Amended Statement of Ownership (sc 13g/a)
February 12 2021 - 6:18PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G/A
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
Forestar Group Inc.
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(Name of Issuer)
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Common Stock, par value $1.00 per share
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(Title of Class of Securities)
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346232101
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(CUSIP Number)
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December 31, 2020
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(Date of Event Which Requires Filing of this Statement)
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Check the appropriate box to designate the
rule pursuant to which this Schedule is filed:
o Rule
13d-1(b)
x Rule
13d-1(c)
o Rule
13d-1(d)
*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 the disclosures provided in a prior cover page.
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).
CUSIP No. 346232101
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SCHEDULE 13G/A
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Page 2
of 9 Pages
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1
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NAME OF REPORTING PERSONS
Long Pond Capital, LP
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) o
(b) o
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3
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SEC USE ONLY
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4
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CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
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5
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SOLE VOTING POWER
0
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6
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SHARED VOTING POWER
4,681,873
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7
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SOLE DISPOSITIVE POWER
0
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8
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SHARED DISPOSITIVE POWER
4,681,873
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9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,681,873
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10
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CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
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o
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11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.7% (See Item 4(b))
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12
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TYPE OF REPORTING PERSON
PN,IA
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CUSIP No. 346232101
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SCHEDULE 13G/A
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Page
3 of 9 Pages
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1
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NAME OF REPORTING PERSONS
Long Pond Capital GP, LLC
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) o
(b) o
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3
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SEC USE ONLY
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4
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CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
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5
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SOLE VOTING POWER
0
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6
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SHARED VOTING POWER
4,681,873
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7
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SOLE DISPOSITIVE POWER
0
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8
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SHARED DISPOSITIVE POWER
4,681,873
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9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,681,873
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10
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CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
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o
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11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.7% (See Item 4(b))
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12
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TYPE OF REPORTING PERSON
OO, HC
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CUSIP No. 346232101
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SCHEDULE 13G/A
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Page 4
of 9 Pages
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1
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NAME OF REPORTING PERSONS
John Khoury
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) o
(b) o
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3
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SEC USE ONLY
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4
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CITIZENSHIP OR PLACE OF ORGANIZATION
Canadian Citizen
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
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5
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SOLE VOTING POWER
0
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6
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SHARED VOTING POWER
4,681,873
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7
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SOLE DISPOSITIVE POWER
0
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8
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SHARED DISPOSITIVE POWER
4,681,873
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9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,681,873
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10
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CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
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o
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11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.7% (See Item 4(b))
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12
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TYPE OF REPORTING PERSON
IN, HC
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CUSIP No. 346232101
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SCHEDULE 13G/A
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Page 5
of 9 Pages
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1
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NAME OF REPORTING PERSONS
Long Pond U.S. Master, LP
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) o
(b) o
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3
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SEC USE ONLY
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4
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CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
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5
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SOLE VOTING POWER
0
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6
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SHARED VOTING POWER
3,187,966
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7
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SOLE DISPOSITIVE POWER
0
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8
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SHARED DISPOSITIVE POWER
3,187,966
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9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,187,966
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10
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CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
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o
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11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.6% (See Item 4(b))
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12
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TYPE OF REPORTING PERSON
PN
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CUSIP No. 346232101
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SCHEDULE 13G/A
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Page 6
of 9 Pages
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This Schedule 13G/A (this "Schedule
13G/A") is being filed on behalf of Long Pond Capital, LP, a Delaware limited partnership ("Long Pond LP"), Long Pond Capital
GP, LLC, a Delaware limited liability company ("Long Pond LLC"), John Khoury, the principal of Long Pond LP, and Long Pond
U.S. Master, LP, a Delaware limited partnership, relating to Common Stock, par value $1.00 per share ("Common Stock"), of
Forestar Group Inc. (the "Issuer").
This Schedule 13G/A relates to the Common
Stock of the Issuer purchased by Long Pond LP through the accounts of certain private funds, including Long Pond U.S. Master,
LP (collectively, the "Funds"). Long Pond LP serves as the investment manager to the Funds and may direct the vote and
disposition of the 4,681,873 shares of the Common Stock held by the Funds. Long Pond LLC serves as the general partner of
Long Pond LP and may direct Long Pond LP to direct the vote and disposition of the 4,681,873 shares of the Common Stock held
by the Funds. As the principal of Long Pond LP, Mr. Khoury may direct the vote and disposition of the 4,681,873 shares of the
Common Stock held by the Funds.
This Amendment amends and restates the Schedule 13G as set forth below.
Item 1.
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(a) Name of Issuer
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Forestar Group Inc.
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(b) Address of Issuer’s Principal
Executive Offices
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2221 E. Lamar Blvd., Suite 790
Arlington, Texas 76006
Item 2.
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(a) Name of Person Filing
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Long
Pond Capital, LP ("Long Pond LP"), Long Pond Capital GP,
LLC ("Long Pond LLC"), John Khoury, and Long Pond U.S. Master, LP.
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(b) Address
of Principal Business Office, or, if none, Residence
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527 Madison Avenue, 15th Floor
New York, NY 10022
Long
Pond LP is a limited partnership organized under the laws of the State of Delaware.Long Pond LLC is a limited liability company organized under
the laws of the State of Delaware. Mr. Khoury is the principal of Long Pond LP and is a Canadian citizen. Long Pond U.S. Master, LP is a limited
partnership organized under the laws of the State of Delaware.
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(d) Title of Class of Securities
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Common Stock, par value $1.00 per share
346232101
CUSIP
No. 346232101
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SCHEDULE 13G/A
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Page 7
of 9 Pages
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Item 3. If
this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), check whether the person filing is a:
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(a)
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¨
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Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
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(b)
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¨
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Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
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(c)
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¨
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Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
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(d)
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o
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Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
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(e)
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o
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An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);
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(f)
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¨
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An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);
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(g)
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o
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A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G);
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(h)
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¨
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A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
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(i)
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¨
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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);
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(j)
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¨
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A non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J);
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(k)
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¨
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A 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:
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CUSIP
No. 346232101
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SCHEDULE 13G/A
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Page
8 of 9 Pages
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Item
4. Ownership
(a)
Long Pond LP, Long Pond LLC and Mr. Khoury are the beneficial owners of 4,681,873 shares of the Common Stock. Long Pond U.S.
Master, LP is the beneficial owner of 3,187,966 shares of the Common Stock.
(b)
Long Pond LP, Long Pond LLC and Mr. Khoury are the beneficial owners of 9.7% of the outstanding shares of the Common Stock.
Long Pond U.S. Master, LP is the beneficial owner of 6.6% of the outstanding shares of the Common Stock. This percentage is
determined by dividing 4,681,873 and 3,187,966 respectively, by 48,06,643, the number of shares of the Common Stock issued
and outstanding as of December 31, 2020, as reported in the Issuer's most recent Form 10-Q filed on January 27, 2021.
(c) Long Pond LP, as the investment
manager of the Funds, may direct the vote and disposition of the 4,681,873 shares of the Common Stock held by the Funds. Long
Pond LLC, as the general partner of Long Pond LP, may direct it to direct the vote and disposition of the 4,681,873 shares
of the Common Stock held by the Funds. As the principal of Long Pond LP, Mr. Khoury may direct the vote and disposition of the
4,681,873 shares of the Common Stock held by the Funds.
Item
5. Ownership of Five Percent or Less of a Class
If
this statement is being filed to report the fact that as of the date hereof the Reporting Persons have ceased to be the beneficial
owners of more than five percent of the class of securities, check the following
o
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Item
6. Ownership of More Than Five Percent on Behalf of Another Person
The Funds have the right to receive or the power to direct the receipt of dividends from or the proceeds from the sale of
securities.
Item
7. Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent
Holding Company or Control Person
Inapplicable.
Item
8. Identification and Classification of Members of the Group
Inapplicable.
Item
9. Notice of Dissolution of Group
Inapplicable.
Item
10. Certifications
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.
CUSIP
No. 346232101
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SCHEDULE 13G/A
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Page 9
of 9 Pages
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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: February 12, 2021
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LONG
POND CAPITAL, LP
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By: Long Pond Capital GP, LLC, general partner
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By:
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/s/ John Khoury
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Name:
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John Khoury
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Title:
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Authorized Person
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LONG POND CAPITAL GP, LLC
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By:
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/s/ John Khoury
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Name:
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John Khoury
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Title:
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Authorized Person
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By:
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/s/John Khoury
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Name:
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John Khoury
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LONG POND U.S. MASTER, LP
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By: Long Pond Capital, LP, investment manager
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By:
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/s/ John Khoury
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Name:
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John Khoury
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Title:
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Authorized Person
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