United States
Securities and Exchange Commission
Washington, DC 20549
Form 13F
Form 13F Cover Page
Report for the Calendar Year or Quarter Ended: March 31, 1999
Institutional Investment Manager Filing this Report:
Name:Lockheed Martin Investment Management Company
6705 Rockledge Drive Suite 550
Bethesda, Md 20817
13F File Number #28-2847
Person Signing this report on Behalf of reporting Manager:
Name: Wayne H. Shaner
Title: Vice President
Phone: 301-571-7127
Signature, Place, and Date of Signing:
Wayne H. Shaner Bethesda, MD May 13, 1999
Report type: 13F Holdings Report
List of other Managers reporting for this Manager:
I am signing this report as required by the Securities Exchange Act of
1934.
>
<TABLE>
FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ACE Limited COM G0070K103 1247 40000 SH SOLE 40000
AGCO Corporation COM 001084102 2789 425000 SH SOLE 425000
AMR Corporation COM 001765106 11712 200000 SH SOLE 200000
ASA Ltd. COM 002050102 6051 364000 SH SOLE 364000
Alleghany Corporation COM 017175100 1500 8160 SH SOLE 8160
Anadarko Pete Corp. COM 032511107 5474 145000 SH SOLE 145000
Anglo American Gold Invt Ltd. COM 034870501 998 213000 SH SOLE 213000
Anglogold Limited Sponsored AD COM 035128206 13444 668002 SH SOLE 668002
Apache Corporation COM 244874103 19469 747002 SH SOLE 747002
Asarco COM 043413103 9945 720000 SH SOLE 720000
Atlantic Richfield COM 048825103 11992 164000 SH SOLE 164000
Battle Mountain Gold Co. COM 071593107 1709 621500 SH SOLE 621500
Berkshire Hathaway Inc. Cl B COM 084670207 23745 10100 SH SOLE 10100
Bethlehem Steel COM 087509105 14243 1726400 SH SOLE 1726400
Birmingham Steel COM 091250100 3218 817200 SH SOLE 817200
Borden Chemical and Plastic COM 099541203 7130 920000 SH SOLE 920000
Brush Wellman COM 117421107 998 68800 SH SOLE 68800
Chubb Corp. COM 171232101 1757 30000 SH SOLE 30000
Circus Circus Entertainment COM 172909103 23095 1315000 SH SOLE 1315000
Cleveland-Cliffs Inc. COM 185896107 13046 383000 SH SOLE 383000
Coeur D Alene Mines Corp. COM 192108108 1489 360966 SH SOLE 360966
Consolidated Paper COM 209759109 1175 50000 SH SOLE 50000
Cooper Tire & Rubber COM 216831107 6431 350000 SH SOLE 350000
Cott Corporation COM 22163n106 731 300000 SH SOLE 300000
Cyprus Amax Minerals COM 23281P106 6726 554700 SH SOLE 554700
Deltic Timber Corporation COM 247850100 1027 43228 SH SOLE 43228
Detroit Diesel COM 250837101 16886 750500 SH SOLE 750500
Dow Jones & Company, Inc. COM 260561105 944 20000 SH SOLE 20000
Esg Re Limited COM g31215109 873 55000 SH SOLE 55000
Federal Realty Investment Trus COM 313747206 2119 100000 SH SOLE 100000
Ford Motor Company COM 345370100 12471 220000 SH SOLE 220000
Freeport-McMoRan Copper & Gold COM 35671D105 1335 130274 SH SOLE 130274
Getchell Gold Corporation COM 33761W109 6547 250000 SH SOLE 250000
Global Industrial Technology COM 455905109 5804 559400 SH SOLE 559400
Gold Field Limited, ADR COM 38059r100 464 80682 SH SOLE 80682
Halliburton COM 261597108 15993 415400 SH SOLE 415400
Hecla Mining Co. COM 422704106 1579 587600 SH SOLE 587600
Hecla Mining Preferred Conv. COM 422704205 1846 52000 SH SOLE 52000
Helmerich & Payne Inc. COM 423452101 20076 884900 SH SOLE 884900
Hillenbrand Industries COM 431573104 1617 35000 SH SOLE 35000
Homestake Mining Co. COM 437614100 18666 2164130 SH SOLE 2164130
