I REPRESENT THAT I AM AUTHORIZED TO SUBMIT THIS FORM AND
THAT ALL INFORMATION IN THIS FORM AND THE ATTACHMENTS TO IT
IS TRUE, CORRECT AND COMPLETE, AND I UNDERSTAND THAT ALL
REQUIRED ITEMS, STATEMENTS AND SCHEDULES ARE INTEGRAL PARTS
OF THIS FORM AND THAT THE SUBMISSION OF ANY AMENDMENT
REPRESENTS THAT ALL UNAMENDED ITEMS, STATEMENTS AND
SCHEDULES REMAIN TRUE, CORRECT AND COMPLETE AS PREVIOUSLY
SUBMITTED.
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES
EXCHANGE ACT OF 1934.
/s/ John H. Kunkle
August 13, 1999
<TABLE>
NAME OF ISSUER TITLE CUSIP Value Shares/ SH/ PUT/ INVSTMMANAGERS VOTING AUTHORITY
(x$1000)PRN AMT PRN CALL DSCRETN SOLE SHARED NONE
<C> <C> <C> <C> <C> <C>
123456789012345678901234567890123456789012345678901234567890123456789012345678901234567890123456789012345678901234567890
D AMR Corp. COM 001765106 6825 100000 SH SOLE 100000
D Adv. Tech. Materials Inc. COM 00754X105 3124 105000 SH SOLE 105000
D Air Express Int'l COM 009104100 821 32343 SH SOLE 32343
D Alaska Air Lines COM 011659109 5845 140000 SH SOLE 140000
D Allegheny Teledyne Inc. COM 017415100 905 40000 SH SOLE 40000
D American Woodmark Corp COM 030506109 3250 92200 SH SOLE 92200
D Applied Materials COM 038222105 11081 150000 SH SOLE 150000
D Ark Best Corp. COM 040790107 1451 146000 SH SOLE 146000
D BE Aerospace Inc COM 073302101 6671 357000 SH SOLE 357000
D Beazer Homes USA Inc. COM 07556Q105 463 20000 SH SOLE 20000
D Calpine Corp. COM 131347106 9720 180000 SH SOLE 180000
D Chase Manhattan Crp COM 16161A108 2076 24000 SH SOLE 24000
D Citigroup Inc. COM 173034109 8550 180000 SH SOLE 180000
D Coach USA COM 18975L106 4424 105500 SH SOLE 105500
D Commercial Intertech COM 201709102 2923 183400 SH SOLE 183400
D Computer Assoc Int'l COM 204912109 5749 105000 SH SOLE 105000
D Conseco Inc. COM 208464107 10489 344608 SH SOLE 344608
D Crossman Communities COM 22764E109 5231 180000 SH SOLE 180000
D D&K Healthcare COM 232861104 418 17500 SH SOLE 17500
D Dana Corp COM 235811106 691 15000 SH SOLE 15000
D Eclipse Surgical COM 278849104 216 20000 SH SOLE 20000
D Edwards, A. G. COM 281760108 605 18750 SH SOLE 18750
D Fannie Mae COM 313586109 5078 74400 SH SOLE 74400
D Fidelity Nat'l Fin'l COM 316326107 4778 238882 SH SOLE 238882
D Ford COM 345370100 6321 112000 SH SOLE 112000
D Frontier Insurance COM 359081106 995 64737 SH SOLE 64737
D Graco Inc. COM 384109104 3109 105825 SH SOLE 105825
D Griffon Corp. COM 398433102 945 121000 SH SOLE 121000
D Idex Corp COM 45167R104 1356 41250 SH SOLE 41250
D Intel Corp COM 458140100 5236 88000 SH SOLE 88000
D JLG Industries Inc. COM 466210101 2610 128100 SH SOLE 128100
D Lockheed Martin COM 539830109 1043 28000 SH SOLE 28000
D Loews Corp. COM 540424108 791 10000 SH SOLE 10000
D Long Beach Financial Corp. COM 542446109 1998 136000 SH SOLE 136000
D Mellon Bank COM 585509102 5093 140000 SH SOLE 140000
D Merrill Lynch COM 590188108 8109 102000 SH SOLE 102000
D Monaco Coach COM 60886R103 1269 30000 SH SOLE 30000
D Morgan Stanley Dean Witter DiscCOM 617446448 8364 81500 SH SOLE 81500
D NVR Inc. COM 62944T105 2714 52000 SH SOLE 52000
D National City Corp. COM 635405103 1104 16852 SH SOLE 16852
D National RV Holdings COM 637277104 4959 204500 SH SOLE 204500
D Omni Energy Services COM 68210T109 693 198000 SH SOLE 198000
D Orthodontic Centers AM COM 68750P103 848 60000 SH SOLE 60000
D Owens Corning Co COM 69073F103 3438 100000 SH SOLE 100000
D Philip Morris COM 718154107 3427 85280 SH SOLE 85280
D Piercing Pagoda Inc COM 720773100 126 10000 SH SOLE 10000
D RTI International Metals Inc. COM 74961H203 2632 179200 SH SOLE 179200
D Reliance Group Holdings COM 759464100 1729 232500 SH SOLE 232500
D SCIOS Inc COM 808905103 455 140000 SH SOLE 140000
D Southdown Inc. COM 841297104 3855 60000 SH SOLE 60000
D Southwest SEC Inc. COM 845224104 14286 199635 SH SOLE 199635
D Stanley Furniture COM 854305208 6874 305500 SH SOLE 305500
D Superior Industries COM 868168105 1452 53180 SH SOLE 53180
D Texas Industries Inc. COM 882491103 1837 47400 SH SOLE 47400
D Winnebago Inds. Inc. COM 974637100 900 40000 SH SOLE 40000
D Winsloew Furniture COM 975377102 3685 109600 SH SOLE 109600
S GRAND TOTAL 56 DATA RECOR 203636
</TABLE>
