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, 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: Froley, Revy Investment Co., Inc.
Address: 10900 Wilshire Blvd., Suite 900
Los Angeles, CA 90024
13F File Number: 28-10672_
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: June Chastain
Title: Vice Pres.___
Phone: 310 208-4938_
Signature, Place, and Date of Signing:
June Chastain Los Angeles August 11, 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>
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers:
Form 13F Information Table Entry Total: 239
Form 13F Information Table Value Total: $2,206,518
List of Other Included Managers:
No. 13F File Number Name
<PAGE>
<TABLE> <C> <C> <C> <C> <C> <C>
FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTORITY
NAME OF ISSUER TITLE OF CLASS CUSIP NO (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ----------- -------- -------- --------
ADT / TYCO OPERATIONS INC CVT 0.000% 07-06-2000945AC9 38795 15066000 SH DEFINED 0 0 15066000
AT&T CORP COM 001957109 6698 120000 SH DEFINED 0 0 120000
AT&T CORP NEW LIBERTY MEDIA GROUP CL A TRACKI001957208 32744 891005 SH DEFINED 0 0 891005
ASE TEST LIMITED CSN 144A 1.000% 07-01-200207KAA4 15000 15000000 SH DEFINED 0 0 15000000
ADAPTEC INCORPORATED CSN 4.75% 02-01-2000651FAC2 12498 13260000 SH DEFINED 0 0 13260000
ADELPHIA COMMUNICATIONS CORP COM 006848105 492 7735 SH DEFINED 0 0 7735
ADELPHIA COMMUN CVT PFD 5.50% / $11.00 006848402 29213 149427 SH DEFINED 0 0 149427
AFFILIATED COMP SERV CSN 4.000% 03-15-2008190AD2 6696 5002000 SH DEFINED 0 0 5002000
ALZA CORPORATION LYON 0.000% 07-14-2022615AC2 3465 5300000 SH DEFINED 0 0 5300000
ALZA CORPORATION CSD 5.000% 05-01-2022615AD0 29583 21476000 SH DEFINED 0 0 21476000
AMERICA ONLINE INC CSN 4.000% 11-15-202364JAB0 1617 191000 SH DEFINED 0 0 191000
AMERICAN EXPRESS CREDIT CORP 1.125% 02-19-2025818CJ2 24774 20453000 SH DEFINED 0 0 20453000
AMERICAN GENERAL CORP CP MIPS 6.00% / $3.00 SER02637G200 25793 275859 SH DEFINED 0 0 275859
AMERICAN HERITAGE LIFE PRIDES 8.50% / $4.25 026522201 7059 106745 SH DEFINED 0 0 106745
AMERICAN INTL GROUP INC COM 026874107 6676 56934 SH DEFINED 0 0 56934
AIG GROUP CSN 2.250% 07-30-202687QAH1 35637 25455000 SH DEFINED 0 0 25455000
AT HOME CORPORATION CSD 144A 0.5246% 12/28/045919AA5 18861 23430000 SH DEFINED 0 0 23430000
ATHENA NEURO/ELAN EXCH NT 144A 4.750% 11-15-2046854AA3 4489 4275000 SH DEFINED 0 0 4275000
ATHENA NEURO/ELAN EXCH NT EURO 4.750% 11-15-2046854AAT 625 595000 SH DEFINED 0 0 595000
ATHENA NEURO/ELAN EXCH NT 4.750% 11-15-2046854AB1 4387 4178000 SH DEFINED 0 0 4178000
