13D Filings
Investors report to the SEC
13Ds are filed with the Securities and Exchange Commission within 10 days of an entity’s attaining a greater than 5% position in any class of a company’s securities. Subsequent changes in holdings or intentions must be reported in amended filings. This material has been extracted from filings released by the SEC from Oct. 9 to Oct. 15, 2014.
Source: InsiderScore.com
Activist Filings
Civeo (CVEO)
On Sept. 25, Civeo announced it would continue as a corporation and redomicile to Canada after it considered, among other things, a potential conversion to a real estate investment trust. Hedge fund Greenlight Capital disclosed that since the announcement, it’s “had conversations” with the board and management of Civeo, and it expects to continue having conversations.
In a filing, Greenlight suggested the company do the following: 1) Take on “leverage to make its capital structure more appropriate for a real estate company;” 2) implement “an aggressive program of returning capital to shareholders through a well-communicated dividend policy; and 3) replace CEO Bradley Dodson, who, Greenlight believes, “has lost the support and confidence” of Civeo’s shareholders.
Greenlight Capital disclosed it owns 10,658,929 shares (10% ofthe voting total ) after it bought 6,158,929 from Sept. 30 to Oct. 9 for $11.89 to $12.99 each. Greenlight also sold 1,654,400 shares from Aug. 13 to Sept. 26 at prices from $24.80 to $25.97.
Darden Restaurants (DRI)
Starboard Value disclosed that “according to the voting results from the 2014 annual meeting, all 12 of Starboard Value’s director nominees…were elected to the board at the 2014 annual meeting.” Starboard did not make any transactions in the past 60 days but owns 11,635,000 shares (8.8%).
Original Filings
Bellatrix Exploration (BXE)
Orange Capital disclosed holdings of 21,618,163 shares (11.8%) after buying the that total amount from July 2 to Oct. 14 at prices ranging from $5.54 to $9.84 per share.
Calithera BioSciences (CALA)
Delphi Ventures disclosed that it now owns 2,403,238 shares (13.6%) after purchasing 500,000 shares in Calithera’s Oct. 1 initial public offering at the $10 IPO price. Delphi did not, in its filing, disclose any specific plans it may have for the company or its reason for holding the stake.
Dermira (DERM)
New Enterprise Associates disclosed that it now owns 3,502,922 shares (14.1%) after purchasing 69,112 shares in Dermira’s Oct. 8 IPO at the $16 IPO price. New Enterprise didn’t disclose any specific plans or proposals.
Separately, Bay City Capital disclosed that it now owns 3,506,647 shares (also 14.1%) after purchasing 69,112 shares in Dermira’s IPO. Bay City added that it “acquired the shares for investment purposes with the aim of increasing the value of the investment and the company.”
Increases in Holdings
Altisource Asset Management (AAMC)
Luxor Capital Group increased its holdings to 7,338,891 shares (11.8%) after buying 39,217 shares from Sept. 12 to Oct. 14 at prices in a range of $619.27 to $700.
Decreases in Holdings
Dolby Laboratories (DLB)
The Dolby Estate decreased its holdings to 52,66,1166 shares (51.6%) after it sold 445,459 shares from Sept. 9 to Oct. 10 via a 10b5-1 trading plan, at prices in a range of $40.54 to $45.22 per share.
Patrick Industries (PATK)
Tontine Partners decreased its holdings to 2,340,529 shares (22.1%) after it sold 70,030 shares from Aug. 15 to Oct. 6 at prices in a range of $42.00 to $43.97 via a 10b5-1 trading plan. Tontine previously disclosed that its 10b5-1 trading plan is allotted to sell 150,000 shares and has 14,099 shares remaining.