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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 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: Shaker Investments, Inc.
Address: 20600 Chagrin Boulevard, Suite 801
Cleveland, Ohio 44122
Form 13F File Number: 28-5322
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: David R. Webb
Title: Executive Vice President
Phone: (216) 921-2950
Signature, Place, and Date of Signing:
/S/ DAVID R. WEBB
______________________________________
[Signature]
Cleveland, Ohio
______________________________________
[City, State]
May , 1999
______________________________________
[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:
55
Form 13F Information Table Value Total:
$ 473,515 (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.
NONE
<PAGE>
FORM 13F INFORMATION TABLE
<TABLE>
<CAPTION>
Value Put/ Investment Other Voting
Authority
Name of Issuer Title of CUSIP (x$1000) Shrs or SH/PRN Call Discretion Managers Sole Share None
- -------------- -------- ----- -------- -------- ------ ---- ---------- -------- ---- ----- ----
Class prn amt
----- -------
<S> <C> <C> <C> <C> <C> <C> <C>
NeXstar Pharm, Inc. COM 65333B106 25,711 1,506,848 SH SOLE 1,506,848
Gliatech COM 37929C103 25,645 1,108,972 SH SOLE 1,108,972
NOVA Corporation COM 669784100 27,449 1,045,667 SH SOLE 1,045,667
Vistana, Inc. COM 92839P108 14,489 1,034,920 SH SOLE 1,034,920
Cendant Corp. COM 151313103 11,768 738,362 SH SOLE 738,362
Incyte Pharmaceuticals COM 45337C102 14,730 734,187 SH SOLE 734,187
Sunterra Corp. COM 86787D109 6,876 705,255 SH SOLE 705,255
R & B Falcon Corp. COM 74912E101 5,976 692,863 SH SOLE 692,863
Bluegreen COM 096231105 3,293 675,390 SH SOLE 675,390
Vitesse Semiconductor COM 928497106 30,434 601,173 SH SOLE 601,173
Boston Communications Group COM 100582105 5,829 597,814 SH SOLE 597,814
Metro Networks COM 591918107 31,441 571,650 SH SOLE 571,650
RF Micro Devices COM 749941100 54,667 571,306 SH SOLE 571,306
Reynolds & Reynolds COM 761695105 10,610 558,396 SH SOLE 558,396
HNC Software COM 40425P107 16,291 497,420 SH SOLE 497,420
Cognex Corporation COM 192422103 10,888 459,645 SH SOLE 459,645
ATMI COM 00207R101 8,636 431,800 SH SOLE 431,800
Rational Software COM 75409P202 11,186 417,200 SH SOLE 417,200
BMC Software Corporation COM 055921100 15,426 416,223 SH SOLE 416,223
Bridge Street Accomodations COM 108452103 1,442 412,115 SH SOLE 412,115
Microchip Technology Inc. COM 595017104 13,768 397,637 SH SOLE 397,637
Crossman Communities, Inc. COM 22764E109 7,677 385,058 SH SOLE 385,058
Analytical Surveys COM 032683302 9,904 380,923 SH SOLE 380,923
Fahnestock & Co. CL A 302921101 5,451 379,195 SH SOLE 379,195
Network Associates COM 640938106 8,977 292,531 SH SOLE 292,531
Xilinx Inc. COM 983919101 11,736 289,330 SH SOLE 289,330
American Italian Pasta COM 027070101 7,011 280,440 SH SOLE 280,440
Hambrecht & Quist COM 406545103 9,422 271,635 SH SOLE 271,635
Wilson The Leather Experts COM 972463103 1,792 189,920 SH SOLE 189,920
Cisco Systems, Inc. COM 17275R102 20,040 182,911 SH SOLE 182,911
Triangle Pharmaceuticals COM 89589H104 1,751 163,800 SH SOLE 163,800
II - VI COM 902104108 1,091 140,780 SH SOLE 140,780
Transwitch Corp. COM 894065101 6,332 139,935 SH SOLE 139,935
Micron Technology COM 595112103 6,299 130,725 SH SOLE 130,725
Linear Technology Corp. COM 535678106 6,302 122,970 SH SOLE 122,970
McKesson HBOC, Inc. COM 58155Q103 5,710 86,520 SH SOLE 86,520
Imation Corp. COM 45245A107 1,272 77,100 SH SOLE 77,100
Key Corporation COM 493267108 2,199 72,560 SH SOLE 72,560
Utah Medical Products COM 917488108 423 71,930 SH SOLE 71,930
Engineering and Manufacturing COM 707389300 1,079 56,805 SH SOLE 56,805
Corp.
Global Telesystems Group Inc. COM 37936U104 1,933 34,557 SH SOLE 34,557
Uniphase Corp. COM 909149106 3,805 33,050 SH SOLE 33,050
Curtiss-Wright COM 231561101 940 30,275 SH SOLE 30,275
Hologic Inc. COM 436440101 227 25,000 SH SOLE 25,000
Hyperion Solutions Corp. COM 44914M104 292 20,155 SH SOLE 20,155
Power Integrations COM 739276103 605 19,049 SH SOLE 19,049
Morgan Stanley Dean Witter COM 617446448 1,892 18,935 SH SOLE 18,935
Analog Devices COM 032654105 527 17,700 SH SOLE 17,700
Marbledge Group Inc COM 566072203 1 15,000 SH SOLE 15,000
Steris Corp. COM 859152100 361 13,564 SH SOLE 13,564
Continental Airlines COM 210795308 509 13,390 SH SOLE 13,390
Braun's Fashion Corp. COM 105658108 102 12,700 SH SOLE 12,700
Micrel Inc. COM 594793101 596 11,905 SH SOLE 11,905
Gemstar International COM G3788V106 483 6,425 SH SOLE 6,425
Veeco Instruments Inc COM 922417100 219 5,930 SH SOLE 5,930
</TABLE>
