In a recent filing with the US Securities and Exchange Commission, John Burbank‘s Passport Capital revealed a passive stake in Hortonworks Inc (NASDAQ:HDP). The 13G filing showed that Passport owns around 6.67 million shares of Hortonworks, versus 1.71 million shares it disclosed in its latest 13F filing.
What does the smart money think about Hortonworks Inc (NASDAQ:HDP)?
At Q4’s end, a total of 19 of the hedge funds tracked by Insider Monkey were long this stock, a change of 19% from the third quarter. With hedgies’ sentiment swirling, there exists an “upper tier” of notable hedge fund managers who were boosting their stakes significantly (or already accumulated large positions).
Of the funds tracked by Insider Monkey, Citadel Investment Group, managed by Ken Griffin, holds the number one position in Hortonworks Inc (NASDAQ:HDP). Citadel Investment Group has a $40.8 million position in the stock, comprising less than 0.1%% of its 13F portfolio. On Citadel Investment Group’s heels is John Burbank of Passport Capital, with a $37.4 million position; the fund has 0.6% of its 13F portfolio invested in the stock. Some other members of the smart money with similar optimism include Christopher Medlock James’s Partner Fund Management, Clint Carlson’s Carlson Capital and Israel Englander’s Millennium Management.
You can access the original SEC filing by clicking here.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| Passport Capital | 0 | 6,668,505 | 0 | 6,668,505 | 6,668,505 | 12.2% |
| John H. Burbank III | 0 | 6,668,505 | 0 | 6,668,505 | 6,668,505 | 12.2% |
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Page 1 of 7 SEC Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington,
D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
Hortonworks, Inc.
(Name of
Issuer)
Common Stock
(Title of Class of Securities)
440894103
(CUSIP Number)
February 29, 2016
(Date of Event which
Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:
[X] Rule 13d-1(b)
[_] Rule 13d-1(c)
[_] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a
reporting persons initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in 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).
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Page 2 of 7 SEC Filing
SCHEDULE 13G
| CUSIP No. 440894103 |
| 1 | Names of Reporting Persons Passport Capital, LLC | ||
| 2 | Check the appropriate box if a member of a Group (see instructions) (a) [ ] | ||
| 3 | Sec Use Only | ||
| 4 | Citizenship or Place of Organization Delaware | ||
| Number of Shares Beneficially Owned by Each Reporting Person With: | 5 | Sole Voting Power 0 | |
| 6 | Shared Voting Power 6,668,505 (See Item 2) | ||
| 7 | Sole Dispositive Power 0 | ||
| 8 | Shared Dispositive Power 6,668,505 (See Item 2) | ||
| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person 6,668,505 (See Item 2) | ||
| 10 | Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)[ ] | ||
| 11 | Percent of class represented by amount in row (9) 12.2% | ||
| 12 | Type of Reporting Person (See Instructions) IA | ||
Page 2 of 7
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Page 3 of 7 SEC Filing
SCHEDULE 13G
| CUSIP No. 440894103 |
| 1 | Names of Reporting Persons John H. Burbank III | ||
| 2 | Check the appropriate box if a member of a Group (see instructions) (a) [ ] | ||
| 3 | Sec Use Only | ||
| 4 | Citizenship or Place of Organization United States of America | ||
| Number of Shares Beneficially Owned by Each Reporting Person With: | 5 | Sole Voting Power 0 | |
| 6 | Shared Voting Power 6,668,505 (See Item 2) | ||
| 7 | Sole Dispositive Power 0 | ||
| 8 | Shared Dispositive Power 6,668,505 (See Item 2) | ||
| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person 6,668,505 (See Item 2) | ||
| 10 | Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)[ ] | ||
| 11 | Percent of class represented by amount in row (9) 12.2% | ||
| 12 | Type of Reporting Person (See Instructions) IN | ||
Page 3 of 7
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Page 4 of 7 SEC Filing
| Item 1. |
| (a) | Name of Issuer: Hortonworks, Inc. |
| (b) | Address of Issuers Principal Executive |
| 5470 Great America Parkway |
| Item 2. |
Name of Person Filing:
Passport Capital, LLC (Passport
Capital); and
John H. Burbank III (Burbank, together with Passport
Capital, the Reporting Persons).
