UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: September 30, 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: Voyageur Asset Management LLC
Address: 90 South Seventh Street, Suite 4300
Minneapolis, MN 55402
13F File Number: 28-6284
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: Frank C. Tonnemaker
Title: CEO
Phone: (612) 376-7059
Signature, Place and Date of Signing:
/s/ Frank C. Tonnemaker Minneapolis, Minnesota Date: November 9, 1999
Frank C. Tonnemaker
Report type: (Check only one.):
[ X ] 13F HOLDINGS REPORT
[ ] 13F NOTICE
[ ] 13F COMBINATION REPORT
List of other Managers Reporting for this Manager: None
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934.
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: None
Form 13F Information Table Entry Total: 90
Form 13F Information Table Value Total: $768,484,461
List of Other Included Managers: None
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FORM 13F
As/of September 30, 1999
Name of Reporting Manager: Voyageur Asset Management LLC
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Item 1: Item 2: Item 3: Item 4: Item 5: Item 6: Item 7: Item 8: Voting Authority
Invesment Discretion (Shares)
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Name of Issuer Title of Class Cusip Fair Market Shares of (a) (b) (c) Managers (a) (b) (c)
Number Value Principal Sole Share as Shared see Sole Shared None
Amt defined Other Instr. V
in Instr.V
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ADC Telecommuni -Common Stock 000886101 938,363 22,375 X 16,675 - 5,700
cations
Abbott Labs -Common Stock 002824100 21,578,671 588,167 X 533,827 - 54,340
AES Corporation -Common Stock 00130H105 5,982,600 101,400 X 101,400 - 0
Aflac Inc -Common Stock 001055102 481,563 11,500 X 8,500 - 3,000
Albertsons Inc -Common Stock 013104104 15,515,659 392,176 X 350,126 - 42,050
Allied Signal Inc -Common Stock 019512102 920,048 15,350 X 10,600 - 4,750
American Express -Common Stock 025816109 364,500 2,700 X 1,800 - 900
American Interna- -Common Stock 026874107 6,970,689 80,180 X 76,995 - 3,185
tional Group Inc
Anheuser Busch -Common Stock 035229103 484,135 6,910 X 5,010 - 1,900
Associates First -Common Stock 046008108 6,001,200 166,700 X 163,900 - 2,800
Capital
AT&T Corp. -Common Stock 001957109 4,328,381 99,503 X 98,105 - 1,398
Automatic Data -Common Stock 53015103 21,964,247 492,196 X 451,466 - 40,730
Processing
Baker Hughes Inc -Common Stock 057224107 1,503,650 51,850 X 51,100 - 750
Bankamerica Corp -Common Stock 066050105 3,594,215 64,542 X 63,687 - 855
Bell Atlantic Corp -Common Stock 077853109 363,490 5,400 X 3,400 - 2,000
Bellsouth Corp -Common Stock 079860102 8,500,500 188,900 X 187,350 - 1,550
Bemis -Common Stock 081437105 16,938,042 500,016 X 455,126 - 44,890
Bristol Meyers -Common Stock 110122108 7,226,550 107,060 X 102,060 - 5,000
Carnival -Common Stock 143658102 6,257,475 143,850 X 143,850 - 0
Corporation
Cintas Corp -Common Stock 172908105 5,403,625 93,450 X 93,450 - 0
Cisco Systems Inc. -Common Stock 17275R102 10,687,258 155,875 X 150,200 - 5,675
Clear Channel -Common Stock 184502102 860,653 10,775 X 8,000 - 2,775
Communications
Computer Associates -Common Stock 204912109 213,938 3,500 X 3,500 - 0
Computer Sciences -Common Stock 205363104 7,545,640 107,315 X 104,890 - 2,425
Corp
ConAgra Inc -Common Stock 205887102 16,226,723 719,174 X 659,184 - 59,990
Conoco Inc - Cl A -Common Stock 208251306 430,125 15,500 X 9,700 - 5,800
CVS Corporation -Common Stock 126650100 424,455 10,400 X 6,700 - 3,700
Dayton Hudson -Common Stock 239753106 474,498 7,900 X 5,000 - 2,900
Duke Energy -Common Stock 264399106 3,650,102 66,215 X 64,615 - 1,600
Corporation
Ecolab Inc -Common Stock 278865100 4,047,225 118,600 X 118,600 - 0
EMC Corp./ Mass -Common Stock 268648102 8,285,567 116,085 X 113,860 - 2,225
Emerson Electric -Common Stock 291011104 24,601,616 389,340 X 359,175 - 30,165
Equifax Inc -Common Stock 294429105 348,750 12,400 X 7,900 - 4,500
Exxon Corp -Common Stock 302290101 8,677,680 114,180 X 104,530 - 9,650
Fannie Mae -Common Stock 313586109 5,834,686 93,075 X 89,725 - 3,350
Freddie Mac -Common Stock 313400301 247,520 4,760 X 4,200 - 560
Gannett Company -Common Stock 364730101 20,523,721 296,637 X 268,247 - 28,390
General Electric Co -Common Stock 369604103 10,690,826 90,170 X 85,020 - 5,150
Genuine Parts -Common Stock 372460105 15,462,163 582,094 X 531,864 - 50,230
Grainger WW Inc -Common Stock 384802104 23,943,208 498,163 X 461,388 - 36,775
Heller Financial Inc-Common Stk P0 423328103 3,128,063 139,025 X 136,150 - 2,875
Hewlett Packard -Common Stock 428236103 21,849,605 240,767 X 218,727 - 22,040
Home Depot Inc -Common Stock 437076102 5,373,200 78,298 X 77,248 - 1,050
Honeywell Inc -Common Stock 438506107 378,464 3,400 X 3,400 - 0
Illinois Tool -Common Stock 452308109 23,700,222 317,855 X 294,835 - 23,020
Works
Infinity Broad -Common Stock 45662S102 6,130,814 209,150 X 200,450 - 8,700
casting CP New
Ingersoll-Rand Co -Common Stock 456866102 335,122 6,100 X 3,900 - 2,200
Intel Corp -Common Stock 458140100 29,959,658 403,155 X 369,475 - 33,680
Interpublic Group Co-Common Stock 460690100 448,263 10,900 X 6,900 - 4,000
Keycorp - New -Common Stock 493267108 15,200,863 588,884 X 537,174 - 51,710
Jefferson Pilot -Common Stock 493267108 17,454,168 276,226 X 254,406 - 21,820
Johnson Control Inc -Common Stock 478366107 200,265 3,020 X 3,020 - 0
Johnson & -Common Stock 478160104 8,172,281 88,950 X 86,000 - 2,950
Johnson Co
Lowe's Company -Common Stock 548661107 5,133,863 105,310 X 101,410 - 3,900
McDonalds Corp -Common Stock 580135101 544,085 12,580 X 1,580 - 11,000
MCI Worldcom Inc -Common Stock 55268B106 273,125 3,800 X 2,400 - 1,400
Medtronic Inc -Common Stock 585055106 4,689,337 131,860 X 125,150 - 6,710
Merck & Co -Common Stock 589331107 24,755,131 381,947 X 352,467 - 29,480
Merrill Lynch & Co -Common Stock 590188108 5,455,691 80,975 X 79,525 - 1,450
Microsoft Corp. -Common Stock 594918104 3,980,244 43,950 X 42,150 - 1,800
Morgan Stanley -Common Stock 617446448 6,013,501 67,425 X 65,125 - 2,300
Dean Witter Discover
Newell Rubber -Common Stock 651229106 13,534,578 473,850 X 436,020 - 37,830
New York Times -Common Stock 650111107 3,352,500 89,400 X 88,250 - 1,150
Class A
Omnicom Group, Inc -Common Stock 681919106 7,928,699 100,125 X 98,925 - 1,200
Oracle Systems -Common Stock 68489X105 5,818,085 127,870 X 122,070 - 5,800
Corporation
Paychex Inc -Common Stock 704326107 6,193,688 181,500 X 181,500 - 0
Pepsi Bottling -Common Stock 713409100 1,699,475 99,600 X 97,600 - 2,000
Group
Pepsico Inc -Common Stock 713448108 468,175 15,350 X 10,000 - 5,350
Philip Morris -Common Stock 718154107 18,354,409 536,867 X 496,797 - 40,070
Pitney Bowes -Common Stock 724479100 262,033 4,300 X 3,500 800
Procter & Gamble -Common Stock 742718109 6,105,469 65,125 X 63,775 - 1,350
Providian -Common Stock 74406A102 7,375,966 93,145 X 90,600 - 2,545
Financial Corp
Royal Dutch -Common Stk P2 780257804 21,338,753 361,288 X 330,578 - 30,710
Petroleum
Schering Plough -Common Stock 806605101 22,190,074 508,655 X 469,635 - 39,020
Corp
Shell Trans & -Common Stock 822703609 20,513,038 450,836 X 408,076 - 42,760
New York Trading
PLC Sh
Sherwin Williams -Common Stock 824348106 14,892,906 711,286 X 641,896 - 69,390
Sigma-Aldrich -Common Stock 826552101 19,883,374 626,248 X 578,688 - 47,560
Southtrust -Common Stock 844730101 19,036,961 530,647 X 480,762 - 49,885
Corporation
Sun Microsystems -Common Stock 866810104 5,319,600 57,200 X 57,200 - 0
Sybron Intl Corp -Common Stock 87114F106 255,313 9,500 X 9,500 - 0
Sysco Corporation -Common Stock 871829107 32,864,375 937,295 X 866,905 - 70,390
Tellabs Inc -Common Stk P0 879664100 5,758,140 101,130 X 99,680 - 1,450
Texas Instruments -Common Stock 882508104 254,975 3,100 X 2,400 - 700
Inc
U S Bancorp -Common Stock 902973106 1,737,018 57,540 X 0 - 57,540
UnitedGlobalCom Inc -Common Stk P0 913247508 3,531,113 49,300 X 47,700 - 1,600
US Foodservice Inc -Common Stk PO 90331R101 1,306,800 72,600 X 70,700 - 1,900
UST Inc -Common Stock 902911106 18,773,253 621,878 X 575,508 - 46,370
USX Marathon -Common Stock 902905827 330,525 11,300 X 7,300 - 4,000
Group Inc
Vitesse Semi- -Common Stock 928497106 806,794 9,450 X 7,600 - 1,850
Conductor Corp
Walmart Stores -Common Stock 931142103 26,929,457 566,185 X 519,275 - 46,910
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