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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 2)*
Boulder Total Return Fund, Inc.
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(Name of Issuer)
Common Stock, $.01 par value per share
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(Title of Class of Securities)
101541100
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(CUSIP Number)
December 31, 2002
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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:
[X] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*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. 101541100
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Alter Asset Management, Inc.
I.D. No. 22-3172699
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2. Check the Appropriate Box if a Member (a) / /
of a Group (See Instructions) (b) / /
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3. SEC Use Only
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4. Citizenship or Place of Organization
Delaware
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Number of Shares 5. Sole Voting Power
Beneficially (Discretionary Accounts)
Owned by 1,572,870
Each Reporting --------------------------------------------------
Person With: 6. Shared or No Voting Power
25,000 (Shared)
18,875 (None)
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7. Sole Dispositive Power
(Discretionary Accounts)
1,616,745
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8. Shared Dispositive Power
0
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
(Discretionary Accounts)
1,616,745
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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)
17.2%
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12. Type of Reporting Person (See Instructions)
IA
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Item 1(a) NAME OF ISSUER:
Boulder Total Return Fund, Inc.
Item 1(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
1680 38th Street, Suite 800
Boulder, Colorado 80301
Item 2(a) NAME OF PERSON FILING:
Alter Asset Management, Inc.
Item 2(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE:
731 Alexander Road, Suite 301
Princeton, New Jersey 08540
Item 2(c) CITIZENSHIP:
State of Delaware
Item 2(d) TITLE OF CLASS OF SECURITIES:
Common Stock, $.01 par value per share
Item 2(e) CUSIP NUMBER:
101541100
Item 3 TYPE OF REPORTING PERSON:
Investment Adviser, in accordance with section
240.13d-1(b)(1)(ii)(E)
Item 4(a) AMOUNT BENEFICIALLY OWNED AS OF December 31, 2002:
1,616,745
Item 4(b) PERCENT OF CLASS:
17.2%
Item 4(c) NUMBER OF SHARES AS TO WHICH THE PERSON HAS:
(i) Sole power to vote or to direct the vote:
1,616,745
(ii) Shared power to vote or to direct the vote:
N/A
(iii) Sole power to dispose or to direct the disposition of:
1,616,745
(iv) Shared power to dispose or to direct the disposition of:
N/A
Item 5 OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
N/A
Item 6 OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:
N/A
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 A 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 and are
held in the ordinary course of business and 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 that 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.
February 10, 2003
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Date
/s/ HOWARD T. ALTER
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Signature
Howard T. Alter
Chairman and Chief Executive Officer
Alter Asset Management, Inc.
---------------------------------------------
Name/Title