UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 13F
FORM 13F Cover Page
Report for the Calendar Year or Quarter Ended: June 30, 1999
Check here if Amendment [X]; Amendment Number:1
This Amendment (Check only one): [X] is a restatement.
[ ] adds new holding entries.
Institutional Investment Manager Filing this Report:
Name: Hester Capital Management L.L.C.
Address: 100 Congress Ave # 1960
Austin, Texas 78701
13F File Number:
The institutional investment manager filing this report and
the person by whom it is signed hereby represents 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 the Report on Behalf of Reporting Manager:
Name: I. Craig Hester
Title: President and CEO
Phone: (512) 474-6657
Signature, Place and Date of Signing:
/s/ I. Craig Hester Austin, Texas August 6, 1999
Report Type (Check only one):
[ X ] 13F HOLDINGS REPORT
[ ] 13F NOTICE
[ ] 13F COMBINATION REPORT
List of Other Managers Reporting for this Manager:
None
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES
EXCHANGE ACT OF 1934.
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
FORM 13F Information Table Entry Total: 203
FORM 13F Information Table Value Total: 481,445,009
List of Other Included Mangers:
No. 13F File Number Name
None
Shares
Fair or
Class Cusip Market Prin
Name of Issuer Title Number Value Amount
Albertsons Inc csus 013104104 2,197,852 42,625 sole
Abbott Labs csus 002824100 626,175 13,800 sole
Adobe Systems csus 00724f101 8,314,212 101,200 sole
Allamerica Financial Corp csus 01975410 242,812 3,750 sole
Chancellor Media Corp Com csus 00169310 231,525 4,200 sole
Angelica csus 034663104 2,442,384 138,575 sole
Allergan, Inc. Common csus 018490102 3,691,749 33,259 sole
American Home Prod. Corp. csus 026609107 906,525 15,800 sole
American International Group csus 026874107 271,668 2,317 sole
AAR Corporation csus 000361105 2,476,545 109,159 sole
Ameritech Corp. csus 030954101 389,550 5,300 sole
Alcatel Sponsored ADRS csus 01390430 204,375 7,500 sole
Allied Signal Inc. csus 019512102 1,776,600 28,200 sole
American Greetings csus 026375105 1,127,428 37,425 sole
Ametek Aerospace Products csus 031105109 614,100 26,700 sole
Amgen Inc. csus 031162100 487,000 8,000 sole
Antec Corporation csus 03664P105 1,110,966 34,650 sole
America Online csus 02364j104 767,690 6,979 sole
Atlantic Richfield Company csus 048825103 4,819,467 57,675 sole
Arvin Industries csus 043339100 238,991 6,310 sole
Archstone Communities csus 039581103 835,819 38,100 sole
Auto Data Processing csus 053015103 343,200 7,800 sole
Avon Products csus 054303102 1,242,867 22,394 sole
Avnet csus 053807103 1,436,850 30,900 sole
Avery Dennison csus 053611109 2,104,069 34,850 sole
American Express Company csus 025816109 4,459,254 34,269 sole
Allegheny Energy Inc Com csus 01736110 219,628 6,850 sole
Boeing csus 097023105 533,104 12,116 sole
Bank Of America Corp csus 060505104 3,037,264 41,429 sole
Baxter csus 071813109 533,500 8,800 sole
Bell Atlantic Corp. csus 077853109 739,260 11,308 sole
Browning-Ferris Industries, In csus 115885105 3,133,625 72,875 sole
