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United States Securities and Exchange Commission
Washington, DC 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: September 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: Cypress Asset Management
Address: 2929 Allen Parkway, Suite 2200
Houston, TX 77019
13F File Number: 28-5956
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: Will Garwood
Title: President
Phone: 713-512-2100
Signature, Place, and Date of Signing:
/s/ Will Garwood
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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: 104
Form 13F Information Value Total (thousands): 323,385
Confidential Information has been omitted from the public Form 13F and filed
separately with the Commission.
List of Other Included Managers None
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FORM 13F
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(SEC USE ONLY)
Page 1 of 6 9/30/99 Name of Reporting Manager: Cypress Asset Management, Inc.
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ITEM 5: ITEM 6: ITEM 8:
Item 1: Item 2: Item 3: Item 4: Shares of Investment Discretion Item 7: Voting Authority (Shares)
----------------------------- -------------------------
Name of Issuer Title of CUSIP Fair Market Principal (b)Shared - Managers
Class Number Value Amount (a)Sole as Defined (c)Shared- See Instr.V (a)Sole (b)Shared (c)None
in Instr.V Other
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<S> <C> <C> <C> <C> <C> <C> <C>
3 COM Common 885535104 $411,125 14,300 X 12,100 2,200
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ABBOTT LABS Common 002824100 $5,821,059 158,666 X 128,982 29,684
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ALBERTSONS Common 013104104 $2,623,894 66,323 X 53,978 12,345
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ALLSTATE Common 020002101 $1,110,716 44,540 X 37,840 6,700
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ALTERA Common 021441100 $1,429,206 32,950 X 22,150 10,800
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ALZA CL A Common 022615108 $647,411 15,122 X 13,217 1,905
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AMER EXPRESS Common 025816109 $364,500 2,700 X 1,000 1,700
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AMER GENERAL Common 026351106 $4,071,276 64,368 X 52,783 11,585
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AMER HOME PROD Common 026609107 $4,789,515 115,410 X 96,915 18,495
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AMER INTL GROUP Common 026874107 $7,261,976 83,531 X 70,097 13,434
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AMER PWR CONVERSION Common 029066107 $280,440 14,760 X 14,760 0
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AMERICA ONLINE Common 02364J104 $200,841 1,930 X 1,930 0
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AMERITECH Common 030954101 $1,204,504 18,045 X 14,825 3,220
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AMGEN Common 031162100 $1,449,070 17,780 X 16,255 1,525
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ANALOG DEVICES Common 032654105 $7,404,856 144,485 X 122,960 21,525
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BANK OF AMERICA Common 06605F102 $3,379,786 60,692 X 45,307 15,385
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BANK OF NEW YORK Common 064057102 $3,331,211 99,625 X 83,535 16,090
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BANK ONE Common 06423A103 $1,986,053 57,050 X 49,585 7,465
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BELL ATLANTIC Common 077853109 $209,477 3,112 X 1,752 1,360
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COLUMN TOTALS $47,976,915
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FORM 13F
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(SEC USE ONLY)
Page 2 of 6 9/30/99 Name of Reporting Manager: Cypress Asset Management, Inc.
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ITEM 5: ITEM 6: ITEM 8:
Item 1: Item 2: Item 3: Item 4: Shares of Investment Discretion Item 7: Voting Authority (Shares)
----------------------------- -------------------------
Name of Issuer Title of CUSIP Fair Market Principal (b)Shared - Managers
Class Number Value Amount (a)Sole as Defined (c)Shared- See Instr.V (a)Sole (b)Shared (c)None
in Instr.V Other
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<S> <C> <C> <C> <C> <C> <C> <C>
BELLSOUTH Common 079860102 $286,245 6,361 X 6,361 0
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BERKSHIRE HATHAWAY CL B Common 084670207 $2,455,488 1,323 X 1,100 223
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BP AMOCO Common 055622104 $2,702,384 24,387 X 19,435 4,952
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BRISTOL-MYERS Common 110122108 $8,893,125 131,750 X 110,280 21,470
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BURLINGTON RESRS Common 122014103 $926,100 25,200 X 21,000 4,200
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CHASE MANHATTAN Common 16161A108 $398,055 5,281 X 3,325 1,956
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CHEVRON Common 166751107 $688,852 7,762 X 7,762 0
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CHRIS-CRAFT Common 170520100 $1,597,710 28,467 X 21,934 6,533
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CISCO SYSTEMS Common 17275R102 $6,912,506 100,821 X 85,071 15,750
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CITIGROUP Common 172967101 $12,216,820 277,655 X 226,900 50,755
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COCA-COLA Common 191216100 $6,278,724 130,129 X 104,219 25,910
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COSTCO WHOLESALE Common 22160K105 $399,600 5,550 X 5,300 250
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DATA GENERAL Common 237688106 $514,978 24,450 X 22,250 2,200
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DAYTON HUDSON Common 239753106 $3,368,305 56,080 X 48,030 8,050
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DIAGEO PLC ADR Common 25243Q205 $2,312,254 55,801 X 43,287 12,514
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DISNEY, WALT Common 254687106 $5,151,900 198,150 X 165,825 32,325
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DOLLAR GENERAL Common 256669102 $231,563 7,500 X 7,500 0
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EDS Common 285661104 $3,519,020 66,475 X 56,840 9,635
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COLUMN TOTALS $58,853,629
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FORM 13F
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(SEC USE ONLY)
Page 3 of 6 9/30/99 Name of Reporting Manager: Cypress Asset Management, Inc.
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ITEM 5: ITEM 6: ITEM 8:
Item 1: Item 2: Item 3: Item 4: Shares of Investment Discretion Item 7: Voting Authority (Shares)
----------------------------- -------------------------
Name of Issuer Title of CUSIP Fair Market Principal (b)Shared - Managers
Class Number Value Amount (a)Sole as Defined (c)Shared- See Instr.V (a)Sole (b)Shared (c)None
in Instr.V Other
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<S> <C> <C> <C> <C> <C> <C> <C>
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EMERSON ELECTRIC Common 291011104 $3,092,396 48,940 X 40,090 8,850
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ERICSSON Common 294821400 $259,375 8,300 X 750 7,550
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EXCEL SWITCHING Common 30067V108 $3,472,700 96,800 X 85,075 11,725
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EXXON Common 302290101 $1,856,908 24,433 X 22,358 2,075
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FANNIE MAE Common 313586109 $5,197,107 82,905 X 64,675 18,230
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FEDERAL EXPRESS Common 31304N107 $2,738,549 70,445 X 60,295 10,150
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FIRST UNION Common 337358105 $520,838 14,620 X 11,645 2,975
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FORD Common 345370100 $401,799 7,996 X 4,115 3,881
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FREDDIE MAC Common 313400301 $212,940 4,095 X 4,095 0
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GENERAL ELECTRIC Common 369604103 $12,143,613 102,424 X 86,002 16,422
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GENERAL MILLS Common 370334104 $3,853,681 47,503 X 38,778 8,725
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GILLETTE Common 375766102 $3,255,624 95,930 X 80,950 14,980
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GLOBAL CROSSING LTD Common G3921A100 $863,675 32,592 X 31,772 820
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GTE Common 362320103 $1,750,444 22,770 X 18,170 4,600
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GUIDANT Common 401698105 $1,529,921 28,530 X 24,630 3,900
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HARTFORD LIFE A Common 416592103 $2,466,194 50,075 X 43,015 7,060
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HERSHEY FOODS Common 427866108 $286,039 5,875 X 3,875 2,000
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HEWLETT PACKARD Common 428236103 $7,088,936 78,115 X 63,490 14,625
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HUBBELL CL B Common 443510201 $525,428 16,484 X 8,334 8,150
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COLUMN TOTALS $51,516,167
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FORM 13F
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(SEC USE ONLY)
Page 4 of 6 9/30/99 Name of Reporting Manager: Cypress Asset Management, Inc.
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ITEM 5: ITEM 6: ITEM 8:
Item 1: Item 2: Item 3: Item 4: Shares of Investment Discretion Item 7: Voting Authority (Shares)
----------------------------- -------------------------
Name of Issuer Title of CUSIP Fair Market Principal (b)Shared - Managers
Class Number Value Amount (a)Sole as Defined (c)Shared- See Instr.V (a)Sole (b)Shared (c)None
in Instr.V Other
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<S> <C> <C> <C> <C> <C> <C> <C>
IBM Common 459200101 $10,728,707 88,667 X 73,967 14,700
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INTEL Common 458140100 $6,525,009 87,805 X 71,781 16,024
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JOHNSON & JOHN Common 478160104 $8,687,424 94,557 X 76,022 18,535
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KROGER Common 501044101 $220,625 10,000 X 10,000 0
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LILLY, ELI Common 532457108 $757,092 11,795 X 9,250 2,545
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LINEAR TECH Common 535678106 $340,344 5,790 X 5,240 550
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LSI LOGIC Common 502161102 $208,000 4,000 X 4,000 0
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LUCENT TECH Common 549463107 $1,086,916 16,754 X 5,908 10,846
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MBNA Common 55262L100 $311,664 13,662 X 12,905 757
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MELLON FINANCIAL Common 58551A108 $1,890,566 56,225 X 47,025 9,200
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MERCK Common 589331107 $7,459,465 115,093 X 93,402 21,691
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MERRILL LYNCH Common 590188108 $2,340,608 34,740 X 28,090 6,650
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MICROSOFT Common 594918104 $7,305,677 80,670 X 59,320 21,350
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MINN MINING&MFG Common 604059105 $1,135,363 11,819 X 9,269 2,550
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MOBIL Common 607059102 $833,706 8,275 X 6,200 2,075
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MOLEX Common 608554101 $746,961 20,535 X 18,385 2,150
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MOLEX CL A Common 608554200 $5,804,546 179,291 X 151,896 27,395
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MORGAN STANLEY DEAN
WITTER Common 617446448 $6,351,488 71,215 X 61,029 10,186
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MOTOROLA Common 620076109 $4,460,280 50,685 X 37,740 12,945
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COLUMN TOTALS $67,194,439
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FORM 13F
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(SEC USE ONLY)
Page 5 of 6 9/30/99 Name of Reporting Manager: Cypress Asset Management, Inc.
