<TABLE>
sycode cucode codesc stdesc cusip qty market
<S> <C> <C> <C> <C> <C> <C>
ACN USD ACUSON CORPORATION COMMON STOCK 005113105 396400 $9,018,100.00
RKY USD ADOLPH COORS COMPANY COMMON STOCK 217016104 70000 $4,423,125.01
ADVNB USD ADVANTA CORPORATION COMMON STOCK 007942204 634100 $5,161,970.31
AES,IIIR USD AES CORP PREFERRED STOCK 00808N202 200000 $20,825,975.16
AES4.5%05R USD AES CORP BOND 00130HAN5 3000000 $7,723,584.22
ACS04%05 USD AFFILIATED COMPUTER SERVICES, INC. BOND 008190AD2 2000000 $2,593,297.74
PCSA USD AIRGATE PCS, INC COMMON STOCK 009367103 14598 $655,085.27
ACV.A USD ALBERTO CULVER COMMON STOCK 013068200 280000 $7,017,500.01
AYE USD ALLEGHENY ENERGY, INC COMMON STOCK 017361106 102000 $3,898,312.50
ARCC7.5%07A USD ALLIED RISER COMMUNICATIONS BOND 019496AA6 2000000 $1,172,560.18
ATON USD ALTEON WEBSYSTEMS, INC COMMON STOCK 02145A109 95200 $10,318,787.50
ALTR.O USD ALTERA COMMON STOCK 021441100 35600 $1,699,900.00
AZA0%14R USD ALZA CORP BOND 022615AC2 15000000 $16,992,828.59
AZA0%20AS USD ALZA CORP BOND 02261WAA7 15000000 $10,387,924.61
ABK USD AMBAC FINANCIAL GROUP, INC COMMON STOCK 023139108 76000 $5,567,000.00
AMFI USD AMCORE FINANCIAL, INC COMMON STOCK 023912108 111000 $2,178,375.02
AOL0%19A USD AMERICA ONLINE BOND 02364JAC8 10000000 $5,080,920.81
AA USD AMERICAN ALUMINUM INC. COMMON STOCK 013817101 233500 $5,910,468.76
WAP02AR USD AMERICAN INTERNATIONAL GROUP INC CALL OPTION 50000 $5,312,500.00
ACR5.75%02 USD AMERICAN RETIREMENT CORP BOND 028913AA9 3500000 $2,372,962.93
YAA00JO USD AMGEN INC. CALL OPTION 50000 $4,162,500.00
APC USD ANADARKO PETROLEUM CORPORATION COMMON STOCK 032511107 163900 $10,892,794.00
APC1 USD ANADARKO PETROLEUM CORPORATION COMMON STOCK 032511107 1479325 $98,315,939.50
ADI4.75%05A USD ANALOG DEVICES INC BOND 032654AC9 5000000 $5,155,001.70
AFS USD ASSOCIATES FIRST CAPITAL COMMON STOCK 046008108 916400 $34,823,200.00
ATHM.5246%18AR USD AT HOME CORP SER - A BOND 045919AA5 2511000 $1,090,520.40
ATHM.5246%18R USD AT HOME CORP SER - A BOND 045919AC1 11489000 $4,989,641.14
ATHM4.75%06AR USD AT HOME CORP SER - A BOND 045919AD9 3000000 $2,027,924.82
ATW USD ATWOOD OCEANICS COMMON STOCK 050095108 246800 $10,288,475.00
AVIR5.75%05R USD AVIRON BOND 053762AC4 5000000 $9,622,171.17
AXF USD AXA FINANCIAL, INC COMMON STOCK 002451102 464000 $23,635,000.00
AXNT USD AXENT TECH COMMON STOCK 05459C108 357000 $7,697,812.51
BJS USD B J SERVICES COMMON STOCK 055482103 214400 $13,105,200.00
BAC USD BANKAMERICA CORPORATION COMMON STOCK 060505104 398600 $20,876,675.02
BWC USD BELDEN INC. COMMON STOCK 077459105 52200 $1,233,225.01
BEL/CWZ4.25%05A USD BELL ATLANTIC BOND 07785GAC4 7000000 $7,853,564.86
BEL4.25%05R USD BELL ATLANTIC BOND U0778KAD4 1000000 $1,121,937.84
