UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Quarter ended: 3/31/99
Check here if Amendment X; Amendment Number: 1
This Amendment (check only one.): X is a restatement.
adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: HBK INVESTMENTS L.P.
Address: 300 CRESCENT COURT, SUITE 700
DALLAS, TEXAS 75201
Form 13F File Number: 28-6078
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 Report Manager:
Name: H. Michael Reese
Title: Chief Financial Officer
Phone: (214) 758-6160
Signature, Place, and Date of Signing:
/X/ H. Michael Reese Dallas, Texas May 25, 1999
Report Type (Check only one.):
X 13F HOLDINGS REPORT.
13F NOTICE.
13F COMBINATION REPORT.
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934.
<PAGE>
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 140
Form 13F Information Table Value Total: $856,914 (thousands)
Information for which we are requesting confidential treatment has been
omitted and filed separately with the Securities and Exchange Commission.
List of Other Included Managers: NONE
<PAGE>
<TABLE>
FORM 13F INFORMATION TABLE
<CAPTION>
TITLE OF VALUE SHARES/ SH/ PUT/ INVSTMNT OTHER VOTING AUTHORITY
NAME OF ISSUER CLASS CUSIP (X$1000) PRN AMT PRN CALL DISCRETN MANAGERS SOLE SHARED NONE
- - - - ---------------------- ----- ----- -------- ------- --- ---- -------- -------- ---- ------ ----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Advanta Corp COM 007942204 511 56,800 SH Sole 56,800 0 0
Aerial Communications Inc COM 007655103 3,875 500,000 SH Sole 500,000 0 0
Albertsons Inc COM 013104904 1,361 25,000 SH CALL Sole 25,000 0 0
Alliance Pharmaceutical Corp COM 018773101 1,485 546,267 SH Sole 546,267 0 0
Alternative Living Serv Inc DEBT 02145KAA5 11 10,000 PRN Sole 10,000 0 0
Alternative Living Serv Inc DEBT 02145KAB3 13,260 4,571,000 PRN Sole 14,571,000 0 0
Alternative Living Serv Inc DEBT 02145KAC1 13,317 11,635,000 PRN Sole 11,635,000 0 0
America Online Inc Del COM 02364J954 2,940 20,000 SH PUT Sole 20,000 0 0
American General Corp. COM 026351106 1,269 18,000 SH Sole 18,000 0 0
American General Corp. COM 026351956 4,230 60,000 SH PUT Sole 60,000 0 0
Ameritech Corp New COM 030954901 8,068 140,000 SH CALL Sole 140,000 0 0
Ameritech Corp New COM 030954951 2,881 50,000 SH PUT Sole 50,000 0 0
Ameritech Corporation COM 030954101 1,621 28,000 SH Sole 28,000 0 0
AMF Bowling Inc COM 03113V109 720 180,100 SH Sole 180,100 0 0
AMF Bowling Inc DEBT 03113VAA7 465 4,000,000 PRN Sole 4,000,000 0 0
AMF Bowling Inc DEBT 03113VAB5 744 6,400,000 PRN Sole 6,400,000 0 0
AMP Inc. COM 031897101 48,362 900,800 SH Sole 900,800 0 0
Assisted Living Concepts Inc COM 04543L109 1,692 475,000 SH Sole 475,000 0 0
At Home Corp. COM 045919107 3,022 19,201 SH Sole 19,201 0 0
