<PAGE>
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, 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
---------------------------------------
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).)
-1-
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FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 121
Form 13F Information Value Total (thousands): 503,699
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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<TABLE>
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FORM 13F
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(SEC USE ONLY)
Page 1 of 7 09/30/00 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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A T & T COMMON 001957109 $1,389,119 47,289 X 35,139 12,150
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ABBOTT LABS COMMON 002824100 $8,495,520 178,618 X 143,194 35,424
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AETHER SYSTEMS INC COMMON 00808V105 $604,515 5,730 X 4,730 1,000
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AFLAC INC COMMON 001055102 $320,312 5,000 X 5,000 0
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AGILENT TECH. COMMON 00846U101 $759,950 15,529 X 11,389 4,140
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ALLSTATE COMMON 020002101 $1,178,720 2,997 X 27,620 6,300
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ALTERA COMMON 021441100 $2,468,675 33,920 X 31,000 20,700
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ALZA CL A COMMON 022615108 $1,242,745 51,700 X 13,787 580
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AMER EXPRESS COMMON 025816109 $495,112 14,367 X 3,050 5,100
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AMER GENERAL COMMON 026351106 $11,162,034 8,150 X 106,798 36,305
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AMER HOME PROD COMMON 026609107 $8,289,634 143,103 X 117,737 28,820
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AMER INTL GROUP COMMON 026874107 $13,621,403 146,557 X 119,071 23,282
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AMER PWR CONVERSION COMMON 029066107 $285,702 142,353 X 12,940 1,950
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AMERICA ONLINE COMMON 02364J104 $324,650 14,890 X 5,440 600
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AMGEN COMMON 031162100 $2,430,716 6,040 X 31,935 2,875
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ANALOG DEVICES COMMON 032654105 $20,434,219 34,810 X 207,005 40,495
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APPLIED MATERIALS COMMON 038222105 $5,748,271 247,500 X 79,665 17,250
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ASSOCIATES FIRST CAP COMMON 046008108 $257,108 96,915 X 1,716 5,050
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ATMEL CORP. COMMON 049513104 $253,024 6,766 X 14,060 2,600
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BANK OF AMERICA COMMON 06605F102 $4,472,184 16,660 X 67,708 17,680
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COLUMN TOTAL $84,233,613
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<PAGE>
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FORM 13F
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(SEC USE ONLY)
Page 2 of 7 09/30/00 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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BANK OF NEW YORK COMMON 064057102 $7,334,377 130,825 X 107,360 23,465
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BANK ONE COMMON 06423A103 $1,141,369 29,550 X 22,225 7,325
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BERKSHIRE HATHAWAY CL B COMMON 084670207 $2,895,930 1,399 X 1,111 288
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BMC SOFTWARE COMMON 055921100 $1,190,244 62,235 X 42,805 19,430
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BP AMOCO COMMON 055622104 $297,224 5,608 X 3,588 2,020
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BRISTOL-MYERS COMMON 110122108 $4,969,875 87,000 X 67,879 19,121
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BURLINGTON RESRS COMMON 122014103 $2,521,840 68,505 X 56,465 12,040
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CABLEVISION SYS COMMON 12686C109 $265,250 4,000 X 4,000 0
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CHASE MANHATTAN COMMON 16161A108 $563,869 12,208 X 9,574 2,634
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CHEVRON COMMON 166751107 $752,646 8,829 X 8,829 0
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CISCO SYSTEMS COMMON 17275R102 $11,239,121 203,423 X 166,823 36,600
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CITIGROUP COMMON 172967101 $20,365,560 376,704 X 293,475 83,229
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COCA-COLA COMMON 191216100 $9,579,554 173,779 X 139,819 33,960
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COSTCO WHOLESALE COMMON 22160K105 $567,734 16,250 X 15,450 800
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CYPRESS SEMI. COMMON 232806109 $479,008 11,525 X 9,550 1,975
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DIAGEO PLC ADR COMMON 25243Q205 $351,536 9,955 X 3,955 6,000
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DISNEY, WALT COMMON 254687106 $8,381,149 219,115 X 178,052 41,063
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EDS COMMON 285661104 $1,827,037 44,025 X 33,325 10,700
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EMC COMMON 268648102 $3,925,152 39,598 X 29,832 9,766
