UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Stein Roe Floating Rate Limited Liability Company
(Name of Issuer)
Limited Liability Company Interests
(Title of Securities)
85842R103
(CUSIP Number)
December 31, 1998
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which
this Schedule is filed:
[X] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to
the subject class of securities, and for any subsequent amendment
containing information which would alter the disclosures provided
in a prior cover page
The information required in the remainder of this cover page
shall not be deemed to be "filed" for the purpose of Section 18
of the Securities Exchange Act (the "Act") or otherwise subject
to the liabilities of that section of the Act but shall to all
other provisions of the Act (however, see the Notes).
Potential persons who are to respond to the collection of
information contained in this form are not required to respond
unless the form displays a currently valid OMB control number.
CUSIP No. 85842R103
1. Name of Reporting Person
I.R.S. Identification No. of above persons (entities only).
Stein Roe Institutional Floating Rate Income Fund
Taxpayer I.D. #36-4251183
2. Check the Appropriate Box is a Member of a Group (See
Instructions)
Not applicable
3. SEC Use Only
4. Citizenship or Place of Organization
Massachusetts business trust
Number of Shares Beneficially owned by The Reporting Person With:
5. Sole Voting Power: $42,528,382 value of interests
6. Shared Voting Power: None
7. Sole Dispositive Power: $42,528,382 value of interests
8. Shared Dispositive Power: None
9. Aggregate Amount Beneficially Owned by the Reporting Person
$42,528,382 value of interests
10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares (See Instructions) Not applicable
11. Percent of Class represented by Amount in Row (9) 99%
12. Type of Reporting Person (See Instructions) IV
Item 1.
(a) Name of Issuer:
Stein Roe Floating Rate Limited Liability Company
(b) Address of Issuer's Principal Executive Offices
One South Wacker Drive
Suite 3300
Chicago, IL 60606
Item 2.
(a) Name of Person Filing
Stein Roe Institutional Floating Rate Income Fund
(b) Address of Principal Business Office
One South Wacker Drive
Suite 3300
Chicago, IL 60606
(c) Citizenship
Massachusetts business trust
(d) Title of Class of Securities
Limited Liability Company Interests
(e) CUSIP Number 85842R103
Item 3. If this statement is filed pursuant to Sec. 240.13d-1(b)
or 240.13d-2(b) or (c), check whether the person filing is a:
(d) [XX] Investment company registered under section 8
of the Investment Company Act of 1940 (15 U.S.C. 80a-8)
Item 4. Ownership
(a) Amount beneficially owned by the Reporting Person
$42,528,382 value of interests
(b) Percent of class 99%
(c) Number of shares as to which the Reporting Person has:
(i) Sole power to vote or to direct the vote:
$42,528,382 value of interests
(ii) Shared power to vote or to direct the vote: None
(iii) Sole power to dispose or to direct the disposition of:
$42,528,382 value of interests
(iv) Shared power to dispose or to direct the disposition
of: None
Item 5. Ownership of Five Percent or Less of a Class
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another
Person.
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent Holding
Company
Not applicable.
Item 8. Identification and Classification of Members of the Group
Not applicable.
Item 9. Notice of Dissolution of the Group
Not applicable.
Item 10. CERTIFICATION:
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired
and are held in the ordinary course of business and were not
acquired and are not held for the purpose of or with the
effect of changing or influencing the control of the issuer
of the securities and were not acquired and are not held in
connection with or as a participant in any transaction having
that purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
statement is true, complete and correct.
Date: February 11, 1999
STEIN ROE INSTITUTIONAL FLOATING RATE INCOME FUND
By: /s/ Thomas W. Butch
Thomas W. Butch
President
