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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
INFORMATION REQUIRED OF INSTITUTIONAL INVESTMENT MANAGERS PURSUANT
TO SECTION 13(f) OF THE SECURITIES EXCHANGE ACT OF 1934 AND RULES THEREUNDER
REPORT FOR THE CALENDAR YEAR OR QUARTER ENDED SEPTEMBER 30, 2000
--------------------------------------------------------------------------------
(PLEASE READ INSTRUCTIONS BEFORE PREPARING FORM.)
--------------------------------------------------------------------------------
IF AMENDED REPORT CHECK HERE: |_|
ALLSTATE LIFE INSURANCE COMPANY
--------------------------------------------------------------------------------
NAME OF INSTITUTIONAL INVESTMENT MANAGER
3075 SANDERS ROAD SUITE G4A NORTHBROOK ILLINOIS 60062-7127
--------------------------------------------------------------------------------
BUSINESS ADDRESS (STREET) (CITY) (STATE) (ZIP)
DOUGLAS B. WELCH (847)402-6046 ASSISTANT VICE PRESIDENT, INVESTMENT OPERATIONS
--------------------------------------------------------------------------------
NAME, PHONE NO., AND TITLE OF PERSON DULY AUTHORIZED TO SUBMIT THIS REPORT.
------------------------------------ATTENTION-----------------------------------
INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACTS CONSTITUTE
FEDERAL CRIMINAL VIOLATIONS.
SEE 18 U.S.C. 1001 AND 15 U.S.C. 78FF(A).
--------------------------------------------------------------------------------
THE INSTITUTIONAL INVESTMENT MANAGER SUBMITTING THIS FORM AND ITS
ATTACHMENTS AND THE PERSON BY WHOM IT IS SIGNED REPRESENT HEREBY THAT ALL
INFORMATION CONTAINED THEREIN IS TRUE, CORRECT AND COMPLETE. IT IS UNDERSTOOD
THAT ALL REQUIRED ITEMS, STATEMENTS AND SCHEDULES ARE CONSIDERED INTEGRAL PARTS
OF THIS FORM AND THAT THE SUBMISSION OF ANY AMENDMENT REPRESENTS THAT ALL
UNAMENDED ITEMS, STATEMENTS AND SCHEDULES REMAIN TRUE, CORRECT AND COMPLETE AS
PREVIOUSLY SUBMITTED.
PURSUANT TO THE REQUIREMENTS OF SECURITIES EXCHANGE ACT OF 1934, THE
UNDERSIGNED INSTITUTIONAL INVESTMENT MANAGER HAS CAUSED THIS REPORT TO BE SIGNED
ON ITS BEHALF IN ON THE 11 DAY OF FEBRUARY, 2000.
ALLSTATE LIFE INSURANCE COMPANY
------------------------------------------
(NAME OF INSTITUTIONAL INVESTMENT MANAGER)
/S/ DOUGLAS B. WELCH
------------------------------------------
(MANUAL SIGNATURE OF PERSON DULY
AUTHORIZED TO SUBMIT THIS REPORT)
NAME AND 13F FILE NUMBERS OF ALL INSTITUTIONAL INVESTMENT MANAGERS WITH RESPECT
TO WHICH THIS SCHEDULE IS FILED (OTHER THAN THE ONE FILING THIS REPORT): (LIST
IN ALPHABETICAL ORDER).
13F FILE NUMBERS WILL BE ASSIGNED TO INSTITUTIONAL INVESTMENT MANAGERS AFTER
THEY FILE THEIR FIRST REPORT.
NAME: 13F FILE NO.:
-------------------------------------------------------------- ---------------
1. ALLSTATE INSURANCE COMPANY 28-35
-------------------------------------------------------------- ---------------
2.
-------------------------------------------------------------- ---------------
3.
-------------------------------------------------------------- ---------------
4.
-------------------------------------------------------------- ---------------
5.
