UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13G
Under the Securities Exchange Act of 1934
(Amendment No._____________ )*
Williams-Sonoma, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
969904101
(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 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 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).
(continued on the following 5 pages)
SCHEDULE 13G Page 2 of 5 pages
CUSIP NO. 969904101
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
W.P. Stewart & Co., Ltd. Tax ID: 1-98-0201080
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Hamilton, Bermuda
--------------------------------------------------------------------------------
NUMBER OF 5. SOLE VOTING POWER
SHARES 7,574,270
-----------------------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY NONE
-----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 7,574,270
-----------------------------------------------------------------
PERSON 8. SHARED DISPOSITIVE POWER
WITH NONE
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,574,270
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.6%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
Investment Adviser (IA)
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
SCHEDULE 13G Page 3 of 5 pages
CUSIP NO. 969904101
ITEM 1(a). Name of Issuer
Williams-Sonoma, Inc.
ITEM 1(b). Address of Issuer's Principal Executive Offices
3250 Van Ness Avenue
San Francisco, CA 94109
ITEM 2(a). Names of Person Filing
W.P. Stewart & Co., Ltd.
ITEM 2(b). Address of Principal Business Office or, if none, Residence
Trinity Hall
43 Cedar Avenue
P.O. Box HM 2905
Hamilton HM LX
Bermuda
ITEM 2(c). Citizenship
Bermuda
ITEM 2(d). Title of Class of Securities
Common Stock
ITEM 2(e). CUSIP Number
969904101
ITEM 3. If this statement is filed pursuant to ss.ss.240.13d-1(b) or
240.13d-2(b) or (c), check whether the person filing is a:
(e) |X| An investment adviser in accordance with
ss.240.13d-1(b)(1)(ii)(E).
ITEM 4. Ownership.
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount Beneficially Owned:
SCHEDULE 13G Page 4 of 5 pages
CUSIP NO. 969904101
7,574,270
(b) Percent of Class:
6.6%
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote 7,574,270
(ii) Shared power to vote or to direct the vote NONE
(iii) Sole power to dispose or to direct the disposition of
7,574,270
(iv) Shared power to dispose or to direct the disposition of
NONE
ITEM 5. Ownership of Five Percent or Less of a Class
Not Applicable
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
ITEM 10. Certification
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.
SCHEDULE 13G Page 5 of 5 pages
CUSIP NO. 969904101
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 9, 2006
----------------------------------
Date
/s/ Rocco Macri
----------------------------------
Signature
Rocco Macri - Managing Director & Chief Operating Officer
---------------------------------------------------------
Name/Title