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Previous: HERITAGE CASH TRUST, 24F-2NT, 1996-10-30 |
Next: GMO TRUST, 13F-E, 1996-10-30 |
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<PAGE> PAGE 1
SECURITIES AND EXCHANGE COMMISSION
FORM 13F-E
Report for the Calendar Year or Quarter Ended: 09/30/96
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
AMLI RESIDENTIAL PROP COMMON 001735109 2088 100000 SH OTHER 70000 5000 25000
AMR CORP COMMON 001765106 11585 145500 SH OTHER 72300 36700 36500
AT & T CORP. COMMON 001957109 7446 142501 SH OTHER 66801 37600 38100
ABITIBI PRICE IND COMMON 003680105 129 10000 SH OTHER 0 10000 0
ADVANCED MICRO DEVICE COMMON 007903107 863 58500 SH OTHER 35000 20000 3500
AETNA INC. COMMON 008117103 13090 186000 SH OTHER 95300 41300 49400
AIR TOUCH COMMUNICATI COMMON 00949T100 967 35000 SH SOLE 30000 0 5000
ALBEMARLE CORP COM COMMON 012653101 2997 175000 SH OTHER 84200 35800 55000
ALCAN ALUMINIUM LTD COMMON 013716105 2925 97500 SH OTHER 30000 52500 15000
ALEXANDER & ALEXANDER COMMON 014476105 16982 1021500 SH OTHER 558700 187600 275200
ALEXANDER & ALEXANDER CONVERT 014476501 12690 270000 SH OTHER 152700 38500 78800
ALLEGHENY TELEDYNE IN COMMON 017415100 34638 1530970 SH OTHER 790008 334262 406700
ALLERGAN INC COMMON 018490102 3908 102500 SH OTHER 63400 23800 15300
ALLMERICA FINL CORP C COMMON 019754100 1788 55000 SH OTHER 32500 17500 5000
ALLSTATE COMMON 020002101 18740 380499 SH OTHER 188303 86168 106028
ALPHARMA INC CL A COMMON 020813101 547 35000 SH OTHER 0 7500 27500
AMCOL INTL CORP COMMON 02341W103 6772 492500 SH OTHER 218500 123000 151000
AMERADA HESS CORP COMMON 023551104 7403 140000 SH OTHER 69800 31200 39000
AMERICA WEST AIRLS IN COMMON 023650203 2703 230000 SH OTHER 55000 70000 105000
AMERICAN BRANDS INC COMMON 024703100 3486 82500 SH OTHER 35000 27500 20000
AMERICAN EXPRESS COMMON 025816109 33069 715000 SH OTHER 357700 179200 178100
AMERICAN GREETINGS CO COMMON 026375105 12595 440000 SH OTHER 195200 119300 125500
AMERICAN SAFETY RAZOR COMMON 029362100 1425 120000 SH OTHER 60000 25000 35000
AMERICAN STORES COMMON 030096101 7600 190000 SH OTHER 93100 47800 49100
ANHEUSER BUSCH COS IN COMMON 035229103 3888 103000 SH OTHER 58000 35000 10000
ARCHER DANIELS MIDLAN COMMON 039483102 1480 76889 SH OTHER 51133 10256 15500
ARMCO INC COMMON 042170100 833 185000 SH OTHER 95000 50000 40000
ARMCO CONV. PFD. 7.25 CONVERT 042170407 2655 60000 SH OTHER 32800 6000 21200
ASARCO INC COMMON 043413103 1630 61500 SH OTHER 36500 20000 5000
ASHLAND 3.125% CONV P CONVERT 044204204 4999 79500 SH OTHER 63500 1000 15000
ASTRA AB COMMON 046298105 211 5000 SH SOLE 5000 0 0
ATLANTIC RICHFIELD CO COMMON 048825103 2231 17500 SH OTHER 7500 10000 0
ATLANTIC RICHFIELD PF CONVERT 048825137 881 37500 SH SOLE 37500 0 0
AU BON PAIN INC COMMON 050103100 717 100600 SH OTHER 55500 24100 21000
AVNET COMMON 053807103 20491 422500 SH OTHER 234100 75800 112600
BAT INDUST SPONSORED COMMON 055270508 596 44150 SH OTHER 36500 150 7500
