ING BARING FURMAN SELZ LLC
13F-HR, 1999-04-27
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<PAGE>

                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    Form 13F

                              Form 13F COVER PAGE

Report for the Calendar Year or Quarter Ended:  3/31/99
                                               ------------

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:  ING Baring Furman Selz LLC
       -----------------------------------
Address: 230 Park Avenue
        ----------------------------------
         NY, NY 10169
        ----------------------------------

Form 13F File Number: 28-7338
                         -----------------

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:  Steven D. Blecher
       ------------------------------------
Title:   Vice Chairman
       ------------------------------------
Phone:   212-309-8373
       ------------------------------------

Signature, Place, and Date of Signing:

     Steven D. Blecher        New York, NY              4/13/99
- -------------------------  ------------------         -----------
       (Signature)           (City, State)              (Date)

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).)


List of Other Managers Reporting for this Manager:
[If there are no entries in this list, omit this section.]

         Form 13F File Number               Number

         28-
            -----------------               ----------------------------------
         [Repeat as necessary.]
<PAGE>

                             Form 13F SUMMARY PAGE


Report Summary:


Number of Other Included Managers:                                  0
                                                               ------------
Form 13F Information Table Entry Total:                            143
                                                               ------------
Form 13F Information Table Value Total:                          $286,593
                                                               ------------
                                                               (thousands)

List of Other Included Managers:

Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.

[If there are no entries in this list, state "NONE" and omit the column
headings and list entries.]

    No.            Form 13F File Number                Name

                   28-                               NONE
   ----                 -----------                   -------------------

[Repeat as necessary.]
<PAGE>

ING BARING FURMAN SELZ LLC
13-F QUARTERLY FILING as of 3/31/99

<TABLE>
<CAPTION>
                                                                                                                VOTING AUTHORITY
                                                                                                              --------------------
                                TITLE OF                VALUE    SHARES/    SH/    PUT/  INVSTMT     OTHER 
        NAME OF ISSUES           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>
ABACUS DIRECT CORP                COM     002553105    11,480    140,000    SH             SOLE              140,000
AIRGAS INC                        COM     009363102       490     58,500    SH             SOLE               58,500
AKORN INC                         COM     009728106       158     38,000    SH             SOLE               38,000
AMERICA ONLINE INC-DEL            COM     02364J104    14,682    100,000    SH             SOLE              100,000
AMERIN CORP                       COM     03070X106       223     11,000    SH             SOLE               11,000
AMNEX INC NEW                     COM     031674203        23     90,000    SH             SOLE               90,000
ASPECT DEVELOPMENT INC            COM     045234101     2,555    110,000    SH             SOLE              110,000
ASTORIA FINANCIAL CORP            COM     046265104       850     17,000    SH             SOLE               17,000
AUSPEX SYSTEMS INC                COM     052116100       359     17,100    SH             SOLE               17,100
AUTOWEB.COM INC COM               COM     053331104     1,172     32,900    SH             SOLE               32,900
BMC SOFTWARE INC                  COM     055921100     2,965     80,000    SH             SOLE               80,000
BANCTEC INC                       COM     059784108       677     55,000    SH             SOLE               55,000
BANK PLUS CORP                    COM     064446AA5       413    500,000    SH             SOLE              500,000
***TELEWEST COMMUNICATIONS PLC    COM     0654452       5,319    729,457    SH             SOLE              729,457
BERKSHIRE REALTY CO INC           COM     084710102       822     73,500    SH             SOLE               73,500
BLUE RINO CORP                    COM     095811105     1,805    137,500    SH             SOLE              137,500
BOSTON LIFE SERVICES INC NEW      COM     100843408       307     42,700    SH             SOLE               42,700
BRASS EAGLE INC                   COM     10553F106     1,928    107,500    SH             SOLE              107,500
CNA FINANCIAL CORP                COM     126117100       194      5,000    SH             SOLE                5,000
CAREY INTERNATIONAL INC           COM     141750109     1,939    120,000    SH             SOLE              120,000
CELL THERAPEUTIC INC NEW          COM     150934107       178     51,500    SH             SOLE               51,500
CELLULAR COMMUNICATIONS P R       COM     15116N108     1,418     52,500    SH             SOLE               52,500
CENDANT CORP                      COM     151313103     3,022    190,000    SH             SOLE              190,000
CENTRAL PARKING CORP              COM     154785109     3,450    100,000    SH             SOLE              100,000
CENTRIS GROUP INC (THE)           COM     155904105     1,754    166,100    SH             SOLE              166,100
CHANCELLOR MEDIA CORP             COM     158915108     3,769     80,000    SH             SOLE               80,000
CITRIX SYSTEMS                    COM     177376100    16,212    425,500    SH             SOLE              425,500
COMPUWARE CORP                    COM     205638109     7,521    315,000    SH             SOLE              315,000
CONSECO INC                       COM     208464107     1,544     50,000    SH             SOLE               50,000
CONSOLIDATED GRAPHICS INC. - T    COM     209341106     8,663    150,000    SH             SOLE              150,000
CORPORATE EXECUTIVE BOARD CO      COM     21988R102       132      5,000    SH             SOLE                5,000
CRITICAL PATH INC COM             COM     22674V100     4,086     60,500    SH             SOLE               60,500
CYTYC CORP                        COM     232946103     1,215     87,500    SH             SOLE               87,500
DATA TRANSMISSION NETWORK CORP    COM     238017107     4,369    183,000    SH             SOLE              183,000
DIAMOND HOME SERVICES INC         COM     252648100       188     47,000    SH             SOLE               47,000
DISPATCH MANAGEMENT SERVICES      COM     254927106     1,020    362,500    SH             SOLE              362,500
DIXON TICONDEROGA CO              COM     255860108       659     62,000    SH             SOLE               62,000
DOLLAR GENERAL CORP               COM     256669102     4,080    120,000    SH             SOLE              120,000
DOUBLECLICK INC                   COM     258609304     4,879     26,800    SH             SOLE               26,800
DUCKWALL ALCO STORES INC NEW      COM     264142100       315     32,300    SH             SOLE               32,300
E TRADE GROUP INC                 COM     269246104     2,624     45,000    SH             SOLE               45,000
*** REACTIVOS NACIONAL            COM     2727017          19    475,924    SH             SOLE              475,924
FINOVA GROUP INC                  COM     317928109     1,504     29,000    SH             SOLE               29,000
FLEXI INTERNATIONAL SOFTWARE I    COM     338923105       120    113,000    SH             SOLE              113,000
</TABLE>
<PAGE>

ING BARING FURMAN SELZ LLC
13-F QUARTERLY FILING as of 3/31/99

<TABLE>
<CAPTION>
                                                                                                                VOTING AUTHORITY
                                                                                                              --------------------
                                TITLE OF                VALUE    SHARES/    SH/    PUT/  INVSTMT     OTHER 
        NAME OF ISSUES           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>
GRC INTERNATIONAL INC             COM     361922107        97     14,600    SH             SOLE               14,600
GENERAL INSTRUMENT CORP-DEL       COM     370120107       606     20,000    SH             SOLE               20,000
GENESYS TELECOMMUNICATIONS        COM     371931106       527     35,000    SH             SOLE               35,000
GLOBALSTAR L P CAP CORP SR NOT    COM     379363AK0       158    250,000    SH             SOLE              250,000
GLOBALSTAR L P / GLOBALSTAR       COM     379363AR5       156    250,000    SH             SOLE              250,000
GRAND UN CO                       COM     386532402     1,096     97,500    SH             SOLE               97,500
***GREENSTONE RESOURCES LTD       COM     39573WAB0       167    545,000    SH             SOLE              545,000
***GUCCI GROUP NV                 COM     401566104       161      2,000    SH             SOLE                2,000
HNC SOFTWARE INC                  COM     40425P107     1,778     54,300    SH             SOLE               54,300
HARKEN ENERGY CORP                COM     412552101        41     25,000    SH             SOLE               25,000
HEALTHPLAN SERVICES CORP          COM     421959107       243     34,400    SH             SOLE               34,400
IGEN INC                          COM     449536101       338     14,100    SH             SOLE               14,100
***ISG TECHNOLOGIES INC           COM     45021P302       276     83,400    SH             SOLE               83,400
IXC COMMUNICATIONS INC            COM     450713102       344      7,500    SH             SOLE                7,500
IMRGLOBAL CORP                    COM     45321W106     5,059    285,000    SH             SOLE              285,000
INAMED CORP                       COM     453235103     2,671    202,000    SH             SOLE              202,000
INDUS INTERNATIONAL INC           COM     45578L100        89     20,000    SH             SOLE               20,000
INFOSPACE COM INC                 COM     45678T102       355      4,000    SH             SOLE                4,000
INKTOMI CORP                      COM     457277101     1,371     16,000    SH             SOLE               16,000
INTERNATIONAL NETWORK SERVICES    COM     460053101     1,399     20,000    SH             SOLE               20,000
INTERNATIONAL TELECOMMUNI-        COM     46047F104     1,087     88,150    SH             SOLE               88,150
INTRAWARE INC                     COM     46118M103     2,804     70,000    SH             SOLE               70,000
JONES PHARMA INC                  COM     480236108     1,560     45,000    SH             SOLE               45,000
LAMAR ADVERTISING CO - CL A       COM     512815101       933     27,500    SH             SOLE               27,500
LEGATO SYSTEMS INC                COM     524651106     2,063     40,000    SH             SOLE               40,000
LIMITED INC                       COM     532716107     1,169     29,500    SH             SOLE               29,500
MEDIAONE GROUP INC                COM     58440J104     1,301     20,500    SH             SOLE               20,500
MERCURY INTERACTIVE CORP          COM     589405109     8,817    247,500    SH             SOLE              247,500
METROMEDIA INTERNATIONAL GROUP    COM     591695101       528    108,300    SH             SOLE              108,300
MICROAGE INC CL-A VTG W/RTS       COM     594928103       167     31,000    SH             SOLE               31,000
MICRO THERAPEUTICS INC NEW        COM     59500W100        94     14,500    SH             SOLE               14,500
MORTONS RESTAURANT GROUP INC      COM     619429103     1,271     82,000    SH             SOLE               82,000
MOTIVEPOWER INDUSTRIES INC        COM     61980K101       251     10,000    SH             SOLE               10,000
MUSICLAND STORES CORP             COM     62758B109     1,796    200,000    SH             SOLE              200,000
MYRIAD GENETICS INC               COM     62855J104       549     61,000    SH             SOLE               61,000
NTL INCORPORATED                  COM     629407107    28,230    346,915    SH             SOLE              346,915
NAVISTAR INTERNATIONAL CORP NE    COM     63934E108       100      2,500    SH             SOLE                2,500
OCWEN ASSET INVESTMENT CORP       COM     67574M106       302     81,800    SH             SOLE               81,800
ONEMAIN.COM INC COM               COM     68267P109     5,800    160,000    SH             SOLE              160,000
OPEN MARKET INC                   COM     68370M100       226     17,500    SH             SOLE               17,500
O REILLY AUTOMOTIVE INC           COM     686091109     4,519    101,000    SH             SOLE              101,000
***TECHTRONIC INDUSTRIES CO       COM     6879776         260  1,502,000    SH             SOLE            1,502,000
PLD TELEKOM INC-DEL               COM     69340T100       302     78,000    SH             SOLE               78,000
PRI AUTOMATION INC                COM     69357H106     1,468     70,000    SH             SOLE               70,000
</TABLE>
<PAGE>

