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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
INFORMATION REQUIRED OF INSTITUTIONAL INVESTMENT MANAGERS PURSUANT
TO SECTION 13(f) OF THE SECURITIES EXCHANGE ACT OF 1934 AND RULES THEREUNDER
Report for the Calendar Year or Quarter Ended JUNE 30, 1998
- --------------------------------------------------------------------------------
(Please read instructions before preparing form.)
- --------------------------------------------------------------------------------
If amended report check here: |_|
LOEB ARBITRAGE MANAGEMENT INC.
- --------------------------------------------------------------------------------
Name of Institutional Investment Manager
61 BROADWAY NEW YORK N.Y. 10006
- --------------------------------------------------------------------------------
Business Address (Street) (City) (State) (Zip)
EDWARD CAMPBELL 212-483-7078 VICE PRESIDENT
- --------------------------------------------------------------------------------
Name, Phone No., and Title of Person Duly Authorized to Submit This Report.
- ------------------------------------ATTENTION-----------------------------------
Intentional misstatements or omissions of facts constitute
Federal Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
- --------------------------------------------------------------------------------
The institutional investment manager submitting this Form and its
attachments and the person by whom it is signed represent hereby that all
information contained therein is true, correct and complete. It is understood
that all required items, statements and schedules are considered integral parts
of this Form and that the submission of any amendment represents that all
unamended items, statements and schedules remain true, correct and complete as
previously submitted.
Pursuant to the requirements of Securities Exchange Act of 1934, the
undersigned institutional investment manager has caused this report to be signed
on its behalf in the City of NEW YORK and State of NEW YORK on the 5 day of
AUGUST, 1998.
LOEB ARBITRAGE MANAGEMENT
------------------------------------------
(Name of Institutional Investment Manager)
/s/ EDWARD CAMPBELL
------------------------------------------
(Manual Signature of Person Duly
Authorized to Submit This Report)
Name and 13F file numbers of ALL Institutional Investment Managers with respect
to which this schedule is filled (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.
Name: 13F File No.:
- --------------------------------------------- ------------------------------
1. LOEB PARTNERS CORPORATION
- --------------------------------------------- ------------------------------
2. LOEB PARTNERS MANAGEMENT INC.
- --------------------------------------------- ------------------------------
3.
- --------------------------------------------- ------------------------------
4.
- --------------------------------------------- ------------------------------
5.
- --------------------------------------------- ------------------------------
CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY
SEC 1685 (5/91)
<PAGE>
LOEB ARBITRAGE MANAGEMENT
FORM 13F
JUNE 30, 1998
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
FAIR INVESTMENT DISCRETION VOTING AUTHORITY
TITLE MARKET SHARES OR SHARED
NAME OF ISSUER OF CUSIP VALUE PRINCIPAL SOLE SHARED OTHER MANA- SOLE SHARED NONE
CLASS NUMBER (x$1000) AMOUNT (A) (B) (C) GERS (A) (B) (C)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
BERGEN BRUNSWICK AUG 50 CA CALL 0837399H7 440,000.00 110,000 x 110,000
DEKALB GENET JULY 075 CALL CALL 2448789G1 196,250.00 10,000 x 10,000
DEKALB GENET JULY 080 CALL CALL 2448789G1 146,250.00 10,000 x 10,000
EMC CORP JULY 045 CALL CALL 2686489G9 13,750.00 10,000 x 10,000
TRITON ENERGY AUG 45 CALL CALL G907519H6 20,000.00 20,000 x 20,000
WASTE MANAGEMENT JAN 25 CA CALL 94106J9A4 525,000.00 50,000 x 50,000
WASTE MANAGEMENT JAN 30 CA CALL 94106JA40 350,625.00 55,000 x 55,000
BCE INC COM 05534B109 247,587.50 5,800 2 1 1,200 4,600
BCE INC COM 05534B109 401,262.50 9,400 2 2 9,400
BF REALTY HOLDINGS LTD COM 05540l109 -- 32,000 2 1 32,000
COLUMBIAN NORTHLAND EXPL COM 198675100 -- 27,300 x 27,300
COMCAST UK CABLE PARTNERS COM G22984101 164,713.50 10,500 2 1 1,000 9,500
ESG RE LTD COM G31215109 216,250.00 10,000 x 10,000
NESTLE SA-SPONSORED ADR COM 641069406 10,700.10 100 2 1 100
NESTLE SA-SPONSORED ADR COM 641069406 1,037,909.70 9,700 2 2 9,700
RHONE POULENC SA-SPONSORED COM 762426609 56,187.00 1,000 2 1 1,000
RHONE POULENC SA-SPONSORED COM 762426609 168,561.00 3,000 2 2 3,000
ROYAL DUTCH PETROLEUM CO COM 780257804 219,248.00 4,000 2 1 2,000 2,000
ROYAL DUTCH PETROLEUM CO COM 780257804 219,248.00 4,000 2 2 4,000
SCHLUMBERGER LTD COM 806857108 47,818.40 700 2 1 700
SCHLUMBERGER LTD COM 806857108 418,889.18 6,132 2 2 6,132
SCHLUMBERGER LTD COM 806857108 341,560.00 5,000 x 5,000
SEAGRAM CO LTD COM 811850106 472,822.35 11,550 2 1 500 11,050
SEAGRAM CO LTD COM 811850106 368,433.00 9,000 2 2 9,000
SEAGRAM CO LTD COM 811850106 327,496.00 8,000 x 8,000
SOUTHERN PACIFIC PETROLEUM COM 843581307 42,992.00 16,000 2 1 16,000
WALHALLA MINING CO NL-ORD COM Q95233146 312.00 12,000 2 1 12,000
360 COMMUNICATIONS COM 885571109 3,406,590.00 99,000 x 99,000
A P GREEN INDUSTRIES INC COM 393059100 1,942,600.00 88,300 x 88,300
AAMES FINANCIAL CORP COM 00253A101 573,719.00 41,725 x 41,725
ABERCROMBIE & FITCH CO CL A COM 002896207 3,080.00 70 2 1 70
ABERCROMBIE & FITCH CO CL A COM 002896207 220,000.00 5,000 x 5,000
ACCELGRAPHICS INC COM 00430P104 866,375.00 149,375 x 149,375
ACNIELSEN CORP COM 004833109 252,500.00 10,000 2 1 10,000
ACNIELSEN CORP COM 004833109 122,942.25 4,869 2 2 4,869
ADVANTA CORP CL B NON VTG COM 007942204 431,665.00 21,719 x 21,719
AEROSPACE CREDITORS LIQD T COM 008017105 -- 80,000 x 80,000
AFFILIATED COMMUNITY BANCO COM 008188104 2,666,188.00 73,550 x 73,550
AFLAC INC COM 001055102 606,058.13 19,994 2 1 19,994
AIRPORT SYSTEMS INTL INC COM 00949N103 219,431.00 42,300 x 42,300
AIRTOUCH COMMUNICATIONS INC COM 00949T100 140,248.80 2,400 2 1 2,400
AIRTOUCH COMMUNICATIONS INC COM 00949T100 292,185.00 5,000 x 5,000
AIRTRAN HOLDINGS INC (aair COM 00949P108 143,644.00 19,073 x 19,073
ALBANK FINANCIAL CORP COM 012046108 2,575,531.00 36,500 x 36,500
ALCIDE CORP NEW COM 013742507 1,151,413.50 27,172 2 1 27,172
ALCIDE CORP NEW COM 013742507 12,543.00 296 2 2 296
ALLIED DIGITAL TECHNOLOGIE COM 01912P109 116,550.00 25,200 x 25,200
ALLIED GROUP INC COM 019220102 5,945,188.00 127,000 x 127,000
ALLIED LIFE FINANCIAL CP COM 019246107 2,177,900.00 75,100 x 75,100
ALLIED SIGNAL INC COM 019512102 909,687.50 20,500 2 1 1,200 19,300
ALLIED SIGNAL INC COM 019512102 133,125.00 3,000 2 2 3,000
ALLIED SIGNAL INC COM 019512102 221,875.00 5,000 x 5,000
ALLMERICA FINANCIAL CORP COM 019754100 260,000.00 4,000 2 1 4,000
ALLSTATE CORP COM 020002101 1,162,837.40 12,700 2 1 650 12,050
ALUMAX INC (amx) COM 022197107 2,460,472.00 53,056 x 53,056
AMBAC FINANCIAL GROUP INC (FO COM 023139108 292,500.00 5,000 x 5,000
AMBASSADOR BK-COMMONWEALTH COM 02316N104 2,501,516.00 74,119 x 74,119
AMC ENTERTAINMENT INC COM 001669100 541,875.00 30,000 x 30,000
AMERICA FIRST MORTGAGE INV COM 023934102 100,913.00 13,021 x 13,021
AMERICA SERVICE GROUP INC COM 02364L109 1,254,400.00 102,400 x 102,400
AMERICAN BANK OF CONNECTIC COM 024327108 430,550.00 15,800 x 15,800
AMERICAN BANKERS INSURANCE COM 024456105 6,523,563.00 108,500 x 108,500
AMERICAN COMMUNICATIONS & COM 025201104 -- 20,000 2 1 20,000
AMERICAN EXPRESS CO COM 025816109 45,600.00 400 2 1 400
AMERICAN EXPRESS CO COM 025816109 570,000.00 5,000 x 5,000
AMERICAN GENERAL CORP COM 026351106 989,570.49 13,901 2 1 1,260 12,641
