Trident Acquisitions Corp.
TDAC • XNAS
Trident Acquisitions Corp. is a publicly traded company on XNAS, with a market cap of $229.2M. As of Q3 2025, 68% of shares are held by 39 institutional investors, with WOLVERINE ASSET MANAGEMENT LLC as the largest holder at 7.11%.
Market Cap$229.2M
Overview
Overview of institutional ownership in TDAC as of Q3 2025 with a market cap of $226.7M
All Institutions
- Institutions
- 39
- Value Held
- $154.4M
- Shares Held
- 14.9M
- Avg Position
- $4.0M
- Median Position
- $2.6M
Hedge Funds
- Hedge Funds
- 24
- Value Held
- $103.9M
- Shares Held
- 10.0M
- Avg Position
- $4.3M
- Median Position
- $2.4M
Ownership Breakdown
Based on market cap of $226.7M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.
Biggest Investors
Institutions with the largest positions in TDAC as of Q3 2025
| Institution | Position Value |
|---|---|
 WOLVERINE ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy | $16.1M 1.10% of portfolio |
 Magnetar Financial LLC Hedge Fund•Multi-Strategy | $13.5M 0.09% of portfolio |
 CNH PARTNERS LLC Hedge Fund•Multi-Strategy | $11.3M 0.42% of portfolio |
L LMR Partners LLP Institution | $8.3M 0.16% of portfolio |
 Hudson Bay Capital Management LP Hedge Fund•Multi-Strategy | $6.7M 0.05% of portfolio |
 Vivaldi Asset Management, LLC Fund of Funds | $6.7M 0.45% of portfolio |
T TENOR CAPITAL MANAGEMENT Co., L.P. Hedge Fund•Multi-Strategy | $6.6M 0.82% of portfolio |
K Karpus Management, Inc. Institution | $6.4M 0.21% of portfolio |
 Polar Securities Inc. Hedge Fund•Multi-Strategy | $6.2M 0.18% of portfolio |
 LINDEN ADVISORS LP Hedge Fund•Multi-Strategy | $6.2M 0.64% of portfolio |
Net Capital Flow
Institutional buying and selling activity for TDAC in Q3 2025
- Traded
- +$15.6M
- Buyers
- 9
- Sellers
- 11
- Total Bought
- +$20.7M
- Total Sold
- −$5.0M
- Avg Position
- $3.9M
Biggest Buyers
| Institution | Net Bought |
|---|---|
 RIVERNORTH CAPITAL MANAGEMENT, LLC Hedge Fund•Multi-Strategy | +$4.1M +400.0K shares |
M MMCAP International Inc. SPC Institution | +$3.6M +350.0K shares |
 Radcliffe Capital Management, L.P. Hedge Fund•Multi-Strategy | +$3.4M +329.0K shares |
 Westchester Capital Management, LLC Hedge Fund•Merger Arb | +$2.6M +248.9K shares |
WOLVERINE ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy | +$2.1M +202.4K shares |
 PERISCOPE CAPITAL INC. Institution | +$2.1M +200.1K shares |
 TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy | +$1.4M +133.3K shares |
+$1.0M +100.1K shares | |
 UBS Group AG Institution | +$351.9K +34.0K shares |
Biggest Sellers
| Institution | Net Sold |
|---|---|
C Crossingbridge Advisors, LLC Long Only Manager | −$1.6M −150.0K shares |
Q Quarry LP Institution | −$1.5M −150.0K shares |
 DLD Asset Management, LP Hedge Fund•Multi-Strategy | −$1.0M −100.0K shares |
 TORONTO DOMINION BANK Institution | −$643.8K −62.2K shares |
 Schonfeld Strategic Advisors LLC Hedge Fund•Multi-Strategy | −$105.5K −10.2K shares |
 GLAZER CAPITAL, LLC Hedge Fund•Multi-Strategy | −$78.2K −7.6K shares |
CNH PARTNERS LLC Hedge Fund•Multi-Strategy | −$31.0K −3.0K shares |
 Wealthspring Capital LLC Hedge Fund•Event Driven | −$28.6K −2.8K shares |
W Warberg Asset Management LLC Hedge Fund•Multi-Strategy | −$10.3K −1.0K shares |
 GRITSTONE ASSET MANAGEMENT LLC Hedge Fund•Sector | −$9.0K −865.0 shares |
Entry and Exit Activity
Institutions that initiated new positions or completely exited TDAC in Q3 2025
- New Positions
- 4
- New Value
- $11.7M
- Exited Positions
- 1
- Exited Value
- $1.5M
New Positions
| Institution | Position Value |
|---|---|
RIVERNORTH CAPITAL MANAGEMENT, LLC Hedge Fund•Multi-Strategy | $4.1M 400.0K shares |
M MMCAP International Inc. SPC Institution | $3.6M 350.0K shares |
Westchester Capital Management, LLC Hedge Fund•Merger Arb | $2.6M 248.9K shares |
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy | $1.4M 133.3K shares |
Exited Positions
| Institution | Previous Position |
|---|---|
Q Quarry LP Institution | $1.5M 150.0K shares |
Options Activity
Institutions with the largest Call and Put options positions in TDAC as of Q3 2025
- Call Positions
- 1
- Call Value
- $28.3K
- Put Positions
- 0
- Put Value
- -
Call Positions
| Institution | Position Value |
|---|---|
DLD Asset Management, LP Hedge Fund•Multi-Strategy | $28.3K 974.3 contracts |
Put Positions
| Institution | Position Value |
|---|---|
| No put positions found | |
Most Committed Institutions
Institutions with TDAC as the highest % of their portfolio as of Q3 2025
| Institution | Portfolio Weight |
|---|---|
C Crossingbridge Advisors, LLC Long Only Manager | 3.50% $2.6M |
W Warberg Asset Management LLC Hedge Fund•Multi-Strategy | 1.51% $759.2K |
Radcliffe Capital Management, L.P. Hedge Fund•Multi-Strategy | 1.15% $5.2M |
PERISCOPE CAPITAL INC. Institution | 1.14% $4.1M |
WOLVERINE ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy | 1.10% $16.1M |
GRITSTONE ASSET MANAGEMENT LLC Hedge Fund•Sector | 0.92% $865.8K |
T TENOR CAPITAL MANAGEMENT Co., L.P. Hedge Fund•Multi-Strategy | 0.82% $6.6M |
LINDEN ADVISORS LP Hedge Fund•Multi-Strategy | 0.64% $6.2M |
Wealthspring Capital LLC Hedge Fund•Event Driven | 0.60% $2.1M |
M MMCAP International Inc. SPC Institution | 0.48% $3.6M |
Hedge Fund Spotlight
Discover hedge funds investing in TDAC
GRITSTONE ASSET MANAGEMENT LLC
Hedge Fund • Sector
Portfolio ManagerJustin George De Orellana Cressall
- Portfolio Value
- $93.9M
- Positions
- 73
- Last Reported
- Q3 2025
Sector Allocation
Position in Trident Acquisitions Corp.
- Market Value
- $865.8K
- Shares Held
- 83.7K
- Portfolio Weight
- 0.92%
- Owned Since
- 2025-Q2
| Top Holding | Sector | Market Value | Weight |
|---|---|---|---|
Asset Management Financial Services | $9.1M | 9.71% | |
Unknown Unknown | $4.7M | 4.98% | |
Unknown Unknown | $4.2M | 4.45% |
