In a 13D filing on Strategic Hotels & Resorts, Inc. (NYSE: BEE), Bill Gates' Cascade Investment disclosed a 5.63% stake (4,190,000 shares) in the company and changed their filing status from 13G (passive) to 13D (active). The firm changed their status due to recent market declines and will may now engance in discussions with the board of directors and management concerning the business and strategic direction. Gates' Cascade Investment showed a 5.23% stake (3,890,000 shares) in the August 13G filing. From the Filing:"As a result of recent declines in the market value of the Issuer’s Common Stock, the Reporting Persons expect to consider and evaluate on an ongoing basis all of their alternatives with respect to their investment in, and intentions with respect to, the Issuer. The Reporting Persons may engage in discussions with the Issuer’s board of directors and management concerning the business and strategic direction of the Issuer. The Reporting Persons also may engage in discussions with other shareholders of the Issuer to discuss matters of mutual interest, which may include discussions regarding the strategic direction of the Issuer and opportunities to enhance shareholder value."

8-19-08: In a 13D filing on Epicor Software (Nasdaq: EPIC), Elliott Associates disclosed a 9.9% stake (5,978,483 shares) in the company. Elliott disclosed that they have made inquiries of the company as to whether they have considered exploring strategic alternatives. They also reserve the right to hold further talks with management, the Board of Directors or others. Epicor Software Corporation designs, develops, markets, and supports enterprise application software solutions and services. Elliott Associates is a $9.8 billion New York-based hedge fund founded by Paul Singer. The fund has beaten the S&P 500 for 30 years. According to Bloomberg, sinces its launch in 1977, the fund has returned 14.7% a year after fees. Labels: Elliott Associates, EPIC, Epicor Software

8-18-08 In a 13D filing on Hill-Rom Holdings (NYSE: HRC), Richard Breeden's Breeden Capital disclosed a 5.25% stake (3,278,409 shares) in the company. Which is up from the 2,478,618 share stake held at the quarter ended 6/30/08. A 13D indicates a possible activist investment. In a pretty standard disclosure, Breeden didn't make any direct requests on the company, but said they will monitor the investment and may be in contact with members of management or the board or others about the investment. Hill-Rom Holdings, Inc. provides medical technologies and related services for the health care industry. Breeden Capital is a Greenwich, CT-based hedge fund founded by Richard Breeden, a former SEC chief turned activist investor. Richard Breeden was elected as Chairman of H&R Block (NYSE: HRB) after successfully pushing for changes at the embattled tax preparer.