LTH Schedule 13D/A: Leonard Green Reports September 2025 Sales and 11.1% Holding

Rhea-AI Filing Summary

Leonard Green-affiliated investment vehicles amended their Schedule 13D for Life Time Group Holdings, Inc. (Common Stock). The filing reports that Green LTF currently holds 24,451,888 shares, or approximately 11.1% of the outstanding common stock based on 219,996,102 shares outstanding as of July 31, 2025. On September 11, 2025, Green LTF, Associates VI-A and Associates VI-B sold 4,900,945, 8,301 and 82,730 shares, respectively, at $28.95 per share pursuant to Rule 144. The amendment updates record ownership across several related entities and confirms the Reporting Persons may be deemed a voting group under the stockholders agreement.

Insights

Financial Analyst

TL;DR: Leonard Green entities reduced their stake via a Rule 144 sale; remaining ownership ≈11.1%, a modest but visible reduction.

The September 11, 2025 secondary sales of a combined ~4.99 million shares at $28.95 generated liquidity for the reporting entities and reduced Green LTF's recorded stake to 24,451,888 shares (≈11.1%). This amendment clarifies record ownership across multiple related vehicles and ties ownership percentages to the issuer's July 31, 2025 share count of 219,996,102. For investors, the filing is primarily a transactional disclosure rather than an active shift in strategic control; the group remains a double-digit holder but with a smaller position than previously reported.

Corporate Governance Expert

TL;DR: Disclosure aligns reporting persons and confirms group voting relationships; sale executed under Rule 144.

The amendment documents record ownership at multiple affiliated entities and reiterates that members of the Voting Group may be deemed to act as a group under Rule 13d-3. The use of Rule 144 for the September sales indicates compliance with resale restrictions for restricted or control securities. The filing does not disclose new governance actions or changes to board representation; it functions as an ownership and transaction update.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 5)

Life Time Group Holdings, Inc.

(Name of Issuer)

Common Stock, $0.01 par value per share

(Title of Class of Securities)

53190C102

(CUSIP Number)

Jennifer Bellah Maguire
333 South Grand Avenue,
Los Angeles, CA, 90071-3197
213-229-7986

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

09/11/2025

(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).

SCHEDULE 13D

CUSIP No. 53190C102

1

Name of reporting person

Green LTF Holdings II LP

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)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 24,906,061.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 24,906,061.00

11

Aggregate amount beneficially owned by each reporting person

24,906,061.00

12

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

13

Percent of class represented by amount in Row (11)

11.3 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 53190C102

1

Name of reporting person

Green Equity Investors VI, L.P.

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)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 24,906,061.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 24,906,061.00

11

Aggregate amount beneficially owned by each reporting person

24,906,061.00

12

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

13

Percent of class represented by amount in Row (11)

11.3 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 53190C102

1

Name of reporting person

Green Equity Investors Side VI, L.P.

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)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 24,906,061.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 24,906,061.00

11

Aggregate amount beneficially owned by each reporting person

24,906,061.00

12

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

13

Percent of class represented by amount in Row (11)

11.3 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 53190C102

1

Name of reporting person

LGP Associates VI-A LLC

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)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 24,906,061.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 24,906,061.00

11

Aggregate amount beneficially owned by each reporting person

24,906,061.00

12

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

13

Percent of class represented by amount in Row (11)

11.3 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP No. 53190C102

1

Name of reporting person

LGP Associates VI-B LLC

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)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 24,906,061.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 24,906,061.00

11

Aggregate amount beneficially owned by each reporting person

24,906,061.00

12

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

13

Percent of class represented by amount in Row (11)

11.3 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP No. 53190C102

1

Name of reporting person

GEI Capital VI, LLC

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)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 24,906,061.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 24,906,061.00

11

Aggregate amount beneficially owned by each reporting person

24,906,061.00

12

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

13

Percent of class represented by amount in Row (11)

11.3 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP No. 53190C102

1

Name of reporting person

Green VI Holdings, LLC

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)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 24,906,061.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 24,906,061.00

11

Aggregate amount beneficially owned by each reporting person

24,906,061.00

12

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

13

Percent of class represented by amount in Row (11)

11.3 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP No. 53190C102

1

Name of reporting person

Leonard Green & Partners, L.P.

