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 [ ]; Amendment Number:
This Amendment (check only one): [ ] is a restatement.
[ ] adds new holdings
entries.
Institutional Investment Manager Filing this Report:
Newell Associates
525 University Avenue
Suite 620
Palo Alto, CA 94301
13F File Number: 801-86949
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:
Jennifer C. Newell, CFA
President
(650) 327-2332
Palo Alto, California
March 31, 1999
Report Type:
[ 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: 119
Form 13F Information Table Value Total: $2,662,039,589.87
List of Other Included Managers: 0
<PAGE>
<TABLE>NEWELL ASSOCIATES
FORM 13F
June 30, 1999
Voting Authority
Title --------------------------
of Value Shares/Sh PutInvstmOther
Name of IssuerclasCUSIP x$1000Prn AmtPr CalDscretManagersSole Shared None
- ------------------------------------------ -------------------------------------
<S> <C> <C> <C> <C> <C><C><C> <C> <C> <C> <C>
AT&T Corp. COM 001957109 836251498318SH Sole 511501447168
Allegheny EnerCOM 017361106 8556 266853SH Sole 9500 257353
Ameren Corp. COM 023608102 7164 186676SH Sole 6500 180176
American GenerCOM 026351106 25054 332387SH Sole 11600 320787
American Home COM 026609107 796791388747SH Sole 495001339247
Ameritech CorpCOM 030954101 755801028300SH Sole 36900 991400
Anheuser-BuschCOM 035229103 30053 423658SH Sole 14100 409558
Atlantic RichfCOM 048825103 53795 643766SH Sole 22400 621366
Avon Products,COM 054303102 5003 90137SH Sole 3300 86837
BP Amoco PLC -COM 055622104 74305 684838SH Sole 23355 661483
Baker Hughes ICOM 057224107 11186 333900SH Sole 11600 322300
Banc One Corp.COM 06423A103 57831 970922SH Sole 34320 936602
Bank of AmericCOM 060505104 62855 857360SH Sole 29473 827887
Baxter InternaCOM 071813109 15632 257843SH Sole 8800 249043
Bell Atlantic COM 0778531091073501642063SH Sole 612281580835
BellSouth CorpCOM 079860102 34562 749314SH Sole 26400 722914
Best Foods COM 08658U101 4594 92800SH Sole 3200 89600
Boeing Co. COM 097023105 4642 105500SH Sole 3700 101800
Bristol-Myers COM 1101221081078221530750SH Sole 556001475150
CSX CorporatioCOM 126408103 10367 228466SH Sole 7900 220566
Campbell Soup COM 134429109 12193 262912SH Sole 8800 254112
Caterpillar InCOM 149123101 7667 127777SH Sole 4400 123377
Central & SoutCOM 152357109 9567 409282SH Sole 13300 395982
Chase ManhattaCOM 16161A108 15743 182005SH Sole 6300 175705
Chevron Corp. COM 166751107 71616 753352SH Sole 25400 727952
Chubb Corp. COM 171232101 10654 153300SH Sole 5500 147800
Clorox CompanyCOM 189054109 16155 151248SH Sole 4900 146348
ConAgra Inc. COM 205887102 2945 110600SH Sole 3800 106800
Consolidated ECOM 209111103 10232 226117SH Sole 7600 218517
Consolidated NCOM 209615103 24799 408218SH Sole 14000 394218
Constellation COM 210371100 9676 326619SH Sole 10700 315919
Deere & Co. COM 244199105 3091 78868SH Sole 2900 75968
Dominion ResouCOM 257470104 11398 263153SH Sole 7800 255353
Dow Chemical CCOM 260543103 52825 416357SH Sole 14500 401857
Du Pont (E. I.COM 263534109 28715 420346SH Sole 14300 406046
Duke Energy CoCOM 264399106 19702 361923SH Sole 12100 349823
Dun & BradstreCOM 26483B106 10588 298787SH Sole 10400 288387
Eastman Kodak COM 277461109 18319 270391SH Sole 9200 261191
Edison InternaCOM 783882103 22112 826613SH Sole 27700 798913
Emerson ElectrCOM 291011104 18421 292690SH Sole 10200 282490
Exxon Corp. COM 302290101 774671004438SH Sole 35700 968738
FPL Group, IncCOM 302571104 10670 195340SH Sole 6100 189240
First Union CoCOM 337358105 46146 979228SH Sole 33112 946116
Fleet FinanciaCOM 338915101 23210 523036SH Sole 18900 504136
Ford Motor ComCOM 345370100 27597 488981SH Sole 16800 472181
Fortune BrandsCOM 349631101 17521 423465SH Sole 11300 412165
GTE Corp. COM 362320103 69997 927110SH Sole 33000 894110
Gallaher GroupCOM 363595109 8728 357167SH Sole 9800 347367
General ElectrCOM 369604103 30409 269108SH Sole 10200 258908
General Mills,COM 370334104 21204 263811SH Sole 8500 255311
Genuine Parts COM 372460105 18239 521126SH Sole 16850 504276
Gillette Co. COM 375766102 8835 215500SH Sole 7300 208200
Glaxo WellcomeCOM 37733W105 38318 676692SH Sole 22900 653792
