SCHEDULE: Luxor Capital Group Reduces FTAI Infrastructure Stake Below 5%

Luxor Capital Group and its affiliates have reduced their beneficial ownership in FTAI Infrastructure Inc. to 4.1% of outstanding common stock.

Summary

• Luxor Capital Group, 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 FTAI Infrastructure Inc. common stock.
• As of September 30, 2025, the reporting persons beneficially owned an aggregate of 4,716,742 shares of FTAI Infrastructure Inc. Common Stock.
• This aggregate ownership represents 4.1% of the Issuer's Common Shares outstanding.
• The percentage was calculated based on 116,294,461 Common Shares outstanding as of October 29, 2025, as reported in the Issuer's Form 10Q filed on October 31, 2025.
• This filing is an Amendment No. 4 to a Schedule 13G, indicating a change from a previous filing where the group held 5% or more of the company's stock.

Sentiment

Score: 3

Explanation: The sentiment is slightly negative as a major institutional investor group has reduced its stake below the 5% reporting threshold, implying a divestment from a previously larger position.

Negatives

• A significant institutional investor group, Luxor Capital Group and its affiliates, has reduced its stake in FTAI Infrastructure Inc. below the 5% threshold, which can be interpreted as a decrease in conviction or a strategic divestment.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the issuer's future outlook.

Industry Context

This filing reflects a change in institutional investor positioning within the infrastructure sector, indicating a shift in a major fund's allocation to FTAI Infrastructure Inc. It does not provide broader industry trends but highlights investor sentiment towards a specific company.

Stakeholder Impact

• Shareholders may view the reduction in stake by a prominent institutional investor as a negative signal, potentially influencing their investment decisions.
• The company's management might need to address investor concerns regarding the reasons for the stake reduction by a major holder.

Key Dates

Recommendation

The reduction of a significant institutional stake below the 5% threshold by Luxor Capital Group is a negative signal, suggesting a potential loss of confidence or strategic reallocation. While not a direct 'sell' signal without further context on the investor's rationale or the company's fundamentals, it warrants caution. Investors should 'hold' and monitor for further developments or explanations from the company or the investor group, as well as assess the company's performance independently.

Keywords

FTAI Infrastructure Inc., Luxor Capital Group, Institutional Ownership, Schedule 13G, Beneficial Ownership, Stake Reduction, Common Stock