# EDGAR Filing Document

**Accession Number:** 0002071778
**File Stem:** 0002123470-26-000002
**Filing Date:** 2026-5
**Character Count:** 13185
**Document Hash:** f4068447538c48a61b88f058c5dce544
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002123470-26-000002.hdr.sgml**: 20260515

**ACCESSION NUMBER**: 0002123470-26-000002

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D

**PUBLIC DOCUMENT COUNT**: 4

**FILED AS OF DATE**: 20260515

**DATE AS OF CHANGE**: 20260515

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Fermi Inc.
- **CENTRAL INDEX KEY:** 0002071778
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 333560468
- **STATE OF INCORPORATION:** TX
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-95303
- **FILM NUMBER:** 26986258

**BUSINESS ADDRESS:**
- **STREET 1:** 620 S. TAYLOR
- **STREET 2:** SUITE 301
- **CITY:** AMARILLO
- **STATE:** TX
- **ZIP:** 79101
- **BUSINESS PHONE:** 512-552-0219

**MAIL ADDRESS:**
- **STREET 1:** 620 S. TAYLOR
- **STREET 2:** SUITE 301
- **CITY:** AMARILLO
- **STATE:** TX
- **ZIP:** 79101

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Fermi LLC
- **DATE OF NAME CHANGE:** 20250605
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Caddis Holdings, LP
- **CENTRAL INDEX KEY:** 0002123470

**ORGANIZATION NAME:**
- **EIN:** 881037915
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D

**BUSINESS ADDRESS:**
- **STREET 1:** 1333 OAK LAWN AVE
- **STREET 2:** SUITE 900
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75207
- **BUSINESS PHONE:** 214-300-9007

**MAIL ADDRESS:**
- **STREET 1:** 1333 OAK LAWN AVE
- **STREET 2:** SUITE 900
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75207

### Attached PDF Documents

**Attachment 1:** `schedulea.pdf`

_No text found in this document._

**Attachment 2:** `jointfilingstatement.pdf`

_No text found in this document._

**Attachment 3:** `pressrelease.pdf`

_No text found in this document._

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**Fermi Inc.**

*(Name of Issuer)*

**Common Stock, $0.001 par value**

*(Title of Class of Securities)*

**—**

*(CUSIP Number)*

**Caddis Holdings, LP**<br>1333 Oak Lawn Ave.<br>Suite 900<br>Dallas TX 75207<br>214-300-9007

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**05/11/2026**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Caddis Holdings, LP** | Name of reporting person<br>**Caddis Holdings, LP** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**57446450.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**57446450.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**57446450.00** | Aggregate amount beneficially owned by each reporting person<br>**57446450.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**9.1%** | Percent of class represented by amount in Row (11)<br>**9.1%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

**Comment for Reporting Person:** Percentage of class represented is calculated based on 629,839,790 shares of Common Stock outstanding as of March 23, 2026, as reported on the Issuer's Form 10-K filed on March 30, 2026, pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 (the "10-K").

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Perry Griffin** | Name of reporting person<br>**Perry Griffin** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**TEXAS** | Citizenship or place of organization<br>**TEXAS** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**57446450.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**57446450.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**57446450.00** | Aggregate amount beneficially owned by each reporting person<br>**57446450.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**9.1%** | Percent of class represented by amount in Row (11)<br>**9.1%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**HC** | Type of Reporting Person (See Instructions)<br>**HC** | |

---

**Comment for Reporting Person:** Percentage of class represented is calculated based on 629,839,790 shares of Common Stock outstanding as of March 23, 2026, as reported on the 10-K.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock, $0.001 par value

**(b) Name of Issuer:**
Fermi Inc.

**(c) Address of Issuer's Principal Executive Offices:**
620 S. TAYLOR, SUITE 301, AMARILLO, TX, 79101

**Item 4. Purpose of Transaction**

The Reporting Persons originally acquired the Common Stock reported herein as a Co-Founder of the Issuer prior to the initial public offering of the Issuer. The Reporting Persons believed and continue to believe in the strategic importance of the Issuer and its long-term prospects.  The Reporting Persons have had and anticipate having further communications with officers and directors of the Issuer in connection with the Reporting Persons' investment in the Issuer.  Specifically, the Reporting Person issued a press release May 11, 2026 attached hereto as Exhibit 99.2 (the "Press Release") reaffirming the Reporting Persons' support for Fermi's Board of Directors (the "Board"), the Issuer's management team, and its long-term strategic plan.  The Reporting Persons are actively and constructively engaged with the Board and management team to help the Issuer reach its full potential, including through ongoing discussions with strategic partners, advocating for rigorous capital allocation and best-in-class governance practices, and working collaboratively to maximize long-term value for our fellow shareholders, employees, customers, and other stakeholders.