ING BARING FURMAN SELZ LLC
13-F QUARTERLY FILING as of 3/31/99

<TABLE>
<CAPTION>
                                                                                                                VOTING AUTHORITY
                                                                                                              --------------------
                                TITLE OF                VALUE    SHARES/    SH/    PUT/  INVSTMT     OTHER 
        NAME OF ISSUES           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>
THE PEPSI BOTTLING GROUP INC      COM     713409100     1,097     50,600    SH             SOLE               50,600
PEREGRINE SYSTEMS INC             COM     71366Q101     1,679     50,000    SH             SOLE               50,000
PHILIP MORRIS COMPANIES INC       COM     718154107       862     24,500    SH             SOLE               24,500
PHYCOR INC                        COM     71940F100       356     75,000    SH             SOLE               75,000
PINNACLE HOLDINGS INC             COM     72346N101     3,776    250,000    SH             SOLE              250,000
PLATINUM ENTERTAINMENT INC        COM     727909103       414     65,000    SH             SOLE               65,000
POINT WEST CAPITAL CORP           COM     730715109       272     25,000    SH             SOLE               25,000
PREMIER PARKS INC NEW             COM     740540208     9,886    265,400    SH             SOLE              265,400
PROFIT RECOVERY GROUP             COM     743168106     9,080    230,000    SH             SOLE              230,000
QUANTA SERVICES INC               COM     74762E102       201      7,900    SH             SOLE                7,900
RATIONAL SOFTWARE CORP            COM     75409P202     2,010     75,000    SH             SOLE               75,000
REGISTRY MAGIC INC                COM     75913K103       244     27,500    SH             SOLE               27,500
RENAISSANCE WORLDWIDE INC         COM     75968A109       309     50,000    SH             SOLE               50,000
RITE AID CORP                     COM     767754104       620     24,800    SH             SOLE               24,800
SCC COMMUNICATIONS CORP           COM     78388X105       436    142,500    SH             SOLE              142,500
SAFEGUARD SCIENTIFICS INC         COM     786449108     2,027     30,000    SH             SOLE               30,000
ST JUDE MEDICAL INC               COM     790849103       731     30,000    SH             SOLE               30,000
SAKS INC                          COM     79377W108       910     35,000    SH             SOLE               35,000
SEROLOGICALS HOLDINGS INC         COM     817523103     1,356    100,000    SH             SOLE              100,000
SIEBEL SYSTEMS INC                COM     826170102     3,559     75,000    SH             SOLE               75,000
SMITH-GARDNER & ASSO INC          COM     832059109       921     65,000    SH             SOLE               65,000
SNYDER COMMUNICATIONS INC         COM     832914105       279     10,000    SH             SOLE               10,000
STERLING COMMERCE INC             COM     859205106     1,107     36,000    SH             SOLE               36,000
STORAGE TECHNOLOGY CORP NEW       COM     862111200       878     31,500    SH             SOLE               31,500
SYBRON CORP-DEL                   COM     87114F106       238      9,500    SH             SOLE                9,500
THQ INC NEW                       COM     872443403     1,645     80,750    SH             SOLE               80,750
TESCO CORP RESTRICTED             COM     872876998       421    100,500    SH             SOLE              100,500
TSI INTERNATIONAL SOFTWARE LTD    COM     872879101     1,024     21,000    SH             SOLE               21,000
TMP WORLDWIDE INC                 COM     872941109     2,074     32,000    SH             SOLE               32,000
