The United States Securities and Exchange Commission
Washington, D.C. 20549
Form 13F
Information Required of Institutional Investment Managers Pursuant to
Section 13 (f) Securities Exchange Act of 1934 and Rules Thereunder.
Report for the Calendar Year or Quarter Ended December 31, 1999.
Name of Institutional Investment Manager: Pacific Asset Management LLC
Business Address: 1999 Avenue of the Stars, #2530
Los Angeles, CA 90067
Jonathan Glaser, 310-201-2619
Managing Member
The institutional investment manager submitting this Form and its attachments
and the person by whom it is signed represents 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 this
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 Securities Act
of 1934, the undersigned institutional investment manager has caused this report
to be signed on its behalf in the City of Los Angeles and State of California
on the 9th day of February 2000.
Pacific Asset Management
Jonathan Glaser, Managing Member
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FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLACUSIP (x$1000PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
AAMES FINANCIAL CORP SUB DEB CONV BND CONV 00253aae1 2416 6620000 PRN Sole 0 0 0
ACCLAIM ENTMT INC CONV SUB NTS BND CONV 004325aa4 4823 4425000 PRN Sole 0 0 0
ACTIVISION INC NEW CONV SUB NOTES BND CONV 004930ac7 975 1000000 PRN Sole 0 0 0
ADVANCED ENERGY INDUSTRIES INC SUB NOTE CONV BND CONV 007973aa8 585 500000 PRN Sole 0 0 0
ADVANCED MICRO DEVICES SUB NOTE CONV BND CONV 007903ac114812 15250000 PRN Sole 0 0 0
AFFYMETRIX INC CONV 144A BND CONV 00826taa6 3745 2480000 PRN Sole 0 0 0
ALPHARMA INC CONV SR SUB NOTES 144A W/RR BND CONV 020813ac5 1088 1000000 PRN Sole 0 0 0
ALPHARMA INC CONV SUB NOTES BND CONV 020813ab7 5772 4861000 PRN Sole 0 0 0
ALPHARMA INC CONV SUB NOTES 144A 5.75% BND CONV 020813aa9 891 750000 PRN Sole 0 0 0
AMAZON COM INC CONV SUB NTS BND CONV 023135af334618 30500000 PRN Sole 0 0 0
AMAZON.COM INC SR SUB CONV NOTES 144A BND CONV 023135ad8 6810 6000000 PRN Sole 0 0 0
AMERICA ONLINE INC DEL CONV SUB NOTE BND CONV 02364jac816401 28850000 PRN Sole 0 0 0
AMERICAN TOWER CORP CONV NT BND CONV 029912ab812950 9250000 PRN Sole 0 0 0
AMERICAN TOWER CORP CONV NT (DISC NTS) BND CONV 029912ad411715 12000000 PRN Sole 0 0 0
AMERICAN TOWER CORP CONV NT (STD NTS)-144A R/BND CONV 029912aa0 2800 2000000 PRN Sole 0 0 0
AMERITRADE HLDG CORP SUB NT CONV BND CONV 03072hab5 4284 5040000 PRN Sole 0 0 0
AMERITRADE HLDG CORP SUB NT CONV 144A BND CONV 03072haa7 2593 3050000 PRN Sole 0 0 0
AMKOR TECHNOLOGIES INC SUB NTS CONV BND CONV 031652aa8 7069 3250000 PRN Sole 0 0 0
ANGEION CORP CONV SR NOTE ACCREDITED INVS BND CONV 03462haa5 150 250000 PRN Sole 0 0 0
APP FINANCE VI MAURTITUS LTD LIQUID YLD OPTN BND CONV 00202naa3 1214 7040000 PRN Sole 0 0 0
APPLIED MAGNETICS CORP CV SUB DEB BND CONV 038213aa2 590 11796000 PRN Sole 0 0 0
ARBOR SOFTWARE CORP SUB NOTE CONV BND CONV 038918ac2 2450 2500000 PRN Sole 0 0 0
ASM LITHOGRAPHY HOLDING REG S BND CONV n07059ac7 584 500000 PRN Sole 0 0 0
ASM LITHOGRAPHY HOLDINGS N V CONV SUB NOTES 1BND CONV 00207eab6 1200 1000000 PRN Sole 0 0 0
ASPEN TECHNOLOGY INC SUB DEB CONV BND CONV 045327ab9 795 1000000 PRN Sole 0 0 0
