<PAGE>1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Amendment No. 2)
Under the Securities Exchange Act of 1934
The Diana Corporation
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, Par Value $1.00
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(Title of Class of Securities)
252790100
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(CUSIP Number of Class of Securities)
Scot A. Rosenblum
WisdomTree Associates, L.P.
1633 Broadway, 38th Floor
New York, New York 10019
(212) 843-2782
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
Copies to:
Roger D. Blanc
Willkie Farr & Gallagher
153 East 53rd Street
New York, NY 10022
(212) 821-8000
September 9, 1996
- --------------------------------------------------------------------------------
(Date of Event which Requires
Filing of this Schedule)
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: |_|
Check the following box if a fee is being paid with this statement: |_|
<PAGE>2
SCHEDULE 13D
- --------------------------------- ------------------------------
CUSIP No. 252790100 Page 2 of 13 Pages
----------------------- ------- -------
- --------------------------------- ------------------------------
- ---- ---------------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
WisdomTree Capital Management, Inc. I.D. #13-3729429
- ---- ---------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
- ---- ---------------------------------------------------------------------------
3 SEC USE ONLY
- ---- ---------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- ---- ---------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) [ ]
- ---- ---------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -------------- --------- -------------------------------------------------------
7 SOLE VOTING POWER
0 shares of Common Stock
--------- -------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 251,450 shares of Common Stock
OWNED BY
EACH --------- -------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH
0 shares of Common Stock
--------- -------------------------------------------------------
10 SHARED DISPOSITIVE POWER
251,450 shares of Common Stock
- ---- ---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
251,450 shares of Common Stock
- ---- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- ---- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.0%
- ---- ---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- ---- ---------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>3
SCHEDULE 13D
- ----------------------------- ----------------------------------
CUSIP No. 252790100 Page 3 of 13 Pages
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- ----------------------------- ----------------------------------
- ---- ---------------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
WisdomTree Associates, L.P. I.D. #13-3729430
- ---- ---------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
- ---- ---------------------------------------------------------------------------
3 SEC USE ONLY
- ---- ---------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- ---- ---------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
- ---- ---------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -------------- --------- -------------------------------------------------------
7 SOLE VOTING POWER
0 shares of Common Stock
--------- -------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 219,900 shares of Common Stock
OWNED BY
EACH --------- -------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH
0 shares of Common Stock
--------- -------------------------------------------------------
10 SHARED DISPOSITIVE POWER
219,900 shares of Common Stock
- ---- ---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
219,900 shares of Common Stock
- ---- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- ---- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.4%
- ---- ---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- ---- ---------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>4
SCHEDULE 13D
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CUSIP No. 252790100 Page 4 of 13 Pages
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- ----------------------------------- ------------------------------
- ---- ---------------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
WisdomTree Offshore, Ltd.
- ---- ---------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
- ---- ---------------------------------------------------------------------------
3 SEC USE ONLY
- ---- ---------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- ---- ---------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
- -------------- --------- -------------------------------------------------------
7 SOLE VOTING POWER
0 shares of Common Stock
--------- -------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 31,550 shares of Common Stock
OWNED BY
EACH --------- -------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH
0 shares of Common Stock
--------- -------------------------------------------------------
10 SHARED DISPOSITIVE POWER
31,550 shares of Common Stock
- ---- ---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
31,550 shares of Common Stock
- ---- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- ---- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6%
- ---- ---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- ---- ---------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>5
SCHEDULE 13D
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CUSIP No. 252790100 Page 5 of 13 Pages
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1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jonathan L. Steinberg I.D. ####-##-####
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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
- ---- ---------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- ---- ---------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
- ---- ---------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -------------- --------- -------------------------------------------------------
7 SOLE VOTING POWER
0 shares of Common Stock
--------- -------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 251,450 shares of Common Stock
OWNED BY
EACH
REPORTING
PERSON WITH
--------- -------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0 shares of Common Stock
--------- -------------------------------------------------------
10 SHARED DISPOSITIVE POWER
251,450 shares of Common Stock
- ---- ---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
251,450 shares of Common Stock
- ---- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- ---- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.0%
- ---- ---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ---- ---------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>6
SCHEDULE 13D
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CUSIP No. 252790100 Page 6 of 13 Pages
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- ---------------------------------- ------------------------------
- ---- ---------------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Russell L. Anmuth I.D. ####-##-####
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
- ---- ---------------------------------------------------------------------------
3 SEC USE ONLY
- ---- ---------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- ---- ---------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -------------- --------- -------------------------------------------------------
7 SOLE VOTING POWER
100 shares of Common Stock
--------- -------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 251,450 shares of Common Stock
OWNED BY
EACH --------- -------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH
100 shares of Common Stock
--------- -------------------------------------------------------
10 SHARED DISPOSITIVE POWER
251,450 shares of Common Stock
- ---- ---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
251,550 shares of Common Stock
- ---- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- ---- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.0%
- ---- ---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ---- ---------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>7
This Amendment No. 2, dated September 25, 1996, to the Schedule 13,
dated January 22, 1996, as amendmed by Amendment No. 1, dated April 22, 1996,
filed on behalf of WisdomTree Associates, L.P. (the "Partnership"), WisdomTree
Capital Management, Inc. (the "General Partner"), WisdomTree Offshore, Ltd.
