SCHEDULE 13G: Wasserstein Entities and Principals Disclose Significant Passive Stake in Calumet, Inc.
Beneficial Ownership Report
A group of investment entities and individuals associated with Wasserstein Debt Opportunities have filed a Schedule 13G, revealing a collective passive beneficial ownership of up to 7.0% of Calumet, Inc.'s common stock.
Summary
- Wasserstein Debt Opportunities Management, L.P., WDO Management GP, LLC, Wasserstein Debt Opportunities Master, LP, Wasserstein Debt Opportunities Genpar, LLC, Rajay Bagaria, and Joseph Dutton have jointly filed a Schedule 13G.
- The filing indicates that the Reporting Persons collectively beneficially own shares of Calumet, Inc. common stock.
- As of the filing date, the Master Fund directly owned 4,176,672 shares, representing 4.8% of the outstanding shares.
- An additional 1,507,160 shares were held in separately managed accounts managed by the Adviser.
- Rajay Bagaria directly owned 349,547 shares, and Joseph Dutton directly owned 3,305 shares.
- Based on 86,207,118 shares outstanding as of February 28, 2025, Rajay Bagaria beneficially owned the largest percentage at 7.0% (6,033,379 shares), including both direct and shared holdings.
- Wasserstein Debt Opportunities Management, L.P. and WDO Management GP, LLC each beneficially owned 6.6% (5,683,832 shares).
- Joseph Dutton beneficially owned 6.6% (5,687,137 shares), including direct and shared holdings.
- The filing explicitly states that the securities were not acquired and are not held for the purpose of changing or influencing the control of Calumet, Inc., indicating a passive investment intent.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership, with no explicit positive or negative sentiment regarding the issuer's performance or outlook. It is a routine regulatory filing.
Positives
- Increased institutional ownership by a reputable investment group like Wasserstein Debt Opportunities may signal confidence in Calumet, Inc.'s long-term prospects.
- The passive nature of the investment, as stated in the filing, suggests that the investors are not seeking to disrupt current management or operations.
Future Outlook
The document does not contain any forward-looking statements or guidance regarding Calumet, Inc.'s future performance or strategic direction. It solely reports beneficial ownership.
Industry Context
This filing represents a routine disclosure of significant passive ownership by an institutional investor group. It does not provide specific insights into broader industry trends but indicates continued institutional interest in publicly traded companies like Calumet, Inc.
Stakeholder Impact
- Shareholders: The disclosure of a significant passive stake by institutional investors may be viewed positively, potentially indicating a vote of confidence in the company's value.
Key Dates
| Date | Description |
|---|---|
| 2025-02-28 | Date as of which the total number of Calumet, Inc. shares outstanding (86,207,118) was reported in the Issuer's Annual Report on Form 10-K. |
| 2025-03-03 | Date Calumet, Inc. filed its Annual Report on Form 10-K with the SEC, reporting shares outstanding. |
| 2025-03-18 | Date of event which required the filing of this Schedule 13G statement. |
| 2025-03-19 | Date the Schedule 13G statement and Joint Filing Agreement were signed and filed. |
Keywords
Calumet Inc., Schedule 13G, beneficial ownership, institutional investment, passive stake, Wasserstein Debt Opportunities, common stock, SEC filing
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