SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
Assisted Living Concepts, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- --------------------------------------------------------------------------------
(Title of Class of Securities)
04543L109
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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 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 ("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. 04543L109
- --------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons: Palisade Capital Management, L.L.C., Tax ID #: 22-3330049
- --------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (See Instructions) (a)
(b)
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(3) SEC Use Only
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(4) Citizenship or Place of Organization: New Jersey
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Number of Shares Beneficially Owned by Each (5) Sole Voting
Reporting Person With Power: 381,897
(6) Shared Voting
Power: --
(7) Sole Dispositive
Power: 381,897
(8) Shared Dispositive
Power: --
- --------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned by Each Reporting Person:
381,897 (includes 299,997 shares reporting person has right to acquire
upon conversion of convertible debentures).
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(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
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(11) Percent of Class Represented by Amount in Row (9): 7.46%
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(12) Type of Reporting Person (See Instructions): IA
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Item 1(a). Name Of Issuer: Assisted Living Concepts, Inc.
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Item 1(b). Address of Issuer's Principal Executive Offices:
9955 S.E. Washington, Suite 201, Portland, OR 97216
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Item 2(b). Address of Principal Business Office or, if None, Residence:
One Bridge Plaza, Suite 695, Fort Lee, NJ 07024
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Item 2(c). Citizenship: New Jersey
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Item 2(d). Title of Class of Securities: Common Stock
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Item 2(e). CUSIP No.: 04543L109
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Item 3. If This Statement Is Filed Pursuant to Rules 13d-1(b), or 13d-2(b),
check whether the Person Filing is a
(a) [ ] Broker or Dealer registered under Section 15 of the Act.
(b) [ ] Bank as defined in Section 3(a)(6) of the Act.
(c) [ ] Insurance company as defined in Section 3(a)(19) of the Act.
(d) [ ] Investment Company registered under section 8 of the
Investment Company Act.
(e) [ X] Investment Adviser registered under Section 203 of the
Investment Advisers Act of 1940.
(f) [ ] Employee Benefit Plan, Pension Fund which is subject to
the provisions of the Employee Retirement Income Security
Act of 1974 or Endowment fund; see Rule 13d-1(b)(1)(ii)(H).
(g) [ ] Parent Holding Company, in accordance with
Rule 13d-1(b)(ii)(G) (Note: See Item 7).
(h) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(H).
Item 4. Ownership
(a) Amount Beneficially Owned (as of July 31, 1996)
381,897 (includes 299,997 shares reporting person has
right to acquire upon conversion of convertible debentures)
(b) Percent of Class (as of July 31, 1996):
7.46%
(c) Number of Shares as to which such person has:
(i) sole power to vote or to direct the vote 381,897
(ii) shared power to vote or to direct the vote --
(iii) sole power to dispose or to direct the disposition of
381,897
(iv) shared power to dispose or to direct the disposition of --
Item 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial owner of
more than five percent of the class of securities, check the following
[ ].
Item 6. Ownership of More Than Five Percent on Behalf of Another Person
The shares beneficially owned by the reporting person are held on behalf of
the reporting person's clients in accounts over which the reporting person has
complete investment discretion. No other person has the right to receive or the
power to direct the receipt of dividends from, or the proceeds from the sale of,
such shares. No other person's interest relates to more than five percent of the
class. No client account contains more than five percent of the class.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company. N/A
Item 8. Identification and Classification of Members of the Group. N/A
Item 9. Notice of Dissolution of Group. N/A
Item 10. Certification
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.
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.
August 8, 1996
__________________________
(Date)
/s/Steven E. Berman
_________________________
(Signature)
Steven E. Berman/Member
________________________
Steven E. Berman/Member
(Name/Title)
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
Assisted Living Concepts, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- --------------------------------------------------------------------------------
(Title of Class of Securities)
04543L109
- --------------------------------------------------------------------------------
(CUSIP Number)
Check the following box if a fee is being paid with this statement |X|. (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 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 ("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. 04543L109
- --------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons: Palisade Capital Management, L.L.C., Tax ID #: 22-3330049
- --------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (See Instructions) (a)
(b)
- --------------------------------------------------------------------------------
(3) SEC Use Only
- --------------------------------------------------------------------------------
(4) Citizenship or Place of Organization: New Jersey
- --------------------------------------------------------------------------------
Number of Shares Beneficially Owned by Each (5) Sole Voting
Reporting Person With Power: 517,000
(6) Shared Voting
Power: --
(7) Sole Dispositive
Power: 517,000
(8) Shared Dispositive
Power: --
- --------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned by Each Reporting Person: 517,000
- --------------------------------------------------------------------------------
(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
- --------------------------------------------------------------------------------
(11) Percent of Class Represented by Amount in Row (9): 17.2%
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(12) Type of Reporting Person (See Instructions): IA
- --------------------------------------------------------------------------------
<PAGE>
Item 1(a). Name Of Issuer: Assisted Living Concepts, Inc.
- --------------------------------------------------------------------------------
Item 1(b). Address of Issuer's Principal Executive Offices:
10570 S.E. Washington, Suite 213, Portland, OR 97216
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Item 2(a). Name of Person Filing: Palisade Capital Management, L.L.C.*
* The shares reflected in this Schedule were formerly included in a report
filed by the Whiffletree Division of Smith Barney. Effective April 10,
1995, the client accounts for which the shares of the Issuer were acquired
were transferred to the reporting person.
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Item 2(b). Address of Principal Business Office or, if None, Residence:
One Bridge Plaza, Suite 695, Fort Lee, NJ 07024
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Item 2(c). Citizenship: New Jersey
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Item 2(d). Title of Class of Securities: Common Stock
- --------------------------------------------------------------------------------
Item 2(e). CUSIP No.: 04543L109
- --------------------------------------------------------------------------------
Item 3. If This Statement Is Filed Pursuant to Rules 13d-1(b), or 13d-2(b),
check whether the Person Filing is a
(a) [ ] Broker or Dealer registered under Section 15 of the Act.
(b) [ ] Bank as defined in section 3(a)(6) of the Act.
(c) [ ] Insurance company as defined in section 3(a)(19) of the Act.
(d) [ ] Investment Company registered under section 8 of the
Investment Company Act.
(e) [ X] Investment Adviser registered under section 203 of the
Investment Advisers Act of 1940.
(f) [ ] Employee Benefit Plan, Pension Fund which is subject to
the provisions of the Employee Retirement Income Security Act of 1974 or
Endowment fund; see Rule 13d-1(b)(1)(ii)(H).
(g) [ ] Parent Holding Company, in accordance with Rule
13d-1(b)(ii)(G) (Note: See Item 7).
(h) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(H).
Item 4. Ownership
(a) Amount Beneficially Owned (as of April 10, 1995)
517,000
(b) Percent of Class (as of April 10, 1995):
17.2%
(c) Number of Shares as to which such person has:
(i) sole power to vote or to direct the vote 517,000
(ii) shared power to vote or to direct the vote --
(iii) sole power to dispose or to direct the disposition of
517,000
(iv) shared power to dispose or to direct the disposition of--
Item 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following [ ].
Item 6. Ownership of More Than Five Percent on Behalf of Another Person
The shares beneficially owned by the reporting person are held on
behalf of the reporting person's clients in accounts over which the reporting
person has complete investment discretion. No other person has the right to
receive or the power to direct the receipt of dividends from, or the proceeds
from the sale of, such shares. No other person's interest relates to more than
five percent of the class. No client account contains more than five percent of
the class.
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company. N/A
Item 8. Identification and Classification of Members of the Group N/A
Item 9. Notice of Dissolution of Group N/A
Item 10. Certification
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.
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.
May 2, 1996
__________________________________
(Date)
/s/ Mark S. Hoffman
___________________________________
(Signature)
Mark S. Hoffman/Member
___________________________________
Name/Title)
