----------------------------
OMB APPROVAL
----------------------------
OMB Number:
Expires:
Estimated average burden
hours per response.....
----------------------------
SEC USE ONLY
----------------------------
----------------------------
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13f Cover Page
Report for the Calendar Year or Quarter Ended 9/30/99
If amended report check here: |_| Amendment Number: ____
This Amendment (Check only one): |_| is a restatement
|_| adds new holding
entries.
Loeb Arbitrage Management Inc.
- --------------------------------------------------------------------------------
Name of Institutional Investment Manager
61 Broadway New York N.Y. 10006
- --------------------------------------------------------------------------------
Business Address (Street) (City) (State) (Zip)
13F File Number: 28-_____________
The intitutional investment manager filing this report and the person by whom it
is signed hereby represent that the person signing the report is authorized to
submit it, that all information contained herein is true, correct and complete,
and that it is understood that all required items, statements, schedules, and
tables, are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Edward Campbell SR Vice Pres 212-483-7078
- --------------------------------------------------------------------------------
Name (Title) (Phone)
/s/ EDWARD CAMPBELL
------------------------------------------
(Manual Signature of Person Duly
Authorized to Submit This Report)
10/12/99 New York, N.Y.
------------------------------------------
(Place and Date of Signing)
Report Type:
[ ] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
<PAGE>
<TABLE>
<CAPTION>
LOEB ARBITRAGE MANAGEMENT
FORM 13F
SEPTEMBER 30, 1999
TITLE SHARES OF VOTING AUTHORITY
NAME OF ISSUER OF CUSIP VALUE PRINCIPAL SH/ PUT/ INVSTMT OTHER ---------------------------
CLASS NUMBER (x$1000) AMOUNT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
EMC CORP OCT 65 CALL CALL 26999W9J8 73 10,000 SOLE 10,000
EMC CORP OCT 70 CALL CALL 26999W9J8 38 10,000 SOLE 10,000
HAMBRECHT & QUIST NOV 45 C CALL 4065459K1 57 13,500 SOLE 13,500
LONE STARR INC OCT 40 CALL CALL 5422909J2 250 25,000 SOLE 25,000
RUSSELL 2000 INDEX OCT 440 CALL 1248359J0 90 49,500 SOLE 49,500
RUSSELL 2000 OCT 420 CALL CALL 12483595JO 115 10,000 SOLE 10,000
RUSSELL 2000 OCT 425 CALL CALL 1248359JO 81 10,000 SOLE 10,000
RUSSELL 2000 OCT 435 CALL CALL 1248359JO 49 15,000 SOLE 15,000
AAVID THERMAL TECHNOLOGIES COM 002539104 2,375 105,554 SOLE 105,554
ABACUS DIRECT CORP COM 002553105 7,812 64,100 SOLE 64,100
ACKERLEY GROUP INC (FORMERLY A COM 004527107 67 4000 SH Defined 01 4000
ACKERLEY GROUP INC (FORMERLY A COM 004527107 202 12100 SH Sole 12100
ADELPHIA COMMUNICATIONS CORP C COM 006848105 164 3000 SH Sole 3000
ADELPHIA COMMUNICATIONS CORP C COM 006848105 407 7453 SH Defined 01 7453
ADVANCED TECHNICAL PRODUCT COM 007548100 614 45,700 SOLE 45,700
AERIAL COMMUNICATIONS INC COM 007655103 1,066 39,400 SOLE 39,400
AEROSONIC CORP DEL NEW COM 008015307 278 21,200 SOLE 21,200
AEROSPACE CREDITORS LIQD T COM 008017105 0 80,000 SOLE 80,000
AFC CABLE SYSTEMS INC COM 000950105 9,573 225,575 SOLE 225,575
AFLAC INC COM 001055102 1022 19994 SH Defined 01 19994
AIRPORT SYSTEMS INTL INC COM 00949N103 100 42,300 SOLE 42,300
ALCIDE CORP NEW COM 013742507 291 25068 SH Defined 01 02 296 24772
ALIGN-RITE INTL INC COM 016251100 358 19,100 SOLE 19,100
ALLMERICA FINANCIAL CORP COM 019754100 229 4000 SH Defined 01 4000
ALLTEL CORP COM 020039103 591 7099 SH Defined 01 02 4000 3099
ALZA CORP COM 022615108 9,183 214,500 SOLE 214,500
AMC FINANCIAL INC COM 001642107 198 46,529 SOLE 46,529
AMERICA SERVICE GROUP INC COM 02364L109 941 69,700 SOLE 69,700
AMERICAN BANCSHARES INC FL COM 02408H106 282 22,000 SOLE 22,000
AMERICAN BLIND COM NOT AVAIL 35 35,200 SOLE 35,200
AMERICAN COMMUNICATIONS & COM 025201104 0 20000 SH Defined 01 20000
AMERICAN EXPRESS COMPANY COM 025816109 208 1350 SH Defined 01 300 1050
AMERICAN HEALTH PROPERTIES COM 026494104 294 14,600 SOLE 14,600
AMERICAN HERITAGE LIFE INV COM 026522102 3,493 110,000 SOLE 110,000
AMERICAN INDEMINITY CORP E COM 026759993 17 17,300 SOLE 17,300
AMERICAN INTERNATIONAL GRO COM 026874107 0 252,551 SOLE 252,551
AMERICAN INTERNATIONAL GROUP I COM 026874107 4641 45086 SH Defined 01 45086
AMERICAN INTL GRP RSTD COM 026874107 0 10,978 SOLE 10,978
AMERICAN MED ELECTRONICS S COM 027425891 0 124,900 SOLE 124,900
AMERICAN MED ELECTRONICS S COM 027425958 0 124,900 SOLE 124,900
AMERICAN PACIFIC CORP COM 028740108 657 83,400 SOLE 83,400
AMERITECH CORP NEW COM 030954101 9,964 148,300 SOLE 148,300
AMFM INC COM 001693100 406 5800 SH Defined 01 02 4000 1800
AMGEN INC W/RTS TO PUR COM STK COM 031162100 501 6280 SH Defined 01 02 5880 400
ANB CORP COM 001926104 1,835 53,564 SOLE 53,564
ANTHONY & SYLVAN POOLS COR COM 036762102 193 32,798 SOLE 32,798
APPLIED DIGITAL ACCESS INC COM 038181103 1,814 351,900 SOLE 351,900
APPLIED MATERIALS INC COM 038222105 381 4244 SH Defined 01 02 3644 600
AQUARION CO COM 03838W101 1,614 45,000 SOLE 45,000
ARLEN CORP COM 041327107 0 10500 SH Defined 01 10500
ARMCO INC COM 042170100 5,846 836,300 SOLE 836,300
ASAHI/AMERICA INC COM 04338D106 418 48,800 SOLE 48,800
ASARCO COM 043413103 5,805 216,500 SOLE 216,500
ASECO CORP COM 043659101 104 33,400 SOLE 33,400
ASSOCAITED GROUP CL A COM 045651106 2,714 45,000 SOLE 45,000
ASSOCIATED GROUP CL B COM 045651205 5,143 85,000 SOLE 85,000
ASSOCIATED GROUP INC-CL B COM 045651205 340 5000 SH Sole 5000
ASSOCIATES FIRST CAPITAL CORP COM 046008108 985 27000 SH Defined 01 02 16400 10600
ASTROSYSTEMS INC NY COM 046465100 226 82,213 SOLE 82,213
