[TEXT] UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Quarter Ended: 12/31/99
Check here if Amendment [ ]; Amendment Number: ______
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Invesmtnet Manager Filing this Report:
Name: McCullough, Andrews & Cappiello, Inc.
Address: 101 California Street
San Francisco, CA 94111
Form 13F File Number: 28-1101
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: Robert F. McCullough
Title: Chairman
Phone: 415-956-8700
Signature, Place, and Date of Signing:
/s/ Robert F. McCullough San Francisco, CA 2/11/2000
[Signature] [City, State] [Date]
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).)
List of Other Managers Reporting for this Manager: NONE
<PAGE>
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 170
Form 13F Information Table Value Total: $ 323,989
(thousands)
List of Other Included Managers: NONE
<PAGE>
<TABLE> <C> <C>
NAME OF ISSUER TITLE OF CLASS CUSIP VALUE(K) SH/P AMT S/P P/C INV DSC MANAGERS SOLE SHARED NONE
AT&T CORP COMMON 001957109 11860 233400 SH SOLE 233400 0 0
AEROFLEX INC COMMON 007768104 244 23500 SH SOLE 23500 0 0
AEGON N V ORD AMER REG 007924103 204 2136 SH SOLE 2136 0 0
ALARIS MED INC COMMON 011637105 50 26500 SH SOLE 26500 0 0
ALLEGHENY ENERGY INC COMMON 017361106 302 11200 SH SOLE 11200 0 0
ALLIANT CORP COMMON 018802108 358 13000 SH SOLE 13000 0 0
ALLTEL CORP COMMON 020039103 901 10900 SH SOLE 10900 0 0
AMERICAN EXPRESS CO COMMON 025816109 12677 76250 SH SOLE 76250 0 0
AMERICAN RETIREMENT CORP SDCV 5.750 10/0 028913AA9 501 700000 PRN SOLE 700000 0 0
AMGEN INC COMMON 031162100 348 5800 SH SOLE 5800 0 0
APPLIX INC COMMON 038316105 325 18000 SH SOLE 18000 0 0
ASSOCIATES FIRST CAP COR CL A 046008108 3378 123124 SH SOLE 123124 0 0
AVIGEN INC COMMON 053690103 558 18000 SH SOLE 18000 0 0
AVISTA CORP RECONS L 1/10S 05379B503 618 40500 SH SOLE 40500 0 0
BJS WHOLESALE CLUB INC COMMON 05548J106 949 26000 SH SOLE 26000 0 0
BP AMOCO P L C DEPOSITORY RECEI 055622104 1800 30354 SH SOLE 30354 0 0
BANK OF AMERICA CORP COMMON 060505104 388 7726 SH SOLE 7726 0 0
BATTLE MTN GOLD CO COMMON 071593107 72 35000 SH SOLE 35000 0 0
BEBE STORES INC COMMON 075571109 270 10000 SH SOLE 10000 0 0
BELL ATLANTIC CORP COMMON 077853109 850 13800 SH SOLE 13800 0 0
BERKSHIRE HATHAWAY DEL CL A 084670108 281 5 SH SOLE 5 0 0
BESTFOODS COMMON 08658U101 5382 102400 SH SOLE 102400 0 0
BLOCK H & R INC COMMON 093671105 337 7700 SH SOLE 7700 0 0
BOISE CASCADE CORP COMMON 097383103 3718 91800 SH SOLE 91800 0 0
BOLT TECHNOLOGY CORP COMMON 097698104 310 80000 SH SOLE 80000 0 0
BRAUNS FASHIONS CORP COMMON 105658108 966 46000 SH SOLE 46000 0 0
BRISTOL MYERS SQUIBB CO COMMON 110122108 1029 16030 SH SOLE 16030 0 0
CMS ENERGY CORP COMMON 125896100 421 13500 SH SOLE 13500 0 0
CPS SYS INC COMMON 126162106 6 24000 SH SOLE 24000 0 0
CAPSTEAD MTG CORP COMMON 14067E100 84 20000 SH SOLE 20000 0 0
CHASE MANHATTAN CORP NEW COMMON 16161A108 10617 136665 SH SOLE 136665 0 0
CHICAGO TITLE CORP COMMON 168228104 2266 49000 SH SOLE 49000 0 0
