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 [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Reich & Tang Asset Management L.P.
Address: 600 Fifth Avenue
8th Floor
New York, NY 10020
13F File Number: 28-4818
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: Lorraine C. Hysler
Title: Secretary
Phone: 212-830-5200
Signature, Place, and Date of Signing:
Lorraine C. Hysler New York, New York May 14, 1999
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934.
/s/ Lorraine C. Hysler
- ----------------------
Lorraine C. Hysler
<PAGE>
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 3
Form 13F Information Table Entry Total: 201
Form 13F Information Table Value Total: $1,729,698,000.00
List of Other Included Managers:
No. 13F File Number Name
--- --------------- ----
01 28-5952 Metlife New England Holdings, Inc.
02 28-3714 Metropolitan Life Insurance Company
03 28-1447 Nvest L.P.
<TABLE>
FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
A T & T CORP. com 001957109 434 5442 SH DEFINED 5442
AARON RENTS INC CL A com 002535300 3089 265700 SH DEFINED 265700
AARON RENTS INC COM com 002535201 6147 393400 SH DEFINED 393400
AIR PRODS & CHEMS INC COM com 009158106 516 15064 SH DEFINED 15064
ALBANY INTERNATIONAL COR com 012348108 4757 253698 SH DEFINED 253698
ALBERTO CULVER CO. CLASS A com 013068200 7947 374000 SH DEFINED 374000
ALLEGHENY TELEDYNE INC com 017415100 16921 893500 SH DEFINED 893500
ALLTRISTA CORP COM com 020040101 6427 329600 SH DEFINED 329600
AMERICAN HOME PRODUCTS com 026609107 757 11600 SH DEFINED 11600
AMETEK INC NEW COM com 031100100 3433 188100 SH DEFINED 188100
ANNALY MTG MGMT INC COM com 035710409 115 11500 SH DEFINED 11500
APPLIED MATLS INC COM com 038222105 493 8000 SH DEFINED 8000
APTARGROUP INC COM com 038336103 426 16400 SH DEFINED 16400
ARCH CHEMICALS INC COM com 03937r102 167 10000 SH DEFINED 10000
ARMCO INC COM com 042170100 3627 817400 SH DEFINED 817400
ATCHISON CASTING CORP COM com 046613105 2097 260100 SH DEFINED 260100
B I INCORPORATED COM NEW com 055467203 879 92500 SH DEFINED 92500
BACOU USA INC COM com 056439102 171 13000 SH DEFINED 13000
BALL CORP COM com 058498106 49988 1065000 SH DEFINED 1065000
BALTEK CORP. com 058822107 110 12200 SH DEFINED 12200
BANCTEC INC COM com 059784108 4536 368376 SH DEFINED 368376
BECTON,DICKINSON & CO. com 075887109 6383 166600 SH DEFINED 166600
BELDEN INC COM com 077459105 171 10000 SH DEFINED 10000
BELL INDS INC COM com 078107109 3623 349200 SH DEFINED 349200
BENTON OIL & GAS CO COM com 083288100 74 20300 SH DEFINED 20300
BERKSHIRE HATHAWAY INC DEL com 084670108 714 10 SH DEFINED 10
BF ENTERPRISES INC com 055387104 88 11600 SH DEFINED 11600
BLYTH INDS INC COM com 09643p108 13979 591700 SH DEFINED 591700
BMC INDUSTRIES, INC. com 055607105 656 147800 SH DEFINED 147800
