FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 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 May 10, 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: 333
FORM 13F INFORMATION TABLE VALUE TOTAL: $2,791,603,000
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
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
ABITIBI-CONSOLIDATED INC COM COM 003924107 180 20427 SH SOLE 5700 0 14727
ADOBE SYS INC COM 00724F101 4302 75800 SH SOLE 72300 0 3500
ADVANCED MICRO DEVICES INC COM COM 007903107 155 10000 SH SOLE 10000 0 0
ADVANTA CORP CL B COM 007942204 329 36804 SH SOLE 28854 0 7950
AETNA INC COM 008117103 33947 409000 SH SOLE 352000 0 57000
AGRIUM INC COM 008916108 175 19000 SH SOLE 0 0 19000
AK STL HLDG CORP COM COM 001547108 253 11200 SH SOLE 11200 0 0
AKER RGI 5.25 07/23/02 CONVERTIBLE BOND 401996W66 503 500000 PRN SOLE 500000 0 0
ALLIED HLDGS INC COM COM 019223106 898 93900 SH SOLE 56000 0 37900
ALLIED SIGNAL INC COM 019512102 246 5000 SH SOLE 0 0 5000
ALLIED WASTE INDS INC COM NEW COM 019589308 144 10000 SH SOLE 0 0 10000
ALLSTATE CORP COM 020002101 3106 83800 SH SOLE 43000 0 40800
ALTERA CORP COM COM 021441100 6143 103250 SH SOLE 47200 0 56050
AMERADA HESS CORP COM 023551104 8676 170528 SH SOLE 124500 0 46028
AMERICA ONLINE INC COM COM 02364J104 273 1860 SH SOLE 1000 0 860
AMERICAN BLDGS CO NEW COM COM 024757106 2790 147800 SH SOLE 147800 0 0
AMERICAN HOME PRODS CORP COM 026609107 7615 116700 SH SOLE 106100 0 10600
AMERICAN INTL GROUP INC COM 026874107 1254 10394 SH SOLE 9483 0 912
AMERON INC COM 030710107 256 7200 SH SOLE 4000 0 3200
AMES DEPT STORES INC COM NEW COM 030789507 2638 71050 SH SOLE 44500 0 26550
AMGEN INC COM 031162100 764 10200 SH SOLE 9800 0 400
AMKOR TECH INC CONV. BOND 5 3/ CONVERTIBLE BOND 031652AA8 9 10000 PRN SOLE 10000 0 0
AMKOR TECHNOLOGY INC COM COM 031652100 8044 1021400 SH SOLE 669400 0 352000
AMR CORP DEL COM 001765106 2980 50882 SH SOLE 40182 0 10700
APP FINANCE VI MAURITIUS LTD 0 CONVERTIBLE BOND 00202NAA3 8942 59611000 PRN SOLE 50668000 0 8943000
APPLIED MATLS INC COM 038222105 4401 71350 SH SOLE 67900 0 3450
APT SATELLITE HLDGS LTD SPONSO COM 00203R105 4645 1857950 SH SOLE 1746100 0 111850
ARM FINL GROUP INC CL A COM 001944107 5067 339200 SH SOLE 274700 0 64500
ARMSTRONG WORLD INDS INC COM COM 042476101 14925 330300 SH SOLE 114350 0 215950
ASHLAND INC COM 044204105 22936 560275 SH SOLE 466300 0 93975
ASK CORP COM 00206E101 0 55000 SH SOLE 0 0 55000
ASSOCIATED MATERIALS INC COM 045709102 587 55200 SH SOLE 32900 0 22300
ASSOCIATES FIRST CAP CORP CL A COM 046008108 1521 33792 SH SOLE 24110 0 9682
ASTORIA FINL CORP COM COM 046265104 250 5000 SH SOLE 0 0 5000
AT HOME CORP COM SER A COM 045919107 2126 13500 SH SOLE 13100 0 400
AT&T CORP COM 001957109 12533 235538 SH SOLE 215640 0 19898
AUTODIE CORP SDCV 7.000 5/01/1 CONVERTIBLE BOND 052770AA2 34 675000 PRN SOLE 675000 0 0
