UNITED STATE
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 13F
FORM 13F COVER PAGE
Report fo the Calender Year of Quarter Ended: 06/30/99
Check here if Amendment [ ]; Amendment Number: _________
This Amendement (Check only one.): [ ] 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 MAY 5, 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: 273
Form 13F Information Table Value Total (x$1000): 1,338,022
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FORM 13F INFORMATION TABLE
TITLE SHRS OR PUT/ INVESTMENT OTHER
NAME OF ISSUER OF CLASS CUSIP PRIN AMT CALL DISCRETION MANAGERS SOLESHARED NONE
PUT AT&T CORP JUL 050 PUT 0019519s3 -1 PUT -50 SOLE -50
AT&T CORP COM 001957109 4,397 SH 78,778 SOLE 78778
ABBOTT LABORATORIES COM 002824100 41,763 SH 917,866 SOLE 917866
ABERCROMBIE & FITCH CO-CL A COM 002896207 240 SH 5,000 SOLE 5000
AKSYS LTD COM 010196103 116 SH 20,000 SOLE 20000
AMAZON.COM INC COM 023135106 105 SH 840 SOLE 840
CALL AMAZON COM JAN 150 CALL 93699w9a0 99 CALL 40 SOLE 40
AMERICA ONLINE INC-DEL COM 02364j104 14,365 SH 130,001 SOLE 130001
CALL AMER ONLINE JAN 100 CALL 0236439a9 176 CALL 40 SOLE 40
PUT AMER ONLINE JAN 140 PUT 0236439m3 -153 PUT -30 SOLE -30
CALL AMER ONLINE JUL 125 CALL 0236459g1 -1 CALL -5 SOLE -5
CALL AMER ONLINE JAN 125 CALL 18799w9a6 88 CALL 50 SOLE 50
CALL AMER ONLINE JUL 110 CALL 18799w9g3 -54 CALL -87 SOLE -87
CALL AMER ONLINE AUG 120 CALL 18799w9h1 -8 CALL -10 SOLE -10
CALL AMER ONLINE JAN 080 CALL 22799w9a8 198 CALL 50 SOLE 50
CALL AMER ONLINE JAN 130 CALL 75899w9a5 136 CALL 40 SOLE 40
CALL AMER ONLINE JAN 160 CALL 75899w9a5 105 CALL 40 SOLE 40
CALL AMER ONLINE JAN 180 CALL 75899w9a5 90 CALL 40 SOLE 40
PUT AMER ONLINE JAN 150 PUT 75899w9m9 -1,170 PUT -200 SOLE -200
AMERICAN EXPRESS COMPANY COM 025816109 1,250 SH 9,603 SOLE 9603
AMERICAN HOME PRODUCTS CORP COM 026609107 2,015 SH 35,046 SOLE 35046
AMERICAN INTERNATIONAL GRP COM 026874107 12,259 SH 104,719 SOLE 104719
AMERITECH CORP NEW COM 030954101 24,617 SH 334,926 SOLE 334926
AMGEN INC COM 031162100 301 SH 4,950 SOLE 4950
ANSWERTHINK CONSULTING GRP COM 036916104 202 SH 8,000 SOLE 8000
CALL ANSWERTHINK JUL 025 CALL 0369169g1 -14 CALL -75 SOLE -75
AT HOME CORP-SER A COM 045919107 4,551 SH 84,370 SOLE 84370
CALL AT HOME CORP JAN 60 CALL 0459199a7 155 CALL 120 SOLE 120
ASSOCIATES FIRST CAPITAL CL A COM 046008108 474 SH 10,702 SOLE 10702
AUTOMATIC DATA PROCESSING INC COM 053015103 4,737 SH 107,655 SOLE 107655
BHC COMMUNICATIONS INC-CL A COM 055448104 402 SH 3,123 SOLE 3123
BP AMOCO P L C ADR COM 055622104 251 SH 2,317 SOLE 2317
BANK OF AMER CORP COM 060505104 27,887 SH 380,385 SOLE 380385
PUT BANK OF AMER JUL 060 PUT 0605059s5 -1 PUT -50 SOLE -50
BANK ONE CORP COM 06423a103 36,128 SH 606,545 SOLE 606545
