Specialty Underwriters Alliance, Inc. - Statement of Ownership (SC 13G)
08 August 2008 - 4:00AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
____________
SCHEDULE
13G
Under
the
Securities Exchange Act of 1934
Specialty
Underwriters Alliance, Inc.
_______________________________________________________________
(Name
of
Issuer)
Common
Stock
_______________________________________________________________
(Title
of
Class of Securities)
84751T309
______________________________________________________________
(CUSIP
Number)
January
29, 2007
______________________________________________________________
(Date
of
Event Which Requires Filing of this Statement)
Check
the
appropriate box to designate the rule pursuant to which the Schedule is
filed:
o
Rule
13d-1(b)
x
Rule
13d-1(c)
o
Rule 13d-1(d)
1.
|
NAMES
OF REPORTING PERSONS
Duke
University
I.R.S.
IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
56-0532129
|
2.
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
o
(b)
x
|
3.
|
SEC
USE ONLY
|
4.
|
CITIZENSHIP
OR PLACE OF ORGANIZATION
North
Carolina
|
NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
5.
|
SOLE
VOTING POWER
525,000
|
6.
|
SHARED
VOTING POWER
253,175
|
7.
|
SOLE
DISPOSITIVE POWER
525,000
|
8.
|
SHARED
DISPOSITIVE POWER
253,175
|
9.
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
778,175
|
10.
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
o
|
11.
|
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.29%
|
12.
|
TYPE
OF REPORTING PERSON
OO
|
1.
|
NAMES
OF REPORTING PERSONS
The
Duke Endowment
I.R.S.
IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
56-0529965
|
2.
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
o
(b)
x
|
3.
|
SEC
USE ONLY
|
4.
|
CITIZENSHIP
OR PLACE OF ORGANIZATION
North
Carolina
|
NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
5.
|
SOLE
VOTING POWER
0
|
6.
|
SHARED
VOTING POWER
71,500
|
7.
|
SOLE
DISPOSITIVE POWER
0
|
8.
|
SHARED
DISPOSITIVE POWER
71,500
|
9.
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
71,500
|
10.
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
o
|
11.
|
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.49%
|
12.
|
TYPE
OF REPORTING PERSON
OO
|
1.
|
NAMES
OF REPORTING PERSONS
DUMAC,
LLC
I.R.S.
IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
65-1319939
|
2.
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
o
(b)
x
|
3.
|
SEC
USE ONLY
|
4.
|
CITIZENSHIP
OR PLACE OF ORGANIZATION
North
Carolina
|
NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
5.
|
SOLE
VOTING POWER
0
|
6.
|
SHARED
VOTING POWER
325,000
|
7.
|
SOLE
DISPOSITIVE POWER
0
|
8.
|
SHARED
DISPOSITIVE POWER
325,000
|
9.
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
325,000
|
10.
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
o
|
11.
|
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW 9
2.21%
|
12.
|
TYPE
OF REPORTING PERSON
IA
|
1.
|
NAMES
OF REPORTING PERSONS
Blackwell
Partners LLC
I.R.S.
IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
20-8075455
|
2.
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
o
(b)
x
|
3.
|
SEC
USE ONLY
|
4.
|
CITIZENSHIP
OR PLACE OF ORGANIZATION
Georgia
|
NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
5.
|
SOLE
VOTING POWER
0
|
6.
|
SHARED
VOTING POWER
325,000
|
7.
|
SOLE
DISPOSITIVE POWER
0
|
8.
|
SHARED
DISPOSITIVE POWER
325,000
|
9.
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
325,000
|
10.
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
o
|
11.
|
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW 9
2.21%
|
12.
|
TYPE
OF REPORTING PERSON
IV
|
1.
|
NAMES
OF REPORTING PERSONS
Employees’
Retirement Plan of Duke University
I.R.S.
IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
58-2255087
|
2.
