<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: December 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: SLS Management, LLC
Address: 140 West 57th Street, Suite 7B
New York, New York 10019
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: Steven Rohlfing
Title: Controller
Phone: (212) 537-3605
Signature, Place, and Date of Signing:
/s/ Steven Rohlfing New York, New York 2/14/00
__________________ _______________ ______________
[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 her if no holdings reported are in
this report, and all holdings are reported by other
reporting manger(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:
Form 13F Information Table Entry Total: 31
Form 13F Information Table Value Total: 104,732
[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 None
28-
[Repeat as necessary.]
3
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<TABLE>
Holdings of US Listed equities held as at December 31, 1999
<CAPTION>
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
------ ------ ------ ------ ------ ------ ------ ------
FAIR INVESTMENT
TITLE CUSIP MARKET SHRS OR DISCRETION OTHER VOTING AUTHORITY
NAME OF ISSUER OF CLASS NUMBER VALUE PRN AMT SH/PRN SOLE SHARED MANAGERS SOLE SHARED NONE
(thousands)
- -------------- -------- ------ ------ ------- ------ -------- ----------- -------- ---- ------ ----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Cleveland Indians
Baseball Common Stock 186202107 7,952 379,800 345,337 34,463 NO 345,337 34,463
Triad Hospitals,
Inc. Common Stock 89579K109 7,733 511,300 468,338 42,962 NO 468,338 42,962
Park Place
Entertainment Common Stock 700690100 7,129 570,300 519,552 50,748 NO 519,552 50,748
Bally Total
Fitness Hldgs Common Stock 05873K108 7,011 262,699 240,380 22,319 NO 240,380 22,319
Citizens Utilities
Co. Common Stock 177342201 5,929 417,900 380,960 36,940 NO 380,960 36,940
Columbia/HCA
Healthcare Common Stock 197677107 5,863 200,000 182,414 17,586 NO 182,414 17,586
Kroger Company Common Stock 501044101 5,379 285,000 260,205 24,795 NO 260,205 24,795
Laser Mortgage
Mgt., Inc. Common Stock 51806D100 4,745 1,167,900 1,062,739 105,161 NO 1,062,739 105,161
Elbit Ltd. Common Stock 284275104 4,592 259,600 237,450 22,150 NO 237,450 22,150
Medicis
Pharmaceutical Common Stock 584690309 4,329 101,700 92,852 8,848 NO 92,852 8,848
Next Level Common Stock 65333U104 4,118 55,000 50,215 4,785 NO 50,215 4,785
Pactiv Corporation Common Stock 695257105 3,997 376,200 343,471 32,729 NO 343,471 32,729
El Paso Electric
Company Common Stock 283677854 3,449 351,500 320,213 31,287 NO 320,213 31,287
Birmingham Steel
Corp Common Stock 091250100 3,126 588,333 493,227 95,106 NO 493,227 95,106
Breakaway
Solutions Common Stock 106372105 2,957 40,500 36,881 3,619 NO 36,881 3,619
FirstCom
Corporation Common Stock 33763T104 2,903 79,000 72,388 6,612 NO 72,388 6,612
ACE Limited Common Stock G0070K103 2,892 173,300 158,223 15,077 NO 158,223 15,077
Terayon
Communication
Systems Common Stock 880775101 2,513 40,000 36,520 3,480 NO 36,520 3,480
Starwood Hotels
& Resorts Common Stock 85590A203 2,115 90,000 82,170 7,830 NO 82,170 7,830
Healthsouth Corp. Common Stock 421924101 1,974 367,200 334,730 32,470 NO 334,730 32,470
4
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Casino Data
Systems Common Stock 147583108 1,720 429,956 366,191 63,765 NO 366,191 63,765
Argosy Gaming
Company Common Stock 040228108 1,712 110,000 100,865 9,135 NO 100,865 9,135
Lyondell Chemical
Company Common Stock 552078107 1,658 130,000 118,690 11,310 NO 118,690 11,310
CVC Inc. Common Stock 126945104 1,559 162,000 148,297 13,703 NO 148,297 13,703
Telespectrum
Worldwide Common Stock 87951U109 1,550 217,500 200,970 16,530 NO 200,970 16,530
Total Renal Care
Holdings Common Stock 89151A107 1,513 226,200 208,217 17,983 NO 208,217 17,983
APAC Customer
Service Common Stock 00185E106 1,406 100,000 91,300 8,700 NO 91,300 8,700
Jacada Ltd. Common Stock 1,394 50,000 45,650 4,350 NO 45,650 4,350
Amazon.com Common Stock 023135106 761 10,000 9,130 870 NO 9,130 870
Harris
Interactive,
Inc. Common Stock 414549105 458 35,100 35,100 0 NO 35,100 0
Windmere-Durable
Holdings Common Stock 973411101 298 17,500 15,978 1,522 NO 15,978 1,522
Total 104,732
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</TABLE>
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02740001.AA4
