Shikiar Asset takes 152,700 FTAI Aviation Series D preferred stake

Rhea-AI Filing Summary

Shikiar Asset Management Inc. has filed a Schedule 13G revealing ownership of 152,700 FTAI Aviation Ltd. Series D Cumulative Perpetual Preferred Shares, representing 5.9 % of the class as of 30 June 2025. The New-York-based investment adviser reports sole voting and dispositive power over the entire stake, with no shared control. The filing is made under Rule 13d-1(b) because the firm qualifies as an Investment Adviser ("IA").

Crossing the 5 % threshold mandates this passive disclosure but does not signal an intent to influence company control; the certification expressly states the position is held in the ordinary course of business. While the preferred-share position does not affect common-stock governance, it adds another institutional holder to the preferred equity base, implying incremental demand for the income-oriented Series D shares.

Positive

• Institutional holder crosses 5 % threshold, signaling additional demand for FTAI’s Series D preferred shares and potentially enhancing market liquidity.

Negative

• Event pertains only to preferred shares; it provides no insight into common-stock fundamentals or future strategic actions, limiting overall market impact.

Insights

Securities Analyst

TL;DR: Passive 5.9 % stake in FTAI Series D preferred; modestly supportive for preferred liquidity, immaterial to common equity.

The filing is a routine 13G triggered by Shikiar Asset Management surpassing the 5 % ownership threshold. Because it covers the Series D preferred, voting rights are limited and the economic exposure is focused on dividend income, not corporate control. Preferred liquidity may improve slightly as institutional ownership widens, but the event bears little strategic implication for FTAI’s capital structure or credit profile. No buy-sell signal for common shares is implied.

Portfolio Manager

TL;DR: New 5 %+ institutional holder boosts confidence in yield security; neutral for equity valuation.

From a portfolio standpoint, Shikiar’s 152.7k-share position suggests a medium-size fund seeking steady cash flows amid rate volatility. The absence of shared voting power or activist language underscores a passive stance. Income-focused investors may view the added institutional demand as a modest endorsement of FTAI’s preferred risk/return profile, yet the limited float and perpetual structure keep price sensitivity low. Overall impact on broader market perception of FTAI is negligible.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

FTAI Aviation Ltd.

(Name of Issuer)

Series D Cumulative Perpetual Preferred Shares

(Title of Class of Securities)

EP0602912

(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. EP0602912

1

Names of Reporting Persons

SHIKIAR ASSET MANAGEMENT INC

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

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 152,700.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 152,700.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

152,700.00

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)

5.9 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: FTAI Aviation Ltd.
(b)	Address of issuer's principal executive offices: 405 WEST 13TH STREET, 3RD FLOOR, NEW YORK, NEW YORK, 10014
Item 2.
(a)	Name of person filing: SHIKIAR ASSET MANAGEMENT, INC.
(b)	Address or principal business office or, if none, residence: 1350 AVENUE OF THE AMERICAS, STE.1608
(c)	Citizenship: United States
(d)	Title of class of securities: Series D Cumulative Perpetual Preferred Shares
(e)	CUSIP No.: EP0602912
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: 152700
(b)	Percent of class: 5.9 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 152700
	(ii) Shared power to vote or to direct the vote: 0.0
	(iii) Sole power to dispose or to direct the disposition of: 152700
	(iv) Shared power to dispose or to direct the disposition of: 0.0
Item 5.	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 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.

SHIKIAR ASSET MANAGEMENT INC

Signature:	STUART SHIKIAR
Name/Title:	CO-CEO
Date:	07/30/2025

FAQ

What stake did Shikiar Asset Management report in FTAI (FTAI) Series D preferred?

The firm disclosed 152,700 shares, equal to 5.9 % of the outstanding Series D preferred.

Does the 13G filing indicate activist intent toward FTAI Aviation?

No. Shikiar certified the shares are held in the ordinary course and not for influencing control.

Which rule governs this Schedule 13G filing?

It was filed under Rule 13d-1(b) for investment advisers.

What voting power does Shikiar Asset Management have over the shares?

The firm has sole voting and dispositive power over all 152,700 shares; no shared power is reported.

Does the filing affect FTAI Aviation common shareholders?

Minimal; the disclosure relates to preferred stock with limited voting rights, leaving common equity dynamics unchanged.