Tearsheet

Leapfrog Acquisition (LFAC)

Market Price (3/14/2026): $9.93 | Market Cap: $176.0 Mil
Sector: Financials | Industry: Multi-Sector Holdings

Leapfrog Acquisition (LFAC)

Market Price (3/14/2026): $9.93
Market Cap: $176.0 Mil
Sector: Financials
Industry: Multi-Sector Holdings

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Low stock price volatility
Vol 12M is 8.8%

Weak multi-year price returns
2Y Excs Rtn is -41%, 3Y Excs Rtn is -74%

0	Low stock price volatility Vol 12M is 8.8%
1	Weak multi-year price returns 2Y Excs Rtn is -41%, 3Y Excs Rtn is -74%

Valuation, Metrics & Events

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Metric

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Price Chart

Return (1M):

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Why The Stock Moved

Qualitative Assessment

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Stock Movement Drivers

Fundamental Drivers

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Market Drivers

11/30/2025 to 3/13/2026

	Return	Correlation
LFAC	-8.5%
Market (SPY)	-3.1%	-40.9%
Sector (XLF)	-8.3%	-13.7%

Fundamental Drivers

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Market Drivers

8/31/2025 to 3/13/2026

	Return	Correlation
LFAC	-8.5%
Market (SPY)	3.0%	-40.9%
Sector (XLF)	-9.1%	-13.7%

Fundamental Drivers

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Market Drivers

2/28/2025 to 3/13/2026

	Return	Correlation
LFAC	-8.5%
Market (SPY)	12.4%	-40.9%
Sector (XLF)	-5.3%	-13.7%

Fundamental Drivers

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Market Drivers

2/28/2023 to 3/13/2026

	Return	Correlation
LFAC	-4.4%
Market (SPY)	73.4%	-8.2%
Sector (XLF)	43.1%	-5.1%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
LFAC Return	-	4%	6%	0%	0%	-8%	1%
Peers Return					0%	0%	1%
S&P 500 Return	27%	-19%	24%	23%	16%	-1%	80%
Monthly Win Rates [3]
LFAC Win Rate	-	83%	75%	0%	0%	67%
Peers Win Rate					25%	33%
S&P 500 Win Rate	75%	42%	67%	75%	67%	33%
Max Drawdowns [4]
LFAC Max Drawdown	-	0%	0%	0%	0%	-9%
Peers Max Drawdown					0%	-0%
S&P 500 Max Drawdown	-1%	-25%	-1%	-2%	-15%	-2%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: SVAC.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/13/2026 (YTD)

How Low Can It Go

Unique Key	Event	LFAC	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-1.2%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	1.2%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	118 days	464 days

Compare to SVAC

In The Past

Leapfrog Acquisition's stock fell -1.2% during the 2022 Inflation Shock from a high on 6/17/2022. A -1.2% loss requires a 1.2% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Leapfrog Acquisition (LFAC)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

LF Capital Acquisition Corp. II does not have significant operations. It focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses or entities. It intends to focus its search on a business in the financial services, technology, digital asset, or consumer products sectors. The company is based in Dallas, Texas.

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Business Combinations (Mergers & Acquisitions): The company's primary activity is to identify and execute a merger, capital stock exchange, asset acquisition, stock purchase, or reorganization with one or more private businesses or entities.

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Leapfrog Acquisition (LFAC) is a Special Purpose Acquisition Company (SPAC). Its primary business purpose is to identify and complete a merger, acquisition, or similar business combination with an operating company. As such, LFAC does not currently have significant operations or traditional customers that purchase goods or services from it.

Therefore, Leapfrog Acquisition does not have major customers to list, as its business model is centered on acquiring another entity rather than selling products or services to customers.

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The widespread decline in investor confidence in the Special Purpose Acquisition Company (SPAC) market, driven by a history of underperforming mergers, high redemption rates, and increased regulatory scrutiny, fundamentally threatens the viability of the SPAC business model. This trend makes it increasingly difficult for SPACs like LFAC to attract investors, identify suitable acquisition targets, and complete successful mergers, as private companies and public market participants may increasingly opt for traditional initial public offerings (IPOs), direct listings, or remaining private.

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Interactive Breakdown

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Better Bets vs. Leapfrog Acquisition (LFAC)

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Latest Trefis Analyses

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Trade Ideas

Select ideas related to LFAC.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
NDAQ_2282026_Insider_Buying_45D_2Buy_200K	02282026	NDAQ	Nasdaq	Insider	Insider Buys 45DStrong Insider Buying Companies with multiple insider buys in the last 45 days	0.0%	0.0%	0.0%
JEF_2272026_Dip_Buyer_ValueBuy	02272026	JEF	Jefferies Financial	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	0.0%	0.0%	0.0%
PAYO_2272026_Dip_Buyer_High_CFO_Margins_ExInd_DE	02272026	PAYO	Payoneer Global	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	0.0%	0.0%	0.0%
FOUR_2272026_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	02272026	FOUR	Shift4 Payments	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	0.0%	0.0%	0.0%
COIN_2202026_Dip_Buyer_High_CFO_Margins_ExInd_DE	02202026	COIN	Coinbase Global	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	2.6%	2.6%	-6.5%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
AIV	Apartment Investment & Management	0.6	52.5%	-29.1%
ORKA	Oruka Therapeutics	1.8	25.0%	32.0%
APEI	American Public Education	1.0	21.2%	52.5%
NP	Neptune Insurance	3.0	20.2%	-25.0%
WOOF	Petco Health and Wellness	1.0	12.1%	28.8%
SANA	Sana Biotechnology	0.9	8.7%	-17.4%
AHCO	AdaptHealth	1.4	8.7%	6.4%
GLXY	Galaxy Digital	3.9	8.3%	-0.0%
BLLN	BillionToOne	3.1	7.9%	-15.6%
LWLG	Lightwave Logic	1.0	7.5%	134.9%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
BW	Babcock & Wilcox Enterprises	1.1	-19.5%	65.8%
EVCM	EverCommerce	1.8	-16.6%	-17.0%
ULTA	Ulta Beauty	24.0	-14.2%	-11.5%
GAU	Galiano Gold	0.7	-12.0%	1.2%
HNRG	Hallador Energy	0.7	-11.5%	-10.2%
MEOH	Methanex	4.0	-10.9%	30.3%
PVLA	Palvella Therapeutics	1.4	-10.6%	16.6%
METCB	Ramaco Resources	0.6	-10.2%	-11.2%
SSII	SS Innovations International	0.9	-10.1%	-21.5%
CACC	Credit Acceptance	4.9	-9.4%	1.0%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
LWLG	Lightwave Logic	1.0	81.2%	134.9%
HIMS	Hims & Hers Health	5.6	57.4%	-23.7%
OCGN	Ocugen	0.8	54.0%	83.7%
WOOF	Petco Health and Wellness	1.0	52.1%	28.8%
AXTI	AXT	2.1	50.9%	198.8%
XENE	Xenon Pharmaceuticals	4.4	31.7%	23.2%
APEI	American Public Education	1.0	28.1%	52.5%
DOCN	DigitalOcean	6.3	26.0%	42.6%
SNDK	SanDisk	97.3	25.5%	178.7%
NVTS	Navitas Semiconductor	2.1	23.2%	41.5%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
RHLD	Resolute Management	0.9	-32.0%	-46.2%
OLMA	Olema Pharmaceuticals	1.3	-31.7%	-41.2%
FWRD	Forward Air	0.5	-28.0%	-36.8%
CDRE	Cadre	1.3	-27.3%	-22.3%
FICO	Fair Isaac	26.8	-23.4%	-33.1%
PAR	PAR Technology	0.6	-23.2%	-59.3%
IOVA	Iovance Biotherapeutics	1.4	-22.8%	45.1%
CNC	Centene	16.9	-21.1%	-16.3%
GRPN	Groupon	0.4	-21.0%	-45.3%
BW	Babcock & Wilcox Enterprises	1.1	-19.8%	65.8%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
FSLY	Fastly	3.6	164.0%	141.5%
LWLG	Lightwave Logic	1.0	114.4%	134.9%
AAOI	Applied Optoelectronics	6.1	100.0%	177.7%
SOC	Sable Offshore	1.7	99.6%	86.6%
CRCL	Circle Internet	26.5	99.4%	45.5%
DAWN	Day One Biopharmaceuticals	2.2	89.8%	128.6%
AXTI	AXT	2.1	82.3%	198.8%
OCGN	Ocugen	0.8	75.9%	83.7%
ACLX	Arcellx	6.5	63.7%	75.4%
AMPX	Amprius Technologies	2.3	61.6%	127.5%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
GRAL	GRAIL	1.6	-57.1%	-49.7%
MNKD	MannKind	0.8	-51.7%	-51.1%
EOSE	Eos Energy Enterprises	1.6	-50.7%	-50.2%
CWH	Camping World	0.4	-49.7%	-33.6%
FWRD	Forward Air	0.5	-46.8%	-36.8%
XMTR	Xometry	1.9	-42.0%	-37.9%
RHLD	Resolute Management	0.9	-41.7%	-46.2%
QDEL	QuidelOrtho	1.2	-40.6%	-40.1%
HRI	Herc	3.6	-39.8%	-26.3%
DCH	Dauch	0.6	-39.7%	-36.9%