CHILDRENS PL RETAIL STOR COMMON 168905107 224 13600 SH SOLE 13600 0 0
CITIGROUP INC COMMON 172967101 710 12750 SH SOLE 12750 0 0
COCA COLA CO COMMON 191216100 792 13600 SH SOLE 13600 0 0
COMPAQ COMPUTER CORP COMMON 204493100 480 17724 SH SOLE 17724 0 0
COMTECH TELECOMMUNICATIO COM NEW 205826209 150 10200 SH SOLE 10200 0 0
CONSTELLATION ENERGY COR COMMON 210371100 399 13750 SH SOLE 13750 0 0
CORSAIR COMMUNICATIONS I COMMON 220406102 154 19000 SH SOLE 19000 0 0
CROWN AMERN RLTY TR SH BEN INT 228186102 432 78500 SH SOLE 78500 0 0
CROWN RES CORP COMMON 228569109 19 10000 SH SOLE 10000 0 0
DEAN FOODS CO COMMON 242361103 4762 119800 SH SOLE 119800 0 0
DOLLAR GEN CORP COMMON 256669102 512 22500 SH SOLE 22500 0 0
DOMINION RES BLACK WARRI UNITS BEN INT 25746Q108 429 39000 SH SOLE 39000 0 0
DOT HILL SYS CORP COMMON 25848T109 158 32000 SH SOLE 32000 0 0
DUKE ENERGY CORP COMMON 264399106 8220 163987 SH SOLE 163987 0 0
E4L INC COMMON 268452109 1290 515952 SH SOLE 515952 0 0
EDISON INTL COMMON 281020107 406 15500 SH SOLE 15500 0 0
ELECTRONICS BOUTIQUE HLD COMMON 286045109 180 10000 SH SOLE 10000 0 0
EMERSON ELEC CO COMMON 291011104 6647 115844 SH SOLE 115844 0 0
ENDOCARE INC COMMON 29264P104 84 10000 SH SOLE 10000 0 0
ENRON CORP COMMON 293561106 9141 206000 SH SOLE 206000 0 0
ENTRADE INC COMMON 29382L100 245 6000 SH SOLE 6000 0 0
ERICSSON L M TEL CO DEPOSITORY RECEI 294821400 371 5648 SH SOLE 5648 0 0
EXCEL TECHNOLOGY INC COMMON 30067T103 179 10000 SH SOLE 10000 0 0
EXXON MOBIL CORP COMMON 30231G102 9563 118699 SH SOLE 118699 0 0
FEDERATED DEPT STORES IN COMMON 31410H101 1744 34500 SH SOLE 34500 0 0
FIRST DATA CORP COMMON 319963104 2392 48500 SH SOLE 48500 0 0
FLEETBOSTON FINL CORP COMMON 339030108 470 13500 SH SOLE 13500 0 0
FORD MTR CO DEL COMMON 345370100 10158 190536 SH SOLE 190536 0 0
FRANKLIN RES INC COMMON 354613101 16452 517137 SH SOLE 517137 0 0
GTE CORP COMMON 362320103 917 13000 SH SOLE 13000 0 0
GANTOS INC NEW COM NEW 36473U204 21 40334 SH SOLE 40334 0 0
GENERAL ELEC CO COMMON 369604103 1548 10000 SH SOLE 10000 0 0
GENERAL MTRS CORP CL H CL H NEW 370442832 6566 68400 SH SOLE 68400 0 0
GOLDEN ST BANCORP INC COMMON 381197102 1285 74500 SH SOLE 74500 0 0
GREENERY REHABILITATION SD CV 8.750 4/0 394797AB0 596 840000 PRN SOLE 840000 0 0
GREY WOLF INC COMMON 397888108 227 79000 SH SOLE 79000 0 0
HALLIBURTON CO COMMON 406216101 415 10300 SH SOLE 10300 0 0
HAWAIIAN ELEC INDUSTRIES COMMON 419870100 260 9000 SH SOLE 9000 0 0
HIBERNIA CORP CL A 428656102 3505 329900 SH SOLE 329900 0 0
HOMESTAKE MNG CO COMMON 437614100 109 14000 SH SOLE 14000 0 0
HONEYWELL INTL INC COMMON 438516106 462 8000 SH SOLE 8000 0 0
HOUGHTON MIFFLIN CO COMMON 441560109 713 16900 SH SOLE 16900 0 0
IDACORP INC COMMON 451107106 4912 183200 SH SOLE 183200 0 0
INTEL CORP COMMON 458140100 3696 44900 SH SOLE 44900 0 0
INTERNATIONAL BUSINESS M COMMON 459200101 7179 66550 SH SOLE 66550 0 0
INTERVOICE-BRITE INC COMMON 461142101 302 13000 SH SOLE 13000 0 0
