<PAGE>
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 [ ]; Amendment Number
This Amendment (Check only one): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Peregrine Capital Management Inc.
Address: LaSalle Plaza
800 LaSalle Avenue, Suite 1850
Minneapolis, MN 55402-2018
Form 13F File Number: 28-1523
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 B Mersky or Ronald G. Hoffman
Title: President Senior Vice President
Phone: (612) 343-7610 (612) 343-7635
Signature, Place, and Date of Signing:
/s/ Robert B. Mersky Minneapolis, MN April 19, 1999
[Signature] [City, State] [Date]
Report Type (Check only one):
[x] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager
are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported in this report, and all
holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this
reporting manager are reported in this report and a portion are reported by
other reporting manager(s).)
List of Other Managers Reporting for this Manager:
<PAGE>
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: NONE.
Form 13F Information Table Entry Total: 279
Form 13F Information Table Value Total: $5,379,616
(thousands)
List of Other Included Managers:
Provide a numbered list of the names(s) and Form 13F file number(s) of
all institutional investment managers with respect to which this report is
filed, other than the manager filing this report.
None.
<PAGE>
FORM 13F 3/31/99
Reporting Manager: Peregrine Capital Management
<TABLE>
<CAPTION>
Title Shares or Voting Authority
of Value Principal Sh/ Put/ Invstmt Other
Name of Issuer Class Cusip [$1,000] Amount Prn Call Dscretn Managers Sole Shared None
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A.C. NIELSEN COM 00483310 20,054 739300 SH DEFINED 289600 449700
ABGENIX COM 00339B10 6,806 450000 SH DEFINED 163600 286400
ABR INFORMATION SVCS COM 00077R10 19,858 1142900 SH DEFINED 462600 680300
ACCEPTANCE INS COS I COM 00430810 1,515 112224 SH DEFINED 9524 102700
ACXIOM COM 00512510 7,808 294660 SH DEFINED 24180 270480
ADAPTEC COM 00651F10 33,017 1447300 SH DEFINED 570700 876600
ADOBE SYSTEMS COM 00724F10 26,321 463800 SH DEFINED 191700 272100
AGOURON COM 00848810 24,622 435300 SH DEFINED 174300 261000
AGRIUM COM 00891610 1,651 179715 SH DEFINED 15815 163900
AK STEEL COM 00154710 2,049 90811 SH DEFINED 7911 82900
ALKERMES COM 01642T10 14,159 519600 SH DEFINED 106600 413000
ALTERNATIVE LIVING COM 02145K10 6,568 328400 SH DEFINED 138700 189700
AMCAST INDUSTRIAL COM 02339510 3,518 218200 SH DEFINED 123400 94800
AMER.CAP.STRATEGIES COM 02493710 7,604 444000 SH DEFINED 0 444000
AMERICA WEST HLDG CO COM 02365720 1,841 96575 SH DEFINED 8575 88000
AMERICAN AXLE COM 02406110 3,838 316500 SH DEFINED 14000 302500
AMERICAN INTL GROUP COM 02687410 152,489 1264156 SH DEFINED 314160 949996
AMERICAN ITAL PASTA COM 02707010 19,290 771600 SH DEFINED 306000 465600
AMERICAN POWER COM 02906610 10,147 375800 SH DEFINED 144600 231200
AMERICAN RETIREMENT COM 02891310 6,426 447000 SH DEFINED 67800 379200
AMERIGAS PRTNRS LP COM 03097510 7,979 400200 SH DEFINED 257200 143000
AMES DEPT STORES INC COM 03078950 2,945 79338 SH DEFINED 6938 72400
ANDOVER BANCORP INC COM 03425810 1,596 58828 SH DEFINED 5128 53700
ANESTA COM 03460310 11,374 504100 SH DEFINED 333600 170500
ANNUITY & LIFE RE* COM G0391010 20,748 907000 SH DEFINED 342800 564200
ARM FINANCIAL COM 00194410 1,411 94470 SH DEFINED 8470 86000
ARMCO INC COM 04217010 1,253 282400 SH DEFINED 24700 257700
ARTESYN COM 04312710 9,726 785900 SH DEFINED 315400 470500
ASSOCIATED MATERIALS COM 04570910 1,175 110600 SH DEFINED 9800 100800
</TABLE>
Page 1 of 9
<PAGE>
<TABLE>
<CAPTION>
Title Shares or Voting Authority
of Value Principal Sh/ Put/ Invstmt Other
Name of Issuer Class Cusip [$1,000] Amount Prn Call Dscretn Managers Sole Shared None
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ASTORIA FINL CORP COM 04626510 2,700 53995 SH DEFINED 4695 49300
ATMEL COM 04951310 34,927 2299700 SH DEFINED 955100 1344600
AUTOMATIC DATA COM 05301510 46,684 1128305 SH DEFINED 265026 863279
AVANT! COM 05348710 14,379 810100 SH DEFINED 308600 501500
AVISTA COM 05379B10 1,935 119105 SH DEFINED 10205 108900
AWARE COM 05453N10 10,218 217400 SH DEFINED 138300 79100
BANKNORTH GRP INC DE COM 06646L10 1,804 63866 SH DEFINED 5700 58166
BARR LABS COM 06830610 10,309 338000 SH DEFINED 36900 301100
BAYVIEW CAPITAL COM 07262L10 1,814 96100 SH DEFINED 32600 63500
BEA SYSTEMS COM 07332510 20,366 1303400 SH DEFINED 516900 786500
BEC ENERGY COM 05538M10 1,940 52793 SH DEFINED 4593 48200
BERKLEY W R CORP COM 08442310 1,568 64010 SH DEFINED 5510 58500
BINDVIEW COM 09032710 3,903 125400 SH DEFINED 35000 90400
BIOMATRIX COM 09060P10 8,408 107800 SH DEFINED 36000 71800
BIOVAIL* COM 09067K10 12,543 325800 SH DEFINED 21900 303900
BOWNE & CO INC COM 10304310 1,344 115003 SH DEFINED 10103 104900
BOYD GAMING CORP COM 10330410 1,890 444725 SH DEFINED 40825 403900
BROOKDALE LIVING CMN COM 11246210 5,779 335000 SH DEFINED 193700 141300
BROWN GROUP COM 11565710 11,009 834800 SH DEFINED 314600 520200
BSB BANCORP COM 05565210 1,415 58105 SH DEFINED 5064 53041
CALPINE CORP COM 13134710 3,641 99911 SH DEFINED 8721 91190
CAPITAL AUTOMOTIVE COM 13973310 11,260 905300 SH DEFINED 241700 663600
CAPITAL SR LIVING COM 14047510 3,524 499000 SH DEFINED 201900 297100
CARDINAL HEALTH COM 14149Y10 45,533 689900 SH DEFINED 159450 530450
CAREER EDUCATION COM 14166510 3,463 100000 SH DEFINED 64800 35200
CARPENTER TECHNOLOGY COM 14428510 919 35422 SH DEFINED 3122 32300
CENTRAL VT PUB SVC COM 15577110 2,063 205067 SH DEFINED 17767 187300
CENTURY COMMUN. COM 15650310 5,828 125500 SH DEFINED 53400 72100
CERUS COM 15708510 5,563 250000 SH DEFINED 59900 190100
CHASE INDS INC COM 16156810 775 101589 SH DEFINED 8539 93050
CHEESECAKE FACTORY COM 16307210 19,829 834900 SH DEFINED 343400 491500
CHIQUITA BRANDS COM 17003210 16,070 1577400 SH DEFINED 615800 961600
CHIREX COM 17003810 7,250 295900 SH DEFINED 175000 120900
CINTAS COM 17290810 67,722 1035900 SH DEFINED 286500 749400
</TABLE>
Page 2 of 9
<PAGE>
<TABLE>
<CAPTION>
Title Shares or Voting Authority
of Value Principal Sh/ Put/ Invstmt Other
Name of Issuer Class Cusip [$1,000] Amount Prn Call Dscretn Managers Sole Shared None
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
CISCO SYS INC COM 17275R10 213,055 1944600 SH DEFINED 524225 1420375
CMAC COM 12566210 30,502 782100 SH DEFINED 288000 494100
COCA COLA CO COM 19121610 55,686 907300 SH DEFINED 210600 696700
COMMERCIAL FEDERAL COM 20164710 2,236 96444 SH DEFINED 8269 88175
COMMERCIAL METALS CO COM 20172310 972 48590 SH DEFINED 4490 44100
COMMONWEALTH BANCORP COM 20268X10 1,639 107891 SH DEFINED 9391 98500
COMMUNITY BK SYS INC COM 20360710 1,578 66285 SH DEFINED 5884 60401
COMMUNITY SAVINGS COM 20403710 5,538 443000 SH DEFINED 295100 147900
COMPLETE BUSINESS COM 20452F10 11,985 610700 SH DEFINED 256200 354500
CONMED COM 20741010 2,953 95273 SH DEFINED 8473 86800
COOPER COMPANIES COM 21664840 2,093 136136 SH DEFINED 11936 124200
COST PLUS COM 22148510 7,927 269850 SH DEFINED 170400 99450
COULTER PHARMACEUTIC COM 22211610 5,568 256000 SH DEFINED 64800 191200
CSK AUTO COM 12596510 19,935 665900 SH DEFINED 234400 431500
CYMER COM 23257210 12,537 630800 SH DEFINED 248800 382000
CYTEC INDS INC COM 23282010 1,587 71130 SH DEFINED 6330 64800
CYTYC COM 23294610 4,962 357600 SH DEFINED 67200 290400
DAL-TILE COM 23426R10 10,952 1208500 SH DEFINED 605900 602600
DAMES & MOORE INC COM 23571310 2,032 181628 SH DEFINED 16028 165600
DATA GENERAL COM 23768810 4,825 476559 SH DEFINED 148859 327700
DEL MONTE COM 24522P10 13,219 1002400 SH DEFINED 322100 680300
DELIAS COM 24688510 551 17500 SH DEFINED 0 17500
DIAMOND TECH PNTRS COM 25276210 7,571 328300 SH DEFINED 147500 180800
DISNEY WALT PRODTNS COM 25468710 30,941 994090 SH DEFINED 219300 774790
DM MANAGEMENT COM 23323310 7,031 450000 SH DEFINED 0 450000
DOLLAR THRIFTY GROUP COM 25674310 15,570 902600 SH DEFINED 369800 532800
DONALDSON LUFKIN JEN COM 25766110 52,891 758300 SH DEFINED 189200 569100
DST SYSTEMS COM 23332610 34,566 575500 SH DEFINED 167700 407800
DURA AUTOMOTIVE COM 26590310 16,074 569000 SH DEFINED 320500 248500
EL PASO ELEC CO COM 28367785 2,452 321574 SH DEFINED 28574 293000
ELAN PLC* COM 28413120 0 0 SH DEFINED 0 0
EMPI INC COM 29158610 2,074 95901 SH DEFINED 8224 87677
ENGINEERING ANIM. COM 29287210 8,265 196200 SH DEFINED 46200 150000
EVEREST REINS HLDGS COM 29980810 21,691 695500 SH DEFINED 267500 428000
</TABLE>
Page 3 of 9
<PAGE>
<TABLE>
<CAPTION>
Title Shares or Voting Authority
of Value Principal Sh/ Put/ Invstmt Other
Name of Issuer Class Cusip [$1,000] Amount Prn Call Dscretn Managers Sole Shared None
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
FARM FAMILY HLDGS IN COM 30790110 2,315 72929 SH DEFINED 6329 66600
FASTENAL CO COM 31190010 9,632 274700 SH DEFINED 82200 192500
FEDERAL MOGUL COM 31354910 898 21000 SH DEFINED 21000 0
FIBERMARK INC COM 31564610 1,192 100882 SH DEFINED 8757 92125
FIRST DATA CORP COM 31996310 27,770 649600 SH DEFINED 147300 502300
FIRST REPUBLIC BANK COM 33615810 2,082 86302 SH DEFINED 7502 78800
FIRSTFED FINL CORP D COM 33790710 2,194 136588 SH DEFINED 11888 124700
FISERV COM 33773810 47,745 890350 SH DEFINED 264375 625975
FOODMAKER COM 34483920 25,418 996800 SH DEFINED 276000 720800
FORE SYSTEMS COM 34544910 45,672 2415700 SH DEFINED 996000 1419700
