13F-HR 1 g82147f5e13fvhr.txt OTTER CREEK MANAGEMENT, INC.-12/31/2002 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 12-31-02 Check here if Amendment [X]; Amendment Number: 4 This Amendment (Check only one): [X] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Otter Creek Management, Inc. Address: 400 Royal Palm Way Suite 212 Palm Beach, FL 33480 Form 13F File Number: 28-10442 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Joseph W. O'Neill, Jr. Title: Chief Financial Officer Phone: 561-832-4110 Signature, Place, and Date of Signing: /s/ J. W. O'Neill, Jr. Palm Beach, FL 4-14-03 ------------------------ ---------------------- ------------ [Signature] [City, State] [Date]
Report Type (Check only one): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: [If there are no entries in this list, omit this section.] Form 13F File Number Name ------------------- --------------------------------- [Repeat as necessary.]
FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 ----------- Form 13F Information Table Entry Total: 112 ----------- Form 13F Information Table Value Total: 174,880 ----------- (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. [If there are no entries in this list, state "NONE" and omit the column headings and list entries.] No. Form 13F File Number Name 28-10442 NONE ---- ------------------- --------------------------------- [Repeat as necessary.]
Otter Creek Management PORTFOLIO APPRAISAL 31-Dec-02 FOR M 13F SUMMARY PAGE Report Summary: Number of other Included Managers: -- Form 13F Information Table Entry Total: 112 Form 13F Information Table Value Total: 174,880 FORM 13F INFORMATION TABLE
VALUE SHARES/ NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT ------------------------------------------------------------------------------------------------------------------------------------ ACCEPTANCE INSURANCE COMPANIES INC COMMON STOCK 004308102 -- 15,200 ACTIVISION INC NEW COMMON STOCK 004930202 657 45,000 ADAPTEC INC CONV SUB NOTES CONVERTIBLE BONDS 00651fac2 1,657 1,726,000 ADELPHIA COMMUNICATIONS CORP SR NTS 9.25% 10/01/2049 DEFAULTED CORPORATE BONDS 006848as4 1,203 3,250,000 ADELPHIA COMMUNICATIONS CORP SR NTS SER-B 7.75% 01/15/2009 DEFAULTED CORPORATE BONDS 006848bc8 370 1,000,000 ADELPHIA COMMUNICATIONS CP SENIOR NOTES 9.375% 11/15/2009 DEFAULTED CORPORATE BONDS 006848be4 385 1,000,000 ADELPHIA COMMUNICATIONS SENIOR NOTES 10.875% 10/01/2010 DEFAULTED CORPORATE BONDS 006848bf1 1,254 3,300,000 ALBANY MOLECULAR RESH INC COM COMMON STOCK 012423109 296 20,000 