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XRPN

Armada Acquisition Corp II
XRPN

49 hedge funds and large institutions have $208M invested in Armada Acquisition Corp II in 2025 Q3 according to their latest regulatory filings, with 22 funds opening new positions, 6 increasing their positions, 11 reducing their positions, and 6 closing their positions.

New
Increased
Maintained
Reduced
Closed

267% more first-time investments, than exits

New positions opened: 22 | Existing positions closed: 6

62% more capital invested

Capital invested by funds: $129M → $208M (+$79.9M)

50.68% more ownership

Funds ownership: 55.72% → 106.4% (+51%)

48% more funds holding

Funds holding: 33 → 49 (+16)

45% less repeat investments, than reductions

Existing positions increased: 6 | Existing positions reduced: 11

Holders
49
Holders Change
+16
Holders Change %
+48.48%
% of All Funds
0.64%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
22
Increased
6
Reduced
11
Closed
6
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
MC
Meteora Capital
Florida
+$18.2M
2
TCM
Tenor Capital Management
New York
+$15.3M
3
HCI
Harraden Circle Investments
New York
+$12.8M
4
AA
AQR Arbitrage
Connecticut
+$11.3M
5
KIM
Karpus Investment Management
New York
+$5.58M

Top Sellers

Rank Fund Capital Flow
1
WAM
Wolverine Asset Management
Illinois
-$8.16M
2
MSU
Mizuho Securities USA
New York
-$5.52M
3
Verition Fund Management
Verition Fund Management
Connecticut
-$4.67M
4
GCL
Glazer Capital LLC
New York
-$3.98M
5
SCM
Shaolin Capital Management
Florida
-$2.55M
Name Holding Trade Value Shares
Change 		Change in
Stake
MC
1
Meteora Capital
Florida
$18.6M +$18.2M +1,781,085 New
TCM
2
Tenor Capital Management
New York
$15.7M +$15.3M +1,500,000 New
HCI
3
Harraden Circle Investments
New York
$13.1M +$12.8M +1,256,800 New
AA
4
AQR Arbitrage
Connecticut
$11.6M +$11.3M +1,108,382 New
MF
5
Magnetar Financial
Illinois
$8.5M – – –
LA
6
Linden Advisors
New York
$8.35M – – –
LP
7
LMR Partners
United Kingdom
$8.35M – – –
Healthcare of Ontario Pension Plan (HOOPP) Trust Fund
8
Healthcare of Ontario Pension Plan (HOOPP) Trust Fund
Ontario, Canada
$7.31M – – –
Two Sigma Investments
9
Two Sigma Investments
New York
$6.93M – – –
WCMNY
10
Westchester Capital Management (New York)
New York
$6.61M +$3.91M +383,400 +153%
Hudson Bay Capital Management
11
Hudson Bay Capital Management
Connecticut
$6.41M – – –
PAMP
12
Polar Asset Management Partners
Ontario, Canada
$6.26M – – –
Toronto Dominion Bank
13
Toronto Dominion Bank
Ontario, Canada
$5.93M +$3.25M +318,700 +127%
KIM
14
Karpus Investment Management
New York
$5.71M +$5.58M +547,500 New
RCM
15
Rivernorth Capital Management
Florida
$5.28M +$5.16M +506,333 New
AC
16
Aristeia Capital
Connecticut
$5.22M – – –
FTCM
17
First Trust Capital Management
Illinois
$5.22M – – –
WC
18
Wealthspring Capital
New York
$5.08M +$4.96M +486,740 New
RCM
19
Radcliffe Capital Management
Pennsylvania
$5M -$569K -55,839 -10%
Goldman Sachs
20
Goldman Sachs
New York
$3.82M +$3.74M +366,348 New
CCM
21
Context Capital Management
California
$3.65M -$510K -50,000 -13%
WRBC
22
W.R. Berkley Corp
Connecticut
$3.55M +$507K +49,770 +17%
SCM
23
Shaolin Capital Management
Florida
$3.13M -$2.55M -250,000 -45%
PC
24
Periscope Capital
Ontario, Canada
$3.13M +$1.02M +100,000 +50%
Millennium Management
25
Millennium Management
New York
$3.11M +$3.04M +298,504 New
1
2 3

XRPN Hedge Fund Activity: Q3 2025 in Review

49 of the 7,625 institutional investors tracked by Wall St. Rank reported a position in Armada Acquisition Corp II (XRPN) for Q3 2025, worth a combined $208M — up 62% from $129M a quarter earlier.

Buyers outnumbered sellers: 22 funds opened new XRPN positions and 6 closed out — a net gain of 16 holders — while 6 added to existing stakes and 11 trimmed.

The largest buyer was Meteora Capital, opening a new position worth an estimated $18.2M. The largest seller was Wolverine Asset Management, cutting an estimated $8.16M.

  • 49 institutional investors held Armada Acquisition Corp II (XRPN) as of Q3 2025, up from 33 in Q2 2025.
  • Funds reported $208M of Armada Acquisition Corp II stock for Q3 2025, up 62% quarter-over-quarter.
  • 22 funds opened new Armada Acquisition Corp II positions in Q3 2025 and 6 closed out, a net change of +16 holders.
  • The largest Armada Acquisition Corp II buyer in Q3 2025 was Meteora Capital, an estimated $18.2M added.
  • The largest Armada Acquisition Corp II seller in Q3 2025 was Wolverine Asset Management, an estimated $8.16M sold.

Based on aggregated 13F filings for Q3 2025.