Vault-13

FTAC EMERALD ACQUISITION COR FLD

CLASS A COM · Common Stock · CUSIP 29103K100

51 institutional holders -4 vs Q1 2026
3,898,9933.9m shares reported held*
7.1% of all shares outstanding*
$1.7mreported value*
16 new 12 added 16 reduced 20 sold out net sold ≈ $82.8k (-182.7k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($1.4k this quarter). Holder counts are more reliable. Shares outstanding: 55.1m as of 2026-08-09, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $0.45. Options: 3 managers hold calls ($90.1k notional), 1 hold puts ($362).

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0255075Q3 22: 58Q4 22: 61Q1 23: 58Q2 23: 62Q3 23: 33Q4 23: 27Q1 24: 20Q2 24: 18Q3 24: 20Q4 24: 3Q1 25: 23Q2 25: 30Q3 25: 36Q4 25: 43Q1 26: 55Q2 26: 5151Q3 22Q3 23Q3 24Q3 25Q2 26
Numbers
QuarterHolders
Q3 202258
Q4 202261
Q1 202358
Q2 202362
Q3 202333
Q4 202327
Q1 202420
Q2 202418
Q3 202420
Q4 20243
Q1 202523
Q2 202530
Q3 202536
Q4 202543
Q1 202655
Q2 202651

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
40040Q3 24: 6 bought or addedQ3 24: 8 cut or sold outQ4 24: 1 bought or addedQ4 24: 18 cut or sold outQ4 24Q1 25: 23 bought or addedQ1 25: 3 cut or sold outQ2 25: 22 bought or addedQ2 25: 16 cut or sold outQ2 25Q3 25: 23 bought or addedQ3 25: 15 cut or sold outQ4 25: 29 bought or addedQ4 25: 21 cut or sold outQ4 25Q1 26: 35 bought or addedQ1 26: 16 cut or sold outQ2 26: 28 bought or addedQ2 26: 36 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 202468
Q4 2024118
Q1 2025233
Q2 20252216
Q3 20252315
Q4 20252921
Q1 20263516
Q2 20262836

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$200k$400k$600k$800kQ3 25 calls: $744.8kQ3 25 puts: $625.5kQ3 25P/C 0.84Q4 25 calls: $168.6kQ4 25 puts: $17.2kQ4 25P/C 0.10Q1 26 calls: $281.0kQ1 26 puts: $38.9kQ1 26P/C 0.14Q2 26 calls: $90.1kQ2 26 puts: $362Q2 26P/C 0.00
Numbers
QuarterCallsPutsP/C
Q3 2025$744.8k$625.5k0.84
Q4 2025$168.6k$17.2k0.10
Q1 2026$281.0k$38.9k0.14
Q2 2026$90.1k$3620.00

Biggest buyers

HRT FINANCIAL LP New +223,550+223.6k
JANE STREET GROUP, LLC New +131,624+131.6k
AQR CAPITAL MANAGEMENT LLC Added +87,718+87.7k
Qube Research & Technologies Ltd New +80,485+80.5k
UBS Group AG Added +68,095+68.1k
Tower Research Capital LLC (TRC) Added +38,145+38.1k
XTX Topco Ltd New +35,043+35.0k
Marex Group Ltd New +22,500+22.5k
IEQ CAPITAL, LLC New +20,609+20.6k
Virtu Financial LLC New +15,012+15.0k

Biggest sellers

VANGUARD CAPITAL MANAGEMENT LLC Reduced -463,675-463.7k
GEODE CAPITAL MANAGEMENT, LLC Reduced -149,261-149.3k
MARSHALL WACE, LLP Sold out -62,189-62.2k
VANGUARD PORTFOLIO MANAGEMENT LLC Sold out -36,254-36.3k
VANGUARD FIDUCIARY TRUST CO Reduced -30,155-30.2k
STATE STREET CORP Reduced -29,500-29.5k
Shay Capital LLC Sold out -28,144-28.1k
Abel Hall, LLC Sold out -23,764-23.8k
NORTHERN TRUST CORP Reduced -21,813-21.8k
CHARLES SCHWAB INVESTMENT MANAGEMENT INC Sold out -15,777-15.8k

Biggest calls

CITADEL ADVISORS LLC Added $87.2k192.3k shares
SIMPLEX TRADING, LLC Added $2.7k5.9k shares
GROUP ONE TRADING LLC Reduced $227500 shares

