Victory Capital Discloses 4.9% Stake in Middleby Corp

TL;DR

**Victory Capital just revealed a 4.9% stake in Middleby, a bullish signal from a big player.**

AI Summary

Victory Capital Management Inc. reported on February 7, 2024, that it beneficially owns 2,710,583 shares of Middleby Corp (MIDD) common stock as of December 31, 2023. This represents a 4.9% ownership stake in the company. This filing is important for investors because it shows a significant institutional investor has a substantial, though not controlling, position in Middleby, indicating their confidence in the company's future.

Why It Matters

This filing reveals a major institutional investor's significant stake, which can influence market perception and potentially provide a floor for the stock price.

Risk Assessment

Risk Level: low — This filing indicates a significant institutional investment, which generally reduces risk by showing confidence from a large fund.

Analyst Insight

A smart investor would view this as a positive signal, suggesting that a large institutional investor sees value in Middleby Corp. It might be worth researching Middleby Corp further to understand the reasons behind Victory Capital's investment.

Key Numbers

• 2,710,583 — Shares Beneficially Owned (Represents Victory Capital Management Inc.'s sole voting power in Middleby Corp.)
• 4.9% — Percentage of Class (Indicates the total ownership stake Victory Capital Management Inc. holds in Middleby Corp.)
• December 31, 2023 — Event Date (The specific date on which Victory Capital Management Inc.'s ownership reached the threshold requiring this filing.)

Key Players & Entities

• Victory Capital Management Inc. (company) — reporting person and institutional investor
• Middleby Corp (company) — subject company whose shares are being reported
• 2,710,583 (dollar_amount) — number of shares beneficially owned
• 4.9% (dollar_amount) — percentage of class beneficially owned
• December 31, 2023 (person) — date of event requiring the filing
• February 7, 2024 (person) — date the filing was made

Forward-Looking Statements

• Other institutional investors may increase their positions in Middleby Corp, following Victory Capital's lead. (Middleby Corp) — medium confidence, target: Q1 2024

FAQ

Filing Documents

• middlebycorp13g_123123.htm (SC 13G) — 38KB
• 0001040188-24-000036.txt ( ) — 39KB

If this statement is filed

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) ¨ Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) ¨ Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) ¨ Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) ¨ Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) x An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E); (f) ¨ An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F); (g) ¨ A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G); (h) ¨ A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) ¨ 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) ¨ Group, in accordance with §240.13d-1(b)(1)(ii)(J).

Ownership

Item 4. Ownership. 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: 2,762,555 (b) Percent of class: 5.15% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 2,710,583 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 2,762,555 (iv) Shared power to dispose or to direct the disposition of: 0 Instruction . For computations regarding securities which represent a right to acquire an underlying security see §240.13d-3(d)(1).

Ownership of Five Percent

Item 5. Ownership 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

Ownership of More than

Item 6. Ownership of More than Five Percent on Behalf of Another Person. The clients of Victory Capital Management Inc., including investment companies registered under the Investment Company Act of 1940 and separately managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the class of securities reported herein of Middleby Corp. No client has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, more than 5% of such class.

Identification and Classification

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. Not applicable.

Identification and Classification

Item 8. Identification and Classification of Members of the Group. Not applicable.

Notice of Dissolution

Item 9. Notice of Dissolution of Group. Not applicable. CUSIP No. 596278101 13G Page 4 of 4 Pages

Certification

Item 10. Certification. (a) The following certification shall be included if the statement is filed pursuant to §240.13d-1(b): By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. 2/7/2024 Date /s / Barry Garrett Barry Garrett/Chief Compliance Officer

View Full Filing

View this SC 13G filing on SEC EDGAR