Vault-13

TARGET GLOBAL ACQUISI I CORP TGAAF

CLASS A ORD SHS · Common Stock · CUSIP G8675N109

29 institutional holders -27 vs Q1 2023
3,835,4013.8m shares reported held*
$40.1mreported value*
6 new 5 added 12 reduced 32 sold out net sold ≈ $179.4m (-16.7m 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 ≈ $10.44. Options: 0 managers hold calls (— notional), 1 hold puts ($3.2m).

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 51Q4 22: 53Q1 23: 56Q2 23: 2929Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 202251
Q4 202253
Q1 202356
Q2 202329

Buyers vs sellers

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

Bought or addedCut or sold out
50050Q4 22: 11 bought or addedQ4 22: 14 cut or sold outQ4 22Q1 23: 19 bought or addedQ1 23: 11 cut or sold outQ1 23Q2 23: 11 bought or addedQ2 23: 44 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 20221114
Q1 20231911
Q2 20231144

Calls vs puts

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

CallsPuts
$0$1m$2m$3m$4mQ3 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: $3.2mQ2 23P/C —
Numbers
QuarterCallsPutsP/C
Q3 2022$0$0—
Q4 2022$0$0—
Q1 2023$0$0—
Q2 2023$0$3.2m—

Biggest buyers

Castle Creek Arbitrage, LLC New +107,000+107.0k
Westchester Capital Management, LLC Added +98,774+98.8k
MIZUHO SECURITIES USA LLC Added +56,543+56.5k
Tyrus Capital S.A.M. New +41,666+41.7k
WOLVERINE ASSET MANAGEMENT LLC Added +25,259+25.3k
Spartan Fund Management Inc. Added +15,332+15.3k
Meteora Capital, LLC New +14,165+14.2k
Tuttle Capital Management, LLC New +13,333+13.3k
BERKLEY W R CORP Added +4,662+4.7k
Tower Research Capital LLC (TRC) New +16+16

Biggest sellers

ARISTEIA CAPITAL, L.L.C. Sold out -1,946,341-1.9m
CANTOR FITZGERALD, L. P. Sold out -1,611,724-1.6m
Saba Capital Management, L.P. Reduced -1,347,215-1.3m
First Trust Capital Management L.P. Sold out -1,227,060-1.2m
Calamos Advisors LLC Sold out -1,000,000-1.0m
D. E. Shaw & Co., Inc. Sold out -925,763-925.8k
Periscope Capital Inc. Reduced -832,933-832.9k
Polar Asset Management Partners Inc. Reduced -747,611-747.6k
Magnetar Financial LLC Sold out -700,714-700.7k
AQR Arbitrage LLC Reduced -699,330-699.3k

Biggest calls

None

Biggest puts

Shaolin Capital Management LLC New $3.2m300.0k 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
Target Global Sponsor Ltd. 13G · exempt (held before listing) no change · filed 2025-10-02 17.4% no change 1.6m 2025-10-02
MIZUHO FINANCIAL GROUP INC 13G · institution no change · filed 2025-05-13 6.0% no change 426.8k 2025-05-13

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Westchester Capital Management, LLC 0.33% of their portfolio VALHALLA, NY 898,726898.7k $9.6m $9.6m 0.33% Added +98.8k +98,774
2 KIM, LLC 0.41% of their portfolio WICHITA, KS 450,000450.0k $4.8m $4.8m 0.41% Reduced -350.0k -350,000
3 MIZUHO SECURITIES USA LLC 0.09% of their portfolio NEW YORK, NY 256,543256.5k $2.7m $2.7m 0.09% Added +56.5k +56,543
4 Polar Asset Management Partners Inc. 0.05% of their portfolio TORONTO, A6 225,000225.0k $2.4m $2.4m 0.05% Reduced -747.6k -747,611
5 BERKLEY W R CORP 0.13% of their portfolio Greenwich, CT 204,368204.4k $2.2m $2.2m 0.13% Added +4.7k +4,662
6 Centiva Capital, LP 0.11% of their portfolio New York, NY 202,074202.1k $2.2m $2.2m 0.11% Unchanged
7 MASO CAPITAL PARTNERS Ltd 0.94% of their portfolio HONG KONG, K3 199,995200.0k $2.1m $2.1m 0.94% Unchanged
8 Periscope Capital Inc. 0.13% of their portfolio Toronto, A6 150,000150.0k $1.6m $1.6m 0.13% Reduced -832.9k -832,933
9 AQR Arbitrage LLC 0.07% of their portfolio Greenwich, CT 149,965150.0k $1.6m $1.6m 0.07% Reduced -699.3k -699,330
10 Lynwood Capital Management Inc. 1.87% of their portfolio TORONTO, A6 138,595138.6k $1.5m $1.5m 1.87% Unchanged
11 HSBC HOLDINGS PLC 0.00% of their portfolio LONDON, X0 125,000125.0k $1.3m $1.3m 0.00% Reduced -100.0k -100,000
12 WOLVERINE ASSET MANAGEMENT LLC 0.02% of their portfolio CHICAGO, IL 112,895112.9k $1.2m $1.2m 0.02% Added +25.3k +25,259
13 Castle Creek Arbitrage, LLC 0.14% of their portfolio AVON, CO 107,000107.0k $1.1m $1.1m 0.14% New
14 LMR Partners LLP 0.02% of their portfolio LONDON, X0 100,000100.0k $1.1m $1.1m 0.02% Reduced -200.0k -200,000
15 GRITSTONE ASSET MANAGEMENT LLC 1.20% of their portfolio Bethesda, MD 91,93091.9k $980.9k $980.9k 1.20% Reduced -169 -169
16 Quarry LP 0.63% of their portfolio NEW YORK, NY 91,00091.0k $971.0k $971.0k 0.63% Reduced -184.0k -184,000
17 Saba Capital Management, L.P. 0.03% of their portfolio NEW YORK, NY 72,98573.0k $778.8k $778.8k 0.03% Reduced -1.3m -1,347,215
18 Karpus Management, Inc. 0.02% of their portfolio Pittsford, NY 52,30052.3k $555.9k $555.9k 0.02% Unchanged
19 PRELUDE CAPITAL MANAGEMENT, LLC 0.04% of their portfolio NEW YORK, NY 43,00043.0k $458.8k $458.8k 0.04% Reduced -87.0k -87,000
20 Tyrus Capital S.A.M. 0.02% of their portfolio MONACO, O9 41,66641.7k $3.3k $3.3k 0.02% New
21 Spartan Fund Management Inc. 0.02% of their portfolio TORONTO, ONTARIO, Z4 29,47729.5k $95.2k $95.2k 0.02% Added +15.3k +15,332
22 Radcliffe Capital Management, L.P. 0.03% of their portfolio BALA CYNWYD, PA 28,53028.5k $304.4k $304.4k 0.03% Reduced -657.1k -657,082
23 Atlas Merchant Capital LLC 0.05% of their portfolio New York, NY 21,11021.1k $226.1k $226.1k 0.05% Unchanged
24 Virtu Financial LLC 0.01% of their portfolio New York, NY 15,72515.7k $168.0k $168.0k 0.01% Reduced -6.5k -6,458
25 Meteora Capital, LLC 0.03% of their portfolio Boca Raton, FL 14,16514.2k $151.1k $151.1k 0.03% New
26 Tuttle Capital Management, LLC 0.01% of their portfolio RIVERSIDE, CT 13,33313.3k $1.1k $1.1k 0.01% New
27 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 1616 $171 $171 0.00% New
28 CLEAR STREET LLC 0.00% of their portfolio NEW YORK, NY 33 $32 $32 0.00% New
29 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged