PACIFIC LIFE INSURANCE CO/CA
13F-HR, 2000-08-15
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 13F

FORM 13F COVER PAGE

Report for the Quarter Ended: June 30, 2000

Check here if Amendment			[ ];  Amendment Number:
This Amendment (Check only one.):	[ ] is a restatement.
						[ ] adds new holdings entries.


Institutional Investment Manager Filing this Report:

Name:		PACIFIC LIFE INSURANCE COMPANY
Address:	700 Newport Center Drive
Newport Beach, CA 92660

13F File Number: 28-351

The institutional investment manager filing this report and the person by
whom it is signed hereby represent that the person signing the report is
authorized to submit it, that all information contained herein is true,
correct and complete, and that it is understood that all required items,
statements, schedules, lists, and tables, are considered integral parts
of this form.


Person Signing this Report on Behalf of Reporting Manager:

Name:		Yves Pinkowitz
Title:	VP, Securities Portfolio Operations
Phone:	949-219-5093

Signature, Place, and Date of Signing







Report Type (Check only one.):

[X]	13F Holdings Report.

[ ]	13F Notice.

[ ] 	13F Combination Report.

List of Other Managers Reporting for this Manager:

None









I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934
<PAGE>
FORM 13F SUMMARY PAGE

Report Summary:

Number of Other Included Managers:	0

Form 13F Information Table Entry Total:114

Form 13F Information Table Value Total:$208,476,210

List of Other Included Managers:

