<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: June 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: MITCHELL R. JULIS
----------------------------------
Title: MANAGING DIRECTOR
----------------------------------
Phone: (310) 247-2700
----------------------------------
----------------------------------
Signature, Place and Date of Signing:
/S/ Mitchell R. Julis Beverly Hills, CA August 13, 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: 177
---------------------
Form 13F Information Table Value Total: $ 275,442
---------------------
(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>
PAGE 1 OF 11
NAME OF REPORTING MANAGER: CANYON CAPITAL ADVISORS, LLC
AS OF 6/30/99
<TABLE>
<CAPTION>
Column 3: Column 4: Column 5:
Column 1: Column 2: CUSIP Fair Shares or SH/ Put/
Name of Issuer Title of Class Number Market Principal PRN Call
Value ($000) Amount
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
AT&T CORP COM LIB GRP A 001957208 625 17,000 SH
AT&T CORP COM LIB GRP A 001957208 423 11,500 SH
AT&T CORP COM LIB GRP A 001957208 55 1,500 SH
ABOVENET COMMUNICATIONS INC COM 003743101 266 6,600 SH
ABOVENET COMMUNICATIONS INC COM 003743101 177 4,400 SH
ACTIVISION INC NEW SUB NT CV 144A05 004930AA1 950 1,000,000 PRN
ACTIVISION INC NEW SUB NT CV 144A05 004930AA1 662 697,000 PRN
ACTIVISION INC NEW SUB NT CV 144A05 004930AA1 288 303,000 PRN
ACTIVISION INC NEW SB NT CV 6.75%05 004930AC7 1,520 1,600,000 PRN
ACTIVISION INC NEW SB NT CV 6.75%05 004930AC7 1,253 1,319,000 PRN
ACTIVISION INC NEW SB NT CV 6.75%05 004930AC7 77 81,000 PRN
AGRIUM INC COM 008916108 205 23,240 SH
AGRIUM INC COM 008916108 174 19,760 SH
AMERICAN BANKERS INS GROUP INC COM 024456105 7,948 146,000 SH
AMERICAN BANKERS INS GROUP INC COM 024456105 7,783 142,975 SH
AMERICAN BANKERS INS GROUP INC COM 024456105 600 11,025 SH
ASSOCIATED GROUP INC CL B 045651205 521 8,000 SH
ASSOCIATED GROUP INC CL B 045651205 521 8,000 SH
Page Total: 24,048
<CAPTION>
Column 6: Column 7: Column 8:
Column 1: Investment Other VOTING AUTHORITY
Name of Issuer Discretion Managers (a) Sole (b) Shared (c)None
- -------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
AT&T CORP DEFINED 2 17,000
AT&T CORP DEFINED 1 11,500
AT&T CORP DEFINED 1,500
ABOVENET COMMUNICATIONS INC DEFINED 1 6,600
ABOVENET COMMUNICATIONS INC DEFINED 2 4,400
ACTIVISION INC NEW DEFINED 1 1,000,000
ACTIVISION INC NEW DEFINED 2 697,000
ACTIVISION INC NEW DEFINED 303,000
ACTIVISION INC NEW DEFINED 1 1,600,000
ACTIVISION INC NEW DEFINED 2 1,319,000
ACTIVISION INC NEW DEFINED 81,000
AGRIUM INC DEFINED 1 23,240
AGRIUM INC DEFINED 2 19,760
AMERICAN BANKERS INS GROUP INC DEFINED 1 146,000
AMERICAN BANKERS INS GROUP INC DEFINED 2 142,975
