<PAGE>
===============================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K/A
Amendment No.1
To The
Mark One:
[_] Annual Report Pursuant to Section 13 or 15(d) of The Securities
Exchange Act of 1934
For the Fiscal Year ended December 31, 1997
or
[X] Transition Report Pursuant to Section 13 or 15(d) of The Securities
Exchange Act of 1934
For the Transition Period from May 1, 1997 to December 31, 1997
----------- -----------------
Commission file No. 1-9597
PIMCO ADVISORS HOLDINGS L.P.
(Exact name of registrant as specified in its charter)
Delaware 13-3412614
- --------------------------------------------------------------------------------
(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
800 Newport Center Drive, Newport Beach, CA. 92660
- --------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (949) 717-7022
Securities registered pursuant to Section 12(b) of the Act:
Name of each exchange
Title of each class which registered
------------------- ----------------
Units of Limited Partner Interest New York Stock Exchange
- --------------------------------------------------------------------------------
Securities registered pursuant to Section 12(g) of the Act:
None
- --------------------------------------------------------------------------------
(Title of Class)
- --------------------------------------------------------------------------------
(Title of Class)
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes [X] No [_]
<PAGE>
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K. [X]
The aggregate market value of the units of limited partner interest held by
non-affiliates of the registrant as of March 23, 1998 was $1,567,862,410, based
on the closing price of the units on the New York Stock Exchange on such date.
DOCUMENTS INCORPORATED BY REFERENCE
NONE
2
<PAGE>
PIMCO Advisors Holdings L.P. (the "Company" or "Registrant") hereby amends
its Annual Report on Form 10-K for the year ended December 31, 1997 to include
Restated Financial Data Schedules for (i) the year ended April 30, 1995, (ii)
the quarter ended July 31, 1995, (iii) the quarter ended October 31, 1995, (iv)
the quarter ended January 31, 1996, (v) the year ended April 30, 1996, (vi) the
quarter ended July 31, 1996, (vii) the quarter ended October 31, 1996, (viii)
the quarter ended January 31, 1997, (ix) the year ended April 30, 1997, (x) the
quarter ended July 31, 1997, and (xi) the quarter ended October 31, 1997. The
Amendment is a result of the Company's adoption of Statement of Financial
Accounting Standards No. 128, "Earnings Per Share."
Accordingly, the Registrant hereby amends the following exhibits of its
Annual Report on Form 10-K for the year ended December 31, 1997, as set forth on
the pages attached hereto.
<TABLE>
<C> <S>
Exhibit 27.2 Financial Data Schedule Restated for the year ended April 30, 1995.
Exhibit 27.3 Financial Data Schedule Restated for the quarter ended July 31, 1995.
Exhibit 27.4 Financial Data Schedule Restated for the quarter ended October 31, 1995.
Exhibit 27.5 Financial Data Schedule Restated for the quarter ended January 31, 1996.
Exhibit 27.6 Financial Data Schedule Restated for the year ended April 30, 1996.
Exhibit 27.7 Financial Data Schedule Restated for the quarter ended July 31, 1996.
Exhibit 27.8 Financial Data Schedule Restated for the quarter ended October 31, 1996.
Exhibit 27.9 Financial Data Schedule Restated for the quarter ended January 31, 1997.
Exhibit 27.10 Financial Data Schedule Restated for the year ended April 30, 1997.
Exhibit 27.11 Financial Data Schedule Restated for the quarter ended July 31, 1997.
Exhibit 27.12 Financial Data Schedule Restated for the quarter ended October 31, 1997.
</TABLE>
3
<PAGE>
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, as amended, the Registrant has duly caused this Amendment No. 1 to
be signed on its behalf by the undersigned, thereunto duly authorized.
PIMCO ADVISORS HOLDINGS L.P.
By: /s/ WILLIAM D. CVENGROS
-----------------------
William D. Cvengros,
Chief Executive Officer
Date: June 15, 1998
Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed by the following persons on behalf of the registrant and
in the capacities and on the dates indicated.
<TABLE>
<CAPTION>
Signature Title Date
--------- ----- ----
<S> <C> <C>
/s/ William D. Cvengros Board Member, June 15, 1998
- ------------------------------------- Chief Executive Officer
William D. Cvengros (Principal Executive Officer)
/s/ Robert M. Fitzgerald Board Member, Senior Vice President, June 15, 1998
- ------------------------------------- Chief Financial Officer
Robert M. Fitzgerald (Principal Financial
And Accounting Officer)
/s/ Kenneth M. Poovey Board Member, Chief Operating Officer, June 15, 1998
- ------------------------------------- General Counsel
Kenneth M. Poovey
</TABLE>
4
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
statements of financial condition and statements of income found on pages F-2
and F-3 of the partnership's financial statements located in item 8, and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> APR-30-1995
<PERIOD-START> MAY-01-1994
<PERIOD-END> APR-30-1995
<CASH> 60
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 10,252<F1>
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 96,633<F2>
<CURRENT-LIABILITIES> 10,321
<BONDS> 0
0
0
<COMMON> 0
<OTHER-SE> 86,312<F3>
<TOTAL-LIABILITY-AND-EQUITY> 96,633
<SALES> 0
<TOTAL-REVENUES> 34,282
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 3,461
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 30,821
<INCOME-TAX> 0
<INCOME-CONTINUING> 30,821
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 30,821
<EPS-PRIMARY> 1.21
<EPS-DILUTED> 1.21
<FN>
<F1>Current assets is comprised of Cash ($60), Distribution Receivable ($9,545),
Interest Receivable ($538), and Other Assets ($109).
<F2>Total assets include Current Assets plus Investment in Oppenheimer Capital
($9,707), a Non-trade Note Receivable ($32,193) and Goodwill ($44,481).
<F3>Other Shareholders equity is comprised of General Partner's Capital ($876) and
Limited Partners' Capital ($85,436).
</FN>
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
statements of financial condition and statements of income found on pages 3 and
4 of the partnership's Form 10-Q for the year-to-date, and is qualified in its
entirety by reference to such financial statements.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> APR-30-1996
<PERIOD-START> MAY-01-1995
<PERIOD-END> JUL-31-1995
<CASH> 62
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 8,367<F1>
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 95,786<F2>
<CURRENT-LIABILITIES> 8,464
<BONDS> 0
0
0
<COMMON> 0
<OTHER-SE> 87,322<F3>
<TOTAL-LIABILITY-AND-EQUITY> 95,786
<SALES> 0
<TOTAL-REVENUES> 9,862
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 685
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 9,177
<INCOME-TAX> 0
<INCOME-CONTINUING> 9,177
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 9,177
<EPS-PRIMARY> 0.36
<EPS-DILUTED> 0.36
<FN>
<F1>Current assets is comprised of Cash ($62), Distribution Receivable ($7,655),
Interest Receivable ($538), and Other Assets ($112).
<F2>Total assets include Current Assets plus Investment in Oppenheimer Capital
($11,397), a Non-trade Note Receivable ($32,193) and Goodwill ($43,829).
<F3>other Shareholders equity is comprised of General Partner's Capital ($887)
and Limited Partners' Capital ($86,435).
</FN>
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
statements of financial condition and statements of income found on pages 3 and
4 of the partnership's Form 10-Q for the year-to-date, and is qualified in its
entirety by reference to such financial statements.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> APR-30-1996
<PERIOD-START> MAY-01-1995
<PERIOD-END> OCT-31-1995
<CASH> 10
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 9,557<F1>
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 97,444<F2>
<CURRENT-LIABILITIES> 9,623
<BONDS> 0
0
0
<COMMON> 0
<OTHER-SE> 87,821<F3>
<TOTAL-LIABILITY-AND-EQUITY> 97,444
<SALES> 0
<TOTAL-REVENUES> 20,389
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 1,371
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 19,018
<INCOME-TAX> 0
<INCOME-CONTINUING> 19,018
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 19,018
<EPS-PRIMARY> 0.74
<EPS-DILUTED> 0.74
<FN>
<F1>Current assets is comprised of Cash ($10), Distribution Receivable ($8,875),
Interest Receivable ($538), and Other Assets ($134).
<F2>Total assets include Current Assets plus Investment in Oppenheimer Capital
($12,517), a Non-trade Note Receivable ($32,193) and Goodwill ($43,177).
<F3>Other Shareholders equity is comprised of General Partner's Capital ($892) and
Limited Partners' Capital ($86,929).
</FN>
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
statements of financial condition and statements of income found on pages 3 and
4 of the partnership's Form 10-Q for the year-to-date, and is qualified in its
entirety by reference to such financial statements.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> APR-30-1996
<PERIOD-START> MAY-01-1995
<PERIOD-END> JAN-31-1996
<CASH> 41
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 18,054<F1>
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 116,913<F2>
<CURRENT-LIABILITIES> 18,106
<BONDS> 0
0
0
<COMMON> 0
<OTHER-SE> 98,807<F3>
<TOTAL-LIABILITY-AND-EQUITY> 116,913
<SALES> 0
<TOTAL-REVENUES> 49,711
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 2,056
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 47,655
<INCOME-TAX> 0
<INCOME-CONTINUING> 47,655
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 47,655
<EPS-PRIMARY> 1.85
<EPS-DILUTED> 1.84
<FN>
<F1>Current assets is comprised of Cash ($41), Distribution Receivable ($17,340),
Interest Receivable ($547), and Other Assets ($126).
<F2>Total assets include Current Assets plus Investment in Oppenheimer Capital
($24,142), a Non-trade Note Receivable ($32,193) and Goodwill ($42,524).
<F3>Other Shareholders equity is comprised of General Partner's Capital ($1,002)
and Limited Partners' Capital ($97,805).
</FN>
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENTS OF FINANCIAL CONDITION AND STATEMENTS OF INCOME FOUND ON PAGES F-2
AND F-3 OF THE PARTNERSHIP'S FINANCIAL STATEMENTS LOCATED IN ITEM 8, AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> APR-30-1996
<PERIOD-START> MAY-01-1995
<PERIOD-END> APR-30-1996
<CASH> 35
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 12,523<F1>
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 110,099<F2>
<CURRENT-LIABILITIES> 12,713
<BONDS> 0
0
0
<COMMON> 0
<OTHER-SE> 97,386<F3>
<TOTAL-LIABILITY-AND-EQUITY> 110,099
<SALES> 0
<TOTAL-REVENUES> 61,316<F4>
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 2,720
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 58,596<F4>
<INCOME-TAX> 0
<INCOME-CONTINUING> 58,596<F4>
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 58,596<F4>
<EPS-PRIMARY> 2.28
<EPS-DILUTED> 2.27
<FN>
<F1>Current assets is comprised of Cash ($35), Distribution Receivable ($11,950),
and Interest Receivable ($538).
<F2>Total assets include Current Assets plus Investment in Oppenheimer Capital
($23,362), a Non-trade Note Receivable ($32,193), Other Assets ($128) and
Goodwill ($41,893).
<F3>Other Shareholders equity is comprised of General Partner's Capital ($987) and
Limited Partners' Capital ($96,399).
<F4>Total revenues and the related income categories include a $17,734 gain
resulting from the Quest sale-see the footnotes to the financial statements for
further details.
</FN>
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENTS OF FINANCIAL CONDITION AND STATEMENTS OF INCOME FOUND ON PAGES 3 AND
4 OF THE PARTNERSHIP'S FORM 10-Q FOR THE YEAR-TO-DATE, AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> APR-30-1997
<PERIOD-START> MAY-01-1996
<PERIOD-END> JUL-31-1996
<CASH> 49
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 9,902<F1>
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 109,582<F2>
<CURRENT-LIABILITIES> 10,086
<BONDS> 0
0
0
<COMMON> 0
<OTHER-SE> 99,496<F3>
<TOTAL-LIABILITY-AND-EQUITY> 109,582
<SALES> 0
<TOTAL-REVENUES> 12,280
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 685
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 11,595
<INCOME-TAX> 0
<INCOME-CONTINUING> 11,595
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 11,595
<EPS-PRIMARY> 0.45
<EPS-DILUTED> 0.45
<FN>
<F1>Current assets is comprised of Cash ($49), Distribution Receivable ($9,315),
and interest receivable ($538).
<F2>Total assets include Current Assets plus Investment in Oppenheimer Capital
($26,116), a Non-trade Note Receivable ($32,193), Goodwill ($41,241) and Other
assets ($130).
<F3>Other Shareholders equity is comprised of General Partner's Capital ($1,009)
and Limited Partners' Capital ($98,487).
</FN>
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENTS OF FINANCIAL CONDITION AND STATEMENTS OF INCOME FOUND ON PAGES 3 AND
4 OF THE PARTNERSHIP'S FORM 10-Q FOR THE YEAR-TO-DATE, AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> APR-30-1997
<PERIOD-START> MAY-01-1996
<PERIOD-END> OCT-31-1996
<CASH> 55
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 11,483<F1>
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 112,550<F2>
<CURRENT-LIABILITIES> 11,642
<BONDS> 0
0
0
<COMMON> 0
<OTHER-SE> 100,908<F3>
<TOTAL-LIABILITY-AND-EQUITY> 112,550
<SALES> 0
<TOTAL-REVENUES> 25,588
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 1,371
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 24,217
<INCOME-TAX> 0
<INCOME-CONTINUING> 24,217
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 24,217
<EPS-PRIMARY> 0.93
<EPS-DILUTED> 0.93
<FN>
<F1>Current assets is comprised of Cash ($55), Distribution Receivable ($10,890),
and Interest Receivable ($538).
<F2>Total assets include Current Assets plus Investment in Oppenheimer Capital
($28,153), a Non-trade Note Receivable ($32,193), Goodwill ($40,589) and Other
Assets ($132).
<F3>Other Shareholders equity is comprised of General Partner's Capital ($1,023)
and Limited Partners' Capital ($99,885).
</FN>
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENTS OF FINANCIAL CONDITION AND STATEMENTS OF INCOME FOUND ON PAGES 3 AND
4 OF THE PARTNERSHIP'S FORM 10-Q FOR THE YEAR-TO-DATE, AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> APR-30-1997
<PERIOD-START> MAY-01-1996
<PERIOD-END> JAN-31-1997
<CASH> 72
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 14,624<F1>
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 116,799<F2>
<CURRENT-LIABILITIES> 14,747
<BONDS> 0
0
0
<COMMON> 0
<OTHER-SE> 102,052<F3>
<TOTAL-LIABILITY-AND-EQUITY> 116,799
<SALES> 0
<TOTAL-REVENUES> 41,784
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 2,056
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 39,728
<INCOME-TAX> 0
<INCOME-CONTINUING> 39,728
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 39,728
<EPS-PRIMARY> 1.53
<EPS-DILUTED> 1.52
<FN>
<F1>Current assets is comprised of Cash ($72), Distribution Receivable ($14,005),
and Interest Receivable ($547).
<F2>Total assets include Current Assets plus Investment in Oppenheimer Capital
($29,912), a Non-trade Note Receivable ($32,193), Goodwill ($39,936) and Other
Assets ($134).
<F3>Other Shareholders equity is comprised of General Partner's Capital ($1,034)
and Limited Partners' Capital ($101,018).
</FN>
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENTS OF FINANCIAL CONDITION AND STATEMENTS OF INCOME FOUND ON PAGES F-2
AND F-3 OF THE PARTNERSHIP'S FINANCIAL STATEMENTS LOCATED IN ITEM 8, AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> APR-30-1997
<PERIOD-START> MAY-01-1996
<PERIOD-END> APR-30-1997
<CASH> 91
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 17,719<F1>
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 116,149<F2>
<CURRENT-LIABILITIES> 17,858
<BONDS> 0
0
0
<COMMON> 0
<OTHER-SE> 98,291<F3>
<TOTAL-LIABILITY-AND-EQUITY> 116,149
<SALES> 0
<TOTAL-REVENUES> 56,046<F4>
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 2,720
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 53,326<F4>
<INCOME-TAX> 0
<INCOME-CONTINUING> 53,326<F4>
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 53,326<F4>
<EPS-PRIMARY> 2.06
<EPS-DILUTED> 2.04
<FN>
<F1>Current assets is comprised of Cash ($91), Distribution Receivable ($17,090),
and Interest Receivable ($538).
<F2>Total assets include Current Assets plus Investment in Oppenheimer Capital
($26,796), a Non-trade Note Receivable ($32,193), Other Assets ($136) and
Goodwill ($39,305).
<F3>Other Shareholders equity is comprised of General Partner's Capital ($996) and
Limited Partners' Capital ($97,295).
<F4>Total revenues and the related income categories include a $1,800 gain
resulting from the Quest sale-see the footnotes to the financial statements for
further details.
</FN>
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENTS OF FINANCIAL CONDITION AND STATEMENTS OF INCOME FOUND ON PAGES 3 AND
4 OF THE PARTNERSHIP'S FORM 10-Q FOR THE YEAR-TO-DATE, AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> APR-30-1998
<PERIOD-START> MAY-01-1997
<PERIOD-END> JUL-31-1997
<CASH> 101
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 14,689<F1>
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 118,313<F2>
<CURRENT-LIABILITIES> 14,806
<BONDS> 0
0
0
<COMMON> 0
<OTHER-SE> 103,507<F3>
<TOTAL-LIABILITY-AND-EQUITY> 118,313
<SALES> 0
<TOTAL-REVENUES> 19,585
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 685
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 18,900
<INCOME-TAX> 0
<INCOME-CONTINUING> 18,900
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 18,900
<EPS-PRIMARY> 0.71
<EPS-DILUTED> 0.70
<FN>
<F1>Current assets is comprised of Cash ($101), Distribution Receivable ($14,050),
and Interest Receivable ($538).
<F2>Total assets include Current Assets plus Investment in Oppenheimer Capital
($32,640), a Non-trade Note Receivable ($32,193), Goodwill ($38,653) and Other
assets ($138).
<F3>Other Shareholders equity is comprised of General Partner's Capital ($1,049)
and Limited Partners' Capital ($102,458).
</FN>
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENTS OF FINANCIAL CONDITION AND STATEMENTS OF INCOME FOUND ON PAGES 3 AND
4 OF THE PARTNERSHIP'S FORM 10-Q FOR THE YEAR-TO-DATE, AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> APR-30-1998
<PERIOD-START> MAY-01-1997
<PERIOD-END> OCT-31-1997
<CASH> 123
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 23,363<F1>
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 120,611<F2>
<CURRENT-LIABILITIES> 23,542
<BONDS> 0
0
0
<COMMON> 0
<OTHER-SE> 97,069<F3>
<TOTAL-LIABILITY-AND-EQUITY> 120,611
<SALES> 0
<TOTAL-REVENUES> 36,610
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 1,370
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 35,240
<INCOME-TAX> 0
<INCOME-CONTINUING> 35,240
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 35,240
<EPS-PRIMARY> 1.36
<EPS-DILUTED> 1.34
<FN>
<F1>Current assets is comprised of Cash ($123), Distribution Receivable ($22,702),
and Interest Receivable ($538).
<F2>Total assets include Current Assets plus Investment in Oppenheimer Capital
($26,914), a Non-trade Note Receivable ($32,193), Goodwill ($38,001) and Other
Assets ($140).
<F3>Other Shareholders equity is comprised of General Partner's Capital ($984) and
Limited Partners' Capital ($96,085).
</FN>
</TABLE>