AUTO COMMON/REPUBLIC TRACES 6.50% / $1.55005300A202 1458 81000 SH DEFINED 0 0 81000
AUTOMATIC DATA PROCESS CVT 0.000% 02-20-2053015AC7 27078 23831000 SH DEFINED 0 0 23831000
AVIRON CSN 144A 5.750% 04-01-2053762AA8 1598 1500000 SH DEFINED 0 0 1500000
AVIRON CSN 5.750% 04-01-2053762AC4 5858 5500000 SH DEFINED 0 0 5500000
BEA SYSTEMS INC CSN 4.000% 06-15-2073325AB8 12422 10368000 SH DEFINED 0 0 10368000
BELL ATLANTIC/CWZ CSN EURO 4.250% 09-15-2077853ADT 3852 3772000 SH DEFINED 0 0 3772000
BELL ATLANTIC/CWZ CSN 144A 4.250% 09-15-207785GAC4 6230 6100000 SH DEFINED 0 0 6100000
BERKSHIRE HATHAWAY SR EXCH NTS 1.000% 12-03-2084670AF5 46803 21845000 SH DEFINED 0 0 21845000
BIG FLOWER TRST CVT QUIPS 6.00% / $3.00 089164305 917 15875 SH DEFINED 0 0 15875
BONNEVILLE PACIFIC CORPORATION COM 098904204 419 54052 SH DEFINED 0 0 54052
CNET INCORPORATED CSN 144A 5.000% 03-01-2125945AA3 16059 9645000 SH DEFINED 0 0 9645000
CNF TRANSPORTATION INC TECONS 5.00% / $2.50 12612V205 17715 310112 SH DEFINED 0 0 310112
CNB CAPITAL TRUST CVT PFD 6.00% / $1.50 12613G207 1997 66145 SH DEFINED 0 0 66145
CSC HLDGS INC CVT PFD 8.5% / $2.125 126304203 21786 201720 SH DEFINED 0 0 201720
CUC INTERNATIONAL INC CSN 3.00% 02-15-20126545AD4 825 863000 SH DEFINED 0 0 863000
CVS CORP TR AUTOMATIC COM EX 6.0% / $4.23 (TRA126645209 23667 259715 SH DEFINED 0 0 259715
CANADIAN NATL RAILWAY CVT PFD 5.25% / $2.625 QU136375409 7312 136675 SH DEFINED 0 0 136675
CENDANT CORP CP INCOME PRIDES 7.50% / $3.75 151313301 6016 174390 SH DEFINED 0 0 182390
CENTOCOR INC CSN 144A 4.750% 02-15-2152342AC5 16713 15125000 SH DEFINED 0 0 15125000
CENTOCOR INC CSN 4.750% 02-15-2152342AE1 14792 13386000 SH DEFINED 0 0 13386000
CENTRIS GROUP INC COM 155904105 132 13000 SH DEFINED 0 0 13000
CITIGROUP INC COM 172967101 233 4897 SH DEFINED 0 0 4897
CLEAR CHANNEL COMM INC CSN 2.625% 04-01-2184502AB8 23781 18725000 SH DEFINED 0 0 18725000
COMVERSE TECH INC CSN 144A 4.500% 07-01-2205862AF2 15021 8065000 SH DEFINED 0 0 8065000
CONEXANT SYSTEMS INC CSN 144A 4.250% 05-01-2207142AA8 36398 25700000 SH DEFINED 0 0 25700000
CONSECO INC CVT FELINE PRIDES 7.00% / $3.50 208464602 1251 31120 SH DEFINED 0 0 31120
CONTINENTAL AIRLINES-CL B COM 210795308 227 6025 SH DEFINED 0 0 6025
COSTCO COMPANIES INC CSN 144A 0.00% 08-19-2022160QAA0 14208 15015000 SH DEFINED 0 0 15015000
COSTCO COMPANIES INC CSN 0.00% 08-19-2022160QAC6 10647 11252000 SH DEFINED 0 0 11252000
CREGEM FINANCE CSN EURO 2.750% 01-06-2225301AAT 14840 13630000 SH DEFINED 0 0 13630000
CREDIT SUISSE / UBS CVT EURO 2.000% 02-19-2225401DAT 274 290000 SH DEFINED 0 0 290000
