Vault-13

ARMADA ACQUISITION CORP III AACI

ORD SHS CL A · Common Stock · CUSIP G0R38M101

48 institutional holders +31 vs Q1 2026
19,793,10819.8m shares reported held*
$197.6mreported value*
32 new 5 added 3 reduced 1 sold out net bought ≈ $129.7m (+13.0m 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 ≈ $9.98.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0204060Q1 26: 17Q2 26: 4848Q1 26Q2 26
Numbers
QuarterHolders
Q1 202617
Q2 202648

Biggest buyers

Linden Advisors LP New +1,400,000+1.4m
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND New +1,100,000+1.1m
WOLVERINE ASSET MANAGEMENT LLC Added +1,009,471+1.0m
Magnetar Financial LLC New +1,000,000+1.0m
Polar Asset Management Partners Inc. New +900,000+900.0k
AQR Arbitrage LLC New +739,995+740.0k
Alberta Investment Management Corp New +700,000+700.0k
GLAZER CAPITAL, LLC New +625,504+625.5k
MILLENNIUM MANAGEMENT LLC New +612,000+612.0k
WHITEBOX ADVISORS LLC New +550,000+550.0k

Biggest sellers

RK Capital Management, LLC/FL Sold out -535,980-536.0k
Meteora Capital, LLC Reduced -147,206-147.2k
Clear Street Group Inc. Reduced -101,670-101.7k
BOOTHBAY FUND MANAGEMENT, LLC Reduced -9-9

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
Armada Sponsor III LLC 13G · exempt (held before listing) new · filed 2026-05-13 25.4% new 8.7m≈ $86.4m 2026-05-13
Adage Capital Management, L.P. 13G · institution new · filed 2026-05-13 7.9% new 2.0m≈ $20.2m 2026-05-13

