UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: September 30, 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: Aon Advisors, Inc.
Address: 123 North Wacker Drive
Chicago, IL 60606
Name of additional disclosed party:
Name: Aon Corporation
Address: 123 North Wacker Drive
Chicago, IL 60606
Form 13F File Number: 28-2005
28-2401
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: Michael A. Conway
Title: President
Phone: (312) 701-3910
Signature, Place, and Date of Signing:
/s/ Michael A. Conway Chicago, IL November 3, 1999
- ---------------------------- ----------------------- ----------------
[Signature] [City, State] [Date]
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager
are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all
holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this
reporting manager are reported in this report and a portion are reported by
other reporting manager(s).)
<PAGE>
Form 13F SUMMARY PAGE
Report Summary
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 458
Form 13F Information Table Value Total: $845,057
(thousands)
List of Other Included Managers
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
[If there are no entries in this list, state "NONE" and omit the column
headings and list entries]
No. Form 13F File Number Name
<PAGE>
<TABLE>
<CAPTION>
FORM 13F INFORMATION TABLE
<S> <C> <C> <C> <C> <C> <C> <C>
NAME OF ISSUER TITLE OF CLASS CUSIP MARKET VALUE PAR SHARES ITEM:6 ITEM:7 ITEM:8
ACM GOVT OPPOR FUND INC. Common Stock 000918102 30,940,750 4,304,800 X X
AMB PROPERTY CORP Common Stock 00163T109 438,581 20,700 X X
AMFM, INC Common Stock 001693100 5,500,949 90,551 X X
AMLI RESIDENTIAL PROPERTIES Common Stock 001735109 3,627,645 172,745 X X
AT&T CORP. Common Stock 001957109 3,875,390 89,089 X X
AT&T CORP. Common Stock 001957208 1,119,375 30,000 X X
ABBOTT LABORATORIES Common Stock 002824100 2,568,125 70,000 X X
ACME COMMUNICATIONS INC Common Stock 004631107 155,000 5,000 X X
AIR PRODUCTS & CHEMICALS, INC. Common Stock 009158106 1,901,250 65,000 X X
ALCOA, INC. Common Stock 013817101 3,103,125 50,000 X X
ALEXANDRIA REAL EST EQUITIES Common Stock 015271109 97,144 3,300 X X
ALLIED CAPITAL CORP Common Stock 01903Q108 1,570,625 70,000 X X
ALLIED WASTE INDUSTRIES INC Common Stock 019589308 876,773 75,018 X X
ALLTEL CORP. Common Stock 020039103 1,759,375 25,000 X X
AMERICA ONLINE INC Common Stock 02364J104 1,560,938 15,000 X X
AMERICAN INDUSTRIAL PROPS REIT Common Stock 026791202 66,563 5,000 X X
AMERICAN INTERNATIONAL GROUP Common Stock 026874107 6,403,853 73,660 X X
AMERICAN MOBILE SATELITE Common Stock 02755R111 17,580 586 X X
AMERITECH CORP. Common Stock 030954101 1,501,875 22,500 X X
AMGEN, INC. Common Stock 031162100 5,868,000 72,000 X X
ANHEUSER-BUSCH COMPANIES INC Common Stock 035229103 1,751,563 25,000 X X
AON FUNDS Common Stock 036912301 9,803,294 949,932 X X
AON FUNDS Common Stock 036912889 108,899,090 10,944,632 X X
APACHE CORP. Common Stock 037411105 863,750 20,000 X X
APARTMENT INVESTMENT & MGMT CO Common Stock 03748R101 1,335,422 34,913 X X
APTARGROUP, INC. Common Stock 038336103 401,250 15,000 X X
ARCHSTONE COMMUNITIES TRUST Common Stock 039581103 664,193 33,630 X X
ARDEN REALTY GROUP INC. Common Stock 039793104 326,250 15,000 X X
ASSOCIATED ESTATES REALTY CORP Common Stock 045604105 49,337 5,370 X X
ASSOCIATES FIRST CAPITAL CORP. Common Stock 046008108 774,592 21,516 X X
ATLANTIC RICHFIELD COMPANY Common Stock 048825103 1,772,500 20,000 X X
AVALONBAY COMMUNITIES INC. Common Stock 053484101 527,163 15,562 X X
BP AMOCO PLC Common Stock 055622104 4,986,562 45,000 X X
BRE PROPERTIES, INC. Common Stock 05564E106 255,653 10,680 X X
BWAY CORPORATION Common Stock 056039100 5 1 X X
BANKAMERICA CORP Common Stock 060505104 1,670,625 30,000 X X
BECTON DICKINSON & CO Common Stock 075887109 2,020,500 72,000 X X
BEDFORD PROPERTY INVESTORS Common Stock 076446301 91,463 5,420 X X
BERKSHIRE REALTY COMPANY Common Stock 084710102 106,680 8,890 X X
