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.
42 hedge funds and large institutions have $74M 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 2021 Q3 according to their latest regulatory filings, with 4 funds opening new positions, 7 increasing their positions, 9 reducing their positions, and 18 closing their positions.
10% less capital invested
Capital invested by funds: $82.6M → $74M (-$8.53M)
22% less repeat investments, than reductions
Existing positions increased: 7 | Existing positions reduced: 9
25% less funds holding
Funds holding: 56 → 42 (-14)
78% less first-time investments, than exits
New positions opened: 4 | Existing positions closed: 18
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CAC
Cowen and Company
New York
|
+$991K |
| 2 |
Parallax Volatility Advisers
San Francisco,
California
|
+$687K |
| 3 |
WC
Wealthspring Capital
West Harrison,
New York
|
+$559K |
| 4 |
Janus Henderson Group
London,
United Kingdom
|
+$174K |
| 5 |
AGM
Alpine Global Management
New York
|
+$119K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BCM
BlueCrest Capital Management
St Helier,
Jersey
|
-$5M |
| 2 |
Citadel Advisors
Miami,
Florida
|
-$4.24M |
| 3 |
CL
CSS LLC
Chicago,
Illinois
|
-$3.14M |
| 4 |
Millennium Management
New York
|
-$2.87M |
| 5 |
PMAM
Picton Mahoney Asset Management
Toronto,
Ontario, Canada
|
-$2.5M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
ESCM
51
Echo Street Capital Management
New York
| – | -$1M | -100,000 | Closed |
|
|
SCM
52
Shaolin Capital Management
Miami,
Florida
| – | -$1M | -100,000 | Closed |
|
53
Citigroup
New York
| – | -$761K | -76,149 | Closed |
|
|
MAM
54
Myriad Asset Management
North Point,
Hong Kong
| – | -$492K | -49,184 | Closed |
|
|
RA
55
Ramius Advisors
New York
| – | -$433K | -43,298 | Closed |
|
|
CCA
56
Castle Creek Arbitrage
Avon,
Colorado
| – | -$150K | -15,000 | Closed |
|
|
VCM
57
Vivaldi Capital Management
Chicago,
Illinois
| – | -$150K | -15,000 | Closed |
|
|
CCM
58
CAAS Capital Management
New York
| – | -$100K | -10,000 | Closed |
|
|
DCM
59
DG Capital Management
New York
| – | -$10K | -1,000 | Closed |
|
|
SGAM
60
Seaport Global Asset Management
New York
| – | -$10K | -1,000 | Closed |
|
PICC.U Hedge Fund Activity: Q3 2021 in Review
42 of the 5,713 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 Q3 2021, worth a combined $74M — down 10% from $82.6M a quarter earlier.
Sellers outnumbered buyers: 18 funds closed out of PICC.U and 4 opened new positions — a net loss of 14 holders — while 9 trimmed existing stakes and 7 added.
The largest buyer was Cowen and Company, opening a new position worth an estimated $991K. The largest seller was BlueCrest Capital Management, exiting entirely with an estimated $5M sold.
- 42 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 Q3 2021, down from 56 in Q2 2021.
- Funds reported $74M 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 Q3 2021, down 10% quarter-over-quarter.
- 4 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 Q3 2021 and 18 closed out, a net change of -14 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 Q3 2021 was Cowen and Company, an estimated $991K 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 Q3 2021 was BlueCrest Capital Management, an estimated $5M sold.
Based on aggregated 13F filings for Q3 2021.