Filing Details

Accession Number:
0001885935-21-000001
Form Type:
13G Filing
Publication Date:
2021-10-04 20:00:00
Filed By:
Shipyard Capital Management Llc
Company:
Pacific Coast Oil Trust (NYSE:ROYT)
Filing Date:
2021-10-05
SEC Url:
13G Filing
Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
47-483556 2,012,010 2,012,010 5.21%
47-4663148 Shipyard Capital Management 2,012,010 2,012,010
Filing

-------------------------- OMB APPROVAL OMB Number: 3235-0145 Expires: February 28, 2009 Estimated average burden hours per response...10.4 -------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 (Amendment No.__)* Pacific Coast Oil Trust ------------------------------------------------------------------------------- (Name of Issuer) UNITS OF BENEFICIAL INTEREST ------------------------------------------------------------------------------- (Title of Class of Securities) 694103102 ------------------------------------------------------------ (CUSIP Number) September 24, 2021 ------------------------------------------------------------ (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 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 (THE "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). Page 1 of 7 Pages

CUSIP NO. 694103102 --------- - -------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) 47-4835562 Shipyard Capital LP - -------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [X] (b) [ ] - -------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------- 5 SOLE VOTING POWER NUMBER OF NONE SHARES BENEFICIALLY ------------------------------------------------- OWNED BY 6 SHARED VOTING POWER EACH REPORTING 2,012,010 PERSON ------------------------------------------------- WITH 7 SOLE DISPOSITIVE POWER NONE ------------------------------------------------- 8 SHARED DISPOSITIVE POWER 2,012,010 - -------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,012,010 - -------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] (SEE INSTRUCTIONS) - -------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 5.21% - -------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN - -------------------------------------------------------------------------- Page 2 of 7 Pages CUSIP NO. 694103102 --------- - -------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) 47-4663148 Shipyard Capital Management LLC - -------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [X] (b) [ ] - -------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------- 5 SOLE VOTING POWER NUMBER OF NONE SHARES BENEFICIALLY ------------------------------------------------- OWNED BY 6 SHARED VOTING POWER EACH REPORTING 2,012,010 PERSON ------------------------------------------------- WITH 7 SOLE DISPOSITIVE POWER NONE ------------------------------------------------- 8 SHARED DISPOSITIVE POWER 2,012,010 - -------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,012,010 - -------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] (SEE INSTRUCTIONS) - -------------------------------------------------------------------------- 11 PERCENTAGE OF CLASS REPRESENTED BY AMOUNT IN ROW 9 5.21% - -------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IA - -------------------------------------------------------------------------- Page 3 of 7 Pages CUSIP NO. 694103102 --------- - -------------------------------------------------------------------------- ITEM 1(A) NAME OF ISSUER: Pacific Coast Oil Trust ITEM 1(B) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 601 Travis Street, 16th Floor Houston, TX 77002 ITEM 2(a) NAME OF PERSON FILING: (i) Shipyard Capital LP (SC) with respect to Units of Beneficial Interest directly owned by it. (ii) Shipyard Capital Management LLC (SCM) with respect to Units of Beneficial Interest beneficially owned by it. The foregoing persons are hereinafter sometimes collectively referred to as the Reporting Persons. Any disclosures herein with respect to persons other than the Reporting Persons are made on information and believe after making inquiry to the appropriate party. ITEM 2(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE, OR IF NONE, RESIDENCE: The address of the business office of each of the Reporting Persons is 1477 Ashford Avenue, Suite 2006 San Juan, PR 00907 ITEM 2(c) CITIZENSHIP: SC is a limited partnership organized under the laws of the State of Delaware. SCM is a Delaware limited liability company. ITEM 2(d) TITLE OF CLASS OF SECURITIES: Units of Beneficial Interest Page 4 of 7 Pages ITEM 2(e) CUSIP NUMBER: 694103102 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SS.240.13D-1(B) OR SS. 240.13d-2(B) or (C), CHECK WHETHER THE PERSON FILING IS A: (a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) [X] An investment adviser in accordance with ss.240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with ss.240.13d-1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person in accordance with ss.240.13d-1(b)(1)(ii)(G); (h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] Group, in accordance with ss.240.13d-1(b)(1)(ii)(J). Page 5 of 7 Pages ITEM 4. OWNERSHIP: This Statement is being filed with respect to an aggregate of 2,012,010 Units of Beneficial Interest, resulting in beneficial ownership as follows: 1. Shipyard Capital LP, (a) Amount Beneficially owned: 2,012,010 (b) Percent of Class: 5.21% The percentages used herein and in the rest of Item 4 are calculated based on 38,583,158 Units of Beneficial Interest outstanding as of August 1, 2019, as disclosed in the Issuers most recent Quarterly Report on Form 10-Q for the quarter ended June 30, 2019, as filed with the SEC on August 1, 2019. (c) (i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 2,012,010 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition:2,012,010 2. Shipyard Capital Management LLC (a) Amount Beneficially owned: 2,012,010 (b) Percent of Class: 5.21% (c) (i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 2,012,010 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition:2,012,010 Page 6 of 7 Pages ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ]. ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON. As the discretionary investment manager of the SC LP SCM has power to direct the voting and disposition of shares held by SC LP. ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY OR CONTROL PERSON. N/A ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP. See Item 2. ITEM 9. NOTICE OF DISSOLUTION OF GROUP. N/A Page 7 of 7 Pages ITEM 10. CERTIFICATION. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I hereby certify that the information set forth in this statement is true, complete and correct. September 28, 2021 /s/ Carson Mitchell ---------------------------------- Managing Member Shipyard Capital Management LLC 646-509-9519