<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: September 30, 1999
------------------
Check here if Amendment [ ]; Amendment Number: _______
This Amendment [Check only one.]: [ ] is a restatement
[ ] adds new holdings entries
Institutional Investment Manager Filing this Report:
Name: Canyon Capital Advisors LLC
-----------------------------------------
Address: 9665 Wilshire Boulevard, Suite 200
-----------------------------------------
Beverly Hills, CA 90212
-----------------------------------------
-----------------------------------------
Form 13F File Number: 28-7392
-------------
The institutional 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, lists, and tables, are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: R. Christian B. Evensen
-----------------------------------------
Title: Managing Director
-----------------------------------------
Phone: (310) 247-2700
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-----------------------------------------
Signature, Place and Date of Signing:
/s/ R. Christian B. Evensen Beverly Hills, CA November 15, 1999
- --------------------------- ----------------- -----------------
[Signature] [City, State] [Date]
Report Type (Check only one):
[ X] 13F HOLDINGS REPORT. (Check here is all holdings of this reporting
manager are reported in this report.)
[ ] 13F NOTICE. (Check here is no holdings reported are in this report,
and all holdings are reported by other reporting manager(s)).
<PAGE>
[ ] 13F COMBINATION REPORT. (Check here is a portion of the holdings for
this reporting manager are reported in this report and a portion are
reported by other reporting manager(s).)
Report Summary:
Number of Other Included Managers: 2
----------------------------------
Form 13F Information Table Entry Total: 197
----------------------------------
Form 13F Information Table Value Total: $351,811
----------------------------------
(thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
[If there are no entries in this list, state "NONE" and omit the column headings
and list entries.]
No. Form 13F File Number Name
1. 28-6844 The Canyon Value Realization Fund (Cayman), Ltd.
- ---- -------------- ------------------------------------------------
2. 28-6780 The Value Realization Fund, L.P.
- ---- -------------- ------------------------------------------------
[Repeat as necessary.]
<PAGE>
NAME OF REPORTING MANAGER: CANYON CAPITAL ADVISORS, LLC
AS OF 9/30/99
PAGE 1 0F 13
<TABLE>
<CAPTION>
Column 3: Column 4: Column 5:
Column 1: Column 2: CUSIP Fair Shares or SH/
Name of Issuer Title of Class Number Market Principal PRN
Value ($000) Amount
- ----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
GLOBAL CROSSING LTD COM G3921A100 2,073 78,412 SH
GLOBAL CROSSING LTD COM G3921A100 1,870 70,725 SH
GLOBAL CROSSING LTD COM G3921A100 122 4,612 SH
AT&T CORP COM LIB GRP A 001957208 421 11,350 SH
AT&T CORP COM LIB GRP A 001957208 284 7,650 SH
AT&T CORP COM LIB GRP A 001957208 37 1,000 SH
ADVANCED RADIO TELECOM CORP COM 00754U101 162 12,801 SH
ADVANCED RADIO TELECOM CORP COM 00754U101 146 11,546 SH
ADVANCED RADIO TELECOM CORP COM 00754U101 9 753 SH
AERIAL COMMUNICATIONS INC COM 007655103 654 24,180 SH
AERIAL COMMUNICATIONS INC COM 007655103 566 20,925 SH
