United States
Securities and Exchange Commission
Washington, D.C. 20549
FORM 13F HR
FORM 13F HR 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:
Manchester Capital Corporation
635 Madison Avenue
New York, New York 10022
13F File Number 028-03451
The institutional investment manager filing this report and the person by whom
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 to contact for further information:
Richard Kaufman (212) 832-3112
Person signing this Report on Behalf of the Reporting Manager:
Name: Richard Kaufman
Title: Executive Vice President
Phone: (212) 832-3112
Signature, Place and Date of Signing:
/s/ Richard Kaufman
-------------------
Richard Kaufman
New York, New York 10022
9-Feb-99
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 manager(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>
REPORT SUMMARY
Number of Other Included Managers: 0
Form 13F Information Table Entry Total:
Form 13F Information Table Value Total: 183,979,845
List of Included Managers:
No. 13F File Number Name
- --------------------------------------------------------------------------------
1. Manchester Capital Corporation
- --------------------------------------------------------------------------------
2.
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FORM 13F 12/31/98
PAGE 1
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVESTMENT DISCRETIO MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(A) (B) (C) (A) (B) (C)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ABN AMRO Holding ADR COMMON 000937102 585,032 26,898 X 1 4,000 22,898
Aflac COMMON 001055102 548,438 12,500 X 1 4,000 8,500
Amli Residential Prop COMMON 001735109 1,755,525 78,900 X 1 9,500 69,400
ADV Tobacco Prods Inc COMMON 00755G101 16,000 16,000 X 1 16,000
Airtouch Communications COMMON 00949T100 3,736,181 51,578 X 1 5,600 45,978
Allied-Signal Inc. COMMON 019512102 312,492 7,052 X 1 7,052
Allstate Corp. COMMON 020002101 1,797,373 46,685 X 1 15,520 31,165
Alltel Corp. COMMON 020039103 362,105 6,054 X 1 740 5,314
America Online Inc Del COMMON 02364J104 496,400 3,200 X 1 3,200
American Express Co. COMMON 025816109 2,596,354 25,330 X 1 1,000 24,330
American Express Co. PREFER 02583Y205 241,734 9,550 X 1 9,550
American Greetings Class A COMMON 026375105 2,234,005 54,405 X 1 8,700 45,705
American Home Products COMMON 026609107 1,289,941 22,881 X 1 22,881
American Int'l Group COMMON 026874107 991,469 10,261 X 1 10,261
AT&T Corp COMMON 030177109 983,913 12,989 X 1 3,000 9,989
Ameritech Corp. COMMON 030954101 573,075 9,043 X 1 9,043
Amoco Corp. COMMON 031905102 371,225 6,200 X 1 6,200
Applied Materials Inc COMMON 038222105 260,394 6,100 X 1 6,100
Asia Tigers Fund, Inc. COMMON 04516T105 621,141 94,650 X 1 10,900 83,750
Avnet Inc. COMMON 053807103 804,650 13,300 X 1 1,600 11,700
Barclays Bank 8% Conv Capi CONVER 06738C836 617,700 23,200 X 1 1,200 22,000
Bear Stearns Cap Tr 7.50% PREFER 07383J209 797,500 31,900 X 1 500 31,400
Bell Atlantic Corp. COMMON 077853109 825,719 15,291 X 1 15,291
Bell South Corp COMMON 079860102 1,055,391 21,161 X 1 21,161
Bestfoods COMMON 08658U101 372,750 7,000 X 1 7,000
Black & Decker Corp. COMMON 091797100 983,897 17,550 X 1 4,100 13,450
Boeing Company COMMON 097023105 1,541,556 47,251 X 1 47,251
Boston Chicken Conv 4.5% 2 CONV C 100578AA1 8,438 150,000 X 1 150,000
Bristol Myers Squibb Co COMMON 110122108 3,648,398 27,265 X 1 27,265
British Petrol ADS COMMON 110889409 225,514 2,485 X 1 2,485
Browning Ferris Industries COMMON 115885105 446,469 15,700 X 1 200 15,500
CBS Corp COMMON 12490K107 621,764 18,949 X 1 18,949
Camden Property Trust COMMON 133131102 1,803,750 69,375 X 1 3,327 66,048
Carnival Corp COMMON 143658102 398,400 8,300 X 1 8,300
CarrAmerica 8.55% Pfd C PREFER 144418407 502,031 22,500 X 1 1,900 20,600
Catellus Development Corp COMMON 14911110 275,029 19,216 X 1 19,216
Cendant Corp COMMON 151313103 235,825 12,211 X 1 12,211
Chase Manhattan Corp New COMMON 16161A108 2,563,236 36,102 X 1 2,600 33,502
Chateau Communities Inc. COMMON 161726104 393,169 13,413 X 1 13,413
Chevron Corp. COMMON 166751107 248,149 2,992 X 1 2,992
Chubb Corp COMMON 171232101 242,813 3,750 X 1 3,750
Cisco Systems Inc COMMON 17275R102 758,093 8,168 X 1 8,168
Citigroup Inc COMMON 172967101 2,067,882 41,618 X 1 41,618
Citigroup Inc Pfd J 8.08% PREFER 172967879 567,000 22,400 X 1 1,200 21,200
Citigroup Capital 7% Pfd PREFER 17306K209 433,913 17,100 X 1 17,100
Clayton Homes COMMON 184190106 551,492 39,927 X 1 750 39,177
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<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Coastal Fin I Tr 8.375% PREFER 190463208 1,865,344 75,750 X 1 6,000 69,750
Comcast Corp. Class A COMMON 200300101 656,166 11,424 X 1 1,325 10,099
Comcast Corp Class A Speci COMMON 200300200 2,257,297 38,463 X 1 9,365 29,098
Computer Associates COMMON 204912109 736,347 17,275 X 1 2,500 14,775
Conseco Financing Trust PREFER 20846F201 939,675 36,850 X 1 5,600 31,250
Conseco 8.70% Pref PREFER 20847D205 233,825 9,400 X 1 1,500 7,900
Corning Inc. COMMON 219327103 1,191,378 26,475 X 1 2,000 24,475
Credit Suisse Gp Spons ADR COMMON 225401108 442,214 11,300 X 1 11,300
Deere & Co. COMMON 244199105 465,181 14,150 X 1 14,150
Diageo Plc New Adr COMMON 25243Q205 249,750 5,400 X 1 5,400
Walt Disney Co. COMMON 254687106 411,284 13,709 X 1 1,200 12,509
Du Pont E I De Nemours & C COMMON 263534109 668,163 12,592 X 1 12,592
Eastman Kodak COMMON 277461109 442,604 6,147 X 1 6,147
Electronic Data Sys Corp N COMMON 285661104 1,473,003 29,350 X 1 4,000 25,350
Electronics for Imaging COMMON 286082102 308,000 7,700 X 1 1,500 6,200
Equitable Cos Inc COMMON 29444G107 893,011 15,430 X 1 4,400 11,030
Equity Office Properties P PREFER 294741608 237,650 9,700 X 1 9,700
Equity Residential Propert COMMON 29476L107 1,739,001 43,138 X 1 7,835 35,303
Equity Residential Propert PREFER 29476L503 1,129,444 43,650 X 1 3,000 40,650
Exxon Corp. COMMON 302290101 649,791 8,886 X 1 8,886
Federal Natl Mtg Assn COMMON 313586109 1,811,150 24,475 X 1 2,400 22,075
Felcor Lodging Pfd B 9% PREFER 31430F408 479,600 21,800 X 1 5,400 16,400
Ford Mtr Co COMMON 345370100 446,377 7,606 X 1 7,606
Fulton Finl Corp Pa COMMON 360271100 498,105 22,138 X 1 22,138
GTE Corp. COMMON 362320103 5,953,285 91,589 X 1 7,688 83,901
Gannett Co. COMMON 364730101 1,193,250 18,500 X 1 4,000 14,500
The GAP Inc. COMMON 364760108 1,109,591 19,770 X 1 19,770
General Electric COMMON 369604103 5,304,427 52,004 X 1 11,200 40,804
General Growth Properties COMMON 370021107 2,052,825 54,200 X 1 2,200 52,000
General Motors Corp COMMON 370442105 737,452 10,305 X 1 594 9,711
Gillette Co COMMON 375766102 1,422,627 29,754 X 1 29,754
Glaxo Plc Spon ADR COMMON 37733W105 372,937 5,366 X 1 400 4,966
Global Marine COMMON 379352404 117,000 13,000 X 1 13,000
HCR Manor Care COMMON 404134108 725,563 24,700 X 1 24,700
Harleysville National Corp COMMON 412850109 211,029 5,411 X 1 5,411
Hartford Capital II Pfd 8. PREFER 416320208 816,400 31,400 X 1 1,900 29,500
