UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or 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: 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 August 3, 2000
---------------------------- ----------------------- ----------------
[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: 402
Form 13F Information Table Value Total: $729,616
(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
NAME OF ISSUER TITLE OF CLASS CUSIP MARKET VALUE PAR SHARES ITEM:6 ITEM:7 ITEM:8
<S> <C> <C> <C> <C> <C> <C> <C>
ADC TELECOMMUNICATIONS INC Common Stock 000886101 3,764,310 44,880 X X
ACM GOVT OPPOR FUND INC. Common Stock 000918102 32,880,432 4,655,636 X X
AMB PROPERTY CORP Common Stock 00163T109 383,250 16,800 X X
AMFM, INC Common Stock 001693100 2,439,150 35,350 X X
AMLI RESIDENTIAL PROPERTIES Common Stock 001735109 76,460 3,245 X X
AT&T CORP. Common Stock 001957109 2,229,608 70,501 X X
AT&T CORP. Common Stock 001957208 3,152,500 130,000 X X
AGILENT TECHNOLOGIES INC Common Stock 00846U101 737,500 10,000 X X
ALCOA, INC. Common Stock 013817101 2,900,000 100,000 X X
ALEXANDRIA REAL EST EQUITIES Common Stock 015271109 92,644 2,700 X X
ALLIED CAPITAL CORP Common Stock 01903Q108 1,190,000 70,000 X X
ALLIED WASTE INDUSTRIES INC Common Stock 019589308 1,150,180 115,018 X X
ALLTEL CORP. Common Stock 020039103 2,787,188 45,000 X X
AMERICA ONLINE INC Common Stock 02364J104 790,313 15,000 X X
AMERICAN INDUSTRIAL PROPS REIT Common Stock 026791202 55,606 4,100 X X
AMERICAN INTERNATIONAL GROUP Common Stock 026874107 3,055,049 26,000 X X
AMGEN, INC. Common Stock 031162100 4,601,375 65,500 X X
ANHEUSER-BUSCH COMPANIES INC Common Stock 035229103 2,987,500 40,000 X X
AON FUNDS Common Stock 036912301 5,292,010 512,295 X X
AON FUNDS Common Stock 036912889 100,907,566 10,500,267 X X
AON FUNDS Common Stock 037387206 12,165,646 698,773 X X
APACHE CORP. Common Stock 037411105 588,125 10,000 X X
APARTMENT INVESTMENT & MGMT CO Common Stock 03748R101 558,487 12,913 X X
ARCHSTONE COMMUNITIES TRUST Common Stock 039581103 567,213 26,930 X X
ARDEN REALTY GROUP INC. Common Stock 039793104 289,050 12,300 X X
ASSOCIATED ESTATES REALTY CORP Common Stock 045604105 29,190 4,170 X X
ASSOCIATES FIRST CAPITAL CORP. Common Stock 046008108 1,373,880 61,574 X X
AVALONBAY COMMUNITIES INC. Common Stock 053484101 532,814 12,762 X X
BP AMOCO PLC Common Stock 055622104 4,129,063 73,000 X X
BRE PROPERTIES, INC. Common Stock 05564E106 250,635 8,680 X X
BANKAMERICA CORP Common Stock 060505104 1,290,000 30,000 X X
BAXTER INTERNATIONAL Common Stock 071813109 421,875 6,000 X X
BEDFORD PROPERTY INVESTORS Common Stock 076446301 67,196 3,620 X X
BIOGEN Common Stock 090597105 2,451,000 38,000 X X
BOSTON PROPERTIES INC Common Stock 101121101 509,850 13,200 X X
BOYKIN LODGING Common Stock 103430104 44,550 3,300 X X
BRADLEY REAL ESTATES INC Common Stock 104580105 99,103 4,650 X X
BRANDYWINE REALTY TRUST Common Stock 105368203 138,752 7,255 X X
BRISTOL MYERS SQUIBB Common Stock 110122108 1,217,425 20,900 X X
BROADWING INC Common Stock 111620100 648,438 25,000 X X
11601 HOLDING CORP. Common Stock 11601H$01 14 2 X X
BURLINGTON NORTHERN/SANTA FE Common Stock 12189T104 986,313 43,000 X X
BURNHAM PACIFIC PPTY INC. Common Stock 12232C108 42,694 6,210 X X
CBL & ASSOC. PROPERTIES Common Stock 124830100 120,323 4,825 X X
CK WITCO CORP Common Stock 12562C108 396,251 32,347 X X