The Reporting Persons may also have similar conversations with other stockholders or other third parties, such as industry analysts, existing or potential strategic partners or competitors, investment professionals and other investors and may exchange information with any such persons or the Issuer pursuant to appropriate confidentiality or similar agreements (which may contain customary standstill provisions).  The Reporting Persons may at any time reconsider and change their intentions relating to the foregoing.  The Reporting Persons may also take one or more of the actions described in subsections (a) through (j) of Item 4 of Schedule 13D and may discuss or propose such actions with the Issuer's management and the Board, other stockholders of the Issuer and other third parties, such as those set out above.  The Reporting Persons may also take steps to explore and prepare for various plans and actions, and propose transactions, before forming an intention to engage in such plans or actions or proceed with such transactions.

The Reporting Persons intend to review their investments in the Issuer on a continuing basis.  Depending on various factors, including, without limitation, the Issuer's financial position and strategic direction, the outcome of the discussions and matters referenced above, actions taken by the Issuer's management or Board, price levels of the Common Stock, liquidity requirements and other investment opportunities available to the Reporting Persons, conditions in the securities market and general economic and industry conditions, the Reporting Persons may in the future take actions with respect to their investment position in the Issuer as they deem appropriate, including, without limitation, purchasing additional shares of Common Stock or other instruments that are based upon or relate to the value of the Common Stock or the Issuer in the open market or otherwise, selling some or all of the securities reported herein, and/or engaging in hedging or similar transactions with respect to the shares of Common Stock.

**Item 5. Interest in Securities of the Issuer**

**(a)**
See rows (11) and (13) of the cover pages to this Schedule 13D for the aggregate number of shares of Common Stock and percentage of the Common Stock beneficially owned by each of the Reporting Persons. The percentages reported in this Amendment were calculated based upon the 629,839,790 shares of Common Stock outstanding as of March 23, 2026, as reported on the 10-K.

**(b)**
See rows (8) and (10) of the cover pages to this Schedule 13D for the number of shares of Common Stock as to which each Reporting Person has the shared power to vote or direct the vote and shared power to dispose or to direct the disposition.

**(c)**
The transactions effected by the Reporting Persons in the Common Stock of the Issuer during the past sixty (60) days are set forth on Schedule A.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

Caddis entered into that certain Director Nomination Agreement by and between the Issuer, Caddis, and other shareholders, which governs their right to nominate persons for election to the Board, as attached as EX-10.23 to the Issuer's Form S-11/A filed on September 24, 2025 (the "Director Nomination Agreement"). Pursuant to the Director Nomination Agreement, Caddis has the right to nominate to the Board one designee for election as a Director for so long as Caddis beneficially owns more than 50% of the shares of Common Stock that were held immediately following the completion of the initial public offering of the Issuer. Other than Director Nomination Agreement, there are no contacts, arrangements, understandings or relationships (legal or otherwise) among any Reporting Person or between such persons and any person with respect to any securities of the Issuer, including any class of the Issuer's securities used as a reference security, in connection with any of the following: call options, put options, security-based swaps or any other derivative securities, transfer or voting of securities, finder's fees, joint ventures, loan or option arrangements, guarantees of profits, division of profit or loss, or the giving or withholding of proxies.

### 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.

**Reporting Person:** Caddis Holdings, LP

**Signature:** /s/ Griffin Perry

**Name/Title:** Griffin Perry

**Date:** 05/15/2026

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.

**Reporting Person:** Perry Griffin

**Signature:** /s/ Griffin Perry

**Name/Title:** Griffin Perry

**Date:** 05/15/2026