UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Quarter Ended: 3/31/00
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: 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 5/12/00
[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: 176
Form 13F Information Table Value Total: $ 338,083
(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 12341 219150 SH SOLE 219150 0 0
ACTEL CORP COMMON 004934105 250 7000 SH SOLE 7000 0 0
ADVANCE PARADIGM INC COMMON 007491103 178 15000 SH SOLE 15000 0 0
AEROFLEX INC COMMON 007768104 396 8000 SH SOLE 8000 0 0
ALARIS MED INC COMMON 011637105 56 26500 SH SOLE 26500 0 0
ALLEGHENY ENERGY INC COMMON 017361106 310 11200 SH SOLE 11200 0 0
ALLIANT CORP COMMON 018802108 396 13000 SH SOLE 13000 0 0
ALLTEL CORP COMMON 020039103 430 6800 SH SOLE 6800 0 0
AMERICAN EXPRESS CO COMMON 025816109 10835 72750 SH SOLE 72750 0 0
AMERICAN RETIREMENT CORP SDCV 5.750 10/0 028913AA9 306 470000 PRN SOLE 470000 0 0
APPLIED SIGNAL TECHNOLOG COMMON 038237103 308 18000 SH SOLE 18000 0 0
APPLIX INC COMMON 038316105 349 30000 SH SOLE 30000 0 0
AT HOME CORP COM SER A 045919107 560 17000 SH SOLE 17000 0 0
ASSOCIATES FIRST CAP COR CL A 046008108 2559 119702 SH SOLE 119702 0 0
AUDIOVOX CORP CL A 050757103 249 5700 SH SOLE 5700 0 0
AVIGEN INC COMMON 053690103 311 7000 SH SOLE 7000 0 0
AVISTA CORP COMMON 05379B107 493 12103 SH SOLE 12103 0 0
BJS WHOLESALE CLUB INC COMMON 05548J106 537 14000 SH SOLE 14000 0 0
BP AMOCO P L C DEPOSITORY RECEI 055622104 1546 29032 SH SOLE 29032 0 0
BANK OF AMERICA CORP COMMON 060505104 405 7726 SH SOLE 7726 0 0
BATTLE MTN GOLD CO COMMON 071593107 58 30000 SH SOLE 30000 0 0
BELL ATLANTIC CORP COMMON 077853109 844 13800 SH SOLE 13800 0 0
BERKSHIRE HATHAWAY DEL CL A 084670108 286 5 SH SOLE 5 0 0
BESTFOODS COMMON 08658U101 4709 100600 SH SOLE 100600 0 0
BLOCK H & R INC COMMON 093671105 345 7700 SH SOLE 7700 0 0
BOISE CASCADE CORP COMMON 097383103 2738 78800 SH SOLE 78800 0 0
BOLT TECHNOLOGY CORP COMMON 097698104 273 74000 SH SOLE 74000 0 0
BRAUNS FASHIONS CORP COMMON 105658108 1162 46000 SH SOLE 46000 0 0
BRISTOL MYERS SQUIBB CO COMMON 110122108 744 12830 SH SOLE 12830 0 0
CMS ENERGY CORP COMMON 125896100 223 12300 SH SOLE 12300 0 0
CPS SYS INC COMMON 126162106 1 17000 SH SOLE 17000 0 0
CAPSTEAD MTG CORP COMMON 14067E100 78 20000 SH SOLE 20000 0 0
CHASE MANHATTAN CORP NEW COMMON 16161A108 10972 125841 SH SOLE 125841 0 0
CITIGROUP INC COMMON 172967101 584 9750 SH SOLE 9750 0 0
COCA COLA CO COMMON 191216100 620 13200 SH SOLE 13200 0 0
COMDIAL CORP COM NEW 200332302 394 30000 SH SOLE 30000 0 0
COMPAQ COMPUTER CORP COMMON 204493100 516 19098 SH SOLE 19098 0 0
COMTECH TELECOMMUNICATIO COM NEW 205826209 188 10200 SH SOLE 10200 0 0
CONSTELLATION ENERGY COR COMMON 210371100 438 13750 SH SOLE 13750 0 0
CORNERSTONE INTERNET SOL COMMON 21923C103 96 20000 SH SOLE 20000 0 0
