<PAGE> 1
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SEC USE ONLY
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
INFORMATION REQUIRED OF INSTITUTIONAL INVESTMENT MANAGERS PURSUANT
TO SECTION 13(f) OF THE SECURITIES EXCHANGE ACT OF 1934 AND RULES THEREUNDER
Report for the Calendar Year or Quarter Ended March 31, 1999.
- -------------------------------------------------------------------------------
(Please read instructions before preparing form.)
- -------------------------------------------------------------------------------
If amended report check here: [ ]
Seneca Capital Management
- -------------------------------------------------------------------------------
Name of Institutional Investment Manager
909 Montgomery Street, Suite 500 San Francisco CA 94133
- -------------------------------------------------------------------------------
Business Address (Street) (City) (State) (Zip)
Sandra J. Westhoff 415-677-1597 Chief Operating Officer
- -------------------------------------------------------------------------------
Name, Phone No., and Title of Person Duly Authorized to Submit this Report.
- ----------------------------------ATTENTION------------------------------------
Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
- -------------------------------------------------------------------------------
The institutional investment manager submitting this Form and its
attachments and the person by whom it is signed represent hereby that all
information contained therein is true, correct and complete. It is understood
that all required items, statements and schedules are considered integral parts
of this Form and that the submission of any amendment represents that all
unamended items, statements and schedules remain true, correct and complete as
previously submitted.
Pursuant to the requirements of Securities Exchange Act of 1934, the
undersigned institutional investment manager has caused this report to be signed
on its behalf in the City of San Francisco and State of California on the 31 day
of March , 1999.
Seneca Capital Management LLC
------------------------------------------
(Name of Institutional Investment Manager)
/s/ Sandra J. Westhoff
------------------------------------------
(Manual Signature of Person Duly
Authorized to Submit This Report)
Name and 13F file numbers of ALL Institutional Investment Managers with respect
to which this schedule is filled (other than the one filing this report):
(List in alphabetical order).
13F File Numbers will be assigned to Institutional Investment Managers after
they file their first report.
Name: 13F File No.
- -------------------------------------------- ------------
1. Seneca Capital Management LLC 28-6450
- -------------------------------------------- ------------
2. Phoenix Investment Partners, Ltd.
- -------------------------------------------- ------------
3. Phoenix Home Life Mutual Ins. Co.
- -------------------------------------------- ------------
4.
- -------------------------------------------- ------------
5.
- -------------------------------------------- ------------
6.
- -------------------------------------------- ------------
7.
- -------------------------------------------- ------------
8.
- -------------------------------------------- ------------
9.
- -------------------------------------------- ------------
10.
- -------------------------------------------- ------------
SEC 1685 (5/91)
<PAGE> 2
FORM 13F
---------------------
(SEC USE ONLY)
---------------------
Page 1 of 3 Name of Reporting Manager Seneca Capital Management
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<TABLE>
<CAPTION>
ITEM 5:
ITEM 3: ITEM 4: Shares of
ITEM 1: ITEM 2: CUSIP Fair Market Principle
Name of Issuer Title of Class Number Value Amount
<S> <C> <C> <C> <C>
- ----------------------------------------------------------------------------------------
Archstone Communities Trust Common 039581103 2004148.12 99,685
Stock
- ----------------------------------------------------------------------------------------
Arden Realty Group Inc. Common 039793104 689750.00 31,000
Stock
- ----------------------------------------------------------------------------------------
Avalon Bay Communities, Inc. Common 053469102 1410791.64 44,260
Stock
- ----------------------------------------------------------------------------------------
Bedford Property Investors Common 076446301 1001812.50 68,500
Stock
- ----------------------------------------------------------------------------------------
Berkshire Realty Co Common 084710102 593496.87 53,050
Stock
- ----------------------------------------------------------------------------------------
Boston Properties Common 1011211101 989862.50 31,300
Stock
- ----------------------------------------------------------------------------------------
Capital Trust Common 140920109 269100.00 55,200
Stock
- ----------------------------------------------------------------------------------------
Catellus Common 149111106 428000.00 32,000
Stock
- ----------------------------------------------------------------------------------------
Chateau Properties Inc. Common 161726104 1278750.00 46,500
Stock
- ----------------------------------------------------------------------------------------
Cornerstone Properties Common 21922H103 1594125.00 109,000
Stock
- ----------------------------------------------------------------------------------------
Crescent Real Estate Equaties Common 225756105 1305050.00 60,700
Stock
- ----------------------------------------------------------------------------------------
Developers Div Rllty Common 251591103 1063418.75 74,300
Stock
- ----------------------------------------------------------------------------------------
Duke Realty Common 264411505 1505000.00 70,000
Stock
- ----------------------------------------------------------------------------------------
Entertainment Property Trust Common 29380T105 414000.00 24,000
Stock
- ----------------------------------------------------------------------------------------
COLUMN TOTALS
- ----------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
ITEM 6: ITEM 8:
INVESTMENT DISCRETION Voting Authority (SHARES)
---------------------------------- ITEM 7: ------------------------------------
(b) Shared- Managers
ITEM 1: (a) Sole As Defined (c) Shared- See Instr. V (a) Sole (b) Shared (c) None
Name of Issuer in Instr. V Other
<S> <C> <C> <C> <C> <C> <C> <C>
- --------------------------------------------------------------------------------------------------------------------------
Archstone Communities Trust 2 99,685
- --------------------------------------------------------------------------------------------------------------------------
Arden Realty Group Inc. 2 31,000
- --------------------------------------------------------------------------------------------------------------------------
Avalon Bay Communities, Inc. 2 44,260
- --------------------------------------------------------------------------------------------------------------------------
Bedford Property Investors 2 68,500
- --------------------------------------------------------------------------------------------------------------------------
Berkshire Realty Co 2 53,050
- --------------------------------------------------------------------------------------------------------------------------
Boston Properties 2 31,300
- --------------------------------------------------------------------------------------------------------------------------
Capital Trust 2 55,200
- --------------------------------------------------------------------------------------------------------------------------
Catellus 2 32,000
- --------------------------------------------------------------------------------------------------------------------------
Chateau Properties Inc. 2 46,500
- --------------------------------------------------------------------------------------------------------------------------
Cornerstone Properties 2 109,000
- --------------------------------------------------------------------------------------------------------------------------
Crescent Real Estate Equaties 2 60,700
- --------------------------------------------------------------------------------------------------------------------------
Developers Div Rllty 2 74,300
- --------------------------------------------------------------------------------------------------------------------------
Duke Realty 2 70,000
- --------------------------------------------------------------------------------------------------------------------------
Entertainment Property Trust 2 24,000
- --------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS
- --------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 3
FORM 13F
---------------------
(SEC USE ONLY)
---------------------
Page 2 of 3 Name of Reporting Manager Seneca Capital Management
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
ITEM 5:
ITEM 3: ITEM 4: Shares of
ITEM 1: ITEM 2: CUSIP Fair Market Principal
Name of Issuer Title of Class Number Value Amount
- ----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Equity Office Properties Common 294741103 1984325.00 78,200
Stock
- ----------------------------------------------------------------------------------------
Equity Residential Properties Common 2476L107 1922250.00 46,600
Stock
- ----------------------------------------------------------------------------------------
Essex Property Trust Common 297178105 2037750.00 78,000
Stock
- ----------------------------------------------------------------------------------------
Felcor Lodging Trust Inc. Common 314305103 665481.25 28,700
Stock
- ----------------------------------------------------------------------------------------
First Industrial Realty Trust Common 32054K103 1139425.00 47,600
Inc. Stock
- ----------------------------------------------------------------------------------------
Glenborough Realty Trust Pf.A Common 37803P204 84671250 50,550
Stock
- ----------------------------------------------------------------------------------------
Macerich Co Common 554382101 1440656.25 63,500
Stock
- ----------------------------------------------------------------------------------------
Mack-Cali Realty Corp. Common 554489104 1515750.00 51,600
Stock
- ----------------------------------------------------------------------------------------
Manufactured Home Common 564682102 1764000.00 73,500
Communities Inc. Stock
- ----------------------------------------------------------------------------------------
MeriStar Hospitality Common 58984Y103 685905.19 37,713
Corporation Stock
- ----------------------------------------------------------------------------------------
Northstar Financial Common 67704F205 480000.00 30,000
Stock
- ----------------------------------------------------------------------------------------
Pacific Gulf PPTY Common 694396102 948600.00 52,700
Stock
- ----------------------------------------------------------------------------------------
Patriot American Hospitality Common 703353102 829028.44 161,762
Stock
- ----------------------------------------------------------------------------------------
Prentiss Properties Trust Common 740706106 1387500.00 74,000
Stock
- ----------------------------------------------------------------------------------------
COLUMN TOTALS
- ----------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
ITEM 6: ITEM 8:
INVESTMENT DISCRETION Voting Authority (Shares)
--------------------------------- ITEM 7: ------------------------------------
(b) Shared- Managers
ITEM 1: (a) Sole As Defined (c) Shared- See Instr. V (a) Sole (b) Shared (c) None
Name of Issuer in Instr. V Other
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Equity Office Properties 2 78,200
- ------------------------------------------------------------------------------------------------------------------------
Equity Residential Properties 2 46,600
- ------------------------------------------------------------------------------------------------------------------------
Essex Property Trust 2 78,000
- ------------------------------------------------------------------------------------------------------------------------
Felcor Lodging Trust Inc. 2 28,700
- ------------------------------------------------------------------------------------------------------------------------
First Industrial Realty Trust 2 47,600
Inc.
- ------------------------------------------------------------------------------------------------------------------------
Glenborough Realty Trust Pf.A 2 50,550
- ------------------------------------------------------------------------------------------------------------------------
Macerich Co 2 63,500
- ------------------------------------------------------------------------------------------------------------------------
Mack-Cali Realty Corp. 2 51,600
- ------------------------------------------------------------------------------------------------------------------------
Manufactured Home 2 73,500
Communities Inc.
