MERLIN INC MRLN
COM · Common Stock · CUSIP 590106100
- SectorTechnology
- IndustryServices-Computer Integrated Systems Design
- HeadquartersNew York, NY
- FilingsSEC EDGAR
* 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. Implied quarter-end price ≈ $5.69. Options: 9 managers hold calls ($25.2m notional), 6 hold puts ($5.7m).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q1 2026 | 29 |
| Q2 2026 | 62 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $0 | $0 | — |
| Q4 2025 | $0 | $0 | — |
| Q1 2026 | $0 | $0 | — |
| Q2 2026 | $25.2m | $5.7m | 0.23 |
Biggest buyers
| Alyeska Investment Group, L.P. | New | +7.4m |
| UBS Group AG | Added | +761.8k |
| BlackRock, Inc. | New | +711.9k |
| XTX Topco Ltd | Added | +402.2k |
| VANGUARD CAPITAL MANAGEMENT LLC | New | +391.8k |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +376.8k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | +358.6k |
| JANE STREET GROUP, LLC | Added | +228.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | New | +224.4k |
| VANGUARD FIDUCIARY TRUST CO | New | +184.7k |
Biggest sellers
| ExodusPoint Capital Management, LP | Reduced | -258.3k |
| CONTINENTAL GENERAL INSURANCE CO | Sold out | -239.9k |
| Greenhaven Road Investment Management, L.P. | Sold out | -108.2k |
| GOLDMAN SACHS GROUP INC | Sold out | -78.7k |
| MOORE CAPITAL MANAGEMENT, LP | Sold out | -75.0k |
| Diametric Capital, LP | Reduced | -52.2k |
| D. E. Shaw & Co., Inc. | Sold out | -50.0k |
| DLD Asset Management, LP | Sold out | -36.8k |
| HRT FINANCIAL LP | Sold out | -29.5k |
| TORONTO DOMINION BANK | Reduced | -20.2k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | $7.2m1.3m shares |
| GROUP ONE TRADING LLC | New | $6.8m1.2m shares |
| JANE STREET GROUP, LLC | New | $4.4m780.3k shares |
| CITADEL ADVISORS LLC | New | $4.1m721.6k shares |
| SIMPLEX TRADING, LLC | New | $2.3m402.5k shares |
| Venture Visionary Partners LLC | New | $170.7k30.0k shares |
| Belvedere Trading LLC | New | $99.0k17.4k shares |
| IMC-Chicago, LLC | New | $98.4k17.3k shares |
| Advisory Services Network, LLC | New | $9.1k1.6k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | $2.4m419.6k shares |
| JANE STREET GROUP, LLC | New | $1.7m296.1k shares |
| CITADEL ADVISORS LLC | New | $818.2k143.8k shares |
| SIMPLEX TRADING, LLC | New | $362.5k63.7k shares |
| GROUP ONE TRADING LLC | New | $331.7k58.3k shares |
| IMC-Chicago, LLC | New | $86.5k15.2k 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.
| Holder | Stake |
|---|---|
George Matthew Spencer
13D · may seek influence
new · filed 2026-03-23
Stated purposeBusiness Combination On March 16, 2026 (the "Closing Date"), pursuant to a business combination agreement, dated as of August 13, 2025 (the "Business Combination Agreement"), by and among the Issuer (formerly known as Inflection Point Acquisition Corp. IV), IPDX Merger Sub, Inc., a direct wholly owned subsidiary of the Issuer ("Merger Sub"), and Merlin Labs, Inc. ("Legacy Merlin"), Merger Sub merged with and into Legacy Merlin (the "Merger" and, together with the other transactions contemplated by the Business Combination Agreement, the "Business Combination"), with Legacy Merlin surviving the Merger as a wholly owned subsidiary of the Issuer. The Issuer was renamed on the Closing Date to "Merlin, Inc." As a result of the Business Combination, at the Closing Date, among other transaction… Full filing |
17.7% |
| Quiet Capital Management, LLC 13G · passive investor new · filed 2026-05-08 | 16.2% |
| Inflection Point Fund I, LP 13G · passive investor new · filed 2026-10-13 | 9.9% |
| Alyeska Investment Group, L.P. 13G · institution new · filed 2026-05-15 | 9.9% |
| SnowPoint Ventures, LP 13G · passive investor no change · filed 2026-08-12 | 9.6% |
| Bleichroeder Sponsor 1 LLC 13G · passive investor -2.2 pts · filed 2026-08-14 | 8.2% |
Fell to 5% or below in the last year: FR Capital Holdings, L.P. (1.0%, 2026-09-18), Ayrton Capital LLC (2.1%, 2026-08-13), HIGHBRIDGE CAPITAL MANAGEMENT LLC (0.0%, 2026-05-15), MERUS GLOBAL INVESTMENTS, LLC (0.0%, 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)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2024 | 1 | $4.2m | 0 | — | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 0 | — | 0 | — | — |
| Q1 2026 | 0 | — | 0 | — | — |
| Q2 2026 | 0 | — | 0 | — | — |
| Q3 2026 | 0 | — | 0 | — | — |
None reported since 1 Apr 2026.
