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Previous: CMI CORP, 10-Q, 1999-05-14 |
Next: COLEMAN CO INC, PRE 14C, 1999-05-14 |
<PAGE> 1
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: MARCH 31, 1999
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: CNAF
Address: CNA Plaza
Chicago, Il 60685
13F File Number: 28-346
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: Timothy Scott
Title: Assistant General Counsel
Phone: (312) 822 4979
Signature, Place, and Date of Signing:
Timothy Scott
Chicago, Illinois, May 13, 1999
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
List of Other Managers Reporting for this Manager:
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE
ACT OF 1934
<PAGE> 2
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 4
Form 13F Information Table Entry Total: 233
Form 13F Information Table Value Total: 2,980,929 (IN THOUSANDS)
List of Other Included Managers:
<TABLE>
<CAPTION>
No. 13F File Number Name
<S> <C> <C>
1 28-386 CONTINENTAL ASSURANCE COMPANY
2 28-387 CONTINENTAL CASUALTY COMPANY
3 28-217 LOEWS CORPORATION
4 28-172 THE CONTINENTAL CORP.
</TABLE>
<PAGE> 3
<TABLE>
<CAPTION>
FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVSTMT
NAME OF ISSUER TITLE OF CLASS CUSIP (X1000) PRN AMT PRN CALL DSCRETN
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
AMR CORP COM 001765106 2,050 35,000 SH DEFINED
AT & T CORPORATION COM 001957109 3,096 38,785 SH DEFINED
ACX TECHNOLOGIES COM 005123104 0 2 SH DEFINED
ADVANTICA RESTAURANT GROUP COM 00758B109 19,386 3,877,287 SH DEFINED
ADVENT SOFTWARE INC COM 007974108 416 8,314 SH DEFINED
AFFILIATED COMPUTER SB NT CV 4%05 008190AD2 5,296 4,220,000 PRN DEFINED
AGNICO-EAGLE MINES LTD COM 008474108 1,444 275,000 SH DEFINED
AGRIUM INC COM 008916108 50 5,400 SH DEFINED
ALLIANCE FOREST PRODUCTS COM 01859J108 17 1,500 SH DEFINED
ALLIN COMMUNICATIONS CORP COM 019924109 850 340,000 SH DEFINED
ALLTEL CORP COM 020039103 12,497 200,352 SH DEFINED
ALPHARMA INC SB NT CV 5.75%05 020813AB7 6,095 4,060,000 PRN DEFINED
ALT LIVING SVCS SB DB CV 5.25%02 02145KAB3 3,153 3,470,000 PRN DEFINED
ALZA CORP CONV/CALL SUB DB CONV 5%06 022615AD0 4,106 3,540,000 PRN DEFINED
AMERICA WEST HOLDINGS CL B 023657208 406 21,278 SH DEFINED
AMERICAN BUSINESS FINL SVCS COM 02476B106 292 23,850 SH DEFINED
AMERICAN CAPITAL STRATEGIES COM 024937104 2,783 162,500 SH DEFINED
AMERICAN EXPRESS COM 025816109 3,525 30,000 SH DEFINED
AMERICAN HOME PRODUCTS COM 026609107 3,524 54,000 SH DEFINED
AMERICAN INTL GROUP INC COM 026874107 881 7,302 SH DEFINED
ANHEUSER BUSCH CO COM 035229103 3,817 50,100 SH DEFINED
ANTEC CORP SB NT CV 144A 03 03664PAA3 2,576 2,250,000 PRN DEFINED
ANTEC CORP SUB NT CV 4.5%03 03664PAB1 5,313 5,000,000 PRN DEFINED
APPLIED MATERIALS INC. COM 038222105 6,823 110,600 SH DEFINED
ARCHER DANIELS COM 039483102 5,526 376,265 SH DEFINED
ARGUSS HOLDINGS INC COM 040282105 2,004 124,750 SH DEFINED
ASHANTI GOLDFIELDS-SPONS GDR GLOB DEP RCPT 043743202 2,503 286,000 SH DEFINED
ASPECT TELECOMMUNICATIONS COM 045237104 130 19,656 SH DEFINED
AUTOTOTE CORP-CLASS A CL A 053323101 1,210 667,503 SH DEFINED
BCE INC. COM 05534B109 115 2,600 SH DEFINED
BAKER HUGHES INC SR LYON ZERO 08 057224AH0 6,188 8,904,000 PRN DEFINED
BANK UNITED CORP-CL A CL A 065412108 2,861 70,000 SH DEFINED
BARRICK GOLD CORP COM 067901108 25 1,500 SH DEFINED
BAYCORP HOLDINGS LTD COM 072728108 2,004 667,842 SH DEFINED
BUCKHEAD AMERICA CORP COM 11835A105 116 21,579 SH DEFINED
BUILDING ONE SERVICES CORP COM 120114103 2,320 135,000 SH DEFINED
CNA INCOME SHARES INC COM 126119106 1,180 113,053 SH DEFINED
CNA SURETY CORPORATION COM 12612L108 335,317 27,096,347 SH DEFINED
CALIFORNIA COASTAL COMM INC COM 129915104 2,920 449,158 SH DEFINED
CANADIAN IMPERIAL BANK COMM COM 136069101 92 3,600 SH DEFINED
CANADIAN NATL RAILWAY CO COM 136375102 6 112 SH DEFINED
CANADIAN OCCIDENTAL PETE LTD COM 136420106 27 2,200 SH DEFINED
CARDINAL HEALTH INC. COM 14149Y108 5,222 79,125 SH DEFINED
CATELLUS DEVELOPMENT CORP COM 149111106 1,441 107,724 SH DEFINED
CENTRAL GARDEN SUB NT CONV 6%03 153527AC0 3,393 3,770,000 PRN DEFINED
CHECKPOINT SYS SDBCV144A5.25%05 162825AA1 2,737 3,730,000 PRN DEFINED
CISCO SYSTEMS INC COM 17275R102 9,044 82,550 SH DEFINED
CITIGROUP INC COM 172967101 4,088 64,000 SH DEFINED
COCA COLA CO COM 191216100 417 6,800 SH DEFINED
COLUMBIA HCA HEALTHCARE CORP COM 197677107 2,178 115,000 SH DEFINED
COMCAST CORP CL A SPL CL A SPL 200300200 4,091 65,000 SH DEFINED
COMMUNICATION INTELLIGENCE COM 20338K106 1,453 750,000 SH DEFINED
CONCORD EFS COM 206197105 890 32,294 SH DEFINED
CONTL AIRLINES SB NT CV 6.75%06 210795AS9 4,080 3,200,000 PRN DEFINED
COX COMMUNICATIONS INC-CL A CL A 224044107 811 11,000 SH DEFINED
CRESCENT REAL ESTATE EQT CO COM 225756105 2,043 95,000 SH DEFINED
CROWN RESOURCE CORP/COLO COM 228569109 831 501,400 SH DEFINED
CYANOTECH CORP NEW COM NEW 232437202 433 433,486 SH DEFINED
DELL COMPUTER CORP COM 247025109 1,774 43,400 SH DEFINED
DELPHI INFORMATION SYSTEMS COM NEW 247171200 2,592 304,924 SH DEFINED
DONALDSON LUFKIN & JENRETTE COM 257661108 2,093 30,000 SH DEFINED
EMC CORPORATION COM 268648102 7,026 55,000 SH DEFINED
EMC CORP SB NT CV 3.25%02 26865YAA2 14,175 2,500,000 PRN DEFINED
<CAPTION>
OTHER VOTING AUTHORITY
NAME OF ISSUER MANAGERS SOLE SHARED NONE
- --------------------------------------------------------------------------
<S> <C> <C> <C> <C>
AMR CORP 2,3 35,000 - -
AT & T CORPORATION 1,3 38,785 - -
ACX TECHNOLOGIES 3,4 2 - -
ADVANTICA RESTAURANT GROUP 2,3 3,877,287 - -
ADVENT SOFTWARE INC 3,4 8,314 - -
AFFILIATED COMPUTER 1,3 - - -
AGNICO-EAGLE MINES LTD 2,3 275,000 - -
AGRIUM INC 3,4 5,400 - -
ALLIANCE FOREST PRODUCTS 3,4 1,500 - -
ALLIN COMMUNICATIONS CORP 2,3 340,000 - -
ALLTEL CORP 2,3 200,352 - -
ALPHARMA INC 1,3 - - -
ALT LIVING SVCS 1,3 - - -
ALZA CORP CONV/CALL 1,3 - - -
AMERICA WEST HOLDINGS 1,3 21,278 - -
AMERICAN BUSINESS FINL SVCS 2,3 23,850 - -
AMERICAN CAPITAL STRATEGIES 2,3 162,500 - -
AMERICAN EXPRESS 1,3 30,000 - -
AMERICAN HOME PRODUCTS 1,3 54,000 - -
AMERICAN INTL GROUP INC 2,3 7,302 - -
ANHEUSER BUSCH CO 1,3 50,100 - -
ANTEC CORP 2,3 - - -
ANTEC CORP 1,3 - - -
APPLIED MATERIALS INC. 1,3 110,600 - -
ARCHER DANIELS 1,3 376,265 - -
ARGUSS HOLDINGS INC 2,3 124,750 - -
