UNITED STATES SECURTIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 13F
INFORMATION REQUIRED OF INSTITUTIONAL INVESTMENT MANAGERS
PURSUANT TO SECTION 13(F) OF THE SEC ACT OF 1934 AND RULES THEREUNDER
REPORT FOR THE CALENDER QUATER ENDED 3/31/99
PACIFIC ASSET MANAGEMENT LLC
1999 AVENUE OF THE STARS, SUITE 2530
LOS ANGELES, CA 90067
JONATHAN GLASER MANAGING MEMBER
(310)201-2619
THE INSTITUTIONAL MANGER SUBMITTING THIS FORM AND ITS ATTACHMENTS AND THE PERSON
BY WHOM IT IS SIGNED REPRESENT HEREBY THAT ALL INFORMATION CONTAINED THEREON
IS TRUE, CORRECT AND COMPLETE. IT IS UNDERSTOOD THAT ALL REQUIRED ITEMS,
STATEMENTS AND SCHEDULES ARE CONSIDERED INTERGRAL PARTS OF TTHIS FORM AND THAT
THE SUBMISSION BY ANY AMENDMENT REPRESENTS THAT ALL UNAMENDED ITEMS, STATEMENTS
AND SCHEDULES REMAIN TRUE, CORRECT AND COMPLETE AS PREVIOUSLY SUBMITTED.
PURSUANT TO THE REQUIREMENTS OF THE S.E.C. aCT 0F 1934, THE UNDERSIGNED
INSTITUTIONAL MANAGER HAS CAUSED THIS REPORT TO BE DSIGNED ON ITS BEHALF IN THE
CITY OF LOS ANGELES AND STATE OF CALIFORNIA ON THE 13TH DAY OF MAY 1999.
JONATHAN GLASER
MANAGING MEMBER
NOTE: THIS ENTITY DOES NOT HAVE IT'S OWN 13F FILE NUMBER.
<TABLE> <C> <C>
FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000)PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
AAMES FINANCIAL CORP SUB DEB C BND CONV 00253aae1 2093 5232000 PRN SOLE 0 0 0
ACCLAIM ENTMT INC CONV SUB NTS BND CONV 004325aa4 6216 3425000 PRN SOLE 0 0 0
ADVANCED MICRO DEVICES 6% BND CONV 007903ac1 7354 10250000 PRN SOLE 0 0 0
ALPHARMA INC CONV SUB NOTES BND CONV 020813ab7 5847 3866000 PRN SOLE 0 0 0
ALPHARMA INC CONV SUB NOTES 14 BND CONV 020813aa9 2647 1750000 PRN SOLE 0 0 0
ALTERNATIVE LIVING SERVICES IN BND CONV 02145kaa5 489 437000 PRN SOLE 0 0 0
AMAZON.COM INC SR SUB CONV NOT BND CONV 023135ad8 6944 5500000 PRN SOLE 0 0 0
AMKOR TECHNOLOGIES INC SUB NTS BND CONV 031652aa8 4590 5400000 PRN SOLE 0 0 0
ANGEION CORP CONV SR NOTE ACCR BND CONV 03462haa5 188 250000 PRN SOLE 0 0 0
APP FINANCE VI MAURTITUS LTD L BND CONV 00202naa3 681 4540000 PRN SOLE 0 0 0
APPLE COMPUTER INC CONV SUB NO BND CONV 037833ac4 968 750000 PRN SOLE 0 0 0
APPLE COMPUTER INC CONV SUB NO BND CONV 037833ae0 13411 10396000 PRN SOLE 0 0 0
APPLIED MAGNETICS CORP CV SUB BND CONV 038213aa2 632 1975000 PRN SOLE 0 0 0
ASPEN TECHNOLOGY INC SUB DEB C BND CONV 045327ab9 660 1000000 PRN SOLE 0 0 0
ASSISTED LIVING CONCEPTS INC S BND CONV 04543lag4 140 250000 PRN SOLE 0 0 0
ASSISTED LIVINGS CONCEPTS INC BND CONV 04543lad1 1578 2721000 PRN SOLE 0 0 0
