UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 5)
Ryder Systems Inc.
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(Name of Issuer)
$.50 Common Stock
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(Title of Class of Securities)
783549108
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(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
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 783549108 Page 2 of 4
Greenhaven Associates, Inc. Schedule 13G
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1 NAME OF REPORTING PERSON
S. S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Greenhaven Associates, Inc.
Tax ID #13-3436799
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Westchester County, New York, USA
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5 SOLE VOTING POWER
Number of
Shares 301,800
Beneficially -----------------------------------------------
owned by 6 SHARED VOTING POWER
Each
Reporting 0
Person ----------------------------------------------
7 SOLE DISPOSITIVE POWER
301,800
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8 SHARED DISPOSITIVE POWER
2,690,600
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,992,400
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
4.67%
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12 TYPE OF REPORTING PERSON*
1A
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CUSIP NO 783549108 Page 3 of 4
Greenhaven Associates, Inc. Schedule 13G
Item 1 (a) Ryder Systems, Inc.
(b) 3600 N. W. 82nd Avenue
Miami, Florida 33166
Item 2 (a) Greenhaven Associates, Inc.
(b) Three Manhattanville Road
Purchase, New York 10577
(c) United States
(d) Common Shares
(e) CUSIP #783549108
Item 3 Investment Adviser registered under Section 203 of the Investment
Advisers Act of 1940.
Item 4 (a) 2,992,400
(b) 4.67%
(c) (I) 301,800
(II) 0
(III) 301,800
(IV) 2,690,600
Item 5 NOT APPLICABLE
Item 6 Greenhaven Associates, Inc. (Greenhaven) has investment discretion
with respect to the securities to which this statement relates.
Greenhaven has sole power to vote to the extent of 301,800 shares.
Clients of Greenhaven are the direct owners of all other shares
reported as beneficially owned. Such clients have the sole right to
receive and the power to direct the receipt of dividends from, and
the proceeds from the sale of such securities. No such client has an
interest that relates to more than 5% of the shares.
Item 7 NOT APPLICABLE
Item 8 NOT APPLICABLE
Item 9 NOT APPLICABLE
CUSIP NO 783549108 Page 4 of 4
Greenhaven Associates, Inc. Schedule 13G
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.
January 30, 2004
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(Date)
Edgar Wachenheim III
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(Signature)
Edgar Wachenheim III, Chairman and CEO
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(Name/Title)