UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Purple Innovation, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
74640Y106
(CUSIP Number)
December 31, 2022
(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)
| * | 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 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 or 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).
| CUSIP No. 74640Y106 | Page 1 of 6 Pages |
| 1. | NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Schwartz Investment Counsel, Inc. ("SICI"), FEIN XX-XXX5495 and Schwartz Investment Trust ("SIT"), on behalf of its series Funds, Schwartz Value Focused Fund and FEIN XX-XXX6713, Ave Maria Value Fund, FEIN XX-XXX4145. |
|
| 2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP |
(a) [ ] (b) [ ] |
| 3. | SEC USE ONLY
|
|
| 4. | CITIZENSHIP OR PLACE OF ORGANIZATION
SICI - Michigan SIT - Ohio |
| NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
5. | SOLE VOTING POWER
SICI - 74,500 shares SIT- 1,584,490 shares |
| 6. | SHARED VOTING POWER
0 | |
| 7. | SOLE DISPOSITIVE POWER
SICI- 74,500 shares SIT- 1,584,490 shares | |
| 8. | SHARED DISPOSITIVE POWER
0 |
| 9. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SICI- 74,500 shares SIT- 1,584,490 shares
|
| Page 2 of 6 Pages |
| 10. | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUES CERTAIN SHARES [ ] |
|
| 11. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
SICI- 0.08% SIT- 1.73% |
|
| 12. | TYPE OF REPORTING PERSON
SICI - IA SIT - IV |
| Page 3 of 6 Pages |
| Item 1. | (a) | Name of Issuer Purple Innovation, Inc. |
| (b) | Address of Issuer’s Principal Executive Offices 4100 North Chapel Ridge Road, Suite 200 Lehi, Ut 84043 | |
| Item 2. | (a) | Name of Person Filing Schwartz Investment Counsel, Inc. ("SICI") and Schwartz Investment Trust ("SIT") |
| (b) | Address of Principal Business Office or, if none, Residence 801 W. Ann Arbor Trail, Suite 244 Plymouth, MI 48470 | |
| (c) | Citizenship: SICI-MI, SIT-OH | |
| (d) | Title of Class of Securities: Class A Common Stock | |
| (e) | CUSIP Number: 746406Y106 |
Item 3. If this statement is filed pursuant to (s)240.13d-1(b), or (s)240.13d-2(b), or (c), check whether the person filing is a:
| (d) | [X] | Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). | |
| (e) | [X] | An investment adviser in accordance with Section 240.13d-1(b)(1)(ii)(E). |
| 13G | Page 4 of 6 Pages |
Item 4. Ownership
| (a) | Amount Beneficially Owned: | SICI- 74,500 shares, SIT- 1,584,490 shares | |
| (b) | Percent of Class | SICI- 0.08%, SIT-1.73% | |
| (c) | Number of shares as to which such person has: | ||
| (i) | sole power to vote or to direct the vote | SICI- 74,500 shares, SIT- 1,584,490 shares | |
| (ii) | shared power to vote or to direct the vote | None | |
| (iii) | sole power to dispose or to direct the disposition of | SICI- 74,500 shares, SIT- 1,584,490 shares | |
| (iv) | shared power to dispose or to direct the disposition of | None | |
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].
| 13G | Page 5 of 6 Pages |
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
Not Applicable
Item 8. Identification and Classification of Members of the Group
Not Applicable
Item 9. Notice of Dissolution of Group
Not Applicable
| 13G | Page 6 of 6 Pages |
Item 10. Certification
(a) The following certification shall be included if the statement is filed pursuant to 240.13d-1(b):
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.
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.
| Date: | January 6, 2023 | Date: | January 6, 2023 | ||
| Signature: | /s/ George P. Schwartz | Signature: | /s/ George P. Schwartz | ||
| Name: | George P. Schwartz | Name: | George P. Schwartz | ||
| Title: | Chairman/Chief Executive Officer | Title: | President | ||
| Schwartz Investment Counsel, Inc. | Schwartz Investment Trust | ||||