Hall Chadwick Acquisition
HCAC on Nasdaq. Market value n/a.
Should I look at this?
Look carefully before going further
Why it could be worth it
Nothing stands out yet.
What to watch out for
Read the warning sign in its own filings
This is not advice.
Who owns it
None of the long-term investors we follow own it. 55 funds in all.
Largest holders overall
- Adage Capital Partners GP, L.L.C.$16m
- Meteora Capital$11mCut
- Glazer Capital$11mAdded
- Wolverine Asset Management$9mAdded
- Linden Advisors LP$9mAdded
- TENOR CAPITAL MANAGEMENT Co., L.P.$8m
- Picton Mahoney Asset Management$7m
- Context Capital Management$7m
- Alberta Investment Management$6m
- Radcliffe Capital Management, L.P.$6m
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
4 investors own more than 5%.
- Adage Capital Management, L.P.Passive investorat least 7.6%(filed with 2 related holders)Since 31 December 2025
- Meteora Capital, LLCPassive investor5.2%+5.2 ptsSince 30 June 2026
- Glazer Capital, LLCPassive investorat least 5.2%(filed with 1 related holder)Since 30 June 2026
- Saba Capital Management, L.P.Passive investorat least 4.2%−2.5 pts(filed with 2 related holders)Since 31 December 2025
| Holder | Stake | Since | |
|---|---|---|---|
Adage Capital Management, L.P. Passive investor | at least 7.6% (filed with 2 related holders) | 31 December 2025 | |
Meteora Capital, LLC Passive investor | 5.2%+5.2 pts | 30 June 2026 | |
Glazer Capital, LLC Passive investor | at least 5.2% (filed with 1 related holder) | 30 June 2026 | |
Saba Capital Management, L.P. Passive investor | at least 4.2%−2.5 pts (filed with 2 related holders) | 31 December 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
We have no insider filings for this company yet.
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
1 serious warning sign in Hall Chadwick Acquisition’s filings.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 15 Apr 2026, plus the 10-Q filed 19 Aug 2026 and 5 later 8-Ks.
Doubt it can keep going
SeriousThe company or its auditor warned it may not have enough money to last the next year.
“The Company’s liquidity condition raises substantial doubt about the Company’s ability to continue as a going concern for a period of time within one year after the date that the accompanying condensed financial statements are issued.”
Show the full paragraph
The Company’s liquidity condition raises substantial doubt about the Company’s ability to continue as a going concern for a period of time within one year after the date that the accompanying condensed financial statements are issued. Management plans to address this uncertainty through a business combination. No adjustments have been made to the carrying amounts of assets or liabilities should the Company be required to liquidate after the business completion window. The Company intends to complete the initial Business Combination before the end of the completion window. However, there can be no assurance that the Company will be able to consummate any Business Combination by the end of the completion window.
From the 10-Q filed 19 August 2026, Part I, Item 1. Financial Statements. Read it in the filing
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
The company just told the SEC about a big change. The deep dive shows what it means for the price you pay.
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.