AT HOME CORP CONV SUB DEB 144A BND CONV 045919aa5 12786 12006000 PRN SOLE 0 0 0
ATRIX LABS INC SUV NOTES CONV BND CONV 04962lac5 1230 1500000 PRN SOLE 0 0 0
AVIRON SUB NOTE CONV 144A BND CONV 053762aa8 435 500000 PRN SOLE 0 0 0
AVIRON SUB NTS CONV BND CONV 053762ac4 3480 4000000 PRN SOLE 0 0 0
BAAN CO NV SUB NT CONV BND CONV 056072ab7 355 500000 PRN SOLE 0 0 0
BANKATLANTIC BANCORP INC CONV BND CONV 065908ac9 398 500000 PRN SOLE 0 0 0
BANKATLANTIC BANCORP INC SUB D BND CONV 065908ab1 934 832000 PRN SOLE 0 0 0
BBN CORP SUB DEB CONV CALLABLE BND CONV 055283aa3 871 900000 PRN SOLE 0 0 0
BELL ATLANTIC FINL SVCS 144A S BND CONV 07785gac4 7648 7000000 PRN SOLE 0 0 0
BRADLEES STORES INC NTS BND CONV 104500aa1 385 500000 PRN SOLE 0 0 0
CAREMATRIX CORP SUB NOTE CONV BND CONV 141706ac5 860 1000000 PRN SOLE 0 0 0
CINCINNATI FINL CORP SR DEB CO BND CONV 172062ab7 5941 2425000 PRN SOLE 0 0 0
CIRRUS LOGIC INC CONV SUB NOTE BND CONV 172755ac4 503 750000 PRN SOLE 0 0 0
CIRRUS LOGIC INC SUB NT CONV 1 BND CONV 172755aa8 1273 1900000 PRN SOLE 0 0 0
CNET INC SUB NT CONV 144A BND CONV 125945aa3 6463 4625000 PRN SOLE 0 0 0
COEUR D ALENE MINES CORP IDAHO BND CONV 192108af5 3620 6135000 PRN SOLE 0 0 0
COEUR D ALENE MINES CORP IDAHO BND CONV 192108ag3 590 1000000 PRN SOLE 0 0 0
COMVERSE TECHNOLOGY INC SUB DE BND CONV 205862ae5 945 500000 PRN SOLE 0 0 0
CONCENTRA MANAGED CARE INC CON BND CONV 20589taa1 470 500000 PRN SOLE 0 0 0
CONTINENTAL AIRLINES INC CONV BND CONV 210795as9 5302 4150000 PRN SOLE 0 0 0
CONVERSE INC DEL SUB NOTE CONV BND CONV 212540aa6 112 350000 PRN SOLE 0 0 0
DANKA BUSINESS SYSTEMS PLC SUB BND CONV 236277ab5 520 1000000 PRN SOLE 0 0 0
DATA GENERAL CORP CONV SUB NOT BND CONV 237688ag1 11450 14312500 PRN SOLE 0 0 0
DOUBLECLICK INC CONV SUB NOTES BND CONV 258609aa4 5010 4000000 PRN SOLE 0 0 0
E M C CORP MASS CONV SUB NOTE BND CONV 268648ac6 2822 500000 PRN SOLE 0 0 0
EMC CORP SUB NT CONV BND CONV 26865yaa2 55021 9749000 PRN SOLE 0 0 0
EXODUS COMMUNICATIONS INC SUB BND CONV 302088ac3 8974 5600000 PRN SOLE 0 0 0
FAMILY GOLF CENTER INC CONV SU BND CONV 30701aaa4 900 1500000 PRN SOLE 0 0 0
GENERAL DATACOMM INDS INC SR S BND CONV 369487ad5 178 300000 PRN SOLE 0 0 0
GILAT SATELLITE NETWORKS LTD S BND CONV 375255ab2 6098 3960000 PRN SOLE 0 0 0
GLOBAL TELESYSTEMS GROUP INC C BND CONV 37936uae4 13850 11750000 PRN SOLE 0 0 0
HEXCEL CORP NEW CONV SUB NOTES BND CONV 428291aa6 1428 1690000 PRN SOLE 0 0 0
HOMEBASE INC CONV SUB NOTES 14 BND CONV 43738eaa6 1775 2500000 PRN SOLE 0 0 0
HOMEBASE INC CONV SUB NTS BND CONV 43738eab4 2219 3125000 PRN SOLE 0 0 0
HUTCHINSON TECHNOLOGY INC CONV BND CONV 448407aa4 1101 1000000 PRN SOLE 0 0 0
HUTCHINSON TECHNOLOGY INC CONV BND CONV 448407ac0 2615 2375000 PRN SOLE 0 0 0
IDEC PHARMACEUTICALS CORP LIQU BND CONV 449370aa3 388 1000000 PRN SOLE 0 0 0
INACOM CORP SUB DEB 4.5% BND CONV 45323gac3 3225 3225000 PRN SOLE 0 0 0
INACOM CORP SUB DEB 6% BND CONV 45323gab5 3883 3883000 PRN SOLE 0 0 0
KTI INC EXCHANGE NTS BND CONV 482689aa4 773 750000 PRN SOLE 0 0 0
LOEWS CORP SUB NOTE EXCH INTO BND CONV 540424al2 2515 2950000 PRN SOLE 0 0 0
LSI LOGIC CORP SUB NOTE CONV 1 BND CONV 502161ab8 2994 2500000 PRN SOLE 0 0 0
MAY & SPEH INC SUB NTS CONV BND CONV 577777aa3 9586 6450000 PRN SOLE 0 0 0
MEDIMMUNE INC CONV SUB NOTES 1 BND CONV 584699aa0 2412 400000 PRN SOLE 0 0 0
MEDIMMUNE INC SUB NOTE CONV BND CONV 584699ac6 10553 1750000 PRN SOLE 0 0 0
METRICOM INC CONV SUB NOTE BND CONV 591596ac5 2118 3362000 PRN SOLE 0 0 0
MICRON TECHNOLOGIES 7% 7/04 BND CONV 595112ab9 6527 6143000 PRN SOLE 0 0 0
NETWORK ASSOCIATES INC CONV SU BND CONV 640938ab2 1445 4000000 PRN SOLE 0 0 0
NEXSTAR PHARMACEUTICALS INC SU BND CONV 65333bac0 7499 6500000 PRN SOLE 0 0 0
NTL INC CONV SUB NOTES 144A BND CONV 629407ak3 9075 6000000 PRN SOLE 0 0 0
PETSMART INC CONV SUB NOTES BND CONV 716768ab2 6509 5825000 PRN SOLE 0 0 0
PETSMART INC SUB NOTE CONV 144 BND CONV 716768aa4 5588 5000000 PRN SOLE 0 0 0
PIONEER FINL SVCS INC CONV SUB BND CONV 723672ae1 2772 2390000 PRN SOLE 0 0 0
PLATINUM TECHNOLOGY INTL INC C BND CONV 72764taa9 14680 7840000 PRN SOLE 0 0 0
RENT WAY INS SUB DEB CONV BND CONV 76009uab0 366 200000 PRN SOLE 0 0 0
RES-CARE INC CONV SUB NOTES BND CONV 760943ac4 1289 1000000 PRN SOLE 0 0 0
SIMULA INC SR SUB NTS CONV BND CONV 829206ab7 1361 1660000 PRN SOLE 0 0 0
SPORTSLINE USA INC CONV SUB NT BND CONV 848934aa3 4323 4750000 PRN SOLE 0 0 0
STILLWATER MINING CO SUB NOTE BND CONV 86074qac6 8864 5995000 PRN SOLE 0 0 0
SYSTEM SOFTWARE ASSOC INC CONV BND CONV 871839aa4 510 1000000 PRN SOLE 0 0 0
TELE COMMUNICATIONS INTL INC C BND CONV 87924haa0 6216 5550000 PRN SOLE 0 0 0
TITAN CORP CONV SUB DEB BND CONV 888266aa1 6294 4141000 PRN SOLE 0 0 0
TOTAL RENAL CARE HLDGS INC SUB BND CONV 89151aaa5 982 1300000 PRN SOLE 0 0 0
TRANS LUX CORP CONV SUB NOTES BND CONV 893247ad8 220 225000 PRN SOLE 0 0 0
TRANS WORLD AIRLINES INC SR SE BND CONV 893349bg4 4048 4400000 PRN SOLE 0 0 0
TRIARC COS INC BND CONV 89527aa9 563 2500000 PRN SOLE 0 0 0
VERITAS SOFTWARE CORP CONV SUB BND CONV 923436ab5 24765 12022000 PRN SOLE 0 0 0
WESTFED HOLDINGS INC MNT SER D BND CONV 960080ab5 213 250000 PRN SOLE 0 0 0
WHITTAKER CORP SUB NOTE CONV BND CONV 966680ag5 4620 3500000 PRN SOLE 0 0 0
WORLD ACCESS INC CONV SUB NOTE BND CONV 98141aaa9 1187 2120000 PRN SOLE 0 0 0
WORLD ACCESS INC SUB CONV NOTE BND CONV 98141aac5 3917 6995000 PRN SOLE 0 0 0
ABBOTT LABS JAN 050 CALL 00 CALL 2824100 216 480 SH CALL SOLE 0 0 0
ABERCROMBIE& AUG 085 CALL CALL 0028969H3 358 220 SH CALL SOLE 0 0 0
AIRTOUCH COM JUL 080 CALL CALL 00949t9G7 230 120 SH CALL SOLE 0 0 0
ALTERA CORP JAN 065 CALL 00 CALL 21441100 128 110 SH CALL SOLE 0 0 0
AM HOME PROD APR 060 CALL CALL 0266099D1 118 200 SH CALL SOLE 0 0 0
AM HOME PROD OCT 070 CALL CALL 26609107 195 400 SH CALL SOLE 0 0 0
AMAZON COM JUL 130 CALL ADJ 3 CALL 23135106 228 40 SH CALL SOLE 0 0 0
AMER INTL GP JAN 130 CALL 00 CALL 26874107 108 100 SH CALL SOLE 0 0 0
AMERITECH JAN 060 CALL 00 CALL 30954101 112 183 SH CALL SOLE 0 0 0
AMERN EXPRES JAN 140 CALL 00 CALL 0258169G6 666 740 SH CALL SOLE 0 0 0
AMERN EXPRES JAN 150 CALL CALL 25816109 176 300 SH CALL SOLE 0 0 0
AMP INC MAY 050 CALL CALL 31897101 193 335 SH CALL SOLE 0 0 0
APPLIED MAT JUL 065 CALL CALL 38222105 152 230 SH CALL SOLE 0 0 0
AT&T CORP JAN 075 CAL CALL 9195710 663 500 SH CALL SOLE 0 0 0
AT&T CP-LIB APR 035 CALL CALL 9195710 469 270 SH CALL SOLE 0 0 0
AT&T CP-LIB APR 040 CALL CALL 9195710 124 100 SH CALL SOLE 0 0 0
BANKAMERICA JAN 090 CALL CALL 06605F102 152 505 SH CALL SOLE 0 0 0
BANKER TRUST JUL 070 CALL CALL 66365107 199 100 SH CALL SOLE 0 0 0
BRISTOL SQB JAN 070 CALL 00 CALL 110122108 460 800 SH CALL SOLE 0 0 0
BRLNGTON RES AUG 040 CALL CALL 122014103 250 500 SH CALL SOLE 0 0 0
CHASE MNHATN JAN 045 CALL 00 CALL 16161A108 378 100 SH CALL SOLE 0 0 0
CISCO SYS JAN 130 CALL 00 CALL 172967101 128 100 SH CALL SOLE 0 0 0
CISCO SYS JUL 090 CALL CALL 172967101 539 220 SH CALL SOLE 0 0 0
COCA COLA CO AUG 070 CALL CALL 191216100 110 550 SH CALL SOLE 0 0 0
COLTEC INDS APR 015 CALL CALL 196879100 350 1000 SH CALL SOLE 0 0 0
CORNING INC JAN 065 CALL 00 CALL 219350105 306 500 SH CALL SOLE 0 0 0
COSTCO COS JUL 085 CALL CALL 22160Q102 144 115 SH CALL SOLE 0 0 0
EMC CORP JAN 22.5 CALL 00 CALL 268648102 5281 500 SH CALL SOLE 0 0 0
FED NATL MTG JAN 080 CALL 00 CALL 313586109 122 250 SH CALL SOLE 0 0 0
FORD MOTOR JAN 050 CALL 01 CALL 345370100 139 100 SH CALL SOLE 0 0 0
GENL ELECT SEP 110 CALL CALL 369604103 115 100 SH CALL SOLE 0 0 0
GILLETTE CO JAN 040 CALL 00 CALL 375766102 1176 547 SH CALL SOLE 0 0 0
GILLETTE CO JAN 060 CALL 00 CALL 375766102 102 125 SH CALL SOLE 0 0 0
HALLIBURTON OCT 040 CALL CALL 406216101 128 250 SH CALL SOLE 0 0 0
