UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: June 30, 1999
Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: BNP/Cooper Neff Advisors, Inc.
Address: 555 Croton Road, 4th Floor
King of Prussia, PA 19406
13F File Number: 28-5262
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: Catherine J. Beckett
Title: Chief Financial Officer
Phone: 610-491-1596
Signature, Place, and Date of Signing:
Catherine J. Beckett
King of Prussia, PA
August 6, 1999
Report Type (Check only one.):
[ X] 13F HOLDINGS REPORT. (Check here if all holdings of
this reporting manager are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in
this report, and all holdings are reported by other
reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the
holdings for this reporting manager are reported in this
report and a portion are reported by other reporting
managers(s).)
List of Other Managers Reporting for this Manager:
**NONE**
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: 0
Form 13F Information Table Entry Total: 263
Form 13F Information Table Value Total: 1236721
List of Other Included Managers:
No. 13F File Number Name
**NONE**
<PAGE>
<TABLE>
<CAPTION>
Manager: BNP/Cooper Neff Advisors, Inc. Period End Date: June 30, 1999 Page 1 of 5
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
- ------------------------------ ------------------ --------- --------- ------------------ ------- -------- ---------------------
Value Shrs or SH/ PUT/ Other
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>
A T & T CORP COM 001957109 6876 123200 SH SOLE 123200 0 0
A T & T CORP COM 001957109 16353 293000 SH PUT SOLE 293000 0 0
A T & T CORP COM 001957109 4744 85000 SH CALL SOLE 85000 0 0
ABBOTT LABORATORIES COM 002824100 368 8100 SH SOLE 8100 0 0
ADELPHIA COMMUNICATIONS PFD CV 006848402 913 4700 SH SOLE 4700 0 0
ADOBE SYSTEMS INC COM 00724F101 238 2900 SH SOLE 2900 0 0
ADVANCED MICRO DEVICES INC COM 007903107 219 12100 SH SOLE 12100 0 0
ADVANCED MICRO DEVICES INDUSTR BOND CV 007903AC1 429 550000 PRN SOLE 0 0 0
AFFILIATED COMPUTER SVCS BOND CV 008190AD2 8301 6150000 PRN SOLE 0 0 0
AIRTOUCH COMMUNICATIONS INC COM 00949T100 1077 10000 SH SOLE 10000 0 0
AIRTOUCH COMMUNICATIONS INC PFD CV 00949T209 2061 23700 SH SOLE 23700 0 0
ALLSTATE CORP COM 020002101 456 12700 SH SOLE 12700 0 0
ALPHARMA INC 144A PRVT PLCT BOND CV 020813AC5 5855 4700000 PRN SOLE 0 0 0
ALPHARMA INC CONV 144A PVT PLC BOND CV 020813AA9 6567 4750000 PRN SOLE 0 0 0
ALPHARMA INC CONV SUB NOTES BOND CV 020813AB7 691 500000 PRN SOLE 0 0 0
AMAZON COMM INC COM 023135106 626 5000 SH CALL SOLE 5000 0 0
AMAZON.COM INC CONV SUB NTS 14 BOND CV 023135AD8 2914 3000000 PRN SOLE 0 0 0
AMERICA ONLINE INC COM 02364J104 6600 60000 SH PUT SOLE 60000 0 0
AMERICA ONLINE INC COM 02364J104 572 5200 SH SOLE 5200 0 0
AMERICA ONLINE INC COM 02364J104 21450 195000 SH CALL SOLE 195000 0 0
AMERICAN EXPRESS CO COM 025816109 13013 100000 SH PUT SOLE 100000 0 0
AMERICAN EXPRESS CO COM 025816109 6311 48500 SH SOLE 48500 0 0
AMERICAN EXPRESS CO COM 025816109 13013 100000 SH CALL SOLE 100000 0 0
AMERICAN GREETINGS CORP COM 026375105 452 15000 SH CALL SOLE 15000 0 0
AMERICAN GREETINGS CORP COM 026375105 452 15000 SH PUT SOLE 15000 0 0
AMERICAN HOME PRODUCTS CORP COM 026609107 631 11000 SH SOLE 11000 0 0
AMERICAN INTL GROUP INC COM 026874107 985 8400 SH SOLE 8400 0 0
AMERICAN RETIREMENT CORP CONV. BOND CV 028913AA9 603 770000 PRN SOLE 0 0 0
AMERITECH CORPORATION COM 030954101 823 11200 SH SOLE 11200 0 0
AMGEN INC COM 031162100 676 11100 SH SOLE 11100 0 0
AMKOR TECHNOLOGIES INC BOND CV 031652AA8 2364 2335000 PRN SOLE 0 0 0
AMR CORP COM 001765106 218 3200 SH SOLE 3200 0 0
APPLE COMPUTER INC COM 037833100 1853 40000 SH CALL SOLE 40000 0 0
APPLE COMPUTER INC COM 037833100 926 20000 SH SOLE 20000 0 0
APPLE COMPUTER INC COM 037833100 4631 100000 SH PUT SOLE 100000 0 0
AVRION CONV SUB NOTES BOND CV 053762AC4 4813 4430000 PRN SOLE 0 0 0
BANK OF AMERICA CORP COM 060505104 704 9600 SH SOLE 9600 0 0
BANK ONE CORP COM 06423A103 4169 70000 SH PUT SOLE 70000 0 0
BANK ONE CORP COM 06423A103 4169 70000 SH CALL SOLE 70000 0 0
BARRICKS GOLD CORP. COM 067901108 3875 200000 SH CALL SOLE 200000 0 0
BARRICKS GOLD CORP. COM 067901108 969 50000 SH PUT SOLE 50000 0 0
BAXTER INTERNATIONAL INC COM 071813109 1516 25000 SH CALL SOLE 25000 0 0
BAXTER INTERNATIONAL INC COM 071813109 473 7800 SH SOLE 7800 0 0
BEA SYSTEMS INC INDS 144A NTS BOND CV 073325AA0 11392 9425000 PRN SOLE 0 0 0
BEAR STEARNS COS INC COM 073902108 468 10000 SH CALL SOLE 10000 0 0
BEAR STEARNS COS INC COM 073902108 402 8600 SH SOLE 8600 0 0
BEAR STEARNS COS INC COM 073902108 468 10000 SH PUT SOLE 10000 0 0
BELL ATLANTIC COM 077853109 1386 21200 SH SOLE 21200 0 0
BELL ATLANTIC COM 077853109 9806 150000 SH PUT SOLE 150000 0 0
BELL ATLANTIC FINL SERV 144A P BOND CV 07785GAB6 259 250000 PRN SOLE 0 0 0
BELL ATLANTIC FINL SERV EXCH N BOND CV 07785GAC4 7830 7500000 PRN SOLE 0 0 0
BELLSOUTH CORP COM 079860102 733 15900 SH SOLE 15900 0 0
BLACK & DECKER MANUFACTURING COM 091797100 11741 186000 SH CALL SOLE 186000 0 0
<PAGE>
<CAPTION>
Manager: BNP/Cooper Neff Advisors, Inc. Period End Date: June 30, 1999 Page 2 of 5
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
- ------------------------------ ------------------ --------- --------- ------------------ ------- -------- ---------------------
Value Shrs or SH/ PUT/ Other
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>
BLACK & DECKER MANUFACTURING COM 091797100 9216 146000 SH PUT SOLE 146000 0 0
BOEING CO COM 097023105 11000 250000 SH PUT SOLE 250000 0 0
BOEING CO COM 097023105 1232 28000 SH SOLE 28000 0 0
BOEING CO COM 097023105 4400 100000 SH CALL SOLE 100000 0 0
BURLINGTON NORTHERN SANTE FE COM 12189T104 254 8200 SH SOLE 8200 0 0
CANADIAN NATL RAILWA Y CO 5.25 PFD CV 136375409 3260 60800 SH SOLE 60800 0 0
CANDESCENT TECH CORP CONV DEBE BOND CV 137392AA4 1000 1000000 PRN SOLE 0 0 0
CAREMATRIX CORP CONV SUB NOTES BOND CV 141706AA9 1750 2500000 PRN SOLE 0 0 0
CATERPILLAR INC COM 149123101 5022 83700 SH PUT SOLE 83700 0 0
CATERPILLAR INC COM 149123101 492 8200 SH SOLE 8200 0 0
CBS CORP COM 12490K107 597 13700 SH SOLE 13700 0 0
CENTOCOR INC CONV BOND BOND CV 152342AE1 2816 2500000 PRN SOLE 0 0 0
CENTOCOR INC CONV SUB DEBS 144 BOND CV 152342AC5 563 500000 PRN SOLE 0 0 0
CHARLES SCHWAB CORP NEW COM 808513105 480 4400 SH SOLE 4400 0 0
CHASE MANHATTAN CORP NEW COM 16161A108 407 4700 SH SOLE 4700 0 0
CHEVRON CORPORATION COM 166751107 1017 10700 SH SOLE 10700 0 0
CISCO SYS INC COM 17275R102 17398 270000 SH PUT SOLE 270000 0 0
CISCO SYS INC COM 17275R102 20105 312000 SH CALL SOLE 312000 0 0
CITIGROUP INC COM 172967101 7125 150000 SH PUT SOLE 150000 0 0
CITIGROUP INC COM 172967101 7125 150000 SH CALL SOLE 150000 0 0
CMGI INC COM 125750109 331 2900 SH SOLE 2900 0 0
CMGI INC COM 125750109 570 5000 SH CALL SOLE 5000 0 0
CNB CAPITAL TR I 6.0% CONV PFD PFD CV 12613G207 728 23700 SH SOLE 23700 0 0
CNET INC SERIES 144A BOND CV 125945AA3 1691 1000000 PRN SOLE 0 0 0
COCA COLA CO COM 191216100 5952 96000 SH SOLE 96000 0 0
COCA COLA CO COM 191216100 6200 100000 SH PUT SOLE 100000 0 0
COLTEC CAPITAL TRUST 5.25% CON PFD CV 196878409 234 5000 SH SOLE 5000 0 0
COMPAQ COMPUTER CORP COM 204493100 3790 160000 SH CALL SOLE 160000 0 0
COMPAQ COMPUTER CORP COM 204493100 5922 250000 SH PUT SOLE 250000 0 0
COMPAQ COMPUTER CORP COM 204493100 1298 54800 SH SOLE 54800 0 0
CONEXANT SYS INC SERIES CONV 1 BOND CV 207142AA8 7973 5600000 PRN SOLE 0 0 0
DELL COMPUTER COM 247025109 13690 370000 SH CALL SOLE 370000 0 0
DELL COMPUTER COM 247025109 4440 120000 SH PUT SOLE 120000 0 0
DELPHI AUTOMOTIVE SYSTEMS COM 247126105 296 15986 SH SOLE 15986 0 0
DISNEY WALT CO COM 254687106 924 30000 SH CALL SOLE 30000 0 0
DISNEY WALT CO COM 254687106 2012 65300 SH SOLE 65300 0 0
DISNEY WALT CO COM 254687106 4006 130000 SH PUT SOLE 130000 0 0
DOUBLECLICK INC CONV 144A BOND CV 258609AA4 11359 9000000 PRN SOLE 0 0 0
DU PONT E I DE NEMOURS & CO COM 263534109 6237 91300 SH SOLE 91300 0 0
E M C CORP MASS COM 268648102 275 5000 SH CALL SOLE 5000 0 0
EASTMAN KODAK COMPANY COM 277461109 312 4600 SH SOLE 4600 0 0
EASTMAN KODAK COMPANY COM 277461109 9248 136500 SH CALL SOLE 136500 0 0
EASTMAN KODAK COMPANY COM 277461109 10535 155500 SH PUT SOLE 155500 0 0
ELI LILLY & COMPANY COM 532457108 609 8500 SH SOLE 8500 0 0
EMCOR GROUP INC CONV NOTES BOND CV 29084QAC4 2186 2000000 PRN SOLE 0 0 0
ERICSSON L M TEL CO ADR CL B COM 294821400 481 14600 SH SOLE 14600 0 0
