SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 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: Northern Capital Management
Address: 8018 Excelsior Drive, Suite 300
Madison, WI 53717
Form 13F File Number: 28-1245
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: Stephen L. Hawk
Title: Chairman and Chief Executive Officer
Phone: (608) 831-8018
Signature, Place, and Date of Signing:
Stephen L. Hawk Madison, WI April 9, 1999
[Signature] [City, State] [Date]
Report Type (Check only one.):
[ X ] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
List of Other Managers Reporting for this Manager: NONE
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: NONE
Form 13F Information Table Entry Total: 100
Form 13F Information Table Value Total: $1,065,860
<PAGE>
<TABLE>
FORM 13F INFORMATION TABLE
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
VALUE SHARES/ INVESTMENT - - -VOTING AUTHORITY - - -
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT DISCRETION MNGR SOLE SHARED NONE
- - -------------------- -------------- --------- -------- --------- ---------- ---- --------- -------- --------
3 Com Corp. Common 885535104 331 14,200 SOLE 14,200
Abbott Lab. Common 002824100 21,414 457,445 SOLE 412,045 45,400
Alltel Corp. Common 020039103 222 3,556 SOLE 3,556
Ambac Fin. Grp. Common 023139108 18,939 350,715 SOLE 318,095 32,620
Amer. Home Prod. Common 026609107 2,360 36,162 SOLE 36,162
Amer. Int'l Grp. Common 026874107 11,904 98,687 SOLE 89,463 9,224
Ameritech Corp. Common 030954101 13,990 242,775 SOLE 205,175 37,600
Amgen, Inc. Common 031162100 23,828 318,240 SOLE 288,400 29,840
AMP, Inc. Common 031897101 417 7,800 SOLE 7,800
Anchor BanCorp. Common 032839102 308 20,000 SOLE 20,000
Anheuser Busch Co. Common 035229103 1,444 18,902 SOLE 18,902
Ascend Comm. Common 043491109 425 5,075 SOLE 5,075
AT&T Corp. Common 001957109 34,317 429,969 SOLE 391,288 38,681
AT&T Liberty Media Class A Common 001957208 24,984 475,042 SOLE 432,842 42,200
Automatic Data Proc Common 053015103 466 11,256 SOLE 11,256
Avery Dennison Common 053611109 11,442 198,990 SOLE 179,140 19,850
B J Services Common 055482103 356 15,200 SOLE 15,200
Banc One Corp. Common 059438101 1,159 21,053 SOLE 21,053
BankAmerica Corp. Common 06605F102 15,107 213,900 SOLE 190,750 23,150
Baxter Intl. Common 071813109 15,638 236,940 SOLE 212,665 24,275
Boeing Co. Common 097023105 10,493 308,630 SOLE 279,530 29,100
Borders Group Common 099709107 422 30,000 SOLE 30,000
BP Amoco ADS 055622104 211 2,087 SOLE 2,087
Bristol Myers Squib Common 110122108 45,908 713,825 SOLE 629,585 84,240
C V S Corp. Common 126650100 14,223 300,230 SOLE 269,380 30,850
Cendant Corp. Common 151313103 18,543 1,177,330 SOLE 1,062,955 114,375
Chase Manhattan Common 16161A108 13,608 167,350 SOLE 149,500 17,850
Citigroup Inc. Common 172967101 21,916 343,115 SOLE 307,440 35,675
Clorox Company Common 189054109 12,485 106,535 SOLE 95,785 10,750
Coca Cola Co. Common 191216100 18,931 308,445 SOLE 274,945 33,500
Colgate Palmolive Common 194162103 11,574 125,800 SOLE 109,250 16,550
Compaq Computer Common 204493100 10,705 337,155 SOLE 300,505 36,650
Computer Assoc. Common 204912109 720 20,237 SOLE 20,237
Computer Sciences Common 205363104 12,671 229,600 SOLE 204,075 25,525
Conagra, Inc. Common 205887102 651 25,390 SOLE 25,390
Corning, Inc. Common 219350105 772 12,865 SOLE 12,865
D S T Systems Common 233326107 1,354 22,550 SOLE 22,550
Dayton Hudson Corp. Common 239753106 39,121 587,180 SOLE 524,930 62,250
Dial Corp. Common 25247D101 1,783 51,875 SOLE 51,875
DuPont EI DeNemours Common 263534109 21,129 362,730 SOLE 325,730 37,000
Electronic Data Sys. Common 285661104 716 14,715 SOLE 14,715
