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Previous: ENEX OIL & GAS INCOME PROGRAM II-4 L P, PRE13E3, 1995-11-28 |
Next: GMO TRUST, 13F-E, 1995-11-28 |
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<PAGE> PAGE 1
SECURITIES AND EXCHANGE COMMISSION
FORM 13F-E
Report for the Calendar Year or Quarter Ended: 06/30/95
Institutional Investment Manager:
GRANTHAM, MAYO, VAN OTTERLOO & CO.
40 ROWES WHARF
BOSTON MA 02110
I REPRESENT THAT I AM AUTHORIZED TO SUBMIT THIS FORM AND THAT ALL INFORMATION IN
THIS FORM AND THE ATTACHMENTS TO IT IS TRUE, CORRECT AND COMPLETE AND I
UNDERSTAND THAT ALL REQUIRED ITEMS, STATEMENTS AND SCHEDULES ARE INTEGRAL PARTS
OF THIS FORM AND THAT THE SUBMISSION OF ANY AMENDMENT REPRESENTS THAT ALL
UNAMENDED ITEMS, STATEMENTS AND SCHEDULES REMAIN TRUE, CORRECT AND COMPLETE AS
PREVIOUSLY SUBMITTED.
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES AND EXCHANGE ACT OF 1934.
Name, Title and Telephone Number of Person Submitting Report:
FORREST BERKLEY PARTNER (617) 346-7578
Signature, Place and Date of Signing:
/s/ FORREST BERKLEY BOSTON MA 11/28/95
Other Managers on Whose Behalf this Report is Filed:
01 STRATEGIC INVESTMENT MANAGEMENT 028-02437
02 STRATEGIC INVESTMENT MANAGEMENT INTERNATIONAL 028-02495
03 STRATEGIC INVESTMENT PARTNERS, INC. 028-02436
<PAGE> PAGE 2
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
FIRST CENTRAL FINANCI CONVERT 109228006 270 270000 SH SOLE 0 0 270000
OHM CORPORATION 8.000 CONVERT 670839AA7 470 500000 SH SOLE 0 0 500000
ACE LTD COMMON G0070K103 1160 40000 SH SOLE 30000 0 10000
AAR CORP COMMON 000361105 313 17500 SH SOLE 17500 0 0
AMLI RESIDENTIAL PROP COMMON 001735109 1805 95000 SH SOLE 70000 0 25000
AMR CORP COMMON 001765106 14365 192500 SH OTHER 120900 22400 49200
AT & T CORP. COMMON 001957109 9858 186002 SH OTHER 107202 34000 44800
A T & T CAP CORP COMMON 00206J100 1134 42400 SH OTHER 25000 16800 600
ABITIBI PRICE IND COMMON 003680105 569 35000 SH OTHER 25000 0 10000
ADVANCED MICRO DEVICE COMMON 007903107 3650 100000 SH OTHER 56500 29500 14000
AETNA LIFE & CAS CO COMMON 008140105 19334 307500 SH OTHER 182900 43800 80800
AIR TOUCH COMMUNICATI COMMON 00949T100 3420 120000 SH OTHER 90000 7500 22500
ALBEMARLE CORP COM COMMON 012653101 5078 325000 SH OTHER 174500 66000 84500
ALCAN ALUMINIUM LTD COMMON 013716105 4253 140000 SH OTHER 65000 55000 20000
ALEXANDER & ALEXANDER COMMON 014476105 24890 1042500 SH OTHER 725300 7200 310000
ALEXANDER & ALEXANDER CONVERT 014476501 13500 270000 SH OTHER 181700 7000 81300
ALLERGAN INC COMMON 018490102 5018 185000 SH OTHER 118500 35700 30800
ALLSTATE COMMON 020002101 5140 173500 SH OTHER 113500 7500 52500
AMERADA HESS CORP COMMON 023551104 7331 150000 SH OTHER 97100 13700 39200
AMERICAN BRANDS INC COMMON 024703100 6658 167500 SH OTHER 66500 78500 22500
AMERICAN EXPRESS COMMON 025816109 36396 1032500 SH OTHER 573300 219600 239600
AMERICAN GENERAL CORP COMMON 026351106 591 17500 SH OTHER 5000 12500 0
AMERICAN SAFETY RAZOR COMMON 029362100 3525 300000 SH OTHER 209700 7500 82800
AMERICAN STORES COMMON 030096101 6609 235000 SH OTHER 151500 25300 58200
AMSCO INTL INC COM COMMON 032161101 173 12500 SH SOLE 12500 0 0
ANALOG DEVICES INC COMMON 032654105 578 17000 SH OTHER 16500 500 0
ANHEUSER BUSCH COS IN COMMON 035229103 2076 36500 SH OTHER 24000 7500 5000
ANTHONY INDS INC COMMON 036798106 3931 212500 SH OTHER 124500 20000 68000
AON CORP COMMON 037389103 283 7600 SH OTHER 5100 2500 0
ARCHER DANIELS MIDLAN COMMON 039483102 2002 112875 SH OTHER 73500 23625 15750
