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.
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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
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NEWELL ASSOCIATES
FORM 13F
March 31, 1999
Voting Authority
------------------------
Value Shares/ Sh/PuInvsOther
Name of Issuer TitlCUSIP (x$100Prn Amt PrnCaDscrMaSole Shared None
- --------------------------------------------------------------------------------
AT&T Corp. COM 001957109 79516 996279SH Sole 34700 961579
Allegheny Energy, Inc.COM 017361106 8745 296453SH Sole 10400 286053
Ameren Corp. COM 023608102 7298 201676SH Sole 6500 195176
American General Corp.COM 026351106 23130 328087SH Sole 11600 316487
American Home ProductsCOM 026609107 88795 1360847SH Sole 50900 1309947
Ameritech Corp. COM 030954101 59527 1033000SH Sole 37300 995700
Anheuser-Busch Cos. InCOM 035229103 32304 424358SH Sole 14100 410258
Atlantic Richfield Co.COM 048825103 47946 655666SH Sole 23300 632366
Avon Products, Inc. COM 054303102 4223 89737SH Sole 3300 86437
BP Amoco PLC - ADR COM 055622104 69573688838.7SH Sole 23355665483.7
Baker Hughes Inc. COM 057224107 8162 335700SH Sole 11600 324100
Baltimore Gas & ElectrCOM 059165100 8567 337619SH Sole 11000 326619
Banc One Corp. COM 06423A103 53775 976622SH Sole 34320 942302
BankAmerica CorporatioCOM 06605F102 54950 778060SH Sole 27673 750387
Bankers Trust Corp. COM 066365107 22192 251468SH Sole 9200 242268
Baxter International COM 071813109 15592 236243SH Sole 8300 227943
Bell Atlantic Corp. COM 077853109 84936 1643263SH Sole 62028 1581235
BellSouth Corp. COM 079860102 29394 733714SH Sole 26400 707314
Best Foods COM 08658U101 3511 74700SH Sole 2700 72000
Boeing Co. COM 097023105 3567 104900SH Sole 3700 101200
Bristol-Myers Squibb CCOM 110122108 97723 1523950SH Sole 55600 1468350
CSX Corporation COM 126408103 8931 229366SH Sole 7900 221466
Campbell Soup Co. COM 134429109 9586 235612SH Sole 8100 227512
Caterpillar Inc COM 149123101 5851 127377SH Sole 4400 122977
Central & South West CCOM 152357109 9808 418482SH Sole 14500 403982
Chase Manhattan Corp. COM 16161A108 14754 181305SH Sole 6300 175005
Chevron Corp. COM 166751107 67339 758752SH Sole 25400 733352
Chubb Corp. COM 171232101 9024 154100SH Sole 5500 148600
Clorox Company COM 189054109 17877 152548SH Sole 4900 147648
Consolidated Edison InCOM 209111103 10491 231517SH Sole 7700 223817
Consolidated Natural GCOM 209615103 21287 437218SH Sole 15400 421818
Deere & Co. COM 244199105 3046 78868SH Sole 2900 75968
Deluxe Corp. COM 248019101 1566 53780SH Sole 53780
Dominion Resources, InCOM 257470104 10573 286253SH Sole 8400 277853
Dow Chemical Co. COM 260543103 39349 422257SH Sole 14500 407757
Du Pont (E. I.) de NemCOM 263534109 24447 421046SH Sole 14300 406746
Duke Energy Corp. COM 264399106 20430 372723SH Sole 12100 360623
Dun & Bradstreet Corp.COM 26483B106 10712 300687SH Sole 10400 290287
Eastman Kodak Co. COM 277461109 15579 243891SH Sole 8400 235491
Edison International COM 783882103 18548 833613SH Sole 27700 805913
Emerson Electric Co. COM 291011104 14737 278390SH Sole 9500 268890
Exxon Corp. COM 302290101 69909 990738SH Sole 35700 955038
FPL Group, Inc. COM 302571104 10530 197740SH Sole 6100 191640
First Union Corp. COM 337358105 48640 910228SH Sole 31512 878716
Fleet Financial Group,COM 338915101 19544 519436SH Sole 18700 500736
Ford Motor Company COM 345370100 20542 362381SH Sole 13600 348781
Fortune Brands Inc. COM 349631101 18637 484065SH Sole 14700 469365
GTE Corp. COM 362320103 56151 928110SH Sole 33700 894410
Gallaher Group PLC - ACOM 363595109 8459 359967SH Sole 9800 350167
General Electric Co. COM 369604103 24869 224808SH Sole 10200 214608
General Mills, Inc. COM 370334104 20229 267711SH Sole 8600 259111
Genuine Parts Co. COM 372460105 15199 527526SH Sole 16850 510676
Glaxo Wellcome PLC -ADCOM 37733W105 42592 636292SH Sole 22000 614292
Heinz (H.J.) Co. COM 423074103 19719 416223SH Sole 13850 402373
Hershey Foods Corp. COM 427866108 3829 68300SH Sole 2400 65900
Honeywell Inc. COM 438506107 5769 76100SH Sole 2600 73500
