UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
"Washington, DC 20549"
FORM 13F
FORM 13F COVER PAGE
Report fo the Calender Year of Quarter Ended: 09/30/99
Check here if Amendment [ ]; Amendment Number: _________
This Amendement (Check only on[ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: BEL AIR INVESTMENT ADVISORS LLC
"Address; 1999 AVENUE OF THE STARS, SUITE 2800"
" LOS ANGELES, CA 90067"
13F File Number: Pending
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: MICHAEL A. SANCHEZ
Title: CHIEF COMPLIANCE OFFICER
Phone: 310-229-1529
"Signature, Place and Date of Signing:"
" MICHAEL A. SANCHEZ LOS ANGELES, CA November 4, 1999"
Report Type (Check only one.):
[ X ] 13 F 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: NONE
Form 13F Information Table Entry Total: 199
"Form 13F Information Table Value Total (x$1000): 1,442,094"
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FORM 13F INFORMATION TABLE
TITLE VALUE SHRS OR SH/PUT/ INVTMNT OTHER
NAME OF ISSUER OF CLASS CUSIP (x$1000) PRIN AMT PRNCALL DISC MGRS SOLE SHARED NONE
"AT&T CORP COM 001957109 2,581 59,343SH SOLE 0 0 0"
PUT AT&T CORP OCT 045 PUT 0019579v3 -5 -25SH PUT SOLE 0 0 0
CALL AT & T CORP JAN 50 CALL 03018c9a7 84 150SH CALL SOLE 0 0 0
"ABBOTT LABORATORIES COM 002824100 38,616 1,050,776SH SOLE 0 0 0"
"AMAZON.COM INC COM 023135106 341 4,280SH SOLE 0 0 0"
"AMERICA ONLINE INC-DEL COM 02364j104 13,069 125,668SH SOLE 0 0 0"
CALL AMERICAN ONL JAN 75 CALL 0236439a9 268 50SH CALL SOLE 0 0 0
CALL AMER ONLINE JAN 100 CALL 0236439a9 68 20SH CALL SOLE 0 0 0
PUT AMER ONLINE JAN 140 PUT 0236439m3 -145 -30SH PUT SOLE 0 0 0
CALL AMER ONLINE OCT 110 CALL 18799w9j7 -2 -7SH CALL SOLE 0 0 0
CALL AMER ONLINE OCT 100 CALL 18799w9j7 -15 -20SH CALL SOLE 0 0 0
CALL AMER ONLINE JAN 160 CALL 75899w9a5 66 40SH CALL SOLE 0 0 0
CALL AMER ONLINE JAN 180 CALL 75899w9a5 53 40SH CALL SOLE 0 0 0
CALL AMER ONLINE JAN 130 CALL 75899w9a5 47 20SH CALL SOLE 0 0 0
"AMERICAN EXPRESS CO COM 025816109 1,293 9,603SH SOLE 0 0 0"
CALL AMERN EXPRES OCT 150 CALL 0258169j0 -2 -40SH CALL SOLE 0 0 0
"AMERICAN HOME PUTS CORP COM 026609107 674 16,250SH SOLE 0 0 0"
"AMERICAN INTL GRP INC COM 026874107 11,369 130,774SH SOLE 0 0 0"
"AMERITECH CORP NEW COM 030954101 22,081 328,650SH SOLE 0 0 0"
"AT HOME CORP-SER A COM 045919107 3,027 73,038SH SOLE 0 0 0"
"ASSOCIATES FIRST CAPL CL A COM 046008108 365 10,132SH SOLE 0 0 0"
"ATLANTIC RICHFIELD CO COM 048825103 574 6,478SH SOLE 0 0 0"
"AUTOMATIC DATA PROCESSING COM 053015103 4,358 97,655SH SOLE 0 0 0"
"BHC COMMUNICATIONS COM 055448104 436 3,123SH SOLE 0 0 0"
"BP AMOCO PLC ADR COM 055622104 589 5,317SH SOLE 0 0 0"
"BANK OF AMER CORP COM 060505104 17,483 313,951SH SOLE 0 0 0"
"BANK ONE CORP COM 06423a103 22,081 634,269SH SOLE 0 0 0"
"BEST BUY COMPANY INC COM 086516101 683 11,000SH SOLE 0 0 0"
"BLOCKBUSTER INC CL A COM 093679108 4,939 387,400SH SOLE 0 0 0"
"BRISTOL MYERS SQUIBB CO COM 110122108 13,015 192,818SH SOLE 0 0 0"
"BURLINGTON RES INC COM 122014103 551 15,000SH SOLE 0 0 0"
"CBS CORP COM 12490k107 47,856 1,034,728SH SOLE 0 0 0"
"CMGI INC COM 125750109 1,133 11,050SH SOLE 0 0 0"
CALL CMG INFO SYS JAN 70 CALL 12575g9a4 302 60SH CALL SOLE 0 0 0
"CARNIVAL CORP COM 143658102 42,428 975,353SH SOLE 0 0 0"
PUT CARNIVAL OCT 45 PUT 1436589v6 -13 -50SH PUT SOLE 0 0 0
"CHASE MANHATTAN CORP COM 16161a108 8,617 114,321SH SOLE 0 0 0"
CALL CHASE MNHATN DEC 80 CALL 16161a9l4 -10 -30SH CALL SOLE 0 0 0
"CHEMDEX CORP COM 163595101 324 10,500SH SOLE 0 0 0"
"CHEVRON CORP COM 166751107 614 6,916SH SOLE 0 0 0"
"CHRIS-CRAFT INDS COM 170520100 738 13,143SH SOLE 0 0 0"
"CHUBB CORP COM 171232101 253 5,107SH SOLE 0 0 0"
"CIRCUIT CITY STORES COM 172737108 211 5,000SH SOLE 0 0 0"
"CISCO SYSTEMS INC COM 17275r102 40,711 593,776SH SOLE 0 0 0"
"CITIGROUP INC COM 172967101 71,749 1,630,660SH SOLE 0 0 0"
CALL CITIGROUP OCT 050 CALL 1729679j2 -1 -100SH CALL SOLE 0 0 0
"COCA COLA CO COM 191216100 17,613 366,448SH SOLE 0 0 0"
"COLGATE PALMOLIVE CO COM 194162103 23,785 519,895SH SOLE 0 0 0"
CALL COLGATE PALM NOV 55 CALL 1941629k1 -2 -80SH CALL SOLE 0 0 0
"COLUMBIA/HCA HEALTHCARE COM 197677107 11,997 566,233SH SOLE 0 0 0"
"COMPAQ COMPUTER CORP COM 204493100 1,140 49,701SH SOLE 0 0 0"
PUT COMPUT ASSOC OCT 50 PUT 2049129v3 0 -50SH PUT SOLE 0 0 0
"CONOCO INC-CL B COM 208251405 7,527 274,963SH SOLE 0 0 0"
"COSTCO COMPANIES INC COM 22160k105 23,988 333,165SH SOLE 0 0 0"
"COX COMMUNICATIONS COM 224044107 1,217 29,149SH SOLE 0 0 0"
"DAYTON HUDSON CORP COM 239753106 625 10,400SH SOLE 0 0 0"
"DELL COMPUTER CORP COM 247025109 781 18,680SH SOLE 0 0 0"
CALL DELL COMPUTR JAN 45 CALL 2470259a9 78 200SH CALL SOLE 0 0 0
"WALT DISNEY CO HOLDING CO COM 254687106 11,126 429,990SH SOLE 0 0 0"
"DOUBLECLICK INC COM 258609304 4,317 36,240SH SOLE 0 0 0"
CALL DOUBLECLICK JAN 90 CALL 43799w9a4 -563 -150SH CALL SOLE 0 0 0
"DOVER CORP COM 260003108 1,239 30,313SH SOLE 0 0 0"
"E I DU PONT DE NEMOURS COM 263534109 18,059 296,657SH SOLE 0 0 0"
"EMC CORP-MASS COM 268648102 24,890 348,411SH SOLE 0 0 0"
"E TRADE GROUP INC COM 269246104 282 12,000SH SOLE 0 0 0"
"ENRON CORP COM 293561106 3,830 92,860SH SOLE 0 0 0"
"EVEREST REINSURANCE HLGS COM 299808105 1,729 72,600SH SOLE 0 0 0"