BOLDER TECHNOLOGIES CORP. Common Stock 097519102 98,090 9,809 X X
BOSTON PROPERTIES INC Common Stock 101121101 469,519 15,300 X X
BOYKIN LODGING Common Stock 103430104 55,650 4,200 X X
BRADLEY REAL ESTATES INC Common Stock 104580105 105,656 5,750 X X
BRANDYWINE REALTY TRUST Common Stock 105368203 147,144 9,055 X X
BRISTOL MYERS SQUIBB Common Stock 110122108 1,417,500 21,000 X X
11601 HOLDING CORP. Common Stock 11601H$01 14 2 X X
BURLINGTON NORTHERN/SANTA FE Common Stock 12189T104 1,897,500 69,000 X X
BURNHAM PACIFIC PPTY INC. Common Stock 12232C108 81,437 7,710 X X
CBL & ASSOC. PROPERTIES Common Stock 124830100 389,167 15,925 X X
CBS CORP Common Stock 12490K107 1,850,000 40,000 X X
CSG SYSTEM INTL INC Common Stock 126349109 1,299,059 47,400 X X
CSX CORPORATION Common Stock 126408103 3,898,500 92,000 X X
CVS CORPORATION Common Stock 126650100 1,836,563 45,000 X X
CABOT INDUSTRIAL TRUST Common Stock 127072106 188,650 9,800 X X
CAMDEN PROPERTY TRUST Common Stock 133131102 268,589 9,994 X X
CANWEST GLOBAL COMM. CORP. Common Stock 138906300 812,865 65,356 X X
CAPITAL AUTOMOTIVE REIT Common Stock 139733109 64,350 5,200 X X
CAPTEC NET LEASE REALTY INC Common Stock 140724105 23,144 2,300 X X
CARAUSTAR INDUSTRIES INC Common Stock 140909102 2,295,000 90,000 X X
CARDINAL HEALTH INC. Common Stock 14149Y108 817,500 15,000 X X
CARRAMERICA REALTY CORP Common Stock 144418100 355,717 16,215 X X
CENTER TRUST, INC. Common Stock 151845104 65,971 5,930 X X
CENTERPOINT PROPERTIES TRUST Common Stock 151895109 1,055,869 31,285 X X
CENTOCOR Common Stock 152342101 2,108,250 36,000 X X
CENTURYTEL, INC. Common Stock 156700106 1,076,563 26,500 X X
CERIDIAN CORPORATION Common Stock 15677T106 497,500 20,000 X X
CHATEAU COMMUNITIES INC Common Stock 161726104 176,540 6,790 X X
CHELSEA GCA REALTY INC Common Stock 163262108 120,017 3,795 X X
CHEVRON CORP Common Stock 166751107 2,307,500 26,000 X X
CINCINNATI BELL INC Common Stock 171870108 680,313 35,000 X X
CINAR CORP CL B SUB VTG Common Stock 171905300 756,250 25,000 X X
CISCO SYSTEMS Common Stock 17275R102 4,113,750 60,000 X X
CITIGROUP INC. Common Stock 172967101 1,320,000 30,000 X X
CITRIX SYSTEMS INC Common Stock 177376100 743,250 12,000 X X
CLEAR CHANNEL COMMUNICATIONS Common Stock 184502102 8,392,946 105,076 X X
CLOROX CO Common Stock 189054109 478,125 12,500 X X
COINMACH LAUNDRY CORP Common Stock 19259L101 531,375 54,500 X X
COLONIAL PROPERTIES TRUST Common Stock 195872106 901,743 33,710 X X
COLUMBIA BANKING SYSTEM INC Common Stock 197236102 499,226 38,036 X X
COMFORT SYSTEMS USA INC Common Stock 199908104 708,750 60,000 X X
COMMERCIAL NET LEASE REALTY Common Stock 202218103 78,784 7,415 X X
COMPAQ COMPUTER Common Stock 204493100 2,859,467 125,004 X X
COMVERSE TECHNOLOGY,INC Common Stock 205862402 943,125 10,000 X X
CORNERSTONE PROPANE PARTNERS Common Stock 218916104 431,800 27,200 X X
CORNERSTONE PROPERTIES Common Stock 21922H103 471,225 30,900 X X
CORNERSTONE REALTY INCOME TR Common Stock 21922V102 92,700 10,300 X X
CORPORATE OFFICE PROPERTIES Common Stock 22002T108 29,494 3,900 X X
CORRECTIONAL PROPERTIES TRUST Common Stock 22025E104 24,863 1,800 X X
COUSINS PROPERTIES INC. Common Stock 222795106 262,676 7,740 X X
CRESENT REAL ESTATE EQUITIES Common Stock 225756105 731,070 40,615 X X
CROWN AMERN REALTY TRUST Common Stock 228186102 40,331 6,265 X X
DRS TECHNOLOGIES, INC. Common Stock 23330X100 170,000 17,000 X X
DTE ENERGY CORPORATION Common Stock 233331107 18,188 500 X X
DANA CORP Common Stock 235811106 615,718 16,585 X X
DAYTON HUDSON CORP Common Stock 239753106 3,603,750 60,000 X X
DEAN FOODS CO Common Stock 242361103 1,960,313 45,000 X X
DEERE & CO Common Stock 244199105 3,288,438 85,000 X X
DELL COMPUTER CORP Common Stock 247025109 5,017,500 120,000 X X
DELPHI AUTO SYSTEMS CORP Common Stock 247126105 1,908,514 118,818 X X
DEVELOPERS DIVERSIFIED REALTY Common Stock 251591103 1,552,600 110,900 X X
DIGITAL RIVER INC Common Stock 25388B104 652,500 30,000 X X
THE WALT DISNEY CO. Common Stock 254687106 1,820,000 70,000 X X
