SCHEDULE 13G

CHURCHILL CAP CORP XI

Class A ordinary shares, par value $0.0001 · CUSIP: G2131A124

Event date: 2025-12-31

Reporting persons may disclose overlapping interests. Their amounts are shown individually and are not added into a filing total.

Filing-level shares

Unavailable

Percent of class

Unavailable

• MAGNETAR FINANCIAL LLC

  Shares: 2,700,000.00 · Class: 6.44%

• MAGNETAR CAPITAL PARTNERS LP

  Shares: 2,700,000.00 · Class: 6.44%

• SUPERNOVA MANAGEMENT LLC

  Shares: 2,700,000.00 · Class: 6.44%

• DAVID J. SNYDERMAN

  Shares: 2,700,000.00 · Class: 6.44%

Amounts are as disclosed in this filing. Schedule type alone does not establish investment intent.