Vault-13

ARES ACQUISITION CORPORATION

COM CL A · CUSIP G33032106

64 institutional holders +5 vs Q1 2023
45,255,32845.3m shares reported held*
$478.3mreported value*
12 new 9 added 14 reduced 9 sold out net sold ≈ $2.5m (-240.1k 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 ≈ $10.57. Options: 3 managers hold calls ($473.4k notional), 4 hold puts ($180.8k).

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 119Q4 22: 109Q1 23: 59Q2 23: 6464Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 2022119
Q4 2022109
Q1 202359
Q2 202364

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q4 22: 33 bought or addedQ4 22: 52 cut or sold outQ4 22Q1 23: 25 bought or addedQ1 23: 82 cut or sold outQ1 23Q2 23: 21 bought or addedQ2 23: 23 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 20223352
Q1 20232582
Q2 20232123

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$1m$2m$3m$4mQ3 22 calls: $3.4mQ3 22 puts: $0Q3 22P/C 0.00Q4 22 calls: $395.8kQ4 22 puts: $0Q4 22P/C 0.00Q1 23 calls: $517.1kQ1 23 puts: $378.6kQ1 23P/C 0.73Q2 23 calls: $473.4kQ2 23 puts: $180.8kQ2 23P/C 0.38
Numbers
QuarterCallsPutsP/C
Q3 2022$3.4m$00.00
Q4 2022$395.8k$00.00
Q1 2023$517.1k$378.6k0.73
Q2 2023$473.4k$180.8k0.38

Biggest buyers

First Trust Capital Management L.P. Added +2,350,988+2.4m
COWEN AND COMPANY, LLC Added +1,527,398+1.5m
Castle Creek Arbitrage, LLC New +700,000+700.0k
LEVIN CAPITAL STRATEGIES, L.P. Added +421,150+421.1k
Hudson Bay Capital Management LP New +390,936+390.9k
JPMORGAN CHASE & CO New +349,999+350.0k
Bulldog Investors, LLP New +302,489+302.5k
Flow State Investments, L.P. Added +282,229+282.2k
MIZUHO SECURITIES USA LLC New +240,774+240.8k
MILLENNIUM MANAGEMENT LLC Added +102,296+102.3k

Biggest sellers

BANK OF MONTREAL /CAN/ Sold out -1,408,124-1.4m
BOOTHBAY FUND MANAGEMENT, LLC Reduced -1,042,630-1.0m
Meteora Capital, LLC Reduced -940,805-940.8k
JANE STREET GROUP, LLC Reduced -800,356-800.4k
GLAZER CAPITAL, LLC Reduced -633,714-633.7k
Balyasny Asset Management L.P. Sold out -323,504-323.5k
BERKLEY W R CORP Reduced -290,769-290.8k
PRELUDE CAPITAL MANAGEMENT, LLC Reduced -285,000-285.0k
Owl Creek Asset Management, L.P. Sold out -285,000-285.0k
Cubist Systematic Strategies, LLC Sold out -256,564-256.6k

Biggest calls

Paloma Partners Management Co Unchanged $415.4k39.3k shares
SIMPLEX TRADING, LLC New $58.0k5.5k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP New $124.7k11.8k shares
SIMPLEX TRADING, LLC Added $54.0k5.2k shares
Walleye Capital LLC Unchanged $2.1k200 shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

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.