AMERICAN GENERAL CORP COM 026351106 254,564.71 3,576 2 2 3,576
AMERICAN INTERNATIONAL GROUP COM 026874107 3,308,652.00 22,662 2 1 22,662
AMERICAN MEDICAL ELECTRONI COM 027425776 7,806.00 124,900 x 124,900
AMERICAN MEDICAL ELECTRONI COM 027425990 7,806.00 124,900 x 124,900
AMERICAN SAFETY RAZOR CO COM 029362100 1,007,663.00 68,900 x 68,900
AMERICAN SHARED HOSP SVCS COM 029595105 55,875.00 44,700 x 44,700
AMERICAN STORES CO NEW COM 030096101 244,294.00 10,100 x 10,100
AMERICAN TOWER SYSTEMS COR COM 029912201 750,619.00 30,100 x 30,100
AMERICANA HOTELS (ahtc) COM 030562102 -- 284,748 x 284,748
AMERIHOST PROPERTIES INC N COM 03070D209 437,088.00 95,800 x 95,800
AMERISOURCE HEALTH CORP-CL COM 03071P102 656,875.00 10,000 x 10,000
AMERITECH CORP NEW COM 030954101 172,320.00 3,840 2 1 3,840
AMERITECH CORP NEW COM 030954101 179,500.00 4,000 2 2 4,000
AMETEK INC NEW COM 031100100 56,660.10 1,933 2 2 1,933
AMETEK INC NEW COM 031100100 293,120.00 10,000 x 10,000
AMGEN INC W/RTS TO PUR COM ST COM 031162100 26,150.00 400 2 1 200 200
AMGEN INC W/RTS TO PUR COM ST COM 031162100 179,127.50 2,740 2 2 2,740
AMOCO CORP COM 031905102 144,855.00 3,480 2 1 1,000 2,480
AMOCO CORP COM 031905102 1,132,200.00 27,200 2 2 27,200
ANADARKO PETROLEUM CORP COM 032511107 335,935.00 5,000 x 5,000
ANGELES MORTGAGE INVESTMEN COM 034638106 757,375.00 41,500 x 41,500
APPLIED GRAPHICS TECHNOLOGIES COM 037937109 297,375.00 6,500 2 1 6,500
APRIA HEALTHCARE GROUP INC COM 037933108 2,275,088.00 340,200 x 340,200
AQUILA GAS PIPELINE CORP COM 03839B106 2,402,225.00 196,100 x 196,100
ARCH PETROLEUM INC NEW COM 03939B105 115,938.00 53,000 x 53,000
ARCO CHEMICAL CO COM 001920107 2,295,000.00 40,000 x 40,000
ARGONAUT GROUP INC COM 040157109 474,375.00 15,000 x 15,000
ARLEN CORP COM 041327107 -- 10,500 2 1 10,500
ARTESYN TECHNOLOGIES INC COM 043127109 162,401.00 10,230 x 10,230
ARVIN INDUSTRIES INC COM 043339100 399,438.00 11,000 x 11,000
ASTEC INDUSTRIES INC COM 046224101 1,173,000.00 34,000 2 1 800 33,200
ASTEC INDUSTRIES INC COM 046224101 69,000.00 2,000 2 2 2,000
ASTEC INDUSTRIES INC COM 046224101 793,500.00 23,000 x 23,000
ASTROSYSTEMS INC NY COM 046465100 189,912.00 82,213 x 82,213
AT&T CORP COM 001957109 267,173.62 4,677 2 1 4,677
AT&T CORP COM 001957109 91,400.00 1,600 2 2 1,600
AT&T CORP COM 001957109 457,000.00 8,000 x 8,000
ATEC GROUP INC NEW COM 00206X604 86,288.00 11,700 x 11,700
ATL PRODUCTS INC-CL A COM 00207M102 2,074,575.00 79,600 x 79,600
ATLAS STEELS INC UTS 100 B COM 2,226,456.00 20,808 x 20,808
ATRIA COMMUNITIES INC COM 049905102 3,855,053.00 224,294 x 224,294
AUDIO COMMUNICATIONS NETWO COM 05069E106 274,363.00 46,700 x 46,700
AURORA BIOSCIENCES CORP COM 051920106 230,300.00 39,200 2 1 39,200
AVALON BAY COMMUNITIES INC COM 053373106 579,500.00 15,250 2 1 800 14,450
AVANT COM 053487104 410,627.00 16,633 x 16,633
AVATAR HOLDINGS INC COM 053494100 254,861.12 9,143 2 2 9,143
AVCOM INTERNATIONAL ESCROW COM 053543997 2,006.00 32,100 x 32,100
AVENOR INC COM 05356K104 2,816,825.00 120,100 x 120,100
AWARD SOFTWARE INTL INC COM 054531108 1,339,144.00 125,300 x 125,300
AXYS PHARMACEUTICALS INC COM 054635107 569,506.00 81,358 x 81,358
AZTEC TECHNOLOGY PARTNERS COM 05480L101 259,174.00 34,271 x 34,271
BAKER HUGHES INC COM 057224107 207,372.00 6,000 2 1 6,000
BAKER HUGHES INC COM 057224107 103,686.00 3,000 2 2 3,000
BANC ONE CORP COM 059438101 430,812.83 7,719 2 1 7,719
BANK OF LOS ANGELES-CALIF COM 063304109 1,593,000.00 94,400 x 94,400
BANK OF NEW YORK CO INC COM 064057102 2,509,407.45 41,350 2 1 8,000 33,350
BANK OF NEW YORK CO INC COM 064057102 5,331,838.45 87,858 2 2 87,858
BANK OF SOUTH WINDSOR CONN COM 065098105 1,201,438.00 40,900 x 40,900
BANKAMERICA CORP COM 066050105 2,160,938.00 25,000 x 25,000
BARNES & NOBLE INC COM 067774109 112,311.00 3,000 2 1 3,000
BARNES & NOBLE INC COM 067774109 187,185.00 5,000 x 5,000
BATTLE MTN GOLD COM 071593107 846,082.00 142,498 x 142,498
BAXTER INTERNATIONAL INC COM 071813109 365,921.60 6,800 2 1 200 6,600
BAXTER INTERNATIONAL INC COM 071813109 107,624.00 2,000 2 2 2,000
BAXTER INTL INC CONT PYMT COM 071813125 36,186.00 180,931 x 180,931
BAY NETWORKS INC (bay) COM 072510100 4,998,750.00 155,000 x 155,000
BAY STATE GAS CO COM 072612609 3,907,875.00 102,000 x 102,000
BECTON DICKINSON & CO COM 075887109 46,575.00 600 2 1 600
BECTON DICKINSON & CO COM 075887109 496,800.00 6,400 2 2 6,400
BEDFORD PROPERTY INVESTORS COM 076446301 545,675.00 29,900 x 29,900
BELL ATLANTIC CORP COM 077853109 206,407.50 4,524 2 1 4,524
BELL ATLANTIC CORP COM 077853109 456,250.00 10,000 x 10,000
BELL SPORT CORP COM 077903102 1,118,720.00 117,760 x 117,760
BENCHMARQ MICROELECTRONICS COM 081603102 1,509,123.00 137,193 x 137,193
BENEFICIAL CORP COM 081721102 15,725,843.00 103,100 x 103,100
BENSONS CRISPS ORD 10p COM N/A 8,343.00 12,500 x 12,500
BERKSHIRE REALTY CO INC COM 084710102 407,894.00 34,900 x 34,900
BERTUCCIS INC COM 086063104 1,931,100.00 188,400 x 188,400
BESTFOODS COM 08658U101 162,573.60 2,800 2 1 2,800
BESTFOODS COM 08658U101 418,046.40 7,200 2 2 7,200
BET HOLDINGS INC-CL A COM 086585106 629,375.00 10,000 x 10,000
BEVERLY BANCORPORATION INC COM 087830105 911,307.00 38,779 x 38,779
BIBB CO (bib) COM 088667100 1,166,332.00 75,859 x 75,859
BJS WHOLESALE CLUB INC COM 05548J106 333,125.00 8,200 2 1 8,200
BJS WHOLESALE CLUB INC COM 05548J106 162,500.00 4,000 2 2 4,000
BJS WHOLESALE CLUB INC COM 05548J106 203,125.00 5,000 x 5,000
BOISE CASCADE CP-W/RTS TO PUR COM 097383103 291,475.00 8,900 2 1 800 8,100
BOYKIN LODGING CO COM 103430104 356,890.00 16,456 x 16,456
BRANDYWINE REALTY TRUST-SBI N COM 105368203 648,875.00 29,000 2 1 1,300 27,700
BRANDYWINE REALTY TRUST-SBI N COM 105368203 223,750.00 10,000 x 10,000
BRIGHT HORIZONS INC COM 109190108 1,834,000.00 65,500 x 65,500
BRISTOL MYERS SQUIBB CO COM 110122108 2,384,942.75 20,750 2 1 800 19,950
BRISTOL MYERS SQUIBB CO COM 110122108 666,634.60 5,800 2 2 5,800
BRISTOL MYERS SQUIBB CO COM 110122108 919,496.00 8,000 x 8,000
BROAD NATIONAL BANCORPORAT COM 111239109 224,022.00 9,238 x 9,238
BRODERBUND SOFTWARE INC COM 112014105 3,387,475.00 148,900 x 148,900
BRT REALTY TRUST SBI-NEW COM 055645303 293,435.10 42,300 2 1 42,300
BRT REALTY TRUST SBI-NEW COM 055645303 27,748.00 4,000 2 2 4,000
BRT REALTY TRUST SBI-NEW COM 055645303 145,677.00 21,000 x 21,000
BURLINGTON RESOURCES INC COM 122014103 233,137.67 5,414 2 1 5,414
BURLINGTON RESOURCES INC COM 122014103 197,482.33 4,586 2 2 4,586
BURLINGTON RESOURCES INC COM 122014103 215,310.00 5,000 x 5,000
CABLE MICHIGAN INC (cabl) COM 12685T103 964,994.00 24,823 x 24,823
CADILLAC FAIRVIEW CORP-- O COM 126929207 401,419.00 17,453 x 17,453
CADILLAC FAIRVIEW CORP WTS COM 126929116 158,769.00 17,641 x 17,641
CALGON CARBON CORP COM 129603106 1,883,156.00 189,500 x 189,500
CALIFORNIA COASTAL COMMUNI COM 500434303 198,796.00 23,561 x 23,561
CAMCO FINANCIAL CORP COM 132618109 841,436.00 30,322 x 30,322
CAMCO INTERNATIONAL INC COM 132632100 10,513,125.00 135,000 x 135,000
CANADIAN NATIONAL RAILWAY COM 136375102 485,297.00 9,135 x 9,135
CAPITAL SAVINGS BANCORP IN COM 140459108 893,450.00 42,800 x 42,800
CAPSTAR HOTEL CO COM 140918103 3,586,800.00 128,100 x 128,100
CAPSTONE CAPITAL CORP COM 14066R102 368,000.00 16,000 x 16,000
CARLYLE INDUSTRIES INC COM 143093102 19,275.00 15,420 x 15,420
CARNEGIE BANCORP-- NJ COM 143490100 2,654,318.00 76,659 x 76,659
CARR GOTTSTEIN FOODS CO COM 14441E107 274,970.00 37,284 x 37,284
CARTER WALLACE INC COM 146285101 541,875.00 30,000 x 30,000
CASTLE & COOKE INC COM 148433105 1,790,250.00 93,000 x 93,000
CASTLE ENERGY CORP COM 148449309 759,831.00 39,344 x 39,344
CBS CORP COM 12490K107 1,256,728.50 39,582 2 1 800 38,782
CBS CORP COM 12490K107 412,750.00 13,000 x 13,000
