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13D Filing: Greenlight Capital and CNX Coal Resources LP (CNXC)

CNX Coal Resources LP (NYSE:CNXC): David Einhorn’s Greenlight Capital filed an amended 13D.

You can check out Greenlight Capital’s latest holdings and filings here.

Please follow Greenlight Capital (if you aren’t already doing so) to get real-time email alerts whenever we publish an article about Greenlight Capital or update its stock holdings.

David Einhorn
David Einhorn
Greenlight Capital

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
Greenlight Capital, Inc 0 3,248,638 0 3,248,638 3,248,638 20.7%
DME Advisors GP 0 2,239,800 0 2,239,800 2,239,800 14.3%
DME Advisors 0 719,300 0 719,300 719,300 4.6%
DME Capital Management 0 1,520,500 0 1,520,500 1,520,500 9.7%
David Einhorn 0 5,488,438 0 5,488,438 5,488,438 35.0%
David Einhorn
David Einhorn
Greenlight Capital

Page 1 of 8 – SEC Filing


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
CNX Coal Resources LP
(Name of Issuer)
Common Units
 (Title of Class of Securities)
12592V100
(CUSIP Number)
Greenlight Capital, Inc.
140 East 45th Street, Floor 24
New York, New York 10017
Tel. No.: (212) 973-1900
Attention: Chief Operating Officer
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
– with copies to –
Barry N. Hurwitz
Morgan, Lewis & Bockius LLP
One Federal Street
Boston, MA 02110
(617) 951-8000
October 3, 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. o
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 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 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 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).

 

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Page 2 of 8 – SEC Filing

 

1
Names of Reporting Persons.
Greenlight Capital, Inc.
2
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)           [ ]
(b)           [ ]
3
SEC Use Only
4
Source of Funds (See Instructions):
AF, WC
5
Check if disclosure of legal proceedings is required pursuant to Items 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
3,248,638
9            Sole Dispositive Power
0
10           Shared Dispositive Power
3,248,638
11
Aggregate Amount Beneficially Owned by Each Reporting Person
3,248,638
12
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)     [ ]
13
Percent of Class Represented by Amount in Row (11)
20.7%
14
Type of Reporting Person (See Instructions)
CO

 

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Page 3 of 8 – SEC Filing

 

1
Names of Reporting Persons.
DME Advisors GP, LLC
2
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)           [ ]
(b)           [ ]
3
SEC Use Only
4
Source of Funds (See Instructions):
AF, WC
5
Check if disclosure of legal proceedings is required pursuant to Items 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
2,239,800
9            Sole Dispositive Power
0
10           Shared Dispositive Power
2,239,800
11
Aggregate Amount Beneficially Owned by Each Reporting Person
2,239,800
12
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)     [ ]
13
Percent of Class Represented by Amount in Row (11)
14.3%
14
Type of Reporting Person (See Instructions)
OO

 

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Page 4 of 8 – SEC Filing

 

1
Names of Reporting Persons.
DME Advisors, L.P.
2
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)           [ ]
(b)           [ ]
3
SEC Use Only
4
Source of Funds (See Instructions):
AF, WC
5
Check if disclosure of legal proceedings is required pursuant to Items 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
719,300
9            Sole Dispositive Power
0
10           Shared Dispositive Power
719,300
11
Aggregate Amount Beneficially Owned by Each Reporting Person
719,300
12
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)     [ ]
13
Percent of Class Represented by Amount in Row (11)
4.6%
14
Type of Reporting Person (See Instructions)
PN

 

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Page 5 of 8 – SEC Filing

 

1
Names of Reporting Persons.
DME Capital Management, LP
2
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)           [ ]
(b)           [ ]
3
SEC Use Only
4
Source of Funds (See Instructions):
AF, WC
5
Check if disclosure of legal proceedings is required pursuant to Items 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
1,520,500
9            Sole Dispositive Power
0
10           Shared Dispositive Power
1,520,500
11
Aggregate Amount Beneficially Owned by Each Reporting Person
1,520,500
12
Check 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)
PN

 

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Page 6 of 8 – SEC Filing

 

1
Names of Reporting Persons.
David Einhorn
2
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)           [ ]
(b)           [ ]
3
SEC Use Only
4
Source of Funds (See Instructions):
AF, WC
5
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e):
[ ]
6
Citizenship or Place of Organization.
USA
Number
of Shares
Beneficially
Owned by
Each
Reporting
Person With
7           Sole Voting Power
0
8           Shared Voting Power
5,488,438
9            Sole Dispositive Power
0
10           Shared Dispositive Power
5,488,438
11
Aggregate Amount Beneficially Owned by Each Reporting Person
5,488,438
12
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)     [ ]
13
Percent of Class Represented by Amount in Row (11)
35.0%
14
Type of Reporting Person (See Instructions)
IN

 

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Page 7 of 8 – SEC Filing

SCHEDULE 13D
This Amendment is being filed to reflect changes in the percentage of outstanding Common Units that may be deemed beneficially owned by each Reporting Persons as a result of a change in the total number of outstanding Common Units (each capitalized term defined below).   The Reporting Persons did not change their holdings of Common Units of the Issuer.
Item 1.
Security and Issuer
This Amendment No. 1 to Schedule 13D (the “Amendment”), relating to common units (“Common Units”) of CNX Coal Resources LP, a Delaware limited partnership (the “Issuer” or the “Company”), is being filed with the Securities and Exchange Commission (the “SEC”) as an amendment to the Schedule 13D filed with the SEC on July 7, 2015.  This Amendment is being filed on behalf of Greenlight Capital, Inc., a Delaware corporation (“Greenlight Inc.”), DME Advisors, LP, a Delaware limited partnership (“DME Advisors”), DME Capital Management, LP, a Delaware limited partnership (“DME CM”), and DME Advisors GP, LLC, a Delaware limited liability company (“DME GP” and together with Greenlight Inc., DME Advisors and DME CM, “Greenlight”), and Mr. David Einhorn, the principal of Greenlight (collectively with Greenlight, the “Reporting Persons”).
This Amendment relates to Common Units of the Issuer held by Greenlight for the account of private investment funds and other accounts for which Greenlight acts as investment manager (or general partner of the investment manager) and with respect to which Mr. Einhorn may be deemed to have indirect investment and/or voting power as the principal of Greenlight and other affiliated entities.  DME GP is the general partner of DME Advisors and of DME CM.
The filing of this Amendment shall not be construed as an admission that any of the Reporting Persons is for the purposes of Section 13(d) or 13(g) of the Securities Exchange Act of 1934, the beneficial owner of any of the Common Units reported herein.  Pursuant to Rule 13d-4, each of the Reporting Persons disclaims all such beneficial ownership except to the extent of its pecuniary interest in any Common Units, if applicable.
Item 5 is amended and restated as follows:
Item 5.
Interest in Securities of the Issuer
(a) and (b)  See Items 7-13 of the cover pages.
The percentages reported herein are based on there being 15,675,131 Common Units outstanding (11,718,635 Common Units as of July 31, 2017, as reported in the Quarterly Report on Form 10-Q filed by the issuer with the SEC on August 1, 2017, together with an additional 3,956,496 Common Units issued on October 2, 2017, as reported in the Current Report on Form 8-K filed by the issuer with the SEC on October 3, 2017).
(c)  Not applicable.
(d)  Not applicable.
(e)  Not applicable.

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Page 8 of 8 – SEC Filing


SIGNATURE
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:      October 6, 2017
Greenlight Capital, Inc.
By: /s/ Daniel Roitman                            
Daniel Roitman
Chief Operating Officer
DME Advisors GP, L.L.C.
By: /s/ Daniel Roitman                            
            Daniel Roitman
Chief Operating Officer
DME Advisors, L.P.
By: /s/ Daniel Roitman                            
Daniel Roitman
Chief Operating Officer
DME Capital Management, LP
By: /s/ Daniel Roitman                            
Daniel Roitman
Chief Operating Officer
/s/ Daniel Roitman**
Daniel Roitman, on behalf of David Einhorn
** The Power of Attorney, executed by David Einhorn authorizing the signatory to sign and file this Schedule 13D on David Einhorn’s behalf, filed as Exhibit 99.2 to the Schedule 13G filed with the Securities and Exchange Commission on May 24, 2010 by the Reporting Person with respect to the common stock of NCR Corporation, is hereby incorporated by reference.
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