UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: September 30, 2000
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: PARAMOUNT CAPITAL ASSET MANAGEMENT, INC.
Address: 787 Seventh Avenue, 48th floor
New York, New York 10019
13F File Number:
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: Lindsay A. Rosenwald, M.D.
Title: Chairman of Paramount Capital Asset Management, Inc., the investment
manager of The Aries Master Fund II, a Cayman Island exempted company
and the General Partner of the Aries Domestic Fund, L.P.
Phone: (212) 554-4300
Signature, Place, and Date of Signing:
New York, New York November 13, 2000
--------------------------------------------------------------------------------
Report Type (Check only one.):
|X| 13F HOLDINGS REPORT.
|_| 13F NOTICE.
|_| 13F COMBINATION REPORT.
List of Other Managers Reporting for this Manager:
The Aries Master Fund II, a Cayman Island Exempted Company
--------------------------------------------------------------------------------
Aries Domestic Fund, L.P.
--------------------------------------------------------------------------------
Pursuant to General Instruction 2 to Form 13F, the securities over which The
Aries Master Fund II exercises investment discretion and over which Aries
Domestic Fund, L.P. exercises investment discretion are reported on its behalf
on this Form 13F-HR.
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934.
<PAGE>
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: Two (2)
Form 13F Information Table Entry Total:
Form 13F Information Table Value Total:
List of Other Included Managers:
No. 13F File Number Name
<PAGE>
----------------------------------------
Paramount Capital Asset Management, Inc.
Form 13F
At 9/30/2000
----------------------------------------
<TABLE>
<CAPTION>
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
-------------------------- -------------- --------- -------- -------- --- ---- ------- ------------ ------- -------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Abgenix, Inc Common 00339B107 $2,727.75 33,754 SH X No. 2 X
$5,237.78 64,814 SH X No. 1 X
$843.04 10,432 SH X X
------------------------------------------------------------------------------------------------------------------------------------
American Craft
Brewing-Warrants Common warrants $0.47 15,000 SH X No. 2 X
$1.09 35,000 SH X No. 1 X
$0.00 0 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Acacia Research Corp Common 003881109 $3,421.94 98,120 SH X No. 2 X
$6,536.34 187,422 SH X No. 1 X
$1,035.30 29,686 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Andrx Corp. Common 34551101 $44,672.84 478,424 SH X No. 2 X
$87,496.58 937,045 SH X No. 1 X
$13,040.10 139,653 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Andrx Corp. Common 34551101 $0.90 686 SH X No. 2 X
$1.76 1,342 SH X No. 1 X
$0.27 208 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Affymetrix Inc. Common 00826T108 $1,081.14 21,677 SH X No. 2 X
$2,076.00 41,624 SH X No. 1 X
$334.11 6,699 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Atherogenics Common 047439104 $456.70 52,951 SH X No. 2 X
$877.00 101,681 SH X No. 1 X
$141.17 16,368 SH X X
------------------------------------------------------------------------------------------------------------------------------------
American Home Products
Corp. Common 26609107 $1,260.78 22,290 SH X No. 2 X
$2,304.70 40,746 SH X No. 1 X
$393.90 6,964 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Alexion Pharmaceuticals
Corp. Common 015351109 $4,077.44 35,767 SH X No. 2 X
$7,829.29 68,678 SH X No. 1 X
$1,260.27 11,055 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Applied Molecular
Evolution, Inc Common 03823E108 $4,135.20 103,058 SH X No. 2 X
$7,681.05 191,428 SH X No. 1 X
$1,244.44 31,014 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Amgen Common 031162100 $3,247.08 46,501 SH X No. 2 X
$6,222.94 89,118 SH X No. 1 X
$1,004.20 14,381 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Aradigm Corp. Common 38505103 $10,733.83 467,960 SH X No. 2 X
$20,611.61 898,599 SH X No. 1 X
$3,317.84 144,647 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Avant Immunothera-
peutics-warrants Common warrants 053491106 $0.13 20 SH X No. 2 X
$0.13 20 SH X No. 1 X
$0.00 0 SH X X
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
-------------------------- -------------- --------- -------- -------- --- ---- ------- ------------ ------- -------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Avax Technologies Common 053495305 $1,994.47 255,292 SH X No. 2 X
$4,627.84 592,364 SH X No. 1 X
$157.28 20,132 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Avigen, Inc. Common 053690103 $7,067.97 177,811 SH X No. 2 X
$13,547.47 340,817 SH X No. 1 X
$2,052.61 51,638 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Aviron Common 053762100 $1,268.06 21,746 SH X No. 2 X
$2,427.02 41,621 SH X No. 1 X
$386.79 6,633 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Alza Corp. Common 022615108 $411.74 4,760 SH X No. 2 X
$757.31 8,755 SH X No. 1 X
$128.45 1,485 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Biotech Holders Trust Common 09067D201 $5,719.66 29,341 SH X No. 2 X
$11,033.27 56,599 SH X No. 1 X
$1,766.13 9,060 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Biocryst Pharma Inc. Common 09058V103 $2,733.56 131,342 SH X No. 2 X
$5,249.08 252,208 SH X No. 1 X
$844.93 40,597 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Bruker Daltonics Inc. Common 116795105 $137.43 3,097 SH X No. 2 X
$263.85 5,946 SH X No. 1 X
$42.47 957 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Biogen Common 090597105 $3,228.18 52,921 SH X No. 2 X
$6,205.23 101,725 SH X No. 1 X
$997.59 16,354 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Biotransplant Common 09066Y107 $54.02 3,166 SH X No. 2 X
$101.42 5,944 SH X No. 1 X
$15.19 890 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Caliper Technologie Common 130876105 $5,518.17 97,770 SH X No. 2 X
$10,534.86 186,478 SH X No. 1 X
$1,678.09 29,752 SH X X
------------------------------------------------------------------------------------------------------------------------------------
CardioDynamics
International Corp. ommon 141597104 $73.90 14,161 SH X No. 2 X
$138.72 26,581 SH X No. 1 X
$20.78 3,981 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Care Group, Inc. Common 141653105 $0.04 100 SH X No. 2 X
$0.04 100 SH X No. 1 X
$0.00 0 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Cubist Pharmaceuticals Common 229678107 $164.93 3,168 SH X No. 2 X
$315.39 6,058 SH X No. 1 X
$40.30 774 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Conpugen Common $234.19 17,032 SH X No. 2 X
$449.67 32,703 SH X No. 1 X
$72.39 5,265 SH X X
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
-------------------------- -------------- --------- -------- -------- --- ---- ------- ------------ ------- -------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Ciphergen Biosystems, Inc. Common 17252Y104 $990.91 30,966 SH X No. 2 X
$1,902.82 59,463 SH X No. 1 X
$306.27 9,571 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Collagenesis Corp Common $35.00 7,778 SH X No. 2 X
$65.00 14,444 SH X No. 1 X
$0.00 0 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Coulter Pharmaceuticals,
Inc. Common 222116105 $387.76 13,429 SH X No. 2 X
