Vault-13

TRANSLATIONAL DEV ACQUISITIO TDAC

COM CL A · Common Stock · CUSIP G9008W105

35 institutional holders -13 vs Q1 2026
14,960,66215.0m shares reported held*
$159.9mreported value*
6 new 7 added 14 reduced 19 sold out net sold ≈ $13.6m (-1.3m 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 ≈ $10.69.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0204060Q1 25: 31Q2 25: 39Q3 25: 41Q4 25: 44Q1 26: 48Q2 26: 3535Q1 25Q2 25Q3 25Q4 25Q1 26Q2 26
Numbers
QuarterHolders
Q1 202531
Q2 202539
Q3 202541
Q4 202544
Q1 202648
Q2 202635

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q2 25: 18 bought or addedQ2 25: 9 cut or sold outQ2 25Q3 25: 9 bought or addedQ3 25: 12 cut or sold outQ3 25Q4 25: 9 bought or addedQ4 25: 5 cut or sold outQ4 25Q1 26: 11 bought or addedQ1 26: 9 cut or sold outQ1 26Q2 26: 13 bought or addedQ2 26: 33 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q2 2025189
Q3 2025912
Q4 202595
Q1 2026119
Q2 20261333

Calls vs puts

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

CallsPuts
$0$10k$20k$30kQ3 25 calls: $28.3kQ3 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$28.3k$00.00
Q4 2025$0$0—
Q1 2026$0$0—
Q2 2026$0$0—

Biggest buyers

Kryger Capital LLC New +1,141,050+1.1m
HIGHBRIDGE CAPITAL MANAGEMENT LLC Added +823,198+823.2k
Meteora Capital, LLC Added +662,746+662.7k
Linden Advisors LP Added +550,000+550.0k
Calamos Advisors LLC New +371,532+371.5k
MIZUHO SECURITIES USA LLC Added +328,012+328.0k
CANTOR FITZGERALD, L. P. New +307,700+307.7k
BOOTHBAY FUND MANAGEMENT, LLC New +232,034+232.0k
Centiva Capital, LP Added +100,000+100.0k
Brevan Howard Capital Management LP New +60,533+60.5k

Biggest sellers

Hudson Bay Capital Management LP Sold out -650,000-650.0k
Karpus Management, Inc. Sold out -603,425-603.4k
MMCAP International Inc. SPC Sold out -350,000-350.0k
D. E. Shaw & Co., Inc. Sold out -346,900-346.9k
WOLVERINE ASSET MANAGEMENT LLC Reduced -306,478-306.5k
WHITEBOX ADVISORS LLC Sold out -305,000-305.0k
Magnetar Financial LLC Reduced -300,000-300.0k
First Trust Capital Management L.P. Sold out -299,998-300.0k
Crossingbridge Advisors, LLC Sold out -290,100-290.1k
Radcliffe Capital Management, L.P. Reduced -233,574-233.6k

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
GOLDMAN SACHS GROUP INC 13G · institution +1.1 pts · filed 2026-08-12 7.2% +1.1 pts 1.1m≈ $11.3m 2026-08-12
Linden Capital L.P. 13G · passive investor +1.2 pts · filed 2026-08-14 6.7% +1.2 pts 1.1m≈ $12.3m 2026-08-14
AQR CAPITAL MANAGEMENT LLC 13G · institution -2.2 pts · filed 2025-05-14 6.4% -2.2 pts 1.1m≈ $11.8m 2025-05-14
METEORA CAPITAL, LLC 13G · institution new · filed 2026-08-14 6.3% new 919.0k≈ $9.8m 2026-08-14

Fell to 5% or below in the last year: WOLVERINE ASSET MANAGEMENT LLC (4.9%, 2026-07-16)

