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, 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: Westcap Investors, LLC
Address: 11111 Santa Monica Blvd.
Suite 820
Los Angeles, CA 90025
13F File Number: 28-5420
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: Geoffrey I. Edelstein
Title: Managing Director
Phone: (310) 996-3234
Signature, Place, and Date of Signing:
Geoffrey I. Edelstein Los Angeles, CA November 11, 1999
Report Type (Check only one.):
[ X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
List of Other Manager Reporting for this Manager:
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE
ACT OF 1934.
<PAGE>
WESTCAP INVESTORS
FORM 13F SUMMARY PAGE
REPORT SUMMARY:
NUMBER OF OTHER INCLUDED MANAGERS: 0
FORM 13F INFORMATION TABLE ENTRY TOTAL: 237
FORM 13F INFORMATION TABLE VALUE TOTAL: $965,627,613
LIST OF OTHER INCLUDED MANAGERS:
NO. 13F FILE NUMBER NAME
<PAGE>
<TABLE> <C> <C>
WESTCAP INVESTORS PAGE 1
FORM 13F INFORMATION TABLE
AS OF DATE: 09/30/99
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
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
ABBOTT LABS COM 002824100 3517 95873 SH SOLE 95873 0 0
ACTIVISION INC NEW COM NEW COM 004930202 510 28940 SH SOLE 28940 0 0
ADAPTEC INC COM COM 00651F108 566 14258 SH SOLE 14258 0 0
ADVANCED RADIO TELECOM CORP CO COM 00754U101 359 28450 SH SOLE 28450 0 0
AES CORP 4.500% 08/15/05 CONVERTIBLE BOND 00130HAN5 897 700000 PRN SOLE 700000 0 0
AES CORP COM COM 00130H105 9228 156415 SH SOLE 154415 0 0
AHL SVCS INC COM COM 001296102 336 12900 SH SOLE 12900 0 0
ALBERTSONS INC COM 013104104 1060 26800 SH SOLE 26800 0 0
ALKERMES INC COM COM 01642T108 267 9275 SH SOLE 9275 0 0
ALKERMES INC PFD CON EX 3.25 CONVERTIBLE PREF 01642T405 458 8175 SH SOLE 8175 0 0
ALLERGAN INC COM 018490102 15667 142430 SH SOLE 141730 0 700
ALLIEDSIGNAL INC COM 019512102 605 10100 SH SOLE 10100 0 0
ALLSTATE CORP COM 020002101 392 15718 SH SOLE 15718 0 0
ALTERA CORP COM 021441100 271 6246 SH SOLE 6246 0 0
AMERICAN EXPRESS CO COM 025816109 500 3700 SH SOLE 3700 0 0
AMERICAN HOME PRODS CORP COM 026609107 1001 24132 SH SOLE 24132 0 0
AMERICAN INTL GROUP INC COM 026874107 38641 444474 SH SOLE 444474 0 0
AMERICAN WOODMARK CORP COM COM 030506109 350 13020 SH SOLE 13020 0 0
AMERITECH CORP NEW COM 030954101 387 5800 SH SOLE 5800 0 0
AMGEN INC COM 031162100 774 9500 SH SOLE 9500 0 0
ANADARKO PETROLEUM COM 032511107 245 8000 SH SOLE 8000 0 0
ANHEUSER BUSCH COS I COM 035229103 341 4866 SH SOLE 4866 0 0