Horace Mann COM 440327104 1043 45000 SH SOLE 45000
Hubbell Inc. Cl B COM 443510201 1600 40000 SH SOLE 40000
Imperial Chemical - ADR COM 452704505 6804 190000 SH SOLE 190000
Imperial Oil COM 453038408 18006 941500 SH SOLE 941500
Intermet COM 45881K104 1605 120000 SH SOLE 120000
Intl Game Technology COM 459902102 5119 350000 SH SOLE 350000
J.P. Morgan & Company COM 616880100 11412 92500 SH SOLE 92500
Kaneb Service COM 484170105 609 150000 SH SOLE 150000
Kellogg Company COM 487836108 1014 30000 SH SOLE 30000
Kerr McGee Corp. COM 492386107 3150 96000 SH SOLE 96000
Kinross Gold Corp. COM 496902107 653 307508 SH SOLE 307508
Koninklijke Philips Electronic COM 500472105 1649 20000 SH SOLE 20000
LTV Corporation COM 501921100 8202 1526000 SH SOLE 1526000
Leucadia National Corp COM 527288104 907 30000 SH SOLE 30000
Loew's Corporation COM 540424108 9701 130000 SH SOLE 130000
Longview Fibre Company COM 543213102 5955 515000 SH SOLE 515000
Louisiana-Pacific Corporation COM 546347105 18932 1016500 SH SOLE 1016500
Markel Corporation COM 570535104 1442 8000 SH SOLE 8000
Meridian Gold Inc. COM 302494109 2759 469600 SH SOLE 469600
Mesabi Trust COM 590672101 450 150000 SH SOLE 150000
Mirage Resorts Inc. COM 60462e104 14648 689300 SH SOLE 689300
Mississippi Chemical Corp. COM 605288208 5572 594300 SH SOLE 594300
Mitchell Energy Cl B non-vtg. COM 606592301 1155 92400 SH SOLE 92400
Murphy Oil COM 626717102 8250 198800 SH SOLE 198800
Newmont Mining Corp. COM 651639106 12144 693944 SH SOLE 693944
Northrop Grumman Corp. COM 666807102 11975 200000 SH SOLE 200000
Overseas Shipholding Group COM 690368105 794 68300 SH SOLE 68300
Phillip Morris Cos. COM 718154107 2463 70000 SH SOLE 70000
Phillips Petroleum Co. COM 718507106 15403 326000 SH SOLE 326000
Pope & Talbot COM 732827100 3272 513200 SH SOLE 513200
Potlatch Corp COM 737628107 9404 277100 SH SOLE 277100
Rio Tinto Plc-Spon. ADR COM 767204100 4125 75000 SH SOLE 75000
Roadway Express Inc. COM 769742107 1706 100000 SH SOLE 100000
Rowan Companies Inc. COM 779382100 14147 1115000 SH SOLE 1115000
Royal Gold Inc. COM 780287108 1024 256000 SH SOLE 256000
SAFECO Corp. COM 786429100 11322 280000 SH SOLE 280000
San Juan Basin Rty Trust Unit COM 798241105 1691 250500 SH SOLE 250500
Saul Centers Inc. COM 804395101 1024 70000 SH SOLE 70000
Sbarro Inc. COM 805844107 1259 47300 SH SOLE 47300
Schlumberger Ltd. COM 806857108 6019 100000 SH SOLE 100000
Sonat Inc. COM 835415100 5100 170000 SH SOLE 170000
Stillwater Mining Company COM 86074q102 527 20000 SH SOLE 20000
Timken Company COM 887389104 4062 250000 SH SOLE 250000
UICI COM 902737105 1237 55000 SH SOLE 55000
UST Inc. COM 902911106 1829 70000 SH SOLE 70000
USX Marathon Group COM 902905827 1185 43100 SH SOLE 43100
USX-U.S. Steel Group COM 90337T101 15477 658600 SH SOLE 658600
Union Carbide Corporation COM 905581104 12924 286000 SH SOLE 286000
Union Pacific Resources Group COM 907834105 12101 1019000 SH SOLE 1019000
Valero Energy Corp COM 91913y100 11838 475900 SH SOLE 475900
Volvo AB ADR COM 928856400 5937 230000 SH SOLE 230000
Weis Markets Inc. COM 948849104 912 25000 SH SOLE 25000
Weyerhaeuser Co. COM 962166104 7770 140000 SH SOLE 140000
XL Capital LTD - CL A COM 982551056 1519 25000 SH SOLE 25000
Coeur D Alene Mines Corp. 6.00 CONV 192108ab4 899 1450000 PRN SOLE 1450000
/TABLE>
</TABLE>