The United States Securities and Exchange
Commission
Washington, D.C. 20549
Form 13F
Information Required of Institutional Investment
Managers Pursuant to Section 13 (f) Securities
Exchange Act of 1934 and Rules Thereunder.
Report for the Calendar Year or Quarter Ended
March 31, 2000.
Name of Institutional Investment Manager:
JMG Capital Partners, LP
Business Address: 1999 Avenue of the Stars, #2530
Los Angeles, CA 90067
Jonathan Glaser, 310-201-2619
President of the General Partner
The institutional investment manager submitting this
Form and its attachements and the person by whom
it is signed represents hereby that all information
contained thereon is true, correct and complete.
It is understood that all required items, statements
and schedules are considered integral parts of this
Form and that the submission by any amendment
represents that all unamended items, statements
and schedules remain true, correct and complete
as previously submitted. Pursuant to the requirements
institutional investment manager has cause this
report to be signed on its behalf in the City of Los
Angeles and State of California on the 12th day of
April 2000.
JMG Capital Partners, L.P.
Jonathan Glaser, President of the General Partner
Report Summary
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 307
Form 13F Information Table Value Total: $608,968,910
<TABLE> <C> <C>
FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER CLASS CUSIP (x$1000PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
AAMES FINANCIAL CORP 5.5% BND CONV 00253AAE1 2092 6,972,000 PRN SOLE 0 0 0
ACCLAIM ENTMT INC 10% 3/1/ BND CONV 004325AA4 2047 2,550,000 PRN SOLE 0 0 0
ACTIVISION INC NEW 6.75% 1 BND CONV 004930AC7 1967 2,260,000 PRN SOLE 0 0 0
ADVANCED MICRO DEVICES 6% BND CONV 007903AC1 21627 13,250,000PRN SOLE 0 0 0
ALPHARMA INC 3% 144 BND CONV 020813AC5 1240 1,000,000 PRN SOLE 0 0 0
ALPHARMA INC 3% 6/06 BND CONV 020813AD3 3100 2,500,000 PRN SOLE 0 0 0
ALPHARMA INC 5.75% 4/05 BND CONV 020813AA9 1020 750,000 PRN SOLE 0 0 0
ALPHARMA INC 5.75% 4/1/05 BND CONV 020813AB7 6615 4,862,000 PRN SOLE 0 0 0
AMAZON.COM INC 4.75% 2/09 BND CONV 023135AF3 26547 26,750,000PRN SOLE 0 0 0
AMERICA ONLINE INC DEL CON BND CONV 02364JAC8 13080 23,750,000PRN SOLE 0 0 0
AMERICAN TOWER CORP 2.25% BND CONV 029912AD4 2022 1,355,000 PRN SOLE 0 0 0
AMERICAN TOWER CORP 6.25% BND CONV 029912AB8 12304 5,750,000 PRN SOLE 0 0 0
AMERITRADE HLDG CORP 5.75% BND CONV 03072HAA7 2498 3,000,000 PRN SOLE 0 0 0
AMKOR TECH 5% 3/15/07 144 BND CONV 031652AF7 2486 2,250,000 PRN SOLE 0 0 0
ASIA PULP & PAPER (APP FIN BND CONV 00202NAA3 1475 7,763,000 PRN SOLE 0 0 0
ASM LITHOGRAPHY HOLDINGS 1 BND CONV 00207EAB6 1169 1,000,000 PRN SOLE 0 0 0
ASPEN TECHNOLOGY INC 5.25% BND CONV 045327AB9 3491 3,650,000 PRN SOLE 0 0 0
ASSISTED LIVING 6% 11/01/0 BND CONV 04543LAD1 1793 3,091,000 PRN SOLE 0 0 0
AT HOME CORP 12/18 BND CONV 045919AC1 7611 14,532,000PRN SOLE 0 0 0
