-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, R1Ty5QUavKDGbJzytCoTJfw5oRx98JqGanmwS+EWJRM7YBmCCUbGzrQdo5YK94pm jcBj862Erwb6z3WTJM/pNg== 0001099343-10-000005.txt : 20100201 0001099343-10-000005.hdr.sgml : 20100201 20100201163608 ACCESSION NUMBER: 0001099343-10-000005 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20100201 DATE AS OF CHANGE: 20100201 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: DENALI FUND INC. CENTRAL INDEX KEY: 0001187520 IRS NUMBER: 550799916 STATE OF INCORPORATION: MD FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-80024 FILM NUMBER: 10563805 BUSINESS ADDRESS: STREET 1: 2344 SPRUCE STREET STREET 2: SUITE A CITY: BOULDER STATE: CO ZIP: 80302 BUSINESS PHONE: 303-444-5483 MAIL ADDRESS: STREET 1: 2344 SPRUCE STREET STREET 2: SUITE A CITY: BOULDER STATE: CO ZIP: 80302 FORMER COMPANY: FORMER CONFORMED NAME: NEUBERGER BERMAN REAL ESTATE INCOME FUND INC DATE OF NAME CHANGE: 20020909 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: LOLA BROWN TRUST 1B CENTRAL INDEX KEY: 0001247992 IRS NUMBER: 000000000 STATE OF INCORPORATION: AK FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 1029 WEST 3RD AVENUE, SUITE 400 CITY: ANCHORAGE STATE: AK ZIP: 99503 BUSINESS PHONE: 303-444-5483 MAIL ADDRESS: STREET 1: 1029 WEST 3RD AVENUE, SUITE 400 CITY: ANCHORAGE STATE: AK ZIP: 99503 SC 13D/A 1 sch13damend_20.txt SCHEDULE 13D AMENDMENT 20 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13D (Rule 13d-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a) (Amendment No. 20)* The Denali Fund Inc. (Name of Issuer) Common Stock (Title of Class of Securities) 24823A102 (CUSIP Number) Stephen C. Miller, Esq. 2344 Spruce Street, Suite A Boulder, Colorado 80302 (303) 444-5483 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) January 25, 2010 (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 that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(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 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). CUSIP No. 24823A102 - -------------------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). Lola Brown Trust No. 1B - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) WC OO - -------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) - -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Alaska - -------------------------------------------------------------------------------- Number of 7. Sole Voting Power 3,145,944 Shares Bene- -------------------------------------------------------------- ficially Owned 8. Shared Voting Power by Each -------------------------------------------------------------- Reporting 9. Sole Dispositive Power 3,145,944 Person With -------------------------------------------------------------- 10. Shared Dispositive Power - -------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 3,145,944 - -------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) - -------------------------------------------------------------------------------- 13. Percent of Class Reported by Amount in Row (11) 75.68% - -------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) OO - -------------------------------------------------------------------------------- CUSIP No. 24823A102 - -------------------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). Stewart R. Horejsi - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) Not applicable - -------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) - -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization United States - -------------------------------------------------------------------------------- Number of 7. Sole Voting Power 0 Shares Bene- -------------------------------------------------------------- ficially Owned 8. Shared Voting Power 0 by Each -------------------------------------------------------------- Reporting 9. Sole Dispositive Power 0 Person With -------------------------------------------------------------- 10. Shared Dispositive Power 0 - -------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 0 - -------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) - -------------------------------------------------------------------------------- 13. Percent of Class Reported by Amount in Row (11) 0% - -------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) IN - -------------------------------------------------------------------------------- Amendment No. 20 to Statement on Schedule 13D This statement on Schedule 13D relates to the Common Stock, $0.0001 par value per share of The Denali Fund Inc. (formerly Neuberger Berman Real Estate Income Fund, Inc.), a Maryland corporation (the "Company"). Items 3, 4 and 5 of this statement, previously filed by the Lola Brown Trust No. 1B (the "Lola Trust") and the Ernest Horejsi Trust No. 1B (the "Ernest Trust"), as the direct beneficial owner of the Shares, and Stewart R. Horejsi, by virtue of the relationships described previously in this statement, are hereby amended as set forth below. Item 3. Source and Amount of Funds or Other Consideration. No change except for addition of the following: The total amount of funds required by the Lola Trust to purchase the Shares as reported in Item 5(c) was $665,220.20. Such funds were provided by the Lola Trust's cash on hand, inter-trust advances and margin borrowings under an account maintained by Merrill Lynch, Pierce, Fenner & Smith Incorporated. Item 4. Purpose of Transaction No change except for addition of the following: The Lola Trust purchased the Shares reported in Item 5(c) in order to increase its equity ownership of the Company. Depending upon their evaluation of the Company's investments and prospects, and upon future developments (including, but not limited to, performance of the Shares in the market, effective yield on the Shares, availability of funds, alternative uses of funds, and money, stock market and general economic conditions), any of the Reporting Persons or other entities that may act with the Reporting Persons (collectively referred to as the "Other Entities") may from time to time purchase Shares, and any of the Reporting Persons or Other Entities may from time to time dispose of all or a portion of the Shares held by such person, or cease buying or selling Shares. Any such additional purchase or sale of the Shares may be in open market, in privately-negotiated transactions or otherwise. Item 5. Interest in Securities of the Issuer. No change except for addition of the following: (a) The Lola Trust is the direct beneficial owner of 3,145,944 shares or approximately 75.68% of the 4,157,117 Shares outstanding as of October 31, 2009 (the "Outstanding Shares"), according to information contained in the Company's annual report to stockholders. By virtue of the relationships reported in this Statement, Mr. Horejsi may be deemed to share indirect beneficial ownership of the Shares directly beneficially owned by the Lola Trust. Mr. Horejsi disclaims all such beneficial ownership. By virtue of the relationships and transactions described in this Statement, the Reporting Persons may be deemed to constitute a group. Unless otherwise specifically stated, each Reporting Person disclaims beneficial ownership of Shares directly beneficially owned by other Reporting Persons. (c) The table below sets forth information relating to the purchases of Shares by the Lola Trust. Such purchases were effected by the Lola Trust on the New York Stock Exchange.
---------------- -------------- --------------------- Date Shares Purchase Price ---------------- -------------- --------------------- 11/23/09 300 $13.78 11/24/09 700 $13.72 12/01/09 4,000 $13.90 12/03/09 300 $13.82 12/08/09 4,000 $14.03 12/10/09 1,279 $13.95 12/14/09 100 $13.97 12/15/09 350 $13.96 12/15/09 1,500 $13.98 12/17/09 180 $13.83 12/18/09 2,400 $13.80 12/21/09 100 $13.83 12/21/09 787 $13.82 12/23/09 5,000 $14.01 01/08/10 2,000 $14.20 01/11/10 2,498 $14.20 01/11/10 1,600 $14.25 01/14/10 700 $14.26 01/14/10 1,000 $14.31 01/14/10 200 $14.30 01/14/10 2,000 $14.29 01/14/10 500 $14.25 01/14/10 400 $14.24 01/20/10 1,546 $14.32 01/21/10 4,100 $14.33 01/21/10 1,900 $14.35 01/21/10 200 $14.34 01/22/10 162 $14.25 01/25/10 2,000 $13.94 01/28/10 400 $14.13 01/28/10 1,000 $14.10 01/28/10 400 $14.04 01/28/10 100 $14.05 01/29/10 600 $14.21 01/29/10 1,300 $14.23 01/29/10 200 $14.06 01/29/10 500 $14.20 01/29/10 850 $14.16
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. Date: February 1, 2010 /s/ Stewart R. Horejsi - ---------------------- Stewart R. Horejsi /s/ Douglas J. Blattmachr - ------------------------- Douglas J. Blattmachr as President of Alaska Trust Company, trustee of the Lola Brown Trust No. 1B -----END PRIVACY-ENHANCED MESSAGE-----