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 $12.3m $12.3m 0.06% Added +550.0k +550,000
2 Kryger Capital LLC 0.70% of their portfolio HAMILTON, D0 1,141,0501.1m $12.2m $12.2m 0.70% New
3 Magnetar Financial LLC 0.10% of their portfolio EVANSTON, IL 1,000,0001.0m $10.7m $10.7m 0.10% Reduced -300.0k -300,000
4 AQR Arbitrage LLC 0.15% of their portfolio Greenwich, CT 974,300974.3k $10.4m $10.4m 0.15% Reduced -119.9k -119,910
5 WOLVERINE ASSET MANAGEMENT LLC 0.13% of their portfolio CHICAGO, IL 944,878944.9k $10.1m $10.1m 0.13% Reduced -306.5k -306,478
6 Meteora Capital, LLC 0.81% of their portfolio Boca Raton, FL 919,000919.0k $9.8m $9.8m 0.81% Added +662.7k +662,746
7 HIGHBRIDGE CAPITAL MANAGEMENT LLC 0.31% of their portfolio NEW YORK, NY 861,837861.8k $9.2m $9.2m 0.31% Added +823.2k +823,198
8 LMR Partners LLP 0.06% of their portfolio LONDON, X0 800,000800.0k $8.6m $8.6m 0.06% Unchanged
9 MIZUHO SECURITIES USA LLC 0.07% of their portfolio NEW YORK, NY 729,112729.1k $7.7m $7.7m 0.07% Added +328.0k +328,012
10 TENOR CAPITAL MANAGEMENT Co., L.P. 0.10% of their portfolio NEW YORK, NY 635,399635.4k $6.8m $6.8m 0.10% Unchanged
11 Alberta Investment Management Corp 0.04% of their portfolio EDMONTON, A0 600,000600.0k $6.4m $6.4m 0.04% Unchanged
12 Polar Asset Management Partners Inc. 0.11% of their portfolio TORONTO, A6 539,510539.5k $5.8m $5.8m 0.11% Reduced -60.5k -60,490
13 RIVERNORTH CAPITAL MANAGEMENT, LLC 0.26% of their portfolio WEST PALM BEACH, FL 500,000500.0k $5.4m $5.4m 0.26% Unchanged
14 PICTON MAHONEY ASSET MANAGEMENT 0.05% of their portfolio Toronto, A6 475,002475.0k $5.1m $5.1m 0.05% Unchanged
15 GLAZER CAPITAL, LLC 0.10% of their portfolio New York, NY 380,933380.9k $4.1m $4.1m 0.10% Reduced -9.3k -9,312
16 Calamos Advisors LLC 0.01% of their portfolio NAPERVILLE, IL 371,532371.5k $4.0m $4.0m 0.01% New
17 SONA ASSET MANAGEMENT (US) LLC 0.15% of their portfolio NEW YORK, NY 369,960370.0k $4.0m $4.0m 0.15% Unchanged
18 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 342,787342.8k $3.7m $3.7m 0.00% Reduced -42.2k -42,223
19 BERKLEY W R CORP 0.17% of their portfolio Greenwich, CT 322,658322.7k $3.4m $3.4m 0.17% Added +49.7k +49,708
20 CANTOR FITZGERALD, L. P. 0.03% of their portfolio NEW YORK, NY 307,700307.7k $3.3m $3.3m 0.03% New
21 Radcliffe Capital Management, L.P. 0.22% of their portfolio BALA CYNWYD, PA 271,940271.9k $2.9m $2.9m 0.22% Reduced -233.6k -233,574
22 Centiva Capital, LP 0.09% of their portfolio New York, NY 250,000250.0k $2.7m $2.7m 0.09% Added +100.0k +100,000
23 BOOTHBAY FUND MANAGEMENT, LLC 0.05% of their portfolio NEW YORK, NY 232,034232.0k $2.5m $2.5m 0.05% New
24 Shaolin Capital Management LLC 0.12% of their portfolio Miami, FL 200,760200.8k $2.1m $2.1m 0.12% Reduced -17.3k -17,334
25 Periscope Capital Inc. 0.21% of their portfolio Toronto, A6 125,000125.0k $1.3m $1.3m 0.21% Reduced -175.0k -175,000
26 Westchester Capital Management, LLC 0.07% of their portfolio VALHALLA, NY 124,328124.3k $1.3m $1.3m 0.07% Reduced -124.5k -124,524
27 MOORE CAPITAL MANAGEMENT, LP 0.02% of their portfolio NEW YORK, NY 100,000100.0k $1.1m $1.1m 0.02% Unchanged
28 Schonfeld Strategic Advisors LLC 0.01% of their portfolio NEW YORK, NY 98,63098.6k $1.1m $1.1m 0.01% Reduced -51.4k -51,371
29 Brevan Howard Capital Management LP 0.01% of their portfolio ST. HELIER, Y9 60,53360.5k $648.0k $648.0k 0.01% New
30 Yakira Capital Management, Inc. 0.19% of their portfolio Westport, CT 60,00060.0k $641.4k $641.4k 0.19% New
31 Verition Fund Management LLC 0.00% of their portfolio GREENWICH, CT 46,68746.7k $499.1k $499.1k 0.00% Reduced -122.4k -122,416
32 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 16,55416.6k $177.0k $177.0k 0.00% Unchanged
33 Clear Street Group Inc. 0.00% of their portfolio NEW YORK, NY 4,9635.0k $53.1k $53.1k 0.00% Added +3.0k +2,994
34 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 3,5133.5k $37.6k $37.6k 0.00% Reduced -433 -433
35 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 6262 $663 $663 0.00% Reduced -16 -16