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, 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: Pekin, Singer & Shapiro Asset Management, Inc.
Address: 311 South Wacker Drive, Suite 4990
Chicago, Illinois 60606
13F File Number: 28-5740
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: Gregory J. Suhling
Title: Chief Financial Officer
Phone: 312-554-7529
Signature, Place, and Date of Signing:
Gregory J. Suhling Chicago, Illinois May 3, 1999
Report Type (Check only one.):
[ X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT
List of Other Managers Reporting for this Manager:
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE
ACT OF 1934.
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FORM 13F SUMMARY PAGE
REPORT SUMMARY:
NUMBER OF OTHER INCLUDED MANAGERS: 0
FORM 13F INFORMATION TABLE ENTRY TOTAL: 194
FORM 13F INFORMATION TABLE VALUE TOTAL: $174,780,000
LIST OF OTHER INCLUDED MANAGERS:
NO. 13F FILE NUMBER NAME
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<TABLE> <C> <C>
FORM 13F INFORMATION TABLE
AS OF DATE: 03/31/99
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
AAR CORP COM COM 000361105 415 23300 SH SOLE 0 0 23300
ABBOTT LABS COM 002824100 232 4950 SH SOLE 0 0 4950
ABRAXAS PETE CORP COM COM 003830106 55 31550 SH SOLE 0 0 31550
ACE LTD COM G0070K103 8001 256537 SH DEFINED 0 1000 255537
ADAPTEC INC CONV SUB NTS 4.750 CONVERTIBLE BOND 00651FAC2 270 325000 PRN SOLE 0 0 325000
AMAZON COM INC COM COM 023135106 396 2300 SH SOLE 0 0 2300
AMERICA ONLINE INC COM COM 02364J104 441 3000 SH DEFINED 0 0 3000
AMERICAN GEN DEL L L CONVERTIBLE PREF 02637G200 1087 12150 SH SOLE 0 0 12150
AMERICAN HOME PRODUCTS CORP COM 026609107 457 7000 SH SOLE 0 0 7000
AMERITECH CORP NEW COM COM 030954101 874 15174 SH SOLE 0 0 15174
AMGEN INC COM 031162100 216 2880 SH SOLE 0 0 2880
AMLI RESIDENTIAL SH BEN INT COM 001735109 2634 127700 SH DEFINED 0 2900 124800
ANTEC CORP COM 03664P105 3587 166840 SH DEFINED 0 1000 165840
ARCHER DANIELS MIDLAND COM 039483102 800 54472 SH SOLE 0 0 54472
ASSOCIATES FIRST CAP CORP CL A COM 046008108 241 5354 SH SOLE 0 0 5354
AT & T CORP. COM 001957109 1705 32039 SH SOLE 0 0 32039
AURORA ELECTRS INC 7.750% 04/1 CONVERTIBLE BOND 051629AC7 1 7000 PRN SOLE 0 0 7000
AVX CORP NEW COM COM 002444107 342 21400 SH DEFINED 0 500 20900
BANK NEW YORK INC COM 064057102 302 8400 SH SOLE 0 0 8400
BANK ONE CORP COM 06423A103 1271 23086 SH DEFINED 0 324 22762
BANKAMERICA CORP NEW COM 06605F102 204 2894 SH SOLE 0 0 2894
