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COVAU

COVA Acquisition Corp. Unit
COVAU

Delisted

COVAU was delisted on the 20th of December, 2022.

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53 hedge funds and large institutions have $74.7M invested in COVA Acquisition Corp. Unit in 2021 Q2 according to their latest regulatory filings, with 5 funds opening new positions, 6 increasing their positions, 15 reducing their positions, and 51 closing their positions.

New
Increased
Maintained
Reduced
Closed

46% less funds holding

Funds holding: 99 → 53 (-46)

60% less repeat investments, than reductions

Existing positions increased: 6 | Existing positions reduced: 15

65% less capital invested

Capital invested by funds: $216M → $74.7M (-$141M)

90% less first-time investments, than exits

New positions opened: 5 | Existing positions closed: 51

Holders
53
Holders Change
-46
Holders Change %
-46.46%
% of All Funds
0.92%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
5
Increased
6
Reduced
15
Closed
51
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
FPA
First Pacific Advisors
California
+$4.05M
2
PMAM
Picton Mahoney Asset Management
Ontario, Canada
+$1.5M
3
VF
Virtu Financial
New York
+$483K
4
HIM
HGC Investment Management
Ontario, Canada
+$251K
5
LCM
Landscape Capital Management
New Jersey
+$220K

Top Sellers

Rank Fund Capital Flow
1
CCA
Castle Creek Arbitrage
Colorado
-$12M
2
Marshall Wace
Marshall Wace
United Kingdom
-$8.27M
3
Nomura Holdings
Nomura Holdings
Japan
-$6.67M
4
RCM
Radcliffe Capital Management
Pennsylvania
-$6.47M
5
PC
Periscope Capital
Ontario, Canada
-$6.03M
Name Holding Trade Value Shares
Change 		Change in
Stake
FTCM
76
Fir Tree Capital Management
New York
– -$2M -200,540 Closed
WAM
77
Weiss Asset Management
Massachusetts
– -$1.65M -165,949 Closed
SCM
78
Saba Capital Management
New York
– -$1.5M -150,906 Closed
CP
79
Covalent Partners
Massachusetts
– -$1.49M -150,000 Closed
Healthcare of Ontario Pension Plan (HOOPP) Trust Fund
80
Healthcare of Ontario Pension Plan (HOOPP) Trust Fund
Ontario, Canada
– -$1.49M -150,000 Closed
SCC
81
Spring Creek Capital
Kansas
– -$1.49M -150,000 Closed
TCM
82
Tenor Capital Management
New York
– -$1.49M -150,000 Closed
DCM
83
DG Capital Management
New York
– -$1.19M -120,000 Closed
AC
84
Athanor Capital
New York
– -$995K -100,000 Closed
Capstone Investment Advisors
85
Capstone Investment Advisors
New York
– -$995K -100,000 Closed
CC
86
Covalis Capital
United Kingdom
– -$995K -100,000 Closed
LP
87
LMR Partners
United Kingdom
– -$995K -100,000 Closed
SC
88
Sculptor Capital
New York
– -$995K -100,000 Closed
PI
89
PEAK6 Investments
Illinois
– -$995K -99,989 Closed
JGC
90
J. Goldman & Co
New York
– -$945K -94,944 Closed
CC
91
Centiva Capital
New York
– -$875K -87,901 Closed
WA
92
Whitebox Advisors
Minnesota
– -$746K -75,000 Closed
AA
93
AQR Arbitrage
Connecticut
– -$528K -53,100 Closed
CCM
94
CAAS Capital Management
New York
– -$498K -50,000 Closed
WRBC
95
W.R. Berkley Corp
Connecticut
– -$489K -49,126 Closed
BCM
96
Basso Capital Management
Connecticut
– -$440K -44,263 Closed
WC
97
Wexford Capital
Florida
– -$398K -40,000 Closed
Goldman Sachs
98
Goldman Sachs
New York
– -$325K -32,658 Closed
DCM
99
Dupont Capital Management
Delaware
– -$249K -25,000 Closed
OAC
100
OMERS Administration Corp
Ontario, Canada
– -$249K -25,000 Closed
1 2 3
4
5

COVAU Hedge Fund Activity: Q2 2021 in Review

53 of the 5,746 institutional investors tracked by Wall St. Rank reported a position in COVA Acquisition Corp. Unit (COVAU) for Q2 2021, worth a combined $74.7M — down 65% from $216M a quarter earlier.

Sellers outnumbered buyers: 51 funds closed out of COVAU and 5 opened new positions — a net loss of 46 holders — while 15 trimmed existing stakes and 6 added.

The largest buyer was First Pacific Advisors, opening a new position worth an estimated $4.05M. The largest seller was Castle Creek Arbitrage, exiting entirely with an estimated $12M sold.

  • 53 institutional investors held COVA Acquisition Corp. Unit (COVAU) as of Q2 2021, down from 99 in Q1 2021.
  • Funds reported $74.7M of COVA Acquisition Corp. Unit stock for Q2 2021, down 65% quarter-over-quarter.
  • 5 funds opened new COVA Acquisition Corp. Unit positions in Q2 2021 and 51 closed out, a net change of -46 holders.
  • The largest COVA Acquisition Corp. Unit buyer in Q2 2021 was First Pacific Advisors, an estimated $4.05M added.
  • The largest COVA Acquisition Corp. Unit seller in Q2 2021 was Castle Creek Arbitrage, an estimated $12M sold.

Based on aggregated 13F filings for Q2 2021.