Highbridge Capital Management, LLC filed a Schedule 13G reporting a significant passive ownership position in Inflection Point Acquisition Corp. IV. Highbridge, as investment adviser to certain funds and accounts, reported beneficial ownership of 2,011,897 Class A ordinary shares.
This stake represents 7.9% of the Class A ordinary shares outstanding, based on 25,425,000 Class A ordinary shares outstanding as of November 12, 2025, as disclosed by the issuer. Highbridge reported sole voting and sole dispositive power over the 2,011,897 shares, with no shared voting or dispositive power.
The filing notes that the shares are directly held by funds it advises, including Highbridge Tactical Credit Master Fund, L.P., which alone has the right to receive dividends or sale proceeds from more than 5% of the outstanding Class A ordinary shares. Highbridge certifies the holdings are in the ordinary course of business and not for the purpose of changing or influencing control of the company.
Positive
None.
Negative
None.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Inflection Point Acquisition Corp. IV
(Name of Issuer)
Class A Ordinary Shares, par value $0.0001 per share
(Title of Class of Securities)
G1169T104
(CUSIP Number)
12/31/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
G1169T104
1
Names of Reporting Persons
Highbridge Capital Management, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
2,011,897.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
2,011,897.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,011,897.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
7.9 %
12
Type of Reporting Person (See Instructions)
IA, OO
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Inflection Point Acquisition Corp. IV
(b)
Address of issuer's principal executive offices:
1345 Avenue of the Americas, Fl 47, New York, NY 10105
Item 2.
(a)
Name of person filing:
This statement is filed by Highbridge Capital Management, LLC ("Highbridge" or the "Reporting Person"), a Delaware limited liability company and the investment adviser to certain funds and accounts (the "Highbridge Funds"), with respect to the Class A ordinary shares, par value $0.0001 per share ("Class A Ordinary Shares"), of Inflection Point Acquisition Corp. IV, a Cayman Islands exempted company (formerly known as Bleichroeder Acquisition Corp. I) (the "Issuer"), directly held by the Highbridge Funds.
The filing of this statement should not be construed as an admission that any of the foregoing persons or the Reporting Person is, for the purposes of Section 13 of the Securities Exchange Act of 1934, the beneficial owner of the securities reported herein.
(b)
Address or principal business office or, if none, residence:
The address of the business office of the Reporting Person is 390 Madison Avenue, 28th Floor, New York, NY 10017.
(c)
Citizenship:
Highbridge is a Delaware limited liability company.
(d)
Title of class of securities:
Class A Ordinary Shares, par value $0.0001 per share
(e)
CUSIP No.:
G1169T104
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
The information required by Item 4(a) is set forth in Row 9 of the cover page for the Reporting Person and is incorporated herein by reference.
The percentage set forth in this Schedule 13G is calculated based upon an aggregate of 25,425,000 Class A Ordinary Shares outstanding as of November 12, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025, filed with the Securities and Exchange Commission on November 12, 2025.
(b)
Percent of class:
7.9%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
The information required by Item 4(c)(i) is set forth in Row 5 of the cover page for the Reporting Person and is incorporated herein by reference.
(ii) Shared power to vote or to direct the vote:
The information required by Item 4(c)(ii) is set forth in Row 6 of the cover page for the Reporting Person and is incorporated herein by reference.
(iii) Sole power to dispose or to direct the disposition of:
The information required by Item 4(c)(iii) is set forth in Row 7 of the cover page for the Reporting Person and is incorporated herein by reference.
(iv) Shared power to dispose or to direct the disposition of:
The information required by Item 4(c)(iv) is set forth in Row 8 of the cover page for the Reporting Person and is incorporated herein by reference.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
See Item 2(a). The Highbridge Funds have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Class A Ordinary Shares reported herein. Highbridge Tactical Credit Master Fund, L.P., a Highbridge Fund, has the right to receive or the power to direct the receipt of dividends or the proceeds from the sale of more than 5% of the outstanding Class A Ordinary Shares.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
What ownership stake in BACQ does Highbridge Capital Management report?
Highbridge Capital Management reports beneficial ownership of 2,011,897 Class A ordinary shares of Inflection Point Acquisition Corp. IV (BACQ). This represents 7.9% of the outstanding Class A ordinary shares, based on 25,425,000 shares outstanding as of November 12, 2025.
How did Highbridge Capital Management obtain its BACQ position?
Highbridge Capital Management reports the BACQ shares are directly held by certain funds and accounts it advises, referred to as the Highbridge Funds. Highbridge acts as investment adviser and reports beneficial ownership but states the filing should not be construed as an admission of beneficial ownership for all purposes.
Is Highbridge’s BACQ stake a passive investment under Schedule 13G?
Yes. Highbridge certifies the BACQ securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer, consistent with a passive Schedule 13G filing under the SEC’s rules.
Which Highbridge fund holds more than 5% of BACQ’s Class A shares?
The filing states Highbridge Tactical Credit Master Fund, L.P., one of the Highbridge Funds, has the right to receive or direct the receipt of dividends or sale proceeds from more than 5% of BACQ’s outstanding Class A ordinary shares reported in this Schedule 13G.
What voting and dispositive power does Highbridge report over BACQ shares?
Highbridge reports sole voting power over 2,011,897 Class A ordinary shares and sole dispositive power over the same 2,011,897 shares, with no shared voting or shared dispositive power indicated for its BACQ position in the Schedule 13G.
How was Highbridge’s 7.9% ownership of BACQ calculated?
The 7.9% figure is based on 2,011,897 Class A ordinary shares held by Highbridge Funds divided by 25,425,000 Class A ordinary shares outstanding as of November 12, 2025, as reported in Inflection Point Acquisition Corp. IV’s Form 10-Q for the quarter ended September 30, 2025.
