Calm Waters reports 5% stake in CPI Aerostructures

Calm Waters Partnership and Richard S. Strong report their beneficial ownership of CPI Aerostructures Inc. common stock.

Accepted by SEC EDGAR 07/16/2026 - 04:45 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Calm Waters Partnership and Richard S. Strong report their beneficial ownership of CPI Aerostructures Inc. common stock. Calm Waters has shared voting and dispositive power over 496,000 shares, representing 3.8% of the common stock class.

Richard S. Strong beneficially owns 656,000 shares, or 5.0% of the class. He holds 160,000 shares with sole voting and dispositive power and shares voting and dispositive power over 496,000 shares with Calm Waters. The reporting persons list a joint contact address in Milwaukee, Wisconsin.

Key Figures

Calm Waters shares: 496,000 shares Calm Waters ownership percentage: 3.8 % Richard S. Strong total shares: 656,000 shares +3 more

6 metrics

Calm Waters shares 496,000 shares Shares of CPI Aerostructures common stock with shared voting and dispositive power for Calm Waters Partnership

Calm Waters ownership percentage 3.8 % Percent of CPI Aerostructures common stock class reported by Calm Waters Partnership

Richard S. Strong total shares 656,000 shares Total CPI Aerostructures common shares beneficially owned by Richard S. Strong

Richard S. Strong sole power shares 160,000 shares Shares over which Richard S. Strong has sole voting and dispositive power

Richard S. Strong shared power shares 496,000 shares Shares over which Richard S. Strong shares voting and dispositive power with Calm Waters Partnership

Richard S. Strong ownership percentage 5.0 % Percent of CPI Aerostructures common stock class beneficially owned by Richard S. Strong

Key Terms

beneficially owned, Shared Voting Power, Sole Dispositive Power, Shared Dispositive Power, +1 more

5 terms

beneficially owned financial

"Amount beneficially owned: See responses to Item 9 of the cover pages."

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.

Shared Voting Power financial

"Shared Voting Power 496,000.00 7 | Sole Dispositive Power"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

Sole Dispositive Power financial

"Sole Dispositive Power 160,000.00 8 | Shared Dispositive Power"

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.

Shared Dispositive Power financial

"Shared Dispositive Power 496,000.00 9 656,000.00"

CUSIP No. financial

"Title of class of securities: Common Stock, $.001 par value (e) | CUSIP No.: 125919308"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What stake in CPI Aerostructures (CVU) does Calm Waters Partnership report?

Calm Waters Partnership reports beneficial ownership of 496,000 shares of CPI Aerostructures common stock, with shared voting and dispositive power over those shares. This position represents 3.8% of the company’s common stock class.

How many CPI Aerostructures (CVU) shares does Richard S. Strong beneficially own?

Richard S. Strong beneficially owns 656,000 shares of CPI Aerostructures common stock, equal to 5.0% of the class. He has sole power over 160,000 shares and shared power over 496,000 shares.

What voting and dispositive powers do the CVU reporting persons have over their shares?

Calm Waters Partnership has shared voting and dispositive power over 496,000 shares. Richard S. Strong has sole voting and dispositive power over 160,000 shares and shares voting and dispositive power over 496,000 shares with Calm Waters.

What class of CPI Aerostructures (CVU) securities is covered and what is the CUSIP?

The filing covers CPI Aerostructures’ common stock with a par value of $0.001 per share. The security is identified by CUSIP No. 125919308, as specified in the ownership disclosure.

Who are the reporting persons in this CVU Schedule 13G/A and what are their citizenships?

The reporting persons are Calm Waters Partnership, a Wisconsin general partnership, and Richard S. Strong, a United States citizen. Both may be contacted through a shared business address in Milwaukee, Wisconsin.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

CPI AEROSTRUCTURES INC

(Name of Issuer)

Common Stock, $.001 par value

(Title of Class of Securities)

125919308

(CUSIP Number)

06/30/2026

(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): 125919308

1

Names of Reporting Persons

CALM WATERS PARTNERSHIP

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

WISCONSIN

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 496,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 496,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

496,000.00

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)

3.8 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 125919308

1

Names of Reporting Persons

STRONG RICHARD S

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

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 160,000.00
6	Shared Voting Power 496,000.00
7	Sole Dispositive Power 160,000.00
8	Shared Dispositive Power 496,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

656,000.00

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)

5.0 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: CPI AEROSTRUCTURES INC
(b)	Address of issuer's principal executive offices: 200A EXECUTIVE DR, EDGEWOOD, NEW YORK, 11717.
Item 2.
(a)	Name of person filing: Calm Waters Partnership Richard S. Strong
(b)	Address or principal business office or, if none, residence: All reporting persons may be contacted at: c/o Godfrey & Kahn, S.C. 833 East Michigan Street, Suite 1800 Milwaukee, WI 5320
(c)	Citizenship: Calm Waters Partnership is a Wisconsin general partnership. Richard S. Strong is a United States citizen
(d)	Title of class of securities: Common Stock, $.001 par value
(e)	CUSIP No.: 125919308
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: See responses to Item 9 of the cover pages.
(b)	Percent of class: See responses to Item 11 of the cover pages.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: For information on voting and dispositive power with respect to the above listed shares, see Items 5-8 of the cover pages.
	(ii) Shared power to vote or to direct the vote: For information on voting and dispositive power with respect to the above listed shares, see Items 5-8 of the cover pages.
	(iii) Sole power to dispose or to direct the disposition of: For information on voting and dispositive power with respect to the above listed shares, see Items 5-8 of the cover pages.
	(iv) Shared power to dispose or to direct the disposition of: For information on voting and dispositive power with respect to the above listed shares, see Items 5-8 of the cover pages.
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.
	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 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.

CALM WATERS PARTNERSHIP

Signature:	/s/ Richard S. Strong
Name/Title:	Richard S. Strong, Managing Partner
Date:	07/15/2026

STRONG RICHARD S

Signature:	/s/ Richard S. Strong
Name/Title:	Richard S. Strong
Date:	07/15/2026

Exhibit Information

Exhibit 1 - Joint Filing Agreement (incorporated by reference to Exhibit 1 of the Reporting Persons' Schedule 13G filed with the SEC on April 3, 2025) https://www.sec.gov/Archives/edgar/data/889348/000089271225000047/exhibit1.htm