UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended:12/31/1999
Check here if Amendment [ ]; Amendment Number: ____
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Fraser Management Associates
Address: 309 South Willard Street
Burlington VT 05401
Form 13F File Number: 28-5216
The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: James L. Fraser
Title: President
Phone: 802-658-0322
Signature, Place, and Date of Signing:
James L. Fraser Burlington, VT January 13, 2000
[Signature] [City, State] [Date]
Report Type (Check only one.):
[x] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting
manager are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in this report, and
all holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for
this reporting manager are reported in this report and a portion are
reported by other reporting manager(s).)
<PAGE>
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 92
Form 13F Information Table Value Total: $ 128229
(thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
[If there are no entries in this list, state "NONE" and omit the column
headings and list entries.]
NONE
<PAGE>
<TABLE> <C> <C>
NAME OF ISSUER TITLE OF VALUE SHARES/ SH PUT/ INVSTMT OTHER VOTING AUTHORITY
CLASS CUSIP (X$1000) PRN AMT PRN CALL DSRETN MNGRS SOLE SH NONE
GENERAL ELECTRIC COM 369604103 14163 91522SH SOLE 91522
EXXON-MOBIL COM 302290101 10690 132694SH SOLE 132694
WICOR COM 929253102 5473 187518SH SOLE 187518
UNISYS COM 909214108 4738 148360SH SOLE 148360
FUELCELL ENERGY COM 29271E100 4707 187825SH SOLE 187825
AQUARION COM 03838W101 3686 99611SH SOLE 99611
AMERON INTERNATIONAL COM 030710107 3169 80097SH SOLE 80097
AT&T COM 001957109 3129 61650SH SOLE 61650
UTILICORP COM 918005109 2787 143407SH SOLE 143407
EVERCEL COM 299759100 2665 103512SH SOLE 103512
FLOW INTERNATIONAL COM 343468104 2487 218650SH SOLE 218650
PNC BANK COM 693475105 2483 55803SH SOLE 55803
UNITED WATER RES. COM 913190104 2470 72257SH SOLE 72257
NCR COM 6288GE108 2305 60850SH SOLE 60850
INTERMAGNETICS GENERAL COM 458771102 2246 256645SH SOLE 256645
US WEST COM 912889102 2183 30316SH SOLE 30316
GTE COM 362320103 2048 29017SH SOLE 29017
BLUEGREEN COM 703365106 1889 377875SH SOLE 377875
BCE COM 05534B109 1849 20500SH SOLE 20500
BLUEGREEN C.V. 8.25 DUE 5-12-12 BOND 703365AB2 1756 2167800SH SOLE 0
GENERAL MILLS COM 370334104 1716 48000SH SOLE 48000
DUPONT, E.I. COM 263534109 1634 24812SH SOLE 24812
KMART CV PFD T PFD 498778208 1529 34953SH SOLE 34953
SBC COMMUNICATIONS COM 78387G103 1479 30348SH SOLE 30348
NABORS IND COM 629568106 1473 47600SH SOLE 47600
EASTMAN KODAK COM 277461109 1423 21474SH SOLE 21474
PEPSICO COM 713448108 1392 39501SH SOLE 39501
PROCTER & GAMBLE COM 742718109 1386 12650SH SOLE 12650
NORTHWEST PIPE COM 667746101 1362 97275SH SOLE 97275
BP AMOCO ADR ADR 055622104 1349 22626SH SOLE 22626
SOUTHERN CO COM 842587107 1329 56566SH SOLE 56566
AUSTRALIA & NZ BANKING GROUP ADR 052528304 1257 35100SH SOLE 35100
GREEN MOUNTAIN COFFEE COM 393122106 1234 156700SH SOLE 156700
