Vault-13

GP-ACT III ACQUISITION CORP GPAT

CL A · Common Stock · CUSIP G4035N103

52 institutional holders +0 vs Q3 2025
28,592,18628.6m shares reported held*
$305.7mreported value*
0 new 10 added 13 reduced 2 sold out net sold ≈ $1.4m (-133.9k 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 ≈ $10.69.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0204060Q3 24: 38Q4 24: 43Q1 25: 41Q2 25: 49Q3 25: 52Q4 25: 5252Q3 24Q4 24Q1 25Q2 25Q3 25Q4 25
Numbers
QuarterHolders
Q3 202438
Q4 202443
Q1 202541
Q2 202549
Q3 202552
Q4 202552

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q4 24: 11 bought or addedQ4 24: 15 cut or sold outQ4 24Q1 25: 7 bought or addedQ1 25: 13 cut or sold outQ1 25Q2 25: 21 bought or addedQ2 25: 12 cut or sold outQ2 25Q3 25: 15 bought or addedQ3 25: 14 cut or sold outQ3 25Q4 25: 10 bought or addedQ4 25: 15 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q4 20241115
Q1 2025713
Q2 20252112
Q3 20251514
Q4 20251015

Calls vs puts

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

CallsPuts
$0$20k$40k$60kQ1 25 calls: $0Q1 25 puts: $0Q1 25P/C —Q2 25 calls: $46.5kQ2 25 puts: $0Q2 25P/C 0.00Q3 25 calls: $39.0kQ3 25 puts: $0Q3 25P/C 0.00Q4 25 calls: $0Q4 25 puts: $0Q4 25P/C —
Numbers
QuarterCallsPutsP/C
Q1 2025$0$0—
Q2 2025$46.5k$00.00
Q3 2025$39.0k$00.00
Q4 2025$0$0—

Biggest buyers

Westchester Capital Management, LLC Added +250,000+250.0k
Meteora Capital, LLC Added +157,689+157.7k
MIZUHO SECURITIES USA LLC Added +119,909+119.9k
Karpus Management, Inc. Added +25,050+25.1k
Shaolin Capital Management LLC Added +25,000+25.0k
BERKLEY W R CORP Added +14,298+14.3k
Cannon Global Investment Management, LLC Added +4,000+4.0k
Verition Fund Management LLC Added +1,500+1.5k
Radcliffe Capital Management, L.P. Added +327+327
MORGAN STANLEY Added +23+23

Biggest sellers

TORONTO DOMINION BANK Reduced -461,649-461.6k
OCONNOR, A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS (LLC) Reduced -100,000-100.0k
Quarry LP Sold out -64,977-65.0k
JPMORGAN CHASE & CO Reduced -49,652-49.7k
Wealthspring Capital LLC Reduced -13,581-13.6k
GLAZER CAPITAL, LLC Reduced -10,000-10.0k
UBS Group AG Reduced -8,926-8.9k
BANK OF AMERICA CORP /DE/ Sold out -8,000-8.0k
HEIGHTS CAPITAL MANAGEMENT, INC Reduced -5,079-5.1k
CITADEL ADVISORS LLC Reduced -3,857-3.9k

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
GP-Act III Sponsor LLC 13G · exempt (held before listing) new · filed 2025-03-07 19.8% new 7.1m≈ $77.3m 2025-03-07
Polar Asset Management Partners Inc. 13G · institution +7.0 pts · filed 2026-06-04 11.1% +7.0 pts 1.8m≈ $19.6m 2026-06-04
AQR CAPITAL MANAGEMENT LLC 13G · institution filed 2026-08-14 8.7% 1.4m≈ $15.2m 2026-08-14
HGC Investment Management Inc. 13G · institution new · filed 2025-02-14 8.6% new 2.5m≈ $26.9m 2025-02-14
METEORA CAPITAL, LLC 13G · institution new · filed 2025-08-14 6.7% new 1.9m≈ $20.9m 2025-08-14
BARCLAYS PLC 13G · institution no change · filed 2025-03-28 5.2% no change 1.5m≈ $16.2m 2025-03-28

Fell to 5% or below in the last year: First Trust Capital Management L.P. (0.0%, 2026-08-14), Karpus Management, Inc. (0.0%, 2026-06-05), PICTON MAHONEY ASSET MANAGEMENT (4.8%, 2026-04-27), BANK OF MONTREAL /CAN/ (0.0%, 2026-02-12)

Insider purchases and sales in Q4 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.

