Who owns Armada Acquisition Corp. III (AACI)
Which tracked institutional funds hold AACI, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See AACI company fundamentals →
Ownership as of the 2026-Q1 13F filings (latest filed 2026-05-15). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
Conviction spread
AACI’s largest tracked holder by dollar value, TENOR CAPITAL MANAGEMENT Co., L.P., sizes it at 1.5% of its own reported 13F book, while the median holder sizes it at 0.1% of theirs — a 1.4pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in AACI divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Only one quarter (2026-Q1) of 13F history is available — a quarter-over-quarter accumulation delta needs two.
We do not publish a positioning read for a window we cannot measure honestly. A starting question, not a verdict.
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding.
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| TENOR CAPITAL MANAGEMENT Co., L.P. new | 350,000 | $105M | 31.1% | 2026-Q1 |
| METEORA CAPITAL, LLC new | 149,999 | $45M | 13.3% | 2026-Q1 |
| ADAGE CAPITAL PARTNERS GP, L.L.C. new | 2,025,000 | $20M | 5.9% | 2026-Q1 |
| ARISTEIA CAPITAL, L.L.C. new | 1,656,632 | $17M | 4.9% | 2026-Q1 |
| Linden Advisors LP new | 1,400,000 | $14M | 4.1% | 2026-Q1 |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND new | 1,100,000 | $11M | 3.3% | 2026-Q1 |
| Magnetar Financial LLC new | 1,000,000 | $10M | 3.0% | 2026-Q1 |
| LMR Partners LLP new | 1,000,000 | $10M | 3.0% | 2026-Q1 |
| Polar Asset Management Partners Inc. new | 900,000 | $9M | 2.7% | 2026-Q1 |
| Hudson Bay Capital Management LP new | 900,000 | $9M | 2.6% | 2026-Q1 |
| AQR Arbitrage LLC new | 762,320 | $8M | 2.3% | 2026-Q1 |
| Alberta Investment Management Corp new | 700,000 | $7M | 2.1% | 2026-Q1 |
| MILLENNIUM MANAGEMENT LLC new | 612,000 | $6M | 1.8% | 2026-Q1 |
| WHITEBOX ADVISORS LLC new | 550,000 | $5M | 1.6% | 2026-Q1 |
| BNP PARIBAS FINANCIAL MARKETS new | 537,680 | $5M | 1.6% | 2026-Q1 |
| CSS LLC/IL new | 500,000 | $5M | 1.5% | 2026-Q1 |
| GLAZER CAPITAL, LLC new | 476,113 | $5M | 1.4% | 2026-Q1 |
| OMERS ADMINISTRATION Corp new | 450,000 | $4M | 1.3% | 2026-Q1 |
| TWO SIGMA INVESTMENTS, LP new | 407,812 | $4M | 1.2% | 2026-Q1 |
| Crossingbridge Advisors, LLC new | 400,000 | $4M | 1.2% | 2026-Q1 |
| HEIGHTS CAPITAL MANAGEMENT, INC new | 365,000 | $4M | 1.1% | 2026-Q1 |
| Kryger Capital LLC new | 350,920 | $3M | 1.0% | 2026-Q1 |
| RIVERNORTH CAPITAL MANAGEMENT, LLC new | 320,798 | $3M | 0.9% | 2026-Q1 |
| Periscope Capital Inc. new | 300,000 | $3M | 0.9% | 2026-Q1 |
| Wealthspring Capital LLC new | 229,040 | $2M | 0.7% | 2026-Q1 |
| READYSTATE ASSET MANAGEMENT LP new | 200,000 | $2M | 0.6% | 2026-Q1 |
| Cable Car Capital, LP new | 200,000 | $2M | 0.6% | 2026-Q1 |
| Shaolin Capital Management LLC new | 200,000 | $2M | 0.6% | 2026-Q1 |
| Saba Capital Management, L.P. new | 199,116 | $2M | 0.6% | 2026-Q1 |
| BERKLEY W R CORP new | 198,800 | $2M | 0.6% | 2026-Q1 |
| Kepos Capital LP new | 150,000 | $1M | 0.4% | 2026-Q1 |
| DLD Asset Management, LP new | 150,000 | $1M | 0.4% | 2026-Q1 |
| PICTON MAHONEY ASSET MANAGEMENT new | 125,000 | $1M | 0.4% | 2026-Q1 |
| Lineage Point Capital LP new | 125,000 | $1M | 0.4% | 2026-Q1 |
| Mint Tower Capital Management B.V. new | 100,000 | $986K | 0.3% | 2026-Q1 |
| Virtu Financial LLC new | 58,956 | $589K | 0.2% | 2026-Q1 |
| ABC ARBITRAGE SA new | 40,000 | $398K | 0.1% | 2026-Q1 |
| HIGHBRIDGE CAPITAL MANAGEMENT LLC new | 27,303 | $270K | 0.1% | 2026-Q1 |
| JPMORGAN CHASE & CO new | 27,303 | $270K | 0.1% | 2026-Q1 |
| BOOTHBAY FUND MANAGEMENT, LLC new | 17,673 | $174K | 0.1% | 2026-Q1 |
| Schonfeld Strategic Advisors LLC new | 17,500 | $173K | 0.1% | 2026-Q1 |
| PenderFund Capital Management Ltd. new | 16,000 | $160K | 0.0% | 2026-Q1 |
| WOLVERINE ASSET MANAGEMENT LLC new | 10,401 | $103K | 0.0% | 2026-Q1 |
| Warberg Asset Management LLC new | 10,000 | $100K | 0.0% | 2026-Q1 |
| RK Capital Management, LLC/FL new | 270,096 | $69K | 0.0% | 2026-Q1 |
| Radcliffe Capital Management, L.P. new | 212,929 | $54K | 0.0% | 2026-Q1 |
| Verition Fund Management LLC new | 150,050 | $37K | 0.0% | 2026-Q1 |
| Clear Street Group Inc. new | 108,219 | $32K | 0.0% | 2026-Q1 |
| MORGAN STANLEY new | 12 | $118 | 0.0% | 2026-Q1 |
| UBS Group AG new | 10 | $2 | 0.0% | 2026-Q1 |
| SONA ASSET MANAGEMENT (US) LLC new | 325,000 | — | 0.0% | 2026-Q1 |
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.