DUPONT (E.I.) DENEMOURS & CO Common Stock 263534109 5,142,500 85,000 X X
DUKES-WEEKS REALTY CORP. Common Stock 264411505 544,500 27,923 X X
EMC CORP./MASS Common Stock 268648102 1,895,435 26,556 X X
EASTGROUP PROPERTIES Common Stock 277276101 70,597 3,895 X X
EASTMAN CHEMICAL Common Stock 277432100 2,591,875 65,000 X X
EMMIS BROADCASTING CORP Common Stock 291525103 1,189,125 18,000 X X
ENTERTAINMENT PROPERTIES TRUST Common Stock 29380T105 52,650 3,600 X X
EQUITY INNS INC. Common Stock 294703103 76,713 9,025 X X
EQUITY OFFICE PROPERTIES TRUST Common Stock 294741103 9,485,080 407,960 X X
EQUITY ONE INC Common Stock 294752100 27,788 2,600 X X
EQUITY RESIDENTIAL PROPERTIES Common Stock 29476L107 6,288,408 148,399 X X
ESSEX PROPERTY TRUST INC Common Stock 297178105 146,912 4,205 X X
EXCEL LEGACY CORP. Common Stock 300665106 491,194 117,300 X X
FTD.COM Common Stock 30265F103 8,063 1,000 X X
FEDERAL NATIONAL MORTGAGE ASSN Common Stock 313586109 1,253,750 20,000 X X
FEDERAL REALTY INV. TRUST Common Stock 313747206 202,256 9,660 X X
FELCOR SUITE HOTELS INC. Common Stock 31430F101 286,825 16,390 X X
FIBERMARK INC Common Stock 315646109 1,185,750 93,000 X X
FIRST DATA CORPORATION Common Stock 319963104 2,969,328 67,677 X X
FIRST INDUSTRIAL REALTY TRUST Common Stock 32054K103 2,227,624 90,005 X X
FIRST UNION CORP Common Stock 337358105 2,671,875 75,000 X X
FIRST WASHINGTON REALTY TRUST Common Stock 337489504 569,100 27,100 X X
FIRST FEDERAL SAVINGS BANK Common Stock 33761K105 1,084,335 54,903 X X
FORD MOTOR COMPANY Common Stock 345370100 6,783,750 135,000 X X
FORT JAMES CORPORATION Common Stock 347471104 800,625 30,000 X X
FOUNDRY NETWORKS IN Common Stock 35063R100 882,000 7,000 X X
FOX ENTERTAINMENT GRP INC-A Common Stock 35138T107 2,000,938 95,000 X X
FRANCHISE FINANCE CORP OF AMER Common Stock 351807102 604,478 25,860 X X
FREESHOP.COM Common Stock 356873109 115,000 10,000 X X
GPU INC. Common Stock 36225X100 1,631,250 50,000 X X
GABLES RESIDENTIAL TRUST Common Stock 362418105 436,200 18,175 X X
GENERAL ELECTRIC Common Stock 369604103 6,842,479 57,712 X X
GENERAL GROWTH PROPERTIES INC. Common Stock 370021107 696,308 22,105 X X
GENERAL MOTORS CORP Common Stock 370442105 11,322,456 179,900 X X
GEORGIA-PACIFIC CORP Common Stock 373298108 727,875 18,000 X X
GLENBOROUGH REALTY TRUST Common Stock 37803P105 120,368 7,295 X X
GLIMCHER REALTY TRUST Common Stock 379302102 82,984 5,650 X X
GOLF TRUST OF AMERICA, INC. Common Stock 38168B103 39,500 2,000 X X
GREAT LAKES REIT Common Stock 390752103 64,769 4,300 X X
GROVE PROPERTY TRUST Common Stock 399613108 27,694 2,100 X X
HRPT PROPERTIES, INC Common Stock 40426W101 2,320,875 206,300 X X
HARTMARX Common Stock 417119104 437,200 109,300 X X
HEALTH CARE PPTYS INVEST INC Common Stock 421915109 504,000 19,200 X X
HEALTH CARE REIT, INC. Common Stock 42217K106 1,427,500 71,375 X X
JACK HENRY & ASSOCIATES Common Stock 426281101 258,563 7,000 X X
HEWLETT PACKARD COMPANY Common Stock 428236103 4,537,500 50,000 X X
HIGHWOOD PROPERTIES INC Common Stock 431284108 386,055 14,920 X X
HOLLINGER INTL INC Common Stock 435569108 32,775 2,760 X X
HOME DEPOT INC Common Stock 437076102 1,356,991 19,774 X X
HOME PROPERTIES OF NY INC Common Stock 437306103 117,425 4,400 X X
HONEYWELL, INC. Common Stock 438506107 2,226,250 20,000 X X
HOSPITALITY PROPERTIES TRUST Common Stock 44106M102 400,817 18,065 X X
HOST MARRIOTT CORP Common Stock 44107P104 967,670 101,860 X X
IRT PROPERTY COMPANY Common Stock 450058102 71,820 7,980 X X
ILLINOIS TOOL WORKS INC. Common Stock 452308109 4,846,563 65,000 X X
INGERSOLL RAND CO. Common Stock 456866102 4,669,688 85,000 X X
INNKEEPERS USA TRUST Common Stock 4576J0104 111,803 13,450 X X
INTEL CORPORATION Common Stock 458140100 5,945,000 80,000 X X
INT'L BUSINESS MACHINES Common Stock 459200101 1,573,000 13,000 X X
INTERNATIONAL FLV & FRAGRANCE Common Stock 459506101 1,207,500 35,000 X X
INVESTORS REAL ESTATE TRUST Common Stock 461730103 37,950 4,400 X X
