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Smart & Final Stores Inc. (SFS): Glenhill Advisors Increases its Stake

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A recent 13G filing with the US Securities and Exchange Commission showed that Glenn J. Krevlin‘s  Glenhill Advisors has raised its stake in Smart & Final Stores Inc. (NYSE:SFS) to 3.77 million common shares, which account for 5.1% of the float. Glenhill Advisors’ stake was increased from 3.35 million shares that it had reported as of the end of June in its last 13F filing.

Smart & Final is a food retailer that works in two divisions: Smart & Final and Cash & Carry. Since the beginning of the year, the company’s stock has lost 30.09%. In its latest financial report for the Second quarter of 2016, Smart & Final Stores reported revenue of $1.04 billion and earnings per share of $0.10, below the analysts’ estimates of both revenue of $1.05 billion and EPS of $0.21.

Glenn Krevlin

At the end of June, eight investors from our hedge fund database reported long positions in Smart & Final Stores (NYSE:SFS), down from 13 in the previous quarter. Some of the bullish investors encompassed Michael A. Price and Amos Meron’s Empyrean Capital Partners, with a position worth around $12.36 million, Ken Griffin’s Citadel Investment Group, which held a position valued at $9.06 million, John Tompkins’ Tyvor Capital, and Israel Englander’s Millennium Management.

Among those investors who lost enthusiasm for investing in Smart & Final Stores (NYSE:SFS), and sold off its shares during the quarter were George Soros’ Soros Fund Management, which dropped its position valued at the end of March at $9.41 million, Jim Simons’ Renaissance Technologies, which said goodbye to $2.10 million worth a position, Richard Driehaus’ Driehaus Capital, and Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital.

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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
Glenhill Advisors 2,797,145 968,162 3,765,307 0 3,765,307 5.1%
Glenn J. Krevlin 2,797,145 968,162 3,765,307 0 3,765,307 5.1%
Glenhill Capital Advisors 0 3,765,307 0 3,765,307 3,765,307 5.1%
Glenhill Capital Management 0 2,797,145 0 2,797,145 2,797,145 3.8%

Glenn J. Krevlin
Glenn J. Krevlin
Glenhill Advisors

Page 1 of 9 – SEC Filing

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No.         )*

 

 

 

SMART & FINAL STORES, INC.

(Name of Issuer)

Common
Stock, $0.001 par value

(Title of Class of Securities)

83190B101

(CUSIP Number)

August 31, 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:

¨ Rule
13d-1(b)

x 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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