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)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 24,906,061.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 24,906,061.00

11

Aggregate amount beneficially owned by each reporting person

24,906,061.00

12

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

13

Percent of class represented by amount in Row (11)

11.3 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 53190C102

1

Name of reporting person

LGP Management, Inc.

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)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 24,906,061.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 24,906,061.00

11

Aggregate amount beneficially owned by each reporting person

24,906,061.00

12

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

13

Percent of class represented by amount in Row (11)

11.3 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP No. 53190C102

1

Name of reporting person

Peridot Coinvest Manager LLC

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)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 24,906,061.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 24,906,061.00

11

Aggregate amount beneficially owned by each reporting person

24,906,061.00

12

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

13

Percent of class represented by amount in Row (11)

11.3 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, $0.01 par value per share
(b)	Name of Issuer: Life Time Group Holdings, Inc.
(c)	Address of Issuer's Principal Executive Offices: 2902 Corporate Place, Chanhassen, MINNESOTA , 55317.
Item 1 Comment: This Amendment No. 5 (this "Amendment") amends and supplements the Schedule 13D filed on October 22, 2021, as amended by Amendment No. 1, filed on August 16, 2024, Amendment No. 2, filed on November 13, 2024, Amendment No. 3, filed on March 5, 2025, and Amendment No. 4, filed on June 10, 2025 (as so amended, the "Initial Statement" and, as further amended by this Amendment, the "Schedule 13D"), and relates to the common stock, $0.01 par value per share (the "Common Stock"), of Life Time Group Holdings, Inc. (the "Issuer"). Capitalized terms used but not defined in this Amendment shall have the meanings ascribed to them in the Initial Statement and unless amended hereby, all information in the Initial Statement remains in effect.
Item 2.	Identity and Background
(a)	Item 2(a) of the Initial Statement is hereby amended and supplemented by replacing the first sentence of the second paragraph with the following: As of the date of this statement, (i) Green LTF is the record owner of 24,451,888 shares of Common Stock, (ii) Associates VI-A is the record owner of 41,415 shares of Common Stock, and (iii) Associates VI-B is the record owner of 412,758 shares of Common Stock.
Item 4.	Purpose of Transaction
	Item 4 of the Initial Statement is hereby amended and supplemented by adding the following at the end of Item 4 of the Initial Statement: September 2025 Offering On September 11, 2025, Green LTF, Associates VI-A and Associates VI-B sold 4,900,945, 8,301, and 82,730 shares of Common Stock, respectively, at a price of $28.95 per share pursuant to Rule 144 under the Securities Act of 1933, as amended (the "Securities Act").
Item 5.	Interest in Securities of the Issuer
(a)	Item 5 of the Initial Statement is hereby amended and restated as follows: The information set forth in or incorporated by reference in Items 2, 3 and 4 and on the cover pages of this Schedule 13D is incorporated by reference in its entirety into this Item 5. As of the date hereof, Green LTF holds 24,451,888 shares of Common Stock, representing approximately 11.1% of the issued and outstanding shares of Common Stock, Associates VI-A holds 41,415 shares of Common Stock, representing approximately 0.0% of the issued and outstanding shares of Common Stock and Associates VI-B holds 412,758 shares of Common Stock, representing approximately 0.2% of the issued and outstanding shares of Common Stock. Ownership percentages set forth in this Schedule 13D are based upon a total of 219,996,102 shares of Common Stock outstanding as of July 31, 2025, as reported by the Issuer in its Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 8, 2025. In addition, as discussed in Item 2 above, by virtue of the agreements made pursuant to the Stockholders Agreement, the Voting Group members may be deemed to be acting as a group for purposes of Rule 13d-3 under the Exchange Act. Shares beneficially owned by the other members of the Voting Group are not the subject of this Schedule 13D and accordingly, none of the other members of the Voting Group are included as reporting persons herein.
(b)	See Item 5(a) above.
(c)	On September 11, 2025, Green LTF, Associates VI-A and Associates VI-B sold 4,900,945, 8,301 and 82,730 shares of Common Stock, respectively, at a price of $28.95 per share.
(d)	Except as stated within this Item 5, to the knowledge of the Reporting Persons, only the Reporting Persons have the right to receive, or the power to direct the receipt of, dividends from, or proceeds from the sale of, any of the shares of Common Stock beneficially owned by the Reporting Persons as described in this Item 5.
(e)	Not applicable.

