<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: September 30, 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: KAYNE ANDERSON INVESTMENT MANAGEMENT, LLC
Address: 1800 AVENUE OF THE STARS
SECOND FLOOR
LOS ANGELES, CA 90067
Form 13F File Number: 28-05792
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: Richard A. Kayne
Title: Administrative Manager
Phone: (310) 556-2721
Signature, Place, and Date of Signing:
Richard A. Kayne Los Angeles, California 10 November, 1999
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
List of Other Managers Reporting for this Manager:
None
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934.
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KAYNE ANDERSON INVESTMENT MANAGEMENT, LLC
Form 13F SUMMARY PAGE
<TABLE>
<S> <C>
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 182
Form 13F Information Table Value Total: $ 3,551,430
(thousands)
</TABLE>
List of Other Included Managers:
NONE
<PAGE> 3
KAYNE ANDERSON INVESTMENT MANAGEMENT, LLC
FORM 13F INFORMATION TABLE
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------------------------------------------------------------------------------------------------------------------
TITLE VALUE SHARES or PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER OF CLASS CUSIP (X 1000) PRN AMT SH/PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ABBOTT LABS COM 002824100 92,506 2,521,447 SH DEFINED 2,213,895 - 307,552
AEGON NV ADR ORD AMER REG 007924103 393 4,539 SH DEFINED 4,539 - -
AIR EXPRESS
INTL CORP COM 009104100 19,054 839,832 SH DEFINED 520,954 - 318,878
ALCOA INC COM 013817101 285 4,600 SH DEFINED 4,600 - -
ALEXANDRIA
REAL EST EQTS
INC COM 015271109 954 32,400 SH SOLE 19,100 - 13,300
ALLIED SIGNAL
INC COM 019512102 341 5,695 SH SOLE 2,800 - 2,895
ALLTEL CORP COM 020039103 264 3,746 SH DEFINED 3,746 - -
AMERICA ONLINE
INC COM 02364J104 260 2,500 SH DEFINED 2,050 - 450
AMERICAN
EXPRESS CO COM 025816109 675 5,000 SH SOLE - - 5,000
AMERICAN GEN
CORP COM 026351106 328 5,186 SH SOLE 5,186 - -
AMERICAN
HERITAGE LIFE
INVT COM 026522102 4,192 132,046 SH DEFINED 100,585 - 31,461
AMERICAN HOME
PRODS CORP COM 026609107 1,271 30,619 SH DEFINED 26,109 - 4,510
AMERICAN INTL
GROUP INC COM 026874107 35,887 412,790 SH DEFINED 339,705 - 73,086
AMERITECH CORP
NEW COM 030954101 757 11,344 SH SOLE 3,412 - 7,932
AON CORP COM 037389103 388 13,126 SH SOLE 3,375 - 9,751
AT & T CORP
LIBERTY MEDIA
GROUP COM 001957208 489 13,114 SH DEFINED 7,086 - 6,028
ATLANTIC
RICHFIELD
COMPANY COM 048825103 576 6,500 SH DEFINED 4,150 - 2,350
AT&T CORP COM 001957109 90,898 2,089,610 SH DEFINED 1,767,081 - 322,529
AUTOMATIC DATA
PROCESSING COM 053015103 138,294 3,099,022 SH DEFINED 2,683,882 - 415,140
AVALONBAY
CMNTYS INC COM 053484101 205 6,065 SH SOLE 3,301 - 2,764
AXA-UAP ADR
SPONS SPONSORED ADR 054536107 10,617 166,377 SH DEFINED 102,352 - 64,025
BANK OF
AMERICA COM 060505104 566 10,172 SH DEFINED 7,150 - 3,022
