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 {X}; Amendment Number:1
This Amendment (Check only one.): {X} is a restatement
{ } adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Investment Counselors of Maryland
Address: 803 Cathedral Street
Baltimore, Maryland 21201-5297
13F File Number:
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 D. McDorman, Jr.
Title: Principal
Phone: 410-539-3838
Signature, Place, and Date of Signing:
Robert D. McDorman, Jr. Baltimore, Maryland March 30, 1999
Report Type (Check only one.):
{x} 13F Holdings Report.
{ } 13F Notice.
{ } 13F Combination Report.
List of other managers reporting for this Manager:0
I am signing this report as required by the Securities Exchange Act of 1934.
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 393
Form 13F Information Table Value Total: 1823304273
List of other Included Managers:0
None
<PAGE>
<TABLE>
<C>
<C>
FORM 13F INFORMATION TABLE
Investment Discretion
Security
Title of
Class
CUSIP
Market Value
Quantity
Sole
Share
Other
AARON RENTS INC
COM
002535201
9076563
580900
x
ABBOTT LABS
COM
002824100
222359
4750
x
ACMAT CLASS A
COM
004616207
2850000
190000
x
ACX TECHNOLOGIES
COM
005123104
8293688
631900
x
ADVANCED COMM SYSTEMS INC
COM
00750x109
6568125
565000
x
AEGON N V ORD AMER REG
COM
007924103
1209897
13462
x
AGCO CORP
COM
001084102
65625
10000
x
AK STEEL HOLDING CO
COM
001547108
4083813
181000
x
AKZO NOBEL N V
COM
010199305
1085284
29332
x
148000
4000
x
ALASKA AIR GROUP INC
COM
011659109
285000
6000
x
ALLEGHENY ENERGY INC
COM
017361106
4217025
142950
x
ALLEGHENY TELEDYNE INC
COM
017415100
2508745
132475
x
ALLERGAN INC
COM
018490102
5913988
67300
x
ALLIED DEVICES CORP
COM
019120104
13500
12000
x
ALLIED ZURICH PLC ADR
COM
01959q101
962360
35676
x
AMERICAN BUSINESS PRODUCTS
COM
024763104
7005600
500400
x
AMERICAN EXPRESS CO
COM
025816109
236442
2008
x
AMERICAN GENERAL CORP
COM
026351106
370971
5262
x
81075
1150
x
AMERICAN HOME PRODUCTS
COM
026609107
5363550
82200
x
208800
3200
x
AMERICAN INTL GROUP
COM
026874107
5852966
48522
x
AMETEK INC
COM
031100100
9323469
510875
x
AMP INC
COM
031897101
6130779
114594
x
AMSOUTH BANCORP
COM
032165102
549185
12070
x
ANALOGIC CORP
COM
032657207
4130363
125400
x
APACHE CORP
COM
037411105
16131384
618950
x
APPLIED EXTRUSION TECH
COM
038196101
114563
23500
x
APPLIED PWR INC CL A
COM
038225108
6104000
224000
x
ARAMEX INT'L LTD
COM
G04450105
1739063
175000
x
ARNOLD INDUSTRIES INC
COM
042595108
5219638
350900
x
ASCEND COMMUNICATIONS
COM
043491109
2876758
34375
x
ASCENT ENTMT GROUP INC
COM
043628106
3087831
282316
x
ASSOCIATED BANC-CORP
COM
045487105
4263656
133500
x
ASSOCIATES FIRST CAPITAL CORP
CL A
COM
046008108
2403044
53401
x
ASTEC INDUSTRIES INC
COM
046224101
13961675
452200
x
AT&T CORP
COM
001957109
5094432
63830
x
159625
2000
x
ATLANTIC RICHFIELD CO
COM
048825103
7735894
105790
x
AUTODESK INC
COM
052769106
13796264
341175
x
AVISTA CORP
COM
05379b107
3098875
190700
