UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: June 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: KRAMER SPELLMAN, L.P.
Address: 2050 CENTER AVENUE, SUITE 300
FORT LEE, NEW JERSEY 07024
13 File Number: 28-xxxx
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
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: ORIN S. KRAMER
Title: GENERAL PARTNER
Phone: 201-592-1234
Signature, Place and Date of Signing:
ORIN S. KRAMER August 10, 1999
Report Type (Check only one.):
[ X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE
ACT OF 1934
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FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 56
Form 13F Information Table Value Total: 64007
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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 DISCRETN MANAGERS SOLE SHARED NONE
------------------------------ ---------------- --------- -------- -------- --- ---- -------- --------- -------- -------- --------
D ADVANTA CORP USD.01 CL-B NONVT COMMON STOCK 007942204 535 39500 SH SOLE 39500 0 0
D ALGOS PHARMACEUTICAL CORP COM COMMON STOCK 015869100 220 10000 SH SOLE 10000 0 0
D AMBASE CORP COM COMMON STOCK 023164106 1586 1391900 SH SOLE 1391900 0 0
D ANTHRACITE CAPITAL INC COMMON STOCK 037023108 1286 196100 SH SOLE 196100 0 0
D BANK OF AMERICA CORP COM STK COMMON STOCK 060505104 381 5200 SH SOLE 5200 0 0
D BANK ONE CORP COM COMMON STOCK 06423A103 503 8450 SH SOLE 8450 0 0
D BANK PLUS CORP COM COMMON STOCK 064446107 1048 195000 SH SOLE 195000 0 0
D BANKBOSTON CORP COM COMMON STOCK 06605R106 705 13800 SH SOLE 13800 0 0
D BNC MORTGAGE INC COM COMMON STOCK 05561Y105 485 77700 SH SOLE 77700 0 0
D BORDEN CHEMICALS & PLASTICS COMMON STOCK 099541203 1364 191500 SH SOLE 191500 0 0
D BROADWAY FINANCIAL CORPORATION COMMON STOCK 111444105 63 12000 SH SOLE 12000 0 0
D CENTRIS GROUP INC COM COMMON STOCK 155904105 2444 241400 SH SOLE 241400 0 0
D CHASTAIN CAPITAL CORP COMMON STOCK 161697107 132 20000 SH SOLE 20000 0 0
D COMDISCO INC COM COMMON STOCK 200336105 2475 96600 SH SOLE 96600 0 0
D COUNTRYWIDE CR INDS INC COM COMMON STOCK 222372104 1876 43900 SH SOLE 43900 0 0
D DVI INC COM COMMON STOCK 233343102 702 41000 SH SOLE 41000 0 0
D DYNEX CAPITAL INC COM COMMON STOCK 26817Q100 1578 765500 SH SOLE 765500 0 0
D ESG RE LTD COM STK COMMON STOCK G31215109 412 27500 SH SOLE 27500 0 0
D FIRST FINL FD INC COM REITS/RICS 320228109 673 77000 SH SOLE 77000 0 0
D FIRST INVS FINL SVCS GROUP IN COMMON STOCK 32058A101 181 30200 SH SOLE 30200 0 0
D FIRSTCITY FINL CORP COM COMMON STOCK 33761X107 426 77500 SH SOLE 77500 0 0
D FPIC INS GROUP INC COM COMMON STOCK 302563101 363 7500 SH SOLE 7500 0 0
D FRANCHISE MTG ACCEPTANCE CO CO COMMON STOCK 35181D108 854 97700 SH SOLE 97700 0 0