ARMCO INC COMMON 042170100 3038 450000 SH OTHER 231500 70000 148500
ARMCO CONV. PFD. 7.25 CONVERT 042170407 3142 60000 SH OTHER 32800 5000 22200
ASARCO INC COMMON 043413103 1982 65000 SH OTHER 32500 25000 7500
ASHLAND INC. COMMON 044204105 440 12500 SH OTHER 7500 5000 0
ASHLAND 3.125% CONV P CONVERT 044204204 4754 82500 SH SOLE 64000 0 18500
ASIA PULP & PAPER CO COMMON 04516V100 2525 200000 SH OTHER 165000 25000 10000
ASTRA AB COMMON 046298105 330 10700 SH OTHER 10000 700 0
ATLANTIC RICHFIELD CO COMMON 048825103 1098 10000 SH OTHER 10000 0 0
ATLANTIC RICHFIELD PF CONVERT 048825137 1300 50000 SH SOLE 50000 0 0
AU BON PAIN INC COMMON 050103100 1151 95000 SH OTHER 55000 17500 22500
AVNET COMMON 053807103 24125 500000 SH OTHER 336100 29200 134700
BAT INDUST SPONSORED COMMON 055270508 1153 75000 SH OTHER 64600 400 10000
BCE INC COMMON 05534B109 642 20000 SH SOLE 20000 0 0
BANK BOSTON COPR COMMON 060716107 1875 50000 SH OTHER 26000 0 24000
BANKAMERICA CORP COMMON 066050105 3817 72527 SH OTHER 15527 32500 24500
BARD C R INC N J COMMON 067383109 300 10000 SH SOLE 10000 0 0
BATTLE MTN GOLD CONV CONVERT 071593305 276 5000 SH SOLE 5000 0 0
BAXTER INTL INC COMMON 071813109 35738 982500 SH OTHER 663900 51000 267600
BAY NETWORK COMMON 072510100 776 18750 SH OTHER 18750 0 0
BAYER AG SPONS ADR COMMON 072730302 1491 60000 SH OTHER 27500 12500 20000
<PAGE> PAGE 3
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
BELL ATLANTIC CORP COMMON 077853109 3640 65000 SH OTHER 43200 2800 19000
BETHLEHEM STL CORP COMMON 087509105 2113 130000 SH OTHER 75000 30000 25000
BEVERLY ENTERPRISES COMMON 087851101 12063 974800 SH OTHER 581100 164700 229000
BLACK & DECKER CORP COMMON 091797100 20686 670000 SH OTHER 457700 24800 187500
BOEING CO COMMON 097023105 376 6000 SH SOLE 6000 0 0
BOISE CASCADE PFD G CONVERT 097383863 3338 100000 SH OTHER 65000 30000 5000
BOMBAY CO INC COM COMMON 097924104 462 57800 SH OTHER 32500 0 25300
BORDEN CHEM & PLASTIC COMMON 099541203 4376 239800 SH OTHER 145800 26500 67500
BRASCAN LTD CL A COMMON 105502405 1811 115000 SH OTHER 92000 0 23000
BRISTOL MYERS SQUIBB COMMON 110122108 273 4000 SH SOLE 4000 0 0
BURLINGTON INDS INC N COMMON 121693105 3853 335000 SH OTHER 230000 40000 65000
BURLINGTON NORTHN INC COMMON 121897102 317 5000 SH SOLE 5000 0 0
C B I INDUSTRIES COMMON 124800103 15578 620000 SH OTHER 386800 75700 157500
CIGNA CORP COMMON 125509109 8849 114000 SH OTHER 79000 5800 29200
CMS ENERGY CORP COMMON 125896100 2083 85000 SH OTHER 57200 12700 15100
CANADIAN PACIFIC LIMI COMMON 136440302 18859 1085000 SH OTHER 669900 147500 267600
CAREMARK INTERNATIONA COMMON 141704106 2450 122500 SH OTHER 105000 12500 5000
CELLULAR COMMUNICATIO CONVERT 150917201 223 5000 SH OTHER 0 5000 0
CENTERIOR ENERGY CORP COMMON 151883105 9071 942500 SH OTHER 545900 168000 228600
CENTOCOR INC COMMON 152342101 2147 150000 SH OTHER 90000 10000 50000
CHAMPION INTL CORP SD CONVERT 158525AD7 243 165000 SH SOLE 0 0 165000
CHAMPION INTL CORP COMMON 158525105 4431 85000 SH OTHER 41500 16000 27500
CHASE MANHATTAN CORP COMMON 161610100 12690 270000 SH OTHER 174500 29200 66300
CHEMICAL BANKING CORP COMMON 163722101 21263 450000 SH OTHER 273900 64000 112100
CHRYSLER CORP COMMON 171196108 1747 36500 SH OTHER 36500 0 0
CINCINNATI MILACRON I COMMON 172172108 4185 155000 SH OTHER 109500 0 45500
CINERGY CORP COMMON 172474108 2730 104000 SH OTHER 45000 46500 12500
CITICORP COMMON 173034109 30935 534511 SH OTHER 323763 72319 138429
CITICORP PREFERRED 1. CONVERT 173034430 11417 563780 SH OTHER 212091 258207 93482
