Vault-13

BTC DEV CORP BDCI

ORD SHS CL A · Common Stock · CUSIP G0701G109

52 institutional holders +2 vs Q1 2026
22,001,66722.0m shares reported held*
$221.5mreported value*
5 new 7 added 8 reduced 3 sold out net bought ≈ $21.7m (+2.2m 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 ≈ $10.07.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0204060Q4 25: 52Q1 26: 50Q2 26: 5252Q4 25Q1 26Q2 26
Numbers
QuarterHolders
Q4 202552
Q1 202650
Q2 202652

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q1 26: 15 bought or addedQ1 26: 20 cut or sold outQ1 26Q2 26: 12 bought or addedQ2 26: 11 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q1 20261520
Q2 20261211

Biggest buyers

Meteora Capital, LLC New +1,959,175+2.0m
WOLVERINE ASSET MANAGEMENT LLC Added +801,008+801.0k
D. E. Shaw & Co., Inc. New +700,000+700.0k
MIZUHO SECURITIES USA LLC Added +150,000+150.0k
StoneX Group Inc. New +107,233+107.2k
Arax Advisory Partners New +58,348+58.3k
CSS LLC/IL Added +29,458+29.5k
Schonfeld Strategic Advisors LLC Added +25,699+25.7k
AQR Arbitrage LLC Added +16,616+16.6k
Radcliffe Capital Management, L.P. Added +2,042+2.0k

Biggest sellers

HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Sold out -750,000-750.0k
Saba Capital Management, L.P. Sold out -405,127-405.1k
TORONTO DOMINION BANK Reduced -259,315-259.3k
Shaolin Capital Management LLC Reduced -139,634-139.6k
Virtu Financial LLC Reduced -54,391-54.4k
Clear Street Group Inc. Reduced -50,862-50.9k
BOOTHBAY FUND MANAGEMENT, LLC Sold out -34,988-35.0k
Bulldog Investors, LLP Reduced -1,220-1.2k
MARSHALL WACE, LLP Reduced -807-807
RIVERNORTH CAPITAL MANAGEMENT, LLC Reduced -194-194

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
BTC Development Sponsor LLC 13D · may seek influence new · filed 2025-10-06
Stated purposeUpon our incorporation, Sponsor paid certain offering costs totaling $25,000 and subsequently received 8,686,667 founder shares in exchange. On September 5, 2025, Sponsor transferred to BTC Development Advisors LLC 4,095,833 Class B Shares. Simultaneously with the consummation of the IPO, Sponsor purchased 512,500 units ("Placement Units") of the Issuer at $10.00 per Placement Unit, pursuant to a Private Placement Warrants Unit Subscription Agreement dated September 29, 2025, by and between the Issuer and Sponsor (the "Subscription Agreement"), as more fully described in Item 6 of this Schedule 13D, which information is incorporated herein by reference. Each Placement Unit consists of one Class A Share and one-fourth (1/4) of a redeemable warrant, each whole warrant exercisable to purc… Full filing
14.7% new 5.1m≈ $51.4m 2025-10-06
BTC Development Advisors LLC 13D · may seek influence new · filed 2025-10-06
Stated purposeUpon our incorporation, the Sponsor paid certain offering costs totaling $25,000 and subsequently received 8,686,667 founder shares in exchange. On September 5, 2025, Sponsor transferred to Advisors 4,095,833 Class B Shares. The ordinary shares owned by the Reporting Persons have been acquired for investment purposes. The Reporting Persons may make further acquisitions of the Issuer's securities from time to time, however, all of such shares are subject to lock-up restrictions as further described in Item 6 below. Except for the foregoing, the Reporting Persons have no plans or proposals which relate to, or could result in, any of the matters referred to in paragraphs (a) and (c) through (j) of Item 4 of Schedule 13D. With respect to paragraph (b) of Item 4, the Issuer is a bla… Full filing
11.8% new 4.1m≈ $41.2m 2025-10-06
RP Investment Advisors LP 13G · passive investor +1.3 pts · filed 2026-08-10 9.5% +1.3 pts 739.9k≈ $7.5m 2026-08-10
METEORA CAPITAL, LLC 13G · institution no change · filed 2026-08-14 7.5% no change 2.0m≈ $19.7m 2026-08-14
WOLVERINE ASSET MANAGEMENT LLC 13G · institution new · filed 2026-10-07 5.8% new 1.5m≈ $15.1m 2026-10-07

Fell to 5% or below in the last year: TD SECURITIES (USA) LLC (4.6%, 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.