AMERICAN BANKERS INS GROUP INC DEFINED 11,025
ASSOCIATED GROUP INC DEFINED 1 8,000
ASSOCIATED GROUP INC DEFINED 2 8,000
</TABLE>
<PAGE>
PAGE 2 OF 11
NAME OF REPORTING MANAGER: CANYON CAPITAL ADVISORS, LLC
AS OF 6/30/99
<TABLE>
<CAPTION>
Column 3: Column 4: Column 5:
Column 1: Column 2: CUSIP Fair Shares or SH/ Put/
Name of Issuer Title of Class Number Market Principal PRN Call
Value ($000) Amount
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
ASSOCIATED GROUP INC CL B 045651205 65 1,000 SH
AT HOME CORP COM SER A 045919107 2,322 43,059 SH
AT HOME CORP COM SER A 045919107 2,150 39,863 SH
AT HOME CORP COM SER A 045919107 162 3,006 SH
AVIALL INC NEW COM 05366B102 194 10,300 SH
AVIALL INC NEW COM 05366B102 269 14,300 SH
AVIALL INC NEW COM 05366B102 23 1,200 SH
BRUNSWICK CORP COM 117043109 245 8,807 SH
BRUNSWICK CORP COM 117043109 415 14,870 SH
BRUNSWICK CORP COM 117043109 37 1,323 SH
CENTURY COMMUNICATIONS CORP CL A 156503104 2,088 45,400 SH
CENTURY COMMUNICATIONS CORP CL A 156503104 3,588 78,000 SH
CENTURY COMMUNICATIONS CORP CL A 156503104 304 6,600 SH
CIRRUS LOGIC CORP SUB NT CV 6%03 172755AC4 2,448 3,600,000 PRN
CIRRUS LOGIC CORP SUB NT CV 6%03 172755AC4 2,312 3,400,000 PRN
CIRRUS LOGIC CORP SUB NT CV 6%03 172755AC4 680 1,000,000 PRN
CITIZENS UTILS CO DEL CL B 177342201 6,987 628,023 SH
CITIZENS UTILS CO DEL CL B 177342201 4,859 436,747 SH
<CAPTION>
Column 6: Column 7: Column 8:
Column 1: Investment Other VOTING AUTHORITY
Name of Issuer Discretion Managers (a) Sole (b) Shared (c)None
- -------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
ASSOCIATED GROUP INC DEFINED 1,000
AT HOME CORP DEFINED 1 43,059
AT HOME CORP DEFINED 2 39,863
AT HOME CORP DEFINED 3,006
AVIALL INC NEW DEFINED 1 10,300
AVIALL INC NEW DEFINED 2 14,300
AVIALL INC NEW DEFINED 1,200
BRUNSWICK CORP DEFINED 1 8,807
BRUNSWICK CORP DEFINED 2 14,870
BRUNSWICK CORP DEFINED 1,323
CENTURY COMMUNICATIONS CORP DEFINED 1 45,400
CENTURY COMMUNICATIONS CORP DEFINED 2 78,000
CENTURY COMMUNICATIONS CORP DEFINED 6,600
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 1 628,023
CITIZENS UTILS CO DEL DEFINED 2 436,747
</TABLE>
<PAGE>
PAGE 3 OF 11
NAME OF REPORTING MANAGER: CANYON CAPITAL ADVISORS, LLC
AS OF 6/30/99
<TABLE>
<CAPTION>
Column 3: Column 4: Column 5:
Column 1: Column 2: CUSIP Fair Shares or SH/ Put/
Name of Issuer Title of Class Number Market Principal PRN Call
Value ($000) Amount
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Page Total: 29,148
CITIZENS UTILS CO DEL CL B 177342201 315 28,326 SH
CITIZENS UTILS TR PFD EPPICS CV 177351202 3,436 70,660 PRN
CITIZENS UTILS TR PFD EPPICS CV 177351202 1,694 34,840 PRN
COMCAST CORP COM 200300200 547 14,240 SH
COMCAST CORP COM 200300200 562 14,610 SH
