SCHEDULE 13G: D. E. Shaw & Co. Discloses 5.0% Passive Stake in Upstart Holdings, Inc.
Beneficial Ownership Disclosure
D. E. Shaw & Co., L.P., D. E. Shaw & Co., L.L.C., and David E. Shaw have jointly disclosed a beneficial ownership of 5.0% in Upstart Holdings, Inc. as of December 31, 2024.
Summary
- D. E. Shaw & Co., L.P. reported beneficial ownership of 4,599,059 shares of Upstart Holdings, Inc. common stock, representing 5.0% of the class.
- D. E. Shaw & Co., L.L.C. reported beneficial ownership of 4,564,936 shares, also representing 5.0% of the class.
- David E. Shaw reported beneficial ownership of 4,599,059 shares, representing 5.0% of the class, through his positions with the D. E. Shaw entities, though he disclaims direct ownership.
- The aggregate beneficial ownership for D. E. Shaw & Co., L.P. and David E. Shaw includes 1,558,354 shares held by D. E. Shaw Valence Portfolios, L.L.C., 1,311,300 shares from call options held by D. E. Shaw Valence Portfolios, L.L.C., 1,694,235 shares held by D. E. Shaw Oculus Portfolios, L.L.C., and 35,170 shares managed by D. E. Shaw Investment Management, L.L.C.
- The aggregate beneficial ownership for D. E. Shaw & Co., L.L.C. includes 1,558,354 shares held by D. E. Shaw Valence Portfolios, L.L.C., 1,311,300 shares from call options held by D. E. Shaw Valence Portfolios, L.L.C., 1,694,235 shares held by D. E. Shaw Oculus Portfolios, L.L.C., and 1,047 shares held by D. E. Shaw Investment Management Special Investment Fund, L.L.C.
- The filing indicates a passive investment, with the reporting persons certifying that the securities were not acquired or held for the purpose of changing or influencing control of Upstart Holdings, Inc.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership and does not contain subjective language or forward-looking statements that would indicate a strong positive or negative sentiment. It is a neutral regulatory filing.
Positives
- The disclosure of a 5.0% stake by a prominent investment firm like D. E. Shaw & Co. may signal institutional confidence in Upstart Holdings, Inc.
Future Outlook
NA
Industry Context
This filing indicates a significant institutional investment in Upstart Holdings, Inc., a company operating in the financial technology and AI-powered lending sector. Such disclosures by major investment firms like D. E. Shaw & Co. are closely watched by the market as they can reflect broader institutional interest or investment trends within the fintech industry.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Update | David E. Shaw granted new Powers of Attorney, dated August 1, 2024, to several individuals, including Daniel Marcus, for regulatory filings. These new powers replace those granted on March 1, 2017. | 2024-08-01 | Streamlines the process for authorized individuals to execute and file regulatory documents on behalf of David E. Shaw and related entities, ensuring compliance with SEC and other governmental reporting requirements. |
Stakeholder Impact
- Shareholders: The disclosure of a significant 5.0% stake by D. E. Shaw & Co. may be viewed positively by existing and potential shareholders, suggesting institutional confidence in Upstart Holdings, Inc.
Key Dates
| Date | Description |
|---|---|
| 2024-08-01 | Date of Power of Attorney granted by David E. Shaw relating to D. E. Shaw & Co., Inc. and D. E. Shaw & Co. II, Inc. |
| 2024-12-31 | Date of event which requires the filing of this statement (reporting period end date). |
| 2025-01-08 | Date of signing of the Schedule 13G filing and the Joint Filing Agreement. |
Keywords
Upstart Holdings, D. E. Shaw & Co., Schedule 13G, Beneficial Ownership, Common Stock, Investment Firm, Institutional Investor, Passive Stake, Financial Technology, AI Lending
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