Schedule 13D/A: Davidson Kempner discloses 17.40% ownership; block sale of 595,000 shares

Rhea-AI Filing Summary

Amendment No. 6 to a Schedule 13D reports that Davidson Kempner Capital Management LP, Xylem Finance LLC and Anthony A. Yoseloff collectively beneficially own 4,134,210 shares of Angel Oak Mortgage REIT, Inc. common stock, representing 17.40% of the 23,765,202 shares outstanding used for the calculation. The filing restates Items 5(a)-(c) of the prior Schedule 13D.

On August 21, 2025 the reporting persons sold 595,000 shares in a block trade to an unaffiliated financial institution at $9.75 per share. Cover pages show Xylem Finance LLC (source of funds: WC), Davidson Kempner (source of funds: AF) and shared voting/dispositive power of 4,134,210 shares.

Positive

• Material ownership disclosed: Reporting persons beneficially own 4,134,210 shares representing 17.40% of outstanding common stock.
• Transaction transparency: The filing reports a specific block trade of 595,000 shares at $9.75 per share to an unaffiliated financial institution.

Negative

• Disposition of shares: Reporting persons sold 595,000 shares, reducing their position via a block trade.
• Shared control only: Cover pages show 0 shares of sole voting or dispositive power, indicating decisions are not held solely by one reporting person.

Insights

Financial Analyst

TL;DR: Reporting group holds a significant 17.40% stake; a recent block sale of 595,000 shares at $9.75 was executed.

The filing documents continued substantial ownership by Davidson Kempner and affiliated reporting persons totaling 4,134,210 shares, equating to 17.40% of outstanding common stock based on 23,765,202 shares. The disclosed block trade on August 21, 2025 reduced share count by 595,000 shares sold to an unaffiliated financial institution at $9.75 per share. Voting and dispositive powers are reported as shared for the full reported position. This is a routine Section 13D amendment to update Item 5 information and transaction detail; the disclosure provides clear ownership and recent transaction metrics but contains no operational or financial performance data.

Corporate Governance Expert

TL;DR: Disclosure clarifies substantial holder structure and recent disposition; shared control of 4,134,210 shares is confirmed.

The amendment restates Items 5(a)-(c) to reflect ownership calculations and a contemporaneous block sale. The cover pages indicate shared voting and dispositive power across the reporting persons rather than sole control. The filing properly reports source-of-funds codes and the block trade counterpart as unaffiliated. From a governance perspective, the document confirms material ownership and a transparent disclosure of a sizable disposition but does not indicate any change in control actions or proposals.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 6)

Angel Oak Mortgage REIT, Inc.

(Name of Issuer)

Common Stock, par value $0.01 par value per share

(Title of Class of Securities)

03464Y108

(CUSIP Number)

Shulamit Leviant, Esq.
Davidson Kempner Capital Management LP, 9 West 57th Street, 29th Floor
New York, NY, 10019
212-446-4053

Ele Klein & Adriana Schwartz
McDermott Will & Schulte LLP, 919 Third Avenue
New York, NY, 10022
212-756-2000

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

08/21/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on 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 ("Act") 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).

SCHEDULE 13D

CUSIP No. 03464Y108

1

Name of reporting person

Xylem Finance LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 4,134,210.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 4,134,210.00

11

Aggregate amount beneficially owned by each reporting person

4,134,210.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

17.40 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP No. 03464Y108

1

Name of reporting person

Davidson Kempner Capital Management LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 4,134,210.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 4,134,210.00

11

Aggregate amount beneficially owned by each reporting person

4,134,210.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

17.40 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 03464Y108

1

Name of reporting person

Anthony A. Yoseloff

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 4,134,210.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 4,134,210.00

11

Aggregate amount beneficially owned by each reporting person

4,134,210.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

17.40 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value $0.01 par value per share
(b)	Name of Issuer: Angel Oak Mortgage REIT, Inc.
(c)	Address of Issuer's Principal Executive Offices: 3344 PEACHTREE ROAD NE, SUITE 1725, ATLANTA, GEORGIA , 30326.
Item 1 Comment: This Amendment No. 6 ("Amendment No. 6") amends and supplements the statement on Schedule 13D filed with the Securities and Exchange Commission on July 1, 2021 (the "Original Schedule 13D", and the Original Schedule 13D as amended, the "Schedule 13D"). This Amendment No. 6 amends and restates Items 5(a)-(c) as set forth below. Capitalized terms used herein and not otherwise defined in this Amendment No. 6 have the meanings set forth in the Schedule 13D.
Item 5.	Interest in Securities of the Issuer
(a)	See rows (11) and (13) of the cover pages to this Schedule 13D for the aggregate number of shares of Common Stock and percentages of the shares of Common Stock beneficially owned by each of the Reporting Persons. The percentages used in this Schedule 13D are calculated based upon an aggregate of 23,765,202 shares of Common Stock outstanding as of August 6, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2025, filed with the Securities and Exchange Commission on August 6, 2025.
(b)	See rows (7) through (10) of the cover pages to this Schedule 13D for the number of shares of Common Stock as to which each Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition.
(c)	On August 21, 2025, the Reporting Persons sold 595,000 shares of Common Stock in a block trade with an unaffiliated financial institution counterparty at a price of $9.75 per share. Except as set forth in this Item 5(c), the Reporting Persons did not effect any transactions in the shares of Common Stock within the past sixty (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.

Xylem Finance LLC

Signature:	/s/ Anthony A. Yoseloff
Name/Title:	Anthony A. Yoseloff, Executive Managing Member of Davidson Kempner Capital Management LP, Investment Manager of Xylem
Date:	08/25/2025

Davidson Kempner Capital Management LP

Signature:	/s/ Anthony A. Yoseloff
Name/Title:	Anthony A. Yoseloff, Executive Managing Member
Date:	08/25/2025

Anthony A. Yoseloff

Signature:	/s/ Anthony A. Yoseloff
Name/Title:	Anthony A. Yoseloff, Individually
Date:	08/25/2025

FAQ

How many Angel Oak Mortgage REIT (AOMR) shares do the reporting persons own?

The reporting persons beneficially own 4,134,210 shares, equal to 17.40% of 23,765,202 outstanding shares used for the calculation.

Did the reporting persons sell any AOMR shares recently?

Yes. On August 21, 2025 they sold 595,000 shares in a block trade at $9.75 per share to an unaffiliated financial institution.

Who are the reporting persons named in the Schedule 13D/A?

The reporting persons listed are Xylem Finance LLC, Davidson Kempner Capital Management LP and Anthony A. Yoseloff.

What voting and dispositive powers are reported?

Cover pages report 0 shares of sole voting or dispositive power and 4,134,210 shares of shared voting and dispositive power.

What sources of funds are disclosed on the cover pages?

The cover pages list source-of-funds codes: WC for Xylem Finance LLC and AF for Davidson Kempner Capital Management LP.