AERIAL COMMUNICATIONS INC COM 007655103 38 1,395 SH
AGRIUM INC COM 008916108 231 23,240 SH
AGRIUM INC COM 008916108 196 19,760 SH
ASSOCIATED GROUP INC CL A 045651106 769 12,750 SH
ASSOCIATED GROUP INC CL A 045651106 694 11,500 SH
Page Total: 8,272
<CAPTION>
Column 6: Column 7: Column 8:
Column 1: Put/ Investment Other VOTING AUTHORITY
Name of Issuer Call Discretion Managers (a) Sole (b) Shared (c) None
- ---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
GLOBAL CROSSING LTD DEFINED 2 78,412
GLOBAL CROSSING LTD DEFINED 1 70,725
GLOBAL CROSSING LTD DEFINED 4,612
AT&T CORP DEFINED 2 11,350
AT&T CORP DEFINED 1 7,650
AT&T CORP DEFINED 1,000
ADVANCED RADIO TELECOM CORP DEFINED 1 12,801
ADVANCED RADIO TELECOM CORP DEFINED 2 11,546
ADVANCED RADIO TELECOM CORP DEFINED 753
AERIAL COMMUNICATIONS INC DEFINED 1 24,180
AERIAL COMMUNICATIONS INC DEFINED 2 20,925
AERIAL COMMUNICATIONS INC DEFINED 1,395
AGRIUM INC DEFINED 1 23,240
AGRIUM INC DEFINED 2 19,760
ASSOCIATED GROUP INC DEFINED 1 12,750
ASSOCIATED GROUP INC DEFINED 2 11,500
<PAGE>
NAME OF REPORTING MANAGER: CANYON CAPITAL ADVISORS, LLC
AS OF 9/30/99
PAGE 2 0F 13
<CAPTION>
Column 3: Column 4: Column 5:
Column 1: Column 2: CUSIP Fair Shares or SH/
Name of Issuer Title of Class Number Market Principal PRN
Value ($000) Amount
- ----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
ASSOCIATED GROUP INC CL A 045651106 45 750 SH
ASSOCIATED GROUP INC CL B 045651205 484 8,000 SH
ASSOCIATED GROUP INC CL B 045651205 484 8,000 SH
ASSOCIATED GROUP INC CL B 045651205 60 1,000 SH
BLOCKBUSTER INC CL A 093679108 826 64,781 SH
BLOCKBUSTER INC CL A 093679108 741 58,126 SH
BLOCKBUSTER INC CL A 093679108 47 3,693 SH
BRUNSWICK CORP COM 117043109 370 14,870 SH
BRUNSWICK CORP COM 117043109 219 8,807 SH
BRUNSWICK CORP COM 117043109 33 1,323 SH
CENTOCOR INC COM 152342101 4,475 76,500 SH
CENTOCOR INC COM 152342101 4,036 69,000 SH
CENTOCOR INC COM 152342101 263 4,500 SH
CENTURY COMMUNICATIONS CORP CL A 156503104 2,689 60,000 SH
CENTURY COMMUNICATIONS CORP CL A 156503104 1,564 34,900 SH
CENTURY COMMUNICATIONS CORP CL A 156503104 228 5,100 SH
Page Total: 16,564
<CAPTION>
Column 6: Column 7: Column 8:
Column 1: Put/ Investment Other VOTING AUTHORITY
Name of Issuer Call Discretion Managers (a) Sole (b) Shared (c) None
- ---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
ASSOCIATED GROUP INC DEFINED 750
ASSOCIATED GROUP INC DEFINED 1 8,000
ASSOCIATED GROUP INC DEFINED 2 8,000
ASSOCIATED GROUP INC DEFINED 1,000
BLOCKBUSTER INC DEFINED 1 64,781
BLOCKBUSTER INC DEFINED 2 58,126
BLOCKBUSTER INC DEFINED 3,693
BRUNSWICK CORP DEFINED 2 14,870
BRUNSWICK CORP DEFINED 1 8,807
BRUNSWICK CORP DEFINED 1,323
CENTOCOR INC DEFINED 1 76,500
CENTOCOR INC DEFINED 2 69,000
CENTOCOR INC DEFINED 4,500
CENTURY COMMUNICATIONS CORP DEFINED 2 60,000
CENTURY COMMUNICATIONS CORP DEFINED 1 34,900
CENTURY COMMUNICATIONS CORP DEFINED 5,100
<PAGE>
NAME OF REPORTING MANAGER: CANYON CAPITAL ADVISORS, LLC
AS OF 9/30/99
PAGE 3 0F 13
<CAPTION>
Column 3: Column 4: Column 5:
Column 1: Column 2: CUSIP Fair Shares or SH/
Name of Issuer Title of Class Number Market Principal PRN
Value ($000) Amount
- ----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
CIRRUS LOGIC CORP SUB NT CV 6%03 172755AC4 2,655 3,600,000 PRN
