Vault-13

LIONHEART HOLDINGS CUB

SHS CL A · Common Stock · CUSIP G5501C109

42 institutional holders +2 vs Q4 2024
19,932,91419.9m shares reported held*
$204.7mreported value*
5 new 8 added 11 reduced 3 sold out net bought ≈ $1.8m (+171.0k 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 ($3.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $10.27.

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

0204060Q3 24: 32Q4 24: 40Q1 25: 4242Q3 24Q4 24Q1 25
Numbers
QuarterHolders
Q3 202432
Q4 202440
Q1 202542

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q4 24: 19 bought or addedQ4 24: 13 cut or sold outQ4 24Q1 25: 13 bought or addedQ1 25: 14 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q4 20241913
Q1 20251314

Biggest buyers

WOLVERINE ASSET MANAGEMENT LLC Added +298,772+298.8k
BERKLEY W R CORP Added +259,003+259.0k
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND New +186,650+186.7k
GLAZER CAPITAL, LLC Added +102,364+102.4k
TORONTO DOMINION BANK Added +81,274+81.3k
Karpus Management, Inc. Added +31,800+31.8k
RIVERNORTH CAPITAL MANAGEMENT, LLC Added +23,558+23.6k
LONGFELLOW INVESTMENT MANAGEMENT CO LLC New +7,520+7.5k
CLEAR STREET LLC Added +5,003+5.0k
UBS Group AG New +1,430+1.4k

Biggest sellers

HIGHBRIDGE CAPITAL MANAGEMENT LLC Sold out -350,000-350.0k
Verition Fund Management LLC Reduced -172,181-172.2k
Schechter Investment Advisors, LLC Reduced -66,900-66.9k
AQR Arbitrage LLC Reduced -65,000-65.0k
FIR TREE CAPITAL MANAGEMENT LP Sold out -39,031-39.0k
Virtu Financial LLC Reduced -37,562-37.6k
Bulldog Investors, LLP Reduced -31,677-31.7k
Kepos Capital LP Reduced -17,500-17.5k
Wealthspring Capital LLC Reduced -16,350-16.4k
Tuttle Capital Management, LLC Sold out -15,000-15.0k

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
Lionheart Sponsor, LLC 13G · exempt (held before listing) new · filed 2025-02-13 25.0% new 7.7m≈ $82.6m 2025-02-13
Linden Capital L.P. 13G · passive investor new · filed 2026-06-05 8.7% new 2.0m≈ $21.5m 2026-06-05
Decagon Asset Management LLP 13G · institution new · filed 2026-08-13 6.5% new 1.5m≈ $16.2m 2026-08-13
AQR CAPITAL MANAGEMENT LLC 13G · institution filed 2026-08-13 6.5% 1.4m≈ $15.1m 2026-08-13
GOLDMAN SACHS GROUP INC 13G · institution new · filed 2026-08-14 6.1% new 1.3m≈ $14.2m 2026-08-14
METEORA CAPITAL, LLC 13G · institution new · filed 2025-08-14 5.7% new 1.3m≈ $14.0m 2025-08-14
Harraden Circle Investments, LLC 13G · institution -0.9 pts · filed 2026-08-14 5.6% -0.9 pts 1.3m≈ $14.0m 2026-08-14

Fell to 5% or below in the last year: Wealthspring Capital LLC (4.5%, 2026-10-08), Magnetar Financial LLC (0.0%, 2026-09-04), LMR Partners LLP (3.5%, 2026-08-14), First Trust Capital Management L.P. (3.7%, 2026-08-14), PICTON MAHONEY ASSET MANAGEMENT (2.3%, 2026-08-11), WOLVERINE ASSET MANAGEMENT LLC (0.0%, 2026-07-02)

