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: Investment Counselors of Maryland
Address: 803 Cathedral Street
Baltimore, Maryland 21201-5297
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: Robert D. McDorman, Jr.
Title: Principal
Phone: 410-539-3838
Signature, Place, and Date of Signing:
Robert D. McDorman, Jr. Baltimore, Maryland June 30, 2000
Report Type (Check only one.):
{x} 13F Holdings Report.
{ } 13F Notice.
{ } 13F Combination Report.
List of other managers reporting for this Manager:0
I am signing this report as required by the Securities Exchange Act of 1934.
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 348
Form 13F Information Table Value Total: 1658476
List of other Included Managers:0
None
<PAGE>
<TABLE>
FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
AARON RENTS INC COM 002535201 9215 733500 SH SOLE
ABBOTT LABS COM 002824100 735 16500 SH SOLE
ACMAT CLASS A COM 004616207 1400 175000 SH SOLE
ADVANCED MARKETING SERVICES IN COM 00753t105 584 31700 SH SOLE
AEGON N V ORD AMER REG COM 007924103 728 20426 SH SOLE
AFFILIATED COMPUTER SERVICES COM 008190100 15705 475000 SH SOLE
AGCO CORP COM 001084102 123 10000 SH SOLE
AGILENT TECHNOLOGIES INC COM 00846u101 2808 38076 SH SOLE
AKZO NOBEL N V COM 010199305 1002 23832 SH SOLE
168 4000 SH OTHER
ALLEGHENY ENERGY INC COM 017361106 1593 58175 SH SOLE
ALLEGHENY TECHNOLOGIES INC COM 01741R102 333 18500 SH SOLE
ALLIED CAPITAL CORPORATION COM 01903q108 7650 450000 SH SOLE
ALLIED DEVICES CORP COM 019120104 36 12000 SH SOLE
ALLIED ZURICH PLC ADR COM 01959q101 693 29381 SH SOLE
AMERICAN GENERAL CORP COM 026351106 248 4062 SH SOLE
70 1150 SH OTHER
AMERICAN HOME PRODUCTS COM 026609107 3913 66600 SH SOLE
188 3200 SH OTHER
AMERICAN INTL GROUP COM 026874107 7017 59715 SH SOLE
AMETEK INC COM 031100100 8783 501875 SH SOLE
AMGEN INC COM 031162100 534 7600 SH SOLE
AMSOUTH BANCORP COM 032165102 285 18105 SH OTHER
ANALOGIC CORP COM 032657207 9800 245000 SH SOLE
APACHE CORP COM 037411105 12965 220450 SH SOLE
APPLIED PWR INC CL A COM 038225108 31112 928715 SH SOLE
APRIA HEALTHCARE GROUP INC COM 037933108 4471 365000 SH SOLE
APTARGROUP INC COM 038336103 12483 462350 SH SOLE
ARAMEX INT'L LTD COM G04450105 2050 205000 SH SOLE
ARMOR HOLDINGS INC COM 042260109 594 45700 SH SOLE
ARNOLD INDUSTRIES INC COM 042595108 4233 350900 SH SOLE
ASSOCIATES FIRST CAPITAL CORP COM 046008108 986 44182 SH SOLE
AT&T CORP COM 001957109 2489 78707 SH SOLE
95 3000 SH OTHER
AUTODESK INC COM 052769106 8159 235200 SH SOLE
AVERY DENNISON CORP COM 053611109 1087 16200 SH SOLE
AVISTA CORP COM 05379b107 3325 190700 SH SOLE
