Substantial doubt about the company's ability to continue as a going concern.
“In connection with the Company's assessment of going concern considerations in accordance with FASB ASC 205-40, "Presentation of Financial Statements – Going Concern" ("ASC 205-40"), management has determined that the Company's projected future liquidity position raises substantial doubt about the Company's ability to continue as a going concern. The Company intends to complete its initial Business Combination before the mandatory liquidation date; however, there can be no assurance that the Company will be able to consummate any Business Combination by March 1, 2028. No adjustments have been made to the carrying amounts of assets or liabilities should the Company be required to liquidate after March 1, 2028. The Company's financial statements do not include any adjustment that might be necessary if the Company is unable to continue as a going concern.
If the Company is unable to complete a business combination within the prescribed timeframe, it will be required to liquidate and dissolve. These conditions raise substantial doubt about the Company's ability to continue as a going concern for a period of one year from the date these financial statements are issued.”
Institutional ownership from SEC Form 13F filings. Investment managers with more than $100 million in U.S. equities must disclose their positions every quarter, within 45 days of quarter-end, so the holdings shown can lag the market by up to a quarter.
The Sep 30, 2026 filing window is
still open — showing the latest known positions. Funds that have not filed yet
carry their prior-quarter positions; a fund that filed without this stock counts
as sold out. Each fund's Change is measured against its own
previous reported quarter, shown in the Reported column. Pick a
completed quarter in the Quarter selector below to put every
fund on one quarter and see the stock-wide activity breakdown.
Holders:47
Total Value:$122,182,815
Total Shares:13,346,367
Institutional Ownership Trend
2 quarters
Holder Concentration
Across 47 13F filers
Top Holder
10.6%
of institutional value
Top 5
38.5%
of institutional value
Top 10
58.2%
of institutional value
HHI
474
Broadly held
Who Holds BID
Last 2 quarters through Sep 30, 2026 (filing window open)
Each kind of 13F filer's share of the common shares 13F filers report. Holder type comes from regulatory
records, never the filer's name; style, turnover and horizon are measured from each filer's own 13F book.
The quarter selector does not change this card.
Jun 30, 2026, the newest closed quarter:
47 filers,
like-for-like change —.
Holder type
Share
Filers
Change
New
Exited
Registered adviser
66.5%
28
new
28
0
Exempt adviser
9.4%
2
new
2
0
Adviser
1.8%
2
new
2
0
Bank
4.0%
2
new
2
0
Broker-dealer
1.9%
1
new
1
0
Non-US
7.4%
2
new
2
0
Unknown
9.0%
10
new
10
0
Style
Share
Filers
Change
New
Exited
Index-like
0.2%
1
new
1
0
Systematic-like
6.4%
3
new
3
0
Concentrated
14.9%
5
new
5
0
Diversified active
78.4%
38
new
38
0
Turnover
Share
Filers
Change
New
Exited
Low turnover
2.3%
3
new
3
0
Medium turnover
51.8%
20
new
20
0
High turnover
39.3%
19
new
19
0
Unknown
6.5%
5
new
5
0
Holding horizon
Share
Filers
Change
New
Exited
Short horizon
44.4%
21
new
21
0
Medium horizon
22.7%
6
new
6
0
Long horizon
12.8%
8
new
8
0
Unknown
20.1%
12
new
12
0
13F book size
Share
Filers
Change
New
Exited
Under $1B
13.0%
13
new
13
0
$1B to $10B
50.1%
22
new
22
0
$10B to $100B
27.7%
8
new
8
0
$100B or more
9.2%
4
new
4
0
Client base
Share
Filers
Change
New
Exited
Individuals and high net worth
0.5%
2
new
2
0
Pooled investment vehicles
56.7%
20
new
20
0
Registered funds and BDCs
6.4%
5
new
5
0
Other investment advisers
2.9%
1
new
1
0
Unknown
33.5%
19
new
19
0
Private funds
Share
Filers
Change
New
Exited
Hedge funds
57.5%
22
new
22
0
Private equity funds
3.5%
3
new
3
0
Other private funds
5.3%
1
new
1
0
Private funds, type not stated
7.5%
1
new
1
0
No private funds
2.2%
3
new
3
0
Unknown
24.1%
17
new
17
0
Location
Share
Filers
Change
New
Exited
United States
77.9%
38
new
38
0
Outside the US
22.1%
9
new
9
0
The Sep 30, 2026 filing window is still open, so its
bar carries the Jun 30, 2026 positions of filers that have not filed yet.
How the mix is measured
Shares are 13F common shares restated to today's split basis; options and principal amounts are left out.
The change compares only filers with a 13F in both quarters and keeps each filer in its bucket of the later
quarter on both sides; a filer that continues under a new CIK is compared through its successor. Holder type
comes from each filer's current regulatory profile; client base and private funds come from the Form ADV roster
current at each quarter end (rosters from December 2019, so an earlier quarter reads Unknown). Style, turnover, horizon and
book size are measured from each filer's 13F book in the newest measured quarter, and Not measured means none
was. Actively managed books are those measured systematic-like, concentrated or diversified active.
Conviction and Crowding
47 13F filers, quarter ended Jun 30, 2026
Measured across every 13F filer's common-share book once the quarter's filing window closed. Crowding counts
filers with high turnover or that advise private funds on Form ADV.
Conviction holders
0
0.000% of filers hold it in their top 10
Holders above 5%
0
median weight 0.061%
Crowding
—
no cover-page share count is dated within about a year of the quarter end
Private-fund advisers
—
of shares outstanding
Institutional ownership
—
no cover-page share count is dated within about a year of the quarter end
Registered funds' Form N-PORT reports for the quarter ended Jun 30, 2026
Index funds and index ETFs hold 0.00% of shares outstanding.
Fund type
Of shares outstanding
Change
Shares
Funds
Index funds
0.00%
0.00 pp
0
0
Index ETFs
0.00%
0.00 pp
0
0
Active ETFs
0.14%
+0.14 pp
26,923
1
Active funds
0.91%
+0.91 pp
176,300
4
Unclassified
0.00%
0.00 pp
0
0
All registered funds
1.05%
+1.05 pp
203,223
5
How fund types are measured
Each fund series counts once, with its latest Form N-PORT report dated inside the quarter; only long share
positions count, restated to today's split basis. The fund type is the series' latest Form N-CEN answer on or
before the quarter end (the index-fund box and the exchange-traded flag), never its name. Unclassified funds have
no usable N-CEN; unit investment trusts are among them, so index ownership is a floor. Funds sit inside their
advisers' 13F reports, so these shares overlap the 13F figures and are never added to them.