CITICORP 5.375% CONV. CONVERT 173034513 16310 102500 SH OTHER 48500 35000 19000
COCA COLA ENTERPRISES COMMON 191219104 6016 275000 SH OTHER 191600 300 83100
COLTEC INDS INC COM COMMON 196879100 949 55000 SH OTHER 35000 0 20000
COMERICA INC COMMON 200340107 321 10000 SH OTHER 10000 0 0
COMMUNITY PSYCHIATRIC COMMON 204015101 900 80000 SH SOLE 50000 0 30000
COMSAT CORP COMMON 20564D107 2110 107500 SH OTHER 76000 12500 19000
CONE MLS CORP N C COM COMMON 206814105 1725 134000 SH OTHER 92500 0 41500
CONSOLIDATED FREIGHTW COMMON 209237106 1430 65000 SH OTHER 50000 0 15000
COORS ADOLPH COMPANY COMMON 217016104 6878 420000 SH OTHER 255700 64500 99800
CORDIANT PLC SPONSORE COMMON 218514107 1159 244000 SH OTHER 181500 0 62500
CORNING INC COMMON 219350105 11135 340000 SH OTHER 203600 50000 86400
CRAY RESEARCH INC COMMON 225224104 7617 312500 SH OTHER 217500 0 95000
CROWN AMERICAN RLTY T COMMON 228186102 8338 660000 SH OTHER 414500 46500 199000
CUMMINS ENGINE INC COMMON 231021106 7045 161500 SH OTHER 113300 8700 39500
CYPRUS AMAX MINERALS COMMON 232809103 2423 85000 SH OTHER 40000 37500 7500
CYTEC INDS INC COM COMMON 232820100 4613 112500 SH OTHER 79000 2500 31000
DPL INC COMMON 233293109 2385 107800 SH OTHER 55000 22800 30000
DATA GEN CORP COMMON 237688106 5029 522500 SH OTHER 301000 71500 150000
DAYTON HUDSON CORP COMMON 239753106 969 13500 SH OTHER 7000 2000 4500
DEBARTOLO RLTY CORP C COMMON 242733103 1901 130000 SH SOLE 115000 0 15000
DELTA AIRLINES INC COMMON 247361108 5347 72500 SH OTHER 44700 3500 24300
<PAGE> PAGE 4
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
DELTA 7% CONV PFD CONVERT 247361306 1755 30000 SH OTHER 16500 3500 10000
DETROIT EDISON CO COMMON 250847100 1033 35000 SH SOLE 30000 0 5000
DEXTER CORP COMMON 252165105 295 12500 SH OTHER 10000 2500 0
DIGITAL EQUIPMENT COMMON 253849103 42788 1050000 SH OTHER 628000 160900 261100
DISNEY WALT PRODTNS COMMON 254687106 239 4300 SH SOLE 4300 0 0
DOW CHEMICAL COMMON 260543103 3019 42000 SH OTHER 24900 5500 11600
DRESSER INDS INC COMMON 261597108 2169 97500 SH OTHER 57500 16900 23100
DU PONT E I DE NEMOUR COMMON 263534109 7116 103500 SH OTHER 73500 10300 19700
DUN & BRADSTREET INC COMMON 264830100 2413 45960 SH OTHER 19960 11000 15000
EASTMAN CHEM CO COM COMMON 277432100 684 11500 SH OTHER 11500 0 0
EASTMAN KODAK COMMON 277461109 65627 1082500 SH OTHER 672900 133500 276100
ECHO BAY CONV PFD CONVERT 27875L207 2684 95000 SH OTHER 55600 200 39200
ELF AQUITAINE SPONSOR COMMON 286269105 1304 35000 SH OTHER 24500 1000 9500
ENSERCH CORP COMMON 293567103 6679 390000 SH OTHER 246900 30000 113100
ENTERGY CORP NEW COM COMMON 29364G103 3136 130000 SH OTHER 60000 55000 15000
ETHYL CORP COMMON 297659104 372 35000 SH OTHER 0 10000 25000
EVANS WITHYCOMBE RESI COMMON 299212100 2802 137500 SH OTHER 73900 10500 53100
EXXON CORP COMMON 302290101 1248 17665 SH OTHER 2500 15165 0
FMC CORP NEW COMMON 302491303 13114 195000 SH OTHER 133700 3800 57500
FEDERAL MOGUL CORP COMMON 313549107 1688 92500 SH OTHER 82500 0 10000
FEDERATED DEPARTMENT COMMON 31410H101 11330 440000 SH OTHER 307700 13600 118700
FIRST CHICAGO CORP COMMON 319455101 11825 197500 SH OTHER 130800 2900 63800
FIRST COLONY CORP COM COMMON 319741104 840 35000 SH OTHER 20000 15000 0
FIRST INTERSTATE BANC COMMON 320548100 12920 161000 SH OTHER 111300 3000 46700
FIRST UNION CORP COMMON 337358105 226 5000 SH OTHER 0 5000 0
FISHER SCIENTIFIC INT COMMON 338032105 8116 245000 SH OTHER 132900 54000 58100
FLEETWOOD ENTERPRISES COMMON 339099103 3802 192500 SH OTHER 124400 5000 63100
FLEMING COS INC COMMON 339130106 729 27500 SH OTHER 0 22500 5000
FOOD LION INC CLASS A COMMON 344775200 1763 300000 SH SOLE 200000 0 100000
FORD MOTOR COMMON 345370100 893 30000 SH OTHER 10000 20000 0
FORD MOTOR CO DEPOSIT CONVERT 345370209 874 9000 SH OTHER 4000 0 5000
FORT HOWARD CORP NEW COMMON 347461105 1589 112500 SH OTHER 86500 15000 11000
FOUNDATION HEALTH COR COMMON 350401105 814 30000 SH SOLE 20000 0 10000
FREEPORT MCMORAN COPP CONVERT 35671D600 6769 190000 SH OTHER 119700 16700 53600
FUJI PHOTO ADR NEW COMMON 359586302 475 10000 SH OTHER 8500 0 1500
GTE CORP COMMON 362320103 52689 1544000 SH OTHER 935700 226000 382300
ARTHUR J GALLAGHER & COMMON 363576109 4729 130000 SH OTHER 85400 2900 41700
GENCORP INC COMMON 368682100 2311 215000 SH OTHER 139000 7500 68500
GENERAL ELECTRIC COMMON 369604103 16405 291000 SH OTHER 199000 20400 71600
GENERAL MTRS CORP COMMON 370442105 14766 315000 SH OTHER 157800 86300 70900
GENERAL PUB UTILS COR COMMON 370550105 1041 35000 SH OTHER 10000 25000 0
GENERAL RE CORP COMMON 370563108 536 4000 SH OTHER 2500 1500 0
GENZYME CORP COMMON 372917104 240 6000 SH SOLE 6000 0 0
GEORGIA GULF CORP COM COMMON 373200203 6770 207500 SH OTHER 136200 15000 56300
GERBER SCIENTIFIC INS COMMON 373730100 310 18500 SH OTHER 18500 0 0
GIDDINGS & LEWIS INC COMMON 375048105 2145 120000 SH OTHER 80000 15000 25000
GLAXO PLC SPONSORED A COMMON 37733W105 4622 189600 SH OTHER 137100 6000 46500
GLOBAL MARINE INC COM COMMON 379352404 881 150000 SH OTHER 150000 0 0
B F GOODRICH $3.50 CO CONVERT 382388502 250 4900 SH SOLE 0 0 4900
GRACE W R & CO COMMON 383883105 1043 17000 SH SOLE 2000 0 15000
<PAGE> PAGE 5
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
GRAND MET PLC SPONSOR COMMON 386090302 298 11900 SH OTHER 2900 3500 5500
GREAT WESTN FINL CORP COMMON 391442100 1289 62500 SH OTHER 27500 17500 17500
GRIFFON CORP COM COMMON 398433102 5600 700000 SH OTHER 472500 22500 205000
HAEMONETICS CORP COM COMMON 405024100 481 25000 SH SOLE 25000 0 0
HALLIBURTON CO COMMON 406216101 1788 50000 SH OTHER 35000 0 15000
HANSON TR PLC SPONSOR COMMON 411352305 10675 610000 SH OTHER 381900 73200 154900
HARRIS CORP COMMON 413875105 336 6500 SH OTHER 4300 2200 0
HERCULES INC COMMON 427056106 268 5500 SH OTHER 5300 200 0
HILB ROGAL & HAMILTON COMMON 431294107 1250 100000 SH OTHER 72500 0 27500
HOMESTAKE MNG CO COMMON 437614100 164 10000 SH SOLE 0 0 10000
HOST MARRIOTT CORP COMMON 441078102 1063 100000 SH OTHER 87500 0 12500
HUNT J B TRANS SVCS I COMMON 445658107 3951 215000 SH OTHER 143900 5600 65500
IMC GLOBAL INC COMMON 449669100 2436 45000 SH OTHER 22500 0 22500
ITT CORP COMMON 450679105 1704 14500 SH OTHER 4500 7500 2500
ILLANOVA CORP COM COMMON 452317100 1015 40000 SH OTHER 15000 25000 0
IMPERIAL OIL LTD COM COMMON 453038408 5198 140000 SH OTHER 87500 12500 40000
INCO LTD COMMON 453258402 1695 60000 SH OTHER 7500 50000 2500
INFORMATION RES INC COMMON 456905108 713 50000 SH OTHER 45000 5000 0
INTEL CORP COMMON 458140100 11871 187500 SH OTHER 127500 29000 31000
INTERGRAPH CORP COMMON 458683109 834 75000 SH OTHER 65000 0 10000
INTERMET CORP COMMON 45881K104 1639 172500 SH OTHER 117500 0 55000
INTERNATIONAL BUSINES COMMON 459200101 49440 515000 SH OTHER 301800 69500 143700
INTERNATIONAL PAPER C COMMON 460146103 3006 70100 SH OTHER 30600 39500 0
INTL TECHNOLOGY CORP COMMON 460465107 1500 500000 SH OTHER 327500 0 172500
INTERNATIONAL TECH 1. CONVERT 460465305 1450 80000 SH OTHER 67500 0 12500