CBT CORP-KY COM 124852104 607,750.00 18,700 x 18,700
CCC INFORMATION SERVICES GROU COM 12487Q109 303,814.50 18,413 2 1 18,413
CCC INFORMATION SERVICES GROU COM 12487Q109 247,500.00 15,000 x 15,000
CEANIC CORP COM 149909103 1,900,688.00 98,100 x 98,100
CELADON GROUP INC INC COM 150838100 777,100.00 40,900 x 40,900
CENTENNIAL CELLULAR CORP-C COM 15133V109 1,996,219.00 53,500 x 53,500
CENTRAL BANKING SYSTEMS IN COM 152609103 -- 206,296 x 206,296
CENTRAL REALTY INVESTORS INC COM 155052103 -- 13,000 2 1 13,000
CENTURY COMMUNICATIONS CORP COM 156503104 209,268.75 11,161 2 1 11,161
CHANCELLOR MEDIA CORP COM 158915108 139,036.80 2,800 2 1 2,800
CHANCELLOR MEDIA CORP COM 158915108 198,624.00 4,000 2 2 4,000
CHANCELLOR MEDIA CORP COM 158915108 496,560.00 10,000 x 10,000
CHARTER FED SR BIC ESCROW COM 161223987 5,764.00 92,230 x 92,230
CHASE MANHATTAN CORP NEW COM 16161A108 545,714.00 7,228 2 1 7,228
CHASE MANHATTAN CORP NEW COM 16161A108 98,603.00 1,306 2 2 1,306
CHAUVCO RESOURCES INTL LTD COM G19472102 13,655.00 137,928 x 137,928
CHESAPEAKE ENERGY CORP COM 165167107 756,272.00 189,068 x 189,068
CHESAPEAKE ENERGY CORP COM 165167107 76,000.00 19,000 2 1 19,000
CHEVRON CORP COM 166751107 182,736.40 2,200 2 1 1,000 1,200
CHEVRON CORP COM 166751107 498,372.00 6,000 2 2 6,000
CHRIS-CRAFT INDUSTRIES INC COM 170520100 318,387.71 5,822 2 2 5,822
CHRIS-CRAFT INDUSTRIES INC COM 170520100 281,638.05 5,150 x 5,150
CHRISTIANA COMPANIES INC COM 170819106 2,318,800.00 74,800 x 74,800
CHRYSLER CORP COM 171196108 5,073,750.00 90,000 x 90,000
CHUBB CORP COM 171232101 345,612.50 4,300 2 1 4,300
CIENA CORP COM 171779101 2,849,500.00 41,000 x 41,000
CINCINNATI BELL INC-W/RTS TO COM 171870108 243,312.50 8,500 2 2 8,500
CIRCON CORP COM 172736100 1,846,897.00 121,108 x 121,108
CIRCUS CIRCUS ENTERPRISES COM 172909103 762,188.00 45,000 x 45,000
CISCO SYSTEMS INC COM 17275R102 501,737.90 5,450 2 1 5,450
CITATION COMPUTER SYSTEMS COM 172894107 402,475.00 94,700 x 94,700
CITICORP COM 173034cg2 1,492,500.00 10,000 x 10,000
CITIZENS UTILITIES CO SER B COM 177342201 1,495,782.86 155,406 2 1 1,522 153,884
CITIZENS UTILITIES CO SER B COM 177342201 319,954.25 33,242 2 2 33,242
CITIZENS UTILITIES CO SER B COM 177342201 193,943.75 20,150 x 20,150
CITIZENS UTILITIES CO-SER COM 177342201 484,012.00 50,287 x 50,287
CITY NATIONAL CORP COM 178566105 258,559.00 7,000 2 1 7,000
CITY NATIONAL CORP COM 178566105 184,685.00 5,000 2 2 5,000
CLAREMONT TECHNOLOGY GRP I COM 180243107 5,665,481.00 211,300 x 211,300
CLOROX CO COM 189054109 820,225.00 8,600 2 1 8,600
CLOROX CO COM 189054109 228,900.00 2,400 2 2 2,400
CLOROX CO COM 189054109 476,875.00 5,000 x 5,000
CMS ENERGY CORP COM 125896100 352,000.00 8,000 x 8,000
COAST FEDERAL LITIG RTS COM 19034Q110 1,577,538.00 104,300 x 104,300
COCA COLA ENTERPRISES INC COM 191219104 392,500.00 10,000 2 1 10,000
COGNIZANT CORP COM 192441103 630,000.00 10,000 2 1 10,000
COGNIZANT CORP COM 192441103 907,956.00 14,412 2 2 14,412
COGNIZANT CORP COM 192441103 630,000.00 10,000 x 10,000
COHERENT COMMUNICATIONS SY COM 192478105 4,526,769.00 96,700 x 96,700
COLEMAN CO COM 193559101 1,866,188.00 161,400 x 161,400
COLONIAL PROPERTIES TRUST COM 195872106 248,000.00 8,000 x 8,000
COLUMBIA HCA HEALTHCARE COM 197677107 390,159.00 13,396 x 13,396
COMCAST UK CABLE PARTNERS COM G22984101 3,738,331.00 238,300 x 238,300
COMERICA INC COM 200340107 377,625.00 5,700 2 1 5,700
COMMUNITY FINANCIAL HOLDIN COM 20365P101 308,200.00 13,400 x 13,400
COMPAQ COMPUTER CORP COM 204493100 536,003.75 18,890 2 1 18,890
COMPASS BANC COM 20449H109 224,375.00 5,000 x 5,000
COMPUTER ASSOCIATES INTL INC COM 204912109 333,372.00 6,000 2 1 6,000
COMSAT SERIES 1 COM 20564D107 1,841,020.00 65,025 x 65,025
CONSUMERS FINANCIAL CORP COM 210520102 9,544.00 25,768 x 25,768
CONSUMERS WATER CO COM 210723102 414,375.00 15,000 x 15,000
CONTOUR MEDICAL INC COM 21220B105 1,999,827.00 261,074 x 261,074
COOPER INDUSTRIES COM 216669101 824,063.00 15,000 x 15,000
COPLEY PHARMACEUTICAL INC COM 21745K101 397,513.00 64,900 x 64,900
CORECOMM COM 21868N106 345,800.00 13,300 x 13,300
CORPORATE EXPRESS COM 219888104 139,620.00 11,059 x 11,059
CORRECTIONS CP OF AMERICA COM 220256101 1,621,500.00 69,000 x 69,000
CRESTAR FINANCIAL COM 226091106 2,924,277.00 53,595 x 53,595
CRW FINANCIAL INC COM 126276104 1,298,571.00 251,844 x 251,844
CSF HOLDINGS ESCROW COM 126335991 3,419.00 27,350 x 27,350
D R HORTON INC COM 23331A109 1,508,574.00 72,267 x 72,267
D&N FINANCIAL CORP COM 232864108 383,411.60 14,300 2 1 14,300
DATA TRANSMISSION NETWORK COM 238017107 2,748,000.00 68,700 x 68,700
DATAFLEX CORP COM 237905104 874,530.00 213,300 x 213,300
DAWSON PRODUCTION SERVICES COM 239423106 296,250.00 20,000 x 20,000
DBL LIQUIDATING TRUST COM 233038108 -- 13,000 x 13,000
DEKALB GENITICS CORP-CL B COM 244878203 8,582,488.00 90,700 x 90,700
DELTA & PINE LAND CO COM 247357106 3,586,700.00 80,600 x 80,600
DELTA AIR LINES INC-W/RTS TO COM 247361108 517,000.00 4,000 2 1 4,000
DEVELOPERS DIVERSIFIED REALTY COM 251591103 274,309.00 7,000 2 1 800 6,200
DIAL CORP ARIZ COM 25247D101 259,370.00 10,000 x 10,000
DIGITAL BIOMETRICS INC COM 253833107 66,750.00 26,700 x 26,700
DIME BANCORP INC COM 25429Q102 2,155,464.00 72,000 2 1 1,000 71,000
DIME FINANCIAL CORP-CONN COM 25432H107 3,933,400.00 110,800 x 110,800
DOLE FOOD CO INC COM 256605106 198,748.00 4,000 2 1 4,000
DOLE FOOD CO INC COM 256605106 408,178.70 8,215 2 2 8,215
DOLE FOOD CO INC COM 256605106 298,122.00 6,000 x 6,000
DOMAIN ENERGY CORP COM 257027102 1,807,200.00 150,600 x 150,600
DONNELLEY ENTERPRISE SOLUT COM 25786M108 1,659,000.00 79,000 x 79,000
DR SOLOMONS GROUP PLC COM 261384101 4,684,300.00 134,800 x 134,800
DRESSER INDUSTRY COM 261597108 4,503,188.00 102,200 x 102,200
DSC COMMUNICATION COM 233311109 5,007,050.00 167,600 x 167,600
DUN & BRADSTREET CORP DEL COM 26483B106 480,462.50 13,300 2 1 13,300
DUN & BRADSTREET CORP DEL COM 26483B106 520,633.50 14,412 2 2 14,412
DUN & BRADSTREET CORP DEL COM 26483B106 361,250.00 10,000 x 10,000
DYNASTY CLASSICS COM 268127107 -- 14,415 x 14,415
DYNATECH CORP NEW (dyna) COM 268140100 51,165.00 16,399 x 16,399
EBS BUILDING LLC RSTD CL A COM N/A 657,160.00 262,864 x 262,864
EBS LITIGATION LLC RSTD CL COM N/A 14,414.00 57,654 x 57,654
EBS PENSION LLC RSTD CL A COM N/A 14,508.00 58,030 x 58,030
ECC INTERNATIONAL CORP COM 268255106 107,575.00 33,100 x 33,100
ECHLIN CORP COM 278749106 15,724,531.00 320,500 x 320,500
EL PASO NATURAL GAS CO NEW COM 283695872 347,386.50 9,082 2 1 9,082
EL PASO NATURAL GAS CO NEW COM 283695872 459,000.00 12,000 2 2 12,000
EL PASO NATURAL GAS CO NEW COM 283695872 306,000.00 8,000 x 8,000
ELCOM INTERNATIONAL INC COM 284434107 708,325.00 195,400 x 195,400
ELCOTEL INC COM 284447109 110,246.00 23,837 x 23,837
ELECTRONIC DATA SYSTEMS CORP COM 285661104 268,000.00 6,700 2 1 6,700
ELI LILLY & CO COM 532457108 528,496.00 8,000 x 8,000
ELSAG BAILEY PROCESS. COM N2925S101 1,925,000.00 80,000 x 80,000
EMERGING COMMUNICATIONS IN COM 29089K108 382,632.00 44,700 x 44,700
EMMIS COMMUNICATIONS CORP-CL COM 291525103 239,060.00 5,000 2 1 5,000
EMMIS COMMUNICATIONS CORP-CL COM 291525103 143,436.00 3,000 2 2 3,000
ENEX RESOURCES COM 292744208 288,945.00 19,263 x 19,263
ENRON CORP COM 293561106 15,894.23 294 2 1 294
ENRON CORP COM 293561106 270,310.00 5,000 x 5,000
ENVIRODYNE INDUSTRIES INC COM 294037205 648,050.00 99,700 x 99,700
ENVIROTEST SYSTEMS INC-CL COM 294109W10 698,438.00 44,700 x 44,700
EQK REALTY INVESTORS 1 SBI COM 268820107 10,336.80 23,600 2 1 23,600
EQUITABLE COMPANIES INC COM 29444G107 1,041,624.30 13,900 2 1 13,900
EQUITABLE COMPANIES INC COM 29444G107 487,090.50 6,500 2 2 6,500