ASSISTED LIVING CONCEPTS INC SUB DEB CONV 144BND CONV 04543lae9 290 500000 PRN Sole 0 0 0
ASSISTED LIVINGS CONCEPTS INC CONV SUB DEBS BND CONV 04543lad1 1564 2606000 PRN Sole 0 0 0
AT HOME CORP CONV SUB DEB 144A BND CONV 045919aa5 6266 10006000 PRN Sole 0 0 0
AT HOME CORP CONV SUB NOTES BND CONV 045919ac124987 39900000 PRN Sole 0 0 0
AT HOME CORP SUB NOTE CONV 4.75% 144A BND CONV 045919ad9 4775 5000000 PRN Sole 0 0 0
ATRIX LABS INC SUV NOTES CONV BND CONV 04962lac5 865 1500000 PRN Sole 0 0 0
AVIRON SUB NOTE CONV 144A BND CONV 053762aa8 355 500000 PRN Sole 0 0 0
AVIRON SUB NTS CONV BND CONV 053762ac4 3958 5575000 PRN Sole 0 0 0
BAAN CO NV SUB NT CONV REGISTER BND CONV 056072ab7 540 600000 PRN Sole 0 0 0
BANKATLANTIC BANCORP INC CONV SUB DEBS BND CONV 065908ac9 303 500000 PRN Sole 0 0 0
BANKATLANTIC BANCORP INC SUB DEB CV BND CONV 065908ab1 747 832000 PRN Sole 0 0 0
BEA SYSTEMS INC SUB NOTE CONV BND CONV 073325ac6 5243 4500000 PRN Sole 0 0 0
BELL ATLANTIC FINANCIAL REG-S BND CONV u0778kad4 9610 7750000 PRN Sole 0 0 0
BELL ATLANTIC FINL SVCS 144A SR NT EXCHANGEABBND CONV 07785gac420076 16190000 PRN Sole 0 0 0
BENCHMARK ELECTRONICS INC SUB NOTE CONV 144A BND CONV 08160haa9 1599 2000000 PRN Sole 0 0 0
BRADLEES STORES INC NTS BND CONV 104500aa1 206 206000 PRN Sole 0 0 0
casella/KTI INC EXCHANGE NTS BND CONV 482689aa4 2812 2812000 PRN Sole 0 0 0
CINCINNATI FINL CORP SR DEB CONV BND CONV 172062ab7 4394 2096000 PRN Sole 0 0 0
CIRRUS LOGIC INC CONV SUB NOTE BND CONV 172755ac4 5358 6505000 PRN Sole 0 0 0
CIRRUS LOGIC INC SUB NT CONV 144A BND CONV 172755aa8 1565 1900000 PRN Sole 0 0 0
CNET INC SUB NOTE CONV BND CONV 125945ac9 4913 3000000 PRN Sole 0 0 0
CNET INC SUB NT CONV 144A BND CONV 125945aa313919 8500000 PRN Sole 0 0 0
COEUR D ALENE MINES CORP IDAHO CONV SUB DEBS BND CONV 192108af5 3374 6135000 PRN Sole 0 0 0
COEUR D ALENE MINES CORP IDAHO SUB DEB CONV BND CONV 192108ag3 550 1000000 PRN Sole 0 0 0
CONEXANT SYSTEMS INC CONV SUB NOTE 144A BND CONV 207142aa8 2956 1000000 PRN Sole 0 0 0
CORE COMM LTD 6% BND CONV 21869NAC9 3160 2000000 PRN Sole 0 0 0
DANKA BUSINESS SYSTEMS PLC SUB NOTES CONV BND CONV 236277ab5 2144 2615000 PRN Sole 0 0 0
DOUBLECLICK INC CONV SUB NOTES 144A BND CONV 258609aa418393 5900000 PRN Sole 0 0 0
DOUBLECLICK INC SRB NOTE CONV BND CONV 258609ac033420 10720000 PRN Sole 0 0 0
ECHOSTAR COMMUNICATIONS CORP CONV SUB NOTES 1BND CONV 278762ab511378 9250000 PRN Sole 0 0 0
EMC CORP MASS CONV SUB NOTE 144A BND CONV 268648ac6 4822 500000 PRN Sole 0 0 0
EMC CORP SUB NT CONV BND CONV 26865yaa294026 9749000 PRN Sole 0 0 0
EMCOR GROUP INC CONV SUB NOTES BND CONV 29084qac4 2291 2600000 PRN Sole 0 0 0
ETOYS INC SUB NT CONV 144A BND CONV 297862aa2 3979 6500000 PRN Sole 0 0 0
EXODUS COMMUNICATIONS INC CONV 144A BND CONV 302088ag4 9141 6600000 PRN Sole 0 0 0
EXODUS COMMUNICATIONS INC SUB NOTE CONV 144A BND CONV 302088ac362010 7950000 PRN Sole 0 0 0
GENZYME CORP SUB NOTE CONV BND CONV 372917af1 1913 1500000 PRN Sole 0 0 0
GILAT SATELLITE NETWORKS LTD SUB NOTE CONV BND CONV 375255ab211276 3960000 PRN Sole 0 0 0
GLOBAL TELESYSTEMS GROUP INC CONV 5.75 BND CONV 37936uae415892 11750000 PRN Sole 0 0 0
HEXCEL CORP NEW CONV SUB NOTES BND CONV 428291aa6 1206 1690000 PRN Sole 0 0 0
HMT TECHNOLOGY CORP SUB NT CV BND CONV 403917ad9 600 1500000 PRN Sole 0 0 0
HOMEBASE INC CONV SUB NOTES 144A BND CONV 43738eaa6 1220 2000000 PRN Sole 0 0 0
HOMEBASE INC CONV SUB NTS BND CONV 43738eab4 1906 3125000 PRN Sole 0 0 0
HUMAN GENOME SCIENCES INC CONV SUB NTS 144A BND CONV 444903aa6 9300 3000000 PRN Sole 0 0 0
HUMAN GENOME SCIENCES INC SUB NOTE CONV BND CONV 444903ab4 3100 1000000 PRN Sole 0 0 0
HUMAN GENOME SCIENCES INC SUB NTE CONV 144A BND CONV 444903ac2 3615 3000000 PRN Sole 0 0 0
HUTCHINSON TECHNOLOGY INC CONV SUB NOTES BND CONV 448407ac0 2256 2375000 PRN Sole 0 0 0
HUTCHINSON TECHNOLOGY INC CONV SUB NOTES 144ABND CONV 448407aa4 950 1000000 PRN Sole 0 0 0
INHALE THERAPEUTIC SYSTEMS INC SUB DEB CONV-SBND CONV 457191aa2 5760 4000000 PRN Sole 0 0 0
INTERMAGNETICS GENERAL CORP CV SUB DEVS 144 ABND CONV 458771ab8 600 750000 PRN Sole 0 0 0
INTERNET CAPITAL GROUP CONV BND CONV 46059caa416439 11145000 PRN Sole 0 0 0
ITC DELTACOM INC CONV SUB NOTE 144A BND CONV 45031taj3 6195 5250000 PRN Sole 0 0 0
ITC DELTACOM IND CONV SUB NOTE BND CONV 45031tak0 295 250000 PRN Sole 0 0 0
KELLSTROM INDS INC CONV SUB NOTES BND CONV 488035ae6 439 670000 PRN Sole 0 0 0
LAM RESEARCH CORP CONV NOTE BND CONV 512807ac2 8430 6000000 PRN Sole 0 0 0
LEVEL 3 COMMUNICATIONS INC SUB DEB CONV BND CONV 52729nag527117 19300000 PRN Sole 0 0 0
LIBERTY MEDIA CORP SENIOR EXCH-CONV DEBS 144ABND CONV 530715af8 6263 5000000 PRN Sole 0 0 0
LOEWS CORP SUB NOTE EXCH INTO SHS DIAMOND OFFBND CONV 540424al2 2419 2950000 PRN Sole 0 0 0
MAY & SPEH INC SUB NTS CONV BND CONV 577777aa3 7809 5950000 PRN Sole 0 0 0
MICRON TECHNOLOGIES SUB DEB CONV BND CONV 595112ab926702 20943000 PRN Sole 0 0 0
MINDSPRING ENTERPRISES INC SUB NTS CONV BND CONV 602683aa2 1915 2000000 PRN Sole 0 0 0
MRV COMMUNICATION INC CONV SUB NTS BND CONV 553477ab6 2618 1100000 PRN Sole 0 0 0
NETWORK ASSOCIATES INC CONV SUB DEBS BND CONV 640938ab2 2919 7998000 PRN Sole 0 0 0
NEXSTAR PHARMACEUTICALS INC SUB DEB CONV BND CONV 65333bac011588 8897000 PRN Sole 0 0 0
NEXTEL COMMUNICATIONS INC SR NTS 144A BND CONV 65332var448571 21350000 PRN Sole 0 0 0
NOVA CARE INC CONV S/D CALLABLE BND CONV 669930aa7 4290 4290000 PRN Sole 0 0 0
NTL INC CONV SUB NOTES 144A BND CONV 629407ak315900 6000000 PRN Sole 0 0 0
NTL INC CONV SUB NTS BND CONV 629407al113118 4950000 PRN Sole 0 0 0
NTL INC SUB NT CONV 144A BND CONV 629407an713500 12500000 PRN Sole 0 0 0
ORBITAL SCIENCES CORP CONV SUB NOTES BND CONV 685564ac0 821 1000000 PRN Sole 0 0 0
PETSMART INC CONV SUB NOTES BND CONV 716768ab210184 12385000 PRN Sole 0 0 0
PETSMART INC SUB NOTE CONV 144A BND CONV 716768aa4 4111 5000000 PRN Sole 0 0 0
PLASMA & MATLS TECHNOLOGIES INC SUB NOTE CONVBND CONV 72753maa7 159 207000 PRN Sole 0 0 0
PREMIERE TECHNOLOGIES INC SUB NOTE CONV BND CONV 74058fac6 4901 8523000 PRN Sole 0 0 0
READ RITE CORP CONV SUB NOTES BND CONV 755246aa3 3808 10154500 PRN Sole 0 0 0
RES-CARE INC CONV SUB NOTES BND CONV 760943ac4 815 1000000 PRN Sole 0 0 0
SAFEGUARD SCIENTIFIC INC CONV SUB NOTES 144A BND CONV 786449ad0 7858 3500000 PRN Sole 0 0 0
SIGNATURE RESORTS INC SUB NT CONV BND CONV 82668baa4 1897 3200000 PRN Sole 0 0 0
SIMULA INC SR SUB NTS CONV BND CONV 829206ab7 1115 1660000 PRN Sole 0 0 0
SIRIUS/CD RADIO INC CONV SUB NOTES BND CONV 125127aj913448 7934000 PRN Sole 0 0 0
SPORTSLINE USA INC CONV SUB NOTES BND CONV 848934ac913360 13163000 PRN Sole 0 0 0
STANDARD MOTOR PRODUCTS INC SUB DEB CONV BND CONV 853666ab1 1050 1250000 PRN Sole 0 0 0
SUNGLASS HUT INTL INC SUB NT CONV BND CONV 86736fac0 810 1000000 PRN Sole 0 0 0
TELEFONOS DE MEXICO S A SR DEB CONV BND CONV 879403ad529595 22700000 PRN Sole 0 0 0
TRANS LUX CORP CONV SUB NOTES BND CONV 893247ad8 194 225000 PRN Sole 0 0 0
TRANS WORLD AIRLINES INC SR SECD NOTE BND CONV 893349bg4 3498 4400000 PRN Sole 0 0 0
TRIARC COS INC DEB CONV 144A 0% CPN BND CONV 895927aa9 563 2500000 PRN Sole 0 0 0
USINTERNETWORKING INC CONV SUB NTS 144A W/RR BND CONV 917311ae218996 6500000 PRN Sole 0 0 0
VANTIVE CORP SUB NOTE CONV BND CONV 922091ac7 1720 2000000 PRN Sole 0 0 0
VERITAS SOFTWARE CORP CONV SUB NTS BND CONV 923436ab5120701 12022000 PRN Sole 0 0 0
VERTICALNET INC SUB DEB CONV 144A BND CONV 92532laa525830 6150000 PRN Sole 0 0 0
WINSTAR COMMUNICATIONS INC SR SUB DEFD INT NTBND CONV 975515av9 179 125000 PRN Sole 0 0 0
WORLD ACCESS INC CONV SUB NOTES 144A BND CONV 98141aaa9 1717 2120000 PRN Sole 0 0 0
WORLD ACCESS INC SUB CONV NOTE BND CONV 98141aac5 7610 9395000 PRN Sole 0 0 0
ABBOTT LABS JAN 035 CALL CALL 002824100 638 3000 SHR CALL Sole 0 0 0
AMGEN INC JAN 035 CALL CALL 031162100 2563 1000 SHR CALL Sole 0 0 0
AT&T CORP JAN 050 CALL CALL 001957109 285 1200 SHR CALL Sole 0 0 0
CENDANT CORP JAN 22.5 CALL CALL 151313103 438 1000 SHR CALL Sole 0 0 0
EMC CORP JAN11.25 CALL CALL 268648102 9800 1000 SHR CALL Sole 0 0 0
HOME DEPOT JAN53.37 CALL ADJ 3 FOR 2 CALL 437076102 2599 1100 SHR CALL Sole 0 0 0
MICROSOFT CP APR 120 CALL CALL 594918104 1383 1400 SHR CALL Sole 0 0 0
PROCT&GAMBLE JAN 110 CALL CALL 742718109 345 1150 SHR CALL Sole 0 0 0
SEAGATE TECH FEB 055 CALL CALL 811804103 244 1300 SHR CALL Sole 0 0 0
WAL-MART STR JAN 055 CALL CALL 931142103 1425 1000 SHR CALL Sole 0 0 0
WAL-MART STR JAN 62.5CALL CALL 931142103 877 1210 SHR CALL Sole 0 0 0
ADVANCED MAGNETICS INC COM 00753p103 106 25000 SHR Sole 25000 0 0
ADVANTA CORP-CL B NON-VTG COM 007942204 2998 213150 SHR Sole 0 0 21315
ALBERTO CULVER CO-CL A COM 013068200 1939 89160 SHR Sole 89160 0 0
ALBERTSONS INC COM 013104104 323 10000 SHR Sole 10000 0 0
AMC ENTERTAINMENT INC COM 001669100 190 22000 SHR Sole 22000 0 0
AMERITRADE HOLDING CORP-CL A COM 03072h109 692 31909 SHR Sole 31909 0 0
ARDEN REALTY INC COM 039793104 2572 128200 SHR Sole 128200 0 0
ASCENT ENTERTAINMENT GROUP INC COM 043628106 330 26000 SHR Sole 26000 0 0
ASSOCIATED GROUP INC-CL A COM 045651106 2753 30175 SHR Sole 30175 0 0
ASSOCIATED GROUP INC-CL B COM 04565120520491 222725 SHR Sole 222725 0 0
AT&T CORP COM 001957109 254 5000 SHR Sole 5000 0 0
BCE INC COM 05534b109 4690 52000 SHR Sole 52000 0 0
BETHLEHEM STEEL CORP COM 087509105 168 20000 SHR Sole 20000 0 0
BOEING CO COM 097023105 1746 42000 SHR Sole 42000 0 0
BROWN FORMAN CORP-CL A COM 115637100 518 9600 SHR Sole 9600 0 0
CAMBRIDGE NEUROSCIENCE COM 132426107 161 179200 SHR Sole 179200 0 0
CATERPILLAR INC COM 149123101 235 5000 SHR Sole 5000 0 0
CENTRAL EUROPEAN MEDIA ENTERPRISES LTD-CL COM g20045202 237 33850 SHR Sole 33850 0 0
CITADEL HOLDING CORP COM 172862104 1541 448216 SHR Sole 448216 0 0
CKE RESTAURANTS INC COM 12561e105 159 27000 SHR Sole 27000 0 0
COASTAL CORP INCOME PRIDES CONV COM 190441865 233 10000 SHR Sole 10000 0 0
