UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: 31 December 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: Beta Management Limited
Address: Second Floor, Zephyr House, Mary Street
P.O. Box 709
George Town, Grand Cayman
Cayman Islands, BWI
13F File Number:
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: Rajpal Arulpragasam
Title: President
Phone: (203) 497-8750
Rajpal Arulpragasam New Haven, CT 04 January 2000
Report Type (Check only one)
[X] 13F HOLDINGS REPORT
[ ] 13F NOTICE
[ ] 13F COMBINATION REPORT
List of Other Managers Reporting for this Manager:
<TABLE> <C> <C>
FORM 13F INFORMATION TABLE
NAME OF TITLE OF CUSIP VALUE SHARES SH/PRN INVST OTHER VOTING AUTHORITY
ISSUER CLASS (x$1000) DESC MGR SOLE SHARED NONE
- ------------------------------------------------------------------------------------------------------------------------
AMFM Inc. COM 001693100 1972 25200 SH SOLE 14000 0 11200
Adelphia Communicati COM 006848105 1083 16500 SH SOLE 9900 0 6600
Advanced Fibre Commu COM 00754A105 697 15600 SH SOLE 11200 0 4400
Aetna Inc. COM 008117103 921 16500 SH SOLE 11400 0 5100
Aironet Wireless Com COM 00943A107 848 12700 SH SOLE 7300 0 5400
Alcan Aluminium Ltd. COM 013716105 1552 37500 SH SOLE 25100 0 12400
Alpha Inds COM 020753109 1943 33900 SH SOLE 19300 0 14600
American Eagle Outfi COM 02553E106 999 22200 SH SOLE 12600 0 9600
American Home Produc COM 026609107 1197 30500 SH SOLE 18200 0 12300
Ames Dept Stores Inc COM 030789507 735 25500 SH SOLE 16300 0 9200
Ancor Communications COM 03332K108 292 4300 SH SOLE 2600 0 1700
Antec Corp. COM 03664P105 493 13500 SH SOLE 8300 0 5200
Apollo Group Inc. COM 037604105 1162 57900 SH SOLE 26900 0 31000
Apple Computer Inc. COM 037833100 843 8200 SH SOLE 4900 0 3300
Astoria Financial Co COM 046265104 1023 33600 SH SOLE 17500 0 16100
Baker Hughes Inc. COM 057224107 543 25800 SH SOLE 16200 0 9600
Best Buy Co. Inc. COM 086516101 362 7200 SH SOLE 4100 0 3100
Biochem Pharma Inc. COM 09058T108 87 4000 SH SOLE 3000 0 1000
Block H & R Inc. COM 093671105 464 10600 SH SOLE 6600 0 4000
Bluestone Software I COM 09623P102 771 6700 SH SOLE 3800 0 2900
Boise Cascade Corp. COM 097383103 284 7000 SH SOLE 5100 0 1900
Boston Scientific Co COM 101137107 768 35100 SH SOLE 25800 0 9300
Bowater Inc. COM 102183100 109 2000 SH SOLE 1200 0 800
Broadcom Corp. COM 111320107 545 2000 SH SOLE 1200 0 800
Burlington Northern COM 12189T104 199 8200 SH SOLE 2900 0 5300
CSG Systems Internat COM 126349109 670 16800 SH SOLE 10400 0 6400
Cabletron Systems COM 126920107 182 7000 SH SOLE 3200 0 3800
Cendant Corporation COM 151313103 834 31400 SH SOLE 21500 0 9900
Ceridian Corp. COM 15677T106 1488 69000 SH SOLE 42500 0 26500
Ciena Corp. COM 171779101 196 3400 SH SOLE 2300 0 1100
Cigna Corp. COM 125509109 1088 13500 SH SOLE 7400 0 6100
Cisco Systems Inc. COM 17275R102 2025 18900 SH SOLE 11500 0 7400
Clear Channel Commun COM 184502102 1803 20200 SH SOLE 10300 0 9900
Clorox Company COM 189054109 1234 24500 SH SOLE 18000 0 6500
Colgate-Palmolive Co COM 194162103 1794 27600 SH SOLE 15700 0 11900
Columbia Energy Grou COM 197648108 2821 44600 SH SOLE 26200 0 18400
Columbia HCA Healthc COM 197677107 2764 94300 SH SOLE 57400 0 36900
