Vault-13

NEW PROVIDENCE ACQUISITION C NPAC

USD CL A ORD SHS · Common Stock · CUSIP G6476A102

55 institutional holders +5 vs Q3 2025
27,946,31427.9m shares reported held*
$286.7mreported value*
5 new 11 added 14 reduced 0 sold out net bought ≈ $14.2m (+1.4m 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. Holder counts are more reliable. Implied quarter-end price ≈ $10.26.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0204060Q2 25: 31Q3 25: 50Q4 25: 5555Q2 25Q3 25Q4 25
Numbers
QuarterHolders
Q2 202531
Q3 202550
Q4 202555

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q3 25: 32 bought or addedQ3 25: 7 cut or sold outQ3 25Q4 25: 16 bought or addedQ4 25: 14 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q3 2025327
Q4 20251614

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$10k$20k$30kQ1 25 calls: $0Q1 25 puts: $0Q1 25P/C —Q2 25 calls: $0Q2 25 puts: $0Q2 25P/C —Q3 25 calls: $29.3kQ3 25 puts: $0Q3 25P/C 0.00Q4 25 calls: $0Q4 25 puts: $0Q4 25P/C —
Numbers
QuarterCallsPutsP/C
Q1 2025$0$0—
Q2 2025$0$0—
Q3 2025$29.3k$00.00
Q4 2025$0$0—

Biggest buyers

Westchester Capital Management, LLC New +1,278,999+1.3m
TORONTO DOMINION BANK Added +359,071+359.1k
MILLENNIUM MANAGEMENT LLC Added +272,416+272.4k
Centiva Capital, LP Added +250,000+250.0k
Hudson Bay Capital Management LP Added +224,665+224.7k
Governors Lane LP Added +200,000+200.0k
Radcliffe Capital Management, L.P. Added +106,990+107.0k
Baird Financial Group, Inc. New +78,780+78.8k
PRELUDE CAPITAL MANAGEMENT, LLC New +50,000+50.0k
Alpine Global Management, LLC New +38,588+38.6k

Biggest sellers

HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Reduced -1,000,000-1.0m
HighTower Advisors, LLC Reduced -145,272-145.3k
Schonfeld Strategic Advisors LLC Reduced -115,606-115.6k
WOLVERINE ASSET MANAGEMENT LLC Reduced -80,533-80.5k
JPMORGAN CHASE & CO Reduced -49,593-49.6k
Wealthspring Capital LLC Reduced -38,848-38.8k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -28,515-28.5k
Verition Fund Management LLC Reduced -27,295-27.3k
Shaolin Capital Management LLC Reduced -25,000-25.0k
Clear Street Group Inc. Reduced -12,419-12.4k

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
NEW PROVIDENCE HOLDINGS III, LLC 13D · may seek influence new · filed 2025-05-02
Stated purposeIn connection with the organization of the Issuer, on December 4, 2024, 5,750,000 Class B Ordinary Shares (the "Founder Shares") were purchased by the Sponsor for the amount of $25,000, pursuant to a Securities Subscription Agreement, dated as of December 4, 2024, by and between the Sponsor and the Issuer (the "Founder Share Purchase Agreement"), as more fully described in Item 6 of this Schedule 13D which information is incorporated herein by reference. In March 2025, the Issuer effected a share capitalization, resulting in the Sponsor holding an aggregate of 7,503,750 founder shares. On April 25, 2025, simultaneously with the consummation of the Issuer's Initial Public Offering (the "IPO"), the Sponsor purchased 611,075 units ("Placement Units") of the Issuer at $10.00 per Placement Uni… Full filing
 21.1% new 8.1m≈ $84.2m 2025-05-02
MMCAP International Inc. SPC 13G · passive investor no change · filed 2026-02-13 7.1% no change 2.2m≈ $22.8m 2026-02-13
Magnetar Financial LLC 13G · institution new · filed 2025-08-08 5.7% new 1.8m≈ $18.2m 2025-08-08

Fell to 5% or below in the last year: AQR CAPITAL MANAGEMENT LLC (4.6%, 2026-08-12), HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND (2.2%, 2026-02-13)

Insider purchases and sales in Q4 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.