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
o
(b)
x
|
3.
|
SEC
USE ONLY
|
4.
|
CITIZENSHIP
OR PLACE OF ORGANIZATION
North
Carolina
|
NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
5.
|
SOLE
VOTING POWER
91,000
|
6.
|
SHARED
VOTING POWER
0
|
7.
|
SOLE
DISPOSITIVE POWER
91,000
|
8.
|
SHARED
DISPOSITIVE POWER
0
|
9.
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
91,000
|
10.
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
o
|
11.
|
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.62%
|
12.
|
TYPE
OF REPORTING PERSON
EP
|
Item
1(a).
|
Name
of Issuer:
|
Specialty
Underwriters Alliance, Inc.
Item
1(b).
|
Address
of Issuer’s Principal Executive
Offices:
|
222
S.
Riverside Plaza
Chicago,
IL 60606
Item
2(b).
|
Name
of Person Filing:
|
Duke
University
The
Duke
Endowment
DUMAC,
LLC
Blackwell
Partners LLC
Employees’
Retirement Plan of Duke University
Item
2(b).
|
Address
of Principal Business
Office:
|
Duke
University
c/o
DUMAC, LLC
406
Blackwell Street, Suite 300
Durham,
NC 27701
The
Duke
Endowment
c/o
DUMAC, LLC
406
Blackwell Street, Suite 300
Durham,
NC 27701
DUMAC,
LLC
406
Blackwell Street, Suite 300
Durham,
NC 27701
Blackwell
Partners LLC
c/o
DUMAC, LLC
406
Blackwell Street, Suite 300
Durham,
NC 27701
Employees’
Retirement Plan of Duke University
c/o
DUMAC, LLC
406
Blackwell Street, Suite 300
Durham,
NC 27701
Duke
University
North
Carolina
The
Duke
Endowment
North
Carolina
DUMAC,
LLC
North
Carolina
Blackwell
Partners LLC
Georgia
Employees’
Retirement Plan of Duke University
North
Carolina
Item
2(d).
|
Title
of Class of Securities
|
Common
Stock, $0.01 par value
84751T309
Item
3.
|
If
this statement is filed pursuant to rule 240.13d-1(b) or 240.13d-2(b)
or
(c), check whetherthe person filing is
a:
|
(a)
|
___
|
Broker
or dealer registered under Section 15 of the Act.
|
|
|
|
(b)
|
___
|
Bank
as defined in Section 3(a)(6) of the Act.
|
|
|
|
(c)
|
___
|
Insurance
company as defined in Section 3(a)(19) of the Act.
|
|
|
|
(d)
|
___
|
Investment
company registered under Section 8 of the Investment Company Act
of
1940.
|
|
|
|
(e)
|
___
|
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)
|
___
|
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.
|
|
|
|
(j)
|
___
|
Group,
in accordance with Section
240.13d-1(b)(1)(ii)(J).
|
DUMAC,
LLC (“DUMAC”) is a North Carolina limited liability company formed by Duke
University and The Duke Endowment, a charitable trust established in 1924 by
James B. Duke, to provide the members and their affiliated entities with
investment management services on a not-for-profit basis. Duke University owns
approximately 74% of the membership interests in DUMAC, while The Duke Endowment
owns the remainder, or approximately 26%. As a result, Duke University is deemed
to control DUMAC. Blackwell Partners LLC (“Blackwell”) is a Georgia limited
liability company through which Duke University and the Duke Endowment make
certain of their segregated account investments. Each of Duke University, the
Duke Endowment and Blackwell receive investment management services from
DUMAC.
As
of the
date of this filing, Blackwell holds and beneficially owns 325,000 shares of
common stock of Specialty Underwriters Alliance, Inc. (“Specialty
Underwriters”), which constitutes approximately 2.21% of Specialty Underwriters’
outstanding common shares as reported in its Quarterly Report on Form 10-Q
filed
on May 12, 2008. DUMAC has been granted sole discretion over all investment
and
voting decisions for the shares held by Blackwell on behalf of Duke University
and The Duke Endowment. As a result, DUMAC shares beneficial ownership of these
325,000 shares with Blackwell.