CALL BANK ONE CP JUL 060 CALL 06423a9g0 -6 CALL -50 SOLE -50
PUT BANK ONE CP JUL 055 PUT 06423a9s4 -2 PUT -50 SOLE -50
BEST BUY COMPANY INC COM 086516101 405 SH 6,000 SOLE 6000
BEVERLY ENTERPRISES INC NEW COM 087851309 81 SH 10,000 SOLE 10000
BRISTOL MYERS SQUIBB CO COM 110122108 13,283 SH 188,578 SOLE 188578
BROADCAST COM INC COM 111310108 267 SH 2,000 SOLE 2000
BURLINGTON RESOURCES INC COM 122014103 1,427 SH 33,000 SOLE 33000
CALL S&P 500 INDX DEC 1450 CALL 12486q9l6 -333 CALL -70 SOLE -70
CBS CORP COM 12490k107 41,175 SH 947,912 SOLE 947912
CMGI INC COM 125750109 2,686 SH 23,550 SOLE 23550
PUT CMGI INC SEP 75 PUT 72799w9u9 -19 PUT -50 SOLE -50
CNET INC FORMERLY C NET INC-DEL COM 125945105 519 SH 9,000 SOLE 9000
CARNIVAL CORP. - CL A COM. COM 143658102 42,277 SH 871,694 SOLE 871694
CENDANT CORP COM 151313103 203 SH 9,900 SOLE 9900
CHARTER PACIFIC BANK-AGOURA CA COM 16132l100 56 SH 15,000 SOLE 15000
CHARTWELL TECHNOLOGY INC. COM 16140r107 92 SH 35,000 SOLE 35000
CHASE MANHATTAN CORP NEW COM 16161a108 12,213 SH 140,987 SOLE 140987
CHEROKEE INC-DEL NEW COM 16444h102 181 SH 21,500 SOLE 21500
CHEVRON CORP COM 166751107 658 SH 6,916 SOLE 6916
CHUBB CORP COM 171232101 355 SH 5,107 SOLE 5107
CISCO SYSTEMS INC COM 17275r102 36,500 SH 565,891 SOLE 565891
CITIGROUP INC COM 172967101 81,135 SH 1,708,101 SOLE 1708101
COCA COLA CO COM 191216100 20,690 SH 331,038 SOLE 331038
COLGATE PALMOLIVE CO COM 194162103 21,756 SH 220,317 SOLE 220317
COLUMBIA/HCA HEALTHCARE CORP COM 197677107 14,280 SH 625,978 SOLE 625978
CALL COLUMBIA/HCA AUG 25 CALL 1976779h2 -14 CALL -100 SOLE -100
COMCAST CORP-SPECIAL CL A COM 200300200 415 SH 10,800 SOLE 10800
COMPAQ COMPUTER CORP COM 204493100 3,496 SH 147,601 SOLE 147601
COSTCO COMPANIES INC COM 22160q102 17,275 SH 215,765 SOLE 215765
COX COMMUNICATIONS INC NEW CL A COM 224044107 1,286 SH 34,940 SOLE 34940
CROSS TIMBERS ROYALTY TR UNITS COM 22757r109 109 SH 10,800 SOLE 10800
DBT ONLINE INC COM 233044106 531 SH 16,200 SOLE 16200
DAYTON HUDSON CORP COM 239753106 1,001 SH 15,400 SOLE 15400
DELL COMPUTER CORP COM 247025109 469 SH 12,680 SOLE 12680
CALL DELL COMPUTR JAN 45 CALL 2470259a9 75 CALL 200 SOLE 200
PUT DELL COMPUTR AUG 32.5 PUT 2470259t8 -11 PUT -100 SOLE -100
WALT DISNEY CO HOLDING CO COM 254687106 9,274 SH 300,978 SOLE 300978
DOUBLECLICK INC COM 258609304 3,325 SH 36,240 SOLE 36240
DOVER CORP COM 260003108 1,061 SH 30,313 SOLE 30313
E I DU PONT DE NEMOURS & CO COM 263534109 26,125 SH 382,433 SOLE 382433
CALL DUPONT JUL 70 CALL 2635349g6 -90 CALL -755 SOLE -755
EMC CORP-MASS COM 268648102 18,952 SH 344,590 SOLE 344590
CALL EMC CORP JAN 57.5 CALL 26999w9a7 131 CALL 150 SOLE 150
CALL EMC CORP JUL 55 CALL 26999w9g4 -13 CALL -50 SOLE -50
CALL EMC CORP OCT 50 CALL 26999w9j8 96 CALL 100 SOLE 100
