FLAG SHIP ACQUISITION CORP FSHP
ORD SHS · Common Stock · CUSIP G3530C109
- SectorBlank check (SPAC)
- IndustryBlank Checks
- HeadquartersNew York, NY
- 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: 5.0m as of 2025-10-30, 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 ≈ $10.56.
Trends to Q3 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2024 | 21 |
| Q4 2024 | 24 |
| Q1 2025 | 22 |
| Q2 2025 | 22 |
| Q3 2025 | 13 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2024 | 9 | 7 |
| Q1 2025 | 7 | 8 |
| Q2 2025 | 6 | 3 |
| Q3 2025 | 3 | 19 |
Biggest buyers
| Crossingbridge Advisors, LLC | New | +133.0k |
| Westchester Capital Management, LLC | New | +52.7k |
| MORGAN STANLEY | Added | +5 |
Biggest sellers
| First Trust Capital Management L.P. | Sold out | -612.8k |
| RIVERNORTH CAPITAL MANAGEMENT, LLC | Sold out | -577.0k |
| TORONTO DOMINION BANK | Sold out | -406.5k |
| WOLVERINE ASSET MANAGEMENT LLC | Reduced | -346.7k |
| GLAZER CAPITAL, LLC | Sold out | -293.3k |
| MIZUHO SECURITIES USA LLC | Reduced | -268.0k |
| BERKLEY W R CORP | Reduced | -257.9k |
| Polar Asset Management Partners Inc. | Reduced | -227.0k |
| AQR Arbitrage LLC | Reduced | -159.4k |
| Cable Car Capital, LP | Sold out | -138.0k |
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 +0.7 pts · filed 2025-08-13 | 8.1% |
| CVI Investments, Inc. 13G · exempt (held before listing) new · filed 2026-05-19 | 6.1% |
Fell to 5% or below in the last year: BERKLEY W R CORP (0.0%, 2026-08-06), Karpus Management, Inc. (0.1%, 2026-06-05), First Trust Capital Management L.P. (0.0%, 2025-11-14)
Insider purchases and sales in Q3 2025
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 in Q3 2025.
Holders, Q3 2025
| Manager | Shares | Change |
|---|---|---|
| Karpus Management, Inc. 0.25% of their portfolio | 738.6k $7.8m | Reduced -49.2k |
| MIZUHO SECURITIES USA LLC 0.10% of their portfolio | 450.5k $4.7m | Reduced -268.0k |
| BERKLEY W R CORP 0.27% of their portfolio | 400.9k $4.2m | Reduced -257.9k |
| HEIGHTS CAPITAL MANAGEMENT, INC 1.04% of their portfolio | 308.4k $3.3m | Reduced -5.6k |
| Polar Asset Management Partners Inc. 0.03% of their portfolio | 150.0k $1.6m | Reduced -227.0k |
| WOLVERINE ASSET MANAGEMENT LLC 0.02% of their portfolio | 147.4k $1.6m | Reduced -346.7k |
| Crossingbridge Advisors, LLC 0.72% of their portfolio | 133.0k $1.4m | New |
| Quarry LP 0.34% of their portfolio | 130.0k $1.4m | Reduced -58.7k |
| AQR Arbitrage LLC 0.03% of their portfolio | 125.2k $1.3m | Reduced -159.4k |
| Westchester Capital Management, LLC 0.03% of their portfolio | 52.7k $556.5k | New |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 38.4k $405.9k | Reduced -48.0k |
| Clear Street Group Inc. 0.00% of their portfolio | 7.2k $76.5k | First filing |
| MORGAN STANLEY 0.00% of their portfolio | 44 $465 | Added +5 |