UNITED STATES
SECURITIES AND EXCHANGE COMMISION
Washington, D.C. 20549
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: TQA Investors, LLC
Address: 405 Lexington Avenue
45th Floor
New Town, NY 10174
13F File Number: 28-6206
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 intergral parts of
this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Bartholomew C. Tesoriero
Title: CFO
Phone: 212-599-4200
Signature, Place, and Date of Signing:
Bartholomew C. Tesoriero New York, New York November 15, 1999
Report Type (Check only one.):
[ X ] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
List of Other Managers Reporting for this Manager: None
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE
ACT OF 1934.
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FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: None
Form 13F Information Table Entry Total: 75
Form 13F Information Table Value Total: $224,878,660
List of Other Included Managers: None
No. 13F File Number Name
01
02
03
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FORM 13F
FOR THE QUARTER ENDED SEPTEMBER 30, 1999 (SEC USE ONLY)
NAME OF REPORTING MANAGER: TQA INVESTORS, L.L.C.
Item 1: Item 2: Item 3: Item 4: Item 5: Item 6: Investment Discression Item 7: Item 8: Voting Authority
Name of Issuer Title of Class CUSIP Fair Market Shares or (a) Sole (b) Shared (c) Shared - Managers (a) Sole (b) Shared (c) None
Number Value Principal as Defined Other See
Amount in Instr. V Instr. V
AMFM INC. 7% CVP STOCK 001693209 2,535,000 15,000 15,000 15,000 SOLE
ALZA CORP 5% 5/1/06 DEBT 022615AD0 5,428,060 4,486,000 4,486,000 4,486,000 SOLE
AMER RETIRE 5.75 10/1/02 DEBT 028913AA9 2,780,375 3,835,000 3,835,000 3,835,000 SOLE
AMKOR TECH. 5.75% 05/01/03 DEBT 031652AA8 5,838,750 4,500,000 4,500,000 4,500,000 SOLE
ATRIX 7% 12/01/04 T DEBT 04962LAA9 2,043,500 3,050,000 3,050,000 3,050,000 SOLE
AVIRON 5.75% 4/1/05 T DEBT 053762AA8 4,275,000 4,500,000 4,500,000 4,500,000 SOLE
AVIRON 5.75% 4/1/05 DEBT 053762AC4 1,140,000 1,200,000 1,200,000 1,200,000 SOLE
BANKATLANTIC 6.75% 7/1/06 DEBT 065908AB1 1,311,345 1,267,000 1,267,000 1,267,000 SOLE
BANKATLANTIC 5.625% 12/1/07 DEBT 065908AC9 1,146,225 1,479,000 1,479,000 1,479,000 SOLE
CNET INC. 5% 3/1/06 DEBT 125945AC9 82,000 50,000 50,000 50,000 SOLE
CALLON PETROL $2.125 CVP STOCK 13123X201 1,207,500 35,000 35,000 35,000 SOLE
CAREMATRIX 6.25% 8/15/04 DEBT 141706AC5 1,140,000 2,500,000 2,500,000 2,500,000 SOLE
CENTOCOR 4.75% 2/05 DEBT 152342AE1 6,581,250 5,000,000 5,000,000 5,000,000 SOLE
CEPHALON INC. 7.25% 12/31/49 T STOCK 156708307 3,420,000 60,000 60,000 60,000 SOLE
CHECKPOINT 5.25% 11-01-05 T DEBT 162825AA1 148,500 200,000 200,000 200,000 SOLE
CHECKPOINT SYSTEM 5.25%11/1/05 DEBT 162825AB9 1,496,880 2,016,000 2,016,000 2,016,000 SOLE
CIRRUS LOGIC 6% 12-15-03 T DEBT 172755AA8 1,687,500 2,250,000 2,250,000 2,250,000 SOLE
CIRRUS LOGIC 6% 12/15/03 DEBT 172755AC4 3,250,500 4,334,000 4,334,000 4,334,000 SOLE
CITIZENS UTILITIES TRUST 5% STOCK 177351202 4,033,575 81,900 81,900 81,900 SOLE
COMVERSE TECH. 5.75% 10-1-06T DEBT 205862AC9 4,039,925 1,325,000 1,325,000 1,325,000 SOLE
COMVERSE TECH 5.75% 10/1/06 DEBT 205862AE5 8,156,075 2,675,000 2,675,000 2,675,000 SOLE
DRS TECHNOLOGIES 9% 10/1/03 DEBT 23330XAB6 226,000 200,000 200,000 200,000 SOLE
EMC CORP 3.25% 3/15/02 DEBT 26865YAA2 12,610,000 2,000,000 2,000,000 2,000,000 SOLE
ECHOSTAR 6.75% 12/31/49 CVP STOCK 278762307 31,365,000 85,000 85,000 85,000 SOLE
EMCOR GROUP 5.75% 4/1/05 DEBT 29084QAC4 3,181,150 3,500,000 3,500,000 3,500,000 SOLE
FAMILY GOLF 5.75% 10/15/04 T DEBT 30701AAA4 437,500 1,250,000 1,250,000 1,250,000 SOLE
D WTS FEDERATED DEPT 12/19/01 STOCK 31410H127 906,250 50,000 50,000 50,000 SOLE
FIRST UNION REAL8.4% 12/49 CVP STOCK 337400303 1,221,200 56,800 56,800 56,800 SOLE
GENESCO 5.5% 4/15/05 T DEBT 371532AK8 3,777,750 4,380,000 4,380,000 4,380,000 SOLE
HMT TECHNOLOGY 5.75% 1/15/04 DEBT 403917AD9 750,000 2,000,000 2,000,000 2,000,000 SOLE
HEXCEL CORP 7% 8/1/03 DEBT 428291AA6 2,747,400 3,615,000 3,615,000 3,615,000 SOLE
HOME DEPOT 3.25% 10/1/01 DEBT 437076AE2 4,356,814 1,463,000 1,463,000 1,463,000 SOLE
HOMEBASE 5.25% 11/1/04 T DEBT 43738EAA6 2,431,000 3,575,000 3,575,000 3,575,000 SOLE
HOMEBASE INC. 5.25% 11/1/04 DEBT 43738EAB4 1,598,000 2,350,000 2,350,000 2,350,000 SOLE
HUTCHINSON TECH. 6% 3/15/05 DEBT 448407AC0 6,780,000 6,000,000 6,000,000 6,000,000 SOLE
ITRON INC. 6.75% 3/31/04 DEBT 465741AC0 690,795 1,071,000 1,071,000 1,071,000 SOLE
KELLSTROM 5.5% 6/15/03 DEBT 488035AE6 705,000 1,000,000 1,000,000 1,000,000 SOLE
KMART FINANC 7.75%6/15/16 CVP STOCK 498778208 1,275,750 27,000 27,000 27,000 SOLE
MITSUBISHI BK OF TOKYO 3%11/02 DEBT 55262XAA2 2,350,000 2,000,000 2,000,000 2,000,000 SOLE
MAGNA INTL 4.875 02/15/05 T DEBT 559222AF1 1,996,500 2,200,000 2,200,000 2,200,000 SOLE
METRICOM 8% 9/15/03 144A DEBT 591596AA9 549,500 350,000 350,000 350,000 SOLE
METRICOM 8% 9/15/03 DEBT 591596AC5 1,805,500 1,150,000 1,150,000 1,150,000 SOLE
OAK INDUSTRIES 4.875% 3/1/08 T DEBT 671400AJ8 2,100,000 2,000,000 2,000,000 2,000,000 SOLE
OAK INDUSTRIES 4.875% 3/1/08 DEBT 671400AL3 1,575,000 1,500,000 1,500,000 1,500,000 SOLE
PENN TREATY 6.25% 12-1-03 T DEBT 707874AA1 1,480,500 1,575,000 1,575,000 1,575,000 SOLE
PENN TREATY 6.25% 12/01/03 DEBT 707874AC7 1,598,000 1,700,000 1,700,000 1,700,000 SOLE
PERSONNEL GROUP 5.75% 7/1/04 DEBT 715338AE9 1,440,000 2,000,000 2,000,000 2,000,000 SOLE
PETSMART INC 6.75% 11/1/04 T DEBT 716768AA4 2,258,750 3,250,000 3,250,000 3,250,000 SOLE
PETSMART INC. 6.75% 11/1/04 DEBT 716768AB2 347,500 500,000 500,000 500,000 SOLE
PHILIPPINE $3.5 12-31-49 CVP STOCK 718252703 830,000 20,000 20,000 20,000 SOLE
PROLOGIS TRUST 7% PRFD STOCK 743410300 1,064,800 44,000 44,000 44,000 SOLE
RECKSON 7.625% 12/31/49 CVP STOCK 75621K205 3,769,375 185,000 185,000 185,000 SOLE
RES CARE INC. 6% 12/01/04 T DEBT 760943AA8 990,000 1,000,000 1,000,000 1,000,000 SOLE
RES CARE INC. 6% 12/01/04 DEBT 760943AC4 252,450 255,000 255,000 255,000 SOLE
SABRATEK 6% 4/15/05 DEBT 78571UAA6 378,000 1,400,000 1,400,000 1,400,000 SOLE
SEALED AIR $2 4/1/18 CVP STOCK 81211K209 13,448,750 265,000 265,000 265,000 SOLE
SENSORMATIC 6.5% 12/31/49CVP T STOCK 817265200 2,900,000 145,000 145,000 145,000 SOLE
SEPRACOR 6.25% 2/15/05 T DEBT 817315AC8 2,683,975 1,565,000 1,565,000 1,565,000 SOLE
SEPRACOR 6.25% 2/15/05 DEBT 817315AE4 10,607,275 6,185,000 6,185,000 6,185,000 SOLE
SEPRACOR 7% 12/15/05 T DEBT 817315AF1 7,845,600 8,400,000 8,400,000 8,400,000 SOLE
SINCLAIR BROAD 6% 12/31/49 CVP STOCK 829226505 3,516,800 109,900 109,900 109,900 SOLE
SKYTEL COMM $2.25 12/31/49 CVP STOCK 83087Q302 4,255,000 115,000 115,000 115,000 SOLE
SPACEHAB 8% 10\15\97 DEBT 846243AA1 358,500 600,000 600,000 600,000 SOLE
SPORTS AUTHOR 5.25% 9/15/01 DEBT 849176AC6 590,000 1,000,000 1,000,000 1,000,000 SOLE
SUNRISE ASSIST 5.5% 6/15/02 DEBT 86768KAC0 1,680,000 1,750,000 1,750,000 1,750,000 SOLE
SYSTEM SOFT 7% 09/15/02 DEBT 871839AA4 155,400 420,000 420,000 420,000 SOLE
SYSTEMS & COMP 5% 10/15/04 DEBT 871873AB1 2,128,560 2,715,000 2,715,000 2,715,000 SOLE
THERMO INSTRUMENT 4% 1/15/05 DEBT 883559AE6 1,200,000 1,500,000 1,500,000 1,500,000 SOLE
THERMOQUEST 5% 8/15/00 T DEBT 883655AA0 970,000 1,000,000 1,000,000 1,000,000 SOLE
TOWER AUTOMOTIVE 5% 8/01/04 DEBT 891707AE1 4,405,875 4,650,000 4,650,000 4,650,000 SOLE
WORLD COLOR 6% 10/1/07 DEBT 981443AA2 3,165,000 3,000,000 3,000,000 3,000,000 SOLE
CONEXANT SYSTEMS STOCK 207142100 406,700 5,600 5,600 5,600 SOLE
FINOVA FINANCE 5.5%12-31-16CVP STOCK 31808E207 910,000 17,500 17,500 17,500 SOLE
NAVIGANT CONSULTING STOCK 63935N107 217,963 4,700 4,700 4,700 SOLE
TJX COMPANIES INC NEW STOCK 872540109 286,238 10,200 10,200 10,200 SOLE
WHX SER A 6.5% 12/31/49 CVP STOCK 929248201 1,559,580 41,700 41,700 41,700 SOLE
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GRAND TOTAL 224,878,660
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