Ameriprise (NYSE: AMP) reports 5.0% beneficial stake in Sun Country (SNCY)
Rhea-AI Filing Summary
Ameriprise Financial, Inc. and its subsidiary Columbia Management Investment Advisers, LLC report beneficial ownership of 2,621,812 shares of Sun Country Airlines Holdings, Inc. common stock, representing 5.0% of the class.
The firms report shared voting power over 2,595,541 shares and shared dispositive power over 2,621,812 shares, with no sole voting or dispositive power. They state the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Sun Country Airlines.
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FAQ
What percentage of Sun Country (SNCY) does Ameriprise report owning in this Schedule 13G/A?
Ameriprise Financial and Columbia Management report beneficial ownership of 5.0% of Sun Country’s common stock. This corresponds to 2,621,812 shares, giving them a significant but minority stake disclosed under Schedule 13G/A rules for passive institutional investors.
Is Ameriprise seeking to influence control of Sun Country (SNCY) with this 5.0% stake?
No, the filing states the shares were acquired and are held in the ordinary course of business. It further certifies they were not acquired and are not held to change or influence control of Sun Country, consistent with a passive Schedule 13G filing.
Who are the reporting persons in this Sun Country (SNCY) Schedule 13G/A filing?
The reporting persons are Ameriprise Financial, Inc. and Columbia Management Investment Advisers, LLC. Ameriprise, a Delaware entity, is the parent of Columbia, a Minnesota investment adviser, and may be deemed to beneficially own the shares reported by Columbia.
Why is this Sun Country (SNCY) ownership reported on a Schedule 13G/A rather than 13D?
The certification states the securities are held in the ordinary course of business, not to influence control. Such passive institutional holdings generally qualify for reporting on Schedule 13G instead of the more activist-oriented Schedule 13D.