BAKER HUGHES INC COM 057224107 9505 297025 SH SOLE
BALDOR ELECTRIC CO COM 057741100 4762 255700 SH SOLE
BANK OF AMERICA CORP COM 060505104 5940 138130 SH SOLE
146 3394 SH OTHER
BANK ONE CORP COM 06423a103 3132 117900 SH SOLE
BANTA CORP COM 066821109 2306 121750 SH SOLE
BASIN EXPLORATION INC COM 070107107 6569 367500 SH SOLE
BECKMAN COULTER INC COM 075811109 4089 70045 SH SOLE
BECTON DICKINSON & CO COM 075887109 3478 121250 SH SOLE
BELCO OIL & GAS CORP COM 077410108 4827 567925 SH SOLE
BELDEN INC COM 077459105 16856 657800 SH SOLE
BELL & HOWELL COM 077852101 11179 461000 SH SOLE
BELL ATLANTIC CORP COM 077853109 1157 22764 SH SOLE
122 2400 SH OTHER
BENCHMARK ELECTRONICS INC COM 08160h101 7269 198800 SH SOLE
BERKSHIRE HATHAWAY CLASS A COM 10382K102 215 4 SH SOLE
BERKSHIRE HATHAWAY CLASS B COM 084670207 549 312 SH SOLE
185 105 SH OTHER
BESTFOODS COM 08658U101 332 4800 SH SOLE
277 4000 SH OTHER
BIO RAD LABS INC CL A COM 090572207 7800 312000 SH SOLE
BOEING CO COM 097023105 1071 25620 SH SOLE
BON-TON STORES INC COM 09776j101 1314 568000 SH SOLE
BORGWARNER INC COM 099724106 13953 397225 SH SOLE
BOWNE & CO INC COM 103043105 3195 317500 SH SOLE
BP AMOCO PLC ADR COM 055622104 4683 82798 SH SOLE
150 2646 SH OTHER
BRADLEY REAL ESTATE COM 104580105 6948 326000 SH SOLE
BRADY CORP CLASS A COM 104674106 4157 127900 SH SOLE
BRISTOL MYERS SQUIBB COM 110122108 1080 18534 SH SOLE
BRITISH AMERICAN TOBACCO ADR COM 110448107 378 28139 SH SOLE
BURLINGTON COAT FACTORY COM 121579106 5167 477900 SH SOLE
BURLINGTON NORTHERN SANTA FE COM 12189T104 1727 75285 SH SOLE
BUSH INDUSTRIES INC COM 123164105 7778 486100 SH SOLE
C&D TECHNOLOGIES INC COM 124661109 27103 479700 SH SOLE
CAMBREX CORP COM 132011107 17280 384000 SH SOLE
CAMDEN PROPERITES COM 133131102 6322 215200 SH SOLE
CARPENTER TECHNOLOGY COM 144285103 5292 250500 SH SOLE
CBL & ASSOCIATES COM 124830100 8055 323000 SH SOLE
CCB FINANCIAL CORP COM 124875105 9746 263400 SH SOLE
CENTEX CONSTRUCTION PRODS COM 15231r109 8281 365000 SH SOLE
CENTEX CORP COM 152312104 2957 125850 SH SOLE
CHASE MANHATTAN COM 16161A108 6131 133110 SH SOLE
CHEVRON CORPORATION COM 166751107 853 10060 SH SOLE
CHITTENDEN CORP COM 170228100 9836 402500 SH SOLE
CHUBB CORP COM 171232101 5407 87916 SH SOLE
CIRCUIT CITY STORE INC CIRCT C COM 172737108 916 27600 SH SOLE
CITIGROUP COM 172967101 5456 90552 SH SOLE
CITY NATIONAL CORP COM 178566105 5977 172000 SH SOLE
CLARCOR INC COM 179895107 11437 575450 SH SOLE
CMI CORP CL A COM 125761304 1425 407100 SH SOLE
COCA COLA CO COM 191216100 1381 24046 SH SOLE
COHU INC COM 192576106 5394 200000 SH SOLE
