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
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Check here if Amendment [ X ] ; Amendment Number: 1
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This Amendment (Check only one.): [ X ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Skyline Asset Management
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Address: 311 South Wacker Drive
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Suite 4500
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Chicago, IL 60606
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Form 13F File Number: 28-5324
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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: Stephen F. Kendall
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Title: Chief Operating Officer
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Phone: (312) 913-3997
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Signature, Place, and Date of Signing:
/s/Stephen F. Kendall Chicago, IL 5/7/99
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Signature City, State Date
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
<PAGE>
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: NONE
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Form 13F Information Table Entry Total: 149
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Form 13F Information Table Value Total: $929,778
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(thousands)
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<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
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TITLE OF VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER
NAME OF ISSUER CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS VOTING AUTHORITY
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SHARED SHARED
SOLE DEFINED OTHER SOLE SHARED NONE
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
AARON RENTS, INC. COMMON 2535201 3,748 239,900 201,900 38,000
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ADAC LABORATORIES COMMON 5313200 2,320 170,300 X 160,600 9,700
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ADVO INC. COMMON 7585102 6,904 357,500 X 296,700 60,800
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ALBANY INTERNATIONAL COMMON 12348108 9,661 515,232 X 435,030 80,202
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ALLIED HEALTHCARE PRO COMMON 19222108 227 117,000 X 117,000 0
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AMERICAN CAP STRATEGI COMMON 24937104 4,184 244,300 X 234,100 10,200
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AMERICAN HERITAGE LIF COMMON 26522102 15,109 648,100 X 558,700 89,400
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AMERICAN HOMESTAR COR COMMON 26651109 4,377 598,500 X 501,200 97,300
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AMERIPATH INC. COMMON 03071D109 6,857 761,900 X 648,600 113,300
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AMES DEPARTMENT STORE COMMON 30789507 8,279 223,000 X 185,000 38,000
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ANGELICA CORP COMMON 34663104 238 17,000 X 17,000 0
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ANIXTER INTERNATIONAL COMMON 35290105 4,453 373,000 X 356,600 16,400
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APPLIED POWER INC. COMMON 38225108 853 31,300 X 29,100 2,200
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ARM FINANCIAL GROUP COMMON 1944107 8,631 577,800 X 505,000 72,800
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ARROW ELECTRONICS, IN COMMON 42735100 201 13,400 X 13,400 0
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ARROW INTERNATIONAL I COMMON 42764100 3,370 156,300 X 149,200 7,100
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ARTESYN TECHNOLOGIES COMMON 43127109 3,278 264,900 X 253,100 11,800
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ATCHISON CASTING CORP COMMON 46613105 160 19,900 X 19,900 0
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BANTA CORP. COMMON 66821109 7,800 410,500 X 339,000 71,500
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BARNETT INC. COMMON 68062108 1,695 193,700 X 166,000 27,700
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BIRMINGHAM STEEL CORP COMMON 91250100 259 65,800 X 65,800 0
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BLACK BOX CORP. COMMON 91826107 17,813 574,600 X 496,100 78,500
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BORG WARNER SEC CORP. COMMON 99733107 7,871 469,900 X 389,900 80,000
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BRUSH WELLMAN INC. COMMON 117421107 148 10,200 X 10,200 0
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BWAY CORP. COMMON 56039100 8,181 620,350 X 525,600 94,750
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CACI INTERNATIONAL IN COMMON 127190304 4,539 268,000 X 255,700 12,300