BCE INC COMMON 05534B109 855 20000 SH SOLE 20000 0 0
BANK BOSTON COPR COMMON 060716107 2170 37500 SH OTHER 15000 5000 17500
BANKAMERICA CORP COMMON 066050105 4709 57337 SH OTHER 12337 25000 20000
BATTLE MTN GOLD CONV CONVERT 071593305 249 5000 SH SOLE 5000 0 0
BAXTER INTL INC COMMON 071813109 27784 597500 SH OTHER 328600 105700 163200
BAY NETWORK COMMON 072510100 273 10000 SH OTHER 0 10000 0
BAYER AG SPONS ADR FOREIGN 072730302 2294 62500 SH OTHER 30000 7500 25000
BELL ATLANTIC CORP COMMON 077853109 1946 32500 SH OTHER 24900 100 7500
BETHLEHEM STL CORP COMMON 087509105 625 62500 SH OTHER 22500 30000 10000
BEVERLY ENTERPRISES COMMON 087851101 8809 810000 SH OTHER 396000 217300 196700
BLACK & DECKER CORP COMMON 091797100 16393 395000 SH OTHER 226700 58800 109500
BLOCK H & R INC COMMON 093671105 31758 1067500 SH OTHER 508000 302100 257400
BOEING CO COMMON 097023105 463 4900 SH SOLE 4900 0 0
BOISE CASCADE PFD G CONVERT 097383863 2030 72500 SH OTHER 52500 20000 0
<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
BORDEN CHEM & PLASTIC COMMON 099541203 1794 199300 SH OTHER 135000 14300 50000
BOSTON EDISON CO COMMON 100599109 748 34000 SH OTHER 5000 29000 0
BRASCAN LTD CL A COMMON 105502405 370 20000 SH SOLE 15000 0 5000
FIRST CENTRAL FINANCI CONVERT 109228006 220 220000 SH SOLE 0 0 220000
BRISTOL MYERS SQUIBB COMMON 110122108 718 7450 SH OTHER 4950 2500 0
BROWNING FERRIS INDS COMMON 115885105 2900 116000 SH OTHER 26000 52500 37500
BURLINGTON INDS INC N COMMON 121693105 2296 232500 SH OTHER 130000 47500 55000
CIGNA CORP COMMON 125509109 7492 62500 SH OTHER 36700 10600 15200
CMS ENERGY CORP COMMON 125896100 2250 74700 SH OTHER 39700 22400 12600
CABOT OIL & GAS CORP COMMON 127097103 774 52500 SH OTHER 17500 10000 25000
CALIBER SYSTEMS INC. COMMON 129894101 645 40000 SH OTHER 30000 10000 0
CALPINE CP COMMON 131347106 3200 200000 SH OTHER 80000 60000 60000
CANADIAN PAC LTD NEW COMMON 135923100 27461 1187500 SH OTHER 554200 350300 283000
CANYON RES CORP COM COMMON 138869102 884 321477 SH OTHER 0 321477 0
CENTERIOR ENERGY CORP COMMON 151883105 3422 375000 SH OTHER 135000 100000 140000
CENTOCOR INC COMMON 152342101 1331 37500 SH OTHER 27500 10000 0
CHAMPION INTL CORP COMMON 158525105 4702 102500 SH OTHER 42000 32000 28500
CHARTWELL RE CORP COM COMMON 16139W109 6128 241500 SH OTHER 92800 113000 35700
CHASE MANHATTAN CORPO COMMON 16161A108 53383 666244 SH OTHER 335736 172704 157804
CHRYSLER CORP COMMON 171196108 988 34500 SH OTHER 15000 19500 0
CINCINNATI MILACRON I COMMON 172172108 14930 791000 SH OTHER 354500 272500 164000
CINERGY CORP COMMON 172474108 2084 67500 SH OTHER 30000 37500 0
CITICORP COMMON 173034109 70196 774581 SH OTHER 358227 243535 172819
COCA COLA ENTERPRISES COMMON 191219104 2376 52500 SH OTHER 27500 25000 0
COFLEXIP SPONSORED AD COMMON 192384105 4676 215000 SH OTHER 105500 61500 48000
COLTEC INDS INC COM COMMON 196879100 4313 267500 SH OTHER 100000 89000 78500
