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 September 30, 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 integral 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 6th day of November 2000.
Pacific Asset Management
Jonathan Glaser, Managing Member
Report Summary
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 331
Form 13F Information Table Value Total: $2,001,986,267
<TABLE> <C> <C>
FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
AAMES FINANCIAL CORP SR NOTES BND CONV 00253aad3 390,000 750,000 PRN Sole 0 0 0
AAMES FINANCIAL CORP SUB DEB CONV BND CONV 00253aae1 919,972 4,370,000 PRN Sole 0 0 0
ACCLAIM ENTMT INC CONV SUB NTS BND CONV 004325aa4 3,184,423 6,425,000 PRN Sole 0 0 0
ACT MANUFACTURING INC SERIES 144A BND CONV 000973aa5 3,112,031 2,250,000 PRN Sole 0 0 0
ACTIVISION INC NEW CONV SUB NOTES BND CONV 004930ac7 1,639,598 1,760,000 PRN Sole 0 0 0
ADVANCED ENERGY INDUSTRIES INC SUB NOTEBND CONV 007973aa8 440,938 500,000 PRN Sole 0 0 0
ADVANCED MICRO DEVICES SUB NOTE CONV BND CONV 007903ac1 28,451,250 20,250,000PRN Sole 0 0 0
AES CORP CONV JR SUB DEBS BND CONV 00130han5 7,723,770 3,000,000 PRN Sole 0 0 0
AETHER SYSTEMS INC CONV SUB NOTES BND CONV 00808vaa3 8,493,760 11,000,000PRN Sole 0 0 0
AFFYMETRIX INC CONV 144A BND CONV 00826taa6 991,520 1,000,000 PRN Sole 0 0 0
AFFYMETRIX INC CONV SUB NTS 144a REG RTBND CONV 00826tac2 1,194,160 2,000,000 PRN Sole 0 0 0
AKAMAI TECHNOLOGIES INC CONV SUB NOTE 1BND CONV 00971taa9 8,866,428 12,250,000PRN Sole 0 0 0
ALEXION PHARMACEUTICALS INC CONV 144A BND CONV 015351aa7 3,648,232 2,938,000 PRN Sole 0 0 0
ALKERMES INC CONV SUB NT BND CONV 01642tab4 5,096,250 6,750,000 PRN Sole 0 0 0
ALLIED RISER 7.5% 6/07 144a BND CONV 019496AA6 2,885,610 4,900,000 PRN Sole 0 0 0
ALPHARMA INC CONV SR SUB NOTES 144A W/RBND CONV 020813ac5 1,952,740 1,000,000 PRN Sole 0 0 0
ALPHARMA INC CONV SUB NOTES BND CONV 020813ab7 5,630,961 2,611,000 PRN Sole 0 0 0
ALPHARMA INC SR SUB NOTE CONV BND CONV 020813ad3 4,881,850 2,500,000 PRN Sole 0 0 0
AMAZON COM INC CONV SUB NTS BND CONV 023135af3 27,029,274 40,200,000PRN Sole 0 0 0
AMAZON.COM CONV EURO SUB NOTES BND CONV 023135ag1 12,008,145 19,625,000PRN Sole 0 0 0
AMERICA ONLINE INC DEL CONV SUB NOTE BND CONV 02364jac8 17,291,040 34,000,000PRN Sole 0 0 0
AMERICAN TOWER CORP CONV NT BND CONV 029912ab8 12,302,598 7,250,000 PRN Sole 0 0 0
AMERICAN TOWER CORP CONV NT (STD NTS)-1BND CONV 029912aa0 1,696,910 1,000,000 PRN Sole 0 0 0
AMERITRADE HLDG CORP SUB NT CONV BND CONV 03072hab5 4,087,246 5,540,000 PRN Sole 0 0 0
AMERITRADE HLDG CORP SUB NT CONV 144A BND CONV 03072haa7 1,512,429 2,050,000 PRN Sole 0 0 0
ANALOG DEVICES INC CONV SUB NOTES 144A BND CONV 032654ac9 1,538,310 1,500,000 PRN Sole 0 0 0
APP FINANCE VI MAURTITUS LTD LIQUID YLDBND CONV 00202naa3 809,600 7,040,000 PRN Sole 0 0 0
ASM LITHOGRAPHY HOLDINGS N V CONV SUB NBND CONV 00207eab6 1,097,000 1,000,000 PRN Sole 0 0 0
ASPEN TECHNOLOGY INC SUB DEB CONV BND CONV 045327ab9 3,827,792 3,650,000 PRN Sole 0 0 0
ASSISTED LIVINGS CONCEPTS INC CONV SUB BND CONV 04543lad1 1,497,440 3,056,000 PRN Sole 0 0 0
AT HOME CORP CONV SUB NOTES BND CONV 045919ac1 13,052,683 30,076,000PRN Sole 0 0 0
ATRIX LABS INC SUV NOTES CONV BND CONV 04962lac5 1,364,415 1,500,000 PRN Sole 0 0 0
AVIRON SUB NTS CONV BND CONV 053762ac4 10,528,644 5,475,000 PRN Sole 0 0 0
BAAN CO NV REG S BND CONV 5170027 2,225,955 2,382,000 PRN Sole 0 0 0
BAAN CO NV SUB NT CONV REGISTER BND CONV 056072ab7 5,786,950 6,140,000 PRN Sole 0 0 0
BANKATLANTIC BANCORP INC SUB DEB CV BND CONV 065908ab1 726,486 832,000 PRN Sole 0 0 0
BEA SYSTEMS INC SUB NOTE CONV BND CONV 073325ac6 43,457,120 18,400,000PRN Sole 0 0 0
BELL ATLANTIC FINANCIAL SVCS INC 144A EBND CONV 07785gab6 727,500 750,000 PRN Sole 0 0 0
BELL ATLANTIC FINL SVCS 144A SR NT EXCHBND CONV 07785gac4 29,728,607 26,440,000PRN Sole 0 0 0
BENCHMARK ELECTRONICS IN CONV SUB NT BND CONV 08160hac5 2,884,360 2,000,000 PRN Sole 0 0 0
BENCHMARK ELECTRONICS INC SUB NOTE CONVBND CONV 08160haa9 4,038,104 2,800,000 PRN Sole 0 0 0
CHECKFREE HOLDINGS CORP CONV SUB NOTES BND CONV 162816aa0 3,998,188 4,505,000 PRN Sole 0 0 0
CITRIX SYSTEMS INC SUB DEB CONV BND CONV 177376ab6 5,860,938 15,500,000PRN Sole 0 0 0
CNET INC SUB NOTE CONV BND CONV 125945ac9 4,042,574 4,625,000 PRN Sole 0 0 0
CNET INC SUB NT CONV 144A BND CONV 125945aa3 5,244,420 6,000,000 PRN Sole 0 0 0
COEUR D ALENE MINES CORP IDAHO CONV SUBBND CONV 192108af5 2,331,300 6,135,000 PRN Sole 0 0 0
COEUR D ALENE MINES CORP IDAHO SUB DEB BND CONV 192108ag3 380,000 1,000,000 PRN Sole 0 0 0
CONEXANT SYSTEMS INC CONV SUB NOTE BND CONV 207142ab6 956,470 500,000 PRN Sole 0 0 0
CONEXANT SYSTEMS INC CONV SUB NOTE 144ABND CONV 207142aa8 1,912,940 1,000,000 PRN Sole 0 0 0
COR THERAPEUTICS INC SUB NOTE CONV 144ABND CONV 217753ac6 27,633,620 14,000,000PRN Sole 0 0 0
CORE COMM LTD 6% BND CONV 21869NAC9 1,520,860 3,100,000 PRN Sole 0 0 0
COVAD COMMUNICATIONS GROUP INC CONV SENBND CONV 222814an5 8,347,500 9,000,000 PRN Sole 0 0 0
COX COMMUNICATIONS INC SUB DISC DEB EXCBND CONV 224044ax5 1,250,640 3,000,000 PRN Sole 0 0 0
CRITICAL PATH INC 144A BND CONV 22674vaa8 26,746,500 30,000,000PRN Sole 0 0 0
CURAGEN CORP CONV SUB DEB BND CONV 23126rac5 343,291 340,000 PRN Sole 0 0 0
CURAGEN CORP CONVERT SUB DEBS 144a DUE BND CONV 23126raa9 8,286,444 8,207,000 PRN Sole 0 0 0
DIGITAL ISLAND INC DEL CONV SUB NOTES BND CONV 25385naa9 5,714,457 9,598,000 PRN Sole 0 0 0
DOUBLECLICK INC CONV SUB NOTES 144A BND CONV 258609aa4 5,226,120 5,400,000 PRN Sole 0 0 0
DOUBLECLICK INC SRB NOTE CONV BND CONV 258609ac0 16,907,466 17,470,000PRN Sole 0 0 0
E TRADE GROUP INC CONV SUB NOTES 144a 6BND CONV 269246aa2 15,743,628 17,100,000PRN Sole 0 0 0
EARTHWEB INC CONV SUB NOTES DUE 01/25/2BND CONV 27032caa6 292,103 750,000 PRN Sole 0 0 0
ECHOSTAR COMMUNICATIONS CORP CONV SUB NBND CONV 278762ab5 23,998,044 18,125,000PRN Sole 0 0 0
ECHOSTAR COMMUNICATIONS CORP SUB NT CONBND CONV 278762ad1 3,310,075 2,500,000 PRN Sole 0 0 0
EFFICIENT NETWORKS INC SUB NOTE CONV 14BND CONV 282056aa8 4,538,482 7,055,000 PRN Sole 0 0 0
EMCOR GROUP INC CONV SUB NOTES BND CONV 29084qac4 4,646,742 4,535,000 PRN Sole 0 0 0
ETOYS INC SUB NT CONV 144A BND CONV 297862aa2 6,428,625 13,825,000PRN Sole 0 0 0
EXODUS COMMUNICATIONS INC CONV 144A BND CONV 302088ag4 7,240,397 4,700,000 PRN Sole 0 0 0
EXODUS COMMUNICATIONS INC NOTES BND CONV 302088aj8 21,336,064 13,850,000PRN Sole 0 0 0
GENERAL SEMICONDUCTOR NTS CONV BND CONV 370787ab9 1,464,570 1,500,000 PRN Sole 0 0 0
GENZYME CORP SUB NOTE CONV BND CONV 372917af1 2,772,060 1,500,000 PRN Sole 0 0 0
GILAT SATELLITE NETWORKS LTD CONV SUB NBND CONV 375255ac0 8,111,950 10,750,000PRN Sole 0 0 0
GLOBAL TELESYSTEMS GROUP INC CONV 5.75 BND CONV 37936uae4 8,364,625 27,425,000PRN Sole 0 0 0
HAAGEN ALEXANDER PPTYS INC SUB DEB CONVBND CONV 4036614 485,000 500,000 PRN Sole 0 0 0
HMT TECHNOLOGY CORP SUB NT CV BND CONV 403917ad9 2,200,000 5,500,000 PRN Sole 0 0 0
HOMEBASE INC CONV SUB NOTES 144A BND CONV 43738eaa6 1,090,000 2,000,000 PRN Sole 0 0 0