JDN REALTY CORP Common Stock 465917102 162,053 7,905 X X
JP REALTY INC Common Stock 46624A106 72,096 4,210 X X
JAMESON INNS Common Stock 470457102 21,174 2,455 X X
JOHNSON & JOHNSON Common Stock 478160104 2,482,095 27,016 X X
KELLSTROM INDUSTRIES Common Stock 488035106 322,783 33,000 X X
KILROY REALTY CORP Common Stock 49427F108 1,087,938 51,500 X X
KIMCO REALTY CORP. Common Stock 49446R109 952,738 26,650 X X
KNIGHT TRANSPORTATION INC Common Stock 499064103 72,500 5,000 X X
KOGER EQUITY INC. Common Stock 500228101 102,400 6,400 X X
KONOVER PROPERTY TRUST, INC Common Stock 50047R100 46,875 7,500 X X
KRANZCO REALTY TRUST Common Stock 50076E103 25,616 2,530 X X
KROGER Common Stock 501044101 3,405,744 154,368 X X
LTC HEALTHCARE, INC. Common Stock 50217R104 8,152 4,348 X X
L-3 COMMUNICATIONS HLDGS INC Common Stock 502424104 819,175 21,700 X X
LANDSTAR SYSTEM INC Common Stock 515098101 243,250 7,000 X X
LASALLE HOTEL PROPERTIES Common Stock 517942108 49,163 3,800 X X
LEXFORD RESIDENTIAL TRUST Common Stock 528933104 45,281 2,300 X X
LEXINGTON CORP PPTY TRUST Common Stock 529043101 45,253 4,045 X X
LIBBEY INC Common Stock 529898108 1,419,000 48,000 X X
LIBERTY PROPERTY TRUST Common Stock 531172104 362,660 15,985 X X
ELI LILLY & CO. Common Stock 532457108 1,283,750 20,000 X X
LITTELFUSE, INC. Common Stock 537008104 1,379,500 62,000 X X
LUCENT TECHNOLOGIES, INC. Common Stock 549463107 3,892,500 60,000 X X
Luminant Worldwide Common Stock 550260103 1,537,500 50,000 X X
LYONDELL PETROCHEMICAL Common Stock 552078107 133,750 10,000 X X
MCI WORLDCOM INC Common Stock 55268B106 1,078,125 15,000 X X
MMI COMPANIES INC. Common Stock 553087107 1,216,250 111,200 X X
THE MACERICH COMPANY Common Stock 554382101 189,047 8,175 X X
MACK-CALI REALTY CORP. Common Stock 554489104 2,710,610 101,095 X X
MANUFACTURED HOME COMMUNITIES Common Stock 564682102 145,276 6,215 X X
MARSH & MCLENNAN COS Common Stock 571748102 82,200 1,200 X X
MCDERMOTT INTERNATIONAL Common Stock 580037109 405,000 20,000 X X
MCGRAW-HILL INC Common Stock 580645109 967,500 20,000 X X
MEADOWCRAFT INC Common Stock 583204102 670,781 67,500 X X
MEDITRUST CORP Common Stock 58501T306 229,500 27,000 X X
MERCK & CO. Common Stock 589331107 6,773,943 104,516 X X
MERISTAR HOSPITALITY CORP Common Stock 58984Y103 176,551 11,483 X X
MESA LABORATORIES INC. Common Stock 59064R109 170,625 39,000 X X
METALS USA INC Common Stock 591324108 407,500 40,000 X X
MICROSOFT CORP. Common Stock 594918104 1,811,250 20,000 X X
MID-AMERICA APARTMENT COMM. Common Stock 59522J103 133,193 6,195 X X
MID ATLANTIC REALTY TRUST Common Stock 595232109 36,531 3,500 X X
MILLS CORPORATION Common Stock 601148109 102,333 5,745 X X
MOBIL OIL CORP. Common Stock 607059102 6,045,000 60,000 X X
MORGAN STANLEY DEAN WITTER & C Common Stock 617446448 891,929 10,001 X X
MOTOROLA INC. Common Stock 620076109 1,760,000 20,000 X X
MUSICMAKER,COM INC Common Stock 62757C108 326,906 31,700 X X
MYPOINTSCOM INC Common Stock 62855T102 71,250 5,000 X X
NATIONAL GOLF PROPERTIES INC. Common Stock 63623G109 67,388 2,995 X X
NATIONAL HEALTH INVESTORS INC. Common Stock 63633D104 348,475 21,200 X X
NETOBJECTS INC Common Stock 64114L102 390,938 69,500 X X
NEW PLAN EXCEL REALTY, INC Common Stock 648053106 1,452,111 81,522 X X
NEWELL RUBBERMAID, INC Common Stock 651229106 1,303,864 45,650 X X
NEWPARK RESOURCES INC. Common Stock 651718504 776,426 100,184 X X
NEWS CORP LTD-SPONS ADR Common Stock 652487703 2,132,813 75,000 X X
NOKIA CORPORATION Common Stock 654902204 539,250 6,000 X X
NORFOLK SOUTHERN CORP Common Stock 655844108 2,819,950 115,100 X X
NUCOR CORP Common Stock 670346105 4,048,125 85,000 X X
OCULAR SCIENCES INC Common Stock 675744106 484,375 25,000 X X
OMEGA HEALTHCARE INVESTORS Common Stock 681936100 1,491,000 71,000 X X
OMEGA WORLDWIDE INC Common Stock 68210B108 115,799 28,286 X X
OMNIPOINT CORPORATION Common Stock 68212D102 415,487 7,436 X X
OUTDOOR SYSTEMS, INC. Common Stock 690057104 2,145,000 60,000 X X
OWENS-ILLINOIS Common Stock 690768403 495,313 25,000 X X