COMMUNITY PSYCHIATRIC COMMON 204015101 2509 275000 SH OTHER 133000 69000 73000
COMPUSERVE CORP DEL C COMMON 20482G109 574 42500 SH OTHER 15000 10000 17500
COMSAT CORP COMMON 20564D107 1075 47500 SH OTHER 0 37500 10000
CONE MLS CORP N C COM COMMON 206814105 2323 295000 SH OTHER 127500 100000 67500
CONSOLIDATED EDISON N COMMON 209111103 694 25000 SH OTHER 0 25000 0
CONSOLIDATED FREIGHTW COMMON 209237106 551 22500 SH OTHER 20000 0 2500
COORS ADOLPH COMPANY COMMON 217016104 7623 347500 SH OTHER 170800 90100 86600
CORDIANT PLC SPONSORE COMMON 218514107 2358 460000 SH OTHER 280000 65000 115000
CORNING INC COMMON 219350105 26130 670000 SH OTHER 312300 197300 160400
COTT CORP QUE COM COMMON 22163N106 189 25000 SH SOLE 0 0 25000
COX COMMUNICATIONS IN COMMON 224044107 230 12500 SH OTHER 7500 5000 0
CROWN AMERICAN RLTY T COMMON 228186102 4410 560000 SH OTHER 239000 137500 183500
CUMMINS ENGINE INC COMMON 231021106 5119 130000 SH OTHER 74600 17700 37700
CYPRUS AMAX MINERALS COMMON 232809103 1666 77500 SH OTHER 25000 42500 10000
DPL INC COMMON 233293109 2221 95000 SH OTHER 50000 20000 25000
DSC COMMUNICATION COR COMMON 233311109 1394 55500 SH OTHER 33000 16500 6000
DTE ENERGY CO COM COMMON 233331107 840 30000 SH SOLE 25000 0 5000
DARDEN RESTAURANTS, I COMMON 237194105 4830 560000 SH OTHER 230400 162200 167400
DATA GEN CORP COMMON 237688106 5390 385000 SH OTHER 225000 60000 100000
DELTA AIRLINES INC COMMON 247361108 5425 75342 SH OTHER 40941 8401 26000
DEVON ENERGY CORP COM COMMON 251799102 638 25000 SH OTHER 0 5000 20000
DIGITAL EQUIPMENT COMMON 253849103 32116 901500 SH OTHER 454700 222600 224200
DISNEY WALT PRODTNS COMMON 254687106 838 13250 SH OTHER 4250 9000 0
DOW CHEMICAL COMMON 260543103 4414 55000 SH OTHER 24300 18200 12500
<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
DRESSER INDS INC COMMON 261597108 2190 73600 SH OTHER 40500 20000 13100
DU PONT E I DE NEMOUR COMMON 263534109 6521 74000 SH OTHER 46400 12600 15000
DUN & BRADSTREET INC COMMON 264830100 3071 51500 SH OTHER 23700 12800 15000
EASTERN UTILS ASSOC COMMON 277173100 1298 77500 SH OTHER 16500 57000 4000
EASTMAN KODAK COMMON 277461109 71553 911500 SH OTHER 479500 199600 232400
ECHO BAY MINES COM COMMON 278751102 2046 232125 SH OTHER 135544 500 96081
EDISON INTERNATIONAL COMMON 281020107 2324 130000 SH OTHER 45000 72500 12500
ELF AQUITAINE SPONSOR COMMON 286269105 1280 32500 SH OTHER 17000 6000 9500
ENGELHARD CORP COMMON 292845104 575 25000 SH OTHER 10000 12900 2100
ENSERCH EXPL INC COMMON 29356V100 1369 150000 SH OTHER 37500 62500 50000
ENRON OIL & GAS CO CO COMMON 293562104 249 10000 SH SOLE 5000 0 5000
ENSERCH CORP COMMON 293567103 11847 567500 SH OTHER 279000 167400 121100
ENTERGY CORP NEW COM COMMON 29364G103 4320 160000 SH OTHER 75000 65000 20000
ETHYL CORP COMMON 297659104 180 20000 SH OTHER 0 15000 5000
EVANS WITHYCOMBE RESI COMMON 299212100 2844 130000 SH OTHER 66800 15700 47500
EXXON CORP COMMON 302290101 1069 12845 SH OTHER 0 12845 0
