Vault-13

ARMADA ACQUISITION CORP II

COM CL A · CUSIP G0R38G104

66 institutional holders +2 vs Q1 2026
26,576,25926.6m shares reported held*
$276.8mreported value*
5 new 11 added 18 reduced 3 sold out net bought ≈ $11.9m (+1.1m 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.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0255075Q2 25: 34Q3 25: 49Q4 25: 64Q1 26: 64Q2 26: 6666Q2 25Q3 25Q4 25Q1 26Q2 26
Numbers
QuarterHolders
Q2 202534
Q3 202549
Q4 202564
Q1 202664
Q2 202666

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q3 25: 27 bought or addedQ3 25: 16 cut or sold outQ3 25Q4 25: 32 bought or addedQ4 25: 19 cut or sold outQ4 25Q1 26: 20 bought or addedQ1 26: 24 cut or sold outQ1 26Q2 26: 16 bought or addedQ2 26: 21 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 20252716
Q4 20253219
Q1 20262024
Q2 20261621

Biggest buyers

MIZUHO SECURITIES USA LLC Added +774,922+774.9k
RIVERNORTH CAPITAL MANAGEMENT, LLC New +502,222+502.2k
RLH Capital LLC Added +294,470+294.5k
HIGHBRIDGE CAPITAL MANAGEMENT LLC Added +268,424+268.4k
Quarry LP Added +175,000+175.0k
Cambridge Investment Research Advisors, Inc. Added +119,410+119.4k
Crossingbridge Advisors, LLC New +110,000+110.0k
Shaolin Capital Management LLC Added +67,393+67.4k
COMMONWEALTH EQUITY SERVICES, LLC Added +37,044+37.0k
Qube Research & Technologies Ltd New +22,642+22.6k

Biggest sellers

Meteora Capital, LLC Reduced -295,581-295.6k
TORONTO DOMINION BANK Reduced -249,725-249.7k
DLD Asset Management, LP Reduced -174,130-174.1k
Walleye Capital LLC Sold out -140,000-140.0k
Verition Fund Management LLC Reduced -119,149-119.1k
Diametric Capital, LP Sold out -57,499-57.5k
Clear Street Group Inc. Reduced -41,702-41.7k
Periscope Capital Inc. Reduced -40,200-40.2k
CITADEL ADVISORS LLC Reduced -31,090-31.1k
GLAZER CAPITAL, LLC Reduced -17,484-17.5k

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
Arrington XRP Capital Fund, LP 13D · may seek influence new · filed 2025-09-08
Stated purposeSponsor Handover As announced in the Issuer's Form 8-K filed with the Securities and Exchange Commission (the "SEC") on August 12, 2025, Armada Sponsor II LLC (the "Original Sponsor") and Arrington XRP Capital Fund, LP (the "New Sponsor") entered into a Sponsor Securities Purchase Agreement (the "Sponsor Securities Purchase Agreement") pursuant to which, among other things, the New Sponsor agreed to purchase from the Original Sponsor, an aggregate of 7,880,000 Class B Shares, 400,000 Class A Shares and 200,000 private placement warrants of the Company for an aggregate purchase price of $6,600,000. On August 28, 2025, the parties closed (the "Closing") the transactions contemplated by the Sponsor Securities Purchase Agreement. The Closing and the Management Change (as defined below) are re… Full filing
 26.2% new 8.3m≈ $86.3m 2025-09-08
METEORA CAPITAL, LLC 13G · institution -1.2 pts · filed 2026-08-14 8.4% -1.2 pts 2.0m≈ $20.7m 2026-08-14
BERKLEY W R CORP 13G · institution new · filed 2026-05-08 5.2% new 1.2m≈ $12.9m 2026-05-08

Fell to 5% or below in the last year: Harraden Circle Investments, LLC (0.0%, 2026-02-13)