EQUITY OFFICE PROP TRUST SBI COM 294741103 586,057.25 20,654 2 1 1,125 19,529
EQUITY OFFICE PROPERTIES T COM 294741103 436,947.00 15,399 x 15,399
EQUITY RESIDENTIAL PPTYS T COM 29476L883 1,549,913.00 59,900 x 59,900
ESSEX COUNTY GAS COMPANY COM 296772106 3,849,786.00 83,691 x 83,691
EVI WEATHERFORD INC COM 268939105 1,489,752.00 40,128 2 1 166 39,962
EVI WEATHERFORD INC COM 268939105 716,735.25 19,306 2 2 19,306
EVI WEATHERFORD INC COM 268939105 185,625.00 5,000 x 5,000
EXCEL COMMUNICATION INC COM 30065K104 4,128,750.00 180,000 x 180,000
EXCEL REALTY TRUST INC COM 30067R107 1,005,556.00 34,900 x 34,900
EXECUTIVE RISK INC COM 301586103 918,187.50 12,450 2 1 800 11,650
EXXON CORP COM 302290101 133,496.06 1,872 2 1 1,872
EXXON CORP COM 302290101 370,822.40 5,200 2 2 5,200
FANNIE MAE COM 313586109 486,000.00 8,000 2 1 8,000
FED ONE BANCORP INC COM 313091100 2,393,011.00 53,927 x 53,927
FEDERATED DEPARTMENT STORES I COM 31401H101 484,308.00 9,000 2 1 9,000
FELCOR SUITE HOTELS INC COM 314305103 414,150.00 13,200 2 1 800 12,400
FINA INC CL A COM 31734L101 3,978,000.00 61,200 x 61,200
FINANCIAL FEDERAL CORP COM 317492106 2,566,283.77 95,714 2 1 1,050 94,664
FIRST CHICAGO NBD CORP (fc COM 31945A100 1,329,375.00 15,000 x 15,000
FIRST COLORADO BANCORP INC COM 319764104 2,706,014.00 97,514 x 97,514
FIRST COMMERCIAL CORP COM 319825105 4,981,125.00 71,800 x 71,800
FIRST COMMUNITY BANKING COM 31984A102 337,200.00 14,050 x 14,050
FIRST DATA CORP COM 319963104 266,496.00 8,000 x 8,000
FIRST HOME BANCORP INC-NJ COM 320947107 1,545,738.00 50,784 x 50,784
FIRST PALM BEACH COM 33589B105 808,400.00 18,800 x 18,800
FIRST REPUBLIC BANCORP INC COM 336158100 1,679,668.00 46,496 2 1 46,496
FIRST REPUBLIC BANCORP INC COM 336158100 180,625.00 5,000 2 2 5,000
FIRST SECURITY CORP DEL COM 336294103 217,576.00 10,179 x 10,179
FIRST SHENANGO BANCORP INC COM 336409107 683,885.00 16,575 x 16,575
FIRST UNION CORP COM 337358105 466,000.00 8,000 2 1 8,000
FIRST UNION CORP COM 337358105 291,250.00 5,000 x 5,000
FIRST UNION REAL EST EQ & COM 337400105 462,500.00 50,000 x 50,000
FIRSTAR CORP NEW COM 33761C103 1,520,000.00 40,000 x 40,000
FIRSTBANK OF ILLNOIS CO COM 337613103 559,265.00 13,456 x 13,456
FLEET FINANCIAL GROUP COM 338915101 835,000.00 10,000 x 10,000
FLORIDA EAST COAST INDS IN COM 340632108 2,784,600.00 95,200 x 95,200
FLUKE CORP COM 343856100 5,361,913.00 163,100 x 163,100
FOAMEX INTERNATIONAL INC COM 344123104 3,054,959.00 175,825 x 175,825
FOCUS SURGERY INC (fcus) COM 344163100 1,748.00 51,400 x 51,400
FOUNTAIN POWER BOAT IND IN COM 350755302 170,500.00 15,500 x 15,500
FRANKLIN BANCORPORATION IN COM 352433106 1,801,875.00 77,500 x 77,500
FRESENIUS NATL MED. CL D COM 358030203 14,664.00 225,600 x 225,600
FUSION SYSTEMS CORP CVR RT COM 361129117 3,072.00 98,300 x 98,300
GANNETT CO INC COM 364730101 227,398.40 3,200 2 2 3,200
GAYLORD CONTAINER CL A COM 368145108 356,984.00 46,437 x 46,437
GENENTECH INC NEW COM 368710307 1,878,441.00 27,675 x 27,675
GENERAL CABLE PLC SPONS AD COM 36930Q101 1,705,000.00 88,000 x 88,000
GENERAL ELECTRIC CO COM 369604103 1,610,700.00 17,700 2 1 800 16,900
GENERAL ELECTRIC CO COM 369604103 1,365,000.00 15,000 x 15,000
GENERAL RE CORP COM 370563108 9,430,200.00 37,200 x 37,200
GENEVA STEEL CO-14% EXCH P COM 372252403 590,000.00 5,000 x 5,000
GENOVESE DRUG STORES CL A COM 372442202 869,388.00 44,300 x 44,300
GIANT FOOD INC-CL A NON VO COM 374478105 1,722,500.00 40,000 x 40,000
GIBRALTER PACKAGING COM 374758100 114,558.00 45,823 x 45,823
GILLETTE CO COM 375766102 802,914.67 14,164 2 1 14,164
GILLETTE CO COM 375766102 566,870.00 10,000 x 10,000
GLAXO PLC COM 37733W105 305,041.20 5,100 2 1 5,100
GLAXO PLC COM 37733W105 123,571.59 2,066 2 2 2,066
GLOBAL MOTORSPORT GROUP IN COM 378937106 1,928,344.00 92,100 x 92,100
GNI GROUP INC COM 362022105 946,744.00 147,067 x 147,067
GOLDEN STATE BANCORP WTS COM 381197136 126,113.00 23,739 x 23,739
GOODMARK FOODS INC COM 382387108 853,200.00 28,800 x 28,800
GRAND PRIX ASSOC OF LONG B COM 386176101 2,164,959.00 110,853 x 110,853
GRANITE STATE BANKSHARES I COM 387472103 398,118.00 14,477 x 14,477
GREAT LAKES CHEMICAL CORP COM 390568103 591,563.00 15,000 x 15,000
GREEN TREE FINANCIAL CORP COM 393505102 6,877,425.00 160,500 x 160,500
GRYPHON HOLDINGS INC COM 400515102 168,300.00 10,200 x 10,200
GT BICYCLES INC COM 36229H101 218,278.00 29,850 x 29,850
GTE CORP COM 362320103 170,490.62 3,065 2 1 500 2,565
GTE CORP COM 362320103 164,761.25 2,962 2 2 2,962
GTE CORP COM 362320103 278,125.00 5,000 x 5,000
GULFMARK INTERNATIONAL INC COM 402629109 948,220.00 41,680 2 1 41,680
GULFMARK INTERNATIONAL INC COM 402629109 172,900.00 7,600 2 2 7,600
GULFPORT ENERGY CORP COM 402635105 191,294.00 170,039 x 170,039
H F AHMANSON & CO COM 008677106 8,974,400.00 126,400 x 126,400
H F AHMANSON & CO COM 008677106 142,000.00 2,000 2 2 2,000
H F AHMANSON & CO COM 008677106 71,000.00 1,000 2 1 1,000
HALLIBURTON CO COM 406216101 427,795.20 9,600 2 1 9,600
HANNAFORD BROS CO COM 410550107 1,122,000.00 25,500 x 25,500
HARBORSIDE HEALTHCARE CP COM 411614100 2,036,538.00 85,300 x 85,300
HARVEY'S CASINO RESORTS COM 417826104 2,441,250.00 90,000 x 90,000
HAVEN BANCORP INC COM 419352109 407,437.50 15,900 2 1 15,900
HEALTHCOR HOLDINGS INC COM 422201103 43,500.00 34,800 x 34,800
HEARST-ARGYLE TELEVISION INC COM 422317107 420,000.00 10,500 x 10,500
HEARTLAND WIRELESS COM 42235W108 14,149.00 18,111 x 18,111
HEFTEL BROADCASTING CORP-CL A COM 422799106 223,750.00 5,000 x 5,000
HERITAGE FINANCIAL SERVICE COM 42723H100 502,275.00 14,800 x 14,800
HEWLETT PACKARD CO COM 428236103 89,812.50 1,500 2 2 1,500
HEWLETT PACKARD CO COM 428236103 239,500.00 4,000 2 1 4,000
HFNC FINANCIAL COM 404177107 246,400.00 22,400 x 22,400
HIBERNIA CORP-CL A COM 428656102 394,767.00 19,555 x 19,555
HILTON HOTELS COM 432848109 718,200.00 25,200 x 25,200
HOLLINGER INTERNATIONAL INC C COM 435569108 476,000.00 28,000 2 1 28,000
HOLLINGER INTERNATIONAL INC C COM 435569108 255,000.00 15,000 2 2 15,000
HOLLINGER INTERNATIONAL INC C COM 435569108 170,000.00 10,000 x 10,000
HOLLY CORP NEW COM 435758305 1,395,650.00 54,200 x 54,200
HOLLYWOOD PARK (hpk) COM 436255103 545,728.00 43,226 x 43,226
HOLOPAK TECH. COM 436451108 66,748.00 31,411 x 31,411
HOME BANCORP OF ELGIN INC COM 436892103 791,475.00 51,900 x 51,900
HOME DEPOT INC COM 437076102 87,048.98 1,048 2 1 1,048
HOME DEPOT INC COM 437076102 415,310.00 5,000 x 5,000
HOMEOWNERS GROUP INC ESCRO COM 43739N982 69,368.00 266,800 x 266,800
HOMEUSA INC COM 437881105 1,688,000.00 168,800 x 168,800
HOSPITAL STAFFING SERVICES COM 440900108 -- 32,900 x 32,900
HOST MARRIOTT CORP COM 441078102 952,942.00 53,500 2 1 1,000 52,500
HOST MARRIOTT CORP COM 441078102 53,436.00 3,000 2 2 3,000
HOUSEHOLD INTL INC COM 441815107 358,200.00 7,200 2 1 7,200
HUMANA INC. COM 444859102 9,112,988.00 292,200 x 292,200
HYPERION SOFTWARE CORP COM 44914Q105 1,444,950.00 50,700 x 50,700
IBAH INC COM 457031104 3,041,376.00 487,400 x 487,400
IBS FINANCIAL CORP COM 44922Q109 1,300,016.00 68,875 x 68,875
IGEN INTERNATIONAL INC-DEL COM 449536101 203,750.00 5,000 x 5,000
IMAGYN MEDICAL TECHNOLOGIE COM 45244E100 30,174.00 60,348 x 60,348
IMPERIAL HOLLY CORP COM 452835101 631,529.00 69,686 x 69,686
IN HOME HEALTH COM 453222101 69,543.00 69,543 x 69,543
INCO LTD CL VBN (VOYSEY BA COM 453258709 369,944.00 52,400 x 52,400
INDENET INC COM 45337P103 80,500.00 28,000 x 28,000
INLAND STEEL INDUSTRIES IN COM 457472108 3,692,563.00 131,000 x 131,000
INNOVATIVE TECH SYSTEMS IN COM 45764L401 1,485,600.00 247,600 x 247,600
INSILCO CORP NEW COM 457659704 266,294.00 6,001 x 6,001
INTEL CORP COM 458140100 318,737.50 4,300 2 1 4,300
INTEL CORP COM 458140100 29,650.00 400 2 2 400
INTERMAGNETICS GENERAL CORP COM 458771102 144,156.75 15,798 2 1 15,798
