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OMB Number: 3235-0006
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: 9/30/99
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: LUTHER KING CAPITAL MANAGEMENT
Address: 301 Commerce Street
Suite 1600
Fort Worth, TX 76102
13F File Number: 28-1071
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: Barbara Garcia
Title: Treasurer
Phone: 817-332-3235
Signature, Place, and Date of Signing:
Fort Worth, TX 10/12/99
- -------------------------------------- -------------- ---------------
[Signature] [City] [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:
[If there are no entries in this list, omit this section.)
<TABLE>
<CAPTION>
13F File Number Name
<S> <C>
28-
-------------------- -------------------------
</TABLE>
<PAGE> 2
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: None
Form 13F Information Table Entry Total: 340
Form 13F Information Table Value Total: $4,180,183
List of Other Included Managers
Provide a number list of the name(s) and 13F file number(s) of all institutional
investment managers with respect to which this report is filed, other than the
manager filing this report.
[If there are no entries in this list, state "NONE" and omit the column heading
and list entries.]
<TABLE>
<CAPTION>
No. 13F File Number Name
<S> <C> <C>
---- -------------- ------------------------
</TABLE>
[Repeat as necessary.]
<PAGE> 3
9/30/99
FORM 13F
REPORTING MANAGER: LUTHER KING CAPITAL MANAGEMENT
PAGE 1
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
RAILAMERICA,INC JR CV SU 6% DUE
07/31/200 000009993 2750 275000 PRN SOLE 0 275000 0
AMFM INC COMMON 001693100 10968 180544 SH SOLE 0 180544 0
AMR CORPORATION COMMON 001765106 338 6200 SH SOLE 0 6200 0
AMERICAN TEL & TELEG CO COMMON 001957109 570 13099 SH SOLE 0 13099 0
AT&T CORP COM LIB
GRP A 001957208 2321 62200 SH SOLE 0 62200 0
AT & T CDA INC DEPS RCPT
CL B 00207Q202 3769 60000 SH SOLE 0 60000 0
ABBOTT LABORATORIES COMMON 002824100 2397 65340 SH SOLE 0 65340 0
ACE CASH EXPRESS INC COMMON 004403101 537 37000 SH SOLE 0 37000 0
ADAPTEC INC COMMON 00651F108 6548 165000 SH SOLE 0 165000 0
ALLIEDSIGNAL INC COMMON 019512102 798 13307 SH SOLE 0 13307 0
ALLIED WASTE INDS INC COM PAR
$.01NEW 019589308 8158 698000 SH SOLE 0 698000 0
ALLSTATE CORP COMMON 020002101 4399 176400 SH SOLE 0 176400 0
ALLTEL CORPORATION COMMON 020039103 108706 1544674 SH SOLE 0 1544674 0
AMERICA ONLINE INC DEL COMMON 02364J104 2352 22600 SH SOLE 0 22600 0
AMERICAN EXPRESS CO COMMON 025816109 524 3881 SH SOLE 0 3881 0
AMERICAN GENERAL CORP COMMON 026351106 45894 725593 SH SOLE 0 725593 0
AMERICAN HERITAGE LIFE I COMMON 026522102 3810 120000 SH SOLE 0 120000 0
AMERICAN HOME PRODS CORP COMMON 026609107 36014 867805 SH SOLE 0 867805 0
AMERICAN INTL GROUP INC COMMON 026874107 14268 164119 SH SOLE 0 164119 0
</TABLE>
<PAGE> 4
9/30/99
FORM 13F
REPORTING MANAGER: LUTHER KING CAPITAL MANAGEMENT
PAGE 2
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
AMERUS LIFE HLDGS INC COMMON 030732101 954 45011 SH SOLE 0 45011 0
ANADARKO PETROLEUM CORP COMMON 032511107 4263 139500 SH SOLE 0 139500 0
ANHEUSER BUSCH COS INC COMMON 035229103 23646 337500 SH SOLE 0 337500 0
ARMANINO FOODS DISTINCTI COM NO
PAR 99 042166702 1018 220000 SH SOLE 0 220000 0
ASSOCIATES FIRST CAP COR CL A 046008108 46513 1292028 SH SOLE 0 1292028 0
ATLANTIC GULF COMMUNITIE PFD B CV
20%NO 048556203 352 55206 SH SOLE 0 55206 0
ATLANTIC GULF COMM CORP SERIES B
CONV PF 048556922 298 35000 SH SOLE 0 35000 0
ATLANTIC RICHFIELD CO COMMON 048825103 19998 225646 SH SOLE 0 225646 0
AZTEC MANUFACTURING CO COMMON 054825104 1618 155000 SH SOLE 0 155000 0
BJ SVCS CO COMMON 055482103 3436 108000 SH SOLE 0 108000 0
BP AMOCO P L C DEPOSITORY
RECEI 055622104 43749 394803 SH SOLE 0 394803 0
BMC SOFTWARE INC COMMON 055921100 8294 115900 SH SOLE 0 115900 0
BAKER HUGHES INC COMMON 057224107 6692 230750 SH SOLE 0 230750 0
BANK OF AMERICA CORP COMMON 060505104 508 9125 SH SOLE 0 9125 0
C R BARD INC COMMON 067383109 5812 123500 SH SOLE 0 123500 0
BASIN EXPL INC COMMON 070107107 840 35000 SH SOLE 0 35000 0
BAXTER INTERNATIONAL INC COMMON 071813109 611 10149 SH SOLE 0 10149 0
BELL ATLANTIC CORP COMMON 077853109 35235 523450 SH SOLE 0 523450 0
BELO A H CORP DEL COM SER A 080555105 55839 2919686 SH SOLE 0 2919686 0
</TABLE>
<PAGE> 5
9/30/99
FORM 13F
REPORTING MANAGER: LUTHER KING CAPITAL MANAGEMENT
PAGE 3
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
BERKSHIRE HATHAWAY INC D CL A 084670108 715 13 SH SOLE 0 13 0
BEST BUY INC COMMON 086516101 2294 37000 SH SOLE 0 37000 0
BLANCH E W HLDGS INC COMMON 093210102 1303 20000 SH SOLE 0 20000 0
H & R BLOCK INC COMMON 093671105 12014 276575 SH SOLE 0 276575 0
BOEING COMPANY COMMON 097023105 595 13950 SH SOLE 0 13950 0
BOISE CASCADE CORP COMMON 097383103 833 22850 SH SOLE 0 22850 0
BOISE CASCADE OFFICE PRO COMMON 097403109 1479 136000 SH SOLE 0 136000 0
BORDERS GROUP INC COMMON 099709107 337 22937 SH SOLE 0 22937 0
BRANDYWINE RLTY TR SH BEN
INT NEW 105368203 1568 96500 SH SOLE 0 96500 0
BRINKER INTERNATL INC COMMON 109641100 355 13122 SH SOLE 0 13122 0
BRISTOL-MYERS SQUIBB CO COMMON 110122108 3919 58052 SH SOLE 0 58052 0
BROWN FORMAN CORP CL B 115637209 441 7074 SH SOLE 0 7074 0
TOM BROWN INC COM NEW 115660201 3732 253000 SH SOLE 0 253000 0
BURLINGTON RESOURCES INC COMMON 122014103 5099 138739 SH SOLE 0 138739 0
CBS CORP COMMON 12490K107 44125 954047 SH SOLE 0 954047 0
CDW COMPUTER CTRS INC COMMON 125129106 1676 34300 SH SOLE 0 34300 0
CE FRANKLIN LTD COMMON 125151100 60 12000 SH SOLE 0 12000 0
CIT GROUP INC CL A 125577106 2384 115925 SH SOLE 0 115925 0
CNA SURETY CORP COMMON 12612L108 4003 305000 SH SOLE 0 305000 0
</TABLE>
<PAGE> 6
9/30/99
FORM 13F
REPORTING MANAGER: LUTHER KING CAPITAL MANAGEMENT
PAGE 4
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CABOT OIL & GAS CORP CL A 127097103 7343 425700 SH SOLE 0 425700 0
CAL DIVE INTL INC COMMON 127914109 514 15000 SH SOLE 0 15000 0
CAPITAL ONE FINL CORP COMMON 14040H105 14254 365475 SH SOLE 0 365475 0
CAPROCK COMMUNICATIONS C COMMON 140667106 1465 63000 SH SOLE 0 63000 0
CARBO CERAMICS INC COMMON 140781105 2475 90000 SH SOLE 0 90000 0
CARDINAL HEALTH INC COMMON 14149Y108 459 8425 SH SOLE 0 8425 0
CARMIKE CINEMAS INC CL A 143436103 1660 126500 SH SOLE 0 126500 0
CASELLA WASTE SYS INC CL A 147448104 5937 355800 SH SOLE 0 355800 0
CENDANT CORP COMMON 151313103 11256 634125 SH SOLE 0 634125 0
CENTEX CORPORATION COMMON 152312104 922 31200 SH SOLE 0 31200 0
CENTEX CONSTRUCTION PROD COMMON 15231R109 631 17000 SH SOLE 0 17000 0
CHART INDS INC COMMON 16115Q100 1274 258000 SH SOLE 0 258000 0
CHEVRON CORPORATION COMMON 166751107 1503 16932 SH SOLE 0 16932 0
CHIEFTAIN INTL INC COMMON 16867C101 1140 60000 SH SOLE 0 60000 0
CIENA CORP COMMON 171779101 3453 94600 SH SOLE 0 94600 0
CISCO SYS INC COMMON 17275R102 88001 1283511 SH SOLE 0 1283511 0
CITIGROUP INC COMMON 172967101 20829 473376 SH SOLE 0 473376 0
CLEAR CHANNEL COMM INC COMMON 184502102 6696 83829 SH SOLE 0 83829 0
COCA-COLA COMPANY COMMON 191216100 11888 246392 SH SOLE 0 246392 0
</TABLE>
<PAGE> 7
9/30/99
FORM 13F
REPORTING MANAGER: LUTHER KING CAPITAL MANAGEMENT
PAGE 5
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
COLGATE-PALMOLIVE CO COMMON 194162103 98886 2161447 SH SOLE 0 2161447 0
COMCAST CORPORATION CL K CL A SPL 200300200 359 9000 SH SOLE 0 9000 0
COMPASS BANCSHARES INC COMMON 20449H109 25330 1013190 SH SOLE 0 1013190 0
CONOCO INC CL B 208251405 878 32068 SH SOLE 0 32068 0
COOPER CAMERON CORP COMMON 216640102 4360 115500 SH SOLE 0 115500 0
COPART INC COMMON 217204106 1918 104000 SH SOLE 0 104000 0
CORNING INCORPORATED COMMON 219350105 71278 1039610 SH SOLE 0 1039610 0
COVENANT TRANS INC CL A 22284P105 1373 90000 SH SOLE 0 90000 0
CRESCENT REAL ESTATE EQU COMMON 225756105 25834 1435239 SH SOLE 0 1435239 0
CRESCENT OPER INC COMMON 22575M100 126 30666 SH SOLE 0 30666 0
CROSS TIMBERS OIL CO COMMON 227573102 2208 163540 SH SOLE 0 163540 0
CROWN CASTLE INTL CORP COMMON 228227104 6488 346600 SH SOLE 0 346600 0
CROWN PAC PARTNERS L P UNIT LTD
PARTN 228439105 236 11250 SH SOLE 0 11250 0
CULLEN FROST BANKERS INC COMMON 229899109 29320 1172790 SH SOLE 0 1172790 0
CUMULUS MEDIA INC CL A 231082108 9417 288100 SH SOLE 0 288100 0
DALLAS SEMICONDUCTOR COR COMMON 235204104 3954 74000 SH SOLE 0 74000 0
DAYTON HUDSON CORP COMMON 239753106 493 8200 SH SOLE 0 8200 0
CROWN CASTLE DECS TR V CV PFD
7.25% 24366F203 6431 350000 SH SOLE 0 350000 0
DEERE & CO COMMON 244199105 5958 154000 SH SOLE 0 154000 0
</TABLE>
<PAGE> 8
9/30/99
FORM 13F
REPORTING MANAGER: LUTHER KING CAPITAL MANAGEMENT
PAGE 6
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
DIAMOND OFFSHORE DRILLIN COMMON 25271C102 367 11000 SH SOLE 0 11000 0
DIEBOLD INCORPORATED COMMON 253651103 22690 981186 SH SOLE 0 981186 0
WALT DISNEY COMPANY COMMON 254687106 21237 816797 SH SOLE 0 816797 0
DONALDSON LUFKIN & JENRE COM DLJ 257661108 396 10000 SH SOLE 0 10000 0
DREW INDUSTRIES INC COM NEW 26168L205 1205 133000 SH SOLE 0 133000 0
DRIL-QUIP INC COMMON 262037104 3060 120000 SH SOLE 0 120000 0
DRYPERS CORP COM NEW 262497308 1321 445000 SH SOLE 0 445000 0
E I DU PONT DE NEMOURS COMMON 263534109 21801 360339 SH SOLE 0 360339 0
E M C CORP MASS COMMON 268648102 39615 555025 SH SOLE 0 555025 0
ENSCO INTL INC COMMON 26874Q100 325 18000 SH SOLE 0 18000 0
EDGE PETE CORP DEL COMMON 279862106 140 22000 SH SOLE 0 22000 0
EL PASO ENERGY CORP DEL COMMON 283905107 745 18500 SH SOLE 0 18500 0
EMERSON ELECTRIC CO COMMON 291011104 11515 182238 SH SOLE 0 182238 0
ENCAL ENERGY LTD COMMON 29250D107 8467 1575000 SH SOLE 0 1575000 0
ENCORE WIRE CORP COMMON 292562105 544 60000 SH SOLE 0 60000 0
ENRON CORP COMMON 293561106 937 22812 SH SOLE 0 22812 0
ENTRUST TECHNOLOGIES INC COMMON 293848107 1503 67000 SH SOLE 0 67000 0
ERICSSON L M TEL CO DEPOSITORY
RECEI 294821400 863 27600 SH SOLE 0 27600 0
EXODUS COMMUNICATIONS IN COMMON 302088109 2695 37400 SH SOLE 0 37400 0
</TABLE>
<PAGE> 9
9/30/99
FORM 13F
REPORTING MANAGER: LUTHER KING CAPITAL MANAGEMENT
PAGE 7
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
