Vault-13

SPECTRAL AI INC MDAIW

*W EXP 99/99/999 · Equity WRT · CUSIP 84757T113

18 institutional holders +0 vs Q1 2026
2,117,9642.1m shares reported held*
$1.3mreported value*
1 new 1 added 1 reduced 1 sold out net bought ≈ $80.4k (+144.8k 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 ≈ $0.61. Options: 1 managers hold calls ($21.8k notional), 0 hold puts (—).

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0102030Q3 23: 30Q4 23: 25Q1 24: 22Q2 24: 21Q3 24: 18Q4 24: 20Q1 25: 21Q2 25: 19Q3 25: 19Q4 25: 21Q1 26: 18Q2 26: 1818Q3 23Q2 24Q1 25Q4 25Q2 26
Numbers
QuarterHolders
Q3 202330
Q4 202325
Q1 202422
Q2 202421
Q3 202418
Q4 202420
Q1 202521
Q2 202519
Q3 202519
Q4 202521
Q1 202618
Q2 202618

Buyers vs sellers

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

Bought or addedCut or sold out
10010Q3 24: 2 bought or addedQ3 24: 3 cut or sold outQ4 24: 6 bought or addedQ4 24: 6 cut or sold outQ4 24Q1 25: 4 bought or addedQ1 25: 3 cut or sold outQ2 25: 4 bought or addedQ2 25: 6 cut or sold outQ2 25Q3 25: 4 bought or addedQ3 25: 3 cut or sold outQ4 25: 6 bought or addedQ4 25: 5 cut or sold outQ4 25Q1 26: 1 bought or addedQ1 26: 4 cut or sold outQ2 26: 2 bought or addedQ2 26: 2 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 202423
Q4 202466
Q1 202543
Q2 202546
Q3 202543
Q4 202565
Q1 202614
Q2 202622

Calls vs puts

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

CallsPuts
$0$50k$100k$150kQ3 25 calls: $112.3kQ3 25 puts: $0Q3 25P/C 0.00Q4 25 calls: $72.0kQ4 25 puts: $0Q4 25P/C 0.00Q1 26 calls: $47.6kQ1 26 puts: $0Q1 26P/C 0.00Q2 26 calls: $21.8kQ2 26 puts: $0Q2 26P/C 0.00
Numbers
QuarterCallsPutsP/C
Q3 2025$112.3k$00.00
Q4 2025$72.0k$00.00
Q1 2026$47.6k$00.00
Q2 2026$21.8k$00.00

Biggest buyers

LMR Partners LLP Added +196,185+196.2k
HRT FINANCIAL LP New +12,147+12.1k

Biggest sellers

Clear Street Group Inc. Reduced -51,848-51.8k
FOURSIXTHREE CAPITAL LP Sold out -11,666-11.7k

Biggest calls

MILLENNIUM MANAGEMENT LLC Unchanged $21.8k39.3k 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.

None reported since 1 Apr 2026.

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 LMR Partners LLP 0.00% of their portfolio LONDON, X0 503,694503.7k $279.6k $279.6k 0.00% Added +196.2k +196,185
2 ARISTEIA CAPITAL, L.L.C. 0.00% of their portfolio GREENWICH, CT 359,943359.9k $199.8k $199.8k 0.00% Unchanged
3 Clear Street Group Inc. 0.00% of their portfolio NEW YORK, NY 233,357233.4k $129.5k $129.5k 0.00% Reduced -51.8k -51,848
4 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 123,629123.6k $68.6k $68.6k 0.00% Unchanged
5 TORONTO DOMINION BANK 0.00% of their portfolio TORONTO, ONTARIO, A6 117,931117.9k $65.5k $65.5k 0.00% Unchanged
6 Oasis Management Co Ltd. 0.02% of their portfolio GRAND CAYMAN, E9 100,000100.0k $173.0k $173.0k 0.02% Unchanged
7 MOORE CAPITAL MANAGEMENT, LP 0.00% of their portfolio NEW YORK, NY 100,000100.0k $55.5k $55.5k 0.00% Unchanged
8 Q Global Advisors, LLC 0.04% of their portfolio FORT WORTH, TX 99,67099.7k $55.0k $55.0k 0.04% Unchanged
9 Caption Management, LLC 0.00% of their portfolio OKLAHOMA CITY, OK 83,53783.5k $46.4k $46.4k 0.00% Unchanged
10 Calamos Advisors LLC 0.00% of their portfolio NAPERVILLE, IL 81,52681.5k $48.1k $48.1k 0.00% Unchanged
11 TPG GP A, LLC 0.00% of their portfolio FORT WORTH, TX 74,99975.0k $41.6k $41.6k 0.00% Unchanged
12 TENOR CAPITAL MANAGEMENT Co., L.P. 0.00% of their portfolio NEW YORK, NY 66,66666.7k $37.0k $37.0k 0.00% Unchanged
13 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.00% of their portfolio TORONTO, A6 66,66666.7k $39.3k $39.3k 0.00% Unchanged
14 Saba Capital Management, L.P. 0.00% of their portfolio NEW YORK, NY 59,76359.8k $33.2k $33.2k 0.00% Unchanged
15 Empery Asset Management, LP 0.02% of their portfolio NEW YORK, NY 33,33633.3k $18.5k $18.5k 0.02% Unchanged
16 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 12,14712.1k $7.0k $7.0k 0.00% New
17 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 1,0001.0k $555 $555 0.00% Unchanged
18 LONGFELLOW INVESTMENT MANAGEMENT CO LLC 0.00% of their portfolio BOSTON, MA 100100 $56 $56 0.00% Unchanged