NAME OF ISSUER TITLE OF CLASS CUSIP VALUE(K) SH/P
AMC ENTMT INC NOTE 9.500 3/1 001669AG5 1781 1850000
AT&T CORP COM LIB GRP A 001957208 4159 79080 SH
ABERCROMBIE & FITCH CO CL A 002896207 3631 39356 SH
ABERCROMBIE & FITCH CO CALL OPT MAY 9 002896207 369 4000 SH
ACTIVISION INC NEW COM NEW 004930202 115 9275 SH
ACTIVISION INC CALL OPT APR 1 004930202 248 20000 SH
ADVANCED GAMING TECHNOLO COM NEW 00753F204 1 60000 SH
AHMANSON H F & CO NOTE 7.875 9/0 008677AB2 1131 1065000
AIRTOUCH COMMUNICATNS NOTE 7.000 10/0 00949TAC4 156 150000
AIRTOUCH COMMUNICATNS NOTE 6.650 5/0 00949TAD2 1031 1000000
ALLIANCE CONSUMER INTL I COMMON 018566109 24 20000 SH
ALLIANCE GAMING CORP NOTE 10.000 8/0 01859PAG9 5464 7750000
ALPHA INDS INC COMMON 020753109 2903 158000 SH
AMERICA ONLINE INC DEL COMMON 02364J104 470 3200 SH
AMERICAN AXLE & MFG INC NOTE 9.750 3/0 02406PAA8 5086 4950000
AMERICAN EXPRESS CO COMMON 025816109 236 2000 SH
AMERICAN GENERAL CORP NOTE 7.700 10/1 026351AP1 50 49000
AMERICAN GENERAL FINANCE NOTE 5.875 7/1 02635KCJ1 3263 3250000
AMERICAN HOME PRODS CORP COMMON 026609107 248 3800 SH
AMERICAN INTL GROUP INC COMMON 026874107 6347 52615 SH
AMERICAN INTL GROUP CALL OPT APR 12 026874107 603 5000 SH
AMERISTAR CASINOS INC NOTE 10.500 8/0 03070QAC5 1000 1000000
AMERIKING INC NOTE 10.750 12/0 03071GAA0 14204 13400000
AMERISTEEL CORP NOTE 8.750 4/1 03071VAE9 6035 5975000
AMERISERVE FOOD DISTR IN NOTE 8.875 10/1 03072JAC9 5901 6725000
AMPHENOL CORP NOTE 9.875 5/1 032094AD6 1045 1000000
ASCENT ENTMT GROUP INC NOTE 12/1 043628AC0 4290 6500000
ASSOCIATES CORP N A SR M MTNF 6.125 11/0 045903Q95 65 65000
ASSOCIATES CORP NTH AMER MTNF 6.400 10/2 045906KP8 50 49000
AT HOME CORP COM SER A 045919107 79 500 SH
ASSOCIATES CORP NORTH AM NOTE 5.850 1/1 046003JG5 1156 1150000
AURA SYS INC COMMON 051526101 6 15000 SH
BRE PROPERTIES INC NOTE 7.125 2/1 05564EBA3 975 1000000
BMC SOFTWARE INC COMMON 055921100 4983 134450 SH
BMC SOFTWARE INC CALL OPT APR 4 055921100 297 8000 SH
BMC SOFTWARE INC CALL OPT MAY 4 055921100 297 8000 SH
BANKAMERICA CORP NOTE 8.375 3/1 066050BQ7 157 148000
BANKAMERICA CORP NOTE 7.750 7/1 066050BS3 52 50000
BANKAMERICA CORP NOTE 7.125 5/0 066050CK9 105 100000
BANKAMERICA CORP NOTE 5.875 2/1 066050CV5 242 250000
BANKAMERICA CORP NEW COMMON 06605F102 4887 69192 SH
BANKBOSTON NA SUB BK MTN MTNF 6.375 3/2 06606H8D2 150 150000
BANKBOSTON NA SUB BK MTN MTNF 6.375 4/1 06606HD87 1197 1200000
BANKERS TR CORP NOTE 7.375 5/0 066365CC9 1312 1250000
BEAR STEARNS COS INC NOTE 6.750 8/1 073902AT5 253 250000
BENEDEK COMMUNICATIONS C NOTE 5/1 08170WAC0 4940 6500000
BIG V SUPERMARKETS INC NOTE 11.000 2/1 089698AB0 2070 2000000
BOEING CO NOTE 8.100 11/1 097023AF2 55 50000
BOSTON CHICKEN INC COMMON 100578103 2 2500 SH
BRISTOL MYERS SQUIBB CO COMMON 110122108 192 3000 SH
BROADVISION INC COMMON 111412102 4937 82621 SH
BROADVISION INC CALL OPT MAY 6 111412102 657 11000 SH
BURLINGTON COAT FACTRY COMMON 121579106 24 2000 SH
CDNOW N2K INC COMMON 125086108 114 7071 SH
CMGI INC COMMON 125750109 222 1215 SH
CSC HOLDINGS INC 11.125% SERIES M 126304401 8890 77639
CSK AUTO INC NOTE 11.000 11/0 12637KAB7 12161 11500000
CSX CORP NOTE 6.250 10/1 126408BR3 246 250000
CVS CORP COMMON 126650100 10 200 SH
CAPSTAR BROADCASTING PAR NOTE 2/0 14066PAC0 767 900000
CARDINAL HEALTH INC COMMON 14149Y108 3952 59875 SH
CARNIVAL CORP NOTE 6.150 10/0 143658AE2 98 97000
CARPENTER W R NORTH AMER NOTE 10.625 6/1 144269AC1 11094 11150000
CASINO AMER INC NOTE 12.500 8/0 147575AD6 2634 2300000
CATERPILLAR FINL SVCS MT MTNF 5.470 9/1 14912LZV6 3233 3250000
CENTURY COMMUNICATIONS C ZERO CPN 3/1 156503AF1 720 1000000
CHANCELLOR MEDIA CORP LA NOTE 9.375 10/0 158916AA4 4200 4005000
CHANCELLOR MEDIA CORP LA NOTE 9.000 10/0 158916AJ5 9304 8675000
CHANNELL COML CORP COMMON 159186105 972 106500 SH
CHARTER COMMUNICATIONS H NOTE 8.250 4/0 16117PAA8 2147 2100000
CHARTER COMMUNICATIONS H NOTE 4/0 16117PAC4 7289 11300000
CHASE MANHATTAN CORP NEW NOTE 6.500 1/1 16161ABK3 202 200000
CHATWINS GRP INC DEB 13.000 05/0 162468AE2 9662 9650000
CHEMICAL NEW YORK CORP NOTE 9.750 6/1 163798AH4 66 65000
CHEROKEE INC DEL NEW COMMON 16444H102 0 2 SH
CHEVY CHASE SVGS BK F S NOTE 9.250 12/0 166784AE8 5050 5025000
CHEVY CHASE SVGS BK F S SDEB 9.250 12/0 166784AF5 5025 5000000
CHICAGO PIZZA & BREWERY COMMON 167889104 18 12500 SH
CHICAGO PIZZA & BREWERY *W EXP 10/09/02 167889104 40 27500
CISCO SYS INC COMMON 17275R102 7693 70218 SH
CITADEL BROADCASTING CO NOTE 9.250 11/1 17285EAE9 7568 7040000
CIRCUS CIRCUS ENTERPRISE NOTE 6.450 2/0 172909AG8 1343 1450000
CIRCUS CIRCUS ENTERPRISE NOTE 9.250 12/0 172909AK9 2822 2700000
CRS BOND PORTFOLIO UNITS COMMON 172992109 23 225 SH
CITICORP NOTE 7.125 9/0 173034GP8 85 81000
CLARK MATL HANDLING CO NOTE 10.750 11/1 181475AD6 6614 6500000
CLIFFS DRILLING CO NOTE 10.250 5/1 18682CAF7 2895 3000000
COCA COLA CO COMMON 191216100 172 2800 SH
COCA COLA 0% 6/28/99 COMM 19121ETU7 5397 5465000
CODMAN GROUP, INC. COMMON 191990100 973 2630090 SH
COINMACH CORP NOTE 11.750 11/1 192596AE4 14017 12685000
COLGATE-PALMOLIVE CO COMMON 194162103 3790 41200 SH
COLUMBIA ENERGY GROUP DEB 6.800 11/2 197648CA4 258 250000
COMERICA INC COMMON 200340107 94 1500 SH
COMMONWEALTH EDISON CO MTG 7.000 7/0 202795FL9 260 250000
COMPUSA INC CALL OPT MAY 204932107 140 20000 SH
CONSOLIDATED EDISON CO N DEB 6.150 7/0 209111CZ4 520 500000
CONTINENTAL CABLEVISION NOTE 8.300 5/1 211177AM2 110 100000
DEAN WITTER DISCOVER & C NOTE 6.875 3/0 24240VAC5 67 65000
DEL MONTE CORP NOTE 12.250 4/1 245217AH7 2802 2469000
DEL MONTE FOODS CO NOTE 12/1 24522PAC7 2381 3185000
DELL COMPUTER CORP COMMON 247025109 4188 102470 SH
DIGITAL VIDEO SYS INC COMMON 25387R100 11 8612 SH
DISNEY WALT COMPANY COMMON 254687106 3801 122134 SH
DOUBLECLICK INC COMMON 258609304 91 500 SH
DRYPERS CORP NOTE 10.250 6/1 262497AG5 13195 13745000
E M C CORP MASS COMMON 268648102 16 125 SH
EOP OPER LTD PARTNERSHIP NOTE 6.500 1/1 268766BE1 249 250000
E TRADE GROUP INC COMMON 269246104 3172 54400 SH
E*TRADE GROUP INC CALL OPT APR 6 269246104 583 10000 SH
EARTHSHELL CORP COMMON 27032B100 434 44516 SH
EARTHSHELL CORP CALL OPT MAY 1 27032B100 98 10000 SH
EARTHSHELL CORP CALL OPT JUL 1 27032B100 98 10000 SH
EBAY INC COMMON 278642103 43 315 SH
ECHOSTAR 9.25 2/1/06 SR N 27876GAD0 1034 1000000
ECHOSTAR DBS CORP NOTE 9.375 2/0 27876GAF5 7323 7050000
ENGLE HOMES INC NOTE 9.250 2/0 292896AH0 11162 11275000
ENTERTAINMENT INTERNET I COMMON 29380Q101 34 10000 SH
EXIDE CORP NOTE 10.000 4/1 302051AE7 5473 5500000
F M C CORP DEB 7.750 7/0 302491AL9 78 75000
FELCOR SUITES L P NOTE 7.625 10/0 313917AF3 92 100000
FIRST INTST BANCORP NOTE 9.125 2/0 320548BK5 55 49000
FIRST INTST BANCORP MTN MTNF 9.375 1/2 32055CAF7 36 33000
FIRST UN CORP NOTE 6.875 9/1 337358BC8 206 200000
FORD MOTOR CR CO NOTE 8.875 6/1 345397FW8 101 100000
FORD MOTOR CR CO NOTE 6.375 11/0 345397GZ0 251 250000
FORD MOTOR CR CO NOTE 6.500 2/1 345397HD8 102 100000
FORD MOTOR CR CO NOTE 6.250 12/0 345397NJ8 998 995000
FORD MOTOR CR CO NOTE 6.550 9/1 345397RS4 204 200000
FORD MOTOR CR CO NOTE 5.800 1/1 345397SG9 625 650000
FOUR SEASONS HOTEL INC LTD VTG SH 35100E104 5097 122088 SH
FOX FAMILY WORLDWIDE INC NOTE 11/0 35138BAB2 3213 5000000
FOX ENTMT GROUP INC CL A 35138T107 3404 125500 SH
FOX ENTMT GROUP INC CALL OPT APR 3 35138T107 543 20000 SH
FRIENDLY ICE CREAM CORP COMMON 358497105 15 2500 SH
FRIENDLY ICE CREAM CORP NOTE 10.500 12/0 358497AA3 7178 7750000
FRONTIERVISION OPER PART NOTE 11.000 10/1 35921LAA3 393 350000
FRONTIERVISION HLDGS L P NOTE 9/1 35921QAB0 1740 2000000
GTE HAWAIIAN TELEPHONE C MTG 6.750 2/1 362335AB7 102 100000
GENERAL ELECTRIC CORP 0% 4/14/99 COMM 36959JRE5 1996 2000000
GENERAL ELECTRIC CO. COMMON 369604103 6713 60682 SH
GENERAL ELEC CAP CORP NOTE 7.875 12/0 369622DG7 341 305000
GENERAL MTRS ACCEP CORP NOTE 5.850 1/1 370425RD4 241 250000
GENERAL MOTORS ACCEP COR NOTE 6.750 3/1 370426AA6 82 80000
GENERAL MTRS ACCEP CORP MTNF 6.750 7/1 37042R4A7 67 65000
GENERAL MTRS ACCEP CORP MTNF 7.500 5/1 37042RS52 1659 1562000
GENESIS HEALTH VENTURES NOTE 9.250 10/0 371912AF3 3028 3500000
GILLETTE CO COMMON 375766102 178 3000 SH
GLENOIT CORP NOTE 11.000 4/1 378762AC2 9946 11175000
GRANITE BROADCASTING COR NOTE 10.375 5/1 387241AE2 1043 1000000
GRANITE BROADCASTING COR NOTE 8.875 5/1 387241AK8 8472 8430000
GRUPO TELEVISA SA DE CV NOTE 11.375 5/1 40049JAK3 5586 5450000
GUESS INC NOTE 9.500 8/1 401617AB1 5500 5500000
HMH PPTYS INC NOTE 8.450 12/0 40423QAG2 2488 2500000
HS RES INC NOTE 9.250 11/1 404297AD5 4728 4800000
HS RES INC NOTE 9.250 11/1 404297AE3 542 550000
HASBRO INC CALL OPT JUL 3 418056107 289 10000 SH
HAWK CORP NOTE 10.250 12/0 420089AC8 7315 7000000
HELLER FINANCIAL INC CL A 423328103 2724 115900 SH
HEWLETT PACKARD CO COMMON 428236103 4358 64270 SH
HOLLINGER INTL PUBG INC NOTE 9.250 2/0 435572AA0 7673 7325000
HOLLINGER INTL PUBG INC NOTE 9.250 3/1 435572AB8 2095 2000000
HOUSEHOLD FIN CORP NOTE 8.000 8/0 441812FG4 53 49000
HOUSEHOLD FIN CORP NOTE 5.875 11/0 441812GC2 1746 1750000
ICO INC NOTE 10.375 6/0 449294AE7 3740 5500000
IMPAC GROUP INC NOTE 10.125 3/1 449694AB4 10497 10550000
IMCLONE SYSTEMS INC COMMON 45245W109 34 2000 SH
IMPERIAL HOLLY CORP NOTE 9.750 12/1 452835AD3 9570 9475000
IMATRON INC COMMON 452906100 120 112858 SH
INSIGNIA SOLUTIONS PLC DEPOSITORY RECEI 45766J107 43 6600 SH
INTEL CORP COMMON 458140100 178 1500 SH
INTEL CORP CALL OPT APR 13 458140100 594 5000 SH
INTERMEDIA COMMUNICATION COMMON 458801107 5466 205280 SH
INTERMEDIA COMMUNCATNS CALL OPT APR 2 458801107 266 10000 SH
INTERMEDIA COMMUNCATNS CALL OPT JUN 3 458801107 266 10000 SH
INTERMEDIA COMMUNICATION NOTE 7/1 458801AL1 9177 12075000
INTERMEDIA COMMUNICATION NOTE 8.875 11/0 458801AS6 1272 1250000
INTERACTIVE DISTRIBUTORS COMMON 458990108 6 2000 SH
INTERNATIONAL BUS MACH COMMON 459200101 4830 27250 SH
INTERNATIONAL BUS MACH NOTE 6.375 6/1 459200AK7 152 150000
INTERNATIONAL INDS INC D COMMON 459687109 2 60000 SH
ISRAEL (STATE OF) 6TH DEV ISSUE DE 465137PD3 1 1000
ISRAEL STATE OF DEB 4.000 11/0 465138CR4 1 1000
ISRAEL (STATE OF) 7TH DEV ISS 4% 1 465138KU8 1 1000
JITNEY-JUNGLE STORES AME NOTE 12.000 3/0 47758RAA3 1221 1100000
JITNEY-JUNGLE STORES AME NOTE 10.375 9/1 47758RAD7 10152 9904000
JOHNSON & JOHNSON COMMON 478160104 206 2200 SH
KAISER ALUM & CHEM CORP NOTE 12.750 2/0 483008AD0 5321 5500000
KEY COMPONENTS LLC / KEY NOTE 10.500 6/0 49308AAC7 11818 12375000
KEYCORP NEW NOTE 7.500 6/1 493267AB4 267 250000
KEYSTONE CONS INDS INC NOTE 9.625 8/0 493422AC3 5790 6000000
KOHLS CORP COMMON 500255104 106 1500 SH
LADY LUCK GAMING FIN COR MTG 11.875 3/0 505903AC8 4579 4500000
LEHMAN BROS HLDGS INC NOTE 8.500 8/0 524908BF6 1402 1325000
LEHMAN BROS INC NOTE 7.250 4/1 524909AU2 102 100000
LEHMAN BROS INC NOTE 7.625 6/0 524909AV0 522 500000
LESLIES POOLMART NOTE 10.375 7/1 527069AC2 3909 3750000
LEVEL 3 COMMUNICATIONS I NOTE 9.125 5/0 52729NAC4 7607 7550000
LEVEL 3 COMMUNICATIONS I NOTE 12/0 52729NAD2 3159 5025000
LILLY ELI & CO NOTE 8.125 12/0 532457AK4 39 37000
LINENS N THINGS INC COMMON 535679104 272 6000 SH
LOCKHEED MARTIN CORP NOTE 7.700 6/1 539830AJ8 81 75000
LOEWS CINEPLEX ENTMT NOTE 8.875 8/0 540423AB6 7266 7275000
LOEWEN GROUP INTL INC NOTE 8.250 10/1 54042DAN8 107 200000
LUCENT TECHNOLOGIES INC COMMON 549463107 4618 42760 SH
MCI WORLDCOM INC COMMON 55268B106 6287 70984 SH
MALLINCKRODT GROUP INC NOTE 6.500 11/1 561226AB7 420 435000
MANUFACTURED HOME CMNTYS COMMON 564682102 1239 51607 SH
MARINER POST-ACUTE NETWO NOTE 11/0 568459AB7 960 6000000
MARKETWATCH COM INC COMMON 570619106 103 1400 SH
MAXXIM MED INC COMMON 57777G105 4496 238200 SH
MERCK & CO INC COMMON 589331107 4585 57226 SH
MERRILL LYNCH & CO INC NOTE 8.000 6/0 590188EF1 113 100000
MERRILL LYNCH & CO INC NOTE 6.250 10/1 590188EZ7 275 275000
MERRILL LYNCH & CO INC NOTE 6.000 3/0 590188FT0 1005 1000000
