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OMB APPROVAL
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OMB Number: 3235-0006
Expires: February 28, 1991
Estimated average burden
hours per response.....24.60
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SEC USE ONLY
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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 or Quarter Ended March 31, 1999
- --------------------------------------------------------------------------------
(Please read instructions before preparing form.)
- --------------------------------------------------------------------------------
If amended report check here: |_|
Haven Capital Management, Inc.
- --------------------------------------------------------------------------------
Name of Institutional Investment Manager
655 Third Avenue New York NY 10017
- --------------------------------------------------------------------------------
Business Address (Street) (City) (State) (Zip)
Stephen Ely, Managing Director (212) 953-2324
- --------------------------------------------------------------------------------
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 12th day of
April, 1999.
Haven Capital Management, Inc.
------------------------------------------
(Name of Institutional Investment Manager)
/s/ STEPHEN ELY
------------------------------------------
(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 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. SEE ATTACHED 6.
- ----------------------- ------------- ----------------------- -------------
2. 7.
- ----------------------- ------------- ----------------------- -------------
3. 8.
- ----------------------- ------------- ----------------------- -------------
4. 9.
- ----------------------- ------------- ----------------------- -------------
5. 10.
- ----------------------- ------------- ----------------------- -------------
SEC 1685 (7-88)
<PAGE>
FORM 13F
Page 1 of 1 Name of Reporting Manager: Haven Capital Management, Inc.
--------------
(SEC USE ONLY)
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Item 1: Item 2: Item 3: Item 4: Item 5: Item 6: Item 7: Item 8:
Investment Discretion Voting Authority
------------------------ ---------------------
Title Fair Shares of (a) (b) (c) Mana- (a) (b) (c)
Name of Issuer of CUSIP Market Principal Sole Shared as Shared gers Sole Shared None
Class Number Value Amount Defined Other See
in Instru
Instru V. V.
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
SEE ATTACHED
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
FORM 13F
REPORTING MANAGER: HAVEN CAPITAL MGMT
3/31/99
PAGE 1
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
INVESTMENT DISCRETION VOTING AUTHORITY
TITLE FAIR SHARES OF SHARED
NAME OF ISSUER OF CUSIP MARKET PRINCIPAL SOLE SHARED OTHER MANA- SOLE SHARED NONE
CLASS NUMBER VALUE AMOUNT (A) (B) (C) GERS (A) (B) (C)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
VAXGEN INC. PRIVATE PLACEMEN 000111005 732 154000 SH SOLE 0 0 154000
ABBOTT LABS COMMON 002824100 6199 132430 SH SOLE 0 0 132430
