UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter ended: March 31, 1999
Check here if Amendment [ x ]; Amendment Number:
This Amendment (Check only one.): [ x ] is a restatement.
[ ] adds new holdings entries.
Investment Manager Filing this Report:
Name: Rayner Associates, Inc.
Address: 655 Redwood Highway
Suite 370
Mill Valley, California 94941
13F File Number: 28-6446
The 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: Arno A. Rayner
Title: President
Phone: 415-332-7433
Signature, Place, and Date of Signing:
Arno A. Rayner Mill Valley, California May 14, 1999
Report Type:
[x] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
List of Other Managers Reporting for this Manager:
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934.
<PAGE>
FORM 13F SUMMARY PAGE
REPORT SUMMARY:
NUMBER OF OTHER INCLUDED MANAGERS: 0
FORM 13F INFORMATION TABLE ENTRY TOTAL: 68
FORM 13F INFORMATION TABLE VALUE TOTAL: 150906
<PAGE>
FORM 13F
March 31, 1999
Voting Authority
--------------------------
Value Shares/ Sh/
Put/ Invstmt Other
Name of Issuer Title of class CUSIP (x$1000) Prn Amt Prn
Call Dscretn Managers Sole Shared None
- ------------------------------ ---------------- --------- -------- -------- ---
- ---- ------- ------------ -------- -------- --------
AFLAC, Inc. COM 001055102 1522 27950 SH
Sole 27950
AT&T Corp. COM 001957109 851 10667 SH
Sole 10667
Abbott Labs COM 002824100 2678 57200 SH
Sole 57200
Albertsons COM 013104104 495 9100 SH
Sole 9100
Allstate Corp. COM 020002101 236 6370 SH
Sole 6370
American International Group COM 026874107 1557 12907 SH
Sole 12907
Automatic Data Processing COM 053015103 3794 91700 SH
Sole 91700
Bank Of America Corp. COM 060505104 1508 21346 SH
Sole 21346
Bell Atlantic Corp. COM 077853109 638 12350 SH
Sole 12350
BellSouth Corp. COM 079860102 349 8712 SH
Sole 8712
Bristol Myers Squibb COM 110122108 4514 70400 SH
Sole 70400
Cardinal Health, Inc. COM 14149Y108 1874 28400 SH
Sole 28400
Chevron COM 166751107 1514 17056 SH
Sole 17056
Cintas Corp. COM 172908105 4276 65400 SH
Sole 65400
Cisco Systems COM 17275R102 5075 46325 SH
Sole 46325
Citigroup Inc. COM 172967101 1622 25400 SH
Sole 25400
Coastal Corp. COM 190441105 680 20600 SH
Sole 20600
Coca-Cola COM 191216100 718 11700 SH
Sole 11700
Colgate - Palmolive COM 194162103 2254 24500 SH
Sole 24500
Compaq Computer Corp. COM 204493100 352 11100 SH
Sole 11100
Computer Associates COM 204912091 267 7500 SH
Sole 7500
Conseco, Inc. COM 208464107 346 11200 SH
Sole 11200
Danaher Corp. COM 235851102 784 15000 SH
Sole 15000
Dell Computer Corp. COM 247025109 335 8200 SH
Sole 8200
Disney Co. COM 254687106 970 31160 SH
Sole 31160
Dollar General COM 256669102 2854 83952 SH
Sole 83952
Du Pont COM 263534109 540 9300 SH
Sole 9300
Emerson Electric COM 291011104 318 6000 SH
Sole 6000
Exxon COM 302290101 2211 31332 SH
Sole 31332
Fannie Mae COM 313586109 3880 56025 SH
Sole 56025
Finova Group, Inc. COM 317928109 2729 52600 SH
Sole 52600
First Union COM 337358105 1601 29960 SH
Sole 29960
Fiserv, Inc. COM 337738108 2906 54200 SH
Sole 54200
GTE Corp. COM 362320103 1204 19900 SH
Sole 19900
General Electric COM 369604103 9315 84200 SH
Sole 84200
Gillette COM 375766102 2788 46900 SH
Sole 46900
HRPT Properties Trust COM 40426W101 335 24800 SH
Sole 24800
Heinz COM 423074103 208 4400 SH
Sole 4400
Home Depot COM 437076102 2732 43890 SH
Sole 43890
Informix Corp. COM 456779107 83 11300 SH
Sole 11300
Innkeepers USA Trust COM 4576J0104 359 38500 SH
Sole 38500
Intel Corp. COM 458140100 3646 30670 SH
Sole 30670
International Business Machine COM 459200101 7179 40500 SH
Sole 40500
Johnson & Johnson COM 478160104 5020 53685 SH
Sole 53685
KLA - Tencor Corp. COM 482480100 243 5000 SH
Sole 5000
Lucent Technologies, Inc. COM 549463107 7109 65824 SH
Sole 65824
McDonalds COM 580135101 317 7000 SH
Sole 7000
Merck COM 589331107 4663 58200 SH
Sole 58200
Microsoft COM 594918104 5624 62750 SH
Sole 62750
Mobil COM 607059102 2739 31120 SH
Sole 31120
Morgan Stanley, Dean Witter Di COM 617446448 4293 42956 SH
Sole 42956
Oracle Systems COM 68389X105 2063 78224 SH
Sole 78224
Pepsico COM 713448108 3076 78500 SH
Sole 78500
Pfizer Inc. COM 717081103 2266 16330 SH
Sole 16330
Procter & Gamble COM 742718109 2850 29100 SH
Sole 29100
SBC Communications COM 78387G103 1374 29116 SH
Sole 29116
Safeway COM 786514208 4526 88200 SH
Sole 88200
Sara Lee COM 803111103 695 28100 SH
Sole 28100
Schering-Plough COM 806605101 901 16300 SH
Sole 16300
Staples Inc. COM 855030102 6461 196525 SH
Sole 196525
Tellabs, Inc. COM 879664100 264 2700 SH
Sole 2700
U.S. Bancorp COM 902973106 1238 36340 SH
Sole 36340
Walgreen COM 931422109 1138 40300 SH
Sole 40300
Warner-Lambert COM 934488107 1780 26870 SH
Sole 26870
Williams Companies, Inc. COM 969457100 849 21500 SH
Sole 21500
Xerox COM 984121103 5856 112350 SH
Sole 112350
Felcor Lodging Tr $1.95 Ser A PRD 31430F200 570 27000 SH
Sole 27000
K-Mart Conv. Pfd. 7.75% PRD 498778208 895 14800 SH
Sole 14800
REPORT SUMMARY 68 DATA RECORDS 150906 0
OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
[/TABLE]
