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Powerfleet, Inc. (AIOT) is the issuer in a Schedule 13G reporting that AWM Investment Company, Inc., an investment adviser, beneficially owned 7,019,580 common shares, or 5.2% of the class. AWM reported sole voting and dispositive power over shares held by three advised funds: Special Situations Cayman Fund, L.P. held 1,454,148 shares; Special Situations Fund III QP, L.P. held 4,948,889; and Special Situations Private Equity Fund, L.P. held 616,543.
Key Figures
Shares beneficially owned:7,019,580 sharesClass ownership:5.2%Special Situations Cayman Fund shares:1,454,148 shares+2 more
5 metrics
Shares beneficially owned7,019,580 sharesReported by AWM Investment Company, Inc.
Class ownership5.2%Percentage of Powerfleet common stock reported as beneficially owned by AWM
Special Situations Cayman Fund shares1,454,148 sharesHeld by Special Situations Cayman Fund, L.P.
Special Situations Fund III QP shares4,948,889 sharesHeld by Special Situations Fund III QP, L.P.
Special Situations Private Equity Fund shares616,543 sharesHeld by Special Situations Private Equity Fund, L.P.
Key Terms
beneficially owned, sole voting power, sole dispositive power, investment adviser
4 terms
beneficially ownedregulatory
"Amount beneficially owned: 7,019,580"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
sole voting powerregulatory
"Sole voting power over 1,454,148 shares"
Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.
sole dispositive powerregulatory
"Sole Dispositive Power 7,019,580.00"
Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.
investment adviserfinancial
"AWM is the investment adviser to each of the Funds"
An investment adviser is a person or firm that professionally manages money and gives recommendations about buying, selling, or holding investments. Like a financial coach or guide, they have a legal duty to act in a client's best financial interest, so their advice, fees and potential conflicts can directly affect returns and risk — making their role important for investors who want informed, accountable help with portfolios.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How many Powerfleet (AIOT) shares did AWM report beneficially owning?
AWM Investment Company, Inc. reported beneficial ownership of 7,019,580 Powerfleet common shares, equal to 5.2% of the class. The filing also reports that AWM had sole voting and dispositive power over the shares held by three advised funds.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Powerfleet, Inc.
(Name of Issuer)
Common Stock, Par Value $0.01
(Title of Class of Securities)
73931J109
(CUSIP Number)
09/30/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
73931J109
1
Names of Reporting Persons
AWM Investment Company, Inc.
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
7,019,580.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
7,019,580.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
7,019,580.00
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)
5.2 %
12
Type of Reporting Person (See Instructions)
IA
Comment for Type of Reporting Person: AWM Investment Company, Inc., a Delaware corporation (AWM), is the investment adviser to Special Situations Cayman Fund, L.P. (CAYMAN), Special Situations Fund III QP, L.P. (SSFQP) and Special Situations Private Equity Fund, L.P. (SSPE). (CAYMAN, SSFQP and SSPE will hereafter be referred to as the Funds). As the investment adviser to the Funds, AWM holds sole voting and investment power over 1,454,148 shares of Common Stock of the Issuer (the Shares) held by CAYMAN, 4,948,889 Shares held by SSFQP and 616,543 Shares held by SSPE.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Powerfleet, Inc.
(b)
Address of issuer's principal executive offices:
123 TICE BLVD., WOODCLIFF LAKE, NEW JERSEY, 07677
Item 2.
(a)
Name of person filing:
a Delaware corporation (AWM), which is the investment adviser to Special Situations Cayman Fund, L.P., a Cayman Islands Limited Partnership (CAYMAN), Special Situations Fund III QP, L.P., a Delaware limited partnership (SSFQP) and Special Situations Private Equity Fund, L.P., a Delaware limited partnership (SSPE), (CAYMAN, SSFQP and SSPE, will hereafter be referred to as the Funds). The principal business of each Fund is to invest in equity and equity-related securities and other securities of any kind or nature.
David M. Greenhouse (Greenhouse) and Adam C. Stettner (Stettner) are members of: SSCayman, L.L.C., a Delaware limited liability company (SSCAY), the general partner of CAYMAN; MGP Advisers Limited Partnership, a Delaware limited partnership (MGP), the general partner of SSFQP; and MG Advisers, L.L.C., a New York limited liability company (MG), the general partner of SSPE. Greenhouse and Stettner are also controlling principals of AWM.
(b)
Address or principal business office or, if none, residence:
527 Madison Avenue, Suite 2600
New York, NY 10022
(c)
Citizenship:
AWM is a Delaware Corporation
(d)
Title of class of securities:
Common Stock, Par Value $0.01
(e)
CUSIP Number(s):
73931J109
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)
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)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
7,019,580
(b)
Percent of class:
5.2 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
AWM is the investment adviser to each of the Funds. As the investment adviser to the Funds, AWM holds sole voting power over 1,454,148 shares of Common Stock of the Issuer (the Shares) held by CAYMAN, 4,948,889 Shares held by SSFQP and 616,543 Shares held by SSPE. Greenhouse and Stettner are members of: SSCAY, the general partner of CAYMAN. Greenhouse and Stettner are members of MGP, the general partner of SSFQP and MG, the general partner of SSPE. Greenhouse and Stettner are also controlling principals of AWM.
(ii) Shared power to vote or to direct the vote:
0
(iii) Sole power to dispose or to direct the disposition of:
AWM is the investment adviser to each of the Funds. As the investment adviser to the Funds, AWM holds sole investment power over 1,454,148 shares of Common Stock of the Issuer (the Shares) held by CAYMAN, 4,948,889 Shares held by SSFQP and 616,543 Shares held by SSPE. Greenhouse and Stettner are members of: SSCAY, the general partner of CAYMAN. Greenhouse and Stettner are members of MGP, the general partner of SSFQP and MG, the general partner of SSPE. Greenhouse and Stettner are also controlling principals of AWM.
(iv) Shared power to dispose or to direct the disposition of:
0
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
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, other than activities solely in connection with a nomination under § 240.14a-11.
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.
