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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: March 31, 2000
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: 123
Form 13F Information Value Total (thousands): 489,951
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 7 06/30/00 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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A T & T Common 001957109 $921,015 29,123 X 21,223 7,900
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ABBOTT LABS Common 002824100 $7,872,769 176,668 X 145,344 31,324
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AETHER SYSTEMS INC Common 00808V105 $1,174,650 5,730 X 4,730 1,000
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AFLAC INC Common 001055102 $229,687 5,000 X 5,000 0
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AGILENT TECH. Common 00846U101 $2,683,891 36,392 X 30,033 6,359
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ALBERTSONS Common 013104104 $267,696 8,051 X 7,862 189
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ALLSTATE Common 020002101 $661,092 29,712 X 23,412 6,300
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ALTERA Common 021441100 $2,627,439 25,775 X 15,425 10,350
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ALZA CL A Common 022615108 $858,318 14,517 X 13,937 580
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AMER EXPRESS Common 025816109 $383,119 7,350 X 2,250 5,100
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AMER GENERAL Common 026351106 $8,075,302 132,382 X 107,048 25,334
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AMER HOME PROD Common 026609107 $8,102,628 137,917 X 113,172 24,745
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AMER INTL GROUP Common 026874107 $11,128,895 94,714 X 80,966 13,748
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AMER PWR CONVERSION Common 029066107 $560,764 13,740 X 14,090 0
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AMERICA ONLINE Common 02364J104 $281,685 5,340 X 5,540 0
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AMGEN Common 031162100 $2,440,134 34,735 X 31,785 2,950
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ANALOG DEVICES Common 032654105 $18,822,160 247,660 X 211,065 36,595
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APPLIED MATERIALS Common 038222105 $7,015,734 77,415 X 65,395 12,020
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ATMEL CORP. Common 049513104 $221,250 6,000 X 7,300 0
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COLUMN TOTALS $75,129,158
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FORM 13F
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(SEC USE ONLY)
Page 2 of 7 06/30/00 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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BANK OF AMERICA Common 06605F102 $3,799,211 88,354 X 71,834 16,520
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BANK OF NEW YORK Common 064057102 $5,440,500 117,000 X 97,385 19,615
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BANK ONE Common 06423A103 $349,297 13,150 X 11,850 1,300
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BENCHMARK ELECTRONICS
INC. Common 08160H101 $262,500 7,000 X 0 7,000
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BERKSHIRE HATHAWAY CL B Common 084670207 $2,437,600 1,385 X 1,126 259
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BMC SOFTWARE Common 055921100 $1,563,721 42,860 X 27,055 15,805
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BP AMOCO Common 055622104 $295,652 5,227 X 3,260 1,967
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BRISTOL-MYERS Common 110122108 $5,442,938 93,441 X 76,545 16,896
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BURLINGTON RESRS Common 122014103 $2,520,866 65,905 X 54,365 11,540
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CABLEVISION SYS Common 12686C109 $271,500 4,000 X 4,000 0
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CHASE MANHATTAN Common 16161A108 $463,332 10,059 X 7,425 2,634
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CHEVRON Common 166751107 $716,532 8,448 X 8,448 0
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CISCO SYSTEMS Common 17275R102 $12,596,117 198,169 X 166,769 31,400
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CITIGROUP Common 172967101 $18,088,255 300,220 X 230,040 70,180
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COCA-COLA Common 191216100 $9,100,326 158,439 X 130,789 27,650
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COMDISCO INC Common 200336105 $412,223 18,475 X 17,075 1,400
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COSTCO WHOLESALE Common 22160K105 $450,450 13,650 X 13,150 500
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CYPRESS SEMI. Common 232806109 $304,200 7,200 X 7,200 0
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DALLAS SEMI. Common 235204104 $385,625 10,000 X 0 10,000
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DIAGEO PLC ADR Common 25243Q205 $359,395 10,106 X 4,106 6,000
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COLUMN TOTALS $65,260,240
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FORM 13F
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(SEC USE ONLY)