-------------------------------------------------------------- ---------------
<PAGE>
FORM 13F REPORT
NAME OF REPORTING MANAGER: ALLSTATE LIFE INSURANCE COMPANY
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION VOTING AUTHORITY
--------------------- (SHARES)
TITLE FAIR SHARES OR (A) (B) (C) MANA- ----------------
NAME OF ISSUER OF CUSIP MARKET PRINCIPAL SOLE SHARED SHARED GERS (A) (B) (C)
CLASS NUMBER VALUE AMOUNT OTHER SOLE SHARED NONE
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
A D C TELECOM COMMON STOCK 000886101 209,747 7,800 X 1 X
AES CORP COMMON STOCK 00130H105 369,900 5,400 X 1 X
A M R COMMON STOCK 001765106 303,994 9,300 X 1 X
AT & T COMMON STOCK 001957109 2,754,200 93,760 X 1 X
AT&T CORP - LIBERTY MEDIA COMMON STOCK 001957208 334,800 18,600 X 1 X
ABBOTT LABS COMMON STOCK 002824100 3,843,050 80,800 X 1 X
AGILENT TECHNOLOGIES COMMON STOCK 00846U101 200,595 4,099 X 1 X
AIR PRODUCTS & CHEMICALS COMMON STOCK 009158106 338,400 9,400 X 1 X
ALUMINUM CO OF AMERICA COMMON STOCK 013817101 416,948 16,472 X 1 X
ALLEGHENY ENERGY COMMON STOCK 017361106 950,869 24,900 X 1 X
ALLAMERICA FINC. CORP COMMON STOCK 019754100 409,200 6,400 X 1 X
AMERICA ON-LINE COMMON STOCK 02364J104 1,155,625 21,500 X 1 X
AMERN EAGLE OUTFITTERS INC COMMON STOCK 02553E106 768,600 24,400 X 1 X
AMERICAN EXPRESS COMMON STOCK 025816109 838,350 13,800 X 1 X
AMERICAN FINANCIAL COMMON STOCK 025932104 324,625 14,000 X 1 X
AMERICAN GENERAL COMMON STOCK 026351106 1,338,324 17,158 X 1 X
AMERICAN HOME PRODUCTS COMMON STOCK 026609107 735,313 13,000 X 1 X
AMERICAN INTL COMMON STOCK 026874107 3,760,902 39,304 X 1 X
AMERICAN STANDARD COMPANIE COMMON STOCK 029712106 742,106 16,700 X 1 X
AMGEN COMMON STOCK 031162100 1,480,356 21,200 X 1 X
ANALOG DEVICES COMMON STOCK 032654105 1,362,281 16,500 X 1 X
APACHE COMMON STOCK 037411105 969,650 16,400 X 1 X
APPLIED MATERIALS COMMON STOCK 038222105 415,188 7,000 X 1 X
AUTOMATIC DATA PROCESSING COMMON STOCK 053015103 254,125 3,800 X 1 X
BJ'S WHOLESALE CLUB COMMON STOCK 05548J106 713,213 20,900 X 1 X
BP AMOCO PLC COMMON STOCK
FOREIGN 055622104 2,231,300 42,100 X 1 X
BANK OF AMERICA CORP COMMON STOCK 060505104 1,751,106 33,434 X 1 X
BANK OF NEW YORK COMMON STOCK 064057102 498,956 8,900 X 1 X
BANK ONE CORPORATION COMMON STOCK 06423A103 266,513 6,900 X 1 X
BAXTER INTL COMMON STOCK 071813109 1,109,394 13,900 X 1 X
BECKMAN COULTER INC COMMON STOCK 075811109 956,350 12,400 X 1 X
BED BATH & BEYOND INC COMMON STOCK 075896100 212,198 8,700 X 1 X
BELLSOUTH COMMON STOCK 079860102 623,875 15,500 X 1 X
BEST BUY COMMON STOCK 086516101 426,288 6,700 X 1 X
BOEING COMMON STOCK 097023105 1,215,900 19,300 X 1 X
BRINKER INT'L COMMON STOCK 109641100 656,725 21,800 X 1 X
BRISTOL-MYERS-SQUIBB COMMON STOCK 110122108 3,501,763 61,300 X 1 X
BROADCOM CORP CL A COMMON STOCK 111320107 414,375 1,700 X 1 X
C I G N A COMMON STOCK 125509109 261,000 2,500 X 1 X
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION VOTING AUTHORITY
--------------------- (SHARES)
TITLE FAIR SHARES OR (A) (B) (C) MANA- ----------------