None

<PAGE>

PACIFIC LIFE INSURANCE COMPANY
PER SEC 13F
AS OF : 06/30/2000
<TABLE>
NAME OF ISSUER                               CLASSCUSIP     FAIR MKT  SHARES O SH/ INVEST   VOTING
                                                              VALUE  PRINCIPAL PRNDISCRETIOAUTHORITY
                                                             <C>      <S>
                                                             $(000)   AMOUNT
AES CORP CONV JR SUB NT                      DEB  00130HAN5    1,738.  1000000PRN   SOLE           0
AETHER SYSTEMS INC CONV SUB NT               DEB  00808VAA3    1,528.  1500000PRN   SOLE           0
AFFYMETRIX INC CONV SUB NT 144A              DEB  00826TAC2       381   500000PRN   SOLE           0
ALLIED CAPITAL CORP                          COM  01903Q108       714    42034 SH   SOLE       42034
ALPHARMA INC CONV SR SUB NT 144A             DEB  020813AC5       958   500000PRN   SOLE           0
ALZA CORP CONV SUB DEB                       DEB  022615AD0    3,107.  2000000PRN   SOLE           0
AMERICA ONLINE CONV ZERO SUB PUT 12/6/04     DEB  02364JAC8    2,240.  4500000PRN   SOLE           0
AMERICAN CAPITAL STRATEGIES LTD              COM  024937104    1,790.    75000 SH   SOLE       75000
AMERICAN GEN CONV PFD MIPS $50 PAR           PFD  02637G200       798    10500 SH   SOLE           0
AMERICAN TOWER CORP CONV PT2/15/07 144A      DEB  029912AE2    1,518.  1500000PRN   SOLE           0
AMFM INC                                     COM  001693100       871    12631 SH   SOLE       12631
APACHE CORP CONV PFD $31PAR                  PFD  037411600    1,552.    30000 SH   SOLE           0
AUTOMATIC DATA PRCSSNG CNVPT 2/20/02 SUB     DEB  053015AC7    2,837.  2000000PRN   SOLE           0
AUTONATION INC                               COM  05329W102       141    20000 SH   SOLE       20000
BBN CORP CONV DEB                            DEB  055283AA3    1,443.  1500000PRN   SOLE           0
BEA SYSTEMS INC CONV SUB NT 144A             DEB  073325AC6    1,553.  1000000PRN   SOLE           0
BOYD GAMING CORP                             COM  103304101       278    50000 SH   SOLE       50000
BURR-BROWN CORP CONV SUB NT 144A             DEB  122574AD8    1,682.  1000000PRN   SOLE           0
CANADIAN NATL RAILWAY CONV PFD $50PAR        PFD  136375409       455    10000 SH   SOLE           0
CHECKFREE HOLDINGS CORP CONV 144A SUB NT     DEB  162816AA0       473   500000PRN   SOLE           0
CHEVRON CORP                                 COM  166751107       917    10817 SH   SOLE       10817
CISCO SYSTEMS INC                            COM  17275R102    1,271.    20000 SH   SOLE       20000
CITIZENS UTILITIES CO CONV PFD$50 PAR        PFD  177351202       377     5600 SH   SOLE           0
CNF TRUST I SER A CONV PFD $50 PAR           PFD  12612V205    1,181.    30000 SH   SOLE           0
COMMSCOPE INC CONV SUB NT                    DEB  203372AB3    1,085.  1000000PRN   SOLE           0
COMMSCOPE INC CONV SUB NT 144A               DEB  203372AA5    1,627.  1500000PRN   SOLE           0
COMSTOCK RESOURCES INC                       COM  205768203       854   106754 SH   SOLE      106754
CONEXANT SYSTEMS INC CONV SUB NT             DEB  207142AB6    1,089.   500000PRN   SOLE           0
CONEXANT SYSTEMS INC CONV SUB NT 144A        DEB  207142AA8    1,089.   500000PRN   SOLE           0
CYPRESS SEMICONDUCTOR CONV SUB NT            DEB  232806AE9    1,146.  1000000PRN   SOLE           0
DEVON ENERGY CORP                            COM  25179M103       999    17786 SH   SOLE       17786
DIAMOND OFFSHORE DRILL CONV PUT 6/6/05       DEB  25271CAB8    9,282. 20016000PRN   SOLE           0
DIAMOND OFFSHORE DRILL CONV SUB NT           DEB  25271CAA0    3,631.  3500000PRN   SOLE           0
DOUBLECLICK INC CONV SUB NT 144A             DEB  258609AA4       533   500000PRN   SOLE           0
E TRADE GROUP INC CONV SUB NT 144A           DEB  269246AA2       901  1000000PRN   SOLE           0
