UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: 03/31/99
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: Mitchell A. Danaher
Title: Assistant Comptroller
Phone: (203) 373-3563
13F File Number:
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: Mitchell A. Danaher
Title: Assistant Comptroller
Phone: (203) 373-3563
Signature, Place, and Date of Signing:
Mitchell A. Danaher Fairfield, CT 06431 April 21, 1999
- ------------------- -------------------- --------------
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
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: 2
Form 13F Information Table Entry Total: 468
Form 13F Information Table Entry Total: $3,662,987
List of Other Included Managers:
No. Form 13F File Number Name
- --- -------------------- ----
01 Crambilt & Carney
02 Employers Reinsurance Company
<PAGE>
<TABLE>
FROM 13F INFORMATION TABLE
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
TITLE OF VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- -------------- ----- ----- -------- ------- --- ------------------------ ---- ------ ----
GLOBALSTAR COMMUNICATIONS COMMON G3930H104 148160 10044760 SH SOLE 10044760
TOMMY HILFIGER ORD SHR COM G8915Z102 492 7000 SH SOLE 7000
ROYAL CARIBBEAN CRUISES LTD COM V7780T103 616 17400 SH SOLE 17400
TEEKAY SHIPPING COM V89564104 330 20000 SH DEFINED 01 20000
AFLAC INC COM 001055102 2022 38700 SH SOLE 38700
AHL SERVICES INC COM 001296102 428 23800 SH SOLE 23800
AMR CORPORATION COM 001765106 1461 23826 SH SOLE 23826
ABACUS DIRECT CORP COM 002553105 886 10800 SH SOLE 10800
ABERCROMBIE & FITCH CO - CL A COM 002896207 1063 11800 SH SOLE 11800
ACTIVISION, INC. COM 004930202 160 12380 SH SOLE 12380
ACTION PERFORMANCE COS INC COM 004933107 429 15400 SH SOLE 15400
ADAPTEC INC CONVT BOND 00651FAC2 839 1000000 PRN DEFINED 01 1000000
ADVENT SOFTWARE INC COM 007974108 550 11400 SH SOLE 11400
AETNA INC COM 008117103 2801 35100 SH SOLE 35100
AIR PRODUCTS AND CHEMICALS INC COM 009158106 1632 47900 SH SOLE 47900
ALLIEDSIGNAL INC COM 019512102 1968 41000 SH SOLE 41000
ALLSTATE CORP COM 020002101 2503 66200 SH SOLE 66200
ALZA CORP COM 022615108 643 14000 SH SOLE 14000
ALZA CORPORATION CONVT BOND 022615AC2 1009 1500000 PRN SOLE 1500000
ALZA CORPORATION CONVT BOND 022615AD0 424 300000 PRN SOLE 300000
AMERADA HESS CORP COM 023551104 1190 24800 SH SOLE 24800
AMERICA ONLINE INC COM 02364J104 23580 186400 SH SOLE 186400
AMERICA WEST CORPORATION COM 023657203 368 20892 SH SOLE 20892
AMERICAN ELECTRIC POWER COM 025537101 781 18700 SH SOLE 18700
AMERICAN PHYSICIAN PART. COM 028880102 2474 416700 SH SOLE 416700
AMERICAN POWER CONVERSION COM 029066107 428 14400 SH SOLE 14400
AHSC HOLDINGS CORPORATION COM 03071P102 456 13000 SH SOLE 13000
AMGEN INC COM 031162100 3296 43800 SH SOLE 43800
AMPHENOL COM 032095101 1809 50000 SH SOLE 50000
ANALOG DEVICES INC COM 032654105 1170 40000 SH SOLE 40000
ANNTAYLOR STORES CORP COM 036115103 1245 29000 SH SOLE 29000
APARTMENT INVEST & MGMT CO COM 03748R101 2437 66728 SH SOLE 66728
APEX PC SOLUTIONS INC COM 037945102 285 22350 SH SOLE 22350
APPLIED MICRO CIRCUITS CORP COM 03822W109 818 19500 SH SOLE 19500
ARCHER DANIELS MIDLAND COM 039483102 2496 169966 SH SOLE 169966
ARCHSTONE COMNTYS TR PFD 039581202 2134 88000 SH SOLE 88000
ASPECT DEVELOPMENT INC COM 045234101 340 14300 SH SOLE 14300
@ ENTERTAINMENT COM 045920105 9767 1447024 SH SOLE 1447024
ATLANTIC GULF COMMUNITIES CORP COM 048556104 17 20395 SH SOLE 20395
ATLANTIC RICHFIELD COM 048825103 2575 40200 SH SOLE 40200
AUTHENTIC FITNESS COM 052661105 28721 1809200 SH SOLE 1809200
AUTOMATIC DATA PROCESSING CONVT BOND 053015AC7 1320 1200000 PRN SOLE 1200000
AVNET INC COM 053807103 290 5827 SH SOLE 5827
BAKER HUGHES INC COM 057224107 485 21200 SH SOLE 21200
BANK ONE CORP COM 06423A103 2145 38950 SH SOLE 38950
BANKAMERICA CORP COM 06605F102 5737 82108 SH SOLE 82108
BANKBOSTON CORPORATION COM 06605R106 5234 119800 SH SOLE 119800
BAXTER INTERNATIONAL INC COM 071813109 2390 35700 SH SOLE 35700
BEAR STEARNS COMPANIES INC COM 073902108 2720 59535 SH SOLE 59535
BELL ATLANTIC CORP COM 077853109 2134 40838 SH SOLE 40838
BERGEN BRUNSWIG CORP COM 083739102 1017 46500 SH SOLE 46500
BERKSHIRE HATWY COM 084670108 4830 65 SH SOLE 65
BEST BUY COMPANY INC COM 086516101 2037 41000 SH SOLE 41000
BINDVIEW DEVELOPMENT CORP COM 090327107 369 16300 SH SOLE 16300
BIOMET INC COM 090613100 831 19300 SH SOLE 19300
BLYTH INDUSTRIES INC COM 09643P108 580 23250 SH SOLE 23250
BUILDING ONC SERVICES CORP COM 120114103 177 10100 SH SOLE 10100
BURLINGTON NORTHERN SANTA FE COM 12189T104 2383 71800 SH SOLE 71800
BURLINGTON RESOURCES COM 122014103 3188 80700 SH SOLE 80700
CDW COMPUTER CENTERS INC COM 125129106 220 3400 SH SOLE 3400
CEC ENTERTAINMENT INC COM 125137109 519 16300 SH SOLE 16300
CIGNA CORP COM 125509109 2612 31000 SH SOLE 31000
CKE RESTAURANTS INC COM 12561E105 446 23069 SH SOLE 23069
CSX CORPORATION COM 126408103 1881 50500 SH SOLE 50500
CABLEVISION SYSTEMS COM 12686C109 1284 17100 SH SOLE 17100
CAMDEN PROPERTY TRUST COM 133131102 498 20000 SH SOLE 20000
CAPITAL ONE FINANCIAL CORP COM 14040H105 897 6500 SH SOLE 6500
CHAMPION INTERNATIONAL COM 158525105 1288 29900 SH SOLE 29900
CHANCELOR MEDIA CORP COM 158915108 920 20000 SH SOLE 20000
CHASE MANHATTAN CORP NEW COM 16161A108 5265 64600 SH SOLE 64600
CHEVRON COM 166751107 2850 47608 SH SOLE 47608
CHUBB CORP COM 171232101 3349 55479 SH SOLE 55479
CINNCINNATI BELL INC COM 171870108 821 36400 SH SOLE 36400
CITADEL COMMUNICATIONS CORP COM 172853202 491 18100 SH SOLE 18100
CINTAS CORP COM 172908105 1800 25220 SH SOLE 25220
CIRCUS CIRCUR ENTERPR INC COM 172909103 1523 81200 SH SOLE 81200
CITIGROUP INC COM 172967101 4820 76500 SH SOLE 76500
CLARIFY INC COM 180492100 278 11000 SH SOLE 11000
COACH USA INC COM 18975L106 451 16100 SH SOLE 16100
COASTAL CORP COM 190441105 1060 29900 SH SOLE 29900
