BIII · Black Spade Acquisition III Co · Holdings

$10.08 +0.00 (+0.00%)

Market Cap

$231.84M

23.00M

Volume · Oct 20 42.91K Avg daily vol (3M) 201.63K

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.

Use institutional holdings through the 13F API or MCP → See every holder of BIII: 13F, 13D and 13G, insiders and funds →

Institutional holdings are being reconciled with SEC filings. Holder totals and changes may be incomplete until reconciliation finishes.

Quarter:

Holders: 40

Total Value: $137,400,567

Total Shares: 13,809,103

Institutional Ownership Trend

2 quarters

Holder Concentration

Across 40 13F filers · Δ vs Mar 31, 2026

Top Holder

8.0%

−1.7 pts

Top 5

33.9%

−7.3 pts

Top 10

56.4%

−5.5 pts

HHI

428

Broadly held−91

Who Holds BIII

Last 2 quarters through Jun 30, 2026

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: 40 filers, like-for-like change +21.4%; actively managed books +21.4%.

Holder type	Share	Filers	Change	New	Exited
Registered adviser	72.6%	28	+28.7%	8	0
Exempt adviser	3.0%	1	0.0%	0	0
Bank	0.0%	0	-100.0%	0	1
Insurer	2.0%	1	0.0%	0	0
Non-US	15.5%	4	0.0%	0	0
Unknown	6.9%	6	+76.7%	2	0

Style	Share	Filers	Change	New	Exited
Systematic-like	10.0%	6	+111.7%	2	0
Concentrated	14.2%	4	+9.6%	0	0
Diversified active	75.8%	30	+17.2%	8	1

Turnover	Share	Filers	Change	New	Exited
Medium turnover	71.4%	21	+2.9%	2	1
High turnover	27.3%	18	+137.3%	8	0
Unknown	1.3%	1	-11.3%	0	0

Holding horizon	Share	Filers	Change	New	Exited
Short horizon	46.9%	16	+23.6%	3	0
Medium horizon	17.4%	4	+14.3%	2	0
Long horizon	16.4%	6	+29.0%	1	1
Unknown	19.3%	14	+17.1%	4	0

13F book size	Share	Filers	Change	New	Exited
Under $1B	21.8%	9	+43.6%	3	0
$1B to $10B	51.3%	20	+17.2%	5	0
$10B to $100B	16.8%	8	-4.8%	2	1
$100B or more	10.1%	3	+75.8%	0	0

Client base	Share	Filers	Change	New	Exited
Individuals and high net worth	0.3%	1	new	1	0
Pooled investment vehicles	64.2%	23	+20.3%	5	0
Registered funds and BDCs	4.2%	3	+35.0%	1	0
Other investment advisers	4.0%	1	new	1	0
Unknown	27.4%	12	+5.5%	2	1

Private funds	Share	Filers	Change	New	Exited
Hedge funds	63.4%	24	+11.4%	4	0
Private equity funds	6.5%	2	+157.7%	1	0
Real estate funds	0.3%	1	new	1	0
Other private funds	4.3%	1	new	1	0
No private funds	1.1%	1	new	1	0
Unknown	24.3%	11	+6.3%	2	1

Location	Share	Filers	Change	New	Exited
United States	81.2%	34	+27.2%	9	0
Outside the US	18.8%	6	+1.4%	1	1

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

40 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

0.000% of filers hold it in their top 10

Mar 31, 2026: 0

Holders above 5%

median weight 0.078%

Mar 31, 2026: 0

Crowding

—

the issuer has more than one class of common stock, so its count is the total across classes

Private-fund advisers

—

of shares outstanding

Institutional ownership

—

the issuer has more than one class of common stock, so its count is the total across classes

Top 10 holders

56.4%

of 13F shares, Herfindahl 0.043

Active holders

+21.4%

like-for-like share change of active filers

5% stakes on record

0 13D, 2 13G (0 institutional, 1 passive, 1 exempt)

How long holders have held it value-weighted 1.9 quarters

Under 1 year 100.0% 1 to 3 years 0.000% 3 years or more 0.000% Since coverage start 0.000%

Managers in the top fifth by current three-year FundScore alpha were net buyers of $0 (0 buying, 0 selling).

Estimated Holder Cost Basis

Quarter ended Jun 30, 2026, on that quarter's share basis

Estimated, never filed: each 13F buy is costed at its quarter's average traded price and each sale keeps the average cost, so this is what holders paid on average if they traded evenly through each quarter.