AMAZON COM INC CONV SUB NTS CONVERTIBLE BONDS 023135af3 2,201 3,000,000 AMERICAN INTL GROUP CONVERTIBLE BONDS 026874an7 656 700,000 APPLE COMPUTER INC COMMON STOCK 037833100 387 27,000 APPLE COMPUTER INC6.500% 02/15/2004 CORPORATE BONDS 037833AA8 1,530 1,500,000 APPLIED FILMS CORP COM COMMON STOCK 038197109 2,722 136,166 ARBOR SOFTWARE CORP SUB NOTE CONV CONVERTIBLE BONDS 038918ac2 58 59,000 ASCENTIAL SOFTWARE CORP COMMON STOCK 04362p108 72 30,000 ATMEL CORP SUB DEB CONV 0% ZERO CPN CONVERTIBLE BONDS 049513ac8 1,053 2,500,000 AVIRON CONV SUB NT CONVERTIBLE BONDS 053762ad2 993 1,000,000 BANK OF CAROLINAS MOCKSVILLE NORTH CAROLIN COMMON STOCK 06423t102 253 21,625 BANKATLANTIC BANCORP INC CONV SUB DEBS CONVERTIBLE BONDS 065908ac9 499 480,000 BEI TECHNOLOGIES INC COMMON STOCK 05538p104 112 10,000 BELL ATLANTIC FINANCIAL SERVICES INC SENIOR NOTE EXCHANGEABL CONVERTIBLE BONDS 07785gad2 2,521 2,500,000 BENTON OIL & GAS CO SR NTS9.375% 11/01/2007 DD 11/03/97 CORPORATE BONDS 083288AE0 2,225 2,500,000 BIOMET INC COMMON STOCK 090613100 344 12,000 BROCADE COMMUNICATIONS SYSTEM INC CONV SUB NOTE CONVERTIBLE BONDS 111621ab4 1,262 1,800,000 BROOKS AUTOMATION INC NT CONV4.750% 06/01/2008 DD 05/23/01 CONVERTIBLE BONDS 11434AAB6 3,241 4,425,000 BURLINGTON RES INC COM COMMON STOCK 122014103 10,193 239,000 CABLE & WIRELESS CWLN 0% 06/09/03 REG-S CONVERTIBLE BONDS g17416af8 1,418 1,500,000 CABLE & WIRELESS PLC SPONSORED ADR AMERICAN DEPOSITORY RECEIPTS 126830207 377 162,000 CENUCO INC COMMON STOCK 15670x104 22 15,000 CIENA CORP NT CVT3.750% 02/01/2008 DD 02/09/01 CONVERTIBLE BONDS 171779AA9 5,101 7,340,000 CITIZENS BANKING CORP COMMON STOCK 174420109 496 20,000 COMPUTER ASSOCIATE INT INC SR NOTE CORPORATE BONDS 204912ae9 698 700,000 CORNING CVTZEROCPN 11/08/2015 DD 11/08/00 CONVERTIBLE BONDS 219350AJ4 8,260 14,750,000 CROSS COUNTRY INC COMMON STOCK 22748p105 140 10,000 DELPHI CORP COMMON STOCK 247126105 81 10,000 DEVON ENERGY COR SR DEB CONVZEROCPN 06/27/2020 DD 12/01/00 CONVERTIBLE BONDS 25179MAD5 8,275 15,799,000 DIAMOND OFFSHORE DRILLING INC DEB ZERO CPN CONVERTIBLE BONDS 25271cac6 2,170 4,000,000 DRUGSTORE COM INC COM COMMON STOCK 262241102 626 261,040 EMPIRE FEDERAL BANCORP INC COMMON STOCK 291657104 416 21,847 ENERGY FACTORS CV S/D-REG CONVERTIBLE BONDS 292667ab8 260 400,000 EXPRESS SCRIPTS INC COMMON COMMON STOCK 302182100 240 5,000 EXTREME NETWORKS CVT 144A3.500% 12/01/2006 DD 12/05/01 CONVERTIBLE BONDS 30226DAA4 486 650,000 EXTREME NETWORKS INC NT CVT3.500% 12/01/2006 DD 12/05/01 CONVERTIBLE BONDS 30226DAB2 4,485 