UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
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: M.D. Sass Investors Services, Inc.
Address: 1185 Avenue of the Americas, 18th Floor New York, New York 10036
Form 13F File Number: 28-2771
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: Martin E. Winter
Title: Senior Vice President, Finance
Phone: 212-730-2000
Signature, Place, and Date of Signing:
/s/ Martin E. Winter, New York, New York, November 12, 1999
[Signature] [City, State] [Date]
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).)
List of Other Managers Reporting for this Manager:
Name: 13F File No.
1. M.D. Sass Associates, Inc. 28-2770
2. M.D. Sass Management, Inc. Pending
3. Resurgence Asset Management, L.L.C. Pending
<TABLE>
FORM 13F 9/30/99
REPORTING MANAGER; M. D. SASS PAGE 1
- ------------------------------------------------------------------------------------------------------------------------------------
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OR INVESTMENT DISCRETION MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(A) (B) (C) (A) (B) (C)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
AMFM INC COMMON 001693100 425250 7000 7000 7000
AT&T CORP COMMON 001957109 1193031 27426 27426 27426
AT&T CORP COMMON 001957208 2601204 69714 69714 69714
AVX CORP NEW COMMON 002444107 3602069 102550 102550 96050 6500
ADVANCED FIBRE COMMUNICA COMMON 00754A105 200250 9000 9000 9000
AIR EXPRESS INTL CORP COMMON 009104100 3230700 142400 142400 134000 8400
ALTERNATIVE RESOURCES CO COMMON 02145R102 946200 182400 182400 171700 10700
AMERICAN REAL ESTATE PAR COMMON 029169109 170000 20000 20000 20000
AMGEN INC COMMON 031162100 978000 12000 12000 12000
AMPAL AMERN ISRAEL CORP COMMON 032015109 357500 55000 55000 55000
ANDREW CORP COMMON 034425108 2875563 165500 165500 155900 9600
ARCH COMMUNICATIONS GROU COMMON 039381504 36442384 9110596 9110596 9110596
ASPEN TECHNOLOGY INC COMMON 045327103 1131000 116000 116000 116000
AVON PRODS INC COMMON 054303102 1014335 40880 40880 37900 2980
BASIN EXPL INC COMMON 070107107 204000 8500 8500 8500
BENTON OIL & GAS CO COMMON 083288100 134375 50000 50000 50000
BLACK BOX CORP DEL COMMON 091826107 3696000 70400 70400 66200 4200
BLUE SQUARE - ISRAEL LTD COMMON 096055108 275000 20000 20000 20000
CAREERBUILDER INC COMMON 141684100 70313 10000 10000 10000
--------- --------- --------- --------- --------- --------- --------- ---------
COLUMN TOTALS 59547172 10219366 10219366 10176986 42380
- ------------------------------------------------------------------------------------------------------------------------------------
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OR INVESTMENT DISCRETION MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(A) (B) (C) (A) (B) (C)
- ------------------------------------------------------------------------------------------------------------------------------------
CITADEL TECHNOLOGY INC COMMON 172889107 165000 60000 60000 60000
COMSTOCK RES INC COMMON 205768203 177375 43000 43000 43000
CORPORATE OFFICE PPTYS T COMMON 22002T108 143688 19000 19000 19000
CORPORATE RENAISSANCE GR MUTUAL 220033104 1208475 117900 117900 117900
CREATIVE BIOMOLECULES IN COMMON 225270107 112500 30000 30000 30000
CUBIST PHARMACEUTICALS I COMMON 229678107 188375 22000 22000 22000
DEPARTMENT 56 INC COMMON 249509100 2798294 116900 116900 109500 7400
DIEBOLD INC COMMON 253651103 2627000 113600 113600 106900 6700
DUSA PHARMACEUTICALS INC COMMON 266898105 182000 13000 13000 13000
ESC MED SYS LTD BND CV 269025AB8 416500 700000 700000 700000
EASTGROUP PPTY INC COMMON 277276101 259188 14300 14300 14300
EDUCATION MGMT CORP COMMON 28139T101 2388375 193000 193000 181000 12000
EDWARDS AG INC COMMON 281760108 2054613 77900 77900 73600 4300
ENTERTAINMENT PPTYS TR COMMON 29380T105 155025 10600 10600 10600
ENZON INC COMMON 293904108 610000 20000 20000 20000
EQUITY RESIDENTIAL PPTYS COMMON 29476L107 1095436 25851 25851 25851
FASHIONMALL COM COMMON 31186K106 80625 15000 15000 15000
FEDERAL HOME LN MTG CORP COMMON 313400301 3107000 59750 59750 56000 3750
FEDERAL NATL MTG ASSN COMMON 313586109 3767519 60100 60100 57300 2800
--------- --------- --------- --------- --------- --------- --------- ---------
COLUMN TOTALS 21536986 1711901 1711901 1674951 36950