ASHANTI GOLDFIELDS-SPONS GDR 2,3 286,000 - -
ASPECT TELECOMMUNICATIONS 3,4 19,656 - -
AUTOTOTE CORP-CLASS A 2,3 667,503 - -
BCE INC. 3,4 2,600 - -
BAKER HUGHES INC 2,3 - - -
BANK UNITED CORP-CL A 1,3 70,000 - -
BARRICK GOLD CORP 3,4 1,500 - -
BAYCORP HOLDINGS LTD 1,3 667,842 - -
BUCKHEAD AMERICA CORP 2,3 21,579 - -
BUILDING ONE SERVICES CORP 2,3 135,000 - -
CNA INCOME SHARES INC 2,3 113,053 - -
CNA SURETY CORPORATION 2,3 27,096,347 - -
CALIFORNIA COASTAL COMM INC 2,3 449,158 - -
CANADIAN IMPERIAL BANK COMM 3,4 3,600 - -
CANADIAN NATL RAILWAY CO 1,3 112 - -
CANADIAN OCCIDENTAL PETE LTD 3,4 2,200 - -
CARDINAL HEALTH INC. 1,3 79,125 - -
CATELLUS DEVELOPMENT CORP 2,3 107,724 - -
CENTRAL GARDEN 1,3 - - -
CHECKPOINT SYS 1,3 - - -
CISCO SYSTEMS INC 1,3 82,550 - -
CITIGROUP INC 1,3 64,000 - -
COCA COLA CO 3,4 6,800 - -
COLUMBIA HCA HEALTHCARE CORP 2,3 115,000 - -
COMCAST CORP CL A SPL 1,3 65,000 - -
COMMUNICATION INTELLIGENCE 2,3 750,000 - -
CONCORD EFS 3,4 32,294 - -
CONTL AIRLINES 1,3 - - -
COX COMMUNICATIONS INC-CL A 3,4 11,000 - -
CRESCENT REAL ESTATE EQT CO 2,3 95,000 - -
CROWN RESOURCE CORP/COLO 2,3 501,400 - -
CYANOTECH CORP NEW 3,4 433,486 - -
DELL COMPUTER CORP 3,4 43,400 - -
DELPHI INFORMATION SYSTEMS 3,4 304,924 - -
DONALDSON LUFKIN & JENRETTE 2,3 30,000 - -
EMC CORPORATION 1,3 55,000 - -
EMC CORP 2,3 - - -
</TABLE>
<PAGE> 4
<TABLE>
<CAPTION>
FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVSTMT
NAME OF ISSUER TITLE OF CLASS CUSIP (X1000) PRN AMT PRN CALL DSCRETN
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
EAST-WEST BANCORP INC. COM 27579R104 17,874 2,000,000 SH DEFINED
EASTERN UTILITIES ASSOC. COM 277173100 2,893 102,200 SH DEFINED
ELAN CORP PLC -SPONS ADR ADR 284131208 1,395 20,000 SH DEFINED
EMMIS COMMUNICATIONS CORPORATION CL A 291525103 2,250 45,000 SH DEFINED
ENRON CORP COM 293561106 5,885 91,600 SH DEFINED
EQUITABLE COMPANIES INC. COM 29444G107 1,400 20,000 SH DEFINED
EQUITABLE RESOURCES INC COM 294549100 2,085 80,000 SH DEFINED
EQUITY OFFICE PROPERTIES TRUST PFD CV B 5.25% 294741509 3,409 87,000 SH DEFINED
EXIGENT INTERNATIONAL INC COM 302056106 1 125 SH DEFINED
EXIGENT INTERNATIONAL INC-WT WT EXP 013000 302056114 0 200 SH CALL DEFINED
FAMILY GOLF CTRS SB NT CV 5.75%04 30701AAC0 2,309 3,800,000 PRN DEFINED
FIRST ALLIANCE CORP COM 317936102 952 262,500 SH DEFINED
FIRST DATA CORP COM 319963104 3,206 75,000 SH DEFINED
FIRST UNION CORP COM 337358105 2,405 45,000 SH DEFINED
FRIEDMAN BILLINGS RAMSEY-A CL A 358433100 669 100,000 SH DEFINED
GENENTECH INC SUB DEB CV 5%02 368710AA7 4,813 4,040,000 PRN DEFINED
GENERAL COMMUNICATION -CL A CL A 369385109 36 7,913 SH DEFINED
GENERAL ELECTRIC CO COM 369604103 5,354 48,400 SH DEFINED
GETCHELL GOLD CORP COM 374265106 10,713 409,097 SH DEFINED
GILLETTE CO. COM 375766102 5,599 94,200 SH DEFINED
GLAMIS GOLD LTD SV COM 376775102 2,074 1,508,640 SH DEFINED
GOLD STANDARD INC COM PAR $0.001 380724302 96 82,813 SH DEFINED
GOLDCORP INC-CL A CL A SUB VTG 380956102 1,649 275,000 SH DEFINED
GOLDEN STATE BANCORP COM 381197102 2,850 128,100 SH DEFINED
GREENPOINT FINANCIAL CORP COM 395384100 139 4,000 SH DEFINED
GREENSTONE RESOURCES COM 39573W104 370 1,317,900 SH DEFINED
HAYES LEMMERZ INTL INC COM COM 420781106 6,686 284,500 SH DEFINED
HEALTHSOUTH CORP. COM 421924101 2,552 246,000 SH DEFINED
HEWLETT-PACK FIN SBLYON144AZERO17 428236AA1 8,334 15,000,000 PRN DEFINED
HEWLET-PACKARD SB LYON ZERO 17 428236AC7 32,144 57,400,000 PRN DEFINED
HOME DEPOT COM 437076102 2,291 36,800 SH DEFINED
HOMESTAKE MINING CO COM 437614100 1,567 181,639 SH DEFINED
HORIZON GROUP PROPERTIES INC COM 44041U102 3 630 SH DEFINED
HYPERION TELECOMM INC-CL A CL A 44914K306 1,163 95,882 SH DEFINED
HYPERION SOLUTIONS CORP COM 44914M104 84 5,816 SH DEFINED
ILLINOIS TOOL WORKS INC COM 452308109 3,515 56,800 SH DEFINED
IMPERIAL CREDIT COMMERCIAL COM 45272T102 1,444 150,000 SH DEFINED
IMPERIAL OIL LTD-CO. PERTOLINE COM NEW 453038408 63 3,300 SH DEFINED
INCO LTD COM 453258402 17 1,300 SH DEFINED
INHALE THERAPEUTIC SYS INC COM 457191104 351 12,934 SH DEFINED
INTEL CORP COM 458140100 4,363 36,700 SH DEFINED
INTERMEDIA COMMUNICATIONS COM 458801107 2,130 80,000 SH DEFINED
INTERNATIONAL BUSINESS MACHINE COM 459200101 10,086 56,900 SH DEFINED
JPS TEXTILE GROUP INC COM 46624E405 2,358 419,243 SH DEFINED
KANSAS CITY SOUTHERN INDS COM 485170104 1,659 29,100 SH DEFINED
KELLEY OIL & GAS PFD CONV EXCH 487906208 639 127,721 SH DEFINED
KEMPER INTERMEDIATE GOVT TRUST SH BEN TRUST 488413105 1,095 149,800 SH DEFINED
KEYSPAN ENERGY COM 49337K106 8,212 326,860 SH DEFINED
KEYSTONE FINANCIAL INC COM 493482103 33 1,013 SH DEFINED
KROGER COMPANY COM 501044101 2,994 50,000 SH DEFINED
L-3 COMMUNICATIONS CORP COM 502424104 2,484 53,700 SH DEFINED
LAIDLAW INC COM 50730K503 17 3,000 SH DEFINED
ESTEE LAUDER COMPANIES CL A 518439104 47 500 SH DEFINED
LEGATO SYSTEMS INC COM 524651106 1,563 30,280 SH DEFINED
LILLY (ELI) & CO. COM 532457108 1,511 17,800 SH DEFINED
LOWES CO INC COM 548661107 3,025 50,000 SH DEFINED
LUCENT TECHNOLOGIES COM 549463107 767 7,100 SH DEFINED
MCI WORLDCOM INC. COM 55268B106 7,528 85,000 SH DEFINED
MMI COMPANIES COM 553087107 356 23,170 SH DEFINED
MACMILLAN BLOEDEL LTD. COM 554783209 11 1,000 SH DEFINED
MAGNA INT'L INC SUB DEB CV 5%02 559222AE4 398 360,000 PRN DEFINED
MEDIAONE GROUP, INC COM 58440J104 43,540 686,349 SH DEFINED
MEDIAONE GROUP PFD CV SER D 58440J203 141 1,095 SH DEFINED
<CAPTION>
OTHER VOTING AUTHORITY
NAME OF ISSUER MANAGERS SOLE SHARED NONE
- --------------------------------------------------------------------------
<S> <C> <C> <C> <C>
EAST-WEST BANCORP INC. 2,3 2,000,000 - -
EASTERN UTILITIES ASSOC. 2,3 102,200 - -
ELAN CORP PLC -SPONS ADR 1,3 20,000 - -
EMMIS COMMUNICATIONS CORPORATION 1,3 45,000 - -
ENRON CORP 1,3 91,600 - -
EQUITABLE COMPANIES INC. 2,3 20,000 - -
EQUITABLE RESOURCES INC 2,3 80,000 - -
EQUITY OFFICE PROPERTIES TRUST 2,3 - - -
EXIGENT INTERNATIONAL INC 1,3 125 - -
EXIGENT INTERNATIONAL INC-WT 1,3 - - -
FAMILY GOLF CTRS 1,3 - - -
FIRST ALLIANCE CORP 2,3 262,500 - -
FIRST DATA CORP 1,3 75,000 - -
FIRST UNION CORP 1,3 45,000 - -
FRIEDMAN BILLINGS RAMSEY-A 2,3 100,000 - -
GENENTECH INC 2,3 - - -
GENERAL COMMUNICATION -CL A 1,3 7,913 - -
GENERAL ELECTRIC CO 1,3 48,400 - -
GETCHELL GOLD CORP 2,3 409,097 - -