COGNEX CORP COM 192422103 419 17600 SH SOLE 17600
COMPAQ COMPUTER CORP COM 204493100 3402 107987 SH SOLE 107987
COMPDENT CORP COM 20449F103 8033 446300 SH SOLE 446300
COMPLETE BUSINESS SOLUTIONS COM 20452F107 516 30000 SH SOLE 30000
COMPUTER SCIENCES CORP COM 205363104 701 12100 SH SOLE 12100
COMVERSE TECHNOLOGY INC COM 205862402 2230 27917 SH SOLE 27917
CONAGRA INC COM 205887102 1841 68200 SH SOLE 68200
CONCORD COMMUNICATIONS INC COM 206186108 683 12000 SH SOLE 12000
CONCORD EFS INC COM 206197105 603 20175 SH SOLE 20175
CONOCO INC COM 208251306 1549 66100 SH SOLE 66100
CONSECO INC COM 208464107 714 22145 SH SOLE 22145
CONSOLIDATED STORES CORP COM 210149100 714 26700 SH SOLE 26700
CONVERGYS CORP COM 212485106 1210 67000 SH SOLE 67000
COOPER CAMERON CORP COM 216640102 480 15100 SH SOLE 15100
COOPER INDUSTRIES INC COM 216669101 3207 72688 SH SOLE 72688
COX COMMUNICATIONS INC COM 224044107 805 10600 SH SOLE 10600
CROWN CORK & SEAL CO INC COM 228255105 1177 43500 SH SOLE 43500
DANA CORP COM 235811106 2430 68700 SH SOLE 68700
DANAHER CORP COM 235851102 2377 47300 SH SOLE 47300
DEERE & CO COM 244199105 1773 45900 SH SOLE 45900
DELL COMPUTER CORP COM 247025109 6817 178800 SH SOLE 178800
DENDRITE INTERNATIONAL INC COM 248239105 385 17500 SH SOLE 17500
DIAL CORP COM 25247D101 1027 31000 SH SOLE 31000
DIAMOND TECH PARTNERS INC COM 252762109 528 25600 SH SOLE 25600
DOLLAR TREE STORES INC COM 256747106 447 12750 SH SOLE 12750
DREYERS GRAND COM 261878102 43865 2900176 SH SOLE 2900176
DUPONT E I DE NEMOURS & CO COM 263534109 2332 41600 SH SOLE 41600
ESAT TELECOMM GROUP COM 26883Y102 2872 68988 SH SOLE 68988
E*TRADE GROUP INC COM 269246104 304 5300 SH SOLE 5300
EASTMAN KODAK COM 277461109 2244 34200 SH SOLE 34200
ECLIPSYS CORP COM 278856109 322 13700 SH SOLE 13700
ELECTRONIC DATA SYSTEMS CORP COM 285661104 1096 21900 SH SOLE 21900
EMERSON ELECTRIC CO COM 291011104 1794 33100 SH SOLE 33100
ENERGY EAST CORP COM 29266M109 768 15000 SH SOLE 15000
EXPRESS SCRIPTS A COM 302182100 1095 14200 SH SOLE 14200
FAMILY DOLLAR STORES COM 307000109 1691 78400 SH SOLE 78400
FREDDIE MAC COM 313400301 2407 42700 SH SOLE 42700
FANNIE MAE COM 313586109 3430 51100 SH SOLE 51100
FEDERATED DEPT STORES INC NEW COM 31410H101 2938 77200 SH SOLE 77200
FINOVA GROUP INC COM 317928109 1435 28000 SH SOLE 28000
FIRST DATA CORP COM 319963104 1560 37200 SH SOLE 37200
FIRSERV INC COM 337738108 1491 28300 SH SOLE 28300
FIRSTENERGY CORP COM 337932107 983 33600 SH SOLE 33600
FLEET FINANCIAL GROUP COM 338915101 1116 28800 SH SOLE 28800
FORT JAMES CORP COM 347471104 4394 109008 SH SOLE 109008
FORT JAMES CORP COM 347471104 2415 73600 SH SOLE 73600
FOUNDATION HEALTH SYSTEMS COM 350404109 1155 110700 SH SOLE 110700
FRONTIER CORPORATION COM 35906P105 877 16900 SH SOLE 16900
FURNITURE BRANDS INTL INC COM 360921100 1270 56900 SH SOLE 56900
GTE CORPORATION COM 362320103 2444 41200 SH SOLE 41200
GANNETT CO COM 364730101 2204 34500 SH SOLE 34500
