These disclosures are from 13Ds filed with the Securities and Exchange Commission. 13Ds are filed within 10 days of an entity’s attaining more than 5% in any class of a company’s securities. Subsequent changes in holdings or intentions must be reported in amended filings. This material is from Aug. 5 through Aug. 11, 2021. Source: InsiderScore.com
Activist Holdings
Turtle Beach (HEAR)
Donerail Group holds 1,025,000 shares of the maker of gaming headsets, including 525,000 shares that underlie exercisable options. On April 27, Donerail made an unsolicited offer—at an undisclosed price—to acquire Turtle Beach. A meeting was then held on July 9, where Turtle Beach’s board rebuffed the proposal. According to Donerail, Turtle Beach thought the offer “was not deemed sufficiently high enough to warrant further engagement.” Donerail has only revealed that the all-cash offer was at a “significant premium” to both Turtle Beach’s July 8 closing price, and “any 30-day volume-weighted average price in the past seven years.”
Decreases in Holdings
Occidental Petroleum (OXY)
Icahn Capital reported a lower position in the oil-and-gas explorer of 66,155,972 shares, which include 19,304,913 shares underlying exercisable warrants. Icahn Capital first sold 1,200,000 Occidental shares on June 9 at $28.62 apiece. Icahn then sold a total of 2,274,287 Occidental shares over Aug. 5 and 6 at $26.50 per share. After those sales, Icahn now holds a 6.9% interest in Occidental’s tradable stock.
Fiserv (FISV)
KKR (KKR) revealed that its wholly owned affiliate, Omaha Holdings LP, adopted a 10b5-1 trading plan on Aug. 4 to sell up to a maximum 30,000,000 shares of the fintech stock. The plan is in effect until all of the Fiserv shares are sold or until May 31, 2022, whichever occurs first. If Omaha Holdings/KKR sells the maximum allotment, KKR would nearly halve its current stake of 62,300,667 Fiserv shares, equal to 9.4% of the outstanding stock.
Deere (DE), Canadian National Railway (CNI), and AutoNation (AN)
Cascade Investment, the investment vehicle of Microsoft (MSFT) co-founder Bill Gates, disclosed a reduced position in all three holdings as Bill Gates transferred securities to Melinda French Gates. A divorce between the two was finalized earlier this month.
On Aug. 5, Cascade transferred shares of the three companies directly to Melinda French Gates for no consideration. The transfers consisted of 2,813,500 shares of heavy-machinery maker Deere, 9,527,000 shares of railway operator Canadian National, and 3,332,063 shares of auto retailer AutoNation.
As a result, Cascade now owns 26,446,073 Deere shares, an 8.5% stake; 91,694,714 Canadian National, a 12.9% interest; and 12,158,211 AutoNation shares, 17% of the outstanding stock.
These are the latest stock transfers from Cascade Investment to Melinda Gates. The couple publicly disclosed in early May that they were divorcing. Shortly after, Bill Gates transferred stakes in a Coca-Cola (KO) bottler, Mexican broadcaster, and other companies worth nearly $2.4 billion to Melinda Gates. Later that month, Bill Gates’ Cascade Investment transferred more than $850 million in shares of Deere to Melinda Gates.
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