SC 13D
13D FILING
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )
Avid Technology, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
05367P100
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(CUSIP NUMBER)
Daniele Beasley
Cove Street Capital LLC
2101 E El Segundo Boulevard
Suite 302
El Segundo, CA 90245
Tel No. 424.221.5897
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 2, 2015
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G
to report the acquisition that is the subject of this Schedule 13D, and
is filing this schedule because of 240.13d-1(e), 240.13d-1(f) or
240.13d-1(g), check the following box. [ ]
Note: Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See 240.13d-7
for other parties to whom copies are to be sent.
* The remainder of this coverage 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 disclosures provided in a prior cover page.
The information required on the remainder of this coverage 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: 05367P100
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1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE
PERSONS (ENTITIES ONLY)
Cove Street Capital, LLC I.R.S. IDENTIFICATION NO 27-5376591
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
N/A (b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
00
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(D) OR 2(E) [ ]
N/A
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 7 SOLE VOTING POWER O
SHARES ---------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 2,139,389
OWNED BY ---------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 0
REPORTING ---------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER 2,139,389
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,139,389
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.4%
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14 TYPE OF REPORTING PERSON
IA
Item 1. Security and Issuer
This statement on Schedule 13D relates to the Common Stock of Avid
Technology, Inc. The address of the Issuers principal executive
offices is:
75 Network Drive, Burlington, MA 01803
Item 2. Identity & Background
a) This statement on Schedule 13D is being filed pursuant to Rule 13d-1
under the Securities Exchange Act of 1934, as amended, by
Cove Street Capital, LLC (CSC).
b) The address of the principal office of Cove Street Capital, LLC is:
2101 E El Segundo Boulevard, Suite 302, El Segundo, CA 90245
c) The principal business of CSC is as an Investment Adviser.
d) CSC, nor any of its members has, during the last five years, been
convicted in a criminal proceeding (excluding traffic violations
or similar misdemeanors).
e) CSC, nor any of its members was, during the last five years, a party to
a civil proceeding of a judicial or administrative body of competent
jurisdiction and, as a result of such proceeding, was or is subject to
a judgment, decree or final order (1) enjoining future violations of, or
prohibiting or mandating activities subject to, federal or state securities
laws, or (2) finding any violation with respect to such laws.
f) Cove Street Capital, LLC, a Delaware limited liability company.
Item 3. Source and Amount of Funds or Other Consideration
CSC in its capacity as an Investment Adviser will purchase on behalf of its
clients. No monies are borrowed for such an acquisition.
Item 4. Purpose of Transaction
The Securities reported in this filing have been purchased and held for
investment purposes on behalf of client accounts in which CSC has discretionary
investment and voting power. CSC believes this is an attractive investment
opportunity and may engage in a constructive dialogue with officers, directors
and other representatives of the Issuer, as well as the Issuer's shareholders;
topics of discussion may include, but are not limited to, the Issuer's markets,
operations, competitors, prospects, strategy, personnel, directors, ownership
and capitalization. CSC may also enter into confidentiality or similar
agreements with the Issuer and, subject to such an agreement or otherwise,
exchange information with the Issuer. CSC, subject to applicable legal
requirements, may in the future acquire additional securities of the Issuer
on behalf of CSC's clients or dispose of some or all of CSC's current holdings
of the Securities in the ordinary course of CSC's business and the management
of its client accounts.
Item 5. Interest in Securities of the Issuer
a) & b) CSC has discretionary investment and voting power on 2,139,389 shares of
Common Stock which constitutes approximately 5.4% of 39,504,028 the shares
outstanding.
c) CSC has effected transactions, on behalf of its clients, in the following
shares of Common Stock in the last 60 days.
Date of Transaction Buy/Sell Share Amount Price Per Share
(average px)
10/12/2015 by 10000 8.43
10/13/2015 by 40000 8.58
11/11/2015 by 34150 6.04
11/12/2015 by 73464 6.44
11/24/2015 sl 570 6.47
11/25/2015 by 350 6.84
11/30/2015 by 120 7.47
Item 6. Contracts, Arrangements, Understandings or Relationships
with Respect to Securities of the Issuer.
Except as otherwise described in this Schedule 13D, there are no contracts,
arrangements, understandings, or relationships (legal or otherwise) among CSC,
or between any third party, with respect to any securities of the Issuer.
Item 7. Material to Be Filed as Exhibits
N/A
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: December 2, 2015
Cove Street Capital, LLC
By: /S/ Daniele Beasley
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Daniele Beasley, President & CCO