COCA COLA CO COM 191216100 816 14000 SHR Sole 14000 0 0
COMCAST CORP-CL A COM 200300101 1757 36700 SHR Sole 36700 0 0
COMPUTER CONCEPTS CORP NEW COM 204897300 553 327500 SHR Sole 327500 0 0
CONOCO INC-CL B COM 208251405 852 34250 SHR Sole 34250 0 0
CONSTELLATION ENERGY GROUP INC COM 210371100 290 10000 SHR Sole 10000 0 0
COOPER COMPANIES INC NEW (THE) COM 216648402 331 11000 SHR Sole 11000 0 0
CORTECH INC-NEW COM 22051j308 169 28800 SHR Sole 28800 0 0
CRIIMI MAE INC COM 226603108 32 22332 SHR Sole 22332 0 0
DAIMLERCHRYSLER A.G. COM COM d1668r123 235 3000 SHR Sole 3000 0 0
DOLE FOOD CO INC COM 256605106 260 16000 SHR Sole 16000 0 0
DOUBLECLICK INC COM 258609304 380 1500 SHR Sole 1500 0 0
EGGHEAD.COM INC NEW COM 282329101 288 17803 SHR Sole 17803 0 0
EXECUTONE INFORMATION SYSTEMS INC COM 290143106 184 33900 SHR Sole 33900 0 0
FAIRCHILD CORP-CL A COM 303698203 580 64000 SHR Sole 64000 0 0
FAMILY DOLLAR STORES INC COM 307000109 326 20000 SHR Sole 20000 0 0
FECHTOR DETWILER MITCHELL & CO INC COM 313066102 356 259200 SHR Sole 259200 0 0
FEDERATED DEPARTMENT STORES INC-DEL COM 31410h101 253 5000 SHR Sole 5000 0 0
FLETCHER CHALLENGE LTD SPONSORED ADR REPST COM 339324402 169 45000 SHR Sole 45000 0 0
FLORIDA PROGRESS CORP COM 341109106 212 5000 SHR Sole 5000 0 0
FLOWERS INDUSTRIES INC COM 343496105 693 43479 SHR Sole 43479 0 0
GAP INC COM 364760108 230 5000 SHR Sole 5000 0 0
GENERAL GROWTH PROPERTIES INC COM 370021107 1127 40250 SHR Sole 40250 0 0
GENERAL MOTORS CORP COM 370442105 1090 15000 SHR Sole 15000 0 0
GLOBAL CROSSING LTD COM g3921a100 2300 46005 SHR Sole 46005 0 0
GLOBAL TELESYSTEMS GROUP INC PFRD COM 37936u609 5778 102500 SHR Sole 102500 0 0
GLOBO CABA S A SPONSORED ADR REPSTG PFD COM 37957x102 464 25800 SHR Sole 25800 0 0
GOODYEAR TIRE & RUBBER CO COM 382550101 282 10000 SHR Sole 10000 0 0
GRUPO RADIO CENTRO SA DE CV SPONSORED ADR COM 40049c102 310 37000 SHR Sole 37000 0 0
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HEMISPHERX BIOPHARMA INC COM 42366C103 199 20000 SHR Sole 20000 0 0
HINES HORTICULTURE INC COM 433245107 1089 129000 SHR Sole 129000 0 0
HOMESTEAD VILLAGE PROPERTIES INC COM 437851108 677 318450 SHR Sole 318450 0 0
HONEYWELL INTL INC COM 438516106 307 5325 SHR Sole 5325 0 0
IDT CORP COM 448947101 829 43900 SHR Sole 43900 0 0
INSIGNIA SYSTEMS INC COM 45765Y105 134 37500 SHR Sole 37500 0 0
INTIMATE BRANDS INC-CL A COM 461156101 431 10000 SHR Sole 10000 0 0
K MART CORP COM 482584109 1057 105000 SHR Sole 105000 0 0
KOREA FUND INC COM 500634100 3069 180500 SHR Sole 180500 0 0
LABORATORY CORP OF AMERICA HOLDINGS-8.50% COM 50540r201 345 5000 SHR Sole 5000 0 0
LG&E ENERGY CORP COM 501917108 436 25000 SHR Sole 25000 0 0
LOCKHEED MARTIN CORP COM 539830109 306 14000 SHR Sole 14000 0 0
LOEWS CORP COM 540424108 1214 20000 SHR Sole 20000 0 0
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MEDIA ONE COM 912889201 3898 50750 SHR Sole 50750 0 0
MEDICAL MANAGER CORP NEW COM 58461u103 1719 20400 SHR Sole 20400 0 0
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MICROSEMI CORP COM 595137100 249 28100 SHR Sole 28100 0 0
MINNESOTA MINING & MFG CO COM 604059105 8319 85000 SHR Sole 85000 0 0
MOLEX INC-CL A COM 608554200 1914 42300 SHR Sole 42300 0 0
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PG&E CORP COM 69331c108 287 14000 SHR Sole 14000 0 0
