Page 1 of 12 Pages
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 5)*
DSW Inc.
-----------------------------------------------------
(Name of Issuer)
Class A Common
-----------------------------------------------------
(Title of Class of Securities)
23334L102
-----------------------------------------------------
(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).
Page 2 of 12 Pages
Schedule 13G Amendment No. 5(continued)
CUSIP No. 23334L102
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Baron Capital Group, Inc.
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH 1,617,666
REPORTING --------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,756,166
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,756,166
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
10.8%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
HC, CO
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
Page 3 of 12 Pages
Schedule 13G Amendment No. 5(continued)
CUSIP No. 23334L102
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
BAMCO, Inc.
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH 1,455,666
REPORTING --------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,584,166
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,584,166
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.0%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IA, CO
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
Page 4 of 12 Pages
Schedule 13G Amendment No. 5(continued)
CUSIP No. 23334L102
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Baron Capital Management, Inc.
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH 162,000
REPORTING --------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
172,000
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
172,000
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.1%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IA, CO
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
Page 5 of 12 Pages
Schedule 13G Amendment No. 5(continued)
CUSIP No. 23334L102
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Baron Growth Fund
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH 1,091,096
REPORTING --------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,091,096
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,091,096
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.7%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IV
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
Page 6 of 12 Pages
Schedule 13G Amendment No. 5(continued)
CUSIP No. 23334L102
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Ronald Baron
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH 1,617,660
REPORTING --------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,756,166
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,756,166
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
10.8%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
HC, IN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
Page 7 of 12 Pages
Item 1.
(a) Name of Issuer:
DSW Inc.
(b) Address of Issuer's Principal Executive Offices:
810 DSW Drive
Columbus, OH 43219
Item 2.
(a) Name of Persons Filing:
Baron Capital Group, Inc. ("BCG")
BAMCO, Inc. ("BAMCO")
Baron Capital Management, Inc. ("BCM")
Baron Growth Fund ("BGF")
Ronald Baron
(b) Address of Principal Business Office:
767 Fifth Avenue
New York, NY 10153
(c) Citizenship:
BCG, BAMCO and BCM are New York corporations. Baron Small Cap
Fund and Baron Growth Fund are series of a Massachusetts Business
Trust. Ronald Baron is a citizen of the United States.
(d) Title of Class Securities:
Class A Common
(e) CUSIP Number:
23334L102
Item 3. PERSONS FILING:
BCG and Ronald Baron are:
(g) Parent holding companies, in accordance with
Section 240.13d-1(b)(ii)(G)
BAMCO and BCM are:
(e) Investment Advisers registered under Section 203 of
the Investment Advisers Act of 1940
BGF is:
(d) Investment Companies registered under Section 8 of the
Investment Company Act.
All persons filing are:
(j) Group, in accordance with Rule 13d-1(b)(1)(ii)(J)
Page 8 of 12 Pages
Item 4. OWNERSHIP^
(a) Amount Beneficially Owned as of March 31, 2008:
BCG: 1,756,166 shares
BAMCO: 1,584,166 shares
BCM: 172,000 shares
BGF: 1,091,096 shares
Ronald Baron: 1,756,166 shares
(b) Percent of Class#:
BCG: 10.8%
BAMCO: 1.0%
BCM: 1.1%
BGF: 6.7%
Ronald Baron 10.8%
^BCG and Ronald Baron disclaim beneficial ownership of
shares held by their controlled entities (or the investment
advisory clients thereof) to the extent such shares are held
by persons other than BCG and Ronald Baron. BAMCO and
BCM disclaim beneficial ownership of shares held by their
investment advisory clients to the extent such shares are held
by persons other than BAMCO, BCM and their affiliates.
# The percentages reported are with respect to Class A stock only, which has one
vote per share. The Issuer's Class B stock has eight votes per share, making
the total combined voting percentage for the Reporting Persons hereunder equal
to 1.27% of the combined voting power of the Issuer's outstanding voting
securities.
Page 9 of 12 Pages
(c) Number of shares as to which such person has:
(i) sole power to vote or direct the vote:
BCG: 0
BAMCO: 0
BCM: 0
BSC: 0
BGF: 0
Ronald Baron: 0
(ii) shared power to vote or direct the vote:
BCG: 1,617,666
BAMCO: 1,455,666
BCM: 162,000
BGF: 1,091,096
Ronald Baron: 1,617,666
(iii) sole power to dispose or to direct
the disposition of:*
BCG: 0
BAMCO: 0
BCM: 0
BSC: 0
BGF: 0
Ronald Baron: 0
(iv) shared power to dispose or direct
the disposition of:*
BCG: 1,756,166
BAMCO: 1,584,166
BCM: 172,000
BGF: 1,091,096
Ronald Baron: 1,756,166
Item 5. OWNERSHIP OF 5% OR LESS OF A CLASS
Not applicable.
Item 6. OWNERSHIP OF MORE THAN 5% ON BEHALF OF ANOTHER PERSON
The advisory clients of BAMCO and BCM have the right to receive
or the power to direct the receipt of dividends from, or the proceeds
from the sale of, the Issuer's common stock in their accounts. To the
best of the Filing Persons' knowledge, no such person has such interest
relating to more than 5% of the outstanding class of securities.
Item 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT
HOLDING COMPANY
BAMCO and BCM are subsidiaries of BCG. BSC and BGF are advisory
clients of BAMCO. Ronald Baron owns a controlling interest in BCG.
Item 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
See Item 3.
* By virtue of investment advisory agreements with their respective
clients, BAMCO and BCM have been given the discretion to dispose
of the securities in the advisory accounts. All such discretionary agreements,
are however, revocable.
Page 10 of 12 Pages
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 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.
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 9, 2008
Baron Capital Group, Inc.,
BAMCO, Inc., and
Baron Capital Management, Inc.
By:
/s/ Ronald Baron
_______________________________________
Ronald Baron, Chairman and CEO
Baron Growth Fund
By:
/s/ Ronald Baron
_______________________________________
Ronald Baron, CEO
Ronald Baron, Individually
By:
/s/ Ronald Baron
_______________________________________
Ronald Baron
Page 11 of 12 Pages
Joint Filing Agreement
The undersigned each hereby agree that the Schedule 13G Amendment No. 5 dated
April 9, 2008 which relates to the class A common stock of DSW Inc. to be
filed jointly on behalf of each of them for the reasons stated therein, and
any amendments thereto shall be filed jointly by the undersigned.
Dated: April 9, 2008
Baron Capital Group, Inc.,
BAMCO, Inc., and
Baron Capital Management, Inc.
By:
/s/ Ronald Baron
_______________________________________
Ronald Baron, Chairman and CEO
Baron Growth Fund
By:
/s/ Ronald Baron
_______________________________________
Ronald Baron, CEO
Ronald Baron, Individually
By:
/s/ Ronald Baron
_______________________________________
Ronald Baron