SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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Under the Securities Exchange Act of 1934
SCHEDULE 13G
INFORMATION STATEMENT PURSUANT TO RULES 13d-1 AND 13d-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934
ACT Networks Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
000975102
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(CUSIP Number)
December 31, 1998
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
|X| Rule 13d-1(b)
|_| Rule 13d-1(c)
|_| Rule 13d-1(d)
Page 1 of 6 Pages
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<TABLE>
<CAPTION>
SCHEDULE 13G
CUSIP No. 000975102 Page 2 of 6 Pages
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<S> <C>
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Gilder, Gagnon, Howe & Co.
13-3174112
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2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
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3) SEC USE ONLY
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4) CITIZENSHIP OR PLACE OF ORGANIZATION
New York
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5) SOLE VOTING POWER
NUMBER None
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OF 6) SHARED VOTING POWER
SHARES
BENEFICIALLY None
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OWNED BY 7) SOLE DISPOSITIVE POWER
EACH
REPORTING None
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PERSON 8) SHARED DISPOSITIVE POWER
WITH
500,450
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9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
500,450
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10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES |_|
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11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.3%
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12) TYPE OF REPORTING PERSON
BD
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</TABLE>
Page 2 of 6 Pages
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Schedule 13G
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Item 1(a). Name of Issuer:
ACT Networks, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
188 Camino Ruiz
Camarillo, Ca. 93012
Item 2(a). Name of Person Filing:
Gilder, Gagnon, Howe & Co.
Item 2(b). Address of Principal Business Office or, if None, Residence:
1775 Broadway, 26th Floor
New York, NY 10019
Item 2(c). Citizenship:
New York
Item 2(d). Title of Class of Securities:
Common Stock
Item 2(e). CUSIP Number: 000975102
Item 3. If this statement is filed pursuant to ss.ss.240.13d-1(b), or
240.13d-2(b) or (c), check whether the person filing is a:
(a) |X| Broker or Dealer Registered Under Section 15 of the Act (15
U.S.C. 78o)
(b) |_| Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c)
(c) |_| Insurance Company as defined in section 3(a)(19) of the Act
(15 U.S.C. 78c)
(d) |_| Investment Company registered under section 8 of the
Investment Company Act of 1940 (15 U.S.C. 80a-8)
(e) |_| Investment Adviser in accordance with
ss.240.13d-1(b)(1)(ii)(E)
(f) |_| Employee benefit plan or endowment fund in accordance with
ss.240.13d-1(b)(1)(ii)(F)
Page 3 of 6 Pages
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(g) |_| Parent Holding Company or control person in accordance
with ss.240.13d-1(b)(ii)(G)
(h) |_| Savings Association as defined in ss.3(b) of the Federal
Deposit Insurance Act (12 U.S.C. 1813)
(i) |_| Church plan that is excluded from the definition of an
investment company under ss.3(c)(15) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3)
(j) |_| Group, in accordance with ss.240.13d-1(b)(ii)(J)
Item 4. Ownership.
(a) Amount beneficially owned: 500,450
(b) Percent of class: 5.3%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote: None
(ii) Shared power to vote or to direct the vote: None
(iii) Sole power to dispose or to direct the disposition of:
None
(iv) Shared power to dispose or to direct the disposition of:
500,450
The shares reported include 500,450 shares held in customer accounts over which
partners and/or employees of the Reporting Person have discretionary authority
to dispose of the shares.
Item 5. Ownership of Five Percent or Less of a Class.
Not applicable
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
The owners of the accounts in which the shares reported on this
Schedule are held have the right to receive or the power to direct the receipt
of dividends from, or the proceeds from the sale of, such securities.
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company.
Not applicable
Page 4 of 6 Pages
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Item 8. Identification and Classification of Members of the Group.
Not applicable
Item 9. Notice of Dissolution of Group.
Not applicable
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.
Page 5 of 6 Pages
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SIGNATURE
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After reasonable inquiry and to the best knowledge and belief of the
undersigned, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
January 10, 1999
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Date
/s/ Walter Weadock
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Signature
Walter Weadock, General Partner
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Name/Title
Page 6 of 6 Pages