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CADMUS COMMUNICATIONS COMMON 127587103 3,706 257,800 X 213,100 44,700
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CAL DIVE INTERNATIONA COMMON 127914109 6,983 334,500 X 276,200 58,300
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CB RICHARD ELLIS SERV COMMON 12489L108 6,313 382,600 X 323,000 59,600
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CEC ENTERTAINMENT INC COMMON 125137109 19,021 530,200 X 451,400 78,800
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CHARTWELL RE CORPORAT COMMON 16139W109 4,935 286,100 X 236,400 49,700
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CHESAPEAKE CORP. COMMON 165159104 8,672 319,700 X 269,900 49,800
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CHICAGO BRIDGE AND IR COMMON N19808109 12,731 1,072,100 X 910,500 161,600
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CITATION CORP. COMMON 172895104 13,971 1,363,000 X 1,148,200 214,800
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CLINTRIALS RESEARCH I COMMON 188767107 283 48,100 X 48,100 0
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CMAC INVESTMENT CORP. COMMON 125662106 3,299 84,600 X 79,000 5,600
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CNA SURETY CORP. COMMON 12612L108 11,387 920,200 X 796,500 123,700
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COLE KENNETH PRODTION COMMON 193294105 5,945 225,400 X 215,200 10,200
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COLONIAL BANCGROUP IN COMMON 195493309 8,906 742,200 X 626,800 115,400
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CORAM HEALTHCARE CORP COMMON 218103109 170 87,700 X 87,700 0
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COVENANT TRANS INC CL COMMON 22284P105 2,608 175,300 X 161,800 13,500
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CREDIT ACCEPEPTANCE C COMMON 225310101 221 38,900 X 38,900 0
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CTS CORP. COMMON 126501105 3,243 65,600 X 61,200 4,400
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DAISYTEK INTERNATIONA COMMON 234053106 9,923 596,900 X 495,100 101,800
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<PAGE>
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DALLAS SEMICONDUCTOR COMMON 235204104 11,205 290,100 X 245,000 45,100
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DAVE & BUSTERS INC. COMMON 23833N104 861 42,000 X 39,200 2,800
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DAYTON SUPERIOR CORP. COMMON 240028100 8,835 508,500 X 427,800 80,700
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DEL MONTE FOODS CO CO COMMON 24522P103 4,703 356,600 X 337,400 19,200
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DELCO REMY INTL CL A COMMON 246626105 7,424 813,600 X 690,100 123,500
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DELPHI FINANCIAL GROUP COMMON 247131105 9,342 275,765 X 232,245 43,520
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DENTSPLY INTERNATIONA COMMON 249030107 4,327 186,100 X 178,100 8,000
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DEPARTMENT 56 INC. COMMON 249509100 1,936 63,600 X 58,800 4,800
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DII GROUP INC. COMMON 232949107 4,914 168,000 X 159,900 8,100
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DIMON INC. COMMON 254394109 246 64,600 X 64,600 0
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DISCOUNT AUTO PARTS I COMMON 254642101 13,911 647,000 X 544,000 103,000
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DRYPERS CORP COM NEW COMMON 262497308 185 85,700 X 85,700 0
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DT INDUSTRIES, INC. COMMON 23333J108 4,499 637,000 X 534,500 102,500
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DURA AUTOMOTIVE SYSTE COMMON 265903104 3,907 138,300 X 130,400 7,900
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EG & G INC. COMMON 268457108 11,402 432,300 X 357,000 75,300
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ENHANCE FINANCIAL SER COMMON 293310108 4,577 201,200 X 191,800 9,400
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FIBERMARK INC. COMMON 315646109 4,010 339,500 X 281,300 58,200
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FINANCIAL SECURITY COMMON 31769P100 12,778 257,500 X 212,800 44,700
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FINLAY ENTERPRISES COMMON 317884203 4,496 415,800 X 343,300 72,500
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FREMONT GENERAL CORP. COMMON 357288109 15,088 791,500 X 681,500 110,000
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FULLER H B CO. COMMON 359694106 12,359 209,700 X 174,600 35,100
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FURON COMPANY COMMON 361106107 9,225 730,700 X 612,800 117,900
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GABELLI ASSET MANAGEM COMMON 36239Y102 4,096 263,200 X 248,000 15,200
