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CCXX.U

Churchill Capital Corp III Units, each consisting of one share of Class A Common Stock and one-fourt
CCXX.U

Delisted

CCXX.U was delisted on the 8th of October, 2020.

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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.

New
Increased
Maintained
Reduced
Closed

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

Holders
59
Holders Change
-29
Holders Change %
-32.95%
% of All Funds
1.21%
Holding in Top 10
9
Holding in Top 10 Change
-5
Holding in Top 10 Change %
-35.71%
% of All Funds
0.18%
New
6
Increased
8
Reduced
19
Closed
35
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
MI
MMCAP International
Cayman Islands
+$52.3M
2
BCM
Beryl Capital Management
California
+$2.69M
3
WRBC
W.R. Berkley Corp
Connecticut
+$1.04M
4
CAC
Cowen and Company
New York
+$962K
5
BI
Bulldog Investors
New Jersey
+$523K

Top Sellers

1
LA
Linden Advisors
New York
-$60.5M
2
UOC
UBS O'Connor
Illinois
-$46.4M
3
Hudson Bay Capital Management
Hudson Bay Capital Management
Connecticut
-$43.2M
4
CS
Credit Suisse
Switzerland
-$30.9M
5
SSA
Schonfeld Strategic Advisors
New York
-$30M
Name Holding Trade Value Shares
Change 		Change in
Stake
MF
1
Magnetar Financial
Illinois
$124M – – –
HIM
2
HGC Investment Management
Ontario, Canada
$62.6M -$10.1M -967,905 -15%
MI
3
MMCAP International
Cayman Islands
$56.5M +$52.3M +5,000,000 New
BCM
4
BlueCrest Capital Management
Jersey
$55.3M – – –
AIMCA
5
Alberta Investment Management Corp (AIMCo)
Alberta, Canada
$46.4M – – –
PAMP
6
Polar Asset Management Partners
Ontario, Canada
$36.1M -$17.8M -1,700,000 -35%
DKCM
7
Davidson Kempner Capital Management
New York
$29.7M -$2.88M -275,000 -9%
GCL
8
Glazer Capital LLC
New York
$26.1M -$14.9M -1,428,022 -38%
Millennium Management
9
Millennium Management
New York
$23.8M -$11.9M -1,137,217 -35%
PC
10
Periscope Capital
Ontario, Canada
$21.9M -$21M -2,008,800 -51%
ECM
11
Element Capital Management
New York
$21.5M -$1.01M -96,960 -5%
Blackstone Inc
12
Blackstone Inc
New York
$19.8M – – –
KC
13
Kepos Capital
New York
$14M – – –
FCIM
14
Fairview Capital Investment Management
California
$12.4M -$4.18M -400,000 -27%
BC
15
Brahman Capital
New York
$11.3M – – –
JP Morgan Chase
16
JP Morgan Chase
New York
$10.9M -$2.45M -234,338 -20%
AMH
17
Apollo Management Holdings
New York
$9.75M – – –
LIM
18
Longfellow Investment Management
Massachusetts
$9.68M -$1.67M -159,340 -16%
WMSA
19
Weiss Multi-Strategy Advisers
New York
$5.66M +$49.9K +4,768 +1%
Marshall Wace
20
Marshall Wace
United Kingdom
$5.66M – – –
Alyeska Investment Group
21
Alyeska Investment Group
Illinois
$4.19M – – –
BCM
22
Beryl Capital Management
California
$4.04M +$2.69M +257,286 +257%
BGC
23
Birch Grove Capital
New York
$3.39M – – –
GL
24
Governors Lane
New York
$3.39M – – –
PSAMP
25
P. Schoenfeld Asset Management (PSAM)
New York
$3.29M – – –
1
2 3 4

CCXX.U Hedge Fund Activity: Q2 2020 in Review

59 of the 4,877 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.