OMB APPROVAL
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Exprires: August 31, 1999
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )*
Tremont Advisers, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Class B Common Stock
- --------------------------------------------------------------------------------
(Title of Class of Securities)
894729201
------------------------------------------------------------------------
(CUSIP Number)
John L. Keeley, Jr., Keeley Investment Corp.
401 South LaSalle Street, Suite 1201, Chicago, Illinois 60605
(312) 786-5000
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
August 17, 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 that is the subject of this Schedule 13D, and is filing this
schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-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 Section 240.13d-7(b) for
other parties to whom copies are to be sent.
* 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 ("Act") 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).
(Continued on following page(s))
Page 1 of 13 Pages
<PAGE>
- -----------------------
CUSIP No. 894729201
- -----------------------
========= =====================================================================
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
John L. Keeley, Jr.; Social Security No. ###-##-####
========== =====================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
N/A
========== =====================================================================
3 SEC USE ONLY
========== =====================================================================
4 SOURCE OF FUNDS*
PF
========== =====================================================================
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
N/A
========== =====================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
=========================== ========= ==========================================
7 SOLE VOTING POWER
NUMBER OF 401,987
SHARES ========= ==========================================
8 SHARED VOTING POWER
BENEFICIALLY -0-
OWNED BY ========= ==========================================
9 SOLE DISPOSITIVE POWER
EACH 401,987
REPORTING ========= ==========================================
10 SHARED DISPOSITIVE POWER
PERSON -0-
WITH
=========== ====================================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
401,987
=========== ====================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
N/A
=========== ====================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
12.16%
=========== ====================================================================
14 TYPE OF REPORTING PERSON*
IN
=========== ====================================================================
Page 2 of 13 Pages
<PAGE>
- -----------------------
CUSIP No. 894729201
- -----------------------
========= =====================================================================
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Barabra G. Keeley; Social Security No. ###-##-####
========== =====================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
N/A
========== =====================================================================
3 SEC USE ONLY
========== =====================================================================
4 SOURCE OF FUNDS*
PF
========== =====================================================================
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
N/A
========== =====================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
=========================== ========= ==========================================
7 SOLE VOTING POWER
NUMBER OF 25,000
SHARES ========= ==========================================
8 SHARED VOTING POWER
BENEFICIALLY -0-
OWNED BY ========= ==========================================
9 SOLE DISPOSITIVE POWER
EACH 25,000
REPORTING ========= ==========================================
10 SHARED DISPOSITIVE POWER
PERSON -0-
WITH
=========== ====================================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
25,000
=========== ====================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
N/A
=========== ====================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.78%
=========== ====================================================================
14 TYPE OF REPORTING PERSON*
IN
=========== ====================================================================
Page 3 of 13 Pages
<PAGE>
- -----------------------
CUSIP No. 894729201
- -----------------------
========= =====================================================================
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
JGJ Partnership; I.R.S. Identification No. 36-3966526
========== =====================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
N/A
========== =====================================================================
3 SEC USE ONLY
========== =====================================================================
4 SOURCE OF FUNDS*
OO (Funds of JGJ Partnership)
========== =====================================================================
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
N/A
========== =====================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinios
=========================== ========= ==========================================
7 SOLE VOTING POWER
NUMBER OF 24,642
SHARES ========= ==========================================
8 SHARED VOTING POWER
BENEFICIALLY -0-
OWNED BY ========= ==========================================
9 SOLE DISPOSITIVE POWER
EACH 24,642
REPORTING ========= ==========================================
10 SHARED DISPOSITIVE POWER
PERSON -0-
WITH
=========== ====================================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
24,642
=========== ====================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
N/A
=========== ====================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.77%
=========== ====================================================================
14 TYPE OF REPORTING PERSON*
PN
=========== ====================================================================
Page 4 of 13 Pages
<PAGE>
- -----------------------
CUSIP No. 894729201
- -----------------------
