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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

Delisted

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.

New
Increased
Maintained
Reduced
Closed

13% less funds holding

Funds holding: 4035 (-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
Name Holding Trade Value Shares
Change
Change in
Stake
MF
1
Magnetar Financial
Illinois
$19.5M -$138K -14,100 -0.7%
BlackRock
2
BlackRock
New York
$5.54M -$16.6K -1,685 -0.3%
TAL
3
TIG Advisors LLC
New York
$2.11M
WC
4
Wealthspring Capital
New York
$1.56M -$8.98K -914 -0.6%
SRF
5
Silver Rock Financial
California
$1.55M
SMA
6
Sage Mountain Advisors
Georgia
$1.52M -$109K -11,050 -7%
WCMNY
7
Westchester Capital Management (New York)
New York
$1.48M
SIA
8
Schechter Investment Advisors
Michigan
$1.06M -$6.52K -664 -0.6%
HF
9
HRT Financial
New York
$985K
Susquehanna International Group
10
Susquehanna International Group
Pennsylvania
$789K
PC
11
Periscope Capital
Ontario, Canada
$771K +$770K +78,400 New
PMAM
12
Picton Mahoney Asset Management
Ontario, Canada
$771K +$770K +78,400 New
Janus Henderson Group
13
Janus Henderson Group
United Kingdom
$555K
Millennium Management
14
Millennium Management
New York
$532K -$15.6K -1,590 -3%
Jane Street
15
Jane Street
New York
$505K -$167 -17 -0%
ECM
16
ExodusPoint Capital Management
New York
$493K
Royal Bank of Canada
17
Royal Bank of Canada
Ontario, Canada
$323K
SMC
18
Smith, Moore & Co
Missouri
$298K
GCIA
19
Gabelli & Co Investment Advisers
New York
$253K
GF
20
Gabelli Funds
New York
$240K
UBS Group
21
UBS Group
Switzerland
$206K +$2.18K +222 +1%
E
22
Ergoteles
New York
$185K
Calamos Advisors
23
Calamos Advisors
Illinois
$147K
CL
24
CSS LLC
Illinois
$146K
AA
25
AQR Arbitrage
Connecticut
$134K +$135K +13,760 New

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.