6,000,000 FINANCIAL INDS CORP COMMON STOCK 317574101 2,167 152,200 FLEXTRONICS INTERNATIONAL LTD COMMON STOCK y2573f102 115 14,000 FLOW INTL INC COMMON STOCK 343468104 1,366 535,622 FREEPORT MCMORAN COPPER & GOLD INC-DEP SHS PREFERRED STOCK 35671d600 1,805 55,100 FREEPORT-MCMORAN COPPER & GOLDDEP SH REP 0 CONVERTIBLE PREFERRED 35671D501 1,503 77,300 FSI INTL INC COMMON STOCK 302633102 835 185,500 GATX CORP COM COMMON STOCK 361448103 297 13,000 GENERAL MOTORS ACCEP CORP NOTE GLOBAL CORPORATE BONDS 370425qr4 2,004 2,000,000 GENERAL MOTORS CORP-CL H NEW COMMON STOCK 370442832 268 25,000 GREAT LAKES CHEMICAL CORP COMMON STOCK 390568103 478 20,000 HEXCEL CORP NEW CONV SUB NOTES CONVERTIBLE BONDS 428291aa6 3,752 3,829,000 INFOCUS CORP COM COMMON STOCK 45665B106 2,805 455,400 INTERNAP NETWORK SVCS CORP COM COMMON STOCK 45885A102 290 784,900 INTERNATIONAL RECTIFIER CORP4.250% 07/15/2007 DD 07/19/00 CONVERTIBLE BONDS 460254AE5 6,232 7,300,000 J C PENNEY COMPANY INC CONV SUB NOTES 144A CONVERTIBLE BONDS 708160bu9 1,066 1,000,000 KERR MCGEE CORP DECS % EXCHANGEABLE INTO C PREFERRED STOCK 492386305 2,482 58,000 LEHMAN BROTHERS HOLDINGS INC COMMON STOCK 524908100 464 8,700 LONE STAR TECH INC SR SUB NT9.000% 06/01/2011 DD 05/29/01 CORPORATE BONDS 542312AB9 396 430,000 LSB FINANCIAL CORP COMMON STOCK 501925101 302 15,500 MAGNETEK INC COMMON STOCK 559424106 82 18,400 MAVERICK TUBE CORP COM COMMON STOCK 577914104 2,839 217,900 MERCURY INTERACTIVE CORP SUB NT CONV CONVERTIBLE BONDS 589405ab5 1,750 1,950,000 MONROE BANCORP-IND COMMON STOCK 610313108 550 40,400 MOTOROLA INC SUB LIQUID YLD OPT NOTE ZERO CONVERTIBLE BONDS 620076aj8 5,560 7,316,000 NATIONAL SEMICONDUCTOR CORPCOM COMMON STOCK 637640103 450 30,000 NATIONAL-OILWELL INC COMMON STOCK 637071101 1,856 85,000 NUANCE COMMUNICATIONS INC COMMON STOCK 669967101 50 20,000 OAK INDUSTRIES INC SUB CONV NTS CONVERTIBLE BONDS 671400al3 815 1,353,000 OFFICE DEPOT INC COMMON STOCK 676220106 148 10,000 ONI SYS CORP CVT SUB NT5.000% 10/15/2005 DD 10/27/00 CONVERTIBLE BONDS 68273FAA1 9,450 10,500,000 PANAMSAT CORP NEW COMMON STOCK 697933109 220 15,000 PANAMSAT CORP NEW NOTE 6.125% 01/15/05 CORPORATE BONDS 697933ak5 194 200,000 PANAMSAT CORP NEW NOTE 6.375% 01/15/08 CORPORATE BONDS 697933al3 960 1,000,000 PANAMSAT CORP NEW SENIOR NOTE 8.5% 02/01/12 CORPORATE BONDS 697933ap4 478 500,000 PANAMSAT CORP NT CORPORATE BONDS 697933aj8 135 135,000 PARK ELECTROCHEMICAL COM COMMON STOCK 700416209 480 25,000 PC-TEL INC COM COMMON STOCK 69325Q105 1,572 231,800 PETROCORP INC COMMON STOCK 71645N101 