NAME OF ISSUER OF CUSIP MARKET PRINCIPAL SOLE SHARED SHARED GERS (A) (B) (C)
CLASS NUMBER VALUE AMOUNT OTHER SOLE SHARED NONE
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CALPINE CORP COMMON STOCK 131347106 1,409,063 13,500 X 1 X
CAMDEN PROPERTY TRUST SERI NON-REDEEM P/S 133131201 2,493,750 100,000 X 1 X
CARDINAL HEALTH COMMON STOCK 14149Y108 1,128,800 12,800 X 1 X
CENDANT COPORATION COMMON STOCK 151313103 336,038 30,900 X 1 X
CHASE MANHATTAN CORP NEW COMMON STOCK 16161A108 443,400 9,600 X 1 X
CHEVRON COMMON STOCK 166751107 528,550 6,200 X 1 X
CHIRON COMMON STOCK 170040109 5,548,500 123,300 X 1 X
CINCINNATI FINL CORP COMMON STOCK 172062101 1,792,750 50,500 X 1 X
CINERGY COMMON STOCK 172474108 558,756 16,900 X 1 X
CISCO SYSTEMS, INC. COMMON STOCK 17275R102 5,928,325 107,300 X 1 X
CITIGROUP INC COMMON STOCK 172967101 5,094,473 94,233 X 1 X
CITIZENS UTILITIES 5.0% CO REDEEMABLE P/S 177351202 2,495,500 46,000 X 1 X
CLEAR CHANNEL COMMUNICATIO COMMON STOCK 184502102 661,050 11,700 X 1 X
COCA-COLA COMMON STOCK 191216100 1,317,488 23,900 X 1 X
COLGATE-PALMOLIVE COMMON STOCK 194162103 236,000 5,000 X 1 X
COMCAST CLASS A SPECIAL COMMON STOCK 200300200 843,313 20,600 X 1 X
COMERICA COMMON STOCK 200340107 841,500 14,400 X 1 X
COMPAQ COMPUTER COMMON STOCK 204493100 592,970 21,500 X 1 X
COMPUTER SCIENCES COMMON STOCK 205363104 2,257,200 30,400 X 1 X
CONDUCTUS INC COMMON STOCK 206784100 302,375 20,500 X 1 X
CONSTELLATION ENERGY GROUP COMMON STOCK 210371100 233,825 4,700 X 1 X
CORNING COMMON STOCK 219350105 9,711,900 32,700 X 1 X
COUNTRYWIDE CREDIT INDUSTR COMMON STOCK 222372104 283,125 7,500 X 1 X
CYPRESS SEMICONDUCTOR COMMON STOCK 232806109 494,594 11,900 X 1 X
DELL COMPUTER COMMON STOCK 247025109 653,225 21,200 X 1 X
DIAL CORP. COMMON STOCK 25247D101 488,250 42,000 X 1 X
DISNEY (WALT) COMMON STOCK 254687106 787,950 20,600 X 1 X
DOW CHEMICAL COMMON STOCK 260543103 568,575 22,800 X 1 X
DU PONT DE NEMOURS COMMON STOCK 263534109 378,242 9,128 X 1 X
DUKE ENERGY CORP COMMON STOCK 264399106 823,200 9,600 X 1 X
DYNEGY INC COMMON STOCK 26816Q101 2,057,700 36,100 X 1 X
E M C COMMON STOCK 268648102 4,321,850 43,600 X 1 X
EDISON INTL COMMON STOCK 281020107 388,181 20,100 X 1 X
EL PASO ENERGY CAPITAL TRU NON-REDEEM P/S 283678209 7,765,625 99,400 X 1 X
EL PASO ENERGY CORP DELAWA COMMON STOCK 283905107 1,010,650 16,400 X 1 X
ELAN CORP. PLC (ADR) COMMON STOCK
FOREIGN 284131208 290,175 5,300 X 1 X
EMERSON ELEC COMMON STOCK 291011104 730,300 10,900 X 1 X
ENRON COMMON STOCK 293561106 2,917,913 33,300 X 1 X
EQUITY RESIDENTIAL PROPERT NON-REDEEM P/S 29476L859 2,262,500 100,000 X 1 X
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION VOTING AUTHORITY
--------------------- (SHARES)
TITLE FAIR SHARES OR (A) (B) (C) MANA- ----------------
NAME OF ISSUER OF CUSIP MARKET PRINCIPAL SOLE SHARED SHARED GERS (A) (B) (C)
CLASS NUMBER VALUE AMOUNT OTHER SOLE SHARED NONE
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
EXXON COMMON STOCK 30231G102 5,274,239 59,178 X 1 X
FREDDIE MAC COMMON STOCK 313400301 2,449,031 45,300 X 1 X
FEDERAL NAT'L MORT. ASSOC COMMON STOCK 313586109 879,450 12,300 X 1 X
FIRSTAR CORPORATION COMMON STOCK 33763V109 917,375 41,000 X 1 X
FISERV INC. COMMON STOCK 337738108 458,044 7,650 X 1 X
FLEET BOSTON FINANCIAL COR COMMON STOCK 339030108 1,836,276 47,084 X 1 X
GATEWAY INC COMMON STOCK 367626108 1,439,900 30,800 X 1 X
GENERAL DYNAMICS COMMON STOCK 369550108 804,000 12,800 X 1 X
GENERAL ELECTRIC COMMON STOCK 369604103 10,562,581 183,100 X 1 X
GENERAL MOTORS COMMON STOCK 370442105 864,500 13,300 X 1 X
GENERAL MOTORS CL H COMMON STOCK 370442832 1,007,578 27,100 X 1 X
GILLETTE COMMON STOCK 375766102 293,313 9,500 X 1 X
COLUMBIA HEALTHCARE COMMON STOCK 404119109 1,431,243 38,552 X 1 X
HEWLETT-PACKARD COMMON STOCK 428236103 1,813,900 18,700 X 1 X
HOME DEPOT COMMON STOCK 437076102 2,194,134 41,350 X 1 X
HONEYWELL INTERNATIONAL IN COMMON STOCK 438516106 249,375 7,000 X 1 X
HOUSEHOLD INTL COMMON STOCK 441815107 990,938 17,500 X 1 X
ILLINOIS TOOL WORKS COMMON STOCK 452308109 217,913 3,900 X 1 X
INTEGRATED DEVISE TECHNOLO COMMON STOCK 458118106 515,850 5,700 X 1 X
INTEL COMMON STOCK 458140100 4,210,281 101,300 X 1 X
INTL BUSINESS MACHINES COMMON STOCK 459200101 1,923,750 17,100 X 1 X
INTERPUBLIC GROUP OF COS COMMON STOCK 460690100 810,688 23,800 X 1 X
INTIMATE BRANDS COMMON STOCK 461156101 231,725 12,400 X 1 X
INTUIT INC COMMON STOCK 461202103 535,800 9,400 X 1 X
IVAX CORP COMMON STOCK 465823102 1,035,000 22,500 X 1 X
JDS UNIPHASE CORP COMMON STOCK 46612J101 1,571,813 16,600 X 1 X
JOHNSON & JOHNSON COMMON STOCK 478160104 3,334,781 35,500 X 1 X
KANSAS CITY SOUTHERN INDUS COMMON STOCK 485170302 286,036 32,925 X 1 X
KERR-MCGEE COMMON STOCK 492386107 212,000 3,200 X 1 X
KIMBERLY-CLARK COMMON STOCK 494368103 379,525 6,800 X 1 X
K N ENERGY COMMON STOCK 49455P101 921,094 22,500 X 1 X
KNIGHT-RIDDER COMMON STOCK 499040103 386,175 7,600 X 1 X
LEGG MASON COMMON STOCK 524901105 651,000 11,200 X 1 X
LEHMAN BROS HOLDING COMMON STOCK 524908100 842,175 5,700 X 1 X
LILLY (ELI) COMMON STOCK 532457108 2,433,750 30,000 X 1 X
LINCOLN NATIONAL COMMON STOCK 534187109 1,554,438 32,300 X 1 X
LITTON INDUSTRIES COMMON STOCK 538021106 1,050,156 23,500 X 1 X
LOCKHEED MARTIN COMMON STOCK 539830109 224,128 6,800 X 1 X
LUCENT TECHNOLOGIES INC COMMON STOCK 549463107 1,741,665 56,987 X 1 X
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION VOTING AUTHORITY
--------------------- (SHARES)
TITLE FAIR SHARES OR (A) (B) (C) MANA- ----------------
NAME OF ISSUER OF CUSIP MARKET PRINCIPAL SOLE SHARED SHARED GERS (A) (B) (C)
CLASS NUMBER VALUE AMOUNT OTHER SOLE SHARED NONE
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
MARSH & MC LENNAN COMMON STOCK 571748102 464,625 3,500 X 1 X
MARSHALL & ILSLEY COMMON STOCK 571834100 526,313 10,500 X 1 X
MASCO COMMON STOCK 574599106 316,625 17,000 X 1 X
MCDONALD'S COMMON STOCK 580135101 353,194 11,700 X 1 X
MCGRAW-HILL COMMON STOCK 580645109 228,825 3,600 X 1 X
MEDTRONICS COMMON STOCK 585055106 668,381 12,900 X 1 X
MERCK COMMON STOCK 589331107 4,548,131 61,100 X 1 X
MERRILL LYNCH COMMON STOCK 590188108 1,254,000 19,000 X 1 X
MICROSOFT COMMON STOCK 594918104 5,615,094 93,100 X 1 X
MICRON TECH COMMON STOCK 595112103 211,600 4,600 X 1 X
MILLENNIUM PHARMACEUTICALS COMMON STOCK 599902103 964,013 6,600 X 1 X
MINNESOTA MNG & MFG COMMON STOCK 604059105 364,500 4,000 X 1 X
MORGAN (J.P.) COMMON STOCK 616880100 751,525 4,600 X 1 X
MORGAN STANLEY DEAN WITTER COMMON STOCK 617446448 822,938 9,000 X 1 X
MOTOROLA COMMON STOCK 620076109 1,228,875 43,500 X 1 X
NABORS INDUSTRIES COMMON STOCK 629568106 1,048,000 20,000 X 1 X
NATIONAL AUSTRALIA BANK 7. NON-REDEEM P/S 632525309 1,012,500 40,000 X 1 X
NATIONWIDE FINANCIAL COMMON STOCK 638612101 1,345,500 36,000 X 1 X
NETWORK APPLIANCE INC COMMON STOCK 64120L104 343,913 2,700 X 1 X
NEXTEL COMMUNICATIONS INC COMMON STOCK 65332V103 776,050 16,600 X 1 X
NORTEL NETWORKS CORP COMMON STOCK
FOREIGN 656568102 2,019,169 33,900 X 1 X
NSTAR COMMON STOCK 67019E107 330,050 8,200 X 1 X
OCEAN ENERGY INC COMMON STOCK 67481E106 651,463 42,200 X 1 X
OGDEN COMMON STOCK 676346109 356,694 26,300 X 1 X
ORACLE SYSTEMS COMMON STOCK 68389X105 3,890,250 49,400 X 1 X
PECO ENERGY CO COMMON STOCK 693304107 1,071,956 17,700 X 1 X
PG & E CORP COMMON STOCK 69331C108 471,656 19,500 X 1 X
PE CORP - PE BIOSYSTEMS GR COMMON STOCK 69332S102 1,514,500 13,000 X 1 X
THE PMI GROUP COMMON STOCK 69344M101 1,253,375 18,500 X 1 X
PNC FINANCIAL SERVICES GRO COMMON STOCK 693475105 383,500 5,900 X 1 X
PPL CORPORATION COMMON STOCK 69351T106 580,325 13,900 X 1 X
PAYCHEX COMMON STOCK 704326107 2,308,688 43,975 X 1 X
PEPSICO COMMON STOCK 713448108 713,000 15,500 X 1 X
PFIZER COMMON STOCK 717081103 6,044,094 134,500 X 1 X
PHILLIPS PETROLEUM COMMON STOCK 718507106 1,449,525 23,100 X 1 X
PITNEY BOWES COMMON STOCK 724479100 2,689,638 68,200 X 1 X
PRECISION CASTPARTS COMMON STOCK 740189105 790,525 20,600 X 1 X
PROCTER & GAMBLE COMMON STOCK 742718109 837,500 12,500 X 1 X
PROTECTIVE LIFE CORP COMMON STOCK 743674103 708,038 23,700 X 1 X
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION VOTING AUTHORITY
--------------------- (SHARES)
TITLE FAIR SHARES OR (A) (B) (C) MANA- ----------------
NAME OF ISSUER OF CUSIP MARKET PRINCIPAL SOLE SHARED SHARED GERS (A) (B) (C)
CLASS NUMBER VALUE AMOUNT OTHER SOLE SHARED NONE
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
PROVIDIAN FINANCIAL CORP COMMON STOCK 74406A102 1,143,000 9,000 X 1 X
QUALCOM COMMON STOCK 747525103 456,000 6,400 X 1 X
QUANTUM COMMON STOCK 747906204 435,306 28,900 X 1 X
QWEST COMMUNICATIONS INTL COMMON STOCK 749121109 2,071,446 43,099 X 1 X
RADIOSHACK CORP COMMON STOCK 750438103 665,638 10,300 X 1 X
RATIONAL SOFTWARE CORP COMMON STOCK 75409P202 888,000 12,800 X 1 X
READERS DIGEST COMMON STOCK 755267101 702,719 19,900 X 1 X
ROHM & HAAS COMMON STOCK 775371107 309,428 10,647 X 1 X
ROYAL BK SCOTLND REDEEMABLE P/S 780097804 746,625 33,000 X 1 X
ROYAL DUTCH PETROLEUM COMMON STOCK
FOREIGN 780257804 1,132,819 18,900 X 1 X
SBC COMMUNICATIONS COMMON STOCK 78387G103 2,453,900 49,078 X 1 X
SPDR S&P DEP RCPT TRADES A COMMON STOCK 78462F103 129,951,900 904,800 X 1 X
SAFEWAY INC COMMON STOCK 786514208 224,100 4,800 X 1 X
