SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No._______)
Specialty Paperboard
(Name of Issuer)
Common Stock
(Title of Class of Securities)
847504107
(CUSIP Number)
1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of Above
Persons. 47-0776925
2) Check the Appropriate Box if a Member of a Group.
(a) _____
(b) XX
-----
3) SEC Use Only.
4) Citizensbip or Place of Organization. State of Nebraska
Number of Shares Beneficially Owned by Each Reporting Person With:
5) Sole Voting Power 627,375
6) Shared Voting Power 0
7) Sole Dispositive Power 627,375
8) Shared Dispositive Power 0
9) Aggregate Amount Beneficially Owned by Each Reporting Person. 627,375
10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares. ( )
11) Percent of Class Represented by Amount in Row 9. 15.53%
12) Type of Reporting Person. Investment Advisor (IA)
Check the following box if a fee is being paid with this statement ( )
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SCHEDULE 13G Page -2
Item 1 (a). Name of Issuer: Specialty Paperboard
Item 2 (a). Name of Person Filing: KPM Investment Management Inc.
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 23d-2(b),
check whether the person filing is a:
(e) [xx] Investment Adviser registered under section 203 of the
Investment Advisers Act of 1940
Item 4. Ownership Investment Advisor, representing numerous discretionary
accounts, beneficially owns 627,375 shares of common stock
representing 15.53% of the total outstanding (4039092). Filer has
sole voting and dispositive power.
Item 5. Ownership of Five Percent (5%) or Less of a Class. [ ]
Item 6. Ownership of more than Five Percent(5%) on behalf of another person.
N/A
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company.
N/A
Item 8. Identification and Classification of Member of the Group.
N/A
Item 9. Notice of Dissolution of Group.
N/A
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 no acquired in connection with or as a participant in
any transaction having such purposes or effect.
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 2-3-97 /S/ Rodney D. Cerny
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KPM Investment Management, Inc.
SECURITY CROSS REFERENCE
December 31, 1996
Security: spbi (Specialty Paperboard)
Price: 20.000
PORTFOLIO TOTAL MARKET UNREALIZED
CODE NAME QUANTITY COST VALUE GAIN/LOSS
- --------- ---------------------------------- -------- ------------ ------------ -----------
<S> <C> <C> <C> <C> <C>
16715360 Omaha Construction Industry P/P 40,000 467,337.50 800,000.00 332,662.50
17285 KPTC FBO: Quality Living Inc. Lied 400 7,890.00 8,000.00 110.00
Endowment
2085 KP Trust FBO: Ecklund, Glenn Trust 1,200 14,820.00 24,000.00 9,180.00
30030717 Abbott, R. Cody - IRA 900 6,626.38 18,000.00 11,373.62
30213156 Ancona, Carl IRA 600 11,159.45 12,000.00 840.55
30213585 Antolak, Stanley IRA 1,900 25,175.00 38,000.00 12,825.00
30414112 Bailey, William W. - IRA 1,100 7,474.79 22,000.00 14,525.21
30918947 Brushwyler, Robert W. - IRA 500 3,721.31 10,000.00 6,278.69
31321602 Clark, John V. Jr. - IRA 800 5,302.00 16,000.00 10,698.00
31680435 Davis, John B. -IRA 2,700 21,310.37 54,000.00 32,689.63
33633526 Frank, Albert R. - IRA 800 11,880.00 16,000.00 4,120.00
33936095 Griffis, Gary L. - IRA 800 5,744.06 16,000.00 10,255.94
34440414 Hughes, Virginia - IRA 1,200 8,400.00 24,000.00 15,600.00
35698327 Mapes, Jane SEP IRA 1,500 19,037.50 30,000.00 10,962.50
35753559 Mahoney, Robert w. - IRA 300 3,459.14 6,000.00 2,540.86
36357879 Naughton, Elizabeth - IRA 650 7,198.69 13,000.00 5,801.31
37670939 Ruge, Daniel MD - IRA 700 5,392.65 14,000.00 8,607.35
38374565 Sorensen, Mark B. MD SEP\IRA 1,700 12,933.89 34,000.00 21,066.11
40000084 Midwest Laboratories, Inc., P/S 5,000 36,740.04 100,000.00 63,259.96
40000098 Midwest Laboratories, Inc. P/P 5,000 36,748.17 100,000.00 63,251.83
40187005 Andersen Berkshire Lauritsen & 1,000 7,375.00 20,000.00 12,625.00
Brower P/S
40481380 Barlow, Jobnson, Flodman, Sutter, 1,700 12,533.33 34,000.00 21,466.67
Guenzel & Eske P/S
40616954 Behlen Mfg. Co. 401K Thrift Plan & 10,200 73,812.95 204,000.00 130,187.05
Trust
40617270 Berens & Tate PC 401K 1,200 13,548.28 24,000.00 10,451.72
41315281 City of Holdrege P/P 900 6,469.98 18,000.00 11,530.02
41321475 City of Gering Police Officers P/P 600 4,600.01 12,000.00 7,399.99
(Aggressive Growth)
41321526 Clark Bros. Transfer Inc. ESOP 900 6,702.44 18,000.00 11,297.56
41321630 Cliffs Notes Inc. MP P/P 1,000 7,375.35 20,000.00 12,624.65
41422262 Columbus Medical P/P Equity Account 1,900 15,246.66 38,000.00 22,753.34
41714114 Fitzgerald, Schorr, Barmettler & 3,500 24,524.34 70,000.00 45,475.66
Brennan P/S
43129791 Erickson & Sederstrom 401K - Balanced 1,950 15,920.95 39,000.00 23,079.05
43174689 Erickson & Sederstrom P/S 1,200 9,592.26 24,000.00 14,407.74
43174726 Erickson & Sederstrom 401K - Equity 2,200 19,926.78 44,000.00 24,073.22
44022765 Hawkins Construction Special Account 2,000 14,936.89 40,000.00 25,063.11
P/S
44206123 Holdrege Medical P/P 1,100 7,888.42 22,000.00 14,111.58
44423862 Indiana Seed Co. P/S 250 1,812.50 5,000.00 3,187.50
1
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KPM Investment Management, Inc.
SECURITY CROSS REFERENCE
December 31, 1996
Security: spbi (Specialty Paperboard)
Price: 20.000
PORTFOLIO TOTAL MARKET UNREALIZED
CODE NAME QUANTITY COST VALUE GAIN/LOSS
- --------- ---------------------------------- -------- ------------ ------------ -----------
44440003 Vishay Intertech Master Trust - KPM - 9,800 113,799.00 196,000.00 82,201.00
Hourly P/P of Sprague Elec.
44490781 Jaeger, Thomas, MD Profit Sharing Plan 800 5,799.53 16,000.00 10,200.47
44541281 IBEW Local No. 22-NECA Pension Plan 9,000 71,832.50 180,000.00 108,167.50
44543954 Painters Local #109 Pension Fund 6,000 43,762.37 120,000.00 76,237.63
45004086 Sioux City Foundry P/P 1,200 8,563.85 24,000.00 15,436.15
45971260 Medical Lab Inc. P/S FBO: Dr. Skoog 3,500 26,106.13 70,000.00 43,893.87
45990904 Fremont Area Medical Center Equity 24,450 179,593.76 489,000.00 309,406.24
46434071 Nebraska County Employees Quality 20,750 152,701.38 415,000.00 262,298.62
Growth Account
46434523 Nebraska Public Employees Quality 72,550 553,201.63 1,451,000.00 897,798.37
Growth Account
46601512 North Platte Firefighters Pension Plan 4,000 28,190.37 80,000.00 51,809.63
(Equity)
46762977 Omaha Public Power District Retirement 70,675 596,630.50 1,413,500.00 816,869.50
Plan
46865560 Paulsen Development Construction Inc. 300 2,266.98 6,000.00 3,733.02