BFO USD BESTFOODS COMMON STOCK 08658U101 1164000 $84,681,000.00
BOW USD BOWATER INC COMMON STOCK 102183100 80000 $3,715,000.00
BP.O USD BP AMOCO PLC COMMON STOCK 055622104 420000 $22,260,000.00
BD,R USD BUDGET GROUP PREFERRED STOCK 119001303 240000 $5,040,000.00
COG USD CABOT OIL & GAS CORPORATION COMMON STOCK 127097103 50000 $1,018,750.00
MEC,IIIR USD CALENERGY PREFERRED STOCK 12946N309 182855 $6,885,638.17
MEC,IIR USD CALENERGY PREFERRED STOCK 12946P403 75000 $3,103,125.01
CPN,R USD CALPINE CORP PREFERRED STOCK 131346207 5965 $1,093,981.00
CLS0%20R USD CELESTICA INC. BOND 15101QAA6 5000000 $2,462,254.37
CBC USD CENTURA BANKS INC COMMON STOCK 15640T100 138100 $5,290,956.26
SCH1 USD CHARLES SCHWAB COMMON STOCK 808513105 514350 $18,243,351.56
CHRS7.5%06R USD CHARMING SHOPPES, INC BOND 161133AA1 4270000 $3,828,550.80
COD USD CHILES OFFSHORE, INC COMMON STOCK 16888M104 150000 $3,243,750.01
CHIR1.9%00A USD CHIRON CORP BOND 170040AB5 4000000 $6,198,600.00
CCN USD CHRIS-CRAFT INDUSTRIES, INC. COMMON STOCK 170520100 578100 $47,620,987.52
CMS USD CMS ENERGY COMMON STOCK 125896100 635600 $17,131,406.26
COBT USD COBALT NETWORKS, INC COMMON STOCK 19074R101 154600 $8,947,475.01
KO USD COCA COLA CO. COMMON STOCK 191216100 15750 $868,218.76
KO01AN USD COCA COLA CO. CALL OPTION 50000 $3,661,625.00
KO01NL USD COCA COLA CO. PUT OPTION 37500 $2,109,375.00
CBSS USD COMPASS BANCSHARES INC COMMON STOCK 20449H109 592400 $11,551,800.00
CMVT4.5%05R USD COMVERSE TECHNOLOGY BOND 205862AG0 2000000 $10,090,584.91
CNXT4.25%06R USD CONEXANT SYSTEMS, INC BOND 207142AB6 4000000 $7,656,877.17
COX,I USD COX CABLE PREFERRED STOCK 224044305 8250 $432,351.56
CRO USD CROWN PACIFIC PARTNERS, LP COMMON STOCK 228439105 29300 $509,087.51
CUC3%02R USD CUC INTERNATIONAL BOND 126545AD4 24000000 $22,125,000.01
CFR USD CULLEN FROST BANKERS INC COMMON STOCK 229899109 115000 $3,737,500.00
CVS USD CVS DELAWARE COMMON STOCK 126650100 357700 $16,565,981.25
CY6%02R USD CYPRESS SEMICONDUCTOR BOND 232806AD1 5000000 $8,798,500.00
DRTN USD DATA RETURN CORPORATION COMMON STOCK 23785M104 29400 $595,350.00
DZB USD DELHAIZE AMERICA, INC COMMON STOCK 246688204 10000 $167,500.00
DVN USD DEVON ENERGY GROUP COMMON STOCK 25179M103 66800 $4,018,020.00
DVN0%20AS USD DEVON ENERGY GROUP BOND 25179MAC7 5500000 $2,636,331.27
DVN4.9%08R USD DEVON ENERGY GROUP BOND 25179MAA1 6095000 $5,794,059.38
DO3.75%07R USD DIAMOND OFFSHORE DRILLING BOND 25271CAA0 7000000 $7,829,123.93
DME USD DIME BANCORP, INC. COMMON STOCK 25429Q102 327800 $7,293,550.00
DLJ USD DONALDSON LUFKIN JENNETTE COMMON STOCK 257661108 273300 $24,443,268.76
DOW USD DOW CHEMICAL COMPANY COMMON STOCK 260543103 329995 $8,229,250.31
DURA USD DURA PHARMACEUTICALS, INC COMMON STOCK 26632S109 483900 $17,117,962.51
