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PICC.U

Pivotal Investment Corporation III Units, each consisting of one share of Class A common stock and one-fifth of one redeemable warrant
PICC.U

Delisted

PICC.U was delisted on the 9th of February, 2023.

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35 hedge funds and large institutions have $42.3M invested in Pivotal Investment Corporation III Units, each consisting of one share of Class A common stock and one-fifth of one redeemable warrant in 2022 Q1 according to their latest regulatory filings, with 5 funds opening new positions, 2 increasing their positions, 7 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

13% less funds holding

Funds holding: 40 → 35 (-5)

35% less capital invested

Capital invested by funds: $65.1M → $42.3M (-$22.8M)

50% less first-time investments, than exits

New positions opened: 5 | Existing positions closed: 10

71% less repeat investments, than reductions

Existing positions increased: 2 | Existing positions reduced: 7

Holders
35
Holders Change
-5
Holders Change %
-12.5%
% of All Funds
0.55%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
5
Increased
2
Reduced
7
Closed
10
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
PC
Periscope Capital
Ontario, Canada
+$770K
2
PMAM
Picton Mahoney Asset Management
Ontario, Canada
+$770K
3
AA
AQR Arbitrage
Connecticut
+$135K
4
VF
Virtu Financial
New York
+$104K
5
WAM
Wolverine Asset Management
Illinois
+$22.8K

Top Sellers

Rank Fund Capital Flow
1
AC
Aristeia Capital
Connecticut
-$11.4M
2
Parallax Volatility Advisers
Parallax Volatility Advisers
California
-$4.93M
3
SRCM
Sage Rock Capital Management
New York
-$3.66M
4
FTCM
First Trust Capital Management
Illinois
-$1.57M
5
CAC
Cowen and Company
New York
-$990K
Name Holding Trade Value Shares
Change 		Change in
Stake
BFM
26
Boothbay Fund Management
New York
$130K +$2.78K +283 +2%
SIM
27
Sandia Investment Management
Massachusetts
$105K – – –
VF
28
Virtu Financial
New York
$104K +$104K +10,543 New
OCAM
29
Owl Creek Asset Management
New York
$99K – – –
CAM
30
Cresset Asset Management
Illinois
$98K – – –
LC
31
Littlejohn & Co
Connecticut
$49K – – –
WAM
32
Wolverine Asset Management
Illinois
$22K +$22.8K +2,322 New
CCM
33
Condor Capital Management
New Jersey
$13K – – –
RCM
34
Robinson Capital Management
Michigan
$5K – – –
AGM
35
Alpine Global Management
New York
$117 – – –
AC
36
Aristeia Capital
Connecticut
– -$11.4M -1,150,000 Closed
Parallax Volatility Advisers
37
Parallax Volatility Advisers
California
– -$4.93M -498,059 Closed
SRCM
38
Sage Rock Capital Management
New York
– -$3.66M -370,000 Closed
FTCM
39
First Trust Capital Management
Illinois
– -$1.57M -158,400 Closed
CAC
40
Cowen and Company
New York
– -$990K -100,000 Closed
HP
41
Hound Partners
New York
– -$494K -49,867 Closed
Citigroup
42
Citigroup
New York
– -$310K -31,297 Closed
AS
43
Altshuler Shaham
Israel
– -$297K -30,000 Closed
CC
44
Caxton Corporation
New Jersey
– -$166K -16,800 Closed
AA
45
Ancora Advisors
Ohio
– -$111K -11,250 Closed
1
2

PICC.U Hedge Fund Activity: Q1 2022 in Review

35 of the 6,341 institutional investors tracked by Wall St. Rank reported a position in Pivotal Investment Corporation III Units, each consisting of one share of Class A common stock and one-fifth of one redeemable warrant (PICC.U) for Q1 2022, worth a combined $42.3M — down 35% from $65.1M a quarter earlier.

Sellers outnumbered buyers: 10 funds closed out of PICC.U and 5 opened new positions — a net loss of 5 holders — while 7 trimmed existing stakes and 2 added.

The largest buyer was Periscope Capital, opening a new position worth an estimated $770K. The largest seller was Aristeia Capital, exiting entirely with an estimated $11.4M sold.

  • 35 institutional investors held Pivotal Investment Corporation III Units, each consisting of one share of Class A common stock and one-fifth of one redeemable warrant (PICC.U) as of Q1 2022, down from 40 in Q4 2021.
  • Funds reported $42.3M of Pivotal Investment Corporation III Units, each consisting of one share of Class A common stock and one-fifth of one redeemable warrant stock for Q1 2022, down 35% quarter-over-quarter.
  • 5 funds opened new Pivotal Investment Corporation III Units, each consisting of one share of Class A common stock and one-fifth of one redeemable warrant positions in Q1 2022 and 10 closed out, a net change of -5 holders.
  • The largest Pivotal Investment Corporation III Units, each consisting of one share of Class A common stock and one-fifth of one redeemable warrant buyer in Q1 2022 was Periscope Capital, an estimated $770K added.
  • The largest Pivotal Investment Corporation III Units, each consisting of one share of Class A common stock and one-fifth of one redeemable warrant seller in Q1 2022 was Aristeia Capital, an estimated $11.4M sold.

Based on aggregated 13F filings for Q1 2022.