Echo Street Capital Exits Tri Pointe Homes Position

TL;DR

**Echo Street Capital sold all its Tri Pointe Homes shares, signaling a complete exit.**

AI Summary

Echo Street Capital Management LLC filed an amended Schedule 13G/A for Tri Pointe Homes, Inc. on February 9, 2024, indicating a significant change in their beneficial ownership as of December 31, 2023. The filing shows that Echo Street Capital Management LLC now holds 0 shares with sole or shared voting and dispositive power, a decrease from their previous holdings. This matters to investors because it signals that a major institutional investor has completely exited their position in Tri Pointe Homes, Inc., which could be interpreted as a lack of confidence in the company's future performance.

Why It Matters

This filing indicates a major institutional investor, Echo Street Capital Management LLC, has sold all its shares in Tri Pointe Homes, Inc., which could signal a bearish outlook from a sophisticated market participant.

Risk Assessment

Risk Level: medium — The complete divestment by an institutional investor like Echo Street Capital Management LLC could suggest underlying concerns about Tri Pointe Homes, Inc., increasing investment risk.

Analyst Insight

An investor might consider researching the reasons behind Echo Street Capital Management LLC's complete exit from Tri Pointe Homes, Inc. and evaluate their own position, potentially reducing exposure or holding off on new investments until more clarity emerges.

Key Numbers

• 0 — Sole Voting Power (Echo Street Capital Management LLC's current sole voting power over Tri Pointe Homes, Inc. shares as of December 31, 2023)
• 0 — Shared Voting Power (Echo Street Capital Management LLC's current shared voting power over Tri Pointe Homes, Inc. shares as of December 31, 2023)
• 0 — Sole Dispositive Power (Echo Street Capital Management LLC's current sole dispositive power over Tri Pointe Homes, Inc. shares as of December 31, 2023)
• 0 — Shared Dispositive Power (Echo Street Capital Management LLC's current shared dispositive power over Tri Pointe Homes, Inc. shares as of December 31, 2023)

Key Players & Entities

• Echo Street Capital Management LLC (company) — the reporting person who filed the SC 13G/A
• Tri Pointe Homes, Inc. (company) — the subject company whose securities are being reported
• Delaware (company) — state of organization for Echo Street Capital Management LLC
• December 31, 2023 (date) — date of event which requires the filing of this statement
• February 9, 2024 (date) — date the SC 13G/A was filed

Forward-Looking Statements

• Tri Pointe Homes, Inc. stock may experience downward pressure or increased scrutiny from investors due to the complete divestment by Echo Street Capital Management LLC. (Tri Pointe Homes, Inc.) — medium confidence, target: Q1 2024

FAQ

Key Financial Figures

• $0.01 — me of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti

Filing Documents

• d10978579_13g-a.htm (SC 13G/A) — 96KB
• 0000919574-24-000789.txt ( ) — 97KB

From the Filing

SC 13G/A 1 d10978579_13g-a.htm UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 1) Tri Pointe Homes, Inc. (Name of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securities) 87265H109 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [_] Rule 13d-1(c) [_] Rule 13d-1(d) __________ 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). CUSIP No 87265H109 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Echo Street Capital Management LLC 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [_] (b) [_] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 0 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 0 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 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) 0% 12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IA CUSIP No 87265H109 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Greg Poole 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [_] (b) [_] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Canada NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 0 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 0 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 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) 0% 12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN, HC Item 1. (a). Name of Issuer: Tri Pointe Homes, Inc. (b). Address of issuer's principal executive offices: 940 Southwood Blvd, Suite 200 Incline Village, Nevada 89451 Item 2. (a). Name of persons filing: Echo Street Capital Management LLC Greg Poole (b). Address or principal business office or, if none, residence: 12 E. 49th Street, 44th Floor New York, NY 10017 (c). Citizenship: Echo Street Capital Management LLC – Delaware Greg Poole – Canada (d). Title of class of securities: Common Stock, par value $0.01 per share (e). CUSIP No.: 87265H109 Item 3. If This Statement is filed pursuant to §§.240.13d-1(b) or 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 § 240.13d-1(b)(1)(ii)(E); (f) [_] An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F); (g) [X] A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G); (h) [_] A savings association 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) [_] A non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J); (k) [_] Group, in accordance with §240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J), please specify the type of institution: Item 4. Ownership. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: Echo Street Capital Management LLC – 0 shares Greg Poole – 0 shares (b) Percent of class: Echo Street Capital Management LLC – 0% Greg Poole – 0% (c) Number of shares as to which Echo Street Capital Management LLC has: (i) Sole power to vote or to direct the vote 0 , (ii) Shared power to vote or to direct