Officers and directors buying vs selling

Number of people, by quarter (10% owners not included)

BuyingSelling
101Q1 24: 0 buyingQ1 24: 0 sellingQ2 24: 0 buyingQ2 24: 0 sellingQ2 24Q3 24: 0 buyingQ3 24: 0 sellingQ4 24: 0 buyingQ4 24: 0 sellingQ4 24Q1 25: 0 buyingQ1 25: 0 sellingQ2 25: 1 buyingQ2 25: 0 sellingQ2 25Q3 25: 0 buyingQ3 25: 0 sellingQ4 25: 0 buyingQ4 25: 0 sellingQ4 25
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q1 20240—0——
Q2 20240—0——
Q3 20240—0——
Q4 20240—0——
Q1 20250—0——
Q2 20251$6.1m0——
Q3 20250—0——
Q4 20250—0——

None reported in Q4 2025.

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MMCAP International Inc. SPC 2.26% of their portfolio GRAND CAYMAN, E9 2,200,0002.2m $22.6m $22.6m 2.26% Unchanged
2 Magnetar Financial LLC 0.18% of their portfolio EVANSTON, IL 1,749,9901.7m $18.0m $18.0m 0.18% Unchanged
3 AQR Arbitrage LLC 0.35% of their portfolio Greenwich, CT 1,613,3821.6m $16.6m $16.6m 0.35% Unchanged
4 TENOR CAPITAL MANAGEMENT Co., L.P. 0.22% of their portfolio NEW YORK, NY 1,500,0001.5m $15.4m $15.4m 0.22% Unchanged
5 Westchester Capital Management, LLC 0.62% of their portfolio VALHALLA, NY 1,278,9991.3m $13.1m $13.1m 0.62% New
6 Alberta Investment Management Corp 0.08% of their portfolio EDMONTON, A0 1,250,0001.2m $12.8m $12.8m 0.08% Unchanged
7 ARISTEIA CAPITAL, L.L.C. 0.35% of their portfolio GREENWICH, CT 1,200,0001.2m $12.3m $12.3m 0.35% Unchanged
8 Linden Advisors LP 0.08% of their portfolio New York, NY 1,200,0001.2m $12.3m $12.3m 0.08% Unchanged
9 LMR Partners LLP 0.12% of their portfolio LONDON, X0 1,200,0001.2m $12.3m $12.3m 0.12% Unchanged
10 Ghisallo Capital Management LLC 0.46% of their portfolio BOSTON, MA 1,000,0001.0m $10.3m $10.3m 0.46% Unchanged
11 PICTON MAHONEY ASSET MANAGEMENT 0.11% of their portfolio Toronto, A6 999,9991,000.0k $10.3m $10.3m 0.11% Unchanged
12 Governors Lane LP 0.80% of their portfolio NEW YORK, NY 850,000850.0k $8.7m $8.7m 0.80% Added +200.0k +200,000
13 Wealthspring Capital LLC 1.71% of their portfolio WEST HARRISON, NY 704,461704.5k $7.2m $7.2m 1.71% Reduced -38.8k -38,848
14 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.01% of their portfolio TORONTO, A6 689,999690.0k $7.1m $7.1m 0.01% Reduced -1.0m -1,000,000
15 Radcliffe Capital Management, L.P. 0.37% of their portfolio BALA CYNWYD, PA 665,376665.4k $6.8m $6.8m 0.37% Added +107.0k +106,990
16 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 512,330512.3k $5.3m $5.3m 0.00% Unchanged
17 Hudson Bay Capital Management LP 0.03% of their portfolio STAMFORD, CT 503,271503.3k $5.2m $5.2m 0.03% Added +224.7k +224,665
18 WHITEBOX ADVISORS LLC 0.09% of their portfolio MINNEAPOLIS, MN 500,000500.0k $5.1m $5.1m 0.09% Unchanged
19 Mint Tower Capital Management B.V. 0.62% of their portfolio AMSTERDAM, P7 500,000500.0k $5.1m $5.1m 0.62% Unchanged
20 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 455,750455.8k $4.7m $4.7m 0.00% Added +272.4k +272,416
21 HGC Investment Management Inc. 0.98% of their portfolio TORONTO, A6 450,000450.0k $4.6m $4.6m 0.98% Unchanged
22 Centiva Capital, LP 0.28% of their portfolio New York, NY 449,998450.0k $4.6m $4.6m 0.28% Added +250.0k +250,000
23 Periscope Capital Inc. 0.84% of their portfolio Toronto, A6 422,357422.4k $4.3m $4.3m 0.84% Reduced -8.0k -8,031
24 Shaolin Capital Management LLC 0.16% of their portfolio Miami, FL 400,000400.0k $4.1m $4.1m 0.16% Reduced -25.0k -25,000
25 COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.02% of their portfolio HARRISBURG, PA 399,999400.0k $4.1m $4.1m 0.02% Unchanged
