Innovate

VATE • NYSE

Innovate is a engineering & construction company in the industrials sector on NYSE, led by Paul K. Voigt, with a market cap of $60.6M. As of Q3 2025, 19% of shares are held by 31 institutional investors, with Whitefort Capital Management, LP as the largest holder at 5.57%.

Interim CEOPaul K. Voigt

Market Cap$60.6M

Engineering & Construction

Industrials

Employees4.0K

Websiteinnovatecorp.com

Country

United States of America

Overview

Overview of institutional ownership in VATE as of Q3 2025 with a market cap of $65.2M

All Institutions

Institutions: 31
Value Held: $12.4M
Shares Held: 2.5M
Avg Position: $400.6K
Median Position: $82.9K

Hedge Funds

Hedge Funds: 7
Value Held: $5.3M
Shares Held: 1.1M
Avg Position: $755.3K
Median Position: $184.3K

Ownership Breakdown

Institutional (non-HF)

10.94%

$7.1M

Hedge Funds

8.11%

$5.3M

Retail & Other

80.96%

$52.8M

Based on market cap of $65.2M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in VATE as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
W Whitefort Capital Management, LP Hedge Fund•Event Driven	David Lorin Salanic Managing Partner	$3.6M 1.26% of portfolio	5.57% 743.0K shares	Q4 2021 Held for 3y 11m	$287.7M
LEUCADIA NATIONAL CORP Institution	Richard B. Handler CEO	$3.4M 0.03% of portfolio	5.25% 700.8K shares	Q4 2022 Held for 2y 11m	$10.5B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$1.6M 0.00% of portfolio	2.38% 317.4K shares	Q1 2015 Held for 10y 8m	$6.69T
Arena Capital Advisors, LLC- CA Hedge Fund•Credit Arb	Sanije Jane Perrett President	$625.6K 1.32% of portfolio	0.96% 127.9K shares	Q3 2025 Held for 2 months	$47.4M
P PRESCOTT GROUP CAPITAL MANAGEMENT, L.L.C. Hedge Fund•Long/Short	Matthew Nicholas Dunham President	$548.2K 0.06% of portfolio	0.84% 112.1K shares	Q1 2025 Held for 8 months	$948.6M
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$442.8K 0.00% of portfolio	0.68% 90.5K shares	Q1 2015 Held for 10y 8m	$1.57T
B BlackRock, Inc. Institution	-	$439.5K 0.00% of portfolio	0.67% 89.9K shares	Q1 2016 Held for 9y 8m	$5.67T
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$233.6K 0.00% of portfolio	0.36% 47.8K shares	Q1 2015 Held for 10y 8m	$2.88T
SCHMEIDLER A R & CO INC RIA/Wealth	Stephen Robert Burke Managing Partner	$225.8K 0.02% of portfolio	0.35% 46.2K shares	Q1 2021 Held for 4y 8m	$1.3B
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	Kenneth Cordele Griffin CEO	$184.3K 0.00% of portfolio	0.28% 37.7K shares	Q2 2025 Held for 5 months	$122.08B

Net Capital Flow

Institutional buying and selling activity for VATE in Q3 2025

Traded: −$397.1K
Buyers: 9
Sellers: 11
Total Bought: +$770.3K
Total Sold: −$1.2M
Avg Position: $376.3K

Biggest Buyers

Institution	Net Bought	Current Position
Arena Capital Advisors, LLC- CA Hedge Fund•Credit Arb	+$625.6K +127.9K shares	$625.6K 127.9K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$69.3K +14.2K shares	$184.3K 37.7K shares
S Squarepoint Ops LLC Hedge Fund•Quant	+$57.8K +11.8K shares	$57.8K 11.8K shares
BANK OF AMERICA CORP /DE/ Institution	+$10.9K +2.2K shares	$92.7K 19.0K shares
T Tower Research Capital LLC Institution	+$3.5K +706.0 shares	$4.7K 968.0 shares
B BlackRock, Inc. Institution	+$2.2K +446.0 shares	$439.5K 89.9K shares
BARCLAYS PLC Institution	+$846.1 +173.0 shares	$851.0 174.0 shares
B BNP PARIBAS ARBITRAGE, SA Institution	+$244.4 +50.0 shares	$699.0 143.0 shares
A Advisory Services Network, LLC RIA/Wealth	+$15.0 +3.0 shares	$15.0 3.0 shares

