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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 Aug. 11 through Aug. 17, 2022. Source: VerityData
Original Filings
Masimo
(MASI)
Politan Capital Management reported a new stake in the monitoring and sensor-technology firm of 8.8%, equal to 4,628,869 shares. That figure includes 4,096,784 underlying physically settled swap contracts, and exposure to another 197,585 Masimo shares related to cash-settled swaps. Politan said that it invested in Masimo stock as it believes the shares to be undervalued. Politan also revealed that it intends to engage with Masimo’s management and other interested parties to discuss, among other items, operations, strategy, and “the composition of the executive suite and board and possibilities for changes thereto.”
New York Times
(NYT)
ValueAct Capital disclosed an initial interest in the media company of 11,014,741 shares. That figure includes 7,430,512 New York Times shares underlying physically settled swaps. ValueAct revealed that it had and will continue to have discussions with New York Times covering various operational and strategic topics, including possible representation on the media firm’s board. ValueAct’s New York Times stake stands at 6.7%.
Increases in Holdings
Southwest Gas Holdings
(SWX)
Icahn Capital raised its position in the natural-gas company to 5,805,988 shares.
Icahn
added 710,988 Southwest Gas shares from Aug. 3 through Aug. 15 at prices ranging from $75.92 to $78.12 apiece. Icahn now holds 8.7% of the energy firm’s outstanding stock. Icahn also revealed that Ruby Sharma was appointed to Southwest Gas’ board to replace former Icahn representative Jose Cardenas, who resigned on Aug. 9. Earlier this year, Southwest Gas said it was considering alternatives, including the sale of the company.
Decreases in Holdings
California Resources
(CRC)
Ares Management reduced its interest in the oil-and-gas explorer to 3,515,916 shares.
Ares
sold 566,026 California Resources shares from July 28 through Aug. 12 at per share prices ranging from $45 to $45.98. Ares now holds a 4.7% position in California Resources; as it stands below the 5% ownership threshold, Ares is no longer required to disclose further sales of California Resources shares.
LSB Industries
(LXU)
SBT Investments cut its holding in the chemical maker by nearly 30%, to 18,272,476 shares. SBT sold 7,350,000 LSB Industries shares through a stock offering at a price of $12.32 per share. After the offering closed on Aug. 15, SBT owns a 22% interest in LSB Industries. SBT is an affiliate of Eldridge, a private-equity firm co-founded by Todd Boehly, who led a consortium to buy Chelsea Football Club and is a part owner of Los Angeles sports teams Dodgers, Lakers, and Sparks. Eldridge owns approximately 43% of LSB Industries.
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