E TRADE GROUP INC COM 269246104 603 SH 15,100 SOLE 15100
EL PASO ENERGY CORP COM 283905107 352 SH 10,000 SOLE 10000
CALL EL PASO ENER JUL 35 CALL 2839059g4 -10 CALL -100 SOLE -100
ENRON CORP COM 293561106 3,395 SH 41,530 SOLE 41530
EVEREST REINSURANCE HOLDINGS INC COM 299808105 2,610 SH 80,000 SOLE 80000
FAROUDJA INC COM 311643100 31 SH 11,000 SOLE 11000
FDX CORP COM 31304n107 385 SH 7,100 SOLE 7100
FREDDIE MAC-VOTING COMMON COM 313400301 58,796 SH 1,013,724 SOLE 1013724
FEDERATED DEPARTMENT STORES INC COM 31410h101 301 SH 5,685 SOLE 5685
FERRELLGAS PTNRS LP UTS CVT PFD COM 315293100 254 PUT 15,000 SOLE 15000
GAP INC COM 364760108 2,040 SH 40,500 SOLE 40500
GENERAL ELECTRIC CO COM 369604103 20,092 SH 177,809 SOLE 177809
CALL GENL ELECT JAN 110 CALL 3696079a6 218 CALL 100 SOLE 100
GILLETTE CO COM 375766102 34,907 SH 851,391 SOLE 851391
PUT GILLETTE CO SEP 40 PUT 3757669u8 -8 PUT -50 SOLE -50
GLOBAL TELESYSTEMS GROUP INC COM 37936u104 279 SH 3,450 SOLE 3450
GOLDMAN SACHS GROUP INC COM 38141g104 2,876 SH 39,800 SOLE 39800
GRUPO TELEVISA SA GDS COM 40049j206 314 SH 7,000 SOLE 7000
GUIDANT CORP COM 401698105 19,913 SH 387,129 SOLE 387129
HALLIBURTON CO COM 406216101 15,678 SH 346,466 SOLE 346466
HEALTHEON CORP COM 422209106 770 SH 10,000 SOLE 10000
HILTON HOTELS CORP COM 432848109 726 SH 51,200 SOLE 51200
HOME DEPOT INC COM 437076102 492 SH 7,640 SOLE 7640
HOUSTON INDS INC 7% CVT PFD COM 442161204 477 PUT 4,000 SOLE 4000
INFINITY BROADCASTING CORP NEW CL A COM 45662s102 3,964 SH 133,232 SOLE 133232
INKTOMI CORP COM 457277101 581 SH 4,452 SOLE 4452
INTEL CORP COM 458140100 53,951 SH 906,734 SOLE 906734
PUT INTEL CORP JUL 50 PUT 4581409s1 -2 PUT -75 SOLE -75
INTERNATIONAL BUS MACHINES CORP COM 459200101 64,906 SH 502,174 SOLE 502174
JOHNSON & JOHNSON COM 478160104 11,842 SH 120,834 SOLE 120834
KIMBERLY CLARK CORP COM 494368103 30,219 SH 530,157 SOLE 530157
KINDER MORGAN ENERGY PARTNERS LP COM 494550106 688 SH 18,600 SOLE 18600
KROGER CO COM 501044101 838 SH 30,000 SOLE 30000
LCA-VISION INC NEW COM 501803209 233 SH 25,000 SOLE 25000
LAKEHEAD PIPE LINE PTNRS LP UTS CL A COM 511557100 220 SH 5,000 SOLE 5000
LASER VISION CENTERS INC COM 51807h100 756 SH 12,000 SOLE 12000
ESTEE LAUDER COMPANIES INC CL A COM 518439104 36,249 SH 723,176 SOLE 723176
ELI LILLY & CO COM 532457108 36,732 SH 512,842 SOLE 512842
PUT ELI LILLY AUG 60 PUT 5324579t7 -4 PUT -50 SOLE -50
LUCENT TECHNOLOGIES INC COM 549463107 10,957 SH 162,480 SOLE 162480
LYCOS INC COM 550818108 276 SH 3,000 SOLE 3000
MBNA CORP COM 55262l100 36,127 SH 1,179,667 SOLE 1179667
MCI WORLDCOM INC COM 55268b106 4,957 SH 57,478 SOLE 57478
MARKETING SERVICES GROUP INC COM 570907105 393 SH 15,000 SOLE 15000
MEDIAONE GROUP INC COM 58440j104 479 SH 6,437 SOLE 6437
MEDIAONE GROUP PREM INC EXCH 6.25% COM 58440j401 2,878 SH 31,800 SOLE 31800
