SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(Amendment No. 1)(1)
AMERICAN RESIDENTIAL INVESTMENT TRUST, INC.
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(Name of Issuer)
Common Stock, $.01 par value
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(Title of Class of Securities)
02926T103
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(CUSIP Number)
Noah Klarish & Associates, P.C.
1 World Trade Center, 85th Floor
New York, NY 10048
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
October 15, 1999
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(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box
|_|.
Note. Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.
(1) 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 on 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 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>
CUSIP No. 02926T103 SCHEDULE 13D Page 2 of 7 Pages
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Aletheia Research and Management, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |x|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC, 00
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
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7 SOLE VOTING POWER
90,800
(Includes 42,000 shares held by Aletheia Hyperion, L.P.
and 48,800 shares held by Aletheia Metron, L.P. over
which the Reporting Person has voting power)
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NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 504,282
WITH
(Includes 42,000 shares held by Aletheia Hyperion, L.P.
48,800 shares held by Aletheia Metron, L.P., and
413,482 shares held by various accounts over which
Reporting Person has shared dispositive power.
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10 SHARED DISPOSITIVE POWER
413,482
Shares held by various accounts over which Reporting
Person has shared dispositive authority
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
504,282
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.26%
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14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Item 1. Security and Issuer.
This statement relates to the Common Stock, $.01 par value per share
(the "Common Stock"), of American Residential Investment Trust, Inc., a Maryland
corporation (the "Issuer"). The Issuer maintains its principal executive office
at 445 Marine View Avenue, Suite 230, Del Mar, CA 92014.
Item 2. Identity and Background.
(a) This statement is filed by Aletheia Research and Management,
Inc., a California corporation ("Aletheia Research and Management"), with
respect to (i) shares of the Issuer's Common Stock held in investment accounts
over which Aletheia Research and Management has dispositive authority, (ii)
shares of the Issuer's Common Stock held by Aletheia Hyperion, L.P., a Delaware
limited partnership ("Aletheia Hyperion") for whom Aletheia Research and
Management acts as general partner, and (iii) shares of the Issuer's Common
Stock held by Aletheia Metron, L.P., a Delaware limited partnership ("Aletheia
Metron") for whom Aletheia Research and Management acts as general partner.
Aletheia Research and Management shall sometimes be referred to herein as the
"Reporting Person."
(b) The Reporting Person filed an initial Schedule 13D for an event
of May 26, 1999 (the "Initial Schedule"). Except to the extent set forth in this
amendment, the information in the Initial Schedule remains unchanged.
Item 3. Source and Amount of Funds or Other Consideration.
Aletheia Research and Management has dispositive authority over
accounts which own 413,482 shares of the Issuer's Common Stock for which such
accounts paid a total of $3,072,171 from the personal funds of the beneficial
owners of such accounts. Aletheia Hyperion directly owns 42,000 shares of the
Issuer's Common Stock for which it paid $329,700 from its investment capital.
Aletheia Metron directly owns 48,800 shares of the Issuer's Common Stock for
which it paid $370,392 from its investment capital.
Item 5. Interest in Securities of the Issuer.
(a) The number of shares of the Issuer's Common Stock and the
percentage of the outstanding shares (based upon 8,055,500 shares outstanding as
reported in the Issuer's Quarterly Report on Form 10-Q for the quarter ended
June 30, 1999) directly beneficially owned by each Reporting Person is as
follows:
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<PAGE>
Percentage of
Name Number of Shares Outstanding Shares
- ---- ---------------- ------------------
Aletheia Hyperion 42,000 0.5%
Aletheia Metron 48,800 0.6%
Accounts over which 413,482 5.1%
Aletheia Research and
Management has
dispositive authority
(b) Aletheia Research and Management has sole power to vote 90,800
shares of the Issuer's Common Stock and sole power to dispose or to direct the
disposition of 504,282 shares of the Issuer's Common Stock.
(c) See Appendix A annexed hereto.
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<PAGE>
Signatures
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: October 20, 1999
ALETHEIA RESEARCH AND MANAGEMENT, INC.
By: /s/ Peter J. Eichler
-----------------------------------------
Peter J. Eichler, Chief Executive Officer
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<PAGE>
APPENDIX 1
TRANSACTIONS IN AMERICAN RESIDENTIAL INVESTMENT TRUST, INC.
COMMON STOCK WITHIN THE
PAST 60 DAYS
All transactions were open market purchases and the commissions are
included in the price of the shares.
1. Accounts over which the Reporting Person has Dispositive Authority.
TRADE NUMBER OF PURCHASE COST OF
DATE SHARES PRICE PER PURCHASES
---- PURCHASED SHARE ---------
--------- -----
9/1/99 262 $ 7.7252 $ 2,024.00
9/22/99 8,000 7.7381 61,904.80
9/23/99 5,000 8.0548 40,274.00
9/24/99 5,000 8.0986 40,493.00
9/27/99 4,000 8.2005 32,802.00
9/30/99 2,000 8.4920 16,984.00
10/4/99 5,000 8.5154 42,577.00
10/5/99 8,120 8.6515 70,250.00
10/6/99 4,000 8.5512 34,204.80
10/15/99 6,200 7.7460 48,025.20
----- ---------
47,582 $389,538.80
2. Aletheia Metron, L.P.
TRADE NUMBER OF PURCHASE COST OF
DATE SHARES PRICE PER PURCHASES
---- PURCHASED SHARE ----------
--------- -----
8/16/99 2,000 $ 7.175 $ 14,350.00
8/23/99 2,000 7.80 15,600.00
9/22/99 2,800 7.55 21,140.00
9/30/99 1,000 8.2375 8,237.50
9/30/99 1,000 8.3625 8,362.50
10/7/99 2,000 8.3625 16,725.00
------ ---------
10,800 $ 84,415.00
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<PAGE>
3. Aletheia Hyperion, L.P.
NUMBER OF PURCHASE
TRADE SHARES PRICE PER COST OF
DATE PURCHASED SHARE PURCHASES
---- --------- ----- ---------
10/4/99 2,000 $8.4875 $16,975.00
10/7/99 3,000 8.30 24,900.00
10/7/99 1,000 8.175 8,175.00
----- --------
6,000 $50,050.00
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