CIRRUS LOGIC CORP SUB NT CV 6%03 172755AC4 2,507 3,400,000 PRN
CIRRUS LOGIC CORP SUB NT CV 6%03 172755AC4 737 1,000,000 PRN
CITIZENS UTILS CO DEL CL B 177342201 6,844 605,023 SH
CITIZENS UTILS CO DEL CL B 177342201 4,760 420,747 SH
CITIZENS UTILS CO DEL CL B 177342201 309 27,326 SH
CITIZENS UTILS TR PFD EPPICS CV 177351202 2,030 40,810 SH
CITIZENS UTILS TR PFD EPPICS CV 177351202 980 19,690 SH
COMCAST CORP COM 200300200 567 14,240 SH
COMCAST CORP COM 200300200 582 14,610 SH
COMCAST CORP COM 200300200 46 1,150 SH
COMPAQ COMPUTER CORP COM 204493100 115 5,000 SH
COMPAQ COMPUTER CORP COM 204493100 103 4,500 SH
COMPAQ COMPUTER CORP COM 204493100 11 500 SH
COMSAT CORP COM SER 1 20564D107 1,115 37,962 SH
COMSAT CORP COM SER 1 20564D107 1,006 34,240 SH
Page Total: 24,367
<CAPTION>
Column 6: Column 7: Column 8:
Column 1: Put/ Investment Other VOTING AUTHORITY
Name of Issuer Call Discretion Managers (a) Sole (b) Shared (c) None
- ---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
CIRRUS LOGIC CORP DEFINED 2 3,600,000
CIRRUS LOGIC CORP DEFINED 1 3,400,000
CIRRUS LOGIC CORP DEFINED 1,000,000
CITIZENS UTILS CO DEL DEFINED 1 605,023
CITIZENS UTILS CO DEL DEFINED 2 420,747
CITIZENS UTILS CO DEL DEFINED 27,326
CITIZENS UTILS TR DEFINED 2 40,810
CITIZENS UTILS TR DEFINED 19,690
COMCAST CORP DEFINED 1 14,240
COMCAST CORP DEFINED 2 14,610
COMCAST CORP DEFINED 1,150
COMPAQ COMPUTER CORP DEFINED 2 5,000
COMPAQ COMPUTER CORP DEFINED 1 4,500
COMPAQ COMPUTER CORP DEFINED 500
COMSAT CORP DEFINED 1 37,962
COMSAT CORP DEFINED 2 34,240
<PAGE>
NAME OF REPORTING MANAGER: CANYON CAPITAL ADVISORS, LLC
AS OF 9/30/99
PAGE 4 0F 13
<CAPTION>
Column 3: Column 4: Column 5:
Column 1: Column 2: CUSIP Fair Shares or SH/
Name of Issuer Title of Class Number Market Principal PRN
Value ($000) Amount
- ----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
COMSAT CORP COM SER 1 20564D107 66 2,233 SH
CONOCO INC CL B 208251405 3,839 140,250 SH
CONOCO INC CL B 208251405 3,463 126,500 SH
CONOCO INC CL B 208251405 226 8,250 SH
CONSOLIDATED FREIGHTWAYS CORP COM 209232107 1,723 174,495 SH
CONSOLIDATED FREIGHTWAYS CORP COM 209232107 1,250 126,579 SH
CONSOLIDATED FREIGHTWAYS CORP COM 209232107 88 8,926 SH
DIAMOND OFFSHORE DRILLING INC COM 25271C102 2,198 65,860 SH
DIAMOND OFFSHORE DRILLING COM 25271C102 1,401 41,965 SH
DIAMOND OFFSHORE DRILLING COM 25271C102 164 4,925 SH
DISNEY WALT CO COM 254687106 1,379 53,300 SH
DISNEY WALT CO COM 254687106 1,453 56,150 SH
DISNEY WALT CO COM 254687106 144 5,550 SH
DUCOMMUN INC DEL COM 264147109 1,138 103,490 SH
DUCOMMUN INC DEL COM 264147109 993 90,300 SH
DUCOMMUN INC DEL COM 264147109 68 6,210 SH
Page Total: 19,593
<CAPTION>
Column 6: Column 7: Column 8:
Column 1: Put/ Investment Other VOTING AUTHORITY
Name of Issuer Call Discretion Managers (a) Sole (b) Shared (c) None
- ---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
COMSAT CORP DEFINED 2,233
CONOCO INC DEFINED 1 140,250
CONOCO INC DEFINED 2 126,500
CONOCO INC DEFINED 8,250
CONSOLIDATED FREIGHTWAYS CORP DEFINED 1 174,495
CONSOLIDATED FREIGHTWAYS CORP DEFINED 2 126,579
CONSOLIDATED FREIGHTWAYS CORP DEFINED 8,926
DIAMOND OFFSHORE DRILLING INC DEFINED 1 65,860
DIAMOND OFFSHORE DRILLING DEFINED 2 41,965
DIAMOND OFFSHORE DRILLING DEFINED 4,925
DISNEY WALT CO DEFINED 1 53,300