PPG INDS INC. Common Stock 693506107 900,000 15,000 X X
PS BUSINESS PARKS INC Common Stock 69360J107 145,600 5,600 X X
PACIFIC GULF PROPERTIES Common Stock 694396102 96,099 4,820 X X
PACIFIC HORIZON CORP BOND FUND Common Stock 694407644 69,796 4,384 X X
PANAMSAT CORP. - NEW Common Stock 697933109 361,250 10,000 X X
PAN PACIFIC RETAIL PPTY Common Stock 69806L104 85,313 5,000 X X
PARKWAY PROPERTIES INC. Common Stock 70159Q104 80,625 2,500 X X
PATRIOT AMERICAN HOSPITALITY Common Stock 703352203 65,625 25,000 X X
PENNEY J C COMPANY, INC. Common Stock 708160106 1,207,500 35,000 X X
PENN REAL ESTATE INVEST TST Common Stock 709102107 61,438 3,255 X X
PEPSICO INC Common Stock 713448108 2,135,000 70,000 X X
PETROLEUM GEO-SVCS -SPON ADR Common Stock 716597109 953,125 50,000 X X
PHARMACIA & UPJOHN Common Stock 716941109 3,473,750 70,000 X X
PFIZER, INC. Common Stock 717081103 4,305,000 120,000 X X
PHILIPS INTL REALTY Common Stock 718333107 29,925 1,900 X X
PITNEY BOWES INC Common Stock 724479100 914,063 15,000 X X
BANCPONCE Common Stock 733174106 10,623,705 382,836 X X
POST PROPERTIES Common Stock 737464107 1,588,028 40,395 X X
POWERWAVE TECHNOLOGIES INC Common Stock 739363109 1,543,002 32,000 X X
PREMIER PARKS, INC Common Stock 740540208 870,000 30,000 X X
PRENTISS PROPERTIES TRUST Common Stock 740706106 199,688 9,000 X X
PRICELINECOM INCORPORATED Common Stock 741503106 70,950 1,100 X X
PRIME RETAIL Common Stock 741570105 77,353 10,489 X X
PRIME GROUP REALTY TRUST Common Stock 74158J103 54,000 3,600 X X
PRIMARK CORP Common Stock 741903108 853,125 30,000 X X
PRISON REALTY TRUST Common Stock 74264N105 256,925 23,900 X X
PROCTOR & GAMBLE CO Common Stock 742718109 1,875,000 20,000 X X
PUBLIC STORAGE INC. Common Stock 74460D109 826,117 32,799 X X
QUANTA SERVICES INC Common Stock 74762E102 2,814,000 96,000 X X
QUOTESMITH.COM INC Common Stock 749117107 42,750 6,000 X X
RFS HOTEL INVESTORS INC. Common Stock 74955J108 69,288 6,025 X X
RADIANT SYSTEMS INC Common Stock 75025N102 485,625 30,000 X X
RAILWORKS CORP Common Stock 750789109 972,000 108,000 X X
RAMCO-GERSHENSON PROPERTIES Common Stock 751452202 26,888 1,800 X X
REALTY INCOME CORP Common Stock 756109104 149,156 6,450 X X
RECKSON SERVICE INDUSTRIES Common Stock 75621J109 50,600 3,200 X X
RECKSON ASSOC REALTY CORP Common Stock 75621K106 201,257 9,670 X X
RECKSON ASSOC REALTY CORP Common Stock 75621K304 102,276 4,675 X X
REGENCY REALTY CORP Common Stock 758939102 9,464,028 450,668 X X
RELIANCE GROUP HOLDINGS Common Stock 759464100 4 1 X X
REYNOLDS METALS COMPANY Common Stock 761763101 1,026,375 17,000 X X
ROUSE CO Common Stock 779273101 397,900 17,300 X X
ROYAL DUTCH PETROLEUM CO. Common Stock 780257804 2,480,625 42,000 X X
SBC COMMUNICATIONS INC. Common Stock 78387G103 1,276,563 25,000 X X
SL GREEN REALTY CORP Common Stock 78440X101 118,900 5,800 X X
ST PAUL BANCORP INC Common Stock 792848103 160,125 7,000 X X
ST PAUL COS Common Stock 792860108 3,283,519 119,401 X X
SAKS INCORPORATED Common Stock 79377W108 987,188 65,000 X X
SAUL CENTERS INC Common Stock 804395101 50,321 3,195 X X
SAVILLE SYSTEM IRELAND-ADR Common Stock 805174109 1,743,171 118,684 X X
SCHERING PLOUGH CORP Common Stock 806605101 5,619,249 128,808 X X
SCHOLASTIC CORP Common Stock 807066105 1,250,000 25,000 X X
SECURITY CAPITAL GROUP Common Stock 81413P105 695 1 X X
SECURITY CAPITAL GROUP Common Stock 81413P204 7,166,031 487,900 X X
SHELL TRANSPORT - TRADING ADR Common Stock 822703609 3,867,500 85,000 X X
SHERWIN-WILLIAMS CO Common Stock 824348106 753,750 36,000 X X
SHURGARD STORAGE Common Stock 82567D104 172,384 6,965 X X
SIERRA PACIFIC RESOURCES Common Stock 826428104 397,697 17,874 X X
SIGMA ALDRICH Common Stock 826552101 2,540,000 80,000 X X
SILICON VALLEY BANCSHARES Common Stock 827064106 337,750 14,000 X X
SIMON PROPERTY GROUP, INC. Common Stock 828806109 937,775 41,795 X X
SIPEX CORPORATION Common Stock 829909100 257,625 18,000 X X
SMITH-GARDNER & ASSOCIATES Common Stock 832059109 234,375 30,000 X X