INTERSTATE BAKERIES C COMMON 46072H108 413 25000 SH SOLE 20000 0 5000
IRVINE APT CMNTYS INC COMMON 463606103 1121 65000 SH SOLE 45000 0 20000
JP RLTY INC COM COMMON 46624A106 20705 1010000 SH OTHER 698300 32000 279700
JAMES RIVER CORP COMMON 470349101 14503 525000 SH OTHER 323500 62900 138600
JR CORP SERIES P 9% CONVERT 470349887 14726 595000 SH OTHER 329000 126500 139500
JOHN ALDEN FINL CORP COMMON 477838106 1499 87500 SH OTHER 60000 5000 22500
JOHN NUVEEN CO CL A COMMON 478035108 439 18300 SH OTHER 13300 4100 900
JOHNSON & JOHNSON COMMON 478160104 3173 47000 SH OTHER 32700 1800 12500
K MART CORP COMMON 482584109 12248 837500 SH OTHER 533500 79900 224100
KELLWOOD COMMON 488044108 2465 145000 SH OTHER 110000 5000 30000
KEMPER CORP COMMON 488396102 12822 275000 SH OTHER 115800 109000 50200
KERR-MCGEE CORP COMMON 492386107 1747 32500 SH OTHER 19300 6000 7200
KUHLMAN CORP COMMON 501206106 468 42500 SH OTHER 42500 0 0
LASMO ADR FOREIGN 501730204 8048 975500 SH OTHER 679700 10500 285300
LTV CORP NEW COM COMMON 501921100 1243 85000 SH OTHER 35000 10000 40000
LTX CORP COMMON 502392103 444 50000 SH OTHER 25000 0 25000
LABORATORY CORP AMER COMMON 50540R102 2783 210000 SH OTHER 150000 5000 55000
LIBERTY CORP S C COMMON 530370105 3406 125000 SH OTHER 92500 0 32500
LIFE RE CORP COM COMMON 532160108 5075 272500 SH OTHER 163500 33500 75500
LILLY ELI & CO COMMON 532457108 15700 200000 SH OTHER 124900 32300 42800
LIMITED STORES INC COMMON 532716107 220 10000 SH SOLE 10000 0 0
LIN BROADCASTING CORP COMMON 532763109 278 2200 SH SOLE 2200 0 0
LOCKHEED MARTIN CORP COMMON 539830109 852 13500 SH OTHER 3000 1500 9000
LOEWS CORP COMMON 540424108 2118 17500 SH OTHER 7500 7500 2500
LUBRIZOL CORP COMMON 549271104 1680 47500 SH OTHER 40600 2400 4500
<PAGE> PAGE 6
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
MCI COMMUNICATIONS CO COMMON 552673105 18590 845000 SH OTHER 479500 161500 204000
MARSH MCLENNAN COMMON 571748102 811 10000 SH OTHER 5000 2500 2500
MASCOTECH INC COM COMMON 574670105 17449 1410000 SH OTHER 816400 256700 336900
MASCOTECH PFD DIV ENH CONVERT 574670303 1072 75200 SH OTHER 49000 26200 0
MAXUS ENERGY CORP $4 CONVERT 577730203 506 12500 SH OTHER 12500 0 0
MAY DEPT STORES CO COMMON 577778103 1145 27500 SH OTHER 22500 5000 0
MAYTAG CO COMMON 578592107 8320 520000 SH OTHER 299500 105000 115500
MERCK & CO COMMON 589331107 672 13680 SH OTHER 0 5180 8500
METHANEX CORP COM COMMON 59151K108 1214 145000 SH OTHER 90000 30000 25000
MINNESOTA MNG & MFG C COMMON 604059105 1658 28900 SH OTHER 18500 10400 0
MITCHELL ENERGY & DEV COMMON 606592202 662 36500 SH OTHER 30500 1000 5000
MITCHELL ENERGY & DEV COMMON 606592301 3530 197500 SH OTHER 124100 14500 58900
MOBIL CORP COMMON 607059102 7920 82500 SH OTHER 49000 10300 23200
MOORE LTD COMMON 615785102 3159 142800 SH OTHER 102300 5000 35500
MORNINGSTAR GROUP INC COMMON 617698105 2936 405000 SH OTHER 238500 17500 149000
MOTOROLA INC COMMON 620076109 2014 30000 SH OTHER 19000 3500 7500
NATIONAL RE HLDGS COR COMMON 637340209 5799 173100 SH OTHER 115600 10000 47500
NATIONAL STL CORP COMMON 637844309 4185 270000 SH OTHER 180000 37500 52500
NATIONSBANK CORP COM COMMON 638585109 5094 95000 SH OTHER 56000 13000 26000
NAVISTAR INTL CORP PF CONVERT 638901405 17030 327500 SH OTHER 208050 38100 81350
NAVISTAR INTL CORP CO COMMON 63934E108 5483 362500 SH OTHER 240000 10000 112500
NESTLES ADR FOREIGN 641069406 29007 557500 SH OTHER 396900 22700 137900
NETWORK PERIPHERALS I COMMON 64121R100 1363 62500 SH OTHER 2500 0 60000
