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.
--------------------------------------------------------------------------------
                                (Name of Issuer)


                   Class B Voting Common Stock, $.01 par value
--------------------------------------------------------------------------------
                         (Title of Class of Securities)


                                    172862302
--------------------------------------------------------------------------------
                                 (CUSIP Number)


                                 August 24, 2000
--------------------------------------------------------------------------------
            (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)


----------
(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
-------------------                  ---                      ------------------


________________________________________________________________________________
1.   NAME OF REPORTING PERSONS
     I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)


     JMG Triton Offshore Fund Ltd.
________________________________________________________________________________
2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a)  [_]
                                                                 (b)  [X]

________________________________________________________________________________
3.   SEC USE ONLY



________________________________________________________________________________
4.   CITIZENSHIP OR PLACE OF ORGANIZATION


     British Virgin Islands
________________________________________________________________________________
  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
-------------------                  ---                      ------------------


Item 1.

     (a).   Citadel Holding Corp.
     (b).   550 Hope Street, Suite 1825
            Los Angeles, California 90091

Item 2.
     (a).   JMG Triton Offshore Fund Limited ("JMG")
     (b).   Citco Building
            Wickhams Cay, Road Town, Tortola
            British Virgin Islands

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
                                    --------------------------------------------
     (b)  Percent of class:  10%
                           -----------------------------------------------------
     (c)  Number of shares as to which such person has:

          (i)   Sole power to vote or to direct the vote:  198,958
                                                         -----------------------
          (ii)  Shared power to vote or to direct the vote:  0
                                                           ---------------------
          (iii) Sole power to dispose or to direct the disposition of  0
                                                                     -----------
          (iv)  Shared power to dispose or to direct the disposition of  198,958
                                                                       ---------

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.

     JMG  does  not hold the  subject  securities  as part of a group.  However,
Pacific Assets  Management,  LLC serves as JMG's investment  manager 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
-------------------                  ---                      ------------------


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
                        --------------------------------------------------------
                        (Date)


                         /s/ Kieran Conroy
                        --------------------------------------------------------
                        (Signature)


                        Kieran Conroy, Director of JMG Triton Offshore Fund Ltd.
                        --------------------------------------------------------
                        (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).