person · Reporting owner

Bhatt Nailesh

Disclosed activity across 2 companies

Tapewire entity: 32154
SEC CIK: 0001806525

Reported relationships

Latest disclosed role at each company.

Company	Last reported as	Report date	Published
Hyperliquid Strategies IncPURR · Entity 681	Director	October 01, 2026	October 16, 2026

Disclosed balances

About these balances

Latest available filing per company, not a reconstructed current portfolio. Matching sequences show the last reported balance with all source rows expandable; grouping alone does not establish account ownership. Do not add unresolved positions together. Filings may omit unchanged positions, and amendments may correct only part of an older disclosure. Jointly reported shares are not necessarily this owner's personal holdings.

Hyperliquid Strategies Inc

Report date October 01, 2026 · Filed October 16, 2026

Security / award	Ownership account	Disclosed shares / units	Disclosure context
Common StockSEC Table I · non-derivative	Direct	48,951	Reported balance After 2026-10-01 transaction · row 1 1 source row Row 1 · 2026-10-01 · Grant · Acquired 2,037 · Balance 48,951 F1: Represents shares of common stock the reporting person elected to receive as compensation in lieu of cash pursuant to the Issuer's 2025 Equity Incentive Plan.

Filing footnotes · ownership attribution and instrument terms

F1: Represents shares of common stock the reporting person elected to receive as compensation in lieu of cash pursuant to the Issuer's 2025 Equity Incentive Plan.

Past disclosures · reporting ended (1)

No longer tracked through insider filings. These historical balances do not imply present ownership or a zero position.

Sonnet BioTherapeutics Holdings, Inc.

Report date December 02, 2025 · Filed December 04, 2025

Section 16 reporting ended · disclosed 2025-12-04. Current position is not established by this disclosure.

Security / award	Ownership account	Disclosed shares / units	Disclosure context
Common StockSEC Table I · non-derivative	Direct	0	Reported balance After 2025-12-02 transaction · row 1 1 source row Row 1 · 2025-12-02 · Disposition to issuer · Disposed 10,547 · Balance 0 F1: On December 2, 2025, pursuant to the Business Combination Agreement (the "BCA"), dated July 11, 2025, by and among Sonnet BioTherapeutics Holdings, Inc. (the "Company"), Rorschach I LLC ("Rorschach"), Hyperliquid Strategies Inc ("HSI"), TBS Merger Sub Inc ("Company Merger Sub") and Rorschach Merger Sub, LLC ("Rorschach Merger Sub"), Rorschach Merger Sub merged with and into Rorschach with Rorschach surviving the merger as a direct wholly owned subsidiary of HSI and immediately following such merger, Company Merger Sub merged with and into the Company with the Company surviving the merger as a direct wholly owned subsidiary of HSI (the "Company Merger"). F2: (Continued from footnote 1) Includes (i) 10,000 restricted stock units granted on July 11, 2025 which, as a result of the Company Merger, vested at the Effective Time and (ii) 547 vested restricted stock units held by the Reporting Person at the Effective Time. Pursuant to the BCA, each restricted stock unit was exchanged at the Effective Time for (i) one-fifth of a share of HSI Common Stock and (ii) one CVR. F3: All amounts reflect the Company's 1:22 reverse stock split effective as of August 31, 2023 and 1:8 reverse stock split effective as of September 30, 2024.

Filing footnotes · ownership attribution and instrument terms

F1: On December 2, 2025, pursuant to the Business Combination Agreement (the "BCA"), dated July 11, 2025, by and among Sonnet BioTherapeutics Holdings, Inc. (the "Company"), Rorschach I LLC ("Rorschach"), Hyperliquid Strategies Inc ("HSI"), TBS Merger Sub Inc ("Company Merger Sub") and Rorschach Merger Sub, LLC ("Rorschach Merger Sub"), Rorschach Merger Sub merged with and into Rorschach with Rorschach surviving the merger as a direct wholly owned subsidiary of HSI and immediately following such merger, Company Merger Sub merged with and into the Company with the Company surviving the merger as a direct wholly owned subsidiary of HSI (the "Company Merger").

F2: (Continued from footnote 1) Includes (i) 10,000 restricted stock units granted on July 11, 2025 which, as a result of the Company Merger, vested at the Effective Time and (ii) 547 vested restricted stock units held by the Reporting Person at the Effective Time. Pursuant to the BCA, each restricted stock unit was exchanged at the Effective Time for (i) one-fifth of a share of HSI Common Stock and (ii) one CVR.

F3: All amounts reflect the Company's 1:22 reverse stock split effective as of August 31, 2023 and 1:8 reverse stock split effective as of September 30, 2024.

Transaction history

JSON API

Purchases/sales include open-market and private transactions. Plan disclosure applies to the filing; individual rows may differ. “Not disclosed” is not “unplanned.”

The cutoff filters transaction history only. Company summaries and owner relationships show the latest available disclosures. Parser corrections can improve historical records.

Transaction date	Company	Activity / security	Shares / units	Reported price	Reported value	Details
October 01, 2026 Filed Oct 16, 2026 01:38 UTC	Hyperliquid Strategies Inc PURR · Entity 681	GrantCommon Stock	2,037	Not disclosed	Not disclosed	Disclosure SEC source: 0001193125-26-423229 · ownership.xml · nonDerivative · entry 1 Bhatt Nailesh · CIK 0001806525 · Director 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 48,951 F1 · price: Represents shares of common stock the reporting person elected to receive as compensation in lieu of cash pursuant to the Issuer's 2025 Equity Incentive Plan. F1 · acquired: Represents shares of common stock the reporting person elected to receive as compensation in lieu of cash pursuant to the Issuer's 2025 Equity Incentive Plan. Read SEC document
July 01, 2026 Filed Jul 6, 2026 20:51 UTC	Hyperliquid Strategies Inc PURR · Entity 681	GrantCommon Stock	1,588	Not disclosed	Not disclosed	Disclosure SEC source: 0001193125-26-296312 · ownership.xml · nonDerivative · entry 1 Bhatt Nailesh · CIK 0001806525 · Director 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 46,914 F1 · price: Represents shares of common stock the reporting person elected to receive as compensation in lieu of cash pursuant to the Issuer's 2025 Equity Incentive Plan. F1 · acquired: Represents shares of common stock the reporting person elected to receive as compensation in lieu of cash pursuant to the Issuer's 2025 Equity Incentive Plan. Read SEC document
April 01, 2026 Filed Apr 2, 2026 18:54 UTC	Hyperliquid Strategies Inc PURR · Entity 681	GrantCommon Stock	2,455	$0.00	$0.00	Disclosure SEC source: 0001193125-26-139800 · ownership.xml · nonDerivative · entry 1 Bhatt Nailesh · CIK 0001806525 · Director 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 45,326 F1 · price: Represents restricted shares of common stock the reporting person elected to receive as compensation in lieu of cash pursuant to the Issuer's 2025 Equity Incentive Plan. F1 · acquired: Represents restricted shares of common stock the reporting person elected to receive as compensation in lieu of cash pursuant to the Issuer's 2025 Equity Incentive Plan. Read SEC document
February 09, 2026 Filed Feb 12, 2026 00:34 UTC	Hyperliquid Strategies Inc PURR · Entity 681	GrantCommon Stock	40,789	$0.00	$0.00	Disclosure SEC source: 0001193125-26-047185 · ownership.xml · nonDerivative · entry 1 Bhatt Nailesh · CIK 0001806525 · Director 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 42,871 F1 · price: Represents restricted stock units scheduled to vest over a three-year period, with one-third vesting on each of December 2, 2026, December 2, 2027 and December 2, 2028. F1 · acquired: Represents restricted stock units scheduled to vest over a three-year period, with one-third vesting on each of December 2, 2026, December 2, 2027 and December 2, 2028. Read SEC document
December 02, 2025 Filed Dec 4, 2025 02:12 UTC	Sonnet BioTherapeutics Holdings, Inc. SONN · Entity 72220	Disposition to issuerCommon Stock	10,547	Not disclosed	Not disclosed	Disclosure SEC source: 0001493152-25-026066 · ownership.xml · nonDerivative · entry 1 Bhatt Nailesh · CIK 0001806525 · Director 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 0 F1 · shares: On December 2, 2025, pursuant to the Business Combination Agreement (the "BCA"), dated July 11, 2025, by and among Sonnet BioTherapeutics Holdings, Inc. (the "Company"), Rorschach I LLC ("Rorschach"), Hyperliquid Strategies Inc ("HSI"), TBS Merger Sub Inc ("Company Merger Sub") and Rorschach Merger Sub, LLC ("Rorschach Merger Sub"), Rorschach Merger Sub merged with and into Rorschach with Rorschach surviving the merger as a direct wholly owned subsidiary of HSI and immediately following such merger, Company Merger Sub merged with and into the Company with the Company surviving the merger as a direct wholly owned subsidiary of HSI (the "Company Merger"). F2 · shares: (Continued from footnote 1) Includes (i) 10,000 restricted stock units granted on July 11, 2025 which, as a result of the Company Merger, vested at the Effective Time and (ii) 547 vested restricted stock units held by the Reporting Person at the Effective Time. Pursuant to the BCA, each restricted stock unit was exchanged at the Effective Time for (i) one-fifth of a share of HSI Common Stock and (ii) one CVR. F3 · shares: All amounts reflect the Company's 1:22 reverse stock split effective as of August 31, 2023 and 1:8 reverse stock split effective as of September 30, 2024. F1 · price: On December 2, 2025, pursuant to the Business Combination Agreement (the "BCA"), dated July 11, 2025, by and among Sonnet BioTherapeutics Holdings, Inc. (the "Company"), Rorschach I LLC ("Rorschach"), Hyperliquid Strategies Inc ("HSI"), TBS Merger Sub Inc ("Company Merger Sub") and Rorschach Merger Sub, LLC ("Rorschach Merger Sub"), Rorschach Merger Sub merged with and into Rorschach with Rorschach surviving the merger as a direct wholly owned subsidiary of HSI and immediately following such merger, Company Merger Sub merged with and into the Company with the Company surviving the merger as a direct wholly owned subsidiary of HSI (the "Company Merger"). F2 · price: (Continued from footnote 1) Includes (i) 10,000 restricted stock units granted on July 11, 2025 which, as a result of the Company Merger, vested at the Effective Time and (ii) 547 vested restricted stock units held by the Reporting Person at the Effective Time. Pursuant to the BCA, each restricted stock unit was exchanged at the Effective Time for (i) one-fifth of a share of HSI Common Stock and (ii) one CVR. Read SEC document
December 02, 2025 Filed Dec 12, 2025 16:55 UTC	Hyperliquid Strategies Inc PURR · Entity 681	OtherCommon Stock	2,082	Not disclosed	Not disclosed	Disclosure SEC source: 0001193125-25-317206 · ownership.xml · nonDerivative · entry 1 Bhatt Nailesh · CIK 0001806525 · Director 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 2,082 F1 · price: On December 2, 2025, Hyperliquid Strategies Inc (the "Company") completed its previously announced business combination (the "Closing"), pursuant to the Business Combination Agreement, dated as of July 11, 2025 (as amended on September 22, 2025, the "BCA"), by and among the Company, Sonnet BioTherapeutics Holdings, Inc. ("Sonnet"), Rorschach I LLC, TBS Merger Sub Inc. and Rorschach Merger Sub, LLC . In connection with the Closing, Ms. Nailesh Bhatt received 2,082 shares of common stock, par value $0.01 per share, of the Company, in exchange of certain securities of Sonnet Ms. Bhatt held prior to the Closing. Read SEC document
July 11, 2025 Filed Jul 15, 2025 23:35 UTC	Sonnet BioTherapeutics Holdings, Inc. SONN · Entity 72220	GrantCommon Stock	10,000	Not disclosed	Not disclosed	Disclosure SEC source: 0001641172-25-019777 · ownership.xml · nonDerivative · entry 1 Bhatt Nailesh · CIK 0001806525 · Director 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 10,547 F1 · price: On July 11, 2025, the Reporting Person was granted 20,000 restricted stock units, which will be settled in shares of common stock, par value $0.0001. The restricted stock units vest as to 100% of the restricted stock units on the earlier of (i) January 8, 2026, or (ii) the date of a "Change in Control" (as defined under the Issuer's 2020 Omnibus Equity Incentive Plan). F2 · balance_after: Includes unvested restricted stock units. F3 · balance_after: All amounts reflect the Issuer's 1:22 reverse stock split effective as of August 31, 2023 and 1:8 reverse stock split effective as of September 30, 2024. Read SEC document
December 11, 2023 Filed Dec 6, 2024 02:55 UTC	Sonnet BioTherapeutics Holdings, Inc. SONN · Entity 72220	GrantCommon Stock	373	Not disclosed	Not disclosed	Disclosure SEC source: 0001493152-24-048959 · ownership.xml · nonDerivative · entry 1 Bhatt Nailesh · CIK 0001806525 · Director 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 547 F1 · price: On December 11, 2023, the Reporting Person was granted 373 restricted stock units, which will be settled in shares of common stock, par value $0.0001. The restricted stock units vest as to 100% of the restricted stock units on January 1, 2025. F2 · balance_after: Includes unvested restricted stock units. F3 · balance_after: All amounts reflect the Issuer's 1:22 reverse stock split effective as of August 31, 2023 and 1:8 reverse stock split effective as of September 30, 2024. Read SEC document
May 17, 2023 Filed May 18, 2023 12:00 UTC	Sonnet BioTherapeutics Holdings, Inc. SONN · Entity 72220	PurchaseCommon Stock	25,000	$0.23	$5,800.00	Disclosure SEC source: 0001493152-23-018038 · ownership.xml · nonDerivative · entry 1 Bhatt Nailesh · CIK 0001806525 · Director 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 30,733 F1 · balance_after: Includes unvested RSUs. Read SEC document
December 14, 2022 Filed Dec 22, 2022 21:30 UTC	Sonnet BioTherapeutics Holdings, Inc. SONN · Entity 72220	GrantCommon Stock	3,770	Not disclosed	Not disclosed	Disclosure SEC source: 0001493152-22-036317 · ownership.xml · nonDerivative · entry 1 Bhatt Nailesh · CIK 0001806525 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 31,255 F1 · shares: On December 14, 2022, the Reporting Person was granted 3,770 restricted stock units, which will be settled in shares of common stock, par value $0.0001. The restricted stock units vest as to 100% of the restricted stock units on January 1, 2024. F1 · price: On December 14, 2022, the Reporting Person was granted 3,770 restricted stock units, which will be settled in shares of common stock, par value $0.0001. The restricted stock units vest as to 100% of the restricted stock units on January 1, 2024. F2 · balance_after: Includes unvested RSUs. Read SEC document
December 15, 2021 Filed Apr 8, 2022 20:30 UTC	Sonnet BioTherapeutics Holdings, Inc. SONN · Entity 72220	GrantCommon Stock	14,152	Not disclosed	Not disclosed	Disclosure SEC source: 0001493152-22-009479 · ownership.xml · nonDerivative · entry 1 Bhatt Nailesh · CIK 0001806525 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 27,485 F1 · shares: On December 15, 2021, the Reporting Person was granted 14,152 restricted stock units, which will be settled in shares of common stock, par value $0.0001. The restricted stock units vest as to 100% of the restricted stock units on January 1, 2023. F1 · price: On December 15, 2021, the Reporting Person was granted 14,152 restricted stock units, which will be settled in shares of common stock, par value $0.0001. The restricted stock units vest as to 100% of the restricted stock units on January 1, 2023. Read SEC document
July 02, 2020 Filed Jul 2, 2020 22:16 UTC	Sonnet BioTherapeutics Holdings, Inc. SONN · Entity 72220	GrantCommon Stock	8,005	$0.00	$0.00	Disclosure SEC source: 0001493152-20-012569 · ownership.xml · nonDerivative · entry 1 Bhatt Nailesh · CIK 0001806525 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 13,333 F1 · shares: On July 2, 2020, the Reporting Person was granted 8,005 restricted stock units, which will be settled in shares of common stock, par value $0.0001. The restricted stock units vest as to 50% of the restricted stock units on April 2, 2021 and 50% of the restricted stock units on April 2, 2022. Read SEC document
April 01, 2020 Filed Apr 4, 2020 01:01 UTC	Sonnet BioTherapeutics Holdings, Inc. SONN · Entity 72220	GrantCommon Stock	5,328	Not disclosed	Not disclosed	Disclosure SEC source: 0001493152-20-005840 · ownership.xml · nonDerivative · entry 1 Bhatt Nailesh · CIK 0001806525 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 5,328 F1 · price: Shares of common stock of the corporation known as Sonnet BioTherapeutics, Inc. ("Sonnet Sub") were converted into shares of the Issuer pursuant to that certain Agreement and Plan of Merger, dated as of October 10, 2019, as amended, by and among the Issuer, Sonnet Sub and Biosub Inc., a Delaware corporation (the "Merger Agreement"). Pursuant to the terms of the Merger Agreement, each share of Sonnet Sub common stock was exchanged for approximately 0.106572 shares of the Issuer's common stock, subject to adjustment for any reverse stock split. Prior to the merger, the Issuer effected a reverse stock split at a ratio of one new share for every 26 shares of Issuer common stock outstanding and the Issuer changed its name to Sonnet BioTherapeutics Holdings, Inc. All share numbers reflect the reverse stock split. Read SEC document

Value uses the disclosed total when available, otherwise shares × reported transaction price. It is not an estimate of exercise cash cost or investment performance.