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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washinton, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 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: Palm Beach Investment Advisers, LLC
Address: 249 Royal Palm Way
Suite 400
Palm Beach, FL 33480
13F File Number: 801-55843
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: Susan Winters Hoerber
Title: Operations Manager
Phone: 561-650-0200
Signature, Place, and Date of Signing:
Susan Winters Hoerber Palm Beach, Florida May 12, 1999
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
List of Other Managers Reporting for this Manager:
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE
ACT OF 1934.
<PAGE>
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 194
Form 13F Information Table Value Total: $186,074
List of Other Included Managers:
<PAGE>
<TABLE>
FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF 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>
ABB AB-SPONS ADR (abbby) COM. 00256Q103 398 32000 SH OTHER 32000
AIRTOUCH COMMUNICATION COM COM. 00949T100 2425 25100 SH SOLE 25100
97 1000 SH DEFINED 1000
AMERICA ONLINE INC COM. 02364J104 59 400 SH SOLE 400
147 1000 SH DEFINED 1000
AMERICAN HOME PRODS CP COM. 026609107 318 4870 SH SOLE 4870
65 1000 SH OTHER 1000
AMERICAN INTL GROUP COM COM. 026874107 4698 38949 SH SOLE 38949
651 5400 SH OTHER 5400
AT&T CORP COM COM. 001957109 208 2600 SH SOLE 2600
160 2000 SH OTHER 2000
AUTOMATIC DATA PROCESS COM COM. 053015103 1258 30400 SH SOLE 30400
BANK NEW YORK INC COM COM. 064057102 2225 61900 SH SOLE 61900
BANKAMERICA CORP COM. 060505104 1956 27694 SH SOLE 27694
149 2104 SH DEFINED 2104
205 2907 SH OTHER 2907
BECTON DICKINSON & CO COM. 075887109 613 16000 SH SOLE 16000
BELL ATLANTIC CORP COM. 077853109 84 1632 SH SOLE 1632
258 5000 SH OTHER 5000
BELLSOUTH CORP COM. 079860102 490 12230 SH SOLE 12230
104 2600 SH DEFINED 2600
BERKSHIRE/A(brk/a) COM. 084670108 428 6 SH SOLE 6
BP AMOCO PLC-ADR COM. 055622104 401 3973 SH SOLE 3973
67 661 SH DEFINED 661
BRISTOL MYERS SQUIBB COM. 110122108 4535 70720 SH SOLE 70720
769 12000 SH DEFINED 12000
CHEVRON CORPORATION COM. 166751107 177 2000 SH SOLE 2000
89 1000 SH OTHER 1000
CISCO SYSTEMS INC COM. 17275R102 3796 34648 SH SOLE 34648
373 3400 SH DEFINED 3400
493 4500 SH OTHER 4500
CITIGROUP INC COM. 172967101 4121 64524 SH SOLE 64524
466 7300 SH DEFINED 7300
80 1250 SH OTHER 1250
CLOROX CO COM. 189054109 2730 23300 SH SOLE 23300
82 700 SH DEFINED 700
COCA COLA CO COM. 191216100 2808 45750 SH SOLE 45750
595 9700 SH DEFINED 9700
COLGATE PALMOLIVE CO COM. 194162103 1316 14300 SH SOLE 14300
92 1000 SH DEFINED 1000
COMPAQ COMPUTER CORP COM COM. 204493100 1816 57300 SH SOLE 57300
333 10500 SH DEFINED 10500
COSTCO COMPANIES INC COM. 22160Q102 549 6000 SH SOLE 6000
DELL COMPUTER CORP COM. 247025109 3252 79560 SH SOLE 79560
106 2600 SH DEFINED 2600
DQE COM. 23329J104 230 6000 SH SOLE 6000
DU PONT E I DE NEMOURS COM. 263534109 58 1000 SH SOLE 1000
6 100 SH DEFINED 100
238 4100 SH OTHER 4100
DUKE ENERGY CORP COM. 264399106 1165 21260 SH SOLE 21260
225 4100 SH DEFINED 4100
164 3000 SH OTHER 3000
EMC CORP/MASS COM. 268648102 2817 22050 SH SOLE 22050
EMERSON ELEC CO COM. 291011104 318 6000 SH SOLE 6000
16 300 SH DEFINED 300
