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. 2)(1)


                                  ALICO, INC.
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                               (Name of Issuer)


                    Common Stock, par value $1.00 per share
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                        (Title of Class of Securities)


                                  016230 10-4
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                                (CUSIP Number)

                               John R. Alexander
                           Atlantic Blue Trust, Inc.
                            122 East Tillman Avenue
                           Lake Wales, Florida 33853
                           Telephone: (863) 679-9595
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           (Name, Address and Telephone Number of Person Authorized
                    to Receive Notices and Communications)

                                   Copy to:
                         Charles W. Mulaney, Jr., Esq.
                   Skadden, Arps, Slate, Meagher & Flom LLP
                             333 West Wacker Drive
                            Chicago, Illinois 60606
                           Telephone: (312) 407-0700


                               October 11, 2004
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            (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 sent.

                        (Continued on following pages)
                              (Page 1 of 4 Pages)

______________

     (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 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, as amended (the "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. 016230 10-4                    13D              Page  2  of  4 Pages

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     1        NAME OF REPORTING PERSON
              I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
              ATLANTIC BLUE TRUST, INC. (I.R.S. IDENTIFICATION NO. 57-1149984)
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     2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP        (a) |X|
                                                                      (b) |_|
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     3        SEC USE ONLY

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     4        SOURCE OF FUNDS
              OO
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     5        CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS          |_|
              REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)

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     6        CITIZENSHIP OR PLACE OF ORGANIZATION

              FL
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 NUMBER OF                      7      SOLE VOTING POWER
  SHARES                               0
BENEFICIALLY                    -----------------------------------------------
 OWNED BY                       8      SHARED VOTING POWER 
   EACH                                3,493,777 (See Item 5)
 REPORTING                      -----------------------------------------------
  PERSON                        9      SOLE DISPOSITIVE POWER  
   WITH                                0 
                                -----------------------------------------------
                                10     SHARED DISPOSITIVE POWER   
                                       3,493,777 (See Item 5)
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    11        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

              3,493,777 (See Item 5)
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    12        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES 
              CERTAIN SHARES                                           |_|

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    13        PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
              48.0% (See Item 5)
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    14        TYPE OF REPORTING PERSON
              CO
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CUSIP No.  016230 10-4                   13D             Page  3  of  4 Pages

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     1        NAME OF REPORTING PERSON
              I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 
              ALICO HOLDING, LLC (I.R.S. IDENTIFICATION NO. 47-0906752)
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     2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP        (a) |X|
                                                                      (b) |_|
-------------------------------------------------------------------------------

     3        SEC USE ONLY

-------------------------------------------------------------------------------

     4        SOURCE OF FUNDS
              OO
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     5        CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS          |_|
              REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)

-------------------------------------------------------------------------------

     6        CITIZENSHIP OR PLACE OF ORGANIZATION
              NV
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 NUMBER OF                      7      SOLE VOTING POWER
  SHARES                               0
BENEFICIALLY                    -----------------------------------------------
 OWNED BY                       8      SHARED VOTING POWER 
   EACH                                3,493,777 (See Item 5) 
 REPORTING                      -----------------------------------------------
  PERSON                        9      SOLE DISPOSITIVE POWER     
   WITH                                0
                                -----------------------------------------------
                                10     SHARED DISPOSITIVE POWER 
                                       3,493,777 (See Item 5)
-------------------------------------------------------------------------------

    11        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
              3,493,777 (See Item 5)
-------------------------------------------------------------------------------

    12        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN 
              SHARES                                                       |_|

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    13        PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
              48.0% (See Item 5)
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    14        TYPE OF REPORTING PERSON
              OO
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CUSIP No.  016230 10-4              13D                   Page  4  of  4 Pages


         This Amendment No. 2 (this "Amendment No. 2") amends and supplements
the Schedule 13D originally filed with the Securities and Exchange Commission
on March 2, 2004, by Atlantic Blue Trust, Inc., a Florida corporation, and
Alico Holding, LLC, a Nevada limited liability company, as such original
filing was amended and supplemented by Amendment No. 1 filed on August 26,
2004 (as amended, the "Schedule 13D"). Except as indicated in this Amendment
No. 2, all other information set forth in the Schedule 13D remains unchanged
and capitalized terms used herein which are not defined herein have the
meanings set forth in the Schedule 13D.

Item 4.  Purpose of Transaction.

         Item 4 of the Schedule 13D is hereby amended and supplemented by
adding the following paragraph at the end of Item 4:

         On October 11, 2004, John R. Alexander, Chairman and Chief Executive
Officer of ABT sent a letter to Larry Carter, Chairman of the Special
Committee of the Board of Directors of the Issuer. A copy of the letter is
attached hereto as exhibit 99.3 and incorporated herein by reference.

Item 7.    Material to be Filed as Exhibits.

         Item 7 of the Schedule 13D is hereby amended and supplemented by
adding the following item at the end of Item 7:

         99.3     Letter to Larry Carter, Chairman of the Special Committee
                  of the Board of Directors of Atlantic Blue Trust, Inc.,
                  dated October 11, 2004.




                                   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.

Dated:  October 14, 2004

                                                ATLANTIC BLUE TRUST, INC.


                                                By: /s/ John R. Alexander
                                                    --------------------------
                                                    Name:  John R. Alexander
                                                    Title: President


                                                ALICO HOLDING, LLC


                                                By: /s/ John R. Alexander
                                                    --------------------------
                                                    Name:  John R. Alexander
                                                    Title: Manager