Heinz (H.J.) CCOM 423074103 20858 416123SH Sole 13850 402273
Hershey Foods COM 427866108 8603 144900SH Sole 4700 140200
Honeywell Inc.COM 438506107 8795 75900SH Sole 2600 73300
International COM 459506101 9438 214500SH Sole 7300 207200
International COM 460146103 28196 561118SH Sole 20008 541110
Kellogg Co. COM 487836108 14906 451699SH Sole 15000 436699
KeyCorp COM 493267108 16338 508569SH Sole 17200 491369
Kimberly-ClarkCOM 494368103 16319 286293SH Sole 9800 276493
Kmart CorporatCOM 482584109 2237 135600SH Sole 300 135300
Lilly, Eli & CCOM 532457108 19908 277953SH Sole 9700 268253
Lincoln NationCOM 534187109 30163 576586SH Sole 19200 557386
Lockheed MartiCOM 539830109 3598 96600SH Sole 3300 93300
Marsh & McLennCOM 571748102 30255 399735SH Sole 14200 385535
May DepartmentCOM 577778103 34812 851665SH Sole 28450 823215
McGraw-Hill CoCOM 580645109 15651 290162SH Sole 9600 280562
Mellon Bank CoCOM 585509102 20598 566256SH Sole 18600 547656
Merck & Co., ICOM 589331107 51128 694440SH Sole 23600 670840
Merrill Lynch COM 590188108 12736 160200SH Sole 5600 154600
Minnesota MiniCOM 604059105 38078 437990SH Sole 15000 422990
Mobil Corp. COM 607059102 78221 792113SH Sole 27700 764413
Morgan (J.P.) COM 616880100 33090 235517SH Sole 8000 227517
NICOR, Inc. COM 654086107 6868 180447SH Sole 6700 173747
Newell RubbermCOM 651229106 7202 155300SH Sole 5400 149900
Norfolk SoutheCOM 655844108 13359 443440SH Sole 15500 427940
Northern StateCOM 665772109 8218 339780SH Sole 11100 328680
OGE Energy CorCOM 670837103 1617 68100SH Sole 200 67900
Ogden Corp. COM 676346109 598 22200SH Sole 22200
PNC Bank Corp.COM 693475105 24777 429965SH Sole 14700 415265
PacifiCorp COM 695114108 17379 945821SH Sole 32900 912921
Penney (J.C.) COM 708160106 31008 638521SH Sole 21900 616621
Pepsico Inc. COM 713448108 10391 268600SH Sole 9200 259400
Pharmacia & UpCOM 716941109 643591132831SH Sole 404701092361
Philip Morris COM 718154107 593931477897SH Sole 510001426897
Phillips PetroCOM 718507106 16647 330878SH Sole 10700 320178
Pitney Bowes ICOM 724479100 20425 317895SH Sole 11400 306495
Potlatch Corp.COM 737628107 7286 165832SH Sole 7000 158832
Potomac ElectrCOM 737679100 436 14800SH Sole 14800
Proctor and GaCOM 742718109 3061 34300SH Sole 1100 33200
Public ServiceCOM 744573106 2510 61500SH Sole 61500
Quaker Oats CoCOM 747402105 19242 289895SH Sole 9400 280495
Ralston PurinaCOM 751277302 3993 131200SH Sole 4600 126600
Rite Aid Corp.COM 767754104 4947 200900SH Sole 6900 194000
Royal Dutch PeCOM 780257804 42632 707581SH Sole 24200 683381
SAFECO Corp. COM 786429100 18559 420599SH Sole 13400 407199
SBC CommunicatCOM 78387G103 43486 749759SH Sole 25700 724059
SCANA CorporatCOM 805898103 6519 278895SH Sole 9100 269795
Sara Lee Corp.COM 803111103 12240 539512SH Sole 18300 521212
Schlumberger LCOM 806857108 9782 153600SH Sole 5500 148100
Sears, RoebuckCOM 812387108 1479 33200SH Sole 1100 32100
Sempra Energy COM 816851109 4835 213681SH Sole 6315 207366
Shell Transp &COM 822703609 580 12500SH Sole 12500
Southern Co. COM 842587107 21632 816305SH Sole 25000 791305
St. Paul Cos. COM 792860108 14019 440665SH Sole 12800 427865
TECO Energy, ICOM 872375100 7344 322812SH Sole 10400 312412
Texaco Inc. COM 881694103 54212 869132SH Sole 30000 839132
Texas UtilitieCOM 882848104 16199 390929SH Sole 11723 379206
Thomas & BettsCOM 884315102 10375 219567SH Sole 7400 212167
U S West Inc. COM 91273H101 48654 828157SH Sole 29834 798323
U.S. Bancorp COM 902973106 14585 436989SH Sole 15145 421844
UST Inc. COM 902911106 9604 327646SH Sole 12200 315446
USX-Marathon GCOM 902905827 14827 455341SH Sole 14600 440741
Union Pacific COM 907818108 16613 284897SH Sole 9400 275497
Unocal Corp. COM 915289102 2948 74400SH Sole 2600 71800
Wachovia CorpoCOM 929771103 20417 238617SH Sole 7600 231017
Washington MutCOM 939322103 22883 643457SH Sole 21760 621697
Wells Fargo & COM 949746101 6160 144100SH Sole 4900 139200
Weyerhaeuser CCOM 962166104 22271 323946SH Sole 11100 312846
Whirlpool CorpCOM 963320106 10700 144597SH Sole 5100 139497
Wisconsin EnerCOM 976657106 7407 295544SH Sole 10400 285144
</table >
</TABLE>