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EMERSON ELECTRIC COMMON 291011104 $1,867,625 27,875 X 20,225 7,650
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COLUMN TOTAL $80,516,100
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<PAGE>
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FORM 13F
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(SEC USE ONLY)
Page 3 of 7 09/30/00 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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ERICSSON COMMON 294821400 $646,936 43,675 X 13,000 30,675
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EXODUS COMM. INC. COMMON 302088109 $253,787 5,140 X 5,140 0
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EXXON MOBIL CORP COMMON 30231G102 $4,112,495 46,143 X 33,932 12,211
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FANNIE MAE COMMON 313586109 $4,484,051 62,714 X 47,164 15,550
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FEDEX CORP COMMON 31428X106 $219,483 4,950 X 4,950 0
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FLEXTRONICS INTL COMMON Y2573F102 $314,128 3,825 X 3,525 300
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FOREST LABS COMMON 345838106 $458,750 4,000 X 4,000 0
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FREDDIE MAC COMMON 313400301 $432,500 8,000 X 7,250 750
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GENERAL ELECTRIC COMMON 369604103 $18,857,562 326,892 X 264,802 62,090
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GILLETTE COMMON 375766102 $660,277 21,385 X 19,610 1,775
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GLOBAL CROSSING COMMON G3921A100 $4,121,905 132,965 X 109,533 23,432
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GOLDMAN SACHS COMMON 38141G104 $654,001 5,740 X 5,050 690
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GUIDANT COMMON 401698105 $5,214,263 73,765 X 62,195 11,570
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HEWLETT PACKARD COMMON 428236103 $8,300,775 85,575 X 66,575 19,000
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HOME DEPOT COMMON 437076102 $279,715 5,271 X 4,196 1,075
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HONEYWELL INTL. COMMON 438516106 $1,986,806 55,770 X 45,345 10,425
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HUBBELL CL B COMMON 443510201 $216,791 8,650 X 3,000 5,650
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IBM COMMON 459200101 $11,566,182 102,811 X 83,161 19,650
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INTEL COMMON 458140100 $7,951,530 191,315 X 156,203 35,112
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JOHNSON & JOHN COMMON 478160104 $10,575,014 112,575 X 87,764 24,811
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COLUMN TOTAL $81,306,951
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<PAGE>
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FORM 13F
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(SEC USE ONLY)
Page 4 of 7 09/30/00 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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KERR-MC GEE COMMON 492386107 $218,448 7,811 X 0 7,811
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KLA TENCOR COMMON 482480100 $397,816 5,625 X 5,625 0
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KROGER COMMON $316,837 10,000 X 10,000 0
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KYOCERA CORP ADR COMMON 501556203 $11,016,565 3,498 X 3,278 220
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LILLY, ELI COMMON 532457108 $12,173,584 21,620 X 15,700 5,920
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LINEAR TECH COMMON 535678106 $11,262,791 73,485 X 62,135 11,350
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LSI LOGIC COMMON 502161102 $472,599 10,750 X 10,300 450
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LUCENT TECH COMMON 549463107 $601,000 194,763 X 155,703 39,060
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MARSH MC LENNAN COMMON $1,631,957 2,405 X 1,800 605
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MBIA COMMON 55262C100 $4,660,085 4,050 X 2,550 1,500
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MBNA COMMON 55262L100 $416,762 11,205 X 11,205 0
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MEDTRONIC COMMON 585055106 $8,901,372 40,699 X 35,999 4,700
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MELLON FINANCIAL COMMON 58551A108 $267,441 53,200 X 42,800 10,400
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MERCK COMMON 589331107 $290,075 140,319 X 115,383 24,936
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MERRILL LYNCH COMMON 590188108 $1,998,684 61,640 X 48,090 13,550
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MICROSOFT COMMON 594918104 $1,992,220 81,339 X 63,659 17,680
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MINN MINING&MFG COMMON 604059105 $10,325,930 8,215 X 6,990 1,225
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MOLEX COMMON 608554101 $3,761,075 23,706 X 21,457 2,249
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MOLEX CL A COMMON 608554200 $5,301,440 236,226 X 192,134 44,092
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MORGAN STANLEY
DEAN WITTER COMMON 617446448 $560,175 134,994 X 113,187 21,807
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COLUMN TOTAL $76,566,856
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FORM 13F
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(SEC USE ONLY)
