UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.D. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Quarter Ended: December 31, 1999
Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institution Manager Filing this Report:
Name: Montana Board of Investments
Address: P.O. Box 200126
Helena, MT 59620-0126
13F File Number: 28-2982
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: Gayle Moon
Title: Chief Accountant
Phone: 406-444-0099
Signature, Place, and Date of Signing:
Gayle Moon Helena, Montana February 5, 2000
Report Type (Check only one.):
[ X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
List of Other Managers Reporting for this Manager:
None
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: 105
Form 13F Information Table Value Total: $2,831,578
List of Other Included Managers:
None
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FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVESTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000)PRN AMT PRN CALL DISCRETN MANAGERS SOLE SHARED NONE
AT + T CORP COM 001957109 41396 1140000 SH SOLE 1140000
ABBOTT LABS COM 002824100 14513 450000 SH SOLE 450000
ALBERTSONS INC COM 013104104 44056 265000 SH SOLE 265000
AMERICAN EXPRESS CO COM 025816109 21245 280000 SH SOLE 280000
AMERICAN GEN CORP COM 026351106 16958 430000 SH SOLE 430000
AMERICAN HOME PRODUCTS CORP COM 026609107 50008 462500 SH SOLE 462500
AMERICAN INTL GROUP INC COM 026874107 20541 342000 SH SOLE 342000
AMGEN INC COM 031162100 12535 456842 SH SOLE 456842
ASSOCIATES FIRST CAP CORP COM 046008108 62296 1227500 SH SOLE 1227500
AUTOMATIC DATA PROCESSING INC COM 053015103 47949 890000 SH SOLE 890000
BMC SOFTWARE INC COM 055921100 22109 440536 SH SOLE 440536
BANK AMER CORP COM 060505104 20488 639000 SH SOLE 639000
BANK ONE CORP COM 06423A103 16518 617500 SH SOLE 617500
BECTON DICKINSON + CO COM 075887109 23627 449500 SH SOLE 449500
BESTFOODS COM 08658U101 33174 415000 SH SOLE 415000
BRISTOL MYERS SQUIBB CO COM 110122108 33955 529000 SH SOLE 529000
BURLINGTON RES INC COM 122014103 16594 501900 SH SOLE 501900
CVS CORP COM 126650100 21753 280000 SH SOLE 280000
CHASE MANHATTAN CORP NEW COM 16161A108 18191 210000 SH SOLE 210000
CHEVRON CORP COM 166751107 61865 577500 SH SOLE 577500
CISCO SYS INC COM 17275R102 64836 1166900 SH SOLE 1166900
CITIGROUP INC COM 172967101 17824 790000 SH SOLE 790000
CONAGRA INC COM 205887102 39101 428500 SH SOLE 428500
COSTCO WHSL CORP NEW COM 22160K105 49023 1227500 SH SOLE 1227500
DAYTON HUDSON CORP COM 239753106 42227 575000 SH SOLE 575000
DU PONT E I DE NEMOURS + CO COM 263534109 40843 620000 SH SOLE 620000
EDISON INTL COM 281020107 13879 530000 SH SOLE 530000
EMERSON ELEC CO COM 291011104 13770 240000 SH SOLE 240000
ENRON CORP COM 293561106 44375 1000000 SH SOLE 1000000
EXXON MOBIL CORP COM 30231G102 37458 464956 SH SOLE 464956
FPL GROUP INC COM 302571104 35012 710000 SH SOLE 710000
FIRST DATA CORP COM 319963104 21079 642400 SH SOLE 642400
FIRST UN CORP COM 337358105 26184 490000 SH SOLE 490000
FORD MTR CO DEL COM 345370100 6422 150000 SH SOLE 150000
GTE CORP COM 362320103 80470 520000 SH SOLE 520000
GENERAL ELEC CO COM 369604103 55138 781400 SH SOLE 781400
GUIDANT CORP COM 401698105 19975 425000 SH SOLE 425000
HALLIBURTON CO COM 406216101 13685 340000 SH SOLE 340000
HARTFORD LIFE INC COM 416592103 18357 417200 SH SOLE 417200
HEWLETT PACKARD CO COM 428236103 20509 180000 SH SOLE 180000
ILLINOIS TOOL WKS INC COM 452308109 24323 360000 SH SOLE 360000
INTEL CORP COM 458140100 93013 1130000 SH SOLE 1130000
INTERNATIONAL BUSINESS MACHS COM 459200101 73440 680000 SH SOLE 680000
JOHNSON + JOHNSON COM 478160104 56899 611000 SH SOLE 611000
