SC 13D 1 blls13d.txt OMB APPROVAL OMB Number:3235-0145 Expires: August 31, 1999 Estimated average burden hours per response 14.90 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. ) Billserv.com (Name of Issuer) Common Stock (Title of Class of Securities) 090181108 (CUSIP Number) May 10, 2001 (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(f) * 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). Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1745 (3-98) Page 1 of 9 CUSIP No. 090181108 13D Page 2 of 9 ---------------------------------------------------------------- 1 NAME OF REPORTING PERSONS IRS IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) RS Investment Management Co. LLC ---------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a)/ / (b)/ / ---------------------------------------------------------------- 3 SEC USE ONLY ---------------------------------------------------------------- 4 SOURCE OF FUNDS WC ---------------------------------------------------------------- 5 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware ---------------------------------------------------------------- NUMBER OF 6 SOLE VOTING POWER SHARES -0- BENEFICIALLY --------------------------------------- OWNED BY 7 SHARED VOTING POWER EACH -4,113,500- REPORTING --------------------------------------- PERSON 8 SOLE DISPOSITIVE POWER WITH -0- --------------------------------------- 9 SHARED DISPOSITIVE POWER -4,113,500- ---------------------------------------------------------------- 10 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -4,113,500- ---------------------------------------------------------------- 11 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions) ---------------------------------------------------------------- 12 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 22.2% ---------------------------------------------------------------- 13 TYPE OF REPORTING PERSON (See Instructions) OO, HC ---------------------------------------------------------------- CUSIP No. 090181108 13D Page 3 of 9 ---------------------------------------------------------------- 1 NAME OF REPORTING PERSONS IRS IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) RS Investment Management, L.P. ---------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a)/ / (b)/ / ---------------------------------------------------------------- 3 SEC USE ONLY ---------------------------------------------------------------- 4 SOURCE OF FUNDS WC ---------------------------------------------------------------- 5 CITIZENSHIP OR PLACE OF ORGANIZATION California ---------------------------------------------------------------- NUMBER OF 6 SOLE VOTING POWER SHARES -0- BENEFICIALLY --------------------------------------- OWNED BY 7 SHARED VOTING POWER EACH -4,113,500- REPORTING --------------------------------------- PERSON 8 SOLE DISPOSITIVE POWER WITH -0- --------------------------------------- 9 SHARED DISPOSITIVE POWER -4,113,500- ---------------------------------------------------------------- 10 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -4,113,500- ---------------------------------------------------------------- 11 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions) ---------------------------------------------------------------- 12 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 22.2% ---------------------------------------------------------------- 13 TYPE OF REPORTING PERSON (See Instructions) IA, PN ---------------------------------------------------------------- CUSIP No. 090181108 13D Page 4 of 9 ---------------------------------------------------------------- 1 NAME OF REPORTING PERSONS IRS IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) RS Diversified Growth Fund ---------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a)/ / (b)/ / ---------------------------------------------------------------- 3 SEC USE ONLY ---------------------------------------------------------------- 4 SOURCE OF FUNDS WC ---------------------------------------------------------------- 5 CITIZENSHIP OR PLACE OF ORGANIZATION Massachusetts ---------------------------------------------------------------- NUMBER OF 6 SOLE VOTING POWER SHARES -0- BENEFICIALLY --------------------------------------- OWNED BY 7 SHARED VOTING POWER EACH -3,114,200- REPORTING --------------------------------------- PERSON 8 SOLE DISPOSITIVE POWER WITH -0- --------------------------------------- 9 SHARED DISPOSITIVE POWER -3,114,200- ---------------------------------------------------------------- 10 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -3,114,200- ---------------------------------------------------------------- 11 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions) ---------------------------------------------------------------- 12 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 16.8% ---------------------------------------------------------------- 13 TYPE OF REPORTING PERSON (See Instructions) IV ---------------------------------------------------------------- CUSIP No. 090181108 13D