CSG SYSTEM INTL INC Common Stock 126349109 1,962,188 35,000 X X
CSX CORPORATION Common Stock 126408103 1,800,938 85,000 X X
CVS CORPORATION Common Stock 126650100 1,600,000 40,000 X X
CABOT INDUSTRIAL TRUST Common Stock 127072106 155,531 7,900 X X
CAMDEN PROPERTY TRUST Common Stock 133131102 228,949 7,794 X X
CANWEST GLOBAL COMM. CORP. Common Stock 138906300 723,001 65,356 X X
CAPITAL AUTOMOTIVE REIT Common Stock 139733109 57,913 4,100 X X
CAPTEC NET LEASE REALTY INC Common Stock 140724105 19,800 1,800 X X
CARAUSTAR INDUSTRIES INC Common Stock 140909102 680,625 45,000 X X
CARDINAL HEALTH INC. Common Stock 14149Y108 1,850,000 25,000 X X
CARNIVAL CORP Common Stock 143658102 585,000 30,000 X X
CARRAMERICA REALTY CORP Common Stock 144418100 342,248 12,915 X X
CENTER TRUST, INC. Common Stock 151845104 25,971 5,130 X X
CENTERPOINT PROPERTIES TRUST Common Stock 151895109 162,389 3,985 X X
CHASE MANHATTAN NEW Common Stock 16161A108 1,001,859 21,750 X X
CHATEAU COMMUNITIES INC Common Stock 161726104 155,093 5,490 X X
CHELSEA GCA REALTY INC Common Stock 163262108 106,971 3,095 X X
CINAR CORP CL B SUB VTG Common Stock 171905300 280,000 40,000 X X
CISCO SYSTEMS Common Stock 17275R102 1,747,969 27,500 X X
CITIGROUP INC. Common Stock 172967101 3,163,125 52,500 X X
CITRIX SYSTEMS INC Common Stock 177376100 549,188 29,000 X X
CLEAR CHANNEL COMMUNICATIONS Common Stock 184502102 4,505,700 60,076 X X
COASTAL CORP. Common Stock 190441105 1,217,500 20,000 X X
COLGATE PALMOLIVE CO Common Stock 194162103 598,750 10,000 X X
COLONIAL PROPERTIES TRUST Common Stock 195872106 120,724 4,410 X X
COLUMBIA BANKING SYSTEM INC Common Stock 197236102 367,500 30,000 X X
COMMERCIAL NET LEASE REALTY Common Stock 202218103 62,108 5,915 X X
COMPAQ COMPUTER Common Stock 204493100 1,405,938 55,000 X X
COMPUTER ASSOCIATES Common Stock 204912109 716,625 14,000 X X
COMPUWARE CORP. Common Stock 205638109 438,863 42,300 X X
COMVERSE TECHNOLOGY,INC Common Stock 205862402 1,860,000 20,000 X X
COM21 INC Common Stock 205937105 500,000 20,000 X X
CONCORD EFS INC Common Stock 206197105 1,300,000 50,000 X X
CORNERSTONE PROPANE PARTNERS Common Stock 218916104 399,500 27,200 X X
CORNERSTONE REALTY INCOME TR Common Stock 21922V102 75,000 7,500 X X
CORNING INC. Common Stock 219350105 3,778,250 14,000 X X
CORPORATE OFFICE PROPERTIES Common Stock 22002T108 31,238 3,400 X X
CORRECTIONAL PROPERTIES TRUST Common Stock 22025E104 14,700 1,400 X X
COUSINS PROPERTIES INC. Common Stock 222795106 240,240 6,240 X X
CRESENT REAL ESTATE EQUITIES Common Stock 225756105 477,958 23,315 X X
CROWN AMERN REALTY TRUST Common Stock 228186102 27,224 5,065 X X
DANA CORP Common Stock 235811106 351,395 16,585 X X
DEAN FOODS CO Common Stock 242361103 1,014,000 32,000 X X
DEERE & CO Common Stock 244199105 999,000 27,000 X X
DELL COMPUTER CORP Common Stock 247025109 3,057,375 62,000 X X
DELPHI AUTO SYSTEMS CORP Common Stock 247126105 1,456,323 100,005 X X
DEVELOPERS DIVERSIFIED REALTY Common Stock 251591103 1,442,963 96,600 X X
DEVON ENERGY Common Stock 25179M103 2,135,125 38,000 X X
DIGITAL RIVER INC Common Stock 25388B104 153,750 20,000 X X
THE WALT DISNEY CO. Common Stock 254687106 2,910,938 75,000 X X
DOW CHEMICAL Common Stock 260543103 135,844 4,500 X X
DSL.NET Common Stock 262506108 796,641 77,250 X X
DUPONT (E.I.) DENEMOURS & CO Common Stock 263534109 2,843,750 65,000 X X
