SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
INFORMATION TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS
THERETO FILED PURSUANT TO RULE 13d-2(a)
Under the Securities Exchange Act of 1934
(Amendment No.2)
WILSHIRE REAL ESTATE INVESTMENT INC.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
9718921045
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(CUSIP Number)
Jeffrey S. Lambert
Strome Investment Management, L.P.
100 Wilshire Blvd., 15th Floor,
Santa Monica, CA 90401
(310) 917-6600
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
April 13, 2000
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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-l(e), Rule 13d-l(f) or Rule 13d-l(g), check the
following box [ ]
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7(b) 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 on 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>
SCHEDULE 13D
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CUSIP NO. 971821045 PAGE 2 OF 14 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Strome Investment Management, L.P., #95-4450882
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)(a)|X| (b)|_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
WC
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5 CHECK 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
DE
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7 SOLE VOTING POWER
0
NUMBER OF
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
EACH
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)|_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0%
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14 TYPE OF REPORTING PERSON (See Instructions)
PN, IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
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CUSIP NO. 971821045 PAGE 3 OF 14 PAGES
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1 NAMES OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
SSCO, Inc., 95-4450883
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2 CHECK THE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK THE 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
Delaware
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7 SOLE VOTING POWER
0
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES 0
BENEFICIALLY
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON WITH
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11
0
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12 CHECK THE 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)
0.0%
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14 TYPE OF REPORTING PERSON*
CO, HC
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*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
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CUSIP NO. 971821045 PAGE 4 OF 14 PAGES
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1 NAMES OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Mark E. Strome
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2 CHECK THE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK THE 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
United States
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7 SOLE VOTING POWER
0
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES 0
BENEFICIALLY
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON WITH
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11
0
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12 CHECK THE 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)
0.0%
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14 TYPE OF REPORTING PERSON*
IN, HC
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*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
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CUSIP NO. 971821045 PAGE 5 OF 14 PAGES
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1 NAMES OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Strome Partners, L.P., #95-4372590
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2 CHECK THE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK THE 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
Delaware
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7 SOLE VOTING POWER
0
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES 0
BENEFICIALLY
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON WITH
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11
0
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12 CHECK THE 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)
0.0%
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14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
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CUSIP NO. 971821045 PAGE 6 OF 14 PAGES
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1 NAMES OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Strome Offshore Limited
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2 CHECK THE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK THE 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
Cayman Islands
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7 SOLE VOTING POWER
0
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES 0
BENEFICIALLY
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON WITH
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11
0
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12 CHECK THE 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)
0.0%
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14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
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CUSIP NO. 971821045 PAGE 7 OF 14 PAGES
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1 NAMES OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Strome Hedgecap Fund, L.P., #95-4385662
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2 CHECK THE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK THE 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
Delaware
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7 SOLE VOTING POWER
0
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES 0
BENEFICIALLY
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON WITH
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
168,640
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11
0
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12 CHECK THE 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)
0.0%
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14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
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CUSIP NO. 971821045 PAGE 8 OF 14 PAGES
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1 NAMES OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Strome Hedgecap Limited
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2 CHECK THE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK THE 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
Cayman Islands
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7 SOLE VOTING POWER
0
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES 0
BENEFICIALLY
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON WITH
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11
0
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12 CHECK THE 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)
0.0%
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14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
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CUSIP NO. 971821045 PAGE 9 OF 14 PAGES
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INTRODUCTION
This Amendment No. 2 relates to the Schedule 13D filed on December 10,
1999, and amended on January 28, 2000, by (i) Strome Partners, L.P. ("SP") with
respect to shares of Stock held or beneficially owned by the partnership; (ii)
Strome Offshore Limited ("SOFF") with respect to shares of Stock held or
beneficially owned by the corporation; (iii) Strome Hedgecap Fund, L.P. ("SHCF")
with respect to shares of Stock held or beneficially owned by the partnership;
(iv) Strome Hedgecap Limited ("SHCL") with respect to shares of Stock held or
beneficially owned by the corporation; (v) Strome Investment Management, L.P.