- ------------------------------------------------------------------------------------------------------------------------------------
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OR INVESTMENT DISCRETION MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(A) (B) (C) (A) (B) (C)
- ------------------------------------------------------------------------------------------------------------------------------------
FINLAY ENTERPRISES INC COMMON 317884203 158125 11500 11500 11500
FIRST HEALTH GROUP CORP COMMON 320960107 3601219 160500 160500 150400 10100
FREQUENCY ELECTRS INC COMMON 358010106 92500 10000 10000 10000
GTE CORP COMMON 362320103 413588 5380 5380 5380
GAYLORD CONTAINER CORP COMMON 368145108 21904480 3074313 3074313 3074313
GENERAL ELEC CO COMMON 369604103 3213044 27100 27100 25450 1650
GLENBOROUGH RLTY TR INC COMMON 37803P105 358050 21700 21700 21700
GLOBAL INDS LTD COMMON 379336100 113750 14000 14000 14000
GRAINGER W W INC COMMON 384802104 403725 8400 8400 8400
GREAT LAKES REIT INC COMMON 390752103 153638 10200 10200 10200
GREY WOLF INC COMMON 397888108 153000 51000 51000 51000
GULF CDA RES LTD COMMON 40218L305 146563 35000 35000 35000
HARLEY DAVIDSON INC COMMON 412822108 2142675 42800 42800 42800
HARTFORD FINL SVCS GROUP COMMON 416515104 245250 6000 6000 6000
HOMESEEKERS COM INC COMMON 437605108 187500 15000 15000 15000
IGEN INC COMMON 449536101 458850 18400 18400 18400
INET TECHNOLOGIES INC COMMON 45662V105 219484 5500 5500 5500
INNERDYNE INC COMMON 45764D102 81250 25000 25000 25000
INTEL CORP COMMON 458140100 3804800 51200 51200 48150 3050
--------- --------- --------- --------- --------- --------- --------- ---------
COLUMN TOTALS 37851490 3592993 3592993 3578193 14800
- ------------------------------------------------------------------------------------------------------------------------------------
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OR INVESTMENT DISCRETION MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(A) (B) (C) (A) (B) (C)
- ------------------------------------------------------------------------------------------------------------------------------------
INTERPUBLIC GROUP COS IN COMMON 460690100 1603875 39000 39000 39000
INVESTMENT TECHNOLOGY GR COMMON 46145F105 2663400 115800 115800 108400 7400
KAYDON CORP COMMON 486587108 2508644 100850 100850 94550 6300
KEY ENERGY SVCS INC COMMON 492914106 148125 30000 30000 30000
KOGER EQUITY INC COMMON 500228101 691200 43200 43200 43200
MCI WORLDCOM INC COMMON 55268B106 994031 13830 13830 13830
MACK CALI RLTY CORP COMMON 554489104 262763 9800 9800 9800
MADDEN STEVEN LTD COMMON 556269108 135844 10500 10500 10500
MARINE DRILLING COS INC COMMON 568240204 158125 10000 10000 10000
MELLON FINL CORP COMMON 58551A108 3631097 107988 107988 105084 2904
MERCK & CO INC COMMON 589331107 3217811 49648 49648 46308 3340
NANOGEN INC COMMON 630075109 108750 15000 15000 15000
NUCENTRIX BROADBAND NETW COMMON 670198100 17584039 725115 725115 725115
OEC COMPRESSION CORP COMMON 670827104 51181 43100 43100 43100
PNC BK CORP COMMON 693475105 2555344 48500 48500 45800 2700
PACIFIC GULF PPTYS INC COMMON 694396102 261181 13100 13100 13100
PALL CORP COMMON 696429307 1486319 64100 64100 60200 3900
PARADIGM GEOPHYSICAL LTD COMMON 69900J104 205850 35800 35800 35800
PERVASIVE SOFTWARE INC COMMON 715710109 241500 7000 7000 7000
--------- --------- --------- --------- --------- --------- --------- ---------
COLUMN TOTALS 38509078 1482331 1482331 1455787 26544
FORM 13F 9/30/99
REPORTING MANAGER; M. D. SASS PAGE 5
- ------------------------------------------------------------------------------------------------------------------------------------
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OR INVESTMENT DISCRETION MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(A) (B) (C) (A) (B) (C)
- ------------------------------------------------------------------------------------------------------------------------------------
PFIZER INC COMMON 717081103 2735469 76250 76250 72050 4200
PHILIP SVCS CORP COMMON 71819M103 1700 10000 10000 10000
PHYSICIANS RESOURCE GROU COMMON 71941S101 312500 625000 625000 625000
PHYSICIANS RESOURCE GROU BND CV 71941SAA9 77246650 118841000 118841000 118841000
PIER 1 IMPORTS INC COMMON 720279108 310078 47250 47250 47250
PROJECT SOFTWARE & DEV I COMMON 74339P101 267500 5000 5000 5000
RANGER INDS INC COMMON 752907105 56463 86072 86072 86072
