SEC Filing Analysis: Tempus AI, Inc.

Executive Summary

• Trading Significance: Medium
• Key Takeaway: Major passive investor Red Sky Ventures LLC has filed to report its ownership stake in Tempus AI has fallen to 4.7%, below the 5% reporting threshold.
• Market Impact: Neutral. This event signals a reduction in conviction from a large holder but does not necessarily indicate a fundamental problem with the company, as the investor retains a large position.

Company Information

Field	Value
Company	Tempus AI, Inc.
Ticker Symbol	Not specified in filing
CIK	0001717115
Industry	Services-Computer Programming, Data Processing, Etc.

Insider Information

Field	Value
Name	Red Sky Ventures LLC (jointly with Kimberly Jo Keywell)
CIK	0002027924
Title/Position	Passive Investor
Relationship	Former >5% Beneficial Owner

Transaction Details

This filing is a Schedule 13G/A, which reports a change in beneficial ownership status, not a specific transaction.

Field	Value
Form Type	SCHEDULE 13G/A
Event Date	2025-09-30
Transaction Code	Not Applicable
Security Type	Class A Common Stock
Shares Involved	Not specified
Price Per Share	Not specified
Total Value	Not specified
Shares Owned After	8,059,321
Ownership Type	Indirect

Financial Impact Assessment

Ownership Status Change

This filing's primary purpose is to declare that the reporting person is no longer a beneficial owner of more than 5% of the issuer's stock.

Metric	Value
Post-Event Ownership	8,059,321 shares
% of Shares Outstanding	4.7%
Basis for Percentage	Based on 172,863,470 shares outstanding as of 10/30/2025
Materiality Assessment	Medium. Dropping below the 5% threshold is a material change in a company's ownership structure, as the investor is no longer subject to the same level of reporting requirements.

Impact Evaluation

• Market Cap Context: With a market cap of $12.73 billion, Tempus AI is a large-cap company. The remaining stake of 8,059,321 shares is still substantial, likely valued in the hundreds of millions of dollars, indicating the investor has not fully divested.
• Ownership Concentration: The reduction of this stake slightly de-concentrates ownership. The key impact is that future sales by this investor will no longer be as transparent to the public market.
• Transaction Significance: The significance lies not in a single transaction, but in the cumulative sales that led to the ownership level falling below the key 5% regulatory mark. It signals a material reduction from a previously large passive holder.

Market Impact Analysis

Stock Impact Prediction

• Direction: Neutral
• Reasoning: The sales leading to this filing have already occurred. While it reveals a reduction in a major investor's position, the fact that it is a passive investor and a substantial stake remains mitigates a strongly negative interpretation. The market reaction is often muted for 13G filings compared to Form 4 sales by executives.

Volume & Sentiment

• Expected Volume Impact: Low. The filing reports a past event, so it is unlikely to trigger significant trading volume itself.
• Sentiment Indicator: Neutral. The information is a mixed signal: a large investor sold down, but still holds a major position.

Investment Insights

Positive Market Indicators

• The investor, Red Sky Ventures, has not fully exited its position and still holds over 8 million shares, indicating some level of continued belief in the company.

Risk Factors

• A significant institutional holder reducing their stake below the 5% threshold can be a leading indicator of a full exit over time.
• The reason for the reduction is unknown and could signal a negative change in the investor's outlook on the company's future prospects.

Key Takeaways

1. Ownership Threshold Crossed: Red Sky Ventures is no longer a >5% beneficial owner of Tempus AI, reducing its reporting obligations.
2. Substantial Stake Remains: The firm's ownership now stands at 4.7%, representing 8,059,321 shares of Class A Common Stock.
3. Reduced Transparency: The market will have less visibility into this specific investor's future trading activity in Tempus AI stock.

Additional Context

Transaction Notes

• This Schedule 13G/A (Amendment No. 3) reports a change in ownership status as of September 30, 2025. The filing itself was made on November 13, 2025.