26 BERKLEY W R CORP 0.23% of their portfolio Greenwich, CT 396,879396.9k $4.1m $4.1m 0.23% Unchanged
27 TORONTO DOMINION BANK 0.01% of their portfolio TORONTO, ONTARIO, A6 365,471365.5k $3.7m $3.7m 0.01% Added +359.1k +359,071
28 RIVERNORTH CAPITAL MANAGEMENT, LLC 0.17% of their portfolio WEST PALM BEACH, FL 347,499347.5k $3.6m $3.6m 0.17% Reduced -2.4k -2,370
29 GLAZER CAPITAL, LLC 0.09% of their portfolio New York, NY 321,480321.5k $3.3m $3.3m 0.09% Unchanged
30 Schonfeld Strategic Advisors LLC 0.02% of their portfolio NEW YORK, NY 313,000313.0k $3.2m $3.2m 0.02% Reduced -115.6k -115,606
31 Verition Fund Management LLC 0.02% of their portfolio GREENWICH, CT 312,705312.7k $3.2m $3.2m 0.02% Reduced -27.3k -27,295
32 Clear Street Group Inc. 0.02% of their portfolio NEW YORK, NY 304,911304.9k $3.1m $3.1m 0.02% Reduced -12.4k -12,419
33 MOORE CAPITAL MANAGEMENT, LP 0.06% of their portfolio NEW YORK, NY 300,000300.0k $3.1m $3.1m 0.06% Unchanged
34 Meteora Capital, LLC 0.26% of their portfolio Boca Raton, FL 299,000299.0k $3.1m $3.1m 0.26% Reduced -1.0k -1,000
35 Decagon Asset Management LLP 1.17% of their portfolio LONDON, X0 270,437270.4k $2.8m $2.8m 1.17% Added +16.9k +16,892
36 OCONNOR, A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS (LLC) 0.07% of their portfolio CHICAGO, IL 250,000250.0k $2.6m $2.6m 0.07% Unchanged
37 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 244,121244.1k $2.5m $2.5m 0.00% Reduced -145.3k -145,272
38 DLD Asset Management, LP 0.23% of their portfolio NEW YORK, NY 219,510219.5k $2.3m $2.3m 0.23% Added +19.5k +19,510
39 WOLVERINE ASSET MANAGEMENT LLC 0.03% of their portfolio CHICAGO, IL 218,206218.2k $2.2m $2.2m 0.03% Reduced -80.5k -80,533
40 Polar Asset Management Partners Inc. 0.04% of their portfolio TORONTO, A6 200,000200.0k $2.1m $2.1m 0.04% Unchanged
41 MIZUHO SECURITIES USA LLC 0.02% of their portfolio NEW YORK, NY 147,117147.1k $1.5m $1.5m 0.02% Reduced -2.9k -2,883
42 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 100,000100.0k $1.0m $1.0m 0.00% Unchanged
43 Context Capital Management, LLC 0.03% of their portfolio LAJOLLA, CA 100,000100.0k $1.0m $1.0m 0.03% Unchanged
44 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 78,78078.8k $808.3k $808.3k 0.00% New
45 DELTEC ASSET MANAGEMENT LLC 0.13% of their portfolio New York, NY 75,00075.0k $769.5k $769.5k 0.13% Unchanged
46 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 74,28474.3k $762.2k $762.2k 0.00% Unchanged
47 UBS Group AG 0.00% of their portfolio ZURICH, V8 70,09270.1k $719.1k $719.1k 0.00% Added +8.8k +8,750
48 HEIGHTS CAPITAL MANAGEMENT, INC 0.19% of their portfolio SAN FRANCISCO, CA 50,00050.0k $513.0k $513.0k 0.19% Unchanged
49 PRELUDE CAPITAL MANAGEMENT, LLC 0.04% of their portfolio NEW YORK, NY 50,00050.0k $513.0k $513.0k 0.04% New
50 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 39,83539.8k $408.7k $408.7k 0.00% Reduced -49.6k -49,593
51 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 38,86238.9k $398.7k $398.7k 0.00% Reduced -28.5k -28,515
52 Alpine Global Management, LLC 0.09% of their portfolio NEW YORK, NY 38,58838.6k $395.9k $395.9k 0.09% New
53 PenderFund Capital Management Ltd. 0.02% of their portfolio VANCOUVER, A1 13,76513.8k $141.2k $141.2k 0.02% New
54 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 10,73410.7k $110.1k $110.1k 0.00% Added +317 +317
55 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 127127 $1.3k $1.3k 0.00% Added +82 +82