Pilgrim Global ICAV Holds 11.0% Stake in Navios Maritime Partners

TL;DR

**Pilgrim Global ICAV owns 11.0% of Navios Maritime Partners, a significant passive stake.**

AI Summary

Pilgrim Global ICAV, an Irish investment company, filed an amended SC 13G/A on January 10, 2024, disclosing its beneficial ownership in Navios Maritime Partners L.P. As of December 8, 2023, Pilgrim Global ICAV holds 4,612,819 common units, representing 11.0% of the company's outstanding shares. This filing indicates a significant passive investment by Pilgrim Global ICAV, signaling their continued confidence in Navios Maritime Partners L.P. and potentially influencing future investor sentiment.

Why It Matters

This filing shows a major institutional investor, Pilgrim Global ICAV, maintains a substantial stake in Navios Maritime Partners L.P., which can be seen as a vote of confidence and may influence other investors.

Risk Assessment

Risk Level: low — This filing indicates a passive investment by a large entity, which generally poses low risk to existing shareholders.

Analyst Insight

Investors should note Pilgrim Global ICAV's continued substantial, passive ownership as a potential indicator of long-term institutional interest in Navios Maritime Partners L.P.

Key Numbers

• 4,612,819 — Common Units (beneficially owned by Pilgrim Global ICAV)
• 11.0% — Percent of Class (represented by Pilgrim Global ICAV's ownership)

Key Players & Entities

• Pilgrim Global ICAV (company) — the reporting person and beneficial owner
• Navios Maritime Partners L.P. (company) — the issuer of the securities
• Ireland (company) — place of organization for Pilgrim Global ICAV
• December 8, 2023 (date) — date of event requiring the filing

Forward-Looking Statements

• Pilgrim Global ICAV will maintain its significant stake in Navios Maritime Partners L.P. for the foreseeable future. (Pilgrim Global ICAV) — medium confidence, target: 2025-01-10

FAQ

Filing Documents

• d10904048_13g-a.htm (SC 13G/A) — 101KB
• 0000919574-24-000294.txt ( ) — 102KB

From the Filing

SC 13G/A 1 d10904048_13g-a.htm SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 SCHEDULE 13G (Rule 13d-102) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1(b)(c), AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(b) (Amendment No. 3) Navios Maritime Partners L.P. (Name of Issuer) Common Units, representing limited partner interests (Title of Class of Securities) Y62267409 (CUSIP Number) December 8, 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) [_] Rule 13d-1(c) [_] Rule 13d-1(d) 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 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. Y62267409 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Pilgrim Global ICAV 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [_] (b) [_] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Ireland NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 4,612,819 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 4,612,819 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,612,819 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [_] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 15.3% 12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) FI CUSIP No. Y62267409 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Pilgrim Global Advisors LLC 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [_] (b) [_] 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 0 6. SHARED VOTING POWER 4,779,679 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 4,779,679 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,779,679 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [_] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 15.8% 12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IA CUSIP No. Y62267409 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Darren Maupin 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [_] (b) [_] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION USA NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 47,527 6. SHARED VOTING POWER 4,779,679 7. SOLE DISPOSITIVE POWER 47,527 8. SHARED DISPOSITIVE POWER 4,779,679 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,827,206 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [_] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 16.0% 12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN, HC CUSIP No. Y62267409 Item 1. (a). Name of Issuer: Navios Maritime Partners L.P. (b). Address of issuer's principal executive offices: 7 Avenue de Grande Bretagne, Office 11B2 Monte Carlo, MC 98000 Monaco Item 2. (a)-(c). Name Principal Business Address, and Citizenship of Person Filing: Pilgrim Global ICAV 33 Sir John Rogerson's Quay Dublin 2 Ireland Pilgrim Global Advisors LLC 4785 Caughlin Parkway Reno, Nevada 89519 Darren Maupin c/o Pilgrim Global Advisors LLC 4785 Caughlin Parkway Reno, Nevada 89519 Item 2. (d) Title of class of securities: Common Units, representing limited partner interests Item 2. (e). CUSIP No.: Y62267409 Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) [_] Broker or dealer registered under Section 15 of the Exchange Act. (b) [_] Bank as defined in Section 3(a)(6) of the Exchange Act. (c) [_] Insurance company as defined in Section 3(a)(19) of the Exchange Act. (d) [_] Investment company registered under Section 8 of the Investment Company Act. (e) [x] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) [_] An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); (g) [x] A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); (h) [_] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act; (i) [_] A church plan that is excluded fr