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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
ABM INDUSTRIES INCORPORATED
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
000957100
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(CUSIP Number)
*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. 000957100
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(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
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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) 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: 1,088,000
(6) Shared Voting
Power: --
(7) Sole Dispositive
Power: 1,088,000
(8) Shared Dispositive
Power: --
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(9) Aggregate Amount Beneficially Owned by Each Reporting Person: 1,088,000
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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): 5.6%
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(12) Type of Reporting Person (See Instructions): IA
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Item 1(a). Name Of Issuer: ABM Industries Incorporated
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Item 1(b). Address of Issuer's Principal Executive Offices: 50 Fremont Street,
26th Floor, San Francisco, California 94105
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Item 2(a). Name of Person Filing: Palisade Capital Management, L.L.C.
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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.: 000957100
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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 December 31, 1996):
1,088,000
(b) Percent of Class (as of December 31, 1996):
5.6%
(c) Number of Shares as to which such person has:
(i) sole power to vote or to direct the vote 1,088,000
(ii) shared power to vote or to direct the vote --
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(iii) sole power to dispose or to direct the disposition of 1,088,000
(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 of the Issuer 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.
February 1, 1997
_____________________________
(Date)
/s/ Steven E. Berman
______________________________
(Signature)
Steven E. Berman/Member
_______________________________
(Name/Title)
Minimum 15 minutes delayed. Source: LSEG