BEAR STEARNS FINANCE LLC PFD E PREFERRED STOCKS G09198105 889 35560 SH DEFINED 0 2900 32660
BECTON DICKINSON & CO COM 075887109 245 6400 SH SOLE 0 0 6400
BELDEN INC COM COM 077459105 229 13400 SH DEFINED 0 1000 12400
BELL ATL FINL BONDS 5.750% 04/ CONVERTIBLE BOND 07785GAB6 1058 1000000 PRN SOLE 0 0 1000000
BELL ATLANTIC CORP COM 077853109 289 5596 SH SOLE 0 0 5596
BELLSOUTH CORP COM 079860102 355 8868 SH SOLE 0 0 8868
BERKLEY, W.R. CORP COM 084423102 207 8450 SH SOLE 0 0 8450
BLACKROCK INVT QLTY TERM TR CO COM 09247J102 169 19500 SH SOLE 0 0 19500
BOEING CO COM 097023105 298 8758 SH DEFINED 0 150 8608
BP AMOCO P L C ADR SPONSORED COM 055622104 1349 13355 SH SOLE 0 0 13355
BRISTOL MYERS SQUIBB CO COM 110122108 271 4228 SH SOLE 0 0 4228
BURZYNSKI RESH INST INC COM COM 123159105 9 54000 SH SOLE 0 0 54000
CALENERGY CAP TRUST II 6.250% CONVERTIBLE PREF 12946P403 368 8000 SH SOLE 0 0 8000
CANADIAN NATL RY CO COM COM 136375102 5862 105391 SH DEFINED 0 1000 104391
CARNIVAL CRUISE LINE INC CL A COM 143658102 7803 160670 SH DEFINED 0 1200 159470
CELADON GROUP INC COM 150838100 240 29500 SH SOLE 0 0 29500
CELLSTAR CORP 5.000% 10/15/02 CONVERTIBLE BOND 150925AC9 95 125000 PRN DEFINED 0 30000 95000
CELSION CORP COM COM 15117N107 15 20000 SH SOLE 0 0 20000
CHEVRON CORP COM COM 166751107 222 2500 SH SOLE 0 0 2500
CHOCK FULL O NUTS CORP 7.000% CONVERTIBLE BOND 170268AC0 23 25000 PRN SOLE 0 0 25000
CISCO SYS INC COM 17275R102 652 5950 SH SOLE 0 0 5950
CITIGROUP INC. COM 172967101 4823 75513 SH SOLE 0 0 75513
CNF TR I GTD TECONS A CV CONVERTIBLE PREF 12612V205 1682 30300 SH SOLE 0 0 30300
COHO ENERGY INC COM COM 192481109 130 207740 SH DEFINED 0 4500 203240
COMCAST CORP PHONES 0.000% 05/ CONVERTIBLE PREF 200300408 796 10000 SH SOLE 0 0 10000
COMPUTER SCIENCES CORP COM 205363104 221 4000 SH SOLE 0 0 4000
CORNING INC COM 219350105 826 13766 SH DEFINED 0 300 13466
CORPORATE EXPRESS CONV NTS 4.5 CONVERTIBLE BOND 219888AE4 889 990000 PRN SOLE 0 0 990000
CSX CORP COM 126408103 1133 29100 SH SOLE 0 0 29100
DECS TR IV DECS EXCHBLE CONVERTIBLE PREF 243664208 120 15000 SH SOLE 0 0 15000
DEERE & CO. COM 244199105 2557 66200 SH SOLE 0 0 66200
DENAMERICA CORP COM COM 248225104 23 22600 SH SOLE 0 0 22600
DLJ CAPITAL TRUST I TR PFD SEC PREFERRED STOCKS 23321W202 258 10000 SH DEFINED 0 1000 9000
DOW CHEMICAL CORP COM 260543103 252 2700 SH SOLE 0 0 2700
DURA PHARMACEUTICALS 3.500% 07 CONVERTIBLE BOND 26632SAA7 344 455000 PRN SOLE 0 0 455000
EASTMAN KODAK CO COM 277461109 2932 45899 SH SOLE 0 0 45899
EL PASO ENERGY CAP CONV PFD 4. CONVERTIBLE PREF 283678209 890 18500 SH SOLE 0 0 18500
EQUITY RESIDENTIAL PPTYS TR PF CONVERTIBLE PREF 29476L826 670 25750 SH DEFINED 0 700 25050
EQUITY RESIDENTIAL PROP CONVRT CONVERTIBLE PREF 29476L859 725 33700 SH SOLE 0 0 33700
EXXON CORP COM 302290101 1476 20915 SH DEFINED 0 200 20715
FEDERAL NAT MORTGAGE ASSN COM 313586109 377 5448 SH SOLE 0 0 5448
FEDERAL SIGNAL CORP COM COM 313855108 716 34300 SH DEFINED 0 2100 32200
FELCOR LODGING TR INC COM COM 31430F101 213 9200 SH DEFINED 0 1300 7900
FIRST MERCHANTS ACCEP CORP COM 320816101 0 49600 SH SOLE 0 0 49600
FIRSTSERVICE CORP SUB VTG SH COM 33761N109 131 10000 SH SOLE 0 0 10000
FLEETWOOD CAPITAL TRUST PFD PREFERRED STOCKS 339072407 214 5000 SH SOLE 0 0 5000
GATX CORP COM 361448103 766 23254 SH SOLE 0 0 23254
GAYLORD CONTAINER CORP CL A COM 368145108 84 11172 SH SOLE 0 0 11172
GENERAL ELECTRIC CO COM 369604103 3777 34144 SH DEFINED 0 200 33944
GENERAL MOTORS CORP COM 370442105 205 2356 SH SOLE 0 0 2356
GOLDEN ST BANCORP INC LTGTN TR WARRANT AND RIGH 381197136 382 78800 SH SOLE 0 0 78800
GOLDEN STATE BANCORP COM 381197102 1753 78800 SH SOLE 0 0 78800
GOODRICH B F CO COM COM 382388106 487 14200 SH SOLE 0 0 14200
GTE CORP COM 362320103 247 4090 SH SOLE 0 0 4090
GULF USA CORP COM COM 4025719B1 8 61940 SH DEFINED 0 5940 56000
HALLIBURTON CO COM COM 406216101 4039 104910 SH DEFINED 0 2000 102910
HANNA M A CO COM COM 410522106 177 13800 SH DEFINED 0 1400 12400
HA-LO INDS INC COM COM 404429102 596 48425 SH SOLE 0 0 48425
HCR MANOR CARE INC COM COM 404134108 404 17700 SH DEFINED 0 1200 16500
HEALTHSOUTH CORP SUB NT 3.250% CONVERTIBLE BOND 421924AF8 408 500000 PRN DEFINED 0 10000 490000
HEALTHSOUTH CORP SUB NT 3.250% CONVERTIBLE BOND 421924AD3 408 500000 PRN SOLE 0 0 500000
HEARTLAND EXPRESS INC COM COM 422347104 336 22100 SH DEFINED 0 2300 19800
HELMERICH & PAYNE INC COM COM 423452101 200 8800 SH SOLE 0 0 8800
HILTON HOTELS CORP CVT 5.000% CONVERTIBLE BOND 432848AL3 938 1000000 PRN SOLE 0 0 1000000
HVIDE MARINE INC CL A COM 448515106 89 20700 SH DEFINED 0 1700 19000
IDEX CORP COM COM 45167R104 5309 225318 SH DEFINED 0 3975 221343
IMMUNE RESPONSE CORP DEL COM 45252T106 930 105500 SH SOLE 0 0 105500
INCO LTD CVT 7.750% 03/15/16 CONVERTIBLE BOND 453258AH8 1109 1250000 PRN SOLE 0 0 1250000
INGERSOLL RAND PRIDES 6.750% CONVERTIBLE PREF 456867209 985 39000 SH SOLE 0 0 39000
INTEL CORP COM 458140100 328 5520 SH DEFINED 0 200 5320
INTL BUSINESS MACHINES CORP COM 459200101 8438 47607 SH SOLE 0 0 47607
IONICS INC COM COM 462218108 340 11300 SH DEFINED 0 600 10700
