Vault-13

MELAR ACQUISITION CORP. I MACI

SHS CL A · Common Stock · CUSIP G6004G100

34 institutional holders -1 vs Q4 2024
14,083,66014.1m shares reported held*
$144.1mreported value*
5 new 6 added 4 reduced 6 sold out net bought ≈ $5.6m (+552.0k 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 ($1.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $10.23.

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

02040Q3 24: 31Q4 24: 35Q1 25: 3434Q3 24Q4 24Q1 25
Numbers
QuarterHolders
Q3 202431
Q4 202435
Q1 202534

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q4 24: 12 bought or addedQ4 24: 13 cut or sold outQ4 24Q1 25: 11 bought or addedQ1 25: 10 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q4 20241213
Q1 20251110

Biggest buyers

WOLVERINE ASSET MANAGEMENT LLC Added +866,829+866.8k
Westchester Capital Management, LLC New +524,707+524.7k
Cable Car Capital, LP New +492,500+492.5k
GLAZER CAPITAL, LLC Added +184,955+185.0k
BERKLEY W R CORP Added +124,288+124.3k
Karpus Management, Inc. Added +122,847+122.8k
MIZUHO SECURITIES USA LLC Added +92,793+92.8k
TORONTO DOMINION BANK Added +53,934+53.9k
GEODE CAPITAL MANAGEMENT, LLC New +20,430+20.4k
UBS Group AG New +2,242+2.2k

Biggest sellers

HIGHBRIDGE CAPITAL MANAGEMENT LLC Sold out -1,485,000-1.5m
Bulldog Investors, LLP Sold out -150,000-150.0k
GRITSTONE ASSET MANAGEMENT LLC Sold out -91,973-92.0k
AQR Arbitrage LLC Reduced -65,000-65.0k
Virtu Financial LLC Reduced -50,940-50.9k
FIR TREE CAPITAL MANAGEMENT LP Sold out -30,497-30.5k
Wealthspring Capital LLC Reduced -19,850-19.9k
Tidal Investments LLC Sold out -13,419-13.4k
ROBINSON CAPITAL MANAGEMENT, LLC Sold out -13,419-13.4k
Schechter Investment Advisors, LLC Reduced -13,418-13.4k

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
Melar Acquisition Sponsor I LLC 13G · exempt (held before listing) new · filed 2025-02-13 26.0% new 5.6m≈ $61.2m 2025-02-13
Karpus Management, Inc. 13G · institution +5.5 pts · filed 2026-07-07 10.1% +5.5 pts 961.3k≈ $10.5m 2026-07-07
BERKLEY W R CORP 13G · institution +2.9 pts · filed 2026-08-06 8.3% +2.9 pts 795.9k≈ $8.7m 2026-08-06
LMR Partners LLP 13G · institution filed 2026-08-14 7.8% 742.5k≈ $8.1m 2026-08-14
METEORA CAPITAL, LLC 13G · institution new · filed 2025-08-14 6.9% new 1.1m≈ $12.1m 2025-08-14

Fell to 5% or below in the last year: First Trust Capital Management L.P. (2.5%, 2026-08-14), AQR CAPITAL MANAGEMENT LLC (3.4%, 2026-08-13), MIZUHO FINANCIAL GROUP INC (0.0%, 2026-08-13), WOLVERINE ASSET MANAGEMENT LLC (0.0%, 2026-07-02), BARCLAYS PLC (3.6%, 2026-05-14), BANK OF MONTREAL /CAN/ (0.0%, 2026-01-08)