CORSAIR COMMUNICATIONS I COMMON 220406102 268 14000 SH SOLE 14000 0 0
CROWN AMERN RLTY TR SH BEN INT 228186102 438 82500 SH SOLE 82500 0 0
DEAN FOODS CO COMMON 242361103 3978 148700 SH SOLE 148700 0 0
DOLLAR GEN CORP COMMON 256669102 605 22500 SH SOLE 22500 0 0
DOMINION RES BLACK WARRI UNITS BEN INT 25746Q108 463 39000 SH SOLE 39000 0 0
DOT HILL SYS CORP COMMON 25848T109 625 50000 SH SOLE 50000 0 0
DUKE ENERGY CORP COMMON 264399106 8315 158387 SH SOLE 158387 0 0
E4L INC COMMON 268452109 937 440952 SH SOLE 440952 0 0
ECLIPSYS CORP COMMON 278856109 337 17387 SH SOLE 17387 0 0
EDISON INTL COMMON 281020107 232 14000 SH SOLE 14000 0 0
ELAN PLC DEPOSITORY RECEI 284131208 285 6000 SH SOLE 6000 0 0
EMERSON ELEC CO COMMON 291011104 6101 114844 SH SOLE 114844 0 0
ENDOCARE INC COMMON 29264P104 191 10000 SH SOLE 10000 0 0
ENRON CORP COMMON 293561106 12766 170500 SH SOLE 170500 0 0
ERICSSON L M TEL CO DEPOSITORY RECEI 294821400 502 5348 SH SOLE 5348 0 0
EXCEL TECHNOLOGY INC COMMON 30067T103 708 20000 SH SOLE 20000 0 0
EXXON MOBIL CORP COMMON 30231G102 8434 108219 SH SOLE 108219 0 0
FEDERATED DEPT STORES IN COMMON 31410H101 1394 33000 SH SOLE 33000 0 0
FIRST DATA CORP COMMON 319963104 1997 45000 SH SOLE 45000 0 0
FLEETBOSTON FINL CORP COMMON 339030108 467 12800 SH SOLE 12800 0 0
FORD MTR CO DEL COMMON 345370100 8490 184806 SH SOLE 184806 0 0
FRANKLIN RES INC COMMON 354613101 16804 502537 SH SOLE 502537 0 0
GTE CORP COMMON 362320103 852 12000 SH SOLE 12000 0 0
GANTOS INC NEW COM NEW 36473U204 21 40333 SH SOLE 40333 0 0
GENERAL ELEC CO COMMON 369604103 1556 10000 SH SOLE 10000 0 0
GENERAL MTRS CORP CL H CL H NEW 370442832 7918 63600 SH SOLE 63600 0 0
GOLDEN ST BANCORP INC COMMON 381197102 1128 75500 SH SOLE 75500 0 0
GREENERY REHABILITATION SD CV 8.750 4/0 394797AB0 596 840000 PRN SOLE 840000 0 0
GREY WOLF INC COMMON 397888108 311 79000 SH SOLE 79000 0 0
HALLIBURTON CO COMMON 406216101 218 5300 SH SOLE 5300 0 0
HAUPPAUGE DIGITAL INC COMMON 419131107 302 16400 SH SOLE 16400 0 0
HAWAIIAN ELEC INDUSTRIES COMMON 419870100 461 14500 SH SOLE 14500 0 0
HIBERNIA CORP CL A 428656102 3285 312900 SH SOLE 312900 0 0
HOMESTAKE MNG CO COMMON 437614100 84 14000 SH SOLE 14000 0 0
HONEYWELL INTL INC COMMON 438516106 422 8000 SH SOLE 8000 0 0
HOUGHTON MIFFLIN CO COMMON 441560109 229 5400 SH SOLE 5400 0 0
IDACORP INC COMMON 451107106 6158 177200 SH SOLE 177200 0 0
IKOS SYS INC COM NEW 451716203 168 13000 SH SOLE 13000 0 0
INTEL CORP COMMON 458140100 7507 56900 SH SOLE 56900 0 0
INTERNATIONAL BUSINESS M COMMON 459200101 8632 73150 SH SOLE 73150 0 0
INTERVOICE-BRITE INC COMMON 461142101 289 10000 SH SOLE 10000 0 0
JOHNSON & JOHNSON COMMON 478160104 935 13304 SH SOLE 13304 0 0
K V PHARMACEUTICAL CO-A CL A 482740206 3366 125250 SH SOLE 125250 0 0
KEYSPAN CORP COMMON 49337W100 370 13400 SH SOLE 13400 0 0
KIMBERLY CLARK CORP COMMON 494368103 505 9000 SH SOLE 9000 0 0
KMART FING I PFD TRCV 7.75% 498778208 258 6000 SH SOLE 6000 0 0
