13F-HR 1 d57401_13f-hr.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F-HR Form 13F COVER PAGE Report for the Calendar Year of Quarter Ended: September 30, 2003 Check here if Amendment |_|; Amendment Number: This Amendment (Check only one.): |_| is a restatement. |_| adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Vector Capital Management, LLC Address: 383 Main Avenue Norwalk, CT 06851 Form 13F File Number: 28- The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: John McCleary Title: Controller Phone: (203) 840-3600 Signature, Place, and Date of Signing: /s/ John McCleary Norwalk, Connecticut November 12, 2003 [Signature] [City, State] [Date] Report Type (Check only one.): |X| 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) |_| 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) |_| 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 209 Form 13F Information Table Value Total: $ 81,187 (thousands) List of Other Included Managers: None Form 13F INFORMATION TABLE

INTERNATIONAL PAPER CO common 460146103 695 17,800 SH Sole 17,800 ITT INDUSTRIES INC common 450911102 114 1,900 SH Sole 1,900 J C PENNEY CO INC common 708160106 506 23,700 SH Sole 23,700 J P MORGAN CHASE & CO common 46625H100 17 500 SH Sole 500 JABIL CIRCUIT INC common 466313103 703 27,000 SH Sole 27,000 JEFFERSON PILOT CORP common 475070108 568 12,800 SH Sole 12,800 JONES APPAREL GROUP INC common 480074103 509 17,000 SH Sole 17,000 KELLOGG CO common 487836108 384 11,500 SH Sole 11,500 KEYCORP NEW common 493267108 251 9,800 SH Sole 9,800 KNIGHT-RIDDER INC common 499040103 100 1,500 SH Sole 1,500 KOHLS CORP common 500255104 64 1,200 SH Sole 1,200 LEGGETT & PLATT INC common 524660107 141 6,500 SH Sole 6,500 LEXMARK INTERNATIONAL INC CL A common 529771107 176 2,800 SH Sole 2,800 LIMITED BRANDS INC common 532716107 478 31,700 SH Sole 31,700 LINCOLN NATIONAL CORP-IND common 534187109 492 13,900 SH Sole 13,900 LOEWS CORP common 540424108 606 15,000 SH Sole 15,000 MARRIOTT INTERNATIONAL INC NEW CL A common 571903202 77 1,800 SH Sole 1,800 MARSH & MCLENNAN COMPANIES INC common 571748102 757 15,900 SH Sole 15,900 MARSHALL & ILSLEY CORP common 571834100 91 2,900 SH Sole 2,900 MAXIM INTEGRATED PRODUCTS INC common 57772K101 213 5,400 SH Sole 5,400 MAYTAG CORP common 578592107 562 22,500 SH Sole 22,500 MBIA INC common 55262C100 577 10,500 SH Sole 10,500 MBNA CORP common 55262L100 809 35,500 SH Sole 35,500 MCKESSON CORP common 58155Q103 789 23,700 SH Sole 23,700 MEADWESTVACO CORP common 583334107 423 16,600 SH Sole 16,600 MEDIMMUNE INC common 584699102 370 11,200 SH Sole 11,200 MEDTRONIC INC common 585055106 1,070 22,800 SH Sole 22,800 MELLON FINL CORP common 58551A108 1,121 37,200 SH Sole 37,200 MERCURY INTERACTIVE CORP common 589405109 557 12,275 SH Sole 12,275 MEREDITH CORP common 589433101 171 3,700 SH Sole 3,700 MERRILL LYNCH & CO INC common 590188108 728 13,600 SH Sole 13,600 METLIFE INC common 59156R108 53 1,900 SH Sole 1,900 MGIC INVESTMENT CORP-WISC common 552848103 885 17,000 SH Sole 17,000 MICROSOFT CORP common 594918104 303 10,900 SH Sole 10,900 MILLIPORE CORP common 601073109 295 6,400 SH Sole 6,400 MOLEX INC common 608554101 193 6,751 SH Sole 6,751 MONSTER WORLDWIDE INC common 611742107 440 17,467 SH Sole 17,467 MORGAN STANLEY common 617446448 151 3,000 SH Sole 3,000 NATIONAL CITY CORP common 635405103 642 21,800 SH Sole 21,800 NAVISTAR INTERNATIONAL CORP NEW common 63934E108 723 19,400 SH Sole 19,400 NETWORK APPLIANCE INC common 64120L104 147 7,155 SH Sole 7,155 NEW YORK TIMES CO-CL A common 650111107 461 10,600 SH Sole 10,600 NOBLE CORP NEW common G65422100 54 1,600 SH Sole 1,600 NORFOLK SOUTHERN CORP common 655844108 450 24,300 SH Sole 24,300 NORTHERN TRUST CORP common 665859104 247 5,811 SH Sole 5,811 NORTHROP GRUMMAN CORP common 666807102 78 900 SH Sole 900 NOVELLUS SYSTEMS INC common 670008101 608 18,012 SH Sole 18,012 NUCOR CORP common 670346105 395 8,600 SH Sole 8,600 NVIDIA CORP common 67066G104 352 22,141 SH Sole 22,141 PACCAR INC common 693718108 568 7,609 SH Sole 7,609 PARKER HANNIFIN CORP common 701094104 224 5,000 SH Sole 5,000 PERKINELMER INC common 714046109 185 12,100 SH Sole 12,100 PHELPS DODGE CORP common 717265102 744 15,900 SH Sole 15,900 PLUM CREEK TIMBER CO INC COM common 729251108 855 33,600 SH Sole 33,600 PPG INDUSTRIES INC common 693506107 26 500 SH Sole 500 PRICE T ROWE GROUP INC common 74144T108 1,122 27,185 SH Sole 27,185 PRINCIPAL FINANCIAL GROUP INC common 74251V102 232 7,500 SH Sole 7,500 PROCTER & GAMBLE CO common 742718109 130 1,400 SH Sole 1,400 PROGRESSIVE CORP-OHIO common 743315103 166 2,400 SH Sole 2,400 QLOGIC CORP common 747277101 181 3,853 SH Sole 3,853 QUEST DIAGNOSTICS INC common 74834L100 85 1,400 SH Sole 1,400 RAYTHEON CO COM NEW common 755111507 392 14,000 SH Sole 14,000 REGIONS FINANCIAL CORP common 758940100 86 2,500 SH Sole 2,500 ROBERT HALF INTERNATIONAL INC common 770323103 371 19,000 SH Sole 19,000 ROCKWELL AUTOMATION INC common 773903109 391 14,900 SH Sole 14,900 ROHM & HAAS CO common 775371107 779 23,300 SH Sole 23,300 SABRE HOLDINGS CORP CL A common 785905100 748 34,800 SH Sole 34,800 SAFECO CORP common 786429100 581 16,477 SH Sole 16,477 SAFEWAY INC common 786514208 340 14,800 SH Sole 14,800 SARA LEE CORP common 803111103 744 40,500 SH Sole 40,500 SCHLUMBERGER LTD common 806857108 537 11,100 SH Sole 11,100 SCIENTIFIC ATLANTA INC common 808655104 464 14,900 SH Sole 14,900 SEALED AIR CORP NEW common 81211K100 548 11,600 SH Sole 11,600 SIGMA-ALDRICH CORP common 826552101 372 7,170 SH Sole 7,170 SNAP-ON INC common 833034101 290 10,500 SH Sole 10,500 SOUTHTRUST CORP common 844730101 31 1,070 SH Sole 1,070 SOUTHWEST AIRLINES CO common 844741108 377 21,300 SH Sole 21,300 ST JUDE MEDICAL INC common 790849103 876 16,300 SH Sole 16,300 ST PAUL COMPANIES INC common 792860108 344 9,300 SH Sole 9,300 STARBUCKS CORP common 855244109 304 10,540 SH Sole 10,540 STATE STREET CORP common 857477103 320 7,100 SH Sole 7,100 STRYKER CORP common 863667101 30 400 SH Sole 400 SUNGARD DATA SYSTEMS INC common 867363103 516 19,600 SH Sole 19,600 SUNTRUST BANKS INC common 867914103 471 7,800 SH Sole 7,800 SUPERVALU INC common 868536103 93 3,900 SH Sole 3,900 SYNOVUS FINANCIAL CORP common 87161C105 522 20,900 SH Sole 20,900 SYSCO CORP common 871829107 101 3,100 SH Sole 3,100 TARGET CORP common 87612E106 222 5,900 SH Sole 5,900 TEMPLE INLAND INC common 879868107 583 12,000 SH Sole 12,000 TERADYNE INC common 880770102 766 41,200 SH Sole 41,200 TEXTRON INC common 883203101 864 21,900 SH Sole 21,900 THERMO ELECTRON CORP common 883556102 74 3,400 SH Sole 3,400 THOMAS & BETTS CORP common 884315102 133 8,400 SH Sole 8,400 TIFFANY & CO NEW common 886547108 784 21,000 SH Sole 21,000 TJX COMPANIES INC NEW common 872540109 538 27,700 SH Sole 27,700 TORCHMARK CORP common 891027104 158 3,900 SH Sole 3,900 TRANSOCEAN INC. common G90078109 122 6,100 SH Sole 6,100 TRIBUNE CO NEW common 896047107 119 2,600 SH Sole 2,600

