-----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, A0lPX6qJ2MWJVnSWlpnyDf3NS4cT6YfN8vuK5CIbQBb+cQNNgCMWuzRbOt//0LWF gpS49jsYccn2DkYFapYqqg== 0001058854-05-000252.txt : 20051229 0001058854-05-000252.hdr.sgml : 20051229 20051229170601 ACCESSION NUMBER: 0001058854-05-000252 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20051229 DATE AS OF CHANGE: 20051229 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BKF CAPITAL GROUP INC CENTRAL INDEX KEY: 0000009235 STANDARD INDUSTRIAL CLASSIFICATION: INVESTMENT ADVICE [6282] IRS NUMBER: 360767530 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-30028 FILM NUMBER: 051292060 BUSINESS ADDRESS: STREET 1: ONE ROCKEFELLER PLAZA CITY: NEW YORK STATE: NY ZIP: 10020 BUSINESS PHONE: 2123328400 MAIL ADDRESS: STREET 1: ONE ROCKEFELLER PLAZA CITY: NEW YORK STATE: NY ZIP: 10020 FORMER COMPANY: FORMER CONFORMED NAME: BAKER FENTRESS & CO DATE OF NAME CHANGE: 19970829 FORMER COMPANY: FORMER CONFORMED NAME: BAKER FENTRESS & CO ET AL DATE OF NAME CHANGE: 19940714 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: CANNELL CAPITAL LLC CENTRAL INDEX KEY: 0001058854 IRS NUMBER: 943366999 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 150 CALIFORNIA STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94111 BUSINESS PHONE: 4158358300 MAIL ADDRESS: STREET 1: 150 CALIFORNIA STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94111 FORMER COMPANY: FORMER CONFORMED NAME: CANNELL J CARLO DBA CANNELL CAPITAL MGMT DATE OF NAME CHANGE: 19980330 SC 13D 1 bkf13d05-12v3.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. )* BKF Capital Group, Inc. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock - -------------------------------------------------------------------------------- (Title of Class Securities) 05548G102 ------------------------------------ (CUSIP Number) J. Carlo Cannell Cannell Capital, LLC, 150 California Street, 5th Floor, San Francisco, CA 94111 (415) 835-8300 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) November 22, 2005 - -------------------------------------------------------------------------------- (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 ss.ss.240.13d-1(e), 240.13d-1(f) or 240.13d-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 ss.240.13d-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 the disclosure provided in a prior cover page. The information required in 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 current valid OMB control number. CUSIP No. 05548G102 1. Name of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). J. Carlo Cannell - -------------------------------------------------------------------------------- 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) OO................................. ------------------------------------ - -------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceeding Is Required Pursuant to Items 2(d) or 2(e)................................................................ ----------------------------------------------------------------- - -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization USA.......................... --------------------------------- - -------------------------------------------------------------------------------- Number of 7. Sole Voting Power 1,004,400 .............................. ---------------------------------------- Shares Beneficially Owned by Each Reporting Person With: ------------------------------------------------------------------- - ------------------------------------------------------------------------------- 8. Shared Voting Power 0............................. -------------------------------------- ------------------------------------------------------------------- - ------------------------------------------------------------------------------- 9. Sole Dispositive Power 1,004,400..................... ----------------------------------- ------------------------------------------------------------------- - ------------------------------------------------------------------------------- 10. Shared Dispositive Power 0.......................... ---------------------------------- ------------------------------------------------------------------- - -------------------------------------------------------------------------------- 11.Aggregate Amount Beneficially Owned by Each Reporting Person 1,004,400 ------------ 12.Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) 13.............Percent of Class Represented by Amount in Row (11) 12.8% --------- - -------------------------------------------------------------------------------- 14............................Type of Reporting Person (See Instructions) - -------------------------------------------------------------------------------- IN.................