REEDS INC COM PAR $0 0001

Armistice Capital dominates at roughly $2.0 million — about 73% of the entire disclosed value. The remaining holders are index funds: Vanguard ($298K) and Geode ($212K). Armistice is a long/short fund, so its outsized stake is the only real conviction position in the name; everything else is incidental index exposure.

For REED readers, the institutional story is single-holder dependence on Armistice. With no other active manager of size, the stock's 13F profile rests on that one position, and the small absolute dollars elsewhere mean the rest of the register carries little signal.