Peer Comparisons

Peers to compare with:

Financials

	LFAC	SVAC	Median
Name	Leapfrog.	Spring V.
Mkt Price	9.92	10.17	10.04
Mkt Cap	-	0.3	0.3
Rev LTM	-	-	-
Op Inc LTM	-	-	-
FCF LTM	-	-	-
FCF 3Y Avg	-	-	-
CFO LTM	-	-	-
CFO 3Y Avg	-	-	-

Growth & Margins

	LFAC	SVAC	Median
Name	Leapfrog.	Spring V.
Rev Chg LTM	-	-	-
Rev Chg 3Y Avg	-	-	-
Rev Chg Q	-	-	-
QoQ Delta Rev Chg LTM	-	-	-
Op Mgn LTM	-	-	-
Op Mgn 3Y Avg	-	-	-
QoQ Delta Op Mgn LTM	-	-	-
CFO/Rev LTM	-	-	-
CFO/Rev 3Y Avg	-	-	-
FCF/Rev LTM	-	-	-
FCF/Rev 3Y Avg	-	-	-

Valuation

	LFAC	SVAC	Median
Name	Leapfrog.	Spring V.
Mkt Cap	-	0.3	0.3
P/S	-	-	-
P/EBIT	-	-	-
P/E	-	-	-
P/CFO	-	-	-
Total Yield	-	-	-
Dividend Yield	-	0.0%	0.0%
FCF Yield 3Y Avg	-	-	-
D/E	-	0.0	0.0
Net D/E	-	0.0	0.0

Returns

	LFAC	SVAC	Median
Name	Leapfrog.	Spring V.
1M Rtn	-0.3%	-4.1%	-2.2%
3M Rtn	-8.5%	-1.1%	-4.8%
6M Rtn	-8.5%	0.7%	-3.9%
12M Rtn	-8.5%	0.7%	-3.9%
3Y Rtn	-4.9%	0.7%	-2.1%
1M Excs Rtn	2.1%	-1.8%	0.2%
3M Excs Rtn	-6.9%	0.4%	-3.2%
6M Excs Rtn	-11.3%	-2.2%	-6.8%
12M Excs Rtn	-29.5%	-20.3%	-24.9%
3Y Excs Rtn	-74.4%	-69.0%	-71.7%

FDIC Bank Data

Bank Capital

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Bank Deposits

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Bank Assets

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Bank Loans

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FDA Approved Drugs Data

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Financials

Annual
Quarterly

$ Mil \| FY: null/null	LTM
Period End	9/30/2025
Filing Date	1/20/2026
Key Financials
Total Revenue	-
Net Income	-
EPS	-
Growth Rates
Total Revenue Growth	-
Net Income Growth	-
Margins
Net Income Margin	-
Cash & Debt
Total Cash	�
Total Debt	0
Net Debt / (Cash)	�
Cash Flows
Net Cash from Operations	-
Free Cash from Operations	-
Returns to Shareholders
Dividends	0
Share Repurchases	-0

$ Mil \| FY: null/null	2025Q3
Period End	9/30/2025
Filing Date	1/20/2026
Key Financials Quarterly
Total Revenue	0
Net Income	-0
EPS	-0.00
Key Financials TTM
Total Revenue TTM	-
Net Income TTM	-
Growth Rates Quarterly
Total Revenue Growth	-
Net Income Growth	-
Margins Quarterly
Net Income Margin	-
Cash & Debt
Total Cash	-
Total Debt	0
Net Debt / (Cash)	-
Cash Flows Quarterly
FCF from Operations	0
Cash Flows TTM
FCF from Operations TTM	-
Returns to Shareholders Quarterly
Dividends	0
Share Repurchases	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	-243.3%
Return on Invested Capital (ROIC) TTM
ROIC TTM	-

Segment Financials

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	1M	2M	3M	6M	1Y	3Y
Beta	-0.16	-0.31	-0.24	-0.10	-0.02	-0.01
Up Beta	-0.27	-0.07	-0.18	-0.04	0.01	0.00
Down Beta	-0.17	-0.07	-0.07	-0.02	-0.00	-0.00
Up Capture	-8%	-80%	-56%	-21%	-5%	-0%
Bmk +ve Days	9	20	31	70	142	431
Stock +ve Days	7	8	8	8	8	47
Down Capture	-17%	-12%	-9%	-5%	-2%	-3%
Bmk -ve Days	12	21	30	54	109	320
Stock -ve Days	4	6	6	6	6	24

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with LFAC
LFAC	0.1%	4.6%	-0.70	-
Sector ETF (XLF)	3.6%	19.3%	0.06	-14.3%
Equity (SPY)	19.6%	18.9%	0.81	-55.9%
Gold (GLD)	71.9%	26.3%	2.05	-47.7%
Commodities (DBC)	19.3%	17.3%	0.89	-43.1%
Real Estate (VNQ)	6.2%	16.3%	0.19	-6.3%
Bitcoin (BTCUSD)	-15.3%	44.2%	-0.25	-58.8%

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with LFAC
LFAC	1.1%	3.7%	1.11	-
Sector ETF (XLF)	9.3%	18.7%	0.38	8.9%
Equity (SPY)	13.1%	17.0%	0.61	5.9%
Gold (GLD)	24.1%	17.3%	1.14	-12.5%
Commodities (DBC)	11.2%	19.0%	0.47	-4.5%
Real Estate (VNQ)	4.8%	18.8%	0.16	2.6%
Bitcoin (BTCUSD)	6.3%	56.7%	0.33	-2.6%

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with LFAC
LFAC	0.6%	3.7%	1.11	-
Sector ETF (XLF)	12.5%	22.2%	0.52	8.9%
Equity (SPY)	14.5%	17.9%	0.70	5.9%
Gold (GLD)	14.4%	15.6%	0.77	-12.5%
Commodities (DBC)	8.6%	17.6%	0.40	-4.5%
Real Estate (VNQ)	5.6%	20.7%	0.23	2.6%
Bitcoin (BTCUSD)	67.4%	66.8%	1.07	-2.6%