INTERNATIONAL BUSINESS MACHIN COM 459200101 1,482,452.54 12,912 2 1 12,912
INTERNATIONAL BUSINESS MACHIN COM 459200101 54,191.26 472 2 2 472
INTERNATIONAL TECHNOLOGY COM 460465404 956,346.00 100,668 x 100,668
INTERPORE INTERNATIONAL COM 46062W107 443,252.00 84,429 x 84,429
INTERPUBLIC GROUP OF COS INC COM 460690100 415,584.58 6,848 2 1 6,848
INTERPUBLIC GROUP OF COS INC COM 460690100 303,435.00 5,000 x 5,000
INTERSOLV INC COM 46070J106 788,988.00 49,700 x 49,700
INTERSTATE ENERGY CORP-WIS COM 460845100 207,903.00 6,397 x 6,397
INTIME SYSTEMS INT'L IN CL COM 461158107 574,425.00 67,500 x 67,500
IQ SOFTWARE CORP COM 449854108 178,000.00 16,000 x 16,000
ITEQ INC COM 450430103 960,928.00 131,409 x 131,409
ITT INDUSTRIES INC COM 450911102 1,943,500.00 52,000 x 52,000
IVI CHECKMATE CORP COM 450928106 440,107.00 65,201 x 65,201
IXC COMMUNICATIONS INC COM 450713102 266,437.00 5,522 x 5,522
JACOR COMMUNICATIONS INC COM 469858401 265,500.00 4,500 2 1 400 4,100
JACOR COMMUNICATIONS INC COM 469858401 295,000.00 5,000 x 5,000
JOHN ALDEN FINANCIAL CORP COM 477838106 1,306,800.00 59,400 x 59,400
JOHN HANCOCK BANK & THRIFT OP COM 409735107 544,327.20 45,600 2 1 45,600
JOHNSON & JOHNSON COM 478160104 1,224,250.00 16,600 2 1 16,600
JOHNSON & JOHNSON COM 478160104 508,875.00 6,900 2 2 6,900
JOHNSON & JOHNSON COM 478160104 590,000.00 8,000 x 8,000
JPS TEXTILE GROUP INC (jps COM 46624E405 482,513.00 38,601 x 38,601
K N ENERGY INC COM 482620101 65,024.40 1,200 2 1 1,200
K N ENERGY INC COM 482620101 384,727.70 7,100 2 2 7,100
KANSAS CITY POWER & LIGHT COM 482134100 4,558,800.00 157,200 x 157,200
KANSAS CITY SO COM 485170104 248,125.00 5,000 2 2 5,000
KANSAS CITY SO COM 485170104 248,125.00 5,000 x 5,000
KDI CORP-CONTINGENT PMT UNIT COM 482452307 -- 149,500 x 149,500
KELLEY OIL & GAS CORP COM 487906109 46,240.00 20,000 2 1 20,000
KIMCO REALTY CORP COM 49446r109 20,500.00 500 2 1 500
KIMCO REALTY CORP COM 49446r109 205,000.00 5,000 x 5,000
KIMCO REALTY CORP 7.5 PFD COM 49446R877 370,799.00 13,670 x 13,670
KINDER MORGAN ENERGY PRTNS COM 494550106 552,351.00 15,290 x 15,290
KOREAN INVESTMENT FUND INC COM 500637103 60,800.00 20,698 x 20,698
LA QUINTA INNS INC COM 504195108 5,173,125.00 232,500 x 232,500
LAB HOLDINGS INC COM 505353102 1,893,236.00 81,649 x 81,649
LABORATORY CORP OF AMER COM 50540R102 234,689.00 101,487 x 101,487
LABORATORY CORP OF AMER WT COM 50540R110 648.00 41,445 x 41,445
LABORATORY CORP OF AMERICA COM 50540R201 477,090.00 8,835 x 8,835
LAIDLAW ENVIROMENTAL SERVI COM 50730L105 3,186,295.00 878,978 x 878,978
LAM RESEARCH CORP COM 512807108 306,956.25 16,050 2 1 16,050
LANDSING PACIFIC FUND COM 515096105 818.00 81,850 x 81,850
LEUCADIA NATIONAL COM 527288104 1,981,270.00 59,925 x 59,925
LEVEL 3 COMMUNICATIONS INC COM 493876106 518,000.00 7,000 2 1 7,000
LIBERTE INVESTORS INC COM 530154103 76,125.00 20,300 2 1 20,300
LIFE FINANCIAL CORP COM 53184P101 883,800.00 49,100 x 49,100
LIFE RE CORP COM 532160108 287,000.00 3,500 2 1 3,500
LITTLE SWITZERLAND INC COM 537528101 719,250.00 164,400 x 164,400
LOCKHEED MARTIN CORP COM 539830109 529,375.00 5,000 2 2 5,000
LONE STAR LIQUIDATING TRUS COM 54229R102 1,372,400.00 9,802,855 x 9,802,855
LONE STAR TECHNOLOGIES COM 542312103 928,725.00 60,900 x 60,900
LONG ISLAND BANCORP INC COM 542662101 7,832,144.00 129,190 x 129,190
LONGS DRUG STORES CORP COM 543162101 811,388.00 28,100 x 28,100
LUCENT TECHNOLOGIES INC COM 549463107 397,800.23 4,782 2 1 400 4,382
LUCENT TECHNOLOGIES INC COM 549463107 185,340.64 2,228 2 2 2,228
LUKENS MEDICAL CORP COM 549870103 265,697.00 90,450 x 90,450
MACK-CALI REALTY CORP COM 554489104 343,750.00 10,000 2 1 10,000
MAGNA GROUP INC (mgr) COM 559214101 4,893,267.00 85,892 x 85,892
MAGNUM HUNTER RESOURCES IN COM 55972F203 191,250.00 30,000 x 30,000
MANOR CARE INC COM 564054104 4,286,742.00 111,525 x 111,525
MARINER HEALTH GROUP INC COM 56845J109 1,138,813.00 68,500 x 68,500
MARKETSPAN CORP COM 57061V107 1,290,157.00 43,095 x 43,095
MARQUEE GROUP INC (mrt) COM 570906107 1,032,531.00 173,900 x 173,900
MARYLAND FEDERAL BANCORP I COM 574061107 754,450.00 19,100 x 19,100
MATLACK SYSTEMS INC COM 576901102 147,656.00 18,900 x 18,900
MATRIX CAPITAL CORP COM 576819106 5,345,298.00 197,974 x 197,974
MATRIX SERVICES INC COM 576853105 366,800.00 52,400 x 52,400
MAY & SPEH INC COM 577777105 1,378,550.00 69,800 x 69,800
MAY DEPARTMENT STORES CO COM 577778103 327,500.00 5,000 x 5,000
MBO PROPERTIES INC COM 55263L109 2,706,428.00 360,857 x 360,857
MCDONALD & CO INVESTMENTS COM 580047108 2,346,094.00 71,500 x 71,500
MCDONALDS CORP COM 580135101 224,250.00 3,250 2 1 3,250
MCI COMMUNICATIONS CORP COM 552673105 26,702,944.00 459,900 x 459,900
MEDCATH INC COM 584050108 2,246,944.00 122,700 x 122,700
MEDICAL RESOURCES INC COM 58461Q102 98,000.00 32,000 x 32,000
MEDIWARE INFORMATION SYSTE COM 584946107 425,425.00 57,200 x 57,200
MEDPARTNERS INC NEW (mdm) COM 58503X107 300,800.00 37,600 x 37,600
MEDUSA CORP COM 585072309 2,286,284.00 36,400 x 36,400
MEGO FINANCIAL CORP COM 585162100 247,500.00 72,000 x 72,000
MELLON BANK CORP COM 585509102 1,754,550.00 25,200 x 25,200
MELLON BANK CORP-W/RTS TO PUR COM 585509102 139,250.00 2,000 2 2 2,000
MELLON BANK CORP-W/RTS TO PUR COM 585509102 48,737.50 700 2 1 700
MELLON BANK CORP-W/RTS TO PUR COM 585509102 348,125.00 5,000 x 5,000
MERCANTILE STORES CO. COM 587533100 4,341,563.00 55,000 x 55,000
MERCK & CO INC COM 589331107 615,250.00 4,600 2 2 4,600
MERCOM INC (meeo) COM 58935D109 230,082.00 21,403 x 21,403
MERCURY FINANCE CO COM 589395102 21,250.00 170,000 x 170,000
MERIDIAN MEDICAL TECHNOLOG COM 589658103 212,325.00 22,350 x 22,350
MERIDIAN RESOURCE CORP (TH COM 58977Q109 431,561.00 61,106 x 61,106
MERIDITH CORP COM 589433101 422,433.00 9,000 2 1 9,000
METACREATIONS CORP COM 591016100 67,712.00 14,841 x 14,841
METALLURG INC COM 591261102 1,728,451.00 64,615 x 64,615
METROCALL INC COM 591647102 291,297.00 48,049 x 48,049
METROCALL INC RTS COM 591647110 -- 67,749 x 67,749
METROMEDIA INTERNATIONAL G COM 591695101 135,897.00 11,384 x 11,384
METROMEDIA INTERNATIONAL GROU COM 591695101 53,716.50 4,500 2 1 4,500
METROMEDIA INTERNATIONAL GROU COM 591695101 95,496.00 8,000 x 8,000
MGI SOFTWARE CORP COM 55288J105 411,600.00 262,500 x 262,500
MGM GRAND INC COM 552953101 631,250.00 20,000 x 20,000
MICRONICS COMPUTERS INC COM 595127101 52,938.00 22,000 x 22,000
MICROS TO MAINFRAMES INC COM 594944100 543,138.00 217,255 x 217,255
MICROSOFT CORP COM 594918104 231,922.50 2,140 2 1 700 1,440
MICROSOFT CORP COM 594918104 606,900.00 5,600 2 2 5,600
MID AM INC. COM 594930109 293,963.00 11,700 x 11,700
MID OCEAN LTD-ORD COM G61061100 2,983,000.00 38,000 x 38,000
MIDLAND WALWYN INC COM 597801109 3,648,820.00 167,500 x 167,500
MILESTONE PORPERTIES INC . COM 599358207 285,344.00 198,500 x 198,500
MILESTONE PROPERTIES INC COM 599358108 42,088.00 48,100 x 48,100
MOBIL CORP COM 607059102 123,213.00 1,608 2 1 1,608
MOBIL CORP COM 607059102 217,615.00 2,840 2 2 2,840
MONEY STORE INC COM 60934T101 3,871,488.00 113,600 x 113,600
MONEY STORE INC-$1.72CV PF COM 60934T200 3,568,768.00 113,800 x 113,800
MONSANTO CO COM 611662107 335,250.00 6,000 2 2 6,000
MOORE MEDICAL CORP COM 615799103 879,550.00 71,800 x 71,800
MORTON INTERNATIONAL INC COM 619335102 245,000.00 9,800 x 9,800
MYCOGEN CORP COM 628452104 2,015,528.00 84,420 x 84,420
NACT TELECOMMUNICATIONS IN COM 628726109 4,808,700.00 246,600 x 246,600
NATIONAL HOME HEALTHCARE C COM 636380107 187,914.00 44,215 x 44,215
NATIONAL SURGERY CENTERS I COM 638044107 6,181,594.00 212,700 x 212,700
NATIONSBANK CORP COM 638585109 667,692.00 8,728 2 1 8,728
NATIONSBANK CORP COM 638585109 612,000.00 8,000 x 8,000
