# ARMADA ACQUISITION CORP II (XRPNW)

> Institutional ownership reported to the SEC as of Q2 2026, from Form 13F filings. Source: https://holderbook.com/stocks/XRPNW/

- Reporting holders: 33
- Reported value: $6.2M
- Held through calls: 1.0%
- Held through puts: 0.0%

A 13F reports long US equity positions only. Shorts, bonds, foreign listings and cash are not visible here, and positions are disclosed up to 45 days after the quarter ends.

## Largest holders

| Manager | Value | Shares | Share of their book | Quarters held |
|---|---|---|---|---|
| [TENOR CAPITAL MANAGEMENT Co., L.P.](https://holderbook.com/funds/1346554-tenor-capital-management-co-l-p/) | $637.5K | 750,000 | 0.0% | 4 |
| [Linden Advisors LP](https://holderbook.com/funds/1279396-linden-advisors-lp/) | $555.0K | 681,000 | 0.0% | 5 |
| [ARISTEIA CAPITAL, L.L.C.](https://holderbook.com/funds/1080171-aristeia-capital-l-l-c/) | $457.4K | 561,206 | 0.0% | 5 |
| [AQR Arbitrage LLC](https://holderbook.com/funds/1167456-aqr-arbitrage-llc/) | $417.4K | 556,426 | 0.0% | 4 |
| [HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND](https://holderbook.com/funds/1535845-healthcare-of-ontario-pension-plan-trust-fund/) | $297.5K | 350,000 | 0.0% | 5 |
| [Magnetar Financial LLC](https://holderbook.com/funds/1352851-magnetar-financial-llc/) | $290.0K | 341,200 | 0.0% | 5 |
| [Polar Asset Management Partners Inc.](https://holderbook.com/funds/1326389-polar-asset-management-partners-inc/) | $255.0K | 300,000 | 0.0% | 5 |
| [Shaolin Capital Management LLC](https://holderbook.com/funds/1766806-shaolin-capital-management-llc/) | $249.2K | 293,200 | 0.0% | 5 |
| [Wealthspring Capital LLC](https://holderbook.com/funds/1844495-wealthspring-capital-llc/) | $247.2K | 290,865 | 0.1% | 4 |
| [LMR Partners LLP](https://holderbook.com/funds/1578621-lmr-partners-llp/) | $242.8K | 285,704 | 0.0% | 5 |
| [Hudson Bay Capital Management LP](https://holderbook.com/funds/1393825-hudson-bay-capital-management-lp/) | $205.5K | 241,707 | 0.0% | 5 |
| [Context Capital Management, LLC](https://holderbook.com/funds/1301396-context-capital-management-llc/) | $191.2K | 225,000 | 0.0% | 5 |
| [Verition Fund Management LLC](https://holderbook.com/funds/1454027-verition-fund-management-llc/) | $177.6K | 208,926 | 0.0% | 5 |
| [RIVERNORTH CAPITAL MANAGEMENT, LLC](https://holderbook.com/funds/1447578-rivernorth-capital-management-llc/) | $177.2K | 253,166 | 0.0% | 4 |
| [CITADEL ADVISORS LLC](https://holderbook.com/funds/1423053-citadel-advisors-llc/) | $170.0K | 200,000 | 0.0% | 4 |
| [BNP PARIBAS FINANCIAL MARKETS](https://holderbook.com/funds/1166588-bnp-paribas-financial-markets/) | $155.7K | 183,174 | 0.0% | 4 |
| [Saba Capital Management, L.P.](https://holderbook.com/funds/1510281-saba-capital-management-l-p/) | $149.6K | 183,597 | 0.0% | 4 |
| [RK Capital Management, LLC/FL](https://holderbook.com/funds/1905218-rk-capital-management-llc-fl/) | $141.7K | 166,711 | 0.0% | 3 |
| [Clear Street Group Inc.](https://holderbook.com/funds/1881567-clear-street-group-inc/) | $130.0K | 152,897 | 0.0% | 4 |
| [Arrington Capital Management, LLC](https://holderbook.com/funds/2087115-arrington-capital-management-llc/) | $119.0K | 140,000 | 0.1% | 3 |
| [Mint Tower Capital Management B.V.](https://holderbook.com/funds/1666606-mint-tower-capital-management-b-v/) | $106.0K | 125,000 | 0.0% | 4 |
| [Westchester Capital Management, LLC](https://holderbook.com/funds/1512805-westchester-capital-management-llc/) | $85.0K | 100,055 | 0.0% | 3 |
| [WHITEBOX ADVISORS LLC](https://holderbook.com/funds/1257391-whitebox-advisors-llc/) | $85.0K | 100,000 | 0.0% | 4 |
| [MOORE CAPITAL MANAGEMENT, LP](https://holderbook.com/funds/1448574-moore-capital-management-lp/) | $85.0K | 100,000 | 0.0% | 4 |
| [Radcliffe Capital Management, L.P.](https://holderbook.com/funds/1218275-radcliffe-capital-management-l-p/) | $81.5K | 99,984 | 0.0% | 5 |

## Quarter by quarter

| Quarter | Holders | Reported value |
|---|---|---|
| Q2 2026 | 33 | $6.2M |
| Q1 2026 | 39 | $4.9M |
| Q4 2025 | 39 | $8.2M |
| Q3 2025 | 48 | $9.2M |
| Q2 2025 | 22 | $1.4M |