HOMEBASE INC CONV SUB NTS BND CONV 43738eab4 2,248,125 4,125,000 PRN Sole 0 0 0
HUMAN GENOME SCIENCES INC SUB NTE CONV BND CONV 444903af5 12,975,360 7,750,000 PRN Sole 0 0 0
HUMAN GENOME SCIENCES SERIES CONV SUB NBND CONV 444903ag3 6,122,600 6,325,000 PRN Sole 0 0 0
HUTCHINSON TECHNOLOGY INC CONV SUB NOTEBND CONV 448407ac0 3,650,331 4,032,000 PRN Sole 0 0 0
HUTCHINSON TECHNOLOGY INC CONV SUB NOTEBND CONV 448407aa4 905,340 1,000,000 PRN Sole 0 0 0
HUTCHISON WHAMPO HUWHY 144A BND CONV 44841haa1 4,160,975 4,130,000 PRN Sole 0 0 0
IBASIS INC SUB NT CONV BND CONV 450732aa0 6,695,000 13,000,000PRN Sole 0 0 0
IMCLONE SYSTEMS INC SUB NOTE CONV 144a BND CONV 45245waa7 6,265,554 5,100,000 PRN Sole 0 0 0
INCYTE PHARMACEUTICALS INC CONV SUB NOTBND CONV 45337caa0 7,703,550 9,000,000 PRN Sole 0 0 0
INGRAM MICRO INC CONV SR DEB BND CONV 457153ab0 12,468,750 33,250,000PRN Sole 0 0 0
INHALE THERAPUETIC SYSTEMS INC CONV SUBBND CONV 457191ad6 18,989,267 11,950,000PRN Sole 0 0 0
INTERLIANT INC SUB NT CONV BND CONV 458742aa1 4,880,250 12,050,000PRN Sole 0 0 0
INTERNATIONAL RECTIFIER CORP SUB NT CONBND CONV 460254ad7 912,950 1,000,000 PRN Sole 0 0 0
INTERNET CAPITAL GROUP CONV BND CONV 46059caa4 5,443,100 10,000,000PRN Sole 0 0 0
ITC DELTACOM INC CONV SUB NOTE 144A BND CONV 45031taj3 1,865,905 2,950,000 PRN Sole 0 0 0
ITC DELTACOM IND CONV SUB NOTE BND CONV 45031tak0 2,457,301 3,885,000 PRN Sole 0 0 0
KELLSTROM INDS INC CONV SUB NOTES BND CONV 488035ae6 294,793 670,000 PRN Sole 0 0 0
KULICKE & SOFFA CONVERTIBLE BOND BND CONV 501242ae1 4,058,600 4,791,000 PRN Sole 0 0 0
LAM RESEARCH CORP CONV NOTE BND CONV 512807ac2 9,649,284 9,245,000 PRN Sole 0 0 0
LEVEL 3 COMMUNICATIONS INC SUB DEB CONVBND CONV 52729nag5 56,725,345 42,025,000PRN Sole 0 0 0
LIBERTY MEDIA CONV BND CONV 530715ag6 3,316,250 3,500,000 PRN Sole 0 0 0
LIBERTY MEDIA CORP SENIOR EXCH-CONV DEBBND CONV 530715af8 14,212,500 15,000,000PRN Sole 0 0 0
LIBERTY MEDIA GROUP CONV DEBS 144a 3.75BND CONV 530715ak7 7,731,200 10,000,000PRN Sole 0 0 0
LOEWS CORP SUB NOTE EXCH INTO SHS DIAMOBND CONV 540424al2 5,292,109 5,950,000 PRN Sole 0 0 0
MAIL COM INC CNV SUB NT 144A 7% BND CONV 560311aa0 5,340,884 11,257,000PRN Sole 0 0 0
MASCOTECH INC SUB DEV CV BND CONV 574670ab1 1,425,000 2,000,000 PRN Sole 0 0 0
MAY & SPEH INC SUB NTS CONV BND CONV 577777aa3 2,376,695 1,450,000 PRN Sole 0 0 0
NETWORK ASSOCIATES INC CONV SUB DEBS BND CONV 640938ab2 2,617,230 6,798,000 PRN Sole 0 0 0
NEXTEL COMMUNICATIONS INC CONV SENIOR NBND CONV 65332vat0 2,072,620 1,000,000 PRN Sole 0 0 0
NEXTEL COMMUNICATIONS INC SR NTS 144A 4BND CONV 65332var4 25,327,416 12,220,000PRN Sole 0 0 0
NTL DEL INC SUB NT CONV BND CONV 62940taa7 5,510,000 8,000,000 PRN Sole 0 0 0
NTL INC CONV SUB NTS 7% BND CONV 629407al1 23,964,081 18,134,000PRN Sole 0 0 0
NTL INC SUB NT CONV 144A 5.75% BND CONV 629407an7 26,347,443 38,254,000PRN Sole 0 0 0
ONLINE RES CONV SUB NT BND CONV 68273gaa9 300,000 300,000 PRN Sole 0 0 0
PERKINELMER INC BND CONV 714046aa7 5,121,478 7,516,000 PRN Sole 0 0 0
PETSMART INC CONV SUB NOTES BND CONV 716768ab2 12,982,297 16,347,000PRN Sole 0 0 0
PHOENIX INVT PARTNERS LTD SUB DEB CONV BND CONV 719085aa0 4,478,419 2,323,000 PRN Sole 0 0 0
PREMIERE TECHNOLOGIES INC SUB NOTE CONVBND CONV 74058fac6 718,800 1,198,000 PRN Sole 0 0 0
PRIDE INTL INC SUB DEB CONV 0% CPN BND CONV 741932ab3 2,262,500 5,000,000 PRN Sole 0 0 0
PRIMUS TELECOMMUNICATIONS GROUP INC CONBND CONV 741929ak9 2,009,000 4,900,000 PRN Sole 0 0 0
PRIMUS TELECOMMUNICATIONS SUB DEB CONV BND CONV 741929al7 780,000 2,000,000 PRN Sole 0 0 0