AT HOME CORP 12/18 144 BND CONV 045919AA5 5242 10,009,000PRN SOLE 0 0 0
AT HOME CORP 4.75% 12/06 1 BND CONV 045919AD9 1511 1,843,000 PRN SOLE 0 0 0
ATRIX LABS INC 7% 12/04 BND CONV 04962LAC5 369 500,000 PRN SOLE 0 0 0
ATRIX LABS INC 7% 12/04 BND CONV 04962LAA9 738 1,000,000 PRN SOLE 0 0 0
AVIRON 5.75% 4/05 BND CONV 053762AA8 505 500,000 PRN SOLE 0 0 0
AVIRON 5.75% 4/05 BND CONV 053762AC4 5303 5,250,000 PRN SOLE 0 0 0
BAAN CO NV 4.5% BND CONV 056072AB7 1706 1,875,000 PRN SOLE 0 0 0
BANKATLANTIC BANCORP 6.75% BND CONV 065908AB1 1050 1,250,000 PRN SOLE 0 0 0
BEA SYSTEMS INC 4% 12/06 BND CONV 073325AC6 8058 6,500,000 PRN SOLE 0 0 0
BELL ATLANTIC 4.25% 9/05 R BND CONV 07785GAC4 11963 8,250,000 PRN SOLE 0 0 0
BELL ATLANTIC FINANCIAL 5. BND CONV 07785GAB6 758 750,000 PRN SOLE 0 0 0
BELL ATLANTIC FINL 4.25% BND CONV 07785GAC4 34713 23,940,000PRN SOLE 0 0 0
BENCHMARK ELECTRONICS INC BND CONV 08160HAA9 3552 3,325,000 PRN SOLE 0 0 0
CINCINNATI FINL COR 5.5% 5 BND CONV 172062AB7 5299 2,095,000 PRN SOLE 0 0 0
CIRRUS LOGIC INC 6% 12/15/ BND CONV 172755AC4 4715 5,070,000 PRN SOLE 0 0 0
CIRRUS LOGIC INC 6% 144 BND CONV 172755AA8 1302 1,400,000 PRN SOLE 0 0 0
CNET INC 5% 3/06 BND CONV 125945AC9 4406 3,000,000 PRN SOLE 0 0 0
COEUR D ALENE MINES 7.25% BND CONV 192108AF5 1267 2,585,000 PRN SOLE 0 0 0
COEUR D ALENE MINES 7.25% BND CONV 192108AG3 1340 2,735,000 PRN SOLE 0 0 0
CONEXANT SYSTEMS 4% 2/07 1 BND CONV 207142AD2 1358 1,500,000 PRN SOLE 0 0 0
CONEXANT SYSTEMS INC 4.25% BND CONV 207142AA8 3129 1,000,000 PRN SOLE 0 0 0
COR THERAPEUTICS 5% 3/07 BND CONV 217753AC6 9990 9,000,000 PRN SOLE 0 0 0
CRITICAL PATH INC 5.75% 14 BND CONV 22674VAA8 1776 1,750,000 PRN SOLE 0 0 0
CURAGEN CORP CONVERT SUB 1 BND CONV 23126RAA9 2661 3,050,000 PRN SOLE 0 0 0
DIGITAL ISLAND INC 2/05 6% BND CONV 25385NAA9 10281 14,687,000PRN SOLE 0 0 0
DOUBLECLICK INC 4.75% 3/06 BND CONV 258609AA4 3257 1,400,000 PRN SOLE 0 0 0
DOUBLECLICK INC 4.75% 3/06 BND CONV 258609AC0 4071 1,750,000 PRN SOLE 0 0 0
E TRADE GROUP INC 6% 144 BND CONV 269246AA2 14185 10,000,000PRN SOLE 0 0 0
EARTHWEB INC 7% 1/05 BND CONV 27032CAA6 587 750,000 PRN SOLE 0 0 0
ECHOSTAR COMMUNICATIONS 4. BND CONV 278762AB5 6423 3,500,000 PRN SOLE 0 0 0
EMCOR GROUP INC 5.75% BND CONV 29084QAC4 2444 2,600,000 PRN SOLE 0 0 0
ETOYS INC 6.25% 12/04 144a BND CONV 297862AA2 2683 6,625,000 PRN SOLE 0 0 0
GENZYME CORP 5.25% BND CONV 372917AF1 2205 1,500,000 PRN SOLE 0 0 0
GILAT SATELLITE NETWORKS 4 BND CONV 375255AC0 1769 2,000,000 PRN SOLE 0 0 0
GILAT SATELLITE NETWORKS 6 BND CONV 375255AB2 11145 3,960,000 PRN SOLE 0 0 0
GLOBAL TELESYSTEM GROUP 5. BND CONV 37936UAE4 9949 11,375,000PRN SOLE 0 0 0
HMT TECHNOLOGY CORP SUB NT BND CONV 403917AD9 2310 5,500,000 PRN SOLE 0 0 0
HOMEBASE INC 5.25% 11/01/0 BND CONV 43738EAB4 2193 4,125,000 PRN SOLE 0 0 0
HOMEBASE INC 5.25% 11/1/04 BND CONV 43738EAA6 1064 2,000,000 PRN SOLE 0 0 0
HUMAN GENOME SCIENCES 3.7 BND CONV 444903AG3 766 1,250,000 PRN SOLE 0 0 0
HUMAN GENOME SCIENCES INC BND CONV 444903AE8 3433 3,825,000 PRN SOLE 0 0 0
HUTCHINSON TECHNOLOGY 6% BND CONV 448407AC0 1922 2,375,000 PRN SOLE 0 0 0
hyperion/ARBOR SOFTWARE 3/ BND CONV 038918AC2 4108 5,000,000 PRN SOLE 0 0 0
IMCLONE SYSTEMS INC 5.5% 1 BND CONV 45245WAA7 2964 3,500,000 PRN SOLE 0 0 0
INCYTE PHARMACEUTICALS INC BND CONV 45337CAA0 4517 5,500,000 PRN SOLE 0 0 0
INGRAM MICRO INC 0% 6/9/18 BND CONV 457153AB0 6825 19,500,000PRN SOLE 0 0 0
INHALE THERAPEUTIC 5% 144A BND CONV 457191AD6 11529 10,750,000PRN SOLE 0 0 0
INTERMAGNETICS GENERAL COR BND CONV 458771AB8 3735 3,090,000 PRN SOLE 0 0 0
INTERNET CAPITAL GROUP 5.5 BND CONV 46059CAA4 28400 32,000,000PRN SOLE 0 0 0
INVITROGEN CORP 5.5% 3/07 BND CONV 46185RAA8 5375 6,250,000 PRN SOLE 0 0 0
ITC DELTACOM IND 4.5% 5/15 BND CONV 45031TAK0 2592 1,750,000 PRN SOLE 0 0 0
KELLSTROM INDS INC 6/03 5. BND CONV 488035AE6 359 670,000 PRN SOLE 0 0 0
KULICKE & SOFFA INDS 4.75% BND CONV 501242AC5 1923 1,250,000 PRN SOLE 0 0 0
LEVEL 3 COMMUNICATIONS INC BND CONV 52729NAG5 30605 17,550,000PRN SOLE 0 0 0
LIBERTY MEDIA 4% 11/15/29 BND CONV 530715AG6 1556 1,000,000 PRN SOLE 0 0 0
LOEWS CORP 3.125% BND CONV 540424AL2 2618 2,981,000 PRN SOLE 0 0 0
MAIL COM INC 7% 2/05 144 BND CONV 560311AA0 1269 1,250,000 PRN SOLE 0 0 0
MAY & SPEH 5.25% BND CONV 577777AA3 8603 4,949,000 PRN SOLE 0 0 0
METAMOR WORLDWIDE 2.94% 8/ BND CONV 59133PAA8 3805 4,450,000 PRN SOLE 0 0 0
MILLENNIUM PHARM 1/07 5.5% BND CONV 599902AA1 4176 4,463,000 PRN SOLE 0 0 0
MRV COMMUNICATION INC 5% BND CONV 553477AB6 3773 1,100,000 PRN SOLE 0 0 0
NEXSTAR PHARMACEUTICALS 6. BND CONV 65333BAC0 10242 6,897,000 PRN SOLE 0 0 0
NEXTEL COMMUNICATIONS 4.75 BND CONV 65332VAR4 61155 19,000,000PRN SOLE 0 0 0
NEXTEL COMMUNICATIONS INC BND CONV 65332VAT0 3219 1,000,000 PRN SOLE 0 0 0
NTL INC 5.75% 12/09 144a BND CONV 629407AN7 10812 10,500,000PRN SOLE 0 0 0
NTL INC 7% 144 BND CONV 629407AK3 14866 6,000,000 PRN SOLE 0 0 0
PETSMART INC 144 6.75% 11/ BND CONV 716768AA4 2614 4,250,000 PRN SOLE 0 0 0
PETSMART INC 6.75% 11/1/20 BND CONV 716768AB2 1588 2,582,000 PRN SOLE 0 0 0
PREMIERE TECHNOLOGIES INC BND CONV 74058FAC6 3407 5,099,000 PRN SOLE 0 0 0
PRIMUS TELECOMMUN 5.75% 14 BND CONV 741929AK9 7747 6,650,000 PRN SOLE 0 0 0
QUINTILES TRANSNATIONAL CO BND CONV 748767AC4 7430 7,477,000 PRN SOLE 0 0 0
READ-RITE CORP 10% 9/04 BND CONV 755246AB1 7289 7,077,000 PRN SOLE 0 0 0
REDBACK NETWORKS INC 5% 14 BND CONV 757209AA9 2425 2,500,000 PRN SOLE 0 0 0
RES-CARE INC CONV SUB NOTE BND CONV 760943AC4 490 750,000 PRN SOLE 0 0 0
SEPRACOR INC 5% 144A BND CONV 817315AJ3 2654 2,750,000 PRN SOLE 0 0 0
SIMULA INC 8% 5/1/04 BND CONV 829206AB7 908 1,590,000 PRN SOLE 0 0 0
SIRIUS/CD RADIO INC 8.75% BND CONV 125127AJ9 13757 6,369,000 PRN SOLE 0 0 0
SPORTSLINE USA INC 5% BND CONV 848934AC9 2452 3,164,000 PRN SOLE 0 0 0
STANDARD MOTOR PRODUCTS 6. BND CONV 853666AB1 956 1,250,000 PRN SOLE 0 0 0
SUNGLASS HUT INTL 5.25% 6/ BND CONV 86736FAC0 770 1,000,000 PRN SOLE 0 0 0
sunterra/SIGNATURE RESORTS BND CONV 82668BAA4 309 1,885,000 PRN SOLE 0 0 0
TELEFONOS DE MEXICO 4.25% BND CONV 879403AD5 28812 19,100,000PRN SOLE 0 0 0
TEL-SAVE HOLDING INC 5% BND CONV 879176AF2 1606 1,950,000 PRN SOLE 0 0 0
TEL-SAVE HOLDINGS 4.5% 09/ BND CONV 879176AC9 2939 3,750,000 PRN SOLE 0 0 0
TRANS WORLD AIRLINES 12% BND CONV 893349BG4 3555 4,550,000 PRN SOLE 0 0 0
VANTIVE CORP 4.75% 9/02 BND CONV 922091AC7 3095 3,684,000 PRN SOLE 0 0 0
VENTRO CORP 6% 4/1/07 BND CONV 922815AA3 3000 4,000,000 PRN SOLE 0 0 0
VENTRO CORPORATION 6% 4/07 BND CONV 922815AA3 563 750,000 PRN SOLE 0 0 0
VERITAS SOFTWARE 5.25% 11/ BND CONV 923436AB5163865 11,918,000PRN SOLE 0 0 0
WORLD ACCESS INC 4.5% BND CONV 98141AAA9 1804 2,120,000 PRN SOLE 0 0 0
WORLD ACCESS INC 4.5% BND CONV 98141AAC5 8124 9,545,000 PRN SOLE 0 0 0
3COM CORP COM 885535104 595 10,700 SH SOLE 10,700 0 0
ADVANTA CORP-CL B NON-VTG COM 007942204 1913 132,100 SH SOLE 0 0 13210
ALBERTO CULVER CO-CL A COM 013068200 1027 46,938 SH SOLE 46,938 0 0
ALTERNATIVE TECHNOLOGY COM 02145H104 265 37,500 SH SOLE 37,500 0 0
ALZA CORP COM 022615108 751 20,000 SH SOLE 20,000 0 0
AMDOCS AUTOMATIC COM EXCHA COM 02342R202 8494 137,000 SH SOLE 137,00 0 0
AMERICAN INTERNATIONAL GRO COM 026874107 230 2,100 SH SOLE 2,100 0 0
ARDEN REALTY GROUP INC COM 039793104 3028 145,050 SH SOLE 145,05 0 0
BANCO GANADERO SA-SPONSORE COM 059594408 385 32,781 SH SOLE 32,781 0 0
BIOGEN INC COM 090597105 2103 30,100 SH SOLE 30,100 0 0
BOEING CO COM 097023105 892 23,500 SH SOLE 23,500 0 0
BRISTOL MEYERS COM 110122108 2570 44,500 SH SOLE 44,500 0 0
CABLE & WIRELESS COMMUNI- COM 12682P104 634 7,456 SH SOLE 7,456 0 0
CATERPILLAR INC COM 149123101 6858 173,900 SH SOLE 173,90 0 0
CHASE MANHATTEN CORP COM 16161AI08 6591 75,600 SH SOLE 75,600 0 0
COMCAST CORP-CL A COM 200300101 722 17,500 SH SOLE 17,500 0 0
COMPUTER CONCEPTS CORP NEW COM 204897300 448 305,000 SH SOLE 305,00 0 0
EASTMAN KODAK CO COM 277461109 5133 94,500 SH SOLE 94,500 0 0
EXIDE CORP COM 302051107 354 30,000 SH SOLE 30,000 0 0
FLOWERS INDUSTRIES INC COM 343496105 297 19,566 SH SOLE 19,566 0 0
FORD MOTOR CO COM 345370100 3211 69,900 SH SOLE 69,900 0 0
GENERAL ELECTRIC CO COM 369604103 497 3,200 SH SOLE 3,200 0 0
GENERAL MOTORS CORP COM 370442105 11888 143,550 SH SOLE 143,55 0 0
GEORGIA PACIFIC CORP COM 373298108 1052 26,600 SH SOLE 26,600 0 0
HOMESTEAD VILLAGE PROPERTI COM 437851108 280 87,700 SH SOLE 87,700 0 0
INTERNATIONAL PAPER CO COM 460146103 1116 26,100 SH SOLE 26,100 0 0
JOHNSON & JOHNSON COM 478160104 1345 19,200 SH SOLE 19,200 0 0
KERR MCGEE CORP COM 492386305 988 21,950 SH SOLE 21,950 0 0
KEYCORP NEW COM 493267108 475 25,000 SH SOLE 25,000 0 0
LOEWS CORP COM 540424108 500 10,000 SH SOLE 10,000 0 0
LUCENT TECHNOLOGIES INC COM 549463107 407 6,700 SH SOLE 6,700 0 0
MCDERMOTT INTERNATIONAL IN COM 580037109 221 24,000 SH SOLE 24,000 0 0
MEDIAONE GROUP INC COM 912889201 6626 81,800 SH SOLE 81,800 0 0
MOLEX INC-CL A COM 608554200 4116 92,750 SH SOLE 92,750 0 0
MONSANTO CO COM 611662107 564 10,950 SH SOLE 10,950 0 0
NABISCO GROUP HLDG CORP COM 62952P102 277 23,100 SH SOLE 23,100 0 0
NAVISTAR INTERNATIONAL COR COM 63934E108 237 5,900 SH SOLE 5,900 0 0
NORTEL INVERSORA SA-10% MA COM 656567302 1500 25,000 SH SOLE 25,000 0 0
NTL INC COM 629407107 325 3,500 SH SOLE 3,500 0 0
PEPSICO INC COM 713448108 854 24,700 SH SOLE 24,700 0 0
RISCORP INC-CL A COM 767597107 230 94,500 SH SOLE 94,500 0 0
RYDER SYSTEM INC COM 783549108 760 33,500 SH SOLE 33,500 0 0
SEAGATE TECHNOLOGY INC COM 811804103 7236 120,103 SH SOLE 120,10 0 0
SENSORMATIC ELECTRONICS CO COM 817265606 375 18,280 SH SOLE 18,280 0 0
SILICON GRAPHICS INC COM 827056102 1088 103,000 SH SOLE 103,00 0 0
SNAP-ON INC COM 833034101 327 12,500 SH SOLE 12,500 0 0
SOURCE MEDIA INC NEW COM 836153304 351 25,550 SH SOLE 25,550 0 0
SPRINT CORP COM 852061100 586 9,300 SH SOLE 9,300 0 0
STARWOOD FINANCIAL INC COM 85569R104 768 43,598 SH SOLE 43,598 0 0
tele-com/AT&T COM 001957109 1266 22,507 SH SOLE 22,507 0 0
TELEPHONE & DATA SYSTEMS I COM 879433100 10043 90,475 SH SOLE 90,475 0 0
THERMO FIBERGEN INC COM 88355U109 8841 740,550 SH SOLE 740,55 0 0
TIME WARNER INC (HOLDING C COM 887315109 2000 20,000 SH SOLE 20,000 0 0
TREMONT CORP-DEL NEW COM 894745207 940 51,700 SH SOLE 51,700 0 0
U S WEST INC NEW COM 91273H101 2898 39,900 SH SOLE 39,900 0 0
VENTAS INC COM 92276F100 376 113,400 SH SOLE 113,40 0 0
WACKENHUT CORP COM SER A COM 929794105 645 46,300 SH SOLE 46,300 0 0
WACKENHUT CORP-SER B COM 929794303 1589 157,875 SH SOLE 157,87 0 0
WALT DISNEY CO HOLDING CO COM 254687106 765 18,500 SH SOLE 18,500 0 0
AES CORP MAY 60 CALL CALL 00130H9E7 963 50,000 SH CALL SOLE 0 0 0
AMERICAN POWER JUN 35 CALL CALL 0290669F6 390 40,000 SH CALL SOLE 0 0 0
AMERN EXPRESS APR 125 CALL CALL 0258169D3 488 20,000 SH CALL SOLE 0 0 0
AT&T CORP JAN 60 CALL 03018C9A7 569 70,000 SH CALL SOLE 0 0 0
AT&T CORP JUL 60 CALL 0019579G6 366 75,000 SH CALL SOLE 0 0 0
CHASE MNHATN JAN 100 CALL CALL 16161J9A9 450 50,000 SH CALL SOLE 0 0 0
CHASE MNHATN JAN 75 CALL 0 CALL 16161J9A9 400 20,000 SH CALL SOLE 0 0 0
CISCO SYSTEM APR 62.5 CALL CALL 45999W9D1 1210 80,000 SH CALL SOLE 0 0 0
CISCO SYSTEM JUL 65 CALL CALL 45999W9G4 869 50,000 SH CALL SOLE 0 0 0
CITIGROUP JUN 60 CALL CALL 1729679F0 254 55,000 SH CALL SOLE 0 0 0
CORNING INC JAN 100 CALL 0 CALL 2193529A1 2035 20,000 SH CALL SOLE 0 0 0
DELL COMPUTR AUG 47.5 CALL CALL 2470259H4 223 20,000 SH CALL SOLE 0 0 0
EASTMAN KODAK JAN 60 CALL CALL 2774649A3 219 50,000 SH CALL SOLE 0 0 0
ELAN CP PLC APR 40 CALL CALL 2841319D3 320 40,000 SH CALL SOLE 0 0 0
GAP INC JUN 50 CALL CALL 3647609F7 269 50,000 SH CALL SOLE 0 0 0
HOME DEPOT JAN 60 CALL CALL 4362909A0 525 40,000 SH CALL SOLE 0 0 0
INTEL CORP JUL 150 CALL CALL 4E399W9G1 710 80,000 SH CALL SOLE 0 0 0
INTEL CORP JUL 90 CALL CALL 4581409G7 893 20,000 SH CALL SOLE 0 0 0
L M ERICSSON APR 50 CALL CALL 2948219D7 1313 30,000 SH CALL SOLE 0 0 0
LIMITED INC MAY 35 CALL CALL 5327169E9 388 50,000 SH CALL SOLE 0 0 0
MCDONALDS SEP 40 CALL CALL 5801359I4 313 100,000 SH CALL SOLE 0 0 0
MERRIL LYNCH APR 100 CALL CALL 5901889D2 394 50,000 SH CALL SOLE 0 0 0
MICRON TECH APR 125 CALL CALL 5951129D7 233 25,500 SH CALL SOLE 0 0 0
MICRON TECH JUL 140 CALL CALL 5951129G0 438 25,400 SH CALL SOLE 0 0 0
MOTOROLA INC JUL 160 CALL CALL 49899W9G7 345 20,000 SH CALL SOLE 0 0 0
ORACLE CORP JUN 80 CALL CALL 64599W9F1 519 50,000 SH CALL SOLE 0 0 0
ORACLE CORP JUN 90 CALL CALL 64599W9F1 293 45,000 SH CALL SOLE 0 0 0
QWEST COMMUN APR 40 CALL CALL 7491229D1 213 25,000 SH CALL SOLE 0 0 0
QWEST COMMUN JUL 40 CALL CALL 7491239G2 564 55,000 SH CALL SOLE 0 0 0
SCHWAB CORP JUN 50 CALL CALL 8085139F4 1075 100,000 SH CALL SOLE 0 0 0
SPRINT CORP JAN 27.5 CALL CALL 8519279A3 1595 40,000 SH CALL SOLE 0 0 0
TEXAN INSTRS JAN 70 CALL 0 CALL 8825109A0 4688 50,000 SH CALL SOLE 0 0 0
TEXAN INSTRS JAN 80 CALL 0 CALL 8825109A0 2580 30,000 SH CALL SOLE 0 0 0
WILLIAMS CO JAN 50 CALL 01 CALL 9689089A3 320 62,500 SH CALL SOLE 0 0 0
ADELPHIA COMMUNICATIONS PF PFD CONV 006848402 19802 129,000 SH SOLE 129,00 0 0
APARTMENT INVT & MGMT CO P PFD CONV 03748R705 7580 306,250 SH SOLE 306,25 0 0
AVADO FINANCING I TERM SEC PFD CONV 037856309 2649 132,425 SH SOLE 132,42 0 0
BANCO GANADERO SA-SPONSORE PFD CONV 059594507 1024 128,000 SH SOLE 128,00 0 0
BETHLEHEM STEEL CORP PREF PFD CONV 087509501 8712 313,943 SH SOLE 313,94 0 0
CANADIAN NATIONAL RAILWAY PFD CONV 136375409 1402 32,900 SH SOLE 32,900 0 0
CAREMARK RX CAP TR I PFD CONV 14170K209 370 10,000 SH SOLE 10,000 0 0
CENTRAL PARKING FIN TR 5.2 PFD CONV 154787303 415 31,850 SH SOLE 31,850 0 0
CEPHALON CONV EXCH PFRD PFD CONV 156708406 7298 67,500 SH SOLE 67,500 0 0
CHIQUITA BRANDS INTERNATIO PFD CONV 170032502 1734 82,800 SH SOLE 82,800 0 0
CHIQUITA BRANDS INTL PRD A PFD CONV 170032403 764 45,600 SH SOLE 45,600 0 0
COX COMMUNICATIONS INC NEW PFD CONV 224044503 6050 50,000 SH SOLE 50,000 0 0
CRAIG CORP-CL A PREF PFD CONV 224174201 216 48,600 SH SOLE 48,600 0 0
CRESCENT REAL ESTATE EQ PF PFD CONV 22575N207 4285 302,000 SH SOLE 302,00 0 0
CROWN CASTLE DEC TR V PFD CONV 24366F203 3395 102,500 SH SOLE 102,50 0 0
EQUITY OFFICE PROPERTIES P PFD CONV 294741509 2793 73,500 SH SOLE 73,500 0 0
ESTEE LAUDER AUTOMATIC COM PFD CONV 518437207 1798 20,200 SH SOLE 20,200 0 0
FEDERAL MOGUL FINANCING TR PFD CONV 313552200 3527 118,050 SH SOLE 118,05 0 0
FIRST UNION REAL ESTATE EQ PFD CONV 337400303 1069 53,800 SH SOLE 53,800 0 0
FREEPORT MCMORAN COPPER & PFD CONV 35671D501 1521 102,700 SH SOLE 102,70 0 0
GENERAL GROWTH PPTYS INCPF PFD CONV 370021206 15503 738,230 SH SOLE 738,23 0 0
GLOBAL CROSSING LTD 7% PFR PFD CONV 37932J301 728 3,000 SH SOLE 3,000 0 0
GLOBAL CROSSING PFRD 6.375 PFD CONV 37932J202 5525 50,000 SH SOLE 50,000 0 0
GLOBAL TELESYSTEMS GROUP P PFD CONV 37936U401 5118 135,000 SH SOLE 135,00 0 0
GLOBAL TELESYSTEMS GROUP P PFD CONV 37936U609 5403 142,500 SH SOLE 142,50 0 0
GLOBALSTAR TELECOMMUN 9% 1 PFD CONV 379364870 1342 42,300 SH SOLE 42,300 0 0
HERBALIFE DEC TRUST III PFD CONV 243665205 4242 326,300 SH SOLE 326,30 0 0
HERCULES TR II PFD CONV 427098306 5829 10,050 SH SOLE 10,050 0 0
HOST MARRIOTT FINANCIAL TR PFD CONV 441079407 1717 54,700 SH SOLE 54,700 0 0
ICG FUNDING LLC-6.75% EXCH PFD CONV 44924Q202 3213 41,500 SH SOLE 41,500 0 0
ICG FUNDING LLC-6.75% EXCH PFD CONV 44924Q400 12835 165,788 SH SOLE 165,78 0 0
imc/MERRILL LYNCH INC 6.25 PFD CONV 590188751 1187 69,850 SH SOLE 69,850 0 0
inacom/VANSTAR FING TRUST PFD CONV 92208Q307 1015 126,850 SH SOLE 126,85 0 0
INGERSOLL-RAND CO/INGERSOL PFD CONV 456867209 931 39,600 SH SOLE 39,600 0 0
INTERMEDIA COMM PFRD D PFD CONV 458801701 11291 180,300 SH SOLE 180,30 0 0
INTERMEDIA COMM PFRD E PFD CONV 458801834 14676 358,500 SH SOLE 358,50 0 0
INTERMEDIA COMM PFRD E 144 PFD CONV 458801867 7225 176,500 SH SOLE 176,50 0 0
INTERMEDIA COMM PFRD F PFD CONV 458801792 18038 555,000 SH SOLE 555,00 0 0
INTERMEDIA COMM PFRD F 144 PFD CONV 458801826 8182 251,750 SH SOLE 251,75 0 0
IT GROUP INC DEP SHARES PFD CONV 460465305 296 16,700 SH SOLE 16,700 0 0
K MART FINANCING TRUST PFD CONV 498778208 11018 255,850 SH SOLE 255,85 0 0
KEMPER HIGH INCOME TRUST-S PFD CONV 48841G106 2452 301,733 SH SOLE 301,73 0 0
KIMCO REALTY CORP 7.50% CV PFD CONV 49446R877 1506 64,100 SH SOLE 64,100 0 0
LABORATORY CORP OF AMERICA PFD CONV 50540R201 390 5,000 SH SOLE 5,000 0 0
LINCOLN NATIONAL CORP 7.25 PFD CONV 534187604 986 48,700 SH SOLE 48,700 0 0
LORAL SPACE & COMMS LTD PFD CONV 543885602 628 18,750 SH SOLE 18,750 0 0
LTV CORP NEW PFRD PFD CONV 501921209 1728 32,500 SH SOLE 32,500 0 0
MAXTOR DECS TRUST IV PFD CONV 243664208 3279 273,250 SH SOLE 273,25 0 0
MCLEODUSA INC PFRD PFD CONV 582266201 51726 69,900 SH SOLE 69,900 0 0
MEDIAONE GROUP INC (PIES) PFD CONV 58440J500 4597 88,400 SH SOLE 88,400 0 0
MEDPARTNERS INC (NEW)-6.50 PFD CONV 58503X206 270 40,700 SH SOLE 40,700 0 0
MGC COMMUNICATIONS INC 7.2 PFD CONV 552763500 12789 203,000 SH SOLE 203,00 0 0
NATIONAL AUSTRALIA BANK 7. PFD CONV 632525309 2875 118,850 SH SOLE 118,85 0 0
NEWELL FINL TR I PFD CONV 651195307 3405 93,293 SH SOLE 93,293 0 0
NEXTEL STRYPES TR-STRUCTUR PFD CONV 65332Y107 9350 74,800 SH SOLE 74,800 0 0
OMNIPOINT CORP DEP SHRS PFD CONV 68212D300 7366 40,000 SH SOLE 40,000 0 0
OMNIPOINT CORP DEPOSITARY PFD CONV 68212D607 46084 250,250 SH SOLE 250,25 0 0
OWENS & MINOR CV TRUST GTD PFD CONV 690905302 1051 32,850 SH SOLE 32,850 0 0
OWENS CORNING CAPITAL LLC PFD CONV 690733209 2069 60,000 SH SOLE 60,000 0 0
PEGASUS COMMUNICATIONS PFR PFD CONV 705904407 12330 100,000 SH SOLE 100,00 0 0
PHILADELPHIA CONSOLIDATED PFD CONV 717528301 1269 175,000 SH SOLE 175,00 0 0
PIONEER STANDARD ELECTRO 6 PFD CONV 723879300 2372 41,800 SH SOLE 41,800 0 0
POGO TR I PFD CONV 73044P208 816 12,500 SH SOLE 12,500 0 0
PRICE ENTERPRISES INC 8.75 PFD CONV 741444301 661 46,400 SH SOLE 46,400 0 0