KEYCORP NEW COM 493267108 16151 730000 SH SOLE 730000
KIMBERLY CLARK CORP COM 494368103 27405 420000 SH SOLE 420000
LILLY ELI + CO COM 532457108 23940 360000 SH SOLE 360000
LUCENT TECHNOLOGIES INC COM 549463107 40399 540000 SH SOLE 540000
MCI WORLDCOM INC COM 55268B106 9942 103900 SH SOLE 103900
MARSH + MCLENNAN COS INC COM 571748102 23929 943000 SH SOLE 943000
MASCO CORP COM 574599106 21809 541000 SH SOLE 541000
MCDONALDS CORP COM 580135101 16715 315000 SH SOLE 315000
MERCK + CO INC COM 589331107 60960 909000 SH SOLE 909000
MICROSOFT CORP COM 594918104 63629 545000 SH SOLE 545000
NESTLE S A COM 641069406 15470 170000 SH SOLE 170000
NEWELL RUBBERMAID INC COM 651229106 19967 688500 SH SOLE 688500
NOKIA CORP COM 654902204 147003 773700 SH SOLE 773700
NORTEL NETWORKS CORP COM 656569100 48884 484000 SH SOLE 484000
NOVARTIS AG COM 66987V109 19972 274998 SH SOLE 274998
ORACLE CORP COM 68389X105 19219 171500 SH SOLE 171500
PNC BK CORP COM 693475105 23140 520000 SH SOLE 520000
RELIANT ENERGY INC COM 75952J108 4575 200000 SH SOLE 200000
ROYAL DUTCH PETE CO COM 780257804 26218 433800 SH SOLE 433800
SBC COMMUNICATIONS INC COM 78387G103 76637 2155000 SH SOLE 2155000
SAFEWAY INC COM 786514208 14120 640000 SH SOLE 640000
SARA LEE CORP COM 803111103 37908 777600 SH SOLE 777600
SCHERING PLOUGH CORP COM 806605101 38391 910000 SH SOLE 910000
SCHLUMBERGER LTD COM 806857108 10451 185800 SH SOLE 185800
SIGMA ALDRICH COM 826552101 11180 371900 SH SOLE 371900
SMITHKLINE BEECHAM P L C COM 832378301 18043 280000 SH SOLE 280000
SUN MICROSYSTEMS INC COM 866810104 86730 1120000 SH SOLE 1120000
SYSCO CORP COM 871829107 16134 407800 SH SOLE 407800
TELLABS INC COM 879664100 54367 847000 SH SOLE 847000
TEXACO INC COM 881694103 21997 405000 SH SOLE 405000
TEXAS UTILS CO COM 882848104 12002 337500 SH SOLE 337500
TYCO INTL LTD NEW COM 902124106 61811 1590000 SH SOLE 1590000
USX MARATHON GROUP COM 902905827 13633 312500 SH SOLE 312500
US BANCORP DEL COM 902973106 15600 240000 SH SOLE 240000
UNION PAC CORP COM 907818108 24051 1010000 SH SOLE 1010000
UNITED TECHNOLOGIES CORP COM 913017109 15998 648000 SH SOLE 648000
WELLS FARGO + CO NEW COM 949746101 40438 1000000 SH SOLE 1000000
AMB PPTY CORP COM 00163T109 5981 300000 SH SOLE 300000
ARCHSTONE CMNTYS TR COM 039581103 410 20000 SH SOLE 20000
ARDEN RLTY INC COM 039793104 5618 280000 SH SOLE 280000
BOSTON PPTYS INC COM 101121101 6848 220000 SH SOLE 220000
BOYKIN LODGING CO COM 103430104 3281 300000 SH SOLE 300000
CORNERSTONE PPTYS INC COM 21922H103 5850 400000 SH SOLE 400000
CORNERSTONE RLTY INCOME TR INC COM 21922V102 5850 600000 SH SOLE 600000
CRESCENT REAL ESTATE EQUITIES COM 225756105 2756 150000 SH SOLE 150000
DUKE WEEKS RLTY CORP COM 264411505 6825 350000 SH SOLE 350000
ELDERTRUST COM 284560109 1838 300000 SH SOLE 300000
EQUITY RESIDENTIAL PPTYS TR COM 29476L107 7103 166400 SH SOLE 166400
FELCOR LODGING TR INC COM 31430F101 3850 220000 SH SOLE 220000
FIRST INDL RLTY TR INC COM 32054K103 5488 200000 SH SOLE 200000
LIBERTY PROPERTY COM 531172104 7760 320000 SH SOLE 320000
MGI PPTYS COM 552885105 6776 260000 SH SOLE 260000
MACK CA RLTY CORP COM 554489104 70 13300 SH SOLE 13300
MERRY LAND PROPERTIES INC COM 590441101 1050 200000 SH SOLE 200000
PRENTISS PPTYS TR COM 740706106 7140 340000 SH SOLE 340000
PUBLIC STORAGE INC COM 74460D109 2269 100000 SH SOLE 100000
RECKSON SVC INDS INC COM 75621J109 8200 400000 SH SOLE 400000
RECKSON ASSOCS RLTY CORP COM 75621K106 11352 182000 SH SOLE 182000
SL GREEN RLTY CORP COM 78440X101 5438 250000 SH SOLE 250000
SPIEKER PPTYS INC COM 848497103 9109 250000 SH SOLE 250000
STARWOOD FINANCIAL INC COM 85569R104 4285 253000 SH SOLE 253000
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