-----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, Ux69QbdmtiJ/Ef9QHOJhTXd2qqdol8hCarbZkm7SCMA74n9wNmHQ7W8eA3iygZpP 2vSM3aRJZ1G3HEE3LZc2lw== 0000935836-96-000042.txt : 19961203 0000935836-96-000042.hdr.sgml : 19961203 ACCESSION NUMBER: 0000935836-96-000042 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19961202 SROS: NYSE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: HUNTWAY PARTNERS L P CENTRAL INDEX KEY: 0000840335 STANDARD INDUSTRIAL CLASSIFICATION: PETROLEUM REFINING [2911] IRS NUMBER: 363601653 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-39982 FILM NUMBER: 96674750 BUSINESS ADDRESS: STREET 1: 25129 OLD RD STE 322 CITY: NEWHALL STATE: CA ZIP: 91381 BUSINESS PHONE: 8052541220 MAIL ADDRESS: STREET 1: PO BOX 7033 CITY: VAN NUYS STATE: CA ZIP: 91409 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: WESTCLIFF CAPITAL MANAGEMENT LLC /ADV CENTRAL INDEX KEY: 0001020960 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 770435868 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 200 7TH AVE STREET 2: STE 105 CITY: SANTA CRUZ STATE: CA ZIP: 95062 BUSINESS PHONE: 4084790422 FORMER COMPANY: FORMER CONFORMED NAME: WESTCLIFF CAPITAL MANAGEMENT LLC /ADV DATE OF NAME CHANGE: 19961121 SC 13D 1 OMB APPROVAL OMB Number:3235-0145 Expires:October 31, 1994 Estimated average burden hours per form 14.90 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. _) Huntway Partners, L.P. (Name of Issuer) Limited Partnership Units - --------------------------------------------------------------------------- (Title of Class of Securities) 447300104 (CUSIP Number) Christopher J. Rupright, Esq. Shartsis Friese & Ginsburg One Maritime Plaza, 18th Floor San Francisco, CA 94111 (415) 421-6500 - --------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) November 20, 1996 (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(b)(3) or (4), check the following box / /. Check the following box if a fee is being paid with the statement / /. (A fee is not required only if the reporting person: (1) has a previous statement on file reporting beneficial ownership of more than five percent of the class of securities described in Item 1; and (2) has filed no amendment subsequent thereto reporting beneficial ownership of five percent or less of such class.) (See Rule 13d-7.) Note: Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d-1(a) 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). SEC 1746 (12-91) SCHEDULE 13D CUSIP No. 447300104 Page 2 of 11 Pages - --------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON Westcliff Capital Management, LLC - --------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / X / (b) / / - --------------------------------------------------------------------------- 3 SEC USE ONLY - --------------------------------------------------------------------------- 4 SOURCE OF FUNDS* AF - --------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(E) / / - --------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION California - --------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES -0- BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 485,500 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH -0- -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 485,500 - --------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 485,500 - --------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - --------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.2 - --------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* OO and IA - --------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. SCHEDULE 13D CUSIP No. 447300104 Page 3 of 11 Pages - --------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON Richard S. Spencer III - --------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)/X / (b)/ / - --------------------------------------------------------------------------- 3 SEC USE ONLY - --------------------------------------------------------------------------- 4 SOURCE OF FUNDS* AF and PF - --------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(E) / / - --------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - --------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 124,400 BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 485,500 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 124,400 -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 485,500 - --------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 609,900 - --------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - --------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.3 - --------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - --------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. SCHEDULE 13D CUSIP No. 447300104 Page 4 of 11 Pages - --------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON David R. Korus - --------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X / (b) / / - --------------------------------------------------------------------------- 3 SEC USE ONLY - --------------------------------------------------------------------------- 4 SOURCE OF FUNDS* AF - --------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(E) / / - --------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION California - --------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES -0- BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 485,500 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH -0- -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 485,500 - --------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 485,500 - --------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - --------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.2 - --------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - --------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. SCHEDULE 13D CUSIP No. 447300104 Page 5 of 11 Pages - --------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON Teresa L. Stoltz - --------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X / (b) / / - --------------------------------------------------------------------------- 3 SEC USE ONLY - --------------------------------------------------------------------------- 4 SOURCE OF FUNDS* PF - --------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(E) / / - --------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - --------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 2,000 BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH -0- REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 2,000 -------------------------------------------------- 10 SHARED DISPOSITIVE POWER -0- - --------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,000 - --------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - --------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.02 - --------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - --------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. SCHEDULE 13D CUSIP No. 447300104 Page 6 of 11 Pages - --------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON Westcliff Partners, L.P. - --------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X / (b) / / - --------------------------------------------------------------------------- 3 SEC USE ONLY - --------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC - --------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(E) / / - --------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION California - --------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES -0- BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 485,500 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH -0- -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 485,500 - --------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 485,500 - --------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - --------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.2 - --------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - --------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. SCHEDULE 13D CUSIP No. 447300104 Page 7 of 11 Pages ITEM 1. SECURITY AND ISSUER. This statement relates to Limited Partnership Units (the "Units") of Huntway Partners, L.P. ("HWY"). The principal executive office of HWY is located at 25129 The Old Road, Suite 322, Newhall, California 91381. ITEM 2. IDENTITY AND BACKGROUND. The persons filing this statement and the persons enumerated in Instruction C of Schedule 13D and, where applicable, their respective places of organization, general partners, directors, executive officers and controlling persons, and the information regarding them, are as follows: (a) Westcliff Capital Management, LLC, a California limited liability company ("WCM"); Westcliff Partners, L.P., a California limited partnership ("WP"); Richard S. Spencer III ("Spencer"); David R. Korus ("Korus") and Teresa L. Stoltz ("Stoltz"). (b) The business address of WCM, WP, Spencer and Stoltz is 200 Seventh Avenue, Suite 105, Santa Cruz, California 95062. The business address of Korus is 152 W. 57th Street, New York, New York 10019. (c) WCM is the investment adviser to and general partner of WP, which is an investment limited partnership. Spencer and Korus are the sole managers of WCM. Stoltz is an employee of WCM. (d) During the last five years, none of such persons has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). (e) During the last five years, none of such persons was 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) Spencer, Korus and Stoltz are citizens of the United States of America. SCHEDULE 13D CUSIP No. 447300104 Page 8 of 11 Pages ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. The source and amount of funds used in purchasing the Units were as follows: Purchaser Source of Funds Amount WCM Funds Under Management(1) $ 327,859.55 WP Working Capital $ 327,859.55 Spencer Personal Funds (2) $ 68,209.60 Stoltz Personal Funds (3) $ 875.00 (1) Consists of funds of WP invested in Units. (2) Represents Units owned by an individual retirement account of Spencer's wife. (3) Represents Units owned by an individual retirement account of Stoltz' husband. ITEM 4. PURPOSE OF TRANSACTION. The Reporting Persons have acquired the Units solely for investment purposes. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. The beneficial ownership of the Units of the persons named in Item 2 of this statement is as follows at the date hereof: Aggregate Beneficially Owned Voting Power Dispositive Power Name Number Percent Sole Shared Sole Shared WCM 485,500 4.2 -0- 485,500 -0- 485,500 WP 485,500 4.2 -0- 485,500 -0- 485,500 Spencer 609,900 5.3 124,400 485,500 124,400 485,500 Korus 485,500 4.2 -0- 485,500 -0- 485,500 Stoltz 2,000 0.02 2,000 -0- 2,000 -0- SCHEDULE 13D CUSIP No. 447300104 Page 9 of 11 Pages The persons filing this statement effected the following transactions in the Units on the dates indicated, and such transactions are the only transactions in the Units by the persons filing this statement since September 20, 1996. Purchase Number Price Broker Name or Sale Date of Shares Per Share Used WP P 9-30-96 2,000 0.7475 INET WP S 10-22-96 3,400 0.7200 MSCO WP S 10-22-96 1,600 0.7200 MSCO WP S 11-01-96 700 0.6900 INET WP S 11-01-96 1,500 0.6900 INET WP P 11-18-96 2,000 0.6350 GSCO WP P 11-19-96 23,000 0.5807 GSCO WP P 11-20-96 3,000 0.6975 GSCO WP P 11-21-96 25,000 0.6350 GSCO WP P 11-22-96 2,500 0.6975 GSCO GSCO - Goldman, Sachs & Co. INET - Instinet Corporation MSCO - Morgan Stanley & Co., Incorporated SCHEDULE 13D CUSIP No. 447300104 Page 10 of 11 Pages ITEM. 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER. WCM is the general partner of WP pursuant to a limited partnership agreement providing to WCM the authority, among other things, to invest the funds of WP in Units, to vote and dispose of Units and to file this statement on behalf of WP. Pursuant to such limited partnership agreement, the general partner of WP is entitled to allocations based on assets under management and realized and unrealized gains. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. A. Agreement Regarding Joint Filing of Statement on Schedule 13D or 13G. SIGNATURES After reasonable inquiry and to the best of my knowledge, I certify that the information set forth in this statement is true, complete and correct. DATED: December 2, 1996. WESTCLIFF PARTNERS, L.P. /s/ Richard S. Spencer III Richard S. Spencer III By: Westcliff Capital Management, LLC /s/ David R. Korus General Partner David R. Korus By: /s/ Richard S. Spencer III Richard S. Spencer III /s/ Teresa L. Stoltz Manager Teresa L. Stoltz WESTCLIFF CAPITAL MANAGEMENT, LLC By: /s/ Richard S. Spencer III Richard S. Spencer III, Manager SCHEDULE 13D CUSIP No. 447300104 Page 11 of 11 Pages EXHIBIT A AGREEMENT REGARDING JOINT FILING OF STATEMENT ON SCHEDULE 13D OR 13G The undersigned agree to file jointly with the Securities and Exchange Commission (the "SEC") any and all statements on Schedule 13D or Schedule 13G (and any amendments or supplements thereto) required under section 13(d) of the Securities Exchange Act of 1934, as amended, in connection with purchases by the undersigned of Limited Partnership Units of Huntway Partners, L.P.. For that purpose, the undersigned hereby constitute and appoint Westcliff Capital Management, LLC, a California limited liability company, as their true and lawful agent and attorney-in-fact, with full power and authority for and on behalf of the undersigned to prepare or cause to be prepared, sign, file with the SEC and furnish to any other person all certificates, instruments, agreements and documents necessary to comply with section 13(d) and section 16(a) of the Securities Exchange Act of 1934, as amended, in connection with said purchases, and to do and perform every act necessary and proper to be done incident to the exercise of the foregoing power, as fully as the undersigned might or could do if personally present. DATED: December 2, 1996. WESTCLIFF PARTNERS, L.P. /s/ Richard S. Spencer III Richard S. Spencer III By: Westcliff Capital Management, LLC /s/ David R. Korus General Partner David R. Korus By: /s/ Richard S. Spencer III Richard S. Spencer III /s/ Teresa L. Stoltz Manager Teresa L. Stoltz WESTCLIFF CAPITAL MANAGEMENT, LLC By: /s/ Richard S. Spencer III Richard S. Spencer III, Manager C:\DMS\9000\001\0189543.WP -----END PRIVACY-ENHANCED MESSAGE-----