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GENERAL CABLE CORP. COMMON 369300108 6,364 602,500 X 499,900 102,600
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GILDAN ACTIVEWEAR INC COMMON 375916103 4,128 337,000 X 323,100 13,900
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GLOBAL INDL TECHNOLOG COMMON 379335102 224 21,300 X 21,300 0
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HAGLER BAILLY INC. COMMON 405183104 1,034 129,300 X 120,900 8,400
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HCC INSURANCE HLDGS I COMMON 404132102 4,360 226,500 X 214,800 11,700
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HEALTHCARE FINANCIAL COMMON 42219W108 9,912 379,400 X 330,400 49,000
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HELLER FINANCIAL COMMON 423328103 17,717 753,900 X 649,200 104,700
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HIGHLANDS INSURANCE G COMMON 431032101 231 21,900 X 21,900 0
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HORACE MANN EDUCATORS COMMON 440327104 12,331 531,800 X 447,900 83,900
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HYPERCOM CORP. COMMON 44913M105 2,051 321,800 X 300,700 21,100
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IDEX CORP. COMMON 45167R104 8,843 375,300 X 310,000 65,300
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IHOP CORP. COMMON 449623107 11,916 303,600 X 254,700 48,900
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IMATION CORP. COMMON 45245A107 13,528 819,900 X 692,700 127,200
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INSURANCE AUTO AUCTIO COMMON 457875102 290 23,900 X 23,900 0
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INTERFACE, INC. COMMON 458665106 8,765 910,600 X 756,000 154,600
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INTERMET CORP. COMMON 45881K104 12,796 956,700 X 807,700 149,000
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INTERNATIONAL HOME FO COMMON 459655106 3,246 202,100 X 188,900 13,200
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INTERNATIONAL MULTIFO COMMON 460043102 12,917 554,100 X 468,900 85,200
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INTERPOOL, INC. COMMON 46062R108 19,927 1,476,050 X 1,246,950 229,100
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INTERTAN INC. COMMON 461120107 344 35,300 X 35,300 0
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IVEX PACKAGING COMMON 465855104 4,561 300,300 X 282,900 17,400
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JOANN STORES CL A COMMON 47758P109 5,756 418,600 X 352,900 65,700
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KAYDON CORP. COMMON 486587108 5,452 188,400 X 156,000 32,400
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KELLWOOD COMMON 488044108 13,729 622,300 X 535,800 86,500
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KITTY HAWK, INC. COMMON 498326107 129 16,200 X 16,200 0
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LADD FURNITURE INC CO COMMON 505739201 235 13,700 X 13,700 0
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<PAGE>
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LANDSTAR SYSTEM, INC. COMMON 515098101 15,989 482,700 X 405,500 77,200
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LESCO INC. COMMON 526872106 271 18,200 X 18,200 0
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LSI INDUSTRIES INC. COMMON 50216C108 7,464 442,300 X 365,300 77,000
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LYDALL INC. COMMON 550819106 5,449 655,500 X 542,600 112,900
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MAGNETEK, INC. COMMON 559424106 7,582 905,300 X 773,100 132,200
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MARINEMAX INC. COMMON 567908108 5,800 527,300 X 435,900 91,400
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MARKWEST HYDROCARBON COMMON 570762104 3,800 506,600 X 424,600 82,000
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MAXWELL SHOE INC CL A COMMON 577766108 4,432 513,900 X 430,300 83,600
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MESA AIR GROUP INC CO COMMON 590479101 123 19,700 X 19,700 0
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MICHAELS STORES INC. COMMON 594087108 11,341 459,400 X 381,100 78,300
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MIDAS GROUP INC. COMMON 595626102 6,001 179,800 X 170,800 9,000
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MILLER EXPLORATION CO COMMON 600533103 2,449 799,700 X 670,200 129,500
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MONACO COACH CORP. COMMON 60886R103 7,356 318,950 X 269,600 49,350
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NATIONAL DATA CORP. COMMON 635621105 10,983 261,500 X 230,500 31,000
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NATIONAL EQUIPMENT SE COMMON 635847106 5,163 558,200 X 460,700 97,500
