MMCAP and MM Asset Management report 8.7% stake in SUI Group (SUIG)

Rhea-AI Filing Summary

SUI Group Holdings Ltd. ownership disclosure: MMCAP International Inc. SPC and MM Asset Management Inc. report beneficial ownership of 6,650,751 shares, representing 8.7% of the outstanding common stock (CUSIP 59982U200). The filing states shared voting and dispositive power over these 6,650,751 shares. The filing is signed under a Joint Filing Agreement.

Insights

Institutional Ownership Analyst

Large passive stake disclosure: shared control of 6,650,751 shares (8.7%).

The filing lists 6,650,751 shares as beneficially owned with shared voting and dispositive power, indicating coordinated reporting by two related entities under a Joint Filing Agreement. The CUSIP is 59982U200.

Key dependencies include any future amendments that change percentage or voting power; subsequent filings will show whether this represents an increase, decrease, or static position.

Corporate Governance Specialist

Disclosure clarifies voting/dispositive authority and joint filing responsibility.

The schedule attributes 0 sole voting/dispositive powers and 6,650,751 shared voting/dispositive powers to the filers, consistent with a joint reporting arrangement. The document includes a signed Joint Filing Agreement.

Material governance implications depend on whether the stake confers influence at shareholder meetings; further changes would appear in future amendments.

Key Figures

Shares beneficially owned: 6,650,751 shares Percent of class: 8.7% CUSIP: 59982U200 +3 more

6 metrics

Shares beneficially owned 6,650,751 shares Item 4 beneficial ownership

Percent of class 8.7% Item 4 percent of class

CUSIP 59982U200 Cover page security identifier

Sole voting power 0 shares Item 4(i) sole power to vote

Shared voting power 6,650,751 shares Item 4(ii) shared power to vote

Signature date 05/08/2026 Filing signatures

Key Terms

Schedule 13G/A, beneficially owned, shared dispositive power, Joint Filing Agreement

4 terms

Schedule 13G/A regulatory

"Item 1. Name of issuer: SUI Group Holdings Ltd."

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.

beneficially owned regulatory

"Item 4. Amount beneficially owned: 6,650,751"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

shared dispositive power regulatory

"Item 4(iv) Shared power to dispose: 6,650,751"

Joint Filing Agreement regulatory

"Exhibit 99.1 Joint Filing Agreement"

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FAQ

What stake do MMCAP and MM Asset Management report in SUI Group (SUIG)?

They report beneficial ownership of 6,650,751 shares, equal to 8.7% of the common stock. The filing lists shared voting and dispositive power over the same 6,650,751 shares and references a Joint Filing Agreement.

Who filed the Schedule 13G/A for SUI Group (SUIG)?

The filing was made jointly by MMCAP International Inc. SPC and MM Asset Management Inc.. Addresses for the filers are provided, and the filing is signed under a Joint Filing Agreement dated in the filing.

Does the filing show sole voting or dispositive power for the filers?

No; the filing shows 0 shares with sole voting power and 0 shares with sole dispositive power. It reports 6,650,751 shares with shared voting and dispositive power.

What security and identifier are covered in this Schedule 13G/A?

The disclosure pertains to SUI Group Holdings Ltd. common stock, $0.001 par value, with CUSIP 59982U200. The filing lists the class of securities as common stock.

When was the Schedule 13G/A signed by the filers?

The filing shows signatures dated 05/08/2026. The document header includes 03/31/2026, and the signatures are executed by authorized representatives on 05/08/2026.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

SUI Group Holdings Ltd.

(Name of Issuer)

Common Stock, $0.001 par value

(Title of Class of Securities)

59982U200

(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): 59982U200

1

Names of Reporting Persons

MMCAP International Inc. SPC

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

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 6,650,751.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,650,751.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,650,751.00

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)

8.7 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP Number(s): 59982U200

1

Names of Reporting Persons

MM Asset Management 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

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 6,650,751.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,650,751.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,650,751.00

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)

8.7 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: SUI Group Holdings Ltd.
(b)	Address of issuer's principal executive offices: 1907 Wayzata Boulevard, Suite 205, Wayzata, MN 55391
Item 2.
(a)	Name of person filing: i) MMCAP International Inc. SPC ii) MM Asset Management Inc.
(b)	Address or principal business office or, if none, residence: i) c/o Mourant Governance Services (Cayman) Limited, 94 Solaris Avenue, Camana Bay, P. O. Box 1348, Grand Cayman KY1-1108, Cayman Islands ii) 161 Bay Street, TD Canada Trust Tower, Suite 2240, Toronto, Ontario M5J 2S1 Canada
(c)	Citizenship: i) Cayman Islands ii) Ontario, Canada
(d)	Title of class of securities: Common Stock, $0.001 par value
(e)	CUSIP No.: 59982U200
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: 6,650,751
(b)	Percent of class: 8.7%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 6,650,751
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 6,650,751
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.

MMCAP International Inc. SPC

Signature:	Ulla Vestergaard
Name/Title:	Director
Date:	05/08/2026

MM Asset Management Inc.

Signature:	Hillel Meltz
Name/Title:	President
Date:	05/08/2026

Exhibit Information

Exhibit 99.1 Joint Filing Agreement