GILLETTE CO. 1,3 94,200 - -
GLAMIS GOLD LTD SV 2,3 1,508,640 - -
GOLD STANDARD INC 2,3 82,813 - -
GOLDCORP INC-CL A 2,3 275,000 - -
GOLDEN STATE BANCORP 2,3 128,100 - -
GREENPOINT FINANCIAL CORP 2,3 4,000 - -
GREENSTONE RESOURCES 2,3 1,317,900 - -
HAYES LEMMERZ INTL INC COM 2,3 284,500 - -
HEALTHSOUTH CORP. 2,3 246,000 - -
HEWLETT-PACK FIN 2,3 - - -
HEWLET-PACKARD 2,3 - - -
HOME DEPOT 3,4 36,800 - -
HOMESTAKE MINING CO 2,3 181,639 - -
HORIZON GROUP PROPERTIES INC 2,3 630 - -
HYPERION TELECOMM INC-CL A 2,3 95,882 - -
HYPERION SOLUTIONS CORP 3,4 5,816 - -
ILLINOIS TOOL WORKS INC 1,3 56,800 - -
IMPERIAL CREDIT COMMERCIAL 2,3 150,000 - -
IMPERIAL OIL LTD-CO. PERTOLINE 3,4 3,300 - -
INCO LTD 3,4 1,300 - -
INHALE THERAPEUTIC SYS INC 3,4 12,934 - -
INTEL CORP 3,4 36,700 - -
INTERMEDIA COMMUNICATIONS 1,3 80,000 - -
INTERNATIONAL BUSINESS MACHINE 2,3 56,900 - -
JPS TEXTILE GROUP INC 2,3 419,243 - -
KANSAS CITY SOUTHERN INDS 3,4 29,100 - -
KELLEY OIL & GAS 2,3 - - -
KEMPER INTERMEDIATE GOVT TRUST 2,3 - - -
KEYSPAN ENERGY 2,3 326,860 - -
KEYSTONE FINANCIAL INC 3,4 1,013 - -
KROGER COMPANY 1,3 50,000 - -
L-3 COMMUNICATIONS CORP 1,3 53,700 - -
LAIDLAW INC 3,4 3,000 - -
ESTEE LAUDER COMPANIES 2,3 500 - -
LEGATO SYSTEMS INC 3,4 30,280 - -
LILLY (ELI) & CO. 1,3 17,800 - -
LOWES CO INC 1,3 50,000 - -
LUCENT TECHNOLOGIES 3,4 7,100 - -
MCI WORLDCOM INC. 1,3 85,000 - -
MMI COMPANIES 3,4 23,170 - -
MACMILLAN BLOEDEL LTD. 3,4 1,000 - -
MAGNA INT'L INC 1,3 - - -
MEDIAONE GROUP, INC 2,3 686,349 - -
MEDIAONE GROUP 3,4 - - -
</TABLE>
<PAGE> 5
<TABLE>
<CAPTION>
FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVSTMT
NAME OF ISSUER TITLE OF CLASS CUSIP (X1000) PRN AMT PRN CALL DSCRETN
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
MEDTRONIC INC COM 585055106 4,305 60,000 SH DEFINED
MERIDIAN GOLD INC COM 589975101 1,528 265,000 SH DEFINED
MERRILL LYNCH & CO INC COM 590188108 850 9,600 SH DEFINED
METAMOR WORLDWIDE INC. SB NT CV 2.94%04 59133PAA8 756 1,161,000 PRN DEFINED
FRED MEYER INC COM 592907109 5,599 95,100 SH DEFINED
MICROSOFT CORP COM 594918104 3,800 42,400 SH DEFINED
MICROCELL TELECOMMUNICATIONS CL B NON VTG 59501T304 1,179 144,037 SH DEFINED
MIRAGE RESORTS INC COM 60462E104 1,466 69,000 SH DEFINED
MIRAMAR MINING CORP. SV COM 60466E100 2,008 2,677,700 SH DEFINED
MOLEX - CLASS A NON-VOTING CL A 608554200 3,648 140,995 SH DEFINED
MONSANTO CO COM 611662107 3,836 83,500 SH DEFINED
MORGAN STANLEY ASIA-PACIF FD COM 61744U106 1,519 189,900 SH DEFINED
MORGAN STANLEY INDIA INVT FD COM 61745C105 1,163 127,400 SH DEFINED
MORRISON KNUDSEN CORP-WTS WT EXP 031103 61844A117 0 35 SH CALL DEFINED
MOTOROLA INC COM 620076109 3,223 44,000 SH DEFINED
NABORS INDUSTRIES INC CONV/CALL SUB NOTE SUB NT CONV 5%06 629568AA4 3,807 3,380,000 PRN DEFINED
NATL AUSTRALIABK CAPS UTS EXCHBL 632525309 7,750 247,500 SH DEFINED
NATL DATA CORP SUB NT CONV 5%03 635621AA3 4,993 4,750,000 PRN DEFINED
NATL SEMICONDUCT SBNTCV144A6.5%02 637640AA1 1,406 1,715,000 PRN DEFINED
NETOPIA INC COM 64114K104 130 15,957 SH DEFINED
NEXTEL COMMNS, INC CL A CL A 65332V103 207 5,661 SH DEFINED
NORTH FORK BANCORPORATION COM 659424105 377 17,850 SH DEFINED