("SIM"), a registered investment adviser, as general partner and discretionary
investment adviser of SP and SHCF, and as discretionary investment adviser of
SOFF and SHCL; (vi) SSCO, Inc. ("SSCO") as sole general partner of SIM; and
(vii) Mark E. Strome ("Strome"), a settlor and trustee of The Mark E. Strome
Living Trust, dated 1/16/97, as the controlling shareholder of SSCO. SP, SOFF,
SHCF and SHCL may each be referred to individually as a "Fund" and collectively
as the "Funds" and the Funds together with SIM, SSCO and Strome are collectively
referred to hereinafter as the "Reporting Persons."
Items 3, 4, 5 and 7 of the Schedule 13D are amended and supplemented as
follows:
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The net investment cost (including commissions, if any) of the shares of
Stock beneficially owned by SP is $0.00. The source of funds for this
consideration was working capital.
The net investment cost (including commissions, if any) of the shares of
Stock beneficially owned by SOFF is $0.00. The source of funds for this
consideration was working capital.
The net investment cost (including commissions, if any) of the shares of
Stock beneficially owned by SHCF is $0.00. The source of funds for this
consideration was working capital.
The net investment cost (including commissions, if any) of the shares of
Stock beneficially owned by SHCL is $0.00. The source of funds for this
consideration was working capital.
ITEM 4. PURPOSE OF TRANSACTION.
The Reporting Persons have disposed of all of their shares of
Issuer's Stock.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) As of the date hereof, each member of the Group has the following
interest in the securities of the Issuer:
(i) SP beneficially owns no shares of Stock and is the
beneficial owner of 0.0% of the Stock.
<PAGE>
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CUSIP NO. 971821045 PAGE 10 OF 14 PAGES
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(ii) SOFF beneficially owns no shares of Stock and is the beneficial
owner of 0.0% of the Stock.
(iii)SHCF beneficially owns no shares of Stock and is the
beneficial owner of 0.0% of the Stock.
(iv) SHCL beneficially owns no shares of Stock and is the beneficial
owner of 0.0% of the Stock.
(v) SIM, (y) as general partner of and discretionary investment
adviser to SP and SHCF and (z) discretionary investment adviser
to SOFF and SHCL, beneficially owns no shares of Stock and is
the beneficial owner of 0.0% of the Stock.
(vi) SSCO, as the general partner of SIM, beneficially owns no
shares of the Stock and is the beneficial owner of 0.0% of the
Stock.
(vii)Strome, as a settlor and trustee of The Mark S. Strome Living
Trust dated 1/16/97, which trust is the controlling shareholder
of SSCO, beneficially owns no shares of the Stock, and is the
beneficial owner of 0.0% of the Stock.
The Reporting Persons in the aggregate may be deemed to own an
aggregate of 0.0% of the Stock.
(b) SIM, a registered investment adviser, SSCO, its general partner and
Strome, a trustee of SSCO's controlling shareholder, have the right
or the power to direct the receipt of dividends from the Stock, to
direct the receipt of proceeds from the sale of Stock to SIMs
investment
NO. OF
SHARES SOLE SHARED SHARED SHARED
BENEFICIALLY PERCENTAGE POWER POWER TO POWER TO POWER TO
OWNED OF CLASS TO VOTE VOTE DISPOSE DISPOSE
SP 0 0.0% 0 0 0 0
SOFF 0 0.0% 0 0 0 0
SHCF 0 0.0% 0 0 0 0
SHCL 0 0.0% 0 0 0 0
SIM 0 0.0% 0 0 0 0
SSCO 0 0.0% 0 0 0 0
Strome 0 0.0% 0 0 0 0
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<PAGE>
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CUSIP NO. 971821045 PAGE 11 OF 14 PAGES
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(c) The trading dates, number of shares purchased or sold and price paid
per share for all transactions by the Reporting Persons since
February 12, 2000 are set forth below. All such transactions were
open market transactions and were effected on the NASDAQ National
Market. No other transactions were effected by the Reporting Persons
during such period.
