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 March 31, 2000.
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 15th day of May 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
QUINTILES TRANSNATIONAL CORP SUB NT CON BND CONV 748767ac4 7429 7476000 PRN Sole 0 0 0
AAMES FINANCIAL CORP SUB DEB CONV BND CONV 00253aae1 1986 6620000 PRN Sole 0 0 0
ACCLAIM ENTMT INC CONV SUB NTS BND CONV 004325aa4 3552 4425000 PRN Sole 0 0 0
ACTIVISION INC NEW CONV SUB NOTES BND CONV 004930ac7 1967 2260000 PRN Sole 0 0 0
ADVANCED ENERGY INDUSTRIES INC SUB NOTE CONV BND CONV 007973aa8 613 500000 PRN Sole 0 0 0
ADVANCED MICRO DEVICES SUB NOTE CONV BND CONV 007903ac134684 21250000 PRN Sole 0 0 0
AFFYMETRIX INC CONV 144A BND CONV 00826taa6 1310 1000000 PRN Sole 0 0 0
ALPHARMA INC CONV SR SUB NOTES 144A W/RR BND CONV 020813ac5 1240 1000000 PRN Sole 0 0 0
ALPHARMA INC CONV SUB NOTES BND CONV 020813ab7 6614 4861000 PRN Sole 0 0 0
ALPHARMA INC CONV SUB NOTES 144A 5.75% BND CONV 020813aa9 1020 750000 PRN Sole 0 0 0
ALPHARMA INC SR SUB NOTE CONV BND CONV 020813ad3 3100 2500000 PRN Sole 0 0 0
AMAZON COM INC CONV SUB NTS BND CONV 023135af330269 30500000 PRN Sole 0 0 0
AMAZON.COM INC SR SUB CONV NOTES 144A BND CONV 023135ad8 5955 6000000 PRN Sole 0 0 0
AMERICA ONLINE INC DEL CONV SUB NOTE BND CONV 02364jac816109 29250000 PRN Sole 0 0 0
AMERICAN TOWER CORP CONV NT BND CONV 029912ab817654 8250000 PRN Sole 0 0 0
AMERICAN TOWER CORP CONV NT (DISC NTS) BND CONV 029912ad419925 13355000 PRN Sole 0 0 0
AMERICAN TOWER CORP CONV NT (STD NTS)-144A R/BND CONV 029912aa0 2140 1000000 PRN Sole 0 0 0
AMERITRADE HLDG CORP SUB NT CONV BND CONV 03072hab5 4196 5040000 PRN Sole 0 0 0
AMERITRADE HLDG CORP SUB NT CONV 144A BND CONV 03072haa7 2539 3050000 PRN Sole 0 0 0
AMKOR TECHNOLOGIES INC SUB NTS CONV BND CONV 031652aa812890 3250000 PRN Sole 0 0 0
AMKOR TECHNOLOGY INC CONV SUB NT 144A BND CONV 031652af7 2486 2250000 PRN Sole 0 0 0
APP FINANCE VI MAURTITUS LTD LIQUID YLD OPTN BND CONV 00202naa3 1338 7040000 PRN Sole 0 0 0
ASM LITHOGRAPHY HOLDING REG S BND CONV n07059ac7 585 500000 PRN Sole 0 0 0
ASM LITHOGRAPHY HOLDINGS N V CONV SUB NOTES 1BND CONV 00207eab6 1169 1000000 PRN Sole 0 0 0
ASPEN TECHNOLOGY INC SUB DEB CONV BND CONV 045327ab9 3491 3650000 PRN Sole 0 0 0
ASSISTED LIVINGS CONCEPTS INC CONV SUB DEBS BND CONV 04543lad1 1772 3056000 PRN Sole 0 0 0