FMC CORP NEW COMMON 302491303 12978 191200 SH OTHER 98600 39400 53200
FEDERAL MOGUL CORP COMMON 313549107 739 35000 SH OTHER 5000 30000 0
FEDERATED DEPARTMENT COMMON 31410H101 12732 380050 SH OTHER 221250 58700 100100
FIRST CHICAGO NBD COR COMMON 31945A100 12782 282483 SH OTHER 153240 45100 84143
FIRST COLONY CORP COM COMMON 319741104 976 27500 SH OTHER 15000 12500 0
FISHER SCIENTIFIC INT COMMON 338032105 4744 115000 SH OTHER 40000 42500 32500
FLEET FINL GROUP INC COMMON 338915101 223 5000 SH SOLE 0 0 5000
FLEETWOOD ENTERPRISES COMMON 339099103 769 25000 SH OTHER 0 15000 10000
FORD MOTOR COMMON 345370100 1922 61500 SH OTHER 15000 46500 0
FORD MOTOR CO DEPOSIT CONVERT 345370209 920 9000 SH OTHER 4000 0 5000
FOREST OIL CORP COM N COMMON 346091606 1094 85000 SH OTHER 40000 20000 25000
FREEPORT MCMORAN COPP CONVERT 35671D600 9839 294800 SH OTHER 157300 70200 67300
FUJI PHOTO ADR NEW COMMON 359586302 306 10000 SH OTHER 0 10000 0
GPU INC COM COMMON 36225X100 689 22400 SH OTHER 4900 17500 0
GTE CORP COMMON 362320103 49761 1292500 SH OTHER 634300 332300 325900
ARTHUR J GALLAGHER & COMMON 363576109 2214 64400 SH OTHER 39200 10200 15000
GENCORP INC COMMON 368682100 883 62500 SH OTHER 20000 25000 17500
GENERAL ELECTRIC COMMON 369604103 25025 275000 SH OTHER 151500 54500 69000
GENERAL MTRS CORP COMMON 370442105 14040 292500 SH OTHER 135000 88600 68900
GENERAL RE CORP COMMON 370563108 354 2500 SH OTHER 0 2500 0
GEORGIA GULF CORP COM COMMON 373200203 3660 122500 SH OTHER 65200 18500 38800
GERBER SCIENTIFIC INS COMMON 373730100 242 17000 SH OTHER 15000 2000 0
GIDDINGS & LEWIS INC COMMON 375048105 3622 305000 SH OTHER 127500 100000 77500
GLAXO PLC SPONSORED A COMMON 37733W105 4389 141000 SH OTHER 83100 18400 39500
GREAT WESTN FINL CORP COMMON 391442100 3445 130000 SH OTHER 53700 55800 20500
GRIFFON CORP COM COMMON 398433102 4631 475000 SH OTHER 275000 50000 150000
HAEMONETICS CORP COM COMMON 405024100 1106 53600 SH OTHER 25000 5700 22900
HALLIBURTON CO COMMON 406216101 1291 25000 SH OTHER 5000 5000 15000
HANSON TR PLC SPONSOR COMMON 411352305 37682 3045000 SH OTHER 1359300 930100 755600
HECLA MNG CO COMMON 422704106 253 37500 SH OTHER 12500 25000 0
HERCULES INC COMMON 427056106 312 5700 SH OTHER 3700 2000 0
HILB ROGAL & HAMILTON COMMON 431294107 596 45000 SH SOLE 45000 0 0
HOME HEALTH CORP AMER COMMON 436936108 120 10000 SH OTHER 0 10000 0
HOST MARRIOTT CORP COMMON 441078102 218 15000 SH SOLE 15000 0 0
<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
HUNT J B TRANS SVCS I COMMON 445658107 1905 120000 SH OTHER 55000 25000 40000
IMC GLOBAL INC COMMON 449669100 1858 47500 SH SOLE 27500 0 20000
ITT HARTFORD GROUP IN COMMON 45068H106 590 10000 SH OTHER 2500 5000 2500
ITT INDS INC COM WHEN COMMON 450911102 362 15000 SH OTHER 0 15000 0
ILLANOVA CORP COM COMMON 452317100 506 19100 SH OTHER 0 19100 0
IMMULOGIC PHARMACEUTI COMMON 45252R100 1381 170000 SH OTHER 45000 57500 67500
IMPERIAL OIL LTD COM COMMON 453038408 1913 45000 SH OTHER 27500 7500 10000
