JPMorgan Amends Baker Hughes Stake, Signals Portfolio Rebalance

TL;DR

**JPMorgan updated its Baker Hughes stake, watch for market reaction.**

AI Summary

JPMorgan Chase & Co. filed an amended Schedule 13G/A on January 16, 2024, indicating a change in their beneficial ownership of Baker Hughes Company's Class A Common Stock as of December 29, 2023. This filing updates their previous disclosure, signaling a potential adjustment in their investment strategy or a rebalancing of their portfolio holdings in the oil and gas equipment company. This matters to investors because significant institutional ownership changes can influence stock price and reflect a major player's confidence (or lack thereof) in the company's future prospects.

Why It Matters

Changes in large institutional holdings like JPMorgan's can signal shifts in market sentiment or investment strategy for Baker Hughes, potentially impacting its stock price.

Risk Assessment

Risk Level: low — This filing is a routine update of institutional ownership and doesn't inherently indicate a high-risk event for the company.

Analyst Insight

Investors should monitor JPMorgan's subsequent 13F filing for specific details on the change in their Baker Hughes holdings to understand the magnitude and potential implications for the stock. This filing alone doesn't provide enough detail to warrant immediate action, but it signals a need for further investigation.

Key Players & Entities

• JPMorgan Chase & Co. (company) — the entity filing the SC 13G/A
• Baker Hughes Company (company) — the subject company whose stock is being reported
• December 29, 2023 (date) — the date of the event requiring the filing
• January 16, 2024 (date) — the filing date of the SC 13G/A
• $0.0001 (dollar_amount) — par value per share of Baker Hughes Class A Common Stock

Forward-Looking Statements

• JPMorgan's next 13F filing will provide more granular details on the exact change in their Baker Hughes holdings. (JPMorgan Chase & Co.) — high confidence, target: Q1 2024 (by May 15, 2024)
• Other institutional investors may adjust their positions in Baker Hughes following this updated disclosure from JPMorgan. (Baker Hughes Company) — medium confidence, target: Q1 2024

FAQ

Key Financial Figures

• $0.0001 — ssuer) Class A Common Stock, par value $0.0001 per share (Title of Class of Securiti

Filing Documents

• Baker_Hughes_Company.htm (SC 13G/A) — 86KB
• 0000019617-24-000073.txt ( ) — 88KB

From the Filing

SC 13G/A 1 Baker_Hughes_Company.htm FILING BAKER HUGHES COMPANY Schedule 13G UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 01 )* Baker Hughes Company (Name of Issuer) Class A Common Stock, par value $0.0001 per share (Title of Class of Securities) 05722G100 (CUSIP Number) December 29, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: x Rule 13d-1(b) o Rule 13d-1(c) o Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 05722G100 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) JPMORGAN CHASE & CO. 13-2624428 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) o (b) o 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5 SOLE VOTING POWER 47,209,363 6 SHARED VOTING POWER 98,031 7 SOLE DISPOSITIVE POWER 52,681,178 8 SHARED DISPOSITIVE POWER 149,954 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 52,840,457 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) o 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.2 % 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) HC FOOTNOTES Item 1. (a) Name of Issuer Baker Hughes Company (b) Address of Issuer's Principal Executive Offices 575 N. Dairy Ashford Rd., Suite 100, Houston, Texas 77079-1121 Item 2. (a) Name of Person Filing JPMORGAN CHASE & CO. (b) Address of Principal Business Office or, if none, Residence 383 Madison Avenue New York, NY 10179 (c) Citizenship Delaware (d) Title of Class of Securities Class A Common Stock, par value $0.0001 per share (e) CUSIP Number 05722G100 Item 3. If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) o Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) o Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) o Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) o Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8). (e) o An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) o An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) x A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) o A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) o A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) o A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J). (k) o A group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J), please specify the type of institution: Item 4. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 52,840,457 (b) Percent of class: 5.2 % (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 47,209,363 (ii) Shared power to vote or to direct the vote: 98,031 (iii) Sole power to dispose or to direct the disposition of: 52,681,178 (iv) Shared power to dispose or to direct the disposition of: 149,954 Item 5. of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following o . Item 6. of More than Five Percent on Behalf of Another Person. Not Applicable Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company J.P. Morgan Trust Company of Delaware J.P. Morgan Securities LLC JPMorgan Chase Ban

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