COLONIAL BANCGROUP INC COM 195493309 11705 1300550 SH SOLE
COMERICA INC COM 200340107 6832 152250 SH SOLE
COMPAQ COMPUTER CORP COM 204493100 4104 160549 SH SOLE
COMPLETE BUSINESS SOLUTIONS IN COM 20452f107 5128 292000 SH SOLE
COMPUWARE CORP COM 205638109 1322 127400 SH SOLE
CONOCO INC. CLASS B COM 208251405 256 10427 SH SOLE
CONSOLIDATED EDISON INC COM 209115104 299 10100 SH SOLE
CONSOLIDATED STORES CORP COM 210149100 2691 224250 SH SOLE
CONSTELLATION ENERGY COM 210371100 506 15532 SH SOLE
COORSTEK, INC COM 217020106 10408 226250 SH SOLE
CORN PRODUCTS INTL INC COM 219023108 276 10400 SH SOLE
CORNING INC COM 219350105 594 2200 SH SOLE
CORPORATE OFFICE PROPERTIES TR COM 22002t108 1929 210000 SH SOLE
COVANCE INC COM 222816100 6401 726400 SH SOLE
CP&L ENERGY INC COM 12614c106 287 9000 SH SOLE
DAIMLER CHRYSLER COM D1668R123 1082 20783 SH SOLE
DELPHI AUTOMOTIVE SYSTEMS COM 247126105 200 13746 SH SOLE
DELTA AIR LINES COM 247361108 690 13650 SH SOLE
DENTSPLY INT'L INC COM 249030107 21495 697600 SH SOLE
DEXTER CORP COM 252165105 15781 328775 SH SOLE
DIEBOLD INC COM 253651103 11568 415000 SH SOLE
DILLARDS INC COM 254067101 524 42800 SH SOLE
DONNELLY (R.R.& SONS) & CO COM 257867101 2379 105425 SH SOLE
DONNELLY CORP CL A COM 257870105 5837 449000 SH SOLE
DONNELLY RH CORP COM 74955w307 15984 825000 SH SOLE
DOW CHEM CO COM 260543103 852 28230 SH SOLE
136 4500 SH OTHER
DPL INC COM 233293109 370 16875 SH SOLE
DU PONT E I DE NEMOURS COM 263534109 1319 30155 SH SOLE
DUKE ENERGY CORP COM 264399106 1295 22975 SH SOLE
DURA AUTOMOTIVE SYSTEMS INC COM 265903104 766 70820 SH SOLE
EARTHGRAINS CO. COM 270319106 9038 465000 SH SOLE
EDISON INTL COM 281020107 1875 91450 SH SOLE
EDWARDS AG INC COM 281760108 215 5500 SH SOLE
EMC CORP COM 268648102 308 4000 SH SOLE
EMERSON ELECTRIC CO COM 291011104 620 10267 SH SOLE
EQUITABLE RESOURCES INC COM 294549100 19381 401679 SH SOLE
326 6750 SH OTHER
EQUITY ONE INC COM 294752100 1877 195000 SH SOLE
ERICSSON TEL ADR COM 294821400 204 10200 SH SOLE
EXXON-MOBIL COM 30231G102 6186 78800 SH SOLE
F M C CORP COM 302491303 1172 20200 SH SOLE
FEDERAL HOME LN MTG CP COM 313400301 318 7860 SH SOLE
FEDERAL NATL MTG ASSN COM 313586109 504 9656 SH SOLE
FIBERMARK INC COM 315646109 7221 583500 SH SOLE
FINLAY ENTERPRISES INC COM 317884203 7209 554500 SH SOLE
FIRST HEALTH GROUP COM 320960107 6257 190700 SH SOLE
FIRST INDUSTRIAL RLTY COM 32054k103 8437 286000 SH SOLE
FIRST UNION CORP COM 337358105 5661 228150 SH SOLE
FORD MTR CO COM 345370100 6729 156491 SH SOLE
FORT JAMES COM 347471104 4073 176125 SH SOLE
FTI CONSULTING INC COM 302941109 4106 391000 SH SOLE
