<PAGE>
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 this Report:
Name: Deltec Asset Management Corporation
Address: 645 Fifth Avenue
New York, New York 10022
Form 13F File Number: 28-4706
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: Stephen Zupello
Title: Managing Director and Chief Operating Officer
Phone: (212) 546-6285
Signature, Place, and Date of Signing:
/s/ Stephen Zupello New York, New York May 17, 1999
___________________ __________________ ______________
[Signature] [City, State] [Date]
<PAGE>
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT. (Check here if all holdings of
this reporting manager are reported in this report.)
[ ] 13F NOTICE. (Check her 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:
[If there are no entries in this list, omit this section.]
Form 13F File Number Name
28-
[Repeat as necessary.]
2
<PAGE>
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 246
Form 13F Information Table Value Total: $242,530
[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.
[If there are no entries in this list, state "NONE" and omit the
column headings and list entries.]
No. Form 13F File Number Name
28-
[Repeat as necessary.]
3
<PAGE>
<TABLE>
Form 13F INFORMATION TABLE
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
--------- -------- -------- -------- -------- --------- -------- --------
TITLE CUSIP MARKET VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER OF CLASS NUMBER (X1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- - -------------- -------- ------ ------ ------- --- ---- ---------- -------- ----- ----- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
American Telephone &
Telegraph Co Common Stock 001957109 $3,320 41,600 SH n/a sole 41,600
AT&T Liberty Media - A Common Stock 001957208 3 58 SH n/a sole 58
Adrian Resources Ltd Common Stock 00733P108 5 27,500 SH n/a sole 27,500
Aeroflex Inc Common Stock 007768104 2,497 175,200 SH n/a sole 175,200
Aegon N.V. - American
Regd Shr Common Stock 007924103 225 2,500 SH n/a sole 2,500
Aetna Life & Casualty
Co Common Stock 008117103 311 3,744 SH n/a sole 3,744
Affiliated Computer
Services - A Common Stock 008190100 9 200 SH n/a sole 200
Agnico Eagle Mines
Ltd COM Common Stock 008474108 41 7,800 SH n/a sole 7,800
Agribiotech Inc Common Stock 008494106 94 15,000 SH n/a sole 15,000
Alcatel Alsthom - Spns
ADR Common Stock 013904305 7 300 SH n/a sole 300
Allstate Corp Common Stock 020002101 92 2,490 SH n/a sole 2,490
America Online Inc Common Stock 02364J104 577 3,950 SH n/a sole 3,950
American Express
Company Common Stock 025816109 118 1,000 SH n/a sole 1,000
American Home Products Common Stock 026609107 104 1,600 SH n/a sole 1,600
American International
Group Inc Common Stock 026874107 3,800 31,500 SH n/a sole 31,500
Ames Dept. Stores,
Inc. Common Stock 030789507 371 10,000 SH n/a sole 10,000
Anadarko Petroleum
Corp Common Stock 032511107 1,036 27,455 SH n/a sole 27,455
Andrx Corp Common Stock 034551101 2,387 26,200 SH n/a sole 26,200
Anheuser-Busch Cos Inc Common Stock 035229103 457 6,000 SH n/a sole 6,000
Ariel Corp Common Stock 04033M104 490 230,534 SH n/a sole 230,534
Asia Pulp & Paper Ltd
Sponsored Adr Common Stock 04516V100 17 2,000 SH n/a sole 2,000
At Home Corp Ser A Common Stock 045919107 882 5,600 SH n/a sole 5,600
