SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 4)*
Capstead Mortgage Corporation
(Name of Issuer)
Common Stock, par value $0.01 per share
(Title of Class and Securities)
14067E 10 0
(CUSIP Number of Class of Securities)
No fee is required with respect to this filing.
*The remainder of this cover page shall be filled out for
reporting person's initial filing on this form with respect to
the subject class of securities, and for any subsequent amendment
containing information which would alter the disclosures provided
in a prior cover page.
The information required in the remainder of this cover page
shall be deemed to be "filed" for the purpose of Section 18 of
the Securities Exchange Act of 1934 ("Act") or otherwise subject
to the liabilities of that section of the Act but shall be
subject to all other provisions of the Act (however, see the
Notes).
SCHEDULE 13G
CUSIP No. 14067E 10
(1) NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION
NOS. OF ABOVE PERSONS
Howard Hughes Medical Institute
I.R.S. Indemnification No.: 59-0735717
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) ( )
(b) ( )
Not applicable
(3) SEC USE ONLY
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
(5) SOLE VOTING POWER
1,175,780(includes, pursuant to
Rule 13d-3(d)(1)(i)(B), 175,780
shares that would be received upon
conversion of 550,000 shares of
issuer's series B convertible
preferred stock held by the
Institute)
NUMBER
OF (6) SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY (7) SOLE DISPOSITIVE POWER
EACH
REPORTING 1,175,780 (includes, pursuant to
PERSON WITH Rule 13d-3(d)(1)(i)(B), 175,780
shares that would be received upon
conversion of 550,000 shares of
issuer's series B convertible
preferred stock held by the
Institute)
(8) SHARED DISPOSITIVE POWER
0
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,175,780 (includes, pursuant to Rule 13d-3(d)(1)(i)(B), 175,780
shares that would be received upon conversion of 550,000 shares
of issuer's series B convertible preferred stock held by the
Institute)
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN
SHARES* ( )
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.6% (includes, pursuant to Rule 13d-3(d)(1)(i)(B), 175,780
shares that would be received upon conversion of 550,000 shares
of issuer's series B convertible preferred stock held by the
Institute)
(12) TYPE OF REPORTING PERSON*
EP
Item 1.
(a) Name of Issuer: Capstead Mortgage Corporation ("CMC").
(b) Address of Issuer's Principal Executive Offices: 2711
North Haskell, Dallas, Texas 75204
Item 2.
(a) Name of Person Filing: Howard Hughes Medical Institute.
(b) Address of Principal Business Office: 4000 Jones
Bridge Road, Chevy Chase, Maryland 20815-6789.
(c) Citizenship: Delaware corporation.
(d) Title of Class of Securities: Common Stock, par value
$0.01 per share, of CMC.
(e) CUSIP Number: 14067E 10 0.
Item 3. If this statement is being filed pursuant to Rule 13d-
1(b) or 13d-2(b), check whether the person filing is:
[X] Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of 1974
or Endowment Fund.
Item 4. Ownership.
(a) Amount beneficially Owned: 1,175,780, which includes,
pursuant to Rule 13d-3(d)(1)(i)(B), 175,780 shares that
would be received upon conversion of 550,000 shares of
issuer's series B convertible preferred stock held by
the Institute.
(b) Percent of Class: 7.6%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote:
1,175,780 (see item 4(a), above).
(ii) Shared power to vote or to direct the vote: 0.
(iii)Sole power to dispose or to direct the
disposition: 1,175,780 (see item 4(a), above).
(iv) Shared power to dispose or to direct the
disposition: 0.
Item 5. Ownership of Five Percent or Less of a Class: N/A.
Item 6. Ownership of More than Five Percent on Behalf of
Another Person: N/A.
Item 7. Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported on By the
Parent Holding Company: N/A.
Item 8. Identification and Classification of Members of the
Group: N/A.
Item 9. Notice of Dissolution of Group: N/A.
Item 10. Certification.
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the purpose
of and do not have the effect of changing or influencing the
control of the issuer of such securities and were not acquired in
connection with or as a participant in any transaction having
such purposes or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
statement is true, complete and correct.
Dated: February 14, 1995
HOWARD HUGHES MEDICAL INSTITUTE
By: \s\ Craig A. Alexander
Craig A. Alexander, Esq.
Deputy General Counsel
