KORNITZER CAPITAL MANAGEMENT INC /KS
13F-HR, 2000-04-27
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

FORM 13F

FORM 13F COVER PAGE

Report for the Quarter Ended: March 31, 2000

Check here if Amendment [  ]; Amendment Number:
This Amendment (Check only one.): [  ] is a restatement.
				  [XX] adds new holdings entries.

Institutional Investment Manager Filing this Report:

Name:	Kornitzer Capital Management, Inc.
Address:5420 W 61st Place
	Shawnee Mission, KS  66205

13F File Number: 028-03620

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 the Report on Behalf of Reporting Manager:

Name:	John C. Kornitzer
Title:	President
Phone:	913-677-7778
Signature, Place, and Date of Signing:

	John C. Kornitzer   Overland Park, KS   April 27, 2000

Report Type (Check only one.):

[ X]	13F HOLDINGS REPORT.

[  ]	13F NOTICE.

[  ]	13F COMBINATION REPORT.

List of Other Managers Reporting for this Manager:

I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE
ACT OF 1934.
<PAGE>


FORM 13F SUMMARY PAGE

Report Summary:

Number of Other Included Managers:	0

Form 13F Information Table Entry Total:	230

Form 13F Information Table Value Total:	550,379
<TABLE><C><C>

                                                  KORNITZER CAPITAL MANAGEMENT, INC
                                                              FORM 13F
                                                           March 31, 2000

                                                                                                              Voting Authority
                                                                                                         --------------------------
                                                           Value   Shares/  Sh/ Put/ Invstmt    Other
        Name of Issuer          Title of class    CUSIP   (x$1000) Prn Amt  Prn Call Dscretn   Managers     Sole    Shared   None
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------

ABBOTT LABORATORIES            COM              002824100     2119    60228 SH       Sole                             60228
AFFYMETRIX INC                 COM              00826T108     1648    11100 SH       Sole                             11100
AFLAC INCORPORATED             COM              001055102     2624    57600 SH       Sole                             57600
AHL SERVICES INC               COM              001296102      709    70000 SH       Sole                             70000
ALLSTATE CORP                  COM              020002101     2400   100800 SH       Sole                            100800
ALZA CORP CLASS A              COM              022615108      248     6600 SH       Sole                              6600
AMERICAN EXPRESS COMPANY       COM              025816109     3105    20850 SH       Sole                             20850
AMERICAN HOME PRODS            COM              026609107     5695   105950 SH       Sole                            105950
AMERICAN INTERNATIONAL GROUP I COM              026874107     3473    31721 SH       Sole                             31721
ANALOG DEVICES                 COM              032654105     7473    92832 SH       Sole                             92832
AON CORP                       COM              037389103      906    28079 SH       Sole                             28079
APOLLO GROUP INC CL A          COM              037604105      282    10000 SH       Sole                             10000
APPLIED MATERIALS              COM              038222105    16713   177323 SH       Sole                            177323
APPLIED SCIENCE & TECHNOLOGY   COM              038236105     1512    50000 SH       Sole                             50000
ARGOSY GAMING CO               COM              040228108    15894  1115350 SH       Sole                           1115350
ATLANTIC RICHFIELD CO          COM              048825103      561     6600 SH       Sole                              6600
ATMEL CORP                     COM              049513104     8700   168525 SH       Sole                            168525
AXYS PHARMACEUTICALS           COM              054635107      265    34500 SH       Sole                             34500
BANK OF AMERICA CORP           COM              060505104     2379    45359 SH       Sole                             45359
BARNES & NOBLE INC             COM              067774109     1414    60350 SH       Sole                             60350
BEST FOODS                     COM              08658U101     2716    58015 SH       Sole                             58015
BOEING CO.                     COM              097023105     2358    62360 SH       Sole                             62360
BP AMOCO, INC                  COM              055622104     3343    62786 SH       Sole                             62786
BRISTOL MYERS SQUIBB CO        COM              110122108     4719    81366 SH       Sole                             81366
BRUNSWICK CORP                 COM              117043109      975    51500 SH       Sole                             51500
CADENCE DESIGN SYSTEMS, INC    COM              127387108     1814    87950 SH       Sole                             87950
CALLON PETROLEUM CO            COM              13123X102      567    46800 SH       Sole                             46800
CARNIVAL CORP CLASS A          COM              143658102     1614    65050 SH       Sole                             65050
CELL GENESYS INC               COM              150921104      405    19000 SH       Sole                             19000
CENTEX CONSTRUCTION PRODUCTS I COM              15231R109      265    10100 SH       Sole                             10100
CHEVRON CORP                   COM              166751107     2926    31650 SH       Sole                             31650
CHUBB CORP                     COM              171232101      230     3400 SH       Sole                              3400
CIENA CORPORATION              COM              171779101     4452    35300 SH       Sole                             35300
CISCO SYS INC COM              COM              17275R102    17172   222106 SH       Sole                            222106
COACHMEN INDUSTRIES INC        COM              189873102     1177    84800 SH       Sole                             84800
COASTAL CORP                   COM              190441105      819    17800 SH       Sole                             17800
COCA-COLA                      COM              191216100     1821    38794 SH       Sole                             38794
COMPAQ COMPUTER CORP           COM              204493100     1585    58700 SH       Sole                             58700
DAIMLERCHRYSLER                COM              D1668R123     3257    49770 SH       Sole                             49770
DALLAS SEMICONDUCTOR           COM              235204104     2613    71600 SH       Sole                             71600
DEVRY INC.                     COM              251893103      274     9000 SH       Sole                              9000
DIAL CORP.  NEW                COM              25247D101      413    30020 SH       Sole                             30020
DIEBOLD INC                    COM              253651103     3510   127650 SH       Sole                            127650
DIGIMARC CORPORATION           COM              253807101      220     5000 SH       Sole                              5000
DILLARD'S INC CLASS A COMMON   COM              254067101      185    11250 SH       Sole                             11250
DISNEY (WALT) CO.              COM              254687106     1645    39877 SH       Sole                             39877