COMCAST CORP COM 200300200 44 1,150 SH
COMPAQ COMPUTER CORP COM 204493100 107 4,500 SH
COMPAQ COMPUTER CORP COM 204493100 118 5,000 SH
COMPAQ COMPUTER CORP COM 204493100 12 500 SH
COMSAT CORP COM SER 1 20564D107 163 5,000 SH
COMSAT CORP COM SER 1 20564D107 146 4,500 SH
COMSAT CORP COM SER 1 20564D107 16 500 SH
CONCENTRA MANAGED CARE INC COM 20589T103 2,101 142,450 SH
CONCENTRA MANAGED CARE INC COM 20589T103 1,665 112,880 SH
CONCENTRA MANAGED CARE INC COM 20589T103 125 8,470 SH
CONSOLIDATED FREIGHTWAYS CORP COM 209232107 2,236 174,495 SH
CONSOLIDATED FREIGHTWAYS CORP COM 209232107 1,622 126,579 SH
<CAPTION>
Column 6: Column 7: Column 8:
Column 1: Investment Other VOTING AUTHORITY
Name of Issuer Discretion Managers (a) Sole (b) Shared (c)None
- -------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
CITIZENS UTILS CO DEL DEFINED 28,326
CITIZENS UTILS TR DEFINED 2 70,660
CITIZENS UTILS TR DEFINED 34,840
COMCAST CORP DEFINED 1 14,240
COMCAST CORP DEFINED 2 14,610
COMCAST CORP DEFINED 1,150
COMPAQ COMPUTER CORP DEFINED 1 4,500
COMPAQ COMPUTER CORP DEFINED 2 5,000
COMPAQ COMPUTER CORP DEFINED 500
COMSAT CORP DEFINED 1 5,000
COMSAT CORP DEFINED 2 4,500
COMSAT CORP DEFINED 500
CONCENTRA MANAGED CARE INC DEFINED 1 142,450
CONCENTRA MANAGED CARE INC DEFINED 2 112,880
CONCENTRA MANAGED CARE INC DEFINED 8,470
CONSOLIDATED FREIGHTWAYS CORP DEFINED 1 174,495
CONSOLIDATED FREIGHTWAYS CORP DEFINED 2 126,579
</TABLE>
<PAGE>
PAGE 4 OF 11
NAME OF REPORTING MANAGER: CANYON CAPITAL ADVISORS, LLC
AS OF 6/30/99
<TABLE>
<CAPTION>
Column 3: Column 4: Column 5:
Column 1: Column 2: CUSIP Fair Shares or SH/ Put/
Name of Issuer Title of Class Number Market Principal PRN Call
Value ($000) Amount
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
CONSOLIDATED FREIGHTWAYS CORP COM 209232107 114 8,926 SH
Page Total: 15,023
DIAMOND OFFSHORE DRILLING INC COM 25271C102 2,720 95,860 SH
DIAMOND OFFSHORE DRILLING COM 25271C102 1,687 59,465 SH
DIAMOND OFFSHORE DRILLING COM 25271C102 211 7,425 SH
DISNEY WALT CO COM 254687106 2,311 75,000 SH
DISNEY WALT CO COM 254687106 2,804 91,000 SH
DISNEY WALT CO COM 254687106 277 9,000 SH
EL PASO ELEC CO COM NEW 283677854 58 6,500 SH
EL PASO ELEC CO COM NEW 283677854 121 13,500 SH
ELECTRIC LIGHTWAVE INC CL A 284895109 4,179 323,025 SH
ELECTRIC LIGHTWAVE INC CL A 284895109 2,270 175,440 SH
ELECTRIC LIGHTWAVE INC CL A 284895109 223 17,235 SH
EMCOR GROUP INC COM 29084Q100 1,320 52,426 SH
EMCOR GROUP INC COM 29084Q100 2,376 94,325 SH
EMCOR GROUP INC COM 29084Q100 249 9,900 SH
FIRST AVIATION SERV RSTD(FAVS) COM 31865W108 2,073 518,163 SH
FIRST AVIATION SERV RSTD(FAVS) COM 31865W108 345 86,223 SH
<CAPTION>
Column 6: Column 7: Column 8:
Column 1: Investment Other VOTING AUTHORITY
