SCHEDULE: Novogratz Holds Majority Stake in Galaxy Digital

Michael E. Novogratz and controlled entities report beneficial ownership of over 53% of Galaxy Digital Inc.'s Class A Common Stock.

Summary

• Michael E. Novogratz, directly and through controlled entities Galaxy Group Investments LLC and Novofam Macro LLC, beneficially owns 195,161,415 shares of Galaxy Digital Inc. Class A Common Stock.
• This aggregate ownership represents 53.480% of the Class A Common Stock outstanding.
• The ownership includes 46,312 shares held directly by Novogratz, 522,945 shares held by Novofam Macro LLC, and 194,592,158 shares held by Galaxy Group Investments LLC.
• The shares held by Galaxy Group Investments LLC are issuable upon the conversion of Limited Partnership Units (LP Units) of Galaxy Digital Holdings LP and corresponding Class B Common Stock.
• As of June 30, 2025, there were 170,332,037 shares of Class A Common Stock outstanding.

Sentiment

Score: 8

Explanation: The filing confirms a substantial majority ownership by Michael E. Novogratz, indicating strong insider confidence and alignment of interests, which is generally a positive signal for investors.

Positives

• Michael E. Novogratz, a key figure, maintains a significant majority beneficial ownership of 53.480% in Galaxy Digital Inc., indicating strong alignment with shareholder interests and confidence in the company's future.
• The ownership structure involving LP Units convertible to Class A Common Stock provides flexibility while consolidating control.

Risks

• The filing does not detail specific operational or financial risks. The primary risk implied by a large concentrated ownership is potential influence over corporate decisions by the controlling party.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Michael E. Novogratz controls Novofam Macro LLC and Galaxy Group Investments LLC, which hold significant portions of the reported beneficial ownership.

Stakeholder Impact

• Shareholders: The significant beneficial ownership by Michael E. Novogratz provides stability and aligns management's interests with long-term shareholder value. It also implies a strong controlling interest.

Key Dates

Recommendation

This Schedule 13G filing primarily serves as a disclosure of beneficial ownership, confirming that Michael E. Novogratz maintains a controlling stake of over 53% in Galaxy Digital Inc. While it does not provide new financial performance data or strategic updates that would typically drive a 'buy' or 'sell' recommendation, the confirmation of such a significant insider ownership by a key figure is a positive indicator of long-term confidence and alignment of interests. For investors, this reinforces the stability of the company's ownership structure. Therefore, a 'hold' recommendation is appropriate as it suggests no immediate reason to change an existing position based solely on this ownership disclosure, but rather to acknowledge the strong insider commitment.

Keywords

Galaxy Digital Inc., Michael E. Novogratz, Beneficial Ownership, SEC Filing, Schedule 13G, Class A Common Stock, Digital Assets, Cryptocurrency, Investment Management