Pivotal Investment Corporation III
PICC
PICC was delisted on the 7th of February, 2023.
65 hedge funds and large institutions have $208M invested in Pivotal Investment Corporation III in 2022 Q4 according to their latest regulatory filings, with 13 funds opening new positions, 18 increasing their positions, 6 reducing their positions, and 28 closing their positions.
200% more repeat investments, than reductions
Existing positions increased: 18 | Existing positions reduced: 6
15% less capital invested
Capital invested by funds: $244M → $208M (-$36.2M)
20% less funds holding
Funds holding: 81 → 65 (-16)
54% less first-time investments, than exits
New positions opened: 13 | Existing positions closed: 28
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BlackRock
New York
|
+$5.5M |
| 2 |
KIM
Karpus Investment Management
Pittsford,
New York
|
+$5.42M |
| 3 |
PAMP
Polar Asset Management Partners
Toronto,
Ontario, Canada
|
+$4.82M |
| 4 |
DFCM
Dark Forest Capital Management
San Juan,
Puerto Rico
|
+$4.13M |
| 5 |
D.E. Shaw & Co
New York
|
+$2.96M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MF
Magnetar Financial
Evanston,
Illinois
|
-$19.8M |
| 2 |
HCM
Highbridge Capital Management
New York
|
-$12M |
| 3 |
AC
Aristeia Capital
Greenwich,
Connecticut
|
-$11.8M |
| 4 |
GCL
Glazer Capital LLC
New York
|
-$6.25M |
| 5 |
WAM
Weiss Asset Management
Boston,
Massachusetts
|
-$5.45M |
PICC Hedge Fund Activity: Q4 2022 in Review
65 of the 6,237 institutional investors tracked by Wall St. Rank reported a position in Pivotal Investment Corporation III (PICC) for Q4 2022, worth a combined $208M — down 15% from $244M a quarter earlier.
Sellers outnumbered buyers: 28 funds closed out of PICC and 13 opened new positions — a net loss of 15 holders — while 6 trimmed existing stakes and 18 added.
The largest buyer was BlackRock, opening a new position worth an estimated $5.5M. The largest seller was Magnetar Financial, exiting entirely with an estimated $19.8M sold.
- 65 institutional investors held Pivotal Investment Corporation III (PICC) as of Q4 2022, down from 81 in Q3 2022.
- Funds reported $208M of Pivotal Investment Corporation III stock for Q4 2022, down 15% quarter-over-quarter.
- 13 funds opened new Pivotal Investment Corporation III positions in Q4 2022 and 28 closed out, a net change of -15 holders.
- The largest Pivotal Investment Corporation III buyer in Q4 2022 was BlackRock, an estimated $5.5M added.
- The largest Pivotal Investment Corporation III seller in Q4 2022 was Magnetar Financial, an estimated $19.8M sold.
Based on aggregated 13F filings for Q4 2022.