Name of Issuer Discretion Managers (a) Sole (b) Shared (c)None
- -------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
CONSOLIDATED FREIGHTWAYS CORP DEFINED 8,926
DIAMOND OFFSHORE DRILLING INC DEFINED 1 95,860
DIAMOND OFFSHORE DRILLING DEFINED 2 59,465
DIAMOND OFFSHORE DRILLING DEFINED 7,425
DISNEY WALT CO DEFINED 1 75,000
DISNEY WALT CO DEFINED 2 91,000
DISNEY WALT CO DEFINED 9,000
EL PASO ELEC CO DEFINED 1 6,500
EL PASO ELEC CO DEFINED 2 13,500
ELECTRIC LIGHTWAVE INC DEFINED 1 323,025
ELECTRIC LIGHTWAVE INC DEFINED 2 175,440
ELECTRIC LIGHTWAVE INC DEFINED 17,235
EMCOR GROUP INC DEFINED 1 52,426
EMCOR GROUP INC DEFINED 2 94,325
EMCOR GROUP INC DEFINED 9,900
FIRST AVIATION SERV RSTD(FAVS) DEFINED 2 518,163
FIRST AVIATION SERV RSTD(FAVS) DEFINED 1 86,223
</TABLE>
<PAGE>
PAGE 5 OF 11
NAME OF REPORTING MANAGER: CANYON CAPITAL ADVISORS, LLC
AS OF 6/30/99
<TABLE>
<CAPTION>
Column 3: Column 4: Column 5:
Column 1: Column 2: CUSIP Fair Shares or SH/ Put/
Name of Issuer Title of Class Number Market Principal PRN Call
Value ($000) Amount
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
FIRST AVIATION SERV RSTD(FAVS) COM 31865W108 1,342 335,435 SH
FOOTSTAR INC COM 344912100 1,711 46,000 SH
Page Total: 26,277
FOOTSTAR INC COM 344912100 1,859 50,000 SH
FOOTSTAR INC COM 344912100 149 4,000 SH
GLOBAL INDL TECHNOLOGIES INC COM 379335102 308 25,500 SH
GLOBAL INDL TECHNOLOGIES INC COM 379335102 277 23,000 SH
GLOBAL INDL TECHNOLOGIES INC COM 379335102 18 1,500 SH
HARRAHS ENTMT INC COM 413619107 335 15,230 SH
HARRAHS ENTMT INC COM 413619107 409 18,612 SH
HARRAHS ENTMT INC COM 413619107 28 1,258 SH
LEVEL ONE COMMUNICATIONS INC COM 527295109 9,938 203,074 SH
LEVEL ONE COMMUNICATIONS INC COM 527295109 10,284 210,136 SH
LEVEL ONE COMMUNICATIONS INC COM 527295109 577 11,790 SH
LIMITED INC COM 532716107 1,051 23,161 SH
LIMITED INC COM 532716107 1,484 32,710 SH
LIMITED INC COM 532716107 78 1,730 SH
LOEWS CINEPLEX ENTMT CORP COM 540423100 697 64,105 SH
<CAPTION>
Column 6: Column 7: Column 8:
Column 1: Investment Other VOTING AUTHORITY
Name of Issuer Discretion Managers (a) Sole (b) Shared (c)None
- -------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
FIRST AVIATION SERV RSTD(FAVS) DEFINED 335,435
FOOTSTAR INC DEFINED 1 46,000
FOOTSTAR INC DEFINED 2 50,000
FOOTSTAR INC DEFINED 4,000
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 1 15,230
HARRAHS ENTMT INC DEFINED 2 18,612
HARRAHS ENTMT INC DEFINED 1,258
LEVEL ONE COMMUNICATIONS INC DEFINED 1 203,074
LEVEL ONE COMMUNICATIONS INC DEFINED 2 210,136
LEVEL ONE COMMUNICATIONS INC DEFINED 11,790
LIMITED INC DEFINED 1 23,161
LIMITED INC DEFINED 2 32,710
LIMITED INC DEFINED 1,730
LOEWS CINEPLEX ENTMT CORP DEFINED 1 64,105