EFFICIENT NETWORKS INC                       COM  282056100       680     9255 SH   SOLE        9255
EFFICIENT NETWORKS INC CONV SUB NT 144A      DEB  282056AA8    1,081.  1500000PRN   SOLE           0
EL PASO ENER CAP TRUST CONV PFD $50 PAR      PFD  283678209    1,287.    20000 SH   SOLE           0
EMC CORP/MASS                                COM  268648102    1,066.    13860 SH   SOLE       13860
EMMIS COMM CONV PFD $50PAR                   PFD  291525202       580    10000 SH   SOLE           0
EXCITE@HOME CONV SUB NT 144A                 DEB  045919AD9    3,144.  4500000PRN   SOLE           0
GETTY IMAGES INC CONV SUB NT 144A            DEB  374276AD5    1,192.  1500000PRN   SOLE           0
HEALTHSOUTH CORP CONV SUB DEB                DEB  421924AF8       392   500000PRN   SOLE           0
HILTON HOTELS CORP CONV SUB NT               DEB  432848AL3    5,530.  7000000PRN   SOLE           0
HUANENG POWER INTL PLC CONV PT 5/21/02       DEB  443304AA8  14,462.5 13000000PRN   SOLE           0
HUMAN GENOME SCIENCES CONV SUB NT 144A       DEB  444903AE8    1,316.  1000000PRN   SOLE           0
IMCLONE SYSTEMS CONV SUB NT 144A             DEB  45245WAA7       863  1000000PRN   SOLE           0
INTERIM SERVICES INC CONV SUB NT             DEB  45868PAA8    1,732.  2250000PRN   SOLE           0
INTERMEDIA COMMUNICATIONS INC                COM  458801107       157  5300.75 SH   SOLE     5300.75
INTERNET CAPITAL GRP INC CONV SR NT          DEB  46059CAA4       326   500000PRN   SOLE           0
INTERPUBLIC GROUP CO INC CONV SUB NT144A     DEB  460690AG5    2,412.  2500000PRN   SOLE           0
JUNIPER NETWORKS INC CONV SUB NT             DEB  48203RAA2    1,088.  1000000PRN   SOLE           0
KERR-MCGEE CORP CONV SUB NT                  DEB  492386AP2    1,726.  1500000PRN   SOLE           0
LATTICE SEMICNDCTR CO CONV BD 144A SUB       DEB  518415AA2    2,692.  1500000PRN   SOLE           0
LERNOUT & HAUSPIE SPEECH PRODUCTS NV         COM  B5628B104    1,550.    35180 SH   SOLE       35180
LORAL SPACE & COMM CONV PFD SER C $50PAR     PFD  G56462149       232    10000 SH   SOLE           0
LSI LOGIC CORP CONV SUB NT                   DEB  502161AE2    2,117.  2000000PRN   SOLE           0
MAGNA INTL INC CONV SUB DEB 144A             DEB  559222AF1       448   500000PRN   SOLE           0
MASCOTECH INC CONV SUB DEB                   DEB  574670AB1    5,258.  7000000PRN   SOLE           0
MCLEODUSA INC CL A                           COM  582266102        25     1254 SH   SOLE        1254
MCN ENERGY GROUP INC                         COM  55267J100       368    17241 SH   SOLE       17241
MEDITRUST CONV DEB REIT                      DEB  58501TAC2    2,450.  2800000PRN   SOLE           0
MERRILL LYNCH & CO CONV BD                   DEB  590188JV1    3,153.  3000000PRN   SOLE           0
MILLENNIUM PHARMACEUTICALS CONV 144A SUB     DEB  599902AA1       718   500000PRN   SOLE           0
MITSUBISHI BK LTD INTL FIN NT EXCH CONV      DEB  55262XAA2    1,028.  1000000PRN   SOLE           0
NATL AUSTRALIA BANK LTD CONV PFD $25PAR      PFD  632525309       634    22400 SH   SOLE           0
NETWORK ASSOC INC CNV SUB PT2/13/03 144A     DEB  640938AA4       878  2500000PRN   SOLE           0
OMNICOM GRP CONV SUB DEB PT01/03/03 144A     DEB  681919AC0    1,413.   500000PRN   SOLE           0
OWENS ILLINOIS INC CONV PFD $50PAR           PFD  690768502       890    40000 SH   SOLE           0
P G & E CORPORATION                          COM  69331C108       194     7880 SH   SOLE        7880
PEGASUS COMMUNICATIONS CORP                  COM  705904100                 75 SH   SOLE          75
PENNEY J C INC                               COM  708160106        68     3712 SH               3712
PEP BYS MANNY MOE&JACK SUB CNV PT9/20/01     DEB  713278AJ8    9,934. 17700000PRN   SOLE           0
POTOMAC ELECTRIC POWER CO CONV DEB           DEB  737679BT6    8,112.  8700000PRN   SOLE           0
PREMIER FARNELL CONV PFD $1.35$25 PAR        PFD  74050U206       390    20000 SH   SOLE           0
