UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: September 30, 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: Paragon Investment Management, Inc.
Address: 1420 Fifth Avenue
Suite 3020
Seattle, WA 98101
13F File Number: 801-39191
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 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: Marjanne K. Masterman
Title: Vice-President
Phone: (206) 583-8300
Signature, Place, and Date of Signing:
Marjanne K. Masterman Seattle, WA November 1, 1999
Report Type (Check only one.):
[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: 170,694,000
List of other Included Managers:
No.
13F File Number
Name
<PAGE>
<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>
Amer Intl Group com 026874107 3858 44376 SH SOLE
44376
American Express com 025816109 4306 31900 SH SOLE
31900
Amgen Inc. com 031162100 16658 204388 SH SOLE
204388
Anheuser-Busch com 035229103 911 13000 SH SOLE
13000
BP Amoco PLC - Spons ADR com 055622104 251 2269 SH SOLE
2269
Bank of America Corp (n/c 4/99 com 060505104 939 16859 SH SOLE
16859
Bank of New York Inc com 064057102 1404 42000 SH SOLE
42000
Biogen Inc com 090597105 4524 57400 SH SOLE
57400
Black & Decker Corp com 091797100 3132 68550 SH SOLE
68550
Boeing com 097023105 703 16500 SH SOLE
16500
Bristol-Myers Squibb Co. com 110122108 1158 17150 SH SOLE
17150
Chevron Corp com 166751107 372 4188 SH SOLE
4188
Ciena Corp com 171779101 3248 89000 SH SOLE
89000
Cisco Systems, Inc. com 17275R102 4260 62128 SH SOLE
62128
Citigroup Inc. (name chg 10/8 com 172967101 3910 88864 SH SOLE
88864
Coca Cola Co. com 191216100 767 15900 SH SOLE
15900
DuPont E I DeNemours & Co com 263534109 206 3400 SH SOLE
3400
EMC Corporation com 268648102 7223 101200 SH SOLE
101200
Exxon Corp. com 302290101 746 9816 SH SOLE
9816
Ford Motor Co. com 345370100 452 9000 SH SOLE
9000
General Electric com 369604103 4825 40695 SH SOLE
40695
Genzyme Corp com 372917104 3425 76000 SH SOLE
76000
Genzyme Surgical Products com 372917609 76 13551 SH SOLE
13551
Guidant Corporation (spinoff f com 401698105 429 8000 SH SOLE
8000
Halliburton Co com 406216101 1811 44167 SH SOLE
44167
Hewlett-Packard com 428236103 218 2400 SH SOLE
2400
Home Depot com 437076102 4155 60550 SH SOLE
60550
I. B. M. com 459200101 5667 46832 SH SOLE 46832
Intel Corp. com 458140100 6933 93300 SH SOLE
93300
Johnson & Johnson com 478160104 635 6916 SH SOLE
6916
Kimberly Clark Corp. com 494368103 4371 82867 SH SOLE
82867
Lilly (Eli) com 532457108 3126 48700 SH SOLE 48700
Lucent Technologies Inc com 549463107 231 3564 SH SOLE
3564
MCI Worldcom Inc (name changed com 98155K102 201 2800 SH SOLE
2800
MacMillan Bloedel Limited com 554783209 584 37200 SH SOLE
37200
Mattel Inc com 577081102 201 10553 SH SOLE
10553
McKesson HBOC Inc. com 58155q103 1325 45700 SH SOLE
45700
Merck & Co. com 589331107 1296 19992 SH SOLE
19992
Merrill Lynch & Co com 590188108 2516 37350 SH SOLE
37350
Microsoft com 594918104 9137 100897 SH SOLE
100897
Minnesota Mining ... com 604059105 214 2228 SH SOLE
2228
Morgan St Dean Witter Discover com 24240V101 2506 28100 SH SOLE
28100
Nike Inc Class B com 654106103 20532 361000 SH SOLE
361000
Paccar Inc. com 693718108 691 13580 SH SOLE
13580
Pfizer com 717081103 3240 90300 SH SOLE 90300
Philip Morris com 718154107 400 11700 SH SOLE
11700
Procter & Gamble com 742718109 614 6547 SH SOLE
6547
Quaker Oats Co. com 747402105 340 5500 SH SOLE
5500
Rayovac Corporation com 755081106 1291 59700 SH SOLE
59700
Reuters Group PLC - Spons ADR com 76132m102 215 3120 SH SOLE
3120
S&P Mid-Cap 400 Depository Rec com 595635103 4427 61650 SH SOLE
61650
Safeco Corp. com 786429100 490 17500 SH SOLE
17500
SmithKline Beecham PLC ADR rep com 832378301 230 4000 SH SOLE
4000
Starbucks Corporation com 855244109 3981 160634 SH SOLE
160634
State Street Corporation com 857477103 3019 46716 SH SOLE
46716
Telefonica de Espana com 879382208 300 6240 SH SOLE
6240
Tiffany & Company com 886547108 4725 78834 SH SOLE
78834
U.S. Bancorp com 902973106 294 9747 SH SOLE
9747
Weatherford Int'l (name & sym com 947074100 2387 74594 SH SOLE
74594
Weyerhaeuser Co. com 962166104 361 6267 SH SOLE
6267
1st Aust Pr Income Fund Auct M prd 318653201 500 20 SH SOLE
20
American Re Capital Pfd 8.50% prd 029162203 346 13900 SH SOLE
13900
Microsoft 2.196 Convertible Pr prd 594918203 624 6200 SH SOLE
6200
Alliance Mortgage Secs Income fdeq 018639104 86 10560.692SH SOLE
10560.692
D Witter Select Eqty Utility S fdeq 24241x262 26 26085.000SH SOLE
26085.000
Fidelity Advisor Equity Growth fdeq 315805200 264 4222.809 SH SOLE
4222.809
Fidelity Advisor Growth Oppty fdeq 398 8093.872 SH SOLE
8093.872
Vanguard S&P 500 Index Fund fdeq 8272 69775.197SH SOLE
69775.197
</TABLE>