INCO LTD COMMON 453258402 1307 42500 SH OTHER 2500 40000 0
INFORMATION RES INC COMMON 456905108 5736 437000 SH OTHER 173500 140500 123000
INTEGRATED DEVICE TEC COMMON 458118106 447 45000 SH OTHER 20000 25000 0
INTEL CORP COMMON 458140100 17226 180500 SH OTHER 99900 50600 30000
INTERGRAPH CORP COMMON 458683109 17765 1615000 SH OTHER 736800 498700 379500
INTERMET CORP COMMON 45881K104 1371 127500 SH OTHER 47500 35000 45000
INTERNATIONAL BUSINES COMMON 459200101 50858 408500 SH OTHER 201500 97800 109200
INTERNATIONAL PAPER C COMMON 460146103 2656 62500 SH OTHER 27500 35000 0
INTL TECHNOLOGY CORP COMMON 460465107 216 75000 SH OTHER 25000 50000 0
INTERNATIONAL TECH 1. CONVERT 460465305 1450 80000 SH SOLE 67500 0 12500
IRVINE APT CMNTYS INC COMMON 463606103 885 40000 SH SOLE 35000 0 5000
IVAX CORP COMMON 465823102 1138 70000 SH OTHER 25000 20000 25000
JP RLTY INC COM COMMON 46624A106 24141 1085000 SH OTHER 571500 233400 280100
JAMES RIVER CORP COMMON 470349101 8495 307500 SH OTHER 160700 61600 85200
JR CORP SERIES P 9% CONVERT 470349887 15906 617700 SH OTHER 287000 196700 134000
JEFFERSON SMURFIT COR COMMON 475087102 445 37500 SH OTHER 30000 7500 0
JOHN NUVEEN CO CL A COMMON 478035108 419 15500 SH OTHER 12000 2500 1000
JOHNSON & JOHNSON COMMON 478160104 6276 122450 SH OTHER 50850 46600 25000
JOSTENS INC COMMON 481088102 626 30000 SH OTHER 8500 12000 9500
K MART CORP COMMON 482584109 1384 135000 SH OTHER 107500 2500 25000
K2 INC COM COMMON 482732104 523 20000 SH OTHER 0 20000 0
KELLWOOD COMMON 488044108 2743 165000 SH OTHER 95000 55000 15000
KERR-MCGEE CORP COMMON 492386107 1065 17500 SH SOLE 15000 0 2500
LASMO ADR FOREIGN 501730204 8353 825000 SH OTHER 460000 125000 240000
LTV CORP NEW COM COMMON 501921100 581 50000 SH OTHER 25000 10000 15000
LABORATORY CORP AMER COMMON 50540R102 1327 342500 SH OTHER 180000 102500 60000
LAFARGE CORP COMMON 505862102 652 35000 SH OTHER 15000 20000 0
LIBERTY CORP S C COMMON 530370105 1844 52500 SH OTHER 22500 10000 20000
LIFE RE CORP COM COMMON 532160108 3780 105000 SH OTHER 45000 25000 35000
LILLY ELI & CO COMMON 532457108 16125 250000 SH OTHER 139900 50100 60000
LIMITED STORES INC COMMON 532716107 669 35000 SH OTHER 5000 30000 0
LINCOLN NATL CORP IND COMMON 534187109 658 15000 SH OTHER 5000 10000 0
LOEWS CORP COMMON 540424108 2012 26000 SH OTHER 7500 12500 6000
LUBRIZOL CORP COMMON 549271104 3306 115000 SH OTHER 60800 25100 29100
MCN CORP COMMON 55267J100 648 24100 SH OTHER 9100 5000 10000
MCN CORP PFD IDE SECS CONVERT 55267J209 420 15000 SH SOLE 15000 0 0
MCI COMMUNICATIONS CO COMMON 552673105 18322 715000 SH OTHER 337800 193000 184200
MFS COMMUNICATIONS IN COMMON 55272T101 1309 30000 SH SOLE 0 0 30000
MAGELLAN HEALTH SERVI COMMON 559079108 934 45000 SH OTHER 24500 1000 19500
MANPOWER INC COM COMMON 56418H100 632 19000 SH OTHER 7500 11500 0
MARSH MCLENNAN COMMON 571748102 680 7000 SH OTHER 2500 4500 0
MASCOTECH INC COM COMMON 574670105 33666 2362500 SH OTHER 1138400 672700 551400
