Vault-13

GRAF GLOBAL CORP TONT

ORD SHS CL A · Common Stock · CUSIP G4036C106

40 institutional holders +1 vs Q4 2024
19,347,69019.3m shares reported held*
$204.4mreported value*
3 new 4 added 7 reduced 2 sold out net bought ≈ $2.3m (+220.7k 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 ($1.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $10.56.

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

02040Q3 24: 31Q4 24: 39Q1 25: 4040Q3 24Q4 24Q1 25
Numbers
QuarterHolders
Q3 202431
Q4 202439
Q1 202540

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q4 24: 17 bought or addedQ4 24: 15 cut or sold outQ4 24Q1 25: 7 bought or addedQ1 25: 9 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q4 20241715
Q1 202579

Biggest buyers

Westchester Capital Management, LLC Added +213,957+214.0k
WOLVERINE ASSET MANAGEMENT LLC Added +72,577+72.6k
DLD Asset Management, LP New +48,223+48.2k
Periscope Capital Inc. Added +22,500+22.5k
TORONTO DOMINION BANK Added +13,494+13.5k
CITADEL ADVISORS LLC New +12,145+12.1k
MORGAN STANLEY New +400+400

Biggest sellers

Schechter Investment Advisors, LLC Reduced -42,350-42.4k
FIR TREE CAPITAL MANAGEMENT LP Sold out -30,885-30.9k
StoneX Group Inc. Sold out -27,990-28.0k
Bulldog Investors, LLP Reduced -25,620-25.6k
Wealthspring Capital LLC Reduced -20,000-20.0k
CLEAR STREET LLC Reduced -12,675-12.7k
Karpus Management, Inc. Reduced -1,400-1.4k
GRITSTONE ASSET MANAGEMENT LLC Reduced -1,363-1.4k
Verition Fund Management LLC Reduced -300-300

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
Fort Baker Capital Management LP 13G · institution +2.4 pts · filed 2026-08-14 8.9% +2.4 pts 1.3m≈ $13.6m 2026-08-14
BARCLAYS PLC 13G · institution +2.7 pts · filed 2026-05-14 7.0% +2.7 pts 1.6m≈ $17.5m 2026-05-14
METEORA CAPITAL, LLC 13G · institution new · filed 2026-08-14 7.0% new 988.7k 2026-08-14
LMR Partners LLP 13G · institution new · filed 2026-08-14 6.9% new 980.0k≈ $10.6m 2026-08-14
Magnetar Financial LLC 13G · institution filed 2026-08-13 6.0% 850.0k≈ $9.2m 2026-08-13
Polar Asset Management Partners Inc. 13G · institution +2.1 pts · filed 2026-08-14 5.6% +2.1 pts 800.0k≈ $8.7m 2026-08-14

Fell to 5% or below in the last year: Harraden Circle Investments, LLC (2.0%, 2026-09-08), HIGHBRIDGE CAPITAL MANAGEMENT LLC (0.0%, 2026-08-14), Linden Capital L.P. (0.0%, 2026-08-14), AQR CAPITAL MANAGEMENT LLC (0.0%, 2026-08-13), GOLDMAN SACHS GROUP INC (4.8%, 2026-08-11), First Trust Capital Management L.P. (4.5%, 2026-05-15)

Insider purchases and sales in Q1 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 Q1 2025.

