Vault-13

FIFTH ERA ACQUISITION CORP I FERA

ORD SHS CL A · Common Stock · CUSIP G3415K101

50 institutional holders -2 vs Q1 2026
22,411,69222.4m shares reported held*
$233.5mreported value*
5 new 11 added 11 reduced 7 sold out net bought ≈ $31.2m (+3.0m 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 ($6.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $10.42.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0204060Q2 25: 42Q3 25: 47Q4 25: 48Q1 26: 52Q2 26: 5050Q2 25Q3 25Q4 25Q1 26Q2 26
Numbers
QuarterHolders
Q2 202542
Q3 202547
Q4 202548
Q1 202652
Q2 202650

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q3 25: 16 bought or addedQ3 25: 13 cut or sold outQ3 25Q4 25: 12 bought or addedQ4 25: 8 cut or sold outQ4 25Q1 26: 10 bought or addedQ1 26: 12 cut or sold outQ1 26Q2 26: 16 bought or addedQ2 26: 18 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 20251613
Q4 2025128
Q1 20261012
Q2 20261618

Calls vs puts

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

CallsPuts
$0$20k$40k$60kQ3 25 calls: $53.0kQ3 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$53.0k$00.00
Q4 2025$0$0—
Q1 2026$0$0—
Q2 2026$0$0—

Biggest buyers

Crossingbridge Advisors, LLC New +1,110,000+1.1m
RiverPark Advisors, LLC New +650,000+650.0k
GLAZER CAPITAL, LLC Added +646,401+646.4k
TORONTO DOMINION BANK Added +624,760+624.8k
LMR Partners LLP New +500,000+500.0k
MIZUHO SECURITIES USA LLC Added +441,620+441.6k
RLH Capital LLC New +250,000+250.0k
HIGHBRIDGE CAPITAL MANAGEMENT LLC Added +147,854+147.9k
Verition Fund Management LLC Added +134,880+134.9k
Westchester Capital Management, LLC Added +100,000+100.0k

Biggest sellers

Parallax Volatility Advisers, L.P. Sold out -400,300-400.3k
COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS Sold out -350,000-350.0k
CITADEL ADVISORS LLC Reduced -291,745-291.7k
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Sold out -250,000-250.0k
Jain Global LLC Reduced -145,133-145.1k
DLD Asset Management, LP Sold out -121,540-121.5k
Brevan Howard Capital Management LP Sold out -75,000-75.0k
Periscope Capital Inc. Reduced -75,000-75.0k
Bulldog Investors, LLP Sold out -50,953-51.0k
GABELLI FUNDS LLC Reduced -50,500-50.5k

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
Fifth Era Acquisition Sponsor I LLC 13D · may seek influence no change · filed 2025-09-16
Stated purposeIn connection with the organization of the Issuer, on May 22, 2024, 5,750,000 Class B Ordinary Shares (the "Founder Shares") were purchased by the Sponsor for the amount of $25,000, pursuant to a Securities Subscription Agreement, dated as of May 22, 2024, by and between the Sponsor and the Issuer (the "Founder Share Purchase Agreement"), as more fully described in Item 6 of this Schedule 13D which information is incorporated herein by reference. In December 2024, the Issuer effected a share capitalization of 0.33 shares for each Class B ordinary share outstanding, resulting in the Sponsor holding an aggregate of 7,666,667 founder shares. On February 27, 2025, simultaneously with the consummation of the Issuer's Initial Public Offering (the "IPO"), the Sponsor purchased 380,000 units ("P… Full filing
 25.7% no change 8.0m≈ $83.8m 2025-09-16
MMCAP International Inc. SPC 13G · passive investor +1.1 pts · filed 2026-02-13 8.1% +1.1 pts 1.9m≈ $19.8m 2026-02-13
GLAZER CAPITAL, LLC 13G · institution new · filed 2026-08-13 7.6% new 1.8m≈ $18.8m 2026-08-13
Magnetar Financial LLC 13G · institution new · filed 2025-08-08 6.3% new 1.5m≈ $15.6m 2025-08-08
AQR CAPITAL MANAGEMENT LLC 13G · institution -1.6 pts · filed 2025-08-14 5.9% -1.6 pts 1.4m≈ $14.5m 2025-08-14

Fell to 5% or below in the last year: GOLDMAN SACHS GROUP INC (4.4%, 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.

Officers and directors buying vs selling

Number of people, by quarter (10% owners not included)

BuyingSelling
101Q4 24: 0 buyingQ4 24: 0 sellingQ1 25: 1 buyingQ1 25: 0 sellingQ1 25Q2 25: 0 buyingQ2 25: 0 sellingQ3 25: 0 buyingQ3 25: 0 sellingQ3 25Q4 25: 0 buyingQ4 25: 0 sellingQ1 26: 0 buyingQ1 26: 0 sellingQ1 26Q2 26: 0 buyingQ2 26: 0 sellingQ3 26: 0 buyingQ3 26: 0 sellingQ3 26
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q4 20240—0——
Q1 20251$3.8m0——
Q2 20250—0——
Q3 20250—0——
Q4 20250—0——
Q1 20260—0——
Q2 20260—0——
Q3 20260—0——

None reported since 1 Apr 2026.

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MMCAP International Inc. SPC 1.68% of their portfolio GRAND CAYMAN, E9 1,900,0001.9m $19.8m $19.8m 1.68% Unchanged
2 GLAZER CAPITAL, LLC 0.46% of their portfolio New York, NY 1,800,2281.8m $18.8m $18.8m 0.46% Added +646.4k +646,401
3 TENOR CAPITAL MANAGEMENT Co., L.P. 0.22% of their portfolio NEW YORK, NY 1,500,0001.5m $15.6m $15.6m 0.22% Unchanged
4 Magnetar Financial LLC 0.14% of their portfolio EVANSTON, IL 1,500,0001.5m $15.6m $15.6m 0.14% Unchanged
5 AQR Arbitrage LLC 0.20% of their portfolio Greenwich, CT 1,353,2721.4m $14.1m $14.1m 0.20% Added +12.6k +12,601
6 Governors Lane LP 1.17% of their portfolio NEW YORK, NY 1,124,9521.1m $11.7m $11.7m 1.17% Unchanged
7 Crossingbridge Advisors, LLC 2.05% of their portfolio PLEASANTVILLE, NY 1,110,0001.1m $11.6m $11.6m 2.05% New
8 WHITEBOX ADVISORS LLC 0.13% of their portfolio MINNEAPOLIS, MN 750,000750.0k $7.8m $7.8m 0.13% Unchanged
9 TORONTO DOMINION BANK 0.01% of their portfolio TORONTO, ONTARIO, A6 725,760725.8k $7.6m $7.6m 0.01% Added +624.8k +624,760
10 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 725,000725.0k $7.6m $7.6m 0.01% Unchanged
11 Hudson Bay Capital Management LP 0.03% of their portfolio STAMFORD, CT 650,000650.0k $6.8m $6.8m 0.03% Unchanged
12 RiverPark Advisors, LLC 3.09% of their portfolio NEW YORK, NY 650,000650.0k $6.8m $6.8m 3.09% New
13 MIZUHO SECURITIES USA LLC 0.06% of their portfolio NEW YORK, NY 576,033576.0k $6.0m $6.0m 0.06% Added +441.6k +441,620
14 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 500,102500.1k $5.2m $5.2m 0.00% Added +99.9k +99,900
15 Linden Advisors LP 0.03% of their portfolio New York, NY 500,000500.0k $5.2m $5.2m 0.03% Unchanged
16 Alberta Investment Management Corp 0.03% of their portfolio EDMONTON, A0 500,000500.0k $5.2m $5.2m 0.03% Unchanged
17 PICTON MAHONEY ASSET MANAGEMENT 0.05% of their portfolio Toronto, A6 500,000500.0k $5.2m $5.2m 0.05% Unchanged
18 LMR Partners LLP 0.04% of their portfolio LONDON, X0 500,000500.0k $5.2m $5.2m 0.04% New
19 First Trust Capital Management L.P. 0.27% of their portfolio CHICAGO, IL 450,000450.0k $4.7m $4.7m 0.27% Unchanged
20 Radcliffe Capital Management, L.P. 0.35% of their portfolio BALA CYNWYD, PA 443,395443.4k $4.6m $4.6m 0.35% Unchanged
21 RIVERNORTH CAPITAL MANAGEMENT, LLC 0.20% of their portfolio WEST PALM BEACH, FL 399,775399.8k $4.2m $4.2m 0.20% Reduced -97 -97
22 HEIGHTS CAPITAL MANAGEMENT, INC 0.84% of their portfolio SAN FRANCISCO, CA 350,000350.0k $3.6m $3.6m 0.84% Unchanged
23 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 346,581346.6k $3.6m $3.6m 0.00% Unchanged
24 ARISTEIA CAPITAL, L.L.C. 0.06% of their portfolio GREENWICH, CT 339,583339.6k $3.5m $3.5m 0.06% Unchanged
25 Verition Fund Management LLC 0.02% of their portfolio GREENWICH, CT 333,883333.9k $3.5m $3.5m 0.02% Added +134.9k +134,880
26 Schonfeld Strategic Advisors LLC 0.02% of their portfolio NEW YORK, NY 319,330319.3k $3.3m $3.3m 0.02% Reduced -300 -300
27 Context Capital Management, LLC 0.06% of their portfolio LAJOLLA, CA 300,000300.0k $3.1m $3.1m 0.06% Unchanged
28 Mint Tower Capital Management B.V. 0.37% of their portfolio AMSTERDAM, P7 300,000300.0k $3.1m $3.1m 0.37% Unchanged
29 BERKLEY W R CORP 0.14% of their portfolio Greenwich, CT 281,174281.2k $2.9m $2.9m 0.14% Added +81.6k +81,630
30 CSS LLC/IL 0.12% of their portfolio CHICAGO, IL 264,731264.7k $2.8m $2.8m 0.12% Unchanged
31 RLH Capital LLC 1.25% of their portfolio Great Neck, NY 250,000250.0k $2.6m $2.6m 1.25% New
32 Wealthspring Capital LLC 0.54% of their portfolio WEST HARRISON, NY 230,750230.8k $2.4m $2.4m 0.54% Reduced -700 -700
33 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 200,000200.0k $2.1m $2.1m 0.00% Unchanged
34 Westchester Capital Management, LLC 0.10% of their portfolio VALHALLA, NY 186,300186.3k $1.9m $1.9m 0.10% Added +100.0k +100,000
35 GABELLI & Co INVESTMENT ADVISERS, INC. 0.26% of their portfolio Rye, NY 174,500174.5k $1.8m $1.8m 0.26% Unchanged
36 HIGHBRIDGE CAPITAL MANAGEMENT LLC 0.05% of their portfolio NEW YORK, NY 150,552150.6k $1.6m $1.6m 0.05% Added +147.9k +147,854
37 MOORE CAPITAL MANAGEMENT, LP 0.04% of their portfolio NEW YORK, NY 150,000150.0k $1.6m $1.6m 0.04% Unchanged
38 Periscope Capital Inc. 0.21% of their portfolio Toronto, A6 125,000125.0k $1.3m $1.3m 0.21% Reduced -75.0k -75,000
39 Shaolin Capital Management LLC 0.07% of their portfolio Miami, FL 124,149124.1k $1.3m $1.3m 0.07% Reduced -851 -851
40 GABELLI FUNDS LLC 0.00% of their portfolio Rye, NY 75,00075.0k $781.5k $781.5k 0.00% Reduced -50.5k -50,500
41 Jain Global LLC 0.01% of their portfolio NEW YORK, NY 73,89773.9k $770.0k $770.0k 0.01% Reduced -145.1k -145,133
42 WOLVERINE ASSET MANAGEMENT LLC 0.01% of their portfolio CHICAGO, IL 71,36571.4k $743.6k $743.6k 0.01% Reduced -3.8k -3,792
43 TrueMark Investments, LLC 0.07% of their portfolio CHICAGO, IL 50,93050.9k $530.7k $530.7k 0.07% New
44 DELTEC ASSET MANAGEMENT LLC 0.08% of their portfolio New York, NY 50,00050.0k $521.0k $521.0k 0.08% Unchanged
45 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 47,27647.3k $492.6k $492.6k 0.00% Unchanged
46 Clear Street Group Inc. 0.00% of their portfolio NEW YORK, NY 43,67143.7k $455.1k $455.1k 0.00% Reduced -16.8k -16,811
47 Rangeley Capital, LLC 0.32% of their portfolio NEW CANAAN, CT 33,45833.5k $348.6k $348.6k 0.32% Added +2.5k +2,468
48 PenderFund Capital Management Ltd. 0.03% of their portfolio VANCOUVER, A1 18,86118.9k $196.5k $196.5k 0.03% Added +10.7k +10,661
49 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 12,13512.1k $126.4k $126.4k 0.00% Reduced -291.7k -291,745
50 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 4949 $511 $511 0.00% Reduced -21 -21