UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 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: Kern Capital Management LLC
Address: 114 W. 47th Street, Suite 1926
New York, NY 10036
Form 13F File Number: 28-6932
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, and 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: John J. Crimmins
Title: Senior Vice President, Chief Financial and Operating Officer
Phone: 212-944-4726
Signature, Place, and Date of Signing:
/x/ John J. Crimmins New York, NY 5/10/99
[Signature] [City, State] [Date]
Report Type (Check only one.):
[ x ] 13F HOLDINGS REPORT. (Check if all holdings of this reporting
manager are reported in this report.)
[ ] 13 F 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).
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Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 97
Form 13F Information Table Value Total: $404,759
List of Other Included Managers: None
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SHARES
SH/PUT/
VALUE PRN AMT INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x1,000) PRN CALL DISCRETION MANAGERS SOLE SHRD NONE
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ACTV INC COMMON 00088E104 5023 441545 SH SOLE 441545 0 0
ADEPT TECHNOLOGY INC COMMON 006854103 1319 200000 SH SOLE 200000 0 0
AMERICAN CLASSIC VOYAGES COMMON 024928103 7170 441200 SH SOLE 416400 0 24800
AMERILINK CORP COMMON 03070N108 2578 340900 SH SOLE 340900 0 0
ANAREN MICROWAVE INC COMMON 032744104 14805 610500 SH SOLE 573500 0 37000
ANTEC CORP COMMON 03664P105 1991 92600 SH SOLE 79900 0 12700
ARGUSS HLDGS INC COMMON 040282105 2435 151600 SH SOLE 151600 0 0
ARTHROCARE CORP COMMON 043136100 5846 354300 SH SOLE 354300 0 0
AUDIOVOX CORP CL A 050757103 3403 513700 SH SOLE 513700 0 0
AXENT TECHNOLOGIES INC COMMON 05459C108 3804 158100 SH SOLE 133200 0 24900
BLUE RHINO CORP COMMON 095811105 2082 158600 SH SOLE 158600 0 0
CBT GROUP PUB LTD DEPOSITORY RECEI 124853300 2416 211200 SH SOLE 175900 0 35300
CALPINE CORP COMMON 131347106 11452 314300 SH SOLE 284700 0 29600
CARMIKE CINEMAS INC CL A 143436103 1734 96000 SH SOLE 96000 0 0
CASH AMER INTL INC COMMON 14754D100 7904 613900 SH SOLE 613900 0 0
CINAR CORP SUB VTG SHS B 171905300 13593 591000 SH SOLE 547500 0 43500
CLAIRE'S STORES INC COMMON 179584107 5145 170800 SH SOLE 149000 0 21800
CONSOLIDATED STORES CORP COMMON 210149100 3644 120200 SH SOLE 101600 0 18600
CORPORATE EXECUTIVE BRD COMMON 21988R102 3284 124500 SH SOLE 124500 0 0
CRAFTMADE INTL INC COMMON 22413E104 4263 284200 SH SOLE 284200 0 0
CRITICAL PATH INC COMMON 22674V100 1309 17000 SH SOLE 8150 0 8850
CYTYC CORP COMMON 232946103 5858 422200 SH SOLE 394300 0 27900
E4L INC COMMON 268452109 3037 362600 SH SOLE 312800 0 49800
ELANTEC SEMICONDUCTOR IN COMMON 284155108 4833 696700 SH SOLE 696700 0 0
EMULEX CORP COM NEW 292475209 12111 367000 SH SOLE 354200 0 12800
ENDOSONICS CORP COMMON 29264K105 2760 424600 SH SOLE 424600 0 0
FAIRFIELD COMMUNITIES COM PAR $0.01 304231301 626 70000 SH SOLE 33000 0 37000
FIRST CASH FINL SVCS INC COMMON 31942D107 1191 130500 SH SOLE 130500 0 0
FORE SYSTEMS INC COMMON 345449102 3231 170900 SH SOLE 138500 0 32400
GENE LOGIC INC COMMON 368689105 2474 507500 SH SOLE 507500 0 0
GENELABS TECHNOLOGIES IN COMMON 368706107 3245 1597600 SH SOLE 597600 0 0
GENESCO INC COMMON 371532102 5119 553400 SH SOLE 553400 0 0
GETTY IMAGES INC COMMON 374276103 2961 141000 SH SOLE 111300 0 29700
GILEAD SCIENCES INC COMMON 375558103 4941 108600 SH SOLE 91600 0 17000
GLOBAL INDUSTRIES LTD COMMON 379336100 3691 364500 SH SOLE 309100 0 55400
GO2NET INC COMMON 383486107 345 2600 SH SOLE 1500 0 1100
HAPPY KIDS INC COMMON 411391105 1565 156450 SH SOLE 140600 0 15850
HI / FN INC COMMON 428358105 5718 152490 SH SOLE 141290 0 11200
HINES HORTICULTURE INC COMMON 433245107 1683 204000 SH SOLE 204000 0 0
IMAGE ENTERTAINMENT COM NEW 452439201 1994 339400 SH SOLE 339400 0 0
