SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b)(c), AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(Amendment No.____________)(1)
Citadel Holding Corp.
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(Name of Issuer)
Class B Voting Common Stock, $.01 par value
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(Title of Class of Securities)
172862302
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(CUSIP Number)
August 24, 2000
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[_] Rule 13d-1(b)
[X] Rule 13d-1(c)
[_] Rule 13d-1(d)
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(1) 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).
CUSIP No. 172862302 13G Page 1 of 3 Pages
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________________________________________________________________________________
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Pacific Assets Management, LLC
________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [X]
________________________________________________________________________________
3. SEC USE ONLY
________________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
California
________________________________________________________________________________
NUMBER OF 5. SOLE VOTING POWER
SHARES 198,958
_________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 0
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 0
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER
WITH 198,958
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
198,958
________________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10%
________________________________________________________________________________
12. TYPE OF REPORTING PERSON*
Co
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 172862302 13G Page 2 of 3 Pages
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Item 1.
(a). Citadel Holding Corp.
(b). 550 Hope Street, Suite 1825
Los Angeles, California 90091
Item 2.
(a). Pacific Assets Management, LLC ("Pacific")
(b). 1999 Avenue of the Stars, Suite 2530
Los Angeles, CA 90067
Item 3. Not applicable
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: 198,958
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(b) Percent of class: 10%
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(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote: 198,958
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(ii) Shared power to vote or to direct the vote: 0
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(iii) Sole power to dispose or to direct the disposition of 0
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(iv) Shared power to dispose or to direct the disposition of 198,958
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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 Reported on by the Parent Holding Company
Not applicable
Item 8. Makeup and Classification of Members of the Group.
Pacific does not hold the subject securities as part of a group. However,
Pacific serves as the investment manager to the direct beneficial owner, JMG
Triton Offshore Fund, Ltd. A British Virgin Islands corporation and has the
power to determine whether or when such securities will be sold.
Item 9. Notice of Dissolution of Group.
Not applicable
CUSIP No. 172862302 13G Page 3 of 3 Pages
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Item 10. Certifications.
(a) The following certification shall be included if the statement is
filed pursuant to Rule 13d-1(c):
"By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above 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 such purpose or effect."
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.
September 5, 2001
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(Date)
/s/ Jonathan M. Glaser
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(Signature)
Jonathan M. Glaser, Member of Pacific Assets Management, LLC
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(Name/Title)
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
for whom copies are to be sent.
Attention. Intentional misstatements or omissions of fact constitute federal
criminal violations (see 18 U.S.C. 1001).