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| Alyeska Investment Group, L.P. 0.11% of their portfolio | 7.4m $42.1m | New |
| BAILLIE GIFFORD & CO 0.01% of their portfolio | 2.0m $11.5m | Unchanged |
| UBS Group AG 0.00% of their portfolio | 1.0m $5.9m | Added +761.8k |
| BlackRock, Inc. 0.00% of their portfolio | 711.9k $4.1m | New |
| XTX Topco Ltd 0.03% of their portfolio | 431.9k $2.5m | Added +402.2k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 426.8k $2.4m | Added +376.8k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 391.8k $2.2m | New |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 358.6k $2.0m | New |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 280.8k $1.6m | Added +228.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 224.4k $1.3m | New |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 184.7k $1.1m | New |
| MARSHALL WACE, LLP 0.00% of their portfolio | 176.1k $1.0m | New |
| STATE STREET CORP 0.00% of their portfolio | 165.7k $942.8k | New |
| LPL Financial LLC 0.00% of their portfolio | 161.9k $921.4k | New |
| Marex Group Ltd 0.01% of their portfolio | 131.5k $748.2k | New |
| TUDOR INVESTMENT CORP ET AL 0.00% of their portfolio | 100.0k $569.0k | New |
| ExodusPoint Capital Management, LP 0.00% of their portfolio | 85.6k $486.9k | Reduced -258.3k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 81.6k $464.3k | New |
| HighTower Advisors, LLC 0.00% of their portfolio | 80.8k $459.5k | New |
| Advisory Services Network, LLC 0.01% of their portfolio | 77.6k $441.5k | New |
| NORTHERN TRUST CORP 0.00% of their portfolio | 75.8k $431.4k | New |
| Alberta Investment Management Corp 0.00% of their portfolio | 75.0k $426.8k | Unchanged |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 74.6k $424.3k | New |
| Venture Visionary Partners LLC 0.01% of their portfolio | 74.0k $420.9k | New |
| Diametric Capital, LP 0.04% of their portfolio | 72.5k $412.3k | Reduced -52.2k |
| GROUP ONE TRADING LLC 0.01% of their portfolio | 66.7k $379.6k | New |
| Jefferies Financial Group Inc. 0.00% of their portfolio | 50.0k $284.5k | New |
| LMR Partners LLP 0.00% of their portfolio | 47.5k $270.3k | New |
| AVIVA PLC 0.00% of their portfolio | 45.4k $258.4k | New |
| Squarepoint Ops LLC 0.00% of their portfolio | 40.3k $229.5k | New |
| Alpine Global Management, LLC 0.03% of their portfolio | 35.0k $199.2k | New |
| DNB Asset Management AS 0.00% of their portfolio | 33.5k $190.5k | New |
| Board of Trustees of The Leland Stanford Junior University 0.03% of their portfolio | 32.7k $185.9k | Unchanged |
| COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio | 30.7k $174.8k | New |
| Parkwood LLC 0.01% of their portfolio | 29.7k $169.0k | New |
| Engineers Gate Manager LP 0.00% of their portfolio | 29.1k $165.6k | New |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 28.6k $163.0k | New |
| CPWA, LLC 0.19% of their portfolio | 28.1k $159.9k | New |
| TOCQUEVILLE ASSET MANAGEMENT L.P. 0.00% of their portfolio | 26.0k $147.9k | New |
| Balentine LLC 0.01% of their portfolio | 25.0k $142.2k | New |
| State of Tennessee, Department of Treasury 0.00% of their portfolio | 20.6k $117.3k | New |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 20.1k $114.0k | Added +20.0k |
| K2 PRINCIPAL FUND, L.P. 0.01% of their portfolio | 20.0k $113.8k | New |
| MORGAN STANLEY 0.00% of their portfolio | 18.6k $105.7k | Added +12.9k |
| Magnetar Financial LLC 0.00% of their portfolio | 18.0k $102.4k | Reduced -12.7k |
| Pale Fire Capital SE 0.01% of their portfolio | 16.0k $91.0k | New |
| Vanguard Global Advisers, LLC 0.00% of their portfolio | 14.7k $83.6k | New |
| TORONTO DOMINION BANK 0.00% of their portfolio | 12.5k $71.1k | Reduced -20.2k |
| Voleon Capital Management LP 0.00% of their portfolio | 11.2k $63.9k | New |
| BARCLAYS PLC 0.00% of their portfolio | 10.4k $59.1k | New |
| Crewe Advisors LLC 0.00% of their portfolio | 10.0k $56.9k | New |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 4.2k $23.7k | Added +2.0k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 2.9k $14.2k | New |
| Persistent Asset Partners Ltd 0.00% of their portfolio | 2.5k $14.1k | New |
| Tower Research Capital LLC (TRC) 0.00% of their portfolio | 1.1k $6.4k | New |
| Rockefeller Capital Management L.P. 0.00% of their portfolio | 600 $3.4k | Unchanged |
| SIMPLEX TRADING, LLC 0.00% of their portfolio | 527 $3.0k | New |
| Hurley Capital, LLC 0.00% of their portfolio | 454 $2.6k | Unchanged |
| Archer Investment Corp 0.00% of their portfolio | 240 $1.4k | Added +120 |
| Allworth Financial LP 0.00% of their portfolio | 90 $513 | Reduced -1.0k |
| Federation des caisses Desjardins du Quebec 0.00% of their portfolio | 58 $330 | New |
| Friedenthal Financial 0.00% of their portfolio | 1 $6 | New |