UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 6)*
WADDELL & REED FINANCIAL, INC.
------------------------------
(Name of Issuer)
Class A Common Stock, Par Value $0.01
Class B Common Stock, Par Value $0.01
-------------------------------------
(Title of Class of Securities)
930059100
930059209
---------
(CUSIP Number)
Murray A. Indick
Richard C. Blum & Associates, L.P.
909 Montgomery Street, Suite 400
San Francisco, CA 94133
(415) 434-1111
--------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
April 8, 1999
-------------
(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 [ ].
*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 1 of 11
CUSIP NO. 930059100, 930059209 SCHEDULE 13D Page 2 of 11
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RCBA STRATEGIC PARTNERS, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-3303833
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* WC
- ------------------------------------------------------------------------------
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 -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER Class A Common Stock 4,780,600**
BENEFICIALLY Class B Common Stock 2,276,700**
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
Class A Common Stock 4,780,600**
Class B Common Stock 2,276,700**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Class A Common Stock 4,780,600**
Class B Common Stock 2,276,700**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Class A Common Stock 15.6%**
Class B Common Stock 7.4%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 930059100, 930059209 SCHEDULE 13D Page 3 of 11
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM & ASSOCIATES, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-3205364
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3 below
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER Class A Common Stock 4,780,600**
BENEFICIALLY Class B Common Stock 2,276,700**
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
Class A Common Stock 4,780,600**
Class B Common Stock 2,276,700**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Class A Common Stock 4,780,600**
Class B Common Stock 2,276,700**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Class A Common Stock 15.6%**
Class B Common Stock 7.4%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN, IA
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 930059100, 930059209 SCHEDULE 13D Page 4 of 11
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM & ASSOCIATES, INC.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-2967812
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3 below
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER Class A Common Stock 4,780,600**
BENEFICIALLY Class B Common Stock 2,276,700**
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
Class A Common Stock 4,780,600**
Class B Common Stock 2,276,700**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Class A Common Stock 4,780,600**
Class B Common Stock 2,276,700**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Class A Common Stock 15.6%**
Class B Common Stock 7.4%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 930059100, 930059209 SCHEDULE 13D Page 5 of 11
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RCBA GP, L.L.C.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-3303831
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3 below
- ------------------------------------------------------------------------------
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 -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER Class A Common Stock 4,780,600**
BENEFICIALLY Class B Common Stock 2,276,700**
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
Class A Common Stock 4,780,600**
Class B Common Stock 2,276,700**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Class A Common Stock 4,780,600**
Class B Common Stock 2,276,700**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Class A Common Stock 15.6%**
Class B Common Stock 7.4%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON OO (Limited Liability Company)
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 930059100, 930059209 SCHEDULE 13D Page 6 of 11
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3 below
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION U.S.A.
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER Class A Common Stock 4,780,600**
BENEFICIALLY Class B Common Stock 2,276,700**
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
Class A Common Stock 4,780,600**
Class B Common Stock 2,276,700**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Class A Common Stock 4,780,600**
Class B Common Stock 2,276,700**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Class A Common Stock 15.6%**
Class B Common Stock 7.4%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON IN
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 930059100, 930059209 SCHEDULE 13D Page 7 of 11
This Amendment No. 6 amends the Statement on Schedule 13D (the "Schedule 13D")
filed with the Securities and Exchange Commission (the "Commission") on March
12, 1999 by Richard C. Blum & Associates, L.P., a California limited
partnership ("RCBA L.P."); Richard C. Blum & Associates, Inc., a California
corporation ("RCBA Inc."); RCBA GP, L.L.C., a Delaware limited liability
company ("RCBA GP"); and Richard C. Blum, the Chairman and a substantial
shareholder of RCBA Inc. and a managing member of RCBA GP (collectively, and
together with RCBA Strategic Partners, L.P., the "Reporting Persons"). This
Amendment No. 6 relates to the shares of Class A Common Stock, par value
$0.01, and Class B Common Stock, par value $0.01, (collectively, the "Common
Stock"). The principal executive office and mailing address of the Issuer is
6300 Lamar Avenue, Overland Park, Kansas 66202. The following amendments to
Items 2 and 5 of the Schedule 13D are hereby made. Unless otherwise defined
herein, all capitalized terms shall have the meanings ascribed to them in the
Schedule 13D.
Item 2. Identity and Background
- --------------------------------
Item 2 of the Schedule 13D is hereby amended as follows:
A cover page has been added to the Schedule 13D to reflect an increase in
direct ownership of the Class A Common Stock by RCBA Strategic Partners, L.P.
