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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 May 26 through June 1, 2022. Source: VerityData (verityplatform.com)
Activist Holdings
Community West Bancshares
(CWBC)
PL Capital Advisers disclosed a stake in the California-based banking firm of 632,075 shares, a 7.3% interest in its tradable stock. On May 26, Community West shareholders elected PL Capital senior analyst Martin Alwin to its board. For over a year, PL Capital has pushed Community West’s board to adopt stock-ownership mandates for its directors and top executives to align management performance with shareholder interests.
Original Filings
Funko
(FNKO)
TCG Capital Management, the investment manager for limited partnership TCG 3.0 Fuji, revealed a fresh stake in the collectibles maker of 12,520,559 shares, equal to 26.9% of the outstanding stock. Fuji, through TCG, bought that entire stake through a May 19 purchase agreement with ACON Funko Investors. Per the agreement, Fuji acquired the Funko shares from ACON at a price of $21.00 each. In conjunction with the purchase, two Fuji representatives, including TCG co-founder Jesse Jacobs, were appointed to Funko’s board. Additionally, the agreement caps Fuji’s ownership in Funko to no more than 31.3%.
Increases in Holdings
Overstock.com
(OSTK)
Simcoe Capital Management lifted its interest in the online retailer to 2,440,085 shares. Driven by its view that Overstock is “substantially undervalued,” Simcoe bought 905,295 Overstock shares from April 27 through May 18 at prices ranging from $27.81 to $33.48 apiece. Simcoe now owns a 5.7% stake in Overstock.
Decreases in Holdings
Arcutis Biotherapeutics
(ARQT)
Bain Capital Life Sciences reduced its position in the biopharmaceutical company to 3,000,000 shares. On May 25, Bain Capital Life Sciences sold 979,292 Arcutis shares at a price of $20.03 each. Following those sales, Bain Capital Life Sciences holds a 5.8% interest in Arcutis.
AutoNation
(AN)
Edward Lambert trimmed his interest in the auto-parts retailer down to 8,430,522 shares. That figure includes 4,408 shares held in a limited-liability partnership’s account overseen by Lambert’s ESL Investments as well as 162,002 shares owned by The Lampert Foundation. From May 11 through May 25, Lambert sold 264,076 AutoNation shares at prices ranging from $107.64 to $120.56 apiece. Lambert delivered another 376,340 AutoNation shares to a banking firm as settlement to a series of forward contracts. After that settlement and the noted sales, Lambert owns 14.5% of AutoNation’s outstanding stock.
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