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RF Acquisition Corp II
RFAI • XNAS
RF Acquisition Corp II is a blank checks company on XNAS, with a market cap of $160.9M. As of Q3 2025, 65% of shares are held by 28 institutional investors, with Karpus Management, Inc. as the largest holder at 16.02%.
Market Cap$160.9M
BLANK CHECKS
Overview
Overview of institutional ownership in RFAI as of Q3 2025 with a market cap of $161.2M
All Institutions
- Institutions
- 28
- Value Held
- $104.9M
- Shares Held
- 9.8M
- Avg Position
- $3.7M
- Median Position
- $1.1M
Hedge Funds
- Hedge Funds
- 14
- Value Held
- $43.0M
- Shares Held
- 4.0M
- Avg Position
- $3.1M
- Median Position
- $1.7M
Ownership Breakdown
Based on market cap of $161.2M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.
Biggest Investors
Institutions with the largest positions in RFAI as of Q3 2025
| Institution | Position Value |
|---|---|
K Karpus Management, Inc. Institution | $25.8M 0.83% of portfolio |
 Vivaldi Asset Management, LLC Fund of Funds | $11.1M 0.73% of portfolio |
 BERKLEY W R CORP Institution | $10.1M 0.67% of portfolio |
 WOLVERINE ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy | $9.2M 0.62% of portfolio |
 CNH PARTNERS LLC Hedge Fund•Multi-Strategy | $8.2M 0.31% of portfolio |
 Wealthspring Capital LLC Hedge Fund•Event Driven | $8.0M 2.26% of portfolio |
D D. E. Shaw & Co., Inc. Institution | $5.8M 0.00% of portfolio |
 GLAZER CAPITAL, LLC Hedge Fund•Multi-Strategy | $5.6M 0.25% of portfolio |
 DEUTSCHE BANK AG\ Institution | $3.1M 0.00% of portfolio |
 TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy | $2.7M 0.00% of portfolio |
Net Capital Flow
Institutional buying and selling activity for RFAI in Q3 2025
- Traded
- +$964.5K
- Buyers
- 7
- Sellers
- 9
- Total Bought
- +$3.4M
- Total Sold
- −$2.4M
- Avg Position
- $3.6M
Biggest Buyers
| Institution | Net Bought |
|---|---|
BERKLEY W R CORP Institution | +$2.0M +183.0K shares |
 Shaolin Capital Management LLC Hedge Fund•Multi-Strategy | +$939.8K +87.5K shares |
 Radcliffe Capital Management, L.P. Hedge Fund•Multi-Strategy | +$322.9K +30.1K shares |
 SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity | +$131.7K +12.3K shares |
 MORGAN STANLEY RIA/Wealth | +$4.9K +457.0 shares |
 PERISCOPE CAPITAL INC. Institution | +$1.1K +100.0 shares |
 UBS Group AG Institution | +$762.6 +71.0 shares |
Biggest Sellers
| Institution | Net Sold |
|---|---|
 TORONTO DOMINION BANK Institution | −$1.6M −145.3K shares |
GLAZER CAPITAL, LLC Hedge Fund•Multi-Strategy | −$329.2K −30.7K shares |
K Karpus Management, Inc. Institution | −$166.0K −15.5K shares |
WOLVERINE ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy | −$125.8K −11.7K shares |
 CONDOR CAPITAL MANAGEMENT RIA/Wealth | −$114.8K −10.9K shares |
Wealthspring Capital LLC Hedge Fund•Event Driven | −$45.7K −4.3K shares |
CNH PARTNERS LLC Hedge Fund•Multi-Strategy | −$32.0K −3.0K shares |
 CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy | −$23.4K −2.2K shares |
 RIVERNORTH CAPITAL MANAGEMENT, LLC Hedge Fund•Multi-Strategy | −$4.4K −414.0 shares |
Entry and Exit Activity
Institutions that initiated new positions or completely exited RFAI in Q3 2025
- New Positions
- 3
- New Value
- $1.4M
- Exited Positions
- 1
- Exited Value
- $114.8K
New Positions
| Institution | Position Value |
|---|---|
Shaolin Capital Management LLC Hedge Fund•Multi-Strategy | $939.8K 87.5K shares |
Radcliffe Capital Management, L.P. Hedge Fund•Multi-Strategy | $322.9K 30.1K shares |
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity | $131.7K 12.3K shares |
Exited Positions
| Institution | Previous Position |
|---|---|
CONDOR CAPITAL MANAGEMENT RIA/Wealth | $114.8K 10.9K shares |
Options Activity
Institutions with the largest Call and Put options positions in RFAI as of Q3 2025
- Call Positions
- 0
- Call Value
- -
- Put Positions
- 0
- Put Value
- -
Call Positions
| Institution | Position Value |
|---|---|
| No call positions found | |
Put Positions
| Institution | Position Value |
|---|---|
| No put positions found | |
Most Committed Institutions
Institutions with RFAI as the highest % of their portfolio as of Q3 2025
| Institution | Portfolio Weight |
|---|---|
Wealthspring Capital LLC Hedge Fund•Event Driven | 2.26% $8.0M |
 Kepos Capital LP Hedge Fund•Global Macro | 1.89% $322.2K |
K Karpus Management, Inc. Institution | 0.83% $25.8M |
W Warberg Asset Management LLC Hedge Fund•Multi-Strategy | 0.81% $408.1K |
Vivaldi Asset Management, LLC Fund of Funds | 0.73% $11.1M |
BERKLEY W R CORP Institution | 0.67% $10.1M |
WOLVERINE ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy | 0.62% $9.2M |
PERISCOPE CAPITAL INC. Institution | 0.52% $1.9M |
CNH PARTNERS LLC Hedge Fund•Multi-Strategy | 0.31% $8.2M |
M Mint Tower Capital Management B.V. Institution | 0.26% $859.2K |
Hedge Fund Spotlight
Discover hedge funds investing in RFAI
RIVERNORTH CAPITAL MANAGEMENT, LLC
Hedge Fund • Multi-Strategy
Portfolio ManagerPatrick William Galley
- Portfolio Value
- $1.7B
- Positions
- 297
- Last Reported
- Q3 2025
Sector Allocation
R
Position in RF Acquisition Corp II
- Market Value
- $999.9K
- Shares Held
- 93.1K
- Portfolio Weight
- 0.06%
- Owned Since
- 2024-Q3
| Top Holding | Sector | Market Value | Weight |
|---|---|---|---|
Unknown Unknown | $48.7M | 2.95% | |
Unknown Unknown | $48.3M | 2.92% | |
Unknown Unknown | $42.3M | 2.56% |