MERRILL LYNCH & CO INC NOTE 7.000 3/1 590188FV5 263 250000
MERRILL LYNCH & CO INC NOTE 6.000 11/1 590188JM1 275 275000
MERRILL LYNCH 0% 5/10/99 COMM 59018KSA0 3997 4025000
MICROSOFT CORP COMMON 594918104 6062 67634 SH
MIGRATEC INC COMMON 598622108 10 25000 SH
MOHEGAN TRIBAL GAMING AU NOTE 8.125 1/0 608328AA8 1025 1000000
MOHEGAN TRIBAL GAMING AU NOTE 8.750 1/0 608328AC4 7263 6950000
MORGAN J P & CO INC NOTE 6.875 1/1 616880BF6 1338 1300000
MORGAN STAN DEAN WITTR COM NEW 617446448 60 600 SH
MORGAN STAN DEAN WITTR DEB 8.330 1/1 617446AL3 278 250000
MYLAN LABS INC COMMON 628530107 2255 82175 SH
NABISCO INC NOTE 6.850 6/1 629527AS1 102 100000
NABISCO INC NOTE 7.050 7/1 629527AT9 1773 1731000
NATIONAL DISC BROKERS GR COMMON 635646102 14 500 SH
NATIONAL VISION ASSOC LT NOTE 12.750 10/1 638459AA5 15179 14525000
NATIONSBANK CORP NOTE 6.500 8/1 638585AF6 461 450000
NATIONSBANK CORP SR MTN MTNF 5.700 2/1 63858RDJ7 4987 5000000
NAVARRE CORP COMMON 639208107 1928 138300 SH
NEENAH CORP NOTE 11.125 5/0 640071AE6 8407 7950000
NEENAH CORP NOTE 11.125 5/0 640071AF3 3093 2925000
NETWORK ASSOCIATES INC COMMON 640938106 4594 149700 SH
NETWORK ASSOCIATES INC CALL OPT MAY 4 640938106 153 5000 SH
NETWORK ASSOCIATES INC CALL OPT JUN 3 640938106 583 19000 SH
NEWCOR INC NOTE 9.875 3/0 651186AC2 10404 11625000
NEXTLINK COMMUNICATIONS NOTE 12.500 4/1 65333AAC2 1105 1000000
NEXTLINK COMMUNICATNS NOTE 4/1 65333HAG8 9474 14775000
NOKIA CORP DEPOSITORY RECEI 654902204 5390 34608 SH
NORTHLAND CABLE TELEVISI NOTE 10.250 11/1 66649PAC6 1065 1000000
OASIS RESIDENTIAL INC NOTE 7.250 11/1 674216AC0 1924 2000000
OCWEN FINANCIAL CORP NOTE 11.875 10/0 675746AA9 10403 10950000
OCWEN FED BK FSB FT LEE SDEB 12.000 6/1 67574NBM5 2280 2350000
OPEN MKT INC COMMON 68370M100 13 1000 SH
OUTDOOR SYS INC NOTE 8.875 6/1 690057AE4 7811 7300000
P&L COAL HLDGS CORP NOTE 9.625 5/1 693682AD8 5238 5000000
PACIFIC SUNWEAR CALIF IN COMMON 694873100 3020 86900 SH
PACIFIC SUNWEAR CALIF CALL OPT APR 3 694873100 348 10000 SH
PAGING NETWORK INC NOTE 8.875 2/0 695542AB6 3280 4000000
PAGING NETWORK INC NOTE 10.000 10/1 695542AG5 6821 8025000
PAINE WEBBER GROUP INC NOTE 6.500 11/0 695629AP0 98 100000
PANAMER BEVERAGE 7.25% 7/1/09 SR 69829VAD7 2196 2525000
PARKER DRILLING CO NOTE 9.750 11/1 701081AG6 4980 6000000
PAYCHEX INC COMMON 704326107 126 2652 SH
PEN-TAB INDS INC NOTE 10.875 2/0 706589AB4 3540 4000000
PENNEY JC INC MTN BE MTNF 6.500 6/1 70816FAB9 53 53000
PERKINS FAMILY RESTAURAN NOTE 10.125 12/1 714065AC3 2150 2000000
PETROLEOS MEXICANOS NOTE 8.850 9/1 71654QAL6 416 450000
PFIZER INC COMMON 717081103 4071 29340 SH
PHILADELPHIA ELEC CO MTG 5.625 11/0 717537DL5 75 75000
PHILLIPS VAN HEUSEN CP NOTE 9.500 5/0 718592AD0 6250 6250000
PIER 1 IMPORTS INC COMMON 720279108 2633 324000 SH
PIER 1 IMPORTS INC CALL OPT JUN 1 720279108 163 20000 SH
PLAINS RES INC NOTE 10.250 3/1 726540AE7 2475 2475000
PLAINS RES INC NOTE 10.250 3/1 726540AH0 6525 6525000
PREWAY INC COMMON 741394100 0 2000 SH
PROCTER & GAMBLE CO COMMON 742718109 196 2000 SH
PULTE CORP NOTE 7.000 12/1 745867AA9 1107 1111000
PULTE CORP NOTE 7.300 10/2 745867AC5 244 250000
QUALCOMM INC COMMON 747525103 37 300 SH
QUALCOMM INC CALL OPT MAY 13 747525103 1617 13000 SH
QUALCOMM INC CALL OPT JUL 10 747525103 622 5000 SH
QWEST COMMUNICATIONS INT COMMON 749121109 72 1000 SH
R & B FALCON CORP CALL OPT MAY 1 74912E101 173 20000 SH
R & B FALCON CORP NOTE 9.500 12/1 74912EAL5 5378 5975000
REGAL CINEMAS INC NOTE 9.500 6/0 758754AE5 9816 9600000
RENTAL SERVICE CORP NOTE 9.000 5/1 76009VAC6 4500 4500000
ROYAL CARIBBEAN CRUISES NOTE 8.250 4/0 780153AC6 523 494000
ROYAL CARIBBEAN CRUISES NOTE 7.250 8/1 780153AE2 102 100000
RYLAND GROUP INC NOTE 8.250 4/0 783764AE3 4813 5000000
SABRELINER CORP NOTE 11.000 6/1 78571LAC2 8140 9250000
SALOMON SMITH BARNEY HLD NOTE 6.750 8/1 79549BAT4 153 150000
SALOMON SMITH BARNEY HLD NOTE 6.750 1/1 79549BAV9 360 350000
SALOMON SMITH BARNEY HLD NOTE 6.750 2/1 79549BAZ0 968 950000
SALOMON SMITH BARNEY HLD NOTE 6.700 7/0 79549BBK2 1862 1840000
SCHERING PLOUGH CORP COMMON 806605101 169 3065 SH
SCHLUMBERGER LTD COMMON 806857108 4175 69364 SH
SEA CONTAINERS LTD NOTE 10.500 7/0 811371AE3 318 300000
SEA CONTAINERS LTD NOTE 7.875 2/1 811371AH6 4800 5000000
SEARS ROEBUCK & CO COMMON 812387108 64 1412 SH
SEARS ROEBUCK ACCEP CORP MTNF 6.500 10/0 81240QBF8 66 65000
SECURED RESTAURANTS TR DEB 10.250 11/1 813906AA2 865 809400
SECURITY PAC CORP NOTE 9.750 5/1 814823BB5 41 41000
SENSORMATIC ELECTRS CP COMMON 817265101 38 4000 SH
SEPRACOR INC COMMON 817315104 674 6000 SH
SILICON VY BANCSHARES COMMON 827064106 4461 215620 SH
SILICON VALLEY BANCSHS CALL OPT MAY 2 827064106 517 25000 SH
SIMON PPTY GROUP LP NOTE 6.750 2/0 828807AA5 2319 2325000
