FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: June 30, 1999
Institutional Investment Manager Filing this Report:
NAME: Glickenhaus & Co.
ADDRESS: Six East 43rd Street
New York, NY 10017
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: Margaret Beal
Title: Director and Principal
Phone: 212-953-7794
Signature, Place, and Date of Signing:
Margaret Beal New York, NY August 16, 1999
Report Type Type:
[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: 0
FORM 13F INFORMATION TABLE ENTRY TOTAL: 356
FORM 13F INFORMATION TABLE VALUE TOTAL: $2,774,317,000
LIST OF OTHER INCLUDED MANAGERS:
NO. 13F FILE NUMBER NAME
<PAGE>
<TABLE> <C> <C>
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
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
AARON RENTS INC CL B COM 002535201 405 18200 SH SOLE 11600 0 6600
ABITIBI-CONSOLIDATED INC COM COM 003924107 216 19027 SH SOLE 4300 0 14727
ADOBE SYS INC COM 00724F101 6359 77400 SH SOLE 73600 0 3800
ADVANCED FIBRE COMM INC COM COM 00754A105 247 15800 SH SOLE 15000 0 800
ADVANCED MICRO DEVICES INC COM COM 007903107 181 10000 SH SOLE 10000 0 0
ADVANTA CORP CL B COM 007942204 161 11894 SH SOLE 6744 0 5150
ADVO INC COM 007585102 10129 488125 SH SOLE 334475 0 153650
AETNA INC COM 008117103 20092 224650 SH SOLE 179450 0 45200
AGRIUM INC COM 008916108 167 19000 SH SOLE 0 0 19000
AK STL HLDG CORP COM COM 001547108 252 11200 SH SOLE 11200 0 0
AKER RGI 5.25 07/23/02 CONVERTIBLE BOND 401996W66 503 500000 PRN SOLE 500000 0 0
ALCOA, INC. COM 013817101 446 7200 SH SOLE 7200 0 0
ALLIED HLDGS INC COM COM 019223106 757 93200 SH SOLE 57500 0 35700
ALLIED SIGNAL INC COM 019512102 315 5000 SH SOLE 0 0 5000
ALLIED WASTE INDS INC COM NEW COM 019589308 198 10000 SH SOLE 0 0 10000
ALLMERICA FINL CORP COM 019754100 5996 98600 SH SOLE 70900 0 27700
ALTERA CORP COM COM 021441100 3957 107500 SH SOLE 57400 0 50100
AMERADA HESS CORP COM 023551104 14407 242128 SH SOLE 185900 0 56228
AMERICAN HOME PRODS CORP COM 026609107 24235 422400 SH SOLE 264700 0 157700
AMERICAN INTL GROUP INC COM 026874107 1162 12386 SH SOLE 11559 0 827
AMERON INC COM 030710107 304 6900 SH SOLE 3700 0 3200
AMES DEPT STORES INC COM NEW COM 030789507 2671 58550 SH SOLE 35200 0 23350
AMGEN INC COM 031162100 694 11400 SH SOLE 11200 0 200
AMKOR TECH INC CONV. BOND 5 3/ CONVERTIBLE BOND 031652AA8 10 10000 PRN SOLE 10000 0 0
AMKOR TECHNOLOGY INC COM COM 031652100 9511 927900 SH SOLE 622800 0 305100
AMR CORP DEL COM 001765106 21177 310282 SH SOLE 191382 0 118900
APP FINANCE VI MAURITIUS LTD 0 CONVERTIBLE BOND 00202NAA3 10913 58991000 PRN SOLE 50563000 0 8428000
APPLIED MATLS INC COM 038222105 5589 75650 SH SOLE 72200 0 3450
APT SATELLITE HLDGS LTD SPONSO COM 00203R105 7120 1752650 SH SOLE 1663700 0 88950
ARM FINL GROUP INC CL A COM 001944107 765 90000 SH SOLE 90000 0 0
ARMCO INC PFD CV A $3.625 CONVERTIBLE PREF 042170407 221 4400 SH SOLE 800 0 3600
ARMSTRONG WORLD INDS INC COM COM 042476101 17870 309100 SH SOLE 114900 0 194200
ARROW ELECTRS INC COM 042735100 7651 402700 SH SOLE 366300 0 36400
ASHLAND INC COM 044204105 18485 460675 SH SOLE 383200 0 77475
ASK CORP COM 00206E101 0 55000 SH SOLE 0 0 55000
ASSOCIATED MATERIALS INC COM 045709102 375 28000 SH SOLE 16700 0 11300
ASTORIA FINL CORP COM COM 046265104 220 5000 SH SOLE 0 0 5000
AT HOME CORP COM SER A COM 045919107 1888 35000 SH SOLE 33000 0 2000
AT&T CORP COM 001957109 48378 866795 SH SOLE 624350 0 242445
AUTODIE CORP SDCV 7.000 5/01/1 CONVERTIBLE BOND 052770AA2 34 675000 PRN SOLE 675000 0 0
AVIRON COM COM 053762100 598 20800 SH SOLE 20800 0 0
AVIS RENT A CAR INC COM COM 053790101 1471 50500 SH SOLE 6900 0 43600
BANK OF AMERICA COM 060505104 1060 14458 SH SOLE 10000 0 4458
BANK ONE CORP COM 06423A103 68512 1150256 SH SOLE 741506 0 408750
BARD, C R INC COM 067383109 12302 257300 SH SOLE 250400 0 6900
BD GROUP CAP T 6.25% CV PFD CONVERTIBLE PREF 119001303 938 25000 SH SOLE 25000 0 0
BEAR STEARNS COS INC COM 073902108 31876 681836 SH SOLE 301224 0 380612
BEAZER HOMES USA INC COM 07556Q105 3793 164000 SH SOLE 97100 0 66900
BECTON DICKINSON & CO COM 075887109 4506 150200 SH SOLE 122200 0 28000
BEDFORD PPTY INVS INC COM PAR COM 076446301 338 18900 SH SOLE 4400 0 14500
BELO A H CORP COM SER A COM 080555105 4154 211000 SH SOLE 72100 0 138900
BERGEN BRUNSWIG CORP CL A COM 083739102 1087 63041 SH SOLE 11837 0 51204
BERKSHIRE RLTY INC COM COM 084710102 1927 166700 SH SOLE 150000 0 16700
BEVERLY ENTERPRISES INC COM NE COM 087851309 18723 2322289 SH SOLE 2182961 0 139328
BIG FLOWER HLDGS INC COM COM 089159107 2226 69850 SH SOLE 30850 0 39000
BRANDYWINE RLTY TR SH BEN INT COM 105368203 854 43100 SH SOLE 5100 0 38000
BRISTOL MYERS SQUIBB CO COM 110122108 254 3600 SH SOLE 3600 0 0
BUDGET GROUP INC CL A COM 119003101 10861 882100 SH SOLE 652000 0 230100
BUDGET GRP CAP T CONV 144A CONVERTIBLE PREF 119001204 3682 107500 SH SOLE 107500 0 0
BWAY CORP COM COM 056039100 1895 133000 SH SOLE 76000 0 57000
CABLEVISION SYS CORP CL A COM 12686C109 3136 44800 SH SOLE 41300 0 3500
CABOT INDL TR COM SH BEN INT COM 127072106 357 16800 SH SOLE 7200 0 9600
CABOT OIL & GAS CORP COM 127097103 365 19600 SH SOLE 12600 0 7000
CACI INTL INC CL A COM 127190304 270 12000 SH SOLE 12000 0 0
CADIZ INC COM COM 127549103 227 24000 SH SOLE 24000 0 0
CANADIAN HOTL INCM PPTY REITUN COM 135928109 9971 1553420 SH SOLE 1459320 0 94100
CANADIAN PAC LTD NEW COM 135923100 414 17400 SH SOLE 5700 0 11700
CAPSTAR HOTEL CO NOTE 4.750 10 CONVERTIBLE BOND 140918AC7 768 1000000 PRN SOLE 1000000 0 0
CAPSTEAD MTG CORP COM 14067E100 2163 397800 SH SOLE 383800 0 14000
CAPSTEAD MTG CORP PFD B CV $1. CONVERTIBLE PREF 14067E308 5425 459300 SH SOLE 412700 0 46600
CARDIAC SCIENCE INC COM NEW COM 141410209 63 17501 SH SOLE 17501 0 0
CBS CORPORATION COM 12490K107 12546 288000 SH SOLE 233400 0 54600
CENTURY COMMUNICATIONS CORP CL COM 156503104 276 6000 SH SOLE 0 0 6000
CHASE MANHATTAN CORP NEW COM 16161A108 1042 12050 SH SOLE 12050 0 0
CHESAPEAKE ENERGY CORP COM COM 165167107 56 19100 SH SOLE 0 0 19100
CHESAPEAKE ENERGY CORP PFD CON CONVERTIBLE PREF 165167305 260 10000 SH SOLE 10000 0 0
CHICAGO BRIDGE & IRON CO ORD COM N19808109 3112 223300 SH SOLE 127600 0 95700
CHICAGO TITLE CORP COM COM 168228104 1956 54800 SH SOLE 54800 0 0
CII FINL INC SDCV 7.500 9/15/0 CONVERTIBLE BOND 12551LAB7 375 400000 PRN SOLE 300000 0 100000
CISCO SYSTEMS INC. COM 17275R102 6927 107400 SH SOLE 101000 0 6400
CIT GROUP INC CL A COM 125577106 271 9400 SH SOLE 9400 0 0
CITIGROUP INC. COM 172967101 34719 730930 SH SOLE 332904 0 398026
COASTAL CORP COM 190441105 282 7000 SH SOLE 7000 0 0
COCA COLA CO COM 191216100 735 11861 SH SOLE 11861 0 0
COGNEX CORP COM COM 192422103 1332 42200 SH SOLE 37200 0 5000
COLTEC INDS INC COM COM 196879100 909 41900 SH SOLE 24100 0 17800
COLUMBIA / HCA HEALTHCARE CP COM 197677107 4551 199500 SH SOLE 173700 0 25800
COMCAST CORP CL A COM 200300101 577 16100 SH SOLE 11150 0 4950
COMCAST CORP CL A SPL COM 200300200 5604 145802 SH SOLE 84850 0 60952
COMPAQ COMPUTER CORP COM 204493100 9558 403500 SH SOLE 180700 0 222800
COMSAT CORP SER 1 COM 20564D107 237 7300 SH SOLE 6500 0 800
CONGOLEUM CORP NEW CL A COM 207195108 144 20000 SH SOLE 20000 0 0
CONNECTICUT BANCORP INC COM 207534108 0 10000 SH SOLE 10000 0 0
CONSECO INC COM COM 208464107 11046 362900 SH SOLE 142400 0 220500
CONSOLDTD FREIGHTWAYS CORP COM 209232107 344 26800 SH SOLE 19900 0 6900
CONTINENTAL AIRLS INC CL B COM 210795308 37786 1004280 SH SOLE 678052 0 326228
CONVERGYS CORP COM COM 212485106 291 15000 SH SOLE 15000 0 0
CORN PRODS INTL INC COM COM 219023108 8513 279700 SH SOLE 171200 0 108500
CORNERSTONE PPTYS INC CDT-COM COM 21922H103 4377 275700 SH SOLE 128700 0 147000
