UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
Putnam New York Investment Grade Municipal Trust
(Name of Issuer)
Common Stock
(Title of Class of Securities)
746921105
(CUSIP Number)
Stephen C. Miller, Esq.
Joel L. Terwilliger, Esq.
2344 Spruce Street, Suite A
Boulder, Colorado 80302
(303) 442-2156
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
March 27, 2007
(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 Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-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 Section 240.13d-7 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).
CUSIP No. 746921105
--------------------------------------------------------------------------------
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Mildred B. Horejsi Trust
--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b)
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. Source of Funds (See Instructions) WC OO
--------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d)
or 2(e)
--------------------------------------------------------------------------------
6. Citizenship or Place of Organization Alaska
--------------------------------------------------------------------------------
Number of 7. Sole Voting Power 380,263
Shares Bene-
ficially Owned 8. Shared Voting Power 0
by Each
Reporting 9. Sole Dispositive Power 380,263
Person With
10. Shared Dispositive Power 0
--------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person 380,263
--------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
--------------------------------------------------------------------------------
13. Percent of Class Reported by Amount in Row (11) 13.67%
--------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions) OO
CUSIP No. 746921105
--------------------------------------------------------------------------------
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Lola Brown Trust No. 1B
--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b)
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. Source of Funds (See Instructions) WC OO
--------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d)
or 2(e)
--------------------------------------------------------------------------------
6. Citizenship or Place of Organization Alaska
--------------------------------------------------------------------------------
Number of 7. Sole Voting Power 151,000
Shares Bene-
ficially Owned 8. Shared Voting Power 0
by Each
Reporting 9. Sole Dispositive Power 151,000
Person With
10. Shared Dispositive Power 0
--------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person 151,000
--------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
--------------------------------------------------------------------------------
13. Percent of Class Reported by Amount in Row (11) 5.43%
--------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions) OO
CUSIP No. 746921105
--------------------------------------------------------------------------------
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Stewart R. Horejsi
--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b)
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. Source of Funds (See Instructions) Not applicable
--------------------------------------------------------------------------------
5. Check 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 0
Shares Bene-
ficially Owned 8. Shared Voting Power 0
by Each
Reporting 9. Sole Dispositive Power 0
Person With
10. Shared Dispositive Power 0
--------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person 0
--------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
--------------------------------------------------------------------------------
13. Percent of Class Reported by Amount in Row (11) 0%
--------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions) IN
Amendment No. 2 to Statement on Schedule 13D
This second amended statement on Schedule 13D relates to the Common Stock
(the "Shares") of Putnam New York Investment Grade Municipal Trust, a
Massachusetts business trust (the "Company"). Items 1, 3, 4, 5 and 7 of this
statement, previously filed by (i) the Mildred B. Horejsi Trust (the "Mildred
Trust") as the direct beneficial owner of Shares and (ii) by virtue of certain
relationships described in this statement, by Stewart R. Horejsi, are hereby
amended as set forth below.
Item 1. Identity and Background
(a) This Statement is filed (i) by the Mildred B. Horejsi Trust (the "Mildred
Trust"), as the direct beneficial owner of Shares; (ii) the Lola Brown Trust No.
1B (the "Lola Trust"), as the direct beneficial owner of Shares and (iii) by
virtue of certain relationships described in this statement, by Stewart R.
Horejsi. Mr. Horejsi, the Mildred Trust and the Lola Trust are collectively
referred to herein as the "Reporting Persons". The Mildred Trust and the Lola
Trust are collectively referred to herein as the "Trusts". By signing this
Statement, each Reporting Person agrees that this Statement is filed on its or
his behalf.
The trustees of the Mildred Trust are Badlands Trust Company, LLC ("Badlands"),
Susan L. Ciciora and Brian Sippy (collectively, the "Mildred Trustees"). The
Trustees of the Lola Trust are Badlands, Ms. Ciciora and Larry Dunlap (the "Lola
Trustees"). The Mildred Trustees and the Lola Trustees are collectively referred
to herein as the "Trustees". The Trustees may be deemed to control the
respective Trusts and may be deemed to possess indirect beneficial ownership of
the Shares held by the respective Trust. However, none of the Trustees, acting
alone, can vote or exercise dispositive authority over Shares held by either
Trust. Accordingly, the Trustees disclaim beneficial ownership of the Shares
beneficially owned, directly or indirectly, by the Trusts.
