Hatteras Investment Partners Discloses ~6.7% Stake in Beneficient

Rhea-AI Filing Summary

Hatteras Investment Partners, LP reports beneficial ownership of 562,749 shares of Beneficient Class A common stock, representing approximately 6.7% of the class. The filing states Hatteras is a Delaware limited partnership acting as an investment adviser with sole voting and dispositive power over these shares, which are held for one or more advisory clients. The filing notes that Hatteras Master Fund, LP has an interest equal to 5.6% of the class. Hatteras disclaims direct beneficial ownership except to the extent of any pecuniary interest and confirms the securities are held in the ordinary course of business and not to influence control of the issuer.

Positive

• Material stake disclosed: Hatteras reports ownership of 562,749 shares (~6.7% of the class), crossing the 5% reporting threshold.
• Sole voting and dispositive authority: Hatteras states it holds sole power to vote and dispose of the reported shares, clarifying control of client accounts.
• Client-held position: The filing specifies the shares are held on behalf of advisory clients, consistent with passive, advisory ownership under Schedule 13G/A.

Negative

• None.

Insights

Financial Analyst

TL;DR: Hatteras holds a meaningful passive stake (~6.7%) reported under Schedule 13G/A; position appears advisory, not activist.

Hatteras discloses sole voting and dispositive authority over 562,749 shares of Beneficient, indicating investment-advisory control rather than direct corporate control. The filing characterizes the holdings as client-directed and ordinary-course, consistent with a passive 13G reporting posture. The noted 5.6% interest by Hatteras Master Fund, LP is a sizable single-fund exposure relative to the class and warrants monitoring for changes in disclosure status if the position grows or if voting intent changes.

Corporate Governance Expert

TL;DR: Disclosure shows passive advisory ownership with sole voting authority recorded; no indication of intent to influence control.

The statement affirms the securities were not acquired to influence issuer control and were acquired in the ordinary course of business. The explicit disclaimer of beneficial ownership except for pecuniary interest aligns with standard adviser reporting. From a governance perspective, the filing does not signal an activism campaign or immediate governance pressure, but the >5% stake means any change in voting intent would be material and trigger different reporting obligations.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)

Beneficient

(Name of Issuer)

Beneficient Class A common stock, par value $0.001 per share

(Title of Class of Securities)

08178Q309

(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. 08178Q309

1

Names of Reporting Persons

Hatteras Investment Partners, LP

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 562,749.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 562,749.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

562,749.00

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)

6.7 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Beneficient
(b)	Address of issuer's principal executive offices: 325 N. SAINT PAUL STREET, SUITE 4850, DALLAS, TEXAS, 75201
Item 2.
(a)	Name of person filing: Hatteras Investment Partners, LP
(b)	Address or principal business office or, if none, residence: 8510 Colonnade Center Drive, Suite 150 Raleigh, NC 27615
(c)	Citizenship: Hatteras Investment Partners, LP is a Delaware limited partnership
(d)	Title of class of securities: Beneficient Class A common stock, par value $0.001 per share
(e)	CUSIP No.: 08178Q309
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: 562,749
(b)	Percent of class: 0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 562,749
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 562,749
	(iv) Shared power to dispose or to direct the disposition of: 0 The securities reported herein are beneficially owned by one or more registered investment companies or other discretionary advisory clients of Hatteras Investment Partners, LP. When an investment management contract delegates to Hatteras Investment Partners, LP investment discretion or voting power over the securities held in the investment advisory accounts that are subject to that agreement, Hatteras Investment Partners, LP considers itself to have sole investment or voting authority, as the case may be, unless the agreement specifies otherwise. Accordingly, Hatteras Investment Partners, LP reports on SCHEDULE 13G/A that it has sole investment discretion and voting authority over the securities covered by any such investment management agreement, unless otherwise noted in this Item 4. As a result, for purposes of Rule 13d-3 under the Act, Hatteras Investment Partners, LP may be deemed to be the beneficial owner of the securities reported in this SCHEDULE 13G/A. Hatteras Investment Partners, LP disclaims beneficial ownership of these securities except to the extent of its pecuniary interest therein, if any.
Item 5.	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. Clients of Hatteras Investment Partners, LP, including an investment company registered under the Investment Company Act of 1940 and other discretionary accounts, have the right to receive or power to direct the receipt of distributions from, and the proceeds from the sale of, the securities reported herein. Hatteras Master Fund, LP, an investment company registered under the Investment Company Act of 1940, has an interest in 5.6% of the class of securities reported herein.
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.

Hatteras Investment Partners, LP

Signature:	David B. Perkins
Name/Title:	President
Date:	08/19/2025

FAQ

How many Beneficient (BENF) Class A shares does Hatteras Investment Partners report owning?

Hatteras reports beneficial ownership of 562,749 shares of Beneficient Class A common stock.

What percentage of Beneficient does Hatteras's reported stake represent?

The filing reports the position represents approximately 6.7% of the class.

Does Hatteras have voting or dispositive power over the reported shares?

Yes. Hatteras reports sole voting power and sole dispositive power over the 562,749 shares.

Are the shares held personally by Hatteras or on behalf of clients?

The filing states the securities are held on behalf of one or more advisory clients and Hatteras acts in an investment-advisory capacity.

Does any affiliated fund have a notable interest in Beneficient?

Yes. The filing discloses that Hatteras Master Fund, LP has an interest equal to 5.6% of the class.