UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F-HR
Form 13F COVER PAGE
Report for the Calendar Year of Quarter Ended: June 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: Cambridge Investments, Ltd.
Address: 600 Montgomery Street
San Francisco, California 94111
Form 13F File Number: 28-06432
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: Courtney Tozzi
Title: Vice President
Phone: (415) 781-0866
Signature, Place, and Date of Signing:
/s/ Courtney Tozzi San Francisco, California 8/13/99
[Signature] [City, State] [Date]
Report Type (Check only one.):
[X ] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting
manager are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in this report,
and all holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for
this reporting manager are reported in this report and a portion are
reported by other reporting manager(s).)
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Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 27
Form 13F Information Table Value Total: $ 436,448
(thousands)
List of Other Included Managers:
None
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Item 1: Item 2: Item 3: Item 4: Item 5: Item 6: Item 7: Item 8:
Name of Issuer Title of CUSIP Value Shares or SH/ PUT/ Investment Other Voting
Class (x$1000) Prn Amt PRN CALL Discretion Managers Autho-
rity
SOLE
Apache Corp. COM 037411105 18,291 469,000 SH SOLE 469,000
Atlantic Richfield Co. COM 048825103 13,779 164,900 SH SOLE 164,900
AT & T Corp. COM 001957109 419 7,500 SH SOLE 7,500
Baker Hughes Co. COM 057224107 68,271 2,037,936 SH SOLE 2,037,936
BJ Services Co. COM 055482103 31,390 1,066,316 SH SOLE 1,066,316
Burlington Res. Inc. COM 122014103 9,688 224,000 SH SOLE 224,000
Basin Expl Inc. COM 070107107 1,655 82,500 SH SOLE 82,500
Cooper Cameron Corp. COM 216640102 11,575 312,309 SH SOLE 312,309
Emcor Group Inc. COM 29084Q100 1,390 55,200 SH SOLE 55,200
Ensco Intl Inc. COM 26874Q100 41,677 2,090,403 SH SOLE 2,090,403
R&B Falcon Corp. COM 74912E101 6,741 719,000 SH SOLE 719,000
Corning Inc. COM 219350105 281 4,000 SH SOLE 4,000
Halliburton Co. COM 406216101 51,674 1,141,956 SH SOLE 1,141,956
Hartland Pipeline COM 416900108 3,189 877,442 SH SOLE 877,442
Intl Business Machs COM 459200101 259 2,000 SH SOLE 2,000
Philip Morris Cos. Inc. COM 718154107 350 8,700 SH SOLE 8,700
Mobil Corp. COM 607059102 10,000 101,259 SH SOLE 101,259
USX - Marathon Group COM 902905827 22,807 700,400 SH SOLE 700,400
Nabors Industries Inc. COM 629568106 26,587 1,090,739 SH SOLE 1,090,739
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Nabors Industries Inc. SUB NT
CONV 5'606 629568AA4 3,698 2,479,972 PRN SOLE 2,479,972
Noble Drilling Corp. COM 655042109 16,080 816,788 SH SOLE 816,788
Newpark Resources Inc. COM 651718504 178 20,000 SH SOLE 20,000
Rowan Companies Inc. COM 779382100 17,736 971,830 SH SOLE 971,830
Smith Intl Inc. COM 832110100 6,613 152,235 SH SOLE 152,235
Schlumberger Ltd. COM 806857108 52,871 830,162 SH SOLE 830,162
Texaco Inc. COM 881694103 17,945 287,700 SH SOLE 287,700
Weatherford Intl COM 947074100 1,304 35,600 SH SOLE 35,600
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