AVONDALE INDUSTRIES INC COM 054350103 1690 57300 SH SOLE 32000 0 25300
BANK ONE CORP COM 06423A103 72894 1323837 SH SOLE 886632 0 437205
BANKAMERICA CORP NEW COM 06605F102 1139 16134 SH SOLE 10000 0 6134
BD GROUP CAP T 6.25% CV PFD CONVERTIBLE PREF 119001303 938 25000 SH SOLE 25000 0 0
BEAR STEARNS COS INC COM 073902108 30988 693447 SH SOLE 273544 0 419903
BEAZER HOMES USA INC COM 07556Q105 4948 235600 SH SOLE 144300 0 91300
BEDFORD PPTY INVS INC COM PAR COM 076446301 287 19600 SH SOLE 4400 0 15200
BELO A H CORP COM SER A COM 080555105 8340 457000 SH SOLE 209000 0 248000
BERKSHIRE RLTY INC COM COM 084710102 1878 167900 SH SOLE 150000 0 17900
BEVERLY ENTERPRISES INC COM NE COM 087851309 19766 3856839 SH SOLE 3481460 0 375379
BIG FLOWER HLDGS INC COM COM 089159107 2728 87650 SH SOLE 37750 0 49900
BRANDYWINE RLTY TR SH BEN INT COM 105368203 700 43100 SH SOLE 5100 0 38000
BRISTOL MYERS SQUIBB CO COM 110122108 269 4200 SH SOLE 3600 0 600
BUDGET GROUP INC CL A COM 119003101 5181 422900 SH SOLE 235100 0 187800
BUDGET GRP CAP T CONV 144A CONVERTIBLE PREF 119001204 3709 107500 SH SOLE 107500 0 0
BWAY CORP COM COM 056039100 1799 136400 SH SOLE 72900 0 63500
CABOT INDL TR COM SH BEN INT COM 127072106 332 17600 SH SOLE 8000 0 9600
CANADIAN HOTL INCM PPTY REITUN COM 135928109 9747 1843320 SH SOLE 1746920 0 96400
CANADIAN PAC LTD NEW COM 135923100 4012 205100 SH SOLE 42450 0 162650
CAPSTAR HOTEL CO NOTE 4.750 10 CONVERTIBLE BOND 140918AC7 720 1000000 PRN SOLE 1000000 0 0
CAPSTEAD MTG CORP COM 14067E100 757 140800 SH SOLE 132800 0 8000
CAPSTEAD MTG CORP PFD B CV $1. CONVERTIBLE PREF 14067E308 5390 446800 SH SOLE 402200 0 44600
CARDIAC SCIENCE INC COM NEW COM 141410209 38 17501 SH SOLE 17501 0 0
CAREER ED CORP COM COM 141665109 1939 56000 SH SOLE 40500 0 15500
CBS CORPORATION COM 12490K107 19823 485700 SH SOLE 305700 0 180000
CENTRAL EUROPEAN DISTRIBUTION COM 153435102 953 136100 SH SOLE 46800 0 89300
CHAMPION ENTERPRISES INC COM 158496109 1893 97700 SH SOLE 19500 0 78200
CHASE MANHATTAN CORP NEW COM 16161A108 1454 17870 SH SOLE 17770 0 100
CHESAPEAKE ENERGY CORP COM COM 165167107 26 19100 SH SOLE 0 0 19100
CHESAPEAKE ENERGY PRF CONVERTIBLE PREF 165167206 106 10000 SH SOLE 10000 0 0
CHICAGO BRIDGE & IRON CO ORD COM N19808109 2304 194000 SH SOLE 106000 0 88000
CHICAGO TITLE CORP COM COM 168228104 1993 54800 SH SOLE 54800 0 0
CHOICE HOTELS INTL INC COM COM 169905106 141 10000 SH SOLE 10000 0 0
CII FINL INC SDCV 7.500 9/15/0 CONVERTIBLE BOND 12551LAB7 374 400000 PRN SOLE 300000 0 100000
CISCO SYSTEMS INC. COM 17275R102 6426 58650 SH SOLE 55150 0 3500
CITIGROUP INC. COM 172967101 34901 546397 SH SOLE 232723 0 313674
COCA COLA CO COM 191216100 832 13561 SH SOLE 13561 0 0
COGNEX CORP COM COM 192422103 336 14200 SH SOLE 11800 0 2400
COLTEC INDS INC COM COM 196879100 869 47800 SH SOLE 26100 0 21700
