UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Lifetime Brands, Inc.
(Name of Issuer)
Common Stock, par value $.01 per share
(Title of Class of Securities)
53222Q103
(CUSIP Number)
December 31, 2005
(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
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 or 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 1 of 6
CUSIP No. 53222Q103
1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Schwartz Investment Counsel, Inc. ("SICI"), FEIN 38-2325495
and Schwartz Investment Trust ("SIT"), on behalf of its series
Funds, Schwartz Value Fund, FEIN 31-6456713 and Ave Maria Catholic
Values Fund, FEIN 38-3594145
- ---------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
- ---------------------------------------------------------------------------
3. SEC USE ONLY
- ---------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
SICI - Michigan
SIT - Ohio
- ---------------------------------------------------------------------------
5. SOLE VOTING POWER
NUMBER OF
SHARES SICI-251,668 shares
BENEFICIALLY SIT-480,000 shares
OWNED BY ---------------------------------------------
EACH 6. SHARED VOTING POWER
REPORTING
PERSON 0
WITH ---------------------------------------------
7. SOLE DISPOSITIVE POWER
SICI-251,668 shares
SIT-480,000 shares
---------------------------------------------
8. SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
SICI-251,668 shares
SIT-480,000 shares
- -------------------------------------------------------------------------
Page 2 of 6
- -------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN
ROW (9) EXCLUES CERTAIN SHARES [ ]
- -------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
SICI-2.25%
SIT-4.3%
- -------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON
SICI - IA
SIT - IV
- -------------------------------------------------------------------------
Page 3 of 6
Item 1.
(a) Name of Issuer
Lifetime Brands, Inc.
(b) Address of Issuer's Principal Executive Offices
One Merrick Ave.
Westbury, NY 11590
Item 2.
(a) Name of Person Filing
Schwartz Investment Counsel, Inc. ("SICI") and
Schwartz Investment Trust ("SIT")
(b) Address of Principal Business Office or, if none, Residence
3707 W. Maple Rd., Suite 100
Bloomfield Hills, MI 48301
(c) Citizenship: SICI-MI, SIT-OH
(d) Title of Class of Securities: Common Stock, par value $.01 per share
(e) CUSIP Number: 53222Q103
Item 3. If this statement is filed pursuant to (s)240.13d-1(b), or
(s)240.13d-2(b), or (c), check whether the person
filing is a:
(d) [X] Investment company registered under section 8 of the
Investment Company Act of 1940 (15 U.S.C. 80a-8).
(e) [X] An investment adviser in accordance with Section
240.13d-1(b)(1)(ii)(E).
Page 4 of 6
Item 4. Ownership
(a) Amount Beneficially Owned:
SICI-251,668 shares, SIT-480,000 shares
(b) Percent of Class
SICI-2.25%, SIT-4.3%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote
SICI-251,668 shares, SIT-480,000 shares
(ii) shared power to vote or to direct the vote
(iii) sole power to dispose or to direct the disposition of
SICI-251,668 shares, SIT-480,000 shares
(iv) shared power to dispose or to direct the disposition of
Item 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of
more than five percent of the class of securities, check the following [ ].
Page 5 of 6
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
Page 6 of 6
Item 10. Certification
(a) The following certification shall be included if the statement is
filed pursuant to 240.13d-1(b):
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.
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.
February 8, 2006 February 8, 2006
- ---------------------------------- ----------------------------------------
Date Date
/s/ George P. Schwartz /s/ George P. Schwartz
- ---------------------------------- ----------------------------------------
Signature Signature
George P. Schwartz, CFA, President George P. Schwartz, CFA, President
Schwartz Investment Counsel, Inc. Schwartz Investment Trust
- ---------------------------------- ----------------------------------------
Name/Title Name/Title