Vault-13

NET POWER INC NPWR.WS

*W EXP 06/08/202 · Equity WRT · CUSIP 64107A113

22 institutional holders -3 vs Q1 2026
10,515,31310.5m shares reported held*
$3.2mreported value*
0 new 2 added 6 reduced 3 sold out net sold ≈ $493.7k (-1.7m 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. Implied quarter-end price ≈ $0.30. Options: 1 managers hold calls ($63.4k notional), 0 hold puts (—).

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

02040Q2 23: 34Q3 23: 29Q4 23: 30Q1 24: 28Q2 24: 28Q3 24: 26Q4 24: 25Q1 25: 26Q2 25: 25Q3 25: 24Q4 25: 24Q1 26: 25Q2 26: 2222Q2 23Q1 24Q4 24Q3 25Q2 26
Numbers
QuarterHolders
Q2 202334
Q3 202329
Q4 202330
Q1 202428
Q2 202428
Q3 202426
Q4 202425
Q1 202526
Q2 202525
Q3 202524
Q4 202524
Q1 202625
Q2 202622

Buyers vs sellers

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

Bought or addedCut or sold out
10010Q3 24: 3 bought or addedQ3 24: 9 cut or sold outQ4 24: 7 bought or addedQ4 24: 9 cut or sold outQ4 24Q1 25: 10 bought or addedQ1 25: 5 cut or sold outQ2 25: 7 bought or addedQ2 25: 7 cut or sold outQ2 25Q3 25: 4 bought or addedQ3 25: 7 cut or sold outQ4 25: 5 bought or addedQ4 25: 7 cut or sold outQ4 25Q1 26: 6 bought or addedQ1 26: 3 cut or sold outQ2 26: 2 bought or addedQ2 26: 9 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 202439
Q4 202479
Q1 2025105
Q2 202577
Q3 202547
Q4 202557
Q1 202663
Q2 202629

Calls vs puts

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

CallsPuts
$0$50k$100k$150k$200kQ3 25 calls: $164.0kQ3 25 puts: $0Q3 25P/C 0.00Q4 25 calls: $109.3kQ4 25 puts: $0Q4 25P/C 0.00Q1 26 calls: $59.0kQ1 26 puts: $0Q1 26P/C 0.00Q2 26 calls: $63.4kQ2 26 puts: $0Q2 26P/C 0.00
Numbers
QuarterCallsPutsP/C
Q3 2025$164.0k$00.00
Q4 2025$109.3k$00.00
Q1 2026$59.0k$00.00
Q2 2026$63.4k$00.00

Biggest buyers

WOLVERINE ASSET MANAGEMENT LLC Added +43,973+44.0k
LMR Partners LLP Added +13,400+13.4k

Biggest sellers

ZAZOVE ASSOCIATES LLC Reduced -1,543,532-1.5m
Ionic Capital Management LLC Reduced -140,167-140.2k
BLUEFIN CAPITAL MANAGEMENT, LLC Sold out -26,537-26.5k
Hunting Hill Global Capital, LLC Sold out -16,583-16.6k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Sold out -11,795-11.8k
COHEN & STEERS, INC. Reduced -10,772-10.8k
UBS Group AG Reduced -8,835-8.8k
KENSICO CAPITAL MANAGEMENT CORP Reduced -1,400-1.4k
TORONTO DOMINION BANK Reduced -100-100

Biggest calls

MILLENNIUM MANAGEMENT LLC Unchanged $63.4k218.7k shares

Biggest puts

None

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.

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Share Andrew L. 0.80% of their portfolio MANCHESTER, NH 5,342,5475.3m $1.5m $1.5m 0.80% Unchanged
2 LMR Partners LLP 0.00% of their portfolio LONDON, X0 1,705,1161.7m $494.5k $494.5k 0.00% Added +13.4k +13,400
3 ZAZOVE ASSOCIATES LLC 0.04% of their portfolio INCLINE VILLAGE, NV 1,533,6921.5m $475.4k $475.4k 0.04% Reduced -1.5m -1,543,532
4 KENSICO CAPITAL MANAGEMENT CORP 0.00% of their portfolio GREENWICH, CT 453,800453.8k $131.6k $131.6k 0.00% Reduced -1.4k -1,400
5 TORONTO DOMINION BANK 0.00% of their portfolio TORONTO, ONTARIO, A6 278,099278.1k $80.6k $80.6k 0.00% Reduced -100 -100
6 COHEN & STEERS, INC. 0.00% of their portfolio NEW YORK, NY 182,834182.8k $53.0k $53.0k 0.00% Reduced -10.8k -10,772
7 Saba Capital Management, L.P. 0.00% of their portfolio NEW YORK, NY 180,984181.0k $56.1k $56.1k 0.00% Unchanged
8 WOLVERINE ASSET MANAGEMENT LLC 0.00% of their portfolio CHICAGO, IL 168,890168.9k $49.0k $49.0k 0.00% Added +44.0k +43,973
9 Caption Management, LLC 0.00% of their portfolio OKLAHOMA CITY, OK 114,375114.4k $33.2k $33.2k 0.00% Unchanged
10 ARISTEIA CAPITAL, L.L.C. 0.00% of their portfolio GREENWICH, CT 111,888111.9k $34.7k $34.7k 0.00% Unchanged
11 Arosa Capital Management LP 0.03% of their portfolio MIAMI BEACH, FL 106,249106.2k $30.8k $30.8k 0.03% Unchanged
12 MOORE CAPITAL MANAGEMENT, LP 0.00% of their portfolio NEW YORK, NY 100,000100.0k $29.0k $29.0k 0.00% Unchanged
13 BOOTHBAY FUND MANAGEMENT, LLC 0.00% of their portfolio NEW YORK, NY 77,37077.4k $129.2k $129.2k 0.00% Unchanged
14 K2 PRINCIPAL FUND, L.P. 0.00% of their portfolio TORONTO, A6 46,18146.2k $13.4k $13.4k 0.00% Unchanged
15 Thomas J. Herzfeld Advisors, Inc. 0.00% of their portfolio MIAMI BEACH, FL 32,77132.8k $9.5k $9.5k 0.00% Unchanged
16 Ionic Capital Management LLC 0.01% of their portfolio NEW YORK, NY 29,03629.0k $8.4k $8.4k 0.01% Reduced -140.2k -140,167
17 Teilinger Capital Ltd. 0.00% of their portfolio HOUSTON, TX 25,00025.0k $7.2k $7.2k 0.00% Unchanged
18 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 15,03215.0k $4.4k $4.4k 0.00% Unchanged
19 Dynamic Advisor Solutions LLC 0.00% of their portfolio PHOENIX, AZ 10,40010.4k $3.0k $3.0k 0.00% Unchanged
20 UBS Group AG 0.00% of their portfolio ZURICH, V8 474474 $137 $137 0.00% Reduced -8.8k -8,835
21 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 375375 $109 $109 0.00% Unchanged
22 Clear Street Group Inc. 0.00% of their portfolio NEW YORK, NY 200200 $58 $58 0.00% Unchanged