Real Asset Acquisition Corp. (RAAQW)

Distributing

Institutional distribution: ownership decreased -1.42% quarter-over-quarter.

Data as of Q1 2026

Institutional Ownership

67.61%

QoQ Change

-1.42%

Total Value

$161.8B

Shares Outstanding

23.0M

Crowding AnalysisCrowded

Holders50of 5,944

Avg: 68

Uncrowded82th percentileCrowded

Institutional Activity

Buy/Sell Ratio0.74x

57th percentile

25 buying34 selling

+19

New

-13

Closed

-492,466

Net shares

Holding Period Distribution

estimate

Median: 2 QAvg: 2.3 QHolders: 50

Ownership Concentration

Top 5: 55.4%Top 10: 83.4%

Fort Baker Capital Management16.9%

TENOR CAPITAL MANAGEMENT Co., L.P.12.1%

ARISTEIA CAPITAL, L.L.C.10.1%

AQR Arbitrage8.6%

Saba Capital Management, L.P.7.7%

Others (45)44.6%

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Conviction-Weighted Ownership

Median weight: 0.17%Avg weight: 0.31%Max: 1.51%High conviction (>1%): 1

Fort Baker Capital Management

TENOR CAPITAL MANAGEMENT Co., L.P.

ARISTEIA CAPITAL, L.L.C.

AQR Arbitrage

Saba Capital Management, L.P.

Magnetar Financial

LMR Partners LLP

Alberta Investment Management

QVT Financial

WHITEBOX ADVISORS

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Whale Moves Timeline (3 Quarters)

Biggest dollar-value position changes among top 10 holders

NEWFort Baker Capital Management$19M2.6M shr

NEWQVT Financial$8M763K shr

NEWWHITEBOX ADVISORS$6M750K shr

SOLDAQR Arbitrage$2M282K shr

SOLDSaba Capital Management, L.P.$2M290K shr

NEWAlberta Investment Management$6M825K shr

SOLDHudson Bay Capital Management$2M225K shr

BOUGHTCSS LLC/IL$89K18K shr

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Institutional Trends (4 Quarters)

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Institutional Holders

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