ANN TAYLOR 0.550% 06/18/19 CONVERTIBLE BOND 036115AA1 196 340000 PRN SOLE 340000 0 0
APACHE CORP COM 037411105 7933 183694 SH SOLE 183694 0 0
APACHE CORP 6.500% 05/15/02 CONVERTIBLE PREF 037411600 1439 35980 SH SOLE 35980 0 0
ARCHER DANIELS MIDLAND COM 039483102 287 23649 SH SOLE 23649 0 0
ARCHSTONE CMNTYS TR PFD SER A CONVERTIBLE PREF 039581202 327 12300 SH SOLE 12300 0 0
ASSOCIATES FIRST CAPITAL CORP COM 046008108 1591 44182 SH SOLE 44182 0 0
ATLANTIC RICHFIELD C COM 048825103 1001 11300 SH SOLE 11300 0 0
AT&T CORP COM 001957109 1015 23323 SH SOLE 23323 0 0
AT&T CORP LIBERTY MEDIA CL A COM 001957208 1859 49813 SH SOLE 49813 0 0
AUTOMATIC DATA PROCESSING COM 053015103 2350 52658 SH SOLE 52658 0 0
BANK OF AMERICA COM 060505104 16322 293103 SH SOLE 292603 0 500
BANK ONE CORP COM 06423A103 253 7255 SH SOLE 7255 0 0
BELL ATLANTIC CORP COM 077853109 838 12452 SH SOLE 12452 0 0
BELL ATLANTIC FINL 4.250% 09/1 CONVERTIBLE BOND U0778KAD4 1087 1045000 PRN SOLE 1045000 0 0
BENCHMARK ELECTRS INC COM COM 08160H101 477 13520 SH SOLE 13520 0 0
BESTFOODS COM 08658U101 271 5590 SH SOLE 5590 0 0
BP AMOCO ADS COM 055622104 7559 136422 SH SOLE 136422 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 20711 306821 SH SOLE 306821 0 0
BURLINGTON RES INC COM 122014103 1527 41550 SH SOLE 41550 0 0
CABLEVISION SYS CORP PFD I DEP CONVERTIBLE PREF 126304203 845 7800 SH SOLE 7800 0 0
CAMPBELL SOUP CO COM 134429109 274 7000 SH SOLE 7000 0 0
CARDINAL HEALTH INC COM COM 14149Y108 13905 255144 SH SOLE 254494 0 650
CARNIVAL CORP CL A COM 143658102 455 10460 SH SOLE 10460 0 0
CATAPULT COMMUNICATIONS CORPCO COM 149016107 235 15150 SH SOLE 15150 0 0
CBS CORPORATION COM 12490K107 11728 253595 SH SOLE 252795 0 800
CENTOCOR INC. 4.750% 02/15/05 CONVERTIBLE BOND 152342AE1 563 430000 PRN SOLE 430000 0 0
CHASE MANHATTAN CORPORATION COM 16161A108 788 10457 SH SOLE 10457 0 0
CHECKFREE HOLDINGS CORP COM 162816102 268 6525 SH SOLE 6525 0 0
CHEVRON CORP COM 166751107 21033 236999 SH SOLE 236549 0 450
CHOICEPOINT INC COM COM 170388102 413 6130 SH SOLE 6130 0 0
CIBER INC COM COM 17163B102 395 25800 SH SOLE 25800 0 0
CISCO SYS INC COM 17275R102 38961 568247 SH SOLE 567647 0 600
CITIGROUP INC. COM 172967101 24015 545788 SH SOLE 544963 0 825
CLEAR CHANNEL 2.625% 04/01/03 CONVERTIBLE BOND 184502AB8 699 500000 PRN SOLE 500000 0 0
CNF TRUST I TECONS SER A CONVERTIBLE PREF 12612V205 986 18350 SH SOLE 18350 0 0
COASTAL CORP COM 190441105 323 7900 SH SOLE 7900 0 0