401K (Equity)
46866079 Reilly, Petersen & Hannan, P.L.C. 900 6,752.87 18,000.00 11,247.13
P/S-Equity Account
47066831 Plaindealer Publishing Co., Inc. 401K 600 4,058.30 12,000.00 7,941.70
47066869 Popham, Haik, Schonbrich et al 401K 1,000 7,375.35 20,000.00 12,624.65
FBO: Hugh V Plunkett III
47369022 Reinke Mfg. Co., Inc. Employee P/S 2,600 25,895.14 52,000.00 26,104.86
47369055 Reinke Mfg. Co. Inc. Employer P/S 1,100 10,403.50 22,000.00 11,596.50
47789004 Schluter, Judith H. 1,000 7,457.50 20,000.00 12,542.50
48096144 Danko Emergency Equipment P/S Equity 1,500 10,845.50 30,000.00 19,154.50
Account
48096200 Smeal Fire Apparatus P/S Equity 3,800 27,301.71 76,000.00 48,698.29
Account
48096262 Smeal Manufacturing Company P/S 1,000 7,094.53 20,000.00 12,905.47
Equity Account
48677034 Milbourn, Fehringer, Kessler & Peetz 1,200 9,284.94 24,000.00 14,715.06
P.C. 401K P/S & Trust
49385510 Wintz Funeral Home Inc. P/S Plan 500 3,793.44 10,000.00 6,206.56
50617236 Berry, Rose Mary 1,300 9,903.97 26,000.00 16,096.03
50619607 Bellevue University Ada & James 700 10,147.50 14,000.00 3,852.50
Redding Endowed Business Chair
50717721 Bishop Clarkson Memorial Foundation/ 30,000 208,343.75 600,000.00 391,656.25
Equity
50717735 Bishop Clarkson Memorial Foundation 1,600 17,690.00 32,000.00 14,310.00
Scholarship Fund / Equity
50818273 Borchert, Marshall & Jennie 1,100 14,481.89 22,000.00 7,518.11
2
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KPM Investment Management, Inc.
SECURITY CROSS REFERENCE
December 31, 1996
Security: spbi (Specialty Paperboard)
Price: 20.000
PORTFOLIO TOTAL MARKET UNREALIZED
CODE NAME QUANTITY COST VALUE GAIN/LOSS
- --------- ---------------------------------- -------- ------------ ------------ -----------
51220744 Central States Health & Life of Omaha 2,500 44,012.50 50,000.00 5,987.50
51262381 Catrucco, John 500 3,608.79 10,000.00 6,391.21
51315285 Grand Island Police Officers P/P 2,400 17,194.04 48,000.00 30,805.96
51315290 Grand Island FireFighters P/P Equity 11,900 84,828.31 238,000.00 153,171.69
51320096 KPM INJNDS, Inc. Equity Portfolio 37,500 390,165.50 750,000.00 359,834.50
51320994 Children's Hospital Foundation 5,900 84,909.50 118,000.00 33,090.50
51321521 Clark, William L. Jr. 550 3,954.67 11,000.00 7,045.33
51523232 Custer Public Power District Money 5,000 35,715.62 100,000.00 64,284.38
Purchase P/P
51724546 Devita Family Trust 1,000 14,554.22 20,000.00 5,445.78
51925173 Dolce, Mary Revocable Trust 500 6,143.61 10,000.00 3,856.39
51925187 Dolce, John Revocable Trust 500 6,143.60 10,000.00 3,856.40
52127033 Edwards, Robert & Charlene 1,770 12,683.10 35,400.00 22,716.90
53834623 Geneva Tube Inc. 2,200 18,928.60 44,000.00 25,071.40
54338689 Hetzler, William Tr. 1,900 14,457.43 38,000.00 23,542.57
54339009 Hill, William R. 150 2,145.16 3,000.00 854.84
54489579 Jacobsen, Thomas 1,500 10,903.94 30,000.00 19,096.06
54543901 Insurance Consultants Inc. 1,000 13,822.50 20,000.00 6,177.50
54646517 Jansky, Inc. 1,600 11,374.65 32,000.00 20,625.35
54721700 KPM Equity Partners LP 18,830 140,949.75 376,600.00 235,650.25
54948690 Katelman, Lorrie Farris Trust 600 5,065.45 12,000.00 6,934.55
55018120 Klein, John Trust 500 3,795.00 10,000.00 6,205.00
