<PAGE> 1
UNITED STATES
SECURITES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: 3/31/99
-------
Check here if Amendment [ ]; Amendment Number: ______
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holding
entries.
Institutional Investment Manager Filing this Report:
Name: Oak Value Capital Management, Inc.
Address: 3100 Tower Blvd., Suite 700
Durham, NC 27707
Form 13F File Number: 28-4628
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: Margaret C. Landis
Title: Vice President & Director of Operations
Phone: (919) 419-1900
Signature, Place, and Date of Signing:
/s/ Margaret C. Landis Durham, NC May 14, 1999
- ------------------------ ------------- ------------
(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.)
<PAGE> 2
[ ] 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:
NONE
<PAGE> 3
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
--------------
Form 13F Information Table Entry Total: 43
--------------
Form 13F Information Table Value Total: $ 1,914,693
--------------
(thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
NONE
<PAGE> 4
FORM 13F INFORMATION TABLE
<TABLE>
<CAPTION>
VALUE SHARES OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
CLASS
- ------------------------------ ----------- ------------ -------- -------- --- ---- ------- ------------ -------- -------- --------
<S> <C> <C> <C> <C> <C> <C> <C>
Berkshire Hathaway - Cl. A 084670108 248472 3480 SH SOLE 3480
AFLAC COM 001055102 91571 1682122 SH SOLE 1552472 129650
Abbott Labs COM 002824100 539 11520 SH SOLE 11520
Ambac Financial Group, Inc. COM 023139108 72970 1351292 SH SOLE 1246292 105000
American Int'l Grp COM 026874107 1054 8734 SH SOLE 8734
Anheuser Busch Cos Inc COM 035229103 228 2992 SH SOLE 2992
Avon Products COM 054303102 69435 1475369 SH SOLE 1330849 144520
Belo (A.H.) Corp COM 080555105 65762 3603394 SH SOLE 3280694 322700
Berkshire Hathaway - Cl. A COM 084670108 47410 664 SH SOLE 602 62
Berkshire Hathaway - Cl. B COM 084670207 132225 56242 SH SOLE 52236 4006
CCB Financial COM 124875105 388 7174 SH SOLE 7174
Campbell Soup COM 134429109 25962 638075 SH SOLE 591175 46900
Chubb Corp. COM 171232101 55176 942179 SH SOLE 858604 83575
Closure Medical Corporation COM 189093107 2269 59700 SH SOLE 59700
Coca Cola Co. COM 191216100 52481 855095 SH SOLE 790691 64404
Colgate-Palmolive COM 194162103 2433 26447 SH SOLE 25947 500
Dun & Bradstreet COM 26483B106 83961 2356810 SH SOLE 2150600 206210
E. W. Scripps Co. COM 811054204 112300 2537846 SH SOLE 2361226 176620
Executive Risk, Inc. COM 301586103 23005 324021 SH SOLE 292096 31925
Food Lion Inc. Cl. A COM 344775200 377 41000 SH SOLE 41000
</TABLE>
<PAGE> 5
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C>
Freddie Mac COM 313400301 3095 54000 SH SOLE 54000
Gillette Co. COM 375766102 64612 1087057 SH SOLE 997117 89940
Hearst-Argyle Television COM 422317107 2920 118590 SH SOLE 94665 23925
Intel Corp COM 458140100 323 2718 SH SOLE 2718
Interpublic Group COM 460690100 74198 952783 SH SOLE 872030 80753
Johnson & Johnson COM 478160104 2361 25256 SH SOLE 25256
Markel Corp. COM 570535104 21159 117387 SH SOLE 117387
MedPartners Inc. COM 58503X107 819 172332 SH SOLE 172332
Merck & Co. COM 589331107 705 8800 SH SOLE 8800
Microsoft Corp COM 594918104 604 6740 SH SOLE 6740
Oakwood Homes COM 674098108 89997 6428385 SH SOLE 6028385 400000
PepsiCo Inc. COM 713448108 303 7736 SH SOLE 7736
Pfizer Inc. COM 717081103 810 5840 SH SOLE 5840
Procter & Gamble COM 742718109 487 4968 SH SOLE 4968
Progressive Corp. COM 743315103 93453 651238 SH SOLE 597648 53590
RLI Corp. COM 749607107 45252 1547093 SH SOLE 1398682 148411
Sara Lee Corp. COM 803111103 201 8114 SH SOLE 8114
Schering Plough COM 806605101 939 16992 SH SOLE 16992
Tiffany & Co. COM 886547108 128635 1720874 SH SOLE 1584209 136665
United Asset Management Corp. COM 909420101 115873 5121445 SH SOLE 4758595 362850
Walt Disney Co. COM 254687106 72857 2340783 SH SOLE 2129976 210807
Washington Post Co. Class B COM 939640108 91461 175380 SH SOLE 160751 14629
Young Broadcasting Corp. A COM 987434107 15612 342175 SH SOLE 336475 5700
</TABLE>