AT&T CORP COM 001957109 693 14814 SH Defined 01 02 6900 7914
AT&T CORP LIBERTY MEDIA GROUP COM 001957208 794 20000 SH Sole 20000
AT&T CORP LIBERTY MEDIA GROUP COM 001957208 10895 274508 SH Defined 01 02 38032 236476
ATLANTIC RICHFIELD CO COM 048825103 3,988 45,000 SOLE 45,000
ATLAS STEELS INC UTS 100 B COM NOT AVAIL 895 20,808 SOLE 20,808
AURORA BIOSCIENCES CORP COM 051920106 577 46850 SH Defined 01 46850
AVALONBAY COMMUNITIES INC COM 053484101 267 8250 SH Defined 01 8250
AVANT IMMUNOTHERAPEUTICS I COM 053491114 0 15,509 SOLE 15,509
AVCOM INTERNATIONAL INC ES COM 053543997 2 32,100 SOLE 32,100
AXA FINL INC COM 002451102 988 30800 SH Defined 01 02 13000 17800
AXSYS TECHNOLOGIES INC COM 054615109 1,418 143,634 SOLE 143,634
AZTEC TECHNOLOGY PARTNERS COM 05480L101 59 34,271 SOLE 34,271
BANK OF AMER CORP COM 060505104 562 8728 SH Defined 01 8728
BANK OF NEW YORK CO INC COM 064057102 10289 245716 SH Defined 01 02 191716 54000
BANK ONE CORP COM 06423a103 440 11719 SH Defined 01 02 4000 7719
BANKBOSTON CORP COM 06605R106 3,622 83,500 SOLE 83,500
BANKNORTH GROUP INC NEW-DE COM 06646L100 315 10,600 SOLE 10,600
BAXTER INTERNATIONAL INC COM 071813109 318 4900 SH Defined 01 02 2200 2700
BAXTER INTL INC CONT PYMT COM 071813125 13 180,931 SOLE 180,931
BEC ENERGY COM COM 05534b109 874 14500 SH Defined 01 02 10600 3900
BECTON DICKINSON & CO COM 075887109 355 14000 SH Defined 01 02 12800 1200
BELL ATLANTIC CORP COM 077853109 294 4524 SH Defined 01 4524
BELL ATLANTIC CORP COM 077853109 649 10000 SH Sole 10000
BELLSOUTH CORP COM 079860102 259 5760 SH Defined 01 5760
BERKSHIRE REALTY CO INC COM 084710102 2,942 245,200 SOLE 245,200
BESTFOODS COM 08658u101 423 7200 SH Defined 02 7200
BF REALTY HOLDINGS LTD COM 05540l109 0 32000 SH Defined 01 32000
BOC GROUP PLC SPD ADR COM 055617609 2,606 62,600 SOLE 62,600
BORDEN CHEMICALS & PLASTIC COM 099541203 213 52,500 SOLE 52,500
BP AMOCO P L C SPONSORED ADR COM 055622104 2338 40482 SH Defined 01 02 37310 3172
BRANDYWINE REALTY TRUST-SBI NE COM 105368203 202 12000 SH Defined 01 1300 10700
BRISTOL MYERS SQUIBB CO COM 110122108 3564 46400 SH Defined 01 02 12800 33600
BRT REALTY TRUST SBI-NEW COM 055645303 127 16000 SH Sole 16000
BRT REALTY TRUST SBI-NEW COM 055645303 328 41300 SH Defined 01 02 4000 37300
BUILDING ONE SERVICES CORP COM 120114103 781 64,058 SOLE 64,058
BURLINGTON MOTOR CARRIERS COM 121866206 214 268 SOLE 268
BURLINGTON RESOURCES INC COM 122014103 284 8152 SH Defined 01 02 4586 3566
C2 INC COM 126948108 849 151,010 SOLE 151,010
CABLETRON SYSTEMS INC. COM 126920107 157 10,000 SOLE 10,000
CABLEVISION SYSTEMS CORP-CL A COM 12686c109 338 5000 SH Sole 5000
CADILLAC FAIRVIEW CORP (cd COM 126929207 433 20,053 SOLE 20,053
CADILLAC FAIRVIEW CORP WTS COM 126929116 141 17,641 SOLE 17,641
CAMCO FINANCIAL CORP COM 132618109 459 44,754 SOLE 44,754
CANADIAN OCCIDENTAL PETROL COM 136420106 1,144 62,700 SOLE 62,700
CARDIOTHORACIC STYSTEMS IN COM 141907105 844 50,400 SOLE 50,400
CARTER WALLACE INC COM 146285101 536 30,000 SOLE 30,000
CASE CORP COM 14743R103 4,234 85,000 SOLE 85,000
CBS CORP COM 12490k107 2650 54282 SH Defined 01 02 5800 48482
CCC INFORMATION SERVICES GROUP COM 12487q109 385 35000 SH Sole 35000
CCC INFORMATION SERVICES GROUP COM 12487q109 1207 109733 SH Defined 01 800 108933
CELADON GROUP INC INC COM 150838100 590 78,300 SOLE 78,300
CENTENNIAL HEALTHCARE CORP COM 150937100 369 128,450 SOLE 128,450
CENTOCOR INC COM 152342101 11,169 190,925 SOLE 190,925
CENTRAL BANKING SYSTEMS IN COM 152609103 0 206,296 SOLE 206,296
CENTRAL REALTY INVESTORS INC COM 155052103 0 13000 SH Defined 01 13000
CENTURY COMMUNICATIONS COR COM 156503104 7,815 174,400 SOLE 174,400
CENTURY TELEPHONE COM 156700106 404 10000 SH Sole 10000
CHAMPS ENTERTAINMENT INC COM 158787101 529 214,300 SOLE 214,300
CHARTER FEDERAL SAVINGS BA COM 161223987 6 92,230 SOLE 92,230
CHARTWELL RE CORP COM 16139W109 1,415 98,000 SOLE 98,000
CHASE MANHATTAN CORP NEW COM 16161a108 713 8156 SH Defined 01 02 1306 6850
CHAUVCO RESOURCES INTL LTD COM G19472102 0 133,256 SOLE 133,256
CHESAPEAKE ENERGY CORP COM 165167107 91 25000 SH Defined 01 25000
CHEVRON CORP COM 166751107 749 8200 SH Defined 01 02 7000 1200
CHICAGO TITLE CORP (ctz) COM 168228104 2,656 66,500 SOLE 66,500
CHOCK FULL OF NUTS CORP COM 170268106 5,683 522,600 SOLE 522,600
CHRIS-CRAFT INDUSTRIES INC COM 170520100 418 5995 SH Defined 02 5995
CHRONIMED INC COM 171164106 465 58,100 SOLE 58,100
CHUBB CORP COM 171232101 359 6540 SH Defined 01 494 6046
CILCORP INC COM 171794100 1,685 26,000 SOLE 26,000
CINCINNATI BELL INC-W/RTS TO COM 171870108 177 8500 SH Defined 02 8500
CINCINNATI BELL INC-W/RTS TO COM 171870108 208 10000 SH Sole 10000
CISCO SYSTEMS INC COM 17275r102 740 10000 SH Sole 10000
CISCO SYSTEMS INC COM 17275r102 2729 36874 SH Defined 01 02 6000 30874
CITATION COMPUTER SYSTEMS COM 172894107 43 24,500 SOLE 24,500
CITIGROUP INC COM 172967101 541 10000 SH Sole 10000
CITIGROUP INC COM 172967101 4472 82615 SH Defined 01 02 62848 19767
CITIZENS UTILITIES CO SER B COM 177342201 583 50451 SH Sole 50451
CITIZENS UTILITIES CO SER B COM 177342201 3731 322699 SH Defined 01 02 84234 238465
CLEAR CHANNEL COMMUNICATIONS I COM 184502102 225 2800 SH Defined 01 2800
CLEAR CHANNEL COMMUNICATIONS I COM 184502102 804 10000 SH Sole 10000
CLEVELAND INDIANS BASEBALL COM 186202107 1,764 98,691 SOLE 98,691
CLOROX CO COM 189054109 811 19800 SH Defined 01 02 6300 13500
CMP GROUP COM 125887109 528 20,000 SOLE 20,000
CMS ENERGY CORP CL G COM 125896209 1,253 53,300 SOLE 53,300
CNB BANCSHARES INC (bnk) COM 126126101 535 10,100 SOLE 10,100
COAST FEDERAL LITIG RTS COM 19034Q110 154 154,300 SOLE 154,300
COASTAL CORP COM 190441105 421 10000 SH Sole 10000
COGENERATION CORP OF AMERI COM 19238M105 1,481 62,200 SOLE 62,200
COLEMAN CO COM 193559101 1,638 171,300 SOLE 171,300
COLGATE PALMOLIVE COM 196162103 229 5,000 SOLE 5,000
COLUMBIA ENERGY GROUP COM 197648108 1,938 35,000 SOLE 35,000
COLUMBIAN NORTHLAND EXPL COM 198675100 0 27300 SH Sole 27300
COMCAST CORP-CL A COM 200300101 118 3100 SH Defined 01 3100
COMCAST CORP-CL A COM 200300101 380 10000 SH Sole 10000
COMDISCO INC COM 200336105 162 8000 SH Defined 01 8000
COMDISCO INC COM 200336105 202 10000 SH Sole 10000
COMERICA INC COM 200340107 339 5700 SH Defined 01 5700
COMMNET CELLULAR INC COM 202604104 1,381 44,200 SOLE 44,200
COMSAT SERIES 1 COM 20564D107 936 31,579 SOLE 31,579
CONNECTICUT ENERGY CORP COM 207567108 2,255 58,300 SOLE 58,300
CONOCO INC CL B COM 208251405 2,639 96,404 SOLE 96,404
CONSOLIDATED NATURAL GAS C COM 209615103 6,967 111,700 SOLE 111,700
CONSUMERS FINANCIAL CORP COM 210520102 2 25,768 SOLE 25,768
CORNING INC COM 219350105 786 10000 SH Sole 10000
CORPORATE EXPRESS INC (cex COM 219888104 3,802 405,500 SOLE 405,500
CORT BUSINESS SERVICE CORP COM 220493100 247 10,700 SOLE 10,700
COX COMMUNICATIONS INC NEW CL COM 224044107 454 10000 SH Sole 10000
CPI CORP COM 125902106 1,470 43,000 SOLE 43,000
CSF HOLDINGS ESCROW COM 126335991 3 27,350 SOLE 27,350
CTG RESOURCES INC COM 125957100 7,821 221,100 SOLE 221,100
CYPRUS AMAX MINERALS CO COM 232809103 3,735 190,300 SOLE 190,300
DATA GENERAL CORP COM NOT AVAIL 6,424 305,000 SOLE 305,000
DATA TRANSMISSION NETWORK COM 238017107 1,940 77,615 SOLE 77,615
DBL LIQUIDATING TRUST (dbl COM 233038108 0 13,000 SOLE 13,000
DEAN FOODS CO COM 242361103 370 8000 SH Sole 8000
DELTA & PINE LAND CO COM 247357106 7,286 281,600 SOLE 281,600
DESTIA COMMUNICATION INC COM 25063E100 1,889 151,900 SOLE 151,900
DIATIDE INC COM 252842109 1,480 160,000 SOLE 160,000
DIGITAL LINK CORP COM 253856108 1,106 110,930 SOLE 110,930
DIME BANCORP INC NEW COM 25429q102 840 47000 SH Defined 01 1000 46000
DIME BANKCORP NEW COM 25429Q102 683 39,000 SOLE 39,000
DOW JONES & CO INC COM 260561105 615 10000 SH Defined 01 02 8500 1500
DUN & BRADSTREET CORP DEL COM 26483b106 726 24712 SH Defined 01 02 14412 10300
DYNASTY CLASSICS COM 268127107 0 14,415 SOLE 14,415
EAGLE BANCGROUP INC COM 26941T103 1,667 66,500 SOLE 66,500
EARTHLINK NETWORK INC COM 270322100 429 10,000 SOLE 10,000
EASTERN ENTERPRISES INC COM 27637F100 14,351 309,041 SOLE 309,041
EBS BUILDING LLC RSTD CL A COM NOT AVAIL 689 290,113 SOLE 290,113
EBS LITIGATION LLC RSTD CL COM NOT AVAIL 171 778,382 SOLE 778,382
EBS PENSION LLC RSTD CL A COM NOT AVAIL 313 783,461 SOLE 783,461
EDIFY CORP COM 280599101 3,200 261,200 SOLE 261,200
EDISON INTERNATIONAL COM 281020107 250 8443 SH Defined 01 02 5800 2643
EL PASO ENERGY CORP COM 283905107 725 17682 SH Defined 01 02 12000 5682
ELF AQUITAINE - SPONS ADR COM 286269105 12,553 137,000 SOLE 137,000
ELSCINT LTD ORD NEW COM M40168102 503 63,900 SOLE 63,900
EMC CORP-MASS COM 268648102 730 10000 SH Sole 10000
EMC CORP-MASS COM 268648102 2146 29400 SH Defined 01 02 19400 10000
EMMIS COMMUNICATIONS CORP-CL A COM 291525103 361 5000 SH Defined 01 02 3000 2000
END OF THE ROAD TRUST CL A COM 292567104 900 450,092 SOLE 450,092
ENERGYNORTH INC COM 292925104 1,399 33,700 SOLE 33,700
ENEX RESOURCES COM 292744208 41 19,363 SOLE 19,363
EQK REALTY INVESTORS 1 SBI COM 268820107 3 21100 SH Defined 01 21100
EQUITY RESIDENTIAL PPTYS T COM 29476L883 1,210 49,900 SOLE 49,900
ESKIMO PIE CORP COM 296443104 706 73,368 SOLE 73,368
EVEREN CAPITAL CORP COM 299761106 5,168 175,200 SOLE 175,200
EXCEL SWITCHING CORP COM 30067V108 2,536 70,800 SOLE 70,800
EXXON CORP COM 302290101 524 7072 SH Defined 01 02 5200 1872
EXXON CORP COM 302290101 8,019 105,600 SOLE 105,600
F&M BANCORPORATION INC WIS COM 302371109 633 18,400 SOLE 18,400
FAIRCHILD CORP CL A COM 303698104 386 37,663 SOLE 37,663
FANNIE MAE COM 313586109 686 9700 SH Defined 01 02 1500 8200
FINANCIAL FEDERAL CORP COM 317492106 1447 67314 SH Defined 01 1050 66264
FIRST AMERICAN CORP TENN ( COM 318900107 9,364 218,400 SOLE 218,400
FIRST COMMONWEALTH FINC'L COM 319829107 1,001 38,500 SOLE 38,500
FIRST LIBERTY FINANCIAL CO COM 320691108 4,118 151,132 SOLE 151,132
FIRST REPUBLIC BANCORP INC COM 336158100 290 11606 SH Defined 01 11606
FIRST SECURITY CORP DEL COM 336294103 318 13,400 SOLE 13,400
FIRST SENTINEL BANCORP INC COM 33640T103 322 40,915 SOLE 40,915
FIRSTAR CORP WIS-NEW COM 33763v109 317 10800 SH Defined 01 10800
FOAMEX INTERNATIONAL INC COM 344123104 389 56,525 SOLE 56,525
FRANCHISE MORTGAGE ACCEPTA COM 35181D108 669 94,300 SOLE 94,300
FRESNIUS MED CARE HDLGS PF COM 358030203 0 225,600 SOLE 225,600
FUISZ TECHNOLOGIES LTD COM 359336109 1,708 269,247 SOLE 269,247
FULTON BANCORP INC COM 359894102 573 30,964 SOLE 30,964
FURON CO COM 361106107 3,242 130,000 SOLE 130,000
GANNETT CO INC COM 364730101 247 3200 SH Defined 02 3200
GEMSTAR INTERNATIONAL GROUP LT COM g3788v106 695 8000 SH Sole 8000
GEMSTAR INTERNATIONAL GROUP LT COM g3788v106 1042 12000 SH Defined 01 12000
GENERAL ELECTRIC CO COM 369604103 2549 18800 SH Defined 01 02 1300 17500
GENERAL HOUSEWARES CORP COM 370073108 3,230 115,100 SOLE 115,100
GENERAL INSTRUMENT CORP NE COM 370120107 6,738 140,000 SOLE 140,000
GENERAL INSTRUMENT CORP-DEL COM 370120107 215 4000 SH Defined 01 4000
GENERAL MOTORS CL H COM 370442832 961 16,788 SOLE 16,788
GENERAL MOTORS CORP CL H COM 370442832 2406 33050 SH Defined 01 02 9050 24000
GENERAL SURGICAL INNOVATIO COM 371013103 1,650 240,000 SOLE 240,000
GENESYS TELECOMMUNICATIONS COM 371931106 3,011 66,000 SOLE 66,000
