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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 3)
HomeFed Corporation
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(Name of Issuer)
Common Stock, $.01 par value 436919104
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(Title of class of securities) (CUSIP number)
Stephen E. Jacobs, Esq.
Weil, Gotshal & Manges LLP
767 Fifth Avenue
New York, New York 10153
(212) 310-8000
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(Name, address and telephone number of person authorized to
receive notices and communications)
OCTOBER 8, 1999
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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
schedule because of Rule 13d-1(b)(3) or (4), check the following box [_].
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, as amended (the "Exchange Act"), or otherwise subject to the liabilities
of that Section of the Exchange Act but shall be subject to all other provisions
of the Exchange Act.
(Continued on following page(s))
(Page 1 of 7 Pages)
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NY2:\818855\02\HJTZ02!.DOC\76830.0194
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CUSIP No. 436919104 13D Page 2 of 7
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1 NAME OF REPORTING PERSON: TRUST UNDER TRUST AGREEMENT DATED AUGUST 14, 1998 BETWEEN
LEUCADIA NATIONAL CORPORATION AND JOSEPH A. ORLANDO, AS
TRUSTEE
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [X]
(B) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: NOT APPLICABLE
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION: NEW YORK
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NUMBER OF 7 SOLE VOTING POWER: NONE
SHARES
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BENEFICIALLY 8 SHARED VOTING POWER: NONE
OWNED BY
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EACH 9 SOLE DISPOSITIVE POWER: NONE
REPORTING
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PERSON WITH 10 SHARED DISPOSITIVE POWER: NONE
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: NONE
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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): 0%
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14 TYPE OF REPORTING PERSON: 00
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CUSIP No. 436919104 13D Page 3 of 7
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1 NAME OF REPORTING PERSON: IAN M. CUMMING
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [X]
(B) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: NOT APPLICABLE
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION: USA
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NUMBER OF 7 SOLE VOTING POWER: 7,626,290
SHARES
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BENEFICIALLY 8 SHARED VOTING POWER: 211,319
OWNED BY
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EACH 9 SOLE DISPOSITIVE POWER: 7,626,290
REPORTING
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PERSON WITH 10 SHARED DISPOSITIVE POWER: 211,319
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 7,837,609
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: SEE ITEM 5. [X]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 13.9%
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14 TYPE OF REPORTING PERSON: IN
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CUSIP No. 436919104 13D Page 4 of 7
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1 NAME OF REPORTING PERSON: JOSEPH S. STEINBERG
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [X]
(B) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: NOT APPLICABLE
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION: USA
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NUMBER OF 7 SOLE VOTING POWER: 7,152,520
SHARES
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BENEFICIALLY 8 SHARED VOTING POWER: 36,762
OWNED BY
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EACH 9 SOLE DISPOSITIVE POWER: 7,152,520
REPORTING
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PERSON WITH 10 SHARED DISPOSITIVE POWER: 36,762
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 7,189,282
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: SEE ITEM 5. [X]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 12.7%
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14 TYPE OF REPORTING PERSON: IN
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This Statement is Amendment No. 3 ("Amendment No. 3") to
the Statement on Schedule 13D (the "Schedule 13D") filed with the Securities and
Exchange Commission by The Trust Under Agreement Dated August 14, 1998 between
Leucadia National Corporation and Joseph A. Orlando, as Trustee, Ian M. Cumming
and Joseph S. Steinberg (collectively, the "Beneficial Owners"), on August 24,
1998, as previously amended, relating to HomeFed Corporation, a Delaware
corporation (the "Company"). Capitalized terms used herein and not defined
herein have the meanings ascribed thereto in the Schedule 13D.
Item 3. Source and Amount of Funds or Other Consideration.
The information contained in Item 4 below is incorporated
herein by reference.
Item 4. Purpose of Transaction.
On October 8, 1999 (the "Distribution Date"), the Trust
distributed all of the shares of Common Stock owned by the Trust to its
beneficiaries (the "Distribution"). After giving effect to the Distribution, the
Trust held no shares of Common Stock.
In the Distribution, Mr. Cumming received 7,626,290 shares
of Common Stock, Mr. Steinberg received 7,152,520 shares of Common Stock and two
trusts for the benefit of Mr. Steinberg's children received an aggregate of
893,258 shares of Common Stock (as to which Mr. Steinberg disclaims beneficial
ownership). As a result of the Distribution, Mr. Cumming and Mr. Steinberg no
longer have the right to vote any shares formerly held by the Trust, except as
set forth in this Amendment No. 3.
The Beneficial Owners have no plans or intentions which
would result in or relate to any of the transaction described in subparagraphs
(a) through (j) of Item 4 of Schedule 13D.
Item 5. Interest in Securities of the Issuer.
(a) and (b). As of the Distribution Date, Ian M. Cumming
and Joseph S. Steinberg owned the following shares of Common Stock.
Ian M. Cumming is the beneficial owner of 7,626,290 shares
of Common Stock. Such shares of Common Stock represent approximately 13.5% of
the 56,557,826 shares of Common Stock outstanding as of October 8, 1999. Mr.
Cumming has sole dispositive power over such shares of Common Stock. Mr. Cumming
also may be deemed to be the beneficial owner of an additional 211,319 shares of
Common Stock (.4%) beneficially owned by his wife (directly and through trusts
for the benefit of Mr. Cumming's children of which Mr. Cumming's wife is
trustee). The foregoing does not include an aggregate of 73,296 shares of Common
Stock (.1%) that are beneficially owned by a private charitable foundation, of
which Mr. Cumming is a trustee and President and as to which Mr. Cumming
disclaims beneficial ownership.
Joseph S. Steinberg is the beneficial owner of 7,152,520
shares of Common Stock. Such shares of Common Stock represent approximately
12.6% of the 56,557,826 shares of Common Stock outstanding as of October 8,
1999. Mr. Steinberg has sole dispositive power over such shares of Common Stock.
Mr. Steinberg also may be deemed to be the beneficial owner of an additional
36,762 shares of Common Stock (less than .1%) beneficially owned by his wife and
5
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daughter. The foregoing does not include an aggregate of 23,815 shares of Common
Stock (less than .1%) beneficially owned by a private charitable foundation, of
which Mr. Steinberg and his wife are trustees, as to which Mr. Steinberg
disclaims beneficial ownership. Mr. Steinberg also disclaims beneficial
ownership as to an aggregate of an additional 893,258 shares of Common Stock
(approximately 1.6%) beneficially owned by two trusts for the benefit of Mr.
Steinberg's children.
Messrs. Cumming and Steinberg have an oral agreement
pursuant to which they will consult with each other as to the election of a
mutually acceptable Board of Directors of the Company.
(c). The information contained in Item 4 above is
incorporated herein by reference.
(d) Not applicable.
(e). On the Distribution Date, the Trust ceased to be the
beneficial owner of more than five percent of the outstanding Common Stock.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer
The information contained in Item 5 above is incorporated
herein by reference. Except as described above, there are no contracts,
arrangements, understandings or relationships with respect to any securities of
the Company (i) among the Beneficial Owners and, to the best of their knowledge,
any of the other persons identified pursuant to Item 2 of the Schedule 13D and
(ii) between (a) the Beneficial Owners and, to the best of their knowledge, any
of the other persons identified pursuant to Item 2 of the Schedule 13D and (b)
any other person.
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SIGNATURE
After reasonable inquiry and to the best of its knowledge
and belief, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: October 12, 1999
TRUST UNDER TRUST AGREEMENT DATED AUGUST 14, 1998 BETWEEN
LEUCADIA NATIONAL CORPORATION AND JOSEPH A. ORLANDO, AS TRUSTEE
By: /s/ Joseph A. Orlando
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Joseph A. Orlando, as Trustee
/s/ Joseph S. Steinberg
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Joseph S. Steinberg
/s/ Ian M. Cumming
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Ian M. Cumming
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