UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. )*
Warrantech Corp.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
934648304
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(CUSIP Number)
Check the following box if a fee is being paid with this statement / /. (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 filed 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).
Page 1 of 7 Pages
<PAGE>
CUSIP No. 934648304 13G Page 2 of 7 Pages
-------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO OF ABOVE PERSON
Kern Capital Management, LLC
13-3958232
--------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
--------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
SHARES BENEFICIALLY 690,000
OWNED BY -----------------------------------
EACH 6 SHARED VOTING POWER
REPORTING
PERSON WITH --
-----------------------------------
7 SOLE DISPOSITIVE POWER
690,000
-----------------------------------
8 SHARED DISPOSITIVE POWER
--
---------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
690,000
---------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
--
---------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.16%
---------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IA
---------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
CUSIP No. 934648304 13G Page 3 of 7 Pages
-------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO OF ABOVE PERSON
Robert E Kern Jr.
--------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
--------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
--------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
SHARES BENEFICIALLY 690,000 (See Schedule Item 4
OWNED BY Incorporated By Reference)
EACH -----------------------------------
REPORTING 6 SHARED VOTING POWER
PERSON WITH
--
-----------------------------------
7 SOLE DISPOSITIVE POWER
690,000 (See Schedule Item 4
Incorporated By Reference)
-----------------------------------
8 SHARED DISPOSITIVE POWER
--
---------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
690,000 (See Schedule Item 4 Incorporated By Reference)
---------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
--
---------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.16%
---------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IA, IN
---------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
CUSIP No. 934648304 13G Page 4 of 7 Pages
-------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO OF ABOVE PERSON
David G. Kern
--------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
--------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
--------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
SHARES BENEFICIALLY 690,000 (See Schedule Item 4
OWNED BY Incorporated By Reference)
EACH -----------------------------------
REPORTING 6 SHARED VOTING POWER
PERSON WITH
--
-----------------------------------
7 SOLE DISPOSITIVE POWER
690,000 (See Schedule Item 4
Incorporated By Reference)
-----------------------------------
8 SHARED DISPOSITIVE POWER
--
---------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
690,000 (See Schedule Item 4 Incorporated By Reference)
---------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
--
---------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.16%
---------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IA, IN
---------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
CUSIP NO. 934648304 SCHEDULE 13G Page 5 of 7 Pages
ITEM 1 (a) . NAME OF ISSUER:
Warrantech Corp.
ITEM 1 (b) . ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
300 Atlantic Street
Stamford, CT 06901
ITEM 2 (c) . NAME OF PERSON FILING:
Kern Capital Management, LLC ("KCM"), Robert E. Kern Jr.
(R. Kern) and David G. Kern (D. Kern). R. Kern, D. Kern are
Principals and controlling members of KCM.
ITEM 2 (b) . ADDRESS OR PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
The address of the principal business office of each reporting
person is 114 West 47th Street, Suite 1926, New York, NY
10036.
ITEM 2 (c) . CITIZENSHIP:
Reference is made to Item 4 of each of the cover page of this
Schedule, which Items are incorporated by reference herein.
ITEM 2 (d) . TITLE OF CLASS OF SECURITIES:
Common Stock
ITEM 2 (e) . CUSIP NUMBER:
934648304
ITEM 3 . THE PERSONS FILING THIS SCHEDULE, PURSUANT TO PARAGRAPH 240.13d-1(b)
ARE A:
(X) Investment Adviser registered under section 203 of the
Investment Advisers Act of 1940.
ITEM 4. OWNERSHIP:
Reference is made to Items 5-9 and 11 of cover pages which
Items are incorporated by reference herein.
R. Kern and D. Kern as controlling members of KCM may be
deemed the beneficial owner of the securities of the company
owned by KCM as of December 31, 1997 in that they might be
deemed to share the power to direct the voting or disposition
of the securities. Neither the filing of this Schedule nor any
of its contents shall be deemed to constitute an admission
that either R. Kern or D. Kern is, for any purpose, the
beneficial owner of any such securities to which this Schedule
relates, and such beneficial ownership is expressly denied.
ITEM 5. OWNERSHIP OF MORE THAN FIVE PERCENT OR LESS OF A CLASS:
Not applicable.
<PAGE>
Page 6 of 7 Pages
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:
The shares reported are held in institutional accounts for the
economic benefit of the beneficiaries of those accounts.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY 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.
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 SECUTITIES AND
WERE NOT ACQUIRED IN CONNECTION WITH OR AS A PARTICIPANT IN
ANY TRANSACTION HAVING SUCH PURPOSES 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.
2/13/98 /s/ John J. Crimmins
- -------------------- By: ------------------------------------
DATED John J. Crimmins
Senior Vice President
Chief Financial & Operations Officer
Kern Capital Management LLC
/s/ Robert E. Kern Jr.
By: ------------------------------------
Robert E. Kern Jr.
/s/ David G. Kern
By: ------------------------------------
David G. Kern
<PAGE>
CUSIP NO. 934648304 SCHEDULE 13G Page 7 of 7 Pages
EXHIBIT 1
AGREEMENT AS TO JOINT FILING OF SCHEDULE 13G
This agreement is made pursuant to Rule 13d-1(f)(1) under the Securities and
Exchange Act of 1934, as amended (the "Act"), by and among the parties listed
below, each referred to herein as "Joint Filer". The Joint Filers agree that a
statement of beneficial ownership as required by Section 13(d) of the Act and
the Rules thereunder may be filed on each of their behalf on Schedule 13G and
that said joint filing may thereafter be amended by further joint filings. The
Joint Filers state that they each satisfy the requirements for making a joint
filing under rule 13d-1.
2/13/98 /s/ John J. Crimmins
- -------------------- By: ------------------------------------
DATED John J. Crimmins
Senior Vice President
Chief Financial & Operations Officer
Kern Capital Management LLC
/s/ Robert E. Kern Jr.
By: ------------------------------------
Robert E. Kern Jr.
/s/ David G. Kern
By: ------------------------------------
David G. Kern