GEOSCIENCE CORP COM 373636109 378 56,000 SOLE 56,000
GIBRALAR STEEL CORP COM 37476F103 519 24,400 SOLE 24,400
GILLETTE CO COM 375766102 385 10644 SH Defined 01 02 4400 6244
GLOBAL CROSSING LTD COM g3921a100 277 8000 SH Sole 8000
GLOBAL CROSSING LTD COM G3921A100 16,188 612,268 SOLE 612,268
GLOBAL INDUSTRIAL TECHNOLO COM 379335102 4,392 360,400 SOLE 360,400
GLOBAL TELESYSTEMS GROUP INC COM 37936u104 239 10000 SH Sole 10000
GOLDEN BOOKS FNCL TR 8.75% COM 38080R400 490 98,000 SOLE 98,000
GOLDEN STATE BANCORP WTS COM 381197136 225 184,239 SOLE 184,239
GP STRATEGIES CORP (gpx) COM 36225V104 225 20,000 SOLE 20,000
GREEN MOUNTAIN POWER CORP COM 393154109 368 35,500 SOLE 35,500
GREEN STREET FINANCIAL COR COM 393415104 594 40,300 SOLE 40,300
GROW BIZ INTL INC COM 399817105 74 24,700 SOLE 24,700
GTE CORP COM 362320103 1910 25462 SH Defined 01 02 5762 19700
GUARANTEE LIFE COMPANIES I COM 400740106 1,699 55,700 SOLE 55,700
GULFMARK INTERNATIONAL INC COM 402629109 703 45380 SH Defined 01 02 7600 37780
GULFPORT ENERGY NEW COM 402635304 79 34,967 SOLE 34,967
HALLIBURTON CO COM 406216101 302 8000 SH Defined 01 8000
HALTER MARINE GROUP INC COM 40642Y102 1,683 309,500 SOLE 309,500
HANNAFORD BROS CO COM 410550107 11,566 164,200 SOLE 164,200
HARCOURT GENERAL INC COM 41163g101 308 8000 SH Sole 8000
HARCOURT GENERAL INC COM 41163g101 385 10000 SH Defined 01 10000
HARMONIC INC COM 413160102 261 4400 SH Defined 02 4400
HCIA CORP COM 403908106 464 45,000 SOLE 45,000
HERLEY INDUSTRY INC DEL WT COM 427398128 153 48,800 SOLE 48,800
HEWLETT PACKARD CO COM 428236103 630 8500 SH Defined 01 02 3500 5000
HIBERNIA CORP-CL A COM 428656102 637 54,755 SOLE 54,755
HILLS STORE COMPANY CONT R COM 431COM991 0 500,000 SOLE 500,000
HILLS STORES CO EXCH/TENDE COM 431COM991 0 2,250,000 SOLE 2,250,000
HOLLINGER INTERNATIONAL INC CL COM 435569108 176 17000 SH Defined 01 02 12000 5000
HOLLY CORP NEW COM 435758305 188 12,500 SOLE 12,500
HOLLYWOOD PARK (hpk) COM 436255103 245 15,926 SOLE 15,926
HOME DEPOT INC COM 437076102 797 10550 SH Defined 01 02 4000 6550
HONEYWELL INC COM 438506107 16,775 150,700 SOLE 150,700
HORACE MANN EDUCATORS COM 440327104 1,835 71,100 SOLE 71,100
HOST MARRIOTT CORP-NEW REIT COM 44107p104 353 39217 SH Defined 01 02 4348 34869
HOUSEHOLD INTERNATIONAL INC COM 441815107 321 7200 SH Defined 01 7200
IMALL INC NEW COM 42244X306 2,279 123,200 SOLE 123,200
IMPCO TECHNOLOGIES INC COM 45255W106 2,180 171,000 SOLE 171,000
IMPERIAL CREDIT COMM MTG I COM 45272T102 1,998 183,700 SOLE 183,700
IMPERIAL SUGAR CO NEW COM 453096109 269 43,986 SOLE 43,986
IMS HEALTH INC COM 449934108 1039 35824 SH Defined 01 02 28824 7000
INCO LTD CL VBN (VOYSEY BA COM 453258709 418 52,400 SOLE 52,400
INDEPENDENCE COMMUNITY BAN COM 453414104 714 59,800 SOLE 59,800
INNOVATIVE CLINICAL SOLUTI COM 45767E107 104 150,800 SOLE 150,800
INSITUFORM EAST INC COM 457662104 38 23,300 SOLE 23,300
INSTRON CORP COM 457776102 959 43,600 SOLE 43,600
INSURANCE AUTO AUCTIONS IN COM 457875102 283 19,500 SOLE 19,500
INTEL CORP COM 458140100 19 250 SH Defined 01 250
INTEL CORP COM 458140100 774 10000 SH Sole 10000
INTERLINQ SOFTWARE CORP COM 458753100 305 90,225 SOLE 90,225
INTERMAGNETICS GENERAL CORP COM 458771102 95 16112 SH Defined 01 16112
INTERNATIONAL BUSINESS MACHINE COM 459200101 1669 16968 SH Defined 01 02 4944 12024
INTERNATIONAL NETWORK SERV COM 460053101 5,958 109,700 SOLE 109,700
INTERNET TECHNOLOGY ORD 20 COM GB0004641 420 125,000 SOLE 125,000
INTERPUBLIC GROUP OF COS INC COM 460690100 406 10000 SH Sole 10000
INTERPUBLIC GROUP OF COS INC COM 460690100 475 11696 SH Defined 01 11696
INTL INTERGRATION INC COM 459698106 342 10,300 SOLE 10,300
INTL TELECOMMUNICATIONS DA COM 46047F104 1,381 163,700 SOLE 163,700
ITC DELTACOM INC COM 45031t104 144 6000 SH Defined 01 6000
ITC DELTACOM INC COM 45031t104 240 10000 SH Sole 10000
IXC COMMUNICATIONS INC COM 450713102 2,335 59,500 SOLE 59,500
JEFFBANKS INC COM 472317106 2,387 83,200 SOLE 83,200
JLG INDUSTRIES INC COM 466210101 153 10,100 SOLE 10,100
JOHN HANCOCK BANK & THRIFT OPP COM 409735107 532 56000 SH Defined 01 56000
JOHNSON & JOHNSON COM 478160104 3593 34300 SH Defined 01 02 8400 25900
JONES INTERCABLE INC COM 480206101 262 5000 SH Sole 5000
JONES INTERCABLE INC COM 480206101 1,637 30,750 SOLE 30,750
JONES INTERCABLE INC CL A COM 480206200 13,151 243,544 SOLE 243,544
JUNO LIGHTING INC (juno) COM 482047206 317 27,301 SOLE 27,301
KANSAS CITY POWER & LIGHT COM 485134100 3,802 157,200 SOLE 157,200
KANSAS CITY SO COM 485170104 237 5000 SH Defined 02 5000
KDI CORP-CONTINGENT PMT UNIT COM 482452307 0 149500 SH Sole 149500
KEYCORP NEW (key) COM 493267108 465 18,028 SOLE 18,028
KIMBERLY CLARK CORP COM 494368103 311 5,928 SOLE 5,928
KINDER MORGAN INC KANS COM 49455p101 241 12000 SH Defined 01 02 10650 1350
KING WORLD PRODUCTIONS COM 495667107 9,113 243,000 SOLE 243,000
KKREISLER MANUFACTURING CO COM 500773106 251 30,417 SOLE 30,417
KNOLL INC COM 498904101 1,747 65,000 SOLE 65,000
KTI INC NEW COM 482689205 821 105,100 SOLE 105,100
LABONE INC NEW COM 50540L105 614 65,486 SOLE 65,486
LABORATORY CORP AMER WTS 4 COM 50540R110 0 21,445 SOLE 21,445
LABORATORY CORP OF AMERICA COM 50540r201 58 1000 SH Defined 01 1000
LABORATORY CORP OF AMERICA COM 50540r201 174 3000 SH Sole 3000
LABORATORY CORP OF AMERICA COM 50540R201 495 8,835 SOLE 8,835
LABORATORY CORP OF AMERICA HOL COM 50540r102 30 10000 SH Sole 10000
LADD FURNITURE INC NEW COM 505739201 265 12,500 SOLE 12,500
LAKE ARIEL BANCORP INC COM 507467108 426 27,240 SOLE 27,240
LANDSING PACIFIC FUND COM 515096105 0.818 81,850 SOLE 81,850
LEGAL & GENERAL GP ORD 2.5 COM G54404127 60 21,200 SOLE 21,200
