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U.S. Securities and Exchange Commission

Before the

Investment Advisers Act of 1940
Release No. 2262 / July 12, 2004

Admin. Proc. File No. 3-11201

In the Matter of

Nevis Capital Management, LLC, David Wilmerding, III, and Jon C. Baker


Order Directing Distribution of Disgorgement Fund

On April 30, 2004, the Commission published notice of the Plan of Disgorgement Fund Distribution (“Plan”) proposed by the Division of Enforcement (“Division”) in this proceeding. The Plan proposed that the funds paid by Nevis Capital Management, LLC, David R. Wilmerding, III, and Jon C. Baker, comprised of disgorgement and prejudgment interest in the amount of $10,000.00 each, and civil penalties in the amounts of $1,690,000.00, $140,000.00, and $140,000.00, respectively, or a total of $2,000,000.00, be distributed to clients of Nevis Capital as of December 1, 1998, who were otherwise eligible but were not given the opportunity to participate in IPO investments. The Plan was approved on June 4, 2004. The Commission’s staff has employed reasonable efforts to locate the claimants identified in the Plan and to gather information as contemplated by the Plan, and has succeeded in contacting and obtaining information from all potential claimants. The Administrator of the Plan has sought an order of the Commission authorizing distribution to claimants in accordance with the terms of the Plan.


IT IS ORDERED that the Office of Financial Management shall make the following distributions1 no later than the earlier of (i) 30 days after the expiration of the time for appealing this Order, or (ii) in the event this Order is appealed, 30 days after the final resolution of the appeal:





Abanco Investments, Ltd.


American Bible Society


Associated Sulpicians of the U. S. Inc.


A.W. Jones Company


George M. Bard


Small Cap Fund LP


Michael J. Batza, Jr.


Patricia K. Batza


Batza 1980 Trust


Margaret M. Bloom


Bowen Family Partnership


Walter & Margaret Brewster


Margaret Brewster


Walter Brewster


The Bunting Family II Limited Liability


Kimberly H. Cashman


Cavanaugh Investment L. P.


Chesapeake Bay Foundation


Children's Hospital of Philadelphia


Corporation of Roman Catholic Clergymen


Kathleen D. Solomon


Sharon D. Love


Deborah D. McChesney


Anne D. Langhoff


Donner Canadian Foundation


William H. Donner Foundation, Inc.


Duke U. Employees' Retirement Plan


Duke Management/Long Term Pool


Edward K. Dunn, Jr. IRA FCC as Custodian


Camilla M. Eagan


Charles C. Fenwick, Sr. Revocable Trust


Field Equity Partners


Richard B. Fisher


First Quadrant Investor's LP


Free State Investment Syndicate, LLP


Gap, Inc.


Leonie Labrot Gately Revocable Trust


Gilman School, Inc.


Jeffrey K. Gonya, Trustee, Irrevocable Trust Agreement of Elizabeth W. Glascock dated 3/10/94


The Proprietors of Green Mount Cemetery


Benjamin Griswold, III


Griswold Family Trust Investment Partnership


Katherine H. Peters


Martha Head Revocable Trust


Martha Head Trust


Hillview Alpha Fund


Joan McH. Hoblitzell


D. Luke HopkinsTrust


Fitzgerald Hudson/Hudson Group Partnership


William S. Jeffries


Johns Hopkins Hospital Endowment


J.M.I. 1992 L.P.


Katherine M. Jones


Natalie W. Keenan


Patricia Keesee


Michael Kernan


Katherine Kernan


Frances Kernan


Carl W. Knobloch, Jr. 8/25/69 Trust


Lawrenceville School


Peter O. Lawson-Johnston


John & Nancy Leahy


Linehan 1982 Children's Trust fbo Brendan Linehan


Lineham 1982 Children's Trust fbo Charles Linehan


Lineham 1982 Children's Trust fbo John Linehan


Earl L. Linehan


Lipitz Family LP


Lipitz Family Limited Partnership


Ocean Assets LLC


Suzanne F. and John A. Luetkemeyer


Benedict P. Macrory


Cecily E. Macrory


Lucinda M. Weatherby


Maud D. Macrory


Marianist Province of the U.S.


Joan C. Martin


L. Lowry Mays


Charlton M. McLean


McLean Rev. Tr. Custody Combined


The Memorial Foundation, Inc.