D FRIEDMAN BILLINGS RAMSEY-A COMMON STOCK 358433100 552 46500 SH SOLE 46500 0 0
D FRONTIER INS GRP INC COM NEW COMMON STOCK 359081106 189 12300 SH SOLE 12300 0 0
D GREENPOINT FINL CORP COM COMMON STOCK 395384100 1048 31942 SH SOLE 31942 0 0
D HARTFORD FIANANCIAL SERVICES G OPTIONS - PUTS 4165150SL 583 10000 SH PUT SOLE 10000 0 0
D HAWTHORNE FINL CORP COM COMMON STOCK 420542102 173 10700 SH SOLE 10700 0 0
D IMPAC COMMERCIAL HLDGS COM REI COMMON STOCK 45254R108 193 30700 SH SOLE 30700 0 0
D IMPERIAL CREDIT INDS INC COMMON STOCK 452729106 3423 482550 SH SOLE 482550 0 0
D ITLA CAPITAL CORP COM COMMON STOCK 450565106 1306 82950 SH SOLE 82950 0 0
D JEFFBANKS INC COM COMMON STOCK 472317106 497 17500 SH SOLE 17500 0 0
D KENNEDY WILSON INC COM NEW COMMON STOCK 489399204 268 30000 SH SOLE 30000 0 0
D LEASING SOLUTIONS INC COM COMMON STOCK 522113109 83 110700 SH SOLE 110700 0 0
D LNR PROPERTY CORP COM COMMON STOCK 501940100 3571 167100 SH SOLE 167100 0 0
D LOCAL FINANCIAL CORP COMMON COMMON STOCK 539553107 144 14600 SH SOLE 14600 0 0
D MERITOR SVGS BK PA COM COMMON STOCK 590007100 125 83800 SH SOLE 83800 0 0
D MICROFINANCIAL INC COMMON STOCK 595072109 200 14000 SH SOLE 14000 0 0
D NEOTHERAPEUTICS INC COM COMMON STOCK 640656104 691 54200 SH SOLE 54200 0 0
D NEWHALL LD & FARMING CO CALIF COMMON STOCK 651426108 430 17500 SH SOLE 17500 0 0
D OCWEN ASSET INVT CRP COM COMMON STOCK 67574M106 1750 389100 SH SOLE 389100 0 0
D OCWEN FINL CORP COM COMMON STOCK 675746101 2240 252500 SH SOLE 252500 0 0
D ON STAGE ENTERTAINMENT INC COMMON STOCK 68219Q106 12 20500 SH SOLE 20500 0 0
D ORION CAP CORP COM COMMON STOCK 686268103 7917 220700 SH SOLE 220700 0 0
D PEOPLES HERITAGE SVGS BK PORTL COMMON STOCK 711147108 376 20000 SH SOLE 20000 0 0
D PIONEER GROUP INC COM COMMON STOCK 723684106 431 25000 SH SOLE 25000 0 0
D PROFESSIONAL BANCORP COM COMMON STOCK 743112104 1162 56000 SH SOLE 56000 0 0
D PROVIDIAN FINL CORP COM COMMON STOCK 74406A102 839 9000 SH SOLE 9000 0 0
D RESOURCE AMER INC CL A COM NEW COMMON STOCK 761195205 5228 360600 SH SOLE 360600 0 0
D RESOURCE ASSET INVT TRUST COMMON STOCK 761196104 1929 152800 SH SOLE 152800 0 0
D REVLON INC CL A COM COMMON STOCK 761525500 2583 85400 SH SOLE 85400 0 0
D TD WATERHOUSE SECURITIES COMMON STOCK 872362108 250 10000 SH SOLE 10000 0 0
D UCBH HOLDINGS INC COM COMMON STOCK 90262T308 678 37833 SH SOLE 37833 0 0
D UGLY DUCKLING CORP COM COMMON STOCK 903512101 2496 344330 SH SOLE 344330 0 0
D VIRGINIA CAP BANCSHARES INC COMMON STOCK 927758102 152 10000 SH SOLE 10000 0 0
D WILSHIRE REAL ESTATE INVST TR REITS/RICS 971892104 2196 566800 SH SOLE 566800 0 0
S REPORT SUMMARY 56 DATA RECORDS 64007 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
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