55451141 Wai, Cecilia Family Trust: Lambert Wai 600 7,650.00 12,000.00 4,350.00
Trustee
55552649 Loseke, Lavonne 2,000 25,766.83 40,000.00 14,233.17
55652998 Lutheran Family Services Foundation 700 7,726.01 14,000.00 6,273.99
Equity
55753327 Maasdam, Chris F. & Cathy A. 500 3,755.35 10,000.00 6,244.65
55754567 McKinney, Daniel MD 4,800 44,051.98 96,000.00 51,948.02
56019915 Mueller-Schluter LP 15,600 118,192.65 312,000.00 193,807.35
56146391 Miskowski, James 800 6,122.50 16,000.00 9,877.50
56257138 Muilenburg, Conrad D. 900 9,458.65 18,000.00 8,541.35
56331992 Farmers Mutual United Insurance 1,600 12,180.70 32,000.00 19,819.30
Company
56357944 NE Farmers Mutual Reinsurance 1,600 12,180.70 32,000.00 19,819.30
Association
56357977 Nebraska Investment Council Fund B 83,800 613,266.05 1,676,000.00 1,062,733.95
Small Cap
56459018 Notre Dame Sisters Endowment Equity 4,000 29,670.20 80,000.00 50,329.80
56662147 Olsen, Cheryl K. Revocable Trust 1,100 9,183.52 22,000.00 12,816.48
56662468 O'Neal, T. Keith 2,600 21,813.53 52,000.00 30,186.47
56865734 Peck, John M. 1,700 12,562.95 34,000.00 21,437.05
56872876 Peller, Thelma L 400 3,017.44 8,000.00 4,982.56
57167410 Prebula, Alvin & Stephanie 1,500 10,245.00 30,000.00 19,755.00
3
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KPM Investment Management, Inc.
SECURITY CROSS REFERENCE
December 31, 1996
Security: spbi (Specialty Paperboard)
Price: 20.000
PORTFOLIO TOTAL MARKET UNREALIZED
CODE NAME QUANTITY COST VALUE GAIN/LOSS
- --------- ---------------------------------- -------- ------------ ------------ -----------
57368611 Ragan, John T., Jr. 1,500 11,215.00 30,000.00 18,785.00
57670580 Ross, John F 1,000 7,866.56 20,000.00 12,133.44
57871927 Schneider, Ronald & Janice Funnel Trust 1,950 15,717.83 39,000.00 23,282.17
57871946 Schluter, Fredric E., Jr. 600 4,474.50 12,000.00 7,525.50
57871951 Schelkopf, Stanley & Donna 1,500 10,905.42 30,000.00 19,094.58
57871965 Schluter, F. E., Jr. Partners Acct. 2 650 9,398.25 13,000.00 3,601.75
57952513 Shenandoah Memorial Hospital 3,500 26,569.08 70,000.00 43,430.92
58072449 Seno A Partnership FBO: James C.Ransom 1,400 10,827.76 28,000.00 17,172.24
58072454 Seno A Partnership FBO: 600 4,800.00 12,000.00 7,200.00
Ransom Generation Skipping Trust
58777207 Theilen, Robert W. 1,600 11,888.18 32,000.00 20,111.82
58980497 University of Nebraska Foundation 1,100 7,413.06 22,000.00 14,586.94
59183521 Wai,Lambert K. Trust 600 6,698.50 12,000.00 5,301.50
59268105 Hestmark Virginia W. Trust 3,500 26,569.08 70,000.00 43,430.92
59688168 Youngstrom, Warren & Jacqueline 4,000 32,069.97 80,000.00 47,930.03
59688192 YSB FBO: Inness, George J. Revocable 1,000 7,240.61 20,000.00 12,759.39
Trust
59688210 YSB FBO: Kennedy, L.C. Marital Trust 600 4,500.78 12,000.00 7,499.22
7764 KPTC: Scottsbluff Police Officers 4,000 28,570.50 80,000.00 51,429.50
Pension Plan
7769 KPTC: Scottsbluff FireFighters 2,100 14,999.51 42,000.00 27,000.49
Pension Plan
822 Kittredge, William R. - IRA 900 6,674.47 18,000.00 11,325.53
9524 KP Trust FBO: Wood, Jane R. 500 6,925.00 10,000.00 3,075.00
-------- ------------ ------------- ------------
627,375 5,251,419.02 12,547,500.00 7,296,080.98
4
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