CREDIT SUISSE / NOVARTIS EURO 2.000% 11-10-2225401MLT 486 520000 SH DEFINED 0 0 520000
CREDIT SUISSE/MICROSOFT NOTES 1.000% 04-08-22254C0AM9 25959 26625000 SH DEFINED 0 0 26625000
CYMER STEP UP CSN 3.50% 08-06-20232572AC1 18051 20989000 SH DEFINED 0 0 20989000
DATA PROCESSING CORP CSN 144A 5.250% 04-01-2237823AA7 6664 6835000 SH DEFINED 0 0 6835000
MSDW COMPETITIVE EDGE / B FUND 241941202 84 10020 SH DEFINED 0 0 10020
DEUTSCHE FINANCE EXCH BND EURO 0.000% 02-12-22515309AT 2323 4600000 SH DEFINED 0 0 4600000
DEUTSCHE FINANCE EXCH BND 144A 0.000% 02-12-2251546AB3 1414 2800000 SH DEFINED 0 0 2800000
DIAMOND OFFSHORE CSN 3.750% 02-15-225271CAA0 19713 19812000 SH DEFINED 0 0 19812000
DOUBLECLICK INC CSN 144A 4.750% 03-15-2258609AA4 11940 9590000 SH DEFINED 0 0 9590000
EMC CORPORATION CSN 3.250% 03-15-226865YAA2 5579 1145000 SH DEFINED 0 0 1145000
EVI / WEATHERFORD INTL CVT PFD 5.00% / $2.50 268939402 9858 255225 SH DEFINED 0 0 255225
EDGAR ONLINE INCORPORATED COM 279765101 109 13660 SH DEFINED 0 0 13660
ELAN FINANCE CORP CV LYON 144A 0.000% 12-14-2284129AA1 11672 22830000 SH DEFINED 0 0 22830000
ENRON CORP NW EXCH TR SEC 144A 3.50% 9/1/2004 29356PAA1 1456 800000 SH DEFINED 0 0 800000
EQUITY RESIDENTIAL PPTY CV PFD 7.00% / $1.75 SER29476L883 763 30350 SH DEFINED 0 0 30350
EBRD / MATAV CVT EURO 0.750% 07-02-229875BAA4 6911 6890000 SH DEFINED 0 0 6890000
EXODUS COMMUNICATIONS CSN 144A 5.000% 03-15-2302088AC3 14702 5435000 SH DEFINED 0 0 5435000
FEDERAL-MOGUL FIN TST CP 7.00% / $3.50 313552408 21925 372400 SH DEFINED 0 0 372400
FINANCIAL FEDERAL CORP CN 144A 4.500% 05-01-2317492AA4 957 1030000 SH DEFINED 0 0 1030000
FINANCIAL FEDERAL CORP CSN 4.500% 05-01-2317492AC0 697 750000 SH DEFINED 0 0 750000
FINLAYSON GLBL/SINGAPORE 144A 0.000% 02-19-2317897AC0 14602 9360000 SH DEFINED 0 0 9360000
FINLAYSON GLBL/SINGAPORE EURO 0.000% 02-19-231805999T 23993 15380000 SH DEFINED 0 0 15380000
FINOVA FINANCE T CVT PFD TORPS 5.50% / $2.75 31808E207 5323 76380 SH DEFINED 0 0 76380
FLEETWOOD CAP TST CVT PFD 144A 6.00% / $3.00 339072209 2178 52000 SH DEFINED 0 0 52000
FLEETWOOD CAP TST CVT PFD 6.00% / $3.00 339072407 1180 28180 SH DEFINED 0 0 28180
GOLDMAN SACHS/CITICORP EX NTS 3.000% 08-28-2362276AA5 7776 7250000 SH DEFINED 0 0 7250000
GENZYME CORPORATION CSN 144A 5.250% 06-01-2372917AE4 15805 11350000 SH DEFINED 0 0 11350000
GENZYME CORPORATION CSN 5.250% 06-01-2372917AF1 11237 8070000 SH DEFINED 0 0 8070000
GLOBAL TELESYSTEMS CP 144A 7.25% / $3.625 37936U401 15640 234750 SH DEFINED 0 0 234750
GOLDMAN SACHS GROUP INC COM 38141G104 1066 14750 SH DEFINED 0 0 14750
GOLDMAN SACHS/WELLS FARGO EX N 2.000% 07-01-238141GAB0 1343 1330000 SH DEFINED 0 0 1330000
HNC SOFTWARE CSN 4.750% 03-01-240425PAA5 10674 10850000 SH DEFINED 0 0 10850000
HILTON HOTELS CORP CVT 5.000% 05-15-2432848AL3 504 533000 SH DEFINED 0 0 533000
HOME DEPOT INC CSN 3.250% 10-01-2437076AE2 39631 14320000 SH DEFINED 0 0 14320000
HOUSTON / RELIANCE TWX CP ACES 7.00% / $3.2156 442161204 43389 363845 SH DEFINED 0 0 363845
ITC DELTACOM INC CSN 144A 4.500% 05-15-245031TAJ3 7335 6000000 SH DEFINED 0 0 6000000
IXC COMMUNICATION CVT PFD 7.25% / $7.25 450713805 6567 37825 SH DEFINED 0 0 37825
INGERSOLL RAND CVT PRIDE 6.75% / $1.6875 456867209 1237 41940 SH DEFINED 0 0 41940
INTERIM SERVICES INC CSN 4.500% 06-01-245868PAA8 1068 1249000 SH DEFINED 0 0 1249000
IBM CORP COM 459200101 213 1650 SH DEFINED 0 0 1650
INTERPUBLIC GROUP CVT OID 144A 1.800% 09-16-2460690AD2 5352 4465000 SH DEFINED 0 0 4465000
INTERPUBLIC GROUP CVT OID 1.800% 09-16-2460690AF7 17397 14513000 SH DEFINED 0 0 14513000
INTERPUBLIC GROUP CSN OID 144A 1.870% 06-01-2460690AG5 12719 13900000 SH DEFINED 0 0 13900000
JACOR COMMUNICATIONS CVT LYONS 0.00% 06-12-20469858AA2 842 780000 SH DEFINED 0 0 780000
JACOR COMMUNICATIONS CVT LYONS 0.00% 02-09-20469858AB0 12937 23048000 SH DEFINED 0 0 23048000
JONES INTERCABLE INC COM 480206200 344 7030 SH DEFINED 0 0 7030
KAUFMAN & BROAD HOME CORP CP 8.25% / $0.825 PR486168503 3226 397000 SH DEFINED 0 0 397000
K-MART CORP CVT PFD 7.75% / $3.875 CV498778208 11941 204125 SH DEFINED 0 0 204125
KUSHNER LOCKE CO COM 501337406 1883 289723 SH DEFINED 0 0 289723
LSI LOGIC CORPORATION CSD 144A 4.250% 03-15-2502161AB8 33005 20405000 SH DEFINED 0 0 20405000
LAIDLAW ONE INC 5.75% / $1.221875507307106 8512 236445 SH DEFINED 0 0 236445
ESTEE LAUDER CO INC (TRACES) 6.25% / $3.804 AU518437207 304 3500 SH DEFINED 0 0 3500
ESTEE LAUDER CO ACES TST II 6.25% / $5.406 518438205 17875 188030 SH DEFINED 0 0 188030
LEVEL ONE COMMUNICATIONS CSN 4.000% 09-01-2527295AC3 19202 9860000 SH DEFINED 0 0 9860000
LINCOLN NATIONAL CORP F PRIDES 7.75% / $1.9375 534187604 1097 40350 SH DEFINED 0 0 40350
LOEWS CORP CSN 3.125% 09-15-2540424AL2 202 250000 SH DEFINED 0 0 250000
LORAL SPACE & COMMUN CP 144A 6.00% / $3.00 SER543885404 4530 89700 SH DEFINED 0 0 89700
LUCENT TECHNOLOGIES COM 549463107 260 3860 SH DEFINED 0 0 3860
MITSUBISHI BANK LTD EXCH NOTES 3.000% 11-30-255262XAA2 235 210000 SH DEFINED 0 0 210000
MCI WORLDCOM INC COM 55268B106 6218 72250 SH DEFINED 0 0 72250
MAGNA INTERNATIONAL CSN 5.000% 10-15-2559222AE4 1081 1000000 SH DEFINED 0 0 1000000
