13D Filing: Xl Investments Ltd and Five Oaks Investment Corp. (OAKS)

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934*

(Amendment No. 9)

Five Oaks
Investment Corp.

(Name of Issuer)

Common Stock, Par Value $0.01 Per Share

(Title of Class of Securities)

33830W106

(CUSIP Number)

Matthew J. Murabito, Esq.

General Counsel

XL Group
Investments LLC

200 Liberty Street, 22^nd Floor

New York, New York 10281

(212) 915-6140

(Name,
Address and Telephone Number of Person Authorized to Receive Notices and Communications)

With a copy to:

Sean M. Ewen, Esq.

Willkie Farr & Gallagher LLP

787 Seventh Avenue

New
York, New York 10019

(212) 728-8000

January 18, 2018

(Date
of Event which Requires Filing of this Statement)

If the filing person has
previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following
box:  ☐

NOTE: Schedules filed in paper format shall
include a signed original and five copies of the schedule, including all exhibits. See Rule 240.13d-7 for other parties to whom copies are to be sent.

The information required on the remainder of this cover page shall not be
deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act
(however, see the Notes).

SCHEDULE 13D

SCHEDULE 13D

SCHEDULE 13D

SCHEDULE 13D

Pursuant to Rule 13d-2 promulgated under the Act, this Schedule 13D/A (this Amendment
No. 9) amends the Schedule 13D filed on April 8, 2013 (the Original Schedule 13D), as previously amended on May 28, 2013 by Amendment No. 1 to Schedule 13D, on February 25, 2014 by Amendment No. 2 to the Schedule 13D, on
March 7, 2014 by Amendment No. 3 to the Schedule 13D, on June 24, 2014 by Amendment No. 4 to the Schedule 13D, on July 23, 2014 by Amendment No. 5 to the Schedule 13D, on December 29, 2016 by Amendment No. 6 to the Schedule 13D, on June 16, 2017 by
Amendment No. 7 to the Schedule 13D and on June 22, 2017 by Amendment No. 8 to the Schedule 13D (the Original Schedule 13D as so amended is collectively referred to herein as the Schedule 13D). This Amendment No. 9 relates to
the common stock, par value $0.01 per share (Common Stock), of Five Oaks Investment Corp., a Maryland corporation (the Company).

This Amendment No. 9 is being filed to update the information in the Schedule 13D (a) resulting from the sale (the Sale) by
XL Investments Ltd, a Bermuda exempted company (XL Investments), of 710,495 shares of Common Stock to Hunt Companies Equity Holdings, LLC, a Delaware limited liability company (Hunt), on January 18, 2018 and (b)
the related termination of all of its warrants to purchase shares of Common Stock. Capitalized terms used but not defined herein have the meanings ascribed to them in the Schedule 13D.

Item 4 of the Schedule 13D is hereby amended and supplemented
as follows:

Share Purchase Agreement

XL Investments and Hunt (the Purchaser), entered into a Share Purchase Agreement (the Purchase Agreement)
on January 18, 2018. On the terms and subject to the conditions set forth in the Purchase Agreement, on January 18, 2018, XL Investments sold to Purchaser 710,495 shares of Common Stock for an aggregate purchase price of $3,389,061.15. The Purchase
Agreement contains customary representations, warranties and covenants.

Warrant Termination Agreement

In connection with the Purchase Agreement and the transactions involving the Issuer, Oak Circle Capital Partners LLC and affiliates of Hunt
Companies, Inc., as publicly announced by the Issuer on January 18, 2018, the Issuer and XL Investments entered into a Warrant Termination Agreement (the Termination Agreement), dated January 18, 2018. On the terms and subject to
the conditions set forth in the Termination Agreement, XL Investments and the Issuer mutually agreed to terminate certain warrants to purchase 3,753,492 shares of Common Stock held by XL Investments effective upon execution of the Termination
Agreement.

The foregoing summaries of the Purchase Agreement and Termination Agreement contained herein are qualified in their entirety
by reference to Exhibit 99.1 and Exhibit 99.2, which are incorporated herein by reference in their entirety.

Item 5 of the Schedule 13D is hereby amended in
its entirety as follows:

(a), (b) As of January 18, 2018 each of XL Investments and XLGI Ltd may be deemed to beneficially own 3,330,550
shares of Common Stock, representing 14.1% of the outstanding shares of Common Stock, and each of XL Bermuda and XLGI LLC may be deemed to beneficially own 3,340,780 shares of Common Stock, representing 14.1% of the outstanding shares of Common
Stock. All percentages of the outstanding Common Stock are based on (i) the 22,143,758 shares of Common Stock outstanding as of January 17, 2018 as reported by the Company to the Reporting Persons, plus (ii) the 1,539,406 shares of Common Stock
reported by the Company in its press release dated January 18, 2018 as issued in a private placement to Hunt on January 18, 2018.

The
Reporting Persons may be deemed to constitute a person or group within the meaning of Section 13(d)(3) of the Exchange Act and Rule 13d-5(b)(1) thereunder. The filing of this Schedule 13D shall not be construed as an
admission of such beneficial ownership or that the Reporting Persons constitute a person or group.

(c) Except as set forth herein, each of the Reporting Persons reports that neither it, nor to its
knowledge, any other person named in Item 2 of the Schedule 13D, has effected any transactions in Common Stock during the past 60 days.

(d) Except as otherwise described in Item 2 of the Schedule 13D and this Item 5, no one other than the Reporting Persons has the right to
receive, or the power to direct the receipt of, dividends from, or the proceeds from the sale of, any of the securities of the Issuer beneficially owned by the Reporting Persons as described in Item 5.

(e) Not applicable.

Item 6 of the Schedule 13D is hereby amended and supplemented. The information set forth in Item 4 of this Amendment is hereby incorporated by
reference in this Item 6.

Exhibit 99.1 Share Purchase Agreement, dated
January 18, 2018, by and between XL Investments and Hunt.

Exhibit 99.2 Warrant Termination Agreement, dated January 18, 2018, by
and between the Issuer and XL Investments.

SIGNATURES

After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this statement
is true, complete and correct.

SCHEDULE I

Schedule I to the Schedule 13D is hereby amended as follows:

James Nevels is now a director of XL Group Ltd. The present business address of Mr. Nevels is One Bermudiana Road, Hamilton, Bermuda HM 08. The present
principal occupation of Mr. Nevels is Chariman of Swarthmore Group and Mr. Nevels is a citizen of the United States.

Jacob Rosengarten is no longer Chief
Risk Officer of XL Group Ltd.

W. Steadman Watson and George Bumeder are no longer officers of XLGI LLC.

The present business address of Susan Cross, an executive officer of XL Group Ltd has changed from 100 Washington Blvd., Stamford, CT 06902 to One Bermudiana
Road, Hamilton, Bermuda HM 08.