<TABLE>
FORM 13F INFORMATION TABLE
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>
ACE Limited 8.25% FELINE PRIDE PFD CV 004408209 3128 50000 SH DEFINED 50000
Apache Corp. $2.015 dep. shs. PFD CV 037411600 4167 81600 SH DEFINED 81600
CVS $4.23 Auto. Common Exch. T PFD CV 126645209 2170 30400 SH DEFINED 30400
Cox Communications, Inc. 7% FE PFD CV 224044305 2470 40000 SH DEFINED 40000
Dollar General STRYPES Trust 8 PFD CV 256678103 2336 65000 SH DEFINED 65000
Enron Corp. 7% 2002 exch. note PFD CV 293561882 3075 100000 SH DEFINED 100000
Estee Lauder 6.25% TRACES-2 PFD CV 518438205 2226 24600 SH DEFINED 24600
Georgia-Pacific Corp. 7.5% 200 PFD CV 373298801 1875 60000 SH DEFINED 60000
Kerr-McGee Corp. DECS 5.5% 200 PFD CV 492386305 3015 60000 SH DEFINED 60000
MediaOne, Inc. PIES-a 7% 2002 PFD CV 58440J500 2050 50000 SH DEFINED 50000
MetLife Capital Trust I 8% Eq. PFD CV 59156R207 4125 60000 SH DEFINED 60000
Southwest Securities Group, In PFD CV 845224203 681 21460 SH DEFINED 21460
TXU Corp. 9.25% FELINE PRIDES PFD CV 882848203 1525 40000 SH DEFINED 40000
The Coastal Corp. 6.625% FELIN PFD CV 190441865 3475 100000 SH DEFINED 100000
WBK Trust 10% STRYPES PFD CV 929229102 2145 65000 SH DEFINED 65000
AES Trust VII $3 trust cv. pfd PFD CV 00103V206 2841 48000 SH DEFINED 48000
American General Delaware, LLC PFD CV 02637G200 1945 26000 SH DEFINED 26000
CNB Capital Trust 6% SPuRS PFD CV 12613G207 3125 100000 SH DEFINED 100000
Hanover Compressor Capital Tru PFD CV 41076M203 3420 30000 SH DEFINED 30000
National Australia Bank Ltd. 7 PFD CV 632525309 2260 80000 SH DEFINED 80000
SovereignCapitalTrustII unit:7 PFD CV 845905306 2450 50000 SH DEFINED 50000
UnitedGlobalCom dep shs rep 7% PFD CV 913247805 2628 58000 SH DEFINED 58000
Advanced Energy Industries, In CONV 007973AA8 2847 2100000 PRN DEFINED 2100000
Alkermes, Inc. cv. sub. notes CONV 01642TAA6 428 500000 PRN DEFINED 500000
America Online cv. sub. deb. 3 CONV 02364JAC8 2767 5500000 PRN DEFINED 5500000
American International Group c CONV 026874AN7 2989 3000000 PRN DEFINED 3000000
American Tower Corp. cv. sub. CONV 029912AE2 1522 1500000 PRN DEFINED 1500000
Anixter International, Inc. li CONV 035290AA3 2035 8000000 PRN DEFINED 8000000
Bear Stearns Cos., Inc. medium CONV 07383PCN4 3580 4000000 PRN DEFINED 4000000
Bell Atlantic Fin'l Services c CONV 07785GAC4 2442 2000000 PRN DEFINED 2000000
Bell Atlantic Fin'l Services c CONV 07785GAB6 3905 4000000 PRN DEFINED 4000000
Bell Atlantic Fin'l Services c CONV U0778KAB8 4885 4000000 PRN DEFINED 4000000
CV Therapeutics cv. sub. notes CONV 126667AA2 604 500000 PRN DEFINED 500000
Clear Channel Communications, CONV 184502AE2 3915 4000000 PRN DEFINED 4000000
Cor Therapuetics cv. sub. note CONV 217753AC6 1399 1000000 PRN DEFINED 1000000
Costco Companies, Inc. cv. sub CONV 22160QAA0 1619 2000000 PRN DEFINED 2000000
Costco Companies, Inc. cv. sub CONV 22160QAC6 2023 2500000 PRN DEFINED 2500000
Credit Suisse First Boston Cor CONV 2254C0AQ0 2340 2000000 PRN DEFINED 2000000
Credit Suisse First Boston Cor CONV 2254C0AR8 1288 1600000 PRN DEFINED 1600000
Credit Suisse First Boston Cor CONV 2254C0AM1 2700 3000000 PRN DEFINED 3000000
Credit Suisse First Boston Cor CONV 2254C0AZ0 2910 3000000 PRN DEFINED 3000000
Cypress Semiconductor Corp. cv CONV 232806AF6 961 1000000 PRN DEFINED 1000000
Deutsche Bank Financial, Inc. CONV 25153EBK6 1995 2000000 PRN DEFINED 2000000
Deutsche Bank Financial, Inc. CONV 25153EBG5 4135 4000000 PRN DEFINED 4000000
Devon Energy Corp. cv. sub. de CONV 25179MAA1 956 1000000 PRN DEFINED 1000000
Devon Energy Corp. cv. sub. de CONV 25179MAB9 1920 2000000 PRN DEFINED 2000000