Page 5 of 7 09/30/00 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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MOTOROLA COMMON 620076109 $6,735,436 238,423 X 181,488 56,935
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NATIONAL CITY COMMON 635405103 $210,187 9,500 X 9,500 0
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NATL SEMI. COMMON 637640103 $373,117 9,270 X 8,495 775
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NOKIA ADR COMMON 654902204 $9,956,907 250,095 X 206,825 43,270
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NORTEL COMMON 656569100 $231,698 3,890 X 2,990 900
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ORACLE COMMON 68389X105 $431,156 5,475 X 5,275 200
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PAINE WEBBER COMMON 695629105 $204,375 3,000 X 3,000 0
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PALM,INC COMMON 696642107 $789,669 14,917 X 13,121 1,796
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PEPSICO COMMON 713448108 $9,630,790 209,365 X 160,875 48,490
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PFIZER COMMON 717081103 $16,764,354 373,059 X 302,030 71,029
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PHARMACIA CORP COMMON 611662107 $3,788,201 62,940 X 49,595 13,345
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PROCTER GAMBLE COMMON 742718109 $7,087,193 105,779 X 83,755 22,024
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QUALCOM COMMON 747525103 $21,375 300 X 300 0
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QWEST COMM INTL COMMON 749121109 $725,600 15,097 X 13,559 1,538
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RIVIANA FOODS COMMON 769536103 $233,625 14,000 X 14,000 0
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ROYAL DUTCH COMMON 780257804 $5,655,223 94,352 X 77,052 17,300
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SABRE HLDGS CORP COMMON 785905100 $303,844 10,500 X 6,500 4,000
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SBC COMM COMMON 78387G103 $3,610,900 72,218 X 59,346 12,872
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SCHERING PLOUGH COMMON 806605101 $5,965,950 128,300 X 102,460 25,840
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SEAGATE TECH COMMON 811804103 $201,480 2,920 X 2,420 500
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COLUMN TOTAL $72,921,080
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<PAGE>
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FORM 13F
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(SEC USE ONLY)
Page 6 of 7 09/30/00 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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SMITH KLINE BEECHAM COMMON 832378301 $682,476 9,945 X 9,620 325
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SOLECTRON COMMON 834182107 $1,213,318 26,305 X 18,755 7,550
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SONERA CORP. COMMON 835433202 $536,815 21,260 X 20,165 1,095
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SONY COMMON 835699307 $5,427,914 53,775 X 44,015 9,760
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ST JUDE MEDICAL COMMON 790849103 $357,000 7,000 X 7,000 0
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SUN MICROSYSTEMS COMMON 866810104 $325,499 2,788 X 2,150 638
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SUNGARD DATA SYSTEMS COMMON 867363103 $656,958 15,345 X 14,695 650
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TAIWAN SEMI. COMMON 874039100 $314,182 15,420 X 8,270 7,150
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TARGET CORP. COMMON 239753106 $4,099,256 159,971 X 133,371 26,600
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TEXACO COMMON 881694103 $1,494,517 28,467 X 22,217 6,250
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TEXAS INSTRMTS COMMON 882508104 $17,183,658 364,157 X 292,767 71,390
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TIME WARNER COMMON 887315109 $11,692,897 149,430 X 123,295 26,135
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UNILEVER NV COMMON 904784709 $2,130,286 44,151 X 38,866 5,285
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VERIZON COMMUNICATIONS COMMON 92343V104 $4,505,167 93,010 X 73,648 19,362
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VIACOM CL B COMMON 925524308 $11,719,634 200,336 X 164,041 36,295
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VODAFONE GROUP COMMON 92857T107 $4,475,335 120,955 X 100,605 20,350
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WAL-MART COMMON 931142103 $9,451,226 196,389 X 157,129 39,260
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WALGREEN COMMON 931422109 $461,055 12,153 X 9,353 2,800
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WELLS FARGO COMMON 949746101 $697,102 15,175 X 13,775 1,400
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WM WRIGLEY COMMON 982526105 $293,884 3,925 X 3,425 500
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COLUMN TOTAL $77,718,179
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FORM 13F
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(SEC USE ONLY)
Page 7 of 7 09/30/00 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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XILINX COMMON 983919101 $30,406,551 355,113 X 292,098 63,015
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COLUMN TOTAL $30,406,551
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$503,669,330
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</TABLE>