PSINET/METAMOR WORLDWIDE INC SUB NOTE CBND CONV 59133paa8 7,372,050 14,455,000PRN Sole 0 0 0
RATIONAL SOFTWARE CORP SUB NT CONV 144aBND CONV 75409paa1 2,076,250 1,000,000 PRN Sole 0 0 0
READ-RITE CORP CONV SUB NT BND CONV 755246ab1 19,448,850 7,627,000 PRN Sole 0 0 0
REDBACK NETWORKS SUB NOTE CONV 144A BND CONV 757209aa9 17,005,491 15,300,000PRN Sole 0 0 0
REPTRON ELECTRS INC SUB NT DEB BND CONV 76026waa7 1,563,420 2,000,000 PRN Sole 0 0 0
RES-CARE INC CONV SUB NOTES BND CONV 760943ac4 787,500 1,750,000 PRN Sole 0 0 0
RF MICRO DEVICES INC CONV SUB NT BND CONV 749941aa8 9,706,935 10,500,000PRN Sole 0 0 0
S3 INC SUB NOTE CONV BND CONV 784849ac5 750,378 829,000 PRN Sole 0 0 0
SAFEGUARD SCIENTIFIC INC CONV SUB NOTESBND CONV 786449ad0 3,596,775 3,500,000 PRN Sole 0 0 0
SANMINA CORP bond BND CONV 800907ac1 15,211,740 36,500,000PRN Sole 0 0 0
SCANDINAVIAN BROADCASTING SYS SUB NOTE BND CONV 805906ac8 1,403,080 1,000,000 PRN Sole 0 0 0
SIMULA INC SR SUB NTS CONV BND CONV 829206ab7 586,993 1,660,000 PRN Sole 0 0 0
SIRIUS/CD RADIO INC CONV SUB NOTES BND CONV 125127aj9 29,035,480 14,374,000PRN Sole 0 0 0
SOLECTRON CORP SR LIQUID YIELD OPT NTE BND CONV 834182ak3 1,515,938 2,250,000 PRN Sole 0 0 0
SPORTSLINE USA INC CONV SUB NOTES BND CONV 848934ac9 8,618,079 13,163,000PRN Sole 0 0 0
STANDARD MOTOR PRODUCTS INC SUB DEB CONBND CONV 853666ab1 675,000 1,250,000 PRN Sole 0 0 0
sunterra/SIGNATURE RESORTS INC SENIOR NBND CONV 82668baf3 324,600 1,082,000 PRN Sole 0 0 0
TELEFONOS DE MEXICO S A SR DEB CONV BND CONV 879403ad5 16,405,654 13,100,000PRN Sole 0 0 0
TEL-SAVE HOLDINGS INC CONV SUB NOTES BND CONV 879176af2 1,288,602 2,450,000 PRN Sole 0 0 0
TEL-SAVE HOLDINGS INC SUB NOTE CONV BND CONV 879176ac9 1,971,935 3,500,000 PRN Sole 0 0 0
TERAYON COMMUNICATION SYS SUB CONV NT 1BND CONV 880775aa9 5,340,000 8,000,000 PRN Sole 0 0 0
TRANS WORLD AIRLINES INC SR SECD NOTE BND CONV 893349bg4 2,948,000 4,400,000 PRN Sole 0 0 0
TRANSOCEAN SECDCO FOREX INC DEB 0% CPN BND CONV 893830aa7 1,575,200 2,500,000 PRN Sole 0 0 0
TRANSWITCH CORP BND CONV 894065aa9 9,790,000 8,000,000 PRN Sole 0 0 0
TRIKON TECHNOLOGIES INC SUB NOTE CONV 1BND CONV 72753maa7 522,500 550,000 PRN Sole 0 0 0
USINTERNETWORKING INC CONV SUB NTS 144ABND CONV 917311ae2 5,362,735 8,500,000 PRN Sole 0 0 0
USINTERNETWORKING INC SUB NTE CONV BND CONV 917311ah5 6,371,560 10,099,000PRN Sole 0 0 0
VENTRO CORPORATION BND CONV 922815aa3 2,508,153 8,275,000 PRN Sole 0 0 0
VERITAS SOFTWARE CORP CONV SUB NTS BND CONV 923436ab5 179,007,58012,022,000PRN Sole 0 0 0
VIROPHARMA INC CONV SUB NOTES 144a 6.0%BND CONV 928241aa6 554,125 1,300,000 PRN Sole 0 0 0
WORLD ACCESS INC CONV SUB NOTES 144A BND CONV 98141aaa9 1,506,811 2,120,000 PRN Sole 0 0 0
WORLD ACCESS INC SUB CONV NOTE BND CONV 98141aac5 6,961,894 9,795,000 PRN Sole 0 0 0
WORLD COLOR PRESS INC DEL CONV SR SUB NBND CONV 981443aa2 3,729,146 3,625,000 PRN Sole 0 0 0
ADVANTA CORP-CL B NON-VTG COM 007942204 1,915,984 235,350 SHR Sole 235,350 0 0
ADELPHIA COMMUNICATIONS CORP CONV PFD-5COM 006848402 3,808,595 37,000 SHR Sole 37,000 0 0
ADVANCED MAGNETICS INC COM 00753p103 505,500 134,800 SHR Sole 134,800 0 0
AES TR III 6.75% TR PFD CONV SECS COM 00808n202 5,209,450 50,000 SHR Sole 50,000 0 0
ALBERTO CULVER CO-CL A COM 013068200 4,352,441 173,660 SHR Sole 173,660 0 0
ALCOA INC COM 013817101 511,323 20,200 SHR Sole 20,200 0 0
ALLIANT ENERGY RES INC PRFD 7.25% 144 COM 18803205 6,173,750 110,000 SHR Sole 110,000 0 0
ALLIED RISER COMMUNICATIONS CORP COM 019496108 206,700 31,200 SHR Sole 31,200 0 0
