Ramaswamy updates Strive (ASST) stake to 9.8% as holders add shares

Rhea-AI Filing Summary

Strive, Inc. investors received an update on major shareholders through an Amendment No. 3 to a Schedule 13D. The filing shows that Vivek Ramaswamy now beneficially owns 113,877,929 shares of Class A common stock (assuming conversion of Class B), representing 9.8% of the class, with sole voting and dispositive power over these shares.

The Ramaswamy 2021 Irrevocable Trust reports 28,378,829 shares (2.6%), while other reporting persons, including Matthew Cole, 2025-10 Investments LLC, Logan Beirne, Virtuous Industries LLC, Benjamin Pham, LT&C LLC and Liberty Pier Foundation, each hold smaller stakes ranging from 0.01% to 0.8%, all on a sole voting and dispositive basis.

The amendment explains that these percentage changes reflect shares issued to former Semler Scientific, Inc. stockholders in a merger, additional Class B shares issued as vested compensation for certain reporting persons, and further acquisitions of Class A shares, including Matthew Cole’s purchase of 500,000 Class A shares on January 13, 2026 at prices between $0.91 and $0.92 per share.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 3)

Strive, Inc.

(Name of Issuer)

Class A Common Stock, $0.001 par value

(Title of Class of Securities)

862945102

(CUSIP Number)

Logan Beirne
Strive, Inc, 200 Crescent Court, Suite 1400
Dallas, TX, 75201
(872)-270-5406

Derek Dostal
Davis Polk & Wardwell LLP, 450 Lexington Avenue
New York, NY, 10017
212-450-4000

Evan Rosen
Davis Polk & Wardwell LLP, 450 Lexington Avenue
New York, NY, 10017
212-450-4000

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

01/16/2026

(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. 862945102

1

Name of reporting person

Vivek Ramaswamy

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)

OO

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 113,877,929.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 113,877,929.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

113,877,929.00

12

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

13

Percent of class represented by amount in Row (11)

9.8 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

Assumes conversion of Class B Common Stock (as defined below) into Class A Common Stock. See Item 5 below.

SCHEDULE 13D

CUSIP No. 862945102

1

Name of reporting person

Ramaswamy 2021 Irrevocable Trust

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)

OO

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 28,378,829.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 28,378,829.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

28,378,829.00

12

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

13

Percent of class represented by amount in Row (11)

2.6 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Assumes conversion of Class B Common Stock (as defined below) into Class A Common Stock. See Item 5 below.

SCHEDULE 13D

CUSIP No. 862945102

1

Name of reporting person

Matthew Cole

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)

OO

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 8,327,024.20
8	Shared Voting Power 0.00
9	Sole Dispositive Power 8,327,024.20
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

8,327,024.20

12

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

13

Percent of class represented by amount in Row (11)

0.8 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

Assumes conversion of Class B Common Stock (as defined below) into Class A Common Stock. See Item 5 below.

SCHEDULE 13D

CUSIP No. 862945102

1

Name of reporting person

2025-10 Investments 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)

OO

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 74,074.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 74,074.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

74,074.00

12

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

13

Percent of class represented by amount in Row (11)

0.01 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Assumes conversion of Class B Common Stock (as defined below) into Class A Common Stock. See Item 5 below.

SCHEDULE 13D

CUSIP No. 862945102

1

Name of reporting person

Logan Beirne

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)

OO

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 509,646.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 509,646.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

509,646.00

12

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

13

Percent of class represented by amount in Row (11)

0.05 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

Assumes conversion of Class B Common Stock (as defined below) into Class A Common Stock. See Item 5 below.

SCHEDULE 13D

CUSIP No. 862945102

1

Name of reporting person

Virtuous Industries 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)

OO

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 2,124,899.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 2,124,899.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

2,124,899.00

12

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

13

Percent of class represented by amount in Row (11)

0.2 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Assumes conversion of Class B Common Stock (as defined below) into Class A Common Stock. See Item 5 below.

