Vault-13

PATRIA LATIN AMRCN OPPRNTY A

CLASS A ORD SHS · CUSIP G69454109

34 institutional holders -16 vs Q1 2023
15,873,23515.9m shares reported held*
$170.0mreported value*
10 new 11 added 10 reduced 25 sold out net sold ≈ $34.4m (-3.2m 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 ≈ $10.71. Options: 0 managers hold calls (— notional), 1 hold puts ($6.4m).

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 44Q4 22: 46Q1 23: 50Q2 23: 3434Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 202244
Q4 202246
Q1 202350
Q2 202334

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q4 22: 15 bought or addedQ4 22: 18 cut or sold outQ4 22Q1 23: 18 bought or addedQ1 23: 11 cut or sold outQ1 23Q2 23: 21 bought or addedQ2 23: 35 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 20221518
Q1 20231811
Q2 20232135

Calls vs puts

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

CallsPuts
$0$2m$4m$6m$8mQ3 22 calls: $0Q3 22 puts: $0Q3 22P/C —Q4 22 calls: $0Q4 22 puts: $0Q4 22P/C —Q1 23 calls: $0Q1 23 puts: $0Q1 23P/C —Q2 23 calls: $0Q2 23 puts: $6.4mQ2 23P/C —
Numbers
QuarterCallsPutsP/C
Q3 2022$0$0—
Q4 2022$0$0—
Q1 2023$0$0—
Q2 2023$0$6.4m—

Biggest buyers

Linden Advisors LP Added +900,000+900.0k
BERKLEY W R CORP New +831,045+831.0k
Castle Creek Arbitrage, LLC Added +804,407+804.4k
MIZUHO SECURITIES USA LLC Added +769,930+769.9k
Quarry LP Added +600,226+600.2k
Meteora Capital, LLC Added +566,999+567.0k
First Trust Capital Management L.P. Added +520,752+520.8k
WOLVERINE ASSET MANAGEMENT LLC Added +480,466+480.5k
Westchester Capital Management, LLC Added +402,329+402.3k
Atlas Merchant Capital LLC New +400,000+400.0k

Biggest sellers

ADAGE CAPITAL PARTNERS GP, L.L.C. Sold out -1,800,000-1.8m
Saba Capital Management, L.P. Reduced -1,306,994-1.3m
ARISTEIA CAPITAL, L.L.C. Sold out -1,057,620-1.1m
BANK OF MONTREAL /CAN/ Reduced -877,560-877.6k
TWO SIGMA INVESTMENTS, LP Sold out -666,664-666.7k
HGC Investment Management Inc. Reduced -650,000-650.0k
Periscope Capital Inc. Reduced -621,645-621.6k
Shaolin Capital Management LLC Sold out -530,035-530.0k
STATE OF WISCONSIN INVESTMENT BOARD Sold out -500,000-500.0k
HSBC HOLDINGS PLC Sold out -449,999-450.0k

Biggest calls

None

Biggest puts

Shaolin Capital Management LLC New $6.4m600.0k shares

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.

HolderStakeChangeShares Last filed
METEORA CAPITAL, LLC 13G · institution no change · filed 2025-08-14 9.9% no change 450.0k 2025-08-14

Fell to 5% or below in the last year: Westchester Capital Management, LLC (0.0%, 2026-02-13), GLAZER CAPITAL, LLC (0.0%, 2026-02-12), AQR CAPITAL MANAGEMENT LLC (0.0%, 2026-02-11)

