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, 2000
Check here if Amendment [x]; Amendment Number: 1
This Amendment (Check only one.): [ x ] 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 14, 2000
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: 77
Form 13F Information Table Value Total: $238,095,000
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>
Abbott Labs com 002824100 415 8730 SH SOLE 8730
Amer Intl Group com 026874107 7114 74350 SH SOLE 74350
American Express com 025816109 5534 91100 SH SOLE 91100
Amgen Inc. com 031162100 28467 407676 SH SOLE 407676
Anheuser-Busch com 035229103 1100 26000 SH SOLE 26000
Applied Materials Inc com 038222105 1465 24700 SH SOLE 24700
BP Amoco PLC - Spons ADR (Name com 055622104 225 4244 SH SOLE 4244
Bank of America Corp com 060505104 871 16633 SH SOLE 16633
Bank of New York Inc com 064057102 2074 37000 SH SOLE 37000
BellSouth Corp com 079860102 241 6000 SH SOLE 6000
Biogen Inc com 090597105 4139 67850 SH SOLE 67850
Black & Decker Corp com 091797100 3111 91000 SH SOLE 91000
Boeing com 097023105 1027 16300 SH SOLE 16300
Bristol-Myers Squibb Co. com 110122108 888 15550 SH SOLE 15550
Chevron Corp com 166751107 306 3588 SH SOLE 3588
Chubb Corp com 171232101 364 4600 SH SOLE 4600
Ciena Corp com 171779101 11846 96460 SH SOLE 96460
Cisco Systems Inc com 17275R102 6146 111244 SH SOLE 111244
Citigroup Inc com 172967101 6702 123970 SH SOLE 123970
Coca Cola Co. com 191216100 876 15900 SH SOLE 15900
Comverse Technology Inc com 205862402 3618 33500 SH SOLE 33500
EMC Corporation com 268648102 11772 118760 SH SOLE 118760
El Paso Energy Corp com 283905107 4254 69034 SH SOLE 69034
Exxon Mobil Corporation com 30231g102 848 9516 SH SOLE 9516
General Electric com 369604103 7504 130080 SH SOLE 130080
Grant Prideco Inc. com 38821g101 1735 79084 SH SOLE 79084
Guidant Corporation (spinoff f com 401698105 537 7600 SH SOLE 7600
Halliburton Co com 406216101 4168 85167 SH SOLE 85167
Home Depot com 437076102 5322 100300 SH SOLE 100300
Honeywell International Inc. com 438516106 2853 80087 SH SOLE 80087
I. B. M. com 459200101 1449 12882 SH SOLE 12882
IMS Health Inc. com 449934108 3123 150500 SH SOLE 150500
Intel Corp. com 458140100 6651 160030 SH SOLE 160030
Johnson & Johnson com 478160104 694 7386 SH SOLE 7386
Kimberly Clark Corp. com 494368103 5789 103717 SH SOLE 103717
Kroger Co. com 501044101 3037 134620 SH SOLE 134620
Lilly (Eli) com 532457108 5557 68500 SH SOLE 68500
Loews Corp. com 540424108 200 2400 SH SOLE 2400
Lucent Technologies Inc com 549463107 2843 93026 SH SOLE 93026
Merck & Co. com 589331107 4613 61972 SH SOLE 61972
Microsoft com 594918104 7988 132448 SH SOLE 132448
Morgan Stanley Dean Witter & C com 617446448 3955 43250 SH SOLE 43250
NASDAQ-100 Shares com 631100104 678 7650 SH SOLE 7650
Nike Inc Class B com 654106103 7123 177800 SH SOLE 177800
Nordstrom Inc com 655664100 2443 157000 SH SOLE 157000
Oracle Sys Corp. com 68389X105 441 5600 SH SOLE 5600
Paccar Inc. com 693718108 225 6080 SH SOLE 6080
Pepsico Inc. com 713448108 239 5200 SH SOLE 5200
Pfizer com 717081103 5422 120650 SH SOLE 120650
Philip Morris com 718154107 324 11000 SH SOLE 11000
Potlatch Corp com 737628107 316 10000 SH SOLE 10000
Procter & Gamble com 742718109 234 3500 SH SOLE 3500
Quaker Oats Co. com 747402105 356 4500 SH SOLE 4500
Qwest Communications Intl com 749121109 3958 82350 SH SOLE 82350
Reuters Group PLC - Spons ADR com 76132m102 351 3120 SH SOLE 3120
Royal Dutch Petro-NY Shares (e com 780257804 258 4310 SH SOLE 4310
S&P 500 Depository Receipt com 78462f103 768 5350 SH SOLE 5350
S&P Mid-Cap 400 Depository Rec com 595635103 3453 35150 SH SOLE 35150
Safeco Corp. com 786429100 571 20950 SH SOLE 20950
SmithKline Beecham PLC ADR rep com 832378301 274 4000 SH SOLE 4000
Spiegel Inc -Cl A com 848457107 843 120400 SH SOLE 120400
Starbucks Corporation com 855244109 6936 173134 SH SOLE 173134
Sun Microsystems Inc. com 866810104 271 2320 SH SOLE 2320
Telefonica de Espana com 879382208 378 6364 SH SOLE 6364
Texas Instruments com 882508104 2576 54600 SH SOLE 54600
Tiffany & Company com 886547108 6616 171568 SH SOLE 171568
Tribune Company com 896047107 229 5257 SH SOLE 5257
U.S. Bancorp com 902973106 222 9747 SH SOLE 9747
Varian Semiconductor Equipment com 922207105 3165 84550 SH SOLE 84550
Weatherford International Inc com 947074100 3401 79084 SH SOLE 79084
Wells Fargo Company com 949746101 202 4390 SH SOLE 4390
Weyerhaeuser Co. com 962166104 427 10565 SH SOLE 10565
Worldcom Inc com 98157d106 4375 144037 SH SOLE 144037
American Re Capital Pfd 8.50% prd 029162203 225 9100 SH SOLE 9100
Alliance Mortgage Secs Income fdeq 018639104 87 10560.692SH SOLE 10560.692
D Witter Select Eqty Utility S fdeq 24241x262 28 26085.000SH SOLE 26085.000
Vanguard S&P 500 Index Fund fdeq 922908108 9251 69775.197SH SOLE 69775.197
</TABLE>
