SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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. 2)
UNITED INVESTORS REALTY TRUST
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
910741107
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(CUSIP Number)
David Glatstein, President & Chief Executive Officer
c/o Southwest Securities, Inc.
Renaissance Tower
1201 Elm, Suite 3500
Dallas, TX 75270-2180
(214) 658-1055
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
November 15, 2000
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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(e), 13d-1(f) or 13d-1(g), 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 for other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 10 Pages)
<PAGE>
CUSIP No. 910741107 SCHEDULE 13D Page 2 of 10 Pages
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Southwest Securities, Inc.
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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*
OO
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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
Delaware
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7 SOLE VOTING POWER
477,175
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 477,175
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
477,175
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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)
5.5%
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14 TYPE OF REPORTING PERSON*
BD
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 910741107 SCHEDULE 13D Page 3 of 10 Pages
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
David Glatstein
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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*
OO
--------------------------------------------------------------------------------
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
United States Citizen
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7 SOLE VOTING POWER
4,000
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 4,000
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
**
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14 TYPE OF REPORTING PERSON*
IN
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** less than 1%
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 910741107 SCHEDULE 13D Page 4 of 10 Pages
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Jerome N. Glatstein Trust
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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*
OO
--------------------------------------------------------------------------------
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
United States Citizen
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7 SOLE VOTING POWER
1,500
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 1,500
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,500
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
**
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
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** less than 1%
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 910741107 SCHEDULE 13D Page 5 of 10 Pages
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Fiduciary Financial Services of the Southwest, Inc.
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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*
OO
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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
Texas
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7 SOLE VOTING POWER
183,954
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY -0-
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 183,954
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
183,954
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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)
2.1%
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14 TYPE OF REPORTING PERSON*
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 910741107 SCHEDULE 13D Page 6 of 10 Pages
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
EQSF Advisers, Inc.
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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*
OO
--------------------------------------------------------------------------------
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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7 SOLE VOTING POWER
107,700
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 107,700
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
107,700
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.2%
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14 TYPE OF REPORTING PERSON*
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 910741107 SCHEDULE 13D Page 7 of 10 Pages
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
M.J. Whitman Advisers, Inc.
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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*
OO
--------------------------------------------------------------------------------
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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7 SOLE VOTING POWER
37,100
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 37,100
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
37,100
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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)
**
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14 TYPE OF REPORTING PERSON*
IA
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** less than 1%
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 910741107 SCHEDULE 13D Page 8 of 10 Pages
This Statement constitutes Amendment No. 2 to the Schedule 13D filed with
the Securities and Exchange Commission on August 15, 2000 by Southwest
Securities, Inc., a Delaware corporation ("Southwest"), David Glatstein ("Mr.
Glatstein"), Jerome N. Glatstein Trust (the "Trust") and Fiduciary Financial
Services of the Southwest, Inc., a Texas corporation ("FFSS"). The Schedule 13D
was amended on August 25, 2000, to reflect that both EQSF Advisers, Inc., a New
York corporation ("EQSF Advisers"), and M.J. Whitman Advisers, Inc., a New York
corporation ("MJ Whitman"), became members of the group. Southwest, Mr.
Glatstein, the Trust, FFSS, EQSF Advisers, and MJ Whitman collectively
constitute the group (the "Group"). Except as specifically set forth herein, the
Schedule 13D filed on August 15, 2000, as amended August 25, 2000, remains
unmodified. Capitalized terms, unless otherwise defined herein, shall have the
meaning ascribed in Schedule 13D, as amended.
Item 1. Security and Issuer.
Item 1 is amended and restated as follows:
This statement relates to the common shares, no par value per share of the
Issuer (the "Common Shares"). The Declaration of Trust of the Issuer authorizes
the issuance of 500,000,000 Common Shares. The beneficial ownership of the Group
in this Schedule 13D is based upon 8,652,409 Common Shares being issued and
outstanding on November 13, 2000 as reported in the Issuer's amended quarterly
report filed on November 14, 2000 with the Securities and Exchange Commission on
Form 10-Q for the quarter ended September 20, 2000. The principal executive
offices of the Issuer are located at 5847 San Felipe, Suite 850, Houston, Texas
77057.
Item 5. Interest in Securities of the Issuer.
Item 5 is amended in its entirety as follows:
(a) The Group. The Group is the beneficial owner of 811,429 Common Shares
which constitutes approximately 9.4% of the number of issued and outstanding
Common Shares. The Group has the sole power to vote and sole power to dispose of
these Common Shares.
