WINDHAM CAPITAL MANAGEMENT/NY
13F-HR, 2000-05-15
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

Form  13F
FORM 13F COVER PAGE

Report for the Calendar Year or Quarter Ended:  March 31, 2000

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:     Windham Capital Management
Address:  780 Third Avenue
	    	New York, NY  10017

Form 13F File Number:  28-5606

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:  Neil M. McCarthy
Title:  Managing Partner
Phone:  212-371-6262

Signature, Place, and Date of Signing:

Neil M. McCarthy		New York, NY		05/15/00

Report Type (Check only one.):

[X]	13F HOLDINGS REPORT.  (Check here if all holdings of this
reporting mangers 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 holding in this reporting
manager are reported in this report and a portion are reported by
other reporting
manager(s).)

	Form 13F File Number	Name

	28-5606			Windham Capital Management

FORM 13F SUMMARY PAGE

Report Summary:

Number of Other Included Managers:	0

Form 13F Information Table Entry Total:	82

Form 13F Information Table Value Total:	405,992
							(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 manger filing this
report.

None




<TABLE>                 <C>                                      <C>
                                                                 FORM 13F INFORMATION TABLE
                                               VALUE     SHARES/ SH/PUT/INVSTMT  OTHER         VOTING AUTHORITY
NAME OF ISSUER          TITLE OF CLASS--CUSIP--(X$1000)  PRN AMT PRNCALLDSCRETN -MANAGER SOLE  SHARED  NONE
3COM             COM           885535104  1078  19380SH     SOLE                9780    0  9600
AMR              COM           001765106  3610 113252SH     SOLE               67530    0 45722
AT&T             COM           001957109  7615 135220SH     SOLE               82170    0 53050
ALLSTATE         COM           020002101   813  34150SH     SOLE               33940    0   210
AMERICA ONLINE   COM           02364J104  5211  77272SH     SOLE               52820    0 24452
AMERICAN EXPRESS COM           025816109  4623  31040SH     SOLE               21250    0  9790
AMERICAN INTERNATCOM           026874107  5946  54305SH     SOLE               34632    0 19673
ANHEUSER-BUSCH   COM           035229103  3744  60140SH     SOLE               35100    0 25040
APPLIED MATERIALSCOM           038222105  1905  20210SH     SOLE                9910    0 10300
AUTOMATIC DATA PRCOM           053015103  1172  24280SH     SOLE               11880    0 12400
AVERY DENNISON   COM           053611109  1625  26620SH     SOLE               13120    0 13500
AVON PRODUCTS    COM           054303102  2757  94270SH     SOLE               45170    0 49100
BELL ATLANTIC    COM           077853109  2102  34390SH     SOLE               16990    0 17400
BELLSOUTH        COM           079860102  2092  44620SH     SOLE               21920    0 22700
BOEING           COM           097023105   637  16850SH     SOLE               16770    0    80
CBS              COM           12490K107  2494  44040SH     SOLE               21740    0 22300
COMPAQ           COM           204493100  1144  42370SH     SOLE               21070    0 21300
CATERPILLAR      COM           149123101  1741  44140SH     SOLE               21540    0 22600
CHARLES SCHWAB   COM           808513105  4922  86628SH     SOLE               60698    0 25930
CHASE MANHATTAN  COM           16161A108  2766  31730SH     SOLE               15730    0 16000
CISCO SYSTEMS    COM           17275R102 16245 210120SH     SOLE              125390    0 84730
CITIGROUP        COM           172967101 17861 298297SH     SOLE              187998    0110299
CLEAR CHANNEL COMCOM           184502102  3404  49290SH     SOLE               29490    0 19800
CLOROX           COM           189054109  2731  82750SH     SOLE               39950    0 42800
COCA-COLA        COM           191216100  4137  88140SH     SOLE               57700    0 30440
COMCAST SPL-A    COM           200300200  3566  82210SH     SOLE               49220    0 32990
CORNING          COM           219350105  2272  11710SH     SOLE                7280    0  4430
DELL COMPUTERS   COM           247025109  4518  83770SH     SOLE               60990    0 22780
DISNEY (WALT)    COM           254687106  3883  94130SH     SOLE               60190    0 33940
DU PONT (E.I.) DECOM           263534109  6217 117440SH     SOLE               74865    0 42575
EMC              COM           268648102  3502  27795SH     SOLE               16935    0 10860
ELECTRONIC DATA SCOM           285661104  1274  19850SH     SOLE                9750    0 10100
EXXON MOBIL CORPOCOM           30231G102  9160 117529SH     SOLE               69029    0 48500
FORD MOTOR       COM           345370100  3817  83091SH     SOLE               55398    0 27693
GAP              COM           364760108  2742  55055SH     SOLE               27205    0 27850
GATEWAY          COM           367626108  1993  37570SH     SOLE               27070    0 10500
