<COVER PAGE>
Securities and Exchange Commission
FORM 13F-HR
Report for Calendar Year or Quarter Ended:(Quarter) 3/31/2000
Check here if Amendment [ ] : AMENDMENT NO
This Amendment (check only one) : [ ] is a restatement
[ ] adds a new holding
Institutional Investment Manager Filing this Report:
Name: SG Cowen Asset Management Inc.
Address: 560 Lexington Avenue
New York , NY 10022
Form 13F File Number:
The institutional investment manager filing this report and the
herein is true, correct and complete, and that it is understood that
person by whom it is signed hereby represents that the person signing
the report is authorized to submit it, that all information contained
all required items, statements, schedules, lists, and tables, are
considered integral parts of this form.
Person signing this report on behalf of reporting manager:
/s/William R. Church
__________________________
[William R. Church]
SG Cowen Asset Management Inc.
560 Lexington Avenue
Dated April 28,2000 New York , NY 10022
Report Type (Check Only One)
[x] 13F HOLDING REPORT. (Check here if all holdings of this reporting
manager are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in this
report, and all holdings are reported by other
reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for
this reporting manager are reported in this
report and a portion are reported by other
reporting manager(s).)
FORM 13F INFORMATION TABLE
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Name Title of Value Shrs or Put/InvestmentOther Voting Authority
Issuer Class CUSIP (x$1000)prn amt CallDiscretionManagerSole Shared None
20TH CENTURY INDS CALXXX COM 901272203 7783 362000 SOLE 362000 0 0
ACUSON CORP COM 005113105 15637 105586 SOLE 1022260 0 33600
ADVANTA CORP CL A COM 007942105 1247 61386 SOLE 57286 0 4100
AGL RESOURCES INC COM 001204106 790 43000 SOLE 43000 0 0
AGNICO-EAGLE MINES LTD COM 008474108 556 100000 SOLE 43000 0 57000
AGRIUM INC COM 008916108 1446 179419 SOLE 174419 0 5000
AIR PDTS & CHEMICALS INC COM 009158106 1932 67945 SOLE 49590 0 18355
ALABAMA POWER CO 7% PFD 010392637 853 42000 SOLE 20000 0 22000
ALBERTSONS INCORPORATED COM 013104104 886 28700 SOLE 20650 0 8050
ALLEGHENY ENERGY INC COM 017361106 969 35000 SOLE 35000 0 0
ALLEGIANCE TELECOM INC COM 01747T102 1868 23173 SOLE 22573 0 600
ALLIANCE BANCORP COM 01852J105 1652 92745 SOLE 91145 0 1600
ALLMERICA FINL CORP COM 019754100 2319 45478 SOLE 44278 0 1200
ALLSTATE CORP COM 020002101 3680 147620 SOLE 135910 0 11710
ALLSTATE CORP 7.125% PFD 020002200 320 15000 SOLE 0 0 15000
ALLSTATE FIN I PFD 020013207 664 29500 SOLE 0 0 29500
