PURR on Nasdaq

Hyperliquid Strategies

Logo: hypestrat.xyz⁴

US digital asset treasury company.¹

Price unavailable

Last updated Oct 19, 2026.

Overview

$9.5MRevenue, fiscal 2026⁵

$305.5MNet income, fiscal 2026⁵

Jul 2, 2025Founded¹

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TickerPURR on Nasdaq¹
Industrycryptocurrency industry, financial services¹
HeadquartersNew York City¹
Websitewww.hypestrat.xyz
Legal formDelaware corporation¹
Incorporated inDE⁶
Business address477 Madison Avenue 22Nd Floor, C/O Hyperliquid Strategies Inc, New York, Ny 10022⁶
Filer categoryNon-accelerated filer, Smaller reporting company, Emerging growth company⁶
LEI98450073FF7E1B63N260³
StatusActive³
LEI statusIssued and current³
Registered addressCORPORATION TRUST CENTER 1209 ORANGE ST, 19801 Wilmington, United States³
Registered withDivision of Corporations, Department of State, 10248236³

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Hyperliquid Strategies image from its website — Image: hypestrat.xyz⁴

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

5292.0%Operating margin⁵

3229.8%Net margin⁵

16.3%Return on equity⁵

Where the money goes

Where each dollar of revenue went, fiscal 2026

Income taxProfit

Income tax38¢$183.5M
Profit62¢$305.5M

Out of $9.5M in revenue.⁵

Financial statements

Every line of the income statement as filed: the last 1 fiscal year, latest first.⁵

Period ending	2026-06-30
Total revenue	$9.5M
Unrealized gain on HYPE digital assets	$709.9M
Loss on HYPE contribution commitment	-$169.2M
IPR&D write-off from Sonnet acquisition	-$35.6M
Selling, general and administrative and research and development expenses	-$14.0M
Total operating income (expense)	$491.2M
Net operating income (loss)	$500.6M
Other expense	-$14.3M
Gain (loss) from equity method investment in Guidant	-$362.0K
Other income	$323.0K
Interest income	$2.7M
Total other income (expense)	-$11.6M
Net income (loss) before income taxes	$489.0M
Provision for income taxes	-$183.5M
Net income (loss)	$305.5M
Less: Net income allocated to participating preferred stockholders	-$49.4M
Net income (loss) attributable to common stockholders	$256.2M
Net income (loss) per common share - Basic	$3.21
Net income (loss) per common share - diluted	$3.21
Weighted average number of common shares outstanding - basic	79.8M shares
Weighted average number of common shares outstanding - diluted	79.8M shares

Total assets⁵$2.1B in 2026

Total liabilities⁵$187.1M in 2026+31246% since 2025

Shareholders’ equity⁵$1.9B in 2026

Cash⁵$137.9M in 2026

Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.⁵

Period ending	2026-06-30	2025-06-30	2025-05-31
Cash and cash equivalents	$137.9M	$0
Prepaids and other current assets	$14.1M	$0
Receivable from related party	$405.0K	$0
Total current assets	$152.4M	$0
HYPE digital assets	$1.9B	$0
Equity method investment	$2.7M	$0
Other non-current assets	$875.0K	$0
Total assets	$2.1B	$0
Accounts payable	$1.2M	$597.0K
Other current liabilities	$2.5M	$0
Total current liabilities	$3.7M	$597.0K
Deferred tax liability	$183.5M	$0
Total liabilities	$187.1M	$597.0K
Series A Preferred stock, $0.01 par value, 100,000,000 and 0 shares authorized as of June 30, 2026 and June 30, 2025, respectively; 166,173 and 0 shares issued and outstanding as of June 30, 2026, and June 30, 2025, respectively	$2.0K
Common stock, $0.01 par value, 2,000,000,000 and 0 shares authorized as of June 30, 2026 and June 30, 2025, respectively; 203,617,555 shares issued and 200,550,458 shares outstanding (excluding treasury shares of 3,067,097) as of June 30, 2026, and 0 shares issued and 0 shares outstanding (excluding treasury shares of 0) as of June 30, 2025	$2.0M	$0
Additional paid-in capital	$1.6B	$0
Retained earnings (accumulated deficit)	$304.9M	-$597.0K
Treasury stock, at cost; 3,067,097 and 0 shares as of June 30, 2026, and June 30, 2025, respectively	-$10.5M	$0
Total stockholders' equity (deficit)	$1.9B	-$597.0K	$0
Total liabilities and stockholders' equity (deficit)	$2.1B	$0
Series A Preferred stock, par or stated value per share	$0.01	$0.01
Series A Preferred stock, shares authorized	100.0M shares	0 shares
Series A Preferred stock, shares outstanding	166.2K shares	0 shares
Series A Preferred stock, shares issued	166.2K shares	0 shares
Common stock, par or stated value per share	$0.01	$0.01
Common stock, shares authorized	2.0B shares	0 shares
Common stock, shares issued	203.6M shares	0 shares
Common stock, shares outstanding	200.6M shares	0 shares
Treasury stock, shares	3.1M shares	0 shares

Period ending	2026-06-30	2025-06-30	2025-05-31
Cash and cash equivalents	$137.9M	$0
Prepaids and other current assets	$14.1M	$0
Receivable from related party	$405.0K	$0
Total current assets	$152.4M	$0
HYPE digital assets	$1.9B	$0
Equity method investment	$2.7M	$0
Other non-current assets	$875.0K	$0
Total assets	$2.1B	$0
Accounts payable	$1.2M	$597.0K
Other current liabilities	$2.5M	$0
Total current liabilities	$3.7M	$597.0K
Deferred tax liability	$183.5M	$0
Total liabilities	$187.1M	$597.0K
Series A Preferred stock, $0.01 par value, 100,000,000 and 0 shares authorized as of June 30, 2026 and June 30, 2025, respectively; 166,173 and 0 shares issued and outstanding as of June 30, 2026, and June 30, 2025, respectively	$2.0K
Common stock, $0.01 par value, 2,000,000,000 and 0 shares authorized as of June 30, 2026 and June 30, 2025, respectively; 203,617,555 shares issued and 200,550,458 shares outstanding (excluding treasury shares of 3,067,097) as of June 30, 2026, and 0 shares issued and 0 shares outstanding (excluding treasury shares of 0) as of June 30, 2025	$2.0M	$0
Additional paid-in capital	$1.6B	$0
Retained earnings (accumulated deficit)	$304.9M	-$597.0K
Treasury stock, at cost; 3,067,097 and 0 shares as of June 30, 2026, and June 30, 2025, respectively	-$10.5M	$0
Total stockholders' equity (deficit)	$1.9B	-$597.0K	$0
Total liabilities and stockholders' equity (deficit)	$2.1B	$0
Series A Preferred stock, par or stated value per share	$0.01	$0.01
Series A Preferred stock, shares authorized	100.0M shares	0 shares
Series A Preferred stock, shares outstanding	166.2K shares	0 shares
Series A Preferred stock, shares issued	166.2K shares	0 shares
Common stock, par or stated value per share	$0.01	$0.01
Common stock, shares authorized	2.0B shares	0 shares
Common stock, shares issued	203.6M shares	0 shares
Common stock, shares outstanding	200.6M shares	0 shares
Treasury stock, shares	3.1M shares	0 shares

