Oaktree Capital Management, L.P. reported beneficial ownership of 2,799,999 Class A ordinary shares of Rice Acquisition Corp 3, representing 8.02% of the class as of the reported date. This stake consists of 2,400,000 existing shares and 399,999 shares issuable upon conversion of warrants.
The percentage was calculated using 34,502,500 Class A ordinary shares outstanding as disclosed in a prior quarterly report, adjusted for the additional 399,999 shares issuable in respect of convertible instruments. Oaktree states the securities are held in the ordinary course of business and not for the purpose of changing or influencing control of the company.
Positive
None.
Negative
None.
Insights
Oaktree discloses an 8.02% passive stake in Rice Acquisition Corp 3.
Oaktree Capital Management, L.P. reports beneficial ownership of 2,799,999 Class A shares of Rice Acquisition Corp 3, equal to 8.02% of the class. The position combines 2,400,000 outstanding shares with 399,999 shares issuable from warrants or similar convertible instruments.
The ownership calculation uses 34,502,500 shares outstanding from a prior Form 10-Q, adjusted for the additional issuable shares. Oaktree certifies the position is held in the ordinary course of business and not with the purpose or effect of changing or influencing control, characterizing this as a passive, institutional investment rather than an activist position.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Rice Acquisition Corp 3
(Name of Issuer)
Class A ordinary shares, $0.0001 par value
(Title of Class of Securities)
G7553X106
(CUSIP Number)
12/31/2025
(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.
G7553X106
1
Names of Reporting Persons
Oaktree Capital Management, L.P.
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
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
2,799,999.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
2,799,999.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,799,999.00
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)
8.02 %
12
Type of Reporting Person (See Instructions)
IA
Comment for Type of Reporting Person: Represents 2,400,000 Class A ordinary shares and 399,999 Class A ordinary shares issuable upon redemption of conversion of warrants.
Calculated based on 34,502,500 Class A ordinary shares outstanding as reported on the Issuer's Quarterly Report on Form 10-Q filed on November 3, 2025, and as increased by 399,999 Class A ordinary shares issuable in respect of convertible bonds.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Rice Acquisition Corp 3
(b)
Address of issuer's principal executive offices:
102 EAST MAIN STREET, SECOND STORY, CARNEGIE, PA, 15106
Item 2.
(a)
Name of person filing:
This statement is filed by Oaktree Capital Management L.P., referred to herein as the "Reporting Person."
(b)
Address or principal business office or, if none, residence:
333 S. Grand Avenue, 28th Floor, Los Angeles, CA 90071
(c)
Citizenship:
See response to Item 4 on the cover page.
(d)
Title of class of securities:
Class A ordinary shares, $0.0001 par value
(e)
CUSIP No.:
G7553X106
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 response to Item 9 on cover page.
The reported securities are managed by the Reporting Person on behalf of various funds and accounts including: Oaktree Value Opportunities Fund, L.P. (OVO), Oaktree London Liquid Value Opportunities Fund (VOF), and Boston Patriot Arlington St LLC, an SMA account. The filing of this Statement shall not be deemed an admission of beneficial ownership by the Reporting Persons for purposes of Section 13(d) or 13(g), or for any other purpose.
(b)
Percent of class:
See response to Item 11 on the cover page.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
See response to Item 5 on the cover page.
(ii) Shared power to vote or to direct the vote:
See response to Item 6 on the cover page.
(iii) Sole power to dispose or to direct the disposition of:
See response to Item 7 on the cover page.
(iv) Shared power to dispose or to direct the disposition of:
See response to item 8 on the cover page.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
The information set forth in Item 4(a) of this Statement is hereby incorporated by reference into this Item 6.
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.
How many Rice Acquisition Corp 3 (KRSP) shares does Oaktree beneficially own?
Oaktree Capital Management, L.P. reports beneficial ownership of 2,799,999 Class A ordinary shares of Rice Acquisition Corp 3. This includes 2,400,000 existing shares plus 399,999 additional shares issuable upon conversion of warrants or similar convertible instruments, as described in the ownership details.
What percentage of Rice Acquisition Corp 3 (KRSP) does Oaktree’s stake represent?
Oaktree’s reported stake represents 8.02% of Rice Acquisition Corp 3’s Class A shares. The percentage is based on 34,502,500 shares outstanding from a prior quarterly report, increased by 399,999 shares issuable from convertible instruments included in Oaktree’s beneficial ownership calculation.
How is Oaktree’s Rice Acquisition Corp 3 (KRSP) position structured?
Oaktree’s position in Rice Acquisition Corp 3 comprises 2,400,000 Class A ordinary shares plus 399,999 Class A shares issuable upon redemption or conversion of warrants. Together these total 2,799,999 shares treated as beneficially owned under the Schedule 13G disclosure framework.
Which entities are associated with Oaktree’s Rice Acquisition Corp 3 (KRSP) holdings?
The reported securities are managed by Oaktree Capital Management, L.P. on behalf of various clients, including Oaktree Value Opportunities Fund, L.P., Oaktree London Liquid Value Opportunities Fund, and Boston Patriot Arlington St LLC, a separately managed account referenced in the ownership disclosure.
Is Oaktree’s 8.02% stake in Rice Acquisition Corp 3 (KRSP) an activist position?
Oaktree certifies the securities were acquired and are held in the ordinary course of business, and not for the purpose or effect of changing or influencing control of Rice Acquisition Corp 3, indicating a passive institutional investment rather than an activist control-seeking position.
What date does Oaktree’s Rice Acquisition Corp 3 (KRSP) ownership relate to?
The Schedule 13G reports Oaktree’s beneficial ownership as of December 31, 2025. The 8.02% figure relies on 34,502,500 Class A ordinary shares outstanding cited from Rice Acquisition Corp 3’s Form 10-Q filed on November 3, 2025, adjusted for additional issuable shares.
