SCHEDULE: Luxor Capital Group Discloses 5.8% Stake in FTAI

Luxor Capital Group and its affiliates have reported a 5.8% passive beneficial ownership stake in FTAI Infrastructure Inc. as of June 30, 2025.

Summary

• Luxor Capital Group, LP, along with its affiliated entities Thebes Offshore Master Fund, LP, Qena Capital Partners Offshore Master Fund, LP, LCG Holdings LLC, Luxor Management, LLC, and Christian Leone, collectively reported beneficial ownership of 6,629,575 shares of FTAI Infrastructure Inc. Common Stock.
• This aggregate ownership represents 5.8% of FTAI Infrastructure Inc.'s outstanding Common Shares.
• The percentage was calculated based on 115,087,817 Common Shares outstanding as of June 30, 2025, as reported in the Issuer's Form 8-K filed on August 7, 2025.
• Thebes Offshore Master Fund, LP beneficially owned 4,410,446 Common Shares, representing 3.8% of the class.
• Qena Capital Partners Offshore Master Fund, LP beneficially owned 2,219,129 Common Shares, representing 1.9% of the class.
• The filing is a Schedule 13G, indicating passive investment purposes, with a certification that the securities were not acquired or held for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 5

Explanation: The filing is a factual disclosure of beneficial ownership, which is neutral in sentiment regarding the company's operational performance. The passive nature of the investment is a standard institutional holding.

Positives

• The disclosure of a significant passive stake by a reputable investment group like Luxor Capital Group may signal confidence in FTAI Infrastructure Inc.'s long-term prospects.
• The passive nature of the investment, as indicated by the Schedule 13G filing, suggests that the investors are not seeking to influence or change the control of the company, which can provide stability.

Negatives

• No specific negative aspects related to the company's operations or financial health are disclosed in this ownership filing.

Risks

• The filing itself does not detail specific operational or financial risks for FTAI Infrastructure Inc.; it is solely an ownership disclosure.

Future Outlook

This filing is a beneficial ownership report and does not contain any forward-looking statements or guidance regarding FTAI Infrastructure Inc.'s future outlook.

Management Comments

• Norris Nissim, General Counsel of Luxor Management, LLC, signed on behalf of Luxor Capital Group, LP, Thebes Offshore Master Fund, LP, Qena Capital Partners Offshore Master Fund, LP, LCG Holdings LLC, and Luxor Management, LLC.
• Norris Nissim also signed as Agent for Christian Leone.

Industry Context

This filing is a routine disclosure of a significant passive ownership stake by an investment firm in an infrastructure company. It does not provide broader industry trends or competitive analysis.

Stakeholder Impact

• Shareholders: The disclosure of a significant passive stake by a major investment group may be viewed positively, indicating institutional interest and potential long-term holding.

Key Dates

Keywords

FTAI Infrastructure Inc., Luxor Capital Group, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, Passive Investment, SEC Filing, Infrastructure