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: March 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: Cambridge Investments, Ltd.
Address: 600 Montgomery Street
San Francisco, California 94111
Form 13F File Number: 28-6432
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 5/14/99
[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: 1
Form 13F Information Table Entry Total: 13
Form 13F Information Table Value Total: $ 171,521
(thousands)
List of Other Included Managers:
No. Form 13F File Number Name
1 28-6420 Soros Fund Management, LLC
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Item 1: Item 2: Item 3: Item 4: Item 5: Item 6: Item 7:
Name of Issuer Title of CUSIP Value Shares or Investment Other Item 8:
Class (x$1000) Prn Amt Discretion Managers Voting Authority
(a) Sole (b) (c) None
Shared
Baker Hughes Inc. COM 57224107 17,134 704,759 SOLE 704,759
BJ Services Co. COM 55482103 15,021 640,916 SOLE 640,916
CHC Helicopter Corp. CLA 12541C203 392 171,662 SOLE 171,662
Sub Vtg
Cooper Cameron Corp. COM 216640102 6,862 204,832 SOLE 204,832
Ensco International COM 26874Q100 15,219 1,143,180 SOLE 1,143,180
Halliburton Inc. COM 406216101 26,606 691,056 SOLE 691,056
Mobil Corp. COM 607059102 42,104 478,459 SOLE 478,459
Nabors Inds. Inc. COM 629568106 9,692 532,889 SOLE 532,889
Nabors Industries Inc. sub nt 629568AA4 3,534 2,479,972 SOLE 2,479,972
5/06 conv
5%06
Noble Drilling Corp. COM 655042109 7,909 455,178 SOLE 455,178
Rowan Companies Inc. COM 779382100 6,640 523,330 SOLE 523,330
Schlumberger Ltd. COM 806857108 18,060 300,062 SOLE 300,062
Smith International Inc. COM 832110100 2,740 68,512 SOLE 68,512
TOTAL 171,913
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