SC 13D/A 1 y28132asc13dza.txt AMENDMENT #3 TO SCHEDULE 13D SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D UNDER THE SECURITIES EXCHANGE ACT OF 1934 AMENDMENT NO. 3 ---------- CALIFORNIA COASTAL COMMUNITIES INC. (NAME OF ISSUER) COMMON STOCK (TITLE OF CLASS OF SECURITIES) 129915203 (CUSIP NUMBER) FURSA ALTERNATIVE STRATEGIES LLC 200 PARK AVENUE, 54TH FLOOR NEW YORK, NY 10166-3399 (212) 922-8200 (NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS) DECEMBER 15, 2006 (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 Rule 13d-1(e), 13d-1(f) or 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 Rule 13d-7(b) 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 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 5 CUSIP No. 129915203 -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only) Fursa Alternative Strategies LLC -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ] -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware -------------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 915,366 -------------------------------------------------------------------------------- 8 SHARED VOTING POWER 0 -------------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 915,366 -------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON 915,366 ------------------------------------------------------------------------------- 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) 8.4% ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (see Instructions) IA ------------------------------------------------------------------------------- Page 2 of 5 INTRODUCTION: Mellon HBV Alternative Strategies LLC is filing this Amendment No. 3 to Schedule 13D to disclose (i) that, pursuant to the sale of Mellon HBV Alternative Strategies to Mickey Harley, its chief executive officer, the name of Mellon HBV Alternative Strategies has changed to Fursa Alternative Strategies LLC (the "Reporting Person"), (ii) that the Reporting Person currently holds no actionable intent with regard to influence or change of control of the California Coastal Communities, Inc. (the "Issuer") and (iii) recent transactions of the Reporting Person in Issuer's securities. The Reporting Person retains the right, for itself and for affiliated investment funds and separately managed accounts over which it exercises discretionary authority, to continue to acquire or dispose of securities of the Issuer. ITEM 2. IDENTITY AND BACKGROUND (a) Fursa Alternative Strategies LLC (b) The Reporting Person is a Delaware limited liability company with its principal executive offices located at 200 Park Avenue, 54th Floor, New York, NY 10166-3399. (c) The Reporting Person is a registered investment adviser under the Investment Adviser Act of 1940. The Reporting Person exercises discretionary control on behalf of affiliated investment funds and separately managed accounts with respect to the Company's Shares, and may be deemed the beneficial owner of such shares. (d, e) During the last five years neither the Reporting Person, nor, to the best of its knowledge, any of its directors or executive officers, has been (i) convicted of any criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or 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) The Reporting Person is organized under the laws of Delaware. ITEM 4. PURPOSE OF TRANSACTION. The discussion under the heading Introduction above is incorporated herein by reference. ITEM 5. INTEREST IN SECURITIES OF ISSUER (a) As of December 15, 2006, funds affiliated with the Reporting Person and separately managed accounts over which it exercises discretionary authority beneficially own 915,366 shares of the Company's Common Stock, representing approximately 8.4% of the outstanding Common Stock (based on 10,852,708 shares outstanding as disclosed by the Company in its Form 10-Q for the period ended September 30, 2006 and filed with the Commission on November 9, 2006). Page 3 of 5 (c) The table below sets forth transactions in the Issuer's Common Stock that the Reporting Person effected during the past sixty (60) days relating to the Issuer. Each transaction set forth below is a sale. Page 4 of 5
TRADE DATE ACTION QUANTITY PRICE ---------- ------ -------- --------- 10/19/2006 Sell 900 19.605888 10/24/2006 Sell 100 19.49 10/25/2006 Sell 7400 19.678783 10/26/2006 Sell 1000 19.664 10/27/2006 Sell 10000 19.6377 10/30/2006 Sell 2400 19.742916 11/1/2006 Sell 500 19.9513 11/1/2006 Sell 571 19.9513 11/15/2006 Sell 4200 18.426885 11/16/2006 Sell 2300 18.576508 11/17/2006 Sell 4000 18.71225 11/21/2006 Sell 6000 18.782666 11/29/2006 Sell 2600 20.552307 11/30/2006 Sell 4300 20.816279 12/1/2006 Sell 3131 20.974449 12/4/2006 Sell 1200 20.768333 12/5/2006 Sell 20000 21.2748 12/6/2006 Sell 5700 21.239894 12/12/2006 Sell 1000 20.98 12/13/2006 Sell 11100 21.30
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. Dated: December 18, 2006 Fursa Alternative Strategies LLC By: /s/ William F. Harley III --------------------------------- William F. Harley III Chief Investment Officer Page 5 of 5