[SCHEDULE 13G/A] FreightCar America, Inc. SEC Filing

Rhea-AI Filing Summary

FreightCar America reports that Continental General Insurance Company and affiliated entities beneficially own 1,247,976 shares of the issuer's common stock, representing approximately 6.5% of 19,118,966 outstanding shares. The ownership is reported on a Schedule 13G/A by CGIC, Continental Insurance Group, Ltd., Continental General Holdings LLC and Michael Gorzynski. The filing discloses shared voting and shared dispositive power for the 1,247,976 shares and 0 shares of sole voting or dispositive power.

The statement explains the chain of potential beneficial ownership: CGIC holds the shares, CIG as sole owner of CGIC and CGH as sole owner of CIG may be deemed to beneficially own the same shares, and Mr. Gorzynski as manager of CGH may also be deemed to beneficially own them. The filing includes a certification that the securities were not acquired to change or influence control of the issuer.

Positive

• 1,247,976 shares disclosed, representing approximately 6.5% of 19,118,966 outstanding shares.
• Schedule 13G/A filing provides transparency about a >5% stake by Continental-related entities.
• Reporting Persons state the shares were not acquired to change or influence control of the issuer.
• Voting and dispositive power reported as shared, with 0 shares of sole voting or dispositive power.

Negative

• None.

Insights

Securities Analyst

TL;DR: A disclosed 6.5% stake is material but reported as passive with shared voting power, indicating routine ownership disclosure.

The Reporting Persons disclose beneficial ownership of 1,247,976 shares, equal to approximately 6.5% of the company based on 19,118,966 shares outstanding. The cover information shows 0 sole voting/dispositive power and 1,247,976 as shared voting and dispositive power, which is consistent with a non-control, passive holding reported on a Schedule 13G/A. For investors and market observers, the holding crosses the 5% disclosure threshold and is therefore material; the filing's certification that the stake is not for control is an explicit legal stance that limits control-related implications.

Corporate Governance Expert

TL;DR: Ownership structure shows layered entities and a named individual may be deemed a beneficial owner, but the filing asserts no intent to influence control.

The filing describes an ownership chain whereby Continental General Insurance Co directly holds the shares and Continental Insurance Group, Ltd. and Continental General Holdings LLC, as upstream owners, may be deemed to beneficially own them, with Michael Gorzynski identified as Manager and reported as potentially beneficial. The schedule reports shared rather than sole voting/dispositive authority, and includes a certification that the securities were not acquired to change or influence issuer control. From a governance perspective, disclosure of the chain and the shared powers is important for transparency; however, the document provides no indication of plans to alter board composition or governance.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)

FreightCar America, Inc.

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

357023100

(CUSIP Number)

06/30/2025

(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. 357023100

1

Names of Reporting Persons

CONTINENTAL GENERAL INSURANCE CO

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

TEXAS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,247,976.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,247,976.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,247,976.00

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)

6.5 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP No. 357023100

1

Names of Reporting Persons

Continental Insurance Group, Ltd.

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 1,247,976.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,247,976.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,247,976.00

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)

6.5 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP No. 357023100

1

Names of Reporting Persons

Continental General 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

MICHIGAN

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,247,976.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,247,976.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,247,976.00

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)

6.5 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 357023100

1

Names of Reporting Persons

Gorzynski Michael

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 1,247,976.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,247,976.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,247,976.00

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)