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POWER FINANCIAL CORP COM 73927c100 1010 60874 SHR Sole 60874 0 0
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READING ENTERTAINMENT INC COM 755332509 115 20050 SHR Sole 20050 0 0
RISCORP INC-CL A COM 767597107 230 94500 SHR Sole 94500 0 0
ROSS SYSTEMS INC COM 778303107 66 20000 SHR Sole 20000 0 0
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U S WEST INC NEW COM 91273h101 1580 21950 SHR Sole 21950 0 0
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USG CORP NEW COM 903293405 236 5000 SHR Sole 5000 0 0
VENTAS INC COM 92276f100 475 113400 SHR Sole 113400 0 0
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WAL-MART STORES INC COM 931142103 1383 20000 SHR Sole 20000 0 0
WAXMAN INDS INC COM 924412410 310 774100 SHR Sole 774100 0 0
WINSTAR COMMUNICATIONS INC COM 975515107 531 7095 SHR Sole 7095 0 0
ADELPHIA COMMUNICATIONS CORP CONV PFD-5.5% PFD CONV 00684840221262 112200 SHR Sole 0 0 0
AES TR III 6.75% TR PFD CONV SECS PFD CONV 00808n202 1236 20100 SHR Sole 20100 0 0
AMDOCS AUTOMATIC COM EXCHANGE SEC TR TR A PFD CONV 02342r202 4337 135000 SHR Sole 135000 0 0
APARTMENT INVT & MGMT CO PFD CL K 8% CONV PFD CONV 03748r705 1793 71000 SHR Sole 71000 0 0
AVADO FINANCING I TERM SECS SER A CONV PFD PFD CONV 05336q205 3940 132425 SHR Sole 132425 0 0
BETHLEHEM STEEL CORP $3.50 CUM CONV PFD 14 PFD CONV 087509501 758 22292 SHR Sole 22292 0 0
CALPINE CAPITAL TRUST TERM INCOME FEFERRAB PFD CONV 131346207 960 15000 SHR Sole 15000 0 0
CANADIAN NATIONAL RAILWAY CO CONV PFD SECS PFD CONV 136375409 1382 32900 SHR Sole 32900 0 0
CAREMARK RX CAP TR I 7% SHARED PFD REDEEMA PFD CONV 14170k209 428 10000 SHR Sole 10000 0 0
CENTRAL PARKING FIN TR 5.25% PFD SECS CONV PFD CONV 154787303 232 16850 SHR Sole 16850 0 0
CENTRAL PARKING FINANCE TRUST PFD CONV 154787303 206 15000 SHR Sole 15000 0 0
CEPHALON INC 7.25% PFD CONV EXCHANGEABLE PFD CONV 15670830713802 137500 SHR Sole 137500 0 0
COMCAST CORP 0 PREM OPTION SECS PFD CONV 200300507100446 1006350 SHR Sole 1006350 0 0
COMCAST CORP ZONES 2% PFD CONV 20030060637120 371900 SHR Sole 371900 0 0
CRAIG CORP-CL A PREF PFD CONV 224174201 2954 472600 SHR Sole 472600 0 0
CROWN CASTLE DECS TR V PFD CONV 24366f203 2947 102500 SHR Sole 102500 0 0
ENTERCOM COMMUNICATIONS CAP TR TIDES 6.25% PFD CONV 29363p104 2803 34500 SHR Sole 34500 0 0
EQUITY OFFICE PROP TR PFRD PFD CONV 294741301 1185 30000 SHR Sole 30000 0 0
EQUITY OFFICE PROPERTIES TR 5.25% CONV CUM PFD CONV 294741509 3298 83500 SHR Sole 83500 0 0
ESTEE LAUDER AUTOMATIC COM EXCHANGE SEC TR PFD CONV 518437207 1749 20200 SHR Sole 20200 0 0
FEDERAL-MOGUL FINANCING TRUST 7% CUM CONV PFD CONV 313552200 4027 118050 SHR Sole 118050 0 0
FREEPORT MCMORAN COPPER & GOLD INC-CL A PFD CONV 35671d105 2547 137200 SHR Sole 137200 0 0
FREEPORT MCMORAN COPPER & GOLD INC-DEP SHS PFD CONV 35671d501 1958 102700 SHR Sole 102700 0 0
FRONTIER FINANCING TRUST-6.25% CUM CONV TR PFD CONV 35907u301 1323 70000 SHR Sole 70000 0 0
GENERAL GROWTH PPTYS INCPFD DEPOSITARY SH PFD CONV 370021206 984 49200 SHR Sole 49200 0 0
GEORGIA PAC CORP PREMIUM EQUITY PART SEC U PFD CONV 373298801 5470 107000 SHR Sole 107000 0 0
GLOBAL CROSSING LTD CUM PFD 7.0% DUE 12/31 PFD CONV 37932j30123421 84400 SHR Sole 84400 0 0