AMEREN CORPORATION COM 023608102 4641 150000 SOLE 150000 0 0
AMERICAN INTL GROUP INC COM 026874107 7573 69161 SOLE 64360 0 4801
AMERITRADE HLDG CRP CL A COM 03072H109 209 10000 SOLE 5000 0 5000
ANDREA ELECTRONICS CORP COM 034393108 224 20000 SOLE 0 0 20000
APACHE CORP COMMON COM 037411105 16413 331210 SOLE 317265 0 13945
ARTHUR J GALLAGHER & CO COM 363576109 2119 65200 SOLE 55600 0 9600
ARTISOFT INC COM 04314L106 1508 125000 SOLE 121400 0 3600
AT&T CORP COM 001957109 9098 161567 SOLE 148640 0 12927
AVON PRODUCTS INC COM 054303102 5212 178205 SOLE 164220 0 13985
BAKER HUGHES INC COM 057224107 13439 444250 SOLE 417815 0 26435
BANCWEST CORP COM 059790105 1801 91200 SOLE 88600 0 2600
BANK OF AMERICA CORP COM 060505104 5380 102600 SOLE 94900 0 7700
BARNES & NOBLE INC COM 067774109 3305 140990 SOLE 140990 0 0
BARR LABORATORIES INC COM 068306109 392 10030 SOLE 7330 0 2700
BARRETT RES CRP COM 068480201 630 20000 SOLE 10000 0 10000
BASIN EXPLORATION INC COM 070107107 1643 100000 SOLE 73500 0 26500
BATTLE MTN GOLD CO COM 071593107 3240 167015 SOLE 1493750 0 176400
BAXTER INTL INC COM 071813109 3928 62650 SOLE 58000 0 4650
BEAR STEARNS CAP TR II PFD 07383J209 438 20000 SOLE 0 0 20000
BELLWETHER EXPLRTN CONEW COM 079895207 2448 352719 SOLE 320119 0 32600
BERKLEY W R CORPORATION COM 084423102 9270 402000 SOLE 402000 0 0
BESTFOODS COM 08658U101 1259 26905 SOLE 19540 0 7365
BETHLEHEM STEEL CORP COM 087509105 2647 441107 SOLE 424207 0 16900
BEVERLY ENTERPRISES COM 087851309 2234 605327 SOLE 578627 0 26700
BIRMINGHAM STL CORP COM 091250100 2972 579305 SOLE 561805 0 17500
BNY CAP II TOPRS PFD 096564208 468 20000 SOLE 0 0 20000
BNY CAP TR IV PFD 6.875% PFD 09656G201 420 20000 SOLE 0 0 20000
BORDERS GROUP INC COM 099709107 2216 128890 SOLE 128890 0 0
BOSTON LIFE SCIENCES COM 100843408 1123 124000 SOLE 113000 0 11000
BRISTOL MYERS SQUIBB CO COM 110122108 1291 22345 SOLE 17815 0 4530
BROOKS AUTOMATIC INC COM 11434A100 5778 92455 SOLE 89555 0 2900
BURLINGTON RESOURCES INC COM 122014103 2860 75890 SOLE 52555 0 23335
BUSH BOAKE ALLEN INC COM 123162109 973 35000 SOLE 35000 0 0
CABOT OIL&GAS CORP CL A COM 127097103 2934 162432 SOLE 149832 0 12600
CALGON CARBON CORP COM 129603106 15276 232865 SOLE 2040258 0 288400
CALLAWAY GOLF CO COM 131193104 3212 207240 SOLE 200740 0 6500
CALLON PETROLEUM CO COM 13123X102 607 50000 SOLE 25000 0 25000
CAMPBELL SOUP COMPANY COM 134429109 720 23430 SOLE 16930 0 6500
CAROLINA PWR & LIGHT CO COM 144141108 4158 128170 SOLE 116090 0 12080
CARTER-WALLACE INC COM 146285101 2563 136711 SOLE 125611 0 11100
CELL THERAPEUTICS INC COM 150934107 1658 70740 SOLE 68840 0 1900