EQUITY INCOME FUND (AT&T) COM. 294700703 354 2000 SH OTHER 2000
EXXON CORP COM. 302290101 471 6670 SH SOLE 6670
135 1920 SH DEFINED 1920
FEDERAL NATL MTG ASSN COM. 313586109 519 7500 SH SOLE 7500
69 1000 SH OTHER 1000
FIFTH THIRD BANCORP COM. 316773100 2613 39625 SH SOLE 39625
223 3375 SH DEFINED 3375
FIRST UNION CORP COM. 337358105 562 10524 SH SOLE 10524
116 2162 SH DEFINED 2162
FPL GROUP INC COM. 302571104 306 5750 SH SOLE 5750
37 700 SH DEFINED 700
GENERAL ELEC CO COM. 369604103 7740 69966 SH SOLE 69966
814 7360 SH DEFINED 7360
221 2000 SH OTHER 2000
GILLETTE CO COM. 375766102 2502 42100 SH SOLE 42100
12 200 SH DEFINED 200
GTE CORP COM. 362320103 111 1842 SH SOLE 1842
121 2000 SH OTHER 2000
HOME DEPOT INC COM. 437076102 3617 58100 SH SOLE 58100
31 500 SH DEFINED 500
INTEL CORP COM COM. 458140100 2015 16950 SH SOLE 16950
303 2550 SH DEFINED 2550
594 5000 SH OTHER 5000
INTERNATIONAL BUS MACH COM. 459200101 6129 34580 SH SOLE 34580
1138 6420 SH DEFINED 6420
JOHNSON & JOHNSON COM. 478160104 4272 45694 SH SOLE 45694
178 1900 SH DEFINED 1900
187 2000 SH OTHER 2000
KIMBERLY CLARK CORP COM. 494368103 451 9400 SH SOLE 9400
19 400 SH OTHER 400
KINDER MORGAN ENERGY PRTNRS COM. 494550106 506 14600 SH SOLE 14600
253 7300 SH DEFINED 7300
LEVIATHAN GAS PIPELINE L.P.-CO COM. 527367205 252 11100 SH SOLE 11100
159 7000 SH DEFINED 7000
LG&E ENERGY CORP COM. 501917108 202 9700 SH SOLE 9700
LILLY ELI & CO COM. 532457108 3822 45030 SH SOLE 45030
331 3900 SH DEFINED 3900
LUCENT TECHNOLOGIES INC COM. 549463107 5038 46644 SH SOLE 46644
86 800 SH DEFINED 800
540 5000 SH OTHER 5000
MANNESMANN AG-ADR (mnnsy) COM. 563775303 383 3000 SH SOLE 3000
MARSH & MCLENNAN COS COM. 571748102 223 3000 SH SOLE 3000
MCI WORLDCOM INC COM. 55268B106 3777 42650 SH SOLE 42650
115 1300 SH DEFINED 1300
89 1000 SH OTHER 1000
MEDIAONE GROUP INC COM. 58440J104 1345 21200 SH SOLE 21200
MEDTRONIC INC COM. 585055106 862 12000 SH SOLE 12000
MERCK & CO INC COM. 589331107 4191 52300 SH SOLE 52300
329 4100 SH DEFINED 4100
160 2000 SH OTHER 2000
MICROSOFT CORP COM COM. 594918104 5781 64500 SH SOLE 64500
627 7000 SH DEFINED 7000
1075 12000 SH OTHER 12000
MINNESOTA MNG & MFG CO COM. 604059105 290 4100 SH SOLE 4100
7 100 SH DEFINED 100
MOBIL CORP COM. 607059102 532 6040 SH SOLE 6040
176 2000 SH DEFINED 2000
MONSANTO CO COM. 611662107 152 3300 SH SOLE 3300
115 2500 SH OTHER 2500
NESTLE SA-ADR(nsrgy) COM. 641069406 209 2300 SH OTHER 2300
NOKIA CORP-ADR A (nok/a) COM. 7118 45700 SH SOLE 45700
55 350 SH DEFINED 350
592 3800 SH OTHER 3800
PEPSICO INC COM. 713448108 455 11600 SH SOLE 11600
PFIZER INC COM. 717081103 11273 81250 SH SOLE 81250
1165 8400 SH DEFINED 8400
PLAINS ALL AMER PIPELINE LP COM. 726503105 125 7000 SH SOLE 7000
89 5000 SH DEFINED 5000
PLANTRONICS INC COM. 727493108 1358 21700 SH SOLE 21700
263 4200 SH DEFINED 4200
PROCTER & GAMBLE CO COM. 742718109 255 2600 SH SOLE 2600
137 1400 SH DEFINED 1400
ROCHE HOLDINGS LTD-ADR(rohhy) COM. 771195104 976 8000 SH OTHER 8000
RYMER FOODS INC(rfds) COM. 783771306 2257 1805296 SH SOLE 1805296
SBC COMMUNICATIONS INC COM. 78387G103 444 9400 SH SOLE 9400
94 2000 SH DEFINED 2000
94 2000 SH OTHER 2000
SCHERING PLOUGH CORP COM. 806605101 348 6300 SH SOLE 6300
SOUTHERN CO COM. 842587107 364 15600 SH SOLE 15600
68 2900 SH DEFINED 2900
SOUTHTRUST CORP COM. 844730101 1041 27900 SH SOLE 27900
56 1500 SH DEFINED 1500