DUKES-WEEKS REALTY CORP. Common Stock 264411505 544,229 24,323 X X
EMC CORP./MASS Common Stock 268648102 2,701,430 35,112 X X
EASTGROUP PROPERTIES Common Stock 277276101 65,188 3,095 X X
EASTMAN CHEMICAL Common Stock 277432100 3,103,750 65,000 X X
EMERSON ELECTRIC CO Common Stock 291011104 3,864,000 64,000 X X
ENTERTAINMENT PROPERTIES TRUST Common Stock 29380T105 41,438 3,000 X X
EQUITY INNS INC. Common Stock 294703103 44,253 7,225 X X
EQUITY OFFICE PROPERTIES TRUST Common Stock 294741103 1,832,383 66,481 X X
EQUITY ONE INC Common Stock 294752100 21,175 2,200 X X
EQUITY RESIDENTIAL PROPERTIES Common Stock 29476L107 1,125,298 24,463 X X
ESSEX PROPERTY TRUST INC Common Stock 297178105 143,010 3,405 X X
EXCEL LEGACY CORP. Common Stock 300665106 180,063 67,000 X X
EXXON MOBIL CORP Common Stock 30231G102 5,422,702 69,079 X X
FEDERAL NATIONAL MORTGAGE ASSN Common Stock 313586109 1,565,625 30,000 X X
FEDERAL REALTY INV. TRUST Common Stock 313747206 157,200 7,860 X X
FELCOR SUITE HOTELS INC. Common Stock 31430F101 236,615 12,790 X X
FIBERMARK INC Common Stock 315646109 742,500 60,000 X X
FIRST DATA CORPORATION Common Stock 319963104 3,110,346 62,677 X X
FIRST INDUSTRIAL REALTY TRUST Common Stock 32054K103 218,448 7,405 X X
FIRST UNION CORP Common Stock 337358105 1,860,938 75,000 X X
FIRST WASHINGTON REALTY TRUST Common Stock 337489504 41,919 1,900 X X
FIRST FEDERAL SAVINGS BANK Common Stock 33761K105 1,034,622 55,737 X X
FORD MOTOR COMPANY Common Stock 345370100 5,590,000 130,000 X X
FORT JAMES CORPORATION Common Stock 347471104 346,875 15,000 X X
FOUNDRY NETWORKS IN Common Stock 35063R100 1,100,000 10,000 X X
FOX ENTERTAINMENT GRP INC-A Common Stock 35138T107 759,375 25,000 X X
FRANCHISE FINANCE CORP OF AMER Common Stock 351807102 249,780 10,860 X X
GPU INC. Common Stock 36225X100 1,353,125 50,000 X X
GTE CORP Common Stock 362320103 1,052,025 16,900 X X
GABLES RESIDENTIAL TRUST Common Stock 362418105 125,531 4,875 X X
GENERAL ELECTRIC Common Stock 369604103 6,261,208 118,136 X X
GENERAL GROWTH PROPERTIES INC. Common Stock 370021107 317,659 10,005 X X
GENTEX CORP Common Stock 371901109 251,250 10,000 X X
GLENBOROUGH REALTY TRUST Common Stock 37803P105 102,794 5,895 X X
GLIMCHER REALTY TRUST Common Stock 379302102 66,844 4,650 X X
GOLF TRUST OF AMERICA, INC. Common Stock 38168B103 23,813 1,500 X X
GRAINGER W W INC Common Stock 384802104 1,848,750 60,000 X X
GREAT LAKES REIT Common Stock 390752103 54,400 3,200 X X
HRPT PROPERTIES, INC Common Stock 40426W101 1,395,888 227,900 X X
JOHN HANCOCK FINANCIAL SVCS Common Stock 41014S106 91,173 3,849 X X
HARTMARX Common Stock 417119104 259,069 101,100 X X
HEALTH CARE PPTYS INVEST INC Common Stock 421915109 250,700 9,200 X X
HEALTH CARE REIT, INC. Common Stock 42217K106 1,159,844 71,375 X X
HEWLETT PACKARD COMPANY Common Stock 428236103 2,497,500 20,000 X X
HIGHWOOD PROPERTIES INC Common Stock 431284108 288,480 12,020 X X
HOME DEPOT INC Common Stock 437076102 2,230,259 44,661 X X
HOME PROPERTIES OF NY INC Common Stock 437306103 111,000 3,700 X X
HONEYWELL INTERNATIONAL INC. Common Stock 438516106 568,477 16,875 X X
HOSPITALITY PROPERTIES TRUST Common Stock 44106M102 247,398 10,965 X X
HOST MARRIOTT CORP Common Stock 44107P104 416,250 44,400 X X
IRT PROPERTY COMPANY Common Stock 450058102 55,080 6,480 X X
ILLINOIS TOOL WORKS INC. Common Stock 452308109 3,420,000 60,000 X X
INFINITY BROADCASTING CORP - A Common Stock 45662S102 327,938 9,000 X X
