[TEXT] UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: December 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: Gulf Investment Management, Inc.
Address: 820 Gessner
Suite 720
Houston, Tx 77024
13F File Number: 000792016
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: T.C. Toomey
Title: Managing Director
Phone: 713 461 0660
Signature, Place and Date of Signing:
T.C. Toomey Houston, Texas January 4, 2000
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.
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FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
For 13F Information Table Entry Total: 122
Form 13F Information Table Value Total: 1,925,868,000
List of Other Included Managers:
No. 13F File Number Name
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<TABLE>
FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
A.T. & T. CORPORATION COM 001957109 90577 1782572 SH SOLE 1782572
381 7500 SH OTHER 7500
ABBOTT LABS COM 002824100 10069 277290 SH SOLE 277290
ALBERTSON'S COM 013104104 50771 1574288 SH SOLE 1574288
ALCOA, INC. COM 013817101 127708 1538645 SH SOLE 1538645
AMERICAN EXPRESS COM 025816109 136170 819067 SH SOLE 819067
AMERICAN GENERAL COM 026351106 74588 983040 SH SOLE 983040
455 6000 SH OTHER 6000
AMERICAN GREETINGS CLASS A COM 026375105 3131 132530 SH SOLE 132530
AMERICAN HOME PRODUCTS COM 026609107 220 5610 SH SOLE 5610
466 11872 SH OTHER 11872
ATLANTIC RICHFIELD COM 048825103 45313 523855 SH SOLE 523855
AVON PRODUCTS COM 054303102 413 12524 SH SOLE 12524
BANC ONE CORP. COM 06423A103 2641 82520 SH SOLE 82520
BANK OF AMERICA CORP. COM 060505104 62568 1246694 SH SOLE 1246694
BAXTER INTERNATIONAL COM 071813109 71554 1139166 SH SOLE 1139166
474 7549 SH OTHER 7549
BECKMAN COULTER, INC. COM 075811109 2518 49500 SH SOLE 49500
BELDEN, INC. COM 077459105 4015 191202 SH SOLE 191202
BELL ATLANTIC COM 077853109 6617 107485 SH SOLE 107485
BOMBAY CO. COM 097924104 49 10887 SH SOLE 10887
BP AMOCO PLC COM 055622104 4430 74687 SH SOLE 74687
BRISTOL MYERS COM 110122108 76689 1194758 SH SOLE 1194758
BURLINGTON RESOURCES COM 122014103 20205 611127 SH SOLE 611127
20 600 SH OTHER 600
CAMDEN PROPERTY TRUST COM 133131102 429 15450 SH SOLE 15450
CBS CORP. COM 12490K107 7327 114600 SH SOLE 114600
230 3600 SH OTHER 3600
CHAMPION INTERNATIONAL COM 158525105 214 3450 SH SOLE 3450
CHASE MANHATTAN CORP. COM 16161A108 86499 1113417 SH SOLE 1113417
CHEVRON COM 166751107 65292 753731 SH SOLE 753731
312 3600 SH OTHER 3600
CHUBB CORP. COM 171232101 66166 1174986 SH SOLE 1174986
COCA COLA COM 191216100 775 13300 SH SOLE 13300
1227 21066 SH OTHER 21066
CONOCO, INC. CLASS A COM 208251306 1547 62500 SH SOLE 62500
DELPHI AUTOMOTIVE SYS. COM 247126105 41237 2618196 SH SOLE 2618196
44 2795 SH OTHER 2795
DUKE ENERGY CORP. COM 264399106 5473 109180 SH SOLE 109180
209 4177 SH OTHER 4177
DUPONT COM 263534109 74492 1130811 SH SOLE 1130811
184 2800 SH OTHER 2800
EASTMAN KODAK COM 277461109 4980 75174 SH SOLE 75174
30 450 SH OTHER 450
ELECTRONIC DATA SYSTEMS COM 285661104 92383 1380145 SH SOLE 1380145
EXXON MOBIL COM 30231G102 2690 33387 SH SOLE 33387
483 6000 SH OTHER 6000
FEDERAL NAT'L MORTGAGE ASSN. COM 313586109 512 8200 SH SOLE 8200
GANNETT INC. COM 364730101 82921 1016659 SH SOLE 1016659
245 3000 SH OTHER 3000
GENERAL ELECTRIC COM 369604103 1380 8920 SH SOLE 8920
1486 9600 SH OTHER 9600
