Qatar fund trims Fluence Energy stake to 8.9%

Qatar Investment Authority, through its subsidiary Qatar Holding LLC, reported an updated ownership position in Fluence Energy, Inc. following a significant share sale.

Rhea-AI Filing Summary

Qatar Investment Authority, through its subsidiary Qatar Holding LLC, reported an updated ownership position in Fluence Energy, Inc. following a significant share sale. On May 15, 2026, Qatar Holding LLC sold 2,867,172 shares of Class A Common Stock for an aggregate $60,210,612 at $21 per share. After this transaction, the reporting person beneficially owns 11,801,103 shares of Class A Common Stock with sole voting and dispositive power, representing 8.9% of Fluence’s Class A shares, based on 132,811,490 shares outstanding as of May 1, 2026.

Insights

Equity ownership & governance analyst

Qatar’s sovereign fund trims its Fluence stake but remains a major holder.

Qatar Investment Authority reports beneficial ownership of 11,801,103 Fluence Class A shares, or 8.9%, after selling 2,867,172 shares at $21 per share for $60,210,612. Voting and dispositive power are described as sole, with no shared authority.

This is a partial reduction rather than an exit, so QIA continues as a significant shareholder. The reported percentage is calculated using 132,811,490 shares outstanding as of May 1, 2026. Actual market impact depends on how investors interpret a large sovereign holder’s decision to sell a block of shares while retaining a sizable position.

Key Figures

Shares sold: 2,867,172 shares Sale price per share: $21 per share Aggregate sale proceeds: $60,210,612 +3 more

6 metrics

Shares sold 2,867,172 shares Class A Common Stock sold May 15, 2026

Sale price per share $21 per share Price for May 15, 2026 block sale

Aggregate sale proceeds $60,210,612 Total for 2,867,172 shares sold

Shares beneficially owned 11,801,103 shares Class A shares with sole voting and dispositive power

Ownership percentage 8.9% Portion of Class A Common Stock outstanding

Shares outstanding reference 132,811,490 shares Class A shares outstanding as of May 1, 2026

Key Terms

beneficially owned, sole voting power, sole dispositive power, sovereign wealth fund, +1 more

5 terms

beneficially owned financial

"Aggregate amount beneficially owned by each reporting person 11,801,103.00"

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.

sole voting power financial

"Number of Shares Beneficially Owned by Each Reporting Person With: 7 | Sole Voting Power 11,801,103.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

sole dispositive power financial

"9 | Sole Dispositive Power 11,801,103.00"

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.

sovereign wealth fund financial

"Qatar Investment Authority ("QIA" or the "Reporting Person"), the sovereign wealth fund of the State of Qatar"

A sovereign wealth fund is a large savings pool managed by a country's government, created by setting aside part of the nation’s wealth—such as revenue from natural resources or budget surpluses—for future use. It functions like a national investment account, helping stabilize the economy and generate income over the long term. For investors, it represents a significant source of financial stability and potential investment opportunities in global markets.

Schedule 13D regulatory

"If the filing person has previously filed a statement on Schedule 13G to report the acquisition"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

FAQ

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

What stake does Qatar Investment Authority report in Fluence Energy (FLNC)?

Qatar Investment Authority reports beneficial ownership of 11,801,103 shares of Fluence Energy Class A Common Stock, representing 8.9% of the class. This percentage is based on 132,811,490 shares outstanding as of May 1, 2026, from Fluence’s Form 10-Q.

How many Fluence Energy shares did Qatar Holding LLC sell and at what price?

Qatar Holding LLC sold 2,867,172 shares of Fluence Energy Class A Common Stock at $21 per share. The aggregate sale amount was $60,210,612, reflecting a sizable block transaction by the subsidiary of Qatar Investment Authority.

What voting power does Qatar Investment Authority have over its Fluence Energy shares?

Qatar Investment Authority reports sole voting power over 11,801,103 shares of Fluence Energy Class A Common Stock and no shared voting power. It also reports the same amount as having sole dispositive power, indicating exclusive authority over voting and disposition decisions.

How was the 8.9% ownership percentage in Fluence Energy calculated for Qatar Investment Authority?

The 8.9% ownership figure is calculated using 132,811,490 Class A shares outstanding as of May 1, 2026, as disclosed in Fluence Energy’s Form 10-Q filed May 6, 2026. Qatar Investment Authority’s 11,801,103 shares are measured against that share count.