EWBX7%05AR USD EARTHWEB, INC. BOND 27032CAA6 1500000 $583,731.95
ELN0%18AR USD ELAN CORP PLC BOND 284129AA1 185000 $150,019.21
ELN0%18R USD ELAN CORP PLC BOND 284129AC7 19815000 $16,068,273.92
ELN4.75%04R USD ELAN CORP PLC BOND 046854AB1 8000000 $12,472,475.18
EBSC USD ELDER-BEERMAN STORES CORP COMMON STOCK 284470101 377900 $1,747,787.52
EMC01AR USD EMC CORP CALL OPTION 75000 $7,506,250.00
EAS USD ENERGY EAST CORP COMMON STOCK 29266M109 392000 $8,881,250.01
EXG,7 USD ENRON OIL & GAS PREFERRED STOCK 293561882 50000 $1,732,375.00
ECJ,R USD ESTEE LAUDER PREFERRED STOCK 518438205 165800 $11,707,935.91
FMO,R USD FED-MOGUL FINANCE TRUST PREFERRED STOCK 313552408 500000 $4,398,756.71
FDW,D USD FEDERATED DEPARTMENT STORES PREFERRED STOCK 31410H127 126500 $577,156.25
FITB3 USD FIFTH THIRD BANCORP COMMON STOCK 316773100 878631 $47,336,245.13
FDC00WG USD FIRST DATA CORPORATION PUT OPTION 125000 $4,142,500.00
FDC00WH USD FIRST DATA CORPORATION PUT OPTION 40000 $1,540,000.00
FMBI USD FIRST MIDWEST BANCORP, INC. COMMON STOCK 320867104 127500 $3,394,687.50
FNAN USD FIRST NATIONAL BANK ANCHORAGE COMMON STOCK 322387101 4562 $3,968,940.00
FSCO USD FIRST SECURITY CORP COMMON STOCK 336294103 2586700 $42,195,543.77
SRCE.O USD FIRST SOURCE CORPORATION COMMON STOCK 336901103 97872 $2,055,312.00
FSNM.O USD FIRST STATE BANC COMMON STOCK 336453105 168301 $2,061,687.25
FTU USD FIRST UNION CORPORATION COMMON STOCK 337358105 551000 $17,735,312.51
FWWB USD FIRST WASHINGTON BANCORP COMMON STOCK 33748T104 65000 $1,019,687.50
FPFX USD FIRSTPLUS FINANCIAL GROUP COMMON STOCK 33763B103 60000 $11,400.00
FSPT USD FIRSTSPARTAN FINANCIAL CORP COMMON STOCK 337931109 148500 $4,445,718.75
FLE,R USD FLEET ENTERPRISES PREFERRED STOCK 339072407 200000 $4,568,656.18
FLBK.O USD FLORIDA BANKS INC COMMON STOCK 340560101 218900 $1,149,225.00
FMC USD FMC CORPORATION COMMON STOCK 302491303 130000 $8,718,125.01
FORC USD FORCENERGY INC COMMON STOCK 345206205 239500 $6,256,937.51
FJ USD FORT JAMES CORPORATION COMMON STOCK 347471104 460000 $14,058,750.01
FPIC USD FPIC INSURANCE GROUP, INC COMMON STOCK 302563101 196700 $2,753,800.00
FPL USD FPL GROUP COMMON STOCK 302571104 129870 $8,540,981.71
FRE USD FREDDI MAC COMMON STOCK 313400301 120000 $6,487,500.01
GCI USD GANNET COMPANY, INC. COMMON STOCK 364730101 159500 $8,453,500.00
GP USD GEORGIA PACIFIC COMMON STOCK 373298108 151000 $3,548,500.00
GP01MY USD GEORGIA PACIFIC PUT OPTION 121600 $3,002,400.00
TGP USD GEORGIA-PACIFIC CORP (TIMBER GROUP) COMMON STOCK 373298702 259100 $6,963,312.51
GBLX, USD GLOBAL CROSSING LIMITED PREFERRED STOCK G3921A134 20000 $5,021,123.60
GLM USD GLOBAL MARINE INC COMMON STOCK 379352404 318000 $9,818,250.02
GLM0%20AR USD GLOBAL MARINE INC BOND 379352AM9 10000000 $5,192,000.00
GSTRF,9AR USD GLOBAL STAR PREFERRED STOCK 379364870 164000 $3,065,663.68