JOHNSON & JOHNSON COMMON 478160104 1474 15804 SH SOLE 15804 0 0
K V PHARMACEUTICAL CO-A CL A 482740206 3093 141000 SH SOLE 141000 0 0
KEYSPAN CORP COMMON 49337W100 311 13400 SH SOLE 13400 0 0
KMART FING I PFD TRCV 7.75% 498778208 263 6000 SH SOLE 6000 0 0
KNIGHT/TRIMARK GROUP INC CL A 499067106 230 5000 SH SOLE 5000 0 0
KROGER CO COMMON 501044101 227 12000 SH SOLE 12000 0 0
LASERSIGHT INC COMMON 517924106 200 20000 SH SOLE 20000 0 0
LONGVIEW FIBRE CO COMMON 543213102 3185 223524 SH SOLE 223524 0 0
LUCENT TECHNOLOGIES INC COMMON 549463107 1181 15751 SH SOLE 15751 0 0
MADDEN STEVEN LTD COMMON 556269108 458 24000 SH SOLE 24000 0 0
MARSH & MCLENNAN COS INC COMMON 571748102 12043 125859 SH SOLE 125859 0 0
MASCO CORP COMMON 574599106 6219 245086 SH SOLE 245086 0 0
MCDONALDS CORP COMMON 580135101 504 12500 SH SOLE 12500 0 0
MERCK & CO INC COMMON 589331107 1891 28140 SH SOLE 28140 0 0
MIAMI COMPUTER SUPPLY CO COMMON 593261100 260 7000 SH SOLE 7000 0 0
MICROSOFT CORP COMMON 594918104 677 5800 SH SOLE 5800 0 0
NATIONAL DATA CORP COMMON 635621105 570 16800 SH SOLE 16800 0 0
NAVIGANT CONSULTING INC COMMON 63935N107 1363 125300 SH SOLE 125300 0 0
NETSPEAK CORP COMMON 64115D109 213 10000 SH SOLE 10000 0 0
NEW CENTURY ENERGIES INC COMMON 64352U103 289 9500 SH SOLE 9500 0 0
NEW ENGLAND ELEC SYS COMMON 644001109 647 12500 SH SOLE 12500 0 0
NEWELL RUBBERMAID INC COMMON 651229106 206 7100 SH SOLE 7100 0 0
NOBLE DRILLING CORP COMMON 655042109 799 24400 SH SOLE 24400 0 0
OAK INDS INC NOTE 4.875 3/0 671400AJ8 276 100000 PRN SOLE 100000 0 0
OFFICE DEPOT INC COMMON 676220106 141 12800 SH SOLE 12800 0 0
PAUL HARRIS STORES INC COM NEW 703555201 454 165000 SH SOLE 165000 0 0
PENNEY J C INC COMMON 708160106 4521 226750 SH SOLE 226750 0 0
PEPSICO INC COMMON 713448108 5302 150400 SH SOLE 150400 0 0
PFIZER INC COMMON 717081103 482 14865 SH SOLE 14865 0 0
PHILIP MORRIS COS INC COMMON 718154107 1078 46881 SH SOLE 46881 0 0
PHILLIPS PETE CO COMMON 718507106 5602 119200 SH SOLE 119200 0 0
PIER 1 IMPORTS INC COMMON 720279108 414 65000 SH SOLE 65000 0 0
POLYMEDICA CORP COMMON 731738100 208 9000 SH SOLE 9000 0 0
POTOMAC ELEC PWR CO COMMON 737679100 333 14500 SH SOLE 14500 0 0
POWER-ONE INC COMMON 739308104 458 10000 SH SOLE 10000 0 0
PRIMUS TELECOMMUNICATION COMMON 741929103 312 8150 SH SOLE 8150 0 0
QUESTAR CORP COMMON 748356102 200 13300 SH SOLE 13300 0 0
RELIANT ENERGY INC COMMON 75952J108 132 5750 SH SOLE 5750 0 0
REMEC INC COMMON 759543101 332 13000 SH SOLE 13000 0 0
REPTRON ELECTRONICS INC SDCV 6.750 08/0 76026WAA7 559 1065000 PRN SOLE 1065000 0 0
ROYAL DUTCH PETE CO DEPOSITORY RECEI 780257804 291 4800 SH SOLE 4800 0 0
SBC COMMUNICATIONS INC COMMON 78387G103 7855 161124 SH SOLE 161124 0 0
SA TELECOMMUNICATIONS IN NOTE 10.000 8/1 783942AA3 37 525000 PRN SOLE 525000 0 0
SLM HLDG CORP COMMON 78442A109 1363 32250 SH SOLE 32250 0 0
SOS STAFFING SVCS INC COMMON 78462X104 166 38000 SH SOLE 38000 0 0
SARA LEE CORP COMMON 803111103 5246 237800 SH SOLE 237800 0 0
SCHLUMBERGER LTD COMMON 806857108 4580 81600 SH SOLE 81600 0 0
SCHWAB CHARLES CORP NEW COMMON 808513105 689 18000 SH SOLE 18000 0 0
SCORE BRD INC COM NEW 809173206 5 123750 SH SOLE 123750 0 0
SERVICE MERCHANDISE INC COMMON 817587108 11 125000 SH SOLE 125000 0 0
SHARED MED SYS CORP COMMON 819486101 11517 226100 SH SOLE 226100 0 0
SHERWIN WILLIAMS CO COMMON 824348106 3801 181000 SH SOLE 181000 0 0
SOUTHERN CO COMMON 842587107 4928 209700 SH SOLE 209700 0 0
SPRINT CORP CV DECS EXCH 200 852061407 2487 33500 SH SOLE 33500 0 0
STARTEK INC COMMON 85569C107 326 9000 SH SOLE 9000 0 0
STONE ENERGY CORP COMMON 861642106 143 4000 SH SOLE 4000 0 0
SUN MICROSYSTEMS INC COMMON 866810104 620 8000 SH SOLE 8000 0 0
SUNGARD DATA SYS INC COMMON 867363103 238 10000 SH SOLE 10000 0 0
SUPERVALU INC COMMON 868536103 2752 137600 SH SOLE 137600 0 0
TNP ENTERPRISES INC COMMON 872594106 392 9500 SH SOLE 9500 0 0
TAKE-TWO INTERACTIVE SOF COMMON 874054109 175 13500 SH SOLE 13500 0 0
TEXAS UTILS CO COMMON 882848104 206 5800 SH SOLE 5800 0 0
TIDEWATER INC COMMON 886423102 252 7000 SH SOLE 7000 0 0
TOPPS INC COMMON 890786106 166 16000 SH SOLE 16000 0 0
TROY GROUP INC COMMON 89733N106 152 10100 SH SOLE 10100 0 0
UNION PAC RES GROUP INC COMMON 907834105 1934 151693 SH SOLE 151693 0 0
UNITED HEALTHCARE CORP COMMON 910581107 1009 19000 SH SOLE 19000 0 0
UNITED SHIPPING & TECHNO COMMON 911498103 284 35500 SH SOLE 35500 0 0
VALERO ENERGY CORP NEW COMMON 91913Y100 311 15642 SH SOLE 15642 0 0
VARCO INTL INC COMMON 922126107 846 83000 SH SOLE 83000 0 0
VARIAN INC COMMON 922206107 2480 110200 SH SOLE 110200 0 0
VARIAN SEMICONDUCTOR EQU COMMON 922207105 5084 149543 SH SOLE 149543 0 0
VARIAN MED SYS INC COMMON 92220P105 5641 189200 SH SOLE 189200 0 0
VION PHARMACEUTICALS INC COMMON 927624106 1041 170000 SH SOLE 170000 0 0
VODAFONE AIRTOUCH PLC DEPOSITORY RECEI 92857T107 1015 20500 SH SOLE 20500 0 0
WALGREEN CO COMMON 931422109 9647 329800 SH SOLE 329800 0 0
WASHINGTON GAS LT CO COMMON 938837101 358 13000 SH SOLE 13000 0 0
WELLPOINT HEALTH NETWORK COMMON 94973H108 429 6500 SH SOLE 6500 0 0
WEYERHAEUSER CO COMMON 962166104 1257 17500 SH SOLE 17500 0 0
WILLAMETTE INDS INC COMMON 969133107 418 9000 SH SOLE 9000 0 0
WORKFLOW MGMT INC COMMON 98137N109 229 8000 SH SOLE 8000 0 0
WORLD ACCESS 144A CVT 4.5% 10/1/02 98141AAA9 1013 1250000 PRN SOLE 1250000 0 0
WORLDWIDE WEB NETWORX CO COMMON 981604101 169 30000 SH SOLE 30000 0 0
WORLDCORP INC COMMON 981904105 2 86300 SH SOLE 86300 0 0
WORLDCORP INC SDCV 7.000 5/1 981904AB1 93 580000 PRN SOLE 580000 0 0
ZONAGEN INC COMMON 98975L108 53 12000 SH SOLE 12000 0 0
ZOMAX INC MINN COMMON 989929104 1403 31000 SH SOLE 31000 0 0
ARAMEX INTL LTD ORD G04450105 211 23000 SH SOLE 23000 0 0
GLOBAL CROSSING LTD COMMON G3921A100 11108 222150 SH SOLE 222150 0 0
HELEN OF TROY CORP LTD COMMON G4388N106 83 11500 SH SOLE 11500 0 0
TRANSOCEAN SEDCO FOREX COM G90078109 532 15794 SH SOLE 15794 0 0
GILAT COMMUNICATIONS LTD ORD M50876107 301 12500 SH SOLE 12500 0 0
</TABLE>
