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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: June 30, 2000
Institutional Investment Manager Filing this Report:
Name: Messner & Smith Theme/Value Investment Management, Ltd.
Address: 530 B Street, Suite 300
San Diego, CA 92101
SEC File Number: 801-24076
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: Ellis C. Smith
Title: Principal/CAO
Phone: (619) 239-9049
Signature, Place, and Date of Signing:
Ellis C. Smith San Diego, California August 15, 2000
Report Type:
13F Holdings Report
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: 5,781,900.77
Form 13F Information Table Value Total: 159,824,039.22
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<C> <C>
Name of Issuer Title of Cl CUSIP Number Fair Market ValShares of Prin(a) SolManagers (a) Sol
Abbott Laboratories CS 002824100 210,513.25 4724 X M&S X
Affiliated Managers Group CS 008252108 7,664,020.00 168440 X M&S X
American International Grp CS 026874107 293,750.00 2500 X M&S X
American Power Conversion CS 029066107 3,944,936.25 96660 X M&S X
Amerisource Health Corp. CS 03071P102 4,860,738.00 156798 X M&S X
AT&T Liberty Media Group CS 001957208 17,310,668.50 713842 X M&S X
BellSouth Corp. CS 079860102 339,295.00 7960 X M&S X
Cablevision Systems Cl A CS 12686C109 4,711,203.75 69410 X M&S X
Century Telephone CS 156700106 1,850,350.00 64360 X M&S X
Chevron Corp. CS 166751107 448,318.87 5286 X M&S X
Comcast Corp - Cl A CS 200300101 4,753,246.25 122270 X M&S X
Comcast Corp-Special Cl A CS 200300200 5,881,005.00 145210 X M&S X
Compass BancShares CS 20449H109 3,093,695.72 181315 X M&S X
Corning Inc. CS 219350105 431,800.00 1600 X M&S X
Corus Entertainment CS 220874101 1,300,182.42 47933 X M&S X
Exxon Mobil Corporation CS 30231G102 364,240.00 4640 X M&S X
General Electric CS 369604103 636,000.00 12000 X M&S X
Health Management Associates, Inc CS 421933102 5,650,706.87 432590 X M&S X
Heartland Express Inc. CS 422347104 4,026,226.50 241272 X M&S X
Household Internatl CS 441815107 6,023,029.69 144915 X M&S X
Interpublic Grp Cos. CS 460690100 4,783,126.50 111235 X M&S X
Jacobs Engineering Group Inc. CS 469814107 5,655,754.69 173025 X M&S X
Jefferson-Pilot CS 475070108 2,333,690.62 41350 X M&S X
Lincoln Electric CS 533900106 2,467,173.75 173135 X M&S X
Lucent Technologies CS 549463107 355,737.00 6004 X M&S X
MBIA Inc. CS 55262C100 3,137,006.25 65100 X M&S X
MGIC Investment CS 552848103 4,913,090.00 107980 X M&S X
Montana Power CS 612085100 6,582,956.25 186420 X M&S X
Morgan Stanley Dean Witter Discov CS 617446448 333,000.00 4000 X M&S X
NiSource Industries CS 65473P105 6,200,262.50 332900 X M&S X
NorTel Networks Corp. CS 656569100 546,000.00 8000 X M&S X
Penn Treaty America CS 707874103 2,366,230.00 139190 X M&S X
Pfizer Inc CS 717081103 429,120.00 8940 X M&S X
Pharmacia Corporation CS 71713U102 206,750.00 4000 X M&S X
Ross Stores CS 778296103 7,024,631.25 411700 X M&S X
SBC Comn, Inc. CS 78387G103 484,227.00 11196 X M&S X
Shaw Communications Inc B CS 82028K200 7,068,278.12 286310 X M&S X
SJW Corporation CS 784305104 404,175.00 3400 X M&S X
SouthWest Airlines CS 844741108 6,252,026.25 330140 X M&S X
Sunguard Data Systems CS 867363103 5,258,220.00 169620 X M&S X
Time Warner Inc. CS 887315109 5,900,640.00 77640 X M&S X
Tribune Co CS 896047107 5,113,150.00 146090 X M&S X
Utd Water Resources CS 913190104 259,818.75 7450 X M&S X
Vodafone Group Public Co. CS 92857T107 200,350.31 4835 X M&S X
Whole Foods Market CS 966837106 6,088,842.81 147385 X M&S X
Young & Rubicam, Inc. CS 987425105 274,500.00 4800 X M&S X
Templeton Foreign Fund EF 880196209 332,522.52 31222.77 X M&S X
Templeton Global Government Inc. FF 879929107 358,631.25 61700 X M&S X
MuniVest Fund MF 626295109 298,900.00 39200 X M&S X
Putnam Master Int Inc MF 746909100 401,302.33 64208 X M&S X
159,824,039.22 5781900.77
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