UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: December 31, 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 February 8, 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: 50
Form 13F Information Table Value Total: 47210
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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 777 46600 SH SOLE 46600 0 0
D ADVANTA CORP USD.01 CL-B NONVT COMMON STOCK 007942204 832 59200 SH SOLE 59200 0 0
D ALLMERICA FINL CORP COM COMMON STOCK 019754100 545 9800 SH SOLE 9800 0 0
D AMBASE CORP COM COMMON STOCK 023164106 1050 1116900 SH SOLE 1116900 0 0
D ANTHRACITE CAPITAL INC COMMON STOCK 037023108 415 65200 SH SOLE 65200 0 0
D BANK PLUS CORP COM COMMON STOCK 064446107 57 19900 SH SOLE 19900 0 0
D BERKLEY W R CORP COM COMMON STOCK 084423102 421 20200 SH SOLE 20200 0 0
D BNC MORTGAGE INC COM COMMON STOCK 05561Y105 215 33200 SH SOLE 33200 0 0
D BORDEN CHEMICALS & PLASTICS COMMON STOCK 099541203 102 21200 SH SOLE 21200 0 0
D BROADWAY FINANCIAL CORPORATION COMMON STOCK 111444105 48 10000 SH SOLE 10000 0 0
D CHARTER ONE FINL INC COM COMMON STOCK 160903100 348 18200 SH SOLE 18200 0 0
D COAST FED LITIGATION CONTIGENT RIGHTS 19034Q110 181 121300 SH SOLE 121300 0 0
D COASTAL BANCORP INC COM COMMON STOCK 19041P105 582 33300 SH SOLE 33300 0 0
D COMDISCO INC COM COMMON STOCK 200336105 648 17400 SH SOLE 17400 0 0
D COMPUCREDIT CORP COMMON STOCK 20478N100 296 7700 SH SOLE 7700 0 0
D COUNTRYWIDE CR INDS INC COM COMMON STOCK 222372104 1259 49900 SH SOLE 49900 0 0
D DYNEX CAPITAL INC 9.73% SER C PFRD STOCK 26817Q407 100 6300 SH SOLE 6300 0 0
D DYNEX CAPITAL INC 9.55% SER B PFRD STK CONV SU 26817Q308 323 24400 SH SOLE 24400 0 0
D DYNEX CAPITAL INC COM COMMON STOCK 26817Q506 3039 472150 SH SOLE 472150 0 0
D DYNEX CAPTL PRA COM STK PFRD STOCK 26817Q209 136 10000 SH SOLE 10000 0 0
D EAST WEST BANCORP INC COMMON STOCK 27579R104 282 24700 SH SOLE 24700 0 0
D ESG RE LTD COM STK COMMON STOCK G31215109 268 38700 SH SOLE 38700 0 0
D FINOVA GROUP INC COM COMMON STOCK 317928109 1349 38000 SH SOLE 38000 0 0
D FIRST CASH FINANCIAL SVCS INC COMMON STOCK 31942D107 182 22100 SH SOLE 22100 0 0
D FIRST FINL FD INC COM REITS/RICS 320228109 144 18800 SH SOLE 18800 0 0
D FIRST INVS FINL SVCS GROUP IN COMMON STOCK 32058A101 155 29700 SH SOLE 29700 0 0
D FRONTIER INS GRP INC COM NEW COMMON STOCK 359081106 446 130000 SH SOLE 130000 0 0
D HIGHLAND BANCORP INC COM STK N COMMON STOCK 429879109 311 16400 SH SOLE 16400 0 0
D IMPERIAL CREDIT INDS INC COMMON STOCK 452729106 3816 610650 SH SOLE 610650 0 0
D ITLA CAPITAL CORP COM COMMON STOCK 450565106 206 16450 SH SOLE 16450 0 0
D LNR PROPERTY CORP COM COMMON STOCK 501940100 2039 102600 SH SOLE 102600 0 0
D METRIS COMPANIES INC COM COMMON STOCK 591598107 481 13500 SH SOLE 13500 0 0
D MICROFINANCIAL INC COMMON STOCK 595072109 839 71800 SH SOLE 71800 0 0
D NAVISTAR INTL CORP NEW COMMON STOCK 63934E108 5640 120000 SH SOLE 120000 0 0
D NAVISTAR INTL CORP NEW OPTIONS - CALLS 63934E0AH 2716 57800 SH CALL SOLE 57800 0 0
D NEOTHERAPEUTICS INC COM COMMON STOCK 640656104 1305 98500 SH SOLE 98500 0 0
D NEWHALL LD & FARMING CO CALIF COMMON STOCK 651426108 885 32800 SH SOLE 32800 0 0
D OCWEN FINL CORP COM COMMON STOCK 675746101 2912 466008 SH SOLE 466008 0 0
D PACIFIC CREST CAP INC COM COMMON STOCK 694166109 145 11400 SH SOLE 11400 0 0
D PRE PAID LEGAL SVCS INC COM COMMON STOCK 740065107 360 15000 SH SOLE 15000 0 0
D PRISM FINANCIAL CORPORATION COMMON STOCK 74264Q108 196 35000 SH SOLE 35000 0 0
D PROFESSIONAL BANCORP COM COMMON STOCK 743112104 176 24300 SH SOLE 24300 0 0
D RESOURCE AMER INC CL A COM NEW COMMON STOCK 761195205 2849 361800 SH SOLE 361800 0 0
D RESOURCE ASSET INVT TRUST COMMON STOCK 761196104 849 78600 SH SOLE 78600 0 0
D RESOURCE BANCSHARES MTG GROUP COMMON STOCK 761197102 285 63000 SH SOLE 63000 0 0
D RYDER SYSTEM INC COMMON STOCK 783549108 3225 132000 SH SOLE 132000 0 0
D RYDER SYSTEM INC OPTIONS - CALLS 7835490AD 244 10000 SH CALL SOLE 10000 0 0
D TRENWICK GROUP INC COM COMMON STOCK 895290104 704 41600 SH SOLE 41600 0 0
D UCBH HOLDINGS INC COM COMMON STOCK 90262T308 226 11033 SH SOLE 11033 0 0
D UGLY DUCKLING CORP COM COMMON STOCK 903512101 1692 246230 SH SOLE 246230 0 0
D WILSHIRE REAL ESTATE INVSTMENT REITS/RICS 971892104 1009 475100 SH SOLE 475100 0 0
S REPORT SUMMARY 51 DATA RECORDS 47310 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
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