None reported in Q4 2025.

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Karpus Management, Inc. 0.77% of their portfolio Pittsford, NY 2,331,8662.3m $24.9m $24.9m 0.77% Added +25.1k +25,050
2 First Trust Capital Management L.P. 1.35% of their portfolio CHICAGO, IL 2,091,0772.1m $22.4m $22.4m 1.35% Unchanged
3 PICTON MAHONEY ASSET MANAGEMENT 0.22% of their portfolio Toronto, A6 1,875,0001.9m $20.0m $20.0m 0.22% Unchanged
4 Alberta Investment Management Corp 0.10% of their portfolio EDMONTON, A0 1,625,0001.6m $17.4m $17.4m 0.10% Unchanged
5 AQR Arbitrage LLC 0.35% of their portfolio Greenwich, CT 1,576,1191.6m $16.9m $16.9m 0.35% Unchanged
6 D. E. Shaw & Co., Inc. 0.01% of their portfolio New York, NY 1,423,1251.4m $15.2m $15.2m 0.01% Unchanged
7 HGC Investment Management Inc. 3.12% of their portfolio TORONTO, A6 1,375,0001.4m $14.7m $14.7m 3.12% Unchanged
8 Westchester Capital Management, LLC 0.68% of their portfolio VALHALLA, NY 1,360,8521.4m $14.6m $14.6m 0.68% Added +250.0k +250,000
9 MMCAP International Inc. SPC 1.36% of their portfolio GRAND CAYMAN, E9 1,275,0001.3m $13.6m $13.6m 1.36% Unchanged
10 LMR Partners LLP 0.13% of their portfolio LONDON, X0 1,225,0001.2m $13.1m $13.1m 0.13% Unchanged
11 Polar Asset Management Partners Inc. 0.25% of their portfolio TORONTO, A6 1,174,9961.2m $12.6m $12.6m 0.25% Unchanged
12 Wealthspring Capital LLC 2.57% of their portfolio WEST HARRISON, NY 1,018,2821.0m $10.9m $10.9m 2.57% Reduced -13.6k -13,581
13 WOLVERINE ASSET MANAGEMENT LLC 0.14% of their portfolio CHICAGO, IL 951,749951.7k $10.2m $10.2m 0.14% Reduced -3.1k -3,117
14 Linden Advisors LP 0.05% of their portfolio New York, NY 797,584797.6k $8.5m $8.5m 0.05% Unchanged
15 TENOR CAPITAL MANAGEMENT Co., L.P. 0.11% of their portfolio NEW YORK, NY 750,000750.0k $8.0m $8.0m 0.11% Unchanged
16 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 625,000625.0k $6.7m $6.7m 0.01% Unchanged
17 Radcliffe Capital Management, L.P. 0.33% of their portfolio BALA CYNWYD, PA 573,222573.2k $6.1m $6.1m 0.33% Added +327 +327
18 L1 Global Manager Pty Ltd 3.97% of their portfolio Melbourne, C3 567,566567.6k $6.1m $6.1m 3.97% First filing
19 ARISTEIA CAPITAL, L.L.C. 0.15% of their portfolio GREENWICH, CT 490,750490.8k $5.2m $5.2m 0.15% Unchanged
20 RIVERNORTH CAPITAL MANAGEMENT, LLC 0.21% of their portfolio WEST PALM BEACH, FL 420,111420.1k $4.5m $4.5m 0.21% Reduced -821 -821
21 HEIGHTS CAPITAL MANAGEMENT, INC 1.68% of their portfolio SAN FRANCISCO, CA 416,096416.1k $4.5m $4.5m 1.68% Reduced -5.1k -5,079
22 COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.02% of their portfolio HARRISBURG, PA 412,264412.3k $4.4m $4.4m 0.02% Unchanged
23 Meteora Capital, LLC 0.37% of their portfolio Boca Raton, FL 408,719408.7k $4.4m $4.4m 0.37% Added +157.7k +157,689
24 TORONTO DOMINION BANK 0.01% of their portfolio TORONTO, ONTARIO, A6 400,000400.0k $4.3m $4.3m 0.01% Reduced -461.6k -461,649
25 Periscope Capital Inc. 0.71% of their portfolio Toronto, A6 344,000344.0k $3.7m $3.7m 0.71% Unchanged