AMGEN INC COM 031162100 2,967,690 42,500 SHR Sole 42,500 0 0
ARDEN REALTY INC COM 039793104 592,567 22,100 SHR Sole 22,100 0 0
AUDIOVOX CORP WTS COM 050757129 1,007,500 130,000 SHR Sole 130,000 0 0
AVADO FINANCING I TERM SECS SER A CONV COM 05336q205 908,075 129,725 SHR Sole 129,725 0 0
BEAR STEARNS COMPANIES INC COM 073902108 1,071,000 17,000 SHR Sole 17,000 0 0
BETHLEHEM STEEL CORP $3.50 CUM CONV PFDCOM 087509501 1,278,656 88,950 SHR Sole 88,950 0 0
BOLDER TECHNOLOGIES CORP CONV PFD SER ACOM 097519201 333,466 16,250 SHR Sole 16,250 0 0
BURLINGTON RESOURCES INC COM 122014103 699,447 19,000 SHR Sole 19,000 0 0
CALPINE CAP TR II PFD CONV 5.5% COM 13134E309 5,377,800 50,000 SHR Sole 50,000 0 0
CAMBRIDGE NEUROSCIENCE COM 132426107 310,250 174,200 SHR Sole 174,200 0 0
CATERPILLAR INC COM 149123101 1,046,250 31,000 SHR Sole 31,000 0 0
CENDANT CORPORATION PUR PRIDES RTS COM 151313111 1,314,051 208,150 SHR Sole 208,150 0 0
CENTRAL PARKING FIN TR 5.25% PFD SECS CCOM 154787303 219,016 16,850 SHR Sole 16,850 0 0
CEPHALON INC PFD CONV EXCHANGEABLE COM 156708406 18,915,188 137,500 SHR Sole 137,500 0 0
CHARLES SCHWAB CORP NEW COM 808513105 1,065,000 30,000 SHR Sole 30,000 0 0
CHASE MANHATTAN CORP NEW COM 16161a108 4,849,740 105,000 SHR Sole 105,000 0 0
CISCO SYSTEMS INC COM 17275r102 6,392,149 115,695 SHR Sole 115,695 0 0
CITADEL HOLDING CORP CL A NON VTG COM 172862203 1,783,350 570,672 SHR Sole 570,672 0 0
CITADEL HOLDING CORP CL B COM 172862302 699,509 223,843 SHR Sole 223,843 0 0
CONOCO INC-CL B COM 208251405 1,346,900 50,000 SHR Sole 50,000 0 0
CORTECH INC-NEW COM 22051j308 276,025 36,200 SHR Sole 36,200 0 0
COX COMMUNICATIONS INC NEW GROWTH PRIDECOM 224044404 969,325 20,300 SHR Sole 20,300 0 0
CRAIG CORP-CL A PREF COM 224174201 1,949,400 649,800 SHR Sole 649,800 0 0
CRESCENT REAL ESTATE EQUITIES PFRD COM 22575N207 216,147 13,250 SHR Sole 13,250 0 0
CROWN CASTLE DECS TR V COM 24366f203 3,379,238 121,250 SHR Sole 121,250 0 0
CROWN CASTLE INTL CORP CONV PFD 6.25% COM 228227401 18,038,256 354,958 SHR Sole 354,958 0 0
DECS TR VI DECS COM 24366q209 19,048,029 429,000 SHR Sole 429,000 0 0
DELUXE CORP COM 248019101 345,321 17,000 SHR Sole 17,000 0 0
DIAL CORP NEW COM 25247d101 358,050 30,800 SHR Sole 30,800 0 0
DIGEX INC DEL CL A COM 253756100 2,075,625 44,280 SHR Sole 44,280 0 0
DIRECT INSITE CORP COM 25457c108 209,840 305,000 SHR Sole 305,000 0 0
EDGEWATER TECHNOLOGY INC COM 280358102 657,956 125,325 SHR Sole 125,325 0 0
ENTERCOM COMMUNICATIONS CAP TR TIDES 6.COM 29363p104 3,073,248 72,000 SHR Sole 72,000 0 0
EQUITY OFFICE PROPERTIES TR 5.25% CONV COM 294741509 2,300,000 50,000 SHR Sole 50,000 0 0
ESTEE LAUDER AUTOMATIC COM EXCHANGE SECCOM 518437207 3,794,720 58,700 SHR Sole 58,700 0 0
FEDERAL-MOGUL FINANCING TRUST 7% CUM COCOM 313552200 1,062,450 118,050 SHR Sole 118,050 0 0
FEDERAL-MOGUL FINANCING TRUST 7% CUM COCOM 313552408 787,500 87,500 SHR Sole 87,500 0 0
FEDERATED DEPARTMENT STORES INC-DEL WTSCOM 31410h127 556,686 122,000 SHR Sole 122,000 0 0
FIRST AUSTRALIA PRIME INCOME FUND INC COM 318653102 589,400 140,000 SHR Sole 140,000 0 0
FLORIDA PROGRESS CORP COM 341109106 1,614,609 30,500 SHR Sole 30,500 0 0
FLOWERS INDUSTRIES INC COM 343496105 1,691,937 86,766 SHR Sole 86,766 0 0
FREEPORT MCMORAN COPPER & GOLD INC-DEP COM 35671d501 1,096,250 87,700 SHR Sole 87,700 0 0
FRIEDMAN BILLINGS RAMSEY GROUP INC-CL ACOM 358433100 904,292 97,100 SHR Sole 97,100 0 0
GENERAL GROWTH PPTYS INCPFD DEPOSITARY COM 370021206 809,862 36,500 SHR Sole 36,500 0 0
GENERAL MILLS INC COM 370334104 3,230,500 91,000 SHR Sole 91,000 0 0
GENERAL MOTORS CORP-CL H NEW COM 370442832 568,854 15,300 SHR Sole 15,300 0 0
GEORGIA PAC CORP PREMIUM EQUITY PART SECOM 373298801 692,731 23,600 SHR Sole 23,600 0 0
GEORGIA PACIFIC CORP (GEORGIA PACIFIC GCOM 373298108 1,880,000 80,000 SHR Sole 80,000 0 0
GEORGIA PACIFIC CORP (TIMBER GROUP) COM 373298702 3,028,813 112,700 SHR Sole 112,700 0 0
GLOBAL CROSSING LTD 7% CONV PFD COM 37932J301 13,785,200 69,400 SHR Sole 69,400 0 0
GLOBAL TELESYSTEMS GROUP INC DEPOSITARYCOM 37936u401 1,541,250 137,000 SHR Sole 137,000 0 0
GLOBAL TELESYSTEMS GROUP INC DEPOSITARYCOM 37936u609 5,418,000 481,600 SHR Sole 481,600 0 0
GLOBALSTAR TELECOMMUNICATIONS 9% 144 COM 379364870 969,255 54,300 SHR Sole 54,300 0 0
GRANT PRIDECO INC COM 38821g101 372,946 17,000 SHR Sole 17,000 0 0
HERBALIFE DEC TRUST III (EXCH INTO CL BCOM 243665205 3,500,200 378,400 SHR Sole 378,400 0 0
HERCULES INC COM 427056106 285,325 20,200 SHR Sole 20,200 0 0
HERCULES TR II UNIT $1000 PFD SEC & 1 WCOM 427098306 5,748,600 10,050 SHR Sole 10,050 0 0
HINES HORTICULTURE INC COM 433245107 2,268,338 465,300 SHR Sole 465,300 0 0
HOST MARRIOTT FINANCIAL TRUST 6.75% CONCOM 441079407 4,516,882 121,200 SHR Sole 121,200 0 0
ICG FUNDING LLC-6.75% EXCH PFD COM 44924Q400 479,896 213,287 SHR Sole 213,287 0 0
IMC GLOBAL INC COM 449669100 221,850 15,300 SHR Sole 15,300 0 0
INGERSOLL-RAND CO/INGERSOLL FING I-INCOCOM 456867209 667,800 37,100 SHR Sole 37,100 0 0
INSIGNIA SYSTEMS INC COM 45765Y105 365,180 47,500 SHR Sole 47,500 0 0
INTEL CORP COM 458140100 1,373,625 33,000 SHR Sole 33,000 0 0
INTERMEDIA COMMUNICATIONS PFRD E COM 458801834 23,906,578 902,135 SHR Sole 902,135 0 0
INTERMEDIA COMMUNICATIONS PFRD E 144 COM 458801867 2,567,850 96,900 SHR Sole 96,900 0 0
INTERMEDIA COMMUNICATIONS PRFD F COM 458801792 46,041,656 2,012,750 SHR Sole 2,012,750 0 0
INTERMEDIA COMMUNICATIONS SER F COM 458801826 2,928,000 128,000 SHR Sole 128,000 0 0
INTERNATIONAL PAPER CO COM 460146103 674,168 23,500 SHR Sole 23,500 0 0
ISTAR FINL INC/STARWOOD FINANCIAL INC COM 45031u101 980,541 43,700 SHR Sole 43,700 0 0
K MART FINANCING I-7.75% TRUST COM 498778208 9,101,670 294,400 SHR Sole 294,400 0 0
KEMPER HIGH INCOME TRUST-SBI COM 48841g106 971,233 116,833 SHR Sole 116,833 0 0
KERR MCGEE CORP DECS % EXCHANGEABLE INTCOM 492386305 8,170,991 149,800 SHR Sole 149,800 0 0
KIMCO REALTY CORP 7.50% CV PFD DEPOSITACOM 49446r877 496,975 19,300 SHR Sole 19,300 0 0
KOREA FUND INC COM 500634100 784,800 65,400 SHR Sole 65,400 0 0
LEGATO SYSTEMS INC COM 524651106 278,167 20,700 SHR Sole 20,700 0 0
LINCOLN NATIONAL CORP IND 7.75% INCOME COM 534187604 1,181,949 48,700 SHR Sole 48,700 0 0
LTV CORP NEW PFD CONV SER A COM 501921209 932,588 32,500 SHR Sole 32,500 0 0
LTV CORP NEW PFD CONV SER A 8.25% COM 501921308 1,018,673 35,500 SHR Sole 35,500 0 0
LUCENT TECHNOLOGIES INC COM 549463107 489,008 16,000 SHR Sole 16,000 0 0
LYCOS INC COM 550818108 722,043 10,500 SHR Sole 10,500 0 0
MAUI LAND & PINEAPPLE CO INC COM 577345101 7,690,300 290,200 SHR Sole 290,200 0 0
MAXTOR DECS TRUST IV DECS COM 243664208 2,819,480 270,350 SHR Sole 270,350 0 0
MAXXAM INC COM 577913106 496,875 25,000 SHR Sole 25,000 0 0
MAY DEPARTMENT STORES CO COM 577778103 512,500 25,000 SHR Sole 25,000 0 0
MCLEODUSA INC PFD CONV SER A COM 582266201 37,013,475 93,705 SHR Sole 93,705 0 0
MEAD CORP COM 582834107 1,706,375 73,000 SHR Sole 73,000 0 0
MEDIAONE GROUP INC PREM INCOME EXCHANGECOM 58440j500 4,977,727 132,200 SHR Sole 132,200 0 0