INGERSOLL RAND CO. Common Stock 456866102 3,421,250 85,000 X X
INSIGHT ENTERPRISES Common Stock 45765U103 889,688 15,000 X X
INNKEEPERS USA TRUST Common Stock 4576J0104 107,219 11,750 X X
INTEL CORPORATION Common Stock 458140100 4,812,750 36,000 X X
INT'L BUSINESS MACHINES Common Stock 459200101 1,577,700 14,400 X X
INTERNATIONAL PAPER COMPANY Common Stock 460146103 104,344 3,500 X X
INVESTORS REAL ESTATE TRUST Common Stock 461730103 33,056 4,300 X X
IVEX PACKAGING Common Stock 465855104 1,065,775 95,800 X X
JDN REALTY CORP Common Stock 465917102 67,288 6,605 X X
JP REALTY INC Common Stock 46624A106 58,959 3,310 X X
JAMESON INNS Common Stock 470457102 16,631 2,255 X X
JOHNSON & JOHNSON Common Stock 478160104 4,789,755 47,016 X X
KERR MCGEE CORP Common Stock 492386107 1,178,750 20,000 X X
KILROY REALTY CORP Common Stock 49427F108 140,063 5,400 X X
KIMCO REALTY CORP. Common Stock 49446R109 481,750 11,750 X X
KOGER EQUITY INC. Common Stock 500228101 87,750 5,200 X X
KONOVER PROPERTY TRUST, INC Common Stock 50047R100 28,500 6,000 X X
KRAMONT REALTY TRUST Common Stock 50075Q107 19,031 2,030 X X
KROGER Common Stock 501044101 2,081,994 94,368 X X
LTC HEALTHCARE, INC. Common Stock 50217R104 1 1 X X
L-3 COMMUNICATIONS HLDGS INC Common Stock 502424104 2,094,194 36,700 X X
LASALLE HOTEL PROPERTIES Common Stock 517942108 47,438 3,300 X X
LEXINGTON CORP PPTY TRUST Common Stock 529043101 37,422 3,345 X X
LIBERTY PROPERTY TRUST Common Stock 531172104 336,798 12,985 X X
ELI LILLY & CO. Common Stock 532457108 2,496,875 25,000 X X
LITTELFUSE, INC. Common Stock 537008104 980,000 20,000 X X
LUCENT TECHNOLOGIES, INC. Common Stock 549463107 5,332,500 90,000 X X
LYONDELL PETROCHEMICAL Common Stock 552078107 167,500 10,000 X X
MGIC INVESTMENT CORP Common Stock 552848103 364,000 8,000 X X
THE MACERICH COMPANY Common Stock 554382101 145,061 6,575 X X
MACK-CALI REALTY CORP. Common Stock 554489104 1,831,390 71,295 X X
MANUFACTURED HOME COMMUNITIES Common Stock 564682102 110,472 4,615 X X
MCAFEE.COM CORPORATION Common Stock 579062100 156,375 6,000 X X
MCDONALDS CORP Common Stock 580135101 1,152,813 35,000 X X
MERCK & CO. Common Stock 589331107 1,762,375 23,000 X X
MERISTAR HOSPITALITY CORP Common Stock 58984Y103 194,943 9,283 X X
MESA LABORATORIES INC. Common Stock 59064R109 198,000 36,000 X X
METALS USA INC Common Stock 591324108 93,750 20,000 X X
MICROSOFT CORP. Common Stock 594918104 3,280,000 41,000 X X
MID-AMERICA APARTMENT COMM. Common Stock 59522J103 86,280 3,595 X X
MID ATLANTIC REALTY TRUST Common Stock 595232109 27,000 2,700 X X
MILLS CORPORATION Common Stock 601148109 87,384 4,645 X X
MISSION WEST PROPERTIES Common Stock 605203108 34,650 3,300 X X
MOBILE MINI INC Common Stock 60740F105 264,750 12,000 X X
MOBILITY ELECTRONICS Common Stock 60741U101 39,000 3,000 X X
MORGAN STANLEY DEAN WITTER & C Common Stock 617446448 2,081,300 25,001 X X
MOTOROLA INC. Common Stock 620076109 435,938 15,000 X X
NATIONAL GOLF PROPERTIES INC. Common Stock 63623G109 50,594 2,395 X X
NATIONAL HEALTH INVESTORS INC. Common Stock 63633D104 233,200 21,200 X X
NEW PLAN EXCEL REALTY, INC Common Stock 648053106 307,086 23,622 X X
NEWELL RUBBERMAID, INC Common Stock 651229106 13 1 X X
NEWPARK RESOURCES INC. Common Stock 651718504 1,422,080 150,684 X X
NOKIA CORPORATION Common Stock 654902204 2,197,250 44,000 X X
