Substantial doubt about the company's ability to continue as a going concern.
“Management has determined that the mandatory liquidation, should a Business Combination not occur, and potential subsequent dissolution, also raises substantial doubt about our ability to continue as a going concern. Based on the foregoing, these factors, among others, raise substantial doubt about the Company's ability to continue as a going concern one year from the date the 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.
Institutional holdings are being reconciled with SEC filings. Holder totals and changes may be incomplete until reconciliation finishes.
Holders:33
Total Value:$58,930,634
Total Shares:9,249,578
Holder Concentration
Across 33 13F filers
Top Holder
9.6%
of institutional value
Top 5
37.0%
of institutional value
Top 10
59.9%
of institutional value
HHI
500
Broadly held
Who Holds MCAH
Last 1 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:
33 filers,
like-for-like change —.
Holder type
Share
Filers
Change
New
Exited
Registered adviser
67.7%
16
new
16
0
Adviser
3.2%
2
new
2
0
Bank
4.4%
4
new
4
0
Insurer
2.7%
1
new
1
0
Non-US
2.0%
2
new
2
0
Unknown
19.9%
8
new
8
0
Style
Share
Filers
Change
New
Exited
Index-like
5.1%
1
new
1
0
Systematic-like
12.3%
4
new
4
0
Concentrated
2.3%
2
new
2
0
Diversified active
80.4%
26
new
26
0
Turnover
Share
Filers
Change
New
Exited
Low turnover
7.1%
4
new
4
0
Medium turnover
34.2%
13
new
13
0
High turnover
55.2%
14
new
14
0
Unknown
3.5%
2
new
2
0
Holding horizon
Share
Filers
Change
New
Exited
Short horizon
48.0%
15
new
15
0
Medium horizon
5.1%
1
new
1
0
Long horizon
18.4%
9
new
9
0
Unknown
28.5%
8
new
8
0
13F book size
Share
Filers
Change
New
Exited
Under $1B
22.5%
7
new
7
0
$1B to $10B
55.2%
16
new
16
0
$10B to $100B
13.1%
4
new
4
0
$100B or more
9.2%
6
new
6
0
Client base
Share
Filers
Change
New
Exited
Pooled investment vehicles
60.7%
14
new
14
0
Registered funds and BDCs
7.0%
2
new
2
0
Unknown
32.3%
17
new
17
0
Private funds
Share
Filers
Change
New
Exited
Hedge funds
66.1%
15
new
15
0
Other private funds
1.6%
1
new
1
0
Unknown
32.3%
17
new
17
0
Location
Share
Filers
Change
New
Exited
United States
91.1%
26
new
26
0
Outside the US
8.9%
7
new
7
0
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
31 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 0.064%
Crowding
44.7%
of shares outstanding, 95th percentile
Private-fund advisers
40.4%
of shares outstanding
Institutional ownership
65.7%
154.1% of the estimated free floatabove 100%: filers can report lent or client shares more than once
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
0.11%
+0.11 pp
9,592
1
Active funds
1.15%
+1.15 pp
100,000
1
Unclassified
0.00%
0.00 pp
0
0
All registered funds
1.27%
+1.27 pp
109,592
2
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.