MAGNA INTERNATIONAL CSD 144A 4.875% 02-15-2559222AF1 515 525000 SH DEFINED 0 0 525000
MAGNA INTERNATIONAL CSD 4.875% 02-15-2559222AG9 3733 3807000 SH DEFINED 0 0 3807000
MARRIOTT INTL INC LYON 144A 0.000% 03-25-2571900AF6 3960 5510000 SH DEFINED 0 0 5510000
MARRIOTT INTL INC LYON 0.000% 03-25-2571900AH2 2900 4035000 SH DEFINED 0 0 4035000
MCDONALDS CORP COM 580135101 247 6000 SH DEFINED 0 0 6000
MEASUREMENT SPECIALTIES INC COM 583421102 413 34030 SH DEFINED 0 0 34030
MEDIAONE GROUP INC CVT PFD 4.50% / $2.25 58440J203 23240 155125 SH DEFINED 0 0 155125
MEDIAONE GROUP INC / VOD CP 6.25% / $3.632 (P58440J401 25369 280315 SH DEFINED 0 0 280315
MERRILL LYNCH / ENERGY SELECT 0.00% 02-21-2006 590188546 1313 120000 SH DEFINED 0 0 120000
MERRILL LYNCH STRYPES / CIBER 7.87% / $4.26 590188645 2013 47920 SH DEFINED 0 0 47920
MERRILL LYNCH / TWX CVT 0.250% 05-10-2590188JV1 2020 2000000 SH DEFINED 0 0 2000000
MERRILL LYNCH / PHARM BKT CVT 0.250% 04-27-259018S2T0 16564 18202000 SH DEFINED 0 0 18202000
MERRILL LYNCH / KROGER CSN 1.000% 02-08-259018SZ23 1848 2000000 SH DEFINED 0 0 2000000
MICROSOFT CORP COM 594918104 225 2500 SH DEFINED 0 0 2500
MICROSEMI CORP COM 595137100 2052 218892 SH DEFINED 0 0 218892
MINDSPRING ENTERPRISES INC CSN 5.000% 04-15-2602683AA2 407 432000 SH DEFINED 0 0 432000
MONSANTO COMPANY CVT ACES 6.50% / $2.60 611662305 24036 599040 SH DEFINED 0 0 599040
MORGAN STANLEY / SUNW (PERQS) 6.00% / $0.3912 617446240 375 53600 SH DEFINED 0 0 53600
MORGAN STANLEY / MCI WORLDCOM 6.00% / $0.513 03617446257 936 103955 SH DEFINED 0 0 103955
MORGAN STANLEY / AMAT PERQS 6.00% / $2.37 05-617446331 5943 112128 SH DEFINED 0 0 112128
MORGAN STANLEY / GE EXCH NOTE 1.500% 07-31-2617446CN7 1205 900000 SH DEFINED 0 0 900000
MORGAN STANLEY / MCI WORLDCOM 0.000% 03-02-2617446DG1 979 1000000 SH DEFINED 0 0 1000000
MORGAN STANLEY / MCI WORLDCOM 0.000% 03-02-2617446DH9 13585 13880000 SH DEFINED 0 0 13880000
MORGAN STANLEY / SUNW CSN 0.000% 05-30-2617446DJ5 6324 6400000 SH DEFINED 0 0 6400000
MORGAN STANLEY / CISCO EX NTS 0.000% 06-05-2617446DK2 17150 15870000 SH DEFINED 0 0 15870000
MORGAN STANLEY / SCHLUMBERGER 0.00% EX NT 0561744EAA0 1254 1200000 SH DEFINED 0 0 1200000
MORGAN STANLEY / TECH NTS 144A 0.00% 05-01-2061745HAA2 2864 1290000 SH DEFINED 0 0 1290000
MOTOROLA INC CVT NOTE 0.000% 09-27-2620076AJ8 2820 3000000 SH DEFINED 0 0 3000000
MUTUAL RISK MGMT LTD 144A 0.000% 10-30-2628351AA6 601 840000 SH DEFINED 0 0 840000
MUTUAL RISK MGMT CVT 0.000% 10-30-2628351AB4 4566 6380000 SH DEFINED 0 0 6380000
NTL INCORPORATED CVT 144A 7.000% 12-15-2629407AK3 589 375000 SH DEFINED 0 0 375000
