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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13f Cover Page
Report for the Calendar Year or Quarter Ended 3/31/99
If amended report check here: |_| Amendment Number: ____
This Amendment (Check only one): |_| is a restatement
|_| adds new holding
entries.
Loeb Arbitrage Management Inc.
- --------------------------------------------------------------------------------
Name of Institutional Investment Manager
61 Broadway New York N.Y. 10006
- --------------------------------------------------------------------------------
Business Address (Street) (City) (State) (Zip)
13F File Number: 28-_____________
The intitutional 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, and
tables, are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Edward Campbell 212-483-7078
- --------------------------------------------------------------------------------
Name (Title) (Phone)
/s/ EDWARD CAMPBELL
------------------------------------------
(Manual Signature of Person Duly
Authorized to Submit This Report)
5/12/99 New York, N.Y.
------------------------------------------
(Place and Date of Signing)
Report Type:
[ ] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
<PAGE>
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 2
Form 13F Information Table Entry Total: 274
Form 13F Information Table Value Total: $198935
(thousands)
Confidential information has been omitted.
List of Other Included Managers:
Name and 13F file numbers of ALL Institutional Investment Managers with respect
to which this schedule is filed (other than the one filing this report): (List
in alphabetical order).
[If there are no entries in this list, state "NONE" and omit the column headings
and list entries.]
13F File Numbers will be assigned to Institutional Investment Managers after
they file their first report.
13F File No.: Name: 13F File No.: Name:
------------- ------------------------ ------------- ---------------------
1. 28- Loeb Partners Corp. 6.
------------- ------------------------ ------------- ---------------------
2. Loeb Partners Mgmt. Inc. 7.
------------- ------------------------ ------------- ---------------------
3. 8.
------------- ------------------------ ------------- ---------------------
4. 9.
------------- ------------------------ ------------- ---------------------
5. 10.
------------- ------------------------ ------------- ---------------------
<PAGE>
<TABLE>
<CAPTION>
LOEB ARBITRAGE MANAGEMENT
FORM 13F
MARCH 31, 1999
TITLE SHARES OF VOTING AUTHORITY
NAME OF ISSUER OF CUSIP VALUE PRINCIPAL SH/ PUT/ INVSTMT OTHER ---------------------------
CLASS NUMBER (x$1000) AMOUNT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ASTRA AB APR 20 CALL CALL 046298105 29 10,000 SH CALL SOLE 10,000
GUCCI APRIL 80 CALL CALL 4015669D8 72 25,000 SH CALL SOLE 25,000
GUCCI GROUP MAY 90 CALL CALL 4015669E6 3 10,000 SH CALL SOLE 10,000
ICG COMMUNICATION APRIL 20 CALL 4492469D1 18 15,000 SH CALL SOLE 15,000
PLATINUM TECH JUNE 20 CALL CALL 72764T9F0 195 30,000 SH CALL SOLE 30,000
RUSSELL 2000 INDEX MAY 415 CALL 1248359E1 88 15,000 SH CALL SOLE 15,000
ACNIELSEN CORP COM 004833109 268 9,869 SH DEFINED 01 02 4869 5000
AFLAC INC COM 001055102 1,088 19,994 SH DEFINED 01 19994
AIRTOUCH COMMUNICATIONS INC COM 00949T100 232 2,400 SH DEFINED 01 2400
AIRTOUCH COMMUNICATIONS INC COM 00949T100 483 5,000 SH SOLE 5000
ALCIDE CORP NEW COM 013742507 382 24,468 SH DEFINED 01 02 296 24172
ALLMERICA FINANCIAL CORP COM 019754100 220 4,000 SH DEFINED 01 4000
ALLSTATE CORP COM 020002101 400 10,800 SH DEFINED 01 10800
AMERICAN COMMUNICATIONS & COM 025201104 - 20,000 SH DEFINED 01 20000
AMERICAN EXPRESS COMPANY COM 025816109 159 1,350 SH DEFINED 01 300 1050
AMERICAN EXPRESS COMPANY COM 025816109 940 8,000 SH SOLE 8000
AMERICAN INTERNATIONAL GROUP I COM 026874107 1,206 10,000 SH SOLE 10000
AMERICAN INTERNATIONAL GROUP I COM 026874107 4,387 36,370 SH DEFINED 01 36370
AMERITECH CORP NEW COM 030954101 454 7,840 SH DEFINED 01 02 4000 3840
AMGEN INC W/RTS TO PUR COM STK COM 031162100 470 6,280 SH DEFINED 01 02 5880 400
APPLIED MATERIALS INC COM 038222105 262 4,244 SH DEFINED 01 02 3644 600
ARLEN CORP COM 041327107 - 10,500 SH DEFINED 01 10500
ASSOCIATES FIRST CAPITAL CORP COM 046008108 450 10,000 SH SOLE 10000
ASSOCIATES FIRST CAPITAL CORP COM 046008108 1,507 33,500 SH DEFINED 01 02 16400 17100
AT&T CORP COM 001957109 399 5,000 SH SOLE 5000
AT&T CORP COM 001957109 2,346 29,391 SH DEFINED 01 02 5000 24391
AT&T CORP LIBERTY MEDIA GROUP COM 001957208 766 14,560 SH SOLE 14560
AT&T CORP LIBERTY MEDIA GROUP COM 001957208 7,362 139,894 SH DEFINED 01 02 19016 120878
AURORA BIOSCIENCES CORP COM 051920106 271 40,400 SH DEFINED 01 40400
AVALONBAY COMMUNITIES INC COM 053484101 261 8,250 SH DEFINED 01 8250
BANK OF AMER CORP COM 060505104 353 5,000 SH SOLE 5000
BANK OF AMER CORP COM 060505104 616 8,728 SH DEFINED 01 8728
BANK OF NEW YORK CO INC COM 064057102 180 5,000 SH SOLE 5000
BANK OF NEW YORK CO INC COM 064057102 9,154 254,716 SH DEFINED 01 02 191716 63000
BANK ONE CORP COM 06423A103 441 8,000 SH SOLE 8000
BANK ONE CORP COM 06423A103 645 11,719 SH DEFINED 01 02 4000 7719
BAXTER INTERNATIONAL INC COM 071813109 330 5,000 SH SOLE 5000
BAXTER INTERNATIONAL INC COM 071813109 535 8,100 SH DEFINED 01 02 2200 5900
BCE INC COM 05534b109 674 15,200 SH DEFINED 01 02 10600 4600
BECTON DICKINSON & CO COM 075887109 594 15,500 SH DEFINED 01 02 12800 2700
</TABLE>
Page 1
<PAGE>
<TABLE>
<CAPTION>
LOEB ARBITRAGE MANAGEMENT
FORM 13F
MARCH 31, 1999
TITLE SHARES OF VOTING AUTHORITY
NAME OF ISSUER OF CUSIP VALUE PRINCIPAL SH/ PUT/ INVSTMT OTHER ---------------------------
CLASS NUMBER (x$1000) AMOUNT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
BELL ATLANTIC CORP COM 077853109 234 4,524 SH DEFINED 01 4524
BELLSOUTH CORP COM 079860102 231 5,760 SH DEFINED 01 5760
BESTFOODS COM 08658U101 338 7,200 SH DEFINED 02 7200
BF REALTY HOLDINGS LTD COM 05540l109 - 32,000 SH DEFINED 01 32000
BLACK & DECKER CORP COM 091797100 444 8,000 SH SOLE 8000
BP AMOCO P L C SPONSORED ADR COM 055622104 2,048 20,293 SH DEFINED 01 02 18655 1638
BRANDYWINE REALTY TRUST-SBI NE COM 105368203 284 17,500 SH DEFINED 01 1300 16200
BRISTOL MYERS SQUIBB CO COM 110122108 3,183 49,500 SH DEFINED 01 02 12800 36700
BRT REALTY TRUST SBI-NEW COM 055645303 147 21,000 SH SOLE 21000
BRT REALTY TRUST SBI-NEW COM 055645303 289 41,300 SH DEFINED 01 02 4000 37300
BURLINGTON RESOURCES INC COM 122014103 326 8,152 SH DEFINED 01 02 4586 3566
CAPITAL ONE FINANCIAL CORP COM 14040h105 121 800 SH DEFINED 01 800
CAPITAL ONE FINANCIAL CORP COM 14040h105 453 3,000 SH SOLE 3000
CARDINAL HEALTH INC COM 14149y108 276 4,176 SH DEFINED 01 02 2514 1662
CATERPILLAR INC COM 149123101 230 5,000 SH SOLE 5000
CBS CORP COM 12490K107 1,023 25,000 SH SOLE 25000
CBS CORP COM 12490K107 2,345 57,282 SH DEFINED 01 02 5800 51482
CCC INFORMATION SERVICES GROUP COM 12487Q109 174 15,000 SH SOLE 15000
CCC INFORMATION SERVICES GROUP COM 12487Q109 334 28,713 SH DEFINED 01 28713
CENTRAL REALTY INVESTORS INC COM 155052103 - 13,000 SH DEFINED 01 13000
CENTURY COMMUNICATIONS CORP COM 156503104 518 11,161 SH DEFINED 01 11161
CHANCELLOR MEDIA CORP COM 158915108 320 6,800 SH DEFINED 01 02 4000 2800
CHASE MANHATTAN CORP NEW COM 16161a108 694 8,534 SH DEFINED 01 02 1306 7228
CHESAPEAKE ENERGY CORP COM 165167107 36 25,000 SH DEFINED 01 25000
CHEVRON CORP COM 166751107 725 8,200 SH DEFINED 01 02 7000 1200
CHRIS-CRAFT INDUSTRIES INC COM 170520100 274 5,997 SH DEFINED 02 5997
CISCO SYSTEMS INC COM 17275R102 2,170 19,807 SH DEFINED 01 02 3000 16807
CITIGROUP INC COM 172967101 958 15,000 SH SOLE 15000
CITIGROUP INC COM 172967101 3,586 56,144 SH DEFINED 01 02 41899 14245
CITIZENS UTILITIES CO SER B COM 177342201 158 20,451 SH SOLE 20451
CITIZENS UTILITIES CO SER B COM 177342201 1,320 170,351 SH DEFINED 01 02 35234 135117
CITY NATIONAL CORP COM 178566105 278 9,000 SH DEFINED 01 02 5000 4000
CLEAR CHANNEL COMMUNICATIONS I COM 184502102 255 3,800 SH DEFINED 01 3800
CLEAR CHANNEL COMMUNICATIONS I COM 184502102 537 8,000 SH SOLE 8000
CLOROX CO COM 189054109 1,506 12,850 SH DEFINED 01 02 3150 9700
COLUMBIAN NORTHLAND EXPL COM 198675100 - 27,300 SH SOLE 27300
COMERICA INC COM 200340107 356 5,700 SH DEFINED 01 5700
CORNING INC COM 219350105 300 5,000 SH SOLE 5000
COSTCO COMPANIES INC COM 22160q102 275 3,000 SH SOLE 3000
CROWN CASTLE INTL CORP COM 228227104 180 10,000 SH SOLE 10000
</TABLE>
Page 2
<PAGE>
<TABLE>
<CAPTION>
LOEB ARBITRAGE MANAGEMENT
FORM 13F
MARCH 31, 1999
TITLE SHARES OF VOTING AUTHORITY
NAME OF ISSUER OF CUSIP VALUE PRINCIPAL SH/ PUT/ INVSTMT OTHER ---------------------------
CLASS NUMBER (x$1000) AMOUNT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
DIME BANCORP INC NEW COM 25429q102 1,414 61,000 SH DEFINED 01 1000 60000
DOLE FOOD CO INC COM 256605106 230 7,715 SH DEFINED 01 02 6215 1500
DUN & BRADSTREET CORP DEL COM 26483B106 952 26,712 SH DEFINED 01 02 14412 12300
EL PASO ENERGY CORP COM 283905107 611 18,682 SH DEFINED 01 02 12000 6682
EMC CORP-MASS COM 268648102 1,022 8,000 SH SOLE 8000
EMC CORP-MASS COM 268648102 2,289 17,920 SH DEFINED 01 02 9700 8220
EMMIS COMMUNICATIONS CORP-CL A COM 291525103 300 6,000 SH DEFINED 01 02 3000 3000
EQK REALTY INVESTORS 1 SBI COM 268820107 11 21,100 SH DEFINED 01 21100
EQUITABLE COMPANIES INC COM 29444G107 1,288 18,400 SH DEFINED 01 02 6500 11900
EQUITY OFFICE PROPERTIES TRUST COM 294741103 265 10,427 SH DEFINED 01 1125 9302
EXECUTIVE RISK INC COM 301586103 376 5,300 SH DEFINED 01 400 4900
EXXON CORP COM 302290101 353 5,000 SH SOLE 5000
EXXON CORP COM 302290101 499 7,072 SH DEFINED 01 02 5200 1872
FANNIE MAE COM 313586109 672 9,700 SH DEFINED 01 02 1500 8200
FEDERATED DEPARTMENT STORES IN COM 31401H101 241 6,000 SH DEFINED 01 6000
FINANCIAL FEDERAL CORP COM 317492106 1,606 84,514 SH DEFINED 01 1050 83464
FIRST DATA CORP COM 319963104 556 13,000 SH SOLE 13000
FIRST REPUBLIC BANCORP INC COM 336158100 909 37,681 SH DEFINED 01 02 5000 32681
FIRST UNION CORP COM 337358105 305 5,700 SH DEFINED 01 5700
FIRSTAR CORP WIS-NEW COM 33763v109 322 3,600 SH DEFINED 01 3600
GANNETT CO INC COM 364730101 202 3,200 SH DEFINED 02 3200
GENENTECH INC SPL COM 368710307 470 5,300 SH DEFINED 01 5300
GENERAL ELECTRIC CO COM 369604103 1,659 15,000 SH SOLE 15000
GENERAL ELECTRIC CO COM 369604103 2,491 22,520 SH DEFINED 01 02 1300 21220
GENERAL MOTORS CORP CL H COM 370442832 43 850 SH DEFINED 01 02 750 100
GENERAL MOTORS CORP CL H COM 370442832 429 8,500 SH SOLE 8500
GILLETTE CO COM 375766102 701 11,794 SH DEFINED 01 02 4400 7394
GLAXO WELLCOME PLC SPONSORED A COM 37733w105 540 8,066 SH DEFINED 01 02 2066 6000
GTE CORP COM 362320103 605 10,000 SH SOLE 10000
GTE CORP COM 362320103 808 13,362 SH DEFINED 01 02 4162 9200
GULFMARK INTERNATIONAL INC COM 402629109 551 46,180 SH DEFINED 01 02 7600 38580
HALLIBURTON CO COM 406216101 308 8,000 SH DEFINED 01 8000
HEWLETT PACKARD CO COM 428236103 576 8,500 SH DEFINED 01 02 3500 5000
HOLLINGER INTERNATIONAL INC CL COM 435569108 285 21,000 SH DEFINED 01 02 15000 6000
HOME DEPOT INC COM 437076102 436 7,000 SH SOLE 7000
HOME DEPOT INC COM 437076102 794 12,750 SH DEFINED 01 02 4000 8750
HOST MARRIOTT CORP-NEW REIT COM 44107p104 497 44,652 SH DEFINED 01 02 4348 40304
HOUSEHOLD INTERNATIONAL INC COM 441815107 328 7,200 SH DEFINED 01 7200
IMS HEALTH INC COM 449934108 1,385 41,824 SH DEFINED 01 02 28824 13000
INTERMAGNETICS GENERAL CORP COM 458771102 133 16,112 SH DEFINED 01 16112
</TABLE>
Page 3
<PAGE>
<TABLE>
<CAPTION>
LOEB ARBITRAGE MANAGEMENT
FORM 13F
MARCH 31, 1999
TITLE SHARES OF VOTING AUTHORITY
NAME OF ISSUER OF CUSIP VALUE PRINCIPAL SH/ PUT/ INVSTMT OTHER ---------------------------
CLASS NUMBER (x$1000) AMOUNT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
INTERNATIONAL BUSINESS MACHINE COM 459200101 886 5,000 SH SOLE 5000
INTERNATIONAL BUSINESS MACHINE COM 459200101 1,459 8,234 SH DEFINED 01 02 2472 5762
INTERPUBLIC GROUP OF COS INC COM 460690100 533 6,848 SH DEFINED 01 6848
JOHN HANCOCK BANK & THRIFT OPP COM 409735107 92 10,000 SH SOLE 10000
JOHN HANCOCK BANK & THRIFT OPP COM 409735107 529 57,600 SH DEFINED 01 57600
JOHNSON & JOHNSON COM 478160104 937 10,000 SH SOLE 10000
JOHNSON & JOHNSON COM 478160104 3,429 36,600 SH DEFINED 01 02 8400 28200
K N ENERGY INC COM 482620101 248 12,450 SH DEFINED 01 02 10650 1800
KANSAS CITY SO COM 485170104 285 5,000 SH DEFINED 02 5000
KDI CORP-CONTINGENT PMT UNIT COM 482452307 - 149,500 SH SOLE 149500
LABORATORY CORP OF AMERICA HOL COM 50540r102 17 10,000 SH SOLE 10000
LOCKHEED MARTIN CORP COM 539830109 302 8,000 SH DEFINED 02 8000
LUCENT TECHNOLOGIES INC COM 549463107 809 7,510 SH DEFINED 01 02 2628 4882
MACK-CALI REALTY CORP COM 554489104 206 7,000 SH DEFINED 01 7000
MARSH & MCLENNAN COMPANIES INC COM 571748102 371 5,000 SH SOLE 5000
MCDONALDS CORP COM 580135101 453 10,000 SH SOLE 10000
MCDONALDS CORP COM 580135101 1,223 27,000 SH DEFINED 01 02 4400 22600
MCI WORLDCOM INC COM 55268B106 89 1,000 SH DEFINED 01 1000
MCI WORLDCOM INC COM 55268B106 709 8,000 SH SOLE 8000
MEDIAONE GROUP INC COM 912889201 952 15,000 SH SOLE 15000
MEDIAONE GROUP INC COM 912889201 1,427 22,480 SH DEFINED 01 02 6000 16480
MELLON BANK CORP COM 585509102 633 9,000 SH SOLE 9000
MELLON BANK CORP COM 585509102 730 10,370 SH DEFINED 01 02 5000 5370
MERCK & CO INC COM 589331107 746 9,300 SH DEFINED 01 02 9200 100
MICROSOFT CORP COM 594918104 1,620 18,080 SH DEFINED 01 02 12600 5480
MOBIL CORP COM 607059102 391 4,448 SH DEFINED 01 02 2840 1608
MONSANTO CO COM 611662107 299 6,500 SH DEFINED 02 01 6000 500
MOTOROLA INC COM 620076109 366 5,000 SH SOLE 5000
NESTLE SA-SPONSORED ADR COM 641069406 1,562 17,200 SH DEFINED 01 02 9700 7500
NEW PLAN EXCEL REALTY TRUST IN COM 648053106 224 11,650 SH DEFINED 01 11650
NEWPARK RESOURCES INC NEW COM 651718507 72 10,000 SH DEFINED 02 10000
NEWS CORP LTD-SPONSORED ADR RE COM 652487802 275 10,000 SH SOLE 10000
NEWS CORP LTD-SPONSORED ADR RE COM 652487802 357 13,000 SH DEFINED 01 02 10000 3000
NOKIA CORP-SPONSORED ADR REPST COM 654902204 467 3,000 SH SOLE 3000
NORTH AMERICAN BANK & TRUST CO COM 656751104 55 10,000 SH DEFINED 01 10000
NORTH FORK BANCORPORATION INC COM 659424105 253 12,000 SH DEFINED 01 12000
NORTHERN TELECOM LTD COM 665815106 302 4,860 SH DEFINED 01 4860
NOVARTIS AG-SPONSORED ADR COM 66987v109 406 5,000 SH SOLE 5000
NOVARTIS AG-SPONSORED ADR COM 66987v109 608 7,500 SH DEFINED 02 7500
NTL INCORPORATED COM 629407107 2,103 25,839 SH DEFINED 01 02 1800 24039
</TABLE>
Page 4
<PAGE>
<TABLE>
<CAPTION>
LOEB ARBITRAGE MANAGEMENT
FORM 13F
MARCH 31, 1999
TITLE SHARES OF VOTING AUTHORITY
NAME OF ISSUER OF CUSIP VALUE PRINCIPAL SH/ PUT/ INVSTMT OTHER ---------------------------
CLASS NUMBER (x$1000) AMOUNT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
PALL CORP COM 696429307 1,186 71,586 SH DEFINED 01 02 3233 68353
PEPSICO INC COM 713448108 323 8,240 SH DEFINED 01 02 5400 2840
PFIZER INC COM 717081103 694 5,000 SH SOLE 5000
PFIZER INC COM 717081103 3,531 25,450 SH DEFINED 01 02 15550 9900
PIXTECH INC COM 72583K109 149 59,600 SH DEFINED 01 59600
PRIME HOSPITALITY CORP COM 741917108 288 29,000 SH SOLE 29000
PRIME HOSPITALITY CORP COM 741917108 540 54,300 SH DEFINED 01 02 2800 51500
PROCTER & GAMBLE CO COM 742718109 784 8,000 SH SOLE 8000
PROCTER & GAMBLE CO COM 742718109 1,696 17,320 SH DEFINED 01 02 1600 15720
PROVIDENT BANKSHARES CORP COM 743859100 3,564 136,438 SH DEFINED 01 02 17506 118932
QWEST COMMUNICATIONS INTERNATI COM 749121109 360 5,000 SH SOLE 5000
RELIASTAR FINANCIAL CORP COM 75952u103 469 11,000 SH DEFINED 01 02 6000 5000
REUTERS GROUP PLC SPONSORED AD COM 76132m102 241 2,773 SH DEFINED 02 2773
ROCHE HOLDING LTD SPONSORED AD COM 771195104 1,219 10,000 SH SOLE 10000
ROCHE HOLDING LTD SPONSORED AD COM 771195104 4,685 38,420 SH DEFINED 01 02 12100 26320
ROYAL DUTCH PETROLEUM CO NY RE COM 780257804 416 8,000 SH DEFINED 01 02 6000 2000
SBC COMMUNICATIONS INC COM 78387g103 431 9,148 SH DEFINED 01 9148
SCHERING PLOUGH CORP COM 806605101 1,167 21,100 SH DEFINED 01 02 16700 4400
SCHLUMBERGER LTD COM 806857108 420 6,982 SH DEFINED 01 02 6132 850
SEAGRAM CO LTD COM 811850106 802 16,050 SH DEFINED 01 02 9500 6550
SHERWIN WILLIAMS CO COM 824348106 197 7,000 SH DEFINED 01 02 2000 5000
SHERWIN WILLIAMS CO COM 824348106 225 8,000 SH SOLE 8000
SIEMENS AG-ADR NEW COM 826197402 324 4,850 SH DEFINED 01 4850
SILICON VALLEY GROUP INC COM 827066101 671 54,500 SH DEFINED 01 1000 53500
SOUTHERN PACIFIC PETROLEUM COM 843581307 41 11,000 SH DEFINED 01 11000
SOVEREIGN BANCORP INC COM 845905108 220 18,000 SH DEFINED 01 1440 16560
STARWOOD HOTELS & RESORTS WORL COM 85590a203 542 18,983 SH DEFINED 01 18983
STATE STREET CORP COM 857477103 16 200 SH DEFINED 01 200
STATE STREET CORP COM 857477103 411 5,000 SH SOLE 5000
SWISS HELVETIA FUND INC COM 870875101 788 56,000 SH DEFINED 01 02 5600 50400
T ROWE PRICE U S TREASURY FUND COM 77957t107 176 33,269 SH DEFINED 01 33269
TELEPHONE & DATA SYSTEMS INC COM 879433100 395 7,000 SH SOLE 7000
TELEPHONE & DATA SYSTEMS INC COM 879433100 1,407 24,900 SH DEFINED 01 02 7700 17200
TERA COMPUTER CO COM 88076P108 227 31,250 SH DEFINED 01 31250
TEXAS INSTRUMENTS INC COM 882508104 60 600 SH DEFINED 02 600
TEXAS INSTRUMENTS INC COM 882508104 496 5,000 SH SOLE 5000
TIG HOLDINGS INC COM 872469101 240 14,706 SH DEFINED 01 02 14306 400
TIME WARNER INC (HOLDING CO) COM 887315109 924 13,000 SH SOLE 13000
TIME WARNER INC (HOLDING CO) COM 887315109 6,275 88,300 SH DEFINED 01 02 39540 48760
TJX COMPANIES INC NEW COM 872540109 340 10,000 SH DEFINED 01 10000
</TABLE>
Page 5
<PAGE>
<TABLE>
<CAPTION>
LOEB ARBITRAGE MANAGEMENT
FORM 13F
MARCH 31, 1999
TITLE SHARES OF VOTING AUTHORITY
NAME OF ISSUER OF CUSIP VALUE PRINCIPAL SH/ PUT/ INVSTMT OTHER ---------------------------
CLASS NUMBER (x$1000) AMOUNT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
TODD AO CORP CL A COM 888896107 117 14,800 SH DEFINED 02 14800
TORCHMARK CORP COM 891027104 275 8,700 SH DEFINED 01 02 2800 5900
TYCO INTERNATIONAL LTD COM 902124106 717 10,000 SH SOLE 10000
TYCO INTERNATIONAL LTD COM 902124106 3,087 43,030 SH DEFINED 01 02 11100 31930
U S HOMECARE CORP COM 911819100 - 10,000 SH DEFINED 01 10000
UNILEVER NV-NEW YORK SHARES COM 904784501 465 7,000 SH DEFINED 02 01 5000 2000
UNITED TECHNOLOGIES CORP COM 913017109 339 2,500 SH DEFINED 01 02 800 1700
VIACOM HOLDING CL B COM 925524308 442 5,266 SH DEFINED 01 02 283 4983
VIACOM INC COM 925524100 377 4,528 SH DEFINED 01 4528
WAL-MART STORES INC COM 931142103 447 4,850 SH DEFINED 01 4850
WAL-MART STORES INC COM 931142103 922 10,000 SH SOLE 10000
WALT DISNEY CO HOLDING CO COM 254687106 405 13,000 SH SOLE 13000
WALT DISNEY CO HOLDING CO COM 254687106 1,402 45,045 SH DEFINED 01 02 6000 39045
WASHINGTON MUTUAL INC COM 939322103 370 9,040 SH DEFINED 01 02 3360 5680
WEATHERFORD INTERNATIONAL INC COM 947074100 1,471 56,294 SH DEFINED 01 02 19472 36822
WELLS FARGO & CO-NEW COM 949746101 561 16,000 SH DEFINED 01 16000
WESTERN RESOURCES INC COM 959425109 270 10,100 SH DEFINED 01 10100
WEYERHAEUSER CO COM 962166104 277 5,000 SH SOLE 5000
WILLIAMS COMPANIES INC COM 969457100 316 8,000 SH SOLE 8000
WILLIAMS COMPANIES INC COM 969457100 1,138 28,800 SH DEFINED 01 02 5400 23400
WM WRIGLEY JR CO COM 982526105 814 9,000 SH DEFINED 02 9000
WTS IGENE BIOTECHNOLOGY INC COM 451695142 - 131,414 SH DEFINED 01 131414
XEROX CORP COM 984121103 427 8,000 SH DEFINED 01 8000
YPF SOCIEDAD ANOMIMA SPONSORED COM 984245100 253 8,000 SH SOLE 8000
AAMES FINCL CORP SUB DEB 5 FIXED 00253AAE1 1,900 47,500 PRN SOLE 47,500
AMERICAN TELECAST SR DISC FIXED 030151AE4 2,880 92,912 PRN SOLE 92,912
AMERICAN TELECAST SR DIST FIXED 030151AA2 273 8,274 PRN SOLE 8,274
AMERITRUCK DIST CORP 12.25 FIXED 03071XAC9 258 51,500 PRN SOLE 51,500
BANK OF NEW ENGLAND NOTE 9 FIXED 063840AC6 355 29,550 PRN SOLE 29,550
BARINGS BV - FRN 1/22/01 FIXED LU0001749 1,890 30,000 PRN SOLE 30,000
BUILDERS TRANSPORT 6.5% 5/ FIXED 120084AB4 15 15,140 PRN SOLE 15,140
BUILDERS TRANSPORT 8% 8/15 FIXED 120084AA6 13 13,260 PRN SOLE 13,260
CAI WIRELESS SYS INC SR NT FIXED 12476PAB0 512 12,420 PRN SOLE 12,420
CITYSCAPE FINCL SR NT SER FIXED 178778AF3 257 19,000 PRN SOLE 19,000
CLARIDGE HOT & CASINO 11.7 FIXED 180476AA1 1,340 21,620 PRN SOLE 21,620
COLOR TILE INC SR NT 10.75 FIXED 196267AD0 137 218,850 PRN SOLE 218,850
CS WIRELESS SYS INC 0% (11 FIXED 22942TAE1 860 21,500 PRN SOLE 21,500
DISCOVERY ZONE INC 13.5% 8 FIXED 25468BAF4 583 83,300 PRN SOLE 83,300
DISCOVERY ZONE INC SR SECD FIXED 25468BAF4 1,566 164,850 PRN SOLE 164,850
