<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 30, 2000
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, May 9, 2000
- -----------------------------------------------------
[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
<PAGE>
FORM 13F 3/31/00
REPORTING MANAGER; M. D. SASS PAGE 1
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
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> <C> <C> <C> <C>
A D C TELECOMMUNICATIONS COMMON 000886101 269375 5000 5000 5000
AMFM INC COMMON 001693100 434875 7000 7000 7000
AT&T CORP COMMON 001957109 1544427 27426 27426 27426
AT&T CORP COMMON 001957208 4134912 69714 69714 69714
ATMI INC COMMON 00207R101 253075 5300 5300 5300
AVX CORP NEW COMMON 002444107 3889181 51300 51300 46900 4400
AFFYMETRIX INC COMMON 00826T108 296875 2000 2000 2000
AGILENT TECHNOLOGIES INC COMMON 00846U101 208000 2000 2000 2000
ALKERMES INC COMMON 01642T108 333000 3600 3600 3600
ALTERNATIVE RESOURCES CO COMMON 02145R102 294844 127500 127500 117200 10300
AMERICAN CLASSIC VOYAGES COMMON 024928103 289656 11500 11500 11500
AMERICAN REAL ESTATE PAR COMMON 029169109 165000 20000 20000 20000
AMGEN INC COMMON 031162100 1423900 23200 23200 23200
AMKOR TECHNOLOGY INC COMMON 031652100 371438 7000 7000 7000
AMPAL AMERN ISRAEL CORP COMMON 032015109 1166550 60600 60600 60600
ANALYTICAL SURVEYS INC COMMON 032683302 168227 24941 24941 24941
ANDREW CORP COMMON 034425108 2445338 106900 106900 106900
APPLE COMPUTER INC COMMON 037833100 271625 2000 2000 2000
APROPOS TECHNOLOGY INC COMMON 038334108 240500 6500 6500 6500
--------- --------- --------- --------- --------- --------- --------- ---------
COLUMN TOTALS 18200797 563481 563481 548781 14700
</TABLE>
<PAGE>
FORM 13F 3/31/00
REPORTING MANAGER; M. D. SASS PAGE 2
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
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> <C> <C> <C> <C>
APTARGROUP INC COMMON 038336103 2431231 91100 91100 82900 8200
ARCH COMMUNICATIONS GROU COMMON 039381504 72467119 9350596 9350596 9350596
ARIBA INC COMMON 04033V104 209625 1000 1000 1000
ART TECHNOLOGY GROUP INC COMMON 04289L107 328438 5000 5000 5000
ASPEN TECHNOLOGY INC COMMON 045327103 4421063 109500 109500 109500
ASTROPOWER INC COMMON 04644A101 355438 11000 11000 11000
ASYST TECHNOLOGY CORP COMMON 04648X107 479700 8200 8200 8200
AVON PRODS INC COMMON 054303102 859950 29400 29400 26600 2800
BID COM INTERNATIONAL IN COMMON 088788104 237500 40000 40000 40000
BINDVIEW DEV CORP COMMON 090327107 372750 12000 12000 12000
BLACK BOX CORP DEL COMMON 091826107 3302480 47700 47700 43700 4000
BLUE SQUARE - ISRAEL LTD COMMON 096055108 263344 26500 26500 26500
BOSTON PROPERTIES INC COMMON 101121101 238594 7500 7500 7500
BROADCOM CORP COMMON 111320107 388600 1600 1600 1600
CT HLDGS INC COMMON 12643Y103 219188 42000 42000 42000
CALYPTE BIOMEDICAL CORP COMMON 131722100 123125 40000 40000 40000
CEPHALON INC COMMON 156708109 225000 6000 6000 6000
CISCO SYS INC COMMON 17275R102 231938 3000 3000 3000
COPPER MTN NETWORKS INC COMMON 217510106 327750 4000 4000 4000
--------- --------- --------- --------- --------- --------- --------- ---------
COLUMN TOTALS 87482830 9836096 9836096 9821096 15000
</TABLE>
<PAGE>
FORM 13F 3/31/00
REPORTING MANAGER; M. D. SASS PAGE 3
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
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> <C> <C> <C> <C>
