<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)
Summit Holding Southeast, Inc.
(Name of Issuer)
Common Stock, $.01 par value
(Title of Class of Securities)
866078108
(CUSIP Number)
Daniel S. Loeb
Third Point Management Company L.L.C.
277 Park Avenue, 26th Floor
New York, New York
10172
(212) 350-5170
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 29, 1997
(Date of Event which Requires Filing this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
1
<PAGE>
SCHEDULE 13D
CUSIP No. 866078108
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Third Point Management Company L.L.C.
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
Not Applicable a[ ]
b[ ]
3. SEC USE ONLY
4. SOURCE OF FUNDS*
OO
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
7. SOLE VOTING POWER
None
8. SHARED VOTING POWER
NUMBER OF
SHARES
BENEFICIALLY 549,600
OWNED BY
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON None
WITH
10. SHARED DISPOSITIVE POWER
549,600
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
549,600
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.5%
14. TYPE OF REPORTING PERSON*
00
2
<PAGE>
SCHEDULE 13D
CUSIP No. 866078108
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Daniel S. Loeb
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
Not Applicable a[ ]
b[ ]
3. SEC USE ONLY
4. SOURCE OF FUNDS*
OO
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
7. SOLE VOTING POWER
None
8. SHARED VOTING POWER
NUMBER OF
SHARES
BENEFICIALLY 549,600
OWNED BY
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON None
WITH
10. SHARED DISPOSITIVE POWER
549,600
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
549,600
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.5%
14. TYPE OF REPORTING PERSON*
IN
3
<PAGE>
SCHEDULE 13D
CUSIP No. 866078108
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Third Point Partners L.P.
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
Not Applicable a[ ]
b[ ]
3. SEC USE ONLY
4. SOURCE OF FUNDS*
OO
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
7. SOLE VOTING POWER
None
8. SHARED VOTING POWER
NUMBER OF
SHARES
BENEFICIALLY 261,740
OWNED BY
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON None
WITH
10. SHARED DISPOSITIVE POWER
261,740
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
261,740
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.5%
14. TYPE OF REPORTING PERSON*
PN
4
<PAGE>
This statement amends and supplements the information set forth in the
Schedule 13D (the "Schedule 13D") filed by the Reporting Persons (as defined
therein) with the Securities and Exchange Commission on June 2, 1997, as amended
by Amendment No. 1 ("Amendment No. 1"), and constitutes Amendment No. 2 to the
Schedule 13D. Capitalized terms used herein without definition shall have the
meaning assigned to such terms in the Schedule 13D.
Item 2. Identity and Background
The first sentience of the second paragraph of Item 2 is revised and
amended in its entirety as set forth below.
Third Point L.L.C. serves as discretionary investment manager to each
of (1) Third Point Partners, (2) Third Point Offshore Fund, Ltd., a Cayman
Islands exempted company with limited liability, (3) Points West International
Investments Limited, a British Virgin Islands corporation and (4) certain
additional institutional accounts (collectively, the "Accounts").
Item 3. Sources and Amounts of Funds or Other Consideration
The first sentence of Item 3 is revised and amended in its entirety as
set forth below.
The Accounts expended an aggregate of approximately $10,996,087
(including brokerage commissions, if any) to purchase the 549,600 shares of
Common Stock held by them.
Item 5. Interest in Securities of the Issuer
Item 5 is revised and amended in its entirety as set forth below.
(a)-(b) On the date of this Statement:
5
<PAGE>
(i) Mr. Loeb has beneficial ownership for purposes of Section 13(d) of
the Securities Exchange Act of 1934 ("Beneficial Ownership") of 549,600 shares
of Common Stock by virtue of his position as the managing member of Third Point
L.L.C. Such shares represent 9.5% of the issued and outstanding Common Stock.
Mr. Loeb shares voting power and dispositive power over the Common Stock with
Third Point L.L.C., and with Third Point Partners to the extent Third Point
Partners has Beneficial Ownership of shares of Common Stock.
(ii) Third Point L.L.C. has Beneficial Ownership of 549,600 shares of
Common Stock by virtue of its position as the investment manager to The
Accounts. Such shares represent 9.5% of the issued and outstanding Common Stock.
Third Point L.L.C. shares voting power and dispositive power over the Common
Stock with Mr. Loeb, and with Third Point Partners to the extent Third Point
Partners has Beneficial Ownership of shares of Common Stock.
(iii) Third Point Partners has Beneficial Ownership of 261,740 shares
of Common Stock. Such shares represent 4.5% of the issued and outstanding Common
Stock. Third Point Partners shares voting power and dispositive power over the
Common Stock held by it with Third Point L.L.C. and Mr. Loeb.
The percentages used herein are calculated based upon the 5,791,100
shares of Common Stock stated to be issued and outstanding at October 31, 1997,
as reflected in the Company's report on Form 10-Q for the quarter ended
September 30, 1997.
6
<PAGE>
(c) The trading dates, number of shares purchased or sold and price
per share (including commissions, if any) for all transactions by the Reporting
Persons since the filing of Amendment No. 1 are set forth in Schedule I hereto.
All such transactions were over-the-counter transactions.
(d) No person other than each of the Accounts and their respective
limited partners, shareholders or account holders is known to have the right to
receive or the power to direct the receipt of dividends from or the proceeds of
sale of shares of Common Stock.
(e) On November 17, 1997, Third Point Partners ceased to be the
beneficial owner of more than five percent of the Common Stock and thus will no
longer be deemed a Reporting Person so long as its beneficial ownership does not
exceed five percent of the Common Stock.
Item 7. Material to be Filed as Exhibits
The Joint Filing Agreement among the Reporting Persons filed as
Exhibit 99 to the Schedule 13D is hereby incorporated by reference.
7
<PAGE>
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.
Dated: January 6, 1998
THIRD POINT MANAGEMENT COMPANY L.L.C.
By: /s/ Daniel S. Loeb
_______________________________
Name: Daniel S. Loeb
Title: Managing Member
/s/ Daniel S. Loeb
________________________________________
Daniel S. Loeb
THIRD POINT PARTNERS L.P.
By: THIRD POINT ADVISORS L.L.C.,
its General Partner
By: /s/ Daniel S. Loeb
________________________
Name: Daniel S. Loeb
Title: Managing Member
8
<PAGE>
Schedule I
----------
A. Purchases
Date Shares Purchased Price Per Share
- ---- ---------------- ---------------
7/16/97 12,000 $18.625
7/17/97 3,000 18.625
10/2/97 18,000 20.500
10/2/97 5,000 20.125
10/6/97 28,000 20.375
10/6/97 5,000 20.500
10/28/97 7,500 15.250
11/14/97 20,000 19.750
11/17/97 69,860 21.125
12/29/97 1,000 20.875
12/29/97 52,900 20.625
B. Sales
Date Shares Sold Price Per Share
- ---- ----------- ---------------
9/18/97 25,000 $20.000
10/6/97 28,000 20.375
11/17/97 69,860 21.125
9
