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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 2)*
Harold's Stores, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
413353103
(CUSIP Number)
Mr. Lance Laifer With a copy to:
Laifer Capital Management, Inc. Gerald Adler, Esq.
Hilltop Partners, L.P. Shereff, Friedman, Hoffman & Goodman, LLP
45 West 45th Street 919 Third Avenue
New York, New York 10036 New York, New York 10022
(212) 921-4139 (212) 758-9500
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
December 23, 1997
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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 which is the subject of this Schedule 13D, and is
filing this statement because of Rule 13d-1(b) (3) or (4), check the
following: [ ].
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
*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 ("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).
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SCHEDULE 13D
CUSIP NO. 413353103 PAGE 2 OF PAGES
1. NAME OF REPORTING PERSON
S.S. OR I.R.S IDENTIFICATION NO. OF ABOVE PERSON
Hilltop Partners, L.P.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS* WC
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
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NUMBER OF 7. SOLE VOTING POWER 262,526
SHARES ------------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER 0
OWNED BY ------------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER 262,526
REPORTING ------------------------------------------------------
PERSON WITH 10. SHARED DISPOSITIVE POWER 0
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 262,526
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.6%
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14. TYPE OF REPORTING PERSON* PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
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SCHEDULE 13D
CUSIP NO. 413353103 PAGE 3 OF PAGES
1. NAME OF REPORTING PERSON
S.S. OR I.R.S IDENTIFICATION NO. OF ABOVE PERSON
Laifer Capital Management, Inc.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS* WC
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
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NUMBER OF 7. SOLE VOTING POWER 325,977
SHARES ------------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER 0
OWNED BY ------------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER 325,977
REPORTING ------------------------------------------------------
PERSON WITH 10. SHARED DISPOSITIVE POWER 167,031
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 493,008
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.6%
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14. TYPE OF REPORTING PERSON* CO, IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
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SCHEDULE 13D
CUSIP NO. 413353103 PAGE 4 OF PAGES
1. NAME OF REPORTING PERSON
S.S. OR I.R.S IDENTIFICATION NO. OF ABOVE PERSON
Lance Laifer
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* WC
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
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NUMBER OF 7. SOLE VOTING POWER 325,977
SHARES ------------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER 0
OWNED BY ------------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER 325,977
REPORTING ------------------------------------------------------
PERSON WITH 10. SHARED DISPOSITIVE POWER 167,031
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 493,008
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.6%
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON* IN
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
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Schedule 13D
Amendment No. 2
Harold's Stores, Inc.
This Amendment No. 2 to the Statement on Schedule 13D amends
and supplements the Statement on Schedule 13D relating to the event date of
April 8, 1997 (the "Schedule 13D") filed by Hilltop Partners, L.P., Laifer
Capital Management, Inc. and Lance Laifer (collectively, the "Reporting
Persons"), Amendment No. 1 to the Schedule 13D relating to the event date June
20, 1997, both relating to the common stock (the "Common Stock") of Harold's
Stores, Inc. (the "Company"). The address of the principal executive offices
of the Company is 765 ASP Avenue, Norman, Oklahoma 73069. Capitalized terms
used herein and not defined herein shall have the meanings assigned thereto in
the Schedule 13D.
Item 5. Interest in Securities of Issuer.
Item 5 of the Schedule 13D is hereby amended and restated to
read in its entirety as follows:
(a) Hilltop is the beneficial owner of 262,526 shares
(4.6%) of Common Stock.
Laifer Capital Management, Inc. is the beneficial owner of
493,008 shares (8.6%) of Common Stock. The 493,008 shares of Common Stock
beneficially owned by Laifer Capital Management, Inc. include:
(i) 262,526 shares of Common Stock beneficially owned by
Laifer Capital Management, Inc. in its capacity as General Partner and
Investment Advisor to Hilltop, which shares have been described in the previous
paragraph; and
(ii) 230,482 shares of Common Stock beneficially owned by
Laifer Capital Management, Inc. in its capacity as Investment Advisor to (a)
Wolfson, with an address at One State Street Plaza, New York, New York
10004-1505, and (b) Offshore, a Cayman Islands company, with an address c/o
Consolidated Fund Management Limited, P.O. Box HM 2257, Par La Ville Place, 14
Par La Ville Road, Hamilton HMJX, Bermuda (collectively, the "Clients").
Lance Laifer, as president, sole director and principal
stockholder of Laifer Capital Management, Inc., is deemed to have the same
beneficial ownership as Laifer Capital Management, Inc.
Ranie Hotis is the beneficial owner of 100 shares of Common
Stock.
The number of shares beneficially owned by the Reporting
Persons and the percentage of outstanding shares represented thereby have been
computed in accordance with Rule 13d-3 under the Securities Exchange Act of
1934, as amended. There were 5,749,627 shares of
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Common Stock of the Company outstanding as of December 8, 1997 as reported by
the Company in its Quarterly Report on Form 10-Q for the period ended
November 1, 1997.
(b) Hilltop has the sole power (i) to vote or to direct the
voting of and (ii) to dispose and to direct the disposition of the 262,526
shares of Common Stock beneficially owned by it. Hilltop's power to vote and
dispose of its shares rests with Laifer Capital Management, Inc., in its
capacity as the General Partner of Hilltop.
Laifer Capital Management, Inc. has the sole power (i) to
vote and to direct the voting of and (ii) to dispose and direct the
disposition of the 262,526 shares of Common Stock beneficially owned by it in
its capacity as the General Partner of Hilltop. Laifer Capital Management,
Inc. (i) has sole power to vote and to direct the voting of and sole power to
dispose and direct the disposition of 63,451 shares of Common Stock owned by
Offshore and (ii) shares with Wolfson the power to dispose and direct the
disposition of 167,031 shares of Common Stock beneficially owned by Laifer
Capital Management, Inc. in its capacity as Investment Advisor to Wolfson.
Wolfson retains the sole power to vote and to direct the voting of the shares
of Common Stock owned by it.
Ranie Hotis has the sole power (i) to vote and to direct the
voting of and (ii) to dispose and to direct the disposition of the 100 shares
of Common Stock beneficially owned by her.
(c) All transactions in the Common Stock effected by the
Reporting Persons are set forth in Annex A hereto and are incorporated herein
by reference. Except as otherwise indicated, such transactions were purchases
effected in the open market.
(d) Not applicable.
(e) Not applicable.
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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: December 29, 1997 HILLTOP PARTNERS, L.P.
By: LAIFER CAPITAL MANAGEMENT, INC.,
as General Partner
By: /s/ Lance Laifer
----------------
Lance Laifer
President
LAIFER CAPITAL MANAGEMENT, INC.
By: /s/ Lance Laifer
----------------
Lance Laifer
President
/s/ Lance Laifer
----------------
Lance Laifer
Page 7
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ANNEX A
<TABLE>
<CAPTION>
LAIFER HILLTOP WOLFSON OFFSHORE
DATE TYPE* PRICE COMM. # SHARES # SHARES # SHARES # SHARES
<S> <C> <C> <C> <C> <C> <C> <C>
10/30/97 B $8.1250 $0.05 200 200 0 0
11/5/97 B 8.2500 0.05 1,000 600 300 100
11/5/97 B 8.2500 0.05 300 0 300 0
11/5/97 B 8.3750 0.06 200 0 200 0
11/6/97 B 8.7500 0.05 200 0 200 0
11/17/97 S 8.0000 0.05 800 500 200 100
11/17/97 S 8.2500 0.05 2,500 1,400 800 300
11/26/97 S 7.0682 0.05 1,100 1,100 0 0
12/01/97 B 7.3750 0.06 500 500 0 0
12/01/97 B 7.2500 0.05 500 500 0 0
12/01/97 S 6.8750 0.05 4,100 4,100 0 0
12/02/97 S 6.7500 0.05 1,000 1,000 0 0
12/03/97 S 7.0000 0.05 300 300 0 0
12/04/97 S 6.8750 0.05 400 400 0 0
12/05/97 B 7.1250 0.06 200 200 0 0
12/05/97 S 7.5417 0.05 1,200 1,200 0 0
12/10/97 B 7.5000 0.05 200 200 0 0
12/17/97 B 7.5000 0.05 500 0 500 0
12/19/97 S 7.2500 0.05 4,000 4,000 0 0
12/23/97 S 7.2500 0.00 30,000 30,000 0 0
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* B - Open market purchase.
S - Open market sale.
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</TABLE>
