Investment-advisory firm Gamco Investors (GBL) wants the York, Pa.-based water company to redeem the rights for holders of preferred shares. Gamco will submit the proposal for inclusion in the company's proxy related to its 2010 annual meeting. Under the terms of the rights agreement, preferred-share owners are entitled to acquire shares of York Water's common stock at a 2-to-1 ratio -- for example, buying $50 in shares for $25. The rights are automatically redeemed by a poison pill that kicks in if a shareholder acquires 20% or more of York Water's common stock, but Gamco wants the rights redeemed regardless. York Water recently sold 1,070,000 shares at $14.50 per share in a secondary offering, increasing its outstanding share count by more than 9.35%. Gamco owns 105,150 common shares (0.85% of the total outstanding), though it is unclear how many preferred shares the firm owns.

Following a reverse merger between the oil-and-gas company and blank-check company Hicks Acquisition, billionaire Tom Hicks disclosed ownership of 11,002,367 shares (19.0%) and hedge fund SPO Advisory disclosed holdings of 16,646,525 shares (27.0%).

Gamco Investors disclosed it now owns 6,576,433 shares (5.93%). The firm spent approximately $150.3 million, or $22.85 per share, to acquire its holdings between Sept. 3 and Oct. 2.

Deep Water Holdings increased its stake to 9,085,054 shares (13.49%), after purchasing 457,782 shares from Sept. 10 to Sept. 15 at $7.43 to $8.75 each. The firm also purchased $80 million of 12% Cumulative Preferred Shares-Series A on Oct. 1.

McAndrews & Forbes, the investment vehicle for billionaire Ronald Perelman, increased its holdings to 14,659,344 shares (33.2%), after purchasing 3,851,969 shares on Sept. 30 at $6.24 per share. The holding company bought the stock from TransTech Pharma, a company in which it holds a majority stake. McAndrews & Forbes paid $6 million cash and issued a promissory note for approximately $18 million. The shares McAndrews purchased include 1,379,747 shares which TransTech Pharma had acquired at $1.90 per share via a warrant exercise on Sept. 30.

Vicuna Advisors decreased its ownership to 410,184 shares (4.5%), after selling 123,000 shares on Sept. 24 at $5.66 per share and distributing an additional 499,349 shares to investors to meet demand for withdrawals.

Key Colony Management reduced its stake to 1,119,373 shares (4.97%), after selling 426,078 shares from Aug. 25 to Oct. 1 at $6.27 to $7.60 each.

Tiger Global Management decreased its holdings to 3,491,928 (6.8%), after selling 943,856 shares between Sept. 16 and Sept. 22 at $26.37 to $26.51 per share.