CERIDIAN CORP COM 15677T106 3573 186200 SOLE 180800 0 5400
CHASE CAPITAL IV TR PFD PFD 16147N208 864 40000 SOLE 0 0 40000
CHUBB CORP COM 171232101 8334 117355 SOLE 99865 0 17490
CINERGY CORP COM 172474108 7879 366485 SOLE 339560 0 26925
CITIGROUP CAP IV PFD 17305J203 825 40000 SOLE 20000 0 20000
CK WITCO CORP COM 12562C108 2098 205840 SOLE 205840 0 0
CLAIRES STORES INC COM 179584107 4017 200227 SOLE 194427 0 5800
CMS ENERGY CORP COM 125896100 801 44185 SOLE 32185 0 12000
CNH GLOBAL NV COM N20935107 2399 242779 SOLE 227879 0 14900
COASTAL CORP COM 190441105 1217 26450 SOLE 25000 0 1450
COFLEXIP COM 192384105 4888 92319 SOLE 82119 0 10200
COLUMBIA/HCA HLTHCRE CRP COM 197677107 3836 151570 SOLE 139910 0 11660
COMPAQ COMPUTER CORP COM 204493100 5936 220035 SOLE 203110 0 16925
COMPUTER ASSOC INTL INC COM 204912109 4225 70769 SOLE 65180 0 5589
CONOCO INC COM 208251306 5399 219200 SOLE 202400 0 16800
CONSTELLATION ENERGY COM 210371100 2616 82050 SOLE 81650 0 400
COVENTRY HEALTH CARE INC COM 222862104 2800 329364 SOLE 319164 0 10200
CRACKER BARREL OLD COM 224100107 6580 658000 SOLE 658000 0 0
CREATIVE TECH LTD CO COM Y1775U107 2602 81940 SOLE 78040 0 3900
CROWN CORK&SEAL CO INC COM 228255105 6412 370780 SOLE 346410 0 24370
CUMMINS ENGINE CO INC COM 231021106 1866 49680 SOLE 45730 0 3950
DAWSON GEOPHYSICAL CO COM 239359102 302 30000 SOLE 15000 0 15000
DEAN FOODS CO COMMON COM 242361103 992 37075 SOLE 32975 0 4100
DEVON ENERGY CORP COM 251799102 4628 97300 SOLE 89200 0 8100
DIEBOLD INCORPORATED COM 253651103 8789 319610 SOLE 310510 0 9100
DPL INC COM 233293109 492 22190 SOLE 14495 0 7695
DUKE CAP FIN TR II PFD 26439E204 423 20000 SOLE 0 0 20000
DUKE ENRGY CAP TR I PFD PFD 264396201 383 18000 SOLE 0 0 18000
EASTMAN KODAK COMPANY COM 277461109 4546 83710 SOLE 77080 0 6630
EDISON SCHOOLS INC COM 281033100 6983 341250 SOLE 315950 0 25300
EIX TR I CUM QUIPS PFD 268540200 530 25000 SOLE 0 0 25000
EL PASO ENERGY CORP DEL COM 283905107 6060 153645 SOLE 144640 0 9005
ENRON CAPITAL LLC PFD PFD P37307108 1403 60000 SOLE 60000 0 0
ENRON OIL & GAS CO COM 293562104 1725 75000 SOLE 50000 0 25000
ENSCO INTL INC COM 26874Q100 3487 96520 SOLE 95120 0 1400
ENTRUST TECHNOLOGIES INC COM 293848107 1669 19621 SOLE 18921 0 700
EVEREST REINS HLDGS COM 299808105 8582 263000 SOLE 263000 0 0
EVERGREEN RES INC COM 299900308 4838 199400 SOLE 194300 0 5100
FANNIE MAE COM 313586109 2196 38820 SOLE 36420 0 2400
FEDERATED DEPT STORES COM 31410H101 2853 67530 SOLE 61780 0 5750
FEDL HOME LN MTG CORP PFD 313400871 897 39000 SOLE 20000 0 19000
