There were 7 notable activist and passive investor filings today. That includes VMWare, Inc. (NYSE:VMW) and an amended filing from Silver Lake Group, L.L.C. and by Dell Technologies Inc.
When a person or group of persons acquires beneficial ownership of more than 5% of a company’s equity securities, they are required to file a Schedule 13D or 13G with the SEC. If these groups intend to influence management into changing the business strategy, they are considered “activist” investors. There is considerable academic research that suggest activist investors contribute to excess returns in equities in the subsequent twelve months after the event.
Investors that acquire 10% or more of a company’s shares, or that gain a board seat, are considered insiders by the SEC and are subject to stricter insider trading filing requirements.
New Passive Investor Filings
Investors that acquire more than 5% of the shares of a company but have no intention of influencing management are considered passive investors and must file a 13G.
Culp, Inc. (NYSE:CFI) – Culp, Inc. is a producer of mattress fabrics and marketer of upholstery fabrics for furniture in North America. ABERDEEN ASSET MANAGEMENT PLC/UK has filed a new SC 13G, reporting a 10.40% ownership stake in Culp, Inc.. This is an increase of 26.83% from their previous filing.
Amended Activist Investor Filings
VMWare, Inc. (NYSE:VMW) – VMware, Inc. is an information technology and virtualization company. Silver Lake Group, L.L.C. has filed an amended Schedule 13D/A, reporting a 82.20% ownership stake in VMWare, Inc.
VMWare, Inc. (NYSE:VMW) – Dell Technologies Inc has also filed an amended Schedule 13D/A, reporting a 82.20% ownership stake in VMWare.
KapStone Paper & Packaging Corp. (NYSE:KS) – KapStone Paper and Packaging Corporation is a producer of containerboard and the kraft paper in North America. KAPLAN MATTHEW S has filed an amended Schedule 13D/A, reporting a 4.02% ownership stake in KapStone Paper & Packaging Corp.
Trinity Place Holdings Inc. (AMEX:TPHS) – TPHS is a vertically integrated real estate company. MARCATO CAPITAL MANAGEMENT LP has filed an amended Schedule 13D/A, reporting a 14.10% ownership stake in Trinity Place Holdings Inc. This is a decrease of 14.55% from their previous filing.