<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. Five)
Novastar Financial, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common/Warrants/Convertible Preferred
- --------------------------------------------------------------------------------
(Title of Class of Securities)
Common-669947400 Warrants-669947129/669947111/Preferred-669947608/669947707
----------------------------------------------------------------------------
(CUSIP Number)
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
WALLACE R. WEITZ & COMPANY 47-0654095
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group (See Instructions) (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Citizenship or Place of Organization
STATE OF NEBRASKA
- -------------------------------------------------------------------------------
Number of Shares (5) Sole Voting Power
Beneficially 6,372,262
Owned by --------------------------------------------------
Each Reporting (6) Shared Voting Power
Person With: NONE
--------------------------------------------------
(7) Sole Dispositive Power
6,372,262
--------------------------------------------------
(8) Shared Dispositive Power
NONE
- -------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned by Each Reporting Person
6,372,262
- -------------------------------------------------------------------------------
(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) / /
- -------------------------------------------------------------------------------
(11) Percent of Class Represented by Amount in Row (9)
49.00%
- -------------------------------------------------------------------------------
(12) Type of Reporting Person (See Instructions)
IA
- -------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13G Page -2-
ITEM 1.
(a) Name of Issuer
NOVASTAR FINANCIAL, INC.
---------------------------------------------------------------------
(b) Address of Issuer's Principal Executive Offices
1901 WEST 47TH PLACE, SUITE 105
WESTWOOD, KANSAS 66205
---------------------------------------------------------------------
ITEM 2.
(a) Name of Person Filing
WALLACE R. WEITZ & COMPANY
---------------------------------------------------------------------
(b) Address of Principal Business Office or, if none, Residence
1125 SOUTH 103RD STREET, SUITE 600
OMAHA, NEBRASKA 68124-6008
---------------------------------------------------------------------
(c) Citizenship
STATE OF NEBRASKA
---------------------------------------------------------------------
(d) Title of Class of Securities
COMMON/WARRANTS/CONVERTIBLE PREFERRED
---------------------------------------------------------------------
(e) CUSIP Number
COMMON-669947400
WARRANTS-669947129/669947111
CONVERTIBLE PREFERRED-669947608/669947707
---------------------------------------------------------------------
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-1(b), OR
23d-d(b), CHECK WHETHER THE PERSON FILING IS A:
/X/ INVESTMENT ADVISER REGISTERED UNDER SECTION 203 OF THE INVESTMENT
ADVISER ACT OF 1940
ITEM 4. OWNERSHIP
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount beneficially owned:
6,372,262
---------------------------------------------------------------------------
(b) Percent of class:
49.00%
---------------------------------------------------------------------------
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote
6,372,262
-----------------------------------------------------------------
(ii) Shared power to vote or to direct the vote
NONE
-----------------------------------------------------------------
(iii) Sole power to dispose or to direct the disposition of
6,372,262
-----------------------------------------------------------------
(iv) Shared power to dispose or to direct the disposition of
NONE
-----------------------------------------------------------------
<PAGE>
ITEM 10. CERTIFICATION
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the
purpose of and do not have the effect of changing or influencing
the control of the issuer of such securities and were not
acquired in connection with or as a participant in any
transaction having such purposes or effect.
/s/ Wallace R. Weitz
-----------------------------------
Wallace R. Weitz, President
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.
Date: 4/9/99 /s/ Wallace R. Weitz
-------- --------------------------------
Wallace R. Weitz, President
