UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year 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: BBT Fund, L.P.
Address: 201 Main Street, Suite 3200
Fort Worth, Texas 76102
Form 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 and 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 Report Manager:
Name: W.R. Cotham
Title: Vice President of General Partner of General Partner
Phone: 817/390-8400
Signature, Place, and Date of Signing:
/s/ W.R. Cotham Fort Worth, Texas February 11, 2000
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934.
<PAGE>
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 4
Form 13F Information Table Value Total: $227,849 (thousands)
List of Other Included Managers:
NONE
<PAGE>
<TABLE>
FORM 13F INFORMATION TABLE
<CAPTION>
TITLE VALUE SHARES SH/ PUT INVSTMNT OTHR VOTING AUTHORITY
OF / /
NAME OF ISSUER CLASS CUSIP (X$10 PRN PRN CLL DISCRETN MGRS SOLE SHRD NONE
00) AMT
<S> <C>
AGL RES INC COM 001204106 2771 163000 SH Sole 163000
ASM LITHOGRAPHY 00207EAB6 4800 4000 PRN Sole 4000
HOLDINGS
ABERCROMBIE & CL A 002896207 1601 60000 SH Sole 60000
FITCH CO
ADVANCED ENERGY SUB 007973AA8 6662 5640 PRN Sole 5640
INDS NT
CV5
AFFYMETRIX INC SB NT 00826TAA6 7531 5000 PRN Sole 5000
CV 1
AIR EXPRESS INTL COM 009104100 1848 57200 SH Sole 57200
CORP
ALLEGHENY ENERGY COM 017361106 4714 17500 SH Sole 175000
INC
ALPHARMA INC SR SB 020813AC5 1637 1500 PRN Sole 1500
CV 1
ALPHARMA INC SR SB 020813AD3 3819 3500 PRN Sole 3500
NT C
AMERICAN HOME COM 026609107 2347 59500 SH Sole 59500
PRODS CORP
AMERICAN HOME OPT 0266099PJ 2997 76000 PRN PUT
PRODS CORP
AMERICAN TOWER NT CV 029912AA0 3513 2500 PRN Sole 2500
CORP 144A
AMGEN INC OPT 031162PU 6006 100000 PRN PUT
ANTEC CORP SUB 03664PAB1 1615 1000 PRN Sole 1000
NT CV
AT HOME CORP SB NT 045919AD9 1908 2000 PRN Sole 2000
CV 1
ATMOS ENERGY CORP COM 049560105 2555 125000 SH Sole 125000
AVISTA CORP RECON 05379B503 8278 542800 PRN Sole 542800
S L 1
BP AMOCO PLC - OPT 0556220DK 4864 82000 PRN CAL
SPONSORED ADR L
BP AMOCO PLC - OPT 055622OPK 4864 82000 PRN PUT
SPONSORED ADR
BERINGER WINE CL B 084102102 638 16000 SH Sole 16000
ESTATES HOLDINGS
BOISE CASCADE COM 097403109 1013 67500 SH Sole 67500
OFFICE PRODS
C-CUBE COM 125015107 2801 45000 SH Sole 45000
MICROSYSTEMS INC
CH ENERGY GROUP COM 12541M102 3300 100000 SH Sole 100000
INC
CKE RESTAURANTS SB NT 12561EAB1 4987 9300 PRN Sole 9300
INC CV 4
CLECO CORP NEW COM 12561W105 6413 200000 SH Sole 200000
CMP GROUP INC COM 125887109 8054 292200 SH Sole 292200
CMS ENERGY CORP COM 125896100 8418 269900 SH Sole 269900
CNET INC OPT 125945OMJ 2270 40000 PRN PUT
CNET INC COM 125945105 301 5300 SH Sole 5300
CNET INC OPT 1259459MF 2270 40000 PRN PUT
CSK AUTO CORP COM 125965103 271 15500 SH Sole 15500
CVS CORP COM 126650100 2995 75000 SH Sole 75000
CADILLAC FAIRVIEW COM 126929207 3458 150000 SH Sole 150000
CORP
CHECKFREE HOLDGS SUB 162816AA0 3170 2000 PRN Sole 2000
CORP NT CV
CINERGY CORP COM 172474108 9636 399400 SH Sole 399400
CLARIFY INC COM 180492100 6817 54100 SH Sole 54100
CLEAR CHANNEL 184502AE2 3075 3000 PRN Sole 3000
COMMUNICATIONS
COASTAL CORP COM 190441105 2658 75000 SH Sole 75000
COLUMBIA ENERGY COM 197648108 5598 88500 SH Sole 88500
GROUP
COMCAST OPT 20099W9DI 2528 50000 PRN CAL
CORPORATION L
COMCAST OPT 20099W9MW 2023 40000 PRN PUT
CORPORATION
COMCAST OPT 20099W9NK 2528 50000 PRN PUT
CORPORATION
CONECTIV INC COM 206829103 14397 856300 SH Sole 856300
CONSECO INC OPT 208464OND 760 42500 PRN PUT
CONSOLIDATED NAT COM 209615103 11747 180900 SH Sole 180900
GAS CO
CONSTELLATION COM 210371100 6893 237700 SH Sole 237700
ENERGY CORP
DII GROUP INC COM 232949107 2349 33100 SH Sole 33100
DPL INC COM 233293109 2900 167500 SH Sole 167500
DQE INC COM 23329J104 5194 150000 SH Sole 150000
DOLLAR GEN CORP OPT 2566699NX 341 15000 PRN PUT
DOW CHEM CO OPT 2605439AA 5345 40000 PRN PUT
E TRADE GROUP INC OPT 2692469MH 1568 60000 PRN PUT
EASTERN UTILS COM 277173100 4547 150000 SH Sole 150000
ASSOC
ECHOSTAR 278762AB5 4930 4000 PRN Sole 4000
COMMUNICATIONS
CORP
EDISON INTL COM 281020107 5238 200000 SH Sole 200000
EL PASO ELEC CO COM 283677854 6739 686800 SH Sole 686800
NEW
EL PASO ENERGY COM 283905107 3299 85000 SH Sole 85000
CORP DEL
ELAN PLC ADR 284131208 443 15000 PRN Sole 15000
ENRON CORP COM 293561106 675 15200 SH Sole 15200
ENRON CORP OPT 2935619NH 3106 70000 PRN PUT
EQUITABLE RES INC COM 294549100 1669 50000 SH Sole 50000
FPL GROUP INC COM 302571104 35068 819100 SH Sole 819100
FAMILY DLR STORES COM 307000109 897 55000 SH Sole 55000
INC
FEDERAL HOME LN OPT 3134009DK 2353 50000 PRN CAL
MTG CORP L
FIRST SEC CORP COM 336294103 1277 50000 SH Sole 50000
DEL
FRIEDE GOLDMAN SR SB 358430AA4 6586 10250 PRN Sole 10250
HALTER INC NTCV
GPU INC COM 36225X100 36907 123280 SH Sole 1232800
0
GTE CORP COM 362320103 5490 77800 SH Sole 77800
GENERAL INSTR COM 370120107 19023 223800 SH Sole 223800
CORP DEL
GENESCO INC SUB 371532AL6 2528 3000 PRN Sole 3000
NT CV
GENESYS COM 371931106 5486 101600 SH Sole 101600
TELECOMMUNICATION
LABS
GETTY IMAGES INC SB NT 374276AC7 4513 2500 PRN Sole 2500
CV 4
HEALTHSOUTH CORP COM 421924101 476 88500 SH Sole 88500
HEALTHSOUTH CORP SB DB 421924AF8 5265 6750 PRN Sole 6750