UNION PLANTERS CORP common 908068109 601 19,000 SH Sole 19,000 UNIVISION COMMUNICATIONS INC CL A common 914906102 195 6,100 SH Sole 6,100 UNOCAL CORP common 915289102 3 100 SH Sole 100 US BANCORP DEL COM NEW common 902973304 62 2,600 SH Sole 2,600 VERITAS SOFTWARE CORP common 923436109 426 13,558 SH Sole 13,558 VERIZON COMMUNICATIONS common 92343V104 289 8,900 SH Sole 8,900 VIACOM INC-CL B common 925524308 735 19,200 SH Sole 19,200 WACHOVIA CORP 2ND NEW COM common 929903102 564 13,700 SH Sole 13,700 WALGREEN CO common 931422109 735 24,000 SH Sole 24,000 WATERS CORP common 941848103 365 13,300 SH Sole 13,300 WATSON PHARMACEUTICALS INC common 942683103 575 13,800 SH Sole 13,800 WELLPOINT HEALTH NETWORKS INC NEW common 94973H108 108 1,400 SH Sole 1,400 WEYERHAEUSER CO common 962166104 403 6,900 SH Sole 6,900 YUM BRANDS INC common 988498101 33 1,100 SH Sole 1,100 ------ --------- 81,187 2,509,412 ====== =========

VECTOR CAPITAL MANAGEMENT LLC 13F-HR