FORM 13F
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F COVER PAGE
If amended report check here [ ]
Name of Institutional Investment Manager:
Forest Investment Management, LLC
13F File Number:
28-7052
Business Address (Street, City, State and Zip Code):
53 Forest Avenue, Old Greenwich, CT 06870
Name, Phone, and Title of Person Authorized to Submit
This Report:
Michael A. Boyd, (203) 637-7773
Report for the Calendar Year or Quarter Ended:
June 30, 1999
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 the Securities
Exchange Act of 1934, the undersigned institutional
investment manager has caused this report to be signed
on its behalf in the City of Old Greenwich, State of
Connecticut on the 30th day of April, 1999.
FOREST INVESTMENT MANAGEMENT, LLC
By: Michael A. Boyd, Chairman
Report Type:
13F Holdings Report
List of other managers reporting for this manager:
NA
Summary Page
Report Summary:
Other Managers: NA
Information Table Entry Total:163
Information Table Value Total:$983,846
<TABLE> <C> <C>
Name of Issuer Title of Class Cusip Fair Shares of Investment DiscretManagers Voting Authority
Market ValuePrincipal AmSole Shared None Sole Shared None
ACTION PERFORMANCE COS INC SB NT CV 4.7 004933AB3 11,236,737 12,071,000x NA x
ACTIVISION INC NEW SUB NT CV 14 004930AA1 949,193 1,000,000x NA x
ADAPTIVE BROADBAND CORP DEB CONV 5.2 00650MAA2 4,895,101 5,317,000x NA x
ADELPHIA COMMUNICATIONS CORP PFD CV SER D 6848402 7,736,560 40,000x NA x
AES CORP WT EXP 0731 00130H113 6,190,738 70,150x NA x
AFFILIATED COMPUTER SERVICES SB NT CV 008190AD2 2,667,676 2,000,000x NA x
AIRTOUCH COMMUNICATIONS INC PFD C CV 4.2 00949T308 1,482,840 10,000x NA x
ALKERMES INC PFD CV EX$3. 01642T405 11,654,296 243,050x NA x
ALPHARMA INC SB NT CV 5.7 020813AB7 2,058,075 1,500,000x NA x
ALZA CORP DEL SUB DB CONV 022615AD0 13,862,500 10,000,000x NA x
AMERICAN RETIREMENT CORP SB DB CV 5.7 028913AA9 9,287,272 11,900,000x NA x
APP FIN VI MAURITIUS LTD LYONS NT ZER 00202NAA3 545,118 3,000,000x NA x
ARCH COMMUNICATIONS GROUP INC SDBCV144A6.7 039381AA6 3,096,007 6,864,000x NA x
ARMCO INC PFD CVA $3.6 42170407 4,940,275 98,200x NA x
ARV ASSISTED LIVING INC SB NT CV 144 00204CAA5 4,853,335 11,743,000x NA x
ASPECT TELECOMMUNICATIONS CORP SD CV ZRO 14 045237AB0 3,255,150 15,000,000x NA x
ASSISTED LIVING CONCEPTS INC SUB DB CV 14 04543LAE9 2,692,250 4,895,000x NA x
AT HOME CORP SB DB CV 144 045919AA5 5,502,441 7,000,000x NA x
ATRIX LABS INC SB NT CV 144 04962LAA9 3,010,119 3,960,000x NA x
AVADO FING I TERM CV A $3 05336Q205 7,684,465 204,800x NA x
AVATAR HLDGS INC SUB NT CONV 053494AD2 1,519,066 1,700,000x NA x
AVIRON SB NT CV 5.7 053762AC4 2,142,414 2,000,000x NA x
BAKER J INC SUB NT CONV 057232AA8 8,200,541 9,775,000x NA x
BEA SYS INC SB NT CV 073325AB8 1,179,530 1,000,000x NA x
BLUEGREEN CORP SB DB CV 8.2 096231AA3 1,941,378 2,078,000x NA x
BRIGHTPOINT INC SB LYON ZERO 109473AC2 4,800,656 19,150,000x NA x
CALLON PETE CO DEL PFD A CV EXC 13123X201 2,186,250 82,500x NA x
C-CUBE MICROSYSTEMS INC SBNT CV 5.87 125015AA5 2,569,113 2,323,000x NA x