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ITEM 5: ITEM 6: ITEM 8:
Item 1: Item 2: Item 3: Item 4: Shares of Investment Discretion Item 7: Voting Authority (Shares)
----------------------------- -------------------------
Name of Issuer Title of CUSIP Fair Market Principal (b)Shared - Managers
Class Number Value Amount (a)Sole as Defined (c)Shared- See Instr.V (a)Sole (b)Shared (c)None
in Instr.V Other
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<S> <C> <C> <C> <C> <C> <C> <C>
NATIONAL CITY Common 635405103 $285,556 10,700 X 10,700 0
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NATL SEMICONDUCTOR Common 637640103 $327,019 10,700 X 10,700 0
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NESTLE SA ADR Common 641069406 $201,563 2,150 X 1,550 600
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NEWBRIDGE NETWORKS Common 650901101 $242,381 9,300 X 7,900 1,400
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NOKIA ADR Common 654902204 $4,197,612 46,705 X 39,200 7,505
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PEPSICO Common 713448108 $5,015,268 164,435 X 130,610 33,825
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PFIZER Common 717081103 $5,687,264 158,530 X 132,070 26,460
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PROCTER GAMBLE Common 742718109 $6,906,750 73,672 X 58,358 15,314
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RIVIANA FOODS Common 769536103 $288,750 15,000 X 15,000 0
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ROYAL DUTCH Common 780257804 $4,648,809 78,710 X 65,460 13,250
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SABRE HOLDINGS CORP.
CL A Common 785905100 $928,800 21,600 X 15,700 5,900
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SCHERING PLOUGH Common 806605101 $2,994,420 68,640 X 56,260 12,380
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SONY Common 835699307 $4,649,687 30,985 X 26,080 4,905
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ST JUDE MEDICAL Common 790849103 $220,500 7,000 X 7,000 0
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T ROWE PRICE ASSOC Common 741477103 $294,953 10,750 X 7,600 3,150
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TEXAS INSTRMTS Common 882508104 $14,676,526 178,438 X 149,408 29,030
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THOMAS & BETTS Common 884315102 $265,200 5,200 X 5,200 0
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TIME WARNER Common 887315109 $7,994,700 131,600 X 111,655 19,945
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UNILEVER NV Common 904784709 $557,263 8,180 X 6,920 1,260
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COLUMN TOTALS $60,383,019
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FORM 13F
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(SEC USE ONLY)
Page 6 of 6 9/30/99 Name of Reporting Manager: Cypress Asset Management, Inc.
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ITEM 5: ITEM 6: ITEM 8:
Item 1: Item 2: Item 3: Item 4: Shares of Investment Discretion Item 7: Voting Authority (Shares)
----------------------------- -------------------------
Name of Issuer Title of CUSIP Fair Market Principal (b)Shared - Managers
Class Number Value Amount (a)Sole as Defined (c)Shared- See Instr.V (a)Sole (b)Shared (c)None
in Instr.V Other
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<S> <C> <C> <C> <C> <C> <C> <C>
UNUMPROVIDENT
CORPORATION Common 91529y106 $266,733 9,061 X 7,492 1,569
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US WEST INC. Common 91273H101 $321,319 5,631 X 5,031 600
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VIACOM CL B Common 925524308 $7,396,919 175,075 X 146,530 28,545
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VODAFONE AIRTOUCH PLC Common 92857t107 $310,502 1,306 X 506 800
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WAL-MART Common 931142103 $9,131,524 191,990 X 158,405 33,585
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WALGREEN Common 931422109 $253,750 10,000 X 7,600 2,400
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WARNER LAMBERT Common 934488107 $4,925,888 74,213 X 61,373 12,840
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WM WRIGLEY Common 982526105 $364,362 5,295 X 4,095 1,200
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XILINX Common 983919101 $13,912,295 212,300 X 180,350 31,950
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XL CAPITAL Common G98255105 $577,575 12,835 X 11,174 1,661
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COLUMN TOTALS $37,460,867
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