0000078838-11-000047.txt : 20111101 0000078838-11-000047.hdr.sgml : 20111101 20111031191031 ACCESSION NUMBER: 0000078838-11-000047 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20111101 DATE AS OF CHANGE: 20111031 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Lesser David H CENTRAL INDEX KEY: 0001479527 FILING VALUES: FORM TYPE: SC 13D MAIL ADDRESS: STREET 1: 206 EAST 63RD STREET - FIFTH FLOOR CITY: NEW YORK STATE: NY ZIP: 10021 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PITTSBURGH & WEST VIRGINIA RAILROAD CENTRAL INDEX KEY: 0000078838 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 256002536 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-34969 FILM NUMBER: 111169439 BUSINESS ADDRESS: STREET 1: 55 EDISON AVENUE CITY: WEST BABYLON STATE: NY ZIP: 11704 BUSINESS PHONE: 2127500373 MAIL ADDRESS: STREET 1: PITTSBURGH & WEST VIRGINIA RAILROAD STREET 2: 55 EDISON AVENUE CITY: WEST BABYLON STATE: NY ZIP: 11704 SC 13D 1 PW13d10312011.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 PITTSBURGH & WEST VIRGINIA RAILROAD -------------------------------------------------- (Exact Name of Issuer as Specified in its Charter) COMMON STOCK ------------------------------ (Title of Class of Securities) 72481910-7 --------------------- (CUSIP Number) David H. Lesser 212-750-0373 Pittsburgh & West Virginia Railroad 55 Edison Avenue West Babylon, NY 11704 --------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) October 20, 2011 --------------------------------------------------------- (Date of Event which Requires Filing of this Statement) If the person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ]. Note: Schedules filed in paper format shall include a signed original and five copies of the Schedule, including all exhibits. See Rule 13d- 7(b) for other parties to whom copies are to be sent. 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). SCHEDULE 13D CUSIP No. 72481910-7 --------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS David H. Lesser --------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [_] (b) [X] --------------------------------------------------------------------- 3 SEC USE ONLY --------------------------------------------------------------------- 4 SOURCE OF FUNDS* 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 of America --------------------------------------------------------------------- 7 SOLE VOTING POWER 5,632 NUMBER OF ---------------------------------------------------- SHARES 8 SHARED VOTING POWER 128,770 BENEFICIALLY OWNED ---------------------------------------------------- 9 SOLE DISPOSITIVE POWER 5,632 ----------------------------------------------------- 10 SHARED DISPOSITIVE POWER 128,770 --------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON David H. Lesser ("DHfL") directly owns 5,632 shares of common shares. In addition, partnerships owned and/or managed by DHL own 128,770. --------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] See Item 5, footnote (1) below. --------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.28% --------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN --------------------------------------------------------------------- SCHEDULE 13D CUSIP No. 72481910-7 --------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS Hudson Bay Partners, LP --------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [_] (b) [X] --------------------------------------------------------------------- 3 SEC USE ONLY --------------------------------------------------------------------- 4 SOURCE OF FUNDS* CO --------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] --------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware, United States --------------------------------------------------------------------- 7 SOLE VOTING POWER 85,210 NUMBER OF ---------------------------------------------------- SHARES 8 SHARED VOTING POWER N/A BENEFICIALLY OWNED ---------------------------------------------------- 9 SOLE DISPOSITIVE POWER 85,210 ----------------------------------------------------- 10 SHARED DISPOSITIVE POWER N/A --------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 85,210 shares of common shares --------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] --------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.25% --------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN --------------------------------------------------------------------- SCHEDULE 13D CUSIP No. 72481910-7 --------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS HBP PW, LLC --------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [_] (b) [X] --------------------------------------------------------------------- 3 SEC USE ONLY --------------------------------------------------------------------- 4 SOURCE OF FUNDS* CO --------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] --------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware, United States --------------------------------------------------------------------- 7 SOLE VOTING POWER 43,560 NUMBER OF ---------------------------------------------------- SHARES 8 SHARED VOTING POWER N/A BENEFICIALLY OWNED ---------------------------------------------------- 9 SOLE DISPOSITIVE POWER 43,560 ----------------------------------------------------- 10 SHARED DISPOSITIVE POWER N/A --------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 43,560 shares of common shares --------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] --------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.68% --------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN --------------------------------------------------------------------- Item 1. Security and Issuer. The class of securities to which this statement relates is common shares of beneficial interest, no par value, (the "Common Shares") of Pittsburgh & West Virginia Railroad (the "Company" or "Issuer"). The address of the principal executive offices of the Company is: David H. Lesser CEO & Chairman of the Board of Trustees Pittsburgh & West Virginia Railroad 55 Edison Avenue West Babylon, NY 11704 Item 2. Identity and Background This statement is filed on behalf of each of David H. Lesser ("DHL"), a United States citizen, Hudson Bay Partners, LP, a Delaware limited partnership ("Hudson Bay"), and HBP PW, LLC, a Delaware limited liability company ("HBP") (collectively, the "Reporting Persons"). DHL is the sole owner and managing partner of Hudson Bay and the managing member of HBP. The address for the Reporting Persons is: 55 Edison Avenue West Babylon, NY 11704 DHL is the CEO and Chairman of the Board of Trustees of the Company. During the last five years, none of the Reporting Persons has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. Item 3. Source and Amount of Funds or Other Consideration. The responses to Items 4 and 6 are incorporated herein by reference. Item 4. Purpose of Transaction. The shares were acquired by the Reporting Persons for investment. The Reporting Persons reserve the right to acquire additional shares of the Issuer, either in open market purchases or in private transactions. Other than as described in this Item 4, the Reporting Persons do not have any present plan or proposal that would relate to or result in any of the matters set forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D. However, each of the Reporting Persons reserves the right to change its plans at any time, as it deems appropriate, in light of its ongoing evaluation of (a) its business and liquidity objectives, (b) the Issuer's financial condition, business, operations, competitive position, prospects and/or share price, (c) industry, economic and/or securities markets conditions, (d) alternative investment opportunities, and (e) other relevant factors. Without limiting the generality of the preceding sentence, each of the Reporting Persons reserves the right (in each case, subject to any applicable restrictions under law or contract) to at any time or from time to time (i) purchase or otherwise acquire additional Shares or other securities of the Issuer, or instruments convertible into or exercisable for any such securities or instruments into which any such securities are convertible into or exchangeable for, including Shares (collectively, "Issuer Securities"), in the open market, in privately negotiated transactions or otherwise, (ii) sell, transfer or otherwise dispose of Issuer Securities in public or private transactions, (iii) cause Issuer Securities to be distributed in kind to its investors, and/or (iv) acquire or write options contracts, or enter into derivatives or hedging transactions, relating to Issuer Securities. Item 5. Interest in Securities of the Issuer As of the date hereof, the Reporting Persons beneficially own, directly and indirectly, 134,402 Common Shares or 8.28% of the total number of the Common Shares outstanding. The interests are owned directly or indirectly as follows: Sole Power to Shared Power to Direct Voting Direct Voting Total & Disposition & Disposition Shares -------------- --------------- ----------- David H. Lesser(1) 5,632 128,770 134,402 Hudson Bay Partners, LP(2) 85,210 0 85,210 HBP PW, LLC(3) 43,560 0 43,560 _________ (1) David H. Lesser ("DHL") may be deemed to have sole power to direct the voting and disposition of 5,632 Common Shares. MEL Generation Skipping Trust, a trust set up for the children of DHL, ("MEL Trust") owns 10,383 common shares. DHL disclaims any beneficial, pecuniary or residual interest in MEL Trust, does not serve as Trustee and does not have the power to revoke the MEL Trust. On October 20, 2011, DHL acquired 1,308 Common Shares at $13.00. On October 21, 2011, DHL acquired 3,049 Common Shares at $12.50. On October 27, 2011, DHL acquired 200 Common Shares at $12.90. (2) DHL owns 100% of Hudson Bay Partners, LP ("Hudson Bay"). Hudson Bay may be deemed to have sole power and DHL may be deemed to have shared power to direct the voting and disposition of 85,210 Common Shares. (3) DHL is the managing member of HBP PW, LLC ("HBP"). HBP may be deemed to have sole power and DHL may be deemed to have shared power to direct the voting and disposition of 43,560 Common Shares. Item 6. Contracts, Arrangements, Understandings or Relationships David H. Lesser is the CEO and Chairman of the Board of Trustees of the Company. There are no contracts, arrangements or understandings with respect to securities of the Issuer. Item 7. Material to be Filed as Exhibits. None. 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. DAVID H. LESSER By: /s/ David H. Lesser Date: October 31, 2011 HUDSON BAY PARTNERS, LP By: /s/ David H. Lesser Name: David H. Lesser Title: Managing Partner Date: October 31, 2011 HBP PW, LLC By: /s/ David H. Lesser Name: David H. Lesser Title: Managing Member Date: October 31, 2011