[SCHEDULE 13G/A] Bel Fuse Inc SEC Filing

Rhea-AI Filing Summary

JPMorgan Chase & Co. has filed Amendment No. 1 to Schedule 13G disclosing its passive ownership in UL Solutions Inc. (ticker: ULS) as of 30 June 2025.

• Shares held: 2,828,260 Class A shares.
• Ownership: 4.5 % of the class, keeping the position below the 5 % threshold that would require a Schedule 13D.
• Control rights: Sole voting power over 2,676,769 shares and sole dispositive power over 2,819,848 shares; no shared voting or dispositive authority.
• Filer classification: Parent holding company (HC) under Rule 13d-1(b); the stake is held in the ordinary course with no intent to influence corporate control.
• Involved subsidiaries: J.P. Morgan Securities LLC, JPMorgan Chase Bank N.A., J.P. Morgan Trust Co. of Delaware, among others.

The filing signals continued institutional support for ULS while confirming that JPMorgan’s position remains non-controlling and purely investment-oriented.

Positive

• Institutional backing: JPMorgan’s 2.83 M-share holding provides liquidity and signals continued interest from a major financial institution.

Negative

• Sub-5 % stake: With ownership at 4.5 %, JPMorgan lacks meaningful control, offering limited insight into strategic confidence.

Insights

Portfolio Manager

TL;DR: JPMorgan reports a 4.5 % passive stake in ULS; modest, non-activist holding—neutral market impact.

Because the position sits below the 5 % level, this amendment mainly fulfills regulatory disclosure duties and does not suggest material strategic intent. Sole voting and dispositive powers show JPMorgan can freely trade the shares, but the absence of shared authority or group status limits governance influence. For investors, the filing confirms a sizable yet non-controlling institutional backer, supporting liquidity without signaling directional conviction. Overall impact on valuation or control dynamics is minimal.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

BEL FUSE INC.

(Name of Issuer)

Class A Common Stock ($0.10 par value)

(Title of Class of Securities)

077347201

(CUSIP Number)

06/30/2025

(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)

SCHEDULE 13G

CUSIP No. 077347201

1

Names of Reporting Persons

JPMORGAN CHASE & CO.

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 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 763.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

763.00

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)

0.0 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: BEL FUSE INC.
(b)	Address of issuer's principal executive offices: 300 Executive Drive Suite 300 West Orange NJ 07052
Item 2.
(a)	Name of person filing: JPMORGAN CHASE & CO.
(b)	Address or principal business office or, if none, residence: 383 Madison Avenue,,New York, NY 10179
(c)	Citizenship: DE
(d)	Title of class of securities: Class A Common Stock ($0.10 par value)
(e)	CUSIP No.: 077347201
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: 763
(b)	Percent of class: 0.0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 763
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. 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.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. JPMorgan Chase Bank, National Association
Item 8.	Identification and Classification of Members of the Group.
	If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group. Not Applicable
Item 9.	Notice of Dissolution of Group.
	Notice of dissolution of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security reported on will be filed, if required, by members of the group, in their individual capacity. See Item 5. 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.

JPMORGAN CHASE & CO.

Signature:	Rachel Tsvaygoft
Name/Title:	Vice President
Date:	07/31/2025

FAQ

How many UL Solutions (ULS) shares does JPMorgan own?

JPMorgan beneficially owns 2,828,260 Class A shares.

What percentage of UL Solutions’ outstanding shares is held by JPMorgan?

The filing reports an ownership of 4.5 % of the Class A common stock.

Does JPMorgan intend to influence control of UL Solutions?

No. The certification states the shares are held in the ordinary course with no intent to influence control.

When was the ownership position effective?

The ownership data is as of 30 June 2025, with the filing dated 31 July 2025.

What voting power does JPMorgan have over its ULS shares?

It holds sole voting power over 2,676,769 shares and sole dispositive power over 2,819,848 shares.