NMM Schedule 13G/A shows Pilgrim Global, Maupin passive holdings

Rhea-AI Filing Summary

Navios Maritime Partners L.P. (NMM) received an amended Schedule 13G/A (Amendment No. 6) reporting significant passive ownership positions in its common units. Pilgrim Global ICAV reports beneficial ownership of 4,660,838 common units, representing 16.1% of the class. Pilgrim Global Advisors LLC reports 4,857,993 common units, or 16.7%. Darren Maupin, a Swiss citizen, reports beneficial ownership of 5,023,150 common units, equal to 17.4% of the class, including 165,157 common units he owns individually with sole voting and dispositive power. The remaining securities are directly owned by advisory clients and employees of Pilgrim Global Advisors LLC or its affiliates. The reporting persons state that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Navios Maritime Partners.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 6)

Navios Maritime Partners L.P.

(Name of Issuer)

Common Units, representing limited partner interests

(Title of Class of Securities)

Y62267409

(CUSIP Number)

09/30/2025

(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. Y62267409

1

Names of Reporting Persons

Pilgrim Global ICAV

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

IRELAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,660,838.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,660,838.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,660,838.00

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)

16.1 %

12

Type of Reporting Person (See Instructions)

FI

SCHEDULE 13G

CUSIP No. Y62267409

1

Names of Reporting Persons

Pilgrim Global Advisors 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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,857,993.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,857,993.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,857,993.00

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)

16.7 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. Y62267409

1

Names of Reporting Persons

Darren Maupin

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

SWITZERLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 165,157.00
6	Shared Voting Power 4,857,993.00
7	Sole Dispositive Power 165,157.00
8	Shared Dispositive Power 4,857,993.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,023,150.00

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)

17.4 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Navios Maritime Partners L.P.
(b)	Address of issuer's principal executive offices: 7 Avenue de Grande Bretagne, Office 11B2, Monte Carlo, MC 98000 Monaco
Item 2.
(a)	Name of person filing: Pilgrim Global ICAV Pilgrim Global Advisors LLC Darren Maupin
(b)	Address or principal business office or, if none, residence: Pilgrim Global ICAV 33 Sir John Rogerson's Quay Dublin 2 Ireland Pilgrim Global Advisors LLC 4785 Caughlin Parkway Reno, Nevada 89519 Darren Maupin c/o Pilgrim Global Advisors LLC 4785 Caughlin Parkway Reno, Nevada 89519
(c)	Citizenship: Pilgrim Global ICAV - Ireland Pilgrim Global Advisors LLC - Delaware Darren Maupin - Switzerland
(d)	Title of class of securities: Common Units, representing limited partner interests
(e)	CUSIP No.: Y62267409
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).
	Investment company.
Item 4.	Ownership
(a)	Amount beneficially owned: Pilgrim Global ICAV - 4,660,838 Pilgrim Global Advisors LLC - 4,857,993 Darren Maupin - 5,023,150
(b)	Percent of class: Pilgrim Global ICAV - 16.1% Pilgrim Global Advisors LLC - 16.7% Darren Maupin - 17.4%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Pilgrim Global ICAV - 0 Pilgrim Global Advisors LLC - 0 Darren Maupin - 165,157
	(ii) Shared power to vote or to direct the vote: Pilgrim Global ICAV - 4,660,838 Pilgrim Global Advisors LLC - 4,857,993 Darren Maupin - 4,857,993
	(iii) Sole power to dispose or to direct the disposition of: Pilgrim Global ICAV - 0 Pilgrim Global Advisors LLC - 0 Darren Maupin - 165,157
	(iv) Shared power to dispose or to direct the disposition of: Pilgrim Global ICAV - 4,660,838 Pilgrim Global Advisors LLC - 4,857,993 Darren Maupin - 4,857,993
Item 5.	Ownership of 5 Percent or Less of a Class.
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. With the exception of the 165,157 shares of Common Units, representing limited partner interests, which are owned by Darren Maupin in his individual capacity, all of the securities reported in this Schedule 13G Amendment No. 6 are directly owned by advisory clients and employees of Pilgrim Global Advisors LLC or its affiliates. No such person, other than Pilgrim Global ICAV, may be deemed to beneficially own more than 5% of the Common Units, representing limited partner interests.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. Please see Exhibit B attached hereto.
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 all Reporting Persons: 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. By Pilgrim Global ICAV: By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to Pilgrim Global ICAV is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

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.

Pilgrim Global ICAV

Signature:	/s/ Paul Fitzgerald
Name/Title:	Paul Fitzgerald / Executive Director
Date:	11/14/2025

Pilgrim Global Advisors LLC

Signature:	/s/ Procter J. Hug IV
Name/Title:	Procter J. Hug IV / Manager
Date:	11/14/2025

Darren Maupin

Signature:	/s/ Darren Maupin
Name/Title:	Darren Maupin
Date:	11/14/2025

Comments accompanying signature: * Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his, her or its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. To the extent that "ownership of 5 percent or less of a class" was indicated in Item 5, such response only applies to the Reporting Person(s) that indicated elsewhere herein that it beneficially owns five percent (5%) or less of the class.

Exhibit Information

[Exhibit A - Joint Filing Agreement] [Exhibit B - Control Person Identification]

FAQ

What stake in Navios Maritime Partners (NMM) does Darren Maupin report in this Schedule 13G/A?

Darren Maupin reports beneficial ownership of 5,023,150 common units of Navios Maritime Partners L.P., representing 17.4% of the outstanding class. This includes 165,157 common units he owns in his individual capacity with sole voting and dispositive power.

How many Navios Maritime Partners (NMM) units does Pilgrim Global ICAV beneficially own?

Pilgrim Global ICAV reports beneficial ownership of 4,660,838 common units of Navios Maritime Partners L.P., representing 16.1% of the class. It has shared voting and shared dispositive power over all of these units and no sole voting or dispositive power.

What is Pilgrim Global Advisors LLC’s ownership percentage in Navios Maritime Partners (NMM)?

Pilgrim Global Advisors LLC reports beneficial ownership of 4,857,993 common units of Navios Maritime Partners L.P., which equals 16.7% of the class. It has shared voting and shared dispositive power over these units and no sole voting or dispositive power.

Are the holdings reported in this Navios Maritime Partners (NMM) Schedule 13G/A filed as passive investments?

The reporting persons certify that, to the best of their knowledge and belief, the securities were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose or effect of changing or influencing control of Navios Maritime Partners L.P., other than activities solely in connection with a nomination under Rule 240.14a-11.

Who legally owns the Navios Maritime Partners (NMM) units reported in this Amendment No. 6?

With the exception of 165,157 common units owned by Darren Maupin in his individual capacity, the filing states that all other reported securities are directly owned by advisory clients and employees of Pilgrim Global Advisors LLC or its affiliates. Pilgrim Global ICAV is identified among these, and no other person besides Pilgrim Global ICAV is deemed to beneficially own more than 5% of the class.

What type of reporting persons are identified in the Navios Maritime Partners (NMM) Schedule 13G/A?

Pilgrim Global ICAV is classified as an FI (investment company). Pilgrim Global Advisors LLC is classified as an IA (investment adviser). Darren Maupin is classified as HC, IN, indicating a control person and individual. Their respective citizenships or places of organization are Ireland, Delaware, and Switzerland.

Does this Navios Maritime Partners (NMM) filing include any special certifications or regulatory statements?

All reporting persons certify that the information is true, complete, and correct. Pilgrim Global ICAV additionally certifies that its foreign regulatory scheme is substantially comparable to that of functionally equivalent U.S. institutions and undertakes to furnish to Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.