-----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, SXcp7Tqw+BcZSJ8nrca0BgKHYZD3YDJsWcCXtKqtFKirPM1DL/AxPe1xZRk3+wxy H13v0fM4tR+lq5d75Z64bA== 0000769317-05-000023.txt : 20050525 0000769317-05-000023.hdr.sgml : 20050525 20050525155801 ACCESSION NUMBER: 0000769317-05-000023 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20050525 DATE AS OF CHANGE: 20050525 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: OPPENHEIMER MULTI SECTOR INCOME TRUST CENTRAL INDEX KEY: 0000829801 IRS NUMBER: 133448960 STATE OF INCORPORATION: MA FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-80194 FILM NUMBER: 05856939 BUSINESS ADDRESS: STREET 1: 6803 SOUTH TUCSON WAY STREET 2: N/A CITY: CENTENNIAL STATE: CO ZIP: 80112-3924 BUSINESS PHONE: 303-768-3200 MAIL ADDRESS: STREET 1: 6803 SOUTH TUCSON WAY STREET 2: N/A CITY: CENTENNIAL STATE: CO ZIP: 80112-3924 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SIT INVESTMENT ASSOCIATES INC CENTRAL INDEX KEY: 0000769317 IRS NUMBER: 411404829 STATE OF INCORPORATION: MN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 4600 NORWEST CENTER STREET 2: 90 SOUTH SEVENTH STREET CITY: MINNEAPOLIS STATE: MN ZIP: 55402 BUSINESS PHONE: 6123323223 MAIL ADDRESS: STREET 1: 4600 NORWEST CENTER STREET 2: 90 SOUTH SEVENTH STREET CITY: MINNEAPOLIS STATE: MN ZIP: 55402 SC 13D/A 1 oms13d52505.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 4) Oppenheimer Multi-Sector Income Trust, Inc. (OMS) - - ----------------------------------------------------------------------------- (Name of Issuer) Common Stock - - ----------------------------------------------------------------------------- (Title of Class of Securities) 683933105 - - ----------------------------------------------------------------------------- (CUSIP Number) Paul E. Rasmussen 3300 IDS Center 80 South Eighth Street Minneapolis, MN 55402-4130 - - ----------------------------------------------------------------------------- (Name, Address, and Telephone Number of Person Authorized to Receive Notices and Communications) May 25, 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 which is the subject of this Schedule 13D, and is filing this schedule because of sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. [ ] * 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 an 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. Page 1 of 5 CUSIP No. 683933105 - - ----------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). Sit Investment Associates, Inc. IRS Identification No. 41-1404829 See Exhibit 1 for schedule of affiliated entities. - - ----------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See instructions) (a) [ ] (b) [x] - - ----------------------------------------------------------------------------- 3 SEC USE ONLY - - ----------------------------------------------------------------------------- 4 SOURCE OF FUNDS* 00 Cash deposited in investment accounts regarding which Sit Investment Associates, Inc. and Sit Investment Fixed Income Advisors, Inc. have investment discretion. - - ----------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - - ----------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Incorporated in Minnesota - - ----------------------------------------------------------------------------- 7. SOLE VOTING POWER NUMBER OF 3,758,500 Shares SHARES ----------------------------------------------------------- BENEFICIALLY 8. SHARED VOTING POWER OWNED BY EACH ----------------------------------------------------------- REPORTING 9. SOLE DISPOSITIVE POWER PERSON WITH 3,758,500 Shares ----------------------------------------------------------- 10. SHARED DISPOSITIVE POWER - - ----------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICALLY OWNED BY EACH REPORTING PERSON 3,758,500 Shares - - ----------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See instructions) [ ] - - ----------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 12.86% - - ----------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See instructions) IA - - -------------------------------------------------------------------------- Page 2 of 5 ITEM 1 Security and Issuer Common Stock Oppenheimer Multi-Sector Income Trust, Inc. Oppenheimer Funds Two World Financial Center 225 Liberty Street New York, NY 10281-1008 ITEM 2 Identity and Background a) Sit Investment Associates, Inc. ("SIA") Eugene C. Sit, Chairman, CEO, and Chief Investment Officer Peter L. Mitchelson, President, Senior Investment Officer, and Director Michael C. Brilley, Sr. VP and Sr. Fixed Income Officer Roger J. Sit, Executive VP - Research & Investment Mgt. Paul E. Rasmussen, Vice President, Secretary Frederick R. Adler, Director Norman Bud Grossman, Director b) Incorporated in the State of Minnesota 3300 IDS Center, 80 South Eighth Street, Minneapolis, MN 55402 c) Investment Management d) None of the individuals listed above or SIA has been convicted during the last 5 years of any criminal proceeding (excluding traffic violations). e) During the last five years none of the individuals