NAVIGANT INTERNATIONAL INC COM 63935R108 145,639.00 17,134 x 17,134
NETVANTAGE INC-CL A COM 64120U104 1,104,638.00 163,650 x 163,650
NEUREX CORP COM 641238100 5,546,475.00 182,600 x 182,600
NEW PLAN REALTY TRUST SBI COM 648059103 285,425.00 11,650 2 1 11,650
NEWMONT MINING COM 651639106 1,027,947.00 43,511 x 43,511
NEWPARK RESOURCES INC NEW COM 651718507 111,250.00 10,000 2 2 10,000
NIMBUS CD INTERNATIONAL IN COM 654390103 2,683,325.00 237,200 x 237,200
NOBEL EDUCATION DYNAMICS I COM 654884204 117,349.00 13,130 x 13,130
NOBEL INSURANCE LTD COM 654885102 2,001,061.00 149,612 x 149,612
NOEL GROUP INC COM 655260107 588,525.00 247,800 x 247,800
NOMAS CORP (nmas) COM 655319101 140,800.00 26,819 x 26,819
NORTH AMERICAN BANK & TRUST C COM 656751104 37,500.00 10,000 2 1 10,000
NORTH FORK BANCORPORATION INC COM 659424105 183,277.50 7,500 2 1 7,500
NORTH FORK BANCORPORATION INC COM 659424105 122,185.00 5,000 x 5,000
NORTHEAST BANCORP ESCROW/R COM 664058989 1,530.00 153,030 x 153,030
NORTHSTAR ENERGY CORP COM 66703R101 1,173,817.00 153,641 x 153,641
NORTHWESTERN STEEL & WIRE COM 668367204 210,031.00 61,100 x 61,100
NORWEST CORP COM 669380107 635,375.00 17,000 2 1 17,000
NORWEST CORP COM 669380107 299,000.00 8,000 x 8,000
NORWOOD PROMOTIONAL PRODUC COM 669729105 305,500.00 15,275 x 15,275
NOVARTIC AF SPONS ADR COM 66987V109 624,007.50 7,500 2 2 7,500
NOVARTIC AF SPONS ADR COM 66987V109 416,005.00 5,000 x 5,000
NS GROUP INC COM 628916108 202,500.00 20,000 x 20,000
NSC CORP COM 62938T103 56,247.00 30,507 x 30,507
NSS BANCORP INC COM 62938H109 1,915,200.00 34,200 x 34,200
NTL INCORPORATED COM 629407107 2,010,102.00 37,572 2 1 37,572
NTL INCORPORATED COM 629407107 96,300.00 1,800 2 2 1,800
NTN COMMUNICATIONS INC COM 629410309 52,200.00 52,200 x 52,200
OCEAN ENEGY INC NEW COM 374812201 200,359.00 10,242 x 10,242
OFFICE DEPOT INC COM 676220106 252,496.00 8,000 x 8,000
OMNICOM COM 681919106 224,437.50 4,500 2 1 600 3,900
OMNICOM COM 681919106 249,375.00 5,000 x 5,000
OPTI INC COM 683960108 1,058,663.00 155,400 x 155,400
ORANGE & ROCKLAND UTILITIE COM 684065105 1,304,606.00 24,300 x 24,300
ORION CAPITAL CORP W/RTS TO COM 686268103 279,375.00 5,000 x 5,000
ORTHOFIX INT NV COM N6748L102 350,058.00 27,189 x 27,189
PAGES INC-DEL COM 695537100 16,838.00 44,900 x 44,900
PALL CORP COM 696429307 1,281,721.50 62,523 2 1 1,000 61,523
PALL CORP COM 696429307 62,176.50 3,033 2 2 3,033
PANACO INC COM 698106101 49,219.00 12,500 x 12,500
PATRIOT AMER HOSPITALITY P COM 703352203 560,042.00 23,396 x 23,396
PATRIOT AMERICAN HOSPITALITY COM 703352203 335,118.00 14,000 2 1 14,000
PCA INTERNATIONAL INC COM 693180101 2,845,025.00 113,801 x 113,801
PENEDERM INC COM 706867108 1,932,000.00 96,600 x 96,600
PENNZOIL CO COM 709903108 2,030,063.00 40,100 x 40,100
PEOPLES BANCORP INC DEL COM 709789101 324,868.00 10,784 x 10,784
PEOPLES BANK-- BRIDGEPORT COM 710198102 341,887.00 9,874 x 9,874
PEOPLES CHOICE TV COM 710847104 12,103.00 10,192 x 10,192
PEOPLES CHOICE TV CORP UNI COM 710847ABO 448,500.00 1,380 x 1,380
PERSONNEL MANAGEMENT INC COM 71534B101 322,163.00 21,300 x 21,300
PESTEC ENERGY LTD SPON ADR COM 715796108 194,250.00 12,000 x 12,000
PETRIE STORES LIQUIDATING COM 716437108 532,175.00 186,075 x 186,075
PFIZER INC COM 717081103 554,303.70 5,100 2 1 1,200 3,900
PFIZER INC COM 717081103 1,434,668.40 13,200 2 2 13,200
PHARMACEUTICAL MKTG SVCS I COM 717123103 1,254,175.00 88,400 x 88,400
PHARMACIA & UPJOHN INC COM 716941109 2,550,713.00 55,300 x 55,300
PHARMERICA INC COM 717135107 372,276.00 31,023 x 31,023
PHILIPS PETROLEUM CO COM 718507106 289,122.00 6,000 2 1 6,000
PHOENIX NETWORK INC-ESCROW COM 718910995 -- 120,100 x 120,100
PHONETEL TECHNOLOGIES INC COM 71921H406 234,750.00 93,900 x 93,900
PHYMATRIX CORP COM 718925100 770,116.00 87,700 x 87,700
PHYSICIANS RESOURCE GROUP COM 71941S101 162,995.00 35,725 x 35,725
PHYSIO-CONTROL INTN'L CORP COM 719431108 2,947,000.00 112,000 x 112,000
PIONEER NATURAL RESOURCES COM 723787107 427,625.00 17,911 x 17,911
PIXTECH INC COM 72583K109 592,357.20 123,100 2 1 123,100
PLAINTREE SYSTEMS INC COM 72663E106 49,766.00 32,500 x 32,500
PLATINUM TECH. INC. COM 744,824.00 26,077 x 26,077
PLAYCORE INC (pco) COM 72811G102 226,854.00 50,412 x 50,412
PLAYCORE INC RTS COM 72811G995 -- 55,368 x 55,368
PLENUM PUBLISHING CORP COM 729093104 1,325,825.00 18,100 x 18,100
PMT SERVICES INC COM 693457103 2,613,625.00 103,000 x 103,000
POLLO TROPICAL INC COM 731513070 1,981,412.00 183,252 x 183,252
POLYGRAM NV COM 731733101 3,052,500.00 60,000 x 60,000
POLYPHASE CORP (ply) COM 731791109 45,000.00 60,000 x 60,000
PONCEBANK COM 73236Y108 1,746,090.00 66,900 x 66,900
POSITIVE RESPONSE TELEVISI COM 73739N997 -- 129,070 x 129,070
POST PROPERTIES INC COM 737464107 308,000.00 8,000 x 8,000
PREMIERE PAGE INC ESCROW COM 74058E998 -- 27,000 x 27,000
PREMIERE TECHNOLOGIES INC COM 74058F102 548,906.00 66,283 x 66,283
PRIMARK CORP COM 741903108 712,391.00 22,751 x 22,751
PRIME HOSPITALITY CORP COM 741917108 868,362.60 49,800 2 1 49,800
PRIME HOSPITALITY CORP COM 741917108 69,748.00 4,000 2 2 4,000
PRIME HOSPITALITY CORP COM 741917108 261,555.00 15,000 x 15,000
PRIME RETAIL INC COM 741570105 327,267.00 27,415 x 27,415
PRIME RETAIL INC 8.5% CV P COM 741570303 660,059.00 32,198 x 32,198
PRIMUS TELECOMMUNICATIONS COM 741929103 2,639,035.00 139,355 x 139,355
PROCTER & GAMBLE CO COM 742718109 1,249,370.64 13,720 2 1 800 12,920
PROCTER & GAMBLE CO COM 742718109 145,699.20 1,600 2 2 1,600
PROCTER & GAMBLE CO COM 742718109 910,620.00 10,000 x 10,000
PROGRESSIVE BANK INC COM 743313108 610,163.00 15,900 x 15,900
PROPERTY CAPITAL TRUST-SBI COM 743437105 35,063.00 37,400 x 37,400
PROSPECT GROUP NEW COM 742918501 2,822.00 18,811 x 18,811
PROTECTION ONE INC COM 743663304 848,794.00 78,050 x 78,050
PROVIDENT BANKSHARES CORP COM 743859100 4,326,794.50 146,671 2 1 1,702 144,969
PROVIDENT BANKSHARES CORP COM 743859100 483,918.00 16,404 2 2 16,404
QUADRAMED CORPORATION COM 74730w101 594,648.00 21,772 x 21,772
QUAKER STATE CORP COM 747410108 900,625.00 55,000 x 55,000
QUEST MEDICAL INC. COM 748346103 769,688.00 82,100 x 82,100
QUIPP INC COM 748802105 1,044,000.00 52,200 x 52,200
QWEST COMMUNICATIONS COM 749121109 5,722,374.00 164,377 x 164,377
R P SCHERER CORP-DEL COM 806528105 7,666,063.00 86,500 x 86,500
RAYTHEON CO CL A COM 755111101 2,676,681.00 46,450 x 46,450
RCN CORPORATION COM 749361101 1,579,763.00 81,800 x 81,800
REDFED BANCORP INC COM 757341102 3,884,278.00 197,925 x 197,925
REHABILICARE INC COM 758944102 62,596.00 23,846 x 23,846
RELIASTAR FINANCIAL CORP COM 75952U103 384,000.00 8,000 2 1 8,000
RELIASTAR FINANCIAL CORP COM 75952U103 384,000.00 8,000 2 2 8,000
RELIASTAR FINANCIAL CORP COM 75952U103 240,000.00 5,000 x 5,000
REPLIGEN CORP COM 759916109 78,446.00 51,230 x 51,230
REPUBLIC ENGINEERED STEELS COM 760391102 77,350.00 18,200 x 18,200
RESPONSE USA INC COM 761235506 123,719.00 18,500 x 18,500
RETIREMENT CARE ASSOCIATES COM 76129C307 2,831,848.00 383,200 x 383,200
RF POWER PRODUCTS INC COM 749553103 454,538.00 158,100 x 158,100
RFS HOTEL INVESTORS INC COM 74955J108 1,592,200.00 83,800 x 83,800
RIVIERA HOLDINGS CORP COM 769627100 321,409.00 52,475 x 52,475
RJR NABISCO HOLDINGS CORP COM 74960K876 2,638,625.00 111,100 x 111,100
ROCHE HOLDING LED SPONS ADR R COM 771195104 2,208,495.51 22,490 2 1 400 22,090
ROCHE HOLDING LED SPONS ADR R COM 771195104 981,990.00 10,000 2 2 10,000
ROCHE HOLDING LED SPONS ADR R COM 771195104 785,592.00 8,000 x 8,000
ROHN INC COM 775381106 963,984.00 205,650 x 205,650
ROSES HOLDINGS INC (rses) COM 777756107 18,453.00 10,309 x 10,309
ROTONICS MANUFACTURING COM 778903104 309,700.00 309,700 x 309,700
RYERSON TULL INC-CL A (rt) COM 783755101 1,996,700.00 97,400 x 97,400