Estimated avg cost

$9.91

estimated per share

Mar 31, 2026: $9.91

Quarter-end price

$9.95

implied by 13F values

Estimated gain or loss

+0.4%

price against the estimated cost

Estimated at a loss

0.000%

of costed 13F value

Estimated cost covers 100.0% of the 13F shares; positions already held when a filer's 13F history starts, or bought in a quarter without a trusted average price, have no estimate.

Shared Holders

Companies BIII's active holders also own, quarter ended Jun 30, 2026

#	Company	Shared holders	Similarity
1	LEGO Legato Merger Corp. IV	15	0.789
2	IRAB Iris Acquisition Corp II	15	0.751
3	DNMX Dynamix Corp III	17	0.724
4	TVIV Texas Ventures Acquisition IV Corp	14	0.718
5	NSTR NorthStar Earth & Space Enterprises, Inc.	16	0.694
6	IGAC Invest Green Acquisition Corp	14	0.670
7	YICC Yorkville International Capital Corp.	15	0.662
8	APMC AmperCap Acquisition Co	14	0.656
9	RNGT Range Capital Acquisition Corp II	16	0.649
10	MZYX MOZAYYX Acquisition Corp.	14	0.642

Shareholder Targets

13F filers that own its peers but not BIII, quarter ended Jun 30, 2026

Found through its holder-overlap peers: LEGO, IRAB, DNMX, TVIV, NSTR, IGAC, YICC, APMC, RNGT, MZYX, BIXI, SBXE, BWIV, SAC, JACS, RAC, CAES, BBCQ, BEBE, UAC. 121 filers in all.

#	Filer	In peers	Of book	Largest peers
1	ADAGE CAPITAL PARTNERS GP, L.L.C. Registered adviser, Diversified active	$176,018,862 12 held	0.250%	SAC, YICC, LEGO
2	D. E. Shaw & Co., Inc. Unknown, Systematic-like	$91,205,224 15 held	0.060%	JACS, RAC, SBXE
3	Polar Asset Management Partners Inc. Registered adviser, Systematic-like	$86,859,541 15 held	2.29%	MZYX, CAES, JACS
4	LMR Partners LLP Exempt adviser, Systematic-like	$83,673,173 11 held	0.940%	BBCQ, BIXI, YICC
5	METEORA CAPITAL, LLC Adviser, Diversified active	$77,589,316 10 held	7.61%	NSTR, DNMX, RAC
6	HIGHBRIDGE CAPITAL MANAGEMENT LLC Registered adviser, Diversified active	$53,607,003 9 held	3.22%	BBCQ, NSTR, JACS
7	Lineage Point Capital LP Unknown, Diversified active	$42,969,881 13 held	11.3%	BEBE, BIXI, SBXE
8	Sculptor Capital LP Registered adviser, Diversified active	$41,202,307 8 held	0.660%	APMC, SBXE, CAES
9	COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS Unknown, Diversified active	$40,378,472 12 held	0.200%	RNGT, IGAC, BIXI
10	Harraden Circle Investments, LLC Registered adviser, Diversified active	$40,254,022 6 held	6.86%	SAC, UAC, YICC

Fund Ownership of BIII by Fund Type

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	0.00%	0.00 pp	0	0
Active funds	1.96%	+0.43 pp	449,999	3
Unclassified	0.00%	0.00 pp	0	0
All registered funds	1.96%	+0.43 pp	449,999	3

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.

Quarterly Activity

vs Mar 31, 2026

New

Increased

Decreased

Sold Out

Unchanged

New and Sold Out count only filers that reported a 13F for both quarters: a first-time filer's book is not a buy, and a fund that has not filed, or withheld its positions under confidential treatment, has not sold.

Holder count: +9

Institutional value: +22.8%

Shares held: +21.4%

Top Buyers

vs Mar 31, 2026

Institution	Added	Now Holds
Mega MILLENNIUM MANAGEMENT LLC	+600,000	750,000
Mid Fort Baker Capital Management LP	+200,000	700,000
Mid StoneX Group Inc.	+79,740	104,740
Small Radcliffe Capital Management, L.P.	+19,245	369,263
Mid WOLVERINE ASSET MANAGEMENT LLC	+2,808	102,808

Top Sellers

vs Mar 31, 2026

Institution	Sold	Now Holds
Small Shaolin Capital Management LLC	−116,957	282,712
Large Clear Street Group Inc.	−22,570	177,851
Mid Virtu Financial LLC	−5,796	79,606
Large Parallax Volatility Advisers, L.P.	−1	49,999