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.

Green LTF Holdings II LP

Signature:	/s/ Andrew Goldberg
Name/Title:	By Peridot Coinvest Manager LLC, by Andrew Goldberg, Senior Vice President, General Counsel and Secretary
Date:	09/15/2025

Green Equity Investors VI, L.P.

Signature:	/s/ Andrew Goldberg
Name/Title:	By GEI Capital VI, LLC, its general partner, by Andrew Goldberg, Senior Vice President, General Counsel and Secretary
Date:	09/15/2025

Green Equity Investors Side VI, L.P.

Signature:	/s/ Andrew Goldberg
Name/Title:	By GEI Capital VI, LLC, its general partner, by Andrew Goldberg, Senior Vice President, General Counsel and Secretary
Date:	09/15/2025

LGP Associates VI-A LLC

Signature:	/s/ Andrew Goldberg
Name/Title:	By Peridot Coinvest Manager LLC, by Andrew Goldberg, Senior Vice President, General Counsel and Secretary
Date:	09/15/2025

LGP Associates VI-B LLC

Signature:	/s/ Andrew Goldberg
Name/Title:	By Peridot Coinvest Manager LLC, by Andrew Goldberg, Senior Vice President, General Counsel and Secretary
Date:	09/15/2025

GEI Capital VI, LLC

Signature:	/s/ Andrew Goldberg
Name/Title:	Andrew Goldberg, Senior Vice President, General Counsel and Secretary
Date:	09/15/2025

Green VI Holdings, LLC

Signature:	/s/ Andrew Goldberg
Name/Title:	By LGP Management, Inc., its managing member, by Andrew Goldberg, Senior Vice President, General Counsel and Secretary
Date:	09/15/2025

Leonard Green & Partners, L.P.

Signature:	/s/ Andrew Goldberg
Name/Title:	By LGP Management, Inc., its managing member, by Andrew Goldberg, Senior Vice President, General Counsel and Secretary
Date:	09/15/2025

LGP Management, Inc.

Signature:	/s/ Andrew Goldberg
Name/Title:	Andrew Goldberg, Senior Vice President, General Counsel and Secretary
Date:	09/15/2025

Peridot Coinvest Manager LLC

Signature:	/s/ Andrew Goldberg
Name/Title:	Andrew Goldberg, Senior Vice President, General Counsel and Secretary
Date:	09/15/2025

FAQ

What shares did Leonard Green entities sell in the September 2025 filing (LTH)?

On September 11, 2025, Green LTF sold 4,900,945 shares, Associates VI-A sold 8,301 shares, and Associates VI-B sold 82,730 shares at $28.95 per share.

What is the remaining ownership of Green LTF in Life Time Group Holdings (LTH)?

Green LTF holds 24,451,888 shares, representing approximately 11.1% of common stock outstanding based on 219,996,102 shares as of July 31, 2025.

Under what authority were the shares sold?

The sales were executed pursuant to Rule 144 under the Securities Act of 1933.

Do the reporting persons act together for voting purposes?

The filing states that, by virtue of the Stockholders Agreement, members of the Voting Group may be deemed to be acting as a group for purposes of Rule 13d-3.

What total number of shares outstanding was used to calculate ownership percentages?

The filing uses 219,996,102 shares outstanding as reported by the issuer in a Quarterly Report filed August 8, 2025.