IMPCO TECHNOLOGIES INC COM NEW 45255W106 6272 611900 SH SOLE 582300 0 29600
INFORMATION RESOURCE ENG COM PAR $0.01 45675F303 5795 370900 SH SOLE 370900 0 0
INTEGRAL SYS INC MD COMMON 45810H107 414 23000 SH SOLE 23000 0 0
JUST FOR FEET INC COMMON 48213P106 2025 162000 SH SOLE 146000 0 16000
KOPIN CORP COMMON 500600101 4634 335500 SH SOLE 335500 0 0
LOEWS CINEPLEX ENTMT COMMON 540423100 796 80100 SH SOLE 69100 0 11000
MDSI MOBILE DATA SOLUTIO COMMON 55268N100 9831 666500 SH SOLE 666500 0 0
MARINE DRILLING COS INC COM PAR $0.01 568240204 1606 146000 SH SOLE 146000 0 0
METZLER GROUP INC COMMON 592903108 1741 55500 SH SOLE 47900 0 7600
MICREL INC COMMON 594793101 1352 27000 SH SOLE 24400 0 2600
MILLER INDUSTRIES INC COMMON 600551105 1962 413000 SH SOLE 413000 0 0
MODACAD INC COMMON 60749P104 1987 165600 SH SOLE 165600 0 0
MODEM MEDIA POPPE TYSON CL A 607533106 2680 62500 SH SOLE 53400 0 9100
MOVIE GALLERY INC COMMON 624581104 1180 222100 SH SOLE 222100 0 0
NPC INTERNATIONAL INC COMMON 629360306 12189 780100 SH SOLE 714700 0 65400
NUCO2 INC COMMON 629428103 4317 645500 SH SOLE 619500 0 26000
NATIONAL DATA CORP COMMON 635621105 3444 82000 SH SOLE 61700 0 20300
NEOPHARM INC COMMON 640919106 2455 123500 SH SOLE 123500 0 0
NEW ERA OF NETWORKS INC COMMON 644312100 6369 94000 SH SOLE 87400 0 6600
NEWSEDGE CORP COMMON 65249Q106 1786 210100 SH SOLE 210100 0 0
NIELSEN MEDIA RESEARCH COM NEW 653929307 959 38850 SH SOLE 18750 0 20100
NORTHERN TECH INTL CORP COMMON 665809109 1904 287400 SH SOLE 287400 0 0
NOVA CORP GA COMMON 669784100 7603 289637 SH SOLE 241887 0 47750
NOVOSTE CORP COMMON 67010C100 3082 128400 SH SOLE 128400 0 0
OPTIMARK TECHNOLOGIES B CV PFD 683990204 500 50000 SH SOLE 50000 0 0
OPTIMARK TECHNOLOGIES INC 683994107 1000 100000 SH SOLE 100000 0 0
ORCAD INC COMMON 685568107 6225 743300 SH SOLE 743300 0 0
ORTHODONTIC CTRS AMER IN COMMON 68750P103 6439 408800 SH SOLE 353000 0 55800
OXFORD HEALTH PLANS INC COMMON 691471106 839 53700 SH SOLE 45800 0 7900
PRI AUTOMATION INC COMMON 69357H106 315 15000 SH SOLE 15000 0 0
PACIFIC SUNWEAR CALIF IN COMMON 694873100 9139 263000 SH SOLE 263000 0 0
PAREXEL INTL CORP COMMON 699462107 817 39500 SH SOLE 19000 0 20500
PAUL HARRIS STORES INC COM NEW 703555201 2537 344000 SH SOLE 344000 0 0
PERCLOSE INC COMMON 71361C107 3469 111900 SH SOLE 109500 0 2400
PHOTON DYNAMICS INC COMMON 719364101 4523 574300 SH SOLE 574300 0 0
PINNACLE HOLDINGS INC COMMON 72346N101 1084 71700 SH SOLE 34100 0 37600
POWERWAVE TECHNOLOGIES I COMMON 739363109 568 20000 SH SOLE 9400 0 10600
PROXIM INC COMMON 744284100 3349 116500 SH SOLE 116500 0 0
RARE HOSPITALITY INTL IN COMMON 753820109 2717 197600 SH SOLE 197600 0 0
REALTY INFORMATION GROUP COMMON 75612B107 1404 48000 SH SOLE 48000 0 0
RENT WAY INC COMMON 76009U104 11530 480400 SH SOLE 438400 0 42000
SANGSTAT MED CORP COMMON 801003104 2163 174800 SH SOLE 163600 0 11200
SCOTTS CO CL A 810186106 770 20600 SH SOLE 9900 0 10700
SELECT COMFORT CORP COMMON 81616X103 2815 101000 SH SOLE 80000 0 21000
SOFTNET SYS INC COMMON 833964109 5468 149300 SH SOLE 149300 0 0
SUIZA FOODS CORP COMMON 865077101 2377 70550 SH SOLE 61900 0 8650
TELETECH HOLDINGS INC COMMON 879939106 7530 1147400 SH SOLE 800 0 146600
U S HOME & GARDEN INC COMMON 902939107 2301 511400 SH SOLE 511400 0 0
UNITED RETAIL GROUP INC COMMON 911380103 3196 277900 SH SOLE 277900 0 0
URBAN OUTFITTERS INC COMMON 917047102 4053 288200 SH SOLE 288200 0 0
VERISIGN INC COMMON 92343E102 14014 91000 SH SOLE 77600 0 13400
WESLEY JESSEN VISIONCARE COMMON 951018100 10822 392650 SH SOLE 392650 0 0
WESTOWER CORP COMMON 96121E101 516 18400 SH SOLE 8700 0 9700
WINFIELD CAP CORP COMMON 973859101 1801 89200 SH SOLE 89200 0 0
ZALE CORP NEW COMMON 988858106 728 21300 SH SOLE 10000 0 11300
ZOMAX OPTICAL MEDIA INC COMMON 989929104 3669 182300 SH SOLE 182300 0 0
ORCKIT COMMUNICATIONS LT COMMON M7531S107 27115 1302800 SH SOLE 240200 0 62600
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