Pivotal Investment Corporation III Units, each consisting of one share of Class A common stock and one-fifth of one redeemable warrant
PICC.U
PICC.U was delisted on the 9th of February, 2023.
30 hedge funds and large institutions have $19.4M 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 Q2 according to their latest regulatory filings, with 3 funds opening new positions, 2 increasing their positions, 8 reducing their positions, and 8 closing their positions.
14% less funds holding
Funds holding: 35 → 30 (-5)
54% less capital invested
Capital invested by funds: $42.3M → $19.4M (-$22.9M)
63% less first-time investments, than exits
New positions opened: 3 | Existing positions closed: 8
75% less repeat investments, than reductions
Existing positions increased: 2 | Existing positions reduced: 8
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CSS
Cubist Systematic Strategies
Stamford,
Connecticut
|
+$251K |
| 2 |
MC
Meteora Capital
Boca Raton,
Florida
|
+$239K |
| 3 |
Jane Street
New York
|
+$5.57K |
| 4 |
SIA
Schechter Investment Advisors
Birmingham,
Michigan
|
+$5.02K |
| 5 |
CS
Clear Street
New York
|
+$984 |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MF
Magnetar Financial
Evanston,
Illinois
|
-$1.69M |
| 2 |
PC
Periscope Capital
Toronto,
Ontario, Canada
|
-$771K |
| 3 |
PMAM
Picton Mahoney Asset Management
Toronto,
Ontario, Canada
|
-$771K |
| 4 |
SMA
Sage Mountain Advisors
Atlanta,
Georgia
|
-$743K |
| 5 |
TAL
TIG Advisors LLC
New York
|
-$485K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
WAM
26
Wolverine Asset Management
Chicago,
Illinois
| $21K | -$984 | -100 | -4% |
|
27
UBS Group
Zurich,
Switzerland
| $18K | -$189K | -19,230 | -91% |
|
|
MF
28
Magnetar Financial
Evanston,
Illinois
| $17.7K | -$1.69M | -171,440 | -9% |
|
|
CCM
29
Condor Capital Management
Martinsville,
New Jersey
| $11K | -$2.17K | -220 | -17% |
|
|
CS
30
Clear Street
New York
| $1K | +$984 | +100 | New |
|
|
PC
31
Periscope Capital
Toronto,
Ontario, Canada
| – | -$771K | -78,400 | Closed |
|
|
PMAM
32
Picton Mahoney Asset Management
Toronto,
Ontario, Canada
| – | -$771K | -78,400 | Closed |
|
33
Royal Bank of Canada
Toronto,
Ontario, Canada
| – | -$323K | -32,794 | Closed |
|
|
CL
34
CSS LLC
Chicago,
Illinois
| – | -$146K | -14,854 | Closed |
|
|
AA
35
AQR Arbitrage
Greenwich,
Connecticut
| – | -$134K | -13,760 | Closed |
|
|
VF
36
Virtu Financial
New York
| – | -$104K | -10,543 | Closed |
|
|
OCAM
37
Owl Creek Asset Management
New York
| – | -$99K | -10,000 | Closed |
|
|
RCM
38
Robinson Capital Management
Grosse Pointe Farms,
Michigan
| – | -$5K | -528 | Closed |
|
PICC.U Hedge Fund Activity: Q2 2022 in Review
30 of the 5,937 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 Q2 2022, worth a combined $19.4M — down 54% from $42.3M a quarter earlier.
Sellers outnumbered buyers: 8 funds closed out of PICC.U and 3 opened new positions — a net loss of 5 holders — while 8 trimmed existing stakes and 2 added.
The largest buyer was Cubist Systematic Strategies, opening a new position worth an estimated $251K. The largest seller was Magnetar Financial, cutting an estimated $1.69M.
- 30 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 Q2 2022, down from 35 in Q1 2022.
- Funds reported $19.4M 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 Q2 2022, down 54% quarter-over-quarter.
- 3 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 Q2 2022 and 8 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 Q2 2022 was Cubist Systematic Strategies, an estimated $251K 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 Q2 2022 was Magnetar Financial, an estimated $1.69M sold.
Based on aggregated 13F filings for Q2 2022.