NORFOLK SOUTHERN CORP Common Stock 655844108 2,005,150 134,800 X X
NUCOR CORP Common Stock 670346105 2,157,188 65,000 X X
OCULAR SCIENCES INC Common Stock 675744106 587,500 50,000 X X
OMEGA HEALTHCARE INVESTORS Common Stock 681936100 202,500 45,000 X X
OMEGA WORLDWIDE INC Common Stock 68210B108 79,088 21,817 X X
ORACLE SYSTEMS CORP Common Stock 68389X105 840,625 10,000 X X
PPG INDS INC. Common Stock 693506107 1,329,375 30,000 X X
PS BUSINESS PARKS INC Common Stock 69360J107 110,400 4,600 X X
PACIFIC GULF PROPERTIES Common Stock 694396102 98,245 3,920 X X
PAN PACIFIC RETAIL PPTY Common Stock 69806L104 82,513 4,100 X X
PARKWAY PROPERTIES INC. Common Stock 70159Q104 57,950 1,900 X X
PAXSON COMMUNICATION Common Stock 704231109 264,000 33,000 X X
PENNEY J C COMPANY, INC. Common Stock 708160106 645,313 35,000 X X
PENN REAL ESTATE INVEST TST Common Stock 709102107 43,754 2,555 X X
PEPSICO INC Common Stock 713448108 711,000 16,000 X X
PETROLEUM GEO-SVCS -SPON ADR Common Stock 716597109 1,109,063 65,000 X X
PFIZER, INC. Common Stock 717081103 7,080,000 147,500 X X
PHILIPS INTL REALTY Common Stock 718333107 24,325 1,400 X X
PINNACLE HOLDINGS INC Common Stock 72346N101 507,600 9,400 X X
PITNEY BOWES INC Common Stock 724479100 1,200,000 30,000 X X
BANCPONCE Common Stock 733174106 7,447,951 390,712 X X
POST PROPERTIES Common Stock 737464107 329,780 7,495 X X
POWERWAVE TECHNOLOGIES INC Common Stock 739363109 1,056,000 24,000 X X
PREMIER PARKS, INC Common Stock 740540208 1,592,500 70,000 X X
PRENTISS PROPERTIES TRUST Common Stock 740706106 175,200 7,300 X X
PRIME RETAIL Common Stock 741570105 1 1 X X
PRIME GROUP REALTY TRUST Common Stock 74158J103 44,044 2,900 X X
PROCTOR & GAMBLE CO Common Stock 742718109 572,500 10,000 X X
PUBLIC STORAGE INC. Common Stock 74460D109 618,720 26,399 X X
QUANTA SERVICES INC Common Stock 74762E102 1,925,000 35,000 X X
RFS HOTEL INVESTORS INC. Common Stock 74955J108 56,694 4,825 X X
RADIANT SYSTEMS INC Common Stock 75025N102 912,000 38,000 X X
RAILWORKS CORP Common Stock 750789109 780,000 96,000 X X
RAMCO-GERSHENSON PROPERTIES Common Stock 751452202 21,700 1,400 X X
REALTY INCOME CORP Common Stock 756109104 121,347 5,150 X X
RECKSON ASSOC REALTY CORP Common Stock 75621K106 234,413 9,870 X X
REGENCY REALTY CORP Common Stock 758939102 8,551,615 360,068 X X
RELIANCE GROUP HOLDINGS Common Stock 759464100 1 1 X X
ROUSE CO Common Stock 779273101 339,075 13,700 X X
ROYAL DUTCH PETROLEUM CO. Common Stock 780257804 1,539,063 25,000 X X
SL GREEN REALTY CORP Common Stock 78440X101 125,725 4,700 X X
ST PAUL COS Common Stock 792860108 4,074,549 119,401 X X
SAKS INCORPORATED Common Stock 79377W108 651,000 62,000 X X
SANDISK CORP Common Stock 80004C101 856,625 14,000 X X
SAUL CENTERS INC Common Stock 804395101 41,844 2,595 X X
SCHERING PLOUGH CORP Common Stock 806605101 5,444,304 107,808 X X
SCHOLASTIC CORP Common Stock 807066105 1,528,125 25,000 X X
SECURITY CAPITAL GROUP Common Stock 81413P105 19 1 X X
SECURITY CAPITAL GROUP Common Stock 81413P204 6,862,016 403,648 X X
SHELL TRANSPORT - TRADING ADR Common Stock 822703609 3,545,563 71,000 X X
SHERWIN-WILLIAMS CO Common Stock 824348106 635,625 30,000 X X
SHURGARD STORAGE Common Stock 82567D104 127,463 5,665 X X
SIGMA ALDRICH Common Stock 826552101 1,462,500 50,000 X X
SILICON VALLEY BANCSHARES Common Stock 827064106 213,125 5,000 X X
SIMON PROPERTY GROUP, INC. Common Stock 828806109 747,608 33,695 X X