"EXXON CORP COM 302290101 265 34,287SH SOLE 0 0 0"
"FREDDIE MAC COM 313400301 55,249 1,062,479SH SOLE 0 0 0"
"FANNIE MAE COM 313586109 18,717 298,575SH SOLE 0 0 0"
"FEDERATED DEPT STORES COM 31410h101 248 5,685SH SOLE 0 0 0"
"FERRELLGAS PARTNERS LP PFD 315293100 244 15,000SH SOLE 0 0 0"
"FORD MOTOR CO COM 345370100 911 18,151SH SOLE 0 0 0"
"FOX ENTERTAINMENT GRP COM 35138t107 8,435 399,300SH SOLE 0 0 0"
"GAP INC COM 364760108 1,264 39,507SH SOLE 0 0 0"
"GENERAL ELECTRIC CO COM 369604103 19,239 162,266SH SOLE 0 0 0"
"GILLETTE CO COM 375766102 32,627 961,370SH SOLE 0 0 0"
"GLOBAL TELESYS GRP COM 37936u104 489 24,800SH SOLE 0 0 0"
"GRUPO TELEVISA SA COM 40049j206 280 7,000SH SOLE 0 0 0"
"GUIDANT CORP COM 401698105 26,928 502,154SH SOLE 0 0 0"
"HALLIBURTON CO COM 406216101 15,628 381,166SH SOLE 0 0 0"
PUT HALLIBURTON OCT 40 PUT 4062169v5 -7 -50SH PUT SOLE 0 0 0
"HILTON HOTELS CORP COM 432848109 506 51,200SH SOLE 0 0 0"
"HOME DEPOT INC COM 437076102 780 11,370SH SOLE 0 0 0"
"HOUSTON INDS 7% PFD 442161204 408 4,000SH PFD SOLE 0 0 0"
"IMMUNEX CORP NEW COM 452528102 217 5,000SH SOLE 0 0 0"
"INFINITY BROADCASTING COM 45662s102 3,905 133,232SH SOLE 0 0 0"
"INKTOMI CORP COM 457277101 1,735 14,452SH SOLE 0 0 0"
"INTEL CORP COM 458140100 61,541 828,127SH SOLE 0 0 0"
CALL INTEL CORP OCT 085 CALL 4581409j1 -1 -30SH CALL SOLE 0 0 0
"IBM COM 459200101 64,791 533,811SH SOLE 0 0 0"
"INTERNET CAPITAL GRP INC COM 46059c106 439 5,000SH SOLE 0 0 0"
"INTUIT INC COM 461202103 745 8,500SH SOLE 0 0 0"
"JOHNSON & JOHNSON COM 478160104 10,598 115,354SH SOLE 0 0 0"
"JUNIPER NETWORKS COM 48203r104 915 5,000SH SOLE 0 0 0"
"KIMBERLY CLARK CORP COM 494368103 32,335 615,913SH SOLE 0 0 0"
"KINDER MORGAN ENERGY PTNRS COM 494550106 806 18,600SH SOLE 0 0 0"
"KNIGHT/TRIMARK GRP COM 499067106 296 10,000SH SOLE 0 0 0"
"KROLL O GARA CO COM 501050108 167 10,000SH SOLE 0 0 0"
CALL KROLL OGARA DEC 25 CALL 5010509l4 4 50SH CALL SOLE 0 0 0
"LAKEHEAD PIPE LINE PTNRS COM 511557100 213 5,000SH SOLE 0 0 0"
"LASER VISION CENTERS INC COM 51807h100 337 24,000SH SOLE 0 0 0"
"ESTEE LAUDER COS CL A COM 518439104 34,110 873,216SH SOLE 0 0 0"
PUT ESTEE LAUDER OCT 45 PUT 5184399v8 -29 -50SH PUT SOLE 0 0 0
"LIBERTY DIGITAL INC CL A COM 530436104 420 18,000SH SOLE 0 0 0"
"ELI LILLY & CO COM 532457108 35,086 548,217SH SOLE 0 0 0"
"LUCENT TECHNOLOGIES INC COM 549463107 10,738 165,515SH SOLE 0 0 0"
"MBNA CORP COM 55262l100 30,288 1,327,647SH SOLE 0 0 0"
"MCI WORLDCOM INC COM 55268b106 6,377 88,723SH SOLE 0 0 0"
CALL MCI WORLDCOM NOV 75 CALL 55268b9k4 -75 -240SH CALL SOLE 0 0 0
"MEAD CORP COM 582834107 341 9,910SH SOLE 0 0 0"