Birmingham Steel csus 091250100 88,931 20,925 sole
Bank Of New York Inc. csus 064057102 518,504 14,133 sole
Blair Corp csus 092828102 1,567,762 58,200 sole
Bellsouth Corporation csus 079860102 1,594,449 34,568 sole
Bristol-Myers Squibb Company csus 110122108 3,815,177 54,164 sole
Bowne & Co. csus 103043105 1,714,006 128,150 sole
Bob Evans Farms Inc. csus 096761101 2,596,172 130,625 sole
Bp Amoco Plc Ads csus 055622104 873,208 8,048 sole
Berkshire Hathaway Inc Del Cl csus 084670207 470,400 210 sole
Anheuser Busch Cos csus 035229103 2,056,904 28,996 sole
Citigroup csus 172967101 3,187,250 67,100 sole
Computer Assoc Intl Inc csus 204912109 307,914 5,624 sole
Cascade Corp. csus 147195101 1,720,600 122,900 sole
Caterpillar Inc. csus 149123101 801,000 13,350 sole
Cooper Industries, Inc. csus 216669101 1,399,632 26,916 sole
Cbrl Group Inc. csus 224100107 1,086,792 62,775 sole
Canandaigua Brands Inc. csus 137219200 3,311,428 63,150 sole
CBS Corporation csus 12490k10 364,685 8,300 sole
Crown Cork & Seal Co Inc csus 228255105 587,100 20,600 sole
Carnival Corp Com csus 14365810 492,275 10,150 sole
Clear Channel Comm. csus 184502102 5,758,273 83,529 sole
Chevron Corporation csus 166751107 1,619,390 17,035 sole
Citizens Inc. Cl A csus 174740100 58,750 10,000 sole
Clorox Co. csus 189054109 1,997,287 18,699 sole
Chase Manhattan Corp. csus 16161A108 2,263,705 26,170 sole
Conexant Systems, Inc. csus 207142100 563,845 9,711 sole
Columbia/Hca Healthcare csus 197677107 1,021,156 44,763 sole
3com Corp csus 885535104 511,599 19,170 sole
Compaq Computer Corp csus 204493100 1,025,929 43,311 sole
Camden Ppty Tr csus 133131102 424,168 15,285 sole
Crane Company csus 224399105 2,719,910 86,518 sole
Cisco Sys Inc. Common csus 17275R102 1,485,284 23,050 sole
Cuno csus 126583103 1,186,209 62,024 sole
Dupont Ei Denemours csus 263534109 1,622,080 23,745 sole
Deere & Co. csus 244199105 963,621 24,590 sole
Dell Computer Com csus 247025109 1,897,471 51,283 sole
Diageo P L C Spnsrd Adr New csus 25243q20 829,900 19,300 sole
Disney csus 254687106 2,649,875 86,000 sole
Delta & Pine Ld Co csus 247357106 221,602 7,035 sole
Deluxe Corp. csus 248019101 3,345,327 86,192 sole
Dun & Bradstreet Corporation csus 264830100 219,712 6,200 sole
Dover Corp csus 260003108 420,000 12,000 sole
Duke Energy csus 264399106 704,421 12,940 sole
Equifax Inc csus 944291053 331,894 9,300 sole
EG & G csus 268457108 2,810,812 78,900 sole
Eastman Kodak Co. csus 277461109 4,217,166 62,246 sole
EMC Corp. csus 268648102 717,640 13,048 sole
Eastman Chemical Company csus 277432100 862,414 16,665 sole
Emerson Electric Company csus 291011104 4,019,000 63,857 sole
Ethan Allen Interiors csus 297602104 6,210,743 164,523 sole
Ford Motor Company csus 345370100 370,456 6,564 sole
First Data Corporation csus 319963104 1,628,983 33,287 sole
Fleet Financial Group csus 338915101 1,226,525 27,640 sole
Federal Natl Mtg Assn csus 313586109 1,300,162 19,050 sole
Federal Home Ln Mtg Corp csus 313400301 1,277,856 22,032 sole
H.B. Fuller csus 359694106 1,962,362 28,700 sole