("Strategic") to in excess of 5% of the outstanding Class A Common Stock
shares. Strategic is a Delaware limited partnership whose principal business
is investing in securities and whose general partner is RCBA GP. Strategic is
referred to in previously filed Schedule 13D's as the limited partnership for
which RCBA GP serves as the general partner. Strategic's principal office is
909 Montgomery Street, Suite 400, San Francisco, CA 94133.
Item 5. Interest in Securities of the Issuer
- ---------------------------------------------
Item 5 of the Schedule 13D is hereby amended as follows:
(a),(b) According to the Issuer's most Form 10-K dated December 31, 1998,
there were 30,694,445 shares of the Class A Common Stock issued and
outstanding and 30,797,556 shares of the Class B Common Stock issued and
outstanding, as of February 26, 1999. Based on such information, after taking
into account the transactions described in Item 5(c) below, the Reporting
Persons report direct holdings and the corresponding percentage interest of
total shares outstanding as follows: (i) RCBA L.P. and RCBA Inc. report
holdings of 2,438,100 shares of the Class A Common Stock (7.9%) and 722,000
shares of the Class B Common Stock (2.3%) on behalf of the limited
partnerships for which RCBA L.P. serves as the general partner and RCBA L.P.'s
investment advisory client accounts; (ii) Strategic reports holdings of
1,971,900 shares of the Class A Common Stock (6.4%) and 1,403,300 shares of
the Class B Common Stock (4.6%); and (iii) Mr. Blum reports the aggregate of
these shares for a total of 4,410,000 shares of the Class A Common Stock
(14.4%) and 2,125,300 shares of the Class B Common Stock (6.9%).
CUSIP NO. 930059100, 930059209 SCHEDULE 13D Page 8 of 11
In addition, because RCBA L.P. has voting and investment power with respect to
370,600 shares of the Class A Common Stock and 151,400 shares of the Class B
Common Stock that are legally owned by The Common Fund for the account of its
Equity Fund ("The Common Fund"), those shares are reported as beneficially
owned by RCBA L.P. The Common Fund is principally engaged in the business of
managing investments for educational institutions. The principal
administrative office of The Common Fund is located at 450 Post Road East,
Westport, Connecticut 06881-0909. The Common Fund disclaims membership in a
group with any of the Reporting Persons, and disclaims beneficial ownership of
any shares held by the Reporting Persons.
Voting and investment power concerning the above shares are held solely by
RCBA L.P. and RCBA GP. The Reporting Persons therefore may be deemed to be
members in a group, in which case each Reporting Person would be deemed to
have beneficial ownership of an aggregate of 4,780,600 shares of the Class A
Common Stock (15.6% of the Class A Common Stock shares outstanding) and
2,276,700 shares of the Class B Common Stock (7.4% of the Class B Common Stock
outstanding). As the sole general partner of RCBA L.P., RCBA Inc. is deemed
the beneficial owner of the securities over which RCBA L.P. has voting and
investment power. As Chairman and a substantial shareholder of RCBA Inc.,
Richard C. Blum might be deemed to be the beneficial owner of the securities
beneficially owned by RCBA Inc. Additionally, Mr. Blum may be deemed to be
the beneficial owner of the securities over which RCBA GP has voting and
investment power. Although Mr. Blum is joining in this Schedule as a
Reporting Person, the filing of this Schedule shall not be construed as an
admission that he, or any of the other shareholders, directors or executive
officers of RCBA Inc., or managing members and members of RCBA GP, is, for any
purpose, the beneficial owner of any of the securities that are beneficially
owned by RCBA Inc or RCBA GP, except to the extent of any pecuniary interest
therein.
