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Previous: FAIRVIEW CAPITAL INVESTMENT MANAGEMENT, 13F-HR, 1999-08-10 |
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13f Cover Page
6/30/99
Report for the Calendar Year or Quarter Ended _________________
If amended report check here: |_|
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 NY 10006
- --------------------------------------------------------------------------------
Business Address (Street) (City) (State) (Zip)
- --------------------------------------------------------------------------------
13F File Number: 28-
----------------------
The institutional investment manager filing this report and the person by
whom it is signed represent that the person signing this report is authorized to
submit it, that all iformation contained therein is true, correct and complete,
and that it is understtood 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)
5/2/99 New York N.Y.
-------------------------------------------
(Place and Date of Signing)
Report Type:
[ ] 13F HOLDING REPORT
[ ] 13F NOTICE
[ ] 13F COMBINATION REPORT
<PAGE>
Form 13F SUMMPARY PAGE
Report Summary:
Name of Other Included Managers: 2
-----------
Form 13F Information Table Entry Total: 761
-----------
Form 13F Information Table Value Total: $890,613
-----------
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).
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
JUNE 30, 1999
NAME OF ISSUER TITLE VALUE SHARES/ SH/ PUT/ INVSTMT
OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
BROADCAST CO JUL 115 CALL CALL 1113109G5 219 10,000 SOLE
QUEST COMM JULY 40 CALL CALL 7491219G6 9 50,000 SOLE
QWEST COMM AUG 40 CALL CALL 7491219H4 35 40,000 SOLE
VWR SCIENTIFIC JULY 30 CAL CALL 9184359G5 68 10,000 SOLE
WITCO CO JULY 20 CALL CALL 9773859G0 1 10,000 SOLE
AAVID THERMAL TECHNOLOGIES COM 002539104 666 29,500 SOLE
ABACUS DIRECT CORP COM 002553105 4,605 51,200 SOLE
ABOVENET COMMUNICATIONS IN COM 003743101 2,459 61,000 SOLE
ACNIELSEN CORP COM 004833109 299 9,869 SH DEFINED
ADVANCED NEUROMODULATION S COM 00757T101 285 30,200 SOLE
ADVANCED TECHNICAL PRODUCT COM 007548100 394 30,300 SOLE
AEROSONIC CORP DEL NEW COM 008015307 402 29,500 SOLE
AEROSPACE CREDITORS LIQD T COM 008017105 -- 80,000 SOLE
AFC CABLE SYSTEMS INC COM 000950105 4,464 126,625 SOLE
AFLAC INC COM 001055102 957 19,994 SH DEFINED
AIRPORT SYSTEMS INTL INC COM 00949N103 71 42,300 SOLE
AIRTOUCH COMMUNICATIONS COM 00949T100 2,150 20,000 SOLE
ALCAN ALUMINIUM LTD COM 013716105 319 10,000 SH SOLE
ALCIDE CORP NEW COM 013742507 440 24,468 SH DEFINED
ALIANT COMMUNICATIONS INC COM 016090102 2,490 53,900 SOLE
ALLIANCE BANCORP COM 01852J105 677 29,100 SOLE
ALLIED SIGNAL INC COM 019512102 220 3,500 SH DEFINED
ALLMERICA FINANCIAL CORP COM 019754100 243 4,000 SH DEFINED
ALLSTATE CORP COM 020002101 273 7,600 SH DEFINED
ALLTEL CORP COM 020039103 715 10,000 SH SOLE
ALLTEL CORP COM 020039103 579 8,099 SH DEFINED
ALZA CORP COM 022615108 5,088 100,000 SOLE
AMERICA SERVICE GROUP INC COM 02364L109 1,015 70,000 SOLE
AMERICAN BANK OF CONNECTIC COM 024327108 281 11,500 SOLE
AMERICAN BANKERS INSURANCE COM 024456105 4,682 86,000 SOLE
AMERICAN BLIND COM NOT AVAIL 35 35,200 SOLE
AMERICAN COMMUNICATIONS & COM 025201104 -- 20,000 SH DEFINED
AMERICAN EXPRESS COMPANY COM 025816109 1,301 10,000 SH SOLE
AMERICAN EXPRESS COMPANY COM 025816109 176 1,350 SH DEFINED
AMERICAN INDEMNITY FINL CO COM 026759100 229 16,100 SOLE
AMERICAN INTERNATIONAL GRO COM 026874107 -- 202,041 SOLE
AMERICAN INTERNATIONAL GROUP I COM 026874107 937 8,000 SH SOLE
AMERICAN INTERNATIONAL GROUP I COM 026874107 4,351 37,170 SH DEFINED
AMERICAN INTL GRP RSTD COM 026874107 -- 10,978 SOLE
AMERICAN MED ELECTRONICS S COM 027425891 -- 124,900 SOLE
<CAPTION>
VOTING AUTHORITY
NAME OF ISSUER OTHER -------------------------------------
MANAGERS SOLE SHARED NONE
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
BROADCAST CO JUL 115 CALL 10,000
QUEST COMM JULY 40 CALL 50,000
QWEST COMM AUG 40 CALL 40,000
VWR SCIENTIFIC JULY 30 CAL 10,000
WITCO CO JULY 20 CALL 10,000
AAVID THERMAL TECHNOLOGIES 29,500
ABACUS DIRECT CORP 51,200
ABOVENET COMMUNICATIONS IN 61,000
ACNIELSEN CORP 01 02 4,869 5,000
ADVANCED NEUROMODULATION S 30,200
ADVANCED TECHNICAL PRODUCT 30,300
AEROSONIC CORP DEL NEW 29,500
AEROSPACE CREDITORS LIQD T 80,000
AFC CABLE SYSTEMS INC 126,625
AFLAC INC 01 19,994
AIRPORT SYSTEMS INTL INC 42,300
AIRTOUCH COMMUNICATIONS 20,000
ALCAN ALUMINIUM LTD 10,000
ALCIDE CORP NEW 01 02 296 24,172
ALIANT COMMUNICATIONS INC 53,900
ALLIANCE BANCORP 29,100
ALLIED SIGNAL INC 01 3,500
ALLMERICA FINANCIAL CORP 01 4,000
ALLSTATE CORP 01 7,600
ALLTEL CORP 10,000
ALLTEL CORP 01 02 4,000 4,099
ALZA CORP 100,000
AMERICA SERVICE GROUP INC 70,000
AMERICAN BANK OF CONNECTIC 11,500
AMERICAN BANKERS INSURANCE 86,000
AMERICAN BLIND 35,200
AMERICAN COMMUNICATIONS & 01 20,000
AMERICAN EXPRESS COMPANY 10,000
AMERICAN EXPRESS COMPANY 01 300 1,050
AMERICAN INDEMNITY FINL CO 16,100
AMERICAN INTERNATIONAL GRO 202,041
AMERICAN INTERNATIONAL GROUP I 8,000
AMERICAN INTERNATIONAL GROUP I 01 37,170
AMERICAN INTL GRP RSTD 10,978
AMERICAN MED ELECTRONICS S 124,900
</TABLE>
Page 1
<PAGE>
LOEB ARBITRAGE MANAGEMENT
FORM 13F
JUNE 30, 1999
<TABLE>
<CAPTION>
NAME OF ISSUER TITLE VALUE SHARES/ SH/ PUT/ INVSTMT
OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
AMERICAN MED ELECTRONICS S COM 027425958 -- 124,900 SOLE
AMERICAN PACIFIC CORP COM 028740108 688 83,400 SOLE
AMERICAN SHARED HOSP SVCS COM 029595105 117 44,700 SOLE
AMERICAN TELECASTING INC C COM 030151104 2,559 428,800 SOLE
AMERITECH CORP NEW COM 030954101 576 7,840 SH DEFINED
AMERLINK CORP COM 03070N108 3,081 158,000 SOLE
AMGEN INC W/RTS TO PUR COM STK COM 031162100 382 6,280 SH DEFINED
APPLIED MATERIALS INC COM 038222105 314 4,244 SH DEFINED
AQUARION CO COM 03838W101 1,564 45,000 SOLE
ARCH COMMUNICATIONS INC NE COM 039381504 698 83,369 SOLE
ARLEN CORP COM 041327107 -- 10,500 SH DEFINED
ARMCO INC COM 042170100 1,789 270,000 SOLE
ARTESYN TECHNOLOGIES INC COM 043127109 227 10,230 SOLE
ASDA GROUP PLC ORD 25P COM G05096105 34 10,000 SOLE
ASSOCAITED GROUP CL A COM 045651106 2,922 45,000 SOLE
ASSOCIATED GROUP CL B COM 045651205 5,536 85,000 SOLE
ASSOCIATED GROUP INC-CL B COM 045651205 652 10,000 SH SOLE
ASSOCIATES FIRST CAPITAL CORP COM 046008108 355 8,000 SH SOLE
ASSOCIATES FIRST CAPITAL CORP COM 046008108 1,414 31,900 SH DEFINED
ASTORIA FINANCIAL CORP COM 046265104 925 21,091 SOLE
ASTRAZENECA PLC SPONSORED COM 046353108 735 18,749 SOLE
ASTROSYSTEMS INC NY COM 046465100 247 82,213 SOLE
AT ENTERTAINMENT INC COM 045920105 1,331 71,200 SOLE
AT&T CORP COM 001957109 279 5,000 SH SOLE
AT&T CORP COM 001957109 1,815 32,514 SH DEFINED
AT&T CORP LIBERTY MEDIA GROUP COM 001957208 367 10,000 SH SOLE
AT&T CORP LIBERTY MEDIA GROUP COM 001957208 10,580 287,888 SH DEFINED
ATLANTIC RICHFIELD CO COM 048825103 5,432 65,000 SOLE
ATLAS STEELS INC UTS 100 B COM NOT AVAIL 895 20,808 SOLE
AURORA BIOSCIENCES CORP COM 051920106 249 34,400 SH DEFINED
AUTOMOBILE PROTECTION CORP COM 052905106 3,596 280,700 SOLE
AVALONBAY COMMUNITIES INC COM 053484101 305 8,250 SH DEFINED
AVANT IMMUNOTHERAPEUTICS I COM 053491114 -- 15,509 SOLE
AVCOM INTERNATIONAL INC ES COM 053543997 2 32,100 SOLE
AVIALL INC. NEW COM 05366B102 2,865 152,300 SOLE
AVONDALE INDUSTRIES INC COM 054350103 5,902 151,328 SOLE
AXSYS TECHNOLOGIES INC COM 054615109 1,661 144,434 SOLE
AZTEC TECHNOLOGY PARTNERS COM 05480L101 65 34,271 SOLE
BALLARD MEDICAL PRODUCTS COM 058566100 6,693 287,100 SOLE
BANCTEC INC COM 059784108 1,080 60,200 SOLE
<CAPTION>
VOTING AUTHORITY
NAME OF ISSUER OTHER --------------------------------------
MANAGERS SOLE SHARED NONE
- -----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
AMERICAN MED ELECTRONICS S 124,900
AMERICAN PACIFIC CORP 83,400
AMERICAN SHARED HOSP SVCS 44,700
AMERICAN TELECASTING INC C 428,800
AMERITECH CORP NEW 01 02 4,000 3,840
AMERLINK CORP 158,000
AMGEN INC W/RTS TO PUR COM STK 01 02 5,880 400
APPLIED MATERIALS INC 01 02 3,644 600
AQUARION CO 45,000
ARCH COMMUNICATIONS INC NE 83,369
ARLEN CORP 01 10,500
ARMCO INC 270,000
ARTESYN TECHNOLOGIES INC 10,230
ASDA GROUP PLC ORD 25P 10,000
ASSOCAITED GROUP CL A 45,000
ASSOCIATED GROUP CL B 85,000
ASSOCIATED GROUP INC-CL B 10,000
ASSOCIATES FIRST CAPITAL CORP 8,000
ASSOCIATES FIRST CAPITAL CORP 01 02 16,400 15,500
ASTORIA FINANCIAL CORP 21,091
ASTRAZENECA PLC SPONSORED 18,749
ASTROSYSTEMS INC NY 82,213
AT ENTERTAINMENT INC 71,200
AT&T CORP 5,000
AT&T CORP 01 02 7,500 25,014
AT&T CORP LIBERTY MEDIA GROUP 10,000
AT&T CORP LIBERTY MEDIA GROUP 01 02 38,032 249,856
ATLANTIC RICHFIELD CO 65,000
ATLAS STEELS INC UTS 100 B 20,808
AURORA BIOSCIENCES CORP 01 34,400
AUTOMOBILE PROTECTION CORP 280,700
AVALONBAY COMMUNITIES INC 01 8,250
AVANT IMMUNOTHERAPEUTICS I 15,509
AVCOM INTERNATIONAL INC ES 32,100
AVIALL INC. NEW 152,300
AVONDALE INDUSTRIES INC 151,328
AXSYS TECHNOLOGIES INC 144,434
AZTEC TECHNOLOGY PARTNERS 34,271
BALLARD MEDICAL PRODUCTS 287,100
BANCTEC INC 60,200
</TABLE>
Page 2
<PAGE>
LOEB ARBITRAGE MANAGEMENT
FORM 13F
JUNE 30, 1999
<TABLE>
<CAPTION>
NAME OF ISSUER TITLE VALUE SHARES/ SH/ PUT/ INVSTMT
OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
BANK OF AMER CORP COM 060505104 640 8,728 SH DEFINED
BANK OF COMMERCE SAN DIEGO COM 061589105 4,586 225,100 SOLE
BANK OF NEW YORK CO INC COM 064057102 9,228 251,516 SH DEFINED
BANK ONE CORP COM 06423A103 698 11,719 SH DEFINED
BANKBOSTON CORP COM 06605R106 1,534 30,000 SOLE
BANKNORTH GROUP INC NEW-DE COM 06646L100 320 9,800 SOLE
BAXTER INTERNATIONAL INC COM 071813109 315 5,200 SH DEFINED
BAXTER INTL INC CONT PYMT COM 071813125 16 180,931 SOLE
BCE INC COM 05534B109 750 15,200 SH DEFINED
BECTON DICKINSON & CO COM 075887109 465 15,500 SH DEFINED
BELL & HOWELL CO NEW COM 077852101 189 5,000 SH SOLE
BELL & HOWELL CO NEW COM 077852101 189 5,000 SH DEFINED
BELL ATLANTIC CORP COM 077853109 654 10,000 SH SOLE
BELL ATLANTIC CORP COM 077853109 296 4,524 SH DEFINED
BELLSOUTH CORP COM 079860102 270 5,760 SH DEFINED
BENSONS CRISPS ORD 10p COM NOT AVAIL 9 12,500 SOLE
BERGEN BRUNSWIG CORP-CL A COM 083739102 199 11,560 SOLE
BERKSHIRE REALTY CO INC COM 084710102 2,414 208,800 SOLE
BESTFOODS COM 08658U101 356 7,200 SH DEFINED
BF REALTY HOLDINGS LTD COM 05540L109 -- 32,000 SH DEFINED
BOC GROUP PLC SPD ADR COM 055617609 403 10,000 SOLE
BORDEN CHEMICALS & PLASTIC COM 099541203 374 52,500 SOLE
BORG WARNER SECURITY CORP COM 099733107 1,016 50,000 SOLE
BP AMOCO P L C SPONSORED ADR COM 055622104 2,202 20,293 SH DEFINED
BRANDYWINE REALTY TRUST-SBI NE COM 105368203 317 16,000 SH DEFINED
BRISTOL MYERS SQUIBB CO COM 110122108 3,571 50,700 SH DEFINED
BRITE VOICE SYSTEMS INC COM 110411105 948 68,018 SOLE
BROAD NATIONAL BANCORPORAT COM 111239109 3,194 125,869 SOLE
BROADCAST COM INC COM 111310108 9,590 71,800 SOLE
BROWNING FERRIS COM 115885105 860 20,000 SOLE
BRT REALTY TRUST SBI-NEW COM 055645303 175 21,000 SH SOLE
BRT REALTY TRUST SBI-NEW COM 055645303 343 41,300 SH DEFINED
BUILDING ONE SERVICES CORP COM 120114103 966 69,958 SOLE
BURLINGTON MOTOR CARRIERS COM 121866206 214 268 SOLE
BURLINGTON RESOURCES COAL COM 122016108 -- 20,200 SOLE
BURLINGTON RESOURCES INC COM 122014103 353 8,152 SH DEFINED
C2 INC COM 126948108 962 157,010 SOLE
CABLEVISION SYSTEMS CORP-CL A COM 12686C109 350 5,000 SH SOLE
CADILLAC FAIRVIEW CORP (cd COM 126929207 329 17,453 SOLE
CADILLAC FAIRVIEW CORP WTS COM 126929116 71 17,641 SOLE
<CAPTION>
VOTING AUTHORITY
NAME OF ISSUER OTHER --------------------------------------
MANAGERS SOLE SHARED NONE
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
BANK OF AMER CORP 01 8,728
BANK OF COMMERCE SAN DIEGO 225,100
BANK OF NEW YORK CO INC 01 02 191,716 59,800
BANK ONE CORP 01 02 4,000 7,719
BANKBOSTON CORP 30,000
BANKNORTH GROUP INC NEW-DE 9,800
BAXTER INTERNATIONAL INC 01 02 2,200 3,000
BAXTER INTL INC CONT PYMT 180,931
BCE INC 01 02 10,600 4,600
BECTON DICKINSON & CO 01 02 12,800 2,700
BELL & HOWELL CO NEW 5,000
BELL & HOWELL CO NEW 01 5,000
BELL ATLANTIC CORP 10,000
BELL ATLANTIC CORP 01 4,524
BELLSOUTH CORP 01 5,760
BENSONS CRISPS ORD 10p 12,500
BERGEN BRUNSWIG CORP-CL A 11,560
BERKSHIRE REALTY CO INC 208,800
BESTFOODS 02 7,200
BF REALTY HOLDINGS LTD 01 32,000
BOC GROUP PLC SPD ADR 10,000
BORDEN CHEMICALS & PLASTIC 52,500
BORG WARNER SECURITY CORP 50,000
BP AMOCO P L C SPONSORED ADR 01 02 18,655 1,638
BRANDYWINE REALTY TRUST-SBI NE 01 1,300 14,700
BRISTOL MYERS SQUIBB CO 01 02 12,800 37,900
BRITE VOICE SYSTEMS INC 68,018
BROAD NATIONAL BANCORPORAT 125,869
BROADCAST COM INC 71,800
BROWNING FERRIS 20,000
BRT REALTY TRUST SBI-NEW 21,000
BRT REALTY TRUST SBI-NEW 01 02 4,000 37,300
BUILDING ONE SERVICES CORP 69,958
BURLINGTON MOTOR CARRIERS 268
BURLINGTON RESOURCES COAL 20,200
BURLINGTON RESOURCES INC 01 02 4,586 3,566
C2 INC 157,010
CABLEVISION SYSTEMS CORP-CL A 5,000
CADILLAC FAIRVIEW CORP (cd 17,453
CADILLAC FAIRVIEW CORP WTS 17,641
</TABLE>
Page 3
<PAGE>
LOEB ARBITRAGE MANAGEMENT
FORM 13F
JUNE 30, 1999
<TABLE>
<CAPTION>
NAME OF ISSUER TITLE VALUE SHARES/ SH/ PUT/ INVSTMT
OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
CAI WIRELESS SYSTEMS INC N COM 12476P203 4,992 184,900 SOLE
CAMCO FINANCIAL CORP COM 132618109 597 45,482 SOLE
CAPSTAR BROADCASTING CORP COM 14067G105 14,194 518,500 SOLE
CARDINAL HEALTH INC COM 14149Y108 242 3,779 SH DEFINED
CARTER WALLACE INC COM 146285101 546 30,000 SOLE
CASE CORP COM 14743R103 4,331 90,000 SOLE
CATERPILLAR INC COM 149123101 480 8,000 SH SOLE
CBS CORP COM 12490K107 652 15,000 SH SOLE
CBS CORP COM 12490K107 2,358 54,282 SH DEFINED
CBS CORP COM 12490K107 1,134 26,100 SOLE
CCC INFORMATION SERVICES GROUP COM 12487Q109 451 35,000 SH SOLE
CCC INFORMATION SERVICES GROUP COM 12487Q109 662 51,413 SH DEFINED
CELADON GROUP INC INC COM 150838100 661 78,300 SOLE
CENTENNIAL HEALTHCARE CORP COM 150937100 678 128,450 SOLE
CENTOCOR INC COM 152342101 657 14,100 SOLE
CENTRAL BANKING SYSTEMS IN COM 152609103 -- 206,296 SOLE
CENTRAL REALTY INVESTORS INC COM 155052103 -- 13,000 SH DEFINED
CENTRAL SPRINKLER CORP COM 155184104 702 25,000 SOLE
CENTURY COMMUNICATIONS COR COM 156503104 8,022 174,400 SOLE
CENTURY COMMUNICATIONS CORP COM 156503104 513 11,161 SH DEFINED
CFSB BANCORP INC COM 124927104 767 31,149 SOLE
CHANCELLOR MEDIA CORP COM 158915108 375 6,800 SH DEFINED
CHARTER FEDERAL SAVINGS BA COM 161223987 6 92,230 SOLE
CHASE MANHATTAN CORP NEW COM 16161A108 866 10,000 SH SOLE
CHASE MANHATTAN CORP NEW COM 16161A108 707 8,156 SH DEFINED
CHAUVCO RESOURCES INTL LTD COM G19472102 13 133,256 SOLE
CHESAPEAKE ENERGY CORP COM 165167107 73 25,000 SH DEFINED
CHEVRON CORP COM 166751107 781 8,200 SH DEFINED
CHOCK FULL OF NUTS CORP COM 170268106 1,683 161,200 SOLE
CHRIS CRAFT INDUSTRIES COM 170520100 589 12,500 SOLE
CHRIS-CRAFT INDUSTRIES INC COM 170520100 283 5,995 SH DEFINED
CILCORP INC COM 171794100 1,000 16,000 SOLE
CINCINNATI BELL INC-W/RTS TO COM 171870108 249 10,000 SH SOLE
CINCINNATI BELL INC-W/RTS TO COM 171870108 212 8,500 SH DEFINED
CISCO SYSTEMS INC COM 17275R102 645 10,000 SH SOLE
CISCO SYSTEMS INC COM 17275R102 2,514 38,974 SH DEFINED
CITATION COMPUTER SYSTEMS COM 172894107 94 50,100 SOLE
CITIGROUP INC COM 172967101 475 10,000 SH SOLE
CITIGROUP INC COM 172967101 3,993 84,065 SH DEFINED
CITIZENS UTILITIES CO SER B COM 177342201 450 40,451 SH SOLE
<CAPTION>
VOTING AUTHORITY
NAME OF ISSUER OTHER --------------------------------------
MANAGERS SOLE SHARED NONE
- -----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
CAI WIRELESS SYSTEMS INC N 184,900
CAMCO FINANCIAL CORP 45,482
CAPSTAR BROADCASTING CORP 518,500
CARDINAL HEALTH INC 01 02 2,514 1,265
CARTER WALLACE INC 30,000
CASE CORP 90,000
CATERPILLAR INC 8,000
CBS CORP 15,000
CBS CORP 01 02 5,800 48,482
CBS CORP 26,100
CCC INFORMATION SERVICES GROUP 35,000
CCC INFORMATION SERVICES GROUP 01 800 50,613
CELADON GROUP INC INC 78,300
CENTENNIAL HEALTHCARE CORP 128,450
CENTOCOR INC 14,100
CENTRAL BANKING SYSTEMS IN 206,296
CENTRAL REALTY INVESTORS INC 01 13,000
CENTRAL SPRINKLER CORP 25,000
CENTURY COMMUNICATIONS COR 174,400
CENTURY COMMUNICATIONS CORP 01 11,161
CFSB BANCORP INC 31,149
CHANCELLOR MEDIA CORP 01 02 4,000 2,800
CHARTER FEDERAL SAVINGS BA 92,230
CHASE MANHATTAN CORP NEW 10,000
CHASE MANHATTAN CORP NEW 01 02 1,306 6,850
CHAUVCO RESOURCES INTL LTD 133,256
CHESAPEAKE ENERGY CORP 01 25,000
CHEVRON CORP 01 02 7,000 1,200
CHOCK FULL OF NUTS CORP 161,200
CHRIS CRAFT INDUSTRIES 12,500
CHRIS-CRAFT INDUSTRIES INC 02 5,995
CILCORP INC 16,000
CINCINNATI BELL INC-W/RTS TO 10,000
CINCINNATI BELL INC-W/RTS TO 02 8,500
CISCO SYSTEMS INC 10,000
CISCO SYSTEMS INC 01 02 6,000 32,974
CITATION COMPUTER SYSTEMS 50,100
CITIGROUP INC 10,000
CITIGROUP INC 01 02 62,848 21,217
CITIZENS UTILITIES CO SER B 40,451
</TABLE>
Page 4
<PAGE>
LOEB ARBITRAGE MANAGEMENT
FORM 13F
JUNE 30, 1999
<TABLE>
<CAPTION>
NAME OF ISSUER TITLE VALUE SHARES/ SH/ PUT/ INVSTMT
OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
CITIZENS UTILITIES CO SER B COM 177342201 3,127 281,108 SH DEFINED
CLEAR CHANNEL COMMUNICATIONS I COM 184502102 262 3,800 SH DEFINED
CLEVELAND INDIANS BASEBALL COM 186202107 1,631 88,765 SOLE
CLOROX CO COM 189054109 1,084 10,150 SH DEFINED
CMC INDUSTRIES INC COM 125708107 206 30,258 SOLE
CMP GROUP COM 125887109 524 20,000 SOLE
CNB BANCSHARES INC (bnk) COM 126126101 576 10,100 SOLE
COACH USA INC COM 18975L106 9,029 215,300 SOLE
COAST FEDERAL LITIG RTS COM 19034Q110 164 154,300 SOLE
COLEMAN CO COM 193559101 1,606 171,300 SOLE
COLLAGEN AESTHETICS INC COM 194194106 381 27,696 SOLE
COLONIAL GAS CO COM 195674106 7,182 194,100 SOLE
COLTEC INDUSTRIES COM 196879100 4,572 210,800 SOLE
COLUMBIA ENERGY GROUP COM 197648108 2,194 35,000 SOLE
COLUMBIA/HCA HEALTHCARE CO COM 197677107 306 13,396 SOLE
COLUMBIAN NORTHLAND EXPL COM 198675100 -- 27,300 SH SOLE
COMCAST CORP-CL A COM 200300101 358 10,000 SH SOLE
COMCAST CORP-CL A COM 200300101 57 1,600 SH DEFINED
COMERICA INC COM 200340107 339 5,700 SH DEFINED
COMMONWEALTH TELEPHONE ENTERPR COM 203349105 202 5,000 SH SOLE
COMSAT SERIES 1 COM 20564D107 1,454 44,725 SOLE
CONCENTRA MANAGED CARE INC COM 20589T103 258 17,500 SOLE
CONNECTICUT ENERGY CORP COM 207567108 1,778 46,100 SOLE
CONSOLIDATED NATURAL GAS C COM 209615103 4,356 71,700 SOLE
CONSUMERS FINANCIAL CORP COM 210520102 2 25,768 SOLE
COPLEY PHARMACEUTICAL INC COM 21745K101 495 48,300 SOLE
CORRECTIONAL SERVICES CORP COM 219921103 103 13,705 SOLE
CORT BUSINESS SERVICE CORP COM 220493100 256 10,700 SOLE
COUNTY SEAT STORES UTS 12. COM 222581AF7 354 5,054 SOLE
COX COMMUNICATIONS INC NEW CL COM 224044107 368 10,000 SH SOLE
CPI CORP COM 125902106 759 23,000 SOLE
CROWN CASTLE INTL CORP COM 228227104 208 10,000 SH SOLE
CROWN CASTLE INTL CORP COM 228227104 208 10,000 SH DEFINED
CRW FINANCIAL INC COM 126276104 1,533 275,232 SOLE
CSF HOLDINGS ESCROW COM 126335991 3 27,350 SOLE
CTG RESOURCES INC COM 125957100 9,174 252,200 SOLE
DAMEN FINANCIAL CORP COM 235906104 1,364 75,000 SOLE
DATA PROCESSING RESOURCES COM 237823109 707 30,000 SOLE
DATA TRANSMISSION NETWORK COM 238017107 1,986 70,615 SOLE
DAVEL COMMUNICATIONS INC ( COM 238341101 61 11,557 SOLE
<CAPTION>
VOTING AUTHORITY
OTHER -------------------------------------
NAME OF ISSUER MANAGERS SOLE SHARED NONE
- --------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
CITIZENS UTILITIES CO SER B 79,234 201,874
CLEAR CHANNEL COMMUNICATIONS I 01 3,800
CLEVELAND INDIANS BASEBALL 88,765
CLOROX CO 01 02 3,150 7,000
CMC INDUSTRIES INC 30,258
CMP GROUP 20,000
CNB BANCSHARES INC (bnk) 10,100
COACH USA INC 215,300
COAST FEDERAL LITIG RTS 154,300
COLEMAN CO 171,300
COLLAGEN AESTHETICS INC 27,696
COLONIAL GAS CO 194,100
COLTEC INDUSTRIES 210,800
COLUMBIA ENERGY GROUP 35,000
COLUMBIA/HCA HEALTHCARE CO 13,396
COLUMBIAN NORTHLAND EXPL 27,300
COMCAST CORP-CL A 10,000
COMCAST CORP-CL A 01 1,600
COMERICA INC 01 5,700
COMMONWEALTH TELEPHONE ENTERPR 5,000
COMSAT SERIES 1 44,725
CONCENTRA MANAGED CARE INC 17,500
CONNECTICUT ENERGY CORP 46,100
CONSOLIDATED NATURAL GAS C 71,700
CONSUMERS FINANCIAL CORP 25,768
COPLEY PHARMACEUTICAL INC 48,300
CORRECTIONAL SERVICES CORP 13,705
CORT BUSINESS SERVICE CORP 10,700
COUNTY SEAT STORES UTS 12. 5,054
COX COMMUNICATIONS INC NEW CL 10,000
CPI CORP 23,000
CROWN CASTLE INTL CORP 10,000
CROWN CASTLE INTL CORP 01 02 6,000 4,000
CRW FINANCIAL INC 275,232
CSF HOLDINGS ESCROW 27,350
CTG RESOURCES INC 252,200
DAMEN FINANCIAL CORP 75,000
DATA PROCESSING RESOURCES 30,000
DATA TRANSMISSION NETWORK 70,615
DAVEL COMMUNICATIONS INC ( 11,557
</TABLE>
Page 5
<PAGE>
LOEB ARBITRAGE MANAGEMENT
FORM 13F
JUNE 30, 1999
<TABLE>
<CAPTION>
NAME OF ISSUER TITLE VALUE SHARES/ SH/ PUT/ INVSTMT
OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
DAYTON HUDSON CORP COM 239753106 520 8,000 SH SOLE
DBL LIQUIDATING TRUST (dbl COM 233038108 -- 13,000 SOLE
DEERE & CO COM 244199105 198 5,000 SH SOLE
DEERE & CO COM 244199105 198 5,000 SH DEFINED
DELTA & PINE LAND CO COM 247357106 8,801 279,400 SOLE
DIALOGIC CORP COM 252499108 5,386 123,100 SOLE
DIME BANCORP INC NEW COM 25429Q102 1,097 54,500 SH DEFINED
DOLE FOOD CO INC COM 256605106 212 7,215 SH DEFINED
DOW JONES & CO INC COM 260561105 531 10,000 SH DEFINED
DUN & BRADSTREET CORP DEL COM 26483B106 876 24,712 SH DEFINED
DURAKON INDUSTRIES INC COM 266334101 1,908 121,600 SOLE
DYNASTY CLASSICS COM 268127107 -- 14,415 SOLE
DYNATECH CORP NEW (dyna) COM 268140100 56 16,399 SOLE
EAGLE BANCGROUP INC COM 26941T103 203 9,200 SOLE
EBS BUILDING LLC RSTD CL A COM NOT AVAIL 725 290,113 SOLE
EBS LITIGATION LLC RSTD CL COM NOT AVAIL 171 778,382 SOLE
EBS PENSION LLC RSTD CL A COM NOT AVAIL 321 783,461 SOLE
EDIFY CORP COM 280599101 596 45,000 SOLE
EDISON INTERNATIONAL COM 281020107 267 10,000 SH SOLE
EDISON INTERNATIONAL COM 281020107 226 8,443 SH DEFINED
EL PASO ENERGY CORP COM 283905107 282 8,000 SH SOLE
EL PASO ENERGY CORP COM 283905107 657 18,682 SH DEFINED
ELECTRONIC DATA SYSTEMS CORP COM 285661104 453 8,000 SH SOLE
ELECTRONIC DATA SYSTEMS CORP COM 285661104 40 700 SH DEFINED
ELSCINT LTD ORD NEW COM M40168102 955 85,800 SOLE
ELTRAX SYSTEMS INC COM 290375104 174 40,883 SOLE
EMC CORP-MASS COM 268648102 1,804 32,800 SH DEFINED
EMERALD FINANCIAL CORP COM 290927102 2,811 142,800 SOLE
EMMIS COMMUNICATIONS CORP-CL A COM 291525103 296 6,000 SH DEFINED
EMPI INC COM 291586105 463 18,900 SOLE
EMPIRE DIST ELECTRIC CO COM 291641108 758 29,100 SOLE
END OF THE ROAD TRUST CL A COM 292567104 900 450,092 SOLE
ENEX RESOURCES COM 292744208 68 19,363 SOLE
ENRON CORP COM 293561106 490 6,000 SH SOLE
ENRON CORP COM 293561106 24 294 SH DEFINED
ENRON OIL & GAS CO COM 293562104 202 10,000 SH SOLE
ENRON OIL & GAS CO COM 293562104 40 2,000 SH DEFINED
ENTERPRISE SOFTWARE INC COM 29379K107 755 95,099 SOLE
EQK REALTY INVESTORS 1 SBI COM 268820107 3 21,100 SH DEFINED
EQUITABLE COMPANIES INC COM 29444G107 1,233 18,400 SH DEFINED
<CAPTION>
VOTING AUTHORITY
OTHER --------------------------------------
NAME OF ISSUER MANAGERS SOLE SHARED NONE
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
DAYTON HUDSON CORP 8,000
DBL LIQUIDATING TRUST (dbl 13,000
DEERE & CO 5,000
DEERE & CO 01 5,000
DELTA & PINE LAND CO 279,400
DIALOGIC CORP 123,100
DIME BANCORP INC NEW 01 1,000 53,500
DOLE FOOD CO INC 01 02 6,215 1,000
DOW JONES & CO INC 01 02 8,500 1,500
DUN & BRADSTREET CORP DEL 01 02 14,412 10,300
DURAKON INDUSTRIES INC 121,600
DYNASTY CLASSICS 14,415
DYNATECH CORP NEW (dyna) 16,399
EAGLE BANCGROUP INC 9,200
EBS BUILDING LLC RSTD CL A 290,113
EBS LITIGATION LLC RSTD CL 778,382
EBS PENSION LLC RSTD CL A 783,461
EDIFY CORP 45,000
EDISON INTERNATIONAL 10,000
EDISON INTERNATIONAL 01 02 5,800 2,643
EL PASO ENERGY CORP 8,000
EL PASO ENERGY CORP 01 02 12,000 6,682
ELECTRONIC DATA SYSTEMS CORP 8,000
ELECTRONIC DATA SYSTEMS CORP 01 700
ELSCINT LTD ORD NEW 85,800
ELTRAX SYSTEMS INC 40,883
EMC CORP-MASS 01 02 19,400 13,400
EMERALD FINANCIAL CORP 142,800
EMMIS COMMUNICATIONS CORP-CL A 01 02 3,000 3,000
EMPI INC 18,900
EMPIRE DIST ELECTRIC CO 29,100
END OF THE ROAD TRUST CL A 450,092
ENEX RESOURCES 19,363
ENRON CORP 6,000
ENRON CORP 01 294
ENRON OIL & GAS CO 10,000
ENRON OIL & GAS CO 01 2,000
ENTERPRISE SOFTWARE INC 95,099
EQK REALTY INVESTORS 1 SBI 01 21,100
EQUITABLE COMPANIES INC 01 02 6,500 11,900
</TABLE>
Page 6
<PAGE>
LOEB ARBITRAGE MANAGEMENT
FORM 13F
JUNE 30, 1999
<TABLE>
<CAPTION>
NAME OF ISSUER TITLE VALUE SHARES/ SH/ PUT/ INVSTMT
OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
EQUITRAC CORP COM 294599105 1,399 74,600 SOLE
EQUITY RESIDENTIAL PPTYS T COM 29476L883 1,512 59,900 SOLE
ESKIMO PIE CORP COM 296443104 1,166 142,450 SOLE
ESSEF CORP COM 269145108 1,778 87,800 SOLE
EVEREN CAPITAL CORP COM 299761106 894 30,000 SOLE
EXECUTIVE RISK COM 301586103 3,003 35,300 SOLE
EXECUTIVE RISK INC COM 301586103 451 5,300 SH DEFINED
EXPERT SOFTWARE INC COM 302131107 221 83,221 SOLE
EXXON CORP COM 302290101 545 7,072 SH DEFINED
F&M BANCORPORATION INC WIS COM 302371109 619 16,400 SOLE
FAIRCHILD CORP CL A COM 303698104 955 74,863 SOLE
FANNIE MAE COM 313586109 663 9,700 SH DEFINED
FINANCIAL FEDERAL CORP COM 317492106 1,732 78,739 SH DEFINED
FINE COMM INTL CORP COM 317823102 39 11,000 SOLE
FIRST AMERICAN CORP TENN ( COM 318900107 3,117 75,000 SOLE
FIRST CITIZENS CORP COM 319588109 2,023 54,300 SOLE
FIRST COMMONWEALTH INC COM 319983102 323 13,200 SOLE
FIRST DATA CORP COM 319963104 392 8,000 SH SOLE
FIRST LIBERTY FINANCIAL CO COM 320691108 2,526 81,152 SOLE
FIRST REPUBLIC BANCORP INC COM 336158100 826 28,531 SH DEFINED
FIRST SECURITY CORP DEL COM 336294103 364 13,400 SOLE
FIRST SENTINEL BANCORP INC COM 33640T103 359 40,915 SOLE
FIRSTAR CORP WIS-NEW COM 33763V109 224 8,000 SH SOLE
FIRSTAR CORP WIS-NEW COM 33763V109 302 10,800 SH DEFINED
FOAMEX INTERNATIONAL INC COM 344123104 314 56,525 SOLE
FOILMARK INC COM 344185103 24 10,210 SOLE
FRANCHISE MORTGAGE ACCEPTA COM 35181D108 650 74,300 SOLE
FRESNIUS MED CARE HDLGS PF COM 358030203 -- 225,600 SOLE
FRONTIER CORP COM 35906P105 9,735 165,000 SOLE
FULTON BANCORP INC COM 359894102 493 27,475 SOLE
GANNETT CO INC COM 364730101 228 3,200 SH DEFINED
GBC BANCORP CALIF COM 361475106 569 28,100 SOLE
GENERAL ELECTRIC CO COM 369604103 2,384 21,100 SH DEFINED
GENERAL MOTORS CORP CL H COM 370442832 562 10,000 SH SOLE
GENERAL MOTORS CORP CL H COM 370442832 1,915 34,050 SH DEFINED
GEOSCIENCE CORP COM 373636109 452 63,500 SOLE
GILLETTE CO COM 375766102 451 10,994 SH DEFINED
GLAXO WELLCOME PLC SPONSORED A COM 37733W105 360 6,366 SH DEFINED
GLOBAL INDUSTRIAL TECHNOLO COM 379335102 2,840 235,400 SOLE
GOLDEN BOOKS FNCL TR 8.75% COM 38080R400 329 73,000 SOLE
<CAPTION>
VOTING AUTHORITY
NAME OF ISSUER OTHER --------------------------------------
MANAGERS SOLE SHARED NONE
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
EQUITRAC CORP 74,600
EQUITY RESIDENTIAL PPTYS T 59,900
ESKIMO PIE CORP 142,450
ESSEF CORP 87,800
EVEREN CAPITAL CORP 30,000
EXECUTIVE RISK 35,300
EXECUTIVE RISK INC 01 400 4,900
EXPERT SOFTWARE INC 83,221
EXXON CORP 01 02 5,200 1,872
F&M BANCORPORATION INC WIS 16,400
FAIRCHILD CORP CL A 74,863
FANNIE MAE 01 02 1,500 8,200
FINANCIAL FEDERAL CORP 01 1,050 77,689
FINE COMM INTL CORP 11,000
FIRST AMERICAN CORP TENN ( 75,000
FIRST CITIZENS CORP 54,300
FIRST COMMONWEALTH INC 13,200
FIRST DATA CORP 8,000
FIRST LIBERTY FINANCIAL CO 81,152
FIRST REPUBLIC BANCORP INC 01 02 5,000 23,531
FIRST SECURITY CORP DEL 13,400
FIRST SENTINEL BANCORP INC 40,915
FIRSTAR CORP WIS-NEW 8,000
FIRSTAR CORP WIS-NEW 01 10,800
FOAMEX INTERNATIONAL INC 56,525
FOILMARK INC 10,210
FRANCHISE MORTGAGE ACCEPTA 74,300
FRESNIUS MED CARE HDLGS PF 225,600