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 2,070,0002.1m $21.3m $21.3m 1.54% Unchanged
2 MMCAP International Inc. SPC 3.47% of their portfolio GRAND CAYMAN, E9 1,980,0002.0m $20.3m $20.3m 3.47% Unchanged
3 LMR Partners LLP 0.41% of their portfolio LONDON, X0 1,980,0002.0m $20.3m $20.3m 0.41% Unchanged
4 AQR Arbitrage LLC 0.39% of their portfolio Greenwich, CT 1,572,3441.6m $16.1m $16.1m 0.39% Reduced -65.0k -65,000
5 Karpus Management, Inc. 0.51% of their portfolio Pittsford, NY 1,524,0501.5m $15.7m $15.7m 0.51% Added +31.8k +31,800
6 PICTON MAHONEY ASSET MANAGEMENT 0.53% of their portfolio Toronto, A6 1,500,0001.5m $15.4m $15.4m 0.53% Unchanged
7 Schechter Investment Advisors, LLC 0.85% of their portfolio BIRMINGHAM, MI 1,010,5901.0m $10.4m $10.4m 0.85% Reduced -66.9k -66,900
8 D. E. Shaw & Co., Inc. 0.01% of their portfolio New York, NY 986,472986.5k $10.1m $10.1m 0.01% Unchanged
9 Polar Asset Management Partners Inc. 0.33% of their portfolio TORONTO, A6 985,000985.0k $10.1m $10.1m 0.33% Unchanged
10 WOLVERINE ASSET MANAGEMENT LLC 0.17% of their portfolio CHICAGO, IL 834,681834.7k $8.6m $8.6m 0.17% Added +298.8k +298,772
11 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 586,492586.5k $6.0m $6.0m 0.00% Unchanged
12 BERKLEY W R CORP 0.42% of their portfolio Greenwich, CT 557,163557.2k $5.7m $5.7m 0.42% Added +259.0k +259,003
13 RIVERNORTH CAPITAL MANAGEMENT, LLC 0.30% of their portfolio WEST PALM BEACH, FL 545,154545.2k $5.6m $5.6m 0.30% Added +23.6k +23,558
14 Bulldog Investors, LLP 1.43% of their portfolio SADDLE BROOK, NJ 513,302513.3k $5.3m $5.3m 1.43% Reduced -31.7k -31,677
15 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 500,000500.0k $5.1m $5.1m 0.01% Unchanged
16 COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.02% of their portfolio HARRISBURG, PA 400,000400.0k $4.1m $4.1m 0.02% Unchanged
17 Wealthspring Capital LLC 5.13% of their portfolio WEST HARRISON, NY 324,390324.4k $3.3m $3.3m 5.13% Reduced -16.4k -16,350
18 GLAZER CAPITAL, LLC 0.14% of their portfolio New York, NY 302,364302.4k $3.1m $3.1m 0.14% Added +102.4k +102,364
19 GRITSTONE ASSET MANAGEMENT LLC 3.18% of their portfolio Bethesda, MD 294,609294.6k $3.0m $3.0m 3.18% Reduced -993 -993
20 Verition Fund Management LLC 0.02% of their portfolio GREENWICH, CT 271,523271.5k $2.8m $2.8m 0.02% Reduced -172.2k -172,181
21 ARISTEIA CAPITAL, L.L.C. 0.08% of their portfolio GREENWICH, CT 250,000250.0k $2.6m $2.6m 0.08% Unchanged
22 TENOR CAPITAL MANAGEMENT Co., L.P. 0.04% of their portfolio NEW YORK, NY 250,000250.0k $2.6m $2.6m 0.04% Unchanged
23 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.00% of their portfolio TORONTO, A6 186,650186.7k $1.9m $1.9m 0.00% New
24 Schonfeld Strategic Advisors LLC 0.01% of their portfolio NEW YORK, NY 105,000105.0k $1.1m $1.1m 0.01% Reduced -8.6k -8,600
25 HEIGHTS CAPITAL MANAGEMENT, INC 0.49% of their portfolio SAN FRANCISCO, CA 100,000100.0k $1.0m $1.0m 0.49% Unchanged
26 WHITEBOX ADVISORS LLC 0.03% of their portfolio MINNEAPOLIS, MN 100,000100.0k $1.0m $1.0m 0.03% Unchanged
27 DELTEC ASSET MANAGEMENT LLC 0.22% of their portfolio New York, NY 100,000100.0k $1.0m $1.0m 0.22% Unchanged
28 Hudson Bay Capital Management LP 0.01% of their portfolio STAMFORD, CT 100,000100.0k $1.0m $1.0m 0.01% Unchanged
29 TORONTO DOMINION BANK 0.00% of their portfolio TORONTO, ONTARIO, A6 97,87297.9k $1.0m $1.0m 0.00% Added +81.3k +81,274
30 Meteora Capital, LLC 0.19% of their portfolio Boca Raton, FL 52,10552.1k $535.1k $535.1k 0.19% Reduced -7 -7
31 Kepos Capital LP 0.43% of their portfolio NEW YORK, NY 50,00050.0k $514.0k $514.0k 0.43% Reduced -17.5k -17,500
32 Dakota Wealth Management 0.01% of their portfolio PALM BEACH GARDENS, FL 43,42543.4k $446.0k $446.0k 0.01% Unchanged
33 Virtu Financial LLC 0.02% of their portfolio New York, NY 32,49832.5k $333.0k $333.0k 0.02% Reduced -37.6k -37,562
34 CONDOR CAPITAL MANAGEMENT 0.01% of their portfolio MARTINSVILLE, NJ 14,50014.5k $148.9k $148.9k 0.01% Unchanged
35 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 12,09512.1k $124.1k $124.1k 0.00% Reduced -6.2k -6,199
36 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 10,85310.9k $111.4k $111.4k 0.00% Added +478 +478
37 LONGFELLOW INVESTMENT MANAGEMENT CO LLC 0.02% of their portfolio BOSTON, MA 7,5207.5k $77.2k $77.2k 0.02% New
38 CLEAR STREET LLC 0.00% of their portfolio NEW YORK, NY 5,1035.1k $52.4k $52.4k 0.00% Added +5.0k +5,003
39 UBS Group AG 0.00% of their portfolio ZURICH, V8 1,4301.4k $14.7k $14.7k 0.00% New
40 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 7474 $763 $763 0.00% New
41 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 4545 $462 $462 0.00% New
42 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged