UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT
TO RULE 13d-2(a)
(Amendment No. 23)*
Boulder Growth & Income Fund, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
101507101
(CUSIP Number)
Stephen C. Miller, Esq.
Krassa & Miller, LLC
2344 Spruce Street, Suite A
Boulder, Colorado 80302
(303) 442-2156
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
March 13, 2008
(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 that is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following
box.
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7 for other parties
to whom copies are to be sent.
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* 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).
CUSIP No. 101507101
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only)
Ernest Horejsi Trust No. 1B
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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. Source of Funds (See Instructions) WC OO
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5. Check 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 Alaska
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Number of 7. Sole Voting Power 2,433,374
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Shares Bene-
ficially 8. Shares Voting Power
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Owned by Each
Reporting 9. Sole Dispositive Power 2,433,374
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Person With
10. Shared Dispositive Power
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11.Aggregate Amount Beneficially Owned by Each Reporting Person 2,433,374
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
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13. Percent of Class Represented by Amount in Row (11) 15.97%
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14. Type of Reporting Person (See Instructions) OO
CUSIP No. 101507101
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only)
Stewart R. Horejsi
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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. Source of Funds (See Instructions) Not applicable
--------------------------------------------------------------------------------
5. Check 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 United States
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Number of 7. Sole Voting Power 0
---------------------------------------------------
Shares Bene-
ficially 8. Shares Voting Power 0
-----------------------------------------------------
Owned by Each
Reporting 9. Sole Dispositive Power 0
-----------------------------------------------------
Person With
10. Shared Dispositive Power 0
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11. Aggregate Amount Beneficially Owned by Each Reporting Person 0
--------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions) X
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13. Percent of Class Represented by Amount in Row (11) 0%
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14. Type of Reporting Person (See Instructions) IN
Amendment No. 23 to Statement on Schedule 13D
This amended statement on Schedule 13D relates to the Common Stock, $0.01
par value per share (the "Shares"), of Boulder Growth & Income Fund, Inc., a
Maryland corporation (the "Company"). Items 3, 4 and 5 of this statement,
previously filed by the Ernest Horejsi Trust No. 1B (the "Trust"), as the direct
beneficial owner of the Shares, and Stewart R. Horejsi, by virtue of the
relationships described previously in this statement, are hereby amended as set
forth below.
Item 3. Source and Amount of Funds or Other Consideration.
No change except for the addition of the following:
The total proceeds received by the Trust for the sale of 226,051 Shares
reported in Item 5(c) was $2,098,823.85. Such Shares were sold in the open
market and effected by the Trust on the New York Stock Exchange.
Item 4. Purpose of Transaction.
No change except for the addition of the following:
The Trust sold the Shares described in Item 5(c) of this statement in order
to reduce its equity interest in the Company and to generate cash flow to pay
current and future obligations. The Trust indicated its intention to liquidate
633,922 Shares on a Form 144 filed with the Securities and Exchange Commission
on October 9, 2007 giving notice of the proposed sale. The Trust subsequently
indicated its intention to liquidate 654,075 Shares. In furtherance thereof, the
Trust filed a Form 144 with the Securities and Exchange Commission on March 10,
2008 giving notice of the proposed sale.
Depending upon their evaluation of the Company's investments and prospects,
and upon future developments (including, but not limited to, performance of the
Shares in the market, the effective yield on the Shares, availability of funds,
alternative uses of funds, and money, stock market and general economic
conditions), any of the Reporting Persons or other entities that may be deemed
to be affiliated with the Reporting Persons may from time to time purchase
Shares, and any of the Reporting Persons or other entities that may be deemed to
be affiliated with the Reporting Persons may from time to time dispose of all or
a portion of the Shares held by such person, or cease buying or selling Shares.
Any such additional purchases or sales of the Shares may be in open market or
privately-negotiated transactions or otherwise.
Item 5. Interest in Securities of the Issuer.
No change except for the addition of the following:
(a) The Trust is the direct beneficial owner of 2,433,374 Shares, or
approximately 15.97% of the 15,241,509 Shares outstanding as of February 20,
2008 according to information contained in the Company's press release. By
virtue of the relationships reported in this statement, Mr. Horejsi may be
deemed to share indirect beneficial ownership of the Shares directly
beneficially owned by the Trust. Mr. Horejsi disclaims all such beneficial
ownership.
(c) The table below sets forth Shares sold by the Trust since November 7,
2007. Such sales were effected by the Trust on the New York Stock Exchange.
---------------------------- -------------------------- --------------------------
Date Number of Shares Sales Price
---------------------------- -------------------------- --------------------------
---------------------------- -------------------------- --------------------------
11/7/2007 4000 $9.36
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11/7/2007 2000 $9.37
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11/7/2007 1000 $9.42
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11/8/2007 4822 $9.25
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11/8/2007 1000 $9.34
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---------------------------- -------------------------- --------------------------
11/8/2007 4000 $9.32
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11/8/2007 4000 $9.30
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---------------------------- -------------------------- --------------------------
11/9/2007 1000 $9.17
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11/9/2007 1400 $9.10
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11/9/2007 1000 $9.14
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---------------------------- -------------------------- --------------------------
11/9/2007 12876 $9.05
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---------------------------- -------------------------- --------------------------
11/9/2007 7100 $9.02
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---------------------------- -------------------------- --------------------------
11/9/2007 6000 $9.01
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11/9/2007 1053 $9.08
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11/9/2007 200 $9.09
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11/9/2007 1500 $9.18
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---------------------------- -------------------------- --------------------------
11/12/2007 14200 $9.14
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---------------------------- -------------------------- --------------------------
11/12/2007 35000 $9.13
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---------------------------- -------------------------- --------------------------
11/12/2007 5000 $9.25
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11/12/2007 4500 $9.34
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---------------------------- -------------------------- --------------------------
11/12/2007 2000 $9.33
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11/14/2007 2000 $9.52
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11/16/2007 2000 $9.53
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11/19/2007 1500 $9.46
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11/20/2007 3700 $9.41
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11/20/2007 2600 $9.40
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3/11/2008 5000 $9.57
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---------------------------- -------------------------- --------------------------
3/11/2008 1000 $9.45
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3/11/2008 1100 $9.52
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3/11/2008 3900 $9.48
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3/12/2008 2800 $9.50
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---------------------------- -------------------------- --------------------------
3/12/2008 2000 $9.49
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---------------------------- -------------------------- --------------------------
3/12/2008 2100 $9.48
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3/12/2008 6000 $9.47
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3/12/2008 1900 $9.52
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3/13/2008 2900 $9.43
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---------------------------- -------------------------- --------------------------
3/13/2008 400 $9.45
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---------------------------- -------------------------- --------------------------
3/13/2008 1000 $9.44
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---------------------------- -------------------------- --------------------------
3/13/2008 1500 $9.47
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3/13/2008 2800 $9.48
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3/14/2008 4200 $9.49
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---------------------------- -------------------------- --------------------------
3/14/2008 1200 $9.50
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---------------------------- -------------------------- --------------------------
3/14/2008 4800 $9.45
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---------------------------- -------------------------- --------------------------
3/14/2008 1000 $9.43
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3/14/2008 2350 $9.51
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3/18/2008 2650 $9.20
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---------------------------- -------------------------- --------------------------
3/18/2008 1500 $9.26
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---------------------------- -------------------------- --------------------------
3/18/2008 5450 $9.38
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---------------------------- -------------------------- --------------------------
3/18/2008 5300 $9.39
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---------------------------- -------------------------- --------------------------
3/18/2008 4300 $9.42
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3/18/2008 3300 $9.45
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---------------------------- -------------------------- --------------------------
3/18/2008 1500 $9.40
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---------------------------- -------------------------- --------------------------
3/18/2008 7450 $9.43
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---------------------------- -------------------------- --------------------------
3/18/2008 4300 $9.44
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3/19/2003 5190 $9.25
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3/19/2008 2110 $9.27
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---------------------------- -------------------------- --------------------------
3/19/2008 3600 $9.30
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---------------------------- -------------------------- --------------------------
3/19/2008 1157 $9.20
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---------------------------- -------------------------- --------------------------
3/19/2008 3643 $9.22
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---------------------------- -------------------------- --------------------------
3/19/2008 1200 $9.21
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Signature
After due 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.
Date: March 20, 2008
/s/ Stewart R. Horejsi
----------------------------------------------------
Stewart R. Horejsi
/s/ Stephen C. Miller
----------------------------------------------------
Stephen C. Miller, as President of Badlands Trust
Company, LLC, trustee of the Ernest Horejsi Trust
No. 1B