Vault-13

PONO CAP TWO INC SBCWW

*W EXP 07/31/202 · Equity WRT · CUSIP 73245B115

17 institutional holders -2 vs Q1 2026
4,161,3774.2m shares reported held*
$1.5mreported value*
0 new 2 added 2 reduced 2 sold out net sold ≈ $27.6k (-121.1k 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 ≈ $0.36. Options: 1 managers hold calls ($5.5k notional), 0 hold puts (—).

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

02040Q3 22: 12Q4 22: 29Q1 23: 31Q2 23: 31Q3 23: 32Q4 23: 32Q1 24: 30Q2 24: 30Q3 24: 28Q4 24: 23Q1 25: 22Q2 25: 19Q3 25: 17Q4 25: 17Q1 26: 19Q2 26: 1717Q3 22Q3 23Q3 24Q3 25Q2 26
Numbers
QuarterHolders
Q3 202212
Q4 202229
Q1 202331
Q2 202331
Q3 202332
Q4 202332
Q1 202430
Q2 202430
Q3 202428
Q4 202423
Q1 202522
Q2 202519
Q3 202517
Q4 202517
Q1 202619
Q2 202617

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q3 24: 7 bought or addedQ3 24: 13 cut or sold outQ4 24: 3 bought or addedQ4 24: 17 cut or sold outQ4 24Q1 25: 3 bought or addedQ1 25: 9 cut or sold outQ2 25: 2 bought or addedQ2 25: 8 cut or sold outQ2 25Q3 25: 2 bought or addedQ3 25: 4 cut or sold outQ4 25: 3 bought or addedQ4 25: 3 cut or sold outQ4 25Q1 26: 4 bought or addedQ1 26: 7 cut or sold outQ2 26: 2 bought or addedQ2 26: 4 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 2024713
Q4 2024317
Q1 202539
Q2 202528
Q3 202524
Q4 202533
Q1 202647
Q2 202624

Calls vs puts

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

CallsPuts
$0$2k$4k$6k$8kQ3 25 calls: $5.0kQ3 25 puts: $0Q3 25P/C 0.00Q4 25 calls: $4.9kQ4 25 puts: $0Q4 25P/C 0.00Q1 26 calls: $6.6kQ1 26 puts: $0Q1 26P/C 0.00Q2 26 calls: $5.5kQ2 26 puts: $0Q2 26P/C 0.00
Numbers
QuarterCallsPutsP/C
Q3 2025$5.0k$00.00
Q4 2025$4.9k$00.00
Q1 2026$6.6k$00.00
Q2 2026$5.5k$00.00

Biggest buyers

Biggest sellers

Ionic Capital Management LLC Sold out -100,000-100.0k
Shaolin Capital Management LLC Sold out -50,000-50.0k
BOOTHBAY FUND MANAGEMENT, LLC Reduced -1,700-1.7k
Polar Asset Management Partners Inc. Reduced -950-950

Biggest calls

MILLENNIUM MANAGEMENT LLC Unchanged $5.5k24.0k 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.

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
101Q4 24: 0 buyingQ4 24: 0 sellingQ1 25: 0 buyingQ1 25: 0 sellingQ1 25Q2 25: 0 buyingQ2 25: 0 sellingQ3 25: 0 buyingQ3 25: 0 sellingQ3 25Q4 25: 0 buyingQ4 25: 0 sellingQ1 26: 0 buyingQ1 26: 1 sellingQ1 26Q2 26: 0 buyingQ2 26: 1 sellingQ3 26: 0 buyingQ3 26: 0 sellingQ3 26
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q4 20240—0——
Q1 20250—0——
Q2 20250—0——
Q3 20250—0——
Q4 20250—0——
Q1 20260—1$9.4m—
Q2 20260—1$10.8m—
Q3 20260—0——
DateInsiderTradeSharesPrice ValueTheir holding
2026-04-28 Aikawa Yoshiyuki Chairman and CEO, director Sold 465,000 $3.02 $1.4m465.0k shares -1%
2026-04-21 Aikawa Yoshiyuki Chairman and CEO, director Sold 3,100,000 $3.02 $9.4m3.1m shares -4%

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 Decagon Asset Management LLP 0.04% of their portfolio LONDON, X0 944,992945.0k $217.3k $217.3k 0.04% Unchanged
2 ARISTEIA CAPITAL, L.L.C. 0.00% of their portfolio GREENWICH, CT 530,169530.2k $135.2k $135.2k 0.00% Unchanged
3 Polar Asset Management Partners Inc. 0.00% of their portfolio TORONTO, A6 434,750434.8k $110.9k $110.9k 0.00% Reduced -950 -950
4 MMCAP International Inc. SPC 0.01% of their portfolio GRAND CAYMAN, E9 330,000330.0k $75.9k $75.9k 0.01% Unchanged
5 Weiss Asset Management LP 0.00% of their portfolio BOSTON, MA 229,192229.2k $58.4k $58.4k 0.00% Unchanged
6 Context Capital Management, LLC 0.00% of their portfolio LAJOLLA, CA 208,389208.4k $47.9k $47.9k 0.00% Unchanged
7 Yakira Capital Management, Inc. 0.01% of their portfolio Westport, CT 207,025207.0k $47.6k $47.6k 0.01% Unchanged
8 Saba Capital Management, L.P. 0.00% of their portfolio NEW YORK, NY 200,000200.0k $51.0k $51.0k 0.00% Unchanged
9 Clear Street Group Inc. 0.00% of their portfolio NEW YORK, NY 199,865199.9k $46.0k $46.0k 0.00% Unchanged
10 Cable Car Capital, LP 0.00% of their portfolio SAN FRANCISCO, CA 196,000196.0k $50.0k $50.0k 0.00% Unchanged
11 BOOTHBAY FUND MANAGEMENT, LLC 0.01% of their portfolio NEW YORK, NY 178,929178.9k $551.1k $551.1k 0.01% Reduced -1.7k -1,700
12 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 172,500172.5k $39.7k $39.7k 0.00% Unchanged
13 Caption Management, LLC 0.00% of their portfolio OKLAHOMA CITY, OK 150,000150.0k $34.5k $34.5k 0.00% Unchanged
14 WOLVERINE ASSET MANAGEMENT LLC 0.00% of their portfolio CHICAGO, IL 55,87255.9k $12.9k $12.9k 0.00% Added +21.9k +21,882
15 TORONTO DOMINION BANK 0.00% of their portfolio TORONTO, ONTARIO, A6 50,80050.8k $11.7k $11.7k 0.00% Unchanged
16 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 37,89437.9k $8.7k $8.7k 0.00% Added +9.6k +9,624
17 WHITEBOX ADVISORS LLC 0.00% of their portfolio MINNEAPOLIS, MN 35,00035.0k $8.1k $8.1k 0.00% Unchanged