Atlas Air Inc Common Stock 049164106 3,265 113,310 SH n/a sole 113,310
Autotote Corp - CL A Common Stock 053323101 1,162 641,170 SH n/a sole 641,170
Avon Products Inc Common Stock 054303102 9 200 SH n/a sole 200
BP Amoco PLC Spons ADR Common Stock 055622104 531 5,256 SH n/a sole 5,256
Baltimore Gas & Electric
Co. Common Stock 059165100 6 246 SH n/a sole 246
Bank of Tokyo -
Mitsubishi ADR Common Stock 065379109 7 500 SH n/a sole 500
Bankamerica Corp Common Stock 06605F102 4,924 69,723 SH n/a sole 69,723
Barrick Gold Corp Common Stock 067901108 70 4,122 SH n/a sole 4,122
BE Aerospace Inc Common Stock 073302101 601 40,750 SH n/a sole 40,750
4
<PAGE>
Bellsouth Corp Common Stock 079860102 17 420 SH n/a sole 420
A.H. Belo Corp - Ser A Common Stock 080555105 456 25,000 SH n/a sole 25,000
Berkshire Hathaway
Inc - Cl A Common Stock 084670108 143 2 SH n/a sole 2
Berkshire Hathaway
Inc - Cl B Common Stock 084670207 2 1 SH n/a sole 1
Berry Petroleum - CL A Common Stock 085789105 1 132 SH n/a sole 132
Bestfoods Common Stock 08658U101 82 1,740 SH n/a sole 1,740
Boeing Co Common Stock 097023105 102 3,000 SH n/a sole 3,000
Bristol-Myers Squibb
Co. Common Stock 110122108 545 8,480 SH n/a sole 8,480
Broadway Financial
Corp/Del Common Stock 111444105 1,632 233,131 SH n/a sole 233,131
CFS Bancorp Inc Common Stock 12525D102 1,743 166,000 SH n/a sole 166,000
CMGI Inc Common Stock 125750109 384 2,100 SH n/a sole 2,100
CNET, Inc. Common Stock 125945105 55 600 SH n/a sole 600
CV Therapeutics Inc Common Stock 126667104 24 5,000 SH n/a sole 5,000
Cadbury Schweppes PLC -
Sp ADR Common Stock 127209302 174 3,000 SH n/a sole 3,000
Cadence Design System
Inc Common Stock 127387108 6,627 257,340 SH n/a sole 257,340
Campbell Soup Co. Common Stock 134429109 41 1,000 SH n/a sole 1,000
CDN Imperial Bk of
Commerce Common Stock 136069101 51 2,000 SH n/a sole 2,000
Carson Inc - CL A Common Stock 145845103 9 2,000 SH n/a sole 2,000
Celadon Group Inc Common Stock 150838100 1,907 234,711 SH n/a sole 234,711
Chase Manhattan Corp
New Common Stock 16161A108 69 850 SH n/a sole 850
Chevron Corp Common Stock 166751107 15 175 SH n/a sole 175
China Fund Inc Common Stock 169373107 2 250 SH n/a sole 250
Cisco Systems Inc Common Stock 17275R102 1,313 11,985 SH n/a sole 11,985
Citigroup Inc Common Stock 172967101 5,431 85,020 SH n/a sole 85,020
City Investing Co.
Liquidating Trust Common Stock 177900107 320 250,000 SH n/a sole 250,000
Coca-Cola Company Common Stock 191216100 970 15,810 SH n/a sole 15,810
Coca-Cola Femsa S A
DE CV Common Stock 191241108 1,098 67,300 SH n/a sole 67,300
Cognizant Technology
Solutions Corp. Common Stock 192446102 278 10,000 SH n/a sole 10,000
Colgate Palmolive Co. Common Stock 194162103 368 4,000 SH n/a sole 4,000
Command Security Corp Common Stock 20050L100 14 10,000 SH n/a sole 10,000
Companhia Brazileira
de Distribuicao Common Stock 20440T201 525 35,920 SH n/a sole 35,920
CIA Paranaense de
Energia Cop Common Stock 20441B407 2,897 386,200 SH n/a sole 386,200
Compaq Computer Corp Common Stock 204493100 2,843 89,710 SH n/a sole 89,710
Concord Camera Corp Common Stock 206156101 2,269 562,735 SH n/a sole 562,735
Conectiv Inc Common Stock 206829103 4 205 SH n/a sole 205
Page Total $59,829
5
<PAGE>
Corn Products
International Inc Common Stock 219023108 10 435 SH n/a sole 435
Costco Companies Inc Common Stock 22160Q102 1,291 14,100 SH n/a sole 14,100