GENERAL MILLS COM 370334104 808 22600 SH SOLE 22600
GENERAL MOTORS COM 370442105 5357 73700 SH SOLE 73700
291 4000 SH OTHER 4000
GEORGIA PACIFIC COM 373298108 223 4400 SH SOLE 4400
122 2400 SH OTHER 2400
GTE CORP COM 362320103 2994 42425 SH SOLE 42425
HALLIBURTON COMPANY COM 406216101 985 24480 SH SOLE 24480
225 5600 SH OTHER 5600
HANCOCK FABRICS COM 409900107 409 130800 SH SOLE 130800
HEWLETT PACKARD COM 428236103 702 6175 SH SOLE 6175
INTEL COM 458140100 88520 1075417 SH SOLE 1075417
1580 19200 SH OTHER 19200
INTL. BUSINESS MACHINES COM 459200101 6144 56951 SH SOLE 56951
431 4000 SH OTHER 4000
JOHNSON & JOHNSON COM 478160104 476 5100 SH SOLE 5100
JOHNSON CONTROLS COM 478366107 318 5600 SH SOLE 5600
KIMBERLY-CLARK CORPORATION COM 494368103 8561 130832 SH SOLE 130832
LEE ENTERPRISES COM 523768109 8573 268443 SH SOLE 268443
LUBY'S INC. COM 549282101 1836 161400 SH SOLE 161400
MELLON BANK CORP. COM 585509102 1294 38000 SH SOLE 38000
MERCK & COMPANY COM 589331107 213 3166 SH SOLE 3166
MICROSOFT CORP. COM 594918104 467 4000 SH SOLE 4000
MILACRON INC. COM 598709103 1247 81090 SH SOLE 81090
MINNESOTA MNG & MFG COM 604059105 212 2167 SH SOLE 2167
294 3000 SH OTHER 3000
McGRAW-HILL COMPANIES COM 580645109 2465 40000 SH SOLE 40000
592 9600 SH OTHER 9600
NABISCO COM 629526104 36321 1153043 SH SOLE 1153043
NISOURCE, INC. COM 65473P105 972 54360 SH SOLE 54360
NORDSTROM, INC. COM 655664100 10995 417870 SH SOLE 417870
OMNICOM GROUP COM 681919106 535 5350 SH SOLE 5350
400 4000 SH OTHER 4000
PEPSICO INC. COM 713448108 16168 458671 SH SOLE 458671
PFIZER COM 717081103 2624 80900 SH SOLE 80900
584 18000 SH OTHER 18000
PG&E CORP COM 69331C108 37702 1839099 SH SOLE 1839099
PHARMACIA & UPJOHN, INC. COM 716941109 1661 36910 SH SOLE 36910
196 4350 SH OTHER 4350
POLAROID COM 731095105 3755 199590 SH SOLE 199590
PROCTER GAMBLE COM 742718109 44 400 SH SOLE 400
1975 18028 SH OTHER 18028
RENAISSANCE RE HOLDINGS COM G7496G103 4958 121300 SH SOLE 121300
SAFECO CORP. COM 786429100 12687 510040 SH SOLE 510040
SBC COMMUNICATIONS, INC. COM 78387G103 66808 1370427 SH SOLE 1370427
146 3000 SH OTHER 3000
SCHLUMBERGER COM 806857108 64822 1154951 SH SOLE 1154951
157 2800 SH OTHER 2800
SOUTHWEST AIRLINES COM 844741108 89850 5572069 SH SOLE 5572069
STERLING BANCSHARES, INC. COM 858907108 312 27844 SH SOLE 27844
TEXACO COM 881694103 1261 23216 SH SOLE 23216
TIDEWATER, INC. COM 886423102 3166 87940 SH SOLE 87940
TRANSOCEAN SEDCO FOREX COM 7280 216102 SH SOLE 216102
18 542 SH OTHER 542
TRINITY INDUSTRIES COM 896522109 1337 47000 SH SOLE 47000
TYCO INTERNATIONAL LTD. COM 2748 70456 SH SOLE 70456
351 9008 SH OTHER 9008
UNICOM CORP. COM 904911104 3447 102910 SH SOLE 102910
UNION CARBIDE COM 905581104 52 786 SH SOLE 786
267 4000 SH OTHER 4000
UNION PACIFIC COM 907818108 245 5600 SH OTHER 5600
UNOCAL COM 915289102 516 15360 SH SOLE 15360
USEC INC. COM 90333E108 717 102500 SH SOLE 102500
WAL-MART STORES, INC. COM 931142103 221 3200 SH SOLE 3200
WEINGARTEN REALTY SBI COM 948741103 35856 920856 SH SOLE 920856
WELLPOINT HEALTH NETWORKS COM 94973H108 3965 60133 SH SOLE 60133
WELLS FARGO & CO COM 949746101 14555 359930 SH SOLE 359930
WEYERHAEUSER COM 962166104 4815 67049 SH SOLE 67049
180 2500 SH OTHER 2500
XEROX COM 984121103 24928 1098775 SH SOLE 1098775
123 5400 SH OTHER 5400
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