UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: 12/31/98
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: KBW Asset Management, Inc.
Address: Two World Trade Center, 85th Floor
New York, New York 10048
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:
Reporting Manager:
Name: Michael T. O'Brien
Title: President
Phone: 212-432-4502
Signature, Place, and Date of Signing:
Michael T. O'Brien
[Signature]
New York, New York
[City, State]
June 30, 1999
[Date]
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 managers(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).)
<PAGE>
Form 13F Summary Page
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 85
Form 13F Information Table Value Total: $141,236 (thousands)
List of Other Included Managers: None
<PAGE>
<TABLE>
<CAPTION>
VALUE SHARES/ SH/ PUT/ INVSTMT -----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>
ASSOCIATED BANC CORP COM 45487105 2854 83468 SH SOLE X
ASSOCIATED BANC CORP COM 45487105 342 10000 SH SOLE X
ASTORIA FINANCIAL CORP COM 46265104 4157 90875 SH SOLE X
BANK ONE CORP COM 06423A103 5081 99500 SH SOLE X
BANK ONE CORP COM 06423A103 225 4400 SH SOLE X
BANKBOSTON CORP COM 06605R106 3053 78400 SH SOLE X
CALIFORNIA FEDERAL BANK-A FSB COM 130209703 118 9700 SH SOLE X
FRISTAR CORP JAN 75 33763V9AO -52 -29 SH CALL SOLE X
CAPITAL ONE FINANCIAL CORP COM 14040H105 575 5000 SH SOLE X
CCB FINANCIAL CORP COM 124875105 570 10000 SH SOLE X
CHARTER ONE FINANCIAL INC COM 160903100 6166 222207 SH SOLE X
CHARTER ONE FINANCIAL INC COM 160903100 555 20000 SH SOLE X
COLONIAL BANCGROUP INC COM 195493309 1000 83300 SH SOLE X
COLONIAL BANCGROUP INC COM 195493309 23 1900 SH SOLE X
COMERICA INC COM 200340107 2383 34950 SH SOLE X
COMMERCIAL FEDERAL CORP COM 201647104 1591 68600 SH SOLE X
COMMERCIAL FEDERAL CORP COM 201647104 148 6400 SH SOLE X
COMMUNITY FIRST BANKSHARES INC COM 203902101 1053 50000 SH SOLE X
COMPASS BANCSHARES INC COM 20449H109 3026 79500 SH SOLE X
COMPASS BANCSHARES INC COM 20449H109 145 3800 SH SOLE X
CRESTAR FINANCIAL CORP COM 226091106 72 1000 SH SOLE X
CULLEN FROST BANKERS INC COM 229899109 5899 107500 SH SOLE X
CULLEN FROST BANKERS INC COM 229899109 154 2800 SH SOLE X
DIME BANCORP INC COM 25429Q102 3281 125000 SH SOLE X
FIRST AMERICAN CORP-TENN COM 318900107 4438 100000 SH SOLE X
FIRST AMERICAN CORP-TENN COM 318900107 155 3500 SH SOLE X
FIRST ESSEX BANCORP INC W/RTS COM 320103104 954 53000 SH SOLE X
<PAGE>
FIRST ESSEX BANCORP INC W/RTS COM 320103104 243 13500 SH SOLE X
FIRST MIDWEST BANCORP INC-DEL COM 320867104 533 14000 SH SOLE X
FIRST SECURITY CORP-DEL COM 336294103 5318 227500 SH SOLE X
FIRST SECURITY CORP-DEL COM 336294103 79 3400 SH SOLE X
FIRST UNION CORP COM 337358105 2 30 SH SOLE X
FIRSTAR CORP WIS-NEW COM 33763V109 3534 38000 SH SOLE X
FIRSTAR CORP WIS-NEW COM 33763V109 -195 -2100 SH SOLE X