IPC HOLDINGS LTD COM COM G4933P101 1344 67624 SH SOLE 0 0 67624
KELLSTROM INDS INC 5.500% 06/1 CONVERTIBLE BOND 488035AE6 578 750000 PRN SOLE 0 0 750000
KIMBERLY CLARK CORP COM 494368103 218 4550 SH SOLE 0 0 4550
KOPIN CORP COM COM 500600101 2284 165360 SH DEFINED 0 1500 163860
KYOCERA CORP ADR COM 501556203 289 5500 SH DEFINED 0 400 5100
LECHTERS INC CONV 5.000% 09/27 CONVERTIBLE BOND 995240AA6 102 175000 PRN SOLE 0 0 175000
LEUCADIA NATL CORP 7.750% 05/1 CONVERTIBLE BOND 527288AC8 24 25000 PRN SOLE 0 0 25000
LO JACK CORP COM COM 539451104 206 26800 SH DEFINED 0 600 26200
LOEWS CORP 3.125% 09/15/07 CONVERTIBLE BOND 540424AL2 1066 1250000 PRN SOLE 0 0 1250000
LUCENT TECHNOLOGIES INC COM COM 549463107 703 13020 SH DEFINED 0 72 12948
MAGNA INTL INC 4.875% 02/15/05 CONVERTIBLE BOND 559222AF1 499 500000 PRN SOLE 0 0 500000
MARK IV IND CONV SUB NT 144 4. CONVERTIBLE BOND 570387AR1 472 575000 PRN SOLE 0 0 575000
MARK IV IND CONV SUB NT 144 4. CONVERTIBLE BOND 570387AN0 616 750000 PRN SOLE 0 0 750000
MAY DEPT STORES CO COM 577778103 360 9210 SH SOLE 0 0 9210
MEDICAL CARE INTL INC SUB D 7. CONVERTIBLE BOND 584505AB7 572 615000 PRN SOLE 0 0 615000
MEDPARTNERS INC NEW 6.5% TAPS CONVERTIBLE PREF 58503X206 211 27500 SH SOLE 0 0 27500
MEDPARTNERS INC NEW COM COM 58503X107 575 121000 SH SOLE 0 0 121000
MERCK & CO INC COM 589331107 1266 15800 SH SOLE 0 0 15800
MERRILL LYNCH & CO INC STRYPES CONVERTIBLE PREF 590188751 236 10500 SH SOLE 0 0 10500
MICROSOFT CORP COM 594918104 229 2560 SH SOLE 0 0 2560
MOBIL CORP COM 607059102 653 7426 SH SOLE 0 0 7426
MOLEX INC COM 608554101 2655 90381 SH DEFINED 0 3449 86932
MONSANTO CO COM 611662107 3814 83017 SH DEFINED 0 2100 80917
MONSANTO CO PFD ADJ 6.500% CONVERTIBLE PREF 611662305 1525 32800 SH SOLE 0 0 32800
MORTON INTERNATIONAL NEW COM 619335102 455 12372 SH SOLE 0 0 12372
MOTOROLA INC COM 620076109 1699 23200 SH DEFINED 0 100 23100
NATIONAL AUSTRALIA BK LTD CAP CONVERTIBLE PREF 632525309 2953 94300 SH DEFINED 0 3000 91300
NCR CORP NEW COM COM 62886E108 4743 94862 SH DEFINED 0 2400 92462
NEWELL FINANCIAL 5.25% 12/01/2 CONVERTIBLE PREF 651195208 987 17500 SH SOLE 0 0 17500
NEWELL FINL TR I 5.250% PFD PREFERRED STOCKS 651195307 338 5900 SH DEFINED 0 300 5600
NEWSCORP OVERSEAS PREF SHS SER PREFERRED STOCKS G6478B108 348 13900 SH DEFINED 0 1000 12900
NORTH AMER VACCINE CONV SUB 6. CONVERTIBLE BOND 657201AC3 295 590000 PRN SOLE 0 0 590000
NORTH AMER VACCINE REG S CN 6. CONVERTIBLE BOND 571995JR1 198 395000 PRN SOLE 0 0 395000
