Vault-13

AMERICAN DRIVE ACQUISITION C ADAC

USD CL A ORD SHS · Common Stock · CUSIP G0R91M105

52 institutional holders +7 vs Q1 2026
19,796,98219.8m shares reported held*
$198.4mreported value*
8 new 4 added 6 reduced 1 sold out net bought ≈ $22.4m (+2.2m 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 ≈ $10.02.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0204060Q1 26: 45Q2 26: 5252Q1 26Q2 26
Numbers
QuarterHolders
Q1 202645
Q2 202652

Biggest buyers

MMCAP International Inc. SPC New +1,000,000+1.0m
MILLENNIUM MANAGEMENT LLC New +450,000+450.0k
TIG Advisors, LLC New +400,000+400.0k
COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS New +300,000+300.0k
L1 Global Manager Pty Ltd New +200,000+200.0k
HEIGHTS CAPITAL MANAGEMENT, INC New +50,000+50.0k
MANGROVE PARTNERS IM, LLC New +42,317+42.3k
GLAZER CAPITAL, LLC Added +36,854+36.9k
Kryger Capital LLC Added +30,349+30.3k
TORONTO DOMINION BANK New +14,900+14.9k

Biggest sellers

CSS LLC/IL Reduced -97,799-97.8k
Clear Street Group Inc. Reduced -74,920-74.9k
Shaolin Capital Management LLC Reduced -63,692-63.7k
K2 PRINCIPAL FUND, L.P. Reduced -50,000-50.0k
ROYAL BANK OF CANADA Sold out -13,704-13.7k
ABC ARBITRAGE SA Reduced -5,000-5.0k
WOLVERINE ASSET MANAGEMENT LLC Reduced -244-244

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
Petit Monts LLC 13G · exempt (held before listing) new · filed 2026-02-13 25.4% new 8.3m≈ $83.3m 2026-02-13