("WisdomTree Offshore"), Jonathan L. Steinberg ("Mr. Steinberg") and Russell L.
Anmuth ("Mr. Anmuth" and collectively, the "Reporting Entities"), relates to the
Common Stock, par value $1.00 per share (the "Common Stock"), of The Diana
Corporation, a Delaware corporation (the "Company"), and is being filed pursuant
to Rule 13d-2 under the Securities Exchange Act of 1934, as amended.
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 is hereby amended and restated as set forth below:
Of the 219,900 shares of Common Stock acquired by the Partnership (the
"Partnership Purchases"), 210,650 shares were acquired in brokered transactions
for an aggregate purchase price of $2,348,439.97 and 9,250 shares were acquired
pursuant to a five percent stock dividend payable on January 5, 1996 to
shareholders of record on December 18, 1995. The 31,550 shares of Common Stock
purchased by WisdomTree Offshore (the "Offshore Purchases") were acquired in
brokered transactions for an aggregate purchase price of $846,530.70. The 100
shares of Common Stock acquired by Mr. Anmuth were acquired in brokered
transactions for an aggregate purchase price of $2,466.
The source of funds for the Partnership Purchases was investment
capital contributed by the Partnership. The source of funds for the Offshore
Purchases was investment capital contributed by WisdomTree Offshore. The source
of funds for the shares purchased by Mr. Anmuth was personal funds contributed
by Mr. Anmuth.
Item 5. Interest in Securities of the Issuer.
Item 5 is hereby amended and restated as set forth below:
(a) As of September 24, 1996, the Partnership beneficially owned a
total of 219,900 shares of the Common Stock of the Company, the General Partner
beneficially owned a total of 251,450 shares of the Common Stock of the Company,
WisdomTree Offshore beneficially owned a total of 31,550 shares of the Common
Stock of the Company, Mr. Steinberg beneficially owned a total of 251,450 shares
of the Common Stock of the Company and Mr. Anmuth beneficially owned a total of
251,550 shares of the Common Stock of the Company, constituting 4.4%, 5.0%,
0.6%, 5.0% and 5.0%, respectively, of the shares of Common Stock then
outstanding, based on 5,028,590 shares of Common Stock reported to be
outstanding as disclosed in the Company's quarterly report on Form 10-Q the
quarter ended July 20, 1996. As of September 24, 1996, the Reporting Entities
beneficially owned a total of 251,550 shares of the Common Stock of the Company,
constituting 5.0% of the shares of Common Stock then outstanding. To the best
of the knowledge of the Reporting Entities, none of the individuals listed on
Schedule A, with the exception of Mr. Steinberg and Mr. Anmuth, beneficially
owns any shares of the Common Stock of the Company, except pursuant to their
interests in the Partnership, the General Partner and WisdomTree Offshore.
(b) The Partnership, the General Partner, Mr. Steinberg and Mr. Anmuth
share voting and dispositive power with respect to 219,900 shares of Common
Stock. WisdomTree Offshore, the General Partner, Mr. Steinberg and Mr. Anmuth
share voting and dispositive power with respect to 31,550 shares of Common
Stock. Mr. Anmuth has sole voting and dispositive power with respect to 100
shares of Common Stock. To the best of the knowledge of the Reporting Entities,
none of the individuals listed on Schedule A, with the exception of Mr.
