UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
INFORMATION REQUIRED OF INSTITUTIONAL INVESTMENT MANAGERS PURSUANT TO
SECTION 13(f)OF THE SECURITIES EXCHANGE ACT OF 1934 AND RULES THEREUNDER
Report for the Calendar Year Ended December 31, 1999
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If amended report check here: [ ]
Loews Corporation
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Name of Institutional Investment Manager
667 Madison Avenue New York New York 10021
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Business Address (Street) (City) (State) (Zip)
Barry Hirsch, Senior Vice President (212) 521-2920
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Name, Phone No., and Title of Person Duly Authorized to Submit This Report.
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
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New York on the 11th day of February , 2000.
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Loews Corporation
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(Name of Institutional Investment Manager)
By: /s/ Barry Hirsch
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(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.:
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1. None 6.
- -------------------------- ------------- ------------------------ -----------
2. 7.
- -------------------------- ------------- ------------------------ -----------
3. 8.
- -------------------------- ------------- ------------------------ -----------
4. 9.
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5. 10.
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Page 1 of 9 Pages
Loews Corporation
FORM 13F
Report for the Year Ended
December 31, 1999
Loews Corporation ("Loews"), by virtue of its approximately 86% 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 34% 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 9 Pages
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Item 1: Item 2: Item 3: Item 4: Item 5: Item 6: Item 7: Item 8:
Investment Discretion
-----------------------
Title Fair Market Shares or (b) Shared- Managers Voting Authority (Shares)
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
Agnico Eagle
Mines Ltd. Common 008474108 $ 8,029 1,079,500 X 1,079,500
Angeion Corp. SR NT CV 03462HAA5 1,381 2,500,000 X 2,500,000
ACD 03
Amcast Ind.
Corp. Common 023395106 983 60,000 X 60,000
Apex Silver Common G04074103 4,008 334,000 X 334,000
Mines Ltd.
Archer Daniels Common 039483102 2,425 200,000 X 200,000
Midland Co.
Barrick Gold
Corp. Common 067901108 22,109 1,250,000 X 1,250,000
Battle Mountain Common 071593107 1,238 600,000 X 600,000
Gold Co.
Beckman Coulter Common 075811109 1,018 20,000 X 20,000
Inc.
Biogen Inc. Common 090597105 1,479 17,500 X 17,500
Boeing Co. Common 097023105 4,765 115,000 X 115,000
CNA Financial Common 126117100 6,208,876 159,457,480 X 159,457,480
Corp.
Cadiz Inc. Common 127537108 4,569 480,900 X 480,900
Cambior Inc. Common 13201L103 431 300,000 X 300,000
Caterpillar Inc. Common 149123101 471 10,000 X 10,000
CHUBB Corp. Common 171232101 2,253 40,000 X 40,000
Coca Cola Common 191219104 805 40,000 X 40,000
Enterprises
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TOTAL $ 6,264,840
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Item 1: Item 2: Item 3: Item 4: Item 5: Item 6: Item 7: Item 8:
Investment Discretion
-----------------------
Title Fair Market Shares or (b) Shared- Managers Voting Authority (Shares)
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
Consolidated Common 209232107 $ 159 20,000 X 20,000
Frtwys Corp.
Continental Common 210795308 4,185 94,300 X 94,300
Airlines CL B
Delta Airlines Common 247361108 9,813 197,000 X 197,000
Diamond Offshore Common 25271C102 2,142,431 70,100,000 X 70,100,000
DuPont E.I. De Common 263534109 1,976 30,000 X 30,000
Nemours & Co.
FDX Corp. Common 31304N107 6,141 150,000 X 150,000
Furniture Brands Common 360921100 1,568 71,250 X 71,250
International
Glamis Gold Ltd. Common 376775102 1,813 1,000,000 X 1,000,000
Homestake Mining Common 437614100 34,930 4,471,000 X 4,471,000
Houston Explora- Common 442120101 1,288 65,000 X 65,000
tion Company
IDT Corp. Common 448947101 3,656 193,700 X 193,700
IMC Global Inc. WT 449669118 1 11,111 X 11,111
122200
Kinross Gold
Corp. Common 496902107 1,950 1,040,000 X 1,040,000
Knightsbridge Common G5299G106 1,141 84,500 X 84,500
Tankers Ltd.
Landamerica Common 514936103 3,741 203,600 X 203,600
Financial Group
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TOTAL $ 2,214,793
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Page 4 of 9 Pages
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Item 1: Item 2: Item 3: Item 4: Item 5: Item 6: Item 7: Item 8:
Investment Discretion
-----------------------
Title Fair Market Shares or (b) Shared- Managers Voting Authority (Shares)
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
Med-Design Corp. Common 583926100 $ 293 20,000 X 20,000
Metromedia Int'l. Common 591695101 239 50,213 X 50,213
Group Inc.
Mine Safety Common 602720104 1,024 16,000 X 16,000
Appliances Co.
Navistar Int'l. Common 63934E108 470 10,000 X 10,000
Corp.
On Command Corp. Common 682160106 1,374 74,287 X 74,287
On Command Corp. WTS B 682160122 145 23,697 X 23,697
100703
Perrigo Co. Common 714290103 800 100,000 X 100,000
Pixar Inc. Common 725811103 1,415 40,000 X 40,000
Placer Dome Inc. Common 725906101 21,016 1,955,000 X 1,955,000
Pfizer, Inc. Common 717081103 1,466 45,200 X 45,200
Potash Corp. Common 73755L107 1,031 21,400 X 21,400
Sask Inc.
Stillwater Mining Common 86074Q102 11,754 368,750 X 368,750
Co.
TVX Gold Inc. Common 87308K101 2,025 2,700,000 X 2,700,000
Telefonos De SPON ADR 879403780 4,500 40,000 X 40,000
Mexico SA ORD L
Tetra Tech. Inc. Common 88162F105 923 60,000 X 60,000
Texas Industries Common 882491103 851 20,000 X 20,000
Inc.
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TOTAL $ 49,326
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Page 5 of 9 Pages
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Item 1: Item 2: Item 3: Item 4: Item 5: Item 6: Item 7: Item 8:
Investment Discretion
-----------------------
Title Fair Market Shares or (b) Shared- Managers Voting Authority (Shares)
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
Thermedics Inc. Common 883901100 $ 1,087 200,000 X 200,000
Thermo Cardio Common 88355K200 1,378 210,000 X 210,000
Systems Inc.
Thermo Cardio SbDbCv
System 144A 04 88355KAA9 820 1,000,000 X 1,000,000
Thermo Electron Common 883556102 1,155 77,000 X 77,000
Corp.
Thermo Electron SubDbCv 883556AF9 856 1,000,000 X 1,000,000
Corp. 144A 03
Thermotrex Corp. SubDbCv 883666AA7 330 500,000 X 500,000
3.25% 07
Tyco Int'l. Common 902124106 780 20,000 X 20,000
Ltd.
Windmere-Durable Common 973411101 1,360 80,000 X 80,000
Holdings, Inc.
USG Corp. Common 903293405 6,715 142,500 X 142,500
AMR Corp. Common 001765956 3,350 50,000(p) X 50,000(p)
Barrick Gold
Corp. Common 067901908 4,422 250,000(c) X 250,000(c)
Barrick Gold
Corp. Common 067901958 16,803 950,000(p) X 950,000(p)
Beckman Coulter, Common 075811959 1,018 20,000(p) X 20,000(p)
Inc.
Biogen Inc. Common 090597955 1,479 17,500(p) X 17,500(p)
Boeing Co. Common 097023905 414 10,000(c) X 10,000(c)
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TOTAL $ 41,967
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</TABLE>
Page 6 of 9 Pages
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Item 1: Item 2: Item 3: Item 4: Item 5: Item 6: Item 7: Item 8:
Investment Discretion
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Title Fair Market Shares or (b) Shared- Managers Voting Authority (Shares)
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
Boeing Common 097023955 $ 5,801 140,000(p) X 140,000(p)
Cadiz Inc. Common 127537908 95 10,000(c) X 10,000(c)
Caterpillar Inc. Common 149123951 8,471 180,000(p) X 180,000(p)
Del.
Chase Manhattan Common 16161A958 7,769 100,000(p) X 100,000(p)
Corp.
Chubb Corp. Common 171232901 1,126 20,000(c) X 20,000(c)
Chubb Corp. Common 191232951 2,816 50,000(p) X 50,000(p)
Delta Airlines Common 247361958 2,989 60,000(p) X 60,000(p)
Disney Walt Co. Common 254687906 65,813 2,250,000(c) X 2,250,000(c)
Disney Walt Co. Common 254687956 119,574 4,088,000(p) X 4,088,000(p)
Dow Chemical Co. Common 260543953 9,354 70,000(p) X 70,000(p)
DuPont E I De Common 263534909 1,318 20,000(c) X 20,000(c)
Nemours & Co.