$707.32 24,496 SH X No. 1 X
$106.12 3,675 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Cor Therapeutics Common 217753102 $2,584.10 41,470 SH X No. 2 X
$4,838.13 77,643 SH X No. 1 X
$803.02 12,887 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Cell Therapeutics Inc. Common 150934107 $18,940.04 332,229 SH X No. 2 X
$36,728.85 644,264 SH X No. 1 X
$4,041.20 70,887 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Curon Medical Inc. Common 231292103 $462.94 40,256 SH X No. 2 X
$888.96 77,301 SH X No. 1 X
$143.09 12,443 SH X X
------------------------------------------------------------------------------------------------------------------------------------
CV Therapeutics Common 126667104 $5,349.48 68,776 SH X No. 2 X
$10,272.26 132,066 SH X No. 1 X
$1,653.47 21,258 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Cygnus Therapeutics Common 232560102 $704.81 64,074 SH X No. 2 X
$1,309.08 119,007 SH X No. 1 X
$208.11 18,919 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Cypress Biosciences Common 232674101 $5,662.43 4,194,390 SH X No. 2 X
$13,154.65 9,744,182 SH X No. 1 X
$455.78 337,613 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Cardiac Science Inc Common 141410209 $338.41 40,257 SH X No. 2 X
$649.80 77,300 SH X No. 1 X
$104.60 12,443 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Deltagen, Inc Common 24783R103 $343.62 11,107 SH X No. 2 X
$631.99 20,428 SH X No. 1 X
$107.20 3,465 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Discovery Laboratories,
Inc. Common 254668106 $1,357.46 184,062 SH X No. 2 X
$3,199.83 433,875 SH X No. 1 X
$21.70 2,943 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Diversa Corp. Common 255064107 $1,304.48 48,314 SH X No. 2 X
$2,478.82 91,808 SH X No. 1 X
$401.71 14,878 SH X X
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
-------------------------- -------------- --------- -------- -------- --- ---- ------- ------------ ------- -------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
e-Medsoft.com Common 26873Q101 $684.87 260,899 SH X No. 2 X
$1,585.34 603,926 SH X No. 1 X
$66.09 25,175 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Endorex Corporation Common 29264N307 $2,303.75 996,214 SH X No. 2 X
$5,121.02 2,214,493 SH X No. 1 X
$46.91 20,284 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Epoch Pharm Inc Common 294273107 $59.70 6,193 SH X No. 2 X
$114.66 11,893 SH X No. 1 X
$18.45 1,914 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Enzon, Inc. Common 293904108 $22,040.44 333,946 SH X No. 2 X
$49,130.07 744,395 SH X No. 1 X
$6,495.65 98,419 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Exelixis, Inc Common 30161Q104 $99.33 3,166 SH X No. 2 X
$186.49 5,944 SH X No. 1 X
$27.92 890 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Forest Labs Inc Common 345838106 $1,411.57 12,308 SH X No. 2 X
$2,710.87 23,637 SH X No. 1 X
$436.39 3,805 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Genencor International
Inc Common 36870910 $1,178.42 39,778 SH X No. 2 X
$2,245.63 75,802 SH X No. 1 X
$353.13 11,920 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Gilead Sciences, Inc. Common 375558103 $1,745.02 15,909 SH X No. 2 X
$3,308.18 30,160 SH X No. 1 X
$540.87 4,931 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Gemini Gemonics plc Common 36865M109 $477.93 33,247 SH X No. 2 X
$897.10 62,407 SH X No. 1 X
$134.35 9,346 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Genomica Corp Common 37243Q101 $722.30 37,160 SH X No. 2 X
$1,386.92 71,353 SH X No. 1 X
$223.28 11,487 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Genaissance Pharma-
ceuticals, Inc Common 36867W105 $1,202.61 58,132 SH X No. 2 X
$2,250.76 108,798 SH X No. 1 X
$373.82 18,070 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Genomic Solution, Inc. Common 37243R109 $108.85 6,333 SH X No. 2 X
$204.31 11,887 SH X No. 1 X
$30.59 1,780 SH X X
------------------------------------------------------------------------------------------------------------------------------------
GenStar Therapeutics
Corp Common 37248D105 $19,376.28 1,761,480 SH X No. 2 X
$41,330.38 3,757,307 SH X No. 1 X
$3,267.50 297,045 SH X X
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
-------------------------- -------------- --------- -------- -------- --- ---- ------- ------------ ------- -------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Genta, Inc. Common 37245M207 $24,771.69 2,590,504 SH X No. 2 X
$53,603.44 5,605,588 SH X No. 1 X
$5,591.04 584,684 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Global Phototonic Energy
Corp. Common $304.32 121,726 SH X No. 2 X
$648.08 259,230 SH X No. 1 X
$47.61 19,044 SH X X
------------------------------------------------------------------------------------------------------------------------------------
HeavenlyDoor.com Inc. Common 42248Q106 $1,155.89 3,362,599 SH X No. 2 X
$2,323.32 6,758,747 SH X No. 1 X
$4.47 12,995 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Hemisphere Biopharma
Inc. - Warrants Common warrants 42366C103 $0.32 100 SH X No. 2 X
$0.32 100 SH X No. 1 X
$0.00 0 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Human Genome Sciences
Inc. Common 444903108 $3,278.12 18,935 SH X No. 2 X
$8,666.29 50,058 SH X No. 1 X
$866.84 5,007 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Internet Holders Trust Common 46059W102 $234.85 2,418 SH X No. 2 X
$437.84 4,508 SH X No. 1 X
$55.75 574 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Internet Tradeline Common $25.00 25,000 SH X No. 2 X
$25.00 25,000 SH X No. 1 X
$0.00 0 SH X X
------------------------------------------------------------------------------------------------------------------------------------
IDEC Pharmaceuticals Common 449370105 $2,577.43 14,698 SH X No. 2 X
$4,890.25 27,887 SH X No. 1 X
$774.21 4,415 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Imclone Systems Common 45245W109 $5,573.70 47,613 SH X No. 2 X
$10,732.41 91,681 SH X No. 1 X
$1,721.52 14,706 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Immunomedics, Inc Common 452907108 $22,592.34 1,079,037 SH X No. 2 X
$43,382.14 2,071,983 SH X No. 1 X
$6,983.66 333,548 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Immunex Corp. Common 452528102 $2,155.29 49,547 SH X No. 2 X
$4,138.55 95,139 SH X No. 1 X
$666.16 15,314 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Incyte Pharmaceuticals
Inc. Common 45337C102 $260.81 6,342 SH X No. 2 X
$517.11 12,574 SH X No. 1 X
$44.58 1,084 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Inkline Pharm Inc Common $1,398.12 130,058 SH X No. 2 X
$2,684.72 249,741 SH X No. 1 X
$432.16 40,201 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Inspire Pharma-
ceuticals, Inc Common 457733103 $980.58 32,686 SH X No. 2 X
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
-------------------------- -------------- --------- -------- -------- --- ---- ------- ------------ ------- -------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$1,803.48 60,116 SH X No. 1 X
$305.94 10,198 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Insite Vision Inc. Common 457660108 $687.67 90,186 SH X No. 2 X
$1,310.68 171,892 SH X No. 1 X
$212.91 27,922 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Invitrogen Corp Common 46119F107 $450.43 6,333 SH X No. 2 X
$845.46 11,887 SH X No. 1 X