BANK ONE CORP COM 06423A103 1,001 28,743 SH DEFINED 24,475 - 4,268
BELL ATLANTIC
CORP COM 077853109 607 9,022 SH DEFINED 5,920 - 3,102
BELLSOUTH CORP COM 079860102 561 12,459 SH SOLE 5,252 - 7,207
BEMIS INC COM 081437105 17,029 502,715 SH DEFINED 308,449 - 194,266
BERKSHIRE
HATHAWAY INC COM 084670108 770 14 SH DEFINED 12 - 2
BERKSHIRE
HATHAWAY INC
DEL CL CL A 084670207 1,618 872 SH DEFINED 527 - 345
BERKSHIRE RLTY
INC COM 084710102 306 25,500 SH DEFINED 3,900 - 21,600
BESTFOODS COM 08658U101 114,580 2,359,439 SH DEFINED 2,059,702 - 299,737
BIG DOG HLDGS
INC COM 089128102 56 10,000 SH SOLE - - 10,000
BOC GROUP PLC
ADR SPONS SPONSORED ADR 055617609 7,043 169,208 SH DEFINED 109,338 - 59,870
BP AMOCO ADR SPONSORED ADR 055622104 1,274 23,000 SH DEFINED 20,464 - 2,536
BRISTOL MYERS
SQUIBB CO COM 110122108 2,511 37,200 SH DEFINED 22,740 - 14,460
BROKEN HILL
PROPRIETARY
LTD ADR SPONSORED ADR 112169602 7,894 339,516 SH DEFINED 215,146 - 124,370
CABLE &
WIRELESS PUB
LTD CO ADR SPONSORED ADR 126830207 6,392 192,975 SH DEFINED 121,795 - 71,180
CADBURY
SCHWEPPES PLC
ADR ADR 127209302 244 8,800 SH SOLE 7,230 - 1,570
CANON INC ADR ADR 138006309 7,783 262,701 SH DEFINED 154,851 - 107,850
CAPITAL
AUTOMOTIVE
REIT COM 139733109 592 47,800 SH SOLE - - 47,800
CENTERTRUST
RETAIL PPTYS
INC COM 152038105 144 14,000 SH SOLE - - 14,000
CHEVRON CORP COM 166751107 326 3,672 SH DEFINED 2,200 - 1,472
CHUBB CORP COM 171232101 306 6,157 SH SOLE 5,857 - 300
CINCINNATI
FINL CORP COM 172062101 2,572 68,535 SH DEFINED 55,950 - 12,585
CINTAS CORP COM 172908105 3,056 52,865 SH DEFINED 44,935 - 7,930
CISCO SYS INC COM 17275R102 452 6,590 SH DEFINED 3,440 - 3,150
CITIGROUP INC COM 172967101 665 15,118 SH DEFINED 5,695 - 9,423
CITY NATL CORP COM 178566105 462 13,775 SH DEFINED 13,100 - 675
CLAIRES STORES
INC COM 179584107 14,992 905,149 SH DEFINED 564,689 - 340,460
COCA COLA COM 191216100 95,355 1,976,263 SH DEFINED 1,737,201 - 239,062
COLGATE
PALMOLIVE CO COM 194162103 2,419 52,866 SH DEFINED 34,200 - 18,666
CORAM
HEALTHCARE
CORP COM 218103109 13 20,000 SH SOLE 20,000 - -
COX
COMMUNICATIONS
INC NEW CL A CL A 224044107 265 6,339 SH SOLE 2,186 - 4,153
CVB FINL CORP COM 126600105 1,107 41,787 SH DEFINED 25,362 - 16,425
DANAHER CORP COM 235851102 221 4,200 SH SOLE 3,000 - 1,200
DAY RUNNER INC COM 239545106 186 22,200 SH SOLE 10,000 - 12,200
DEVON ENERGY
CORP NEW COM 25179M103 13,474 325,154 SH DEFINED 217,966 - 107,188
DIAGEO PLC ADR
SPONSORED SPON ADR NEW 25243Q205 6,971 168,240 SH DEFINED 104,546 - 63,694
DOVER CORP COM 260003108 277 6,778 SH DEFINED 5,889 - 889
DPL INC COM 233293109 1,020 57,864 SH DEFINED 49,494 - 8,370
DUFF & PHELPS
CR RATING CO COM 26432F109 9,124 114,133 SH DEFINED 79,323 - 34,810
DUKE PWR CO COM 264399106 1,131 20,518 SH DEFINED 15,588 - 4,930
EATON VANCE
CORP NON VTG COM NON VTG 278265103 20,299 634,336 SH DEFINED 416,279 - 218,057
EDISON INTL
COM COM 281020107 365 15,000 SH SOLE - - 15,000
ELECTRONIC
DATA SYS CORP