RAYTHEON CO COMMON 755111408 277900 5600 5600 5600
REMINGTON OIL & GAS CORP COMMON 759594302 142188 25000 25000 25000
REYNOLDS & REYNOLDS CO COMMON 761695105 2920756 143350 143350 133950 9400
ROWECOM INC COMMON 77957X108 222000 8000 8000 8000
SL GREEN RLTY CORP COMMON 78440X101 256250 12500 12500 12500
SRS LABS INC COMMON 78464M106 45313 12500 12500 12500
SCHLUMBERGER LTD COMMON 806857108 707247 11350 11350 11350
SIGMA ALDRICH CORP COMMON 826552101 3675063 115750 115750 108750 7000
SKYTEL COMMUNICATIONS IN COMMON 83087Q104 377238 20600 20600 20600
SMARTALK TELESERVICES IN BND CV 83169AAA8 5956890 14529000 14529000 14529000
SMARTALK TELESERVICES IN BND CV 83169AAC4 7831820 19102000 19102000 19102000
SONOCO PRODS CO COMMON 835495102 2737500 120000 120000 112892 7108
--------- --------- --------- --------- --------- --------- --------- ---------
COLUMN TOTALS 106080523 153796222 153796222 153768514 27708
FORM 13F 9/30/99
REPORTING MANAGER; M. D. SASS PAGE 6
- ------------------------------------------------------------------------------------------------------------------------------------
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OR INVESTMENT DISCRETION MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(A) (B) (C) (A) (B) (C)
- ------------------------------------------------------------------------------------------------------------------------------------
SPECTRASITE HLDGS INC COMMON 84760T100 2471769 208149 208149 208149
SPLITROCK SVCS INC COMMON 848636304 180000 12000 12000 12000
STRATOSPHERE CORP COMMON 863106308 1871738 67450 67450 67450
THQ INC COMMON 872443403 215625 5000 5000 5000
TANDY CORP COMMON 875382103 1033750 20000 20000 20000
TENET HEALTHCARE CORP COMMON 88033G100 2840295 161725 161725 161725
TEVA PHARMACEUTICAL INDS COMMON 881624209 347156 6900 6900 6900
TEXACO INC COMMON 881694103 303000 4800 4800 4800
TIME WARNER INC COMMON 887315109 729000 12000 12000 12000
TOPPS INC COMMON 890786106 90000 12000 12000 12000
TRANS WORLD AIRLS INC COMMON 893349837 186419 52328 52328 52328
TRANSKARYOTIC THERAPIES COMMON 893735100 205500 4000 4000 4000
TRANSWITCH CORP COMMON 894065101 213750 3750 3750 3750
TROY GROUP INC COMMON 89733N106 75625 10000 10000 10000
TUPPERWARE CORP COMMON 899896104 1464075 72300 72300 67800 4500
TYCO INTL LTD NEW COMMON 902124106 991200 9600 9600 9600
UNIVERSAL FOODS CORP COMMON 913538104 3362638 146600 146600 137100 9500
VANS INC COMMON 921930103 120000 10000 10000 10000
VIEWCAST COM INC COMMON 926713108 110500 17000 17000 17000
--------- --------- --------- --------- --------- --------- --------- ---------
COLUMN TOTALS 16812039 835602 835602 821602 14000
FORM 13F 9/30/99
REPORTING MANAGER; M. D. SASS PAGE 7
- ------------------------------------------------------------------------------------------------------------------------------------
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OR INVESTMENT DISCRETION MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(A) (B) (C) (A) (B) (C)
- ------------------------------------------------------------------------------------------------------------------------------------
VINTAGE PETE INC COMMON 927460105 162000 12000 12000 12000
WELLSFORD REAL PPTYS INC COMMON 950240101 455772 47976 47976 47976
WOLVERINE TUBE INC COMMON 978093102 2038250 131500 131500 123700 7800
AMDOCS LTD COMMON G02602103 252000 12000 12000 12000
ALADDIN KNOWLEDGE SYS LT COMMON M0392N101 241300 30400 30400 30400
CIMATRON LTD COMMON M23798107 83950 36800 36800 36800
ELBIT VISION SYS LTD COMMON M37576101 78413 49200 49200 49200
FORSOFT LTD COMMON M46544108 162500 25000 25000 25000
GALILEO TECHNOLOGY LTD COMMON M47298100 422500 16900 16900 16900
HEALTHCARE TECHNOLOGIES COMMON M5296L135 90444 99800 99800 99800
NEXUS TELECOMMUNICATN SY COMMON M74919107 114375 61000 61000 61000
TOP IMAGE SYSTEMS LTD COMMON M87896102 78800 19700 19700 19700
SAPIENS INTL CORP N V COMMON N7716A102 511750 46000 46000 46000
PHYSICIANS RESOURCE GROU BND CV VV4011548 227500 350000 350000 350000
--------- --------- --------- --------- --------- --------- --------- ---------
COLUMN TOTALS 4919553 938276 938276 930476 7800
--------- --------- --------- --------- --------- --------- --------- ---------
REPORT TOTALS 285256842 172576691 172576691 172406509 170182
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</TABLE>