(b) Southwest. (i) Southwest is the beneficial owner of 477,175 Common
Shares, which constitutes approximately 5.5% of the number of issued and
outstanding Common Shares. Southwest has the sole power to vote and sole power
to dispose of these Common Shares. By virtue of Southwest's membership in the
Group, Southwest may be deemed to be the beneficial owner of an additional
334,254 Common Shares. Southwest disclaims beneficial ownership of these
additional Common Shares.
(ii) during the last 60 days Southwest has engaged in the following open
market transactions:
Transaction Quantity Trade Date Settlement Date Price
Purchase 1,500 11/13/00 11/16/00 $5.46875
Purchase 10,000 11/15/00 11/20/00 $5.375
Purchase 5,000 11/16/00 11/21/00 $5.1875
Purchase 5,000 11/17/00 11/22/00 $5.125
Purchase 5,000 11/17/00 11/22/00 $5.00
Purchase 5,000 11/17/00 11/22/00 $4.75
Purchase 5,000 11/22/00 11/28/00 $4.1875
Purchase 5,000 11/27/00 11/30/00 $4.1875
Purchase 5,000 11/29/00 12/04/00 $4.375
Purchase 10,500 11/30/00 12/05/00 $4.0625
<PAGE>
CUSIP No. 910741107 SCHEDULE 13D Page 9 of 10 Pages
(c) Mr. Glatstein. Mr. Glatstein is the beneficial owner of 4,000 Common
Shares, which constitutes less than 1% of the number of issued and outstanding
Common Shares. He has the sole power to vote and sole power to dispose of these
Common Shares. By virtue of Mr. Glatstein's membership in the Group, Mr.
Glatstein may be deemed to be the beneficial owner of an additional 807,429
Common Shares. Mr. Glatstein disclaims beneficial ownership of these additional
Common Shares.
(d) Jerome N. Glatstein Trust. Jerome N. Glatstein Trust is the beneficial
owner of 1,500 Common Shares, which constitute less than 1% of the number of
issued and outstanding Common Shares. By virtue of the Trust's membership in the
Group, the Trust may be deemed to be the beneficial owner of an additional
809,929 Common Shares. The Trust disclaims beneficial ownership of these
additional Common Shares.
(e) FFSS. FFSS is a registered investment adviser with full written
discretionary power to buy or sell any Common Shares owned by its clients
without their approval or subsequent ratification, and as such qualifies as the
beneficial owner of 183,954 Common Shares, which is approximately 2.1% of the
number of issued and outstanding Common Shares. FFSS has the sole power to vote
and sole power to dispose of such Common Shares. By virtue of FFSS's membership
in the Group, FFSS may be deemed to be the beneficial owner of an additional
627,475 Common Shares. FFSS disclaims beneficial ownership of these additional
Common Shares.
(f) EQSF Advisers. EQSF Advisers is the beneficial owner of 107,700 Common
Shares, which constitutes approximately 1.2% of the number of issued and
outstanding Common Shares. EQSF Advisers has the sole power to vote and sole
power to dispose of these Common Shares. By virtue of EQSF Advisers' membership
in the Group, EQSF Advisers may be deemed to be the beneficial owner of an
additional 703,729 Common Shares. EQSF Advisers disclaims beneficial ownership
of these additional Common Shares.
(g) MJ Whitman. MJ Whitman is the beneficial owner of 37,100 Common
Shares, which constitutes less than 1% of the number of issued and outstanding
Common Shares. MJ Whitman has the sole power to vote and sole power to dispose
of these Common Shares. By virtue of MJ Whitman's membership in the Group, MJ
Whitman may be deemed to be the beneficial owner of an additional 774,329 Common
Shares. MJ Whitman disclaims beneficial ownership of these additional Common
Shares.
Item 7. Material to be filed as Exhibits.
Item 7 is amended in its entirety as follows:
Exhibit 1: Amended Joint Filing Agreement
<PAGE>
CUSIP No. 910741107 SCHEDULE 13D Page 10 of 10 Pages
SIGNATURES
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.
December 6, 2000
Southwest Securities, Inc.
By: /s/ David Glatstein
-----------------------------------
David Glatstein, President and CEO
/s/ David Glatstein
--------------------------------------
David Glatstein, Individually
Jerome N. Glatstein Trust
By: /s/ David Glatstein
-----------------------------------
David Glatstein, Trustee
Fiduciary Financial Services
of the Southwest, Inc.
By: /s/ Paul H. Welch
-----------------------------------
Paul H. Welch, President
EQSF Advisers, Inc.
By: /s/ W. James Hall
-----------------------------------
W. James Hall, Secretary
M.J. Whitman Advisers, Inc.
By: /s/ W. James Hall
-----------------------------------
W. James Hall, Secretary