FEDL HOME LOAN MTG CORP COM 313400301 1971 44605 SOLE 42950 0 1655
FELCOR LODGING TR INC COM 31430F101 1233 68967 SOLE 66567 0 2400
FIDELITY NATL FINL INC COM 316326107 1349 97700 SOLE 94900 0 2800
FLOWERS INDUSTRIES INC COM 343496105 1872 123217 SOLE 119617 0 3600
FOREST OIL CORP COM 346091606 5699 536088 SOLE 520188 0 15900
FOUNDATION HLTH SYS INC COM 350404109 5046 630700 SOLE 630300 0 400
FPC CAP I 7.1% PFD 302552203 203 10000 SOLE 0 0 10000
FREMONT GENERAL CORP COM 357288109 638 100000 SOLE 70000 0 30000
GALILEO TECH LTD COM M47298100 274 15000 SOLE 7500 0 7500
GENERAL MILLS INC COM 370334104 800 22100 SOLE 16050 0 6050
GENTA INC COM 37245M207 2491 257060 SOLE 249660 0 7400
GENUS INC COM 372461103 1327 95610 SOLE 83410 0 12200
GENZYME CORP MOLECULAR COM 372917500 2540 167870 SOLE 163270 0 4600
GEORGIA CAP TR IV PFD PFD 37333R209 200 10000 SOLE 0 0 10000
GLOBAL INDS LTD COM 379336100 215 14700 SOLE 11800 0 2900
GLOBAL MARINE INC COM 379352404 8368 329727 SOLE 287627 0 42100
GREY WOLF INC COM 397888108 3985 101153 SOLE 849830 0 161700
GUARANTY BANCSHARES INC COM 400764106 205 20000 SOLE 20000 0 0
GULF CANADA RES LTD ORDF COM 40218L305 332 90000 SOLE 70000 0 20000
HALLIBURTON COMPANY COM 406216101 2268 55145 SOLE 41985 0 13160
HARTFORD FINL SVCS GROUP COM 416515104 1137 21550 SOLE 15500 0 6050
HARTMARX CORP COM 417119104 1482 539000 SOLE 539000 0 0
HEARTLAND PARTNERS L P COM 422357103 837 38573 SOLE 34273 0 4300
HILLENBRAND IND INC COM 431573104 10540 310000 SOLE 310000 0 0
HOMESTAKE MINING COMPANY COM 437614100 7349 122486 SOLE 1050262 0 174600
HORACE MANN EDUCATRS CRP COM 440327104 1961 106339 SOLE 103439 0 2900
HS RESOURCES INC COM 404297103 6494 312353 SOLE 297553 0 14800
HUBBELL INC CL B COM 443510201 3094 113000 SOLE 113000 0 0
HUMANA INC COM 444859102 9533 130411 SOLE 1239410 0 64700
ILEX ONCOLOGY INC COM 451923106 973 24000 SOLE 21400 0 2600
IMC GLOBAL INC COM 449669100 2291 155926 SOLE 146926 0 9000
INDEPENDENT ENERGY COM 45384X108 539 12000 SOLE 12000 0 0
INFO RESOURCES INC COM 456905108 1603 200365 SOLE 194665 0 5700
INTERSTATE BAKERIES COM 46072H108 4966 348475 SOLE 342825 0 5650
IOMEGA CORP COM 462030107 948 248800 SOLE 199500 0 49300
ITT HARTFORD CAP PFD7.7% PFD 416315208 422 19500 SOLE 0 0 19500
IXL ENTERPRISES INC COM 450718101 1756 62720 SOLE 61020 0 1700
KAISER ALUMINUM CORP COM 483007100 2099 466516 SOLE 439916 0 26600
KAN CTY SOUTHRN IND INC COM 485170104 859 10000 SOLE 10000 0 0
KEYSPAN CORP COM 49337W100 3804 137695 SOLE 117020 0 20675
KEYSPAN ENERGY COM 49337K106 7106 257200 SOLE 257000 0 200
KINDER MORGAN INC COM 494553100 2001 58000 SOLE 58000 0 0
