UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
WRIGHT INVESTORS’ SERVICE HOLDINGS, INC.
(Name of Issuer)
Common Stock, par value $0.01 per share
(Title of Class of Securities)
982345100
(CUSIP Number)
Jeffrey Bronchick
2101 El Segundo Blvd., Suite 302
El Segundo, California 90245
(424) 221-5897
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
July 12, 2019
(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:[ ]
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See § 240.13d-7(b) 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).
| CUSIP No. 982345100 | 13D/A | Page 2 of 9 Pages |
| 1 | NAME OF REPORTING PERSON
Cove Street Capital, LLC | |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: | |
| (a) [X] | ||
| (b) [ ] | ||
| 3 | SEC USE ONLY | |
| 4 | SOURCE OF FUNDS
WC, OO | |
| 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
105,000 |
| 8 | SHARED VOTING POWER
303,667 | |
| 9 | SOLE DISPOSITIVE POWER
105,000 | |
| 10 | SHARED DISPOSITIVE POWER
303,667 |
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
408,667 | |
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | |
| [ ] | ||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
2.07% | |
| 14 | TYPE OF REPORTING PERSON
IA | |
| CUSIP No. 982345100 | 13D/A | Page 3 of 9 Pages |
| 1 | NAME OF REPORTING PERSON
Jeffrey Bronchick | |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: | |
| (a) [X] | ||
| (b) [ ] | ||
| 3 | SEC USE ONLY | |
| 4 | SOURCE OF FUNDS
PF | |
| 5 | CHECK 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 | |
| NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
7 | SOLE VOTING POWER
814,122 |
| 8 | SHARED VOTING POWER
408,667 | |
| 9 | SOLE DISPOSITIVE POWER
814,122 | |
| 10 | SHARED
DISPOSITIVE POWER 408,667 |
| 11 | AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,222,789 | |
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | |
| [ ] | ||
| 13 | PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW 11 6.19% | |
| 14 | TYPE
OF REPORTING PERSON IN | |
| CUSIP No. 982345100 | 13D/A | Page 4 of 9 Pages |
| 1 | NAME OF REPORTING PERSON
Eugene Robin | |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: | |
| (a) [X] | ||
| (b) [ ] | ||
| 3 | SEC USE ONLY | |
| 4 | SOURCE
OF FUNDS PF | |
| 5 | CHECK 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 | |
| NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
7 | SOLE
VOTING POWER 105,000 |
| 8 | SHARED
VOTING POWER 0 | |
| 9 | SOLE
DISPOSITIVE POWER 105,000 | |
| 10 | SHARED
DISPOSITIVE POWER 0 |
| 11 | AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 105,000 | |
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | |
| [ ] | ||
| 13 | PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW 11 0.53% | |
| 14 | TYPE
OF REPORTING PERSON IN | |
| CUSIP No. 982345100 | 13D/A | Page 5 of 9 Pages |
| 1 | NAME
OF REPORTING PERSON Paul Hinkle | |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: | |
| (a) [X] | ||
| (b) [ ] | ||
| 3 | SEC USE ONLY | |
| 4 | SOURCE
OF FUNDS PF | |
| 5 | CHECK 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 | |
| NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
7 | SOLE
VOTING POWER 20,000 |
| 8 | SHARED
VOTING POWER 0 | |
| 9 | SOLE
DISPOSITIVE POWER 20,000 | |
| 10 | SHARED
DISPOSITIVE POWER 0 |
| 11 | AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 20,000 | |
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | |
| [ ] | ||
| 13 | PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW 11 0.10% | |
| 14 | TYPE
OF REPORTING PERSON IN | |
| CUSIP No. 982345100 | 13D/A | Page 6 of 9 Pages |
| 1 | NAME
OF REPORTING PERSON Marshall Geller | |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: | |
| (a) [X] | ||
| (b) [ ] | ||
| 3 | SEC USE ONLY | |
| 4 | SOURCE
OF FUNDS PF | |
| 5 | CHECK 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 | |
| NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
7 | SOLE
VOTING POWER 683,090 |
| 8 | SHARED
VOTING POWER -0- | |
| 9 | SOLE
DISPOSITIVE POWER 683,090 | |
| 10 | SHARED
DISPOSITIVE POWER -0- |
| 11 | AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 683,090 | |
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | |
| [ ] | ||
| 13 | PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW 11 3.46% | |
| 14 | TYPE
OF REPORTING PERSON IN | |
| CUSIP No. 982345100 | 13D/A | Page 7 of 9 Pages |
| 1 | NAME
OF REPORTING PERSON Andrew Leaf | |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: | |
| (a) [X] | ||
| (b) [ ] | ||
| 3 | SEC USE ONLY | |
| 4 | SOURCE
OF FUNDS PF | |
| 5 | CHECK 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 | |
| NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
7 | SOLE
VOTING POWER 50,000 |
| 8 | SHARED
VOTING POWER -0- | |
| 9 | SOLE
DISPOSITIVE POWER 50,000 | |
| 10 | SHARED
DISPOSITIVE POWER -0- |
| 11 | AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 50,000 | |
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | |
| [ ] | ||
| 13 | PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW 11 0.25% | |
| 14 | TYPE
OF REPORTING PERSON IN | |
| CUSIP No. 982345100 | 13D/A | Page 8 of 9 Pages |
Explanatory Note
This Amendment No. 2 to Schedule 13D (this “Amendment”) relates to the common stock, par value $0.01 per share (“Common Stock”), of Wright Investors’ Service Holdings, Inc., a Delaware corporation (the “Issuer” or the “Company”) and amends the Amendment No. 1 to Schedule 13D filed by the Reporting Persons on June 21, 2019 (the “Amendment No. 1”). Except as specifically provided herein, this Agreement does not modify any of the information previously reported in the Amendment No. 1.
This Amendment is being filed by:
| (i) | Cove Street Capital, LLC, a Delaware limited liability company (“CSC”); | |
| (ii) | Jeffrey Bronchick (“Bronchick”) | |
| (iii) | Eugene Robin; | |
| (iv) | Paul Hinkle; | |
| (v) | Marshall Geller; and | |
| (vi) | Andrew Leaf |
| Item 4. | Purpose of the Transaction |
This Amendment is being filed to report recent open-market purchases of securities of the Issuer by CSC.
| Item 5. | Interest in Securities of the Issuer |
(a) – (b) The aggregate number of shares of Common Stock to which this Schedule 13D relates is 2,080,879 shares of Common Stock, constituting approximately 10.54% of the outstanding Common Stock. All percentages set forth herein are based upon a total of 19,744,321 shares of Common Stock outstanding as of May 10, 2019, as reported on the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2019.
(c) On July 8, 2019, CSC purchased 90,000 shares of the Common Stock of the Company at $0.40 per share and 7,000 shares of the Common Stock of the Company at $0.41 per share; on July 11, 2019, CSC purchased 100,000 shares of the Common Stock of the Company at $0.40 per share; and on July 12, 2019, CSC purchased 40,280 shares of Common Stock at $0.40 per share. All purchases were for cash in the open market. As a result, as of the date hereof, CSC beneficially owns 408,667 shares (the “CSC Shares”) representing 2.07% of the Company’s outstanding shares. Bronchick, as Chief Investment Officer of CSC, has shared voting power over the CSC Shares. CSC used the working capital of the funds and accounts managed by CSC in the purchase of the Shares.
| Item 6. | Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer |
None.
| Item 7. | Material to be Filed as Exhibits |
None.
| CUSIP No. 982345100 | 13D/A | Page 9 of 9 Pages |
SIGNATURES
After reasonable inquiry and to the best of the undersigned knowledge and belief, each of the undersigned certifies that the information set forth on this statement is true and correct.
Dated: July 19, 2019
| /s/ Jeffrey Bronchick | ||
| Jeffrey Bronchick | ||
| /s/ Eugene Robin | ||
| Eugene Robin | ||
| /s/ Paul Hinkle | ||
| Paul Hinkle | ||
| /s/ Marshall Geller | ||
| Marshall Geller | ||
| /s/ Andrew Leaf | ||
| Andrew Leaf | ||
| COVE STREET CAPITAL, LLC | ||
| By: | /s/ Jeffrey Bronchick | |
| Name: | Jeffrey Bronchick | |
| Title: | Chief Investment Officer | |