NEW YORK TIMES CO CLA COMMON 650111107 497 21150 SH SOLE 6150 0 15000
NEWMONT GOLD CO COM COMMON 651637100 403 10000 SH SOLE 0 0 10000
NEWMONT MNG CORP COMMON 651639106 272 6500 SH SOLE 6500 0 0
NIAGARA MOHAWK PWR CO COMMON 653522102 25641 1753200 SH OTHER 1031600 335900 385700
NOBLE AFFILIATES COMMON 654894104 293 11501 SH OTHER 11101 400 0
NORAM ENERGY CORP COM COMMON 655419109 9588 1475000 SH OTHER 912900 125800 436300
NORAM ENERGY CORP PFD CONVERT 655419208 1744 50000 SH SOLE 49000 0 1000
NORTHEAST UTILS COMMON 664397106 5040 224000 SH OTHER 136300 25500 62200
NORTH WESTERN STEEL A COMMON 668367204 3250 400000 SH OTHER 285000 10000 105000
NOVELL INC COMMON 670006105 479 24000 SH OTHER 20500 0 3500
NYNEX CORP COMMON 670768100 684 17000 SH SOLE 7000 0 10000
OHM CORP COM COMMON 670839109 2122 175000 SH OTHER 125000 5000 45000
OCCIDENTAL PETE CORP COMMON 674599105 8292 362500 SH OTHER 215200 54200 93100
OGDEN CORP COMMON 676346109 1969 90000 SH OTHER 62500 5000 22500
OHIO EDISON CO COMMON 677347106 1697 75000 SH OTHER 46500 5000 23500
OLIN CORP COMMON 680665205 644 12500 SH SOLE 12500 0 0
ORYX ENERGY CO COMMON 68763F100 2063 150000 SH OTHER 105000 0 45000
OVERSEAS SHIPHOLDING COMMON 690368105 3787 182500 SH OTHER 109000 15000 58500
OWENS & MINOR INC NEW COMMON 690732102 4000 320000 SH OTHER 227000 33000 60000
OWENS CORNING FIBERGL COMMON 690734207 19636 532500 SH OTHER 336400 48500 147600
OWENS ILLINOIS COM NE COMMON 690768403 975 75000 SH OTHER 45000 0 30000
PACIFIC TELESIS GROUP COMMON 694890104 4414 165000 SH OTHER 69500 73000 22500
PACIFICORP COMMON 695114108 2438 130000 SH OTHER 79000 5000 46000
PANHANDLE EASTERN COR COMMON 698462108 31444 1290000 SH OTHER 866400 86400 337200
PEGASUS GOLD INC COMMON 70556K106 2633 260000 SH OTHER 192500 25000 42500
PEPSICO INC COMMON 713448108 368 8080 SH OTHER 0 3080 5000
PERRIGO CO COM COMMON 714290103 1936 175000 SH OTHER 130000 15000 30000
<PAGE> PAGE 7
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
PHILIPS N V NEW YORK COMMON 718337504 3099 72500 SH OTHER 47500 5000 20000
PINKERTONS INC NEW CO COMMON 723429106 3537 192500 SH OTHER 122500 10000 60000
PINNACLE WEST CAP COR COMMON 723484101 245 10000 SH SOLE 10000 0 0
PITTSTON CO MINERLS G COMMON 725701205 2938 297500 SH OTHER 202500 40000 55000
PLACER DOME INC COMMON 725906101 5813 222500 SH OTHER 155100 700 66700
POPE & TALBOT INC COMMON 732827100 203 12500 SH SOLE 12500 0 0
PRAXAIR INC COM COMMON 74005P104 3296 132500 SH OTHER 95100 6200 31200
PRICE / COSTCO INC CO COMMON 74143W102 24862 1530000 SH OTHER 925500 232300 372200
PROCTER & GAMBLE CO COMMON 742718109 2348 32664 SH OTHER 29500 3164 0
PROVIDENT LIFE & ACC COMMON 743889305 384 16500 SH OTHER 8800 200 7500
PUBLIC SVC CO N MEX COMMON 744499104 1995 140000 SH OTHER 104600 27500 7900
PUBLIC SVC ENTERPRISE COMMON 744573106 3330 120000 SH OTHER 45000 47000 28000
QUAKER ST CORP COMMON 747410108 339 22600 SH SOLE 22500 0 100
QUESTAR CORP COMMON 748356102 647 22500 SH SOLE 22500 0 0
RJR NABISCO HLDGS COR COMMON 74960K876 486 17500 SH OTHER 15000 0 2500
RJR NABISCO PFD C CONVERT 74960K884 19548 3258000 SH OTHER 1885000 703000 670000
RAYCHEM CORP COMMON 754603108 325 8500 SH OTHER 4800 3700 0
READING & BATES PFD 6 CONVERT 755281888 1425 50000 SH SOLE 25000 0 25000
REGENCY RLTY CORP COM COMMON 758939102 638 37500 SH OTHER 32500 5000 0
RELIANCE GROUP HLDGS COMMON 759464100 11541 1775600 SH OTHER 1002600 325500 447500
REPUBLIC ENGINRD STEE COMMON 760391102 1821 235000 SH OTHER 175000 0 60000
REPUBLIC NY CORP COMMON 760719104 420 7500 SH SOLE 7500 0 0