Top New Positions

vs Mar 31, 2026

Institution	Acquired	Value (USD)
Mid SONA ASSET MANAGEMENT (US) LLC	600,000	$5,970,000
Small Wealthspring Capital LLC	551,820	$5,490,609
Mid MMCAP International Inc. SPC	250,000	$2,487,500
Small Bulldog Investors, LLP	149,997	$1,492,470
Mid CSS LLC/IL	109,803	$1,092,539

Top Sold-Out Positions

vs Mar 31, 2026

Institution	Previously Held	Last Value (USD)	Open
Large TORONTO DOMINION BANK	213,286	$2,098,734

Filter: New 10 Increased 6 Reduced 4 Sold out 1 Unchanged 20

Holder type: Registered adviser 28 Exempt adviser 1 Insurer 1 Non-US 4 Unknown 6

Showing 40 of 40

All Common Calls Puts

Compact Export CSV

Holder

Value (USD)

% of 13F

ARISTEIA CAPITAL, L.L.C.

$10,945,000

7.97%

1,100,000

TENOR CAPITAL MANAGEMENT Co., L.P.

$9,950,000

7.24%

1,000,000

Magnetar Financial LLC

$9,949,930

7.24%

999,993

HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND

$8,208,750

5.97%

825,000

AQR Arbitrage LLC

$7,566,378

5.51%

760,440

MILLENNIUM MANAGEMENT LLC

$7,462,500

5.43%

750,000

Fort Baker Capital Management LP

$6,965,000

5.07%

700,000

SONA ASSET MANAGEMENT (US) LLC

$5,970,000

4.34%

600,000

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
SONA ASSET MANAGEMENT (UK) LLP	600,000	$5,970,000	100.0%	Other

Wealthspring Capital LLC

$5,490,609

4.00%

551,820

GLAZER CAPITAL, LLC

$4,975,238

3.62%

500,024

Alberta Investment Management Corp

$4,975,000

3.62%

500,000

BNP PARIBAS ARBITRAGE, SA

$4,373,622

3.18%

439,560

Periscope Capital Inc.

$4,167,060

3.03%

418,800

PICTON MAHONEY ASSET MANAGEMENT

$3,731,250

2.72%

375,000

Radcliffe Capital Management, L.P.

$3,674,166

2.67%

369,263

First Trust Capital Management L.P.

$3,482,500

2.53%

350,000

Shaolin Capital Management LLC

$2,812,984

2.05%

282,712

WHITEBOX ADVISORS LLC

$2,748,190

2.00%

276,200

BERKLEY W R CORP

$2,724,797

1.98%

273,849

Linden Advisors LP

$2,487,500

1.81%

250,000

MMCAP International Inc. SPC

$2,487,500

1.81%

250,000

Hudson Bay Capital Management LP

$2,238,750

1.63%

225,000

Mint Tower Capital Management B.V.

$2,238,750

1.63%

225,000

TWO SIGMA INVESTMENTS, LP

$2,005,094

1.46%

201,517

Context Capital Management, LLC

$1,995,979

1.45%

200,601

MOORE CAPITAL MANAGEMENT, LP

$1,990,000

1.45%

200,000

Clear Street Group Inc.

$1,769,617

1.29%

177,851

Bulldog Investors, LLP

$1,492,470

1.09%

149,997

CSS LLC/IL

$1,092,539

0.80%

109,803

StoneX Group Inc.

$1,042,163

0.76%

104,740

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
STONEX FINANCIAL INC.	104,740	$1,042,163	100.0%	Defined

WOLVERINE ASSET MANAGEMENT LLC

$1,022,939

0.74%

102,808

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Wolverine Holdings, LLC	102,808	$1,022,939	100.0%	Defined

Verition Fund Management LLC

$995,000

0.72%

100,000

Virtu Financial LLC

$792,079

0.58%

79,606

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Virtu Americas LLC	79,606	$792,079	100.0%	Defined

RIVERNORTH CAPITAL MANAGEMENT, LLC

$777,234

0.57%

78,114

Schonfeld Strategic Advisors LLC

$771,473

0.56%

77,535

Centiva Capital, LP

$497,500

0.36%

50,000

BOOTHBAY FUND MANAGEMENT, LLC

$497,500

0.36%

50,000

Parallax Volatility Advisers, L.P.

$497,490

0.36%

49,999

Arax Advisory Partners

$407,900

0.30%

40,995

MANGROVE PARTNERS IM, LLC

$128,116

0.09%

12,876

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
TD SECURITIES (USA) LLC	213,286	$2,098,734	100.0%	Defined

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