FRONTIER CORP 165,000
FULTON BANCORP INC 27,475
GANNETT CO INC 02 3,200
GBC BANCORP CALIF 28,100
GENERAL ELECTRIC CO 01 02 1,300 19,800
GENERAL MOTORS CORP CL H 10,000
GENERAL MOTORS CORP CL H 01 02 9,050 25,000
GEOSCIENCE CORP 63,500
GILLETTE CO 01 02 4,400 6,594
GLAXO WELLCOME PLC SPONSORED A 01 02 2,066 4,300
GLOBAL INDUSTRIAL TECHNOLO 235,400
GOLDEN BOOKS FNCL TR 8.75% 73,000
</TABLE>
Page 7
<PAGE>
LOEB ARBITRAGE MANAGEMENT
FORM 13F
JUNE 30, 1999
<TABLE>
<CAPTION>
NAME OF ISSUER TITLE VALUE SHARES/ SH/ PUT/ INVSTMT
OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
GOLDEN STATE BANCORP WTS COM 381197136 242 184,239 SOLE
GROW BIZ INTL INC COM 399817105 201 24,700 SOLE
GTE CORP COM 362320103 757 10,000 SH SOLE
GTE CORP COM 362320103 1,664 21,962 SH DEFINED
GULFMARK INTERNATIONAL INC COM 402629109 877 46,180 SH DEFINED
GULFPORT ENERGY NEW COM 402635304 68 34,967 SOLE
GULFSTREAM AEROSPACE CORP COM 402734107 6,459 95,600 SOLE
HACH CO COM 404504102 535 29,500 SOLE
HACH CO CL A COM 40404201 1,759 101,237 SOLE
HALLIBURTON CO COM 406216101 362 8,000 SH SOLE
HALLIBURTON CO COM 406216101 362 8,000 SH DEFINED
HALTER MARINE GROUP INC COM 40642Y102 331 50,000 SOLE
HANNAFORD BROS CO COM 410550107 2,846 53,200 SOLE
HARDING LAWSON ASSOC COM 412293102 135 16,000 SOLE
HAYES LEMMERZ INTERNATIONA COM 420781106 1,028 35,000 SOLE
HEALTHCARE FINANCIAL PARTN COM 42219W108 2,487 72,600 SOLE
HERLEY INDUSTRY INC DEL WT COM 427398128 127 48,800 SOLE
HEWLETT PACKARD CO COM 428236103 854 8,500 SH DEFINED
HIBERNIA CORP-CL A COM 428656102 937 59,755 SOLE
HILLS STORE COMPANY CONT R COM 431COM991 -- 500,000 SOLE
HILLS STORES CO EXCH/TENDE COM 431COM991 -- 2,250,000 SOLE
HOLLINGER INTERNATIONAL INC CL COM 435569108 249 21,000 SH DEFINED
HOLLY CORP NEW COM 435758305 301 22,500 SOLE
HOLLYWOOD PARK (hpk) COM 436255103 565 33,226 SOLE
HOLOPHANE CORP COM 43645B106 763 20,000 SOLE
HOME DEPOT INC COM 437076102 644 10,000 SH SOLE
HOME DEPOT INC COM 437076102 789 12,250 SH DEFINED
HONEYWELL INC COM 438506107 12,155 104,900 SOLE
HOST MARRIOTT CORP-NEW REIT COM 44107P104 530 44,652 SH DEFINED
HOUSEHOLD INTERNATIONAL INC COM 441815107 341 7,200 SH DEFINED
IMPERIAL CREDIT COMM MTG I COM 45272T102 1,409 130,300 SOLE
IMPERIAL CREDIT COMMERCIAL MOR COM 45272T102 216 20,000 SH SOLE
IMPERIAL SUGAR CO NEW COM 453096109 305 43,986 SOLE
IMS HEALTH INC COM 449934108 1,276 40,824 SH DEFINED
INCO LTD CL VBN (VOYSEY BA COM 453258709 392 52,400 SOLE
INNOVATIVE CLINICAL SOLUTI COM 45767E107 221 150,800 SOLE
INSITUFORM EAST INC COM 457662104 29 23,300 SOLE
INSTRON CORP COM 457776102 367 18,100 SOLE
INSURANCE AUTO AUCTIONS IN COM 457875102 562 35,100 SOLE
INTEK GLOBAL CORP COM 458134103 755 284,170 SOLE
<CAPTION>
VOTING AUTHORITY
NAME OF ISSUER OTHER --------------------------------------
MANAGERS SOLE SHARED NONE
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
GOLDEN STATE BANCORP WTS 184,239
GROW BIZ INTL INC 24,700
GTE CORP 10,000
GTE CORP 01 02 4,962 17,000
GULFMARK INTERNATIONAL INC 01 02 7,600 38,580
GULFPORT ENERGY NEW 34,967
GULFSTREAM AEROSPACE CORP 95,600
HACH CO 29,500
HACH CO CL A 101,237
HALLIBURTON CO 8,000
HALLIBURTON CO 01 8,000
HALTER MARINE GROUP INC 50,000
HANNAFORD BROS CO 53,200
HARDING LAWSON ASSOC 16,000
HAYES LEMMERZ INTERNATIONA 35,000
HEALTHCARE FINANCIAL PARTN 72,600
HERLEY INDUSTRY INC DEL WT 48,800
HEWLETT PACKARD CO 01 02 3,500 5,000
HIBERNIA CORP-CL A 59,755
HILLS STORE COMPANY CONT R 500,000
HILLS STORES CO EXCH/TENDE 2,250,000
HOLLINGER INTERNATIONAL INC CL 01 02 15,000 6,000
HOLLY CORP NEW 22,500
HOLLYWOOD PARK (hpk) 33,226
HOLOPHANE CORP 20,000
HOME DEPOT INC 10,000
HOME DEPOT INC 01 02 4,000 8,250
HONEYWELL INC 104,900
HOST MARRIOTT CORP-NEW REIT 01 02 4,348 40,304
HOUSEHOLD INTERNATIONAL INC 01 7,200
IMPERIAL CREDIT COMM MTG I 130,300
IMPERIAL CREDIT COMMERCIAL MOR 20,000
IMPERIAL SUGAR CO NEW 43,986
IMS HEALTH INC 01 02 28,824 12,000
INCO LTD CL VBN (VOYSEY BA 52,400
INNOVATIVE CLINICAL SOLUTI 150,800
INSITUFORM EAST INC 23,300
INSTRON CORP 18,100
INSURANCE AUTO AUCTIONS IN 35,100
INTEK GLOBAL CORP 284,170
</TABLE>
Page 8
<PAGE>
LOEB ARBITRAGE MANAGEMENT
FORM 13F
JUNE 30, 1999
<TABLE>
<CAPTION>
NAME OF ISSUER TITLE VALUE SHARES/ SH/ PUT/ INVSTMT
OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
INTEL CORP COM 458140100 476 8,000 SH SOLE
INTERGRATED SENSOR SOLUTIO COM 45814M102 194 24,324 SOLE
INTERLINQ SOFTWARE CORP COM 458753100 608 91,775 SOLE
INTERMAGNETICS GENERAL CORP COM 458771102 125 16,112 SH DEFINED
INTERNATIONAL BUSINESS MACHINE COM 459200101 646 5,000 SH SOLE
INTERNATIONAL BUSINESS MACHINE COM 459200101 2,206 17,068 SH DEFINED
INTERNATIONAL PAPER CO COM 460146103 404 8,000 SH SOLE
INTERPUBLIC GROUP OF COS INC COM 460690100 507 5,848 SH DEFINED
INTL COMFORT PRODUCTS CORP COM 458978103 1,536 135,000 SOLE
JAPAN OTC EQUITY FUND INC COM 471091108 228 21,300 SOLE
JDS FITEL INC COM 465934107 13,188 157,700 SOLE
JEFFBANKS INC COM 472317106 808 28,400 SOLE
JEVIC TRANSPORTATION INC COM 47719P107 2,213 159,500 SOLE
JOHN HANCOCK BANK & THRIFT OPP COM 409735107 95 10,000 SH SOLE
JOHN HANCOCK BANK & THRIFT OPP COM 409735107 541 57,000 SH DEFINED
JOHNS MANVILLE CORP COM 478129109 260 20,000 SOLE
JOHNSON & JOHNSON COM 478160104 784 8,000 SH SOLE
JOHNSON & JOHNSON COM 478160104 3,518 35,900 SH DEFINED
JONES INTERCABLE INC COM 480206101 240 5,000 SH SOLE
JUNO LIGHTING INC COM 482047206 3,278 144,400 SOLE
K N ENERGY INC COM 482620101 167 12,450 SH DEFINED
KANSAS CITY POWER & LIGHT COM 485134100 4,009 157,200 SOLE
KANSAS CITY SO COM 485170104 319 5,000 SH DEFINED
KDI CORP-CONTINGENT PMT UNIT COM 482452307 -- 149,500 SH SOLE
KERR MCGEE CORP COM 492386107 502 10,000 SH SOLE
KEYCORP NEW (key) COM 493267108 579 18,028 SOLE
KNOLL INC COM 498904101 1,731 65,000 SOLE
KROGER CO COM 501044101 710 25,402 SOLE
KTI INC NEW COM 482689205 558 39,500 SOLE
LAB HOLDINGS INC COM 505353102 1,123 81,649 SOLE
LABORATORY CORP AMER WTS 4 COM 50540R110 -- 21,445 SOLE
LABORATORY CORP OF AMERICA COM 50540R201 176 3,000 SH SOLE
LABORATORY CORP OF AMERICA COM 50540R201 59 1,000 SH DEFINED
LABORATORY CORP OF AMERICA COM 50540R201 518 8,835 SOLE
LABORATORY CORP OF AMERICA HOL COM 50540R102 29 10,000 SH SOLE
LAI WORLDWIDE INC COM 501718100 241 36,000 SOLE
LAKES GAMING INC COM 51206P109 465 42,474 SOLE
LANDSING PACIFIC FUND COM 515096105 1 81,850 SOLE
LEVEL ONE COMMUNICATIONS I COM 527295109 1,995 40,775 SOLE
LIFE TECHNOLOGIES INC NEW COM 532177201 481 13,356 SOLE
<CAPTION>
VOTING AUTHORITY
NAME OF ISSUER OTHER --------------------------------------
MANAGERS SOLE SHARED NONE
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
INTEL CORP 8,000
INTERGRATED SENSOR SOLUTIO 24,324
INTERLINQ SOFTWARE CORP 91,775
INTERMAGNETICS GENERAL CORP 01 16,112
INTERNATIONAL BUSINESS MACHINE 5,000
INTERNATIONAL BUSINESS MACHINE 01 02 4,944 12,124
INTERNATIONAL PAPER CO 8,000
INTERPUBLIC GROUP OF COS INC 01 5,848
INTL COMFORT PRODUCTS CORP 135,000
JAPAN OTC EQUITY FUND INC 21,300
JDS FITEL INC 157,700
JEFFBANKS INC 28,400
JEVIC TRANSPORTATION INC 159,500
JOHN HANCOCK BANK & THRIFT OPP 10,000
JOHN HANCOCK BANK & THRIFT OPP 01 57,000
JOHNS MANVILLE CORP 20,000
JOHNSON & JOHNSON 8,000
JOHNSON & JOHNSON 01 02 8,400 27,500
JONES INTERCABLE INC 5,000
JUNO LIGHTING INC 144,400
K N ENERGY INC 01 02 10,650 1,800
KANSAS CITY POWER & LIGHT 157,200
KANSAS CITY SO 02 5,000
KDI CORP-CONTINGENT PMT UNIT 149,500
KERR MCGEE CORP 10,000
KEYCORP NEW (key) 18,028
KNOLL INC 65,000
KROGER CO 25,402
KTI INC NEW 39,500
LAB HOLDINGS INC 81,649
LABORATORY CORP AMER WTS 4 21,445
LABORATORY CORP OF AMERICA 3,000
LABORATORY CORP OF AMERICA 01 1,000
LABORATORY CORP OF AMERICA 8,835
LABORATORY CORP OF AMERICA HOL 10,000
LAI WORLDWIDE INC 36,000
LAKES GAMING INC 42,474
LANDSING PACIFIC FUND 81,850
LEVEL ONE COMMUNICATIONS I 40,775
LIFE TECHNOLOGIES INC NEW 13,356
</TABLE>
Page 9
<PAGE>
LOEB ARBITRAGE MANAGEMENT
FORM 13F
JUNE 30, 1999
<TABLE>
<CAPTION>
NAME OF ISSUER TITLE VALUE SHARES/ SH/ PUT/ INVSTMT
OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
LIFE USA HOLDING INC NEW COM 531918209 1,244 61,600 SOLE
LIFELINE SYSTEMS INC COM 532192101 2,419 125,675 SOLE
LIFEPOINT HOSPITALS INC COM 53219L109 143 10,703 SOLE
LIMITED INC COM 532716107 844 18,600 SOLE
LITTLE SWITZERLAND INC COM 537528101 90 130,900 SOLE
LOCKHEED MARTIN CORP COM 539830109 298 8,000 SH DEFINED
LONE STAR LIQUIDATING TRUS COM 54229R102 1,225 9,802,855 SOLE
LONG BEACH FINANCIAL CORP COM 542446109 546 37,500 SOLE
LORAL SPACE & COM G56462107 360 20,000 SH SOLE
LORAL SPACE & COM G56462107 47 2,600 SH DEFINED
LOWRANCE ELECTRONICS INC COM 548900109 427 71,200 SOLE
LUCENT TECHNOLOGIES INC COM 549463107 674 10,000 SH SOLE
LUCENT TECHNOLOGIES INC COM 549463107 989 14,670 SH DEFINED
M & T BANK CORP (mtb) COM 55261F104 303 550 SOLE
MACMILLAN BLOEDEL LTD COM 554783209 360 20,000 SOLE
MAHONING NATIONAL BANCORP COM 560090102 1,242 28,550 SOLE
MANUGISTICS GROUP INC COM 565011103 1,636 113,800 SOLE
MARCAM SOLUTIONS INC COM 56614A107 1,111 148,700 SOLE
MARKET GUIDE INC NEW COM 570565200 669 31,500 SOLE
MASON DIXON BANCSHARES INC COM 575207105 238 5,000 SOLE
MATLACK SYSTEMS INC COM 576901102 321 61,100 SOLE
