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.
56 hedge funds and large institutions have $82.6M 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 Q2 according to their latest regulatory filings, with 3 funds opening new positions, 8 increasing their positions, 15 reducing their positions, and 52 closing their positions.
47% less funds holding
Funds holding: 105 → 56 (-49)
47% less repeat investments, than reductions
Existing positions increased: 8 | Existing positions reduced: 15
63% less capital invested
Capital invested by funds: $225M → $82.6M (-$142M)
94% less first-time investments, than exits
New positions opened: 3 | Existing positions closed: 52
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
GCL
Glazer Capital LLC
New York
|
+$2.72M |
| 2 |
SMA
Sage Mountain Advisors
Atlanta,
Georgia
|
+$1.83M |
| 3 |
WC
Wealthspring Capital
West Harrison,
New York
|
+$1.27M |
| 4 |
SRF
Silver Rock Financial
Los Angeles,
California
|
+$522K |
| 5 |
Jane Street
New York
|
+$406K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Adage Capital Partners
Boston,
Massachusetts
|
-$20M |
| 2 |
HCM
Highbridge Capital Management
New York
|
-$11.4M |
| 3 |
TGHSA
TPG Group Holdings (SBS) Advisors
Fort Worth,
Texas
|
-$10M |
| 4 |
Nomura Holdings
Tokyo,
Japan
|
-$5.77M |
| 5 |
Wellington Management Group
Boston,
Massachusetts
|
-$5.14M |
PICC.U Hedge Fund Activity: Q2 2021 in Review
56 of the 5,746 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 2021, worth a combined $82.6M — down 63% from $225M a quarter earlier.
Sellers outnumbered buyers: 52 funds closed out of PICC.U and 3 opened new positions — a net loss of 49 holders — while 15 trimmed existing stakes and 8 added.
The largest buyer was Glazer Capital LLC, adding an estimated $2.72M. The largest seller was Adage Capital Partners, exiting entirely with an estimated $20M sold.
- 56 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 2021, down from 105 in Q1 2021.
- Funds reported $82.6M 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 2021, down 63% 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 2021 and 52 closed out, a net change of -49 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 2021 was Glazer Capital LLC, an estimated $2.72M 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 2021 was Adage Capital Partners, an estimated $20M sold.
Based on aggregated 13F filings for Q2 2021.