Kellner DiLeo & Co.
900 Third Avenue
10th Floor, Suite 1000
New York, NY 10022-4728
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: Mr. Glen M. Friedman
Title: CFO
Phone: 212 350-0262
Signature, Place, and Date of Signing:
Glen M. Friedman New YorkSepember 17, 1999
Report Type: 13F HOLDINGS REPORT
FORM 13F SUMMARY PAGE
Number of other included managers: 0
Form 13F Information Table Value: 4,407,700
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NAME OF REPORTING MANAGER : KELLNER, DILEO & CO.
Fair Investm Voting
Name of Issuer Title of CUSIP Market Shares or DiscretAuthorit
Class Number Value Principal
(thousa Amount
AGOURON PHARMACEUTICALS COM 008488108 998,340 176,500 SOLE SOLE
AIRTOUCH COMMUNICATIONS INC COM 00949T100 24,230 250,800 SOLE SOLE
AIRTOUCH COMMUNICATIONS INC PFD C CV 4.25% 00949T308 2,220 16,500 SOLE SOLE
AIRTOUCH COMMUNICATIONS INC PUT 00949TT95 (17,510) 1,812 P SOLE SOLE
ALKERMES INC COM 01642T108 (3,250) (119,400) SOLE SOLE
ALKERMES INC PFD CV EX $3.25 01642T405 4,650 84,540 SOLE SOLE
ALKERMES INC CALL 01642T908 (410) (150)C SOLE SOLE
ALKERMES INC PUT 01642T958 (410) 150 P SOLE SOLE
AMERICAN BANKERS INS GROUP INC COM 024456105 15,960 307,000 SOLE SOLE
AMERICAN BANKERS INS GROUP INC PFD B CV $3.125 024456204 1,910 18,100 SOLE SOLE
AMERICAN BANKERS INS GROUP INC CALL 024456905 (3,210) (618)C SOLE SOLE
AMERICAN STORES CO NEW COM 030096101 5,600 169,600 SOLE SOLE
AMP INC COM 031897101 36,710 686,200 SOLE SOLE
ASCEND COMMUNICATIONS INC COM 043491109 1,979,220 236,500 SOLE SOLE
BALLARD MED PRODS COM 058566100 11,690 479,500 SOLE SOLE
BANK COMMERCE SAN DIEGO CALF COM 061589107 3,280 162,800 SOLE SOLE
BANKERS TR CORP COM 066365107 20,150 228,300 SOLE SOLE
BANKERS TR CORP CALL 066365907 (7,570) (858)C SOLE SOLE
BANKERS TR CORP PUT 066365957 (20,150) 2,283 P SOLE SOLE
BROWNING FERRIS INDS COM 115885105 7,350 190,500 SOLE SOLE
CALLON PETE CO DEL COM 13123X102 (270) (24,100) SOLE SOLE
CALLON PETE CO DEL PFD A CV EXCH 13123X201 500 18,300 SOLE SOLE
CAPSTAR BROADCASTING CORP CLA 14067G105 6,170 269,000 SOLE SOLE
CENTURY COMMUNICATIONS CORP CLA 156503104 5,120 110,200 SOLE SOLE
CHANCELLOR MEDIA CORP COM 158915108 (6,780) (143,800) SOLE SOLE
CHANCELLOR MEDIA CORP CALL 158915908 (240) (50)C SOLE SOLE
CHIQUITA BRANDS INTL INC COM 170032106 (2,420) (237,600) SOLE SOLE
CHIQUITA BRANDS INTL INC PFD CV B $3.75 170032502 4,740 106,100 SOLE SOLE
CHIQUITA BRANDS INTL INC CALL 170032906 200 200 SOLE SOLE
CHIQUITA BRANDS INTL INC PUT 170032956 430 420 SOLE SOLE
CIENA CORP COM 171779101 2,530 112,400 SOLE SOLE
COLTEC INDS INC COM 196879100 6,060 333,400 SOLE SOLE
COMMONWEALTH ENERGY SYS COM SH BEN INT 202800108 6,630 174,400 SOLE SOLE
DANIEL INDS DEL COM 236235107 1,590 104,000 SOLE SOLE
EAGLE HARDWARE & GARDEN INC COM 26959B101 13,060 342,085 SOLE SOLE
ENRON OIL & GAS CO COM 293562104 1,970 118,300 SOLE SOLE
ENRON OIL & GAS CO CALL 293562904 (600) (360)C SOLE SOLE
EXECUTIVE RISK INC COM 301586103 13,470 189,700 SOLE SOLE
FEDERATED DEPT STORES INC DE COM 31410H101 1,650 41,200 SOLE SOLE
FRONTIER CORP COM 359069105 1,690 32,500 SOLE SOLE
HOME DEPOT INC SB NT CV 3.25%01 437076AE2 1,100 969,700 SOLE SOLE
JACOR COMMUNICATIONS INC CLA 469858401 17,540 230,800 SOLE SOLE
JOHNS-MANVILLE CORP NEW COM 478129109 3,490 202,500 SOLE SOLE
K MART CORP COM 482584109 (194,860) (115,900) SOLE SOLE
K MART CORP CALL 482584909 (840) (500) SOLE SOLE
K N ENERGY INC COM 482620101 1,750 87,900 SOLE SOLE
KTI INC COM NEW 482689205 5,240 508,200 SOLE SOLE
K MART FING I PFD TRCV 7.75% 498778208 3,460 57,200 SOLE SOLE
LEVEL ONE COMMUNICATIONS INC COM 527295109 11,260 231,600 SOLE SOLE
