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. 4)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)
December 28, 1998
- --------------------------------------------------------------------------------
(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 240,289
BENEFICIALLY --------------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH
REPORTING --------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
240,289
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
240,289 Units
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (_)
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.22%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
Page 2 of 14 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 240,289
BENEFICIALLY ----------------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH
REPORTING ----------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
240,289
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
240,289 Units
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (_)
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.22%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
Page 3 of 14 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 240,289
BENEFICIALLY ---------------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH
REPORTING ---------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
240,289
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
240,289 Units
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (_)
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.22%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
Page 4 of 14 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 240,289
BENEFICIALLY -----------------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH
REPORTING ----------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
240,289
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
240,289 Units
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (_)
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.22%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
Page 5 of 14 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 240,289
BENEFICIALLY --------------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH
REPORTING --------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
240,289
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
240,289 Units
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (_)
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.22%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
Page 6 of 14 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 240,289
BENEFICIALLY ----------------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH
REPORTING ----------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
240,289
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
240,289 Units
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (_)
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.22%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
Page 7 of 14 Pages
<PAGE>
ITEM 2. IDENTITY AND BACKGROUND.
This statement is being filed by Waveland International, Ltd., a
Cayman Islands exempted company ("Waveland International"), Waveland,
Waveland Capital, Clincher, Waveland Capital Management, LLC, an Illinois
limited liability company ("Waveland LLC") and Waveland Partners, Ltd., a
Cayman Islands exempted company ("Partners Ltd." and together with Waveland
International, Waveland, Waveland Capital, Clincher and Waveland LLC, the
"reporting persons").
The reporting persons have their principal offices at 333 West
Wacker Drive, Suite 1600, Chicago, Illinois 60606. Clincher's principal
business is to act as the general partner of Waveland Capital. Waveland
Capital's principal business is to act as the general partner of Waveland.
Waveland's principal business is to act as the majority-owner of Waveland
International. Waveland LLC's principal business is to act as the
investment advisor of Partners Ltd. Partners Ltd.'s principal business is
to act as the minority-owner of Waveland International. Waveland
International's principal business is investments in marketable securities.
(a) -- (c) The names, principal occupation or employment and the
name, and, except where such information is provided elsewhere herein, the
principal business and address of any organization in which such employment
is conducted of each officer and director of Clincher is set forth below.
Unless otherwise indicated below, each of the following persons is a United
States citizen and the business address of each of the following persons is
c/o Clincher Capital Corporation, 333 West Wacker Drive, Suite 1600,
Chicago, Illinois 60606.
Name Principal Occupation or Employment
----------------------------------
David S. Richter Director, President, Secretary and Treasurer, Clincher
Capital Corporation, the general partner of Waveland
Capital Management, L.P., the general partner of
Waveland Capital Management, LLC; Director and
President, Waveland Partners, Ltd.; Director and
President, Waveland International, Ltd.
Stephen J. Malkin Director and Chairman of the Board, Clincher Capital
Corporation, the general partner of Waveland Capital
Management, L.P. the general partner of Waveland
Partners, L.P.; Manager, Waveland Capital
Management, LLC.
Page 8 of 14 Pages
<PAGE>
Michael J. Sacks Director and Chief Executive Officer, Clincher Capital
Corporation, the general partner of Waveland Capital
Management, L.P. the general partner of Waveland
Partners, L.P.; Manager, Waveland Capital
Management, LLC.
Paul A. Meister Vice President and Assistant Secretary, Clincher Capital
Corporation, the general partner of Waveland Capital
Management, L.P., the general partner of Waveland
Partners, L.P.; Manager, Waveland Capital
Management, LLC; Director and Vice President,
Waveland Partners, Ltd.; Director and Vice President,
Waveland International, Ltd.
Julie Tostevin Director and Secretary, Waveland Partners, Ltd.;
Director and Secretary, Waveland International, Ltd.
(d) During the last five years, none of the persons identified in
this Item 2 has been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors).
(e) During the last five years, none of the persons identified in
this Item 2 has been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such
proceeding was or is subject to a judgment, decree or final order enjoining
future violations or, or prohibiting or mandating activities subject to
Federal or State securities laws or finding any violation with respect to
such laws.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) The reporting persons may be deemed to beneficially own
240,289 Units representing approximately 11.22% 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.
Page 9 of 14 Pages
<PAGE>
(c) In the past 60 days, Waveland International effected the
following open market purchases of Units:
Number of Average
Units Price
Date Acquired Per Unit
- ---- --------- ---------
12/24/98 100 15.2500
12/28/98 200 15.5000
12/28/98 7,600 16.0000
12/29/98 10,000 16.8350
12/30/98 3,000 17.0000
12/31/98 7,800 17.0000
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit
Number Description
- ------- -----------
99.1 Joint Filing Agreement
Page 10 of 14 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: January 7, 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, President
WAVELAND INTERNATIONAL, LTD.
By: /s/ David S. Richter
-----------------------------
David S. Richter, President
Page 11 of 14 Pages
Exhibit 99.1
JOINT FILING AGREEMENT
----------------------
In accordance with Rule 13d-1(f) under the Securities
Exchange Act of 1934, as amended, each of the persons named below agrees to
the joint filing of a Statement on Schedule 13D (including amendments
thereto) with respect to the Class A Limited Partnership Units of Heartland
Partners, L.P., a Delaware limited partnership, and further agrees that
this Joint Filing Agreement be included as an exhibit to such filings
provided that, as contemplated by Section 13d-1(f)(l)(ii), no person shall
be responsible for the completeness or accuracy of the information
concerning the other persons making the filing, unless such person knows or
has reason to believe that such information is inaccurate. This Joint
Filing may be executed in any number of counterparts, all of which together
shall constitute one and the same instrument.
Dated: January 7, 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, President
WAVELAND INTERNATIONAL, LTD.
By: /s/ David S. Richter
-----------------------------
David S. Richter, President
