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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 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: Kenneth Lipper
Address: 101 Park Avenue, 6th Floor
New York, New York 10178
Form 13F File Number: 28-6106
The institutional investment manager filing this report and the
attachment hereto 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: Kenneth Lipper
Phone: (212) 883-6333
Signature, Place and Date of Signing:
/s/ Kenneth Lipper New York, New York May 14, 1999
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).)
<PAGE>
FORM 13F SUMMARY PAGE
Report Summary
Number of Other Included Managers: 5
Form 13F Information Table Entry Total: 68
Form 13F Information Table Value Total: $162,157 (thousands)
CONFIDENTIAL INFORMATION HAS BEEN OMITTED FROM THE PUBLIC FORM 13F REPORT AND
FILED SEPARATELY WITH THE COMMISSION.
List of Other Included Mangers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is
filed, other than the manager filing this report.
No. Form 13F File Number Name
1 28-6547 Jerome Services Corp. LDC
2 28-6112 Lipper & Company, Inc.
3 28-6114 Lipper & Company, L.P.
4 28-6108 Lipper Convertibles, L.P.
5 28-6802 Lipper Holdings, LLC
<PAGE>
ATTACHMENT
Kenneth Lipper ("K. Lipper") owns a majority of the shares of Lipper & Company,
Inc. ("Lipper Inc."), a Delaware corporation, and a majority of the interests of
Lipper Holdings, LLC ("Lipper Holdings"), a Delaware limited liability company.
Lipper Inc. is the general partner of Lipper & Company, L.P. ("Lipper L.P."), a
Delaware limited partnership, and the manager of Lipper Holdings. Lipper L.P. is
the investment manager of a number of limited partnerships. Lipper Holdings is
the general partner of a number of limited partnerships, some of which are or
may be deemed to be "institutional investment managers" for the purposes of the
reporting requirements under Section 13(f) of the Act; in particular, these
include Lipper Convertibles, L.P. ("Lipper Convertibles"). K. Lipper is the
majority shareholder of Jerome Service Corp. LDC ("Jerome Services"), a Cayman
Islands limited duration company, which is the general partner of a number of
limited partnerships. K. Lipper, by virtue of his relationship to the
aforementioned entities, may be deemed to exercise investment discretion with
respect to the Section 13(f) securities held directly and indirectly by such
entities, but K. Lipper disclaims investment discretion with respect to such
Section 13(f) securities for all other purposes. To the extent that K. Lipper's
interest in the aforementioned entities may nevertheless give rise to a Form 13F
filing obligation for K. Lipper, the information required by Form 13F is
reported herein on behalf of certain entities which are themselves institutional
investment managers subject to Section 13(f) of the Act. In that regard, the
Section 13(f) securities positions of Jerome Services, Lipper Inc., Lipper L.P.,
Lipper Convertibles and Lipper Holdings are included in this Form 13F report by
K. Lipper on behalf of himself and each such entity.
<PAGE>
FORM 13F INFORMATION TABLE
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Col. 1 Col. 2 Col. 3 Col. 4 Col. 5 Col. 6 Col. 7 Col. 8
- ------------------------------------------------------------------------------------------------------------------------------------
Fair Market Shares or Voting Authority
Val Principal Investment Other ----------------------
Name of Issuer Title of Class CUSIP No. (x$1000) Amt Discretion Managers Sole Shared None
- -------------- -------------- ----------- ------------ --------- ---------- -------- ------ ------ ------
<S> <C> <C> <C> <C> <C> <C> <C>
Adaptec Inc 4.75% Conv '04 00651F AC 2 1,764 2,125,000 Shared-Def 2,3,5
Adaptec Inc 4.75% Conv '04 00651F AC 2 415 500,000 Shared-Def 2,3
Adaptec Inc 4.75% Conv '04 00651F AC 2 830 1,000,000 Shared-Def
Adaptec Inc 4.75% Conv '04 00651F AC 2 311 375,000 Shared-Def 1,2,3
American Home Products Com 026609 10 7 2,597 39,800 Shared-Def 2,3 39,800
American Home Products Com 026609 10 7 1,657 25,400 Shared-Def 25,400
American Home Products Com 026609 10 7 705 10,800 Shared-Def 1,2,3 10,800
American Home Products Com 026609 10 7 5,050 77,400 Shared-Def 2,3,5 77,400