NORTH AMERICAN VACCINE CVT 6.5 CONVERTIBLE BOND 657201AA7 250 500000 PRN SOLE 0 0 500000
NORTH AMERN VACCINE INC COM COM 657201109 1497 244390 SH DEFINED 0 4200 240190
NUCOR CORP COM COM 670346105 388 8800 SH DEFINED 0 1000 7800
ODETICS INC CL A COM 676065204 430 44056 SH SOLE 0 0 44056
OMI CORP COM COM Y6476W104 52 26000 SH SOLE 0 0 26000
ORYX ENERGY CO CVT 7.500% 05/1 CONVERTIBLE BOND 68763FAD2 60 60000 PRN SOLE 0 0 60000
OWENS CORNING COM COM 69073F103 363 11400 SH DEFINED 0 500 10900
OWENS ILL INC PFD CONV 4.750% CONVERTIBLE PREF 690768502 419 11500 SH SOLE 0 0 11500
OWENS-CORNING CAPITAL LLC 6.50 CONVERTIBLE PREF 690733209 450 10000 SH SOLE 0 0 10000
OXY CAP TR I TOPS 8.16% PREFERRED STOCKS 692070204 549 22300 SH DEFINED 0 1000 21300
PACIFIC TELESIS FING I TR ORG PREFERRED STOCKS 694887209 275 10900 SH DEFINED 0 200 10700
PALL CORP COM 696429307 681 41100 SH DEFINED 0 1000 40100
PENNZOIL CO SR DEB 4.950% 08/1 CONVERTIBLE BOND 709903BH0 1244 1250000 PRN SOLE 0 0 1250000
PEPSICO INC COM 713448108 909 23200 SH DEFINED 0 400 22800
PFIZER INC COM 717081103 359 2586 SH SOLE 0 0 2586
PHILADELPHIA CONS HLDG CORP IN CONVERTIBLE PREF 717528301 684 72500 SH SOLE 0 0 72500
PHILIP MORRIS COS INS COM 718154107 1157 32871 SH SOLE 0 0 32871
PHILIP SVCS CORP COM COM 71819M103 16 62900 SH SOLE 0 0 62900
PICO HLDGS INC COM NEW COM 693366205 240 12948 SH SOLE 0 0 12948
POSSIS CORP COM 737407106 100 10000 SH SOLE 0 0 10000
PRISON RLTY CORP COM COM 74264N105 296 17000 SH DEFINED 0 300 16700
PROCTER & GAMBLE CO COM 742718109 294 3000 SH SOLE 0 0 3000
QUANEX CORP COM 747620102 591 38100 SH SOLE 0 0 38100
QUANEX CORP CVT DEB 6.880% 06/ CONVERTIBLE BOND 747620AC6 3176 3640000 PRN SOLE 0 0 3640000
QUANEX CORP CVT DEB 6.880% 06/ CONVERTIBLE BOND 747620AC6 44 50000 PRN OTHER 0 0 50000
QUANTUM CORP COM COM 747906105 315 17485 SH SOLE 0 0 17485
RALSTON PURINA CO CONV PFD 7.0 CONVERTIBLE PREF 751277401 450 10000 SH SOLE 0 0 10000
RESPIRONICS INC COM COM 761230101 495 37500 SH DEFINED 0 1700 35800
ROUSE CO PFD CONV B % CONVERTIBLE PREF 779273309 373 10000 SH SOLE 0 0 10000
ROYAL DUTCH PETRO-NY SHARES COM 780257804 2589 49780 SH SOLE 0 0 49780
SBC COMMUNICATIONS, INC COMMON COM 78387G103 557 11808 SH DEFINED 0 800 11008
SCHLUMBERGER LTD COM 806857108 594 9870 SH SOLE 0 0 9870
SCHWAB CHARLES CORP NEW COM COM 808513105 288 3000 SH DEFINED 0 0 3000
SCOTTISH ANNUITY & LIFE HLDGOR COM G7885T104 139 14250 SH SOLE 0 0 14250
SIMULA INC CONV SR SUB NTS 8.0 CONVERTIBLE BOND 829206AB7 249 300000 PRN SOLE 0 0 300000