MATRIX BANCORP INC COM 576819106 861 61,474 SOLE
MATTEL INC COM 577081102 2,751 104,038 SOLE
MAXXIM MEDICAL INC COM 57777G105 583 25,000 SOLE
MBO PROPERTIES INC (mbopq) COM 55263L109 271 360,857 SOLE
MCDONALDS CORP COM 580135101 942 22,800 SH DEFINED
MCI WORLDCOM INC COM 55268B106 862 10,000 SH SOLE
MCI WORLDCOM INC COM 55268B106 103 1,200 SH DEFINED
MEDE AMERICA CORP COM 584067102 793 21,000 SOLE
MEDIAONE GROUP INC COM 58440J104 1,687 22,680 SH DEFINED
MEDIAONE GROUP INC (umg) COM 58440J104 14,674 197,300 SOLE
MEDICAL MANAGER CORP COM 58461C103 1,288 29,100 SOLE
MEDICAL RESOURCES INC-NEW COM 58461Q409 17 10,666 SOLE
MEDIWARE INFORMATION SYSTE COM 584946107 422 57,200 SOLE
MELLON BANK CORP COM 585509102 754 20,740 SH DEFINED
MERCANTILE BANCORP COM 587342106 4,972 87,042 SOLE
MERCK & CO INC COM 589331107 688 9,300 SH DEFINED
MEREDITH CORP COM 589433101 215 6,200 SH DEFINED
MERIDIAN DATA INC COM 589601103 181 20,700 SOLE
MERIDIAN MEDICAL TECHNOLOG COM 589658103 142 22,350 SOLE
<CAPTION>
VOTING AUTHORITY
NAME OF ISSUER OTHER --------------------------------------
MANAGERS SOLE SHARED NONE
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
LIFE USA HOLDING INC NEW 61,600
LIFELINE SYSTEMS INC 125,675
LIFEPOINT HOSPITALS INC 10,703
LIMITED INC 18,600
LITTLE SWITZERLAND INC 130,900
LOCKHEED MARTIN CORP 02 8,000
LONE STAR LIQUIDATING TRUS 9,802,855
LONG BEACH FINANCIAL CORP 37,500
LORAL SPACE & 20,000
LORAL SPACE & 01 02 2,200 400
LOWRANCE ELECTRONICS INC 71,200
LUCENT TECHNOLOGIES INC 10,000
LUCENT TECHNOLOGIES INC 01 02 5,256 9,414
M & T BANK CORP (mtb) 550
MACMILLAN BLOEDEL LTD 20,000
MAHONING NATIONAL BANCORP 28,550
MANUGISTICS GROUP INC 113,800
MARCAM SOLUTIONS INC 148,700
MARKET GUIDE INC NEW 31,500
MASON DIXON BANCSHARES INC 5,000
MATLACK SYSTEMS INC 61,100
MATRIX BANCORP INC 61,474
MATTEL INC 104,038
MAXXIM MEDICAL INC 25,000
MBO PROPERTIES INC (mbopq) 360,857
MCDONALDS CORP 01 02 4,400 18,400
MCI WORLDCOM INC 10,000
MCI WORLDCOM INC 01 1,200
MEDE AMERICA CORP 21,000
MEDIAONE GROUP INC 01 02 6,000 16,680
MEDIAONE GROUP INC (umg) 197,300
MEDICAL MANAGER CORP 29,100
MEDICAL RESOURCES INC-NEW 10,666
MEDIWARE INFORMATION SYSTE 57,200
MELLON BANK CORP 01 02 10,000 10,740
MERCANTILE BANCORP 87,042
MERCK & CO INC 01 02 9,200 100
MEREDITH CORP 01 6,200
MERIDIAN DATA INC 20,700
MERIDIAN MEDICAL TECHNOLOG 22,350
</TABLE>
Page 10
<PAGE>
LOEB ARBITRAGE MANAGEMENT
FORM 13F
JUNE 30, 1999
<TABLE>
<CAPTION>
NAME OF ISSUER TITLE VALUE SHARES/ SH/ PUT/ INVSTMT
OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
MERIDIAN RESOURCE CORP (TH COM 58977Q109 159 41,106 SOLE
MERISTAR HOTELS & RESORTS COM 589988104 444 129,100 SOLE
MERIT HOLDING CORP COM 589964105 1,174 52,622 SOLE
MERRILL LYNCH & CO INC COM 590188108 4,540 56,800 SOLE
MERRY LAND PROPERTIES INC COM 590441101 54 10,968 SOLE
METRA BIOSYSTEMS INC COM 591591102 160 95,000 SOLE
METRIKA SYSTEMS CORP COM 59159M106 266 30,400 SOLE
METROCALL INC RTS COM 591647110 -- 67,749 SOLE
MGI PROPERTY (mgi) COM 552885105 4,574 161,900 SOLE
MGM GRAND INC COM 552953101 727 14,831 SOLE
MICRION CORP COM 59479P102 880 80,035 SOLE
MICROS TO MAINFRAMES INC COM 594944100 247 69,435 SOLE
MICROSOFT CORP COM 594918104 451 5,000 SH SOLE
MICROSOFT CORP COM 594918104 2,045 22,680 SH DEFINED
MILESTONE PROPERTIES INC ( COM 599358108 468 143,863 SOLE
MOBIL CORP COM 607059102 440 4,448 SH DEFINED
MONSANTO CO COM 611662107 256 6,500 SH DEFINED
MOORE MEDICAL CORP COM 615799103 367 35,200 SOLE
MORGAN PRODUCTS LTD COM 617439104 528 138,400 SOLE
MOSAIX INC COM 619454101 3,055 237,300 SOLE
MUTUAL SAVINGS BK FSB BAY COM 628355109 927 70,300 SOLE
NABISCO GROUP HOLDINGS COR COM 62952P102 3,181 162,600 SOLE
NALCO CHEM COM 629853102 8,300 160,000 SOLE
NATIONAL PROCESSING INC COM 637229105 304 30,000 SOLE
NATIONSRENT INC COM 638588103 447 62,700 SOLE
NAVIGANT INTERNATIONAL INC COM 63935R108 134 17,134 SOLE
NEOPATH INC COM 640517108 210 54,100 SOLE
NESTLE SA-SPONSORED ADR REPSTG COM 641069406 1,550 17,200 SH DEFINED
NEW HOLLAND NV (nh) COM N62648105 171 10,000 SOLE
NEW PLAN EXCEL REALTY TRUST IN COM 648053106 210 11,650 SH DEFINED
NEWCOURT CREDIT GROUP INC COM 650905102 259 20,000 SOLE
NEWPARK RESOURCES INC NEW COM 651718504 89 10,000 SH DEFINED
NEWPARK RESOURCES INC NEW COM 651718504 355 40,000 SOLE
NEWPORT NEWS SHIPBUILDING COM 652228107 1,301 44,100 SOLE
NEWS CORP LTD-SPONSORED ADR RE COM 652487802 410 13,000 SH DEFINED
NEXSTAR PHARMACEUTICALS COM 65333B106 4,969 252,416 SOLE
NEXTEL COMMUNICATIONS INC-CL A COM 65332V103 502 10,000 SH SOLE
NIELSEN MEDIA RESEARCH INC NEW COM 653929307 219 7,491 SH DEFINED
NOBEL INSURANCE LTD COM 654885102 123 163,612 SOLE
NOBEL LEARNING COMMUNITIES COM 654889104 145 29,340 SOLE
<CAPTION>
VOTING AUTHORITY
NAME OF ISSUER OTHER ------------------------------
MANAGERS SOLE SHARED NONE
- ----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
MERIDIAN RESOURCE CORP (TH 41,106
MERISTAR HOTELS & RESORTS 129,100
MERIT HOLDING CORP 52,622
MERRILL LYNCH & CO INC 56,800
MERRY LAND PROPERTIES INC 10,968
METRA BIOSYSTEMS INC 95,000
METRIKA SYSTEMS CORP 30,400
METROCALL INC RTS 67,749
MGI PROPERTY (mgi) 161,900
MGM GRAND INC 14,831
MICRION CORP 80,035
MICROS TO MAINFRAMES INC 69,435
MICROSOFT CORP 5,000
MICROSOFT CORP 01 02 12,600 10,080
MILESTONE PROPERTIES INC ( 143,863
MOBIL CORP 01 02 2,840 1,608
MONSANTO CO 02 01 6,000 500
MOORE MEDICAL CORP 35,200
MORGAN PRODUCTS LTD 138,400
MOSAIX INC 237,300
MUTUAL SAVINGS BK FSB BAY 70,300
NABISCO GROUP HOLDINGS COR 162,600
NALCO CHEM 160,000
NATIONAL PROCESSING INC 30,000
NATIONSRENT INC 62,700
NAVIGANT INTERNATIONAL INC 17,134
NEOPATH INC 54,100
NESTLE SA-SPONSORED ADR REPSTG 01 02 9,700 7,500
NEW HOLLAND NV (nh) 10,000
NEW PLAN EXCEL REALTY TRUST IN 01 11,650
NEWCOURT CREDIT GROUP INC 20,000
NEWPARK RESOURCES INC NEW 02 10,000
NEWPARK RESOURCES INC NEW 40,000
NEWPORT NEWS SHIPBUILDING 44,100
NEWS CORP LTD-SPONSORED ADR RE 01 02 10,000 3,000
NEXSTAR PHARMACEUTICALS 252,416
NEXTEL COMMUNICATIONS INC-CL A 10,000
NIELSEN MEDIA RESEARCH INC NEW 01 02 4,802 2,689
NOBEL INSURANCE LTD 163,612
NOBEL LEARNING COMMUNITIES 29,340
</TABLE>
Page 11
<PAGE>
LOEB ARBITRAGE MANAGEMENT
FORM 13F
JUNE 30, 1999
<TABLE>
<CAPTION>
NAME OF ISSUER TITLE VALUE SHARES/ SH/ PUT/ INVSTMT
OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
NOEL GROUP INC COM 655260107 254 247,800 SOLE
NOMAS CORP NEV COM 65531N100 70 26,819 SOLE
NOMAS CORP NEW PFD SER A COM 65531N209 70 26,819 SOLE
NORRELL CORP GA COM 656301108 1,221 64,900 SOLE
NORTEL NETWORKS CORP COM 656569100 695 8,000 SH SOLE
NORTH AMERICAN BANK & TRUST CO COM 656751104 55 10,000 SH DEFINED
NORTH CAROLINA NATURAL GAS COM 658221106 4,421 129,800 SOLE
NORTH FORK BANCORPORATION INC COM 659424105 234 11,000 SH DEFINED
NORTHEAST BANCORP ESCROW/R COM 664058989 2 153,030 SOLE
NORTHEAST UTILITIES COM 664397106 177 10,000 SH SOLE
NORTHEAST UTILITIES COM 664397106 5 300 SH DEFINED
NORTHROP GRUMMAN CORP COM 666807102 663 10,000 SOLE
NORTHWEST EQUITY CORP COM 667454102 779 34,600 SOLE
NOVACARE INC COM 669930109 94 62,930 SOLE
NOVARTIS AG-SPONSORED ADR COM 66987V109 548 7,500 SH DEFINED
NTL INCORPORATED COM 629407107 2,195 25,465 SH DEFINED
NUCENTRIX BROADBAND NETWOR COM 670198100 2,287 81,300 SOLE
O SULLIVAN CORP COM 688605104 2,313 189,800 SOLE
OMNICOM GROUP INC COM 681919106 640 8,000 SH SOLE
OMNICOM GROUP INC COM 681919106 104 1,300 SH DEFINED
OMNIPOINT CORP COM 68212D102 2,166 75,000 SOLE
ONIX SYSTEMS INC COM 67088G108 238 39,600 SOLE
ORANGE & ROCKLAND UTILITIE COM 684065105 5,446 93,200 SOLE
ORANGE NATIONAL BANCORP-CA COM 685080103 2,652 76,600 SOLE
ORCAD INC COM 685568107 2,973 234,300 SOLE
ORTHOFIX INT NV COM N6748L102 404 27,189 SOLE
OSHAP TECHNOLOGIES LTD COM 671039105 3,780 296,500 SOLE
O'SULLIVAN INDUSTRIES HOLD COM 688609106 938 55,200 SOLE
OUTDOOR SYSTEMS INC COM 690057104 5,694 156,000 SOLE
PACIFICARE HEALTH SYSTEMS COM 695112102 1,446 20,100 SOLE
PACIFICORP COM 695114108 1,953 106,300 SOLE
PALL CORP COM 696429307 1,819 81,996 SH DEFINED
PAMIDA HOLDING CORP COM 697642106 1,873 162,900 SOLE
PAREXEL INTERNATIONAL CORP COM 699462107 865 65,000 SOLE
PARK PLACE ENTERTAINMENT C COM 700690100 1,032 106,500 SOLE
PATRICK INDUSTRIES INC COM 703343103 184 11,700 SOLE
PAYMENTECH INC COM 704384106 3,045 120,000 SOLE
PEAK INTERNATIONAL LTD COM G69586108 889 130,450 SOLE
PENNCORP FINL GROUP INC $3 COM 708094701 276 29,000 SOLE
PENNSYLVANIA ENTERPRISES I COM 708720107 767 25,000 SOLE
<CAPTION>
VOTING AUTHORITY
NAME OF ISSUER OTHER --------------------------------
MANAGERS SOLE SHARED NONE
- -----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
NOEL GROUP INC 247,800
NOMAS CORP NEV 26,819
NOMAS CORP NEW PFD SER A 26,819
NORRELL CORP GA 64,900
NORTEL NETWORKS CORP 8,000
NORTH AMERICAN BANK & TRUST CO 01 10,000
NORTH CAROLINA NATURAL GAS 129,800
NORTH FORK BANCORPORATION INC 01 11,000
NORTHEAST BANCORP ESCROW/R 153,030
NORTHEAST UTILITIES 10,000
NORTHEAST UTILITIES 01 300
NORTHROP GRUMMAN CORP 10,000
NORTHWEST EQUITY CORP 34,600
NOVACARE INC 62,930
NOVARTIS AG-SPONSORED ADR 02 7,500
NTL INCORPORATED 01 02 1,800 23,665
NUCENTRIX BROADBAND NETWOR 81,300
O SULLIVAN CORP 189,800
