-----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, Ro+BRCNnLaBS4P/DW68jgQkxusyeQSMYHTXYt7RSRaG8h+rlEP1HXLg/k/8O41X5 GvtucGl+efxNIKSG/TEaLA== 0001214916-05-000065.txt : 20051115 0001214916-05-000065.hdr.sgml : 20051115 20051114180529 ACCESSION NUMBER: 0001214916-05-000065 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20051115 DATE AS OF CHANGE: 20051114 GROUP MEMBERS: ERIC D. HOVDE GROUP MEMBERS: HOVDE CAPITAL ADVISORS LLC GROUP MEMBERS: STEVEN D. HOVDE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: NATIONAL ATLANTIC HOLDINGS CORP CENTRAL INDEX KEY: 0000946492 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 000000000 STATE OF INCORPORATION: NJ FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-80703 FILM NUMBER: 051203679 BUSINESS ADDRESS: STREET 1: 303 WEST MAIN ST CITY: FREEHOLD STATE: NJ ZIP: 07723 BUSINESS PHONE: 9087800700 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: HOVDE ERIC D CENTRAL INDEX KEY: 0001019973 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: BUSINESS PHONE: 2027758109 MAIL ADDRESS: STREET 1: 1826 JEFFERSON PLACE NW CITY: WASHINGTON STATE: DC ZIP: 20036 SC 13G/A 1 nahc13ga3hovde.txt 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G/A UNDER THE EXCHANGE ACT OF 1934 National Atlantic Holdings Corporation - ------------------------------------------------------------------------------- (Name of Issuer) Common Stock, no par value per share - ------------------------------------------------------------------------------- (Title of Class of Securities) 63253Y107 - ------------------------------------------------------------------------------- (CUSIP Number) October 31, 2005 - ------------------------------------------------------------------------------- (Date of Event which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [ ] Rule 13d-1(b) [X] 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). Page 1 of 9 2
- ------------------------------------------------------------------------------- CUSIP NUMBER 63253Y107 - ------------------------------------------------------------------------------- 1. NAMES OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). ERIC D. HOVDE - ------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[ ] (b)[X] - ------------------------------------------------------------------------------- 3. SEC Use Only - ------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION U.S.A. - ------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES BENEFICIALLY OWNED BY 21,000 shares EACH ------------------------------------------------------- REPORTING 6. SHARED VOTING POWER PERSON WITH(1) 1,454,543 shares ------------------------------------------------------- 7. SOLE DISPOSITIVE POWER 21,000 -------------------------------------------------------- 8. SHARED DISPOSITIVE POWER 1,454,543 shares - ------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,475,543 shares - ------------------------------------------------------------------------------- 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see Instructions). [ ] - ------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 13.5% - ------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON IN - ------------------------------------------------------------------------------- (1) Of the 1,475,543 Shares beneficially owned by Eric D. Hovde, 21,000 Shares are owned directly by Eric D. Hovde, 1,439,168 shares are beneficially owned by Eric D. Hovde as the President, Chief Executive Officer and Managing Member of Hovde Capital Advisors LLC, the investment manager to certain managed accounts, which are the direct owners of those Shares, 10,250 Shares are beneficially owned by Eric D. Hovde as the Trustee to the Eric D. and Steven D. Hovde Foundation, the direct owner of such Shares, 5,125 Shares are beneficially owned by Eric D. Hovde as a Trustee to the Hovde Financial, Inc. Profit Sharing Plan and Trust, the direct owner.
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- ------------------------------------------------------------------------------- CUSIP NUMBER 63253Y107 - ------------------------------------------------------------------------------- 1. NAMES OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). STEVEN D. HOVDE - ------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[ ] (b)[X] - ------------------------------------------------------------------------------- 3. SEC Use Only - ------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION U.S.A. - ------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES BENEFICIALLY OWNED BY 0 EACH ------------------------------------------------------- REPORTING 6. SHARED VOTING POWER PERSON WITH(2) 1,454,543 shares ------------------------------------------------------- 7. SOLE DISPOSITIVE POWER 0 ------------------------------------------------------- 8. SHARED DISPOSITIVE POWER 1,454,543 shares - ------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,454,543 shares - ------------------------------------------------------------------------------- 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see Instructions). [ ] - ------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 13.3% - ------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON IN - ------------------------------------------------------------------------------- (2) The 1,454,543 Shares beneficially owned by Steven D. Hovde are as Chairman and Member of Hovde Capital Advisors LLC, the investment manager to certain managed accounts, which are the direct owners of the Shares, 10,250 owned by Steven D. Hovde as the Trustee to the Eric D. and Steven D. Hovde Foundation, the direct owner of such Shares, 5,125 Shares are beneficially owned by Steven D. Hovde as a Trustee to the Hovde Financial, Inc. Profit Sharing Plan and Trust, the direct owner.
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- ------------------------------------------------------------------------------- CUSIP NUMBER 63253Y107 - ------------------------------------------------------------------------------- 1. NAMES OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). Hovde Capital Advisors LLC / 03-0430205 - ------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[ ] (b)[X] - ------------------------------------------------------------------------------- 3. SEC Use Only - ------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION Organized: State of Delaware - ------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES BENEFICIALLY OWNED BY 0 EACH -------------------------------------------------------- REPORTING 6. SHARED VOTING POWER PERSON WITH(1) 1,439,168 shares -------------------------------------------------------- 7. SOLE DISPOSITIVE POWER 0 -------------------------------------------------------- 8. SHARED DISPOSITIVE POWER 1,439,168 shares - ------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,439,168 shares - ------------------------------------------------------------------------------- 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see Instructions). [ ] - ------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 13.2% - ------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON IA - ------------------------------------------------------------------------------- (1) The 1,439,168 Shares beneficially owned by Hovde Capital Advisors LLC are as investment manager to certain managed accounts, which are the direct owners of the Shares.
Page 4 of 9 5 Item 1. The Name of the Issuer is National Atlantic Holdings Corporation (the "Issuer"). The address of the Issuer's Principal Executive Offices is 4 Paragon Way, Freehold, NJ 07728 Item 2. The persons filing this statement are Eric D. Hovde, Steven D. Hovde, and Hovde Capital Advisors LLC (collectively, the "Reporting Persons"). Eric D. Hovde's and Hovde Captial Advisors LLC's Principal Business Office is 1826 Jefferson Place, N.W., Washington, D.C. 20036, and Steven D. Hovde's Principal Business Office is 1629 Colonial Parkway, Inverness, IL 60067. Eric D. Hovde is President, Chief Executive Officer and Managing Member of Hovde Capital Advisors LLC (the "Investment Manager"), a limited liability company organized under the laws of the State of Delaware. Steven D. Hovde is Chairman and Member of the Investment Manager. Eric D. Hovde and Steven D. Hovde are trustees of each of the Eric D. and Steven D. Hovde Foundation (the "Foundation") and the Hovde Financial, Inc. Profit Sharing Plan and Trust (the "Plan"). The class of securities to which this statement relates is the Issuer's common stock, no par value per share (the "Securities" or "Shares"). The CUSIP number of the Securities is 63253Y107. The Investment Manager manages certain accounts (the "Managed Accounts"), which are the direct owners of 1,439,168 Shares. The Foundation and the Plan directly own 10,250 and 5,125 Shares, respectively. Eric D. Hovde and Steven D. Hovde may be