========= =====================================================================
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Kamco Limited Partnership No. 1; I.R.S. Identification No. 36-3528572
========== =====================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
N/A
========== =====================================================================
3 SEC USE ONLY
========== =====================================================================
4 SOURCE OF FUNDS*
OO (Funds of Kamco Limited Partnership No. 1)
========== =====================================================================
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
N/A
========== =====================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinios
=========================== ========= ==========================================
7 SOLE VOTING POWER
NUMBER OF 82,140
SHARES ========= ==========================================
8 SHARED VOTING POWER
BENEFICIALLY -0-
OWNED BY ========= ==========================================
9 SOLE DISPOSITIVE POWER
EACH 82,140
REPORTING ========= ==========================================
10 SHARED DISPOSITIVE POWER
PERSON -0-
WITH
=========== ====================================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
82,140
=========== ====================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
N/A
=========== ====================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
2.57%
=========== ====================================================================
14 TYPE OF REPORTING PERSON*
PN
=========== ====================================================================
Page 5 of 13 Pages
<PAGE>
- -----------------------
CUSIP No. 894729201
- -----------------------
========= =====================================================================
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
John L. Keeley, Jr. Foundation; I.R.S. Identification No. 36-3865180
========== =====================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
N/A
========== =====================================================================
3 SEC USE ONLY
========== =====================================================================
4 SOURCE OF FUNDS*
OO (Funds of John L. Keeley, Jr. Foundation)
========== =====================================================================
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
N/A
========== =====================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
=========================== ========= ==========================================
7 SOLE VOTING POWER
NUMBER OF 11,250
SHARES ========= ==========================================
8 SHARED VOTING POWER
BENEFICIALLY -0-
OWNED BY ========= ==========================================
9 SOLE DISPOSITIVE POWER
EACH 11,250
REPORTING ========= ==========================================
10 SHARED DISPOSITIVE POWER
PERSON -0-
WITH
=========== ====================================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11,250
=========== ====================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
N/A
=========== ====================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.35%
=========== ====================================================================
14 TYPE OF REPORTING PERSON*
EP
=========== ====================================================================
Page 6 of 13 Pages
<PAGE>
- -----------------------
CUSIP No. 894729201
- -----------------------
========= =====================================================================
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Keeley Family Limited Partnership; I.R.S. Identification
No. 36-3529257
========== =====================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
N/A
========== =====================================================================
3 SEC USE ONLY
========== =====================================================================
4 SOURCE OF FUNDS*
OO (Funds of Keeley Family Limited Partnership)
========== =====================================================================
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
N/A
========== =====================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
=========================== ========= ==========================================
7 SOLE VOTING POWER
NUMBER OF 200
SHARES ========= ==========================================
8 SHARED VOTING POWER
BENEFICIALLY -0-
OWNED BY ========= ==========================================
9 SOLE DISPOSITIVE POWER
EACH 200
REPORTING ========= ==========================================
10 SHARED DISPOSITIVE POWER
PERSON -0-
WITH
=========== ====================================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
200
=========== ====================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
N/A
=========== ====================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.01%
=========== ====================================================================
14 TYPE OF REPORTING PERSON*
PN
=========== ====================================================================
Page 7 of 13 Pages
<PAGE>
Item 1. Security and Issuer:
Title of Class of Securities:
Class B Common Stock, $.01 par value (the "Securities").
Address of Issuer's Principal Executive Offices:
Tremont Advisors, Inc.
555 Theodore Fremd Avenue
Rye, New York 10580
Item 2. Identity and Background:
(a) (i) John L. Keeley, Jr. ("Mr. Keeley")
(ii) Barbara G. Keeley ("Mrs. Keeley")
(iii) JGJ Partnership ("JGJ")
(iv) Kamco Limited Partnership No. 1 ("Kamco")
(v) John L. Keeley, Jr. Foundation ("JLKF")
(vi) Keeley Family Limited Partnership ("KFLP")
(b) (i-vi) 401 South LaSalle Street, Suite 1201
Chicago, Illinois 60605
(c) (i) Mr. Keeley is the general partner of JGJ and
KFLP, the sole general partner of Kamco, and
the President and Treasurer of JLKF.
(ii) Mrs. Keeley is the spouse of Mr. Keeley.
(iii) JGJ is an investment partnership.
(iv) Kamco is an investment partnership.
(v) JLKF is a private charitable foundation
organized as a nonprofit corporation.
(vi) KFLP is an investment partnership.
(d) During the past five years, none of Mr.
Keeley, Mrs. Keeley, JGJ, Kamco, JLKF,
KFLP, nor any of their respective officers
or directors, has been convicted in a
criminal proceeding.