GLOBAL CROSSING LTD CUM PFD SHS 6.375% PER PFD CONV 37932j202 9478 75000 SHR Sole 75000 0 0
GLOBAL TELESYSTEMS GROUP INC DEPOSITARY SH PFD CONV 37936u401 7723 137000 SHR Sole 137000 0 0
GLOBALSTAR TELECOMMUNICATIONS LTD 9.0% CON PFD CONV 379364870 2936 32000 SHR Sole 32000 0 0
HERBALIFE DEC TRUST III (EXCH INTO CL B) PFD CONV 243665205 2784 206200 SHR Sole 206200 0 0
HERCULES TR II UNIT $1000 PFD SEC & 1 WT PFD CONV 427098306 5521 7000 SHR Sole 7000 0 0
HOST MARRIOTT FINANCIAL TRUST 6.75% CONV Q PFD CONV 441079407 1465 46200 SHR Sole 46200 0 0
ICG FUNDING LLC-6.75% EXCH PFD PFD CONV 44924Q202 6081 137037 SHR Sole 137037 0 0
ICG FUNDING LLC-6.75% EXCH PFD 144 PFD CONV 44924Q400 5924 133500 SHR Sole 133500 0 0
INTERMEDIA COMMUNICATIONS PFRD D PFD CONV 45880170118308 360300 SHR Sole 360300 0 0
INTERMEDIA COMMUNICATIONS PFRD E PFD CONV 45880183416834 493300 SHR Sole 493300 0 0
INTERMEDIA COMMUNICATIONS PFRD E 144 PFD CONV 458801834 6716 199000 SHR Sole 199000 0 0
INTERMEDIA COMMUNICATIONS PRFD F PFD CONV 458801792 9736 362500 SHR Sole 362500 0 0
INTERMEDIA COMMUNICATIONS SER F PFD CONV 458801826 7390 277550 SHR Sole 277550 0 0
K MART FINANCING I-7.75% TRUST PFD CONV 49877820812943 295850 SHR Sole 295850 0 0
KAUFMAN & BROAD HOME CORP 8.25% INCOME PRI PFD CONV 486168503 104 13200 SHR Sole 13200 0 0
KEMPER HIGH INCOME TRUST-SBI PFD CONV 48841g106 975 126833 SHR Sole 126833 0 0
KERR MCGEE CORP DECS % EXCHANGEABLE INTO C PFD CONV 492386305 3826 115950 SHR Sole 115950 0 0
KIMCO REALTY CORP 7.50% CV PFD DEPOSITARY PFD CONV 49446r877 411 19300 SHR Sole 19300 0 0
LINCOLN NATIONAL CORP IND 7.75% INCOME PRI PFD CONV 534187604 1155 52500 SHR Sole 52500 0 0
LORAL SPACE & COMMUNICATION LTD-6% CONV PF PFD CONV g5646214912453 199250 SHR Sole 199250 0 0
LTV CORP NEW PFD CONV SER A 144 PFD CONV 501921209 4165 68000 SHR Sole 68000 0 0
MAXTOR DECS TRUST IV DECS PFD CONV 243664208 1742 223000 SHR Sole 223000 0 0
MCLEODUSA INC PFD CONV SER A PFD CONV 58226620146576 87880 SHR Sole 87880 0 0
MEDIAONE GROUP INC PREM INCOME EXCHANGEABL PFD CONV 58440j500 4243 88400 SHR Sole 88400 0 0
MEDIAONE GROUP PREM INCOME EXCH SECS 6.25% PFD CONV 58440j401 2522 23350 SHR Sole 23350 0 0
MEDPARTNERS INC NEW-6.50% THRESHOLD APPREC PFD CONV 58503x206 233 29300 SHR Sole 29300 0 0
MERRILL LYNCH & CO INC-6.25% PFD CONV 590188751 1249 69850 SHR Sole 69850 0 0
metromedia/DECS TR VI DECS PFD CONV 24366q20917339 379000 SHR Sole 379000 0 0
NATIONAL AUSTRALIA BANK LTD EXCHANGEABLE C PFD CONV 632525309 1361 49250 SHR Sole 49250 0 0
NEWELL FINL TR I CONV QUARTERLY INCOME PFD PFD CONV 651195307 3662 93292 SHR Sole 93292 0 0
NEXTEL COMMUNICATIONS INC PFDCONV 0% CPN 1 PFD CONV 65332v80635666 35400 SHR Sole 35400 0 0
NEXTEL STRYPES TR-STRUCTURED PFD CONV 65332Y107 4167 46300 SHR Sole 46300 0 0
NORTEL INVERSORA SA-10% MAND PFD CONV 656567302 1528 25000 SHR Sole 25000 0 0
OMNIPOINT CORP DEPOSITARY SH REPSTG 1/20 C PFD CONV 68212d60746896 237750 SHR Sole 237750 0 0
OMNIPOINT CORP-DEP SHS REPSTG PFD CONV 68212D300 7890 40000 SHR Sole 40000 0 0
OWENS & MINOR TRUST I GTD TERM CONV SECS S PFD CONV 690905302 986 32850 SHR Sole 32850 0 0
OWENS CORNING CAPITAL LLC PFD CONV 690733209 1575 45000 SHR Sole 45000 0 0