- ------------------------------------------------------------------------------------------------------------------------
MeriStar Hospitality 2 37,713
Corporation
- ------------------------------------------------------------------------------------------------------------------------
Northstar Financial 2 30,000
- ------------------------------------------------------------------------------------------------------------------------
Pacific Gulf PPTY 2 52,700
- ------------------------------------------------------------------------------------------------------------------------
Patriot American Hospitality 2 161,762
- ------------------------------------------------------------------------------------------------------------------------
Prentiss Properties Trust 2 74,000
- ------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 4
FORM 13F
---------------------
(SEC USE ONLY)
---------------------
Page 3 of 3 Name of Reporting Manager Seneca Capital Management
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Item 5:
Item 3: Item 4: Shares of
Item 1: Item 2: CUSIP Fair Market Principal
Name of Issuer Title of Class Number Value Amount
- ----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Reckson Associates Preferred Common 75621K205 675234.37 33,500
A Stock
- ----------------------------------------------------------------------------------------
Simon Property Group, Inc. Common 828781104 1514550.00 55,200
Stock
- ----------------------------------------------------------------------------------------
Spieker Properties Inc. Common 848497103 2273625.00 64,500
Stock
- ----------------------------------------------------------------------------------------
Starwood Hotels & Resorts Common 855905204 1405275.00 49,200
Stock
- ----------------------------------------------------------------------------------------
Sunstone Hotel Invs Inc. Common 867933103 586068.75 81,540
Stock
- ----------------------------------------------------------------------------------------
Trinet Corp Realty Trust Common 896287103 913500.00 36,000
Stock
- ----------------------------------------------------------------------------------------
Urban Shopping Centers, Inc. Common 929248108 1517568.78 52,900
Stock
- ----------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------
COLUMN TOTALS
- ----------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Item 6: Item 8:
Investment Discretion Voting Authority (Shares)
- ---------------------------------- ------------------------------------
Item 7:
(b) Shared- Managers
(a) Sole As Defined (c) Shared- See Instr. V (a) Sole (b) Shared (c) None
in Instr. V Other
- ----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
2 33,500
- ----------------------------------------------------------------------------------------
2 65,200
- ----------------------------------------------------------------------------------------
2 64,500
- ----------------------------------------------------------------------------------------
2 49,200
- ----------------------------------------------------------------------------------------
2 81,540
- ----------------------------------------------------------------------------------------
2 36,000
- ----------------------------------------------------------------------------------------
2 52,900
- ----------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------
COLUMN TOTALS
- ----------------------------------------------------------------------------------------
SEC 1685 (5/91)
</TABLE>
<PAGE> 5
FORM 13F
Seneca Cap Mgt.
March 31, 1999
<TABLE>
<CAPTION>
Security Title CUSIP Market Value Quantity Sole Share Other Sole Share None
of Investment Managers Voting
Class Discretion Authority
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON STOCK
A T & T Corp COM 001957109 $12,633,839.87 158,294 2 158294
ADC Telecommunciations COM 000886101 $20,362,562.50 427,000 2 427000
Abercrombie & Fitch Co
Class A COM 002896207 $21,581,887.50 233,950 2 233950
Adaptec Inc COM 00651F108 $2,737,500.00 120,000 2 120000
Adolph Coors Cl B COM 217016104 $27,673,650.00 512,475 2 512475
Alpharma Inc Cl A COM 020813101 $21,249,950.00 541,400 2 541400
Altera Corp COM 021441100 $4,325,650.00 72,700 2 72700
Alza Corp COM 022615108 $1,912,500.00 50,000 2 50000
America Online COM 02364J104 $6,932,520.00 47,160 2 47160
American Express Co COM 025816109 $1,003,230.00 8,520 2 8520
American International
Group COM 026874107 $17,844,237.19 147,931 2 147931
American Power Conversion COM 029066107 $2,227,500.00 82,500 2 82500
American Tower Corp Cl A COM 029912201 $28,151,725.00 1,149,050 2 1149050
Amsouth Bancorporation COM 032165102 $1,415,050.00 31,100 2 31100
Anheuser Busch Cos Inc. COM 035229103 $69,153,777.00 908,424 2 908424
Annuity and Life Reit COM G03910109 $16,088,902.50 703,340 2 703340
Automatic Data Processing COM 053015103 $9,362,335.00 226,280 2 226280
Bank America Corp COM 06605f102 $11,389,270.00 161,264 2 161264
Bell Atlantic Corp COM 077853109 $49,148,610.00 950,880 2 950880
BellSouth Corp COM 079860102 $805,256.25 20,100 2 20100
Best Buy Co Inc COM 086516101 $12,277,200.00 236,100 2 236100
Biogen Inc COM 090597105 $3,429,375.00 30,000 2 30000
Biomet Inc COM 090613100 $3,145,312.50 75,000 2 75000
Bristol Myers Squibb Co COM 110122108 $66,356,806.50 1,034,804 2 1034804
Broadcom Corp-Cl A COM 111320107 $2,095,250.00 34,000 2 34000
</TABLE>
<PAGE> 6
FORM 13F
Seneca Cap Mgt.