HEWLETT PACK JAN 055 CALL 00 CALL 428236103 463 250 SH CALL SOLE 0 0 0
HEWLETT PACK JAN 085 CALL 00 CALL 428236103 281 500 SH CALL SOLE 0 0 0
HEWLETT PACK JAN 085 CALL 01 CALL 428236103 115 100 SH CALL SOLE 0 0 0
HEWLETT PACK JAN 095 CALL 00 CALL 428236103 186 550 SH CALL SOLE 0 0 0
IBM JUL 200 CALL CALL 459200101 144 250 SH CALL SOLE 0 0 0
JOHNSON&JOHN JAN 085 CALL 00 CALL 478160104 329 219 SH CALL SOLE 0 0 0
LEXMARK INTL APR 070 CALL CALL 529771107 789 190 SH CALL SOLE 0 0 0
LEXMARK INTL APR 075 CALL CALL 529771107 219 60 SH CALL SOLE 0 0 0
LUBRIZOL CP NOV 22.5 CALL CALL 549271104 110 400 SH CALL SOLE 0 0 0
LUCENT TECH APR 105 CALL CALL 549463107 125 200 SH CALL SOLE 0 0 0
LUCENT TECH JUL 100 CALL CALL 549463107 173 100 SH CALL SOLE 0 0 0
LUCENT TECH JUL 110 CALL CALL 549463107 182 150 SH CALL SOLE 0 0 0
M.S.D.W.&CO JUL 100 CALL CALL 617446448 108 105 SH CALL SOLE 0 0 0
M.S.D.W.DISC JAN 100 CALL 0O CALL 617446448 469 278 SH CALL SOLE 0 0 0
MEDIAONE GRP JAN 055 CALL 00 CALL 58440J106 150 100 SH CALL SOLE 0 0 0
MEDTRONIC AUG 075 CALL CALL 585055106 125 200 SH CALL SOLE 0 0 0
MERCK & CO APR 070 CALL CALL 589331107 366 340 SH CALL SOLE 0 0 0
MERCK & CO JAN 080 CALL 00 CALL 589331107 273 270 SH CALL SOLE 0 0 0
MERCK & CO JUL 080 CALL CALL 589331107 145 246 SH CALL SOLE 0 0 0
MERCK & CO JUL 085 CALL CALL 589331107 270 770 SH CALL SOLE 0 0 0
MERCK & CO OCT 090 CALL CALL 589331107 424 1027 SH CALL SOLE 0 0 0
MICROSOFT CP APR 060 CALL CALL 594918104 1195 400 SH CALL SOLE 0 0 0
MICROSOFT CP JAN 085 CALL CALL 594918104 480 300 SH CALL SOLE 0 0 0
MICROSOFT CP JUL 075 CALL CALL 594918104 180 100 SH CALL SOLE 0 0 0
MICROSOFT CP JUL 080 CALL CALL 594918104 1725 1200 SH CALL SOLE 0 0 0
MICROSOFT CP JUL 87.5 CALL CALL 594918104 190 200 SH CALL SOLE 0 0 0
MOBIL CORP JAN 075 CALL 01 CALL 607059102 231 110 SH CALL SOLE 0 0 0
NABISCO HLDG SEP 040 CALL CALL 74960K876 105 200 SH CALL SOLE 0 0 0
PEPSICO INC JAN 045 CALL 00 CALL 713448108 193 700 SH CALL SOLE 0 0 0
PEPSICO INC JAN 42.5 CALL 00 CALL 713448108 128 330 SH CALL SOLE 0 0 0
PFIZER INC JUN 130 CALL CALL 717081103 145 100 SH CALL SOLE 0 0 0
PFIZER INC JUN 135 CALL CALL 717081103 134 120 SH CALL SOLE 0 0 0
PFIZER INC MAY 150 CALL CALL 717081103 125 500 SH CALL SOLE 0 0 0
PHARMACIA&UP JUL 060 CALL CALL 716941109 126 210 SH CALL SOLE 0 0 0
PROCT&GAMBLE JAN 095 CALL 00 CALL 742718109 134 100 SH CALL SOLE 0 0 0
QUAKER OATS JAN 060 CALL 00 CALL 747402105 165 200 SH CALL SOLE 0 0 0
SCHERNG PLGH JAN 055 CALL CALL 806605101 114 150 SH CALL SOLE 0 0 0
SCHERNG PLGH MAY 060 CALL CALL 806605101 177 1575 SH CALL SOLE 0 0 0
