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, 1999
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Check here if Amendment [ ]; Amendment Number:
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This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Austin, Calvert & Flavin, Inc.
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Address: 112 East Pecan
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Suite 2800
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San Antonio, Texas 78205
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Form 13F File Number: 28-3226
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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: Jonathan C. Calvert
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Title: President
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Phone: 210-353-0500
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Signature, Place, and Date of Signing:
/s/ Jonathan C. Calvert San Antonio, Texas 8/13/99
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<PAGE>
Report Type (Check only one.):
[ X ] 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).)
<PAGE>
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 2
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Form 13F Information Table Entry Total: 170
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Form 13F Information Table Value Total: $1,223,947
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(thousands)
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.
No. Form 13F File Number Name
1 Edward H. Austin, Jr.
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2 Harry M. Flavin
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<PAGE
<TABLE>
<CAPTION>
Form 13F INFORMATION TABLE
<C> <C> <C> <C> <C> <C> <C> <C>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- --------------------------------- -------------- --------- -------- ----------------- ---------- -------- -------------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- --------------------------------- -------------- --------- -------- -------- --- ---- ---------- -------- -------- -------- -------
ABBOTT LABS COM 002824100 29882 658561 SH SOLE 658561
- -----------------------------------------------------------------------------------------------------------------------------------
ALCATEL SPONSORED ADR 013904305 8361 294677 SH SOLE 294677
- -----------------------------------------------------------------------------------------------------------------------------------
ALCOA INC COM 013817101 291 4700 SH SOLE 4700
- -----------------------------------------------------------------------------------------------------------------------------------
ALLMERICA FINANCIAL CORP COM 019754100 21683 356550 SH SOLE 356550
- -----------------------------------------------------------------------------------------------------------------------------------
ALLTEL CORP COM 020039103 454 6346 SH SOLE 6346
- -----------------------------------------------------------------------------------------------------------------------------------
AMERICA ONLINE INC DEL COM 02364J104 286 2600 SH SOLE 2600
- -----------------------------------------------------------------------------------------------------------------------------------
AMERICAN ELEC PWR INC COM 025537101 338 9000 SH SOLE 9000
- -----------------------------------------------------------------------------------------------------------------------------------
AMERICAN EXPRESS CO COM 025816109 22895 175950 SH SOLE 175950
- -----------------------------------------------------------------------------------------------------------------------------------
AMERICAN GENERAL CORP COM 026351106 1817 24100 SH SOLE 24100
- -----------------------------------------------------------------------------------------------------------------------------------
AMERICAN HOME PRODS CORP COM 026609107 23602 411371 SH SOLE 411371
- -----------------------------------------------------------------------------------------------------------------------------------
AMERICAN INTL GROUP INC COM 026874107 1796 19145 SH SOLE 19145
- -----------------------------------------------------------------------------------------------------------------------------------
AMERITECH CORP NEW COM 030954101 1082 14720 SH SOLE 14720
- -----------------------------------------------------------------------------------------------------------------------------------
AMGEN INC COM 031162100 38716 635993 SH SOLE 635993
- -----------------------------------------------------------------------------------------------------------------------------------
APPLE COMPUTER INC COM COM 037833100 13988 302025 SH SOLE 302025
- -----------------------------------------------------------------------------------------------------------------------------------
ARCHSTONE COMNTYS TR COM 039581103 8439 384680 SH SOLE 384680