DVI Inc Common Stock 233343102 15 1,000 SH n/a sole 1,000
Dean Foods Co. Common Stock 242361103 36 1,000 SH n/a sole 1,000
Dell Computer Corp Common Stock 247025109 215 5,250 SH n/a sole 5,250
The Walt Disney Co. Common Stock 254687106 62 2,000 SH n/a sole 2,000
Dreyfus Strategic
Municipals Inc Common Stock 261932107 1 53 SH n/a sole 53
Du Pont E I De Nemours
& Co. Common Stock 263534109 34 588 SH n/a sole 588
EFTC Corporation Common Stock 268443108 4,844 1,047,400 SH n/a sole 1,047,400
EMC Corp / Mass Common Stock 268648102 134 1,050 SH n/a sole 1,050
EPL Technologies Inc Common Stock 268920204 31 7,500 SH n/a sole 7,500
Esco Electronics Corp Common Stock 269030201 0 11 SH n/a sole 11
Eastman Chemical
Company Common Stock 277432100 15 347 SH n/a sole 347
Eastman Kodak Co Common Stock 277461109 64 1,000 SH n/a sole 1,000
J.D. Edwards & Co. Common Stock 281667105 10 850 SH n/a sole 850
Electronics Arts Inc Common Stock 285512109 38 800 SH n/a sole 800
Embratel Participacoes
SA - Spns ADR Common Stock 29081N100 334 20,000 SH n/a sole 20,000
Emerson Electric & Co Common Stock 291011104 24 450 SH n/a sole 450
Encal Energy Ltd Common Stock 29250D107 3 763 SH n/a sole 763
Equitable Companies
Inc Common Stock 29444G107 280 4,000 SH n/a sole 4,000
Exxon Corp Common Stock 302290101 113 1,600 SH n/a sole 1,600
FDX Corporation Common Stock 31304N107 1,856 20,000 SH n/a sole 20,000
First Union Corp Common Stock 337358105 53 1,000 SH n/a sole 1,000
Flanders Corporation Common Stock 338494107 1,831 714,517 SH n/a sole 714,517
Forest Laboratories
Inc Common Stock 345838106 2,900 51,450 SH n/a sole 51,450
Franklin Resources Inc Common Stock 354613101 2,334 83,000 SH n/a sole 83,000
Frequency Electronics
Inc Common Stock 358010106 84 11,250 SH n/a sole 11,250
Furniture Brands
International Inc Common Stock 360921100 1,328 60,000 SH n/a sole 60,000
Genelabs Technologies
Inc Common Stock 368706107 42 20,833 SH n/a sole 20,833
General Electric Co. Common Stock 369604103 111 1,000 SH n/a sole 1,000
General Motors Corp Common Stock 370442105 1,129 13,000 SH n/a sole 13,000
Genzyme Transgenics
Corp Common Stock 37246E105 2 600 SH n/a sole 600
Gillette Co. Common Stock 375766102 1,783 30,000 SH n/a sole 30,000
Global Marine Inc Common Stock 379352404 1 90 SH n/a sole 90
GO2Net, Inc. Common Stock 383486107 139 1,050 SH n/a sole 1,050
Greater China Fund Inc Common Stock 39167B102 3 416 SH n/a sole 416
Grupo Televisa SA -
ADR Common Stock 40049J206 2,447 78,000 SH n/a sole 78,000
Gulf Canada Resources
Ltd Common Stock 40218L305 13 4,950 SH n/a sole 4,950
6
<PAGE>
Hartford Finl Svse Group
Inc. Common Stock 416515104 55 976 SH n/a sole 976
Hellenic Telecommun
Org - ADR Common Stock 423325307 2,221 190,000 SH n/a sole 190,000
Highland Bancorp Inc. Common Stock 429879109 20,147 548,224 SH n/a sole 548,224
Homestake Mining Co. Common Stock 437614100 17 2,000 SH n/a sole 2,000
Horizon Organic Holding
Corp Common Stock 44043T103 3 200 SH n/a sole 200
Irsa Inversiones y
Representaciones
AD Common Stock 450047204 0 0 SH n/a sole 0
ITT Industries Inc
Ind. Common Stock 450911102 17 488 SH n/a sole 488
Idexx Laboratories Inc Common Stock 45168D104 480 20,072 SH n/a sole 20,072
Imatron, Inc. Common Stock 452906100 1 1,000 SH n/a sole 1,000
