SCHEDULE 13G/A: Kingstown Entities Reduce Stake in Intuitive Machines, Ownership Drops Below 5%

Kingstown 1740 Fund L.P. and affiliated entities, including Guy Shanon, have filed an amended Schedule 13G indicating their beneficial ownership in Intuitive Machines, Inc. Class A Common Stock has fallen below 5%.

Summary

• This is Amendment No. 3 to a Schedule 13G filing by Kingstown 1740 Fund L.P., Kingstown Capital Partners LLC, Kingstown Capital Management L.P., Kingstown Management GP LLC, and Guy Shanon regarding their beneficial ownership of Intuitive Machines, Inc. Class A Common Stock.
• As of March 31, 2025, Kingstown 1740 Fund L.P. and its affiliated entities collectively beneficially own 3,865,174 shares, representing 3.3% of the Class A Common Stock.
• Guy Shanon, who is the managing member of KMGP and KCP, beneficially owns an aggregate of 4,808,037 shares, representing 4.1% of the Class A Common Stock, which includes the shares held by the Kingstown entities and his sole ownership.
• The filing indicates that the aggregate beneficial ownership by the reporting persons is now 5 percent or less of the class, implying a reduction from a previous filing.
• The reporting persons certify that the securities were not acquired or held for the purpose of changing or influencing the control of the issuer.

Sentiment

Score: 4

Explanation: The filing indicates a reduction in the beneficial ownership stake by Kingstown entities and Guy Shanon, with their holdings now falling below 5%. While not a complete divestment, a reduction in institutional ownership can be perceived as a slight negative signal regarding investor confidence or a portfolio rebalancing decision.

Positives

• The continued presence of institutional investors like Kingstown entities, even with a reduced stake, indicates ongoing interest in Intuitive Machines, Inc.

Negatives

• The beneficial ownership of Kingstown 1740 Fund L.P. and its affiliates has decreased to 3.3%, and Guy Shanon's aggregate ownership to 4.1%, falling below the 5% threshold, which could be interpreted as a reduction in confidence or a portfolio rebalancing.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: The reduction in institutional ownership might be viewed negatively by existing shareholders, potentially signaling a decrease in institutional confidence or a rebalancing of portfolios by the reporting entities.

Key Dates

Keywords

Intuitive Machines Inc., IMAX, SEC Filing, Schedule 13G, Beneficial Ownership, Institutional Investor, Kingstown 1740 Fund L.P., Kingstown Capital Partners LLC, Guy Shanon, Class A Common Stock, Space Exploration, Lunar Lander