Atmel Corp COM 049513954 5,103 336,000 SH PUT Sole 336,000 0 0
Atmel Corp DEBT 049513AB0 32,401 106,500,000 PRN Sole 106,500,000 0 0
Axogen Ltd COM G0690R108 28,672 921,200 SH Sole 921,200 0 0
Aztec Technology Partners Inc COM 05480L101 872 521,800 SH Sole 521,800 0 0
Bandag Inc COM 059815308 1,898 79,900 SH Sole 79,900 0 0
Bank of Tokyo - Mitsubishi Ltd COM 065379109 337 24,800 SH Sole 24,800 0 0
BankBoston Corp COM 06605R906 5,994 138,400 SH CALL Sole 138,400 0 0
Boeing Co COM 097023905 3,400 100,000 SH CALL Sole 100,000 0 0
Brightpoint Inc COM 109473958 372 63,000 SH PUT Sole 63,000 0 0
Brightpoint Inc DEBT 109473AA6 993 4,000,000 PRN Sole 4,000,000 0 0
Brightpoint Inc DEBT 109473AC2 12,477 50,275,000 PRN Sole 50,275,000 0 0
Campbell Soup Co COM 134429109 761 18,000 SH Sole 18,000 0 0
Cellstar Corp COM 150925955 519 50,000 SH PUT Sole 50,000 0 0
Cendant Corp COM 151313903 1,677 105,200 SH CALL Sole 105,200 0 0
Chock Full O Nuts Corp DEBT 170268AC0 542 572,000 PRN Sole 572,000 0 0
Clorox Co Del COM 189054909 23,438 200,000 SH CALL Sole 200,000 0 0
CNET Inc. DEBT 125945AA3 23,079 16,500,000 PRN Sole 16,500,000 0 0
Coca Cola Co COM 191216900 6,138 100,000 SH CALL Sole 100,000 0 0
Coleman Inc. New COM 193559101 22,181 2,688,663 SH Sole 2,688,663 0 0
Coltec Inds Inc COM 196879900 909 50,000 SH CALL Sole 50,000 0 0
Crescendo Pharmaceuticals Corp COM 225637107 371 25,500 SH Sole 25,500 0 0
Devon Energy Corp COM 251799102 1,240 45,000 SH Sole 45,000 0 0
Du Pont Ei De Nemours & Co COM 263534909 21,483 370,000 SH CALL Sole 370,000 0 0
Eastman Kodak Co COM 277461909 6,388 100,000 SH CALL Sole 100,000 0 0
Eastman Kodak Co COM 277461959 6,388 100,000 SH PUT Sole 100,000 0 0
Echostar Communications New COM 278762307 12,134 71,300 SH Sole 71,300 0 0
Elan PLC COM 284131208 982 14,081 SH Sole 14,081 0 0
Elan PLC COM 284131703 29,440 713,700 SH Sole 713,700 0 0
Essex Intl Inc Del COM 297025108 924 38,888 SH Sole 38,888 0 0
Federal Mogul Corp COM 313549107 7,291 169,564 SH Sole 169,564 0 0
Federal Natl Mtg Assn COM 313586109 1,662 24,000 SH Sole 24,000 0 0
Federal Natl Mtg Assn COM 313586959 10,388 150,000 SH PUT Sole 150,000 0 0
Fleet Finl Group Inc. New COM 338915901 9,049 240,500 SH CALL Sole 240,500 0 0
Ford Mtr Co Del COM 345370900 2,834 50,000 SH CALL Sole 50,000 0 0
Ford Mtr Co Del COM 345370950 3,401 60,000 SH PUT Sole 60,000 0 0
Fuisz Technologies Ltd DEBT 359536AB5 4,913 7,040,000 PRN Sole 7,040,000 0 0
Fund Amern Enterprises Hldgs COM 360768105 918 6,900 SH Sole 6,900 0 0
General Elec Co COM 369604103 221 2,000 SH Sole 2,000 0 0
General Elec Co COM 369604953 2,213 20,000 SH PUT Sole 20,000 0 0
General Mills Inc COM 370334104 1,361 18,000 SH Sole 18,000 0 0
General Mtrs Corp COM 370442902 9,570 110,000 SH CALL Sole 110,000 0 0