$126.60 1,780 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Kimeragen, Inc. Common $39.02 9,515 SH X No. 2 X
$59.14 12,030 SH X No. 1 X
$0.00 0 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Lexicon Genetics, Inc Common 528872104 $195.85 6,193 SH X No. 2 X
$376.12 11,893 SH X No. 1 X
$60.53 1,914 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Lorus Therapeutics Inc. Common 544191109 $2,874.64 1,586,006 SH X No. 2 X
$5,520.00 3,045,517 SH X No. 1 X
$888.55 490,234 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Lynxtherapeutics Inc Common 551812308 $484.84 15,484 SH X No. 2 X
$930.92 29,730 SH X No. 1 X
$149.86 4,786 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Magainan Pharma-
ceuticals, Inc. Common 559036108 $661.13 211,561 SH X No. 2 X
$1,215.93 389,096 SH X No. 1 X
$206.28 66,009 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Maxim Pharmaceuticals,
Inc. Common 57772M107 $9.42 155 SH X No. 2 X
$18.04 297 SH X No. 1 X
$2.92 48 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Medarex Inc. Common 583916101 $1,365.63 11,641 SH X No. 2 X
$2,595.07 22,121 SH X No. 1 X
$379.86 3,238 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Methanex Corp Common 59151K108 $158.71 31,350 SH X No. 2 X
$298.25 58,913 SH X No. 1 X
$49.29 9,737 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Millenium Pharma-
ceutical inc Common 599902103 $3,477.31 23,807 SH X No. 2 X
$6,695.51 45,840 SH X No. 1 X
$1,074.00 7,353 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Molecular Devices Corp.. Common 60851C107 $997.05 10,148 SH X No. 2 X
$2,063.49 21,002 SH X No. 1 X
$181.71 1,850 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Neo Pharm, Inc Common 640919106 $2,216.98 56,126 SH X No. 2 X
$4,246.88 107,516 SH X No. 1 X
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
-------------------------- -------------- --------- -------- -------- --- ---- ------- ------------ ------- -------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$685.64 17,358 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Neose Tech. Common 640522108 $4,796.91 99,161 SH X No. 2 X
$10,785.59 222,958 SH X No. 1 X
$776.42 16,050 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Neurobiological
Technologies Common 64124W106 $2,531.00 355,872 SH X No. 2 X
$6,225.08 875,280 SH X No. 1 X
$201.61 28,348 SH X X
------------------------------------------------------------------------------------------------------------------------------------
NPS Pharmaceuticals Common 62936P103 $862.07 15,241 SH X No. 2 X
$1,820.75 32,190 SH X No. 1 X
$145.31 2,569 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Oral Tech., Inc. Common $126.59 34,631 SH X No. 2 X
$291.16 79,650 SH X No. 1 X
$7.25 1,983 SH X X
------------------------------------------------------------------------------------------------------------------------------------
OraPharma, Inc Common 68554E106 $300.52 22,364 SH X No. 2 X
$565.29 42,068 SH X No. 1 X
$88.26 6,568 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Orchid BioSciences Inc. Common 68571P100 $325.14 9,563 SH X No. 2 X
$604.86 17,790 SH X No. 1 X
$90.00 2,647 SH X X
------------------------------------------------------------------------------------------------------------------------------------
OSI Pharma Inc Common 671040103 $4,201.12 60,016 SH X No. 2 X
$7,857.85 112,255 SH X No. 1 X
$1,241.03 17,729 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Oxigene Inc Common 691828107 $64.91 6,333 SH X No. 2 X
$121.84 11,887 SH X No. 1 X
$18.25 1,780 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Packard BioScience Comp Common 695172205 $123.49 6,333 SH X No. 2 X
$231.80 11,887 SH X No. 1 X
$34.71 1,780 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Palatin Technologies Inc. Common 696077304 $698.68 118,924 SH X No. 2 X
$1,365.13 232,363 SH X No. 1 X
$292.48 49,783 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Paradigm Genetics, Inc Common 69911R106 $151.20 6,333 SH X No. 2 X
$283.80 11,887 SH X No. 1 X
$42.50 1,780 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Phytotech Common 718954100 $0.00 2,667 SH X No. 2 X
$0.00 6,222 SH X No. 1 X
$0.00 0 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Protein Design Labs Common 74369L103 $6,161.65 51,134 SH X No. 2 X
$11,878.29 98,575 SH X No. 1 X
$1,902.82 15,791 SH X X
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
-------------------------- -------------- --------- -------- -------- --- ---- ------- ------------ ------- -------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
PE Corp. - PE Biosystems
Group Common 693325102 $3,787.88 32,514 SH X No. 2 X
$7,273.79 62,436 SH X No. 1 X
$1,170.83 10,050 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Progenics Pharmaceuticals Common 743189106 $87.06 3,173 SH X No. 2 X
$160.15 5,837 SH X No. 1 X
$27.16 990 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Praecis Pharmaceuticals,
Inc Common 739421105 $2,697.26 63,465 SH X No. 2 X
$4,961.15 116,733 SH X No. 1 X
$841.59 19,802 SH X X
------------------------------------------------------------------------------------------------------------------------------------
ParkerVision, Inc Common 701354102 $2,418.62 50,257 SH X No. 2 X
$4,644.45 96,508 SH X No. 1 X
$747.62 15,535 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Quiagen N.V. Common $747.73 15,867 SH X No. 2 X
$1,375.25 29,183 SH X No. 1 X
$233.27 4,950 SH X X
------------------------------------------------------------------------------------------------------------------------------------
QXL.Com PLC ADS WI Common 74912W101 $1.63 441 SH X No. 2 X
$3.79 1,029 SH X No. 1 X
$0.11 30 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Radward Ltd Common $664.95 22,165 SH X No. 2 X
$1,248.12 41,604 SH X No. 1 X
$186.93 6,231 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Repligen Corp. Common 759916109 $9,504.90 1,334,021 SH X No. 2 X
$23,484.87 3,296,122 SH X No. 1 X
$1,580.37 221,807 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Rosetta Inpharmatic Inc Common 777777103 $44.26 1,587 SH X No. 2 X
$81.38 2,918 SH X No. 1 X
$13.81 495 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Telik, Inc. Common 87959M109 $282.51 30,960 SH X No. 2 X
$519.01 56,878 SH X No. 1 X
$88.17 9,662 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Tularik, Inc. Common 899165104 $603.41 18,285 SH X No. 2 X
$1,143.78 34,660 SH X No. 1 X
$150.32 4,555 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Tanox, Inc Common 87588Q109 $12,970.60 382,896 SH X No. 2 X
$24,906.63 735,251 SH X No. 1 X
$4,009.21 118,353 SH X X
------------------------------------------------------------------------------------------------------------------------------------
TriPath Imaging, Inc Common 896942109 $81.24 11,606 SH X No. 2 X
$138.01 19,715 SH X No. 1 X
$25.75 3,679 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Titan Pharmaceuticals Common 888314101 $2,784.93 42,845 SH X No. 2 X
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
-------------------------- -------------- --------- -------- -------- --- ---- ------- ------------ ------- -------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$5,152.81 79,274 SH X No. 1 X
$837.27 12,881 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Vascular Solutions, Inc Common 92231M109 $207.96 11,082 SH X No. 2 X
