UNITED STATES 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: Liberty Mutual Insurance Company
Address: 175 Berkeley Street
Boston, Massachusetts 02117
Form 13F File Number: 28-33
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: Kenneth J. Kozanda
Title: Attorney in Fact
Phone: (312) 368-7851
Signature, Place, and Date of Signing:
/s/ Kenneth J. Kozanda Chicago, Illinois May 13, 1999
Report Type (Check only one.):
[XX] 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).)
<PAGE>
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 224
Form 13F Information Table Value Total: $661,976
(thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 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 headings and list entries.]
NONE
<PAGE>
<TABLE>
FORM 13F INFORMATION TABLE
<CAPTION>
Column 1 Column 2: Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
Name of Issuer Title CUSIP Fair Market Shares or Investment Other Voting Authority
of Class Number Value Principal Discretion Managers (a) (b) (c)
(+000) Amount Sole Shared None
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
AT&T CORP Common 001957109 160 2,000 Sole 2,000
ABBOT LABS Common 002824100 206 4,400 Sole 4,400
A C NIELSEN CORP. Common 004833109 2,219 81,811 Sole 81,811
ADAPTEC INC Common 00651F108 43 1,900 Sole 1,900
AIR PRODS & CHEMS INC Common 009158106 23,870 696,946 Sole 696,946
ALLERGAN INC Common 018490102 92 1,050 Sole 1,050
ALLSTATE CORP. Common 020002101 93 2,500 Sole 2,500
ALUMINUM CO AMER Common 022249106 272 6,722 Sole 6,722
AMERICAN HOME PRODS Common 026609107 418 6,400 Sole 6,400
AMGEN INC Common 031162100 75 1,000 Sole 1,000
ANADARKO PETE CORP. Common 032511107 189 5,000 Sole 5,000
ARCHER DANIELS MIDLAND CO Common 039483102 28 1,937 Sole 1,937
ASTRA AB Spn ADR A 046298105 67 2,900 Sole 2,900
ATLANTIC RICHFIELD CO Common 048825103 1,564 21,392 Sole 21,392
AUTOMATIC DATA PROCESSING Common 053015103 32,886 794,824 Sole 794,824
AVERY DENNISON CORP Common 053611109 46 800 Sole 800
BANC ONE CORP Common 059438101 66 1,650 Sole 1,650
BANK ONE CORPORATION Common 06423A103 45 810 Sole 810
BANKAMERICA CORP Common 06605F102 230 3,253 Sole 3,253
BAXTER INTL INC Common 071813109 238 3,600 Sole 3,600
BELLSOUTH CORP Common 079860102 240 6,000 Sole 6,000
BIOMET INC Common 090613100 75 1,800 Sole 1,800
BOEING CO Common 097023105 27 800 Sole 800
BORDERS GROUP, INC. Common 099709107 112 8,000 Sole 8,000
BRISTOL-MYERS SQUIBB CO. Common 110122108 353 5,500 Sole 5,500
BRITISH TELECOM Spn ADR 111021408 320 1,950 Defined 1,950
BURLINGTON NORTHN SANTA FE Common 12189T104 268 8,150 Sole 8,150
CBS Common 12490K107 286 7,000 Sole 7,000
CABOT CORP Common 127055101 159 7,500 Sole 7,500
CARNIVAL CORP Class A 143658102 267 5,500 Sole 5,500