March 31, 1999
<TABLE>
<CAPTION>
Security Title CUSIP Market Value Quantity Sole Share Other Sole Share None
of Investment Managers Voting
Class Discretion Authority
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Cardinal Health Inc COM 14149Y108 $56,084,952.00 849,772 2 849772
Caterpillar Inc COM 149123101 $303,187.50 6,600 2 6600
Centocor Inc COM 152342101 $26,660,379.37 721,770 2 721770
Chancellor Media Cl A COM 158915108 $68,283,559.50 1,448,988 2 1448988
Charles Schwab Corp New COM 808513105 $22,337,094.94 232,375 2 232375
Chase Manhattan Corp New COM 16161A108 $651,000.00 8,000 2 8000
Cisco Systems Inc COM 17275R102 $50,854,803.91 464,162 2 464162
Citigroup Inc COM 172967101 $83,846,349.12 1,312,663 2 1312663
Citrix Systems Inc COM 177376100 $22,576,862.50 592,180 2 592180
Clear Channels
Communications Inc COM 184502102 $1,005,937.50 15,000 2 15000
Colgate-Palmolive Co COM 194162103 $41,070,732.00 446,421 2 446421
Comerica Inc COM 200340107 $38,189,896.87 611,650 2 611650
Compaq Computer COM 204493100 $753,370.31 23,775 2 23775
Compuware Corp COM 205638109 $2,020,063.75 84,610 2 84610
Concentric Network Corp COM 20589R107 $3,737,500.00 50,000 2 50000
Costco Companies Inc COM 22160Q102 $6,867,187.50 75,000 2 75000
Cox Communications Inc -
Cl A COM 224044107 $3,025,000.00 40,000 2 40000
Cox Radio Inc - Cl A COM 224051102 $1,347,875.00 26,300 2 26300
Crown Castle Int'l Corp COM 228227104 $14,226,480.00 790,360 2 790360
Dell Computer Corp COM 247025109 $15,182,691.75 371,442 2 371442
Dollar Tree Stores Inc COM 256747106 $5,874,876.56 189,895 2 189895
Donaldson Lufkin & Jenrette COM 257661108 $35,661,780.00 511,280 2 511280
Dycom Industries COM 267475101 $6,525,000.00 150,000 2 150000
E M C Corp Mass COM 268648102 $66,232,626.25 518,455 2 518455
E Trade Group Inc COM 269246104 $1,166,250.00 20,000 2 20000
Eastman Kodak Co COM 277461109 $427,962.50 6,700 2 6700
Elan Corp Plc Adr COM 284131208 $66,428,505.00 952,380 2 952380
</TABLE>
<PAGE> 7
FORM 13F
Seneca Cap Mgt.
March 31, 1999
<TABLE>
<CAPTION>
Security Title CUSIP Market Value Quantity Sole Share Other Sole Share None
of Investment Managers Voting
Class Discretion Authority
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Emerson Electric Co COM 291011104 $4,969,772.50 93,880 2 93880
Endocardial Solutions Inc COM 292962107 $289,080.00 32,120 2 32120
Enron Corp COM 293561106 $1,648,012.50 25,650 2 25650
Ethan Allen Interior Inc COM 297602104 $2,078,125.00 50,000 2 50000
Exxon Corp COM 302290101 $363,396.87 5,150 2 5150
Firstar Corp COM 33763V109 $206,745.00 2,310 2 2310
Flextronics International
Ltd COM Y2573F102 $2,682,600.00 52,600 2 52600
Gap Inc COM 364760108 $14,915,978.81 221,593 2 221593
General Electric Co COM 369604103 $69,403,138.12 627,373 2 627373
General Mills Inc COM 370334104 $32,954,317.50 436,120 2 436120
General Motors Corp COM 370442105 $2,253,300.00 25,900 2 25900
Georgia Pacific Corp COM 373298108 $22,653,675.00 305,100 2 305100
Guidant Corp COM 401698105 $13,683,406.00 226,172 2 226172
Hewlett Packard Co COM 428236103 $6,442,187.50 95,000 2 95000
ITC Deltacom Inc. COM 45031T104 $1,963,125.00 90,000 2 90000
Intel Corp COM 458140100 $65,130,899.25 547,894 2 547894
International Business
Machines COM 459200101 $65,232,785.75 368,027 2 368027
International Integration
Inc. COM 459698106 $8,062,400.00 251,950 2 251950
International Paper Company COM 460146103 $776,250.00 18,400 2 18400
Intuit Inc COM 461202103 $2,543,750.00 25,000 2 25000
KLA-Tencor Corporation COM 482480100 $2,913,750.00 60,000 2 60000
Keebler Foods Co COM 487256109 $24,959,065.00 683,810 2 683810
Lamar Advertising Co COM 512815101 $18,003,165.00 530,480 2 530480
Lexmark Intl Group Inc Cl A COM 529771107 $2,796,875.00 25,000 2 25000
Lilly (Eli) & Co COM 532457108 $14,127,019.37 166,445 2 166445
Linear Technology Corp COM 535678106 $5,125,000.00 100,000 2 100000
Linens N Things Inc COM 535679104 $1,724,250.00 38,000 2 38000
</TABLE>
<PAGE> 8
FORM 13F
Seneca Cap Mgt.
