Vault-13

DRUGS MADE IN AMER ACQUTN CO DMAA

ORD SHS · Common Stock · CUSIP G2847J104

33 institutional holders +8 vs Q1 2025
20,823,19520.8m shares reported held*
62.1% of all shares outstanding*
$212.3mreported value*
10 new 7 added 6 reduced 2 sold out net bought ≈ $32.5m (+758.3k 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. Shares outstanding: 33.5m as of 2025-05-20, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $10.20.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

02040Q1 25: 25Q2 25: 3333Q1 25Q2 25
Numbers
QuarterHolders
Q1 202525
Q2 202533

Biggest buyers

D. E. Shaw & Co., Inc. New +690,000+690.0k
Westchester Capital Management, LLC Added +690,000+690.0k
HEIGHTS CAPITAL MANAGEMENT, INC New +650,000+650.0k
BOOTHBAY FUND MANAGEMENT, LLC New +570,000+570.0k
Karpus Management, Inc. Added +420,075+420.1k
WOLVERINE ASSET MANAGEMENT LLC Added +418,868+418.9k
First Trust Capital Management L.P. Added +175,798+175.8k
Radcliffe Capital Management, L.P. New +126,722+126.7k
CLEAR STREET LLC New +112,615+112.6k
Verition Fund Management LLC New +100,000+100.0k

Biggest sellers

TORONTO DOMINION BANK Reduced -1,710,100-1.7m
Crossingbridge Advisors, LLC Sold out -850,000-850.0k
Quarry LP Sold out -650,000-650.0k
DLD Asset Management, LP Reduced -161,278-161.3k
Schonfeld Strategic Advisors LLC Reduced -50,785-50.8k
ARISTEIA CAPITAL, L.L.C. Reduced -18,284-18.3k
AQR Arbitrage LLC Reduced -4,000-4.0k
GLAZER CAPITAL, LLC Reduced -502-502

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
Drugs Made In America Acquisition LLC 13D · may seek influence new · filed 2025-03-03
Stated purposeThe information set forth in Item 3 above is incorporated into this Item 4 by reference. The Reporting Persons may acquire additional securities of the Issuer, or retain or sell all or a portion of the securities then held, in the open market or in privately negotiated transactions. Lynn Stockwell serves as Chief Executive Officer and Executive Chair of the board of directors of the Issuer, and, in such capacity, may have influence over the corporate activities of the Issuer, including activities which may relate to items described in subparagraphs (a) through (j) of Item 4 of Schedule 13D. Except as described in this Statement, each of the Reporting Person does not have any present plans or proposals that relate to or would result in any of the actions described in subparagraphs (a) thr… Full filing
 12.5% new 4.2m≈ $35.6m 2025-03-03
Karpus Management, Inc. 13G · institution +2.1 pts · filed 2026-08-14 10.3% +2.1 pts 2.5m≈ $26.7m 2026-08-14
MIZUHO FINANCIAL GROUP INC 13G · institution +2.5 pts · filed 2026-08-13 8.5% +2.5 pts 2.1m≈ $21.9m 2026-08-13
Polar Asset Management Partners Inc. 13G · institution new · filed 2025-05-15 5.7% new 1.9m≈ $16.2m 2025-05-15
Feis Equities LLC 13G · passive investor new · filed 2026-06-26 5.1% new 1.2m≈ $13.1m 2026-06-26

Fell to 5% or below in the last year: First Trust Capital Management L.P. (3.2%, 2026-08-14), GLAZER CAPITAL, LLC (4.1%, 2026-08-13)

Insider purchases and sales in Q2 2025

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.

Officers and directors buying vs selling

Number of people, by quarter (10% owners not included)

BuyingSelling
101Q3 23: 0 buyingQ3 23: 0 sellingQ4 23: 0 buyingQ4 23: 0 sellingQ4 23Q1 24: 0 buyingQ1 24: 0 sellingQ2 24: 0 buyingQ2 24: 0 sellingQ2 24Q3 24: 0 buyingQ3 24: 0 sellingQ4 24: 0 buyingQ4 24: 0 sellingQ4 24Q1 25: 1 buyingQ1 25: 1 sellingQ2 25: 0 buyingQ2 25: 0 sellingQ2 25
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q3 20230—0——
Q4 20230—0——
Q1 20240—0——
Q2 20240—0——
Q3 20240—0——
Q4 20240—0——
Q1 20251—1——
Q2 20250—0——

