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 [X]; Amendment Number: 5
This Amendment (check only one): [X] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: RLH Management
Address: 1114 Avenue of the Americas
New York, NY 10036
13F File Number: 28-6874
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: Richard L. Haydon
Title: Managing General Partner
Phone: (212) 277-5606
Signature, Place, and Date of Signing:
/s/ Richard L. Haydon New York, NY
[Signature] [City, State]
May 4, 1999
[Date]
<PAGE>
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>
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 55
Form 13F Information Table Value Total: $ 108,522
(thousands)
List of Other Included Managers:
NONE
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<TABLE>
<CAPTION>
FORM 13F INFORMATION TABLE
COLUMN 6
INVEST-
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 MENT COLUMN 7 COLUMN 8
TITLE VALUE SHRS OR SH/ PUT/ DISCRE- OTHER VOTING AUTHORITY
NAME OF ISSUER OF CLASS CUSIP (x$1000) PRN AMT PRN CALL TION MANAGERS SOLE SHARED NONE
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ADVANTICA RESTAURANT
GROUP INC COM 00758B 10 9 $1,817 363,443 SOLE 363,443
ARK RESTAURANTS CORP COM 040712 10 1 $198 19,600 SOLE 19,600
BEC ENERGY COM 05538M 10 1 $735 20,000 SOLE 20,000
BEVERLY ENTERPRISES INC COM 087851 10 1 $2,543 496,100 SOLE 496,100
COLE NATIONAL CORP CL A 193290 10 3 $5,488 300,700 SOLE 300,700
CONSORCIO G GRUPO DINA SA CV COM 210306 20 5 $36 30,000 SOLE 30,000
CORAM HEATHCARE CORP COM 218103 10 9 $3,567 1,840,804 SOLE 1,840,804
COYOTE NETWORK SYSTEMS INC COM 22406P 10 8 $1,435 244,380 SOLE 244,380
DELTA WOODSIDE INDS INC NEW COM 247909 10 4 $422 87,700 SOLE 87,700
EASTERN UTILS ASSOC COM 277173 10 0 $702 24,800 SOLE 24,800
EDISON INTL COM 281020 10 7 $4,350 195,500 SOLE 195,500
EL PASO ELEC CO COM NEW 283677 85 4 $2,240 289,000 SOLE 289,000
ENTERGY CORP NEW COM 29364G 10 3 $220 8,000 SOLE 8,000
FLANDERS CORP COM 338494 10 7 $76 30,000 SOLE 30,000
FOAMEX INTL INC COM 344123 10 4 $102 18,100 SOLE 18,100
FRANCHISE FIN CORP AMER COM 351807 10 2 $1,264 60,000 SOLE 60,000
GREYHOUND LINES INC SB DEB CV 8.5%07 398048 AD 0 $318 10,000 SOLE 10,000
GRIFFON CORP COM 398433 10 2 $3,375 490,850 SOLE 490,850
HAWAIIAN AIRLS INC NEW COM 419849 10 4 $2,113 786,416 SOLE 786,416
HUSSMAN INTL INC COM 448110 10 6 $367 25,000 SOLE 25,000
ILLINOVA CORP COM 452317 10 0 $1,059 50,000 SOLE 50,000
KEYSPAN ENERGY COM 49337K 10 6 $754 30,000 SOLE 30,000
KEYSTONE AUTOMOTIVE COM 49338N 10 9 $950 58,400 SOLE 58,400
INDS INC
LAIDLAW INC COM 50730K 50 3 $232 40,000 SOLE 40,000
LOEWEN GROUP INC COM 54042L 10 0 $69 38,000 SOLE 38,000
MARINER POST-ACUTE COM 568459 10 1 $23 10,719 SOLE 10,719
NETWORK INC
MIDCAP SPDR TR UNIT SER 1 595635 10 3 $1,792 26,000 SOLE 26,000
MILLER HERMAN INC COM 600544 10 0 $183 10,000 SOLE 10,000
MINNESOTA PWR INC COM 604110 10 6 $233 11,800 SOLE 11,800
MARK IV INDS INC COM 570387 10 0 $3,600 276,923 SOLE 276,923
MAXIM GROUP INC COM 57772J 10 4 $131 15,400 SOLE 15,400
NAVISTAR INTL CORP NEW COM 63934E 10 8 $3,978 99,000 SOLE 99,000
NOVELL INC COM 670006 10 5 $5,869 233,000 SOLE 233,000
O'SULLIVAN INDS HLDGS INC COM 688609 10 6 $5,791 419,200 SOLE 419,200
PENN TREATY AMERN CORP COM 707874 10 3 $1,551 62,500 SOLE 62,500
PHARMERICA INC COM 717135 10 7 $2,211 442,334 SOLE 442,334
PHILIP SERVICES CORP COM 71819M 10 3 $1,023 2,499,900 SOLE 2,499,900
PLATINUM TECHNOLOGY INC COM 72764T 10 1 $7,115 279,000 SOLE 279,000
PRIME HOSPITALITY CORP COM 741917 10 8 $6,802 684,530 SOLE 684,530
<PAGE>
COLUMN 6
INVEST-
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 MENT COLUMN 7 COLUMN 8
TITLE VALUE SHRS OR SH/ PUT/ DISCRE- OTHER VOTING AUTHORITY
NAME OF ISSUER OF CLASS CUSIP (x$1000) PRN AMT PRN CALL TION MANAGERS SOLE SHARED NONE
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
PUBLIC SVC ENTERPRISE GROUP COM 744573 10 6 $2,223 58,200 SOLE 58,200
PULITZER PUBG CO COM 745771 10 5 $483 6,000 SOLE 6,000
QUADRAMED CORP COM 74730W 10 1 $674 88,400 SOLE 88,400
QUIXOTE CORP COM 749056 10 7 $228 20,000 SOLE 20,000
REYNOLDS METALS CO COM 761763 10 1 $483 10,000 SOLE 10,000
SCHWAB CHARLES CORP NEW COM 808513 10 5 $1,154 12,000 SOLE 12,000
SIZZLER INTL INC COM 830139 10 1 $411 212,100 SOLE 212,100
SUN HEALTHCARE GROUP INC COM 866933 10 4 $29 29,000 SOLE 29,000
US VISION INC COM 009033 9M 1 $149 35,000 SOLE 35,000
UNISYS CORP COM 909214 10 8 $7,713 278,590 SOLE 278,590
UNISYS CORP PFD A CV $3.75 909214 20 7 $294 5,665 SOLE 5,665
UTILICORP UTD INC COM 918005 10 9 $333 14,625 SOLE 14,625
VENCOR INC NEW COM 92260R 10 2 $29 22,000 SOLE 22,000
VISION TWENTY-ONE INC COM 92831N 10 1 $71 19,000 SOLE 19,000
WANG LABS INC NEW COM 93369N 10 9 $11,104 564,919 SOLE 564,919
WESTERN RES INC COM 959425 10 9 $8,410 315,100 SOLE 315,100
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