<COVER>
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 31, 1999
Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing Report:
Name: Kalmar Investments, Inc
Address: 3701 Kennett Pike
Greenville, DE. 19807
13F File Number:
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: Jeannine Laughman
Title: Investment Team Assistant
Phone: 302-658-7575
Signature, Place, and Date of Signing:
Jeannine Laughman Wilmington, DE DATE
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.
<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>
ATMI com 00207R101 5639 281950 SH SOLE 281950
Aaron Rents com 002535201 16836 1077500 SH SOLE 1077500
Acorn Products com 004857108 999 190230 SH SOLE 190230
Action Performance com 004933107 7292 242050 SH SOLE 242050
Acxiom com 005125109 13190 497753 SH SOLE 497753
Airnet Systems com 009417106 421 60200 SH SOLE 60200
AmeriCredit com 03060R101 18605 1417500 SH SOLE 1417500
American Management Systems com 027352103 7433 217810 SH SOLE 217810
American Precision Inds com 029069101 2824 293450 SH SOLE 293450
Ametek com 031100100 5639 309000 SH SOLE 309000
Analogic Corp. com 032657207 15688 476290 SH SOLE 476290
Applied Power com 038225108 15679 575360 SH SOLE 575360
BP Amoco PLC com 055622104 321 3176 SH SOLE 3176
Basin Exploration com 070107107 871 62800 SH SOLE 62800
Benchmark Electronics com 08160H101 9903 330100 SH SOLE 330100
Brady Corp com 104674106 4875 232820 SH SOLE 232820
Brigham Exploration com 109178103 199 72300 SH SOLE 72300
C & D Technology com 124661109 1704 68500 SH SOLE 68500
Cadmus Communications com 127587103 5819 404820 SH SOLE 404820
Caere Corp com 127646107 8967 854000 SH SOLE 854000
Caraustar Industries com 140909102 2713 117940 SH SOLE 117940
Casey's General Stores com 147528103 14947 1013380 SH SOLE 1013380
Chirex Inc. com 170038103 10047 410070 SH SOLE 410070
Choicepoint com 170388102 11419 228955 SH SOLE 228955
Computer Horizons com 205908106 4693 429050 SH SOLE 429050
Consolidated Products com 209798107 21501 1228645 SH SOLE 1228645
Cort Business Services com 220493100 11646 503600 SH SOLE 503600
Credence Systems com 225302108 5747 268100 SH SOLE 268100
Cuno Inc. com 126583103 9921 708640 SH SOLE 708640
DeVRY Inc. com 251893103 7894 272200 SH SOLE 272200
Dentsply International com 249030107 11931 513170 SH SOLE 513170
Department 56 com 249509100 8456 277800 SH SOLE 277800
Donnelly, R.R. com 257867101 322 10000 SH SOLE 10000
Doral Financial com 25811P100 15384 837200 SH SOLE 837200
DuPont com 263534109 890 15320 SH SOLE 15320
EMS Technologies com 26873n108 7008 496150 SH SOLE 496150
Evergreen Resources com 299900308 9485 474250 SH SOLE 474250
Excel Technology com 30067T103 5556 535500 SH SOLE 535500
Exxon com 302290101 491 6952 SH SOLE 6952
Fair Isaac & Co com 303250104 3817 103000 SH SOLE 103000
Family Dollar Stores com 307000109 22890 995198 SH SOLE 995198
Federated Investors com 314211103 7387 406150 SH SOLE 406150
Finishmaster com 31787P108 461 75200 SH SOLE 75200
Flow Intl com 343468104 2264 229300 SH SOLE 229300
Furon com 361106107 13239 1048600 SH SOLE 1048600
General Electric com 369604103 3195 28880 SH SOLE 28880
Gulfmark Offshore com 402629109 1095 91700 SH SOLE 91700
Ha-Lo Industries com 404429102 5136 417150 SH SOLE 417150
Hadco Corp com 404681108 6914 219500 SH SOLE 219500
Healthplan Services com 421959107 3021 427700 SH SOLE 427700
IBM com 459200101 1595 9000 SH SOLE 9000
Insight Enterprises com 45765U103 4719 190681 SH SOLE 190681
Insituform Tech com 457667103 29828 1704475 SH SOLE 1704475
Intelligroup com 45816A106 1217 189100 SH SOLE 189100
Inter-Tel Inc com 458372109 3098 199050 SH SOLE 199050
Interface com 458665106 3142 326390 SH SOLE 326390
J Ray McDermott com P64658100 2472 82745 SH SOLE 82745
Keystone Automotive com 49338N109 12364 760840 SH SOLE 760840
Landmark Inc. com 51506S100 3830 422600 SH SOLE 422600
Lesco Inc. com 526872106 8135 546875 SH SOLE 546875
Market Facts com 570559104 4143 188300 SH SOLE 188300
Medtronic com 585055106 230 3200 SH SOLE 3200
Merant PLC com 587336108 1843 188979 SH SOLE 188979
Merck com 589331107 5417 67608 SH SOLE 67608
Microsoft Corp. com 594918104 215 2400 SH SOLE 2400
Motorcar Parts & Accessories com 620071100 2589 231400 SH SOLE 231400
National Computer Sys com 635519101 8368 341550 SH SOLE 341550
Natural MicroSystems com 638882100 1670 338300 SH SOLE 338300
Norstan Inc. com 656535101 2309 249570 SH SOLE 249570
Optek Technology com 683815104 4768 324650 SH SOLE 324650
P M R Corporation com 693451106 1386 299735 SH SOLE 299735
Pacific Sunwear com 694873100 7110 204600 SH SOLE 204600
Paxar com 704227107 1437 193150 SH SOLE 193150
Penn Engineering & Mfg. com 707389300 7178 377770 SH SOLE 377770
Penn Treaty American com 707874103 1478 59575 SH SOLE 59575
Performance Food Group com 713755106 11384 433673 SH SOLE 433673
Renal Care Group com 759930100 5245 267273 SH SOLE 267273
Rent-A-Center com 76009N100 18857 655900 SH SOLE 655900
Richardson Elec Ltd com 763165107 3561 686364 SH SOLE 686364
Rogers Corp. com 775133101 10487 423698 SH SOLE 423698
SPSS Inc com 78462K102 5863 358050 SH SOLE 358050
Shaw Group com 820280105 3098 222300 SH SOLE 222300
Shoe Pavilion com 824894109 1266 250000 SH SOLE 250000
Sola International com 834092108 5142 426245 SH SOLE 426245
Spartech Corp. com 847220209 14178 687400 SH SOLE 687400
Sportsman's Guide com 848907200 2063 300000 SH SOLE 300000
Stage Stores com 85254C107 2919 402570 SH SOLE 402570
Steris Corp com 859152100 5032 189000 SH SOLE 189000
Stimsonite com 860832104 565 70100 SH SOLE 70100
Stone Energy com 861642106 9955 311100 SH SOLE 311100
Systems & Computer Tech com 871873105 11264 1126410 SH SOLE 1126410
Tollgrade Communications com 889542106 2967 178450 SH SOLE 178450
Transcoastal Marine com 893537100 58 14400 SH SOLE 14400
US Foodservice com 90331R101 13590 292250 SH SOLE 292250
Unifab International com 90467L100 2273 279750 SH SOLE 279750
Veeco Instruments com 922417100 10208 276350 SH SOLE 276350
Veterinary Centers of America com 925514101 9048 640600 SH SOLE 640600
Watsco com 942622200 9539 652249 SH SOLE 652249
Weatherford International com 947074100 5310 203250 SH SOLE 203250
Worthington Foods com 981809106 3858 339200 SH SOLE 339200
</TABLE>