CORPORATE EXPRESS INC COM COM 219888104 630 90000 SH SOLE 90000 0 0
CORPORATE OFFICE PPTYS TR COM COM 22002T108 4135 505000 SH SOLE 505000 0 0
CORRECTIONAL PROPERTY TRUST COM 22025E104 302 19200 SH SOLE 12800 0 6400
COUNTRYWIDE CR INDS INC COM 222372104 149265 3491583 SH SOLE 2780327 0 711256
CRANE CO COM 224399105 833 26500 SH SOLE 8450 0 18050
CRESTLINE CAP CORP COM COM 226153104 286 17004 SH SOLE 3500 0 13504
CSG SYS INTL INC COM COM 126349109 249 9500 SH SOLE 0 0 9500
CYPRESS SEMICONDUCTOR CORP COM 232806109 224 13100 SH SOLE 1700 0 11400
CYPROS PHARMACEUTICAL CORP COM 232808105 43 17900 SH SOLE 17900 0 0
D R HORTON INC COM COM 23331A109 4630 278500 SH SOLE 82800 0 195700
DAIMLERCHRYSLER AG ORD COM D1668R123 131235 1474548 SH SOLE 1221958 0 252590
DATA DIMENSIONS INC COM PAR $0 COM 237654207 431 130000 SH SOLE 124000 0 6000
DELL COMPUTER CORP COM 247025109 4681 126500 SH SOLE 119100 0 7400
DELPHI AUTOMOTIVE SYSTEMS COM 247126105 14559 786981 SH SOLE 361013 0 425968
DELPHI FINL GROUP INC CL A COM 247131105 1209 33710 SH SOLE 33210 0 500
DELTA AIR LINES INC DEL COM 247361108 1418 24600 SH SOLE 21000 0 3600
DIAMOND OFFSHORE DRILLNG INCCO COM 25271C102 2476 87250 SH SOLE 57700 0 29550
DISNEY WALT PRODTNS COM 254687106 642 20850 SH SOLE 20850 0 0
DOLE FOOD INC COM 256605106 452 15400 SH SOLE 0 0 15400
DOLLAR THRIFTY AUTOMOTIVE-W.I. COM 256743105 5306 228212 SH SOLE 66112 0 162100
DU PONT E I DE NEMOURS CO COM 263534109 228 3340 SH SOLE 1000 0 2340
DUN & BRADSTREET CORP DEL COM COM 26483B106 64058 1807631 SH SOLE 1139550 0 668081
E TRADE GROUP INC COM COM 269246104 3451 86400 SH SOLE 81400 0 5000
E4L INC COM COM 268452109 435 60000 SH SOLE 50000 0 10000
EASTMAN KODAK COM 277461109 15837 233750 SH SOLE 208350 0 25400
EDUTREK INTL INC CL A COM 28164K108 168 35400 SH SOLE 12400 0 23000
ELBIT SYSTEMS LTD ORD COM M3760D101 842 48100 SH SOLE 11000 0 37100
ELDER BEERMAN STORES CORP NECO COM 284470101 1341 183341 SH SOLE 157541 0 25800
ELECTRIC LIGHTWAVE INC CL A COM 284895109 347 26700 SH SOLE 26700 0 0
ELECTRONICS FOR IMAGING INC COM 286082102 1593 31000 SH SOLE 27900 0 3100
ENGELHARD CORP COM COM 292845104 9025 398900 SH SOLE 356500 0 42400
ENRON OIL & GAS CO COM 293562104 1582 78100 SH SOLE 44100 0 34000
ENSCO INTL INC COM 26874Q100 6025 302200 SH SOLE 253300 0 48900
ENTERTAINMENT PPTYS TR COM SH COM 29380T105 9445 535900 SH SOLE 401200 0 134700
EQUITABLE RES INC COM COM 294549100 529 14000 SH SOLE 7300 0 6700
EQUITY ONE INC COM COM 294752100 494 50000 SH SOLE 50000 0 0
