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<PAGE> 1
------------------------------
OMB APPROVAL
-----------------------------
OMB Number: 3235-0006
UNITED STATES Expires: February 28, 1997
SECURITIES AND EXCHANGE COMMISSION Estimated average burden
Washington, D.C. 20549 hours per response......24.60
-----------------------------
-----------------------------
SEC USE ONLY
-----------------------------
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 June 30 , 1999.
--------------------------- --
- --------------------------------------------------------------------------------
(Please read instructions before preparing form.)
- -------------------------------------------------------------------------------#
If amended report check here: [ ] 1
Seneca Capital Management LLC
- -------------------------------------------------------------------------------#
Name of Institutional Investment Manager 2
909 Montgomery Street, Suite 500 San Francisco CA 94133
- --------------------------------------------------------------------------------
Business Address (Street) (City) (State) (Zip)
Sandra J. Westhoff 415-677-1597 Chief Financial 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 26 day of July , 1999.
------------ -------------------- --
Seneca Capital Management LLC
-----------------------------------------------
(Name of Institutional Investment Manager)
-----------------------------------------------
(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 then 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.:3 Name: 13F File No.:3
- ------------------------ -------------- ---------------------- --------------
1. Seneca Capital 28-6450 6.
Management LLC
- ------------------------ -------------- ---------------------- --------------
2. Phoenix Investment 7.
Partners, Ltd.
- ------------------------ -------------- ---------------------- --------------
3. Phoenix Home Life 8.
Mutual Ins. Co.
- ------------------------ -------------- ---------------------- --------------
4. 9.
- ------------------------ -------------- ---------------------- --------------
5. 10.
- ------------------------ -------------- ---------------------- --------------
SEC 1685 (5/91)
<PAGE> 2
INFORMATION REQUIRED OF INSTITUTIONAL INVESTMENT
MANAGER PURSUANT TO SECTION 13(f) OF
THE SECURITIES EXCHANGE ACT OF 1934
AND RULES THEREUNDER
Report for Quarter Ended June 30, 1999
Securities with respect to which Seneca Capital Management LLC exercises
investment discretion, as reported herein, are hereby also reported herein with
respect to direct and indirect parent organizations of Seneca Capital Management
LLC, namely Phoenix Investment Partners Ltd., 56 Prospect Street, Hartford,
Connecticut and its majority shareholder, Phoenix Home Life Mutual Insurance
Company, One American Row, Hartford, Connecticut. Such securities have not been
included in the report filed by Phoenix Home Life Mutual Insurance Company for
itself, Phoenix Investment Partners Ltd., and certain other subsidiaries of
Phoenix Investment Partners Ltd.
<PAGE> 3
Seneca Capital Management LLC
FORM 13F
June 30, 1999
<TABLE>
<CAPTION>
Voting
Title Authority
of ------------
Security Class CUSIP Market Value Quantity Sole Share
- -------- ----- ----- ------------ -------- ---- -----
<S> <C> <C> <C> <C> <C>
COMMON STOCK
A T & T Corp COM 001957109 16228042.5 290760 290760
ADC Telecommunications COM 000886101 32242303.12 707650 707650
AT&T Canada Inc COM 00207q202 5125000 80000 80000
Abercrombie & Fitch Co Class A COM 002896207 39209760 816870 816870
Adaptec Inc COM 00651F108 4767187.5 135000 135000
Alcoa Inc COM 013817101 75974456.25 1227870 1227870
Alpharma Inc Cl A COM 020813101 355625 10000 10000
Altera Corp COM 021441100 4284975 116400 116400
America Online COM 02364J104 3344000 30400 30400
American Express Co COM 025816109 892657.5 6860 6860
American International Group COM 026874107 16258529.87 138665 138665
American Power Conversion COM 029066107 3924375 195000 195000
American Tower Corp Cl A COM 029912201 35798400 1491600 1491600
Anheuser Busch Cos Inc. COM 035229103 11292824.37 159194 159194
Ask Jeeves, Inc COM 045174109 210000 15000 15000
Automatic Data Processing COM 053015103 10937256 248574 248574
Baker Hughes Inc COM 057224107 51280125 1530750 1530750
Bank America Corp COM 06605f102 6848047.31 93409 93409
Bell Atlantic Corp COM 077853109 2409068.75 36850 36850
BellSouth Corp COM 079860102 894825 19400 19400
Best Buy Co Inc COM 086516101 85541062.5 1267275 1267275
Biogen Inc COM 090597105 23937112.5 372200 372200
Biomet Inc COM 090613100 4372500 110000 110000
Bristol Myers Squibb Co COM 110122108 82444558 1170464 1170464
Broadcom Corp-Cl A COM 111320107 5637937.5 39000 39000
CVS Corp COM 126650100 785863.75 15485 15485
Cardinal Health Inc COM 14149Y108 1053509.62 16429 16429
Caterpillar Inc COM 149123101 204000 3400 3400
Page Total 526254002.1
Champion International Corp COM 158525105 3590625 75000 75000
Chancellor Media Cl A COM 158915108 103849877.3 1883898 1883898
Charles Schwab Corp New COM 808513105 22738871.5 208613 208613
Chase Manhattan Corp New COM 16161A108 692000 8000 8000
Circuit City Stores COM 172737108 10230000 110000 110000
Cisco Systems Inc COM 17275R102 82492500.87 1280194 1280194
Citigroup Inc COM 172967101 101544645 2137782 2137782
</TABLE>
<PAGE> 4
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
Coca Cola Co COM 191216100 52151300 841150 841150
Colgate-Palmolive Co COM 194162103 12660697.5 128535 128535
Comerica Inc COM 200340107 33243096.56 559295 559295
Comverse Technology Inc COM 205862402 33461600 443200 443200
Concord EFS Inc COM 206197105 34900196.25 824820 824820
Copper Mountain Networks Inc COM 217510106 18107400 234400 234400
Covad Communications Group, Inc. COM 222814204 2132500 40000 40000
Crown Castle Int'l Corp COM 228227104 24911313.75 1196940 1196940
Dell Computer Corp COM 247025109 1755132 47436 47436
Donaldson Lufkin & Jenrette COM 257661108 32103610 532840 532840
Dow Chemical Co COM 260543103 67890812.5 535100 535100
E M C Corp Mass COM 268648102 3047000 55400 55400
Eastman Kodak Co COM 277461109 277775 4100 4100
Echostar Communications Inc COM 278762109 29665606.25 193340 193340