DISNEY WALT CO DEFINED 2 56,150
DISNEY WALT CO DEFINED 5,550
DUCOMMUN INC DEL DEFINED 1 103,490
DUCOMMUN INC DEL DEFINED 2 90,300
DUCOMMUN INC DEL DEFINED 6,210
<PAGE>
NAME OF REPORTING MANAGER: CANYON CAPITAL ADVISORS, LLC
AS OF 9/30/99
PAGE 5 0F 13
<CAPTION>
Column 3: Column 4: Column 5:
Column 1: Column 2: CUSIP Fair Shares or SH/
Name of Issuer Title of Class Number Market Principal PRN
Value ($000) Amount
- ----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
EL PASO ELEC CO COM NEW 283677854 121 13,500 SH
EL PASO ELEC CO COM NEW 283677854 58 6,500 SH
ELECTRIC LIGHTWAVE INC CL A 284895109 4,098 306,375 SH
ELECTRIC LIGHTWAVE INC CL A 284895109 2,187 163,540 SH
ELECTRIC LIGHTWAVE INC CL A 284895109 194 14,485 SH
EMCOR GROUP INC COM 29084Q100 1,816 94,325 SH
EMCOR GROUP INC COM 29084Q100 1,009 52,426 SH
EMCOR GROUP INC COM 29084Q100 190 9,900 SH
FIRST AVIATION SVCS INC COM 31865W108 2,073 518,163 SH
FIRST AVIATION SVCS INC COM 31865W108 1,170 292,324 SH
FIRST AVIATION SVCS INC COM 31865W108 345 86,223 SH
FOOTSTAR INC COM 344912100 324 9,200 SH
FOOTSTAR INC COM 344912100 183 5,200 SH
FOOTSTAR INC COM 344912100 21 600 SH
FORTE SOFTWARE INC COM 349546101 931 34,017 SH
FORTE SOFTWARE INC COM 349546101 840 30,682 SH
Page Total: 15,439
<CAPTION>
Column 6: Column 7: Column 8:
Column 1: Put/ Investment Other VOTING AUTHORITY
Name of Issuer Call Discretion Managers (a) Sole (b) Shared (c) None
- ---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
EL PASO ELEC CO DEFINED 2 13,500
EL PASO ELEC CO DEFINED 1 6,500
ELECTRIC LIGHTWAVE INC DEFINED 1 306,375
ELECTRIC LIGHTWAVE INC DEFINED 2 163,540
ELECTRIC LIGHTWAVE INC DEFINED 14,485
EMCOR GROUP INC DEFINED 2 94,325
EMCOR GROUP INC DEFINED 1 52,426
EMCOR GROUP INC DEFINED 9,900
FIRST AVIATION SVCS INC DEFINED 2 518,163
FIRST AVIATION SVCS INC DEFINED 292,324
FIRST AVIATION SVCS INC DEFINED 1 86,223
FOOTSTAR INC DEFINED 2 9,200
FOOTSTAR INC DEFINED 1 5,200
FOOTSTAR INC DEFINED 600
FORTE SOFTWARE INC DEFINED 1 34,017
FORTE SOFTWARE INC DEFINED 2 30,682
<PAGE>
NAME OF REPORTING MANAGER: CANYON CAPITAL ADVISORS, LLC
AS OF 9/30/99
PAGE 6 0F 13
<CAPTION>
Column 3: Column 4: Column 5:
Column 1: Column 2: CUSIP Fair Shares or SH/
Name of Issuer Title of Class Number Market Principal PRN
Value ($000) Amount
- ----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
FORTE SOFTWARE INC COM 349546101 55 2,001 SH
GENERAL MTRS CORP COM 370442105 241 3,825 SH
GENERAL MTRS CORP COM 370442105 217 3,450 SH
GENERAL MTRS CORP COM 370442105 14 225 SH
GLOBAL INDL TECHNOLOGIES INC COM 379335102 311 25,500 SH
GLOBAL INDL TECHNOLOGIES INC COM 379335102 280 23,000 SH
GLOBAL INDL TECHNOLOGIES INC COM 379335102 18 1,500 SH
HARRAHS ENTMT INC COM 413619107 338 12,165 SH
HARRAHS ENTMT INC COM 413619107 337 12,140 SH
HARRAHS ENTMT INC COM 413619107 22 795 SH
HOLLYWOD ENTMT CORP COM 436141105 2,519 168,661 SH
HOLLYWOD ENTMT CORP COM 436141105 2,270 151,986 SH
HOLLYWOD ENTMT CORP COM 436141105 149 9,953 SH
HUMAN GENOME SCIENCES INC SUB NT CV 144A06 444903AA6 10,140 6,500,000 PRN
HUMAN GENOME SCIENCES INC SUB NT CV 144A06 444903AA6 7,722 4,950,000 PRN
HUMAN GENOME SCIENCES INC SUB NT CV 144A06 444903AA6 858 550,000 PRN
Page Total: 25,491
<CAPTION>
Column 6: Column 7: Column 8:
Column 1: Put/ Investment Other VOTING AUTHORITY
Name of Issuer Call Discretion Managers (a) Sole (b) Shared (c) None
- ---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
FORTE SOFTWARE INC DEFINED 2,001
GENERAL MTRS CORP DEFINED 1 3,825
GENERAL MTRS CORP DEFINED 2 3,450
GENERAL MTRS CORP DEFINED 225
GLOBAL INDL TECHNOLOGIES INC DEFINED 1 25,500
GLOBAL INDL TECHNOLOGIES INC DEFINED 2 23,000
GLOBAL INDL TECHNOLOGIES INC DEFINED 1,500
HARRAHS ENTMT INC DEFINED 2 12,165
HARRAHS ENTMT INC DEFINED 1 12,140
HARRAHS ENTMT INC DEFINED 795
HOLLYWOD ENTMT CORP DEFINED 1 168,661
HOLLYWOD ENTMT CORP DEFINED 2 151,986
HOLLYWOD ENTMT CORP DEFINED 9,953
HUMAN GENOME SCIENCES INC DEFINED 1 6,500,000
HUMAN GENOME SCIENCES INC DEFINED 2 4,950,000
HUMAN GENOME SCIENCES INC DEFINED 550,000
<PAGE>
NAME OF REPORTING MANAGER: CANYON CAPITAL ADVISORS, LLC
AS OF 9/30/99
PAGE 7 0F 13
<CAPTION>
Column 3: Column 4: Column 5:
Column 1: Column 2: CUSIP Fair Shares or SH/
Name of Issuer Title of Class Number Market Principal PRN
Value ($000) Amount
- ----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
ILLINOVA CORP COM 452317100 2,470 88,018 SH
ILLINOVA CORP COM 452317100 2,196 78,238 SH
ILLINOVA CORP COM 452317100 144 5,144 SH
LSI LOGIC CORP SUB NT CV 144A04 502161AB8 8,869 5,000,000 PRN
LSI LOGIC CORP SUB NT CV 144A04 502161AB8 8,425 4,750,000 PRN
LSI LOGIC CORP SUB NT CV 144A04 502161AB8 3,991 2,250,000 PRN
LSI LOGIC CORP SUB NT CV 4.25%04 502161AD4 7,379 4,160,000 PRN
LSI LOGIC CORP SUB NT CV 4.25%04 502161AD4 6,385 3,600,000 PRN
LSI LOGIC CORP SUB NT CV 4.25%04 502161AD4 426 240,000 PRN
LIMITED INC COM 532716107 1,194 31,210 SH
LIMITED INC COM 532716107 829 21,661 SH
LIMITED INC COM 532716107 66 1,730 SH
LODGENET ENTMT CORP COM 540211109 877 67,755 SH
LODGENET ENTMT CORP COM 540211109 779 60,215 SH
LODGENET ENTMT CORP COM 540211109 52 4,030 SH
LOEWS CINEPLEX ENTMT CORP COM 540423100 1,193 151,530 SH
Page Total: 45,275
<CAPTION>
Column 6: Column 7: Column 8:
Column 1: Put/ Investment Other VOTING AUTHORITY
Name of Issuer Call Discretion Managers (a) Sole (b) Shared (c) None
- ---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
ILLINOVA CORP DEFINED 1 88,018
ILLINOVA CORP DEFINED 2 78,238
ILLINOVA CORP DEFINED 5,144
LSI LOGIC CORP DEFINED 2 5,000,000
LSI LOGIC CORP DEFINED 1 4,750,000
LSI LOGIC CORP DEFINED 2,250,000
LSI LOGIC CORP DEFINED 1 4,160,000
LSI LOGIC CORP DEFINED 2 3,600,000
LSI LOGIC CORP DEFINED 240,000
LIMITED INC DEFINED 2 31,210
LIMITED INC DEFINED 1 21,661
LIMITED INC DEFINED 1,730
LODGENET ENTMT CORP DEFINED 1 67,755
LODGENET ENTMT CORP DEFINED 2 60,215
LODGENET ENTMT CORP DEFINED 4,030
LOEWS CINEPLEX ENTMT CORP DEFINED 1 151,530
<PAGE>
NAME OF REPORTING MANAGER: CANYON CAPITAL ADVISORS, LLC
AS OF 9/30/99
PAGE 8 0F 13
<CAPTION>
Column 3: Column 4: Column 5:
Column 1: Column 2: CUSIP Fair Shares or SH/
Name of Issuer Title of Class Number Market Principal PRN
Value ($000) Amount
- ----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
LOEWS CINEPLEX ENTMT CORP COM 540423100 1,175 149,197 SH
LOEWS CINEPLEX ENTMT CORP COM 540423100 70 8,873 SH
MAI SYSTEMS CORP COM 552620205 336 672,506 SH
MAI SYSTEMS CORP COM 552620205 308 615,219 SH
MAI SYSTEMS CORP COM 552620205 46 91,775 SH