DuPont E I De Common 263534959 4,611 70,000(p) X 70,000(p)
Nemours & Co.
Exxon Mobil Corp. Common 30231G952 11,279 140,000(p) X 140,000(p)
FDX Corp. Common 31304N957 8,188 200,000(p) X 200,000(p)
General Electric Common 369604953 40,235 260,000(p) X 260,000(p)
Corp.
Homestake Mining Common 437614900 14,453 1,850,000(c) X 1,850,000(c)
Homestake Mining Common 437614950 9,141 1,170,000(p) X 1,170,000(p)
Merrill Lynch Common 590188958 8,331 100,000(p) X 100,000(p)
& Co. Inc.
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TOTAL $ 321,364
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Page 7 of 9 Pages
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Item 1: Item 2: Item 3: Item 4: Item 5: Item 6: Item 7: Item 8:
Investment Discretion
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Title Fair Market Shares or (b) Shared- Managers Voting Authority (Shares)
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 604059955 $ 7,830 80,000(p) X 80,000(p)
Navistar Int'l, Common 63934E958 1,880 40,000(p) X 40,000(p)
Corp.
Nike, Inc. Common 654106953 2,478 50,000(p) X 50,000(p)
Pfizer, Inc. Common 717081953 1,946 60,000(p) X 60,000(p)
Placer Dome Common 725906901 4,838 450,000(c) X 450,000(c)
Placer Dome Common 725906951 4,569 425,000(p) X 425,000(p)
Potash Corp. Common 73755L957 3,855 80,000(p) X 80,000(p)
Sask Inc.
Schlumberger Ltd. Common 806857958 2,245 40,000(p) X 40,000(p)
Amazon.Com Inc. Common 023135906 761 10,000(c) X 10,000(c)
America Online Common 02364J954 6,070 80,000(p) X 80,000(p)
Beringer Wine Common 084102952 798 20,000(p) X 20,000(p)
Estate Holdings
CDW Computer Common 125129956 2,359 30,000(p) X 30,000(p)
Centers Inc.
Carnival Corp. Common 143658952 1,913 40,000(p) X 40,000(p)
Clear Channel Common 184502952 16,065 180,000(p) X 180,000(p)
Communications
Coca Cola Common 191219954 850 40,000(p) X 40,000(p)
Enterprises
Dendrite Intl. Common 248239955 678 20,000(p) X 20,000(p)
Inc.
Gateway Inc. Common 367626958 5,765 80,000(p) X 80,000(p)
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TOTAL $ 64,900
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Page 8 of 9 Pages
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Item 1: Item 2: Item 3: Item 4: Item 5: Item 6: Item 7: Item 8:
Investment Discretion
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Title Fair Market Shares or (b) Shared- Managers Voting Authority (Shares)
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
Intel Common 458140950 $ 3,293 40,000(p) X 40,000(p)
IBM Common 459200951 2,160 20,000(p) X 20,000(p)
Ivillage Inc. Common 46588H905 405 20,000(c) X 20,000(c)
Johnson & Johnson Common 478160954 933 10,000(p) X 10,000(p)
Microstrategy Common 594972901 2,100 10,000(c) X 10,000(c)
Inc.
Micron Tech. Common 595112903 781 10,000(c) X 10,000(c)
Micron Tech. Common 595112953 3,906 50,000(p) X 50,000(p)
New Era of Common 644312900 1,429 30,000(c) X 30,000(c)
Networks Inc.
Nvidia Corp. Common 67066G904 939 20,000(c) X 20,000(c)
Pixar Inc. Common 725811953 708 20,000(p) X 20,000(p)
Priceline.Com Common 741503906 474 10,000(c) X 10,000(c)
Tyco Intl Ltd. Common 902124956 780 20,000(p) X 20,000(p)
US Airways Group Common 911905957 962 30,000(p) X 30,000(p)
USG Corp. Common 903293905 1,414 30,000(c) X 30,000(c)
Verity Inc. Common 92343C906 851 20,000(c) X 20,000(c)
Windmere Durable Common 973411901 680 40,000(c) X 40,000(c)
Holdings Inc.
Yahoo Inc. Common 984332906 3,245 7,500(c) X 7,500(c)
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TOTAL $ 25,060
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AGGREGATE TOTAL $ 8,982,250
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Page 9 of 9 Pages