CELLSTAR CORP SUB NT CV 14 150925AA3 309,676 440,000x NA x
CELLSTAR CORP SUB NT CONV 150925AC9 4,234,631 6,020,000x NA x
CENTOCOR INC SB DB CV 4.7 152342AE1 19,539,012 17,550,000x NA x
CENTRAL GARDEN & PET CO SBNTCV 144A 153527AA4 581,636 750,000x NA x
CENTRAL GARDEN & PET CO SUB NT CONV 153527AC0 4,131,094 5,250,000x NA x
CHANCELLOR MEDIA CORP PFD CONV EX 158915405 8,868,058 80,250x NA x
CHARMING SHOPPES INC SB NT CV 7. 161133AA1 3,356,943 3,321,000x NA x
CHECKPOINT SYS INC SB DB CV 5.2 162825AB9 6,805,733 9,033,000x NA x
CHIEFTAIN INTL FDG CORP PFD CV $1.81 168672202 8,819,833 334,400x NA x
CHIQUITA BRANDS INTL INC PFD A NON VT 170032403 6,636,398 189,600x NA x
CINCINNATI FINL CORP SR CV DB 5. 172062AB7 15,114,179 5,988,000x NA x
CITIZENS UTILS TR PFD EPPICS C 177351202 1,522,624 32,000x NA x
CNET INC SB NT CV 144 125945AA3 33,293,870 9,771,000x NA x
CNF TR I TECONS SER A 12612V205 3,191,250 57,500x NA x
COEUR D ALENE MINES CORP IDAHO SB DB CV 7.2 192108AG3 1,899,969 3,155,000x NA x
COEUR D ALENE MINES CORP IDAHO SB DB CV 144 192108AF5 5,395,314 8,958,000x NA x
COMVERSE TECHNOLOGY INC SUB DB CV 4. 205862AG0 18,613,100 10,000,000x NA x
CONEXANT SYSTEMS INC SB NT CV 144 207142AA8 2,840,000 2,000,000x NA x
CRESCENT REAL ESTATE EQUITIES PFD CV A 6.7 225756204 2,537,700 150,000x NA x
DATA GEN CORP SUB NT CONV 237688AG1 5,379,553 6,150,000x NA x
DATA PROCESSING RES CORP SB NT CV 5.2 237823AB5 243,906 250,000x NA x
DEVELOPERS DIVERSIFIED RLTY CO SUB DB CONV 251591AA1 971,835 967,000x NA x
DOUBLECLICK INC SB NT CV 144 258609AA4 23,774,168 19,000,000x NA x
DRS TECHNOLOGIES INC SR SB DB CV 23330XAB6 7,345,248 6,086,000x NA x
EL PASO ENERGY CAP TR I PFD CV TR SE 283678209 9,739,320 200,000x NA x
EMCOR GROUP INC SB NT CV 5.7 29084QAC4 2,648,025 2,500,000x NA x
EMERITUS CORP SDCV144A 6.2 291005AA4 2,971,799 4,425,000x NA x
EQUITY RESIDENTIAL PPTYS TR PFD CV J $2. 29476L826 4,212,348 149,700x NA x
FAMILY GOLF CTRS INC SB NT CV 5.7 30701AAC0 10,528,966 16,953,000x NA x
FEDERATED DEPT STORES INC DEL WT C EX 1219 31410H119 2,075,025 75,800x NA x
FEDERATED DEPT STORES INC DEL WT D EX 1219 31410H127 2,642,120 100,000x NA x
FINANCIAL FED CORP SUB NT CV 4. 317492AC0 9,210,106 9,933,000x NA x
FIRST UN REAL EST EQ&MTG INVTS PFD CONV SER 337400303 276,388 12,900x NA x
FNB CORP PA PFD CV SER B 302520200 709,713 11,100x NA x
FREEPORT-MCMORAN COPPER & GOLD PFD CV 0.05S 35671D501 4,699,800 250,000x NA x
FUISZ TECHNOLOGIES LTD SB DB CV 359536AB5 1,665,735 3,481,000x NA x
FUISZ TECHNOLOGIES LTD SB DB CV 144 359536AA7 1,684,478 3,520,000x NA x
GENZYME CORP SB NT CV 5.2 372917AF1 22,716,854 16,300,000x NA x
GLOBAL TELESYSTEMS GROUP SRSB BD CV14 37936UAA2 2,025,003 500,000x NA x
GOLDEN ST BANCORP INC WT EXP 0821 381197128 1,888,388 136,100x NA x
GST TELECOMMUNICATIONS INC SSBDISC144AC 361942AA3 6,745,564 4,600,000x NA x
HALTER MARINE GROUP INC SR SB NTCV4. 40642YAC9 322,990 500,000x NA x
HEWLETT PACKARD CO SB LYON ZERO 428236AC7 3,231,399 5,065,000x NA x
HEXCEL CORP NEW SUB NT CV 428291AA6 9,156,620 10,000,000x NA x
HMT TECHNOLOGY CORP SB NT CV 5.7 403917AD9 5,349,027 13,810,000x NA x