LUCASVARITY PLC SPONSORED ADR 549395101 17,780 384,400 SOLE SOLE
MEDIAONE GROUP INC COM 58440J104 5,360 84,500 SOLE SOLE
MEYER FRED INC NEW DEL COM 592907109 23,340 396,500 SOLE SOLE
MOBIL CORP COM 607059102 6,870 78,100 SOLE SOLE
MORTON INTL INC IND NEW COM 619335102 10,880 296,000 SOLE SOLE
NAC RE CORP COM 628907107 17,530 326,500 SOLE SOLE
NEXSTAR PHARMACEUTICALS INC COM 65333B106 3,060 179,500 SOLE SOLE
NORTH CAROLINA GAS CORP COM 658221106 6,470 213,100 SOLE SOLE
ORANGE & ROCKLAND UTILS INC COM 684065105 14,140 246,200 SOLE SOLE
PHILIPPINE LONG DISTANCE TEL SPONSORED ADR 718252604 (2,990) (115,500) SOLE SOLE
PHILIPPINE LONG DISTANCE TEL SPN GLB DEP SH 718252703 534,850 112,600 SOLE SOLE
PHILIPPINE LONG DISTANCE TEL CSLL 718252904 (10) (275) SOLE SOLE
PHILIPPINE LONG DISTANCE TEL PUT 718252954 (130) 50 P SOLE SOLE
PIONEER HI-BRED INTL INC COM 723686101 6,110 162,500 SOLE SOLE
ST JOHNS KNITS INC COM 790289102 5,270 199,800 SOLE SOLE
SEALED AIR CORP NEW COM 81211K100 (2,380) (48,300) SOLE SOLE
SEALED AIR CORP NEW PFD CV A $2 81211K209 352,940 71,300 SOLE SOLE
SOUTHWEST GAS CORP COM 844895102 7,270 264,400 SOLE SOLE
SUNSTRAND CORP COM 867323107 13,760 198,000 SOLE SOLE
TELECOM ITALIA S P A SPONS ADR ORD 87927W106 5,430 52,000 SOLE SOLE
TRANAMERICA CORP COM 893485102 14,060 198,000 SOLE SOLE
UNISYS CORP COM 909214108 (530) (19,192) SOLE SOLE
UNISYS CORP PFD A CV $3.75 909214207 168,230 32,430 SOLE SOLE
UNISYS CORP CALL 909214908 (140) (50)C SOLE SOLE
UNISYS CORP PUT 909214958 (510) 184 P SOLE SOLE
UNITED STATES FILTER CORP NE CALL 911843109 (90) (28)C SOLE SOLE
UNITED STATES FILTER CORP NE COM NEW 911843209 2,140 70,000 SOLE SOLE
VLSI TECHNOLOGY INC COM 918270109 6,370 328,800 SOLE SOLE
VLSI TECHNOLOGY INC CALL 918270909 (2,910) (1,500)C SOLE SOLE
WHX CORP COM 929248102 (590) (75,400) SOLE SOLE
WHX CORP PFD CV SER A 929248201 127,300 36,700 SOLE SOLE
WHX CORP PUT 929248952 (80) 100 P SOLE SOLE
WANG LABS INC NEW COM 93369N109 (540) (27,400) SOLE SOLE
WANG LABS INC NEW WT EXP 070201 93369N117 38,200 76,400 SOLE SOLE
WANG LABS INC NEW CALL 93369N909 (1,020) (520)C SOLE SOLE
WANG LABS INC NEW PUT 93369N959 (400) 205 P SOLE SOLE
XYLN CORP COM 984151100 6,070 165,000 SOLE SOLE
PIONEER HI-BRED INTL INC COM 723686101 6,110 162,500 SOLE SOLE
ST JOHNS KNITS INC COM 790289102 5,270 199,800 SOLE SOLE
SEALED AIR CORP NEW COM 81211K100 (2,380) (48,300) SOLE SOLE
SEALED AIR CORP NEW PFD CV A $2 81211K209 3,530 71,300 SOLE SOLE
SOUTHWEST GAS CORP COM 844895102 7,270 264,400 SOLE SOLE
SUNSTRAND CORP COM 867323107 13,760 198,000 SOLE SOLE
TELECOM ITALIA S P A SPONS ADR ORD 87927W106 5,430 52,000 SOLE SOLE
TRANAMERICA CORP COM 893485102 14,060 198,000 SOLE SOLE
UNISYS CORP COM 909214108 (530) (19,192) SOLE SOLE
UNISYS CORP PFD A CV $3.75 909214207 1,680 32,430 SOLE SOLE
UNISYS CORP CALL 909214908 (140) (50)C SOLE SOLE
UNISYS CORP PUT 909214958 (510) 184 P SOLE SOLE
UNITED STATES FILTER CORP NE CALL 911843109 (90) (28)C SOLE SOLE
UNITED STATES FILTER CORP NE COM NEW 911843209 2,140 70,000 SOLE SOLE
VLSI TECHNOLOGY INC COM 918270109 6,370 328,800 SOLE SOLE
VLSI TECHNOLOGY INC CALL 918270909 (2,910) (1,500)C SOLE SOLE
WHX CORP COM 929248102 (590) (75,400) SOLE SOLE
WHX CORP PFD CV SER A 929248201 1,270 36,700 SOLE SOLE
WHX CORP PUT 929248952 (80) 100 P SOLE SOLE
WANG LABS INC NEW COM 93369N109 (540) (27,400) SOLE SOLE
WANG LABS INC NEW WT EXP 070201 93369N117 380 76,400 SOLE SOLE
WANG LABS INC NEW CALL 93369N909 (1,020) (520)C SOLE SOLE
WANG LABS INC NEW PUT 93369N959 (400) 205 P SOLE SOLE
XYLN CORP COM 984151100 6,070 165,000 SOLE SOLE
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