LINCOLN CAPITAL MANAGEMENT CO
13F-HR, 1999-04-13
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	INFORMATION REQUIRED OF INSTITUTIONAL INVESMENT
	MANAGERS PURSUANT TO SECTION 13(F) OF THE SECURITIES
	EXCHANGE ACT OF 1934 AND RULES THEREUNDER

	Securities and Exchange Commission
	Washington, D.C. 20549

	Report for the Calendar Year or Quarter Ended 	March 31, 1999	
(Please read instructions before preparing form.)
	If amended report check here: ?
	
Name of Institutional Investment Manager:
	LINCOLN CAPITAL MANAGEMENT COMPANY	
Business Address:
	200 S. WACKER DRIVE, SUITE 2100	CHICAGO	ILLINOIS	60606
	
	Street	City	State	Zip
Name, Phone No., and Title of Person Duly Authorized to Submit This Report.

	J. PARKER HALL III	(312) 559-2880	CHIEF EXECUTIVE OFFICER

	ATTENTION - - Intentional misstatements or omissions of facts 
constitute Federal
		Criminal Violations.  See 18 U.S.C. 1001 and 15 U.S.C. 
78ff(a)


	The institutional investment manager submitting this Form and 
its attachments and the person by whom it is signed represent 
hereby that all information contained therein is true, correct and 
complete.  It is understood that all required items, statements and 
schedules are considered integral parts of this Form and that the 
submission of any amendment represents that all unamended items, 
statements and schedules remain true, correct and complete as 
previously submitted.

	Pursuant to the requirements of Securities Exchange act of 1934, 
the undersigned institutional investment manager has caused this 
report to be signed on its behalf in the City 

of		CHICAGO		and State of		ILLINOIS
	

on the 	12th		day of 		APRIL	 ,	1999	 .


		LINCOLN CAPITAL MANAGEMENT COMPANY	
		(Name of Institutional Investment Manager)

		
		(Manual Signature of Person Duly Authorized
		to Submit This Report)

Name and 13F file numbers of ALL Institutional Investment Managers with respect 
to which this schedule is filed (other than the one filing this report):  (List 
in alphabetical order).

13F File Numbers will be assigned to Institutional Investment Managers after 
they file their first report.

Name:		13F File No.:	Name:		13F File 
No.:	
1.				7.			
2.				8.			
3.				9.			
4.				10.			
5				11.			
6.  				12.			
SEC 1685 (5-85)

<TABLE>

FORM 13F	     Name of Reporting Manager:  LINCOLN CAPITAL MANAGEMENT CO.	

          <C>                       <C> 			
                                                        							Item 8:	
                                                        							Voting Authority	
Item 1:	  Item 2:   Item 3:	Item 4:	Item 5:		Item 6           	(Shares)	
Name of Issuer	Title of	CUSIP	Fair Market	Shares or	Discretion		
	Class	Number	Value	Principal	(a) Sole	(a) Sole     (b) Share  (c) None
				Amount				
MICROSOFT CORP	COM	594918104	$2,146.9	23,954,800	23,954,800	9,638,500	0	14,316,300
GENERAL ELEC CO	COM	369604103	$2,069.8	18,710,000	18,710,000	7,917,300	0	10,792,700
CISCO SYS INC 	COM	17275R102	$1,879.9	17,157,900	17,157,900	7,279,000	0	9,878,900
INTEL CORP	COM	458140100	$1,630.7	13,718,000	13,718,000	5,667,000	0	8,051,000
MERCK & CO INC	COM	589331107	$1,626.6	20,300,300	20,300,300	8,214,700	0	12,085,600
PROCTER & GAMBLE CO 	COM	742718109	$1,404.0	14,336,150	14,336,150	5,825,250	0	8,510,900
PFIZER INC	COM	717081103	$1,334.6	9,618,400	9,618,400	4,130,600	0	5,487,800
LUCENT TECHNOLOGIES INC 	COM	549463107	$1,099.5	10,180,500	10,180,500	4,281,100	0	5,899,400
DELL COMPUTER CORP 	COM	247025109	$1,010.8	24,730,200	24,730,200	10,449,600	0	14,280,600
BRISTOL MYERS SQUIBB CO	COM	110122108	$949.5	14,807,000	14,807,000	6,207,400	0	8,599,600
COLUMN TOTAL			$15,152.3					

AMERICAN HOME PRODS CORP	COM	026609107	$763.1	11,695,700	11,695,700	5,054,900	0	6,640,800
AMERICAN INTL GROUP INC 	COM	026874107	$756.9	6,274,954	6,274,954	2,726,354	0	3,548,600
COCA COLA CO 	COM	191216100	$745.7	12,150,200	12,150,200	5,096,600	0	7,053,600
WAL MART STORES INC	COM	931142103	$710.5	7,706,900	7,706,900	3,231,100	0	4,475,800
CVS CORP 	COM	126650100	$678.4	14,281,200	14,281,200	5,997,100	0	8,284,100
CHASE MANHATTAN CORP NEW 	COM	16161A108	$654.2	8,038,900	8,038,900	3,382,400	0	4,656,500
GILLETTE CO 	COM	375766102	$604.8	10,175,000	10,175,000	4,297,100	0	5,877,900
AMGEN INC 	COM	031162100	$580.4	7,752,200	7,752,200	3,258,600	0	4,493,600
SCHERING PLOUGH CORP 	COM	806605101	$578.4	10,469,500	10,469,500	4,416,500	0	6,053,000
INTERNATIONAL BUS MACH 	COM	459200101	$539.5	3,043,800	3,043,800	1,328,200	0	1,715,600
COLUMN TOTAL			$6,611.9					

NOKIA CORPORATION	COM	654902204	$534.4	3,431,400	3,431,400	1,365,200	0	2,066,200
AUTOMATIC DATA PROCESSING 	COM	053015103	$533.6	12,895,500	12,895,500	5,453,700	0	7,441,800
JOHNSON & JOHNSON	COM	478160104	$519.9	5,560,200	5,560,200	2,413,000	0	3,147,200
MONSANTO CO 	COM	611662107	$507.6	11,049,500	11,049,500	4,606,400	0	6,443,100
PHILIP MORRIS COS	COM	718154107	$496.0	14,096,200	14,096,200	6,305,900	0	7,790,300
TIME WARNER INC 	COM	887315109	$482.5	6,813,700	6,813,700	2,897,700	0	3,916,000
COLGATE-PALMOLIVE CO	COM	194162103	$466.8	5,073,500	5,073,500	2,129,900	0	2,943,600
WARNER LAMBERT CO	COM	934488107	$465.4	7,024,200	7,024,200	2,978,000	0	4,046,200
WELLS FARGO & CO NEW 	COM	949746101	$422.6	12,054,000	12,054,000	5,002,200	0	7,051,800
TYCO INTL LTD NEW 	COM	902124106	$397.0	5,533,182	5,533,182	2,114,836	0	3,418,346
COLUMN TOTAL			$4,825.8

XEROX CORP	COM	984121103	$395.5	7,588,400	7,588,400	3,093,400	0	4,495,000
PEPSICO INC 	COM	713448108	$392.6	10,019,400	10,019,400	4,290,300	0	5,729,100
HOME DEPOT INC 	COM	437076102	$372.4	5,982,300	5,982,300	2,467,900	0	3,514,400
PHARMACIA & UPJOHN INC	ADR	716941109	$320.6	5,140,500	5,140,500	2,144,200	0	2,996,300
MCDONALDS CORP	COM	580135101	$318.3	7,023,600	7,023,600	3,056,000	0	3,967,600
MBNA CORP 	COM	55262L100	$317.2	13,285,100	13,285,100	5,732,100	0	7,553,000
PAYCHEX INC 	COM	704326107	$300.7	6,338,700	6,338,700	2,810,100	0	3,528,600
ASSOC. FIRST CAP CORP CL A	COM	046008108	$300.3	6,673,600	6,673,600	2,918,300	0	3,755,300
FEDERAL NATL MTG ASSN 	COM	313586109	$295.7	4,270,700	4,270,700	1,821,900	0	2,448,800
COSTCO COMPANIES INC 	COM	22160Q102	$291.3	3,181,600	3,181,600	1,361,500	0	1,820,100
COLUMN TOTAL			$3,304.6					

LILLY ELI & CO 	COM	532457108	$278.9	3,285,900	3,285,900	1,439,500	0	1,846,400
ILLINOIS TOOL WKS INC 	COM	452308109	$272.8	4,408,100	4,408,100	1,908,700	0	2,499,400
ALZA CORP 	COM	022615108	$263.1	6,879,200	6,879,200	2,847,500	0	4,031,700
GENERAL MILLS INC	COM	370334104	$261.9	3,466,300	3,466,300	1,490,900	0	1,975,400
US BANCORP DEL 	COM	902973106	$260.1	7,636,900	7,636,900	3,266,400	0	4,370,500
TJX COS INC NEW 	CL A	872540109	$254.2	7,476,600	7,476,600	3,366,400	0	4,110,200
ORACLE CORP 	CL A	68389X105	$245.8	9,317,900	9,317,900	4,039,600	0	5,278,300
E M C CORP MASS	COM	268648102	$244.9	1,917,100	1,917,100	848,000	0	1,069,100
CARDINAL HEALTH INC 	COM	14149Y108	$223.1	3,379,700	3,379,700	1,498,800	0	1,880,900
BMC SOFTWARE INC 	COM	055921100	$222.2	5,994,800	5,994,800	2,581,100	0	3,413,700
COLUMN TOTAL			$2,527.0					

QUINTILES TRANSNATIONAL CORP	COM	748767100	$213.9	5,665,300	5,665,300	2,508,100	0	3,157,200
MEYER FRED INC	COM	592907109	$212.5	3,610,100	3,610,100	1,606,500	0	2,003,600
AVON PRODUCTS INC	CL A	054303102	$188.9	4,014,500	4,014,500	1,756,200	0	2,258,300
MIRAGE RESORTS INC 	COM	60462E104	$185.4	8,723,400	8,723,400	3,908,300	0	4,815,100
FIRST DATA CORP 	COM	319963104	$184.9	4,325,900	4,325,900	1,826,000	0	2,499,900
ZENECA GR PLC SPONSORED ADR	COM	98934D106	$182.8	3,884,500	3,884,500	1,551,900	0	2,332,600
SEALED AIR CORP NEW 	COM	81211K100	$180.5	3,669,498	3,669,498	1,743,029	0	1,926,469
SEALED AIR CORP PW	CL A	81211K209	$170.0	3,435,157	3,435,157	1,549,972	0	1,885,185
BED BATH & BEYOND INC 	COM	075896100	$169.7	4,648,800	4,648,800	2,107,100	0	2,541,700
UNILEVER N V NEW YORK SHS	COM	904784501	$159.2	2,396,700	2,396,700	986,100	0	1,410,600
COLUMN TOTAL			$1,847.8					

ABERCROMBIE & FITCH CO CL A	COM	002896207	$157.3	1,705,400	1,705,400	736,400	0	969,000
MAY DEPT STORES CO 	COM	577778103	$147.1	3,760,600	3,760,600	1,713,950	0	2,046,650
3COM CORP 	COM	885535104	$140.9	6,044,300	6,044,300	2,690,500	0	3,353,800
CAPITAL ONE FINANCIAL	COM	14040H105	$139.0	920,800	920,800	393,700	0	527,100
SCHWAB CHARLES CORP NEW 	COM	808513105	$123.7	1,286,700	1,286,700	596,600	0	690,100
RITE AID CORP	COM	767754104	$123.4	4,937,100	4,937,100	2,154,700	0	2,782,400
DAYTON HUDSON CORP 	COM	239753106	$109.1	1,637,300	1,637,300	712,700	0	924,600
QUAKER OATS CO 	COM	747402105	$105.2	1,690,500	1,690,500	753,600	0	936,900
LEARNING COMPANY INC	COM	522008101	$104.1	3,588,900	3,588,900	1,592,700	0	1,996,200
SAFEWAY INC  NEW	COM	786514208	$100.4	1,957,400	1,957,400	871,300	0	1,086,100
COLUMN TOTAL			$1,250.2					

MEDTRONIC INC 	COM	585055106	$96.7	1,345,600	1,345,600	546,600	0	799,000
COCA COLA ENTERPRISES INC 	COM	191219104	$93.7	3,096,800	3,096,800	1,362,100	0	1,734,700
MAXIM INTEGRATED PRODS INC	COM	57772K101	$80.4	1,485,900	1,485,900	672,600	0	813,300
LINEAR TECHNOLOGY CORP	COM	535678106	$78.6	1,532,900	1,532,900	710,600	0	822,300
GRACE W R & CO DEL NEW 	COM	38388F108	$77.1	6,360,500	6,360,500	2,850,300	0	3,510,200
KROGER CO	COM	501044101	$72.0	1,202,100	1,202,100	533,100	0	669,000
HOUSEHOLD INTL INC	COM	441815107	$52.0	1,140,300	1,140,300	510,400	0	629,900
MATTEL INC 	COM	577081102	$42.0	1,682,600	1,682,600	679,200	0	1,003,400
ASTRA AB SPONSOR ADR A	COM	046298105	$39.1	1,706,000	1,706,000	660,500	0	1,045,500
NATIONAL INSTRUMENTS 	COM	636518102	$5.1	177,500	177,500	177,500	0	0
COLUMN TOTAL			$636.7					

TECH DATA CORP 	COM	878237106	$4.7	206,000	206,000	206,000	0	0
OFFICE DEPOT INC 	COM	676220106	$4.7	125,000	125,000	125,000	0	0
VISIO CORP 	COM	927914101	$4.6	162,500	162,500	162,500	0	0
MAXIMUS INC 	COM	577933104	$4.2	144,300	144,300	144,300	0	0
PARAMETRIC TECHNOLOGY CORP 	COM	699173100	$4.2	211,900	211,900	211,900	0	0
FASTENAL COMPANY 	COM	311900104	$4.1	117,000	117,000	117,000	0	0
PRE-PAID LEGAL SERVICE 	COM	740065107	$4.0	162,100	162,100	162,100	0	0
DOLLAR GENERAL CORP 	COM	256669102	$3.5	103,515	103,515	103,515	0	0
NETWORK ASSOCIATES INC 	COM	640938106	$3.0	98,420	98,420	98,420	0	0
PRICELINE COM INC 	COM	741503106	$2.9	35,000	35,000	35,000	0	0
COLUMN TOTAL			$39.9					

