UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Amendment No. 1)
Under the Securities Exchange Act of 1934*
Vanguard Natural Resources, LLC
-------------------------------
(Name of Issuer)
Common Units
------------
(Title of Class of Securities)
92205F106
---------
(CUSIP Number)
December 31, 2008
-----------------
(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)
[X] 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 on 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 (the "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. 92205F106 13G Page 2 of 10 Pages
------------------- ------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Third Point LLC
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ------ ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH ------ ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 0
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0%
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
OO
---------- ---------------------------------------------------------------------
------------------- ------------------
CUSIP No. 92205F106 13G Page 3 of 10 Pages
------------------- ------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Daniel S. Loeb
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
-------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ------ ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH ------ ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 0
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0%
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
IN
---------- ---------------------------------------------------------------------
------------------- ------------------
CUSIP No. 92205F106 13G Page 4 of 10 Pages
------------------- ------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Third Point Partners L.P.
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ------ ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH ------ ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 0
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0%
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
PN
---------- ---------------------------------------------------------------------
------------------- ------------------
CUSIP No. 92205F106 13G Page 5 of 10 Pages
------------------- ------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
BLRTQS Partnership
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
-------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ------ ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 114,500
EACH ------ ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 0
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
114,500
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
114,500
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.9%
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
PN
---------- ---------------------------------------------------------------------
------------------- ------------------
CUSIP No. 92205F106 13G Page 6 of 10 Pages
------------------- ------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Bradley L. Radoff
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
-------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ------ ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 114,500
EACH ------ ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 0
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
114,500
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
114,500
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.9%
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
IN
---------- ---------------------------------------------------------------------
This Amendment No. 1 to Schedule 13G (this "Amendment No. 1") is being
filed with respect to the common units (the "Common Units") of Vanguard Natural
Resources, LLC, a limited liability company formed under the laws of the State
of Delaware (the "Company"), to amend the Schedule 13G filed on February 14,
2008 (together with this Amendment No. 1, the "Schedule 13G") and is being filed
by Third Point LLC, a Delaware limited liability company (the "Management
Company"), Daniel S. Loeb, an individual ("Mr. Loeb"), Third Point Partners
L.P., a Delaware limited partnership ("Third Point Partners", and together with
the Management Company and Mr. Loeb, the "Third Point Reporting Persons"),
BLRTQS Partnership, a Texas general partnership ("BLRQTS"), and Bradley L.
Radoff, an individual ("Mr. Radoff", and together with BLRQTS, the "BLRQTS
Reporting Persons"). The Third Point Reporting Persons and the BLRQTS Reporting
Persons are hereinafter sometimes collectively referred to as the "Reporting
Persons." Capitalized terms used herein and not otherwise defined have the
meanings ascribed thereto in the Schedule 13G.
Item 4: Ownership:
------ ---------
Item 4 of the Schedule 13G is hereby amended and restated as follows:
The beneficial ownership of Common Units by the Reporting Persons, as of
December 31, 2008, is as follows:
A. Third Point LLC
---------------
(a) Amount beneficially owned: -0-
(b) Percent of class: 0%. The percentages used herein and in the rest of
this Schedule 13G are calculated based upon the 12,145,873 Common Units issued
and outstanding as of November 10, 2008, as reported in the Company's Quarterly
Report on Form 10-Q for the quarterly period ended September 30, 2008.
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: -0-
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: -0-
B. Daniel S. Loeb
--------------
(a) Amount beneficially owned: -0-
(b) Percent of class: 0%.
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: -0-
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: -0-
C. Third Point Partners, L.P.
--------------------------
(a) Amount beneficially owned: -0-
(b) Percent of class: 0%.
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: -0-
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: -0-
D. BLRTQS Partnership
------------------
-7-
(a) Amount beneficially owned: 114,500
(b) Percent of class: 0.9%
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 114,500
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 114,500
E. Bradley L. Radoff
-----------------
(a) Amount beneficially owned: 114,500
(b) Percent of class: 0.9%.
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 114,500
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 114,500
As a result of Mr. Radoff's status as an employee of the Management Company
and the relationship among Mr. Radoff, the Management Company and Mr. Loeb, the
Third Point Reporting Persons and the BLRTQS Reporting Persons may be deemed to
be a "group" under the Securities Exchange Act of 1934, as amended (the
"Exchange Act"), and, accordingly, each may be deemed to beneficially own the
shares of the Common Units beneficially owned by the others. Each of the Third
Point Reporting Persons disclaims beneficial ownership of the Common Units held
by the BLRTQS Reporting Persons and any pecuniary interest therein, and each of
the BLRTQS Reporting Persons disclaims beneficial ownership of the Common Units
held by the Third Point Reporting Persons and any pecuniary interest therein.
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 person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following: [X]
Item 10: Certification:
------- -------------
Each of the Reporting Persons hereby makes the following certification:
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired and are held in the
ordinary course of business and 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.
[Signatures on following page]
-8-
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 10, 2009
THIRD POINT LLC
By: Daniel S. Loeb, Chief Executive Officer
By: /s/ William Song
------------------------------------------
Name: William Song
Title: Attorney-in-Fact
DANIEL S. LOEB
By: /s/ William Song
------------------------------------------
Name: William Song
Title: Attorney-in-Fact
THIRD POINT PARTNERS LP
By: Third Point Advisors LLC, its General Partner
By: Daniel S. Loeb, Managing Member
By: /s/ William Song
------------------------------------------
Name: William Song
Title: Attorney-in-Fact
BLRTQS PARTNERSHIP
By: /s/ Bradley L. Radoff
------------------------------------------
Name: Bradley L. Radoff
Title: General Partner
/s/ Bradley L. Radoff
---------------------------------------------
Bradley L. Radoff
[Signature Page to Amendment No. 1 to 13G with respect to
Vanguard Natural Resources LLC]
EXHIBIT INDEX
-------------
Exhibit 99.3: Power of Attorney granted by Daniel S. Loeb in favor of James P.
Gallagher, William Song, Joshua L. Targoff and Bruce Wilson,
dated January 5, 2009, was previously filed with the SEC on
January 5, 2009 as an exhibit to Amendment No. 3 to Schedule 13G
filed by Third Point LLC, Third Point Offshore Fund, Ltd., Third
Point Offshore Master Fund, L.P., Third Point Advisors II L.L.C.
and Daniel S. Loeb with respect to Energy XXI (Bermuda) Limited
and is incorporated herein by reference.