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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934*
EXFO Inc. / EXFO inc.
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(Name of Issuer)
Subordinate Voting Shares, no par value
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(Title of Class of Securities)
302046107
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(CUSIP Number)
December 31, 2018
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[X] Rule 13d-1(b)
[_] Rule 13d-1(c)
[_] Rule 13d-1(d)
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* 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.
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CUSIP No.: 302046107 13G Page 2 of 11
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1 NAME OF REPORTING PERSON
Harold W. Berry III
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
North Carolina
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5 SOLE VOTING POWER
NUMBER OF SHARES --------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 1,347,961
EACH --------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH --------------------------------
8 SHARED DISPOSITIVE POWER
1,347,961
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,347,961
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.7%
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12 TYPE OF REPORTING PERSON
IN, HC
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CUSIP No.: 302046107 13G Page 3 of 11
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1 NAME OF REPORTING PERSON
Harber Asset Management LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
NUMBER OF SHARES --------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 1,347,961
EACH --------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH --------------------------------
8 SHARED DISPOSITIVE POWER
1,347,961
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,347,961
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.7%
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12 TYPE OF REPORTING PERSON
HC, CO
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CUSIP No.: 302046107 13G Page 4 of 11
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1 NAME OF REPORTING PERSON
Harber Capital LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
NUMBER OF SHARES --------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 1,347,961
EACH --------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH --------------------------------
8 SHARED DISPOSITIVE POWER
1,347,961
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,347,961
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.7%
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12 TYPE OF REPORTING PERSON
IA, CO
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CUSIP No.: 302046107 13G Page 5 of 11
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1 NAME OF REPORTING PERSON
Graham Growth Partners, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
NUMBER OF SHARES --------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 315,695
EACH --------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH --------------------------------
8 SHARED DISPOSITIVE POWER
315,695
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
315,695
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.3%
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12 TYPE OF REPORTING PERSON
PN
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CUSIP No.: 302046107 13G Page 6 of 11
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1 NAME OF REPORTING PERSON
Graham Institutional Partners, LP
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
NUMBER OF SHARES --------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 867,985
EACH --------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH --------------------------------
8 SHARED DISPOSITIVE POWER
867,985
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
867,985
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.7%
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12 TYPE OF REPORTING PERSON
PN
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CUSIP No.: 302046107 13G Page 7 of 11
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1 NAME OF REPORTING PERSON
Graham Partners, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
NUMBER OF SHARES --------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 164,281
EACH --------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH --------------------------------
8 SHARED DISPOSITIVE POWER
164,281
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
164,281
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.7%
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12 TYPE OF REPORTING PERSON
PN
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CUSIP No.: 302046107 13G Page 8 of 11
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ITEM 1(a). NAME OF ISSUER:
EXFO Inc.
ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
400 Godin Avenue
Quebec, Quebec G1M 2K2
Canada
ITEM 2(a). NAME OF PERSON FILING:
This Schedule 13G is being filed on behalf of the following
persons (the "Reporting Persons"):
(i) Harold W. Berry III ("Mr. Berry")
(ii) Harber Asset Management LLC ("HAM")
(iii) Harber Capital LLC ("Capital")
(iv) Graham Growth Partners, L.P. ("GRGR")
(v) Graham Institutional Partners, LP ("GRIP")
(vi) Graham Partners, L.P. ("GP")
ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE:
The principal business office of the Reporting Persons filing
this Schedule 13G is located at 780 Third Avenue, Suite 1500,
New York, New York 10017.
ITEM 2(c). CITIZENSHIP:
(i) Mr. Berry North Carolina
(ii) HAM Delaware limited liability company
(iii) Capital Delaware limited liability company
(iv) GRGR Delaware limited liability company
(v) GRIP Delaware limited liability company
(vi) GP Delaware limited liability company
ITEM 2(d). TITLE OF CLASS OF SECURITIES:
Subordinate Voting Shares
ITEM 2(e). CUSIP Number:
302046107
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CUSIP No.: 302046107 13G Page 9 of 11
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ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13d-1(b), or
13d-2(b) or (c) CHECK WHETHER THE PERSON FILING IS:
One of the following
(e) [X] An investment adviser in accordance with
Section 240.13d-1(b)(1)(ii)(E).
ITEM 4. OWNERSHIP:
The information in items 1 and 5 through 11 on the cover
page (p. 2) on this Schedule 13G is hereby incorporated
by reference.
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 owner of more than five percent of the class
of securities check the following. [_]
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
PERSON:
Not applicable
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT
HOLDING COMPANY:
Mr. Berry is the Managing Member of Harber Asset Management
LLC ("HAM") and Harber Capital LLC ("Capital"). Capital is
the Investment Manager and HAM is the General Partner of the
following limited partnerships, each of which owns less than
5% of the issuer's securities:
(i) Graham Growth Partners, L.P.
(ii) Graham Institutional Partners, LP
(iii) Graham Partners L.P.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF A GROUP:
Not applicable
ITEM 9. NOTICE OF DISSOLUTION OF GROUP:
Not applicable
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CUSIP No.: 302046107 13G Page 10 of 11
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ITEM 10. CERTIFICATION:
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.
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 14, 2019
GRAHAM GROWTH PARTNERS, L.P.*
By: Harold W. Berry III
/s/ Harold W. Berry III /s/ Harold W. Berry III
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Name: HAROLD W. BERRY III* Name: Harold W. Berry III
Title: Managing Member of the
General Partner
GRAHAM INSTITUTIONAL PARTNERS, LP* GRAHAM PARTNERS, L.P.*
By: Harold W. Berry III By: Harold W. Berry III
/s/ Harold W. Berry III /s/ Harold W. Berry III
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Name: Harold W. Berry III Name: Harold W. Berry III
Title: Managing Member of the Title: Managing Member of the
General Partner General Partner
HARBER ASSET MANAGEMENT LLC* HARBER CAPITAL LLC*
By: Harold W. Berry III By: Harold W. Berry III
/s/ Harold W. Berry III /s/ Harold W. Berry III
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Name: Harold W. Berry III Name: Harold W. Berry III
Title: Managing Member Title: Managing Member
* The Reporting Person disclaims beneficial ownership in the shares reported
herein except to the extent of its pecuniary interest therein.
EXHIBIT A
In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934,
as amended, each of the undersigned does hereby consent and agree to the
joint filing on behalf of each of them of a statement on Schedule 13G and all
amendments thereto with respect to the Common Stock of EXFO Inc. beneficially
owned by each of them, and the inclusion of this Joint Filing Agreement as an
exhibit thereto.
Dated: February 14, 2019
GRAHAM GROWTH PARTNERS, L.P.
By: Harold W. Berry III
/s/ Harold W. Berry III /s/ Harold W. Berry III
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Name: HAROLD W. BERRY III Name: Harold W. Berry III
Title: Managing Member of the
General Partner
GRAHAM INSTITUTIONAL PARTNERS, LP GRAHAM PARTNERS, L.P.
By: Harold W. Berry III By: Harold W. Berry III
/s/ Harold W. Berry III /s/ Harold W. Berry III
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Name: Harold W. Berry III Name: Harold W. Berry III
Title: Managing Member of the Title: Managing Member of the
General Partner General Partner
HARBER ASSET MANAGEMENT LLC HARBER CAPITAL LLC
By: Harold W. Berry III By: Harold W. Berry III
/s/ Harold W. Berry III /s/ Harold W. Berry III
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Name: Harold W. Berry III Name: Harold W. Berry III
Title: Managing Member Title: Managing Member