MASCOTECH PFD DIV ENH CONVERT 574670303 1459 102400 SH OTHER 60800 31100 10500
<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
MAY DEPT STORES CO COMMON 577778103 243 5000 SH SOLE 5000 0 0
MAYTAG CO COMMON 578592107 9604 492500 SH OTHER 230500 142500 119500
MCCLATCHY NEWSPAPERS COMMON 579489105 700 25000 SH OTHER 5000 15000 5000
MCDERMOTT INTERNATION COMMON 580037109 3045 140000 SH OTHER 53000 41500 45500
MEDPARTNERS INC NEW C COMMON 58503X107 4852 213265 SH OTHER 111400 61615 40250
MELVILLE CORP COMMON 585745102 993 22500 SH OTHER 7500 15000 0
MERCK & CO COMMON 589331107 725 10300 SH OTHER 0 5300 5000
METHANEX CORP COM COMMON 59151K108 354 45000 SH SOLE 25000 0 20000
MICROSOFT CORP COMMON 594918104 330 2500 SH OTHER 0 2500 0
MICRON TECHNOLOGY INC COMMON 595112103 839 27500 SH OTHER 7500 15000 5000
MINNESOTA MNG & MFG C COMMON 604059105 419 6000 SH OTHER 2500 3500 0
MITCHELL ENERGY & DEV COMMON 606592202 1982 105000 SH OTHER 55000 35000 15000
MITCHELL ENERGY & DEV COMMON 606592301 13898 708200 SH OTHER 337100 202900 168200
MOBIL CORP COMMON 607059102 9214 79600 SH OTHER 37700 19700 22200
MOORE LTD COMMON 615785102 781 42500 SH OTHER 7500 20000 15000
MORNINGSTAR GROUP INC COMMON 617698105 4255 370000 SH OTHER 225000 10000 135000
MOTOROLA INC COMMON 620076109 1159 22500 SH OTHER 10000 5000 7500
NATIONAL RE HLDGS COR COMMON 637340209 1058 20000 SH SOLE 10000 0 10000
NATL SEMICONDUCTOR COMMON 637640103 1258 62500 SH OTHER 20000 37500 5000
NATIONAL STL CORP COMMON 637844309 834 75000 SH SOLE 45000 0 30000
NATIONSBANK CORP COM COMMON 638585109 6255 72000 SH OTHER 36000 14500 21500
NAVISTAR INTL CORP PF CONVERT 638901405 18278 326400 SH OTHER 174150 73400 78850
NAVISTAR INTL CORP CO COMMON 63934E108 2550 300000 SH OTHER 145000 55000 100000
NESTLES ADR FOREIGN 641069406 30232 546000 SH OTHER 315700 100800 129500
NEW YORK TIMES CO CLA COMMON 650111107 611 18100 SH SOLE 10600 0 7500
NEWMONT GOLD CO COM COMMON 651637100 355 7500 SH SOLE 0 0 7500
NEWMONT MNG CORP COMMON 651639106 354 7500 SH OTHER 5000 2500 0
NIAGARA MOHAWK PWR CO COMMON 653522102 14280 1785000 SH OTHER 824200 544100 416700
NOBLE AFFILIATES COMMON 654894104 409 9692 SH OTHER 9592 100 0
NORAM ENERGY CORP 6.0 CONVERT 655419AC3 2069 2500000 SH SOLE 2450000 0 50000
NORAM ENERGY CORP COM COMMON 655419109 15991 1075000 SH OTHER 567400 200100 307500
NORTHEAST UTILS COMMON 664397106 2197 177500 SH OTHER 65000 57500 55000
NORTH WESTERN STEEL A COMMON 668367204 1375 250000 SH OTHER 125000 75000 50000
NOVELL INC COMMON 670006105 413 37500 SH OTHER 25000 12500 0
NYNEX CORP COMMON 670768100 522 12000 SH SOLE 2000 0 10000
OHM CORPORATION 8.000 CONVERT 670839AA7 456 500000 SH SOLE 0 0 500000
OHM CORP COM COMMON 670839109 439 55800 SH OTHER 0 50000 5800
OCCIDENTAL PETE CORP COMMON 674599105 9350 400000 SH OTHER 189900 106000 104100
OFFICE DEPOT INC COM COMMON 676220106 1169 50000 SH OTHER 0 25000 25000
