Kayne Anderson Rudnick Updates NVE Corp Stake as of Dec 31, 2023

TL;DR

**Kayne Anderson Rudnick just updated their NVE Corp holdings, watch for market reaction.**

AI Summary

Kayne Anderson Rudnick Investment Management LLC, a California-based investment firm, filed an Amendment No. 8 to its SC 13G filing on February 13, 2024, disclosing its ownership of NVE Corporation's common stock as of December 31, 2023. This filing indicates a change in their beneficial ownership, which is important for investors as it shows a significant institutional investor's updated position in NVE Corp, potentially signaling their confidence or lack thereof in the company's future performance.

Why It Matters

This filing reveals an institutional investor's updated stake in NVE Corp, which can influence market perception and potentially impact the stock price as other investors react to the news.

Risk Assessment

Risk Level: low — This filing is a routine update of an institutional ownership stake and does not inherently present a high risk to investors.

Analyst Insight

Investors should review the full SC 13G/A filing to understand the specific changes in Kayne Anderson Rudnick's ownership percentage and share count in NVE Corp, then consider if this institutional activity aligns with their own investment thesis for the stock.

Key Players & Entities

• Kayne Anderson Rudnick Investment Management LLC (company) — the reporting person and institutional investor
• NVE Corporation (company) — the issuer of the common stock
• December 31, 2023 (date) — the date of the event requiring the filing
• February 13, 2024 (date) — the filing date of the SC 13G/A
• Amendment No. 8 (number) — the specific amendment number to the SC 13G filing

FAQ

Filing Documents

• fp0086862-62_sc13ga.htm (SC 13G/A) — 82KB
• 0001398344-24-002764.txt ( ) — 84KB

If this statement is filed pursuant

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) [X] 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). CUSIP No. 629445206 13G Page 7 of 10 Pages

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: (1) Kayne Anderson Rudnick Investment Management LLC: (2) Virtus Investment Advisers, Inc.: (3) Virtus Equity Trust on behalf of Virtus KAR Small Cap Growth Fund: 451,690 331,233 220,690 (b) Percent of class: (1) Kayne Anderson Rudnick Investment Management LLC: (2) Virtus Investment Advisers, Inc.: (3) Virtus Equity Trust on behalf of Virtus KAR Small Cap Growth Fund: 9.35% 6.85% 4.57% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: (1) Kayne Anderson Rudnick Investment Management LLC: (2) Virtus Investment Advisers, Inc.: (3) Virtus Equity Trust on behalf of Virtus KAR Small Cap Growth Fund: 98,847 0 0 (ii) Shared power to vote or to direct the vote: (1) Kayne Anderson Rudnick Investment Management LLC: (2) Virtus Investment Advisers, Inc.: (3) Virtus Equity Trust on behalf of Virtus KAR Small Cap Growth Fund: 331,233 331,233 220,690 (iii) Sole power to dispose or to direct the disposition of: (1) Kayne Anderson Rudnick Investment Management LLC: (2) Virtus Investment Advisers, Inc.: (3) Virtus Equity Trust on behalf of Virtus KAR Small Cap Growth Fund: 120,457 0 0 (iv) Shared power to dispose or to direct the disposition of: (1) Kayne Anderson Rudnick Investment Management LLC: (2) Virtus Investment Advisers, Inc.: (3) Virtus Equity Trust on behalf of Virtus KAR Small Cap Growth Fund: 331,233 331,233 220,690

Ownership of Five Percent or Less of

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 owner of more than five percent of the class of securities, check the following [X] . Instruction . Dissolution of a group requires a response to this item. Virtus Equity Trust on behalf of Virtus KAR Small Cap Growth Fund has ceased to be a beneficial owner of more than five percent of the class of securities.

Ownership of More than Five Percent

Item 6. Ownership of More than Five Percent on Behalf of Another Person. With respect to securities owned by a registered investment company included in this filing, only the custodian for such investment company, has the right to receive dividends paid with respect to, and proceeds from the sale of, such securities. No other person is known to have such right, except that the shareholders of such investment company participate proportionately in any dividends and distributions so paid.

Identification and Classification of

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. N/A

Identification and Classification of Members of the Group

Item 8. Identification and Classification of Members of the Group. N/A

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group. N/A CUSIP No. 629445206 13G Page 9 of 10 Pages

Certification

Item 10. Certification. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above 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. Signature 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. Kayne Anderson Rudnick Investment Management, LLC By: /s/ Michael Shoemaker Name: Michael Shoemaker Title: Chief Compliance Officer Date: February 13, 2024 Virtus Investment Advisers, Inc. By: /s/ David Fusco Name: David Fusco Title: Vice President and Chief Compliance Officer Date: February 13, 2024 Virtus Equity Trust on behalf of Virtus KAR Small Cap Growth Fund By: /s/ Daphne Chisolm Name: Daphne Chisolm Title: Vice President, Counsel and Assistant Secretary Date: February 13, 2024 AGREEMENT JOINT FILING OF SCHEDULE 13G Kayne Anderson Rudnick Investment Management, LLC (an investment adviser registered under the Investment Advisers Act of 1940), and Virtus Investment Advisers, Inc. (an investment adviser registered under the Investment Advisers Act of 1940) and Virtus Equity Trust (on behalf of Virtus KAR Small-Cap Growth Fund), a Delaware statutory trust, hereby agree to file jointly the statement on Schedule 13G to which this Agreement is attached, and any amendments thereto which may be deemed necessary, pursuant to Regulation 13D-G under the Securities Exchange Act of 1934. It is understood and agreed that each of the parties hereto is responsible for the timely filing of such statement and any amendments thereto, and for the completeness and accuracy of the information concerning such party contained therein, but such party is not responsible for

View Full Filing

View this SC 13G/A filing on SEC EDGAR