TECHNOLOGY SOLUTIONS CO           COM     87872T108     1,603    225,000    SH             SOLE              225,000
TERADYNE INC                      COM     880770102     1,861     34,100    SH             SOLE               34,100
***TESCO CORP                     COM     88157K101       314     75,000    SH             SOLE               75,000
TETRA TECHNOLOGIES INC - DEL      COM     88162F105       338     50,000    SH             SOLE               50,000
TICKETMASTER ONLINE-CITY SEARC    COM     88633P203     2,690     80,000    SH             SOLE               80,000
TRAVEL SERVICES INTERNATIONAL     COM     894169101     2,048    195,000    SH             SOLE              195,000
TRIMERIS INC                      COM     896263100       191     15,000    SH             SOLE               15,000
UCAR INTERNATIONAL INC            COM     90262K109       170     12,000    SH             SOLE               12,000
UUCAR INTERNATIONAL INC           COM     90262K109       650     46,000    SH             SOLE               46,000
U S FRANCHISE SYSTEMS INC CL-A    COM     902956101     1,243     85,000    SH             SOLE               85,000
UNILAB CORP                       COM     904763109       227     71,200    SH             SOLE               71,200
UNITED INTERNATIONAL HOLDINGS     COM     910734102     7,365    169,500    SH             SOLE              169,500
USWEB CORP                        COM     917327108     6,184    150,000    SH             SOLE              150,000
CANARC RESOURCE CORP RSTD         COM     9300229          36    250,500    SH             SOLE              250,500
PREDICTIVE HOLDINGS INC RSTD      COM     9303050C        136     10,200    SH             SOLE               10,200
</TABLE>
<PAGE>

ING BARING FURMAN SELZ LLC
13-F QUARTERLY FILING as of 3/31/99

<TABLE>
<CAPTION>
                                                                                                                VOTING AUTHORITY
                                                                                                              --------------------
                                TITLE OF                VALUE    SHARES/    SH/    PUT/  INVSTMT     OTHER 
        NAME OF ISSUES           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>
WARNER-LAMBERT CO                 COM     934488107     1,027     15,500    SH             SOLE               15,500
***GREENSTON RESOURCES LTD        COM     9380965          18     97,000    SH             SOLE               97,000
WASTE SYSTEMS INTL INC            COM     94106PAF7       500    500,000    SH             SOLE              500,000
WESTOWER CORP                     COM     96121E101       561     20,000    SH             SOLE               20,000
WITCO CORP                        COM     977385103       174     13,800    SH             SOLE               13,800
WORLD ACCESS INC                  COM     98141A101       154     19,000    SH             SOLE               19,000
WORLDWATER CORP                   COM     98155N106       105    285,000    SH             SOLE              285,000
*** ASHANTI GSM LTD-PREF          COM     A002673         153     65,778    SH             SOLE               65,778
***CORECOMM LIMITED               COM     G2422R109     2,219     60,500    SH             SOLE               60,500
***GEMSTAR INTERNATIONAL GROUP    COM     G3788V106     4,434     59,000    SH             SOLE               59,000
TRINITY WORKS                     COM     TRNTW999        150     60,000    SH             SOLE               60,000
                                                     --------

                                 TOTAL MARKET VALUE   286,593
                                                     ========
</TABLE>



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