NEW COM 285661104 107,558 2,031,791 SH DEFINED 1,795,660 - 236,131
ELSEVIER N V
ADR SPONS SPON ADR NEW 290259100 8,053 390,462 SH DEFINED 257,332 - 133,130
EMERGING MKTS
TELECOMMS FD COM 290887108 105 10,286 SH SOLE 3,345 - 6,941
EMERSON ELEC
CO COM 291011104 121,538 1,923,443 SH DEFINED 1,692,938 - 230,505
ENDESA S A ADR
SPONS SPONSORED ADR 29258N107 6,222 325,334 SH DEFINED 207,080 - 118,254
</TABLE>
<PAGE> 4
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ENRON CORP COM 293561106 395 9,612 SH SOLE 6,212 - 3,400
EQUIFAX INC COM 294429105 998 35,485 SH DEFINED 21,400 - 14,085
ERICSSON L M
TEL CO ADR CL
B S ADR CL B SEK10 294821400 7,477 239,265 SH DEFINED 197,243 - 42,022
EXCEL LEGACY
CORP COM 300665106 114 27,300 SH SOLE 11,800 - 15,500
EXXON CORP COM 302290101 115,348 1,517,742 SH DEFINED 1,343,463 - 174,279
FDX CORP COM 31304N107 272 7,000 SH DEFINED 6,600 - 400
FEDERAL NAT
MORTGAGE ASSN COM 313586109 112,796 1,799,346 SH DEFINED 1,573,350 - 225,996
FEDERAL SIGNAL
CORP COM 313855108 17,947 902,972 SH DEFINED 574,550 - 328,422
FIDUCIARY TR
CO INTL COM 316495100 3,935 99,609 SH DEFINED 57,131 - 42,478
FIFTH THIRD
BANCORP COM 316773100 6,277 103,174 SH DEFINED 81,614 - 21,560
FORD MOTOR COM 345370100 230 4,577 SH DEFINED 4,577 - -
FOREMOST CORP
AMER COM 345469100 324 13,500 SH SOLE 10,000 - 3,500
FRANKLIN RES
INC COM 354613101 1,653 54,099 SH DEFINED 39,429 - 14,670
G A P INC COM 364760108 852 26,627 SH DEFINED 26,607 - 20
GANNETT INC
DEL COM 364730101 4,271 61,738 SH DEFINED 53,103 - 8,635
GENERAL ELEC CO COM 369604103 124,000 1,045,861 SH DEFINED 888,278 - 157,583
GILLETTE CO COM 375766102 15,362 452,659 SH DEFINED 431,642 - 21,017
GLACIER WTR
SVCS INC COM 376395109 658 39,300 SH SOLE 27,600 - 11,700
GRAINGER W W
INC COM 384802104 836 17,390 SH DEFINED 14,800 - 2,590
GROUPE DANONE
ADR SPONS SPONSORED ADR 399449107 7,851 162,086 SH DEFINED 99,438 - 62,648
GTE CORP COM 362320103 478 6,222 SH DEFINED 4,295 - 1,927
HAWAIIAN NAT
WTR INC COM 419883103 10 10,000 SH SOLE - - 10,000
HEALTH CARE
PPTY INVS INC COM 421915109 223 8,510 SH SOLE 5,310 - 3,200
HENRY JACK &
ASSOC INC COM 426281101 16,857 456,368 SH DEFINED 276,515 - 179,853
HERSHEY FOODS
CORP COM 427866108 15,708 322,624 SH DEFINED 312,544 - 10,080
HEWLETT
PACKARD CO COM 428236103 125,109 1,378,612 SH DEFINED 1,180,696 - 197,916
HOME DEPOT INC COM 437076102 407 5,928 SH DEFINED 3,000 - 2,928
HOOPER HOLMES
INC COM 439104100 27,586 1,076,545 SH DEFINED 682,945 - 393,600
HSB GROUP INC COM 40428N109 353 10,020 SH DEFINED 1,950 - 8,070
HSBC HOLDINGS
PLC SPONS ADR SPON ADR NEW 404280406 7,698 132,574 SH DEFINED 82,142 - 50,432
ILLINOIS TOOL
WORKS INC COM 452308109 121,823 1,633,843 SH DEFINED 1,427,565 - 206,278
ING GROEP N V
ADR SPONS SPONSORED ADR 456837103 11,539 210,749 SH DEFINED 131,321 - 79,428
INTEL CORP COM 458140100 147,981 1,991,340 SH DEFINED 1,729,236 - 262,104
INTERNATIONAL
BUSINESS
MACHINE COM 459200101 150,909 1,247,183 SH DEFINED 1,094,200 - 152,983
