These disclosures are from 13Ds filed with the Securities and Exchange Commission. 13Ds are filed within 10 days of an entity's attaining more than 5% in any class of a company's securities. Subsequent changes in holdings or intentions must be reported in amended filings. This material is from May 22 through May 28, 2025. Source: VerityData

Increases in Holdings

TriMas $(TRS)$ Trend International Holding raised its stake in the manufacturing company to 6,054,425 shares. Trend International Holding did so through the purchase of 982,784 TriMas shares from April 30 through May 22, 2025, at per share prices ranging from $23.31 to $26.25. Following the latest purchases, Trend International Holding owns 14.9% of TriMas' outstanding stock. Shares of TriMas have gained approximately 11.2% in value since the beginning of this year.

Joby Aviation $(JOBY)$ Toyota Motor increased its stake in the electric-aircraft manufacturer to 128,454,401 shares. Toyota Motor did so through the purchase of 49,701,790 Joby Aviation shares pursuant to a Stock Purchase Agreement on May 22, 2025, at a price of $5.03 per share. Following the latest purchases, Toyota Motor owns 15.3% of Joby Aviation's outstanding stock. Shares of Joby Aviation have gained approximately 9.5% since the beginning of this year.

Marriott Vacations $(VAC)$ Impactive Capital raised its stake in the vacation-property management-services company to 3,295,984 shares. Impactive Capital did so through the purchase of 234,137 Marriott Vacations shares from April 14 through April 16, 2025, at per share prices ranging from $52.81 to $53.64. On May 27, Impactive Capital entered into a support agreement with Marriott, pursuant to which the company agreed to appoint Christian A. Asmar to the board of directors at its 2026 annual meeting. Following those purchases, Impactive Capital continues to own 9.5% of Marriott Vacations' outstanding stock. Shares of Marriott Vacations have lost roughly 23% of their value since the beginning of this year.

Decreases in Holdings

Cracker Barrel Old Country Store $(CBRL)$ Biglari Capital lowered its stake in the casual-dining and country-store operator to 1,490,681 shares. Biglari Capital did so through the sale of 578,460 Cracker Barrel shares from May 19 through May 21, 2025, at per share prices ranging from $54.95 to $56.61. Following the latest sales, Biglari Capital continues to own 6.7% of Cracker Barrel's outstanding stock. Shares of Cracker Barrel have gained approximately 6.9% since the beginning of this year.

Invesco $(IVZ)$ Trian Fund Management reduced its stake in the investment-services firm to 20,675,008 shares. Trian Fund Management did so through the sale of 2,498,434 Invesco shares from May 16 through May 22, 2025, at per share prices ranging from $14.56 to $15.36. Following the latest sales, Trian Fund Management continues to own 4.6% of Invesco's outstanding stock, placing Trian Fund Management below the 5% threshold requiring it to report further stock sales. Shares of Invesco have lost 17.9% in value since the beginning of this year.

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May 30, 2025 16:28 ET (20:28 GMT)

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