Vault-13

PYROPHYTE ACQUISITION CORP. PAII

CL A SHS · Common Stock · CUSIP G7309T102

56 institutional holders +2 vs Q1 2026
20,332,45920.3m shares reported held*
$209.4mreported value*
3 new 8 added 6 reduced 1 sold out net bought ≈ $11.1m (+1.1m 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 ≈ $10.30.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0204060Q3 25: 38Q4 25: 52Q1 26: 54Q2 26: 5656Q3 25Q4 25Q1 26Q2 26
Numbers
QuarterHolders
Q3 202538
Q4 202552
Q1 202654
Q2 202656

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q4 25: 23 bought or addedQ4 25: 13 cut or sold outQ4 25Q1 26: 12 bought or addedQ1 26: 14 cut or sold outQ1 26Q2 26: 11 bought or addedQ2 26: 7 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q4 20252313
Q1 20261214
Q2 2026117

Biggest buyers

MIZUHO SECURITIES USA LLC Added +928,369+928.4k
Harraden Circle Investments, LLC Added +300,000+300.0k
StoneX Group Inc. New +145,217+145.2k
Centiva Capital, LP New +50,000+50.0k
Parallax Volatility Advisers, L.P. Added +39,846+39.8k
Schonfeld Strategic Advisors LLC Added +24,643+24.6k
WOLVERINE ASSET MANAGEMENT LLC Added +23,466+23.5k
Radcliffe Capital Management, L.P. Added +21,500+21.5k
ROBINSON CAPITAL MANAGEMENT, LLC New +12,000+12.0k
AQR Arbitrage LLC Added +3,251+3.3k

Biggest sellers

Meteora Capital, LLC Reduced -229,407-229.4k
Shaolin Capital Management LLC Reduced -54,914-54.9k
Virtu Financial LLC Sold out -51,084-51.1k
Verition Fund Management LLC Reduced -50,000-50.0k
TORONTO DOMINION BANK Reduced -38,300-38.3k
Clear Street Group Inc. Reduced -37,419-37.4k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -4,123-4.1k

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
Pyrophyte Acquisition II LLC 13G · passive new · filed 2026-02-06 26.2% new 7.1m≈ $72.8m 2026-02-06
Linden Capital L.P. 13G · passive investor new · filed 2025-09-22 5.7% new 1.1m≈ $11.7m 2025-09-22

Fell to 5% or below in the last year: MILLENNIUM MANAGEMENT LLC (3.9%, 2026-01-29)

