Global Crossing: Red Oak funds report 2.35M shares
Amended Form 3 reports sizable Global Crossing Airlines common stock holdings by Red Oak funds, with beneficial ownership disclaimed beyond pecuniary interests.
Rhea-AI Filing Summary
Global Crossing Airlines Group Inc. (JETBF) reported an amended initial statement of beneficial ownership indicating that investment entities affiliated with Red Oak Partners hold significant positions in its common stock. The Red Oak Fund, LP is reported as indirectly holding 2,350,528 shares of common stock, and The Red Oak Long Fund, LP is reported as indirectly holding 1,432,428 shares, with ownership described as through those funds. David Sandberg is identified as the controlling member of Red Oak Partners and portfolio manager of the funds. Each reporting person disclaims beneficial ownership of the securities beyond its or his pecuniary interest.
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Insights
Analyzing...
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Red Oak Partners, LLC, Red Oak Fund, LP, Red Oak Long Fund, LP, Sandberg David
Role
10% Owner | 10% Owner | 10% Owner | 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Common Stock F1, F3 | -- | -- | -- |
| holding | Common Stock F2, F3 | -- | -- | -- |
Holdings After Transaction:
Common Stock — 2,350,528 shares (Indirect, By The Red Oak Fund, LP directly);
Common Stock — 1,432,428 shares (Indirect, By The Red Oak Long Fund, LP directly)
Footnotes (3)
- F1. Red Oak Partners, LLC ("ROP") serves as the general partner of The Red Oak Fund, LP, a Delaware limited partnership (the "Fund"), the direct owner of the subject securities. David Sandberg is the managing member of ROP and the Fund's portfolio manager.
- F2. ROP serves as the general partner of The Red Oak Long Fund, LP, a Delaware limited partnership (the "Long Fund"), the direct owner of the subject securities. David Sandberg is the managing member of ROP and the Long Fund's portfolio manager.
- F3. Each Reporting Person disclaims beneficial ownership of all securities reported herein, except to the extent of their pecuniary interest therein, if any, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the shares for purposes of Section 16 of the Securities and Exchange Act of 1934 or for any other purpose.
Key Figures
Shares held by The Red Oak Fund, LP: 2,350,528 shares
Shares held by The Red Oak Long Fund, LP: 1,432,428 shares
Number of reporting persons: 4
3 metrics
Shares held by The Red Oak Fund, LP
2,350,528 shares
Indirect ownership of Global Crossing Airlines common stock as of April 11, 2024
Shares held by The Red Oak Long Fund, LP
1,432,428 shares
Indirect ownership of Global Crossing Airlines common stock as of April 11, 2024
Number of reporting persons
4
Red Oak Partners, LLC; Red Oak Fund, LP; Red Oak Long Fund, LP; and David Sandberg
Key Terms
beneficial ownership, pecuniary interest, ten percent owner, Section 16
4 terms
beneficial ownership regulatory
"Each Reporting Person disclaims beneficial ownership of all securities reported herein"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"except to the extent of their pecuniary interest therein, if any"
ten percent owner regulatory
"each identified as a ten percent owner with respect to Global Crossing"
Section 16 regulatory
"for purposes of Section 16 of the Securities and Exchange Act of 1934"
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What does the amended Form 3/A disclose about JETBF ownership by Red Oak entities?
The filing shows that The Red Oak Fund, LP is reported as indirectly holding 2,350,528 Global Crossing Airlines common shares and The Red Oak Long Fund, LP as indirectly holding 1,432,428 shares, with positions managed by Red Oak Partners and associated with David Sandberg.
Who are the reporting persons in the Global Crossing Airlines (JETBF) Form 3/A?
The reporting persons are Red Oak Partners, LLC, Red Oak Fund, LP, Red Oak Long Fund, LP, and David Sandberg, each identified as a ten percent owner with respect to Global Crossing Airlines Group Inc.
What beneficial ownership disclaimer is included in the JETBF Form 3/A?
Each reporting person states that they disclaim beneficial ownership of all securities reported, except to the extent of their pecuniary interest, and that the filing should not be deemed an admission of beneficial ownership for Section 16 or other purposes.
What role does David Sandberg play in relation to JETBF’s reporting funds?
David Sandberg is identified as the controlling member of Red Oak Partners, LLC and as the portfolio manager for both The Red Oak Fund, LP and The Red Oak Long Fund, LP, which directly own the reported Global Crossing Airlines common shares.
AI-generated analysis. How Rhea-AI works. Not financial advice.