Robert E. Meyerhoff


Jane B. Meyerhoff


Meyerhoff Trusts


Meyerhoff Charitable Income Trust


Hon. Anthony T.S. Montagu


The NCM Business Trust


William S. Paley Foundation, Inc.


William S. Paley Foundation, Inc. William S. Paley Foundation Museum Fund


William S. Paley Foundation, Inc. William S. Paley Foundation Park Fund


Piper Marbury Rudnick & Wolfe LLP Profit Sharing and 401(k) Savings Plan, Bank of Oklahoma, N.A., Trustee


Mary C. Pitt Trust


P&M Nevis Limited Partnership


The Price Irrevocable Trust


Arnold Richman


Richman 1986 Children's Trust fbo Cara Michelle Richman


Richman 1986 Children's Trust fbo Lauri Gale Richman


Richman 1986 Children's Trust fbo Katherine Stephanie Richman


T. T. Semans, Jr.


Slade, Inc.


C. Van Leuven Stewart


St. Mary's Seminary/University


R.E.S. III, F.S.M., C.W.T. Jr. TTEE U/W RES, Jr. fbo RES III


A. Herman Stump, Jr.


Tennis Capital Inc


Transylvania University


United States Golf Assoc. Golf House


Wetzel & Lanzi


P. B. Weymouth, III


Nancy Brewster White Trust


Wit's End Partnership


Woodbourne LLLP c/o Pierce B. Dunn, GP


James B. Wyeth


Phyllis M. Wyeth


The Earl of Yarborough




Royston Mueller McLean & Reid


Mr. Sheldon Katz


Ann K. Macrory


Mrs. Eliza M. Gowen


Charles H. Mellon, IV


Margaret M. McLean


Helen M. & F. Michael Heller


Dr. Jay T. Last


Mr. Chadwick H. Carpenter


Joseph Ramsey Martin Jr, Revocable Trust


Bowen Family Partnership


Mary E. Clay


Johnson C. Clay


Brutus J. Clay, III


James E. Clay


Catesby W. Clay, Jr.


Amelia F. Clay


Katherine E. Clay


Catesby W. Clay


Jay M. Wilson


C. T. Fuller


Ava F. Roosevelt Revocable Trust U/A/D 6/29/94


Keyser Family Trust


The Field Company, LLC


Mr. Robert J. Doub


Mr. Alexander Wilmerding


Florence S. Mc Donough Trust


D. Lucas McDonough


Katherine McDonough


Frank & Sunny Adams - Tenants by the Entireties


Michael L. McDonough


Robert Bland Smith as Trustee for Winthrop Benbury Bland Smith Under the District of Columbia Uniform Gifts to Minors Act


Mrs. O. Donaldson Chapoton


Peter O. Crisp


Emily R. Crisp


Tina C. Miller


Ms. Wendy C. Henderson


Ann C. von Stade


Grayce B. Kerr Fund


James A. Eiting


Mr. Charles L. Lea, Jr.


O. Donaldson Chapoton IRA


Eric J. Gleacher


The KDB Family LLC


The Crisp Family Trust




Tennis Capital


Morgan Bartolini


William M. Bartolini

$ 426.69

Mr & Mrs. Donaldson Chapoton

$ 2,050.63

Mr. Robert Feitler

$ 4,428.99

Mrs. Rose Ellen Greene

$ 1,565.15

Stefan A. Halper

$ 861.89

Gramma Fisher Foundation

$ 4,428.99

Mr. Mark T. Massey

$ 3,490.73

Mr. Neil A. Meyerhoff

$ 2,878.84

David M. Weekley

$ 3,900.60

RWW Family Partnership, Ltd.


Weyanoke L. P.

$ 7,801.19

Jon Price - The AB IV LLC

$ 3,994.06

D'Anna Grandchild Trust

$ 4,428.99

For the Commission, by its Secretary, pursuant to delegated authority.

Margaret H. McFarland
Deputy Secretary


1 Distributions reflected in this Order may appear to be at slight variance with those set forth in the Plan because: (a) a number of the Nevis Capital account holders had/have restricted accounts and, thus, are/were ineligible to participate in IPO investments and, as such, these individuals/accounts were not eligible claimants under the terms of the Plan; (b) certain entities which were accountholders have since been dissolved and, therefore, this Order reflects distributions to be made to the legal successors to those entities; and (c) the names of certain accountholders have been corrected.


Modified: 07/12/2004