PARTY TRADE DATE BOUGHT (SOLD) NET AMOUNT PER SHARE
SP 02/25/00 (800) $ 1,767.94 $2.20993
SP 02/29/00 (50,000) $ 107,996.33 $2.15993
SP 03/28/00 (5,000) $ 11,049.62 $2.20992
SP 03/29/00 (35,000) $ 77,347.37 $2.20992
SP 03/30/00 (20,500) $ 44,022.25 $2.14743
SP 03/31/00 (12,000) $ 26,519.10 $2.20993
SP 04/03/00 (33,420) $ 77,927.88 $2.33177
SOFF 02/25/00 (3,200) $ 7,071.76 $2.20993
SOFF 04/03/00 33,420 $ 77,300.46 $2.31300
SOFF 04/03/00 6,410 $ 15,473.71 $2.413995
SOFF 04/04/00 4,000 $ 9,847.48 $2.46187
SOFF 04/13/00 (657,510) $1,643,720.20 $2.49992
SHCF 02/25/00 (850) $ 1,878.43 $2.20992
SHCF 04/03/00 1,090 $ 2,631.27 $2.414009
SHCF 04/04/00 850 $ 2,090.59 $2.459518
SHCF 04/13/00 (165,480) $ 413,686.21 $2.49992
SHCL 02/25/00 (150) $ 331.48 $2.20987
SHCL 04/04/00 150 $ 369.28 $2.461867
SHCL 04/13/00 (29,010) $ 72,522.58 $2.49992
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(e) The Reporting Persons ceased to be the beneficial owners of more
than 5% of the Stock on April 13, 2000.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
EXHIBIT G Power of Attorney Forms for Schedules 13D and 13G and
Form 13F
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CUSIP NO. 971821045 PAGE 12 OF 14 PAGES
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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 statement is true, complete and correct.
Dated: April 26, 2000.
STROME PARTNERS, L.P.
By: Strome Investment Management,
L.P., general partner by its
general partner, SSCO, Inc.
By: /s/ Jeffrey S. Lambert
-------------------------------
Jeffrey S. Lambert
Chief Operating Officer
STROME OFFSHORE LIMITED
By: /s/ Jeffrey S. Lambert
-------------------------------
Jeffrey S. Lambert
Director
STROME HEDGECAP FUND, L.P.
By: Strome Investment Management,
L.P., general partner by its
general partner, SSCO, Inc.
By: /s/ Jeffrey S. Lambert
-------------------------------
Jeffrey S. Lambert
Chief Operating Officer
<PAGE>
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CUSIP NO. 971821045 PAGE 13 OF 14 PAGES
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STROME HEDGECAP LIMITED
By: /s/ Jeffrey S. Lambert
-------------------------------
Jeffrey S. Lambert
Director
STROME INVESTMENT MANAGEMENT, L.P.
By: SSCO, Inc., general partner
By: /s/ Jeffrey S. Lambert
-------------------------------
Jeffrey S. Lambert
Chief Operating Officer
SSCO, INC.
By: /s/ Jeffrey S. Lambert
-------------------------------
Jeffrey S. Lambert
Chief Operating Officer
MARK E. STROME
By: /s/ Jeffrey S. Lambert
-------------------------------
Mark E. Strome
<PAGE>
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CUSIP NO. 971821045 PAGE 14 OF 14 PAGES
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EXHIBIT G
POWER OF ATTORNEY FORM FOR
SCHEDULES 13D AND 13G AND FORM 13F
I, Mark E. Strome in my individual capacity and as a principal of Strome
Investment Management, L.P., hereby appoint Jeffrey S. Lambert as
attorney-in-fact and agent, in all capacities, to execute, on my behalf and on
behalf of Strome Investment Management, L.P. and to file with the appropriate
issuers, exchanges and regulatory authorities, any and all Schedules 13D and 13G
and Forms 13F and documents relating thereto required to be filed under the
Securities Exchange Act of 1934, as amended, including exhibits, attachments and
amendments thereto and request for confidential information contained therein. I
hereby grant to said attorney-in-fact full authority to do every act necessary
to be done in order to effectuate the same fully, to all intents and purposes,
as I could if personally present, thereby ratifying all that said
attorneys-in-fact and agents may lawfully do or cause to be done by virtue
hereof.
I hereby execute this power of attorney on this 25th day of May 1999.
/s/ Mark Strome
- --------------------
Mark E. Strome
