Churchill Capital Corp III Units, each consisting of one share of Class A Common Stock and one-fourt
CCXX.U
CCXX.U was delisted on the 8th of October, 2020.
59 hedge funds and large institutions have $657M invested in Churchill Capital Corp III Units, each consisting of one share of Class A Common Stock and one-fourt in 2020 Q2 according to their latest regulatory filings, with 6 funds opening new positions, 8 increasing their positions, 19 reducing their positions, and 35 closing their positions.
33% less funds holding
Funds holding: 88 → 59 (-29)
34% less capital invested
Capital invested by funds: $1B → $657M (-$343M)
36% less funds holding in top 10
Funds holding in top 10: 14 → 9 (-5)
58% less repeat investments, than reductions
Existing positions increased: 8 | Existing positions reduced: 19
83% less first-time investments, than exits
New positions opened: 6 | Existing positions closed: 35
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MI
MMCAP International
Grand Cayman,
Cayman Islands
|
+$52.3M |
| 2 |
BCM
Beryl Capital Management
Redondo Beach,
California
|
+$2.69M |
| 3 |
WRBC
W.R. Berkley Corp
Greenwich,
Connecticut
|
+$1.04M |
| 4 |
CAC
Cowen and Company
New York
|
+$962K |
| 5 |
BI
Bulldog Investors
Saddle Brook,
New Jersey
|
+$523K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
LA
Linden Advisors
New York
|
-$60.5M |
| 2 |
UOC
UBS O'Connor
Chicago,
Illinois
|
-$46.4M |
| 3 |
Hudson Bay Capital Management
Stamford,
Connecticut
|
-$43.2M |
| 4 |
CS
Credit Suisse
Zurich,
Switzerland
|
-$30.9M |
| 5 |
SSA
Schonfeld Strategic Advisors
New York
|
-$30M |
CCXX.U Hedge Fund Activity: Q2 2020 in Review
59 of the 4,878 institutional investors tracked by Wall St. Rank reported a position in Churchill Capital Corp III Units, each consisting of one share of Class A Common Stock and one-fourt (CCXX.U) for Q2 2020, worth a combined $657M — down 34% from $1B a quarter earlier.
Sellers outnumbered buyers: 35 funds closed out of CCXX.U and 6 opened new positions — a net loss of 29 holders — while 19 trimmed existing stakes and 8 added.
The largest buyer was MMCAP International, opening a new position worth an estimated $52.3M. The largest seller was Linden Advisors, exiting entirely with an estimated $60.5M sold.
- 59 institutional investors held Churchill Capital Corp III Units, each consisting of one share of Class A Common Stock and one-fourt (CCXX.U) as of Q2 2020, down from 88 in Q1 2020.
- Funds reported $657M of Churchill Capital Corp III Units, each consisting of one share of Class A Common Stock and one-fourt stock for Q2 2020, down 34% quarter-over-quarter.
- 6 funds opened new Churchill Capital Corp III Units, each consisting of one share of Class A Common Stock and one-fourt positions in Q2 2020 and 35 closed out, a net change of -29 holders.
- The largest Churchill Capital Corp III Units, each consisting of one share of Class A Common Stock and one-fourt buyer in Q2 2020 was MMCAP International, an estimated $52.3M added.
- The largest Churchill Capital Corp III Units, each consisting of one share of Class A Common Stock and one-fourt seller in Q2 2020 was Linden Advisors, an estimated $60.5M sold.
Based on aggregated 13F filings for Q2 2020.