Thayer Ventures Acquisition Corporation II Class A Ordinary Shares

TVAI • NASDAQ

Thayer Ventures Acquisition Corporation II Class A Ordinary Shares is a blank checks company on NASDAQ, with a market cap of $275.3M. As of Q3 2025, 65% of shares are held by 38 institutional investors, with LINDEN ADVISORS LP as the largest holder at 6.43%.

Market Cap$275.3M

BLANK CHECKS

Overview

Overview of institutional ownership in TVAI as of Q3 2025 with a market cap of $273.0M

All Institutions

Institutions: 38
Value Held: $177.3M
Shares Held: 17.7M
Avg Position: $4.7M
Median Position: $3.8M

Hedge Funds

Hedge Funds: 24
Value Held: $127.1M
Shares Held: 12.7M
Avg Position: $5.3M
Median Position: $4.1M

Ownership Breakdown

Institutional (non-HF)

18.4%

$50.2M

Hedge Funds

46.54%

$127.1M

Retail & Other

35.07%

$95.7M

Based on market cap of $273.0M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in TVAI as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
LINDEN ADVISORS LP Hedge Fund•Multi-Strategy	Siu Min (Joe) Wong CEO	$17.6M 1.81% of portfolio	6.43% 1.8M shares	Q3 2025 Held for 2 months	$971.4M
ARISTEIA CAPITAL LLC Hedge Fund•Multi-Strategy	Andrew Benjamin David COO	$11.3M 0.56% of portfolio	4.14% 1.1M shares	Q3 2025 Held for 2 months	$2.0B
T TENOR CAPITAL MANAGEMENT Co., L.P. Hedge Fund•Multi-Strategy	Robin Rajendra Shah CIO	$10.0M 1.24% of portfolio	3.68% 1.0M shares	Q3 2025 Held for 2 months	$806.7M
Polar Securities Inc. Hedge Fund•Multi-Strategy	Richard Gregory Lemaich CEO	$9.0M 0.27% of portfolio	3.31% 900.0K shares	Q3 2025 Held for 2 months	$3.4B
D D. E. Shaw & Co., Inc. Institution	-	$8.8M 0.01% of portfolio	3.22% 875.0K shares	Q3 2025 Held for 2 months	$115.81B
Meteora Capital, LLC Hedge Fund•Event Driven	Vikas K Mittal Managing Partner	$8.2M 1.09% of portfolio	3.02% 820.2K shares	Q3 2025 Held for 2 months	$752.0M
H Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Institution	-	$7.0M 0.07% of portfolio	2.57% 700.0K shares	Q3 2025 Held for 2 months	$9.7B
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	Dan Michael Berkovitz Chairman	$7.0M 0.01% of portfolio	2.57% 700.0K shares	Q3 2025 Held for 2 months	$121.98B
H HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Institution	-	$7.0M 0.01% of portfolio	2.57% 700.0K shares	Q3 2025 Held for 2 months	$53.3B
Verition Fund Management LLC Hedge Fund•Multi-Strategy	Nicholas Matthew Maounis CEO	$6.8M 0.04% of portfolio	2.50% 680.3K shares	Q3 2025 Held for 2 months	$16.7B

Net Capital Flow

Institutional buying and selling activity for TVAI in Q3 2025

Traded: +$177.3M
Buyers: 38
Sellers: 0
Total Bought: +$177.3M
Total Sold: −-
Avg Position: $4.7M

Biggest Buyers

Institution	Net Bought	Current Position
LINDEN ADVISORS LP Hedge Fund•Multi-Strategy	+$17.6M +1.8M shares	$17.6M 1.8M shares
ARISTEIA CAPITAL LLC Hedge Fund•Multi-Strategy	+$11.3M +1.1M shares	$11.3M 1.1M shares
T TENOR CAPITAL MANAGEMENT Co., L.P. Hedge Fund•Multi-Strategy	+$10.0M +1.0M shares	$10.0M 1.0M shares
Polar Securities Inc. Hedge Fund•Multi-Strategy	+$9.0M +900.0K shares	$9.0M 900.0K shares
D D. E. Shaw & Co., Inc. Institution	+$8.8M +875.0K shares	$8.8M 875.0K shares
Meteora Capital, LLC Hedge Fund•Event Driven	+$8.2M +820.2K shares	$8.2M 820.2K shares
H Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Institution	+$7.0M +700.0K shares	$7.0M 700.0K shares
H HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Institution	+$7.0M +700.0K shares	$7.0M 700.0K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$7.0M +700.0K shares	$7.0M 700.0K shares
Verition Fund Management LLC Hedge Fund•Multi-Strategy	+$6.8M +680.3K shares	$6.8M 680.3K shares