Intel Corp Common Stock 458140100 231 1,940 SH n/a sole 1,940
Intermedia Communications
Inc Common Stock 458801107 51 1,900 SH n/a sole 1,900
International Comfort
Products ORD Common Stock 458978103 3,191 405,233 SH n/a sole 405,233
International Business
Machines Corp Common Stock 459200101 744 4,200 SH n/a sole 4,200
International Home
Foods Inc. Common Stock 459655106 2,327 144,900 SH n/a sole 144,900
Int'l Telecommunication
Data System In Common Stock 46047F104 755 61,000 SH n/a sole 61,000
Ireland Bank ADR Common Stock 46267Q103 8 100 SH n/a sole 100
JMAR Industries Inc
COM Common Stock 466212107 55 22,000 SH n/a sole 22,000
Jackpot Enterprises
Inc Common Stock 466392107 0 10 SH n/a sole 10
Johnson & Johnson Common Stock 478160104 2,781 29,688 SH n/a sole 29,688
Jones Apparel Group
Inc Common Stock 480074103 573 20,500 SH n/a sole 20,500
Kimberly Clark Corp Common Stock 494368103 10 200 SH n/a sole 200
Koninklijke Philips
Electronics NV ADR Common Stock 500472105 4,987 60,500 SH n/a sole 60,500
Korean Investment Fund
Inc Common Stock 500637103 302 63,500 SH n/a sole 63,500
Kyzen Corp - CL A Common Stock 501596100 3 3,000 SH n/a sole 3,000
LNR Property Corp Common Stock 501940100 20 1,000 SH n/a sole 1,000
Lauder Estee Cos. Inc. Common Stock 518439104 19 200 SH n/a sole 200
Lehman Brothers Holdings
Inc Common Stock 524908100 72 1,200 SH n/a sole 1,200
Level 3 Communications
Inc Common Stock 52729N100 146 2,000 SH n/a sole 2,000
Lilly Eli & Company Common Stock 532457108 1,040 12,250 SH n/a sole 12,250
Lucasvarity PLC - Adr Common Stock 549395101 8 165 SH n/a sole 165
Page total $63,874
7
<PAGE>
Lucent Technologies
Inc Common Stock 549463107 78 726 SH n/a sole 726
MCI Worldcom Inc Common Stock 55268B106 1,690 19,080 SH n/a sole 19,080
MMC Networks Inc. Common Stock 55308N102 240 15,000 SH n/a sole 15,000
Magnatek Inc Common Stock 559424106 244 29,100 SH n/a sole 29,100
Magyar Tavkozlesi RT -
ADR Common Stock 559776109 669 25,000 SH n/a sole 25,000
May Dept. Stores Co.
COM Common Stock 577778103 0 6 SH n/a sole 6
McMoran Exploration
Co. Common Stock 582411104 1 93 SH n/a sole 93
Medtronic Inc Common Stock 585055106 75 1,000 SH n/a sole 1,000
Merck & Co Common Stock 589331107 3,711 46,280 SH n/a sole 46,280
Merrill Lynch & Co Inc Common Stock 590188108 7,694 87,000 SH n/a sole 87,000
Metal Management Inc Common Stock 591097100 169 106,000 SH n/a sole 106,000
Microsoft Corp Common Stock 594918104 1,717 19,160 SH n/a sole 19,160
Micron Technology Inc Common Stock 595112103 68 1,400 SH n/a sole 1,400
Minorco - ADR Common Stock 604340307 68 4,000 SH n/a sole 4,000
Mitchell Energy &
Development-CL A Common Stock 606592202 10 800 SH n/a sole 800
Morgan J.P. & Co Inc Common Stock 616880100 155 1,260 SH n/a sole 1,260
Morgan Stanley Dean
Witter Discovery C Common Stock 617446448 3,774 37,768 SH n/a sole 37,768
Motorola Inc Common Stock 620076109 3 45 SH n/a sole 45
National Semiconductor
Corp Common Stock 637640103 1,849 198,500 SH n/a sole 198,500
Neoprobe Corp Common Stock 640518106 3 2,500 SH n/a sole 2,500
Network Associates
Inc Common Stock 640938106 6 200 SH n/a sole 200
Network Solutions Inc
Cl A Common Stock 64121Q102 106 1,000 SH n/a sole 1,000
Newmont Mining Corp Common Stock 651639106 45 2,580 SH n/a sole 2,580
Nextel Communications
Inc CL A Common Stock 65332V103 11 300 SH n/a sole 300
