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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 0)(1)
ARGOSY EDUCATION GROUP, INC.
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(Name of Issuer)
CLASS A COMMON STOCK
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(Title of Class of Securities)
040222101
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(CUSIP Number)
12/31/1999
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(Date of Event Which Requires Filing of this Statement)
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)
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(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 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 the following pages]
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CUSIP No. 040222101 13G Page 2 of 6 Pages
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1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Howard Hughes Medical Institute
59-0735717
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2. CHECK THE APPROPRIATE BOX IF THE MEMBER OF A GROUP
(a)[ ]
(b)[ ]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5. SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY
EACH 126,700*
REPORTING -----------------------------
PERSON 7. SOLE DISPOSITIVE POWER
WITH 0
-----------------------------
8. SHARED DISPOSITIVE POWER
126,700*
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
126,700*
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10. CHECK BOX IF AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES [ ]
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.2%
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12. TYPE OF REPORTING PERSON
EP
* See Footnote in Item 4 Below
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CUSIP No. 040222101 13G Page 3 of 6 Pages
Item 1(a). Name of Issuer:
ARGOSY EDUCATION GROUP, INC.
Item 1(b). Address of Issuer's Principal Executive Offices:
First National Plaza
20 S Clark Street
3rd Floor
Chicago, IL 60603
Item 2(a). Name of Person Filing:
Howard Hughes Medical Institute
Item 2(b). Address of Principal Business Office or, if None,
Residence:
4000 Jones Bridge Road
Chevy Chase, Maryland 20815-6789
Item 2(c). Citizenship:
Delaware
Item 2(d). Title of Class of Securities:
CLASS A COMMON STOCK
Item 2(e). CUSIP Number:
040222101
Item 3. If This Statement is Filed Pursuant to Rule 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.
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CUSIP No. 040222101 13G Page 4 of 6 Pages
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act.
(e) [ ] An investment adviser in accordance with Rule
13d-1(b)(1)(ii)(E);
(f) [X] 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); see item 7;
(h) [ ] A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act;
(i) [ ] A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act;
(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to Rule 13d-1(c),
check this box [ ]
Item 4. Ownership.
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item
1.
(a) Amount beneficially owned: 126,700*
(b) Percent of class: 6.2%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote 0
(ii) Shared power to vote or to direct the vote 126,700*
(iii) Sole power to dispose or to direct the
disposition of 0
(iv) Shared power to dispose or to direct the
disposition of 126,700*
* The reporting person hereby reports that it has beneficial ownership, shared
voting power and shared dispositive power in response to certain Items of
Schedule 13G only to the extent that the reporting person may have the right (in
accordance with Rule 13d-3(d)(1) under the Act) to acquire such beneficial
ownership or voting or dispositive power within 60 days pursuant to termination
of the external management agreement pursuant to which the
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CUSIP No. 040222101 13G Page 5 of 6 Pages
securities are held. Pursuant to Rule 13d-4 under the Act, the reporting person
hereby disclaims beneficial ownership of the securities as to which this
Schedule is filed and expressly declares that the filing of this Schedule 13G
shall not be construed as an admission that the reporting person is, for the
purposes of Section 13(d) or 13(g) of the Act, the beneficial owner of any
securities covered by such Schedule.
Item 5. Ownership of Five 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 five percent of the class of securities, check the following
[ ].
Item 6. Ownership of More than Five Percent on Behalf of Another
Person.
Wellington Management Company, LLP has the power to direct the proceeds
of the sale of the securities pursuant to a management agreement with
the reporting person.
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.
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
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CUSIP No. 040222101 13G Page 6 of 6 Pages
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.
Howard Hughes Medical Institute
By:--//Richard A. Pender//--
Name: Richard A. Pender
Title: Managing Director - Equities
Date: February 11, 2000