LEXFORD RESIDENTIAL TRUST COM 528933104 2,274 115,500 SOLE 115,500
LIFE TECHNOLOGIES INC NEW COM 532177201 521 13,356 SOLE 13,356
LIFE USA HOLDING INC NEW COM 531918209 1,250 60,600 SOLE 60,600
LIFELINE SYSTEMS INC COM 532192101 1,734 121,675 SOLE 121,675
LIFEPOINT HOSPITALS INC COM 53219L109 89 10,203 SOLE 10,203
LITCHFIELD FINANCIAL CORP COM 536619109 3,000 125,000 SOLE 125,000
LITTLE SWITZERLAND INC COM 537528101 53 130,900 SOLE 130,900
LONE STAR IND WTS (lce') COM 542290119 808 10,000 SOLE 10,000
LONE STAR INDUSTRIES INC. COM 542290508 2,743 55,000 SOLE 55,000
LONE STAR LIQUIDATING TRUS COM 54229R102 1,225 9,802,855 SOLE 9,802,855
LONG BEACH FINANCIAL CORP COM 542446109 1,087 68,500 SOLE 68,500
LOWRANCE ELECTRONICS INC COM 548900109 1,257 174,900 SOLE 174,900
LUCENT TECHNOLOGIES INC COM 549463107 943 14670 SH Defined 01 02 5256 9414
M & T BANK CORP (mtb) COM 55261F104 252 550 SOLE 550
MACMILLAN BLOEDEL LTD COM 554783209 3,541 226,600 SOLE 226,600
MAHONING NATIONAL BANCORP COM 560090102 2,183 56,328 SOLE 56,328
MANUGISTICS GROUP INC COM 565011103 505 48,400 SOLE 48,400
MARSHALL INDUSTRIES COM 572393106 745 20,400 SOLE 20,400
MATLACK SYSTEMS INC COM 576901102 302 61,100 SOLE 61,100
MATRIX BANCORP INC COM 576819106 681 57,974 SOLE 57,974
MATTEL INC COM 577081102 841 44,238 SOLE 44,238
MAXXIM MEDICAL INC COM 57777G105 3,416 142,700 SOLE 142,700
MBO PROPERTIES INC (mbopq) COM 55263L109 361 360,857 SOLE 360,857
MCDONALDS CORP COM 580135101 718 17400 SH Defined 01 02 4400 13000
MCI WORLDCOM INC COM 55268b106 104 1208 SH Defined 01 1208
MCI WORLDCOM INC COM 55268b106 1287 15000 SH Sole 15000
MEDE AMERICA CORP COM 584067102 1,445 64,200 SOLE 64,200
MEDIAONE GROUP INC COM 58440j104 1491 20980 SH Defined 01 02 6000 14980
MEDIAONE GROUP INC (umg) COM 58440J104 16,552 242,300 SOLE 242,300
MEDICAL RESOURCES INC-NEW COM 58461Q409 14 10,666 SOLE 10,666
MEDIWARE INFORMATION SYSTE COM 584946107 450 57,200 SOLE 57,200
MELLON FINL CORP COM 58551a108 178 5000 SH Sole 5000
MELLON FINL CORP COM 58551a108 221 6200 SH Defined 01 6200
MELLON FINL CORP COM 58551a108 369 10000 SH Sole 10000
MELLON FINL CORP COM 58551a108 650 17600 SH Defined 01 02 10000 7600
MERCHANTS BANCORP INC-DEL COM 588438101 887 30,000 SOLE 30,000
MERCK & CO INC COM 589331107 740 9300 SH Defined 01 02 9200 100
MERIDIAN MEDICAL TECHNOLOG COM 589658103 120 22,350 SOLE 22,350
MERIDIAN RESOURCE CORP (TH COM 58977Q109 148 31,106 SOLE 31,106
MERISTAR HOTELS & RESORTS COM 589988104 204 69,600 SOLE 69,600
MERIT HOLDING CORP COM 589964105 1,433 62,822 SOLE 62,822
MERRILL LYNCH & CO INC COM 590188108 3,064 45,600 SOLE 45,600
METRIKA SYSTEMS CORP COM 59159M106 677 117,700 SOLE 117,700
METROCALL INC RTS COM 591647110 0 67,749 SOLE 67,749
MGI PROPERTY (mgi) COM 552885105 1,917 213,000 SOLE 213,000
MICHAEL FOODS INC NEW COM 594079105 1,744 66,600 SOLE 66,600
MICROS TO MAINFRAMES INC COM 594944100 168 61,135 SOLE 61,135
MICROSOFT CORP COM 594918104 1155 12480 SH Defined 01 02 10100 2380
MILESTONE PROPERTIES INC ( COM 599358108 635 195,439 SOLE 195,439
MOBIL CORP COM 607059102 429 4448 SH Defined 01 02 2840 1608
MONSANTO CO COM 611662107 212 5500 SH Defined 02 01 5000 500
MOORE MEDICAL CORP COM 615799103 266 35,200 SOLE 35,200
MOTIVEPOWER INDUSTRIES INC COM 61980K101 330 30,000 SOLE 30,000
MOTOROLA INC COM 620076109 974 10000 SH Sole 10000
MYLEX CORP COM 628546103 2,796 233,000 SOLE 233,000
NABISCO GROUP HOLDINGS COR COM 62952P102 714 47,600 SOLE 47,600
NALCO CHEM COM 629853102 6,338 125,500 SOLE 125,500
NATIONAL WESTMINSTER BANK COM 638539403 930 6,694 SOLE 6,694
NAVIGANT CONSULTING INC COM 63935N107 4,869 105,000 SOLE 105,000
NEOPATH INC COM 640517108 492 102,300 SOLE 102,300
NESTLE SA-SPONSORED ADR REPSTG COM 641069406 1563 16200 SH Defined 01 02 9700 6500
NETGRAVITY INC (netg) COM 641114103 2,468 74,500 SOLE 74,500
NEW PLAN EXCEL REALTY TRUST IN COM 648053106 202 11650 SH Defined 01 11650
NEWCOURT CREDIT GROUP INC COM 650905102 1,084 83,000 SOLE 83,000
NEWPARK RESOURCES INC NEW COM 651718504 64 10000 SH Defined 02 10000
NEWPARK RESOURCES INC NEW COM 651718504 1,648 212,600 SOLE 212,600
NEWS CORP LTD-SPONSORED ADR RE COM 652487802 276 10000 SH Sole 10000
NEWS CORP LTD-SPONSORED ADR RE COM 652487802 331 12000 SH Defined 01 02 10000 2000
NEXTLINK COMMUNICATIONS INC CL COM 65333h707 299 5000 SH Sole 5000
NICHOLS RESEARCH CORP COM 653818104 4,133 156,700 SOLE 156,700
NIELSEN MEDIA RESEARCH COM 653929109 6,248 168,000 SOLE 168,000
NOBEL INSURANCE LTD COM 654885102 123 163,612 SOLE 163,612
NOBEL LEARNING COMMUNITIES COM 654889104 141 24,340 SOLE 24,340
NOEL GROUP INC COM 655260107 139 247,800 SOLE 247,800
NOEL GROUP INC UNIT BEN IN COM 655260305 99 247,800 SOLE 247,800
NOMAS CORP NEV COM 65531N100 70 26,819 SOLE 26,819
NOMAS CORP NEW PFD SER A COM 65531N209 70 26,819 SOLE 26,819
NORTH AMERICAN BANK & TRUST CO COM 656751104 35 10000 SH Defined 01 10000
NORTH COUNTY BANCORP COM 658810106 452 22,900 SOLE 22,900
NORTHEAST BANCORP ESCROW/R COM 664058989 2 153,030 SOLE 153,030
NORTHROP GRUMMAN CORP COM 666807102 953 15,000 SOLE 15,000
NOVACARE EMPLOYEE SERVICES COM 66986Q101 73 30,000 SOLE 30,000
NOVARTIS AG-SPONSORED ADR COM 66987v109 561 7500 SH Defined 02 7500
NTL INCORPORATED COM 629407107 2393 31750 SH Defined 01 02 2250 29500
NUCENTRIX BROADBAND NETWOR COM 670198100 1,608 66,300 SOLE 66,300
OCWEN ASSET INVESTMENT COR COM 67574M106 983 228,000 SOLE 228,000
OEC MEDICAL SYSTEMS COM 670828102 5,097 145,100 SOLE 145,100
OHSL FINANCIAL CORP COM 67084J106 202 10,900 SOLE 10,900
OLSTEN CORP COM 681385100 1,597 153,000 SOLE 153,000
OMNIPOINT CORP COM 68212D102 6,141 110,400 SOLE 110,400