None reported since 1 Apr 2026.

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Meteora Capital, LLC 1.64% of their portfolio Boca Raton, FL 1,959,1752.0m $19.7m $19.7m 1.64% New
2 GLAZER CAPITAL, LLC 0.29% of their portfolio New York, NY 1,163,2481.2m $11.7m $11.7m 0.29% Unchanged
3 WOLVERINE ASSET MANAGEMENT LLC 0.15% of their portfolio CHICAGO, IL 1,143,9851.1m $11.5m $11.5m 0.15% Added +801.0k +801,008
4 TORONTO DOMINION BANK 0.02% of their portfolio TORONTO, ONTARIO, A6 1,135,6851.1m $11.4m $11.4m 0.02% Reduced -259.3k -259,315
5 Linden Advisors LP 0.06% of their portfolio New York, NY 1,125,0001.1m $11.3m $11.3m 0.06% Unchanged
6 TENOR CAPITAL MANAGEMENT Co., L.P. 0.16% of their portfolio NEW YORK, NY 1,125,0001.1m $11.3m $11.3m 0.16% Unchanged
7 LMR Partners LLP 0.08% of their portfolio LONDON, X0 1,025,0001.0m $10.3m $10.3m 0.08% Unchanged
8 ADAGE CAPITAL PARTNERS GP, L.L.C. 0.01% of their portfolio Boston, MA 1,000,0001.0m $10.1m $10.1m 0.01% Unchanged
9 AQR Arbitrage LLC 0.13% of their portfolio Greenwich, CT 878,674878.7k $8.8m $8.8m 0.13% Added +16.6k +16,616
10 Verition Fund Management LLC 0.06% of their portfolio GREENWICH, CT 840,159840.2k $8.5m $8.5m 0.06% Unchanged
11 Magnetar Financial LLC 0.07% of their portfolio EVANSTON, IL 750,000750.0k $7.5m $7.5m 0.07% Unchanged
12 First Trust Capital Management L.P. 0.43% of their portfolio CHICAGO, IL 738,849738.8k $7.4m $7.4m 0.43% Unchanged
13 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 700,000700.0k $7.0m $7.0m 0.00% New
14 Radcliffe Capital Management, L.P. 0.50% of their portfolio BALA CYNWYD, PA 653,362653.4k $6.6m $6.6m 0.50% Added +2.0k +2,042
15 Alberta Investment Management Corp 0.03% of their portfolio EDMONTON, A0 525,000525.0k $5.3m $5.3m 0.03% Unchanged
16 Periscope Capital Inc. 0.72% of their portfolio Toronto, A6 450,000450.0k $4.5m $4.5m 0.72% Unchanged
17 ARISTEIA CAPITAL, L.L.C. 0.06% of their portfolio GREENWICH, CT 400,000400.0k $4.0m $4.0m 0.06% Unchanged
18 Hudson Bay Capital Management LP 0.02% of their portfolio STAMFORD, CT 400,000400.0k $4.0m $4.0m 0.02% Unchanged
19 MOORE CAPITAL MANAGEMENT, LP 0.09% of their portfolio NEW YORK, NY 400,000400.0k $4.0m $4.0m 0.09% Unchanged
20 TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio NEW YORK, NY 396,439396.4k $4.0m $4.0m 0.00% Unchanged
21 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 393,800393.8k $4.0m $4.0m 0.00% Unchanged
22 Context Capital Management, LLC 0.07% of their portfolio LAJOLLA, CA 350,000350.0k $3.5m $3.5m 0.07% Unchanged
23 Centiva Capital, LP 0.11% of their portfolio New York, NY 313,508313.5k $3.2m $3.2m 0.11% Unchanged
24 Wealthspring Capital LLC 0.70% of their portfolio WEST HARRISON, NY 312,752312.8k $3.1m $3.1m 0.70% Unchanged
25 Shaolin Capital Management LLC 0.18% of their portfolio Miami, FL 310,366310.4k $3.1m $3.1m 0.18% Reduced -139.6k -139,634
