UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)
ALTERMAN INVESTMENT FUND, INC.
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(Name of Issuer)
Common Stock, $2.50 Par Value
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(Title of Class of Securities)
021447 10 7
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(CUSIP Number)
Robert F. Dow, 2800 One Atlantic Center, 1201 West Peachtree
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Street, Atlanta, Georgia 30309-3400; (404) 873-8706
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
April 4, 1988, April 11, 1988, January 14, 1993
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and August 8, 1996
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
Check the following box if a fee is being paid with the statement [ ]. (A fee is
not required only if the reporting 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.)
Note: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.
*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).
337696.1
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CUSIP NO. 021447 10 7 Page 2 of 6
SCHEDULE 13D
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1 Name of Reporting Person S.S. or I.R.S. Identification No. of Above Person
Malcolm Alterman
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2 Check the Appropriate Box if a Member of a Group (a)[ ]
(b)[ ]
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3 SEC Use Only
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4 Source of Funds
AF, 00
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5 Check Box if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(E) [ ]
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6 Citizenship or Place of Organization
Georgia
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7 Sole Voting Power
45,295
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8 Shared Voting Power
40,479*
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9 Sole Dispositive Power
45,295
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10 Shared Dispositive Power
40,479*
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11 Aggregate Amount Beneficially Owned by Each Reporting Person
85,774*
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12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
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13 Percent of Class Represented by Amount in Row (11)
10.8%
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14 Type of Reporting Person
IN
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SEE INSTRUCTIONS BEFORE FILLING OUT
337696.1
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CUSIP NO. 021447 10 7 Page 3 of 6
* Includes 899 shares held as Trustee for the estate of his deceased
wife. Includes 19,280 shares held as Co-Trustee of three trusts
established under the will of Esther Alterman.
Includes 20,300 shares held by Malcolm Alterman Limited Partnership
(the "Partnership"). Mr. Alterman is a limited partner in the
Partnership and a stockholder and the President of B.M.C. (Alterman),
Inc., the general partner of the Partnership.
337696.1
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CUSIP NO. 021447 10 7 Page 4 of 6
Item 1. Security and Issuer.
This statement relates to the Common Stock, $2.50 par value, of
Alterman Investment Fund, Inc., a Delaware corporation (the "Company"). The
principal executive offices of the Company are located at:
Suite 104
1218 West Paces Ferry Road, N.W.
Atlanta, Georgia 30327
Item 2. Identity and Background.
(a) (i) Malcolm Alterman
(ii) Alterman Properties, Ltd.
3200 Professional Parkway, Suite 265
Atlanta, Georgia 30339
(iii) General Partner and Manager,
Alterman Properties, Ltd. (See (b) above)
(iv) None
(v) None
(vi) United States
Item 3. Source and Amount of Funds or Other Consideration.
On April 4, 1988, Esther Alterman, the mother of Malcolm Alterman,
Joanne A. Singer and Paula A. Kaplan, made a gift of 26,643 shares of Common
Stock of the Company to the reporting person.
On April 11, 1989, Esther Alterman made a gift of 4,100 shares of
Common Stock of the Company to the reporting persons.
On January 14, 1993, Esther Alterman made the following gifts of shares
of Common Stock of the Company to trusts for the benefit of the reporting
persons, as follows:
Malcolm Alterman 6,427 shares
Joanne A. Singer 6,427 shares
Paula A. Kaplan 6,426 shares
Malcolm Alterman, Joanne A. Singer and Paula A. Kaplan are the
Co-Trustees of each of these trusts.
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CUSIP NO. 021447 10 7 Page 5 of 6
On August 8, 1996, the reporting person transferred 20,300 shares to
the Partnership as a capital contribution. This transfer was made for estate
planning purposes.
Item 4. Purpose of Transaction.
The shares of Common Stock were received pursuant to gift and estate
transactions, the purpose of which was to effect an intra-family distribution of
wealth for estate planning purposes. See Item 3 above. The reporting person has
no plans or proposals which relate to or would result in any of the occurrences
listed in the instructions to Item 4 of Schedule 13D.
On August 8, 1996, the reporting person transferred 20,300 shares to
the Partnership as a capital contribution. This transfer was made for estate
planning purposes.
Item 5. Interest in Securities of the Issuer.
(a) and (b) See Items 7, 8, 9, 10, 11 and 13 of cover pages.
(c) None.
(d) None.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships
with Respect to the Issuer.
None.
Item 7. Material to be Filed as Exhibits.
None.
337696.1
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CUSIP NO. 021447 10 7 Page 6 of 6
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.
/s/ Malcolm Alterman 8-8-96
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Malcolm Alterman Date
337696.1