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 ADAGE CAPITAL PARTNERS GP, L.L.C. 0.03% of their portfolio Boston, MA 2,025,0002.0m $20.2m $20.2m 0.03% Unchanged
2 Linden Advisors LP 0.07% of their portfolio New York, NY 1,400,0001.4m $13.9m $13.9m 0.07% New
3 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.02% of their portfolio TORONTO, A6 1,100,0001.1m $10.9m $10.9m 0.02% New
4 WOLVERINE ASSET MANAGEMENT LLC 0.13% of their portfolio CHICAGO, IL 1,019,8721.0m $10.2m $10.2m 0.13% Added +1.0m +1,009,471
5 Magnetar Financial LLC 0.09% of their portfolio EVANSTON, IL 1,000,0001.0m $9.9m $9.9m 0.09% New
6 Polar Asset Management Partners Inc. 0.16% of their portfolio TORONTO, A6 900,000900.0k $9.0m $9.0m 0.16% New
7 Hudson Bay Capital Management LP 0.04% of their portfolio STAMFORD, CT 900,000900.0k $9.0m $9.0m 0.04% Unchanged
8 AQR Arbitrage LLC 0.10% of their portfolio Greenwich, CT 739,995740.0k $7.4m $7.4m 0.10% New
9 TENOR CAPITAL MANAGEMENT Co., L.P. 0.10% of their portfolio NEW YORK, NY 700,000700.0k $7.0m $7.0m 0.10% Unchanged
10 Alberta Investment Management Corp 0.04% of their portfolio EDMONTON, A0 700,000700.0k $7.0m $7.0m 0.04% New
11 SONA ASSET MANAGEMENT (US) LLC 0.24% of their portfolio NEW YORK, NY 650,000650.0k $6.5m $6.5m 0.24% Unchanged
12 GLAZER CAPITAL, LLC 0.15% of their portfolio New York, NY 625,504625.5k $6.2m $6.2m 0.15% New
13 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 612,000612.0k $6.1m $6.1m 0.00% New
14 WHITEBOX ADVISORS LLC 0.09% of their portfolio MINNEAPOLIS, MN 550,000550.0k $5.5m $5.5m 0.09% New
15 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 537,680537.7k $5.3m $5.3m 0.00% New
16 Radcliffe Capital Management, L.P. 0.32% of their portfolio BALA CYNWYD, PA 426,213426.2k $4.3m $4.3m 0.32% Added +354 +354
17 Schonfeld Strategic Advisors LLC 0.02% of their portfolio NEW YORK, NY 417,507417.5k $4.2m $4.2m 0.02% Added +400.0k +400,007
18 TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio NEW YORK, NY 407,812407.8k $4.1m $4.1m 0.00% Unchanged
19 Context Capital Management, LLC 0.08% of their portfolio LAJOLLA, CA 400,000400.0k $4.0m $4.0m 0.08% New
20 Crossingbridge Advisors, LLC 0.74% of their portfolio PLEASANTVILLE, NY 400,000400.0k $4.2m $4.2m 0.74% New
21 HEIGHTS CAPITAL MANAGEMENT, INC 0.84% of their portfolio SAN FRANCISCO, CA 365,000365.0k $3.6m $3.6m 0.84% New
22 COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.02% of their portfolio HARRISBURG, PA 350,000350.0k $3.5m $3.5m 0.02% New
23 Kryger Capital LLC 0.20% of their portfolio HAMILTON, D0 346,214346.2k $3.5m $3.5m 0.20% New
24 RIVERNORTH CAPITAL MANAGEMENT, LLC 0.15% of their portfolio WEST PALM BEACH, FL 320,798320.8k $3.2m $3.2m 0.15% New
25 Verition Fund Management LLC 0.02% of their portfolio GREENWICH, CT 300,100300.1k $3.0m $3.0m 0.02% Unchanged
26 Periscope Capital Inc. 0.48% of their portfolio Toronto, A6 299,800299.8k $3.0m $3.0m 0.48% New
27 Wealthspring Capital LLC 0.51% of their portfolio WEST HARRISON, NY 229,040229.0k $2.3m $2.3m 0.51% New
28 Cable Car Capital, LP 0.09% of their portfolio SAN FRANCISCO, CA 200,000200.0k $2.0m $2.0m 0.09% New
29 HIGHBRIDGE CAPITAL MANAGEMENT LLC 0.07% of their portfolio NEW YORK, NY 199,544199.5k $2.0m $2.0m 0.07% Added +172.2k +172,241
30 BERKLEY W R CORP 0.10% of their portfolio Greenwich, CT 198,800198.8k $2.0m $2.0m 0.10% Unchanged
31 Shaolin Capital Management LLC 0.09% of their portfolio Miami, FL 162,341162.3k $1.6m $1.6m 0.09% New
32 Meteora Capital, LLC 0.13% of their portfolio Boca Raton, FL 161,094161.1k $1.6m $1.6m 0.13% Reduced -147.2k -147,206
33 DLD Asset Management, LP 0.12% of their portfolio NEW YORK, NY 150,000150.0k $1.5m $1.5m 0.12% New
34 Kepos Capital LP 2.04% of their portfolio NEW YORK, NY 150,000150.0k $1.5m $1.5m 2.04% New
35 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 133,072133.1k $1.3m $1.3m 0.00% New
36 Logan Stone Capital, LLC 0.27% of their portfolio CHICAGO, IL 129,135129.1k $1.3m $1.3m 0.27% New
37 PICTON MAHONEY ASSET MANAGEMENT 0.01% of their portfolio Toronto, A6 124,998125.0k $1.2m $1.2m 0.01% New
38 Mint Tower Capital Management B.V. 0.12% of their portfolio AMSTERDAM, P7 100,000100.0k $999.0k $999.0k 0.12% Unchanged
39 StoneX Group Inc. 0.04% of their portfolio NEW YORK, NY 96,42796.4k $959.0k $959.0k 0.04% New
40 Clear Street Group Inc. 0.00% of their portfolio NEW YORK, NY 84,61484.6k $845.3k $845.3k 0.00% Reduced -101.7k -101,670
41 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 54,04754.0k $540.0k $540.0k 0.00% New
42 ABC ARBITRAGE SA 0.04% of their portfolio PARIS, I0 40,00040.0k $399.6k $399.6k 0.04% New
43 PenderFund Capital Management Ltd. 0.04% of their portfolio VANCOUVER, A1 33,90033.9k $337.3k $337.3k 0.04% New
44 Virtu Financial LLC 0.01% of their portfolio New York, NY 24,88924.9k $248.0k $248.0k 0.01% New
45 BOOTHBAY FUND MANAGEMENT, LLC 0.00% of their portfolio NEW YORK, NY 17,66417.7k $176.5k $176.5k 0.00% Reduced -9 -9
46 TORONTO DOMINION BANK 0.00% of their portfolio TORONTO, ONTARIO, A6 10,00010.0k $99.9k $99.9k 0.00% New
47 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 4545 $450 $450 0.00% Added +33 +33
48 HARBOUR INVESTMENTS, INC. 0.00% of their portfolio MADISON, WI 33 $30 $30 0.00% New