Biggest Sellers

Institution	Net Sold	Current Position
VANGUARD GROUP INC Institution	−$378.0K −77.3K shares	$1.6M 317.4K shares
GEODE CAPITAL MANAGEMENT LLC ETF Provider	−$204.6K −41.8K shares	$442.8K 90.5K shares
UBS Group AG Institution	−$175.6K −35.9K shares	$125.9K 25.7K shares
P PRESCOTT GROUP CAPITAL MANAGEMENT, L.L.C. Hedge Fund•Long/Short	−$116.3K −23.8K shares	$548.2K 112.1K shares
MORGAN STANLEY RIA/Wealth	−$99.2K −20.3K shares	$50.9K 10.4K shares
DIMENSIONAL FUND ADVISORS LP Long Only Manager	−$57.7K −11.2K shares	Sold Off 0 shares
NORTHERN TRUST CORP Institution	−$48.6K −9.9K shares	$81.8K 16.7K shares
SCHMEIDLER A R & CO INC RIA/Wealth	−$44.2K −9.0K shares	$225.8K 46.2K shares
GSA CAPITAL PARTNERS LLP Hedge Fund•Quant	−$33.0K −6.8K shares	$77.4K 15.8K shares
GABELLI FUNDS LLC Long Only Manager	−$9.8K −2.0K shares	$83.1K 17.0K shares

Entry and Exit Activity

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

New Positions: 1
New Value: $625.6K
Exited Positions: 2
Exited Value: $58.1K

New Positions

Institution	Position Value
Arena Capital Advisors, LLC- CA Hedge Fund•Credit Arb	$625.6K 127.9K shares

Exited Positions

Institution	Previous Position
DIMENSIONAL FUND ADVISORS LP Long Only Manager	$57.7K 11.2K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	$402.0 78.0 shares

Options Activity

Institutions with the largest Call and Put options positions in VATE 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 VATE as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Arena Capital Advisors, LLC- CA Hedge Fund•Credit Arb	Sanije Jane Perrett President	1.32% $625.6K	0.96% 127.9K shares	Q3 2025 Held for 2 months	$47.4M
W Whitefort Capital Management, LP Hedge Fund•Event Driven	David Lorin Salanic Managing Partner	1.26% $3.6M	5.57% 743.0K shares	Q4 2021 Held for 3y 11m	$287.7M
P PRESCOTT GROUP CAPITAL MANAGEMENT, L.L.C. Hedge Fund•Long/Short	Matthew Nicholas Dunham President	0.06% $548.2K	0.84% 112.1K shares	Q1 2025 Held for 8 months	$948.6M
LEUCADIA NATIONAL CORP Institution	Richard B. Handler CEO	0.03% $3.4M	5.25% 700.8K shares	Q4 2022 Held for 2y 11m	$10.5B
MSH Capital Advisors LLC RIA/Wealth	Katrina Patricia Santamaria CEO	0.02% $82.9K	0.13% 16.9K shares	Q1 2022 Held for 3y 8m	$371.2M
SCHMEIDLER A R & CO INC RIA/Wealth	Stephen Robert Burke Managing Partner	0.02% $225.8K	0.35% 46.2K shares	Q1 2021 Held for 4y 8m	$1.3B
GSA CAPITAL PARTNERS LLP Hedge Fund•Quant	David Khabie-Zeitoune CEO	0.01% $77.4K	0.12% 15.8K shares	Q1 2025 Held for 8 months	$1.1B
Stratos Wealth Advisors, LLC RIA/Wealth	Jeffrey Alan Concepcion CEO	0.00% $75.8K	0.12% 15.5K shares	Q3 2023 Held for 2y 2m	$2.1B
B BRIDGEWAY CAPITAL MANAGEMENT INC Long Only Manager	John Noland Ryan Montgomery CEO	0.00% $122.3K	0.19% 25.0K shares	Q3 2015 Held for 10y 2m	$4.7B
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	Michael Riccardi CEO	0.00% $160.3K	0.25% 32.8K shares	Q1 2023 Held for 2y 8m	$16.0B

Hedge Fund Spotlight

Discover hedge funds investing in VATE

Whitefort Capital Management, LP

Hedge Fund • Event Driven

Portfolio ManagerDavid Lorin Salanic

Portfolio Value: $287.7M
Positions: 15
Last Reported: Q3 2025

Sector Allocation

Position in Innovate

Market Value: $3.6M
Shares Held: 743.0K
Portfolio Weight: 1.26%
Owned Since: 2021-Q4

Top Holding	Sector	Market Value	Weight
1 Arbutus Biopharma Corporation ABUS	Biotechnology Healthcare	$60.6M	21.06%
2 Roivant Sciences ROIV	Biotechnology Healthcare	$53.4M	18.57%
3 Genworth Financial GNW	Insurance - Life Financial Services	$32.9M	11.45%