26 HIGHBRIDGE CAPITAL MANAGEMENT LLC 0.10% of their portfolio NEW YORK, NY 300,403300.4k $3.0m $3.0m 0.10% Added +403 +403
27 MIZUHO SECURITIES USA LLC 0.03% of their portfolio NEW YORK, NY 300,000300.0k $3.0m $3.0m 0.03% Added +150.0k +150,000
28 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 269,320269.3k $2.7m $2.7m 0.00% Unchanged
29 SONA ASSET MANAGEMENT (US) LLC 0.10% of their portfolio NEW YORK, NY 262,494262.5k $2.6m $2.6m 0.10% Unchanged
30 BERKLEY W R CORP 0.13% of their portfolio Greenwich, CT 260,103260.1k $2.6m $2.6m 0.13% Unchanged
31 CSS LLC/IL 0.10% of their portfolio CHICAGO, IL 232,617232.6k $2.3m $2.3m 0.10% Added +29.5k +29,458
32 Governors Lane LP 0.20% of their portfolio NEW YORK, NY 200,000200.0k $2.0m $2.0m 0.20% Unchanged
33 Mint Tower Capital Management B.V. 0.24% of their portfolio AMSTERDAM, P7 200,000200.0k $2.0m $2.0m 0.24% Unchanged
34 Lineage Point Capital LP 0.41% of their portfolio PALM BEACH, FL 200,000200.0k $2.0m $2.0m 0.41% Unchanged
35 RIVERNORTH CAPITAL MANAGEMENT, LLC 0.10% of their portfolio WEST PALM BEACH, FL 199,562199.6k $2.0m $2.0m 0.10% Reduced -194 -194
36 Polar Asset Management Partners Inc. 0.03% of their portfolio TORONTO, A6 175,000175.0k $1.8m $1.8m 0.03% Unchanged
37 Schonfeld Strategic Advisors LLC 0.01% of their portfolio NEW YORK, NY 117,900117.9k $1.2m $1.2m 0.01% Added +25.7k +25,699
38 DLD Asset Management, LP 0.09% of their portfolio NEW YORK, NY 108,100108.1k $1.1m $1.1m 0.09% Unchanged
39 StoneX Group Inc. 0.04% of their portfolio NEW YORK, NY 107,233107.2k $1.1m $1.1m 0.04% New
40 WHITEBOX ADVISORS LLC 0.02% of their portfolio MINNEAPOLIS, MN 100,000100.0k $1.0m $1.0m 0.02% Unchanged
41 O'Connor Alternative Investments LLC 0.07% of their portfolio NEW YORK, NY 100,000100.0k $1.0m $1.0m 0.07% Unchanged
42 Clear Street Group Inc. 0.00% of their portfolio NEW YORK, NY 94,82094.8k $954.8k $954.8k 0.00% Reduced -50.9k -50,862
43 Bulldog Investors, LLP 0.15% of their portfolio SADDLE BROOK, NJ 65,84065.8k $663.0k $663.0k 0.15% Reduced -1.2k -1,220
44 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 59,15559.2k $595.1k $595.1k 0.00% Reduced -807 -807
45 Arax Advisory Partners 0.00% of their portfolio NEW YORK, NY 58,34858.3k $587.6k $587.6k 0.00% New
46 Virtu Financial LLC 0.01% of their portfolio New York, NY 29,95530.0k $301.0k $301.0k 0.01% Reduced -54.4k -54,391
47 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 27,87127.9k $280.4k $280.4k 0.00% Unchanged
48 PICTON MAHONEY ASSET MANAGEMENT 0.00% of their portfolio Toronto, A6 20,00020.0k $201.4k $201.4k 0.00% Unchanged
49 ABC ARBITRAGE SA 0.02% of their portfolio PARIS, I0 20,00020.0k $201.4k $201.4k 0.02% Unchanged
50 Kepos Capital LP 0.04% of their portfolio NEW YORK, NY 2,9002.9k $29.0k $29.0k 0.04% Unchanged
51 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 4343 $433 $433 0.00% Reduced -24 -24
52 UBS Group AG 0.00% of their portfolio ZURICH, V8 11 $10 $10 0.00% New