SMITH-GARDNER & ASSOCIATES Common Stock 832059109 144,375 30,000 X X
SMITH CHARLES E RESIDENTIAL Common Stock 832197107 144,210 3,795 X X
SMITHKLINE BEECHAM - ADR Common Stock 832378301 325,938 5,000 X X
SOVRAN SELF STORAGE INC Common Stock 84610H108 51,879 2,420 X X
SPIEKER PROPERTIES, INC. Common Stock 848497103 577,300 12,550 X X
STATE STREET CORP Common Stock 857477103 2,121,250 20,000 X X
STORAGE USA Common Stock 861907103 161,218 5,465 X X
SUMMIT PROPERTIES INC Common Stock 866239106 115,815 5,515 X X
SUN COMMUNITIES INC Common Stock 866674104 111,514 3,335 X X
SUN MICROSYSTEMS, INC. Common Stock 866810104 10,048,230 110,496 X X
SUNGARD DATA SYSTEMS Common Stock 867363103 1,240,000 40,000 X X
TJX COMPANIES Common Stock 872540109 170,625 9,100 X X
TALISMAN ENERGY INC Common Stock 87425E103 828,125 25,000 X X
TANGER FACTORY Common Stock 875465106 35,250 1,500 X X
TARGET CORP Common Stock 87612E106 870,000 15,000 X X
TAUBMAN CENTERS INC. Common Stock 876664103 113,080 10,280 X X
TELEHUB COMMUNICATIONS Common Stock 87942R116 262 524 X X
TELLABS INC. Common Stock 879664100 5,475,000 80,000 X X
TEXAS INSTRUMENTS Common Stock 882508104 961,625 14,000 X X
TEXAS REGIONAL BANCSHARES-A Common Stock 882673106 126,875 5,000 X X
TEXTRON, INC Common Stock 883203101 1,303,500 24,000 X X
3COM CORP Common Stock 885535104 288,125 5,000 X X
TIME WARNER, INC. Common Stock 887315109 9,268,504 121,954 X X
TOWN & COUNTRY TRUST Common Stock 892081100 52,164 3,035 X X
TRIBUNE CO Common Stock 896047107 3,290,000 94,000 X X
TUT SYSTEMS INC Common Stock 901103101 1,262,250 22,000 X X
TWEETER HOME ENTERTAINMENT GRP Common Stock 901167106 303,750 10,000 X X
TYCO INTERNATIONAL LTD. Common Stock 902124106 1,516,030 32,001 X X
US RESTAURANT PROPERTIES Common Stock 902971100 26,813 3,000 X X
UNITED AUTO GROUP INC Common Stock 909440109 6,091,795 667,594 X X
UNITED DOMINION REALTY TRUST Common Stock 910197102 219,835 19,985 X X
UNITED TECHNOLOGIES CORP Common Stock 913017109 1,650,973 28,042 X X
UNIVERSAL FOREST PRODUCTS Common Stock 913543104 220,000 16,000 X X
URBAN SHOPPING CENTERS INC. Common Stock 917060105 118,243 3,510 X X
VF CORP. Common Stock 918204108 2,338,388 98,200 X X
VANTAGEMED CORP Common Stock 92208W106 45,313 25,000 X X
VIACOM INC Common Stock 925524100 2,312,716 33,824 X X
VIACOM INC Common Stock 925524308 612,324 8,980 X X
VISTEON CORP Common Stock 92839U107 206,368 17,020 X X
VITESSE SEMICONDUCTOR Common Stock 928497106 735,625 10,000 X X
VORNADO REALTY TRUST Common Stock 929042109 579,561 16,678 X X
VORNADO OPERATING COMPANY Common Stock 92904N103 21,700 2,800 X X
WALGREENS CO Common Stock 931422109 3,218,750 100,000 X X
WASHINGTON MUTUAL INC Common Stock 939322103 44 2 X X
WASHINGTON REIT Common Stock 939653101 122,801 6,870 X X
WATSCO Common Stock 942622101 145,500 12,000 X X
WATSCO Common Stock 942622200 1,500,000 120,000 X X
WATSON PHARMACEUTICALS, INC. Common Stock 942683103 1,075,000 20,000 X X
WEINGARTEN REALTY TRUST Common Stock 948741103 208,537 5,165 X X
WELLPOINT HEALTH NETWORKS Common Stock 94973H108 651,938 9,000 X X
WESTERN PROPERTIES TRUST Common Stock 959261108 39,722 3,345 X X
WESTFIELD AMERICA INC Common Stock 959910100 190,813 14,200 X X
WESTPOINT STEVEN Common Stock 961238102 1,168,125 105,000 X X
WINSTON HOTELS INC. Common Stock 97563A102 24,263 3,235 X X
WINTRUST FINANCIAL CORP Common Stock 97650W108 1,191,775 77,200 X X