Health Care Property Invs COMMON 421915109 605,775 19,700 X 1 1,000 18,700
Hershey Foods Corp. COMMON 427866108 1,090,769 17,540 X 1 4,700 12,840
Hewlett Packard Co. COMMON 428236103 1,844,438 27,000 X 1 800 26,200
Household International In COMMON 441815107 292,314 7,377 X 1 7,377
ICF Kaiser International I COMMON 449244102 16,100 11,200 X 1 11,200
IMS Health, Inc COMMON 449934108 460,169 6,100 X 1 500 5,600
Ikon Office Solutions COMMON 451713101 463,223 54,099 X 1 5,450 48,649
Intel Corp COMMON 458140100 2,152,628 18,156 X 1 200 17,956
IBM COMMON 459200100 328,188 1,780 X 1 1,780
Int'l Paper Capital Tr 7.8 PREFER 460140205 489,347 19,050 X 1 19,050
Interpublic Group Cos COMMON 460690100 957,000 12,000 X 1 12,000
Johnson & Johnson COMMON 478160104 2,614,887 31,176 X 1 162 31,014
Johnson Controls COMMON 478366107 1,268,500 21,500 X 1 2,800 18,700
KLM Royal Dutch Air COMMON 482516101 728,220 24,274 X 1 4,048 20,226
K Mart Corp COMMON 482584109 196,000 12,800 X 1 12,800
Keycorp-New COMMON 493267108 1,699,200 53,100 X 1 5,000 48,100
Keystone Financial COMMON 493482103 6,664,144 180,112 X 1 180,112
Kimberly Clark Corp COMMON 494368103 2,249,488 41,275 X 1 1,850 39,425
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<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
L S Capital Corp COMMON 501936108 410 10,000 X 1 10,000
Eli Lilly & Co COMMON 532457108 696,602 7,838 X 1 7,838
Lockheed Martin Corp COMMON 539830109 239,419 2,825 X 1 2,825
Lucent Technologies COMMON 549463107 987,946 8,986 X 1 600 8,386
MBIA,Inc. COMMON 55262C100 1,511,227 23,050 X 1 800 22,250
MFS Intermediate Income Tr COMMON 55273C107 1,377,998 202,275 X 1 22,000 180,275
Manpower Inc. COMMON 56418H100 334,364 13,275 X 1 1,000 12,275
May Dept Stores COMMON 577778103 353,073 5,848 X 1 600 5,248
McDonald's Corp. COMMON 580135101 460,875 6,000 X 1 6,000
MediaOne Group Inc COMMON 58440J104 385,353 8,199 X 1 8,199
MediaOne 9.04% Pfd PREFER 584458202 530,438 20,700 X 1 4,000 16,700
Meditrust Paired CTF New COMMON 58501T306 321,315 21,421 X 1 3,643 17,778
Mellon Bank Corp COMMON 585509102 2,462,350 35,816 X 1 35,816
Merck & Co COMMON 589331107 861,657 5,842 X 1 5,842
Merrill Lynch & Co. COMMON 590188108 1,161,450 17,400 X 1 17,400
Merrill Lynch 7.28% Pfd PREFER 59021K205 710,700 27,600 X 1 2,000 25,600
Minnesota Mining & Mfg. COMMON 604059105 842,831 11,850 X 1 300 11,550
J P Morgan & Co COMMON 616880100 211,176 2,010 X 1 2,010
Morgan Stanley Dean Witter COMMON 617446448 484,220 6,820 X 1 1,714 5,106
Morgan Stanley Dean Witter COMMON 61745P106 612,500 70,000 X 1 2,600 67,400
Morton International Inc N COMMON 619335102 1,223,775 49,950 X 1 2,900 47,050
Motorola Inc. COMMON 620076109 996,850 16,325 X 1 200 16,125
Nationwide Health COMMON 638620104 461,438 21,400 X 1 3,000 18,400
Nestle Registered ADRS+ COMMON 641069406 1,926,610 17,700 X 1 1,000 16,700
The New Germany Fund Inc. COMMON 644465106 390,493 30,183 X 1 30,183
Newell Corp. COMMON 651192106 911,625 22,100 X 1 22,100
Nokia Corp ADR COMMON 654902204 210,766 1,750 X 1 250 1,500
Occidental Petroleum Corp. COMMON 674599105 275,940 16,352 X 1 900 15,452
Office Max COMMON 67622M108 1,021,650 83,400 X 1 7,500 75,900
Olin Corp COMMON 680665205 318,516 11,250 X 1 3,800 7,450
Omega Financial Corp COMMON 68209210 757,793 25,051 X 1 25,051
PNC Bank Corp. COMMON 693475105 457,218 8,467 X 1 8,467
Pacificorp COMMON 69511410B 347,300 16,489 X 1 16,489
J C Penney Inc. COMMON 708160106 576,563 12,300 X 1 12,300
Pepsico Inc. COMMON 713448108 1,750,690 42,830 X 1 42,830
