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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: December 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: 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: 112
Form 13F Information Value Total (thousands): 402,164
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 12/31/99 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)
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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> <C> <C> <C> <C>
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3 COM Common 885535104 $683,380 14,540 X 12,140 2,400
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A T & T Common 001957109 $235,567 4,636 X 1,286 3,350
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ABBOTT LABS Common 002824100 $5,749,503 158,334 X 128,525 29,809
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AFLAC INC Common 001055102 $212,344 4,500 X 4,500 0
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AGILENT TECHNOLOGIES Common 00846u101 $880,589 11,390 X 11,190 200
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ALBERTSONS Common 013104104 $1,773,742 55,000 X 43,906 11,094
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ALLSTATE Common 020002101 $1,291,314 53,665 X 46,265 7,400
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ALTERA Common 021441100 $1,474,484 29,750 X 18,950 10,800
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ALZA CL A Common 022615108 $767,532 22,167 X 19,037 3,130
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AMER EXPRESS Common 025816109 $448,875 2,700 X 1,000 1,700
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AMER GENERAL Common 026351106 $5,076,645 66,908 X 54,823 12,085
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AMER HOME PROD Common 026609107 $4,169,331 106,225 X 90,255 15,970
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AMER INTL GROUP Common 026874107 $9,184,786 84,946 X 71,337 13,609
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AMER PWR CONVERSION Common 029066107 $389,295 14,760 X 14,760 0
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AMERICA ONLINE Common 02364J104 $563,751 7,430 X 7,430 0
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AMGEN Common 031162100 $2,083,268 34,685 X 31,635 3,050
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ANALOG DEVICES Common 032654105 $13,488,720 145,040 X 123,665 21,375
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ATMEL CORP. Common 049513104 $224,675 7,600 X 7,600 0
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BANK OF AMERICA Common 06605F102 $3,434,331 68,430 X 52,295 16,135
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COLUMN TOTAL $52,132,133
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FORM 13F
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(SEC USE ONLY)
Page 2 of 6 12/31/99 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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BANK OF NEW YORK 064057102 $3,919,000 97,975 81,835 16,140
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BANK ONE Common 06423A103 $1,398,880 43,715 X 37,550 6,165
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BERKSHIRE HATHAWAY
CL B Common 084670207 $2,523,570 1,379 X 1,148 231
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BP AMOCO Common 055622104 $2,738,221 46,166 X 36,455 9,711
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BRISTOL-MYERS Common 110122108 $8,544,640 133,120 X 108,700 24,420
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BURLINGTON RESRS Common 122014103 $819,950 24,800 X 20,400 4,400
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CABLEVISION SYS Common 12686C109 $203,850 2,700 X 2,700 0
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CHASE MANHATTAN Common 16161A108 $408,326 5,256 X 3,400 1,856
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CHEVRON Common 166751107 $666,239 7,691 X 7,691 0
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CHRIS-CRAFT Common 170520100 $1,827,576 25,339 X 19,689 5,650
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CISCO SYSTEMS Common 17275R102 $10,598,680 98,937 X 82,337 16,600
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CITIGROUP Common 172967101 $15,361,564 275,853 X 225,010 50,843
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COCA-COLA Common 191216100 $8,023,297 137,739 X 111,679 26,060
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COMDISCO INC Common 200336105 $1,093,288 29,350 X 28,725 625
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COMPASS BANCSHARES Common 20449H109 $269,758 12,090 X 12,090 0
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COSTCO WHOLESALE Common 22160K105 $515,563 5,650 X 5,400 250
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CYPRESS
SEMICONDUCTOR Common 232806109 $233,100 7,200 X 7,200 0
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DIAGEO PLC ADR Common 25243Q205 $1,624,640 50,770 X 37,581 13,189
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DISNEY, WALT Common 254687106 $5,908,939 202,015 X 169,615 32,400
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EDS Common 285661104 $4,372,692 65,325 X 55,440 9,885
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COLUMN TOTAL $71,051,771
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FORM 13F
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(SEC USE ONLY)
Page 3 of 6 12/31/99 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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EMC 268648102 $930,810 8,520 7,609 911
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EMERSON ELECTRIC Common 291011104 $1,469,374 25,610 X 19,410 6,200
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ERICSSON Common 294821400 $581,334 8,850 X 1,300 7,550
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EXXON MOBIL
CORPORATION Common 30231g102 $2,856,343 35,455 X 30,641 4,814
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FANNIE MAE Common 313586109 $5,209,473 83,435 X 65,455 17,980
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FEDEX CORP Common 31428X106 $3,026,919 73,940 X 63,715 10,225
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FIRST INVESTORS
FINCL SVCS Common $104,995 19,999 X 19,999 0
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FIRST UNION Common 337358105 $588,593 17,870 X 14,395 3,475
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FORD Common 345370100 $431,618 8,096 X 4,215 3,881
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FOREST LABORATORIES Common 345838106 $245,750 4,000 X 4,000 0
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FREDDIE MAC Common 313400301 $222,135 4,720 X 4,720 0
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GENERAL ELECTRIC Common 369604103 $15,893,578 102,705 X 85,583 17,122
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GENERAL INSTRUMENT Common 370120107 $359,975 4,235 X 3,885 350
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GENERAL MILLS Common 370334104 $2,564,383 71,731 X 57,281 14,450
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GILLETTE Common 375766102 $4,095,273 99,430 X 83,625 15,805
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GLOBAL CROSSING LTD Common G3921A100 $4,146,700 82,934 X 72,364 10,570
