Vault-13

ARES ACQUISITION CORP II KDK

SHS CLASS A · Common Stock · CUSIP G33033104

59 institutional holders +5 vs Q1 2024
41,736,24941.7m shares reported held*
$445.3mreported value*
9 new 10 added 15 reduced 4 sold out net sold ≈ $50.4m (-4.7m 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 ($9.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $10.67.

Trends to Q2 2024

Institutional holders

Managers reporting a position, each quarter

0204060Q2 23: 40Q3 23: 59Q4 23: 57Q1 24: 54Q2 24: 5959Q2 23Q3 23Q4 23Q1 24Q2 24
Numbers
QuarterHolders
Q2 202340
Q3 202359
Q4 202357
Q1 202454
Q2 202459

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q3 23: 33 bought or addedQ3 23: 11 cut or sold outQ3 23Q4 23: 16 bought or addedQ4 23: 21 cut or sold outQ4 23Q1 24: 14 bought or addedQ1 24: 22 cut or sold outQ1 24Q2 24: 19 bought or addedQ2 24: 19 cut or sold outQ2 24
Numbers
QuarterBought or addedCut or sold out
Q3 20233311
Q4 20231621
Q1 20241422
Q2 20241919

Biggest buyers

COWEN AND COMPANY, LLC Added +3,000,331+3.0m
Karpus Management, Inc. Added +1,442,917+1.4m
BERKLEY W R CORP Added +1,301,567+1.3m
Driehaus Capital Management LLC New +500,000+500.0k
Sculptor Capital LP Added +492,185+492.2k
Shaolin Capital Management LLC New +300,000+300.0k
KIM, LLC Added +225,100+225.1k
WOLVERINE ASSET MANAGEMENT LLC Added +125,060+125.1k
K2 PRINCIPAL FUND, L.P. New +101,494+101.5k
D. E. Shaw & Co., Inc. Added +100,000+100.0k

Biggest sellers

HGC Investment Management Inc. Reduced -8,781,504-8.8m
Polar Asset Management Partners Inc. Reduced -1,000,000-1.0m
Radcliffe Capital Management, L.P. Reduced -449,828-449.8k
Periscope Capital Inc. Reduced -449,230-449.2k
Schechter Investment Advisors, LLC Reduced -448,476-448.5k
Dryden Capital, LLC Reduced -350,000-350.0k
Exos Asset Management LLC Sold out -309,600-309.6k
CAPSTONE INVESTMENT ADVISORS, LLC Sold out -300,000-300.0k
MIZUHO SECURITIES USA LLC Reduced -251,955-252.0k
Crossingbridge Advisors, LLC Reduced -56,200-56.2k

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
METEORA CAPITAL, LLC 13G · institution new · filed 2025-08-14 7.8% new 4.8m 2025-08-14
Alyeska Investment Group, L.P. 13G · institution new · filed 2025-08-14 7.7% new 4.8m 2025-08-14
BARCLAYS PLC 13G · institution no change · filed 2025-03-21 7.1% no change 3.5m 2025-03-21
MIZUHO FINANCIAL GROUP INC 13G · institution new · filed 2025-05-13 6.3% new 3.1m 2025-05-13
Westchester Capital Management, LLC 13G · institution -1.7 pts · filed 2025-08-14 6.2% -1.7 pts 3.8m 2025-08-14

Fell to 5% or below in the last year: BERKLEY W R CORP (0.0%, 2026-08-05), Fort Baker Capital Management LP (0.0%, 2025-11-14)

Insider purchases and sales in Q2 2024

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 in Q2 2024.

Holders, Q2 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Schechter Investment Advisors, LLC 2.94% of their portfolio BIRMINGHAM, MI 3,661,8673.7m $39.1m $39.1m 2.94% Reduced -448.5k -448,476
2 COWEN AND COMPANY, LLC 0.98% of their portfolio NEW YORK, NY 3,308,2313.3m $35.3m $35.3m 0.98% Added +3.0m +3,000,331
3 Karpus Management, Inc. 0.91% of their portfolio Pittsford, NY 3,033,1673.0m $32.4m $32.4m 0.91% Added +1.4m +1,442,917
4 Linden Advisors LP 0.20% of their portfolio New York, NY 2,200,0002.2m $23.5m $23.5m 0.20% Unchanged
5 AQR Arbitrage LLC 0.61% of their portfolio Greenwich, CT 2,199,9992.2m $23.5m $23.5m 0.61% Unchanged
6 KIM, LLC 2.51% of their portfolio WICHITA, KS 2,188,7002.2m $23.4m $23.4m 2.51% Added +225.1k +225,100
7 PICTON MAHONEY ASSET MANAGEMENT 0.90% of their portfolio Toronto, A6 1,984,0002.0m $21.2m $21.2m 0.90% Unchanged
8 ARISTEIA CAPITAL, L.L.C. 0.76% of their portfolio GREENWICH, CT 1,910,3421.9m $20.4m $20.4m 0.76% Unchanged
9 First Trust Capital Management L.P. 1.84% of their portfolio CHICAGO, IL 1,895,2331.9m $20.2m $20.2m 1.84% Reduced -10 -10
10 Westchester Capital Management, LLC 0.71% of their portfolio VALHALLA, NY 1,557,3551.6m $16.6m $16.6m 0.71% Unchanged
11 D. E. Shaw & Co., Inc. 0.02% of their portfolio New York, NY 1,513,5001.5m $16.1m $16.1m 0.02% Added +100.0k +100,000
12 BERKLEY W R CORP 0.90% of their portfolio Greenwich, CT 1,509,0231.5m $16.1m $16.1m 0.90% Added +1.3m +1,301,567
13 Polar Asset Management Partners Inc. 0.38% of their portfolio TORONTO, A6 1,394,3171.4m $14.9m $14.9m 0.38% Reduced -1.0m -1,000,000
14 MARSHALL WACE, LLP 0.02% of their portfolio LONDON, X0 1,199,9981.2m $12.8m $12.8m 0.02% Unchanged
15 TWO SIGMA INVESTMENTS, LP 0.03% of their portfolio NEW YORK, NY 1,125,0001.1m $12.0m $12.0m 0.03% Unchanged
16 HGC Investment Management Inc. 4.82% of their portfolio TORONTO, A6 981,504981.5k $10.5m $10.5m 4.82% Reduced -8.8m -8,781,504
17 GLAZER CAPITAL, LLC 0.77% of their portfolio New York, NY 927,293927.3k $9.9m $9.9m 0.77% Reduced -5.8k -5,755
18 Wealthspring Capital LLC 11.39% of their portfolio WEST HARRISON, NY 917,884917.9k $9.8m $9.8m 11.39% Added +41.2k +41,182
19 Periscope Capital Inc. 2.91% of their portfolio Toronto, A6 750,000750.0k $8.0m $8.0m 2.91% Reduced -449.2k -449,230
20 Dryden Capital, LLC 12.13% of their portfolio MIAMI, FL 670,000670.0k $7.1m $7.1m 12.13% Reduced -350.0k -350,000
21 Sculptor Capital LP 0.12% of their portfolio New York, NY 527,417527.4k $5.6m $5.6m 0.12% Added +492.2k +492,185
22 Driehaus Capital Management LLC 0.05% of their portfolio Chicago, IL 500,000500.0k $5.3m $5.3m 0.05% New
23 Hudson Bay Capital Management LP 0.04% of their portfolio STAMFORD, CT 500,000500.0k $5.3m $5.3m 0.04% Unchanged
24 MOORE CAPITAL MANAGEMENT, LP 0.12% of their portfolio NEW YORK, NY 500,000500.0k $5.3m $5.3m 0.12% Unchanged
25 Ghisallo Capital Management LLC 0.46% of their portfolio BOSTON, MA 497,596497.6k $5.3m $5.3m 0.46% Unchanged
26 Verition Fund Management LLC 0.04% of their portfolio GREENWICH, CT 470,000470.0k $5.0m $5.0m 0.04% Unchanged
27 COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.03% of their portfolio HARRISBURG, PA 401,000401.0k $4.3m $4.3m 0.03% Added +50.0k +50,000
28 RIVERNORTH CAPITAL MANAGEMENT, LLC 0.20% of their portfolio WEST PALM BEACH, FL 400,203400.2k $4.3m $4.3m 0.20% Unchanged
29 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 400,000400.0k $4.3m $4.3m 0.00% Unchanged
30 Kepos Capital LP 1.55% of their portfolio NEW YORK, NY 375,000375.0k $4.0m $4.0m 1.55% Unchanged
31 Bulldog Investors, LLP 1.45% of their portfolio SADDLE BROOK, NJ 363,762363.8k $3.9m $3.9m 1.45% Reduced -33.7k -33,706
32 Boussard & Gavaudan Investment Management LLP 0.51% of their portfolio London, X0 300,000300.0k $3.2m $3.2m 0.51% Unchanged
33 Shaolin Capital Management LLC 0.10% of their portfolio Miami, FL 300,000300.0k $3.2m $3.2m 0.10% New
34 Crossingbridge Advisors, LLC 1.58% of their portfolio PLEASANTVILLE, NY 250,000250.0k $2.7m $2.7m 1.58% Reduced -56.2k -56,200
35 Flow State Investments, L.P. 0.81% of their portfolio CHICAGO, IL 240,487240.5k $2.6m $2.6m 0.81% Unchanged
36 TORONTO DOMINION BANK 0.00% of their portfolio TORONTO, ONTARIO, A6 200,000200.0k $2.1m $2.1m 0.00% Unchanged
37 Radcliffe Capital Management, L.P. 0.42% of their portfolio BALA CYNWYD, PA 200,000200.0k $2.1m $2.1m 0.42% Reduced -449.8k -449,828
38 OCONNOR, A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS (LLC) 0.05% of their portfolio CHICAGO, IL 170,767170.8k $1.8m $1.8m 0.05% Unchanged
39 WOLVERINE ASSET MANAGEMENT LLC 0.03% of their portfolio CHICAGO, IL 125,143125.1k $1.3m $1.3m 0.03% Added +125.1k +125,060
40 Virtu Financial LLC 0.09% of their portfolio New York, NY 118,148118.1k $1.3m $1.3m 0.09% Added +8.3k +8,324
41 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 107,420107.4k $1.1m $1.1m 0.00% Reduced -14.4k -14,400
42 K2 PRINCIPAL FUND, L.P. 0.24% of their portfolio TORONTO, A6 101,494101.5k $1.1m $1.1m 0.24% New
43 DELTEC ASSET MANAGEMENT LLC 0.20% of their portfolio New York, NY 100,000100.0k $1.1m $1.1m 0.20% Unchanged
44 TENOR CAPITAL MANAGEMENT Co., L.P. 0.02% of their portfolio NEW YORK, NY 100,000100.0k $1.1m $1.1m 0.02% Unchanged
45 MIZUHO SECURITIES USA LLC 0.02% of their portfolio NEW YORK, NY 98,40098.4k $1.0m $1.0m 0.02% Reduced -252.0k -251,955
46 BCK CAPITAL MANAGEMENT LP 0.51% of their portfolio STAMFORD, CT 74,26774.3k $792.4k $792.4k 0.51% Unchanged
47 FIR TREE CAPITAL MANAGEMENT LP 0.53% of their portfolio New York, NY 69,68269.7k $743.5k $743.5k 0.53% Reduced -1.7k -1,675
48 CONDOR CAPITAL MANAGEMENT 0.05% of their portfolio MARTINSVILLE, NJ 49,63849.6k $529.6k $529.6k 0.05% Reduced -3.4k -3,419
49 ROBINSON CAPITAL MANAGEMENT, LLC 0.14% of their portfolio GROSSE POINTE FARMS, MI 37,04037.0k $394.8k $394.8k 0.14% New
50 LEVIN CAPITAL STRATEGIES, L.P. 0.04% of their portfolio NEW YORK, NY 33,39033.4k $356.3k $356.3k 0.04% Unchanged
51 Trexquant Investment LP 0.00% of their portfolio STAMFORD, CT 28,20828.2k $301.0k $301.0k 0.00% New
52 Tidal Investments LLC 0.00% of their portfolio Milwaukee, WI 25,04025.0k $267.2k $267.2k 0.00% New
53 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 19,21519.2k $205.0k $205.0k 0.00% New
54 TrueMark Investments, LLC 0.07% of their portfolio CHICAGO, IL 18,47118.5k $197.1k $197.1k 0.07% Unchanged
55 FIRETHORN WEALTH PARTNERS, LLC 0.07% of their portfolio AUGUSTA, GA 12,30912.3k $131.3k $131.3k 0.07% Reduced -5.1k -5,115
56 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 10,16810.2k $108.5k $108.5k 0.00% New
57 Clear Street Derivatives LLC 0.00% of their portfolio NEW YORK, NY 1,9602.0k $20.9k $20.9k 0.00% Unchanged
58 UBS Group AG 0.00% of their portfolio ZURICH, V8 495495 $5.3k $5.3k 0.00% New
59 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged