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. 1)
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)
August 25, 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 14 Pages)
<PAGE>
CUSIP No. 910741107 SCHEDULE 13D Page 2 of 14 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
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
338,500
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 338,500
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
338,500
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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)
3.8%
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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 14 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
--------------------------------------------------------------------------------
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)
**
--------------------------------------------------------------------------------
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 14 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
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
** less than 1%
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 910741107 SCHEDULE 13D Page 5 of 14 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) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
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
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 183,954
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
183,954
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 910741107 SCHEDULE 13D Page 6 of 14 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) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
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 14 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) |_|
--------------------------------------------------------------------------------
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) |_|
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
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*
IA
--------------------------------------------------------------------------------
** less than 1%
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 910741107 SCHEDULE 13D Page 8 of 14 Pages
This Statement constitutes Amendment No. 1 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"). On August 25,
2000, EQSF Advisers, Inc., a New York corporation ("EQSF Advisers"), and M.J.
Whitman Advisers, Inc., a New York corporation ("MJ Whitman"), joined 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 remains unmodified.
Capitalized terms, unless otherwise defined herein, shall have the meaning
ascribed in Schedule 13D.
Item 2. Identity and Background.
Item 2 is amended and restated as follows:
This Statement is being filed by the Group, Southwest, Mr. Glatstein, the
Trust, FFSS, EQSF Advisers and MJ Whitman.
The Group consists of Southwest, Mr. Glatstein, the Trust, FFSS, EQSF
Advisers and MJ Whitman. The Group was formed on August 25, 2000.
Item 2 is further amended by adding the following to the end thereof:
EQSF Advisers is a New York corporation. Its principal business is being
an SEC registered Investment Adviser. The address of its principal business and
its principal office is 767 3rd Avenue, New York, New York, 10017. As a
registered investment adviser with full written discretionary investment power
to buy or sell any Common Shares for mutual fund, institutional and individual
clients, including the Third Avenue Real Estate Value Fund, without prior
approval, EQSF Advisers qualifies as a beneficial owner of such Common Shares.
MJ Whitman is a New York corporation. Its principal business is being an
SEC registered Investment Adviser. The address of its principal business and its
principal office is 767 3rd Avenue, New York, New York, 10017. As a registered
investment adviser with full written discretionary investment power to buy or
sell any Common Shares for institutional and individual clients without prior
approval, MJ Whitman qualifies as a beneficial owner of such Common Shares.
The directors and executive officers of EQSF Advisers and MJ Whitman are
set forth on Schedules III and IV respectively attached hereto. Schedules III
and IV set forth the following information with respect to each such person.
(i) name;
(ii) business address (or residence address where indicated);
(iii) present principal occupation or employment and the name, principal
business and address of any corporation or other organization in which such
employment is conducted; and
(iv) citizenship.
During the last five years, neither EQSF Advisers, MJ Whitman, nor those
individuals set forth on Schedules III and IV attached hereto have been (i)
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors); or (ii) 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 of, 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.
Item 5 is amended as follows: (a) is amended in its entirety to read as
follows and new sections (f) and (g) are added.
(a) The Group. The Group is the beneficial owner of 672,754 Common Shares
which constitutes
<PAGE>
CUSIP No. 910741107 SCHEDULE 13D Page 9 of 14 Pages
approximately 7.5% 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.
(f) EQSF Advisers. (i) 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 565,054 Common Shares. EQSF Advisers disclaims beneficial ownership
of these additional Common Shares.
(ii) during the last 60 days EQSF Advisers has engaged in the following
open market transaction:
Transaction Quantity Trade Date Settlement Date Price
Sale 25,000 7/14/00 7/19/00 $5.75
(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 635,654 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
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.
August 25, 2000
Southwest Securities, Inc.
By: /s/ David Glatstein
----------------------------------------
David Glatstein, President and CEO
/s/ David Glatstein
--------------------------------------------
David Glatstein, Individually
<PAGE>
CUSIP No. 910741107 SCHEDULE 13D Page 10 of 14 Pages
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
<PAGE>
CUSIP No. 910741107 SCHEDULE 13D Page 11 of 14 Pages
Exhibit Index
Exhibit No. Description
----------- -----------
1. Amended Joint Filing Agreement
<PAGE>
CUSIP No. 910741107 SCHEDULE 13D Page 12 of 14 Pages
Schedule III
The name and present principal occupation of each of the executive
officers and directors of EQSF Advisers are set forth below. Each person
identified below is a United States citizen, and their principal business
address is 767 3rd Avenue, New York, New York 10017. EQSF Advisers is a
registered Investment Adviser.
Name Present Principal Occupation or Employment
---- ------------------------------------------
Martin J. Whitman Chief Executive Officer and Chairman of the Board of
Directors
David M. Barse President, Chief Operating Officer and Director
Michael T. Carney Chief Financial Officer
W. James Hall General Counsel and Secretary
Barbara E. Whitman Director
<PAGE>
CUSIP No. 910741107 SCHEDULE 13D Page 13 of 14 Pages
Schedule IV
The name and present principal occupation of each of the executive officers and
directors of MJ Whitman are set forth below. Each person identified below is a
United States citizen, and their principal business address is 767 3rd Avenue,
New York, New York 10017. MJ Whitman is a registered Investment Adviser.
Name Present Principal Occupation or Employment
---- ------------------------------------------
Martin J. Whitman Chief Executive Officer and Chairman of the Board
of Directors
David M. Barse President, Chief Operating Officer and Director
Michael T. Carney Chief Financial Officer and Director
W. James Hall General Counsel and Secretary