Every line of the cash flow as filed: the last 1 fiscal year, latest first.⁵

Period ending	2026-06-30
Net income (loss)	$305.5M
IPR&D write-off from Sonnet acquisition	$35.6M
Unrealized gain on HYPE digital assets	-$709.9M
Loss on HYPE contribution commitment	$169.2M
Non cash - other expense	$12.4M
Gain (loss) from equity method investment in Guidant	$362.0K
Non cash staking and validator commission revenue	-$9.5M
Stock-based compensation	$893.0K
Non cash issuance of shares to Board of Directors	$104.0K
Deferred income tax	$183.5M
Prepaids and other current assets	-$1.3M
Receivable from related party	-$405.0K
Other non-current assets	$252.0K
Accounts payable	-$2.1M
Other current liabilities	-$3.8M
Net cash used in operating activities	-$19.1M
Purchases of HYPE digital assets	-$478.2M
Purchases of USDC	-$307.3M
Sales of USDC	$27.0K
Cash received for the acquisition of Sonnet	$10.3M
Equity method investment	-$2.3M
Net cash used in investing activities	-$777.4M
Proceeds from issuance of equity	$947.3M
Payments for equity issuance costs	-$2.3M
Repurchases of common stock	-$10.5M
Net cash provided by financing activities	$934.5M
Net increase (decrease) in cash and cash equivalents	$137.9M
Contributions of HYPE digital assets	$580.5M
Equity issued in acquisition of Sonnet	$39.6M
USDC converted into HYPE digital assets	$295.2M
Transfer of assets in exchange for equity method investment	$711.0K

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Leadership

Who has led Hyperliquid Strategies, and when. Pick a name to see everywhere that person has worked.

Chief executive officerDavid Ira Schamis Dec 10, 2025 to now¹⁰
Chief financial officerBrett Douglas Beldner Dec 4, 2025 to now¹¹
Chief operating officerJeroen Nieuwkoop Jan 7, 2026 to now¹²

Board members and other officers (7)

Board memberThomas C. King Dec 4, 2025 to now¹³
Board memberEric S. Rosengren Dec 10, 2025 to now¹⁴
Board memberJeffrey Tuder Dec 10, 2025 to now¹⁵
Board memberLawrence E. Leibowitz Dec 10, 2025 to now¹⁶
Board memberDavid Ira Schamis Dec 12, 2025 to now¹⁷
Board memberNailesh Bhatt Dec 12, 2025 to now¹⁸
Board memberAlbert D. Dyrness Dec 23, 2025 to now¹⁹

Timeline

Dec 10, 2025New chief executive David Ira Schamis becomes CEO¹⁰
Dec 3, 2025Went public Listed on NASDAQ¹
Jul 2, 2025Founded Founded¹

Filings

104 filings to the SEC since October 2021: 1 annual reports, 3 quarterly reports, 10 major events, 51 insider forms, 6 large holders, 33 other. The latest 20:

Oct 15, 20264 EDGAR
Oct 15, 20264 EDGAR
Oct 15, 20264 EDGAR
Oct 15, 20264 EDGAR
Oct 2, 2026ARS EDGAR
Oct 2, 2026DEF 14A EDGAR
Sep 30, 20264 EDGAR
Sep 30, 20264 EDGAR
Sep 30, 20264 EDGAR
Sep 23, 2026EFFECT EDGAR
Sep 23, 2026424B3 EDGAR
Sep 18, 20264 EDGAR
Sep 18, 20264 EDGAR
Sep 18, 20264 EDGAR
Sep 15, 2026PRE 14A EDGAR
Sep 15, 2026S-1 EDGAR
Sep 15, 20268-K EDGAR
Sep 14, 20268-K EDGAR
Sep 2, 20264 EDGAR
Sep 2, 20264 EDGAR

The 104 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

D1 Capital Partners L.P.SCHEDULE 13G/A, 2 filings Feb 17, 2026 to Aug 14, 2026²⁰
Rorschach Advisors LLCSCHEDULE 13G/A, 2 filings Dec 23, 2025 to Aug 6, 2026²¹
BlackRockSCHEDULE 13G, 1 filing Jul 28, 2026²²
Rorschach Capital LLCSCHEDULE 13G, 1 filing Jan 5, 2026²³

