BLACK HAWK ACQUISITION CORP BKHA
USD CL A SHS · Common Stock · CUSIP G1148A101
- SectorHealth care
- IndustryBiological Products, (No Diagnostic Substances)
- HeadquartersDanville, CA
- 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. Shares outstanding: 4.2m as of 2026-07-15, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $11.84.
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q2 2024 | 25 |
| Q3 2024 | 33 |
| Q4 2024 | 30 |
| Q1 2025 | 31 |
| Q2 2025 | 29 |
| Q3 2025 | 22 |
| Q4 2025 | 20 |
| Q1 2026 | 24 |
| Q2 2026 | 22 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 15 | 4 |
| Q4 2024 | 7 | 11 |
| Q1 2025 | 6 | 7 |
| Q2 2025 | 7 | 8 |
| Q3 2025 | 6 | 17 |
| Q4 2025 | 6 | 4 |
| Q1 2026 | 5 | 4 |
| Q2 2026 | 5 | 7 |
Biggest buyers
| MIZUHO SECURITIES USA LLC | Added | +373.8k |
| Logan Stone Capital, LLC | New | +13.4k |
| Clear Street Group Inc. | Added | +6.8k |
| BERKLEY W R CORP | Added | +5.7k |
| AQR Arbitrage LLC | Added | +903 |
Biggest sellers
| Meteora Capital, LLC | Reduced | -25.0k |
| WOLVERINE ASSET MANAGEMENT LLC | Reduced | -9.6k |
| Warberg Asset Management LLC | Reduced | -400 |
| TORONTO DOMINION BANK | Sold out | -201 |
| UBS Group AG | Reduced | -16 |
| MORGAN STANLEY | Reduced | -3 |
| Legacy Wealth Managment, LLC/ID | Sold out | -2 |
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 |
|---|---|
| MIZUHO FINANCIAL GROUP INC 13G · institution -0.2 pts · filed 2025-08-13 | 8.4% |
| BERKLEY W R CORP 13G · institution +2.2 pts · filed 2025-11-10 | 7.4% |
| PROPPER KERRY 13G · institution filed 2025-11-13 | 5.8% |
| WOLVERINE ASSET MANAGEMENT LLC 13G · institution -3.6 pts · filed 2026-10-07 | 5.1% |
Fell to 5% or below in the last year: First Trust Capital Management L.P. (0.0%, 2025-11-14), AQR CAPITAL MANAGEMENT LLC (3.4%, 2025-11-12)
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
| Manager | Shares | Change |
|---|---|---|
| MIZUHO SECURITIES USA LLC 0.08% of their portfolio | 747.6k $8.6m | Added +373.8k |
| WOLVERINE ASSET MANAGEMENT LLC 0.05% of their portfolio | 331.2k $3.9m | Reduced -9.6k |
| BERKLEY W R CORP 0.19% of their portfolio | 314.8k $3.9m | Added +5.7k |
| AQR Arbitrage LLC 0.02% of their portfolio | 133.1k $1.6m | Added +903 |
| BOOTHBAY FUND MANAGEMENT, LLC 0.03% of their portfolio | 120.0k $1.4m | Unchanged |
| Westchester Capital Management, LLC 0.06% of their portfolio | 102.0k $1.2m | Unchanged |
| Yakira Capital Management, Inc. 0.31% of their portfolio | 88.7k $1.1m | Unchanged |
| Clear Street Group Inc. 0.00% of their portfolio | 81.5k $970.4k | Added +6.8k |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 75.0k $882.8k | Unchanged |
| Warberg Asset Management LLC 0.25% of their portfolio | 71.9k $856.6k | Reduced -400 |
| Meteora Capital, LLC 0.07% of their portfolio | 64.0k $831.2k | Reduced -25.0k |
| Crossingbridge Advisors, LLC 0.11% of their portfolio | 53.0k $631.5k | Unchanged |
| Polar Asset Management Partners Inc. 0.01% of their portfolio | 39.1k $483.1k | Unchanged |
| RLH Capital LLC 0.17% of their portfolio | 29.4k $351.8k | Unchanged |
| Calamos Advisors LLC 0.00% of their portfolio | 24.6k $289.4k | Unchanged |
| Logan Stone Capital, LLC 0.03% of their portfolio | 13.4k $165.4k | New |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 10.6k $124.6k | Unchanged |
| Quarry LP 0.02% of their portfolio | 10.5k $130.1k | Unchanged |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 4.6k $53.6k | Unchanged |
| UBS Group AG 0.00% of their portfolio | 184 $2.2k | Reduced -16 |
| MORGAN STANLEY 0.00% of their portfolio | 57 $668 | Reduced -3 |
| SBI Securities Co., Ltd. 0.00% of their portfolio | 2 $24 | Unchanged |