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 19000
America Online csus 02364J104 2139 14550 SH
Sole 14550 14550
American Tel & Tel csus 001957109 1156 14479 SH
Sole 14479 14479
Anadarko Petroleum csus 032511107 2439 64600 SH
Sole 64600 64600
Annaly Mort Mgm Inc. csus 035710409 231 23100 SH
Sole 23100 23100
Arguss Holdings csus 040282105 171 10650 SH
Sole 10650 10650
Bank One Corp csus 06423A103 4228 76779 SH
Sole 76779 76779
Bank of New York csus 064057102 3684 102500 SH
Sole 102500 102500
Benchmark Electronics csus 08160H101 2948 98275 SH
Sole 98275 98275
Berkshire Realty Co. csus 084710102 540 48300 SH
Sole 48300 48300
Bristol Myers Squibb csus 110122108 5816 90700 SH
Sole 90700 90700
Building One Services csus 120114103 344 20000 SH
Sole 20000 20000
C3 Inc. csus 22942P109 860 80450 SH
Sole 80450 80450
Cabletron Systems csus 126920107 1379 168450 SH
Sole 168450 168450
Casa Ole Restaurants csus 14712P104 232 60000 SH
Sole 60000 60000
Chase Manhattan Bank csus 16161A108 5437 66815 SH
Sole 66815 66815
Cisco Systems csus 17275R102 607 5536 SH
Sole 5536 5536
Citigroup csus 172967101 2519 39440 SH
Sole 39440 39440
Commerce Bank of NJ csus 200519106 914 22169 SH
Sole 22169 22169
Compaq Computer csus 204493100 3634 114698 SH
Sole 114698 114698
Cornerstone Realty csus 21922V102 1027 96650 SH
Sole 96650 96650
Cree Research csus 225447101 30950 659395 SH
Sole 659395 659395
Daimler-Chrysler csus D1668R123 4311 50233 SH
Sole 50233 50233
Delta Air Lines csus 247361108 6741 96998 SH
Sole 96998 96998
Du Pont csus 263534109 5942 102330 SH
Sole 102330 102330
Duke Realty Inv. csus 264411505 387 18000 SH
Sole 18000 18000
EPL Tech Inc. csus 268920204 126 30000 SH
Sole 30000 30000
Elder Beerman csus 284470101 233 27000 SH
Sole 27000 27000
Emulex Corp csus 292475209 2640 80000 SH
Sole 80000 80000
Ericsson, LM csus 294821400 1400 58780 SH
Sole 58780 58780
Exxon Corp csus 302290101 2919 41369 SH
Sole 41369 41369
FDX Corp. csus 31304N107 3785 40700 SH
Sole 40700 40700
Fairfield Community csus 304231301 710 79450 SH
Sole 79450 79450
Felcor Lodging Trust csus 31430F101 429 18500 SH
Sole 18500 18500
First Washington Realty csus 337489504 1056 49275 SH
Sole 49275 49275
Ford Motor Co csus 345370100 3492 61600 SH
Sole 61600 61600
General Electric Co csus 369604103 4995 45150 SH
Sole 45150 45150
Greenpoint Financial csus 395384100 344 9900 SH
Sole 9900 9900
HIE Inc. csus 40419w100 270 60000 SH
Sole 60000 60000
HRPT Properties Trust csus 40426W101 1172 86850 SH
Sole 86850 86850
Halliburton csus 406216101 2583 67100 SH
Sole 67100 67100
Healthcare REIT csus 42217K106 1495 69550 SH
Sole 69550 69550
Highwood REIT csus 431284108 917 38900 SH
Sole 38900 38900
Hospitality Prop Trust csus 44106M102 1244 45960 SH
Sole 45960 45960
Intel Corp csus 458140100 1988 16725 SH
Sole 16725 16725
J.Ray McDermott S.A. csus P64658100 1884 63050 SH
Sole 63050 63050
Jabil Circuit csus 466313103 2106 52000 SH
Sole 52000 52000
Johnson & Johnson csus 478160104 851 9100 SH
Sole 9100 9100
Koninklijke Philips Elec NV csus 500472105 5387 65350 SH
Sole 65350 65350
Lucent Technologies csus 549463107 4180 38707 SH
Sole 38707 38707
Marine Drilling Co csus 568240204 120 10900 SH
Sole 10900 10900
McDermott Intl Inc csus 580037109 800 31600 SH
Sole 31600 31600
MediaOne Group csus 58440J104 441 6952 SH
Sole 6952 6952
Merck & Co Inc csus 589331107 2689 33563 SH
Sole 33563 33563
Microsoft csus 594918104 430 4800 SH
Sole 4800 4800
Mobil Corp csus 607059102 684 7775 SH
Sole 7775 7775
Monsanto Co. csus 611662107 510 11100 SH
Sole 11100 11100
Noble Drilling csus 655042109 1787 102850 SH
Sole 102850 102850
Northern Telecom csus 665815106 308 4950 SH
Sole 4950 4950
Northwest Airlines csus 667280101 306 11000 SH
Sole 11000 11000
Oracle csus 68389X105 231 8775 SH
Sole 8775 8775
Peoples Heritage Financial Gro csus 711147108 3399 188840 SH
Sole 188840 188840
Pepsico Inc csus 713448108 229 5849 SH
Sole 5849 5849
Prime Retail csus 741570105 194 22125 SH
Sole 22125 22125
Procter & Gamble csus 742718109 445 4542 SH
Sole 4542 4542
Qualcomm Inc. csus 747525103 2034 16350 SH
Sole 16350 16350
Royal Dutch Petroleum csus 780257804 1135 21830 SH
Sole 21830 21830
Siemens AG csus 826197402 2573 38500 SH
Sole 38500 38500
Skytel Communications csus 83087q104 495 29750 SH
Sole 29750 29750
Southside Bancshares csus 844700104 1090 93790 SH
Sole 93790 93790
Storage USA csus 861907103 1331 46900 SH
Sole 46900 46900
Superior Energy csus 868157108 689 191650 SH
Sole 191650 191650
TW Industries csus 901272203 1091 67150 SH
Sole 67150 67150
Town & Country Realty csus 892081100 1066 70800 SH
Sole 70800 70800
Transcoastal Marine csus 893537100 800 200000 SH
Sole 200000 200000
US Air Group csus 911905107 1374 28150 SH
Sole 28150 28150
United Investors Realty Trust csus 910741107 424 58000 SH
Sole 58000 58000
Varian Med Sys csus 92220p105 4217 108825 SH
Sole 108825 108825
Vicor csus 925815029 375 30000 SH
Sole 30000 30000
Washington Mutual csus 939322103 2457 60100 SH
Sole 60100 60100
Weatherford Intl. csus 947074100 1951 74694 SH
Sole 74694 74694
Woodhead Industries csus 979438108 397 41000 SH
Sole 41000 41000
Zoltek csus 98975W104 528 70350 SH
Sole 70350 70350
Aetna 6.25% cv pfd C cpus 008117202 1212 16020 SH
Sole 16020 16020
CNB Capital Trust 1 cpus 12613G207 1388 53900 SH
Sole 53900 53900
Comcast Exchangeable cpus 200300408 994 12500 SH
Sole 12500 12500
Felcor Suite cv pfd A cpus 314305202 511 24200 SH
Sole 24200 24200
REPORT SUMMARY 87 DATA RECORDS 176659 0
OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED