UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D/A-1
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO.1)
SUMMIT HOLDING SOUTHEAST, INC.
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(Name of issuer)
COMMON STOCK, $0.01 PAR VALUE
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866078 10 8
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(Cusip Number)
BRUCE BEKOWITZ
100 JERICHO QUADRANGLE
SUITE 212
JERICHO, NEW YORK 11753
(212)319-4100
-with copies to-
JOSEPH F. MAZZELA, ESQ.
LANE, ALTMAN & OWENS L.L.P.
101 FEDERAL STREET
BOSTON, MASSACHUSETTS 02110
(617)345-9800
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
JULY 24, 1998
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(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 [ ]. (A fee is
not required only if the reporting person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.) [X].
NOTE: Six copies of this statement, including all exhibits, should be filed with
the Commission. See rule 13-d(a) 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).
<PAGE>
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CUSIP No. 866078 10 8 SCHEDULE 13D/A-1 Page 2 of 5 Pages
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
JOEL M. GREEBLATT
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ]
(B) [X]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS*
AF,PF
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 38,969
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
38,969
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
38,969
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.67%
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14. TYPE OF REPORTING PERSON*
IN
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<PAGE>
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CUSIP No. 866078 10 8 SCHEDULE 13D/A-1 Page 3 of 5 Pages
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
GOTHAM CAPITAL III, L.P.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ]
(B) [X]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS*
AF
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 38,969
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
38,969
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
38,969
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.67%
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14. TYPE OF REPORTING PERSON*
PN
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<PAGE>
CUSIP NO. 866078-10-8 Page 4 of 5 Pages
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THIS AMENDMENT NO. 1 RELATES TO THAT CERTAIN SCHEDULE 13D FILED ON MAY
22, 1997. IT IS BEING FILED TO REPORT THE FACT THAT AS OF THE DATE
HEREOF, THE REPORTING PERSONS HAVE CEASED TO BE THE BENEFICIAL OWNER OF
MORE THAN 5% OF THE COMMON STOCK OF THE ISSUER.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
------------------------------------
(a) The beneficial ownership by each of the Reporting Persons of
Common Stock of the Issuer as of the date hereof is as follows:
<TABLE>
<CAPTION>
NO. OF SHARES DEEMED NATURE OF OWNERSHIP PERCENTAGE OF CLASS
TO BE BENEFICIALLY OWNED: ------------------- -------------------
-------------------------
<S> <C> <C>
38,969 The record ownership and 0.67%
economic interest in such shares
is held by Gotham III. Joel
Greenblatt is the sole general
partner of Gotham III and,
therefore, may be deemed to
have indirect beneficial
ownership of, and shared voting
and dispositive power with
respect to, such shares.
</TABLE>
The number of shares beneficially owned and the percentage of
outstanding shares represented thereby, for each of the Reporting
Persons, have been computed in accordance with Rule 13d-3 under the
Securities Exchange Act of 1934, as amended. The percentages of ownership
described above are based on information in the Issuer's Form 10-K filed
March 30, 1998, indicating that there are 5,791,100 shares of Common
Stock of the Issuer outstanding.
(b) Transactions in the securities of the Issuer reported on
herein which have been effected in the past sixty days by the Reporting
Persons are as follows (all such transactions were open market sales):
<TABLE>
<CAPTION>
DATE NO. OF SHARES PRICE PER SHARE ($) TOTAL
---- ------------- ------------------- -----
<S> <C> <C> <C>
7/23/98 (33,900) 32.0000 $ 1,084,800.00
7/23/98 (80,000) 31.9375 $ 2,555,000.00
7/24/98 (10,000) 31.9687 $ 319,687.00
7/24/98 (30,000) 31.8854 $ 956,562.00
7/24/98 (314,000) 31.8750 $10,008,750.00
7/27/98 (39,214) 31.8750 $ 1,249,946.20
(c) Not Applicable.
(d) Not Applicable.
</TABLE>
<PAGE>
CUSIP NO. 866078-10-8 Page 5 of 5 Pages
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ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS AND RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER
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Not Applicable.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
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Exhibit A. Agreement of Joint Filing (incorporated by reference
to Schedule 13D filed May 22, 1997).
After reasonable inquiry and to the best of our knowledge and belief, we
each certify that the information set forth in this statement is true,
complete and correct. This statement may be executed in multiple
counterparts, each of which shall be deemed an original and all of which
shall constitute one (1) instrument.
/s/ Joel M. Greenblatt
------------------------------------
Joel M. Greenblatt
GOTHAM CAPITAL III, L.P.
By: /s/ Joel M. Greenblatt
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Joel M. Greenblatt, Manager
Date: July 29, 1998
