US Activist Hedge Fund Institutional SEC 13D 13G — June 26, 2026

Activist & Institutional Activity

By Gunpowder Editorial ·

21 high priority 15 medium priority 36 total filings analysed

Executive Summary

This digest of 36 activist and institutional filings reveals a bifurcated market where aggressive insider accumulation and M&A activity in select small/mid-caps contrast with notable insider profit-taking and passive stake disclosures. The most critical development is the proposed $3.39/share take-private of Anghami by its majority owner OSN (71.3% stake), a high-conviction move that could set a floor for the stock.

In the SPAC space, Churchill Capital XI's definitive merger with Agility Robotics, backed by a $200M PIPE, signals strong institutional appetite for AI/robotics. A significant pattern of passive institutional accumulation is evident in Teamshares Inc., where four separate funds (Khosla, QED, USV, Spark) disclosed stakes totaling ~29.4%, suggesting a broad consensus on the company's post-SPAC value. Conversely, several insiders are reducing exposure: RA Capital sold ~20% of its Werewolf Therapeutics stake at distressed prices ($0.32-$0.37), and BVF Partners sold $174M worth of Kymera Therapeutics shares at $106.50. A governance battle is escalating at Power REIT, where preferred shareholders are demanding a special meeting after six quarters of unpaid dividends. The data shows a clear trend of activist investors using non-binding proposals and formal demands to unlock value, while passive investors are building positions in de-SPACed entities.

Materiality, sentiment, and priority are scored by Gunpowder’s analysis pipeline. How we score filings →

Filing types in this digest: Schedule 13D · Schedule 13G

Tracking the trend? Catch up on the prior US Activist Hedge Fund Institutional SEC 13D 13G digest from June 18, 2026.

Investment Signals (12)

  • Anghami (BULLISH)

    Majority owner OSN (71.3% stake) proposes to take company private at $3.39/share cash, a non-binding offer with no financing condition, signaling strong conviction and potential 100% premium to market if deal closes

  • Churchill Capital XI/Agility Robotics (BULLISH)

    Definitive merger with Agility Robotics plus $200M PIPE at $10.00/share; sponsor Michael Klein holds 25.7% with a 180-day lock-up, aligning incentives for a successful close

  • Teamshares Inc. (BULLISH)

    Four passive institutional investors (Khosla 10.4%, QED 8.3%, USV 5.6%, Spark 5.1%) collectively hold ~29.4% post-SPAC, indicating strong institutional validation of the business model

  • Majority shareholder group (40.8% stake) bought $1.8M in open-market ADSs over 14 days in June, a clear signal of insider confidence at current prices

  • Activist group AO Partners (31.88% stake) believes stock is undervalued and intends to influence policies, but has pledged 983,374 shares as collateral—a risk if margin calls occur

  • BVF Partners sold 1.63M shares at $106.50 for ~$174M, reducing stake to 6.3%; a massive insider sale that could signal peak valuation or portfolio rebalancing

  • RA Capital sold 738,565 shares (20% of its stake) at distressed prices ($0.32-$0.37), a clear vote of no confidence in near-term prospects

  • Millstreet Capital sold 499,006 shares ($41M) at $82-$85, reducing its 12.14% stake; profit-taking after a strong run could indicate limited upside view

  • Beauty Ventures LLC completely exited its direct holdings (9.3M shares) via liquidation, a total divestment that may overhang the stock

  • Paradigm BioCapital disclosed a new 5.1% passive stake (5.6M shares), a fresh vote of confidence in the biotech's pipeline

  • Eclipse Ventures entities hold 5.2% stake with no change from original filing, indicating stable long-term backing for the AI chip company

  • Whitebox Advisors reduced stake from 9.1% to 8.5% in 11 days, a subtle but notable reduction in a volatile solar name

Risk Flags (10)

Opportunities (10)

  • OSN's $3.39/share cash offer with no financing condition creates a potential arbitrage opportunity; if deal closes, current price offers a ~15-20% spread

  • Churchill Capital XI/Agility Robotics (OPPORTUNITY)

    $200M PIPE at $10.00/share and 25.7% insider ownership with lock-up provide downside protection; AI robotics exposure at SPAC valuation

  • Teamshares Inc./Institutional Accumulation (OPPORTUNITY)

    Four top-tier VCs (Khosla, QED, USV, Spark) hold 29.4% combined; passive filings suggest they see significant upside in this de-SPACed company

  • Majority shareholder spent $1.8M buying shares over 14 days; at 40.8% ownership, they have strong incentive to drive value

  • Paradigm BioCapital's new 5.1% passive stake signals confidence in the biotech's pipeline; potential catalyst from upcoming data readouts

  • Eclipse Ventures holds 5.2% with no recent sales; as an AI chip company, it could benefit from continued AI infrastructure spending

  • AO Partners (31.88%) believes stock is undervalued and plans to influence policies; activist pressure could unlock value despite pledged collateral risk

  • Preferred shares trading at ~$9.75 vs. likely liquidation preference; if governance dispute resolves, significant upside exists

  • Millennium Management's 5.1% stake is a fresh vote of confidence; as a passive filer, they see value without seeking control

  • CVI Investments' 5.5% stake comes after a June 2026 offering; could indicate confidence in the company's capital raise and pipeline

Sector Themes (6)

  • SPAC De-SPAC Accumulation

    Four institutional investors (Khosla, QED, USV, Spark) filed passive 13Gs for Teamshares Inc. post-SPAC, collectively holding 29.4%; this pattern suggests institutional investors are selectively backing de-SPACed companies with strong fundamentals

  • Biotech Insider Profit-Taking

    Two major healthcare-focused funds (RA Capital, BVF Partners) sold significant stakes in Werewolf Therapeutics and Kymera Therapeutics respectively, totaling ~$175M; this could signal a sector-wide de-risking ahead of FDA decisions or capital market volatility

  • Activist Governance Battles Intensify

    Power REIT's preferred shareholder demand for a special meeting and Pro-Dex's activist group (31.88%) pushing for policy changes indicate a rising trend of minority shareholders using formal mechanisms to force board changes and capital returns

  • Majority Owner Take-Private Proposals

    Anghami's majority owner (71.3%) proposing a take-private at $3.39/share reflects a growing trend of controlling shareholders seeking to acquire public float at perceived discounts, potentially signaling undervaluation in small-cap tech

  • Passive vs. Active Filing Divergence

    The digest shows a clear split: 13G passive filings (Teamshares, Viridian, LENZ, CervoMed) indicate institutional accumulation without control intent, while 13D active filings (Anghami, Power REIT, Pro-Dex) signal governance pressure; this suggests a two-tier market where passive investors back growth stories while activists target value traps

  • Concentrated Insider Ownership as Double-Edged Sword

    Multiple filings show insiders with >30% stakes (Anghami 71.3%, Niu 40.8%, Pro-Dex 31.88%, Indaptus 31.51%); while this aligns incentives, it also creates liquidity risk if these holders need to sell or pledge shares

Watch List (8)

  • Watch for definitive agreement negotiation; if deal fails, stock could drop 50%+; if successful, offers 15-20% arbitrage spread

  • Churchill Capital XI/Agility Robotics Merger
    👁

    Watch for shareholder vote on merger with Agility Robotics; $200M PIPE at $10.00 provides floor; lock-up expiration 180 days post-close

  • Watch for response from independent trustees (Susman, Haynes, D'Aguilar) to preferred shareholder demand; potential for board expansion or litigation

  • Watch for further 13D filings; if RA Capital continues selling at distressed prices, could signal bankruptcy risk or capital structure issues

  • Watch for AO Partners' next steps in influencing company policies; pledged shares (983K) create margin call risk if stock declines

  • Watch for additional 13D filings; BVF sold $174M in one day; any further sales could pressure the stock

  • Teamshares Inc./Lock-Up Expirations
    👁

    Watch for lock-up expirations from SPAC merger; four institutional holders (29.4%) could create selling pressure if they reduce positions

  • Watch for additional capital raises; three insiders saw dilution from June 17 private placement; further raises could push stock lower

Filing Analyses (36)
Anghami Inc SC 13D/A neutral materiality 9/10

26-06-2026

OSN Streaming Ltd and its affiliates, collectively owning 71.27% of Anghami Inc, submitted a preliminary non-binding proposal on June 24, 2026 to acquire all outstanding ordinary shares not already owned by them for $3.39 per share in cash. The proposal is subject to negotiation of a definitive agreement and no binding commitment exists yet. The filing does not disclose any financial performance metrics, so no period-over-period comparisons are available.

  • · The proposal is non-binding and may be modified or withdrawn at any time.
  • · No financing condition is contemplated for the proposed acquisition; funding would come from OSN Streaming's shareholders and affiliates.
  • · The reporting persons include OSN Streaming Ltd, OSN Streaming Holding Limited, Panther Media Holding Limited, Panther Media Group Limited, and Kuwait Projects Company (Holding) K.S.C.P.
  • · The proposal was submitted to Anghami's board of directors on June 24, 2026.
  • · The filing is Amendment No. 9 to the original Schedule 13D filed on April 8, 2024.
Anghami Inc SC 13D/A mixed materiality 9/10

26-06-2026

Warner Bros. Discovery, Inc. (WBD) and its wholly-owned subsidiary Dplay Entertainment Limited filed an amended Schedule 13D disclosing that OSN Streaming Limited, in which WBD holds a 19.84% stake, submitted a preliminary non-binding proposal on June 24, 2026 to acquire all outstanding Anghami Inc. ordinary shares not already owned by OSN Streaming for $3.39 per share in cash. The Reporting Persons beneficially own 7,417,345 ordinary shares of Anghami (including warrants), representing 71.3% of the total shares outstanding on a diluted basis. However, the proposal is non-binding, subject to negotiation of definitive agreements, and may be modified or withdrawn at any time, with no assurance that any transaction will be consummated.

  • · The proposal does not contemplate a financing condition; funding would come from equity or other financing from OSN Streaming's shareholders, including WBD.
  • · The proposal is subject to negotiation of definitive agreements; no binding commitment exists yet.
  • · The Reporting Persons reserve the right to modify or withdraw the proposal at any time, subject to the Shareholders' Agreement.
  • · The proposal may lead to delisting of Anghami's ordinary shares from the Nasdaq Capital Market.
  • · During the 60 days preceding the filing, none of the Reporting Persons effected any transactions in Anghami ordinary shares.
  • · The percentage ownership calculation excludes other outstanding warrants or convertible notes held by other persons.
Waldencast plc SC 13D/A negative materiality 8/10

26-06-2026

Waldencast Long-Term Capital LLC and Beauty Ventures LLC filed an amended Schedule 13D disclosing the disposition of 9,309,200 Class A Shares and 3,103,067 Private Placement Warrants on June 24, 2026, in connection with the winding up and liquidation of Beauty Ventures LLC. Following the distribution, Beauty Ventures LLC now holds 0 Class A Shares and 0 Private Placement Warrants, representing a complete exit from its direct holdings in Waldencast plc.

  • · The disposition was completed on June 24, 2026, pursuant to a winding up and liquidation of Beauty Ventures LLC.
  • · The Class A Shares outstanding count of 118,239,889 is based on the Issuer's Form 20-F filed on March 13, 2026.
  • · No transactions in Class A Shares were effected by the Reporting Persons during the past 60 days other than the disclosed disposition.
  • · No other person is known to have the right to receive dividends or proceeds from the sale of the Issuer's securities beneficially owned by the Reporting Persons.
Viridian Therapeutics, Inc.\DE SC 13G neutral materiality 5/10

26-06-2026

Paradigm BioCapital Advisors LP and related entities filed a Schedule 13G on June 26, 2026, disclosing beneficial ownership of 5,633,788 shares of Viridian Therapeutics, Inc. common stock, representing a 5.1% stake. The filing reveals that a private investment fund managed by the Adviser (Paradigm BioCapital International Fund Ltd.) holds 4,942,532 shares (4.5%), with additional shares held in separately managed accounts. The Adviser, its GP, and Dr. Senai Asefaw disclaim beneficial ownership except for the shares directly owned.

  • · The filing date of event (beneficial ownership as of) is June 18, 2026.
  • · The outstanding share count used for percentage calculations is 110,427,682 as of May 11, 2026, after an equity offering.
  • · Paradigm BioCapital Advisors GP LLC and Senai Asefaw are also deemed to beneficially own the same 5,633,788 shares.
  • · The Fund's principal office is at Walkers, 190 Elgin Avenue, George Town, Grand Cayman, Cayman Islands.
  • · Each reporting person disclaims beneficial ownership of shares other than those directly owned.
  • · The filing is made pursuant to Rule 13d-1(c), indicating passive investment intent.
  • · The Adviser manages separately managed accounts in addition to the Fund.
Cartesian Growth Corp III SC 13D neutral materiality 6/10

26-06-2026

WAVE Equity Fund, L.P. and affiliated entities filed a Schedule 13D disclosing beneficial ownership of 10.7% of Factorial Energy Inc. Class A Common Stock following the closing of the business combination with Cartesian Growth Corp III on June 5, 2026. The filing details that the three managers (Mark Robinson, Praveen Sahay, and U. Haskell Crocker) each share voting and investment power equally, with no single individual exercising sole control. All shares are held for investment purposes and are being registered for resale via a Form S-1.

  • · The business combination closed on June 5, 2026, converting the company from Cartesian Growth Corp III to Factorial Energy Inc.
  • · Shares held by the Funds are being registered for resale via a Form S-1.
  • · No additional cash consideration was paid by the Funds to acquire the shares at closing.
  • · The Funds' pre-existing equity interests were acquired using capital contributions from limited partners/members.
  • · None of the Reporting Persons holds sole voting or dispositive power over any shares.
  • · All Reporting Persons disclaim beneficial ownership except to the extent of their pecuniary interest.
DIEBOLD NIXDORF, Inc SC 13D/A neutral materiality 7/10

26-06-2026

Millstreet Capital Management LLC filed a Schedule 13D/A disclosing a 12.14% beneficial ownership stake in Diebold Nixdorf, Inc. as of June 24, 2026. The filing reports open-market sales of 499,006 common shares between June 8 and June 25, 2026, at prices ranging from approximately $82.06 to $85.06 per share, reducing Millstreet's position but retaining majority holder status.

  • · Sales occurred on six separate dates between June 8 and June 25, 2026.
  • · Largest single-day sale was 228,723 shares on June 24, 2026 at $83.9496 per share.
  • · The sales reduced Millstreet's position from a previously higher level, but the exact prior percentage was not disclosed.
  • · Millstreet Credit Fund LP is the entity that has the right to receive dividends or proceeds from the sale of >5% of outstanding shares.
RYVYL Inc. SC 13D neutral materiality 8/10

26-06-2026

On May 12, 2026, RTB Digital, Inc. (formerly RYVYL Inc.) completed a merger with Legacy RTB, and Chairman James Lamar Walton Comer reported beneficial ownership of 4,504,276 shares of common stock, representing 31.7% of the outstanding shares. The filing notes lock-up agreements for insiders and large shareholders, restricting sales for 12 months with a gradual dribble-out over the following nine months.

  • · Merger closed on May 12, 2026; each Legacy RTB share converted into 0.5305 shares of Issuer common stock.
  • · Insiders and larger shareholders are subject to a 12-month lock-up, with a dribble-out period of an additional nine months.
  • · Reporting Person holds shares through controlled entities: Media Innovation Fund I LLC (53,048 shares) and Comer Trading, LLC (3,727,937 shares).
  • · Reporting Person also holds 698,978 shares underlying warrants and 24,313 shares underlying stock options exercisable within 60 days.
  • · Excluded from beneficial ownership are 48,628 shares underlying unvested equity awards not exercisable within 60 days.
Live Oak Acquisition Corp. V SC 13G neutral materiality 5/10

26-06-2026

QED Growth Fund, LP disclosed a 8.3% beneficial ownership stake in Teamshares Inc. (formerly Live Oak Acquisition Corp. V), holding 5,992,667 shares of common stock as of June 18, 2026. The filing is a Schedule 13G, indicating passive investment intent.

  • · The filing is made under Rule 13d-1(c), indicating passive investment.
  • · QED Partners Growth, LLC is the general partner of QED Growth Fund, LP and may be deemed to share voting and dispositive power.
  • · Nigel Morris is the managing member of QED Partners Growth, LLC and may be deemed to share voting and dispositive power.
  • · Each reporting person disclaims beneficial ownership of the reported shares except to the extent of their pecuniary interest.
Live Oak Acquisition Corp. V SC 13G neutral materiality 5/10

26-06-2026

USV 2019, LP and affiliated funds filed a Schedule 13G with the SEC on June 26, 2026, disclosing beneficial ownership of 4,028,647 shares of Teamshares Inc. (formerly Live Oak Acquisition Corp. V) common stock, representing approximately 5.6% of the 71,985,774 shares outstanding as of June 18, 2026. The filing is a passive investment statement under Rule 13d-1(c), indicating the securities were not acquired to influence control of the issuer.

  • · The filing is a Schedule 13G (passive investment) under Rule 13d-1(c), not a 13D (activist filing).
  • · USV 2019, LP holds the largest block: 2,271,932 shares (3.2% of outstanding).
  • · USV Opportunity 2022, LP holds 1,543,615 shares (2.1%).
  • · Other funds hold smaller stakes: USV Bundled 2022, LP (91,920 shares, 0.1%), USV Investors 2019, LP (106,739 shares, 0.1%), USV Bundled Investors 2022, LP (14,441 shares, 0.02%).
  • · The general partner entities (USV 2019 GP, LLC, USV Opportunity 2022 GP, LLC, USV Bundled 2022 GP, LLC) disclaim beneficial ownership of the shares held by their respective funds.
  • · The issuer changed its name from Live Oak Acquisition Corp. V to Teamshares Inc. on December 16, 2024.
Live Oak Acquisition Corp. V SC 13G neutral materiality 7/10

26-06-2026

Khosla Ventures VII, L.P. and affiliated entities, including Vinod Khosla, filed a Schedule 13G disclosing beneficial ownership of 7,498,171 shares of Teamshares Inc. (formerly Live Oak Acquisition Corp. V) common stock, representing 10.4% of the 71,985,774 shares outstanding as of June 18, 2026. The filing is a passive investment under Rule 13d-1(c), indicating the shares were not acquired to influence control of the issuer.

  • · The filing is made under Rule 13d-1(c) as a passive investment, not intended to change or influence control of the issuer.
  • · Khosla Ventures VII, LP holds 5,298,177 shares (7.4%), and Khosla Ventures Opportunity I, LP holds 2,199,994 shares (3.1%).
  • · Vinod Khosla and VK Services, LLC are deemed to share voting and dispositive power over all 7,498,171 shares but disclaim beneficial ownership.
  • · The issuer's former name was Live Oak Acquisition Corp. V, changed on December 16, 2024.
  • · The filing date is June 26, 2026, with the event date of change as June 18, 2026.
Churchill Capital Corp XI SC 13D/A positive materiality 9/10

26-06-2026

Churchill Capital Corp XI (CCXI) filed an amended Schedule 13D disclosing that Churchill Sponsor XI LLC, M. Klein Associates, Inc., and Michael Klein beneficially own 14,300,000 ordinary shares (25.7% of the total) as of June 24, 2026. The filing also details a definitive merger agreement with Agility Robotics, Inc., under which a wholly-owned subsidiary will merge into Agility, with Agility surviving as a wholly-owned subsidiary of Churchill. Concurrently, Churchill entered into subscription agreements for a $200 million PIPE investment at $10.00 per share to help finance the transaction.

  • · The beneficial ownership includes 500,000 Class A ordinary shares and 13,800,000 Class B ordinary shares, which convert automatically to Class A on a one-for-one basis at the time of the initial business combination.
  • · Michael Klein is the sole stockholder of M. Klein Associates, Inc., which is the managing member of Churchill Sponsor XI LLC, and may be deemed to have beneficial ownership of the reported securities, though he disclaims such ownership except for any pecuniary interest.
  • · The A&R Registration Rights Agreement includes a lock-up for New Holders until the earlier of 180 days after Closing or when the VWAP equals or exceeds $12.00 per share for any 15 trading days within that 180-day period.
  • · The Sponsor and Insiders have agreed to vote all shares in favor of the Merger Agreement and Transactions, and not to redeem any shares in connection with the stockholder approvals.
  • · The Subscription Agreements will terminate upon the earlier of termination of the Merger Agreement, mutual written agreement, or January 31, 2027 (with subscriber option to extend if the Merger Agreement is extended).
Semnur Pharmaceuticals, Inc. SC 13D/A neutral materiality 6/10

26-06-2026

Scilex Holding Company and its subsidiaries distributed 7,034,737 shares of Semnur Pharmaceuticals common stock as a dividend to Scilex shareholders on June 15, 2026. Post-distribution, Scilex entities collectively beneficially own 181,520,112 common shares (78.85% of class) and hold 5,423,606 shares of Series A Preferred Stock representing 100% of that class, giving them 79.34% total voting power. The filing also reveals that Scilex transferred 554,849 common shares to a third party after the business combination.

  • · The dividend distribution was made to holders of Scilex common stock and other eligible equity securities as of the record date of June 1, 2026.
  • · SHC transferred 554,849 shares of common stock to a third party after the business combination, reducing its direct holdings.
  • · The 5,423,606 shares of Series A Preferred Stock are not convertible into common stock but vote together with common stock on an as-converted basis.
  • · No other transactions in common stock were effected by the reporting persons in the 60 days preceding the filing.
Apollo Origination II (Levered) Capital Trust SC 13D/A neutral materiality 6/10

26-06-2026

Apollo Principal Holdings B GP, LLC and related entities filed Amendment No. 4 to Schedule 13D, reporting that on June 24, 2026, Apollo Direct Lending Fund II (Levered AIV), L.P. purchased 1,527,300.4964 common shares at $26.19 per share for an aggregate of $40,000,000, increasing its beneficial ownership to 32,067,124.196 shares (100% of the outstanding common shares of Apollo Origination II (Levered) Capital Trust). The filing also notes that $255,000,000 of the $800,000,000 total capital commitment has been drawn down to date.

  • · The filing is Amendment No. 4 to Schedule 13D, originally filed September 15, 2025.
  • · The common shares have a par value of $0.001 per share.
  • · The issuer is a Delaware statutory trust registered under the Investment Company Act of 1940.
  • · The purchase price per share was $26.19, based on NAV finalized on June 24, 2026.
  • · The reporting persons disclaim beneficial ownership and any group status.
  • · No transactions in common shares were effected by reporting persons in the past 60 days except as disclosed.
  • · The Subscription Agreement allows for additional purchases up to the remaining $545,000,000 of capital commitment.
  • · Transfer of common shares is subject to substantial restrictions under the trust's declaration and subscription agreement.
Volato Group, Inc. SC 13G neutral materiality 6/10

26-06-2026

Catheter Precision, Inc. disclosed a 7.5% beneficial ownership stake in Volato Group, Inc. as of June 18, 2026, acquiring 2,941,176 shares of common stock via a Securities Purchase Agreement dated June 7, 2026. The filing is a Schedule 13G, indicating passive investment intent.

  • · The purchase agreement was dated June 7, 2026, with closing on June 18, 2026.
  • · The filing is made under Rule 13d-1(c), indicating passive investment.
  • · The issuer's outstanding shares count of 39,336,982 is based on a Form S-3 filed on June 18, 2026.
LENZ Therapeutics, Inc. SC 13G neutral materiality 6/10

26-06-2026

Millennium Management LLC, together with Millennium Group Management LLC and Israel A. Englander, disclosed a 5.1% beneficial ownership stake in LENZ Therapeutics, Inc. as of June 23, 2026, holding 1,603,512 shares of common stock. The filing is a Schedule 13G under Rule 13d-1(c), indicating the shares were acquired in the ordinary course of business and not to influence control. This passive stake signals that a major investment firm now holds a material position in LENZ.

  • · The shares have a par value of $0.00001 per share.
  • · The filing was made under Rule 13d-1(c) as a passive investment, not with the purpose of changing or influencing control.
  • · The joint filing agreement was signed on June 25, 2026.
  • · Millennium Management LLC is organized in Delaware.
  • · Israel A. Englander is the sole voting trustee of the managing member of Millennium Group Management LLC.
Apollo Origination II (UL) Capital Trust SC 13D/A neutral materiality 5/10

26-06-2026

Apollo Direct Lending Fund II (Unlevered AIV), L.P. and related entities filed Amendment No. 6 to their Schedule 13D, reporting beneficial ownership of 28,069,111.38 common shares (100% of outstanding) in Apollo Origination II (UL) Capital Trust. On June 24, 2026, the fund purchased 1,146,788.99 shares at $26.16 per share for $30 million via a capital drawdown. Total capital commitments under the Subscription Agreement are up to $800 million, of which $258 million has been drawn to date.

  • · The filing is Amendment No. 6 to Schedule 13D, originally filed April 8, 2025.
  • · The purchase price per share in the June 24 drawdown was $26.16.
  • · The issuer is a Delaware statutory trust registered under the Investment Company Act of 1940.
  • · Reporting persons disclaim beneficial ownership and any group status.
  • · No other transactions in common shares were effected by reporting persons in the past 60 days.
  • · Common shares are subject to substantial transfer restrictions under the trust declaration and subscription agreement.
Cerebras Systems Inc. SC 13D/A neutral materiality 5/10

26-06-2026

Eclipse Ventures entities and Lior Susan filed an amended Schedule 13D disclosing aggregate beneficial ownership of 11,580,218 shares of Cerebras Systems Class A common stock, representing 5.2% of total common shares outstanding. The filing updates ownership details as of June 25, 2026, with no change in aggregate ownership percentage from the original filing.

  • · The filing is Amendment No. 1 to the original Schedule 13D filed on May 22, 2026.
  • · Lior Susan directly holds 92,973 shares and an additional 40,975 shares via an estate-planning vehicle.
  • · Eclipse Continuity Fund I holds 680,305 shares (0.3%), Eclipse Ventures Fund I holds 4,689,870 shares (2.1%), Eclipse SPV II holds 5,566,197 shares (2.5%), and Eclipse SPV XIII holds 509,898 shares (0.2%).
  • · Class B shares carry 20 votes per share, while Class A shares carry 1 vote per share.
Zepp Health Corp SC 13G neutral materiality 5/10

26-06-2026

Morgan Stanley filed a Schedule 13G with the SEC on June 26, 2026, disclosing beneficial ownership of 8,472,224 Class A Ordinary Shares (or American Depositary Receipts) in Zepp Health Corp, representing a 7.5% stake as of September 30, 2025. The filing indicates the shares were acquired in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

  • · Filing type: Schedule 13G (passive investment, not activist)
  • · Filing date: June 26, 2026
  • · Beneficial ownership date: September 30, 2025
  • · Morgan Stanley's business address: 1585 Broadway, New York, NY 10036
  • · Morgan Stanley is a Delaware corporation
  • · The filing was made under Rule 13d-1(b) (institutional investor exemption)
  • · Morgan Stanley disclaims beneficial ownership of securities held by certain operating units per SEC Release No. 34-39538
Werewolf Therapeutics, Inc. SC 13D/A negative materiality 8/10

26-06-2026

RA Capital Management and affiliated entities filed a Schedule 13D/A disclosing aggregate beneficial ownership of 2,915,742 shares (6.0%) of Werewolf Therapeutics as of June 24, 2026. Between June 23-26, 2026, the Fund and Nexus Fund II sold a total of 738,565 shares at weighted average prices ranging from $0.32 to $0.37 per share, reducing their stake from a prior higher level.

  • · The filing is Amendment No. 11 to the original Schedule 13D filed on May 6, 2021.
  • · RA Capital Management serves as investment adviser for the Fund and Nexus Fund II and has sole voting and dispositive power over their shares.
  • · The Fund and Nexus Fund II disclaim beneficial ownership of the securities they hold due to delegation of voting and investment power to RA Capital.
  • · Sales occurred at weighted average prices between $0.32 and $0.37 per share, with the lowest price on June 26 ($0.32).
  • · No other transactions were reported since the most recent amendment.
Live Oak Acquisition Corp. V SC 13G neutral materiality 5/10

26-06-2026

Spark Capital Growth Fund III, L.P. and affiliated entities filed a Schedule 13G disclosing beneficial ownership of 3,645,439 shares of Teamshares Inc. (formerly Live Oak Acquisition Corp. V) common stock, representing 5.1% of the 71,985,774 shares outstanding as of June 18, 2026. The filing is a passive investment disclosure under Rule 13d-1(c), indicating the shares were not acquired to influence control of the issuer.

  • · The filing is a Schedule 13G (passive investment disclosure), not a 13D (activist filing).
  • · Spark Growth Management Partners III, LLC serves as the general partner of both funds and holds voting and dispositive power over the shares.
  • · Each of the managing members disclaims beneficial ownership of the reported shares.
  • · The issuer's common stock has a par value of $0.0001 per share.
  • · The filing date is June 26, 2026, with the event date of June 18, 2026.
WaterBridge Infrastructure LLC SC 13G/A neutral materiality 7/10

26-06-2026

An amended Schedule 13G filing reveals that David Capobianco and his affiliated entities, including Five Point Energy GP III, collectively control 44.2% of WaterBridge Infrastructure LLC's outstanding Class A shares (or 52.1% when including convertible securities). However, on a fully diluted basis assuming all 71,976,138 OpCo Units are redeemed, the reporting persons' aggregate ownership drops to 43.5%. The filing also notes that 4,464,012 new Class A Shares were issued in June 2026 upon redemption of Class B shares and OpCo units.

  • · The filing is an amendment (13G/A) with a date of change of June 26, 2026.
  • · David Capobianco is a U.S. citizen; all other reporting persons are Delaware entities.
  • · Control structure: WaterBridge Resources LLC manages WBR Holdings; WaterBridge NDB LLC manages NDB Holdings; Desert Holdings board is controlled by GP III funds.
  • · The filing incorporates by reference a Joint Filing Agreement from November 14, 2025.
PRO DEX INC SC 13D/A neutral materiality 8/10

26-06-2026

Nicholas J. Swenson and related entities (AO Partners Group) filed an amended Schedule 13D disclosing aggregate beneficial ownership of 31.88% of Pro-Dex Inc. common stock as of June 24, 2026. The group, which spent approximately $2.03 million to acquire its stake, believes the stock is undervalued and intends to influence company policies and assert shareholder rights to maximize value. The filing also reveals that 922,204 shares held by AO Partners Fund and 61,170 shares held by Mr. Swenson individually have been pledged as collateral for bank loans obtained in the ordinary course of business.

  • · No purchases or sales of common stock were made by any Reporting Person in the past 60 days.
  • · AO Partners Fund has pledged all 922,204 shares it holds as collateral for a bank loan obtained in the ordinary course of business.
  • · Nicholas J. Swenson has pledged 61,170 of his individually held shares as collateral for a separate bank loan.
  • · Mr. Swenson holds 20,000 stock options from the Issuer for board service, none exercisable within 60 days.
  • · The AO Partners Group states it has a 'control purpose' under the Securities Exchange Act of 1934.
  • · The filing is an amendment to a prior Schedule 13D, reflecting a transfer of shares to Groveland DST for tax and estate planning purposes.
Kymera Therapeutics, Inc. SC 13D/A neutral materiality 6/10

26-06-2026

On June 26, 2026, entities affiliated with BVF Partners L.P. (collectively holding approximately 6.3% of Kymera Therapeutics common stock) sold an aggregate of 1,630,658 shares at $106.50 per share. The sale reduces their combined stake from a prior level, though they continue to hold 5,237,151 shares (including pre-funded warrants) and remain a significant shareholder. The filing also discloses new stock option grants to board member Gorjan Hrustanovic, with economic benefits assigned to BVF Partners.

  • · The sale of 1,630,658 shares at $106.50 per share occurred on June 26, 2026.
  • · BVF sold 837,914 shares, BVF2 sold 627,597 shares, Trading Fund OS sold 113,289 shares, and the Partners Managed Account sold 51,858 shares.
  • · After the sale, BVF Partners L.P. and related entities beneficially own 5,237,151 shares (including pre-funded warrants), representing approximately 6.3% of outstanding shares.
  • · The denominator for percentage calculations is 82,257,588 shares outstanding plus 1,365,099 shares underlying pre-funded warrants.
  • · Gorjan Hrustanovic was awarded stock options for 6,068 shares on June 24, 2026, vesting upon the earlier of June 24, 2027 or the next annual meeting; economic benefits are assigned to BVF Partners.
  • · Pre-funded warrants have an exercise price of $0.0001 per share and do not expire, subject to a 9.99% blocker and HSR Act limitations.
Power REIT SC 13D/A negative materiality 8/10

26-06-2026

A group of beneficial owners (Bradley & Daytona Railway & Land Co. LLC, Alexander Kachmar, and trusts controlled by David Cacciapaglia) filed Amendment No. 6 to Schedule 13D, reporting aggregate beneficial ownership of 39,281 shares of Power REIT's Series A Preferred Stock, representing 11.7% of the outstanding shares. The filing also includes a formal demand letter to the independent trustees demanding that Power REIT promptly call a special meeting to elect two additional trustees as required under the preferred stock's governing documents, citing unpaid dividends for more than six quarterly periods. The group has increased its stake through open-market purchases since the prior filing, but the trust continues to face governance challenges as the company has not yet complied with the preferred stockholders' election rights.

  • · The reporting persons have formed a voting group solely for exercising rights under Section 8(a) of the Articles Supplementary.
  • · Since the prior filing on June 15, 2026, Bradley & Daytona and Alexander Kachmar purchased additional shares: 32 shares on 6/23/26 at avg $10.10, 150 shares on 6/24/26 at avg $10.06, 204 shares on 6/25/26 at avg $9.87, and 178 shares on 6/26/26 at avg $9.75.
  • · The demand letter was sent to each of the three independent trustees: William Susman, Patrick Haynes, and D'Aguilar.
  • · The trust has not yet established a record date, announced the special meeting, provided a timetable, or delivered proxy materials as required by the Articles Supplementary.
  • · The group's nominees for the two additional trustee seats are Alexander Kachmar and David Cacciapaglia.
Aditxt, Inc. SC 13G neutral materiality 6/10

26-06-2026

Jerzy Stanislaw Wojcik filed a Schedule 13G with the SEC on June 26, 2026, disclosing beneficial ownership of 160,144 shares of Aditxt, Inc. common stock, representing a 19.6% stake. The filing indicates the shares were acquired on June 11, 2026, and that the securities are not held for the purpose of changing or influencing control of the issuer.

  • · The filing was made under Rule 13d-1(c), indicating the filer is a passive investor.
  • · Wojcik has sole voting and dispositive power over all 160,144 shares.
  • · The shares were acquired on June 11, 2026.
  • · Wojcik's address is in Gliwice, Poland.
NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP SC 13D neutral materiality 7/10

26-06-2026

A Schedule 13D filing reveals that Jameson Brown and related entities beneficially own 31.50% of Depositary Receipts in New England Realty Associates Limited Partnership. The filing updates ownership following the closure of Harold Brown's estate on January 2, 2024, which transferred general partner control to entities controlled by Jameson Brown and Harley Brown. No negative or flat performance metrics are present in this beneficial ownership filing.

  • · The filing amends a Schedule 13D originally filed on October 16, 2009 and last amended on January 26, 2011.
  • · Harold Brown's estate was closed on January 2, 2024; control of the general partner (New Real) was split equally between Jameson Brown and Harley Brown (37.5% each).
  • · HBC Holdings, LLC holds 75% of the Class B units of the Partnership.
  • · Sally Michael disclaims any pecuniary interest in the Depositary Receipts held by HBC and HJB.
  • · No Reporting Person or Covered Person has been convicted in a criminal proceeding or been party to adverse securities-related civil proceedings in the past five years.
Maxeon Solar Technologies, Ltd. SC 13G neutral materiality 7/10

26-06-2026

On June 26, 2026, Whitebox Advisors LLC and Whitebox General Partner LLC filed a Schedule 13G disclosing beneficial ownership of 1,591,596 ordinary shares of Maxeon Solar Technologies, Ltd., representing 8.5% of the outstanding shares as of the filing date. However, this ownership level decreased from 9.1% as of June 15, 2026, indicating that the investment manager reduced its stake by approximately 0.6 percentage points in the intervening period.

  • · Filing is under Rule 13d-1(c), indicating the securities were acquired and held in the ordinary course of business, not with the purpose of changing or influencing control.
  • · Total ordinary shares outstanding used for percentage calculation includes 16,932,760 shares as of June 30, 2025, plus 1,140,896 shares issued on June 15, 2026 upon note conversion, plus 552,357 shares issuable upon warrant exercise.
Indaptus Therapeutics, Inc. SC 13D/A neutral materiality 5/10

26-06-2026

Ting Yang filed an amended Schedule 13D with the SEC on June 26, 2026, reporting a decrease in his beneficial ownership of Indaptus Therapeutics, Inc. (INDP) common stock from a prior level to 8.44% (11,250,000 shares). The decrease was solely due to an increase in the company's total outstanding shares following a private placement that closed on June 17, 2026; Yang did not acquire or dispose of any shares. Yang originally acquired his stake through a securities purchase agreement dated March 19, 2026, using personal funds of approximately $1.16 million.

  • · The filing is Amendment No. 2 to Schedule 13D, originally filed March 30, 2026, and amended April 29, 2026.
  • · Yang's shares were acquired upon conversion of Series AA and Series AAA Preferred Stock issued under a Securities Purchase Agreement dated March 19, 2026, which closed on March 23, 2026.
  • · Yang has sole voting and dispositive power over all 11,250,000 shares.
  • · No transactions in common stock were effected by Yang during the past 60 days.
  • · The decrease in ownership percentage (more than 1%) resulted solely from an increase in outstanding shares due to a private placement closing on June 17, 2026.
Indaptus Therapeutics, Inc. SC 13D/A neutral materiality 5/10

26-06-2026

Junyi Dai, CEO and Chairman of Indaptus Therapeutics, filed an amended Schedule 13D reporting a decrease in his beneficial ownership from a prior level to 8.44% of the company's common stock, representing 11,250,000 shares. The decrease was solely due to an increase in total outstanding shares following a private placement on June 17, 2026, and not from any sale or acquisition by Dai. Dai acquired his shares through a March 2026 purchase agreement using $1,156,642.43 of personal funds.

  • · The filing is an Amendment No. 2 to Schedule 13D, originally filed March 30, 2026, and amended by Amendment No. 1 on April 29, 2026.
  • · The decrease in ownership percentage resulted from an increase in outstanding shares due to a private placement closing on June 17, 2026.
  • · Dai did not acquire or dispose of any shares in connection with the ownership percentage change.
  • · Dai has sole voting and dispositive power over all 11,250,000 shares.
  • · No transactions in Common Stock were effected by the Reporting Person during the past 60 days.
  • · Dai is a citizen of Australia.
Indaptus Therapeutics, Inc. SC 13D/A neutral materiality 5/10

26-06-2026

Yun Yao filed an amended Schedule 13D with the SEC on June 26, 2026, reporting a decrease in her beneficial ownership percentage of Indaptus Therapeutics, Inc. from a prior level to 31.51% (41,991,000 shares) due solely to an increase in total shares outstanding following the company's private placement on June 17, 2026. Yao did not acquire or dispose of any shares during the period.

