UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
SCHEDULE 13D/A
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1 )*
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THE ALPINE GROUP, INC.
(Name of Issuer)
COMMON STOCK, PAR VALUE $.10 PER SHARE
(Title of Class of Securities)
020825105
---------------------
(CUSIP Number)
ALEXANDRA INVESTMENT MANAGEMENT, LTD.
MIKHAIL A. FILIMONOV
DIMITRI SOGOLOFF
237 PARK AVENUE
NEW YORK, NEW YORK 10017
(212) 808-3780
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
November 21, 1997
------------------------
(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 which is the
subject of this Schedule 13D/A, and is filing this Schedule
because of Rule 13d-1(b)(3) or (4), check the following box [ ].
Check the following box if a fee is being paid
with the statement [ ].
Page 1 of 10 pages
<PAGE>
SCHEDULE 13D/A
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CUSIP No. 020825105 PAGE 2 of 10 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Alexandra Investment Management, Ltd.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF,OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(E) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
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NUMBER OF 7 SOLE VOTING POWER
SHARES 1,380,191 shares**
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BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY ------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
1,380,191 shares**
REPORTING ------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON WITH
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,380,191 shares**
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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)
8.10%
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14 TYPE OF REPORTING PERSON*
IA,CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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** Shares reported herein are also beneficially owned by other reporting
persons. See Item 5.
<PAGE>
SCHEDULE 13D/A
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CUSIP No. 020825105 PAGE 3 of 10 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Mikhail A. Filimonov
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF,OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(E) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.
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NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
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BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 1,380,191 shares**
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EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
1,380,191 shares**
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,380,191 shares**
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.10%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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** Shares reported herein are also beneficially owned by other reporting
persons. See Item 5.
<PAGE>
SCHEDULE 13D/A
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CUSIP No. 020825105 PAGE 4 of 10 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Dimitri Sogoloff
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF,OO
---------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(E) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.
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NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 1,380,191 shares**
------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
1,380,191 shares**
---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,380,191 shares**
---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.10%
---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
---------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------------
** Shares reported herein are also beneficially owned by other reporting
persons. See Item 5.
<PAGE>
ITEM 1. SECURITY AND ISSUER.
-------------------
This Statement constitutes Amendment No. 1 to that
certain Schedule 13D, dated May 28, 1997 (the "Original Schedule
13D") relating to the shares of Common Stock, $.10 par value per
share (the "Common Stock") of The Alpine Group, Inc., a Delaware
corporation (the "Company"). Certain capitalized terms used
herein have the respective meanings set forth in the Original
Schedule 13D. Except as expressly amended hereby, the statements
in the Original Schedule 13D remain unchanged.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
-------------------------------------------------
During the period from August 27, 1997 through and
including November 21, 1997 (the "Period"), the Adviser purchased
282,800 shares of Common Stock (the "Period Shares"). The Period
Shares were purchased by the Adviser with investment capital and
margin borrowings.
Item 4. Purpose of Transaction.
----------------------
The Adviser has acquired the Period Shares in the
ordinary course of business for investment. The Reporting
Persons may acquire additional shares of Common Stock from time
to time, in open market purchases, negotiated transactions or
otherwise, and may sell any or all of such shares of Common Stock
at any time.
-5-
<PAGE>
None of the Reporting Persons presently has any plans
or proposals which related to or would result in any of the
matters enumerated in clauses (a) through (j), inclusive, of Item
4 of Schedule 13D, namely: (a) the acquisition by any person of
additional securities of the Company or the disposition of
securities of the Company; (b) an extraordinary corporate
transaction, such as a merger, reorganization or liquidation,
involving the Company or any of its subsidiaries; (c) a sale or
transfer of a material amount of assets of the Company or any of
its subsidiaries; (d) any change in the present Board of
Directors or management of the Company, including any plans or
proposals to change the number or term of directors or to fill
any existing vacancies on the Board; (e) any material change in
the present capitalization or dividend policy of the Company; (f)
any other material change in the Company's business or corporate
structure; (g) changes in the Company's charter, bylaws or
instruments corresponding thereto or other actions which may
impede the acquisition of control of the Company by any person;
(h) causing a class of securities of the Company to be delisted
from a national securities exchange or to cease to be authorized
to be quoted in an inter-dealer quotation system of a registered
national securities association; (i) a class of equity securities
of the Company becoming eligible for termination of registration
pursuant to Section 12()(4) of the Exchange Act; or (j) any
action similar to any of those enumerated above.
-6-
<PAGE>
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
------------------------------------
(a) As of the date hereof, the Adviser may be deemed
to beneficially own 1,380,191 shares of Common Stock, comprising
approximately 8.10% of the approximately 17,037,007 shares of
Common Stock outstanding. In their capacities as principals of
the Adviser, such shares also may be deemed to be beneficially
owned indirectly to Messrs. Filimonov and Sogoloff.
(b) The Adviser, in its capacity as investment
adviser, may be deemed to have the power to vote or to dispose of
the 1,380,191 shares of Common Stock. In their capacities as
principals of the Adviser, Messrs. Filimonov and Sogoloff have
the shared power to direct the vote and disposition of such
shares within the meaning of Rule 13d-3 under the Exchange Act.
(c) Set forth on Schedule A hereto is a description of
all other transactions in the Common Stock effected by any of the
Reporting Persons between August 27, 1997 and November 21, 1997.
All such transactions consisted of open market purchases.
(d) No person is known to have the right to receive or
the power to direct the receipt of dividends from, or the
proceeds from the sale of, the shares of Common Stock, other than
such parties.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR
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RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER.
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-7-
<PAGE>
None.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
--------------------------------
None.
-8-
<PAGE>
SIGNATURES
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After reasonable inquiry and to the best of our
knowledge and belief, we certify that the information set forth
in this statement is true, complete and correct.
Date: November 25, 1997
ALEXANDRA INVESTMENT INVESTMENTS, L.P.
By: /s/ Mikhail A. Filimonov
--------------------------------
Mikhail A. Filimonov, Chairman
Chief Executive Officer
Chief Investment Officer
/s/ Mikhail A. Filimonov
-----------------------------------
MIKHAIL A. FILIMONOV
/s/ Dimitri Sogoloff
------------------------------------
DIMITRI SOGOLOFF
-9-
<PAGE>
SCHEDULE A
TRANSACTIONS IN COMMON STOCK OF THE ALPINE GROUP, INC.
The Adviser effected the following purchases of Common
Stock of the Company on the dates listed. All transactions were
open market purchases executed on an agency basis on the New York
Stock Exchange through various broker-dealers. Prices listed are
exclusive of commissions.
Purchase Date Number of Shares Price Per Share
------------- ---------------- ---------------
8/27/97 19,000 14.0395
8/28/97 10,000 13.8188
10/28/97 22,000 14.3213
10/31/97 16,000 14.6289
11/3/97 3,000 14.9792
11/5/97 10,000 16.7125
11/6/97 2,800 16.8750
11/7/97 47,000 16.6803
11/11/97 10,000 17.0625
11/12/97 10,000 16.5500
11/12/97 2,000 16.7500
11/17/97 3,000 17.0625
11/20/97 35,000 17.8393
11/20/97 75,000 18.6935
11/21/97 18,000 19.2146
Total 282,800
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