HCM III ACQUISITION CORP

Ticker: HCMA CUSIP: G4365E103 Class: ORD SHS CL A

Holders for Q4 2025 Position Changes for Q4 2025

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

New Positions (20)

MMCAP International Inc. SPC
Value ($000) $10,040 Shares 1,000,000
Mint Tower Capital Management B.V.
Value ($000) $8 Shares 750,000
Periscope Capital Inc.
Value ($000) $5,020 Shares 500,000
GRITSTONE ASSET MANAGEMENT LLC
Value ($000) $502 Shares 50,000
Magnetar Financial LLC
Value ($000) $10,060 Shares 999,990
AQR Arbitrage LLC
Value ($000) $3,817 Shares 379,387
Alberta Investment Management Corp
Value ($000) $5,533 Shares 550,000
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND
Value ($000) $10,060 Shares 999,999
Virtu Financial LLC
Value ($000) $1 Shares 134,833
MOORE CAPITAL MANAGEMENT, LP
Value ($000) $1,004 Shares 100,000
ABC ARBITRAGE SA
Value ($000) $201 Shares 20,000
COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS
Value ($000) $2,008 Shares 199,998
PenderFund Capital Management Ltd.
Value ($000) $72 Shares 7,200
ARISTEIA CAPITAL, L.L.C.
Value ($000) $251 Shares 25,000
DRIEHAUS CAPITAL MANAGEMENT LLC
Value ($000) $503 Shares 50,000
BNP PARIBAS ARBITRAGE, SA
Value ($000) $1,213 Shares 120,600
UBS Group AG
Value ($000) $383 Shares 38,159
SUSQUEHANNA INTERNATIONAL GROUP, LLP
Value ($000) $274 Shares 27,210
FNY Investment Advisers, LLC
Value ($000) $0 Shares 2,000
MORGAN STANLEY
Value ($000) $1 Shares 67

Increased Positions (10)

Governors Lane LP
Value ($000) $10,040 (+24.2%) Shares 1,000,000 (+25.0%)
DLD Asset Management, LP
Value ($000) $2,108 (+1925.7%) Shares 210,000 (+1938.8%)
Radcliffe Capital Management, L.P.
Value ($000) $7,028 (+21.0%) Shares 700,000 (+21.7%)
MIZUHO SECURITIES USA LLC
Value ($000) $5,265 (+245.0%) Shares 521,090 (+89.5%)
LINDEN ADVISORS LP
Value ($000) $12,072 (+19.5%) Shares 1,200,000 (+20.0%)
BERKLEY W R CORP
Value ($000) $2,901 (+8.2%) Shares 288,927 (+8.9%)
Rangeley Capital, LLC
Value ($000) $141 (+11.3%) Shares 14,046 (+12.1%)
MILLENNIUM MANAGEMENT LLC
Value ($000) $4,425 (+2089.6%) Shares 440,750 (+2103.8%)
TORONTO DOMINION BANK
Value ($000) $2,623 (+21.1%) Shares 261,219 (+21.8%)
GLAZER CAPITAL, LLC
Value ($000) $3 (+5.2%) Shares 317,835 (+5.9%)

Decreased Positions (8)

Harraden Circle Investments, LLC
Value ($000) $4,250 (-53.1%) Shares 423,280 (-52.8%)
HGC Investment Management Inc.
Value ($000) $6,024 (-14.8%) Shares 600,000 (-14.3%)
METEORA CAPITAL, LLC
Value ($000) $14,569 (-12.2%) Shares 1,451,075 (-9.8%)
K2 PRINCIPAL FUND, L.P.
Value ($000) $2,355 (-22.3%) Shares 234,602 (-21.8%)
Verition Fund Management LLC
Value ($000) $9,474 (-18.4%) Shares 941,727 (-18.1%)
WOLVERINE ASSET MANAGEMENT LLC
Value ($000) $3,566 (-13.7%) Shares 355,174 (-13.1%)
Clear Street Group Inc.
Value ($000) $2,420 (-11.6%) Shares 241,000 (-11.0%)
BOOTHBAY FUND MANAGEMENT, LLC
Value ($000) $2,957 (-2.1%) Shares 294,506 (-1.4%)

Exited Positions (2)

StoneX Group Inc.
Value ($000) $505 Shares 50,000
HighTower Advisors, LLC
Value ($000) $1,339 Shares 132,517