FYI INC COM 302712104 5188 154000 SH SOLE
GABLES RESIDENTIAL COM 362418105 10612 412100 SH SOLE
GARDEN FRESH RESTAURANT CORP COM 365235100 1931 185000 SH SOLE
GENCORP INC COM 368682100 3404 425550 SH SOLE
GENERAL ELECTRIC CO COM 369604103 7978 150529 SH SOLE
GENERAL MOTORS CLASS H (HUGHES COM 370442832 257 2930 SH SOLE
GENERAL MOTORS CORP COM 370442105 982 16919 SH SOLE
GEORGIA GULF CORP COM 373200203 4602 221100 SH SOLE
GRANITE CONSTRUCTION INC COM 387328107 21193 865000 SH SOLE
GRAPHIC PACKAGING INTL CORP COM 388690109 1785 840200 SH SOLE
GRIFFON CORP COM 398433102 6558 1179000 SH SOLE
GTE CORP COM 362320103 454 7298 SH SOLE
GUEST SUPPLY INC COM 401630108 7766 427000 SH SOLE
HARMAN INT'L COM 413086109 7466 122400 SH SOLE
HEALTHCARE RLTY TR COM 421946104 2594 152000 SH SOLE
HEARTLAND EXPRESS INC COM 422347104 4422 265000 SH SOLE
HEWLETT PACKARD CO COM 428236103 12342 98835 SH SOLE
HONEYWELL INTERNATIONAL COM 438506107 286 8501 SH SOLE
HUGHES SUPPLY INC. COM 444482103 12482 632000 SH SOLE
IBP INC COM 449223106 304 19700 SH SOLE
IDEX CORP COM 45167r104 3189 101035 SH SOLE
INTEL CORP COM 458140100 8600 64326 SH SOLE
INTERMET CORP COM 45881k104 2836 412500 SH SOLE
INTERNATIONAL BUS MACH COM 459200101 12708 115988 SH SOLE
263 2400 SH OTHER
INTERNATIONAL HOME FOODS INC COM 459655106 15913 760000 SH SOLE
INTL PAPER CO COM 460146103 530 17777 SH SOLE
95 3200 SH OTHER
JAKKS PACIFIC INC COM 47012e106 7257 492000 SH SOLE
JASON INC COM 471171108 3297 342500 SH SOLE
JEFFERSON PILOT CORP COM 475070108 202 3582 SH SOLE
JOHNSON & JOHNSON COM 478160104 1108 10875 SH SOLE
K MART CORP COM 482584109 209 30710 SH SOLE
KENNAMETAL INC COM 489170100 1368 63800 SH SOLE
KINDER MORGAN INC COM 49455P101 12351 357363 SH SOLE
194 5625 SH OTHER
KONINKLIJKE PHILIPS ELECTRONIC COM 500472204 22255 468525 SH SOLE
LANCASTER COLONY CORP COM 513847103 3472 178050 SH SOLE
LANDAMERICA FINANCIAL GROUP IN COM 514936103 4748 207000 SH SOLE
LASALLE HOTEL PROPERTIES COM 517942108 5455 379500 SH SOLE
LEAR CORP COM 521865105 4631 231525 SH SOLE
LIBERTY PPTY TR SH BEN INT COM 531172104 11534 444700 SH SOLE
LILLY ELI & CO COM 532457108 999 10000 SH SOLE
LINCOLN NATL CORP COM 534187109 58 1600 SH SOLE
217 6000 SH OTHER
LIZ CLAIBORNE COM 539320101 4007 113685 SH SOLE
LOCKHEED MARTIN CORP COM 539830109 1148 46274 SH SOLE
LUCENT TECHNOLOGIES COM 549463107 2134 36019 SH SOLE
154 2592 SH OTHER
LUNAR COM 550362107 4858 290000 SH SOLE
M D C HLDGS INC COM 552676108 18197 977000 SH SOLE
MACK-CALI REALTY CORP COM 554489104 4929 191900 SH SOLE
MARTIN MARIETTA MATERIALS COM 573284106 11735 290200 SH SOLE