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

Fund	Shares	Value	Share of the fund	Change
BlackRock, Inc.	10,145,166	$79.8M	0.0%	+8,067,652
State Street Corp	8,997,601	$70.8M	0.0%	+5,850,572
Morgan Stanley	8,893,678	$70.0M	0.0%	+8,768,149
D1 Capital Partners L.P.	6,342,600	$49.9M	0.1%	−1,657,400
Paradigm Operations LP	5,709,852	$44.9M	4.4%	No change
BIT Capital GmbH	5,703,542	$44.9M	1.5%	+5,623,542
Invesco Ltd.	5,675,335	$44.7M	0.0%	New
Citadel Advisors LLC	4,730,869	$37.2M	0.0%	+3,586,471
Nearwater Capital Markets, Ltd	4,000,000	$31.5M	0.5%	New
Geode Capital Management, LLC	3,269,643	$25.7M	0.0%	+1,798,514
Goldman Sachs Group Inc	3,100,494	$24.4M	0.0%	+2,445,864
Slate Path Capital LP	2,719,000	$21.4M	0.3%	New
Pantera Capital Partners LP	2,415,118	$19.0M	18.7%	−297,810
Renaissance Technologies LLC	2,376,200	$18.7M	0.0%	New
Hel Ved Capital Management Ltd	2,285,080	$18.0M	2.5%	New
Jane Street Group, LLC	2,270,681	$17.9M	0.0%	+1,903,923
Wealth High Governance Asset Management Ltda.	2,171,952	$17.1M	1.8%	New
Voloridge Investment Management, LLC	1,754,788	$13.8M	0.1%	New
Millennium Management LLC	1,705,218	$13.4M	0.0%	+805,915
Vanguard Capital Management LLC	1,545,330	$12.2M	0.0%	+159,444
Arrington Capital Management, LLC	1,493,201	$11.8M	13.1%	+273,200
Norges Bank	1,416,600	$11.1M	0.0%	New
Discovery Capital Management, LLC / Ct	1,314,000	$10.3M	0.4%	New
ExodusPoint Capital Management, LP	1,233,114	$9.7M	0.1%	New
UBS Group AG	1,207,505	$9.5M	0.0%	+655,658

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

1
WikidataHyperliquid Strategies on Wikidata
2
SEC EDGARHyperliquid Strategies filings on SEC EDGAR
3
GLEIFHyperliquid Strategies LEI record (98450073FF7E1B63N260)
4
Company websiteHyperliquid Strategies logo
5
SEC EDGARHyperliquid Strategies 10-K for fiscal 2026
6
SEC EDGARHyperliquid Strategies filings on SEC EDGAR
7
SEC EDGARHyperliquid Strategies 10-Q for fiscal 2025
8
SEC EDGARHyperliquid Strategies 10-Q for fiscal 2026
9
SEC EDGARHyperliquid Strategies 10-Q for fiscal 2025
10
SEC EDGARDavid Ira Schamis, Chief executive officer
11
SEC EDGARBrett Douglas Beldner, Chief financial officer
12
SEC EDGARJeroen Nieuwkoop, Chief operating officer
13
SEC EDGARThomas C. King, Board member
14
SEC EDGAREric S. Rosengren, Board member
15
SEC EDGARJeffrey Tuder, Board member
16
SEC EDGARLawrence E. Leibowitz, Board member
17
SEC EDGARDavid Ira Schamis, Board member
18
SEC EDGARNailesh Bhatt, Board member
19
SEC EDGARAlbert D. Dyrness, Board member
20
SEC EDGARD1 Capital Partners L.P. SCHEDULE 13G/A on Hyperliquid Strategies
21
SEC EDGARRorschach Advisors LLC SCHEDULE 13G/A on Hyperliquid Strategies
22
SEC EDGARBlackRock SCHEDULE 13G on Hyperliquid Strategies
23
SEC EDGARRorschach Capital LLC SCHEDULE 13G on Hyperliquid Strategies