CORSAIR COMMUNICATIONS I COMMON 220406102 306000 16000 16000 16000
CORPORATE RENAISSANCE LT COMMON 220990105 982107 117900 117900 117900
CRESCENT REAL ESTATE EQU COMMON 225756105 281750 16100 16100 16100
CUBIST PHARMACEUTICALS I COMMON 229678107 1402813 33500 33500 33500
CYTYC CORP COMMON 232946103 820250 17000 17000 17000
DAIN RAUSCHER CORP COMMON 233856103 296719 4500 4500 4500
DEPARTMENT 56 INC COMMON 249509100 1185000 80000 80000 72400 7600
DOUBLE EAGLE PETE & MNG COMMON 258570209 59063 17500 17500 17500
DUSA PHARMACEUTICALS INC COMMON 266898105 275281 11500 11500 11500
ESC MED SYS LTD BND CV 269025AB8 371849 463000 463000 463000
EASTGROUP PPTY INC COMMON 277276101 576200 26800 26800 26800
EDUCATION MGMT CORP COMMON 28139T101 2321550 160800 160800 145000 15800
EDWARDS AG INC COMMON 281760108 2224000 55600 55600 51200 4400
ELECTRO SCIENTIFIC INDS COMMON 285229100 440800 7600 7600 7600
EMISPHERE TECHNOLOGIES I COMMON 291345106 404625 7800 7800 7800
ENTERTAINMENT PPTYS TR COMMON 29380T105 375844 28500 28500 28500
ENTRUST TECHNOLOGIES INC COMMON 293848107 255234 3000 3000 3000
ENZON INC COMMON 293904108 753750 20000 20000 20000
EQUITY RESIDENTIAL PPTYS COMMON 29476L107 726469 18077 18077 18077
--------- --------- --------- --------- --------- --------- --------- ---------
COLUMN TOTALS 14059304 1105177 1105177 1077377 27800
</TABLE>
<PAGE>
FORM 13F 3/31/00
REPORTING MANAGER; M. D. SASS PAGE 4
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
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> <C> <C> <C> <C>
EXTREME NETWORKS INC COMMON 30226D106 237000 3000 3000 3000
MULTISTRGY MDS 01/03/00 COMMON 312990104 108500 100000 100000 100000
FEDERAL HOME LN MTG CORP COMMON 313400301 1794013 40600 40600 36900 3700
FEDERAL NATL MTG ASSN COMMON 313586109 2655609 46950 46950 44200 2750
FINLAY ENTERPRISES INC COMMON 317884203 531900 43200 43200 43200
FIRST HEALTH GROUP CORP COMMON 320960107 3447125 109000 109000 99300 9700
FOCUS ENHANCEMENTS INC COMMON 344159108 1386563 443700 443700 443700
GTE CORP COMMON 362320103 381980 5380 5380 5380
GAYLORD CONTAINER CORP COMMON 368145108 28185233 4421213 4421213 4421213
GENERAL ELEC CO COMMON 369604103 2108719 13550 13550 12350 1200
GENSTAR THERAPEUTICS COR COMMON 37248D105 207000 23000 23000 23000
GOLDMAN SACHS GROUP INC COMMON 38141G104 210500 2000 2000 2000
GREAT LAKES REIT INC COMMON 390752103 189063 12500 12500 12500
GREY WOLF INC COMMON 397888108 244125 62000 62000 62000
HARLEY DAVIDSON INC COMMON 412822108 3397250 42800 42800 42800
HARTFORD FINL SVCS GROUP COMMON 416515104 316500 6000 6000 6000
HOMESEEKERS COM INC COMMON 437605108 269063 17500 17500 17500
IMMUNEX CORP NEW COMMON 452528102 342563 5400 5400 5400
IMMUNOMEDICS INC COMMON 452907108 671125 26000 26000 26000
--------- --------- --------- --------- --------- --------- --------- ---------
COLUMN TOTALS 46683829 5423793 5423793 5406443 17350
</TABLE>
<PAGE>
FORM 13F 3/31/00
REPORTING MANAGER; M. D. SASS PAGE 5
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
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> <C> <C> <C> <C>
INFORMATION RESOURCE ENG COMMON 45675F303 344375 9500 9500 9500
INKTOMI CORP COMMON 457277101 292500 1500 1500 1500
INNERDYNE INC COMMON 45764D102 238875 39000 39000 39000
INTEL CORP COMMON 458140100 3469956 26300 26300 24050 2250