MAXXAM INC COM 577913106 3,161 61,535 SH
MAXXAM INC COM 577913106 2,676 52,080 SH
MAXXAM INC COM 577913106 215 4,185 SH
MEDIAONE GROUP INC COM 58440J104 10,729 157,051 SH
MEDIAONE GROUP INC COM 58440J104 9,639 141,106 SH
MEDIAONE GROUP INC COM 58440J104 645 9,443 SH
METRO GOLDWYN MAYER INC COM 591610100 892 51,000 SH
METRO GOLDWYN MAYER INC COM 591610100 639 36,500 SH
METRO GOLDWYN MAYER INC COM 591610100 47 2,700 SH
MICRO WHSE INC COM 59501B105 406 33,650 SH
MICRO WHSE INC COM 59501B105 356 29,500 SH
Page Total: 31,340
<CAPTION>
Column 6: Column 7: Column 8:
Column 1: Put/ Investment Other VOTING AUTHORITY
Name of Issuer Call Discretion Managers (a) Sole (b) Shared (c) None
- ---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
LOEWS CINEPLEX ENTMT CORP DEFINED 2 149,197
LOEWS CINEPLEX ENTMT CORP DEFINED 8,873
MAI SYSTEMS CORP DEFINED 2 672,506
MAI SYSTEMS CORP DEFINED 1 615,219
MAI SYSTEMS CORP DEFINED 91,775
MAXXAM INC DEFINED 1 61,535
MAXXAM INC DEFINED 2 52,080
MAXXAM INC DEFINED 4,185
MEDIAONE GROUP INC DEFINED 1 157,051
MEDIAONE GROUP INC DEFINED 2 141,106
MEDIAONE GROUP INC DEFINED 9,443
METRO GOLDWYN MAYER INC DEFINED 2 51,000
METRO GOLDWYN MAYER INC DEFINED 1 36,500
METRO GOLDWYN MAYER INC DEFINED 2,700
MICRO WHSE INC DEFINED 1 33,650
MICRO WHSE INC DEFINED 2 29,500
<PAGE>
NAME OF REPORTING MANAGER: CANYON CAPITAL ADVISORS, LLC
AS OF 9/30/99
PAGE 9 0F 13
<CAPTION>
Column 3: Column 4: Column 5:
Column 1: Column 2: CUSIP Fair Shares or SH/
Name of Issuer Title of Class Number Market Principal PRN
Value ($000) Amount
- ----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
MICRO WHSE INC COM 591610100 22 1,850 SH
MIRAGE RESORTS INC COM 60462E104 749 53,250 SH
MIRAGE RESORTS INC COM 60462E104 679 48,250 SH
MIRAGE RESORTS INC COM 60462E104 49 3,500 SH
NS GROUP INC COM 628916108 5,853 544,495 SH
NEWS CORP LTD SP ADR PFD 652487802 1,577 59,077 SH
NEWS CORP LTD SP ADR PFD 652487802 1,406 52,677 SH
NEWS CORP LTD SP ADR PFD 652487802 76 2,870 SH
NORTEK INC COM 656559101 7,870 230,639 SH
NORTEK INC COM 656559101 7,215 211,427 SH
NORTEK INC COM 656559101 254 7,434 SH
NU SKIN ENTERPRISES INC CL A 67018T105 79 11,719 SH
OGDEN CORP COM 676346109 484 48,400 SH
OGDEN CORP COM 676346109 433 43,250 SH
OGDEN CORP COM 676346109 33 3,350 SH
PAYLESS SHOESOURCE INC COM 704379106 12,248 242,540 SH
Page Total: 39,027
<CAPTION>
Column 6: Column 7: Column 8:
Column 1: Put/ Investment Other VOTING AUTHORITY
Name of Issuer Call Discretion Managers (a) Sole (b) Shared (c) None
- ---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
MICRO WHSE INC DEFINED 1,850
MIRAGE RESORTS INC DEFINED 1 53,250
MIRAGE RESORTS INC DEFINED 2 48,250
MIRAGE RESORTS INC DEFINED 3,500
NS GROUP INC DEFINED 1 544,495
NEWS CORP LTD DEFINED 1 59,077
NEWS CORP LTD DEFINED 2 52,677
NEWS CORP LTD DEFINED 2,870
NORTEK INC DEFINED 1 230,639
NORTEK INC DEFINED 2 211,427
NORTEK INC DEFINED 7,434
NU SKIN ENTERPRISES INC DEFINED 2 11,719
OGDEN CORP DEFINED 1 48,400
OGDEN CORP DEFINED 2 43,250
OGDEN CORP DEFINED 3,350
PAYLESS SHOESOURCE INC DEFINED 1 242,540
<PAGE>
NAME OF REPORTING MANAGER: CANYON CAPITAL ADVISORS, LLC
AS OF 9/30/99
PAGE 10 0F 13
<CAPTION>
Column 3: Column 4: Column 5:
Column 1: Column 2: CUSIP Fair Shares or SH/
Name of Issuer Title of Class Number Market Principal PRN