SAKS HOLDING INC COM 79377R109 2,353,650.00 85,200 x 85,200
SAMSONITE CORP NEW (samc) COM 79604V105 463,540.00 43,120 x 43,120
SANDWICH BANCORP-MASS COM 800217101 3,054,350.00 48,100 x 48,100
SAVIN CORP ESCROW COM 805176989 -- 26,050 x 26,050
SBARRO INC COM 805844107 6,206,200.00 228,800 x 228,800
SBC COMMUNICATIONS INC COM 78387G103 313,920.00 7,848 2 1 7,848
SCHERING PLOUGH CORP COM 806605101 733,000.00 8,000 2 2 8,000
SCHERING PLOUGH CORP COM 806605101 87,043.75 950 2 1 950
SCHERING PLOUGH CORP COM 806605101 458,125.00 5,000 x 5,000
SCHOOL SPECIALTY INC COM 807863105 229,872.00 14,038 x 14,038
SCOTT TECHNOLOGIES INC-CL COM 810022202 250,750.00 17,000 x 17,000
SEALED AIR CORP $2 CONV PF COM 81211K209 645,162.00 15,361 x 15,361
SEALRIGHT CO INC COM 812138105 526,588.00 40,900 x 40,900
SEALY HOLDING INC WTS COM 812139111 18,147.00 82,486 x 82,486
SECURITY CAPITAL ATLANTIC COM 814137105 810,000.00 36,000 x 36,000
SECURITY CAPITAL GROUP INC COM 81413P204 213,000.00 8,000 x 8,000
SECURITY CAPITAL INDUST TR COM 814138103 267,500.00 10,700 2 1 800 9,900
SECURITY CAPITAL INDUST TR COM 814138103 250,000.00 10,000 x 10,000
SECURITY FIRST CORP COM 81425K102 536,485.00 20,936 x 20,936
SENSORAMIC ELECTRONICS COM 817265101 212,800.00 15,200 x 15,200
SHERWIN WILLIAMS CO COM 824348106 198,750.00 6,000 2 1 6,000
SHERWIN WILLIAMS CO COM 824348106 66,250.00 2,000 2 2 2,000
SHILOH INDUSTRIES COM 824543102 228,380.00 11,278 x 11,278
SIENA HOLDINGS INC COM 826203101 152,587.00 106,704 x 106,704
SIGMA CIRCUITS INC COM 826559106 1,891,275.00 181,200 x 181,200
SILICON VALLEY GROUP INC COM 827066101 1,622,583.24 101,020 2 1 1,800 99,220
SILICON VALLEY GROUP INC COM 827066101 137,169.48 8,540 2 2 8,540
SINCLAIR BROADCAST GROUP INC COM 089226109 373,750.00 13,000 x 13,000
SIZZLER INTERNATIONAL INC COM 830139101 372,006.00 135,275 x 135,275
SODEXHO MARRIOTT SERVICES INC COM 833793102 348,000.00 12,000 2 1 12,000
SOFTWARE PUBLISH CORP/ALLE COM 833979107 15,963.00 10,642 x 10,642
SOMERSET SAVINGS BANK NEW COM 835061201 1,433,644.00 297,900 x 297,900
SOVEREIGN BANCORP COM 845905108 364,798.08 22,320 2 1 1,440 20,880
SPAGHETTI WAREHOUSE INC COM 846329100 1,157,600.00 144,700 x 144,700
SPECIAL DEVICES INC COM 847409109 1,687,055.00 47,775 x 47,775
SPECTRANETICS CORP COM 84760C107 64,591.00 20,878 x 20,878
SPICE ENTERTAINMENT CO COM 848432100 167,578.00 27,500 x 27,500
SPS TRANSACTION SERVICES I COM 784627101 1,703,663.00 54,300 x 54,300
STARWOOD HOTELS & RESORTS COM 855905204 2,090,095.00 43,262 x 43,262
STARWOOD LODGING TRUST COM 855905204 1,350,272.09 27,949 2 1 783 27,166
STARWOOD LODGING TRUST COM 855905204 106,431.34 2,203 2 2 2,203
STATESMAN GROUP INC ESCROW COM 857645998 28,475.00 113,900 x 113,900
STATION CASINOS INC COM 857689103 1,971,063.00 134,200 x 134,200
STONE CONTAINER CORP COM 861589109 937,500.00 60,000 x 60,000
STRAWBRIDGE & CLOTHIER ESC COM 863200986 1,817.00 181,668 x 181,668
STUART ENTERTAINMENT COM 863689105 29,569.00 24,900 x 24,900
SUIZA FOODS CORP COM 865077101 274,861.00 4,605 x 4,605
SUMITOMO BANK OF CALIFONIA COM 898600101 342,166.00 9,064 x 9,064
SUMMIT BANCORP COM 866005101 527,250.00 11,100 2 1 11,100
SUMMIT HOLDING SOUTHEAST I COM 866078108 669,375.00 21,000 x 21,000
SUNAMERICA INC COM 866930100 646,166.25 11,250 2 1 11,250
SUNAMERICA INC COM 866930100 459,496.00 8,000 x 8,000
SUPERTEL HOSPITALITY INC COM 868524109 733,750.00 58,700 x 58,700
SWIFT ENERGY CO COM 870738101 192,837.70 12,100 2 1 12,100
SWISS HELVITIA FUND INC COM 870875101 870,400.00 27,200 2 1 27,200
SWISS HELVITIA FUND INC COM 870875101 89,600.00 2,800 2 2 2,800
SYMMETRICOM INC COM 871543104 232,200.00 38,700 x 38,700
T R FINANCIAL CORP COM 872630108 3,311,550.00 79,200 x 79,200
T ROWE PRICE U S TREASURY FUN COM 77957t107 177,322.16 33,269 2 1 33,269
TAKECARE INC ESCROW COM 874055585 -- 78,152 x 78,152
TAPPAN ZEE FINANCIAL INC COM 876067109 1,279,800.00 64,800 x 64,800
TARRAGON OIL & GAS LTD COM 87629E206 159,402.00 16,700 x 16,700
TELCO SYSTEMS INC COM 878904101 2,872,614.00 202,475 x 202,475
TELE-COMM INC NEW SER A LI COM 87924V507 931,500.00 24,000 x 24,000
TELE-COMMUNICATIONS CLA COM 87924V101 2,764,458.00 72,038 x 72,038
TELE-COMMUNICATIONS INC NE COM 87924V101 500,000.00 25,000 x 25,000
TELE-COMMUNICATIONS INC NEW S COM 87924V507 2,935,545.62 75,635 2 1 1,200 74,435
TELE-COMMUNICATIONS INC NEW S COM 87924V507 468,383.22 12,068 2 2 12,068
TELE-COMMUNICATIONS INC NEW S COM 87924V507 485,150.00 12,500 x 12,500
TELE-COMMUNICATIONS INC NEW T COM 87924V887 1,554,845.12 77,502 2 1 77,502
TELE-COMMUNICATIONS INC NEW T COM 87924V887 205,755.87 10,256 2 2 10,256
TELE-COMMUNICATIONS INC NEW T COM 87924V887 802,480.00 40,000 x 40,000
TELEMUNDO GROUP INC NEW-SE COM 87943M306 3,774,000.00 88,800 x 88,800
TELEPANEL SYSTEMS INC COM 87943U209 88,500.00 94,400 x 94,400
TELEPHONE DATA SYSTEMS COM 879433100 271,687.50 6,900 2 1 6,900
TELEPHONE DATA SYSTEMS COM 879433100 185,062.50 4,700 2 2 4,700
TELEPHONE DATA SYSTEMS COM 879433100 393,750.00 10,000 x 10,000
TELEPORT COMMUNICATIONS GR COM 879463107 13,342,317.00 246,225 x 246,225
TELETOUCH COMM. INC COM 87951V107 180,217.00 54,405 x 54,405
TELOS CORP 12% PFD COM 87969B200 69,383.00 14,607 x 14,607
TEL-SAVE HOLDINGS INC COM 879176105 1,774,425.00 120,300 x 120,300
TELXON CORP COM 879700102 1,146,863.00 35,700 x 35,700
TENET HEALTHCARE COM 902973106 296,875.00 9,500 2 1 9,500
TEXAS INSTRUMENTS INC COM 882508104 548,132.80 9,400 2 1 600 8,800
TEXAS INSTRUMENTS INC COM 882508104 442,354.83 7,586 2 2 7,586
TEXAS UTILITIES CO COM 882848104 347,027.62 8,337 2 1 800 7,537
TEXAS UTILITIES CO COM 882848104 333,000.00 8,000 x 8,000
THERMO VOLTEK CORP COM 883602104 518,000.00 74,000 x 74,000
TIG HOLDINGS INC COM 872469101 9,200.00 400 2 1 400
TIG HOLDINGS INC COM 872469101 329,038.00 14,306 2 2 14,306
TIME WARNER INC (HOLDING CO) COM 887315109 2,176,934.76 25,480 2 1 400 25,080
TIME WARNER INC (HOLDING CO) COM 887315109 1,654,914.69 19,370 2 2 19,370
TIME WARNER INC (HOLDING CO) COM 887315109 854,370.00 10,000 x 10,000
TJX COMPANIES INC NEW COM 872540109 530,750.00 22,000 2 1 1,600 20,400
TJX COMPANIES INC NEW COM 872540109 144,750.00 6,000 2 2 6,000
TLC BEATRICE COM N/A 750,000.00 15,000 x 15,000
TODAYS MAN INC RSTD (tman) COM 888910205 83,496.00 35,625 x 35,625
TODD AO CORP CL A COM 888896107 151,700.00 14,800 2 2 14,800
TORCHMARK CORP COM 891027104 320,250.00 7,000 2 1 7,000
TORCHMARK CORP COM 891027104 128,100.00 2,800 2 2 2,800
TOSCO CORP COM 891490302 293,750.00 10,000 x 10,000
TOTAL CONTAINMENT INC. COM 89149T101 238,468.00 56,110 x 56,110
TOWN & COUNTRY CONV 6% PFD COM 892027400 1,762.00 14,093 x 14,093
TPI ENTERPRISES COM 872623103 -- 534,249 x 534,249
TRAK AUTO CORP COM 892887100 100,000.00 10,000 x 10,000
TRANS FINANCIAL INC COM 89323N102 3,749,875.00 65,500 x 65,500
TRANS FINANCIAL INC COM 89323N102 229,500.00 4,000 2 1 4,000
TRAVELERS INC COM 894190107 627,165.62 10,345 2 1 10,345
TRAVELERS INC COM 894190107 2,515,876.87 41,499 2 2 41,499
TRAVELERS INC COM 894190107 303,125.00 5,000 x 5,000
TRIANGLE PACIFIC CORP-DEL COM 895912103 4,922,400.00 89,600 x 89,600
TRIATHLON BROADCASTING CO COM 89589P106 1,690,092.00 161,925 x 161,925
TRIKON TECHNOLOGIES INC PF COM 896187986 191,301.00 34,782 x 34,782
TRIKON TECHNOLOGIES INC RS COM 155,252.00 276,004 x 276,004
TRITON ENERGY LTD-ORD CL A COM G90751101 5,531,563.00 155,000 x 155,000
TRO LEARNING INC COM 87263R109 238,913.00 27,700 x 27,700
TRUMP HOTELS & CASINO RESO COM 898168109 324,875.00 46,000 x 46,000
TYCO INTERNATIONAL LTD COM 902124106 1,787,940.00 28,380 2 1 400 27,980
TYCO INTERNATIONAL LTD COM 902124106 504,000.00 8,000 2 2 8,000
TYCO INTERNATIONAL LTD COM 902124106 630,000.00 10,000 x 10,000
