UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
INFORMATION REQUIRED OF INSTITUTIONAL INVESTMENT MANAGERS PURSUANT TO
SECTION 13(f)OF THE SECURITIES EXCHANGE ACT OF 1934 AND RULES THEREUNDER
Report for the Quarter Ended March 31, 2001
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If amended report check here: [ ]
Loews Corporation
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Name of Institutional Investment Manager
667 Madison Avenue New York New York 10021
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Business Address (Street) (City) (State) (Zip)
Barry Hirsch, Senior Vice President (212) 521-2920
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Name, Phone No., and Title of Person Duly Authorized to Submit This Report.
The institutional investment manager submitting this Form and its
attachments and the person by whom it is signed represent hereby that all
information contained therein is true, correct and complete. It is understood
that all required items, statements and schedules are considered integral
parts of this Form and that the submission of any amendment represents that
all unamended items, statements and schedules remain true, correct and
complete as previously submitted.
Pursuant to the requirements of Securities Exchange Act of 1934, the
undersigned Institutional investment manager has caused this report to be
signed on its behalf in the City of New York and State of
--------------------------
New York on the 11th day of May, 2001.
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Loews Corporation
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(Name of Institutional Investment Manager)
By: /s/ Barry Hirsch
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(Manual Signature of Person Duly Authorized
to Submit This Report)
Name and 13F file number of ALL Institutional Investment Managers with respect
to which this schedule is filled (other than the one filing this report):
(List in alphabetical order).
13F File Numbers will be assigned to Institutional Investment Managers after
they file their first report.
Name: 13F File No.: Name: 13F File
No.:
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1. None 6.
- -------------------------- ------------- ------------------------ -----------
2. 7.
- -------------------------- ------------- ------------------------ -----------
3. 8.
- -------------------------- ------------- ------------------------ -----------
4. 9.
- -------------------------- ------------- ------------------------ -----------
5. 10.
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Page 1 of 12 Pages
Loews Corporation
FORM 13F
Report for the Quarter Ended
March 31, 2001
Loews Corporation ("Loews"), by virtue of its approximately 87% ownership of
voting securities of CNA Financial Corporation whose business address is CNA
Plaza, Chicago, Illinois 60685 ("CNA"), may be deemed to have investment
discretion regarding certain securities (the "CNA Securities") as to which
investment discretion is deemed to be exercised by CNA. Pursuant to General
Instruction B of Form 13F, CNA is reporting on behalf of Loews regarding the
CNA Securities.
Mr. Laurence A. Tisch and Mr. Preston R. Tisch own in the aggregate
approximately 27% of the outstanding Common Stock of Loews. Mr. Laurence A.
Tisch and Mr. Preston R. Tisch are the Co-Chairman of the Board of Loews.
Laurence A. Tisch and Preston R. Tisch are brothers and may be deemed to be
control persons of Loews.
Page 2 of 12 Pages
Item 1: Item 2: Item 3: Item 4: Item 5: Item 6: Item 7: Item 8:
Investment Discretion
-----------------------
Title Fair Market Shares or (b) Shared- Managers Voting Authority (Shares)
of CUSIP Value (In Principal As Defined (c)Shared- See -------------------------
Name of Issuer Class Number Thousands) Amount (a)Sole In Instr. v Other Instr. v (a)Sole (b)Shared (c)None
AES Corp. Common 00130H105 $ 225 4,500 X 4,500
Agnico Eagle Common 008474108 6,046 980,000 X 980,000
Mines Ltd.
Allamerica Finl Common 019754100 285 5,500 X 5,500
Corp
American Natl Common 028591105 1,411 20,500 X 20,500
Ins Co.
Apex Silver Common G04074103 1,592 200,000 X 200,000
Mines Ltd.
Apex Silver WTS G04074111 50 167,000 X 167,000
Mines Ltd. 110402
Applica Inc. Common 03815A106 1,240 200,000 X 200,000
AT&T Corp Common 001957208 560 40,000 X 40,000
Liberty Media-A
Ballard Pwr Common 05858H104 212 5,300 X 5,300
Sys Inc.
