Who owns NPAC (NPAC)
Which tracked institutional funds hold NPAC, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See NPAC company fundamentals →
Ownership as of the 2026-Q1 13F filings. 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
16 tracked funds added or opened NPAC while 12 trimmed or exited it between 2025-Q4 and 2026-Q1 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
NPAC’s largest tracked holder by dollar value, MMCAP International Inc. SPC, sizes it at 1.9% of its own reported 13F book, while the median holder sizes it at 0.1% of theirs — a 1.9pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in NPAC 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
Between 2025-Q4 and 2026-Q1, across 60 tracked filers holding NPAC, 25 increased or opened the position and 20 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in NPAC between the 2025-Q4 and 2026-Q1 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 7
- HIGHBRIDGE CAPITAL MANAGEMENT LLC$4M
- SONA ASSET MANAGEMENT (US) LLC$4M
- Quarry LP$3M
- RLH Capital LLC$3M
- O'Connor Alternative Investments LLC$3M
- K2 PRINCIPAL FUND, L.P.$920K
Full exits 6
- Clear Street Group Inc.$3M
- Decagon Asset Management LLP$3M
- OCONNOR, A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS (LLC)$3M
- HighTower Advisors, LLC$3M
- MIZUHO SECURITIES USA LLC$1M
- PRELUDE CAPITAL MANAGEMENT, LLC$513K
Largest adds
- GLAZER CAPITAL, LLC$7M
- JPMORGAN CHASE & CO$3M
- BERKLEY W R CORP$3M
- Hudson Bay Capital Management LP$2M
- UBS Group AG$843K
- Schonfeld Strategic Advisors LLC$625K
Largest trims
- Shaolin Capital Management LLC$3M
- Westchester Capital Management, LLC$2M
- Centiva Capital, LP$2M
- Periscope Capital Inc.$2M
- Wealthspring Capital LLC$1M
- COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS$513K
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. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| MMCAP International Inc. SPC | 2,200,000 | $23M | 7.1% | 2026-Q1 |
| Magnetar Financial LLC | 1,749,990 | $18M | 5.6% | 2026-Q1 |
| AQR Arbitrage LLC added | 1,620,047 | $17M | 5.2% | 2026-Q1 |
| TENOR CAPITAL MANAGEMENT Co., L.P. | 1,500,000 | $15M | 4.8% | 2026-Q1 |
| Alberta Investment Management Corp | 1,250,000 | $13M | 4.0% | 2026-Q1 |
| LMR Partners LLP | 1,200,000 | $12M | 3.9% | 2026-Q1 |
| ARISTEIA CAPITAL, L.L.C. | 1,200,000 | $12M | 3.9% | 2026-Q1 |
| Linden Advisors LP | 1,200,000 | $12M | 3.9% | 2026-Q1 |
| Westchester Capital Management, LLC trimmed | 1,128,999 | $12M | 3.6% | 2026-Q1 |
| GLAZER CAPITAL, LLC added | 1,050,563 | $11M | 3.4% | 2026-Q1 |
| Ghisallo Capital Management LLC | 1,000,000 | $10M | 3.2% | 2026-Q1 |
| PICTON MAHONEY ASSET MANAGEMENT | 999,999 | $10M | 3.2% | 2026-Q1 |
| Governors Lane LP added | 874,820 | $9M | 2.8% | 2026-Q1 |
| Hudson Bay Capital Management LP added | 704,875 | $7M | 2.3% | 2026-Q1 |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | 689,999 | $7M | 2.2% | 2026-Q1 |
| Radcliffe Capital Management, L.P. | 665,376 | $7M | 2.1% | 2026-Q1 |
| BERKLEY W R CORP added | 645,429 | $7M | 2.1% | 2026-Q1 |
| Wealthspring Capital LLC trimmed | 593,781 | $6M | 1.9% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC added | 512,349 | $5M | 1.7% | 2026-Q1 |
| Mint Tower Capital Management B.V. | 500,000 | $5M | 1.6% | 2026-Q1 |
| WHITEBOX ADVISORS LLC | 500,000 | $5M | 1.6% | 2026-Q1 |
| MILLENNIUM MANAGEMENT LLC added | 493,410 | $5M | 1.6% | 2026-Q1 |
| HGC Investment Management Inc. | 450,000 | $5M | 1.5% | 2026-Q1 |