PHILADELPHIA CONSOLIDATED HOLDING CORP-INC PFD CONV 717528301 1225 175000 SHR Sole 175000 0 0
POGO TR I GTD QUARTERLY INCOME PFD CONV PFD CONV 73044p208 616 12500 SHR Sole 12500 0 0
PSINET INC CUM CONV PFD 6.75% SER C PFD CONV 74437c30919842 339900 SHR Sole 339900 0 0
QWEST TRENDS TRUST TR ENHANCED DISTR SECS- PFD CONV 74912l105 3519 50000 SHR Sole 50000 0 0
RECKSON ASSOCIATES REALTY CONV PFD SE PFD CONV 75621k205 592 29800 SHR Sole 29800 0 0
RELIANT ENERGY INC ZERO PREM EXCH SUB NOTE PFD CONV 75952j20792464 1282000 SHR Sole 1282000 0 0
ROUSE CO-CONV PFD SER B PFD CONV 779273309 1036 31750 SHR Sole 31750 0 0
SEAGRAM LTD 7.50% PFD ADJ CONV RATE EQUITY PFD CONV 811850205 4010 89100 SHR Sole 89100 0 0
SEALED AIR CORP NEW-$2 CONV PFD SER A PFD CONV 81211k209 475 9400 SHR Sole 9400 0 0
SIRIUS SATELLITE RADIO INC PFD CONV SER C PFD CONV 82966u202 5360 20000 SHR Sole 20000 0 0
SOVEREIGN BANCORP INC TR PFD INCOME EQUITY PFD CONV 84590530611103 224300 SHR Sole 224300 0 0
SUIZA CAPITAL TRUST II 5.5% TRUST CONV SER PFD CONV 86507g408 2531 75000 SHR Sole 75000 0 0
SUPERIOR TR I PFD CONV 8.50% BOOK ENTRY PFD CONV 86836p202 4952 147812 SHR Sole 147812 0 0
TESORO PETE CORP PREM INCOME EQUITY SECS-P PFD CONV 881609408 784 65300 SHR Sole 65300 0 0
TIMET CAPITAL TRUST I-6.625% CONV PFD SECS PFD CONV 887381408 256 22500 SHR Sole 22500 0 0
TOWER AUTOMOTIVE CAP TR TR PFD CONV SECS % PFD CONV 891706301 2510 69250 SHR Sole 69250 0 0
TRANS WORLD AIRLINES INC $9.25 CONV EXCH P PFD CONV 893349738 879 47500 SHR Sole 47500 0 0
UNION PACIFIC CAPITAL TRUST TERM INCOME DE PFD CONV 907824403 9131 222100 SHR Sole 222100 0 0
UNITEDGLOBALCOM DEPOSITARY SH REPSTG PFD CONV 913247201 8503 95000 SHR Sole 95000 0 0
UNITEDGLOBALCOM DEPOSITARY SHS REP 1/20 #2 PFD CONV 913247805 947 15000 SHR Sole 15000 0 0
VANSTAR FINANCING TRUST-6.75% PFD PFD CONV 92208q307 2156 126850 SHR Sole 126850 0 0
VERIO INC PFD CONV SER A 6.75% CONV 144A PFD CONV 923433304 6686 119925 SHR Sole 119925 0 0
WINSTAR COMMUNICATIONS INC CONV SR PFD 7% PFD CONV 975515875 6532 81650 SHR Sole 81650 0 0
WINSTAR COMMUNICATIONS INC PFRD REG PFD CONV 97551560215138 191626 SHR Sole 191626 0 0
WINSTAR COMMUNICATIONS INC SR PFD 7.25% CO PFD CONV 97551585926939 19940 SHR Sole 19940 0 0
THERMO FIBERGEN RTS RTS 88355U117 644 735450 SHR Sole 0 0 0
ASIA PULP & PAPER LTD SPONSORED WTS WARR 04516v209 23 24050 SHR Sole 0 0 0
AUDIOVOX CORP WTS WARR 050757129 3055 130000 SHR Sole 0 0 0
BIOVAIL CORP INTL NEW EXP 9/30/02 WTS WARR 09067k114 401 7000 SHR Sole 0 0 0
DENTAL/MEDICAL DIAGNOSTIC WARR 24873k208 354 125850 SHR Sole 0 0 0
DENTAL/MEDICAL DIAGNOSTIC WTS WARR 24873k209 193 192970 SHR Sole 0 0 0
DIGITAL LAVA INC WTS EXP 02/17/2004 WARR 253928113 148 67800 SHR Sole 0 0 0
FEDERATED DEPARTMENT STORES INC-DEL WTS WARR 31410h127 2989 122000 SHR Sole 0 0 0
GOLDEN STATE BANCORP INC WTS WARR 381197128 989 150000 SHR Sole 0 0 0
HEMISPHERX BIOPHARMA INC WTS WARR 42366C111 322 54800 SHR Sole 0 0 0
PE CORP EXP 9/11/03 wts WARR 69332s110 3248 64950 SHR Sole 0 0 0
SPIROS DEV CORP II INC/ DURA PHAR UTS WARR 848935201 224 28000 SHR Sole 0 0 0
SUPERGEN INC WTS WARR 868059114 3496 171600 SHR Sole 0 0 0
U S ENERGY SYSTEMS INC WTS WARR 902951110 48 59000 SHR Sole 0 0 0
VIEWCAST.COM INC WT EXP 02/04/2002 WARR 926713116 83 31000 SHR Sole 0 0 0
</TABLE>