SEAGRAM LTD MAY 035 CALL CALL 811850106 381 250 SH CALL SOLE 0 0 0
SEAGRAM LTD MAY 32.5 CALL CALL 811850106 249 140 SH CALL SOLE 0 0 0
SOLECTRON CP APR 035 CALL CALL 834182107 134 100 SH CALL SOLE 0 0 0
TEXAS INSTRS APR 065 CALL CALL 888250810 863 250 SH CALL SOLE 0 0 0
TEXAS INSTRS JAN 060 CALL CALL 888250810 1075 250 SH CALL SOLE 0 0 0
TEXAS INSTRS JAN 150 CALL CALL 888250810 193 350 SH CALL SOLE 0 0 0
TJX CO INC APR 22.5 CALL CALL 872540109 233 200 SH CALL SOLE 0 0 0
TYCO INTL JAN 075 CALL 00 CALL 902124106 104 100 SH CALL SOLE 0 0 0
WALGREEN CO APR 025 CALL CALL 391422109 990 2730 SH CALL SOLE 0 0 0
WAL-MART STR JAN 100 CALL 00 CALL 931142103 291 268 SH CALL SOLE 0 0 0
WAL-MART STR JUN 085 CALL CALL 931142103 230 200 SH CALL SOLE 0 0 0
WAL-MART STR JUN 090 CALL CALL 931142103 128 150 SH CALL SOLE 0 0 0
WAL-MART STR JUN 100 CALL CALL 931142103 145 362 SH CALL SOLE 0 0 0
WASTE MGMT JAN 020 CALL 00 CALL 94106L109 260 200 SH CALL SOLE 0 0 0
WASTE MGMT JAN 040 CALL 00 CALL 94106L109 256 1000 SH CALL SOLE 0 0 0
ADVANTA CORP-CL B NON-VTG COM 794220400 917 102550 SH SOLE 0 0 0
ALBERTO CULVER CO-CL A COM 13068200 3038 142960 SH SOLE 0 0 102550
AMER INTERNATIONAL GROUP INC COM 26874107 483 4000 SH SOLE 4000 0 0
AMERICA ONLINE INC-DEL COM 02364j104 146 1000 SH SOLE 1000 0 0
AMERICAN BANKERS INSURANCE GRO COM 24456105 624 12000 SH SOLE 12000 0 0
AMWAY JAPAN LTD SPONSORED ADR COM 03234j100 106 24237 SH SOLE 24237 0 0
ARCHER-DANIELS-MIDLAND CO COM 39483102 353 24000 SH SOLE 24000 0 0
ARDEN REALTY INC COM 39793104 742 33350 SH SOLE 33350 0 0
ASSOCIATED GROUP INC-CL A COM 45651106 2437 49175 SH SOLE 49175 0 0
ASSOCIATED GROUP INC-CL B COM 45651205 10746 221575 SH SOLE 221575 0 0
ASTRA AB-SPONSORED ADR REPSTG COM 46298105 156 6800 SH SOLE 6800 0 0
ATLANTIC RICHFIELD CO COM 48825103 292 4000 SH SOLE 4000 0 0
AVADO FINANCING I TERM SECS SE COM 05336q205 1788 55000 SH SOLE 55000 0 0
BANCO GANADERO SA-SPONSORED AD COM 59594507 122 13000 SH SOLE 13000 0 0
BANDAG INC-CL A COM 59815308 333 14000 SH SOLE 14000 0 0
BANKAMERICA CORP NEW COM 06605f102 219 3100 SH SOLE 3100 0 0
BANNER AEROSPACE INC COM 665251060 1167 158250 SH SOLE 158250 0 0
BARRICK GOLD CORP COM 67901108 154 9050 SH SOLE 9050 0 0
BELLSOUTH CORP COM 79860102 188 4700 SH SOLE 4700 0 0
BERKSHIRE HATHAWAY INC-DEL COM 84670207 284 121 SH SOLE 121 0 0
BROWN FORMAN CORP-CL A COM 115637100 1925 35650 SH SOLE 35650 0 0
CABLE & WIRELESS COMMUNI- CATI COM 12682p104 136 2400 SH SOLE 2400 0 0
CANANDAIGUA BRANDS INC-CL A COM 137219200 136 2700 SH SOLE 2700 0 0