NATIONAL AUSTRALIA BANK 7.875% / $1.96875632525309 291 9590 SH DEFINED 0 0 9590
NATIONAL DATA CORPORATION CSN 5.000% 11-01-2635621AA3 14993 14663000 SH DEFINED 0 0 14663000
NATIONAL GRID GROUP CP 144A 6.00% / $1.6375 0636274201 10045 410000 SH DEFINED 0 0 410000
NESTLE HLDGS EURO W/FIX FX 3.000% 06-17-2641069T4T 6803 5790000 SH DEFINED 0 0 5790000
NEWELL FINL TRUST QUIP 144A 5.25% / $2.625 651195208 12028 215750 SH DEFINED 0 0 215750
NEWELL FINL TRUST QUIP 5.25% / $2.625 651195307 4565 81880 SH DEFINED 0 0 81880
NEWS AMERICA HLDGS CVT 0.000% 03-11-2652478AS7 23802 32774000 SH DEFINED 0 0 32774000
NEXTEL COMMUNICATIONS CVT 144A 0.000% 12-23-265332V806 10335 20450 SH DEFINED 0 0 20450
NEXTEL COMMUN CVT SR NTS 144A 4.750% 07-01-265332VAR4 5357 4400000 SH DEFINED 0 0 4400000
NEXTEL STRYPES CVT 7.25% / $1.015 65332Y107 7699 183300 SH DEFINED 0 0 183300
NISOURCE CAP TRUST (PIES) 7.75% / $3.875 65473P303 10932 221400 SH DEFINED 0 0 221400
NORTEL NETWORKS CORP COM 656569100 2453 28253 SH DEFINED 0 0 28253
OFFICE DEPOT INC LYON 0.000% 12-11-2676220AA4 299 325000 SH DEFINED 0 0 325000
OFFICE DEPOT INC SUB LQD YLD 0.000% 11-01-2676220AB2 10640 12648000 SH DEFINED 0 0 12648000
OMNICARE INCORPORATED CSN 5.000% 12-01-2681904AD0 547 750000 SH DEFINED 0 0 750000
OMNICOM GROUP CSN 4.250% 01-03-2681919AE6 1279 500000 SH DEFINED 0 0 500000
OMNICOM GROUP CSD 144A 2.250% 01-06-2681919AF3 973 575000 SH DEFINED 0 0 575000
OMNICOM GROUP CSD 2.250% 01-06-2681919AG1 28141 16627000 SH DEFINED 0 0 16627000
OMNIPOINT CORPORATION CVT PFD 7.00% / $3.50 68212D607 4096 75500 SH DEFINED 0 0 75500
ORBITAL SCIENCES CORP CSD 144A 5.00% 10-01-20685564AB2 1583 1490000 SH DEFINED 0 0 1490000
ORBITAL SCIENCES CORP CSD 5.00% 10-01-20685564AC0 9401 8848000 SH DEFINED 0 0 8848000
OWENS CORNING CAP CVT PFD 144A 6.50% / $3.25 MIP690733209 2053 43000 SH DEFINED 0 0 43000
OWENS ILLINOIS INC CVT PFD 4.75% / $2.375 690768502 8086 188035 SH DEFINED 0 0 188035
PYR ENERGY CORP COM 693677106 406 175450 SH DEFINED 0 0 175450
PAGE AMERICA GROUP INC CVT PFD $0.36 SERIES 1 6954659AT 475 20000 SH DEFINED 0 0 20000
PAGE AMERICA RESTRICTED COM 695472ATT 6 551724 SH DEFINED 0 0 551724
PENNZENERGY CO SR DEB 4.900% 05-15-270931QAA7 529 519000 SH DEFINED 0 0 519000
PENNZENERGY CO SR DEB 4.950% 08-15-270931QAB5 12522 12217000 SH DEFINED 0 0 12217000
PFIZER INC COM 717081103 338 3100 SH DEFINED 0 0 3100
PHILADELPHIA CON FELINE PRIDES 7.00% / $0.70 717528301 4753 455375 SH DEFINED 0 0 455375
PHOTRONICS INCORPORATED CSN 6.000% 06-01-2719405AA0 13588 12480000 SH DEFINED 0 0 12480000