GATEWAY 2000 INC COM 367833100 3905 61200 SH SOLE 61200
GENERAL INSTRUMENT CORP COM 370120107 810 26600 SH SOLE 26600
GENERAL MOTORS CORP COM 370442105 2642 30300 SH SOLE 30300
GOODYEAR TIRE & RUBBER COM 382550101 1883 36300 SH SOLE 36300
GREENPOINT FINANCIAL CORP COM 395384100 1621 48400 SH SOLE 48400
HEALTH & REHABILITATION COM 40426W101 476 34000 SH SOLE 34000
HALLIBURTON COMPANY COM 406216101 1973 52600 SH SOLE 52600
HEALTHSOUTH CORPORATION CONVT BOND 421924AF8 16327 19350000 PRN SOLE 19350000
JACK HENRY & ASSOCIATES INC COM 426281101 448 12700 SH SOLE 12700
HILTON HOTELS CORP COM 432848109 855 59200 SH SOLE 59200
HOUSEHOLD INTERNATIONAL INC COM 441815107 1080 24000 SH SOLE 24000
IDEXX LABORATORIES INC COM 45168D104 554 24100 SH SOLE 24100
INFOSEEK CORP COM 45678M107 852 10500 SH SOLE 10500
INSIGHT ENTERPRISES INC COM 45765U103 811 37725 SH SOLE 37725
INTERNATIONL BUSINESS MACHINES COM 459200101 4865 28400 SH SOLE 28400
INTL NETWORK SERVICES COM 460053101 988 15200 SH SOLE 15200
INTERNATIONAL PAPER CO COM 460146103 1958 43200 SH SOLE 43200
INTERVOICE INC COM 461142101 550 45500 SH SOLE 45500
INTEVAC INC CONVT BOND 461148AC2 685 1000000 PRN DEFINED 01 1000000
INTUIT INC COM 461202103 1256 13300 SH SOLE 13300
JABIL CIRCUIT INC COM 466313103 1011 26300 SH SOLE 26300
JOHNSON & JOHNSON COM 478160104 607 6600 SH SOLE 6600
KLA INSTRUMENTS CORP COM 482480100 542 10500 SH SOLE 10500
KAYNAR COM 486605108 28063 1000000 SH SOLE 1000000
KELLSTROM INDS INC COM 488035106 195 13800 SH SOLE 13800
KENDLE INTERNATIONAL INC COM 48880L107 346 19500 SH SOLE 19500
KIMBERLY-CLARK CORP COM 494368103 1658 33700 SH SOLE 33700
KIMCO REALTY CORP COM 49446R109 546 14000 SH SOLE 14000
KRAUSE FURNITURE COM 500760202 8438 5000000 SH SOLE 5000000
KROLL-O'GARA COMPANY COM 501050108 361 13400 SH SOLE 13400
LSI LOGIC CORP COM 502161102 480 18000 SH SOLE 18000
LADISH COMPANY INC COM 505754200 1387 173334 SH SOLE 173334
ESTEE LAUDER COMPANY COM 518439104 1579 17000 SH SOLE 17000
LEARNING TREE COMPANY INC COM 522008101 1197 42000 SH SOLE 42000
LEGATO SYSTEMS INC COM 524651106 1743 35000 SH SOLE 35000
LEXMARK INTL GROUP INC COM 529771107 1722 18200 SH SOLE 18200
LINEAR TECHNOLOGY COM 535678106 1040 20200 SH SOLE 20200
LINENS 'N THINGS COM 535679104 1295 30700 SH SOLE 30700
LOEWS CORP COM 540424108 992 12400 SH SOLE 12400
LYCOS INC COM 550818108 380 4100 SH SOLE 4100
M&T BANK CORPORATION COM 55261F104 823 1680 SH SOLE 1680
MBIA INC COM 55262C100 495 8400 SH SOLE 8400
MBNA CORP COM 55262L100 2896 127650 SH SOLE 127650
MCI WORLDCOM INC COM 55268B106 5056 55555 SH SOLE 55555
MGIC INVESTMENT CORP COM 552848103 2354 68600 SH SOLE 68600
MGM GRAND INC COM 552953101 1854 51500 SH SOLE 51500
MAC-GRAY COM 554153106 400 35154 SH SOLE 35154
MACROMEDIA INC COM 556100105 1087 26300 SH SOLE 26300
MAGNA INTERNATIONAL COM 559222401 594 10000 SH SOLE 10000
MASCO CORP COM 574599106 2314 84900 SH SOLE 84900
MAXIM INTEGRATED PRODUCTS COM 57772K101 965 18900 SH SOLE 18900