SOLA INTL INC COM COM 834092108 1938 160684 SH DEFINED 0 1800 158884
SPIEKER PPTYS INC PFD SR C 7.8 PREFERRED STOCKS 848497301 253 10500 SH DEFINED 0 1000 9500
ST JOE CORP COM COM 790148100 871 35932 SH SOLE 0 0 35932
TDS CAP II GTD TR ORG PFD PREFERRED STOCKS 87235R203 310 12400 SH SOLE 0 0 12400
TECHNOMATIX TECH CONV SUB 5.25 CONVERTIBLE BOND 878732AA4 510 750000 PRN SOLE 0 0 750000
TEXACO INC COM 881694103 1257 22141 SH DEFINED 0 500 21641
TEXAS UTILS CO INCOME PRIDES PREFERRED STOCKS 882848203 1466 27500 SH SOLE 0 0 27500
TEXTRON CAP I TR PFD SE 7.92 PREFERRED STOCKS 883198202 210 8300 SH SOLE 0 0 8300
THE CHASE MANHATTEN CORPORATIO COM 16161A108 310 3814 SH DEFINED 0 400 3414
THERMO INSTR SYS INC 4.000% 01 CONVERTIBLE BOND 883559AE6 41 50000 PRN SOLE 0 0 50000
THERMO INSTRUMENT SYS CONV 4.5 CONVERTIBLE BOND 883559AC0 1106 1250000 PRN SOLE 0 0 1250000
TII INDS INC COM NEW COM 872479209 63 38900 SH DEFINED 0 4500 34400
TIME WARNER INC COM 887315109 600 8480 SH DEFINED 0 0 8480
TIMKEN CO COM COM 887389104 179 11000 SH SOLE 0 0 11000
TOWER AUTOMOTIVE 3.375% 6/30/1 CONVERTIBLE PREF 891706202 428 10000 SH SOLE 0 0 10000
TRANSAMERICA CUM MIPS PREFERRED STOCKS 893490201 394 15400 SH DEFINED 0 2000 13400
TRAVELERS PPTY CAS CORP CL A COM 893939108 492 13775 SH SOLE 0 0 13775
TRENWICK GROUP INC COM COM 895290104 242 8600 SH SOLE 0 0 8600
TRINET CORP RLTY TR INC PFD SE PREFERRED STOCKS 896287406 278 13600 SH DEFINED 0 1000 12600
TUSCARORA PLASTIC INC COM 900902107 375 31900 SH DEFINED 0 1000 30900
U.S. FILTER CORP CONV 4.500% 1 CONVERTIBLE BOND 911843AF7 1250 1275000 PRN SOLE 0 0 1275000
UICI COM COM 902737105 297 13200 SH SOLE 0 0 13200
UNION PACIFIC CORP COM 907818108 284 5318 SH SOLE 0 0 5318
UNIQUE CASUAL RESTAURANTS INC COM 90915K100 1338 274500 SH DEFINED 0 1500 273000
UNOCAL CAP TRUST 6.25% TR CONV CONVERTIBLE PREF 91528T207 1377 25500 SH SOLE 0 0 25500
USA WASTE SERVICES SUB CNV 4.0 CONVERTIBLE BOND 902917AB9 574 500000 PRN SOLE 0 0 500000
VAN KAMPEN AMERN CAP SR INCMCO COM 920961109 131 14200 SH DEFINED 0 2000 12200
VISHAY INTERTECHNOLOGY COM 928298108 2793 192649 SH DEFINED 0 2573 190076
VLSI TECH INC CONV SUB NTS 8.2 CONVERTIBLE BOND 918270AB5 534 542000 PRN DEFINED 0 30000 512000
WASTE MANAGEMENT INC COM 94106L109 335 7545 SH DEFINED 0 345 7200
WELLS FARGO NEW COM 949746101 298 8500 SH SOLE 0 0 8500
WENDYS FING I GTCST PFD A CONVERTIBLE PREF 950588202 1175 19500 SH SOLE 0 0 19500
WENDYS INTERNATIONAL COM 950590109 665 23400 SH DEFINED 0 1000 22400
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