EXTENDED STAY AMER INC COMMON 30224P101 90 10000 SH SOLE 0 10000 0
EXXON CORPORATION COMMON 302290101 201476 2651002 SH SOLE 0 2651002 0
FVNB CORP COMMON 302674106 1510 48500 SH SOLE 0 48500 0
FAMILY DLR STORES INC COMMON 307000109 5987 283400 SH SOLE 0 283400 0
FEDERAL NATL MTG ASSN COMMON 313586109 25680 409649 SH SOLE 0 409649 0
FIFTH THIRD BANCORP COMMON 316773100 346 5692 SH SOLE 0 5692 0
FIRST DATA CORP COMMON 319963104 6204 141400 SH SOLE 0 141400 0
FIRST UTD BANCSHARES INC COMMON 33741E104 2486 140080 SH SOLE 0 140080 0
FIRSTAR CORP NEW WIS COMMON 33763V109 304 11869 SH SOLE 0 11869 0
FORTUNE BRANDS INC COMMON 349631101 227 7026 SH SOLE 0 7026 0
G & K SVCS INC CL A 361268105 3362 83000 SH SOLE 0 83000 0
GTE CORP COMMON 362320103 7259 94427 SH SOLE 0 94427 0
GALILEO INTL INC COMMON 363547100 5140 127700 SH SOLE 0 127700 0
GANNETT CO INC COMMON 364730101 27533 397950 SH SOLE 0 397950 0
GENERAL ELECTRIC CO COMMON 369604103 141828 1196234 SH SOLE 0 1196234 0
GENERAL MILLS INC COMMON 370334104 276 3400 SH SOLE 0 3400 0
GILLETTE COMPANY COMMON 375766102 23269 685651 SH SOLE 0 685651 0
GLAXO HOLDINGS PLC ADR DEPOSITORY
RECEI 37733W105 489 9400 SH SOLE 0 9400 0
GLOBAL INDS LTD COMMON 379336100 203 25000 SH SOLE 0 25000 0
</TABLE>
<PAGE> 10
9/30/99
FORM 13F
REPORTING MANAGER: LUTHER KING CAPITAL MANAGEMENT
PAGE 8
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
GUIDANT CORP COMMON 401698105 2189 40816 SH SOLE 0 40816 0
HS RES INC COMMON 404297103 4012 245000 SH SOLE 0 245000 0
HALLIBURTON COMPANY COMMON 406216101 36706 895264 SH SOLE 0 895264 0
HAPPY KIDS INC COMMON 411391105 1102 110200 SH SOLE 0 110200 0
HARTE-HANKS COMMUNCATN COMMON 416196103 32807 1302500 SH SOLE 0 1302500 0
H J HEINZ COMPANY COMMON 423074103 12690 295111 SH SOLE 0 295111 0
HEWLETT PACKARD COMPANY COMMON 428236103 83543 920580 SH SOLE 0 920580 0
HIBERNIA CORP CL A 428656102 1483 127600 SH SOLE 0 127600 0
HOME DEPOT INC COMMON 437076102 158370 2307757 SH SOLE 0 2307757 0
HOME DEPOT INC NOTE
3.250 11/0 437076AE2 6548 2200000 PRN SOLE 0 2200000 0
HOOPER HOLMES INC COMMON 439104100 4105 160200 SH SOLE 0 160200 0
ICO HLDGS INC COMMON 449293109 1964 1122500 SH SOLE 0 1122500 0
IMS HEALTH INC COMMON 449934108 23014 1008850 SH SOLE 0 1008850 0
IRI INTL CORP COMMON 45004F107 94 20000 SH SOLE 0 20000 0
ITC DELTACOM INC COMMON 45031T104 3713 135000 SH SOLE 0 135000 0
ITT EDUCATIONAL SERVICES COMMON 45068B109 4319 221500 SH SOLE 0 221500 0
ITXC CORP COMMON 45069F109 318 10000 SH SOLE 0 10000 0
INDEPENDENT ENERGY HLDGS DEPOSITORY
RECEI 45384X108 2111 110000 SH SOLE 0 110000 0
INNOTEK COMMON 45764M102 0 10000 SH SOLE 0 10000 0
</TABLE>
<PAGE> 11
9/30/99
FORM 13F
REPORTING MANAGER: LUTHER KING CAPITAL MANAGEMENT
PAGE 9
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
INPUT/OUTPUT INC COMMON 457652105 3642 549800 SH SOLE 0 549800 0
INTEL CORPORATION COMMON 458140100 58199 783165 SH SOLE 0 783165 0
INTERNAP NETWORK SVCS CO COMMON 45885A102 446 10000 SH SOLE 0 10000 0
INTL BUSINESS MACHINES COMMON 459200101 16597 137165 SH SOLE 0 137165 0
INTERNATIONAL HOME FOODS COMMON 459655106 2683 153300 SH SOLE 0 153300 0
INTERNATIONAL ISOTOPES I COMMON 45972C102 1464 192000 SH SOLE 0 192000 0
INTERNATIONAL PAPER CO COMMON 460146103 596 12400 SH SOLE 0 12400 0
INTERTAN INC COMMON 461120107 981 50000 SH SOLE 0 50000 0