EXODUS COMMUNICATION INC SERIE BOND CV 302088AC3 2843 1050000 PRN SOLE 0 0 0
EXXON CORP COM 302290101 19281 250000 SH PUT SOLE 250000 0 0
EXXON CORP COM 302290101 19281 250000 SH CALL SOLE 250000 0 0
FDX CORP COM 31304N107 1085 20000 SH PUT SOLE 20000 0 0
FDX CORP COM 31304N107 1085 20000 SH CALL SOLE 20000 0 0
FEDERAL HOME LOAN MTG CORP COM 313400301 5800 100000 SH CALL SOLE 100000 0 0
FEDERAL HOME LOAN MTG CORP COM 313400301 8700 150000 SH PUT SOLE 150000 0 0
<PAGE>
<CAPTION>
Manager: BNP/Cooper Neff Advisors, Inc. Period End Date: June 30, 1999 Page 3 of 5
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
- ------------------------------ ------------------ --------- --------- ------------------ ------- -------- ---------------------
Value Shrs or SH/ PUT/ Other
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>
FEDERAL HOME LOAN MTG CORP COM 313400301 6542 112800 SH SOLE 112800 0 0
FEDERAL NATIONAL MORTGAGE COM 313586109 833 12200 SH SOLE 12200 0 0
FIN FED CORP CONV 144A PRIV PL BOND CV 317492AA4 2234 2350000 PRN SOLE 0 0 0
FLEETWOOD CAP TRUST 6.00% PRFD PFD CV 339072407 1389 33235 SH SOLE 33235 0 0
FORD MOTOR COMPANY COM 345370100 497 8800 SH SOLE 8800 0 0
GATEWAY 2000 INC COM 367833100 2953 50000 SH CALL SOLE 50000 0 0
GATEWAY 2000 INC COM 367833100 2953 50000 SH PUT SOLE 50000 0 0
GENERAL ELECTRIC COMPANY COM 369604103 4520 40000 SH PUT SOLE 40000 0 0
GENERAL ELECTRIC COMPANY COM 369604103 3164 28000 SH SOLE 28000 0 0
GENERAL MILLS INCORPORATED COM 370334104 4549 56600 SH SOLE 56600 0 0
GENERAL MTRS CORP COM 370442105 244 3700 SH SOLE 3700 0 0
GENZYME CORP 144A PVT PLCMT BOND CV 372917AE4 7188 5135000 PRN SOLE 0 0 0
GETTY IMAGES INC INDS PRIV PLC BOND CV 374276AA1 634 700000 PRN SOLE 0 0 0
GILAT SATELLITE NETWORKS BOND CV 375255AB2 715 518000 PRN SOLE 0 0 0
GILLETTE COMPANY COM 375766102 1743 42500 SH CALL SOLE 42500 0 0
GILLETTE COMPANY COM 375766102 13838 337500 SH PUT SOLE 337500 0 0
GILLETTE COMPANY COM 375766102 11443 279100 SH SOLE 279100 0 0
GLOBAL TELESYSTEMS GROUP CONVE BOND CV 37936UAE4 394 250000 PRN SOLE 0 0 0
GTE CORPORATION COM 362320103 831 11000 SH SOLE 11000 0 0
H.J.HEINZ COMPANY COM 423074103 2256 45000 SH CALL SOLE 45000 0 0
H.J.HEINZ COMPANY COM 423074103 987 19700 SH SOLE 19700 0 0
H.J.HEINZ COMPANY COM 423074103 3509 70000 SH PUT SOLE 70000 0 0
HEWLETT-PACKARD INCORPORATED COM 428236103 683 6800 SH SOLE 6800 0 0
HOME DEPOT INCORPORATED COM 437076102 1179 18300 SH SOLE 18300 0 0
HUTCHINSON TECH INC CONV SUB N BOND CV 448407AC0 2345 2000000 PRN SOLE 0 0 0
INTEL CORP COM 458140100 13388 225000 SH CALL SOLE 225000 0 0
INTEL CORP COM 458140100 18754 315200 SH PUT SOLE 315200 0 0
INTEL CORP COM 458140100 6468 108700 SH SOLE 108700 0 0
INTERNATIONAL PAPER COMPANY COM 460146103 1422 28300 SH SOLE 28300 0 0