CASTLE & COOKE INC NEW COM 148433105 203 15200 SH SOLE 15200 0 0
CD RADIO INC COM 125127100 1300 50000 SH SOLE 50000 0 0
CENDANT CORP COM 151313103 187 11850 SH SOLE 11850 0 0
CENTRAL PARKING CORP COM 154785109 159 4600 SH SOLE 4600 0 0
CENTRAL PARKING FINANCE TRUST COM 154785109 310 15000 SH SOLE 15000 0 0
CHIQUITA BRANDS INTERNATIONAL COM 170032502 1394 31200 SH SOLE 31200 0 0
CITADEL HOLDING CORP COM 172862104 1031 317316 SH SOLE 317316 0 0
CLAIRES STORES INC COM 179584107 105 3500 SH SOLE 3500 0 0
CNA FINANCIAL CORP COM 126117100 233 6000 SH SOLE 6000 0 0
COCA COLA CO COM 191216100 865 14100 SH SOLE 14100 0 0
COEUR D ALENE MINES CORP COM 192108108 159 38550 SH SOLE 38550 0 0
COMCAST CORP PHONES EXCH EXT S COM 200300408 1200 15000 SH SOLE 15000 0 0
COMPAQ COMPUTER CORP COM 204493100 127 4000 SH SOLE 4000 0 0
COMPUT ASSOCIATES INTL INC COM 204912109 107 3000 SH SOLE 3000 0 0
COMPUTER CONCEPTS CORP NEW COM 204897300 810 341000 SH SOLE 341000 0 0
COMSAT CORP-SERIES 1 COM 20564d107 405 14000 SH SOLE 14000 0 0
CONAGRA INC COM 205887102 358 14000 SH SOLE 14000 0 0
CONSOLIDATED EDISON INC COM 209115104 317 7000 SH SOLE 7000 0 0
CONTINENTAL AIRLINES INC-CL B COM 210795308 152 4000 SH SOLE 4000 0 0
CRANE CO COM 224399105 242 10000 SH SOLE 10000 0 0
CREATIVE COMPUTERS INC COM 2.25E+111 374 12400 SH SOLE 12400 0 0
CRESCENT REAL ESTATE EQUITIES COM 225756204 479 30150 SH SOLE 30150 0 0
DAIMLERCHRYSLER A.G. COM COM d1668r123 257 3000 SH SOLE 3000 0 0
DENTAL/MEDICAL DIAGNOSTIC COM 24873K208 824 102250 SH SOLE 102250 0 0
E I DU PONT DE NEMOURS & CO COM 263534109 116 2000 SH SOLE 2000 0 0
EAGLE HARDWARE & GARDEN INC COM 26959b101 2523 66066 SH SOLE 66066 0 0
ENRON OIL & GAS CO COM 293562104 224 13500 SH SOLE 13500 0 0
ENSTAR INC COM 29358M108 108 12250 SH SOLE 12250 0 0
ESSEX INTERNATIONAL INC-DEL COM 297025108 2542 107050 SH SOLE 107050 0 0
EXCITE INC COM 300904109 2646 18900 SH SOLE 18900 0 0
EXECUTONE INFORMATION SYSTEMS COM 301607107 561 154800 SH SOLE 154800 0 0
EXODUS COMMUNICATIONS INC COM 302088109 135 1000 SH SOLE 1000 0 0
EXXON CORP COM 302290101 353 5000 SH SOLE 5000 0 0
FAIRCHILD CORP-CL A COM 303698104 323 31705 SH SOLE 31705 0 0
FEDERAL-MOGUL FINANCING TRUST COM 313552200 6448 118050 SH SOLE 118050 0 0
FEDERATED DEPARTMENT STORES IN COM 31410h127 1891 122000 SH SOLE 122000 0 0
FIRST WASHINGTON REALTY TRUST COM 337489504 339 12500 SH SOLE 12500 0 0
FLETCHER CHALLENGE LTD SPONSOR COM 339324402 356 93400 SH SOLE 93400 0 0
GENERAL GROWTH PPTYS INCPFD DE COM 370021206 632 27800 SH SOLE 27800 0 0
GENERAL MOTORS CORP COM 370442105 1043 12000 SH SOLE 12000 0 0