- -----------------------------------------------------------------------------------------------------------------------------------
ATLANTIC RICHFIELD COM 048825103 635 7600 SH SOLE 7600
- -----------------------------------------------------------------------------------------------------------------------------------
AT&T CORP COM 001957109 733 13136 SH SOLE 13136
- -----------------------------------------------------------------------------------------------------------------------------------
AUTOMATIC DATA PROCESSING INC COM 053015103 247 5620 SH SOLE 5620
- -----------------------------------------------------------------------------------------------------------------------------------
BANK OF AMERICA CORPORATION COM 060505104 831 11337 SH SOLE 11337
- -----------------------------------------------------------------------------------------------------------------------------------
BAXTER INTL INC COM 071813109 9849 162450 SH SOLE 162450
- -----------------------------------------------------------------------------------------------------------------------------------
BCE INC COM 05534B109 385 7800 SH SOLE 7800
- -----------------------------------------------------------------------------------------------------------------------------------
BELL ATLANTIC CORP COM 077853109 2179 33338 SH SOLE 33338
- -----------------------------------------------------------------------------------------------------------------------------------
BELLSOUTH CORP COM 079860102 1319 28600 SH SOLE 28600
- -----------------------------------------------------------------------------------------------------------------------------------
BERKSHIRE HATHAWAY INC DEL CL COM 084670207 493 220 SH SOLE 493
- -----------------------------------------------------------------------------------------------------------------------------------
BESTFOODS COM 08658U101 1257 25400 SH SOLE 25400
- -----------------------------------------------------------------------------------------------------------------------------------
BP AMOCO P L C COM 055622104 1567 14442 SH SOLE 14442
- -----------------------------------------------------------------------------------------------------------------------------------
BRE PROPERTIES INC CL A 05564E106 468 18000 SH SOLE 18000
- -----------------------------------------------------------------------------------------------------------------------------------
BRISTOL MYERS SQUIBB CO COM 110122108 3484 49464 SH SOLE 49464
- -----------------------------------------------------------------------------------------------------------------------------------
BURLINGTON NORTHN SANTA FE CP COM 12189T104 6508 209925 SH SOLE 209925
- -----------------------------------------------------------------------------------------------------------------------------------
BURLINGTON RES INC COM 122014103 2077 48027 SH SOLE 48027
- -----------------------------------------------------------------------------------------------------------------------------------
CARNIVAL CORP CL A 143658102 41716 860134 SH SOLE 860134
- -----------------------------------------------------------------------------------------------------------------------------------
CARRAMERICA RLTY CORP COM 144418100 433 17300 SH SOLE 17300
- -----------------------------------------------------------------------------------------------------------------------------------
CATERPILLAR INC COM 149123101 252 4200 SH SOLE 4200
- -----------------------------------------------------------------------------------------------------------------------------------
CENTURYTEL INC COM 156700106 363 9137 SH SOLE 9137
- -----------------------------------------------------------------------------------------------------------------------------------
CHEVRON CORPORATION COM 166751107 2772 29163 SH SOLE 29163
- -----------------------------------------------------------------------------------------------------------------------------------
CHUBB CORP COM 171232101 829 11928 SH SOLE 11928
- -----------------------------------------------------------------------------------------------------------------------------------
CISCO SYS INC COM 17275R102 17326 268620 SH SOLE 268620
- -----------------------------------------------------------------------------------------------------------------------------------
CITIGROUP INC COM 172967101 492 10358 SH SOLE 10358
- -----------------------------------------------------------------------------------------------------------------------------------
CLEAR CHANNEL COMMUNICATIONS COM 184502102 46728 677830 SH SOLE 677830
- -----------------------------------------------------------------------------------------------------------------------------------
COCA COLA CO COM 191216100 5190 83707 SH SOLE 83707
- -----------------------------------------------------------------------------------------------------------------------------------
COLGATE PALMOLIVE CO COM 194162103 241 4900 SH SOLE 4900