MAY DEPARTMENT STORES COM 577778103 984 25900 SH SOLE 25900
MCGRAW-HILL COMPANIES INC COM 580645109 1448 26200 SH SOLE 26200
MEDIAONE GROUP INC COM 58440J104 506 7500 SH SOLE 7500
MEDICAL MANAGER CORP COM 58461C103 469 21200 SH SOLE 21200
MEDICIS PHARMACEUTICAL COM 584690309 581 22350 SH SOLE 22350
MEDQUIST INC COM 584949101 558 19300 SH SOLE 19300
MEDTRONIC COM 585055106 2502 35800 SH SOLE 35800
MERCURY INTERACTIVE CORP COM 589405109 1111 33800 SH SOLE 33800
METAMOR WORLDWIDE INC COM 59133P100 266 18650 SH SOLE 18650
METRO INFORMATION SVCS INC COM 59162P104 319 17500 SH SOLE 17500
FRED MYER INC COM 592907109 3225 52650 SH SOLE 52650
MICROFIELD GRAPHICS COMMON 59506W104 11 8875 SH SOLE 8875
MICROSOFT COM 594918104 10196 113746 SH SOLE 113746
MICRON TECHNOLOGY INC COM 595112103 825 17400 SH SOLE 17400
MIDCOAST ENERGY RESOURCES COM 59563W104 209 12383 SH SOLE 12383
MIDAMERICAN ENERGY COM 595920109 536 20000 SH SOLE 20000
MILLENNIUM PHARMACEUTICALS COM 599902103 479 14600 SH SOLE 14600
MIRAGE RESORTS INC COM 60462E104 1657 75950 SH SOLE 75950
MOHAWK INDUSTRIES INC COM 608190104 647 23980 SH SOLE 23980
MOTIVEPOWER INDUSTRIES INC COM 61980K101 550 22000 SH SOLE 22000
MOTOROLA INC COM 620076109 1056 14600 SH SOLE 14600
NABI INC CONVT BOND 628716AB8 915 1500000 PRN SOLE 1500000
NATIONAL DATA CORP COM 635621105 3237 72957 SH SOLE 72957
NATIONAL OIL WELL COM 637071101 24027 2135800 SH SOLE 2135800
NETWORK APPLIANCE INC COM 64120L104 2267 43800 SH SOLE 43800
NEW ERA OF NETWORKS INC. COM 644312100 1100 20000 SH SOLE 20000
NOBLE AFFILIATES INC COM 654894104 894 27285 SH SOLE 27285
NORTHERN TRUST CORP COM 665859104 1161 12900 SH SOLE 12900
NOVASTAR FINANCIAL COM 669947400 4125 666666 SH SOLE 666666
INTL TECHNOLOGY CORP CONVT BOND 670839AA7 669 700000 PRN DEFINED 01 700000
OCCIDENTAL PETROLEUM CORP COM 674599105 1014 59200 SH SOLE 59200
OFFICE DEPOT INC COM 676220106 1094 30600 SH SOLE 30600
OMNICOM GROUP COM 681919106 2170 43730 SH SOLE 43730
OMNICOM GROUP CV COM 681919106 1263 16800 SH SOLE 16800
ON COMMAND (SPECTRAVISION) COM 682160106 8389 932117 SH SOLE 932117
ON COMMAND (SPECTRAVISION) Warrants 682160122 816 296900 SH SOLE 296900
PC CONNECTION INC COM 69318J100 191 14300 SH SOLE 14300
PPG INDUSTRIES INC COM 693506107 1312 25700 SH SOLE 25700
PRI AUTOMATION INC COM 69357H106 299 11200 SH SOLE 11200
PAINE WEBBER GROUP INC COM 695629105 1251200 31523600 SH SOLE 3152360
PAPA JOHN'S INTERNATIONAL INC COM 698813102 1032 23200 SH SOLE 23200
PARAMETRIC TECHNOLOGY COM 699173100 773 37500 SH SOLE 37500
PAYCHEX INC COM 704326107 334 6800 SH SOLE 6800
PEPSICO INC COM 713448108 887 22600 SH SOLE 22600
PEREGRINE SYSTEMS INC COM 71366Q101 865 29700 SH SOLE 29700
PERKIN ELMER CORP COM 714041100 779 8600 SH SOLE 8600
PHARMACIA & UPJOHN INC COM 716941109 1038 17445 SH SOLE 17445
PHAR-MOR INC Warrants 717113112 116 131664 SH SOLE 131664
PHAR-MOR INC COM 717113203 598 99299 SH SOLE 99299
