-----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, R7Q/XHGbnSEO1ZZbWPFfa7IV35nGohXFCSrojMocVlttRI0oIROZXhMcu5bGdieH 1kMaLp++P0YSeLpycc8Dzg== 0001111830-09-000041.txt : 20090114 0001111830-09-000041.hdr.sgml : 20090114 20090114085034 ACCESSION NUMBER: 0001111830-09-000041 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20090114 DATE AS OF CHANGE: 20090114 GROUP MEMBERS: HUSSMAN ECONOMETRICS ADVISORS, INC. GROUP MEMBERS: HUSSMAN INVESTMENT TRUST SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PANERA BREAD CO CENTRAL INDEX KEY: 0000724606 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-EATING PLACES [5812] IRS NUMBER: 042723701 STATE OF INCORPORATION: DE FISCAL YEAR END: 1227 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-42571 FILM NUMBER: 09525252 BUSINESS ADDRESS: STREET 1: 6710 CLAYTON RD CITY: RICHMOND HEIGHTS STATE: MO ZIP: 63117 BUSINESS PHONE: 3146337100 MAIL ADDRESS: STREET 1: 6710 CLAYTON RD CITY: RICHMOND HEIGHTS STATE: MO ZIP: 63117 FORMER COMPANY: FORMER CONFORMED NAME: AU BON PAIN CO INC DATE OF NAME CHANGE: 19940201 FORMER COMPANY: FORMER CONFORMED NAME: AU BON PAIN COMPANY INC DATE OF NAME CHANGE: 19920501 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: HUSSMAN ECONOMETRICS ADVISORS, INC. CENTRAL INDEX KEY: 0001179475 IRS NUMBER: 383083913 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 5136 DORSEY HALL DRIVE CITY: ELLICOTT CITY, STATE: MD ZIP: 21042 BUSINESS PHONE: (410) 715-1145 MAIL ADDRESS: STREET 1: 5136 DORSEY HALL DRIVE CITY: ELLICOTT CITY, STATE: MD ZIP: 21042 FORMER COMPANY: FORMER CONFORMED NAME: HUSSMAN ECONOMETRICS ADVISORS INC DATE OF NAME CHANGE: 20020807 SC 13G 1 sc13g-1008.txt HUSSMAN ECONOMETRICS ADVISORS, INC. - SC 13G UNITED STATES SECURITIES & EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ______________________ SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 (Amendment No. )* Panera Bread Company - -------------------------------------------------------------------------------- (Name of Issuer) Class A Common Stock - -------------------------------------------------------------------------------- (Title of Class of Securities) 69840W 10 8 - -------------------------------------------------------------------------------- (CUSIP Number) October 6, 2008 - -------------------------------------------------------------------------------- (Date of event which requires filing of this statement) Check the appropriate box to designate the rule pursuant to which this Schedule 13G is filed: [x] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) ________________ * 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 the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for purposes 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. 69840W 10 8 13G Page 2 of 7 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Hussman Strategic Growth Fund, an investment portfolio of Hussman Investment Trust 52-2226627 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |X| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Ohio U.S.A. - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 0 -------------------------------------------------------------------------- 6 SHARED VOTING POWER 2,250,000 -------------------------------------------------------------------------- 7 SOLE DISPOSITIVE POWER 0 -------------------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 2,250,000 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 2,250,000 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.69% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* IV - -------------------------------------------------------------------------------- CUSIP No. 69840W 10 8 13G Page 3 of 7 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Hussman Econometrics Advisors, Inc. 38-3083913 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |X| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Maryland U.S.A. - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 0 -------------------------------------------------------------------------- 6 SHARED VOTING POWER 2,250,000 -------------------------------------------------------------------------- 7 SOLE DISPOSITIVE POWER 0 -------------------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 2,250,000 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 2,250,000 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.69% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* IA - -------------------------------------------------------------------------------- CUSIP No. 69840W 10 8 13G Page 4 of 7 Pages Item 1(a). Name of Issuer: Panera Bread Company Item 1(b). Address of Issuer's Principal Executive Offices: 6710 Clayton Road Richmond Heights, Missouri 63117 Item 2(a). Name of Person Filing: This statement is filed by: (i) Hussman Strategic Growth Fund (the "Fund"), an investment portfolio of Hussman Investment Trust (the "Trust"), an open-end management investment company, with respect to the Class A Common Stock directly owned by it; and (ii) Hussman Econometrics Advisors, Inc. (the "Adviser"), a Maryland corporation, with respect to the Class A Common Stock directly owned by the Fund. The foregoing persons are hereinafter sometimes referred to collectively as the "Reporting Persons." Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party. Item 2(b). Address of Principal Business Office or, if None, Residence: The address of the business office of each of the Reporting Persons is c/o Ultimus Fund Solutions, LLC, 225 Pictoria Drive, Suite 450, Cincinnati, Ohio 45246. Item 2(c). Citizenship: The Trust is an unincorporated business trust that was organized under Ohio law on June 1, 2000. The Adviser is a Maryland corporation. Item 2(d). Title of Class of Securities: Class A Common Stock CUSIP No. 69840W 10 8 13G Page 5 of 7 Pages Item 2(e). CUSIP Number: 69840W 10 8 Item 3. If this statement is filed pursuant to Rules 13d-1(b) or 13d-2(b) or (c), check whether the person filing is a: (a) [ ] Broker or dealer registered under Section 15 of the Act, (b) [ ] Bank as defined in Section 3(a)(6) of the Act, (c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act, (d) [x] Investment Company registered under Section 8 of the Investment Company Act of 1940, [with respect to the Trust] (e) [x] Investment Adviser in accordance with Rule 13d-1 (b)(1)(ii)(E), [with respect to the Adviser] (f) [ ] Employee Benefit Plan or Endowment Fund in accordance with 13d-1 (b)(1)(ii)(F), (g) [ ] Parent Holding Company or control person in accordance with Rule 13d-1 (b)(1)(ii)(G), (h) [ ] Savings Association as defined in Section 3(b) of the Federal Deposit Insurance Act, (i) [ ] Church Plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940, (j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J). If this statement is filed pursuant to 13d-1(c), check this box: [ ] CUSIP No. 69840W 10 8 13G Page 6 of 7 Pages Item 4. Ownership. A. Hussman Strategic Growth Fund (a) Amount beneficially owned: 2,250,000 (b) Percent of class: 7.69% The percentages used herein and in the rest of Item 4 are calculated based upon the 29,260,000 shares of Class A Common Stock issued and outstanding as of December 31, 2008. (c) (i) Sole power to vote or direct the vote: 0 (ii) Shared power to vote or direct the vote: 2,250,000 (iii) Sole power to dispose or direct the disposition: 0 (iv) Shared power to dispose or direct the disposition: 2,250,000 B. Hussman Econometrics Advisors, Inc. (a) Amount beneficially owned: 2,250,000 (b) Percent of class: 7.69% The percentages used herein and in the rest of Item 4 are calculated based upon the 29,260,000 shares of Class A Common Stock issued and outstanding as of December 31, 2008. (c) (i) Sole power to vote or direct the vote: 0 (ii) Shared power to vote or direct the vote: 2,250,000 (iii) Sole power to dispose or direct the disposition: 0 (iv) Shared power to dispose or direct the disposition: 2,250,000 The Fund has the power to dispose of and the power to vote the shares of Class A Common Stock beneficially owned by it, which power may be exercised by its adviser, Hussman Econometrics Advisors, Inc. By reason of the provisions of Rule 13d-3 of the Securities Exchange Act of 1934, the Adviser each may be deemed to beneficially own the shares of Class A Common Stock owned by the Fund. Item 5. Ownership of Five Percent or Less of a Class. Not applicable. Item 6. Ownership of More than Five Percent on Behalf of Another Person. Hussman Econometrics Advisors, Inc. has the power to direct the affairs of the Fund, including decisions respecting the disposition of the proceeds from the sale of the shares of Class A Common Stock. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company. Not applicable. CUSIP No. 69840W 10 8 13G Page 7 of 7 Pages Item 8. Identification and Classification of Members of the Group. Not applicable. Item 9. Notice of Dissolution of Group. Not applicable. Item 10. Certification. Each of the Reporting Persons hereby makes the following certification: By signing below each Reporting Person certifies that, to the best of its knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. 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: January 12, 2009 HUSSMAN INVESTMENT TRUST By: /s/ John P. Hussman ------------------------------- Name: John P. Hussman Title: President HUSSMAN ECONOMETRICS ADVISORS, INC. By: /s/ John P. Hussman ------------------------------ Name: John P. Hussman Title: President -----END PRIVACY-ENHANCED MESSAGE-----