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 GLAZER CAPITAL, LLC 0.87% of their portfolio New York, NY 1,225,3371.2m $13.2m $13.2m 0.87% Reduced -100 -100
2 Westchester Capital Management, LLC 0.41% of their portfolio VALHALLA, NY 1,090,6731.1m $11.7m $11.7m 0.41% Added +402.3k +402,329
3 First Trust Capital Management L.P. 0.68% of their portfolio CHICAGO, IL 1,055,7391.1m $11.3m $11.3m 0.68% Added +520.8k +520,752
4 Castle Creek Arbitrage, LLC 1.40% of their portfolio AVON, CO 1,054,4051.1m $11.3m $11.3m 1.40% Added +804.4k +804,407
5 Linden Advisors LP 0.11% of their portfolio New York, NY 1,000,0001.0m $10.7m $10.7m 0.11% Added +900.0k +900,000
6 MIZUHO SECURITIES USA LLC 0.31% of their portfolio NEW YORK, NY 869,930869.9k $9.3m $9.3m 0.31% Added +769.9k +769,930
7 FIR TREE CAPITAL MANAGEMENT LP 0.91% of their portfolio New York, NY 859,102859.1k $9.2m $9.2m 0.91% Reduced -33.5k -33,528
8 BERKLEY W R CORP 0.54% of their portfolio Greenwich, CT 831,045831.0k $8.9m $8.9m 0.54% New
9 Polar Asset Management Partners Inc. 0.16% of their portfolio TORONTO, A6 750,000750.0k $8.1m $8.1m 0.16% Unchanged
10 Radcliffe Capital Management, L.P. 0.65% of their portfolio BALA CYNWYD, PA 711,044711.0k $7.6m $7.6m 0.65% Reduced -60.7k -60,681
11 Quarry LP 4.21% of their portfolio NEW YORK, NY 605,226605.2k $6.5m $6.5m 4.21% Added +600.2k +600,226
12 WOLVERINE ASSET MANAGEMENT LLC 0.12% of their portfolio CHICAGO, IL 591,081591.1k $6.3m $6.3m 0.12% Added +480.5k +480,466
13 Meteora Capital, LLC 1.14% of their portfolio Boca Raton, FL 578,026578.0k $6.2m $6.2m 1.14% Added +567.0k +566,999
14 AQR Arbitrage LLC 0.24% of their portfolio Greenwich, CT 513,635513.6k $5.5m $5.5m 0.24% Reduced -402.7k -402,748
15 Periscope Capital Inc. 0.42% of their portfolio Toronto, A6 500,000500.0k $5.4m $5.4m 0.42% Reduced -621.6k -621,645
16 Verition Fund Management LLC 0.08% of their portfolio GREENWICH, CT 478,974479.0k $5.1m $5.1m 0.08% Added +352.6k +352,561
17 KIM, LLC 0.41% of their portfolio WICHITA, KS 450,000450.0k $4.8m $4.8m 0.41% Added +350.0k +350,000
18 Atlas Merchant Capital LLC 0.92% of their portfolio New York, NY 400,000400.0k $4.3m $4.3m 0.92% New
19 OCONNOR, A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS (LLC) 0.08% of their portfolio CHICAGO, IL 356,067356.1k $3.8m $3.8m 0.08% Reduced -8.0k -8,026
20 P SCHOENFELD ASSET MANAGEMENT LP 0.51% of their portfolio NEW YORK, NY 350,000350.0k $3.8m $3.8m 0.51% New
21 Crystalline Management Inc. 2.66% of their portfolio Montreal, Quebec, Z4 350,000350.0k $3.8m $3.8m 2.66% New
22 Saba Capital Management, L.P. 0.10% of their portfolio NEW YORK, NY 293,006293.0k $3.1m $3.1m 0.10% Reduced -1.3m -1,306,994
23 PRELUDE CAPITAL MANAGEMENT, LLC 0.22% of their portfolio NEW YORK, NY 250,000250.0k $2.7m $2.7m 0.22% New
24 Spartan Fund Management Inc. 0.45% of their portfolio TORONTO, ONTARIO, Z4 209,099209.1k $1.9m $1.9m 0.45% Added +121.8k +121,843
25 HGC Investment Management Inc. 0.58% of their portfolio TORONTO, A6 150,000150.0k $1.6m $1.6m 0.58% Reduced -650.0k -650,000
26 COWEN AND COMPANY, LLC 0.10% of their portfolio NEW YORK, NY 106,839106.8k $1.1m $1.1m 0.10% New
27 LMR Partners LLP 0.02% of their portfolio LONDON, X0 100,000100.0k $1.1m $1.1m 0.02% Reduced -150.0k -150,000
28 OAKTREE CAPITAL MANAGEMENT LP 0.01% of their portfolio LOS ANGELES, CA 50,00050.0k $537.0k $537.0k 0.01% Unchanged
29 Walleye Capital LLC 0.01% of their portfolio NEW YORK, NY 44,80044.8k $481.2k $481.2k 0.01% New
30 Walleye Trading LLC 0.01% of their portfolio NEW YORK, NY 25,20025.2k $270.6k $270.6k 0.01% New
31 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 22,44022.4k $241.5k $241.5k 0.00% Reduced -877.6k -877,560
32 CLEAR STREET LLC 0.00% of their portfolio NEW YORK, NY 1,3671.4k $14.7k $14.7k 0.00% New
33 UBS Group AG 0.00% of their portfolio ZURICH, V8 200200 $2.1k $2.1k 0.00% New
34 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged