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13G Filing: Nantahala Capital Management and Scientific Games Corp (SGMS)

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In a recent filing with the Securities and Exchange Commission, Wilmot B. Harkey and Daniel Mack‘s Nantahala Capital Management disclosed its stake in Scientific Games Corp (NASDAQ:SGMS). According to the 13G filing, Nantahala owns 8.18 million shares of Scientific Games, which represent 9% of the company’s outstanding stock. In its latest 13F filing, Nantahala held 3.36 million shares of Scientific Games, as well as ‘Call’ options underlying 4.95 million shares.

Among the funds we track, heading into 2016, a total of 25 of the hedge funds tracked by Insider Monkey held long positions in Scientific Games, a decline of 14% from the third quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists a select group of notable hedge fund managers who were boosting their stakes substantially (or already accumulated large positions). Debra Fine’s Fine Capital Partners has the number one position in Scientific Games Corp (NASDAQ:SGMS), worth close to $75 million, comprising 8.5% of its total 13F portfolio as of the end of last year. Other members of the smart money with similar optimism comprise Mark Cohen’s Stone House Capital, Paul Reeder and Edward Shapiro’s PAR Capital Management and Adam Wolfberg and Steven Landry’s EastBay Asset Management.

Seeing as Scientific Games Corp (NASDAQ:SGMS) has faced declining sentiment from the smart money, logic holds that there is a sect of hedge funds that slashed their positions entirely in the fourth quarter. Vadim Perelman’s Baker Street Capital cut the largest investment of the 700 funds followed by Insider Monkey, worth an estimated $52.3 million in stock. Don Morgan’s fund, Brigade Capital, also dropped its stock, about $14.9 million worth. Overall, total hedge fund interest fell by 4 funds in the last three months of 2015.

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
Nantahala Capital Management 0 8,184,101 0 8,184,101 8,184,101 9.0%
Wilmot B. Harkey( 0 8,184,101 0 8,184,101 8,184,101 9.0%
Daniel Mack( 0 8,184,101 0 8,184,101 8,184,101 9.0%
Wilmot B. Harkey And Daniel Mack
Wilmot B. Harkey And Daniel Mack
Nantahala Capital Management

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. 1)*

SCIENTIFIC GAMES
CORPORATION

(Name of Issuer)

Class A common
stock, par value $0.01 per share

(Title of Class of
Securities)

80874P109

(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 person’s 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 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).

Continued on following pages

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