SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
Benchmark Plus Management, LLC

(Last) (First) (Middle)
820 A STREET
SUITE 700

(Street)
TACOMA WA 98402

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
MBIA CAPITAL/CLAYMORE MAN DUR INV GRD MUNI FUND [ MZF ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
08/12/2009
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, par value $0.001 (1) 08/12/2009 P 1,000 A $12.06 204,601 I (2) By Benchmark Plus Institutional Partners
Common Stock, par value $0.001 (1) 08/13/2009 P 500 A $12.0304 205,101 I (2) By Benchmark Plus Institutional Partners
Common Stock, par value $0.001 (1) 48,846 I (3) By Benchmark Plus Partners
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
1. Name and Address of Reporting Person*
Benchmark Plus Management, LLC

(Last) (First) (Middle)
820 A STREET
SUITE 700

(Street)
TACOMA WA 98402

(City) (State) (Zip)
1. Name and Address of Reporting Person*
Benchmark Plus Institutional Partners, L.L.C.

(Last) (First) (Middle)
820 A STREET
SUITE 700

(Street)
TACOMA WA 98402

(City) (State) (Zip)
1. Name and Address of Reporting Person*
Benchmark Plus Partners, L.L.C.

(Last) (First) (Middle)
820 A STREET
SUITE 700

(Street)
TACOMA WA 98402

(City) (State) (Zip)
1. Name and Address of Reporting Person*
Ferguson Robert

(Last) (First) (Middle)
820 A STREET
SUITE 700

(Street)
TACOMA WA 98402

(City) (State) (Zip)
1. Name and Address of Reporting Person*
Franzblau Scott

(Last) (First) (Middle)
820 A STREET
SUITE 700

(Street)
TACOMA WA 98402

(City) (State) (Zip)
Explanation of Responses:
1. Each of the Reporting Persons is a member of a Section 13(d) group with respect to the securities of the Issuer that beneficially owns in excess of 10% of the Issuer's outstanding Shares. As members of the group, each of the Reporting Persons may be deemed to beneficially own the securities of the Issuer beneficially owned by the other members of the group. The Reporting Persons disclaim beneficial ownership of the securities of the Issuer beneficially owned by the other members of the group except to the extent of his or its pecuniary interest therein.
2. Shares owned directly by Benchmark Plus Institutional Partners, L.L.C. ("BPIP"). As the managing member of BPIP, Benchmark Plus Management, L.L.C. ("BPM") may be deemed to beneficially own the Shares owned by BPIP. As the managing members of BPM, Scott Franzblau and Robert Ferguson may each be deemed to beneficially own the Shares owned by BPIP. Each of Messrs. Franzblau and Ferguson and BPM disclaims beneficial ownership of such Shares except to the extent of his or its pecuniary interest therein.
3. Shares owned directly by Benchmark Plus Partners, L.L.C. ("BPP"). As the managing member of BPP, BPM may be deemed to beneficially own the Shares owned by BPP. As the managing members of BPM, Scott Franzblau and Robert Ferguson may each be deemed to beneficially own the Shares owned by BPP. Each of Messrs. Franzblau and Ferguson and BPM disclaims beneficial ownership of such Shares except to the extent of his or its pecuniary interest therein.
By: Benchmark Plus Management, L.L.C., By: /s/ Robert Ferguson, Managing Member 08/14/2009
By: Benchmark Plus Institutional Partners, L.L.C., By: Benchmark Plus Management, L.L.C., Managing Member, By: /s/ Robert Ferguson, Managing Member 08/14/2009
By: Benchmark Plus Partners, L.L.C., By: Benchmark Plus Management, L.L.C., Managing Member, By: /s/ Robert Ferguson, Managing Member 08/14/2009
/s/ Ferguson, Robert 08/14/2009
/s/ Franzblau, Scott 08/14/2009
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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