Stocks

AerCap Holdings N.V. (AER) and Finjan Holdings, Inc. (FNJN) Activist Update

Waha Capital PJSC has filed an SC 13D/A form with the Securities and Exchange Commission (SEC) disclosing ownership of 23,072,176 shares of AerCap Holdings N.V. (NYSE:AER). This represents 15.08 percent ownership of the company. Previously, Waha Capital PJSC had reported owning 24,425,501 shares, indicating a decrease of -5.54 percent.

Halcyon Long Duration Recoveries Management Lp has filed an SC 13D form with the Securities and Exchange Commission (SEC) disclosing ownership of 4,272,427 shares of Finjan Holdings, Inc. (NASDAQ:FNJN). This represents 14.2 percent ownership of the company. Finjan Holdings, Inc. has declared a standard industrial code (sic) of 6794 which is the “Patent Owners and Lessors” industry.

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 Activist Investor Filings

Investors that acquire more than 5% of the shares of a company and intend to influence management are considered activist investors and must file a 13D.

Gogo Inc. (GOGO) – Senator Investment Group LP has filed a new SC 13D, reporting a 6.50% ownership stake in Gogo. This is an increase of 13.64% from their previous filing.

Finjan Holdings, Inc. (FNJN) – Halcyon Long Duration Recoveries Management Lp has filed a new SC 13D, reporting a 14.20% ownership stake in Finjan Holdings.

Vitamin Shoppe, Inc. (VSI) – Vintage Capital Management LLC has filed a new SC 13D, reporting a 17.00% ownership stake in Vitamin Shoppe. This is an increase of 37.10% from their previous filing.

Amended Activist Investor Filings

Tokai Pharmaceuticals, Inc. (TKAI) – OrbiMed Israel BioFund GP Limited Partnership has filed an amended Schedule 13D/A, reporting a 26.97% ownership stake in Tokai Pharmaceuticals. This is a decrease of 25.50% from their previous filing.

Sussex Bancorp, Inc. (SBBX) – Seidman Lawrence B has filed an amended Schedule 13D/A, reporting a 3.81% ownership stake in Sussex Bancorp.

NOVELION THERAPEUTICS INC. (NVLN) – Sarissa Capital Management LP has filed an amended Schedule 13D/A, reporting a 9.86% ownership stake in NOVELION THERAPEUTICS.

AerCap Holdings N.V. (AER) – Waha Capital PJSC has filed an amended Schedule 13D/A, reporting a 15.08% ownership stake in AerCap Holdings N.V.. This is a decrease of 2.46% from their previous filing.

Rapid7, Inc. (RPD) – Bain Capital Venture Fund 2007, L.P. has filed an amended Schedule 13D/A, reporting a 7.00% ownership stake in Rapid7.

ALJ Regional Holdings, Inc. (ALJJ) – Ravich Jess M has filed an amended Schedule 13D/A, reporting a 37.30% ownership stake in ALJ Regional Holdings. This is an increase of 0.54% from their previous filing.

Famous Dave’s of America, Inc. (DAVE) – Wexford Capital Lp has filed an amended Schedule 13D/A, reporting a 21.07% ownership stake in Famous Dave’s of America. This is an increase of 10.72% from their previous filing.

Trinity Industries, Inc. (TRN) – VA Partners I, LLC has filed an amended Schedule 13D/A, reporting a 13.80% ownership stake in Trinity Industries. This is an increase of 12.20% from their previous filing.

Graham Holdings Company (GHC) – Graham Donald has filed an amended Schedule 13D/A, reporting a 17.85% ownership stake in Graham Holdings. This is a decrease of 7.37% from their previous filing.

Newell Brands Inc. (NWL) – Icahn Carl C has filed an amended Schedule 13D/A, reporting a 6.96% ownership stake in Newell Brands. This is an increase of 1.46% from their previous filing.

ONE Group Hospitality, Inc. (STKS) – Philotimo Fund, LP has filed an amended Schedule 13D/A, reporting a 17.30% ownership stake in ONE Group Hospitality. This is an increase of 3.59% from their previous filing.

HopFed Bancorp, Inc. (HFBC) – Stilwell Joseph has filed an amended Schedule 13D/A, reporting a 9.50% ownership stake in HopFed Bancorp. This is an increase of 1.06% from their previous filing.

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.

CB Pharma Acquisition Corp. (CNLM) – K2 Principal Fund, L.p. has filed a new SC 13G, reporting a 9.72% ownership stake in CB Pharma Acquisition.

Corvus Pharmaceuticals, Inc. (CRVS) – Biotechnology Value Fund L P has filed a new SC 13G, reporting a 6.70% ownership stake in Corvus Pharmaceuticals.

Alphatec Holdings, Inc. (ATEC) – Armistice Capital, Llc has filed a new SC 13G, reporting a 9.99% ownership stake in Alphatec Holdings.

Amended Passive Investor Filings

Dreyfus Municipal Income Fund, Inc. (DMF) – Bank Of America Corp /de/ has filed an amended Schedule 13D/A, reporting a 16.13% ownership stake in Dreyfus Municipal Income Fund. This is an increase of 65.44% from their previous filing.

Dreyfus Strategic Municipals, Inc. (LEO) – Bank Of America Corp /de/ has filed an amended Schedule 13D/A, reporting a 17.90% ownership stake in Dreyfus Strategic Municipals. This is an increase of 80.99% from their previous filing.

Hudson Ltd. (HUD) – Norges Bank has filed an amended Schedule 13D/A, reporting a 4.39% ownership stake in Hudson.

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