SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
-----------------------------
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(Amendment No. 5)1/
Heartland Partners, L.P.
- --------------------------------------------------------------------------------
(Name of Issuer)
Class A Limited Partnership Units
(Title of Class of Securities)
422357 10 3
- --------------------------------------------------------------------------------
(CUSIP Number)
David S. Richter
Waveland Capital Management, L.P.
333 West Wacker Drive
Chicago, Illinois 60606
(312) 739-2138
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 9, 1999
- --------------------------------------------------------------------------------
(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 [ ]
Note. Schedules filed in paper format shall include a
signed original and five copies of the schedule, including all
exhibits. See Rule 13d-7(b) for other parties to whom copies are
to be sent.
- -------------------------
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 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 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.: 422357-10-3 13D
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Waveland Partners, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (_)
(b) ( )
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) (_)
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
--------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES 262,789
BENEFICIALLY --------------------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH
REPORTING --------------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
262,789
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
262,789 Units
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (_)
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.27%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
Page 2 of 10 Pages
<PAGE>
CUSIP NO.: 422357-10-3 13D
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Waveland Capital Management, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (_)
(b) ( )
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) (_)
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
--------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES 262,789
BENEFICIALLY --------------------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH
REPORTING --------------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
262,789
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
262,789 Units
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (_)
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.27%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
Page 3 of 10 Pages
<PAGE>
CUSIP NO.: 422357-10-3 13D
1 NAME OF REPORTING PERSONS
S.S. OR IRS IDENTIFICATION NOS. OF ABOVE PERSONS
Clincher Capital Corporation
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (_)
(b) (_)
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) (_)
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
----------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES 262,789
BENEFICIALLY ----------------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH
REPORTING ----------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
262,789
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
262,789 Units
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (_)
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.27%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
Page 4 of 10 Pages
<PAGE>
CUSIP NO.: 422357-10-3 13D
1 NAME OF REPORTING PERSONS
S.S. OR IRS IDENTIFICATION NOS. OF ABOVE PERSONS
Waveland Capital Management, LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (_)
(b) (_)
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) (_)
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-----------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES 262,789
BENEFICIALLY -----------------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH
REPORTING -----------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
262,789
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
262,789 Units
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (_)
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.27%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
Page 5 of 10 Pages
<PAGE>
CUSIP NO.: 422357-10-3 13D
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Waveland Partners, Ltd.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (_)
(b) (_)
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) (_)
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES 262,789
BENEFICIALLY -------------------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH
REPORTING -------------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
262,789
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
262,789 Units
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (_)
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.27%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
Page 6 of 10 Pages
<PAGE>
CUSIP NO.:422357-10-3 13D
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Waveland International, Ltd.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (_)
(b) (_)
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) (_)
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES 262,789
BENEFICIALLY ------------------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH
REPORTING ------------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
262,789
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
262,789 Units
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (_)
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.27%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
Page 7 of 10 Pages
<PAGE>
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) The reporting persons may be deemed to beneficially own
262,789 Units representing approximately 12.27% of the Units outstanding as
of September 30, 1998 (as reported in the Issuer's Quarterly Report on Form
10-Q for the quarter ended September 30, 1998).
(b) Each of the reporting persons may be deemed to share
beneficial ownership of the Units which are owned directly by Waveland
International.
(c) In the past 60 days, Waveland International effected the
following open market purchases of Units:
Number of Average Price
Date Units Acquired Per Unit
- ---- -------------- ------------
January 4, 1999 600 16.3750
February 5, 1999 5,000 15.1750
February 8, 1999 400 15.2500
February 11, 1999 3,900 16.1250
March 5, 1999 4,600 15.2500
March 8, 1999 3,000 14.0000
March 9, 1999 5,000 14.0000
Page 8 of 10 Pages
<PAGE>
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: March 25, 1999
WAVELAND PARTNERS, L.P.
By: Waveland Capital Management, L.P.
Its: General Partner
By: Clincher Capital Corporation
Its: General Partner
By: /s/ David S. Richter
----------------------------
David S. Richter, President
WAVELAND CAPITAL MANAGEMENT, L.P.
By: Clincher Capital Corporation
Its: General Partner
By: /s/ David S. Richter
----------------------------
David S. Richter, President
CLINCHER CAPITAL CORPORATION
By: /s/ David S. Richter
----------------------------
David S. Richter, President
WAVELAND CAPITAL MANAGEMENT, LLC
By: /s/ David S. Richter
--------------------------
David S. Richter, Manager
WAVELAND PARTNERS, LTD.
By: /s/ David S. Richter
----------------------------
David S. Richter, Director
WAVELAND INTERNATIONAL, LTD.
By: /s/ David S. Richter
----------------------------
David S. Richter, Director
Page 9 of 10 Pages
