Khrom Capital Reports Sole Voting Power Over 6.62% of HCI Group

Rhea-AI Filing Summary

HCI Group disclosed that Khrom Capital Management LLC beneficially owns 796,170 common shares, equal to 6.62% of the class. The filing identifies Khrom as an investment adviser and reports that it has sole voting and sole dispositive power over these shares. The position exceeds the 5% reporting threshold, making it a material, publicly reported minority stake. The statement also certifies the securities are held in the ordinary course of business and were not acquired to change or influence control of HCI.

Positive

• Material disclosure of ownership: Khrom reports 796,170 shares (6.62%), exceeding the 5% reporting threshold.
• Sole voting and dispositive power: The filer has clear authority to vote and dispose of the reported shares, reducing ambiguity about who controls those votes.
• Filer identified as an investment adviser (IA): Classification clarifies the reporting person's regulatory role and likely investment-management intent.
• Certification of ordinary-course holdings: The filing states the securities are held in the ordinary course of business and not to change control.

Negative

• None.

Insights

Financial Analyst

TL;DR A disclosed 6.62% beneficial stake with sole voting and dispositive power is material but not immediately control-changing.

The filing shows Khrom Capital holds a meaningful minority stake of 796,170 shares (6.62%) and reports sole authority to vote and dispose of those shares. For investors, this clarifies ownership concentration and voting dynamics without indicating an intent to pursue control. The classification as an investment adviser signals a fiduciary/asset-management role rather than an operating acquiror. The disclosure improves transparency around potential activist or influence capacity, but the filing explicitly states the stake is held in the ordinary course of business.

Corporate Governance Expert

TL;DR Material >5% disclosure with sole voting power raises governance attention but contains no statement of control intent.

The report confirms a material minority position with sole voting and dispositive power, which means Khrom can unilaterally vote these shares at shareholder meetings. That concentration can be relevant for proxy outcomes or governance votes, yet the filing includes a certification that the shares were not acquired to change control. Absent additional agreements, board nominations, or coalition disclosures, this remains a notable but neutral governance development requiring monitoring for future activity.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

HCI Group, Inc.

(Name of Issuer)

Common Shares, no par value

(Title of Class of Securities)

40416E103

(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. 40416E103

1

Names of Reporting Persons

Khrom Capital Management LLC

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 764,659.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 764,659.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

764,659.00

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)

6.62 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: HCI Group, Inc.
(b)	Address of issuer's principal executive offices: 3802 Coconut Palm Drive, Tampa, FL 33619
Item 2.
(a)	Name of person filing: Khrom Capital Management LLC
(b)	Address or principal business office or, if none, residence: 1691 Michigan Ave, Suite 240, Miami Beach, FL 33139
(c)	Citizenship: NY
(d)	Title of class of securities: Common Shares, no par value
(e)	CUSIP No.: 40416E103
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: 796,170
(b)	Percent of class: 6.62 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 796,170
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 796,170
	(iv) Shared power to dispose or to direct the disposition of: 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.

Khrom Capital Management LLC

Signature:	Eduard Skutelsky
Name/Title:	Eduard Skutelsky | COO
Date:	08/14/2025

FAQ

How many HCI shares does Khrom Capital beneficially own?

Khrom Capital beneficially owns 796,170 common shares of HCI, representing 6.62% of the class.

Does Khrom Capital have voting power over its HCI holdings?

Yes. The filing reports Khrom has sole voting power and sole dispositive power over the 796,170 shares.

How is Khrom Capital classified in the filing for HCI?

The reporting person is classified as an IA (investment adviser) in the filing.

Is the Khrom stake considered material for HCI investors?

Yes. At 6.62%, the position exceeds the 5% threshold and is a material, publicly reported minority stake.

Does the filing state Khrom intends to change control of HCI?

No. The filing includes a certification that the securities are held in the ordinary course of business and were not acquired to change or influence control.