Biggest puts

SIMPLEX TRADING, LLC Reduced $362800 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
Fulgur Frontier Capital LP 13D · may seek influence no change · filed 2026-03-17
Stated purposeThe Shares were acquired based on the belief that the Shares were undervalued and represented an attractive investment opportunity. Depending on overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of the Shares at prices that would make the purchase or sale of Common Stock desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer through, among other things, the purchase or sale of Common Stock on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable. No Reporting Person has any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) - (j) of Item 4 of Sche… Full filing
37.5% no change 18.1m≈ $8.2m 2026-03-17
Kirkwood Jonathan 13D · may seek influence +1.1 pts · filed 2026-03-03
Stated purposeThe Reporting Persons are filing this Schedule 13D/A to report a change in their respective beneficial ownership percentages of the shares of Common Stock. Ten31 Join the Fold LLC disposed of all 1,682,670 shares of Common Stock reported in the initial 13D filing on December 19, 2025, 144,311 of which were distributed to Jonathan Kirkwood in exchange for no consideration. Additionally, Dr. Kirkwood obtained beneficial ownership of 112,500 shares through a grant of restricted stock units on June 3, 2025. SATS Credit Fund, LP acquired 520,000 shares of Common Stock in a transaction with the Issuer on February 26, 2026 (as further described in Item 6), and 750,000 shares of Common Stock and 925,590 warrants to purchase shares of Common Stock on March 5, 2025. Dr. Kirkwood is a director of… Full filing
12.0% +1.1 pts 5.8m≈ $2.6m 2026-03-03
SZOP Multistrat Management LLC 13G · passive investor no change · filed 2026-02-17 9.9% no change 5.4m≈ $2.4m 2026-02-17
CRAFT VENTURES II, L.P. 13G · passive investor new · filed 2025-03-11 7.9% new 3.6m≈ $1.7m 2025-03-11
Reeves William Brian Poppic 13D · may seek influence new · filed 2025-03-11
Stated purposeThe purpose of this filing is to report the acquisition of beneficial ownership by Will Reeves of 3,110,568 shares of the Issuer's Common Stock. As noted above, Will Reeves is the Chief Executive Officer of the Issuer. As such, he participates in the management of the Issuer. The Reporting Person may from time to time develop plans respecting, or propose changes in, the management, composition of the board of directors, operations, capital structure or business of the Issuer. Depending upon market conditions and other factors that the Reporting Person deems material, he may purchase additional Common Stock or other securities of the Issuer in the open market, private transactions or from the Issuer, or may dispose of all or a portion of the Common Stock or other securities of the Issuer t… Full filing
6.7% new 3.1m≈ $1.4m 2025-03-11

Fell to 5% or below in the last year: ATW Partners Opportunities Management, LLC (3.3%, 2026-05-15)

Insider purchases and sales since 1 Apr 2026

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

Officers and directors buying vs selling

Number of people, by quarter (10% owners not included)

