<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: June 30, 1999
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: Prospector Partners, LLC
Address: The Webster Memorial Building
36 Trumball Street
Hartford, CT 06103-2404
Form 13F File Number: 28-
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: John D. Gillespie
Title: Managing Member
Phone: (860) 560-6200
Signature, Place, and Date of Signing:
/s/ John D. Gillespie Hartford, CT August 16, 1999
_____________________ _______________ ______________
[Signature] [City, State] [Date]
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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 Name
28-
[Repeat as necessary.]
2
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Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 47
Form 13F Information Table Value Total: $150,869
[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-
[Repeat as necessary.]
3
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<TABLE>
Form 13F INFORMATION TABLE
Name of Reporting Manager Prospector Partners, LLC
<CAPTION>
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
--------- -------- -------- -------- -------- --------- -------- --------
INVESTMENT DISCRETION VOTING AUTHORITY
(c)
FAIR MANAGERS
TITLE CUSIP MARKET SHRS OR (a) (b) SHARED SEE (a) (b) (c)
NAME OF ISSUER OF CLASS NUMBER VALUE PRN AMT SOLE SHARED OTHER INSTR. V SOLE SHARED NONE
- -------------- -------- ------ ------ ------- --- ---- ---- ------ ------ -------- ---- ------ ----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
AETNA INC COM COMMON STOCK 008117103 939 10,500 X X
AMBAC FINANCIAL
GROUP INC COMMON STOCK 023139108 4,241 74,250 X X
AMER EXPRESS CO
COM COMMON STOCK 025816109 1,951 15,000 X X
AMER HERITAGE LIFE
INVT CORP C COMMON STOCK 026522102 245 10,000 X X
AMERICAN GEN CORP
COM COMMON STOCK 026351106 1,884 25,000 X X
BANK OF AMERICA
CORP COM STK COMMON STOCK 060505104 3,665 50,000 X X
BANK ONE CORP COM COMMON STOCK 06423A103 8,040 135,000 X X
BEAR STEARNS COS
INC USD1 COM COMMON STOCK 073902108 1,870 40,000 X X
BERKSHIRE HATHAWAY
CL A INC DE COMMON STOCK 084670108 7,441 108 X X
BERKSHIRE HATHAWAY
INC CLASS B COMMON STOCK 084670207 1,614 721 X X
BISYS GROUP INC
COM COMMON STOCK 055472104 1,164 19,900 X X
BLANCH E W HLDGS
INC COM COMMON STOCK 093210102 8,400 123,200 X X
BLOCK H & R INC
COM COMMON STOCK 093671105 1,080 21,600 X X
CAPITAL RE CORP
COM COMMON STOCK 140432105 2,099 130,700 X X
CLARK/BARDES
HOLDING INC COM COMMON STOCK 180668105 5,183 272,800 X X
CONNING CORP COM COMMON STOCK 208215103 325 20,000 X X
DLJDIRECT COM STK COMMON STOCK 257661504 737 25,000 X X
EQUIFAX INC COM COMMON STOCK 294429105 3,571 100,100 X X
4
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EQUITABLECOMPANIES
INC SHS OF COMMON STOCK 29444G107 6,030 90,000 X X
EVEREST REINS
HLDGS INC COMMON STOCK 299808105 1,631 50,000 X X
EXECUTIVE RISK INC
COM COMMON STOCK 301586103 2,457 28,889 X X
FANNIE MAE COM STK COMMON STOCK 313586109 1,105 16,200 X X
FIRST DATA CORP
COM COMMON STOCK 319963104 9,931 202,950 X X
FIRST INVS FINL
SVCS GROUP IN COMMON STOCK 32058A101 1,200 200,000 X X
FREDDIE MAC
USD0.21 COM COMMON STOCK 313400301 1,913 32,990 X X
GALLAGHER ARTHUR J
& CO COM COMMON STOCK 363576109 420 8,500 X X
GOLD BANC CORP INC
COM COMMON STOCK 379907108 393 30,000 X X
HCC INS HLDGS INC
COM COMMON STOCK 404132102 340 15,000 X X
HILB, ROGAL &
HAMILTON CO COMMON STOCK 431294107 429 19,200 X X
INDYMAC MTG
HOLDINGS COM STK COMMON STOCK 456607100 1,878 117,400 X X
INTUIT INC COM COMMON STOCK 461202103 2,986 33,135 X X
LASALLE RE HOLDINGS
LTD COM COMMON STOCK G5383Q101 746 43,900 X X
MARSH & MCLENNAN
COS INC COM COMMON STOCK 571748102 9,608 126,950 X X
MERCANTILE
BANCORPORATION
INC COMMON STOCK 587342106 1,713 30,000 X X
MERCURY GEN CORP
NEW COM COMMON STOCK 589400100 1,972 58,000 X X
NAC RE CORP COM COMMON STOCK 628907107 299 5,700 X X
NATIONWIDE FINL
SVCS INC CL A COMMON STOCK 638612101 2,715 60,000 X X
PANAMSAT CORP COM COMMON STOCK 697933109 3,621 93,000 X X
PARTNERRE LIMITED
BERMUDA COMMON STOCK G6852T105 4,271 114,300 X X
PROVIDENT COS INC
COM COMMON STOCK 743862104 6,062 151,550 X X
PROVIDENT FINANCIAL
HLDGS INC COMMON STOCK 743868101 624 31,200 X X
PXRE CORP COM COMMON STOCK 693674103 485 26,800 X X
REINSURANCE OF AMER
INC CL A N COMMON STOCK 759351208 1,392 41,577 X X
SUPERIOR NATIONAL
INSURANCE GR COMMON STOCK 868224106 6,134 225,100 X X
5
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TERRA NOVA (BERMUDA)
HOLDS LTD COMMON STOCK G87615103 10,954 406,695 X X
WADDELL & REED
FINANCIAL INC COMMON STOCK 930059100 7,058 256,100 X X
XL CAPITAL LTD
CL-A COM STK COMMON STOCK G98255105 8,053 142,542 X X
150,869
6
02081001.AI4
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