UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 5)*
Best Buy Co. Inc.
(Name of Issuer)
Common Stock, $0.10 par value
(Title of Class of Securities)
086516101
(CUSIP Number)
December 31, 2000
(Date of Event Which Requires Filing of This Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[x] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*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. 086516101 13G Page 2 of 10 pages
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Forstmann-Leff Associates, LLC
52-2169043
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
5 SOLE VOTING POWER
NUMBER OF
SHARES 2,285,646 shares
BENEFICIALLY
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 4,766,025 shares
PERSON
WITH
7 SOLE DISPOSITIVE POWER
2,993,731 shares
8 SHARED DISPOSITIVE POWER
6,363,875 shares
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9,357,606 shares (includes shares beneficially owned by FLA Asset
Management, LLC, FLA Advisers L.L.C. and Forstmann-Leff International,
LLC)
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
4.5%
12 TYPE OF REPORTING PERSON
IA, OO
CUSIP No. 086516101 13G Page 3 of 10 pages
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
FLA Asset Management, LLC
52-2169045
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
5 SOLE VOTING POWER
NUMBER OF
SHARES None
BENEFICIALLY
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 956,325 shares
PERSON
WITH
7 SOLE DISPOSITIVE POWER
None
8 SHARED DISPOSITIVE POWER
2,559,025 shares
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,559,025 shares
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.2%
12 TYPE OF REPORTING PERSON
IA, OO
CUSIP No. 086516101 13G Page 4 of 10 pages
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
FLA Advisers L.L.C.
13-3942422
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
5 SOLE VOTING POWER
NUMBER OF
SHARES None
BENEFICIALLY
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 3,780,350 shares
PERSON
WITH
7 SOLE DISPOSITIVE POWER
None
8 SHARED DISPOSITIVE POWER
3,780,350 shares
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,780,350 shares
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.8%
12 TYPE OF REPORTING PERSON
IA, OO
CUSIP No. 086516101 13G Page 5 of 10 pages
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Forstmann-Leff International, LLC
52-2169041
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
5 SOLE VOTING POWER
NUMBER OF
SHARES None
BENEFICIALLY
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 24,500 shares
PERSON
WITH
7 SOLE DISPOSITIVE POWER
None
8 SHARED DISPOSITIVE POWER
24,500 shares
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
24,500 shares
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
.01%
12 TYPE OF REPORTING PERSON
IA, OO
CUSIP No. 086516101 13G Page 6 of 10 pages
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Peconic Partners, LLC
13-4096659
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
5 SOLE VOTING POWER
NUMBER OF
SHARES None
BENEFICIALLY
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING None
PERSON
WITH
7 SOLE DISPOSITIVE POWER
None
8 SHARED DISPOSITIVE POWER
None
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
None
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0%
12 TYPE OF REPORTING PERSON
IA, OO
Page 7 of 10 pages
Item 1(a) NAME OF ISSUER:
Best Buy Co. Inc.
Item 1(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
7075 Flying Cloud Drive
Eden Prairie, MN 55344-9312
Item 2(a) NAME OF PERSON FILING:
See Item 1 of the cover pages attached hereto
Item 2(b) Address of Principal Business Office, or if none, residence:
590 Madison Avenue
New York, New York 10022
Item 2(c) CITIZENSHIP:
See Item 4 of the cover pages attached hereto
Item 2(d) TITLE OF CLASS OF SECURITIES:
Common Stock, par value $0.10
Item 2(e) CUSIP NUMBER:
086516101
Item 3 Forstmann-Leff Associates, LLC, a Delaware limited liability
company, is a registered investment adviser under Section 203 of
the Investment Advisers Act of 1940 (the "Act"). FLA Asset
Management, LLC, a Delaware limited liability company, is a
registered investment adviser under the Act and a subsidiary of
Forstmann-Leff Associates, LLC. FLA Advisers L.L.C., a New York
limited liability company, is a registered investment adviser
under the Act. Forstmann-Leff International, LLC, a Delaware
limited liability company, is a registered investment adviser
under the Act. The members of Forstmann-Leff Associates, LLC's
Investment Committee are the members of Forstmann-Leff
International, LLC's Investment Committee and the managers of FLA
Advisers, L.L.C. Peconic Partners, LLC, a Delaware limited
liability company formerly known as Stamford Advisers LLC, is a
registered investment adviser under the Act whose parent is FLA
Advisers L.L.C.
Page 8 of 10 pages
Item 4 OWNERSHIP:
(a) Amount beneficially owned:
See Item 9 of the cover pages attached hereto
(b) Percent of Class:
See Item 11 of the cover pages attached hereto
(c) See Items 5 through 8 of the cover pages attached
hereto
Item 5 OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
This statement is being filed to report that as of December
31, 2000, the reporting persons ceased to be a beneficial
owner of more than 5% of the common stock of Best Buy Co. Inc.
Item 6 OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:
Not Applicable.
Item 7 IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY:
Not Applicable
Item 8 IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:
Not Applicable
Item 9 NOTICE OF DISSOLUTION OF GROUP:
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 and
are held in the ordinary course of business and were not
acquired and are not held for the purpose of or with the
effect of changing or influencing the control of the issuer of
the securities and were not acquired and are not held in
connection with or as a participant in any transaction having
that purpose or effect.
Page 9 of 10 pages
SIGNATURES
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.
February 12, 2001
FORSTMANN-LEFF ASSOCIATES, LLC
By: /s/ Joseph Sullivan
Chief Operating Officer
FLA ASSET MANAGEMENT, LLC
By: Forstmann-Leff Associates, LLC,
its Sole Member
By: /s/ Joseph Sullivan
Chief Operating Officer
FLA ADVISERS L.L.C.
By: /s/ Joseph Sullivan
Chief Financial Officer
FORSTMANN-LEFF INTERNATIONAL, LLC
By: /s/ Robert Trosten
Treasurer
PECONIC PARTNERS, LLC
By: /s/ Joseph Sullivan
Chief Financial Officer
Page 10 of 10 pages
Exhibit A
AGREEMENT
The undersigned, Forstmann-Leff Associates, LLC, FLA Asset
Management, LLC, FLA Advisers L.L.C., Forstmann-Leff International, LLC and
Peconic Partners, LLC agree that the statement to which this exhibit is appended
is filed on behalf of each of them.
February 12, 2001
FORSTMANN-LEFF ASSOCIATES, LLC
By: /s/ Joseph Sullivan
Chief Operating Officer
FLA ASSET MANAGEMENT, LLC
By: Forstmann-Leff Associates, LLC,
its Sole Member
By: /s/ Joseph Sullivan
Chief Operating Officer
FLA ADVISERS L.L.C.
By: /s/ Joseph Sullivan
Chief Financial Officer
FORSTMANN-LEFF INTERNATIONAL, LLC
By: /s/ Robert Trosten
Treasurer
PECONIC PARTNERS, LLC
By: /s/ Joseph Sullivan
Chief Financial Officer