Browning West Amends Gildan Activewear 13D Filing

TL;DR

Browning West updated its Gildan filing - still watching closely.

AI Summary

Browning West LP, a significant shareholder, filed an amendment to its Schedule 13D on December 4, 2024, regarding its holdings in Gildan Activewear Inc. The filing indicates ongoing engagement and potential strategic discussions concerning the company's future.

Why It Matters

This amendment signals continued activist investor interest and potential strategic shifts for Gildan Activewear Inc., which could impact its stock price and corporate governance.

Risk Assessment

Risk Level: medium — Activist investor filings can introduce uncertainty and volatility for the subject company's stock.

Key Players & Entities

• Browning West LP (company) — Filing entity and significant shareholder
• Gildan Activewear Inc. (company) — Subject company
• Usman Nabi (person) — Representative of Browning West LP

FAQ

Key Financial Figures

• $222,013,143 — the Reporting Persons is approximately $222,013,143, including brokerage commissions. Item

Filing Documents

• sc13da712418013_12042024.htm (SC 13D/A) — 77KB
• 0000921895-24-002870.txt ( ) — 78KB

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration .

is hereby amended

Item 3 is hereby amended and restated as follows: The Shares beneficially owned by the Reporting Persons were purchased with the working capital of the Browning West Funds for which Browning West serves as investment manager (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market purchases. The aggregate purchase price of the 7,025,176 Shares beneficially owned by the Reporting Persons is approximately $222,013,143, including brokerage commissions.

Purpose of Transaction

Item 4. Purpose of Transaction .

is hereby amended

Item 4 is hereby amended to add the following: The Reporting Persons have undertaken the sales in the Shares reported in this Amendment No. 7 in large part to effectuate a rebalancing of Browning West’s portfolio in light of the significant appreciation in the Issuer’s stock price since the Reporting Persons filed their initial Schedule 13D in the Issuer. The Reporting Persons continue to have a positive outlook on the Issuer’s future performance.

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer . Items 5(a)-(c) and (e) are hereby amended and restated as follows: The aggregate percentage of Shares reported owned by each person named herein is based upon 154,422,137 Shares outstanding as of October 25, 2024, which is the total number of Shares outstanding as reported in Exhibit 99.1 to the Issuer’s Form 6-K filed with the Securities and Exchange Commission on October 31, 2024. A. Browning West (a) As of the close of business on December 3, 2024, Browning West, as the investment manager to the Browning West Funds, may be deemed to beneficially own the 7,025,176 Shares held by the Browning West Funds. Percentage: Approximately 4.5% (b) 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 7,025,176 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 7,025,176 (c) The transactions in the Shares by Browning West on behalf of the Browning West Funds during the past 60 days are set forth in Schedule A and are incorporated herein by reference. B. Mr. Nabi (a) As of the close of business on December 3, 2024, as the managing member of Browning West UPG and Chief Investment Officer of Browning West, Mr. Nabi may be deemed to beneficially own the 7,025,176 Shares beneficially owned by Browning West. Percentage: Approximately 4.5% (b) 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 7,025,176 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 7,025,176 (c) Mr. Nabi has not entered into any transactions in the Shares during the past 60 days. The transactions in the Shares by Browning West on behalf of the Browning West Funds during the past 60 days are set forth in Schedule A and are incorporated herein by reference. The filing of this Schedule 13D shall not be deemed an admission that the Reporting Persons are, for purposes o

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of his knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: December 4, 2024 Browning West, LP By: /s/ Samuel Green Name: Samuel Green Title: Chief Compliance Officer and Chief Financial Officer /s/ Usman Nabi Usman Nabi SCHEDULE A Transactions in Securities of the Issuer During the Past 60 Days Nature of the Transaction Securities Purchased/(Sold) Price Per Security($) Date of Purchase/Sale Browning West, LP (On Behalf of the Browning West Funds) Sale of Common Shares (131,500) 49.6051 11/01/2024 Sale of Common Shares (200,000) 49.2441 11/04/2024 Sale of Common Shares (200,000) 50.1341 11/05/2024 Sale of Common Shares (300,000) 49.3048 11/06/2024 Sale of Common Shares (162,725) 49.1891 11/07/2024 Sale of Common Shares (200,000) 48.9556 11/08/2024 Sale of Common Shares (178,618) 49.1503 11/11/2024 Sale of Common Shares (150,000) 48.3873 11/12/2024 Sale of Common Shares (89,116) 49.0803 11/13/2024 Sale of Common Shares (100,000) 48.0452 11/14/2024 Sale of Common Shares (100,000) 48.0561 11/15/2024 Sale of Common Shares (250,000) 48.4800 11/18/2024 Sale of Common Shares (250,000) 48.8383 11/20/2024 Sale of Common Shares (100,000) 50.2249 12/02/2024 Sale of Common Shares (200,000) 50.0877 12/03/2024

View Full Filing

View this SC 13D/A filing on SEC EDGAR