UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: December 31, 1998
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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: Crabbe Huson Group, Inc.
Address: 121 SW Morrison, Suite 1400
Portland, OR 97204
13F File Number: 28- (File number not yet assigned; first filing)
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: Thomas F. Biesiadecki
Title: Compliance Officer
Phone: 503-417-3538
Signature, Place, and Date of Signing:
/s/Thomas F. Biesiadecki Portland, Oregon 2/16/98
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[Signature] [City, State] [Date]
Report Type (Check only one.):
[XX] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting
manager are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in this report,
and all holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for
this reporting manager are reported in this report and a portion are
reported by other reporting manager(s).)
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FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 1
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Form 13F Information Table Entry Total: 152
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Form 13F Information Table Value Total: $ 2,658,663
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(thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
[If there are no entries in this list, state "NONE" and omit the column headings
and list entries.]
No. 13F File Number Name
1 28-33 Liberty Mutual Insurance Co.
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<CAPTION>
FORM 13F INFORMATION TABLE
REPORTING MANAGER
Crabbe Huson Group, Inc. 12/31/98
Item 2 Item 3 Item 4 Item 5 Item 6(B) Item 7 Item 8
------ --------- -------- -------- ---------- ----------- -------------------------
Class CUSIP FMV SHRS Shared Other (A) (B) (C)
($000) Defined Managers Sole Shared None
------ --------- ------- -------- ---------- ---------- ------- ------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
3COM CORP Common 885535104 40546 904800 904800 1 903400 1400
ACE LTD Common G0070K103 17105 496700 496700 1 495800 900
ACTEL CORP Common 004934105 53622 2681117 2681117 1 2401617 279500
ADOBE SYS Common 00724F101 39317 841000 841000 1 839500 1500
AES CORPORATION Common 00130H105 21006 443400 443400 1 442700 700
ALCOA INC. Common 013817101 25978 348400 348400 1 347700 700
AMB PROPERTY CORP Common 00163T109 330 15000 15000 1 15000
AMGEN INC Common 031162100 32425 310100 310100 1 309600 500
AMRESCO INC Common 031909104 304 34700 34700 1 34700
ARCADIA FINANCIAL LTD Common 039101100 23851 7184656 7184656 1 6054056 1130600
ARCHSTONE COMMUNITIES TRUST Common 039581103 443 21900 21900 1 21900
ARDEN REALTY GRP Common 039793104 626 27000 27000 1 27000
ASARCO Common 043413103 14708 972400 972400 1 970500 1900
ASSET INVESTORS CORPORATION Common 045417201 388 30400 30400 1 30400
ATLANTIC RICHFIELD Common 048825103 45913 702300 702300 1 701100 1200
AUSPEX SYSTEMS INC. Common 052116100 16643 3845300 3845300 1 3472120 373180
BATTLE MOUNTAIN GOLD Common 071593107 26897 6620858 6620858 1 6043958 576900
BOMBAY CO INC Common 097924104 26779 4868900 4868900 1 4482100 386800
BOSTON CHICKEN INC Common 100578103 1 2000 2000 1 2000
BRANDYWINE REALTY TRUST Common 105368203 524 29300 29300 1 29300
BROOKDALE LIVING COMMUNITIES Common 112462106 489 25100 25100 1 25100
BURLINGTON RESOURCES Common 122014103 29173 814600 814600 1 813400 1200
CABLETRON SYSTEM Common 126920107 23998 2865400 2865400 1 2860800 4600
CAMDEN PROPERTY TRUST Common 133131102 500 19217 19217 1 19217
CAPITAL AUTOMOTIVE REIT Common 139733109 342 23000 23000 1 23000
CATELLUS DEVELOPMENT Common 149111106 1888 131900 131900 1 94900 37000
CATO CORP NEW CL A Common 149205106 15242 1548436 1548436 1 1399836 148600
CCC INFORMATION SVS GRP Common 12487q109 30562 1771700 1771700 1 1597200 174500
CENTURY ALUMINUM Common 156431108 26539 2812100 2812100 1 2586498 225602
CHECKPOINT SYSTEMS INC Common 162825103 32108 2621076 2621076 1 2380776 240300
CHUBB CORP Common 171232101 71 1100 1100 1 1100
COMDISCO INC Common 200336105 2499 148100 148100 1 147900 200
COMMERCIAL ASSETS INC Common 201118106 352 58000 58000 1 58000
CORRECTIONS CORP OF AMERICA Common 220256101 502 28500 28500 1 28500
COUSINS PROPERTIES Common 222795106 313 9700 9700 1 9700
COVENTRY HEALTHCARE CORP. Common 222862104 29693 3369412 3369412 1 3119912 249500
CRESTLINE CAPITAL CORP Common 226153104 39 2700 2700 1 2700
DELUXE CORP Common 248019101 53034 1450500 1450500 1 1448100 2400
DOW CHEMICAL Common 260543103 91 1000 1000 1 1000
DU PONT Common 263534109 25613 482700 482700 1 481900 800
DURA PHARMACEUTICAL Common 26632S109 34468 2269500 2269500 1 2265600 3900
<PAGE>
FORM 13F INFORMATION TABLE
REPORTING MANAGER
Crabbe Huson Group, Inc. 12/31/98
Item 2 Item 3 Item 4 Item 5 Item 6(B) Item 7 Item 8
------ --------- -------- -------- ---------- ----------- -------------------------
Class CUSIP FMV SHRS Shared Other (A) (B) (C)
($000) Defined Managers Sole Shared None
------ --------- ------- -------- ---------- ---------- ------- ------- ---------
EEX CORPORATION Common 26842V207 5773 824747 824747 1 823231 1516
ELECTRONIC DATA SYSTEMS CORP Common 285661104 16015 319100 319100 1 318600 500
ENRON OIL AND GAS Common 293562104 8083 468600 468600 1 467700 900
EQUITY OFFICE PROPERTIES TRUST Common 294741103 33238 1384900 1384900 1 1382600 2300
EQUITY RESIDENT PROPERTYS Common 29476L107 524 13000 13000 1 13000
FEDERATED DEPT STORES Common 31410H101 39851 914800 914800 1 913300 1500
FIRST INDUSTRIAL RE TRUST Common 32054K103 692 25800 25800 1 25800
FLANDERS CORP Common 338494107 16784 4131400 4131400 1 3706800 424600
FLEMING COMPANIES INC Common 339130106 31832 3068130 3068130 1 2789430 278700
FOREST OIL CORP. Common 346091606 28532 3356700 3356700 1 3091400 265300
FREEPORT-MC COPPER B Common 35671D857 24323 2330375 2330375 1 2326975 3400
GENERAL NUTRITION COS Common 37047F103 49493 3045700 3045700 1 3041000 4700
GLIMCHER REALTY TRUST Common 379302102 340 21650 21650 1 21650
GLOBAL MARINE INC Common 379352404 18543 2060300 2060300 1 2056700 3600
GREY WOLF INC Common 397888108 11989 15985400 15985400 1 14449900 1535500
GST TELECOMMUNICATIONS INC. Common 361942105 486 74000 74000 1 53700 20300
HALLIBURTON CO Common 406216101 2773 93600 93600 1 93600
HARNISCHFEGER INDUSTRIES INC Common 413345109 12970 1273100 1273100 1 1271200 1900
HEALTHCARE REALTY TRUST INC Common 421946104 350 15825 15825 1 15825
HEWLETT-PACKARD Common 428236103 46159 675700 675700 1 674600 1100
HMT TECHNOLOGY CORP Common 403917107 40864 3189400 3189400 1 2892100 297300
HOST MARROITT CORP Common 44107P102 373 27000 27000 1 27000
HUNTCO INC. Common 445661101 8397 2166900 2166900 1 1963100 203800
IDEXX LABORATORIES INC Common 45168D104 49647 1845200 1845200 1 1665000 180200