</TABLE>
<PAGE>
PAGE 6 OF 11
NAME OF REPORTING MANAGER: CANYON CAPITAL ADVISORS, LLC
AS OF 6/30/99
<TABLE>
<CAPTION>
Column 3: Column 4: Column 5:
Column 1: Column 2: CUSIP Fair Shares or SH/ Put/
Name of Issuer Title of Class Number Market Principal PRN Call
Value ($000) Amount
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
LOEWS CINEPLEX ENTMT CORP COM 540423100 740 68,047 SH
LOEWS CINEPLEX ENTMT CORP COM 540423100 37 3,448 SH
LOEWS CORP COM 540424108 684 8,640 SH
Page Total: 28,953
LOEWS CORP COM 540424108 1,058 13,365 SH
LOEWS CORP COM 540424108 71 895 SH
MAI SYSTEMS CORP COM 552620205 1,230 615,219 SH
MAI SYSTEMS CORP COM 552620205 1,345 672,506 SH
MAI SYSTEMS CORP COM 552620205 184 91,775 SH
MAXTOR CORP COM NEW 577729205 125 25,000 SH
MAXTOR CORP COM NEW 577729205 118 23,500 SH
MAXTOR CORP COM NEW 577729205 8 1,500 SH
MAXXAM INC COM 577913106 2,348 36,410 SH
MAXXAM INC COM 577913106 2,119 32,845 SH
MAXXAM INC COM 577913106 164 2,545 SH
MEDIAONE GROUP INC COM 58440J104 961 12,925 SH
MEDIAONE GROUP INC COM 58440J104 826 11,110 SH
MEDIAONE GROUP INC COM 58440J104 72 965 SH
<CAPTION>
Column 6: Column 7: Column 8:
Column 1: Investment Other VOTING AUTHORITY
Name of Issuer Discretion Managers (a) Sole (b) Shared (c)None
- -------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
LOEWS CINEPLEX ENTMT CORP DEFINED 2 68,047
LOEWS CINEPLEX ENTMT CORP DEFINED 3,448
LOEWS CORP DEFINED 1 8,640
LOEWS CORP DEFINED 2 13,365
LOEWS CORP DEFINED 895
MAI SYSTEMS CORP DEFINED 1 615,219
MAI SYSTEMS CORP DEFINED 2 672,506
MAI SYSTEMS CORP DEFINED 91,775
MAXTOR CORP DEFINED 1 25,000
MAXTOR CORP DEFINED 2 23,500
MAXTOR CORP DEFINED 1,500
MAXXAM INC DEFINED 1 36,410
MAXXAM INC DEFINED 2 32,845
MAXXAM INC DEFINED 2,545
MEDIAONE GROUP INC DEFINED 1 12,925
MEDIAONE GROUP INC DEFINED 2 11,110
MEDIAONE GROUP INC DEFINED 965
</TABLE>
<PAGE>
PAGE 7 OF 11
NAME OF REPORTING MANAGER: CANYON CAPITAL ADVISORS, LLC
AS OF 6/30/99
<TABLE>
<CAPTION>
Column 3: Column 4: Column 5:
Column 1: Column 2: CUSIP Fair Shares or SH/ Put/
Name of Issuer Title of Class Number Market Principal PRN Call
Value ($000) Amount
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
MERIDIAN DATA INC COM 589601103 579 66,150 SH
MERIDIAN DATA INC COM 589601103 507 57,985 SH
MERIDIAN DATA INC COM 589601103 95 10,865 SH
METRO GOLDWYN MAYER INC COM 591610100 666 36,500 SH
Page Total: 12,476
METRO GOLDWYN MAYER INC COM 591610100 931 51,000 SH
METRO GOLDWYN MAYER INC COM 591610100 49 2,700 SH
METROMEDIA INTL GROUP INC PFD CONV % 591695200 846 24,250 SH
METROMEDIA INTL GROUP INC PFD CONV % 591695200 420 12,050 SH
METROMEDIA INTL GROUP INC PFD CONV % 591695200 35 1,000 SH
NS GROUP INC COM 628916108 5,037 544,495 SH