Steinberg and Mr. Anmuth, has any voting or dispositive power with respect to
shares of Common Stock.
<PAGE>8
(c) Information concerning transactions in Common Stock effected by
the Reporting Entities during the past 60 days is set forth in Schedule B hereto
and is incorporated by reference. Except as set forth in Schedule B, no
transactions in Common Stock have been effected by any of the Reporting Entities
or, to the best of the knowledge of the Reporting Entities, by any of the
persons identified in Schedule A during the past 60 days.
(d) Not applicable.
(e) Not applicable.
<PAGE>9
SCHEDULE A
The following table sets forth the name and principal employment of
each of the officers and directors of WisdomTree Capital Management, Inc.,
Individual Investor Group, Inc. and WisdomTree Offshore, Ltd., as well as the
business address of each director of such entities not employed by such
entities.
WisdomTree Capital
Management, Inc. Position
- ------------------ --------
Jonathan L. Steinberg Chairman, Chief Executive
Officer, Treasurer and Director
Robert Schmidt President and Director
Scot Rosenblum Vice President, Secretary and
Director
Russell Anmuth Vice President
Individual Investor
Group, Inc. Position
- -------------------- --------
Jonathan L. Steinberg Chairman, Chief Executive
Officer and Director
Robert Schmidt President, Chief Operating
Officer and Director
Scot Rosenblum Vice President, Secretary and
Director
Henry Clark Controller and Assistant
Secretary
Peter M. Ziemba Assistant Secretary
Bruce Sokoloff Director; Executive Vice
President, Reliance Group
Holdings, Inc., 55 East 52nd
Street, New York, New York 10055
WisdomTree Offshore, Ltd. Position
- ------------------------- --------
Jonathan L. Steinberg Vice President
Scot Rosenblum Chairman, Vice President and Director
<PAGE>10
Christopher Wetherhill President and Director; Chief
Executive Officer, The
Hemisphere Group Limited,
Hemisphere House, 9 Church
Street, Hamilton, Bermuda
Charles Quin Director; Partner, Quin &
Hampson, George Town, Grand
Cayman, Cayman Islands.
<PAGE>11
SCHEDULE B
The Partnership
- ---------------
1. On August 22, 1996, the Partnership sold 10,000 shares of Common Stock
of the Company in brokered transactions at a price of $33.30 per
share.
2. On September 9, 1996, the Partnership sold 10,000 shares of Common
Stock of the Company in brokered transactions at a price of $46.84 per
share.
3. On September 12, 1996, the Partnership sold 2,100 shares of Common
Stock of the Company in brokered transactions at a price of $45.17 per
share.
WisdomTree Offshore
- -------------------
1. On July 25, 1996, WisdomTree Offshore purchased 950 shares of Common
Stock of the Company in brokered transactions at a price of $23.80 per
share.
2. On July 29, 1996, WisdomTree Offshore purchased 5,000 shares of Common
Stock of the Company in brokered transactions at a price of $24.11 per
share.
3. On September 12, 1996, WisdomTree Offshore sold 2,800 shares of Common
Stock of the Company in brokered transactions at a price of $45.18 per
share.
Mr. Anmuth
- ----------
1. On August 21, 1996, Mr. Anmuth purchased 100 shares of Common Stock of
the Company in brokered transactions at a price of $24.66 per share.
<PAGE>12
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: September 25, 1996 WISDOMTREE ASSOCIATES, L.P.
By: WisdomTree Capital
Management, Inc.,
General Partner
By:/s/ Scot A. Rosenblum
Name: Scot A. Rosenblum
Title: Vice President
Dated: September 25, 1996 WISDOMTREE CAPITAL
MANAGEMENT, INC.
By:/s/ Scot A. Rosenblum
Name: Scot A. Rosenblum
Title: Vice President
Dated: September 25, 1996 WISDOMTREE OFFSHORE, LTD.
By:/s/ Scot A. Rosenblum
Name: Scot A. Rosenblum
Title: Director
Dated: September 25, 1996 By:/s/ Jonathan L. Steinberg
-------------------------
Jonathan L. Steinberg
Dated: September 25, 1996 By:/s/ Russell L. Anmuth
---------------------
Russell L. Anmuth