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. 0.02% of their portfolio Boston, MA 1,250,0001.2m $12.5m $12.5m 0.02% Unchanged
2 TENOR CAPITAL MANAGEMENT Co., L.P. 0.18% of their portfolio NEW YORK, NY 1,250,0001.2m $12.5m $12.5m 0.18% Unchanged
3 AQR Arbitrage LLC 0.15% of their portfolio Greenwich, CT 1,072,4941.1m $10.7m $10.7m 0.15% Unchanged
4 ARISTEIA CAPITAL, L.L.C. 0.16% of their portfolio GREENWICH, CT 1,016,8001.0m $10.2m $10.2m 0.16% Unchanged
5 MMCAP International Inc. SPC 0.85% of their portfolio GRAND CAYMAN, E9 1,000,0001.0m $10.0m $10.0m 0.85% New
6 Polar Asset Management Partners Inc. 0.18% of their portfolio TORONTO, A6 1,000,0001.0m $10.0m $10.0m 0.18% Unchanged
7 Alberta Investment Management Corp 0.06% of their portfolio EDMONTON, A0 1,000,0001.0m $10.0m $10.0m 0.06% Unchanged
8 Magnetar Financial LLC 0.09% of their portfolio EVANSTON, IL 999,9901,000.0k $10.0m $10.0m 0.09% Unchanged
9 HGC Investment Management Inc. 1.56% of their portfolio TORONTO, A6 786,413786.4k $7.9m $7.9m 1.56% Unchanged
10 PICTON MAHONEY ASSET MANAGEMENT 0.07% of their portfolio Toronto, A6 750,000750.0k $7.5m $7.5m 0.07% Unchanged
11 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.01% of their portfolio TORONTO, A6 660,000660.0k $6.6m $6.6m 0.01% Unchanged
12 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 609,675609.7k $6.1m $6.1m 0.00% Unchanged
13 Radcliffe Capital Management, L.P. 0.46% of their portfolio BALA CYNWYD, PA 600,000600.0k $6.0m $6.0m 0.46% Unchanged
14 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 535,995536.0k $5.4m $5.4m 0.00% Unchanged
15 HBK INVESTMENTS L P 0.06% of their portfolio DALLAS, TX 500,001500.0k $5.0m $5.0m 0.06% Unchanged
16 Linden Advisors LP 0.03% of their portfolio New York, NY 500,000500.0k $5.0m $5.0m 0.03% Unchanged
17 Ghisallo Capital Management LLC 0.10% of their portfolio BOSTON, MA 500,000500.0k $5.0m $5.0m 0.10% Unchanged
18 SONA ASSET MANAGEMENT (US) LLC 0.18% of their portfolio NEW YORK, NY 483,091483.1k $4.8m $4.8m 0.18% Unchanged
19 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 450,000450.0k $4.5m $4.5m 0.00% New
20 GLAZER CAPITAL, LLC 0.11% of their portfolio New York, NY 442,538442.5k $4.4m $4.4m 0.11% Added +36.9k +36,854
21 Context Capital Management, LLC 0.08% of their portfolio LAJOLLA, CA 400,000400.0k $4.0m $4.0m 0.08% Unchanged
22 TIG Advisors, LLC 0.18% of their portfolio New York, NY 400,000400.0k $4.0m $4.0m 0.18% New
23 TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio NEW YORK, NY 362,500362.5k $3.6m $3.6m 0.00% Unchanged
24 COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.01% of their portfolio HARRISBURG, PA 300,000300.0k $3.0m $3.0m 0.01% New
25 WHITEBOX ADVISORS LLC 0.05% of their portfolio MINNEAPOLIS, MN 300,000300.0k $3.0m $3.0m 0.05% Unchanged
26 Mint Tower Capital Management B.V. 0.35% of their portfolio AMSTERDAM, P7 300,000300.0k $3.0m $3.0m 0.35% Unchanged
27 Kryger Capital LLC 0.17% of their portfolio HAMILTON, D0 294,316294.3k $2.9m $2.9m 0.17% Added +30.3k +30,349
28 WOLVERINE ASSET MANAGEMENT LLC 0.03% of their portfolio CHICAGO, IL 200,220200.2k $2.0m $2.0m 0.03% Reduced -244 -244
29 L1 Global Manager Pty Ltd 1.62% of their portfolio Melbourne, C3 200,000200.0k $2.0m $2.0m 1.62% New
30 Shaolin Capital Management LLC 0.11% of their portfolio Miami, FL 186,222186.2k $1.9m $1.9m 0.11% Reduced -63.7k -63,692
31 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 175,326175.3k $1.8m $1.8m 0.00% Unchanged
32 Clear Street Group Inc. 0.00% of their portfolio NEW YORK, NY 123,043123.0k $1.2m $1.2m 0.00% Reduced -74.9k -74,920
33 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 100,000100.0k $1.0m $1.0m 0.00% Unchanged
34 MOORE CAPITAL MANAGEMENT, LP 0.02% of their portfolio NEW YORK, NY 100,000100.0k $1.0m $1.0m 0.02% Unchanged
35 DLD Asset Management, LP 0.08% of their portfolio NEW YORK, NY 100,000100.0k $1.0m $1.0m 0.08% Unchanged
36 Governors Lane LP 0.10% of their portfolio NEW YORK, NY 100,000100.0k $1.0m $1.0m 0.10% Unchanged
37 Centiva Capital, LP 0.03% of their portfolio New York, NY 100,000100.0k $1.0m $1.0m 0.03% Unchanged
38 Hudson Bay Capital Management LP 0.00% of their portfolio STAMFORD, CT 99,999100.0k $1.0m $1.0m 0.00% Unchanged
39 Periscope Capital Inc. 0.16% of their portfolio Toronto, A6 99,60099.6k $998.0k $998.0k 0.16% Unchanged
40 RIVERNORTH CAPITAL MANAGEMENT, LLC 0.04% of their portfolio WEST PALM BEACH, FL 75,00075.0k $757.5k $757.5k 0.04% Unchanged
41 Kepos Capital LP 0.71% of their portfolio NEW YORK, NY 52,00152.0k $521.0k $521.0k 0.71% Unchanged
42 STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio MADISON, WI 50,00050.0k $501.0k $501.0k 0.00% Unchanged
43 HEIGHTS CAPITAL MANAGEMENT, INC 0.12% of their portfolio SAN FRANCISCO, CA 50,00050.0k $501.0k $501.0k 0.12% New
44 K2 PRINCIPAL FUND, L.P. 0.05% of their portfolio TORONTO, A6 50,00050.0k $501.0k $501.0k 0.05% Reduced -50.0k -50,000
45 MANGROVE PARTNERS IM, LLC 0.03% of their portfolio Greenwich, CT 42,31742.3k $424.0k $424.0k 0.03% New
46 ABC ARBITRAGE SA 0.04% of their portfolio PARIS, I0 35,00035.0k $350.7k $350.7k 0.04% Reduced -5.0k -5,000
47 DELTEC ASSET MANAGEMENT LLC 0.04% of their portfolio New York, NY 24,95024.9k $250.0k $250.0k 0.04% Unchanged
48 Karpus Management, Inc. 0.01% of their portfolio Pittsford, NY 22,00022.0k $220.4k $220.4k 0.01% Unchanged
49 PenderFund Capital Management Ltd. 0.02% of their portfolio VANCOUVER, A1 16,65116.7k $166.8k $166.8k 0.02% Added +11.7k +11,651
50 CSS LLC/IL 0.01% of their portfolio CHICAGO, IL 15,89915.9k $159.3k $159.3k 0.01% Reduced -97.8k -97,799
51 TORONTO DOMINION BANK 0.00% of their portfolio TORONTO, ONTARIO, A6 14,90014.9k $149.3k $149.3k 0.00% New
52 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 4141 $411 $411 0.00% Added +30 +30