FIDUCIARY FINANCIAL SERVICES OF THE SOUTHWEST INC /TX
13F-HR, 2000-10-31
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

Form 13F

Form 13F COVER PAGE

Report for the Calendar Year or Quarter Ended:  09-30-00

Check here if Amendment (  ); Amendment Number:
	This Amendment (Check only one):  (  ) is a restatement.
					      (  ) adds new holdings entries.

Institutional Investment Manager Filing this Report:

	Fiduciary Financial Services of the Southwest, Inc.
	12222 Merit Drive, Suite 920
	Dallas, TX  75251-2268

Form 13F File Number :	28-7732

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:	Sondra J. Wilson
Title:	Senior Vice President
Phone:	972-934-9070

Signature, Place, and Date of Signing:

Sondra J. Wilson               Dallas, TX              October 31, 2000

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:	None




Form 13F SUMMARY PAGE


Report Summary:

Number of Other Included Managers:            		0

Form 13F Information Table Entry Total:       102

Form 13F Information Table Value Total:   128,865

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.

	None










<TABLE>                        <C>                                         <C>
FORM 13F INFORMATION TABLE
                               TITLE                       VALUE    SHS OR                  INVESTMENT OTHER     VOTING AUTHORITY
NAME OF ISSUER                 OF CLASS       CUSIP       (X $1000) PRN AMT SH/PRN PUT/CALL DISCRETION MANAGERS  SOLE  SHARED  NONE

