Core Viewpoint - Investor Michael Burry, known for "The Big Short," has significant investments in Fannie Mae and Freddie Mac, anticipating substantial price increases if the U.S. mortgage finance giants are taken private [1] Group 1: Company Insights - Michael Burry holds sizable positions in Fannie Mae and Freddie Mac, indicating confidence in their future performance [1] - The expectation of a material rise in the value of these companies suggests a potential shift in the mortgage finance landscape [1]

Company Overview - StubHub's market capitalization is $4.8 billion, with a current stock price of $14.9 as of November 15, 2025 [4] - The company reported a trailing twelve months (TTM) revenue of $1.80 billion [4] Investment Activity - Madrone Advisors initiated a new stake in StubHub, acquiring 75,780,055 shares valued at approximately $1.3 billion, which constitutes 62.8% of its reportable U.S. equity holdings for the quarter [2][6] - This acquisition makes StubHub Madrone's largest holding [2][6] Stock Performance - As of November 14, 2025, StubHub shares were priced at $14.87, which is 46.7% below its 52-week high [3] - The stock has seen a significant decline, trading nearly 50% below its initial public offering (IPO) price of $23.50 as of December 8, 2025 [10] Business Model - StubHub operates a digital marketplace for secondary ticket sales for live events, generating revenue primarily through transaction fees [8] - The company serves consumers looking for access to sold-out or premium events and provides a secure platform for ticket sellers [8] - StubHub's technology-driven approach enhances the buying and selling process, positioning it competitively in the event ticketing market [9]

As filed with the Securities and Exchange Commission on December 8, 2025. Registration No. 333-290366 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 1 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ________________________ Silicon Valley Acquisition Corp. (Exact name of registrant as specified in its charter) ________________________ Cayman Islands 6770 N/A (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Cla ...

Core Viewpoint - Elon Musk refuted claims that SpaceX is raising funds at an $800 billion valuation, stating that such reports are inaccurate [1] Group 1: Financial Performance - SpaceX has generated positive cash flow for several years and conducts stock buybacks biannually to allow employees and investors to sell shares instead of raising new capital [2] - The company's rising valuation is attributed to advancements in Starship and Starlink, as well as securing global direct-to-cell spectrum, which expands its market potential [2] Group 2: Business Developments - SpaceX filed a "STARLINK MOBILE" trademark in October, indicating potential plans for mobile network carrier operations [3] - Musk stated that with Starship, SpaceX is expected to carry approximately 99% of Earth's orbital payload mass once it begins frequent launches, even if competitors increase their launch rates [3] Group 3: IPO Plans - SpaceX, which has remained private for nearly 25 years, has indicated a potential IPO target for late 2026 [4] - Musk expressed interest in taking SpaceX public to provide Tesla supporters the opportunity to own shares of the company, despite acknowledging potential drawbacks [4]

Core Viewpoint - SpaceX is preparing to sell insider shares, potentially valuing the company at up to $800 billion, reclaiming the title of the world's most valuable privately held company [1][4]. Group 1: Valuation and Share Details - The share price under discussion is higher than $400 per share, which would place SpaceX's valuation between $750 billion and $800 billion [3][4]. - This valuation represents a significant increase from the previous share price of $212 set in July, when the company was valued at $400 billion [4]. Group 2: IPO Considerations - SpaceX is exploring a possible initial public offering (IPO) as soon as late next year, with discussions taking place among the board of directors [2]. - The details of the IPO could change based on interest from insider sellers and buyers [2]. Group 3: Market Impact and Industry Position - News of SpaceX's valuation positively impacted shares of EchoStar Corp., which rose as much as 18% following the announcement [5]. - SpaceX is the leading company in the space industry, known for its Falcon 9 rocket and its Starlink internet service, which operates with over 9,000 satellites [5][6]. - The company is part of an elite group capable of raising funds at valuations exceeding $100 billion while delaying or denying plans for a public offering [6]. Group 4: Potential Market Position Post-IPO - An IPO at an $800 billion valuation would position SpaceX among the 20 largest public companies, just below Tesla Inc. [7].

