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13D Filing: Farnam Street Partners and HCI Group Inc. (NYSE:HCI)

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
Farnam Street Partners 0 241,368 0 241,368 241,368 2.35%
FS Special Opportunities I 0 126,375 0 126,375 126,375 1.2%
FS Special Opportunities II 0 132,634 0 132,634 132,634 1.3%
Farnam Street Capital, Inc 0 500,377 0 500,377 500,377 4.9%
Raymond E. Cabillot 3,000 500,377 3,000 500,377 503,377 4.9%
Peter O. Haeg 0 500,377 0 500,377 500,377 4.9%

Page 1 of 11 – SEC Filing

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

SCHEDULE 13D

Under the Securities Exchange Act of
1934

(Amendment No.  1 )*

HCI GROUP, INC. 

(Name of Issuer)

Common Stock, no
par value

(Title of Class of Securities)

40416E103

(CUSIP Number)

Farnam Street Partners, L.P.

FS Special Opportunities Fund I, L.P.

FS Special Opportunities Fund II, L.P.

3033 Excelsior Boulevard, Suite 320

Minneapolis, MN 55426

Phone: (612) 353-6707

With a copy to:

Martin R. Rosenbaum, Esq.

Maslon LLP

3300 Wells Fargo Center

90 South Seventh Street

Minneapolis, MN 55402-4140

Phone: (612) 672-8200

(Name, Address
and Telephone Number of Persons Authorized to Receive Notices and Communications)

April 10, 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 §§240.13d-1(e),
240.13d-1(f) or 240.13d-1(g), check the following box   ¨.

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Page 2 of 11 – SEC Filing

CUSIP No. 40416E103

1

NAME OF REPORTING PERSONS

Farnam Street Partners, L.P.

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a)T

(b)
¨

3

SEC USE ONLY

4

SOURCE OF FUNDS (SEE INSTRUCTIONS)

OO (Investment proceeds)

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)

 ¨

6

CITIZENSHIP OR PLACE OF ORGANIZATION

Minnesota

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

7

SOLE VOTING POWER

0

8

SHARED VOTING POWER

241,368

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

241,368

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

241,368

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS)

 ☐

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

2.35%

14

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

PN

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Page 3 of 11 – SEC Filing

CUSIP No. 40416E103

1

NAME OF REPORTING PERSONS

FS Special Opportunities I, L.P.

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE
INSTRUCTIONS)

(a)T

(b)
¨

3

SEC USE ONLY

4

SOURCE OF FUNDS (SEE INSTRUCTIONS)

OO (Investment proceeds)

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e)

¨

6

CITIZENSHIP OR PLACE OF ORGANIZATION

Minnesota

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

7

SOLE VOTING POWER

0

8

SHARED VOTING POWER

126,375

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

126,375

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

126,375

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS)

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

1.2%

14

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

PN

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Page 4 of 11 – SEC Filing

CUSIP No. 40416E103

1

NAME OF REPORTING PERSONS

FS Special Opportunities II, L.P.

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE
INSTRUCTIONS)

(a)T

(b)
¨

3

SEC USE ONLY

4

SOURCE OF FUNDS (SEE INSTRUCTIONS)

OO (Investment proceeds)

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e)

¨

6

CITIZENSHIP OR PLACE OF ORGANIZATION

Minnesota

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

7

SOLE VOTING POWER

0

8

SHARED VOTING POWER

132,634

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

132,634

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

132,634

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS)

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

1.3%

14

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

PN

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Page 5 of 11 – SEC Filing

CUSIP No. 40416E103

1

NAME OF REPORTING PERSONS

Farnam Street Capital, Inc.

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE
INSTRUCTIONS)

(a)
T

(b)
¨

3

SEC USE ONLY

 

4

SOURCE OF FUNDS (SEE INSTRUCTIONS)

OO (Investment proceeds)

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e)

¨

6

CITIZENSHIP OR PLACE OF ORGANIZATION

Minnesota

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

7

SOLE VOTING POWER

0

8

SHARED VOTING POWER

500,377

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

500,377

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

500,377

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS)

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

4.9%

14

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

CO

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Page 6 of 11 – SEC Filing

CUSIP No. 40416E103

1

NAME OF REPORTING PERSONS

Raymond E. Cabillot

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE
INSTRUCTIONS)

(a)
¨

(b)
o

3

SEC USE ONLY

 

4

SOURCE OF FUNDS (SEE INSTRUCTIONS)

OO (Investment proceeds), PF

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 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

3,000

8

SHARED VOTING POWER

500,377

9

SOLE DISPOSITIVE POWER

3,000

10

SHARED DISPOSITIVE POWER

500,377

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

503,377

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS)

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

4.9%

14

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

IN

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Page 7 of 11 – SEC Filing

CUSIP No. 40416E103

1

NAME OF REPORTING PERSONS

Peter O. Haeg

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE
INSTRUCTIONS)

(a)
¨

(b)
o

3

SEC USE ONLY

 

4

SOURCE OF FUNDS (SEE INSTRUCTIONS)

OO (Investment proceeds)

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 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

500,377

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

500,377

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

500,377

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS)

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

4.9%

14

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

IN

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Page 8 of 11 – SEC Filing

CUSIP No. 40416E103

Explanatory
Note

This Final Amendment
to Schedule 13D amends and supplements the statement on Schedule 13D filed on August 9, 2016 (the “Original 13D”)
by the reporting persons. This Final Amendment to Schedule 13D is being filed to report that as of April 10, 2017, none of
the reporting persons, individually or in the aggregate, is a beneficial owner of more than 5% of the Common Stock of HCI Group,
Inc., a Florida corporation (the “Issuer” or the “Company”). Set forth below are items that are changed
from the Original 13D.

Item 5. Interests in Securities of the Issuer.

(a) Farnam Fund beneficially owns 241,368
shares of the outstanding Common Stock of the Issuer, representing approximately 2.35% of the Common Stock. FS I Fund beneficially
owns 126,375 shares of the outstanding Common Stock of the Issuer, representing approximately 1.2% of the Common Stock. FS II Fund
beneficially owns 132,634 shares of the outstanding Common Stock of the Issuer, representing approximately 1.3% of the Common Stock.
Mr. Cabillot beneficially owns 3,000 shares (held in an IRA account) of the outstanding Common Stock of the Issuer, representing
less than 1% of the Common Stock. (All percentages are based upon 10,282,438 shares outstanding, as reported in the Issuer’s Form
10-K for the fiscal year ended December 31, 2016).

(b) The Funds do not share
voting and dispositive power with respect to any shares. Farnam Capital may be deemed to beneficially own the aggregate of 500,377
shares of the outstanding Common Stock of the Issuer held by the Funds by virtue of its right to vote and dispositive power, representing
approximately 4.9% of the Common Stock.

Mr. Cabillot and Mr. Haeg share voting and
dispositive power of the Common Stock beneficially owned by the Funds by virtue of each entity’s and person’s relationship
to the other as described in Item 2(a).

(c) The following sales have occurred
in the past 60 days:

Farnam Street Partners, LP

Date No. of Shares Price per share*
2/10/2017 1,000 $43.83
2/13/2017 4,571 $44.5006
2/14/2017 2,000 $44.725
2/22/2017 3,000 $46.4167
3/01/2017 937 $50.01
4/10/2017 3,422 $45.4188

FS Special Opportunities I, L.P.

Date No. of Shares Price per share*
4/10/2017 4,000 $45.4188

FS Special Opportunities II, L.P.

Date No. of Shares Price per share*
4/10/2017 4,000 $45.4188

*Price per share may be a weighted average price.
Actual purchases may have been made in smaller lots at differing prices.

All sales were open market sales.

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Page 9 of 11 – SEC Filing

Item 7. Material to be Filed as Exhibits.
Exhibit No. Description
1 Agreement to file jointly. (Incorporated herein by reference to Exhibit 1 filed with the Reporting Persons’ Schedule 13D filed on August 9, 2016.)

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Page 10 of 11 – SEC Filing

SIGNATURES

After reasonable inquiry and to the best
of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date:         April 11, 2017

FARNAM STREET PARTNERS, L.P.

By:           FARNAM
STREET CAPITAL, INC.

General Partner

By: /s/ Raymond E. Cabillot
Raymond E. Cabillot
Chief Executive Officer

FS SPECIAL OPPORTUNITIES FUND I, L.P.

By:            FARNAM STREET CAPITAL, INC.

General Partner

By: /s/ Raymond E. Cabillot
Raymond E. Cabillot
Chief Executive Officer

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Page 11 of 11 – SEC Filing

FS SPECIAL OPPORTUNITIES FUND II, L.P.

By:            FARNAM STREET CAPITAL, INC.

General Partner

By: /s/ Raymond E. Cabillot
Raymond E. Cabillot
Chief Executive Officer

FARNAM STREET CAPITAL, INC.

By: /s/ Raymond E. Cabillot
Raymond E. Cabillot
Chief Executive Officer
By: /s/ Raymond E. Cabillot
Raymond E. Cabillot
By: /s/ Peter O. Haeg
Peter O. Haeg
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