Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
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SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
STITCH FIX, INC.
(Name of Issuer)
Class A Common Stock
(Title of Class of Securities)
860897107
(CUSIP Number)
December 31, 2021
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
☐ Rule 13d-1(b)
☒ Rule 13d-1(c)
☐ Rule 13d-1(d)
* | The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. Beneficial ownership information contained herein is given as of the date listed above. |
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).
1 |
Names of Reporting Persons.
High Street Partners, Ltd. I.R.S. Identification Nos. of above persons (entities only) | |||||
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.
Cayman Islands |
Number of Shares Beneficially Owned by Each Reporting Person With |
5 | Sole Voting Power
0 shares | ||||
6 | Shared Voting Power
4,815,626 shares Refer to Item 4 below. | |||||
7 | Sole Dispositive Power
0 shares | |||||
8 | Shared Dispositive Power
4,815,626 shares Refer to Item 4 below. |
9 |
Aggregate Amount Beneficially Owned by Each Reporting Person
4,815,626 shares Refer to Item 4 below. | |||||
10 | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
☐ Not applicable.d | |||||
11 | Percent of Class Represented by Amount in Row (9)
5.8% Refer to Item 4 below. | |||||
12 | Type of Reporting Person (See Instructions)
OO |
1 |
Names of Reporting Persons.
Working Capital Partners, Ltd. I.R.S. Identification Nos. of above persons (entities only) | |||||
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.
Cayman Islands |
Number of Shares Beneficially Owned by Each Reporting Person With |
5 | Sole Voting Power
0 shares | ||||
6 | Shared Voting Power
6,272,748 shares Refer to Item 4 below. | |||||
7 | Sole Dispositive Power
0 shares | |||||
8 | Shared Dispositive Power
6,272,748 shares Refer to Item 4 below. |
9 |
Aggregate Amount Beneficially Owned by Each Reporting Person
6,272,748 shares Refer to Item 4 below. | |||||
10 | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
☐ Not applicable. | |||||
11 | Percent of Class Represented by Amount in Row (9)
7.5% Refer to Item 4 below. | |||||
12 | Type of Reporting Person (See Instructions)
OO |
1 |
Names of Reporting Persons.
Working Capital Advisors (UK) Ltd. I.R.S. Identification Nos. of above persons (entities only) | |||||
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.
United Kingdom |
Number of Shares Beneficially Owned by Each Reporting Person With |
5 | Sole Voting Power
0 shares | ||||
6 | Shared Voting Power
11,088,374 shares Refer to Item 4 below. | |||||
7 | Sole Dispositive Power
0 shares | |||||
8 | Shared Dispositive Power
11,088,374 shares Refer to Item 4 below. |
9 |
Aggregate Amount Beneficially Owned by Each Reporting Person
11,088,374 shares Refer to Item 4 below. | |||||
10 | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
☐ Not applicable. | |||||
11 | Percent of Class Represented by Amount in Row (9)
13.3% Refer to Item 4 below. | |||||
12 | Type of Reporting Person (See Instructions)
FI (Non-US Institution) |
1 |
Names of Reporting Persons.
Working Capital Management Pte. Ltd. I.R.S. Identification Nos. of above persons (entities only) | |||||
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.
Singapore |
Number of Shares Beneficially Owned by Each Reporting Person With |
5 | Sole Voting Power
0 shares | ||||
6 | Shared Voting Power
11,088,374 shares Refer to Item 4 below. | |||||
7 | Sole Dispositive Power
0 shares | |||||
8 | Shared Dispositive Power
11,088,374 shares Refer to Item 4 below. |
9 |
Aggregate Amount Beneficially Owned by Each Reporting Person
11,088,374 shares Refer to Item 4 below. | |||||
10 | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
☐ Not applicable. | |||||
11 | Percent of Class Represented by Amount in Row (9)
13.3% Refer to Item 4 below. | |||||
12 | Type of Reporting Person (See Instructions)
FI (Non-US Institution) |
1 |
Names of Reporting Persons.
Kenneth Chan I.R.S. Identification Nos. of above persons (entities only) | |||||
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.
Singapore |
Number of Shares Beneficially Owned by Each Reporting Person With |
5 | Sole Voting Power
0 shares | ||||
6 | Shared Voting Power
11,088,374 shares Refer to Item 4 below. | |||||
7 | Sole Dispositive Power
0 shares | |||||
8 | Shared Dispositive Power
11,088,374 shares Refer to Item 4 below. |
9 |
Aggregate Amount Beneficially Owned by Each Reporting Person
11,088,374 shares Refer to Item 4 below. | |||||
10 | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
☐ Not applicable. | |||||
11 | Percent of Class Represented by Amount in Row (9)
13.3% Refer to Item 4 below. | |||||
12 | Type of Reporting Person (See Instructions)
IN |
Item 1. | |
(a) Name | of Issuer |
Stitch Fix, Inc.