Gillette Company csus 375766102 3,456,956 84,316 sole
Gannett Co Inc Del csus 364730101 242,675 3,400 sole
General Electric Co. csus 369604103 22,321,907 197,539 sole
Giant Inds Inc Com csus 37450810 1,810,563 182,195 sole
Corning Inc. csus 219350105 2,245,753 32,025 sole
Glaxo Welcome Plc csus 37733W105 398,923 7,045 sole
Georgia Pacific csus 373298108 343,469 7,250 sole
Genuine Parts Co. csus 372460105 341,250 9,750 sole
Gte Corporation csus 362320103 952,734 12,619 sole
Hispanic Broadcasting Corp csus 43357b10 205,564 2,600 sole
Home Depot csus 437076102 1,591,477 24,698 sole
Hartford Financial Services csus 416515104 2,108,580 36,160 sole
Hancock Fabrics csus 409900107 486,719 111,250 sole
H. J. Heinz Co. csus 423074103 229,244 4,573 sole
Honeywell csus 438506107 293,164 2,530 sole
Harsco Corp. csus 415864107 428,000 13,375 sole
Hershey Foods Corp Com csus 427866108 1,741,469 29,330 sole
Hewlett Packard Company csus 428236103 9,175,750 91,301 sole
International Bus. Machine csus 459200101 6,926,249 53,588 sole
Intel Corp csus 458140100 8,359,809 140,501 sole
Illinois Tool Works csus 452308109 249,337 3,050 sole
Johnson & Johnson csus 478160104 4,049,654 41,323 sole
Kimberly-Clark Corporation csus 494368103 1,976,403 34,674 sole
Kn Energy Inc Com csus 48262010 866,620 64,794 sole
Coca-Cola csus 191216100 4,788,136 77,228 sole
Leviathan Gas Pipeline csus 527367106 789,075 33,400 sole
Lilly Industries csus 532491107 1,084,978 58,450 sole
Lilly Eli & Co. csus 532457108 617,980 8,628 sole
Lucent Technologies csus 549463107 8,480,614 125,755 sole
Southwest Airlines Co. csus 844741108 592,900 19,049 sole
Marriott Intl Inc csus 571900109 583,050 15,600 sole
Masco Corp csus 574599106 918,225 31,800 sole
Mcdonalds Corp. csus 580135101 4,363,362 106,100 sole
Medtronic Inc. csus 585055106 517,479 6,645 sole
Mead Corp. csus 582834107 478,037 11,450 sole
Mellon Bank Corp csus 585509102 3,071,214 84,432 sole
Mccormick & Co. Inc. csus 579780206 1,817,211 57,575 sole
Miller Herman csus 600544100 4,647,300 221,300 sole
Minnesota Mining & Mfg. Co. csus 604059105 6,948,480 79,925 sole
Philip Morris Cos. csus 718154107 1,952,148 48,576 sole
Mobil Corporation csus 607059102 5,258,042 53,246 sole
Motorola csus 620076109 2,529,256 26,694 sole
Marshall & Isley csus 571834100 257,500 4,000 sole
Merck & Company csus 589331107 5,138,289 69,790 sole
Microsoft Corporation csus 594918104 1,858,404 20,606 sole
Monsanto csus 611662107 336,281 8,500 sole
Nabisco Hldgs Corp Cl A csus 62952610 352,600 8,200 sole
National Auto Credit Inc. csus 63252r103 15,150 15,000 sole
Nike Inc Cl B csus 654106103 4,515,469 71,250 sole
Nokia Corporation csus 65490220 1,190,312 13,000 sole
Nuveen Insd Prem Incm Ii csus 6706D8104 190,332 14,928 sole
Norfolk Southern Corp. csus 655844108 256,062 8,500 sole
Nucor csus 670346105 633,291 13,350 sole
Office Depot csus 676220106 2,905,300 131,685 sole
Bank One Corp. New csus 06423a103 4,323,171 72,582 sole
Oracle Corporation csus 68389X105 5,525,741 148,841 sole
Occidental Petroleum csus 674599105 629,081 29,779 sole
