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, 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: 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 May 4, 2000
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: 44
Form 13F Information Table Value Total: 38528
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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 ACE LTD COM COMMON STOCK G0070K103 1137 49700 SH SOLE 49700 0 0
D ADVANTA CORP USD.01 CL-B NONVT COMMON STOCK 007942204 857 59200 SH SOLE 59200 0 0
D AETNA INC COM COMMON STOCK 008117103 611 11000 SH SOLE 11000 0 0
D AMBASE CORP COM COMMON STOCK 023164106 860 1061900 SH SOLE 1061900 0 0
D AMERICAN CAPITAL STRATEGIES COMMON STOCK 024937104 1383 54500 SH SOLE 54500 0 0
D ANTHRACITE CAPITAL INC COMMON STOCK 037023108 354 49700 SH SOLE 49700 0 0
D BYL BANCORP COM STK COMMON STOCK 056064108 208 20000 SH SOLE 20000 0 0
D CENDANT CORP COM COMMON STOCK 151313103 1203 65000 SH SOLE 65000 0 0
D CENDANT CORP COM OPTIONS - CALLS 151313EED 336 18000 SH CALL SOLE 18000 0 0
D CENDANT CORP COM OPTIONS - CALLS 151313EEW 748 40000 SH CALL SOLE 40000 0 0
D COAST FED LITIGATION CONTIGENT RIGHTS 19034Q110 71 51300 SH SOLE 51300 0 0
D COASTAL BANCORP INC COM COMMON STOCK 19041P105 783 47800 SH SOLE 47800 0 0
D COUNTRYWIDE CR INDS INC COM OPTIONS - CALLS 2223720GE 341 12500 SH CALL SOLE 12500 0 0
D DYNEX CAPITAL INC 9.55% SER B PFRD STK CONV SU 26817Q308 229 24400 SH SOLE 24400 0 0
D DYNEX CAPITAL INC COM COMMON STOCK 26817Q506 654 116350 SH SOLE 116350 0 0
D DYNEX CAPTL PRA COM STK COMMON STOCK 26817Q209 94 10000 SH SOLE 10000 0 0
D EAST WEST BANCORP INC COMMON STOCK 27579R104 163 14700 SH SOLE 14700 0 0
D ESG RE LTD COM STK COMMON STOCK G31215109 131 32700 SH SOLE 32700 0 0
D FIRST INVS FINL SVCS GROUP IN COMMON STOCK 32058A101 156 29700 SH SOLE 29700 0 0
D GOLD BANC CORP INC COM COMMON STOCK 379907108 236 35584 SH SOLE 35584 0 0
D IMPERIAL CREDIT INDS INC COMMON STOCK 452729106 2721 604650 SH SOLE 604650 0 0
D ITLA CAPITAL CORP COM COMMON STOCK 450565106 210 16450 SH SOLE 16450 0 0
D LNR PROPERTY CORP COM COMMON STOCK 501940100 1901 99700 SH SOLE 99700 0 0
D MICROFINANCIAL INC COMMON STOCK 595072109 145 14000 SH SOLE 14000 0 0
D NAVISTAR INTL CORP NEW COMMON STOCK 63934E108 4049 100900 SH SOLE 100900 0 0
D NAVISTAR INTL CORP NEW OPTIONS - CALLS 63934E0DI 241 6000 SH CALL SOLE 6000 0 0
D NAVISTAR INTL CORP NEW OPTIONS - CALLS 63934E0GG 341 8500 SH CALL SOLE 8500 0 0
D NEOTHERAPEUTICS INC COM COMMON STOCK 640656104 224 13300 SH SOLE 13300 0 0
D OCWEN FINL CORP COM COMMON STOCK 675746101 2696 337008 SH SOLE 337008 0 0
D PACIFIC CREST CAP INC COM COMMON STOCK 694166109 838 78900 SH SOLE 78900 0 0
D PROFESSIONAL BANCORP COM COMMON STOCK 743112104 118 24300 SH SOLE 24300 0 0
D PROVIDIAN FINL CORP COM COMMON STOCK 74406A102 468 5400 SH SOLE 5400 0 0
D RESOURCE AMER INC CL A COM NEW COMMON STOCK 761195205 3669 506100 SH SOLE 506100 0 0
D RESOURCE ASSET INVT TRUST COMMON STOCK 761196104 748 69600 SH SOLE 69600 0 0
D RYDER SYSTEM INC COMMON STOCK 783549108 2133 94000 SH SOLE 94000 0 0
D RYDER SYSTEM INC OPTIONS - CALLS 7835490ED 363 16000 SH CALL SOLE 16000 0 0
D SBC COMMUNICATIONS INC COM COMMON STOCK 78387G103 2001 47500 SH SOLE 47500 0 0
D SBC COMMUNICATIONS INC COM OPTIONS - CALLS 78387GJDG 758 18000 SH CALL SOLE 18000 0 0
D SBC COMMUNICATIONS INC COM OPTIONS - CALLS 78387GJDH 1656 39300 SH CALL SOLE 39300 0 0
D STARWOOD FINANCIAL INC COM STK COMMON STOCK 85569R104 176 10000 SH SOLE 10000 0 0
D UCBH HOLDINGS INC COM COMMON STOCK 90262T308 237 11033 SH SOLE 11033 0 0
D UGLY DUCKLING CORP COM COMMON STOCK 903512101 1820 236730 SH SOLE 236730 0 0
D WILSHIRE REAL ESTATE INVSTMENT REITS/RICS 971892104 1191 515100 SH SOLE 515100 0 0
D WMS INDS INC COM COMMON STOCK 929297109 128 13000 SH SOLE 13000 0 0
S REPORT SUMMARY 44 DATA RECORDS 39387 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
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