D. BORAL ARC ACQ I CORP.

Ticker: BCAR CUSIP: G2616F101 Class: SHS CL A

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

New Positions (13)

HEIGHTS CAPITAL MANAGEMENT, INC
Value ($000) $248 Shares 24,757
PICTON MAHONEY ASSET MANAGEMENT
Value ($000) $2,758 Shares 275,000
Magnetar Financial LLC
Value ($000) $4,764 Shares 475,000
OMERS ADMINISTRATION Corp
Value ($000) $5,015 Shares 500,000
PenderFund Capital Management Ltd.
Value ($000) $295 Shares 29,400
ABC ARBITRAGE SA
Value ($000) $351 Shares 35,000
BNP PARIBAS ARBITRAGE, SA
Value ($000) $3,022 Shares 301,302
HighTower Advisors, LLC
Value ($000) $1,694 Shares 168,867
Karpus Management, Inc.
Value ($000) $105 Shares 10,500
JPMORGAN CHASE & CO
Value ($000) $500 Shares 49,844
JANE STREET GROUP, LLC
Value ($000) $127 Shares 12,629
UBS Group AG
Value ($000) $3 Shares 300
MORGAN STANLEY
Value ($000) $1 Shares 78

Increased Positions (10)

METEORA CAPITAL, LLC
Value ($000) $19,341 (+1302.5%) Shares 1,928,291 (+1288.5%)
Bulldog Investors, LLP
Value ($000) $2,758 (+102.0%) Shares 275,000 (+100.0%)
Radcliffe Capital Management, L.P.
Value ($000) $5,513 (+21.9%) Shares 549,672 (+20.7%)
RIVERNORTH CAPITAL MANAGEMENT, LLC
Value ($000) $2,503 (+32.6%) Shares 249,512 (+31.3%)
Shaolin Capital Management LLC
Value ($000) $8,526 (+7.5%) Shares 850,000 (+6.4%)
WOLVERINE ASSET MANAGEMENT LLC
Value ($000) $11,383 (+34.9%) Shares 1,134,863 (+33.5%)
DLD Asset Management, LP
Value ($000) $1,337 (+34.7%) Shares 133,333 (+33.3%)
MIZUHO SECURITIES USA LLC
Value ($000) $2,079 (+14.1%) Shares 207,537 (+12.8%)
Verition Fund Management LLC
Value ($000) $975 (+96.6%) Shares 97,244 (+94.5%)
StoneX Group Inc.
Value ($000) $786 (+5.6%) Shares 78,393 (+4.5%)

Decreased Positions (13)

Crossingbridge Advisors, LLC
Value ($000) $2,341 (-18.8%) Shares 233,359 (-19.6%)
Periscope Capital Inc.
Value ($000) $4,075 (-17.9%) Shares 406,300 (-18.7%)
Sculptor Capital LP
Value ($000) $7,523 (-64.5%) Shares 750,000 (-64.9%)
AQR Arbitrage LLC
Value ($000) $9,515 (-23.3%) Shares 948,694 (-24.1%)
Westchester Capital Management, LLC
Value ($000) $10,055 (-8.4%) Shares 1,002,475 (-9.4%)
Polar Asset Management Partners Inc.
Value ($000) $19,054 (-11.7%) Shares 1,899,664 (-12.5%)
Warberg Asset Management LLC
Value ($000) $1,147 (-17.5%) Shares 114,331 (-18.3%)
GLAZER CAPITAL, LLC
Value ($000) $20 (-1.5%) Shares 1,998,581 (-2.5%)
Clear Street Group Inc.
Value ($000) $1,929 (-61.6%) Shares 192,358 (-61.9%)
TORONTO DOMINION BANK
Value ($000) $7,743 (-20.1%) Shares 772,000 (-20.9%)
Schonfeld Strategic Advisors LLC
Value ($000) $2,307 (-9.8%) Shares 230,000 (-10.7%)
TWO SIGMA INVESTMENTS, LP
Value ($000) $8,882 (-1.3%) Shares 885,577 (-2.3%)
Virtu Financial LLC
Value ($000) $0 (-25.3%) Shares 21,245 (-26.0%)

Exited Positions (2)

Harraden Circle Investments, LLC
Value ($000) $2,001 Shares 201,548
TrueMark Investments, LLC
Value ($000) $99 Shares 10,000