ARMADA ACQUISITION CORP III AACIW
*W EXP 02/13/203 · Equity WRT · CUSIP G0R38M119
- SectorBlank check (SPAC)
- IndustryBlank Checks
- FilingsSEC EDGAR
41
institutional holders
+28 vs Q1 2026
9.4m
shares reported held*
$3.0mreported value*
30 new
0 added
3 reduced
2 sold out
net bought ≈ $1.9m (+6.0m 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 ≈ $0.32. Options: 1 managers hold calls ($101.0k notional), 0 hold puts (—).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q1 2026 | 13 |
| Q2 2026 | 41 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
CallsPuts
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $0 | $0 | — |
| Q4 2025 | $0 | $0 | — |
| Q1 2026 | $0 | $0 | — |
| Q2 2026 | $101.0k | $0 | 0.00 |
Biggest buyers
| Linden Advisors LP | New | +700.0k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | New | +550.0k |
| Magnetar Financial LLC | New | +500.0k |
| Polar Asset Management Partners Inc. | New | +457.2k |
| AQR Arbitrage LLC | New | +389.6k |
| Alberta Investment Management Corp | New | +350.0k |
| WHITEBOX ADVISORS LLC | New | +275.0k |
| BNP PARIBAS FINANCIAL MARKETS | New | +268.8k |
| Lineage Point Capital LP | New | +258.8k |
| WOLVERINE ASSET MANAGEMENT LLC | New | +241.4k |
Biggest sellers
| TWO SIGMA INVESTMENTS, LP | Sold out | -203.9k |
| Clear Street Group Inc. | Reduced | -66.7k |
| Meteora Capital, LLC | Reduced | -11.9k |
| RK Capital Management, LLC/FL | Reduced | -1.1k |
| UBS Group AG | Sold out | -10 |
Biggest calls
| MILLENNIUM MANAGEMENT LLC | New | $101.0k306.0k 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.
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
| Manager | Shares | Change |
|---|---|---|
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.00% of their portfolio | 1.0m $334.1k | Unchanged |
| Linden Advisors LP 0.00% of their portfolio | 700.0k $225.8k | New |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.00% of their portfolio | 550.0k $162.2k | New |
| Magnetar Financial LLC 0.00% of their portfolio | 500.0k $161.2k | New |
| Polar Asset Management Partners Inc. 0.00% of their portfolio | 457.2k $150.9k | New |
| Hudson Bay Capital Management LP 0.00% of their portfolio | 450.0k $148.5k | Unchanged |
| AQR Arbitrage LLC 0.00% of their portfolio | 389.6k $109.1k | New |
| TENOR CAPITAL MANAGEMENT Co., L.P. 0.00% of their portfolio | 350.0k $115.5k | Unchanged |
| Alberta Investment Management Corp 0.00% of their portfolio | 350.0k $115.5k | New |
| SONA ASSET MANAGEMENT (US) LLC 0.00% of their portfolio | 325.0k $107.2k | Unchanged |
| WHITEBOX ADVISORS LLC 0.00% of their portfolio | 275.0k $90.8k | New |
| RK Capital Management, LLC/FL 0.00% of their portfolio | 269.0k $85.4k | Reduced -1.1k |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 268.8k $85.4k | New |
| Lineage Point Capital LP 0.02% of their portfolio | 258.8k $82.2k | New |
| WOLVERINE ASSET MANAGEMENT LLC 0.00% of their portfolio | 241.4k $79.7k | New |
| GLAZER CAPITAL, LLC 0.00% of their portfolio | 220.9k $70.0k | New |
| Radcliffe Capital Management, L.P. 0.01% of their portfolio | 212.9k $67.6k | Unchanged |
| Context Capital Management, LLC 0.00% of their portfolio | 200.0k $66.0k | New |
| Schonfeld Strategic Advisors LLC 0.00% of their portfolio | 200.0k $63.5k | New |
| TORONTO DOMINION BANK 0.00% of their portfolio | 195.4k $64.5k | New |
| HEIGHTS CAPITAL MANAGEMENT, INC 0.01% of their portfolio | 179.5k $50.3k | New |
| Kryger Capital LLC 0.00% of their portfolio | 174.7k $57.6k | New |
| RIVERNORTH CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 160.4k $48.1k | New |
| Verition Fund Management LLC 0.00% of their portfolio | 150.1k $42.0k | Unchanged |
| Periscope Capital Inc. 0.01% of their portfolio | 149.9k $47.6k | New |
| Meteora Capital, LLC 0.00% of their portfolio | 138.1k $40.7k | Reduced -11.9k |
| Shaolin Capital Management LLC 0.00% of their portfolio | 119.7k $39.5k | New |
| Wealthspring Capital LLC 0.01% of their portfolio | 114.5k $33.8k | New |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.00% of their portfolio | 100.0k $31.8k | New |
| Cable Car Capital, LP 0.00% of their portfolio | 100.0k $31.8k | New |
| Saba Capital Management, L.P. 0.00% of their portfolio | 99.6k $31.6k | New |
| BERKLEY W R CORP 0.00% of their portfolio | 99.4k $32.1k | Unchanged |
| DLD Asset Management, LP 0.00% of their portfolio | 75.0k $24.8k | New |
| PICTON MAHONEY ASSET MANAGEMENT 0.00% of their portfolio | 62.5k $20.6k | New |
| Kepos Capital LP 0.03% of their portfolio | 60.0k $19.0k | New |
| Mint Tower Capital Management B.V. 0.00% of their portfolio | 50.0k $17.0k | Unchanged |
| Clear Street Group Inc. 0.00% of their portfolio | 41.5k $13.7k | Reduced -66.7k |
| StoneX Group Inc. 0.00% of their portfolio | 34.6k $8.6k | New |
| ABC ARBITRAGE SA 0.00% of their portfolio | 20.0k $6.6k | New |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 14.1k $5.0k | New |
| PenderFund Capital Management Ltd. 0.00% of their portfolio | 8.0k $2.6k | New |