6,006 585,930 Progress Energy-CONT. VALUE OBLIG. COMMON STOCK cplvz 44 337,000 PSB HOLDINGS INC-WISC COMMON STOCK 69360n108 714 32,000 QUANTUM CORP CONV SUB NOTE CONVERTIBLE BONDS 747906ac9 4,450 5,028,000 RATIONAL SOFTWARE CORP CONV SUB NOTE CONVERTIBLE BONDS 75409pac7 5,617 5,500,000 RIVERSTONE NETWORK INC CONV SUB NOTE 144A CONVERTIBLE BONDS 769320aa0 337 500,000 SCANA CORP MEDIUM TERM NOTE SER-B CORPORATE BONDS 805901ag0 3,338 3,335,000 SEABULK INTL INC COM COMMON STOCK 81169P101 927 167,600 SHAW GROUP INC LIQUID YIELD OPT NT 144A CONVERTIBLE BONDS 820280aa3 802 1,400,000 SIEBEL SYSTEMS INC CONV SUB NOTES CONVERTIBLE BONDS 826170ac6 5,528 5,714,000 SIGNAL TECHNOLOGY CORP COMMON STOCK 826675100 617 57,200 SMITHFIELD FOODS INC COMMON STOCK 832248108 397 20,000 SOLECTRON CORP SR LIQUID YIELD OPT NTE CONVERTIBLE BONDS 834182ak3 226 368,000 SOUTHWALL TECHNOLOGIES INC COMMON STOCK 844909101 63 20,000 SOUTHWEST GAS CORP COM COMMON STOCK 844895102 3,250 138,600 SPORTS AUTHORITY INC COMMON STOCK 849176102 91 13,000 STANDARD & POORS DEPOSITARY RECEIPTS (SPDR COMMON STOCK 78462f103 265 3,000 STANDARD MOTOR PRODUCTS INC SUB DEB CONV CONVERTIBLE BONDS 853666ab1 756 1,000,000 STEWART ENTERPRISES INC REMARKABLE OR REDEEM SECS (ROARS) CORPORATE BONDS 860370ab1 447 447,000 STONE ENERGY CORP COMMON STOCK 861642106 600 18,000 SUN MICROSYSTEMS INC COM COMMON STOCK 866810104 653 210,000 SUPERVALU INC COMMON STOCK 868536103 165 10,000 SYPRIS SOLUTIONS INC COMMON STOCK 871655106 357 35,000 THERMAWAVE INC COM COMMON STOCK 88343A108 346 329,300 THREE-FIVE SYS INC COMMON STOCK 88554L108 3,938 610,600 TIVO INC COMMON STOCK 888706108 52 10,000 TRIMBLE NAV LTD COMMON STOCK 896239100 4,436 355,200 TRIQUINT SEMICONDUCTOR INC CONV SUB NOTE REGD CONVERTIBLE BONDS 89674kab9 3,087 3,990,000 USF&G CORP SUB CONV NT ZERO CPN CONVERTIBLE BONDS 903290ad6 774 1,000,000 VESTA INS GROUP INC COM COMMON STOCK 92591104 241 87,500 WATCHGUARD TECHNOLOGIES INC COMMON STOCK 941105108 413 64,700 WESTAIM CORP COM COMMON STOCK 956909105 32 28,800 SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER PRN CALL DSCRETN MANAGERS SOLE SHARED ---------------------------------------------------------------------------------------------------------------------------------- ACCEPTANCE INSURANCE COMPANIES INC SH SOLE 15,200 ACTIVISION INC NEW SH SOLE 45,000 ADAPTEC INC CONV SUB NOTES PRN SOLE 1,726,000 ADELPHIA COMMUNICATIONS CORP SR NTS 9.25% 10/01/2049 PRN SOLE 3,250,000 ADELPHIA COMMUNICATIONS CORP SR NTS SER-B 7.75% 01/15/2009 PRN SOLE 1,000,000 ADELPHIA