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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
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: Schafer Capital Management, Inc.
Address: 103 Spinnaker Lane, Jupiter, FL 33477
Form 13F File Number: 28-1893
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: Brendan J. Spillane
Title: Treasurer
Phone: (561) 741-0600
Signature, Place, and Date of Signing:
___________________/s/__________________________
Princeton, NJ
May 14, 1999
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 are 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).)
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FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 1
Form 13F Information Table Entry Total: 51
Form 13F Information Table Value Total: $1,111,442
List of Other Included Managers:
No. 13F File Number Name
01 28-7554 Strong Schafer Capital Management, LLC
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SCHAFER CAPITAL MANAGEMENT, INC.
FORM 13F
March 31, 1999
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<CAPTION>
Voting Authority
--------------------------
Value Shares/ Sh/ Put/ Invstmt
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>
D Allstate COM 020002101 28331 764400 SH Sole 764400
D Armstrong World COM 042476101 18418 407600 SH Sole 407600
D Arrow Electronics COM 042735100 23798 1586550 SH Sole 1586550
D Avnet Inc COM 053807103 27434 746500 SH Sole 746500
D Bank of America COM 060505104 28031 396900 SH Sole 396900
D Berkley (W.R.) COM 084423102 1496 61050 SH Sole 61050
D Borg Warner Auto COM 099724106 30901 646300 SH Sole 646300
D Burlington N Santa Fe COM 12189T104 29019 882700 SH Sole 882700
D Cadence Design COM 127387108 34278 1331200 SH Sole 1331200
D Canadian National COM 136375102 20681 371800 SH Sole 371800
D Chase Manhattan COM 16161A108 29047 356950 SH Sole 356950
D Chubb Corp COM 171232101 31319 534800 SH Sole 534800
D Cleveland-Cliffs COM 185896107 11888 349000 SH Sole 349000
D DaimlerChrysler COM D1668R123 26199 305300 SH Sole 305300
D Diebold Inc. COM 253651103 32203 1341800 SH Sole 1341800
D ECI Telecom Ltd. COM 268258100 30149 861400 SH Sole 861400
D FDX Corp COM 31304N107 30113 323800 SH Sole 323800
D Fed Nat Mortgage COM 313586109 26183 378100 SH Sole 378100
D Ford Motor Co. COM 345370100 28253 498400 SH Sole 498400
D Harman Int'l COM 413086109 1441 39200 SH Sole 39200
D Iowa Beef Products COM 449223106 1291 69300 SH Sole 69300
D Jo Ann Stores Inc. Cl B COM 47758P208 6078 565400 SH Sole 565400
D Jo Ann Stores Inc. Cl-A COM 47758P109 161 11700 SH Sole 11700
D Kansas City P&L COM 485134100 26814 1088900 SH Sole 1088900
D Klm Royal Dutch COM 482516101 26771 964725 SH Sole 964725
D Lafarge Corp. COM 505862102 25404 907300 SH Sole 907300
D Lockheed Martin Corp. COM 539830109 32884 871100 SH Sole 871100
D May Dept. Stores COM 577778103 28716 733950 SH Sole 733950
D Maytag Corporation COM 578592107 33798 559800 SH Sole 559800
D Mellon Bank COM 585509102 29156 414300 SH Sole 414300
D Merrill Lynch & Co. COM 590188108 29701 335600 SH Sole 335600
D Nat. Bank of Canada COM 633067103 163 11400 SH Sole 11400
D New Holland COM N62648105 1170 114100 SH Sole 114100
D Northern Trust Cp COM 665859104 1270 14300 SH Sole 14300
D Northrop Grumman COM 666807102 7245 121000 SH Sole 121000
D Omnicare, Inc. COM 681904108 32101 1684000 SH Sole 1684000
D Owens Corning Inc. COM 69073F103 216 6800 SH Sole 6800
D Paine Webber Group COM 695629105 30437 763300 SH Sole 763300
D Partner Re Ltd COM G6852T105 27925 689500 SH Sole 689500
D Petroleum Geo-Sevices COM 716597109 5543 363500 SH Sole 363500
D Philip Morris COM 718154107 27313 776200 SH Sole 776200
D Philips Electronics NV COM 500472105 31953 387600 SH Sole 387600
D Progressive Corp. COM 743315103 1277 8900 SH Sole 8900
D Raytheon Cl B COM 755111408 27554 470000 SH Sole 470000
D Sears Roebuck & Co COM 812387108 27244 602900 SH Sole 602900
D Southdown Inc. COM 841297104 29254 544900 SH Sole 544900
D Storage Technology COM 862111200 24416 875900 SH Sole 875900
D StudentLoan Mkt COM 78442A109 25518 611200 SH Sole 611200
D Summit Bancorp COM 866005101 28096 720400 SH Sole 720400
D UCAR Int'l Inc. COM 90262K109 26628 1885200 SH Sole 1885200
D Wells Fargo & Co Del COM 949746101 26164 746200 SH Sole 746200
S REPORT SUMMARY 51 DATA RECORDS 1111442 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
</TABLE>
