CSS LLC reports 3.04M-share position in Wolfspeed (WOLF) including convertible rights

Rhea-AI Filing Summary

WOLFSPEED, INC. ownership notice from CSS LLC reports beneficial ownership of 3,036,553 shares, representing 5.91% of common stock. CSS LLC’s reported position includes 1,655,693 shares issuable on conversion of a 2.5% Convertible Note due 2031, 1,380,810 shares issuable on conversion of a 3.5% Convertible Note due 2031, and 50 shares from a listed option in June 2026. The company reported 48,339,081 shares outstanding as of 5/1/2026.

Insights

Institutional Ownership Analyst

CSS LLC holds a near-6% stake in Wolfspeed, partly via convertible notes.

CSS LLC reports beneficial ownership of 3,036,553 common shares, or 5.91%. The filing states this percent "includes shares CSS, LLC has the right to acquire now" from two convertible notes and one listed option.

The holdings combine current shares and conversion rights: 1,655,693 shares from a 2.5% convertible note due 2031 and 1,380,810 shares from a 3.5% convertible note due 2031. Subsequent filings will show whether conversions are effected.

Capital Markets Strategist

Conversion rights create potential overhang but cash-flow treatment is not stated here.

The filing lists conversion rights totaling 3,036,553 shares when combined with currently held shares; it also cites company outstanding shares of 48,339,081 as of 5/1/2026. The excerpt attributes the calculated percentage to convertible interests.

Cash-flow treatment and timing for any conversion or sale are not described in the excerpt; trading or issuance outcomes will depend on holder actions and any contract terms not shown here.

Key Figures

Beneficially owned: 3,036,553 shares Percent of class: 5.91% Convertible note (2.5%): 1,655,693 shares +3 more

6 metrics

Beneficially owned 3,036,553 shares reported ownership amount

Percent of class 5.91% percent of common stock reported by CSS LLC

Convertible note (2.5%) 1,655,693 shares conversion of 2.5% Convertible Note due 2031

Convertible note (3.5%) 1,380,810 shares conversion of 3.5% Convertible Note due 2031

Shares outstanding 48,339,081 shares company-reported outstanding shares as of 5/1/2026

Listed option 50 shares June 2026 listed option referenced in exhibit

Key Terms

Convertible Note, Beneficially owned, Schedule 13G

3 terms

Convertible Note financial

"conversion of the 2.5% Convertible Note due 2031; conversion of the 3.5% Convertible Note due 2031"

A convertible note is a type of loan that a company gets from investors, which can later be turned into company shares instead of being paid back in cash. It matters because it helps startups raise money quickly without setting a fixed value for the company right away, making it easier to grow and attract investors.

Beneficially owned regulatory

"Amount beneficially owned: 3,036,553 (b) Percent of class: 5.91 %"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Schedule 13G regulatory

"form_type: SCHEDULE 13G"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

WOLFSPEED, INC.

(Name of Issuer)

Common

(Title of Class of Securities)

97785W106

(CUSIP Number)

06/05/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 97785W106

1

Names of Reporting Persons

CSS LLC/IL

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

ILLINOIS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 3,036,553.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,036,553.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,036,553.00

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)

5.91 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: WOLFSPEED, INC.
(b)	Address of issuer's principal executive offices: 4600 SILICON DR, DURHAM, NORTH CAROLINA 27703
Item 2.
(a)	Name of person filing: CSS LLC/IL
(b)	Address or principal business office or, if none, residence: 1 NORTH WACKER DRIVE SUITE 3075 CHICAGO, Illinois 60606
(c)	Citizenship: CSS LLC/IL - ILLINOIS
(d)	Title of class of securities: Common
(e)	CUSIP Number(s): 97785W106
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: 3,036,553
(b)	Percent of class: 5.91 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: CSS LLC/IL - 3,036,553
	(ii) Shared power to vote or to direct the vote: CSS LLC/IL - 0
	(iii) Sole power to dispose or to direct the disposition of: CSS LLC/IL - 3,036,553
	(iv) Shared power to dispose or to direct the disposition of: CSS LLC/IL - 0
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.
	Not Applicable
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 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.

CSS LLC/IL

Signature:	Mitchell R. Bialek
Name/Title:	Mitchell R. Bialek/CCO
Date:	06/08/2026

Exhibit Information

Percentage calculated on shares which CSS, LLC does not own now, but includes shares CSS, LLC has the right to acquire now. 1,655,693 Common Shares from conversion of the 2.5% Convertible Note due 2031; 1,380,810 Common Shares from conversion of the 3.5% Convertible Note due 2031; and 50 Common Share from a June 2026 listed Option. Number of outstanding shares reported by Company as of 5/1/2026 was 48,339,081 shares.

FAQ

What stake does CSS LLC report in WOLFSPEED (WOLF)?

CSS LLC reports beneficial ownership of 3,036,553 shares, equal to 5.91% of common stock as presented in the filing. This figure reflects both currently held shares and conversion rights described in the excerpt.

How many shares can CSS LLC acquire from convertible notes?

The filing lists 1,655,693 shares from conversion of a 2.5% Convertible Note due 2031 and 1,380,810 shares from conversion of a 3.5% Convertible Note due 2031, as stated in the exhibit information.

What is Wolfspeed’s shares outstanding figure cited in the filing?

The filing quotes company-reported shares outstanding of 48,339,081 shares as of 5/1/2026. That number is presented in the exhibit information accompanying CSS LLC’s ownership statement.

Does the filing state whether CSS LLC has sole voting or dispositive power?

Yes. CSS LLC reports sole voting power over 3,036,553 shares and sole dispositive power over 3,036,553 shares, with no shared voting or dispositive power listed in the ownership section.

Are the percentages calculated including conversion rights?

The filing explicitly states the percentage is calculated on shares CSS LLC does not own now but has the right to acquire, including the two convertible notes and a listed option referenced in the exhibit information.