KIRBY CORP COM 497266106 2899 146792 SOLE 143292 0 3500
LEH BROS HLDGS CAP TR I PFD 52518B200 226 10000 SOLE 0 0 10000
LEHMAN BROTHERS HLDGS PFD 52518G209 1134 50000 SOLE 20000 0 30000
LIBERTY FINL COS INC COM 530512102 4774 241000 SOLE 241000 0 0
LITTON INDUSTRIES INC COM 538021106 2563 58000 SOLE 58000 0 0
LO JACK CORP COM 539451104 1291 166545 SOLE 155945 0 10600
LOCKHEED MARTIN CORP COM 539830109 3359 164345 SOLE 130445 0 33900
LTV CORP COM 501921100 3778 106124 SOLE 1012545 0 48700
LUBRIZOL CORP COM 549271104 3911 135750 SOLE 135000 0 750
MADISON GAS&ELECTRIC CO COM 557497104 1931 108000 SOLE 108000 0 0
MANOR CARE INC COM 564055101 7296 540480 SOLE 479980 0 60500
MARINE DRILLING COS COM 568240204 4310 157054 SOLE 150254 0 6800
MATRIA HEALTHCARE INC COM 576817100 206 38880 SOLE 5880 0 33000
MATTEL INCORPORATED COM 577081102 6400 601020 SOLE 539810 0 61210
MAXTOR CORP COM 577729106 5026 388400 SOLE 377300 0 11100
MC CORMICK & CO INC COM 579780206 1205 37375 SOLE 27520 0 9855
MCDONALDS CORP PFD 580135887 607 26700 SOLE 0 0 26700
MCN ENERGY GROUP INC COM 55267J100 13522 540868 SOLE 528968 0 11900
MEDIA GENERAL INC CL A COM 584404107 1312 25050 SOLE 24350 0 700
MENTOR CORPORATION MINN COM 587188103 912 33790 SOLE 33790 0 0
MENTOR GRAPHICS CORP COM 587200106 1315 86884 SOLE 80584 0 6300
MERCURY GENERAL CORP COM 589400100 4404 149300 SOLE 149300 0 0
MERIDIAN RES CORP COM 58977Q109 250 64400 SOLE 35000 0 29400
MERRILL LYNCH PFD 589977206 605 26000 SOLE 0 0 26000
MESSAGEMEDIA INC COM 590787107 1296 102090 SOLE 92090 0 10000
MICHAELS STORES INC COM 594087108 5385 132139 SOLE 125739 0 6400
MICRO THERAPEUTICS INC COM 59500W100 1000 148080 SOLE 107980 0 40100
MID ATLANTIC MED SVC INC COM 59523C107 29448 318359 SOLE 2923296 0 260300
MILLER BUILDING SYS INC COM 600404107 325 57800 SOLE 45800 0 12000
MOOG INC CL A COMMON COM 615394202 714 38825 SOLE 38125 0 700
MOTOROLA CAP TR I 6.68% PFD 620074203 351 16900 SOLE 16900 0 0
MUTUAL RISK MGMT LTD COM 628351108 8952 394990 SOLE 372090 0 22900
MYLAN LABORATORIES INC COM 628530107 18642 665890 SOLE 636105 0 29785
NABORS INDS INC COM 629568106 4905 130912 SOLE 106095 0 24817
NATIONAL FUEL GAS CO COM 636180101 1018 22850 SOLE 22450 0 400
NATIONAL STL CORP CL B COM 637844309 958 129866 SOLE 126566 0 3300
NATIONWIDE FINL SVCS CAP PFD 63861E204 403 20000 SOLE 20000 0 0
NATL COMMERCE BANCORP COM 635449101 1826 98700 SOLE 95900 0 2800
NATL RURAL UTIL COOP PFD 637432303 440 20000 SOLE 0 0 20000
NCR CORP NEW COM 62886E108 5012 124904 SOLE 115265 0 9639
NETBANK INC COM 640933107 1333 102500 SOLE 96500 0 6000
