NextNav Inc. ownership disclosure: a group of reporting persons led by PointState/SteelMill and Zachary J. Schreiber reports shared beneficial ownership of 7,733,983 shares of Common Stock, representing 5.7% of the class as shown on the cover pages. The statement is filed jointly on behalf of SteelMill Master Fund, PointState Holdings LLC, PointState Capital LP, PointState Capital GP LLC and Mr. Schreiber.
The filing lists shared voting power and shared dispositive power of 7,733,983 shares for the reporting group and includes a joint filing agreement as Exhibit 99.1.
Positive
None.
Negative
None.
Insights
Joint passive stake disclosed: shared control of 7,733,983 shares (5.7%).
The filing shows a group filing under Schedule 13G reflecting shared voting and dispositive power over 7,733,983 shares of NextNav Common Stock, labeled as 5.7% of the class.
This is a passive ownership disclosure; the filing states the Reporting Persons are not acting as a group for Section 13(d) purposes and includes a joint filing agreement. Subsequent filings may show changes in position.
Disclosure clarifies ownership structure and points to collective influence without sole control.
The report attributes shared voting and shared dispositive powers to the same 7,733,983 shares across SteelMill, PointState entities and Mr. Schreiber. The address and CUSIP 65345N106 are provided on the form.
Because the position is under 10%, it is a routine Schedule 13G disclosure rather than an activist Schedule 13D; monitoring subsequent filings will show any material changes.
Key Figures
Shared voting/dispositive power:7,733,983 sharesPercent of class:5.7%CUSIP:65345N106
3 metrics
Shared voting/dispositive power7,733,983 sharesreported on Schedule 13G cover pages
Percent of class5.7%percent of class as shown on the cover pages
CUSIP65345N106NextNav Common Stock CUSIP
Key Terms
Schedule 13G, beneficially owned, shared dispositive power
3 terms
Schedule 13Gregulatory
"This statement is filed by: (i) SteelMill Master Fund LP"
A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.
beneficially ownedfinancial
"Amount beneficially owned: The information in Items 5 through 9"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
shared dispositive powerfinancial
"Shared Dispositive Power 7,733,983.00"
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
NEXTNAV INC.
(Name of Issuer)
Common Stock, par value $0.0001 per share
(Title of Class of Securities)
65345N106
(CUSIP Number)
05/15/2026
(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)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
65345N106
1
Names of Reporting Persons
PointState Capital LP
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
7,733,983.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
7,733,983.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
7,733,983.00
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)
5.7 %
12
Type of Reporting Person (See Instructions)
IA, PN
SCHEDULE 13G
CUSIP Number(s):
65345N106
1
Names of Reporting Persons
SteelMill Master Fund LP
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
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
7,733,983.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
7,733,983.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
7,733,983.00
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)
5.7 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP Number(s):
65345N106
1
Names of Reporting Persons
PointState Holdings 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
7,733,983.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
7,733,983.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
7,733,983.00
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)
5.7 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP Number(s):
65345N106
1
Names of Reporting Persons
PointState Capital GP 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
7,733,983.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
7,733,983.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
7,733,983.00
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)
5.7 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP Number(s):
65345N106
1
Names of Reporting Persons
Zachary J. Schreiber
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
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
7,733,983.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
7,733,983.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
7,733,983.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
This statement is filed by:
(i) SteelMill Master Fund LP, a Cayman Islands exempted limited partnership ("SteelMill");
(ii) PointState Holdings LLC, a Delaware limited liability company ("PointState Holdings"), which serves as the general partner of SteelMill;
(iii) PointState Capital LP, a Delaware limited partnership ("PointState"), which serves as the investment manager to SteelMill;
(iv) PointState Capital GP LLC, a Delaware limited liability Company ("PointState GP"), which serves as the general partner of PointState; and
(v) Zachary J. Schreiber ("Mr. Schreiber"), an individual, who serves as managing member of PointState Holdings and PointState GP.
SteelMill, PointState Holdings, PointState, PointState GP and Mr. Schreiber are hereinafter sometimes collectively referred to as the "Reporting Persons." Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party.
The Reporting Persons are filing this statement jointly with respect to the same securities as contemplated by Rule 13d-1(k)(1), not as members of a group.
(b)
Address or principal business office or, if none, residence:
The address of the business office of each of the Reporting Persons is care of PointState Capital LP, 9 West 57th Street, 37th Floor, New York, NY 10019.
(c)
Citizenship:
SteelMill is organized under the laws of the Cayman Islands. PointState Holdings, PointState and PointState GP are organized under the laws of the State of Delaware. Mr. Schreiber is a citizen of the United States of America.
(d)
Title of class of securities:
Common Stock, par value $0.0001 per share
(e)
CUSIP Number(s):
65345N106
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:
The information in Items 5 through 9 and Item 11 on the cover pages to this Schedule 13G is hereby incorporated by reference.
(b)
Percent of class:
The applicable information on the cover pages to this Schedule 13G is hereby incorporated by reference.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
The applicable information on the cover pages to this Schedule 13G is hereby incorporated by reference.
(ii) Shared power to vote or to direct the vote:
The applicable information on the cover pages to this Schedule 13G is hereby incorporated by reference.
(iii) Sole power to dispose or to direct the disposition of:
The applicable information on the cover pages to this Schedule 13G is hereby incorporated by reference.
(iv) Shared power to dispose or to direct the disposition of:
The applicable information on the cover pages to this Schedule 13G is hereby incorporated by reference.
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.
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.
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.
The information in Items 2 is hereby incorporated by reference.
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 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.
PointState Capital LP
Signature:
/s/ Zachary J. Schreiber
Name/Title:
Zachary J. Schreiber, Managing Member of PointState Holdings LLC and PointState Capital GP LLC, the general partner of PointState Capital LP
Date:
05/21/2026
SteelMill Master Fund LP
Signature:
/s/ Zachary J. Schreiber
Name/Title:
Zachary J. Schreiber, Managing Member of PointState Holdings LLC, the general partner of SteelMill Master Fund LP
What stake did PointState and affiliates report in NextNav (NN)?
They reported shared beneficial ownership of 7,733,983 shares of NextNav common stock, representing 5.7% of the class. The holdings are shown as shared voting and dispositive power on the Schedule 13G cover pages.
Who filed the Schedule 13G for NextNav (NN)?
The statement was jointly filed by SteelMill Master Fund LP, PointState Holdings LLC, PointState Capital LP, PointState Capital GP LLC and Zachary J. Schreiber, per the joint filing agreement (Exhibit 99.1).
Does the filing show sole control over the shares?
No. The filing reports 0 sole voting and dispositive power and 7,733,983 shared voting and dispositive power, indicating collective rather than sole control of the reported shares.
Is this a Schedule 13G or 13D for NextNav (NN), and why does it matter?
This is a Schedule 13G filing. Schedule 13G typically indicates passive ownership under 10%, whereas Schedule 13D is used for active/intentional acquisitions; the reported 5.7% stake places it in the 13G threshold.