Core Insights - The New York Stock Exchange anticipates a significant increase in delayed IPOs in early 2026, particularly in January and the first quarter [1][2] - The IPO market experienced disruptions earlier in the year due to major events, including a temporary government shutdown, which caused companies to postpone their listing plans [2][3] - Political uncertainty surrounding midterm elections later in 2026 may lead companies to avoid going public during that period [3][4] Company-Specific Developments - Anthropic, an AI startup backed by Alphabet and Amazon, is preparing for a potential IPO in 2026 [4] - OpenAI, supported by Microsoft, is also planning for a significant IPO, with a potential valuation of $1 trillion, possibly filing with regulators in the second half of 2026 [5] - SpaceX has informed investors of its intention to pursue a full-company IPO, including Starlink, by late 2026, with a valuation estimated at $800 billion [6]

Company Overview - Blue Water Acquisition Corp. IV is a newly formed special purpose acquisition company (SPAC) that has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) for a proposed initial public offering (IPO) of $125 million [1][2]. Investment Focus - The company intends to focus on high-potential companies within the biotechnology, healthcare, and technology sectors, although it may pursue acquisition opportunities in any business, industry, sector, or geographical location [2]. Offering Management - BTIG, LLC is serving as the sole book-running manager for the offering [2]. Regulatory Status - The registration statement has been filed with the SEC but has not yet become effective, meaning that the securities may not be sold or offers to buy accepted until the registration becomes effective [3]. Legal Disclaimer - The press release clarifies that it does not constitute an offer to sell or solicit offers to buy any securities, nor will there be any sale of securities in jurisdictions where such actions would be unlawful prior to registration or qualification under applicable securities laws [4].

Core Points - Activate Energy Acquisition Corp. closed its initial public offering (IPO) of 23,000,000 units at $10.00 per unit, raising gross proceeds of $230 million before expenses [1][3] - The units began trading on Nasdaq under the ticker symbol "AEAQU" on December 4, 2025 [1] - Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, with whole warrants allowing the purchase of one Class A ordinary share at $11.50 [2] Company Overview - Activate Energy Acquisition Corp. is a blank check company incorporated in the Cayman Islands, aiming to effect a merger, share exchange, asset acquisition, or similar business combination [5] - The company intends to focus on industries that complement its management team's background, particularly in the oil and gas sector [5] - The net proceeds from the offering will be used to consummate the company's initial business combination [3]

Core Viewpoint - The Trump administration is progressing towards an IPO for Fannie Mae (FNMA), aiming for completion by the first quarter of 2026, according to Commerce Secretary Howard Lutnick's comments on CNBC [1]. Group 1: IPO Progress - The administration is "well down the road" to completing the IPO of Fannie Mae [1]. - There is an expectation for something to be accomplished by 1Q26 [1]. Group 2: Uncertainties and Considerations - There is currently no information on how the administration plans to address the Treasury's senior preferred equity interest in Fannie Mae [1]. - The specifics regarding the release of Fannie Mae from conservatorship remain unclear [1]. - It is uncertain whether the focus will be on selling some of the Treasury's interest or raising capital to meet the FHFA's capital targets [1]. Group 3: Market Outlook - Wedbush maintains an Outperform rating on Fannie Mae shares with a price target of $11.50 [1].

Core Viewpoint - Jack Mallers, CEO of Strike, is advancing towards a public listing for his company, Twenty One Capital, despite facing challenges from traditional finance, specifically after JPMorgan Chase closed his bank accounts [1][6]. Group 1: Company Overview - Twenty One Capital is a Bitcoin-native enterprise aimed at providing investors with exposure to Bitcoin through equity markets [2]. - The company is backed by Tether and SoftBank, positioning itself to compete with Michael Saylor's Strategy (NASDAQ: MSTR) [2]. - The merger with Cantor Equity Partners (CEP) is a significant milestone for Twenty One Capital, with plans to complete the merger and PIPE financings by December 8, 2025 [3]. Group 2: IPO Details - Following the merger, the combined entity will retain the name Twenty One Capital and is set to begin trading on the New York Stock Exchange under the ticker symbol "XXI" starting December 9, 2025 [4]. - The company aims to operate as a Bitcoin-only entity, focusing on delivering long-term shareholder value and creating a capital-efficient vehicle for Bitcoin accumulation [4]. Group 3: Background Context - The approval for the merger comes after JPMorgan Chase closed Mallers' accounts in September, citing "concerning activity" related to the Bank Secrecy Act, which has barred him from reopening accounts at the bank [6].