UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F-HR
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended March 31, 2000
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Check here if Amendment |_|: |_| Amendment Number: ______
This Amendment (Check only one): |_| is a restatement
|_| adds new holding entries.
Institutional Investment Manager Filing this Report:
Name: Cambridge Investments, Ltd.
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Address: 600 Montgomery Street
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San Francisco, California 94111
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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, 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 May 5, 2000
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[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 tihs 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 are reported by
other reporting manager(s).)
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Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
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Form 13F Information Table Entry Total: 13
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Form 13F Information Table Value Total: $545,638,317
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(thousands)
List of Other Included Managers:
None
<PAGE>
Form 13F INFORMATION TABLE
<TABLE>
<CAPTION>
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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
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VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHA NONE
CLASS RED
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
BJ SVCS CO COMMON 055482103 75,729.854 1,025,108 SH SOLE 1,025,108
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COOPER CAMERON CORP COMMON 216640102 22,788.659 340,765 SH SOLE 340,765
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ENSCO INTL INC COMMON 26874Q100 87,263.550 2,415,600 SH SOLE 2,415,600
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GLOBAL MARINE INC COMMON 379352404 18,840.938 742,500 SH SOLE 742,500
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HALLIBURTON CO COMMON 406216101 34,947.655 849,791 SH SOLE 849,791
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NABORS INDS INC COMMON 629568106 84,660.775 2,181,276 SH SOLE 2,181,276
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NOBLE DRILLING CORP COMMON 655042109 47,258.567 1,142,201 SH SOLE 1,142,201
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R & B FALCON CORP COMMON 74912E101 41,082.300 2,086,720 SH SOLE 2,086,720
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ROWAN COS INC COMMON 779382100 39,035.008 1,326,030 SH SOLE 1,326,030
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SCHLUMBERGER LTD COMMON 806857108 49,335.309 644,906 SH SOLE 644,906
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SMITH INTL INC COMMON 832110100 12,117.435 156,354 SH SOLE 156,354
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USX MARATHON GROUP COMMON 902905827 22,294.931 855,441 SH SOLE 855,441
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SANTA FE INTL CORP COMMON G7805C108 10,283.336 277,928 SH SOLE 277,928
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</TABLE>