The
Duke
Endowment owns approximately 22.0% of the membership interests of Blackwell.
As
a result, The Duke Endowment beneficially owns approximately 71,500 shares
of
Specialty Underwriters’ common stock held by Blackwell.
Duke
University owns approximately 77.9% of the membership interests of Blackwell
through its wholly-owned subsidiary, Gothic Corporation. As a result, Duke
University is deemed to control Blackwell and beneficially owns approximately
253,175 shares of Specialty Underwriters’ common stock held by Blackwell.
Additionally, as of the same date, Duke University directly holds and
beneficially owns 525,000 shares of common stock of Specialty Underwriters,
which constitutes approximately 3.57% of Specialty Underwrit
ers’
outstanding common shares.
The
Employees’ Retirement Plan of Duke University
directly
holds and beneficially owns 91,000 shares of Specialty Underwriters’ common
stock as of the same date, which constitutes approximately 0.62% of Specialty
Underwriters’ outstanding common shares. Both Duke University and the Employees’
Retirement Plan of Duke University have sole power to vote and to dispose of
the
shares each holds directly.
None
of
Duke University, The Duke Endowment, DUMAC, Blackwell nor the Employees’
Retirement Plan of Duke University individually owns more than five percent
of
Specialty Underwriters’ outstanding common stock; however, collectively they own
approximately 6.40% of Specialty Underwriters’ common stock. This Schedule 13G
has been filed for informational purposes to reflect that DUMAC makes investment
decisions for each of Duke University, The Duke Endowment, Blackwell and the
Employees’ Retirement Plan of Duke University.
Item
5.
|
Ownership
of Five Percent or Less of
Class
|
If
this
statement is being filed to report the fact that as of the date hereof the
reporting person has ceased to be the beneficial owner of more than 5 percent
of
the class of securities, check the following
o
.
Item
6.
|
Ownership
of More Than 5 Percent on Behalf of Another
Person
|
Not
applicable.
Item
7.
|
Identification
and Classification of the Subsidiary Which Acquired the Security
Being
Reported on by the Parent Holding Company or Control
Person
|
Not
Applicable.
Item
8.
|
Identification
and Classification of Members of the
Group
|
Not
Applicable.
Item
9.
|
Notice
of Dissolution of Group
|
Not
Applicable.
By
signing below I certify that, to the best of my knowledge and belief, the
securities referred to above were acquired and are not held for the purpose
of
or with the effect of changing or influencing the control of the issuer of
the
securities and were not acquired and are not held in connection with or as
a
participant in any transaction having that purpose or effect.
SIGNATURE
After
reasonable inquiry and to the best of my knowledge and belief, I certify that
the information set forth in this statement is true, complete and
correct.
DATED:
August 7, 2008
|
|
|
|
Duke
University
|
|
|
|
|
By:
|
/s/
Bart
J. Brunk
|
|
|
|
Title:
Controller,
DUMAC, LLC
|
|
|
|
|
DUMAC,
LLC
|
|
|
|
|
By:
|
/s/
Bart
J. Brunk
|
|
|
|
Title:
Controller,
DUMAC, LLC
|
|
|
|
|
Blackwell
Partners LLC
|
|
|
|
|
By:
|
/s/
Bart
J. Brunk
|
|
|
|
Title:
Controller,
DUMAC, LLC
|
|
|
|
|
The
Duke Endowment
|
|
|
|
|
By:
|
/s/
Bart
J. Brunk
|
|
|
|
Title:
Controller,
DUMAC,
LLC
|
|
|
|
|
Employees’
Retirement Plan of Duke University
|
|
|
|
|
By:
|
/s/
Bart
J. Brunk
|
|
|
|
Title:
Controller,
DUMAC, LLC
|
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