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GTE Common 362320103 $1,618,351 22,935 X 18,365 4,570
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GUIDANT Common 401698105 $1,460,995 31,085 X 27,085 4,000
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HARTFORD LIFE A Common 416592103 $2,005,300 45,575 X 39,915 5,660
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HERSHEY FOODS Common 427866108 $201,609 4,250 X 1,750 2,500
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COLUMN TOTAL $48,013,509
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FORM 13F
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(SEC USE ONLY)
Page 4 of 6 12/31/99 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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HEWLETT PACKARD 428236103 $9,069,288 79,730 64,130 15,600
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HOME DEPOT Common 437076102 $236,122 3,434 X 2,384 1,050
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HUBBELL CL B Common 443510201 $350,844 12,875 X 7,225 5,650
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IBM Common 459200101 $9,772,073 90,587 X 75,952 14,635
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INTEL Common 458140100 $7,277,166 88,409 X 72,271 16,138
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JOHNSON & JOHN Common 478160104 $9,012,240 96,646 X 78,105 18,541
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LILLY, ELI Common 532457108 $964,250 14,500 X 11,355 3,145
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LINEAR TECH Common 535678106 $2,691,108 37,605 X 33,230 4,375
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LSI LOGIC Common 502161102 $284,850 4,220 X 4,220 0
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LUCENT TECH Common 549463107 $6,052,125 80,695 X 61,674 19,021
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MBNA Common 55262L100 $347,765 12,762 X 12,005 757
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MEDTRONIC Common 585055106 $1,079,607 29,629 X 25,729 3,900
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MELLON FINANCIAL Common 58551A108 $1,911,758 56,125 X 46,925 9,200
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MERCK Common 589331107 $8,183,303 121,798 X 99,287 22,511
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MERRILL LYNCH Common 590188108 $2,785,970 33,440 X 27,040 6,400
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MICROSOFT Common 594918104 $9,027,694 77,325 X 57,265 20,060
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MINN MINING&MFG Common 604059105 $567,088 5,794 X 4,669 1,125
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MOLEX Common 608554101 $1,115,893 19,685 X 17,535 2,150
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MOLEX CL A Common 608554200 $7,995,268 176,691 X 149,396 27,295
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MORGAN STANLEY DEAN
WITTER Common 617446448 $9,882,583 69,230 X 59,194 10,036
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COLUMN TOTAL $88,606,991
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FORM 13F
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(SEC USE ONLY)
Page 5 of 6 12/31/99 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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MOTOROLA 620076109 $7,279,304 49,435 36,610 12,825
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NATIONAL CITY Common $253,456 10,700 X 10,700 0
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NATL SEMICONDUCTOR Common 637640103 $449,531 10,500 X 10,500 0
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NEWBRIDGE NETWORKS Common 650901101 $200,806 8,900 X 7,500 1,400
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NOKIA ADR Common 654902204 $9,046,809 47,350 X 39,850 7,500
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PEPSICO Common 713448108 $5,948,790 168,760 X 134,785 33,975
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PFIZER Common 717081103 $5,048,248 155,630 X 129,170 26,460
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PROCTER GAMBLE Common 742718109 $7,953,909 72,597 X 57,358 15,239
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RIVIANA FOODS Common 769536103 $576,875 32,500 X 32,500 0
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ROYAL DUTCH Common 780257804 $4,613,954 76,185 X 63,410 12,775
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SABRE HOLDINGS CORP.
CL A Common 785905100 $1,101,875 21,500 X 15,600 5,900
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SBC COMM Common 78387G103 $1,676,951 34,399 X 28,520 5,879
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SCHERING PLOUGH Common 806605101 $3,450,596 81,430 X 64,700 16,730
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SONY Common 835699307 $8,430,024 29,605 X 24,800 4,805
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SPRINT Common 852061100 $498,786 7,410 X 7,060 350
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ST JUDE MEDICAL Common 790849103 $214,813 7,000 X 7,000 0
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SW AIRLINES Common 844741108 $355,234 22,030 X 1,687 20,343
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T ROWE PRICE ASSOC Common 741477103 $358,294 9,700 X 6,800 2,900
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TARGET CORP. Common 239753106 $4,338,688 59,080 X 50,480 8,600
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TEXAS INSTRMTS Common 882508104 $17,261,090 178,640 X 148,750 29,890
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COLUMN TOTAL $79,058,032
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FORM 13F
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(SEC USE ONLY)
Page 6 of 6 12/31/99 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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TIME WARNER 887315109 $9,803,767 135,575 115,655 19,920
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UNILEVER NV Common 904784709 $1,149,992 21,125 X 18,715 2,410
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UNUMPROVIDENT
CORPORATION Common 91529y106 $489,017 15,252 X 12,866 2,386
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US WEST INC. Common 91273H101 $405,432 5,631 X 5,031 600
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VIACOM CL B Common 925524308 $10,780,539 178,375 X 149,605 28,770
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VISIO CORPORATION Common 927914101 $529,388 11,145 X 10,745 400
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VODAFONE AIRTOUCH
PLC Common 92857t107 $323,235 6,530 X 2,530 4,000
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WALGREEN Common 931422109 $269,100 9,200 X 6,800 2,400
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WAL-MART Common 931142103 $13,064,625 189,000 X 155,690 33,310
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WARNER LAMBERT Common 934488107 $6,132,039 74,838 X 62,198 12,640
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WM WRIGLEY Common 982526105 $414,273 4,995 X 3,795 1,200
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XILINX 983919101 $19,287,183 424,185 X 359,875 64,310
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XL CAPITAL G98255105 $653,936 12,606 X 10,945 1,661
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COLUMN TOTALS $63,302,526
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