OMNICOM GROUP INC 8,000
OMNICOM GROUP INC 01 1,300
OMNIPOINT CORP 75,000
ONIX SYSTEMS INC 39,600
ORANGE & ROCKLAND UTILITIE 93,200
ORANGE NATIONAL BANCORP-CA 76,600
ORCAD INC 234,300
ORTHOFIX INT NV 27,189
OSHAP TECHNOLOGIES LTD 296,500
O'SULLIVAN INDUSTRIES HOLD 55,200
OUTDOOR SYSTEMS INC 156,000
PACIFICARE HEALTH SYSTEMS 20,100
PACIFICORP 106,300
PALL CORP 01 02 3,233 78,763
PAMIDA HOLDING CORP 162,900
PAREXEL INTERNATIONAL CORP 65,000
PARK PLACE ENTERTAINMENT C 106,500
PATRICK INDUSTRIES INC 11,700
PAYMENTECH INC 120,000
PEAK INTERNATIONAL LTD 130,450
PENNCORP FINL GROUP INC $3 29,000
PENNSYLVANIA ENTERPRISES I 25,000
</TABLE>
Page 12
<PAGE>
LOEB ARBITRAGE MANAGEMENT
FORM 13F
JUNE 30, 1999
<TABLE>
<CAPTION>
NAME OF ISSUER TITLE VALUE SHARES/ SH/ PUT/ INVSTMT
OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
PENNZOIL-QUAKER STATE CO ( COM 709323109 851 56,725 SOLE
PENSKE MOTORSPORTS INC COM 709598106 1,581 31,900 SOLE
PEOPLES BANCORP INC NEW COM 709909105 2,278 233,600 SOLE
PEOPLES CHOICE TV COM 710847104 808 85,000 SOLE
PEPSICO INC COM 713448108 319 8,240 SH DEFINED
PETRIE STORES LIQUIDATING COM 716437108 442 186,075 SOLE
PFIZER INC COM 717081103 2,762 25,162 SH DEFINED
PHILADELPHIA SUBURBAN CORP COM 718009608 1,075 46,600 SOLE
PHOENIX NETWORK INC-ESCROW COM 718910995 -- 120,100 SOLE
PHYSICIANS SPECIALITY CORP COM 718934102 115 12,000 SOLE
PINNACLE BANC GROUP INC COM 723449104 451 14,200 SOLE
PIONEER BANCORPORATION- NE COM 72356L102 558 18,000 SOLE
PIONEER HI-BRED INTL INC COM 723686101 4,871 125,100 SOLE
PIXTECH INC COM 72583K109 121 80,400 SH DEFINED
PLATINUM TECHNOLOGY INC COM 72764T101 2,488 85,044 SOLE
PLAYCORE INC (pco) COM 72811G102 186 32,412 SOLE
PLAYERS INTERNATIONAL INC COM 727903106 1,124 156,430 SOLE
PLD TELEKOM INC DEL COM 69340T100 184 59,034 SOLE
POOL ENERGY COM 732788104 4,314 212,400 SOLE
POWERHOUSE TECHNOLOGIES IN COM 739323103 2,615 134,100 SOLE
PRAXAIR INC COM 74005P104 881 18,000 SOLE
PREMIERE PAGE INC ESCROW COM 74058E998 -- 27,000 SOLE
PREMIERE TECHNOLOGIES INC COM 74058F102 155 13,583 SOLE
PRIME BANCORP INC DEL COM 741914105 566 20,500 SOLE
PRIME HOSPITALITY CORP COM 741917108 348 29,000 SH SOLE
PRIME HOSPITALITY CORP COM 741917108 652 54,300 SH DEFINED
PRIME HOSPITALITY CORP COM 741917108 485 40,400 SOLE
PRIME RETAIL INC 8.5% CV P COM 741570303 355 22,198 SOLE
PROCTER & GAMBLE CO COM 742718109 1,439 16,120 SH DEFINED
PROFESSIONAL BANCORP INC COM 743112104 957 46,100 SOLE
PROSPECT GROUP NEW (pros) COM 742918501 3 18,811 SOLE
PROVIDENT BANKSHARES CORP COM 743859100 3,183 136,896 SH DEFINED
PROVIDENT COMPANIES INC COM 743862104 312 7,800 SOLE
PUBLIC SERVICE CO OF NC IN COM 744516105 2,943 100,600 SOLE
PULSEPOINT COMM CORP COM 745913103 314 52,824 SOLE
QMS INC COM 74726G102 130 23,700 SOLE
QUINTILES TRANSNATIONAL CO COM 748767100 1,148 27,374 SOLE
QUIPP INC COM 748802105 250 19,200 SOLE
RALSTON-RALSTON PURINA GRO COM 751277302 916 30,100 SOLE
RANGE RESOURCES CORP COM 75281A109 807 131,829 SOLE
<CAPTION>
VOTING AUTHORITY
NAME OF ISSUER OTHER --------------------------------
MANAGERS SOLE SHARED NONE
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
PENNZOIL-QUAKER STATE CO ( 56,725
PENSKE MOTORSPORTS INC 31,900
PEOPLES BANCORP INC NEW 233,600
PEOPLES CHOICE TV 85,000
PEPSICO INC 01 02 5,400 2,840
PETRIE STORES LIQUIDATING 186,075
PFIZER INC 01 02 15,550 9,612
PHILADELPHIA SUBURBAN CORP 46,600
PHOENIX NETWORK INC-ESCROW 120,100
PHYSICIANS SPECIALITY CORP 12,000
PINNACLE BANC GROUP INC 14,200
PIONEER BANCORPORATION- NE 18,000
PIONEER HI-BRED INTL INC 125,100
PIXTECH INC 01 80,400
PLATINUM TECHNOLOGY INC 85,044
PLAYCORE INC (pco) 32,412
PLAYERS INTERNATIONAL INC 156,430
PLD TELEKOM INC DEL 59,034
POOL ENERGY 212,400
POWERHOUSE TECHNOLOGIES IN 134,100
PRAXAIR INC 18,000
PREMIERE PAGE INC ESCROW 27,000
PREMIERE TECHNOLOGIES INC 13,583
PRIME BANCORP INC DEL 20,500
PRIME HOSPITALITY CORP 29,000
PRIME HOSPITALITY CORP 01 02 2,800 51,500
PRIME HOSPITALITY CORP 40,400
PRIME RETAIL INC 8.5% CV P 22,198
PROCTER & GAMBLE CO 01 02 1,600 14,520
PROFESSIONAL BANCORP INC 46,100
PROSPECT GROUP NEW (pros) 18,811
PROVIDENT BANKSHARES CORP 01 02 18,379 118,517
PROVIDENT COMPANIES INC 7,800
PUBLIC SERVICE CO OF NC IN 100,600
PULSEPOINT COMM CORP 52,824
QMS INC 23,700
QUINTILES TRANSNATIONAL CO 27,374
QUIPP INC 19,200
RALSTON-RALSTON PURINA GRO 30,100
RANGE RESOURCES CORP 131,829
</TABLE>
Page 13
<PAGE>
LOEB ARBITRAGE MANAGEMENT
FORM 13F
JUNE 30, 1999
<TABLE>
<CAPTION>
NAME OF ISSUER TITLE VALUE SHARES/ SH/ PUT/ INVSTMT
OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
RAYCHEM INC COM 754603108 14,067 380,200 SOLE
RAYTECH CORP DEL COM 755103108 82 19,900 SOLE
RCN CORP COM 749361101 1,253 30,100 SOLE
RECKON ASSOC RLTY CORP CL COM 75621K304 4,435 185,763 SOLE
REGENCY BANCORP CALIFORNIA COM 75884Q105 1,262 72,131 SOLE
RELIASTAR FINANCIAL CORP COM 75952U103 367 8,400 SH DEFINED
RENTAL SERVICE CORP COM 76009V102 7,322 255,800 SOLE
REPUBLIC BANCORP INC-MICH COM 760282103 519 34,162 SOLE
REPUBLIC BANKING CORP OF F COM 760322107 2,502 130,400 SOLE
REPUBLIC NEW YORK CORP COM 760719104 5,455 80,000 SOLE
REPUBLIC SECURITY FINCL CO COM 760758102 182 21,810 SOLE
RESPONSE USA INC COM 761235506 52 27,700 SOLE
REUTERS GROUP PLC SPONSORED AD COM 76132M102 225 2,773 SH DEFINED
REYNOLDS RJ TOBACCO HLD IN COM 76182K105 1,287 40,865 SOLE
RIBI IMMUNOCHEM RESEARCH I COM 762553105 454 186,200 SOLE
RICHOOOD HOLDING INC COM 763408101 2,586 146,700 SOLE
RIVERA HOLDINGS CORP RTS COM 769627118 -- 52,475 SOLE
RIVIERA HOLDINGS CORP COM 769627100 225 40,075 SOLE
ROCHE HOLDING LTD SPONSORED AD COM 771195104 1,028 10,000 SH SOLE
ROCHE HOLDING LTD SPONSORED AD COM 771195104 3,826 37,220 SH DEFINED
ROCK BOTTOM RESTAURANTS IN COM 771833100 1,265 130,550 SOLE
ROCKY MOUNTAIN CHOCOLATE F COM 774678403 266 45,326 SOLE
ROHN INC COM 775381106 485 353,050 SOLE
ROSLYN BANCORP INC COM 778162107 2,664 154,978 SOLE
ROTONICS MANUFACTURING COM 778903104 200 200,200 SOLE
ROYAL DUTCH PETROLEUM CO NY RE COM 780257804 602 10,000 SH SOLE
ROYAL DUTCH PETROLEUM CO NY RE COM 780257804 482 8,000 SH DEFINED
RYERSON TULL INC NEW COM 78375P107 727 32,209 SOLE
SAGA SYSTEM INC (ags) COM 786610105 893 70,000 SOLE
SAUER INC COM 804137107 190 17,700 SH SOLE
SAUER INC COM 804137107 32 3,000 SH DEFINED
SBARRO INC COM 805844107 7,751 286,400 SOLE
SBC COMMUNICATIONS INC COM 78387G103 580 10,000 SH SOLE
SBC COMMUNICATIONS INC COM 78387G103 531 9,148 SH DEFINED
SCHERING PLOUGH CORP COM 806605101 1,071 20,200 SH DEFINED
SCHLUMBERGER LTD COM 806857108 637 10,000 SH SOLE
SCHLUMBERGER LTD COM 806857108 445 6,982 SH DEFINED
SCHOOL SPECIALTY INC COM 807863105 225 14,038 SOLE
SEAGRAM CO LTD COM 811850106 504 10,000 SH SOLE
SEAGRAM CO LTD COM 811850106 793 15,750 SH DEFINED
<CAPTION>
VOTING AUTHORITY
NAME OF ISSUER OTHER --------------------------------------
MANAGERS SOLE SHARED NONE
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
RAYCHEM INC 380,200
RAYTECH CORP DEL 19,900
RCN CORP 30,100
RECKON ASSOC RLTY CORP CL 185,763
REGENCY BANCORP CALIFORNIA 72,131
RELIASTAR FINANCIAL CORP 01 02 6,000 2,400
RENTAL SERVICE CORP 255,800
REPUBLIC BANCORP INC-MICH 34,162
REPUBLIC BANKING CORP OF F 130,400
REPUBLIC NEW YORK CORP 80,000
REPUBLIC SECURITY FINCL CO 21,810
RESPONSE USA INC 27,700
REUTERS GROUP PLC SPONSORED AD 02 2,773
REYNOLDS RJ TOBACCO HLD IN 40,865
RIBI IMMUNOCHEM RESEARCH I 186,200
RICHOOOD HOLDING INC 146,700
RIVERA HOLDINGS CORP RTS 52,475
RIVIERA HOLDINGS CORP 40,075
ROCHE HOLDING LTD SPONSORED AD 10,000
ROCHE HOLDING LTD SPONSORED AD 01 02 12,100 25,120
ROCK BOTTOM RESTAURANTS IN 130,550
ROCKY MOUNTAIN CHOCOLATE F 45,326
ROHN INC 353,050
ROSLYN BANCORP INC 154,978
ROTONICS MANUFACTURING 200,200
ROYAL DUTCH PETROLEUM CO NY RE 10,000
ROYAL DUTCH PETROLEUM CO NY RE 01 02 6,000 2,000
RYERSON TULL INC NEW 32,209
SAGA SYSTEM INC (ags) 70,000
SAUER INC 17,700
SAUER INC 01 3,000
SBARRO INC 286,400
SBC COMMUNICATIONS INC 10,000
SBC COMMUNICATIONS INC 01 9,148
SCHERING PLOUGH CORP 01 02 16,700 3,500
SCHLUMBERGER LTD 10,000
SCHLUMBERGER LTD 01 02 6,132 850
SCHOOL SPECIALTY INC 14,038
SEAGRAM CO LTD 10,000
SEAGRAM CO LTD 01 02 9,500 6,250
</TABLE>
Page 14
<PAGE>
LOEB ARBITRAGE MANAGEMENT
FORM 13F
JUNE 30, 1999
<TABLE>
<CAPTION>
NAME OF ISSUER TITLE VALUE SHARES/ SH/ PUT/ INVSTMT
OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
SEALED AIR CORP $2 CONV PF COM 81211K209 636 10,172 SOLE
SEALY CORP WTS COM 812139111 18 82,486 SOLE
SEAMED CORP COM 81218Q100 1,422 121,000 SOLE
SEQUENT COMPUTER SYSTEM IN COM 817338106 527 29,800 SOLE
SGV BANCORP INC COM 78422T102 207 10,500 SOLE
SIENA HOLDINGS INC COM 826203101 154 149,704 SOLE
SIERRAWEST BANCORP COM 826527103 572 18,800 SOLE
SILICON VALLEY COM 827066101 309 18,434 SOLE
SILICON VALLEY GROUP INC COM 827066101 827 49,200 SH DEFINED
SIZZLER INTERNATIONAL INC COM 830139101 304 135,275 SOLE
SKANEATELES BANCORP INC COM 830506101 1,083 42,152 SOLE
SKYTEL COMMUNICATION INC COM 83087Q104 2,000 96,400 SOLE
SODAK GAMING INC COM 833777105 891 95,000 SOLE
SOUTHERN PACIFIC PETROLEUM COM 843581307 33 11,000 SH DEFINED
SOUTHWEST GAS CORP COM 844895102 8,152 284,800 SOLE