COCA COLA CO COM 191216100 2078 43061 SH SOLE 43061 0 0
COINSTAR INC COM COM 19259P300 209 21030 SH SOLE 21030 0 0
COLGATE PALMOLIVE CO COM 194162103 860 18800 SH SOLE 18800 0 0
COLORADO MEDTECH INC COM NEW COM 19652U104 279 19300 SH SOLE 19300 0 0
COMPUTER SCIENCES CORP COM 205363104 24056 342124 SH SOLE 341724 0 400
CONMED CORP COM COM 207410101 285 11620 SH SOLE 11620 0 0
CONNING CORP COM COM 208215103 243 21110 SH SOLE 21110 0 0
COSTCO COMPANIES 0.000% 08/19/ CONVERTIBLE BOND 22160QAC6 727 840000 PRN SOLE 840000 0 0
COSTCO WHOLESALE CORP COM 22160K105 5188 72060 SH SOLE 72060 0 0
COX COMMUNICATIONS 7.000% 08/1 CONVERTIBLE PREF 224044305 1236 21400 SH SOLE 21400 0 0
COX COMMUNICATIONS INC N CL A COM 224044107 920 22042 SH SOLE 22042 0 0
CVS CORP TRACES 6.000% 05/15/0 CONVERTIBLE PREF 126645209 445 5875 SH SOLE 5875 0 0
DAYTON HUDSON CORP COM 239753106 661 11000 SH SOLE 11000 0 0
DEERE & CO COM 244199105 228 5882 SH SOLE 5882 0 0
DEVON ENERGY CORP NEW 4.950% 0 CONVERTIBLE BOND 25179MAB9 974 975000 PRN SOLE 975000 0 0
DISNEY WALT PRODTNS COM 254687106 1037 39891 SH SOLE 39891 0 0
DOLLAR GEN STRYPES TRUST 8.500 CONVERTIBLE PREF 256678103 606 14010 SH SOLE 14010 0 0
DU PONT E I DE NEMOU COM 263534109 430 7100 SH SOLE 7100 0 0
E DIGITAL CORP COM COM 26841Y103 13 10000 SH SOLE 10000 0 0
E M C CORP MASS COM 268648102 2712 38000 SH SOLE 38000 0 0
EL PASO ENERGY CAP TR I PFD CO CONVERTIBLE PREF 283678209 905 17285 SH SOLE 17285 0 0
EL PASO ENERGY CORP DEL COM COM 283905107 533 13252 SH SOLE 13252 0 0
ELAN PLC ADR COM 284131208 2027 60400 SH SOLE 59400 0 1000
ELAN/ATHENA NEUROSCIENCES 4.75 CONVERTIBLE BOND 046854AB1 1326 1180000 PRN SOLE 1180000 0 0
EMERSON ELEC CO COM 291011104 3617 57250 SH SOLE 57250 0 0
ENHANCE FINL SVCS GROUP INC CO COM 293310108 222 12550 SH SOLE 12550 0 0
ENRON CORP COM 293561106 14836 361276 SH SOLE 361276 0 0
EQUITY RESIDENTIAL PPTYS TR DE CONVERTIBLE PREF 29476L859 416 20050 SH SOLE 20050 0 0
ERICSSON L M TEL CO ADR CL B S COM 294821400 219 7002 SH SOLE 7002 0 0
ESTEE LAUDER ACES TRT 6.250% 0 CONVERTIBLE PREF 518438205 304 3900 SH SOLE 3900 0 0
ESTEE LAUDER TRACES 6.250% 06/ CONVERTIBLE PREF 518437207 621 8875 SH SOLE 8875 0 0
EXXON CORP COM 302290101 18952 249374 SH SOLE 249374 0 0
FEDERAL HOME LN MTG CORP COM 313400301 437 8400 SH SOLE 8400 0 0
FEDERAL NATL MTG ASSOC COM 313586109 3318 52930 SH SOLE 52930 0 0
FIRST DATA CORP COM 319963104 4578 104335 SH SOLE 104335 0 0
FIRST ESSEX BANCORP COM COM 320103104 298 18825 SH SOLE 18825 0 0