POGO TRUST CO I CVT QUIPS 6.50% / $3.25 SER73044P208 978 19400 SH DEFINED 0 0 19400
PREMIER PARKS INC CVT PFD 7.50% / $4.05 740540307 698 10500 SH DEFINED 0 0 10500
PROLOGIS TRUST CVT PFD 7.00% / $1.75 SER743410300 3470 133800 SH DEFINED 0 0 133800
PROTECTIVE LIFE CO CAP TST II 6.5% / $3.25 743674202 9049 156015 SH DEFINED 0 0 156015
PSINET INCORPORATED CVT PFD 6.75 / $3.375 74437C309 653 14425 SH DEFINED 0 0 14425
QUALCOMM FIN TR CVT PFD 144A 5.75% / $2.875 MI74752R204 10470 51575 SH DEFINED 0 0 51575
QUALCOMM FIN TR CVT PFD MIPS 5.75% / $2.875 74752R402 28929 142505 SH DEFINED 0 0 142505
QUINTILES TRANSNATIONAL CVT 4.250% 05-31-2748767AC4 10150 9052000 SH DEFINED 0 0 9052000
QWEST COMM TRENDS TRT CVT 144A 5.75% / 2.40 11-074912L105 23111 409050 SH DEFINED 0 0 409050
RALSTON / IBC CVT (SAILS) 7.00% / $4.335 751277401 2325 50000 SH DEFINED 0 0 50000
REPUBLIC NB NY SR NT EXCH MRK 1.875% 08-12-276067UAE3 4374 3910000 SH DEFINED 0 0 3910000
RITE AID CORPORATION CSN 5.250% 09-15-2767754AL8 2951 2975000 SH DEFINED 0 0 2975000
SAFEGUARD SCIENTIFIC INC 144A 5.000% 06-15-2786449AD0 15300 15000000 SH DEFINED 0 0 15000000
ST PAUL CAPITAL LLC CVT PFD 6.00% / $3.00 MIP792856205 3184 54198 SH DEFINED 0 0 54198
SALOMON SMITH BARNEY/TELE CVT 0.250% 06-15-279548ECU4 20282 18190000 SH DEFINED 0 0 18190000
SALOMON SMITH BARNEY/TSCM CVT CALL EQ LNKD NTS 79549B727 893 90400 SH DEFINED 0 0 90400
SALOMON SMITH BARNEY HLD DEC C 6.25% / $3.48437579549B867 6752 87400 SH DEFINED 0 0 87400
SALON.COM INCORPORATED COM 79549F108 998 105000 SH DEFINED 0 0 105000
SANDOZ CVT DEB EURO 2.00% 10-06-20800055AAT 13013 9180000 SH DEFINED 0 0 9180000
SANMINA CORPORATION CSN 144A 4.250% 05-01-2800907AA5 37952 34305000 SH DEFINED 0 0 34305000
SEALED AIR CORP CVT PFD 4.00% / $2.00 SER81211K209 26378 422050 SH DEFINED 0 0 422050
SEPRACOR INCORPORATED CSD 144A 6.250% 02-15-2817315AC8 14275 7790000 SH DEFINED 0 0 7790000
SEPRACOR INCORPORATED CSD 6.250% 02-15-2817315AE4 2336 1275000 SH DEFINED 0 0 1275000
SEPRACOR INCORPORATED CSN 144A 7.000% 12-15-2817315AF1 12503 12840000 SH DEFINED 0 0 12840000
SKYTEL COMMUNICATIONS CVT PFD 4.50% / $2.25 83087Q302 9687 263600 SH DEFINED 0 0 263600
SOLECTRON CORP CSD LYON 144A 0.000% 01-27-2834182AG2 22136 37920000 SH DEFINED 0 0 37920000
SOLECTRON CORP CSD LYON 0.000% 01-27-2834182AJ6 2426 4156000 SH DEFINED 0 0 4156000
SOUTHWEST SEC EX TRIMARK DARTS 5.00% / $2.83 MAT845224203 8589 144345 SH DEFINED 0 0 144345
STMICROELECTRONICS CVT 0.000% 06-10-2861012AA0 28972 23440000 SH DEFINED 0 0 23440000
SWISS LIFE FIN/GLAXO CSN 144A 2.000% 05-20-2870883AA3 983 1000000 SH DEFINED 0 0 1000000