Phillips Petroleum Company csus 718507106 402,500 8,000 sole
Paccar Inc. csus 693718108 1,725,347 32,325 sole
Pepsico, Inc. csus 713448108 3,356,063 86,748 sole
Pfizer Inc. csus 717081103 5,053,022 46,358 sole
Proctor & Gamble Co. csus 742718109 4,532,115 50,780 sole
Prologis csus 743410102 318,775 15,742 sole
Pharmacia & Upjohn Inc. csus 716941109 869,231 15,300 sole
Possis Medical csus 737407106 3,141,362 267,350 sole
Ralston Purina Co csus 751277302 2,480,656 81,500 sole
Royal Dutch Petroleum csus 780257705 1,756,046 29,146 sole
Regions Financial Corp csus 738940100 3,292,902 85,669 sole
Republic Group csus 760473108 1,028,610 57,145 sole
Rockwell csus 774347108 1,219,556 20,075 sole
Raytheon Cl. B csus 755111408 3,754,102 53,250 sole
Ims Health Inc. csus 449934108 212,500 6,800 sole
Sbc Communications csus 78387G103 5,807,482 100,129 sole
Smithkline Beecham Plc csus 832378301 964,512 14,600 sole
The Charles Schwab Corp. csus 808513105 269,775 2,475 sole
Scientific Atlanta csus 808655104 375,300 10,425 sole
Silicon Graphics csus 827056102 830,311 50,706 sole
Schering-Plough Corporation csus 806605101 3,475,395 66,198 sole
Schlumberger Ltd. csus 806857108 1,542,639 24,222 sole
Sara Lee Corp csus 803111103 682,758 30,094 sole
Standard Motor Products csus 853666105 463,050 18,900 sole
Simpson Industries csus 829060102 876,877 85,549 sole
Sonat Inc. csus 835415100 935,781 28,250 sole
Southern Company csus 842587107 361,195 13,630 sole
Sonoco csus 835495102 1,869,447 62,445 sole
Standard & Poor's Dep. Rcpt csus 78462F103 732,950 5,350 sole
Stride Rite Corp. csus 863314100 103,125 10,000 sole
St. Jude Med Inc csus 790849103 258,281 7,250 sole
Sun Microsystems Inc csus 866810104 433,912 6,300 sole
Sysco csus 871829107 232,537 7,800 sole
At&t Corp. csus 001957109 3,089,529 55,355 sole
Tandy Corp Com csus 875382103 942,408 19,282 sole
Tca Cable Tv Inc. csus 872241104 14,596,500 263,000 sole
Commercial Intertech csus 201709102 888,898 55,774 sole
Tenneco csus 880370101 414,231 17,350 sole
Tellabs Inc. csus 879664100 6,908,266 102,250 sole
Brown Tom Inc Com New csus 11566020 670,744 43,100 sole
Thomas & Betts csus 884315102 911,925 19,300 sole
Texaco, Inc. csus 881694103 4,136,024 66,309 sole
Texas Instruments Inc. csus 882508104 1,519,200 10,550 sole
Tyco csus 902120104 63,310,006 668,179 sole
Unocal Corp Com csus 915289102 875,712 22,100 sole
Us West Inc New csus 91273h101 216,196 3,680 sole
Vulcan Matls Co Com csus 92916010 1,293,100 26,800 sole
Vodafone csus 92857t10 590,310 2,996 sole
Mci Worldcom Inc. csus 98155K102 1,687,858 19,612 sole
Wells Fargo csus 949746101 9,075,440 212,291 sole
Whirlpool Corp. csus 963320106 4,520,290 61,085 sole
Warner Lambert Common csus 934488107 1,146,092 16,580 sole
Willamette Industries, Inc. csus 969133107 783,062 17,000 sole
Williams Cos Inc Del Com csus 969457100 330,577 11,574 sole
Wal Mart Stores Inc csus 931142103 6,069,850 125,800 sole
Wrigley Wm Jr Co csus 982526105 4,741,118 53,159 sole
Exxon Corporation csus 302290101 9,495,553 123,119 sole
Xerox Corp. csus 984121103 951,497 16,110 sole