CALL MEDIAONE GRP JUL 65 CALL 58440j9g1 98 CALL 100 SOLE 100
MEDTRONIC INC COM 585055106 452 SH 5,810 SOLE 5810
MELLON BANK CORP COM 585509102 652 SH 17,920 SOLE 17920
MERCK & CO INC COM 589331107 11,775 SH 159,122 SOLE 159122
MERRILL LYNCH & CO INC COM 590188108 2,447 SH 30,609 SOLE 30609
MERRILL LYNCH 7.28% PFD CAP TR COM 59021k205 24 SH 1,000 SOLE 1000
CALL MERRIL LYNCH JUL 075 CALL 5901889g5 -31 CALL -50 SOLE -50
MICROSOFT CORP COM 594918104 66,607 SH 738,540 SOLE 738540
CALL MICROSOFT CP AUG 95 CALL 5949189h9 -13 CALL -40 SOLE -40
MOBIL CORP COM 607059102 2,035 SH 20,554 SOLE 20554
MONSANTO CO COM 611662107 12,781 SH 324,090 SOLE 324090
MONSANTO CO - 6.50% PFD ADJ CONV PFD COM 611662305 1,288 SH 32,100 SOLE 32100
J P MORGAN & CO INC COM 616880100 1,325 SH 9,434 SOLE 9434
MORGAN STANLEY DEAN WITTER & CO COM 617446448 1,025 SH 10,000 SOLE 10000
MOTOROLA INC COM 620076109 33,916 SH 357,952 SOLE 357952
NABISCO HOLDINGS CORP-CL A COM 629526104 1,293 SH 29,900 SOLE 29900
NETWORK SOLUTIONS INC COM 64121q102 237 SH 3,000 SOLE 3000
NEWS CORP LTD ADR COM 652487703 389 SH 11,014 SOLE 11014
NEWS CORP LTD-SPONSORED ADR COM 652487802 316 SH 10,000 SOLE 10000
NOKIA CORP-SPONSORED ADR COM 654902204 1,337 SH 14,600 SOLE 14600
NORTEL NETWORKS CORP COM 656569100 217 SH 2,500 SOLE 2500
NOVELL INC COM 670006105 13,584 SH 512,600 SOLE 512600
CALL NOVELL INC JAN 20 CALL 6700069a5 42 CALL 50 SOLE 50
CALL NOVELL INC JAN 25 CALL 6700069a5 25 CALL 50 SOLE 50
ORACLE CORP COM 68389x105 1,368 SH 36,850 SOLE 36850
CALL ORACLE CORP JAN 30 CALL 6839649a0 435 CALL 300 SOLE 300
PAGING NETWORK INC COM 695542100 96 SH 20,000 SOLE 20000
PARKPLACE ENTERTAINMENT CORP COM 700690100 388 SH 40,000 SOLE 40000
PAXSON COMMUNICATIONS CORP CL A COM 704231109 319 SH 25,000 SOLE 25000
PEPSICO INC COM 713448108 1,163 SH 30,050 SOLE 30050
PFIZER INC COM 717081103 19,503 SH 177,701 SOLE 177701
CALL PFIZER INC JUL 110 CALL 7170819g0 -18 CALL -50 SOLE -50
PHILIP MORRIS COMPANIES INC COM 718154107 4,822 SH 119,986 SOLE 119986
CALL PHIL MOR COS JAN 35 CALL 7181559a4 35 CALL 50 SOLE 50
PLAINS RESOURCES INC NEW COM 726540503 314 SH 16,500 SOLE 16500
PRAXAIR INC COM 74005p104 264 SH 5,400 SOLE 5400
PROCTER & GAMBLE CO COM 742718109 7,259 SH 81,334 SOLE 81334
PROVIDIAN FINANCIAL CORP COM 74406a102 343 SH 3,670 SOLE 3670
PSINET INC COM 74437c101 219 SH 5,000 SOLE 5000
REALNETWORKS INC COM 75605l104 311 SH 4,520 SOLE 4520
ROGERS COMMUNICATIONS INC CL B COM 775109200 162 SH 10,000 SOLE 10000
ROYAL DUTCH PETROLEUM CO COM 780257804 10,810 SH 179,427 SOLE 179427
SBC COMMUNICATIONS INC COM 78387g103 3,830 SH 66,031 SOLE 66031
SAFEWAY INC COM 786514208 1,162 SH 23,467 SOLE 23467
SARA LEE CORP COM 803111103 590 SH 26,026 SOLE 26026
