UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
The Vanguard Group
Gemini II Inc. (Closed End Fund)
--------------------------------
(Name of Sponsor)
Capital Shares, $1.00 par value
-------------------------------
(Title of Class of Securities)
368904108
---------
(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>
- ------------------------- ---------------------------
|CUSIP NO. 368904108 | 13G | Page 1 of 3 Pages |
| ----------- | | --- --- |
- ------------------------- ---------------------------
|--------|---------------------------------------------------------------------|
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | Boston Partners Asset Management, L.P. |
| | 04-327-0358 |
|--------|---------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] |
| | (b) [ ] |
| | Not applicable |
|--------|---------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|--------|---------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | Delaware |
|--------|-----------------|--------|------------------------------------------|
| | 5 | SOLE VOTING POWER |
| | | 0 shares |
| NUMBER OF |--------| -----------------------------------------|
| SHARES | 6 | SHARED VOTING POWER |
| BENEFICIALLY | | 881,200 shares |
| OWNED BY ----------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| REPORTING | | 0 shares |
| PERSON ----------------------------------------------------|
| WITH | 8 | SHARED DISPOSITIVE POWER |
| | | 881,200 shares |
|--------|---------------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 881,200 shares |
|--------|---------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN [ ] |
| | SHARES* |
| | Not applicable |
|--------|---------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | 8.1% |
|--------|---------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON * |
| | IA |
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
- ------------------------- ---------------------------
|CUSIP NO. 368904108 | 13G | Page 2 of 3 Pages |
| ----------- | | --- --- |
- ------------------------- ---------------------------
|--------|---------------------------------------------------------------------|
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | Boston Partners, Inc. |
| | 04-326-9861 |
|--------|---------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] |
| | (b) [ ] |
| | Not applicable |
|--------|---------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|--------|---------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | Delaware |
|--------|-----------------|--------|------------------------------------------|
| | 5 | SOLE VOTING POWER |
| | | 0 shares |
| NUMBER OF |--------| -----------------------------------------|
| SHARES | 6 | SHARED VOTING POWER |
| BENEFICIALLY | | 881,200 shares |
| OWNED BY ----------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| REPORTING | | 0 shares |
| PERSON ----------------------------------------------------|
| WITH | 8 | SHARED DISPOSITIVE POWER |
| | | 881,200 shares |
|--------|---------------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 881,200 shares |
|--------|---------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN [ ] |
| | SHARES* |
| | Not applicable |
|--------|---------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | 8.1% |
|--------|---------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON * |
| | CO |
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
- ------------------------- ---------------------------
|CUSIP NO. 368904108 | 13G | Page 3 of 3 Pages |
| ----------- | | --- --- |
- ------------------------- ---------------------------
|--------|---------------------------------------------------------------------|
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | Desmond John Heathwood |
| | ###-##-#### |
|--------|---------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] |
| | (b) [ ] |
| | Not applicable |
|--------|---------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|--------|---------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | United States |
|--------|-----------------|--------|------------------------------------------|
| | 5 | SOLE VOTING POWER |
| | | 0 shares |
| NUMBER OF |--------| -----------------------------------------|
| SHARES | 6 | SHARED VOTING POWER |
| BENEFICIALLY | | 881,200 shares |
| OWNED BY ----------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| REPORTING | | 0 shares |
| PERSON ----------------------------------------------------|
| WITH | 8 | SHARED DISPOSITIVE POWER |
| | | 881,200 shares |
|--------|---------------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 881,200 shares |
|--------|---------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN [ ] |
| | SHARES* |
| | Not applicable |
|--------|---------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | 8.1% |
|--------|---------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON * |
| | IN |
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Item 1(a). Name of Sponsor: The Vanguard Group (the "Sponsor").
Item 1(b). Address of Sponsor's Principal Executive Offices:
455 Devon Park Drive, Wayne, PA 19087
Item 2(a). Names of Persons Filing: Boston Partners Asset
Management, L.P. ("BPAM"), Boston Partners, Inc. ("Boston
Partners"), and Desmond John Heathwood. BPAM, Boston Partners,
and Mr. Heathwood are sometimes referred to collectively herein
as the "Reporting Persons."
Item 2(b). Address of Principal Business Office or, if None, Residence:
The address of the principal business office of BPAM,
Boston Partners, and Mr. Heathwood is One Financial Center, 43rd
Floor, Boston, MA 02111.
Item 2(c). Citizenship: BPAM is a Delaware limited partnership.
Boston Partners is a Delaware corporation. Mr. Heathwood is a
United States citizen.
Item 2(d). Title of Class of Securities: Capital Shares, $1.00 par value
("Capital Shares").
Item 2(e). CUSIP Number: 368904108
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or
13d-2(b), check whether the person filing is a:
(a) [ ] Broker or Dealer registered under Section 15
of the Securities Exchange Act of 1934 (the "Act").
(b) [ ] Bank as defined in Section 3(a)(6) of the Act.
(c) [ ] Insurance Company as defined in Section 3(a)(19) of the
Act.
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act of 1940.
(e) [X] Investment Adviser registered under Section 203 of the
Investment Advisers Act of 1940.
(f) [ ] Employee Benefit Plan, Pension Fund which is
subject to the provisions of the Employee Retirement
Income Security Act of 1974 or Endowment Fund; see
Rule 13d-1(b)(1)(ii)(F) of the Act.
(g) [ ] Parent Holding Company, in accordance with Rule
13d-1(b)(ii)(G) of the Act.
<PAGE>
(h) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(H) of
the Act.
Item 4. Ownership.
----------
(a) Amount Beneficially Owned: Each of the Reporting Persons
may be deemed to own beneficially 881,200 Capital Shares at
December 31, 1996. BPAM owns of record 881,200 Capital
Shares. As sole general partner of BPAM, Boston Partners may
be deemed to own beneficially all of the Capital Shares that
BPAM may be deemed to own beneficially. As principal
stockholder of Boston Partners, Mr. Heathwood may be deemed
to own beneficially all of the Capital Shares that Boston
Partners may be deemed to own beneficially. Therefore, each
of the Reporting Persons may be deemed to own beneficially
881,200 Capital Shares of the Sponsor.
(b) Percent of Class: 8.1% for all Reporting Persons. The
foregoing percentage is calculated based on the 10,920,550
Capital Shares outstanding on December 31, 1996 as
determined in a phone conversation with the customer
relations department at The Vanguard Group on January 28,
1997.
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 0 shares for
all Reporting Persons.
(ii) shared power to vote or to direct the vote: 881,200
shares for all Reporting Persons.
(iii) sole power to dispose or to direct the disposition of:
0 shares for all Reporting Persons.
(iv) shared power to dispose or to direct the disposition
of: 881,200 shares for all Reporting Persons.
Pursuant to Rule 13d-4, each of Boston Partners and Mr.
Heathwood expressly disclaims beneficial ownership of the
Capital Shares of the Sponsor.
Item 5. Ownership of Five Percent or Less of a Class.
---------------------------------------------
Not applicable.
<PAGE>
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
----------------------------------------------------------------
BPAM holds all of the above 881,200 shares under management for
its clients, who have the right to direct the receipt of
dividends, to receive dividends from such shares and to receive
the proceeds from the sale of such shares. None of these clients
holds more than five percent of the Capital Shares of the
Sponsor.
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. BPAM, Boston Partners and Mr. Heathwood expressly
disclaim membership in a "group" as defined in Rule 13d-5(b)(1).
Item 9. Notice of Dissolution of Group.
-------------------------------
Not applicable.
Item 10. Certification.
--------------
By signing below we certify that, to the best of our 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 Sponsor of such securities and were not acquired
in connection with or as a participant in any transaction having
such purpose or effect.
<PAGE>
SIGNATURE
---------
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. We also hereby agree to file this statement jointly pursuant to the
agreement set forth as Exhibit 1 hereto.
Dated: February 7, 1997
BOSTON PARTNERS ASSET MANAGEMENT, L.P.
By: Boston Partners, Inc.,
its general partner
By: /s/ Desmond John Heathwood
--------------------------
Desmond John Heathwood
President
BOSTON PARTNERS, INC.
By: /s/ Desmond John Heathwood
--------------------------
Desmond John Heathwood
President
/s/ Desmond John Heathwood
- --------------------------
Desmond John Heathwood
<PAGE>
Exhibit 1
---------
AGREEMENT
Pursuant to Rule 13d-1(f)(1) under the Securities Exchange Act of 1934, the
undersigned hereby agree that only one statement containing the information
required by Schedule 13G need be filed with respect to the ownership by each of
the undersigned of Capital Shares of Gemini II Inc. sponsored by The Vanguard
Group.
This Agreement may be executed in any number of counterparts, each of which
shall be deemed an original.
EXECUTED this 7th day of February, 1997.
BOSTON PARTNERS ASSET MANAGEMENT, L.P.
By: Boston Partners, Inc.
its general partner
By: /s/ Desmond John Heathwood
--------------------------
Desmond John Heathwood
President
BOSTON PARTNERS, INC.
By: /s/ Desmond John Heathwood
--------------------------
Desmond John Heathwood
President
/s/ Desmond John Heathwood
- --------------------------
Desmond John Heathwood