As a result of his advisory role with the Trusts, Mr. Horejsi may be deemed to
have indirect beneficial ownership over the Shares directly beneficially owned
by the Trusts. However, Mr. Horejsi disclaims beneficial ownership of the Shares
directly held by the Trusts.
(b) The business address of the Mildred Trust and Lola Trust is c/o Badlands
Trust Company, LLC, 3301 C Street, Suite 100, Anchorage, AK 99503. The business
address of Mr. Horejsi is c/o Stewart Investment Advisers, Bellerive, Queen
Street, St. Peter 26061 Barbados. The business address of Ms. Ciciora is 2344
Spruce Street, Suite A, Boulder, Colorado 80302. The business address of Dr.
Sippy is 7265 Old Grant Creek Road, Missoula, MT 59808. The business address of
Mr. Dunlap is 771 Victoria Heights Terrace, Salina, Kansas 67401.
(c) The Mildred Trust is an irrevocable grantor trust organized by Mr. Horejsi's
mother, Mildred Horejsi, primarily for the benefit of her issue. Although the
Mildred Trust was established under the laws of New York and originally
domiciled in Kansas, it is now domiciled and administered in Alaska. The Lola
Trust is an irrevocable grantor trust organized by Mr. Horejsi's grandmother,
Lola Brown, primarily for the benefit of her issue. Although the Lola Trust was
established under the laws of and originally domiciled in Kansas, it is now
domiciled and administered in Alaska. Badlands is an Alaskan limited liability
company organized to act as a private trust company to administer the Mildred
Trust as well as other family trusts for Mr. Horejsi's family.
Mr. Horejsi is a private investor and is the portfolio manager for two
registered investment advisers, Boulder Investment Advisers, LLC ("BIA") and
Stewart West Indies Trading Company, Ltd., doing business as Stewart Investment
Advisers ("SIA"). BIA and SIA are co-investment advisers to two closed-end
investment companies, the Boulder Total Return Fund, Inc. ("BTF") and the
Boulder Growth & Income Fund, Inc. ("BIF"). BIA and SIA are owned by the Lola
Trust and other Horejsi family trusts (directly or indirectly through entities
wholly-owned by such trusts). Dr. Sippy is a licensed physician practicing in
Missoula, Montana, and specializing in ophthalmology and is a trustee of or
protector with respect to other Horejsi family trusts. Ms. Ciciora is Mr.
Horejsi's daughter and is a trustee of several other Horejsi family trusts. Mr.
Dunlap is retired from the automotive parts business and is a director/manager
of Badlands and a trustee of or protector with respect to other Horejsi family
trusts.
(d) None of the Reporting Persons, Badlands, Ms. Ciciora, Dr. Sippy or Mr.
Dunlap has been convicted in a criminal proceeding in the past five years
(excluding traffic violations or similar misdemeanors).
(e) During the past five years, none of the Reporting Persons, Badlands, Ms.
Ciciora, Dr. Sippy or Mr. Dunlap was a party to a civil proceeding of a judicial
or administrative body of competent jurisdiction as a result of which such
person 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 of finding any violation with respect to such laws.
(f) Mr. Horejsi, Ms. Ciciora, Dr. Sippy and Mr. Dunlap are each citizens of the
United States.
Item 3. Source and Amount of Funds or Other Consideration.
No change except for the addition of the following:
The total amount of funds required by the Lola Trust to purchase the Shares
as reported in Item 5(c) was $2,046,360.00 Such funds were provided by the Lola
Trust's cash on hand.
Item 4. Purpose of Transaction
No change except for the addition of the following:
The Lola Trust acquired the Shares reported in Item 5(c) in order to acquire an
equity ownership of the Company.
Depending upon their evaluation of the Company's investments and prospects,
and upon future developments (including, but not limited to, performance of the
Shares in the market, the effective yield on the Shares, availability of funds,
alternative uses of funds, and money, stock market and general economic
conditions), any of the Reporting Persons or other entities that may be deemed
to be affiliated with the Trusts may from time to time purchase Shares, and any
of the Reporting Persons or other entities that may be deemed to be affiliated
with the Trusts may from time to time dispose of all or a portion of the Shares
held by such person, or cease buying or selling Shares. Any such additional
purchases or sales of the Shares may be in open market or privately-negotiated
transactions or otherwise.