SCHEDULE 13D

CUSIP No. 862945102

1

Name of reporting person

Benjamin Pham

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)

OO

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 4,362,988.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 4,362,988.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

4,362,988.00

12

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

13

Percent of class represented by amount in Row (11)

0.4 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

Assumes conversion of Class B Common Stock (as defined below) into Class A Common Stock. See Item 5 below.

SCHEDULE 13D

CUSIP No. 862945102

1

Name of reporting person

LT&C 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)

OO

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 366,709.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 366,709.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

129,630.00

12

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

13

Percent of class represented by amount in Row (11)

0.03 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Assumes conversion of Class B Common Stock (as defined below) into Class A Common Stock. See Item 5 below.

SCHEDULE 13D

CUSIP No. 862945102

1

Name of reporting person

Liberty Pier Foundation

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)

OO

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 3,691,901.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 3,691,901.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

3,691,901.00

12

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

13

Percent of class represented by amount in Row (11)

0.4 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Assumes conversion of Class B Common Stock (as defined below) into Class A Common Stock. See Item 5 below.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Class A Common Stock, $0.001 par value
(b)	Name of Issuer: Strive, Inc.
(c)	Address of Issuer's Principal Executive Offices: 200 Crescent Court, Suite 1400, Dallas, TEXAS , 75201.
Item 1 Comment: This Amendment No. 3 (this "Amendment") amends and supplements the Schedule 13D filed by the Reporting Persons on September 12, 2025 (the "Original Schedule 13D" and, as amended and supplemented by Amendment No. 1 to the Original Schedule 13D filed on November 17, 2025 (" Amendment No. 1") and Amendment No. 2 to the Original Schedule 13D filed on December 17, 2025 ("Amendment No. 2"), and this Amendment, (the "Schedule 13D"). This Amendment is being filed to reflect (i) updated percentage of class of securities information of the Reporting Persons as a result of the issuance of shares of Class A Common Stock to the stockholders of Semler Scientific, Inc. ("Semler Scientific"), in accordance with the terms and conditions of that certain Agreement and Plan of Merger, dated as of September 22, 2025 (as amended by that certain letter agreement, dated as of December 3, 2025), by and among the Issuer, Strive Merger Sub, Inc. and Semler Scientific, and the transactions described in the following clauses (ii) and (iii), (ii) an additional issuance of shares of Class B Common Stock in connection with vested compensation shares for certain Reporting Persons and (iii) additional acquisitions of shares of Class A Common Stock by certain Reporting Persons. Except as specifically provided herein, this Amendment does not modify any of the information previously reported on the Schedule 13D. Capitalized terms not otherwise defined in this Amendment shall have the same meanings ascribed thereto in the Original Schedule 13D. Information with respect to each of the Reporting Persons is given solely by such Reporting Person, and no Reporting Person assumes responsibility for the accuracy or completeness of the information concerning the other Reporting Persons, except as otherwise provided in Rule 13d-1(k).
Item 5.	Interest in Securities of the Issuer
(a)	Item 5(a) to the Original Schedule 13D is amended and restated in its entirety as follows: See Items 7-13 of the cover pages to this Amendment and Item 2 of the Schedule 13D (as amended by this Amendment).
(b)	Item 5(b) to the Original Schedule 13D is amended and restated in its entirety as follows: See Items 7-13 of the cover pages to this Amendment and Item 2 of the Schedule 13D (as amended by this Amendment).
(c)	Item(c) to the Original Schedule 13D is hereby amended and supplemented by adding the following at the end thereof: Since the filing of Amendment No. 2, Matthew Cole acquired shares of Class A Common Stock. On January 13, 2026, Matthew acquired 500,000 shares of Class A Common Stock. Such transactions were effected through brokerage accounts at share prices ranging from $0.91 to $0.92.

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.