WIRELESS TELECOM GROUP, INC. Common Stock 976524108 328,800 109,600 X X
WORLDCOM INC Common Stock 98157D106 6,193,125 135,000 X X
XEROX CORP Common Stock 984121103 975,250 47,000 X X
YOUNG BROADCASTING CORP -A Common Stock 987434107 1,271,531 49,500 X X
PLATT MUSIC CORPORATION COMMON Common Stock 990775$08 0 19,186 X X
DAIMLER-CHRYSLER Common Stock D1668R123 1,041,250 20,000 X X
ACE LTD Common Stock G0070K103 8,911,896 318,282 X X
LASALLE RE Common Stock G5383Q101 17,034,562 1,200,674 X X
SUN INTERNATIONAL HOTELS LTD-A Common Stock P8797T133 500,000 25,000 X X
J. BAKER INC Taxable Bonds-Convertible 057232AA8 120,750 150,000 X X
CKE RESTAURANTS INC Taxable Bonds-Convertible 12561EAB1 505,069 1,095,000 X X
CARSON INC Taxable Bonds-Convertible 145845AB9 292,455 291,000 X X
CLEAR CHANNEL COMMUNICATIONS Taxable Bonds-Convertible 184502AE2 853,125 875,000 X X
DEVON ENERGY Taxable Bonds-Convertible 25179MAB9 1,907,500 2,000,000 X X
ESC MEDICAL SYSTEMS Taxable Bonds-Convertible 269025AA0 456,438 545,000 X X
ESC MEDICAL SYSTEMS Taxable Bonds-Convertible 269025AB8 268,000 320,000 X X
EUROTUNNEL TIER 1 Taxable Bonds-Convertible 29880K9W1 76,800 96,000 X X
FORD MOTOR CREDIT CORP. Taxable Bonds-Convertible 345397SS3 1,991,126 2,000,000 X X
GETTY IMAGES, INC Taxable Bonds-Convertible 374276AA1 2,802,500 2,000,000 X X
GETTY IMAGES, INC Taxable Bonds-Convertible 374276AD5 2,467,500 3,000,000 X X
HEALTHSOUTH CORP Taxable Bonds-Convertible 421924AD3 1,146,100 1,460,000 X X
HILTON HOTELS CORP. Taxable Bonds-Convertible 432848AL3 530,719 675,000 X X
INTEGRATED ELECTRIC SVCS Taxable Bonds-Convertible 45811EAB9 68,850 85,000 X X
INTEGRATED HEALTH SERV.,INC. Taxable Bonds-Convertible 45812CAE6 6,250 1,000,000 X X
INTERIM SERVICES, INC. Taxable Bonds-Convertible 45868PAA8 865,863 1,130,000 X X
KELLSTROM INDUSTRIES Taxable Bonds-Convertible 488035AC0 1,544,375 3,500,000 X X
KELLSTROM INDUSTRIES Taxable Bonds-Convertible 488035AE6 897,500 2,000,000 X X
KERR MCGEE CORP Taxable Bonds-Convertible 492386AP2 1,323,938 1,150,000 X X
LTC PROPERTIES INC Taxable Bonds-Convertible 502175AF9 676,875 750,000 X X
MASCOTECH INC. Taxable Bonds-Convertible 574670AB1 644,425 865,000 X X
MEDITRUST CORP Taxable Bonds-Convertible 58501TAC2 6,125,000 7,000,000 X X
METAL MANAGEMENT Taxable Bonds-Convertible 591097AB6 144,650 263,000 X X
MUTUAL RISK Taxable Bonds-Convertible 628351AA6 470,000 1,000,000 X X
OFFSHORE LOGISTICS Taxable Bonds-Convertible 676255AF9 855,525 935,000 X X
SPECIALTY RETAILERS INC Taxable Bonds-Convertible 847514AN6 8,400 84,000 X X
TJX COMPANIES Taxable Bonds-Convertible 872540AH2 1,438,565 1,500,000 X X
THERMO INSTRUMENT SYSTEMS Taxable Bonds-Convertible 883559AE6 596,831 695,000 X X
THERMO FIBERTEK INC Taxable Bonds-Convertible 88355WAA3 420,000 500,000 X X
TIMES MIRROR CO. Taxable Bonds-Convertible 887364AG2 1,488,716 1,500,000 X X
REPUBLIC OF TURKEY Taxable Bonds-Convertible 900123AJ9 265,000 250,000 X X
UNITED RENTALS INC Taxable Bonds-Convertible 911363AH2 76,110 86,000 X X
VICAP SA Taxable Bonds-Convertible 925609AD1 66,000 75,000 X X
JAZZTEL PLC Taxable Bonds-Convertible EC2071271 127,840 136,000 X X
MAXCOM TELECOMUNICACIONES Taxable Bonds-Convertible P6464EAA6 308,000 350,000 X X
REPUBLIC OF VENEZUELA Taxable Bonds-Convertible TT3068380 589,286 714,286 X X
BRAZIL-IDU Taxable Bonds-Convertible TT3117492 658,539 657,750 X X
