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 July 13 through July 19, 2023. Source: VerityData
Original Filings
NextDecade
(NEXT)
Barden Hill Investment Partners disclosed a fresh position in the liquefied-natural-gas firm of 12,702,588 shares. All but 91,945 of those NextDecade shares underlie convertible preferred securities, with the remainder tied to warrants. On July 12, a positive final investment decision, or FID, event, was made regarding the construction of liquefaction trains at NextDecade’s Brownsville, Texas, export facility. Accordingly, with the FID event, Barden Hill’s convertible preferred shares will convert to common stock on July 26. With that and the warrants, Barden Hill holds a 5.3% interest in NextDecade.
Decreases in Holdings
Ivanhoe Electric
(IE)
Orion Resource Partners cut its position in the copper and gold miner to 3,954,383 shares. Orion Resource sold one million Ivanhoe Electric shares from July 13 through July 17 at prices ranging from $15.55 to $16.27 apiece. Orion Resource now owns a 3.8% interest in the mining firm, below the 5% threshold that requires Orion Resource to disclose any further Ivanhoe Electric stock sales.
Dell Technologies
(DELL)
Silver Lake sold 3,546,891 Class C shares of the computer-tech giant on July 11-12. They were sold at prices ranging from $54.30 to $55.85 apiece, leaving Silver Lake with 90,765,252 Dell shares, equal to 12.5% of the total outstanding stock. In early June, Dell reported strong first-quarter earnings. Dell saw second-quarter PC shipments dive 22% from the year before, according to IDC.
In the past week, Dell reached an agreement to buy Moogsoft, an artificial-intelligence-driven provider of intelligent monitoring solutions that support development and information-technology operations. The transaction is expected to be completed in the third quarter. Dell is due to report second-quarter earnings on Aug. 31. The stock has gained nearly 35% year to date.
Garrett Motion
(GTX)
Baupost Group reduced its stake in the automotive hardware maker to 21,137,289 shares. Without citing a reason, Baupost sold 2,833,000 Garrett Motion shares from July 13 through July 17 at per share prices ranging from $7.47 to $7.52. Following the sales, Baupost holds almost 8% of Garrett Motion’s outstanding stock. The company plans to issue second-quarter earnings on July 27, before the market opens. Garrett Motion has gained roughly 12% year to date.
TD Synnex
(SNX)
Apollo Global Management
(APO) affiliates sold 2,300,000 shares of the IT enterprise firm, trimming its TD Synnex holding to 35,499,882 shares. Apollo Global sold the 2.3 million TD Synnex shares through a Rule 144 trade executed on July 11 at a price of $94.50 each. Apollo remains TD Synnex’s largest shareholder, with a 37.9% interest. Partner and co-head of private equity Matt Nord and partner Robert Kalsow-Ramos serve on TD Synnex’s board.
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