Filing Details

Accession Number:
0001062993-17-001910
Form Type:
13D Filing
Publication Date:
2017-04-17 17:06:48
Filed By:
International Value Advisers
Company:
Adtalem Global Education Inc. (NYSE:ATGE)
Filing Date:
2017-04-17
SEC Url:
13D Filing
Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
International Value Advisers 3,357,491 3,357,491 5.3%
Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO § 240.13d -1(a) AND AMENDMENTS THERETO FILED PURSUANT TO § 240.13d -2(a)
(Amendment No. 10)*

DEVRY EDUCATION GROUP INC.
(Name of Issuer)

Common Stock, par value $0.01
(Title of Class of Securities)

251893103
(CUSIP Number)

Shanda Scibilia
International Value Advisers, LLC
717 Fifth Avenue, 10th Floor
New York, NY 10022
(212) 584-3570
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

April 11, 2017
(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 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 § 240.13d -7 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 with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

            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.)

CUSIP No. 251893103

1.

Names of Reporting Persons.

  

I.R.S. Identification Nos. of above persons (entities only).

   
  

International Value Advisers, LLC

2.

Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [   ]    (b) [   ]

   
3.

SEC Use Only

   
   
4.

Source of Funds

   
  

AF

5.

Check Box if Disclosure of Legal Proceeding is Required Pursuant to Items 2(d) or 2(e)
[   ]

   
6.

Citizenship or Place of Organization

   
  

Delaware, United States

  7. Sole Voting Power
     
Number of   0
Shares 8. Shared Voting Power
Beneficially    
owned by   3,115,289
Each 9. Sole Dispositive Power
Reporting     
Person   0
With: 10. Shared Dispositive Power
     
      3,357,491
11.

Aggregate Amount Beneficially Owned by Each Reporting Person

   
  

3,357,491

12.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

   
  

[   ]

13.

Percent of Class Represented by Amount in Row (11)
5.3%

   
14.

Type of Reporting Person (See Instructions)

   
  

IA


CUSIP No. 251893103

1.

Names of Reporting Persons.

   I. R.S. Identification Nos. of above persons (entities only).
   
   Charles de Vaulx
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [   ]     (b) [   ]
   
3. SEC Use Only
   
   
4. Source of Funds
   
   OO
5. Check Box if Disclosure of Legal Proceeding is Required Pursuant to Items 2(d) or 2(e)
[   ]
   
6. Citizenship or Place of Organization
   
   France
  7. Sole Voting Power
     
Number of   0
Shares 8. Shared Voting Power
Beneficially    
owned by   3,115,289
Each 9. Sole Dispositive Power
Reporting    
Person   0
With: 10.  Shared Dispositive Power
     
      3,357,491
11.

Aggregate Amount Beneficially Owned by Each Reporting Person

   
  

3,357,491

12.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

   
  

[   ]

13.

Percent of Class Represented by Amount in Row (11)
5.3%

   
14.

Type of Reporting Person (See Instructions)

   
  

IN


CUSIP No. 251893103

1. Names of Reporting Persons.
   I. R.S. Identification Nos. of above persons (entities only).
   
   Charles de Lardemelle
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [   ]     (b) [   ]
   
3. SEC Use Only
   
   
4. Source of Funds
   
   OO
5. Check Box if Disclosure of Legal Proceeding is Required Pursuant to Items 2(d) or 2(e)
[   ]
   
6. Citizenship or Place of Organization
   
   United States
  7. Sole Voting Power
     
Number of   0
Shares 8. Shared Voting Power
Beneficially    
owned by   0
Each 9. Sole Dispositive Power
Reporting    
Person    0
With: 10. Shared Dispositive Power
     
    3,357,491
11.

Aggregate Amount Beneficially Owned by Each Reporting Person

   
  

3,357,491

12.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

   
  

[   ]

13.

Percent of Class Represented by Amount in Row (11)
5.3%

   
14.

Type of Reporting Person (See Instructions)

   
  

IN


EXPLANATORY NOTE

This Amendment No. 10 to Schedule 13D (the Amendment) is being filed with respect to the Reporting Persons beneficial ownership in DeVry Education Group Inc. (DeVry or the Issuer). This amendment supplements the Schedule D as previously filed on June 22, 2016 (as amended, the Schedule 13D). Each Item below amends and supplements the information disclosed under the corresponding Item of the Schedule 13D. Unless otherwise indicated herein, capitalized terms used but not defined in this Amendment shall have the same meaning herein as are ascribed to such terms in Schedule 13D.

Item 2. Identity and Background

Item 2 a. is hereby amended and restated as follows:

The Shares reported herein are held by various separately managed account clients (the Managed Accounts) and certain funds (the Funds) under the management and control of International Value Advisers, LLC (IVA), a Delaware limited liability company and an investment adviser registered under the Investment Advisers Act of 1940. The Funds are the following: (i) IVA Worldwide Fund, an investment company registered under the Investment Company Act of 1940, as amended (WORLD); (ii) IVA Global Delaware Fund, L.P., a Delaware limited partnership (GLOBAL); and (iii) IVA Global SICAV, an investment company registered in the Grand Duchy of Luxembourg as an undertaking for collective investment in transferable securities (SICAV). IVA is also the managing partner of GLOBALs general partner. Charles de Vaulx and Charles (Chuck) de Lardemelle are portfolio managers (each a PM, and together, the PMs) for the Managed Accounts and Funds and, as such, have the authority to make decisions regarding disposition of all Shares. Charles de Vaulx also acts as Chief Investment Officer (the CIO) of IVA and has the authority to make decisions regarding voting of some of the Shares.

Item 5. Interest in Securities of the Issuer

Item 5 a. and b. is hereby amended and restated as follows:

The aggregate percentage of Share reportedly owned by each person named herein is based upon 62,885,000 Shares outstanding, as of January 26, 2017 and reported in the Issuers Form 10-Q filed on February, 2, 2017.

  1.

IVA

       
  a)

As of April 17, 2017, 3,357,491 Shares in aggregate were deemed to be beneficially owned by IVA, as the investment manager to i) WORLD which owns 2,031,973 Shares constituting 3.2% of the Issuers outstanding Shares, ii) GLOBAL which owns 160,900 Shares constituting 0.3% of the Issuers outstanding Shares, iii) SICAV which owns 239,068 Shares constituting 0.4% of the Issuers outstanding Shares, and iv) the Managed Accounts which own 925,550 Shares constituting 1.5% of the Issuers outstanding Shares.

       
 

Percentage: 5.3%

       
  b)

Sole power to vote or direct the vote: 0

 

Shared power to vote or direct the vote: 3,115,289
Sole power to dispose or direct the disposition: 0
Shared power to dispose or direct the disposition: 3,357,491


  2.

Charles de Vaulx

       
  a)

Mr. De Vaulx, as the CIO and managing member of IVA, may be deemed the beneficial owner of 3,357,491 Shares owned by the Funds and the Managed Accounts.

       
 

Percentage: 5.3%

       
  b)

Sole power to vote or direct the vote: 0


Shared power to vote or direct the vote: 3,115,289
Sole power to dispose or direct the disposition: 0
Shared power to dispose or direct the disposition: 3,357,491

  3.

Chuck de Lardemelle

       
  a)

Mr. de Lardemelle, as a PM and managing member of IVA, may be deemed the beneficial owner of 3,357,491 Shares owned by the Funds and the Managed Accounts.

       
 

Percentage: 5.3%

       
  b)

Sole power to vote or direct the vote: 0
Shared power to vote or direct the vote: 0
Sole power to dispose or direct the disposition: 0

 

Shared power to dispose or direct the disposition: 3,115,289

As of April 17, 2017, the Reporting Persons collectively beneficially owned an aggregate of 3,357,491 Shares, constituting 5.3% of the Issuers outstanding Shares.

Each Reporting Person, as a member of a group with the other Reporting Persons, may be deemed beneficial owner of the Shares directly owned by the other Reporting Persons. Each Reporting Person disclaims beneficial ownership of such Shares except to the extent of his or its pecuniary interest therein.

Item 7. Material to be Filed as Exhibits

Exhibit A Transactions in Shares that were effected by IVA during the last sixty days.

SIGNATURE

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

Dated: April 17, 2017

International Value Advisers, LLC

  By: /s/ Michael W. Malafronte
  Name: Michael W. Malafronte
  Title: Managing Partner

 

  Charles de Vaulx
   
   
  /s/ Charles de Vaulx
   
   
  Charles de Lardemelle
   
   
  /s/ Charles de Lardemelle

EXHIBIT INDEX

Exhibit A

Transactions in Shares that were effected by IVA during the last sixty days

   
Exhibit B

Joint Filing Agreement*

   
Exhibit C

Support Agreement, dated June 29, 2016 by and among DeVry Education Group, Inc., International Value Advisers, LLC (IVA), and Michael Malafronte*

   
Exhibit D

Letter Agreement, dated December 9, 2016, by and among DeVry Education Group, Inc., International Value Advisers, LLC (IVA), and Michael Malafronte*

*Previously Filed

Exhibit A

TRANSACTIONS SINCE THE MOST RECENT FILING

The Reporting Persons engaged in the following transactions in shares of Common Stock of the Issuer during the last sixty days:

    Transaction Type    
Account Date of Transaction (Purchase or Sale) Shares Price
SICAV 3/15/2017 Sale 12,399 $33.72
Managed Accounts 3/15/2017 Sale 4,643 $33.72
Managed Accounts 3/21/2017 Sale 8,878 $33.28
GLOBAL 4/6/2017 Sale 3,573 $35.81
WORLD 4/6/2017 Sale 65,518 $35.81
SICAV 4/6/2017 Sale 6,700 $35.81
Managed Accounts 4/6/2017 Sale 27,333 $35.81
GLOBAL 4/7/2017 Sale 911 $35.87
WORLD 4/7/2017 Sale 16,709 $35.87
SICAV 4/7/2017 Sale 1,709 $35.87
Managed Accounts 4/7/2017 Sale 6,971 $35.87
GLOBAL 4/7/2017 Sale 554 $35.79
WORLD 4/7/2017 Sale 10,165 $35.79
SICAV 4/7/2017 Sale 1,040 $35.79
Managed Accounts 4/7/2017 Sale 4,241 $35.79
GLOBAL 4/10/2017 Sale 108 $35.77
WORLD 4/10/2017 Sale 1,978 $35.77
SICAV 4/10/2017 Sale 202 $35.77
Managed Accounts 4/10/2017 Sale 826 $35.77
GLOBAL 4/11/2017 Sale 17,535 $35.84
WORLD 4/11/2017 Sale 321,532 $35.84
SICAV 4/11/2017 Sale 32,880 $35.84
Managed Accounts 4/11/2017 Sale 134,139 $35.84