SMITH CHARLES E RESIDENTIAL Common Stock 832197107 160,510 4,695 X X
SOVRAN SELF STORAGE INC Common Stock 84610H108 68,705 3,020 X X
SPIEKER PROPERTIES, INC. Common Stock 848497103 3,983,859 114,850 X X
SPLASH TECHNOLOGY HOLDINGS Common Stock 848623104 183,750 30,000 X X
STATE STREET CORP Common Stock 857477103 2,261,875 35,000 X X
STORAGE USA Common Stock 861907103 183,288 6,665 X X
SUMMIT PROPERTIES INC Common Stock 866239106 137,868 6,915 X X
SUN COMMUNITIES INC Common Stock 866674104 1,082,301 32,735 X X
SUN MICROSYSTEMS, INC. Common Stock 866810104 10,253,064 110,248 X X
SUNGARD DATA SYSTEMS Common Stock 867363103 1,052,500 40,000 X X
SUNSTONE HOTEL INVESTORS INC Common Stock 867933103 78,269 8,945 X X
SUPERIOR ENERGY SERVICES INC Common Stock 868157108 315,625 50,000 X X
TJX COMPANIES Common Stock 872540109 308,688 11,000 X X
TALISMAN ENERGY INC Common Stock 87425E103 748,438 25,000 X X
TANGER FACTORY Common Stock 875465106 177,938 7,800 X X
TAUBMAN CENTERS INC. Common Stock 876664103 146,970 12,780 X X
TEKELEC Common Stock 879101103 276,250 20,000 X X
TELEHUB COMMUNICATIONS Common Stock 87942R116 5,240 524 X X
TELLABS INC. Common Stock 879664100 6,263,125 110,000 X X
TEXAS REGIONAL BANCSHARES-A Common Stock 882673106 1,783,163 72,047 X X
3COM CORP Common Stock 885535104 287,500 10,000 X X
TIME WARNER, INC. Common Stock 887315109 7,536,281 124,054 X X
TOWN & COUNTRY TRUST Common Stock 892081100 67,832 3,835 X X
TRIBUNE CO Common Stock 896047107 3,980,000 80,000 X X
TRINET CORP. REALTY TRUST Common Stock 896287109 144,899 6,085 X X
TRISTAR AEROSAPCE CO Common Stock 89674L101 921,813 150,500 X X
TV AZTECA S.A. ADR Common Stock 901145102 362,500 72,500 X X
TYCO INTERNATIONAL LTD. Common Stock 902124106 2,581,315 25,001 X X
US RESTAURANT PROPERTIES Common Stock 902971100 66,500 3,500 X X
U.S. BANCORP Common Stock 902973106 1,509,375 50,000 X X
US AGGREGATES INC Common Stock 90334D109 1,045,313 75,000 X X
UNITED AUTO GROUP INC Common Stock 909440109 705,425 55,600 X X
UNITED DOMINION REALTY TRUST Common Stock 910197102 280,638 25,085 X X
UNITED TECHNOLOGIES CORP Common Stock 913017109 1,663,241 28,042 X X
URBAN SHOPPING CENTERS INC. Common Stock 917060105 125,529 4,310 X X
VF CORP. Common Stock 918204108 3,044,200 98,200 X X
VIACOM INC Common Stock 925524100 1,030,388 23,824 X X
VIACOM INC Common Stock 925524308 379,405 8,980 X X
VORNADO REALTY TRUST Common Stock 929042109 665,535 20,478 X X
VORNADO OPERATING COMPANY Common Stock 92904N103 16,800 2,800 X X
WALDEN RESIDENTIAL PROPS. INC. Common Stock 931210108 129,457 5,935 X X
WALGREENS CO Common Stock 931422109 3,806,250 150,000 X X
WARNER-LAMBERT CO Common Stock 934488107 4,115,250 62,000 X X
WASHINGTON MUTUAL INC Common Stock 939322103 930,194 31,802 X X
WASHINGTON REIT Common Stock 939653101 134,978 8,570 X X
WASTE MANAGEMENT, INC (NEW) Common Stock 94106L109 799,183 41,516 X X
WATSCO Common Stock 942622101 124,500 12,000 X X
WATSCO Common Stock 942622200 1,365,000 120,000 X X
WEINGARTEN REALTY TRUST Common Stock 948741103 237,892 6,365 X X
WESTERN PROPERTIES TRUST Common Stock 959261108 46,164 4,245 X X
WESTFIELD AMERICA INC Common Stock 959910100 245,588 17,700 X X
WEYERHAEUSER CO Common Stock 962166104 4,149,000 72,000 X X
WINSTON HOTELS INC. Common Stock 97563A102 34,036 3,835 X X
WINTRUST FINANCIAL CORP Common Stock 97650W108 952,200 55,200 X X
WIRELESS TELECOM GROUP, INC. Common Stock 976524108 191,800 109,600 X X
WITCO CORP Common Stock 977385103 560,000 35,000 X X
XEROX CORP Common Stock 984121103 1,677,500 40,000 X X
YESMAIL.COM INC Common Stock 98583Q101 127,500 12,000 X X
YOUNG BROADCASTING CORP -A Common Stock 987434107 1,073,688 20,500 X X
ZONAGEN INC Common Stock 98975L108 2,421 824 X X
PLATT MUSIC CORPORATION COMMON Common Stock 990775$08 0 19,186 X X
DAIMLER-CHRYSLER Common Stock D1668R123 1,388,750 20,000 X X
ACE LTD Common Stock G0070K103 5,390,901 318,282 X X
LASALLE RE Common Stock G5383Q101 16,659,352 1,200,674 X X
XL CAPITAL LTD Common Stock G98255105 2,025,000 45,000 X X