Comdisco Inc. COM 200336105 946 25400 SH SOLE 11700 0 13700
Computer Sciences Co COM 205363104 2366 25000 SH SOLE 15600 0 9400
Conagra Inc. COM 205887102 742 32700 SH SOLE 16800 0 15900
Concentric Network C COM 20589R107 592 19200 SH SOLE 12100 0 7100
Conexant Systems Inc COM 207142100 372 5600 SH SOLE 2600 0 3000
Consolidated Natural COM 209615103 610 9400 SH SOLE 3300 0 6100
Continental Airlines COM 210795308 271 6100 SH SOLE 3100 0 3000
Credence Systems Cor COM 225302108 631 7300 SH SOLE 4800 0 2500
Critical Path Inc COM 22674V100 415 4400 SH SOLE 2700 0 1700
Cummins Engine COM 231021106 908 18800 SH SOLE 8100 0 10700
Delta Air Lines Inc. COM 247361108 677 13600 SH SOLE 6100 0 7500
Disney (Walt) COM 254687106 2834 96900 SH SOLE 54000 0 42900
Dollar Tree Stores I COM 256747106 533 11000 SH SOLE 8600 0 2400
Donnelley (R.R.) & S COM 257867101 2074 83600 SH SOLE 42900 0 40700
ECI Telecom Ltd COM 268258100 2792 88300 SH SOLE 52400 0 35900
EMC Corp-Mass COM 268648102 1781 16300 SH SOLE 9500 0 6800
Earthlink Network In COM 270322100 910 21400 SH SOLE 17100 0 4300
Eastman Kodak Co. COM 277461109 3432 51800 SH SOLE 24700 0 27100
Edison International COM 281020107 1721 65700 SH SOLE 38800 0 26900
Egain Communications COM 28225C103 479 12700 SH SOLE 7200 0 5500
Electronic Arts Inc. COM 285512109 1134 13500 SH SOLE 8900 0 4600
Electronics FOR Imag COM 286082102 494 8500 SH SOLE 6700 0 1800
Eli Lilly & Co. COM 532457108 2254 33900 SH SOLE 19100 0 14800
Entrust Technologies COM 293848107 1223 20400 SH SOLE 11300 0 9100
Express Scripts Inc. COM 302182100 845 13200 SH SOLE 9400 0 3800
Fastenal Co. COM 311900104 386 8600 SH SOLE 3600 0 5000
Federal-Mogul Corp. COM 313549107 1765 87700 SH SOLE 51800 0 35900
Federated Department COM 31410H101 895 17700 SH SOLE 10500 0 7200
Finova Group Inc. COM 317928109 735 20700 SH SOLE 10900 0 9800
Fort James Corporati COM 347471104 701 25600 SH SOLE 15800 0 9800
GEMSTAR INTL GRP COM 713 10000 SH SOLE 5700 0 4300
Galileo Internationa COM 363547100 623 20800 SH SOLE 10300 0 10500
General Motors Corp. COM 370442105 1832 25200 SH SOLE 15900 0 9300
Genesis Microchip In COM 371933102 562 26600 SH SOLE 16300 0 10300
Gilead Sciences Inc. COM 375558103 460 8500 SH SOLE 5100 0 3400
Gillette Company COM 375766102 2813 68300 SH SOLE 38900 0 29400
Global Crossing Ltd. COM 625 12500 SH SOLE 7400 0 5100
Globespan Inc. COM 379571102 443 6800 SH SOLE 3800 0 3000
Go2net Inc. COM 383486107 574 6600 SH SOLE 3700 0 2900
Goodrich (B.F.) Co. COM 382388106 2547 92600 SH SOLE 54700 0 37900
Goodyear Tire & Rubb COM 382550101 255 9100 SH SOLE 4700 0 4400
Grainger (W.W.) Inc. COM 384802104 545 11400 SH SOLE 6500 0 4900
Guidant Corp. COM 401698105 1358 28900 SH SOLE 18000 0 10900
HI/FN Inc. COM 428358105 213 5500 SH SOLE 3200 0 2300
Hasbro Inc. COM 418056107 489 25800 SH SOLE 11200 0 14600
Hispanic Broadcastin COM 43357B104 2029 22000 SH SOLE 13800 0 8200
Hughes Electronics C COM 370442832 2227 23200 SH SOLE 14400 0 8800
ICG Communications I COM 449246107 1239 66100 SH SOLE 33800 0 32300
IDT Corp. COM 448947101 287 15200 SH SOLE 8200 0 7000
IMS Health Inc. COM 449934108 601 22100 SH SOLE 11900 0 10200
