LLC 0.57% of their portfolio Bethesda, MD 50,00050.0k $591.0k $591.0k 0.57% Unchanged
65 O'Connor Alternative Investments LLC 0.04% of their portfolio NEW YORK, NY 50,00050.0k $591.0k $591.0k 0.04% Unchanged
66 Clear Street Group Inc. 0.00% of their portfolio NEW YORK, NY 30,00030.0k $354.6k $354.6k 0.00% Unchanged
67 T3 Companies, LLC 0.35% of their portfolio NEW YORK, NY 26,05426.1k $308.0k $308.0k 0.35% Reduced -96 -96
68 Walleye Capital LLC 0.00% of their portfolio NEW YORK, NY 24,70024.7k $292.0k $292.0k 0.00% Added +14.5k +14,500
69 Virtu Financial LLC 0.01% of their portfolio New York, NY 24,34924.3k $288.0k $288.0k 0.01% New
70 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 22,52622.5k $266.3k $266.3k 0.00% New
71 DELTEC ASSET MANAGEMENT LLC 0.03% of their portfolio New York, NY 20,00020.0k $236.4k $236.4k 0.03% Unchanged
72 Clearline Capital LP 0.01% of their portfolio NEW YORK, NY 16,14616.1k $190.8k $190.8k 0.01% Unchanged
73 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 13,91213.9k $164.4k $164.4k 0.00% Reduced -26 -26
74 HGC Investment Management Inc. 0.02% of their portfolio TORONTO, A6 10,00010.0k $118.2k $118.2k 0.02% Unchanged
75 Aventura Private Wealth, LLC 0.01% of their portfolio AVENTURA, FL 2,5512.6k $30.2k $30.2k 0.01% Unchanged
76 NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio MONTREAL, A8 2,1002.1k $24.8k $24.8k 0.00% Unchanged
77 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 1,1291.1k $13.0k $13.0k 0.00% Reduced -289 -289
78 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 1,0001.0k $11.8k $11.8k 0.00% Unchanged
79 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 1,0001.0k $11.8k $11.8k 0.00% Unchanged
80 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 670670 $7.9k $7.9k 0.00% New
81 Dauntless Investment Group, LLC 0.01% of their portfolio Milford, MI 670670 $7.9k $7.9k 0.01% Unchanged