POMEROY COMPUTER RES	COM	731822102	$2.9	220,500	220,500	220,500	0	0
ORTHODONTIC CTRS AMER INC	COM	68750P103	$2.8	177,300	177,300	177,300	0	0
SYBRON INTL CORP	COM	87114F106	$2.8	110,000	110,000	110,000	0	0
LOWES COS INC 	COM	548661107	$2.7	44,900	44,900	44,900	0	0
ABR INFORMATION SYS 	CL A	00077R108	$2.6	151,000	151,000	151,000	0	0
METZLER GROUP INC 	COM	592903108	$2.5	81,000	81,000	81,000	0	0
HARTE-HANKS INC 	CL A	416196103	$2.5	91,000	91,000	91,000	0	0
VETERINARY CTRS AMER INC	COM	925514101	$2.5	176,000	176,000	176,000	0	0
DAISYTEK INTL CORP 	COM	234053106	$2.3	140,000	140,000	140,000	0	0
SIPEX CORP 	COM	829909100	$2.3	172,500	172,500	172,500	0	0
COLUMN TOTAL			$25.9					

OMNICARE INC 	COM	681904108	$2.2	114,000	114,000	114,000	0	0
NFO WORLDWIDE INC	COM	62910N108	$1.9	188,500	188,500	188,500	0	0
RENAL CARE GROUP INC	COM	759930100	$1.7	89,000	89,000	89,000	0	0
TOTAL RENAL CARE HLDGS 	COM	89151A107	$1.7	155,000	155,000	155,000	0	0
CHEAP TICKETS INC	COM	162672109	$1.7	50,000	50,000	50,000	0	0
ADVANCED LIGHTING TECH 	COM	00753C102	$1.6	200,000	200,000	200,000	0	0
UNIVISION COMM INC CL A	COM	914906102	$1.6	31,000	31,000	31,000	0	0
SUPERIOR SVCS INC	COM	868316100	$1.5	75,000	75,000	75,000	0	0
IMAX CORP 	COM	45245E109	$1.5	75,000	75,000	75,000	0	0
GOODYS FAMILY CLOTHING INC 		382588101	$1.4	100,000	100,000	100,000	
COLUMN TOTAL	COM		$16.8				

DALLAS SEMICONDUCTOR CORP 	COM	235204104	$1.4	35,000	35,000	35,000	0	0
ADVANCED POLYMERS SYS 	COM	00754G102	$1.2	284,000	284,000	284,000	0	0
SCI SYS INC 	COM	783890106	$1.2	39,000	39,000	39,000	0	0
MININGCO COM INC 	COM	60366T108	$0.9	10,000	10,000	10,000	0	0
ZIFF-DAVIS INC COM ZDNET	COM	989511209	$0.7	20,000	20,000	20,000	0	0
AUTOBYTEL COM INC	COM	05275N106	$0.6	15,000	15,000	15,000	0	0
PHOENIX INTL INC 	COM	719078107	$0.6	127,500	127,500	127,500	0	0
LINCARE HLDGS INC	COM	532791100	$0.6	20,000	20,000	20,000	0	0
ONEMAIN COM INC 	COM	68267P109	$0.4	10,000	10,000	10,000	0	0
AUTOWEB COM INC 		053331104	$0.4	10,000	10,000	10,000		
COLUMN TOTAL	COM		$8.0					

LINC CAP INC COM	COM	501942106	$0.2	30,000	30,000	30,000	0	0
CAMPBELL SOUP CO COM	COM	134429109	$0.1	2,100	2,100	2,100	0	0
COLUMN TOTAL			$.3					

</TABLE>

SUMMARY PAGE										
						
Item 1:	Item 2:	Item 3:	Item 4:	Item 5:		
Name of Issuer	Title of	CUSIP	Fair Market	Shares or		
	Class	Number	Value	Principal	
				Amount				
	Page 1		$15,152.3								
	2		$6,611.9								
	3		$4,825.8								
	4		$3,304.6								
	5		$2,527.0								
	6		$1,847.8								
	7		$1,250.2								
	8		$636.7								
	9		$39.9								
	10		$25.9								
	11		$16.8								
	12		$8.0								
	13		$.3								
COLUMN TOTAL			$36,247.2								




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