Vivek Ramaswamy

Signature:	/s/ Vivek Ramaswamy
Name/Title:	Vivek Ramaswamy
Date:	01/22/2026

Ramaswamy 2021 Irrevocable Trust

Signature:	/s/ Brandon Guillemin
Name/Title:	Brandon Guillemin / Trust Officer of Rockefeller Trust Company of Delaware
Date:	01/22/2026

Matthew Cole

Signature:	/s/ Matthew Cole
Name/Title:	Matthew Cole
Date:	01/22/2026

2025-10 Investments LLC

Signature:	/s/ Benjamin Pham
Name/Title:	Benjamin Pham
Date:	01/22/2026

Logan Beirne

Signature:	/s/ Logan Beirne
Name/Title:	Logan Beirne
Date:	01/22/2026

Virtuous Industries LLC

Signature:	/s/ Vivek Ramaswamy
Name/Title:	Vivek Ramaswamy
Date:	01/22/2026

Benjamin Pham

Signature:	/s/ Benjamin Pham
Name/Title:	Benjamin Pham
Date:	01/22/2026

LT&C LLC

Signature:	/s/ Anastasia Cole
Name/Title:	Anastasia Cole
Date:	01/22/2026

Liberty Pier Foundation

Signature:	/s/ Anastasia Cole
Name/Title:	Anastasia Cole
Date:	01/22/2026

FAQ

What does the latest Schedule 13D/A reveal about Strive, Inc. (ASST) ownership?

The amendment shows updated beneficial ownership for several major holders of Strive, Inc. Class A common stock. Vivek Ramaswamy reports 113,877,929 shares, or 9.8% of the Class A common stock (assuming conversion of Class B), with sole voting and dispositive power. Other reporting persons, such as the Ramaswamy 2021 Irrevocable Trust, Matthew Cole and certain entities and individuals, each report smaller percentages.

How large is Vivek Ramaswamy’s stake in Strive, Inc. after this 13D/A amendment?

Vivek Ramaswamy is reported to beneficially own 113,877,929 shares of Strive, Inc. Class A common stock (assuming conversion of Class B shares), representing 9.8% of the class. He has sole voting power and sole dispositive power over these shares according to the cover page figures.

What is the Ramaswamy 2021 Irrevocable Trust’s ownership in Strive, Inc. (ASST)?

The Ramaswamy 2021 Irrevocable Trust reports beneficial ownership of 28,378,829 shares of Class A common stock (assuming conversion of Class B), equal to 2.6% of the class. The filing states that the trust has sole voting and sole dispositive power over these shares.

Did Matthew Cole buy additional Strive, Inc. shares in this period?

Yes. The amendment states that since the prior amendment, Matthew Cole acquired additional Class A common stock. On January 13, 2026, he purchased 500,000 shares of Class A common stock through brokerage accounts at share prices ranging from $0.91 to $0.92. His total beneficial ownership is listed as 8,327,024.20 shares, or 0.8% of the class.

Why did Strive, Inc.’s major shareholder percentages change in this 13D/A?

The amendment explains that the reported percentages changed due to several factors: issuance of Class A shares to former Semler Scientific, Inc. stockholders under a merger agreement, an additional issuance of Class B shares as vested compensation for certain reporting persons, and additional acquisitions of Class A shares by certain reporting persons.

Which other entities and individuals report beneficial ownership of Strive, Inc. shares?

Other reporting persons include 2025-10 Investments LLC with 74,074 shares (0.01%), Logan Beirne with 509,646 shares (0.05%), Virtuous Industries LLC with 2,124,899 shares (0.2%), Benjamin Pham with 4,362,988 shares (0.4%), LT&C LLC with 366,709 shares and an aggregate amount stated as 129,630 shares (0.03%), and Liberty Pier Foundation with 3,691,901 shares (0.4%), each reported with sole voting and dispositive power.

What corporate action involving Semler Scientific affected Strive, Inc. ownership figures?

The amendment notes that updated ownership percentages reflect issuance of Class A common stock to stockholders of Semler Scientific, Inc. under an Agreement and Plan of Merger dated September 22, 2025, as amended by a letter agreement dated December 3, 2025, involving the issuer, Strive Merger Sub, Inc. and Semler Scientific.