Q Investments lowers stake in Cedar Fair

BLADE STAFF AND NEWS SERVICES

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Q Investments, the Texas hedge funds that engaged Cedar Fair LP management in several shareholder-rights battles over the last two years, has completed its plan to sharply decrease its holdings in the Sandusky-based amusement park company.

In December, Q Investments, led by Texas investor Geoffrey Raynor, said it would sell 3 million of its 10 million shares, relinquishing its position as Cedar Fair's largest shareholder, a spot it had held since early 2010. It sold about 1.1 million shares in mid-December.

Q Investments filed notice Thursday with the Securities and Exchange Commission that it had finished selling an additional 1.9 million shares, lowering its stake to 12.8 percent. Independent asset management firm Neubereger Berman Group LLC is now Cedar Fair's largest shareholder with just more than 8 million shares and a 14.6 percent stake.

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