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<PAGE> PAGE 2
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<PAGE> PAGE 5
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<PAGE> PAGE 8
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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SIGNATURE THOMAS G. ROSE
TITLE TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> SELIGMAN LARGE-CAP VALUE FUND CLASS A
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> SELIGMAN LARGE-CAP VALUE FUND CLASS B
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<SERIES>
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<NAME> SELIGMAN LARGE-CAP VALUE FUND CLASS C
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<AVERAGE-NET-ASSETS> 4639<F1>
<PER-SHARE-NAV-BEGIN> 10.55<F1>
<PER-SHARE-NII> (0.01)<F1>
<PER-SHARE-GAIN-APPREC> (0.92)<F1>
<PER-SHARE-DIVIDEND> 0<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 9.62<F1>
<EXPENSE-RATIO> 2.36<F1>
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<FN>
<F1>CLASS C ONLY. ALL OTHER DATA ARE FUND LEVEL.
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 014
<NAME> SELIGMAN LARGE-CAP VALUE FUND CLASS D
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 150441
<INVESTMENTS-AT-VALUE> 146725
<RECEIVABLES> 3317
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 58
<TOTAL-ASSETS> 150100
<PAYABLE-FOR-SECURITIES> 766
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2197
<TOTAL-LIABILITIES> 2963
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 145368
<SHARES-COMMON-STOCK> 3573<F1>
<SHARES-COMMON-PRIOR> 4308<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (2)
<ACCUMULATED-NET-GAINS> 5487
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (3716)
<NET-ASSETS> 34355<F1>
<DIVIDEND-INCOME> 924<F1>
<INTEREST-INCOME> 9<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (1039)<F1>
<NET-INVESTMENT-INCOME> (106)<F1>
<REALIZED-GAINS-CURRENT> 6453
<APPREC-INCREASE-CURRENT> (13691)
<NET-CHANGE-FROM-OPS> (7210)
<EQUALIZATION> (293)
<DISTRIBUTIONS-OF-INCOME> (101)<F1>
<DISTRIBUTIONS-OF-GAINS> 0<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 1957<F1>
<NUMBER-OF-SHARES-REDEEMED> (2692)<F1>
<SHARES-REINVESTED> 0<F1>
<NET-CHANGE-IN-ASSETS> (1387)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (600)
<OVERDISTRIB-NII-PRIOR> (1)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 369<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 1039<F1>
<AVERAGE-NET-ASSETS> 46191<F1>
<PER-SHARE-NAV-BEGIN> 9.96<F1>
<PER-SHARE-NII> (0.02)<F1>
<PER-SHARE-GAIN-APPREC> (0.32)<F1>
<PER-SHARE-DIVIDEND> 0<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 9.62<F1>
<EXPENSE-RATIO> 2.25<F1>
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<FN>
<F1>CLASS D ONLY. ALL OTHER DATA ARE FUND LEVEL.
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 021
<NAME> SELIGMAN SMALL-CAP VALUE FUND CLASS A
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 151566
<INVESTMENTS-AT-VALUE> 114272
<RECEIVABLES> 902
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 10
<TOTAL-ASSETS> 115184
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2286
<TOTAL-LIABILITIES> 2286
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 150224
<SHARES-COMMON-STOCK> 5144<F1>
<SHARES-COMMON-PRIOR> 7672<F1>
<ACCUMULATED-NII-CURRENT> (2)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (30)
<ACCUM-APPREC-OR-DEPREC> (37294)
<NET-ASSETS> 40678<F1>
<DIVIDEND-INCOME> 461<F1>
<INTEREST-INCOME> 9<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (924)<F1>
<NET-INVESTMENT-INCOME> (454)<F1>
<REALIZED-GAINS-CURRENT> 3899
<APPREC-INCREASE-CURRENT> (3700)
<NET-CHANGE-FROM-OPS> (1781)
<EQUALIZATION> (1581)
<DISTRIBUTIONS-OF-INCOME> 0<F1>
<DISTRIBUTIONS-OF-GAINS> (217)<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 3777<F1>
<NUMBER-OF-SHARES-REDEEMED> (6327)<F1>
<SHARES-REINVESTED> 22<F1>
<NET-CHANGE-IN-ASSETS> (64745)
<ACCUMULATED-NII-PRIOR> (1)
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (178)
<GROSS-ADVISORY-FEES> 497<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 924<F1>
<AVERAGE-NET-ASSETS> 49674<F1>
<PER-SHARE-NAV-BEGIN> 7.87<F1>
<PER-SHARE-NII> (0.07)<F1>
<PER-SHARE-GAIN-APPREC> 0.15<F1>
<PER-SHARE-DIVIDEND> 0<F1>
<PER-SHARE-DISTRIBUTIONS> (0.04)<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 7.91<F1>
<EXPENSE-RATIO> 1.86<F1>
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<FN>
<F1>CLASS A ONLY. ALL OTHER DATA ARE FUND LEVEL.