LASERSIGHT INC COMMON 517924106 184 28000 SH SOLE 28000 0 0
LEARN2 COM INC COMMON 522002104 413 100000 SH SOLE 100000 0 0
LEARNING TREE INTL INC COMMON 522015106 213 6000 SH SOLE 6000 0 0
LIGHTBRIDGE INC COMMON 532226107 201 8600 SH SOLE 8600 0 0
LONGS DRUG STORES CORP COMMON 543162101 4054 178200 SH SOLE 178200 0 0
LONGVIEW FIBRE CO COMMON 543213102 1534 104000 SH SOLE 104000 0 0
LUCENT TECHNOLOGIES INC COMMON 549463107 8228 134329 SH SOLE 134329 0 0
MADDEN STEVEN LTD COMMON 556269108 456 24000 SH SOLE 24000 0 0
MANNING GREG AUCTIONS IN COMMON 563823103 354 17500 SH SOLE 17500 0 0
MARSH & MCLENNAN COS INC COMMON 571748102 12851 116500 SH SOLE 116500 0 0
MASCO CORP COMMON 574599106 4436 216400 SH SOLE 216400 0 0
MCDONALDS CORP COMMON 580135101 318 8500 SH SOLE 8500 0 0
MERCK & CO INC COMMON 589331107 1748 28140 SH SOLE 28140 0 0
MERCURY COMPUTER SYS COMMON 589378108 249 5100 SH SOLE 5100 0 0
MICROSOFT CORP COMMON 594918104 616 5800 SH SOLE 5800 0 0
NASDAQ 100 TR UNIT SER 1 631100104 4928 45000 SH SOLE 45000 0 0
NATIONAL DATA CORP COMMON 635621105 437 16800 SH SOLE 16800 0 0
NAVIGANT CONSULTING INC COMMON 63935N107 1045 95000 SH SOLE 95000 0 0
NEW CENTURY ENERGIES INC COMMON 64352U103 286 9500 SH SOLE 9500 0 0
NOBLE DRILLING CORP COMMON 655042109 372 9000 SH SOLE 9000 0 0
OAK INDS INC NOTE 4.875 3/0 671400AJ8 209 50000 PRN SOLE 50000 0 0
OFFICE DEPOT INC COMMON 676220106 888 76800 SH SOLE 76800 0 0
P C CONNECTION COMMON 69318J100 356 12600 SH SOLE 12600 0 0
PAUL HARRIS STORES INC COM NEW 703555201 424 140000 SH SOLE 140000 0 0
PENNEY J C INC COMMON 708160106 5659 380450 SH SOLE 380450 0 0
PEPSICO INC COMMON 713448108 5231 150000 SH SOLE 150000 0 0
PERFORMANCE TECHNOLOGIES COMMON 71376K102 374 8600 SH SOLE 8600 0 0
PFIZER INC COMMON 717081103 544 14865 SH SOLE 14865 0 0
PHILIP MORRIS COS INC COMMON 718154107 923 43681 SH SOLE 43681 0 0
PHILLIPS PETE CO COMMON 718507106 5282 114200 SH SOLE 114200 0 0
PIER 1 IMPORTS INC COMMON 720279108 256 25000 SH SOLE 25000 0 0
POLYMEDICA CORP COMMON 731738100 397 6750 SH SOLE 6750 0 0
POTOMAC ELEC PWR CO COMMON 737679100 328 14500 SH SOLE 14500 0 0
POWER-ONE INC COMMON 739308104 501 8300 SH SOLE 8300 0 0
PRIMUS TELECOMMUNICATION COMMON 741929103 488 9450 SH SOLE 9450 0 0
PROTEIN DESIGN LABS INC COMMON 74369L103 239 3000 SH SOLE 3000 0 0
PROVANT INC COMMON 743724106 240 30000 SH SOLE 30000 0 0
QUESTAR CORP COMMON 748356102 210 11300 SH SOLE 11300 0 0
RAMTRON INTL CORP COM NEW 751907304 179 12000 SH SOLE 12000 0 0
REMEC INC COMMON 759543101 556 11000 SH SOLE 11000 0 0
REPTRON ELECTRONICS INC SDCV 6.750 08/0 76026WAA7 700 1065000 PRN SOLE 1065000 0 0
ROYAL DUTCH PETE CO DEPOSITORY RECEI 780257804 278 4800 SH SOLE 4800 0 0
SBC COMMUNICATIONS INC COMMON 78387G103 10123 240315 SH SOLE 240315 0 0
SA TELECOMMUNICATIONS IN NOTE 10.000 8/1 783942AA3 30 425000 PRN SOLE 425000 0 0