INTERNATIONAL PAPER COMPANY COM 460146103 5276 105000 SH PUT SOLE 105000 0 0
INTL BUSINESS MACHINES INC COM 459200101 40843 316000 SH CALL SOLE 316000 0 0
INTL BUSINESS MACHINES INC COM 459200101 75999 588000 SH PUT SOLE 588000 0 0
ITC DELTA COM CONV SUB NTS 144 BOND CV 45031TAJ3 3090 2500000 PRN SOLE 0 0 0
JOHNSON & JOHNSON INCORPORATE COM 478160104 5880 60000 SH CALL SOLE 60000 0 0
JOHNSON & JOHNSON INCORPORATE COM 478160104 34300 350000 SH PUT SOLE 350000 0 0
K MART CORPORATION COM 482584109 246 14900 SH SOLE 14900 0 0
KELLSTROM INDS INC CONV SUB NO BOND CV 488035AC0 1519 1680000 PRN SOLE 0 0 0
KOREA ELECTRIC POWER CONVERTIB BOND CV 500631AF3 1133 1150000 PRN SOLE 0 0 0
LEHMAN BROTHERS HLDGS INC COM 524908100 1727 27800 SH SOLE 27800 0 0
LEHMAN BROTHERS HLDGS INC COM 524908100 6244 100500 SH PUT SOLE 100500 0 0
LEHMAN BROTHERS HLDGS INC COM 524908100 5125 82500 SH CALL SOLE 82500 0 0
LIMITED INCORPORATED COM 532716107 521 11478 SH SOLE 11478 0 0
LSI LOGIC CORP 144A PRV PLCMT BOND CV 502161AB8 406 250000 PRN SOLE 0 0 0
LSI LOGIC CORPORATION COM 502161102 8533 185000 SH PUT SOLE 185000 0 0
LSI LOGIC CORPORATION COM 502161102 3921 85000 SH CALL SOLE 85000 0 0
LUCENT TECHNOLGY COM 549463107 1246 18480 SH SOLE 18480 0 0
MAYTAG COMPANY COM 578592107 4943 70800 SH SOLE 70800 0 0
MAYTAG COMPANY COM 578592107 17453 250000 SH PUT SOLE 250000 0 0
MCDONALDS CORPORATION COM 580135101 4113 100000 SH CALL SOLE 100000 0 0
MCDONALDS CORPORATION COM 580135101 4113 100000 SH PUT SOLE 100000 0 0
MCI WORLDCOM INC COM 55268B106 8606 100000 SH PUT SOLE 100000 0 0
MCI WORLDCOM INC COM 55268B106 17213 200000 SH CALL SOLE 200000 0 0
MEDTRONIC INCORPORATED COM 585055106 241 3100 SH SOLE 3100 0 0
<PAGE>
<CAPTION>
Manager: BNP/Cooper Neff Advisors, Inc. Period End Date: June 30, 1999 Page 4 of 5
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
- ------------------------------ ------------------ --------- --------- ------------------ ------- -------- ---------------------
Value Shrs or SH/ PUT/ Other
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>
MERCK & CO. INC COM 589331107 3681 50000 SH CALL SOLE 50000 0 0
MERCK & CO. INC COM 589331107 3681 50000 SH PUT SOLE 50000 0 0
MERCK & CO. INC COM 589331107 2356 32000 SH SOLE 32000 0 0
MERRILL LYNCH & CO INC COM 590188108 8944 112500 SH CALL SOLE 112500 0 0
MERRILL LYNCH & CO INC COM 590188108 6082 76500 SH SOLE 76500 0 0
MERRILL LYNCH & CO INC COM 590188108 9341 117500 SH PUT SOLE 117500 0 0
MICRON TECHNOLOGY INC COM 595112103 608 15000 SH CALL SOLE 15000 0 0
MICRON TECHNOLOGY INC COM 595112103 608 15000 SH PUT SOLE 15000 0 0
MICRON TECHNOLOGY INC COM 595112103 296 7300 SH SOLE 7300 0 0
MICROSOFT CORP COM 594918104 28184 312500 SH CALL SOLE 312500 0 0
MICROSOFT CORP COM 594918104 48701 540000 SH PUT SOLE 540000 0 0
MICROSOFT CORP COM 594918104 3144 34860 SH SOLE 34860 0 0
MINDSPRING ENTERPRIS ES CONVRE BOND CV 602683AA2 3979 4110000 PRN SOLE 0 0 0
MINNESOTA MINING & MFG CO COM 604059105 982 11300 SH SOLE 11300 0 0
MOBIL CORPORATION COM 607059102 879 8900 SH SOLE 8900 0 0
MONSANTO COMPANY COM 611662107 435 11000 SH SOLE 11000 0 0
MORGAN ST DEAN WITTER DISCOVE COM 617446448 328 3200 SH SOLE 3200 0 0
MOTOROLA INCORPORATED COM 620076109 9286 98000 SH PUT SOLE 98000 0 0
MOTOROLA INCORPORATED COM 620076109 9286 98000 SH CALL SOLE 98000 0 0
MRV COMMUNICATIONS INC BOND CV 553477AA8 749 1000000 PRN SOLE 0 0 0
NAB EXCHANGE PREF TRUST PFD CV 628714206 341 13700 SH SOLE 13700 0 0
NABISCO GROUP HOLDINGS COM 62952P102 282 14400 SH SOLE 14400 0 0
NABISCO GROUP HOLDINGS COM 62952P102 978 50000 SH PUT SOLE 50000 0 0
NASDAQ 100 COM 631100104 864 7500 SH CALL SOLE 7500 0 0
NCS HEALTHCARE 5.75% CONV STK BOND CV 628874AC3 1570 3150000 PRN SOLE 0 0 0
NCS HEALTHCARE INC PVT PLCMT 1 BOND CV 628874AA7 823 1650000 PRN SOLE 0 0 0
NET.B@NK 4.75% DUE 6/1/2004 BOND CV 64107JAA4 3103 2500000 PRN SOLE 0 0 0
NEXTAR PHARM SUN DEB CONV BOND CV 65333BAC0 3923 3000000 PRN SOLE 0 0 0
NEXTEL COMMUNICATION S CONV SR BOND CV 65332VAR4 9484 7750000 PRN SOLE 0 0 0
NEXTEL COMMUNICATIONS INC CL COM 65332V103 216 4300 SH SOLE 4300 0 0
NIKE INCORPORATED CLASS B COM 654106103 6338 100000 SH PUT SOLE 100000 0 0
NIKE INCORPORATED CLASS B COM 654106103 6338 100000 SH CALL SOLE 100000 0 0
NORTEL NETWORKS CORP COM 656569100 425 4900 SH SOLE 4900 0 0
NOVELL INC COM 670006105 265 10000 SH PUT SOLE 10000 0 0
NOVELL INC COM 670006105 350 13200 SH SOLE 13200 0 0
NTL INCORPORATED 144A CONV NOT BOND CV 629407AK3 1575 1000000 PRN SOLE 0 0 0
OAK IDUSTRIES INC INDS CONV SU BOND CV 671400AL3 1274 990000 PRN SOLE 0 0 0
ORACLE SYSTEMS CORP COM 68389X105 3527 95000 SH PUT SOLE 95000 0 0
ORACLE SYSTEMS CORP COM 68389X105 923 24850 SH SOLE 24850 0 0
ORACLE SYSTEMS CORP COM 68389X105 3156 85000 SH CALL SOLE 85000 0 0
OWENS & MINOR TRI PRFD CONV PFD CV 690905203 749 20000 SH SOLE 20000 0 0
OWENS & MINOR TRUST I PFD CV 690905302 1702 45421 SH SOLE 45421 0 0
PEPSICO INCORPORATED COM 713448108 7738 200000 SH CALL SOLE 200000 0 0
PEPSICO INCORPORATED COM 713448108 1083 28000 SH SOLE 28000 0 0
PEPSICO INCORPORATED COM 713448108 7738 200000 SH PUT SOLE 200000 0 0
PFIZER INCORPORATED COM 717081103 1057 9700 SH SOLE 9700 0 0
PHARMACIA & UPJOHN INC COM 716941109 642 11300 SH SOLE 11300 0 0
PHILIP MORRIS COS INC COM 718154107 2885 71800 SH SOLE 71800 0 0
PHILIP MORRIS COS INC COM 718154107 2009 50000 SH CALL SOLE 50000 0 0
PHILIP MORRIS COS INC COM 718154107 6028 150000 SH PUT SOLE 150000 0 0
PIONEER STANDARD ELECTRO PFD CV 723879300 1508 31273 SH SOLE 31273 0 0
POGO TRUST I 6.50% DUE 6/1/202 PFD CV 73044P208 609 11900 SH SOLE 11900 0 0
PROGRESSIVE CORP (OHIO) COM 743315103 551 3800 SH SOLE 3800 0 0
