John D. Cote Reports 17.8% GPGI Stake In Administrative Update, With No Share Trades
The ownership update changes entity names and retains agreements to support Tungsten OpCo Holder’s board nominees.
John D. Cote reported a 17.8% stake in GPGI, which owns payment-card, digital-security and plastic-molding equipment businesses, in an amended SEC ownership disclosure filed Friday. The update covers administrative changes, including entity names, rather than purchases or sales by the reporting holders.
One Holding, Overlapping Ownership
Cote’s reported beneficial ownership—shares attributed to him under SEC ownership rules—was 51,708,627 Class A shares. That figure includes stock held by related entities and his spouse, along with vested options; it is not a tally of shares held personally.
The largest component is 49,290,409 shares held by Tungsten OpCo Holder LLC, formerly Resolute Compo Holdings LLC. That entity reports 17.0% ownership. Tungsten 2024 LLC, its managing member, holds another 879,963 shares directly and reports beneficial ownership of 50,170,372 shares, or 17.3%.
Cote manages Tungsten 2024. His reported total also includes 1,500,000 shares held through Ridge Valley LLC, which he manages, 5,800 held by his spouse and options exercisable within 60 days for 32,455 shares.
Thomas R. Knott reports 49,909,168 shares, or 17.2%, including the same Tungsten OpCo Holder position, 129,250 directly held shares and vested options for 489,509 shares. Knott is the sole and managing member of C 323 Holdings, a non-managing member of Tungsten OpCo Holder. These overlapping disclosures describe shared ownership attribution, not separate blocks to add together.
Board Support Beyond The Reported Stakes
Michele D. Logan and CompoSecure Employee, L.L.C. have agreed to vote for Tungsten OpCo Holder’s board nominees under their respective purchase agreements. Logan holds 2,000,000 shares, and CompoSecure Employee holds 618,013; those shares are excluded from the reporting holders’ beneficial-ownership figures.
Tungsten 2024 has authority to vote and sell Tungsten OpCo Holder’s shares, subject to consultation rights held by C 323 Holdings. The ownership percentages use 289,901,892 Class A shares outstanding Tuesday as their base.
Metal Cards And Molding Equipment
GPGI’s CompoSecure business sells metal payment cards to banks and financial technology companies, plus Arculus authentication and digital-asset storage products. CompoSecure delivered more than 32 million payment cards in 2025.
GPGI bought Husky on January 12, 2026. Husky supplies injection-molding equipment, molds, parts and services to food, packaging and medical customers, with approximately 65% of revenue coming from aftermarket products, services and upgrades. As of December 31, 2025, it served approximately 4,000 customers across approximately 140 countries.
Friday’s amendment updates the names attached to the ownership structure while retaining the existing board-nominee voting agreements; it records no share purchases or sales by the reporting holders.
Sources
- SCHEDULE 13D/A — John D. Cote re: GPGI, Inc. (GPGI) — SEC EDGAR
- SCHEDULE 13D/A Exhibit 99 — APPENDIX A — SEC EDGAR