PHILIP MORRIS COS INC COM 718154107 1235 30500 SH SOLE 30500
PINNACLE SYSTEMS INC. COM 723481107 725 19200 SH SOLE 19200
POLYCOM INC COM 73172K104 363 24800 SH SOLE 24800
POWER INTERGRATIONS INC COM 739276103 431 14700 SH SOLE 14700
PRAXAIR INC COM 74005P104 1749 52100 SH SOLE 52100
PREVIEW TRAVEL COM 74137R101 8650 555555 SH SOLE 555555
PRIME RETAIL INC COM 741570105 785 87264 SH SOLE 87264
PROFESSIONAL DETAILING INC COM 74312N107 447 17800 SH SOLE 17800
PROVINCE HEALTHCARE CO COM 743977100 161 10000 SH SOLE 10000
PROVIDIAN FINANCIAL CORP COM 74406A102 1136 10600 SH SOLE 10600
PROXIM INC COM 744284100 414 14200 SH SOLE 14200
QLOGIC CORP COM 747277101 698 12000 SH SOLE 12000
QUADRAMED CORP COM 74730W101 128 14400 SH SOLE 14400
QUALCOMM CORP COM 747525103 2028 20600 SH SOLE 20600
QUANTUM CORP COM 747906105 965 50800 SH SOLE 50800
QUINTILES TRANSNATIONAL CORP COM 748767100 441 11700 SH SOLE 11700
QWEST COMMUNICATONS INTL COM 749121109 1160 16200 SH SOLE 16200
RF MICRO DEVICES INC COM 749941100 1240 14500 SH SOLE 14500
RAYTHEON CO CL A 755111309 1110 19500 SH SOLE 19500
RAYTHEON CO CL B 755111408 574 10000 SH SOLE 10000
RECYCLING INDUSTRIES COM 756285102 182 833300 SH SOLE 833300
REDHOOK ALE COM 757473103 3616 714285 SH SOLE 714285
REMEDY CORP COM 759548100 196 13600 SH SOLE 13600
RENTAL SERVICE CORP COM 76009V102 301 18100 SH SOLE 18100
ROBOTIC VISION COM 771074101 3187 1133000 SH SOLE 1133000
ROCHESTER G & E COM 771367109 431 15000 SH SOLE 15000
SCI SYSTEMS INC COM 783890106 697 23100 SH SOLE 23100
SCP POOL CORP COM 784028102 799 53259 SH SOLE 53259
SPX CORP COM 784635104 217 4319 SH SOLE 4319
ST. PAUL COMPANIES COM 792860108 1995 62100 SH SOLE 62100
SCHLUMBERGER LTD COM 806857108 1520 26100 SH SOLE 26100
SEAGATE TECHNOLOGY INC COM 811804103 1280 47400 SH SOLE 47400
SEALED AIR CORP COM 81211K100 275 5500 SH SOLE 5500
SEARS ROEBUCK & CO COM 812387108 1787 39700 SH SOLE 39700
SERVICE CORPORATION INTNL COM 817565104 710 19933 SH SOLE 19933
SERVICO CORPORATION COM 817648108 78 15672 SH SOLE 15672
SILICON GRAPHICS COM 827056102 411 20000 SH SOLE 20000
SMALL FRY SNACK FOODS COM 831912100 2931 888300 SH SOLE 888300
SMITH INTERNATIONAL INC COM 832110100 719 17228 SH SOLE 17228
SOLECTRON CORP COM 834182107 524 11100 SH SOLE 11100
SS&C TECHNOLOGIES INC COM 85227Q100 208 16500 SH SOLE 16500
STANDARD CHEMICAL CORP CONVT BOND 853258AA9 494 644000 PRN SOLE 644000
STARWOOD HOTELS & RESORTS COM 85590A203 4741 159700 SH SOLE 159700
STATE STREET CORP COM 857477103 557 6700 SH SOLE 6700
STEEL DYNAMICS COM 858119100 68960 4310000 SH SOLE 4310000
STORAGE TECHNOLOGY CORP COM 862111200 3005 113650 SH SOLE 113650
SUIZA FOODS COM 865077101 408 11235 SH SOLE 11235
SUN INC CONVT BOND 866762AG2 469 500000 PRN SOLE 500000
SUNGARD DATA SYSTEMS INC COM 867363103 1187 28700 SH SOLE 28700
SYMBOL TECHNOLOGIES INC COM 871508107 874 19000 SH SOLE 19000
TCA CABLE TV INC COM 872241104 1040 23400 SH SOLE 23400