ISS Group Inc. COM 450306105 384 5400 SH SOLE 500 0 4900
Illinois Tool Works COM 452308109 919 13600 SH SOLE 8300 0 5300
InterVU Inc. COM 46114R106 819 7800 SH SOLE 4700 0 3100
Intermedia Communica COM 458801107 1137 29300 SH SOLE 16400 0 12900
International Busine COM 459200101 1305 12100 SH SOLE 6600 0 5500
International Paper COM 460146103 1027 18200 SH SOLE 9300 0 8900
Internet Capital Gro COM 46059C106 969 5700 SH SOLE 3200 0 2500
Interpublic Group Co COM 460690100 704 12200 SH SOLE 3600 0 8600
J.P. Morgan & Compan COM 616880100 582 4600 SH SOLE 2300 0 2300
K-Swiss Inc. COM 482686102 537 28900 SH SOLE 25100 0 3800
Keycorp COM 493267108 478 21600 SH SOLE 10800 0 10800
Laser Vision Centers COM 51807H100 456 43200 SH SOLE 25200 0 18000
Lattice Semiconducto COM 518415104 66 1400 SH SOLE 800 0 600
Lincare Holdings Inc COM 532791100 1544 44500 SH SOLE 20700 0 23800
Lockheed Martin Corp COM 539830109 2037 93100 SH SOLE 53200 0 39900
MGIC Investment Corp COM 552848103 3112 51700 SH SOLE 35500 0 16200
MTI Technology Corp. COM 553903105 911 24700 SH SOLE 15300 0 9400
Maytag Corp. COM 578592107 1368 28500 SH SOLE 16100 0 12400
McLeodUSA Inc. COM 582266102 671 11400 SH SOLE 6600 0 4800
MediaOne Group Inc. COM 58440J104 991 12900 SH SOLE 7000 0 5900
Medical Manager Corp COM 58461U103 497 5900 SH SOLE 3400 0 2500
Monsanto Co COM 611662107 2094 59100 SH SOLE 32900 0 26200
Mylan Laboratories COM 628530107 2829 112300 SH SOLE 63200 0 49100
Nabors Industries In COM 629568106 928 30000 SH SOLE 15500 0 14500
National Semiconduct COM 637640103 899 21000 SH SOLE 11000 0 10000
Netro Corp. COM 64114R109 704 13800 SH SOLE 7900 0 5900
Network Associates I COM 640938106 318 11900 SH SOLE 5000 0 6900
Newell Rubbermaid In COM 651229106 682 23500 SH SOLE 10800 0 12700
Nike Inc. COM 654106103 862 17400 SH SOLE 9400 0 8000
Northwest Airlines C COM 667280101 458 20600 SH SOLE 10900 0 9700
Nucor Corp. COM 670346105 1370 25000 SH SOLE 11000 0 14000
Open Market Inc. COM 68370M100 338 7500 SH SOLE 4100 0 3400
Outback Steakhouse I COM 689899102 239 9200 SH SOLE 5600 0 3600
Oxford Health Plans COM 691471106 244 19200 SH SOLE 4600 0 14600
Pairgain Technologie COM 695934109 909 64100 SH SOLE 37200 0 26900
Papa John's Internat COM 698813102 412 15800 SH SOLE 8400 0 7400
Paradyne Networks Co COM 69911G107 1226 45000 SH SOLE 24600 0 20400
Parker Hannifin Corp COM 701094104 1468 28600 SH SOLE 12400 0 16200
Peoplesoft Inc. COM 712713106 533 25000 SH SOLE 15300 0 9700
Pepsico Inc. COM 713448108 1082 30700 SH SOLE 18700 0 12000
Phelps Dodge Corp. COM 717265102 997 14800 SH SOLE 8400 0 6400
Philip Morris Compan COM 718154107 702 30500 SH SOLE 18900 0 11600
Phillips Petroleum C COM 718507106 2486 52900 SH SOLE 37100 0 15800
Power Integrations I COM 739276103 786 16400 SH SOLE 9300 0 7100
Powerwave Technologi COM 739363109 1022 17500 SH SOLE 10300 0 7200
Procter & Gamble Co. COM 742718109 1512 13800 SH SOLE 7300 0 6500
QLT Phototherapeutic COM 746927102 1075 18300 SH SOLE 11700 0 6600
Qualcomm Inc. COM 747525103 1127 6400 SH SOLE 3700 0 2700
RJ Reynolds Tobacco COM 76182K105 1188 67400 SH SOLE 34600 0 32800
ROYAL CARI STK COM V7780T103 128 2600 SH SOLE 500 0 2100