ONIX SYSTEMS INC COM 67088G108 443 79,700 SOLE 79,700
ORANGE CO INC NEW COM 684177108 102 15,000 SOLE 15,000
ORANGE NATIONAL BANCORP-CA COM 685080103 3,007 77,600 SOLE 77,600
ORION CAPITAL CORP COM 686268103 2,606 55,000 SOLE 55,000
ORTHOFIX INT NV COM N6748L102 368 27,763 SOLE 27,763
O'SULLIVAN INDUSTRIES HOLD COM 688609106 828 55,200 SOLE 55,200
OUTDOOR SYSTEMS INC COM 690057104 5,577 156,000 SOLE 156,000
PACIFIC BANK NATIONAL ASSN COM 694026204 1,563 62,500 SOLE 62,500
PACIFICARE HEALTH SYSTEMS COM 695112102 225 5,200 SOLE 5,200
PACIFICORP COM 695114108 4,007 199,100 SOLE 199,100
PALL CORP COM 696429307 241 11000 SH Sole 11000
PALL CORP COM 696429307 1955 89116 SH Defined 01 02 5233 83883
PAREXEL INTERNATIONAL CORP COM 699462107 119 13,100 SOLE 13,100
PARK PLACE ENTERTAINMENT C COM 700690100 831 66,500 SOLE 66,500
PAXSON COMMUNICATIONS CORP COM 704231109 639 52,200 SOLE 52,200
PEAK INTERNATIONAL LTD COM G69586108 1,132 133,150 SOLE 133,150
PECHINEY SPONS ADR COM 705151207 711 25,900 SOLE 25,900
PENN TRAFFIC CO NEW COM 707832200 213 25,000 SOLE 25,000
PENNCORP FINL GROUP INC $3 COM 708094701 276 29,000 SOLE 29,000
PENNSYLVANIA ENTERPRISES I COM 708720107 3,928 121,100 SOLE 121,100
PEPSICO INC COM 713448108 265 7640 SH Defined 01 02 5400 2240
PERCLOSE INC COM 71361C107 6,433 138,350 SOLE 138,350
PERIPHONICS CORP COM 714005105 3,656 117,000 SOLE 117,000
PETRIE STORES LIQUIDATING COM 716437108 430 186,075 SOLE 186,075
PFIZER INC COM 717081103 2508 63486 SH Defined 01 02 43650 19836
PHILADELPHIA SUBURBAN CORP COM 718009608 650 27,600 SOLE 27,600
PHYSICIANS SPECIALITY CORP COM 718934102 530 52,700 SOLE 52,700
PILGRIM CAP CORP COM 72142Y103 2,170 76,300 SOLE 76,300
PIMCO ADVISORS LP-CL (PA) COM 69338X105 769 24,400 SOLE 24,400
PIONEER BANCORPORATION- NE COM 72356L102 1,296 44,700 SOLE 44,700
PIONEER HI-BRED INTL INC COM 723686101 7,799 195,900 SOLE 195,900
PIXTECH INC COM 72583k109 235 117400 SH Defined 01 117400
PLAYCORE INC (pco) COM 72811G102 670 82,412 SOLE 82,412
PLAYERS INTERNATIONAL INC COM 727903106 1,830 247,130 SOLE 247,130
PLD TELEKOM INC DEL COM 69340T100 573 218,634 SOLE 218,634
POCO PETROLEUMS LTD COM 730361102 2,426 275,000 SOLE 275,000
POOL ENERGY COM 732788104 5,217 212,400 SOLE 212,400
PREMARK INTL INC COM 740459102 2,783 55,100 SOLE 55,100
PREMIER BANCSHARES INC-GA COM 739909109 245 14,000 SOLE 14,000
PREMIERE PAGE INC ESCROW COM 74058E998 0 27,000 SOLE 27,000
PRIME BANCSHARES INC TEX COM 74157H108 2,486 110,500 SOLE 110,500
PRIME HOSPITALITY CORP COM 741917108 227 29000 SH Sole 29000
PRIME HOSPITALITY CORP COM 741917108 420 53800 SH Defined 01 02 2800 51000
PRIME RETAIL INC 8.5% CV P COM 741570303 309 22,198 SOLE 22,198
PROCTER & GAMBLE CO COM 742718109 1038 9900 SH Defined 01 02 1600 8300
PROFESSIONAL BANCORP INC COM 743112104 1,128 98,100 SOLE 98,100
PROMUS HOTEL COM 74342H104 1,140 35,000 SOLE 35,000
PROSPECT GROUP NEW (pros) COM 742918501 3 18,811 SOLE 18,811
PROVIDENT BANKSHARES CORP COM 743859100 2835 131649 SH Defined 01 02 18379 113270
PUBLIC SERVICE CO OF NC IN COM 744516105 3,119 100,600 SOLE 100,600
RAGEN MACKENZIE GROUP INC COM 750642100 1,212 69,000 SOLE 69,000
RALSTON-RALSTON PURINA GRO COM 751277302 837 30,100 SOLE 30,100
RANDERS KILLAM GROUP INC. COM 752333203 87 23,200 SOLE 23,200
RANGE RESOURCES CORP COM 75281A109 651 131,829 SOLE 131,829
RAYTECH CORP DEL COM 755103108 662 165,400 SOLE 165,400
RCN CORP COM 749361101 48 1000 SH Defined 01 1000
RCN CORP COM 749361101 367 9,000 SOLE 9,000
RCN CORP COM 749361101 479 10000 SH Sole 10000
RECKON ASSOC RLTY CORP CL COM 75621K304 4,414 201,763 SOLE 201,763
RECOVERY ENGINEERING INC COM 756269106 1,283 36,400 SOLE 36,400
REGENCY BANCORP CALIFORNIA COM 75884Q105 1,344 76,781 SOLE 76,781
REINSURANCE GROUP OF AMERI COM 759351109 2,584 100,590 SOLE 100,590
RELIASTAR FINANCIAL CORP COM 75952u103 232 5400 SH Defined 01 02 4000 1400
REPUBLIC NEW YORK CORP COM 760719104 8,417 137,000 SOLE 137,000
REYNOLDS METALS COM 761763101 5,434 90,000 SOLE 90,000
REYNOLDS RJ TOBACCO HLD IN COM 76182K105 1,103 40,865 SOLE 40,865
RIBI IMMUNOCHEM RESEARCH I COM 762553105 530 245,940 SOLE 245,940
RIGEL ENERGY CORP COM 76655L101 105 11,200 SOLE 11,200
RIVERA HOLDINGS CORP RTS COM 769627118 0 52,475 SOLE 52,475
ROBERTS PHARMACEUTICAL COR COM 770491108 6,023 199,100 SOLE 199,100
ROCHE HOLDING LTD SPONSORED AD COM 771195104 4407 36695 SH Defined 01 02 12100 24595
ROCKY MOUNTAIN CHOCOLATE F COM 774678403 398 67,795 SOLE 67,795
ROHN INC COM 775381106 695 353,050 SOLE 353,050
ROSLYN BANCORP INC COM 778162107 2,413 134,978 SOLE 134,978
ROTONICS MANUFACTURING COM 778903104 250 200,200 SOLE 200,200
ROYAL DUTCH PETROLEUM CO NY RE COM 780257804 480 8000 SH Defined 01 02 6000 2000
RYERSON TULL INC NEW COM 78375P107 629 27,209 SOLE 27,209
SAVILLE SYSTEMS PLC COM 805174109 2,334 159,600 SOLE 159,600
SBC COMMUNICATIONS INC COM 78387g103 509 10000 SH Sole 10000
SBC COMMUNICATIONS INC COM 78387g103 991 19463 SH Defined 01 02 5264 14199
SCHERING PLOUGH CORP COM 806605101 926 18700 SH Defined 01 02 16700 2000
SCHLUMBERGER LTD COM 806857108 468 7732 SH Defined 01 02 6132 1600
SEAGRAM CO LTD COM 811850106 494 10000 SH Sole 10000
SEAGRAM CO LTD COM 811850106 778 15750 SH Defined 01 02 9500 6250
SEALED AIR CORP NEW COM 81211k100 277 5000 SH Sole 5000
SEAWAY FOOD TOWN INC COM 812744100 1,525 54,844 SOLE 54,844
SELECT APPOINTMENT HLD PLC COM 81617E203 955 28,300 SOLE 28,300
SEQUENT COMPUTER SYSTEM IN COM 817338106 2,966 164,800 SOLE 164,800
SGV BANCORP INC COM 78422T102 701 33,009 SOLE 33,009
SHERIDAN ENERGY INC COM 823764105 200 36,400 SOLE 36,400
SHOP AT HOME INC COM 825066301 328 36,400 SOLE 36,400