NEW CENTURY ENERGIES INC COM 64352U103 3117 103675 SOLE 94110 0 9565
NEWELL RUBBERMAID INC COM 651229106 1829 73715 SOLE 55340 0 18375
NEWFIELD EXPLORATION CO COM 651290108 353 10000 SOLE 4000 0 6000
NEWMONT MINING CORP COM 651639106 8008 356881 SOLE 322220 0 34661
NEWPORT NEWS SHIPBLDG COM 652228107 14220 470092 SOLE 449292 0 20800
NIAGARA MOHAWK HLDGS INC COM 653520106 7061 523000 SOLE 523000 0 0
NICOR INC COM 654086107 3986 121000 SOLE 121000 0 0
NOBLE AFFILIATES INC COM 654894104 15305 466470 SOLE 440980 0 25490
NORDSTROM INC COM 655664100 1008 34180 SOLE 28480 0 5700
NORTHRIM BANK ALASKA COM 666764105 402 48753 SOLE 48753 0 0
NORTHROP GRUMMAN CORP COM 666807102 8148 153910 SOLE 145700 0 8210
NUEVO ENERGY COMPANY COM 670509108 7582 352642 SOLE 306242 0 46400
OCEAN ENERGY INC TEXAS COM 67481E106 26613 185068 SOLE 1713241 0 137440
OCEANEERING INTL INC COM 675232102 16168 862284 SOLE 772384 0 89900
OFFICEMAX INC COM 67622M108 2061 317000 SOLE 317000 0 0
OFFSHORE LOGISTICS INC COM 676255102 2974 214258 SOLE 203258 0 11000
OLIN CORP COM 680665205 3134 176548 SOLE 163348 0 13200
OSHKOSH B GOSH INC CL A COM 688222207 2807 155953 SOLE 153353 0 2600
OXY CAP TR I 8.16% PFD 692070204 410 20000 SOLE 0 0 20000
PAC TELESIS FING I PFD 694887209 308 14000 SOLE 0 0 14000
PACIFICARE HTLH SYS COM 695112201 6021 120700 SOLE 120700 0 0
PENNACO ENERGY INC COM 708046107 1346 98350 SOLE 95550 0 2800
PENNEY J C CO INC COM 708160106 998 67065 SOLE 48280 0 18785
PETROCHINA CO LTD COM 71646E100 493 30000 SOLE 30000 0 0
PETROLEUM GEO-SERVICES COM 716597109 3870 223542 SOLE 214642 0 8900
PHELPS DODGE CORPORATION COM 717265102 5514 116368 SOLE 109021 0 7347
PIONEER NATL RES CO COM 723787107 16488 157032 SOLE 1463283 0 107045
PLACER DOME INC COM 725906101 2182 268390 SOLE 181790 0 86600
POTASH CORP COM 73755L107 9776 190226 SOLE 179064 0 11162
PRECISION DRILLING CRP COM 74022D100 5026 150574 SOLE 123474 0 27100
PRIDE INTL INC COM 741932107 7613 334754 SOLE 319854 0 14900
PROVIDENCE ENERGY CORP COM 743743106 721 19000 SOLE 2000 0 17000
PUGET SOUND ENERGY INC COM 745332106 3595 162000 SOLE 162000 0 0
PWG CAP TR II SECS PFD 69366F208 671 30000 SOLE 0 0 30000
QUAKER OATS CO COM 747402105 4842 79870 SOLE 69450 0 10420
QUEST DIAGNOSTICS INC COM 74834L100 1205 30320 SOLE 29520 0 800
QUESTAR CORP COM 748356102 4677 252000 SOLE 252000 0 0
R&B FALCON CORP COM 74912E101 1197 60800 SOLE 37800 0 23000
RAYTHEON CO CL B COM 755111408 1474 83050 SOLE 61000 0 22050
RAZORFISH INC CL A COM 755236106 455 16546 SOLE 16148 0 398
READERS DIGEST ASSN INC COM 755267101 21770 615335 SOLE 582075 0 33260