x
AVONDALE INDS INC
COM
054350103
12791200
433600
x
BAKER HUGHES INC
COM
057224107
17188938
707000
x
BALTIMORE GAS & ELECTRIC
COM
059165100
487733
19221
x
BANCTEC INC
COM
059784108
7178188
583000
x
BANK NEW YORK INC
COM
064057102
217063
6040
x
BANK ONE CORP
COM
06423a103
3821448
69402
x
BANKAMERICA CORP (NEW)
COM
06605F102
13079256
185193
x
239701
3394
x
BANTA CORP
COM
066821109
2313250
121750
x
BE AEROSPACE INC
COM
073302101
4366000
296000
x
BECKMAN COULTER INC
COM
075811109
7474931
168925
x
BELCO OIL & GAS CORP
COM
077410108
2764648
465625
x
BELDEN INC
COM
077459105
2559375
150000
x
BELL & HOWELL
COM
077852101
13864813
473000
x
BELL ATLANTIC CORP
COM
077853109
1184471
22916
x
124050
2400
x
BENCHMARK ELECTRONICS INC
COM
08160h101
282000
9400
x
BERKSHIRE HATHAWAY
COM
10382K102
285600
4
x
BERSHIRE HATHAWAY CLASS B
COM
084670207
836956
356
x
246855
105
x
BESTFOODS
COM
08658U101
150400
3200
x
188000
4000
x
BIO RAD LABS INC CL A
COM
090572207
7322400
361600
x
BOEING CO
COM
097023105
871080
25620
x
BON-TON STORES INC
COM
09776j101
2492750
338000
x
BORG WARNER AUTOMOTIVE
COM
099724106
3649289
76325
x
BOWNE & CO INC
COM
103043105
8052688
689000
x
BP AMOCO PLC ADR
COM
055622104
178164
1764
x
133623
1323
x
BRADLEY REAL ESTATE
COM
104580105
4172025
233400
x
BRADY CORP CLASS A
COM
104674106
2677906
127900
x
BRISTOL MYERS SQUIBB
COM
110122108
490043
7642
x
BRITISH AMERICAN TOBACCO ADR
COM
110448107
619268
34644
x
BURLINGTON COAT FACTORY
COM
121579106
5667025
482300
x
BURLINGTON NORTHERN SANTA FE
COM
12189T104
2797169
85085
x
BUSH INDUSTRIES INC
COM
123164105
2979625
242000
x
C&D TECHNOLOGIES INC
COM
124661109
12477300
501600
x
CAMDEN PROPERITES
COM
133131102
4930200
199200
x
CANNONDALE CORP
COM
137798104
2596250
310000
x
CAPITAL RE CORP
COM
140432105
5698538
330350
x
CAROLINA PWR & LT CO
COM
144141108
407316
10772
x
CARPENTER TECHNOLOGY
COM
144285103
6108281
235500
x
CB RICHARD ELLIS SERVICES
COM
12489l108
3931950
238300
x
CBL & ASSOCIATES
COM
124830100
7161000
308000
x
CENTEX CONSTRUCTION PRODS
COM
15231r109
10600406
304500
x
CENTEX CORP
COM
152312104
5006250
150000
x
CENTRAL & SO WEST CORP
COM
152357109
234375
10000
x
CHASE MANHATTAN
COM
16161A108
7913719
97250
x
CHEVRON CORPORATION
COM
166751107
511200
5760
x
CHITTENDEN CORP
COM
170228100
5609713
210200
x
CHUBB CORP
COM
171232101
9271908
158325
x
CINCINNATI FINANCIAL CORP
COM
172062101
216876
5952
x
CINERGY CORP
COM
172474108
443438
16125
x
CIRCUIT CITY STORE INC CIRCT CITY
GRP
COM
172737108
1057425
13800
x
CITIGROUP
COM
173034109
4090747
64043
x
CLAIRE'S STORES INC
COM
179584107
8013250
266000
x
CLARCOR INC
COM
179895107
7600491
445450
x
CMAC INVESTMENT CORP
COM
125662106
4890600
125400
x
CMI CORP CL A
COM
125761304
5263750
842200
x
CMS ENERGY CLASS G
COM
125896209
5230440
250560
x
COACHMEN INDUSTRIES INC
COM
189873102
4813400
234800
x
COCA COLA CO
COM
191216100
1512894
24650
x
COHU INC
COM
192576106
4036200
173600
x
COLONIAL BANCGROUP INC
COM
195493309
8443800
703650
x
COLUMBIA/HCA HEALTHCARE
COM
197677107
213994
11300
x
COMAIR HOLDINGS INC
COM
199789108
9048375
383000
x
COMERICA INC
COM
200340107
16627075
266300
x
COMPUTER HORIZONS CORP
COM
205908106
4068750
372000
x
COMSAT CORP
COM
20564d107
10073144
348100
x
CONE MILLS CORP
COM
206814105
370500
76000
x
CONSOLIDATED EDISON INC
COM
209115104
466719
10300
x
CONSOLIDATED NAT GAS
COM
209615103
1332090
27360
x
CONSOLIDATED STORES CORP
COM
210149100
14352969
473500
x
CORNING INC
COM
219350105
275700
4595
x
CORPORATE OFFICE PROPERTIES
TRUST INC
COM
22002t108
1287500
200000
x
CSS INDUSTRIES INC
COM
125906107
9278250
417000
x
DAIMLER CHRYSLER
COM
D1668R123
2310244
26922
x
DALLAS SEMICONDUCTOR CORP
COM
235204104
5843963
151300
x
DEERE & CO
COM
244199105
386250
10000
x
DELTA AIR LINES
COM
247361108
3805125
54750
x
DENTSPLY INT'L INC
COM
249030107
8097975
348300
x
DEXTER CORP
COM
252165105
10600538
336525
x
DII GROUP INC
COM
232949107
15525900
530800
x
DILLARDS INC
COM
254067101
9595556
378150
x
DONNELLY CORP CL A
COM
257870105
5348438
407500
x
DONNELLY RH CORP
COM
74955w307
6681350
432800
x
DORSEY TRAILERS INC
COM
258440106
361075
222200
x
DOW CHEM CO
COM
260543103
959831
10300
x
139781
1500
x
DPL INC
COM
233293109
278438
16875
x
DU PONT E I DE NEMOURS
COM
263534109
1855097
31950
x
DURA AUTOMOTIVE SYSTEMS INC
COM
265903104
2691664
95280
x
EASTMAN KODAK CO
COM
277461109
142250
2227
x
104436
1635
x
EDISON INTL
COM
281020107
5075225
228100
x
EDWARDS AG INC
COM
281760108
833531
25500
x
ELF AQUITAINE SPONSORED ADR
COM
286269105
1178642
17510
x
EMERSON ELECTRIC CO
COM
291011104
432341
8167
x
ENSCO INT'L INC
COM
26874q100
5628525
422800
x
EQUITABLE RESOURCES INC
COM
294549100
12212471
468584
x
175922
6750
x
EQUITY ONE INC
COM
294752100
2780000
320000
x
ESSEF CORP
COM
269145108
5080233
333130
x
ETEC SYSTEMS INC
COM
26922c103
3511894
119300
x
EXXON CORP
COM
302290101
2953464
41856
x
F M C CORP
COM
302491303
2049063
41500
x
FEDERAL HOME LN MTG CP
COM
313400301
622414
10860
x
FEDERAL NATL MTG ASSN
COM
313586109
880860
12720
x
FIBERMARK INC
COM
315646109
5888531
498500
x
FINLAY ENTERPRISES INC
COM
317884203
4541250
420000
x
FIRST COMMONWEALTH FIN'L CORP
COM
319829107
1147500
54000
x
FIRST HEALTH GROUP
COM
320960107
5317089
331025
x
FIRST INDUSTRIAL RLTY
COM
32054k103
2616369
109300
x
FIRST UNION CORP
COM
337358105
19875971
371948
x
FIRST VA BANKS INC
COM
337477103
266267
5828
x
FORD MTR CO
COM
345370100
14444599
254811
x
FORT JAMES
COM
347471104
5201186
164140
x
FORTUNE BRANDS INC
COM
349631101
429275
11150
x
FPL GROUP INC
COM
302571104
1704000
32000
x
FTI CONSULTING INC
COM
302941109
1095375
381000
x
FURON CO
COM
361106107
7410875
587000
x
GABLES RESIDENTIAL
COM
362418105
8908819
406100
x
GALEY & LORD INC
COM
36352k103
2649188
597000
x
GALLAHER GROUP PLC SPONSORED
ADR
COM
363595109
252625
10750
x
GARDEN FRESH RESTAURANT CORP
COM
365235100
2208750
155000
x
GENCORP INC
COM
368682100
5735250
318625
x
GENERAL ELECTRIC CO
COM
369604103
6053400
54720
x
GENERAL MOTORS CORP
COM
370442105
1816734
20882
x
GEORGIA GULF CORP
COM
373200203
5801838
518600
x
GILLETTE CO
COM
375766102
271035
4560
x
GPU INC
COM
36225x100
317156
8500
x
GRADALL INDUSTRIES INC
COM
38411p107
7189000
553000
x
GRANITE CONSTRUCTION INC
COM
387328107
17133875
733000
x
GRIFFON CORP
COM
398433102
7569375
1101000
x
GSI LUMONICS
COM
36229u102
1441589
311695
x
GTE CORP
COM
362320103
584067
9654
x
GUEST SUPPLY INC
COM
401630108
4121250
471000
x
GUILFORD MILLS INC
COM
401794102
6836288
781290
x
HARMAN INT'L
COM
413086109
4498200
122400
x
HARNISCHFEGER INDUSTRIES INC
COM
413345109
197925
34800
x
HARTFORD FINL SVCS
COM
416515104
1573706
27700
x
HEALTHCARE RLTY TR
COM
421946104
2888000
152000
x
HEWLETT PACKARD CO
COM
428236103
11991623
176835
x
HOLLINGER INT'L INC
COM
435569108
3340444
246300
x
HOLOPHANE CORP
COM
43645B106
5720000
260000
x
HONEYWELL INC
COM
438506107
343734
4534
x
HORIZON GROUP PROPERTIES
COM
44041u102
98219
22450
x
HUMANA INC
COM
444859102
5024925
291300
x
HUNT CORP
COM
445591100
4216625
427000
x
HUSSMAN INTERNATIONAL INC
COM
448110106
5311734
361650
x
HUTCHINSON TECHNOLOGIES INC
COM
448407106
2838238
114100
x
IBP INC
COM
449223106
428375
23000
x
IDEX CORP
COM
45167r104
4579018
194335
x
INACOM CORP
COM
45323g109
2472250
319000
x
INTEGRATED HEALTH SVCS
COM
45812c106
2937000
534000
x
INTEL CORP
COM
458140100
3817671
32115
x
INTERMET CORP
COM
45881k104
4380313
327500
x
INTERNATIONAL BUS MACH
COM
459200101
15970934
90104
x
212700
1200
x
INTL PAPER CO
COM
460146103
283838
6728
x
135000
3200
x
JEFFERSON PILOT CORP
COM
475070108
691050
10200
x
JOHNSON & JOHNSON
COM
478160104
1243550
13300
x
JONES INTERCABLE INC CLASS A
COM
480206200
6357325
161200
x
JUNO LIGHTING INC
COM
482047107
12295750
548000
x
K MART CORP
COM
482584109
1081346
64318
x
47075
2800
x
KENNAMETAL INC
COM
489170100
7291022
413675
x
KN ENERGY INC
COM
482620101
12017388
602753
x
112148
5625
x
KONINKLIJKE PHILIPS ELECTRONICS
NV
COM
500472105
21610991
262150
x
LANCASTER COLONY CORP
COM
513847103
4740581
178050
x
LANDAMERICA FINANCIAL GROUP INC
COM
514936103
3973000
137000
x
LASALLE HOTEL PROPERTIES
COM
517942108
4432125
334500
x
LEAR CORP
COM
521865105
7368930
172625
x
LECHTERS CORP
COM
523238103
1153594
535000
x
LIBERTY PPTY TR SH BEN INT
COM
531172104
11834244
570325
x
LILLY ELI & CO
COM
532457108
814800
9600
x
LINCOLN NATL CORP
COM
534187109
138425
1400
x
296625
3000
x
LIZ CLAIBORNE
COM
539320101
6503468
199340
x
LNR PROPERTY CORP
COM
501940100
4232425
214300
x
LOCKHEED MARTIN CORP
COM
539830109
2497314
66154
x
LONG BEACH FINANCIAL CORP
COM
542446109
1251250
130000
x
LUCENT TECHNOLOGIES
COM
549463107
299808
2776
x
139968
1296
x
LUNAR
COM
550362107
1848750
290000
x
M D C HLDGS INC
COM
552676108
13181875
917000
x
MACK-CALI REALTY CORP
COM
554489104
5460813
185900
x
MALLINCKRODT INC
COM
561232109
2942063
110500
x
MAPLE LIMITED PARTNERSHIP
COM
565108107
0
25000
x
MARSHALL INDUSTRIES
COM
572393106
3267000
242000
x
MARTIN MARIETTA MATERIALS
COM
573284106
22568219
395500
x
MATTEL INC
COM
577081102
9018273
361635
x
MAY DEPT STORES CO
COM
577778103
939117
24003
x
MCI WORLDCOM INC
COM
55268B106
6473653
73097
x
MEAD CORP
COM
582834107
4188150
136200
x
MEDALLION FINANCIAL
COM
583928106
5660488
375800
x
MEDICAL ASSURANCE INC
COM
58449U100
5330626
190380
x
MERCANTILE BANKSHARES
COM
587405101
6635543
179339
x
MERCK & CO INC
COM
589331107
4893875
61078
x
MERIDIAN RESOURCE CORP
COM
58977q109
1890000
560000
x
METHODE ELECTRONICS CL A
COM
591520200
6157966
553525
x
MICROSEMI CORP
COM
595137100
2216109
278100
x
MICROSOFT CORP
COM
594918104
2151000
24000
x
MID-ATLANTIC RLTY TR SH BEN INT
COM
595232109
6148791
599882
x
MILACRON INC
COM
598709103
2424319
153925
x
MILLS CORP
COM
601148109
5567800
310400
x
MOBIL CORP
COM
607059102
3071728
34906
x
MONSANTO CO
COM
611662107
383578
8350
x
367500
8000
x
MORGAN J P & CO INC
COM
616880100
363956
2950
x
MORGAN STAN DEAN WITTR CO
COM
617446448
13118396
131266
x
MOTOROLA INC
COM
620076109
410200
5600
x
NATIONAL CITY CORP
COM
635405103
4013564
60468
x
199125
3000
x
NATIONAL COMPUTER SYS
COM
635519101
11319000
462000
x
NEWPARK RESOURCES INC
COM
651718504
5328750
735000
x
NOKIA CORP SPONSORED ADR
COM
654902204
9554795
61347
x
NORFOLK SOUTHERN CORP
COM
655844108
3130976
118710
x
213638
8100
x
NORSTAN INC
COM
656535101
3237500
350000
x
NORTHWEST PIPE CO
COM
667746101
4653000
282000
x
NUI CORP
COM
629430109
3450000
160000
x
NVR INC
COM
62944T105
5265625
125000
x
OCEANEERING INTL INC
COM
675232102
9471275
626200
x
OFFSHORE LOGISTICS INC
COM
676255102
3241050
278800
x
OMEGA HEALTHCARE INVS
COM
681936100
7851254
342289
x
OMEGA WORLDWIDE INC
COM
68210B108
298009
79469
x
PACIFIC GULF PPTYS INC
COM
694396102
5198400
288800
x
PAN PACIFIC RETAIL PPTYS INC
COM
69806l104
3416875
192500
x
PARKER HANNIFIN CORP
COM
701094104
10694871
312259
x
154125
4500
x
PAYLESS SHOESOURCE INC
COM
704379106
5542242
119188
x
PENN VA CORP
COM
707882106
7622125
434000
x
PENNEY J C INC
COM
708160106
1607850
39700
x
PENTAIR INC
COM
709631105
4606875
136500
x
PHELPS DODGE CORP
COM
717265102
1132750
23000
x
PHILIP MORRIS COS INC
COM
718154107
715890
20345
x
570038
16200
x
PHYSICIAN RELIANCE NETWORK
COM
71940g108
3867500
455000
x
PINNACLE WEST CAPITAL CORP
COM
723484101
5037938
138500
x
PIONEER STD ELECTRS
COM
723877106
4902188
747000
x
PITNEY BOWES INC
COM
724479100
2524245
39596
x
510000
8000
x
PNC BK CORP
COM
693475105
7492603
134850
x
POTLATCH CORP
COM
737628107
1483069
43700
x
PPG INDS INC
COM
693506107
574000
11200
x
205000
4000
x
PRAXAIR INC
COM
74005p104
353413
9800
x
PRENTISS PROPERTIES TRUST
COM
740706106
3311250
176600
x
PRIME RETAIL INC
COM
741570105
5005000
572000
x
PRISON REALTY CORP
COM
74264N105
3248606
186300
x
PROCTER & GAMBLE CO
COM
742718109
1249683
12760
x
PROLOGIS TRUST
COM
743410102
5736720
279840
x
PROSPERITY BANCSHARES INC
COM
743606105
2695000
220000
x
PROTECTIVE LIFE CORP
COM
743674103
404505
10680
x
PROVIDIAN FINL CORP
COM
74406a102
10688150
97165
x
PUBLIC STORAGE INC
COM
74460d109
3470000
138800
x
PUBLIC SVC CO N C INC
COM
744516105
8853000
312000
x
PXRE CORP
COM
693674103
5445000
302500
x
QUAKER CHEMICAL
COM
747316107
3319375
235000
x
QUANEX CORP
COM
747620102
5285500
341000
x
QUESTAR CORP
COM
748356102
5862069
346100
x
QUIXOTE CORP
COM
749056107
5101688
448500
x
QUORUM HEALTH GROUP INC
COM
749084109
4831500
483150
x
RAYCHEM CORP
COM
754603108
6632811
293975
x
RAYONIER INC
COM
754907103
8086616
201850
x
RAYTHEON CO CLASS A
COM
755111309
330388
5721
x
RAYTHEON CO CLASS B
COM
755111408
2141806
36534
x
RECKSON ASSOCIATES REALTY
CORP
COM
75621K106
6135850
298400
x
REGIONS FINL CORP
COM
758940100
226794
6550
x
80746
2332
x
RELIANCE GROUP HOLDINGS
COM
759464100
3920625
510000
x
REPUBLIC N Y CORP
COM
760719104
7721325
167400
x
REX STORES CORP
COM
761624105
7070469
611500
x
REYNOLDS & REYNOLDS
COM
761695105
5931800
312200
x
RITE AID CORP
COM
767754104
232500
9300
x
ROHM & HAAS CO
COM
775371107
241650
7200
x
ROLLINS TRUCK LEASING
COM
775741101
6785563
719000
x
ROUSE CO
COM
779273101
6161513
277702
x
ROYAL DUTCH PETE CO NY REG
GLD1.25
COM
780257804
1102504
21202
x
RUDDICK CORP
COM
781258108
7839000
402000
x
RYLAND GROUP
COM
783764103
5315625
210000
x
SAKS INC
COM
79377w108
14396200
553700
x
SARA LEE CORP
COM
803111103
11881856
480075
x
SBARRO INC
COM
805844107
9451875
355000
x
SCHLUMBERGER LTD
COM
806857108
222814
3702
x
SCI SYSTEMS INC
COM
783890106
4461525
150600
x
SCOTSMAN INDUSTRIES INC
COM
809340102
5816250
338400
x
SEAGATE TECHNOLOGY
COM
811804103
12500119
422837
x
SEITEL INC
COM
816074306
2688544
192900
x
SHOPKO STORES INC
COM
824911101
22463759
751925
x
SHURGARD STORAGE CTRS
COM
82567d104
6615500
262000
x
SIERRA HEALTH SVCS INC
COM
826322109
8524750
655750
x
SIMPSON MFG CO INC
COM
829073105
6504400
161600
x
SMITH INTERNATIONAL INC
COM
832110100
4968000
124200
x
SOUTHDOWN INC
COM
841297104
24558273
457430
x
SPACEHAB INC
COM
846243103
3152500
485000
x
SPACELABS MEDICAL INC
COM
846247104
3668488
218200
x
ST PAUL COS INC
COM
792860108
514271
16556
x
STANLEY FURNITURE INC
COM
854305208
5967000
306000
x
STANLEY WORKS
COM
854616109
7526703
293725
x
STARCRAFT CORP
COM
855269106
603750
210000
x
STATEN ISLAND BANCORP INC
COM
857550107
3841406
223500
x
STRATTEC SEC CORP
COM
863111100
8296875
295000
x
SUNTRUST BANKS INC
COM
867914103
373127
5994
x
SUPERVALU INC
COM
868536103
5531625
268200
x
SYKES ENTERPRISES INC
COM
871237103
5008438
155000
x
SYLVAN INC
COM
871371100
4216188
419000
x
SYSTEMS & COMPUTER TECH CORP
COM
871873105
3079000
307900
x
TANGER FACTORY OUTLET CENTER
INC
COM
875465106
1552950
81200
x
TECHNITROL INC
COM
878555101
6939506
300900
x
TELEFONICA DE ESPANA
SPONSORED ADR
COM
879382208
267509
2094
x
TENNANT CO
COM
880345103
606225
17700
x
TEXACO INC
COM
881694103
2064679
36382
x
TEXAS INDUSTRIES INC
COM
882491103
6218013
250600
x
TEXAS INSTRS INC
COM
882508104
582002
5864
x
TEXAS UTILITIES CO
COM
882848104
1309350
31175
x
THOMAS & BETTS CORP
COM
884315102
13105556
348900
x
TIDEWATER INC
COM
886423102
1177313
45500
x
TIG HLDGS INC
COM
872469101
3174413
194600
x
TJX COS INC
COM
872540109
15554286
457479
x
TORCHMARK CORP
COM
891027104
937681
29650
x
TORO CO
COM
891092108
10400813
331500
x
TOWN & CTRY TR SH BEN INT
COM
892081100
2441631
162100
x
TOYS R US INC
COM
892335100
955675
50800
x
TRAMMELL CROW CO
COM
89288r106
3330000
180000
x
TRANSOCEAN OFFSHORE
COM
893817106
322700
11200
x
TRENWICK GROUP INC
COM
895290104
8308125
295400
x
TRIGEN ENERGY CORP
COM
895930105
9410156
687500
x
TRIGON HEALTHCARE INC
COM
89618l100
3733250
109000
x
TROPICAL SPORTSWEAR INTL CORP
COM
89708p102
2037500
100000
x
TRW INC
COM
872649108
5419050
119100
x
TUBOSCOPE INC
COM
898600101
2475000
275000
x
U S FREIGHTWAYS CORP
COM
916906100
8218750
250000
x
U S HOME CORP
COM
911920106
13115250
402000
x
U S WEST INC
COM
91273H101
220250
4000
x
67837
1232
x
UCBH HOLDINGS INC
COM
90262t308
825000
60000
x
UNION CAMP CORP
COM
905530101
450879
6717
x
UNION PACIFIC CORP
COM
907818108
497717
9314
x
UNION PACIFIC RES GROUP
COM
907834105
1033671
87046
x
UNITED ASSET MGMT CORP
COM
909420101
271500
12000
x
UNITED DOMINION RLTY TR
COM
910197102
5394063
526250
x
UNITED TECHNOLOGIES CP
COM
913017109
602697
4450
x
UNITEL VIDEO INC
COM
913253100
262500
150000
x
UST INC
COM
902911106
7286263
278900
x
VARLEN CORP
COM
922248109
14378782
653581
x
VLSI TECHNOLOGY INC
COM
918270109
5663313
292300
x
VULCAN MATLS CO
COM
929160109
235481
5700
x
WABASH NATIONAL CORP
COM
929566107
3196875
275000
x
WAL MART STORES INC
COM
931142103
295000
3200
x
WARNER LAMBERT CO
COM
934488107
2927985
44196
x
WAUSAU-MOSINEE PAPER
COM
943315101
4273150
305225
x
WEBB DELL CORP
COM
947423109
6126719
282500
x
WELLPOINT HEALTH NETWORKS
COM
94973h108
6106697
80550
x
WELLS FARGO & CO
COM
949746101
3856174
109980
x
WILLAMETTE INDS INC
COM
969133107
4120413
109150
x
WILLIAMS CLAYTON ENRGY
COM
969490101
2072063
385500
x
WISCONSIN ENERGY CORP
COM
976657106
506916
19450
x
WOODHEAD INDS INC
COM
979438108
3899219
402500
x
WYNNS INTL INC
COM
983195108
8248147
473012
x
XEROX CORP
COM
984121103
530633
10180
x
YPF SOCIEDAD ANONIMA SPON ADR
CL D
COM
984245100
21607309
684588
x
DUQUESNE LT CO PFD 4.15%
PRD
266228600
243750
6500
x
FEDERAL HOME LN MTG CP PFD D
6.14%
PRD
313400806
211500
4000
x
KANSAS CITY POWER & LIGHT
PRD
485134506
213300
2370
x
WESTERN MASS ELEC CO PFD B
7.72%
PRD
958587206
250125
3000
x
AIRTOUCH COMM 4.25% CONV PFD
CNV
00949t308
310830
2311
x
AIRTOUCH COMM 6.00% CONV PFD
CNV
00949t209
283421
3599
x
BELCO OIL & GAS $1.625 CONV PFD
CNV
077410207
2433375
154500
x
NOVACARE CORP
669930aa7
7038
10000
x
ORYX ENERGY COMPANY
68763fad2
18834
19000
x
PERPETUAL FINL CORP
714275aa2
0
150000
x
SPACEHAB INC
846243ac7
2886000
3900000
x
GRAND TOTAL
1823304273
</TABLE>