MATTEL INC COM 577081102 2494 189085 SH SOLE
MAY DEPT STORES CO COM 577778103 596 24825 SH SOLE
MEAD CORP COM 582834107 2566 101625 SH SOLE
MEDALLION FINANCIAL COM 583928106 7889 511000 SH SOLE
MEDICAL ASSURANCE INC COM 58449U100 3182 282848 SH SOLE
MERCANTILE BANKSHARES COM 587405101 971 32575 SH SOLE
MERCK & CO INC COM 589331107 3409 44486 SH SOLE
MERIDIAN RESOURCE CORP COM 58977q109 4778 840000 SH SOLE
MICROSOFT CORP COM 594918104 1800 22500 SH SOLE
MID-ATLANTIC RLTY TR SH BEN IN COM 595232109 301 30100 SH SOLE
MIDCOAST ENERGY RESOURCES COM 59563w104 4739 300900 SH SOLE
MILACRON INC COM 598709103 11766 811450 SH SOLE
MILLS CORP COM 601148109 7250 385400 SH SOLE
MINERALS TECHNOLOGIES INC COM 603158106 25149 546725 SH SOLE
MOHAWK INDUSTRIES INC COM 608190104 5322 244700 SH SOLE
MORGAN J P & CO INC COM 616880100 220 2000 SH SOLE
MORGAN STAN DEAN WITTR CO COM 617446448 14558 174875 SH SOLE
MOTOROLA INC COM 620076109 410 14100 SH SOLE
NATIONAL CITY CORP COM 635405103 817 47886 SH SOLE
102 6000 SH OTHER
NEWELL RUBBERMAID CO COM 651229106 1529 59397 SH SOLE
NEWPARK RESOURCES INC COM 651718504 8805 933000 SH SOLE
NOKIA CORP SPONSORED ADR COM 654902204 17086 342150 SH SOLE
NORFOLK SOUTHERN CORP COM 655844108 630 42360 SH SOLE
120 8100 SH OTHER
NORTHWEST PIPE CO COM 667746101 4263 359000 SH SOLE
NOVA CORPORATION COM 669784100 18397 658500 SH SOLE
NUI CORP COM 629430109 7938 294000 SH SOLE
OCEANEERING INTL INC COM 675232102 13273 698600 SH SOLE
OFFSHORE LOGISTICS INC COM 676255102 3450 240000 SH SOLE
OMNICARE INC COM 681904108 8020 885000 SH SOLE
OMNOVA SOLUTIONS INC COM 682129101 2338 374150 SH SOLE
PACIFIC GULF PPTYS INC COM 694396102 2170 86600 SH SOLE
PAN PACIFIC RETAIL PPTYS INC COM 69806l104 3874 192500 SH SOLE
PARKER HANNIFIN CORP COM 701094104 4940 144225 SH SOLE
154 4500 SH OTHER
PENN VA CORP COM 707882106 12140 493000 SH SOLE
PFIZER INC COM 717081103 6640 138339 SH SOLE
PHARMACIA CORPORATION COM 71713U102 385 7450 SH SOLE
414 8000 SH OTHER
PHELPS DODGE CORP COM 717265102 309 8300 SH SOLE
PHILIP MORRIS COS INC COM 718154107 26 995 SH SOLE
430 16200 SH OTHER
PINNACLE WEST CAPITAL CORP COM 723484101 4692 138500 SH SOLE
PIONEER STD ELECTRS COM 723877106 13238 897500 SH SOLE
PITNEY BOWES INC COM 724479100 1984 49596 SH SOLE
320 8000 SH OTHER
PNC FINANCIAL SERVICES GROUP COM 693475105 4629 98750 SH SOLE
POTLATCH CORP COM 737628107 424 12800 SH SOLE
PPG INDS INC COM 693506107 496 11200 SH SOLE
177 4000 SH OTHER
PRAXAIR INC COM 74005p104 393 10500 SH SOLE
PRENTISS PROPERTIES TRUST COM 740706106 4238 176600 SH SOLE
PROCTER & GAMBLE CO COM 742718109 739 12906 SH SOLE