COMMUNICATIONS CP SENIOR NOTES 9.375% 11/15/2009 PRN SOLE 1,000,000 ADELPHIA COMMUNICATIONS SENIOR NOTES 10.875% 10/01/2010 PRN SOLE 3,300,000 ALBANY MOLECULAR RESH INC COM SH SOLE 20,000 AMAZON COM INC CONV SUB NTS PRN SOLE 3,000,000 AMERICAN INTL GROUP PRN SOLE 700,000 APPLE COMPUTER INC SH SOLE 27,000 APPLE COMPUTER INC6.500% 02/15/2004 PRN SOLE 1,500,000 APPLIED FILMS CORP COM SH SOLE 136,166 ARBOR SOFTWARE CORP SUB NOTE CONV PRN SOLE 59,000 ASCENTIAL SOFTWARE CORP SH SOLE 30,000 ATMEL CORP SUB DEB CONV 0% ZERO CPN PRN SOLE 2,500,000 AVIRON CONV SUB NT PRN SOLE 1,000,000 BANK OF CAROLINAS MOCKSVILLE NORTH CAROLIN SH SOLE 21,625 BANKATLANTIC BANCORP INC CONV SUB DEBS PRN SOLE 480,000 BEI TECHNOLOGIES INC SH SOLE 10,000 BELL ATLANTIC FINANCIAL SERVICES INC SENIOR NOTE EXCHANGEABL PRN SOLE 2,500,000 BENTON OIL & GAS CO SR NTS9.375% 11/01/2007 DD 11/03/97 PRN SOLE 2,500,000 BIOMET INC SH SOLE 12,000 BROCADE COMMUNICATIONS SYSTEM INC CONV SUB NOTE PRN SOLE 1,800,000 BROOKS AUTOMATION INC NT CONV4.750% 06/01/2008 DD 05/23/01 PRN SOLE 4,425,000 BURLINGTON RES INC COM SH SOLE 239,000 CABLE & WIRELESS CWLN 0% 06/09/03 REG-S PRN SOLE 1,500,000 CABLE & WIRELESS PLC SPONSORED ADR SH SOLE 162,000 CENUCO INC SH SOLE 15,000 CIENA CORP NT CVT3.750% 02/01/2008 DD 02/09/01 PRN SOLE 7,340,000 CITIZENS BANKING CORP SH SOLE 20,000 COMPUTER ASSOCIATE INT INC SR NOTE PRN SOLE 700,000 CORNING CVTZEROCPN 11/08/2015 DD 11/08/00 PRN SOLE 14,750,000 CROSS COUNTRY INC SH SOLE 10,000 DELPHI CORP SH SOLE 10,000 DEVON ENERGY COR SR DEB CONVZEROCPN 06/27/2020 DD 12/01/00 PRN SOLE 15,799,000 DIAMOND OFFSHORE DRILLING INC DEB ZERO CPN PRN SOLE 4,000,000 DRUGSTORE COM INC COM SH SOLE 261,040 EMPIRE FEDERAL BANCORP INC SH SOLE 21,847 ENERGY FACTORS CV S/D-REG PRN SOLE 400,000 EXPRESS SCRIPTS INC COMMON SH SOLE 5,000 EXTREME NETWORKS CVT 144A3.500% 12/01/2006 DD 12/05/01 PRN SOLE 650,000 EXTREME NETWORKS INC NT CVT3.500% 12/01/2006 DD 12/05/01 PRN SOLE 6,000,000 FINANCIAL INDS CORP SH SOLE 152,200 FLEXTRONICS INTERNATIONAL LTD SH SOLE 14,000 FLOW INTL INC SH SOLE 535,622 FREEPORT MCMORAN COPPER & GOLD INC-DEP SHS SH SOLE 55,100 FREEPORT-MCMORAN COPPER & GOLDDEP SH REP 0 SH SOLE 77,300 FSI INTL INC SH SOLE 185,500 GATX CORP COM SH SOLE 13,000 GENERAL MOTORS ACCEP CORP NOTE GLOBAL PRN SOLE 2,000,000 GENERAL MOTORS CORP-CL H NEW SH SOLE 25,000 GREAT LAKES CHEMICAL CORP SH SOLE 20,000 HEXCEL CORP NEW CONV SUB NOTES PRN SOLE 3,829,000 INFOCUS CORP COM SH SOLE 455,400 INTERNAP NETWORK SVCS CORP COM SH SOLE 784,900 INTERNATIONAL RECTIFIER