A C M Govt Securities          COM            000914 10 1  1,338   184,557 SH               SOLE                184,557
A C M Govt Spectrum            COM            000917 10 4    529    87,251 SH               SOLE                 87,251
AT&T Corporation               COM            001957 10 9    608    20,693 SH               SOLE                 20,693
AT&T Corp                      COM WIRLES GRP 001957 40 6    281    13,450 SH               SOLE                 13,450
Abbott Laboratories            COM            002824 10 0  1,364    28,670 SH               SOLE                 28,670
Agilent Technologies           COM            00846U 10 1  1,770    36,165 SH               SOLE                 36,165
Allmerica Securities           SH BEN INT     019921 10 5    469    49,077 SH               SOLE                 49,077
America Online Inc             COM            02364J 10 4    701    13,040 SH               SOLE                 13,040
American Express Co            COM            025816 10 9    205     3,375 SH               SOLE                  3,375
Amerigas Partners LP           UNIT L P INT   030975 10 6    652    34,300 SH               SOLE                 34,300
Amgen, Inc                     COM            031162 10 0  4,755    68,090 SH               SOLE                 68,090
Arden Realty Group             COM            039793 10 4    469    17,500 SH               SOLE                 17,500
Atmel Corp                     COM            049513 10 4    173    11,400 SH               SOLE                 11,400
BP Amoco                       SPON ADR       055622 10 4    399     7,520 SH               SOLE                  7,520
Barrick Gold Corp              COM            067901 10 8    390    25,575 SH               SOLE                 25,575
Barr Labs Inc                  COM            068306 10 9    982    14,815 SH               SOLE                 14,815
Bellsouth Corporation          COM            079860 10 2  1,637    40,678 SH               SOLE                 40,678
Blackrock Adv. Term 2005       COM            09247A 10 1    561    60,238 SH               SOLE                 60,238
Blackrock Broad Inv 2009       COM            09247Q 10 6    647    55,360 SH               SOLE                 55,360
Blockbuster Inc                CL A           093679 10 8    176    20,000 SH               SOLE                 20,000
Buckeye Partners LP            UNIT LTD PARTN 118230 10 1    244     8,495 SH               SOLE                  8,495
Chase Manhattan Corp           COM            16161A 10 8  1,906    41,268 SH               SOLE                 41,268
Cisco Systems                  COM            17275R 10 2  4,149    75,100 SH               SOLE                 75,100
CitiGroup, Inc.                COM            172967 10 1  2,429    44,925 SH               SOLE                 44,925
Coca Cola                      COM            191216 10 0  1,327    24,070 SH               SOLE                 24,070
Corning Inc                    COM            219350 10 5    238       800 SH               SOLE                    800
Crescent Real Estate Equities  COM            225756 10 5    799    35,812 SH               SOLE                 35,812
Crescent Real Est Eq Covt Pfd  PFD CV A 6.75% 225756 20 4    838    51,385 SH               SOLE                 51,385
Dell Computer                  COM            247025 10 9    569    18,465 SH               SOLE                 18,465
Diamonds Trades                UNIT SER 1     252787 10 6  1,169    10,959 SH               SOLE                 10,959
Duke Energy Corp               COM            264399 10 6    801     9,346 SH               SOLE                  9,346
EMC Corp                       COM            268648 10 2  1,052    10,610 SH               SOLE                 10,610
El Paso Energy Partners L.P.   PREF UNIT      28368B 10 2    478    17,880 SH               SOLE                 17,880
Equity Inns                    COM            294703 10 3    310    46,786 SH               SOLE                 46,786
Equity Res Prop Convertible    PFD CV 1/10 G  29476L 85 9    349    15,425 SH               SOLE                 15,425
Exodus Communications          COM            302088 10 9    532    10,780 SH               SOLE                 10,780
Exxon Mobil Corporation        COM            30231G 10 2  1,080    12,121 SH               SOLE                 12,121
Ferrellgas Partners L.P.       UNIT LTD PART  315293 10 0    703    42,950 SH               SOLE                 42,950
General Electric               COM            369604 10 3  1,130    19,580 SH               SOLE                 19,580
General Motors Corp            COM            370442 10 5    553     8,500 SH               SOLE                  8,500
General Motors Corp            CL H           370442 83 2    357     9,600 SH               SOLE                  9,600
Glenborough Realty TR          PFD CV SER A%  37803P 20 4    683    40,150 SH               SOLE                 40,150
HRPT Properties Trust          COM SH BEN INT 40426W 10 1  1,450   207,128 SH               SOLE                207,128
Halliburton                    COM            406216 10 1  2,777    56,751 SH               SOLE                 56,751
Hancock John Patriot Prem II   COM SH BEN INT 41013T 10 5    313    30,890 SH               SOLE                 30,890
Health Care Property           COM            421915 10 9    957    32,294 SH               SOLE                 32,294
HealthCare Realty Trust        COM            421946 10 4  2,004    94,881 SH               SOLE                 94,881
Health Care Reit               COM            42217K 10 6    512    28,865 SH               SOLE                 28,865
Hewlett-Packard                COM            428236 10 3    895     9,225 SH               SOLE                  9,225
Hospitality Properties Trust   COM SH BEN INT 44106M 10 2  1,621    69,365 SH               SOLE                 69,365
Intel                          COM            458140 10 0  1,162    27,960 SH               SOLE                 27,960