REYNOLDS METALS CO COMMON 761763101 4321 83500 SH OTHER 51500 14200 17800
RIVIANA FOODS INC DEL COMMON 769536103 333 25000 SH OTHER 15000 10000 0
ROCHE 0% 4/20/10 CONVERT 771196AC6 3578 9000000 SH OTHER 5750000 1750000 1500000
ROCKWELL INTERNATIONA COMMON 774347108 29660 648300 SH OTHER 418200 56700 173400
ROYAL DUTCH PETE CO N COMMON 780257705 609 5000 SH OTHER 0 5000 0
RYDER SYS INC COMMON 783549108 6566 275000 SH OTHER 181800 24200 69000
SCI SYS INC COMMON 783890106 2813 112500 SH OTHER 70000 12500 30000
SHL SYSTEMHOUSE INC COMMON 78424R104 19250 2750000 SH OTHER 1704200 320000 725800
SALOMON INC DEC COM E COMMON 79549B511 5244 131500 SH OTHER 83700 0 47800
SANTA FE ENERGY RES I COMMON 802012104 380 40000 SH OTHER 34000 0 6000
SANTA FE CONV PFD A CONVERT 802012401 241 25000 SH SOLE 25000 0 0
SANTA FE PAC GOLD COR COMMON 802176107 424 35000 SH OTHER 26000 0 9000
SARA LEE CORP COMMON 803111103 4845 170000 SH OTHER 107000 12500 50500
SCOTTS CO CL A COMMON 810186106 1750 80000 SH OTHER 57500 7500 15000
SEAGATE TECHNOLOGY COMMON 811804103 2271 57500 SH OTHER 36500 6000 15000
SEAGULL ENERGY CORP C COMMON 812007102 784 47500 SH OTHER 17500 25000 5000
SEARS ROEBUCK & CO COMMON 812387108 14280 240000 SH OTHER 143300 40300 56400
SEDGWICK GROUP ADR FOREIGN 815673207 1042 95000 SH OTHER 50000 0 45000
SHAWMUT NATL CORP COMMON 820484103 478 15000 SH SOLE 15000 0 0
SHERRITT GORDON LTD COMMON 824280101 1308 125000 SH OTHER 115000 0 10000
SIMON PROPERTY GROUP COMMON 828805101 377 15000 SH SOLE 10000 0 5000
SKYWEST INC COMMON 830879102 339 15000 SH OTHER 15000 0 0
SMITHKLINE BEECHAM PL COMMON 832378400 3959 87500 SH OTHER 65000 2500 20000
SMITHS FOOD & DRUG CT COMMON 832388102 257 13000 SH SOLE 13000 0 0
SOUTHERN CO COMMON 842587107 1678 75000 SH OTHER 49500 25000 500
SOUTHERN PACIFIC RAIL COMMON 843584103 2993 190000 SH OTHER 122500 17500 50000
SOUTHWEST AIRLS CO COMMON 844741108 365 15300 SH OTHER 14400 900 0
SPECIAL DEVICES INC COMMON 847409109 668 30000 SH OTHER 25000 5000 0
<PAGE> PAGE 8
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
SPRINT CORP COM COMMON 852061100 336 10000 SH OTHER 5000 5000 0
SPRINT EXCHANGE CONV. CONVERT 852061407 2172 62500 SH OTHER 45000 5000 12500
STONE CONTAINER CORP COMMON 861589109 2072 97500 SH OTHER 58500 10000 29000
STORAGE TECHNOLOGY CO COMMON 862111200 4002 162500 SH OTHER 97800 13500 51200
STORAGE TECHNOLOGY 7% CONVERT 862111309 4133 72500 SH OTHER 48300 3700 20500
STUDENT LN MARKETING COMMON 863871505 234 5000 SH SOLE 0 0 5000
SUMMIT PPTYS INC COM COMMON 866239106 10885 631000 SH OTHER 392600 109600 128800
SUN CO COMMON 866762107 684 25000 SH OTHER 10000 15000 0
SUPERVALU INC COMMON COMMON 868536103 874 30000 SH SOLE 30000 0 0
TBC CORP COM COMMON 872180104 1935 180000 SH OTHER 115000 35000 30000
TIG HOLDINGS COMMON 872469101 5555 241500 SH OTHER 143000 38500 60000
TJX COS INC NEW COMMON 872540109 2948 222500 SH OTHER 132600 41400 48500
TANDEM COMPUTERS INC COMMON 875370108 31918 1979400 SH OTHER 1239600 220300 519500
TELE COMMUNICATIONS I COMMON 87924V101 7383 315000 SH OTHER 194500 40500 80000
TELEDYNE INC COMMON 879335107 29523 1205000 SH OTHER 728600 169000 307400
TELEDYNE INC PFD SER PREFERR 879335602 378 25824 SH OTHER 15036 4405 6383
TELEFONOS DE MEXICO S FOREIGN 879403780 222 7500 SH OTHER 0 2500 5000
TEMPLE INLAND INC COMMON 879868107 2548 53500 SH OTHER 31000 17500 5000
TENET HEALTH CARE COMMON 88033G100 2156 150000 SH OTHER 75000 30000 45000
TENNECO INC COMMON 880370101 14375 312500 SH OTHER 187000 52500 73000