INVESTMENT TECHNOLOGY GR COMMON 46145F105 3367 146399 SH SOLE 0 146399 0
IRON MTN INC DEL COMMON 46284P104 3489 103000 SH SOLE 0 103000 0
JDS UNIPHASE CORP COMMON 46612J101 4052 35600 SH SOLE 0 35600 0
JEFFERIES GROUP INC NEW COMMON 472319102 626 30000 SH SOLE 0 30000 0
JEFFERSON-PILOT CORP COMMON 475070108 275 4354 SH SOLE 0 4354 0
JOHNSON & JOHNSON COMMON 478160104 56929 619639 SH SOLE 0 619639 0
JONES PHARMA INC COMMON 480236108 4846 147000 SH SOLE 0 147000 0
JUSTIN INDUSTRIES INC COMMON 482171105 22006 1551092 SH SOLE 0 1551092 0
KENT ELECTRONICS CORP NOTE
4.500 9/0 490553AA2 11437 14616000 PRN SOLE 0 14616000 0
KEVCO INC COMMON 492716105 1156 243300 SH SOLE 0 243300 0
KIMBERLY-CLARK CORP COMMON 494368103 95180 1804354 SH SOLE 0 1804354 0
</TABLE>
<PAGE> 12
9/30/99
FORM 13F
REPORTING MANAGER: LUTHER KING CAPITAL MANAGEMENT
PAGE 10
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
KINDER MORGAN ENERGY PAR UT LTD
PARTNER 494550106 290 6700 SH SOLE 0 6700 0
KIRBY CORPORATION COMMON 497266106 33208 1692107 SH SOLE 0 1692107 0
KOPIN CORP COMMON 500600101 971 35000 SH SOLE 0 35000 0
LBP INC COMMON 50179V101 178 50000 SH SOLE 0 50000 0
LAUDER ESTEE COS INC CL A 518439104 4500 115200 SH SOLE 0 115200 0
LEVIATHAN GAS PIPELINE P COM UNIT 527367205 432 19000 SH SOLE 0 19000 0
ELI LILLY AND COMPANY COMMON 532457108 538 8386 SH SOLE 0 8386 0
LINCOLN NATL CORP IND COMMON 534187109 864 23000 SH SOLE 0 23000 0
LINDSAY MFG CO COMMON 535555106 10977 559325 SH SOLE 0 559325 0
LITTELFUSE INC COMMON 537008104 1891 85000 SH SOLE 0 85000 0
LONGVIEW FIBRE CO COMMON 543213102 6415 515750 SH SOLE 0 515750 0
LOUISIANA PAC CORP COMMON 546347105 3281 210000 SH SOLE 0 210000 0
LUBYS INC COMMON 549282101 2392 208000 SH SOLE 0 208000 0
LUCENT TECHNOLOGIES INC COMMON 549463107 11200 172633 SH SOLE 0 172633 0
MBNA CORP COMMON 55262L100 339 14855 SH SOLE 0 14855 0
MCI WORLDCOM INC COMMON 55268B106 89073 1239272 SH SOLE 0 1239272 0
MDU RES GROUP INC COMMON 552690109 354 15750 SH SOLE 0 15750 0
MAC-GRAY CORP COMMON 554153106 325 50000 SH SOLE 0 50000 0
MACMILLAN BLOEDEL LTD COMMON 554783209 19140 1222700 SH SOLE 0 1222700 0
</TABLE>
<PAGE> 13
9/30/99
FORM 13F
REPORTING MANAGER: LUTHER KING CAPITAL MANAGEMENT
PAGE 11
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
MAGNUM HUNTER RES INC COM PAR
$0.002 55972F203 140 35000 SH SOLE 0 35000 0
MARSH & MCLENNAN COS INC COMMON 571748102 329 4800 SH SOLE 0 4800 0
MAXXIM MED INC COMMON 57777G105 8270 345500 SH SOLE 0 345500 0
MCDONALDS CORP COMMON 580135101 562 13000 SH SOLE 0 13000 0
MCGRATH RENTCORP COMMON 580589109 990 55000 SH SOLE 0 55000 0
MEDTRONIC INC COMMON 585055106 9396 264200 SH SOLE 0 264200 0
MEDSTONE INTL INC NEW COMMON 58505C101 135 20800 SH SOLE 0 20800 0
MELLON BK CORP COMMON 585509102 35970 1069732 SH SOLE 0 1069732 0
MERCK & CO INC COMMON 589331107 50740 782866 SH SOLE 0 782866 0
MERIDIAN RESOURCE CORP COMMON 58977Q109 712 149880 SH SOLE 0 149880 0
MICROSOFT CORPORATION COMMON 594918104 71248 786725 SH SOLE 0 786725 0
MID ATLANTIC MED SVCS IN COMMON 59523C107 1966 220000 SH SOLE 0 220000 0
MINNESOTA MNG & MFG CO COMMON 604059105 730 7600 SH SOLE 0 7600 0
MISSION CRITICAL SOFTWAR COMMON 605047109 3493 78500 SH SOLE 0 78500 0
MOBIL CORPORATION COMMON 607059102 86382 857387 SH SOLE 0 857387 0
MOBILE MINI INC COMMON 60740F105 10006 457400 SH SOLE 0 457400 0
MONSANTO CO COMMON 611662107 12131 339925 SH SOLE 0 339925 0
MONTANA POWER CO COMMON 612085100 3044 100000 SH SOLE 0 100000 0
MONY GROUP INC COMMON 615337102 768 26600 SH SOLE 0 26600 0
</TABLE>
<PAGE> 14
9/30/99
FORM 13F
REPORTING MANAGER: LUTHER KING CAPITAL MANAGEMENT
PAGE 12
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
MOTOROLA INC COMMON 620076109 79487 903261 SH SOLE 0 903261 0
NABISCO HLDGS CORP CL A 629526104 713 20625 SH SOLE 0 20625 0
NABORS INDUSTRIES INC COMMON 629568106 10067 402682 SH SOLE 0 402682 0
NATIONAL INFO CONSORTIUM COMMON 636491102 4197 170000 SH SOLE 0 170000 0
NATIONAL SVC INDS INC COMMON 637657107 576 18300 SH SOLE 0 18300 0
NESTLE S A DEPOSITORY
RECEI 641069406 564 6000 SH SOLE 0 6000 0
NEWPARK RES INC COM PAR
$.01NEW 651718504 233 30000 SH SOLE 0 30000 0
NEXTLINK COMMUNICATIONS CL A 65333H707 2768 53400 SH SOLE 0 53400 0
NIKE INC CL B 654106103 9686 170300 SH SOLE 0 170300 0
NOBLE AFFILIATES INC COMMON 654894104 22068 760967 SH SOLE 0 760967 0
NOKIA CORP DEPOSITORY
RECEI 654902204 4125 45900 SH SOLE 0 45900 0
NOBLE DRILLING CORP COMMON 655042109 7526 344055 SH SOLE 0 344055 0
NORTEL NETWORKS CORP COMMON 656569100 76054 1491250 SH SOLE 0 1491250 0
NORTH FACE INC COMMON 659317101 564 95000 SH SOLE 0 95000 0
NORTHERN TRUST CORP COMMON 665859104 23919 286450 SH SOLE 0 286450 0
OCCIDENTAL PETROLEUM COR COMMON 674599105 463 20000 SH SOLE 0 20000 0
OCEAN ENERGY INC TEX COMMON 67481E106 897 88024 SH SOLE 0 88024 0
OCEANEERING INTL INC COMMON 675232102 504 30000 SH SOLE 0 30000 0
OFFICE DEPOT INC COMMON 676220106 3891 370600 SH SOLE 0 370600 0
</TABLE>
<PAGE> 15
9/30/99
FORM 13F
REPORTING MANAGER: LUTHER KING CAPITAL MANAGEMENT
PAGE 13
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
OLSTEN CORPORATION COMMON 681385100 167 16030 SH SOLE 0 16030 0
OMNICOM GROUP INC COMMON 681919106 736 9300 SH SOLE 0 9300 0
ORACLE CORP COMMON 68389X105 21324 468651 SH SOLE 0 468651 0
OUTDOOR SYS INC COMMON 690057104 14504 405700 SH SOLE 0 405700 0
PSW TECHNOLOGIES INC COMMON 69364J103 266 50000 SH SOLE 0 50000 0
PATTERSON DENTAL CO COMMON 703412106 10173 205250 SH SOLE 0 205250 0
PAWNMART INC COMMON 704157106 137 61000 SH SOLE 0 61000 0
PAWNMART INC *W EXP
3/17/200 704157106 113 50000 SOLE 0 50000 0
PAWNMART INC *W EXP
3/17/200 704157106 113 50000 SOLE 0 50000 0
PEPSICO INC COMMON 713448108 66812 2190549 SH SOLE 0 2190549 0
PETROLEUM GEO-SVCS A/S DEPOSITORY
RECEI 716597109 8247 432650 SH SOLE 0 432650 0
PHARMACIA & UPJOHN INC COMMON 716941109 50492 1017466 SH SOLE 0 1017466 0
PFIZER INC COMMON 717081103 18220 507862 SH SOLE 0 507862 0
PHILIP MORRIS COS COMMON 718154107 18956 554461 SH SOLE 0 554461 0
PINNACLE HLDGS INC COMMON 72346N101 3240 124000 SH SOLE 0 124000 0
PRENTISS PPTYS TR SH BEN
INT 740706106 1742 78500 SH SOLE 0 78500 0
PRIME MED SVCS INC NEW COMMON 74156D108 3218 338700 SH SOLE 0 338700 0
PROCTER & GAMBLE COMPANY COMMON 742718109 38829 414177 SH SOLE 0 414177 0
PROLOGIS TR SH BEN
INT 743410102 363 19217 SH SOLE 0 19217 0
</TABLE>
<PAGE> 16
9/30/99
FORM 13F
REPORTING MANAGER: LUTHER KING CAPITAL MANAGEMENT
PAGE 14
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
PROVIDIAN FINL CORP COMMON 74406A102 4173 52700 SH SOLE 0 52700 0
QUEST ED CORP COMMON 74835F102 1213 154000 SH SOLE 0 154000 0
R & B FALCON CORP COMMON 74912E101 434 33100 SH SOLE 0 33100 0
RADISYS CORP COMMON 750459109 2335 59500 SH SOLE 0 59500 0