BuyingSelling
404Q4 24: 0 buyingQ4 24: 0 sellingQ1 25: 0 buyingQ1 25: 0 sellingQ1 25Q2 25: 0 buyingQ2 25: 0 sellingQ3 25: 1 buyingQ3 25: 0 sellingQ3 25Q4 25: 1 buyingQ4 25: 0 sellingQ1 26: 0 buyingQ1 26: 3 sellingQ1 26Q2 26: 2 buyingQ2 26: 4 sellingQ3 26: 1 buyingQ3 26: 4 sellingQ3 26
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q4 20240—0——
Q1 20250—0——
Q2 20250—0——
Q3 20251$59.0k0——
Q4 20251$25.3k0——
Q1 20260—3$143.7k—
Q2 20262$84.9k4$121.6k—
Q3 20261$11.0k4$39.1k—
DateInsiderTradeSharesPrice ValueTheir holding
2026-09-11 Young Bracebridge H Jr Director · By 1999 Family Trust Bought 20,000 $0.55 $11.0k20.0k shares +40%
2026-09-02 Reeves William Brian Poppic Chief Executive Officer Sold 5,781 $0.46 $2.7k5.8k shares -<1%
2026-09-02 Repass Wolfe Chief Financial Officer Sold 1,342 $0.46 $6171.3k shares -<1%
2026-09-02 Dickman Thomas J Chief Technology Officer Sold 6 $0.46 $36 shares -<1%
2026-08-25 Reeves William Brian Poppic Chief Executive Officer Sold 9,427 $0.50 $4.7k9.4k shares -<1%
2026-08-24 Reeves William Brian Poppic Chief Executive Officer Sold 8,905 $0.48 $4.3k8.9k shares -<1%
2026-08-21 Reeves William Brian Poppic Chief Executive Officer Sold 10,045 $0.49 $4.9k10.0k shares -<1%
2026-08-20 Reeves William Brian Poppic Chief Executive Officer Sold 8,911 $0.48 $4.3k8.9k shares -<1%
2026-08-19 Reeves William Brian Poppic Chief Executive Officer Sold 9,480 $0.45 $4.3k9.5k shares -<1%
2026-08-18 Reeves William Brian Poppic Chief Executive Officer Sold 9,619 $0.45 $4.3k9.6k shares -<1%
2026-08-18 Repass Wolfe Chief Financial Officer Sold 2,877 $0.45 $1.3k2.9k shares -<1%
2026-08-17 Dickman Thomas J Chief Technology Officer Sold 2,884 $0.46 $1.3k2.9k shares -0%
2026-08-03 Reeves William Brian Poppic Chief Executive Officer Sold 5,082 $0.47 $2.4k5.1k shares -<1%
2026-08-03 Repass Wolfe Chief Financial Officer Sold 1,180 $0.47 $5551.2k shares -<1%
2026-08-03 Dickman Thomas J Chief Technology Officer Sold 5 $0.47 $25 shares -<1%
2026-07-22 McManus Matt Chief Operating Officer Sold 2,109 $0.45 $9492.1k shares -0%
2026-07-02 Reeves William Brian Poppic Chief Executive Officer Sold 4,868 $0.49 $2.4k4.9k shares -<1%
2026-07-02 Repass Wolfe Chief Financial Officer Sold 1,131 $0.49 $5541.1k shares -<1%
2026-07-02 Dickman Thomas J Chief Technology Officer Sold 5 $0.49 $25 shares -<1%
2026-06-12 Kirkwood Jonathan Director Bought 105,000 $0.61 $64.0k105.0k shares +30%
2026-06-02 Reeves William Brian Poppic Chief Executive Officer Sold 5,639 $0.91 $5.1k5.6k shares -<1%
2026-06-02 Repass Wolfe Chief Financial Officer Sold 1,310 $0.91 $1.2k1.3k shares -<1%
2026-06-02 Dickman Thomas J Chief Technology Officer Sold 6 $0.91 $56 shares -<1%
2026-05-28 Reeves William Brian Poppic Chief Executive Officer Sold 8,113 $0.99 $8.0k8.1k shares -<1%
2026-05-27 Young Bracebridge H Jr Director · By 1999 Family Trust Bought 10,000 $1.03 $10.3k10.0k shares +25%
2026-05-27 Reeves William Brian Poppic Chief Executive Officer Sold 8,841 $0.99 $8.8k8.8k shares -<1%
2026-05-26 Reeves William Brian Poppic Chief Executive Officer Sold 9,221 $1.06 $9.8k9.2k shares -<1%
2026-05-22 Reeves William Brian Poppic Chief Executive Officer Sold 8,698 $1.15 $10.0k8.7k shares -<1%
2026-05-21 Reeves William Brian Poppic Chief Executive Officer Sold 7,713 $1.22 $9.4k7.7k shares -<1%
2026-05-20 Repass Wolfe Chief Financial Officer Sold 3,126 $1.21 $3.8k3.1k shares -<1%

The latest 30 of 44 trades.

Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio MALVERN, PA 1,275,9891.3m $578.0k $578.0k 0.00% Reduced -463.7k -463,675
2 Blue Owl Capital Holdings LP 0.06% of their portfolio New York, NY 856,632856.6k $385.5k $385.5k 0.06% Unchanged
3 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 223,550223.6k $101.0k $101.0k 0.00% New
4 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 203,968204.0k $92.5k $92.5k 0.00% Added +87.7k +87,718
5 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 153,675153.7k $69.7k $69.7k 0.00% Reduced -149.3k -149,261
6 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 131,624131.6k $59.7k $59.7k 0.00% New
7 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 105,150105.2k $47.7k $47.7k 0.00% Unchanged
8 BlackRock, Inc. 0.00% of their portfolio New York, NY 96,51796.5k $43.8k $43.8k 0.00% Added +929 +929
9 Union Square Park Capital Management, LLC 0.03% of their portfolio New York, NY 89,13089.1k $40.4k $40.4k 0.03% Unchanged
10 UBS Group AG 0.00% of their portfolio ZURICH, V8 84,60184.6k $38.3k $38.3k 0.00% Added +68.1k +68,095
11 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 80,48580.5k $36.5k $36.5k 0.00% New
12 VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio MALVERN, PA 74,05974.1k $33.5k $33.5k 0.00% Reduced -30.2k -30,155
13 BOUSSARD & GAVAUDAN GESTION SAS 0.00% of their portfolio PARIS, I0 72,26072.3k $7.6k $7.6k 0.00% First filing
14 Mariner, LLC 0.00% of their portfolio Overland Park, KS 71,65971.7k $32.5k $32.5k 0.00% Added +3.8k +3,790
15 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 57,80057.8k $26.2k $26.2k 0.00% Reduced -29.5k -29,500
16 Cypress Point Wealth Management, LLC 0.00% of their portfolio DALLAS, TX 53,60453.6k $24.3k $24.3k 0.00% Unchanged
17 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 44,86344.9k $20.3k $20.3k 0.00% Added +38.1k +38,145
18 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 40,93540.9k $18.6k $18.6k 0.00% Reduced -21.8k -21,813
19 XTX Topco Ltd 0.00% of their portfolio LONDON, X0 35,04335.0k $15.9k $15.9k 0.00% New
20 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 30,96831.0k $14.0k $14.0k 0.00% Added +14.1k +14,090
21 Marex Group Ltd 0.00% of their portfolio London, X0 22,50022.5k $10.2k $10.2k 0.00% New
22 IEQ CAPITAL, LLC 0.00% of their portfolio Foster City, CA 20,60920.6k $9.3k $9.3k 0.00% New
23 Virtu Financial LLC 0.00% of their portfolio New York, NY 15,01215.0k $7.0k $7.0k 0.00% New
24 FMR LLC 0.00% of their portfolio BOSTON, MA 12,50512.5k $5.7k $5.7k 0.00% Reduced -12.1k -12,107
25 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 11,95112.0k $5.4k $5.4k 0.00% Reduced -203 -203
26 Vanguard Personalized Indexing Management, LLC 0.00% of their portfolio OAKLAND, CA 11,24311.2k $5.1k $5.1k 0.00% New
27 SIMPLEX TRADING, LLC 0.00% of their portfolio CHICAGO, IL 5,1675.2k $2.3k $2.3k 0.00% Reduced -235 -235
28 Integrated Wealth Concepts LLC 0.00% of their portfolio WALTHAM, MA 3,3493.3k $1.5k $1.5k 0.00% New
29 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 3,2923.3k $1.5k $1.5k 0.00% Reduced -4.9k -4,926
30 Arax Advisory Partners 0.00% of their portfolio NEW YORK, NY 3,2083.2k $1.5k $1.5k 0.00% Added +3.2k +3,181
31 FNY Investment Advisers, LLC 0.00% of their portfolio NEW YORK, NY 3,0003.0k $1.0k $1.0k 0.00% Unchanged
32 Physician Wealth Advisors, Inc. 0.00% of their portfolio MIDVALE, UT 1,7541.8k $796 $796 0.00% New
33 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 1,5361.5k $696 $696 0.00% Reduced -1.1k -1,141
34 GROUP ONE TRADING LLC 0.00% of their portfolio CHICAGO, IL 1,1001.1k $499 $499 0.00% New
35 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 966966 $438 $438 0.00% Reduced -107 -107
36 PRIVATE TRUST CO NA 0.00% of their portfolio CLEVELAND, OH 750750 $340 $340 0.00% Unchanged
37 EverSource Wealth Advisors, LLC 0.00% of their portfolio BIRMINGHAM, AL 497497 $225 $225 0.00% Added +286 +286
38 SBI Securities Co., Ltd. 0.00% of their portfolio TOKYO, M0 241241 $109 $109 0.00% Added +120 +120
39 ROTHSCHILD INVESTMENT LLC 0.00% of their portfolio CHICAGO, IL 208208 $94 $94 0.00% Added +171 +171
40 Transamerica Financial Advisors, LLC 0.00% of their portfolio CEDAR RAPIDS, IA 186186 $84 $84 0.00% New
41 Allworth Financial LP 0.00% of their portfolio FOLSOM, CA 172172 $78 $78 0.00% Added +35 +35
42 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 134134 $0 $0 0.00% New
43 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 7979 $36 $36 0.00% Reduced -1.7k -1,699
44 Essential Partners LLC 0.00% of their portfolio RANCHO SANTA FE, CA 7474 $34 $34 0.00% Reduced -688 -688
45 Fortitude Family Office, LLC 0.00% of their portfolio SCOTTSDALE, AZ 4848 $22 $22 0.00% New
46 True Wealth Design, LLC 0.00% of their portfolio AKRON, OH 2020 $10 $10 0.00% Added +14 +14
47 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 1111 $5 $5 0.00% Reduced -3 -3
48 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 88 $4 $4 0.00% Reduced -16 -16
49 SJS Investment Consulting Inc. 0.00% of their portfolio SYLVANIA, OH 44 $2 $2 0.00% Reduced -1 -1
50 Caitong International Asset Management Co., Ltd 0.00% of their portfolio HONG KONG, K3 11 $0 $0 0.00% New
51 JPL Wealth Management, LLC 0.00% of their portfolio GREENWOOD VILLAGE, CO 11 $1 $1 0.00% New