(e) During the past five years, none of Mr.
Keeley, Mrs. Keeley, JGJ, Kamco, JLKF,
KFLP, nor any of their respective officers
or directors, has been a party to a civil
proceeding as a result of which any such
person is subject to a judgment, decree or
final order enjoining any such person from
or mandating activities subject to federal
or state securities laws, or finding any
such person in violation of such laws.
(f) (i) Mr. Keeley is a United States citizen.
(ii) Mrs. Keeley is a United States citizen.
(iii) JGJ is organized under the laws of Illinois.
(iv) Kamco is organized under the laws of
Illinois.
(v) JLKF is organized under the laws of Illinois.
(vi) KFLP is organized under the laws of Illinois.
Page 8 of 13 Pages
<PAGE>
Item 3. Source and Amount of Funds or Other Consideration:
Mr. and Mrs. Keeley used personal funds to purchase the
Securities reported by them, except for the 6,250 shares
which may be acquired through the exercise of a stock
option, for which no consideration was paid. The Securities
reported by JGJ was the assets of such partnership. The
source of funds for the purchases by Kamco was the assets
of such partnership. The shares reported by JLKF were
received as a contribution from Mr. Keeley. The source of
funds for the purchases reported by KFLP was the assets of
such partnership.
Item 4. Purpose of Transaction:
The acquisitions made by Mr. and Mrs. Keeley, JGJ, Kamco,
JLKF and KFLP were made for investment purposes and not for
the purposes of acquiring control of Tremont. Mr. and Mrs.
Keeley, JGJ, Kamco, JLKF and KFLP may from time to time
purchase or sell these shares in the ordinary course of
business, as permitted by the federal securities laws. Mr.
Keeley is a member of the Board of Directors of Tremont and
as such is part of the management of Tremont. In his
capacity as a director of Tremont, he may suggest or
consider changes in the operations, management or capital
structure of Tremont as a means of enhancing shareholder
values. Such suggestions or considerations may relate to
one or more of the transactions specified in clauses (a)
through (j) of Item 4 of the Schedule 13D form, including,
without limitation, such matters as disposing of one or
more businesses, selling Tremont, or acquiring another
company or business, changing operating or marketing
strategies, adopting or not adopting certain types of
anti-takeover measures and restructuring Tremont's
capitalization or dividend policy. Other than as described
above, none of Mr. Keeley, Mrs. Keeley, JGJ, Kamco, JLKF
nor KFLP has any present plans or proposals which relate to
or would result in any transaction, change or event
specified in clauses (a) through (j) of Item 4 of the
Schedule 13D form.
Item 5. Interest in Securities of the Issuer.
(a) The aggregate number and percentage of Securities to
which this Schedule 13D relates is 545,219 shares,
representing 16.49% of the 3,305,938 shares
outstanding (includes 3,197,700 shares outstanding
in the Issuer's most recently filed Form 10-Q for
the period ended March 31, 1999, plus 101,998 shares
of Class A Common Stock which are convertible into
101,987 shares of Class B Common Stock, plus 6,250
shares which may be acquired through the exercise of
a stock option). The Securities are beneficially
owned as follows:
Shares of % of Class
Class B of Class B
Name Common Stock Common Stock
---- ------------ ------------
John L. Keeley, Jr..................... 401,987 12.16%
Barbara G. Keeley...................... 25,000 0.76%
JGJ Partnership........................ 24,642 0.75%
John L. Keeley, Jr. Foundation......... 11,250 0.34%
Kamco Limited Partnership No. 1........ 82,140 2.48%
Keeley Family Limited Partnership...... 200 0.01%
--- ----
TOTAL 545,219 16.49%
Page 9 of 13 Pages
<PAGE>
Mr. Keeley is deemed to have beneficial ownership of
the Securities beneficially owned by each of the
foregoing persons. The 401,987 shares reported as
beneficially owned by Mr. Keeley include 43,750
shares held by the Keeley Investment Corp. Profit
Sharing Plan & Trust, for which Mr. Keeley is
Trustee, 43,750 shares held by the Keeley Investment
Corp. Pension Plan & Trust for which Mr. Keeley is
Trustee, 101,987 shares of Class A Common Stock
which are convertible into 101,987 shares of Class B
Common Stock, and 6,250 shares which may be acquired
through the exercise of a stock option.