listed above or SIA has been a party to a civil proceeding as a result of which any of them is 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. f) Each of the individuals listed above is a United States citizen. ITEM 3 Source and Amount of Funds or Other Considerations 00 Cash deposited in investment accounts regarding which Sit Investment Associates, Inc. and Sit Investment Fixed Income Advisors, Inc. have investment discretion. ITEM 4 Purpose of Transaction Shares of the Issuer have been acquired and sold over a period of time beginning February 3, 2000, in the ordinary course of business as an investment manager for investment purposes. The shares of the Issuer have been trading at a significant discount to net asset value for much of the past several years. Sit Investment Associates, Inc. ("SIA") and its subsidiaries, Sit Investment Fixed Income Advisers, Inc. ("SIFIA"), and Sit Fixed Income Advisers II, LLC ("SFI") have determined that it is in the best interests of certain of their clients to seek to obtain the adoption of policies or strategies by the Issuer that would tend to reduce or eliminate the discount at which the shares of the Issuer will trade in the future, or that would otherwise enable shareholders to liquidate shares of the Issuer at the Issuer's net asset value. SIA, SIFIA and SFI otherwise do not seek to influence or control the management of the Issuer. SIA, SIFIA and SFI will continue to acquire and sell shares of the Issuer on behalf of its clients for investment purposes in the ordinary course of business and will vote such additionally acquired shares in favor of any proposal submitted to shareholders that satisfactorily meets the objectives discussed above. Page 3 of 5 ITEM 5 Interest in Securities of the Issuer a) As of May 25, 2005, Sit Investment Associates, Inc. ("SIA") and its affiliates own 3,758,500 shares that represents 12.86% of the outstanding Shares. None of the executive officers or directors of SIA owns any other shares.
Entity Shares Percentage ---------------- --------- --------- SIA (client accounts) 3,758,500 12.86% -------- ------- Total Owned by SIA and Affiliated Entities 3,758,500 12.86%
b) SIA has the sole power to vote and dispose of all of such shares. c) Shares have been sold and acquired since March 9, 2005 as previously reported. Transactions (all open market transactions) effected since March 9, 2005 ranged in price from $9.14 to $9.39. d) Client accounts have the right to receive all dividends from and any proceeds from the sale of the shares. None of the client accounts owns more than 5% of the shares outstanding. e) Not applicable ITEM 6 Contracts, Arrangements, Understandings, or Relationships with Respect to Securities of the Issuer Sit Investment Associates, Inc. or its affiliates has entered into investment management agreements with each of its clients pursuant to which Sit Investment Associates, Inc. or its affiliates has assumed the responsibility to vote on behalf of its clients all shares held by its clients in portfolios managed by Sit Investment Associates, Inc. and affiliates. ITEM 7 Materials to be Filed as Exhibits Not applicable. Page 4 of 5 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. - ------------------ May 25, 2005 Sit Investment Associates, Inc. By: /s/ Paul E. Rasmussen ----------------------------------- Name/Title: Paul E. Rasmussen, Vice President EXHIBIT 1 The Reporting Person. Sit Investment Associates, Inc. ("SIA") is an Investment Adviser registered under section 203 of the Investment Advisers Act of 1940. SIA has four subsidiaries, each of which are registered Investment Advisers: Sit Investment Fixed Income Advisors ("SIFIA") Sit Fixed Income Advisors II, LLC ("SFI") Sit/Kim International Investment Associates, Inc. Sit/Kim International Investment Associates II, LLC SIA is the Investment Advisor for thirteen mutual funds (the "Funds") which are comprised of seven registered investment companies, three of that consist of series funds as listed below. SIA has the voting power and dispositive power for all securities held in SIA client accounts and the following fourteen mutual funds. 1) Sit Mid Cap Growth Fund, Inc. 2) Sit Large Cap Growth Fund, Inc. 3) Sit U.S. Government Securities Fund, Inc. 4) Sit Money Market Fund, Inc. Sit Mutual Funds, Inc. 5) Sit International Growth Fund (series A) 6) Sit Balanced Fund (series B) 7) Sit Developing Markets Growth Fund (series C) 8) Sit Small Cap Growth fund (series D) 9) Sit Science and Technology Growth Fund (Series E) 10) Sit Dividend Growth Fund (Series G) Sit Mutual Funds II, Inc. 11) Sit Tax-Free Income Fund (series A) 12) Sit Minnesota Tax-Free Income Fund (series B) Sit Mutual Funds Trust 13) Sit Florida Tax-Free Income Fund (Series A) Of the affiliated entities indicated above, only SIA (client accounts), SIFIA (client accounts) and SFI (client accounts) beneficially owned shares of the Oppenheimer Multi-Sector Income Trust, Inc. common stock as of May 25, 2005. Page 5 of 5 -----END PRIVACY-ENHANCED MESSAGE-----