Diamond Offshore Drilling Inc. CONV 25271CAA0 2985 2900000 PRN DEFINED 2900000
EchoStar Communication Corp. c CONV 278762AB5 1900 2000000 PRN DEFINED 2000000
Elan Finance Corp. Ltd. liquid CONV 284129AA1 2952 4000000 PRN DEFINED 4000000
Exch. Certificates Corp. exch. CONV 30149TAD7 3940 4300000 PRN DEFINED 4300000
Exch. Certificates Corp. exch. CONV 30149TAA3 1050 1000000 PRN DEFINED 1000000
Exch. Certificates Corp. exch. CONV 30149TAF2 1820 2000000 PRN DEFINED 2000000
Exch. Certificates Corp. exch. CONV 30149TAG0 1872 2000000 PRN DEFINED 2000000
Exch. Certificates Corp. exch. CONV 30149TAB1 2160 2000000 PRN DEFINED 2000000
Exodus Comunications, Inc. cv. CONV 302088AG4 2178 1500000 PRN DEFINED 1500000
Hewlett-Packard Co., Inc. liqu CONV 428236AC7 2850 3000000 PRN DEFINED 3000000
Human Genome Sciences, Inc. cv CONV 444903AH1 1320 1600000 PRN DEFINED 1600000
Imax Corp. cv. sub. notes 144A CONV 45245EAC3 2274 2000000 PRN DEFINED 2000000
Interim Services Inc. cv. sub. CONV 45868PAA8 2304 3000000 PRN DEFINED 3000000
Interpublic Group Cos., Inc. c CONV 460690AG5 2914 3000000 PRN DEFINED 3000000
Ivax Corp. cv. senior sub. not CONV 465823AB8 1302 1000000 PRN DEFINED 1000000
Juniper Networks, Inc. cv. sub CONV 48203RAA2 2217 2000000 PRN DEFINED 2000000
Kerr-McGee Corp. cv. sub. deb. CONV 492386AL1 960 1000000 PRN DEFINED 1000000
Kerr-McGee Corp. cv. sub. deb. CONV 492386AP2 1729 1500000 PRN DEFINED 1500000
LSI Logic Corp. cv. sub. notes CONV 502161AE2 2115 2000000 PRN DEFINED 2000000
Lehman Brothers Holdings, Inc. CONV 524908CJ7 4020 4000000 PRN DEFINED 4000000
Level 3 Communications, Inc. c CONV 52729NAS9 1821 2000000 PRN DEFINED 2000000
Liberty Media Group cv. sub. n CONV 530715AK7 3266 3000000 PRN DEFINED 3000000
Loews Corp. cv. sub. notes (DO CONV 540424AL2 831 1000000 PRN DEFINED 1000000
Merrill Lynch (TWX) medium ter CONV 590188JV1 4240 4000000 PRN DEFINED 4000000
Merrill Lynch note linked to t CONV 590188A24 3277 3000000 PRN DEFINED 3000000
NTL, Inc. cv. sub. notes 144A CONV 629407AN7 1590 2000000 PRN DEFINED 2000000
National Data Corp. cv. sub. n CONV 635621AA3 2870 3500000 PRN DEFINED 3500000
Nextel Communications, Inc. cv CONV 65332VAW3 3653 3500000 PRN DEFINED 3500000
Penn Treaty American Corp. cv. CONV 707874AA1 1352 1750000 PRN DEFINED 1750000
Penn Treaty American Corp. cv. CONV 707874AC7 966 1250000 PRN DEFINED 1250000
Pinnacle Holdings, inc. cv. su CONV 72346NAC5 1339 1500000 PRN DEFINED 1500000
Rational Software cv. sub. not CONV 75409PAA1 1445 1000000 PRN DEFINED 1000000
Roche Holdings, Inc. liquid yi CONV 771196AC6 1341 2500000 PRN DEFINED 2500000
Roche Holdings, Inc. liquid yi CONV 771196AG7 1125 1250000 PRN DEFINED 1250000
STMicroelectronics, N.V. liqui CONV 861012AB8 4119 2400000 PRN DEFINED 2400000
Sci Systems, Inc. cv. sub. not CONV 783890AF3 2456 2500000 PRN DEFINED 2500000
Sepracor, Inc. cv. notes 144A CONV 817315AF1 4075 2000000 PRN DEFINED 2000000
Sepracor, Inc. cv. notes Reg. CONV 817315AH7 1019 500000 PRN DEFINED 500000
Siebel Systems, Inc. cv. sub. CONV 826170AA0 1438 400000 PRN DEFINED 400000
Simula, Inc. sr. cv. sub. note CONV 829206AB7 744 1750000 PRN DEFINED 1750000
Solectron Corp. liquid yield o CONV 834182AJ6 1365 2000000 PRN DEFINED 2000000
Spacehab, Inc. cv. sub. notes CONV 846243AA1 983 1405000 PRN DEFINED 1405000
Tekelec cv. sub. discount note CONV 879101AA1 3871 1400000 PRN DEFINED 1400000
The Goldman Sachs Group, Inc. CONV 38141GAM6 2275 2000000 PRN DEFINED 2000000
The Goldman Sachs Group, Inc. CONV 38141GAF1 1779 2000000 PRN DEFINED 2000000
Young & Rubicam cv. sub. notes CONV 987425AA3 2055 2000000 PRN DEFINED 2000000
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