None reported in Q2 2025.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Karpus Management, Inc. 0.90% of their portfolio Pittsford, NY 2,744,1092.7m $28.0m $28.0m 0.90% Added +420.1k +420,075
2 First Trust Capital Management L.P. 1.55% of their portfolio CHICAGO, IL 2,242,5002.2m $22.9m $22.9m 1.55% Added +175.8k +175,798
3 Polar Asset Management Partners Inc. 0.48% of their portfolio TORONTO, A6 1,900,0001.9m $19.4m $19.4m 0.48% Unchanged
4 GLAZER CAPITAL, LLC 0.66% of their portfolio New York, NY 1,822,4501.8m $18.6m $18.6m 0.66% Reduced -502 -502
5 Hudson Bay Capital Management LP 0.12% of their portfolio STAMFORD, CT 1,800,0001.8m $18.4m $18.4m 0.12% Unchanged
6 Westchester Capital Management, LLC 1.00% of their portfolio VALHALLA, NY 1,669,0001.7m $17.0m $17.0m 1.00% Added +690.0k +690,000
7 WOLVERINE ASSET MANAGEMENT LLC 0.17% of their portfolio CHICAGO, IL 1,021,9061.0m $10.4m $10.4m 0.17% Added +418.9k +418,868
8 MIZUHO SECURITIES USA LLC 0.20% of their portfolio NEW YORK, NY 919,787919.8k $9.3m $9.3m 0.20% First filing
9 ARISTEIA CAPITAL, L.L.C. 0.25% of their portfolio GREENWICH, CT 881,716881.7k $9.0m $9.0m 0.25% Reduced -18.3k -18,284
10 D. E. Shaw & Co., Inc. 0.01% of their portfolio New York, NY 690,000690.0k $7.0m $7.0m 0.01% New
11 HEIGHTS CAPITAL MANAGEMENT, INC 2.07% of their portfolio SAN FRANCISCO, CA 650,000650.0k $6.6m $6.6m 2.07% New
12 BOOTHBAY FUND MANAGEMENT, LLC 0.18% of their portfolio NEW YORK, NY 570,000570.0k $5.8m $5.8m 0.18% New
13 ATW SPAC MANAGEMENT LLC 8.90% of their portfolio NEW YORK, NY 570,000570.0k $5.8m $5.8m 8.90% Unchanged
14 TORONTO DOMINION BANK 0.01% of their portfolio TORONTO, ONTARIO, A6 500,000500.0k $5.1m $5.1m 0.01% Reduced -1.7m -1,710,100
15 LMR Partners LLP 0.08% of their portfolio LONDON, X0 500,000500.0k $5.1m $5.1m 0.08% Unchanged
16 WHITEBOX ADVISORS LLC 0.11% of their portfolio MINNEAPOLIS, MN 400,000400.0k $4.1m $4.1m 0.11% Unchanged
17 AQR Arbitrage LLC 0.09% of their portfolio Greenwich, CT 376,314376.3k $3.8m $3.8m 0.09% Reduced -4.0k -4,000
18 MANGROVE PARTNERS IM, LLC 0.38% of their portfolio Greenwich, CT 350,000350.0k $3.6m $3.6m 0.38% Unchanged
19 DLD Asset Management, LP 0.23% of their portfolio NEW YORK, NY 188,722188.7k $1.9m $1.9m 0.23% Reduced -161.3k -161,278
20 Schonfeld Strategic Advisors LLC 0.01% of their portfolio NEW YORK, NY 149,215149.2k $1.5m $1.5m 0.01% Reduced -50.8k -50,785
21 Radcliffe Capital Management, L.P. 0.10% of their portfolio BALA CYNWYD, PA 126,722126.7k $1.3m $1.3m 0.10% New
22 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 119,686119.7k $1.2m $1.2m 0.00% Unchanged
23 CLEAR STREET LLC 0.01% of their portfolio NEW YORK, NY 112,615112.6k $1.1m $1.1m 0.01% New
24 Verition Fund Management LLC 0.01% of their portfolio GREENWICH, CT 100,000100.0k $1.0m $1.0m 0.01% New
25 Shaolin Capital Management LLC 0.04% of their portfolio Miami, FL 100,000100.0k $1.0m $1.0m 0.04% New
26 Warberg Asset Management LLC 0.23% of their portfolio WINNETKA, IL 92,05592.1k $939.0k $939.0k 0.23% Unchanged
27 Bulldog Investors, LLP 0.19% of their portfolio SADDLE BROOK, NJ 72,96473.0k $744.2k $744.2k 0.19% New
28 Logan Stone Capital, LLC 0.29% of their portfolio CHICAGO, IL 60,99161.0k $622.1k $622.1k 0.29% New
29 Virtu Financial LLC 0.02% of their portfolio New York, NY 46,68546.7k $476.0k $476.0k 0.02% Added +14.9k +14,908
30 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 45,64845.6k $465.6k $465.6k 0.00% Added +186 +186
31 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 109109 $1.1k $1.1k 0.00% Added +89 +89
32 UBS Group AG 0.00% of their portfolio ZURICH, V8 11 $10 $10 0.00% New
33 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged