REPORT FOR THE CALENDER QUARTER ENDED JUNE 30,1999
FIDUCIARY MANAGEMENT, INC.
225 EAST MASON STREET
MILWAUKEE, WI 53202
TED D. KELLNER, CFA
CHAIRMAN AND CEO
414-226-4545
THE INSITITUTIONAL INVESTMENT MANAGER SUBMITTING THIS FORM AND ITS
ATTACHMENTS AND THE PERSON BY WHOM IT I SIGNED REPRESENT HERBY THAT
ALL INFORMATION CONTAINED THERIN 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 MILWAUKEE AND STATE OF
WISCONSIN ON THE 30TH DAY OF JUNE 1999.
FIDUCIARY MANAGEMENT, INC.
TED D KELLNER, CFA
NAME AND 13F FILE NUMBERS OF ALL INSTITUTIONAL INVESTMENT MANAGERS
WITH RESPECT TO WHICH THIS SCHEDULE IS FILED.
1. RESOURCE BANK AND TRUST CO
2. HAROLD MCCOMAS - FOLEY AND LARDNER
FORM 13F
SUMMARY PAGE:
OTHER INSTITUTIONAL INVESTMENT MANAGERS TOTAL: 2
1. RESOURCE BANK AND TRUST CO
2. HAROLD MCCOMAS - FOLEY AND LARDNER
FORM 13F INFORMATION TABLE ENTRY TOTAL: 125
FORM 13F INFORMATION TABLE VALUE TOTAL: 855,812
FORM 13F
<TABLE>
"Name of Reporting Manager: Fiduciary Mangament, Inc."
Item I Item 2 Item 3 Item 4 Item 5 Item 6 Item 7 Item 8
<S> <C> <C> <C> <C> <C> <C< <C>
Name of Issuer Title Cusip Fair Shares/ (a)Sole (b) Shared (c)Shared see Sole Shared
M/V Prin Amt Other inst
ADC Telecom COM 000886101 1413 31,000 31,000 31,000
Abbott Lab COM 002824100 244 5,366 5,366 5,366
Affil Mgr Grp COM 008252108 1178 39,000 39,000 39,000
Alpine Grp COM 020825105 1125 70,000 70,000 70,000
Amcore Fincl COM 023912108 1960 84,972 84,972 84,972
Amoco Corp COM 055622104 206 1,897 1,897 1,897
Analyst Int'l COM 032681108 151 10,500 10,500 10,500
Anicom Inc COM 035250109 483 46,000 46,000 46,000
Applied Pwr COM 038225108 383 14,000 14,000 14,000
Aptar Group Inc COM 038336103 270 9,000 9,000 9,000
Arrow Elec COM 042735100 19062 1,003,250 891,850 111,400 891,850 111,400
Assctd Bancorp COM 045487105 28465 685,884 630,389 55,495 630,389 55,495
Autozone COM 053332102 21718 720,915 629,015 91,900 629,015 91,900
Baker Hughes COM 057224107 637 19,000 19,000 19,000
Bell & Howell COM 077852101 22555 596,490 500,590 95,900 500,590 95,900
Black Box Corp COM 091826107 17230 343,740 305,440 38,300 305,440 38,300
Blackhawk Bcorp COM 09237E105 506 37,412 37,412 37,412
Brady, W.H. CL A 104674106 15008 461,763 364,363 97,400 364,363 97,400
Burlington Res COM 122104103 13961 322,775 283,975 38,800 283,975 38,800
CGS Systems COM 126349109 262 10,000 10,000 10,000
CNA Surety COM 12612L108 408 26,600 26,600 26,600
Cable Design COM 126924109 155 10,000 10,000 10,000
Cambrex Corp COM 132011107 16550 630,440 555,040 75,400 555,040 75,400
Casella Waste COM 147448104 3293 126,650 89,650 37,000 89,650 37,000
Casey's Gen St COM 147528103 24867 1,657,748 1,452,248 205,500 1,452,248 205,500
Celestica Inc COM 15101Q108 650 15,000 15,000 15,000
Century Comm CL A 156503104 966 21,000 21,000 21,000
Channell Coml COM 159186105 165 16,500 16,500 16,500
Chicago Title COM 168228104 384 10,750 10,750 10,750
Consolidated St COM 210149100 20190 747,754 662,954 84,800 662,954 84,800
Covance Inc COM 222816100 18157 758,495 670,295 88,200 670,295 88,200
DII Group COM 232949107 1642 44,000 44,000 44,000
Delphi Fin'l Gr COM 247131105 13466 375,337 318,470 56,867 318,470 56,867
Dentsply Int'l COM 249030107 27065 937,309 837,009 100,300 837,009 100,300
Dura Automotive COM 265903104 1696 51,000 51,000 51,000
Exxon Corp COM 302290101 206 2,667 2,667 2,667
F&M Bancorp COM 302371109 586 15,500 15,500 15,500
Family Dollar COM 307000109 324 13,494 13,494 13,494
Fed Home Ln Mtg COM 313400301 1287 22,200 22,200 22,200
Fed Natl Mtg An COM 307160200 3792 55,556 55,556 55,556
Fin'l Sec Assur COM 31769P100 9848 189,370 164,670 164,670 24,700
First Data COM 319963104 17896 365,685 332,285 33,400 332,285 33,400
Fort James Corp COM 347471104 2464 65,053 60,653 4,400 60,653 4,400
Fox Entertain COM 35138T107 1132 42,000 42,000 42,000
Gen'l Semicond COM 370787103 320 35,000 35,000 35,000
Georgia Golf COM 373200203 827 49,000 49,000 49,000
Great Lakes Chm COM 390568103 18170 394,445 333,245 61,200 333,245 61,200
Grey AdvertisingCOM 397838103 8075 24,248 19,448 4,800 19,448 4,800
HNC Software COM 40425P107 1107 35,900 35,900 35,900
Haemonetics CorpCOM 405024100 7516 374,590 322,590 52,000 322,590 52,000
Heller Finance COM 423328103 1335 48,000 48,000 48,000
Hyperion TelecomCOM 44914K306 1449 77,000 77,000 77,000
Imax Corp COM 45245E109 876 38,900 38,900 38,900
Inco Ltd COM 453258402 720 40,000 40,000 40,000
Int'l Game Tech COM 459902102 5405 292,130 257,130 35,000 257,130 35,000
Jones IntercableCOM 480206200 504 10,500 10,500 10,500
Jones IntercableCL A 480206200 2651 54,100 54,100 54,100
Jostens Inc COM 481088102 548 26,000 26,000 26,000
Keane Inc COM 486665102 7202 318,320 277,420 40,900 277,420 40,900
KimberlyClark COM 494368103 337 5,900 5,900 5,900
Lechters Inc COM 523238103 135 53,750 53,750 53,750
LeCroy Corp COM 52324W109 687 29,000 29,000 29,000
Liqui Box COM 536314107 2819 52,430 49,830 2,600 49,830 2,600
Magna Grp 7% 99 CVDB 559214AB7 25 10,000 10,000 10,000
Mail-Well Inc COM 560321200 648 40,000 40,000 40,000
Manitowoc Inc COM 563571108 1834 44,050 44,050 44,050
Marshall&Ilsley COM 571834100 35233 547,302 547,302 547,302
Methode Elec CL A 591520200 21692 948,270 812,670 135,600 812,670 135,600
Microsoft Corp COM 594918104 287 3,180 3,180 3,180
Microtouch Sys COM 595145103 335 22,500 22,500 22,500
Millipore Corp COM 601073109 1011 24,900 24,900 24,900
Mineral Tech COM 603158106 14242 255,160 231,660 23,500 231,660 23,500
Modis Prof Svcs COM 607830106 14247 1,050,440 921,040 129,400 921,040 129,400
Molex Inc CL A 608554200 4695 149,040 149,080 149,040
Morrison Health COM 61841L108 7829 313,150 272,650 40,500 272,650 40,500
NFO Worldwide COM 62910N108 3636 259,670 256,770 2,900 256,770 2,900
Nat'l Data COM 635621105 7443 174,100 153,600 20,500 153,600 20,500
Nelson Thomas COM 640376109 439 39,440 37,340 2,100 37,340 2,100
Noble Affl COM 654894104 15630 554,490 479,790 74,700 479,790 74,700
OM Group COM 670872100 9155 265,340 234,640 30,700 234,640 30,700
Old Republic COM 680223104 14209 820,724 712,649 108,075 712,649 108,075
OmniPoint Corp COM 68212D102 869 30,000 30,000 30,000
Oshkosh Truck CL B 688239201 805 16,000 16,000 16,000
Parexel Int'l COM 699462107 420 31,500 31,500 31,500
Paxar Corp COM 704227107 12603 1,419,950 1,217,650 202,300 1,217,650 202,300
Penn Traffic COM 707832101 111 10,500 10,500 10,500
Pioneer Stndrd COM 723877106 28722 2,393,475 2,120,375 273,100 2,120,375 273,100
Pogo Producing COM 730448107 8439 453,090 408,090 45,000 408,090 45,000
Policy Mgmt COM 731108106 300 10,000 10,000 10,000
Pride Intn'l COM 741932107 946 89,500 89,500 89,500
Prime Bank TX COM 74157H108 179 10,000 10,000 10,000
Primedia Inc COM 74157K101 14864 877,560 704,760 172,800 704,760 172,800
Proctor & Gambl COM 742718109 536 6,000 6,000 6,000
Progressive Cor COM 743315103 1148 7,914 7,914 7,914
Prologis Tr COM 743410102 15155 748,358 656,158 92,200 656,158 92,200
Quest Diagostic COM 74834L100 685 25,000 25,000 25,000
Raychem Corp COM 754603108 504 13,600 13,600 13,600
Regal Beloit COM 758750103 13354 565,215 465,915 99,300 465,915 99,300
Reinsurance Grp CL A 759351208 838 25,000 25,000 25,000
Republic Svcs COM 760759100 15397 622,080 544,690 77,400 544,690 77,400
Reynolds & Reyn COM 761695105 14651 628,460 581,060 47,400 581,060 47,400
Romac Int'l COM 775835101 10036 1,130,710 992,310 138,400 992,310 138,400
Ross Stores COM 778296103 580 11,500 11,500 11,500
SantFe Snyder COM 80218K105 1160 145,000 145,000 145,000
Schein Henry COM 806407102 2187 69,000 69,000 69,000
Scholastic Corp COM 807066105 10690 211,160 182,860 28,300 182,860 28,300
Security Cap CL B 81413P204 8002 549,470 462,470 87,000 462,470 87,000
Sigma Aldrich COM 826552101 11914 345,950 315,350 30,600 315,350 30,600
Solutia Inc COM 834376105 491 23,000 23,000 23,000
Stein Mart COM 858375108 13413 1,430,720 1,243,920 186,800 1,243,920 186,800
Steris Corp COM 859152100 23553 1,215,620 1,060,120 155,500 1,060,120 155,500
SunGard Data COM 867363103 12862 372,790 327,690 45,100 327,690 45,100
Superior Svcs COM 868316100 16007 599,787 523,287 76,500 523,287 76,500
Sybron Corp COM 87114F106 23898 867,020 750,020 117,000 750,020 117,000
Telephone Data COM 879433100 8884 121,490 106,390 15,100 106,390 15,100
Tollgrade Comm COM 889542106 222 14,500 14,500 14,500
Tower Automtve COM 891707101 382 15,000 15,000 15,000
Union Bancshars COM 905403101 180 12,000 12,000 12,000
VWR Scientific COM 918435108 8228 224,250 223,250 1,000 223,250 1,000
Vishay IntertechCOM 928298108 879 41,847 41,847 41,847
Walgreen Co COM 931422109 389 13,220 13,220 13,220
Wallace Comput COM 932270101 20606 824,220 721,020 103,200 721,020 103,200
Wausau Paper COM 943317107 22551 1,252,816 1,100,066 152,750 1,100,066 152,750
Willis Lease COM 970646105 164 10,000 10,000 10,000
Ziff Davis COM 989511100 729 48,000 48,000 48,000
</TABLE>