ST. PAUL COMMON STOCK 792860108 3,136,275 63,600 X 1 X
SCHERING-PLOUGH COMMON STOCK 806605101 767,250 16,500 X 1 X
SCHLUMBERGER COMMON STOCK 806857108 1,333,463 16,200 X 1 X
SCHWAB CHARLES CORP NEW COMMON STOCK 808513105 388,725 10,950 X 1 X
SEPRACOR INC COMMON STOCK 817315104 944,694 7,700 X 1 X
SIEBEL SYSTEMS INC COMMON STOCK 826170102 289,413 2,600 X 1 X
SIMON PROPERTY GROUP 6.5% NON-REDEEM P/S 828806406 3,500,000 50,000 X 1 X
SOUTHERN COMMON STOCK 842587107 1,424,006 43,900 X 1 X
SOVEREIGN BANCORP COMMON STOCK 845905108 388,500 42,000 X 1 X
SPRINT CORP (PCS GROUP) COMMON STOCK 852061506 252,450 7,200 X 1 X
STARBUCKS, CORP COMMON STOCK 855244109 348,544 8,700 X 1 X
STORAGE TECH COMMON STOCK 862111200 379,750 28,000 X 1 X
SUIZA FOODS CORP COMMON STOCK 865077101 243,300 4,800 X 1 X
SUMMIT BANCORP COMMON STOCK 866005101 634,800 18,400 X 1 X
SUN MICROSYSTEMS COMMON STOCK 866810104 3,624,387 31,044 X 1 X
SUNGARD DATA SYSTEMS COMMON STOCK 867363103 582,250 13,600 X 1 X
SUN CO. COMMON STOCK 86764P109 1,029,013 38,200 X 1 X
SYBASE INC COMMON STOCK 871130100 1,462,800 63,600 X 1 X
SYBRON CORP COMMON STOCK 87114F106 734,400 30,600 X 1 X
SYMANTEC CORP. COMMON STOCK 871503108 431,200 9,800 X 1 X
T R W COMMON STOCK 872649108 670,313 16,500 X 1 X
TXU CORPORATION (HLDG) COMMON STOCK 873168108 1,386,875 35,000 X 1 X
TARGET CORP COMMON STOCK 87612E106 276,750 10,800 X 1 X
TENET HEALTHCARE COMMON STOCK 88033G100 803,888 22,100 X 1 X
TEXAS INSTRUMENTS COMMON STOCK 882508104 1,297,656 27,500 X 1 X
3 COM COMMON STOCK 885535104 970,888 50,600 X 1 X
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION VOTING AUTHORITY
--------------------- (SHARES)
TITLE FAIR SHARES OR (A) (B) (C) MANA- ----------------
NAME OF ISSUER OF CUSIP MARKET PRINCIPAL SOLE SHARED SHARED GERS (A) (B) (C)
CLASS NUMBER VALUE AMOUNT OTHER SOLE SHARED NONE
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
TIME WARNER COMMON STOCK 887315109 2,957,850 37,800 X 1 X
TORCHMARK COMMON STOCK 891027104 1,674,313 60,200 X 1 X
TRANSWITCH CORPORATION COMMON STOCK 894065101 478,125 7,500 X 1 X
TYCO INTERNATIONAL COMMON STOCK 902124106 1,626,281 31,350 X 1 X
USA NETWORKS COMMON STOCK 902984103 285,188 13,000 X 1 X
USA EDUCATION INC. COMMON STOCK 90390U102 934,838 19,400 X 1 X
UNILEVER N.V. COMMON STOCK
FOREIGN 904784709 1,296,719 26,875 X 1 X
UNION PLANTERS COMMON STOCK 908068109 376,913 11,400 X 1 X
US CELLULAR CORP COMMON STOCK 911684108 5,978,000 85,400 X 1 X
UNITED TECH COMMON STOCK 913017109 803,300 11,600 X 1 X
VALERO ENERGY CORP COMMON STOCK 91913Y100 1,337,125 38,000 X 1 X
VERITAS SOFTWARE CORP COMMON STOCK 923436109 440,200 3,100 X 1 X
VERIZON COMMUNICATIONS COMMON STOCK 92343V104 1,268,772 26,194 X 1 X
VIACOM -CL B COMMON STOCK 925524308 1,794,722 30,679 X 1 X
VIAD CORP COMMON STOCK 92552R109 727,813 27,400 X 1 X
WAL-MART STORES COMMON STOCK 931142103 4,567,063 94,900 X 1 X
WALGREEN COMMON STOCK 931422109 337,644 8,900 X 1 X
WASHINGTON MUTUAL COMMON STOCK 939322103 310,538 7,800 X 1 X
WASTE MANAGEMENT INC COMMON STOCK 94106L109 418,500 24,000 X 1 X
WEATHERFORD INTERNATIONAL COMMON STOCK 947074100 516,000 12,000 X 1 X
WELLS FARGO & CO (NEW) COMMON STOCK 949746101 1,920,188 41,800 X 1 X
WORLDCOM INC. COMMON STOCK 98157D106 730,154 24,038 X 1 X
WRIGLEY COMMON STOCK 982526105 621,463 8,300 X 1 X
XILINX, INC. COMMON STOCK 983919101 342,500 4,000 X 1 X
YAHOO INC COMMON STOCK 984332106 509,600 5,600 X 1 X
TRANSOCEAN SEDCO FOREX INC COMMON STOCK G90078109 237,314 4,048 X 1 X
ADT OPERATIONS INC CONV DEBT 000945AC9 13,989,937.50 4,950,000.00 X 1 X
ALZA CORP. DEBT 022615AC2 33,712,500.00 30,000,000.00 X 1 X
ALZA CORP DEBT 02261WAA7 37,743,750.00 54,900,000.00 X 1 X
AMERICAN INTERNATIONAL GRO DEBT 026874AN7 14,833,500.00 13,200,000.00 X 1 X
ANADARKO PETROLEUM CORP DEBT 032511AP2 19,710,000.00 24,000,000.00 X 1 X
ANALOG DEVICES DEBT 032654AC9 35,621,250.00 34,500,000.00 X 1 X
AUTOMATIC DATA PROCESSING DEBT 053015AC7 12,954,375.00 7,350,000.00 X 1 X
AVON PRODUCTS INC DEBT 054303AN2 7,200,000.00 15,000,000.00 X 1 X
BERKSHIRE HATHAWAY INC DEL DEBT 084670AF5 17,975,062.50 5,550,000.00 X 1 X
BURR-BROWN CORP DEBT 122574AF3 13,154,625.00 9,900,000.00 X 1 X
CUC INTL INC DEBT 126545AD4 18,751,875.00 20,550,000.00 X 1 X
CENTOCOR INC. DEBT 152342AE1 20,975,625.00 16,500,000.00 X 1 X
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<CAPTION>
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ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION VOTING AUTHORITY
--------------------- (SHARES)
TITLE FAIR SHARES OR (A) (B) (C) MANA- ----------------
NAME OF ISSUER OF CUSIP MARKET PRINCIPAL SOLE SHARED SHARED GERS (A) (B) (C)
CLASS NUMBER VALUE AMOUNT OTHER SOLE SHARED NONE
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CLEAR CHANNEL COMM., INC., DEBT 184502AB8 30,972,375.00 28,350,000.00 X 1 X
CLEAR CHANNEL COMMUNICATIO DEBT 184502AE2 40,792,500.00 44,100,000.00 X 1 X
COSTCO DEBT 22160QAC6 28,270,068.75 33,705,000.00 X 1 X
COX COMMUNICATIONS DEBT 224044AW7 7,336,875.00 10,500,000.00 X 1 X
COX COMM. DEBT 224044AX5 22,223,250.00 53,550,000.00 X 1 X
DEUTSCHE BANK FINANCIAL DEBT 25153EBE0 58,350,000.00 30,000,000.00 X 1 X
DEVON ENERGY CORP DEBT 25179MAA1 4,170,562.50 4,350,000.00 X 1 X
DEVON ENERGY CORP. DEBT 25179MAB9 28,259,077.50 29,322,000.00 X 1 X
DEVON ENERGY DEBT 25179MAC7 15,675,000.00 33,000,000.00 X 1 X
DIAMOND OFFSHORE CONV DEBT 25271CAA0 39,063,000.00 34,800,000.00 X 1 X
DIAMOND OFFSHORE DEBT 25271CAB8 19,500,000.00 39,000,000.00 X 1 X
DUPONT PHOTOMASK DEBT 26613XAC5 5,715,000.00 6,000,000.00 X 1 X
ELAN INTL FIN CONV DEBT 284129AA1 30,670,500.00 38,100,000.00 X 1 X
ELAN FINANCE DEBT 284129AC7 43,470,000.00 54,000,000.00 X 1 X
FIRST UNION DEBT 33737PAC9 59,700,000.00 60,000,000.00 X 1 X
GLOBAL MARINE DEBT 379352AM9 13,702,500.00 27,000,000.00 X 1 X
GOLDMAN SACHS / WELLS FARG DEBT 38141GAB0 5,940,000.00 6,000,000.00 X 1 X
HD EXCHANGEABLE TRUST DEBT 40414EAA3 5,685,000.00 6,000,000.00 X 1 X
HEALTH CARE PPTY INVS INC DEBT 421915AC3 8,718,750.00 9,000,000.00 X 1 X
HEALTH MANAGEMENT ASSOC DEBT 421933AA0 19,451,250.00 28,500,000.00 X 1 X
