SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Information to Be Included in Statements Filed Pursuant
To Rule 13d-1(b) and (c) and Amendments Thereto
Filed Pursuant to Rule 13d-2(b)
PEMCO AVIATION GROUP, INC.
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
706444106
(CUSIP Number)
10/18/2000
(Date of Event Which Requires Filing of this Statement)
1. Names of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Hovan Capital Management, LLC, 68-0425303
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [X]
3. SEC Use Only
4. Citizenship or Place of Organization
California
Number of Shares 5. Sole Voting Power 400,150
Beneficially Owned 6. Shared Voting Power -0-
By Each Reporting 7. Sole Dispositive Power 400,150
Person With 8. Shared Dispositive Power -0-
9. Aggregate Amount Beneficially Owned by Each Reporting Person
400,150
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
No Shares Excluded
11. Percent of Class Represented by Amount in Row 9
9.9%
12. Type of Reporting Person
IA
14. Check the appropriate box to designate the rule pursuant to which
this Schedule is filed:
[ X ] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
Item 1(a). Name of Issuer:
PEMCO AVIATION GROUP, INC.
Item 1(b). Address of Issuers Principal Executive Offices:
1943 North 50th Street, Birmingham, AL 35212
Item 2(a). Name of Person Filing:
Hovan Capital Management, LLC
Item 2(b) Address or Principal Business Office or, if none, Residence:
81 Beach Road, Belvedere, CA 94920
Item 2(c) Citizenship:
California, United States
Item 2(d) Title of Class of Securities:
Common Stock
Item 2(e) CUSIP No.:
706444106
Item 3.
If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b) or (c),
check whether the person filing is a:
a. [ ] Broker or Dealer registered under Section 15 of 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 ] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
f. [ ] An employee benefit plan or endowment fund in accordance with
Rule 13d-1(b)(1)(ii)(F);
g. [ ] A parent holding company or control person in accordance with
Rule 13d-1(b)(1)(ii)(G);
h. [ ] A savings associations as defined in Section 3(b) of the Federal
Deposit Insurance Act (12 U.S.C. 1813);
i. [ ] A church plan that is excluded from the definition of an investment
company under section 3(c)(14) of the Investment Company Act of 1940;
j. [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
Item 4. Ownership
a. Amount Beneficially Owned: 400,150 shares
b. Percent of Class: 9.9%
c. Number of shares as to which such person has:
i. Sole power to vote or to direct the vote: 400,150
ii. Shared power to vote or to direct the vote: -0-
iii. Sole power to dispose or to direct the disposition of: 400,150
iv. Shared power to dispose or to direct the disposition of: -0-
Item 5.
Ownership of 5 Percent or Less of a Class. If this statement is
being filed to report the fact that as of the date hereof the
reporting person has ceased to be the beneficial owner of more than
5 percent of the class of securities, check the following [ ].
Item 6.
Ownership of More than 5 Percent on Behalf of Another Person
The securities as to which this Schedule is filed by HCM,
in its capacity as investment adviser, are owned of record
by clients of HCM. Those clients have the right to receive,
or the power to direct the receipt of, dividends from, or
the proceeds from the sale of, such securities. No such
client is known to have such right or power with respect
to more than five percent of this class of securities,
except as follows:
NONE
Item 7.
Identification and Classification of the Subsidiary Which Acquired
The Security Being Reported on By the Parent Holding Company or
Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group
Not Applicable. This schedule is not being filed
pursuant to Rule 13d-1(b)(1)(ii)(J) or Rule 13d-1(c)
or Rule 13d-1(d).
Item 9.
Notice of Dissolution of Group.
Not Applicable.
Item 10.
Certification.
a)The following certification shall be included if the statement
is filed pursuant to Rule 13d-1(b):
"By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired and are held
in the ordinary course of business and were not acquired and are
not held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and were not
acquired and are not held in connection with or as a participant in
any transaction having that 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.
Dated: October 18, 2000
Signature: --//Kurt S. Hovan//--
Name: Kurt S. Hovan
Title: Managing Member of Hovan Capital Management, LLC