INTERNET CAP GROUP INC COMMON 46059C106 270938 3000 3000 3000
INTERPUBLIC GROUP COS IN COMMON 460690100 1842750 39000 39000 39000
INTERSTATE NATL DEALER S COMMON 46102P104 235750 41000 41000 41000
INVESTMENT TECHNOLOGY GR COMMON 46145F105 2538000 72000 72000 71600 400
ISIS PHARMACEUTICALS INC COMMON 464330109 225000 16000 16000 16000
JDS UNIPHASE CORP COMMON 46612J101 241125 2000 2000 2000
JONES PHARMA INC COMMON 480236108 264263 8700 8700 8700
JUNIPER NETWORKS INC COMMON 48203R104 316275 1200 1200 1200
KAYDON CORP COMMON 486587108 1910509 69950 69950 63650 6300
KEY ENERGY SVCS INC COMMON 492914106 416250 36000 36000 36000
KNIGHT/TRIMARK GROUP INC COMMON 499068104 306000 6000 6000 6000
KULICKE & SOFFA INDS INC COMMON 501242101 313906 4900 4900 4900
LTX CORP COMMON 502392103 420244 9300 9300 9300
LA JOLLA PHARMACEUTICAL COMMON 503459109 603750 92000 92000 92000
LYNX THERAPEUTICS INC COMMON 551812308 252875 8500 8500 8500
--------- --------- --------- --------- --------- --------- --------- ---------
COLUMN TOTALS 14503341 485850 485850 476900 8950
</TABLE>
<PAGE>
FORM 13F 3/31/00
REPORTING MANAGER; M. D. SASS PAGE 6
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
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> <C> <C> <C> <C>
MCI WORLDCOM INC COMMON 55268B106 1239841 27362 27362 27362
MACK CALI RLTY CORP COMMON 554489104 237150 9300 9300 9300
MARINE DRILLING COS INC COMMON 568240204 397844 14500 14500 14500
MARKETCENTRAL NET CORP COMMON 57059T106 213125 55000 55000 55000
MEDIMMUNE INC COMMON 584699102 348250 2000 2000 2000
MELLON FINL CORP COMMON 58551A108 2843981 95596 95596 92692 2904
MERCK & CO INC COMMON 589331107 2274769 36616 36616 33326 3290
METRETEK TECHNOLOGIES IN COMMON 59159Q107 368125 31000 31000 31000
MIDCOM COMMUNICATIONS IN BND CV 59563XAA0 480000 6400000 6400000 6400000
MIDCOM COMMUNICATIONS IN BND CV 59563XAC6 480000 6400000 6400000 6400000
NBTY INC COMMON 628782104 232688 17000 17000 17000
NABORS INDS INC COMMON 629568106 543375 14000 14000 14000
NETMANAGE INC COMMON 641144100 321841 56900 56900 56900
NETOPIA INC COMMON 64114K104 323719 4500 4500 4500
NETSOLVE INC COMMON 64115J106 206400 6400 6400 6400
NETWORK SOLUTIONS INC DE COMMON 64121Q102 307406 2000 2000 2000
RE/ENT INTL RABBI 010107 COMMON 661990101 55576 58207 58207 58207
NUCENTRIX BROADBAND NETW COMMON 670198100 29355893 995115 995115 995115
OSI PHARMACEUTICALS INC COMMON 671040103 302250 15500 15500 15500
--------- --------- --------- --------- --------- --------- --------- ---------
COLUMN TOTALS 40532231 14240996 14240996 14234802 6194
</TABLE>
<PAGE>
FORM 13F 3/31/00
REPORTING MANAGER; M. D. SASS PAGE 7
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
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> <C> <C> <C> <C>
OMNI ENERGY SERVICES COMMON 68210T109 100000 50000 50000 50000
ONYX SOFTWARE CORP COMMON 683402101 522750 16400 16400 16400
ORCKIT COMMUNICATIONS LT BND CV 685725AA1 910000 1000000 1000000 1000000
PMC-SIERRA INC COMMON 69344F106 407375 2000 2000 2000
PNC FINL SVCS GROUP INC COMMON 693475105 1536631 34100 34100 31400 2700
PACIFIC GULF PPTYS INC COMMON 694396102 274750 14000 14000 14000
PALL CORP COMMON 696429307 1081488 48200 48200 44300 3900
PANJA INC COMMON 698493103 1725000 75000 75000 75000
PARADIGM GEOPHYSICAL LTD COMMON 69900J104 419250 52000 52000 52000
PARKWAY PPTYS INC COMMON 70159Q104 297319 10100 10100 10100
RE/ENT INT RABBI 010107 COMMON 707991105 82372 82372 82372 82372
PENNACO ENERGY INC COMMON 708046107 301125 22000 22000 22000
PFIZER INC COMMON 717081103 1923188 52600 52600 48400 4200
PHARMOS CORP COMMON 717139208 354019 71700 71700 71700
PHILIP SVCS CORP COMMON 71819M103 1100 10000 10000 10000
PHILIPS INTL RLTY CORP COMMON 718333107 285950 17200 17200 17200
PHYSICIANS RESOURCE GROU COMMON 71941S101 93750 625000 625000 625000
PHYSICIANS RESOURCE GROU BND CV 71941SAA9 83188700 118841000 118841000 118841000
PIER 1 IMPORTS INC COMMON 720279108 484313 47250 47250 47250
--------- --------- --------- --------- --------- --------- --------- ---------
COLUMN TOTALS 93989078 121070922 121070922 121060122 10800
</TABLE>
<PAGE>
FORM 13F 3/31/00
REPORTING MANAGER; M. D. SASS PAGE 8
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
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> <C> <C> <C> <C>
PRIME GROUP REALTY TRUST COMMON 74158J103 178906 12500 12500 12500
PRIDE INTL INC COMMON 741932107 285938 12500 12500 12500
PROJECT SOFTWARE & DEV I COMMON 74339P101 565000 10000 10000 10000
PROXIM INC COMMON 744284100 394969 3300 3300 3300
QUALCOMM INC COMMON 747525103 373281 2500 2500 2500
R & B FALCON CORP COMMON 74912E101 246094 12500 12500 12500
RANGER INDS INC COMMON 752907105 101708 65072 65072 65072
RECKSON ASSOCS RLTY CORP COMMON 75621K106 253125 13500 13500 13500
REDBACK NETWORKS INC COMMON 757209101 629869 2100 2100 2100
REGISTER COM INC COMMON 75914G101 312750 4500 4500 4500
REYNOLDS & REYNOLDS CO COMMON 761695105 2648700 98100 98100 88900 9200
SDL INC COMMON 784076101 298025 1400 1400 1400
SCHLUMBERGER LTD COMMON 806857108 868275 11350 11350 11350
SERENA SOFTWARE INC COMMON 817492101 516375 16200 16200 16200
SIGMA ALDRICH CORP COMMON 826552101 2150000 80000 80000 73200 6800
SKYMALL INC COMMON 830859104 357000 51000 51000 51000
SMARTALK TELESERVICES IN BND CV 83169AAA8 29350880 56444000 56444000 56444000
SMARTALK TELESERVICES IN BND CV 83169AAC4 28948400 55670000 55670000 55670000
SMARTDISK CORP COMMON 83169Q105 212000 8000 8000 8000
--------- --------- --------- --------- --------- --------- --------- ---------
COLUMN TOTALS 68691294 112518522 112518522 112502522 16000
</TABLE>
<PAGE>
FORM 13F 3/31/00
REPORTING MANAGER; M. D. SASS PAGE 9
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
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> <C> <C> <C> <C>
SONOCO PRODS CO COMMON 835495102 2000333 86971 86971 79463 7508
SONY CORP COMMON 835699307 280125 1000 1000 1000
STRATOSPHERE CORP COMMON 863106308 2293300 67450 67450 67450
TANDY CORP COMMON 875382103 1015000 20000 20000 20000
TELEHUBLINK CORP COMMON 87942L101 288750 42000 42000 42000
TELETECH HOLDINGS INC COMMON 879939106 310500 9000 9000 9000
TENET HEALTHCARE CORP COMMON 88033G100 3847355 160725 160725 160725
TENGASCO INC COMMON 88033R205 234563 27000 27000 27000
TEVA PHARMACEUTICAL INDS COMMON 881624209 466406 12500 12500 12500
TEXACO INC COMMON 881694103 258000 4800 4800 4800
TEXAS INSTRS INC COMMON 882508104 320000 2000 2000 2000
TIME WARNER INC COMMON 887315109 1200000 12000 12000 12000
TRANS WORLD AIRLS INC COMMON 893349837 121009 52328 52328 52328
TRANSACTION SYS ARCHITEC COMMON 893416107 288750 10000 10000 10000
TRANSWITCH CORP COMMON 894065101 629619 6550 6550 6550