EVEREST REINS HLDGS INC COM COM 299808105 2075 63600 SH SOLE 55300 0 8300
EXODUS COMMUNICATIONS INC COM 302088109 2375 39600 SH SOLE 36400 0 3200
EXXON CORP COM 302290101 570 7388 SH SOLE 0 0 7388
FEDERAL NAT MORTGAGE ASSN COM 313586109 5201 76200 SH SOLE 73100 0 3100
FIBERMARK INC COM 315646109 1394 105700 SH SOLE 61400 0 44300
FIRST DATA CORP COM 319963104 254 5200 SH SOLE 5200 0 0
FIRST INDL RLTY TR INC COM 32054K103 88480 3224800 SH SOLE 2762200 0 462600
FIRST UN CORP COM 337358105 1791 38010 SH SOLE 23910 0 14100
FIRST WASHINGTON RLTY TR INCCO COM 337489504 8735 373670 SH SOLE 264170 0 109500
FNMA CALL JAN00 @45 OPTION - CALL 555 300 SH CALL SOLE 300 0 0
FORD MOTOR COM 345370100 107546 1905575 SH SOLE 1673125 0 232450
FORT JAMES CORPORATION COM 347471104 6068 160200 SH SOLE 84200 0 76000
FOX ENTERTAINMENT GRP INC. A COM 35138T107 1482 55000 SH SOLE 45000 0 10000
GARTNER GROUP INC NEW CL A COM 366651107 459 22400 SH SOLE 1100 0 21300
GATX CORP COM 361448103 400 10500 SH SOLE 5300 0 5200
GENERAL ELEC CO COM 369604103 1524 13485 SH SOLE 7800 0 5685
GENERAL MTRS CORP COM 370442105 25819 391190 SH SOLE 169088 0 222102
GIBRALTAR STL CORP COM 37476F103 3633 146800 SH SOLE 120000 0 26800
GLENBOROUGH RLTY TR INC COM COM 37803P105 1267 72400 SH SOLE 43000 0 29400
GLOBAL MARINE INC NEW COM 379352404 39029 2518030 SH SOLE 2401530 0 116500
GOVERNMENT SECS INCOME FD UNIT MUTUAL FUNDS 383744331 6 48815 SH SOLE 48815 0 0
GTECH HLDGS CORP COM COM 400518106 528 22400 SH SOLE 0 0 22400
GULF CDA RES LTD ORD COM 40218L305 8496 2029000 SH SOLE 1541300 0 487700
HARCOURT GEN INC COM 41163G101 8822 171100 SH SOLE 58600 0 112500
HAVEN BANCORP INC COM COM 419352109 354 22100 SH SOLE 22100 0 0
HIBERNIA CORP CL A COM 428656102 3062 195200 SH SOLE 106500 0 88700
HILTON HOTELS CORP COM COM 432848109 13167 928100 SH SOLE 861700 0 66400
HOLLINGER INTL INC CL A COM 435569108 7460 628200 SH SOLE 135400 0 492800
HOST MARRIOTT CORP NEW COM COM 44107P104 356 29994 SH SOLE 0 0 29994
HURRICANE HYDROCARBONS LTD CL COM 44779E106 5 10000 SH SOLE 10000 0 0
HUSSMANN INTL INC COM COM 448110106 1585 95700 SH SOLE 48000 0 47700
I B M COM 459200101 67662 523494 SH SOLE 314896 0 208598
IBP INC COM 449223106 2043 86000 SH SOLE 78700 0 7300
ICN PHARMACEUTICAL INC NEW COM 448924100 43679 1357004 SH SOLE 1134811 0 222193
IMC GLOBAL INC COM 449669100 8138 468400 SH SOLE 404200 0 64200
IMCLONE SYS INC COM 45245W109 2106 83000 SH SOLE 80000 0 3000
INDYMAC MTG HLDGS INC COM COM 456607100 2933 183300 SH SOLE 86600 0 96700
INFINITY BROADCASTING CORP A COM 45662S102 11639 393700 SH SOLE 272600 0 121100