| Schonfeld Strategic Advisors LLC added | 373,941 | $4M | 1.2% | 2026-Q1 |
| JPMORGAN CHASE & CO added | 368,145 | $4M | 1.2% | 2026-Q1 |
| HIGHBRIDGE CAPITAL MANAGEMENT LLC added | 368,145 | $4M | 1.2% | 2026-Q1 |
| SONA ASSET MANAGEMENT (US) LLC new | 366,183 | $4M | 1.2% | 2026-Q1 |
| Verition Fund Management LLC added | 353,066 | $4M | 1.1% | 2026-Q1 |
| TORONTO DOMINION BANK trimmed | 350,000 | $4M | 1.1% | 2026-Q1 |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS trimmed | 350,000 | $4M | 1.1% | 2026-Q1 |
| RIVERNORTH CAPITAL MANAGEMENT, LLC trimmed | 324,999 | $3M | 1.0% | 2026-Q1 |
| MOORE CAPITAL MANAGEMENT, LP | 300,000 | $3M | 1.0% | 2026-Q1 |
| Centiva Capital, LP trimmed | 299,998 | $3M | 1.0% | 2026-Q1 |
| METEORA CAPITAL, LLC trimmed | 297,809 | $3M | 1.0% | 2026-Q1 |
| Periscope Capital Inc. trimmed | 275,000 | $3M | 0.9% | 2026-Q1 |
| O'Connor Alternative Investments LLC new | 250,000 | $3M | 0.8% | 2026-Q1 |
| RLH Capital LLC new | 250,000 | $3M | 0.8% | 2026-Q1 |
| Quarry LP new | 250,000 | $3M | 0.8% | 2026-Q1 |
| DLD Asset Management, LP | 219,510 | $2M | 0.7% | 2026-Q1 |
| WOLVERINE ASSET MANAGEMENT LLC trimmed | 217,557 | $2M | 0.7% | 2026-Q1 |
| Polar Asset Management Partners Inc. | 200,000 | $2M | 0.6% | 2026-Q1 |
| UBS Group AG added | 152,259 | $2M | 0.5% | 2026-Q1 |
| Shaolin Capital Management LLC trimmed | 150,000 | $2M | 0.5% | 2026-Q1 |
| D. E. Shaw & Co., Inc. | 100,000 | $1M | 0.3% | 2026-Q1 |
| Context Capital Management, LLC | 100,000 | $1M | 0.3% | 2026-Q1 |
| K2 PRINCIPAL FUND, L.P. new | 89,644 | $920K | 0.3% | 2026-Q1 |
| Baird Financial Group, Inc. | 78,780 | $808K | 0.3% | 2026-Q1 |
| DELTEC ASSET MANAGEMENT LLC | 75,000 | $770K | 0.2% | 2026-Q1 |
| BNP PARIBAS FINANCIAL MARKETS | 74,284 | $762K | 0.2% | 2026-Q1 |
| Parallax Volatility Advisers, L.P. added | 50,000 | $516K | 0.2% | 2026-Q1 |
| HEIGHTS CAPITAL MANAGEMENT, INC | 50,000 | $513K | 0.2% | 2026-Q1 |
| HRT FINANCIAL LP added | 35,993 | $369K | 0.1% | 2026-Q1 |
| Virtu Financial LLC trimmed | 17,175 | $176K | 0.1% | 2026-Q1 |
| GEODE CAPITAL MANAGEMENT, LLC new | 16,757 | $172K | 0.1% | 2026-Q1 |
| TrueMark Investments, LLC new | 14,600 | $150K | 0.0% | 2026-Q1 |
| PenderFund Capital Management Ltd. trimmed | 12,700 | $130K | 0.0% | 2026-Q1 |
| Kepos Capital LP trimmed | 10,899 | $112K | 0.0% | 2026-Q1 |
| CITADEL ADVISORS LLC added | 10,819 | $111K | 0.0% | 2026-Q1 |
| JONES FINANCIAL COMPANIES LLLP new | 2,443 | $25K | 0.0% | 2026-Q1 |
| MORGAN STANLEY trimmed | 61 | $626 | 0.0% | 2026-Q1 |
| Clear Street Group Inc. trimmed | 304,911 | $3M | 1.0% | 2025-Q4 stale |
| Saba Capital Management, L.P. added | 286,897 | $3M | 0.9% | 2025-Q2 stale |
| Decagon Asset Management LLP added | 270,437 | $3M | 0.9% | 2025-Q4 stale |
| OCONNOR, A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS (LLC) trimmed | 250,000 | $3M | 0.8% | 2025-Q4 stale |
| HighTower Advisors, LLC trimmed | 244,121 | $3M | 0.8% | 2025-Q4 stale |
| CLEAR STREET LLC added | 193,189 | $2M | 0.6% | 2025-Q2 stale |
| MIZUHO SECURITIES USA LLC trimmed | 147,117 | $1M | 0.5% | 2025-Q4 stale |
| PRELUDE CAPITAL MANAGEMENT, LLC new | 50,000 | $513K | 0.2% | 2025-Q4 stale |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP trimmed | 38,862 | $399K | 0.1% | 2025-Q4 stale |
| Alpine Global Management, LLC added | 33,407 | $343K | 0.1% | 2025-Q4 stale |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | 0 | — | 0.0% | 2025-Q2 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
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.