$390.38 20,803 SH X No. 1 X
$58.45 3,115 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Vianet Technologies Common 925537109 $115.63 100,000 SH X No. 2 X
$246.68 213,333 SH X No. 1 X
$23.13 20,000 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Visible Genetics Inc. Common 92829S104 $1,125.25 27,870 SH X No. 2 X
$2,160.71 53,516 SH X No. 1 X
$347.79 8,614 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Variagenics, Inc Common 922196100 $818.07 36,562 SH X No. 2 X
$1,515.28 67,722 SH X No. 1 X
$246.48 11,016 SH X X
------------------------------------------------------------------------------------------------------------------------------------
ViroLogic, Inc. Common 92823R201 $1,667.50 98,815 SH X No. 2 X
$3,119.02 184,831 SH X No. 1 X
$470.04 27,854 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Vertex Common 92532F100 $5,705.02 67,515 SH X No. 2 X
$10,970.04 129,823 SH X No. 1 X
$1,762.84 20,862 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Xoma Ltd. Common $89.41 6,193 SH X No. 2 X
$171.71 11,893 SH X No. 1 X
$27.63 1,914 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Xenometrix-Wts Common warrants 984109116 $0.43 12,000 SH X No. 2 X
$0.64 18,000 SH X No. 1 X
$0.00 0 SH X X
------------------------------------------------------------------------------------------------------------------------------------
XTL Biopharmaceuticals
Ltd. Common $892.52 540,922 SH X No. 2 X
$0.00 0 SH X No. 1 X
$207.48 125,744 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Amgen Inc Put 1/35 Long Puts 031162100 $13.56 31,000 SH Puts X No. 2 X
$25.99 59,400 SH Puts X No. 1 X
$4.20 9,600 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Amgen Inc Put 1/40 Long Puts 031162100 $10.43 13,900 SH Puts X No. 2 X
$20.10 26,800 SH Puts X No. 1 X
$3.23 4,300 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Amgen Inc Put 1/45 Long Puts 031162100 $8.33 7,400 SH Puts X No. 2 X
$16.09 14,300 SH Puts X No. 1 X
$2.59 2,300 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Amgen Inc. Put 1/50 Long Puts 031162100 $7.48 4,600 SH Puts X No. 2 X
$14.63 9,000 SH Puts X No. 1 X
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
-------------------------- -------------- --------- -------- -------- --- ---- ------- ------------ ------- -------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$2.28 1,400 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Amgen Inc. Put 4/55 Long Puts 031162100 $13.95 3,600 SH Puts X No. 2 X
$26.35 6,800 SH Puts X No. 1 X
$4.26 1,100 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Amgen Inc. Put 4/60 Long Puts 031162100 $14.22 2,500 SH Puts X No. 2 X
$26.73 4,700 SH Puts X No. 1 X
$4.55 800 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Amgen Inc Put 1/36.25 Long Puts 031162100 $9.70 20,700 SH Puts X No. 2 X
$18.70 39,900 SH Puts X No. 1 X
$3.00 6,400 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Amgen Inc Put 1/33.75 Long Puts 031162100 $9.69 31,000 SH Puts X No. 2 X
$18.56 59,400 SH Puts X No. 1 X
$3.00 9,600 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Amgen Inc Put 1/50 Long Puts 031162100 $12.65 4,600 SH Puts X No. 2 X
$24.75 9,000 SH Puts X No. 1 X
$3.85 1,400 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
American Home Prods Corp
Call 1/40 Long Calls 26609107 $337.36 13,700 SH Calls X No. 2 X
$684.58 27,800 SH Calls X No. 1 X
$108.35 4,400 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
American Home Prods Corp
Call 1/50 Long Calls 26609107 $258.19 13,500 SH Calls X No. 2 X
$514.46 26,900 SH Calls X No. 1 X
$74.59 3,900 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
American Home Prods Corp
Call 1/60 Long Calls 26609107 $269.10 18,400 SH Calls X No. 2 X
$481.16 32,900 SH Calls X No. 1 X
$89.21 6,100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
American Home Prods Corp
Call 1/70 Long Calls 26609107 $267.00 24,000 SH Calls X No. 2 X
$505.08 45,400 SH Calls X No. 1 X
$75.65 6,800 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Amgen Inc. Call 1/40 Long Calls 031162100 $9.23 300 SH Calls X No. 2 X
$21.53 700 SH Calls X No. 1 X
$0.00 0 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Andrx Corp Call 3/95 Long Calls 034551101 $113.40 7,200 SH Calls X No. 2 X
$207.90 13,200 SH Calls X No. 1 X
$36.23 2,300 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Andrx Corp Call 3/100 Long Calls 034551101 $123.63 8,600 SH Calls X No. 2 X
$224.25 15,600 SH Calls X No. 1 X
$37.38 2,600 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Andrx Corp Call 3/95 Long Calls 034551101 $27.79 1,900 SH Calls X No. 2 X
$51.19 3,500 SH Calls X No. 1 X
$8.78 600 SH Calls X X
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
-------------------------- -------------- --------- -------- -------- --- ---- ------- ------------ ------- -------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Andrx Corp Call 3/100 Long Calls 034551101 $28.46 2,300 SH Calls X No. 2 X
$55.69 4,500 SH Calls X No. 1 X
$8.66 700 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Adrx Corp Put 67.3851 Long Puts 034551101 $57.16 4,600 SH Puts X No. 2 X
$111.84 9,000 SH Puts X No. 1 X
$17.40 1,400 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Aradigm Corp. Call 10/25 Long Calls 38505103 $1.93 2,200 SH Calls X No. 2 X
$4.11 4,700 SH Calls X No. 1 X
$0.53 600 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Aradigm Corp. Call 10/30 Long Calls 38505103 $0.63 2,500 SH Calls X No. 2 X
$1.33 5,300 SH Calls X No. 1 X
$0.18 700 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Aradigm Corp Call 10/15 Long Calls 38505103 $19.20 2,400 SH Calls X No. 2 X
$41.60 5,200 SH Calls X No. 1 X
$4.00 500 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Aradigm Corp Call 10/20 Long Calls 38505103 $10.33 2,900 SH Calls X No. 2 X
$23.87 6,700 SH Calls X No. 1 X
$2.49 700 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Aradigm Corp Call
10/12.5 Long Calls 38505103 $23.10 2,200 SH Calls X No. 2 X
$47.25 4,500 SH Calls X No. 1 X
$5.25 500 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Aradigm Corp Call
10/17.5 Long Calls 38505103 $14.79 2,600 SH Calls X No. 2 X
$33.56 5,900 SH Calls X No. 1 X
$3.41 600 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Aviron Call 11/25 Long Calls 053762100 $154.68 4,600 SH Calls X No. 2 X
$319.44 9,500 SH Calls X No. 1 X
$40.35 1,200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Aviron Call 11/30 Long Calls 053762100 $87.38 3,000 SH Calls X No. 2 X
$174.75 6,000 SH Calls X No. 1 X
$23.30 800 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Aviron Call 11/22.5 Long Calls 053762100 $274.55 7,600 SH Calls X No. 2 X
$581.61 16,100 SH Calls X No. 1 X
$65.03 1,800 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Biochem Pharma Inc.
Call 1/20 Long Calls 09058T108 $18.90 5,600 SH Calls X No. 2 X
$40.84 12,100 SH Calls X No. 1 X
$4.73 1,400 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Biochem Pharma Inc.
Call 1/25 Long Calls 09058T108 $7.00 5,600 SH Calls X No. 2 X
$15.13 12,100 SH Calls X No. 1 X
$1.75 1,400 SH Calls X X
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
-------------------------- -------------- --------- -------- -------- --- ---- ------- ------------ ------- -------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Biochem Pharma Inc.