Barrick Gold Common 067901108 23,078 1,615,000 X 1,615,000
Corp.
Bear Stearns Common 073902108 1,144 25,000 X 25,000
Cos. Inc.
Belo Corp Common 080555105 1,235 75,000 X 75,000
Black & Decker Common 091797100 202 5,500 X 5,500
Corp
BMC Software Common 055921100 430 20,000 X 20,000
Bristol Myers Common 110122108 594 10,000 X 10,000
Squibb Co.
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TOTAL $ 38,304
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Page 3 of 12 Pages
Item 1: Item 2: Item 3: Item 4: Item 5: Item 6: Item 7: Item 8:
Investment Discretion
-----------------------
Title Fair Market Shares or (b) Shared- Managers Voting Authority (Shares)
of CUSIP Value (In Principal As Defined (c)Shared- See -------------------------
Name of Issuer Class Number Thousands) Amount (a)Sole In Instr. v Other Instr. v (a)Sole (b)Shared (c)None
Cabelvision Common 12686C109 260 3,700 X 3,700
Sys Corp
Cadiz Inc. Common 127537108 1,490 150,000 X 150,000
Cambior Inc. Common 13201L103 93 300,000 X 300,000
Carnival Corp Common 143658102 210 7,600 X 7,600
Caterpillar Inc. Common 149123101 4,881 110,000 X 110,000
Chubb Corp. Common 171232101 1,811 25,000 X 25,000
Cleveland Cliffs Common 185896107 4,142 230,100 X 230,100
Inc.
CMS Energy Corp Common 125896100 317 10,700 X 10,700
CNA Financial Common 126117100 5,585,923 159,457,480 X 159,457,480
Corp.
Comcast Corp Common 200300200 285 6,800 X 6,800
Compaq Computer Common 204493100 1,463 80,400 X 80,400
Corp.
Conexant Systems Common 207142100 137 15,300 X 15,300
Consolidated Common 209232107 460 68,200 X 68,200
Frtwys Corp.
Countrywide Cr Common 222372104 212 4,300 X 4,300
Inds
CTS Corp Common 126501105 415 20,000 X 20,000
Deere & Co. Common 244199105 1,817 50,000 X 50,000
Delphi Finl Group Common 247131105 1,480 50,000 X 50,000
Inc
Delta Airlines Common 247361108 2,568 65,000 X 65,000
Inc Del
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TOTAL $ 5,607,964
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Page 4 of 12 Pages
Item 1: Item 2: Item 3: Item 4: Item 5: Item 6: Item 7: Item 8:
Investment Discretion
-----------------------
Title Fair Market Shares or (b) Shared- Managers Voting Authority (Shares)
of CUSIP Value (In Principal As Defined (c)Shared- See -------------------------
Name of Issuer Class Number Thousands) Amount (a)Sole In Instr. v Other Instr. v (a)Sole (b)Shared (c)None
Dollar Thrifty Common 256743105 1,236 60,000 X 60,000
Automotive GP
Dow Chemical Co. Common 260543103 4,261 135,000 X 135,000
Dow Jones & Co Common 260561105 235 4,500 X 4,500
Inc.
DuPont E.I. De Common 263534109 2,035 50,000 X 50,000
Nemours & Co.
Eaton Corp. Common 278058102 356 5,200 X 5,200
Echelon Corp Common 27874N105 249 16,800 X 16,800
Equity Common 29476L107 302 5,800 X 5,800
Residential
Pptys Tr
Fairchild Common 303726103 162 12,200 X 12,200
Semiconductor
Intl
Frontline Ltd Common 35906P105 1,742 100,000 X 100,000
Furniture Brands Common 360921100 1,689 71,250 X 71,250
International
Goodyear Tire & Common 382550101 1,145 48,000 X 48,000
Rubber Co
General Elec Co Common 369604103 306 7,300 X 7,300
General Motors Common 370442105 2,074 40,000 X 40,000
Corp
Glamis Gold Ltd Common 376775102 1,832 930,000 X 930,000
GPU Inc Common 36225X100 260 8,000 X 8,000
-----------
TOTAL $ 17,884
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Page 5 of 12 Pages
Item 1: Item 2: Item 3: Item 4: Item 5: Item 6: Item 7: Item 8:
Investment Discretion
-----------------------
Title Fair Market Shares or (b) Shared- Managers Voting Authority (Shares)
of CUSIP Value (In Principal As Defined (c)Shared- See -------------------------
Name of Issuer Class Number Thousands) Amount (a)Sole In Instr. v Other Instr. v (a)Sole (b)Shared (c)None
Gulf CDA Res Ltd Common 40218L305 1,096 200,000 X 200,000
Hearst-Argyle Common 422317107 1,030 50,000 X 50,000
Television Inc.
