George Economou recently revealed that they own a 28.2% stake in DryShips Inc. (NASDAQ:DRYS) in a Schedule 13D/A disclosure that was filed with the SEC on Wednesday, January 13th.
The investor owns 218,067,177 shares of the stock worth approximately $23,485,835. The reporting parties listed on the disclosure included George Economou, Sifnos Shareholders Inc, Elios Investments Inc, Fabiana Services SA, Sphinx Investment Corp, Goodwill Shipping Company Limited and Entrepreneurial Spirit Holdings Inc.
George Economou provided the following explanation of their ownership:
This Amendment Number 17 is being filed to report the issuance of shares of Series B Preferred Stock to Sifnos on December 30, 2015. Other than as described above, there are no material changes from the Schedule 13D/A filed with the Commission on February 4, 2015.
Separately, Creative Planning raised its stake in shares of DryShips by 72.5% in the fourth quarter. Creative Planning now owns 240,802 shares of the company’s stock worth $42,000 after buying an additional 101,200 shares in the last quarter.