RENAISSANCERE HLDGS LTD COM G7496G103 2118 32900 SOLE 29400 0 3500
REPUBLIC SECURITY FINL COM 760758102 722 110000 SOLE 110000 0 0
ROWAN COMPANIES INC COM 779382100 4587 161904 SOLE 136204 0 25700
RPM INCORPORATED OHIO COM 749685103 6939 600850 SOLE 588200 0 12650
SAFECO CORP COM 786429100 1678 63160 SOLE 45740 0 17420
SALESLOGIX CORP COM 79466P105 1053 38900 SOLE 37800 0 1100
SANTA FE INTL CORP COM G7805C108 5138 140864 SOLE 125464 0 15400
SANTA FE SNYDER CORP COM 80218K105 25793 271501 SOLE 2497216 0 217795
SAP AKTIENGESELLSCHAFT COM 803054204 3462 57935 SOLE 52920 0 5015
SARA LEE CORP COM 803111103 1736 96445 SOLE 71730 0 24715
SAVANNAH ELEC CAP TR I PFD 804788206 587 30000 SOLE 20000 0 10000
SCANA CORP COM 80589M102 1084 44122 SOLE 37584 0 6538
SCC COMMUNICATIONS CORP COM 78388X105 935 93500 SOLE 93500 0 0
SCHLUMBERGER LTD COM 806857108 1072 14015 SOLE 13330 0 685
SCHOLASTIC CORP COM 807066105 7875 142880 SOLE 134490 0 8390
SEAGATE TECHNOLOGY INC COM 811804103 3512 56895 SOLE 52450 0 4445
SEARS ROEBUCK ACCEP CORP PFD 812404309 405 20000 SOLE 20000 0 0
SEARS ROEBUCK ACCEPT PFD 812404200 2382 118000 SOLE 65000 0 53000
SEMPRA ENERGY COM 816851109 704 42015 SOLE 30520 0 11495
SIERRA HEALTH SVCS INC COM 826322109 3851 749500 SOLE 749500 0 0
SONOCO PRODUCTS CO COM 835495102 460 20000 SOLE 20000 0 0
SPINNAKER EXPLORATION CO COM 84855W109 4241 186400 SOLE 176200 0 10200
SPORTS AUTHORITY INC COM 849176102 1073 419040 SOLE 407140 0 11900
ST JUDE MEDICAL INC COM 790849103 3392 129330 SOLE 121770 0 7560
ST PAUL COMPANIES INC COM 792860108 10977 321624 SOLE 293974 0 27650
STANLEY WORKS COM 854616109 1754 66490 SOLE 64790 0 1700
STOLT COMEX SEAWAY COM L8873E103 1372 98000 SOLE 49000 0 49000
STONE & WEBSTER INC COM 861572105 1475 101712 SOLE 100512 0 1200
STORAGE USA INC COM 861907103 1373 44820 SOLE 43520 0 1300
SUN CO INC COM 866762107 274 10000 SOLE 5000 0 5000
SWIFT ENERGY CO COM 870738101 2235 125000 SOLE 107000 0 18000
TASTY BAKING CO COM 876553306 1880 175872 SOLE 164047 0 11825
TECK CORP CL B COM 878742204 1622 224280 SOLE 221780 0 2500
TECO ENERGY INC COM 872375100 7859 404270 SOLE 389025 0 15245
TEKTRONIX INCORPORATED COM 879131100 7759 138556 SOLE 131856 0 6700
TELEDYNE TECH INC COM 879360105 5496 315996 SOLE 311550 0 4446
TEXACO CAPITAL LLC PFD P9132Z107 334 16000 SOLE 0 0 16000
TEXACO INCORPORATED COM 881694103 1879 34960 SOLE 26835 0 8125
TEXAS INDUSTRIES INC COM 882491103 463 14653 SOLE 14653 0 0
TIDEWATER INC COM 886423102 5152 161950 SOLE 150800 0 11150
TORCHMARK CORP COM 891027104 1526 65995 SOLE 50425 0 15570