CASE CORP Common 14743R103 25 1,000 Sole 1,000
CATERPILLAR INC CO Common 149123101 46 1,000 Sole 1,000
CENTURY TEL ENTERPRISES Common 156686107 674 9,600 Sole 9,600
CHASE MANHATTAN CORP Common 16161A108 594 7,300 Sole 7,300
CHILECTRA S A Spn ADR 168884104 123 5,600 Defined 5,600
CIA TELECOM CHILE Spn ADR 204449300 61 2,600 Defined 2,600
CISCO SYS INC Common 17275R102 657 6,000 Sole 6,000
CINTAS CORP. Common 172908105 196 3,000 Sole 3,000
CITIGROUP INC. Common 172967101 287 4,500 Sole 4,500
COLUMBIA/HCA HEALTHCARE Common 197677107 25 1,300 Sole 1,300
COMPUTER ASSOC INTL INC Common 204912109 25 700 Sole 700
COMPUTER SCIENCES CORP Common 205363104 221 4,000 Sole 4,000
CONAGRA INC Common 205887102 243 9,506 Sole 9,506
COOPER TIRE & RUBR CO Common 216831107 31 1,700 Sole 1,700
COUNTRYWIDE CR INDS INC Common 222372104 240 6,400 Sole 6,400
CRESTLINE CAPITAL CORP. Common 226153104 2 104 Sole 104
DARDEN RESTAURANTS INC. Common 237194105 10,189 494,001 Sole 494,001
DELUXE CORP Common 248019101 4,149 142,467 Sole 142,467
DEVRY INC. Common 251893103 377 13,000 Sole 13,000
DIAMOND OFFSHORE DRILLING Common 25271C102 108 3,400 Sole 3,400
DONALDSON INC Common 257651109 144 8,000 Sole 8,000
DORCHESTER HUGOTON Common 258205202 101 10,000 Defined 10,000
DOVER CORP Common 260003108 36 1,100 Sole 1,100
DUKE ENERGY CORP Common 264399106 197 3,595 Sole 3,595
DUN & BRADSTREET CORP. Common 26483B106 8,744 245,433 Sole 245,433
E G & G INC Common 268457108 401 15,189 Sole 15,189
EMC CORP Common 268648102 639 5,000 Sole 5,000
ECHELON CORP Common 27874N105 212 21,150 Sole 21,150
EL PASO ELEC CO Common 283677854 217 28,404 Sole 28,404
EL PASO ENERGY CORP Common 283905107 105 3,200 Sole 3,200
ELECTRONIC DATA SYS Common 285661104 44 900 Sole 900
EMERSON ELECTRIC CO Common 291011104 1,860 35,130 Sole 35,130
ENRON CORP Common 293561106 122 1,900 Sole 1,900
ENTERGY CORP Common 29364G103 44 1,600 Sole 1,600
EXXON CORP Common 302290101 3,456 48,976 Sole 48,976
FEDERAL NATL MTG ASSN Common 313586109 48 700 Sole 700
FELCOR LODGING TR INC Common 31430F101 79 3,400 Sole 3,400
FIFTH THIRD BANCORP. Common 316773100 262 3,978 Sole 3,978
FIRST AMER CORP TENN Common 318900107 52 1,400 Sole 1,400
FIRST DATA CORP. Common 319963104 56 1,300 Sole 1,300
FIRST UN CORP Common 337358105 150 2,800 Sole 2,800
FISERV INCORP Common 337738108 241 4,500 Sole 4,500
FLEET FINANCIAL GROUP INC. Common 338915101 218 5,800 Sole 5,800
FOMENICO ECONOMICO MEX Spn ADR 344419106 84 2,700 Defined 2,700
FORD MTR CO Common 345370100 181 3,200 Sole 3,200
FORTUNE BRANDS INC Common 349631101 142 3,700 Sole 3,700
GC COS INC Common 36155Q109 138 4,384 Sole 4,384
GPU INC Common 36225X100 187 5,000 Sole 5,000
GTE CORP Common 362320103 218 3,600 Sole 3,600
GANNETT CO INC Common 364730101 8,906 141,370 Sole 141,370
GENERAL ELEC CO Common 369604103 101,911 921,232 Sole 921,232
GENERAL MILLS INC Common 370334104 36,202 479,101 Sole 479,101
GENUINE PARTS CO Common 372460105 447 15,512 Sole 15,512
GOODYEAR TIRE & RUBR CO Common 382550101 100 2,000 Sole 2,000
GRAINGER W W INC Common 384802104 9,282 215,544 Sole 215,544
GREAT LAKES CHEM CORP Common 390568103 32 875 Sole 875
GRUPO TELEVISA S A Spn GDR 40049J206 88 2,800 Defined 2,800
GUANGSHEN RAILWAY Spn ADR 40065W107 73 13,000 Defined 13,000
GULF CANADA RESOURCES INC. Common 40218L305 25,546 9,506,827 Sole 9,506,827
HSB GROUP INC. Common 40428N109 27,651 744,800 Sole 744,800
H & R BLOCK Common 093671105 190 4,000 Defined 4,000
HANSON PLC ADR 411352404 58 1,325 Sole 1,325
HARCOURT GENERAL Common 41163G101 393 8,860 Sole 8,860
HARTFORD FINL SVCS GROUP Common 416515104 170 3,000 Sole 3,000
H. J. HEINZ Common 423074103 1,422 30,015 Sole 30,015
HEWLETT-PACKARD Common 428236103 9,193 135,564 Sole 135,564
HOST MARRIOTT SERVICES Common 440914109 30 4,494 Sole 4,494
HOST MARRIOT CORP Common 44107P104 250 22,472 Sole 22,472
HOUSTON INDS INC Common 442161105 176 6,200 Sole 6,200
IMS HEALTH INC. Common 449934108 16,260 490,866 Sole 490,866
IMPERIAL CHEM INDS Common 452704505 36 1,000 Sole 1,000
INSURANCE SERVICES OFFICE Common 45806@109 8,938 223,447 Sole 223,447
INTEL CORP Common 458140100 416 3,500 Sole 3,500
INTERNATIONAL BUS MACHS Common 459200101 425 2,400 Sole 2,400
INTERPUBLIC GROUP COS INC Common 460690100 245 3,150 Sole 3,150
JDN RLTY CORP Common 465917102 149 7,500 Sole 7,500
JOHNSON & JOHNSON Common 478160104 83,670 894,865 Sole 894,865
KEANE INC. Common 486665102 128 6,000 Sole 6,000
KOREA ELEC POWER CORP Spn ADR 500631106 4,060 320,000 Defined 320,000
KIMBERLY CLARK CORP Common 494368103 211 4,400 Sole 4,400
KIMBERLY CLARK MEX Spn ADR 494386204 93 5,000 Defined 5,000
LIBERTY ALL-STAR EQUITY FUN Common 530158104 93,066 7,263,996 Sole 7,263,996
ELI LILLY & CO Common 532457108 461 5,428 Sole 5,428
ELI LILLY & CO Common 532457108 407 4,800 Defined 4,800
LOCKHEED MARTIN CORP. Common 539830109 14 375 Sole 375
LOEWS CORP. Common 540424108 131 1,750 Sole 1,750
MBIA, INC. Common 55262C100 276 4,750 Sole 4,750
MCI WORLDCOM INC Common 55268B106 310 3,500 Sole 3,500
MGIC INV CORP WIS Common 552848103 32 900 Sole 900
MARSH & MCLENNAN COS INC Common 571748102 89 1,200 Sole 1,200
MARRIOTT INTL INC Class A 571903202 1,448 43,058 Sole 43,058
MASCO CORP Common 574599106 170 6,000 Sole 6,000
MATAV RT Spn ADR 559776109 80 3,000 Defined 3,000
MAYTAG CORP Common 578592107 163 2,700 Sole 2,700
MCDONALDS Common 580135101 51,857 1,144,442 Sole 1,144,442
MCKESSON HBOC, INC. Common 58155Q103 172 2,600 Sole 2,600
MEDIAONE GROUP INC Common 58440J104 225 3,542 Sole 3,542
MEDTRONIC INC Common 585055106 288 4,000 Sole 4,000
MELLON BK CORP Common 585509102 267 3,800 Sole 3,800
MERCANTILE BANKSHARES CORP Common 587405101 278 7,500 Sole 7,500
MERCK & CO INC Common 589331107 50,817 634,218 Sole 634,218
MERRILL LYNCH & CO INC Common 590188108 266 3,000 Sole 3,000
MICROSOFT CORP. Common 594918104 269 3,000 Sole 3,000
MOBIL CORP Common 607059102 590 6,700 Sole 6,700
MORGAN (JP) & CO Common 616880100 3,953 32,037 Sole 32,037
MORGAN STANLEY DEAN WITTER Common 617446448 60 600 Sole 600
MOTOROLA INC Common 620076109 322 4,401 Sole 4,401
MYLAN LABS INC Common 628530107 27 1,000 Sole 1,000
NABISCO HOLDING CORP Common 629526104 83 2,000 Defined 2,000
NATIONAL CITY CORP. Common 635405103 40 600 Sole 600
NATIONWIDE FINL SVCS INC Common 638612101 134 3,200 Sole 3,200
NEWELL CO Common 651192106 188 4,000 Sole 4,000
NEWS CORP LTD Common 652487703 44 1,500 Sole 1,500
NIELSEN MEDIA RES INC Common 653929307 2,020 81,811 Sole 81,811
NICOR INC Common 654086107 226 6,300 Sole 6,300
NOKIA CORP Spn ADR 654902204 312 2,000 Sole 2,000
NOKIA CORP Spn ADR 654902204 327 2,095 Defined 2,095
NORFOLK SOUTHERN CORP Spn ADR 655844108 42 1,600 Sole 1,600
NORSK HYDRO A S Common 656531605 44 1,100 Sole 1,100
NUCOR CORP Common 670346105 35 800 Sole 800
OCTEL CORP Common 675727101 3 218 Sole 218
OLD REP INTL CORP Common 680223104 43 2,350 Sole 2,350
ORACLE SYS CORP Common 68389X105 40 1,400 Sole 1,400
PNC BK CORP Common 693475105 178 3,200 Sole 3,200
PACIFICORP Common 695114108 85 4,900 Sole 4,900
PANAMERICAN BEVERAGES INC Class A P74823108 92 5,220 Defined 5,220
PAPA JOHNS INT'L INC. Common 698813102 154 3,500 Sole 3,500
PENTAIR INC Common 709631105 203 6,000 Sole 6,000
PHELPS DODGE CORP Common 717265102 32 650 Sole 650
PHILIPS MORRIS CO INC Common 718154107 274 7,800 Sole 7,800
PHILIPS ELECTR NV NY Shs 718337504 0 3,500 Sole 3,500
PINNACLE WEST CAP CORP Common 723484101 91 2,500 Sole 2,500
PITNEY BOWES INC Common 724479100 268 4,200 Sole 4,200
PITTWAY CORP. Common 725790208 239 9,000 Sole 9,000
PRECISION CASTPARTS CORP Common 740189105 28 700 Sole 700
R. H. DONNELLEY CORP Common 74955W307 758 49,087 Sole 49,087
RAYTHEON CO Class A 755111309 121 2,100 Sole 2,100
RAYTHEON CO Class B 755111408 203 3,462 Sole 3,462
RELIASTAR FINL CORP Common 75952U103 196 4,600 Sole 4,600
REPSOL S A Spn ADR 76026T205 41 800 Sole 800
REUTERS GROUP PLC Spn ADR 76132M102 353 4,062 Defined 4,062
REYNOLDS METALS CO Common 761763101 121 2,500 Sole 2,500
RUSSELL CORP Common 782352108 30 1,500 Sole 1,500
SAFECO CORP Common 786429100 61 1,500 Sole 1,500
SAFEWAY INC Common 786514208 103 2,000 Defined 2,000
SANDY SPRING BANCORP Common 800363103 698 25,604 Sole 25,604
