SECURITIES AND EXCHANGE COMMISSION
FORM 13F-HR
NAME OF REPORTING MANAGER: BEDFORD FALLS INVESTORS, LP
Report for the Calendar Year or Quarter Ended: 12/31/98
Institutional Investment Manager: Bedford Falls Investors, LP
I REPRESENT THAT I AM AUTHORIZED TO SUBMIT THIS FORM AND THAT ALL INFORMATION IN
THIS FORM AND THE ATTACHMENTS TO IT ARE TRUE, CORRECT AND COMPLETE, AND I
UNDERSTAND THAT ALL REQUIRED ITEMS, STATEMENTS AND SCHEDULES ARE INTEGRAL PARTS
OF THIS FORM AND THAT THE SUBMISSION OF ANY AMENDMENT REPRESENTS THAT ALL
UNAMENDED ITEMS, STATEMENTS AND SCHEDULES REMAIN TRUE, CORRECT AND COMPLETE AS
PREVIOUSLY SUBMITTED.
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934.
Name, Title and Telephone Number of Person Submitting Report:
Karen Finerman
(212)486-8100
Signature, Place and Date of Signing:
/s/ Karen Finerman
New York, NY
2/12/98
Other Managers on Whose Behalf this Report is Filed:
None
Managers Reporting on Behalf of Reporting Manager:
None
REPORT SUMMARY:
- ---------------
Number of Other Included Managers: None
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Form 13F Information Table Entry Total: 47
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Form 13F Information Table Value Total: 91,979,322
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SECURITIES AND EXCHANGE COMMISSION
FORM 13F-HR
NAME OF REPORTING MANAGER: BEDFORD FALLS INVESTORS, LP
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<S> <C> <C>
NAME OF ISSUER TITLE OF CUSIP VALUE SHARES OR VOTING AUTHORITY
-------------- CLASS ----- x1000 PRINCIPAL ----------------
-------- ----- AMOUNT
--------- SOLE SHARED NONE
---- ------ ----
ALLIANCE IMAGING INC COM 018606 10 3 151 6869 6869
AMERICAN BANKERS INSURANCE CALL 024456 10 5 1891 366 366
AMOCO CORP. CALL 031905 90 2 1861 420 420
AMOCO CORP. CALL 031905 90 2 728 144 144
AMOCO CORP. CALL 031905 90 2 1379 243 243
AMOCO CORP. COM 031905 10 2 2779 47100 47100
AMP, INC CALL 031897 90 1 4750 1000 1000
BCSB BANKCORP INC COM 054948 10 4 72 8400 8400
BNC MTG INC COM 055607 95 5 537 102300 102300
BOEING CO COM 097023 10 5 1445 44300 44300
BOEING CO. CALL 097023 95 5 1386 425 425
BOGEN COMMUNICATIONS INTL INC COM 097189 10 4 5379 825043 825043
CE FRANKLIN LTD COM 125151 10 0 780 462100 462100
CIRCON CORP COM 172736 10 0 3592 243535 243535
COLTEC INDS INC COM 196879 10 0 1082 55500 55500
COLUMBUS MCKINNON CORP NY COM 199333 10 5 4623 262300 262300
COMMUNITY SAVINGS BANKSHARES COM 204041 10 7 289 27055 27055
CYTEC INDUSTRIES, INC. COM 232820 10 0 838 39900 39900
DESERT CMNTY BK VICTORVILLE CA COM 25037Y 10 9 735 29115 29115
FOREST OIL CORP COM 346091 60 6 638 75000 75000
GENERAL MOTORS COM 370442 10 5 1789 25000 25000
GENERAL RE CORP COM 370563 10 8 2122 8600 8600
GST GLOBAL TELECOM INC COM 361942 10 5 1027 315000 315000
HIGHLANDS INS GROUP INC COM 431032 10 1 4355 335000 335000
HILTON HOTELS CORP COM 432848 10 9 499 26100 26100
HILTON HOTELS CORP CALL 432848 90 9 3546 1240 1240
HUDSON GENERAL COM 443784 10 3 410 6500 6500
KASPER A.S. LTD. COM 485808 10 9 490 103200 103200
KELLSTROM IND INC COM 488035 10 6 2433 85000 85000
MCI WORLDCOM, INC. CALL 55268B 90 6 7709 1300 1300
MEDIAONE GROUP CALL 58440J 90 4 1976 488 488
PEC ISRAEL ECONOMIC COM 705098 10 1 408 14200 14200
PATINA OIL & GAS CORP COM 703224 10 5 158 53727 53727
PHARMACEUTICAL MARKETING COM 717123 10 3 1361 94700 94700
QUICKTURN DESIGN COM 74838E 10 2 1349 94700 94700
RJR NABISCO HOLDINGS COM 74960K 87 6 6160 207500 207500
SUNBEAM COM 867071 10 2 131 19100 19100
TR FINANCIAL CORP COM 872630 10 8 312 8000 8000
UCBH HOLDINGS, INC. COM 90262T 30 8 1988 150000 150000
US AIRWAYS GROUP INC. COM 911905 10 7 2177 41900 41900
VENTAS INC COM 92276F 10 0 697 57200 57200
VIACOM INC CALL 925524 90 0 3067 966 966
VIACOM INC CALL 925524 90 0 5556 1750 1750
VISKASE COMPANIES COM 92831R 10 2 146 35400 35400
WASHINGTON MUTUAL COM 939322 10 3 7816 203666 203666
WESTMINSTER CAP INC COM 960631 10 9 359 136900 136900
YOUNG BROADCASTING INC COM 987434 10 7 2442 58500 58500
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REPORT SUMMARY 47 DATA RECORDS 91979 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
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