AT HOME CORP CONV SUB DEB 144A BND CONV 045919aa5 5241 10006000 PRN Sole 0 0 0
AT HOME CORP CONV SUB NOTES BND CONV 045919ac124915 47570000 PRN Sole 0 0 0
AT HOME CORP SUB NOTE CONV 4.75% 144A BND CONV 045919ad9 1510 1842000 PRN Sole 0 0 0
ATRIX LABS INC SUV NOTES CONV BND CONV 04962lac5 1107 1500000 PRN Sole 0 0 0
AVIRON SUB NOTE CONV 144A BND CONV 053762aa8 505 500000 PRN Sole 0 0 0
AVIRON SUB NTS CONV BND CONV 053762ac4 6787 6720000 PRN Sole 0 0 0
BAAN CO NV SUB NT CONV REGISTER BND CONV 056072ab7 1706 1875000 PRN Sole 0 0 0
BANKATLANTIC BANCORP INC SUB DEB CV BND CONV 065908ab1 699 832000 PRN Sole 0 0 0
BEA SYSTEMS INC SUB NOTE CONV BND CONV 073325ac610537 8500000 PRN Sole 0 0 0
BELL ATLANTIC FINANCIAL REG-S BND CONV u0778kad411963 8250000 PRN Sole 0 0 0
BELL ATLANTIC FINANCIAL SVCS INC 144A EXCHANGBND CONV 07785gab6 758 750000 PRN Sole 0 0 0
BELL ATLANTIC FINL SVCS 144A SR NT EXCHANGEABBND CONV 07785gac435438 24440000 PRN Sole 0 0 0
BENCHMARK ELECTRONICS INC SUB NOTE CONV 144A BND CONV 08160haa9 3552 3325000 PRN Sole 0 0 0
CINCINNATI FINL CORP SR DEB CONV BND CONV 172062ab7 5302 2096000 PRN Sole 0 0 0
CIRRUS LOGIC INC CONV SUB NOTE BND CONV 172755ac4 6980 7505000 PRN Sole 0 0 0
CIRRUS LOGIC INC SUB NT CONV 144A BND CONV 172755aa8 1767 1900000 PRN Sole 0 0 0
CNET INC SUB NOTE CONV BND CONV 125945ac9 4406 3000000 PRN Sole 0 0 0
CNET INC SUB NT CONV 144A BND CONV 125945aa312484 8500000 PRN Sole 0 0 0
COEUR D ALENE MINES CORP IDAHO CONV SUB DEBS BND CONV 192108af5 3006 6135000 PRN Sole 0 0 0
COEUR D ALENE MINES CORP IDAHO SUB DEB CONV BND CONV 192108ag3 490 1000000 PRN Sole 0 0 0
CONEXANT SYSTEMS INC CONV SUB NOTE 144A BND CONV 207142aa8 3129 1000000 PRN Sole 0 0 0
CONEXANT SYSTEMS INC CONV SUB NT 144a 4.0% BND CONV 207142ad2 1358 1500000 PRN Sole 0 0 0
COR THERAPEUTICS INC SUB NOTE CONV 144A 5.0% BND CONV 217753ac610545 9500000 PRN Sole 0 0 0
CORE COMM LTD 6% BND CONV 21869NAC9 5345 3100000 PRN Sole 0 0 0
CRITICAL PATH INC 144A BND CONV 22674vaa8 1776 1750000 PRN Sole 0 0 0
CURAGEN CORP CONVERT SUB DEBS 144a DUE 02/02/BND CONV 23126raa9 5296 6070000 PRN Sole 0 0 0
DIGITAL ISLAND INC DEL CONV SUB NOTES BND CONV 25385naa912732 18188000 PRN Sole 0 0 0
DOUBLECLICK INC CONV SUB NOTES 144A BND CONV 258609aa413725 5900000 PRN Sole 0 0 0
DOUBLECLICK INC SRB NOTE CONV BND CONV 258609ac024937 10720000 PRN Sole 0 0 0