International Flavors COM 459506101 8339 222000SH Sole 7300 214700
International Paper CoCOM 460146103 14599 346044SH Sole 10800 335244
Kellogg Co. COM 487836108 14664 433699SH Sole 15000 418699
KeyCorp COM 493267108 15425 508869SH Sole 17200 491669
Kimberly-Clark CorporaCOM 494368103 13715 286093SH Sole 9800 276293
Kmart Corporation COM 482584109 2280 135600SH Sole 300 135300
Lilly, Eli & Co. COM 532457108 23786 280253SH Sole 9900 270353
Lincoln National Corp.COM 534187109 28777 291043SH Sole 9800 281243
Marsh & McLennan CompaCOM 571748102 30304 408135SH Sole 14200 393935
May Department Stores COM 577778103 32238823965.5SH Sole 28450795515.5
McGraw-Hill Cos. COM 580645109 15852 290862SH Sole 9600 281262
Mellon Bank Corp. COM 585509102 20164 286528SH Sole 9300 277228
Merck & Co., Inc. COM 589331107 48567 606140SH Sole 23400 582740
Merrill Lynch & Co. COM 590188108 14213 160600SH Sole 5600 155000
Minnesota Mining & ManCOM 604059105 31292 442290SH Sole 15000 427290
Mobil Corp. COM 607059102 68817 782013SH Sole 27900 754113
Morgan (J.P.) & Co. COM 616880100 29711 240817SH Sole 8700 232117
NICOR, Inc. COM 654086107 6485 180447SH Sole 6700 173747
Newell Rubbermaid inc.COM 651229106 7348 154700SH Sole 5400 149300
Norfolk Southern CorpoCOM 655844108 11772 446340SH Sole 15500 430840
Northern States Power COM 665772109 7983 344280SH Sole 11400 332880
OGE Energy Corp. COM 670837103 2105 93300SH Sole 400 92900
Ogden Corp. COM 676346109 953 39600SH Sole 100 39500
PNC Bank Corp. COM 693475105 24073 433265SH Sole 15500 417765
PacifiCorp COM 695114108 16598 962221SH Sole 32900 929321
Penney (J.C.) Company,COM 708160106 25937 640421SH Sole 21900 618521
Pharmacia & Upjohn IncCOM 716941109 70055 1123131SH Sole 40470 1082661
Philip Morris CompanieCOM 718154107 52141 1481797SH Sole 51000 1430797
Phillips Petroleum Co.COM 718507106 16371 346478SH Sole 11000 335478
Pitney Bowes Inc. COM 724479100 20355 319295SH Sole 11400 307895
Potlatch Corp. COM 737628107 5818 171432SH Sole 7000 164432
Potomac Electric PowerCOM 737679100 3492 150600SH Sole 700 149900
Public Service EnterprCOM 744573106 7527 197118SH Sole 4750 192368
Quaker Oats Co. COM 747402105 18345 294695SH Sole 10100 284595
Rite Aid Corp. COM 767754104 1385 55400SH Sole 1900 53500
Royal Dutch Petroleum COM 780257804 36914 709881SH Sole 24200 685681
SAFECO Corp. COM 786429100 17202 425399SH Sole 13400 411999
SBC Communications IncCOM 78387G103 34700 735359SH Sole 26300 709059
SCANA Corporation COM 805898103 6127 282495SH Sole 9600 272895
Sara Lee Corp. COM 803111103 10375 419212SH Sole 14600 404612
Schlumberger Ltd COM 806857108 9287 154300SH Sole 5500 148800
Sears, Roebuck & Co. COM 812387108 1500 33200SH Sole 1100 32100
Sempra Energy Inc. COM 816851109 4083 212781SH Sole 6315 206466
Shell Transp & Trade -COM 822703609 508 12500SH Sole 12500
Southern Co. COM 842587107 19317 828605SH Sole 25000 803605
St. Paul Cos. COM 792860108 13912 447865SH Sole 12800 435065
TECO Energy, Inc. COM 872375100 6511 327612SH Sole 10400 317212
Texaco Inc. COM 881694103 49448 871332SH Sole 30400 840932
Texas Utilities Co. COM 882848104 16520 393329SH Sole 11723 381606
Thomas & Betts Corp. COM 884315102 8503 226367SH Sole 7400 218967
U S West Inc. COM 91273H101 44967 816657SH Sole 29834 786823
U.S. Bancorp COM 902973106 13519 396889SH Sole 14245 382644
UST Inc. COM 902911106 8664 331646SH Sole 13100 318546
USX-Marathon Group COM 902905827 12670 460741SH Sole 14600 446141
Union Camp Corp. COM 905530101 10094 150372SH Sole 6200 144172
Union Pacific Corp. COM 907818108 15956 298597SH Sole 9900 288697
Unocal Corp. COM 915289102 2743 74400SH Sole 2600 71800
Wachovia Corporation COM 929771103 19438 239417SH Sole 7600 231817
Washington Mutual, IncCOM 939322103 26224 641557SH Sole 21760 619797
Wells Fargo & Company COM 949746101 5031 143500SH Sole 4900 138600
Weyerhaeuser Company COM 962166104 18490 333146SH Sole 11600 321546
Whirlpool Corporation COM 963320106 8134 149597SH Sole 5700 143897
Wisconsin Energy Corp.COM 976657106 7734 296744SH Sole 10400 286344
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