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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
National Steel Corp.
-----------------------------------------
(Name of Issuer)
Class B Common Stock
-----------------------------------------
(Title of Class of Securities)
637844309
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(CUSIP Number)
Check the following box if a fee is being paid with this statement [x].
(A fee is not required only if the filing person: (1) has a previous
statement on file reporting beneficial ownership of more than five
percent of the class of securities described in Item 1; and (2) has
no amendment subsequent thereto reporting beneficial ownership of five
percent or less of such class.) (See Rule 13d-7.)
*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))
Page 1 of 6 Pages
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CUSIP NO. 637844309 13G PAGE 2 OF 6 PAGES
1 NAME OF REPORTING PERSON
S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
UBS Asset Management (New York) Inc.
13-2725861
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
NOT APPLICABLE (a) [ ]
(b) [ ]
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
NEW YORK STATE
5 SOLE VOTING POWER
399,000
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY NONE
OWNED BY
EACH
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 919,000
8 SHARED DISPOSITIVE POWER
NONE
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
919,000
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.4%
12 TYPE OF REPORTING PERSON*
IA
*SEE INSTRUCTION BEFORE FILLING OUT!
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 10549
---------------------------------
SCHEDULE 13G UNDER THE SECURITIES
EXCHANGE ACT OF 1934
---------------------------------
Item 1. (a). Name of Issuer:
National Steel Corporation
(b). Address of Issuer's Principal Executive Offices:
4100 Edison Lakes Parkway
Mishawaka, IN 46545-3440
Item 2. (a). Name of Person Filing:
UBS Asset Management (New York) Inc.
(b). Address of Principal Business Office:
1211 Avenue of the Americas
New York, NY 10036-8796
Page 3 of 6 Pages
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Item 2. (c). Citizenship:
Incorporated in New York State
(d). Title of Class of Securities:
Class B Common Stock
(e). CUSIP Number:
637844309
Item 3. This statement is filed pursuant to Rule 13D-1(b) (2) by
an Investment Adviser registered under Section 203 of
the Investment Advisers Act of 1940.
Item 4. Ownership.
(a). Amount Beneficially Owned
919,000
(b). Percent of Class:
6.4%
(c). Number of Shares as to which UBS Asset Management (NY) has:
(i) sole power to vote or to direct the vote 399,000
(ii) shared power to vote or to direct the vote NONE
(iii) sole power to dispose or to direct the 919,000
disposition of
(iv) shared power to dispose or to direct the NONE
disposition of
Page 4 of 6 Pages
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Item 5. Ownership of Five Percent or Less of a Class:
If "Yes" is checked below, this statement is being filed to
report the fact that as of the date hereof UBS Asset
Management (New York) Inc. has ceased to be the beneficial
owner of more than 5% of the class of securities.
YES NO X
----- -----
Item 6. Ownership of More Than Five Percent on Behalf of Another
Person:
UBS Asset Management (New York) Inc. directs the holding
and/or voting of these securities on behalf of various
clients, who are entitled to receive dividends from, and the
proceeds from the sale of, such securities.
Item 7. Identification and Classification of Subsidiaries which
Acquired the Security Being Reported on by the Parent
Holding Company:
Not Applicable
Item 8. Identification and Classification of Members of the Group:
Not Applicable
Page 5 of 6 Pages
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Item 9. Notice of Dissolution of Group:
Not Applicable
Item 10. Certification:
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired
in the ordinary course of business and were not acquired for
the purpose of and do not have the effect of changing or
influencing the control of the issuer of such securities and
were not acquired in connection with or as a participant in
any transaction having such purpose or effect.
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.
UBS Asset Management (New York) Inc.
By: Kinne S. Yon
------------------------
Title: Managing Director
Dated: Holdings as of December 31, 1994
Page 6 of 6 Pages
