UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year Ended: September 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: BBT Fund, L.P.
Address: 201 Main Street, Suite 3200
Fort Worth, Texas 76102
Form 13F File Number: 28-5275
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 and 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 Report Manager:
Name: W.R. Cotham
Title: Vice President of General Partner of General Partner
Phone: 817/390-8400
Signature, Place, and Date of Signing:
_/s/ W.R. Cotham____ Fort Worth, Texas November 13, 2000
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
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: 211
Form 13F Information Table Value Total: $1,031,086 (thousands)
List of Other Included Managers:
NONE
<PAGE>
<TABLE>
FORM 13F INFORMATION TABLE
<CAPTION>
TITLE VALUE SHARES SH/ PUT INVSTMNT OTHR VOTING AUTHORITY
OF / /
NAME OF ISSUER CLASS CUSIP (X$10 PRN PRN CLL DISCRETN MGRS SOLE SHRD NONE
00) AMT
<S> <C>
AT&T CORP COM 001957109 9121 310500 SH Sole 310500
AT&T CORP OPT 001957109 4406 150000 PRN PUT Sole
AT&T CORP OPT 001957406 1044 50000 PRN CAL Sole
L
ASM LITHOGRAPHY 00207EAB6 4415 4000 PRN Sole 4000
HOLDINGS
AT & T CDA INC DEPS 00207Q202 2288 75000 Sole 75000
RCPT
AT & T CDA INC OPT 00207Q202 3355 110000 PRN CAL Sole
L
AXA FINL INC COM 002451102 6011 118000 Sole 118000
ABERCROMBIE & CL A 002896207 1111 58300 SH Sole 58300
FITCH CO
ABERCROMBIE & OPT 002896207 953 50000 PRN PUT Sole
FITCH CO
ABRAXAS PETE CORP COM 003830106 219 60460 SH Sole 60460
ACUSON CORP COM 005113105 1524 67000 SH Sole 67000
AFFYMETRIX INC SB NT 00826TAC2 2950 5000 PRN Sole 5000
CV 1
ALLEGHENY ENERGY COM 017361106 9852 258000 SH Sole 258000
INC
ALLETE COM 018522102 830 37500 SH Sole 37500
ALPHARMA INC SR SB 020813AD3 1956 1000 PRN Sole 1000
NT C
ANALOG DEVICES 032654AC9 8766 8500 PRN Sole 8500
INC.
ANNTAYLOR STORES COM 036115103 377 9800 SH Sole 9800
CORP
AT HOME CORP SUB 045919AF4 5081 7500 PRN Sole 7500
NT
CV4
AVIS GROUP HLDGS CL A 053790101 3191 107700 SH Sole 107700
INC
AXA SPON- 054536107 647 10000 PRN Sole 10000
SORED
AXENT COM 05459C108 341 15800 SH Sole 15800
TECHNOLOGIES INC
BEAR STEARNS CO. OPT 073902108 6300 100000 PRN CAL Sole
L
BEAR STEARNS CO. OPT 073902108 6300 100000 PRN PUT Sole
BESTFOODS COM 08658U101 33320 458000 SH Sole 458000
BROCADE OPT 111621108 7080 30000 PRN CAL Sole
COMMUNICATIONS L
SYS INC
CLECO CORP NEW COM 12561W105 8181 175000 SH Sole 175000
CMS ENERGY CORP COM 125896100 5371 199400 SH Sole 199400
CAROLINA POWER & OPT 12614C106 2084 50000 PRN PUT Sole
LIGHT
CVS CORP COM 126650100 3103 67000 SH Sole 67000
CVS CORPORATION OPT 126650100 4631 100000 PRN PUT Sole
CALPINE CORP COM 131347106 9967 145500 SH Sole 145500
CARNIVAL CORP COM 143658102 739 30000 SH Sole 30000