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Arrington Capital Management, LLC 67.10% of their portfolio MIAMI, FL 5,796,0005.8m $60.4m $60.4m 67.10% Unchanged
2 TENOR CAPITAL MANAGEMENT Co., L.P. 0.32% of their portfolio NEW YORK, NY 2,185,0002.2m $22.8m $22.8m 0.32% Unchanged
3 Meteora Capital, LLC 1.72% of their portfolio Boca Raton, FL 1,985,6592.0m $20.7m $20.7m 1.72% Reduced -295.6k -295,581
4 BERKLEY W R CORP 0.63% of their portfolio Greenwich, CT 1,233,7351.2m $12.9m $12.9m 0.63% Unchanged
5 MIZUHO SECURITIES USA LLC 0.12% of their portfolio NEW YORK, NY 1,233,1941.2m $12.7m $12.7m 0.12% Added +774.9k +774,922
6 AQR Arbitrage LLC 0.16% of their portfolio Greenwich, CT 1,067,8031.1m $11.1m $11.1m 0.16% Added +11.2k +11,224
7 Westchester Capital Management, LLC 0.44% of their portfolio VALHALLA, NY 833,400833.4k $8.7m $8.7m 0.44% Unchanged
8 Magnetar Financial LLC 0.08% of their portfolio EVANSTON, IL 814,266814.3k $8.5m $8.5m 0.08% Unchanged
9 Linden Advisors LP 0.04% of their portfolio New York, NY 800,000800.0k $8.3m $8.3m 0.04% Unchanged
10 LMR Partners LLP 0.06% of their portfolio LONDON, X0 800,000800.0k $8.3m $8.3m 0.06% Unchanged
11 RLH Capital LLC 3.78% of their portfolio Great Neck, NY 757,278757.3k $7.9m $7.9m 3.78% Added +294.5k +294,470
12 Polar Asset Management Partners Inc. 0.12% of their portfolio TORONTO, A6 635,835635.8k $6.6m $6.6m 0.12% Unchanged
13 WOLVERINE ASSET MANAGEMENT LLC 0.08% of their portfolio CHICAGO, IL 566,567566.6k $5.9m $5.9m 0.08% Reduced -7.4k -7,432
14 HIGHBRIDGE CAPITAL MANAGEMENT LLC 0.19% of their portfolio NEW YORK, NY 543,153543.2k $5.7m $5.7m 0.19% Added +268.4k +268,424
15 RIVERNORTH CAPITAL MANAGEMENT, LLC 0.25% of their portfolio WEST PALM BEACH, FL 502,222502.2k $5.3m $5.3m 0.25% New
16 ARISTEIA CAPITAL, L.L.C. 0.08% of their portfolio GREENWICH, CT 500,000500.0k $5.2m $5.2m 0.08% Unchanged
17 Quarry LP 0.79% of their portfolio NEW YORK, NY 482,137482.1k $5.0m $5.0m 0.79% Added +175.0k +175,000
18 Radcliffe Capital Management, L.P. 0.37% of their portfolio BALA CYNWYD, PA 463,845463.8k $4.8m $4.8m 0.37% Reduced -2.9k -2,944
19 First Trust Capital Management L.P. 0.28% of their portfolio CHICAGO, IL 458,864458.9k $4.8m $4.8m 0.28% Unchanged
20 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 454,850454.9k $4.7m $4.7m 0.00% Unchanged
21 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 365,976366.0k $3.8m $3.8m 0.00% Unchanged
22 Context Capital Management, LLC 0.07% of their portfolio LAJOLLA, CA 350,000350.0k $3.6m $3.6m 0.07% Unchanged
23 Shaolin Capital Management LLC 0.16% of their portfolio Miami, FL 267,393267.4k $2.8m $2.8m 0.16% Added +67.4k +67,393
24 Karpus Management, Inc. 0.08% of their portfolio Pittsford, NY 253,925253.9k $2.6m $2.6m 0.08% Reduced -5.4k -5,375
25 TORONTO DOMINION BANK 0.00% of their portfolio TORONTO, ONTARIO, A6 250,275250.3k $2.6m $2.6m 0.00% Reduced -249.7k -249,725
26 Mint Tower Capital Management B.V. 0.31% of their portfolio AMSTERDAM, P7 250,000250.0k $2.6m $2.6m 0.31% Unchanged
27 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 215,686215.7k $2.2m $2.2m 0.00% Added +119.4k +119,410
28 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 213,482213.5k $2.2m $2.2m 0.00% Added +37.0k +37,044
29 WHITEBOX ADVISORS LLC 0.03% of their portfolio MINNEAPOLIS, MN 200,000200.0k $2.1m $2.1m 0.03% Unchanged
30 MOORE CAPITAL MANAGEMENT, LP 0.05% of their portfolio NEW YORK, NY 200,000200.0k $2.1m $2.1m 0.05% Unchanged
31 PICTON MAHONEY ASSET MANAGEMENT 0.02% of their portfolio Toronto, A6 200,000200.0k $2.1m $2.1m 0.02% Unchanged
32 GLAZER CAPITAL, LLC 0.05% of their portfolio New York, NY 183,368183.4k $1.9m $1.9m 0.05% Reduced -17.5k -17,484
