Genesco, Immunocore See Activist Action

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These disclosures come from 13D filed with the Securities and Exchange Commission. 13Ds are deposited within 10 days of an entity obtaining more than 5% in any class of a company’s securities. Subsequent changes to holdings or intentions must be declared in the amended documents. This material is from May 20 to 26, 2021. Source:

Activist funds



Legion partners said it retained a stake in the shoe retailer of 888,680 shares, or 5.9% of the outstanding stock. On May 24, Legion sent a letter to the retailer revealing that in light of the appointment of three new directors by Genesco, Legion withdrew three of its seven nominees to the Genesco board of directors. However, the Legion still believes that such a “partial refresh” is “insufficient to shatter the culture of grounding, self-interest and underperformance in the boardroom.” To this end, the Legion remains committed to soliciting proxies on behalf of its four other nominees at the next meeting of shareholders.

Original deposits



Baker brothers switched to an active investor as it revealed a 7.7% position in UK-based biotechnology. Baker Brothers owns 3,352,357 US Immunocore Certificates of Deposit, of which 1,689,102 were purchased as part of Immunocore’s initial public offering in February, which valued ADRs at $ 26 each. Most of Baker Brothers’ remaining stake resulted from the conversion of the pre-IPO securities to ADR immediately after the closing of the offer. Baker Brothers still owns 831,627 Immunocore non-voting shares which have not yet been converted into an equal number of ADRs.

Increase in assets



Silver Lake raised its position in the experience management services company to 22,736,074 shares. From May 13 to 17, Silver Lake purchased 217,590 Class A shares of Qualtrics at a price of $ 29.36 to $ 32.60 each. Silver Lake now owns 25.3% of the outstanding Class A shares. If you factor in Qualtrics’ additional share classes, Silver Lake’s overall interest drops to 4.4%.

Decrease in assets

Violet innovation


Capital of the Colosseum halved its stake in the mattress and bedding company to 8,238,912 Class A shares. Coliseum Capital sold 7,308,792 shares of Purple Innovation in a secondary offering at $ 30 each. The offer closed on May 21 and leaves Coliseum with a 12.4% stake in Purple Innovation. Taking into account the outstanding Class B shares of Purple Innovation, Coliseum’s stake is slightly lower, at 12.3%.

CAI International


Weiss Capital disclosed that it sold 406,401 shares of the shipping container rental company. Weiss sold these shares of CAI International from March 26 to May 25 at prices per share of $ 40.32 to $ 47.22. No reason was cited for the divestment, which leaves Weiss with just under 5% of CAI International’s tradable shares.

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Perry Perrie

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