"MEDIAONE GROUP INC COM 58440j104 1,352 19,785SH SOLE 0 0 0"
"MEDIAONE GROUP PREM INC COM 58440j401 2,812 26,800SH SOLE 0 0 0"
"MEDIMMUNE INC COM 584699102 478 4,800SH SOLE 0 0 0"
"MEDTRONIC INC COM 585055106 428 12,060SH SOLE 0 0 0"
"MELLON BANK CORP COM 58551a108 605 17,920SH SOLE 0 0 0"
"MERCK & CO INC COM 589331107 9,666 149,136SH SOLE 0 0 0"
"MICROSOFT CORP COM 594918104 68,711 758,709SH SOLE 0 0 0"
PUT MICRON TECH OCT 70 PUT 5951129v7 -36 -50SH PUT SOLE 0 0 0
"MOBIL CORP COM 607059102 2,141 21,254SH SOLE 0 0 0"
"MONSANTO CO COM 611662107 5,467 153,200SH SOLE 0 0 0"
"MONSANTO 6.50% PFD COM 611662305 1,076 29,900SH SOLE 0 0 0"
"J P MORGAN & CO INC COM 616880100 1,078 9,434SH SOLE 0 0 0"
"MORGAN STANLEY DEAN WITTER COM 617446448 446 5,000SH SOLE 0 0 0"
"MOTOROLA INC COM 620076109 35,653 405,152SH SOLE 0 0 0"
PUT MOTOROLA CP OCT 85 PUT 6200769v3 -5 -25SH PUT SOLE 0 0 0
"NTL INC COM 629407107 5,445 56,660SH SOLE 0 0 0"
"NABISCO HOLDINGS COM 629526104 1,033 29,900SH SOLE 0 0 0"
"NETWORK SOLUTIONS INC COM 64121q102 276 3,000SH SOLE 0 0 0"
"NEWS CORP LTD COM 652487703 260 9,154SH SOLE 0 0 0"
"NEWS CORP LTD COM 652487802 275 10,320SH SOLE 0 0 0"
"NOKIA CORP COM 654902204 1,320 14,695SH SOLE 0 0 0"
"NORTEL NETWORKS CORP COM 656569100 255 5,000SH SOLE 0 0 0"
"NOVELL INC COM 670006105 16,670 805,800SH SOLE 0 0 0"
PUT NOVELL NOV 25 PUT 6700069w7 -24 -50SH PUT SOLE 0 0 0
"ORACLE CORP COM 68389x105 1,536 33,750SH SOLE 0 0 0"
PUT ORACLE CORP OCT 35 PUT 68389x9v9 -2 -100SH PUT SOLE 0 0 0
CALL ORACLE CORP JAN 30 CALL 6839649a0 718 350SH CALL SOLE 0 0 0
"PARKPLACE ENT COM 700690100 500 40,000SH SOLE 0 0 0"
"PEPSICO INC COM 713448108 821 27,125SH SOLE 0 0 0"
"PFIZER INC COM 717081103 17,411 484,486SH SOLE 0 0 0"
CALL PFIZER INC DEC 35 CALL 7170819l9 -30 -100SH CALL SOLE 0 0 0
"PHILIP MORRIS COS COM 718154107 2,489 72,811SH SOLE 0 0 0"
"PLAINS RES COM 726540503 295 16,500SH SOLE 0 0 0"
"POGO PRODUCING CO COM 730448107 436 21,000SH SOLE 0 0 0"
"PROCTER & GAMBLE CO COM 742718109 6,682 71,274SH SOLE 0 0 0"
"PROVIDIAN FINANCIAL CORP COM 74406a102 350 4,420SH SOLE 0 0 0"
"QLOGIC CORP. COM 747277101 210 3,000SH SOLE 0 0 0"
"QWEST COMMUNS INTL COM 749121109 222 7,500SH SOLE 0 0 0"
"REALNETWORKS INC COM 75605l104 525 5,020SH SOLE 0 0 0"
"RED HAT INC COM 756577102 749 7,800SH SOLE 0 0 0"
"ROYAL DUTCH PETE COM 780257804 10,367 175,527SH SOLE 0 0 0"
"SBC COMMUNICATIONS INC COM 78387g103 6,016 117,824SH SOLE 0 0 0"
"SAFEWAY INC COM 786514208 823 21,617SH SOLE 0 0 0"
"SCHERING PLOUGH CORP COM 806605101 2,142 49,100SH SOLE 0 0 0"
"SCHLUMBERGER LTD COM 806857108 1,533 24,596SH SOLE 0 0 0"