Passport Capital is the investment
manager to certain funds (the Funds). The Funds are the owners of record of an
aggregate of 6,668,505 Shares. Under the terms of the relevant investment
management agreements, Passport Capital has the right to dispose of and vote the
Shares owned of record by the Funds. Burbank is the sole managing member of
Passport Capital. As a result, each of Passport Capital and Burbank may be
considered to share (i) the power to vote or direct the vote of and (ii) the
power to dispose or direct the disposition of, the Shares owned of record by the
Funds. This statement on Schedule 13G shall not be construed as an admission
that any of the Funds is the beneficial owner of the Shares covered by this
statement.
| (a) | Address of Principal Business Office or, if None, |
| For each Reporting Person: | |
| c/o Passport Capital, LLC | |
| (b) | Citizenship: |
| See row 4 of each Reporting Persons respective cover | |
| (c) | Title and Class of Securities: |
| Common Stock | |
| (d) | CUSIP No.: 440894103 |
| Item 3. | If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: |
| (a) | [_] | Broker or dealer registered under Section 15 of the Act; | |
| (b) | [_] | Bank as defined in Section 3(a)(6) of the Act; | |
| (c) | [_] | Insurance company as defined in Section 3(a)(19) of the Act; | |
| (d) | [_] | Investment company registered under Section 8 of the Investment Company Act of 1940; | |
| (e) | [X] | An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); | |
| (f) | [_] | An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); |
Page 4 of 7
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Page 5 of 7 SEC Filing
| (g) | [X] | A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); | |
| (h) | [_] | A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); | |
| (i) | [_] | A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940; | |
| (j) | [_] | A non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J); | |
| (k) | [_] | Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J), please specify the type of institution: _______ |
| Item 4. | Ownership |
| (a) | Amount Beneficially Owned: |
| See disclosure in Item 2 hereof. | |
| (b) | Percent of Class: |
| See Item 11 of each Reporting Persons respective cover | |
| (c) | Number of shares as to which such person |
| See Items 5-8 of each Reporting Persons respective cover |
| (i) | Sole power to vote or to direct the | |
| (ii) | Shared power to vote or to direct the | |
| (iii) | Sole power to dispose or to direct the disposition | |
| (iv) | Shared power to dispose or to direct the disposition |
| Item 5. | Ownership of Five Percent or Less of a Class. |
If this statement is being filed to
report the fact that as of the date hereof the reporting person has ceased to be
the beneficial owner of more than five percent of the class of securities, check
the following [ ].
| Item 6. | Ownership of more than Five Percent on Behalf of Another Person. |
See disclosure in Item 2 hereof. The
Funds are known to have the right to receive or the power to direct the receipt
of dividends from, or the proceeds from the sale of, certain of the Shares
covered by this Statement that may be deemed to be beneficially owned by the
Reporting Persons. Such interest of one of the Funds, Passport Global Master
Fund SPC Ltd for and on behalf of Portfolio A Global Strategy, relates to more
than 5% of the Shares.
| Item 7. | Identification and classification of the subsidiary which acquired the security being reported on by the parent holding company or control person. |
See disclosure in Item 2 hereof.
Page 5 of 7
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Page 6 of 7 SEC Filing
| Item 8. | Identification and classification of members of the group. |
Not Applicable.
| Item 9. | Notice of Dissolution of Group. |
Not Applicable.
| Item 10. | Certifications. |
By signing below I certify that, to
the best of my knowledge and belief, the securities referred to above were
acquired and are held in the ordinary course of business and were not acquired
and are not held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and were not acquired
and are not held in connection with or as a participant in any transaction
having that purpose or effect, other than activities solely in connection with a
nomination under §240.14a -11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated: March 10, 2016
| PASSPORT CAPITAL, LLC | |
| By: | /s/ JOHN H. BURBANK III |
| John H. Burbank III, | |
| Managing Member | |
| JOHN H. BURBANK III | |
| By: | /s/ JOHN H. BURBANK III |
Page 6 of 7
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Page 7 of 7 SEC Filing
Exhibit 1
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k) under the Securities Exchange
Act of 1934, as amended, the undersigned agree to the joint filing on behalf of
each of them the statement on Schedule 13G to which this agreement is attached
as an exhibit.
The undersigned further agree that each party hereto is
responsible for the timely filing of such Schedule 13G and any amendments
thereto, and for the completeness and accuracy of the information concerning
such party contained therein; provided, however, that no party is responsible
for the completeness or accuracy of the information concerning any other party
making the filing, unless such party knows or has reason to believe that such
information is inaccurate.
IN WITNESS WHEREOF, the parties have executed this Joint Filing
Agreement on March 10, 2016.
| PASSPORT CAPITAL, LLC | |
| By: | /s/ JOHN H. BURBANK III |
| John H. Burbank III, | |
| Managing Member | |
| JOHN H. BURBANK III | |
| By: | /s/ JOHN H. BURBANK III |
The original statement shall be signed by each person on whose
behalf the statement is filed or his authorized representative. If the statement
is signed on behalf of a person by his authorized representative (other than an
executive officer or general partner of this filing person), evidence of the
representative’s authority to sign on behalf of such person shall be filed with
the statement, provided, however, that a power of attorney for this purpose
which is already on file with the Commission may be incorporated by reference.
The name and any title of each person who signs the statement shall be typed or
printed beneath his signature.
Attention: Intentional
misstatements or omissions of fact constitute Federal criminal violations (See
18 U.S.C. 1001).
Page 7 of 7