E I DUPONT DE NEMOURS & CO     COM              263534109      351     6630 SH       Sole                              6630
EAGLE GEOPHYSICAL              COM              269524104        0    25000 SH       Sole                             25000
EASTMAN CHEMICAL CO            COM              277432100      282     6200 SH       Sole                              6200
EDUCATION MANAGEMENT CORP      COM              28139T101     1801   124750 SH       Sole                            124750
EDUTREK ITERNATIONAL CL A      COM              28164K108      469   326000 SH       Sole                            326000
EL PASO ENERGY CORPORATION     COM              283905107     4634   114775 SH       Sole                            114775
ELAN CORP PLC ADR              COM              284131208     1634    34400 SH       Sole                             34400
ELCOR CORP                     COM              284443108     5482   158900 SH       Sole                            158900
ENRON CORP                     COM              293561106     9288   124050 SH       Sole                            124050
ETHAN ALLEN INTERIORS INC      COM              297602104     4554   182150 SH       Sole                            182150
EVEREST RE GROUP LTD           COM              G3223R108      744    22800 SH       Sole                             22800
EXIDE CORP                     COM              302051107      830    70300 SH       Sole                             70300
EXXON MOBIL CORP COM           COM              30231G102      607     7789 SH       Sole                              7789
FAIRFIELD COMMUNITIES INC NEW  COM              304231301      693    87317 SH       Sole                             87317
FEDEX CORPORATION              COM              31428X106     2902    74775 SH       Sole                             74775
FIRSTSERVICE CORPORATION       COM              33761N109      971    88000 SH       Sole                             88000
FLEETBOSTON FINANCIAL CORPORAT COM              339030108     1652    45250 SH       Sole                             45250
FRONTIER OIL CO                COM              35914P105    18541  2472200 SH       Sole                           2472200
GENERAL ELECTRIC               COM              369604103      815     5236 SH       Sole                              5236
GENERAL MOTORS CORPORATION     COM              370442105     4546    54901 SH       Sole                             54901
GIANT INDUSTRIES INC           COM              374508109      127    14100 SH       Sole                             14100
GILLETTE CO                    COM              375766102     1679    44550 SH       Sole                             44550
GLOBAL MARINE INC NEW          COM              379352404     3451   136000 SH       Sole                            136000
GOODYEAR TIRE & RUBBER COMPANY COM              382550101     1099    47150 SH       Sole                             47150
GTE CORP                       COM              362320103     1744    24559 SH       Sole                             24559
HALLIBURTON CO.                COM              406216101      888    21600 SH       Sole                             21600
HALSEY DRUG COMPANY, INC. - DO COM              406369108       19    10000 SH       Sole                             10000
HARTFORD FINANCIAL SVC GROUP I COM              416515104      295     5600 SH       Sole                              5600
HEADWAY CORPORATE RESOURCES    COM              422101105       54    16000 SH       Sole                             16000
HELLER FINANCIAL INC           COM              423328103      943    41000 SH       Sole                             41000
HEWLETT PACKARD CO             COM              428236103     7614    57305 SH       Sole                             57305
HMT TECHNOLOGY                 COM              403917107     2681   809300 SH       Sole                            809300
HOLLINGER INTERNATIONAL        COM              435569108     1032    96000 SH       Sole                             96000
HOME DEPOT INC                 COM              437076102      206     3197 SH       Sole                              3197
HONEYWELL INTERNATIONAL INC.   COM              438516106     1592    30210 SH       Sole                             30210
HUMAN GENOME SCIENCES INC      COM              444903108     3705    44600 SH       Sole                             44600
HUMANA INC                     COM              444859102      183    25000 SH       Sole                             25000
ICO HOLDINGS, INC.             COM              449293109     1337   838750 SH       Sole                            838750
INT'L BUSINESS MACHINES        COM              459200101     2325    19700 SH       Sole                             19700
INTEGRATED DEVICE TECHNOLOGY,  COM              458118106      757    19100 SH       Sole                             19100
INTEL CORP                     COM              458140100     9419    71390 SH       Sole                             71390
INTERFACE INC.                 COM              458665106     1311   308400 SH       Sole                            308400
INTERSTATE BAKERIES            COM              46072H108      547    38400 SH       Sole                             38400
INTEVAC                        COM              461148108     1233   266600 SH       Sole                            266600
INTRAWARE INC.                 COM              46118M103      207     5000 SH       Sole                              5000
ITT EDUCATION                  COM              45068B109     2185   136550 SH       Sole                            136550
JACK IN THE BOX, INC           COM              466367109      426    20000 SH       Sole                             20000
JOHNSON & JOHNSON              COM              478160104     5356    76236 SH       Sole                             76236
K MART CORP                    COM              482584109      758    78200 SH       Sole                             78200
KANSAS CITY SOUTHERN INDUSTRIE COM              485170104     4456    51849 SH       Sole                             51849
KING PHARMACEUTICALS INC       COM              495582108     1641    52100 SH       Sole                             52100
KORN/FERRY INTERNATIONAL       COM              500643200     1003    33700 SH       Sole                             33700
LEAR CORP                      COM              521865105     4103   145900 SH       Sole                            145900
LIZ CLAIBORNE INC              COM              539320101      740    16150 SH       Sole                             16150
LOCKHEED MARTIN CORP           COM              539830109     1572    76900 SH       Sole                             76900
LUCENT TECHNOLOGIES INC        COM              549463107     1647    26884 SH       Sole                             26884
MAXIM INTERGRATED PRODUCTS INC COM              57772K101     1403    19750 SH       Sole                             19750
MCDERMOTT INTL                 COM              580037109     3736   406600 SH       Sole                            406600
MCDONALD'S CORP                COM              580135101     4672   124990 SH       Sole                            124990
MEDIA METRIX, INC.             COM              58440x103      210     5000 SH       Sole                              5000
MERCK & CO                     COM              589331107     3485    56099 SH       Sole                             56099
MERCURY GENERAL CORP.          COM              589400100      712    24150 SH       Sole                             24150
META GROUP                     COM              591002100     2922   112125 SH       Sole                            112125
MICRON TECHNOLOGY              COM              595112103     6426    51000 SH       Sole                             51000
MICROSOFT CORP                 COM              594918104     7640    71905 SH       Sole                             71905
MIDWEST EXPRESS HOLDINGS       COM              597911106     1905    74325 SH       Sole                             74325
MIRAGE RESORTS INC             COM              60462E104     2928   151100 SH       Sole                            151100
MODEM MEDIA POPPE TYSON        COM              607533106      324    10000 SH       Sole                             10000
MOTOROLA INC                   COM              620076109     2142    14668 SH       Sole                             14668
MYLAN LABS                     COM              628530107      410    14927 SH       Sole                             14927
NABORS INDUSTRIES INC          COM              629568106     2946    75900 SH       Sole                             75900
NATIONAL SEMICONDUCTOR         COM              637640103    10941   180100 SH       Sole                            180100
NICOR INC                      COM              654086107      247     7500 SH       Sole                              7500
NOBLE DRILLING CORP            COM              655042109      236     5700 SH       Sole                              5700
NORTHERN TRUST CORP            COM              665859104      281     4164 SH       Sole                              4164
NORTHROP GRUMMAN CORP          COM              666807102     1511    28550 SH       Sole                             28550
OCEAN ENERGY INC               COM              67481E106      646    44950 SH       Sole                             44950
PACTIV CORPORATION             COM              695257105      258    29700 SH       Sole                             29700
PAUL HARRIS STORES             COM              703555201      239    78900 SH       Sole                             78900
PE CORP - CELERA GENOMICS GRP  COM              69332S201     1363    14800 SH       Sole                             14800
PE CORP - PE BIOSYSTEMS GROUP  COM              69332S102      984    10200 SH       Sole                             10200
PEPSICO INC.                   COM              713448108     2965    85018 SH       Sole                             85018
PFIZER                         COM              717081103      396    10824 SH       Sole                             10824
PNC BANK CORP                  COM              693475105     1300    28850 SH       Sole                             28850
PRAXAIR INC                    COM              74005P104     1432    34400 SH       Sole                             34400
PREMIER PARKS INC              COM              740540208      840    40000 SH       Sole                             40000
PROCTER & GAMBLE CO            COM              742718109     1907    33750 SH       Sole                             33750
QUESTAR CORP                   COM              748356102     2627   141500 SH       Sole                            141500
QUINTILES TRANSNATIONAL CORP   COM              748767100     3709   217400 SH       Sole                            217400
RAYTHEON CLASS A               COM              755111309      368    19580 SH       Sole                             19580
REPUBLIC GROUP INC             COM              760473108      193    18000 SH       Sole                             18000
ROCKWELL INTERNATIONAL CORP NE COM              773903109     1902    45500 SH       Sole                             45500
ROYAL DUTCH PETROLEUM COMPANY  COM              780257804     2453    42430 SH       Sole                             42430
SARA LEE                       COM              803111103     3796   210900 SH       Sole                            210900
SBC COMMUNICATIONS             COM              78387G103      243     5771 SH       Sole                              5771
SCHERING-PLOUGH                COM              806605101     5587   150503 SH       Sole                            150503
SCHLUMBERGER LTD               COM              806857108     4525    59150 SH       Sole                             59150
SCIENTIFIC ATLANTA INC         COM              808655104     7119   112550 SH       Sole                            112550
SEAGATE TECHNOLOGY INC         COM              811804103      494     8000 SH       Sole                              8000
SERVICE CORP INTERNATIONAL     COM              817565104       33    10900 SH       Sole                             10900
SERVICEMASTER COMPANY          COM              81760N109     1279   113650 SH       Sole                            113650
SIGMA ALDRICH CORP             COM              826552101     1704    63400 SH       Sole                             63400
SILICON VALLEY GROUP INC       COM              827066101      511    18600 SH       Sole                             18600
SOUTHWEST AIRLINES             COM              844741108     9759   468904 SH       Sole                            468904
STAMPS.COM INC                 COM              852857101      550    28500 SH       Sole                             28500
STANCORP FINANCIAL GROUP       COM              852891100      739    27000 SH       Sole                             27000
STATION CASINOS INC            COM              857689103     1582    72550 SH       Sole                             72550
STEEL DYNAMICS                 COM              858119100      491    42500 SH       Sole                             42500
STRAYER EDUCATION              COM              863236105     3748   144150 SH       Sole                            144150
SUNGARD DATA SYSTEMS INC       COM              867363103     4243   112410 SH       Sole                            112410
SUNOCO INC.                    COM              86764P109      638    23300 SH       Sole                             23300
SUNRISE ASSISTED LIVING        COM              86768K106      242    18300 SH       Sole                             18300
SUNTRUST BANKS INC             COM              867914103      289     5000 SH       Sole                              5000
SUSQUEHANNA BANCSHARES INC     COM              869099101      504    36500 SH       Sole                             36500
SYLVAN LEARNING SYSTEMS INC    COM              871399101      558    35000 SH       Sole                             35000
TELEFLEX INC.                  COM              879369106     1645    46500 SH       Sole                             46500
TEXACO INCORPORATED            COM              881694103     1911    35559 SH       Sole                             35559
TEXAS INDUSTRIES INC           COM              882491103     3874   122500 SH       Sole                            122500
THERMOQUEST CORP               COM              883655102      754    45000 SH       Sole                             45000
TRANSOCEAN SEDCO FOREX INC.    COM              G90078109      540    10521 SH       Sole                             10521
TRINITY INDUSTRIES             COM              896522109      902    38100 SH       Sole                             38100
TRITON ENERGY LIMITED CL A     COM              G90751101     8638   246350 SH       Sole                            246350
TYCO INTERNATIONAL LTD         COM              902124106     1413    28186 SH       Sole                             28186
UNION PACIFIC RESOURCES GROUP  COM              907834105      724    49915 SH       Sole                             49915
UNION PLANTERS CORP            COM              908068109      894    29000 SH       Sole                             29000
UNITED NATIONAL BANKCORP NJ    COM              910909100      613    28414 SH       Sole                             28414
UNITED TECHNOLOGIES CORP       COM              913017109     3520    55700 SH       Sole                             55700
UNUMPROVIDENT CORP             COM              91529Y106      849    50100 SH       Sole                             50100
VANDERBILT GOLD DO NOT SELL    COM              921786109        2    43000 SH       Sole                             43000
VARSITYBOOKS.COM               COM              922300108      147    37300 SH       Sole                             37300
VIAD CORPORATION               COM              92552R109      881    38520 SH       Sole                             38520
VITRIX INC                     COM              92850R108       73    79845 SH       Sole                             79845
WAL MART STORES INC.           COM              931142103      379     6700 SH       Sole                              6700
WARNER CHILCOTT INC            COM              934435207      922    57200 SH       Sole                             57200
WARNER LAMBERT CO              COM              934488107      311     3185 SH       Sole                              3185
WASHINGTON MUTUAL              COM              939322103     2770   104515 SH       Sole                            104515
WESTERN DIGITAL CORP           COM              958102105      980   131800 SH       Sole                            131800
WILLIAMS COS.                  COM              969457100     3925    89331 SH       Sole                             89331
WILMINGTON TRUST CORP          COM              971807102      924    19000 SH       Sole                             19000