SIENA HOLDINGS INC COM 826203101 159 149,704 SOLE 149,704
SILICON VALLEY COM 827066101 217 18,434 SOLE 18,434
SILICON VALLEY GROUP INC COM 827066101 401 32100 SH Defined 01 1000 31100
SIMWARE INC COM 829219104 667 183,900 SOLE 183,900
SIZZLER INTERNATIONAL INC COM 830139101 287 135,275 SOLE 135,275
SKYTEL COMMUNICATION INC COM 83087Q104 5,358 292,600 SOLE 292,600
SMART MODULAR TECHNOLOGIES COM 831690102 1,386 40,700 SOLE 40,700
SOLUTIA INC COM 834376105 179 10,000 SOLE 10,000
SONAT INC COM 835415100 2,103 53,000 SOLE 53,000
SOUTHERN PACIFIC PETROLEUM COM 843581307 39 11000 SH Defined 01 11000
SOUTHWEST GAS CORP COM 844895102 8,345 309,800 SOLE 309,800
SOVEREIGN BANCORP INC COM 845905108 121 13680 SH Defined 01 1440 12240
SOVEREIGN BANCORP INC COM 845905108 217 23,896 SOLE 23,896
SPECTRANETICS CORP COM 84760C107 83 20,878 SOLE 20,878
SPRINT CORP COM 852061100 2,170 40,000 SOLE 40,000
ST PAUL BANCORP COM 792848103 1,074 46,967 SOLE 46,967
STAFF LEASING INC COM 852381102 1,041 104,050 SOLE 104,050
STANDARD PRODUCTS CO COM 853836104 5,766 163,000 SOLE 163,000
STANFORD TELECOMMUNICATION COM 854402104 3,426 107,900 SOLE 107,900
STARWOOD HOTELS & RESORTS WORL COM 85590a203 390 17000 SH Defined 01 17000
STATE FINANCIAL SERVICES C COM 856855101 670 45,994 SOLE 45,994
STATEWIDE FINANCIAL CORP COM 857914105 1,262 54,300 SOLE 54,300
STRAWBRIDGE & CLOTHIER ESC COM 863200986 2 181,668 SOLE 181,668
SUN ENERGY PARTNERS LP ESC COM 866719990 76 61,600 SOLE 61,600
SUNSTONE HOTEL INVESTORS I COM 867933103 175 20,000 SOLE 20,000
SUPERMARKETS GENERAL $3.52 COM 868446204 1,072 32,858 SOLE 32,858
SUPERTEL HOSPITALITY INC COM 868524109 1,194 94,110 SOLE 94,110
SWISS HELVETIA FUND INC COM 870875101 664 46400 SH Defined 01 02 5600 40800
T ROWE PRICE U S TREASURY FUND COM 77957t107 170 33269 SH Defined 01 33269
TELEBANC FINANCIAL CORP COM 87925R109 380 16,500 SOLE 16,500
TELEPHONE & DATA SYSTEMS INC COM 879433100 1844 16000 SH Sole 16000
TELEPHONE & DATA SYSTEMS INC COM 879433100 7630 66200 SH Defined 01 02 15100 51100
TELETOUCH COMMUNICATIONS I COM 87951V206 12 19,000 SOLE 19,000
TELOS CORP 12% PFD COM 87969B200 37 14,607 SOLE 14,607
TERA COMPUTER CO COM 88076p108 132 41350 SH Defined 01 41350
TERRA NOVA BERMUDA HLDGS L COM G87615103 3,753 117,500 SOLE 117,500
TEXAS INSTRUMENTS INC COM 882508104 108 1200 SH Defined 02 1200
TEXAS INSTRUMENTS INC COM 882508104 897 10000 SH Sole 10000
THEMOTREX CORP COM 883666109 930 148,800 SOLE 148,800
THERMEDICS DETECTION INC COM 88355T103 1,158 124,300 SOLE 124,300
THERMO ECOTEK CORP COM 88355R106 1,071 118,200 SOLE 118,200
THERMO POWER CORP COM 883589103 992 84,000 SOLE 84,000
THERMO SENTRON INC COM 883593105 1,397 102,500 SOLE 102,500
THERMO TERRATECH INC COM 883598104 64 14,300 SOLE 14,300
THERMO VISION CORP COM 883600108 1,201 179,600 SOLE 179,600
THERMORETEC CORP COM 883656100 215 40,900 SOLE 40,900
THERMOSPECTRA CORP COM 883660102 902 57,500 SOLE 57,500
THINK NEW IDEAS INC COM 884094103 1,480 221,300 SOLE 221,300
TIME WARNER INC (HOLDING CO) COM 887315109 697 10000 SH Sole 10000
TIME WARNER INC (HOLDING CO) COM 887315109 5505 79000 SH Defined 01 02 39540 39460
TIME WARNER TELECOM INC CLASS COM 887319101 25 1000 SH Defined 01 1000
TIME WARNER TELECOM INC CLASS COM 887319101 202 8000 SH Sole 8000
TLC BEATRICE COM NOT AVAIL 75 15,000 SOLE 15,000
TODAYS MAN INC (tman) COM 888910106 61 69,252 SOLE 69,252
TODD AO CORP CL A COM 888896107 220 14800 SH Defined 02 14800
TORCHMARK CORP COM 891027104 246 7900 SH Defined 01 02 2800 5100
TOTAL CONTAINMENT INC. COM 89149T101 161 56,110 SOLE 56,110
TOWN & COUNTRY CONV 6% PFD COM 892027400 0 14,093 SOLE 14,093
TPI ENTERPRISES COM 872623103 5 534,249 SOLE 534,249
TRANSACTION NETWORK SERVIC COM 893414102 2,787 71,000 SOLE 71,000
TRIKON TECHNOLOGIES INC COM 896187994 195 624,004 SOLE 624,004
TRIKON TECHNOLOGIES INC PF COM 896187986 112 37,427 SOLE 37,427
TRO LEARNING INC COM 87263R109 172 28,700 SOLE 28,700
TSI INC MINN COM 872876107 386 32,155 SOLE 32,155
TYCO INTERNATIONAL LTD COM 902124106 2971 74400 SH Defined 01 02 22200 52200
U S BIOSCIENCE INC NEW COM 911646206 2,280 160,000 SOLE 160,000
U S HOMECARE CORP COM 911819100 0 10000 SH Defined 01 10000
UDC HOMES SER C SUB NTS 0% COM 90264JAA8 0 89,940 SOLE 89,940
UNILAB CORP NEW COM 904763109 301 53,000 SOLE 53,000
UNILEVER N V NEW YORK SHS NEW COM 904784709 416 6245 SH Defined 02 01 4461 1784
UNION BANKSHARES LTD COM 905403101 469 29,185 SOLE 29,185
UNION CARBIDE COM 905581104 6,704 118,000 SOLE 118,000
UNITED PAN-EUROPE COMMS N V SP COM 911300200 821 10600 SH Defined 01 02 6200 4400
UNITED STATES CELLULAR COR COM 911684108 1,095 16,100 SOLE 16,100
UNITED STATES LEATHER INC COM 912134103 280 186,536 SOLE 186,536
UNITED WATER COM 913190104 1,599 49,000 SOLE 49,000
UNITEDGLOBALCOM CL A COM 913247508 879 10100 SH Sole 10100
UNITEDGLOBALCOM CL A COM 913247508 3067 35250 SH Defined 01 02 8100 27150
UNITEL VIDEO INC COM 913253100 4 10,400 SOLE 10,400
UNITRODE CORP COM 913283107 6,825 162,500 SOLE 162,500
UNITY BANCORP INC-DEL (unt COM 913290102 222 33,438 SOLE 33,438
UROQUEST MEDICAL CORP COM 917285108 90 68,900 SOLE 68,900
US DIAGNOSTIC INC COM 90328Q108 30 32,000 SOLE 32,000
US WEST INC NEW (usw) COM 91273H101 7,858 137,700 SOLE 137,700
USB HOLDING CO INC COM 902910108 711 42,430 SOLE 42,430
UST CORP COM 902900109 4,609 149,890 SOLE 149,890
VALLEY NATIONAL CORP COM 91979P100 1,151 62,200 SOLE 62,200
VARIAN MEDICAL SYSTEMS INC COM 92220p105 253 12000 SH Sole 12000
VARIAN MEDICAL SYSTEMS INC COM 92220p105 930 44135 SH Defined 01 44135
VENTAS INC COM 92276F100 606 127,500 SOLE 127,500
VIACOM HOLDING CL B COM 925524308 440 9822 SH Defined 01 02 566 9256