SLM HLDG CORP COMMON 78442A109 1074 32250 SH SOLE 32250 0 0
SOS STAFFING SVCS INC COMMON 78462X104 62 14000 SH SOLE 14000 0 0
SAFEWAY INC COM NEW 786514208 217 4800 SH SOLE 4800 0 0
SANTA CRUZ OPERATION INC COMMON 801833104 179 19100 SH SOLE 19100 0 0
SARA LEE CORP COMMON 803111103 3884 215800 SH SOLE 215800 0 0
SCHLUMBERGER LTD COMMON 806857108 6181 80800 SH SOLE 80800 0 0
SCHWAB CHARLES CORP NEW COMMON 808513105 1023 18000 SH SOLE 18000 0 0
SCORE BRD INC COM NEW 809173206 4 123750 SH SOLE 123750 0 0
SERVICE MERCHANDISE INC COMMON 817587108 13 125000 SH SOLE 125000 0 0
SHARED MED SYS CORP COMMON 819486101 10977 211600 SH SOLE 211600 0 0
SHERWIN WILLIAMS CO COMMON 824348106 3783 171000 SH SOLE 171000 0 0
SOUTHERN CO COMMON 842587107 4539 208700 SH SOLE 208700 0 0
SPRINT CORP COM FON GROUP 852061100 503 7950 SH SOLE 7950 0 0
STILLWATER MNG CO COMMON 86074Q102 212 5300 SH SOLE 5300 0 0
SUN MICROSYSTEMS INC COMMON 866810104 487 5200 SH SOLE 5200 0 0
SUNGARD DATA SYS INC COMMON 867363103 378 10000 SH SOLE 10000 0 0
SUPERVALU INC COMMON 868536103 2416 127600 SH SOLE 127600 0 0
TNP ENTERPRISES INC COMMON 872594106 416 9500 SH SOLE 9500 0 0
TROY GROUP INC COMMON 89733N106 209 7600 SH SOLE 7600 0 0
TRUETIME INC COMMON 897868105 80 11000 SH SOLE 11000 0 0
II VI INC COMMON 902104108 247 6500 SH SOLE 6500 0 0
UNIFY CORP COMMON 904743101 204 10000 SH SOLE 10000 0 0
UNION PAC RES GROUP INC COMMON 907834105 2175 150000 SH SOLE 150000 0 0
UNITED HEALTHCARE CORP COMMON 910581107 1133 19000 SH SOLE 19000 0 0
UNITED SHIPPING & TECHNO COMMON 911498103 535 35500 SH SOLE 35500 0 0
VANTAGEMED CORP COMMON 92208W106 305 69600 SH SOLE 69600 0 0
VARCO INTL INC COMMON 922126107 1048 83000 SH SOLE 83000 0 0
VARIAN INC COMMON 922206107 3577 93200 SH SOLE 93200 0 0
VARIAN SEMICONDUCTOR EQU COMMON 922207105 5443 85543 SH SOLE 85543 0 0
VARIAN MED SYS INC COMMON 92220P105 8336 182700 SH SOLE 182700 0 0
VODAFONE AIRTOUCH PLC DEPOSITORY RECEI 92857T107 1111 20000 SH SOLE 20000 0 0
WALGREEN CO COMMON 931422109 7197 279500 SH SOLE 279500 0 0
WASHINGTON GAS LT CO COMMON 938837101 353 13000 SH SOLE 13000 0 0
WEYERHAEUSER CO COMMON 962166104 832 14600 SH SOLE 14600 0 0
WILLAMETTE INDS INC COMMON 969133107 361 9000 SH SOLE 9000 0 0
WORKFLOW MGMT INC COMMON 98137N109 593 22000 SH SOLE 22000 0 0
WORLD ACCESS 144A CVT 4.5% 10/1/02 98141AAA9 701 825000 PRN SOLE 825000 0 0
WORLDWIDE WEB NETWORX CO COMMON 981604101 128 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 190 380000 PRN SOLE 380000 0 0
XIRCOM INC COMMON 983922105 396 10700 SH SOLE 10700 0 0
ZAPME CORP COMMON 98912E100 114 15000 SH SOLE 15000 0 0
ZOMAX INC MINN COMMON 989929104 1868 31000 SH SOLE 31000 0 0
GLOBAL CROSSING LTD COMMON G3921A100 8685 212150 SH SOLE 212150 0 0
TRANSOCEAN SEDCO FOREX I ORD G90078109 254 4953 SH SOLE 4953 0 0
GILAT COMMUNICATIONS LTD ORD M50876107 333 12500 SH SOLE 12500 0 0
</TABLE>
