HCM II ACQUISITION CORP IMSR
SHS CL A · Common Stock · CUSIP G43658106
- SectorIndustrials
- IndustryFabricated Plate Work (Boiler Shops)
- HeadquartersCharlotte, NC
- FilingsSEC EDGAR
* 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 ≈ $11.15. Options: 1 managers hold calls ($360.2k notional), 0 hold puts (—).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q4 2024 | 36 |
| Q1 2025 | 46 |
| Q2 2025 | 66 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2025 | 21 | 23 |
| Q2 2025 | 35 | 31 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $0 | $0 | — |
| Q4 2024 | $0 | $0 | — |
| Q1 2025 | $0 | $0 | — |
| Q2 2025 | $360.2k | $0 | 0.00 |
Biggest buyers
| Vennlight Capital Management, LP | New | +1.0m |
| Arosa Capital Management LP | New | +560.0k |
| Shay Capital LLC | New | +548.3k |
| PEAK6 LLC | New | +506.7k |
| Balyasny Asset Management L.P. | Added | +479.9k |
| CANTOR FITZGERALD, L. P. | New | +466.3k |
| MYDA Advisors LLC | New | +300.0k |
| Governors Lane LP | New | +300.0k |
| DLD Asset Management, LP | Added | +239.2k |
| SCOGGIN MANAGEMENT LP | New | +200.0k |
Biggest sellers
| AQR Arbitrage LLC | Sold out | -1.3m |
| Encompass Capital Advisors LLC | Sold out | -946.2k |
| PICTON MAHONEY ASSET MANAGEMENT | Reduced | -837.9k |
| First Trust Capital Management L.P. | Reduced | -677.8k |
| Magnetar Financial LLC | Reduced | -562.0k |
| TWO SIGMA INVESTMENTS, LP | Sold out | -500.0k |
| Westchester Capital Management, LLC | Reduced | -470.8k |
| LMR Partners LLP | Reduced | -470.4k |
| Context Capital Management, LLC | Reduced | -245.2k |
| Athos Capital Ltd | Sold out | -200.0k |
Biggest calls
| DLD Asset Management, LP | New | $360.2k153.3k shares |
Biggest puts
| None |
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.
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.
| Holder | Stake |
|---|---|
| Linden Capital L.P. 13G · passive investor new · filed 2025-03-31 | 8.7% |
| BARCLAYS PLC 13G · institution no change · filed 2025-03-21 | 6.2% |
| Magnetar Financial LLC 13G · institution filed 2025-08-08 | 6.1% |
| CITADEL ADVISORS LLC 13G · passive investor new · filed 2025-09-30 | 5.4% |
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.
None reported in Q2 2025.
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| Linden Advisors LP 0.13% of their portfolio | 1.9m $21.6m | Reduced -50.0k |
| Magnetar Financial LLC 0.08% of their portfolio | 1.4m $16.5m | Reduced -562.0k |
| First Trust Capital Management L.P. 0.79% of their portfolio | 1.1m $11.7m | Reduced -677.8k |
| Vennlight Capital Management, LP 12.52% of their portfolio | 1.0m $11.4m | New |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 970.0k $10.8m | Unchanged |
| MMCAP International Inc. SPC 1.28% of their portfolio | 962.1k $10.7m | Reduced -17.9k |
| PICTON MAHONEY ASSET MANAGEMENT 0.15% of their portfolio | 942.1k $10.5m | Reduced -837.9k |
| LMR Partners LLP 0.16% of their portfolio | 941.3k $10.4m | Reduced -470.4k |
| Arosa Capital Management LP 4.54% of their portfolio | 560.0k $6.2m | New |
| Shay Capital LLC 1.39% of their portfolio | 548.3k $6.1m | New |
| Balyasny Asset Management L.P. 0.01% of their portfolio | 544.9k $6.0m | Added +479.9k |
| PEAK6 LLC 0.10% of their portfolio | 506.7k $5.6m | New |
| Calamos Advisors LLC 0.02% of their portfolio | 500.0k $5.5m | Unchanged |
| DLD Asset Management, LP 0.62% of their portfolio | 468.8k $5.2m | Added +239.2k |
| CANTOR FITZGERALD, L. P. 0.13% of their portfolio | 466.3k $5.2m | New |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 435.1k $4.8m | Reduced -183.7k |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.02% of their portfolio | 406.0k $4.5m | Unchanged |
| RIVERNORTH CAPITAL MANAGEMENT, LLC 0.25% of their portfolio | 400.0k $4.4m | Unchanged |
| BERKLEY W R CORP 0.27% of their portfolio | 398.0k $4.4m | Added +100.8k |