CV 3
HOME DEPOT INC OPT 4370769ML 1508 22000 PRN PUT
INTEL CORP OPT 4581400MN 8231 100000 PRN PUT
INTEL CORP COM 458140100 313 3800 SH Sole 3800
INTERIM SVCS INC SUB 45868PAA8 7622 8600 PRN Sole 8600
NT CV
IPALCO COM 462613100 8531 500000 SH Sole 500000
ENTERPRISES INC
I2 TECHNOLOGIES SUBNT 465754AD1 4552 3150 PRN 3150
INC CV 14
JONES INTERCABLE CL A 480206200 8470 122200 SH Sole 122200
INC
KANSAS CITY PWR & COM 485134100 5516 250000 SH Sole 250000
LT CO
LG&E ENERGY CORP COM 501917108 1482 85000 SH Sole 85000
LACLEDE GAS CO COM 505588103 2163 100000 SH Sole 100000
LAMAR ADVERTISING NT CV 512815AF8 4399 3000 PRN Sole 3000
CO 5
LATTICE SUB 518415AA2 3353 2550 PRN Sole 2550
SEMICONDUCTOR NT CV
CORP
LENNAR CORP COM 526057104 1203 74000 SH Sole 74000
LENNAR CORP SR DB 526057AA2 5299 13500 PRN Sole 13500
CV Z
LIBERTY DIGITAL CL A 530436104 3713 50000 SH Sole 50000
INC
LIBERTY DIGITAL OPT 5304369QG 3713 50000 PRN PUT
INC
LINENS N THINGS COM 535679104 2009 67800 SH Sole 67800
INC
LOWES COS INC COM 548661107 1930 32300 SH Sole 32300
MADISON GAS & COM 557497104 2013 100000 SH Sole 100000
ELEC CO
MARK IV 570387AR1 4056 5000 PRN Sole 5000
INDUSTRIES INC
ACXIOM CORP 577777AA3 3945 3000 PRN Sole 3000
MEDIAONE GROUP COM 5844OJ104 17360 226000 SH Sole 226000
INC
MEDTRONIC INC OPT 585055ONU 2186 60000 PRN PUT
MEDTRONIC INC COM 585055106 1038 28500 SH Sole 28500
MINNESOTA PWR INC COM 604110106 7976 470900 SH Sole 470900
NABI INC SUB 628716AB8 5513 7400 PRN Sole 7400
NT CV
NUI CORP COM 629430109 2635 99900 SH Sole 99900
NATIONAL FUEL GAS COM 636180101 6975 150000 SH Sole 150000
CO N J
NEW JERSEY RES COM 646025106 1953 50000 SH Sole 50000
NIAGARA MOHAWK COM 653520106 2788 200000 SH Sole 200000
HOLDGS
INC
NICOR INC COM 654086107 6565 202000 SH Sole 202000
NISOURCE INC COM 65473P105 3934 220100 SH Sole 220100
NORTHEAST UTILS COM 664397106 8225 400000 SH Sole 400000
NORTHWEST NAT GAS COM 667655104 3304 150600 SH Sole 150600
CO
NSTAR COM 67019E107 6075 150000 SH Sole 150000
OGDEN CORP COM 676346109 609 51000 SH Sole 51000
OLSTEN CORP COM 681385100 1499 132500 SH Sole 132500
P-COM INC SBNT 693262AC1 2840 4000 PRN Sole 4000
CV 4
PECO ENERGY CO COM 693304107 24105 780000 SH Sole 780000
PIMCO ADVISORS UT 69338P102 377 10000 PRN Sole 10000
HLDGS L P LTD
PAR
PEOPLES ENERGY COM 711030106 67000 200000 SH Sole 200000
CORP
PERSONNEL GROUP SB NT 71538AE9 810 1000 PRN Sole 1000
AMER INC CV 5
PINNACLE WEST CAP COM 723484101 7488 245000 SH Sole 245000
CORP
PLAYERS INTL INC COM 727903106 561 68200 SH Sole 68200
PRIDE INTL INC SB DB 741932AB3 1700 5000 PRN Sole 5000
