UNITED STATES
SECURITIES AND EXCHANGE COMMISION
Washington, D.C. 20549
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 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 June 09, 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: 99
Form 13F Information Table Value Total: $408,306,943
List of Other Included Managers: None
No. 13F File Number Name
01
02
03
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FORM 13F
FOR THE QUARTER ENDED MARCH 31, 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
APP FINANCE 0% LYON Conv. Bond 00202NAA3 627,688 4,150,000 P 4,150,000
ADVANCED MICRO DEV 6% 5/15/05 Conv. Bond 007903AC1 7,159,295 10,013,000 P 10,013,000
AIRTOUCH COMM 4.25% CVP Conv. Pfd 00949T308 6,578,600 50,800 P 50,800
ALZA CORP 5% 5/1/06 Conv. Bond 022615AD0 5,226,190 4,486,000 P 4,486,000
AMERICA ON LINE 4% 11/15/02 T Conv. Bond 02364JAA2 39,865,500 3,600,000 P 3,600,000
AMERICA ON LINE 4% 11/15/02 Conv. Bond 02364JAB0 56,476,125 5,100,000 P 5,100,000
AMER RETIRE 5.75 10/1/02 Conv. Bond 028913AA9 2,776,388 3,335,000 P 3,335,000
AMKOR TECH. 5.75% 05/01/03 Conv. Bond 031652AA8 5,115,000 6,000,000 P 6,000,000
ANTEC CORP. 4.5% 5/15/03 Conv. Bond 03664PAA3 1,281,250 1,250,000 P 1,250,000
ATMEL 0% 4/15/18 T Conv. Bond 049513AB0 307,500 1,000,000 P 1,000,000
ATRIX 7% 12/01/04 T Conv. Bond 04962LAA9 2,497,188 3,050,000 P 3,050,000
AVIRON 5.75% 4/1/05 T Conv. Bond 053762AA8 4,042,000 4,700,000 P 4,700,000
AVIRON 5.75% 4/1/05 Conv. Bond 053762AC4 860,000 1,000,000 P 1,000,000
BANKATLANTIC 6.75% 7/1/06 Conv. Bond 065908AB1 2,493,700 2,267,000 P 2,267,000
BANKATLANTIC 5.625% 12/1/07 Conv. Bond 065908AC9 1,168,410 1,479,000 P 1,479,000
CALLON PETROL $2.125 CVP Conv. Pfd 13123X201 936,250 35,000 P 35,000
CAREMATRIX 6.25% 8/15/04 Conv. Bond 141706AC5 862,500 1,000,000 P 1,000,000
CENTOCOR 4.75% 2/05 T Conv. Bond 152342AC5 3,880,000 4,000,000 P 4,000,000
CHANCELLOR MEDIA 7% CVP Conv. Pfd 158915306 1,983,750 15,000 P 15,000
CHANCELLOR $3 12/31/49 CVP Conv. Pfd 158915405 4,010,025 42,100 P 42,100
CHECKPOINT 5.25% 11-01-05 T Conv. Bond 162825AA1 140,000 200,000 P 200,000
CHECKPOINT SYSTEM 5.25%11/1/05 Conv. Bond 162825AB9 2,846,200 4,066,000 P 4,066,000
CHOCK FULL O NUTS 7% 4/1/12 Conv. Bond 170268AC0 293,480 319,000 P 319,000
CIRRUS LOGIC 6% 12-15-03 T Conv. Bond 172755AA8 1,530,000 2,250,000 P 2,250,000
CIRRUS LOGIC 6% 12/15/03 Conv. Bond 172755AC4 2,947,120 4,334,000 P 4,334,000
CITIZENS UTILITIES TRUST 5% Conv. Pfd 177351202 204,000 5,100 P 5,100
COMVERSE TECH. 5.75% 10-1-06T Conv. Bond 205862AC9 2,796,969 1,475,000 P 1,475,000
COMVERSE TECH 5.75% 10/1/06 Conv. Bond 205862AE5 4,788,031 2,525,000 P 2,525,000
CONCENTRA MGD CARE 6% 12/15/01 Conv. Bond 20589TAA1 3,272,500 3,500,000 P 3,500,000