Compaq Computer Com 204493 10 0 3,609 113,900 Shared-Def 2,3 113,900
Compaq Computer Com 204493 10 0 1,426 45,000 Shared-Def 45,000
Compaq Computer Com 204493 10 0 1,435 45,300 Shared-Def 1,2,3 45,300
Compaq Computer Com 204493 10 0 10,527 332,200 Shared-Def 2,3,5 332,200
Delta & Pine Ld Co Com 247357 10 6 1,125 36,600 Shared-Def 36,600
E I Dupont De Nemours Co Com 263534 10 9 10,666 183,700 Shared-Def 2,3 183,700
E I Dupont De Nemours Co Com 263534 10 9 1,219 21,000 Shared-Def 21,000
E I Dupont De Nemours Co Com 263534 10 9 1,068 18,400 Shared-Def 1,2,3 18,400
E I Dupont De Nemours Co Com 263534 10 9 7,757 133,600 Shared-Def 2,3,5 133,600
General Motors Corp Cl H Com 370442 83 2 6,259 124,100 Shared-Def 2,3 124,100
General Motors Corp Cl H Com 370442 83 2 3,581 71,000 Shared-Def 71,000
General Motors Corp Cl H Com 370442 83 2 1,281 25,400 Shared-Def 1,2,3 25,400
General Motors Corp Cl H Com 370442 83 2 9,054 179,500 Shared-Def 2,3,5 179,500
Gillette Co Com 375766 10 2 4,921 82,800 Shared-Def 2,3 82,800
Gillette Co Com 375766 10 2 1,474 24,800 Shared-Def 24,800
Gillette Co Com 375766 10 2 886 14,900 Shared-Def 1,2,3 14,900
Gillette Co Com 375766 10 2 7,703 129,600 Shared-Def 2,3,5 129,600
HealthSouth Corp 3.25% Conv '03 421924 AF 8 1,435 1,750,000 Shared-Def 2,3,5
HealthSouth Corp 3.25% Conv '03 421924 AF 8 410 500,000 Shared-Def 2,3
HealthSouth Corp 3.25% Conv '03 421924 AF 8 410 500,000 Shared-Def
Hexcel Corporation 7% Conv '03 428291 AA 6 1,750 2,125,000 Shared-Def 2,3,5
Hexcel Corporation 7% Conv '03 428291 AA 6 462 561,000 Shared-Def 2,3
Hexcel Corporation 7% Conv '03 428291 AA 6 1,030 1,250,000 Shared-Def
Hexcel Corporation 7% Conv '03 428291 AA 6 206 250,000 Shared-Def 1,2,3
Honeywell Inc Com 438506 10 7 5,019 66,200 Shared-Def 2,3 66,200
Honeywell Inc Com 438506 10 7 1,403 18,500 Shared-Def 18,500
Honeywell Inc Com 438506 10 7 902 11,900 Shared-Def 1,2,3 11,900
Honeywell Inc Com 438506 10 7 7,839 103,400 Shared-Def 2,3,5 103,400
J.D. Edwards & Co Com 281667 10 5 2,732 228,900 Shared-Def 2,3 228,900
J.D. Edwards & Co Com 281667 10 5 605 50,700 Shared-Def 50,700
J.D. Edwards & Co Com 281667 10 5 372 31,200 Shared-Def 1,2,3 31,200
J.D. Edwards & Co Com 281667 10 5 2,705 226,600 Shared-Def 2,3,5 226,600
Loral Corp Com G56462 10 7 1,617 92,000 Shared-Def 2,3 92,000
Loral Corp Com G56462 10 7 289 20,000 Shared-Def 20,000
Loral Corp Com G56462 10 7 290 20,100 Shared-Def 1,2,3 20,100
Loral Corp Com G56462 10 7 2,135 147,900 Shared-Def 2,3,5 147,900
Mascotech Inc 4.5% Conv '03 574670 AB 1 2,118 2,750,000 Shared-Def 2,3,5
Mascotech Inc 4.5% Conv '03 574670 AB 1 674 875,000 Shared-Def 2,3
Mascotech Inc 4.5% Conv '03 574670 AB 1 1,540 2,000,000 Shared-Def
Mascotech Inc 4.5% Conv '03 574670 AB 1 289 375,000 Shared-Def 1,2,3
Monsanto Company Com 611662 10 7 5,903 128,500 Shared-Def 2,3 128,500
Monsanto Company Com 611662 10 7 1,566 34,100 Shared-Def 34,100
Monsanto Company Com 611662 10 7 1,167 25,400 Shared-Def 1,2,3 25,400
Monsanto Company Com 611662 10 7 8,319 181,100 Shared-Def 2,3,5 181,100
Omnicare Inc. 5% Conv '07 681904 AD0 2,173 2,750,000 Shared-Def 2,3,5
Omnicare Inc. 5% Conv '07 681904 AD0 1,876 2,375,000 Shared-Def 2,3
Omnicare Inc. 5% Conv '07 681904 AD0 1,580 2,000,000 Shared-Def
Omnicare Inc. 5% Conv '07 681904 AD0 296 375,000 Shared-Def 1,2,3
SAP Aktiengesellschaft Spnsrd ADR 803054 20 4 1,989 75,600 Shared-Def 2,3 75,600
SAP Aktiengesellschaft Spnsrd ADR 803054 20 4 1,121 42,600 Shared-Def 42,600
SAP Aktiengesellschaft Spnsrd ADR 803054 20 4 358 13,600 Shared-Def 1,2,3 13,600
SAP Aktiengesellschaft Spnsrd ADR 803054 20 4 3,110 118,200 Shared-Def 2,3,5 118,200
Thermo Electron Corp 4.25% Conv '03 883556 AF 9 1,442 1,625,000 Shared-Def 2,3,5
Thermo Electron Corp 4.25% Conv '03 883556 AF 9 1,997 2,250,000 Shared-Def 2,3
Thermo Electron Corp 4.25% Conv '03 883556 AF 9 1,664 1,875,000 Shared-Def
Thermo Electron Corp 4.25% Conv '03 883556 AF 9 222 250,000 Shared-Def 1,2,3
World Color Press Inc Del 6.00% Conv '07 981443 AA 2 1,690 1,875,000 Shared-Def 2,3,5
World Color Press Inc Del 6.00% Conv '07 981443 AA 2 665 738,000 Shared-Def 2,3
World Color Press Inc Del 6.00% Conv '07 981443 AA 2 1,127 1,250,000 Shared-Def
World Color Press Inc Del 6.00% Conv '07 981443 AA 2 338 375,000 Shared-Def 1,2,3
</TABLE>
