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.
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.
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
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PC
Periscope Capital
Toronto,
Ontario, Canada
|
+$770K |
| 2 |
PMAM
Picton Mahoney Asset Management
Toronto,
Ontario, Canada
|
+$770K |
| 3 |
AA
AQR Arbitrage
Greenwich,
Connecticut
|
+$135K |
| 4 |
VF
Virtu Financial
New York
|
+$104K |
| 5 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
+$22.8K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AC
Aristeia Capital
Greenwich,
Connecticut
|
-$11.4M |
| 2 |
Parallax Volatility Advisers
San Francisco,
California
|
-$4.93M |
| 3 |
SRCM
Sage Rock Capital Management
New York
|
-$3.66M |
| 4 |
FTCM
First Trust Capital Management
Chicago,
Illinois
|
-$1.57M |
| 5 |
CAC
Cowen and Company
New York
|
-$990K |
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.