D L CARLSON INVESTMENT GROUP,
INC.
FORM 13F
March 31, 1999
Voting Authority
--------------------------
Value Shares/ Sh/
Put/ Invstmt Other
Name of Issuer Title of class CUSIP (x$1000) Prn Amt Prn
Call Dscretn Managers Sole Shared None
- ------------------------------ ---------------- --------- -------- -------- ---
- ---- ------- ------------ -------- -------- --------
AMR Corp csus 001765106 1113 19000 SH
Sole 19000
America Online csus 02364J104 2139 14550 SH
Sole 8000 6550
American Tel & Tel csus 001957109 1156 14479 SH
Sole 7604 6875
Anadarko Petroleum csus 032511107 2439 64600 SH
Sole 61400 3200
Annaly Mort Mgm Inc. csus 035710409 231 23100 SH
Sole 12700 10400
Arguss Holdings csus 040282105 171 10650 SH
Sole 10650
Bank One Corp csus 06423A103 4228 76779 SH
Sole 53600 23179
Bank of New York csus 064057102 3684 102500 SH
Sole 84900 17600
Benchmark Elec. csus 08160H101 2948 98275 SH
Sole 91350 6925
Berkshire Realty Co. csus 084710102 540 48300 SH
Sole 26800 21500
Bristol Myers Squibb csus 110122108 5816 90700 SH
Sole 79800 10900
Building One Services csus 120114103 344 20000 SH
Sole 20000
C3 Inc. csus 22942P109 860 80450 SH
Sole 72100 8350
Cabletron Systems csus 126920107 1379 168450 SH
Sole 140000 28450
Casa Ole Restaurants csus 14712P104 232 60000 SH
Sole 60000
Chase Manhattan Bank csus 16161A108 5437 66815 SH
Sole 55700 11115
Cisco Systems csus 17275R102 607 5536 SH
Sole 986 4550
Citigroup csus 172967101 2519 39440 SH
Sole 34000 5440
Commerce Bank of NJ csus 200519106 914 22169 SH
Sole 17578 4591
Compaq Computer csus 204493100 3634 114698 SH
Sole 89532 25166
Cornerstone Realty csus 21922V102 1027 96650 SH
Sole 37200 59450
Cree Research csus 225447101 30950 659395 SH
Sole 460900 198495
Daimler-Chrysler csus D1668R123 4311 50233 SH
Sole 37804 12429
Delta Air Lines csus 247361108 6741 96998 SH
Sole 76076 20922
Du Pont csus 263534109 5942 102330 SH
Sole 78350 23980
Duke Realty Inv. csus 264411505 387 18000 SH
Sole 4800 13200
EPL Tech Inc. csus 268920204 126 30000 SH
Sole 30000
Elder Beerman csus 284470101 233 27000 SH
Sole 27000
Emulex Corp csus 292475209 2640 80000 SH
Sole 79500 500
Ericsson, LM csus 294821400 1400 58780 SH
Sole 48430 10350
Exxon Corp csus 302290101 2919 41369 SH
Sole 20360 21009
FDX Corp. csus 31304N107 3785 40700 SH
Sole 31350 9350
Fairfield Community csus 304231301 710 79450 SH
Sole 77000 2450
Felcor Lodging Trust csus 31430F101 429 18500 SH
Sole 6900 11600
First Washington Realty csus 337489504 1056 49275 SH
Sole 43600 5675
Ford Motor Co csus 345370100 3492 61600 SH
Sole 52000 9600
General Electric Co csus 369604103 4995 45150 SH
Sole 34150 11000
Greenpoint Financial csus 395384100 344 9900 SH
Sole 5700 4200
HIE Inc. csus 40419w100 270 60000 SH
Sole 60000
HRPT Properties Trust csus 40426W101 1172 86850 SH
Sole 75600 11250
Halliburton csus 406216101 2583 67100 SH
Sole 56200 10900
Healthcare REIT csus 42217K106 1495 69550 SH
Sole 50150 19400
Highwood REIT csus 431284108 917 38900 SH
Sole 27400 11500
Hospitality Prop Trust csus 44106M102 1244 45960 SH
Sole 37300 8660
Intel Corp csus 458140100 1988 16725 SH
Sole 13900 2825
J.Ray McDermott S.A. csus P64658100 1884 63050 SH
Sole 59200 3850
Jabil Circuit csus 466313103 2106 52000 SH
Sole 49000 3000
Johnson & Johnson csus 478160104 851 9100 SH
Sole 4750 4350
Koninklijke Philips Elec NV csus 500472105 5387 65350 SH
Sole 47450 17900
Lucent Technologies csus 549463107 4180 38707 SH
Sole 27441 11266
Marine Drilling Co csus 568240204 120 10900 SH
Sole 200 10700
McDermott Intl Inc csus 580037109 800 31600 SH
Sole 29700 1900
MediaOne Group csus 58440J104 441 6952 SH
Sole 1200 5752
Merck & Co Inc csus 589331107 2689 33563 SH
Sole 13750 19813
Microsoft csus 594918104 430 4800 SH
Sole 4800
Mobil Corp csus 607059102 684 7775 SH
Sole 4050 3725
Monsanto Co. csus 611662107 510 11100 SH
Sole 1400 9700
Noble Drilling csus 655042109 1787 102850 SH
Sole 91650 11200
Nortel Networks Corp. csus 656569100 308 4950 SH
Sole 2200 2750
Northwest Airlines csus 667280101 306 11000 SH
Sole 9500 1500
Oracle csus 68389X105 231 8775 SH
Sole 675 8100
Peoples Heritage Financial Gro csus 711147108 3399 188840 SH
Sole 92790 96050
Pepsico Inc csus 713448108 229 5849 SH
Sole 2000 3849
Prime Retail csus 741570105 194 22125 SH
Sole 22000 125
Procter & Gamble csus 742718109 445 4542 SH
Sole 400 4142
Qualcomm Inc. csus 747525103 2034 16350 SH
Sole 12300 4050
Royal Dutch Petroleum csus 780257804 1135 21830 SH
Sole 7150 14680
Siemens AG csus 826197402 2573 38500 SH
Sole 28250 10250
Skytel Communications csus 83087q104 495 29750 SH
Sole 25000 4750
Southside Bancshares csus 844700104 1090 93790 SH
Sole 91290 2500
Storage USA csus 861907103 1331 46900 SH
Sole 41900 5000
Superior Energy csus 868157108 689 191650 SH
Sole 167700 23950
TW Industries csus 901272203 1091 67150 SH
Sole 44650 22500
Town & Country Realty csus 892081100 1066 70800 SH
Sole 28750 42050
Transcoastal Marine csus 893537100 800 200000 SH
Sole 200000
US Air Group csus 911905107 1374 28150 SH
Sole 24450 3700
United Investors Realty Trust csus 910741107 424 58000 SH
Sole 58000
Varian Med Sys csus 92220p105 4217 108825 SH
Sole 84100 24725
Vicor csus 925815029 375 30000 SH
Sole 30000
Washington Mutual csus 939322103 2457 60100 SH
Sole 46853 13247
Weatherford Intl. csus 947074100 1951 74694 SH
Sole 68000 6694
Woodhead Industries csus 979438108 397 41000 SH
Sole 41000
Zoltek csus 98975W104 528 70350 SH
Sole 54850 15500
Aetna 6.25% cv pfd C cpus 008117202 1212 16020 SH
Sole 11500 4520
CNB Capital Trust 1 cpus 12613G207 1388 53900 SH
Sole 50000 3900
Comcast Exchangeable cpus 200300408 994 12500 SH
Sole 12500
Felcor Suite cv pfd A cpus 314305202 511 24200 SH
Sole 23000 1200
REPORT SUMMARY 87 DATA RECORDS 176659 0
OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED