<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: December 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: 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 11 February 2000
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.
<PAGE> 2
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: 180
Form 13F Information Table Value Total: $ 2,847,260
(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 73,286 2,018,216 SH SOLE 267,270 - 1,750,946
AIR EXPRESS INTL CORP COM 009104100 11,059 342,258 SH DEFINED 3,180 - 339,078
ALCOA INC COM 013817101 382 4,600 SH SOLE 4,600 - -
ALEXANDRIA REAL EST
EQTS INC COM 015271109 652 20,500 SH SOLE 1,000 - 19,500
ALLTEL CORP COM 020039103 317 3,838 SH SOLE 1,072 - 2,766
AMERICA ONLINE INC COM 02364J104 589 7,763 SH SOLE 300 - 7,463
AMERICAN GEN CORP COM 026351106 337 4,441 SH SOLE - - 4,441
AMERICAN HOME PRODS
CORP COM 026609107 1,087 27,687 SH SOLE 170 - 27,517
AMERICAN INTL
GROUP INC COM 026874107 50,023 462,637 SH SOLE 77,407 - 385,230
AON CORP COM 037389103 425 10,625 SH SOLE - - 10,625
APPLIED MATLS INC COM 038222105 291 2,300 SH SOLE - - 2,300
ASTRAZENECA PLC ADR SPONSORED ADR 046353108 6,555 157,005 SH SOLE 11,981 - 145,024
AT & T CORP LIBERTY
MEDIA GROUP COM 001957208 660 11,614 SH SOLE 7,086 - 4,528
AT&T CORP COM 001957109 94,845 1,866,578 SH DEFINED 300,939 280 1,565,359
ATLANTIC RICHFIELD
COMPANY COM 048825103 541 6,254 SH SOLE 1,570 - 4,684
AUTOMATIC DATA
PROCESSING COM 053015103 115,697 2,147,511 SH DEFINED 378,151 300 1,769,060
AXA-UAP ADR SPONS SPONSORED ADR 054536107 9,181 129,307 SH SOLE 9,050 - 120,257
BANK OF AMERICA COM 060505104 571 11,380 SH SOLE 226 - 11,154
BANK ONE CORP COM 06423A103 766 23,931 SH SOLE 9,263 - 14,668
BELL ATLANTIC CORP COM 077853109 560 9,098 SH SOLE - - 9,098
BELLSOUTH CORP COM 079860102 518 11,061 SH SOLE 1,000 - 10,061
BEMIS INC COM 081437105 15,552 445,933 SH DEFINED 34,720 - 411,213
BERKSHIRE HATHAWAY
INC CL A CL A 084670108 785 14 SH SOLE 9 - 5
BERKSHIRE HATHAWAY
INC DEL CL CL B 084670207 1,455 795 SH SOLE 226 - 569
BESTFOODS COM 08658U101 85,274 1,622,333 SH DEFINED 259,365 240 1,362,728
BIG DOG HLDGS INC COM 089128102 127 18,300 SH SOLE - - 18,300
BOC GROUP PLC ADR
SPONS SPONSORED ADR 055617609 2,781 65,240 SH SOLE 8,930 - 56,310
BP AMOCO ADR SPONSORED ADR 055622104 1,298 21,880 SH SOLE 13,450 - 8,430
BRISTOL MYERS
SQUIBB CO COM 110122108 2,232 34,780 SH DEFINED 8,320 190 26,270
BROKEN HILL
PROPRIETARY LTD AD SPONSORED ADR 112169602 7,671 288,787 SH SOLE 12,130 - 276,657
C H ROBINSON
WORLDWIDE INC COM 12541W100 5,184 130,420 SH SOLE 29,020 - 101,400
CABLE & WIRELESS PUB
LTD CO AD SPONSORED ADR 126830207 6,190 116,925 SH SOLE 8,630 - 108,295
CANON INC ADR ADR 138006309 8,383 206,668 SH SOLE 15,110 - 191,558
CAPITAL AUTOMOTIVE
REIT COM 139733109 156 12,800 SH SOLE - - 12,800
CATALINA MARKETING
CORP COM 148867104 256 2,210 SH SOLE - - 2,210
CENTER TR INC COM 151845104 203 21,000 SH SOLE 7,000 - 14,000
CERTRON CORP COM 157078106 14 54,230 SH SOLE - - 54,230
CHEVRON CORP COM 166751107 469 5,412 SH SOLE 300 - 5,112
CHUBB CORP COM 171232101 324 5,762 SH SOLE - - 5,762
CINCINNATI FINL CORP COM 172062101 1,462 46,869 SH DEFINED 19,354 130 27,385
CINTAS CORP COM 172908105 2,412 45,405 SH SOLE 12,880 - 32,525
CISCO SYS INC COM 17275R102 1,072 10,003 SH SOLE 2,720 - 7,283
CITIGROUP INC COM 172967101 805 14,455 SH SOLE 8,694 - 5,761
CITY NATL CORP COM 178566105 454 13,775 SH SOLE 13,100 - 675
CLAIRES STORES INC COM 179584107 20,058 896,430 SH SOLE 68,070 - 828,360
COCA COLA COM 191216100 86,369 1,482,723 SH SOLE 230,481 - 1,252,242
COLGATE PALMOLIVE CO COM 194162103 3,285 50,535 SH SOLE 3,100 - 47,435
COX COMMUNICATIONS
INC NEW CL COM 224044107 326 6,339 SH SOLE - - 6,339
CVB FINL CORP COM 126600105 938 40,582 SH SOLE 24,157 - 16,425
DALLAS SEMICONDUCTOR
CORP COM 235204104 8,416 130,600 SH DEFINED 12,590 - 118,010
DANAHER CORP COM 235851102 203 4,200 SH SOLE - - 4,200
DAY RUNNER INC COM 239545106 103 26,450 SH DEFINED - 6,250 20,200
DELL COMPUTER CORP COM 247025109 256 5,010 SH SOLE 2,560 - 2,450
DEVON ENERGY CORP NEW COM 25179M103 9,411 286,278 SH DEFINED 18,060 - 268,218
DIAGEO PLC ADR
SPONSORED SPONSORED ADR 25243Q205 4,669 145,898 SH SOLE 7,110 - 138,788
DISNEY COMMON STOCK COM 254687106 88,468 3,024,556 SH SOLE 486,740 - 2,537,816
DOVER CORP COM 260003108 331 7,288 SH SOLE 5,000 - 2,288
DPL INC COM 233293109 619 35,764 SH DEFINED 7,390 300 28,074
DUFF & PHELPS CR
RATING CO COM 26432F109 18,379 206,650 SH DEFINED 15,320 - 191,330
DUKE ENERGY CORP COM 264399106 853 17,008 SH DEFINED 7,080 180 9,748
E M C CORP MASS COM 268648102 325 2,972 SH SOLE - - 2,972
ELECTRONIC DATA SYS
CORP NEW SPONSORED ADR 285661104 91,506 1,367,035 SH DEFINED 237,700 220 1,129,115
ELSEVIER N V ADR
SPONS COM 290259100 7,268 304,401 SH SOLE 20,578 - 283,823
EMERGING MKTS
TELECOMMS FD COM 290887108 168 10,286 SH SOLE - - 10,286
EMERSON ELEC CO COM 291011104 77,609 1,352,661 SH DEFINED 198,320 250 1,154,091
ENDESA S A ADR SPONS SPONSORED ADR 29258N107 5,644 279,559 SH SOLE 6,780 - 272,779
ENRON CORP COM 293561106 440 9,912 SH SOLE - - 9,912
EQUIFAX INC COM 294429105 499 21,185 SH SOLE - - 21,185
ERICSSON L M TEL CO
ADR CL B S ADR 294821400 11,966 182,171 SH SOLE 55,624 - 126,547
EXCEL LEGACY CORP COM 300665106 76 23,040 SH SOLE - - 23,040
EXXON MOBIL
CORPORATION COM 30231G102 94,954 1,178,632 SH DEFINED 204,528 170 973,934
FDX CORP COM 31304N107 270 6,600 SH SOLE 5,400 - 1,200
FEDERAL NAT MORTGAGE
ASSN COM 313586109 82,297 1,318,063 SH DEFINED 205,440 200 1,112,423
FEDERAL SIGNAL CORP COM 313855108 12,918 804,246 SH SOLE 57,920 - 746,326
FIFTH THIRD BANCORP COM 316773100 6,241 85,051 SH SOLE 38,883 - 46,168
FORD MOTOR COM 345370100 319 5,992 SH SOLE 4,177 - 1,815
FOREMOST CORP AMER COM 345469100 5,337 188,082 SH DEFINED 170,000 6,050 12,032
FRANKLIN RES INC COM 354613101 715 22,300 SH SOLE 9,860 - 12,440
GAP INC COM 364760108 1,225 26,627 SH SOLE 12,607 - 14,020
GANNETT INC DEL COM 364730101 4,286 52,551 SH DEFINED 29,232 200 23,119
</TABLE>
<PAGE> 4
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>
GENERAL ELEC CO COM 369604103 118,677 766,892 SH DEFINED 147,511 120 619,261
GILLETTE CO COM 375766102 1,205 29,250 SH SOLE 3,740 - 25,510
GLACIER WTR SVCS INC COM 376395109 591 37,550 SH DEFINED 20,700 2,950 13,900
GRAINGER W W INC COM 384802104 772 16,145 SH SOLE 5,695 - 10,450
GROUPE DANONE ADR SPONS SPONSORED ADR 399449107 7,029 150,948 SH SOLE 10,350 - 140,598
GTE CORP COM 362320103 463 6,563 SH SOLE - - 6,563
HENRY JACK & ASSOC INC COM 426281101 23,243 432,933 SH SOLE 31,960 - 400,973
HERSHEY FOODS CORP COM 427866108 1,228 25,895 SH DEFINED 9,750 120 16,025
HEWLETT PACKARD CO COM 428236103 126,126 1,108,802 SH SOLE 185,908 - 922,894
HOME DEPOT INC COM 437076102 874 12,708 SH SOLE 1,395 - 11,313
HONEYWELL INTERNATIONAL,
INC. COM 438516106 495 8,583 SH SOLE - - 8,583
HOOPER HOLMES INC COM 439104100 21,062 817,930 SH DEFINED 50,530 - 767,400
HSB GROUP INC COM 40428N109 303 8,970 SH SOLE - - 8,970
HSBC HOLDINGS PLC SPONS
ADR SPONSORED ADR 404280406 8,222 115,189 SH SOLE 9,040 - 106,149
ILLINOIS TOOL WORKS INC COM 452308109 77,896 1,152,953 SH SOLE 189,210 - 963,743
ING GROEP N V ADR SPONS SPONSORED ADR 456837103 7,604 124,663 SH SOLE 9,744 - 114,919
INTEL CORP COM 458140100 121,565 1,476,868 SH SOLE 239,886 - 1,236,982
INTERNATIONAL BUSINESS
MACHINE COM 459200101 106,654 988,678 SH SOLE 152,050 - 836,628
INTERPUBLIC GROUP COS
INC COM 460690100 391 6,784 SH SOLE 6,374 - 410
IRT PPTY CO COM 450058102 105 13,500 SH SOLE 2,000 - 11,500
IWERKS ENTMT INC COM 465916104 9 12,500 SH SOLE - - 12,500
JOHNSON & JOHNSON COM 478160104 98,696 1,058,407 SH DEFINED 187,015 140 871,252
JONES PHARMA INC COM 480236108 8,504 195,780 SH DEFINED 25,790 - 169,990
KIMBERLY CLARK CORP COM 494368103 1,960 29,959 SH DEFINED 10,215 110 19,634
KIMCO RLTY CORP COM 49446R109 325 9,600 SH SOLE 700 - 8,900
KONINKLIJKE AHOLD NV
ADR SPONS SPONSORED ADR 500467303 5,280 176,358 SH SOLE 13,020 - 163,338
LA Z BOY INC COM 505336107 15,185 903,182 SH DEFINED 65,270 - 837,912
LANDAUER INC COM 51476K103 13,278 606,985 SH DEFINED 43,950 - 563,035
LINEAR TECHNOLOGY CORP COM 535678106 2,387 33,360 SH SOLE 2,430 - 30,930
LIQUI BOX CORP COM 536314107 10,028 202,583 SH DEFINED 5,150 - 197,433
LUCENT TECHNOLOGIES INC COM 549463107 4,668 62,239 SH SOLE 6,230 - 56,009
MARSH & MCLENNAN COS INC COM 571748102 102,309 1,069,203 SH DEFINED 178,676 170 890,357
MAY DEPT STORES CO COM 577778103 463 14,362 SH SOLE 5,820 - 8,542
MCDONALDS CORP COM 580135101 79,257 1,966,056 SH SOLE 258,894 - 1,707,162
MCI WORLDCOM INC COM 55268B106 333 6,275 SH SOLE 833 - 5,443
MEDTRONIC INC COM 585055106 81,682 2,241,695 SH SOLE 366,936 - 1,874,759
MERCK & CO INC COM 589331107 82,498 1,227,883 SH DEFINED 209,663 90 1,018,130
MERIDIAN RESOURCE CORP COM 58977Q109 345 112,708 SH DEFINED - 16,850 95,858
MERRILL LYNCH & CO INC COM 590188108 302 3,619 SH SOLE 2,700 - 919
MICROS SYS INC COM 594901100 240 3,240 SH SOLE - - 3,240
MICROSOFT CORP COM 594918104 11,666 99,925 SH SOLE 6,560 - 93,365
MINNESOTA MNG & MFG CO COM 604059105 792 8,087 SH SOLE 1,700 - 6,387
MONSANTO CO COM 611662107 278 7,840 SH SOLE 7,140 - 700
MORGAN J.P. & CO INC COM 616880100 529 4,181 SH SOLE 1,400 - 2,781
MORGAN STANLEY DEAN
WITTER NEW COM 617446448 1,841 25,792 SH SOLE 5,340 - 20,452
MORGAN STANLEY FIN PLC
CAP UT PREFERRED STOCKS 616906608 1,117 48,323 SH SOLE 600 - 47,723
MOTOROLA INC COM 620076109 1,028 6,980 SH SOLE 80 - 6,900
NATIONAL COMMERCE
BANCORP COM 635449101 23,773 1,047,857 SH DEFINED 128,844 630 918,383
NOKIA CORP SPONSORED
ADR SPONSORED ADR 654902204 3,045 15,939 SH SOLE 3,330 - 12,609
NORDSON CORP COM 655663102 14,309 296,564 SH DEFINED 24,830 - 271,734
NORFOLK SOUTHN CORP COM 655844108 846 41,260 SH SOLE 14,785 - 26,475
ORTEL CORP COM 68749W102 3,390 28,250 SH SOLE - - 28,250
PEPSICO INC COM 713448108 741 21,026 SH SOLE 1,948 - 19,078
PFIZER INC COM 717081103 3,076 94,841 SH SOLE 32,770 - 62,071
PLAINS ALL AMERN
PIPELINE L UN COM 726503105 1,098 84,425 SH DEFINED - 4,900 79,525
PLAINS RES INC COM 726540503 1,758 140,676 SH DEFINED 38,920 4,150 97,606
PPG INDS INC COM 693506107 79,500 1,270,733 SH DEFINED 218,832 250 1,051,651
PRIME RETAIL INC 8.50
CONV PFD PREFERRED STOCKS 741570303 252 21,330 SH DEFINED - 4,000 17,330
PROCTER & GAMBLE
COMPANY COM 742718109 99,501 908,164 SH DEFINED 154,359 70 753,735
QWEST COMMUNICATIONS
INTL INC COM 749121109 1,566 36,414 SH SOLE 748 - 35,666
REPSOL S A ADR SPONS SPONSORED ADR 76026T205 6,828 293,670 SH SOLE 13,640 - 280,030
REUTERS GROUP PLC ADR
SPONS SPONSORED ADR 76132M102 6,782 83,925 SH SOLE 5,211 - 78,714
REYNOLDS & REYNOLDS CO
CLASS A COM 761695105 19,133 850,357 SH DEFINED 62,440 - 787,917
ROYAL DUTCH PETE NY
REG SHS 1. COM 780257804 2,795 46,156 SH DEFINED 14,640 210 31,306
RPM INC OHIO COM 749685103 137 13,410 SH SOLE - - 13,410
SAP AG ADR SPONS PREF SPONSORED ADR 803054204 11,455 220,017 SH SOLE 13,450 - 206,567
SARA LEE CORP COM 803111103 16,735 758,546 SH DEFINED 40,520 500 717,526
SBC COMMUNICATIONS INC COM 78387G103 1,943 39,849 SH SOLE 200 - 39,649
SCHEIB EARL INC COM 806398103 47 16,120 SH SOLE - - 16,120
SCHERING PLOUGH CORP COM 806605101 2,006 47,351 SH SOLE 6,424 - 40,927
SCHLUMBERGER COM 806857108 203 3,610 SH SOLE - - 3,610
SONY CORP ADR ADR 835699307 7,587 26,644 SH SOLE 3,630 - 23,014
SPRINT CORP COM 852061100 281 4,170 SH SOLE 870 - 3,300
STATE STREET CORP COM 857477103 83,019 1,136,271 SH SOLE 193,390 - 942,881
STRAYER ED INC COM 863236105 19,197 972,012 SH DEFINED 80,610 - 891,402
SUN MICROSYSTEMS INC COM 866810104 734 9,480 SH SOLE 4,880 - 4,600
SUNTRUST BKS INC COM 867914103 449 6,519 SH SOLE - - 6,519
SYSCO CORP COM 871829107 205 5,190 SH SOLE 4,600 - 590
TIMBERLINE SOFTWARE INC COM 887134104 12,696 944,790 SH DEFINED 51,316 - 893,474
TIME WARNER INC COM 887315109 391 5,410 SH SOLE 5,150 - 260
</TABLE>
<PAGE> 5
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>
TOMKINS PLC ADR SPONS SPONSORED ADR 890030208 5,566 378,933 SH SOLE 16,150 - 362,783
TOOTSIE ROLL INDS INC COM 890516107 16,727 507,834 SH DEFINED 35,855 - 471,979
TOTAL SA ADR SPONS SPONSORED ADR 89151E109 9,402 135,772 SH SOLE 6,292 - 129,480
TYCO INTL LTD NEW COM 902124106 1,259 32,292 SH SOLE 1,780 - 30,512
U S WEST INC NEW COM 91273H101 200 2,783 SH SOLE - - 2,783
UNILEVER N V WI COM 904784709 6,081 111,711 SH SOLE 6,405 - 105,306
UNION PAC CORP COM 907818108 227 5,200 SH SOLE - - 5,200
UNOCAL CORP COM 915289102 313 9,315 SH SOLE - - 9,315
US RESTAURANT
PROPERTIES 7.72% PREFERRED STOCKS 902971209 327 23,600 SH SOLE 1,000 - 22,600
USEC INC COM 90333E108 779 111,350 SH SOLE - - 111,350
VALSPAR CORP COM 920355104 247 5,900 SH SOLE 4,900 - 1,000
VODAFONE AIRTOUCH PLC
SPONSORE SPONSORED ADR 92857T107 7,697 155,490 SH SOLE 20,220 - 135,270
WAL MART STORES INC COM 931142103 3,226 46,666 SH SOLE 30,930 - 15,736
WALGREEN COMPANY COM 931422109 642 21,961 SH SOLE 11,200 - 10,761
WARNER LAMBERT CO COM 934488107 485 5,915 SH SOLE 270 - 5,645
WASHINGTON FED INC COM 938824109 13,310 673,946 SH DEFINED 49,574 - 624,372
WESTVACO CORP COM 961548104 651 19,944 SH SOLE - - 19,944
WEYERHAEUSER CO COM 962166104 220 3,065 SH SOLE - - 3,065
WILLIAMS COS INC COM 969457100 289 9,458 SH SOLE - - 9,458
WRIGLEY WM JR CO COM 982526105 44,981 542,348 SH DEFINED 92,686 100 449,562
7,552,484 50,320 46,200,859
</TABLE>