COLUMBIA / HCA HEALTHCARE CP COM 197677107 24095 1272350 SH SOLE 799500 0 472850
COMCAST CORP CL A COM 200300101 7657 124500 SH SOLE 94521 0 29979
COMCAST CORP CL A SPL COM 200300200 6917 219802 SH SOLE 166200 0 53602
COMPAQ COMPUTER CORP COM 204493100 22222 701300 SH SOLE 280450 0 420850
COMSAT CORP SER 1 COM 20564D107 240 8300 SH SOLE 7500 0 800
CONGOLEUM CORP NEW CL A COM 207195108 133 20000 SH SOLE 20000 0 0
CONNECTICUT BANCORP INC COM 207534108 0 10000 SH SOLE 10000 0 0
CONSECO INC COM COM 208464107 8383 271500 SH SOLE 106900 0 164600
CONSOLDTD FREIGHTWAYS CORP COM 209232107 659 56100 SH SOLE 50200 0 5900
CONSOLIDATED STORES CORP COM COM 210149100 2798 92300 SH SOLE 19100 0 73200
CONTINENTAL AIRLS INC CL B COM 210795308 46219 1216300 SH SOLE 748288 0 468012
CONVERGYS CORP COM COM 212485106 514 30000 SH SOLE 30000 0 0
CORNERSTONE PPTYS INC CDT-COM COM 21922H103 4592 314000 SH SOLE 126550 0 187450
CORPORATE OFFICE PPTYS TR COM COM 22002T108 3219 500000 SH SOLE 500000 0 0
CORRECTIONAL PROPERTY TRUST COM 22025E104 288 19200 SH SOLE 12800 0 6400
COUNTRYWIDE CR INDS INC COM 222372104 134514 3587033 SH SOLE 2803919 0 783114
CRANE CO COM 224399105 5631 232800 SH SOLE 69950 0 162850
CRESTLINE CAP CORP COM COM 226153104 5837 379664 SH SOLE 90900 0 288764
CROWN CORK & SEAL INC COM 228255105 243 8500 SH SOLE 1800 0 6700
CYPRESS SEMICONDUCTOR CORP COM 232806109 169 18800 SH SOLE 4400 0 14400
CYPROS PHARMACEUTICAL CORP COM 232808105 48 17900 SH SOLE 17900 0 0
D R HORTON INC COM COM 23331A109 4896 292300 SH SOLE 79300 0 213000
DAIMLERCHRYSLER AG ORD COM D1668R123 166330 1938290 SH SOLE 1634053 0 304237
DATA DIMENSIONS INC COM PAR $0 COM 237654207 509 110000 SH SOLE 110000 0 0
DELL COMPUTER CORP COM 247025109 4754 116300 SH SOLE 110700 0 5600
DELPHI AUTOMOTIVE SYSTEMS COM 247126105 3697 208300 SH SOLE 130400 0 77900
DELPHI FINL GROUP INC CL A COM 247131105 203 6000 SH SOLE 6000 0 0
DELPHI INFORMATION SYS INC COM COM 247171200 255 30000 SH SOLE 26000 0 4000
DELTA AIR LINES INC DEL COM 247361108 1710 24600 SH SOLE 21000 0 3600
DIAMOND OFFSHORE DRILLNG INCCO COM 25271C102 3379 106850 SH SOLE 64900 0 41950
DISC GRAPHICS INC COM 254590102 99 20000 SH SOLE 0 0 20000
DISNEY WALT PRODTNS COM 254687106 649 20850 SH SOLE 20850 0 0
DISPLAY TECHNOLOGIES INC COM COM 25469V102 208 40000 SH SOLE 40000 0 0
DOLE FOOD INC COM 256605106 786 26200 SH SOLE 0 0 26200
DOLLAR THRIFTY AUTOMOTIVE-W.I. COM 256743105 5988 347112 SH SOLE 136519 0 210593
DUN & BRADSTREET CORP DEL COM COM 26483B106 89838 2521781 SH SOLE 1683600 0 838181
DYNEGY INC COM 26816L102 1758 125000 SH SOLE 69700 0 55300
E TRADE GROUP INC COM COM 269246104 4939 84700 SH SOLE 80800 0 3900
EASTMAN KODAK COM 277461109 15177 237600 SH SOLE 208000 0 29600
ELBIT SYSTEMS LTD ORD COM M3760D101 704 49600 SH SOLE 11000 0 38600
ELDER BEERMAN STORES CORP NECO COM 284470101 1409 163341 SH SOLE 143111 0 20230
ELECTRIC LIGHTWAVE INC CL A COM 284895109 370 40500 SH SOLE 40500 0 0
ELECTRONICS FOR IMAGING INC COM 286082102 1112 28500 SH SOLE 25400 0 3100
ENRON OIL & GAS CO COM 293562104 1298 78100 SH SOLE 42900 0 35200
ENSCO INTL INC COM 26874Q100 4607 346100 SH SOLE 288600 0 57500
ENTERTAINMENT PPTYS TR COM SH COM 29380T105 14318 830000 SH SOLE 474082 0 355918
EQUITY ONE INC COM COM 294752100 434 50000 SH SOLE 50000 0 0
EXXON CORP COM 302290101 16193 229488 SH SOLE 219100 0 10388
FAIRFAX FINL HLDGS LTD CONINGE WARRANT AND RIGH 303901110 18 72800 SH SOLE 72800 0 0
FEDERAL NAT MORTGAGE ASSN COM 313586109 5408 78100 SH SOLE 74200 0 3900
FIBERMARK INC COM 315646109 1065 90200 SH SOLE 51800 0 38400
FIRST INDL RLTY TR INC COM 32054K103 69136 2888200 SH SOLE 2407912 0 480288
FIRST UN CORP COM 337358105 2133 39910 SH SOLE 24210 0 15700
FIRST WASHINGTON RLTY TR INCCO COM 337489504 7077 330100 SH SOLE 240200 0 89900
FIRSTENERGY CORP COM COM 337932107 2433 86880 SH SOLE 44200 0 42680
FNMA CALL JAN00 @45 OPTION - CALL 836 300 SH CALL SOLE 300 0 0
FORD MOTOR COM 345370100 74571 1315475 SH SOLE 1120475 0 195000
FORT JAMES CORPORATION COM 347471104 5986 188900 SH SOLE 114500 0 74400
FOX ENTERTAINMENT GRP INC. A COM 35138T107 814 30000 SH SOLE 30000 0 0
FREMONT GEN CORP COM COM 357288109 1767 92700 SH SOLE 63100 0 29600
GARTNER GROUP INC NEW CL A COM 366651107 1121 49700 SH SOLE 10200 0 39500
GENERAL ELEC CO COM 369604103 1691 15287 SH SOLE 8800 0 6487
GENERAL MTRS CORP COM 370442105 29135 334890 SH SOLE 132788 0 202102
GIBRALTAR STL CORP COM 37476F103 2995 150200 SH SOLE 120000 0 30200
GLOBAL MARINE INC NEW COM 379352404 30634 2607130 SH SOLE 2467630 0 139500
GLOBAL PHARMACEUTICAL CORP COM 378922108 106 33800 SH SOLE 33800 0 0
GOVERNMENT SECS INCOME FD UNIT MUTUAL FUNDS 383744331 6 48815 SH SOLE 48815 0 0
GTECH HLDGS CORP COM COM 400518106 546 22400 SH SOLE 0 0 22400
GULF CDA RES LTD ORD COM 40218L305 3744 1393200 SH SOLE 1048900 0 344300
HARMAN INTL INDS INC NEW COM 413086109 1735 47200 SH SOLE 37500 0 9700
HEWLETT PACKARD CO COM 428236103 936 13800 SH SOLE 13800 0 0
HILTON HOTELS CORP COM COM 432848109 19607 1394300 SH SOLE 1196600 0 197700
HOLLINGER INTL INC CL A COM 435569108 618 45600 SH SOLE 7500 0 38100
HOST MARRIOTT CORP NEW COM COM 44107P104 5416 486804 SH SOLE 191423 0 295381
HURRICANE HYDROCARBONS LTD CL COM 44779E106 6 10000 SH SOLE 10000 0 0
I B M COM 459200101 56983 321485 SH SOLE 205896 0 115589
ICN PHARMACEUTICAL INC NEW COM 448924100 34166 1359852 SH SOLE 1128841 0 231011
IMC GLOBAL INC COM 449669100 24823 1214600 SH SOLE 1126000 0 88600
IMCLONE SYS INC COM 45245W109 945 56000 SH SOLE 53000 0 3000
INCO LTD COM 453258402 1576 118400 SH SOLE 115400 0 3000
INDYMAC MTG HLDGS INC COM COM 456607100 3581 329300 SH SOLE 189300 0 140000
INFINITY BROADCASTING CORP A COM 45662S102 16235 630500 SH SOLE 363100 0 267400
INTEL CORP COM 458140100 15246 256500 SH SOLE 228900 0 27600
INTERSTATE BAKERIES CORP DELCO COM 46072H108 82095 3807300 SH SOLE 2890482 0 916818
INTUIT INC COM COM 461202103 3327 32700 SH SOLE 30000 0 2700
ISPAT INTL N V CL A NY REG SHS COM 464899103 184 24700 SH SOLE 12800 0 11900
JAVELIN SYS INC COM COM 471896100 2718 224200 SH SOLE 205300 0 18900
JLG INDS INC COM 466210101 136 10000 SH SOLE 10000 0 0
JONES INTERCABLE INC CL A COM 480206200 9035 229100 SH SOLE 78800 0 150300
K MART CORP COM 482584109 22483 1337300 SH SOLE 1033320 0 303980
KERR MCGEE CORP COM 492386107 3116 94971 SH SOLE 67046 0 27925
KIMBERLY CLARK CORP COM 494368103 774 16149 SH SOLE 300 0 15849
KNIGHTSBRIDGE TANKERS LTD SHS COM G5299G106 176 10200 SH SOLE 2500 0 7700
KOMAG INC COM 500453105 659 150600 SH SOLE 138600 0 12000
KOOR INDS LTD SPONSORED ADR COM 500507108 1375 65100 SH SOLE 34500 0 30600
LENNAR CORP COM 526057104 3981 177900 SH SOLE 171600 0 6300
LEXINGTON CORPORATE PPTYS TRCO COM 529043101 2162 194300 SH SOLE 84100 0 110200
LIBERTY PPTY TR SH BEN INT COM 531172104 1685 81200 SH SOLE 54000 0 27200
LITTON INDS INC COM 538021106 2235 38500 SH SOLE 21700 0 16800
LNR PPTY CORP COM COM 501940100 905 45800 SH SOLE 39100 0 6700
LOCKHEED MARTIN CORP COM COM 539830109 50611 1340700 SH SOLE 863256 0 477444
LODGIAN INC COM COM 54021P106 103 23200 SH SOLE 12500 0 10700
LOEWS CORP COM 540424108 1866 25000 SH SOLE 25000 0 0
LOMACK FIN TRUST 5.75 CONV PFD CONVERTIBLE PREF 541505400 372 24000 SH SOLE 24000 0 0
LOUISIANA PAC CORP COM 546347105 30464 1635660 SH SOLE 1384400 0 251260
LUCENT TECHNOLOGIES INC COM COM 549463107 509 9420 SH SOLE 4400 0 5020
LYONDELL PETROCHEMICAL CO COM COM 552078107 339 24733 SH SOLE 24733 0 0
MARK IV INDS INC COM 570387100 8298 638300 SH SOLE 253200 0 385100
MARTIN MARIETTA MTLS INC COM 573284106 11438 200450 SH SOLE 60500 0 139950
MCI WORLDCOM COM 55268B106 5225 58997 SH SOLE 53300 0 5697
MEDIAONE GROUP INC COM COM 58440J104 77999 1229536 SH SOLE 583523 0 646013
MEDIMMUNE INC COM COM 584699102 296 5000 SH SOLE 5000 0 0
MERCK & CO INC COM 589331107 989 12342 SH SOLE 7480 0 4862
MERISTAR HOSPITALITY CORP COM COM 58984Y103 4076 224100 SH SOLE 159100 0 65000
MERISTAR HOTELS & RESORTS INCO COM 589988104 347 126096 SH SOLE 89381 0 36715
MERRILL LYNCH & CO INC COM 590188108 75034 847840 SH SOLE 654184 0 193656
METROMEDIA INTL GROUP INC PFD CONVERTIBLE PREF 591695200 2906 108650 SH SOLE 49700 0 58950
MICRON ELECTRONICS INC COM 595100108 15441 1314100 SH SOLE 1074000 0 240100
MICRON TECHNOLOGY INC COM 595112103 482 10000 SH SOLE 7000 0 3000
MICROSOFT CORP COM 594918104 2026 22600 SH SOLE 21400 0 1200
MIDCOAST ENERGY RES INC COM 59563W104 2321 149725 SH SOLE 36525 0 113200
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 120 11700 SH SOLE 8200 0 3500