ALBERTO CULVER CO CL A CL A 013068200 6729 316640 SH SOLE 0 0 316640
ALLMERICA FINL CORP COMMON 019754100 6501 118068 SH SOLE 0 0 118068
AMERICAN GREETINGS CORP CL A 026375105 3111 122600 SH SOLE 0 0 122600
AMERICAN HOME PRODS CORP COMMON 026609107 7589 116300 SH SOLE 0 0 116300
AMERICAN INTL GROUP INC COMMON 026874107 611 5062 SH SOLE 0 0 5062
ANDREW CORP COMMON 034425108 4944 401512 SH SOLE 0 0 401512
ANHEUSER BUSCH COS INC COMMON 035229103 7780 102200 SH SOLE 0 0 102200
ARMSTRONG WORLD INDS INC COMMON 042476101 6719 148700 SH SOLE 0 0 148700
AVERY DENNISON CORP COMMON 053611109 11989 208500 SH SOLE 0 0 208500
BP AMOCO P L C SPONS ADR 055622104 12138 120177 SH SOLE 0 0 120177
BAKER FENTRESS & CO COMMON 057213100 2909 193124 SH SOLE 0 0 193124
BANK ONE CORP COMMON 06423A103 10659 193575 SH SOLE 0 0 193575
BANKBOSTON CORP COMMON 06605R106 381 8800 SH SOLE 0 0 8800
ROLLS ROYCE ORD 20P 0747761 3634 859175 SH SOLE 0 0 859175
BECTON DICKINSON & CO COMMON 075887109 7392 192950 SH SOLE 0 0 192950
BELCO OIL & GAS CORP PFD CONV 077410207 2218 140800 SH SOLE 0 0 140800
BELL ATLANTIC CORP COMMON 077853109 4387 84868 SH SOLE 0 0 84868
----- ------ ----- ----- ----- --- --- ------
COLUMN TOTALS
</TABLE>
<PAGE>
FORM 13F
REPORTING MANAGER: HAVEN CAPITAL MGMT
3/31/99
PAGE 2
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
INVESTMENT DISCRETION VOTING AUTHORITY
TITLE FAIR SHARES OF SHARED
NAME OF ISSUER OF CUSIP MARKET PRINCIPAL SOLE SHARED OTHER MANA- SOLE SHARED NONE
CLASS NUMBER VALUE AMOUNT (A) (B) (C) GERS (A) (B) (C)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
BERKSHIRE HATHAWAY INC B CLASS B 084670207 813 346 SH SOLE 0 0 346
BOB EVANS FARMS INC COMMON 096761101 4995 249731 SH SOLE 0 0 249731
BORDERS GROUP INC COMMON 099709107 2841 202000 SH SOLE 0 0 202000
BRISTOL MYERS SQUIBB CO COMMON 110122108 9161 142860 SH SOLE 0 0 142860
BURLINGTON RES INC COMMON 122014103 6468 161950 SH SOLE 0 0 161950
CAMPBELL SOUP CO. COMMON 134429109 464 11400 SH SOLE 0 0 11400
CATERPILLAR INC DEL COMMON 149123101 231 5032 SH SOLE 0 0 5032
CHEVRON CORPORATION COMMON 166751107 382 4300 SH SOLE 0 0 4300
CHUBB CORP COMMON 171232101 480 8200 SH SOLE 0 0 8200
CIRCUIT CITY STORE/GRP CIRCT CITY GRP 172737108 4594 59950 SH SOLE 0 0 59950
COLUMBUS MCKINNON CORP N COMMON 199333105 4303 213815 SH SOLE 0 0 213815
COMMERCE BANCORP NJ COMMON 200519106 6867 166467 SH SOLE 0 0 166467
COMPUTER ASSOC INTL INC COMMON 204912109 2915 81975 SH SOLE 0 0 81975
CORNING INC COMMON 219350105 805 13414 SH SOLE 0 0 13414
CROSS TIMBERS RTY TR TR UNIT 22757R109 2890 316670 SH SOLE 0 0 316670
DANA CORP COMMON 235811106 1969 51818 SH SOLE 0 0 51818
DANAHER CORP DEL COMMON 235851102 4688 89717 SH SOLE 0 0 89717
DEXTER CORP COMMON 252165105 4275 135700 SH SOLE 0 0 135700
DIEBOLD INC COMMON 253651103 3916 163162 SH SOLE 0 0 163162
----- ------ ----- ----- ----- --- --- ------
COLUMN TOTALS
</TABLE>
<PAGE>
FORM 13F
REPORTING MANAGER: HAVEN CAPITAL MGMT
3/31/99
PAGE 3
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
INVESTMENT DISCRETION VOTING AUTHORITY
TITLE FAIR SHARES OF SHARED
NAME OF ISSUER OF CUSIP MARKET PRINCIPAL SOLE SHARED OTHER MANA- SOLE SHARED NONE
CLASS NUMBER VALUE AMOUNT (A) (B) (C) GERS (A) (B) (C)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
DOVER CORP COMMON 260003108 9383 285400 SH SOLE 0 0 285400
DU PONT E I DE NEMOURS COMMON 263534109 5510 94900 SH SOLE 0 0 94900
E M C CORP MASS COMMON 268648102 9454 74000 SH SOLE 0 0 74000
ELAN PLC DEPOSITORY RECEI 284131208 3822 54800 SH SOLE 0 0 54800
EMERSON ELEC CO COMMON 291011104 1205 22770 SH SOLE 0 0 22770
FIRST FINL HLDGS INC COMMON 320239106 216 12000 SH SOLE 0 0 12000
FIRST TENN NATL CORP COMMON 337162101 1666 45500 SH SOLE 0 0 45500
FIRST UNION CORP COMMON 337358105 212 3968 SH SOLE 0 0 3968
FIRST VA BANKS INC COMMON 337477103 308 6750 SH SOLE 0 0 6750
FLEET FINL GROUP INC NEW COMMON 338915101 3129 83154 SH SOLE 0 0 83154
GATEWAY 2000 INC COMMON 367833100 5567 81200 SH SOLE 0 0 81200
GENERAL ELEC CO COMMON 369604103 4780 43208 SH SOLE 0 0 43208
GENERAL GROWTH PPTYS INC COMMON 370021107 11194 345100 SH SOLE 0 0 345100
GRAINGER W W INC COMMON 384802104 3284 76260 SH SOLE 0 0 76260
GREENPOINT FINL CORP COMMON 395384100 1321 38000 SH SOLE 0 0 38000
GULF CDA RES LTD ORD 40218L305 2429 903800 SH SOLE 0 0 903800
HASBRO INC COMMON 418056107 5654 195400 SH SOLE 0 0 195400
HEILIG MEYERS CO COMMON 422893107 130 25000 SH SOLE 0 0 25000
HEINZ H J CO COMMON 423074103 343 7250 SH SOLE 0 0 7250
----- ------ ----- ----- ----- --- --- ------
COLUMN TOTALS
</TABLE>
<PAGE>
FORM 13F
REPORTING MANAGER: HAVEN CAPITAL MGMT
3/31/99
PAGE 4
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
INVESTMENT DISCRETION VOTING AUTHORITY
TITLE FAIR SHARES OF SHARED
NAME OF ISSUER OF CUSIP MARKET PRINCIPAL SOLE SHARED OTHER MANA- SOLE SHARED NONE
CLASS NUMBER VALUE AMOUNT (A) (B) (C) GERS (A) (B) (C)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CREDIT COMMERCL FRANCE FRF25 4230870 784 8500 SH SOLE 0 0 8500
CREDIT SUISSE GROUP-REG CHF20 (REGD) 4245614 2391 12825 SH SOLE 0 0 12825
HEWLETT PACKARD CO COMMON 428236103 10093 148830 SH SOLE 0 0 148830
HOECHST A G ADR 434390308 2585 59600 SH SOLE 0 0 59600
INGERSOLL RAND CO COMMON 456866102 5717 115200 SH SOLE 0 0 115200
INTERNATIONAL BUS MACH COMMON 459200101 2042 11520 SH SOLE 0 0 11520
JOHNSON & JOHNSON COMMON 478160104 10470 111982 SH SOLE 0 0 111982
JUNO LTG INC COMMON 482047107 5699 254000 SH SOLE 0 0 254000
KIMBERLY CLARK CORP COMMON 494368103 9752 203433 SH SOLE 0 0 203433
LABORATORY CORP AMER HLD COMMON 50540R102 790 451500 SH SOLE 0 0 451500
LABORATORY CORP CV PFD EXCH A 8.5 6/12 50540R201 2975 61331 SH SOLE 0 0 61331
LEGGETT & PLATT INC COMMON 524660107 7760 388000 SH SOLE 0 0 388000
LILLY ELI & CO COMMON 532457108 519 6110 SH SOLE 0 0 6110
LOWES COS INC COMMON 548661107 2662 44000 SH SOLE 0 0 44000
LUXOTTICA GROUP S P A DEPOSITORY RECEI 55068R202 155 12000 SH SOLE 0 0 12000
BELL ATL REG S EXCH(CWZ) SDCV 4.250 09/1 5520086 4335 3950000 PRN SOLE 0 0 3950000
MASCO CORP COMMON 574599106 7096 251190 SH SOLE 0 0 251190
MCDONALDS CORP COMMON 580135101 4554 100496 SH SOLE 0 0 100496
MELLON BK CORP COMMON 585509102 4413 62700 SH SOLE 0 0 62700
----- ------ ----- ----- ----- --- --- ------
COLUMN TOTALS
</TABLE>
<PAGE>
FORM 13F
REPORTING MANAGER: HAVEN CAPITAL MGMT
3/31/99
PAGE 5
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
INVESTMENT DISCRETION VOTING AUTHORITY
TITLE FAIR SHARES OF SHARED
NAME OF ISSUER OF CUSIP MARKET PRINCIPAL SOLE SHARED OTHER MANA- SOLE SHARED NONE
CLASS NUMBER VALUE AMOUNT (A) (B) (C) GERS (A) (B) (C)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
MERCK & CO INC COMMON 589331107 8855 110512 SH SOLE 0 0 110512
MINNESOTA MNG & MFG CO COMMON 604059105 5639 79705 SH SOLE 0 0 79705
MOBIL CORP COMMON 607059102 387 4400 SH SOLE 0 0 4400
BANGKOK BK (FORGN) THB 6077019 51 25000 SH SOLE 0 0 25000
MOLEX INC COMMON 608554101 4788 162981 SH SOLE 0 0 162981
MOLEX INC NON VTG. 608554200 724 27981 SH SOLE 0 0 27981
MORGAN J P & CO INC COMMON 616880100 2196 17800 SH SOLE 0 0 17800
MORRISON KNUDSEN CORP COMMON 61844A109 4344 437150 SH SOLE 0 0 437150
MOTOROLA INC COMMON 620076109 322 4400 SH SOLE 0 0 4400
NATIONAL AUSTRALIA BK LT DEPOSITORY RECEI 632525408 4594 50900 SH SOLE 0 0 50900
NEWBRIDGE NETWORKS CORP COMMON 650901101 282 8950 SH SOLE 0 0 8950
NORDSTROM INC COMMON 655664100 311 7600 SH SOLE 0 0 7600
NORTHWESTERN CORP COMMON 668074107 1945 75000 SH SOLE 0 0 75000
NOVELL INC COMMON 670006105 3670 145700 SH SOLE 0 0 145700
O'CHARLEY'S INC COMMON 670823103 2557 188550 SH SOLE 0 0 188550
OCEAN ENERGY INC TEX COMMON 67481E106 4918 721939 SH SOLE 0 0 721939
OFFICE DEPOT INC COMMON 676220106 854 22800 SH SOLE 0 0 22800
OMNIQUIP INTL INC COMMON 681969101 1845 157050 SH SOLE 0 0 157050
OPTIMARK TECHNOLOGIES SER B CV PART. P 683990204 150 15000 SH SOLE 0 0 15000
----- ------ ----- ----- ----- --- --- ------
COLUMN TOTALS
</TABLE>
<PAGE>
FORM 13F
REPORTING MANAGER: HAVEN CAPITAL MGMT
3/31/99
PAGE 6
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
INVESTMENT DISCRETION VOTING AUTHORITY
TITLE FAIR SHARES OF SHARED
NAME OF ISSUER OF CUSIP MARKET PRINCIPAL SOLE SHARED OTHER MANA- SOLE SHARED NONE
CLASS NUMBER VALUE AMOUNT (A) (B) (C) GERS (A) (B) (C)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
OWENS CORNING COMMON 69073F103 6577 206750 SH SOLE 0 0 206750
PFIZER INC COMMON 717081103 305 2200 SH SOLE 0 0 2200
PRAXAIR INC COMMON 74005P104 5835 161815 SH SOLE 0 0 161815
PROCTER & GAMBLE CO COMMON 742718109 2748 28060 SH SOLE 0 0 28060
PROVIDIAN FINL CORP COMMON 74406A102 396 3600 SH SOLE 0 0 3600
R & B FALCON CORP COMMON 74912E101 780 90486 SH SOLE 0 0 90486
RAYTHEON CO CL B CL B 755111408 5229 89200 SH SOLE 0 0 89200
READERS DIGEST ASSN INC CL A NON VTG 755267101 4788 152300 SH SOLE 0 0 152300
REGIONS FINL CORP COMMON 758940100 1257 36300 SH SOLE 0 0 36300
ROYAL DUTCH PETE CO NY REG SHARES 780257804 11586 222816 SH SOLE 0 0 222816
SBC COMMUNICATIONS INC COMMON 78387G103 2699 57200 SH SOLE 0 0 57200
STB SYS INC COMMON 784741100 872 111575 SH SOLE 0 0 111575
SAUER INC COMMON 804137107 2193 211400 SH SOLE 0 0 211400
SCHLUMBERGER LTD COMMON 806857108 5894 97926 SH SOLE 0 0 97926
SHERWIN WILLIAMS CO COMMON 824348106 3122 111000 SH SOLE 0 0 111000
SILGAN HOLDINGS INC COMMON 827048109 2022 121150 SH SOLE 0 0 121150
SILICON GRAPHICS INC COMMON 827056102 3627 219000 SH SOLE 0 0 219000
SONOCO PRODS CO COMMON 835495102 4691 203941 SH SOLE 0 0 203941
SOUTHERN FINC'L BANCORP COMMON 842870107 332 16321 SH SOLE 0 0 16321
----- ------ ----- ----- ----- --- --- ------
COLUMN TOTALS
</TABLE>
<PAGE>
FORM 13F
REPORTING MANAGER: HAVEN CAPITAL MGMT
3/31/99
PAGE 7
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
INVESTMENT DISCRETION VOTING AUTHORITY
TITLE FAIR SHARES OF SHARED
NAME OF ISSUER OF CUSIP MARKET PRINCIPAL SOLE SHARED OTHER MANA- SOLE SHARED NONE
CLASS NUMBER VALUE AMOUNT (A) (B) (C) GERS (A) (B) (C)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
SOVEREIGN BANCORP INC COMMON 845905108 3938 321440 SH SOLE 0 0 321440
THE SPORTS AUTHORITY INC COMMON 849176102 2838 388050 SH SOLE 0 0 388050
THE SPORTS AUTHORITY CVT REG."S" 5.25 849176AA0 1096 1565000 PRN SOLE 0 0 1565000
STRYKER CORP COMMON 863667101 3879 76900 SH SOLE 0 0 76900
SYSCO CORP COMMON 871829107 3300 125400 SH SOLE 0 0 125400
TELE-DANMARK A/S DEPOSITORY RECEI 879242105 3847 78500 SH SOLE 0 0 78500
TELEFONICA DE ESPANA S A DEPOSITORY RECEI 879382208 322 2520 SH SOLE 0 0 2520
TEXAS INSTRS INC COMMON 882508104 5200 52388 SH SOLE 0 0 52388
TOTAL S A ADR DEPOSITORY RECEI 89151E109 8294 135960 SH SOLE 0 0 135960
TRANSCANADA PIPELINES LT COMMON 893526103 4106 320500 SH SOLE 0 0 320500
UST CORP COMMON 902900109 1933 88485 SH SOLE 0 0 88485
US BANCORP DEL COMMON 902973106 3355 98500 SH SOLE 0 0 98500
UNION PAC RES GROUP INC COMMON 907834105 3136 264053 SH SOLE 0 0 264053
U S FILTER CORP COM NEW 911843209 2560 83604 SH SOLE 0 0 83604
V F CORP COMMON 918204108 4042 85100 SH SOLE 0 0 85100
VALEO DEPOSITORY RECEI 919134304 6093 77849 SH SOLE 0 0 77849
VERMONT FINL SVCS CORP COMMON 924180102 259 9178 SH SOLE 0 0 9178
WACHOVIA CORP COMMON 929771103 4345 53514 SH SOLE 0 0 53514
WAL MART STORES INC COMMON 931142103 387 4200 SH SOLE 0 0 4200
----- ------ ----- ----- ----- --- --- ------
COLUMN TOTALS
</TABLE>
<PAGE>
FORM 13F
REPORTING MANAGER: HAVEN CAPITAL MGMT
3/31/99
PAGE 8
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
INVESTMENT DISCRETION VOTING AUTHORITY
TITLE FAIR SHARES OF SHARED
NAME OF ISSUER OF CUSIP MARKET PRINCIPAL SOLE SHARED OTHER MANA- SOLE SHARED NONE
CLASS NUMBER VALUE AMOUNT (A) (B) (C) GERS (A) (B) (C)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
WASHINGTON GAS LT CO COMMON 938837101 2240 99000 SH SOLE 0 0 99000
WASTE MGMT INC DEL COMMON 94106L109 201 4531 SH SOLE 0 0 4531
WATTS INDS INC CL A 942749102 2746 202500 SH SOLE 0 0 202500
WEINGARTEN RLTY INVS SH BEN INT 948741103 3326 83929 SH SOLE 0 0 83929
WEYERHAEUSER CO COMMON 962166104 791 14250 SH SOLE 0 0 14250
WISCONSIN CENT TRANSN CO COMMON 976592105 1617 122000 SH SOLE 0 0 122000
AMDOCS LTD ORD G02602103 6457 298600 SH SOLE 0 0 298600
XL CAPITAL LTD CL A G98255105 4281 70476 SH SOLE 0 0 70476
NEW HOLLAND N V ORD N62648105 3746 365420 SH SOLE 0 0 365420
----- ------ ----- ----- ----- --- --- ------
COLUMN TOTALS
----- ------ ----- ----- ----- --- --- ------
REPORT TOTALS
===== ====== ===== ===== ===== === === ======
</TABLE>