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 GLAZER CAPITAL, LLC 4.43% of their portfolio New York, NY 6,326,4426.3m $66.9m $66.9m 4.43% Reduced -633.7k -633,714
2 ARISTEIA CAPITAL, L.L.C. 1.25% of their portfolio GREENWICH, CT 3,397,9363.4m $35.9m $35.9m 1.25% Reduced -102.1k -102,064
3 First Trust Capital Management L.P. 1.91% of their portfolio CHICAGO, IL 3,041,3323.0m $32.1m $32.1m 1.91% Added +2.4m +2,350,988
4 Westchester Capital Management, LLC 1.10% of their portfolio VALHALLA, NY 3,001,4263.0m $31.7m $31.7m 1.10% Added +50.0k +50,000
5 COWEN AND COMPANY, LLC 2.48% of their portfolio NEW YORK, NY 2,831,6262.8m $29.9m $29.9m 2.48% Added +1.5m +1,527,398
6 Meteora Capital, LLC 3.75% of their portfolio Boca Raton, FL 1,927,6821.9m $20.4m $20.4m 3.75% Reduced -940.8k -940,805
7 FIR TREE CAPITAL MANAGEMENT LP 1.97% of their portfolio New York, NY 1,898,7961.9m $20.1m $20.1m 1.97% Unchanged
8 Polar Asset Management Partners Inc. 0.39% of their portfolio TORONTO, A6 1,871,3341.9m $19.8m $19.8m 0.39% Unchanged
9 FARALLON CAPITAL MANAGEMENT, L.L.C. 0.09% of their portfolio SAN FRANCISCO, CA 1,425,0001.4m $15.1m $15.1m 0.09% Unchanged
10 MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 1,405,1421.4m $14.9m $14.9m 0.02% Added +102.3k +102,296
11 Atlas Merchant Capital LLC 2.93% of their portfolio New York, NY 1,303,0001.3m $13.8m $13.8m 2.93% Unchanged
12 Sculptor Capital LP 0.34% of their portfolio New York, NY 1,228,7991.2m $13.0m $13.0m 0.34% Unchanged
13 Radcliffe Capital Management, L.P. 1.08% of their portfolio BALA CYNWYD, PA 1,200,1011.2m $12.7m $12.7m 1.08% Unchanged
14 BOOTHBAY FUND MANAGEMENT, LLC 0.33% of their portfolio NEW YORK, NY 997,692997.7k $10.5m $10.5m 0.33% Reduced -1.0m -1,042,630
15 Centiva Capital, LP 0.53% of their portfolio New York, NY 994,122994.1k $10.5m $10.5m 0.53% Reduced -19.8k -19,809
16 HSBC HOLDINGS PLC 0.01% of their portfolio LONDON, X0 829,041829.0k $8.8m $8.8m 0.01% Reduced -131.5k -131,509
17 MOORE CAPITAL MANAGEMENT, LP 0.21% of their portfolio NEW YORK, NY 800,000800.0k $8.5m $8.5m 0.21% Unchanged
18 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 750,000750.0k $7.9m $7.9m 0.00% Reduced -250.0k -250,000
19 Saba Capital Management, L.P. 0.26% of their portfolio NEW YORK, NY 739,568739.6k $7.8m $7.8m 0.26% Unchanged
20 RIVERNORTH CAPITAL MANAGEMENT, LLC 0.38% of their portfolio WEST PALM BEACH, FL 711,306711.3k $7.5m $7.5m 0.38% Reduced -738 -738
21 Castle Creek Arbitrage, LLC 0.92% of their portfolio AVON, CO 700,000700.0k $7.4m $7.4m 0.92% New
22 LMR Partners LLP 0.17% of their portfolio LONDON, X0 700,000700.0k $7.4m $7.4m 0.17% Unchanged
23 PICTON MAHONEY ASSET MANAGEMENT 0.32% of their portfolio Toronto, A6 625,000625.0k $6.6m $6.6m 0.32% Unchanged
24 LEVIN CAPITAL STRATEGIES, L.P. 0.67% of their portfolio NEW YORK, NY 544,072544.1k $5.8m $5.8m 0.67% Added +421.1k +421,150
25 Linden Advisors LP 0.06% of their portfolio New York, NY 534,643534.6k $5.7m $5.7m 0.06% Unchanged
26 Periscope Capital Inc. 0.41% of their portfolio Toronto, A6 500,000500.0k $5.3m $5.3m 0.41% Unchanged
27 Flow State Investments, L.P. 1.79% of their portfolio CHICAGO, IL 401,140401.1k $4.2m $4.2m 1.79% Added +282.2k +282,229
28 KIM, LLC 0.36% of their portfolio WICHITA, KS 400,000400.0k $4.2m $4.2m 0.36% Unchanged
29 AQR Arbitrage LLC 0.18% of their portfolio Greenwich, CT 398,334398.3k $4.2m $4.2m 0.18% Unchanged
30 Hudson Bay Capital Management LP 0.04% of their portfolio STAMFORD, CT 390,936390.9k $4.1m $4.1m 0.04% New
31 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 349,999350.0k $3.7m $3.7m 0.00% New