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- Item 1 Security and Issuer This statement relates to Common Stock ("Common Stock"), issued by BKF Capital Group, Inc.. The address of the principal executive offices of BKF Capital Group, Inc. is One Rockefeller Plaza, New York, NY 10020. Item 2 Identity and Background The person filing this report is J. Carlo Cannell ("Cannell") who is the controlling member of Cannell Capital, LLC ("Adviser"). The Adviser acts as the investment adviser to The Cuttyhunk Fund Limited ("Cuttyhunk"), The Anegada Master Fund Limited ("Anegada"), and TE Cannell Portfolio, Ltd. ("TEC") and is the general partner of and investment adviser to Tonga Partners, L.P. ("Tonga" and, collectively, with Cuttyhunk, Adegada and TEC, the "Funds"). The principal office and business address of Mr. Cannell is 150 California Street, 5th Floor, San Francisco, CA 94111. The principal business of each Fund is to invest in securities. Mr. Cannell has never been convicted in any criminal proceeding (excluding traffic violations or similar misdemeanors), nor has Mr. Cannell been a party to any civil proceeding commenced before a judicial or administrative body of competent jurisdiction as a result of which he was or is now 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. Mr. Cannell is a citizen of the United States. Item 3 Source and amount of Funds or other Consideration Each Fund utilized its own available net assets to purchase the securities referred to in this Schedule. Item 4 Purpose of Transaction The securities referred to in this Schedule have been acquired by each of the Funds for investment purposes and not with the purpose or effect of changing or influencing control of the Company. Each Fund acquired the securities in the ordinary course of business and is holding the securities for the benefit of its investors. Mr. Cannell reserves the right to take such action as he may determine from time to time to seek to maximize the value of the Common Stock. Such actions may include, but may not necessarily be limited to, pursuit of strategic initiatives to enhance shareholder value. Except as described herein, Mr. Cannell has no present plans or intentions that relate to or that would result in any of the transactions described in clauses (a) through (j) of item 4 of Schedule 13D. Item 5 Interest in Securities of the Issuer (a) Based on 7,834,829 shares of Common Stock outstanding as of September 30,2005, Cuttyhunk owns 207,200 shares of Common Stock, or 2.6% of the shares outstanding, Anegada owns 247,200 shares of Common Stock, or 3.2% of the shares outstanding, TEC owns 157,700 shares of Common Stock, or 2.0% of the shares outstanding, and Tonga owns 392,300 shares of Common Stock, or 5.0% of the shares outstanding. Mr. Cannell has the sole power to vote and to direct the disposition of all shares of Common Stock owned by each of the Funds. Accordingly, Mr. Cannell is deemed to beneficially own a total of 1,004,400 shares of Common Stock, or 12.8% of the outstanding shares. (c) A list of transactions by each Fund. - -------------------------------------------------------------------------------- Party Date Amount Price per Where & How Bought Share Effected (Sold) - -------------------------------------------------------------------------------- CUTTYHUNK 11/15/2005 (12,400) 23.06 Open Market CUTTYHUNK 11/15/2005 (1,500) 23.06 Open Market CUTTYHUNK 11/15/2005 (3,100) 23.06 Open Market CUTTYHUNK 11/17/2005 (5,000) 21.64 Open Market CUTTYHUNK 11/18/2005 (5,400) 21.66 Open Market CUTTYHUNK 11/21/2005 (6,300) 21.66 Open Market CUTTYHUNK 11/22/2005 (7,200) 21.10 Open Market CUTTYHUNK 11/22/2005 (4,500) 21.10 Open Market CUTTYHUNK 11/22/2005 (200) 21.10 Open Market CUTTYHUNK 11/22/2005 (700) 21.10 Open Market CUTTYHUNK 11/22/2005 (1,000) 21.10 Open Market CUTTYHUNK 11/22/2005 (5,100) 21.10 Open Market CUTTYHUNK 11/22/2005 (2,900) 21.10 Open Market CUTTYHUNK 11/22/2005 (100) 21.10 Open Market TE CANNELL 11/15/2005 (700) 23.06 Open Market TE CANNELL 11/15/2005 (13,200) 23.06 Open Market TE CANNELL 11/17/2005 (1,800) 21.64 Open Market TE CANNELL 11/17/2005 (2,200) 21.64 Open Market TE CANNELL 11/18/2005 (400) 21.66 Open Market TE CANNELL 11/18/2005 (100) 21.66 Open Market TE CANNELL 11/18/2005 (400) 21.66 Open Market TE CANNELL 11/18/2005 (500) 21.66 Open Market TE CANNELL 11/18/2005 (2,900) 21.66 Open Market TE CANNELL 11/18/2005 (100) 21.66 Open Market TE CANNELL 11/21/2005 (1,500) 21.66 Open Market TE CANNELL 11/21/2005 (2,600) 21.66 Open Market TE CANNELL 11/21/2005 (300) 21.66 Open Market TE CANNELL 11/21/2005 (800) 21.66 Open Market TE CANNELL 11/22/2005 (800) 21.10 Open Market TE CANNELL 11/22/2005 (1,300) 21.10 Open Market TE CANNELL 11/22/2005 (600) 21.10 Open Market TE CANNELL 11/22/2005 (1,800) 21.10 Open Market TE CANNELL 11/22/2005 (100) 21.10 Open Market TE CANNELL 11/22/2005 (800) 21.10 Open Market TE CANNELL 11/22/2005 (4,300) 21.10 Open Market TE CANNELL 11/22/2005 (3,500) 21.10 Open Market TE CANNELL 11/22/2005 (4,500) 21.10 Open Market (d) Not Applicable (e) Not Applicable Item 6 Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer No contracts, arrangements, understandings or similar relationships exist with respect to the securities of the Company between Mr. Cannell and any other individual or entity. Item 7 Material to Be Filed as Exhibits Not Applicable 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: December 23, 2005 J. Carlo Cannell /s/ J. Carlo Cannell ------------------------------ J. Carlo Cannell -----END PRIVACY-ENHANCED MESSAGE-----