MITCHELL ENERGY & DEV CORP CL COM 606592202 193 15500 SH SOLE 0 0 15500
MITCHELL ENERGY & DEV CORP CL COM 606592301 1386 110900 SH SOLE 48500 0 62400
MONDAVI ROBERT CORP CL A COM 609200100 1073 30000 SH SOLE 30000 0 0
MONTANA PWR CO COM 612085100 522 7100 SH SOLE 0 0 7100
MOTOROLA INC COM 620076109 256 3500 SH SOLE 3500 0 0
NEIMAN MARCUS GROUPS INC COM 640204103 1041 46000 SH SOLE 10500 0 35500
NETWORKS ASSOCS INC COM COM 640938106 24074 784500 SH SOLE 696150 0 88350
NEWBRIDGE NETWORKS CORP COM COM 650901101 1755 55700 SH SOLE 18000 0 37700
NEWELL RUBBERMAID INC. COM 651229106 13975 294200 SH SOLE 104100 0 190100
NEWHALL LD & FARMING CO COM COM 651426108 239 10000 SH SOLE 10000 0 0
NEWS CORP LTD ADR SPONS PREF COM 652487802 82121 2986200 SH SOLE 1973640 0 1012560
NIELSEN MEDIA RESEARCH COM 653929307 7024 284526 SH SOLE 131723 0 152804
NITINOL MED TECHNOLOGIES INCCO COM 65476T104 217 55000 SH SOLE 55000 0 0
NOBLE DRILLING CORP COM 655042109 51004 2935482 SH SOLE 2517682 0 417800
NOBLE INTERNATIONAL COM 655053106 2025 190550 SH SOLE 151700 0 38850
NORTHERN TR CORP COM COM 665859104 444 5000 SH SOLE 5000 0 0
NORTHROP GRUMMAN CORP COM COM 666807102 1018 17000 SH SOLE 17000 0 0
NORTHWEST AIRLINES CORP COM COM 667280101 5296 190400 SH SOLE 134300 0 56100
NTL INC COM 629407107 16645 204547 SH SOLE 54448 0 150099
NUEVO ENERGY CO COM 670509108 1812 134250 SH SOLE 58700 0 75550
O'SULLIVAN INDS HLDGS INC COM COM 688609106 3450 249800 SH SOLE 146200 0 103600
OCEAN ENERGY INC. COM 67481E106 638 93600 SH SOLE 83100 0 10500
OLSTEN CORP COM 681385100 2334 377200 SH SOLE 377200 0 0
OWENS CORNING COM 69073F103 309 9700 SH SOLE 6000 0 3700
OWENS ILL INC NEW COM 690768403 41303 1652100 SH SOLE 1163550 0 488550
OWENS & MINOR INC NEW COM 690732102 2674 264100 SH SOLE 149000 0 115100
PACIFIC GULF PPTYS INC COM COM 694396102 6159 342150 SH SOLE 124550 0 217600
PACIFIC SUMMA CAP CORP COM COM 694920109 0 25000 SH SOLE 0 0 25000
PACIFICORP OREGON COM 695114108 2846 165000 SH SOLE 164000 0 1000
PARK PL ENTMT CORP COM COM 700690100 1097 145000 SH SOLE 145000 0 0
PARKER DRILLING CO NOTE 5.500 CONVERTIBLE BOND 701081AD3 665 1000000 PRN SOLE 1000000 0 0
PARTY CITY CORP COM COM 702145103 767 194700 SH SOLE 181700 0 13000
PATINA OIL & GAS CORP COM 703224105 4686 1171500 SH SOLE 788660 0 382840
PEAK INTERNATIONAL LIMITED ORD COM G69586108 1413 611100 SH SOLE 561200 0 49900
PEAK TRENDS TRUST CONV PREF CONVERTIBLE PREF 70468N107 4630 1122400 SH SOLE 851600 0 270800
PENN ENGR & MFG CORP NON-VTG COM 707389300 667 35100 SH SOLE 32600 0 2500
PENNEY J C INC COM 708160106 1924 47500 SH SOLE 47500 0 0
PENNZENERGY CO 4.900% 08/15/08 CONVERTIBLE BOND 70931QAA7 29 29000 PRN SOLE 0 0 29000
PEPSICO INC COM 713448108 387 9863 SH SOLE 6993 0 2870
PETROLEO BRASILEIRO SA ADR COM 71654V200 6518 472000 SH SOLE 472000 0 0
PETRO-CDA COM 71644E102 5813 494700 SH SOLE 393100 0 101600
PFIZER INC COM 717081103 1610 11600 SH SOLE 9300 0 2300
PHARMACIA & UPJOHN INC COM 716941109 16330 261800 SH SOLE 242900 0 18900
PHARMERICA INC COM COM 717135107 274 54805 SH SOLE 30392 0 24413
PILGRIM FD PRIME RATE TR NEW-S MUTUAL FUNDS 72146W103 94 10000 SH SOLE 1900 0 8100
PIXAR COM COM 725811103 2847 72300 SH SOLE 66900 0 5400
PNC FINANCIAL CORP COM 693475105 5797 104330 SH SOLE 64955 0 39375
POTASH CORP SASK INC COM 73755L107 6040 112900 SH SOLE 59300 0 53600
POTOMAC ELEC PWR CO DBCV 5.000 CONVERTIBLE BOND 737679BT6 58 60750 PRN SOLE 50000 0 10750
PREMIER FARNELL SP ADR REP 2OR COM 74050U107 257 41600 SH SOLE 0 0 41600
PREVIEW TRAVEL INC COM COM 74137R101 870 45800 SH SOLE 39800 0 6000
PRIDE INTL INC PDE 0% 4/24/18 CONVERTIBLE BOND 741932AB3 1813 7400000 PRN SOLE 6700000 0 700000
PRIME HOSPITALITY CORP COM 741917108 579 58300 SH SOLE 46600 0 11700
QUALCOMM INC COM COM 747525103 211 1700 SH SOLE 800 0 900
QUANTUM CORP COM 747906105 1121 62300 SH SOLE 50800 0 11500
QUESTAR CORP COM COM 748356102 1257 74200 SH SOLE 56100 0 18100
R & B FALCON CORP COM 74912E101 12651 1466780 SH SOLE 1351310 0 115470
RELIANCE GROUP HLDGS INC COM 759464100 10655 1386000 SH SOLE 566130 0 819870
RESOURCE BANCSHARES MTG GRP CO COM 761197102 2030 157700 SH SOLE 93600 0 64100
REXALL SUNDOWN INC COM COM 761648104 1648 85900 SH SOLE 51100 0 34800
REYNOLDS METALS CO COM 761763101 16276 336900 SH SOLE 239300 0 97600
RITE AID CORP COM 767754104 16578 663100 SH SOLE 265600 0 397500
ROHN INDS INC COM COM 775381106 228 102600 SH SOLE 44945 0 57655
ROLLINS TRUCK LEASING CORP COM 775741101 236 25000 SH SOLE 0 0 25000
ROSS STORES INC COM COM 778296103 23427 534700 SH SOLE 370300 0 164400
RYDER SYS INC COM COM 783549108 3238 117200 SH SOLE 116700 0 500
SAKS INC COM COM 79377W108 26967 1037200 SH SOLE 757200 0 280000
SANTA FE ENERGY RES INC COM 802012104 4524 613453 SH SOLE 487922 0 125531
SBC COMMUNICATIONS INC COM 78387G103 454 9630 SH SOLE 0 0 9630
SBS BROADCASTING ORD COM L8137F102 5392 167850 SH SOLE 39300 0 128550
SCANDINAVIAN BROADCASTING 7.25 CONVERTIBLE BOND 805906AA2 7407 6643000 PRN SOLE 2175250 0 4467750
SCHERING PLOUGH CORP COM 806605101 459 8308 SH SOLE 5500 0 2808
SCOTTISH ANNUITY & LIFE HLDGOR COM G7885T104 195 20000 SH SOLE 20000 0 0
SEACOR SMIT INC COM 811904101 1055 19600 SH SOLE 9000 0 10600
SECTOR SPDR TR SH BN INT-TCHLY MUTUAL FUNDS 81369Y803 4801 131200 SH SOLE 50400 0 80800
SECTOR SPDR TR SHS BEN INT-CON MUTUAL FUNDS 81369Y308 9956 376600 SH SOLE 225300 0 151300
SECURITY DYNAMICS TECH INC COM COM 814208104 186 10000 SH SOLE 0 0 10000
SHAW COMMUNICATIONS INC CL B C COM 82028K200 9867 306550 SH SOLE 96000 0 210550
SHELBY WILLIAMS INDS INC COM COM 822135109 906 94700 SH SOLE 39900 0 54800
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