AerSale Corp. Schedule 13G/A reports that M3 Partners, L.P., together with related entities and persons, beneficially owns 3,983,632 shares of AerSale common stock, representing 8.43% of the class. The shares are held directly by M3 Partners; M3 Funds, LLC and M3F, Inc. are disclosed as indirect owners and managers.
The filing lists the reporting persons' principal business address as 2070 E 2100 S, Suite 250, Salt Lake City, UT 84109 and includes signatures dated 04/23/2026.
Positive
None.
Negative
None.
Insights
M3-affiliated entities report an 8.43% stake (3,983,632 shares) in AerSale.
The filing attributes the shares to M3 Partners, L.P. as the direct holder, while M3 Funds, LLC (general partner) and M3F, Inc. (investment adviser) are disclosed as possible indirect beneficial owners. Managers Jason A. Stock and William C. Waller are named as managers/managing directors.
Ownership is shown as shared voting and dispositive power of 3,983,632 shares. The filing is an updated Schedule 13G/A amendment and does not itself indicate a change in strategy or planned transactions; subsequent filings would show any trading activity.
Disclosure clarifies control and attribution across fund, GP, and adviser roles.
The statement explains the chain of ownership: direct ownership by M3 Partners, with the General Partner and Investment Adviser potentially deemed indirect beneficial owners. This is standard attribution language for pooled-investment structures.
For governance monitoring, note the shared voting power figure in the cover rows and the signature dates of 04/23/2026 as the reporting timestamp; any change in voting arrangements should appear in later amendments.
Key Figures
Shares beneficially owned:3,983,632 sharesPercent of class:8.43%CUSIP:00810F106+2 more
5 metrics
Shares beneficially owned3,983,632 sharesreported beneficial ownership by M3 Partners
Percent of class8.43%percentage of AerSale common stock represented by reported shares
CUSIP00810F106AerSale common stock identifier in filing
Reporting address2070 E 2100 S, Suite 250, Salt Lake City, UT 84109principal business address for reporting persons
Signature date04/23/2026date signatures were provided on the amendment
Key Terms
Schedule 13G/A, Beneficial ownership, Shared dispositive power
3 terms
Schedule 13G/Aregulatory
"Amendment No. 2 and cover rows reporting beneficial ownership"
A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.
Beneficial ownershipfinancial
"All of the reported shares are owned directly by M3 Partners, L.P."
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
Shared dispositive powercorporate governance
"Shared Dispositive Power 3,983,632.00 appears in the cover rows"
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 2)
AerSale Corp.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
00810F106
(CUSIP Number)
03/31/2026
(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)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
00810F106
1
Names of Reporting Persons
M3 Funds, 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
0.00
6
Shared Voting Power
3,983,632.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,983,632.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,983,632.00
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)
8.43 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: Limited Liability Company
SCHEDULE 13G
CUSIP Number(s):
00810F106
1
Names of Reporting Persons
M3 Partners, 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
0.00
6
Shared Voting Power
3,983,632.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,983,632.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,983,632.00
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)
8.43 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP Number(s):
00810F106
1
Names of Reporting Persons
M3F, Inc.
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
UTAH
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
3,983,632.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,983,632.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,983,632.00
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)
8.43 %
12
Type of Reporting Person (See Instructions)
IA, CO
SCHEDULE 13G
CUSIP Number(s):
00810F106
1
Names of Reporting Persons
Jason A. Stock
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
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
3,983,632.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,983,632.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,983,632.00
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)
8.43 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
CUSIP Number(s):
00810F106
1
Names of Reporting Persons
William C. Waller
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
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
3,983,632.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,983,632.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,983,632.00
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)
8.43 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
AerSale Corp.
(b)
Address of issuer's principal executive offices:
9850 NW 41 Street, Suite 400, Doral, Florida 33178
Item 2.
(a)
Name of person filing:
M3 Funds, LLC
M3 Partners, LP
M3F, Inc.
Jason A. Stock
William C. Waller
(b)
Address or principal business office or, if none, residence:
For all persons filing, 2070 E 2100 S, Suite 250, Salt Lake City, UT 84109
(c)
Citizenship:
M3 Funds, LLC is a Delaware limited liability company
M3 Partners, LP is a Delaware limited partnership
M3F, Inc. is a Utah corporation
Mr. Stock and Mr. Waller are United States citizens
(d)
Title of class of securities:
Common Stock
(e)
CUSIP No.:
00810F106
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 responses of each Reporting Person to row 9 of the cover pages of this Schedule 13G are incorporated by reference into this Item 4.
All of the reported shares are owned directly by M3 Partners, L.P. ("M3 Partners"), whose general partner is M3 Funds, LLC (the "General Partner") and whose investment adviser is M3F, Inc. (the "Investment Adviser"). The General Partner and the Investment Adviser could each be deemed to be indirect beneficial owners of the reported shares, and could be deemed to share such beneficial ownership with M3 Partners.
Jason A. Stock and William C. Waller are the managers of the General Partner and the managing directors of the Investment Adviser, and could be deemed to share such indirect beneficial ownership with the General Partner, the Investment Adviser and M3 Partners.
(b)
Percent of class:
The responses of each Reporting Person to row 11 of the cover pages of this Schedule 13G are incorporated by reference into this Item 4.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
The responses of each Reporting Person to row 5 of the cover pages of this Schedule 13G are incorporated by reference into this Item 4.
(ii) Shared power to vote or to direct the vote:
The responses of each Reporting Person to row 6 of the cover pages of this Schedule 13G are incorporated by reference into this Item 4.
(iii) Sole power to dispose or to direct the disposition of:
The responses of each Reporting Person to row 7 of the cover pages of this Schedule 13G are incorporated by reference into this Item 4.
(iv) Shared power to dispose or to direct the disposition of:
The responses of each Reporting Person to row 8 of the cover pages of this Schedule 13G are incorporated by reference into this Item 4.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
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 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 stake does M3 Partners report in AerSale (ASLE)?
M3 Partners reports beneficial ownership of 3,983,632 shares, equal to 8.43% of AerSale's common stock. The shares are reported as directly held by M3 Partners with related entities disclosed as indirect owners.
Who are the reporting parties named in the Schedule 13G/A for ASLE?
The reporting parties are M3 Funds, LLC, M3 Partners, L.P., M3F, Inc., Jason A. Stock, and William C. Waller. Their common address is 2070 E 2100 S, Suite 250, Salt Lake City, UT 84109.
Does the filing show who controls voting or disposition of the shares?
The filing shows shared voting power and shared dispositive power of 3,983,632 shares. It attributes control through M3 Partners with potential indirect beneficial ownership by the General Partner and Investment Adviser.
When was the Schedule 13G/A signed for AerSale (ASLE)?
The signatures on the amendment are dated 04/23/2026. That date is the reporting timestamp provided by the signing reporting persons in the filing.
What does Schedule 13G/A filing type mean for ASLE shareholders?
A Schedule 13G/A is an ownership disclosure for passive or qualifying investors; it reports holdings such as the 3,983,632 shares (8.43%) here. It does not itself announce transactions or changes in voting strategy.