Page 3 of 7 06/30/00 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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DISNEY, WALT Common 254687106 $8,246,104 212,460 X 179,897 32,563
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EDS Common 285661104 $2,308,762 55,970 X 45,935 10,035
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EMC Common 268648102 $3,385,712 44,006 X 29,704 14,302
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EMERSON ELECTRIC Common 291011104 $1,388,021 22,990 X 16,990 6,000
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ERICSSON Common 294821400 $875,500 43,775 X 12,700 31,075
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EXODUS COMM. INC. Common 302088109 $227,088 4,930 X 4,930 0
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EXXON MOBIL CORP Common 30231g102 $2,822,467 35,955 X 32,894 3,061
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FANNIE MAE Common 313586109 $3,359,779 64,379 X 50,109 14,270
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FEDEX CORP Common 31428X106 $241,300 6,350 X 6,350 0
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FORD Common 345370100 $268,701 6,249 X 4,349 1,900
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FOREST LABS Common 345838106 $404,000 4,000 X 4,000 0
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FREDDIE MAC Common 313400301 $336,676 8,313 X 7,650 663
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GENERAL ELECTRIC Common 369604103 $17,228,907 325,074 X 269,941 55,133
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GENERAL MILLS Common 370334104 $481,950 12,600 X 7,000 5,600
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GILLETTE Common 375766102 $4,041,761 115,685 X 96,535 19,150
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GLOBAL CROSSING Common G3921A100 $3,296,579 125,286 X 106,953 18,333
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GOLDMAN SACHS Common 38141g104 $535,095 5,640 X 5,050 590
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GTE Common 362320103 $2,632,241 42,285 X 35,315 6,970
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GUIDANT Common 401698105 $3,651,862 73,775 X 61,505 12,270
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HEWLETT PACKARD Common 428236103 $10,392,222 83,221 X 66,868 16,353
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COLUMN TOTALS $66,124,727
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FORM 13F
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(SEC USE ONLY)
Page 4 of 7 06/30/00 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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HOME DEPOT Common 437076102 $218,448 4,374 X 3,599 775
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HONEYWELL INTL. Common 438516106 $397,816 11,809 X 10,700 1,109
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HUBBELL CL B Common 443510201 $316,837 12,425 X 6,775 5,650
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IBM Common 459200101 $11,016,565 100,551 X 83,006 17,545
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INTEL Common 458140100 $12,173,584 91,060 X 77,007 14,053
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JOHNSON & JOHN Common 478160104 $11,262,791 110,555 X 87,689 22,866
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KLA TENCOR Common 482480100 $472,599 8,070 X 7,720 350
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KYOCERA CORP ADR Common 501556203 $601,000 3,498 X 3,278 220
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LILLY, ELI Common 532457108 $1,631,957 16,340 X 12,395 3,945
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LINEAR TECH Common 535678106 $4,660,085 72,885 X 64,735 8,150
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LSI LOGIC Common 502161102 $416,762 7,700 X 7,700 0
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LUCENT TECH Common 549463107 $8,901,372 150,234 X 123,631 26,603
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MBIA Common 55262C100 $267,441 5,550 X 2,550 3,000
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MBNA Common 55262L100 $290,075 10,694 X 10,455 239
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MEDTRONIC Common 585055106 $1,998,684 40,124 X 35,924 4,200
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MELLON FINANCIAL Common 58551A108 $1,992,220 54,675 X 46,675 8,000
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MERCK Common 589331107 $10,325,930 134,759 X 113,153 21,606
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MERRILL LYNCH Common 590188108 $3,761,075 32,705 X 26,230 6,475
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MICROSOFT Common 594918104 $5,301,440 66,268 X 53,488 12,780
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MINN MINING&MFG Common 604059105 $560,175 6,790 X 5,965 825
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COLUMN TOTALS $76,566,856
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FORM 13F
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(SEC USE ONLY)
Page 5 of 7 06/30/00 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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MOLEX Common 608554101 $1,161,906 24,144 X 21,457 2,687
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MOLEX CL A Common 608554200 $8,056,632 230,190 X 195,872 34,318
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MORGAN STANLEY DEAN
WITTER Common 617446448 $11,436,802 137,379 X 119,732 17,647
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MOTOROLA Common 620076109 $6,809,243 234,297 X 179,427 54,870
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NATL SEMI. Common 637640103 $482,091 8,495 X 9,270 0
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NOKIA ADR Common 654902204 $10,897,361 218,220 X 183,970 34,250
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NORTEL Common 656569100 $247,747 3,630 X 2,730 900
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ORACLE Common 68389X105 $435,023 5,175 X 5,175 0
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PEPSICO Common 713448108 $8,363,093 188,199 X 149,365 38,834
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PFIZER Common 717081103 $17,798,620 370,805 X 310,439 60,366
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PHARMACIA CORP Common 611662107 $2,885,713 55,830 X 45,135 10,695
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PROCTER GAMBLE Common 742718109 $5,328,773 93,079 X 74,680 18,399
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RIVIANA FOODS Common 769536103 $270,281 15,500 X 15,500 0
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ROYAL DUTCH Common 780257804 $5,706,844 92,700 X 77,450 15,250
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SABRE HLDGS CORP Common 785905100 $299,250 10,500 X 6,500 4,000
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SBC COMM Common 78387G103 $2,521,302 58,296 X 49,571 8,725
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SCHERING PLOUGH Common 806605101 $6,227,155 123,310 X 101,270 22,040
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SKY FINANCIAL GROUP Common 83080P103 $443,750 25,000 X 0 25,000
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SMITH KLINE BEECHAM Common 832378301 $416,874 6,395 X 6,220 175
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SOLECTRON Common 834182107 $763,800 18,240 X 13,340 4,900
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COLUMN TOTALS $90,552,260
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FORM 13F
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(SEC USE ONLY)
Page 6 of 7 06/30/00 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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SONERA CORP. Common 835433202 $972,210 21,135 X 20,040 1,095
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SONY Common 835699307 $5,367,324 56,910 X 48,400 8,510
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SPRINT Common 852061100 $4,248,045 83,295 X 71,505 11,790
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ST JUDE MEDICAL Common 790849103 $321,125 7,000 X 7,000 0
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SUN MICROSYSTEMS Common 866810104 $244,440 2,688 X 2,350 338
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SUNGARD DATA SYSTEMS Common 867363103 $543,275 17,525 X 16,875 650
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SYNOPSYS INC Common 871607107 $658,934 19,065 X 17,465 1,600
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TARGET CORP. Common 239753106 $4,393,557 75,751 X 64,276 11,475
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TELLABS Common 879664100 $231,656 3,500 X 0 3,500
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TERAYON Common 880775101 $343,652 5,350 X 4,900 450
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TEXACO Common 881694103 $1,029,376 19,331 X 15,992 3,339
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TEXAS INSTRMTS Common 882508104 $23,877,492 347,625 X 288,110 59,515
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TIME WARNER Common 887315109 $11,208,860 147,485 X 126,055 21,430
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UNILEVER NV Common 904784709 $1,918,273 44,611 X 39,576 5,035
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UNUMPROVIDENT CORP Common 91529y106 $296,925 14,800 X 12,200 2,600
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VIACOM CL B Common 925524308 $13,398,068 196,489 X 166,316 30,173
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VODAFONE GROUP Common 92857t107 $4,960,276 119,705 X 99,830 19,875
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WAL-MART Common 931142103 $11,079,508 192,269 X 159,534 32,735
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WALGREEN Common 931422109 $354,160 11,003 X 8,603 2,400
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WELLS FARGO Common 949746101 $554,125 14,300 X 11,275 1,400
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COLUMN TOTALS $86,001,281
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FORM 13F
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(SEC USE ONLY)
Page 7 of 7 06/30/00 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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WM WRIGLEY Common 982526105 $314,736 3,925 X 3,425 500
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WORLDCOM INC. Common 55268B106 $314,657 6,859 X 4,470 2,389
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XILINX Common 983919101 $29,687,411 359,575 X 302,135 57,440
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COLUMN TOTALS $30,316,804
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</TABLE>