TOYS "R" US INC COM 892335100 2782 135980 SOLE 125480 0 10500
TRANS WORLD ENTERTAINMNT COM 89336Q100 4154 415407 SOLE 403507 0 11900
TRANSAMERICA FIN CORP PFD 893950204 208 10000 SOLE 10000 0 0
TRANSATLANTIC HLDGS INC COM 893521104 4600 53800 SOLE 53800 0 0
TRANSCDA PIPELINE PFD 893526756 223 10000 SOLE 0 0 10000
TRANSOCEAN OFFSHORE COM 893817106 5417 105800 SOLE 102700 0 3100
TRANSOCEAN SEDCO FOREX COM G90078109 1812 35324 SOLE 30451 0 4873
TRANSPORT CORP AMERICA COM 89385P102 833 170703 SOLE 133103 0 37600
TRIAD HOSPITAL INC COM 89579K109 1638 97790 SOLE 94890 0 2900
TRICO MARINE SVCS INC COM 896106101 1022 116000 SOLE 93000 0 23000
TYCO TOYS INC COM 902128107 682 51000 SOLE 34000 0 17000
TYSON FOODS INC CL A COM 902494103 5359 481505 SOLE 462670 0 18835
U S X-US STEEL GROUP COM 90337T101 6960 231870 SOLE 221110 0 10760
ULTRAMAR DIAMOND SHAMRCK COM 904000106 4183 164805 SOLE 148445 0 16360
UNIFI INC COM 904677101 5385 572300 SOLE 572000 0 300
UNION BANCORP INC COM 908908106 344 29300 SOLE 22700 0 6600
UNION PAC RES GRP INC COM 907834105 3891 268600 SOLE 263600 0 5000
UNISYS CORP COM 909214108 3064 100420 SOLE 91940 0 8480
UNITED HEALTHCARE CORP COM 910581107 5229 87695 SOLE 78655 0 9040
UNITED TECHNOLOGIES CORP COM 913017109 7393 111630 SOLE 100460 0 11170
UNOCAL CORP COM 915289102 982 33000 SOLE 18000 0 15000
UNUM CORP COM 903192102 8221 485300 SOLE 485300 0 0
UNUMPROVIDENT CORP COM 91529Y106 2096 123730 SOLE 82105 0 41625
US AIRWAYS GROUP INC COM 911905107 4053 145725 SOLE 132600 0 13125
UTI ENERGY CORP COM 903387108 393 10400 SOLE 0 0 10400
UTILICORP UNITED INC COM 918005109 4222 233792 SOLE 219206 0 14586
VARCO INTERNATIONAL INC COM 922126107 3534 299800 SOLE 243800 0 56000
VERITAS DGC INC COM 92343P107 5148 187860 SOLE 171560 0 16300
WASH RL EST INV TR SBI COM 939653101 1176 78425 SOLE 76025 0 2400
WASHINGTON GAS LIGHT CO COM 938837101 4273 157170 SOLE 155870 0 1300
WATSON PHARM INC COM 942683103 7801 196545 SOLE 189190 0 7355
WEATHERFORD INTL INC COM 947074100 6621 113580 SOLE 100650 0 12930
WEC CAP TR I PFD 6.85% PFD 92923G204 1019 50000 SOLE 35000 0 15000
WESTERN GAS RES INC COM 958259103 5892 381232 SOLE 337032 0 44200
WILLBROS GRP INC COM 969199108 428 60000 SOLE 15000 0 45000
WILLIS LSE FIN CORP COM 970646105 202 33000 SOLE 33000 0 0
WILSHIRE ST BK CALIF COM 97200A101 281 30500 SOLE 28500 0 2000
XL CAPITAL LTD SHS A COM G98255105 2391 43180 SOLE 35780 0 7400
YORK INTL CORP COM 986670107 2332 99750 SOLE 91580 0 8170
ZIFF-DAVIS INC ZD COM 989511100 2806 179540 SOLE 165370 0 14170
ZIFF-DAVIS INC ZDNET COM 989511209 994 46790 SOLE 45290 0 1500
</TABLE>
