UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13-F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: September 30, 1999
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: Speece, Lewis & Thorson, Inc.
Address: 2270 Metropolitan Centre
Minneapolis, MN 55402-2433
13F File Number: 28-3666
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: Fred H. Speece, Jr., CFA
Title: Principal
Phone: (612) 338-7043
Fred H. Speece, Jr. Minneapolis, Minnesota October 26, 1999
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.
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SPEECE, LEWIS & THORSON, INC.
FORM 13F SUMMARY PAGE
AS OF DATE: 09/30/99
RUN DATE: 10/26/99 1:52 P.M.
REPORT SUMMARY:
NUMBER OF OTHER INCLUDED MANAGERS: 0
FORM 13F INFORMATION TABLE ENTRY TOTAL: 39
FORM 13F INFORMATION TABLE VALUE TOTAL: $137,262,000
LIST OF OTHER INCLUDED MANAGERS:
NO. 13F FILE NUMBER NAME
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SPEECE, LEWIS & THORSON, INC. PAGE 1
RUN DATE: 10/26/99 1:52 P.M.
FORM 13F INFORMATION TABLE
AS OF DATE: 09/30/99
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
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
AMBAC FINANCIAL GROUP INC COM 023139108 2355 49706 SH SOLE 49706 0 0
AVNET INC COM COM 053807103 4448 105900 SH SOLE 105900 0 0
BARD C R INC COM COM 067383109 2739 58200 SH SOLE 58200 0 0
BORDERS GROUP INC COM COM 099709107 4452 303100 SH SOLE 303100 0 0
BOWATER INC COM COM 102183100 3964 75500 SH SOLE 75500 0 0
CK WITCO CORP. COM 12562C108 3583 240900 SH SOLE 240900 0 0
CONOCO INC CL A COM 208251306 3580 129000 SH SOLE 129000 0 0
CONSOLIDATED NAT GAS CO COM COM 209615103 3047 48850 SH SOLE 48850 0 0
COOPER INDUSTRIES INC COM 216669101 4004 85650 SH SOLE 85650 0 0
DELHAIZE AMER INC CL A COM 246688105 3168 149500 SH SOLE 149500 0 0
DOVER CORP COM 260003108 5079 124250 SH SOLE 124250 0 0
DPL INC COM COM 233293109 3986 226150 SH SOLE 226150 0 0
EDWARDS A G INC COM COM 281760108 3118 118200 SH SOLE 118200 0 0
ENSCO INTL INC COM COM 26874Q100 2503 138600 SH SOLE 138600 0 0
FIRST AMERN CORP TENN COM COM 318900107 3158 72600 SH SOLE 72600 0 0
HANNAFORD BROS CO COM COM 410550107 4716 66950 SH SOLE 66950 0 0
HORACE MANN EDUCATORS CP NEWCO COM 440327104 3621 140300 SH SOLE 140300 0 0
HORMEL GEO A & CO COM 440452100 4699 113750 SH SOLE 113750 0 0
JEFFERSON PILOT CORP COM COM 475070108 4110 65050 SH SOLE 65050 0 0
KEYSPAN CORP COM COM 49337W100 3959 138300 SH SOLE 138300 0 0
LEGGETT & PLATT INC COM 524660107 3837 194900 SH SOLE 194900 0 0
MASCO CORP COM COM 574599106 3574 115300 SH SOLE 115300 0 0
MBIA INC COM 55262C100 2079 44600 SH SOLE 44600 0 0
MILLER HERMAN INC COM COM 600544100 3988 166800 SH SOLE 166800 0 0
NCR CORP NEW COM COM 62886E108 3675 111150 SH SOLE 111150 0 0
NICOR INC COM COM 654086107 3644 98000 SH SOLE 98000 0 0
NISOURCE INC COM 65473P105 2767 125050 SH SOLE 125050 0 0
PREMARK INTL INC COM 740459102 4176 82700 SH SOLE 82700 0 0
SHERWIN WILLIAMS CO COM 824348106 3527 168450 SH SOLE 168450 0 0
SNAP ON TOOLS CORP COM 833034101 4165 128150 SH SOLE 128150 0 0
SOUTHTRUST CORP COM COM 844730101 3512 97900 SH SOLE 97900 0 0
STANDARD REGISTER CO COM 853887107 3114 132500 SH SOLE 132500 0 0
TIDEWATER INC COM 886423102 1224 48000 SH SOLE 48000 0 0
UNOCAL CORP COM COM 915289102 2472 66700 SH SOLE 66700 0 0
UTILICORP UTD INC COM COM 918005109 3445 163550 SH SOLE 163550 0 0
WERNER ENTERPRISES INC COM COM 950755108 4231 240075 SH SOLE 240075 0 0
WILMINGTON TR CORP COM COM 971807102 2312 47600 SH SOLE 47600 0 0
XL CAPITAL LTD. COM G98255105 3733 82950 SH SOLE 82950 0 0
YORK INTL CORP NEW COM COM 986670107 3498 97344 SH SOLE 97344 0 0
LINE COUNT: 39
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