HOMEBASE INC SB NT CV 144 43738EAA6 1,692,236 2,000,000x NA x
HOMEBASE INC SB NT CV 5.2 43738EAB4 5,990,784 7,080,000x NA x
HOWELL CORP PFD A CV $3. 443051206 2,551,280 100,000x NA x
HUTCHINSON TECHNOLOGY INC SB NT CV 448407AC0 13,937,067 11,930,000x NA x
ICO HLDGS INC PFD CV DEP 1 449293307 559,882 46,459x NA x
IMC GLOBAL INC WT EXP 1222 449669118 206,400 300,000x NA x
INCO LTD DEB CONV 5.7 453258AK1 575,388 625,000x NA x
INTERMAGNETICS GEN CORP SBDB144A 5.7 458771AB8 6,450,000 8,600,000x NA x
ITRON INC SB NT CV 144 465741AA4 262,961 383,000x NA x
ITRON INC SB NT CV 6.7 465741AC0 1,754,924 2,556,000x NA x
JACOR COMMUNUNICATIONS INC WT EXP 0918 469858146 4,221,754 914,968x NA x
JACOR COMMUNUNICATIONS INC SR LYON ZERO 469858AB0 5,600,000 10,000,000x NA x
KELLSTROM INDS INC SB NT CV 5.7 488035AC0 8,459,450 9,505,000x NA x
KMART FING I PFD TRCV 7.7 498778208 14,600,500 250,000x NA x
LABORATORY CORP AMER HLDGS PFD CV EXCH% 50540R201 632,200 10,900x NA x
LONE STAR INDS INC WT EXP 1231 542290119 24,554,867 434,100x NA x
LORAL SPACE & COMMUNICATIONS PFD CONV C 6 G56462149 5,034,300 100,000x NA x
MAGNA INTL INC SUB DEB CV 5 559222AE4 27,069,168 24,990,000x NA x
MARSH SUPERMARKETS INC SUB DB CONV 571783AB5 3,141,463 3,292,000x NA x
MASCOTECH INC SBDB CONV 4. 574670AB1 4,099,235 5,000,000x NA x
MEDIAONE GROUP INC PFD CV SER D 58440J203 3,729,750 25,000x NA x
MERCURY AIR GROUP INC SB DB CV 7.7 589354AA7 1,014,862 1,000,000x NA x
METROMEDIA INTL GROUP INC PFD CONV % 591695200 12,309,211 358,775x NA x
MICHAELS STORES INC SUB NT CV4.7 594087AC2 8,539,090 8,454,000x NA x
NABORS INDS INC SUB NT CONV 629568AA4 14,087,909 10,470,000x NA x
NATIONAL DATA CORP SUB NT CONV 635621AA3 6,138,408 6,000,000x NA x
NEXSTAR PHARMACEUTICALS INC SB DB CV 6.2 65333BAC0 5,106,136 4,000,000x NA x
NORTH AMERN VACCINE INC SB NT CV 144 657201AA7 284,596 750,000x NA x
NORTHWEST NAT GAS CO DEB CONV 7.2 667655AM6 885,548 740,000x NA x
OCCIDENTAL PETE CORP DEL PFD CV $3 C 674599790 9,413,400 162,300x NA x
PARK ELECTROCHEMICAL CORP SUBNT CV 5. 700416AB6 206,362 230,000x NA x
PENN TREATY AMERN CORP SB NT CV 144 707874AA1 4,196,518 4,100,000x NA x
PENN TREATY AMERN CORP SB NT CV 6.2 707874AC7 7,072,012 6,910,000x NA x
PERSONNEL GROUP AMER INC SB NT CV 5.7 715338AE9 7,625,871 9,000,000x NA x
PETSMART INC SB NT CV 6.7 716768AB2 18,435,567 14,090,000x NA x
PHILIPPINE LONG DISTANCE TEL SPN GLB DEP 718252703 14,188,173 272,000x NA x
PIER 1 IMPORTS INC SB NT CV 5.7 720279AF5 16,929,010 12,250,000x NA x
PIONEER FINL SVCS INC SUB NT CV 6. 723672AE1 13,802,258 11,926,000x NA x
PRIDE INTL INC SB DB CV 6.2 741932AA5 4,610,935 4,560,000x NA x
QUADRAMED CORP SB DB CV 5.2 74730WAC5 5,717,501 10,250,000x NA x
QUANEX CORP SB DB CV 6.8 747620AC6 7,283,451 6,919,000x NA x
QUINTILES TRANSNATIONAL CORP SB NT CV 4.2 748767AC4 5,615,749 5,025,000x NA x
RECKSON ASSOCS RLTY CORP PFD CV SER A 75621K205 1,670,599 74,100x NA x
REPTRON ELECTRONICS INC SB NT CV 6.7 76026WAA7 1,695,305 4,270,000x NA x
RES-CARE INC SR NT CONV 760943AC4 4,106,803 3,200,000x NA x