Pharmacia & UpJohn COMMON 716941109 407,417 7,195 X 1 1,200 5,995
Pfizer Inc COMMON 717081103 1,998,672 15,989 X 1 15,989
Phelps Dodge COMMON 717265102 226,394 4,450 X 1 4,450
Philips Electronics NV Hol COMMON 718337504 893,475 13,200 X 1 2,700 10,500
Pitney Bowes Inc. COMMON 724479100 4,684,690 70,913 X 1 9,300 61,613
Pittston Brink's Group COMMON 725701106 277,313 8,700 X 1 1,000 7,700
Procter & Gamble COMMON 742718109 1,680,515 18,404 X 1 18,404
Prologis Trust 7.92% Pfd D PREFER 743410508 263,488 10,700 X 1 1,000 9,700
Reuters Group Plc S ADR COMMON 76132M102 322,705 5,092 X 1 2,079 3,013
Rhone Poulenc S.A. ADS (E COMMON 762426609 1,454,185 28,939 X 1 4,137 24,802
Rite Aid COMMON 767754104 524,863 10,550 X 1 600 9,950
Ryder System Inc. COMMON 783549108 824,200 31,700 X 1 31,700
SBC Communications Inc. COMMON 78387G103 2,010,885 37,499 X 1 800 36,699
St Joe Corporation COMMON 790161103 222,656 9,500 X 1 4,000 5,500
Schering Plough Company COMMON 806605101 3,725,176 67,424 X 1 13,600 53,824
Schlumberger Ltd COMMON 806857108 658,525 14,200 X 1 14,200
Seagate Technology COMMON 811804103 358,463 11,850 X 1 2,800 9,050
Sears Roebuck & Co. COMMON 812387108 1,250,138 29,415 X 1 5,049 24,366
Shell Trans & Trading PLC COMMON 822703609 502,031 13,500 X 1 13,500
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<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Soverign Bancorp COMMON 845905108 885,082 62,111 X 1 62,111
Sun Bancorp COMMON 866634108 204,296 7,362 X 1 7,362
Sun Microsystems Inc COMMON 866810104 1,203,031 14,050 X 1 2,500 11,550
SunAmerica Inc COMMON 866930100 4,291,962 52,341 X 1 9,597 42,744
Sunstrand Corporation COMMON 867323107 306,082 5,900 X 1 500 5,400
Tele Communications Inc TC COMMON 879240109 1,088,882 19,686 X 1 19,686
Tele Communications Inc TC COMMON 87924V200 2,928,000 48,000 X 1 48,000
Tele Comm Inc Liberty Medi COMMON 87924V507 1,895,610 41,153 X 1 41,153
Tele Comm Inc Liberty Medi COMMON 87924V606 855,000 18,000 X 1 18,000
Tele-Comm TCI Ventures Grp COMMON 87924V887 692,219 29,378 X 1 29,378
Telefonica de Espana SA AD COMMON 87938220 1,563,581 11,550 X 1 400 11,150
Texaco Inc. COMMON 881694103 265,061 5,001 X 1 5,001
Time Warner Inc. COMMON 887315109 339,482 5,470 X 1 800 4,670
Toll Brothers COMMON 889478103 247,059 10,950 X 1 5,200 5,750
Tricon Global Restaurants COMMON 895953107 301,001 6,005 X 1 6,005
Tribune COMMON 896047107 653,400 9,900 X 1 1,000 8,900
Unisource Worldwide Inc COMMON 909208100 193,938 26,750 X 1 3,500 23,250
United Dominion Rlty Tr COMMON 910197102 231,000 22,400 X 1 4,000 18,400
US West Inc COMMON 91273H101 670,674 10,378 X 1 500 9,878
Viacom Inc Cl A COMMON 925524100 386,203 5,250 X 1 5,250
Viacom Inc Sub Deb 8% 7/20 CORP B 925524AC4 47,955 46,000 X 1 46,000
Vornado Realty Trust COMMON 929042109 313,393 9,355 X 1 2,070 7,285
Warner-Lambert Co. COMMON 934488107 518,794 6,900 X 1 6,900
Waste Mgmt Inc Del COMMON 94106L109 490,005 10,510 X 1 2,827 7,683
Western Consortium Inc COMMON 958049108 15 15,000 X 1 15,000
Xerox Corp. COMMON 984121103 1,510,400 12,800 X 1 2,000 10,800
York International Corp. COMMON 986670107 920,322 22,550 X 1 1,250 21,300
Newscorp Overseas Pfd A Lt PREFER G6478B108 1,832,403 73,850 X 1 6,500 67,350
Partner-Re LTD 8% PREFER G6852T113 1,081,600 41,600 X 1 5,200 36,400
Rhone Poulenc 8.125% Pfd S PREFER G75495104 2,480,025 92,280 X 1 3,600 88,680
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AGGREGATE COLUMN TOTALS 183,979,845
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