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 [ X]; Amendment Number: 1
This Amendment (Check only one.): [ X] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: ValueQuest/TA, LLC
Address: 18 Sewall Street
Marblehead, MA 01945
13F File Number: 28-1699
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: TERRENCE B. MAGRATH
Title: MANAGING DIRECTOR AND CEO
Phone: 781 417-7215
Signature, Place, and Date of Signing:
Terrence B. Magrath Marblehead, Mass. May 13, 1999
Report Type (Check only one.):
[ X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT
List of Other Managers Reporting for this Manager:
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934.
<PAGE>
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 73
Form 13F Information Table Value Total: 936632
List of Other Included Managers:
No. 13F File Number Name
<PAGE>
<TABLE>
VALUE SHARES/ SH/ PUT/INVSTMT VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000PRN AMT PRN CALLDISCRETN -MANAGERS- SOLE SHARED NONE
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
3Com Corp. COM 885535104 18016 772800 SH SOLE 296300 476500
Advanta A COM 7942105 4646 420018 SH SOLE 420018 0
Airtran Hldgs COM 00949P108 10251 2447900 SH SOLE 2299700 148200
Alcoa COM 13817101 18652 452844 SH SOLE 183156 269688
Amgen COM 31162100 21819 291400 SH SOLE 114600 176800
Andrew Corp COM 34425108 13022 1057600 SH SOLE 438500 619100
Asia Pulp & Pap SPONSORED ADR 04516V100 3712 443200 SH SOLE 65800 377400
Autodesk, Inc. COM 52769106 17716 438100 SH SOLE 172700 265400
Baker Hughes In COM 57224107 7894 324700 SH SOLE 73400 251300
Bank of America COM 60505104 14641 207304 SH SOLE 33245 174059
Bear Stearns COM 73902108 19014 425490 SH SOLE 172630 252860
British Air ADR SPONSORED ADR 110419306 3959 57684 SH SOLE 14784 42900
Canandaigua A COM 137219200 15475 307200 SH SOLE 104900 202300
Chase Manhattan COM 16161A108 13378 164400 SH SOLE 62500 101900
Chubb COM 171232101 2741 46800 SH SOLE 44600 2200
Cinergy COM 172474108 17157 623900 SH SOLE 253900 370000
CitiGroup COM 172967101 13995 219100 SH SOLE 44850 174250
Columbia Health COM 197677107 19283 1018250 SH SOLE 412100 606150
Commerzbank ADR UNSPONSORED ADR 202597308 61 2024 SH SOLE 2024 0
Compass Bancsh COM 20449H109 16743 485300 SH SOLE 198650 286650
Conseco COM 208464107 16014 518668 SH SOLE 217488 301180
Cooper Industri COM 216669101 16198 380000 SH SOLE 154700 225300
Dana Corp COM 235811106 14007 368600 SH SOLE 80700 287900
Delphi Auto COM 247126105 18476 1040900 SH SOLE 420800 620100
EDS COM 285661104 14752 303000 SH SOLE 58400 244600
Edwards AG Inc. COM 281760108 2680 82000 SH SOLE 69500 12500
EG&G COM 268457108 18230 691200 SH SOLE 285900 405300
Ethyl Corp. COM 297659104 10185 2396500 SH SOLE 1136600 1259900
Federal Nat Mtg COM 313586109 17555 253500 SH SOLE 100400 153100
FirstEnergy COM 337932107 17665 630900 SH SOLE 255900 375000
Flagstar Bancrp COM 337930101 7152 269900 SH SOLE 255500 14400
Gateway 2000 In COM 367833100 15296 223100 SH SOLE 74100 149000
Goodyear Tire & COM 382550101 15083 302800 SH SOLE 129600 173200
Great Lakes Chm COM 390568103 17662 480600 SH SOLE 195600 285000
GTE Corp. COM 362320103 10261 169600 SH SOLE 10000 159600
Harris Corp. COM 413875105 11942 417200 SH SOLE 182100 235100
Hewlett Packard COM 428236103 17096 252100 SH SOLE 102600 149500
Humana Health P COM 444859102 16889 979100 SH SOLE 399450 579650
Ingersoll-Rand COM 456866102 3351 67520 SH SOLE 48520 19000
Int'l Business COM 459200101 6665 37600 SH SOLE 6100 31500
Intel Corp. COM 458140100 11400 95900 SH SOLE 37300 58600
Liz Claiborne COM 539320101 19350 593100 SH SOLE 241600 351500
Magellan Health COM 559079108 6972 1664900 SH SOLE 611200 1053700
Mattel, Inc. COM 577081102 19678 789100 SH SOLE 318600 470500
Mellon Bank COM 585509102 19079 271100 SH SOLE 107600 163500
Merrill Lynch & COM 590188108 6947 78500 SH SOLE 300 78200
Nevada Power COM 641423108 14189 573300 SH SOLE 319200 254100
Newcourt ADR SPONSORED ADR 650905102 3432 126800 SH SOLE 17500 109300
News Corp ADR SPONSORED ADR 652487703 3639 123366 SH SOLE 15766 107600
PairGain Tech COM 695934109 5189 532200 SH SOLE 532200 0
Philip Morris COM 718154107 11886 337800 SH SOLE 69300 268500
Polaroid COM 731095105 20593 1020100 SH SOLE 412000 608100
Popular Inc COM 733174106 4826 156300 SH SOLE 144600 11700
Quantum Corp. COM 747906105 13561 753400 SH SOLE 304400 449000
Raytheon Cl B COM 755111408 21052 359100 SH SOLE 152100 207000
Ryland Group In COM 783764103 4301 169900 SH SOLE 169900 0
SAFECO COM 786429100 17732 438500 SH SOLE 182900 255600
SBC Com'cations COM 78387G103 12909 273562 SH SOLE 52400 221162
Schlumberger COM 806857108 7247 120400 SH SOLE 28000 92400
Seagate Technol COM 811804103 14657 495800 SH SOLE 186700 309100
Sears COM 812387108 16182 358100 SH SOLE 134500 223600
Shandong Huan SPONSORED ADR 819419102 2285 609200 SH SOLE 94100 515100
Smith Int'l COM 832110100 13560 339000 SH SOLE 177600 161400
Smurfit-Stone COM 832727101 19960 1033547 SH SOLE 418588 614959
Sprint COM 852061100 21224 216300 SH SOLE 87500 128800
St. Paul Cos. COM 792860108 9289 299048 SH SOLE 144742 154306
Telmex ADR SPONSORED ADR 879403780 7193 108980 SH SOLE 54380 54600
Texas Utilities COM 882848104 18896 449900 SH SOLE 182600 267300
Transocean COM 893817106 9779 339400 SH SOLE 178800 160600
Union Pacific R COM 907834105 25479 2145600 SH SOLE 869400 1276200
Washington Mutu COM 939322103 20041 490300 SH SOLE 193300 297000
Westpac Bnk ADR SPONSORED ADR 961214301 65 1774 SH SOLE 1774 0
Whitman Corp COM 96647K102 14709 855800 SH SOLE 340700 515100
