TALON CAP CORP

Ticker: TLNCU CUSIP: G86652115 Class: UNIT 08/27/2030

Holders for Q4 2025 Position Changes for Q4 2025

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

Increased Positions (2)

Ground Swell Capital, LLC
Value ($000) $149 (+10.9%) Shares 14,480 (+8.4%)
Aventail Capital Group, LP
Value ($000) $7,278 (+3.5%) Shares 707,251 (+1.0%)

Decreased Positions (9)

Bulldog Investors, LLP
Value ($000) $156 (-90.8%) Shares 15,250 (-91.0%)
Sandia Investment Management LP
Value ($000) $206 (-17.8%) Shares 20,000 (-19.7%)
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND
Value ($000) $0 (-100.0%) Shares 1 (-100.0%)
READYSTATE ASSET MANAGEMENT LP
Value ($000) $958 (-33.3%) Shares 93,404 (-34.8%)
Clear Street Group Inc.
Value ($000) $155 (-93.9%) Shares 15,109 (-94.0%)
Quarry LP
Value ($000) $206 (-17.8%) Shares 20,000 (-19.7%)
TORONTO DOMINION BANK
Value ($000) $1,948 (-21.2%) Shares 189,321 (-23.0%)
HEIGHTS CAPITAL MANAGEMENT, INC
Value ($000) $247 (-1.0%) Shares 24,104 (-3.2%)
HRT FINANCIAL LP
Value ($000) $1 (-11.1%) Shares 50,000 (-13.2%)

Exited Positions (27)

GRITSTONE ASSET MANAGEMENT LLC
Value ($000) $1,507 Shares 150,000
K2 PRINCIPAL FUND, L.P.
Value ($000) $4,523 Shares 450,000
Mint Tower Capital Management B.V.
Value ($000) $5 Shares 450,000
Radcliffe Capital Management, L.P.
Value ($000) $5,318 Shares 529,232
AQR Arbitrage LLC
Value ($000) $11,617 Shares 1,158,216
Periscope Capital Inc.
Value ($000) $1,366 Shares 135,900
Context Capital Management, LLC
Value ($000) $4,522 Shares 450,000
TENOR CAPITAL MANAGEMENT Co., L.P.
Value ($000) $8,039 Shares 800,000
LINDEN ADVISORS LP
Value ($000) $15,045 Shares 1,500,000
Cable Car Capital, LP
Value ($000) $1,005 Shares 100,000
MOORE CAPITAL MANAGEMENT, LP
Value ($000) $6,029 Shares 600,000
Shaolin Capital Management LLC
Value ($000) $2,292 Shares 228,129
Warberg Asset Management LLC
Value ($000) $603 Shares 60,000
DLD Asset Management, LP
Value ($000) $1,005 Shares 100,000
Saba Capital Management, L.P.
Value ($000) $1,995 Shares 198,517
WHITEBOX ADVISORS LLC
Value ($000) $3,015 Shares 300,000
ADAGE CAPITAL PARTNERS GP, L.L.C.
Value ($000) $20,349 Shares 2,025,000
Hudson Bay Capital Management LP
Value ($000) $5,617 Shares 560,000
TWO SIGMA INVESTMENTS, LP
Value ($000) $8,196 Shares 815,625
GLAZER CAPITAL, LLC
Value ($000) $1 Shares 146,716