33 HEIGHTS CAPITAL MANAGEMENT, INC 0.43% of their portfolio SAN FRANCISCO, CA 176,886176.9k $1.8m $1.8m 0.43% Reduced -14.4k -14,381
34 Cable Car Capital, LP 0.07% of their portfolio SAN FRANCISCO, CA 150,000150.0k $1.6m $1.6m 0.07% Unchanged
35 O'Connor Alternative Investments LLC 0.11% of their portfolio NEW YORK, NY 150,000150.0k $1.6m $1.6m 0.11% Unchanged
36 Hudson Bay Capital Management LP 0.01% of their portfolio STAMFORD, CT 119,564119.6k $1.2m $1.2m 0.01% Reduced -7.6k -7,622
37 Crossingbridge Advisors, LLC 0.20% of their portfolio PLEASANTVILLE, NY 110,000110.0k $1.1m $1.1m 0.20% New
38 Verition Fund Management LLC 0.01% of their portfolio GREENWICH, CT 101,364101.4k $1.1m $1.1m 0.01% Reduced -119.1k -119,149
39 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 90,00090.0k $937.8k $937.8k 0.00% Reduced -10.0k -10,000
40 Periscope Capital Inc. 0.14% of their portfolio Toronto, A6 84,80084.8k $883.6k $883.6k 0.14% Reduced -40.2k -40,200
41 Clear Street Group Inc. 0.00% of their portfolio NEW YORK, NY 84,72584.7k $882.8k $882.8k 0.00% Reduced -41.7k -41,702
42 BOOTHBAY FUND MANAGEMENT, LLC 0.02% of their portfolio NEW YORK, NY 83,66083.7k $871.7k $871.7k 0.02% Reduced -12.4k -12,450
43 CSS LLC/IL 0.03% of their portfolio CHICAGO, IL 70,06870.1k $730.1k $730.1k 0.03% Unchanged
44 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 50,54050.5k $526.6k $526.6k 0.00% Reduced -21 -21
45 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 40,50340.5k $422.0k $422.0k 0.00% Unchanged
46 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 35,17535.2k $366.0k $366.0k 0.00% Reduced -6.9k -6,875
47 DLD Asset Management, LP 0.02% of their portfolio NEW YORK, NY 25,00025.0k $260.5k $260.5k 0.02% Reduced -174.1k -174,130
48 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 22,64222.6k $235.9k $235.9k 0.00% New
49 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 21,52421.5k $224.3k $224.3k 0.00% Unchanged
50 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 19,89419.9k $207.3k $207.3k 0.00% Reduced -5.5k -5,537
51 Virtu Financial LLC 0.01% of their portfolio New York, NY 18,74018.7k $195.0k $195.0k 0.01% Added +178 +178
52 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 18,30318.3k $190.7k $190.7k 0.00% Reduced -31.1k -31,090
53 Mann Financial Group, Inc. 0.11% of their portfolio DETROIT LAKES, MN 12,45012.4k $129.7k $129.7k 0.11% Unchanged
54 Western Wealth Management, LLC 0.00% of their portfolio GOLDEN, CO 11,46511.5k $119.5k $119.5k 0.00% New
55 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 3,1003.1k $32.3k $32.3k 0.00% Added +2.5k +2,500
56 HUNTINGTON NATIONAL BANK 0.00% of their portfolio COLUMBUS, OH 3,0013.0k $31.3k $31.3k 0.00% Unchanged
57 Purpose Unlimited Inc. 0.00% of their portfolio TORONTO, A6 2,8002.8k $29.1k $29.1k 0.00% Unchanged
58 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 1,9752.0k $20.0k $20.0k 0.00% Unchanged
59 FNY Investment Advisers, LLC 0.00% of their portfolio NEW YORK, NY 1,2001.2k $12.0k $12.0k 0.00% Added +210 +210
60 CENTRAL TRUST Co 0.00% of their portfolio JEFFERSON CITY, MO 1,0001.0k $10.4k $10.4k 0.00% Unchanged
61 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 975975 $10.2k $10.2k 0.00% Unchanged
62 Glass Jacobson Investment Advisors llc 0.00% of their portfolio OWINGS MILLS, MD 582582 $6.1k $6.1k 0.00% Unchanged
63 EverSource Wealth Advisors, LLC 0.00% of their portfolio BIRMINGHAM, AL 250250 $2.6k $2.6k 0.00% Unchanged
64 Creative Capital Management Investments LLC 0.00% of their portfolio SAN DIEGO, CA 100100 $1.0k $1.0k 0.00% Unchanged
65 Global Retirement Partners, LLC 0.00% of their portfolio San Rafael, CA 5050 $521 $521 0.00% First filing
66 UBS Group AG 0.00% of their portfolio ZURICH, V8 1010 $104 $104 0.00% New