March 31, 1999
<TABLE>
<CAPTION>
Security Title CUSIP Market Value Quantity Sole Share Other Sole Share None
of Investment Managers Voting
Class Discretion Authority
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Lucent Technologies Inc COM 549463107 $67,846,680.00 628,210 2 628210
MCI WorldCom Inc COM 55268B106 $64,747,600.94 731,095 2 731095
Maytag Corp COM 578592107 $11,558,974.87 191,453 2 191453
McKesson HBOC Corp COM 58155Q103 $45,179,112.00 684,532 2 684532
Medimmune Inc COM 584699102 $8,274,412.50 139,800 2 139800
Medtronic Inc COM 585055106 $545,702.67 7,592 2 7592
Mellon National Bank COM 585509102 $66,914,661.25 950,830 2 950830
Merck & Co COM 589331107 $607,347.50 7,580 2 7580
Metronet Communications -
Cl B COM 59169Y108 $1,650,000.00 30,000 2 30000
Micron Technolgy Inc COM 595112103 $28,321,721.25 587,740 2 587740
Microsoft Corp COM 594918104 $98,708,493.75 1,101,350 2 1101350
Mobil Corp COM 607059102 $12,440,384.00 141,368 2 141368
Morgan Stanley Dean Witter
& Co COM 617446448 $66,121,648.12 661,630 2 661630
Motorola Inc COM 620076109 $70,733,130.00 965,640 2 965640
Mylan Labs COM 628530107 $30,159,300.00 1,099,200 2 1099200
Northern Telecom LTD COM 665815106 $1,553,125.00 25,000 2 25000
Northern Trust Corp COM 665859104 $32,277,126.87 363,430 2 363430
Omnicare Inc COM 681904108 $271,640.62 14,250 2 14250
Outdoor Systems Inc COM 690057104 $ 106,813,762.50 3,560,459 2 3560459
Pepsico Inc COM 713448108 $3,487,295.62 88,990 2 88990
Pinnacle Holdings Inc COM 72346N101 $5,293,750.00 350,000 2 350000
Pitney Bowes Inc COM 724479100 $46,973,550.00 736,840 2 736840
Procter & Gamble Co COM 742718109 $10,372,364.75 105,908 2 105908
Providian Financial Corp COM 74406a102 $ 103,835,600.00 943,960 2 943960
Qualcomm Inc COM 747525103 $4,353,125.00 35,000 2 35000
RF Micro Devices Inc COM 749941100 $30,687,938.12 320,710 2 320710
S & P 400 Mid-Cap
Depository Receipts COM 595635103 $10,158,630.00 147,360 2 147360
</TABLE>
<PAGE> 9
FORM 13F
Seneca Cap Mgt.
March 31, 1999
<TABLE>
<CAPTION>
Security Title CUSIP Market Value Quantity Sole Share Other Sole Share None
of Investment Managers Voting
Class Discretion Authority
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
S & P Depository Receipt COM 78462F103 $7,941,277.50 61,860 2 61860
SBC Communications Inc COM 78387G103 $39,999,428.12 847,670 2 847670
SFX Entertainment Inc COM 784178105 $38,478,604.37 595,990 2 595990
Safeway Inc COM 786514208 $755,320.00 14,720 2 14720
Siebel Systems Inc COM 826170102 $4,156,250.00 87,500 2 87500
Staples Inc COM 855030102 $91,655,730.12 2,788,007 2 2788007
Sun Microsystems Inc COM 866810104 $71,370,042.19 570,675 2 570675
TJX Companies Inc New COM 872540109 $79,033,714.00 2,324,521 2 2324521
Tellabs Inc COM 879664100 $3,910,000.00 40,000 2 40000
Texas Instruments Inc COM 882508104 $47,276,745.00 476,340 2 476340
Thomas and Betts Corp COM 884315102 $1,626,831.87 43,310 2 43310
Tyco Int'l Ltd COM 902124106 $58,474,097.50 814,970 2 814970
Unionbancal Corporation COM 908906100 $27,830,765.62 817,050 2 817050
Uniphase Corp COM 909149106 $19,887,843.75 172,750 2 172750
United Technologies Corp COM 913017109 $25,370,152.50 187,320 2 187320
Usweb Corp COM 917327108 $21,365,437.50 517,950 2 517950
Verisign Inc COM 92343E102 $7,370,440.00 47,860 2 47860
Veritas Software Corp COM 923436109 $40,263,161.25 498,615 2 498615
Visio Corp COM 927914101 $1,406,250.00 50,000 2 50000
Walmart Stores Inc COM 931142103 $54,555,364.06 591,787 2 591787
Watson Pharmaceuticals Inc COM 942683103 $3,530,000.00 80,000 2 80000
Whitman Corp COM 96647k102 $20,715,234.37 1,205,250 2 1205250
Xerox Corp COM 984121103 $242,381.25 4,650 2 4650
Xilinx Inc COM 983919101 $45,124,158.75 1,112,460 2 1112460
$3,084,774,196.95
</TABLE>
<PAGE> 10
FORM 13F
Seneca Cap Mgt.
March 31, 1999
<TABLE>
<CAPTION>
Security Title CUSIP Market Value Quantity Sole Share Other Sole Share None
of Investment Managers Voting
Class Discretion Authority
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
PREFERRED STOCK - EQUITY
Equity Residential cv7 1/4
Series G 29476l859 $215,000.00 10,000 2 10000
$215,000.00
GRAND TOTAL $3,084,989,196.95
</TABLE>
<PAGE> 11
Seneca Capital Management
Dean Witter WRAP Account Report: 13F
As of: 3/31/99
<TABLE>
<CAPTION>
NON VOTING VOTING
SECURITY CUSIP SYMBOL UNITS # Accts Market Value UNITS # Accounts Market Value
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ADOBE SYSTEMS 00724F101 ADBE 0 0 $- 60 1 $3,405.00
AIR PROD & CHEM INC 9158106 APD 0 0 $- 50 1 $1,713.00
AIRTOUCH COMMUNICATIONS DE 00949T100 ATI 0 0 $- 20 1 $1,933.00
ALLTEL CORP DE 20039103 AT 0 0 $- 30 1 $1,871.00
AMERICA ONLINE INC 02364J104 AOL 0 0 $- 70 1 $10,290.00
AMERICAN EXPRESS CO 25816109 AXP 730 2 $85,958.00 1,088 20 $128,116.00
AMERICAN INTERNATIONAL GP 26874107 AIG 944 2 $113,870.00 1,842 30 $222,195.00
ANHEUSER BUSCH COS INC 35229103 BUD 7,015 59 $534,022.00 28,635 331 $2,179,855.00
ASSOCIATES FIRST CAP CP A 46008108 AFS 0 0 $- 40 1 $1,800.00
AT&T CORPORATION 1957109 T 1,155 2 $92,184.00 2,305 30 $183,973.00
AUTOMATIC DATA PROCESSING INC 53015103 AUD 1,830 2 $75,717.00 3,700 31 $153,091.00
AVNET INC 53807103 AVT 0 0 $- 65 1 $2,389.00
BANK ONE CORP 06423A103 ONE 0 0 $- 60 1 $3,304.00
BANKAMERICA CORP NEW 06605F102 BAC 1,051 2 $74,227.00 1,962 27 $138,567.00
BED BATH & BEYOND INC 75896100 BBBY 0 0 $- 60 1 $2,190.00
BELL ATLANTIC CORP 77853109 BEL 7,600 60 $392,828.00 31,652 307 $1,636,021.00
BMC SOFTWARE 55921100 BMCS 0 0 $- 30 1 $1,112.00
BRISTOL MYERS SQUIBB CO 110122108 BMY 8,590 59 $550,846.00 33,654 331 $2,158,129.00
BTR SIEBE PLC SP ADR 11776R109 BTSBY 0 0 $- 288 1 $2,564.00
BURLINGTON NO SANTA FE CP 12189T104 BNI 0 0 $- 90 1 $2,959.00
CADENCE DESIGN SYSTEM 127387108 CDN 0 0 $- 85 1 $2,189.00
CARDINAL HEALTH INC 14149Y108 CAH 7,377 62 $486,882.00 26,806 336 $1,769,196.00
CHANCELLOR MEDIA CORP 158915108 AMFM 9,795 59 $461,588.00 38,317 331 $1,805,696.00
CHARLES SCHWAB NEW 808513105 SCH 2,445 2 $235,026.00 3,955 28 $380,176.00
CHASE MANHATTAN CORP NEW 16161A108 CMB 0 0 $- 45 1 $3,662.00
CIGNA CP 125509109 CI 0 0 $- 43 1 $3,604.00
CISCO SYS INC 17275R102 CSCO 3,259 62 $357,056.00 12,353 335 $1,353,407.00
CITIGROUP INC 172967101 C 9,877 59 $630,895.00 38,746 331 $2,474,916.00
CITRIX SYSTEMS INC 177376100 CTXS 100 1 $3,813.00 480 4 $18,301.00
</TABLE>
<PAGE> 12
Seneca Capital Management
Dean Witter WRAP Account Report: 13F
As of: 3/31/99
<TABLE>
<CAPTION>
NON VOTING VOTING
SECURITY CUSIP SYMBOL UNITS # Accts Market Value UNITS # Accounts Market Value
<S> <C> <C> <C> <C> <C> <C> <C> <C>
CKE RESTAURANTS INCORPORATED 1.26E+109 CKR 0 0 $- 104 1 $2,054.00
CLEAR CHANNEL COMMUNICATION 184502102 CCU 0 0 $- 30 1 $2,012.00
CLOROX CO DE 189054109 CLX 0 0 $- 10 1 $1,172.00
COLGATE PALMOLIVE CO 194162103 CL 5,398 53 $496,616.00 19,656 282 $1,808,352.00
COMPAQ COMPUTER CORP 204493100 CPQ 0 0 $- 90 1 $2,852.00
COMPUTER ASSOC INTL INC 204912109 CA 0 0 $- 80 1 $2,845.00
COMPUTER SCIENCES CP 205363104 CSC 0 0 $- 20 1 $1,104.00
COMPUWARE CORP 205638109 CPWR 110 1 $2,626.00 460 3 $10,982.00
CONSECO INC 208464107 CNC 0 0 $- 85 1 $2,624.00
COSTCO COMPANIES INC 2216002 COST 0 0 $- 55 1 $5,036.00
COUNTRYWIDE CREDIT INDS DEL 222372104 CCR 0 0 $- 60 1 $2,250.00
CRESCENT REAL EST EQUITIES CO 225756105 CEI 0 0 $- 70 1 $1,505.00
CSX CORP 126408103 CSX 0 0 $- 50 1 $1,947.00
CVS CORPORATION 126650100 CVS 0 0 $- 90 1 $4,275.00
DAL-TILE INTL INC 23426R108 DTL 0 0 $- 17 1 $154.00
DELL COMPUTER CORP 247025109 DELL 2,140 2 $87,473.00 4,580 29 $187,214.00
DELTA AIRLINES 247361108 DAL 0 0 $- 40 1 $2,780.00
DOCUMENTUM INC 256159104 DCTM 85 1 $1,472.00 360 3 $6,233.00
DUKE REALTY INV INC COM NEW 264411505 DRE 0 0 $- 90 1 $1,935.00
ELAN PLC ADR 284131208 ELN 5,485 56 $382,596.00 23,170 299 $1,616,185.00
ELI LILLY & CO 532457108 LLY 770 2 $65,354.00 1,613 29 $136,905.00
EMC CORP MASS 268648102 EMC 4,080 60 $521,229.00 16,735 306 $2,137,938.00
EMERSON ELECTRIC CO 291011104 EMR 0 0 $- 45 1 $2,382.00
ENRON CORP 293561106 ENE 0 0 $- 20 1 $1,285.00
EXXON CORP 302290101 XON 50 1 $3,528.00 175 2 $12,348.00
FANNIE MAE 313586109 FNM 0 0 $- 70 1 $4,848.00
FIRST UNION CORP 337358105 FTU 0 0 $- 50 1 $2,672.00
FIRSTAR CORP (NEW) 33763V109 FSR 0 0 $- 15 1 $1,343.00
FLEET FINANCIAL GROUP INC NEW 338915101 FLT 0 0 $- 60 1 $2,258.00
FREDDIE MAC 313400301 FRE 0 0 $- 30 1 $1,719.00
</TABLE>
<PAGE> 13
Seneca Capital Management
Dean Witter WRAP Account Report: 13F
As of: 3/31/99
<TABLE>
<CAPTION>
NON VOTING VOTING
SECURITY CUSIP SYMBOL UNITS # Accts Market Value UNITS # Accounts Market Value
<S> <C> <C> <C> <C> <C> <C> <C> <C>
GAP INC 364760108 GPS 1,454 2 $97,873.00 2,934 28 $197,493.00
GENERAL ELECTRIC CO 369604103 GE 5,075 62 $561,427.00 19,254 334 $2,130,007.00
GENERAL MILLS INC 370334104 GIS 3,190 56 $241,047.00 13,620 301 $1,029,173.00
GEORGIA-PAC (GEORGIA PAC GP) 373298108 GP 1,900 56 $141,082.00 8,255 290 $612,965.00
GOLDEN STATE BANCORP INC 381197102 GSB 0 0 $- 3 1 $67.00
GTE CORP 362320103 GTE 0 0 $- 45 1 $2,723.00
HOME DEPOT INC 437076102 HD 0 0 $- 35 1 $2,179.00
ICN PHARMACEUTICALS INC NEW 448924100 ICN 0 0 $- 100 1 $2,513.00
INFINITY BROADCASTING CP A NEW 45662S102 INF 0 0 $- 55 1 $1,416.00
INGERSOLL RAND 456866102 IR 0 0 $- 45 1 $2,233.00
INT'L NETWORK SERVICES 460053101 INSS 55 1 $3,847.00 225 3 $15,736.00
INTEL CORP 458140100 INTC 4,385 58 $521,262.00 16,795 329 $1,996,523.00
INTL BUSINESS MACHINES CORP 459200101 IBM 3,255 61 $576,951.00 12,467 334 $2,209,790.00
JEFFERSON-PILOT 7.25 ACESCV 475070207 NBX 0 0 $- 50 1 $5,850.00
KENNAMETAL INC 489170100 KMT 0 0 $- 60 1 $1,058.00
KOHLS CORPORATION WISC 500255104 KSS 0 0 $- 90 1 $6,379.00
KROGER CO 501044101 KR 0 0 $- 60 1 $3,593.00
LAMAR ADVERTISING CO CL A 512815101 LAMR 2,325 40 $78,902.00 9,525 207 $323,243.00
LINEAR TECHNOLOGY CORPORATION 535678106 LLTC 0 0 $- 40 1 $2,050.00
LOCKHEED MARTIN CORP 539830109 LMT 0 0 $- 60 1 $2,265.00
LOWES COMPANIES INC 548661107 LOW 0 0 $- 70 1 $4,235.00
LUCENT TECHNOLOGIES 549463107 LU 4,240 58 $457,920.00 16,823 332 $1,816,884.00
MASCO CORP 574599106 MAS 1,590 2 $44,918.00 3,935 26 $111,171.00
MAY DEPARTMENT STORES 577778103 MAY 0 0 $- 75 1 $2,934.00
MAYTAG CORP 578592107 MYG 1,165 2 $70,337.00 2,265 28 $136,755.00
MBNA CORP 55262L100 KRB 0 0 $- 143 1 $3,414.00
MC GRAW HILL COS INC 580645109 MHP 0 0 $- 30 1 $1,635.00
MCI WORLDCOM INC 55268B106 WCOM 5,410 61 $479,134.00 18,559 334 $1,643,674.00
MCKESSON HBOC INC 58155Q103 MCK 6,347 57 $418,902.00 24,215 326 $1,598,190.00
MEDTRONIC INC 585055106 MDT 0 0 $- 70 1 $5,031.00
</TABLE>
<PAGE> 14
Seneca Capital Management
Dean Witter WRAP Account Report: 13F
As of: 3/31/99
<TABLE>
<CAPTION>