TERADYNE INC COMMON 880770102 2517 77000 SH OTHER 67000 0 10000
TEVA PHARMACEUTICAL I COMMON 881624209 2063 55000 SH OTHER 49300 700 5000
TEXACO INC COMMON 881694103 5047 76900 SH OTHER 41400 17500 18000
TEXAS INSTRUMENTS INC COMMON 882508104 1272 19000 SH SOLE 12000 0 7000
TEXAS UTILS CO COMMON 882848104 8422 245000 SH OTHER 101100 106000 37900
TIME WARNER INC COMMON 887315109 202 4900 SH OTHER 2500 2400 0
TRANSAMERICA CORP COMMON 893485102 15087 259000 SH OTHER 171600 26000 61400
TRANSCANADA PIPELINES COMMON 893526103 6688 500000 SH OTHER 327400 42300 130300
TRAVELERS INC COMMON 894190107 16738 382594 SH OTHER 237134 44560 100900
USX MARATHON GROUP CO COMMON 902905827 19059 965000 SH OTHER 582100 143200 239700
USA WASTE SVCS INC CO COMMON 902917103 698 45000 SH OTHER 45000 0 0
US F&G CORP COMMON 903290104 9872 607499 SH OTHER 389300 55800 162399
USX-DELHI GROUP COM COMMON 90336X103 230 20000 SH SOLE 20000 0 0
USX US STEEL GROUP CO COMMON 90337T101 7219 210000 SH OTHER 123300 31000 55700
UNICOM CORP COM COMMON 904911104 5059 190000 SH OTHER 56500 106000 27500
U S AIR GROUP INC COMMON 911905107 407 35000 SH OTHER 35000 0 0
U S AIR CONV PFD 8.75 CONVERT 911905305 5415 142500 SH OTHER 79500 37500 25500
U S INDUSTRIES INC COMMON 912080108 186 13625 SH OTHER 11625 0 2000
U S WEST INC COMMON 912889102 12488 300000 SH OTHER 173600 51700 74700
UNITED TECHNOLOGIES C COMMON 913017109 20703 265000 SH OTHER 196200 27800 41000
UNOCAL CORP COMMON 915289102 18509 670000 SH OTHER 394300 111200 164500
UNOCAL 7% CONV PREFER CONVERT 915289201 7085 130000 SH OTHER 98700 7500 23800
UPJOHN CO COMMON 915302103 1787 47500 SH OTHER 15000 25000 7500
USLIFE CORP COMMON 917318107 1811 67500 SH OTHER 41250 0 26250
VALERO ENERGY CORP COMMON 919138107 304 15000 SH OTHER 0 15000 0
WHX CORP COMMON 929248102 176 15000 SH OTHER 5000 10000 0
WMX TECHNOLOGIES INC COMMON 92929Q107 2625 92500 SH OTHER 2500 90000 0
WACKENHUT CORP COM SE COMMON 929794303 680 55550 SH OTHER 34750 625 20175
WAL MART STORES INC COMMON 931142103 13174 492500 SH OTHER 318200 61700 112600
WALDEN RESIDENTIAL PP COMMON 931210108 10658 580000 SH OTHER 350300 95500 134200
<PAGE> PAGE 9
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
WASHINGTON NATL CORP COMMON 939339107 6548 317500 SH OTHER 212500 700 104300
WEIRTON STL CORP COM COMMON 948774104 7525 1075000 SH OTHER 662500 126000 286500
WELLMAN INC COMMON 949702104 8555 312500 SH OTHER 192300 37700 82500
WENDYS INTERNATIONAL COMMON 950590109 2413 135000 SH OTHER 62500 32500 40000
WESTCOAST ENERGY COMMON 95751D102 2019 136900 SH OTHER 79900 34500 22500
WESTINGHOUSE ELEC COR COMMON 960402105 12431 850000 SH OTHER 485000 161000 204000
WESTINGHOUSE PFD CONVERT 960402709 44997 3025000 SH OTHER 1766200 522500 736300
WEYERHAEUSER CO COMMON 962166104 11074 235000 SH OTHER 155000 11500 68500
WHEELABRATOR TECH INC COMMON 962901302 269 17500 SH SOLE 15000 0 2500
WILLIAMS CO COMMON 969457100 2441 70000 SH OTHER 50000 0 20000
WILLIAMS SONOMA INC C COMMON 969904101 2585 117500 SH OTHER 82500 0 35000
WILLIS CORROON PLC AD COMMON 970624201 9660 805000 SH OTHER 560300 63100 181600
XEROX CORP COMMON 984121103 10435 89000 SH OTHER 59600 5300 24100
YPF SOCIEDAD ANONIMA FOREIGN 984245100 3775 200000 SH OTHER 122200 9500 68300
ZEIGLER COAL HLDG CO COMMON 989286109 1020 85000 SH SOLE 50000 0 35000
REPORT SUMMARY 365 DATA RECORDS 2063092 3 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
</TABLE>
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