THE TJX COMPANIES COM 872540109 1221 36100 SH SOLE 36100
TRW INC COM 872649108 202 4200 SH SOLE 4200
TARRANT APPAREL GROUP COM 876289109 455 12100 SH SOLE 12100
TENET HEALTHCARE COM 88033G100 1723 91900 SH SOLE 91900
TENNECO COM 88037E101 823 27900 SH SOLE 27900
TERADYNE INC COM 880770102 841 15200 SH SOLE 15200
TETRA TECH INC COM 88162G103 647 31375 SH SOLE 31375
TEXACO INC COM 881694103 1111 20300 SH SOLE 20300
TEXAS UTILITIES CO COM 882848104 1607 35900 SH SOLE 35900
TOWER REALTY TRUST, INC. COM 89185E109 2672 138360 SH OTHER 138360
TOYS "R" US INC COM 892335100 3053 171400 SH SOLE 171400
TRANSACTION SYSTEMS ARCHITECTS COM 893416107 725 20200 SH SOLE 20200
TRANSWITH CORP COM 894065101 558 13700 SH SOLE 13700
TRICON GLOBAL RESTAURANTS COM 895953107 612 9100 SH SOLE 9100
UNUM CORPORATION COM 903192102 1534 31300 SH SOLE 31300
U. S. FOODSERVICE COM 90331R101 871 19800 SH SOLE 19800
UNICOM COM 904411104 1140 32000 SH SOLE 32000
UNION PACIFIC RESOURCES GRP COM 907834105 861 84000 SH SOLE 84000
UNIPHASE CORP COM 909149106 819 7800 SH SOLE 7800
UNIROYAL TECHNOLOGY CORP COM 909163107 203 25534 SH SOLE 25534
UNITED HEALTHCARE CORP COM 910581107 3065 58100 SH SOLE 58100
UNITED RENTALS INC COM 911363109 474 18000 SH SOLE 18000
UNOCAL CORP COM 915289102 1890 53800 SH SOLE 53800
VERITAS SOFTWARE CORPORATION COM 923436109 1782 22375 SH SOLE 22375
VIRTUAL FUND.COM COM 92825A909 615 410300 SH SOLE 410300
VITESSE SEMICONDUCTOR CORP COM 928497106 621 13200 SH SOLE 13200
WMX TECHNOLOGIES CONVT BOND 92929QAF4 3072 3000000 PRN SOLE 3000000
WMF GROUP COM 929289106 125 20833 SH SOLE 20833
WASHINGTON MUTUAL INC COM 939322103 6087 147780 SH SOLE 147780
WATERS CORPORATION COM 941848103 1009 10100 SH SOLE 10100
WATSON PHARMACEUTICALS COM 942683103 1319 33100 SH SOLE 33100
WESTERN DIGITAL COM 958102105 667 77900 SH SOLE 77900
WESTPOINT STEVENS INC COM 961238102 1560 53100 SH SOLE 53100
WHITTMAN-HART INC COM 966834103 670 29400 SH SOLE 29400
WHOLE FOODS MARKET INC COM 966837106 268 8900 SH SOLE 8900
WIND RIVER SYSTEMS COM 973149107 269 14175 SH SOLE 14175
XILINX INC COM 983919101 978 25600 SH SOLE 25600
ZIONS BANCORPORATION COM 989701107 1391 20900 SH SOLE 20900
</TABLE>
<PAGE>
<TABLE>
FROM 13F INFORMATION TABLE
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
TITLE OF VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- -------------- ----- ----- -------- ------- --- ------------------------ ---- ------ ----
PANAMERICAN BEVERAGES COM P74823108 272 15059 SH SOLE 02 15059
ROYAL CARIBBEAN CRUISES PFD V7780T111 315 2800 SH SOLE 02 2800
AT&T CORPORATION COM 001957109 32643 409960 SH SOLE 02 409960
AT&T CORP-LIBERTY MEDIA-A COM 001957208 4271 80406 SH SOLE 02 80406
ABBOTT LABORATORIES COM 002824100 23950 498970 SH SOLE 02 498970
ADAPTEC INC COM 00651F108 625 25000 SH SOLE 02 25000
AIR PROD & CHEMS INC COM 009158106 16165 495500 SH SOLE 02 495500
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</TABLE>