FLEET FINL GROUP INC NEW COM 338915101 262 7146 SH SOLE 7146 0 0
FORD MTR CO DEL COM 345370100 653 13003 SH SOLE 13003 0 0
GAM FDS INC INTL FD MUTUAL FUNDS 364590109 4403 179348 SH SOLE 179348 0 0
GENERAL ELEC CO COM 369604103 35396 298549 SH SOLE 297349 0 1200
GENZYME CORP 5.250% 06/01/05 CONVERTIBLE BOND 372917AF1 544 405000 PRN SOLE 405000 0 0
GILLETTE CO COM 375766102 3361 99025 SH SOLE 98425 0 600
GLAXO WELLCOME PLC SPONSORED A COM 37733W105 224 4300 SH SOLE 4300 0 0
GTE CORP COM 362320103 20714 269455 SH SOLE 268955 0 500
GUIDANT CORP COM 401698105 2013 37536 SH SOLE 37536 0 0
HADCO CORP COM COM 404681108 540 12490 SH SOLE 12490 0 0
HARBINGER CORP COM COM 41145C103 496 29370 SH SOLE 29370 0 0
HEALTH MGMT ASSOC INC NEW CL A COM 421933102 321 41450 SH SOLE 41450 0 0
HENRY JACK & ASSOC INC COM COM 426281101 242 6550 SH SOLE 6550 0 0
HEWLETT PACKARD CO COM 428236103 587 6465 SH SOLE 6465 0 0
HILTON HOTELS CV SB NT 5.000% CONVERTIBLE BOND 432848AL3 322 401000 PRN SOLE 401000 0 0
HOME DEPOT CVT. BOND 3.250% 10 CONVERTIBLE BOND 437076AE2 952 320000 PRN SOLE 320000 0 0
HOME DEPOT INC COM 437076102 28614 416960 SH SOLE 412062 0 4898
HOOPER HOLMES INC COM COM 439104100 551 21490 SH SOLE 21490 0 0
HOUSEHOLD INTL INC COM 441815107 305 7590 SH SOLE 7590 0 0
HOUSTON INDUSTRIES EXCH TIME W CONVERTIBLE PREF 442161204 1079 10575 SH SOLE 10575 0 0
HSBC HOLDINGS PLC COM 404280406 261 4500 SH SOLE 4500 0 0
HUTCHINSON TECH 6.000% 03/15/0 CONVERTIBLE BOND 448407AC0 326 290000 PRN SOLE 290000 0 0
HUTCHINSON TECHNOLOGY INC COM COM 448407106 311 11500 SH SOLE 11500 0 0
I B M COM 459200101 27379 226269 SH SOLE 265869 0 400
ILLINOIS TOOL WORKS COM 452308109 2383 31960 SH SOLE 31960 0 0
IMAX CORP COM COM 45245E109 296 14785 SH SOLE 14785 0 0
INCYTE PHARMACEUTICALS INC COM COM 45337C102 286 12360 SH SOLE 12360 0 0
INGERSOLL-RAND INCOME PRIDE 6. CONVERTIBLE PREF 456867209 961 36605 SH SOLE 36605 0 0
INHALE THERAPEUTIC SYS COM COM 457191104 329 10840 SH SOLE 10840 0 0
INTEL CORP COM 458140100 21543 289895 SH SOLE 288495 0 1400
INTERACTIVE INTELLIGENCE COM 45839M103 230 10000 SH SOLE 10000 0 0
INTERPUBLIC GROUP COS IN COM 460690100 14931 363059 SH SOLE 362059 0 1000
INTL PAPER CO COM 460146103 321 6682 SH SOLE 6682 0 0
INVESTMENT TECHNOLOGY GRP NECO COM 46145F105 274 11905 SH SOLE 11905 0 0
JACOR COMM INC 0.000% 02/09/18 CONVERTIBLE BOND 469858AB0 664 1075000 PRN SOLE 1075000 0 0
JEFFERIES GROUP INC NEW COM COM 472319102 482 23105 SH SOLE 23105 0 0