CHECKFREE CORP COM 162813109 2216 2500 SH Sole 2500
NEW
CHECKFREE 162816AA0 4431 5000 PRN Sole 5000
CORPORATION
CINCINNATI FINL COM 172062101 746 21000 SH Sole 21000
CORP
CINCINNATI FINL OPT 172062101 888 25000 PRN CAL Sole
CORP L
CINCINNATI FINL OPT 17262101 888 25000 PRN PUT Sole
CORP
CINERGY CORP COM 172474108 10745 325000 SH Sole 325000
CISCO SYS INC COM 17275R102 1105 20000 SH Sole 20000
CLEAR CHANNEL COM 184502102 2 42 SH Sole 42
COMMUNICATIONS
CLEAR CHANNEL OPT 184502102 2260 40000 PRN CAL Sole
COMMUNICATIONS L
CLEAR CHANNEL OPT 184502102 1695 30000 PRN PUT Sole
COMMUNICATIONS
CLEARNET CL A 184902104 7990 180000 PRN Sole 180000
COMMUNICATIONS NON-V
COCA COLA CO COM 191216100 3765 68300 SH Sole 68300
COCA COLA CO OPT 191216100 5513 100000 PRN CAL Sole
L
COCA COLA CO OPT 191216100 11025 200000 PRN PUT Sole
COMCAST CORP CL A 200300200 1621 39600 PRN Sole 39600
SPL
COMCAST OPT 200300200 409 10000 PRN CAL Sole
CORPORATION L
COMCAST OPT 200300200 2047 50000 PRN PUT Sole
CORPORATION
CONECTIV INC COM 206829103 3575 200000 SH Sole 200000
CONEXANT SYSTEMS SB NT 207142AF7 3613 5000 PRN Sole 5000
INC CON
COSTCO WHOLESALE OPT 22160K105 349 10000 PRN Sole
COX CL A 224044107 964 25200 SH Sole 25200
COMMUNICATIONS
INC NEW
COX OPT 224044107 1913 50000 PRN CAL Sole
COMMUNICATIONS L
INC NEW
DTE ENERGY CO COM 233331107 10626 277800 SH Sole 277800
DELL COMPUTER OPT 247025109 1541 50000 PRN CAL Sole
CORP L
DELL COMPUTER OPT 247025109 1541 50000 PRN PUT Sole
CORP
DIAMOND OFFSHORE DEB 25271CAB8 12484 25000 PRN Sole 25000
DRILLING INC ZRO
CV
DIGITAL IS INC COM 25385N101 71 4700 SH Sole 4700
DEL
DIGITAL IS INC OPT 2538N101 1125 75000 PRN PUT Sole
DEL
EGL INC COM 268484102 545 18000 SH Sole 18000
E TRADE GROUP INC SUB 269246AA2 6938 7500 PRN Sole 7500
NT CV
E TRADE GROUP INC SUB 269246AB0 4625 5000 PRN Sole 5000
NT CV
ECHOSTAR SUB 278762AB5 5300 4000 PRN Sole 4000
COMMUNICATIONS NT CV
CORP
EDISON INTL COM 281020107 1352 70000 SH Sole 70000
EFFICIENT SB NT 282056AA8 8031 12500 PRN Sole 12500
NETWORKS INC CV 1
EL PASO ELEC CO COM 283677854 3443 250000 SH Sole 250000
NEW
ENERGY EAST CORP COM 29266M109 7919 350000 SH Sole 350000
ENRON CORP COM 293561106 613 7000 SH Sole 7000
ENRON CORP OPT 293561106 4381 50000 PRN CAL Sole
L
ENRON CORP OPT 293561106 4381 50000 PRN PUT Sole
ENTERCOM CL A 293639100 524 17500 SH Sole 17500
COMMUNICATIONS
CORP
ENTERGY CORP NEW COM 29364G103 5401 145000 SH Sole 145000
EXXON MOBIL CORP OPT 30231G102 4028 45200 PRN PUT Sole
FPL GROUP INC COM 302571104 4537 69000 SH Sole 69000
FAMILY DLR STORES COM 307000109 1540 80000 SH Sole 80000
INC
FEDERAL NATL MTG OPT 313586109 17875 250000 PRN PUT Sole
ASSN
FLEETWOOD CAPITAL COM 339072407 903 39905 SH Sole 39905
TRUST CV
FLORIDA PROGRESS COM 341109106 16051 303200 SH Sole 303200
CORP
FLOWERS INDS INC COM 343496105 1014 52000 SH Sole 52000
FORD MTR CO DEL COM 345370860 2481 98000 SH Sole 98000
PAR
$0
FORD MTR CO DEL OPT 345370860 1013 40000 PRN CAL Sole
L
FORD MTR CO DEL OPT 345370860 2481 98000 PRN PUT Sole
FRIEDE GOLDMAN SR SB 358430AA4 5875 10000 PRN Sole 10000
HALTER INC NTCV
FURNITURE BRADS COM 360921100 582 35000 SH Sole 35000
INTL INC
GPU INC COM 36225X100 16219 500000 SH Sole 500000
GAP INC DEL OPT 364760108 604 30000 PRN PUT Sole
GILAT SATELLITE 375255AC0 5644 7500 PRN Sole 7500
NETWORKS LTD
HNC SOFTWARE INC COM 40425P107 13834 169100 SH Sole 169100
HEALTHSOUTH CORP COM 421924101 110 13700 SH Sole 13700
HEALTHSOUTH CORP SB DB 421924AF8 6740 8000 PRN Sole 8000
CV 3
INCO LTD CL 453258709 2096 300000 PRN Sole 300000
VEN
SH
INFINITY CL A 45662S102 5112 154900 SH Sole 154900
BROADCASTING CP
NEW
SPHERION 4586PAA8 14583 21250 PRN Sole 21250
CORPORATION
INTERNATIONAL SUB 460254AD7 4556 5000 PRN Sole 5000
RECIFIER CORP NT CV
INTERNET CAP COM 46059C06 262 15000 SH Sole 15000
GROUP INC
INVITROGEN CORP COM 46185R100 854 12000 SH Sole 12000
INVITROGEN CORP OPT 46185R100 25185 354100 PRN CAL Sole
L
INVITROGEN CORP OPT 46185R100 12212 171700 PRN PUT Sole
IPALCO COM 462613100 5719 250000 SH Sole 250000
ENTERPRISES INC
JONES APPAREL COM 480074103 1060 40000 SH Sole 40000
GROUP INC
JUNIPER NETWORKS SB NT 48203RAA2 3797 2500 PRN Sole 2500
INC CV 4
KEEBLER FOODS CO COM 487256109 1260 30000 SH Sole 30000
KINDER MORGAN INC OPT 494559101 409 10000 PRN PUT Sole
KANS
KROGER CO COM 501044101 790 35000 SH Sole 35000
LAMAR ADVERTISING NT CV 512815AF8 7070 7000 PRN Sole 7000
CO
LENNAR CORP SR DB 526057AA2 12141 25000 PRN Sole 25000
CV Z
LODGIAN INC COM 54021P106 3380 265800 SH Sole 265800
LOWES COS INC COM 548661107 2468 55000 SH Sole 55000
LOWES COS INC OPT 548661107 898 20000 PRN PUT Sole
MASCOTECH INC COM 574670105 4815 290700 SH Sole 290700
MCDONALDS CORP OPT 580135101 3019 100000 PRN CAL Sole
L
METRICOM INC COM 591596101 1661 40000 SH Sole 40000
MICROSOFT CORP COM 594918104 4825 80000 SH Sole 80000
MICROSOFT CORP OPT 594918104 3016 50000 PRN CAL Sole
L
MICROSOFT CORP OPT 594918104 24125 400000 PRN PUT Sole
MICRON TECHNOLOGY COM 595112103 6210 135000 SH Sole 135000
INC
MOLEX INC CL A 608554200 1243 30000 SH Sole 30000
MONTANA POWER CO COM 612085100 394 11800 SH Sole 11800
MONTANA POWER CO OPT 612085100 5006 150000 PRN CAL Sole
L
MONY GROUP INC OPT 615337102 1376 34500 PRN CAL Sole
L
MONY GROUP INC OPT 615337102 1396 35000 PRN PUT Sole
MORGAN J P &CO COM 616880100 817 5000 SH Sole 5000
INC
NUI CORP COM 629430109 1434 47500 SH Sole 47500
NABISCO HLDGS CL A 629526104 14034 261100 SH Sole 261100
CORP
NABORS INDUSTRIES 629568AC0 13975 20000 PRN Sole 20000
INC.
NATIONAL FUEL GAS COM 636180101 4205 75000 SH Sole 75000
CO N J
NORTHWEST AIRLS CL A 667280101 246 10000 SH Sole 10000
CORP
P-COM INC SB NT 693262AC1 5317 7907 PRN Sole 7907
CV 4
PECO ENERGY CO COM 693304107 22778 376100 SH Sole 376100
PG&E CORP COM 69331C108 7982 330000 SH Sole 330000
PG&E CORPORATION OPT 69331C108 1209 50000 PRN CAL Sole
L
PG&E CORPORATION OPT 69331C108 1209 50000 PRN PUT Sole
PNC FINL SVCS OPT 693475105 4875 75000 PRN CAL Sole
GROUP INC L
PPL CORP COM 69351T106 12679 303700 SH Sole 303700
PACIFIC SUNWEAR COM 694873100 375 20000 SH Sole 20000
CALIF INC
PAINE WEBER GROUP COM 695629105 7494 110000 SH Sole 110000
INC
PEOPLES ENERGY COM 711030106 4172 125000 SH Sole 125000
CORP
PEPSICO INC COM 713448108 690 15000 SH Sole 15000
PEPSICO INC OPT 713448108 6900 150000 PRN PUT Sole
PERKINELMER INC CONV 714046AA7 9214 13500 PRN Sole 13500
ZERO
PERSONNEL GROUP SB NT 715338AE9 5165 10595 PRN Sole 10595
AMER INC CV 5
PHILIP MORRIS COS COM 718154107 1178 40000 SH Sole 40000
INC
PHILIP MORRIS COS OPT 718154107 2944 100000 PRN PUT Sole
INC
PINNACLE HLDGS 72346NAC5 8219 12500 PRN Sole 12500
PRIDE INTL INC SB DB 741932AB3 4519 10000 PRN Sole 10000
CV Z
PSINET INC COM 74437C101 1434 149000 SH Sole 149000
PSINET INC OPT 74437C101 674 70000 PRN CAL Sole
L
PUBLIC SVC COM 744573106 7365 164800 SH Sole 164800
ENTERPRISE GROUP
QUESTAR CORP COM 748356102 2781 100000 SH Sole 100000
QWEST OPT 749121109 23070 480000 PRN CAL Sole
COMMUNICATIONS L
INTL INC
RADISYS CORP SUB 750459AA7 2431 2500 PRN Sole 2500
NT CV
READ-RITE CORP COM 755246105 953 84700 SH Sole 84700
READ-RITE CORP SUB 755246AB1 20849 8200 PRN Sole 8200
NT
CON
REDBACK NETWORKS SB NT 757209AA9 2772 2500 PRN Sole 2500
INC CV 1
RES-CARE INC COM 760943100 156 34100 SH Sole 34100
RIO ALGOM LTD COM 766889109 4741 250000 SH Sole 250000
SDL INC OPT 784076101 9589 31000 PRN CAL Sole
L
SALTON INC COM 795757103 607 18800 SH Sole 18800
SANMINA CORP SD CV 800907AC1 18900 45000 PRN Sole 45000
ZRO
SCHERING PLOUGH OPT 806605101 2325 50000 PRN CAL Sole
CORP L
SCHWAB CHARLES COM 808513105 1944 54750 SH Sole 54750
CORP NEW
SCHWAB CHARLES OPT 808513105 3905 110000 PRN PUT Sole
CORP NEW
SEAGATE COM 811804103 22874 331500 SH Sole 331500
TECHNOLOGY
SEGATE TECHNOLOGY OPT 811804103 3657 53000 PRN CAL Sole
L
SEGATE TECHNOLOGY OPT 811804103 1725 25000 PRN PUT Sole
SEAGRAM LTD COM 811850106 11137 193900 SH Sole 193900
SEMPRA ENERGY COM 816851109 624 30000 SH Sole 30000
SHOPKO STORES INC COM 824911101 415 40000 SH Sole 40000
SOLECTRON CORP SR 834182AK3 15173 22500 PRN Sole 22500
LYON
ZE
SPORTS AUTH INC SB NT 849176AC6 9775 11500 PRN Sole 11500
CV 5
SPRINT CORP COM 852061100 440 15000 SH Sole 15000
FON
GR
STANDARD MTR SB DB 85366AB1 795 1500 PRN Sole 1500
PRODS INC CV 6
SUNBEAM CORP SRSDC 867071AA0 2375 25000 PRN Sole 25000
V ZRO
SUNBEAM CORP SR SD 867071AD4 3325 35000 PRN Sole 35000
CV Z
SUNRISE ASSISTED SUB 86768KAC0 5490 6000 PRN Sole 6000
LIVING INC NT CV
TARGET CORP OPT 87612E106 1025 40000 PRN PUT Sole
TENET HEALTHCARE COM 88033G100 764 21000 SH Sole 21000
CORP
TERRA NETWORKS OPT 88100W103 1709 46500 PRN CAL Sole
L
TEXAS INSTRS INC OPT 882508104 2359 50000 PRN CAL Sole
L
TIME WARNER INC COM 887315109 673 8600 SH Sole 8600
TIME WARNER OPT 887315109 2348 30000 PRN PUT Sole
TYCO INTL LTD NEW COM 902124106 623 12000 SH Sole 12000
TYCO INTL OPT 902124106 14006 270000 PRN CAL Sole
L
TYCO OPT 902124106 2594 50000 PRN PUT Sole
INTERNATIONAL
UNICOM CORP OPT 904911104 2248 40000 PRN CAL Sole
L
UNICOM CORP OPT 904911104 2866 51000 PRN PUT Sole
UTILICORP UTD INC COM 918005109 10350 400000 SH Sole 400000
VENATOR GROUP INC COM 922944103 557 45000 SH Sole 45000
VENATOR GROUP INC OPT 922944103 371 30000 PRN PUT Sole
VITESSE OPT 928497106 5336 60000 PRN CAL Sole
SEMICONDUCTOR L
CORP
VITESSE SB DB 928497AA4 15600 15000 PRN Sole 15000
SEMICONDUCTOR CV 1
CORP
VODAFONE AIRTOUCH OPT 92857W100 1850 50000 PRN CAL Sole
PUBLIC LTD L
VODAFONE GROUP OPT 92857W100 1850 50000 PRN PUT Sole
PLC
VODAFONE GROUP SPON- 92857W100 111 3000 PRN Sole 3000
PLC NEW SORED
VOICESTREAM COM 928615103 9366 80700 SH Sole 80700
WIRELESS CORP
WAL MART STORES COM 931142103 3119 64800 SH Sole 64800
INC
WAL MART STORES OPT 931142103 8181 170000 PRN PUT Sole
INC
WASHINGTON GAS LT COM 938837101 1344 50000 SH Sole 50000
CO
WEBMETHODS INC OPT 94768C108 2303 20000 PRN CAL Sole
L
WHOLE FOODS MKT SB DB 966837AC0 15153 38000 PRN Sole 38000
INC CV Z
WILLIAMS CL A 969455104 1010 50500 SH Sole 50500
COMMUNICATIONS
GROUP
WILLIAMS COS INC COM 969457100 5032 119100 SH Sole 119100
DEL
XCEL ENERGY INC COM 98389B100 9625 350000 SH Sole 350000
YOUNG & RUBICAM OPT 987425105 3638 73500 PRN PUT Sole
INC
ZALE CORP NEWC COM 988858106 1460 45000 SH Sole 45000
ZIFF-DAVIS INC COM 989511100 2894 356200 SH Sole 356200
ZD
ZIFF-DAVIS INC COM 989511209 592 42100 SH Sole 42100
ZDNET
GLOBAL CROSSING OPT G3921A100 1817 58600 SH Sole 58600
LTD
CHECK POINT OPT M22465104 3938 25000 PRN PUT Sole
SOFTWARE TECH LTD
CHECK POINT ORD M22465104 3859 24500 PRN Sole 24500
SOFTWARE TECH LTD
</TABLE>
