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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F HOLDINGS REPORT
INFORMATION REQUIRED OF INSTITUTIONAL INVESTMENT MANAGERS PURSUANT TO
SECTION 13(f)OF THE SECURITIES EXCHANGE ACT OF 1934 AND RULES THEREUNDER
Report for the Quarter Ended March 31, 1999
-----------------------
|------------------------------------------------------------------------------|
| (Please read instructions before preparing form.) |
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If amended report check here: [ ]
Loews Corporation
- --------------------------------------------------------------------------------
Name of Institutional Investment Manager
667 Madison Avenue New York New York 10021
- --------------------------------------------------------------------------------
Business Address (Street) (City) (State) (Zip)
Barry Hirsch, Senior Vice President (212) 521-2920
- --------------------------------------------------------------------------------
Name, Phone No., and Title of Person Duly Authorized to Submit This Report.
|---------------------------------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 New York and State of New York
------------------------- ------------
on the 14th day of May, 1999.
------------ -----
Loews Corporation
-------------------------------------------
(Name of Institutional Investment Manager)
By: /s/ Barry Hirsch
-------------------------------------------
(Manual Signature of Person Duly Authorized
to Submit This Report)
Name and 13F file number of ALL Institutional Investment Managers with respect
to which this schedule is filled (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. None 6.
- -------------------------- ------------- ------------------------ -------------
2. 7.
- -------------------------- ------------- ------------------------ -------------
3. 8.
- -------------------------- ------------- ------------------------ -------------
4. 9.
- -------------------------- ------------- ------------------------ -------------
5. 10.
- -------------------------- ------------- ------------------------ -------------
SEC 1685 (7-88)
Page 1 of 8 Pages
Loews Corporation
FORM 13F
Report for the Quarter Ended
March 31, 1999
Loews Corporation ("Loews"), by virtue of its approximately 85% ownership of
voting securities of CNA Financial Corporation whose business address is CNA
Plaza, Chicago, Illinois 60685 ("CNA"), may be deemed to have investment
discretion regarding certain securities (the "CNA Securities") as to which
investment discretion is deemed to be exercised by CNA. Pursuant to General
Instruction B of Form 13F, CNA is reporting on behalf of Loews regarding the CNA
Securities.
Mr. Laurence A. Tisch and Mr. Preston R. Tisch own in the aggregate
approximately 31% of the outstanding Common Stock of Loews. Mr. Laurence A.
Tisch and Mr. Preston R. Tisch are the Co-Chairman of the Board of Loews.
Laurence A. Tisch and Preston R. Tisch are brothers and may be deemed to be
control persons of Loews.
Page 2 of 8 Pages
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Item 6:
Investment Discretion
Item 2: Item 4: Item 5: --------------------- Item 7: Item 8:
Title Item 3: Fair Market Shares or (b) Shared- Managers Voting Authority (Shares)
Item 1: of CUSIP Value (In Principal As Defined (c)Shared- See -------------------------
Name of Issuer Class Number Thousands) Amount (a)Sole In Instr. v Other Instr. v (a)Sole (b)Shared (c)None
Agmico Eagle Mines Common 008474108 $ 6,825 1,300,000 X 1,300,000
Amcast Ind. Corp. Common 023395106 806 50,000 X 50,000
Angeion Corp. SR NT CV 03462HAA5 1,825 2,500,000 X 2,500,000
ACD 03
Archer Daniels
Midland Common 039483102 7,564 515,006 X 515,006
Barrick Gold Corp. Common 067901108 22,502 1,318,800 X 1,318,800
Battle Mountain
Gold Common 071593107 1,925 700,000 X 700,000
BE Aerospace Inc. Common 073302101 443 30,000 X 30,000
Boeing Co. Common 097023105 4,760 140,000 X 140,000
CNA Financial Corp. Common 126117100 6,083,812 156,758,880 X 156,758,880
Cadiz Inc. Common 127535108 3,844 480,500 X 480,500
Cambior Inc. Common 13201L103 1,200 300,000 X 300,000
Caterpillar Inc. Common 149123101 919 20,000 X 20,000
Chubb Corp. Common 171232101 1,171 20,000 X 20,000
Coltec Industries Common 196879100 728 40,000 X 40,000
Consolidated
Frtwys Common 209232107 118 10,000 X 10,000
Diamond Offshore Common 25271C102 2,216,913 70,100,000 X 70,100,000
TOTAL $8,355,355
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Item 6:
Investment Discretion
Item 2: Item 4: Item 5: --------------------- Item 7: Item 8:
Title Item 3: Fair Market Shares or (b) Shared- Managers Voting Authority (Shares)
Item 1: of CUSIP Value (In Principal As Defined (c)Shared- See -------------------------
Name of Issuer Class Number Thousands) Amount (a)Sole In Instr. v Other Instr. v (a)Sole (b)Shared (c)None
DuPont E.I. De Common 263534109 $ 4,064 70,000 X 70,000
Nemours
EEX Corp. Common 26842V207 2,400 492,333 X 492,333
FDX Corp. Common 31304N107 9,300 100,000 X 100,000
Furniture Brands
Int'l. Common 360921100 1,576 71,250 X 71,250
Getchell Gold
Corp. Common 374265106 7,922 302,500 X 302,500
Glamis Gold Common 376775102 963 700,000 X 700,000
Great Central
Mines Ltd. SPON ADR 390290104 1,433 1,559,195 X 1,559,195
Hanover Compressor Common 410768105 265 10,000 X 10,000
Homestake Mining Common 437614100 22,724 2,634,600 X 2,634,600
Houston Explora-
tion Company Common 442120101 1,390 80,000 X 80,000
IMC Global, Inc. Common 449669100 2,657 129,999 X 129,999
IMC Global, Inc. WT EXP 449669118 5 11,111 X 11,111
122200
Kinross Gold Common 496902107 2,210 1,040,000 X 1,040,000
Metromedia Int'l
Group Inc. Common 591695101 245 50,213 X 50,213
Mine Safety
Appliances Co. Common 602720104 812 14,000 X 14,000
TOTAL $ 57,966
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Item 6:
Investment Discretion
Item 2: Item 4: Item 5: --------------------- Item 7: Item 8:
Title Item 3: Fair Market Shares or (b) Shared- Managers Voting Authority (Shares)
Item 1: of CUSIP Value (In Principal As Defined (c)Shared- See -------------------------
Name of Issuer Class Number Thousands) Amount (a)Sole In Instr. v Other Instr. v (a)Sole (b)Shared (c)None
Minn. Mng. & Man Common 604059105 $ 3,538 50,000 X 50,000
Miramar Mining Common 60466E100 375 500,000 X 500,000
On Command Corp. Common 682160106 678 74,287 X 72,287
On Command Corp. WTS B 682160122 59 23,697 X 23,697
100703
PLC Systems Inc. Common 69341D104 256 100,000 X 100,000
Peoples Bank
(Bridgeport) Common 710198102 1,488 50,000 X 50,000
Perrigo Co. Common 714290103 576 79,500 X 79,500
Placer Dome Common 725906101 10,237 915,000 X 915,000
Rambus Inc. Common 750917106 2,575 40,000 X 40,000
Schlumberger Ltd. Common 806857108 1,204 20,000 X 20,000
Stillwater Mining
Co. Common 86074Q102 10,913 413,750 X 413,750
TJ Int'l. Common 872534102 724 30,000 X 30,000
TVX Gold Inc. Common 87308K101 3,500 2,800,000 X 2,800,000
Texas Industries Common 882491103 1,241 50,000 X 50,000
Thermo Cardio
System SB DB CV 88355KAA9 820 1,000,000 X 1,000,000
144A 04
Thermo Electron
Corp. SubDbCv 883556AF9 960 1,000,000 X 1,000,000
144A 03
TOTAL $39,144
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Page 5 of 8 Pages
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Item 6:
Investment Discretion
Item 2: Item 4: Item 5: --------------------- Item 7: Item 8:
Title Item 3: Fair Market Shares or (b) Shared- Managers Voting Authority (Shares)
Item 1: of CUSIP Value (In Principal As Defined (c)Shared- See -------------------------
Name of Issuer Class Number Thousands) Amount (a)Sole In Instr. v Other Instr. v (a)Sole (b)Shared (c)None
Thermotrex Corp. GTDSBDBCV 883666AA7 $ 340 500,000 X 500,000
3.25%07
Thermedics Inc. Common 883901100 1,241 175,700 X 175,700
UCAR Intl. Inc. Common 90262K109 283 20,000 X 20,000
USG Corp. Common 903293405 11,303 220,000 X 220,000
AMR Corp. Common 001765956 1,133 20,000(p) X 20,000(p)
Barrick Gold Corp. Common 067901908 3,413 200,000(c) X 200,000(c)
Barrick Gold Corp. Common 067901958 9,384 550,000(p) X 550,000(p)
Boeing Common 097023955 4,760 140,000(p) X 140,000(p)
Caterpillar Inc.
Del. Common 149123951 6,891 150,000(p) X 150,000(p)
Chase Manhattan
Corp. Common 16161A958 8,138 100,000(p) X 100,000(p)
Chubb Corp. Common 171232951 1,171 20,000(c) X 20,000(c)
Clear Channel Common 184502952 3,353 50,000(p) X 50,000(p)
Delta Airlines Common 247361958 5,560 80,000(p) X 80,000(p)
Disney Walt co. Common 254687906 70,031 2,250,000(c) X 2,250,000(c)
Disney Walt Co. Common 254687956 163,406 8,250,000(p) X 8,250,000(p)
Dow Chemical Co. Common 260543953 4,678 50,000(p) X 50,000(p)
DuPont E I De
Nemours Common 263545959 4,064 70,000(p) X 70,000(p)
Exxon Corp. Common 302290951 7,762 110,000(p) X 110,000(p)
TOTAL $ 306,911
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Page 6 of 8 Pages
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Item 6:
Investment Discretion
Item 2: Item 4: Item 5: --------------------- Item 7: Item 8:
Title Item 3: Fair Market Shares or (b) Shared- Managers Voting Authority (Shares)
Item 1: of CUSIP Value (In Principal As Defined (c)Shared- See -------------------------
Name of Issuer Class Number Thousands) Amount (a)Sole In Instr. v Other Instr. v (a)Sole (b)Shared (c)None
FDX Corp. Common 31304N957 $ 9,300 100,000(p) X 100,000(p)
General Electric
Corp. Common 369604953 11,056 100,000(p) X 100,000(p)
Getchell Gold
Corp. Common 374265906 324 20,000(c) X 20,000(c)
Homestake Mining Common 437614950 9,229 1,070,000(p) X 1,070,000(p)
Longview Fibre Co. Common 543213902 694 60,000(c) X 60,000(c)
Merrill Lynch
& Co. Common 590188958 7,080 80,000(p) X 80,000(p)
Minn. Mng. & Man. Common 604059905 3,538 50,000(c) X 50,000(c)
Minn. Mng. & Man. Common 604059955 3,538 50,000(p) X 50,000(p)
Nike, Inc. CIB 654106953 2,893 50,000(p) X 50,000(p)
Peoples Bank
(Brdgpt) Common 710198952 1,488 50,000(p) X 50,000(p)
Placer Dome Common 725906951 4,195 375,000(p) X 375,000(p)
Potash Corp. Common 73755L957 2,140 40,000(p) X 40,000(p)
Rambus Inc. Common 750917956 2,575 40,000(p) X 40,000(p)
Schlumberger Ltd. Common 806857958 2,408 40,000(p) X 40,000(p)
Thermo Electron Common 883556902 1,044 77,000(c) X 77,000(c)
Thermo Cardio
Systems Common 88355K900 1,440 180,000(c) X 180,000(c)
US Airways Common 911905957 1,465 30,000(p) X 30,000(p)
TOTAL $ 64,407
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Item 6:
Investment Discretion
Item 2: Item 4: Item 5: --------------------- Item 7: Item 8:
Title Item 3: Fair Market Shares or (b) Shared- Managers Voting Authority (Shares)
Item 1: of CUSIP Value (In Principal As Defined (c)Shared- See -------------------------
Name of Issuer Class Number Thousands) Amount (a)Sole In Instr. v Other Instr. v (a)Sole (b)Shared (c)None
Windmere Common 973411901 $ 1,190 170,000(c) X 170,000(c)
ABR Info. Common 00077R958 348 20,000(p) X 20,000(p)
Amazon Com. Inc. Common 023135956 3,444 20,000(p) X 20,000(p)
America Online Common 02364J954 11,760 80,000(p) X 80,000(p)
Beringer Wine Common 084102902 1,091 30,000(c) X 30,000(c)
Beringer Wine Common 084102952 1,091 30,000(p) X 30,000(p)
Centocor Inc. Common 152342951 1,847 50,000(p) X 50,000(p)
Clear Channel Common 184502952 5,365 80,000(p) X 80,000(p)
Coca Cola Common 191219954 2,455 40,000(p) X 40,000(p)
Gateway 2000 Common 367833900 1,371 20,000(c) X 20,000(c)
Gateway 2000 Common 367833950 1,371 20,000(p) X 20,000(p)
Intel Common 458140950 2,378 40,000(p) X 40,000(p)
IBM Common 459200951 1,773 10,000(p) X 10,000(p)
Sunrise Assisted
Living, Inc. Common 86768K956 1,823 40,000(p) X 40,000(p)
TOTAL 37,307
AGGREGATE TOTAL $8,861,090
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Page 8 of 8 Pages
