Schulze Group Amends Best Buy Stake Filing

Ticker: BBY · Form: SC 13D/A · Filed: 2024-06-05T00:00:00.000Z

Sentiment: neutral

Topics: schedule-13d, amendment, shareholder-activity, retail

Related Tickers: BBY

TL;DR

Schulze family foundation & investment arms updated their Best Buy 13D filing - still watching.

AI Summary

Richard M. Schulze, through affiliated entities like Olympus Investments Limited Partnership, filed an amendment to their Schedule 13D on May 30, 2024, regarding their holdings in Best Buy Co., Inc. This filing, Amendment No. 13, updates their previous disclosures concerning their beneficial ownership of the company's common stock.

Why It Matters

This filing indicates ongoing activity and potential strategic interest from a significant shareholder in Best Buy, which could influence future corporate actions or stock performance.

Risk Assessment

Risk Level: medium — Amendments to 13D filings often signal changes in a major shareholder's intentions or stake, which can introduce uncertainty and potential volatility for the stock.

Key Players & Entities

FAQ

What is the purpose of this SC 13D/A filing?

This filing is an amendment (Amendment No. 13) to a Schedule 13D, used to update information regarding beneficial ownership of Best Buy Co., Inc. common stock by Richard M. Schulze and associated entities.

Who are the primary filers or beneficial owners mentioned in this amendment?

The filing is associated with Richard M. Schulze and includes group members such as Olympus Investments Limited Partnership A, Olympus Investments Limited Partnership B, Richard M. Schulze Family Foundation, and RMSJS LLC.

What is the subject company of this filing?

The subject company is Best Buy Co., Inc. (CUSIP Number: 086516101).

When was the event requiring this filing amendment?

The date of the event which requires filing of this statement is May 30, 2024.

Where is Best Buy Co., Inc. headquartered?

Best Buy Co., Inc. is headquartered in Richfield, MN, with its business and mail address listed as 7601 Penn Ave South, Richfield, MN 55423.

From the Filing

0000947871-24-000563.txt : 20240605 0000947871-24-000563.hdr.sgml : 20240605 20240605163200 ACCESSION NUMBER: 0000947871-24-000563 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20240605 DATE AS OF CHANGE: 20240605 GROUP MEMBERS: OLYMPUS INVESTMENTS LIMITED PARTNERSHIP A GROUP MEMBERS: OLYMPUS INVESTMENTS LIMITED PARTNERSHIP B GROUP MEMBERS: RICHARD M. SCHULZE FAMILY FOUNDATION GROUP MEMBERS: RMSJS LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BEST BUY CO INC CENTRAL INDEX KEY: 0000764478 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-RADIO TV & CONSUMER ELECTRONICS STORES [5731] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 410907483 STATE OF INCORPORATION: MN FISCAL YEAR END: 0201 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-38156 FILM NUMBER: 241022416 BUSINESS ADDRESS: STREET 1: 7601 PENN AVE SOUTH CITY: RICHFIELD STATE: MN ZIP: 55423 BUSINESS PHONE: 6122911000 MAIL ADDRESS: STREET 1: 7601 PENN AVE SOUTH CITY: RICHFIELD STATE: MN ZIP: 55423 FORMER COMPANY: FORMER CONFORMED NAME: BEST BUYS CO INC DATE OF NAME CHANGE: 19900809 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SCHULZE RICHARD M CENTRAL INDEX KEY: 0001006394 ORGANIZATION NAME: FILING VALUES: FORM TYPE: SC 13D/A MAIL ADDRESS: STREET 1: BEST BUY CO INC STREET 2: 7075 FLYING CLOUD DRIVE CITY: EDEN PRAIRIE STATE: MN ZIP: 55344 SC 13D/A 1 ss3476231_sc13da.htm AMENDMENT NO. 13 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 13)* Best Buy Co., Inc. (Name of Issuer) Common Stock, par value $0.10 per share (Title of Class of Securities) 086516101 (CUSIP Number) Creighton O’M. Condon Allen Overy Shearman Sterling LLP 599 Lexington Avenue New York, NY 10022 (212) 848-4000 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) May 30, 2024 (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. o 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). SCHEDULE 13D CUSIP No. 086516101 Page 2 of 9 Pages NAME OF REPORTING PERSONS 1 Richard M. Schulze, individually, as the account holder of the Best Buy 401(k) Retirement Savings Plan held in his name, and as trustee of the Richard M. Schulze Revocable Trust and the Richard M Schulze Qualified Terminable Interest Property Marital Trust II. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) 2 (a) ☐ (a) (b) ☐ SEC USE ONLY 3 SOURCE OF FUNDS (See Instructions) 4 PF, OO CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ 5 CITIZENSHIP OR PLACE OF ORGANIZATION 6 U.S. SOLE VOTING POWER 7 NUMBER OF 16,829,534* SHARES SHARED VOTING POWER BENEFICIALLY 8 OWNED BY 1,030,675* EACH SOLE DISPOSITIVE POWER REPORTING 9 PERSON 16,829,534** WITH SHARED DISPOSITIVE POWER 10 1,030,675* AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 17,860,

View on Read The Filing