<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13G
Under the Securities Exchange Act of 1934
(Amendment No. __________)*
NM Holdings, Inc.
--------------------------------------
(Name of Issuer)
Common Stock
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(Title of Class of Securities)
629207 10 1
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(CUSIP Number)
N/A
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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)
[ ] Rule 13d-1(c)
[x] 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).
(continued on following page(s))
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Page 2 of 4 pages
SCHEDULE 13G
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CUSIP NO. 629207 10 1
---------------------------------
1. NAME OF REPORTING PERSON William L. Rush
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [___]
(b) [___]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
5. SOLE VOTING POWER 210,000. (1)
NUMBER OF -------
SHARES
BENEFICIALLY 6. SHARED VOTING POWER 0 .
OWNED BY ----
EACH
REPORTING 7. SOLE DISPOSITIVE POWER 210,000.(1)
PERSON -------
WITH
8. SHARED DISPOSITIVE POWER 0 .
---
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
210,000 shares
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[___]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
17.9%
12. TYPE OF REPORTING PERSON*
IN
(1) Includes 25,000 currently exercisable options.
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Page 3 of 4 pages
ITEM 1(a). Name of Issuer
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NM Holdings, Inc.
ITEM 1(b). Address of Issuer's Principal Executive Offices
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9850 51st Avenue North, Suite 110
Minneapolis, MN 55442
ITEM 2(a). Names of Persons Filing
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William L. Rush
ITEM 2(b). Address of principal business office
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9850 51st Avenue North, Suite 110
Minneapolis, MN 55442
ITEM 2(c). Citizenship
-----------
U.S. citizen
ITEM 2(d). Title of Class of Securities
----------------------------
Common Stock, par value $.01 per share
ITEM 2(e). CUSIP Number
------------
629207 10 1
ITEM 3. If this statement is filed pursuant to Rules 13d-1(b), or
13(d)-2(b), check whether the person filing it is a: Not
applicable
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ITEM 4. Ownership
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(a) Amount beneficially owned 210,000 .
---------
(b) Percent of class 17.9% .
------
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote See cover page.
---------------
(ii) shared power to vote or to direct the vote 0 .
---
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Page 4 of 4 pages
(iii) sole power to dispose or to direct the disposition of
See cover page.
---------------
(iv) shared power to dispose or to direct the disposition of 0.
---
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
---------------------------------------------------------------
Not applicable
ITEM 7. Identification and Classification of the Subsidiary Which Acquired
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the Security Being Reported on By the Parent Holding Company
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Not applicable
ITEM 8. Identification and Classification of Members of the Group
---------------------------------------------------------
Not applicable
ITEM 9. Notice of Dissolution of Group
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Not applicable
ITEM 10. Certification
-------------
Not applicable
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: February 12, 1999
/s/ William L. Rush
------------------------------
William L. Rush