CONTINENTAL AIR 6.75% 4/15/06T Conv. Bond 210795AQ3 12,737,500 10,000,000 P 10,000,000
COSTCO COMPANIES 0% 8/19/17 Conv. Bond 22160QAC6 5,343,750 5,000,000 P 5,000,000
DRS TECHNOLOGIES 9% 10/1/03 Conv. Bond 23330XAB6 184,000 200,000 P 200,000
EMC CORP 3.25% 3/15/02 Conv. Bond 26865YAA2 11,285,000 2,000,000 P 2,000,000
ECHOSTAR 6.75% 12/31/49 CVP Conv. Pfd 278762307 14,237,500 85,000 P 85,000
EMCOR GROUP 5.75% 4/1/05 Conv. Bond 29084QAC4 3,027,500 3,500,000 P 3,500,000
FAMILY GOLF 5.75% 10/15/04 T Conv. Bond 30701AAA4 1,663,750 2,750,000 P 2,750,000
D WTS FEDERATED DEPARTMENT Warrant 31410H127 762,500 50,000 P 50,000
FINOVA FINANCE 5.5%12-31-16CVP Conv. Pfd 31808E207 1,242,500 17,500 P 17,500
FIRST UNION REAL8.4% 12/49 CVP Conv. Pfd 337400303 1,150,200 56,800 P 56,800
GENESCO 5.5% 4/15/05 T Conv. Bond 371532AK8 3,646,650 4,830,000 P 4,830,000
HMT TECHNOLOGY 5.75% 1/15/04 Conv. Bond 403917AD9 900,000 2,000,000 P 2,000,000
HEXCEL CORP 7% 8/1/03 Conv. Bond 428291AA6 2,585,450 3,115,000 P 3,115,000
HOME DEPOT 3.25% 10/1/01 Conv. Bond 437076AE2 10,835,000 4,000,000 P 4,000,000
HOMEBASE 5.25% 11/1/04 T Conv. Bond 43738EAA6 2,872,875 4,075,000 P 4,075,000
HOMEBASE INC. 5.25% 11/1/04 Conv. Bond 43738EAB4 528,750 750,000 P 750,000
HUTCHINSON TECH. 6% 3/15/05 Conv. Bond 448407AC0 6,570,000 6,000,000 P 6,000,000
ITRON INC. 6.75% 3/31/04 Conv. Bond 465741AC0 994,500 1,530,000 P 1,530,000
JACOR COMMUN 0% 2/9/18 Conv. Bond 469858AB0 2,597,000 4,900,000 P 4,900,000
LENNAR CORP. 0% 7/29/18 Conv. Bond 526057AA2 875,000 2,000,000 P 2,000,000
LIFE RE CAPITAL 6% 3/15/03 CVP Conv. Pfd 532163300 1,868,750 25,000 P 25,000
LIMITED INC Common Stk 532716107 273,875 7,000 P 7,000
MAGNA INTL 4.875 02/15/05 T Conv. Bond 559222AF1 5,728,500 5,700,000 P 5,700,000
MAY & SPEH 5.25% 4/01/03 Conv. Bond 577777AA3 8,470,440 5,704,000 P 5,704,000
MEDIMMUNE INC 7.00% 07/01/03 T Conv. Bond 584699AA0 10,500,000 1,750,000 P 1,750,000
MEDIMMUNE 7% 7/1/03 Conv. Bond 584699AC6 9,000,000 1,500,000 P 1,500,000
METRICOM 8% 9/15/03 144A Conv. Bond 591596AA9 217,000 350,000 P 350,000
METRICOM 8% 9/15/03 Conv. Bond 591596AC5 713,000 1,150,000 P 1,150,000
NCS HEALTHCARE 5.75% 8/15/04 Conv. Bond 628874AC3 620,000 1,000,000 P 1,000,000
NATIONAL AUST.BANK 7.875% CVP Conv. Pfd 632525309 630,000 20,000 P 20,000
NETWORK ASSOC. 0% 2/13/18 Conv. Bond 640938AB2 1,709,625 4,700,000 P 4,700,000
NETWORK ASSOC. 0% 2/13/18 Conv. Bond 640938AB2 291,000 800,000 P 800,000
NEXSTAR PHARM. 6.25% 8/1/04 Conv. Bond 65333BAC0 1,158,750 1,000,000 P 1,000,000
NINE WEST 5.5% 7/15/03 Conv. Bond 65440DAC6 2,080,220 2,213,000 P 2,213,000
OAK INDUSTRIES 4.875% 3/1/08 T Conv. Bond 671400AJ8 2,045,000 2,000,000 P 2,000,000
OAK INDUSTRIES 4.875% 3/1/08 Conv. Bond 671400AL3 1,022,500 1,000,000 P 1,000,000
PENN TREATY 6.25% 12-1-03 T Conv. Bond 707874AA1 1,661,625 1,575,000 P 1,575,000
PENN TREATY 6.25% 12/01/03 Conv. Bond 707874AC7 1,793,500 1,700,000 P 1,700,000
PETSMART INC 6.75% 11/1/04 T Conv. Bond 716768AA4 3,640,000 3,250,000 P 3,250,000
PETSMART INC. 6.75% 11/1/04 Conv. Bond 716768AB2 560,000 500,000 P 500,000
PHILIPPINE $3.5 12-31-49 CVP Conv. Pfd 718252703 940,000 20,000 P 20,000
PLATINUM TECH 6.75% 11-15-01 Conv. Bond 72764TAA9 7,856,625 4,305,000 P 4,305,000
PROLOGIS TRUST 7% PRFD Conv. Pfd 743410300 1,144,000 44,000 P 44,000
RECKSON 7.625% 12/31/49 CVP Conv. Pfd 75621K205 3,112,000 160,000 P 160,000
RES CARE INC. 6% 12/01/04 Conv. Bond 760943AA8 1,285,000 1,000,000 P 1,000,000
ROBBINS & MYR 6.5% 9/1/03 Conv. Bond 770196AA1 227,840 256,000 P 256,000
SABRATEK 6% 4/15/05 Conv. Bond 78571UAA6 861,000 1,400,000 P 1,400,000
SEALED AIR $2 4/1/18 CVP Conv. Pfd 81211K209 11,970,000 240,000 P 240,000
SENSORMATIC 6.5% 12/31/49CVP T Conv. Pfd 817265200 2,489,650 145,000 P 145,000
SEPRACOR 6.25% 2/15/05 T Conv. Bond 817315AC8 5,920,613 2,315,000 P 2,315,000
SEPRACOR 6.25% 2/15/05 Conv. Bond 817315AE4 13,900,013 5,435,000 P 5,435,000
SEPRACOR 7% 12/15/05 Conv. Bond 817315AF1 11,925,000 10,000,000 P 10,000,000
SINCLAIR BROAD 6% 12/31/49 CVP Conv. Pfd 829226505 4,615,800 109,900 P 109,900
SKYTEL COMM $2.25 12/31/49 CVP Conv. Pfd 83087Q302 3,320,625 115,000 P 115,000
SOUTHERN PACIFIC 6.75% 10/15/6 Conv. Bond 843576AA7 135,000 1,500,000 P 1,500,000
SPACEHAB 8% 10\15\97 Conv. Bond 846243AA1 414,000 600,000 P 600,000
SPORTS AUTHOR 5.25% 9/15/01 Conv. Bond 849176AC6 360,000 500,000 P 500,000
SUNRISE ASSIST 5.5% 6/15/02 Conv. Bond 86768KAC0 2,314,375 1,750,000 P 1,750,000
SYNETIC INC. 5% 2-15-07 Conv. Bond 87160FAB5 5,645,925 5,455,000 P 5,455,000
SYSTEM SOFT 7% 09/15/02 Conv. Bond 871839AA4 738,400 1,420,000 P 1,420,000
SYSTEMS & COMP 5% 10/15/04 Conv. Bond 871873AB1 2,298,725 3,215,000 P 3,215,000
TELE COMMUNICATIONS 4.5% 2/06 Conv. Bond 87924HAA0 4,773,000 4,300,000 P 4,300,000
THERMO INSTRUMENT 4% 1/15/05 Conv. Bond 883559AE6 1,207,500 1,500,000 P 1,500,000
THERMOQUEST 5% 8/15/00 T Conv. Bond 883655AA0 3,000,000 3,000,000 P 3,000,000
TOWER AUTOMOTIVE 5% 8/01/04 Conv. Bond 891707AE1 4,394,250 4,650,000 P 4,650,000
WHX SER A 6.5% 12/31/49 CVP Conv. Pfd 929248201 1,417,800 41,700 P 41,700
WANG LABS 6.5% 12/31/49 CVP Conv. Pfd 93369N604 748,435 16,540 P 16,540
WESTERN DIGITAL 0% 2/18/18 T Conv. Bond 958102AF2 865,000 4,000,000 P 4,000,000
WORLD COLOR 6% 10/1/07 Conv. Bond 981443AA2 1,777,500 2,000,000 P 2,000,000
LORAL SPACE & COMM. 6% CVP Conv. Pfd G56462149 3,660,000 80,000 P 80,000
GRAND TOTAL 408,306,943
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