PROSPERITY BANCSHARES INC COM 743606105 4176 259000 SH SOLE
PROTECTIVE LIFE CORP COM 743674103 220 8280 SH SOLE
PROVIDIAN FINL CORP COM 74406a102 4225 46942 SH SOLE
PXRE GROUP LTD COM 693674103 3881 287500 SH SOLE
QUAKER CHEMICAL COM 747316107 7993 460000 SH SOLE
QUANEX CORP COM 747620102 6605 444000 SH SOLE
QUESTAR CORP COM 748356102 11210 578600 SH SOLE
QUIXOTE CORP COM 749056107 7568 504500 SH SOLE
RADIAN GROUP INC. COM 750236101 19210 371200 SH SOLE
RAYTHEON CO CLASS B COM 755111408 422 21934 SH SOLE
RECKSON ASSOCIATES REALTY CORP COM 75621K106 9961 419400 SH SOLE
REPUBLIC SECURITY FINANCIAL CO COM 760758102 5845 1169000 SH SOLE
REX STORES CORP COM 761624105 8742 375000 SH SOLE
REYNOLDS & REYNOLDS COM 761695105 5698 312200 SH SOLE
RIGHT MANAGEMENT CONSULTANTS I COM 766573109 3155 300500 SH SOLE
ROHM & HAAS CO COM 775371107 248 7200 SH SOLE
ROLLINS TRUCK LEASING COM 775741101 6154 887000 SH SOLE
ROUSE CO COM 779273101 1567 63311 SH SOLE
ROYAL DUTCH PETE CO NY REG GLD COM 780257804 899 14610 SH SOLE
RUDDICK CORP COM 781258108 6733 570000 SH SOLE
RYLAND GROUP COM 783764103 9403 425000 SH SOLE
SAKS INC COM 79377w108 4884 465125 SH SOLE
SARA LEE CORP COM 803111103 5470 283225 SH SOLE
SBC COMMUNICATIONS INC COM 78387g103 251 5800 SH SOLE
SCB COMPUTER TECHNOLOGY INC. COM 78388n107 1053 993000 SH SOLE
SCHLUMBERGER LTD COM 806857108 289 3869 SH SOLE
SCHULMAN A INC COM 808194104 4117 341300 SH SOLE
SEAGATE TECHNOLOGY COM 811804103 6489 117978 SH SOLE
SEITEL INC COM 816074306 2578 317300 SH SOLE
SHOPKO STORES INC COM 824911101 17108 1112725 SH SOLE
SHURGARD STORAGE CTRS COM 82567d104 9270 412000 SH SOLE
SIERRA HEALTH SVCS INC COM 826322109 1218 382000 SH SOLE
SIMPSON MFG CO INC COM 829073105 4781 100000 SH SOLE
SOUTHDOWN INC COM 841297104 14004 242500 SH SOLE
SOVEREIGN BANCORP COM 845905108 8719 1240000 SH SOLE
SPACEHAB INC COM 846243103 2565 570000 SH SOLE
SPACELABS MEDICAL INC COM 846247104 2342 208200 SH SOLE
ST PAUL COS INC COM 792860108 348 10206 SH SOLE
STANLEY FURNITURE INC COM 854305208 8272 376000 SH SOLE
STANLEY WORKS COM 854616109 4385 184650 SH SOLE
STARCRAFT CORP COM 855269106 1378 167000 SH SOLE
STATEN ISLAND BANCORP INC COM 857550107 3939 223500 SH SOLE
STRIDE RITE COM 863314100 2083 340000 SH SOLE
SUIZA FOODS CORP COM 865077101 293 6000 SH SOLE
SUN BANCORP COM 86663b102 1827 304500 SH SOLE
SUPERIOR FINANCIAL CORP COM 868161100 4075 400000 SH SOLE
SYLVAN INC COM 871371100 3561 385000 SH SOLE
SYSTEMS & COMPUTER TECH CORP COM 871873105 4000 200000 SH SOLE
TECHNITROL INC COM 878555101 14919 154000 SH SOLE