E TRADE GROUP INC CONV SUB NOTES 144a 6% BND CONV 269246aa229222 20600000 PRN Sole 0 0 0
EARTHWEB INC CONV SUB NOTES DUE 01/25/2005 7.BND CONV 27032caa6 587 750000 PRN Sole 0 0 0
ECHOSTAR COMMUNICATIONS CORP CONV SUB NOTES 1BND CONV 278762ab527984 15250000 PRN Sole 0 0 0
EFFICIENT NETWORKS INC SUB NOTE CONV 144A BND CONV 282056aa8 2043 2000000 PRN Sole 0 0 0
EMCOR GROUP INC CONV SUB NOTES BND CONV 29084qac4 2444 2600000 PRN Sole 0 0 0
ETOYS INC SUB NT CONV 144A BND CONV 297862aa2 6004 14825000 PRN Sole 0 0 0
EXODUS COMMUNICATIONS INC CONV 144A BND CONV 302088ag414768 7100000 PRN Sole 0 0 0
EXODUS COMMUNICATIONS INC NOTES BND CONV 302088aj8 4160 2000000 PRN Sole 0 0 0
GENERAL SEMICONDUCTOR INC SUB NOTE CONV 144A BND CONV 370787aa1 1412 1125000 PRN Sole 0 0 0
GENZYME CORP SUB NOTE CONV BND CONV 372917af1 2205 1500000 PRN Sole 0 0 0
GILAT SATELLITE NETWORKS LTD CONV SUB NOTES 1BND CONV 375255ac0 1769 2000000 PRN Sole 0 0 0
GILAT SATELLITE NETWORKS LTD SUB NOTE CONV BND CONV 375255ab211145 3960000 PRN Sole 0 0 0
GLOBAL TELESYSTEMS GROUP INC CONV 5.75 BND CONV 37936uae411698 13375000 PRN Sole 0 0 0
HAAGEN ALEXANDER PPTYS INC SUB DEB CONV SER BBND CONV 5395125 454 500000 PRN Sole 0 0 0
HMT TECHNOLOGY CORP SUB NT CV BND CONV 403917ad9 2310 5500000 PRN Sole 0 0 0
HOMEBASE INC CONV SUB NOTES 144A BND CONV 43738eaa6 1064 2000000 PRN Sole 0 0 0
HOMEBASE INC CONV SUB NTS BND CONV 43738eab4 2193 4125000 PRN Sole 0 0 0
HUMAN GENOME SCIENCES INC SUB NTE CONV 144A 5BND CONV 444903ae8 1346 1500000 PRN Sole 0 0 0
HUMAN GENOME SCIENCES SERIES CONV SUB NT 144aBND CONV 444903ag3 1991 3250000 PRN Sole 0 0 0
HUTCHINSON TECHNOLOGY INC CONV SUB NOTES BND CONV 448407ac0 1922 2375000 PRN Sole 0 0 0
HUTCHINSON TECHNOLOGY INC CONV SUB NOTES 144ABND CONV 448407aa4 809 1000000 PRN Sole 0 0 0
hyperion/ARBOR SOFTWARE CORP SUB NOTE CONV BND CONV 038918ac2 4108 5000000 PRN Sole 0 0 0
I2 TECHNOLOGIES INC SUB NOTE 144A BND CONV 465754ad1 1750 1000000 PRN Sole 0 0 0
IMAX CORP CONV DEB REG S BND CONV u45090aa2 4238 3750000 PRN Sole 0 0 0
IMCLONE SYSTEMS INC SUB NOTE CONV 144a 5.5% BND CONV 45245waa7 3049 3600000 PRN Sole 0 0 0
INCYTE PHARMACEUTICALS INC CONV SUB NOTE 144aBND CONV 45337caa0 7391 9000000 PRN Sole 0 0 0
INGRAM MICRO INC CONV SR DEB BND CONV 457153ab0 7000 20000000 PRN Sole 0 0 0
INHALE THERAPUETIC SYSTEMS INC CONV SUB NOTESBND CONV 457191ad611851 11050000 PRN Sole 0 0 0