26 MIZUHO SECURITIES USA LLC 0.06% of their portfolio NEW YORK, NY 319,909319.9k $3.4m $3.4m 0.06% Added +119.9k +119,909
27 BERKLEY W R CORP 0.19% of their portfolio Greenwich, CT 312,290312.3k $3.3m $3.3m 0.19% Added +14.3k +14,298
28 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.01% of their portfolio TORONTO, A6 295,938295.9k $3.2m $3.2m 0.01% Unchanged
29 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 290,000290.0k $3.1m $3.1m 0.00% Unchanged
30 GLAZER CAPITAL, LLC 0.07% of their portfolio New York, NY 250,100250.1k $2.7m $2.7m 0.07% Reduced -10.0k -10,000
31 OCONNOR, A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS (LLC) 0.07% of their portfolio CHICAGO, IL 250,000250.0k $2.7m $2.7m 0.07% Reduced -100.0k -100,000
32 Jain Global LLC 0.03% of their portfolio NEW YORK, NY 250,000250.0k $2.7m $2.7m 0.03% Unchanged
33 Verition Fund Management LLC 0.01% of their portfolio GREENWICH, CT 229,124229.1k $2.5m $2.5m 0.01% Added +1.5k +1,500
34 MOORE CAPITAL MANAGEMENT, LP 0.04% of their portfolio NEW YORK, NY 200,000200.0k $2.1m $2.1m 0.04% Unchanged
35 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 137,739137.7k $1.5m $1.5m 0.00% Reduced -84 -84
36 Shaolin Capital Management LLC 0.05% of their portfolio Miami, FL 125,000125.0k $1.3m $1.3m 0.05% Added +25.0k +25,000
37 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 80,00080.0k $855.2k $855.2k 0.00% Unchanged
38 Lineage Point Capital LP 0.26% of their portfolio PALM BEACH, FL 65,00065.0k $694.9k $694.9k 0.26% First filing
39 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 49,81649.8k $533.0k $533.0k 0.00% Reduced -49.7k -49,652
40 Dakota Wealth Management 0.01% of their portfolio PALM BEACH GARDENS, FL 48,40048.4k $517.4k $517.4k 0.01% Unchanged
41 Kepos Capital LP 2.58% of their portfolio NEW YORK, NY 42,50042.5k $454.0k $454.0k 2.58% Unchanged
42 ROBINSON CAPITAL MANAGEMENT, LLC 0.10% of their portfolio GROSSE POINTE FARMS, MI 22,25022.2k $238.1k $238.1k 0.10% Unchanged
43 Wellspring Financial Advisors, LLC 0.02% of their portfolio CLEVELAND, OH 21,20021.2k $226.6k $226.6k 0.02% Unchanged
44 Schonfeld Strategic Advisors LLC 0.00% of their portfolio NEW YORK, NY 18,05318.1k $193.0k $193.0k 0.00% Reduced -1.1k -1,138
45 TrueMark Investments, LLC 0.03% of their portfolio CHICAGO, IL 16,01716.0k $171.4k $171.4k 0.03% Reduced -821 -821
46 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 14,90914.9k $159.5k $159.5k 0.00% Reduced -3.9k -3,857
47 Cannon Global Investment Management, LLC 0.41% of their portfolio DAVIE, FL 14,50014.5k $155.0k $155.0k 0.41% Added +4.0k +4,000
48 CONDOR CAPITAL MANAGEMENT 0.01% of their portfolio MARTINSVILLE, NJ 10,63210.6k $113.7k $113.7k 0.01% Unchanged
49 Clear Street Group Inc. 0.00% of their portfolio NEW YORK, NY 10,32110.3k $110.3k $110.3k 0.00% Unchanged
50 LONGFELLOW INVESTMENT MANAGEMENT CO LLC 0.02% of their portfolio BOSTON, MA 7,8007.8k $83.4k $83.4k 0.02% Unchanged
51 UBS Group AG 0.00% of their portfolio ZURICH, V8 2,2312.2k $23.8k $23.8k 0.00% Reduced -8.9k -8,926
52 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 7979 $845 $845 0.00% Added +23 +23