Nine West Group Inc Common Stock 65440D102 49 2,000 SH n/a sole 2,000
Open Jit Stk Co-Vimpel
Communic SP - ADR Common Stock 68370R109 481 31,000 SH n/a sole 31,000
Orbital Engine Corp -
ADR Common Stock 685563306 2 1,000 SH n/a sole 1,000
PNC BK Corp Common Stock 693475105 177 3,186 SH n/a sole 3,186
Paine Webber Group Inc Common Stock 695629105 2,193 55,000 SH n/a sole 55,000
Petroleum Geo-
Services - AL5 Common Stock 716597109 1,098 72,000 SH n/a sole 72,000
Pfizer Inc Common Stock 717081103 7,699 55,490 SH n/a sole 55,490
Phosphate Resources
Partners Common Stock 719217101 18 1,500 SH n/a sole 1,500
Placer Dome Inc. Common Stock 725906101 52 4,639 SH n/a sole 4,639
Plantronics Inc New Common Stock 727493108 1,251 20,000 SH n/a sole 20,000
Premier Laser Systems
Inc - CL A Common Stock 740522107 9 4,000 SH n/a sole 4,000
8
<PAGE>
Price T. Rowe Price
Associates Common Stock 741477103 344 10,000 SH n/a sole 10,000
Pride International
Inc Common Stock 741932107 5 600 SH n/a sole 600
Prison Realty Corp Common Stock 74264N105 8,743 501,387 SH n/a sole 501,387
Procter & Gamble Co Common Stock 742718109 539 5,500 SH n/a sole 5,500
Provident American
Corp Common Stock 743832107 5,328 430,550 SH n/a sole 430,550
Qwest Communications
Intl Inc. Common Stock 749121109 779 10,800 SH n/a sole 10,800
R&B Falcon Corp Common Stock 74912E101 9 1,000 SH n/a sole 1,000
RPM Inc - Ohio Common Stock 749685103 13 1,000 SH n/a sole 1,000
Ranger Oil Ltd Common Stock 752805101 6 1,000 SH n/a sole 1,000
Read - Rite Corp Common Stock 755246105 13 2,000 SH n/a sole 2,000
Restoration Hardware
Inc Del Common Stock 760981100 22 1,000 SH n/a sole 1,000
Revenue Properties
Ltd. Common Stock 761389402 4 2,100 SH n/a sole 2,100
Robert Half Int'l.,
Inc. Common Stock 770323103 164 5,000 SH n/a sole 5,000
SBC Communications Inc Common Stock 78387G103 528 11,200 SH n/a sole 11,200
SCI Systems Inc Common Stock 783890106 1,425 48,100 SH n/a sole 48,100
Saks Inc Common Stock 79377W108 1,638 63,000 SH n/a sole 63,000
Schlumberger Ltd Common Stock 806857108 417 7,000 SH n/a sole 7,000
Sea Containers Ltd
Cl B Common Stock 811371103 503 17,600 SH n/a sole 17,600
Sea Containers Ltd -
Cl A Common Stock 811371707 872 30,200 SH n/a sole 30,200
Sears Roebuck & Co. Common Stock 812387108 61 1,344 SH n/a sole 1,344
Sepracor Inc Common Stock 817315104 56 500 SH n/a sole 500
Servicemaster Company Common Stock 81760N109 122 6,000 SH n/a sole 6,000
Seven Seas Petroleum
Corp Common Stock 817917107 10 3,000 SH n/a sole 3,000
Siebel Systems, Inc. Common Stock 826170102 -238 -5,000 SH n/a sole -5,000
Smart Modular
Technologies Inc Common Stock 831690102 801 53,600 SH n/a sole 53,600
Smithkline Beecham
Plc - ADR Common Stock 832378301 4,855 67,900 SH n/a sole 67,900
Sony Corp Common Stock 835699307 27 300 SH n/a sole 300
Starwood Hotels & Resorts
Worldwide In Common Stock 85590A203 8 267 SH n/a sole 267
State Street Corp Common Stock 857477103 1,892 23,000 SH n/a sole 23,000
Staten Island Bancorp
Inc Common Stock 857550107 200 11,617 SH n/a sole 11,617
Stolt Comex Seaway
S.A. ADR CLASS A Common Stock 861567105 6 660 SH n/a sole 660
Suburban Lodges of
America Common Stock 864444104 224 32,500 SH n/a sole 32,500
Suiza Foods Corp Common Stock 865077101 505 15,000 SH n/a sole 15,000
Swift Energy Co Common Stock 870738101 6 700 SH n/a sole 700
TCBY Enterprises Inc Common Stock 872245105 6 1,000 SH n/a sole 1,000
Tekelec Common Stock 879101103 2,058 281,500 SH n/a sole 281,500
9
<PAGE>
Page total $67,604
10
<PAGE>
ele Norte Leste
Participacoes - SA
ADR Common Stock 879246106 154 10,000 SH n/a sole 10,000
Telecomunicaoes
Brasileiras S Common Stock 879287308 20,066 248,875 SH n/a sole 248,875
Telefonica de Argentina
SA - Spns ADR Common Stock 879378206 303 10,000 SH n/a sole 10,000
Telefonos De Mexico
SA ADR L Common Stock 879403780 1,630 24,700 SH n/a sole 24,700
Teleglobe, Inc. Common Stock 87941V100 303 10,000 SH n/a sole 10,000
Telesp Participacoes
SA - ADR Common Stock 87952K100 4,717 228,700 SH n/a sole 228,700
Templeton Dragon Fund
Inc Common Stock 88018T101 495 64,420 SH n/a sole 64,420
Texaco Inc Common Stock 881694103 297 5,000 SH n/a sole 5,000
Texas Instruments Inc Common Stock 882508104 50 500 SH n/a sole 500
Texas Utilities Co Common Stock 882848104 11 275 SH n/a sole 275
Thoratec Labs Corp Common Stock 885175307 114 15,410 SH n/a sole 15,410
Tier Technologies Inc Common Stock 88650Q100 26 3,000 SH n/a sole 3,000
Tiffany & Co New Common Stock 886547108 75 1,000 SH n/a sole 1,000
Time Warner Inc Common Stock 887315109 71 1,000 SH n/a sole 1,000
Transkaryotic Therapies
Inc Common Stock 893735100 32 1,000 SH n/a sole 1,000
Transwitch Corp Common Stock 894065101 23 500 SH n/a sole 500
Trico Marine Services
Inc Common Stock 896106101 29 5,050 SH n/a sole 5,050
Triquint Semiconductor
Inc Common Stock 89674K103 11 600 SH n/a sole 600
Tubos De Acero De Mexico
SA ADR Common Stock 898592506 21 2,375 SH n/a sole 2,375
Tyco Int'l. Ltd. Common Stock 902124106 718 10,000 SH n/a sole 10,000
Unibanco - Sponsored
GDR Common Stock 90458E107 2,657 138,000 SH n/a sole 138,000
Unilever PLC-American Common Stock 904767605 15 400 SH n/a sole 400
Unilever NV - ADR Common Stock 904784501 266 4,000 SH n/a sole 4,000
Union Carbide Corp Common Stock 905581104 45 1,000 SH n/a sole 1,000
United International
Holdings - A Common Stock 910734102 4,437 102,000 SH n/a sole 102,000
Vencor Inc Common Stock 92260R102 4 3,000 SH n/a sole 3,000
Ventas Inc Common Stock 92276F100 18 3,000 SH n/a sole 3,000
Venture Seismic Ltd. Common Stock 92327K108 3 21,100 SH n/a sole 21,100
Verio Inc Common Stock 923433106 136 2,950 SH n/a sole 2,950
Vina Concha Y Toro
SA - ADR Common Stock 927191106 18 600 SH n/a sole 600
Vivus Inc Common Stock 928551100 4 1,100 SH n/a sole 1,100
Webs Index Fd Inc Common Stock 92923H848 7 1,200 SH n/a sole 1,200
WEBS Index Fd Inc Common Stock 92923H889 9 800 SH n/a sole 800
Wal-Mart Stores Inc Common Stock 931142103 138 1,500 SH n/a sole 1,500
Watson Pharmaceuticals
Inc Common Stock 942683103 1,127 25,550 SH n/a sole 25,550
11
<PAGE>
Wellsford Real
Properties Common Stock 950240101 0 44 SH n/a sole 44
Windmere-Durable
Holdings Common Stock 973411101 4 500 SH n/a sole 500
Wyman Gordon Company Common Stock 983085101 4,858 525,150 SH n/a sole 525,150
YPF S.A. - Sponsored
ADR Common Stock 984245100 4,962 157,200 SH n/a sole 157,200
Yahoo Inc Common Stock 984332106 365 2,170 SH n/a sole 2,170
Zeneca Group Plc ADR Common Stock 98934D106 2,965 63,000 SH n/a sole 63,000
Zenix Income Fund Inc. Common Stock 989414107 39 6,500 SH n/a sole 6,500
Page total $51,223
GRAND TOTAL $242,530
</TABLE>
12
01552002.AA6