<PAGE>
<CAPTION>
Manager: BNP/Cooper Neff Advisors, Inc. Period End Date: June 30, 1999 Page 5 of 5
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
- ------------------------------ ------------------ --------- --------- ------------------ ------- -------- ---------------------
Value Shrs or SH/ PUT/ Other
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>
PROLOGIS TRUST 7.00% SER B PRF PFD CV 743410300 431 16600 SH SOLE 16600 0 0
PSINET INC. 3.375% CONV PFD ST PFD CV 74437C309 4082 89500 SH SOLE 89500 0 0
QUADRAMED CORP CONV BOND CV 74730WAC5 578 1000000 PRN SOLE 0 0 0
QUALCOMM FIANANCIAL TRUST 5.75 PFD CV 74752R402 732 3635 SH SOLE 3635 0 0
RES-CARE INC CONV SUB NOTES BOND CV 760943AC4 4680 3585000 PRN SOLE 0 0 0
RES-CARE INC PRV PLCT 144A BOND CV 760943AA8 979 750000 PRN SOLE 0 0 0
SABRATEK CORP CONV 144A PRIV BOND CV 78572EAA1 1992 2700000 PRN SOLE 0 0 0
SABRATEK CORP CONVER NOTES BOND CV 78571UAA6 1107 1500000 PRN SOLE 0 0 0
SAFEGUARD SCIENTIFIC PRIV PLMN BOND CV 786449AD0 7166 7000000 PRN SOLE 0 0 0
SBC COMMUNICATIONS INC COM 78387G103 766 13200 SH SOLE 13200 0 0
SCHERING-PLOUGH CORP COM 806605101 504 9600 SH SOLE 9600 0 0
SCHLUMBERGER LIMITED COM 806857108 1579 24800 SH SOLE 24800 0 0
SEAGATE TECHNOLOGY INC COM 811804103 1799 70200 SH SOLE 70200 0 0
SEAGATE TECHNOLOGY INC COM 811804103 3844 150000 SH PUT SOLE 150000 0 0
SEALED AIR CORP CONVERTIBLE PFD CV 81211K209 11697 187900 SH SOLE 187900 0 0
SEARS ROEBUCK & COMPANY COM 812387108 4456 100000 SH CALL SOLE 100000 0 0
SEARS ROEBUCK & COMPANY COM 812387108 13725 308000 SH PUT SOLE 308000 0 0
SEARS ROEBUCK & COMPANY COM 812387108 5677 127400 SH SOLE 127400 0 0
SECURITY CAP US REALTY CONV 14 BOND CV 814136AA5 405 500000 PRN SOLE 0 0 0
SENSORMATIC ELECTRON ICS 6.50% PFD CV 817265200 1626 72200 SH SOLE 72200 0 0
SL GREEN CORP PFRD INCOME EQUI PFD CV 78440X200 545 24200 SH SOLE 24200 0 0
SOUTHERN PAC FUNDING CONV SUB BOND CV 843576AA7 35 235000 PRN SOLE 0 0 0
SPORTSLINE USA INC CONV 144A BOND CV 848934AA3 5651 7500000 PRN SOLE 0 0 0
SUIZA CAP TRUST II 5.50% CONV PFD CV 86507G200 834 21465 SH SOLE 21465 0 0
SUN MICROSYSTEMS INC COM 866810104 4477 65000 SH PUT SOLE 65000 0 0
SUN MICROSYSTEMS INC COM 866810104 6888 100000 SH CALL SOLE 100000 0 0
SUN MICROSYSTEMS INC COM 866810104 1908 27700 SH SOLE 27700 0 0
TELEFONOS DE MEXICO S.A. BOND CV 879403AD5 6217 6000000 PRN SOLE 0 0 0
TELLABS INCORPORATED COM 879664100 263 3900 SH SOLE 3900 0 0
THE AES CORPORATION CONV JR SU BOND CV 00130HAN5 2292 1832000 PRN SOLE 0 0 0
TIME WARNER INC COM 887315109 886 12200 SH SOLE 12200 0 0
TOWER AUTOMOTIVE INC SUB NOTES BOND CV 891707AE1 6022 5250000 PRN SOLE 0 0 0
TXI CAPITAL TRUST I SPECIAL PU PFD CV 873119200 2697 68000 SH SOLE 68000 0 0
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