FRANKLIN RES INC COM 35461310 57,769 2054000 SH DEFINED 516600 1537400
FSI INTL COM 30263310 233 38900 SH DEFINED 12800 26100
FURNITURE BRANDS COM 36092110 7,777 351500 SH DEFINED 139700 211800
GARTNER GROUP NEW COM 36665110 14,065 623400 SH DEFINED 151600 471800
GASONICS COM 36727810 6,093 553900 SH DEFINED 242100 311800
GENESCO COM 37153210 2,213 239225 SH DEFINED 21225 218000
GENZYME COM 37291710 46,690 925700 SH DEFINED 379700 546000
GLEASON CORP COM 37733910 1,709 100889 SH DEFINED 8729 92160
GLENBOROUGH COM 37803P10 2,204 129675 SH DEFINED 11175 118500
GLOBAL IMAGING COM 37934A10 3,007 225900 SH DEFINED 225900 0
GLOBAL INDUSTRIAL TE COM 37933510 941 90681 SH DEFINED 8381 82300
GLOBALSTAR* COM G3930H10 17,899 1290000 SH DEFINED 513900 776100
GOLDEN STATE BANC COM 38119710 10,638 478100 SH DEFINED 184300 293800
GOODY'S COM 38258810 7,335 526300 SH DEFINED 146900 379400
GRADALL INDUSTRIES I COM 38411P10 750 57700 SH DEFINED 5300 52400
GREY ADVERTISING INC COM 39783810 1,752 5050 SH DEFINED 425 4625
GRIFFON COM 39843310 1,132 164698 SH DEFINED 14698 150000
GROUPMAC COM 39943E10 4,370 384200 SH DEFINED 313200 71000
GSB LITIGATION WTS COM 38119713 6,637 1370200 SH DEFINED 519000 851200
GULFSTREAM AEROSPACE COM 40273410 56,483 1302200 SH DEFINED 527400 774800
HANDLEMAN COM 41025210 13,198 986800 SH DEFINED 402300 584500
HANGER ORTHOPEDIC COM 41043F20 2,471 183000 SH DEFINED 149500 33500
HARLEYSVILLE GROUP I COM 41282410 2,040 105290 SH DEFINED 9112 96178
HARMAN INT'L COM 41308610 2,202 59931 SH DEFINED 5231 54700
</TABLE>
Page 4 of 9
<PAGE>
<TABLE>
<CAPTION>
Title Shares or Voting Authority
of Value Principal Sh/ Put/ Invstmt Other
Name of Issuer Class Cusip [$1,000] Amount Prn Call Dscretn Managers Sole Shared None
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
HCC INSURANCE COM 40413210 2,520 130926 SH DEFINED 11226 119700
HEALTHCARE RLTY TR COM 42194610 2,138 112550 SH DEFINED 9750 102800
HEICO COM 42280620 6,498 304000 SH DEFINED 70800 233200
HELLER FINANCIAL COM 42332810 25,796 1097700 SH DEFINED 463300 634400
HI / FN COM 42835810 10,646 283900 SH DEFINED 214900 69000
HMT TECHNOLOGY COM 40391710 951 271793 SH DEFINED 24393 247400
HOME DEPOT INC COM 43707610 132,829 2133806 SH DEFINED 524638 1609168
HORIZON ORGANIC COM 44043T10 1,556 105500 SH DEFINED 105500 0
HUFFY CORP COM 44435610 1,453 121118 SH DEFINED 10918 110200
HUTCHINSON TECH. COM 44840710 3,358 135000 SH DEFINED 46100 88900
ICN PHARMACEUTICALS COM 44892410 50,157 1996300 SH DEFINED 823200 1173100
IMCLONE COM 45245W10 9,619 570000 SH DEFINED 191000 379000
IMR GLOBAL COM 45321W10 4,502 271400 SH DEFINED 4800 266600
IMS HEALTH INC COM 44993410 116,476 3516250 SH DEFINED 895350 2620900
INHALE THERAPEUTIC COM 45719110 3,119 115000 SH DEFINED 82000 33000
INTEGRATED ELECTRIC COM 45811E10 3,602 225100 SH DEFINED 131100 94000
INTEL COM 45814010 173,695 1461160 SH DEFINED 373960 1087200
INTEL. POLYMERS* COM 45815V20 2,724 97300 SH DEFINED 13400 83900
INTERFACE INC COM 45866510 2,309 239931 SH DEFINED 21331 218600
INTERMET CORP COM 45881K10 2,051 153312 SH DEFINED 13212 140100
INTRAWEST* COM 46091520 24,202 1434200 SH DEFINED 545000 889200
JOHNSTOWN AMER COM 47947710 1,504 101100 SH DEFINED 8800 92300
KORN FERRY COM 50064320 7,811 595100 SH DEFINED 450900 144200
L.M. ERICSSON COM 29482140 94,717 3977600 SH DEFINED 872100 3105500
LINCARE COM 53279110 14,144 502900 SH DEFINED 209900 293000
LMI AEROSPACE COM 50207910 1,051 182715 SH DEFINED 16115 166600
LONE STAR TECHNOLOGI COM 54231210 1,573 121010 SH DEFINED 10410 110600
LUCENT COM 54946310 123,487 1143400 SH DEFINED 277600 865800
MAIL WELL COM 56032120 2,290 171200 SH DEFINED 15000 156200
MARINE DRILLING COM 56824020 1,326 120575 SH DEFINED 10813 109762
MAXTOR COM 57772920 1,942 275000 SH DEFINED 108300 166700
MCKESSON CORP COM 58155710 50,900 771207 SH DEFINED 192693 578514
MCN CORP COM 55267J10 1,961 122116 SH DEFINED 10716 111400
MEDFORD BANCORP INC COM 58413110 1,387 86684 SH DEFINED 7673 79011
</TABLE>
Page 5 of 9
<PAGE>
<TABLE>
<CAPTION>
Title Shares or Voting Authority
of Value Principal Sh/ Put/ Invstmt Other
Name of Issuer Class Cusip [$1,000] Amount Prn Call Dscretn Managers Sole Shared None
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
MEDTRONIC INC COM 58505510 128,642 1789800 SH DEFINED 453200 1336600
MERCK & CO INC COM 58933110 89,296 1114460 SH DEFINED 254260 860200
MERITOR AUTO COM 59000G10 1,793 115705 SH DEFINED 10105 105600
MERKERT COM 59008010 1,690 155379 SH DEFINED 13579 141800
METZLER GROUP COM 59290310 23,393 745600 SH DEFINED 305900 439700
MI SCHOTTENSTEIN COM 55305B10 1,394 78520 SH DEFINED 7193 71327
MICREL SEMI COM 59479310 15,304 305700 SH DEFINED 86700 219000
MICRO WAREHOUSE COM 59501B10 1,003 62210 SH DEFINED 5510 56700
MICROSEMICONDUCTOR COM 59513710 1,134 142302 SH DEFINED 12602 129700
MICROSOFT CORP COM 59491810 281,979 3146210 SH DEFINED 763750 2382460
MIDWAY GAMES INC COM 59814810 1,100 126624 SH DEFINED 11124 115500
MILLENNIUM COM 59990210 16,381 524200 SH DEFINED 201400 322800
MONY GROUP COM 61533710 2,045 82211 SH DEFINED 7091 75120
MSC INDUSTRIAL COM 55353010 6,902 406000 SH DEFINED 115500 290500
MUSICLAND COM 62758B10 9,834 1092700 SH DEFINED 453500 639200
NATIONAL R.V. COM 63727710 5,526 249750 SH DEFINED 181700 68050
NATIONAL STL CORP COM 63784430 2,090 253340 SH DEFINED 17882 235458
NEWHALL LD & FARMING COM 65142610 34,583 1448500 SH DEFINED 646900 801600
NYMAGIC INC COM 62948410 886 68173 SH DEFINED 6073 62100
OCULAR SCIENCES COM 67574410 9,369 326600 SH DEFINED 128100 198500
OFFICE DEPOT INC COM 67622010 61,978 1655500 SH DEFINED 451200 1204300
OGDEN CORP COM 67634610 2,232 92763 SH DEFINED 8063 84700
ORTHODONTIC CTRS COM 68750P10 24,781 1573400 SH DEFINED 613000 960400
OXFORD INDS INC COM 69149730 1,222 50118 SH DEFINED 4418 45700
PAYCHEX INC COM 70432610 55,413 1168122 SH DEFINED 327939 840183
PENTAIR COM 70963110 48,401 1434100 SH DEFINED 585500 848600
PEP BOYS COM 71327810 24,792 1625700 SH DEFINED 643000 982700
PERCLOSE COM 71361C10 3,271 105500 SH DEFINED 105500 0
PETSMART COM 71676810 29,390 3659500 SH DEFINED 1490600 2168900
PFIZER INC COM 71708110 160,638 1157750 SH DEFINED 318850 838900
PHYSICIAN RELIANCE COM 71940G10 5,746 676000 SH DEFINED 226100 449900
PINNACLE SYSTEMS COM 72348110 13,727 301700 SH DEFINED 69900 231800
PMC SIERRA COM 69344F10 9,738 136800 SH DEFINED 45200 91600
POWELL INDS INC COM 73912810 1,337 151665 SH DEFINED 13165 138500
</TABLE>
Page 6 of 9
<PAGE>
<TABLE>
<CAPTION>
Title Shares or Voting Authority
of Value Principal Sh/ Put/ Invstmt Other
Name of Issuer Class Cusip [$1,000] Amount Prn Call Dscretn Managers Sole Shared None
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
POWERHOUSE TECH COM 73932310 2,256 131240 SH DEFINED 11840 119400
PRIDE INTL COM 74193210 1,178 142740 SH DEFINED 12440 130300
PUBLIC SVC CO N MEX COM 74449910 1,722 101303 SH DEFINED 9003 92300
PULASKI FURNITURE COM 74555310 2,257 110100 SH DEFINED 110100 0
PXRE CORP COM 69367410 1,320 73353 SH DEFINED 6354 66999
RAGEN MACKENZIE COM 75064210 1,761 151458 SH DEFINED 13158 138300
RCM TECHNOLOGIES COM 74936040 3,249 295400 SH DEFINED 122400 173000
REGIS COM 75893210 12,341 463500 SH DEFINED 197300 266200
REHABCARE GROUP COM 75914810 1,975 131132 SH DEFINED 11332 119800
RELIANCE BANCORP INC COM 75945110 2,114 73530 SH DEFINED 6330 67200
RENAL CARE GROUP COM 75993010 5,642 287500 SH DEFINED 121900 165600
RENTAL SERVICE COM 76009V10 20,979 1198800 SH DEFINED 449200 749600
RENT-WAY COM 76009U10 21,869 911211 SH DEFINED 335125 576086
RESCARE COM 76094310 16,852 746900 SH DEFINED 290600 456300
RESTORATION HARDWARE COM 76098110 8,529 387700 SH DEFINED 175600 212100
RICHFOOD HLDGS INC COM 76340810 1,929 89458 SH DEFINED 7858 81600
RIGGS NATIONAL COM 76657010 14,801 877100 SH DEFINED 347700 529400
ROCHESTER GAS &ELEC COM 77136710 1,629 63567 SH DEFINED 5567 58000
ROSLYN BANCORP COM 77816210 20,333 1204900 SH DEFINED 479700 725200
RTI INT'L METALS COM 74973W10 814 81361 SH DEFINED 7861 73500
SCHLUMBERGER LTD COM 80685710 20,891 347100 SH DEFINED 81100 266000
SCHOOL SPECIALTY COM 80786310 12,716 650000 SH DEFINED 258600 391400
SCHWAB CHARLES CP NE COM 80851310 298,074 3100900 SH DEFINED 796750 2304150
SCP POOL COM 78402810 6,612 472250 SH DEFINED 307650 164600
SEA CONTAINERS* COM 81137170 21,783 754400 SH DEFINED 301200 453200
SEACOR SMIT COM 81190410 1,922 35713 SH DEFINED 3113 32600
SEAGATE TECHNOLOGY COM 81180410 15,532 525400 SH DEFINED 221400 304000
SERENA SOFTWARE COM 81749210 4,145 296100 SH DEFINED 155500 140600
SHOPKO COM 82491110 1,422 47583 SH DEFINED 4283 43300
SKYWEST COM 83087910 18,636 645400 SH DEFINED 288400 357000
SNYDER COMMUNICATION COM 83291410 43,750 1569500 SH DEFINED 647500 922000
SOLECTRON COM 83418210 95,940 1975600 SH DEFINED 524500 1451100
SOUTHERN ENERGY COM 84281410 1,084 201599 SH DEFINED 17999 183600
SPEEDFAM COM 84770610 3,727 310600 SH DEFINED 107800 202800
</TABLE>
Page 7 of 9
<PAGE>
<TABLE>
<CAPTION>
Title Shares or Voting Authority
of Value Principal Sh/ Put/ Invstmt Other
Name of Issuer Class Cusip [$1,000] Amount Prn Call Dscretn Managers Sole Shared None
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
SPS TECHNOLOGIES COM 78462610 11,610 295800 SH DEFINED 50900 244900
STANDARD COML TOB IN COM 85325810 1,389 292490 SH DEFINED 25437 267053
STANDARD PAC CORP NE COM 85375C10 1,842 143054 SH DEFINED 12654 130400