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 022
<NAME> SELIGMAN SMALL-CAP VALUE FUND CLASS B
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 151566
<INVESTMENTS-AT-VALUE> 114272
<RECEIVABLES> 902
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 10
<TOTAL-ASSETS> 115184
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2286
<TOTAL-LIABILITIES> 2286
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 150224
<SHARES-COMMON-STOCK> 5934<F1>
<SHARES-COMMON-PRIOR> 9240<F1>
<ACCUMULATED-NII-CURRENT> (2)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (30)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (37294)
<NET-ASSETS> 46030<F1>
<DIVIDEND-INCOME> 539<F1>
<INTEREST-INCOME> 10<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (1515)<F1>
<NET-INVESTMENT-INCOME> (966)<F1>
<REALIZED-GAINS-CURRENT> 3890
<APPREC-INCREASE-CURRENT> (3700)
<NET-CHANGE-FROM-OPS> (1781)
<EQUALIZATION> (1158)
<DISTRIBUTIONS-OF-INCOME> 0<F1>
<DISTRIBUTIONS-OF-GAINS> (252)<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 955<F1>
<NUMBER-OF-SHARES-REDEEMED> (4281)<F1>
<SHARES-REINVESTED> 20<F1>
<NET-CHANGE-IN-ASSETS> (64745)
<ACCUMULATED-NII-PRIOR> (1)
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (178)
<GROSS-ADVISORY-FEES> 580<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 1515<F1>
<AVERAGE-NET-ASSETS> 58016<F1>
<PER-SHARE-NAV-BEGIN> 7.78<F1>
<PER-SHARE-NII> (0.14)<F1>
<PER-SHARE-GAIN-APPREC> 0.16<F1>
<PER-SHARE-DIVIDEND> 0<F1>
<PER-SHARE-DISTRIBUTIONS> (0.04)<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 7.76<F1>
<EXPENSE-RATIO> 2.61<F1>
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<FN>
<F1>CLASS B ONLY. ALL OTHER DATA ARE FUND LEVEL.
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 023
<NAME> SELIGMAN SMALL-CAP VALUE FUND CLASS C
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> MAY-27-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 151566
<INVESTMENTS-AT-VALUE> 114272
<RECEIVABLES> 902
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 10
<TOTAL-ASSETS> 115184
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2286
<TOTAL-LIABILITIES> 2286
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 150224
<SHARES-COMMON-STOCK> 162<F1>
<SHARES-COMMON-PRIOR> 0<F1>
<ACCUMULATED-NII-CURRENT> (2)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (30)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (37294)
<NET-ASSETS> 1254<F1>
<DIVIDEND-INCOME> 4<F1>
<INTEREST-INCOME> 0<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (11)<F1>
<NET-INVESTMENT-INCOME> (7)<F1>
<REALIZED-GAINS-CURRENT> 3890
<APPREC-INCREASE-CURRENT> (3700)
<NET-CHANGE-FROM-OPS> (1781)
<EQUALIZATION> (1158)
<DISTRIBUTIONS-OF-INCOME> 0<F1>
<DISTRIBUTIONS-OF-GAINS> (5)<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 179<F1>
<NUMBER-OF-SHARES-REDEEMED> (18)<F1>
<SHARES-REINVESTED> 1<F1>
<NET-CHANGE-IN-ASSETS> (64745)
<ACCUMULATED-NII-PRIOR> (1)
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (178)
<GROSS-ADVISORY-FEES> 4<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 11<F1>
<AVERAGE-NET-ASSETS> 690<F1>
<PER-SHARE-NAV-BEGIN> 8.10<F1>
<PER-SHARE-NII> (0.07)<F1>
<PER-SHARE-GAIN-APPREC> (0.23)<F1>
<PER-SHARE-DIVIDEND> 0<F1>
<PER-SHARE-DISTRIBUTIONS> (0.04)<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 7.76<F1>
<EXPENSE-RATIO> 2.69<F1>
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<FN>
<F1>CLASS B ONLY. ALL OTHER DATA ARE FUND LEVEL.
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 024
<NAME> SELIGMAN SMALL-CAP VALUE FUND CLASS D
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 151566
<INVESTMENTS-AT-VALUE> 114272
<RECEIVABLES> 902
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 10
<TOTAL-ASSETS> 115184
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2286
<TOTAL-LIABILITIES> 2286
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 150224
<SHARES-COMMON-STOCK> 3214<F1>
<SHARES-COMMON-PRIOR> 5833<F1>
<ACCUMULATED-NII-CURRENT> (2)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (30)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (37294)
<NET-ASSETS> 24936<F1>
<DIVIDEND-INCOME> 310<F1>
<INTEREST-INCOME> 6<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (869)<F1>
<NET-INVESTMENT-INCOME> (553)<F1>
<REALIZED-GAINS-CURRENT> 3890
<APPREC-INCREASE-CURRENT> (3700)
<NET-CHANGE-FROM-OPS> (1781)
<EQUALIZATION> (1158)
<DISTRIBUTIONS-OF-INCOME> 0<F1>
<DISTRIBUTIONS-OF-GAINS> (140)<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 1158<F1>
<NUMBER-OF-SHARES-REDEEMED> (3788)<F1>
<SHARES-REINVESTED> 11<F1>
<NET-CHANGE-IN-ASSETS> (64745)
<ACCUMULATED-NII-PRIOR> (1)
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (178)
<GROSS-ADVISORY-FEES> 333<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 869<F1>
<AVERAGE-NET-ASSETS> 33285<F1>
<PER-SHARE-NAV-BEGIN> 7.78<F1>
<PER-SHARE-NII> (0.13)<F1>
<PER-SHARE-GAIN-APPREC> 0.15<F1>
<PER-SHARE-DIVIDEND> 0<F1>
<PER-SHARE-DISTRIBUTIONS> (0.04)<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 7.76<F1>
<EXPENSE-RATIO> 2.61<F1>
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<FN>
<F1>CLASS D ONLY. ALL OTHER DATA ARE FUND LEVEL.
</FN>
</TABLE>
INDEPENDENT AUDITORS REPORT
The Board of Directors
Seligman Large-Cap Value Fund
In planning and performing our audit of the financial statements
of Seligman Large-Cap Value Fund (the Fund) for the year
ended December 31, 1999 (on which we have issued our report
dated February 11, 2000), we considered its internal control,
including control activities for safeguarding securities, in order
to determine our auditing procedures for the purpose of
expressing our opinion on the financial statements and to
comply with the requirements of Form N-SAR, and not to
provide assurance on the Funds internal control.
The management of the Fund is responsible for establishing and
maintaining internal control. In fulfilling this responsibility,
estimates and judgments by management are required to assess
the expected benefits and related costs of controls. Generally,
controls that are relevant to an audit pertain to the entitys
objective of preparing financial statements for external purposes
that are fairly presented in conformity with generally accepted
accounting principles. Those controls include the safeguarding
of assets against unauthorized acquisition, use, or disposition.
Because of inherent limitations in any internal control,
misstatements due to error or fraud may occur and not be
detected. Also, projections of any evaluation of internal control
to future periods are subject to the risk that the internal control
may become inadequate because of changes in conditions, or
that the degree of compliance with policies and procedures may
deteriorate.
Our consideration of the Funds internal control would not
necessarily disclose all matters in the internal control that might
be material weaknesses under standards established by the
American Institute of Certified Public Accountants. A material
weakness is a condition in which the design or operation of one
or more of the internal control components does not reduce to a
relatively low level the risk that misstatements caused by error
or fraud in amounts that would be material in relation to the
financial statements being audited may occur and not be
detected within a timely period by employees in the normal
course of performing their assigned functions. However, we
noted no matters involving the Funds internal control and its
operation, including controls for safeguarding securities, that we
consider to be material weaknesses as defined above as of
December 31, 1999.
This report is intended solely for the information and use of
management, and the Board of Directors of Seligman Large-Cap
Value Fund, and the Securities and Exchange Commission and
is not intended to be and should not be used by anyone other
than these specified parties.
Deloitte & Touche LLP
New York, New York
February 11, 2000
INDEPENDENT AUDITORS REPORT
The Board of Directors
Seligman Small-Cap Value Fund
In planning and performing our audit of the financial statements
of Seligman Small-Cap Value Fund (the Fund) for year ended
December 31, 1999 (on which we have issued our report dated
February 11, 2000), we considered its internal control, including
control activities for safeguarding securities, in order to
determine our auditing procedures for the purpose of expressing
our opinion on the financial statements and to comply with the
requirements of Form N-SAR, and not to provide assurance on
the Funds internal control.
The management of the Fund is responsible for establishing and
maintaining internal control. In fulfilling this responsibility,
estimates and judgments by management are required to assess
the expected benefits and related costs of controls. Generally,
controls that are relevant to an audit pertain to the entitys
objective of preparing financial statements for external purposes
that are fairly presented in conformity with generally accepted
accounting principles. Those controls include the safeguarding
of assets against unauthorized acquisition, use, or disposition.
Because of inherent limitations in any internal control,
misstatements due to error or fraud may occur and not be
detected. Also, projections of any evaluation of internal control
to future periods are subject to the risk that the internal control
may become inadequate because of changes in conditions, or
that the degree of compliance with policies and procedures may
deteriorate.
Our consideration of the Funds internal control would not
necessarily disclose all matters in the internal control that might
be material weaknesses under standards established by the
American Institute of Certified Public Accountants. A material
weakness is a condition in which the design or operation of one
or more of the internal control components does not reduce to a
relatively low level the risk that misstatements caused by error
or fraud in amounts that would be material in relation to the
financial statements being audited may occur and not be
detected within a timely period by employees in the normal
course of performing their assigned functions. However, we
noted no matters involving the Funds internal control and its
operation, including controls for safeguarding securities, that we
consider to be material weaknesses as defined above as of
December 31, 1999.
This report is intended solely for the information and use of
management, and the Board of Directors of Seligman Small-Cap
Value Fund, and the Securities and Exchange Commission and
is not intended to be and should not be used by anyone other
than these specified parties.
Deloitte & Touche LLP
New York, New York
February 11, 2000
