Page 1 of 7 Pages
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)
ARCH CAPITAL GROUP
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
G0450A105
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(CUSIP Number)
Check the following box if a fee is being paid with this statement __. (A fee
is not required only if the filing 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.)
* 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 the
disclosures provided in a prior cover page.
The information required in 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. G0450A105 SCHEDULE 13G/A Page 2 of 7 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Steinberg Priest Capital Management Company, Inc.
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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 CITIZENSHIP OR PLACE OF ORGANIZATION
State of Delaware
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5 SOLE VOTING POWER
NUMBER OF 659,450
SHARES ---------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 0
EACH ---------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 1,416,277
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8 SHARED DISPOSITIVE POWER
0
---------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,416,277
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11.01%
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12 TYPE OF REPORTING PERSON*
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT
CUSIP No. G0450A105 SCHEDULE 13G/A Page 3 of 7 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Michael A. Steinberg & Company, Inc.
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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 CITIZENSHIP OR PLACE OF ORGANIZATION
State of Delaware
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5 SOLE VOTING POWER
NUMBER OF 0
SHARES ---------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 0
EACH ---------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 21,870
---------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
---------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
21,870
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
.17%
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12 TYPE OF REPORTING PERSON*
BD
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*SEE INSTRUCTIONS BEFORE FILLING OUT
Page 4 of 7 Pages
SCHEDULE 13G/A
Item 1 (a) Name of Issuer:
Arch Capital Group LTD
(b) Address of Issuer's Principal Executive Offices:
20 Horseneck Lane
Greenwich, CT 06830
Item 2 (a) Name of Person filing:
1. Steinberg Priest Capital Mgmt. Co., Inc.
2. Michael A. Steinberg & Co., Inc.
(b) Address of Principal Business Office:
12 East 49th Street, New York, NY 10017
(c) Citizenship:
1. State of Delaware
2. State of Delaware
(d) Title of Class of Securities:
Common Stock
(e) Cusip Number:
G0450A105
Item 3 If this statement is filed pursuant to Rules 13d-1(b), or
13d-2(b), check whether the person filing is a:
(a) [X] Broker or Dealer registered under Section 15 of the Act
(b) [ ] Bank as defined in Section 3(a)(6) of the Act
(c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act
(e) [X] Investment Advisor registered under Section 203 of the
Investment Advisors Act of 1940
(f) [ ] Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of
1974 or Endowment Fund; see Section 240.13d-1(b)(1)(ii)(F)
(g) [ ] Parent Holding Company, in accordance with Section
240.13d-1(b)(1)(ii)(G)
(h) [ ] Group, in accordance with Section 240.13d-1(b)(1)(ii)(k)
Page 5 of 7 Pages
Item 4 Ownership:
(a) Amount beneficially owned: 1,438,147
(b) Percent of Class: 11.18%
(c) Number of Shares as to which such person has
(i) Sole power to vote or to direct the vote: 659,450
(ii) Shared power to vote or direct the vote: none
(iii) Sole power to dispose or direct the disposition: 1,438,147
(iv) Shared power to dispose or direct the disposition of: none
Item 5 Ownership of Five Percent or less of a Class, Not Applicable
Item 6 No client or other person known to the Reporting Persons has an
interest that relates to 5% or more of this Security.
Item 7 Not Applicable
Item 8 Not Applicable
Item 9 Not Applicable
Item 10 Certification:
By signing below I certify that to the best of my knowledge and
belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the
purpose of and do not have the effect of changing or influencing
the control of the issuer of such securities and were not
acquired in connection with or as a participant in any
transaction having such purposes or effect.
Page 6 of 7 Pages
Exhibit A
Michael A. Steinberg may be deemed to have beneficial ownership of the
securities beneficially owned by Steinberg Priest Capital Mgmt. Co., Inc.
and Michael A. Steinberg & Company, Inc.
Page 7 of 7 Pages
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.
January 28, 2002
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Date
/s/ Steve Feld
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Signature
Steven Feld - Vice President
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Name/Title