| Senator Investment Group LP 0.15% of their portfolio | 340.0k $3.8m | Not comparable |
| WHITEBOX ADVISORS LLC 0.10% of their portfolio | 318.9k $3.5m | Reduced -81.1k |
| MYDA Advisors LLC 0.93% of their portfolio | 300.0k $3.3m | New |
| Governors Lane LP 0.46% of their portfolio | 300.0k $3.3m | New |
| Polar Asset Management Partners Inc. 0.07% of their portfolio | 257.3k $2.9m | Reduced -98.5k |
| HRT FINANCIAL LP 0.01% of their portfolio | 230.1k $2.6m | Added +130.7k |
| SCOGGIN MANAGEMENT LP 1.03% of their portfolio | 200.0k $2.2m | New |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 200.0k $2.2m | Unchanged |
| Westchester Capital Management, LLC 0.13% of their portfolio | 199.7k $2.2m | Reduced -470.8k |
| J. Goldman & Co LP 0.06% of their portfolio | 176.2k $2.0m | New |
| GRITSTONE ASSET MANAGEMENT LLC 1.91% of their portfolio | 173.8k $1.9m | Reduced -50.0k |
| Verition Fund Management LLC 0.01% of their portfolio | 150.0k $1.7m | Reduced -32.6k |
| Mint Tower Capital Management B.V. 0.24% of their portfolio | 144.9k $1.6m | Unchanged |
| TENOR CAPITAL MANAGEMENT Co., L.P. 0.02% of their portfolio | 143.0k $1.6m | Reduced -32.0k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 121.4k $1.3m | New |
| Bulldog Investors, LLP 0.32% of their portfolio | 113.3k $1.3m | Reduced -162.6k |
| WEXFORD CAPITAL LP 0.31% of their portfolio | 100.0k $1.1m | New |
| DELTEC ASSET MANAGEMENT LLC 0.20% of their portfolio | 100.0k $1.1m | Reduced -15.0k |
| Massar Capital Management, LP 0.83% of their portfolio | 100.0k $1.1m | New |
| Hidden Lake Asset Management LP 0.54% of their portfolio | 99.4k $1.1m | New |
| Periscope Capital Inc. 0.36% of their portfolio | 85.0k $943.5k | Reduced -70.0k |
| WOLVERINE ASSET MANAGEMENT LLC 0.02% of their portfolio | 83.9k $930.9k | Reduced -170.2k |
| BLUEFIN CAPITAL MANAGEMENT, LLC 0.64% of their portfolio | 74.7k $828.8k | New |
| MORGAN STANLEY 0.00% of their portfolio | 71.0k $787.8k | Added +51.0k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 69.7k $773.9k | New |
| Context Capital Management, LLC 0.02% of their portfolio | 54.8k $608.3k | Reduced -245.2k |
| Shaolin Capital Management LLC 0.02% of their portfolio | 50.0k $555.0k | New |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 49.7k $552.1k | New |
| FIFTH LANE CAPITAL, LP 0.60% of their portfolio | 45.0k $499.5k | New |
| FNY Investment Advisers, LLC 0.20% of their portfolio | 41.5k $460.0k | Added +41.4k |
| Yaupon Capital Management LP 0.03% of their portfolio | 35.1k $390.0k | New |
| TORONTO DOMINION BANK 0.00% of their portfolio | 34.5k $382.8k | Reduced -41.0k |
| Virtu Financial LLC 0.01% of their portfolio | 21.8k $242.0k | Added +8.3k |
| Patriot Financial Group Insurance Agency, LLC 0.02% of their portfolio | 18.9k $209.2k | New |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 15.1k $168.1k | Reduced -25.1k |
| Tuttle Capital Management, LLC 0.69% of their portfolio | 15.0k $166.5k | Reduced -20.0k |
| NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio | 12.6k $139.5k | New |
| Schonfeld Strategic Advisors LLC 0.00% of their portfolio | 11.4k $126.5k | Reduced -33.6k |
| North Capital, Inc. 0.06% of their portfolio | 6.0k $66.6k | New |
| UBS Group AG 0.00% of their portfolio | 3.6k $40.5k | Reduced -27.4k |
| IQ EQ FUND MANAGEMENT (SINGAPORE) PRIVATE Ltd 0.05% of their portfolio | 3.0k $33.3k | New |
| Anchor Investment Management, LLC 0.00% of their portfolio | 2.1k $23.3k | New |
| Federation des caisses Desjardins du Quebec 0.00% of their portfolio | 1.2k $13.3k | New |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 200 $2.2k | New |
| Tower Research Capital LLC (TRC) 0.00% of their portfolio | 105 $1.2k | New |
| CITIGROUP INC 0.00% of their portfolio | 50 $555 | New |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio | 0 $0 | Unchanged |