SPRINT CORP (FON GROUP) COM. 852061100 667 6800 SH SOLE 6800
98 1000 SH OTHER 1000
SUN MICROSYSTEMS INC COM COM. 866810104 1469 11750 SH SOLE 11750
250 2000 SH OTHER 2000
TECO ENERGY INC COM. 872375100 179 9000 SH SOLE 9000
48 2400 SH DEFINED 2400
TELLABS INC COM. 879664100 586 6000 SH SOLE 6000
TIME WARNER INC COM COM. 887315109 375 5300 SH SOLE 5300
U S WEST INC COM. 91273H101 620 11256 SH SOLE 11256
WAL MART STORES INC COM. 931142103 2701 29300 SH SOLE 29300
184 2000 SH DEFINED 2000
WELLS FARGO COMPANY COM. 949746101 196 5600 SH SOLE 5600
35 1000 SH OTHER 1000
WEYERHAEUSER CO COM. 962166104 216 3900 SH SOLE 3900
ABN AMRO CAP 7.50 ser PFD 00371Q202 677 26818 SH SOLE 26818
50 2000 SH DEFINED 2000
AMERICAN EXPRESS 7% PFD PFD 02583Y205 665 26600 SH SOLE 26600
BARCLAYS BANK PLC ADR 8% CONV PFD 06738C836 133 5000 SH SOLE 5000
173 6500 SH DEFINED 6500
BEAR STEARNS CAP 7.5% (CALL 12 PFD 07383J209 402 16000 SH SOLE 16000
CITIGROUP CAP VI (CALLABLE 3/1 PFD 17305L208 516 21000 SH SOLE 21000
COMMONWEALTH GENL 8.875% SER M PFD Y50126377 697 27800 SH SOLE 27800
EQUITABLE RESOURCES 7.35% (CAL PFD 294550207 224 9000 SH SOLE 9000
LEHMAN CAP TRUST I 8% (CALL 3/ PFD 52518B200 330 13000 SH SOLE 13000
LSB INDUSTRIES PFD $3.25 PFD 502160500 6933 252100 SH SOLE 252100
MEDIAONE FIN TR 9.04% 12/31/38 PFD 584458202 127 5000 SH SOLE 5000
102 4000 SH DEFINED 4000
MERRILL LYNCH & CO 7.28% (call PFD 59021K205 228 9000 SH SOLE 9000
25 1000 SH DEFINED 1000
ML CAPITAL TR 7.12% (CALLABLE PFD 59021G204 325 13000 SH SOLE 13000
ML CAPITAL TRUST 7% SERIES D PFD 59021F206 198 8000 SH SOLE 8000
49 2000 SH DEFINED 2000
ML CAPITAL TRUST 8% SERIES C PFD 59021C203 587 22300 SH SOLE 22300
NATIONWIDE FIN SVCS CAP 7.10% PFD 63861E204 214 8500 SH SOLE 8500
OXY CAPITAL TRUST I 8.16% 1/2 PFD 692070204 123 5000 SH SOLE 5000
98 4000 SH DEFINED 4000
PACIFIC TEL FIN 7.56% (CALLABL PFD 694887209 302 12000 SH SOLE 12000
50 2000 SH DEFINED 2000
PSCO CAPITAL 7.6% (CALLABLE 5/ PFD 69360R208 277 11000 SH SOLE 11000
REI TRUST I 7.2% (CALL 2/26/04 PFD 749490207 362 14800 SH SOLE 14800
SEARS ROEBUCK AC 6.95% 10/23/3 PFD 812404309 226 9000 SH SOLE 9000
SOUTHERN CO 7.125% (CALLABLE 0 PFD 842636201 298 12000 SH SOLE 12000
SOUTHERN CP TR V 6.875% 12/31/ PFD 842637209 379 15500 SH SOLE 15500
TENNESSEE VALLEY AUTHORITY 8% PFD 880591102 259 10200 SH SOLE 10200
TRANSAMERICA FINANCE CORP 7.10 PFD 893950204 302 12000 SH SOLE 12000
TRANSAMERICAN CL D NON VOT PFD PFD 89351K90D 0 10123 SH SOLE 10123
TRANSAMERICAN CL E NON VOT PFD PFD 87262520E 0 20946 SH SOLE 20946
UNIONBANCAL FIN TRUST I 7.375% PFD 90905Q109 695 27500 SH SOLE 27500
ONE GROUP DIVERSIFIED EQUITY - 681939781 15310736.507 SH SOLE 10736.507
WORLDCORP WARRANTS(exp 9/30/00 WT 98144910Q 0 86400 SH SOLE 86400
CORPORATE EXPRESS INC CONV/CAL CONV 219888AE4 1513 1700000 PRN SOLE 1700000
HEXCEL CORP CONV 428291AA6 2490 3000000 PRN SOLE 3000000
INCO LTD DEBENTURES (CALLABLE) CONV 453258AK1 2200 2500000 PRN SOLE 2500000
JUMBOSPORTS INC SUB NOTES (CAL CONV 236 4719000 PRN SOLE 4719000
MEDITRUST 7.5% CONVERTIBLE CONV 58501TAC2 2419 2500000 PRN SOLE 2500000
NATL SEMICONDUCTOR SUB DEB (CA CONV 637640AB9 1670 2000000 PRN SOLE 2000000
SUNGLASS HUT SUB NOTES (CONVER CONV 86736FAC0 4346 5572000 PRN SOLE 5572000
</TABLE>
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