| Item 1. | |
| (a) | Name of issuer:
Angel Studios, Inc. |
| (b) | Address of issuer's principal executive offices:
295 W Center St., Provo, Utah, 84601 |
| Item 2. | |
| (a) | Name of person filing:
This statement is filed by the entities and individuals listed below, all of whom together are referred to herein as the "Reporting Persons":
(i) Gigafund 1, LP ("LP")
(ii) Gigafund 1 GP, LP ("GP" and together with LP, the "Gigafund Holders")
(iii) Luke Nosek ("Mr. Nosek")
(iv) Stephen D. Oskoui ("Mr. Oskoui") |
| (b) | Address or principal business office or, if none, residence:
The principal business address of each of the Reporting Persons is c/o Gigafund Management Company, LLC, 555 E. 5th Street #3127, Austin, TX 78701. |
| (c) | Citizenship:
See responses to row 4 on each cover page. |
| (d) | Title of class of securities:
Class A common stock, par value $0.0001 per share |
| (e) | CUSIP No.:
034948109 |
| 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);
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| (b) | Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
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| (c) | Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
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| (d) | Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
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| (e) | An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
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| (f) | An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
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| (g) | A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
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| (h) | A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
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| (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);
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| (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:
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| (k) | Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
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| Item 4. | Ownership |
| (a) | Amount beneficially owned:
See responses to row 9 on each cover page.
The Class A Shares are directly held (i) 19,459,882 Class A Shares by LP and (ii) 53,504 Class A Shares by Mr. Oskoui. In addition, Mr. Oskoui has an option to acquire 137,651 Class B Shares which are convertible one for one into Class A Shares.
The percentage of class calculations are based on 99,910,315 Class A Shares outstanding as of September 11, 2025, as reported on the Issuer's Form 8-K filed with the SEC on September 16, 2025, and, in the case of Mr. Oskoui, an additional 137,651 Class A Shares issuable upon exercise of his option and conversion of the acquired Class B Shares.
GP is the general partner of LP. Collectively, Mr. Nosek and Mr. Oskoui control all voting and investments decisions with respect to securities held by the Gigafund Holders. Accordingly, Mr. Nosek and Mr. Oskoui may each be deemed to beneficially own the Class A Shares directly held by LP, provided that, the filing of this statement shall not be deemed an admission of beneficial ownership for purposes of Section 13(d) or 13(g) or for any other purpose. |
| (b) | Percent of class:
See responses to row 11 on each cover page. |
| (c) | Number of shares as to which the person has:
|
| | (i) Sole power to vote or to direct the vote:
See responses to row 5 on each cover page.
|
| | (ii) Shared power to vote or to direct the vote:
See responses to row 6 on each cover page.
|
| | (iii) Sole power to dispose or to direct the disposition of:
See responses to row 7 on each cover page.
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| | (iv) Shared power to dispose or to direct the disposition of:
See responses to row 8 on each cover page.
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| Item 5. | Ownership of 5 Percent or Less of a Class. |
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| Item 6. | Ownership of more than 5 Percent on Behalf of Another Person. |
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Not Applicable
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| Item 7. | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. |
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Not Applicable
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| Item 8. | Identification and Classification of Members of the Group. |
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Not Applicable
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| Item 9. | Notice of Dissolution of Group. |
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Not Applicable
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Rule 13d-1(c)