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SC 13D Filing
Five Point (FPH) SC 13DFive Point / ROBOTTI ROBERT ownership change
Filed: 27 Sep 24, 9:19am
Five Point Holdings, LLC |
(Name of Issuer) |
Class A Common Shares |
(Title of Class of Securities) |
33833Q106 | ||
(CUSIP Number) |
212-986-4800 |
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) |
September 24, 2024 |
(Date of Event Which Requires Filing of This Statement) |
SCHEDULE 13D | |
CUSIP No. 33833Q106 | Page 2 of 16 Pages |
1 | NAMES OF REPORTING PERSONS | ||||
Robert E. Robotti | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) | ☐ | ||
(b) | ☒ | ||||
3 | SEC USE ONLY | ||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS) | ||||
AF, OO | |||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E) | ☐ | |||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||
United States | |||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER | |||
-0- | |||||
8 | SHARED VOTING POWER | ||||
6,702,047 | |||||
9 | SOLE DISPOSITIVE POWER | ||||
-0- | |||||
10 | SHARED DISPOSITIVE POWER | ||||
6,702,047 | |||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||
6,702,047 | |||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | ☐ | |||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||
9.7% | |||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | ||||
IN, HC | |||||
SCHEDULE 13D | |
CUSIP No. 33833Q106 | Page 3 of 16 Pages |
1 | NAMES OF REPORTING PERSONS | ||||
Robotti & Company, Incorporated | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) | ☐ | ||
(b) | ☒ | ||||
3 | SEC USE ONLY | ||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS) | ||||
OO | |||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E) | ☐ | |||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||
New York | |||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER | |||
-0- | |||||
8 | SHARED VOTING POWER | ||||
6,702,047 | |||||
9 | SOLE DISPOSITIVE POWER | ||||
-0- | |||||
10 | SHARED DISPOSITIVE POWER | ||||
6,702,047 | |||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||
6,702,047 | |||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | ☐ | |||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||
9.7% | |||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | ||||
CO, HC | |||||
SCHEDULE 13D | |
CUSIP No. 33833Q106 | Page 4 of 16 Pages |
1 | NAMES OF REPORTING PERSONS | ||||
Robotti & Company Advisors, LLC | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) | ☐ | ||
(b) | ☒ | ||||
3 | SEC USE ONLY | ||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS) | ||||
OO | |||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E) | ☐ | |||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||
New York | |||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER | |||
-0- | |||||
8 | SHARED VOTING POWER | ||||
6,702,047 | |||||
9 | SOLE DISPOSITIVE POWER | ||||
-0- | |||||
10 | SHARED DISPOSITIVE POWER | ||||
6,702,047 | |||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||
6,702,047 | |||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | ☐ | |||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||
9.7% | |||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | ||||
OO, IA | |||||
SCHEDULE 13D | |
CUSIP No. 33833Q106 | Page 5 of 16 Pages |
1 | NAMES OF REPORTING PERSONS | ||||
Suzanne Robotti | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) | ☐ | ||
(b) | ☒ | ||||
3 | SEC USE ONLY | ||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS) | ||||
PF | |||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E) | ☐ | |||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||
United States | |||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER | |||
2,000 | |||||
8 | SHARED VOTING POWER | ||||
-0- | |||||
9 | SOLE DISPOSITIVE POWER | ||||
2,000 | |||||
10 | SHARED DISPOSITIVE POWER | ||||
-0- | |||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||
2,000 | |||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | ☐ | |||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||
Less than 1% | |||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | ||||
IN, HC | |||||
SCHEDULE 13D | |
CUSIP No. 33833Q106 | Page 6 of 16 Pages |
1 | NAMES OF REPORTING PERSONS | ||||
Ravenswood Management Company, LLC | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) | ☐ | ||
(b) | ☒ | ||||
3 | SEC USE ONLY | ||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS) | ||||
AF | |||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E) | ☐ | |||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||
New York | |||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER | |||
-0- | |||||
8 | SHARED VOTING POWER | ||||
6,690,000 | |||||
9 | SOLE DISPOSITIVE POWER | ||||
-0- | |||||
10 | SHARED DISPOSITIVE POWER | ||||
6,690,000 | |||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||
6,690,000 | |||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | ☐ | |||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||
9.7% | |||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | ||||
OO | |||||
SCHEDULE 13D | |
CUSIP No. 33833Q106 | Page 7 of 16 Pages |
1 | NAMES OF REPORTING PERSONS | ||||
The Ravenswood Investment Company L.P. | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) | ☐ | ||
(b) | ☒ | ||||
3 | SEC USE ONLY | ||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS) | ||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E) | ☐ | |||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||
Delaware | |||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER | |||
-0- | |||||
8 | SHARED VOTING POWER | ||||
4,014,000 | |||||
9 | SOLE DISPOSITIVE POWER | ||||
-0- | |||||
10 | SHARED DISPOSITIVE POWER | ||||
4,014,000 | |||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||
4,014,000 | |||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | ☐ | |||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||
5.8% | |||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | ||||
OO | |||||
SCHEDULE 13D | |
CUSIP No. 33833Q106 | Page 8 of 16 Pages |
1 | NAMES OF REPORTING PERSONS | ||||
Ravenswood Investments III, L.P. | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) | ☐ | ||
(b) | ☒ | ||||
3 | SEC USE ONLY | ||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS) | ||||
WC | |||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E) | ☐ | |||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||
New York | |||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER | |||
-0- | |||||
8 | SHARED VOTING POWER | ||||
2,676,000 | |||||
9 | SOLE DISPOSITIVE POWER | ||||
-0- | |||||
10 | SHARED DISPOSITIVE POWER | ||||
2,676,000 | |||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||
2,676,000 | |||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | ☐ | |||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||
3.9% | |||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | ||||
OO | |||||
SCHEDULE 13D | |
CUSIP No. 33833Q106 | Page 9 of 16 Pages |
Item 1. | Security and Issuer |
Item 2. | Identity and Background |
Item 3. | Source and Amount of Funds or Other Consideration |
SCHEDULE 13D | |
CUSIP No. 33833Q106 | Page 10 of 16 Pages |
Item 4. | Purpose of Transaction |
Item 5. | Interest in Securities of the Issuer |
Reporting Person | Aggregate Number of Shares | Number of Shares: Sole Power to Vote or Dispose | Number of Shares: Shared Power to Vote or Dispose | Approximate Percentage* |
Robotti (1)(2)(4)(5) | 6,702,047 | 0 | 6,702,047 | 9.66% |
ROBT (1)(2)(4)(5) | 6,702,047 | 0 | 6,702,047 | 9.66% |
Robotti Advisors (1)(2)(4)(5) | 6,702,047 | 0 | 6,702,047 | 9.66% |
Suzanne Robotti (1)(3) | 0 | 2,000 | 0 | ** |
RMC (1)(4)(5) | 6,690,000 | 0 | 6,690,000 | 9.65% |
RIC (1)(4) | 4,014,000 | 0 | 4,014,000 | 5.79% |
RI (1)(5) | 2,676,000 | 0 | 2,676,000 | 3.86% |
SCHEDULE 13D | |
CUSIP No. 33833Q106 | Page 11 of 16 Pages |
Transactions in Shares |
Party | Date of Purchase/ Sale | Number of Class A Shares | Buy/ Sell | Weighted Average Price* | Price Range | ||||||||
RIC | 9/4/2024 | 7,210 | Buy | $ | 3.2934 | $ | 3.22 – 3.305 | ||||||
RI | 9/4/2024 | 4,806 | Buy | $ | 3.2934 | $ | 3.22 – 3.305 | ||||||
RIC | 9/5/2024 | 11,167 | Buy | $ | 3.3048 | $ | 3.285 – 3.33 | ||||||
RI | 9/5/2024 | 7,445 | Buy | $ | 3.3048 | $ | 3.285 – 3.33 | ||||||
RIC | 9/6/2024 | 5,897 | Buy | $ | 3.3013 | $ | 3.26 – 3.32 | ||||||
RI | 9/6/2024 | 3,932 | Buy | $ | 3.3013 | $ | 3.26 – 3.32 | ||||||
RIC | 9/9/2024 | 20,631 | Buy | $ | 3.2669 | $ | 3.23 – 3.285 | ||||||
RI | 9/9/2024 | 13,754 | Buy | $ | 3.2669 | $ | 3.23 – 3.285 | ||||||
RIC | 9/10/2024 | 15,095 | Buy | $ | 3.2822 | $ | 3.255 – 3.295 | ||||||
RI | 9/10/2024 | 10,063 | Buy | $ | 3.2822 | $ | 3.255 – 3.295 | ||||||
RIC | 9/19/2024 | 36,000 | Buy | $ | 3.392 | $ | 3.3659 – 3.42 | ||||||
RI | 9/19/2024 | 24,000 | Buy | $ | 3.392 | $ | 3.3659 – 3.42 | ||||||
RIC | 9/24/2024 | 3,768,000 | Buy | $ | 3.13 | $ | 3.13 | ||||||
RI | 9/24/2024 | 2,512,000 | Buy | $ | 3.13 | $ | 3.13 |
SCHEDULE 13D | |
CUSIP No. 33833Q106 | Page 12 of 16 Pages |
Item 6. | Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer |
Item 7. | Material to be Filed as Exhibits |
1. | Joint Filing Agreement dated as of September 26, 2024 by and among Robert E. Robotti, Robotti & Company, Incorporated, Robotti & Company Advisors, LLC, Suzanne Robotti, Ravenswood Management Company, LLC, The Ravenswood Investment Company L.P., and Ravenswood Investments III, L.P. |
SCHEDULE 13D | |
CUSIP No. 33833Q106 | Page 13 of 16 Pages |
Date: | September 26, 2024 |
/s/ Robert E. Robotti | Robotti & Company, Incorporated | ||
Robert E. Robotti | |||
/s/ Suzanne Robotti | By: | /s/ Robert E. Robotti | |
Suzanne Robotti | Name: Robert E. Robotti | ||
Title: President and Treasurer | |||
Robotti & Company Advisors, LLC | Ravenswood Management Company, LLC | |||
By: | /s/ Robert E. Robotti | By: | /s/ Robert E. Robotti | |
Name: Robert E. Robotti | Name: Robert E. Robotti | |||
Title: President and Treasurer | Title: Managing Director | |||
The Ravenswood Investment Company, L.P. | Ravenswood Investments III, L.P. | |||
By: | Ravenswood Management Company, LLC | By: | Ravenswood Management Company, LLC | |
Its General Partner | Its General Partner | |||
By: | /s/ Robert E. Robotti | By: | /s/ Robert E. Robotti | |
Name: Robert E. Robotti | Name: Robert E. Robotti | |||
Title: Managing Director | Title: Managing Director |
SCHEDULE 13D | |
CUSIP No. 33833Q106 | Page 14 of 16 Pages |
Name: | Robert E. Robotti |
(Director, President, Treasurer) | |
Citizenship | U.S.A. |
Principal Occupation: | President and Treasurer, Robotti & Company, Incorporated |
Business Address: | 125 Park Avenue, Suite 1607, New York, New York 10017 |
Name: | Nancy Seklir |
(Director) | |
Citizenship: | U.S.A. |
Principal Occupation: | Retired |
Business Address: | c/o Robotti & Company, Incorporated 125 Park Avenue, Suite 1607, New York, New York 10017 |
Name: | Kenneth R. Wasiak |
(Director) | |
Citizenship | U.S.A. |
Principal Occupation: | Retired |
Business Address: | 104 Gloucester Road, Massapequa, New York 11758 |
Name: | Suzanne Robotti |
(Director) | |
Citizenship | U.S.A. |
Principal Occupation: | Founder, Medshadow Foundation |
Business Address: | 125 Park Avenue, Suite 1607, New York, New York 10017 |
Name: | Erwin Mevorah |
(Vice President, Secretary) | |
Citizenship | U.S.A. |
Principal Occupation: | Vice President and Secretary, Robotti & Company, Incorporated |
Business Address: | 125 Park Avenue, Suite 1607, New York, New York 10017 |
SCHEDULE 13D | |
CUSIP No. 33833Q106 | Page 15 of 16 Pages |
Exhibit | Page | |
Joint Filing Agreement dated as of September 26, 2024 by and among Robert E. Robotti, Robotti & Company, Incorporated, Robotti & Company Advisors, LLC, Suzanne Robotti, Ravenswood Management Company, LLC, The Ravenswood Investment Company L.P., and Ravenswood Investments III, L.P. | 16 |
SCHEDULE 13D | |
CUSIP No. 33833Q106 | Page 16 of 16 Pages |
/s/ Robert E. Robotti | Robotti & Company, Incorporated | ||
Robert E. Robotti | |||
/s/ Suzanne Robotti | By: | /s/ Robert E. Robotti | |
Suzanne Robotti | Name: Robert E. Robotti | ||
Title: President and Treasurer | |||
Robotti & Company Advisors, LLC | Ravenswood Management Company, LLC | |||
By: | /s/ Robert E. Robotti | By: | /s/ Robert E. Robotti | |
Name: Robert E. Robotti | Name: Robert E. Robotti | |||
Title: President and Treasurer | Title: Managing Director | |||
The Ravenswood Investment Company, L.P. | Ravenswood Investments III, L.P. | |||
By: | Ravenswood Management Company, LLC | By: | Ravenswood Management Company, LLC | |
Its General Partner | Its General Partner | |||
By: | /s/ Robert E. Robotti | By: | /s/ Robert E. Robotti | |
Name: Robert E. Robotti | Name: Robert E. Robotti | |||
Title: Managing Director | Title: Managing Director |