BLACK SPADE ACQUISITION III BIII
USD CL A ORD SHS · Common Stock · CUSIP G1154S103
- SectorCommunication
- IndustryCommunications Services, NEC
- FilingsSEC EDGAR
40
institutional holders
+9 vs Q1 2026
13.8m
shares reported held*
$137.4mreported value*
10 new
6 added
4 reduced
1 sold out
net bought ≈ $24.2m (+2.4m 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 ≈ $9.95.
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q1 2026 | 31 |
| Q2 2026 | 40 |
Biggest buyers
| MILLENNIUM MANAGEMENT LLC | Added | +600.0k |
| SONA ASSET MANAGEMENT (US) LLC | New | +600.0k |
| Wealthspring Capital LLC | New | +551.8k |
| MMCAP International Inc. SPC | New | +250.0k |
| Fort Baker Capital Management LP | Added | +200.0k |
| Bulldog Investors, LLP | New | +150.0k |
| CSS LLC/IL | New | +109.8k |
| StoneX Group Inc. | Added | +79.7k |
| Schonfeld Strategic Advisors LLC | New | +77.5k |
| BOOTHBAY FUND MANAGEMENT, LLC | New | +50.0k |
Biggest sellers
| TORONTO DOMINION BANK | Sold out | -213.3k |
| Shaolin Capital Management LLC | Reduced | -117.0k |
| Clear Street Group Inc. | Reduced | -22.6k |
| Virtu Financial LLC | Reduced | -5.8k |
| Parallax Volatility Advisers, L.P. | Reduced | -1 |
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 |
|---|---|
| Black Spade Sponsor LLC III 13G · exempt (held before listing) new · filed 2026-08-25 | 22.3% |
| RP Investment Advisors LP 13G · passive investor +3.1 pts · filed 2026-05-15 | 8.3% |
| ARISTEIA CAPITAL, L.L.C. 13G · institution new · filed 2026-05-14 | 6.4% |
| Magnetar Financial LLC 13G · institution new · filed 2026-05-13 | 5.8% |
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 |
|---|---|---|
| ARISTEIA CAPITAL, L.L.C. 0.17% of their portfolio | 1.1m $10.9m | Unchanged |
| TENOR CAPITAL MANAGEMENT Co., L.P. 0.14% of their portfolio | 1.0m $9.9m | Unchanged |
| Magnetar Financial LLC 0.09% of their portfolio | 1,000.0k $9.9m | Unchanged |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.01% of their portfolio | 825.0k $8.2m | Unchanged |
| AQR Arbitrage LLC 0.11% of their portfolio | 760.4k $7.6m | Unchanged |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 750.0k $7.5m | Added +600.0k |
| Fort Baker Capital Management LP 0.55% of their portfolio | 700.0k $7.0m | Added +200.0k |
| SONA ASSET MANAGEMENT (US) LLC 0.22% of their portfolio | 600.0k $6.0m | New |
| Wealthspring Capital LLC 1.23% of their portfolio | 551.8k $5.5m | New |
| GLAZER CAPITAL, LLC 0.12% of their portfolio | 500.0k $5.0m | Added +24 |
| Alberta Investment Management Corp 0.03% of their portfolio | 500.0k $5.0m | Unchanged |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 439.6k $4.4m | Unchanged |
| Periscope Capital Inc. 0.66% of their portfolio | 418.8k $4.2m | Unchanged |
| PICTON MAHONEY ASSET MANAGEMENT 0.03% of their portfolio | 375.0k $3.7m | Unchanged |
| Radcliffe Capital Management, L.P. 0.28% of their portfolio | 369.3k $3.7m | Added +19.2k |
| First Trust Capital Management L.P. 0.20% of their portfolio | 350.0k $3.5m | Unchanged |
| Shaolin Capital Management LLC 0.16% of their portfolio | 282.7k $2.8m | Reduced -117.0k |
| WHITEBOX ADVISORS LLC 0.04% of their portfolio | 276.2k $2.7m | Unchanged |
| BERKLEY W R CORP 0.13% of their portfolio | 273.8k $2.7m | Unchanged |
| Linden Advisors LP 0.01% of their portfolio | 250.0k $2.5m | Unchanged |
| MMCAP International Inc. SPC 0.21% of their portfolio | 250.0k $2.5m | New |
| Hudson Bay Capital Management LP 0.01% of their portfolio | 225.0k $2.2m | Unchanged |
| Mint Tower Capital Management B.V. 0.26% of their portfolio | 225.0k $2.2m | Unchanged |
| TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio | 201.5k $2.0m | Unchanged |
| Context Capital Management, LLC 0.04% of their portfolio | 200.6k $2.0m | Unchanged |
| MOORE CAPITAL MANAGEMENT, LP 0.05% of their portfolio | 200.0k $2.0m | Unchanged |
| Clear Street Group Inc. 0.01% of their portfolio | 177.9k $1.8m | Reduced -22.6k |
| Bulldog Investors, LLP 0.33% of their portfolio | 150.0k $1.5m | New |
| CSS LLC/IL 0.05% of their portfolio | 109.8k $1.1m | New |
| StoneX Group Inc. 0.04% of their portfolio | 104.7k $1.0m | Added +79.7k |
| WOLVERINE ASSET MANAGEMENT LLC 0.01% of their portfolio | 102.8k $1.0m | Added +2.8k |
| Verition Fund Management LLC 0.01% of their portfolio | 100.0k $995.0k | Unchanged |
| Virtu Financial LLC 0.02% of their portfolio | 79.6k $792.0k | Reduced -5.8k |
| RIVERNORTH CAPITAL MANAGEMENT, LLC 0.04% of their portfolio | 78.1k $778.0k | Unchanged |
| Schonfeld Strategic Advisors LLC 0.00% of their portfolio | 77.5k $771.5k | New |
| BOOTHBAY FUND MANAGEMENT, LLC 0.01% of their portfolio | 50.0k $497.5k | New |
| Centiva Capital, LP 0.02% of their portfolio | 50.0k $497.5k | New |
| Parallax Volatility Advisers, L.P. 0.02% of their portfolio | 50.0k $497.5k | Reduced -1 |
| Arax Advisory Partners 0.00% of their portfolio | 41.0k $407.9k | New |
| MANGROVE PARTNERS IM, LLC 0.01% of their portfolio | 12.9k $128.1k | New |