REPUBLIC OF PANAMA Taxable Bonds-Convertible TT3220270 560,560 700,000 X X
THERMO ELECTRON CORP Taxable Bonds-Convertible VV3070842 469,732 515,000 X X
THERMO FIBERTEK INC Taxable Bonds-Convertible VV3081948 440,300 500,000 X X
AT&T CAPITAL Preferred Stock-Convertible 00206J308 8,595,000 360,000 X X
ABN AMRO CAPITAL Preferred Stock-Convertible 00371T206 4,100,000 200,000 X X
ALABAMA POWER Preferred Stock-Convertible 010392595 3,851,925 200,100 X X
ALABAMA POWER Preferred Stock-Convertible 010392611 15,050,000 700,000 X X
ANADARKO PETROLEUM CORP Preferred Stock-Convertible 032511305 4,268,750 50,000 X X
APACHE CORP. Preferred Stock-Convertible 037411402 3,470,000 40,000 X X
APPALACHIAN POWER COMPANY Preferred Stock-Convertible 037735792 5,260,748 259,790 X X
ARMSTRONG WORLD INDUSTRIES INC Preferred Stock-Convertible 042476606 4,928,206 254,359 X X
BEAR STEARNS COMPANIES, INC. Preferred Stock-Convertible 073902876 10,681,125 273,000 X X
BOLDER TECHNOLOGIES CORP. Preferred Stock-Convertible 097519912 1,196,656 40,000 X X
BUDGET GROUP CAPITAL TRUST Preferred Stock-Convertible 119001204 346,150 17,200 X X
CENDANT CORPORATION Preferred Stock-Convertible 151313301 171,825 7,900 X X
CENTRAL MAINE POWER Preferred Stock-Convertible 154990113 3,750,000 50,000 X X
CHASE MANHATTAN NEW Preferred Stock-Convertible 16161A777 2,612,500 55,000 X X
CITIGROUP INC. Preferred Stock-Convertible 172967507 4,500,000 100,000 X X
CITIGROUP INC. Preferred Stock-Convertible 172967705 7,539,000 168,000 X X
COLTEC CAPITAL TRUST Preferred Stock-Convertible 196878201 480,000 12,000 X X
DETROIT EDISON CO Preferred Stock-Convertible 250847688 3,360,000 160,000 X X
DETROIT EDISON CO Preferred Stock-Convertible 250847696 1,006,969 46,700 X X
DILLARD DEPARTMENT STORES Preferred Stock-Convertible 25406P200 5,333,750 340,000 X X
ENTERPRISE CAPITAL Preferred Stock-Convertible 29390B201 2,025,000 100,000 X X
FPC CAPITAL I Preferred Stock-Convertible 302552203 4,150,000 200,000 X X
FEDERAL HOME LOAN MORTGAGE Preferred Stock-Convertible 313400830 9,900,000 200,000 X X
FLEETWOOD CAPITAL TRUST Preferred Stock-Convertible 339072407 369,888 12,700 X X
HECO CAPITAL TRUST II Preferred Stock-Convertible 40415B209 2,760,678 130,683 X X
HAWAIIAN ELECTRIC IND CAP TR Preferred Stock-Convertible 41987M201 3,111,875 130,000 X X
HIGHWOOD PROPERTIES INC Preferred Stock-Convertible 431284504 1,889,156 100,755 X X
HOUSEHOLD INT'L Preferred Stock-Convertible 44180R209 2,909,063 145,000 X X
KAUFMAN & BROAD HOME Preferred Stock-Convertible 486168503 404,300 62,200 X X
MBNA CORPORATION Preferred Stock-Convertible 55262L308 3,561,600 148,400 X X
MOTOTOLA CAPITAL Preferred Stock-Convertible 620074203 4,175,000 200,000 X X
NVP CAPITAL III Preferred Stock-Convertible 62944L201 6,516,666 315,005 X X
NEW PLAN EXCEL REALTY, INC Preferred Stock-Convertible 648053502 7,525,000 350,000 X X
PP&L RESOURCES Preferred Stock-Convertible 693498206 2,090,939 90,419 X X
SALOMON SMITH BARNEY HLDS. INC Preferred Stock-Convertible 784646200 9,802,000 464,000 X X
SOUTHERN COMPANY Preferred Stock-Convertible 842637209 2,437,500 120,000 X X
SUIZA FOODS CORP Preferred Stock-Convertible 86507G200 696,900 18,400 X X
SUNAMERICA Preferred Stock-Convertible 86702N208 3,663,775 145,100 X X
WINSTAR COMMUNICATIONS, INC Preferred Stock-Convertible 975515602 5,055 109 X X
729,616,203 77,862,047
</TABLE>