BOSTON BEER INC CL A com 100557107 150 19376 SH DEFINED 19376
BOSTON SCIENTIFIC CORP COM com 101137107 39674 976600 SH DEFINED 976600
BP AMOCO P L C SPONSORED ADR com 055622104 449 4445 SH DEFINED 4445
BRISTOL MEYERS SQUIBB CO COM com 110122108 218 3400 SH DEFINED 3400
BURLINGTON COAT FACTRY COM com 121579106 6419 546300 SH DEFINED 546300
BURLINGTON INDS INC COM com 121693105 32127 4849400 SH DEFINED 4849400
BUSH INDS INC CL A com 123164105 18123 1471950 SH DEFINED 1471950
CALGON CARBON CORP COM com 129603106 960 185000 SH DEFINED 185000
CAPITAL ONE FINL CORP COM com 14040H105 5753 38100 SH DEFINED 38100
CARPENTER TECHNOLOGY COM com 144285103 259 10000 SH DEFINED 10000
CENTRAL NEWSPAPERS INC CL A com 154647101 19607 629950 SH DEFINED 629950
CHAMPION ENTERPRISES COM com 158496109 1841 95000 SH DEFINED 95000
CISCO SYS INC COM com 17275R102 323 2950 SH DEFINED 2950
CITATION CORP ALA COM com 172895104 374 36500 SH DEFINED 36500
CITIGROUP INC COM com 172967101 701 10976 SH DEFINED 10976
CLARCOR INC COM com 179895107 5259 308200 SH DEFINED 308200
COCA COLA CO COM com 191216100 835 13602 SH DEFINED 13602
COMMERCIAL METALS CO COM com 201723103 2350 117500 SH DEFINED 117500
COMMSCOPE INC COM com 203372107 33039 1578000 SH DEFINED 1578000
CONE MLS CORP N C COM com 206814105 9555 1960000 SH DEFINED 1960000
CONSO PRODS CO COM com 20854R105 478 78000 SH DEFINED 78000
CORNING INC. com 219350105 1051 17524 SH DEFINED 17524
CROMPTON & KNOWLES CP COM com 227111101 2016 128000 SH DEFINED 128000
CROWN CRAFTS com 228309100 78 15600 SH DEFINED 15600
DAMES & MOORE GROUP COM com 235713104 9759 872300 SH DEFINED 872300
DANIELSON HLDG CORP COM com 236274106 318 110500 SH DEFINED 110500
DECKERS OUTDOOR CORP COM com 243537107 25 10000 SH DEFINED 10000
DELTA WOODSIDE INDUSTRIES com 247909104 16045 3334000 SH DEFINED 3334000
DENDRITE INTL INC COM com 248239105 14260 639100 SH DEFINED 639100
DEVON ENERGY CORP COM com 251799102 3131 113600 SH DEFINED 113600
DISNEY WALT CO COM com 254687106 224 7200 SH DEFINED 7200
DONNKENNY INC DEL COM com 258006105 139 143000 SH DEFINED 143000
DUFF&PHELPS CR RATING COM com 26432F109 419 8000 SH DEFINED 8000
DUPONT E.I. DE NEMOURS CO com 263534109 996 17160 SH DEFINED 17160
DYERSBURG CORP COM com 267575108 277 177300 SH DEFINED 177300
EASTMAN KODAK CORP. com 277461109 505 7908 SH DEFINED 7908
EEX CORP COM NEW com 26842V207 522 107001 SH DEFINED 107001
ELCOR CORP COM com 284443108 20845 592400 SH DEFINED 592400
ENGELHARD CORP COM com 292845104 2197 129700 SH DEFINED 129700
ETEC SYS INC COM com 26922C103 235 8000 SH DEFINED 8000
EXXON CORP. com 302290101 2416 34238 SH DEFINED 34238
FEDERAL MOGUL CORP COM com 313549107 5562 130100 SH DEFINED 130100
FINOVA GROUP INC COM com 317928109 737 14200 SH DEFINED 14200
FIRST UN CORP COM com 337358105 1956 36610 SH DEFINED 36610
FLOWSERVE CORPORATION com 34354P105 23810 1529988 SH DEFINED 1529988
FOOD LION CL A com 344775200 3476 377700 SH DEFINED 377700
FOOD LION CL B com 344775101 1701 189000 SH DEFINED 189000
FOREST OIL CORP COM NEW com 346091606 2358 314400 SH DEFINED 314400
FRUIT OF THE LOOM LTD ORD CL A com G3682L105 21793 2027300 SH DEFINED 2027300
FURON CO COM com 361106107 5930 469700 SH DEFINED 469700
GARTNER GROUP INC NEW COM com 366651107 25693 1138750 SH DEFINED 1138750
GENCORP INC COM com 368682100 21951 1219500 SH DEFINED 1219500
GENERAL ELECTRIC CORP. com 369604103 871 7876 SH DEFINED 7876
GENERAL NUTRITION COS COM com 37047f103 1231 87900 SH DEFINED 87900
GENERAL SEMICONDUCTOR COM com 370787103 23758 3277000 SH DEFINED 3277000
GENLYTE GROUP INC COM com 372302109 7586 474100 SH DEFINED 474100
GERBER SCIENTIFIC INC COM com 373730100 323 16000 SH DEFINED 16000
GRIFFON CORP COM com 398433102 13195 1919300 SH DEFINED 1919300
GUILFORD MLS INC COM com 401794102 262 30000 SH DEFINED 30000
HARLAND JOHN H CO COM com 412693103 3065 236900 SH DEFINED 236900
HARMAN INTL INDS INC COM com 413086109 28378 772200 SH DEFINED 772200
HARSCO CORPORATION com 415864107 13067 518800 SH DEFINED 518800
HARTE-HANKS INC COM com 416196103 28284 1030862 SH DEFINED 1030862
HIGHLANDS INS GROUP COM com 431032101 945 89500 SH DEFINED 89500
HOME DEPOT INC COM com 437076102 20663 331932 SH DEFINED 331932
HOUGHTON-MIFFLIN CO. com 441560109 820 17500 SH DEFINED 17500
HUSSMANN INTL INC COM com 448110106 10839 738000 SH DEFINED 738000
IBM CORP. com 459200101 463 2613 SH DEFINED 2613
IFR SYSTEMS INC. com 449507102 294 60352 SH DEFINED 60352
IMC GLOBAL INC COM com 449669100 225 11000 SH DEFINED 11000
IMS HEALTH INC COM com 449934108 19090 576300 SH DEFINED 576300
INTERNATIONAL RECTIFIER CORP com 460254105 4171 595800 SH DEFINED 595800
INTERNATIONAL SPECIALTY PROD com 460337108 17594 2326500 SH DEFINED 2326500
J P MORGAN & CO. INC. com 616880100 289 2344 SH DEFINED 2344
JOHNSON & JOHNSON com 478160104 243 2600 SH DEFINED 2600
JONES APPAREL GROUP COM com 480074103 4735 169500 SH DEFINED 169500
JUNO LTG INC COM com 482047107 3444 153500 SH DEFINED 153500
JUSTIN INDS INC COM com 482171105 11858 1078000 SH DEFINED 1078000
KAMAN CORP CL A com 483548103 11794 920500 SH DEFINED 920500
KAYDON CORP COM com 486587108 289 10000 SH DEFINED 10000
KELLOG CO com 487836108 425 12560 SH DEFINED 12560
KENNAMETAL INC COM com 489170100 27460 1558000 SH DEFINED 1558000
KERR-MCGEE CORP. com 492386107 8767 267200 SH DEFINED 267200
KIMCO REALTY CORP. com 49446R109 8283 224614 SH DEFINED 224614
LANCASTER COLONY CORP COM com 513847103 28382 1066000 SH DEFINED 1066000
LEE ENTERPRISES com 523768109 7453 257000 SH DEFINED 257000
LUCENT TECHNOLOGIES COM com 549463107 369 3414 SH DEFINED 3414
MAGNETEK INC COM com 559424106 16106 1923100 SH DEFINED 1923100
MANPOWER INC COM com 56418H100 5061 216500 SH DEFINED 216500
MARSHALL & ILSLEY CORP. com 571834100 554 10000 SH DEFINED 10000
MBIA INC. com 55262C100 20903 360400 SH DEFINED 360400
MBNA CORP COM com 55262L100 36079 1511183 SH DEFINED 1511183
MCDONALDS CORP COM com 580135101 1130 24946 SH DEFINED 24946
MCMORAN EXPLORATION CO COM com 582411104 627 38754 SH DEFINED 38754
MICROSOFT CORP COM com 594918104 307 3430 SH DEFINED 3430
MIKASA INC COM com 59862T109 237 32200 SH DEFINED 32200
MINERALS TECHNOLOGY INC. com 603158106 2904 60500 SH DEFINED 60500
MODIS PROFESSIONAL SVC COM com 607830106 4992 550800 SH DEFINED 550800
MOLEX INC CL A com 608554200 11134 430313 SH DEFINED 430313
MOORE CORP. LTD com 615785102 902 91300 SH DEFINED 91300
MUELLER INDS INC COM com 624756102 14611 653000 SH DEFINED 653000
MUTUAL RISK MGMT LTD COM com 628351108 42713 1109440 SH DEFINED 1109440
NEW YORK TIMES CO CL A com 650111107 756 26526 SH DEFINED 26526
NIELSEN MEDIA RESH INC COM NEW com 653929307 45508 1843362 SH DEFINED 1843362
NINE WEST GROUP INC COM com 65440D102 25255 1023000 SH DEFINED 1023000
O'SULLIVAN INDS HLDGS COM com 688609106 18394 1331700 SH DEFINED 1331700
OEA INC. com 670826106 19803 2400400 SH DEFINED 2400400
OFFICE DEPOT INC COM com 676220106 35833 957150 SH DEFINED 957150
OIL DRI CORP AMER COM com 677864100 641 44000 SH DEFINED 44000
P.H. GLATFELTER CO. com 377316104 11596 1036500 SH DEFINED 1036500
PAXAR CORP COM com 704227107 10829 1456000 SH DEFINED 1456000
PENTON MEDIA INC COM com 709668107 281 12500 SH DEFINED 12500
PFIZER, INC. com 717081103 297 2140 SH DEFINED 2140
PIONEER HI-BRED INT'L com 723686101 470 12500 SH DEFINED 12500
PITNEY BOWES INC COM com 724479100 326 5120 SH DEFINED 5120
POLAROID CORP COM com 731095105 4411 218500 SH DEFINED 218500
POLICY MGMT SYS CORP COM com 731108106 4692 153200 SH DEFINED 153200
PROCTER & GAMBLE CORP. com 742718109 659 6730 SH DEFINED 6730
QUEST DIAGNOSTICS INC COM com 74834L100 3402 152900 SH DEFINED 152900
RAMCO-GERSHENSON PPTYS COM SH com 751452202 1866 117113 SH DEFINED 117113
RAYOVAC CORP COM com 755081106 15989 580100 SH DEFINED 580100
RENAISSANCE RE HLDGS COM com G7496G103 699 20000 SH DEFINED 20000
REXALL SUNDOWN INC COM com 761648104 23971 1249300 SH DEFINED 1249300
REYNOLDS & REYNOLDS CO CL A com 761695105 49993 2631200 SH DEFINED 2631200
RISK CAP HLDGS INC COM com 767711104 1863 123200 SH DEFINED 123200
RITE AID CORP COM com 767754104 23347 933900 SH DEFINED 933900
ROPER INDS INC NEW COM com 776696106 12553 525800 SH DEFINED 525800
SALIENT 3 COMMUNICATNS CL A com 794721100 3383 530637 SH DEFINED 530637
SCHERING - PLOUGH com 806605101 214 3870 SH DEFINED 3870
SCHLUMBERGER LTD COM com 806857108 1053 17500 SH DEFINED 17500
SCHOLASTIC CORP COM com 807066105 9487 194100 SH DEFINED 194100
SCHWEITZER-MAUDUIT COM com 808541106 8113 705500 SH DEFINED 705500
SCOTSMAN INDS INC COM com 809340102 6567 382100 SH DEFINED 382100
SCOTT TECHNOLOGIES INC COM com 810022301 37672 2168200 SH DEFINED 2168200
SERVICEMASTER LTD PART PUB PAR com 81760N109 339 16688 SH DEFINED 16688
SHELDAHL CO COM com 822440103 989 163100 SH DEFINED 163100
SILICON VY BANCSHARES COM com 827064106 26864 1298550 SH DEFINED 1298550
SMITHKLINE BEECHAM PLC ADR REP com 832378301 538 7528 SH DEFINED 7528
SNAP-ON, INC. com 833034101 9692 334200 SH DEFINED 334200
SOFTWARE PUBG CP HLDGS COM NEW com 833979206 12 12000 SH DEFINED 12000
SONOCO PRODS CO COM com 835495102 10904 474078 SH DEFINED 474078
SOUTHERN UN CO NEW COM com 844030106 207 10962 SH DEFINED 10962
SPECIAL METALS CORP COM com 84741Y103 712 146100 SH DEFINED 146100
ST JUDE MED INC COM com 790849103 12400 508700 SH DEFINED 508700
STATE ST BOSTON CORP COM com 857477103 37121 451325 SH DEFINED 451325
STERIS CORP COM com 859152100 666 25000 SH DEFINED 25000
STIMSONITE CORP COM com 860832104 3010 373300 SH DEFINED 373300
SUNDSTRAND com 867323107 7113 102342 SH DEFINED 102342
SUNGLASS HUT INTL INC COM com 86736F106 23146 2204400 SH DEFINED 2204400
TELEFLEX, INC. com 879369106 8556 251200 SH DEFINED 251200
TELXON CORP COM com 879700102 613 65000 SH DEFINED 65000
TEXACO, INC. com 881694103 209 3680 SH DEFINED 3680
TRAVELERS PPTY CAS CL A com 893939108 240 6700 SH DEFINED 6700
TRENWICK GROUP INC COM com 895290104 24286 863500 SH DEFINED 863500
U S INDS INC NEW COM com 912080108 4011 244000 SH DEFINED 244000
UGI CORP NEW COM com 902681105 1001 60000 SH DEFINED 60000
UNISOURCE WORLDWIDE COM com 909208100 24738 3472000 SH DEFINED 3472000
UNIVERSAL FOODS CORP. WISC. com 913538104 11364 551000 SH DEFINED 551000
UNOVA INC COM com 91529B106 25130 1905600 SH DEFINED 1905600
UNUM CORP com 903192102 1427 30000 SH DEFINED 30000
VANZETTI SYSTEMS com 922094107 0 15000 SH DEFINED 15000
VARIAN MED SYS INC COM com 92220P105 49096 1267000 SH DEFINED 1267000
VARIAN SEMICONDUCTOR COM com 922207105 122 10000 SH DEFINED 10000
WAL MART STORES INC COM com 931142103 1719 18650 SH DEFINED 18650
WALTER INDS INC COM com 93317Q105 18998 1688700 SH DEFINED 1688700
WANG LABS INC NEW COM com 93369N109 20855 1062700 SH DEFINED 1062700
WARNER LAMBERT CO COM com 934488107 588 8880 SH DEFINED 8880
WAUSAU-MOSINEE PAPER COM com 943315101 9495 678200 SH DEFINED 678200
WESTINGHOUSE AIR BRAKE COM com 960386100 954 45700 SH DEFINED 45700
YORK INTL CORP NEW COM com 986670107 36955 1046500 SH DEFINED 1046500
YOUNG & RUBICAM INC COM com 987425105 1080 26500 SH DEFINED 26500
QIAGEN NV ORD com N72482107 -204 -3000.0000000SH DEFINED -3000.0000000
</TABLE>