General Mtrs Corp COM 370442952 8,700 100,000 SH PUT Sole 100,000 0 0
Heinz HJ Co COM 423074103 863 18,000 SH Sole 18,000 0 0
Hewlett Packard Co COM 428236903 6,781 100,000 SH CALL Sole 100,000 0 0
Hollis-Eden Pharmaceuticals COM 435902101 2,329 126,317 SH Sole 126,317 0 0
Household Intl Inc COM 441815957 4,563 100,000 SH PUT Sole 100,000 0 0
HRPT Pptys Tr DEBT 40426WAB7 4,994 5,202,000 PRN Sole 5,202,000 0 0
Illinois Tool Wks Inc COM 452308909 1,547 25,000 SH CALL Sole 25,000 0 0
Integrated Process Equipment COM 45812K108 2,088 243,800 SH Sole 243,800 0 0
Intelligent Polymers Ltd COM 45815V200 9,106 325,200 SH Sole 325,200 0 0
Intimate Brands Inc COM 461156101 5,275 109,600 SH Sole 109,600 0 0
Investment Technology Group COM 461450108 1,014 20,000 SH Sole 20,000 0 0
Jacor Communications Inc. COM 469858138 12,869 1,271,000 SH Sole 1,271,000 0 0
Jefferies Group Inc. COM 472318104 1,139 24,000 SH Sole 24,000 0 0
Kellogg Co COM 487836108 617 18,000 SH Sole 18,000 0 0
Kellstrom Inds Inc DEBT 488035AA4 2,057 2,500,000 PRN Sole 2,500,000 0 0
Kimberly Clark Corp COM 494368953 9,588 200,000 SH PUT Sole 200,000 0 0
Kimberly-Clark Corp COM 494368103 6,472 135,000 SH Sole 135,000 0 0
Laboratory Corp Amer Hldgs COM 50540R201 4,676 96,414 SH Sole 96,414 0 0
LCA-Vision Inc COM 501803209 1,812 456,602 SH Sole 456,602 0 0
Limited Inc COM 532716107 14,138 356,800 SH Sole 356,800 0 0
Mattel Inc COM 577081952 8,978 360,000 SH PUT Sole 360,000 0 0
MBL Intl Fin Bermuda Tr DEBT 55262XAA2 18,781 16,920,000 PRN Sole 16,920,000 0 0
MCI Worldcom Inc COM 55268B956 5,314 60,000 SH PUT Sole 60,000 0 0
McMoran Exploration Co COM 582411104 2,130 134,200 SH Sole 134,200 0 0
Meditrust Corp DEBT 58501TAC2 18,564 19,337,000 PRN Sole 19,337,000 0 0
Merrill Lynch & Co Inc COM 590188958 1,770 20,000 SH PUT Sole 20,000 0 0
Microsoft Corp COM 594918104 538 6,000 SH Sole 6,000 0 0
Microsoft Corp COM 594918954 18,000 200,000 SH PUT Sole 200,000 0 0
Mobil Corp COM 607059102 1,584 18,000 SH Sole 18,000 0 0
Mobil Corp COM 607059952 8,800 100,000 SH PUT Sole 100,000 0 0
Molex Inc. COM 608554200 2,654 102,700 SH Sole 102,700 0 0
Navigant Intl Inc COM 63935R108 2,416 454,700 SH Sole 454,700 0 0
News Corp Ltd COM 652487703 1,711 58,000 SH Sole 58,000 0 0
Nextel Communications Inc COM 65332V953 3,663 100,000 SH PUT Sole 100,000 0 0
Noel Group Inc COM 655260107 3,346 2,974,200 SH Sole 2,974,200 0 0
Nordic America Tanker Shippng COM G65773106 1,869 162,500 SH Sole 162,500 0 0
North Amern Vaccine Inc COM 657201109 108 16,337 SH Sole 16,337 0 0
North Amern Vaccine Inc DEBT 657201AC3 1,585 3,685,000 PRN Sole 3,685,000 0 0
Omnicom Group Inc DEBT 681919AE6 7,063 2,750,000 PRN Sole 2,750,000 0 0
