UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G/A
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Cypress Sharpridge Investments, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
23281A307
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(CUSIP Number)
December 31, 2009
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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:
[_] Rule 13d-1(b)
[X] Rule 13d-1(c)
[_] 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).
Page 1 of 9 pages
CUSIP No. 23281A307 13G Page 2 of 9 Pages
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1 NAME OF REPORTING PERSON
Talon Asset Management, LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
Not Applicable (b) [_]
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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
None
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NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,934,390
OWNED BY -----------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH None
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8 SHARED DISPOSITIVE POWER
1,934,390
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,934,390
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
Not Applicable [_]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
10.6%
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12 TYPE OF REPORTING PERSON*
IA
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CUSIP No. 23281A307 13G Page 3 of 9 Pages
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1 NAME OF REPORTING PERSON
Talon Sharpridge, LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
Not Applicable (b) [_]
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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
None
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NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 937,141
OWNED BY -----------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH None
-----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
937,141
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
937,141
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
Not Applicable [_]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.1%
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12 TYPE OF REPORTING PERSON*
OO
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Item 1(a) Name of Issuer:
Cypress Sharpridge Investments, Inc. (the "Issuer")
Item 1(b) Address of Issuer's Principal Executive Offices:
65 East 55th Street
New York, NY 10022
Item 2(a) Name of Persons Filing:
Talon Sharpridge, LLC ("Sharpridge")
Talon Asset Management, LLC, ("TAM"), the manager of
Sharpridge, Talon Sharpridge QP, LLC ("Sharpridge QP") and
Talon Opportunity Managers, LLC ("TOM"), which is the general
partner of Talon Opportunity Partners, L.P. ("TOP")
Item 2(b) Address of Principal Business Office:
TAM and Sharpridge both are located at:
One North Franklin Street, Suite 900
Chicago, Illinois 60606
Item 2(c) Citizenship:
TAM and Sharpridge are Delaware limited liability companies.
Item 2(d) Title of Class of Securities:
Common Stock
Item 2(e) CUSIP Number:
23281A307
Item 3 Type of Person:
(e) TAM is an investment adviser in accordance with Rule
13d-1(b)(1)(ii)(E); TAM is the manager of Sharpridge.
Page 4 of 9 Pages
Item 4 Ownership (at December 31, 2009):
(a) Amount owned "beneficially" within the meaning of rule
13d-3:
1,934,390 shares of common stock
(b) Percent of class:
10.6% (based on 18,215,528 shares of common stock
outstanding, as reported in the Issuer's 10-Q filed
October 22, 2009)
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: none
(ii) shared power to vote or to direct the vote:
1,934,390
(iii) sole power to dispose or to direct the disposition
of: none
(iv) shared power to dispose or to direct disposition of:
1,934,390
Item 5 Ownership of Five Percent or Less of a Class:
Not Applicable
Item 6 Ownership of More than Five Percent on Behalf of Another Person:
As reported herein, TAM, as the manager of Sharpridge,
Sharpridge QP and TOM, the general partner of TOP, holds
1,934,390 shares. This total includes 937,141 shares on behalf
of Sharpridge; 312,491 shares on behalf of Sharpridge QP;
90,000 shares on behalf of TOP; and 594,758 shares on behalf of
separately managed client accounts of TAM.
From time to time, TOP may make distributions of partnership
income to limited partners, none of which has an interest
relating to more than 5% of the class.
Item 7 Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company:
Not Applicable
Item 8 Identification and Classification of Members of the Group:
Not Applicable
Page 5 of 9 Pages
Item 9 Notice of Dissolution of Group:
Not Applicable
Item 10 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.
Page 6 of 9 Pages
Signature
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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.
Date: January 11, 2010
The undersigned, on the date above written, agrees and consents to the
joint filing on its behalf of this Schedule 13G in connection with its
beneficial ownership of the security reported herein.
TALON ASSET MANAGEMENT, LLC
/s/ William Wolf
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Signature
William Wolf/Chief Operating Officer
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Name/Title
TALON SHARPRIDGE, LLC
By: Talon Asset Management, LLC
Its Manager
/s/ William Wolf
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Signature
William Wolf/Chief Operating Officer
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Name/Title
Page 7 of 9 Pages
Exhibit Index
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Exhibit 1 Joint Filing Agreement dated as of January 11, 2010 by and among
Talon Asset Management, LLC and Talon Sharpridge, LLC
Page 8 of 9 Pages
EXHIBIT 1
JOINT FILING AGREEMENT
The undersigned hereby agree to the joint filing of the Schedule 13G to
which this Agreement is attached.
Dated: January 11, 2010
TALON ASSET MANAGEMENT, LLC
/s/ William Wolf
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Signature
William Wolf/Chief Operating Officer
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Name/Title
TALON SHARPRIDGE, LLC
By: Talon Asset Management, LLC
Its Manager
/s/ William Wolf
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Signature
William Wolf/Chief Operating Officer
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Name/Title