INTERPUBLIC
GROUP COS INC COM 460690100 262 6,374 SH DEFINED 6,374 - -
IRT PPTY CO COM 450058102 119 13,200 SH SOLE 8,500 - 4,700
IWERKS ENTMT
INC COM 465916104 13 12,500 SH SOLE - - 12,500
JOHNSON &
JOHNSON COM 478160104 129,235 1,406,642 SH DEFINED 1,201,140 - 205,502
KENT
ELECTRONICS
CORP 4.500% 0 SUB NT CV 4.5%04 490553AA2 5 6,000 PRN SOLE - - 6,000
KIMBERLY CLARK
CORP COM 494368103 2,697 51,124 SH DEFINED 39,548 - 11,576
KIMCO RLTY
CORP COM 49446R109 543 15,200 SH SOLE 8,900 - 6,300
KONINKLIJKE
AHOLD NV ADR
SPONS SPON ADR NEW 500467303 6,815 205,744 SH DEFINED 116,174 - 89,570
LA Z BOY INC COM 505336107 18,935 993,337 SH DEFINED 625,896 - 367,441
LANDAUER INC COM 51476K103 18,433 733,661 SH DEFINED 472,891 - 260,770
LINEAR
TECHNOLOGY
CORP COM 535678106 1,674 28,480 SH DEFINED 13,160 - 15,320
LIQUI BOX CORP COM 536314107 14,739 272,938 SH DEFINED 173,733 - 99,205
LUCENT
TECHNOLOGIES
INC COM 549463107 3,838 59,156 SH DEFINED 24,744 - 34,412
MARSH &
MCLENNAN COS
INC COM 571748102 106,903 1,560,627 SH DEFINED 1,359,483 - 201,144
MAY DEPT
STORES CO COM 577778103 927 25,436 SH DEFINED 15,517 - 9,919
MCDONALDS CORP COM 580135101 113,451 2,623,153 SH DEFINED 2,275,791 - 347,362
MCI WORLDCOM
INC COM 55268B106 405 5,635 SH DEFINED 2,621 - 3,014
MEDTRONIC INC COM 585055106 112,300 3,157,814 SH DEFINED 2,739,030 - 418,784
MERCK & CO INC COM 589331107 111,580 1,721,579 SH DEFINED 1,489,344 - 232,235
MERIDIAN
RESOURCE CORP COM 58977Q109 472 99,291 SH SOLE 3,433 - 95,858
MINNESOTA MNG
& MFG CO COM 604059105 722 7,518 SH DEFINED 5,532 - 1,986
MOBIL CORP COM 607059102 9,250 91,813 SH DEFINED 59,830 - 31,983
MONSANTO CO COM 611662107 301 8,427 SH DEFINED 7,840 - 587
MORGAN J.P.
& CO INC COM 616880100 465 4,066 SH DEFINED 2,733 - 1,333
MORGAN STANLEY
DEAN WITTER
NEW COM NEW 617446448 1,033 11,586 SH DEFINED 2,950 - 8,636
MORGAN STANLEY
FIN PLC UNIT EX 083015 616906608 1,149 46,323 SH SOLE 29,873 - 16,450
MOTOROLA INC COM 620076109 625 7,100 SH DEFINED 4,080 - 3,020
MUTUAL RISK
MGMT LTD COM 628351108 8,858 723,094 SH DEFINED 432,321 - 290,773
NATIONAL
COMMERCE
BANCORP COM 635449101 26,414 1,202,338 SH DEFINED 798,927 - 403,411
NIKE INC CL B CL B 654106103 228 4,000 SH DEFINED 4,000 - -
NORDSON CORP COM 655663102 16,749 341,817 SH DEFINED 213,195 - 128,622
NORFOLK SOUTHN
CORP COM 655844108 1,317 53,755 SH DEFINED 44,430 - 9,325
ORTEL CORP COM 68749W102 539 34,750 SH SOLE 28,250 - 6,500
PACIFIC CAP
BANCORP NEW COM 69404P101 672 19,500 SH DEFINED 11,500 - 8,000
PEPSICO INC COM 713448108 938 30,743 SH DEFINED 14,593 - 16,150
PFIZER INC COM 717081103 3,314 92,368 SH DEFINED 81,520 - 10,848
PLAINS ALL
AMERN
PIPELINE LP UNIT LTD PARTN 726503105 1,521 84,525 SH SOLE 1,000 - 83,525
PLAINS RES INC COM 726540503 1,807 101,106 SH SOLE 3,500 - 97,606
PNC FINANCIAL
CORP COM 693475105 513 9,740 SH DEFINED 9,740 - -
PPG INDS INC COM 693506107 119,331 1,988,844 SH DEFINED 1,750,947 - 237,897
PRIME RETAIL
INC 8.50 CONV
