<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------------------
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)
NetVantage, Inc.
------------------------------------------------
(Name of Issuer)
Class A Common Stock, par value $.001 per share
--------------------------------------------------
(Title of Class of Securities)
64120U104
-------------------
(CUSIP Number)
Andrew S. Paul, Esq.
c/o Tudor Investment Corporation
One Liberty Plaza (51st Floor)
New York, New York 10006
(212) 602-6700
----------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
November 4, 1996
------------------------------------------------------------
(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(b)(3) or (4), check the following box [_].
Check the following box if a fee is being paid with the statement [_].
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- ---------------------
CUSIP NO. 64120U104
- ---------------------
- ------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Tudor Investment Corporation
TIN: 22-2514825
- ------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [_]
(b) [X]
- ------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- ------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[_]
- ------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 167,100
EACH -----------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH -----------------------------------
10 SHARED DISPOSITIVE POWER
167,100
- ------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
167,100
- ------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[_]
- ------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.5%
- ------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- ------------------------------------------------------------
2
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- ---------------------
CUSIP NO. 64120U104
- ---------------------
- ------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Paul Tudor Jones, II
TIN:
- ------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [_]
(b) [X]
- ------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- ------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[_]
- ------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
- ------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 179,500
EACH -----------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH -----------------------------------
10 SHARED DISPOSITIVE POWER
179,500
- ------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
179,500
- ------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[_]
- ------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.8%
- ------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- ------------------------------------------------------------
3
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- ---------------------
CUSIP NO. 64120U104
- ---------------------
- ------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Raptor Global Fund Ltd.
TIN: n/a
- ------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [_]
(b) [X]
- ------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- ------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[_]
- ----------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
- ----------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 60,100
EACH -----------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH -----------------------------------
10 SHARED DISPOSITIVE POWER
60,100
- ----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
60,100
- ------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[_]
- ------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.3%
- ------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- ------------------------------------------------------------
4
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- ---------------------
CUSIP NO. 64120U104
- ---------------------
- ------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Raptor Global Fund L.P.
TIN: 13-3735415
- ------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [_]
(b) [X]
- ------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- ------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[_]
- ------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 27,100
EACH -----------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH -----------------------------------
10 SHARED DISPOSITIVE POWER
27,100
- ------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
27,100
- ------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[_]
- ------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6%
- ------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- ------------------------------------------------------------
5
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- ---------------------
CUSIP NO. 64120U104
- ---------------------
- ------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Tudor Arbitrage Partners L.P.
TIN: 13-3496979
- ------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [_]
(b) [X]
- ------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- ------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[_]
- ----------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ----------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 12,400
EACH -----------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH -----------------------------------
10 SHARED DISPOSITIVE POWER
12,400
- ------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
12,400
- ------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[_]
- ------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.3%
- ------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- ------------------------------------------------------------
6
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- ---------------------
CUSIP NO. 64120U104
- ---------------------
- ------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Tudor Global Trading LLC
TIN: 13-3862744
- ------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [_]
(b) [X]
- ------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- ------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[_]
- ----------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ----------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 12,400
EACH -----------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH -----------------------------------
10 SHARED DISPOSITIVE POWER
12,400
- ------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
12,400
- ------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[_]
- ------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.3%
- ------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- ------------------------------------------------------------
7
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- ---------------------
CUSIP NO. 64120U104
- ---------------------
- ------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Tudor BVI Futures, Ltd.
TIN: n/a
- ------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [_]
(b) [X]
- ------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- ------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[_]
- ------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
- ------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 67,600
EACH -----------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH -----------------------------------
10 SHARED DISPOSITIVE POWER
67,600
- ------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
67,600
- ------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[_]
- ------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.4%
- ------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
8
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- ------------------------------------------------------------
CUSIP NO. 64120U104
- ---------------------
- ------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Upper Mill Capital Appreciation Fund Ltd.
TIN: n/a
- ------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [_]
(b) [X]
- ------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- ------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[_]
- ------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
- ------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 12,300
EACH -----------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH -----------------------------------
10 SHARED DISPOSITIVE POWER
12,300
- ------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
12,300
- ------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[_]
- ------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.3%
- ------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- ------------------------------------------------------------
9
<PAGE>
This Amendment No. 1, dated November 8, 1996, amends the Schedule 13D
filed by Tudor Investment Corporation, a Delaware corporation ("TIC"), Paul
Tudor Jones, II, a natural person and a citizen of the United States ("Mr.
Jones"), Tudor Global Trading LLC, a Delaware limited liability company ("TGT"),
The Raptor Global Fund Ltd., a company organized under the laws of the Cayman
Islands ("Raptor Ltd."), The Raptor Global Fund L.P., a Delaware limited
partnership ("Raptor L.P."), Tudor Arbitrage Partners L.P., a Delaware limited
partnership ("TAP"), Tudor BVI Futures, Ltd., a company organized under the laws
of the British Virgin Islands ("Tudor BVI"), and The Upper Mill Capital
Appreciation Fund Ltd., a company organized under the laws of the Cayman Islands
("Upper Mill", and collectively with TIC, Mr. Jones, TGT, Raptor Ltd., Raptor
L.P., TAP, and Tudor BVI, the "Reporting Persons") and relates to the Class A
Common Stock, par value $.001 per share (the "Common Stock"), of NetVantage,
Inc., a Delaware corporation (the "Company")* The summaries of information on
schedules attached hereto are qualified in their entirety by reference to such
schedules, which are incorporated by reference herein.
Item 5. Interest in Securities of the Issuer.
------------------------------------
No change except the following:
Attached hereto as Schedule I is a list of the transactions by each of
the Reporting Persons in Common Stock since October 11, 1996.
Because TIC is the sole general partner of Raptor L.P. and provides
investment advisory services to Raptor Ltd., Raptor L.P., Tudor BVI, and Upper
Mill, TIC may be deemed to beneficially own the shares of Common Stock owned by
each of such Reporting Persons. TGT, as the sole general partner of TAP, may be
deemed to beneficially own the shares of Common Stock owned by TAP. In
addition, because Mr. Jones owns a majority of the capital stock and voting
securities of TIC, and indirectly owns a majority of the equity interests of
TGT, Mr. Jones may be deemed to beneficially own the shares of Common Stock
deemed beneficially owned by TIC and TGT.
- ----------------------
* For purposes of this Statement on Schedule 13D the Reporting Persons have
filed as a "group". Nevertheless, the Reporting Persons hereby disclaim that
they are members of a "group" for purposes of Section 13(d) of the Securities
Exchange Act of 1934 or for any other purpose.
10
<PAGE>
Based on information provided by the Company that there were 4,735,785
shares of Common Stock issued and outstanding as of November 7, 1996, each
Reporting Person beneficially owns (or, with respect to TIC, Mr. Jones, and TGT,
may be deemed to beneficially own) the number and percentage of outstanding
shares of Common Stock listed in the responses to Items 11 and 13, respectively,
of the cover page filed herewith for such Reporting Person. In addition, the
number of shares of Common Stock beneficially owned (or, with respect to TIC,
Mr. Jones, and TGT, which may be deemed beneficially owned) by each Reporting
Person with respect to which such Reporting Person (i) has sole voting power,
(ii) shares voting power, (iii) has sole dispositive power and (iv) shares
dispositive power are listed in the responses to Items 7, 8, 9, and 10,
respectively, of the cover page filed herewith for such Reporting Person. The
voting and dispositive power is reported as shared because each of the Reporting
Persons (other than TIC, Mr. Jones, and TGT) has the power to remove TIC or TGT
as its investment advisor or general partner, as the case may be. Each of Raptor
Ltd., Raptor L.P., TAP, Tudor BVI, and Upper Mill expressly disclaims beneficial
ownership of the shares of Common Stock beneficially owned by any other
Reporting Person and each of TIC, Mr. Jones, and TGT disclaims beneficial
ownership of the Common Stock beneficially owned by Raptor Ltd., Raptor L.P.,
TAP, Tudor BVI, and Upper Mill.
Following the sales reported on Schedule I, none of the Reporting
Persons remained the beneficial owner, pursuant to Rule 13(d)(l)(i), of more
than 5% of the Common Stock of the Company.
11
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this Schedule 13D is true, complete,
and correct.
Dated: November 8, 1996
TUDOR INVESTMENT CORPORATION
By: /s/ Andrew S. Paul
-------------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
/s/ Paul Tudor Jones, II
-----------------------------
Paul Tudor Jones, II
THE RAPTOR GLOBAL FUND LTD.
By: TUDOR INVESTMENT CORPORATION,
Trading Advisor
By: /s/ Andrew S. Paul
-------------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
THE RAPTOR GLOBAL FUND L.P.
By: TUDOR INVESTMENT CORPORATION,
General Partner
By: /s/ Andrew S. Paul
-------------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
12
<PAGE>
TUDOR ARBITRAGE PARTNERS L.P.
By: TUDOR GLOBAL TRADING LLC,
General Partner
By: /s/ Andrew S. Paul
-------------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
By: TUDOR GLOBAL TRADING LLC
By: /s/ Andrew S. Paul
-------------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
TUDOR BVI FUTURES, LTD.
By: TUDOR INVESTMENT CORPORATION,
Trading Advisor
By: /s/ Andrew S. Paul
-------------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
THE UPPER MILL CAPITAL APPRECIATION
FUND LTD.
By: TUDOR INVESTMENT CORPORATION,
Sub-Trading Advisor
By: /s/ Andrew S. Paul
-------------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
13
<PAGE>
Schedule I
TRANSACTIONS
All shares of Common Stock were purchased or sold in open market
transactions for cash.
Tudor BVI
Date Transaction # Shares $/Share
- ---- ----------- -------- -------
11/4/96 Sale 3,000 15.2243
11/4/96 Sale 15,300 14.9375
11/5/96 Sale 3,500 14.875
Total Common Stock beneficially owned as of
The date this Schedule 13D: 67,600
Raptor L.P.
- -----------
Date Transaction # Shares $/Share
- ---- ------------ -------- -------
11/4/96 Sale 1,200 15.2243
11/4/96 Sale 6,000 14.9375
11/5/96 Sale 1,600 14.875
Total Common Stock beneficially owned as of
the date of this Schedule 13D: 27,100
TAP
- ---
Date Transaction # Shares $/Share
- ---- ----------- -------- -------
11/4/96 Sale 900 15.2243
11/4/96 Sale 3,300 14.9375
11/5/96 Sale 800 14.875
Total Common Stock beneficially owned as of
the date of this Schedule 13D: 12,400
Raptor Ltd.
- -------------
Date Transaction # Shares $/Share
- ---- ----------- -------- -------
11/4/96 Sale 2,800 15.2243
11/4/96 Sale 14,000 14.9375
11/5/96 Sale 3,300 14.875
Total Common Stock beneficially owned as of
the date of this Schedule 13D: 60,100
14
<PAGE>
Upper Mill
- -------------
Date Transaction # Shares $/Share
- ---- ----------- -------- -------
11/4/96 Sale 600 15.2243
11/4/96 Sale 3,400 14.9375
11/5/96 Sale 800 14.875
Total Common Stock beneficially owned as of
the date of this Schedule 13D: 12,300
15