SIMONDS INDS INC NOTE 10.250 7/0 82881PAC0 10692 10800000
SOUTHTRUST CORP NOTE 8.625 5/1 844730AB7 1096 1000000
SPIEKER PPTYS L P NOTE 6.875 2/0 848503AJ7 1103 1100000
SPRINT SPECTRUM LP/SPRIN NOTE 8/1 85207FAB4 1820 2000000
STATIONS CASINOS INC NOTE 10.125 3/1 857689AC7 1063 1000000
STATIONS CASINOS INC NOTE 8.875 12/0 857689AG8 7751 7525000
SUNTRUST BKS INC NOTE 6.250 6/0 867914AQ6 2098 2100000
SUZY SHIER LTD SUB VTG SH 86958K106 1 100 SH
TCI COMMUNICATIONS INC NOTE 8.000 8/0 872287AB3 1431 1300000
TCI COMMUNICATIONS INC NOTE 6.875 2/1 872287AE7 314 300000
TRYLON CORP. RESTRICTED 872990106 0 154 SH
TELEWEST PLC DEB 10/0 87956RAB7 2640 3000000
TENNECO INC NOTE 7.875 10/0 880370BK6 130 125000
TENNECO INC NOTE 7.500 4/1 880370BQ3 1037 1000000
360 COMMUNICATIONS CO NOTE 7.500 3/0 885571AB5 322 300000
TIME WARNER PASS THRU 4.9% 7/2 88731YAB2 999 1000000
TIME WARNER TELECOM LLC NOTE 9.750 7/1 887321AA5 4320 4000000
TRANS RES INC NOTE 3/1 893320AH4 2888 5500000
TRICO MARINE SERVICES IN NOTE 8.500 8/0 896106AK7 9225 11250000
TROPICAL SPORTSWEAR INTL NOTE 11.000 6/1 89708PAC6 11907 11340000
VISION GROUP PLC COMMON 8992983 10 10000 SH
UNITED PARCEL SERVICE 4/01/99 COMM PAP 91130UR15 5400 5400000
UNITED PARCEL SERVICE 0% 4/14/99 COMM 91130URE7 998 1000000
UNITED PARCEL SERVICE 4/27/99 COMM PAP 91130URT4 1993 2000000
UNITED STATES LEASING IN NOTE 8.750 12/0 912129AC7 107 100000
VENETIAN CASINO RESORT L MTG 12.250 11/1 92264NAC1 6711 6500000
VERISIGN INC COMMON 92343E102 19 125 SH
VERITAS DGC INC NOTE 9.750 10/1 92343PAA5 255 250000
VERITAS DGC INC NOTE 9.750 10/1 92343PAB3 9104 8925000
VIACOM INC CL B 925524308 3 37 SH
VISX INC DEL COMMON 92844S105 43 400 SH
VLASIC FOODS INTL INC COMMON 928559103 3606 278740 SH
WCI STL INC NOTE 10.000 12/0 92923JAF6 5144 5000000
WALBRO CORP NOTE 10.125 12/1 931154AF5 6598 6500000
NOKIA CORP CALL OPT APR 15 93799W9D3 1611 10000 SH
NOKIA CORP CALL OPT MAY 16 93799W9E1 846 5000 SH
WEBB DEL E CORP SDEB 9.750 1/1 947423AG4 4065 4000000
WEIRTON STL CORP NOTE 10.750 6/0 948774AD6 4185 4500000
WELLS FARGO & CO DEL NOTE 6.875 4/0 949740BZ6 207 200000
WESTERN NATL CORP NOTE 7.125 2/1 958845AA7 1182 1126000
VERISIGN INC CALL OPT MAY 16 96699W9E5 357 2000 SH
WINFIELD CAP CORP COMMON 973859101 25 1250 SH
WORLDCOM INC GA NOTE 7.550 4/0 98155KAA0 267 250000
XEROX CORP COMMON 984121103 200 3843 SH
YAHOO INC COMMON 984332106 59 350 SH