SOVEREIGN BANCORP INC COM 845905108 201 16,560 SH DEFINED
SPECTRANETICS CORP COM 84760C107 59 20,878 SOLE
SPRINT CORP PCS SER 1 COM 852061506 286 5,000 SH SOLE
ST JOHN KNITS INC COM 790289102 5,879 201,000 SOLE
ST PAUL BANCORP COM 792848103 1,198 46,967 SOLE
STAFF LEASING INC COM 852381102 942 73,500 SOLE
STANFORD TELECOMMUNICATION COM 854402104 1,788 60,600 SOLE
STARWOOD HOTELS & RESORTS WORL COM 85590A203 556 18,200 SH DEFINED
STATE FINANCIAL SERVICES C COM 856855101 780 51,994 SOLE
STATEWIDE FINANCIAL CORP COM 857914105 853 36,500 SOLE
STERIGENICS INTERNATIONAL COM 85915R105 2,980 113,000 SOLE
STIMSONITE CORP COM 860832104 1,145 78,300 SOLE
STRAWBRIDGE & CLOTHIER ESC COM 863200986 2 181,668 SOLE
SUGEN INC COM 865041107 3,087 105,100 SOLE
SUIZA FOODS CORP COM 865077101 419 10,000 SOLE
SUN ENERGY PARTNERS L.P. D COM 866719107 354 61,600 SOLE
SUNSTONE HOTEL INVESTORS I COM 867933103 170 20,000 SOLE
SUNTRUST BANKS INC COM 867914103 347 5,000 SH SOLE
SUNTRUST BANKS INC COM 867914103 3 50 SH DEFINED
SUPERIOR SERVICE INC (supr COM 868316100 3,243 121,800 SOLE
SUPERIOR TR PFD CONV 8.50% COM 86836P202 592 13,757 SOLE
SUPERMARKETS GENERAL $3.52 COM 868446204 1,216 32,858 SOLE
SUPERTEL HOSPITALITY INC COM 868524109 910 74,310 SOLE
SWISS HELVETIA FUND INC COM 870875101 675 48,400 SH DEFINED
SYBASE COM 871130100 138 12,600 SOLE
<CAPTION>
VOTING AUTHORITY
NAME OF ISSUER OTHER --------------------------------
MANAGERS SOLE SHARED NONE
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
SEALED AIR CORP $2 CONV PF 10,172
SEALY CORP WTS 82,486
SEAMED CORP 121,000
SEQUENT COMPUTER SYSTEM IN 29,800
SGV BANCORP INC 10,500
SIENA HOLDINGS INC 149,704
SIERRAWEST BANCORP 18,800
SILICON VALLEY 18,434
SILICON VALLEY GROUP INC 01 1,000 48,200
SIZZLER INTERNATIONAL INC 135,275
SKANEATELES BANCORP INC 42,152
SKYTEL COMMUNICATION INC 96,400
SODAK GAMING INC 95,000
SOUTHERN PACIFIC PETROLEUM 01 11,000
SOUTHWEST GAS CORP 284,800
SOVEREIGN BANCORP INC 01 1,440 15,120
SPECTRANETICS CORP 20,878
SPRINT CORP PCS SER 1 5,000
ST JOHN KNITS INC 201,000
ST PAUL BANCORP 46,967
STAFF LEASING INC 73,500
STANFORD TELECOMMUNICATION 60,600
STARWOOD HOTELS & RESORTS WORL 01 18,200
STATE FINANCIAL SERVICES C 51,994
STATEWIDE FINANCIAL CORP 36,500
STERIGENICS INTERNATIONAL 113,000
STIMSONITE CORP 78,300
STRAWBRIDGE & CLOTHIER ESC 181,668
SUGEN INC 105,100
SUIZA FOODS CORP 10,000
SUN ENERGY PARTNERS L.P. D 61,600
SUNSTONE HOTEL INVESTORS I 20,000
SUNTRUST BANKS INC 5,000
SUNTRUST BANKS INC 01 50
SUPERIOR SERVICE INC (supr 121,800
SUPERIOR TR PFD CONV 8.50% 13,757
SUPERMARKETS GENERAL $3.52 32,858
SUPERTEL HOSPITALITY INC 74,310
SWISS HELVETIA FUND INC 01 02 5,600 42,800
SYBASE 12,600
</TABLE>
Page 15
<PAGE>
LOEB ARBITRAGE MANAGEMENT
FORM 13F
JUNE 30, 1999
<TABLE>
<CAPTION>
NAME OF ISSUER TITLE VALUE SHARES/ SH/ PUT/ INVSTMT
OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
T ROWE PRICE U S TREASURY FUND COM 77957T107 171 33,269 SH DEFINED
TAVA TECHNOLOGIES COM 872169107 953 124,000 SOLE
TCA CABLE TV INC COM 872241104 277 5,000 SH SOLE
TCA CABLE TV INC COM 872241104 5,814 105,000 SOLE
TECHFORCE CORP COM 878331107 1,450 177,100 SOLE
TELEBACKUP SYSTEMS INC COM 878927102 2,135 170,000 SOLE
TELEBANC FINANCIAL CORP COM 87925R109 1,804 46,700 SOLE
TELEPHONE & DATA SYSTEMS INC COM 879433100 950 13,000 SH SOLE
TELEPHONE & DATA SYSTEMS INC COM 879433100 4,566 62,500 SH DEFINED
TELETOUCH COMMUNICATIONS I COM 87951V206 27 19,000 SOLE
TELOS CORP 12% PFD COM 87969B200 44 14,607 SOLE
TERA COMPUTER CO COM 88076P108 160 29,150 SH DEFINED
TEXAS MICRO INC COM 88255T103 452 61,300 SOLE
THEMOTREX CORP COM 883666109 1,114 146,100 SOLE
THERMEDICS DETECTION INC COM 88355T103 379 37,700 SOLE
THERMO ECOTEK CORP COM 88355R106 486 60,800 SOLE
THERMO POWER CORP COM 883589103 867 75,000 SOLE
THERMO SENTRON INC COM 883593105 921 68,200 SOLE
THERMO VISION CORP COM 883600108 132 23,000 SOLE
THERMOSPECTRA CORP COM 883660102 389 24,500 SOLE
THINK NEW IDEAS INC COM 884094103 318 20,300 SOLE
TIME WARNER INC (HOLDING CO) COM 887315109 955 13,000 SH SOLE
TIME WARNER INC (HOLDING CO) COM 887315109 6,108 83,100 SH DEFINED
TLC BEATRICE COM NOT AVAIL 705 15,000 SOLE
TODAYS MAN INC (tman) COM 888910106 78 69,252 SOLE
TODD AO CORP CL A COM 888896107 163 14,800 SH DEFINED
TORCHMARK CORP COM 891027104 297 8,700 SH DEFINED
TOTAL CONTAINMENT INC. COM 89149T101 161 56,110 SOLE
TOWN & COUNTRY CONV 6% PFD COM 892027400 -- 14,093 SOLE
TPI ENTERPRISES COM 872623103 5 534,249 SOLE
TRANSAMERICA COM 893485102 14,858 198,100 SOLE
TRIARC COMPANIES INC CL A COM 895927101 242 11,410 SOLE
TRIKON TECHNOLOGIES INC COM 896187994 81 624,004 SOLE
TRIKON TECHNOLOGIES INC PF COM 896187986 75 37,427 SOLE
TRION INC COM 896726106 510 116,601 SOLE
TRO LEARNING INC COM 87263R109 176 28,700 SOLE
TYCO INTERNATIONAL LTD COM 902124106 947 10,000 SH SOLE
TYCO INTERNATIONAL LTD COM 902124106 3,911 41,280 SH DEFINED
U S HOMECARE CORP COM 911819100 -- 10,000 SH DEFINED
UDC HOMES SER C SUB NTS 0% COM 90264JAA8 -- 89,940 SOLE
<CAPTION>
VOTING AUTHORITY
NAME OF ISSUER OTHER ---------------------------------
MANAGERS SOLE SHARED NONE
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
T ROWE PRICE U S TREASURY FUND 01 33,269
TAVA TECHNOLOGIES 124,000
TCA CABLE TV INC 5,000
TCA CABLE TV INC 105,000
TECHFORCE CORP 177,100
TELEBACKUP SYSTEMS INC 170,000
TELEBANC FINANCIAL CORP 46,700
TELEPHONE & DATA SYSTEMS INC 13,000
TELEPHONE & DATA SYSTEMS INC 01 02 14,500 48,000
TELETOUCH COMMUNICATIONS I 19,000
TELOS CORP 12% PFD 14,607
TERA COMPUTER CO 01 29,150
TEXAS MICRO INC 61,300
THEMOTREX CORP 146,100
THERMEDICS DETECTION INC 37,700
THERMO ECOTEK CORP 60,800
THERMO POWER CORP 75,000
THERMO SENTRON INC 68,200
THERMO VISION CORP 23,000
THERMOSPECTRA CORP 24,500
THINK NEW IDEAS INC 20,300
TIME WARNER INC (HOLDING CO) 13,000
TIME WARNER INC (HOLDING CO) 01 02 39,540 43,560
TLC BEATRICE 15,000
TODAYS MAN INC (tman) 69,252
TODD AO CORP CL A 02 14,800
TORCHMARK CORP 01 02 2,800 5,900
TOTAL CONTAINMENT INC. 56,110
TOWN & COUNTRY CONV 6% PFD 14,093
TPI ENTERPRISES 534,249
TRANSAMERICA 198,100
TRIARC COMPANIES INC CL A 11,410
TRIKON TECHNOLOGIES INC 624,004
TRIKON TECHNOLOGIES INC PF 37,427
TRION INC 116,601
TRO LEARNING INC 28,700
TYCO INTERNATIONAL LTD 10,000
TYCO INTERNATIONAL LTD 01 02 11,100 30,180
U S HOMECARE CORP 01 10,000
UDC HOMES SER C SUB NTS 0% 89,940
</TABLE>
Page 16
<PAGE>
<TABLE>
<CAPTION>
LOEB ARBITRAGE MANAGEMENT
FORM 13F
JUNE 30, 1999
NAME OF ISSUER TITLE VALUE SHARES/ SH/ PUT/ INVSTMT
OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
ULTRADATA CORP COM 90388N102 496 70,800 SOLE
UNILEVER N V NEW YORK SHS NEW COM 904784709 436 6,245 SH DEFINED
UNIMED PHARMACEUTICALS INC COM 904801107 2,521 214,550 SOLE
UNION PACIFIC COM 907818108 292 5,000 SH SOLE
UNION PACIFIC COM 907818108 23 400 SH DEFINED
UNION PACIFIC RESOURCES COM 907834105 163 10,000 SH SOLE
UNION PACIFIC RESOURCES COM 907834105 54 3,338 SH DEFINED
UNIQUE CASUAL RESTAURANT COM 90915K100 683 214,300 SOLE
UNITED STATES CELLULAR COR COM 911684108 861 16,100 SOLE
UNITED STATES LEATHER INC COM 912134103 280 186,536 SOLE
UNITEL VIDEO INC COM 913253100 16 10,400 SOLE
UNITY BANCORP INC-DEL (unt COM 913290102 380 33,438 SOLE
UNOCAL CORP COM 915289102 396 10,000 SH SOLE
UNOCAL CORP COM 915289102 139 3,513 SH DEFINED
UNOVA INC COM 91529B106 159 10,000 SH SOLE
UNUM CORP COM 91529Y106 207 3,780 SH DEFINED
UROQUEST MEDICAL CORP COM 917285108 54 30,200 SOLE
US DIAGNOSTIC INC COM 90328Q108 41 32,000 SOLE
US PHYSICAL THERAPY INC COM 90337L108 88 10,782 SOLE
US SATELLITE BROADCASTING COM 912534104 5,294 294,130 SOLE
US WEST INC NEW (usw) COM 91273H101 8,090 137,700 SOLE
USB HOLDING CO INC COM 902910108 650 42,430 SOLE
UST CORP COM 902900109 3,079 101,990 SOLE
VALLEY NATIONAL CORP COM 91979P100 630 32,300 SOLE
VARIAN INC COM 922206107 574 42,500 SH DEFINED
VARIAN MEDICAL SYSTEMS INC COM 92220P105 654 25,900 SH DEFINED
VARLAN CORP COM 922248109 3,848 95,900 SOLE
VASTAR RESOURCES INC COM 922380100 315 6,000 SH SOLE
VENTAS INC COM 92276F100 81 15,100 SOLE
VIACOM HOLDING CL B COM 925524308 440 10,000 SH SOLE
VIACOM HOLDING CL B COM 925524308 436 9,906 SH DEFINED
VIACOM INC COM 925524100 400 9,056 SH DEFINED
VIDEO UPDATE INC-CL A COM 92657V104 85 108,618 SOLE
VISIBLE GENETICS INC COM 92829S104 251 15,800 SOLE
VISKASE COMPANIES INC COM 92831R102 337 85,700 SOLE
VODAFONE AIRTOUCH PLC SPONSORE COM 92857T107 985 5,000 SH SOLE
VODAFONE AIRTOUCH PLC SPONSORE COM 92857T107 236 1,200 SH DEFINED
VODAFONE GROUP PLC COM 92857T107 502 2,549 SOLE
VWR SCIENTIFIC PRODUCTS CO COM 918435108 4,175 114,000 SOLE
WALBRO CAPITAL TRUST 8% CO COM 931152995 1,110 41,900 SOLE
<CAPTION>
VOTING AUTHORITY
NAME OF ISSUER OTHER --------------------------------
MANAGERS SOLE SHARED NONE
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
ULTRADATA CORP 70,800
UNILEVER N V NEW YORK SHS NEW 02 01 4,461 1,784
UNIMED PHARMACEUTICALS INC 214,550
UNION PACIFIC 5,000
UNION PACIFIC 01 400
UNION PACIFIC RESOURCES 10,000
UNION PACIFIC RESOURCES 01 3,338
UNIQUE CASUAL RESTAURANT 214,300
UNITED STATES CELLULAR COR 16,100
UNITED STATES LEATHER INC 186,536
UNITEL VIDEO INC 10,400
UNITY BANCORP INC-DEL (unt 33,438
UNOCAL CORP 10,000
UNOCAL CORP 01 3,513
UNOVA INC 10,000
UNUM CORP 01 02 1,800 1,980
UROQUEST MEDICAL CORP 30,200
US DIAGNOSTIC INC 32,000
US PHYSICAL THERAPY INC 10,782
US SATELLITE BROADCASTING 294,130
US WEST INC NEW (usw) 137,700
USB HOLDING CO INC 42,430
UST CORP 101,990
VALLEY NATIONAL CORP 32,300
VARIAN INC 01 42,500
VARIAN MEDICAL SYSTEMS INC 01 25,900
VARLAN CORP 95,900
VASTAR RESOURCES INC 6,000
VENTAS INC 15,100
VIACOM HOLDING CL B 10,000
VIACOM HOLDING CL B 01 02 566 9,340
VIACOM INC 01 9,056
VIDEO UPDATE INC-CL A 108,618
VISIBLE GENETICS INC 15,800
VISKASE COMPANIES INC 85,700
VODAFONE AIRTOUCH PLC SPONSORE 5,000
VODAFONE AIRTOUCH PLC SPONSORE 01 1,200
VODAFONE GROUP PLC 2,549
VWR SCIENTIFIC PRODUCTS CO 114,000
WALBRO CAPITAL TRUST 8% CO 41,900
</TABLE>
Page 17
<PAGE>
LOEB ARBITRAGE MANAGEMENT
FORM 13F
JUNE 30, 1999
<TABLE>
<CAPTION>
NAME OF ISSUER TITLE VALUE SHARES/ SH/ PUT/ INVSTMT
OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
WAL-MART STORES INC COM 931142103 405 8,400 SH DEFINED
WALT DISNEY CO HOLDING CO COM 254687106 1,388 45,045 SH DEFINED
WARNER-LAMBERT CO COM 934488107 555 8,000 SH SOLE
WASHINGTON MUTUAL INC COM 939322103 320 9,040 SH DEFINED
WASHINGTON POST CO-CL B COM 939640108 269 500 SH SOLE
WATKINS JOHNSON CO COM 942486101 251 8,500 SH DEFINED
WATKINS JOHNSON CO COM 942486101 1,221 41,400 SOLE
WEATHERFORD INTERNATIONAL COM 947074100 636 17,363 SOLE
WEATHERFORD INTERNATIONAL INC COM 947074100 183 5,000 SH SOLE
WEATHERFORD INTERNATIONAL INC COM 947074100 2,062 56,294 SH DEFINED
WEEKS CORP COM 94856P102 1,104 36,200 SOLE
WELLS FARGO & CO-NEW COM 949746101 427 10,000 SH SOLE
WELLS FARGO & CO-NEW COM 949746101 663 15,500 SH DEFINED
WESBANCO INC COM 950810101 382 12,750 SOLE
WESTERN BANCORP COM 957683105 2,007 46,200 SOLE
WESTERN RESOURCES INC COM 959425109 226 8,500 SH DEFINED
WEYCO GROUP INC. COM 962149100 709 30,825 SOLE
WHITTAKER CORP NEW COM 966680407 4,806 171,625 SOLE
WILLIAMS COMPANIES INC COM 969457100 213 5,000 SH SOLE
WILLIAMS COMPANIES INC COM 969457100 1,226 28,800 SH DEFINED
WINSLOEW FURNITURE INC COM 975377102 1,554 46,400 SOLE
WINSTON RESOURCES INC COM 975661109 219 50,000 SOLE
WITCO CORP COM 977385103 200 10,000 SOLE
WITZTEC SOLUTIONS LTD ORD COM M98105105 240 10,125 SOLE
WM WRIGLEY JR CO COM 982526105 810 9,000 SH DEFINED
WOOD BANCORP COM 978237105 212 11,000 SOLE
WORKFLOW MANAGEMENT INC COM 98137N109 326 22,846 SOLE
WRT CREDITORS LIQUIDATING COM 92931K965 -- 126,667 SOLE
WRT ENERGY CORP WTS COM 92931K130 -- 12,000 SOLE
WTS IGENE BIOTECHNOLOGY INC COM 451695142 -- 131,414 SH DEFINED
WYMAN GORDON CO COM 983085101 773 40,000 SOLE
XEROX CORP COM 984121103 473 8,000 SH DEFINED
XL CAPITAL LTD CL A (xl) COM G98255105 752 13,306 SOLE
XTRA CORP COM 984138107 1,599 34,800 SOLE
YANKEE ENERGY SYSTEM COM 984779108 794 20,000 SOLE
ZURICH SF HLDGS INC EARN O COM 98982YAB7 1,262 11,473 SOLE
AAMES FINCL CORP SUB DEB 5 FIXED 00253AAE1 1,805 47,500 SOLE
AMERITRUCK DIST CORP 12.25 FIXED 03071XAC9 158 31,500 SOLE
AUSTRALIAS HLDG PTY SR NT FIXED 05258AAC9 30 30,000 SOLE
BANK OF NEW ENGLAND NOTE 9 FIXED 063840AC6 399 29,550 SOLE
<CAPTION>
VOTING AUTHORITY
NAME OF ISSUER OTHER --------------------------------
MANAGERS SOLE SHARED NONE
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
WAL-MART STORES INC 01 8,400
WALT DISNEY CO HOLDING CO 01 02 6,000 39,045
WARNER-LAMBERT CO 8,000
WASHINGTON MUTUAL INC 01 02 3,360 5,680
WASHINGTON POST CO-CL B 500
WATKINS JOHNSON CO 01 8,500
WATKINS JOHNSON CO 41,400
WEATHERFORD INTERNATIONAL 17,363
WEATHERFORD INTERNATIONAL INC 5,000
WEATHERFORD INTERNATIONAL INC 01 02 19,472 36,822
WEEKS CORP 36,200
WELLS FARGO & CO-NEW 10,000
WELLS FARGO & CO-NEW 01 15,500
WESBANCO INC 12,750
WESTERN BANCORP 46,200
WESTERN RESOURCES INC 01 8,500
WEYCO GROUP INC. 30,825
WHITTAKER CORP NEW 171,625
WILLIAMS COMPANIES INC 5,000
WILLIAMS COMPANIES INC 01 02 5,400 23,400
WINSLOEW FURNITURE INC 46,400
WINSTON RESOURCES INC 50,000
WITCO CORP 10,000
WITZTEC SOLUTIONS LTD ORD 10,125
WM WRIGLEY JR CO 02 9,000
WOOD BANCORP 11,000
WORKFLOW MANAGEMENT INC 22,846
WRT CREDITORS LIQUIDATING 126,667
WRT ENERGY CORP WTS 12,000
WTS IGENE BIOTECHNOLOGY INC 01 131,414
WYMAN GORDON CO 40,000
XEROX CORP 01 8,000
XL CAPITAL LTD CL A (xl) 13,306
XTRA CORP 34,800
YANKEE ENERGY SYSTEM 20,000
ZURICH SF HLDGS INC EARN O 11,473
AAMES FINCL CORP SUB DEB 5 47,500
AMERITRUCK DIST CORP 12.25 31,500
AUSTRALIAS HLDG PTY SR NT 30,000
BANK OF NEW ENGLAND NOTE 9 29,550
</TABLE>
Page 18
<PAGE>
LOEB ARBITRAGE MANAGEMENT
FORM 13F
JUNE 30, 1999
<TABLE>
<CAPTION>
NAME OF ISSUER TITLE VALUE SHARES/ SH/ PUT/ INVSTMT
OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
BARINGS BV - FRN 1/22/01 FIXED LU0001749 2,205 35,000 SOLE
BUILDERS TRANSPORT 6.5% 5/ FIXED 120084AB4 18 18,220 SOLE
BUILDERS TRANSPORT 8% 8/15 FIXED 120084AA6 23 22,630 SOLE
CITYSCAPE FINCL SR NT SER FIXED 178778AF3 190 19,000 SOLE
CLARIDGE HOT & CASINO 11.7 FIXED 180476AA1 1,286 21,620 SOLE
COLOR TILE INC SR NT 10.75 FIXED 196267AD0 138 221,350 SOLE
COLOR TILE TERM NOTES FIXED NOT AVAIL 317 3,169 SOLE
DECISIONONE CORP SR.NT 8/1 FIXED 243456AA8 175 29,150 SOLE
DISCOVERY ZONE INC 13.5% 8 FIXED 25468BAF4 583 83,300 SOLE
DISCOVERY ZONE INC SR SECD FIXED 25468BAF4 1,154 164,850 SOLE
FPA MEDICAL MGMT 6.5% 12/1 FIXED 302543AD5 273 273,100 SOLE
GB PROPERTY FUNDING CORP 1 FIXED 36149QAA6 941 13,640 SOLE
GENEVA STEEL SR NOTE 1/15/ FIXED 372252AC0 440 20,000 SOLE
GENEVA STEEL SR NOTE 3/15/ FIXED 372252AA4 935 42,500 SOLE
IN-FLIGHT PHONE CORP 14% 5 FIXED 45322KAC5 200 20,000 SOLE
INTL SEMI TECH MICRO SR 0% FIXED 46031KAA9 1,205 70,870 SOLE
IONICA PLC SR DISC NTS 5/1 FIXED 462213AK5 35 11,500 SOLE
JAZZ CASINO CO SR NT 8% 11 FIXED 472143AA4 574 8,894 SOLE
JAZZ CASINO SR CONTING NT FIXED 472143AB2 287 13,039 SOLE
LEVITZ FURN CORP SR NT 13. FIXED 527480AJ6 423 5,420 SOLE
LOMAS FINCL CORP NEW 9% 10 FIXED 5415359A0 124 27,500 SOLE
LOUISIANA ST AG FIN AUTH 8 FIXED 546418AB0 -- 15,000 SOLE
MOBIL ENERGY SVC CO 8.665% FIXED 607358AA6 420 15,000 SOLE
PLASMA & MATLS TECH 7.125% FIXED 72753MAA7 300 6,000 SOLE
SELLCO CORP 12% 12/15/04 ( FIXED 81641KAA8 105 83,741 SOLE
SMARTALK CONV SUB NT 9/15/ FIXED 83169AAC4 350 10,000 SOLE
SOUTHEAST BK CORP 10.5% 4/ FIXED 841338AD8 535 20,000 SOLE
SPECIALTY FOODS ACQ CP 13% FIXED 847498AC6 180 15,000 SOLE
SUNBEAM CORP CV 0% 3/25/18 FIXED 867071AA0 1,242 72,500 SOLE
TRANS WORLD AIRLINE 8% 11/ FIXED 893349AV2 -- 10,000 SOLE
TRUMPS CASTLE 11.75% 11/15 FIXED 898178AE8 404 4,484 SOLE
TV FILME SR NT 12.875 DUE FIXED 873071AC8 650 20,000 SOLE
USN COMM SR NTS SER B 8/15 FIXED 90336NAC9 2,925 312,040 SOLE
WRT ENERGY CORP 13.875% 3/ FIXED 92931KAB2 -- 15,000 SOLE
AT&T JAN 50 PUT PUT 0019579M3 41 15,000 SOLE
DELL COMPUTER AUG 40 PUT PUT 2470259T8 45 10,000 SOLE
GLOBAL CROSS JULY 035 PUT PUT G3921A9S1 30 118,000 SOLE
GLOBAL CROSSING OCT 35 PUT PUT G3921A9V4 140 40,000 SOLE
RUSSELL 2000 INDEX JUL 400 PUT 12484L9S4 2 25,000 SOLE
RUSSELL 2000 INDEX JUL 440 PUT 1248359S0 32 14,500 SOLE
<CAPTION>
VOTING AUTHORITY
NAME OF ISSUER OTHER ------------------------------
MANAGERS SOLE SHARED NONE
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
BARINGS BV - FRN 1/22/01 35,000
BUILDERS TRANSPORT 6.5% 5/ 18,220
BUILDERS TRANSPORT 8% 8/15 22,630
CITYSCAPE FINCL SR NT SER 19,000
CLARIDGE HOT & CASINO 11.7 21,620
COLOR TILE INC SR NT 10.75 221,350
COLOR TILE TERM NOTES 3,169
DECISIONONE CORP SR.NT 8/1 29,150
DISCOVERY ZONE INC 13.5% 8 83,300
DISCOVERY ZONE INC SR SECD 164,850
FPA MEDICAL MGMT 6.5% 12/1 273,100
GB PROPERTY FUNDING CORP 1 13,640
GENEVA STEEL SR NOTE 1/15/ 20,000
GENEVA STEEL SR NOTE 3/15/ 42,500
IN-FLIGHT PHONE CORP 14% 5 20,000
INTL SEMI TECH MICRO SR 0% 70,870
IONICA PLC SR DISC NTS 5/1 11,500
JAZZ CASINO CO SR NT 8% 11 8,894
JAZZ CASINO SR CONTING NT 13,039
LEVITZ FURN CORP SR NT 13. 5,420
LOMAS FINCL CORP NEW 9% 10 27,500
LOUISIANA ST AG FIN AUTH 8 15,000
MOBIL ENERGY SVC CO 8.665% 15,000
PLASMA & MATLS TECH 7.125% 6,000
SELLCO CORP 12% 12/15/04 ( 83,741
SMARTALK CONV SUB NT 9/15/ 10,000
SOUTHEAST BK CORP 10.5% 4/ 20,000
SPECIALTY FOODS ACQ CP 13% 15,000
SUNBEAM CORP CV 0% 3/25/18 72,500
TRANS WORLD AIRLINE 8% 11/ 10,000
TRUMPS CASTLE 11.75% 11/15 4,484
TV FILME SR NT 12.875 DUE 20,000
USN COMM SR NTS SER B 8/15 312,040
WRT ENERGY CORP 13.875% 3/ 15,000
AT&T JAN 50 PUT 15,000
DELL COMPUTER AUG 40 PUT 10,000
GLOBAL CROSS JULY 035 PUT 118,000
GLOBAL CROSSING OCT 35 PUT 40,000
RUSSELL 2000 INDEX JUL 400 25,000
RUSSELL 2000 INDEX JUL 440 14,500
</TABLE>
Page 19
<PAGE>
LOEB ARBITRAGE MANAGEMENT
FORM 13F
JUNE 30, 1999
<TABLE>
<CAPTION>
NAME OF ISSUER TITLE VALUE SHARES/ SH/ PUT/ INVSTMT
OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
SKYTEL COMMUNICATION JAN 2 PUT NOT AVAIL 17 10,000 SOLE
<CAPTION>
VOTING AUTHORITY
NAME OF ISSUER OTHER --------------------------------
MANAGERS SOLE SHARED NONE
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
SKYTEL COMMUNICATION JAN 2 10,000
<CAPTION>
<S> <C> <C> <C>
REPORT SUMMARY 761 DATA RECORDS 890,613 2 OTHER MANAGERS ON WHOSE BEHALF REPORTS IS BEING FILED
</TABLE>
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