SCHEDULE 13G/A: Major Institutional Investors Disclose 2.6% Passive Stake in Rigetti Computing

American Assets Investment Management, LLC, Insurance Company of the West, and Ernest S. Rady have jointly disclosed a 2.6% beneficial ownership stake in Rigetti Computing, Inc., totaling 7,221,216 shares as of December 31, 2024.

Summary

• The filing is an Amendment No. 2 to Schedule 13G, indicating an update to previously reported beneficial ownership.
• The reporting persons are American Assets Investment Management, LLC (AAIM), Insurance Company of the West (ICW), and Ernest S. Rady.
• As of December 31, 2024, the aggregate amount beneficially owned by the reporting persons is 7,221,216 shares of Rigetti Computing, Inc. Common Stock.
• This ownership represents 2.6% of the class of securities.
• Insurance Company of the West holds sole voting power over all 7,221,216 shares.
• American Assets Investment Management, LLC, Insurance Company of the West, and Ernest S. Rady share dispositive power over all 7,221,216 shares.
• AAIM serves as an investment adviser for a separately managed account of ICW and has discretionary power to dispose of the shares, but disclaims beneficial ownership, stating the securities are owned by ICW.
• The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing (Schedule 13G) disclosing beneficial ownership, which does not inherently convey positive or negative sentiment regarding the company's operational performance or future prospects. It merely reports a passive investment stake.

Future Outlook

This Schedule 13G filing is a disclosure of passive beneficial ownership and does not contain any forward-looking statements or guidance regarding Rigetti Computing, Inc.'s future outlook.

Industry Context

Rigetti Computing, Inc. operates in the quantum computing industry. This filing indicates that institutional investors, including an investment management firm and an insurance company, hold a passive stake in the company, which is a common occurrence for publicly traded companies.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant institutional ownership, confirming a passive investment by the reporting entities.

Key Dates

Keywords

Rigetti Computing, Beneficial Ownership, Schedule 13G, Common Stock, Investment Management, Institutional Investor, Quantum Computing