TUPPERWARE CORP COMMON 899896104 782719 49500 49500 45000 4500
UTI ENERGY CORP COMMON 903387108 415250 11000 11000 11000
UNIVERSAL FOODS CORP COMMON 913538104 2421788 113300 113300 102800 10500
VAIL RESORTS INC COMMON 91879Q109 165000 10000 10000 10000
--------- --------- --------- --------- --------- --------- --------- ---------
COLUMN TOTALS 17338465 698124 698124 675616 22508
</TABLE>
<PAGE>
FORM 13F 3/31/00
REPORTING MANAGER; M. D. SASS PAGE 10
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
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> <C> <C> <C> <C>
VERITAS SOFTWARE CO COMMON 923436109 294750 2250 2250 2250
VINTAGE PETE INC COMMON 927460105 291813 14500 14500 14500
VIROPHARMA INC COMMON 928241108 380138 6200 6200 6200
VOYAGER NET INC COMMON 92906W101 246375 18000 18000 18000
WARNER CHILCOTT PLC COMMON 934435207 322500 20000 20000 20000
WEBSENSE INC COMMON 947684106 216281 4500 4500 4500
WELLSFORD REAL PPTYS INC COMMON 950240101 389773 44866 44866 44866
WILLIAMS COMMUNICATIONS COMMON 969455104 259375 5000 5000 5000
WITNESS SYS INC COMMON 977424100 258188 8500 8500 8500
WOLVERINE TUBE INC COMMON 978093102 1175547 91750 91750 82950 8800
ZIXIT CORP COMMON 98974P100 327656 4500 4500 4500
ZORAN CORP COMMON 98975F101 523706 9300 9300 9300
TRITON ENERGY LTD COMMON G90751101 385688 11000 11000 11000
XOMA LTD COMMON G9825R107 473525 61100 61100 61100
ALADDIN KNOWLEDGE SYS LT COMMON M0392N101 499200 20800 20800 20800
BREEZECOM LTD COMMON M20385106 4865403 130178 130178 130178
CIMATRON LTD COMMON M23798107 291066 71100 71100 71100
ELBIT VISION SYS LTD COMMON M37576101 404884 156100 156100 156100
ELBIT SYS LTD COMMON M3760D101 203288 13900 13900 13900
--------- --------- --------- --------- --------- --------- --------- ---------
COLUMN TOTALS 11809154 693544 693544 684744 8800
</TABLE>
<PAGE>
FORM 13F 3/31/00
REPORTING MANAGER; M. D. SASS PAGE 11
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
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> <C> <C> <C> <C>
FUNDTECH LTD COMMON M47095100 286000 11000 11000 11000
GILAT SATELLITE NETWORKS COMMON M51474100 984900 8400 8400 8400
HEALTHCARE TECHNOLOGIES COMMON M5296L135 222250 101600 101600 101600
NEXUS TELOCATION SYS LTD COMMON M74919107 187409 38200 38200 38200
NUR MACROPRINTERS LTD COMMON M75165106 414475 28100 28100 28100
ORBOTECH LTD COMMON M75253100 544000 6400 6400 6400
ORCKIT COMMUNICATIONS LT COMMON M7531S107 569500 8500 8500 8500
POINT OF SALE LTD COMMON M7945W108 445200 21200 21200 21200
RIT TECHNOLOGIES LTD COMMON M8215N109 547175 50900 50900 50900
TECNOMATIX TECHNOLOGIES COMMON M8743P105 273263 6300 6300 6300
TOP IMAGE SYSTEMS LTD COMMON M87896102 151794 16300 16300 16300
TOWER SEMICONDUCTOR LTD COMMON M87915100 0 14500 14500 14500
TTI TEAM TELECOM INTL LT COMMON M88258104 825000 25000 25000 25000
SAPIENS INTL CORP N V COMMON N7716A102 709275 57900 57900 57900
PHYSICIANS RESOURCE GROU BND CV VV4011548 245000 350000 350000 350000
--------- --------- --------- --------- --------- --------- --------- ---------
COLUMN TOTALS 6405240 744300 744300 744300
--------- --------- --------- --------- --------- --------- --------- ---------
REPORT TOTALS 419695562 267380805 267380805 267232703 148102
========= ========= ========= ========= ========= ========= ========= =========
</TABLE>