PRISON REALTY CORP                           COM  74264N105  13,396.7  4374455 SH   SOLE     4374455
PSINET INC SERIES C CONV PFD $50 PAR         PFD  74437C309       977    20000 SH   SOLE           0
RATIONAL SOFTWARE CORP CONV SUB NT 144A      DEB  75409PAA1    2,972.  2000000PRN   SOLE           0
REDBACK NETWORKS CONV NT 144A                DEB  757209AA9    1,663.  1500000PRN   SOLE           0
ROGERS COMM INC CONV DEB                     DEB  775109AE1    1,960.  2000000PRN   SOLE           0
SAFEGUARD SCIENTIFICS CONV SUB NT            DEB  786449AE8       777   500000PRN   SOLE           0
SAFEGUARD SCIENTIFICS CONV SUB NT 144A       DEB  786449AD0       777   500000PRN   SOLE           0
SBC COMMUNICATIONS INC CONV PFD(TELEMEX)     PFD  78387G202    1,940.    20000 SH   SOLE           0
SCI SYSTEMS INC CONV SUB NT                  DEB  783890AF3    1,462.  1500000PRN   SOLE           0
SEACOR HOLDINGS INC CONV BD SUB NT           DEB  811904AE1       505   500000PRN   SOLE           0
SEAGRAM CO LTD CONV PFD $50PAR               PFD  811850205    1,075.    20000 SH   SOLE           0
SEALED AIR CORP CONV PFD SER A $50 PAR       PFD  81211K209    1,316.    26000 SH   SOLE           0
SEMTECH CORP CONV SUB NT 144A                DEB  816850AB7       518   500000PRN   SOLE           0
SEPRACOR INC CONV NT 144A SUB DEB            DEB  817315AF1    2,002.  1000000PRN   SOLE           0
SEPRACOR INC CONV SUB DEB                    DEB  817315AH7    2,002.  1000000PRN   SOLE           0
SOVEREIGN BANCORP INC                        COM  845905108       381    54312 SH   SOLE       54312
SOVEREIGN CAP TRUST II CONV PFD $50PAR       PFD  845905306    1,470.    30000 SH   SOLE           0
ST PAUL CAPITAL CONV PFD MIPS $ 50 PAR       PFD  792856205       597    10000 SH   SOLE           0
STANDARD MOTOR PRODS CONV SUB DEB            DEB  853666AB1       258   500000PRN   SOLE           0
STATION CASINOS INC                          COM  857689103       400    16000 SH   SOLE       16000
STMICROELECTRONICS NV CONV PT9/22/2004       DEB  861012AB8    3,442.  2000000PRN   SOLE           0
TELEFONOS DE MEXICO S A CONV SR DEB          DEB  879403AD5    1,336.  1000000PRN   SOLE           0
TESORO PETROLEUM CORP CONV PFD $15PAR        PFD  881609408       435    40000 SH   SOLE           0
THERMO FIBERTEK INC SUB CONV BD 144A         DEB  88355WAA3    1,680.  2000000PRN   SOLE           0
THERMO INSTRUMENT SYS CONV SR DEB 144A       DEB  883559AC0    4,443.  5000000PRN   SOLE           0
THERMO INSTRUMENT SYSTEMS CONV               DEB  883559AE6    2,146.  2500000PRN   SOLE           0
THERMOLASE CORP CONV SUB DEB 144A            DEB  883624AA6  10,080.0 12000000PRN   SOLE           0
THERMOQUEST CORPORATION CONV 144A            DEB  883655AA0    2,562.  2500000PRN   SOLE           0
THERMOTREX CORP CONV SUB DEB                 DEB  883666AA7    2,115.  3000000PRN   SOLE           0
TOTAL RENAL CARE HLDGS CONV SUB NT 144A      DEB  89151AAA5    2,021.  3000000PRN   SOLE           0
TOWER AUTOMOTIVE INC CONV SUB NT             DEB  891707AE1       384   500000PRN   SOLE           0
TRIQUINT SEMICONDUCTOR CONV SUB NT 144A      DEB  89674KAA1    1,340.  1500000PRN   SOLE           0
UNITED GLOBALCOM CONV CUM PFD$50PAR          PFD  913247201    1,202.    20000 SH   SOLE           0
VALERO ENERGY CORP-NEW                       COM  91913Y100       451    14225 SH   SOLE       14225
VITESSE SEMICNDTR CORP CONV SUB DEB 144A     DEB  928497AA4    1,846.  2000000PRN   SOLE           0
VODAFONE AIRTOUCH PLC                        COM  92857T107       828    19990 SH   SOLE       19990
WASTE MGMT INC CONV SUB NT                   DEB  94106LAA7       931  1000000PRN   SOLE           0
WILLIAMS CO                                  COM  969457100       495    11875 SH   SOLE       11875
WIND RIVER SYSTEMS INC CONV SUB NT           DEB  973149AC1       616   500000PRN   SOLE           0

</TABLE>


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