MEDIAONE GROUP PREM INCOME EXCH SECS 6.COM 58440j401 1,028,916 12,350 SHR Sole 12,350 0 0
MERRILL LYNCH & CO INC-6.25% COM 590188751 1,075,201 69,850 SHR Sole 69,850 0 0
MICROSOFT CORP COM 594918104 2,651,000 44,000 SHR Sole 44,000 0 0
MIPS TECHNOLOGIES INC CL B COM 604567206 1,212,750 31,500 SHR Sole 31,500 0 0
MOLEX INC-CL A COM 608554200 15,913,228 384,025 SHR Sole 384,025 0 0
MORGAN STANLEY INDIA INVT FD COM 61745c105 363,125 35,000 SHR Sole 35,000 0 0
MOTOROLA INC COM 620076109 932,250 33,000 SHR Sole 33,000 0 0
MPOWER COMM CORP 7.25% PRD CONV SER D COM 62473j205 8,896,927 561,462 SHR Sole 561,462 0 0
NABISCO GROUP HLDG CORP COM 62952p102 835,050 29,300 SHR Sole 29,300 0 0
NABISCO HOLDINGS CORP-CL A COM 629526104 1,849,000 34,400 SHR Sole 34,400 0 0
NAVISTAR INTERNATIONAL CORP NEW COM 63934e108 449,070 15,000 SHR Sole 15,000 0 0
NETWORK PLUS CORP DEPOSITORY SH REPSTG COM 64122d605 1,681,875 97,500 SHR Sole 97,500 0 0
NEWFIELD FINL TR I CONV 6.5% PRD COM 651291205 884,488 12,500 SHR Sole 12,500 0 0
NEWS CORP LTD-SPONSORED ADR REPSTG 4 LTCOM 652487802 2,789,063 59,500 SHR Sole 59,500 0 0
NL INDUSTRIES INC NEW COM 629156407 319,939 15,100 SHR Sole 15,100 0 0
NORTHPOINT COMMUNICATIONS GROUP INC COM 666610100 266,250 30,000 SHR Sole 30,000 0 0
OMNIPOINT CORP DEPOSITARY SH REPSTG 1/2COM 68212d607 31,760,958 189,500 SHR Sole 189,500 0 0
OWENS ILLINOIS INC CONV PFD $2.375 COM 690768502 1,964,270 110,000 SHR Sole 110,000 0 0
PALL CORP COM 696429307 299,070 15,000 SHR Sole 15,000 0 0
PALM INC COM 696642107 889,358 16,800 SHR Sole 16,800 0 0
PATINA OIL AND GAS CORP COM 703224113 483,780 60,000 SHR Sole 60,000 0 0
PE CORP EXP 9/11/03 wts COM 69332s110 6,423,588 65,400 SHR Sole 65,400 0 0
PEGASUS COMMUNICTIONS CORP (6.5% PFD 14COM 705904407 6,712,500 75,000 SHR Sole 75,000 0 0
PHILADELPHIA CONSOLIDATED HOLDING CORP-COM 717528301 1,658,300 175,000 SHR Sole 175,000 0 0
PICO HOLDINGS INC-NEW COM 693366205 653,150 50,000 SHR Sole 50,000 0 0
POWER CORP OF CANADA SUB-VTG COM 739239101 712,998 32,500 SHR Sole 32,500 0 0
POWER FINANCIAL CORP COM 73927c100 559,284 28,326 SHR Sole 28,326 0 0
PSINET INC 7% CUM CONV PFD SER D- 144A COM 74437c408 16,268,175 985,950 SHR Sole 985,950 0 0
PSINET INC CONV PFD 7% SER D COM 74437c507 4,049,925 245,450 SHR Sole 245,450 0 0
RAYTHEON CO-CL A COM 755111309 355,875 13,000 SHR Sole 13,000 0 0
RECKSON ASSOCIATES REALTY CONV PFD SE COM 75621k205 965,388 41,300 SHR Sole 41,300 0 0
RECKSON ASSOCS RLTY CORP CL B COM 75621k304 708,975 27,400 SHR Sole 27,400 0 0
RELIANT ENERGY INC COM 75952j207 88,921,313 1,156,700 SHR Sole 1,156,700 0 0
RHYTHMS NETCONNECTIONS INC CONV PFD 6.7COM 762430304 2,365,550 74,800 SHR Sole 74,800 0 0
ROYAL DUTCH PETROLEUM CO NY REGISTRY (DCOM 780257804 1,498,450 25,000 SHR Sole 25,000 0 0
RSL COMMUNICATIONS LTD CONV PFD SER A 1COM 74972q200 417,188 75,000 SHR Sole 75,000 0 0
RSL COMMUNICATIONS LTD CONV PFD SER A RCOM 74972q309 1,029,063 185,000 SHR Sole 185,000 0 0
RYDER SYSTEM INC COM 783549108 313,446 17,000 SHR Sole 17,000 0 0
SAFEGUARD SCIENTIFICS INC COM 786449108 279,132 14,000 SHR Sole 14,000 0 0
SAGE INC COM 786632109 1,935,687 219,640 SHR Sole 219,640 0 0
SEAGATE TECHNOLOGY INC COM 811804103 28,435,038 412,102 SHR Sole 412,102 0 0
SEAGRAM LTD 7.50% PFD ADJ CONV RATE EQUCOM 811850205 6,459,990 123,400 SHR Sole 123,400 0 0
SEALED AIR CORP NEW-$2 CONV PFD SER A COM 81211k209 971,380 21,525 SHR Sole 21,525 0 0
SEI TRUST I GTD TRUST PFD SECS CONV SERCOM 78411y104 3,381,963 51,000 SHR Sole 51,000 0 0