CORP4.250% 07/15/2007 DD 07/19/00 PRN SOLE 7,300,000 J C PENNEY COMPANY INC CONV SUB NOTES 144A PRN SOLE 1,000,000 KERR MCGEE CORP DECS % EXCHANGEABLE INTO C SH SOLE 58,000 LEHMAN BROTHERS HOLDINGS INC SH SOLE 8,700 LONE STAR TECH INC SR SUB NT9.000% 06/01/2011 DD 05/29/01 PRN SOLE 430,000 LSB FINANCIAL CORP SH SOLE 15,500 MAGNETEK INC SH SOLE 18,400 MAVERICK TUBE CORP COM SH SOLE 217,900 MERCURY INTERACTIVE CORP SUB NT CONV PRN SOLE 1,950,000 MONROE BANCORP-IND SH SOLE 40,400 MOTOROLA INC SUB LIQUID YLD OPT NOTE ZERO PRN SOLE 7,316,000 NATIONAL SEMICONDUCTOR CORPCOM SH SOLE 30,000 NATIONAL-OILWELL INC SH SOLE 85,000 NUANCE COMMUNICATIONS INC SH SOLE 20,000 OAK INDUSTRIES INC SUB CONV NTS PRN SOLE 1,353,000 OFFICE DEPOT INC SH SOLE 10,000 ONI SYS CORP CVT SUB NT5.000% 10/15/2005 DD 10/27/00 PRN SOLE 10,500,000 PANAMSAT CORP NEW SH SOLE 15,000 PANAMSAT CORP NEW NOTE 6.125% 01/15/05 PRN SOLE 200,000 PANAMSAT CORP NEW NOTE 6.375% 01/15/08 PRN SOLE 1,000,000 PANAMSAT CORP NEW SENIOR NOTE 8.5% 02/01/12 PRN SOLE 500,000 PANAMSAT CORP NT PRN SOLE 135,000 PARK ELECTROCHEMICAL COM SH SOLE 25,000 PC-TEL INC COM SH SOLE 231,800 PETROCORP INC SH SOLE 585,930 Progress Energy-CONT. VALUE OBLIG. SH SOLE 337,000 PSB HOLDINGS INC-WISC SH SOLE 32,000 QUANTUM CORP CONV SUB NOTE PRN SOLE 5,028,000 RATIONAL SOFTWARE CORP CONV SUB NOTE PRN SOLE 5,500,000 RIVERSTONE NETWORK INC CONV SUB NOTE 144A PRN SOLE 500,000 SCANA CORP MEDIUM TERM NOTE SER-B PRN SOLE 3,335,000 SEABULK INTL INC COM SH SOLE 167,600 SHAW GROUP INC LIQUID YIELD OPT NT 144A PRN SOLE 1,400,000 SIEBEL SYSTEMS INC CONV SUB NOTES PRN SOLE 5,714,000 SIGNAL TECHNOLOGY CORP SH SOLE 57,200 SMITHFIELD FOODS INC SH SOLE 20,000 SOLECTRON CORP SR LIQUID YIELD OPT NTE PRN SOLE 368,000 SOUTHWALL TECHNOLOGIES INC SH SOLE 20,000 SOUTHWEST GAS CORP COM SH SOLE 138,600 SPORTS AUTHORITY INC SH SOLE 13,000 STANDARD & POORS DEPOSITARY RECEIPTS (SPDR SH SOLE 3,000 STANDARD MOTOR PRODUCTS INC SUB DEB CONV PRN SOLE 1,000,000 STEWART ENTERPRISES INC REMARKABLE OR REDEEM SECS (ROARS) PRN SOLE 447,000 STONE ENERGY CORP SH SOLE 18,000 SUN MICROSYSTEMS INC COM SH SOLE 210,000 SUPERVALU INC SH SOLE 10,000 SYPRIS SOLUTIONS INC SH SOLE 35,000 THERMAWAVE INC COM SH SOLE 329,300 THREE-FIVE SYS INC SH SOLE 610,600 TIVO INC SH SOLE 10,000 TRIMBLE NAV LTD SH SOLE 355,200 TRIQUINT SEMICONDUCTOR INC CONV SUB NOTE REGD PRN SOLE 3,990,000 USF&G CORP SUB CONV NT ZERO CPN PRN SOLE 1,000,000 VESTA INS GROUP INC COM SH SOLE 87,500 WATCHGUARD TECHNOLOGIES INC SH SOLE 64,700 WESTAIM CORP COM SH SOLE 28,800