13Ds are filed with the Securities and Exchange Commission within 10 days of an entity's attaining a 5% or more position in any class of a company's securities. Any subsequent change in holdings or intentions must be reported on an amended filing. This material has been extracted from filings released by the SEC from April 17 through 23.
Source: Corporate Filings Alert, Washington
Grace Brothers will nominate J. Robert Peart, Gregg G. Williams, James C. Hill, Robert J. Daniels, Robert W. Sullivan and Margaret B. Hampton as directors at Ladish's annual meeting May 14. Hampton and Sullivan currently serve on Ladish's board. Grace Brothers holds 3,858,973 shares (29.6% of the total outstanding).
Lumenis shareholder Barnard Gottstein asked the company to include another shareholder, Robert A. Mintz, on its slate of candidates for the board of directors. Mintz is general manager of Carr-Gottstein Properties, a real-estate company controlled by Gottstein. Gottstein owns 2,272,134 shares (6.2%).
Brazil Fund (BZF)
A group including Carrousel Fund may seek to end the advisory and management agreement between the fund and its investment adviser, to put forth candidates for election to the board or to convert the fund to open-end status. The Carrousel Fund group reported ownership of 1,565,800 shares (9.5%).
Investor Herbert Chen says that because TranSwitch's convertible bonds are trading at a "sharp discount" to par, the company should exchange them for bonds with later maturities. "The time to do this is now, because the shorter the time to maturity, the more powerful the bondholder position becomes," argued Chen, who owns 4.7 million shares (5.2%).
A group including Farallon Capital Management reported ownership of 2,074,644 shares (5.1%), after buying 34,644 from April 11 to 17 at $5.34-$5.38 each.
Wilshire Oil of Texas (WOC)
Oaktree Capital Management believes Wilshire Oil shares are "undervalued" and that the company's board should evaluate alternatives to maximize shareholder value. Oaktree has held discussions with Kevin McTavish, although the filing didn't disclose McTavish's relationship to the company. Oaktree Capital Management reported ownership of 304,200 shares (3.9%).
Arch Wireless (AWIN)
A group including Franklin Resources (BEN) believes that the Arch Wireless company should elect an independent director as chairman. The Franklin group wants the Arch Wireless board to consider reducing the number of directors nominated for election at the next annual shareholders' meeting. The Franklin group beneficially owns 1,988,433 shares (10.8%).
Increases in Holdings
Prime Hospitality (PDQ)
Investors including Prime Hospitality Chairman and CEO A.F. Petrocelli raised their holdings to 4,873,297 shares (10.5%) after buying 450,000 on April 11 at $5.30 a share.
Lillian Vernon (LVC)
Funds run by Gabelli Asset Management (GBL) raised their stake to 2,226,712 shares (26.6%), buying 470,000 from Feb. 18 to April 16 at $3.88-$7.11 each.
Decreases in Holdings
Fisher Scientific International
A group including Crédit Suisse First Boston cut its holdings to 1,020,890 shares (1.89%) when it sold 1,723,892 in the open market from Jan. 15 to March 31 at undisclosed prices.
Leitch Technology (LVID)
Caisse de depôt et placement du Québec lowered its ownership to 1,483,003 shares (4.98%) when it sold 387,000 shares from Jan. 7 to April 14 at CDN$5.06-CDN$5.47 each.
Third Avenue Management cut its stake to 9,504,300 shares (4.9%) after selling 3,042,200 from Feb. 12 to April 11 at prices ranging from $1.48 to $2.21.
A group of investors including Compression Inc. reduced its stake to 2,145,150 shares (7.4%) when it sold 646,300 from Feb. 19 to April 21 at $9.75-$11.45 each.
Liberty All-Star Equity Fund
A group including the Liberty Mutual Insurance Company cut its position to 6,444,096 shares (5.3%) after selling 699,500 in the open market from March 17 to April 14 at undisclosed prices.