NEWS CORP LTD SP ADR PFD 652487802 1,333 42,247 SH
NEWS CORP LTD SP ADR PFD 652487802 979 31,007 SH
NEWS CORP LTD SP ADR PFD 652487802 43 1,370 SH
NORTEK INC COM 656559101 8,597 277,329 SH
NORTEK INC COM 656559101 7,893 254,627 SH
NORTEK INC COM 656559101 287 9,244 SH
NU SKIN ENTERPRISES INC CL A 67018T105 114 11,719 SH
<CAPTION>
Column 6: Column 7: Column 8:
Column 1: Investment Other VOTING AUTHORITY
Name of Issuer Discretion Managers (a) Sole (b) Shared (c)None
- -------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
MERIDIAN DATA INC DEFINED 1 66,150
MERIDIAN DATA INC DEFINED 2 57,985
MERIDIAN DATA INC DEFINED 10,865
METRO GOLDWYN MAYER INC DEFINED 1 36,500
METRO GOLDWYN MAYER INC DEFINED 2 51,000
METRO GOLDWYN MAYER INC DEFINED 2,700
METROMEDIA INTL GROUP INC DEFINED 1 24,250
METROMEDIA INTL GROUP INC DEFINED 2 12,050
METROMEDIA INTL GROUP INC DEFINED 1,000
NS GROUP INC DEFINED 1 544,495
NEWS CORP LTD DEFINED 1 42,247
NEWS CORP LTD DEFINED 2 31,007
NEWS CORP LTD DEFINED 1,370
NORTEK INC DEFINED 1 277,329
NORTEK INC DEFINED 2 254,627
NORTEK INC DEFINED 9,244
NU SKIN ENTERPRISES INC DEFINED 2 11,719
</TABLE>
<PAGE>
PAGE 8 OF 11
NAME OF REPORTING MANAGER: CANYON CAPITAL ADVISORS, LLC
AS OF 6/30/99
<TABLE>
<CAPTION>
Column 3: Column 4: Column 5:
Column 1: Column 2: CUSIP Fair Shares or SH/ Put/
Name of Issuer Title of Class Number Market Principal PRN Call
Value ($000) Amount
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
PAYLESS SHOESOURCE INC COM 704379106 12,075 225,710 SH
PAYLESS SHOESOURCE INC COM 704379106 10,572 197,615 SH
PAYLESS SHOESOURCE INC COM 704379106 705 13,175 SH
PEGASUS COMMUNICATIONS CORP CL A 705904100 6,474 164,430 SH
PEGASUS COMMUNICATIONS CORP CL A 705904100 5,262 133,650 SH
Page Total: 61,652
PEGASUS COMMUNICATIONS CORP CL A 705904100 440 11,170 SH
PLAINS ALL AMERN PIPELINE L P UNIT LTD PARTN 726503105 255 13,750 SH
PLAINS ALL AMERN PIPELINE L P UNIT LTD PARTN 726503105 23 1,250 SH
PLAINS RES INC COM PAR $0.10 726540503 302 15,900 SH
PLAINS RES INC COM PAR $0.10 726540503 274 14,400 SH
PLAINS RES INC COM PAR $0.10 726540503 23 1,200 SH
POOL ENERGY SVCS CO COM 732788104 5,404 266,062 SH
POOL ENERGY SVCS CO COM 732788104 4,391 216,148 SH
POOL ENERGY SVCS CO COM 732788104 361 17,790 SH
PRIMEX TECHNOLOGIES INC COM 741597108 2,277 105,900 SH
PRIMEX TECHNOLOGIES INC COM 741597108 2,408 112,002 SH
PRIMEX TECHNOLOGIES INC COM 741597108 110 5,098 SH
<CAPTION>
Column 6: Column 7: Column 8:
Column 1: Investment Other VOTING AUTHORITY
Name of Issuer Discretion Managers (a) Sole (b) Shared (c)None
- -------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
PAYLESS SHOESOURCE INC DEFINED 1 225,710
PAYLESS SHOESOURCE INC DEFINED 2 197,615