INTEL CORP COM 458140100 30553 513500 SH SOLE 456600 0 56900
INTERSTATE BAKERIES CORP DELCO COM 46072H108 73007 3253810 SH SOLE 2483910 0 769900
INTUIT INC COM COM 461202103 2938 32600 SH SOLE 30000 0 2600
INVACARE CORP COM 461203101 741 27700 SH SOLE 13100 0 14600
JAVELIN SYS INC COM COM 471896100 2718 221900 SH SOLE 201900 0 20000
JOHNS-MANVILLE CORP NEW COM COM 478129109 1485 107000 SH SOLE 58500 0 48500
JONES INTERCABLE INC CL A COM 480206200 14799 302025 SH SOLE 122150 0 179875
K MART CORP COM 482584109 31635 1917300 SH SOLE 1582450 0 334850
KEANE INC COM 486665102 4016 177500 SH SOLE 133400 0 44100
KERR MCGEE CORP COM 492386107 2129 42430 SH SOLE 42430 0 0
KEYSPAN CORP COM 49337W100 9173 347775 SH SOLE 347500 0 275
KNIGHTSBRIDGE TANKERS LTD SHS COM G5299G106 179 10200 SH SOLE 2500 0 7700
KOOR INDS LTD SPONSORED ADR COM 500507108 1428 61100 SH SOLE 33800 0 27300
LENNAR CORP COM 526057104 6490 270400 SH SOLE 256000 0 14400
LEXINGTON CORPORATE PPTYS TRCO COM 529043101 2144 184400 SH SOLE 78600 0 105800
LIBERTY PPTY TR SH BEN INT COM 531172104 1958 78700 SH SOLE 52600 0 26100
LILLY, ELI AND COMPANY COM 532457108 1840 25690 SH SOLE 22500 0 3190
LNR PPTY CORP COM COM 501940100 979 45800 SH SOLE 39100 0 6700
LOCKHEED MARTIN CORP COM COM 539830109 5326 142985 SH SOLE 130785 0 12200
LODGIAN INC COM COM 54021P106 165 25200 SH SOLE 13500 0 11700
LOMACK FIN TRUST 5.75 CONV PFD CONVERTIBLE PREF 541505400 564 24000 SH SOLE 24000 0 0
LONE STAR STEAKHOUSE SALOON CO COM 542307103 195 20100 SH SOLE 9100 0 11000
LOUISIANA PAC CORP COM 546347105 6179 258800 SH SOLE 240700 0 18100
LUCENT TECHNOLOGIES INC COM COM 549463107 448 6640 SH SOLE 4400 0 2240
LYONDELL PETROCHEMICAL CO COM COM 552078107 510 24733 SH SOLE 24733 0 0
MANPOWER INC WIS COM COM 56418H100 10824 478400 SH SOLE 425300 0 53100
MARK IV INDS INC COM 570387100 10575 500600 SH SOLE 194900 0 305700
MARTIN MARIETTA MTLS INC COM 573284106 2095 35500 SH SOLE 12100 0 23400
MCI WORLDCOM COM 55268B106 4914 57100 SH SOLE 52500 0 4600
MCKESSON HBOC INC. COM 58155Q103 34772 1080300 SH SOLE 578300 0 502000
MEDIAONE GROUP INC COM COM 58440J104 12635 169886 SH SOLE 131150 0 38736
MEDIMMUNE INC COM COM 584699102 339 5000 SH SOLE 5000 0 0
MERCK & CO INC COM 589331107 786 10680 SH SOLE 7480 0 3200
MERISTAR HOSPITALITY CORP COM COM 58984Y103 4763 212300 SH SOLE 149900 0 62400
MERISTAR HOTELS & RESORTS INCO COM 589988104 427 124263 SH SOLE 87981 0 36282
MERRILL LYNCH & CO INC COM 590188108 64530 811700 SH SOLE 642284 0 169416
