UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: 06/30/99
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: Brian Warner
Address: 767 Third Avenue, 16th Floor
New York, NY 10017
(212) 593-4538
Form 13F File Number: 28-6744
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: ______________________________
Title: ______________________________
Phone: ______________________________
Signature, Place, and Date of Signing:
/s/ Brian Warner New York, NY 08/16/99
______________________ _________________________ ________________
[Signature] [City, State] [Date]
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting
manager are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in this report, and
all holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for
this reporting manager are reported in this report and a portion are
reported by other reporting manager(s).)
<PAGE>
<PAGE>
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 35
Form 13F Information Table Value Total: $180,947,519
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
NONE
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
Form 13F INFORMATION TABLE
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
- -------- -------- ---------- --------- --------------------- -------- -------- -------------------------
Voting
Authority
Title Value Shrs or Put/ Investment Other -------------------------
Name of Issuer of Class CUSIP (x$1000) prn amt SH/PRN Call discretion managers Sole Shared None
- -------------- -------- ----------- -------- --------- ------ ---- ---------- -------- ----------- ------ ----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Converse Inc Del COM 212540 10 8 $55,825 15,400 SH Sole 15,400
Alaris Med Inc COM 011637 10 5 $2,222,775 658,600 SH Sole 658,600
Argosy Gaming Co COM 040228 10 8 $986,174 111,900 SH Sole 111,900
Film Roman Inc COM 317234 10 2 $102,830 35,000 SH Sole 35,000
Draxis Health Inc COM 26150J 10 1 $1,100,000 550,000 SH Sole 550,000
Monro Muffler Brake Inc COM 610236 10 1 $80,800 10,100 SH Sole 10,100
North Pittsburgh Sys Inc COM 661562 10 8 $1,991,890 117,170 SH Sole 117,170
Opti Inc. COM 683960 10 8 $370,758 61,000 SH Sole 61,000
Pagemart Wirless Inc CLA 69553J 10 4 $1,096,635 145,000 SH Sole 145,000
Park Pl Entmt Corp COM 700690 10 0 $9,978,640 1,030,000 SH Sole 1,030,000
Pennsylvania Enterprises Inc COM 708720 10 7 $518,627 16,900 SH Sole 16,900
Sound Advice Inc COM 836066 10 0 $156,198 21,000 SH Sole 21,000
Central European Media Entrprs CLA G20045 10 3 $845,000 130,000 SH Sole 130,000
Niagara Corp COM 653349 10 0 $1,883,296 331,100 SH Sole 331,100
NTL Inc COM 629407 10 7 $1,292,820 15,000 SH Sole 15,000
Pioneer Cos Inc CLA 723643 10 2 $397,350 88,300 SH Sole 88,300
Associated Group Inc CLA 045651 10 6 $17,707,487 271,900 SH Sole 271,900
Associated Group Inc CLB 045651 20 5 $42,815,478 656,800 SH Sole 656,800
Avatar Hldgs Inc COM 053494 10 0 $3,632,308 191,800 SH Sole 191,800
Citizens Utils Co Del CLB 177342 20 1 $4,116,250 370,000 SH Sole 370,000
Clevland Indians Baseball CLA 186202 10 7 $385,875 21,000 SH Sole 21,000
Cole National Corp New CLA 193290 10 3 $261,954 33,000 SH Sole 33,000
Crestline Cap Corp COM 226153 10 4 $15,203,995 904,300 SH Sole 904,300
New Frontier Media Inc COM 644398 10 9 $420,500 58,000 SH Sole 58,000
Mariner Post-Acute Network Inc COM 568459 10 1 $105,841 187,996 SH Sole 187,996
Pricesmart Inc COM 741511 10 9 $17,344,250 495,550 SH Sole 495,550
Penwest Pharmaceuticals Co COM 709754 10 5 $2,020,800 252,600 SH Sole 252,600
R H Donnelley Corp COM NEW 74955W 30 7 $10,818,339 553,000 SH Sole 553,000
Reynolds Metals Co COM 761763 10 1 $885,000 15,000 SH Sole 15,000
Sun Intl Hotels Ltd ORD P8797T 13 3 $4,312,110 96,360 SH Sole 96,360
Goodyear Tire & Rubr Co PUT 382550 95 1 $588,130 10,000 SH Put Sole 10,000
Becton Dickinson & Co PUT 075887 95 9 $300,000 10,000 SH Put Sole 10,000
Associated Group Inc PUT 045651 95 6 $11,722,500 180,000 SH Put Sole 180,000
Associated Group Inc PUT 045651 95 5 $15,319,180 235,000 SH Put Sole 235,000
Saga Communications CLA 786598 10 2 $9,907,904 531,968 SH Sole 531,968
-----------
TOTAL $180,947,519
</TABLE>