Elan Corp Plc Adr COM 284131208 582750 21000 21000
Emerson Electric Co COM 291011104 5908572.5 93880 93880
Enron Corp COM 293561106 2718187.5 33250 33250
Ethan Allen Interior Inc COM 297602104 4341250 115000 115000
Exxon Corp COM 302290101 397193.75 5150 5150
Federated Department Store COM 31410H101 1799875 34000 34000
Flextronics International Ltd COM Y2573F102 5198685 93670 93670
Gap Inc COM 364760108 17724594.87 351853 351853
Gemstar Intl Group Ltd COM 4241250 65000 65000
General Electric Co COM 369604103 88948289 787153 787153
Page Total 803307207.1
General Mills Inc COM 370334104 39239075 488200 488200
General Motors Corp Class H COM 370442832 48259812.5 857000 857000
Genzyme Corp General Division COM 372917104 1212500 25000 25000
Georgia Pacific Corp COM 373298108 94242850.62 1989295 1989295
Grupo Indus Durango - Spon ADR COM 40048E109 1318150 128600 128600
Guidant Corp COM 401698105 854810 16720 16720
Halliburton Company COM 406216101 87311685 1929540 1929540
Hercules Inc COM 427056106 28873065.62 734450 734450
Hewlett Packard Co COM 428236103 2010000 20000 20000
ITC Deltacom Inc. COM 45031T104 5670000 202500 202500
Intel Corp COM 458140100 15432396 259368 259368
International Business Machines COM 459200101 84649444 654928 654928
International Integration Inc. COM 459698106 8591850 381860 381860
International Paper Company COM 460146103 562800 11200 11200
Intuit Inc COM 461202103 4956875 55000 55000
KLA-Tencor Corporation COM 482480100 45714817.5 704660 704660
LSI Logic Corp COM 502161102 4381875 95000 95000
Lamar Advertising Co COM 512815101 389315.62 9510 9510
Lear Corp COM 521865105 30132580 605680 605680
Lilly (Eli) & Co COM 532457108 14037425.62 195985 195985
Limited Inc COM 532716107 3852337.5 84900 84900
Linear Technology Corp COM 535678106 4707500 70000 70000
Linens N Things Inc COM 535679104 3810625 87100 87100
</TABLE>
<PAGE> 5
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
Lucent Technologies Inc COM 549463107 105765670.6 1568351 1568351
MCI WorldCom Inc COM 55268B106 107116313.6 1244634 1244634
Maytag Corp COM 578592107 13714176.94 196443 196443
Mead Corp COM 582834107 42209667.5 1011010 1011010
Medimmune Inc COM 584699102 9471450 139800 139800
Mellon National Bank COM 585509102 59439660 1634080 1634080
Merck & Co COM 589331107 500650 6800 6800
Mercury Interactive Corp COM 589405109 4131800 116800 116800
Page Total 872561178.6
Micron Technolgy Inc COM 595112103 772740 19080 19080
Microsoft Corp COM 594918104 126579960 1403520 1403520
Mobil Corp COM 607059102 15134721.25 153263 153263
Morgan Stanley Dean Witter & Co COM 617446448 89716827.5 874220 874220
Motorola Inc COM 620076109 117840575 1243700 1243700
Mylan Labs COM 628530107 469050 17700 17700
Nabors Industries COM 629568106 31936856.25 1310230 1310230
Nokia Corp - Spon ADR COM 654902204 67250825 734480 734480
Nortel Networks Corp COM 656569100 2170312.5 25000 25000
Outdoor Systems Inc COM 690057104 135048165.9 3699950 3699950
PMC-Sierra Inc COM 69344F106 3830937.5 65000 65000
Pinnacle Holdings Inc COM 72346N101 6125000 250000 250000
