Vault-13

FTAC EMERALD ACQUISITION COR FLD

CLASS A COM · Common Stock · CUSIP 29103K100

30 institutional holders +7 vs Q1 2025
1,904,2501.9m shares reported held*
4.1% of all shares outstanding*
$6.4mreported value*
18 new 4 added 5 reduced 11 sold out net bought ≈ $270.7k (-142.9k 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. Holder counts are more reliable. Shares outstanding: 46.8m as of 2025-08-11, 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 ≈ $3.34.

Trends to Q2 2025

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: 3030Q3 22Q2 23Q1 24Q4 24Q2 25
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

Buyers vs sellers

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

Bought or addedCut or sold out
50050Q3 23: 20 bought or addedQ3 23: 50 cut or sold outQ4 23: 8 bought or addedQ4 23: 11 cut or sold outQ4 23Q1 24: 6 bought or addedQ1 24: 18 cut or sold outQ2 24: 3 bought or addedQ2 24: 5 cut or sold outQ2 24Q3 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 25
Numbers
QuarterBought or addedCut or sold out
Q3 20232050
Q4 2023811
Q1 2024618
Q2 202435
Q3 202468
Q4 2024118
Q1 2025233
Q2 20252216

Biggest buyers

Blue Owl Capital Holdings LP New +856,632+856.6k
VANGUARD GROUP INC New +236,586+236.6k
GEODE CAPITAL MANAGEMENT, LLC Added +156,836+156.8k
Baird Financial Group, Inc. New +105,150+105.2k
Union Square Park Capital Management, LLC New +59,156+59.2k
BlackRock, Inc. New +37,155+37.2k
STATE STREET CORP New +37,100+37.1k
OSAIC HOLDINGS, INC. Added +28,166+28.2k
DLD Asset Management, LP New +24,070+24.1k
NORTHERN TRUST CORP New +13,776+13.8k

Biggest sellers

Polar Asset Management Partners Inc. Reduced -581,114-581.1k
Tiptree Advisors, LLC Sold out -225,000-225.0k
Atlas Merchant Capital LLC Reduced -211,601-211.6k
Periscope Capital Inc. Sold out -187,500-187.5k
Harraden Circle Investments, LLC Sold out -175,000-175.0k
THAMES CAPITAL MANAGEMENT LLC Sold out -78,883-78.9k
OMERS ADMINISTRATION Corp Sold out -69,800-69.8k
UBS Group AG Reduced -60,485-60.5k
HRT FINANCIAL LP Sold out -48,561-48.6k
Qube Research & Technologies Ltd Sold out -47,949-47.9k

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 in Q2 2025

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.

None reported in Q2 2025.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Blue Owl Capital Holdings LP 0.62% of their portfolio New York, NY 856,632856.6k $1.9m $1.9m 0.62% New
2 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 236,586236.6k $1.0m $1.0m 0.00% New
3 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 177,176177.2k $749.5k $749.5k 0.00% Added +156.8k +156,836
4 Atlas Merchant Capital LLC 0.14% of their portfolio New York, NY 113,399113.4k $479.7k $479.7k 0.14% Reduced -211.6k -211,601
5 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 105,150105.2k $444.8k $444.8k 0.00% New
6 Polar Asset Management Partners Inc. 0.01% of their portfolio TORONTO, A6 98,88698.9k $418.3k $418.3k 0.01% Reduced -581.1k -581,114
7 Union Square Park Capital Management, LLC 0.22% of their portfolio New York, NY 59,15659.2k $250.2k $250.2k 0.22% New
8 UBS Group AG 0.00% of their portfolio ZURICH, V8 55,34455.3k $234.1k $234.1k 0.00% Reduced -60.5k -60,485
9 BlackRock, Inc. 0.00% of their portfolio New York, NY 37,15537.2k $157.2k $157.2k 0.00% New
10 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 37,10037.1k $156.9k $156.9k 0.00% New
11 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 28,56428.6k $120.8k $120.8k 0.00% Added +28.2k +28,166
12 DLD Asset Management, LP 0.01% of their portfolio NEW YORK, NY 24,07024.1k $101.8k $101.8k 0.01% New
13 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 13,77613.8k $58.3k $58.3k 0.00% New
14 Van Hulzen Asset Management, LLC 0.00% of their portfolio EL DORADO HILLS, CA 10,10010.1k $42.7k $42.7k 0.00% Added +75 +75
15 Harvest Portfolios Group Inc. 0.00% of their portfolio Oakville, A6 10,07010.1k $42.6k $42.6k 0.00% New
16 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 8,6468.6k $36.6k $36.6k 0.00% Reduced -3.8k -3,824
17 FNY Investment Advisers, LLC 0.01% of their portfolio NEW YORK, NY 7,0007.0k $29.0k $29.0k 0.01% New
18 North Capital, Inc. 0.03% of their portfolio SALT LAKE CITY, UT 7,0007.0k $29.6k $29.6k 0.03% New
19 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 6,4856.5k $27.4k $27.4k 0.00% New
20 Golden State Wealth Management, LLC 0.00% of their portfolio SANTA ANA, CA 5,9005.9k $25.0k $25.0k 0.00% New
21 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 2,7392.7k $11.6k $11.6k 0.00% New
22 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 1,2561.3k $6.0k $6.0k 0.00% New
23 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 800800 $3.4k $3.4k 0.00% New
24 PRIVATE TRUST CO NA 0.00% of their portfolio CLEVELAND, OH 500500 $2.1k $2.1k 0.00% New
25 NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio MONTREAL, A8 380380 $1.6k $1.6k 0.00% New
26 SBI Securities Co., Ltd. 0.00% of their portfolio TOKYO, M0 146146 $618 $618 0.00% Added +135 +135
27 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 129129 $546 $546 0.00% Reduced -19.7k -19,739
28 HHM Wealth Advisors, LLC 0.00% of their portfolio CHATTANOOGA, TN 100100 $423 $423 0.00% Unchanged
29 SWAN Capital LLC 0.00% of their portfolio PENSACOLA, FL 55 $21 $21 0.00% Unchanged
30 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged