SCHEDULE: Tudor Investment Discloses 5.9% Stake in Berry Corp

Tudor Investment Corporation and Paul T. Jones II have reported a 5.9% beneficial ownership stake in Berry Corp, totaling 4.6 million shares.

Summary

• Tudor Investment Corporation and its Chief Investment Officer, Paul T. Jones II, have jointly reported beneficial ownership of 4,600,000 shares of Berry Corp common stock.
• This ownership represents 5.9% of Berry Corp's outstanding common stock.
• The shares were acquired by Tudor Funds, for which Tudor Investment Corporation acts as investment manager.
• Paul T. Jones II is identified as the indirect control person of Tudor Investment Corporation.
• The percentage calculation is based on 77,601,842 shares of Common Stock outstanding as of September 10, 2025.

Sentiment

Score: 6

Explanation: The filing is a factual disclosure of beneficial ownership. While the entry of a notable institutional investor can be seen as a positive signal, the filing itself contains no operational or financial news to significantly shift sentiment beyond neutral.

Positives

• Increased institutional ownership by a notable investment firm, Tudor Investment Corporation, which may signal confidence in Berry Corp's prospects.

Negatives

• No specific negative information is disclosed in this beneficial ownership report.

Risks

• This filing does not contain specific risk factors related to Berry Corp's operations or financial health; it is a disclosure of beneficial ownership.

Future Outlook

This beneficial ownership report does not provide any forward-looking statements or guidance regarding Berry Corp's future performance or strategic direction.

Management Comments

• The reporting persons certify that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, other than activities solely in connection with a nomination under Rule 14a-11.

Industry Context

The disclosure of a significant stake by an institutional investor like Tudor Investment Corporation in Berry Corp indicates active portfolio management and potential belief in the company's value proposition within the energy sector. Such filings are common for institutional investors crossing the 5% ownership threshold, signaling their position to the market.

Comparison to Industry Standards

• This filing is a standard regulatory disclosure of beneficial ownership and does not contain information for comparison to industry operational or financial benchmarks. It reflects an investment decision by Tudor Investment Corporation, a well-known hedge fund, which is a common occurrence in the investment landscape.

Stakeholder Impact

• Shareholders: Increased institutional ownership by Tudor Investment Corporation may be viewed positively, potentially signaling confidence in the company and attracting further investor interest.
• Management: Awareness of a significant institutional shareholder may influence strategic decisions or communication.

Next Steps

• No specific future actions or milestones for Berry Corp are mentioned in this beneficial ownership report.

Key Dates

Recommendation

The filing indicates a significant institutional investment by Tudor Investment Corporation, which can be interpreted as a vote of confidence. However, a Schedule 13G filing primarily discloses ownership and does not provide new operational or financial data to warrant a 'buy' or 'sell' recommendation. It suggests that a seasoned investor would likely maintain their current position, acknowledging the institutional interest without immediate action based solely on this ownership disclosure.

Keywords

Berry Corp, Tudor Investment Corporation, Paul T. Jones II, Beneficial Ownership, Schedule 13G, Common Stock, Institutional Investor, BRY