PFD PFD CONV SER B 741570303 294 21,130 SH DEFINED 3,800 - 17,330
PROCTER &
GAMBLE
COMPANY COM 742718109 123,298 1,315,175 SH DEFINED 1,147,529 - 167,646
PUBLIC STORAGE
INC DEP SHS
PFD PFD G 1/1000SH 74460D885 753 32,400 SH SOLE 19,100 - 13,300
</TABLE>
<PAGE> 5
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
REPSOL S A ADR
SPONS SPONSORED ADR 76026T205 7,929 397,697 SH DEFINED 243,253 - 154,444
REUTERS GROUP
PLC ADR SPONS SPONSORED ADR 76132M102 5,995 87,040 SH DEFINED 54,538 - 32,502
REYNOLDS &
REYNOLDS CO
CLASS A CL A 761695105 19,592 961,549 SH DEFINED 611,766 - 349,783
ROYAL DUTCH
PETE NY REG
SHS 1.25 NY REG GLD1.25 780257804 3,633 61,506 SH DEFINED 37,756 - 23,750
SARA LEE CORP COM 803111103 18,055 772,420 SH DEFINED 476,424 - 295,996
SBC
COMMUNICATIONS
INC COM 78387G103 1,322 25,889 SH DEFINED 17,627 - 8,262
SCHEIB EARL
INC COM 806398103 50 18,000 SH SOLE 8,000 - 10,000
SCHERING
PLOUGH CORP COM 806605101 2,039 46,750 SH DEFINED 39,226 - 7,524
SIZZLER INTL
INC COM 830139101 34 16,100 SH SOLE - - 16,100
SONY CORP ADR ADR NEW 835699307 8,456 56,352 SH DEFINED 32,844 - 23,508
SOUTHTRUST
CORP COM 844730101 245 6,823 SH DEFINED 4,387 - 2,436
STATE STREET
CORP COM 857477103 103,354 1,599,293 SH DEFINED 1,387,410 - 211,883
STRAYER ED INC COM 863236105 14,780 743,652 SH DEFINED 482,162 - 261,490
SUN
MICROSYSTEMS
INC COM 866810104 320 3,440 SH DEFINED 3,440 - -
SUNTRUST BKS
INC COM 867914103 421 6,410 SH SOLE - - 6,410
TIMBERLINE
SOFTWARE INC COM 887134104 16,481 884,910 SH DEFINED 565,218 - 319,692
TIME WARNER
INC COM 887315109 325 5,346 SH DEFINED 5,260 - 86
TOMKINS PLC
ADR SPONS SPONSORED ADR 890030208 7,467 439,227 SH DEFINED 278,497 - 160,730
TOOTSIE ROLL
INDS INC COM 890516107 17,669 537,459 SH DEFINED 343,880 - 1,935,800
TOTAL FINA SA SPONSORED ADR 89151E109 11,388 179,519 SH DEFINED 109,909 - 69,610
U S WEST INC
NEW COM 91273H101 215 3,775 SH SOLE 1,435 - 2,340
UNILAB CORP
NEW COM COM 904763109 151 26,600 SH DEFINED 5,400 - 21,200
UNILEVER N V
WI NY SHS NEW 904784709 7,573 111,164 SH DEFINED 67,918 - 43,246
UNION PAC CORP COM 907818108 250 5,200 SH SOLE 5,200 - -
UNOCAL CORP COM 915289102 346 9,335 SH SOLE 9,220 - 115
USEC INC COM 90333E108 1,238 120,750 SH SOLE 55,500 - 65,250
VODAFONE
AIRTOUCH PLC SPONSORED ADR 92857T107 8,447 177,655 SH DEFINED 128,555 - 49,100
WAL MART
STORES INC COM 931142103 2,204 46,332 SH DEFINED 38,298 - 8,034
WALGREEN
COMPANY COM 931422109 457 18,000 SH DEFINED 11,200 - 6,800
WALT DISNEY
COMPANY COM 254687106 102,145 3,928,663 SH DEFINED 3,443,340 - 485,323
WARNER LAMBERT
CO COM 934488107 396 5,960 SH DEFINED - - 5,960
WASHINGTON FED
INC COM 938824109 19,101 823,774 SH DEFINED 519,506 - 304,268
WELLS FARGO
NEW COM 949746101 117,838 2,973,826 SH DEFINED 2,565,215 - 408,611
WESTVACO CORP COM 961548104 530 20,694 SH SOLE - - 20,694
WILLIAMS COS
INC COM 969457100 585 15,555 SH DEFINED 14,455 - 1,100
WRIGLEY WM JR
CO COM 982526105 50,546 734,547 SH DEFINED 644,305 - 90,242
</TABLE>
