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Old School SC Fundamental Value Fund Betting On Nicholas Financial Inc (NICK)

You probably never heard of SC Fundamental Value Fund. David Einhorn andCurtis Macnguyen used to work there as analysts. Currently SC Fundamental Value manages a small portfolio which is why it isn’t required to file 13Fs with the SEC. The fund was founded by Gary Siegler and Peter Collery. Here is what Barron’s said about the fund in 2015:

“…the firm’s long-term track record is much more consistent than many bigger, better known hedge funds. SC has generated net annualized returns of 12.2% since its founding in June 1990 versus the S&P 500’s annual total returns of 9.6% in that time. Its annual volatility has been nearly one-third less than the market’s, 10.4% versus 14.6%. And its worst drawdown [peak to trough] was 22.2% versus the market’s 51%.”

This morning SC Fundamental Value Fund filed a 13G revealing a 5.8% position in Nicholas Financial Inc (NASDAQ:NICK). The details of this filing can be seen below.

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Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
SC Fundamental Value Fund 0 370,644 0 370,644 370,644 4.69%
SC Fundamental 0 370,644 0 370,644 370,644 4.69%
SC Fund Management Profit Sharing Plan 0 89,522 0 89,522 89,522 1.13%
Peter M. Collery 0 460,166 0 460,166 460,166 5.82%
Neil H. Koffler 0 370,644 0 370,644 370,644 4.69%
John T. Bird 0 370,644 0 370,644 370,644 4.69%
David A. Hurwitz 0 370,644 0 370,644 370,644 4.69%

Page 1 of 11 – SEC Filing

UNITED
STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE
13G/A

(Amendment No. 1)

Under
the Securities Exchange Act of 1934

Nicholas
Financial, Inc.

(Name
of Issuer)

 

Common
Stock

(Title
of Class of Securities)

 

65373J209

(CUSIP
Number)

 

September
24, 2018

(Date
of Event Which Requires Filing of this Statement)

 

Check the
appropriate box to designate the rule pursuant to which this Schedule is filed:

 

o Rule
13d-1(b)
x Rule
13d-1(c)
o 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 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).

 

Persons
who are to respond to the collection of information contained in this form are not required to respond unless the form displays
a currently valid OMB control number.

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