SWISS LIFE FIN/MANNESMANN 144A 1.500% 05-20-2870883AC9 18977 13065000 SH DEFINED 0 0 13065000
SWISS LIFE FIN/GLAXO CSN EURO 2.000% 05-20-2870883GGT 992 997000 SH DEFINED 0 0 997000
SWISS LIFE FIN/MANNESMANN EURO 1.500% 05-20-2870883GHT 3668 2525000 SH DEFINED 0 0 2525000
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TCI PACIFIC COMM CVT PFD 5.00% / $5.00 872294202 24277 69861 SH DEFINED 0 0 69861
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TARGETS TRUST III EX NOTES 5.00% / $0.14714287612W106 412 34975 SH DEFINED 0 0 34975
TELEFONICA DE ESPANA CVT 144A 2.000% 07-15-2879385AA0 10537 6435000 SH DEFINED 0 0 6435000
TELEFONICA DE ESPANA EURO 2.000% 07-15-2879385JAT 13870 8470000 SH DEFINED 0 0 8470000
TELEFONOS DE MEXICO CSD 4.250% 06-15-2879403AD5 10302 10002000 SH DEFINED 0 0 10002000
TESORO PETE CORP CVT (PIES) 7.25% / $1.155 07881609408 2025 150000 SH DEFINED 0 0 150000
TEXAS UTILITIES CO CVT (PRIDE) 9.25% / $4.625 882848203 20999 381800 SH DEFINED 0 0 381800
TIMES MIRROR (AOL) PEPS 4.25% / $1.668 887364503 1473 16345 SH DEFINED 0 0 16345
TOSCO FINANCING CVT PFD 144A 5.75% / $2.875 891491201 1994 43525 SH DEFINED 0 0 43525
TOWER AUTOMOTIVE CVT PFD 6.750% / $3.375 891706301 6398 125450 SH DEFINED 0 0 125450
TRIBUNE COMPANY / AOL (PHONES) 2.000% 05-15-2896047305 4793 39615 SH DEFINED 0 0 39615
TRIKON TECHNOLOGIES INC COM 896187101 329 2529770 SH DEFINED 0 0 2529770
TUTOGEN MEDICAL INC COM 901107102 331 293985 SH DEFINED 0 0 293985
UBS FINANCE CVT NOTE EURO 2.750% 06-16-2902617AET 4428 3745000 SH DEFINED 0 0 3745000
UNION PACIFIC CORP TST CP 6.25% / $3.125 907824403 15719 297285 SH DEFINED 0 0 297285
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VODAFONE / AIRTOUCH PLC ADR COM 92857T107 38302 194427 SH DEFINED 0 0 194427
WBK STRYPES TRUST CVT PFD 10.00% / $3.135 929229102 4856 150000 SH DEFINED 0 0 150000
WMX TECHNOLOGIES CSN 2.000% 01-24-292929QAF4 19287 17776000 SH DEFINED 0 0 17776000
WASTE MANAGEMENT INC CSN 4.000% 02-01-294106LAA7 17915 13470000 SH DEFINED 0 0 13470000
WENDY'S FINANCING I TECONS 5.00% / $2.50 950588202 1361 22498 SH DEFINED 0 0 22498
WIND RIVER SYSTEMS CSN 5.00% 08-01-20973149AC1 11941 13725000 SH DEFINED 0 0 13725000
XEROX CORPORATION COM 984121103 354 6000 SH DEFINED 0 0 6000
XEROX CORPORATION CSN 0.570% 04-21-2984121BB8 27498 43050000 SH DEFINED 0 0 43050000
ZIPLINK INCORPORATED COM 989741103 227 18120 SH DEFINED 0 0 18120
LORAL SPACE & COMMUN CP 6.00% / $3.00 SERG56462149 7499 148500 SH DEFINED 0 0 148500
CREDIT SUISSE / ZURICH EURO 2.000% 11-17-2VV3080858 2208 1950000 SH DEFINED 0 0 1950000
</TABLE>