Value ($000) Amount
- ----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
PAYLESS SHOESOURCE INC COM 704379106 10,761 213,095 SH
PAYLESS SHOESOURCE INC COM 704379106 700 13,865 SH
PEGASUS COMMUNICATIONS CORP CL A 705904100 6,455 143,450 SH
PEGASUS COMMUNICATIONS CORP CL A 705904100 5,264 116,980 SH
PEGASUS COMMUNICATIONS CORP CL A 705904100 464 10,320 SH
POOL ENERGY SVCS CO COM 732788104 11,578 471,361 SH
POOL ENERGY SVCS CO COM 732788104 9,885 402,431 SH
POOL ENERGY SVCS CO COM 732788104 673 27,408 SH
PRIMEX TECHNOLOGIES INC COM 741597108 2,091 105,900 SH
PRIMEX TECHNOLOGIES INC COM 741597108 2,212 112,002 SH
PRIMEX TECHNOLOGIES INC COM 741597108 101 5,098 SH
READ RITE CORP COM 755246105 109 25,000 SH
READ RITE CORP COM 755246105 98 22,500 SH
READ RITE CORP COM 755246105 11 2,500 SH
SANMINA CORP SUB NT CV 144A 04 800907AA5 11,181 0,050,000 PRN
SANMINA CORP SUB NT CV 144A 04 800907AA5 9,901 8,900,000 PRN
Page Total: 71,484
<CAPTION>
Column 6: Column 7: Column 8:
Column 1: Put/ Investment Other VOTING AUTHORITY
Name of Issuer Call Discretion Managers (a) Sole (b) Shared (c) None
- ---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
PAYLESS SHOESOURCE INC DEFINED 2 213,095
PAYLESS SHOESOURCE INC DEFINED 13,865
PEGASUS COMMUNICATIONS CORP DEFINED 1 143,450
PEGASUS COMMUNICATIONS CORP DEFINED 2 116,980
PEGASUS COMMUNICATIONS CORP DEFINED 10,320
POOL ENERGY SVCS CO DEFINED 1 471,361
POOL ENERGY SVCS CO DEFINED 2 402,431
POOL ENERGY SVCS CO DEFINED 27,408
PRIMEX TECHNOLOGIES INC DEFINED 1 105,900
PRIMEX TECHNOLOGIES INC DEFINED 2 112,002
PRIMEX TECHNOLOGIES INC DEFINED 5,098
READ RITE CORP DEFINED 1 25,000
READ RITE CORP DEFINED 2 22,500
READ RITE CORP DEFINED 2,500
SANMINA CORP DEFINED 1 10,050,000
SANMINA CORP DEFINED 2 8,900,000
<PAGE>
NAME OF REPORTING MANAGER: CANYON CAPITAL ADVISORS, LLC
AS OF 9/30/99
PAGE 11 0F 13
<CAPTION>
Column 3: Column 4: Column 5:
Column 1: Column 2: CUSIP Fair Shares or SH/
Name of Issuer Title of Class Number Market Principal PRN
Value ($000) Amount
- ----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
SANMINA CORP SUB NT CV 144A 04 800907AA5 1,168 1,050,000 PRN
SEAGRAM LTD COM 811850106 473 10,400 SH
SEAGRAM LTD COM 811850106 410 9,000 SH
SEAGRAM LTD COM 811850106 27 600 SH
SMART MODULAR TECH INC COM 831690102 3,058 89,773 SH
SMART MODULAR TECH INC COM 831690102 2,705 79,416 SH
SMART MODULAR TECH INC COM 831690102 177 5,211 SH
STEINWAY MUSICAL INSTRS INC COM ORD 858495104 267 12,750 SH
STEINWAY MUSICAL INSTRS INC COM ORD 858495104 241 11,500 SH
STEINWAY MUSICAL INSTRS INC COM ORD 858495104 16 750 SH
TELEBANC FINANCIAL CORP COM 87925R109 8,218 357,306 SH
TELEBANC FINANCIAL CORP COM 87925R109 7,416 322,428 SH
TELEBANC FINANCIAL CORP COM 87925R109 466 20,266 SH
TELEPHONE & DATA SYS INC COM 879433100 3,745 42,170 SH
TELEPHONE & DATA SYS INC COM 879433100 3,181 35,814 SH
TELEPHONE & DATA SYS INC COM 879433100 166 1,866 SH
Page Total: 31,734
<CAPTION>
Column 6: Column 7: Column 8:
Column 1: Put/ Investment Other VOTING AUTHORITY
Name of Issuer Call Discretion Managers (a) Sole (b) Shared (c) None
- ---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
SANMINA CORP DEFINED 1,050,000
SEAGRAM LTD DEFINED 1 10,400
SEAGRAM LTD DEFINED 2 9,000
