As of November 6, 2026, 2 holders' latest Schedule 13D or 13G filings report owning 5% or more of TON Strategy Company. The largest reported stake is Manuel Stotz's, at 21.96%. 11 filings are on record since July 14, 2025 (Schedule 13D/A, October 27, 2026).
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Key facts
- · Holder: Manuel Stotz · Percent: 21.96% · Shares: 12,091,720 · SCHEDULE 13D/A
- · Holder: Aristeia Capital, L.L.C. · Percent: 8.66% · SCHEDULE 13G/A
- · Holder: Aristeia Capital, L.L.C. · Percent: 8.21% · SCHEDULE 13G
- · Holder: Manuel Stotz · Percent: 19.93% · SCHEDULE 13D/A
- · Holder: Manuel Stotz · Percent: 19.99% · SCHEDULE 13D
TON Strategy Company has 11 Schedule 13D or 13G filings on record since 2025-07-14. 2 holders' latest filing reports 5% or more of common stock, par value $0.0001 per share. Each figure below is the holder's own, as filed, with the filing linked.
Holders
| Holder | Percent | Shares | Latest | Event date |
|---|---|---|---|---|
| 21.96% | 12,091,720 | SCHEDULE 13D/A, 2026-10-27 | 2026-10-27 | |
| Aristeia Capital, L.L.C. | 8.66% | 4,895,110 | SCHEDULE 13G/A, 2026-04-02 | 2026-03-31 |
| 1.5% | 889,065 | SCHEDULE 13D/A, 2025-08-11 | 2025-08-07 | |
| 1.32% | 801,616 | SCHEDULE 13D/A, 2025-08-08 | 2025-08-07 |
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More on TON Strategy Company and the records around it.
TON Strategy Company elsewhere on the record
- Leadership changes Aug 2026
- Form D filing Aug 2025
- Form D filing Apr 2025
- Who owns it
Companies that share a holder
- Aristeia Capital, L.L.C. also filed stake reports on 54 other companies: Apogee Acquisition Corp (Aug 2026), ARC Group Acquisition I Corp (Aug 2026), ClearThink 1 Acquisition Corp. (Aug 2026)
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Voting and dispositive power, as filed
| Reporting person | Sole voting | Shared voting | Sole dispositive | Shared dispositive | Filing |
|---|---|---|---|---|---|
| Manuel Stotz | 0 | 12,091,720 | 0 | 12,091,720 | SCHEDULE 13D/A, 2026-10-27 |
| Kingsway Capital Partners Limited | 0 | 12,091,720 | 0 | 12,091,720 | SCHEDULE 13D/A, 2026-10-27 |
| Kingsway Fund - Frontier Consumer Franchises | 0 | 1,051,525 | 0 | 1,051,525 | SCHEDULE 13D/A, 2026-10-27 |
| FCO2 Digital Ltd | 0 | 2,797,608 | 0 | 2,797,608 | SCHEDULE 13D/A, 2026-10-27 |
| Kingsway Frontier Consumer Opportunities (FCO4) Growth Fund IV Ltd | 0 | 2,297,678 | 0 | 2,297,678 | SCHEDULE 13D/A, 2026-10-27 |
| SP12 Digital Ltd | 0 | 333,144 | 0 | 333,144 | SCHEDULE 13D/A, 2026-10-27 |
| SP13 Digital Ltd | 0 | 3,690,399 | 0 | 3,690,399 | SCHEDULE 13D/A, 2026-10-27 |
| SP14 Digital Ltd. | 0 | 1,437,739 | 0 | 1,437,739 | SCHEDULE 13D/A, 2026-10-27 |
| SP15 Digital Ltd | 0 | 483,627 | 0 | 483,627 | SCHEDULE 13D/A, 2026-10-27 |
The latest filing identifies TON Strategy Company by CUSIP 92337U302 and gives its principal executive office as 2300 West Sahara Avenue, Suite 800, Las Vegas, NV 89102 (SCHEDULE 13D/A, 2026-10-27).