Call 1/30 Long Calls 09058T108 $1.58 5,600 SH Calls X No. 2 X
$3.40 12,100 SH Calls X No. 1 X
$0.39 1,400 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Biogen, Inc. Call 1/35 Long Calls 090597105 $99.90 3,700 SH Calls X No. 2 X
$218.70 8,100 SH Calls X No. 1 X
$27.00 1,000 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Biogen, Inc. Call 1/40 Long Calls 090597105 $85.56 3,700 SH Calls X No. 2 X
$187.31 8,100 SH Calls X No. 1 X
$23.13 1,000 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Biogen, Inc. Call 1/45 Long Calls 090597105 $69.38 3,700 SH Calls X No. 2 X
$151.88 8,100 SH Calls X No. 1 X
$18.75 1,000 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Biogen, Inc. Call 1/32.5 Long Calls 090597105 $108.69 3,700 SH Calls X No. 2 X
$237.94 8,100 SH Calls X No. 1 X
$29.38 1,000 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Biogen, Inc. Call 1/37.5 Long Calls 090597105 $91.58 3,700 SH Calls X No. 2 X
$200.48 8,100 SH Calls X No. 1 X
$24.75 1,000 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Biogen, Inc. Call 1/42.5 Long Calls 090597105 $76.08 3,700 SH Calls X No. 2 X
$166.56 8,100 SH Calls X No. 1 X
$20.56 1,000 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Biogen, Inc. Call 1/90 Long Calls 090597105 $12.38 1,100 SH Calls X No. 2 X
$28.13 2,500 SH Calls X No. 1 X
$2.25 200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Biogen, Inc. Call 1/95 Long Calls 090597105 $12.08 1,200 SH Calls X No. 2 X
$27.17 2,700 SH Calls X No. 1 X
$2.01 200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Bio Holders Trust Put
10/150 Long Puts 09067D201 $133.76 118,900 SH Puts X No. 2 X
$257.06 228,500 SH Puts X No. 1 X
$41.51 36,900 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Biotech Holders Trust
Call 10/150 Long Calls 09067D201 $36.80 800 SH Calls X No. 2 X
$69.00 1,500 SH Calls X No. 1 X
$9.20 200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Biotech Holders Trust
Call 11/160 Long Calls 09067D201 $37.24 900 SH Calls X No. 2 X
$66.20 1,600 SH Calls X No. 1 X
$12.41 300 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Biotech Holders Trust
Put 1/150 Long Puts 09067D201 $41.25 5,000 SH Puts X No. 2 X
$78.38 9,500 SH Puts X No. 1 X
$12.38 1,500 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Biotech Holders Trust
Put 1/155 Long Puts 09067D201 $42.90 4,400 SH Puts X No. 2 X
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
-------------------------- -------------- --------- -------- -------- --- ---- ------- ------------ ------- -------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$80.93 8,300 SH Puts X No. 1 X
$12.68 1,300 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Biotech Holders Trust
Put 1/160 Long Puts 09067D201 $39.78 3,700 SH Puts X No. 2 X
$73.10 6,800 SH Puts X No. 1 X
$11.83 1,100 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Biotech Holders Trust
Put 1/115 Long Puts 09067D201 $43.39 17,800 SH Puts X No. 2 X
$83.12 34,100 SH Puts X No. 1 X
$13.41 5,500 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Biotech Holders Trust
Put 1/120 Long Puts 09067D201 $42.08 15,300 SH Puts X No. 2 X
$80.30 29,200 SH Puts X No. 1 X
$12.93 4,700 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Biotech Holders Trust
Put 1/125 Long Puts 09067D201 $41.68 11,700 SH Puts X No. 2 X
$79.80 22,400 SH Puts X No. 1 X
$12.83 3,600 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Biotech Holders Trust
Put 1/130 Long Puts 09067D201 $42.16 9,500 SH Puts X No. 2 X
$82.09 18,500 SH Puts X No. 1 X
$12.87 2,900 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Biotech Holders Trust
Put 1/135 Long Puts 09067D201 $41.50 8,000 SH Puts X No. 2 X
$78.33 15,100 SH Puts X No. 1 X
$12.97 2,500 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Biotech Holders Trust
Put 1/140 Long Puts 09067D201 $42.50 6,800 SH Puts X No. 2 X
$81.25 13,000 SH Puts X No. 1 X
$12.50 2,000 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Biotech Holders Trust
Put 1/145 Long Puts 09067D201 $42.78 5,800 SH Puts X No. 2 X
$82.60 11,200 SH Puts X No. 1 X
$13.28 1,800 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Biotech Holders Trust
Put 11/150 Long Puts 09067D201 $43.75 12,500 SH Puts X No. 2 X
$83.30 23,800 SH Puts X No. 1 X
$13.30 3,800 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Biotech Holders Trust
Put 11/155 Long Puts 09067D201 $42.29 10,100 SH Puts X No. 2 X
$80.82 19,300 SH Puts X No. 1 X
$12.98 3,100 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Biotech Holders Trust
Put 11/160 Long Puts 09067D201 $40.50 8,100 SH Puts X No. 2 X
$79.50 15,900 SH Puts X No. 1 X
$12.00 2,400 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Biotech Holders Trust
Put 11/165 Long Puts 09067D201 $38.59 6,300 SH Puts X No. 2 X
$74.11 12,100 SH Puts X No. 1 X
$11.64 1,900 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Bio Holders Trust Put
10/155 Long Puts 09067D201 $118.25 86,000 SH Puts X No. 2 X
$226.60 164,800 SH Puts X No. 1 X
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
-------------------------- -------------- --------- -------- -------- --- ---- ------- ------------ ------- -------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$36.44 26,500 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Bio Holders Trust
Put 10/160 Long Puts 09067D201 $126.20 63,100 SH Puts X No. 2 X
$232.00 116,000 SH Puts X No. 1 X
$38.80 19,400 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Biotech Holders Trust
Put 10/165 Long Puts 09067D201 $122.74 47,900 SH Puts X No. 2 X
$236.01 92,100 SH Puts X No. 1 X
$37.67 14,700 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Biotech Holders Trust
Put 10/170 Long Puts 09067D201 $232.05 72,800 SH Puts X No. 2 X
$437.64 137,300 SH Puts X No. 1 X
$72.36 22,700 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Biotech Holders Trust
Put 10/175 Long Puts 09067D201 $170.00 42,500 SH Puts X No. 2 X
$320.00 80,000 SH Puts X No. 1 X
$52.40 13,100 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Biotech Holders Trust
Put 10/180 Long Puts 09067D201 $115.50 23,100 SH Puts X No. 2 X
$218.50 43,700 SH Puts X No. 1 X
$36.00 7,200 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Biotechnology Index
Put 10/680 Long Puts $69.38 5,000 SH Puts X No. 2 X
$131.81 9,500 SH Puts X No. 1 X
$20.81 1,500 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Biotechnology Index
Put 10/700 Long Puts $46.48 2,600 SH Puts X No. 2 X
$91.16 5,100 SH Puts X No. 1 X
$14.30 800 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Biotechnology Index
Put 10/720 Long Puts $52.80 2,200 SH Puts X No. 2 X
$103.20 4,300 SH Puts X No. 1 X
$16.80 700 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Bristol Meyers Squibb
Co. Call 1/50 Long Calls 110122108 $208.05 11,400 SH Calls X No. 2 X
$381.43 20,900 SH Calls X No. 1 X
$74.83 4,100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Bristol Meyers Squibb
Co. Call 1/60 Long Calls 110122108 $204.05 15,400 SH Calls X No. 2 X
$393.53 29,700 SH Calls X No. 1 X
$56.98 4,300 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Bristol Meyers Squibb
Co. Call 1/70 Long Calls 110122108 $201.16 20,900 SH Calls X No. 2 X
$380.19 39,500 SH Calls X No. 1 X
$59.68 6,200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Cell Pathways, Inc
Call 10/40 Long Calls 15114R101 $19.70 78,800 SH Calls X No. 2 X
$36.78 147,100 SH Calls X No. 1 X
$6.13 24,500 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Chiron Corp. Call 1/15 Long Calls 170040109 $35.70 1,400 SH Calls X No. 2 X
$76.50 3,000 SH Calls X No. 1 X
$10.20 400 SH Calls X X
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
-------------------------- -------------- --------- -------- -------- --- ---- ------- ------------ ------- -------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Chiron Corp. Call 1/25 Long Calls 170040109 $29.23 1,400 SH Calls X No. 2 X
$62.63 3,000 SH Calls X No. 1 X
$8.35 400 SH Calls X X
---------------------------------------------------------------------------------------------------------------------------------
Chiron Corp. Call 1/30 Long Calls 170040109 $23.80 1,400 SH Calls X No. 2 X
$51.00 3,000 SH Calls X No. 1 X
$6.80 400 SH Calls X X
---------------------------------------------------------------------------------------------------------------------------------
Chiron Corp. Call 1/35 Long Calls 170040109 $17.85 1,400 SH Calls X No. 2 X