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

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Linden Advisors LP 0.06% of their portfolio New York, NY 1,150,0001.1m $11.7m $11.7m 0.06% Unchanged
2 MIZUHO SECURITIES USA LLC 0.12% of their portfolio NEW YORK, NY 1,125,6301.1m $12.6m $12.6m 0.12% Added +928.4k +928,369
3 D. E. Shaw & Co., Inc. 0.01% of their portfolio New York, NY 992,036992.0k $10.1m $10.1m 0.01% Unchanged
4 Hudson Bay Capital Management LP 0.04% of their portfolio STAMFORD, CT 925,000925.0k $9.4m $9.4m 0.04% Unchanged
5 ARISTEIA CAPITAL, L.L.C. 0.14% of their portfolio GREENWICH, CT 850,000850.0k $8.7m $8.7m 0.14% Unchanged
6 HGC Investment Management Inc. 1.71% of their portfolio TORONTO, A6 850,000850.0k $8.7m $8.7m 1.71% Unchanged
7 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 801,000801.0k $8.2m $8.2m 0.01% Unchanged
8 GLAZER CAPITAL, LLC 0.20% of their portfolio New York, NY 799,907799.9k $8.2m $8.2m 0.20% Added +309 +309
9 Alberta Investment Management Corp 0.04% of their portfolio EDMONTON, A0 750,000750.0k $7.7m $7.7m 0.04% Unchanged
10 Schonfeld Strategic Advisors LLC 0.04% of their portfolio NEW YORK, NY 718,211718.2k $7.3m $7.3m 0.04% Added +24.6k +24,643
11 TENOR CAPITAL MANAGEMENT Co., L.P. 0.10% of their portfolio NEW YORK, NY 700,000700.0k $7.1m $7.1m 0.10% Unchanged
12 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 684,375684.4k $7.0m $7.0m 0.01% Unchanged
13 Meteora Capital, LLC 0.50% of their portfolio Boca Raton, FL 592,693592.7k $6.0m $6.0m 0.50% Reduced -229.4k -229,407
14 Polar Asset Management Partners Inc. 0.10% of their portfolio TORONTO, A6 550,100550.1k $5.6m $5.6m 0.10% Unchanged
15 AQR Arbitrage LLC 0.08% of their portfolio Greenwich, CT 549,669549.7k $5.6m $5.6m 0.08% Added +3.3k +3,251
16 MOORE CAPITAL MANAGEMENT, LP 0.12% of their portfolio NEW YORK, NY 500,000500.0k $5.1m $5.1m 0.12% Unchanged
17 PICTON MAHONEY ASSET MANAGEMENT 0.05% of their portfolio Toronto, A6 500,000500.0k $5.1m $5.1m 0.05% Unchanged
18 Radcliffe Capital Management, L.P. 0.36% of their portfolio BALA CYNWYD, PA 467,558467.6k $4.8m $4.8m 0.36% Added +21.5k +21,500
19 Governors Lane LP 0.44% of their portfolio NEW YORK, NY 435,274435.3k $4.4m $4.4m 0.44% Unchanged
20 TORONTO DOMINION BANK 0.01% of their portfolio TORONTO, ONTARIO, A6 411,800411.8k $4.2m $4.2m 0.01% Reduced -38.3k -38,300
21 Magnetar Financial LLC 0.04% of their portfolio EVANSTON, IL 375,830375.8k $3.8m $3.8m 0.04% Unchanged
22 OMERS ADMINISTRATION Corp 0.02% of their portfolio TORONTO, A6 350,000350.0k $3.6m $3.6m 0.02% Unchanged
23 Verition Fund Management LLC 0.03% of their portfolio GREENWICH, CT 350,000350.0k $3.6m $3.6m 0.03% Reduced -50.0k -50,000
24 Periscope Capital Inc. 0.57% of their portfolio Toronto, A6 350,000350.0k $3.6m $3.6m 0.57% Unchanged
25 Harraden Circle Investments, LLC 0.57% of their portfolio NEW YORK, NY 348,923348.9k $4.4m $4.4m 0.57% Added +300.0k +300,000
26 Shaolin Capital Management LLC 0.19% of their portfolio Miami, FL 324,349324.3k $3.3m $3.3m 0.19% Reduced -54.9k -54,914
27 Parallax Volatility Advisers, L.P. 0.11% of their portfolio San Francisco, CA 302,214302.2k $3.1m $3.1m 0.11% Added +39.8k +39,846
28 COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.01% of their portfolio HARRISBURG, PA 300,000300.0k $3.1m $3.1m 0.01% Unchanged
29 WHITEBOX ADVISORS LLC 0.05% of their portfolio MINNEAPOLIS, MN 300,000300.0k $3.1m $3.1m 0.05% Unchanged
30 HBK INVESTMENTS L P 0.03% of their portfolio DALLAS, TX 250,000250.0k $2.5m $2.5m 0.03% Unchanged
31 Westchester Capital Management, LLC 0.13% of their portfolio VALHALLA, NY 250,000250.0k $2.5m $2.5m 0.13% Unchanged
32 First Trust Capital Management L.P. 0.15% of their portfolio CHICAGO, IL 250,000250.0k $2.5m $2.5m 0.15% Unchanged
33 Mercuria Capital Strategies, LLC 1.56% of their portfolio HOUSTON, TX 250,000250.0k $2.5m $2.5m 1.56% Unchanged
34 BOUSSARD & GAVAUDAN GESTION SAS 0.12% of their portfolio PARIS, I0 240,000240.0k $2.5m $2.5m 0.12% First filing
35 BlueCrest Capital Management Ltd 0.10% of their portfolio ST HELIER, Y9 223,000223.0k $2.3m $2.3m 0.10% Unchanged
36 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 205,800205.8k $2.1m $2.1m 0.00% Unchanged
37 Wealthspring Capital LLC 0.45% of their portfolio WEST HARRISON, NY 197,570197.6k $2.0m $2.0m 0.45% Unchanged
38 Clear Street Group Inc. 0.01% of their portfolio NEW YORK, NY 167,263167.3k $1.7m $1.7m 0.01% Reduced -37.4k -37,419
39 SONA ASSET MANAGEMENT (US) LLC 0.06% of their portfolio NEW YORK, NY 151,757151.8k $1.5m $1.5m 0.06% Unchanged
40 O'Connor Alternative Investments LLC 0.11% of their portfolio NEW YORK, NY 150,000150.0k $1.5m $1.5m 0.11% Unchanged
41 StoneX Group Inc. 0.06% of their portfolio NEW YORK, NY 145,217145.2k $1.5m $1.5m 0.06% New
42 Lineage Point Capital LP 0.15% of their portfolio PALM BEACH, FL 72,90072.9k $743.6k $743.6k 0.15% Unchanged
43 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 59,16059.2k $604.0k $604.0k 0.00% Unchanged
44 READYSTATE ASSET MANAGEMENT LP 0.02% of their portfolio CHICAGO, IL 56,74456.7k $578.8k $578.8k 0.02% Unchanged
45 Karpus Management, Inc. 0.01% of their portfolio Pittsford, NY 50,00050.0k $510.0k $510.0k 0.01% Unchanged
46 Centiva Capital, LP 0.02% of their portfolio New York, NY 50,00050.0k $510.0k $510.0k 0.02% New
47 GRITSTONE ASSET MANAGEMENT LLC 0.49% of their portfolio Bethesda, MD 49,59849.6k $505.9k $505.9k 0.49% Unchanged
48 BOOTHBAY FUND MANAGEMENT, LLC 0.01% of their portfolio NEW YORK, NY 40,00040.0k $408.0k $408.0k 0.01% Unchanged
49 WOLVERINE ASSET MANAGEMENT LLC 0.00% of their portfolio CHICAGO, IL 29,36729.4k $299.5k $299.5k 0.00% Added +23.5k +23,466
50 ABC ARBITRAGE SA 0.03% of their portfolio PARIS, I0 25,00025.0k $255.0k $255.0k 0.03% Unchanged
51 Yaupon Capital Management LP 0.01% of their portfolio NEW YORK, NY 20,70820.7k $211.2k $211.2k 0.01% Unchanged
52 ROBINSON CAPITAL MANAGEMENT, LLC 0.05% of their portfolio GROSSE POINTE FARMS, MI 12,00012.0k $122.4k $122.4k 0.05% New
53 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 10,98611.0k $112.1k $112.1k 0.00% Reduced -4.1k -4,123
54 DELTEC ASSET MANAGEMENT LLC 0.02% of their portfolio New York, NY 10,00010.0k $102.0k $102.0k 0.02% Unchanged
55 Gladius Capital Management LP 0.04% of their portfolio PARK CITY, UT 10,00010.0k $102.0k $102.0k 0.04% Unchanged
56 FNY Investment Advisers, LLC 0.00% of their portfolio NEW YORK, NY 820820 $8.0k $8.0k 0.00% Unchanged