Short Interest

Short Interest: As Of Date	2272026
Short Interest: Shares Quantity	0.0 Mil
Short Interest: % Change Since 2152026	-28.1%
Average Daily Volume	0.0 Mil
Days-to-Cover Short Interest	1
Basic Shares Quantity	17.7 Mil
Short % of Basic Shares	0.0%

Returns Analyses

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SEC Filings

Expand for More

Report Date	Filing Date	Filing
09/30/2025	01/20/2026	10-Q

Insider Activity

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LFAC Trade Sentinel

Stock Conviction

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CONVICTION RATIONALE

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STOCK ARCHETYPE

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INVESTMENT THESIS

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Mechanism: null

Supporting Evidence:

PRIMARY RISK

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Mechanism: null

Supporting Evidence:

Key KPI Watchlist

KPI	Threshold	Rationale

Core Investment Debate

BULL VIEW

CORE TENSION

PREVAILING SENTIMENT

BEAR VIEW

Next 6 months: Risks and Catalysts

Timeline	Event & Metric To Watch

Key Events in Last 6 Months

Date	Event	Stock Impact

Risk Management

Position Sizing

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Diversification Alternatives

How Is The Market Pricing LFAC?

What will confirm the thesis

What will damage the thesis

Noise: Real but irrelevant to thesis

Repricing Catalyst

What LFAC Makes & Who Pays

TTM figures based on

LFAC Evolution: Price Return by Era

① Structure

② Volume / Momentum

③ Catalyst

Combined Score

0 / 12

1 Price Structure & Trend · ▾

2 Momentum ▾

3 Relative Strength vs. SPY ▾

4 Institutional Footprint & Volume ▾

5 Volatility ▾

6 Key Price Levels Range · Vol ▾

7 Earnings Reaction History ▾

8 How the Verdict Is Derived Three Pillars ▾

Pillar	Score
① Structure	0
② Vol / Mom	0
③ Catalyst	0

ℹ Bull Pillars: 0 · Bear Pillars: 0 · Combined Score: 0 →

Industry Resources

Financials Resources

Federal Reserve Economic Data

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Leapfrog Acquisition (LFAC)

Market Price (3/14/2026): $9.93 | Market Cap: $176.0 MilSector: Financials | Industry: Multi-Sector Holdings

Leapfrog Acquisition (LFAC)

Market Price (3/14/2026): $9.93Market Cap: $176.0 MilSector: FinancialsIndustry: Multi-Sector Holdings

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About Leapfrog Acquisition (LFAC)

Interactive Breakdown

Better Bets vs. Leapfrog Acquisition (LFAC)

Latest Trefis Analyses

Trade Ideas

Recent Active Movers

Top Gainers

Top Losers

Top Gainers

Top Losers

Top Gainers

Top Losers

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons

Financials

Growth & Margins

Valuation

Returns

Comparison Analyses

FDIC Bank Data

Bank Capital

Bank Deposits

Bank Assets

Bank Loans

FDA Approved Drugs Data

Financials

Segment Financials

Price Behavior

Based On 1-Year Data

Based On 5-Year Data

Based On 10-Year Data

Short Interest

Returns Analyses

Earnings Returns History

SEC Filings

Insider Activity

LFAC Trade Sentinel

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CONVICTION RATIONALE

STOCK ARCHETYPE

INVESTMENT THESIS

PRIMARY RISK

BULL VIEW

CORE TENSION

PREVAILING SENTIMENT

BEAR VIEW

Position Sizing

null

Diversification Alternatives

Repricing Catalyst

Industry Resources

External Quote Links

Market Price (3/14/2026): $9.93 | Market Cap: $176.0 Mil
Sector: Financials | Industry: Multi-Sector Holdings

Market Price (3/14/2026): $9.93
Market Cap: $176.0 Mil
Sector: Financials
Industry: Multi-Sector Holdings