Vault-13

CHURCHILL CAPITAL CORP IX

CL A SHS · CUSIP G21301109

51 institutional holders +6 vs Q1 2026
28,048,52928.0m shares reported held*
$305.4mreported value*
13 new 6 added 15 reduced 7 sold out net bought ≈ $56.4m (+5.2m 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 ($5.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $10.89.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0255075Q2 24: 19Q3 24: 38Q4 24: 45Q1 25: 45Q2 25: 63Q3 25: 57Q4 25: 58Q1 26: 45Q2 26: 5151Q2 24Q4 24Q2 25Q4 25Q2 26
Numbers
QuarterHolders
Q2 202419
Q3 202438
Q4 202445
Q1 202545
Q2 202563
Q3 202557
Q4 202558
Q1 202645
Q2 202651

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q3 24: 28 bought or addedQ3 24: 4 cut or sold outQ4 24: 16 bought or addedQ4 24: 16 cut or sold outQ4 24Q1 25: 10 bought or addedQ1 25: 16 cut or sold outQ2 25: 34 bought or addedQ2 25: 20 cut or sold outQ2 25Q3 25: 19 bought or addedQ3 25: 20 cut or sold outQ4 25: 15 bought or addedQ4 25: 25 cut or sold outQ4 25Q1 26: 12 bought or addedQ1 26: 27 cut or sold outQ2 26: 19 bought or addedQ2 26: 22 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 2024284
Q4 20241616
Q1 20251016
Q2 20253420
Q3 20251920
Q4 20251525
Q1 20261227
Q2 20261922

Calls vs puts

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

CallsPuts
$0$50k$100k$150kQ3 25 calls: $136.6kQ3 25 puts: $0Q3 25P/C 0.00Q4 25 calls: $0Q4 25 puts: $0Q4 25P/C —Q1 26 calls: $0Q1 26 puts: $0Q1 26P/C —Q2 26 calls: $0Q2 26 puts: $0Q2 26P/C —
Numbers
QuarterCallsPutsP/C
Q3 2025$136.6k$00.00
Q4 2025$0$0—
Q1 2026$0$0—
Q2 2026$0$0—

Biggest buyers

Fort Baker Capital Management LP Added +1,417,766+1.4m
TORONTO DOMINION BANK New +1,080,960+1.1m
Harraden Circle Investments, LLC New +986,559+986.6k
Sculptor Capital LP Added +985,930+985.9k
Meteora Capital, LLC Added +942,608+942.6k
Verition Fund Management LLC New +602,242+602.2k
Centiva Capital, LP New +600,000+600.0k
Polar Asset Management Partners Inc. New +506,236+506.2k
AQR Arbitrage LLC Added +484,340+484.3k
CANTOR FITZGERALD, L. P. New +393,278+393.3k

Biggest sellers

BERKLEY W R CORP Reduced -1,706,077-1.7m
Westchester Capital Management, LLC Reduced -648,798-648.8k
GOLDMAN SACHS GROUP INC Reduced -484,340-484.3k
Crossingbridge Advisors, LLC Reduced -300,000-300.0k
RLH Capital LLC Sold out -147,092-147.1k
RiverPark Advisors, LLC Reduced -109,000-109.0k
ARISTEIA CAPITAL, L.L.C. Reduced -100,000-100.0k
DLD Asset Management, LP Reduced -50,000-50.0k
Logan Stone Capital, LLC Sold out -43,510-43.5k
Schonfeld Strategic Advisors LLC Reduced -30,098-30.1k

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
Churchill Sponsor IX LLC 13D · may seek influence no change · filed 2025-09-22
Stated purposeItem 4 is being amended to reflect certain updates reported in the Form S-4 Registration Statement filed by the Issuer on September 19, 2025. Merger Agreement As disclosed in the Registration Statement on Form S-4 and filed by the Issuer on September 19, 2025, the Issuer entered into an Agreement and Plan of Merger and Reorganization, dated as of June 5, 2025 (as amended by Amendment No. 1 dated September 8, 2025 and Amendment No. 2 dated September 18, 2025 and as may be further amended, modified, supplemented or waived from time to time, the "Merger Agreement") by and among the Issuer, AL Merger Sub I, Inc., a Delaware corporation and direct, wholly owned subsidiary of the Issuer ("Merger Sub I"), AL Merger Sub II, LLC, a Delaware limited liability company and a direct, wholly-owned sub… Full filing
 21.6% no change 7.9m≈ $86.2m 2025-09-22
Empyrean Capital Partners, LP 13G · institution filed 2025-02-14 9.8% 2.9m≈ $31.6m 2025-02-14
Fort Baker Capital Management LP 13G · institution +4.8 pts · filed 2026-08-14 9.7% +4.8 pts 2.9m≈ $31.3m 2026-08-14
METEORA CAPITAL, LLC 13G · institution new · filed 2026-08-14 6.3% new 1.9m≈ $20.3m 2026-08-14
TENOR CAPITAL MANAGEMENT Co., L.P. 13G · passive investor new · filed 2025-10-16 5.9% new 1.8m≈ $19.1m 2025-10-16