(b) Address of Issuers Principal Executive Offices
1 Montgomery Street
Suite 1500
San Francisco, CA 94104
Item 2. | |
(a) Name | of Person Filing |
This Amendment No. 2 to the Schedule 13G (this Amendment) is being filed by High Street Partners, Ltd. (High Street), Working Capital Partners, Ltd. (Working Capital Fund and together with High Street, the Private Funds), Working Capital Advisors (UK) Ltd. (the Investment Manager), Working Capital Management Pte. Ltd. (the Parent Company), and Kenneth Chan, who are collectively referred to as the Reporting Persons. Kenneth Chan is the sole owner of the Parent Company. The Parent Company is the sole owner of the Investment Manager. The Investment Manager serves as the investment manager to the Private Funds. The Reporting Persons have entered into a Joint Filing Agreement, dated as of October 8, 2021, a copy of which was filed with the Amendment No. 1 to the Schedule 13G filed by the Reporting Persons as Exhibit 99.1 (which is incorporated herein by reference), pursuant to which the Reporting Persons have agreed to file this statement jointly in accordance with the provisions of Rule 13d-1(k) under the Act.
(b) Address | of Principal Business Office or, if none, Residence |
The principal business office of the Reporting Persons with respect to the shares reported hereunder is:
Queripel House
Unit 2
1 Duke of York Square
London SW3 4LY
United Kingdom
(c) Citizenship |
High Street Partners, Ltd. Cayman Islands
Working Capital Partners, Ltd. Cayman Islands
Working Capital Advisors (UK) Ltd. United Kingdom
Working Capital Management Pte. Ltd. Singapore
Kenneth Chan Singapore citizen
(d) Title | of Class of Securities |
Class A Common Stock
(e) CUSIP | Number |
860897107
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 | ||
(d) |
☐ |
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8). | ||
(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 associations 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 §240.13d1(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 ** |
High Street Partners, Ltd. 4,815,626 shares
Working Capital Partners, Ltd. 6,272,748 shares
Working Capital Advisors (UK) Ltd. 11,088,374 shares
Working Capital Management Pte. Ltd. 11,088,374 shares
Kenneth Chan 11,088,374 shares
(b) | Percent of Class** |
High Street Partners, Ltd. 5.8%
Working Capital Partners, Ltd. 7.5%
Working Capital Advisors (UK) Ltd. 13.3%
Working Capital Management Pte. Ltd. 13.3%
Kenneth Chan 13.3%
(c) | Number of shares as to which such person has:** |
(i) sole power to vote or to direct the vote
High Street Partners, Ltd. 0 shares
Working Capital Partners, Ltd. 0 shares
Working Capital Advisors (UK) Ltd. 0 shares
Working Capital Management Pte. Ltd. 0 shares
Kenneth Chan 0 shares
(ii) | shared power to vote or to direct the vote |
High Street Partners, Ltd. 4,815,626 shares
Working Capital Partners, Ltd. 6,272,748 shares
Working Capital Advisors (UK) Ltd. 11,088,374 shares
Working Capital Management Pte. Ltd. 11,088,374 shares
Kenneth Chan 11,088,374 shares
(iii) | Sole power to dispose or to direct the disposition of |
High Street Partners, Ltd. 0 shares
Working Capital Partners, Ltd. 0 shares
Working Capital Advisors (UK) Ltd. 0 shares
Working Capital Management Pte. Ltd. 0 shares
Kenneth Chan 0 shares
(iv) | shared power to dispose or to direct the disposition of |
High Street Partners, Ltd. 4,815,626 shares
Working Capital Partners, Ltd. 6,272,748 shares
Working Capital Advisors (UK) Ltd. 11,088,374 shares
Working Capital Management Pte. Ltd. 11,088,374 shares
Kenneth Chan 11,088,374 shares
** | Shares reported herein for the Investment Manager, the Parent Company and Kenneth Chan represent Class A Common Stock beneficially owned and held of record by the Private Funds for which the Investment Manager serves as the investment manager. The Parent Company is the sole owner of the Investment Manager. Kenneth Chan is the sole owner of the Parent Company. |
Item 5. | Ownership of Five Percent or Less of a Class |
Not | applicable. |
Item 6. | Ownership of More than Five 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 |
Not | applicable. |
Item 8. | Identification and Classification of Members of the Group |
Not | applicable. |
Item 9. | Notice of Dissolution of Group |
Not | applicable. |
Item 10. | Certification |
By signing below, I certify that, to the best of my knowledge and belief, the securities referred to above were not 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.
Date: February 9, 2022
HIGH STREET PARTNERS, LTD. | ||
By: | /s/ Wai Keng Kwok | |
Wai Keng Kwok | ||
Director | ||
WORKING CAPITAL PARTNERS, LTD. | ||
By: | /s/ Wai Keng Kwok | |
Wai Keng Kwok | ||
Director | ||
WORKING CAPITAL ADVISORS (UK) LTD. | ||
By: | /s/ Wai Keng Kwok | |
Wai Keng Kwok | ||
Director | ||
WORKING CAPITAL MANAGEMENT PTE. LTD. | ||
By: | /s/ Wai Keng Kwok | |
Wai Keng Kwok | ||
Director | ||
KENNETH CHAN | ||
By: | /s/ Kenneth Chan |