-----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, IVgZQq06CYgG+Eyj5c5wkvlyAc9s7DU1AgNX+WIf5s06ynTg9HyQDN8N1zjSsdsP t9JozrzF4tgYVVzCb2fiqQ== 0000935836-98-000070.txt : 19980324 0000935836-98-000070.hdr.sgml : 19980324 ACCESSION NUMBER: 0000935836-98-000070 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980323 SROS: NASD SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: DM MANAGEMENT CO /DE/ CENTRAL INDEX KEY: 0000910721 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-CATALOG & MAIL-ORDER HOUSES [5961] IRS NUMBER: 042973769 STATE OF INCORPORATION: DE FISCAL YEAR END: 1228 FILING VALUES: FORM TYPE: SC 13G SEC ACT: SEC FILE NUMBER: 005-45515 FILM NUMBER: 98570532 BUSINESS ADDRESS: STREET 1: 25 RECREATION PARK DR STREET 2: STE 200 CITY: HINGHAM STATE: MA ZIP: 02043 BUSINESS PHONE: 6177402718 MAIL ADDRESS: STREET 1: 25 RECREATION PARK DRIVE SSTE 200 CITY: HINGHAM STATE: MA ZIP: 052043 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: WESTCLIFF CAPITAL MANAGEMENT LLC /ADV CENTRAL INDEX KEY: 0001020960 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 770435868 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 200 7TH AVE STREET 2: STE 105 CITY: SANTA CRUZ STATE: CA ZIP: 95062 BUSINESS PHONE: 4084790422 FORMER COMPANY: FORMER CONFORMED NAME: WESTCLIFF CAPITAL MANAGEMENT LLC /ADV DATE OF NAME CHANGE: 19961121 SC 13G 1 OMB APPROVAL OMB Number:3235-0145 Expires:December 31, 1997 Estimated average burden hours per form 14.90 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. *) DM Management Company (Name of Issuer) Common Stock (Title of Class of Securities) 233233105 (CUSIP Number) March 20, 1998 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule 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 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). Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1745 (3-98) CUSIP No. 233233105 13G Page 2 of 10 Pages - ---------------------------------------------------------------- 1 NAME OF REPORTING PERSONS IRS IDENTIFICATION NO. OF ABOVE PERSONS (entities only) (entities only) Westcliff Capital Management, LLC - ---------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a) / / (b) / / - ---------------------------------------------------------------- 3 SEC USE ONLY - ---------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION California - ---------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES 403,175 BENEFICIALLY --------------------------------------- OWNED BY 6 SHARED VOTING POWER EACH -0- REPORTING --------------------------------------- PERSON 7 SOLE DISPOSITIVE POWER WITH 403,175 --------------------------------------- 8 SHARED DISPOSITIVE POWER -0- - ---------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 403,175 - ---------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions) - ---------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 7.1 - ---------------------------------------------------------------- 12 TYPE OF REPORTING PERSONS (see instructions) OO and IA - ---------------------------------------------------------------- CUSIP No. 233233105 13G Page 3 of 10 Pages - ---------------------------------------------------------------- 1 NAME OF REPORTING PERSONS IRS IDENTIFICATION NO. OF ABOVE PERSONS (entities only) Richard S. Spencer III - ---------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a) / / (b) / / - ---------------------------------------------------------------- 3 SEC USE ONLY - ---------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States - ---------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES -0- BENEFICIALLY --------------------------------------- OWNED BY 6 SHARED VOTING POWER EACH 403,175 REPORTING --------------------------------------- PERSON 7 SOLE DISPOSITIVE POWER WITH -0- --------------------------------------- 8 SHARED DISPOSITIVE POWER 403,175 - ---------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 403,175 - ---------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions) - ---------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 7.1 - ---------------------------------------------------------------- 12 TYPE OF REPORTING PERSONS (see instructions) IN - ---------------------------------------------------------------- CUSIP No. 233233105 13G Page 4 of 10 Pages - ---------------------------------------------------------------- 1 NAME OF REPORTING PERSONS IRS IDENTIFICATION NO. OF ABOVE PERSONS (entities only) David R. Korus - ---------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a) / / (b) / / - ---------------------------------------------------------------- 3 SEC USE ONLY - ---------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States - ---------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES -0- BENEFICIALLY --------------------------------------- OWNED BY 6 SHARED VOTING POWER EACH 403,175 REPORTING --------------------------------------- PERSON 7 SOLE DISPOSITIVE POWER WITH -0- --------------------------------------- 8 SHARED DISPOSITIVE POWER 403,175 - ---------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 403,175 - ---------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions) - ---------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 7.1 - ---------------------------------------------------------------- 12 TYPE OF REPORTING PERSONS (see instructions) IN - ---------------------------------------------------------------- CUSIP No. 233233105 13G Page 5 of 10 Pages ITEM 1. (a) The name of the issuer is DM Management Company ("DMMC"). (b) The principal executive office of DMMC is located at 25 Recreation Park Drive, Suite 200, Hingham, Massachusetts 02043. ITEM 2. The persons filing this statement are as follows: (a) Westcliff Capital Management, LLC, a California limited liability company ("WCM"); Richard S. Spencer III ("Spencer"); and David R. Korus ("Korus"). Spencer and Korus are the sole owners and managers of WCM. (b) The business address of WCM and Spencer is 200 Seventh Avenue, Suite 105, Santa Cruz, California 95062. The business address of Korus is 152 W. 57th Street, New York, New York 10019. (c) Spencer and Korus are citizens of the United States. (d) This statement relates to shares of Common Stock of DMMC (the"Stock"). (e) The CUSIP number of the Stock is 233233105. CUSIP No. 233233105 13G Page 6 of 10 Pages ITEM 3. If this statement is filed pursuant to rule 240.13d- 1(b), or 240.13d-2(b) or (c), check whether the person filing is a: (a) ___ Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) ___ Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) ___ Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) ___ Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) _X__ An investment adviser in accordance with 240.13d- 1(b)(1)(ii)(E). (f) ___ An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F). (g) ___ A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G) (h) ___ A savings association as defined in section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813). (i) ___ A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3). (j) ___ Group, in accordance with section 240.13d- 1(b)(1)(ii)(J) If this statement is filed pursuant to 240.13d-1(c), check this box. /___/. CUSIP No. 233233105 13G Page 7 of 10 Pages ITEM 4. OWNERSHIP. The beneficial ownership of the Stock of the persons named in Item 2 of this statement is as follows at the date hereof: Westcliff Capital Management, LLC (a) Amount beneficially owned: 403,175. (b) Percent of class: 7.1. (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote 403,175. (ii) Shared power to vote or to direct the vote -0-. (iii) Sole power to dispose or to direct the disposition of 403,175. (iv) Shared power to dispose or to direct the disposition of -0-. Richard S. Spencer III (a) Amount beneficially owned: 403,175. (b) Percent of class: 7.1. (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote -0-. (ii) Shared power to vote or to direct the vote 403,175. (iii) Sole power to dispose or to direct the disposition of -0-. (iv) Shared power to dispose or to direct the disposition of 403,175. CUSIP No. 233233105 13G Page 8 of 10 Pages Davis R. Korus (a) Amount beneficially owned: 403,175. (b) Percent of class: 7.1. (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote -0-. (ii) Shared power to vote or to direct the vote 403,175. (iii) Sole power to dispose or to direct the disposition of -0-. (iv) Shared power to dispose or to direct the disposition of 403,175. CUSIP No. 233233105 13G Page 9 of 10 Pages ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following /___/. ITEM. 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON WCM is a registered investment adviser whose clients have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Stock. No individual client's holdings of the Stock are more than 5 percent of the class. ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY Not applicable. ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP Not applicable. ITEM 9. NOTICE OF DISSOLUTION OF GROUP Not applicable. CUSIP No. 233233105 13G Page 10 of 10 Pages ITEM 10. CERTIFICATION By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and 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 DATED: March 20, 1998 WESTCLIFF CAPITAL MANAGEMENT, LLC /s/ Richard S. Spencer Richard S. Spencer By: /s/ Richard S. Spencer III Richard S. Spencer III David R. Korus Manager By: /s/ Richard S. Spencer Richard S. Spencer Attorney-in-Fact -----END PRIVACY-ENHANCED MESSAGE-----