Page 5 of 9 ITEM 1. This Schedule 13D is filed with respect to the Common Stock of Billserv.com. ITEM 2. This Schedule 13D is filed on behalf of the following: I. (a)RS Investment Management Co. LLC is a Delaware Limited Liability Company. (b) 388 Market Street, Ste 200, San Francisco, CA 94111 (c) holding company (d) no convictions in criminal proceedings (e) no civil or administrative proceedings II. (a)RS Investment Management, L.P. is a California Limited Partnership. (b) 388 Market Street, Ste 200, San Francisco, CA 94111 (c) registered investment adviser (d) no convictions in criminal proceedings (e) no civil or administrative proceedings III. (a)RS Diversified Growth Fund is a series of a Massachusetts Business Trust. (b) 388 Market Street, Ste 200, San Francisco, CA 94111 (c) investment company (d) no convictions in criminal proceedings (e) no civil or administrative proceedings CUSIP No. 090181108 13D Page 6 of 9 ITEM 3 The securities with respect to which this Schedule 13D is filed were purchased by Funds managed by RSIM, L.P. and RS Growth Group LLC using working capital contributed by the Funds' respective partners and shareholders. ITEM 4 This schedule is being filed based on a change in the ownership position of Funds managed by RSIM, L.P. and RS Growth Group LLC due to acquisitions. All shares are held for investment purposes only. The reporting persons may sell all or part or acquire additional securities of the Issuer depending on market conditions and other economic factors. ITEM 5 The aggregate number and percentage of the class of securities identified pursuant to Item 1 of this Schedule 13D that are beneficially owned by the persons listed in Item 2 are as follows: RS Investment Mgmt Co. LLC 4,113,500 22.2% RS Investment Mgmt, L.P. 4,113,500 22.2% RS Diversified Growth Fund 3,114,200 16.8% All percentages in this table are based, pursuant to 13D-1(e) of the Securities Exchange Act of 1934, as amended, on 18,490,631 shares of Common Stock of the Issuer outstanding as of May 10, 2001. RS Investment Mgmt Co. LLC is a Delaware Limited Liability Company that is deemed to have shared dispositive power over 4,113,500 shares of the Issuer. RS Investment Mgmt, L.P. is a California Limited Partnership that is deemed to have shared dispositive power over 4,113,500 shares of the Issuer. RS Diversified Growth Fund is an investment company that is part of a Massachusetts Business Trust with shared dispositive power over 3,114,200 shares of the Issuer. CUSIP No. 090181108 13D Page 7 of 9 The following is a list of transactions by the filing parties in the last 60 days: ACCT DATE SHARES NET TRADE TYPE sub-advised acct 03-12-01 2300 6,802 open mkt purch dgf 03-12-01 2200 6,507 open mkt purch dgf 03-16-01 2000000 5,000,000 private placement sub-advised acct 03-19-01 100 302 open mkt purch sub-advised acct 03-20-01 9200 26,698 open mkt purch sub-advised acct 03-21-01 700 1,942 open mkt purch dgf 03-21-01 1500 4,162 open mkt purch sub-advised acct 03-28-01 2000 5,000 open mkt purch dgf 03-28-01 1600 4,000 open mkt purch sub-advised acct 03-29-01 12200 30,500 open mkt purch dgf 03-29-01 9300 23,250 open mkt purch sub-advised acct 03-30-01 4300 8,600 open mkt purch dgf 03-30-01 5700 11,400 open mkt purch sub-advised acct 04-03-01 800 1,550 open mkt purch dgf 04-03-01 3700 7,169 open mkt purch sub-advised acct 04-04-01 2800 5,425 open mkt purch dgf 04-04-01 12700 24,606 open mkt purch RS acct 05-10-01 3600 10,963 open mkt sale RS acct 05-10-01 6000 18,271 open mkt sale dgf 05-11-01 4700 13,982 open mkt sale CUSIP No. 090181108 13D Page 8 of 9 ITEM 6 Please refer to Item 5. ITEM 7 The following exhibits are filed herewith: Exhibit A - Joint Filing Agreement ITEM 8 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. Dated: May 11, 2001 RS INVESTMENT MANAGEMENT CO. LLC By: /s/ G. Randall Hecht G. Randall Hecht Chief Executive Officer RS INVESTMENT MANAGEMENT, L.P. By: /s/ G. Randall Hecht G. Randall Hecht Chief Executive Officer RS DIVERSIFIED GROWTH FUND By: RS Investment Management, L.P. Investment Adviser By: /s/ G. Randall Hecht G. Randall Hecht Chief Executive Officer CUSIP No. 090181108 13D Page 9 of 9 EXHIBIT A JOINT FILING AGREEMENT The undersigned hereby agree that they are filing this statement jointly pursuant to Rule 13d-1(f)(1). Each of them is responsible for the timely filing of the Schedule 13D and any amendments thereto, and for the completeness and accuracy of the information concerning such person contained therein; but none of them is responsible for the completeness or accuracy of the information concerning the other persons making the filing, unless such person knows or has reason to believe that such information is accurate. Dated: May 11, 2001 RS INVESTMENT MANAGEMENT CO. LLC By: /s/ G. Randall Hecht G. Randall Hecht Chief Executive Officer RS INVESTMENT MANAGEMENT, L.P. By: /s/ G. Randall Hecht G. Randall Hecht Chief Executive Officer RS DIVERSIFIED GROWTH FUND By: RS Investment Management, L.P. Investment Adviser By: /s/ G. Randall Hecht G. Randall Hecht Chief Executive Officer