SCHERING PLOUGH CORP COM 806605101 2,364 SH 44,600 SOLE 44600
SCHLUMBERGER LTD COM 806857108 1,919 SH 30,126 SOLE 30126
PUT SCHLUMBERGER AUG 55 PUT 8068579t7 -4 PUT -50 SOLE -50
CHARLES SCHWAB CORP NEW COM 808513105 6,572 SH 59,817 SOLE 59817
CALL SCHWAB CORP JAN 110 CALL 8089129a9 59 CALL 30 SOLE 30
CALL SCHWAB CORP JAN 125 CALL 8089129a9 210 CALL 150 SOLE 150
SCIENT CORP COM 80864h109 243 SH 5,100 SOLE 5100
SEMINIS INC CL A COM 816658108 1,363 SH 90,500 SOLE 90500
SONY CORP-ADR NEW COM 835699307 662 SH 6,000 SOLE 6000
STARBUCKS CORP COM 855244109 657 SH 17,500 SOLE 17500
STATION CASINOS INC COM 857689103 299 SH 14,656 SOLE 14656
SUN MICROSYSTEMS INC COM 866810104 5,984 SH 86,880 SOLE 86880
CALL SUN MICROS JAN 60 CALL 8668129a0 173 CALL 75 SOLE 75
TCA CABLE TV INC COM 872241104 389 SH 7,000 SOLE 7000
TCI MUSIC INC SER A COM 87229n101 456 SH 12,900 SOLE 12900
AT&T CORP LIBERTY MEDIA GRP SER A COM 87924v507 3,604 SH 98,058 SOLE 98058
TEXACO INC COM 881694103 1,781 SH 28,500 SOLE 28500
CALL TEXACO INC AUG 65 CALL 8816949h8 -16 CALL -80 SOLE -80
PUT TEXACO INC JUL 60 PUT 8816949s4 -8 PUT -100 SOLE -100
TEXAS INSTRUMENTS INC COM 882508104 725 SH 5,000 SOLE 5000
TIME WARNER INC (HOLDING CO) COM 887315109 40,818 SH 555,341 SOLE 555341
TRANSAMERICA CORP COM 893485102 391 SH 5,212 SOLE 5212
TRIBUNE CO NEW COM 896047107 581 SH 6,665 SOLE 6665
TYCO INTERNATIONAL LTD COM 902124106 536 SH 5,655 SOLE 5655
U S BANCORP-DEL COM 902973106 204 SH 6,000 SOLE 6000
PUT U S BANCORP SEP 30 PUT 9029739u2 -10 PUT -100 SOLE -100
USA NETWORKS INC COM 902984103 975 SH 24,300 SOLE 24300
USG CORP NEW COM 903293405 477 SH 8,518 SOLE 8518
UNITED TECHNOLOGIES CORP COM 913017109 8,733 SH 121,816 SOLE 121816
UNIVISION COMMUNS INC CL A COM 914906102 594 SH 9,000 SOLE 9000
VIACOM INC-CL B COM 925524308 607 SH 13,796 SOLE 13796
VISX INC-DEL COM 92844s105 634 SH 8,000 SOLE 8000
CALL VISX INC SEP 50 CALL 92844s9i8 538 CALL 170 SOLE 170
CALL VISX INC SEP 60 CALL 93099w9i9 1,342 CALL 610 SOLE 610
CALL VISX INC SEP 65 CALL 93099w9i9 185 CALL 100 SOLE 100
VODAFONE AIRTOUCH PLC ADR COM 92857t107 42,144 SH 213,927 SOLE 213927
WAL-MART STORES INC COM 931142103 386 SH 8,010 SOLE 8010
WARNER-LAMBERT CO COM 934488107 1,149 SH 16,565 SOLE 16565
WELLS FARGO & CO-NEW COM 949746101 3,368 SH 78,780 SOLE 78780
XEROX CORP COM 984121103 45,313 SH 767,204 SOLE 767204
YAHOO INC COM 984332106 2,216 SH 12,865 SOLE 12865
YOUNG & RUBICAM INC COM 987425105 21,627 SH 475,965 SOLE 475965
GLOBAL CROSSING LTD COM g3921a100 209 SH 4,912 SOLE 4912
GLOBALSTAR TELECOMM LTD ORD COM g3930h104 928 SH 40,000 SOLE 40000
SANTA FE INTERNATIONAL CORP COM g7805c108 1,116 SH 48,500 SOLE 48500
ROYAL CARIBBEAN CRUISES LTD COM v7780t103 604 SH 13,800 SOLE 13800
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