"CHARLES SCHWAB CORP COM 808513105 3,693 109,634SH SOLE 0 0 0"
CALL SCHWAB CORP JAN 62.5 CALL 8085139a5 5 150SH CALL SOLE 0 0 0
"SIEBEL SYSTEMS INC COM 826170102 366 5,500SH SOLE 0 0 0"
"STARBUCKS CORP COM 855244109 301 12,140SH SOLE 0 0 0"
"STATION CASINOS INC COM 857689103 341 14,656SH SOLE 0 0 0"
"STONE ENERGY CORP COM 861642106 254 5,000SH SOLE 0 0 0"
"SUN MICROSYSTEMS INC COM 866810104 8,116 87,265SH SOLE 0 0 0"
CALL SUN MICRO JAN 90 CALL 86681d9a6 315 100SH CALL SOLE 0 0 0
"SYSCO CORP COM 871829107 291 8,300SH SOLE 0 0 0"
"AT&T CORP LIBERTY MEDIA GRP COM 87924v507 3,640 98,058SH SOLE 0 0 0"
"TELLABS INC COM 879664100 285 5,000SH SOLE 0 0 0"
"TENET HEALTHCARE CORP COM 88033g100 3,900 222,050SH SOLE 0 0 0"
PUT TENET HEALTH NOV 17.5 PUT 88033g9w2 -11 -100SH PUT SOLE 0 0 0
"TEXACO INC COM 881694103 1,802 28,550SH SOLE 0 0 0"
CALL TEXACO INC OCT 70 CALL 8816949j4 -1 -80SH CALL SOLE 0 0 0
"TEXAS INSTRUMENTS INC COM 882508104 845 10,275SH SOLE 0 0 0"
"TIME WARNER INC COM 887315109 40,439 665,662SH SOLE 0 0 0"
"TRIBUNE CO NEW COM 896047107 554 11,130SH SOLE 0 0 0"
"TYCO INTERNATIONAL LTD COM 902124106 14,029 135,875SH SOLE 0 0 0"
"USA NETWORKS INC COM 902984103 1,135 29,300SH SOLE 0 0 0"
"USG CORP NEW COM 903293405 405 8,518SH SOLE 0 0 0"
"UNITED TECHNOLOGIES CORP COM 913017109 211 3,552SH SOLE 0 0 0"
"UNIVISION COMMUNS COM 914906102 1,383 17,000SH SOLE 0 0 0"
"VIACOM INC-CL B COM 925524308 2,810 66,500SH SOLE 0 0 0"
"VISX INC-DEL COM 92844s105 830 10,500SH SOLE 0 0 0"
CALL VISX INC MAR 90 CALL 93099w9c2 114 100SH CALL SOLE 0 0 0
CALL VISX INC DEC 90 CALL 93099w9l2 143 200SH CALL SOLE 0 0 0
CALL VISX INC DEC 75 CALL 93099w9l2 128 100SH CALL SOLE 0 0 0
CALL VISX INC DEC 80 CALL 93099w9l2 104 100SH CALL SOLE 0 0 0
PUT VISX INC DEC 95 PUT 93099w9x6 -201 -100SH PUT SOLE 0 0 0
PUT VISX INC DEC 110 PUT 93099w9x6 -324 -100SH PUT SOLE 0 0 0
"VODAFONE AIRTOUCH COM 92857t107 56,490 237,604SH SOLE 0 0 0"
"WAL-MART STORES INC COM 931142103 343 7,210SH SOLE 0 0 0"
"WARNER-LAMBERT CO COM 934488107 1,046 15,765SH SOLE 0 0 0"
"WELLS FARGO & CO COM 949746101 3,105 78,365SH SOLE 0 0 0"
"WILLIAMS COMPANIES INC COM 969457100 220 5,870SH SOLE 0 0 0"
"XEROX CORP COM 984121103 39,606 944,397SH SOLE 0 0 0"
"YAHOO INC COM 984332106 1,636 9,109SH SOLE 0 0 0"
"YOUNG & RUBICAM INC COM 987425105 24,085 547,396SH SOLE 0 0 0"
"GLOBAL CROSSING LTD COM g3921a100 263 9,912SH SOLE 0 0 0"
"GLOBALSTAR TELECOMMNS COM g3930h104 920 40,000SH SOLE 0 0 0"
"SANTA FE INTL CORP COM g7805c108 830 38,500SH SOLE 0 0 0"
"ROYAL CARIBBEAN CRUISES LTD COM v7780t103 621 13,800SH SOLE 0 0 0"
</TABLE>