METROMEDIA INTL GROUP INC PFD CONVERTIBLE PREF 591695200 289 8300 SH SOLE 3400 0 4900
MICRON ELECTRONICS INC COM 595100108 352 35000 SH SOLE 35000 0 0
MICRON TECHNOLOGY INC COM 595112103 4759 117500 SH SOLE 74600 0 42900
MICROSOFT CORP COM 594918104 2192 24300 SH SOLE 23100 0 1200
MIDCOAST ENERGY RES INC COM 59563W104 1534 95125 SH SOLE 60575 0 34550
MID-ATLANTIC RLTY TR SDCV 7.62 CONVERTIBLE BOND 595232AA7 48 50000 PRN SOLE 0 0 50000
MID-ATLANTIC RLTY TR SH BEN IN COM 595232109 130 11700 SH SOLE 8200 0 3500
MINIMED INC COM COM 60365K108 315 4100 SH SOLE 3800 0 300
MISSOURI KANS TEX RR CO NON IN COM 606113207 207 3798 SH SOLE 3798 0 0
MITCHELL ENERGY & DEV CORP CL COM 606592202 238 12300 SH SOLE 0 0 12300
MITCHELL ENERGY & DEV CORP CL COM 606592301 1918 104400 SH SOLE 46500 0 57900
MONDAVI ROBERT CORP CL A COM 609200100 1091 30000 SH SOLE 30000 0 0
MONTANA PWR CO COM 612085100 423 12000 SH SOLE 0 0 12000
MORGAN STANLY DN WTTR DISCVRCO COM 617446448 308 3000 SH SOLE 2300 0 700
MOTOROLA INC COM 620076109 332 3500 SH SOLE 3500 0 0
NEIMAN MARCUS GROUPS INC COM 640204103 1166 45400 SH SOLE 11200 0 34200
NETWORKS ASSOCS INC COM COM 640938106 6809 463600 SH SOLE 443200 0 20400
NEWHALL LD & FARMING CO COM COM 651426108 246 10000 SH SOLE 10000 0 0
NEWS CORP LTD ADR SPONS PREF COM 652487802 78936 2500950 SH SOLE 1589850 0 911100
NEXTERA ENTERPRISES INC CL A COM 65332E101 64 10000 SH SOLE 10000 0 0
NIELSEN MEDIA RESEARCH COM 653929307 6732 230166 SH SOLE 111223 0 118943
NMT MED INC COM COM 629294109 109 37000 SH SOLE 37000 0 0
NOBLE DRILLING CORP COM 655042109 51372 2609382 SH SOLE 2400082 0 209300
NOBLE INTERNATIONAL COM 655053106 3332 208250 SH SOLE 156300 0 51950
NORTHERN TR CORP COM COM 665859104 485 5000 SH SOLE 5000 0 0
NORTHROP GRUMMAN CORP COM COM 666807102 1127 17000 SH SOLE 17000 0 0
NORTHWEST AIRLINES CORP COM COM 667280101 6874 211500 SH SOLE 145400 0 66100
NTL INC COM 629407107 3808 44188 SH SOLE 17364 0 26824
NUEVO ENERGY CO COM 670509108 2229 168200 SH SOLE 92100 0 76100
O'SULLIVAN INDS HLDGS INC COM COM 688609106 3665 215600 SH SOLE 135100 0 80500
OCEAN ENERGY INC. COM 67481E106 830 86200 SH SOLE 75700 0 10500
OLSTEN CORP COM 681385100 2381 377200 SH SOLE 377200 0 0
OWENS ILL INC NEW COM 690768403 46168 1412400 SH SOLE 1024600 0 387800
OWENS & MINOR INC NEW COM 690732102 3969 360800 SH SOLE 219500 0 141300
PACIFIC GULF PPTYS INC COM COM 694396102 2018 89200 SH SOLE 60500 0 28700
PACIFIC SUMMA CAP CORP COM COM 694920109 1 25000 SH SOLE 0 0 25000
PACIFICORP OREGON COM 695114108 1562 85000 SH SOLE 85000 0 0