GOLDEN STATE BANCORP INC COM 381197102 1663 100000 SH SOLE X
GOLDEN WEST FINANCIAL CORP-DEL COM 381317106 1375 15000 SH SOLE X
GREENPOINT FINANCIAL CORP-DEL COM 395384100 7503 213600 SH SOLE X
HAVEN BANCORP INC COM 419352109 2925 195000 SH SOLE X
HUBCO INC COM 404382103 2748 91232 SH SOLE X
IMPERIAL BANCORP COM 452556103 1787 107500 SH SOLE X
INVESTORS FINANCIAL SERVICES COM 461915100 2129 35700 SH SOLE X
KEYCORP NEW COM 493267108 3053 95400 SH SOLE X
KEYCORP NEW COM 493267108 320 10000 SH SOLE X
M & T BANK CORP COM COM 55261F104 1608 3099 SH SOLE X
MAF BANCORP INC COM 55261R108 2551 96250 SH SOLE X
MECH FINANCIAL INC COM 583492103 555 20000 SH SOLE X
MEDFORD BANCORP INC COM 584131106 2278 136000 SH SOLE X
MERCANTILE BANKSHARES CORP COM 587405101 809 21000 SH SOLE X
NATIONAL COMMERCE BANCORPORATION COM 635449101 2464 131000 SH SOLE X
NORTH FORK BANCORPORATION INC COM 659424105 4248 177475 SH SOLE X
NORTH FORK BANCORPORATION INC COM 659424105 479 20000 SH SOLE X
PEOPLES HERITAGE FINL GROUP COM 711147108 1600 80000 SH SOLE X
PEOPLES HERITAGE FINL GROUP COM 711147108 200 10000 SH SOLE X
PRIME BANCSHARES INC-TEX COM 74157H108 659 38200 SH SOLE X
PRIME BANCSHARES INC-TEX COM 74157H108 311 18000 SH SOLE X
BANK ONE CP JAN 50 0640239MJ -2 -20 SH PUT SOLE X
COLONIAL BAN JAN 12.5 1954939MV -4 -50 SH PUT SOLE X
<PAGE>
FIRSTAR CORP JAN 90 33763V9MR 4 20 SH PUT SOLE X
FLEET FINL G JAN 40 3389156MH -3 -100 SH PUT SOLE X
KEYCORP NEW MAR 30 4932679OF -8 -50 SH PUT SOLE X
NORTH FORK B FEB 20 6594249ND -2 -50 SH PUT SOLE X
PEOPLES HERI FEB 20 7111479ND -26 -200 SH PUT SOLE X
SUMMIT BANC JAN 40 8660059MH -5 -135 SH PUT SOLE X
U S BANCORP MAR 30 9029739OF -3 -30 SH PUT SOLE X
U S BANCORP MAR 35 9029739OG -13 -50 SH PUT SOLE X
U S BANKCORP JAN 35 9029739MG -4 -50 SH PUT SOLE X
QUEENS COUNTY BANCORP INC COM 748242104 6024 202500 SH SOLE X
RELIANCE BANCORP INC COM 759451107 3059 110000 SH SOLE X
RELIANCE BANCORP INC COM 759451107 487 17500 SH SOLE X
RTS COAST FEDERAL LITIGATION COM 19034Q110 722 109000 SH SOLE X
SEACOAST FINANCIAL SERVICES COM 81170Q106 1743 170000 SH SOLE X
SEACOAST FINANCIAL SERVICES COM 81170Q106 256 25000 SH SOLE X
SOVEREIGN BANCORP INC COM 845905108 4432 311040 SH SOLE X
SOVEREIGN BANCORP INC COM 845905108 570 40000 SH SOLE X
STATEN ISLAND BANCORP COM 857550107 997 50000 SH SOLE X
SUMMIT BANCORP COM 866005101 1930 44168 SH SOLE X
U S BANCORP-DEL COM 902973106 249 7000 SH SOLE X
U S T CORP COM 902900109 85559 363250 SH SOLE X
UNION PLANTERS CORP COM 908068109 4599 101500 SH SOLE X
UNION PLANTERS CORP COM 908068109 227 5000 SH SOLE X
WASHINGTON MUTUAL INC COM 939322103 3610 94065 SH SOLE X
WEBSTER FINANCIAL CORP COM 947890109 2444 89080 SH SOLE X
WELLS FARGO & CO-NEW COM 949746101 399 10000 SH SOLE X
WESTERN BANCORP COM 957683105 1907 65200 SH SOLE X
WTS GOLDEN STATE BANCORP INC COM 381197136 347 76000 SH SOLE X
</TABLE>
