G1 Execution Services, SIG Brokerage, and Susquehanna Securities report beneficial ownership of 3,283,720 shares of Sable Offshore Corp. common stock, equal to 2.3% of the class as of the event date.
The holdings include options positions: SIG Brokerage holds options to buy 10,000 shares, and Susquehanna Securities holds options to buy 2,831,700 shares. A company prospectus indicates 144,961,796 shares were outstanding as of November 19, 2025.
The affiliated broker-dealers state they may be deemed a group, share voting and dispositive power over all reported shares, and each disclaims beneficial ownership of shares held directly by the others. They certify the securities were acquired and are held in the ordinary course of business and not to influence control of Sable Offshore.
Positive
None.
Negative
None.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
Sable Offshore Corp.
(Name of Issuer)
Common Stock, $0.0001 par value per share
(Title of Class of Securities)
78574H104
(CUSIP Number)
12/31/2025
(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.
78574H104
1
Names of Reporting Persons
G1 Execution Services, 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
ILLINOIS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
11,573.00
6
Shared Voting Power
3,283,720.00
7
Sole Dispositive Power
11,573.00
8
Shared Dispositive Power
3,283,720.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,283,720.00
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)
2.3 %
12
Type of Reporting Person (See Instructions)
BD, OO
Comment for Type of Reporting Person: With respect to Row 5 through Row 9 above, G1 Execution Services, LLC, SIG Brokerage, LP and Susquehanna Securities, LLC are affiliated independent broker-dealers which may be deemed a group. For purposes of this report, we have indicated that each reporting person has sole voting and dispositive power with respect to the shares beneficially owned by it and that the reporting persons have shared voting and dispositive power with respect to all shares beneficially owned by all of the reporting persons. Each of the reporting persons disclaims beneficial ownership of shares owned directly by another reporting person.
SCHEDULE 13G
CUSIP No.
78574H104
1
Names of Reporting Persons
SIG Brokerage, 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
10,000.00
6
Shared Voting Power
3,283,720.00
7
Sole Dispositive Power
10,000.00
8
Shared Dispositive Power
3,283,720.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,283,720.00
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)
2.3 %
12
Type of Reporting Person (See Instructions)
BD, PN
Comment for Type of Reporting Person: With respect to Row 5 through Row 9 above, G1 Execution Services, LLC, SIG Brokerage, LP and Susquehanna Securities, LLC are affiliated independent broker-dealers which may be deemed a group. For purposes of this report, we have indicated that each reporting person has sole voting and dispositive power with respect to the shares beneficially owned by it and that the reporting persons have shared voting and dispositive power with respect to all shares beneficially owned by all of the reporting persons. Each of the reporting persons disclaims beneficial ownership of shares owned directly by another reporting person.
SCHEDULE 13G
CUSIP No.
78574H104
1
Names of Reporting Persons
Susquehanna Securities, 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
3,262,147.00
6
Shared Voting Power
3,283,720.00
7
Sole Dispositive Power
3,262,147.00
8
Shared Dispositive Power
3,283,720.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,283,720.00
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)
2.3 %
12
Type of Reporting Person (See Instructions)
BD, OO
Comment for Type of Reporting Person: With respect to Row 5 through Row 9 above, G1 Execution Services, LLC, SIG Brokerage, LP and Susquehanna Securities, LLC are affiliated independent broker-dealers which may be deemed a group. For purposes of this report, we have indicated that each reporting person has sole voting and dispositive power with respect to the shares beneficially owned by it and that the reporting persons have shared voting and dispositive power with respect to all shares beneficially owned by all of the reporting persons. Each of the reporting persons disclaims beneficial ownership of shares owned directly by another reporting person.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Sable Offshore Corp.
(b)
Address of issuer's principal executive offices:
845 Texas Avenue, Suite 2920, Houston, TX 77002
Item 2.
(a)
Name of person filing:
This statement is filed by the entities listed below, who are collectively referred to herein as "Reporting Persons" with respect to the shares of Common Stock, $0.0001 par value per share (the "Shares"), of Sable Offshore Corp. (the "Company").
(i) G1 Execution Services, LLC
(ii) SIG Brokerage, LP
(iii) Susquehanna Securities, LLC
(b)
Address or principal business office or, if none, residence:
The address of the principal business office of G1 Execution Services, LLC is:
175 W. Jackson Blvd.
Suite 1700
Chicago, IL 60604
The address of the principal business office of each of SIG Brokerage, LP and Susquehanna Securities, LLC is:
401 E. City Avenue
Suite 220
Bala Cynwyd, PA 19004
(c)
Citizenship:
Citizenship is set forth in Row 4 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
(d)
Title of class of securities:
Common Stock, $0.0001 par value per share
(e)
CUSIP No.:
78574H104
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 required by this Item 4(a) is set forth in Row 9 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
The number of Shares reported as beneficially owned by SIG Brokerage, LP consists of options to buy 10,000 Shares. The number of Shares reported as beneficially owned by Susquehanna Securities, LLC includes options to buy 2,831,700 Shares.
The Company's Prospectus (Registration No. 333-291909), filed on December 16, 2025, indicates there were 144,961,796 Shares outstanding as of November 19, 2025.
(b)
Percent of class:
2.3 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
The information required by this Item 4(c)(i) is set forth in Row 5 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
(ii) Shared power to vote or to direct the vote:
The information required by this Item 4(c)(ii) is set forth in Row 6 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
(iii) Sole power to dispose or to direct the disposition of:
The information required by this Item 4(c)(iii) is set forth in Row 7 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
(iv) Shared power to dispose or to direct the disposition of:
The information required by this Item 4(c)(iv) is set forth in Row 8 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
Item 5.
Ownership of 5 Percent or Less of a Class.
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.
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 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.
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.
What ownership stake in Sable Offshore Corp (SOC) is reported in this Schedule 13G/A?
The filing reports beneficial ownership of 3,283,720 shares of Sable Offshore Corp common stock, representing 2.3% of the class. This percentage is based on 144,961,796 shares outstanding as of November 19, 2025, as cited from a company prospectus.
Who are the reporting persons in the Sable Offshore Corp (SOC) Schedule 13G/A?
The reporting persons are G1 Execution Services, LLC, SIG Brokerage, LP, and Susquehanna Securities, LLC. They are described as affiliated independent broker-dealers that may be deemed a group and collectively report beneficial ownership of Sable Offshore Corp common stock.
How are voting and dispositive powers over SOC shares allocated among the reporting firms?
Each reporting firm lists sole voting and dispositive power over its directly beneficially owned shares and shared voting and dispositive power over 3,283,720 shares in total. They state these affiliated broker-dealers may be deemed a group for purposes of this ownership report.
What options positions related to Sable Offshore Corp (SOC) are disclosed in the filing?
The filing states SIG Brokerage, LP’s reported stake consists of options to buy 10,000 shares, while Susquehanna Securities, LLC’s reported holdings include options to buy 2,831,700 shares. These options are included in each firm’s beneficial ownership calculation for Sable Offshore Corp.
Do the reporting broker-dealers seek to influence control of Sable Offshore Corp (SOC)?
No. They certify the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Sable Offshore. They also state the holdings are not part of any control-related transaction.
What key dates are referenced in the Sable Offshore Corp (SOC) Schedule 13G/A?
The date of event requiring the filing is December 31, 2025. The filing also cites a company prospectus indicating 144,961,796 shares of Sable Offshore common stock were outstanding as of November 19, 2025, used to calculate the 2.3% ownership figure.