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NAVIGATORS GROUP INC COMMON 638904102 256 18,300 X 18,300 0
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NEW ENGLAND BUSINESS COMMON 643872104 18,019 628,100 X 528,400 99,700
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NEWFIELD EXPLORATION COMMON 651290108 5,792 256,000 X 244,400 11,600
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NORTEK INC. COMMON 656559101 7,123 287,800 X 241,200 46,600
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NPC INTL INC. COMMON 629360306 5,520 353,300 X 293,300 60,000
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O CHARLEYS INC. COMMON 670823103 10,620 783,050 X 664,200 118,850
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OFFSHORE LOGISTICS COMMON 676255102 362 31,100 X 31,100 0
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PC CONNECTION INC. COMMON 69318J100 3,527 203,000 X 170,100 32,900
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PENTAIR INC. COMMON 709631105 4,539 134,500 X 128,800 5,700
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PEOPLES HERITAGE FINA COMMON 711147108 2,887 160,400 X 148,000 12,400
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PIER 1 IMPORTS, INC. COMMON 720279108 12,351 1,520,100 X 1,319,800 200,300
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POMEROY COMPUTER RES COMMON 731822102 4,187 322,100 X 270,100 52,000
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PRENTISS PROPERTIES T COMMON 740706106 2,371 127,300 X 116,700 10,600
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PSC INC. COMMON 6.94E+111 5,983 714,400 X 608,600 105,800
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QUEST DIAGNOSTICS INC COMMON 74834L100 343 15,400 X 15,400 0
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RAYMOND JAMES FINANCI COMMON 754730109 13,863 701,900 X 610,400 91,500
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REMEDYTEMP INC. CL A COMMON 759549108 4,002 318,600 X 302,700 15,900
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RIGHT MGMT CONSULTANT COMMON 766573109 300 19,000 X 19,000 0
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SAFETY KLEEN CORP. COMMON 78648R203 5,459 411,975 X 393,300 18,675
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SCPIE HOLDINGS INC. COMMON 78402P104 9,445 347,400 X 289,800 57,600
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SENSORMATIC ELECTRS C COMMON 817265101 305 32,100 X 32,100 0
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SMARTFLEX SYS INC COM COMMON 83169K108 183 49,500 X 49,500 0
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SPACEHAB INC COM COMMON 846243103 205 31,600 X 31,600 0
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STANDARD REGISTER CO. COMMON 853887107 14,853 500,300 X 420,400 79,900
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STEIN MART, INC. COMMON 858375108 10,742 1,074,200 X 891,200 183,000
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SUNSOURCE INC. COMMON 867948101 5,101 361,100 X 307,900 53,200
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TRACTOR SUPPLY CO. COMMON 892356106 10,900 426,400 X 353,900 72,500
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TRAILER BRIDGE COMMON 892782103 1,823 720,100 X 623,900 96,200
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TRAMMELL CROW CO. COMMON 89288R106 4,625 250,000 X 207,900 42,100
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TRISTAR AEROSPACE CO. COMMON 89674L101 5,676 622,000 X 595,500 26,500
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U S XPRESS ENTERPRISE COMMON 90338N103 8,636 742,900 X 626,800 116,100
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UNISOURCE WORLDWIDE I COMMON 909208100 158 22,200 X 22,200 0
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UNITED STATIONERS INC COMMON 913004107 2,832 185,700 X 176,100 9,600
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WABASH NATIONAL CORP. COMMON 929566107 251 21,600 X 21,600 0
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<PAGE>
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WANG LABS INC. COMMON 93369N109 11,125 566,900 X 488,000 78,900
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WARNACO GROUP INC. CL COMMON 934390105 10,463 423,800 X 351,600 72,200
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WELLMAN INC. COMMON 949702104 166 18,700 X 18,700 0
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WESLEY JESSEN VISIONC COMMON 951018100 6,621 240,200 X 228,500 11,700
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WILLBROS GROUP INC. COMMON 969199108 3,338 643,500 X 549,600 93,800
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WORLD COLOR PRESS COMMON 981443104 15,972 751,600 X 649,500 102,100
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ZALE CORP. NEW COMMON 988858106 16,068 470,000 X 408,500 61,500
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</TABLE>