NOVA CHEMICALS CORP. COM 66977W109 12 718 SH DEFINED
OAK INDS-CALLED SB NT CV 144A 07 671400AJ8 4,274 4,200,000 PRN DEFINED
OAK INDUSTRIES SB NT CV4.875%08 671400AL3 1,730 1,700,000 PRN DEFINED
OMNICARE INC SUB DEB CV 5%06 681904AD0 3,175 3,920,000 PRN DEFINED
ON COMMAND CORPORATION COM 682160106 3,216 352,480 SH DEFINED
ON COMMAND CORPORATION- CLASS B WTS WT B EX 100703 682160122 308 123,130 SH CALL DEFINED
ORBITAL SCIENCES SB NT CV 5%02 685564AC0 1,478 1,250,000 PRN DEFINED
OWENS-ILLINOIS INC COM NEW 690768403 7,250 290,000 SH DEFINED
OWENS-ILL INC PFD CONV $.01 690768502 3,596 98,700 SH DEFINED
PAYCHEX INC COM 704326107 688 14,500 SH DEFINED
PEPSICO INCORPORATED COM 713448108 4,076 104,000 SH DEFINED
PERSONNEL GROUP SB NT CV 5.75%04 715338AE9 2,447 3,290,000 PRN DEFINED
PETSMART INC SB NT CV 144A 04 716768AA4 3,185 2,850,000 PRN DEFINED
PETSMART INC SB NT CV 6.75%04 716768AB2 1,944 1,740,000 PRN DEFINED
PFIZER INC COM 717081103 8,159 58,800 SH DEFINED
PIER 1 IMPORTS SB NT CV 5.75%03 720279AF5 5,113 4,500,000 PRN DEFINED
PLACER DOME INC COM 725906101 18 1,600 SH DEFINED
PLATINUM TECH SB NT CV 6.75%01 72764TAA9 3,418 1,850,000 PRN DEFINED
POLICY MANAGEMENT SYSTEMS COEP COM 731108106 46,520 1,519,024 SH DEFINED
POTASH CORP OF SASKATCHEWAN COM 73755L107 910 17,000 SH DEFINED
POTOMAC ELECTRIC POWER COM 737679100 14,886 642,000 SH DEFINED
PRICE (T. ROWE) ASSOCIATES COM 741477103 804 23,400 SH DEFINED
PRIME RETAIL INC COM 741570105 110 12,600 SH DEFINED
PRIME HOSPITALITY CORP COM 741917108 63 6,375 SH DEFINED
PROCTER & GAMBLE CO COM 742718109 6,082 62,100 SH DEFINED
PROGRESSIVE CORP COM 743315103 1,306 9,100 SH DEFINED
QUINTILES TRANS SB NT CV 4.25%00 748767AC4 5,438 5,100,000 PRN DEFINED
RAYTHEON CO. COM CL B 755111408 3,224 55,000 SH DEFINED
REYNOLDS METALS CO COM 761763101 5,556 115,000 SH DEFINED
ROBERT HALF INTL INC COM 770323103 932 28,400 SH DEFINED
SAFEWAY INC COM NEW 786514208 5,224 101,800 SH DEFINED
SCHERING PLOUGH COM 806605101 7,467 135,000 SH DEFINED
SCHLUMBERGER LIMITED COM 806857108 4,129 68,600 SH DEFINED
SCHWAB(CHARLES) CORP COM 808513105 1,846 19,200 SH DEFINED
SEMPRA ENERGY COM 816851109 5,372 280,000 SH DEFINED
SEPRACOR INC SB DB CV144A7%06 817315AF1 6,071 5,200,000 PRN DEFINED
SODEXHO MARRIOTT SERVICES COM 833793102 677 30,700 SH DEFINED
SPRINT CORP COM FON GROUP 852061100 4,507 45,928 SH DEFINED
SPRINT CORP (PCS GROUP) PCS COM SER 2 852061506 32 714 SH DEFINED
STILLWATER MINING COMPANY COM 86074Q102 71 2,700 SH DEFINED
STILLWATER MINING COMPANY SBNTCV 144A 7%03 86074QAA0 373 250,000 PRN DEFINED
<CAPTION>
OTHER VOTING AUTHORITY
NAME OF ISSUER MANAGERS SOLE SHARED NONE
- --------------------------------------------------------------------------
<S> <C> <C> <C> <C>
MEDTRONIC INC 1,3 60,000 - -
MERIDIAN GOLD INC 2,3 265,000 - -
MERRILL LYNCH & CO INC 3,4 9,600 - -
METAMOR WORLDWIDE INC. 2,3 - - -
FRED MEYER INC 1,3 95,100 - -
MICROSOFT CORP 3,4 42,400 - -
MICROCELL TELECOMMUNICATIONS 2,3 - - -
MIRAGE RESORTS INC 3,4 69,000 - -
MIRAMAR MINING CORP. SV 2,3 2,677,700 - -
MOLEX - CLASS A NON-VOTING 1,3 140,995 - -
MONSANTO CO 1,3 83,500 - -