Biggest Sellers

Institution	Net Sold	Current Position
No sellers found

Entry and Exit Activity

Institutions that initiated new positions or completely exited TVAI in Q3 2025

New Positions: 38
New Value: $177.3M
Exited Positions: 0
Exited Value: -

New Positions

Institution	Position Value
LINDEN ADVISORS LP Hedge Fund•Multi-Strategy	$17.6M 1.8M shares
ARISTEIA CAPITAL LLC Hedge Fund•Multi-Strategy	$11.3M 1.1M shares
T TENOR CAPITAL MANAGEMENT Co., L.P. Hedge Fund•Multi-Strategy	$10.0M 1.0M shares
Polar Securities Inc. Hedge Fund•Multi-Strategy	$9.0M 900.0K shares
D D. E. Shaw & Co., Inc. Institution	$8.8M 875.0K shares
Meteora Capital, LLC Hedge Fund•Event Driven	$8.2M 820.2K shares
H Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Institution	$7.0M 700.0K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$7.0M 700.0K shares
H HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Institution	$7.0M 700.0K shares
Verition Fund Management LLC Hedge Fund•Multi-Strategy	$6.8M 680.3K shares

Exited Positions

Institution	Previous Position
No exited positions found

Options Activity

Institutions with the largest Call and Put options positions in TVAI as of Q3 2025

Call Positions: 1
Call Value: $16.8K
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
DLD Asset Management, LP Hedge Fund•Multi-Strategy	$16.8K 987.3 contracts

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

Institutions with TVAI as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
LINDEN ADVISORS LP Hedge Fund•Multi-Strategy	Siu Min (Joe) Wong CEO	1.81% $17.6M	6.43% 1.8M shares	Q3 2025 Held for 2 months	$971.4M
T TENOR CAPITAL MANAGEMENT Co., L.P. Hedge Fund•Multi-Strategy	Robin Rajendra Shah CIO	1.24% $10.0M	3.68% 1.0M shares	Q3 2025 Held for 2 months	$806.7M
PERISCOPE CAPITAL INC. Institution	Scott Allen Hayes President	1.17% $4.3M	1.56% 425.0K shares	Q3 2025 Held for 2 months	$363.3M
Radcliffe Capital Management, L.P. Hedge Fund•Multi-Strategy	Steve Brett Katznelson CIO	1.11% $5.0M	1.84% 500.0K shares	Q3 2025 Held for 2 months	$452.3M
Meteora Capital, LLC Hedge Fund•Event Driven	Vikas K Mittal Managing Partner	1.09% $8.2M	3.02% 820.2K shares	Q3 2025 Held for 2 months	$752.0M
H HEIGHTS CAPITAL MANAGEMENT, INC Institution	-	0.89% $2.5M	0.92% 250.0K shares	Q3 2025 Held for 2 months	$282.2M
W Warberg Asset Management LLC Hedge Fund•Multi-Strategy	Jonathan Alan Blumberg Managing Partner	0.89% $448.6K	0.16% 44.7K shares	Q3 2025 Held for 2 months	$50.4M
Shaolin Capital Management LLC Hedge Fund•Multi-Strategy	David Barry Puritz CIO	0.84% $3.8M	1.38% 375.0K shares	Q3 2025 Held for 2 months	$449.9M
ARISTEIA CAPITAL LLC Hedge Fund•Multi-Strategy	Andrew Benjamin David COO	0.56% $11.3M	4.14% 1.1M shares	Q3 2025 Held for 2 months	$2.0B
MANGROVE PARTNERS Hedge Fund•Multi-Strategy	Nathaniel Hall August President	0.32% $4.5M	1.65% 450.0K shares	Q3 2025 Held for 2 months	$1.4B

Hedge Fund Spotlight

Discover hedge funds investing in TVAI

Shaolin Capital Management LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerDavid Barry Puritz

Portfolio Value: $449.9M
Positions: 157
Last Reported: Q3 2025

Sector Allocation

Position in Thayer Ventures Acquisition Corporation II Class A Ordinary Shares

Market Value: $3.8M
Shares Held: 375.0K
Portfolio Weight: 0.84%
Owned Since: 2025-Q3

Top Holding	Sector	Market Value	Weight
1 Iris Energy IREN	Financial - Capital Markets Financial Services	$18.1M	4.03%
2 Bitdeer Technologies Group BTDR	Software - Application Technology	$14.1M	3.13%
3 Microchip Technology MCHP	Semiconductors Technology	$12.2M	2.70%