Did Qatar Investment Authority report other Fluence Energy share transactions in the last 60 days?

No. Apart from the May 15, 2026 sale of 2,867,172 shares, Qatar Investment Authority states it has not effected any other transactions in Fluence Energy Class A Common Stock during the past sixty days, based on its Schedule 13D disclosure language.

Who holds the Fluence Energy shares reported by Qatar Investment Authority?

The Fluence Energy Class A shares are held of record by Qatar Holding LLC, a limited liability company formed under the laws of Qatar and a wholly owned subsidiary of Qatar Investment Authority, which is the sovereign wealth fund of the State of Qatar.

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

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Accepted by SEC EDGAR 05/18/2026 - 09:39 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

Fluence Energy, Inc.

(Name of Issuer)

Class A Common Stock, $0.00001 par value

(Title of Class of Securities)

34379V103

(CUSIP Number)

Charles Hubbard
Ooredoo Tower (Building 14) Al Dafna St, Street 801 Al Dafna (Zone 61)
Doha, S3, Zone 61
0097444990696

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

05/15/2026

(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).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 34379V103

1

Name of reporting person

Qatar Investment Authority

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

QATAR

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 11,801,103.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 11,801,103.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

11,801,103.00

12

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

13

Percent of class represented by amount in Row (11)

8.9 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

The reported percentage is calculated based upon 132,811,490 shares of Class A Common Stock outstanding as of May 1, 2026, as reported in the Issuer's Form 10-Q filed with the SEC on May 6, 2026.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Class A Common Stock, $0.00001 par value
(b)	Name of Issuer: Fluence Energy, Inc.
(c)	Address of Issuer's Principal Executive Offices: 4601 FAIRFAX DRIVE, SUITE 600, ARLINGTON, VIRGINIA , 22203.
Item 2.	Identity and Background
(a)	This Schedule 13D is filed by Qatar Investment Authority ("QIA" or the "Reporting Person"), the sovereign wealth fund of the State of Qatar, with respect to the Class A Common Stock held of record by Qatar Holding LLC (the "Investor"), a limited liability company formed under the laws of Qatar, and a wholly-owned subsidiary of the Reporting Person.
(b)	The principal business address and residence of the Reporting Person is Ooredoo Tower (Building 14), Al Dafna Street (Street 801), Al Dafna (Zone 61), PO Box 23224 Doha, State of Qatar.
(c)	This Schedule 13D is filed by Qatar Investment Authority ("QIA" or the "Reporting Person"), the sovereign wealth fund of the State of Qatar, with respect to the Class A Common Stock held of record by Qatar Holding LLC (the "Investor"), a limited liability company formed under the laws of Qatar, and a wholly-owned subsidiary of the Reporting Person.
(d)	During the last five years, the Reporting Person has not been (i) convicted in any criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
(e)	During the last five years, the Reporting Person has not been (i) convicted in any civil proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
(f)	Qatar
Item 3.	Source and Amount of Funds or Other Consideration
	On May 15, 2026, the Qatar Holding LLC sold 2,867,172 shares of Class A Common Stock in an aggregate amount equal to $60,210,612 at $21 per share.
Item 4.	Purpose of Transaction
	Item 4 is supplemented by reference to Item 3.
Item 5.	Interest in Securities of the Issuer
(a)	The Reporting Person has sole voting and dispositive power over 11,801,103.00 Class A Common Stock, representing 8.9% of the outstanding Class A Common Stock
(b)	(i) Sole power to vote or direct the vote: 11,801,103.00 (ii) Shared power to vote or direct the vote: 0 (iii) Sole power to dispose or direct the disposition: 11,801,103.00 (iv) Shared power to dispose or direct the disposition: 0
(c)	Apart from the transaction as reported in this Schedule 13D the Reporting Person has not effected any transactions in Class A Common Stock during the past sixty days.
(d)	To the best knowledge of the Reporting Person, no person other than the Reporting Person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities beneficially owned by the Reporting Person.
(e)	Not applicable
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Item 6 of the Schedule 13D is hereby supplemented by incorporating reference of Item 2a.

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.

Qatar Investment Authority

Signature:	Mohammed Fahad Al Khulaifi
Name/Title:	Head of Compliance and Governance
Date:	05/18/2026