Source of funds (Item 3)
No amendment to Item 3 of the Schedule 13D is being made in this Amendment.Manuel Stotz, SCHEDULE 13D/A, 2026-10-27
Purpose of Transaction (Item 4)
Manuel Stotz
Item 4 of the Schedule 13D is hereby amended and restated in its entirety as follows: The Funds acquired the Common Stock reported in the Schedule 13D on August 7, 2025 in the Issuer's private placement of securities pursuant to the Subscription Agreement, dated as of August 3, 2025, among the Issuer and the investors party thereto, for investment purposes. In connection with that transaction, Mr. Stotz was appointed Executive Chairman of the Issuer's Board of Directors (the "Board"). Following the transaction, the Issuer implemented its treasury strategy of acquiring and staking Gram (formerly known as Toncoin), the native digital asset of The Open Network. Mr. Stotz was elected as a director at the Issuer's 2026 annual meeting of stockholders held on June 9, 2026 and continues to serve as Executive Chairman of the Board. On October 27, 2026, the Reporting Persons delivered an open letter (the "October Letter") to the Board. In the October Letter, the Reporting Persons, among other things, stated their view that the Common Stock trades at a significant discount to the Issuer's estimated treasury asset value per share and that larger and more immediate share repurchases would help close that discount and expressed concern regarding the Issuer's valuation and performance and the adequacy of the Board's engagement on the Issuer's capital allocation, leadership, strategy, stockholder engagement and Board processes and communication channels. The foregoing summary does not …The first part of Item 4 of the SCHEDULE 13D/A filed 2026-10-27; the filing has the rest
Timeline
| Filed | Holder | Percent | Filing |
|---|---|---|---|
| 2025-07-14 | James P. Geiskopf | 12.7% | SCHEDULE 13D |
| 2025-07-14 | Rory J. Cutaia | 12.8% | SCHEDULE 13D/A |
| 2025-08-05 | James P. Geiskopf | 25.7% | SCHEDULE 13D/A |
| 2025-08-05 | Rory J. Cutaia | 28.5% | SCHEDULE 13D/A |
| 2025-08-08 | Geiskopf James P | 1.32% | SCHEDULE 13D/A |
| 2025-08-11 | Rory J. Cutaia | 1.5% | SCHEDULE 13D/A |
| 2025-08-14 | Manuel Stotz | 19.99% | SCHEDULE 13D |
| 2025-08-18 | Manuel Stotz | 19.93% | SCHEDULE 13D/A |
| 2026-02-17 | Aristeia Capital, L.L.C. | 8.21% | SCHEDULE 13G |
| 2026-04-02 | Aristeia Capital, L.L.C. | 8.66% | SCHEDULE 13G/A |
| 2026-10-27 | Manuel Stotz | 21.96% | SCHEDULE 13D/A |
Questions about who owns TON Strategy Company
Who owns TON Strategy Company?
On this page, 2 holders' latest ownership filings report 5% or more of TON Strategy Company: Manuel Stotz (21.96%, Schedule 13D/A, filed 2026-10-27) and Aristeia Capital, L.L.C. (8.66%, Schedule 13G/A, filed 2026-04-02).
Who are the largest shareholders of TON Strategy Company?
By the share each holder's latest filing reports, the largest holders of TON Strategy Company on this page are Manuel Stotz (21.96%) and Aristeia Capital, L.L.C. (8.66%).
When did Manuel Stotz buy into TON Strategy Company?
The filings give report dates, not purchase dates. The earliest filing from Manuel Stotz on this page is the Schedule 13D, filed 2025-08-14, reporting 19.99%; its latest, Schedule 13D/A filed 2026-10-27, reports 21.96%.
Is this an audit or a full list?
Neither. The ownership list on this page covers only Schedule 13D and 13G filings, which holders make once they own 5% or more of a class of shares (an amendment can report a stake that has since fallen below 5%); 11 such filings are shown here. It is not an audit and not a full cap table: holders who never reached 5% are not listed, and a stake can change after its latest filing.
Also on the record for TON Strategy Company
| Date | Record | Figure | Our page | Source |
|---|---|---|---|---|
| August 17, 2026 | Leadership change: Oscar Suarez appointed | — | Leadership changes | Source |
| April 16, 2026 | Leadership change: Kevin Wilson appointed, Chief Executive Officer | — | Leadership changes | Source |
| August 22, 2025 | Form D, private offering | $558.26M sold | Form D page | Source |
| April 25, 2025 | Form D, private offering | $1M sold | Form D page | Source |
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Where this comes from
Anyone who comes to own more than 5% of a class of a listed company's voting shares has to tell the SEC. A holder who may seek to change or influence the company files Schedule 13D, and has to say in Item 4, "Purpose of Transaction", what it intends to do. A holder with no such intent, such as many index and passive funds, may file the shorter Schedule 13G. Both are amended when the stake changes, including when it falls below 5%.
Every row here is one of those filings, linked to the filing itself. Percentages and share counts are exactly as the holder filed them, for the holder the filing names; an amendment showing a lower figure is shown as filed. Item 4 text is quoted word for word. Where a 13D's Item 4 contains a sentence stating a definite intent to influence the company, that sentence is marked and quoted; the page does not describe the holder or its motives beyond the words it filed. Nothing here is investment advice.