(c) Since the Schedule 13D filing, the Reporting Persons purchased the
following shares of Common Stock in the open market:
Entity Trade Date Class Shares Price/Share
- ------ ---------- ----- ------ ------------
RCBA L.P.'s limited partnership 03-15-99 Class A 1,700 19.4911
and investment advisory client 03-19-99 Class A 300 19.8625
accounts (including 03-19-99 Class A 300 19.8750
The Common Fund) 03-19-99 Class B 300 19.8125
03-24-99 Class A 1,300 19.2500
03-29-99 Class A 2,900 19.3750
03-31-99 Class B 2,200 19.5000
04-01-99 Class A 1,600 20.3125
04-05-99 Class A 1,000 20.1875
04-06-99 Class A 1,000 20.0000
04-06-99 Class B 700 19.9917
04-08-99 Class A 1,000 20.2500
04-08-99 Class B 1,100 19.0000
04-09-99 Class B 800 20.1782
04-12-99 Class A 8,900 20.1250
(continued on next page) 04-14-99 Class A 3,200 20.0000
CUSIP NO. 930059100, 930059209 SCHEDULE 13D Page 9 of 11
Entity Trade Date Class Shares Price/Share
- ------ ---------- ----- ------ ------------
(continued from previous page) 04-14-99 Class B 800 20.1250
04-15-99 Class A 4,400 19.9375
04-16-99 Class A 1,600 20.1184
Strategic 03-15-99 Class A 40,300 19.4911
03-18-99 Class A 2,800 19.8125
03-18-99 Class B 100 19.6250
03-19-99 Class A 12,200 19.8625
03-19-99 Class A 12,200 19.8750
03-19-99 Class B 11,100 19.8125
03-23-99 Class A 5,100 19.1250
03-24-99 Class A 48,700 19.2500
03-29-99 Class A 77,100 19.3750
03-31-99 Class B 57,800 19.5000
04-01-99 Class A 43,400 20.3125
04-05-99 Class A 24,000 20.1875
04-06-99 Class A 24,000 20.0000
04-06-99 Class B 17,300 19.9917
04-07-99 Class A 1,000 20.1875
04-07-99 Class B 4,200 20.2306
04-08-99 Class A 13,500 20.2500
04-08-99 Class B 19,000 20.2021
04-09-99 Class A 2,500 19.9500
04-09-99 Class B 15,300 20.1782
04-12-99 Class A 115,600 20.1250
04-14-99 Class A 36,800 20.0000
04-14-99 Class B 9,200 20.1250
04-15-99 Class A 45,600 19.9375
04-15-99 Class A 5,100 20.2500
04-15-99 Class B 300 20.2500
04-16-99 Class A 17,400 20.1184
(d) and (e) Not applicable.
Item 7. Material to be Filed as Exhibits
- -----------------------------------------
Exhibit A Joint Filing Undertaking.
CUSIP NO. 930059100, 930059209 SCHEDULE 13D Page 10 of 11
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: April 16, 1999
RICHARD C. BLUM & ASSOCIATES, INC. RICHARD C. BLUM & ASSOCIATES, L.P.
By Richard C. Blum & Associates, Inc.
its general partner
By /s/ Murray A. Indick By /s/ Murray A. Indick
------------------------------- -----------------------------------
Murray A. Indick Murray A. Indick
Managing Director, General Managing Director, General Counsel,
Counsel, Chief Administrative Chief Administrative Officer and
Officer and Secretary Secretary
RCBA GP, L.L.C.
By /s/ Murray A. Indick
-------------------------------
Murray A. Indick, Member
RCBA STRATEGIC PARTNERS, L.P.
By RCBA GP, L.L.C., its general partner
By /s/ Murray A. Indick
-------------------------------
Murray A. Indick, Member
/s/ Murray A. Indick
- ------------------------------------
RICHARD C. BLUM
By Murray A. Indick, Attorney-in-Fact
CUSIP NO. 930059100, 930059209 SCHEDULE 13D Page 11 of 11
Exhibit A
JOINT FILING UNDERTAKING
The undersigned, being duly authorized thereunto, hereby execute this
agreement as an exhibit to this Schedule 13D to evidence the agreement of the
below-named parties, in accordance with the rules promulgated pursuant to the
Securities Exchange Act of 1934, to file this Schedule jointly on behalf of
each such party.
Dated: April 16, 1999
RICHARD C. BLUM & ASSOCIATES, INC. RICHARD C. BLUM & ASSOCIATES, L.P.
By Richard C. Blum & Associates, Inc.
its general partner
By /s/ Murray A. Indick By /s/ Murray A. Indick
------------------------------- -----------------------------------
Murray A. Indick Murray A. Indick
Managing Director, General Managing Director, General Counsel,
Counsel, Chief Administrative Chief Administrative Officer and
Officer and Secretary Secretary
RCBA GP, L.L.C.
By /s/ Murray A. Indick
-------------------------------
Murray A. Indick, Member
RCBA STRATEGIC PARTNERS, L.P.
By RCBA GP, L.L.C., its general partner
By /s/ Murray A. Indick
-------------------------------
Murray A. Indick, Member
/s/ Murray A. Indick
- ------------------------------------
RICHARD C. BLUM
By Murray A. Indick, Attorney-in-Fact