RAILAMERICA INC COMMON 750753105 12917 1308000 SH SOLE 0 1308000 0
RAILAMERICA SERIES
A CONV PF 750990202 875 28000 SH SOLE 0 28000 0
RELIANCE STEEL & ALUMINU COMMON 759509102 5725 272625 SH SOLE 0 272625 0
REPUBLIC SVCS INC COMMON 760759100 1218 112000 SH SOLE 0 112000 0
ROBERT HALF INTL INC COMMON 770323103 428 18000 SH SOLE 0 18000 0
ROYAL DUTCH PETE CO DEPOSITORY
RECEI 780257804 1909 32318 SH SOLE 0 32318 0
RYAN ENERGY TECHNOLOGIES COMMON 78348T103 48 16000 SH SOLE 0 16000 0
SBC COMMUNICATIONS INC COMMON 78387G103 8158 159758 SH SOLE 0 159758 0
SFX ENTMT INC CL A 784178105 2205 72000 SH SOLE 0 72000 0
SABINE ROYALTY TR UNIT BEN
INT 785688102 147 10079 SH SOLE 0 10079 0
SAGA COMMUNICATIONS CL A 786598102 2253 97967 SH SOLE 0 97967 0
ST JOE CO COMMON 790148100 7626 353675 SH SOLE 0 353675 0
SAKS INC COMMON 79377W108 15166 998554 SH SOLE 0 998554 0
SALEM COMMUNICATIONS COR CL A 794093104 2372 93000 SH SOLE 0 93000 0
SANTA FE SNYDER CORP COMMON 80218K105 2491 276750 SH SOLE 0 276750 0
</TABLE>
<PAGE> 17
9/30/99
FORM 13F
REPORTING MANAGER: LUTHER KING CAPITAL MANAGEMENT
PAGE 15
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
SARA LEE CORPORATION COMMON 803111103 1505 64400 SH SOLE 0 64400 0
SCHERING-PLOUGH CORP COMMON 806605101 118633 2719378 SH SOLE 0 2719378 0
SCHLUMBERGER LIMITED COMMON 806857108 62432 1001914 SH SOLE 0 1001914 0
SCHWAB CHARLES CORP NEW COMMON 808513105 2207 66000 SH SOLE 0 66000 0
SCIENTIFIC ATLANTA INC COMMON 808655104 6228 125650 SH SOLE 0 125650 0
SCOTT TECHNOLOGIES INC COMMON 810022301 5702 288700 SH SOLE 0 288700 0
SEAGRAM COMPANY LIMITED COMMON 811850106 664 14600 SH SOLE 0 14600 0
SHERWIN-WILLIAMS CO COMMON 824348106 34480 1646794 SH SOLE 0 1646794 0
SHOP AT HOME INC COM NEW 825066301 1422 158000 SH SOLE 0 158000 0
SIMMONS 1ST NATL CORP CL A $5
PAR 828730200 263 8840 SH SOLE 0 8840 0
SMITH INTL INC COMMON 832110100 2604 64300 SH SOLE 0 64300 0
SMITHKLINE BEECHAM PLC DEPOSITORY
RECEI 832378301 69521 1206440 SH SOLE 0 1206440 0
SOUTHERN UN CO NEW COMMON 844030106 1165 61303 SH SOLE 0 61303 0
SOUTHWEST AIRLS CO COMMON 844741108 198 13050 SH SOLE 0 13050 0
SOUTHWEST SECS GROUP INC COMMON 845224104 594 22000 SH SOLE 0 22000 0
SPRINT CORP COM FON
GROUP 852061100 235 4340 SH SOLE 0 4340 0
STANCORP FINL GROUP INC COMMON 852891100 1454 65000 SH SOLE 0 65000 0
STARWOOD HOTELS&RESORTS PAIRED CTF 85590A203 5323 238570 SH SOLE 0 238570 0
STATE STREET BOSTON CORP COMMON 857477103 1614 24975 SH SOLE 0 24975 0
</TABLE>
<PAGE> 18
9/30/99
FORM 13F
REPORTING MANAGER: LUTHER KING CAPITAL MANAGEMENT
PAGE 16
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
STOLT COMEX SEAWAY ADR DEPOSITORY
RECEI 861567105 109 10000 SH SOLE 0 10000 0
STORAGE USA INC COMMON 861907103 949 34500 SH SOLE 0 34500 0
SUN MICROSYSTEMS INC COMMON 866810104 1395 15000 SH SOLE 0 15000 0
SUNGARD DATA SYSTEMS INC COMMON 867363103 10490 398680 SH SOLE 0 398680 0
SWIFT TRANSN CO COMMON 870756103 4223 214500 SH SOLE 0 214500 0
SYBRON CORPORATION COMMON 87114F106 58406 2173236 SH SOLE 0 2173236 0
SYSCO CORPORATION COMMON 871829107 8145 232300 SH SOLE 0 232300 0
TJ INTERNATIONAL INC COMMON 872534102 5176 206000 SH SOLE 0 206000 0
TACO CABANA INC COMMON 873425102 2617 270100 SH SOLE 0 270100 0
TALISMAN ENERGY INC COMMON 87425E103 299 10000 SH SOLE 0 10000 0
TANDY CORP COMMON 875382103 31491 609250 SH SOLE 0 609250 0
TEKELEC COMMON 879101103 2258 163500 SH SOLE 0 163500 0
TEVA PHARMACEUTICAL INDS DEPOSITORY
RECEI 881624209 15686 311775 SH SOLE 0 311775 0
TEXACO INC COMMON 881694103 11294 178918 SH SOLE 0 178918 0
TEXAS INDUSTRIES INC COMMON 882491103 1091 29483 SH SOLE 0 29483 0
TEXAS INSTRS INC COMMON 882508104 831 10100 SH SOLE 0 10100 0
TEXAS REGL BANCSHARES IN CL A VTG 882673106 8354 337550 SH SOLE 0 337550 0
TIFFANY & CO NEW COMMON 886547108 2110 35200 SH SOLE 0 35200 0
TITAN EXPL INC COMMON 888289105 131 26500 SH SOLE 0 26500 0
</TABLE>
<PAGE> 19
9/30/99
FORM 13F
REPORTING MANAGER: LUTHER KING CAPITAL MANAGEMENT
PAGE 17
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
TRACTOR SUPPLY CO COMMON 892356106 10228 538300 SH SOLE 0 538300 0
TRIBUNE 2% 5/15/29 CV PFD
$2.000 896047305 5562 47040 SH SOLE 0 47040 0
TUESDAY MORNING CORP COM NEW 899035505 2525 100000 SH SOLE 0 100000 0
TYCO INTL LTD NEW COMMON 902124106 81525 789585 SH SOLE 0 789585 0
TYLER TECHNOLOGIES INC COMMON 902252105 432 97300 SH SOLE 0 97300 0
UCAR INTL INC COMMON 90262K109 2566 112500 SH SOLE 0 112500 0
U S FOODSERVICE COMMON 90331R101 12213 678500 SH SOLE 0 678500 0
UTI ENERGY CORP COMMON 903387108 243 12500 SH SOLE 0 12500 0
UNION PACIFIC CORP COMMON 907818108 3728 77562 SH SOLE 0 77562 0
UNION PAC RES GROUP INC COMMON 907834105 458 28179 SH SOLE 0 28179 0
UNITED STATES FILTER COR COM NEW 911843209 731 23200 SH SOLE 0 23200 0
UROCOR INC COMMON 91727P105 48 11628 SH SOLE 0 11628 0
VARCO INTL INC COMMON 922126107 1895 155500 SH SOLE 0 155500 0
VASTAR RESOURCES LTD COMMON 922380100 1264 20200 SH SOLE 0 20200 0
VENATOR GROUP INC COMMON 922944103 10881 1270750 SH SOLE 0 1270750 0
VERITAS SOFTWARE CO COMMON 923436109 2126 28000 SH SOLE 0 28000 0
VINTAGE PETE INC COMMON 927460105 394 29200 SH SOLE 0 29200 0
VODAFONE AIRTOUCH PLC DEPOSITORY
RECEI 92857T107 7638 32128 SH SOLE 0 32128 0
WACHOVIA CORPORATION COMMON 929771103 246 3130 SH SOLE 0 3130 0
</TABLE>
<PAGE> 20
9/30/99
FORM 13F
REPORTING MANAGER: LUTHER KING CAPITAL MANAGEMENT
PAGE 18
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
WAL-MART STORES INC COMMON 931142103 22141 465518 SH SOLE 0 465518 0
WALGREEN CO COMMON 931422109 18954 746975 SH SOLE 0 746975 0
WARNER LAMBERT COMPANY COMMON 934488107 392 5900 SH SOLE 0 5900 0
WASTE MGMT INC DEL COMMON 94106L109 16551 859801 SH SOLE 0 859801 0
WEATHERFORD INTL INC COMMON 947074100 4293 134154 SH SOLE 0 134154 0
WELLS FARGO & CO NEW COMMON 949746101 73636 1858324 SH SOLE 0 1858324 0
WESTWOOD ONE INC COMMON 961815107 2031 45000 SH SOLE 0 45000 0
WHITE CAP INDS CORP COMMON 963505102 1398 94000 SH SOLE 0 94000 0
WILLAMETTE INDS INC COMMON 969133107 6704 155450 SH SOLE 0 155450 0
YOUNG BROADCASTING INC CL A 987434107 1467 28000 SH SOLE 0 28000 0
GLOBALSTAR TELECOMMUNICT COMMON G3930H104 1764 76700 SH SOLE 0 76700 0
KNIGHTSBRIDGE TANKERS LT ORD G5299G106 195 12200 SH SOLE 0 12200 0
PARTNERRE LTD COMMON G6852T105 615 17700 SH SOLE 0 17700 0
TRANSOCEAN OFFSHORE INC ORD G90076103 643 21000 SH SOLE 0 21000 0
TRITON ENERGY LTD ORD G90751101 141 10000 SH SOLE 0 10000 0
STOLT COMEX SEAWAY SA COMMON L8873E103 2598 229700 SH SOLE 0 229700 0
VOCALTEC COMMUNICATIONS ORD M97601104 1201 85000 SH SOLE 0 85000 0
-------- --------- --- --------- ---
4180183 122434304 0 122434304 0
======== ========= === ========= ===
</TABLE>