HEWLETT PACKARD CO CONV DEBT 428236AC7 56,985,750.00 77,400,000.00 X 1 X
INTERPUBLIC GROUP DEBT 460690AG5 11,315,625.00 12,750,000.00 X 1 X
INTERPUBLIC GROUP DEBT 460690AJ9 8,386,875.00 9,450,000.00 X 1 X
JACOR COMM INC DEBT 469858AA2 5,280,000.00 6,000,000.00 X 1 X
JACOR COMM INC DEBT 469858AB0 15,150,000.00 30,000,000.00 X 1 X
KERR-MCGEE CORP DEBT 492386AL1 18,878,268.75 19,239,000.00 X 1 X
KERR-MCGEE DEBT 492386AP2 33,920,250.00 27,300,000.00 X 1 X
KOHL'S CORP. DEBT 500255AG9 6,129,375.00 10,500,000.00 X 1 X
LIBERTY MEDIA GROUP DEBT 530715AF8 27,732,375.00 29,700,000.00 X 1 X
LIBERTY MEDIA / AT&T CORP DEBT 530715AG6 7,003,125.00 7,500,000.00 X 1 X
LIBERTY MEDIA DEBT 530715AK7 25,368,750.00 33,000,000.00 X 1 X
LIEBERT CONV DEBT 531735AA6 2,982,000.00 600,000.00 X 1 X
MAGNA INTL INC CONV DEBT 559222AE4 34,439,062.50 35,550,000.00 X 1 X
MERRILL LYNCH - J&J DEBT 590188A40 8,887,500.00 9,000,000.00 X 1 X
MOTOROLA CONV LIQUID YIELD DEBT 620076AJ8 5,692,500.00 6,000,000.00 X 1 X
NABORS INDUSTRIES INC DEBT 629568AC0 10,387,500.00 15,000,000.00 X 1 X
NABORS INDS INC DEBT 629568AD8 6,232,500.00 9,000,000.00 X 1 X
NEWS CORP DEBT 652478AS7 48,782,635.20 43,290,000.00 X 1 X
OMNICOM GROUP INC DEBT 681919AG1 37,805,812.50 24,450,000.00 X 1 X
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
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ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION VOTING AUTHORITY
--------------------- (SHARES)
TITLE FAIR SHARES OR (A) (B) (C) MANA- ----------------
NAME OF ISSUER OF CUSIP MARKET PRINCIPAL SOLE SHARED SHARED GERS (A) (B) (C)
CLASS NUMBER VALUE AMOUNT OTHER SOLE SHARED NONE
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
PERKINELMER INC DEBT 714046AA7 12,250,200.00 18,015,000.00 X 1 X
POTOMAC ELEC PWR CO DEBT 737679BT6 8,595,000.00 9,000,000.00 X 1 X
SCI SYSTEMS INC DEBT 783890AF3 20,024,625.00 20,100,000.00 X 1 X
SOLECTRON CORP. DEBT 834182AG2 24,075,375.00 32,700,000.00 X 1 X
SOLECTRON DEBT 834182AJ6 20,430,937.50 27,750,000.00 X 1 X
SOLECTRON CORP DEBT 834182AK3 51,757,500.00 77,250,000.00 X 1 X
THERMO ELECTRON CORP CONV DEBT 883556AF9 24,773,437.50 26,250,000.00 X 1 X
THERMO INSTR SYS INC., CON DEBT 883556AH5 9,187,500.00 10,500,000.00 X 1 X
THERMO INSTR SYS INC CONV DEBT 883559AC0 8,403,750.00 9,000,000.00 X 1 X
TIMES MIRROR CO. DEBT 887364AE7 16,670,625.00 25,500,000.00 X 1 X
TRANSOCEAN SEDCO FOREX DEBT 893830AA7 22,080,750.00 35,400,000.00 X 1 X
UNITED PARCEL DEBT 911312AB2 12,165,000.00 12,000,000.00 X 1 X
UNIVERSAL HEALTH SERVICES DEBT 913903AJ9 6,660,000.00 12,000,000.00 X 1 X
WEATHERFORD INTERNATIONAL DEBT 947074AA8 14,343,750.00 25,500,000.00 X 1 X
WELLPOINT DEBT 94973HAA6 15,072,000.00 19,200,000.00 X 1 X
XEROX DEBT 984121BB8 14,458,500.00 28,350,000.00 X 1 X
YOUNG & RUBICAM DEBT 987425AA3 5,895,000.00 6,000,000.00 X 1 X
SWISS LIFE FIN. DEBT CP5026911 5,992,800.00 6,000,000.00 X 1 X
TECNOST INTL DEBT EC1437234 3,339.21 3,306.00 X 1 X
SWISS LIFE FINANCE LTD DEBT VV3084256 7,328,520.00 7,200,000.00 X 1 X
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