JEFFERSON PT CO EXCH NATIONSBA CONVERTIBLE PREF 475070207 1586 17335 SH SOLE 17335 0 0
JOHNSON & JOHNSON COM 478160104 6989 76070 SH SOLE 76070 0 0
KELLOGG CO COM 487836108 210 5600 SH SOLE 5600 0 0
KIMBERLY CLARK CORP COM 494368103 228 4320 SH SOLE 4320 0 0
KONINKLIJKE PHILIPS ELECTRS AD COM 500472204 204 2024 SH SOLE 2024 0 0
K-MART CVT PFD 7.75% CONVERTIBLE PREF 498778208 677 14225 SH SOLE 14225 0 0
LAUDER ESTEE COS INC CL A COM 518439104 1881 48166 SH SOLE 48166 0 0
LILLY ELI & CO COM 532457108 1441 22444 SH SOLE 22444 0 0
LINCOLN NATIONAL INCOME PRIDES CONVERTIBLE PREF 534187604 1996 95320 SH SOLE 95320 0 0
LUCENT TECHNOLOGIES INC COM COM 549463107 24469 377174 SH SOLE 376574 0 600
MAIL-WELL HLDGS INC 5.000% 11/ CONVERTIBLE BOND 560321AD3 416 425000 PRN SOLE 425000 0 0
MARRIOTT INTL INC NEW CL A COM 571903202 723 22114 SH SOLE 21114 0 1000
MASCO CORP COM 574599106 221 7140 SH SOLE 7140 0 0
MCDONALDS CORP COM 580135101 3087 71387 SH SOLE 71387 0 0
MCI WORLDCOM COM 55268B106 22778 316919 SH SOLE 315919 0 1000
MCKESSON PFD 5.000% 06/01/27 CONVERTIBLE PREF 58155P501 973 21000 SH SOLE 21000 0 0
MEDIAONE GROUP INC COM COM 58440J104 8188 119866 SH SOLE 119316 0 550
MEDIAONE GROUP INC SERD CV PFD CONVERTIBLE PREF 58440J203 8431 62450 SH SOLE 62450 0 0
MEDTRONIC INC COM 585055106 477 13400 SH SOLE 13400 0 0
MERCK & CO INC COM 589331107 18796 289999 SH SOLE 289999 0 0
MERRILL LYNCH & CO INC ST YLD CONVERTIBLE PREF 590188645 286 7350 SH SOLE 7350 0 0
METROMEDIA INTL GROUP INC COM COM 591695101 210 50980 SH SOLE 50980 0 0
METROMEDIA INTL. GROUP INC. 7. CONVERTIBLE PREF 591695200 257 10425 SH SOLE 10425 0 0
MICROSOFT CORP COM 594918104 38714 427480 SH SOLE 427080 0 400
MICROSOFT CORP PFD SER A CNV CONVERTIBLE PREF 594918203 1528 15175 SH SOLE 15175 0 0
MIDCOAST ENERGY RES INC COM COM 59563W104 465 23559 SH SOLE 23559 0 0
MINNESOTA MNG & MFG CO COM 604059105 934 9719 SH SOLE 9719 0 0
MOBIL CORP COM 607059102 1180 11709 SH SOLE 11709 0 0
MOLEX INC COM 608554101 2894 79555 SH SOLE 79555 0 0
MOLEX INC CL A COM 608554200 261 8065 SH SOLE 8065 0 0
MORGAN ST DEAN WITTER WCOM 6.0 CONVERTIBLE PREF 617446257 880 113509 SH SOLE 113509 0 0
MORGAN STANLEY DEAN WITTER DIS COM 617446448 433 4854 SH SOLE 4854 0 0
NATION WIDE FINANCIAL COM 638612101 1463 41352 SH SOLE 41352 0 0
NATL SEMICONDUCTOR 6.500% 10/0 CONVERTIBLE BOND 637640AB9 515 520000 PRN SOLE 520000 0 0
NESTLE S A SPON ADR REG FOREIGN COMMON S 641069406 418 4450 SH SOLE 4450 0 0
NEWELL FINL TR I $2.625 PFD CONVERTIBLE PREF 651195307 289 7170 SH SOLE 7170 0 0
NEWFIELD EXPL CO COM COM 651290108 377 11450 SH SOLE 11450 0 0
NEWS AMER HLDGS INC LYONS 0.00 CONVERTIBLE BOND 652478AS7 718 1165000 PRN SOLE 1165000 0 0
NOVOSTE CORP COM COM 67010C100 274 15335 SH SOLE 15335 0 0
OMNICARE INC COM COM 681904108 372 38650 SH SOLE 38650 0 0
OMNICOM 2.250% 01/06/13 CONVERTIBLE BOND 681919AG1 718 430000 PRN SOLE 430000 0 0
OMNICOM GROUP CVT BOND 4.250% CONVERTIBLE BOND 681919AE6 828 325000 PRN SOLE 325000 0 0
OPEN MKT INC COM COM 68370M100 305 23245 SH SOLE 23245 0 0
PE BIOSYSTEMS GROUP COM COM 69332S102 12843 177761 SH SOLE 177061 0 700
PE CORP COM CLRA GENOMC COM 69332S201 2419 60094 SH SOLE 59919 0 175
PEGASUS COMMUNICATIONS CORP CL COM 705904100 331 7340 SH SOLE 7340 0 0
PEPSICO INC COM 713448108 3988 130750 SH SOLE 130750 0 0
PFIZER INC COM 717081103 24403 680216 SH SOLE 678416 0 1800
PHILIP MORRIS COS INC COM 718154107 2100 61415 SH SOLE 61415 0 0
PITNEY BOWES INC COM 724479100 9665 158604 SH SOLE 158604 0 0
PLC CAPITAL TRUST II CONVERTIBLE PREF 743674202 904 18530 SH SOLE 18530 0 0
PMC-SIERRA INC COM COM 69344F106 241 2600 SH SOLE 2600 0 0
PPG INDS INC COM 693506107 1026 17100 SH SOLE 17100 0 0
PRICE T ROWE & ASSOCIATE COM 741477103 322 11720 SH SOLE 11720 0 0
PRIMUS TELECOMM GROUP INC COM COM 741929103 373 17770 SH SOLE 17770 0 0
PROCTER & GAMBLE CO COM 742718109 15272 162899 SH SOLE 162899 0 0
PROLOGIS TR PFD CNV SH BN B CONVERTIBLE PREF 743410300 748 30700 SH SOLE 30700 0 0
PROSPERITY BANCSHARES INC COM COM 743606105 388 25755 SH SOLE 25755 0 0
RALSTON PURINA CO. EXCH NT 7.0 CONVERTIBLE PREF 751277401 1015 21595 SH SOLE 21595 0 0
RITE AID SUB NOTE 5.250% 09/15 CONVERTIBLE BOND 767754AL8 242 295000 PRN SOLE 295000 0 0
ROYAL DUTCH PETRO-NY SHARES COM 780257804 3691 62501 SH SOLE 62501 0 0
ROYCE FD PA MUT FD II MUTUAL FUNDS 780905832 72 10477 SH SOLE 10477 0 0
SAFEWAY INC COM NEW COM 786514208 8447 221933 SH SOLE 221933 0 0
SARA LEE CORP COM 803111103 280 11968 SH SOLE 11968 0 0
SBC COMMUNICATIONS INC COM 78387G103 469 9186 SH SOLE 9186 0 0
SBS BROADCASTING ORD COM L8137F102 498 12840 SH SOLE 12840 0 0
SCANDINAVIAN BROADCASTING 7.00 CONVERTIBLE BOND 805906AC8 318 225000 PRN SOLE 225000 0 0
SCHERING PLOUGH CORP COM 806605101 16049 367901 SH SOLE 367901 0 0
SCHLUMBERGER LTD COM 806857108 1914 30716 SH SOLE 30716 0 0
SCHWAB CHARLES CORP NEW COM 808513105 3205 95864 SH SOLE 90006 0 5858
SCI SYS INC COM COM 783890106 14890 335083 SH SOLE 335083 0 0
SEAGRAMS ACES 7.500% 06/21/02 CONVERTIBLE PREF 811850205 701 15100 SH SOLE 15100 0 0
SEALED AIR CORP NEW PFD CONV A CONVERTIBLE PREF 81211K209 1469 28950 SH SOLE 28950 0 0
SINCLAIR BROADCAST GROUP CNV P CONVERTIBLE PREF 829226505 441 13300 SH SOLE 13300 0 0
SMITH BARNEY INCOME FDS DIVERS MUTUAL FUNDS 83181A856 106 14342 SH SOLE 14342 0 0
SOLECTRON CORP 0.000% 01/27/19 CONVERTIBLE BOND 834182AJ6 736 1210000 PRN SOLE 1210000 0 0
SOUTHWEST AIRLS CO COM 844741108 538 35437 SH SOLE 35437 0 0
STRYKER CORP COM 863667101 941 18400 SH SOLE 18400 0 0
SYSCO CORP COM 871829107 14264 406832 SH SOLE 406832 0 0
TEXAS INSTRS INC COM 882508104 18183 221063 SH SOLE 220363 0 700
TIME WARNER INC COM 887315109 19079 314061 SH SOLE 313561 0 500
TODD AO CORP COM COM 888896107 194 12920 SH SOLE 12920 0 0
TRW INC COM 872649108 358 7200 SH SOLE 7200 0 0
TYCO INTL LTD NEW COM COM 902124106 45392 877509 SH SOLE 877509 0 0
UNITED TECHNOLOGIES CORP COM 913017109 344 5806 SH SOLE 5806 0 0
UNOCAL CORP TOPRS CONV $3.125 CONVERTIBLE PREF 91528T207 1437 26765 SH SOLE 26765 0 0
UNUMPROVIDENT CORP COM 91529Y106 6328 214953 SH SOLE 214953 0 0
URBAN OUTFITTERS INC COM COM 917047102 271 12250 SH SOLE 12250 0 0
US BANCORP COM 902973106 788 26100 SH SOLE 26100 0 0
UST INC COM 902911106 211 7000 SH SOLE 7000 0 0
USX-MARATHON GROUP COM NEW COM 902905827 248 8480 SH SOLE 8480 0 0
VALUEVISION INTL INCCL A COM 92047K107 361 13875 SH SOLE 13875 0 0
VITESSE SEMICONDUCTOR CORP COM COM 928497106 393 9200 SH SOLE 9200 0 0
VODAFONE GROUP PLC ADR SPONSOR COM 92857T107 455 9575 SH SOLE 9575 0 0
WAL MART STORES INC COM 931142103 11818 248480 SH SOLE 248480 0 0
WALGREEN CO COM 931422109 974 38400 SH SOLE 38400 0 0
WARNER LAMBERT CO COM 934488107 202 3040 SH SOLE 3040 0 0
WASHINGTON MUT INC COM COM 939322103 508 17379 SH SOLE 17379 0 0
WELLS FARGO NEW COM 949746101 5265 132871 SH SOLE 132871 0 0
WENDY'S INTL TECON $2.50 CONVERTIBLE PREF 950588202 1058 18725 SH SOLE 18725 0 0
WEYERHAEUSER CO COM 962166104 351 6093 SH SOLE 6093 0 0
WILLIAMS COS INC COM 969457100 15133 402222 SH SOLE 401622 0 600
WILLIAMS COS INC CV PFD $3.50 CONVERTIBLE PREF 969457506 491 2800 SH SOLE 2800 0 0
WRIGLEY WM JR CO COM 982526105 643 9350 SH SOLE 9350 0 0
XEROX CORP COM 984121103 3903 93072 SH SOLE 93072 0 0
XETA CORP COM COM 983909102 181 11600 SH SOLE 11600 0 0
GLOBAL CROSSING LTD COM G3921A100 3790 143 SH SOLE 143 0 0
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