SIT Investment Associates Amends Putnam Master Income Trust Filing

TL;DR

SIT Investment Associates filed an update on their PIM holdings. Watch for changes.

AI Summary

SIT Investment Associates Inc. filed an amendment (No. 3) to its Schedule 13D on September 3, 2024, regarding its holdings in Putnam Master Intermediate Income Trust (PIM). The filing indicates a change in the reporting person's beneficial ownership as of August 30, 2024. SIT Investment Associates Inc. is based in Minneapolis, MN, and Putnam Master Intermediate Income Trust is incorporated in MA.

Why It Matters

This amendment signals a potential shift in the ownership structure or investment strategy concerning Putnam Master Intermediate Income Trust, which could influence its market performance.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings often indicate significant changes in beneficial ownership, which can lead to increased volatility or strategic shifts for the subject company.

Key Players & Entities

• SIT INVESTMENT ASSOCIATES INC (company) — Filing Person
• PUTNAM MASTER INTERMEDIATE INCOME TRUST (company) — Subject Company
• Paul E. Rasmussen (person) — Person Authorized to Receive Notices

FAQ

Filing Documents

• sit240934_sch13da.htm (SC 13D/A) — 92KB
• 0000897101-24-000429.txt ( ) — 93KB

Interest in Securities of the Issuer

ITEM 5 Interest in Securities of the Issuer

of Schedule 13D is hereby amended to read as follows

Item 5 of Schedule 13D is hereby amended to read as follows: a) The aggregate percentage of Shares reported owned by Sit Entities herein is based upon 48,184,341 Shares outstanding as of August 30, 2024, which is the total number of Shares outstanding as reported by the Issuer on its website. As of the date hereof, the Sit Entities may be deemed to be the beneficial owner of 22,638,860 Shares held in client accounts which represent 46.98% of the Issuer’s outstanding Shares. b) Each of the Sit Entities may be deemed to have shared power to vote and dispose of such Shares. However, none of SIA’s or SFI’s directors or executive officers own Shares directly. c) Transactions in Shares by the Sit Entities in the last 60 days are set forth in Exhibit A. d) The clients of SIA and SFI have the right to participate in the receipt of dividends from, or proceeds from the sales of, the Shares held for their respective accounts. e) Not applicable.

Materials to be Filed as Exhibits

ITEM 7 Materials to be Filed as Exhibits Exhibit A: Schedule of Transactions in Shares by Sit Entities in the last 60 days. 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. September 3, 2024 By: Sit Investment Associates, Inc. /s/ Roger J. Sit Name/Title: Roger J. Sit, Chairman & CEO By: Sit Fixed Income Advisors II, LLC /s/ Roger J. Sit Name/Title: Roger J. Sit, Chairman & CEO EXHIBIT A Schedule of Transactions in Shares by Sit Entities in the last 60 days: Date of Transaction Transaction Shares of Common Stock Price Per Share 07/05/2024 BUY 16,210 3.24 07/08/2024 BUY 3,743 3.27 07/09/2024 BUY 1,646 3.28 07/10/2024 BUY 1,200 3.27 07/15/2024 BUY 15,397 3.32 07/16/2024 BUY 120,101 3.32 07/19/2024 BUY 14,554 3.31 07/22/2024 BUY 1,394 3.31 07/25/2024 BUY 8,339 3.28 07/29/2024 BUY 15,650 3.29 07/30/2024 BUY 200 3.29 08/02/2024 BUY 9,373 3.33 08/08/2024 BUY 29,403 3.28 08/09/2024 BUY 72,911 3.30 08/12/2024 BUY 4,975 3.31 08/13/2024 BUY 200 3.31 08/14/2024 BUY 12,561 3.31 08/16/2024 BUY 353 3.33 08/19/2024 BUY 15,254 3.32 08/21/2024 BUY 10,172 3.34 08/22/2024 BUY 5,110 3.35 08/23/2024 BUY 6,608 3.35 08/26/2024 BUY 83,089 3.31 08/27/2024 BUY 29,680 3.34 08/28/2024 BUY 13,624 3.33 08/29/2024 BUY 20,270 3.35 08/30/2024 BUY 756,131 3.35