SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 20)*
MACC Private Equities Inc.
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Common Stock, $0.01 par value
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(Title of Class of Securities)
552 617 102
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(CUSIP Number)
W. David Hemingway,
Zions Bancorporation,
One South Main, Suite 1380
Salt Lake City, Utah 84111
(801) 524-4787
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(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
September 30, 2003
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(Date of Event which Requires
Filing of this Statement)
If a 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 this 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).
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CUSIP NO. 552 617 102
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1. NAME OF REPORTING PERSON
Zions Bancorporation
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
87-0227400
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
WC
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)
[ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Utah
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7. SOLE VOTING POWER
NUMBER OF -0-
SHARES ----------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 10,238
EACH ----------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON -0-
WITH ----------------------------------------------------
10. SHARED DISPOSITIVE POWER
10,238
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
10,238
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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)
0.4395%
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14. TYPE OF REPORTING PERSON
HC,CO
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Page 2 of 7
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CUSIP NO. 552 617 102
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1. NAME OF REPORTING PERSON
Zions First National Bank
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
87-0189025
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
WC
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)
[ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7. SOLE VOTING POWER
NUMBER OF -0-
SHARES ----------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 10,238
EACH ----------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON -0-
WITH ----------------------------------------------------
10. SHARED DISPOSITIVE POWER
10,238
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
10,238
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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)
0.4395%
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14. TYPE OF REPORTING PERSON
BK
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Page 3 of 7
Zions Bancorporation ("Zions") hereby amends its report on Schedule 13D
originally filed on May 24, 1996 as heretofore amended (the "Schedule 13D") in
respect of the Common Stock of MACC Private Equities Inc. (the "Company").
Capitalized terms used but not defined herein shall have the meanings given such
terms in the Schedule 13D.
Item 3. Source and Amount of Funds or Other Consideration.
The funds required to purchase the 668,868 shares of Common Stock
beneficially owned by Zions and the Bank were $ 4,334,005. These funds were
derived from working capital.
Item 5. Interest in Securities of the Issuer.
(a) The Bank currently holds and Zions may be deemed to hold through the
Bank, for purposes of this report on Schedule 13D, the beneficial ownership of
10,238 shares of Common Stock, which the Bank and Zions believe represents
approximately 0.4395% of the outstanding shares of Common Stock.
(b) Zions may be deemed to share the power to vote or direct the vote and
to dispose or to direct the disposition of the 10,238 shares of Common Stock
held by the Bank.
(c) On November 29, 2000, the Bank purchased 100 shares of Common Stock at
a cost of $1,006.25 ($10.0625 per share). On December 7, 2000, the Bank
purchased 199 shares of Common Stock at a cost of $1,952.94 ($9.8138 per share).
On December 11, 2000, the Bank purchased 900 shares of Common Stock at a cost of
$8,662.50 ($9.6250 per share). On December 12, 2000, the Bank purchased 300
shares of Common Stock at a cost of $2,918.75 ($9.7292 per share). On December
15, 2000, the Bank purchased 401 shares of Common Stock at a cost of $3,884.56
($9.6872 per share). On December 15, 2000, the Bank purchased 2,800 shares of
Common Stock at a cost of $26,950.00 ($9.6250 per share). On December 19, 2000,
the Bank purchased 100 shares of Common Stock at a cost of $1,006.25 ($10.0625
per share). On December 20, 2000, the Bank purchased 100 shares of Common Stock
at a cost of $1,006.25 ($10.0625 per share). On December 20, 2000, the Bank
purchased 2,200 shares of Common Stock at a cost of $21,175.00 ($9.6250 per
share). On December 27, 2000, the Bank purchased 800 shares of Common Stock at a
cost of $7,708.51 ($9.6356 per share). On January 10, 2001, the Bank purchased
1,000 shares of Common Stock at a cost of $9,625.00 ($9.6250 per share). On
January 10, 2001, the Bank purchased 483 shares of Common Stock at a cost of
$4,669.43 ($9.6676 per share). On January 11, 2001, the Bank purchased 517
shares of Common Stock at a cost of $4,995.63 ($9.6627 per share). On January
29, 2001, the Bank purchased 100 shares of Common Stock at a cost of $1,012.50
($10.1250 per share). On January 30, 2001, the Bank purchased 300 shares of
Common Stock at a cost of $2,937.50 ($9.7917 per share). On February 9, 2001,
the Bank purchased 700 shares of Common Stock at a cost of $6,794.45 ($9.7064
per share). On February 12, 2001, the Bank purchased 300 shares of Common Stock
at a cost of $2,937.50 ($9.7917 per share). On February 13, 2001, the Bank
purchased 1,240 shares of Common Stock at a cost of $12,012.50 ($9.6875 per
share). On February 14, 2001, the Bank purchased 4,700 shares of Common Stock at
a cost of $45,546.25 ($9.6907 per share). On February 16, 2001, the Bank
purchased 1,000 shares of Common Stock at a cost
Page 4 of 7
of $10,625.96 ($10.6260 per share). On February 27, 2001, the Bank purchased 900
shares of Common Stock at a cost of $9,511.57 ($10.5684 per share). On February
28, 2001, the Bank purchased 1,000 shares of Common Stock at a cost of
$11,126.81 ($11.1268 per share). On March 1, 2001, the Bank purchased 1,000
shares of Common Stock at a cost of $10,563.35 ($10.5634 per share). In each
case of purchase, the shares were acquired in the ordinary course of business in
transactions on the open market.
(e) On September 30, 2003, the Bank sold to Altas Management Partners, LLC,
a Utah limited liability company, approximately 804,689 shares of Common Stock
of the Company for $3,200,000. After the sale to Atlas, the Bank owns 10,238
shares of Common Stock, which the Bank and Zions believe represents
approximately 0.4395% of the outstanding shares of Common Stock.
Item 7. Material to be Filed as Exhibits.
Exhibit 10 Stock Purchase Agreement dated July 30, 2003 between
Zions First National Bank, a national banking
association, and Atlas Management Partners, LLC.
Page 5 of 7
SIGNATURE
After due inquiry and to the best of my knowledge and belief, I hereby certify
that the information set forth in this statement is true, complete and correct.
Dated: October 9, 2003
ZIONS BANCORPORATION
By: /s/ Doyle L. Arnold
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Name: Doyle L. Arnold
Title: Executive Vice President
and Secretary
Page 6 of 7
SIGNATURE
After due inquiry and to the best of my knowledge and belief, I hereby
certify that the information set forth in this statement is true, complete and
correct.
Dated: October 9, 2003
ZIONS FIRST NATIONAL BANK
By: /s/ Doyle L. Arnold
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Name: Doyle L. Arnold
Title: Executive Vice President
and Secretary
Page 7 of 7