(b) (i) Number of shares as to which Mr. Keeley has:
sole power to vote or to direct the vote:
401,987; shared power to vote or to direct
the vote: 0; sole power to dispose or to
direct the disposition of: 401,987; shared
power to dispose or to direct the disposition
of: 0
(ii) Number of shares as to which Mrs. Keeley has:
sole power to vote or to direct the vote:
25,000 ; shared power to vote or to direct
the vote: 0; sole power to dispose or to
direct the disposition of: 25,000; shared
power to dispose or to direct the disposition
of: 0
(iii) Number of shares as to which JGJ has: sole
power to vote or to direct the vote: 24,642;
shared power to vote or to direct the vote:
0; sole power to dispose or to direct the
disposition of: 24,642; shared power to
dispose or to direct the disposition of: 0;
(iv) Number of shares as to which Kamco has: sole
power to vote or to direct the vote: 82,140;
shared power to vote or to direct the vote:
0; sole power to dispose or to direct the
disposition of: 82,140; shared power to
dispose or to direct the disposition of: 0
(v) Number of shares as to which JLKF has: sole
power to vote or to direct the vote: 11,250;
shared power to vote or to direct the vote: 0
sole power to dispose or to direct the
disposition of: 11,250; shared power to
dispose or to direct the disposition of: 0
(vi) Number of shares as to which KFLP has: sole
power to vote or to direct the vote: 200;
shared power to vote or to direct the vote:
0; sole power to dispose or to direct the
disposition of: 200; shared power to dispose
or to direct the disposition of: 0
Page 10 of 13 Pages
<PAGE>
(c) There have been no transactions in Securities by Mr.
Keeley, Mrs. Keeley, JGJ, Kamco, JLKF or KFLP in the
past sixty days.
(d) Inapplicable.
(e) Inapplicable.
Item 6. Contracts, Arrangements, Understandings or Relationships
With Respect to Securities of the Issuer.
None of Mr. Keeley, Mrs. Keeley, JGJ, Kamco, JLKF nor KFLP
are parties to any contract, arrangement, understanding or
relationship with respect to any Securities of Tremont.
Item 7. Material to Be Filed as Exhibits.
Exhibit 1 - Agreement to Make a Joint Filing
Page 11 of 13 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 this 17th day of August, 1999.
/s/ John L. Keeley, Jr.
John L. Keeley, Jr.
/s/ Barbara G. Keeley
Barbara G. Keeley
JGJ PARTNERSHIP
/s/ John L. Keeley, Jr.
John L. Keeley, Jr., General Partner
KAMCO LIMITED PARTNERSHIP NO. 1
/s/ John L. Keeley, Jr.
John L. Keeley, Jr., General Partner
JOHN L. KEELEY, JR. FOUNDATION
/s/ John L. Keeley, Jr.
John L. Keeley, Jr., President and Treasurer
KEELEY FAMILY LIMITED PARTNERSHIP
/s/ John L. Keeley, Jr.
John L. Keeley, Jr., General Partner
Page 12 of 13 Pages
<PAGE>
EXHIBIT 1 TO SCHEDULE 13D
John L. Keeley, Jr., Barbara G. Keeley, JGJ Partnership, Kamco Limited
Partnership No. 1, John L. Keeley, Jr. Foundation and Keeley Family Limited
Partnership agree that, unless differentiated, this Schedule 13D is filed on
behalf of each of the parties.
Dated this 17th day of August, 1999.
/s/ John L. Keeley, Jr.
John L. Keeley, Jr.
/s/ Barbara G. Keeley
Barbara G. Keeley
JGJ PARTNERSHIP
/s/ John L. Keeley, Jr.
John L. Keeley, Jr., General Partner
KAMCO LIMITED PARTNERSHIP NO. 1
/s/ John L. Keeley, Jr.
John L. Keeley, Jr., General Partner
JOHN L. KEELEY, JR. FOUNDATION
/s/ John L. Keeley, Jr.
John L. Keeley, Jr., President and Treasurer
KEELEY FAMILY LIMITED PARTNERSHIP
/s/ John L. Keeley, Jr.
John L. Keeley, Jr., General Partner
Page 13 of 13 Pages