GLAXO WELLCOME PLC SPONSORED A COM 37733w105 536 8000 SH SOLE 8000 0 0
GNRL INSTRUMENT CORP-DEL COM 370120107 121 4000 SH SOLE 4000 0 0
HARRIS CORP-DEL COM 413875105 100 3500 SH SOLE 3500 0 0
HERBALIFE DEC TRUST III (EXCH COM 243665205 419 39461 SH SOLE 39461 0 0
HINES HORTICULTURE INC COM 433245107 107 13000 SH SOLE 13000 0 0
HOST MARRIOTT FINANCIAL TRUST COM 44107P104 2213 56200 SH SOLE 56200 0 0
IHOP CORP NEW COM 449623107 177 4500 SH SOLE 4500 0 0
INTEL CORP COM 458140100 179 1500 SH SOLE 1500 0 0
INTERMEDIA COMMUNICATIONS COM 458801107 390 14639 SH SOLE 14639 0 0
INTERMEDIA COMMUNICATIONS INC COM 458801701 2738 75000 SH SOLE 75000 0 0
INTERNATIONAL PAPER CO COM 460146103 1561 37000 SH SOLE 37000 0 0
INTERVU INC COM 46114r106 244 5500 SH SOLE 5500 0 0
J P MORGAN & CO INC COM 616880100 123 1000 SH SOLE 1000 0 0
JEFFERIES GROUP INC COM 472318104 152 3197 SH SOLE 3197 0 0
JMC GROUP INC COM 466218104 329 292600 SH SOLE 292600 0 0
JONES INTERCABLE INC COM 480206101 187 4675 SH SOLE 4675 0 0
LABORATORY CORP OF AMERICA COM 50540R102 126 2600 SH SOLE 2600 0 0
LEVEL ONE COMMUNICATIONS INC COM 527295109 1692 34800 SH SOLE 34800 0 0
LIMITED INC COM 532716107 1942 49000 SH SOLE 49000 0 0
LOEWS CORP COM 540424108 149 2000 SH SOLE 2000 0 0
LORAL SPACE & COMMUNICATION LT COM g56462149 8892 199250 SH SOLE 199250 0 0
LSI LOGIC CORP COM 502161102 331 10600 SH SOLE 10600 0 0
MAUI LAND & PINEAPPLE CO INC COM 577345101 1223 122300 SH SOLE 122300 0 0
MAXTOR DECS TRUST IV COM 243664208 720 90000 SH SOLE 90000 0 0
MCDONALDS CORP COM 580135101 181 4000 SH SOLE 4000 0 0
MEDIAONE GROUP PREM INCOME EXC COM 58440j401 2015 24350 SH SOLE 24350 0 0
MERCANTILE BANCORPORATION-MO COM 587342106 119 2500 SH SOLE 2500 0 0
MERRILL LYNCH & CO INC COM 590188108 159 1800 SH SOLE 1800 0 0
MINIMED INC COM 60365k108 254 2500 SH SOLE 2500 0 0
MOLEX INC CL A COM 608554200 995 38450 SH SOLE 38450 0 0
NEXTEL STRYPES TR-STRUCTURED COM 65332V103 1447 46300 SH SOLE 46300 0 0
OCEAN ENERGY INC NEW COM 674812201 347 51000 SH SOLE 51000 0 0
OMNIPOINT CORP-DEP SHS REPSTG COM 68212d606 1300 40000 SH SOLE 40000 0 0
OMNIPOINT CORP-DEP SHS REPSTG COM 68212d607 2113 65000 SH SOLE 65000 0 0
OWENS & MINOR TRUST I GTD TERM COM 690905302 1183 32850 SH SOLE 32850 0 0
P & F INDUSTRIES INC-CL A NEW COM 692830508 126 13200 SH SOLE 13200 0 0
PACIFICARE HEALTH SYSTEMS INC COM 695112102 391 6500 SH SOLE 6500 0 0
PARKPLACE ENTERTAINMENT CORP COM 700690100 100 13250 SH SOLE 13250 0 0
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692456
</TABLE>