32 Bulldog Investors, LLP 1.06% of their portfolio SADDLE BROOK, NJ 302,489302.5k $3.2m $3.2m 1.06% New
33 Shaolin Capital Management LLC 0.28% of their portfolio Miami, FL 285,896285.9k $3.0m $3.0m 0.28% Unchanged
34 Boussard & Gavaudan Investment Management LLP 0.27% of their portfolio London, X0 270,000270.0k $2.9m $2.9m 0.27% Reduced -130.0k -130,000
35 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 252,600252.6k $2.7m $2.7m 0.00% Unchanged
36 BERKLEY W R CORP 0.16% of their portfolio Greenwich, CT 249,121249.1k $2.6m $2.6m 0.16% Reduced -290.8k -290,769
37 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 248,848248.8k $2.6m $2.6m 0.00% Reduced -800.4k -800,356
38 MIZUHO SECURITIES USA LLC 0.08% of their portfolio NEW YORK, NY 240,774240.8k $2.5m $2.5m 0.08% New
39 GRITSTONE ASSET MANAGEMENT LLC 2.33% of their portfolio Bethesda, MD 179,498179.5k $1.9m $1.9m 2.33% Reduced -1.0k -1,040
40 Mint Tower Capital Management B.V. 0.17% of their portfolio AMSTERDAM, P7 125,000125.0k $1.3m $1.3m 0.17% Unchanged
41 HRT FINANCIAL LP 0.01% of their portfolio NEW YORK, NY 119,268119.3k $1.3m $1.3m 0.01% Added +3 +3
42 Kepos Capital LP 0.19% of their portfolio NEW YORK, NY 100,000100.0k $1.1m $1.1m 0.19% First filing
43 PRELUDE CAPITAL MANAGEMENT, LLC 0.07% of their portfolio NEW YORK, NY 82,91582.9k $876.4k $876.4k 0.07% Reduced -285.0k -285,000
44 Sandia Investment Management LP 0.26% of their portfolio BOSTON, MA 79,35579.4k $838.8k $838.8k 0.26% Reduced -100.1k -100,125
45 RFG Advisory, LLC 0.03% of their portfolio BIRMINGHAM, AL 66,75966.8k $705.6k $705.6k 0.03% New
46 Sea Otter Advisors LLC 0.49% of their portfolio Miami, FL 60,00060.0k $634.2k $634.2k 0.49% Unchanged
47 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 55,70255.7k $588.8k $588.8k 0.00% New
48 Tyrus Capital S.A.M. 3.71% of their portfolio MONACO, O9 50,00050.0k $528.5k $528.5k 3.71% Unchanged
49 Walleye Capital LLC 0.01% of their portfolio NEW YORK, NY 43,50043.5k $459.8k $459.8k 0.01% Unchanged
50 Verition Fund Management LLC 0.01% of their portfolio GREENWICH, CT 31,89631.9k $337.1k $337.1k 0.01% Unchanged
51 Y-Intercept (Hong Kong) Ltd 0.03% of their portfolio HONG KONG, K3 31,01331.0k $327.8k $327.8k 0.03% New
52 SkyView Investment Advisors, LLC 0.07% of their portfolio SHREWSBURY, NJ 25,00025.0k $264.0k $264.0k 0.07% Unchanged
53 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 22,11422.1k $233.7k $233.7k 0.00% Unchanged
54 CastleKnight Management LP 0.04% of their portfolio New York, NY 19,80019.8k $209.3k $209.3k 0.04% Unchanged
55 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 16,44416.4k $173.8k $173.8k 0.00% New
56 KINGSWOOD WEALTH ADVISORS, LLC 0.05% of their portfolio SAN DIEGO, CA 15,60015.6k $164.9k $164.9k 0.05% First filing
57 Dynamic Technology Lab Private Ltd 0.02% of their portfolio SINGAPORE, U0 14,40314.4k $152.0k $152.0k 0.02% New
58 Walleye Trading LLC 0.01% of their portfolio NEW YORK, NY 13,20013.2k $139.5k $139.5k 0.01% Unchanged
59 Chanos & Co LP 2.26% of their portfolio New York, NY 12,74212.7k $134.7k $134.7k 2.26% Unchanged
60 GSA CAPITAL PARTNERS LLP 0.01% of their portfolio LONDON, X0 10,69210.7k $113.0k $113.0k 0.01% New
61 SIMPLEX TRADING, LLC 0.00% of their portfolio CHICAGO, IL 4,4464.4k $46.0k $46.0k 0.00% Added +92 +92
62 UBS Group AG 0.00% of their portfolio ZURICH, V8 1,6831.7k $17.8k $17.8k 0.00% New
63 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 101101 $1.1k $1.1k 0.00% Added +75 +75
64 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged