Vault-13

FLAG SHIP ACQUISITION CORP FSHP

ORD SHS · Common Stock · CUSIP G3530C109

14 institutional holders -3 vs Q1 2026
2,329,6982.3m shares reported held*
46.4% of all shares outstanding*
$25.6mreported value*
1 new 3 added 6 reduced 4 sold out net sold ≈ $7.3m (-662.3k 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. Shares outstanding: 5.0m as of 2026-06-05, 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 ≈ $10.99.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0102030Q3 24: 21Q4 24: 24Q1 25: 22Q2 25: 22Q3 25: 13Q4 25: 14Q1 26: 17Q2 26: 1414Q3 24Q1 25Q3 25Q1 26Q2 26
Numbers
QuarterHolders
Q3 202421
Q4 202424
Q1 202522
Q2 202522
Q3 202513
Q4 202514
Q1 202617
Q2 202614

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q4 24: 9 bought or addedQ4 24: 7 cut or sold outQ4 24Q1 25: 7 bought or addedQ1 25: 8 cut or sold outQ2 25: 6 bought or addedQ2 25: 3 cut or sold outQ2 25Q3 25: 3 bought or addedQ3 25: 19 cut or sold outQ4 25: 2 bought or addedQ4 25: 5 cut or sold outQ4 25Q1 26: 6 bought or addedQ1 26: 5 cut or sold outQ2 26: 4 bought or addedQ2 26: 10 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q4 202497
Q1 202578
Q2 202563
Q3 2025319
Q4 202525
Q1 202665
Q2 2026410

Biggest buyers

MIZUHO SECURITIES USA LLC Added +400,000+400.0k
BERKLEY W R CORP Added +15,069+15.1k
AQR Arbitrage LLC Added +605+605
UBS Group AG New +30+30

Biggest sellers

Karpus Management, Inc. Sold out -727,825-727.8k
WOLVERINE ASSET MANAGEMENT LLC Sold out -136,233-136.2k
RLH Capital LLC Reduced -88,949-88.9k
Quarry LP Reduced -50,000-50.0k
TORONTO DOMINION BANK Sold out -33,480-33.5k
Polar Asset Management Partners Inc. Reduced -25,000-25.0k
JANE STREET GROUP, LLC Sold out -10,132-10.1k
HEIGHTS CAPITAL MANAGEMENT, INC Reduced -5,904-5.9k
Clear Street Group Inc. Reduced -491-491
MORGAN STANLEY Reduced -4-4

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
MIZUHO FINANCIAL GROUP INC 13G · institution +0.7 pts · filed 2025-08-13 8.1% +0.7 pts 718.5k≈ $4.9m 2025-08-13
CVI Investments, Inc. 13G · exempt (held before listing) new · filed 2026-05-19 6.1% new 306.6k≈ $3.4m 2026-05-19

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 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.

DateInsiderTradeSharesPrice ValueTheir holding
2026-08-17 MIZUHO SECURITIES USA LLC 10% owner Sold 85,000 — —85.0k shares -21%

Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MIZUHO SECURITIES USA LLC 0.09% of their portfolio NEW YORK, NY 850,500850.5k $9.2m $9.2m 0.09% Added +400.0k +400,000
2 BERKLEY W R CORP 0.24% of their portfolio Greenwich, CT 449,489449.5k $5.0m $5.0m 0.24% Added +15.1k +15,069
3 HEIGHTS CAPITAL MANAGEMENT, INC 0.76% of their portfolio SAN FRANCISCO, CA 296,443296.4k $3.3m $3.3m 0.76% Reduced -5.9k -5,904
4 RLH Capital LLC 0.85% of their portfolio Great Neck, NY 160,000160.0k $1.8m $1.8m 0.85% Reduced -88.9k -88,949
5 Polar Asset Management Partners Inc. 0.03% of their portfolio TORONTO, A6 125,000125.0k $1.4m $1.4m 0.03% Reduced -25.0k -25,000
6 AQR Arbitrage LLC 0.02% of their portfolio Greenwich, CT 120,931120.9k $1.3m $1.3m 0.02% Added +605 +605
7 Crossingbridge Advisors, LLC 0.18% of their portfolio PLEASANTVILLE, NY 93,55293.6k $1.0m $1.0m 0.18% Unchanged
8 Quarry LP 0.14% of their portfolio NEW YORK, NY 80,00080.0k $887.2k $887.2k 0.14% Reduced -50.0k -50,000
9 Clear Street Group Inc. 0.00% of their portfolio NEW YORK, NY 58,13058.1k $651.6k $651.6k 0.00% Reduced -491 -491
10 Westchester Capital Management, LLC 0.03% of their portfolio VALHALLA, NY 52,70252.7k $580.2k $580.2k 0.03% Unchanged
11 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 38,43438.4k $424.3k $424.3k 0.00% Unchanged
12 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 4,4304.4k $48.9k $48.9k 0.00% Unchanged
13 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 5757 $629 $629 0.00% Reduced -4 -4
14 UBS Group AG 0.00% of their portfolio ZURICH, V8 3030 $331 $331 0.00% New