6.5 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: FreightCar America, Inc.
(b)	Address of issuer's principal executive offices: 125 South Wacker Drive, Suite 1500, Chicago, Illinois 60606
Item 2.
(a)	Name of person filing: The names of the persons filing this statement on Schedule 13G (collectively, the "Reporting Persons") are: Continental General Insurance Company ("CGIC"), Continental Insurance Group, Ltd. ("CIG"), Continental General Holdings LLC ("CGH"), and Michael Gorzynski ("Mr. Gorzynski").
(b)	Address or principal business office or, if none, residence: The address of the principal office for Mr. Gorzynski is 595 Madison Avenue, 30th Floor, New York, NY 10022. The principal business address for each of CGIC, CIG and CGH is 11001 Lakeline Blvd., Ste. 120, Austin, TX 78717.
(c)	Citizenship: CGH is a Michigan limited liability company. CIG is a Delaware corporation. CGIC is a Texas domiciled life and health insurance company. Mr. Gorzynski is a citizen of the United States and Poland.
(d)	Title of class of securities: Common Stock, par value $0.01 per share
(e)	CUSIP No.: 357023100
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: As of the close of business on June 30, 2025: (i) CGIC beneficially owned 1,247,976 shares of the Issuer's Common Stock, par value $0.01 per share (the "Common Stock"). (ii) As the sole owner of CGIC, CIG may be deemed to beneficially own the 1,247,976 shares of Common Stock held by CGIC. (iii) As the sole owner of CIG, CGH may be deemed to beneficially own the 1,247,976 shares of Common Stock held by CGIC. (iv) As Manager of CGH, Mr. Gorzynski may be deemed to beneficially own the 1,247,976 shares of Common Stock beneficially owned by CGIC.
(b)	Percent of class: The aggregate percentage of Common Stock reported owned by each person named herein is based upon 19,118,966 shares of Common Stock outstanding as of June 9, 2025, as disclosed in the Issuer's Amended Registration Statement on Form S-3/A filed with the Securities and Exchange Commission on June 13, 2025. As of the close of business on June 30, 2025: (i) CGIC may be deemed to own approximately 6.5% of the outstanding shares of Common Stock; (ii) CIG may be deemed to beneficially own approximately 6.5% of the outstanding shares of Common Stock; (iii) CGH may be deemed to beneficially own approximately 6.5% of the outstanding shares of Common Stock; and (iv) Mr. Gorzynski may be deemed to beneficially own approximately 6.5% of the outstanding shares of Common Stock.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Cover Pages Items 5-9.
	(ii) Shared power to vote or to direct the vote: See Cover Pages Items 5-9.
	(iii) Sole power to dispose or to direct the disposition of: See Cover Pages Items 5-9.
	(iv) Shared power to dispose or to direct the disposition of: See Cover Pages Items 5-9.
Item 5.	Ownership of 5 Percent or Less of a Class.
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.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group. See Exhibit 99.1 to the Schedule 13G filed with the Securities and Exchange Commission on May 14, 2025.
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.

CONTINENTAL GENERAL INSURANCE CO

Signature:	/s/ Michael Gorzynski
Name/Title:	Michael Gorzynski, Executive Chairman
Date:	08/13/2025

Continental Insurance Group, Ltd.

Signature:	/s/ Michael Gorzynski
Name/Title:	Michael Gorzynski, Chairman & President
Date:	08/13/2025

Continental General Holdings LLC

Signature:	/s/ Michael Gorzynski
Name/Title:	Michael Gorzynski, Manager
Date:	08/13/2025

Gorzynski Michael

Signature:	/s/ Michael Gorzynski
Name/Title:	Michael Gorzynski
Date:	08/13/2025

FAQ

How many FreightCar America (RAIL) shares do Continental entities report owning?

The filing reports they beneficially own 1,247,976 shares of common stock.

What percentage of FreightCar America (RAIL) does the 1,247,976 share stake represent?

The reported stake represents approximately 6.5% of 19,118,966 outstanding shares.

Which entities filed the Schedule 13G/A for FreightCar America (RAIL)?

The filers are Continental General Insurance Company, Continental Insurance Group, Ltd., Continental General Holdings LLC and Michael Gorzynski.

Does the Schedule 13G/A say the shares were acquired to influence control at RAIL?

No. The filing includes a certification that the securities were not acquired to change or influence control of the issuer.

How is voting power reported for the shares in the filing?

The filing reports 0 sole voting power and 1,247,976 as shared voting power.

Who signed the Schedule 13G/A for the Continental reporting group at RAIL?

The signatures are by Michael Gorzynski in his capacities for the reporting entities.