Pitney Bowes Inc COM 724479100 1557420 24240 24240
Procter & Gamble Co COM 742718109 1815345 20340 20340
Providian Financial Corp COM 74406a102 1911625 20500 20500
Qualcomm Inc COM 747525103 121636340 847640 847640
Qwest Communications Intl COM 749121109 9257500 280000 280000
RF Micro Devices Inc COM 749941100 57941088.75 776430 776430
S & P Depository Receipt COM 78462F103 312360 2280 2280
SPX Corp COM 784635104 32426390 388340 388340
Safeway Inc COM 786514208 332145 6710 6710
Schlumberger LTD COM 806857108 1209043.5 18984 18984
Smurfit-Stone Container Corp COM 832727101 21495009.37 1045350 1045350
Staples Inc COM 855030102 13250593.12 428302 428302
Sun Microsystems Inc COM 866810104 115173463.8 1672210 1672210
TJX Companies Inc New COM 872540109 91275117.37 2739966 2739966
Tandy Corp COM 875382103 80096350 1638800 1638800
Terayon Communications Systems COM 880775101 6705000 120000 120000
Texaco Inc COM 881694103 60511235 970120 970120
Texas Instruments Inc COM 882508104 97040160 673890 673890
Thomas and Betts Corp COM 884315102 2249572.5 47610 47610
Page Total 1313071729
Tyco Int'l Ltd COM 902124106 106878947.5 1128010 1128010
Unionbancal Corporation COM 908906100 31640442.5 875860 875860
Uniphase Corp COM 909149106 2817020 16970 16970
United Technologies Corp COM 913017109 57139200 793600 793600
Universal Electronics Inc. COM 913483103 11463531.25 408500 408500
</TABLE>
<PAGE> 6
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
Usweb Corp COM 917327108 268468.75 12100 12100
Venator Group Inc COM 922944103 719143.75 68900 68900
Veritas Software Corp COM 923436109 2526286.87 26610 26610
Visio Corp COM 927914101 1903125 50000 50000
Visx Inc COM 92844S105 9898437.5 125000 125000
Walmart Stores Inc COM 931142103 67381269.75 1396503 1396503
Watson Pharmaceuticals Inc COM 942683103 3155625 90000 90000
Weatherford International COM 947074100 35862467.5 979180 979180
Wellpoint Health Networks COM 94973H108 70986903.75 836370 836370
Wesco International Inc COM 95082P105 16326200 796400 796400
Weyerhaeuser Co COM 962166104 8593750 125000 125000
Williams Cos COM 969457100 4256250 100000 100000
Xerox Corp COM 984121103 262828.12 4450 4450
Xilinx Inc COM 983919101 46231092.5 807530 807530
3993505107
PREFERRED STOCK - EQUITY
Equity Residential cv7 1/4 Series G 29476l859 238120 10000 10000
238120
GRAND TOTAL 3993743227
==========
Page Total 478549109.8
</TABLE>
<PAGE> 7
Seneca Capital Management- Dean
Witter WRAP Account Report: 13F
AS OF 6/30/99
<TABLE>
<CAPTION>
NON VOTING
SECURITY CUSIP SYMBOL UNITS # Accounts MARKET VALUE
<S> <C> <C> <C> <C> <C>
ALCOA INC 13817101 AA 9,890 100 611,959
AMERICAN EXPRESS CO 25816109 AXP 0 0 0
AMERICAN HOME PRODUCTS 26609107 AHP 0 0 0
AMERICAN INTERNATIONAL GP 26874107 AIG 994 3 116,548
ANHEUSER BUSCH COS INC 35229103 BUD 585 3 41,499
AT&T CORPORATION 1957109 T 1,912 3 106,714
AUTOMATIC DATA PROCESSING INC 53015103 AUD 1,850 3 81,400
AVON PRODUCTS INC 54303102 AVP 0 0 0
BAKER HUGHES INC 57224107 BHI 2,300 22 77,050
BANK OF AMERICA CORP 60505104 BAC 1,131 3 82,917
BELL ATLANTIC CORP 77853109 BEL 0 0 0
BEST BUY CO 86516101 BBY 5,210 100 351,675
BRISTOL MYERS SQUIBB CO 110122108 BMY 12,240 103 862,154
CHANCELLOR MEDIA CORP 158915108 AMFM 12,635 103 696,507
CHARLES SCHWAB NEW 808513105 SCH 2,445 2 266,505
CISCO SYS INC 17275R102 CSCO 9,094 103 586,024
CITIGROUP INC 172967101 C 21,206 103 1,007,307
COCA COLA CO 191216100 KO 8,630 100 535,060
COLGATE PALMOLIVE CO 194162103 CL 980 3 96,531
COMPUWARE CORP 205638109 CPWR 110 1 3,499
CVS CORPORATION 126650100 CVS 0 0 0
DELL COMPUTER CORP 247025109 DELL 2,460 2 91,020
DOW CHEMICAL CO 260543103 DOW 4,435 100 562,704
ELAN PLC ADR 284131208 ELN 0 0 0
ELI LILLY & CO 532457108 LLY 1,010 2 72,341
EMC CORP MASS 268648102 EMC 90 1 4,950
EXXON CORP 302290101 XON 50 1 3,856
FORD MOTOR CO 345370100 F 0 0 0
FRESENIUS MED CARE HLDGS PFD D 358030203 FSMEP 0 0 0
GAP INC 364760108 GPS 2,630 3 132,486
GENERAL ELECTRIC CO 369604103 GE 7,445 103 841,285
GENERAL MILLS INC 370334104 GIS 5,350 101 429,997
GENERAL MOTORS CORP H (NEW) 370442832 GMH 230 4 12,952
GEORGIA-PAC (GEORGIA PAC GP) 373298108 GP 16,980 103 804,446
GRACE WR & CO DELA NEW 38388F108 GRA 0 0 0
GUIDANT CORP 401698105 GDT 0 0 0
HALLIBURTON CO HLDG CO 406216101 HAL 14,240 102 644,381
INT'L NETWORK SERVICES 460053101 INSS 2 1 81
INTEL CORP 458140100 INTC 1,810 3 107,695
INTL BUSINESS MACHINES CORP 459200101 IBM 8,540 103 1,103,817
</TABLE>
<TABLE>
<CAPTION>
VOTING
SECURITY SYMBOL UNITS # Accounts MARKET VALUE
<S> <C> <C> <C> <C>
ALCOA INC AA 44,575 494 2,758,147
AMERICAN EXPRESS CO AXP 3 2 390
AMERICAN HOME PRODUCTS AHP 240 1 13,770
AMERICAN INTERNATIONAL GP AIG 2,647 48 310,374
ANHEUSER BUSCH COS INC BUD 2,507 48 177,850
AT&T CORPORATION T 5,379 49 300,220
AUTOMATIC DATA PROCESSING INC AUD 5,380 48 236,720
AVON PRODUCTS INC AVP 280 1 15,540
BAKER HUGHES INC BHI 11,540 74 386,590
BANK OF AMERICA CORP BAC 3,187 48 233,655
BELL ATLANTIC CORP BEL 790 1 51,646
BEST BUY CO BBY 23,290 493 1,572,075
BRISTOL MYERS SQUIBB CO BMY 53,124 539 3,741,941
CHANCELLOR MEDIA CORP AMFM 55,182 542 3,041,918
CHARLES SCHWAB NEW SCH 4,615 42 503,035
CISCO SYS INC CSCO 39,630 541 2,553,746
CITIGROUP INC C 90,663 540 4,306,622
COCA COLA CO KO 38,885 493 2,410,870
COLGATE PALMOLIVE CO CL 2,892 49 284,868
COMPUWARE CORP CPWR 460 3 14,634
CVS CORPORATION CVS 1,145 2 58,109
DELL COMPUTER CORP DELL 5,940 41 219,780
DOW CHEMICAL CO DOW 19,650 493 2,493,165
ELAN PLC ADR ELN 360 3 9,990
ELI LILLY & CO LLY 2,528 42 181,075
EMC CORP MASS EMC 640 6 35,200
EXXON CORP XON 175 2 13,497
FORD MOTOR CO F 230 1 12,981
FRESENIUS MED CARE HLDGS PFD D FSMEP 224 1 3
GAP INC GPS 6,688 45 336,913
GENERAL ELECTRIC CO GE 33,245 541 3,756,685
GENERAL MILLS INC GIS 24,170 497 1,942,638
GENERAL MOTORS CORP H (NEW) GMH 1,750 21 98,550
GEORGIA-PAC (GEORGIA PAC GP) GP 72,837 539 3,450,730
GRACE WR & CO DELA NEW GRA 224 1 4,256
GUIDANT CORP GDT 590 2 30,164
HALLIBURTON CO HLDG CO HAL 62,242 518 2,816,579
INT'L NETWORK SERVICES INSS 2 1 81
INTEL CORP INTC 5,580 49 332,010
INTL BUSINESS MACHINES CORP IBM 35,699 542 4,614,208
</TABLE>
<PAGE> 8
Seneca Capital Management- Dean
Witter WRAP Account Report: 13F
AS OF 6/30/99
<TABLE>
<CAPTION>
NON VOTING
SECURITY CUSIP SYMBOL UNITS # Accounts MARKET VALUE
<S> <C> <C> <C> <C> <C>
LAMAR ADVERTISING CO CL A 512815101 LAMR 40 1 1,638
LUCENT TECHNOLOGIES 549463107 LU 13,390 102 902,994
MAYTAG CORP 578592107 MYG 1,165 2 81,332
MCI WORLDCOM INC 55268B106 WCOM 8,170 103 703,141
MELLON BANK CORP 585509102 MEL 19,990 86 727,154
MICROSOFT CORP 594918104 MSFT 11,640 102 1,049,772
MOBIL CORP DELAWARE 607059102 MOB 1,030 2 101,713
MORGAN STNLY DEAN WITTER & CO 617446448 MWD 6,910 85 709,137
MOTOROLA INC 620076109 MOT 10,900 103 1,032,793
NOKIA CP ADR 654902204 NOK 520 15 47,615
OCCIDENTAL PETROLEUM CORP DE 674599105 OXY 0 0 0
OUTDOOR SYSTEMS INC 690057104 OSI 26,413 103 964,089
PITNEY BOWES INC 724479100 PBI 0 0 0
PROCTER & GAMBLE 742718109 PG 940 3 83,896
PROVIDIAN FINCL CORP 74406A102 PVN 0 0 0
QUALCOMM INC 747525103 QCOM 3,920 100 562,520
RADIAN GROUP INC 750236101 RDN 0 0 0
SBC COMMUNICATIONS 78387G103 SBC 0 0 0
SCHLUMBERGER LTD 806857108 SLB 0 0 0
STAPLES INC 855030102 SPLS 0 0 0
SUN MICROSYSTEMS INC 866810104 SUNW 13,406 102 923,342
TANDY CORP 875382103 TAN 6,290 98 307,442
TEXACO INC 881694103 TX 8,801 99 548,979
TEXAS INSTRUMENTS 882508104 TXN 5,659 100 814,896
TJX COS INC NEW 872540109 TJX 15,795 101 526,179
TYCO INTERNATIONAL LTD NEW 902124106 TYC 8,835 101 837,133
UNITED TECHNOLOGIES CORP 913017109 UTX 8,080 99 581,760
WAL MART STORES INC 931142103 WMT 12,030 102 580,478
WASTE MGMT INC (DELA) 94106L109 WMI 0 0 0
WELLPOINT HLTH NET INC NEW 94973H108 WLP 0 0 0
WEYERHAEUSER CO 962166104 WY 0 0 0
XL CAPITAL LTD CL A G98255105 XL 0 0 0
</TABLE>
<TABLE>
<CAPTION>
VOTING
SECURITY SYMBOL UNITS # Accounts MARKET VALUE
<S> <C> <C> <C> <C>
LAMAR ADVERTISING CO CL A LAMR 150 3 6,140
LUCENT TECHNOLOGIES LU 57,988 540 3,910,612
MAYTAG CORP MYG 2,955 42 206,306
MCI WORLDCOM INC WCOM 33,498 541 2,882,975
MELLON BANK CORP MEL 91,570 450 3,330,933
MICROSOFT CORP MSFT 50,127 539 4,520,779
MOBIL CORP DELAWARE MOB 2,675 42 264,162
MORGAN STNLY DEAN WITTER & CO MWD 32,394 454 3,324,439
MOTOROLA INC MOT 47,614 538 4,511,529
NOKIA CP ADR NOK 2,690 60 246,312
OCCIDENTAL PETROLEUM CORP DE OXY 1 1 21
OUTDOOR SYSTEMS INC OSI 110,819 540 4,044,962
PITNEY BOWES INC PBI 325 1 20,881
PROCTER & GAMBLE PG 2,397 45 213,942
PROVIDIAN FINCL CORP PVN 370 1 34,503
QUALCOMM INC QCOM 17,630 488 2,529,905
RADIAN GROUP INC RDN 79 1 3,856
SBC COMMUNICATIONS SBC 7 1 406
SCHLUMBERGER LTD SLB 6 2 382
STAPLES INC SPLS 2,105 5 65,123
SUN MICROSYSTEMS INC SUNW 62,339 524 4,293,634
TANDY CORP TAN 27,515 487 1,344,887
TEXACO INC TX 39,083 487 2,437,889
TEXAS INSTRUMENTS TXN 25,655 490 3,694,320
TJX COS INC NEW TJX 71,294 498 2,375,009
TYCO INTERNATIONAL LTD NEW TYC 38,193 537 3,618,862
UNITED TECHNOLOGIES CORP UTX 35,900 487 2,584,800
WAL MART STORES INC WMT 47,700 528 2,301,685
WASTE MGMT INC (DELA) WMI 28 1 1,505
WELLPOINT HLTH NET INC NEW WLP 220 8 18,675
WEYERHAEUSER CO WY 185 1 12,719
XL CAPITAL LTD CL A XL 3 1 170
</TABLE>
<PAGE> 9
Seneca Capital Management LLC
STOCK PORTFOLIO
GE Investments Real Estate Securities Funds, Inc.
June 30, 1999
<TABLE>
<CAPTION>
Cusip Market Share
Security Value Voting
- -------- ----- ------
<S> <C> <C> <C>
Archstone Communities Trust 039581103 $2,097,159.19 95,597
Arden Realty Group Inc. 039793104 $763,375.00 31,000
Avalon Bay Communities, Inc. 053469102 $1,637,624.81 44,260
Bedford Property Investors 076446301 $1,224,437.50 68,500
Berkshire Realty Co 084710102 $585,062.50 50,600
Capital Trust Cl-A s b i 140920109 $248,400.00 55,200
Catellus 149111106 $488,000.00 32,000
Chateau Properties Inc. 161726104 $1,392,093.75 46,500
Cornerstone Properties 21922H103 $1,730,375.00 109,000
Crescent Real Estate Equities 225756105 $1,441,625.00 60,700
Developers Div Rlty 251591103 $1,253,812.50 74,300
Duke Realty 264411505 $1,579,375.00 70,000
Entertainment Property Trust 29380T105 $423,000.00 24,000
Equity Office Properties 294741103 $2,003,875.00 78,200
Equity Residential Properties 2476L107 $2,099,912.50 46,600
Essex Property Trust Inc. 297178105 $2,637,206.25 74,550
Felcor Lodging Trust Inc. 314305103 $595,525.00 28,700
First Industrial Realty Trust 32054K103 $1,306,025.00 47,600
Glenborough Realty Trust Pf. A 37803P204 $1,150,450.00 60,550
Interstate Hotels Corp 46088R108 $11,512.88 2,791
Macerich Co 554382101 $1,666,875.00 63,500
Mack-Cali Realty Corp. 554489104 $1,596,375.00 51,600
Manufactured Home Communities Inc. 564682102 $1,911,000.00 73,500
MeriStar Hospitality Corporation 58984Y103 $846,185.44 37,713
Northstar Financial 67704F205 $559,500.00 30,000
Pacific Gulf PPTY 694396102 $1,071,972.50 47,380
Prentiss Properties Trust 740706106 $1,512,000.00 64,000
Reckson Associates Preferred A 75621K205 $764,202.00 33,500
Simon Property Group, Inc. 828781104 $1,654,450.00 65,200
Spieker Properities Inc. 848497103 $2,313,062.50 59,500
Starwood Hotels & Resorts Worldwide Inc. 855905204 $1,503,675.00 49,200
Sunstone Hotel Invs Inc. 867933103 $693,090.00 81,540
Trinet Corp Realty Trust 896287103 $996,750.00 36,000
Urban Shopping Centers, Inc. 92924B105 $1,666,350.00 52,900
Wyndham International - CL A 983101106 $376,834.50 83,741
TOTAL PORTFOLIO $43,801,168.81
</TABLE>
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