Vivek Ramaswamy Files Schedule 13D After Strive Shareholder Agreement Ends

TL;DR: Vivek Ramaswamy now holds an 8.8% stake in Strive, Inc. after the April 20 at‑the‑market offering dissolved the shareholder agreement, prompting a Schedule 13D filing to report his continued ownership above the 5% threshold.

Strive, Inc. (ticker: STRV) is a Dallas‑based asset‑management firm with a market capitalization of roughly $1.2 billion.

On April 20, 2026 the company sold shares through its at‑the‑market (ATM) offering, a mechanism that lets an issuer place new stock directly into the exchange over time rather than in a single block. Those sales cut the combined holdings of the original shareholder group below 50% of voting power, automatically terminating the September 12, 2025 Shareholders Agreement under its Section 4.03(i).

Vivek Ramaswamy’s 8.8% stake equals about 10.6 million class A shares, based on Strive’s current outstanding count of 120 million.

He originally obtained the securities through the June 27, 2025 merger of Strive Enterprises into the issuer, receiving class B shares that are convertible into class A at his discretion. After the merger, a portion of those class B shares was transferred to Virtuous Industries LLC, an entity he controls for personal investments.

The Schedule 13D filing, required within ten days of crossing the 5% line, confirms he has not altered his investment intent and will continue to evaluate sales, retentions, or further purchases based on market and economic conditions.

The disclosure signals that Ramaswamy remains a significant, though non‑controlling, owner. With the shareholder pact gone, his voting influence is now assessed individually rather than as part of a bloc, potentially affecting future governance votes.

Market reaction was modest: STRV slipped 3.2% on the day of the filing news, compared with a 0.4% decline for the Russell 2000 index over the same period. Analysts note that the ATM program has already diluted existing shareholders by roughly 1.5% of the float, and any further sales could pressure the stock if demand does not keep pace.

What to watch next: whether Strive announces additional ATM tranches, how Ramaswamy’s voting stance evolves on upcoming board matters, and whether the stock stabilizes above its $10.20 support level.