GTS,7.25R USD GLOBAL TELESYSTEMS GROUP, INC PREFERRED STOCK 37936U609 40000 $449,374.01
GSB USD GOLDEN STATE BANCORP COMMON STOCK 381197102 306100 $7,231,612.50
GPU USD GPU INC COMMON STOCK 36225X100 324600 $10,534,284.37
GRP USD GRANT PRIDECO, INC COMMON STOCK 38821G101 320000 $7,020,000.00
HAVN USD HAVEN BANCORP, INC. COMMON STOCK 419352109 110300 $3,240,062.52
HMA.25%20A USD HEALTH MANAGEMENT ASSOCIATES, INC BOND 421933AA0 2000000 $1,452,200.58
HRZ USD HERTZ COMMON STOCK 428040109 150000 $4,762,500.00
HWP0%17R USD HEWLETT PACKARD CO BOND 428236AC7 50000000 $36,837,791.98
HLT5%06R USD HILTON HOTELS BOND 432848AL3 8000000 $6,770,000.00
HBAN USD HUNTINGTON BANCSAHRES INC COMMON STOCK 446150104 399498 $5,867,626.88
HUWHY2.875%03 USD HUTCHINSON WHAMPOA INTNAT'L LTD BOND 8000000 $8,045,698.05
HYDL USD HYDRIL COMPANY COMMON STOCK 448774109 159000 $3,617,250.00
INF1 USD INFINITY BROADCASTING CORP COMMON STOCK 45662S102 694543 $22,919,919.00
JPM USD J P MORGAN COMMON STOCK 616880100 333700 $54,518,237.52
JCOR0%11R USD JACOR COMMUNICATIONS INC BOND 469858AA2 15000000 $13,421,158.80
JDSU1 USD JDS UNIPHASE CORP COMMON STOCK 46612J101 146390 $13,861,303.14
JNC USD JOHN NUVEEN COMPANY COMMON STOCK 478035108 92500 $4,474,687.51
KBL USD KEEBLER FOOD CO COMMON STOCK 487256109 125000 $5,250,000.00
KEG USD KEY ENERGY COMMON STOCK 492914106 1113100 $10,922,293.76
KSTN USD KEYSTONE FINANCIAL INC, COMMON STOCK 493482103 1576500 $37,985,767.51
KM,TR USD KMART CORPORATION PREFERRED STOCK 498778208 665000 $20,602,586.42
KSS0%20R USD KOHLS BOND 500255AJ3 12500000 $7,351,436.32
LRCX USD LAM RESEARCH CORPORATION COMMON STOCK 512807108 56300 $1,178,781.26
LAMR5.25%06R USD LAMAR ADVERTISING COMPANY BOND 512815AF8 5000000 $5,067,255.63
LSCC4.75%06R USD LATICE SEMI CONDUCTOR BOND 518415AC8 2500000 $3,629,244.07
LEA USD LEAR CORP COMMON STOCK 521865105 327700 $6,738,331.26
LVLT6%09R USD LEVEL 3 COMMUNICATIONS, INC. BOND 52729NAG5 5000000 $6,745,849.81
LIN USD LINENS AND THINGS COMMON STOCK 535679104 445000 $11,347,500.00
LTR3.125%07R USD LOEWS CORP BOND 540424AL2 5000000 $4,447,274.54
LOR, USD LORAL CORPORATION PREFERRED STOCK G56462149 150000 $3,025,837.50
LOR,AS USD LORAL CORPORATION PREFERRED STOCK 543885602 100000 $2,197,673.70
MLM USD MARTIN MARIETTA MATERIALS COMMON STOCK 573284106 77500 $2,966,700.00
MCLD USD MCLEODUSA INC COMMON STOCK 582266102 64000 $916,000.01
MCN USD MCN CORP COMMON STOCK 55267J100 966100 $24,771,407.80
UMX, USD MEDIAONE GROUP PREFERRED STOCK 58440J401 150000 $12,411,271.88
MEL USD MELLON BANK CORPORATION COMMON STOCK 58551A108 66800 $3,097,850.01
WMR02AR USD MERK & CO CALL OPTION 43000 $4,294,625.00
MIU, USD METLIFE, INC PREFERRED STOCK 59156R207 250000 $20,882,312.50