MORGAN STANLEY ASIA-PACIF FD 2,3 189,900 - -
MORGAN STANLEY INDIA INVT FD 2,3 127,400 - -
MORRISON KNUDSEN CORP-WTS 3,4 - - -
MOTOROLA INC 1,3 44,000 - -
NABORS INDUSTRIES INC CONV/CALL SUB NOTE 1,3 - - -
NATL AUSTRALIABK 2,3 247,500 - -
NATL DATA CORP 1,3 - - -
NATL SEMICONDUCT 2,3 - - -
NETOPIA INC 3,4 15,957 - -
NEXTEL COMMNS, INC CL A 1,3 5,661 - -
NORTH FORK BANCORPORATION 2,3 17,850 - -
NOVA CHEMICALS CORP. 3,4 718 - -
OAK INDS-CALLED 1,3 - - -
OAK INDUSTRIES 1,3 - - -
OMNICARE INC 1,3 - - -
ON COMMAND CORPORATION 2,3 352,480 - -
ON COMMAND CORPORATION- CLASS B WTS 2,3 - - -
ORBITAL SCIENCES 1,3 - - -
OWENS-ILLINOIS INC 2,3 290,000 - -
OWENS-ILL INC 2,3 - - -
PAYCHEX INC 3,4 14,500 - -
PEPSICO INCORPORATED 1,3 104,000 - -
PERSONNEL GROUP 1,3 - - -
PETSMART INC 1,3 - - -
PETSMART INC 1,3 - - -
PFIZER INC 1,3 58,800 - -
PIER 1 IMPORTS 1,3 - - -
PLACER DOME INC 3,4 1,600 - -
PLATINUM TECH 1,3 - - -
POLICY MANAGEMENT SYSTEMS COEP 2,3 1,519,024 - -
POTASH CORP OF SASKATCHEWAN 2,3 17,000 - -
POTOMAC ELECTRIC POWER 2,3 642,000 - -
PRICE (T. ROWE) ASSOCIATES 3,4 23,400 - -
PRIME RETAIL INC 2,3 12,600 - -
PRIME HOSPITALITY CORP 2,3 6,375 - -
PROCTER & GAMBLE CO 1,3 62,100 - -
PROGRESSIVE CORP 3,4 9,100 - -
QUINTILES TRANS 1,3 - - -
RAYTHEON CO. COM 1,3 55,000 - -
REYNOLDS METALS CO 2,3 115,000 - -
ROBERT HALF INTL INC 3,4 28,400 - -
SAFEWAY INC 3,4 101,800 - -
SCHERING PLOUGH 1,3 135,000 - -
SCHLUMBERGER LIMITED 1,3 68,600 - -
SCHWAB(CHARLES) CORP 3,4 19,200 - -
SEMPRA ENERGY 2,3 280,000 - -
SEPRACOR INC 1,3 - - -
SODEXHO MARRIOTT SERVICES 3,4 30,700 - -
SPRINT CORP 1,3 45,928 - -
SPRINT CORP (PCS GROUP) 3,4 714 - -
STILLWATER MINING COMPANY 2,3 2,700 - -
STILLWATER MINING COMPANY 1,3 - - -
</TABLE>
<PAGE> 6
<TABLE>
<CAPTION>
FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVSTMT
NAME OF ISSUER TITLE OF CLASS CUSIP (X1000) PRN AMT PRN CALL DSCRETN
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
STORAGE TECHNOLOGY /NEW/COM COM PAR $0.10 862111200 77 2,754 SH DEFINED
SUN MICROSYSTEMS INC COM 866810104 2,751 22,000 SH DEFINED
SUNBEAM CORP SRSDCV ZRO144A18 867071AA0 10,858 101,000,000 PRN DEFINED
SUNRISE ASSISTED SUB NT CV 5.5%02 86768KAC0 6,196 4,650,000 PRN DEFINED
SYLVAN INC COM 871371100 39 3,925 SH DEFINED
TRW INC COM 872649108 1,251 27,500 SH DEFINED
TANDY CORP COM 875382103 2,233 35,000 SH DEFINED
TELLABS INC COM 879664100 3,226 33,000 SH DEFINED
TEXACO INC COM 881694103 9,080 160,000 SH DEFINED
TEXAS INSTRUMENTS INCORPORATED COM 882508104 3,722 37,500 SH DEFINED
TEXAS MICRO INC. COM 88255T103 463 121,495 SH DEFINED
THOUSAND TRAILS, INC COM 885502104 699 159,660 SH DEFINED
TIME WARNER INC COM 887315109 1,834 25,900 SH DEFINED
TORONTO DOMINION BK NEW CDN$ COM NEW 891160509 119 2,600 SH DEFINED
TOSCO CORP COM NEW 891490302 504 20,307 SH DEFINED
TOWER AUTOMOTIVE SB NT CV 5%04 891707AE1 3,770 4,000,000 PRN DEFINED
TRANSCANADA PIPELINES LTD. COM 893526103 46 3,592 SH DEFINED
TRANSWITCH CORP COM 894065101 2,183 48,243 SH DEFINED
TRIBUNE CO NEW COM 896047107 7,002 107,000 SH DEFINED
TYCO INTERNATIONAL LTD COM 902124106 3,301 46,000 SH DEFINED