LAYNE CHRISTENSEN COM 521050104 1161 160200SH SOLE 160200
ULTRALIFE BATTERIES COM 903899102 1104 180300SH SOLE 180300
EQUITABLE RESOURCES COM 294549100 1054 31573SH SOLE 31573
PLUM CREEK TIMBER COM 729237107 1027 41082SH SOLE 41082
CHEMED COM 163596109 1019 35600SH SOLE 35600
IBM COM 459200101 956 8854SH SOLE 8854
TEXACO COM 881694103 923 17000SH SOLE 17000
REPSOL ADR ADR 76026T205 903 38858SH SOLE 38858
CMS ENERGY COM 125896100 889 28509SH SOLE 28509
HEALTH CARE REIT COM 42217K106 885 58505SH SOLE 58505
ODS NETWORKS COM 67082N109 876 96700SH SOLE 96700
HSB GROUP COM 40428N109 852 25200SH SOLE 25200
BRISTOL MYERS SQUIBB COM 110122108 822 12800SH SOLE 12800
IMPERIAL OIL COM 453038408 820 37911SH SOLE 37911
NO STATES POWER CO MINN COM 665772109 779 39944SH SOLE 39944
INCO LTD CV 7.75 DUE 3-15-16 BOND 453258AH8 753 875000SH SOLE 0
COMPUTER TASK GRP COM 205477102 747 50400SH SOLE 50400
REGIONS FINANCIAL COM 758940100 722 28731SH SOLE 28731
FREQUENCY ELECTRONICS COM 358010106 672 64750SH SOLE 64750
DOLE FOOD COM 256605106 657 40400SH SOLE 40400
CHEVRON COM 166751107 656 7568SH SOLE 7568
HARMON IND COM 413136102 600 49450SH SOLE 49450
WARNER-LAMBERT COM 934488107 590 7200SH SOLE 7200
DE BEERS CONS MNS ADR ADR 240253302 573 19800SH SOLE 19800
JOHNSON & JOHNSON COM 478160104 567 6080SH SOLE 6080
STRUCTURAL DYNAMICS RESEARCH COM 863555108 553 43400SH SOLE 43400
TELETECH HOLDINGS COM 879939106 536 15900SH SOLE 15900
KAMAN COM 483548103 533 41400SH SOLE 41400
CONSOLIDATED NATURAL GAS COM 209615103 520 8000SH SOLE 8000
INCO COM 453258402 512 21800SH SOLE 21800
MORGAN STANLEY DEAN WITTER D COM 617446448 500 3500SH SOLE 3500
DEVON ENERGY COM 251791410 491 14949SH SOLE 14949
WOLVERINE WORLD WIDE COM 978097103 468 42750SH SOLE 42750
PEOPLESOFT COM 712713106 467 21900SH SOLE 21900
MERCK COM 589331107 448 6686SH SOLE 6686
KENT ELECTRONICS CV 4.5 DUE 9-01BOND 490553AA2 434 545800SH SOLE 0
HEALTHSOUTH COM 421924101 431 80100SH SOLE 80100
HOST MARRIOTT COM 441078102 430 52100SH SOLE 52100
TRANSCANADA PIPELINES COM 893526103 424 48400SH SOLE 48400
MORRISON KNUDSEN COM 485797104 404 51674SH SOLE 51674
SCOTTISH POWER PLC ADR 81013T705 399 14262SH SOLE 14262
CORNING INC COM 219350105 361 2800SH SOLE 2800
PHELPS DODGE COM 717265102 346 5153SH SOLE 5153
ROYAL DUTCH PETROLEUM COM 780257705 302 5000SH SOLE 5000
EASTMAN CHEMICAL COM 277432100 292 6133SH SOLE 6133
PENNZOIL-QUAKER STATE COM 709323109 288 28250SH SOLE 28250
MICROSOFT COM 594918104 280 2400SH SOLE 2400
PHILIP MORRIS COM 718154107 279 12000SH SOLE 12000
QUALCOMM FIN TR 5.75 CV PFD PFD 74752R402 235 250SH SOLE 250
UNION PACIFIC COM 907818108 231 5300SH SOLE 5300
COCA-COLA COM 191216100 230 3948SH SOLE 3948
TIMKEN COM 887389104 229 11206SH SOLE 11206
AMGEN COM 031162100 228 3800SH SOLE 3800
AMERICAN HOME PRODUCTS COM 026609107 220 5600SH SOLE 5600
LUCENT TECHNOLOGIES COM 549463107 217 2900SH SOLE 2900
AMERICAN INT'L GROUP COM 026874107 217 2006SH SOLE 2006
NETOPTIX COM 363544107 214 3200SH SOLE 3200
BELL SOUTH COM 079860102 212 4532SH SOLE 4532
IDX SYSTEMS COM 449491109 206 6600SH SOLE 6600
</TABLE>