- -----------------------------------------------------------------------------------------------------------------------------------
COLUMBIA LABS INC COM 197779101 428 50000 SH SOLE 50000
- -----------------------------------------------------------------------------------------------------------------------------------
COMPAQ COMPUTER CORP COM 204493100 332 14000 SH SOLE 14000
- -----------------------------------------------------------------------------------------------------------------------------------
COMPUTER ASSOC INTL INC COM 204912109 209 3825 SH SOLE 3825
- -----------------------------------------------------------------------------------------------------------------------------------
CONSOLIDATED NAT GAS CO COM 209615103 229 3772 SH SOLE 3772
- -----------------------------------------------------------------------------------------------------------------------------------
CULLEN FROST BANKERS INC COM 229899109 2923 106056 SH SOLE 106056
- -----------------------------------------------------------------------------------------------------------------------------------
DATA DESIGN LABS INC SUB DEB CV 7%01 237649AD0 1 1200 PRN SOLE 1200
- -----------------------------------------------------------------------------------------------------------------------------------
DEVON ENERGY CORP COM 251799102 534 14917 SH SOLE 14917
- -----------------------------------------------------------------------------------------------------------------------------------
DISNEY WALT CO COM 254687106 1194 38756 SH SOLE 38756
- -----------------------------------------------------------------------------------------------------------------------------------
DU PONT E I DE NEMOURS CO COM 263534109 5292 77462 SH SOLE 77462
- -----------------------------------------------------------------------------------------------------------------------------------
E M C CORP MASS COM 268648102 220 4000 SH SOLE 4000
- -----------------------------------------------------------------------------------------------------------------------------------
EMERSON ELEC CO COM 291011104 240 3810 SH SOLE 3810
- -----------------------------------------------------------------------------------------------------------------------------------
EQUIFAX INC COM 294429105 10950 306818 SH SOLE 306818
- -----------------------------------------------------------------------------------------------------------------------------------
ERICSSON LM TEL CO ADR CL B SEK10 294821400 5436 165042 SH SOLE 165042
- -----------------------------------------------------------------------------------------------------------------------------------
EXXON CORP COM 302290101 9033 117126 SH SOLE 117126
- -----------------------------------------------------------------------------------------------------------------------------------
FEDERAL NATL MTG ASSN COM 313586109 31157 456511 SH SOLE 456511
- -----------------------------------------------------------------------------------------------------------------------------------
FIRST DATA CORP COM 319963104 18723 382600 SH SOLE 382600
- -----------------------------------------------------------------------------------------------------------------------------------
FORTUNE BRANDS INC COM 349631101 281 6800 SH SOLE 6800
- -----------------------------------------------------------------------------------------------------------------------------------
FEDERAL HOME LN MTG CORP COM 313400301 235 4050 SH SOLE 4050
- -----------------------------------------------------------------------------------------------------------------------------------
GENERAL ELEC CO COM 369604103 31777 281212 SH SOLE 281212
- -----------------------------------------------------------------------------------------------------------------------------------
GENERAL MLS INC COM 370334104 522 6500 SH SOLE 6500
- -----------------------------------------------------------------------------------------------------------------------------------
GENERAL MTRS CORP CL H NEW 370442832 23848 423495 SH SOLE 423495
- -----------------------------------------------------------------------------------------------------------------------------------
GIANT INDS INC COM 374508109 1811 182195 SH SOLE 182195
- -----------------------------------------------------------------------------------------------------------------------------------
GILLETTE CO COM 375766102 5207 126988 SH SOLE 126988
- -----------------------------------------------------------------------------------------------------------------------------------
GLOBAL MARINE INC COM 379352404 2068 133442 SH SOLE 133442
- -----------------------------------------------------------------------------------------------------------------------------------
GRUPO TELEVISA SA DE CV SPN ADR REPORD 40049J206 6455 144050 SH SOLE 144050
- -----------------------------------------------------------------------------------------------------------------------------------
GTE CORP COM 362320103 1704 22567 SH SOLE 22567
- -----------------------------------------------------------------------------------------------------------------------------------
HEALTHSOUTH CORP COM 421924101 268 18025 SH SOLE 18025
- -----------------------------------------------------------------------------------------------------------------------------------
HEWLETT PACKARD CO COM 428236103 13907 138375 SH SOLE 138375
- -----------------------------------------------------------------------------------------------------------------------------------
HISPANIC BROADCASTING CO CL A 43357B104 7603 100200 SH SOLE 100200
- -----------------------------------------------------------------------------------------------------------------------------------
HOME DEPOT INC COM 437076102 18266 283476 SH SOLE 283476
- -----------------------------------------------------------------------------------------------------------------------------------
HONEYWELL INC COM 438506107 23685 204400 SH SOLE 204400
- -----------------------------------------------------------------------------------------------------------------------------------
ILEX ONCOLOGY INC COM 451923106 1349 134850 SH SOLE 134850
- -----------------------------------------------------------------------------------------------------------------------------------
INFINITY BROADCASTING CP NEW COM 45662S102 2229 75400 SH SOLE 75400
- -----------------------------------------------------------------------------------------------------------------------------------
INTEL CORP COM 458140100 1418 23830 SH SOLE 23830
- -----------------------------------------------------------------------------------------------------------------------------------
INTERPUBLIC GROUP COS INC COM 460690100 303 7000 SH SOLE 7000
- -----------------------------------------------------------------------------------------------------------------------------------
JOHNSON & JOHNSON COM 478160104 32470 331331 SH SOLE 331331
- -----------------------------------------------------------------------------------------------------------------------------------
K N ENERGY INC COM 482620101 2749 205565 SH SOLE 205565
- -----------------------------------------------------------------------------------------------------------------------------------
KIMBERLY CLARK CORP COM 494368103 252 4418 SH SOLE 4418
- -----------------------------------------------------------------------------------------------------------------------------------
LILLY, ELI AND CO COM 532457108 216 3010 SH SOLE 3010
- -----------------------------------------------------------------------------------------------------------------------------------
LOEWS CORP COM 540424108 253 3200 SH SOLE 3200
- -----------------------------------------------------------------------------------------------------------------------------------
LUBYS INC COM 549282101 2625 175000 SH SOLE 175000
- -----------------------------------------------------------------------------------------------------------------------------------
LUCENT TECHNOLOGIES INC COM 549463107 39074 579409 SH SOLE 579409
- -----------------------------------------------------------------------------------------------------------------------------------
MANUFACTURED HOME CMNTYS INC COM 564682102 520 20000 SH SOLE 20000
- -----------------------------------------------------------------------------------------------------------------------------------
MCDONALDS CORP COM 580135101 313 7600 SH SOLE 7600
- -----------------------------------------------------------------------------------------------------------------------------------
MCI WORLDCOM INC COM 55268B106 17285 200840 SH SOLE 200840
- -----------------------------------------------------------------------------------------------------------------------------------
MEDIAONE GROUP INC COM COM 58440J104 357 4800 SH SOLE 4800
- -----------------------------------------------------------------------------------------------------------------------------------
MEDTRONIC INC COM 585055106 5034 64643 SH SOLE 64643
- -----------------------------------------------------------------------------------------------------------------------------------
MERCK & CO INC COM 589331107 1312 17820 SH SOLE 17820
- -----------------------------------------------------------------------------------------------------------------------------------
MICROSOFT CORP COM 594918104 1763 19550 SH SOLE 19550
- -----------------------------------------------------------------------------------------------------------------------------------
MOBIL CORP COM 607059102 9914 100392 SH SOLE 100392
- -----------------------------------------------------------------------------------------------------------------------------------
MOLEX INC COM 608554101 13202 356813 SH SOLE 356813
- -----------------------------------------------------------------------------------------------------------------------------------
MOTOROLA INC COM 620076109 5356 56525 SH SOLE 56525
- ------------------------------------------------------------------------------------------------------------------------------------
MURPHY OIL CORP COM 626717102 747 15300 SH SOLE 15300
- -----------------------------------------------------------------------------------------------------------------------------------
NEWELL RUBBERMAID INC COM 651229106 31870 687225 SH SOLE 687225
- -----------------------------------------------------------------------------------------------------------------------------------
NIKE INC CL B 654106103 600 9460 SH SOLE 9460
- -----------------------------------------------------------------------------------------------------------------------------------
NOKIA CORP SPONSORED ADR 654902204 50806 554874 SH SOLE 554874
- -----------------------------------------------------------------------------------------------------------------------------------
NORAM ENERGY CORP SUB DEB CV 6%12 655419AC3 18 20000 PRN SOLE 20000
- -----------------------------------------------------------------------------------------------------------------------------------
NORTHROP GRUMMAN CORP COM COM 666807102 4854 73200 SH SOLE 73200
- -----------------------------------------------------------------------------------------------------------------------------------
ORACLE SYS CORP COM 68389X105 30173 812750 SH SOLE 812750
- -----------------------------------------------------------------------------------------------------------------------------------
P P & L RES INC COM COM 693499105 246 8000 SH SOLE 8000
- -----------------------------------------------------------------------------------------------------------------------------------
PACIFICORP OREGON COM 695114108 1883 102496 SH SOLE 102496
- -----------------------------------------------------------------------------------------------------------------------------------
PEPSICO INC COM 713448108 3201 82745 SH SOLE 82745
- -----------------------------------------------------------------------------------------------------------------------------------
PFIZER INC COM 717081103 2500 68814 SH SOLE 68814
- -----------------------------------------------------------------------------------------------------------------------------------
PHARMACIA & UPJOHN INC COM 716941109 18440 324575 SH SOLE 324575
- -----------------------------------------------------------------------------------------------------------------------------------
PHLIP MORRIS COS INC COM 718154107 253 6300 SH SOLE 6300
- -----------------------------------------------------------------------------------------------------------------------------------
PHILLIPS PETE CO COM 718507106 357 7100 SH SOLE 7100
- -----------------------------------------------------------------------------------------------------------------------------------
PLACER DOME INC COM 725906101 723 61548 SH SOLE 61548
- -----------------------------------------------------------------------------------------------------------------------------------
PROCTER & GAMBLE CO COM 742718109 904 10134 SH SOLE 10134
- -----------------------------------------------------------------------------------------------------------------------------------
PROLOGIS TR SH BEN INT 743410102 16696 824480 SH SOLE 824480
- -----------------------------------------------------------------------------------------------------------------------------------
RAILTEX INC COM 750766107 225 16216 SH SOLE 16216
- -----------------------------------------------------------------------------------------------------------------------------------
RAYTHEON CO CL A 755111309 38687 561700 SH SOLE 561700
- -----------------------------------------------------------------------------------------------------------------------------------
REGENCY RLTY CORP COM 758939102 318 14500 SH SOLE 14500
- -----------------------------------------------------------------------------------------------------------------------------------
RELIANT ENERGY INC COM 75952J108 1809 65500 SH SOLE 65500
- -----------------------------------------------------------------------------------------------------------------------------------
ROWAN COS INC COM 779382100 225 12350 SH SOLE 12350
- -----------------------------------------------------------------------------------------------------------------------------------
ROYAL DUTCH PETE NY REG GLD 1.25 780257804 17768 294898 SH SOLE 294898
- -----------------------------------------------------------------------------------------------------------------------------------
SAFEWAY INC COM 786514208 349 7042 SH SOLE 7042
- -----------------------------------------------------------------------------------------------------------------------------------
SARA LEE CORP COM 803111103 299 13200 SH SOLE 13200
- -----------------------------------------------------------------------------------------------------------------------------------
SBC COMMUNICATIONS INC COM 78387G103 65497 1129254 SH SOLE 1129254
- -----------------------------------------------------------------------------------------------------------------------------------
SCHERING PLOUGH CORP COM 806605101 2534 48261 SH SOLE 48261
- -----------------------------------------------------------------------------------------------------------------------------------
SCHLUMBERGER LTD COM 806857108 930 14595 SH SOLE 14595
- -----------------------------------------------------------------------------------------------------------------------------------
SCOTTS CO CL A 810186106 876 18400 SH SOLE 18400
- -----------------------------------------------------------------------------------------------------------------------------------
SECURITY CAP GROUP INC CL A 81413P105 2657 3796 SH SOLE 3796
- -----------------------------------------------------------------------------------------------------------------------------------
SECURITY CAPITAL GROUP INC CL B 81413P204 3329 228575 SH SOLE 228575
- -----------------------------------------------------------------------------------------------------------------------------------
SMITHKLINE BEECHAM PLC ADR REP ORD 832378301 7783 117810 SH SOLE 117810
- -----------------------------------------------------------------------------------------------------------------------------------
SOUTHWEST AIRLS CO COM 844741108 3216 154998 SH SOLE 154998
- -----------------------------------------------------------------------------------------------------------------------------------
SPRINT CORP COM 852061100 1785 33673 SH SOLE 33673
- -----------------------------------------------------------------------------------------------------------------------------------
SPRINT/PCS CORP PCS COM ER1 852061506 458 8041 SH SOLE 8041
- -----------------------------------------------------------------------------------------------------------------------------------
STATE STR CORP COM 857477103 10044 117548 SH SOLE 117548
- -----------------------------------------------------------------------------------------------------------------------------------
STORAGE USA INC COM 861907103 630 19700 SH SOLE 19700
- -----------------------------------------------------------------------------------------------------------------------------------
STRYKER CORP COM 863667101 216 3600 SH SOLE 3600
- -----------------------------------------------------------------------------------------------------------------------------------
SYSCO CORP COM 871829107 1013 33975 SH SOLE 33975
- -----------------------------------------------------------------------------------------------------------------------------------
TELEFONOS DE MEXICO SA SPON ADR ORD L 879403780 1323 16375 SH SOLE 16375
- -----------------------------------------------------------------------------------------------------------------------------------
TEXACO INC COM 881694103 2342 37541 SH SOLE 37541
- -----------------------------------------------------------------------------------------------------------------------------------
TEXAS BIOTECHNOLOGY CORP COM 88221T104 190 40100 SH SOLE 40100
- -----------------------------------------------------------------------------------------------------------------------------------
TEXAS INSTR INC COM 882508104 44174 306766 SH SOLE 306766
- -----------------------------------------------------------------------------------------------------------------------------------
TEXAS UTILS CO COM 882848104 388 9368 SH SOLE 9368
- -----------------------------------------------------------------------------------------------------------------------------------
BROWN TOM INC COM 115660201 29121 1871208 SH SOLE 1871208
- -----------------------------------------------------------------------------------------------------------------------------------
TRIBUNE CO NEW COM 896047107 7560 86775 SH SOLE 86775
- -----------------------------------------------------------------------------------------------------------------------------------
TYCO INTL LTD NEW COM 902124106 7300 77040 SH SOLE 77040
- -----------------------------------------------------------------------------------------------------------------------------------
U S WEST INC NEW COM 91273H101 836 14227 SH SOLE 14227
- -----------------------------------------------------------------------------------------------------------------------------------
UNION PAC CORP COM 907818108 2495 42792 SH SOLE 42792
- -----------------------------------------------------------------------------------------------------------------------------------
UNION PAC RES GROUP INC COM 907834105 611 37433 SH SOLE 37433
- -----------------------------------------------------------------------------------------------------------------------------------
UNISYS CORP PFD A CV $3.75 909214207 351 5394 SH SOLE 5394
- -----------------------------------------------------------------------------------------------------------------------------------
VODAPHONE GROUP PLC SPONSORED ADR 92857T107 444 2254 SH SOLE 2254
