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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:
Name: Reliance Financial Services Corporation
Address: 55 East 52nd Street
New York, NY 10055
Form 13F File Number: 28-161
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: Robert M. Steinberg
Title: President and Chief Operating Officer
Phone: 212-909-1100
Signature, Place, and Date of Signing: /s/ Robert M. Steinberg
----------------------------
New York, New York
May 14, 1999
NOTE: While the instructions for Column 6 of the Information Table indicate the
answer must be "DEFINED" due to a parent-subsidiary relationship, each
entity is responsible for its own investment policy and exercises
independent management discretion.
Report Type (Check only one.):
[x] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager
are reported in this report.)
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Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 1
Form 13F Information Table Entry Total: 25
Form 13F Information Table Value Total (thousands): $942,886
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
Form 13F
No. File Number Name
- ----- ----------- ----------------------------------------------------------
1. 28-160 Reliance Insurance Company
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Form 13F INFORMATION TABLE
Report for the Calendar Quarter Ended March 31, 1999
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<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ----------- ---------------- --------- -------- ------------------------- ---------- -------- ----------------------
VOTING AUTHORITY
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER ----------------------
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ----------------- ---------------- --------- -------- ----------- --- ---- ----------- -------- ----- ------ ----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ARMCO INC PFD CVA $3.625 042170407 17,160 390,000 SH DEFINED 1 X
CENTOCOR INC COM 152342101 24,032 650,600 SH DEFINED 1 X
CENTOCOR INC COM 152342101 347 9,400 SH DEFINED X
CYPRESS
SEMICONDUCTOR
CORP SUB NT CV 144A02 232806AB5 9,749 11,000,000 PRN DEFINED 1 X
EMONS TRANSN
GRP INC COM 291575108 511 255,567 SH DEFINED 1 X
HEARTPORT INC SB NT CV 144A 04 421969AA4 18,803 31,870,000 PRN DEFINED 1 X
HEARTPORT INC SB NT CV 7.25%04 421969AC0 2,516 4,265,000 PRN DEFINED 1 X
INDIVIDUAL INV
GROUP INC COM 455907105 3,750 666,666 SH DEFINED 1 X
ISIS
PHARMACEUTICALS
INC COM 464330109 6,300 700,000 SH DEFINED 1 X
ISIS
PHARMACEUTICALS
INC COM 464330109 90 10,000 SH DEFINED X
LANDAMERICA FINL
GROUP INC COM 514936103 117,145 4,039,473 SH DEFINED 1 X
MORGAN J P & CO
INC COM 616880100 70,348 570,200 SH DEFINED 1 X
MORGAN J P & CO
INC COM 616880100 271 2,200 SH DEFINED X
NATIONAL
SEMICONDUCTOR
CORP SB NT CV 6.5%02 637640AB9 17,490 21,200,000 PRN DEFINED 1 X
OCCIDENTAL PETE
CORP DEL PFD CV $3 CXY 674599790 64,591 1,311,500 SH DEFINED 1 X
OCCIDENTAL PETE
CORP DEL PFD CV $3 CXY 674599790 813 16,500 SH DEFINED X
PHILIP MORRIS
COS INC COM 718154107 887 25,200 SH DEFINED 1 X
RELIANCE GROUP
HOLDINGS INC COM 759464100 26,005 3,382,738 SH DEFINED 1 X
RELIANCE GROUP
HOLDINGS INC COM 759464100 1,406 182,900 SH DEFINED X
SCHLUMBERGER LTD COM 806857108 1,577 26,200 SH DEFINED 1 X
SCHLUMBERGER LTD COM 806857108 301 5,000 SH DEFINED X
SEMPRA ENERGY COM 816851109 13,610 709,300 SH DEFINED 1 X
SUNBEAM CORP SRSDCV ZR0144A18 867071AA0 23,006 219,100,000 PRN DEFINED 1 X
SYMBOL
TECHNOLOGIES INC COM 871508107 362,337 8,051,927 SH DEFINED 1 X
ZENITH NATL INS
CORP COM 989390109 159,841 6,574,445 SH DEFINED 1 X
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