Cascade Investment Amends Otter Tail Stake Filing

TL;DR

Bill Gates' Cascade Investment updated its Otter Tail Corp filing. No major changes disclosed, but always watch this space.

AI Summary

Cascade Investment, L.L.C. filed an amendment (No. 12) to its Schedule 13D on October 3, 2024, regarding its holdings in Otter Tail Corporation. The filing indicates a change in the reporting person's beneficial ownership as of October 1, 2024. Cascade Investment, L.L.C. is the investment firm associated with Bill Gates.

Why It Matters

This filing updates the public record on significant ownership changes by a major investor in Otter Tail Corporation, potentially influencing market perception and stock movement.

Risk Assessment

Risk Level: medium — Changes in filings by major investors like Cascade can signal shifts in strategy or confidence, impacting the stock price.

Key Numbers

• 12 — Amendment Number (Indicates this is the twelfth update to the filing.)
• October 1, 2024 — Date of Change (The date as of which the changes in beneficial ownership are reported.)

Key Players & Entities

• Cascade Investment, L.L.C. (company) — Reporting Person
• Otter Tail Corporation (company) — Subject Company
• William H. Gates III (person) — Group Member
• Jeff Shim, Esq. (person) — Authorized Contact

FAQ

Key Financial Figures

• $5.00 — me of Issuer) Common Shares, par value $5.00 per share (Title of Class of Securiti

Filing Documents

• tm2425155d1_sc13da.htm (SC 13D/A) — 44KB
• 0001104659-24-105851.txt ( ) — 46KB

From the Filing

SC 13D/A 1 tm2425155d1_sc13da.htm SC 13D/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON , D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 12)* Otter Tail Corporation (Name of Issuer) Common Shares, par value $5.00 per share (Title of Class of Securities) 689648103 (CUSIP Number) Jeff Shim, Esq. 2365 Carillon Point Kirkland, WA 98033 (425) 889-7900 (Name, Address and Telephone Number of Persons Authorized to Receive Notices and Communications) October 1, 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. * 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. 689648103 1. Names of Reporting Persons Cascade Investment, L.L.C. 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (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 (e) 6. Citizenship or Place of Organization Number of Shares Beneficially Owned by Each Reporting Person With 7. Sole Voting Power 2,973,337 (1) 8. Shared Voting Power -0- 9. Sole Dispositive Power 2,973,337 (1) 10. Shared Dispositive Power -0- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 2,973,337 (1) 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) 13. Percent of Class Represented by Amount in Row (11) 7.1% (2) 14. Type of Reporting Person (See Instructions) OO (1) All of the common shares, $5.00 par value per share (the “Common Shares”), of Otter Tail Corporation (the “Issuer”) held by Cascade Investment, L.L.C. (“Cascade”), may be deemed to be beneficially owned by William H. Gates III as the sole member of Cascade. (2) Based on 41,827,967 Common Shares outstanding as of July 31, 2024, as reported on the Issuer’s Form 10-Q filed on August 7, 2024. CUSIP No. 689648103 1. Names of Reporting Persons William H. Gates III 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) o (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 (e) o 6. Citizenship or Place of Organization United States of America Number of Shares Beneficially Owned by Each Reporting Person With 7. Sole Voting Power 2,973,337 (1) 8. Shared Voting Power -0- 9. Sole Dispositive Power 2,973,337 (1) 10. Shared Dispositive Power -0- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 2,973,337 (1) 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) o 13. Percent of Class Represented by Amount in Row (11) 7.1% (2) 14. Type of Reporting Person (See Instructions) IN (1) All of the Common Shares of the Issuer held by Cascade may be deemed to be beneficially owned by William H. Gates III as the sole member of Cascade. (2) Based on 41,827,967 Common Shares outstanding as of July 31, 2024, as reported on the Issuer’s Form 10-Q filed on August 7, 2024. EXPLANATORY STATEMENT This Amendment No. 12 to Schedule 13D (“Amendment”) amends and supplements the Schedule 13D previously filed by Cascade Investment, L.L.C. (“Cascade”) and William H. Gates III (“WHG,” and together with Cascade, the “Reporting Persons”) with the Securities and Exchange Commission on January 22, 2009, as amended April 15, 2009; May 5, 2009; July 2, 2009; October 7, 2009; June 29, 2010; August 3, 2010; November 4, 2011; December 13, 2011; January 9, 2012; July 16, 2012; and February 24, 2020, relating to the common shares, par value $5.00 per share (the “Common Shares”), of Otter Tail Corporation (the “Issuer”). The information set forth in response to each separate Item below shall be deemed to be a response to all Items where such information is relevant. Information in the Schedule 13D remains in effect except to the extent that it is amended or