Substantial doubt about the company's ability to continue as a going concern.
“management has determined that if the Company is unsuccessful in consummating an initial business combination within the prescribed period of time from the closing of the IPO, the requirement that the Company cease all operations, redeem the public shares and thereafter liquidate and dissolve raises substantial doubt about the ability to continue as a going concern.”
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.
Some SEC filings for this period have not finished importing. Holder totals and changes may be incomplete; these filings remain queued for recovery.
Holders:20
Total Value:$4,492,012
Total Shares:5,200,809
Institutional Ownership Trend
7 quarters
Holder Concentration
Across 20 13F filers
· Δ vs Mar 31, 2026
Top Holder
41.5%
+12.2 pts
Top 5
96.6%
+7.4 pts
Top 10
99.4%
+0.0 pts
HHI
3,116
Highly concentrated+1,279
Who Holds RDAC
Last 7 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.
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
7 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
Mar 31, 2026: 0
Holders above 5%
0
median weight 0.000%
Mar 31, 2026: 0
Crowding
15.9%
of shares outstanding, not ranked: fewer than 10 13F filers, too few to rank
How long holders have held itvalue-weighted 6.9 quarters
Under 1 year 0.321%1 to 3 years 99.7%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
$7.39
estimated per share
Quarter-end price
$3.81
implied by 13F values
Estimated gain or loss
-48.5%
price against the estimated cost
Estimated at a loss
100.0%
of costed 13F value
Estimated cost covers 0.226% 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 RDAC's active holders also own, quarter ended Dec 31, 2025
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.