CORE LABORATORIES INC Common Stock N22717107 553,125 29,500 X X
SUN INTERNATIONAL HOTELS LTD-A Common Stock P8797T133 596,875 25,000 X X
ALLIANCE GAMING CORP Taxable Bonds-Convertible 01859PAG9 168,370 226,000 X X
ALLIED WASTE NORTH AMER Taxable Bonds-Convertible 01958XAN7 285,480 312,000 X X
ELAN (ATHENA) Taxable Bonds-Convertible 046854AB1 45,000 40,000 X X
J. BAKER INC Taxable Bonds-Convertible 057232AA8 126,563 150,000 X X
BUILDING ONE SERVICES CORP Taxable Bonds-Convertible 120114AA1 120,615 129,000 X X
CKE RESTAURANTS INC Taxable Bonds-Convertible 12561EAB1 710,381 1,095,000 X X
CALIFORNIA STEEL INDUSTRIES Taxable Bonds-Convertible 13077QAA1 44,415 47,000 X X
CARSON INC Taxable Bonds-Convertible 145845AB9 226,980 291,000 X X
REPUBLIC OF COLOMBIA Taxable Bonds-Convertible 195325AR6 214,063 250,000 X X
CONCENTRA MANAGED CARE, INC. Taxable Bonds-Convertible 20589TAB9 517,400 520,000 X X
CYBERNET INTERNET SERV Taxable Bonds-Convertible 232503AA0 121,000 121 X X
ESC MEDICAL SYSTEMS Taxable Bonds-Convertible 269025AA0 324,275 545,000 X X
ESC MEDICAL SYSTEMS Taxable Bonds-Convertible 269025AB8 190,400 320,000 X X
EUROTUNNEL TIER 1 Taxable Bonds-Convertible 29880K9W1 34,268 26,000 X X
GETTY IMAGES, INC Taxable Bonds-Convertible 374276AA1 4,458,750 4,350,000 X X
GRUPO INDL DURANGO Taxable Bonds-Convertible 40050MAA4 147,000 150,000 X X
HEALTHSOUTH CORP Taxable Bonds-Convertible 421924AD3 1,129,675 1,460,000 X X
HILTON HOTELS CORP. Taxable Bonds-Convertible 432848AL3 540,844 675,000 X X
INTEGRATED ELECTRIC SVCS Taxable Bonds-Convertible 45811EAB9 132,300 135,000 X X
INTEGRATED HEALTH SERV.,INC. Taxable Bonds-Convertible 45812CAE6 145,000 1,000,000 X X
INTERIM SERVICES, INC. Taxable Bonds-Convertible 45868PAA8 894,113 1,130,000 X X
JITNEY-JUNGLE STORES Taxable Bonds-Convertible 47758RAA3 47,610 69,000 X X
KELLSTROM INDUSTRIES Taxable Bonds-Convertible 488035AC0 2,765,000 3,500,000 X X
KELLSTROM INDUSTRIES Taxable Bonds-Convertible 488035AE6 1,360,000 2,000,000 X X
LTC PROPERTIES INC Taxable Bonds-Convertible 502175AF9 683,438 750,000 X X
LOUISIANA CASINO CRUISES Taxable Bonds-Convertible 546214AE7 136,000 136,000 X X
MRV COMMUNICATIONS INC Taxable Bonds-Convertible 553477AA8 2,775,000 3,000,000 X X
MASCOTECH INC. Taxable Bonds-Convertible 574670AB1 693,081 865,000 X X
MEDITRUST CORP Taxable Bonds-Convertible 58501TAC2 6,475,000 7,000,000 X X
METAL MANAGEMENT Taxable Bonds-Convertible 591097AB6 188,045 263,000 X X
METROCALL, INC Taxable Bonds-Convertible 591647AE2 42,090 69,000 X X
MICHAELS STORES INC Taxable Bonds-Convertible 594087AC2 935,750 950,000 X X
MUTUAL RISK Taxable Bonds-Convertible 628351AA6 423,750 1,000,000 X X
OFFSHORE LOGISTICS Taxable Bonds-Convertible 676255AF9 777,219 935,000 X X
ORANGE PLC Taxable Bonds-Convertible 685211AC8 213,638 211,000 X X
PSINET INC Taxable Bonds-Convertible 69363VAA5 21,725 22,000 X X
R&B FALCON CORP Taxable Bonds-Convertible 74912EAL5 110,780 116,000 X X
SWIFT ENERGY CO Taxable Bonds-Convertible 870738AC5 123,000 123,000 X X
TFM SA DE CV Taxable Bonds-Convertible 872402AC6 261,000 300,000 X X
THERMO INSTRUMENT SYSTEMS Taxable Bonds-Convertible 883559AE6 549,919 695,000 X X
THERMO FIBERTEK INC Taxable Bonds-Convertible 88355WAA3 406,875 500,000 X X
TV AZTECA S.A. ADR Taxable Bonds-Convertible 901145AF9 193,750 250,000 X X
WATERFORD GAMING LLC Taxable Bonds-Convertible 941388AD2 261,900 270,000 X X
BONOS DEL TESORO Taxable Bonds-Convertible GG7336199 648,410 700,000 X X
VENEZUELA REPUBLIC Taxable Bonds-Convertible TT3019862 148,000 200,000 X X
VENEZUELA-FLIRB Taxable Bonds-Convertible TT3077357 340,552 452,381 X X
ARGENTINA Taxable Bonds-Convertible TT3106925 441,924 505,750 X X
BRAZIL-IDU Taxable Bonds-Convertible TT3117492 266,234 750,000 X X
DOMINICAN REPUBLIC Taxable Bonds-Convertible TT3149263 157,500 250,000 X X
BRAZIL, REPUBLIC OF Taxable Bonds-Convertible TT3179690 234,750 300,000 X X
ECUADOR Taxable Bonds-Convertible TT3183460 125,775 430,000 X X
