Zimmer Partners Reports 10% Stake in James River Group Holdings and Signals Activist Intent

On May 15, 2026, Zimmer Partners, LP, along with Zimmer Financial Services Group LLC, Zimmer Partners GP, LLC, and Stuart J. Zimmer, filed a Schedule 13D disclosing a 10% ownership stake in James River Group Holdings, Inc. (JRVR). The reporting persons acquired 4,623,685 shares of common stock for an aggregate purchase price of approximately $22.4 million using working capital from various Zimmer Accounts. The filers originally acquired the shares based on the belief that the stock was undervalued. However, the reporting persons have now shifted to an active stance, indicating they have begun or may in the future discuss strategic changes with the issuer's management and board. Potential topics for discussion include the elimination of common dividends, suspension of preferred dividends, debt reduction using excess cash, potential private placements of equity, and other operational improvements or strategic transactions. The filers intend to review their investment continuously and may increase or decrease their position based on market conditions and the issuer's response to these proposals.