Holders, Q1 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 First Trust Capital Management L.P. 1.54% of their portfolio CHICAGO, IL 2,073,9162.1m $21.3m $21.3m 1.54% Unchanged
2 AQR Arbitrage LLC 0.38% of their portfolio Greenwich, CT 1,533,3781.5m $15.7m $15.7m 0.38% Unchanged
3 HIGHBRIDGE CAPITAL MANAGEMENT LLC 0.68% of their portfolio NEW YORK, NY 1,500,0001.5m $15.4m $15.4m 0.68% Unchanged
4 Linden Advisors LP 0.10% of their portfolio New York, NY 1,500,0001.5m $15.4m $15.4m 0.10% Unchanged
5 Polar Asset Management Partners Inc. 0.51% of their portfolio TORONTO, A6 1,500,0001.5m $15.4m $15.4m 0.51% Unchanged
6 RIVERNORTH CAPITAL MANAGEMENT, LLC 0.60% of their portfolio WEST PALM BEACH, FL 1,100,0001.1m $11.3m $11.3m 0.60% Unchanged
7 PICTON MAHONEY ASSET MANAGEMENT 0.35% of their portfolio Toronto, A6 1,004,2801.0m $10.3m $10.3m 0.35% Unchanged
8 LMR Partners LLP 0.20% of their portfolio LONDON, X0 980,000980.0k $10.0m $10.0m 0.20% Unchanged
9 D. E. Shaw & Co., Inc. 0.01% of their portfolio New York, NY 972,579972.6k $10.0m $10.0m 0.01% Unchanged
10 MMCAP International Inc. SPC 1.45% of their portfolio GRAND CAYMAN, E9 830,000830.0k $8.5m $8.5m 1.45% Unchanged
11 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 676,022676.0k $6.9m $6.9m 0.00% Unchanged
12 Schechter Investment Advisors, LLC 0.54% of their portfolio BIRMINGHAM, MI 645,970646.0k $6.6m $6.6m 0.54% Reduced -42.4k -42,350
13 ARISTEIA CAPITAL, L.L.C. 0.19% of their portfolio GREENWICH, CT 600,000600.0k $6.2m $6.2m 0.19% Unchanged
14 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 500,000500.0k $5.1m $5.1m 0.01% Unchanged
15 Verition Fund Management LLC 0.03% of their portfolio GREENWICH, CT 450,772450.8k $4.6m $4.6m 0.03% Reduced -300 -300
16 TENOR CAPITAL MANAGEMENT Co., L.P. 0.06% of their portfolio NEW YORK, NY 400,000400.0k $4.1m $4.1m 0.06% Unchanged
17 WOLVERINE ASSET MANAGEMENT LLC 0.08% of their portfolio CHICAGO, IL 388,042388.0k $4.0m $4.0m 0.08% Added +72.6k +72,577
18 COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.02% of their portfolio HARRISBURG, PA 351,180351.2k $3.6m $3.6m 0.02% Unchanged
19 Bulldog Investors, LLP 0.75% of their portfolio SADDLE BROOK, NJ 272,386272.4k $2.8m $2.8m 0.75% Reduced -25.6k -25,620
20 WHITEBOX ADVISORS LLC 0.08% of their portfolio MINNEAPOLIS, MN 250,000250.0k $2.6m $2.6m 0.08% Unchanged
21 BERKLEY W R CORP 0.19% of their portfolio Greenwich, CT 248,226248.2k $2.5m $2.5m 0.19% Unchanged
22 Periscope Capital Inc. 1.41% of their portfolio Toronto, A6 247,500247.5k $2.5m $2.5m 1.41% Added +22.5k +22,500
23 Karpus Management, Inc. 0.08% of their portfolio Pittsford, NY 245,975246.0k $2.5m $2.5m 0.08% Reduced -1.4k -1,400
24 TORONTO DOMINION BANK 0.01% of their portfolio TORONTO, ONTARIO, A6 233,291233.3k $2.4m $2.4m 0.01% Added +13.5k +13,494
25 Westchester Capital Management, LLC 0.13% of their portfolio VALHALLA, NY 214,057214.1k $2.2m $2.2m 0.13% Added +214.0k +213,957
26 GRITSTONE ASSET MANAGEMENT LLC 1.93% of their portfolio Bethesda, MD 179,603179.6k $1.8m $1.8m 1.93% Reduced -1.4k -1,363
27 Wealthspring Capital LLC 2.19% of their portfolio WEST HARRISON, NY 138,900138.9k $1.4m $1.4m 2.19% Reduced -20.0k -20,000
28 DELTEC ASSET MANAGEMENT LLC 0.22% of their portfolio New York, NY 100,000100.0k $1.0m $1.0m 0.22% Unchanged
29 MOORE CAPITAL MANAGEMENT, LP 0.03% of their portfolio NEW YORK, NY 100,000100.0k $1.0m $1.0m 0.03% Unchanged
30 Schonfeld Strategic Advisors LLC 0.01% of their portfolio NEW YORK, NY 100,000100.0k $1.0m $1.0m 0.01% Unchanged
31 DLD Asset Management, LP 0.07% of their portfolio NEW YORK, NY 48,22348.2k $494.3k $494.3k 0.07% New
32 Kepos Capital LP 0.25% of their portfolio NEW YORK, NY 30,00030.0k $307.0k $307.0k 0.25% Unchanged
33 TrueMark Investments, LLC 0.05% of their portfolio CHICAGO, IL 20,00020.0k $204.8k $204.8k 0.05% Unchanged
34 ROBINSON CAPITAL MANAGEMENT, LLC 0.05% of their portfolio GROSSE POINTE FARMS, MI 12,25012.2k $125.3k $125.3k 0.05% Unchanged
35 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 12,14512.1k $124.5k $124.5k 0.00% New
36 CONDOR CAPITAL MANAGEMENT 0.01% of their portfolio MARTINSVILLE, NJ 10,50010.5k $107.4k $107.4k 0.01% Unchanged
37 PenderFund Capital Management Ltd. 1.98% of their portfolio VANCOUVER, A1 10,00010.0k $6.3m $6.3m 1.98% Unchanged
38 CLEAR STREET LLC 0.00% of their portfolio NEW YORK, NY 6,9957.0k $71.7k $71.7k 0.00% Reduced -12.7k -12,675
39 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 400400 $4.1k $4.1k 0.00% New
40 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged