0001140361-14-025985.txt : 20140624 0001140361-14-025985.hdr.sgml : 20140624 20140617171952 ACCESSION NUMBER: 0001140361-14-025985 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20140617 DATE AS OF CHANGE: 20140617 GROUP MEMBERS: COUNSEL PORTFOLIO SERVICES INC. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: United States Diesel-Heating Oil Fund, LP CENTRAL INDEX KEY: 0001396877 STANDARD INDUSTRIAL CLASSIFICATION: [6221] IRS NUMBER: 208837345 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-84993 FILM NUMBER: 14926082 BUSINESS ADDRESS: STREET 1: 1999 HARRISON STREET STREET 2: SUITE 1530 CITY: OAKLAND STATE: CA ZIP: 94612 BUSINESS PHONE: (510) 522-9600 MAIL ADDRESS: STREET 1: 1999 HARRISON STREET STREET 2: SUITE 1530 CITY: OAKLAND STATE: CA ZIP: 94612 FORMER COMPANY: FORMER CONFORMED NAME: United States Heating Oil Fund, LP DATE OF NAME CHANGE: 20070418 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Counsel Portfolio Services Inc. CENTRAL INDEX KEY: 0001498900 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 2680 SKYMARK AVENUE STREET 2: 7TH FLOOR CITY: MISSISSAUGA STATE: A6 ZIP: L4W 5L6 BUSINESS PHONE: 905-212-9799 MAIL ADDRESS: STREET 1: 2680 SKYMARK AVENUE STREET 2: 7TH FLOOR CITY: MISSISSAUGA STATE: A6 ZIP: L4W 5L6 SC 13D 1 formsc13d.htm COUNSEL PORTFOLIO SERVICES INC SC 13D 6-6-2014 (UNITED STATES DIESEL-HEATING OIL FUND LP)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934
(Amendment No.______)*
 
UNITED STATES DIESEL-HEATING OIL FUND, LP
(Name of Issuer)
 
EXCHANGE TRADED FUND
(Title of Class of Securities)
 
911783108
(CUSIP Number)

Richard Kenney, Chief Compliance Officer
2680 Skymark Avenue, 5th Floor, Mississauga, Ontario A6 L4W 5L6
Tel: (905) 212.2436
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

June 6, 2014
(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 which is the subject of the Schedule 13D, and is filing this schedule because of Rule 13d-1(e), (f) or (g), check the following box.

* The remainder of this cover page shall be filled out for the 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 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.
 
CUSIP No. 911783108
                                                                                                                                                                                        
   
1.
Names of Reporting Persons
I.R.S. Identification Nos. of above persons (entities only.)
 
Counsel Portfolio Services Inc.
IRS No.
 
 
  
 
2.
Check the Appropriate box if a Member of  Group (See Instructions)
 
  (a) x
  (b)  
     
 
3. SEC Use Only
     
 
4. Source of Funds (See Instructions) WC
   
 
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
   
 
6. Citizenship or Place of Organization   Ontario, Canada
   
 
Number of
7.
Sole Voting Power   35,169 shares of common stock (see Item #5)
Shares Bene-ficially
 
 
by Owned
Each Reporting
8.
Shared Voting Power
Person With
  9. Sole Dispositive Power 35,169 shares of common stock (see Item #5)
 
  10. Shared Dispositive Power
 
11.
Aggregate Amount Beneficially Owned by Each Reporting Person 35,169 shares of common stock (see Item #5)
 
 
 
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
   
 
13. Percent of Class Represented by Amount in Row (11) 35.169%
   
 
14. Type of Reporting Person (See Instructions)   CO
   
2
Item 1. Security and Issuer

This statement relates to the common shares of stock of United States Diesel-Heating Oil Fund, LP (the “Issuer”), an exchanged traded fund organized as a limited partnership under the laws of the state of Delaware.  The principle executive office of the Issuer is located at 1999 Harrison Street, Suite 1530, Oakland, California 94612.

Item 2. Identity and Background

(a) This Schedule 13D is being filed by the entity Counsel Portfolio Services Inc. (“Counsel”), a corporation amalgamated under the laws of Ontario, Canada;
 
(b) The business address for Counsel is 2680 Skymark Avenue, 7th Floor, Mississauga, Ontario A6 L4w 5L6;

(c) The principal business of the Reporting Persons is investment management business.
 
(d) During the last five years, none of the Reporting Persons or Listed Persons (as defined below) has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors);
 
(e) During the last five years, none of the Reporting Persons or Listed Persons (as defined below) 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;
 
(f) The Reporting Person is a Canadian corporation.
 
In accordance with the provisions of General Instruction C to Schedule 13D, information concerning the executive officers of the Reporting Person (the “Listed Persons”) required by Item 2 of Schedule 13D is listed on Schedule I hereto and is incorporated by reference herein.

Item 3. Source and Amount of Funds or Other Consideration

The funds used by Counsel to acquire the securities described herein were obtained from the working capital of the company.

Item 4. Purpose of Transaction

The Reporting Person acquired the shares of the Issuer reported herein solely for investment purposes.  The Reporting Person may make additional purchases of shares either in the open market or in private transactions, depending on the Reporting Person’s business, prospects and financial condition, the market for the shares, general economic conditions, stock market conditions and other future developments.
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(a) The Reporting Person may acquire or dispose of shares of the Issuer’s stock depending upon prevailing market conditions and its investment objectives;

(b) None;

(c) None;

(d) None;

(e) None;

(f) None;

(g) None;

(h) None;

(i) None;

(j) None.

Item 5. Interest in Securities of the Issuer

The following information with respect to the ownership of the Common Shares of Stock of the Issuer by the Reporting Person filing this statement on Schedule 13D is provided as of the date of this filing:

 
  
   
   
   
Sole
    
Shared
    
   
 
Reporting
  
Shares Held
    
Sole Voting
    
Shared Voting
    
Dispositive
    
Dispositive
    
Beneficial
    
Percentage
  
Person
  
Directly
    
Power
    
Power
    
Power
    
Power
    
Ownership
    
of Class
  
Counsel Portfolio Services Inc.
    
35,169
      
35,169
      
0
      
35,169
      
0
      
35,169
      
35.17
%

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

None.

Item 7. Material to Be Filed as Exhibits

None.
4
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.
 
 
Counsel Portfolio Services Inc.
 
 
 
 
By:
 /s/ Richard Kenney
 
 
Richard Kenney, Vice-President of Risk
 
 
Management & Chief Compliance Officer
 
Dated:
 June 17, 2014
 
 

The original statement shall be signed by each person on whose behalf the statement is filed or his authorized representative.  If the statement is signed on behalf of a person by his authorized representative (other than an executive officer or general partner of the filing person), evidence of the representative’s authority to sign on behalf of such person shall be filed with the statement: provided, however, that a power of attorney for this purpose which is already on file with the Commission may be incorporated by reference. The name and any title of each person who signs the statement shall be typed or printed beneath his signature.

Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001)
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SCHEDULE 1

Set forth below, with respect to each executive officer of the Reporting Person are the following:  (a) name; (b) business address; (c) principal occupation or employment; and (d) citizenship.

Sam Febbraro
c/o Counsel Portfolio Services Inc.
2980 Skymark Avenue
7th Floor
Mississauga, Ontario A6 L4W 5L6
Canada
Principal Occupation: President and Chief Executive Officer
Citizenship: Canadian
 
Frank Gawlina
c/o Counsel Portfolio Services Inc.
2980 Skymark Avenue
7th Floor
Mississauga, Ontario A6 L4W 5L6
Canada
Principal Occupation: Chief Financial Officer
Citizenship: Canadian
 
Corrado Tiralongo
c/o Counsel Portfolio Services Inc.
2980 Skymark Avenue
7th Floor
Mississauga, Ontario A6 L4W 5L6
Canada
Principal Occupation: Chief Investment Officer
Citizenship: Canadian
 
Richard Kenney
c/o Counsel Portfolio Services Inc.
2980 Skymark Avenue
7th Floor
Mississauga, Ontario A6 L4W 5L6
Canada
Principal Occupation: Vice President of Risk Management & Chief Compliance Officer
Citizenship: Canadian
 
Paul G. Oliver
c/o Counsel Portfolio Services Inc.

6
2980 Skymark Avenue
7th Floor
Mississauga, Ontario A6 L4W 5L6
Canada
Principal Occupation: Director
Citizenship: Canadian
 
Christopher Reynolds
c/o Counsel Portfolio Services Inc.
2980 Skymark Avenue
7th Floor
Mississauga, Ontario A6 L4W 5L6
Canada
Principal Occupation: Director
Citizenship: Canadian
 
 
7