MSFT USD MICROSOFT CORPORATION COMMON STOCK 594918104 28000 $1,688,750.01
WMF02MN USD MICROSOFT CORPORATION PUT OPTION ML00ZC5T6 25000 $1,600,000.00
WMF02MO USD MICROSOFT CORPORATION PUT OPTION ML00ZC2P9 25000 $1,691,950.00
MDST USD MID-STATE BANCSHARES COMMON STOCK 595440108 183300 $5,728,125.00
MIPSB USD MIPS TECHNOLOGIES, INC COMMON STOCK 604567206 72300 $2,783,550.00
MOLXA USD MOLEX INC COMMON STOCK 608554200 871325 $36,105,529.69
MOT1 USD MOTOROLA COMMON STOCK 620076109 1635717 $47,333,560.69
NA USD NABISCO COMMON STOCK 629526104 914000 $49,127,500.00
NAU,7.875R USD NATIONAL AUSTRALIA BANK LTD PREFERRED STOCK 632525309 275000 $7,008,647.22
NCC USD NATIONAL CITY CORPORATION COMMON STOCK 635405103 586000 $12,892,000.00
NGG,6R USD NATIONAL GRID GROUP PREFERRED STOCK ML0091GX1 225000 $7,127,361.85
NAP USD NATIONAL PROCESSING COMMON STOCK 637229105 829200 $11,556,975.01
NFS USD NATIONWIDE FINANCIAL COMMON STOCK 638612101 147300 $5,505,337.51
NFX USD NEWFIELD EXPLORATION COMMON STOCK 651290108 183700 $8,576,493.76
NWS0%13A USD NEWS CORP BOND 652478AS7 10000000 $11,310,105.68
NBL USD NOBLE AFFILIATES INC COMMON STOCK 654894104 331700 $12,314,362.51
NT1 USD NORTHERN TELECOM COMMON STOCK 656568102 287190 $17,339,096.25
NRIM USD NORTHRIM BANK COMMON STOCK 666764105 131037 $1,064,675.64
ODP0%07R USD OFFICE DEPOT INC BOND 676220AA4 8500000 $5,213,294.78
ODP0%08R USD OFFICE DEPOT INC BOND 676220AB2 12500000 $8,976,562.51
OK USD OLD KENT FINANCIAL CORP COMMON STOCK 679833103 375700 $10,871,818.75
PWJ USD PAINE WEBBER JACKSON COMMON STOCK 695629105 1214300 $83,634,912.52
PTMK USD PATHMARK STORES, INC COMMON STOCK 70322A101 200000 $2,462,500.01
PE USD PECO ENERGY COMPANY COMMON STOCK 693304107 102300 $6,197,142.17
PKI0%20R USD PERKINELMER, INC. BOND 714046AA7 12500000 $8,534,270.87
PFE1 USD PFIZER INC COMMON STOCK 717081103 1937900 $87,023,821.87
PHA1 USD PHARMACIA CORPORATION COMMON STOCK 71713U102 492283 $29,629,283.07
PIOS,6.75R USD PIONEER STANDARD ELECTRONICS PREFERRED STOCK 723879300 65900 $3,268,870.04
PNTE USD POINTE FINANCIAL CORPORATION COMMON STOCK 73084P100 35100 $322,481.26
PDS USD PRECISION DRILLING CORPORATIOIN COMMON STOCK 74022D100 478600 $17,050,125.01
PDE USD PRIDE INTERNATIONAL INC. COMMON STOCK 741932107 419400 $11,114,100.00
AFIS USD PRINTRAK INTERNATIONAL INC. COMMON STOCK 742574106 452000 $5,424,000.00
KWK USD QUICKSILVER RESOURCES INC COMMON STOCK 74837R104 111700 $1,089,075.00
ZWK01MY USD QWEST COMMUNICATIONS PUT OPTION ML00ZZHA7 318000 $7,159,850.00
FLC USD R & B FALCON DRILLING COMMON STOCK 74912E101 1549600 $43,098,250.01
RDB USD READER'S DGST ASSOCIATION COMMON STOCK 755267200 206100 $6,505,031.26
RAD10.5%02AR USD RITE AID CORPORATION BOND 767754AS3 3000000 $1,935,000.00