UGLY DUCKLING CORP COM 903512101 277 50,000 SH DEFINED
UNIGENE LABORATORIES INC COM 904753100 1,936 2,000,000 SH DEFINED
US AIR GROUP INC COM 911905107 608 12,462 SH DEFINED
US WEST INC COM 91273H101 16 293 SH DEFINED
UNITED TECHNOLOGIES CORP. COM 913017109 3,142 23,200 SH DEFINED
UNOCAL CORP COM 915289102 6,014 163,100 SH DEFINED
WANG LABORATORIES INC COM 93369N109 245 12,504 SH DEFINED
WARNER LAMBERT CO COM 934488107 855 12,900 SH DEFINED
WASTE MANAGEMENT INC SUB NT CONV 4%02 94106LAA7 4,967 4,300,000 PRN DEFINED
WASTE MANAGEMENT INC COM 94106L109 18,859 425,000 SH DEFINED
WAVEPHORE INC COM 943567107 179 22,241 SH DEFINED
WELLS FARGO COMPANY COM 949746101 3,156 90,000 SH DEFINED
WILLIAMS COS INC COM 969457100 91 2,312 SH DEFINED
WILLIAMS-SONOMA INC COM 969904101 141 5,000 SH DEFINED
WIND RIVER SYSTEM SUB NT CONV 5%02 973149AC1 4,045 4,610,000 PRN DEFINED
XTRA CORP COM 984138107 616 16,089 SH DEFINED
ZAMBA CORPORATION COM 988881108 83 37,560 SH DEFINED
GLOBAL CROSSING LTD COM G3921A100 1,853,477 40,075,170 SH DEFINED
LASALLE RE HOLDINGS ORD G5383Q101 24,754 1,678,254 SH DEFINED
LORAL SPACE & COMMUNICATIONS COM G56462107 2,837 196,500 SH DEFINED
SANTA FE INTERNATIONAL CORP ORD G7805C108 2,149 115,000 SH DEFINED
ENGEL GENERAL DEVELOPERS ORD M40515104 240 120,000 SH DEFINED
TECNOMATIX TECHNOLOGIES LTD ORD M8743P105 13 1,000 SH DEFINED
TEEKAY SHIPPING CORP COM V89564104 4,295 260,300 SH DEFINED
<CAPTION>
OTHER VOTING AUTHORITY
NAME OF ISSUER MANAGERS SOLE SHARED NONE
- --------------------------------------------------------------------------
<S> <C> <C> <C> <C>
STORAGE TECHNOLOGY /NEW/COM 1,3 2,754 - -
SUN MICROSYSTEMS INC 1,3 22,000 - -
SUNBEAM CORP 2,3 - - -
SUNRISE ASSISTED 1,3 - - -
SYLVAN INC 1,3 3,925 - -
TRW INC 2,3 27,500 - -
TANDY CORP 1,3 35,000 - -
TELLABS INC 1,3 33,000 - -
TEXACO INC 1,3 160,000 - -
TEXAS INSTRUMENTS INCORPORATED 1,3 37,500 - -
TEXAS MICRO INC. 3,4 121,495 - -
THOUSAND TRAILS, INC 2,3 159,660 - -
TIME WARNER INC 3,4 25,900 - -
TORONTO DOMINION BK NEW CDN$ 3,4 2,600 - -
TOSCO CORP 1,3 20,307 - -
TOWER AUTOMOTIVE 1,3 - - -
TRANSCANADA PIPELINES LTD. 3,4 3,592 - -
TRANSWITCH CORP 3,4 48,243 - -
TRIBUNE CO NEW 2,3 107,000 - -
TYCO INTERNATIONAL LTD 1,3 46,000 - -
UGLY DUCKLING CORP 2,3 50,000 - -
UNIGENE LABORATORIES INC 2,3 2,000,000 - -
US AIR GROUP INC 2,3 12,462 - -
US WEST INC 3,4 293 - -
UNITED TECHNOLOGIES CORP. 1,3 23,200 - -
UNOCAL CORP 2,3 163,100 - -
WANG LABORATORIES INC 1,3 12,504 - -
WARNER LAMBERT CO 3,4 12,900 - -
WASTE MANAGEMENT INC 2,3 - - -
WASTE MANAGEMENT INC 1,3 425,000 - -
WAVEPHORE INC 2,3 22,241 - -
WELLS FARGO COMPANY 1,3 90,000 - -
WILLIAMS COS INC 3,4 2,312 - -
WILLIAMS-SONOMA INC 1,3 5,000 - -
WIND RIVER SYSTEM 1,3 - - -
XTRA CORP 1,3 16,089 - -
ZAMBA CORPORATION 3,4 37,560 - -
GLOBAL CROSSING LTD 2,3 40,075,170 - -
LASALLE RE HOLDINGS 2,3 1,678,254 - -
LORAL SPACE & COMMUNICATIONS 1,3 196,500 - -
SANTA FE INTERNATIONAL CORP 1,3 115,000 - -
ENGEL GENERAL DEVELOPERS 2,3 120,000 - -
TECNOMATIX TECHNOLOGIES LTD 2,3 1,000 - -
TEEKAY SHIPPING CORP 2,3 260,300 - -
</TABLE>
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