TELEFLEX INC COM 879369106 19448 544000 SH SOLE
TENNANT CO COM 880345103 664 17700 SH SOLE
TEXACO INC COM 881694103 1851 34753 SH SOLE
TEXAS INSTRS INC COM 882508104 2188 31848 SH SOLE
THOMAS & BETTS CORP COM 884315102 4108 214790 SH SOLE
TIDEWATER INC COM 886423102 396 11000 SH SOLE
TJX COS INC COM 872540109 8827 470787 SH SOLE
TORCHMARK CORP COM 891027104 467 18900 SH SOLE
TORO CO COM 891092108 15299 464500 SH SOLE
TOTAL FINA ELF SA COM 89151e109 1451 18892 SH SOLE
TRAMMELL CROW CO COM 89288r106 11234 1045000 SH SOLE
TRANSACTION SYSTEMS ARCHITECTS COM 893416107 10575 617500 SH SOLE
TRANSOCEAN SEDCO FOREX INC COM G90078109 636 11909 SH SOLE
TRENWICK GROUP INC COM 895290104 4878 335000 SH SOLE
TRIAD GUARANTY INC COM 895925105 998 43500 SH SOLE
TROPICAL SPORTSWEAR INTL CORP COM 89708p102 3150 180000 SH SOLE
TRW INC COM 872649108 1930 44500 SH SOLE
TYCO INTL LTD COM 902124106 10504 221726 SH SOLE
U S WEST INC COM 91273H101 343 4000 SH SOLE
106 1232 SH OTHER
UCBH HOLDINGS INC COM 90262t308 10782 404000 SH SOLE
UNION PACIFIC RES GROUP COM 907834105 1238 56258 SH SOLE
UNITED ASSET MGMT CORP COM 909420101 281 12000 SH SOLE
UNITED TECHNOLOGIES CP COM 913017109 524 8900 SH SOLE
UNITEL VIDEO INC COM 913253100 0 150000 SH SOLE
US ONCOLOGY INC COM 90338w103 3989 797700 SH SOLE
UST INC COM 902911106 1938 131950 SH SOLE
V F CORP COM 918204108 4818 202350 SH SOLE
VARCO INTERNATIONAL INC COM 922122106 9533 410000 SH SOLE
VISTEON CORP COM 92839u107 248 20485 SH SOLE
VODAFONE AIRTOUCH PLC COM 92857t107 614 14810 SH SOLE
VULCAN MATLS CO COM 929160109 248 5800 SH SOLE
WABASH NATIONAL CORP COM 929566107 6804 570000 SH SOLE
WAL MART STORES INC COM 931142103 332 5760 SH SOLE
WAUSAU-MOSINEE PAPER COM 943315101 2613 305225 SH SOLE
WEBB DELL CORP COM 947423109 7543 492600 SH SOLE
WELLPOINT HEALTH NETWORKS COM 94973h108 2412 33300 SH SOLE
WELLS FARGO & CO COM 949746101 1299 33514 SH SOLE
WEST COAST BANCORP OREGON COM 952145100 6245 624500 SH SOLE
WILLAMETTE INDS INC COM 969133107 1251 45900 SH SOLE
WILLIAMS CLAYTON ENRGY COM 969490101 7905 247500 SH SOLE
WOODHEAD INDS INC COM 979438108 7118 390000 SH SOLE
WORLDCOM INC COM 98157d106 4947 107842 SH SOLE
WSFS FINANCIAL CORP COM 929328102 3914 375000 SH SOLE
WYNNS INTL INC COM 983195108 15053 663512 SH SOLE
XEROX CORP COM 984121103 261 12600 SH SOLE
WESTERN MASS ELEC CO PFD B 7.7 PRD 958587206 282 3000 SH SOLE
BELCO OIL & GAS $1.625 CONV PF CNV 077410207 2216 151500 SH SOLE
SPACEHAB INC 846243ac7 2711 3900000 PRN SOLE
MAPLE LTD PARTNERSHIP 565108107 0 25000.000SH SOLE
</TABLE>
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