  • · Yao's ownership percentage decreased by more than 1% due to dilution from the company's private placement on June 17, 2026.
  • · Yao did not acquire or dispose of any shares in the past 60 days.
  • · Yao is a citizen of Australia and her address is in Southbank, VIC, Australia.
  • · The filing amends the initial Schedule 13D filed on March 30, 2026, and Amendment No. 1 filed on April 29, 2026.
Drugs Made In America Acquisition Corp. SC 13G neutral materiality 5/10

26-06-2026

Feis Equities LLC and its managing member Lawrence M. Feis disclosed a 5.08% beneficial ownership stake in Drugs Made In America Acquisition Corp. (DMAAR), holding 1,232,775 ordinary shares as of June 18, 2026. The filing was made under Rule 13d-1(c) and certifies that the securities were not acquired with the purpose of changing or influencing control of the issuer.

  • · The filing is a Schedule 13G, indicating passive investment intent (not seeking control).
  • · The issuer's ordinary shares have a par value of $0.0001 per share.
  • · The filing was made jointly by Feis Equities LLC and Lawrence M. Feis under a Joint Filing Agreement.
  • · The issuer's business address is 420 Lexington Avenue, Suite 1402, New York, NY 10170.
  • · The reporting persons' business address is 1740 Waukegan Road, Suite 206, Glenview, IL 60025.
Centessa Pharmaceuticals plc SC 13D/A neutral materiality 8/10

26-06-2026

Farallon Capital Management and related reporting persons disposed of all 15,230,910 previously reported Ordinary Shares of Centessa Pharmaceuticals plc on June 24, 2026, following the closing of Eli Lilly and Company's acquisition of Centessa through its wholly owned subsidiary LDH XV Corporation. This Amendment No. 1 to Schedule 13D reflects the complete exit of Farallon's stake in the company.

  • · The filing is an amendment to Schedule 13D, restating Items 5(a) and 5(c) to reflect the disposition of all shares.
  • · The acquisition by Eli Lilly closed on June 24, 2026, as described in Centessa's Form 8-K filed the same day.
  • · Farallon Capital Management, L.L.C. is based in San Francisco, California.
Niu Technologies SC 13D/A neutral materiality 6/10

26-06-2026

Glory Achievement Fund Ltd, Bull Group Ltd, and BULL TRUST filed Amendment No. 7 to Schedule 13D, reporting open-market purchases of 823,178 ADSs (1,646,356 Class A ordinary shares) for ~$1.8M from June 12-25, 2026. The group now beneficially owns 64,018,111 ordinary shares (40.8% of total outstanding shares as of Feb 28, 2026). The filing indicates investment purposes with potential future acquisitions or dispositions.

  • · The filing is Amendment No. 7 to Schedule 13D originally filed December 7, 2023.
  • · Purchases occurred from June 12, 2026 through June 25, 2026.
  • · The group's ownership percentage is based on 156,872,176 total ordinary shares outstanding as of February 28, 2026.
  • · Class B ordinary shares have 4 votes per share; Class A have 1 vote per share.
  • · No other transactions in the past 60 days besides those reported.
CervoMed Inc. SC 13G neutral materiality 5/10

26-06-2026

CVI Investments, Inc. and its investment manager Heights Capital Management, Inc. filed a Schedule 13G disclosing beneficial ownership of 750,000 shares of CervoMed Inc. common stock, representing a 5.5% stake as of June 18, 2026. The filing is a standard passive ownership disclosure under Rule 13d-1(c), with the filers certifying the shares were not acquired to change or influence control of the issuer.

  • · The filing was made pursuant to Rule 13d-1(c), indicating a passive investment intent.
  • · Heights Capital Management, Inc. serves as the investment manager to CVI Investments, Inc. and may be deemed to beneficially own the same 750,000 shares.
  • · The company's prospectus supplement filed on June 22, 2026 reported 13,526,233 shares outstanding after the completion of an offering.
  • · Both reporting persons disclaim beneficial ownership except for their pecuniary interest.
Quantum eMotion Corp SC 13G neutral materiality 6/10

26-06-2026

Susquehanna group entities (Capital Ventures International, Susquehanna Advisors Group, and Susquehanna Securities) filed a Schedule 13G disclosing beneficial ownership of 24,234,055 common shares of Quantum eMotion Corp, representing an 11.0% stake as of June 18, 2026. The filing is under Rule 13d-1(c), indicating passive investment intent, and the group does not aim to change or influence control of the issuer.

  • · Susquehanna Securities, LLC holds options to buy an additional 300 shares, included in its beneficial ownership count.
  • · The filing is under Rule 13d-1(c) (passive investor status) and Rule 13d-1(k) (joint filing).
  • · Capital Ventures International's principal business office is in Grand Cayman, Cayman Islands; Susquehanna entities are based in Bala Cynwyd, Pennsylvania.
  • · Susquehanna Advisors Group, Inc. acts as investment manager to Capital Ventures International under a Limited Power of Attorney dated December 4, 2012.
Wilco 63 Corp SC 13G neutral materiality 5/10

26-06-2026

MMCAP International Inc. SPC and MM Asset Management Inc. have filed a Schedule 13G with the SEC, disclosing beneficial ownership of 1,500,000 Class A Ordinary Shares of Wilco 63 Corp, representing a 6.5% stake. The filing indicates the shares were acquired in the ordinary course of business and not with the purpose of changing or influencing control of the issuer.

  • · The filing was made pursuant to Rule 13d-1(c), indicating the filers are passive investors.
  • · MMCAP International Inc. SPC is organized under the laws of the Cayman Islands, while MM Asset Management Inc. is organized under the laws of Ontario, Canada.
  • · The filing includes a Joint Filing Agreement between MMCAP International Inc. SPC and MM Asset Management Inc., dated June 25, 2026.
  • · The securities were acquired and are held in the ordinary course of business, not with the purpose of changing or influencing control of the issuer.

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