Fell to 5% or below in the last year: Magnetar Financial LLC (0.0%, 2026-09-04), BERKLEY W R CORP (0.4%, 2026-08-05), GOLDMAN SACHS GROUP INC (2.9%, 2026-05-11)

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Fort Baker Capital Management LP 2.49% of their portfolio Larkspur, CA 2,873,6552.9m $31.3m $31.3m 2.49% Added +1.4m +1,417,766
2 TENOR CAPITAL MANAGEMENT Co., L.P. 0.41% of their portfolio NEW YORK, NY 2,702,1882.7m $29.4m $29.4m 0.41% Unchanged
3 Empyrean Capital Partners, LP 1.01% of their portfolio LOS ANGELES, CA 2,633,5822.6m $28.7m $28.7m 1.01% Unchanged
4 Meteora Capital, LLC 1.69% of their portfolio Boca Raton, FL 1,866,8201.9m $20.3m $20.3m 1.69% Added +942.6k +942,608
5 Alberta Investment Management Corp 0.09% of their portfolio EDMONTON, A0 1,500,0001.5m $16.3m $16.3m 0.09% Unchanged
6 Sculptor Capital LP 0.16% of their portfolio New York, NY 1,385,9301.4m $15.1m $15.1m 0.16% Added +985.9k +985,930
7 D. E. Shaw & Co., Inc. 0.01% of their portfolio New York, NY 1,230,6691.2m $13.4m $13.4m 0.01% Unchanged
8 ARISTEIA CAPITAL, L.L.C. 0.20% of their portfolio GREENWICH, CT 1,161,6021.2m $12.6m $12.6m 0.20% Reduced -100.0k -100,000
9 Linden Advisors LP 0.06% of their portfolio New York, NY 1,150,0001.1m $12.5m $12.5m 0.06% Unchanged
10 TORONTO DOMINION BANK 0.02% of their portfolio TORONTO, ONTARIO, A6 1,080,9601.1m $11.8m $11.8m 0.02% New
11 Crossingbridge Advisors, LLC 2.03% of their portfolio PLEASANTVILLE, NY 1,051,9271.1m $11.5m $11.5m 2.03% Reduced -300.0k -300,000
12 HIGHBRIDGE CAPITAL MANAGEMENT LLC 0.37% of their portfolio NEW YORK, NY 1,004,6031.0m $11.0m $11.0m 0.37% Reduced -102 -102
13 MOORE CAPITAL MANAGEMENT, LP 0.25% of their portfolio NEW YORK, NY 1,000,0001.0m $10.9m $10.9m 0.25% Unchanged
14 Harraden Circle Investments, LLC 1.37% of their portfolio NEW YORK, NY 986,559986.6k $10.7m $10.7m 1.37% New
15 AQR Arbitrage LLC 0.13% of their portfolio Greenwich, CT 831,741831.7k $9.1m $9.1m 0.13% Added +484.3k +484,340
16 Verition Fund Management LLC 0.05% of their portfolio GREENWICH, CT 602,242602.2k $6.6m $6.6m 0.05% New
17 Centiva Capital, LP 0.22% of their portfolio New York, NY 600,000600.0k $6.5m $6.5m 0.22% New
18 Polar Asset Management Partners Inc. 0.10% of their portfolio TORONTO, A6 506,236506.2k $5.5m $5.5m 0.10% New
19 RiverPark Advisors, LLC 2.45% of their portfolio NEW YORK, NY 492,927492.9k $5.4m $5.4m 2.45% Reduced -109.0k -109,000
20 Ghisallo Capital Management LLC 0.09% of their portfolio BOSTON, MA 400,000400.0k $4.4m $4.4m 0.09% Unchanged
21 CANTOR FITZGERALD, L. P. 0.04% of their portfolio NEW YORK, NY 393,278393.3k $4.3m $4.3m 0.04% New
22 Verbena Value LP 0.51% of their portfolio WESTPORT, CT 280,938280.9k $3.1m $3.1m 0.51% Unchanged
23 WOLVERINE ASSET MANAGEMENT LLC 0.04% of their portfolio CHICAGO, IL 255,583255.6k $2.8m $2.8m 0.04% Added +143.3k +143,300
24 GABELLI & Co INVESTMENT ADVISERS, INC. 0.40% of their portfolio Rye, NY 249,650249.7k $2.7m $2.7m 0.40% Unchanged
25 Clear Street Group Inc. 0.01% of their portfolio NEW YORK, NY 228,144228.1k $2.5m $2.5m 0.01% Reduced -11.8k -11,836
26 GABELLI FUNDS LLC 0.02% of their portfolio Rye, NY 225,350225.3k $2.5m $2.5m 0.02% Reduced -25.0k -25,000
27 Shaolin Capital Management LLC 0.13% of their portfolio Miami, FL 214,648214.6k $2.3m $2.3m 0.13% New
28 MIZUHO SECURITIES USA LLC 0.02% of their portfolio NEW YORK, NY 208,050208.1k $2.2m $2.2m 0.02% New
29 Westchester Capital Management, LLC 0.10% of their portfolio VALHALLA, NY 175,971176.0k $1.9m $1.9m 0.10% Reduced -648.8k -648,798
30 DLD Asset Management, LP 0.13% of their portfolio NEW YORK, NY 150,862150.9k $1.6m $1.6m 0.13% Reduced -50.0k -50,000
31 Alpine Global Management, LLC 0.27% of their portfolio NEW YORK, NY 150,000150.0k $1.6m $1.6m 0.27% New
32 Massar Capital Management, LP 0.42% of their portfolio STAMFORD, CT 112,409112.4k $1.2m $1.2m 0.42% Added +2.4k +2,409
33 BERKLEY W R CORP 0.06% of their portfolio Greenwich, CT 104,360104.4k $1.1m $1.1m 0.06% Reduced -1.7m -1,706,077
34 MMCAP International Inc. SPC 0.09% of their portfolio GRAND CAYMAN, E9 100,000100.0k $1.1m $1.1m 0.09% Unchanged
35 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 99,86899.9k $1.1m $1.1m 0.00% New
36 BOOTHBAY FUND MANAGEMENT, LLC 0.02% of their portfolio NEW YORK, NY 98,96899.0k $1.1m $1.1m 0.02% New
37 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 90,93090.9k $990.0k $990.0k 0.00% Reduced -8.9k -8,926
38 Schonfeld Strategic Advisors LLC 0.01% of their portfolio NEW YORK, NY 89,90089.9k $979.0k $979.0k 0.01% Reduced -30.1k -30,098
39 DELTEC ASSET MANAGEMENT LLC 0.11% of their portfolio New York, NY 70,00070.0k $762.3k $762.3k 0.11% Unchanged
40 Mint Tower Capital Management B.V. 0.06% of their portfolio AMSTERDAM, P7 50,00050.0k $545.0k $545.0k 0.06% Unchanged
41 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 43,68843.7k $475.8k $475.8k 0.00% Reduced -484.3k -484,340
42 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 31,33631.3k $341.2k $341.2k 0.00% Unchanged
43 Hudson Bay Capital Management LP 0.00% of their portfolio STAMFORD, CT 17,15917.2k $186.9k $186.9k 0.00% Unchanged
44 Balyasny Asset Management L.P. 0.00% of their portfolio Chicago, IL 15,97716.0k $174.0k $174.0k 0.00% Reduced -400 -400
45 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 10,06010.1k $109.6k $109.6k 0.00% Unchanged
46 Mercuria Capital Strategies, LLC 0.06% of their portfolio HOUSTON, TX 8,7628.8k $95.4k $95.4k 0.06% Unchanged
47 Rangeley Capital, LLC 0.02% of their portfolio NEW CANAAN, CT 1,6021.6k $17.4k $17.4k 0.02% New
48 FNY Investment Advisers, LLC 0.00% of their portfolio NEW YORK, NY 1,0001.0k $10.0k $10.0k 0.00% Reduced -3.4k -3,444
49 LONGFELLOW INVESTMENT MANAGEMENT CO LLC 0.00% of their portfolio BOSTON, MA 904904 $9.8k $9.8k 0.00% Unchanged
50 PenderFund Capital Management Ltd. 0.00% of their portfolio VANCOUVER, A1 380380 $4.1k $4.1k 0.00% New
51 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 3838 $414 $414 0.00% Reduced -26 -26