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 Karpus Management, Inc. 0.54% of their portfolio Pittsford, NY 1,633,2631.6m $16.7m $16.7m 0.54% Added +122.8k +122,847
2 First Trust Capital Management L.P. 1.17% of their portfolio CHICAGO, IL 1,578,9511.6m $16.2m $16.2m 1.17% Unchanged
3 Polar Asset Management Partners Inc. 0.50% of their portfolio TORONTO, A6 1,485,0001.5m $15.2m $15.2m 0.50% Unchanged
4 LMR Partners LLP 0.31% of their portfolio LONDON, X0 1,485,0001.5m $15.2m $15.2m 0.31% Unchanged
5 WOLVERINE ASSET MANAGEMENT LLC 0.24% of their portfolio CHICAGO, IL 1,194,0011.2m $12.2m $12.2m 0.24% Added +866.8k +866,829
6 AQR Arbitrage LLC 0.25% of their portfolio Greenwich, CT 1,018,1791.0m $10.4m $10.4m 0.25% Reduced -65.0k -65,000
7 D. E. Shaw & Co., Inc. 0.01% of their portfolio New York, NY 576,328576.3k $5.9m $5.9m 0.01% Unchanged
8 GLAZER CAPITAL, LLC 0.27% of their portfolio New York, NY 562,608562.6k $5.8m $5.8m 0.27% Added +185.0k +184,955
9 Westchester Capital Management, LLC 0.31% of their portfolio VALHALLA, NY 524,707524.7k $5.4m $5.4m 0.31% New
10 Cable Car Capital, LP 5.72% of their portfolio SAN FRANCISCO, CA 492,500492.5k $5.0m $5.0m 5.72% New
11 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
12 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 375,000375.0k $3.8m $3.8m 0.01% Unchanged
13 Hudson Bay Capital Management LP 0.02% of their portfolio STAMFORD, CT 325,000325.0k $3.3m $3.3m 0.02% Unchanged
14 PICTON MAHONEY ASSET MANAGEMENT 0.11% of their portfolio Toronto, A6 325,000325.0k $3.3m $3.3m 0.11% Unchanged
15 BERKLEY W R CORP 0.24% of their portfolio Greenwich, CT 323,448323.4k $3.3m $3.3m 0.24% Added +124.3k +124,288
16 Schechter Investment Advisors, LLC 0.26% of their portfolio BIRMINGHAM, MI 312,724312.7k $3.2m $3.2m 0.26% Reduced -13.4k -13,418
17 RIVERNORTH CAPITAL MANAGEMENT, LLC 0.16% of their portfolio WEST PALM BEACH, FL 299,998300.0k $3.1m $3.1m 0.16% Unchanged
18 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 299,331299.3k $3.1m $3.1m 0.00% Unchanged
19 Periscope Capital Inc. 1.14% of their portfolio Toronto, A6 200,000200.0k $2.1m $2.1m 1.14% Unchanged
20 Wealthspring Capital LLC 2.57% of their portfolio WEST HARRISON, NY 163,050163.1k $1.7m $1.7m 2.57% Reduced -19.9k -19,850
21 MIZUHO SECURITIES USA LLC 0.03% of their portfolio NEW YORK, NY 126,753126.8k $1.3m $1.3m 0.03% Added +92.8k +92,793
22 HEIGHTS CAPITAL MANAGEMENT, INC 0.49% of their portfolio SAN FRANCISCO, CA 100,000100.0k $1.0m $1.0m 0.49% Unchanged
23 DELTEC ASSET MANAGEMENT LLC 0.22% of their portfolio New York, NY 100,000100.0k $1.0m $1.0m 0.22% Unchanged
24 MOORE CAPITAL MANAGEMENT, LP 0.03% of their portfolio NEW YORK, NY 75,00075.0k $767.2k $767.2k 0.03% Unchanged
25 TORONTO DOMINION BANK 0.00% of their portfolio TORONTO, ONTARIO, A6 69,04369.0k $706.3k $706.3k 0.00% Added +53.9k +53,934
26 Schonfeld Strategic Advisors LLC 0.00% of their portfolio NEW YORK, NY 50,00050.0k $513.0k $513.0k 0.00% Unchanged
27 Virtu Financial LLC 0.03% of their portfolio New York, NY 47,62047.6k $487.0k $487.0k 0.03% Reduced -50.9k -50,940
28 Dakota Wealth Management 0.01% of their portfolio PALM BEACH GARDENS, FL 39,00039.0k $399.0k $399.0k 0.01% Unchanged
29 Tuttle Capital Management, LLC 1.57% of their portfolio RIVERSIDE, CT 35,00035.0k $358.1k $358.1k 1.57% Unchanged
30 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 20,43020.4k $209.0k $209.0k 0.00% New
31 LONGFELLOW INVESTMENT MANAGEMENT CO LLC 0.02% of their portfolio BOSTON, MA 7,5207.5k $76.9k $76.9k 0.02% Unchanged
32 UBS Group AG 0.00% of their portfolio ZURICH, V8 2,2422.2k $22.9k $22.9k 0.00% New
33 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1414 $143 $143 0.00% New
34 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged