Black Hawk Acquisition Corp
BKHA
22 hedge funds and large institutions have $22.9M invested in Black Hawk Acquisition Corp in 2025 Q3 according to their latest regulatory filings, with 4 funds opening new positions, 3 increasing their positions, 7 reducing their positions, and 10 closing their positions.
21% less funds holding
Funds holding: 28 → 22 (-6)
42.63% less ownership
Funds ownership: 65.74% → 23.11% (-43%)
57% less repeat investments, than reductions
Existing positions increased: 3 | Existing positions reduced: 7
60% less first-time investments, than exits
New positions opened: 4 | Existing positions closed: 10
63% less capital invested
Capital invested by funds: $62.3M → $22.9M (-$39.4M)
100% less funds holding in top 10
Funds holding in top 10: 1 → 0 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MC
Meteora Capital
Boca Raton,
Florida
|
+$1.1M |
| 2 |
CA
Crossingbridge Advisors
Pleasantville,
New York
|
+$581K |
| 3 |
QL
Quarry LP
New York
|
+$110K |
| 4 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
+$47.7K |
| 5 |
CS
Clear Street
New York
|
+$14K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
KIM
Karpus Investment Management
Pittsford,
New York
|
-$10.8M |
| 2 |
FTCM
First Trust Capital Management
Chicago,
Illinois
|
-$7.12M |
| 3 |
MSU
Mizuho Securities USA
New York
|
-$4.14M |
| 4 |
AA
AQR Arbitrage
Greenwich,
Connecticut
|
-$4.01M |
| 5 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$3.2M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
26
Two Sigma Investments
New York
| – | -$1.83M | -172,200 | Closed |
|
|
GCL
27
Glazer Capital LLC
New York
| – | -$1.39M | -131,243 | Closed |
|
|
CC
28
Centiva Capital
New York
| – | -$1.06M | -100,000 | Closed |
|
|
TCM
29
Tenor Capital Management
New York
| – | -$372K | -35,000 | Closed |
|
|
DWM
30
Dakota Wealth Management
Palm Beach Gardens,
Florida
| – | -$297K | -28,000 | Closed |
|
|
GCIA
31
Gabelli & Co Investment Advisers
Rye,
New York
| – | -$249K | -23,400 | Closed |
|
|
GF
32
Gabelli Funds
Rye,
New York
| – | -$239K | -22,481 | Closed |
|
BKHA Hedge Fund Activity: Q3 2025 in Review
22 of the 7,625 institutional investors tracked by Wall St. Rank reported a position in Black Hawk Acquisition Corp (BKHA) for Q3 2025, worth a combined $22.9M — down 63% from $62.3M a quarter earlier.
Sellers outnumbered buyers: 10 funds closed out of BKHA and 4 opened new positions — a net loss of 6 holders — while 7 trimmed existing stakes and 3 added.
The largest buyer was Meteora Capital, opening a new position worth an estimated $1.1M. The largest seller was Karpus Investment Management, exiting entirely with an estimated $10.8M sold.
- 22 institutional investors held Black Hawk Acquisition Corp (BKHA) as of Q3 2025, down from 28 in Q2 2025.
- Funds reported $22.9M of Black Hawk Acquisition Corp stock for Q3 2025, down 63% quarter-over-quarter.
- 4 funds opened new Black Hawk Acquisition Corp positions in Q3 2025 and 10 closed out, a net change of -6 holders.
- The largest Black Hawk Acquisition Corp buyer in Q3 2025 was Meteora Capital, an estimated $1.1M added.
- The largest Black Hawk Acquisition Corp seller in Q3 2025 was Karpus Investment Management, an estimated $10.8M sold.
Based on aggregated 13F filings for Q3 2025.