$38.25 3,000 SH Calls X No. 1 X
$5.10 400 SH Calls X X
---------------------------------------------------------------------------------------------------------------------------------
Chiron Corp. Call 1/15 Long Calls 170040109 $44.63 1,400 SH Calls X No. 2 X
$95.63 3,000 SH Calls X No. 1 X
$12.75 400 SH Calls X X
---------------------------------------------------------------------------------------------------------------------------------
Chiron Corp. Call 1/20 Long Calls 170040109 $39.38 1,400 SH Calls X No. 2 X
$84.38 3,000 SH Calls X No. 1 X
$11.25 400 SH Calls X X
---------------------------------------------------------------------------------------------------------------------------------
Creative Biomolecules
Call 11/7.5 Long Calls 225270107 $10.58 18,800 SH Calls X No. 2 X
$22.67 40,300 SH Calls X No. 1 X
$2.59 4,600 SH Calls X X
---------------------------------------------------------------------------------------------------------------------------------
Enzon, Inc. Call 11/30 Long Calls 294100102 $21.90 600 SH Calls X No. 2 X
$62.05 1,700 SH Calls X No. 1 X
$3.65 100 SH Calls X X
---------------------------------------------------------------------------------------------------------------------------------
Enzon, Inc. Call 11/35 Long Calls 294100102 $22.31 700 SH Calls X No. 2 X
$70.13 2,200 SH Calls X No. 1 X
$3.19 100 SH Calls X X
---------------------------------------------------------------------------------------------------------------------------------
Enzon Inc. Call 11/40 Long Calls 294100102 $18.73 700 SH Calls X No. 2 X
$48.15 1,800 SH Calls X No. 1 X
$5.35 200 SH Calls X X
---------------------------------------------------------------------------------------------------------------------------------
Enzon Inc. Call 11/45 Long Calls 294100102 $17.80 800 SH Calls X No. 2 X
$53.40 2,400 SH Calls X No. 1 X
$2.23 100 SH Calls X X
---------------------------------------------------------------------------------------------------------------------------------
Enzon Inc. Put 2/30 Long Puts 294100102 $8.32 12,100 SH Puts X No. 2 X
$15.95 23,200 SH Puts X No. 1 X
$2.54 3,700 SH Puts X X
---------------------------------------------------------------------------------------------------------------------------------
Enzon Inc. Put 2/35 Long Puts 294100102 $5.32 3,700 SH Puts X No. 2 X
$10.35 7,200 SH Puts X No. 1 X
$1.58 1,100 SH Puts X X
---------------------------------------------------------------------------------------------------------------------------------
Enzon Inc. Put 2/40 Long Puts 294100102 $27.42 10,700 SH Puts X No. 2 X
$52.53 20,500 SH Puts X No. 1 X
$8.46 3,300 SH Puts X X
---------------------------------------------------------------------------------------------------------------------------------
Enzon Inc. Put 2/45 Long Puts 294100102 $19.88 6,000 SH Puts X No. 2 X
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
-------------------------- -------------- --------- -------- -------- --- ---- ------- ------------ ------- -------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$38.43 11,600 SH Puts X No. 1 X
$6.29 1,900 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Enzon Inc. Put 2/50 Long Puts 294100102 $18.04 3,700 SH Puts X No. 2 X
$35.10 7,200 SH Puts X No. 1 X
$5.36 1,100 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Enzon Inc. Put 2/55 Long Puts 294100102 $16.56 2,500 SH Puts X No. 2 X
$31.14 4,700 SH Puts X No. 1 X
$5.30 800 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Enzon Inc. Call 11/50 Long Calls 294100102 $18.13 1,000 SH Calls X No. 2 X
$50.75 2,800 SH Calls X No. 1 X
$1.81 100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Enzon Inc. Call 11/55 Long Calls 294100102 $17.40 1,200 SH Calls X No. 2 X
$50.75 3,500 SH Calls X No. 1 X
$1.45 100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Enzon Inc. Call 11/60 Long Calls 294100102 $16.97 1,500 SH Calls X No. 2 X
$42.99 3,800 SH Calls X No. 1 X
$1.13 100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Enzon Inc. Call 11/65 Long Calls 294100102 $15.98 1,800 SH Calls X No. 2 X
$42.60 4,800 SH Calls X No. 1 X
$1.78 200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Glaxo Wellcome Plc-Spons
Adr calls 1/70 Long Calls 37733W105 $15.53 2,700 SH Calls X No. 2 X
$40.25 7,000 SH Calls X No. 1 X
$1.15 200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Human Genome Sciences,
Inc.Put 1/105 Long Puts 444903108 $5.50 1,100 SH Puts X No. 2 X
$10.50 2,100 SH Puts X No. 1 X
$1.50 300 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Human Genome Sciences,
Inc.Put 1/110 Long Puts 444903108 $5.57 900 SH Puts X No. 2 X
$11.14 1,800 SH Puts X No. 1 X
$1.86 300 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Human Genome Sciences,
Inc.Put 1/80 Long Puts 444903108 $4.35 2,900 SH Puts X No. 2 X
$8.55 5,700 SH Puts X No. 1 X
$1.35 900 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Human Genome Sciences,
Inc.Put 1/85 Long Puts 444903108 $4.69 2,500 SH Puts X No. 2 X
$8.81 4,700 SH Puts X No. 1 X
$1.50 800 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Human Genome Sciences,
Inc.Put 1/90 Long Puts 444903108 $4.75 1,900 SH Puts X No. 2 X
$8.75 3,500 SH Puts X No. 1 X
$1.50 600 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Human Genome Sciences,
Inc.Put 1/95 Long Puts 444903108 $4.78 1,500 SH Puts X No. 2 X
$9.56 3,000 SH Puts X No. 1 X
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
-------------------------- -------------- --------- -------- -------- --- ---- ------- ------------ ------- -------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$1.59 500 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Human Genome Sciences,
Inc.Put 1/100 Long Puts 444903108 $4.80 1,200 SH Puts X No. 2 X
$9.60 2,400 SH Puts X No. 1 X
$1.60 400 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Human Genome Sciences,
Inc.Put 11/115 Long Puts 444903108 $3.51 1,700 SH Puts X No. 2 X
$6.81 3,300 SH Puts X No. 1 X
$1.03 500 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Human Genome Sciences,
Inc.Put 11/120 Long Puts 444903108 $4.11 1,400 SH Puts X No. 2 X
$7.93 2,700 SH Puts X No. 1 X
$1.18 400 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Human Genome Sciences,
Inc.Put 11/125 Long Puts 444903108 $4.26 1,100 SH Puts X No. 2 X
$8.14 2,100 SH Puts X No. 1 X
$1.16 300 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Human Genome Sciences,
Inc.Put 11/130 Long Puts 444903108 $4.28 900 SH Puts X No. 2 X
$8.55 1,800 SH Puts X No. 1 X
$1.43 300 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Immunomedics, Inc.
Call 11/20 Long Calls 452907108 $8.00 2,000 SH Calls X No. 2 X
$17.20 4,300 SH Calls X No. 1 X
$2.00 500 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Immunomedics Inc.
Put 2/15 Long Puts 452907108 $19.24 8,100 SH Puts X No. 2 X
$36.58 15,400 SH Puts X No. 1 X
$5.94 2,500 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Immunomedics Inc.
Put 2/17.5 Long Puts 452907108 $17.81 3,700 SH Puts X No. 2 X
$34.65 7,200 SH Puts X No. 1 X
$5.29 1,100 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Immunomedics Inc.
Put 2/20 Long Puts 452907108 $19.21 5,300 SH Puts X No. 2 X
$36.61 10,100 SH Puts X No. 1 X
$5.80 1,600 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Immunomedics, Inc.
Call 11/22.5 Long Calls 452907108 $6.90 2,400 SH Calls X No. 2 X
$14.66 5,100 SH Calls X No. 1 X
$1.73 600 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Lilly Eli & Company
Call 1/85 Long Calls 532457108 $268.15 12,400 SH Calls X No. 2 X
$503.86 23,300 SH Calls X No. 1 X
$88.66 4,100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Lilly Eli & Company
Call 1/90 Long Calls 532457108 $267.15 13,700 SH Calls X No. 2 X
$508.95 26,100 SH Calls X No. 1 X
$85.80 4,400 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Lilly Eli & Company
Call 1/95 Long Calls 532457108 $274.95 15,600 SH Calls X No. 2 X
$526.99 29,900 SH Calls X No. 1 X
$82.84 4,700 SH Calls X X
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
-------------------------- -------------- --------- -------- -------- --- ---- ------- ------------ ------- -------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Lilly Eli & Company
Call 1/100 Long Calls 532457108 $284.16 17,900 SH Calls X No. 2 X
$528.64 33,300 SH Calls X No. 1 X
$87.31 5,500 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Maxim Pharm, Inc.
