A locating bearing assembly (10) is provided that optimizes load distribution between bearing rows and for all rolling elements within the rows in either positive or negative torque conditions, by combining a single row tapered roller bearing with an angular contact ball bearing. The outer race (60) for the ball bearing is preloaded by a spring element (72) to prevent the balls (26) from floating freely between the ball bearing's inner and outer raceways (16, 64). This will insure that the balls (26) are always sufficiently loaded to roll along a single axis which is off set from the radial direction. The use of the single row tapered bearing and the preloaded angular contact ball bearing provides for a locating bearing assembly ("LBA") in which the ball bearing supports only reversing axial loads. All radial loads are borne by the tapered roller bearing and transmitted to the bearing assembly housing (30).