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 Dec. 11 through Dec. 17, 2025. Source: VerityData

Activist Filings

Cannae Holdings $(CNNE)$ Carronade Capital Management raised its stake in the diversified holding company to 3,262,648 shares. Carronade and its affiliates did so through the purchase of 81,633 Cannae Holdings shares from Oct. 23 through Nov. 11 at per share prices of $15.76 to $18.44. On Dec. 12, Carronade issued a news release, expressing its satisfaction over the election of independent Carronade-backed directors Mona Aboelnaga and Cherie Schaible to the board at the 2025 annual meeting. Carronade also commented on the rejection of Cannae's "Say on Pay" proposal, saying that the "continued unjust enrichment of its directors and management must cease." Following the latest purchases, Carronade owns 6.8% of Cannae's outstanding stock. Shares of Cannae have lost roughly 18.7% of their value in 2025.

Increases in Holdings

NextDecade $(NEXT)$ Hanwha Aerospace raised its stake in the liquid natural-gas producer to 25,620,222 shares. Hanwha did so through the purchase of 7,082,525 NextDecade shares from Nov. 11 through Dec. 11 at per share prices of $5.59 to $6.36. After the latest purchases, Hanwha owns a 9.7% stake in NextDecade's outstanding stock. Shares of NextDecade have lost about 37.5% of their value in 2025.

Decreases in Holdings

V2X $(VVX)$ American Industrial Partners lowered its stake in the government services company to 5,017,286 shares. American Industrial Partners did so through the sale of 1,200,000 V2X shares on Dec. 12 at a price of $55.05 per share. Following the latest sales, American Industrial Partners owns a 16.1% stake in V2X's outstanding stock. Shares of V2X have gained roughly 14.9% in value in 2025.

Impinj $(PI)$ Sylebra Capital lowered its stake in the wireless chip maker to 1,132,152 shares. Sylebra Capital did so through the sale of 372,225 Impinj shares from Dec. 4 through Dec. 15 at per share prices of $146.62 to $161.04, after selling another 324,883 Impinj shares from Nov. 3 to Dec. 3 at $155.09 to $201.99. Following the latest sales, Sylebra Capital continues to own 3.8% of Impinj's outstanding stock, placing Sylebra below the 5% threshold that would require it to report further sales. Shares of Impinj have gained roughly 13.5% in value since the beginning of this year.

Alphatec Holdings $(ATEC)$ Squadron Capital reduced its stake in the medical technology company to 13,215,781 shares. Squadron Capital did so through the sale of 1,000,000 Alphatec Holdings shares from Nov. 12 through Dec. 16 at per share prices ranging from $19.66 to $21.20. Following the latest sales, Squadron Capital continues to own 8.9% of Alphatec's outstanding stock. Shares of Alphatec have gained approximately 116% in value since the beginning of this year.

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December 19, 2025 19:19 ET (00:19 GMT)

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