INPUT/OUTPUT INC. Common 457652105 8452 1155880 1155880 1 1045580 110300
INTEGRATED HEALTH SERV Common 45812C106 18830 1333100 1333100 1 1207300 125800
INTERNEURON PHARMACEUTICALS Common 460573108 12423 3786100 3786100 1 3450400 335700
IRT PROPERTY CO Common 450058102 265 26500 26500 1 26500
ISPAT INTERNATIONAL NV Common 464899103 21604 2787600 2787600 1 2566300 221300
IXC COMMUNICATIONS INC Common 450713102 7730 229900 229900 1 229500 400
JB HUNT Common 445658107 23416 1018100 1018100 1 938000 80100
KCS ENERGY INC Common 482434206 6485 2161531 2161531 1 1955231 206300
KRANZCO REALTY TRUST Common 50076E103 347 23200 23200 1 23200
LANDSTAR SYSTEM INC. Common 515098101 13960 342574 342574 1 307574 35000
LIBERTY PROPERTY TRUST Common 531172104 357 14500 14500 1 14500
LOCKHEED MARTIN CORPORATION Common 539830109 30510 360000 360000 1 359500 500
LONGVIEW FIBRE CO Common 543213102 19920 1722800 1722800 1 1599100 123700
LOUISIANA PAC CORP COM Common 546347105 11376 621200 621200 1 619900 1300
LYONDELL CHEMICAL CO. Common 552078107 33611 1867296 1867296 1 1864000 3296
MANUFACTURED HOME COMMUNITIES Common 564682102 368 14700 14700 1 14700
<PAGE>
FORM 13F INFORMATION TABLE
REPORTING MANAGER
Crabbe Huson Group, Inc. 12/31/98
Item 2 Item 3 Item 4 Item 5 Item 6(B) Item 7 Item 8
------ --------- -------- -------- ---------- ----------- -------------------------
Class CUSIP FMV SHRS Shared Other (A) (B) (C)
($000) Defined Managers Sole Shared None
------ --------- ------- -------- ---------- ---------- ------- ------- ---------
MARINE DRILLING CO INC Common 568240204 5292 699764 699764 1 645964 53800
MCDERMOTT INTL INC Common 580037109 37497 1518850 1518850 1 1516350 2500
MEDIAONE GROUP INC Common 58440J104 54287 1155050 1155050 1 1153150 1900
MEDITRUST CORP-PAIRED STOCK Common 58501T306 180 12000 12000 1 12000
MENTOR GRAPHICS CORP Common 587200106 35281 4150700 4150700 1 3745400 405300
MGIC INVESTMENT CORP Common 552848103 24724 621000 621000 1 620000 1000
MGM GRAND INC Common 552953101 20702 763200 763200 1 762000 1200
MID ATLANTIC MEDICAL SVC Common 59523C107 48328 4925100 4925100 1 4499200 425900
MYLEX CORP Common 628546103 42422 3535200 3535200 1 3247600 287600
NABORS INDUSTRIES INC Common 629568106 22216 1645600 1645600 1 1643100 2500
NATIONAL SEMICONDUCTOR Common 637640103 36261 2686000 2686000 1 2681500 4500
NEW HOLLAND Common N62648105 10453 763700 763700 1 762200 1500
NORTHROP GRUMMAN CORP Common 666807102 36906 504700 504700 1 503800 900
NORTHWEST AIRLINES CL A Common 667280101 29509 1154400 1154400 1 1152100 2300
NUEVO ENERGY CO Common 670509108 11953 1039400 1039400 1 941500 97900
OAKLEY INC Common 673662102 52486 5524845 5524845 1 5033945 490900
OREGON STEEL MILLS INC Common 686079104 13834 1164966 1164966 1 1104166 60800
PACIFICORP COM Common 695114108 18680 886900 886900 1 885400 1500
PATRIOT AMERN HOSPTLTY COM Common 703352203 135 22500 22500 1 22500
PENNY JC INC Common 708160106 21891 467000 467000 1 466300 700
PEP BOYS-MANNY MOE & JACK Common 713278109 39934 2545600 2545600 1 2541100 4500
PEPSICO INC Common 713448108 15753 385400 385400 1 384800 600
PHELPS DODGE CORP Common 717265102 22568 443600 443600 1 442900 700
PHILIPS INTERNATIONAL REALTY Common 718333107 461 30000 30000 1 30000
PHILLIP MORRIS COMPANIES INC Common 718154107 23722 443400 443400 1 442600 800
PHILLIPS VAN HEUSEN Common 718592108 27714 3855800 3855800 1 3511600 344200
