Ribbon Acquisition Corp. (RIBBU)

Accumulating

Strong institutional accumulation: ownership increased +9.36% quarter-over-quarter.

Data as of Q1 2026

Institutional Ownership

95.14%

QoQ Change

+9.36%

Total Value

$812.6M

Shares Outstanding

4.8M

Crowding AnalysisCrowded

Holders20of 5,944

Avg: 68

Uncrowded75th percentileCrowded

Institutional Activity

Buy/Sell Ratio0.62x

43th percentile

8 buying13 selling

New

-7

Closed

-802,453

Net shares

Holding Period Distribution

estimate

Median: 4 QAvg: 3.2 QHolders: 20

Ownership Concentration

Top 5: 67.0%Top 10: 109.3%

Harraden Circle Investments,18.8%

RIVERNORTH CAPITAL MANAGEMENT,17.5%

Hudson Bay Capital Management10.9%

WOLVERINE ASSET MANAGEMENT10.3%

HIGHBRIDGE CAPITAL MANAGEMENT9.4%

Others (15)33.0%

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Conviction-Weighted Ownership

Median weight: 0.02%Avg weight: 0.05%Max: 0.21%High conviction (>1%): 0

Harraden Circle Investments,

RIVERNORTH CAPITAL MANAGEMENT,

Hudson Bay Capital Management

WOLVERINE ASSET MANAGEMENT

HIGHBRIDGE CAPITAL MANAGEMENT

JPMORGAN CHASE &

Polar Asset Management Partners

Westchester Capital Management,

AQR Arbitrage

Clear Street Group

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Whale Moves Timeline (4 Quarters)

Biggest dollar-value position changes among top 10 holders

NEWWestchester Capital Management$4M376K shr

SOLDWOLVERINE ASSET MANAGEMENT$934K138K shr

NEWJPMORGAN CHASE$82K430K shr

SOLDPolar Asset Management Partners$70K400K shr

BOUGHTClear Street Group$50K24K shr

NEWHEIGHTS CAPITAL MANAGEMENT$2M386K shr

BOUGHTRIVERNORTH CAPITAL MANAGEMENT$528K100K shr

NEWClear Street Group$480K329K shr

SOLDAQR Arbitrage$317K60K shr

SOLDWOLVERINE ASSET MANAGEMENT$134K18K shr

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Institutional Trends (5 Quarters)

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Institutional Holders

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