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.
3 hedge funds and large institutions have $749K 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 2023 Q1 according to their latest regulatory filings, with 1 funds opening new positions, 1 increasing their positions, 0 reducing their positions, and 4 closing their positions.
48% less capital invested
Capital invested by funds: $1.44M → $749K (-$691K)
50% less funds holding
Funds holding: 6 → 3 (-3)
75% less first-time investments, than exits
New positions opened: 1 | Existing positions closed: 4
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CS
Clear Street
New York
|
+$259K |
| 2 |
LIM
Longfellow Investment Management
Boston,
Massachusetts
|
+$221K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CCM
Connective Capital Management
Palo Alto,
California
|
-$692K |
| 2 |
WC
Wealthspring Capital
West Harrison,
New York
|
-$329K |
| 3 |
AGM
Alpine Global Management
New York
|
-$121K |
| 4 |
UBS Group
Zurich,
Switzerland
|
-$20.1K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
CS
1
Clear Street
New York
| $306K | +$259K | +25,917 | +520% |
|
|
SIA
2
Schechter Investment Advisors
Birmingham,
Michigan
| $223K | – | – | – |
|
|
LIM
3
Longfellow Investment Management
Boston,
Massachusetts
| $220K | +$221K | +22,136 | New |
|
|
CCM
4
Connective Capital Management
Palo Alto,
California
| – | -$692K | -68,588 | Closed |
|
|
WC
5
Wealthspring Capital
West Harrison,
New York
| – | -$329K | -32,624 | Closed |
|
|
AGM
6
Alpine Global Management
New York
| – | -$121K | -11,969 | Closed |
|
|
7
UBS Group
Zurich,
Switzerland
| – | -$20.1K | -1,995 | Closed |
|
PICC.U Hedge Fund Activity: Q1 2023 in Review
3 of the 6,276 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 2023, worth a combined $749K — down 48% from $1.44M a quarter earlier.
Sellers outnumbered buyers: 4 funds closed out of PICC.U and 1 opened new positions — a net loss of 3 holders — while 0 trimmed existing stakes and 1 added.
The largest buyer was Clear Street, adding an estimated $259K. The largest seller was Connective Capital Management, exiting entirely with an estimated $692K sold.
- 3 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 2023, down from 6 in Q4 2022.
- Funds reported $749K 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 2023, down 48% quarter-over-quarter.
- 1 fund 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 2023 and 4 closed out, a net change of -3 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 2023 was Clear Street, an estimated $259K 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 2023 was Connective Capital Management, an estimated $692K sold.
Based on aggregated 13F filings for Q1 2023.