LEGATO MERGER CORP III
*W EXP 05/08/203 · CUSIP G5451A111
32
institutional holders
+1 vs Q3 2024
6.4m
shares reported held*
$1.1mreported value*
4 new
2 added
4 reduced
5 sold out
net sold ≈ $147.3k (-901.7k 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 ($3.1k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $0.18. Options: 2 managers hold calls ($53.4k notional), 0 hold puts (—).
Trends to Q4 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q1 2024 | 8 |
| Q2 2024 | 35 |
| Q3 2024 | 31 |
| Q4 2024 | 32 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Bought or addedCut or sold out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2024 | 31 | 2 |
| Q3 2024 | 9 | 9 |
| Q4 2024 | 6 | 9 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
CallsPuts
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2024 | $0 | $0 | — |
| Q2 2024 | $43.6k | $0 | 0.00 |
| Q3 2024 | $50.1k | $0 | 0.00 |
| Q4 2024 | $53.4k | $0 | 0.00 |
Biggest buyers
| Linden Advisors LP | New | +225.0k |
| Crossingbridge Advisors, LLC | New | +217.7k |
| LMR Partners LLP | New | +150.0k |
| Schonfeld Strategic Advisors LLC | New | +50.0k |
| Periscope Capital Inc. | Added | +18.9k |
| Bulldog Investors, LLP | Added | +9.3k |
Biggest sellers
| COWEN AND COMPANY, LLC | Sold out | -981.6k |
| Westchester Capital Management, LLC | Sold out | -191.6k |
| Kepos Capital LP | Sold out | -175.0k |
| Shaolin Capital Management LLC | Reduced | -100.0k |
| Hudson Bay Capital Management LP | Sold out | -75.0k |
| Schechter Investment Advisors, LLC | Reduced | -21.1k |
| AQR Arbitrage LLC | Reduced | -12.7k |
| Walleye Capital LLC | Sold out | -12.7k |
| CLEAR STREET LLC | Reduced | -2.8k |
Biggest calls
| DEUTSCHE BANK AG\ | Unchanged | $39.4k246.5k shares |
| MILLENNIUM MANAGEMENT LLC | Unchanged | $14.0k87.5k 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.
Holders, Q4 2024
| Manager | Shares | Change |
|---|---|---|
| Periscope Capital Inc. 0.10% of their portfolio | 884.8k $144.3k | Added +18.9k |
| AQR Arbitrage LLC 0.00% of their portfolio | 836.6k $133.9k | Reduced -12.7k |
| HIGHBRIDGE CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 750.0k $108.8k | Unchanged |
| Harraden Circle Investments, LLC 0.06% of their portfolio | 465.0k $74.4k | First filing |
| Shaolin Capital Management LLC 0.00% of their portfolio | 425.0k $68.0k | Reduced -100.0k |
| RIVERNORTH CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 399.5k $63.9k | Unchanged |
| MOORE CAPITAL MANAGEMENT, LP 0.00% of their portfolio | 275.0k $44.0k | Unchanged |
| K2 PRINCIPAL FUND, L.P. 0.01% of their portfolio | 256.3k $41.0k | Unchanged |
| Decagon Asset Management LLP 0.02% of their portfolio | 243.2k $38.9k | First filing |
| GRITSTONE ASSET MANAGEMENT LLC 0.04% of their portfolio | 234.6k $37.5k | First filing |
| Verition Fund Management LLC 0.00% of their portfolio | 226.0k $36.2k | Unchanged |
| Linden Advisors LP 0.00% of their portfolio | 225.0k $43.7k | New |
| Crossingbridge Advisors, LLC 0.01% of their portfolio | 217.7k $34.8k | New |
| Polar Asset Management Partners Inc. 0.00% of their portfolio | 200.0k $33.8k | Unchanged |
| PICTON MAHONEY ASSET MANAGEMENT 0.00% of their portfolio | 200.0k $32.0k | Unchanged |
| Schechter Investment Advisors, LLC 0.00% of their portfolio | 168.8k $27.0k | Reduced -21.1k |
| Centiva Capital, LP 0.00% of their portfolio | 162.5k $24.4k | Unchanged |
| CLEAR STREET LLC 0.00% of their portfolio | 154.7k $24.8k | Reduced -2.8k |
| LMR Partners LLP 0.00% of their portfolio | 150.0k $24.0k | New |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 136.1k $21.8k | Unchanged |
| Bulldog Investors, LLP 0.00% of their portfolio | 103.9k $16.6k | Added +9.3k |
| Mint Tower Capital Management B.V. 0.00% of their portfolio | 75.0k $12.0k | Unchanged |
| MASO CAPITAL PARTNERS Ltd 0.01% of their portfolio | 62.5k $10.0k | Unchanged |
| Context Capital Management, LLC 0.00% of their portfolio | 50.0k $8.0k | Unchanged |
| MMCAP International Inc. SPC 0.00% of their portfolio | 50.0k $8.0k | Unchanged |
| Parallax Volatility Advisers, L.P. 0.00% of their portfolio | 50.0k $8.0k | Unchanged |
| Schonfeld Strategic Advisors LLC 0.00% of their portfolio | 50.0k $8.0k | New |
| Spartan Fund Management Inc. 0.03% of their portfolio | 50.0k $8.0k | Unchanged |
| TENOR CAPITAL MANAGEMENT Co., L.P. 0.00% of their portfolio | 20.0k $3.2k | Unchanged |
| Wealthspring Capital LLC 0.00% of their portfolio | 19.2k $3.1k | Unchanged |
| TrueMark Investments, LLC 0.00% of their portfolio | 10.0k $1.6k | Unchanged |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio | 0 $0 | Unchanged |