Vault-13

REAL ASSET ACQUISITION CORP

*W EXP 04/24/203 · CUSIP G73944111

22 institutional holders -11 vs Q1 2026
5,112,7885.1m shares reported held*
$18.5mreported value*
2 new 2 added 9 reduced 13 sold out net sold ≈ $9.8m (-2.7m 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 ≈ $3.62.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

02040Q2 25: 29Q3 25: 33Q4 25: 33Q1 26: 33Q2 26: 2222Q2 25Q3 25Q4 25Q1 26Q2 26
Numbers
QuarterHolders
Q2 202529
Q3 202533
Q4 202533
Q1 202633
Q2 202622

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q3 25: 8 bought or addedQ3 25: 6 cut or sold outQ3 25Q4 25: 8 bought or addedQ4 25: 10 cut or sold outQ4 25Q1 26: 10 bought or addedQ1 26: 18 cut or sold outQ1 26Q2 26: 4 bought or addedQ2 26: 22 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 202586
Q4 2025810
Q1 20261018
Q2 2026422

Calls vs puts

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

CallsPuts
$0$50k$100k$150k$200kQ3 25 calls: $22.4kQ3 25 puts: $0Q3 25P/C 0.00Q4 25 calls: $0Q4 25 puts: $0Q4 25P/C —Q1 26 calls: $199.5kQ1 26 puts: $0Q1 26P/C 0.00Q2 26 calls: $0Q2 26 puts: $0Q2 26P/C —
Numbers
QuarterCallsPutsP/C
Q3 2025$22.4k$00.00
Q4 2025$0$0—
Q1 2026$199.5k$00.00
Q2 2026$0$0—

Biggest buyers

Union Square Park Capital Management, LLC New +170,250+170.2k
LMR Partners LLP Added +119,245+119.2k
HRT FINANCIAL LP New +46,487+46.5k
Walleye Capital LLC Added +25,072+25.1k

Biggest sellers

Fort Baker Capital Management LP Sold out -917,016-917.0k
Saba Capital Management, L.P. Sold out -612,813-612.8k
CSS LLC/IL Sold out -247,048-247.0k
Hudson Bay Capital Management LP Sold out -200,000-200.0k
RIVERNORTH CAPITAL MANAGEMENT, LLC Sold out -199,936-199.9k
Governors Lane LP Reduced -180,900-180.9k
Lineage Point Capital LP Sold out -133,330-133.3k
Context Capital Management, LLC Sold out -132,700-132.7k
Schonfeld Strategic Advisors LLC Reduced -104,581-104.6k
ARISTEIA CAPITAL, L.L.C. Reduced -91,332-91.3k

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
First Trust Capital Management L.P. 13G · institution new · filed 2025-08-14 5.4% new 931.2k≈ $3.4m 2025-08-14

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 TENOR CAPITAL MANAGEMENT Co., L.P. 0.03% of their portfolio NEW YORK, NY 625,000625.0k $2.3m $2.3m 0.03% Unchanged
2 AQR Arbitrage LLC 0.03% of their portfolio Greenwich, CT 528,533528.5k $1.9m $1.9m 0.03% Reduced -7.1k -7,118
3 ARISTEIA CAPITAL, L.L.C. 0.03% of their portfolio GREENWICH, CT 478,768478.8k $1.7m $1.7m 0.03% Reduced -91.3k -91,332
4 LMR Partners LLP 0.01% of their portfolio LONDON, X0 419,245419.2k $1.5m $1.5m 0.01% Added +119.2k +119,245
5 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.00% of their portfolio TORONTO, A6 400,000400.0k $1.4m $1.4m 0.00% Unchanged
6 Magnetar Financial LLC 0.01% of their portfolio EVANSTON, IL 375,000375.0k $1.4m $1.4m 0.01% Unchanged
7 Clear Street Group Inc. 0.00% of their portfolio NEW YORK, NY 298,632298.6k $1.1m $1.1m 0.00% Reduced -22.6k -22,618
8 Alberta Investment Management Corp 0.01% of their portfolio EDMONTON, A0 275,000275.0k $995.5k $995.5k 0.01% Unchanged
9 Walleye Capital LLC 0.00% of their portfolio NEW YORK, NY 263,301263.3k $953.1k $953.1k 0.00% Added +25.1k +25,072
10 WHITEBOX ADVISORS LLC 0.01% of their portfolio MINNEAPOLIS, MN 250,000250.0k $905.0k $905.0k 0.01% Unchanged
11 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 189,100189.1k $684.5k $684.5k 0.00% Reduced -5.7k -5,699
12 Union Square Park Capital Management, LLC 0.45% of their portfolio New York, NY 170,250170.2k $616.3k $616.3k 0.45% New
13 Linden Advisors LP 0.00% of their portfolio New York, NY 150,000150.0k $546.8k $546.8k 0.00% Unchanged
14 Shaolin Capital Management LLC 0.03% of their portfolio Miami, FL 129,343129.3k $468.2k $468.2k 0.03% Reduced -45.7k -45,657
15 Centiva Capital, LP 0.02% of their portfolio New York, NY 129,260129.3k $467.9k $467.9k 0.02% Reduced -90.7k -90,740
16 Governors Lane LP 0.04% of their portfolio NEW YORK, NY 122,450122.5k $443.3k $443.3k 0.04% Reduced -180.9k -180,900
17 Polar Asset Management Partners Inc. 0.01% of their portfolio TORONTO, A6 100,000100.0k $362.0k $362.0k 0.01% Unchanged
18 MOORE CAPITAL MANAGEMENT, LP 0.01% of their portfolio NEW YORK, NY 75,00075.0k $271.5k $271.5k 0.01% Unchanged
19 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 50,00050.0k $181.0k $181.0k 0.00% Unchanged
20 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 46,48746.5k $168.0k $168.0k 0.00% New
21 Schonfeld Strategic Advisors LLC 0.00% of their portfolio NEW YORK, NY 27,41927.4k $99.3k $99.3k 0.00% Reduced -104.6k -104,581
22 Parallax Volatility Advisers, L.P. 0.00% of their portfolio San Francisco, CA 10,00010.0k $36.2k $36.2k 0.00% Reduced -10.0k -10,000