PAYLESS SHOESOURCE INC DEFINED 13,175
PEGASUS COMMUNICATIONS CORP DEFINED 1 164,430
PEGASUS COMMUNICATIONS CORP DEFINED 2 133,650
PEGASUS COMMUNICATIONS CORP DEFINED 11,170
PLAINS ALL AMERN PIPELINE L P DEFINED 2 13,750
PLAINS ALL AMERN PIPELINE L P DEFINED 1,250
PLAINS RES INC DEFINED 1 15,900
PLAINS RES INC DEFINED 2 14,400
PLAINS RES INC DEFINED 1,200
POOL ENERGY SVCS CO DEFINED 1 266,062
POOL ENERGY SVCS CO DEFINED 2 216,148
POOL ENERGY SVCS CO DEFINED 17,790
PRIMEX TECHNOLOGIES INC DEFINED 1 105,900
PRIMEX TECHNOLOGIES INC DEFINED 2 112,002
PRIMEX TECHNOLOGIES INC DEFINED 5,098
</TABLE>
<PAGE>
PAGE 9 OF 11
NAME OF REPORTING MANAGER: CANYON CAPITAL ADVISORS, LLC
AS OF 6/30/99
<TABLE>
<CAPTION>
Column 3: Column 4: Column 5:
Column 1: Column 2: CUSIP Fair Shares or SH/ Put/
Name of Issuer Title of Class Number Market Principal PRN Call
Value ($000) Amount
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
R & B FALCON CORP COM 74912E101 555 59,195 SH
R & B FALCON CORP COM 74912E101 346 36,907 SH
R & B FALCON CORP COM 74912E101 37 3,898 SH
READ RITE CORP COM 755246105 28 4,506 SH
READ RITE CORP COM 755246105 25 4,021 SH
READ RITE CORP COM 755246105 1 123 SH
Page Total: 17,260
READ RITE CORP SUB NT CV 6.5%04 755246AA3 315 750,000 PRN
READ RITE CORP SUB NT CV 6.5%04 755246AA3 283 674,000 PRN
READ RITE CORP SUB NT CV 6.5%04 755246AA3 32 76,000 PRN
TELEPHONE & DATA SYS INC COM 879433100 1,953 26,733 SH
TELEPHONE & DATA SYS INC COM 879433100 1,611 22,054 SH
TELEPHONE & DATA SYS INC COM 879433100 89 1,213 SH
TENET HEALTHCARE CORP COM 88033G100 971 52,335 SH
TENET HEALTHCARE CORP COM 88033G100 926 49,900 SH
TENET HEALTHCARE CORP COM 88033G100 81 4,365 SH
TRANS WORLD ENTMT CORP COM 89336Q100 406 36,530 SH
TRANS WORLD ENTMT CORP COM 89336Q100 477 42,910 SH
<CAPTION>
Column 6: Column 7: Column 8:
Column 1: Investment Other VOTING AUTHORITY
Name of Issuer Discretion Managers (a) Sole (b) Shared (c)None
- -------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
R & B FALCON CORP DEFINED 1 59,195
R & B FALCON CORP DEFINED 2 36,907
R & B FALCON CORP DEFINED 3,898
READ RITE CORP DEFINED 1 4,506
READ RITE CORP DEFINED 2 4,021
READ RITE CORP DEFINED 123
READ RITE CORP DEFINED 1 750,000
READ RITE CORP DEFINED 2 674,000
READ RITE CORP DEFINED 76,000
TELEPHONE & DATA SYS INC DEFINED 1 26,733
TELEPHONE & DATA SYS INC DEFINED 2 22,054
TELEPHONE & DATA SYS INC DEFINED 1,213
TENET HEALTHCARE CORP DEFINED 1 52,335
TENET HEALTHCARE CORP DEFINED 2 49,900
TENET HEALTHCARE CORP DEFINED 4,365
TRANS WORLD ENTMT CORP DEFINED 1 36,530
TRANS WORLD ENTMT CORP DEFINED 2 42,910
</TABLE>
<PAGE>
PAGE 10 OF 11
NAME OF REPORTING MANAGER: CANYON CAPITAL ADVISORS, LLC
AS OF 6/30/99
<TABLE>
<CAPTION>
