Millennium Management Discloses 3.5% Stake in Rush Enterprises (RUSHA)

TL;DR

**Millennium Management just bought 3.5% of Rush Enterprises, signaling institutional interest.**

AI Summary

Millennium Management LLC, a Delaware-based investment firm led by Israel A. Englander, reported on January 2, 2024, that it beneficially owns 2,000,000 shares of Class A Common Stock in Rush Enterprises, Inc. (RUSHA). This represents a 3.5% stake in the truck dealership company as of December 27, 2023. This matters to investors because it signals a significant institutional investment in Rush Enterprises, potentially indicating confidence in the company's future performance.

Why It Matters

A major hedge fund like Millennium Management taking a significant position can be seen as a vote of confidence, potentially attracting other investors and influencing stock price.

Risk Assessment

Risk Level: low — This filing indicates a passive investment by a large institution, which generally carries lower risk than an activist stake.

Analyst Insight

A smart investor would research Rush Enterprises further, considering this institutional investment as a potential positive signal, but also evaluate the company's fundamentals independently.

Key Numbers

• 2,000,000 — Shares Beneficially Owned (Represents the total number of Class A Common Stock shares of Rush Enterprises held by Millennium Management LLC.)
• 3.5% — Ownership Percentage (Indicates the percentage of Rush Enterprises' Class A Common Stock that Millennium Management LLC beneficially owns.)
• December 27, 2023 — Event Date (The specific date when the ownership threshold was met, requiring this SC 13G filing.)

Key Players & Entities

• Millennium Management LLC (company) — reporting person and investment firm
• Israel A. Englander (person) — group member associated with Millennium Management
• Rush Enterprises, Inc. (company) — subject company (issuer) of the stock
• 2,000,000 (dollar_amount) — number of shares beneficially owned
• 3.5% (dollar_amount) — percentage of Class A Common Stock owned
• December 27, 2023 (dollar_amount) — date of event requiring the filing

Forward-Looking Statements

• Millennium Management will maintain or increase its stake in Rush Enterprises over the next 6-12 months. (Millennium Management LLC) — medium confidence, target: 2025-01-02

FAQ

Key Financial Figures

• $0.01 — suer) CLASS A COMMON STOCK, PAR VALUE $0.01 PER SHARE (Title of Class of Securiti

Filing Documents

• RUSHA_SC13G.htm (SC 13G) — 78KB
• 0001273087-24-000001.txt ( ) — 80KB

If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), check whether the person filing is

Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), 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); CUSIP No. 781846209 SCHEDULE 13G Page 6 of 10 (g) o A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) o A savings association 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 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: See response to Item 9 on each cover page. After acquiring beneficial ownership of more than 5% of the outstanding Class A Common Stock on December 27, 2023, the reporting persons ceased to be beneficial owners of more than 5% of the outstanding Class A Common Stock by the date of this filing. (b) Percent of Class: See response to Item 11 on each cover page. (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote See response to Item 5 on each cover page. CUSIP No. 781846209 SCHEDULE 13G Page 7 of 10 (ii) Shared power to vote or to direct the vote See response to Item 6 on each cover page. (iii) Sole power to dispose or to direct the disposition of See response to Item 7 on each cover page. (iv) Shared power to dispose or to direct the disposition of See response to Item 8 on each cover page. The securities disclosed herein as potentially beneficially owned by Millennium Management LLC, Millennium Group Management LLC and Mr. Englander are held by entities subject to voting control and investment discretion by Millennium Management LLC and/or other investment managers that may be controlled by Millennium Group Management LLC (the managing member of Millennium Management LLC) and Mr. Englander (the sole voting trustee of the managing member of Millennium Group Management LLC). The foregoing should not be construed in and of itself as an admission by Millennium Management LLC, Millennium Group Management LLC or Mr. Englander as to beneficial ownership of the securities held by such entities.

Ownership of Five Percent or Less of a Class

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 þ .

Ownership of More than Five Percent on Behalf of Another Person

Item 6. Ownership of More than Five Percent on Behalf of Another Person. Not applicable.

Identification and Classification of the Subsidiary Which Acquired

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 of Members of the Group

Item 8. Identification and Classification of Members of the Group See Exhibit I.

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group Not applicable.

Certification

Item 10. Certification By signing below each of the undersigned certifies that, to the best of its 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. CUSIP No. 781846209 SCHEDULE 13G Page 8 of 10 Exhibits: Exhibit I: Joint Filing Agreement, dated as of December 29, 2023, by and among Millennium Management LLC, Millennium Group Management LLC and Israel A. Englander. CUSIP No. 781846209 SCHEDULE 13G Page 9 of 10 SIGNATURE After reasonable inquiry and to the best of its knowledge and belief, each of the undersigned certifies that the information with respect to it set forth in this statement is true, complete, and correct. Dated: December 29, 2023 MILLENNIUM MANAGEMENT LLC By: /s/Gil Raviv Name: Gil Raviv Title: Global General Counsel MILLENNIUM GROUP MANAGEMENT LLC By: /s/Gil Raviv Name: Gil Raviv Title: Global General Counsel /s/ Israel A. Englander Israel A. Englander CUSIP No. 781846209 SCHEDULE 13G Page 10 of 10 EXHIBIT I JOINT FILING AGREEMENT This will confirm the agreement by and among the undersigned that the Schedule 13G filed with the Securities and Exchange Commission on or about the date hereof with respect to the beneficial ownership by the undersigned of the Class A Common Stock, par value $0.01 per share, of Rush Enterprises, Inc. will be filed on behalf of each of the persons and entities named below in accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Dated: December 29, 2023 MILLENNIUM MANAGEMENT LLC

View Full Filing

View this SC 13G filing on SEC EDGAR