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XRPNU

Armada Acquisition Corp II Units
XRPNU

9 hedge funds and large institutions have $15.5M invested in Armada Acquisition Corp II Units in 2025 Q3 according to their latest regulatory filings, with 1 funds opening new positions, increasing their positions, 3 reducing their positions, and 23 closing their positions.

New
Increased
Maintained
Reduced
Closed

38.9% less ownership

Funds ownership: 46.02% → 7.12% (-39%)

71% less funds holding

Funds holding: 31 → 9 (-22)

84% less capital invested

Capital invested by funds: $96.9M → $15.5M (-$81.4M)

96% less first-time investments, than exits

New positions opened: 1 | Existing positions closed: 23

100% less repeat investments, than reductions

Existing positions increased: 0 | Existing positions reduced: 3

Holders
9
Holders Change
-22
Holders Change %
-70.97%
% of All Funds
0.12%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
1
Increased
–
Reduced
3
Closed
23
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Toronto Dominion Bank
Toronto Dominion Bank
Ontario, Canada
+$10.1K

Top Sellers

Rank Fund Capital Flow
1
TCM
Tenor Capital Management
New York
-$15.3M
2
AA
AQR Arbitrage
Connecticut
-$15.3M
3
WC
Wealthspring Capital
New York
-$5.95M
4
RCM
Rivernorth Capital Management
Florida
-$5.17M
5
Millennium Management
Millennium Management
New York
-$4.59M
Name Holding Trade Value Shares
Change 		Change in
Stake
WCMNY
1
Westchester Capital Management (New York)
New York
$5.72M -$3.09M -300,000 -35%
KIM
2
Karpus Investment Management
New York
$3.12M – – –
CS
3
Clear Street
New York
$3.09M -$1.94M -187,880 -39%
Walleye Capital
4
Walleye Capital
New York
$1.63M – – –
RAM
5
Readystate Asset Management
Illinois
$1.09M – – –
QL
6
Quarry LP
New York
$799K -$258K -25,000 -25%
UBS Group
7
UBS Group
Switzerland
$15.6K – – –
Toronto Dominion Bank
8
Toronto Dominion Bank
Ontario, Canada
$10.3K +$10.1K +981 New
National Bank of Canada
9
National Bank of Canada
Quebec, Canada
$282 – – –
TCM
10
Tenor Capital Management
New York
– -$15.3M -1,500,000 Closed
AA
11
AQR Arbitrage
Connecticut
– -$15.3M -1,499,633 Closed
WC
12
Wealthspring Capital
New York
– -$5.95M -582,880 Closed
RCM
13
Rivernorth Capital Management
Florida
– -$5.17M -506,461 Closed
Millennium Management
14
Millennium Management
New York
– -$4.59M -450,000 Closed
CC
15
Centiva Capital
New York
– -$2.54M -250,000 Closed
HIM
16
HGC Investment Management
Ontario, Canada
– -$2.55M -250,000 Closed
MTCM
17
Mint Tower Capital Management
Netherlands
– -$2.55M -250,000 Closed
Parallax Volatility Advisers
18
Parallax Volatility Advisers
California
– -$2.44M -239,448 Closed
DAM
19
DLD Asset Management
New York
– -$2.04M -200,000 Closed
HCM
20
Heights Capital Management
California
– -$2.04M -200,000 Closed
MCM
21
Moore Capital Management
New York
– -$2.04M -200,000 Closed
PMAM
22
Picton Mahoney Asset Management
Ontario, Canada
– -$2.04M -200,000 Closed
WA
23
Whitebox Advisors
Minnesota
– -$2.04M -200,000 Closed
Citadel Advisors
24
Citadel Advisors
Florida
– -$1.95M -191,563 Closed
VF
25
Virtu Financial
New York
– -$1.65M -162,039 Closed
1
2

XRPNU Hedge Fund Activity: Q3 2025 in Review

9 of the 7,631 institutional investors tracked by Wall St. Rank reported a position in Armada Acquisition Corp II Units (XRPNU) for Q3 2025, worth a combined $15.5M — down 84% from $96.9M a quarter earlier.

Sellers outnumbered buyers: 23 funds closed out of XRPNU and 1 opened new positions — a net loss of 22 holders — while 3 trimmed existing stakes and 0 added.

The largest buyer was Toronto Dominion Bank, opening a new position worth an estimated $10.1K. The largest seller was Tenor Capital Management, exiting entirely with an estimated $15.3M sold.

  • 9 institutional investors held Armada Acquisition Corp II Units (XRPNU) as of Q3 2025, down from 31 in Q2 2025.
  • Funds reported $15.5M of Armada Acquisition Corp II Units stock for Q3 2025, down 84% quarter-over-quarter.
  • 1 fund opened new Armada Acquisition Corp II Units positions in Q3 2025 and 23 closed out, a net change of -22 holders.
  • The largest Armada Acquisition Corp II Units buyer in Q3 2025 was Toronto Dominion Bank, an estimated $10.1K added.
  • The largest Armada Acquisition Corp II Units seller in Q3 2025 was Tenor Capital Management, an estimated $15.3M sold.

Based on aggregated 13F filings for Q3 2025.