International Business Machine COM            459200 10 1  3,208    28,515 SH               SOLE                 28,515
JDS Uniphase                   COM            46612J 10 1  3,201    33,805 SH               SOLE                 33,805
Johnson & Johnson              COM            478160 10 4  2,030    21,615 SH               SOLE                 21,615
Kaneb Pipe Line Partners       SR PREF UNIT   484169 10 7    377    12,740 SH               SOLE                 12,740
Kinder Morgan Energy Partners  UT LTD PARTNER 494550 10 6  2,863    60,429 SH               SOLE                 60,429
Lakehead Pipeline Partners     COM UNIT CL A  511557 10 0    355     8,545 SH               SOLE                  8,545
Lilly Eli & Co                 COM            532457 10 8  3,386    41,744 SH               SOLE                 41,744
Lucent Technologies            COM            549463 10 7  4,468   146,192 SH               SOLE                146,192
Meditrust Companies            PAIRED CTF NEW 58501T 30 6    197    67,133 SH               SOLE                 67,133
Merck & Co Inc                 COM            589331 10 7    663     8,905 SH               SOLE                  8,905
Microsoft                      COM            594918 10 4  5,344    88,611 SH               SOLE                 88,611
Midcap SPDR TR                 UNIT SER I     595635 10 3  2,018    20,535 SH               SOLE                 20,535
Minnesota Mng & Mfg Co         COM            604059 10 5  1,264    13,870 SH               SOLE                 13,870
Nasdaq 100 Tr                  UNIT SER I     631100 10 4    972    10,960 SH               SOLE                 10,960
Nokia Corp                     SPON ADR       654902 20 4  1,986    49,890 SH               SOLE                 49,890
Nortel Networks Corp           COM            656568 10 2  3,996    67,090 SH               SOLE                 67,090
Northern Border Ptnrs          UNIT LTD PARTN 664785 10 2    810    25,605 SH               SOLE                 25,605
Pepsico                        COM            713448 10 8    221     4,800 SH               SOLE                  4,800
Pfizer                         COM            717081 10 3  3,644    81,097 SH               SOLE                 81,097
Procter & Gamble               COM            742718 10 9    628     9,374 SH               SOLE                  9,374
Qualcomm Inc                   COM            747525 10 3  1,342    18,830 SH               SOLE                 18,830
SBC Communications             COM            78387G 10 3  1,160    23,207 SH               SOLE                 23,207
SPDR TR                        UNIT SER 1     78462F 10 3  1,272     8,856 SH               SOLE                  8,856
Schlumberger                   COM            806857 10 8  1,816    22,060 SH               SOLE                 22,060
Sector SPDR TR                 SBI INT-TECH   81369Y 80 3    887    19,130 SH               SOLE                 19,130
Senior Hsg Pptys Tr            SH BEN INT     81721M 10 9    579    62,165 SH               SOLE                 62,165
Sheffield Pharmaceutical       COM NEW        82123D 30 9     74    10,800 SH               SOLE                 10,800
Star Gas Partners              UNIT LTD PARTN 85512C 10 5    762    43,240 SH               SOLE                 43,240
Suburban Propane Partners      UNIT LTD PARTN 864482 10 4    452    20,535 SH               SOLE                 20,535
Sun Microsystems Inc           COM            866810 10 4  3,675    31,480 SH               SOLE                 31,480
TC Pipelines LP                UT COM LTD PRT 87233Q 10 8    486    24,745 SH               SOLE                 24,745
Teppco Partners L P            UT LTD PARTNER 872384 10 2    256     9,655 SH               SOLE                  9,655
TXU Corp                       COM            873168 10 8  1,859    46,915 SH               SOLE                 46,915
Texaco Inc                     COM            881694 10 3    601    11,439 SH               SOLE                 11,439
Texas Instruments              COM            882508 10 4  1,526    32,335 SH               SOLE                 32,335
U.S. Restaurant Properties     COM            902971 10 0    415    43,671 SH               SOLE                 43,671
U S Restaurant Convt 7.72%     PFD CV SER A   902971 20 9    848    62,805 SH               SOLE                 62,805
United Investors Realty Trust  COM            910741 10 7  1,009   179,404 SH               SOLE                179,404
United Parcel Service Inc      CL B           911312 10 6    678    12,025 SH               SOLE                 12,025
Verizon Communications         COM            92343V 10 4    788    16,265 SH               SOLE                 16,265
Vestaur Secs Inc               COM            925464 10 9    223    17,565 SH               SOLE                 17,565
Vodafone Group Plc New         SPONSORED ADR  92857W 10 0  1,796    48,540 SH               SOLE                 48,540
Wal-Mart Stores Inc            COM            931142 10 3  2,428    50,457 SH               SOLE                 50,457
Washington Gas Lt              COM            938837 10 1    673    25,045 SH               SOLE                 25,045
Watson Pharmaceuticals         COM            942683 10 3  2,436    37,545 SH               SOLE                 37,545
Williams Communications Group  CL A           969455 10 4    399    19,935 SH               SOLE                 19,935
Williams Cos Inc Del           COM            969457 10 0  1,404    33,225 SH               SOLE                 33,225
World Fuel Svcs Corp           COM            981475 10 6    458    56,324 SH               SOLE                 56,324
Worldcom Inc Ga New            COM            98157D 10 6  2,480    81,661 SH               SOLE                 81,661
Global Crossing Ltd            COM            G3921A 10 0  1,461    47,145 SH               SOLE                 47,145
Transocean Sedco Forex Inc     ORD            G90078 10 9  1,498    25,560 SH               SOLE                 25,560

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