SENSORMATIC ELECTRS CORP DEPOSITARY SH COM 817265804 1,671,225 75,000 SHR Sole 75,000 0 0
SILICON GRAPHICS INC COM 827056102 960,713 232,900 SHR Sole 232,900 0 0
SINCLAIR BROADCAST GROUP INC $3 CONV EXCOM 829226505 1,355,547 43,500 SHR Sole 43,500 0 0
SIRIUS SATELLITE RADIO INC 144A WTS COM 82966u129 1,846,285 14,500 SHR Sole 14,500 0 0
SL GREEN REALTY CORP PFD INCOME EQUITY COM 78440x200 526,125 17,250 SHR Sole 17,250 0 0
SNAP-ON INC COM 833034101 471,260 20,000 SHR Sole 20,000 0 0
SNYDER STRYPES TRUST-$1.6778 STRUCTUREDCOM 833502107 2,533,313 114,500 SHR Sole 114,500 0 0
SOVEREIGN BANCORP INC TR PFD INCOME EQUCOM 845905306 20,294,416 356,850 SHR Sole 356,850 0 0
SPRINT CORP PCS SER 1 COM 852061506 525,945 15,000 SHR Sole 15,000 0 0
SPRINT CORP-fon COM 852061100 1,172,520 40,000 SHR Sole 40,000 0 0
sprint/COMCAST CORP 0 PREM OPTION SECS COM 200300507 24,317,569 355,650 SHR Sole 355,650 0 0
STONE CONTAINER CORP-$1.75 CUM CONV EXCCOM 861589307 3,212,755 153,500 SHR Sole 153,500 0 0
SUIZA CAPITAL TRUST II 5.5% TRUST CONV COM 86507g408 3,001,650 75,000 SHR Sole 75,000 0 0
SUPERIOR TR I PFD CONV 8.50% BOOK ENTRYCOM 86836p202 3,262,864 148,312 SHR Sole 148,312 0 0
TELEPHONE & DATA SYSTEMS INC COM 879433100 10,469,453 94,575 SHR Sole 94,575 0 0
THERMO FIBERGEN COM 88355U109 12,854,156 1,043,950 SHR Sole 1,043,950 0 0
THERMO FIBERGEN RTS COM 88355u117 499,331 1,331,550 SHR Sole 1,331,550 0 0
TIMET CAPITAL TRUST I-6.625% CONV PFD SCOM 887381408 1,464,900 89,750 SHR Sole 89,750 0 0
TITAN CAPITAL TR 144 COM 888262201 518,438 17,500 SHR Sole 17,500 0 0
TOWER AUTOMOTIVE CAP TR TR PFD CONV SECCOM 891706301 1,557,504 56,750 SHR Sole 56,750 0 0
TOWER AUTOMOTIVE INC COM 891707101 354,375 37,800 SHR Sole 37,800 0 0
TRANS WORLD AIRLINES INC $9.25 CONV EXCCOM 893349738 594,938 47,500 SHR Sole 47,500 0 0
TRIKON TECHNOLOGIES INC PFD SER H COM 896187200 560,394 62,266 SHR Sole 62,266 0 0
UAL CORP NEW COM 902549500 1,302,000 31,000 SHR Sole 31,000 0 0
ULTRAMAR DIAMOND SHAMROCK CORP COM 904000106 1,395,625 55,000 SHR Sole 55,000 0 0
UNION PACIFIC CAPITAL TRUST TERM INCOMECOM 907824403 4,948,957 122,100 SHR Sole 122,100 0 0
UNITEDGLOBALCOM CL A COM 913247508 510,000 17,000 SHR Sole 17,000 0 0
UNITEDGLOBALCOM DEPOSITARY SH REPSTG COM 913247201 21,270,678 507,000 SHR Sole 507,000 0 0
UNITEDGLOBALCOM DEPOSITARY SHS REP 1/20COM 913247805 11,013,910 339,925 SHR Sole 339,925 0 0
USX CAPITAL TRUST I-6.75% CONV QTRLY INCOM 90339e201 2,321,975 70,900 SHR Sole 70,900 0 0
VEC TR I PREMIUM EQUITY PART SEC UNITS COM 91821d107 2,217,098 75,350 SHR Sole 75,350 0 0
VENTAS INC COM 92276f100 517,000 103,400 SHR Sole 103,400 0 0
VIATEL FING TR I TR PFD CONV % 144A COM 92553a204 1,991,625 113,000 SHR Sole 113,000 0 0
VIDESH SANCHAR NIGAM LTD SPONSORED ADR COM 92659g402 1,056,000 132,000 SHR Sole 132,000 0 0
WACKENHUT CORP-SER B COM 929794303 2,376,825 288,100 SHR Sole 288,100 0 0
WALGREEN CO COM 931422109 607,008 16,000 SHR Sole 16,000 0 0
WAL-MART STORES INC COM 931142103 1,010,625 21,000 SHR Sole 21,000 0 0
WEYERHAEUSER CO COM 962166104 2,224,663 55,100 SHR Sole 55,100 0 0
WILLIAMS COMMUNICATIONS GROUP INC PFD CCOM 969455203 4,135,268 97,500 SHR Sole 97,500 0 0
WINSTAR COMMUNICATIONS INC CONV SR PFD COM 975515875 6,687,621 220,750 SHR Sole 220,750 0 0
WINSTAR COMMUNICATIONS INC PFRD REG 6% COM 975515602 6,712,254 248,602 SHR Sole 248,602 0 0
WORLDCOM INC GA NEW COM 98157d106 19,174,735 631,267 SHR Sole 631,267 0 0
XEROX CORP COM 984121103 1,191,483 79,100 SHR Sole 79,100 0 0
2001986267
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