SCANA CORP Common 805898103 67 3,100 Sole 3,100
SEARS ROEBUCK & CO Common 812387108 298 6,600 Sole 6,600
SHANDONG HUANENG Spn ADR 819419102 225 60,000 Defined 60,000
SHAW INDS INC Common 820286102 50 2,700 Sole 2,700
SHERWIN WILLIAMS CO Common 824348106 45 1,600 Sole 1,600
SODEXHO MARRIOTT SERVICES Common 833793102 119 5,381 Sole 5,381
SOUTHERN CO Common 842587107 35 1,500 Sole 1,500
SOUTHWEST AIRLS CO Common 844741108 97 3,200 Sole 3,200
SPRINT CORP Common 852061100 294 3,000 Sole 3,000
STAFF LEASING INC Common 852381102 2,862 200,000 Sole 200,000
STMICROELECTRONICS NV Common 861012102 1,086 11,186 Sole 11,186
SUMMIT BANCORP Common 866005101 199 5,100 Sole 5,100
SUN MICROSYSTEMS INC Common 866810104 688 5,500 Sole 5,500
SYBRON INT'L CORP - WISC Common 87114F106 300 12,000 Sole 12,000
TCS ENTERPRISES Common 872339106 3 5,000 Sole 5,000
TJX COS INC Common 872540109 170 5,000 Sole 5,000
TELE-COMMUNICATIONS GRP A Common 87924V507 161 3,000 Sole 3,000
TELE CENTRO SUL Spn ADR 879239101 28 600 Defined 600
TELEBRAS Spn ADR pref 879287308 129 1,600 Defined 1,600
TELEFONICA DE ARGENTINA Spn ADR 879378206 54 1,800 Defined 1,800
TELEFONICA DE PERU Spn ADR 879384105 57 4,500 Defined 4,500
TELEFONOS DE MEXICO S A Spn ADR rep ord 879403780 46 700 Sole 700
TELEFONOS DE MEXICO S A Spn ADR rep ord 879403780 26 400 Defined 400
TELESP Spn ADR 87952K100 27 1,300 Defined 1,300
TELESP CELLULAR Part Spn ADR 87952L108 77 3,700 Defined 3,700
TELESUDESTE CELLULAR PART Part ADR 879252104 28 1,400 Defined 1,400
TENET HEALTHCARE CORP. Common 88033G100 110 5,800 Sole 5,800
TEXACO INC Common 881694103 114 2,000 Sole 2,000
TORCHMARK CORP Common 891027104 38 1,200 Sole 1,200
TOSCO CORP Common 891490302 206 8,300 Sole 8,300
TOYS-R-US INC Common 892335100 26 1,400 Sole 1,400
TYSON FOODS INC CL A Common 902494103 43 2,100 Sole 2,100
U S FOOD SERVICE Common 90331R101 233 5,000 Sole 5,000
USX - U S STL Common 90337T101 94 4,000 Sole 4,000
UNIFI INC Common 904677101 28 2,200 Sole 2,200
UNICOM CORP. Common 904911104 168 4,600 Sole 4,600
UTILICORP UTD INC Common 918005109 64 2,800 Sole 2,800
V F CORP Common 918204108 233 4,900 Sole 4,900
VINA CONCHA Y TORO Spn ADR 927191106 118 4,000 Defined 4,000
WACHOVIA CORP Common 929771103 41 500 Sole 500
WADDELL & REED FINL INC Class A 930059100 1 68 Sole 68
WADDELL & REED FINL INC Class B 930059209 6 293 Sole 293
WASHINGTON MUT INC. Common 939322103 113 2,760 Sole 2,760
WHIRLPOOL CORP Common 963320106 33 600 Sole 600
WILLIAMS CO INC Common 969457100 664 16,800 Sole 16,800
XEROX CORP Common 984121103 122 2,350 Sole 2,350
YPF SOCIEDAD ANONIMA Spn ADR Cl D 984245100 54 1,700 Sole 1,700
YORK INTERNATIONAL CORP. Common 986670107 32 900 Sole 900
</TABLE>
