RF Acquisition Corp II - Ordinary shares, par value $0.0001 per share (RFAI) Institutional Ownership

13F Institutional Holders and Ownership History from Q3 2024 to Q4 2025

Type / Class
Equity / Ordinary shares, par value $0.0001 per share
Symbol
RFAI on Nasdaq
Shares outstanding
8,349,559
Price per share
$10.81
All holders as of 31 Dec 2025
Q4 2025
Total 13F shares
4,343,014
Total reported value
$46,617,460
% of total 13F portfolios
0%
Share change
-5,593,326
Value change
-$60,058,901
Number of holders
15
Reported Shares, Excluding Options vs Price
Reported Value, Excluding Options
Total Investors

Significant Owners of RF Acquisition Corp II - Ordinary shares, par value $0.0001 per share (RFAI) based on Schedule 13D/G filings

Filer Ownership Change % Holdings Value Net Change Nb Shares Change % Reporting Name Report Period
BERKLEY W R CORP 3.6% -43% $3,196,231 -$6,866,846 297,878 -68% W. R. Berkley Corporation 31 Dec 2025
AQR CAPITAL MANAGEMENT LLC 2% $1,827,652 170,331 AQR Capital Management, LLC 31 Dec 2025
WOLVERINE ASSET MANAGEMENT LLC 1.8% -66% $1,620,633 -$7,620,818 151,461 -82% WOLVERINE ASSET MANAGEMENT LLC 14 Nov 2025

As of 31 Dec 2025, 15 institutional investors reported holding 4,343,014 shares of RF Acquisition Corp II - Ordinary shares, par value $0.0001 per share (RFAI). This represents 52% of the company’s total 8,349,559 outstanding shares.

Top 25 Institutional Shareholders

The largest institutional shareholders of RF Acquisition Corp II - Ordinary shares, par value $0.0001 per share (RFAI) together control 52% 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
Karpus Management, Inc. 29% 2,397,033 -0.36% 0.79% $25,720,164
First Trust Capital Management L.P. 6.2% 514,506 -50% 0.34% $5,530,940
BERKLEY W R CORP 3.6% 297,878 -68% 0.18% $3,196,231
DEUTSCHE BANK AG\ 2.9% 243,000 -17% 0% $2,607,390
MIZUHO SECURITIES USA LLC 2.7% 229,362 +47% 0.04% $2,442,705
Glazer Capital, LLC 2.4% 199,986 -61% 0.06% $2,146,000
AQR Arbitrage LLC 2% 170,331 -78% 0.04% $1,836,168
WOLVERINE ASSET MANAGEMENT LLC 1.8% 150,750 -82% 0.02% $1,625,085
Polar Asset Management Partners Inc. 0.6% 50,000 -78% 0.01% $537,500
Kepos Capital LP 0.35% 29,057 -3.1% 1.8% $316,000
Logan Stone Capital, LLC 0.23% 19,004 0.05% $206,478
GOLDMAN SACHS GROUP INC 0.19% 16,214 -78% 0% $173,976
SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.19% 16,150 +31% 0% $174,097
Clear Street Group Inc. 0.11% 9,179 +4467% 0% $98,674
MORGAN STANLEY 0.01% 564 +7.6% 0% $6,052
Mint Tower Capital Management B.V. 0% 0 -100% $0
Warberg Asset Management LLC 0% 0 -100% $0
ROBINSON CAPITAL MANAGEMENT, LLC 0% 0 -100% $0
TWO SIGMA INVESTMENTS, LP 0% 0 -100% $0
Westchester Capital Management, LLC 0% 0 -100% $0
TORONTO DOMINION BANK 0% 0 -100% $0
Radcliffe Capital Management, L.P. 0% 0 -100% $0
D. E. Shaw & Co., Inc. 0% 0 -100% $0
CITADEL ADVISORS LLC 0% 0 -100% $0
RIVERNORTH CAPITAL MANAGEMENT, LLC 0% 0 -100% $0

Institutional Holders of RF Acquisition Corp II - Ordinary shares, par value $0.0001 per share (RFAI) across Reporting Periods

Period Reported Shares, Excl. Options Value, Excl. Options Value Change Price (Median) Investors
2025 Q4 4,343,014 $46,617,460 -$60,058,901 $10.75 15
2025 Q3 9,936,340 $106,565,525 +$1,117,026 $10.74 30
2025 Q2 9,832,248 $103,680,395 +$8,684,106 $10.53 28
2025 Q1 9,626,247 $99,916,384 -$493,130 $10.37 30
2024 Q4 9,677,806 $98,905,999 +$2,997,362 $10.22 35
2024 Q3 9,551,773 $97,767,024 +$91,264,464 $10.17 30