- -----------------------------------------------------------------------------------------------------------------------------------
WARNER LAMBERT CO COM 934488107 26641 385405 SH SOLE 385405
- -----------------------------------------------------------------------------------------------------------------------------------
WASHINGTON MUTUAL INC COM 939322103 1603 45077 SH SOLE 45077
- -----------------------------------------------------------------------------------------------------------------------------------
WELLS FARGO & CO NEW COM 949746101 27278 638083 SH SOLE 638083
- -----------------------------------------------------------------------------------------------------------------------------------
WHITNEY HLDG CORP COM 966612103 671 16875 SH SOLE 16875
- -----------------------------------------------------------------------------------------------------------------------------------
WILLIAMS CO INC DEL COM 969457100 40496 951442 SH SOLE 951442
- -----------------------------------------------------------------------------------------------------------------------------------
APPLE COMPUTER INC COM 037833100 579 12,500 SH SHARED 1,2 12,500
- -----------------------------------------------------------------------------------------------------------------------------------
ALLMERICA FINL CORP COM 019754100 912 15000 SH SHARED 1,2 15000
- -----------------------------------------------------------------------------------------------------------------------------------
CHANCELLOR MEDIA CORP COM 158915108 441 8000 SH SHARED 1,2 8000
- -----------------------------------------------------------------------------------------------------------------------------------
AMGEN INC COM 031162100 1522 25000 SH SHARED 1,2 25000
- -----------------------------------------------------------------------------------------------------------------------------------
CBS CORP COM 12490K107 436 10000 SH SHARED 1,2 10000
- -----------------------------------------------------------------------------------------------------------------------------------
CIT GROUP INC COM 125577106 289 10000 SH SHARED 1,2 10000
- -----------------------------------------------------------------------------------------------------------------------------------
CISCO SYS INC COM 17275R102 1946 30200 SH SHARED 1,2 30200
- -----------------------------------------------------------------------------------------------------------------------------------
AMDOCS LTD ORD G02602103 569 25000 SH SHARED 1,2 25000
- -----------------------------------------------------------------------------------------------------------------------------------
FEDERAL NATL MTG ASSN COM 313586109 1365 20000 SH SHARED 1,2 20000
- -----------------------------------------------------------------------------------------------------------------------------------
GENERAL MTRS CORP (H) CL H NEW 370442832 282 5000 SH SHARED 1,2 5000
- -----------------------------------------------------------------------------------------------------------------------------------
HEFTEL BROADCASTING CORP CL A 422799106 759 10000 SH SHARED 1,2 10000
- -----------------------------------------------------------------------------------------------------------------------------------
HOME DEPOT INC COM 437076102 1611 25000 SH SHARED 1,2 25000
- -----------------------------------------------------------------------------------------------------------------------------------
KN ENERGY INC COM 482620101 983 73500 SH SHARED 1,2 73500
- -----------------------------------------------------------------------------------------------------------------------------------
NOKIA CORP SPONSORED ADR 654902204 3434 37500 SH SHARED 1,2 37500
- -----------------------------------------------------------------------------------------------------------------------------------
ORACLE SYSTEMS CORP COM 68389X105 928 25000 SH SHARED 1,2 25000
- -----------------------------------------------------------------------------------------------------------------------------------
ORANGE PLC ADR 685211104 362 4800 SH SHARED 1,2 4800
- -----------------------------------------------------------------------------------------------------------------------------------
RAYTHEON CO CL A 755111309 1033 15000 SH SHARED 1,2 15000
- -----------------------------------------------------------------------------------------------------------------------------------
SCOTTS CO CL A 810186106 805 16900 SH SHARED 1,2 16900
- -----------------------------------------------------------------------------------------------------------------------------------
BROWN TOM INC COM NEW 115660201 1561 100300 SH SHARED 1,2 100300
- -----------------------------------------------------------------------------------------------------------------------------------
WILLIAMS COS INC DEL COM 969457100 851 20000 SH SHARED 1,2 20000
- -----------------------------------------------------------------------------------------------------------------------------------
/TABLE>
</TABLE>