EMC Corp. Common 268648102 21,990 172,130 SOLE 152,880 19,250
Enron Corp. Common 293561106 4,724 73,525 SOLE 73,525
Fannie Mae Common 313586109 15,982 230,789 SOLE 211,469 19,320
First Data Corp. Common 319963104 41,523 971,303 SOLE 870,797 100,506
Fiserv, Inc. Common 337738108 881 16,425 SOLE 16,425
General Electric Common 369604103 42,311 382,040 SOLE 341,090 40,950
Gillette Co. Common 375766102 24,344 409,572 SOLE 359,672 49,900
Heinz, H.J. Co. Common 423074103 630 13,300 SOLE 13,300
Hewlett Packard Common 428236103 211 3,115 SOLE 3,115
Home Depot Inc. Common 437076102 20,043 321,975 SOLE 287,725 34,250
Household Intl. Common 441815107 15,555 340,925 SOLE 304,825 36,100
Inacom Corp. Common 45323G109 78 10,000 SOLE 10,000
Intel Corp Common 458140100 29,151 244,710 SOLE 219,710 25,000
Intl. Business Mach. Common 459200101 922 5,195 SOLE 5,195
Intl. Game Tech. Common 459902102 836 57,150 SOLE 57,150
Johnson & Johnson Common 478160104 909 9,700 SOLE 9,700
Kroger Co. Common 501044101 14,208 237,300 SOLE 210,775 26,525
Lauder, Estee Co. Class A 518439104 888 9,400 SOLE 9,400
Lilly Eli & Co. Common 532457108 26,138 307,500 SOLE 271,875 35,625
Lucent Technologies Common 549463107 13,439 124,432 SOLE 106,682 17,750
M G I C Investment Common 552848103 470 13,409 SOLE 13,409
Marriott Intl. Common 571900109 542 16,120 SOLE 16,120
Marshall & Ilsley Common 571834100 463 8,350 SOLE 8,350
Masco Corp. Common 574599106 9,875 349,575 SOLE 314,200 35,375
MBNA Corporation Common 55262L100 17,188 719,912 SOLE 641,062 78,850
Mc Donalds Corp. Common 580135101 1,572 34,700 SOLE 34,700
MCI Worldcom, Inc. Common 552673105 16,555 186,932 SOLE 170,655 16,277
Media One Group Common 58440J104 2,121 33,400 SOLE 33,400
Medtronic, Inc. Common 585055106 15,545 216,650 SOLE 193,500 23,150
Merck & Co. Inc. Common 589331107 2,806 35,015 SOLE 28,665 6,350
Microsoft Corp. Common 594918104 36,704 409,525 SOLE 361,825 47,700
Mobil Corp. Common 607059102 1,012 11,500 SOLE 2,500 9,000
Monsanto Co. Common 611662107 1,128 24,550 SOLE 24,550
Nabisco Hldgs. Corp. Class A 629526104 897 21,570 SOLE 21,570
Noble Drilling Corp. Common 655042109 521 30,000 SOLE 30,000
Nortel Networks Common 665815106 34,010 547,443 SOLE 505,228 42,215
Oracle Corp. Common 68389X105 13,447 509,825 SOLE 454,000 55,825
Peoplesoft Common 712713106 351 23,990 SOLE 23,990
Pepsico, Inc. Common 713448108 12,813 326,979 SOLE 293,509 33,470
Pfizer, Inc. Common 717081103 25,597 184,485 SOLE 167,260 17,225
Pioneer Hi Bred Int. Common 723686101 437 11,625 SOLE 11,625
Precision Castparts Common 740189105 301 7,490 SOLE 7,490
Proctor & Gamble Co. Common 742718109 1,281 13,075 SOLE 13,075
Ralston Purina Co. Com Ral-Pur GP 751277302 15,221 570,325 SOLE 512,250 58,075
Royal Dutch Petro. NY REG GLD1.25 780257804 23,257 447,250 SOLE 411,750 35,500
Sara Lee Corp. Common 803111103 15,741 636,000 SOLE 580,800 55,200
SBC Comm. Inc. Common 78387G103 5,758 122,191 SOLE 122,191
Schering Plough Common 806605101 357 6,454 SOLE 6,454
Schlumberger Ltd. Common 806857108 3,364 55,900 SOLE 55,900
Sybron Corp. Common 87114F106 519 20,770 SOLE 20,770
Time Warner, Inc. Common 887315109 375 5,300 SOLE 5,300
Tyco Intl. Ltd. Common 902124106 14,289 199,150 SOLE 177,650 21,500
U.S. Industries Inc. Common 912080108 14,955 909,815 SOLE 793,578 116,237
Walgreen Co. Common 931422109 1,823 64,540 SOLE 64,540
Walmart Stores, Inc. Common 931142103 6,658 72,125 SOLE 65,675 6,450
Walt Disney Co. Common 254687106 487 15,650 SOLE 15,650
Warner-Lambert Co. Common 934488107 8,651 130,575 SOLE 111,375 19,200
Waste Management Common 94106K101 13,416 301,476 SOLE 270,026 31,450
Xerox Corp. Common 984121103 13,607 261,045 SOLE 236,155 24,890
</TABLE>