VIETNAM- Taxable Bonds-Convertible TT3299522 205,000 500,000 X X
VIETNAM- Taxable Bonds-Convertible TT3299530 143,750 500,000 X X
FURNAS CENTRAIS ELETRICA Taxable Bonds-Convertible TT3333859 350,928 385,000 X X
THERMO ELECTRON CORP Taxable Bonds-Convertible VV3070842 455,775 515,000 X X
THERMO FIBERTEK INC Taxable Bonds-Convertible VV3081948 440,000 500,000 X X
AT&T CAPITAL Preferred Stock-Convertible 00206J308 8,797,500 360,000 X X
ABN AMRO CAPITAL Preferred Stock-Convertible 00371T206 4,387,500 200,000 X X
ALABAMA POWER Preferred Stock-Convertible 010392595 4,227,113 200,100 X X
ALABAMA POWER Preferred Stock-Convertible 010392611 16,450,000 700,000 X X
ANADARKO PETROLEUM CORP Preferred Stock-Convertible 032511305 4,356,250 50,000 X X
APACHE CORP. Preferred Stock-Convertible 037411402 3,800,000 40,000 X X
APPALACHIAN POWER COMPANY Preferred Stock-Convertible 037735792 5,553,011 259,790 X X
ARMSTRONG WORLD INDUSTRIES INC Preferred Stock-Convertible 042476606 5,723,078 254,359 X X
BEAR STEARNS COMPANIES, INC. Preferred Stock-Convertible 073902876 11,363,625 273,000 X X
BOLDER TECHNOLOGIES CORP. Preferred Stock-Convertible 097519912 1,225,000 40,000 X X
BUDGET GROUP CAPITAL TRUST Preferred Stock-Convertible 119001204 522,450 17,200 X X
CENDANT CORPORATION Preferred Stock-Convertible 151313301 229,594 7,900 X X
CENTRAL MAINE POWER Preferred Stock-Convertible 154990113 4,012,500 50,000 X X
CHASE MANHATTAN NEW Preferred Stock-Convertible 16161A777 2,688,125 55,000 X X
CITIGROUP INC. Preferred Stock-Convertible 172967507 5,000,000 100,000 X X
CITIGROUP INC. Preferred Stock-Convertible 172967705 8,214,931 168,000 X X
COLTEC CAPITAL TRUST Preferred Stock-Convertible 196878201 490,500 12,000 X X
DETROIT EDISON CO Preferred Stock-Convertible 250847688 3,510,000 160,000 X X
DETROIT EDISON CO Preferred Stock-Convertible 250847696 1,062,425 46,700 X X
DILLARD DEPARTMENT STORES Preferred Stock-Convertible 25406P200 6,885,000 340,000 X X
ENTERPRISE CAPITAL Preferred Stock-Convertible 29390B201 2,075,000 100,000 X X
FPC CAPITAL I Preferred Stock-Convertible 302552203 4,403,900 200,000 X X
FEDERAL HOME LOAN MORTGAGE Preferred Stock-Convertible 313400830 9,800,000 200,000 X X
FELCOR SUITE HOTELS INC. Preferred Stock-Convertible 314305202 500,625 30,000 X X
FIRST WASHINGTON REALTY TRUST Preferred Stock-Convertible 337489603 137,500 5,000 X X
FLEETWOOD CAPITAL TRUST Preferred Stock-Convertible 339072407 442,913 12,700 X X
HECO CAPITAL TRUST II Preferred Stock-Convertible 40415B209 2,809,685 130,683 X X
HAWAIIAN ELECTRIC IND CAP TR Preferred Stock-Convertible 41987M201 3,298,750 130,000 X X
HIGHWOOD PROPERTIES INC Preferred Stock-Convertible 431284504 1,908,048 100,755 X X
HOUSEHOLD INT'L Preferred Stock-Convertible 44180R209 3,135,625 145,000 X X
IXC COMMUNICATIONS Preferred Stock-Convertible 450713847 14,400 400 X X
IXC COMMUNICATIONS Preferred Stock-Convertible 450713870 391,250 10,000 X X
INTERMEDIA COMMUNICATIONS INC Preferred Stock-Convertible 458801834 110,925 5,100 X X
KAUFMAN & BROAD HOME Preferred Stock-Convertible 486168503 447,063 62,200 X X
MBNA CORPORATION Preferred Stock-Convertible 55262L308 3,645,075 148,400 X X
MOTOTOLA CAPITAL Preferred Stock-Convertible 620074203 4,262,500 200,000 X X
NVP CAPITAL III Preferred Stock-Convertible 62944L201 7,107,300 315,005 X X
NEW PLAN EXCEL REALTY, INC Preferred Stock-Convertible 648053502 8,093,750 350,000 X X
PP&L RESOURCES Preferred Stock-Convertible 693498206 2,187,010 90,419 X X
ROUSE CO Preferred Stock-Convertible 779273309 748,125 21,000 X X
SALOMON SMITH BARNEY HLDS. INC Preferred Stock-Convertible 784646200 10,121,000 464,000 X X
SOUTHERN COMPANY Preferred Stock-Convertible 842637209 2,602,500 120,000 X X
SUIZA FOODS CORP Preferred Stock-Convertible 86507G200 641,700 18,400 X X
SUNAMERICA Preferred Stock-Convertible 86702N208 3,636,569 145,100 X X
LORAL SPACE & COMMUNICATIONS Preferred Stock-Convertible G56462149 486,338 9,900 X X
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