CV Z
PUBLIC SVC CO N COM 744499104 7313 450000 SH Sole 450000
MEX
PUBLIC SVC CO N C COM 744516105 4847 150000 SH Sole 150000
INC
QWEST OPT 7491219AI 2150 50000 PRN CAL
COMMUNICATIONS L
INTL INC
QWEST OPT 74913B9AJ 1290 30000 PRN CAL
COMMUNICATIONS L
INTL INC
RSA SEC INC OPT 749719OMD 3100 40000 PRN PUT
READ-RITE CORP SUB 755246AA3 6290 17000 PRN Sole 17000
NT CV
RELIANT ENERGY COM 75952J108 7434 325000 SH Sole 325000
INC
REPUBLIC N Y CORP COM 760719104 4680 65000 SH Sole 65000
RES-CARE INC SR NT 760943AC4 10485 12945 PRN Sole 12945
CONV
SALTON INC COM 795757103 836 25000 SH Sole 25000
SCANA CORP COM 805898103 6047 225000 SH Sole 225000
SCHWAB CHARLES OPT 8085130AH 1919 50000 PRN CAL
CORP NEW L
SCHWAB CHARLES OPT 8085130MG 959 25000 PRN PUT
CORP NEW
SCHWAB CHARLES OPT 8085130MH 1919 50000 PRN PUT
CORP NEW
SCHWAB CHARLES COM 808513105 576 15000 SH Sole 15000
CORP NEW
SIERRA PAC RES COM 826428104 6059 350000 SH Sole 350000
NEW
SIGCORP INC COM 826912107 5187 228000 SH Sole 228000
SOUTH JERSEY INDS COM 838518108 2892 101700 SH Sole 101700
INC
SPORTS AUTH INC SB NT 849176AC6 6990 11848 PRN Sole 11848
CV 5
SPRINT CORP COM 852061100 1663 24700 SH Sole 24700
FON
GR
STANDARD MTR SB DB 853666AB1 2796 3500 PRN Sole 3500
PRODS INC CV 6
SUNBEAM CORP SRSDC 867071AAO 4575 30000 PRN Sole 30000
V ZRO
SUNRISE ASSISTED SIB 86768KACO 3110 4000 PRN Sole 4000
LIVING INC MT CV
TJ INTL INC COM 872534102 231 5500 SH Sole 5500
TELEBANC COM 87925R109 6315 242900 SH Sole 242900
FINANCIAL CORP
UGI CORP NEW COM 902681105 3427 167700 SH Sole 167700
UNICOM CORP COM 904911104 9725 290300 SH Sole 290300
UNION CARBIDE COM 905581104 4145 62100 SH Sole 62100
CORP
UNITED ILLUM CO COM 910637107 1870 36400 SH Sole 36400
US WEST INC NEW COM 91273H101 13586 188700 SH Sole 188700
US WEST, INC. OPT 9128899DP 3600 50000 PRN CAL
L
US WEST, INC. OPT 9128899PL 3600 50000 PRN PUT
UTILICORP UTD INC COM 918005109 4047 208200 SH Sole 208200
VIASOFT INC COM 92552U102 213 37400 SH Sole 37400
WICOR INC COM 929253102 3648 125000 SH Sole 125000
WASHINGTON GAS LT COM 938837101 6894 250700 SH Sole 250700
CO
WELLS FARGO & CO OPT 949746ODJ 2022 50000 PRN CAL
NEW L
WESTERN DIGITAL COM 958102105 807 192700 SH Sole 192700
CORP
WESTERN DIGITAL SB DB 958102AH8 358 2350 PRN Sole 2350
CORP CV Z
WHOLE FOODS MKT SB DB 966837ACO 8969 25000 PRN Sole 25000
INC CV Z
WILLIAMS COS INC COM 969457100 1528 50000 SH Sole 50000
DEL
GLOBAL CROSSING OPT G3921AOAE 1000 20000 PRN CAL
LTD L
GLOBAL CROSSING OPT G3921AOAF 1500 30000 PRN CAL
LTD L
ROAYL CARIBBEAN COM V7780T103 863 17500 SH Sole 17500
CRUSES LTD
</TABLE>
