Black Hawk Acquisition Corp - Ordinary Shares, par value $0.0001 per share (the "Ordinary Shares") (BKHA) Institutional Ownership

13F Institutional Holders and Ownership History from Q2 2024 to Q4 2025

Type / Class
Equity / Ordinary Shares, par value $0.0001 per share (the "Ordinary Shares")
Symbol
BKHA on Nasdaq
Shares outstanding
4,155,155
Price per share
$11.50
All holders as of 31 Dec 2025
Q4 2025
Total 13F shares
1,933,555
Total reported value
$21,663,328
% of total 13F portfolios
0%
Share change
-10,054
Value change
-$113,061
Number of holders
20
Reported Shares, Excluding Options vs Price
Reported Value, Excluding Options
Total Investors

Significant Owners of Black Hawk Acquisition Corp - Ordinary Shares, par value $0.0001 per share (the "Ordinary Shares") (BKHA) based on Schedule 13D/G filings

Filer Ownership Change % Holdings Value Net Change Nb Shares Change % Reporting Name Report Period
MIZUHO FINANCIAL GROUP INC 8.4% -2.2% $7,987,500 -$181,050 750,000 -2.2% Mizuho Financial Group, Inc. 30 Jun 2025
WOLVERINE ASSET MANAGEMENT LLC 8.6% $3,933,412 358,888 WOLVERINE ASSET MANAGEMENT LLC 30 Sep 2025
BERKLEY W R CORP 7.4% +44% $3,453,055 -$1,722,275 308,584 -33% W. R. Berkley Corporation 30 Sep 2025
TD SECURITIES (USA) LLC 3.2% -44% $2,996,221 -$2,114,591 282,130 -41% TD SECURITIES (USA) LLC 31 Mar 2025
PROPPER KERRY 5.8% $2,687,139 240,999 Kerry Propper 30 Sep 2025
AQR CAPITAL MANAGEMENT LLC 3.4% $1,553,920 139,365 AQR Capital Management, LLC 30 Sep 2025

As of 31 Dec 2025, 20 institutional investors reported holding 1,933,555 shares of Black Hawk Acquisition Corp - Ordinary Shares, par value $0.0001 per share (the "Ordinary Shares") (BKHA). This represents 47% of the company’s total 4,155,155 outstanding shares.

Top 21 Institutional Shareholders

The largest institutional shareholders of Black Hawk Acquisition Corp - Ordinary Shares, par value $0.0001 per share (the "Ordinary Shares") (BKHA) together control 47% of the company’s outstanding shares — a level of ownership often associated with strong institutional conviction and long‑term capital commitment.

Institution Ownership % Shares Held Share Change % Portfolio % Holdings Value
MIZUHO SECURITIES USA LLC 9% 373,800 +0.01% 0.07% $4,115,583
WOLVERINE ASSET MANAGEMENT LLC 8.3% 344,590 -4% 0.06% $3,876,638
BERKLEY W R CORP 7.4% 309,134 +0.18% 0.19% $3,477,758
AQR Arbitrage LLC 3.4% 139,365 0% 0.03% $1,567,856
BOOTHBAY FUND MANAGEMENT, LLC 2.9% 120,000 0% 0.04% $1,350,000
Westchester Capital Management, LLC 2.5% 102,000 0% 0.05% $1,147,500
METEORA CAPITAL, LLC 2.4% 100,001 0% 0.09% $1,125,011
Yakira Capital Management, Inc. 2.2% 89,984 0% 0.34% $1,012,320
D. E. Shaw & Co., Inc. 1.8% 75,000 0% 0% $843,750
Warberg Asset Management LLC 1.7% 72,323 -2.6% 0.24% $813,634
Clear Street Group Inc. 1.4% 59,031 +12% 0% $664,099
Crossingbridge Advisors, LLC 1.3% 53,024 +0.26% 0.18% $596,520
Polar Asset Management Partners Inc. 0.94% 39,100 0% 0.01% $439,875
Calamos Advisors LLC 0.59% 24,591 0% 0% $276,649
GOLDMAN SACHS GROUP INC 0.26% 10,635 0% 0% $119,644
Quarry LP 0.25% 10,528 +5.3% 0.03% $118,440
SkyView Investment Advisors, LLC 0.24% 10,000 0% 0.01% $113,000
TORONTO DOMINION BANK 0% 201 0% 0% $2,261
UBS Group AG 0% 200 -61% 0% $2,250
MORGAN STANLEY 0% 48 +6.7% 0% $540
PenderFund Capital Management Ltd. 0% 0 -100% $0

Institutional Holders of Black Hawk Acquisition Corp - Ordinary Shares, par value $0.0001 per share (the "Ordinary Shares") (BKHA) across Reporting Periods

Period Reported Shares, Excl. Options Value, Excl. Options Value Change Price (Median) Investors
2025 Q4 1,933,555 $21,663,328 -$113,061 $11.25 20
2025 Q3 2,063,608 $22,875,022 -$41,033,896 $11.11 22
2025 Q2 5,869,840 $62,322,154 -$5,141,312 $10.62 28
2025 Q1 6,374,851 $67,081,509 +$1,710,143 $10.53 30
2024 Q4 6,213,223 $64,437,821 +$1,811,809 $10.38 29
2024 Q3 6,048,176 $61,883,829 +$9,405,412 $10.24 32
2024 Q2 5,038,331 $51,055,152 +$51,055,152 $10.14 24