SCHEDULE: Caddis Holdings & Griffin Perry Report Fermi Inc. Stake

Caddis Holdings, LP and Griffin Perry have filed a Schedule 13G, reporting beneficial ownership of 52,256,833 shares of Fermi Inc. common stock, representing 8.2% of the class.

Summary

• Caddis Holdings, LP and Griffin Perry (collectively, the "Reporting Persons") have filed a Schedule 13G, indicating their beneficial ownership of Fermi Inc. common stock.
• The Reporting Persons collectively own 52,256,833 shares of Fermi Inc. common stock.
• This ownership stake represents 8.2% of the total outstanding shares of Fermi Inc. common stock.
• The filing is made pursuant to Rule 13d-1(d) under the Securities Exchange Act of 1934.
• The Reporting Persons previously reported their beneficial ownership on a Schedule 13D.
• The percentage of class is calculated based on 637,574,239 shares outstanding as of May 11, 2026, as reported in Fermi Inc.'s Form 10-Q filed on May 15, 2026.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing. It's a standard disclosure of ownership and does not inherently signal positive or negative developments for Fermi Inc. itself, but rather provides transparency on a significant shareholder.

Positives

• Significant beneficial ownership stake of 8.2% in Fermi Inc. common stock by Caddis Holdings, LP and Griffin Perry.
• Clear disclosure of ownership through a Schedule 13G filing, providing transparency to the market.

Risks

• The filing does not detail specific reasons for the shift from a Schedule 13D to a Schedule 13G, which could imply a change in investment strategy or intent that is not fully disclosed.
• While Mr. Perry disclaims beneficial ownership beyond his pecuniary interest, the potential for deemed beneficial ownership could create complexities.

Future Outlook

The filing itself does not contain forward-looking statements or guidance regarding Fermi Inc.'s future performance. It is a disclosure of current ownership.

Management Comments

• Mr. Perry disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.

Industry Context

StockSavvy.ai notes that the filing of a Schedule 13G by Caddis Holdings, LP and Griffin Perry indicates a passive investment approach, as opposed to a Schedule 13D which often signals an intent to influence or control the company. This is a common disclosure for institutional investors or significant individual shareholders who have crossed the 5% ownership threshold.

Stakeholder Impact

• Shareholders: Increased transparency regarding a significant beneficial owner, potentially influencing market perception and trading activity.
• Management: Awareness of a substantial passive stake may influence strategic decision-making and communication strategies.
• Creditors: No direct impact indicated by this filing.

Next Steps

• The Reporting Persons will continue to monitor their investment in Fermi Inc.
• Future filings will be made if changes in beneficial ownership occur.

Key Dates

Keywords

Fermi Inc., Schedule 13G, Caddis Holdings, LP, Griffin Perry, Beneficial Ownership, Common Stock, SEC Filing, Securities Exchange Act