Item 5. Interest in Securities of the Issuer.
No change except for the addition of the following:
(a) The Mildred Trust is the direct beneficial owner of 380,263 Shares, or
approximately 13.67% of the 2,780,987 Shares outstanding as of October 31, 2006
(the "Outstanding Shares"), according to information contained in the Company's
semi-annual report to shareholders. By virtue of the relationships previously
reported in this statement, Mr. Horejsi, Dr. Sippy and Ms. Ciciora may be deemed
to share indirect beneficial ownership of the Shares directly beneficially owned
by the Trust. Mr. Horejsi disclaims all such beneficial ownership.
The Lola Trust is the direct beneficial owner of 151,000 Shares, or
approximately 5.43% of the Outstanding Shares. By virtue of the relationships
previously reported in this statement, Messrs. Horejsi and Dunlap and Ms.
Ciciora may be deemed to share indirect beneficial ownership of the Shares
directly beneficially owned by the Lola Trust. Messrs. Horejsi and Dunlap and
Ms. Ciciora disclaim all such beneficial ownership.
By virtue of the relationships and transactions described in this statement, the
Trusts may be deemed to constitute a group. The Mildred Trust disclaims
beneficial ownership of Shares directly beneficially owned by the Lola Trust,
and the Lola Trust disclaims beneficial ownership of Shares directly
beneficially owned by the Mildred Trust.
(b) The Trusts have the direct power to vote and direct the disposition of the
respective Shares held by them. By virtue of the relationships described in Item
2, Messrs. Horejsi and the Trustees may be deemed to share the indirect power to
vote and direct the disposition of the Shares held by the Trusts. Mr. Horejsi
and the Trustees disclaim all such beneficial ownership.
(c) The table below sets forth purchases of the Shares by the Lola Trust. Such
purchases were effected in privately negotiated transactions.
------------------------------------- ----------------------------------- -----------------------------------
Date Amount of Shares Approximate Price Per Share
(exclusive of commissions)
------------------------------------- ----------------------------------- -----------------------------------
3/27/2007 37,000 $13.62
3/29/2007 114,000 $13.53
The table below sets forth sales of the Shares by the Mildred Trust. Such sales
were effected in privately negotiated transactions.
------------------------------------- ----------------------------------- -----------------------------------
Date Amount of Shares Approximate Price Per Share
(exclusive of commissions)
------------------------------------- ----------------------------------- -----------------------------------
3/27/2007 37,000 $13.62
3/29/2007 114,000 $13.53
Item 7. Material to be Filed as Exhibits.
No change except for the addition of the following:
Exhibit 5. Joint Filing Agreement.
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.
Date: April 3, 2007
/s/ Stewart R. Horejsi
Stewart R. Horejsi
/s/ Stephen C. Miller
Stephen C. Miller as President of Badlands Trust Company, LLC, an
Alaska-domiciled limited liability company, private trust company, and
administrative trustee for the Mildred B. Horejsi Trust and the Lola Brown Trust
No. 1B
Exhibit 5
Joint Filing Agreement
In accordance with Rule 13d-1(f) under the Securities Exchange Act of 1934, as
amended, the undersigned hereby (i) agree to the joint filing with all other
Reporting Persons (as such term is defined the the statement on Schedule 13D
described below) on behalf of each of them of a statement on Schedule 13D
(including amendments thereto) with respect to the Common Stock of Putnam New
York Investment Grade Municipal Trust and (ii) agree that this Agreement be
included as an Exhibit to such joint filing. This Agreement may be executed in
any number of counterparts all of which taken together shall constitute one and
the same instrument. In witness whereof, the undersigned hereby execute this
Joint Filing Agreement on April 3, 2007.
Mildred Horejsi Trust
By: Badlands Trust Company, LLC, trustee
/s/ Stephen C. Miller
By: ______________________________
Stephen C. Miller, President
Lola Brown Trust No. 1B
By: Badlands Trust Company, LLC, trustee
/s/ Stephen C. Miller
By: ______________________________
Stephen C. Miller, President
/s/ Stewart R. Horejsi
---------------------------------
Stewart R. Horejsi