FLENET.FL%49 USD ROBERT FLEMING FINANCE LTD BOND 4400000 $3,718,000.00
RDC USD ROWAN COMPANIES INC COMMON STOCK 779382100 990400 $28,721,600.00
RD USD ROYAL DUTCH PETROLEUM CO. COMMON STOCK 780257804 150000 $8,990,625.02
SPB00KE USD S&P INDEX OPTIONS CALL OPTION 20000 $32,687,500.00
SPB00KJ USD S&P INDEX OPTIONS CALL OPTION 25000 $41,423,750.00
SPB00KT USD S&P INDEX OPTIONS CALL OPTION 10000 $16,100,000.00
SPB00LJ USD S&P INDEX OPTIONS CALL OPTION 30000 $49,927,500.00
SPB00LT USD S&P INDEX OPTIONS CALL OPTION 10000 $16,280,000.00
SXM00JJ USD S&P INDEX OPTIONS CALL OPTION 5000 $7,835,000.00
SXM00JO USD S&P INDEX OPTIONS CALL OPTION 40000 $63,553,125.00
SXM00KE USD S&P INDEX OPTIONS CALL OPTION 5000 $7,672,500.00
SXM00KO USD S&P INDEX OPTIONS CALL OPTION 20000 $31,622,500.00
SXM00LJ USD S&P INDEX OPTIONS CALL OPTION 5000 $7,812,500.00
SXY00XJ USD S&P INDEX OPTIONS PUT OPTION ML00ZGLS8 12500 $16,725,000.00
SXZ00XJ USD S&P INDEX OPTIONS PUT OPTION 12500 $17,781,250.00
SANM0%20AS USD SANMINA CORP BOND 800907AC1 25000000 $10,455,624.64
SANM4.25%04R USD SANMINA CORP BOND 800907AB3 5000000 $10,991,470.15
SCG USD SCANA CORP HOLDING COMPANY COMMON STOCK 80589M102 147036 $4,544,331.39
SDLI USD SDL, INC COMMON STOCK 784076101 22183 $6,861,479.20
SEG USD SEAGATE TECHNOLOGY COMMON STOCK 811804103 679200 $46,864,800.00
VOY, USD SEAGRAMS CO LTD COMMON STOCK 811850205 265200 $13,882,573.57
SII USD SMITH INTERNATIONAL INC COMMON STOCK 832110100 155800 $12,707,437.51
SSCC USD SMURFIT-STONE CONTAINER CORP COMMON STOCK 832727101 130000 $1,560,000.00
SLR0%19R USD SOLECTRON BOND 834182AJ6 30000000 $22,183,115.23
SLR0%20R USD SOLECTRON BOND 834182AK3 18000000 $12,143,174.36
SOE,A USD SOUTHERN ENERGY, INC PREFERRED STOCK 78411Y104 30000 $1,989,375.01
SHQ00JF USD SOUTHTRUST CORPORATION CALL OPTION 20000 $650,094.60
SHQ00JG USD SOUTHTRUST CORPORATION CALL OPTION 50000 $1,776,745.90
SOTR USD SOUTHTRUST CORPORATION COMMON STOCK 844730101 60600 $1,905,112.50
SVRN USD SOVEREIGN BANCORP COMMON STOCK 845905108 380400 $3,518,700.00
FON USD SPRINT CORP COMMON STOCK 852061100 225000 $6,595,312.51
CMCSA,PCS USD SPRINT PCS PREFERRED STOCK 200300507 8305 $571,688.53
COX0.4259%20R USD SPRINT PCS BOND 224044AX5 25000000 $10,450,995.58
LMG3.75%30AR USD SPRINT PCS BOND 530715AK7 2000000 $1,545,100.13
PZS,R USD SPRINT PCS PREFERRED STOCK 224044503 100000 $7,306,631.25
STM0%09 USD STMICROELECTRONICS BOND 861012AB8 7500000 $9,951,004.33
SUB USD SUMMIT BANCORP COMMON STOCK 866005101 248800 $8,552,500.01
SHGE,7AR USD SUN HEALTHCARE PREFERRED STOCK 866749203 140000 $11,301.22
STI USD SUNTRUST BANK COMMON STOCK 867914103 254300 $12,683,212.51
SRY USD SURITY CAPITAL CORP COMMON STOCK 868666207 494800 $123,700.00
TDS USD TELE & DATA SYSTEMS COMMON STOCK 879433100 67100 $7,427,970.00