PHYMATRIX CORP Common 718925100 7264 3320600 3320600 1 3058200 262400
PICO HOLDINGS INC Common 693366205 1091 82340 82340 1 82340
PICTURETEL CORP. Common 720035302 27766 4191100 4191100 1 3787700 403400
POST PROPERTIES INC Common 737464107 522 13575 13575 1 13575
PRECISION RESPONSE CORP Common 740314109 25282 3315700 3315700 1 3011400 304300
PRENTISS PROPERTIES Common 740706106 466 20900 20900 1 20900
PROLOGIS TRUST Common 743410102 249 12000 12000 1 12000
PUBLIC STORAGE INC. Common 74460D109 696 25700 25700 1 25700
QUANTEL Common 746906106 0 400 400 1 400
RISK CAPITAL HOLDINGS INC Common 767711104 27031 1242800 1242800 1 1157200 85600
SAFECO CORP Common 786429100 4654 108400 108400 1 108400
SAFESKIN CORP Common 786454108 9098 377100 377100 1 376400 700
SAFETY-KLEEN CORP Common 78648R203 49872 3530750 3530750 1 3229600 301150
SCHLUMBERGER LTD Common 806857108 35213 759300 759300 1 758000 1300
SEAGATE TECHNOLOGY INC Common 811804103 34192 1130300 1130300 1 1128400 1900
<PAGE>
FORM 13F INFORMATION TABLE
REPORTING MANAGER
Crabbe Huson Group, Inc. 12/31/98
Item 2 Item 3 Item 4 Item 5 Item 6(B) Item 7 Item 8
------ --------- -------- -------- ---------- ----------- -------------------------
Class CUSIP FMV SHRS Shared Other (A) (B) (C)
($000) Defined Managers Sole Shared None
------ --------- ------- -------- ---------- ---------- ------- ------- ---------
SENSORMATIC ELECTRONICS Common 817265101 19788 2852323 2852323 1 2597423 254900
SEQUENT COMPUTER SYSTEMS Common 817338106 30958 2566500 2566500 1 2321600 244900
SHURGARD STORAGE CTRS A Common 82567D104 186 7200 7200 1 7200
SILICON GRAPHICS INC Common 827056102 53028 4118650 4118650 1 4111850 6800
SIMON PROPERTY GROUP INC Common 828806109 688 24140 24140 1 24140
SMITH INTERNATIONAL INC Common 832110100 22898 909100 909100 1 907500 1600
SNYDER OIL CORP. Common 833482102 23881 1793850 1793850 1 1630150 163700
SONAT INC Common 835415100 21915 809800 809800 1 808500 1300
SPIEKER PROPERTIES Common 848497103 263 7600 7600 1 7600
STORAGE TRUST REALTY Common 861909109 316 13500 13500 1 13500
STORAGE USA Common 861907103 381 11800 11800 1 11800
STRUCTURAL DYNAMICS RESEARCH Common 863555108 2 91 91 1 91
SUIZA FOOD CORPORATION Common 865077101 37572 737600 737600 1 736600 1000
SUMMIT PROPERTIES INC Common 866239106 345 20000 20000 1 20000
SUN HEALTHCARE GROUP Common 866933104 16609 2530900 2530900 1 2360800 170100
TOM BROWN, INC Common 115660201 6841 682000 682000 1 611600 70400
TOWER REALTY TRUST Common 89185E109 256 12700 12700 1 12700
TRINET CORP REALTY TRUST Common 896287109 171 6400 6400 1 6400
UNION PACIFIC CORP Common 907818108 27853 618100 618100 1 617000 1100
UNION PACIFIC RESOURCES Common 907834105 18606 2053100 2053100 1 2049700 3400
UNITEDHEALTH GROUP Common 910581107 39669 921200 921200 1 919600 1600
US FILTER CORP Common 911843209 25705 1123700 1123700 1 1121900 1800
VORNADO REALTY TRUST Common 929042109 157 4700 4700 1 4700
VYSIS INC Common 928961101 2811 523000 523000 1 498800 24200
WABASH NATIONAL CORP Common 929566107 31444 1548000 1548000 1 1417600 130400
WALDEN RESIDENTIAL PROP Common 931210108 204 10000 10000 1 10000
WARNACO GROUP-CL A Common 934390105 11890 470900 470900 1 470200 700
WEEKS CORP Common 94856P102 414 14700 14700 1 14700
WESTERN GAS RES Common 958259103 6174 1073800 1073800 1 1032600 41200
YELLOW CORPORATION Common 985509108 28448 1487500 1487500 1 1357800 129700
2655663
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