Column 3: Column 4: Column 5:
Column 1: Column 2: CUSIP Fair Shares or SH/ Put/
Name of Issuer Title of Class Number Market Principal PRN Call
Value ($000) Amount
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
TRANS WORLD ENTMT CORP COM 89336Q100 84 7,560 SH
TRANSAMERICA CORP COM 893485102 2,234 29,785 SH
TRANSAMERICA CORP COM 893485102 3,623 48,300 SH
TRANSAMERICA CORP COM 893485102 181 2,415 SH
VAIL RESORTS INC COM 91879Q109 656 37,500 SH
VAIL RESORTS INC COM 91879Q109 591 33,750 SH
VAIL RESORTS INC COM 91879Q109 66 3,750 SH
Page Total: 14,579
VENTAS INC COM VTR 597 111,000 SH
VENTAS INC COM VTR 517 96,100 SH
VENTAS INC COM VTR 48 8,900 SH
WHX CORP COM 929248102 2,104 320,573 SH
WHX CORP COM 929248102 1,475 224,742 SH
WHX CORP COM 929248102 90 13,785 SH
WALTER INDS INC COM 93317Q105 3,953 305,580 SH
WALTER INDS INC COM 93317Q105 4,093 316,396 SH
WALTER INDS INC COM 93317Q105 245 18,924 SH
WHITTAKER CORP DEL COM PAR $0.01 966680407 14,917 619,212 SH
<CAPTION>
Column 6: Column 7: Column 8:
Column 1: Investment Other VOTING AUTHORITY
Name of Issuer Discretion Managers (a) Sole (b) Shared (c)None
- -------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
TRANS WORLD ENTMT CORP DEFINED 7,560
TRANSAMERICA CORP DEFINED 1 29,785
TRANSAMERICA CORP DEFINED 2 48,300
TRANSAMERICA CORP DEFINED 2,415
VAIL RESORTS INC DEFINED 1 37,500
VAIL RESORTS INC DEFINED 33,750
VAIL RESORTS INC DEFINED 3,750
VENTAS INC DEFINED 1 111,000
VENTAS INC DEFINED 2 96,100
VENTAS INC DEFINED 8,900
WHX CORP DEFINED 1 320,573
WHX CORP DEFINED 2 224,742
WHX CORP DEFINED 13,785
WALTER INDS INC DEFINED 1 305,580
WALTER INDS INC DEFINED 2 316,396
WALTER INDS INC DEFINED 18,924
WHITTAKER CORP DEL DEFINED 1 619,212
</TABLE>
<PAGE>
PAGE 11 OF 11
NAME OF REPORTING MANAGER: CANYON CAPITAL ADVISORS, LLC
AS OF 6/30/99
<TABLE>
<CAPTION>
Column 3: Column 4: Column 5:
Column 1: Column 2: CUSIP Fair Shares or SH/ Put/
Name of Issuer Title of Class Number Market Principal PRN Call
Value ($000) Amount
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
WHITTAKER CORP DEL COM PAR $0.01 966680407 16,090 667,911 SH
WHITTAKER CORP DEL COM PAR $0.01 966680407 1,383 57,427 SH
ZAPATA CORP COM NEW 989070503 211 24,860 SH
ZAPATA CORP COM NEW 989070503 285 33,540 SH
ZAPATA CORP COM NEW 989070503 18 2,100 SH
Page Total: 46,026
Grand Total: 275,442
<CAPTION>
Column 6: Column 7: Column 8:
Column 1: Investment Other VOTING AUTHORITY
Name of Issuer Discretion Managers (a) Sole (b) Shared (c)None
- -------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
WHITTAKER CORP DEL DEFINED 2 667,911
WHITTAKER CORP DEL DEFINED 57,427
ZAPATA CORP DEFINED 1 24,860
ZAPATA CORP DEFINED 2 33,540
ZAPATA CORP DEFINED 2,100
</TABLE>