PAINE WEBBER GROUP INC COM COM 695629105 1169 25000 SH SOLE 13000 0 12000
PARKER DRILLING CO NOTE 5.500 CONVERTIBLE BOND 701081AD3 655 1000000 PRN SOLE 1000000 0 0
PARTY CITY CORP COM COM 702145103 361 94700 SH SOLE 81700 0 13000
PATINA OIL & GAS CORP COM 703224105 7320 1159600 SH SOLE 793000 0 366600
PEAK INTERNATIONAL LIMITED ORD COM G69586108 3875 571500 SH SOLE 535200 0 36300
PEAK TRENDS TRUST CONV PREF CONVERTIBLE PREF 70468N107 7756 1051600 SH SOLE 822300 0 229300
PENN ENGR & MFG CORP NON-VTG COM 707389300 781 34700 SH SOLE 32200 0 2500
PENNEY J C INC COM 708160106 2307 47500 SH SOLE 47500 0 0
PEP BOYS MANNY MOE & JACK COM 713278109 4139 197100 SH SOLE 125800 0 71300
PEPSICO INC COM 713448108 271 6993 SH SOLE 6993 0 0
PETROLEO BRASILEIRO SA ADR COM 71654V200 7052 472000 SH SOLE 472000 0 0
PETRO-CDA COM 71644E102 6458 471800 SH SOLE 378000 0 93800
PFIZER INC COM 717081103 1199 33000 SH SOLE 27900 0 5100
PHARMACIA & UPJOHN INC COM 716941109 13834 243500 SH SOLE 226600 0 16900
PILGRIM FD PRIME RATE TR NEW-S MUTUAL FUNDS 72146W103 95 10000 SH SOLE 1900 0 8100
PIONEER STD ELECTRS INC COM COM 723877106 6036 503000 SH SOLE 330400 0 172600
PIXAR COM COM 725811103 3036 70400 SH SOLE 65000 0 5400
PNC FINANCIAL CORP COM 693475105 5787 100430 SH SOLE 65155 0 35275
POTASH CORP SASK INC COM 73755L107 2717 52500 SH SOLE 9900 0 42600
POTOMAC ELEC PWR CO DBCV 5.000 CONVERTIBLE BOND 737679BT6 10 10750 PRN SOLE 0 0 10750
PREVIEW TRAVEL INC COM COM 74137R101 2194 100000 SH SOLE 94000 0 6000
PRIDE INTL INC PDE 0% 4/24/18 CONVERTIBLE BOND 741932AB3 2201 7100000 PRN SOLE 6700000 0 400000
PRIME HOSPITALITY CORP COM 741917108 700 58300 SH SOLE 46600 0 11700
PROMUS HOTEL CORP NEW COM COM 74342P106 9201 296800 SH SOLE 129600 0 167200
QUANTUM CORP COM 747906105 724 30000 SH SOLE 30000 0 0
QUESTAR CORP COM COM 748356102 8046 420690 SH SOLE 320690 0 100000
R & B FALCON CORP COM 74912E101 13849 1477262 SH SOLE 1330682 0 146580
RELIANCE GROUP HLDGS INC COM 759464100 10105 1358600 SH SOLE 593230 0 765370
RELIASTAR FINL CORP COM 75952U103 9503 217200 SH SOLE 96200 0 121000
REPUBLIC SERVICES INC COM 760759100 11625 469700 SH SOLE 405000 0 64700
RESOURCE BANCSHARES MTG GRP CO COM 761197102 1119 109200 SH SOLE 65000 0 44200
REXALL SUNDOWN INC COM COM 761648104 628 51500 SH SOLE 29500 0 22000
REYNOLDS METALS CO COM 761763101 3316 56200 SH SOLE 42700 0 13500
RITE AID CORP COM 767754104 28127 1142200 SH SOLE 495300 0 646900
ROHN INDS INC COM COM 775381106 149 108600 SH SOLE 48100 0 60500
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</TABLE>
