-----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, UuEyyn2QocshDQGGqzioSiLE1i1gS4PNrVbJn3DZVQGsEzh1cGZ/xCZbBel5LsBa jJ+4hs0q1jrUgoc9HwPT8A== 0000889812-99-001795.txt : 20020715 0000889812-99-001795.hdr.sgml : 19990610 ACCESSION NUMBER: 0000889812-99-001795 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19990609 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: EXCELSIOR INCOME SHARES INC CENTRAL INDEX KEY: 0000033934 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 132727013 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-41021 FILM NUMBER: 99642628 BUSINESS ADDRESS: STREET 1: 114 W 47TH ST CITY: NEW YORK STATE: NY ZIP: 10036 BUSINESS PHONE: 2128523732 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: KARPUS MANAGEMENT INC CENTRAL INDEX KEY: 0001048703 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 161290558 STATE OF INCORPORATION: NY FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 14 TOBEY VILLAGE OFFICE PARK CITY: PITTSFORD STATE: NY ZIP: 14534 BUSINESS PHONE: 7165864680 SC 13D/A 1 AMENDMENT NO. 10 - -------------------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 10)* Excelsior Income Shares, Inc. ----------------------------- (Name of Issuer) Common Stock ------------------------------ (Title of Class of Securities) 300723103 -------------- (CUSIP Number) George W. Karpus, President Karpus Management Inc., d/b/a Karpus Investment Management 14 Tobey Village Office Park Pittsford, New York 14534 (716) 586-4680 -------------------------------------------------------- (Name, Address, and Telephone Number of Person Authorized to Receive Notices and Communications) June 7, 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 subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1 (b) (3) or (4), check the following box. [x] - -------------------------------------------------------------------------------- (Page 1 of 4) CUSIP No. 300723103 Page 2 of 4 Pages - ------------------- ----------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Karpus Management, Inc. d/b/a Karpus Investment Management I.D.: #16-1290558 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* AF - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION New York - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 140,177 SHARES -------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH -------------------------------------------------------------- REPORTING 9 SOLE DISPOSITIVE POWER PERSON 140,177 WITH -------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 140,177 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.41% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IA - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDES BOTH SIDES OF THE COVER PAGE, RESONSES TO ITEMS 1-7 (INCLUDNG EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. ITEM 1 Security and Issuer Common Stock Excelsior Income Shares, Inc. ("EIS") 114 W. 47th Street, 8th Floor New York, NY 10036-1532 ITEM 2 Identity and Background a) Karpus Management, Inc. d/b/a/ Karpus Investment Management ("KIM") George W. Karpus, President, Director, and controlling stockholder JoAnn Van DeGriff, Vice President and Director Sophie Karpus, Director b) 14 Tobey Village Office Park Pittsford, New York 14534 c) Principal business and occupation - Investment Management for individuals, pension and profit sharing plans, corporations, endowments, trusts and others, specializing in conservative asset management ( i.e. fixed income investments). d) None of George W. Karpus, JoAnn Van DeGriff or Sophie Karpus (the "Principals") or KIM has been convicted in the past 5 years of any criminal proceeding as a result of which any of them is subject to a judgment, decree or final order enjoining future violations of or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. e) Each of the Principals is a United States Citizen. KIM is a New York corporation. ITEM 3 Source and Amount of Funds or Other Considerations KIM, an independent investment advisor, has accumulated 140,177 shares of EIS on behalf of accounts that are managed by KIM ("the Accounts") under limited powers of attorney which represents 6.41% of the outstanding shares. All funds that have been utilized in making such purchases are from such accounts. ITEM 4 Purpose of Transaction KIM has purchased Shares for investment purposes. Being primarily a conservative, fixed income manager, with a specialty focus in the closed end fund sector, the profile of EIS ( being a conservative investment grade fund) fit the investment guidelines for various Accounts. ITEM 5 Interest in Securities of the Issuer a) As of the date of this Report, KIM owns 140,177 shares which represent 6.41% of the outstanding Shares. Karpus Investment Management Profit Sharing Plan purchased 100 shares at $16.125 on June 29, 1995 and 400 shares at $16.125 on June 30, 1995. None of the Principals presently own shares. b) KIM has the sole power to dispose of and to vote all such Shares under limited powers of attorney. c) Open market purchases or sales in the last 60 days for the Accounts. (Page 3 of 4) There have been no dispositions and no acquisitions, other than by such open market purchases during such time period. Date Shares Price Per Date Shares Price Per Share Share 4/1/99 3700 16.25 5/3/99 1700 15.875 4/5/99 600 16.25 5/11/99 1100 15.8125 4/6/99 100 16.25 5/12/99 700 15.8125 4/8/99 500 16.25 5/13/99 -700 15.875 4/13/99 400 16.125 5/24/99 600 15.6875 4/14/99 1300 16.125 5/25/99 2400 15.6875 4/16/99 100 16.125 5/25/99 500 15.625 4/22/99 2200 15.875 5/26/99 1300 15.625 4/30/99 100 15.875 5/26/99 -1000 15.625 5/27/99 1000 15.625 5/28/99 200 15.625 *The 700 shares from 05-13-99 were transferred out of our firm. The Accounts have the right to receive all dividends from, and any proceeds from the sale of, the Shares. None of the Accounts has an interest in Shares constituting more than 5% of the Shares outstanding. ITEM 6 Contracts, Arrangements, Understandings, or Relationships with Respect to Securities of the Issuer. Except as described above, there are no contracts, arrangements, understandings or relationships of any kind among the Principals and KIM and between any of them and any other person with respect to any of the EIS Securities. ITEM 7 Materials to be Filed as Exhibits Not applicable. 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. Karpus Management, Inc. June 7, 1999 By: /s/ George W. Karpus - ------------ --------------------------- Date Signature George W. Karpus, President --------------------------- Name / Title (Page 4 of 4) -----END PRIVACY-ENHANCED MESSAGE-----