Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Black Hawk Acquisition Corp (BKHA)

22 + Investors. Track Smart Money conviction in BKHA. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -2
Streak
1Q ▼
Buyers last Q
33%

Smart Money Signals — BKHA

Based on 22 hedge funds · latest filing: 2026 Q2 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds reduced or closed their BKHA positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻

Below peak — only 69% of 3.0Y high

69% of all-time peak
Only 22 funds hold BKHA today versus a peak of 32 funds at 2024 Q3 — just 69% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
📉

Outflows — 21% fewer funds vs a year ago

fund count last 6Q
6 fewer hedge funds hold BKHA compared to a year ago (-21% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🔴

Heavy selling pressure — only 33% buying

4 buying8 selling
Last quarter: 8 funds sold vs only 4 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️

Steady new buyers — ~1 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 5 → 1 → 4 → 1. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄

Mostly new holders — 18% entered in last year

■ 23% conviction (2yr+) ■ 59% medium ■ 18% new
Only 5 funds (23%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
📊

Peak discovery — momentum slowing

3 → 5 → 1 → 4 → 1 new funds/Q
New funds entering each quarter: 5 → 1 → 4 → 1. BKHA is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
📊

Mixed cohorts — 5% veterans, 41% new entrants

■ 5% veterans ■ 55% 1-2yr ■ 41% new
Of 22 current holders: 1 (5%) held 2+ years, 12 held 1–2 years, 9 (41%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋

Smaller funds dominant — 5% AUM from top-100

5% from top-100 AUM funds
5 of 22 holders rank in the top 100 by AUM, but together hold only 5% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
2.8
out of 10
Low Exit Risk
Exit risk score 2.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — BKHA

In 2026 Q2, 4 hedge funds were net buyers of BKHA (1 opened a new position, 3 added to an existing one), while 8 reduced or exited (5 trimmed, 3 sold completely) — a 33% buyer ratio, indicating net institutional distribution. Net fund flow last quarter: -2 funds (more exits than new entries). Total institutional holders: 22.

Hedge Fund Ownership: BKHA

How many hedge funds hold BKHA — quarterly history vs. share price
Quarterly hedge fund ownership of BKHA vs. share price

Market Analysis: BKHA

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: BKHA

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Loading signal freshness…
Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

0 top-rated funds 0 high-conviction
Consensus
0.0
/ 10
breadth
×
Elite
0.1
/ 10
conviction
Hedge Fund Positioning: BKHA
22 + Investors

Track Smart Money conviction in BKHA. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 22 24 -8.33%
13F Shares 2M 2M -0.94%
Total Value $23M $23M 2.44%
New Positions 1 4 -3
Increased Positions 3 2 +1
Closed Positions 3 0 +3
Reduced Positions 5 4 +1
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: BKHA

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Valuation Measures Data as of: --

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Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

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Institutional Holders (2026 Q2)

22 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in BKHA. Verified SEC 13F-HR filings.

QUARTER:
Top 22 BKHA holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Yakira Capital Management, Inc. 0.30% 88,749 $1.1M
2 Berkley W R Corp 0.19% 314,797 $3.9M
3 RLH Capital LLC 0.17% 29,448 $352K
4 Warberg Asset Management LLC 0.16% 71,923 $857K
5 Crossingbridge Advisors, LLC 0.11% 53,024 $632K
6 Mizuho Securities USA LLC 0.10% 373,800 $4.3M
7 Meteora Capital, LLC 0.07% 63,988 $831K
8 Westchester Capital Management, LLC 0.06% 102,000 $1.2M
9 Logan Stone Capital, LLC 0.03% 13,385 $165K
10 Wolverine Asset Management LLC 0.03% 331,222 $3.9M
11 AQR Arbitrage LLC 0.02% 133,108 $1.6M
12 Boothbay Fund Management, LLC 0.02% 120,000 $1.4M
13 Quarry LP 0.01% 10,528 $130K
14 Polar Asset Management Partners Inc. 0.01% 39,100 $483K
15 Clear Street Group Inc. 0.00% 81,481 $970K
16 Calamos Advisors LLC 0.00% 24,591 $289K
17 D. E. Shaw & Co., Inc. 0.00% 75,000 $883K
18 BNP Paribas Financial Markets 0.00% 4,572 $54K
19 Goldman Sachs Group Inc 0.00% 10,635 $125K
20 SBI Securities Co., Ltd. 0.00% 2 —
21 UBS Group AG 0.00% 184 $2K
22 Morgan Stanley 0.00% 57 —
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Black Hawk Acquisition Corp (BKHA)

What does the Smart Money Trend signal show for BKHA?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their BKHA positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for BKHA?

Heavy selling pressure — only 33% buying: Last quarter: 8 funds sold vs only 4 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.

What is the fund quality score for BKHA holders?

Smaller funds dominant — 5% AUM from top-100: 5 of 22 holders rank in the top 100 by AUM, but together hold only 5% of total institutional value. The stock is held primarily by smaller and mid-sized funds.

How long have hedge funds held BKHA?

Mostly new holders — 18% entered in last year: Only 5 funds (23%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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