SEAGRAM LTD DEFINED 600
SMART MODULAR TECH INC DEFINED 1 89,773
SMART MODULAR TECH INC DEFINED 2 79,416
SMART MODULAR TECH INC DEFINED 5,211
STEINWAY MUSICAL INSTRS INC DEFINED 1 12,750
STEINWAY MUSICAL INSTRS INC DEFINED 2 11,500
STEINWAY MUSICAL INSTRS INC DEFINED 750
TELEBANC FINANCIAL CORP DEFINED 1 357,306
TELEBANC FINANCIAL CORP DEFINED 2 322,428
TELEBANC FINANCIAL CORP DEFINED 20,266
TELEPHONE & DATA SYS INC DEFINED 1 42,170
TELEPHONE & DATA SYS INC DEFINED 2 35,814
TELEPHONE & DATA SYS INC DEFINED 1,866
<PAGE>
NAME OF REPORTING MANAGER: CANYON CAPITAL ADVISORS, LLC
AS OF 9/30/99
PAGE 12 0F 13
<CAPTION>
Column 3: Column 4: Column 5:
Column 1: Column 2: CUSIP Fair Shares or SH/
Name of Issuer Title of Class Number Market Principal PRN
Value ($000) Amount
- ----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
TENET HEALTHCARE CORP COM 88033G100 963 54,835 SH
TENET HEALTHCARE CORP COM 88033G100 911 51,900 SH
TENET HEALTHCARE CORP COM 88033G100 85 4,865 SH
TRANS WORLD ENTMT CORP COM 89336Q100 1,413 111,410 SH
TRANS WORLD ENTMT CORP COM 89336Q100 1,177 92,730 SH
TRANS WORLD ENTMT CORP COM 89336Q100 163 12,860 SH
VAIL RESORTS INC COM 91879Q109 870 37,500 SH
VAIL RESORTS INC COM 91879Q109 782 33,750 SH
VAIL RESORTS INC COM 91879Q109 87 3,750 SH
VENTAS INC COM 92276F100 519 109,237 SH
VENTAS INC COM 92276F100 491 103,461 SH
VENTAS INC COM 92276F100 40 8,502 SH
WHX CORP COM 929248102 3,597 359,723 SH
WHX CORP COM 929248102 2,591 258,142 SH
WHX CORP COM 929248102 162 16,235 SH
WALTER INDS INC COM 93317Q105 4,125 305,580 SH
Page Total: 17,976
<CAPTION>
Column 6: Column 7: Column 8:
Column 1: Put/ Investment Other VOTING AUTHORITY
Name of Issuer Call Discretion Managers (a) Sole (b) Shared (c) None
- ---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
TENET HEALTHCARE CORP DEFINED 1 54,835
TENET HEALTHCARE CORP DEFINED 2 51,900
TENET HEALTHCARE CORP DEFINED 4,865
TRANS WORLD ENTMT CORP DEFINED 2 111,410
TRANS WORLD ENTMT CORP DEFINED 1 92,730
TRANS WORLD ENTMT CORP DEFINED 12,860
VAIL RESORTS INC DEFINED 1 37,500
VAIL RESORTS INC DEFINED 2 33,750
VAIL RESORTS INC DEFINED 3,750
VENTAS INC DEFINED 1 109,237
VENTAS INC DEFINED 2 103,461
VENTAS INC DEFINED 8,502
WHX CORP DEFINED 1 359,723
WHX CORP DEFINED 2 258,142
WHX CORP DEFINED 16,235
WALTER INDS INC DEFINED 1 305,580
<PAGE>
NAME OF REPORTING MANAGER: CANYON CAPITAL ADVISORS, LLC
AS OF 9/30/99
PAGE 13 0F 13
<CAPTION>
Column 3: Column 4: Column 5:
Column 1: Column 2: CUSIP Fair Shares or SH/
Name of Issuer Title of Class Number Market Principal PRN
Value ($000) Amount
- ----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
WALTER INDS INC COM 93317Q105 4,271 316,396 SH
WALTER INDS INC COM 93317Q105 255 18,924 SH
ZAPATA CORP COM NEW 989070503 339 67,805 SH
ZAPATA CORP COM NEW 989070503 361 72,260 SH
ZAPATA CORP COM NEW 989070503 23 4,635 SH
Page Total: 5,249
Grand Total: 351,811
<CAPTION>
Column 6: Column 7: Column 8:
Column 1: Put/ Investment Other VOTING AUTHORITY
Name of Issuer Call Discretion Managers (a) Sole (b) Shared (c) None
- ---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
WALTER INDS INC DEFINED 2 316,396
WALTER INDS INC DEFINED 18,924
ZAPATA CORP DEFINED 1 67,805
ZAPATA CORP DEFINED 2 72,260
ZAPATA CORP DEFINED 4,635
</TABLE>