Call 3/55 Long Calls 57772M107 $62.19 3,100 SH Calls X No. 2 X
$118.37 5,900 SH Calls X No. 1 X
$20.06 1,000 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Maxim Pharm, Inc.
Call 3/60 Long Calls 57772M107 $63.22 3,500 SH Calls X No. 2 X
$122.83 6,800 SH Calls X No. 1 X
$19.87 1,100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Maxim Pharm, Inc.
Call 3/65 Long Calls 57772M107 $64.83 4,100 SH Calls X No. 2 X
$121.76 7,700 SH Calls X No. 1 X
$20.56 1,300 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Maxim Pharm Inc
Call 12/50 Long Calls 57772M107 $26.53 1,500 SH Calls X No. 2 X
$49.53 2,800 SH Calls X No. 1 X
$8.84 500 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Maxim Pharm Inc
Call 12/55 Long Calls 57772M107 $26.55 1,800 SH Calls X No. 2 X
$50.15 3,400 SH Calls X No. 1 X
$8.85 600 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Maxim Pharm Inc
Call 12/60 Long Calls 57772M107 $26.95 2,200 SH Calls X No. 2 X
$52.68 4,300 SH Calls X No. 1 X
$8.58 700 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Maxim Pharm Inc
Call 12/65 Long Calls 57772M107 $28.01 2,700 SH Calls X No. 2 X
$53.95 5,200 SH Calls X No. 1 X
$8.30 800 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Maxim Pharm Inc
Call 12/70 Long Calls 57772M107 $27.20 3,200 SH Calls X No. 2 X
$51.85 6,100 SH Calls X No. 1 X
$8.50 1,000 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Maxim Pharm Inc
Call 12/75 Long Calls 57772M107 $29.50 4,000 SH Calls X No. 2 X
$56.05 7,600 SH Calls X No. 1 X
$8.85 1,200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Maxim Pharm, Inc.
Call 3/70 Long Calls 57772M107 $60.95 4,600 SH Calls X No. 2 X
$117.93 8,900 SH Calls X No. 1 X
$18.55 1,400 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Maxim Pharm, Inc.
Call 3/75 Long Calls 57772M107 $62.94 5,300 SH Calls X No. 2 X
$119.94 10,100 SH Calls X No. 1 X
$19.00 1,600 SH Calls X X
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
-------------------------- -------------- --------- -------- -------- --- ---- ------- ------------ ------- -------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Millienium Pharma Inc.
Put 2/85 Long Puts 599902103 $5.69 1,400 SH Puts X No. 2 X
$10.97 2,700 SH Puts X No. 1 X
$1.63 400 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Millienium Pharma Inc.
Put 2/90 Long Puts 599902103 $5.57 1,100 SH Puts X No. 2 X
$10.63 2,100 SH Puts X No. 1 X
$1.52 300 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Millienium Pharma Inc.
Put 2/95 Long Puts 599902103 $5.79 900 SH Puts X No. 2 X
$11.59 1,800 SH Puts X No. 1 X
$1.93 300 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Millienium Pharma Inc.
Put 2/100 Long Puts 599902103 $6.20 800 SH Puts X No. 2 X
$11.63 1,500 SH Puts X No. 1 X
$1.55 200 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Millienium Pharma Inc.
Put 2/97.5 Long Puts 599902103 $3.99 2,200 SH Puts X No. 2 X
$7.43 4,100 SH Puts X No. 1 X
$1.27 700 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Millienium Pharma Inc.
Put 2/90 Long Puts 599902103 $4.39 3,700 SH Puts X No. 2 X
$8.55 7,200 SH Puts X No. 1 X
$1.31 1,100 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Millienium Pharma Inc.
Put 2/95 Long Puts 599902103 $3.28 2,500 SH Puts X No. 2 X
$6.17 4,700 SH Puts X No. 1 X
$1.05 800 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Millienium Pharma Inc.
Put 2/100 Long Puts 599902103 $3.92 1,900 SH Puts X No. 2 X
$7.22 3,500 SH Puts X No. 1 X
$1.24 600 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Millienium Pharma Inc.
Put 2/87.5 Long Puts 599902103 $3.94 4,200 SH Puts X No. 2 X
$7.50 8,000 SH Puts X No. 1 X
$1.22 1,300 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Millienium Pharma Inc.
Put 2/92.5 Long Puts 599902103 $4.46 3,100 SH Puts X No. 2 X
$8.48 5,900 SH Puts X No. 1 X
$1.44 1,000 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Nasdaq 100 Index Tracking
Stock Put 10/87 Long Puts 631100104 $322.86 112,300 SH Puts X No. 2 X
$621.00 216,000 SH Puts X No. 1 X
$100.05 34,800 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Nasdaq 100 Index Tracking
Stock Put 10/88 Long Puts 631100104 $270.08 83,100 SH Puts X No. 2 X
$518.70 159,600 SH Puts X No. 1 X
$83.53 25,700 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Nasdaq-100 Shares Put
11/87 Long Puts 4631100104 $33.30 7,400 SH Puts X No. 2 X
$63.45 14,100 SH Puts X No. 1 X
$10.80 2,400 SH Puts X X
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
-------------------------- -------------- --------- -------- -------- --- ---- ------- ------------ ------- -------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Nasdaq-100 Shares Put
11/88 Long Puts 631100104 $34.50 6,900 SH Puts X No. 2 X
$66.00 13,200 SH Puts X No. 1 X
$10.50 2,100 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Nasdaq-100 Shares Put
11/89 Long Puts 631100104 $34.65 6,300 SH Puts X No. 2 X
$66.55 12,100 SH Puts X No. 1 X
$10.45 1,900 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Nasdaq-100 Shares Put
11/90 Long Puts 631100104 $35.53 5,800 SH Puts X No. 2 X
$69.21 11,300 SH Puts X No. 1 X
$11.03 1,800 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Nasdaq-100 Shares Put
12/87 Long Puts 631100104 $30.88 5,200 SH Puts X No. 2 X
$59.38 10,000 SH Puts X No. 1 X
$9.50 1,600 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Nasdaq-100 Shares Put
12/88 Long Puts 631100104 $30.93 4,900 SH Puts X No. 2 X
$59.34 9,400 SH Puts X No. 1 X
$10.10 1,600 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Nasdaq-100 Shares Put
12/89 Long Puts 631100104 $32.02 4,700 SH Puts X No. 2 X
$60.63 8,900 SH Puts X No. 1 X
$9.54 1,400 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Nasdaq-100 Shares Put
12/90 Long Puts 631100104 $32.25 4,300 SH Puts X No. 2 X
$63.75 8,500 SH Puts X No. 1 X
$9.75 1,300 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Nasdaq-100 Shares Put
12/91 Long Puts 631100104 $30.50 4,000 SH Puts X No. 2 X
$59.48 7,800 SH Puts X No. 1 X
$9.91 1,300 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Nasdaq-100 Shares Put
11/70 Long Puts 631100104 $28.50 38,000 SH Puts X No. 2 X
$54.68 72,900 SH Puts X No. 1 X
$8.78 11,700 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Nasdaq-100 Shares Put
11/71 Long Puts 631100104 $26.41 32,500 SH Puts X No. 2 X
$50.78 62,500 SH Puts X No. 1 X
$8.21 10,100 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Nasdaq-100 Shares Put
11/72 Long Puts 631100104 $26.73 29,500 SH Puts X No. 2 X
$51.11 56,400 SH Puts X No. 1 X
$8.34 9,200 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Nasdaq-100 Shares Put
11/73 Long Puts 631100104 $29.36 26,100 SH Puts X No. 2 X
$56.36 50,100 SH Puts X No. 1 X
$9.11 8,100 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Nasdaq-100 Index Trading
Stock Put 11/84 Long Puts 631100104 $81.03 46,300 SH Puts X No. 2 X
$155.58 88,900 SH Puts X No. 1 X
$25.03 14,300 SH Puts X X
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
-------------------------- -------------- --------- -------- -------- --- ---- ------- ------------ ------- -------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Nasdaq-100 Index Trading
Stock Put 11/85 Long Puts 631100104 $132.00 64,000 SH Puts X No. 2 X
$253.28 122,800 SH Puts X No. 1 X
$40.84 19,800 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Nasdaq-100 Index Trading
Stock Put 11/86 Long Puts 631100104 $91.16 37,400 SH Puts X No. 2 X
$175.26 71,900 SH Puts X No. 1 X
$28.28 11,600 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Nasdaq-100 Shares Put 10/74 Long Puts 631100104 $20.50 65,600 SH Puts X No. 2 X
$39.41 126,100 SH Puts X No. 1 X
$6.34 20,300 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Nasdaq-100 Shares Put 10/75 Long Puts 631100104 $21.90 58,400 SH Puts X No. 2 X
$41.96 111,900 SH Puts X No. 1 X
$6.79 18,100 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Nasdaq-100 Shares Put 10/76 Long Puts 631100104 $22.97 52,500 SH Puts X No. 2 X
$44.14 100,900 SH Puts X No. 1 X
$7.09 16,200 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Nasdaq-100 Shares Put 10/77 Long Puts 631100104 $24.00 48,000 SH Puts X No. 2 X
$46.10 92,200 SH Puts X No. 1 X
$7.45 14,900 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Nasdaq-100 Shares Put 10/78 Long Puts 631100104 $25.56 40,900 SH Puts X No. 2 X
$49.19 78,700 SH Puts X No. 1 X
$7.81 12,500 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Nasdaq-100 Shares Put 10/79 Long Puts 631100104 $28.60 35,200 SH Puts X No. 2 X
$54.76 67,400 SH Puts X No. 1 X
$8.94 11,000 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Nasdaq-100 Shares Put 10/80 Long Puts 631100104 $30.90 30,900 SH Puts X No. 2 X
$59.30 59,300 SH Puts X No. 1 X
$9.60 9,600 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Nasdaq-100 Shares Put 10/81 Long Puts 631100104 $33.61 28,300 SH Puts X No. 2 X
$64.72 54,500 SH Puts X No. 1 X
$10.33 8,700 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Nasdaq-100 Shares Put 10/82 Long Puts 631100104 $32.16 24,500 SH Puts X No. 2 X
$62.08 47,300 SH Puts X No. 1 X
$9.98 7,600 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Nasdaq 100 Index Tracking
Stock Put 10/89 Long Puts 631100104 $334.50 89,200 SH Puts X No. 2 X
$643.50 171,600 SH Puts X No. 1 X
$103.50 27,600 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Nasdaq 100 Index Tracking
Stock Put 10/90 Long Puts 631100104 $180.63 42,500 SH Puts X No. 2 X
$348.08 81,900 SH Puts X No. 1 X
$56.10 13,200 SH Puts X X
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
-------------------------- -------------- --------- -------- -------- --- ---- ------- ------------ ------- -------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Nasdaq 100 Index Tracking
Stock Put 10/91 Long Puts 631100104 $108.71 22,300 SH Puts X No. 2 X
$207.68 42,600 SH Puts X No. 1 X
$33.64 6,900 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Pharmacia Corp Call 1/65 Long Calls 717134102 $112.39 8,100 SH Calls X No. 2 X
$213.68 15,400 SH Calls X No. 1 X
$33.30 2,400 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Pharmacia Corp Call 1/70 Long Calls 717134102 $110.40 9,200 SH Calls X No. 2 X
$217.20 18,100 SH Calls X No. 1 X
$34.80 2,900 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Pharmacia Corp Call 1/75 Long Calls 717134102 $113.09 10,900 SH Calls X No. 2 X
$219.95 21,200 SH Calls X No. 1 X
$35.28 3,400 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Protein Design Labs Inc,
Call 11/42.5 Long Calls 74369L103 $54.69 700 SH Calls X No. 2 X
$125.00 1,600 SH Calls X No. 1 X
$15.63 200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Protein Design Labs Inc,
Call 11/45 Long Calls 74369L103 $52.94 700 SH Calls X No. 2 X
$166.38 2,200 SH Calls X No. 1 X
$0.00 0 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Protein Design Labs Inc,
Call 11/47.5 Long Calls 74369L103 $51.19 700 SH Calls X No. 2 X
$175.50 2,400 SH Calls X No. 1 X
$0.00 0 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Protein Design Labs Inc,
Call 11/50 Long Calls 74369L103 $63.68 900 SH Calls X No. 2 X
$162.73 2,300 SH Calls X No. 1 X
$0.00 0 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Protein Design Labs, Inc.
Call 11/32.5 Long Calls 74369L103 $281.60 3,200 SH Calls X No. 2 X
$651.20 7,400 SH Calls X No. 1 X
$61.60 700 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Protein Design Labs, Inc.
Call 11/35 Long Calls 74369L103 $273.60 3,200 SH Calls X No. 2 X
$632.70 7,400 SH Calls X No. 1 X
$59.85 700 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Protein Design Labs, Inc.
Call 11/37.5 Long Calls 74369L103 $265.60 3,200 SH Calls X No. 2 X
$614.20 7,400 SH Calls X No. 1 X
$58.10 700 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Protein Design Labs, Inc.
Call 11/40 Long Calls 74369L103 $257.60 3,200 SH Calls X No. 2 X
$595.70 7,400 SH Calls X No. 1 X
$56.35 700 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Protein Design Labs Inc,
Call 11/52.5 Long Calls 74369L103 $75.08 1,100 SH Calls X No. 2 X
$170.63 2,500 SH Calls X No. 1 X
$0.00 0 SH Calls X X
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
-------------------------- -------------- --------- -------- -------- --- ---- ------- ------------ ------- -------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Schering Plough Corp
Call 1/30 Long Calls 806605101 $342.34 15,300 SH Calls X No. 2 X
$671.25 30,000 SH Calls X No. 1 X
$98.45 4,400 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Schering Plough Corp
Call 1/35 Long Calls 806605101 $349.99 18,300 SH Calls X No. 2 X
$648.34 33,900 SH Calls X No. 1 X
$110.93 5,800 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Schering Plough Corp
Call 1/40 Long Calls 806605101 $356.78 21,300 SH Calls X No. 2 X
$666.65 39,800 SH Calls X No. 1 X
$118.93 7,100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Schering Plough Corp
Call 1/45 Long Calls 806605101 $359.38 25,000 SH Calls X No. 2 X
$677.06 47,100 SH Calls X No. 1 X
$109.25 7,600 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Schering Plough Corp
Call 1/50 Long Calls 806605101 $363.83 29,400 SH Calls X No. 2 X
$685.58 55,400 SH Calls X No. 1 X
$108.90 8,800 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Schering Plough Corp
Call 1/55 Long Calls 806605101 $368.73 34,300 SH Calls X No. 2 X
$692.30 64,400 SH Calls X No. 1 X
$108.58 10,100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Schering Plough Corp
Call 1/60 Long Calls 806605101 $383.08 39,800 SH Calls X No. 2 X
$718.99 74,700 SH Calls X No. 1 X
$121.28 12,600 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
---------------
$1,162,376.02
===============
</TABLE>