RES-CARE INC SB NT CV 144 760943AA8 5,605,022 4,365,000x NA x
ROBBINS & MYERS INC SUB NT CV 6. 770196AA1 12,185,990 12,362,000x NA x
ROUSE CO PFD CONV SER 779273309 2,784,866 68,975x NA x
SABRATEK CORP NT CV 78571UAA6 2,047,500 2,925,000x NA x
SBS BROADCASTING SA SB DB CV 7.2 805906AA2 14,667,060 12,924,000x NA x
SCHOLASTIC CORP SBDBCV 144A 807066AA3 1,421,795 1,500,000x NA x
SEACOR SMIT INC SUBNTCV 5.37 811904AE1 19,971,000 20,000,000x NA x
SEAGRAM LTD PFD ADJ CV S 811850205 2,003,752 40,000x NA x
SEALED AIR CORP NEW PFD CV A $2 81211K209 13,351,543 215,000x NA x
SENSORMATIC ELECTRS CORP PFD 1/10CV6. 817265200 4,536,328 199,650x NA x
SEPRACOR INC SB DB CV 6.2 817315AE4 6,273,918 3,400,000x NA x
SEQUA CORPORATION PFD CONV $5 817320302 11,316,300 112,600x NA x
SILICON GRAPHICS INC SR NT CV 5.2 827056AC6 6,068,146 7,000,000x NA x
SINCLAIR BROADCAST GROUP INC PFD CV EXCH 829226505 6,131,552 140,000x NA x
SKYTEL COMMUNICATIONS INC PFD CV EX$2. 83087Q302 1,844,365 50,000x NA x
SPACEHAB INC SB NT CV 144 846243AA1 394,662 600,000x NA x
SPEEDWAY MOTORSPORTS INC SB DB CV 5.7 847788AC0 2,792,464 1,993,000x NA x
SPORTSLINE USA INC SB NT CV 144 848934AA3 7,537,317 10,250,000x NA x
SPRINT CORP DECS EXCH 20 852061407 461,091 5,200x NA x
ST PAUL CAP L L C PFD MIPS 6% 792856205 2,887,850 50,000x NA x
STANDARD AUTOMOTIVE CORP PFD SR CV8.5 853097202 346,579 19,400x NA x
SUN HEALTHCARE GROUP INC SD CV 144A 866933AA2 320,100 2,910,000x NA x
SUNRISE ASSISTED LIVING INC SB NT CV 144 86768KAA4 1,112,500 1,000,000x NA x
SUNRISE ASSISTED LIVING INC SUB NT CV 5. 86768KAC0 14,673,875 13,190,000x NA x
SYNETIC INC SUB DB CONV 87160FAB5 13,268,500 11,150,000x NA x
SYSTEM SOFTWARE ASSOC INC SB NT CV 7% 871839AA4 1,129,477 3,190,000x NA x
SYSTEMS & COMPUTER TECHNOLOGY SUB DB CONV 871873AB1 4,079,250 4,900,000x NA x
TELXON CORP SUB DB CV 7. 879700AA0 454,724 760,000x NA x
TESORO PETE CORP PIES CV 1/10 881609408 1,450,176 92,800x NA x
THERMOQUEST CORP GTDSDCV 144A 883655AA0 1,905,025 1,860,000x NA x
TITAN CORP SB DB CV 8.2 888266AA1 4,848,552 1,552,000x NA x
TOWER AUTOMOTIVE INC SB NT CV 891707AE1 8,938,104 8,000,000x NA x
U S DIAGNOSTIC INC SRSBDBCV144A 90328QAA6 454,358 734,000x NA x
UNISYS CORP PFD A CV $3. 909214207 9,706,009 148,466x NA x
UNITED STATES CELLULAR CORP LYON ZERO 911684AA6 6,263,592 12,000,000x NA x
VERITAS SOFTWARE CO SB NT CV 5.2 923436AB5 5,583,258 2,348,000x NA x
VETERINARY CTRS AMER INC SB DB CV 5.2 925514AB7 3,587,500 5,000,000x NA x
WALBRO CAP TR PFD CONV TR 931152201 6,441,600 244,000x NA x
WENDYS FING I TECONS SER A 950588202 2,502,313 41,700x NA x
WESTERN DIGITAL CORP SD CV ZERO14 958102AF2 3,017,500 17,000,000x NA x
WESTERN DIGITAL CORP SB DB CV ZER 958102AH8 3,084,950 17,380,000x NA x
WHX CORP PFD CV SER A 929248201 14,663,328 458,229x NA x
WMX TECHNOLOGIES INC SUB NTS CV 92929QAF4 16,354,440 15,000,000x NA x
WORLD ACCESS INC SB NT CV 4. 98141AAC5 2,623,550 3,830,000x NA x
WORLD ACCESS INC SB DB CV 144 98141AAA9 4,651,150 6,790,000x NA x
983,846,308 774,032,672
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