Pacificare Health Sys Del COM 695112102 855 14,200 SH Sole 14,200 0 0
Pennzenergy Co COM 70931Q109 5,776 550,100 SH Sole 550,100 0 0
Petsmart Inc DEBT 716768AB2 2,088 1,890,000 PRN Sole 1,890,000 0 0
Pharmerica Inc. COM 717135107 5,260 1,058,700 SH Sole 1,058,700 0 0
Possis Medical Inc COM 737407106 3,876 387,607 SH Sole 387,607 0 0
Pride Intl Inc DEBT 741932AB3 500 2,000,000 PRN Sole 2,000,000 0 0
Queen Sand Res Inc COM 747927101 129 91,742 SH Sole 91,742 0 0
Raytheon Co COM 755111309 3,298 57,100 SH Sole 57,100 0 0
RJR Nabisco Holdings Corp COM 74960K876 2,250 90,000 SH Sole 90,000 0 0
RJR Nabisco Holdings Corp COM 74960K906 750 30,000 SH CALL Sole 30,000 0 0
Royal Dutch Petro Co COM 780257804 8,949 172,100 SH Sole 172,100 0 0
Sara Lee Corp COM 803111103 891 36,000 SH Sole 36,000 0 0
Sara Lee Corp COM 803111903 10,063 406,600 SH CALL Sole 406,600 0 0
Sheldahl Co COM 822440103 711 114,342 SH Sole 114,342 0 0
Spiros Dev Corp II Inc / Dura COM 848935201 1,383 160,400 SH Sole 160,400 0 0
SPX Corp COM 784635954 45,030 35,000 SH PUT Sole 35,000 0 0
Sunbeam Corp COM 867071902 1,113 200,000 SH CALL Sole 200,000 0 0
Telephone & Data Sys Inc COM 879433100 16,913 300,000 SH Sole 300,000 0 0
Texas Instrs Inc COM 882508954 9,925 100,000 SH PUT Sole 100,000 0 0
Textron Inc. COM 883203901 1,161 15,000 SH CALL Sole 15,000 0 0
Thermo Fibertek Inc DEBT 88355WAA3 3,803 4,500,000 PRN Sole 4,500,000 0 0
Tmp Worldwide Inc COM 872941109 2,461 38,654 SH Sole 38,654 0 0
Total Renal Care Hldgs Inc COM 89151A107 4,351 395,534 SH Sole 395,534 0 0
Total Renal Care Hldgs Inc COM 89151A907 270 24,500 SH CALL Sole 24,500 0 0
Toys R Us Inc. COM 892335100 258 13,700 SH Sole 13,700 0 0
Triarc Companies COM 895927101 1,744 100,000 SH Sole 100,000 0 0
U S Office Prods Co COM 912325305 1,875 467,000 SH Sole 467,000 0 0
Unilever N V COM 904784501 870 13,100 SH Sole 13,100 0 0
Unilever PLC COM 904767605 1,458 39,400 SH Sole 39,400 0 0
United Intl Hldgs Inc COM 910734102 868 20,000 SH Sole 20,000 0 0
United States Filter Corp New COM 911843209 12,250 400,000 SH Sole 400,000 0 0
United Sts Satellite COM 912534104 3,532 206,600 SH Sole 206,600 0 0
Vanguard Cellular Sys Inc COM 922022108 26,833 984,700 SH Sole 984,700 0 0
Wal Mart Stores Inc COM 931142903 23,047 500,000 SH CALL Sole 500,000 0 0
Westfield America Inc. COM 959910100 523 30,000 SH Sole 30,000 0 0
Xerox Corp COM 984121903 10,338 124,642 SH CALL Sole 124,642 0 0
Xylan Corp COM 984151100 4,992 135,500 SH Sole 135,500 0 0
Yahoo Inc COM 984332106 2,591 15,400 SH Sole 15,400 0 0
Youth Svcs Intl Inc DEBT 987816AB1 6,278 7,965,000 PRN Sole 7,965,000 0 0
YPF Sociedad Anonima COM 984245100 3,043 96,400 SH Sole 96,400 0 0
Ziff-Davis Inc. COM 989511100 344 16,000 SH Sole 16,000 0 0
</TABLE>