U S HOMECARE CORP COM 911819100 5,000.00 10,000 2 1 10,000
U S INDUSTRIES INC NEW (us COM 912080108 801,826.00 32,397 x 32,397
U S RENTAL INC (usr) COM 911363109 2,583,156.00 65,500 x 65,500
U. S. OFFICE PRODUCTS CO ( COM 912325107 449,643.00 22,839 x 22,839
UAL CORP NEW COM 902549500 312,000.00 4,000 2 1 4,000
UDC HOMES SER C SUB NTS 0% COM 90264JAA8 -- 89,940 x 89,940
UNILEVER NV-- NEW YORK SHARES COM 904784501 394,685.00 5,000 2 2 5,000
UNILEVER NV-- NEW YORK SHARES COM 904784501 157,874.00 2,000 2 1 2,000
UNION CARBIDE COM 905581104 533,750.00 10,000 x 10,000
UNIQUE CASUAL RESTAURANT COM 90915K100 917,988.00 142,600 x 142,600
UNIT INSTRUMENTS INC COM 90921C100 446,400.00 49,600 x 49,600
UNITED DENTAL CARE INC-DEL COM 91018H101 3,582,450.00 188,550 x 188,550
UNITED DOMINION REALTY TRU COM 910197102 278,444.00 20,068 x 20,068
UNITED FEDERAL SAVINGS BAN COM 910272103 898,200.00 49,900 x 49,900
UNITED STATES SATELLITE B'CAS COM 912534104 350,610.00 30,000 x 30,000
UNITED STATES SURGICAL COR COM 912707106 5,931,250.00 130,000 x 130,000
UNITED TECHNOLOGIES CORP COM 913017109 157,250.00 1,700 2 1 1,700
UNITED TECHNOLOGIES CORP COM 913017109 74,000.00 800 2 2 800
UNITED TECHNOLOGIES CORP COM 913017109 462,500.00 5,000 x 5,000
UNITEL VIDEO INC COM 913253100 108,713.00 22,300 x 22,300
UNITY BANCORP INC-DEL COM 913290102 365,281.00 27,699 x 27,699
UNUM CORP COM 903192102 125,430.00 2,260 2 1 2,260
UNUM CORP COM 903192102 99,900.00 1,800 2 2 1,800
US DIAGNOSTIC INC COM 90328Q108 120,000.00 32,000 x 32,000
US FILTER CORP COM 911843209 4,331,391.00 154,348 x 154,348
US WEST MEDIA GROUP COM 912889201 627,420.36 14,280 2 1 14,280
US WEST MEDIA GROUP COM 912889201 175,748.00 4,000 2 2 4,000
US WEST MEDIA GROUP COM 912889201 878,740.00 20,000 x 20,000
USA NETWORKS INC COM 902984103 1,505,967.00 59,939 x 59,939
USA NETWORKS INC COM 902984103 282,907.50 11,260 x 11,260
USP REAL ESTATE INVT TRUST COM 903370104 456,960.00 98,139 x 98,139
VENTAS INC COM 92276F100 1,657,500.00 120,000 x 120,000
VIACOM HOLDING CL B COM 925524308 144,576.50 2,482 2 1 241 2,241
VIACOM HOLDING CL B COM 925524308 16,484.75 283 2 2 283
VIACOM HOLDING CL B COM 925524308 582,500.00 10,000 x 10,000
VIACOM INC COM 925524100 219,726.00 3,756 2 1 3,756
VIDEO UPDATE INC-CL A COM 92657V104 194,951.00 135,618 x 135,618
VIKING OFFICE PRODUCTS INC COM 926913104 5,801,700.00 186,400 x 186,400
VIRUS RESEARCH INSTITUTE I COM 927920108 232,925.00 66,550 x 66,550
VITALINK PHARMACY SVC (vtk COM 92846E104 1,620,888.00 73,468 x 73,468
VLASIC FOODS INTERNATIONAL IN COM 928559103 100,625.00 5,000 2 2 5,000
VLASIC FOODS INTERNATIONAL IN COM 928559103 116,725.00 5,800 x 5,800
W.R. GRACE & CO COM 38388F108 184,275.00 10,800 x 10,800
WAL-MART STORES INC COM 931142103 303,750.00 5,000 2 2 5,000
WAL-MART STORES INC COM 931142103 789,750.00 13,000 x 13,000
WALSH INT'L INC COM 933131104 5,279,059.00 275,525 x 275,525
WALSHIRE ASSURANCE CO COM 933132102 568,882.00 85,869 x 85,869
WALT DISNEY CO HOLDING CO COM 254687106 1,305,920.66 12,430 2 1 12,430
WALT DISNEY CO HOLDING CO COM 254687106 525,310.00 5,000 x 5,000
WANDEL & GOLTTERMANN TECH COM 933692105 1,959,255.00 130,075 x 130,075
WASTE MANAGEMENT INC NEW ( COM 94106K101 2,187,500.00 62,500 x 62,500
WASTE MANAGEMENT INTL PLC COM 940906100 2,041,781.00 187,750 x 187,750
WAYNE BANCORP INC-DEL COM 944291103 577,125.00 19,000 x 19,000
WCI STEEL ESCROW COM 92923J984 -- 115,000 x 115,000
WELLS FARGO CO COM 949740104 738,000.00 2,000 x 2,000
WELLSFORD REAL PROPERTIES COM 950240101 192,665.00 13,640 x 13,640
WESBANCO INC COM 950810101 470,581.00 17,510 x 17,510
WESTERN ATLAS COM 957674104 7,188,913.00 84,700 x 84,700
WESTERN RESOURCES INC COM 959425109 787,883.60 20,300 2 1 20,300
WESTERN RESOURCES INC COM 959425109 38,812.00 1,000 2 2 1,000
WEYCO GROUP INC. COM 962149100 805,303.00 30,825 x 30,825
WHEREHOUSE ENTERTAINMENT A COM 963281118 379,668.00 26,184 x 26,184
WHEREHOUSE ENTERTAINMENT I COM 963281100 253,232.00 14,896 x 14,896
WHITEHALL CORP COM 965010101 800,188.00 41,300 x 41,300
WHITMAN CORP COM 96647K102 1,052,808.30 45,900 2 1 45,900
WHITTAKER CORP NEW COM 966680407 297,131.00 22,425 x 22,425
WILLIAMS COMPANIES INC COM 969457100 513,000.00 15,200 x 15,200
WILLIAMS COMPANIES INC COM 969457100 891,000.00 26,400 2 1 26,400
WILLIAMS COMPANIES INC COM 969457100 249,750.00 7,400 2 2 7,400
WILLIAMS COMPANIES INC COM 969457100 337,500.00 10,000 x 10,000
WM WRIGLEY JR CO COM 982526105 882,000.00 9,000 2 2 9,000
WORKFLOW MANAGEMENT INC COM 98137N109 182,768.00 22,846 x 22,846
WRT CREDITORS LIQUIDATING COM 92931K965 -- 122,900 x 122,900
WRT ENERGY CORP WTS COM 92931K130 -- 12,000 x 12,000
WTS IGENE BIOTECHNOLOGY INC COM 451695142 2,628.28 131,414 2 1 131,414
XCELLENET INC COM 98388R106 4,619,878.00 206,475 x 206,475
XEROX CORP COM 984121103 487,800.00 4,800 2 1 4,800
XEROX CORP COM 984121103 508,125.00 5,000 x 5,000
XTRA CORP COM 984138107 2,135,650.00 35,300 x 35,300
YOUNG BROADCASTING INC-CL COM 987434107 1,599,000.00 24,600 x 24,600
ZAG INDUSTRIES LTD COM M9888A104 767,594.00 55,074 x 55,074
ZEIGLER COAL HOLDING CO COM 989286109 1,311,775.00 76,600 x 76,600
ZERO CORP COM 989484100 2,304,050.00 81,200 x 81,200
AMERITRUCK DIST CORP 12.25 FIXED 03071XAC9 3,857,000.00 66,500 x 66,500
BANK OF NEW ENGLAND NOTE 9 FIXED 063840AC6 967,763.00 29,550 x 29,550
CLARIDGE HOT & CASINO 11.7 FIXED 180476AA1 1,987,253.00 20,620 x 20,620
COLOR TILE INC SR NT 10.75 FIXED 196267AD0 192,313.00 153,850 x 153,850
CS WIRELESS SYS INC 0% (11 FIXED 22942TAE1 500,000.00 20,000 x 20,000
FAMILY RESTAURANTS 9.75% 2 FIXED 307054AA4 2,250,000.00 30,000 x 30,000
FARM FRESH INC SER A 12.25 FIXED 307669AE1 495,000.00 5,000 x 5,000
FIRST REPUB BK ESC 11.25% FIXED 3361609C2 -- 13,250 x 13,250
FPA MEDICAL MGMT 6.5% 12/1 FIXED 302543AD5 313,500.00 28,500 x 28,500
FRUEHAUF TRAILOR CORP 14.7 FIXED 359397AA4 2,154,680.00 25,960 x 25,960
HARRAHS JAZZ FINCL 14.25% FIXED 413623AA7 600,000.00 20,000 x 20,000
HOME HOLDINGS INC SR NT 7. FIXED 436934AB9 3,427,500.00 91,400 x 91,400
HOME HOLDINGS INC SR NT 8. FIXED 436934AA1 562,500.00 15,000 x 15,000
INTL SEMI TECH MICRO SR 11 FIXED 46031KAA9 300,000.00 10,000 x 10,000
JPS CAPITAL CORP CONT PYMT FIXED 46623KAA3 460,743.00 5,008 x 5,008
LEVITZ FURN CORP SR NT 13. FIXED 527480AJ6 201,250.00 2,500 x 2,500
LOMAS FINCL CORP NEW SR CV FIXED 5415359A0 206,250.00 27,500 x 27,500
LOUISIANA ST AG FIN AUTH 8 FIXED 546418AB0 12,188.00 15,000 x 15,000
MOBIL ENERGY SVC CO 8.665% FIXED 607358AA6 233,269.00 4,665 x 4,665
OLYMPIA YORK MAID LN 10.37 FIXED 681444AA3 2,016,000.00 26,880 x 26,880
P&C FOOD MKT SR NT 11.5% 1 FIXED 692766AE8 405,000.00 5,000 x 5,000
PLASMA & MATLS TECH 7.125% FIXED 72753MAA7 420,000.00 6,000 x 6,000
SELLCO CORP 12% 12/15/04 ( FIXED 81641KAA8 98,751.00 79,001 x 79,001
SHARON STEEL DEBS SF 13.5% FIXED 819785AB2 -- 17,500 x 17,500
SOUTHEAST BK CORP 10.5% 4/ FIXED 841338AD8 1,220,000.00 20,000 x 20,000
SPECIALTY FOODS ACQ CP 13% FIXED 847498AC6 555,000.00 15,000 x 15,000
SUNBEAM CORP CV 0% 3/25/18 FIXED 867071AA0 1,406,250.00 62,500 x 62,500
TRANS WORLD AIRLINE 8% 11/ FIXED 893349AV2 -- 10,000 x 10,000
TRUMPS CASTLE 11.75% 11/15 FIXED 898178AE8 423,725.00 4,484 x 4,484
US LEATHER INC SR 10.25% 7 FIXED 912134AA1 825,000.00 25,000 x 25,000
WIRELESS ONE INC SR 13% 10 FIXED 97652HAB5 400,000.00 20,000 x 20,000
WRT ENERGY CORP 13.875% 3/ FIXED 92931KAB2 -- 15,000 x 15,000
CANADIAN CURRENCY AUG 68 P PUT 6929519H1 7,800.00 20,000 x 20,000
CANADIAN CURRENCY JULY 068 PUT N/A 10,400.00 40,000 x 40,000
DEUTSCHE MARK CURRENCY DEC PUT N/A 44,375.00 31,250 x 31,250
--------------
REPORT TOTAL 948,661,658.48
==============
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