TERN5%07AS USD TERAYON COMMUNICATION SYSTEMS BOND 880775AA9 3500000 $2,322,999.93
TXI,5.5R USD TEXAS INDUSTRIES PREFERRED STOCK 873119200 200000 $6,055,292.81
DEX USD THE DEXTER CORPORATION COMMON STOCK 252165105 126800 $9,394,727.70
PIOG USD THE PIONEER GROUP, INC COMMON STOCK 723684106 103000 $4,528,781.26
TFT4.5%04A USD THERMO FIBERTEK BOND 88355WAA3 6000000 $5,133,161.16
TMO4.25%03A USD THERMO FIBERTEK BOND 883556AF9 17000000 $16,200,010.70
TWX USD TIME WARNER COMMON STOCK 887315109 434800 $34,057,884.00
TSS USD TOTAL SYSTEM SERVICES INC COMMON STOCK 891906109 115000 $1,933,437.50
TWR,6.75R USD TOWER AUTOMOTIVE PREFERRED STOCK 891706301 196000 $5,244,437.87
TWR5%04R USD TOWER AUTOMOTIVE BOND 891707AE1 9000000 $6,772,500.00
TXCC4.5%05AS USD TRANSWITCH CORPORATION BOND 894065AA9 4000000 $4,906,255.14
OIL USD TRITON ENERGY LTD COMMON STOCK G90751101 251800 $9,820,200.00
UNP6.25,28R USD UNION PACIFIC CORPORATION PREFERRED STOCK 907824403 250000 $10,034,025.11
UB USD UNIONBANCAL CORP COMMON STOCK 908906100 163700 $3,816,256.26
UBSI USD UNITED BANKSHARES INC OF W VA COMMON STOCK 909907107 98500 $1,933,062.51
UCL, USD UNOCOL PREFERRED STOCK 91528T207 175000 $8,529,217.44
USB USD US BANCORP DELEWARE COMMON STOCK 902973106 641100 $14,585,025.00
USM0%15 USD US CELLULAR CORP BOND 911684AA6 28000000 $18,571,014.01
UTI USD UTI ENERGY COMMON STOCK 903387108 33800 $1,508,325.01
UCU USD UTILICORP UNITED INC COMMON STOCK 918005109 125300 $3,246,053.13
VC USD VENCOR INC COMMON STOCK 92839U107 377000 $5,702,125.00
VZ USD VERIZON COMMUNICATIONS COMMON STOCK 92343V104 138300 $6,698,906.26
VIA USD VIACOM, INC. COMMON STOCK 925524100 17500 $1,045,625.00
VIA.B1 USD VIACOM, INC. COMMON STOCK 925524308 1460790 $85,456,215.00
XVF,R USD VODAFONE GROUP PREFERRED STOCK 58440J500 31965 $1,209,028.18
VSTR USD VOICESTREAM WIRELESS CORP COMMON STOCK 928615103 208826 $24,236,867.63
WM USD WASHINGTON MUTUAL SAVINGS BANK COMMON STOCK 939322103 222500 $8,858,281.25
WFT0%20AR USD WEATHERFORD INTERNATIONAL BOND 947074AA8 35000000 $20,059,375.01
WMK USD WEIS MARKETS, INC COMMON STOCK 948849104 298000 $11,826,875.01
WFC00VG USD WELLS FARGO & COMPANY PUT OPTION 60000 $1,982,765.62
WCBO USD WEST COAST BANCORP COMMON STOCK 952145100 264600 $3,158,662.50
WLL USD WILLAMETTE INDUSTRIES, INC COMMON STOCK 969133107 128000 $3,584,000.00
WCG, USD WILLIAMS COMMUNICATIONS GROUP PREFERRED STOCK 969455203 20000 $847,749.83
XEL USD XCEL ENERGY, INC COMMON STOCK 98389B100 140000 $3,852,187.50
XOXO1 USD XO COMMUNICATIONS COMMON STOCK 65333H707 971200 $34,174,100.01
YNR USD YOUNG AND RUBICAM COMMON STOCK 987425105 36600 $1,811,700.00
ZD USD ZIFF-DAVIS INC COMMON STOCK 989511100 608000 $4,940,000.00
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