SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
Amendment #1
TECH/OPS SEVCON, INC.
(NAME OF ISSUER)
Common Stock $.10 par value
(TITLE OF CLASS OF SECURITIES)
878293109
(CUSIP NUMBER)
Paul D. Sonkin
Hummingbird Management, LLC
(f/k/a Morningside Value Investors, LLC)
153 East 53rd Street
New York, New York 10022
212-521-0975
(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON
AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS)
April 11, 2003
(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 that 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).
(Continued on following pages)
(Page 1 of 6 pages)
CUSIP No. 878293109 13D/A Page 2 of 6 Pages
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1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Hummingbird Management, LLC (f/k/a Morningside Value Investors, LLC)
IRS No. 13-4082842
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2. CHECK THE APPROPRIATE BOX IF A GROUP* (a) [x]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCES OF FUNDS
OO
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) OR 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 7. SOLE VOTING POWER 0
SHARES
------------------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER 396,165
OWNED BY
------------------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER 394,675
REPORTING
------------------------------------------------------------
PERSON WITH 10. SHARED DISPOSITIVE POWER 0
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 396,165
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES * [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 12.7%
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14. TYPE OF REPORTING PERSON*
OO
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(Page 2 of 6 Pages)
CUSIP No. 878293109 13D/A Page 3 of 6 Pages
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1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Paul D. Sonkin
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2. CHECK THE APPROPRIATE BOX IF A GROUP* (a) [x]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCES OF FUNDS
PF
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) OR 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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NUMBER OF 7. SOLE VOTING POWER 0
SHARES
------------------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER 396,165
OWNED BY
------------------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER 1,490
REPORTING
------------------------------------------------------------
PERSON WITH 10. SHARED DISPOSITIVE POWER 0
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 396,165
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES * [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 12.7%
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14. TYPE OF REPORTING PERSON*
IN
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(Page 3 of 6 Pages)
CUSIP No. 878293109 13D/A Page 4 of 6 Pages
AMENDMENT NO. 1 TO SCHEDULE 13D
This Amendment No. 1, dated April 15, 2003, to Schedule 13D is
filed by the Reporting Persons and amends Schedule 13D as previously filed
by the Reporting Persons with the Securities and Exchange Commission on
February 10, 2003 (the "Schedule 13D"), relating to the common stock, $.10
par value (the "Common Stock") of Tech/Ops Sevcon, Inc., a Delaware
corporation.
Items 3 and 5 of the Schedule 13D/A are hereby amended and
restated, as follows:
ITEM 3 SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
As of April 14, 2003, Hummingbird has caused each of HVF and
Microcap Fund to invest approximately $788,194 and $341,818, respectively,
in the Shares of the Issuer using their respective working capital. Sonkin has
invested $7,919 in Shares of the issuer using Personal Funds.
ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
(a) The Reporting Persons aggregately beneficially own 396,165, or
12.7% of the Common Stock of the Issuer, based upon 3,125,051 shares
outstanding as of December 31, 2002, as reported on the latest 10-Q of the
Issuer.
(b) Hummingbird has shared voting power over 396,165 Shares of the
Issuer.
Hummingbird has sole dispositive power over 394,675 Shares.
As the holder of sole voting and investment authority over the Shares owned
by HVF and the Microcap Fund, Hummingbird may be deemed, for purposes of Rule
13d-3 under the Securities Exchange Act of 1934, as amended, to be the
beneficial owner of the aggregate amount of 394,675 Shares of the Issuer.
Hummingbird disclaims any economic interest or beneficial ownership of the
Shares covered by this Statement.
(Page 4 of 6 Pages)
CUSIP No. 878293109 13D/A Page 5 of 6 Pages
Mr. Sonkin is the managing member and control person of
Hummingbird, and for purposes of Rule 13d-3 may be deemed the beneficial
owner of such Shares deemed to be beneficially owned by Hummingbird. Thus,
Mr. Sonkin may be deemed, for purposes of Rule 13d-3, to be the beneficial
owner of 394,675 Shares of the Issuer Mr. Sonkin disclaims any economic
interest or beneficial ownership of these Shares.
Mr. Sonkin is also the owner of 1,490 Shares and has sole
dispositive power over 1,490 Shares. He has shared voting power over
396,165 Shares.
(c) Hummingbird caused HVF to effect transactions in the Shares during
the past 60 days as set forth below:
AMOUNT OF
DATE TYPE SHARES PRICE/SHARE
---- ---- ------ -----------
4/4/03 open market purchase 700 4.330
4/11/03 open market purchase 110,000 4.00
Hummingbird caused the Microcap Fund to effect transactions
in the Shares during the past 60 days as set forth below:
AMOUNT OF
DATE TYPE SHARES PRICE/SHARE
---- ---- ------ -----------
2/24/03 open market purchase 1,500 4.700
4/4/03 open market purchase 300 4.330
4/11/03 open market purchase 120,000 4.000
4/14/03 open market purchase 3,300 4.132
(Page 5 of 6 Pages)
CUSIP No. 878293109 13D/A Page 6 of 6 Pages
Sonkin has effected the transaction in the Shares during
the past 60 days as set forth below:
AMOUNT OF
DATE TYPE SHARES PRICE/SHARE
---- ---- ------ -----------
4/14/03 open market purchase 390 4.150
(d) Inapplicable.
(e) Inapplicable.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief,
we certify that the information set forth in this statement is true,
complete and correct.
Dated: April 15, 2003
HUMMINGBIRD MANAGEMENT, LLC
By: /s/ Paul D. Sonkin
-----------------------------
Name: Paul D. Sonkin
Title: Managing Member
Dated: April 15, 2003
By: /s/ Paul D. Sonkin
(Page 6 of 6 Pages)
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