VIACOM HOLDING CL B COM 925524308 447 10000 SH Sole 10000
VIACOM INC COM 925524100 413 9056 SH Defined 01 9056
VIASOFT INC COM 92552U102 2,181 254,700 SOLE 254,700
VIDEO UPDATE INC-CL A COM 92657V104 37 108,618 SOLE 108,618
VISIO CORP COM 927914101 1,850 47,200 SOLE 47,200
VISKASE COMPANIES INC COM 92831R102 284 85,700 SOLE 85,700
VODAFONE AIRTOUCH PLC SPONSORE COM 92857t107 288 6000 SH Defined 01 6000
VORNADO REALTY TRUST COM 929042109 190 6000 SH Defined 01 02 3000 3000
VORNADO REALTY TRUST COM 929042109 349 11000 SH Sole 11000
WALDEN RESIDENTIAL PROPERT COM 931210108 910 41,700 SOLE 41,700
WALT DISNEY CO HOLDING CO COM 254687106 1180 44745 SH Defined 01 02 6000 38745
WASHINGTON MUTUAL INC COM 939322103 289 8040 SH Defined 01 02 3360 4680
WATKINS JOHNSON CO COM 942486101 1,588 47,300 SOLE 47,300
WEATHERFORD INTERNATIONAL COM 947074100 556 17,363 SOLE 17,363
WEATHERFORD INTERNATIONAL INC COM 947074100 169 5000 SH Sole 5000
WEATHERFORD INTERNATIONAL INC COM 947074100 1884 55628 SH Defined 01 02 19472 36156
WELLS FARGO & CO-NEW COM 949746101 479 10000 SH Sole 10000
WELLS FARGO & CO-NEW COM 949746101 742 15500 SH Defined 01 15500
WESTERN BANCORP COM 957683105 1,779 46,200 SOLE 46,200
WESTINGHOUSE AIR BRAKE CO COM 960386100 278 15,300 SOLE 15,300
WILLIAMS COMPANIES INC COM 969457100 375 10000 SH Sole 10000
WILLIAMS COMPANIES INC COM 969457100 1267 33800 SH Defined 01 02 5400 28400
WINSTON RESOURCES INC COM 975661109 235 51,400 SOLE 51,400
WM WRIGLEY JR CO COM 982526105 719 9000 SH Defined 02 9000
WORLD COLOR PRESS INC-DEL COM 981443104 6,396 171,700 SOLE 171,700
WRT CREDITORS LIQUIDATING COM 92931K965 0 126,667 SOLE 126,667
WRT ENERGY CORP WTS COM 92931K130 0 12,000 SOLE 12,000
WTS IGENE BIOTECHNOLOGY INC COM 451695142 0 131414 SH Defined 01 131414
WYMAN GORDON CO COM 983085101 3,181 170,200 SOLE 170,200
XEROX CORP COM 984121103 224 8000 SH Defined 01 8000
XILINX INC COM 983919101 786 10000 SH Sole 10000
XIONICS DOCUMENTS TECHNOLO COM 98412X103 1,330 228,864 SOLE 228,864
XOMED SURGICAL PRODUCTS IN COM 98412V109 7,854 138,100 SOLE 138,100
XTRA CORP COM 984138107 1,185 29,800 SOLE 29,800
YANKEE ENERGY SYSTEM COM 984779108 1,720 40,300 SOLE 40,300
ZURICH SF HLDGS INC EARN O COM 98982YAB7 1,262 11,473 SOLE 11,473
AAMES FINCL CORP SUB DEB 5 FIXED 00253AAE1 1,758 47,500 SOLE 47,500
AMERITRUCK DIST CORP 12.25 FIXED 03071XAC9 173 31,500 SOLE 31,500
ARCH COMMUNICATION GRP SR FIXED 039381AB4 1,900 50,000 SOLE 50,000
AUSTRALIAS HLDG PTY SR NT FIXED 05258AAC9 30 30,000 SOLE 30,000
BANK OF NEW ENGLAND NOTE 9 FIXED 063840AC6 399 29,550 SOLE 29,550
BARINGS BV - FRN 1/22/01 FIXED LU0001749 2,205 35,000 SOLE 35,000
BUILDERS TRANSPORT 6.5% 5/ FIXED 120084AB4 9 18,220 SOLE 18,220
BUILDERS TRANSPORT 8% 8/15 FIXED 120084AA6 11 22,630 SOLE 22,630
CLARIDGE HOT & CASINO 11.7 FIXED 180476AA1 1,227 21,620 SOLE 21,620
COLOR TILE INC SR NT 10.75 FIXED 196267AD0 138 221,350 SOLE 221,350
COLOR TILE TERM NOTES FIXED NOT AVAIL 317 3,169 SOLE 3,169
CONXUS COMMUNICATIONS SR N FIXED 212876AA4 765 45,000 SOLE 45,000
DECISIONONE CORP SR.NT 8/1 FIXED 243456AA8 146 29,150 SOLE 29,150
DIAMOND BRANDS SR DIS DEB FIXED 252564AB5 645 30,000 SOLE 30,000
DISCOVERY ZONE INC SR SECD FIXED 25468BAF4 62 248,150 SOLE 248,150
FPA MEDICAL MGMT 6.5% 12/1 FIXED 302543AD5 184 367,600 SOLE 367,600
GENEVA STEEL SR NOTE 1/15/ FIXED 372252AC0 962 52,000 SOLE 52,000
GENEVA STEEL SR NOTE 3/15/ FIXED 372252AA4 873 47,170 SOLE 47,170
IN-FLIGHT PHONE CORP 14% 5 FIXED 45322KAC5 200 20,000 SOLE 20,000
IONICA PLC SR DISC NTS 5/1 FIXED 462213AK5 35 11,500 SOLE 11,500
JAZZ CASINO CO SR NT 8% 11 FIXED 472143AA4 543 8,894 SOLE 8,894
JAZZ CASINO SR CONTING NT FIXED 472143AB2 300 13,039 SOLE 13,039
LEVITZ FURN CORP SR NT 13. FIXED 527480AJ6 443 5,870 SOLE 5,870
LOMAS FINCL CORP NEW 9% 10 FIXED 5415359A0 124 27,500 SOLE 27,500
LOUISIANA ST AG FIN AUTH 8 FIXED 546418AB0 0 15,000 SOLE 15,000
MOBIL ENERGY SVC CO 8.665% FIXED 607358AA6 420 15,000 SOLE 15,000
NOTRH AMER VACCINE CONV SU FIXED 657201AA7 308 6,700 SOLE 6,700
PLASMA & MATLS TECH 7.125% FIXED 72753MAA7 360 6,000 SOLE 6,000
REVLON WORLDWIDE PC SR NT FIXED 76154MAC9 2,443 44,410 SOLE 44,410
SELLCO CORP 12% 12/15/04 ( FIXED 81641KAA8 22 86,423 SOLE 86,423
SFAC NEW HLDGS 0% 6/15/09 FIXED 78411NAA6 152 27,586 SOLE 27,586
SMARTALK CONV SUB NT 9/15/ FIXED 83169AAC4 1,253 30,200 SOLE 30,200
SOURCE MEDIA SR NTS 11/1/0 FIXED 836153AC0 549 14,850 SOLE 14,850
SOUTHEAST BK CORP 10.5% 4/ FIXED 841338AD8 535 20,000 SOLE 20,000
SUNBEAM CORP CV 0% 3/25/18 FIXED 867071AA0 1,233 72,500 SOLE 72,500
TRANS WORLD AIRLINE 8% 11/ FIXED 893349AV2 0 10,000 SOLE 10,000
TRUMPS CASTLE 11.75% 11/15 FIXED 898178AE8 383 4,484 SOLE 4,484
TV FILME SR NT 12.875 DUE FIXED 873071AC8 888 24,000 SOLE 24,000
USN COMM SR NTS SER B 8/15 FIXED 90336NAC9 2,564 394,510 SOLE 394,510
WRT ENERGY CORP 13.875% 3/ FIXED 92931KAB2 0 15,000 SOLE 15,000
AT&T JAN 50 PUT PUT 0019579M3 111 15,000 SOLE 15,000
CASE CORP JAN 40 PUT PUT 14743R9M7 16 12,500 SOLE 12,500
CASE CORP NOV 45 PUT PUT 14743R9W5 15 10,000 SOLE 10,000
DATA GENERAL OCT 17.5 PUT PUT 2376889V0 13 200,000 SOLE 200,000
DATA GENERAL OCT 20 PUT PUT 2376889V0 22 50,000 SOLE 50,000
GLOBAL CROSS OCT 70 PUT PUT G3921A9V4 27,205 625,400 SOLE 625,400
NEWCOURT CREDIT NOV 10 PUT PUT 6509059W4 4 30,000 SOLE 30,000
ORION CAPITAL NOV 40 PUT PUT 6862689W5 10 10,000 SOLE 10,000
RUSSELL 2000 INDEX OCT 430 PUT 1248359V3 678 87,500 SOLE 87,500
SOURCE MEDIA JAN 05 PUT PUT 8361539M0 10 17,000 SOLE 17,000
REPORT TOTAL 684 DATA RECORDS 983,419 2 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILES
</TABLE>
