Broker Data, page-666

Broker data for the last week in June, and the first two weeks in July, attached.

Citigroup, Morgan Stanley and JPM have continued to acquire - they are at +1.5m, +1.3m and +.95m shares for the last twelve months - also included below - respectively, on behalf of unknown participants - any ideas? Which of the usual suspects use these brokers? The only other broker with net volume >+1m shares over that same period is Macquarie (+1.5m), which I inferred was on behalf of the Global X Copper Miners ETF, which currently holds 1.6m shares, here.

Citicorp nominees already had a +3m position, roughly 5% of shares outstanding, as of the 2023 annual report top holdings, so I'm surprised that there hasn't been anything revealed in a substantial holding yet in relation to Citi. Regal reported their substantial holding the day before that as 2m shares with Merrill, 500k with each of JPM and UBS, and only ~half of those seem to appear to be accounted for on the annual report top holdings, so perhaps some were in Citi's custody when the annual report was stated..?

Lastly, I've isolated July 11th-12th, the reported days since the capital raise, below. Significant selling - ML -130k, JPM -110k, -UBS -80k - from each of Regal's three custodians on their last substantial holding report. It seems strange that they would sell so aggressively after the price drop, and not before, unless they are buying back via the cap raise..