INTERLIANT INC SUB NT CONV BND CONV 458742aa1 9554 14050000 PRN Sole 0 0 0
INTERMAGNETICS GENERAL CORP CV SUB DEVS 144 ABND CONV 458771ab8 3735 3090000 PRN Sole 0 0 0
INTERNET CAPITAL GROUP CONV BND CONV 46059caa417657 19895000 PRN Sole 0 0 0
ITC DELTACOM INC CONV SUB NOTE 144A BND CONV 45031taj3 4369 2950000 PRN Sole 0 0 0
ITC DELTACOM IND CONV SUB NOTE BND CONV 45031tak0 2962 2000000 PRN Sole 0 0 0
KELLSTROM INDS INC CONV SUB NOTES BND CONV 488035ae6 359 670000 PRN Sole 0 0 0
KULICKE & SOFFA INDS INC SUB NT CONV BND CONV 501242ac5 1923 1250000 PRN Sole 0 0 0
LAM RESEARCH CORP CONV NOTE BND CONV 512807ac223538 14700000 PRN Sole 0 0 0
LEVEL 3 COMMUNICATIONS INC SUB DEB CONV BND CONV 52729nag538926 22275000 PRN Sole 0 0 0
LIBERTY MEDIA CONV BND CONV 530715ag6 1556 1000000 PRN Sole 0 0 0
LIBERTY MEDIA CORP SENIOR EXCH-CONV DEBS 144ABND CONV 530715af823337 15000000 PRN Sole 0 0 0
LIBERTY MEDIA GROUP CONV DEBS 144a 3.75% BND CONV 530715ak711675 10000000 PRN Sole 0 0 0
LOEWS CORP SUB NOTE EXCH INTO SHS DIAMOND OFFBND CONV 540424al2 2591 2950000 PRN Sole 0 0 0
MAIL COM INC CNV SUB NT 144A 7% BND CONV 560311aa0 3045 3000000 PRN Sole 0 0 0
MAY & SPEH INC SUB NTS CONV BND CONV 577777aa3 8605 4950000 PRN Sole 0 0 0
METAMOR WORLDWIDE INC SUB NOTE CONV BND CONV 59133paa8 3805 4450000 PRN Sole 0 0 0
MILLENNIUM PHARMACEUTICALS INC CONV SUB NT 14BND CONV 599902aa114702 15712000 PRN Sole 0 0 0
MRV COMMUNICATION INC CONV SUB NTS BND CONV 553477ab6 3773 1100000 PRN Sole 0 0 0
NETWORK ASSOCIATES INC CONV SUB DEBS BND CONV 640938ab2 4055 10498000 PRN Sole 0 0 0
NEXSTAR PHARMACEUTICALS INC SUB DEB CONV BND CONV 65333bac010242 6897000 PRN Sole 0 0 0
NEXTEL COMMUNICATIONS INC CONV SENIOR NOTE BND CONV 65332vat0 3219 1000000 PRN Sole 0 0 0
NEXTEL COMMUNICATIONS INC SR NTS 144A BND CONV 65332var468719 21350000 PRN Sole 0 0 0
NTL INC CONV SUB NOTES 144A BND CONV 629407ak314866 6000000 PRN Sole 0 0 0
NTL INC CONV SUB NTS BND CONV 629407al112264 4950000 PRN Sole 0 0 0
NTL INC SUB NT CONV 144A BND CONV 629407an712872 12500000 PRN Sole 0 0 0
PETSMART INC CONV SUB NOTES BND CONV 716768ab2 7670 12472000 PRN Sole 0 0 0
PETSMART INC SUB NOTE CONV 144A BND CONV 716768aa4 3075 5000000 PRN Sole 0 0 0
PREMIERE TECHNOLOGIES INC SUB NOTE CONV BND CONV 74058fac6 3406 5098000 PRN Sole 0 0 0
PRIMUS TELECOMMUNICATIONS GROUP INC CONV SUB BND CONV 741929ak9 4660 4000000 PRN Sole 0 0 0
RATIONAL SOFTWARE CORP SUB NT CONV 144a 5.0% BND CONV 75409paa1 1235 1000000 PRN Sole 0 0 0
READ-RITE CORP CONV SUB NT BND CONV 755246ab1 7289 7077000 PRN Sole 0 0 0
REDBACK NETWORKS SUB NOTE CONV 144A BND CONV 757209aa9 7274 7500000 PRN Sole 0 0 0
RES-CARE INC CONV SUB NOTES BND CONV 760943ac4 1144 1750000 PRN Sole 0 0 0
SAFEGUARD SCIENTIFIC INC CONV SUB NOTES 144A BND CONV 786449ad010421 3500000 PRN Sole 0 0 0
SEPRACOR INC SUB DEB CONV BND CONV 817315aj3 2653 2750000 PRN Sole 0 0 0
SIMULA INC SR SUB NTS CONV BND CONV 829206ab7 948 1660000 PRN Sole 0 0 0
SIRIUS/CD RADIO INC CONV SUB NOTES BND CONV 125127aj929428 13624000 PRN Sole 0 0 0
SPORTSLINE USA INC CONV SUB NOTES BND CONV 848934ac910201 13163000 PRN Sole 0 0 0
STANDARD MOTOR PRODUCTS INC SUB DEB CONV BND CONV 853666ab1 956 1250000 PRN Sole 0 0 0
SUNGLASS HUT INTL INC SUB NT CONV BND CONV 86736fac0 770 1000000 PRN Sole 0 0 0
sunterra/SIGNATURE RESORTS INC SUB NT CONV BND CONV 82668baa4 309 1885000 PRN Sole 0 0 0
TEI-SAVE HOLDINGS INC CONV SUB NOTES BND CONV 879176af2 1606 1950000 PRN Sole 0 0 0
TELEFONOS DE MEXICO S A SR DEB CONV BND CONV 879403ad534243 22700000 PRN Sole 0 0 0
TEL-SAVE HOLDINGS INC SUB NOTE CONV BND CONV 879176ac9 2939 3750000 PRN Sole 0 0 0
TRANS WORLD AIRLINES INC SR SECD NOTE BND CONV 893349bg4 3438 4400000 PRN Sole 0 0 0
USINTERNETWORKING INC CONV SUB NTS 144A W/RR BND CONV 917311ae223465 9500000 PRN Sole 0 0 0
VANTIVE CORP SUB NOTE CONV BND CONV 922091ac7 3095 3684000 PRN Sole 0 0 0
VENTRO CORPORATION BND CONV 922815aa3 5006 6675000 PRN Sole 0 0 0
VERITAS SOFTWARE CORP CONV SUB NTS BND CONV 923436ab5165294 12022000 PRN Sole 0 0 0
VERTICALNET INC SUB DEB CONV 144A BND CONV 92532laa521525 6150000 PRN Sole 0 0 0
VIROPHARMA INC CONV SUB NOTES 144a 6.0% BND CONV 928241aa6 1080 1500000 PRN Sole 0 0 0
WORLD ACCESS INC CONV SUB NOTES 144A BND CONV 98141aaa9 1804 2120000 PRN Sole 0 0 0
WORLD ACCESS INC SUB CONV NOTE BND CONV 98141aac5 8124 9545000 PRN Sole 0 0 0
ABBOTT LABORATORIES COM 002824100 563 16000 SHR Sole 16000 0 0
ADVANCED MAGNETICS INC COM 00753p103 541 62700 SHR Sole 62700 0 0
ADVANTA CORP-CL B NON-VTG COM 007942204 3402 234850 SHR Sole 0 0 23485
AETNA INC COM 008117103 835 15000 SHR Sole 15000 0 0
ALBERTO CULVER CO-CL A COM 013068200 1201 54910 SHR Sole 54910 0 0
ALBERTO CULVER CO-CONV CL B COM 013068101 476 20000 SHR Sole 20000 0 0
ALTERNATIVE TECHNOLOGY RESOURCES INC COM 02145h104 265 37500 SHR Sole 37500 0 0
AMDOCS AUTOMATIC COM EXCHANGE SEC TR TR A COM 02342r202 8370 135000 SHR Sole 135000 0 0
AMERICAN WATER WORKS CO INC COM 030411102 344 14500 SHR Sole 14500 0 0
AMGEN INC COM 031162100 921 15000 SHR Sole 15000 0 0
APARTMENT INVESTMENT & MANAGEMENT CO-CL A COM 03748r101 1006 26350 SHR Sole 26350 0 0
APPLIED POWER INC-CL A COM 038225108 599 21000 SHR Sole 21000 0 0
ARDEN REALTY INC COM 039793104 3198 153200 SHR Sole 153200 0 0
ASSOCIATES FIRST CAPITAL CORP CL A COM 046008108 1038 48400 SHR Sole 48400 0 0
AVADO FINANCING I TERM SECS SER A CONV PFD COM 05336q205 2649 132425 SHR Sole 132425 0 0
BAY VIEW CAPITAL CORP-DEL COM 07262l101 266 35500 SHR Sole 35500 0 0
BCE INC COM 05534b109 11164 89000 SHR Sole 89000 0 0
BETHLEHEM STEEL CORP $3.50 CUM CONV PFD 14 COM 087509501 1312 47292 SHR Sole 47292 0 0
BOEING CO COM 097023105 5311 140000 SHR Sole 140000 0 0
CALPINE CAPITAL TRUST TERM INCOME FEFERRAB COM 131346207 1301 15000 SHR Sole 15000 0 0
CAMBRIDGE NEUROSCIENCE COM 132426107 291 179200 SHR Sole 179200 0 0
CANADIAN NATIONAL RAILWAY CO CONV PFD SECS COM 136375409 1402 32900 SHR Sole 32900 0 0
CARNIVAL CORP-CL A COM COM 143658102 645 26000 SHR Sole 26000 0 0
CAROLINA POWER & LIGHT CO COM 144141108 973 30000 SHR Sole 30000 0 0
CATERPILLAR INC COM 149123101 1617 41000 SHR Sole 41000 0 0
CENDANT CORPORATION PUR PRIDES RTS COM 151313111 2117 188150 SHR Sole 188150 0 0
CENTRAL EUROPEAN MEDIA ENTERPRISES LTD-CL COM g20045202 373 29850 SHR Sole 29850 0 0
CENTRAL PARKING FIN TR 5.25% PFD SECS CONV COM 154787303 219 16850 SHR Sole 16850 0 0
CEPHALON INC PFD CONV EXCHANGEABLE COM 156708406 14867 137500 SHR Sole 137500 0 0
CERNER CORP COM 156782104 429 15900 SHR Sole 15900 0 0
CITADEL HOLDING CORP CL A NON VTG COM 172862203 1073 373272 SHR Sole 373272 0 0
CITADEL HOLDING CORP CL B COM 172862302 313 102243 SHR Sole 102243 0 0
COLUMBIA ENERGY GROUP FORMERLY COLUMBIA GA COM 197648108 1185 20000 SHR Sole 20000 0 0
COMCAST CORP-CL A COM 200300101 1431 34700 SHR Sole 34700 0 0
COMPUTER CONCEPTS CORP NEW COM 204897300 448 305000 SHR Sole 305000 0 0
CONAGRA INC COM 205887102 798 44000 SHR Sole 44000 0 0
CONOCO INC-CL B COM 208251405 878 34250 SHR Sole 34250 0 0
CORTECH INC-NEW COM 22051j308 225 25000 SHR Sole 25000 0 0
COX COMMUNICATIONS INC NEW EXCH SUB DEB EX COM 224044503 6050 50000 SHR Sole 50000 0 0