deemed to hold beneficial interests in the Shares by virtue of their positions as officers, managers, and/or trustees of and/or ownership interests in the Investment Manager, the Foundation, and/or the Plan, as applicable. Further, Eric D. Hovde owns 21,000 Shares directly. Steven D. Hovde and the Investment Manager disclaim beneficial ownership of the 21,000 Shares directly owned by Eric D. Hovde. Item 3. If this statement is filed pursuant to sections 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)[ ] An investment adviser in accordance with Section 240.13d-1(b)(1)(ii)(E);**** (f)[ ] An employee benefit plan or endowment fund in accordance with section 240.13d-1(b)(1)(ii)(F); (g)[ ] A parent holding company or control person in accordance with section 240.13d-1(b)(1)(ii)(G); (h)[ ] A savings associations 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). Not Applicable Page 5 of 9 6 Item 4. Ownership Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. As to Eric D. Hovde: (a) Amount beneficially owned: 1,475,543. (b) Percent of class: 13.5%. (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 21,000. (ii) Shared power to vote or direct the vote: 1,454,543. (iii) Sole power to dispose or to direct the disposition of: 21,000. (iv) Shared power to dispose or to direct the disposition of: 1,454,543. As to Steven D. Hovde: (a) Amount beneficially owned: 1,454,543. (b) Percent of class: 13.3%. (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 direct the vote: 1,454,543. (v) Sole power to dispose or to direct the disposition of: 0. (vi) Shared power to dispose or to direct the disposition of: 1,454,543. As to Hovde Capital Advisors LLC: (a) Amount beneficially owned: 1,439,168. (b) Percent of class: 13.2%. (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 direct the vote: 1,439,168. (iii) Sole power to dispose or to direct the disposition of: 0. (iv) Shared power to dispose or to direct the disposition of: 1,439,168. Page 6 of 9 7 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 None of the Managed Accounts, the Foundation, or the Plan, Which are the direct owners of certain of the Shares, and have the right to receive and/or the power to direct the receipt of dividends from, or the proceeds from the sale of, certain of the Shares, individually own, directly or beneficially, more than five percent of the class of the Shares. Hovde Capital Advisors LLC as the investment manager to the Managed Accounts, and Eric D. Hovde and Steven D. Hovde as officers, directors, and/or members of Hovde Capital Advisors LLC, and as trustees to the Foundation and the Plan, may each be deemed to beneficially own more than 5% of the Shares. Page 7 of 9 8 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 Hovde Capital Advisors LLC is the investment advisor to the Managed Accounts, which are the direct owners of 1,439,168 Shares. Eric D. Hovde and Steven D. Hovde are officers, directors, and/or members of Hovde Capital Advisors LLC, and may be deemed to be beneficial owners of the Shares directly owned by the Managed Accounts. The Foundation and the Plan are direct owners of 10,250 and 5,125 Shares, respectively. Eric D. Hovde and Steven D. Hovde are trustees of each of the Foundation and the Plan. Accordingly, Eric D. Hovde and Steven D. Hovde my be deemed to be beneficial owners of the Shares held directly by the Foundation and the Plan. Additionally, Eric D. Hovde is the direct owner of 21,000 Shares. None of the Foundation, the Plan, or any of the Managed Accounts directly own 5% or more of the Shares. This Schedule 13G/a is being filed by Eric D. Hovde, Steven D. Hovde, and Hovde Capital Advisors LLC collectively in the event that they are deemed to be acting as a group within the meaning of Section 13(d)(3) of the Act. Item 9. Notice of Dissolution of Group Not Applicable Item 10. Certification By signing below I certify that, to the best of my 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. 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. 11/14/05 ---------------------------- Date ERIC D. Hovde /S/ Eric D. Hovde ---------------------------- STEVEN D. HOVDE /S/ Steven D. Hovde ---------------------------- Hovde Capital Advisors LLC /S/ Eric D. Hovde ---------------------------- Managing Member Page 8 of 9 9 Exhibit A Consent to Group Filing Each of the undersigned parties hereby consents and agrees to the filing as a group (within the meaning of Section 13(d)(3) of the Act) of this Schedule 13G/A and any amendments hereto with respect to the undersigned parties' beneficial ownership of the common stock, no par value per share, of National Atlantic Holdings Corporation, CUSIP number 63253Y107. 11/14/05 ---------------------------- Date ERIC D. Hovde /S/ Eric D. Hovde ---------------------------- STEVEN D. HOVDE /S/ Steven D. Hovde ---------------------------- Hovde Capital Advisors LLC /S/ Eric D. Hovde ---------------------------- Managing Member Page 9 of 9 -----END PRIVACY-ENHANCED MESSAGE-----