SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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. 2)(1)
U.S. TRUST CORP.
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
91288L105
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(CUSIP Number)
DAVID S. GOTTESMAN
FIRST MANHATTAN CO.
437 MADISON AVENUE
NEW YORK, NY 10022 212-756-3333
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
FEBRUARY 11, 2000
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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.
(Continued on following pages)
(Page 1 of 4 Pages)
- ----------
(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).
(SC13D-07/99)
<PAGE>
CUSIP No. 91288L105 13D Page 2 of 4 Pages
________________________________________________________________________________
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
DAVID S. GOTTESMAN
________________________________________________________________________________
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 PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [_]
________________________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
US
________________________________________________________________________________
7 SOLE VOTING POWER
NUMBER OF
1,000,600
SHARES _________________________________________________________________
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 12,505
_________________________________________________________________
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
1,000,600
PERSON _________________________________________________________________
10 SHARED DISPOSITIVE POWER
WITH
11,035
________________________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,000,600
________________________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[X]
________________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.36%
________________________________________________________________________________
14 TYPE OF REPORTING PERSON*
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 91288L105 13D Page 3 of 4 Pages
________________________________________________________________________________
Item 1. Security and Issuer.
This statement relates to the common stock, $1.00 par value, of
U.S. Trust Corp., 114 W. 47th Street, New York, NY 10036
________________________________________________________________________________
Item 2. Identity and Background.
(a) David S. Gottesman
(b) 437 Madison Avenue
New York, NY 10022
(c) General Partner of First Manhattan Co.,
437 Madison Avenue
New York, NY 10022
(d) During the last five years he has not been convicted in
any criminal proceeding.
(e) During the last five years he has not been a party to a
civil proceeding as a result of which he was or is subject
to the federal securities laws.
(f) U.S. Citizen
________________________________________________________________________________
Item 3. Source and Amount of Funds or Other Consideration.
$17,283,725.78 from personal funds, none of which was borrowed.
________________________________________________________________________________
Item 4. Purpose of Transaction.
The securities were acquired solely for investment purposes.
________________________________________________________________________________
Item 5. Interest in Securities of the Issuer.
(a) 1,000,600 shares 5.36%
(b) sole voting power 1,000,600 shares
sole dispositive power: 1,000,600 shares
(c) Mr. Gottesman effected the following sale transactions during the
past sixty (60) days:
Amt. of Price Where
Trade Date Securities Per Share Transacted
1/14/00 4,000 $ 136.96 All trades
1/14/00 6,000 $ 136.96 transacted on
1/14/00 6,000 $ 137.96 the NYSE.
1/14/00 4,000 $ 137.96
1/19/00 9,000 $ 134.43
1/19/00 8,000 $ 134.43
1/19/00 2,000 $ 134.43
1/19/00 6,000 $ 134.43
1/27/00 4,400 $ 125.96
1/27/00 5,600 $ 125.96
2/04/00 13,800 $ 124.59
2/04/00 16,600 $ 124.59
2/04/00 4,600 $ 124.59
2/07/00 35,000 $ 127.68
2/08/00 20,000 $ 130.66
2/08/00 12,000 $ 130.66
2/08/00 18,000 $ 130.66
2/11/00 7,200 $ 131.59
2/11/00 400 $ 131.59
2/11/00 1,200 $ 131.59
2/11/00 700 $ 131.59
2/11/00 4,000 $ 131.59
2/11/00 4,800 $ 131.59
2/11/00 4,200 $ 131.59
2/14/00 2,300 $ 131.54
2/17/00 30,000 $ 131.46
In addition, accounts of clients of First Manhattan Co. ("FMC") hold 12,505
shares of U.S. Trust Corp. as to which FMC may be deemed to share the power to
vote 12,505 shares and to share the power to dispose of 11,035 shares. Although
these shares could be deemed to be beneficially owned by Mr. Gottesman by virtue
of his position as a general partner of First Manhattan Co., Mr. Gottesman
disclaims beneficial ownership of such shares.
<PAGE> Page 4 of 4 Pages
________________________________________________________________________________
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
None
________________________________________________________________________________
Item 7. Material to be Filed as Exhibits.
None
________________________________________________________________________________
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.
2/17/00
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(Date)
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(Signature)
David S. Gottesman
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(Name/Title)
Attention. Intentional misstatements or omissions of fact constitute federal
criminal violations (see 18 U.S.C. 1001).