NON VOTING VOTING
SECURITY CUSIP SYMBOL UNITS # Accts Market Value UNITS # Accounts Market Value
<S> <C> <C> <C> <C> <C> <C> <C> <C>
MELLON BANK CORP 585509102 MEL 7,045 59 $495,801.00 29,205 305 $2,055,347.00
MERRILL LYNCH & CO INC 590188108 MER 0 0 $- 44 1 $3,894.00
MICROSOFT CORP 594918104 MSFT 7,850 58 $703,558.00 30,386 330 $2,723,373.00
MOBIL CORP DELAWARE 607059102 MOB 1,010 2 $88,880.00 2,075 28 $182,600.00
MORGAN STNLY DEAN WITTER & CO 617446448 MWD 4,515 56 $451,222.00 16,580 300 $1,656,995.00
MOTOROLA INC 620076109 MOT 7,215 58 $528,513.00 28,574 330 $2,093,123.00
NEVADA POWER 641423108 NVP 0 0 $- 400 1 $9,900.00
NOKIA CP ADR 654902204 NOKA 0 0 $- 35 1 $5,451.00
OFFICE DEPOT 676220106 ODP 0 0 $- 25 1 $936.00
ORACLE CORP 68389X105 ORCL 0 0 $- 45 1 $1,187.00
OUTDOOR SYSTEMS INC 690057104 OSI 15,838 62 $475,140.00 62,094 334 $1,862,820.00
PAYCHEX INC 704326107 PAYX 0 0 $- 57 1 $2,704.00
PENNEY J C CO 708160106 JCP 0 0 $- 10 1 $405.00
PFIZER INC 717081103 PFE 0 0 $- 65 1 $9,019.00
PITNEY BOWES INC 724479100 PBI 5,145 56 $327,999.00 22,270 309 $1,419,755.00
PROCTER & GAMBLE 742718109 PG 670 3 $65,618.00 1,727 31 $169,141.00
PROVIDIAN FINCL CORP 74406A102 PVN 4,238 59 $466,180.00 17,690 305 $1,945,900.00
SAFEWAY INC COM NEW 786514208 SWY 0 0 $- 80 1 $4,105.00
SBC COMMUNICATIONS 78387G103 SBC 6,305 52 $297,512.00 27,910 284 $1,316,989.00
SCHERING PLOUGH CORP 806605101 SGP 0 0 $- 120 1 $6,630.00
SCHLUMBERGER LTD 806857108 SLB 1,105 2 $66,508.00 1,136 17 $68,372.00
SERVICE CORP INTL 817565104 SRV 0 0 $- 155 1 $2,209.00
SHARED MEDICAL SYSTEMS CORP 819486101 SMS 0 0 $- 35 1 $1,949.00
SIMON PPTY GROUP INC 828806109 SPG 0 0 $- 60 1 $1,646.00
SOLECTRON CP 834182107 SLR 0 0 $- 60 1 $2,914.00
STANDARD & POORS DEP RECPTS 78462F103 SPY 130 7 $16,691.00 625 50 $80,247.00
STAPLES INC 855030102 SPLS 12,660 57 $416,202.00 52,232 303 $1,717,152.00
SUN MICROSYSTEMS INC 866810104 SUNW 2,740 55 $342,681.00 11,790 305 $1,474,514.00
SUNGARD DATA SYSTEMS INC 867363103 SDS 0 0 $- 65 1 $2,600.00
TEXACO INC 881694103 TX 0 0 $- 30 1 $1,703.00
</TABLE>
<PAGE> 15
Seneca Capital Management
Dean Witter WRAP Account Report: 13F
As of: 3/31/99
<TABLE>
<CAPTION>
NON VOTING VOTING
SECURITY CUSIP SYMBOL UNITS # Accts Market Value UNITS # Accounts Market Value
<S> <C> <C> <C> <C> <C> <C> <C> <C>
TEXAS INSTRUMENTS 882508104 TXN 3,295 55 $327,043.00 15,186 293 $1,507,287.00
TJX COS INC NEW 872540109 TJX 9,485 58 $322,490.00 40,655 302 $1,382,270.00
TYCO INTERNATIONAL LTD NEW 902124106 TYC 5,745 60 $412,210.00 20,160 331 $1,446,523.00
UNITED TECHNOLOGIES CORP 913017109 UTX 150 6 $20,314.00 805 46 $109,022.00
US TSY BOND 6 1/4 8-15- 912810EQ7 0 0 $- 10,000 1 $10,469.00
US TSY BOND 7 1/4 5-15- 912810DW5 0 0 $- 5,000 1 $5,738.00
US TSY NOTE 5 3/4 8-15- 912827L83 0 0 $- 4,000 1 $4,080.00
US TSY NOTE 5 5/8 2-28- 912827X23 0 0 $- 7,000 1 $7,077.00
US TSY NOTE 5 7/8 11-15- 912827V82 0 0 $- 16,000 1 $16,445.00
US TSY NOTE 6 7/8 7-31- 912827Q62 0 0 $- 19,000 1 $19,131.00
UTD HEALTHCARE CORP 910581107 UNH 0 0 $- 45 1 $2,368.00
WAL MART STORES INC 931142103 WMT 3,920 58 $361,391.00 14,010 318 $1,291,610.00
WARNER LAMBERT CO 934488107 WLA 40 1 $2,650.00 270 4 $17,888.00
WASHINGTON MUTUAL INC 939322103 WM 0 0 $- 70 1 $2,861.00
WASHINGTON POST COMPANY CL B 939640108 WPO 0 0 $- 6 1 $3,129.00
XL CAPITAL LTD CL A G98255105 XL 0 0 $- 33 1 $2,005.00
ZYMETX RESTRICTED 989859905 989859 0 0 $- 40 1 $90.00
</TABLE>