WIND RIV SYS INC               COM              973149107     1316    36300 SH       Sole                             36300
WRIGLEY WM JR CO               COM              982526105     2710    35275 SH       Sole                             35275
BETHLEHEM STEEL CONV PREF $3.5 PFD CV           087509501     1226    44600 SH       Sole                             44600
CARRIAGE SRV CAP  TRUST 7% 144 PFD CV           14444T101      780    30000 SH       Sole                             30000
FREEPORT-MCMORAN CORP 7%       PFD CV           35671D501      718    48500 SH       Sole                             48500
ICO HOLDINGS,  INC. $1.6875 SE PFD CV           449293307    15640  1009050 SH       Sole                           1009050
K MART FINANCING  7.75%        PFD CV           498778208     2069    48050 SH       Sole                             48050
LOMAK FINANCING TRUST 5.75%    PFD CV           541505400      279    14870 SH       Sole                             14870
LOMAK FINANCING TRUST 5.75% 14 PFD CV           541505202      487    26000 SH       Sole                             26000
TESORO PETROLEUM CONV PRFD 7.2 PFD CV           881609408      582    48000 SH       Sole                             48000
TEXAS INDUSTRIES INC 5.500%    PFD CV           873119200     4877   151800 SH       Sole                            151800
UNION PACIFIC CAP TRUST 6.25%  PFD CV           907824403      472    12000 SH       Sole                             12000
UNOCAL CORP 6.25% CONV PREF    PFD CV           91528T207      216     5000 SH       Sole                              5000
ALLEGHENY BEV CORP (ESC FOR FU CONV             0172668J9        0    10000 PRN      Sole                             10000
ALLWASTE INC *4  7.25% COUPON  CONV             020047AA4      484  6051000 PRN      Sole                           6051000
ALZA CORP                      CONV             022615AD0     1070  1000000 PRN      Sole                           1000000
EDO CORP *0                    CONV             281347AB0     1175  1492000 PRN      Sole                           1492000
EXIDE CORP 144A UNREGISTERED * CONV             302051AF4     2439  4242000 PRN      Sole                           4242000
HEXCEL CORP                    CONV             428291AA6     1676  2540000 PRN      Sole                           2540000
HEXCEL CORPORATION             CONV             428290AA8      532   776000 PRN      Sole                            776000
HILTON HOTELS                  CONV             432848AL3     2416  3190000 PRN      Sole                           3190000
HMT TECHNOLOGY *9              CONV             403917AD9     9655 20989000 PRN      Sole                          20989000
HMT TECHNOLOGY 144A *3         CONV             403917AB3      652  1500000 PRN      Sole                           1500000
INTEGRATED DEVICE TECHNOLOGY * CONV             458118AA4     5619  4068000 PRN      Sole                           4068000
INTEVAC *2                     CONV             461148AC2     7559 14822000 PRN      Sole                          14822000
INTEVAC 144A REGISTERED UPON S CONV             461148AA6      826  1620000 PRN      Sole                           1620000
KERR-MCGEE CORP                CONV             492386AL1     4587  4828000 PRN      Sole                           4828000
KEY ENERGY SERVICES, INC       CONV             492914AC0      292   250000 PRN      Sole                            250000
KEY ENERGY SERVICES, INC       CONV             492914AF3    17369 23275000 PRN      Sole                          23275000
KEY ENERGY SERVICES, INC 144A  CONV             492914AD8      933  1250000 PRN      Sole                           1250000
KOLLMORGEN CORP                CONV             500440AA0       24    25000 PRN      Sole                             25000
LOMAK PETROLEUM                CONV             541509AF2     2820  5411000 PRN      Sole                           5411000
MICRON TECHNOLOGY              CONV             595112AB9      936   500000 PRN      Sole                            500000
MORAN ENERGY INC *1            CONV             616457AC1     4755  5466000 PRN      Sole                           5466000
OHM(ITX)CORP SUB DEB CONV  *7  CONV             670839AA7     9422 11020000 PRN      Sole                          11020000
PARKER DRILLING CO.            CONV             701081AD3       75   100000 PRN      Sole                            100000
ROY WESTON  *4                 CONV             961137AA4       13    15000 PRN      Sole                             15000
SCAN TRON CORP SUB DEB CONV    CONV             805894AA3       17    23000 PRN      Sole                             23000
SIMULA, INC                    CONV             829206AB7      340   596000 PRN      Sole                            596000
SOUTHERN MINERALS              CONV             843367AA1      103   300000 PRN      Sole                            300000
SUNRISE ASSISTED LIVING        CONV             86768KAC0     7056  8960000 PRN      Sole                           8960000
SWIFT ENERGY                   CONV             870738AB7     1061  1227000 PRN      Sole                           1227000
TRANS-LUX CORP                 CONV             893247AD8     1205  1485000 PRN      Sole                           1485000
UROMED CORP                    CONV             917274AC6      390   650000 PRN      Sole                            650000
WESTERN DIGITAL                CONV             958102AH8      291  1500000 PRN      Sole                           1500000
REPORT SUMMARY                230 DATA RECORDS              550379            0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED

</TABLE>




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