RSL COMMUNICATIONS L COM 1134 66200 SH SOLE 37700 0 28500
Rambus Inc. COM 750917106 1187 17600 SH SOLE 10500 0 7100
Ross Stores Inc. COM 778296103 1483 82700 SH SOLE 43000 0 39700
SFX Entertainment In COM 784178105 72 2000 SH SOLE 1200 0 800
Sanmina Corp. COM 800907107 849 8500 SH SOLE 4900 0 3600
Sawtek Inc. COM 805468105 459 6900 SH SOLE 5400 0 1500
Schering-Plough Corp COM 806605101 581 13700 SH SOLE 9900 0 3800
Seagate Technology I COM 811804103 1280 27500 SH SOLE 14800 0 12700
Security First Techn COM 814279105 945 12100 SH SOLE 8000 0 4100
Sepracor Inc. COM 817315104 1270 12800 SH SOLE 7800 0 5000
Snyder Communication COM 832914105 2356 122400 SH SOLE 73000 0 49400
Softnet Systems COM 833964109 339 13500 SH SOLE 8100 0 5400
Sterling Commerce In COM 859205106 2924 86000 SH SOLE 46800 0 39200
Summit Technology In COM 86627E101 657 56200 SH SOLE 32400 0 23800
Sun Microsystems Inc COM 866810104 1750 22600 SH SOLE 14300 0 8300
Sungard Data Systems COM 867363103 960 40400 SH SOLE 21400 0 19000
Sunoco Inc. COM 86764P109 1253 53300 SH SOLE 21200 0 32100
Sylvan Learning Syst COM 871399101 576 44300 SH SOLE 27500 0 16800
TOMMY HILFIGER STK COM G8915Z102 792 33900 SH SOLE 21100 0 12800
TRANSOCEAN OFF COM G90076103 2143 63600 SH SOLE 43000 0 20600
TRW Inc COM 872649108 1984 38200 SH SOLE 20100 0 18100
Telefonaktiebolaget COM 294821400 289 4400 SH SOLE 2000 0 2400
Teligent Inc. COM 87959Y103 222 3600 SH SOLE 2500 0 1100
Tenet Healthcare Cor COM 88033G100 1711 72800 SH SOLE 46600 0 26200
Tosco Corp. COM 891490302 1846 67900 SH SOLE 36200 0 31700
Transaction Systems COM 893416107 1221 43600 SH SOLE 25900 0 17700
Tricon Global Restau COM 895953107 560 14500 SH SOLE 7600 0 6900
USG Corp. COM 903293405 891 18900 SH SOLE 7400 0 11500
Union Pacific Corp. COM 907818108 1547 35400 SH SOLE 20800 0 14600
Unisys Corporation COM 909214108 1961 61400 SH SOLE 36500 0 24900
United Healthcare Co COM 910581107 967 18200 SH SOLE 10400 0 7800
United Technologies COM 913017109 1911 29400 SH SOLE 17000 0 12400
Univision Communicat COM 914906102 2463 24100 SH SOLE 10400 0 13700
UnumProvident Corp. COM 91529Y106 420 13100 SH SOLE 6800 0 6300
VeriSign Inc. COM 92343E102 286 1500 SH SOLE 500 0 1000
Veritas Software Cor COM 923436109 673 4700 SH SOLE 2100 0 2600
Vodafone AirTouch Pl COM 92857T107 1653 33400 SH SOLE 18600 0 14800
Walgreen Co. COM 931422109 1600 54700 SH SOLE 40600 0 14100
Warner-Lambert Co. COM 934488107 983 12000 SH SOLE 6900 0 5100
Waste Management Inc COM 94106L109 1555 90500 SH SOLE 57700 0 32800
Waters Corp. COM 941848103 869 16400 SH SOLE 6500 0 9900
Watson Pharmaceutica COM 942683103 1028 28700 SH SOLE 18600 0 10100
Weatherford Internat COM 947074100 1566 39200 SH SOLE 23600 0 15600
Whirlpool Corp. COM 963320106 2316 35600 SH SOLE 15900 0 19700
Whole Foods Market I COM 966837106 2212 47700 SH SOLE 21500 0 26200
Williams Cos. Inc. COM 969457100 721 23600 SH SOLE 15500 0 8100
Wind River Systems COM 973149107 663 18100 SH SOLE 11100 0 7000
Xircom Inc. COM 983922105 1290 17200 SH SOLE 11300 0 5900
</TABLE>
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 185
Form 13F Information Table Value Total: $200294 (x1000)
List of Other Included Managers:
