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FORM SC 13G/A
AI

Ownership Report - February 7, 2024

Filed February 7, 2024
·
0001104659-24-011719

Future Fund exits Rocket Lab stake, reports 0% ownership as of Dec 31, 2023.

Brief

This SC 13G/A (Amendment No. 2) discloses that Future Fund Board of Guardians and Future Fund Investment Company No.5 Pty Ltd no longer beneficially own any shares of Rocket Lab USA, Inc. common stock, down from over 5% previously. Filed due to dropping below the 5% threshold as of December 31, 2023. Relevant for investors as it signals complete divestment by a major institutional holder.

Detailed Brief

The filing is an amendment to Schedule 13G under Rule 13d-1(d) for passive investors, reporting that Australian entities Future Fund Board of Guardians (parent) and its subsidiary Future Fund Investment Company No.5 Pty Ltd hold zero shares of RKLB common stock (CUSIP 773122106) as of December 31, 2023. They certify no voting or dispositive power and check Item 5 confirming cessation of >5% beneficial ownership. Previously, these reporters filed 13G as >5% holders; this Amendment No. 2 discloses full exit. Future Fund, managing Australia's future fund assets, held indirectly via custodian Northern Trust. No intent to influence control stated. For Rocket Lab, a space launch company, this reduces a key institutional backer but has no direct operational tie.

Key Telemetry

  • Future Fund entities report 0 shares beneficially owned, 0% of class as of 12/31/2023.
  • Filing confirms cessation of >5% ownership, triggering Item 5 disclosure.
  • No sole/shared voting or dispositive power reported.
  • Passive investor status under Rule 13d-1(d); joint filing agreement.
  • Dated February 7, 2024.

Risk Signals

Insider Selling
Large position change in SC 13G/A: from >5% to 0% beneficial ownership.

Impact Vector

Rocket Lab investors see a major institutional shareholder (Australian Future Fund) fully exit its position, potentially signaling portfolio rebalancing or reduced conviction in RKLB amid space sector volatility. Near-term stock impact likely minimal as passive holder with no control intent, but monitors institutional ownership trends. Strategically, track other funds' moves and RKLB's launch execution for validation of valuation; no immediate dilution or control risks.

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