EDISON BROS STORES SR NT 1 FIXED 280875AB1 355 11,450 PRN SOLE 11,450
</TABLE>
Page 6
<PAGE>
<TABLE>
<CAPTION>
LOEB ARBITRAGE MANAGEMENT
FORM 13F
MARCH 31, 1999
TITLE SHARES OF VOTING AUTHORITY
NAME OF ISSUER OF CUSIP VALUE PRINCIPAL SH/ PUT/ INVSTMT OTHER ---------------------------
CLASS NUMBER (x$1000) AMOUNT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
FARM FRESH INC SER A 12.25 FIXED 307669AE1 250 5,000 PRN SOLE 5,000
FPA MEDICAL MGMT 6.5% 12/1 FIXED 302543AD5 444 273,100 PRN SOLE 273,100
IN-FLIGHT PHONE CORP 14% 5 FIXED 45322KAC5 200 20,000 PRN SOLE 20,000
INTL SEMI TECH MICRO SR 0% FIXED 46031KAA9 992 70,870 PRN SOLE 70,870
IONICA PLC SR DISC NTS 5/1 FIXED 462213AK5 35 11,500 PRN SOLE 11,500
JAZZ CASINO CO SR NT 8% 11 FIXED 472143AA4 517 8,620 PRN SOLE 8,620
JAZZ CASINO SR CONTING NT FIXED 472143AB2 196 13,039 PRN SOLE 13,039
LEVITZ FURN CORP SR NT 13. FIXED 527480AJ6 1,678 24,320 PRN SOLE 24,320
LOMAS FINCL CORP NEW 9% 10 FIXED 5415359A0 206 27,500 PRN SOLE 27,500
LOUISIANA ST AG FIN AUTH 8 FIXED 546418AB0 - 15,000 PRN SOLE 15,000
MOBIL ENERGY SVC CO 8.665% FIXED 607358AA6 555 15,000 PRN SOLE 15,000
MOBILEMEDIA COMM SR DEFD 1 FIXED 607414AA7 306 34,000 PRN SOLE 34,000
MOBILEMEDIA CORP SR NT 11/ FIXED 607414AA7 331 28,750 PRN SOLE 28,750
OLYMPIA YORK MAID LN 10.37 FIXED 681444AA3 745 10,000 PRN SOLE 10,000
PEOPLES CHOICE TV SR DISC FIXED 710847AA2 1,125 25,000 PRN SOLE 25,000
PLASMA & MATLS TECH 7.125% FIXED 72753MAA7 300 6,000 PRN SOLE 6,000
SELLCO CORP 12% 12/15/04 ( FIXED 81641KAA8 105 83,741 PRN SOLE 83,741
SMARTALK CONV SUB NT 9/15/ FIXED 83169AAC4 714 19,830 PRN SOLE 19,830
SOUTHEAST BK CORP 10.5% 4/ FIXED 841338AD8 400 20,000 PRN SOLE 20,000
SPECIALTY FOODS ACQ CP 13% FIXED 847498AC6 225 15,000 PRN SOLE 15,000
SUNBEAM CORP CV 0% 3/25/18 FIXED 867071AA0 1,018 92,500 PRN SOLE 92,500
TRANS WORLD AIRLINE 8% 11/ FIXED 893349AV2 - 10,000 PRN SOLE 10,000
TRUMPS CASTLE 11.75% 11/15 FIXED 898178AE8 371 4,484 PRN SOLE 4,484
USN COMM SR NTS SER B 8/15 FIXED 90336NAC9 455 45,540 PRN SOLE 45,540
WIRELESS ONE INC SR 13% 10 FIXED 97652HAB5 800 25,000 PRN SOLE 25,000
WIRELESS ONE INC SR 13.5% FIXED 97652HAC3 1,250 50,000 PRN SOLE 50,000
WRT ENERGY CORP 13.875% 3/ FIXED 92931KAB2 - 15,000 PRN SOLE 15,000
AT HOME CORP MAY 160 PUT PUT 48199W9Q4 535 23,900 SH PUT SOLE 23,900
BRIT PDS BPW APR163 PUT PUT NOT AVAIL 107 42,500 SH PUT SOLE 42,500
GLOBAL CROSS JULY 035 PUT PUT G3921A9S1 491 131,000 SH PUT SOLE 131,000
PLATINUM TECH JUNE 20 PUT PUT 72764T9R4 106 106,000 SH PUT SOLE 106,000
RUSSELL 200 APRIL 400 PUT PUT 12484L9PO 287 37,000 SH PUT SOLE 37,000
RUSSELL 2000 INDEX MAY 390 PUT 12484L9Q8 100 10,000 SH PUT SOLE 10,000
WARNER LAMBERT MAY 60 PUT PUT 9344889Q2 14 10,000 SH PUT SOLE 10,000
REPORT SUMMARY 274 DATA RECORDS 198,935 2 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
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