PSINET INC PFRD PFD CONV 74437C309 7539 121,600 SH SOLE 121,60 0 0
PSINET INC PFRD SER D 144A PFD CONV 74437C408 11728 279,150 SH SOLE 279,15 0 0
RECKSON ASSOCIATES REALTY PFD CONV 75621K205 1237 65,300 SH SOLE 65,300 0 0
RHYTHMS NETCONNECTIONS PFR PFD CONV 762430304 1470 15,000 SH SOLE 15,000 0 0
ROUSE CO-CONV PFD SER B PFD CONV 779273309 2164 69,250 SH SOLE 69,250 0 0
SEAGRAM LTD 7.5% PFRD PFD CONV 811850205 4407 79,400 SH SOLE 79,400 0 0
SEALED AIR CORP NEW-$2 CON PFD CONV 81211K209 5917 113,925 SH SOLE 113,92 0 0
SENSORMATIC ELECTRONICS PF PFD CONV 817265200 1919 62,400 SH SOLE 62,400 0 0
SL GREEN REALTY CORP PFD PFD CONV 78440X200 12985 509,200 SH SOLE 509,20 0 0
SNYDER STRYPES TRUST-6.50% PFD CONV 833502107 5193 196,900 SH SOLE 196,90 0 0
SOVEREIGN BANCORP INC PFRD PFD CONV 845905306 8645 178,700 SH SOLE 178,70 0 0
SUIZA CAPITAL TRUST II PFD CONV 86507G408 2558 75,000 SH SOLE 75,000 0 0
SUPERIOR TR I PFD CONV 8.5 PFD CONV 86836P202 4604 148,512 SH SOLE 148,51 0 0
TDS CAPITAL II-8.04% TRUST PFD CONV 87235R203 401 20,000 SH SOLE 20,000 0 0
TESORO PETE CORP PFRD PFD CONV 881609408 303 25,000 SH SOLE 25,000 0 0
TIMET CAPITAL 6.6 PFD CONV 887381408 210 23,250 SH SOLE 23,250 0 0
TOWER AUTOMOTIVE CAP TRUST PFD CONV 891706301 2555 69,250 SH SOLE 69,250 0 0
TRANS WORLD AIRLINES PFRD PFD CONV 893349738 695 47,500 SH SOLE 47,500 0 0
TRIKON TRCH SER H PFRD PFD CONV 896187200 538 74,250 SH SOLE 74,250 0 0
UNION PACIFIC TR PFRD PFD CONV 907824403 9789 247,100 SH SOLE 247,10 0 0
UNITEDGLOBAL DEP SHRS PFD CONV 913247201 9076 95,000 SH SOLE 95,000 0 0
UNITEDGLOBAL DEP SHRS 144 PFD CONV 913247102 2388 25,000 SH SOLE 25,000 0 0
UNITEDGLOBALCOM DEPOSITARY PFD CONV 913247805 3724 55,000 SH SOLE 55,000 0 0
USX CAPITAL TRUST I-6.75% PFD CONV 90339E201 893 24,500 SH SOLE 24,500 0 0
VERIO INC 6.75% PFRD PFD CONV 923433304 3791 69,000 SH SOLE 69,000 0 0
WHX CORP-CONV PFD SER A PFD CONV 929248201 4300 159,250 SH SOLE 159,25 0 0
WINSTAR COMMUNICATIONS 6% PFD CONV 975515602 18230 194,767 SH SOLE 194,76 0 0
WINSTAR COMMUNICATIONS INC PFD CONV 975515875 7652 81,650 SH SOLE 81,650 0 0
WINSTAR COMMUNICATIONS INC PFD CONV 975515859 22405 14,390 SH SOLE 14,390 0 0
XM SATELLITE RADIO HLDGS I PFD CONV 983759200 2317 42,375 SH SOLE 42,375 0 0
CENDANT CORPORATION RTS RIGHT 151313111 975 86,650 SH SOLE 86,650 0 0
THERMO FIBERGEN INC RTS RIGHT 88355U117 807 890,250 SH SOLE 890,25 0 0
BIOVAIL CORP INTL NEW WTS WARR 09067K114 1168 22,900 SH SOLE 0 0 0
DIGITAL LAVA WTS WARR 253928113 393 68,300 SH SOLE 0 0 0
FEDERATED DEPT WTS D WARR 31410H127 1828 107,500 SH SOLE 0 0 0
GOLDEN STATE BANCORP WTS WARR 381197128 741 150,000 SH SOLE 0 0 0
HEMISPERX BIOPHARMA INC A WARR 42366C111 468 68,000 SH SOLE 0 0 0
NEOTHERAPEUTICS INC WTS WARR 640656112 520 69,300 SH SOLE 0 0 0
NEOWARE SYSTEMS INC WTS WARR 64065P110 204 86,100 SH SOLE 0 0 0
SUPERGEN INC WTS WARR 868059114 963 25,000 SH SOLE 0 0 0
TEXAS BIOTECHNOLOGY CORP W WARR 88221T112 418 68,300 SH SOLE 0 0 0
</TABLE>
608,968,910