Hershey Foods Common 427866108 229 3,300 X 3,300
Corp
Hewlett Packard Common 428236103 625 20,000 X 20,000
Co
Hilton Hotels Common 432848109 943 90,200 X 90,200
Corp
Homestake Mining Common 437614100 35,142 6,681,000 X 6,681,000
Household Intl Common 441815107 255 4,300 X 4,300
Inc
Intl. Paper Inc. Common 460146103 6,134 170,000 X 170,000
IBM Common 459200101 4,809 50,000 X 50,000
Inktomi Corp Common 457277101 665 100,000 X 100,000
Interstate Common 46072H108 306 20,000 X 20,000
Bakeries
Jabil Circuit Common 466313103 225 10,400 X 10,400
Inc
Jefferson Pilot Common 475070108 360 5,300 X 5,300
Corp
Johnson & Johnson Common 478160104 306 3,500 X 3,500
Jones Apparel Common 480074103 333 8,800 X 8,800
Grp Inc
Keithley Instrs Common 487584104 165 10,200 X 10,200
Inc
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TOTAL $ 52,623
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Page 6 of 12 Pages
Item 1: Item 2: Item 3: Item 4: Item 5: Item 6: Item 7: Item 8:
Investment Discretion
-----------------------
Title Fair Market Shares or (b) Shared- Managers Voting Authority (Shares)
of CUSIP Value (In Principal As Defined (c)Shared- See -------------------------
Name of Issuer Class Number Thousands) Amount (a)Sole In Instr. v Other Instr. v (a)Sole (b)Shared (c)None
Kinross Gold Common 496902107 457 915,000 X 915,000
Corp.
Kroger Co Common 501044101 281 10,900 X 10,900
Lincoln Natl Common 534187109 1,274 30,000 X 30,000
Corp Ind
Loews Cos. Inc Common 548661107 257 4,400 X 4,400
Lucent Tech Common 549463107 167 16,800 X 16,800
Marriott Intl Common 571903202 222 5,400 X 5,400
Inc. New
Marsh & McLennan Common 571748102 256 2,700 X 2,700
Cos. Cin
Maytag Corp. Common 578592107 3,225 100,000 X 100,000
MBIA Inc Common 55262C100 1,589 19,700 X 19,700
McGraw Hill Common 580645109 286 4,800 X 4,800
Cos Inc
Med-Design Corp. Common 583926100 270 20,000 X 20,000
Metromedia Int'l. Common 591695101 157 50,213 X 50,213
Group Inc.
MGIC Invt Corp Common 552848103 349 5,100 X 5,100
WIS
Millipore Corp Common 601073109 347 7,500 X 7,500
Mine Safety Common 602720104 766 30,000 X 30,000
Appliances Co.
Miramar Mining Common 60466E100 345 460,000 X 460,000
Corp.
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TOTAL $ 10,248
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Page 7 of 12 Pages
Item 1: Item 2: Item 3: Item 4: Item 5: Item 6: Item 7: Item 8:
Investment Discretion
-----------------------
Title Fair Market Shares or (b) Shared- Managers Voting Authority (Shares)
of CUSIP Value (In Principal As Defined (c)Shared- See -------------------------
Name of Issuer Class Number Thousands) Amount (a)Sole In Instr. v Other Instr. v (a)Sole (b)Shared (c)None
Montana Power Co Common 612085100 217 15,400 X 15,400
Money Group Inc Common 615337102 332 10,000 X 10,000
Motorola Inc. Common 620076109 1,183 83,000 X 83,000
National City Common 635405103 201 7,500 X 7,500
Corp
Navistar Int'l. Common 63934E108 3,192 140,000 X 140,000
Corp.
New York Times Common 650111107 221 5,400 X 5,400
Co
News Corp LTD- Common 652487802 821 30,000 X 30,000
Spons Adr Prf
Nortek Inc Common 656559101 1,094 40,000 X 40,000
Nortel Networks Common 656568102 1,405 100,000 X 100,000
Corp New
Omnicom Group Inc Common 681919106 829 10,000 X 10,000
On Command Corp. Common 682160106 537 85,876 X 85,876
On Command Corp. WTS B 682160122 26 27,920 X 27,920
100703
Overseas Ship- Common 690368105 3,711 135,000 X 135,000
holding Group
Inc
Perrigo Co. Common 714290103 494 50,000 X 50,000
Pitney Bowes Inc Common 724479100 202 5,800 X 5,800
Placer Dome Inc. Common 725906101 24,462 2,828,000 X 2,828,000
-----------
TOTAL $ 38,927
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Page 8 of 12 Pages
Item 1: Item 2: Item 3: Item 4: Item 5: Item 6: Item 7: Item 8:
Investment Discretion
-----------------------
Title Fair Market Shares or (b) Shared- Managers Voting Authority (Shares)
of CUSIP Value (In Principal As Defined (c)Shared- See -------------------------
Name of Issuer Class Number Thousands) Amount (a)Sole In Instr. v Other Instr. v (a)Sole (b)Shared (c)None
Potash Corp. Common 73755L107 4,061 70,000 X 70,000
Sask Inc.
Praxair Inc Common 74005P104 254 5,700 X 5,700
Robert Half Intl Common 770323103 255 11,400 X 11,400
Inc
Ryerson Tull Inc Common 78375P107 7,246 72,100 X 72,100
New
Sapient Corp Common 803062108 111 15,400 X 15,400
Snap-On Inc. Common 833034101 1,165 40,000 X 40,000
Sonic Automotive Common 83545G102 468 60,000 X 60,000
Inc
Southtrust Corp Common 844730101 380 8,300 X 8,300
Sovereign Bancorp Common 845905108 1,482 175,000 X 175,000
Inc
Starwood Hotels & Common 85590A203 289 8,500 X 8,500
Resorts wrldwd
Stillwater Mining
Co. Common 86074Q102 226 8,350 X 8,350
Steward WP & Co Common None 760 35,000 X 35,000
Ltd
St Jude Med Inc Common 790849103 269 5,000 X 5,000
Symantec Corp Common 871503108 272 6,500 X 6,500
Teekay Shipping Common None 2,769 65,000 X 65,000
Marshall Islnd
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TOTAL $ 20,007
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Page 9 of 12 Pages
Item 1: Item 2: Item 3: Item 4: Item 5: Item 6: Item 7: Item 8:
Investment Discretion
-----------------------
Title Fair Market Shares or (b) Shared- Managers Voting Authority (Shares)
of CUSIP Value (In Principal As Defined (c)Shared- See -------------------------
Name of Issuer Class Number Thousands) Amount (a)Sole In Instr. v Other Instr. v (a)Sole (b)Shared (c)None
Tele Norte Leste Common 879246106 163 10,000 X 10,000
Part SA
Telephone and Common 879433100 281 3,000 X 3,000
Data Sys Inc
Teva Pharm- Common 881624209 229 4,200 X 4,200
aceutical Inds
Textron Inc Common 883203101 2,842 50,000 X 50,000
Torchmark Corp Common 891027104 1,553 40,000 X 40,000
United Parcel Common 911312106 319 5,600 X 5,600
Service Inc
USX Marathon Common 902905827 1,347 50,000 X 50,000
Group
Vivendi Universal Common 92851S204 315 5,200 X 5,200
Wackenhut Corp Common 929794303 156 15,000 X 15,000
Wellpoint Health Common 94973H108 210 2,200 X 2,200
Network
Wells Fargo & Common 949746101 227 4,600 X 4,600
Co. New
Thoratec Corp Common 885175307 $ 2,839 334,000 X 334,000
TIBCO Software Common 88632Q103 850 100,000 X 100,000
Inc
TVX Gold Inc. Common 87308K101 396 430,000 X 430,000
Viacom Inc. Common 925524100 254 5,700 X 5,700
CL A
Visteon Corp. Common 92839U107 1,504 100,000 X 100,000
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TOTAL $ 13,485
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Page 10 of 12 Pages
Item 1: Item 2: Item 3: Item 4: Item 5: Item 6: Item 7: Item 8:
Investment Discretion
-----------------------
Title Fair Market Shares or (b) Shared- Managers Voting Authority (Shares)
of CUSIP Value (In Principal As Defined (c)Shared- See -------------------------
Name of Issuer Class Number Thousands) Amount (a)Sole In Instr. v Other Instr. v (a)Sole (b)Shared (c)None
Barrick Gold Common 067901908 572 40,000(c) X 40,000(c)
Corp.
Barrick Gold Common 067901958 7,860 550,000(p) X 550,000(p)
Corp.
BMC Software Common 055921900 2,150 100,000(p) X 100,000(p)
Boeing Common 097023955 6,964 125,000(p) X 125,000(p)
Bristol Meyers Common 110122958 2,376 400,000(p) X 400,000(p)
Squibb Co.
Caterpillar Inc. Common 149123951 6,657 150,000(p) X 150,000(p)
Caterpillar Inc. Common 149123901 4,438 100,000(c) X 100,000(c)
Chubb Corp. Common 191232951 5,070 70,000(p) X 70,000(p)
Compaq Common 204493950 1,820 100,000(p) X 100,000(p)
Deere & Co. Common 244199955 7,268 200,000(p) X 200,000(p)
Dow Chemical Co. Common 260543953 5,683 180,000(p) X 180,000(p)
DuPont E I de Common 263534959 2,035 50,000(p) X 50,000(p)
Nemours & Co.
Ford Motor Co. Common 345370950 2,868 100,000(p) X 100,000(p)
GoodYear Tire & Common 382550951 3,101 130,000(p) X 130,000(p)
Rubber Co.
Homestake Mining Common 437614950 6,154 1,170,000(p) X 1,170,000(p)
Intl Paper Co. Common 460146903 305 20,000(c) X 20,000(c)
Intl Paper Co. Common 460146953 7,216 200,000(p) X 200,000(p)
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TOTAL $ 72,537
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Page 11 of 12 Pages
Item 1: Item 2: Item 3: Item 4: Item 5: Item 6: Item 7: Item 8:
Investment Discretion
-----------------------
Title Fair Market Shares or (b) Shared- Managers Voting Authority (Shares)
of CUSIP Value (In Principal As Defined (c)Shared- See -------------------------
Name of Issuer Class Number Thousands) Amount (a)Sole In Instr. v Other Instr. v (a)Sole (b)Shared (c)None
JP Morgan Common 46625H950 1,796 40,000(p) X 40,000(p)
Maytag Corp. Common 578592907 1,616 50,000(c) X 50,000(c)
Maytag Corp. Common 578592957 6,450 200,000(p) X 200,000(p)
Motorola Common 620076959 1,426 100,000(p) X 100,000(p)
Navistar Int'l. Common 63934E958 2,280 100,000(p) X 100,000(p)
Corp.
Navistar Common 63934E908 912 40,000(c) X 40,000(c)
Omnicom Group Common 681919956 2,486 30,000(p) X 30,000(p)
Inc.
Placer Dome Common 725906901 2,595 300,000(c) X 300,000(c)
Placer Dome Common 725906951 3,244 375,000(p) X 375,000(p)
Potash Corp. Common 73755L957 5,801 100,000(p) X 100,000(p)
Sask Inc.
Salton Inc. Common 795757953 395 26,000(p) X 26,000(p)
Visteon Corp. Common 92839U957 1,504 100,000(p) X 100,000(p)
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TOTAL $ 30,505
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AGGREGATE TOTAL $ 5,902,484
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Page 12 of 12 Pages
