In our quarterly newsletter we provide the list of high conviction stock picks of value hedge funds. Nexeo Solutions Inc. (NASDAQ:NXEO) is one of the stocks we listed a month ago. Steven Romick’s First Pacific Advisors owns 28.5% of Nexeo Solutions Inc. (NXEO)’s outstanding shares. Another hedge fund that was disproportionately invested in the stock was Park West Asset Management which owned 5.2% of the firm’s outstanding shares.
Nexeo Solutions Inc shares returned 20% over the last month. Most of the gains accrued after Univar Inc. announced its intention to Nexeo Solutionsfor $2 billion ($11.65 a share). Nexeo was previously bought by a company controlled by Wilbur Ross. Here is what Univar’s CEO said about this week’s deal:
“We expect the transaction to be accretive to earnings and cash flow beginning in the first full year post closing and to generate $100 million of annual run rate cost savings by the third year following close and reduce annual capital expenditures by $15 million immediately,”
The deal is expected to close in the first half of 2019. First Pacific Advisors made about $50 million in profits over the last month.
You can check out the details of FPA’s latest 13D filing below:
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| First Pacific Advisors | 0 | 25,618,557 | 0 | 25,618,557 | 25,618,557 | 28.5% |
| FPA Crescent Fund, a series of FPA Funds Trust | 0 | 21,605,125 | 0 | 21,605,125 | 21,605,125 | 24.1% |
| FPA Global Opportunity Fund, a series of FPA Hawkeye Fund | 0 | 816,923 | 0 | 816,923 | 816,923 | 0.9% |
| FPA Select Drawdown Fund | 0 | 1,775,556 | 0 | 1,775,556 | 1,775,556 | 2.0% |
| FPA Select Fund | 0 | 148,987 | 0 | 148,987 | 148,987 | 0.2% |
| FPA Value Partners Fund, a series of FPA Hawkeye Fund | 0 | 280,167 | 0 | 280,167 | 280,167 | 0.3% |
| FPA Select Maple Fund | 0 | 182,067 | 0 | 182,067 | 182,067 | 0.2% |
| FPA Select Fund II | 0 | 163,339 | 0 | 163,339 | 163,339 | 0.2% |
| J. Richard Atwood | 0 | 25,618,557 | 0 | 25,618,557 | 25,618,557 | 28.5% |
| Steven T. Romick | 0 | 25,618,557 | 0 | 25,618,557 | 25,618,557 | 28.5% |
| Brian A. Selmo | 0 | 25,618,557 | 0 | 25,618,557 | 25,618,557 | 28.5% |
| Mark Landecker | 0 | 25,618,557 | 0 | 25,618,557 | 25,618,557 | 28.5% |
Follow Robert Rodriguez And Steven Romick's First Pacific Advisors LLC
Page 1 of 19 – SEC Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 3)*
NEXEO
SOLUTIONS, INC.
(Name of Issuer)
Common Stock, par value $0.0001 per share
(Title and Class of Securities)
65342H102
(CUSIP Number)
J. Richard Atwood
First Pacific Advisors, LLC
11601 Wilshire Blvd.
Suite 1200
Los Angeles,
CA 90025
(310) 473-0225
with a copy to:
Douglas A. Rappaport, Esq.
Akin Gump Strauss Hauer & Feld LLP
One Bryant Park
New
York, NY 10036
(212) 872-1000
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
September 17, 2018
(Date of Event Which Requires Filing of 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 Rule 13d-1(e), Rule
13d-1(f) or Rule 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 13d-7(b) for other parties to whom copies are to be sent.
| * | The remainder of this cover page shall be filled out for a reporting persons initial filing on this form |
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)