STAPLES COM 85503010 114,412 3480225 SH DEFINED 897850 2582375
STEINMART COM 85837510 4,320 432000 SH DEFINED 80800 351200
STERIS COM 85915210 26,082 979600 SH DEFINED 406700 572900
STEVE MADDEN COM 55626910 1,780 211000 SH DEFINED 211000 0
STEWART ENTERPRISES COM 86037010 25,678 1598600 SH DEFINED 539000 1059600
SUNGARD DATA SYS INC COM 86736310 30,928 773200 SH DEFINED 239300 533900
SUNRISE ASSISTED LIV COM 86768K10 12,994 285200 SH DEFINED 117300 167900
SUR MODICS COM 86887310 1,061 75800 SH DEFINED 75800 0
SWIFT TRANSPORTATION COM 87075610 15,739 615700 SH DEFINED 243100 372600
SYKES ENTERPRISES COM 87123710 25,827 799300 SH DEFINED 315700 483600
SYMANTEC COM 87150310 1,454 85831 SH DEFINED 7667 78164
SYNOPSYS COM 87160710 52,594 978500 SH DEFINED 400700 577800
T. ROWE PRICE COM 74147710 74,515 2167700 SH DEFINED 590800 1576900
TACO CABANA COM 87342510 3,147 357100 SH DEFINED 295400 61700
TECH SYM CORP COM 87830810 1,327 63745 SH DEFINED 5745 58000
TESORO PETE COM 88160910 1,148 104345 SH DEFINED 8795 95550
TEVA PHARMACEU* COM 88162420 59,468 1253600 SH DEFINED 518000 735600
TEXAS INDUSTRIES COM 88249110 1,285 51778 SH DEFINED 4478 47300
THE BOYDS COLLECTION COM 10335410 16,497 916500 SH DEFINED 386500 530000
TNP ENTERPRISES INC COM 87259410 1,642 57101 SH DEFINED 5101 52000
TOMMY HILFIGER* COM G8915Z10 44,369 644200 SH DEFINED 260900 383300
TORO COM 89109210 9,742 310500 SH DEFINED 162200 148300
TOWER AUTOMOTIVE COM 89170710 38,634 2074300 SH DEFINED 824400 1249900
TOWNE SERVICES COM 89214810 287 29200 SH DEFINED 29200 0
TRACTOR SUPPLY CO COM 89235610 1,006 39360 SH DEFINED 3460 35900
TRAMMELL CROW COM 89288R10 3,700 200000 SH DEFINED 25000 175000
TRISTAR AEROSPACE CO COM 89674L10 1,615 177037 SH DEFINED 15785 161252
TRIUMPH GROUP COM 89681810 6,589 280400 SH DEFINED 169300 111100
UNION BANCAL COM 90890610 37,322 1095700 SH DEFINED 456300 639400
UNITED INT'L HOLDING COM 91073410 43,235 993900 SH DEFINED 442700 551200
US FREIGHTWAYS COM 91690610 27,303 830500 SH DEFINED 326700 503800
</TABLE>
Page 8 of 9
<PAGE>
<TABLE>
<CAPTION>
Title Shares or Voting Authority
of Value Principal Sh/ Put/ Invstmt Other
Name of Issuer Class Cusip [$1,000] Amount Prn Call Dscretn Managers Sole Shared None
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
US HOME COM 91192010 1,569 48083 SH DEFINED 4183 43900
VALASSIS COMMUNICATI COM 91886610 45,400 877300 SH DEFINED 332400 544900
VIRGINIA CAPITAL COM 92775810 6,313 500000 SH DEFINED 230600 269400
VISHAY INTERTECH COM 92829810 1,590 109687 SH DEFINED 9387 100300
WARNER LAMBERT CO COM 93448810 44,374 669800 SH DEFINED 156200 513600
WATSCO COM 94262220 2,208 151000 SH DEFINED 116200 34800
WEBSTER FINL CORP CO COM 94789010 2,470 85550 SH DEFINED 7550 78000
WESTERN WIRELESS COM 95988E20 23,523 648900 SH DEFINED 111400 537500
WINSTON HOTELS INC COM 97563A10 1,819 223890 SH DEFINED 19490 204400
WYMAN GORDON CO COM 98308510 1,833 198144 SH DEFINED 17244 180900
XILINX COM 98391910 32,941 812100 SH DEFINED 336500 475600
ZDNET GROUP COM 98951120 1,800 50000 SH DEFINED 24250 25750
</TABLE>
Page 9 of 9