CRAIG CORP-CL A PREF COM 224174201 2220 500200 SHR Sole 500200 0 0
CROWN CASTLE DECS TR V COM 24366f203 3395 102500 SHR Sole 102500 0 0
DENTAL/MEDICAL DIAGNOSTIC COM 24873k208 279 125850 SHR Sole 125850 0 0
DOLE FOOD CO INC COM 256605106 311 16000 SHR Sole 16000 0 0
EASTMAN KODAK CO COM 277461109 1412 26000 SHR Sole 26000 0 0
EMARKET PLACE COM COM 290783109 351 39000 SHR Sole 39000 0 0
ENTERCOM COMMUNICATIONS CAP TR TIDES 6.25% COM 29363p104 3037 47000 SHR Sole 47000 0 0
EQUITY OFFICE PROPERTIES TR 5.25% CONV CUM COM 294741509 2793 73500 SHR Sole 73500 0 0
ESTEE LAUDER AUTOMATIC COM EXCHANGE SEC TR COM 518437207 1798 20200 SHR Sole 20200 0 0
EXIDE CORP COM 302051107 354 30000 SHR Sole 30000 0 0
EXODUS COMMUNICATIONS INC COM 302088109 2892 20584 SHR Sole 20584 0 0
FAMILY DOLLAR STORES INC COM 307000109 271 13000 SHR Sole 13000 0 0
FECHTOR DETWILER MITCHELL & CO INC COM 313066102 248 180700 SHR Sole 180700 0 0
FEDERAL MOGUL CORP COM 313549107 492 29500 SHR Sole 29500 0 0
FEDERAL-MOGUL FINANCING TRUST 7% CUM CONV COM 313552200 3527 118050 SHR Sole 118050 0 0
FIRST AUSTRALIA PRIME INCOME FUND INC COM 318653102 657 148100 SHR Sole 148100 0 0
FLOWERS INDUSTRIES INC COM 343496105 677 44566 SHR Sole 44566 0 0
FORD MOTOR CO COM 345370100 1838 40000 SHR Sole 40000 0 0
FREEPORT MCMORAN COPPER & GOLD INC-CL A COM 35671d105 377 33900 SHR Sole 33900 0 0
FREEPORT MCMORAN COPPER & GOLD INC-DEP SHS COM 35671d501 1521 102700 SHR Sole 102700 0 0
FRIEDMAN BILLINGS RAMSEY GROUP INC-CL A COM 358433100 1003 92200 SHR Sole 92200 0 0
GENERAL GROWTH PROPERTIES INC COM 370021107 1295 42550 SHR Sole 42550 0 0
GENERAL MOTORS CORP COM 370442105 7167 86550 SHR Sole 86550 0 0
GENERAL MOTORS CORP-CL H NEW COM 370442832 3025 24300 SHR Sole 24300 0 0
GEORGIA PAC CORP PREMIUM EQUITY PART SEC U COM 373298801 3936 91800 SHR Sole 91800 0 0
GLOBAL CROSSING LTD COM g3921a100 3480 85005 SHR Sole 85005 0 0
GLOBAL CROSSING LTD CUM PFD 7.0% DUE 12/31 COM 37932j301 19260 79400 SHR Sole 79400 0 0
GLOBAL CROSSING LTD CUM PFD SHS 6.375% PER COM 37932j202 15577 140970 SHR Sole 140970 0 0
GLOBAL TELESYSTEMS GROUP INC DEPOSITARY SH COM 37936u401 5194 137000 SHR Sole 137000 0 0
GLOBAL TELESYSTEMS GROUP INC PFRD COM 37936u609 5403 142500 SHR Sole 142500 0 0
GLOBALSTAR TELECOMMUNICATIONS LTD 8% PFD COM 379364805 413 12000 SHR Sole 12000 0 0
GLOBALSTAR TELECOMMUNICATIONS LTD 9.0% CON COM 379364870 1723 54300 SHR Sole 54300 0 0
GOODYEAR TIRE & RUBBER CO COM 382550101 350 15000 SHR Sole 15000 0 0
HANOVER COMPRESSOR CAP TR CONV PRF 144A COM 41076m203 2156 25000 SHR Sole 25000 0 0
HEALTHEON/WEBMD CORPORATION COM 422209106 334 14500 SHR Sole 14500 0 0
HERBALIFE DEC TRUST III (EXCH INTO CL B) COM 243665205 2753 211800 SHR Sole 211800 0 0
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HILTON HOTELS CORP COM 432848109 380 49000 SHR Sole 49000 0 0
HINES HORTICULTURE INC COM 433245107 1120 143300 SHR Sole 143300 0 0
HOLLINGER INTERNATIONAL INC CL A COM 435569108 323 30000 SHR Sole 30000 0 0
HOMESTEAD VILLAGE PROPERTIES INC COM 437851108 280 87700 SHR Sole 87700 0 0
HOST MARRIOTT FINANCIAL TRUST 6.75% CONV Q COM 441079407 1450 46200 SHR Sole 46200 0 0
HTR JAPANESE SMALLER COMPANIES TRUST PLC-O COM g4401n109 412 400000 SHR Sole 400000 0 0
ICG COMMUNICATIONS INC-DEL COM 449246107 1617 44750 SHR Sole 44750 0 0
ICG FUNDING LLC-6.75% EXCH PFD COM 44924Q202 11673 150787 SHR Sole 150787 0 0
ICG FUNDING LLC-6.75% EXCH PFD 144 COM 44924Q400 2593 33500 SHR Sole 33500 0 0
IDT CORP COM 448947101 1228 29600 SHR Sole 29600 0 0
IMC GLOBAL INC COM 449669100 264 18000 SHR Sole 18000 0 0
INGERSOLL-RAND CO/INGERSOLL FING I-INCOME COM 456867209 931 39600 SHR Sole 39600 0 0
INTERMEDIA COMMUNICATIONS COM 458801107 11247 232800 SHR Sole 232800 0 0
INTERMEDIA COMMUNICATIONS PFRD D COM 458801701 20998 335300 SHR Sole 335300 0 0
INTERMEDIA COMMUNICATIONS PFRD E COM 458801834 35527 867845 SHR Sole 867845 0 0
INTERMEDIA COMMUNICATIONS PFRD E 144 COM 458801867 7635 186500 SHR Sole 186500 0 0
INTERMEDIA COMMUNICATIONS PRFD F COM 458801792 42884 1319500 SHR Sole 1319500 0 0
INTERMEDIA COMMUNICATIONS SER F COM 458801826 8182 251750 SHR Sole 251750 0 0
INTERNATIONAL PAPER CO COM 460146103 5900 138000 SHR Sole 138000 0 0
JOHNSON & JOHNSON COM 478160104 4064 58000 SHR Sole 58000 0 0
K MART FINANCING I-7.75% TRUST COM 498778208 12740 295850 SHR Sole 295850 0 0
KEMPER HIGH INCOME TRUST-SBI COM 48841g106 990 121833 SHR Sole 121833 0 0
KERR MCGEE CORP DECS % EXCHANGEABLE INTO C COM 492386305 5218 115950 SHR Sole 115950 0 0
KIMCO REALTY CORP 7.50% CV PFD DEPOSITARY COM 49446r877 454 19300 SHR Sole 19300 0 0
KOREA FUND INC COM 500634100 1126 75400 SHR Sole 75400 0 0
KROGER CO COM 501044101 790 45000 SHR Sole 45000 0 0
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</TABLE>