GENERAL ELECTRIC COM           369604103 22710 145926SH     SOLE               90290    0 55636
GENERAL MOTORS   COM           370442105  1961  23680SH     SOLE               11780    0 11900
GILLETTE         COM           375766102  3731  98990SH     SOLE               57080    0 41910
HALLIBURTON      COM           406216101  2356  57280SH     SOLE               28680    0 28600
HEWLETT-PACKARD  COM           428236103  3589  27010SH     SOLE               16050    0 10960
HOME DEPOT       COM           437076102  5558  86165SH     SOLE               57265    0 28900
INTEL            COM           458140100 36291 275059SH     SOLE              181765    0 93294
INTERNATIONAL BUSCOM           459200101  6656  56410SH     SOLE               36680    0 19730
JOHNSON & JOHNSONCOM           478160104  2229  31730SH     SOLE               17230    0 14500
LILY (ELI)       COM           532457108  4456  71150SH     SOLE               46760    0 24390
LUCENT           COM           549463107  6249 102021SH     SOLE               64951    0 37070
MCI WORLDCOM     COM           55268B106 10408 229693SH     SOLE              158753    0 70940
MARSH & MCLENNON COM           571748102  3253  29490SH     SOLE               14290    0 15200
MATTEL           COM           577081102   517  49200SH     SOLE               48920    0   280
MCDONALD'S       COM           580135101  4529 121170SH     SOLE               82320    0 38850
MERCK            COM           589331107  5665  91188SH     SOLE               57598    0 33590
MERRILL LYNCH    COM           590188108  3807  36260SH     SOLE               22620    0 13640
MICRON           COM           595112103  1283  10180SH     SOLE                5180    0  5000
MICROSOFT        COM           594918104 17786 167400SH     SOLE              101240    0 66160
MORGAN (J.P.)    COM           616880100  2905  22050SH     SOLE               10950    0 11100
MORGAN STANLEY DECOM           617446448  3377  40750SH     SOLE               24760    0 15990
MOTOROLA         COM           620076109  2218  15190SH     SOLE                7690    0  7500
NEXTEL COMMUNICATCOM           65332V103  1322   8920SH     SOLE                4320    0  4600
NIKE             COM           654106103  5185 130860SH     SOLE               85900    0 44960
NORTEL NETWORKS  COM           656569100  3553  28169SH     SOLE               13769    0 14400
NORTHERN TRUST   COM           665859104  3068  45410SH     SOLE               22610    0 22800
ORACLE SYSTEMS   COM           68389X105  6210  79557SH     SOLE               44767    0 34790
PEPSICO          COM           713448108  2962  84930SH     SOLE               40930    0 44000
PFIZER           COM           717081103 12799 350065SH     SOLE              238430    0111635
PHARMACIA        COM           71713U102  3247  63040SH     SOLE               34040    0 29000
PHILIP MORRIS    COM           718154107   588  27820SH     SOLE               27650    0   170
PROCTER & GAMBLE COM           742718109   350   6200SH     SOLE                6170    0    30
QUALCOMM INC.    COM           747525103  2635  17650SH     SOLE                8550    0  9100
ROYAL DUTCH PETROCOM           780257804  3378  58428SH     SOLE               39978    0 18450
SBC COMMUNICATIONCOM           78387G103  2645  62780SH     SOLE               30880    0 31900
SABRE HOLDINGS COCOM           785905100   400  10967SH     SOLE                8991    0  1976
SCHLUMBERGER     COM           806857108  8172 106828SH     SOLE               74547    0 32281
SPRINT           COM           852061100  3891  61510SH     SOLE               43750    0 17760
SPRINT PCS       COM           852061506  2253  34400SH     SOLE               16800    0 17600
SUN MICROSYSTEMS COM           866810104  4686  50010SH     SOLE               29130    0 20880
TEXACO           COM           881694103  2136  39740SH     SOLE               19640    0 20100
TEXAS INSTRUMENTSCOM           882508104  4002  25015SH     SOLE               14965    0 10050
TIME WARNER      COM           887315109 14655 146549SH     SOLE              100420    0 46129
TYCO INTERNATIONACOM           902124106  3293  65690SH     SOLE               47380    0 18310
UNITED TECHNOLOGICOM           913017109  1930  30550SH     SOLE               15050    0 15500
WAL-MART STORES  COM           931142103  6286 111260SH     SOLE               55060    0 56200
WALGREEN         COM           931422109   792  30760SH     SOLE               30580    0   180
WARNER-LAMBERT   COM           934488107  2588  26490SH     SOLE               14290    0 12200
WRIGLEY (W.M.) JRCOM           982526105  2975  38730SH     SOLE               18730    0 20000
XILINX INC.      COM           983919101  1420  17150SH     SOLE                8350    0  8800
YAHOO INC.       COM           984332106  1719  10030SH     SOLE                4930    0  5100



</TABLE>


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