OGDEN CORP COMMON 676346109 10717 532500 SH OTHER 262500 171000 99000
OHIO EDISON CO COMMON 677347106 4602 237500 SH OTHER 89200 85400 62900
ORYX ENERGY CO COMMON 68763F100 1109 62500 SH OTHER 0 50000 12500
OVERSEAS SHIPHOLDING COMMON 690368105 2549 154500 SH OTHER 72000 35000 47500
OWENS CORNING COMMON 69073F103 30477 826500 SH OTHER 387300 228500 210700
OWENS & MINOR INC NEW COMMON 690732102 5273 555000 SH OTHER 216800 144700 193500
OWENS ILLINOIS COM NE COMMON 690768403 175 10000 SH SOLE 10000 0 0
PNC FINANCIAL CORP COMMON 693475105 5090 152500 SH OTHER 51500 53500 47500
PACIFIC GAS & ELEC CO COMMON 694308107 511 23500 SH OTHER 2500 21000 0
PACIFIC TELESIS GROUP COMMON 694890104 3951 117500 SH OTHER 59500 38000 20000
PACIFICORP COMMON 695114108 3609 175000 SH OTHER 92000 40500 42500
<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
PANENERGY CORP COM COMMON 697926103 37049 1070000 SH OTHER 582900 213400 273700
PEGASUS GOLD INC COMMON 70556K106 1691 165000 SH OTHER 32500 112500 20000
PEPSICO INC COMMON 713448108 1191 42160 SH OTHER 4500 32660 5000
PERRIGO CO COM COMMON 714290103 1629 165000 SH OTHER 87500 47500 30000
PHARMACIA & UPJOHN, I COMMON 716941109 1134 27500 SH OTHER 6500 21000 0
PFIZER INC COMMON 717081103 593 7500 SH OTHER 0 7500 0
PHILIPS N V NEW YORK COMMON 718337504 1435 40000 SH OTHER 17500 12500 10000
PINKERTONS INC NEW CO COMMON 723429106 4667 196500 SH OTHER 109000 30000 57500
PITTSTON CO MINERLS G COMMON 725701205 3483 246600 SH OTHER 157500 35100 54000
PLACER DOME INC COMMON 725906101 3603 152500 SH OTHER 94100 25400 33000
PRAXAIR INC COM COMMON 74005P104 215 5000 SH OTHER 5000 0 0
PRICE / COSTCO INC CO COMMON 74143W102 23729 1157500 SH OTHER 582000 269600 305900
PROCTER & GAMBLE CO COMMON 742718109 2112 21664 SH OTHER 21500 164 0
PROVIDENT COS INC COM COMMON 743862104 293 7800 SH OTHER 2600 200 5000
PUBLIC SVC ENTERPRISE COMMON 744573106 3424 128000 SH OTHER 45000 55000 28000
QUAKER ST CORP COMMON 747410108 1140 66100 SH OTHER 40000 23600 2500
QUESTAR CORP COMMON 748356102 1344 38000 SH OTHER 20000 18000 0
RJR NABISCO PFD C CONVERT 74960K884 18141 3375000 SH OTHER 1641500 1053500 680000
RALCORP HOLDINGS, INC COMMON 751025107 519 25000 SH OTHER 2500 17500 5000
READING & BATES CORP COMMON 755281805 590 21742 SH SOLE 21742 0 0
REGENCY RLTY CORP COM COMMON 758939102 839 37500 SH OTHER 32500 5000 0
RELIANCE GROUP HLDGS COMMON 759464100 20305 2620000 SH OTHER 1252900 724100 643000
REPUBLIC NY CORP COMMON 760719104 1141 16500 SH OTHER 0 14000 2500
REYNOLDS METALS CO COMMON 761763101 3707 72500 SH OTHER 22500 35000 15000
RIVIANA FOODS INC DEL COMMON 769536103 1056 66000 SH OTHER 41000 20000 5000
ROCHE 0% 4/20/10 CONVERT 771196AC6 3676 8500000 SH OTHER 5750000 1750000 1,000000
ROCKWELL INTERNATIONA COMMON 774347108 29315 520000 SH OTHER 277400 99700 142900
ROYAL DUTCH PETE CO N COMMON 780257705 390 2500 SH OTHER 0 2500 0
RYDER SYS INC COMMON 783549108 5777 195000 SH OTHER 107000 38800 49200
SBC COMMUNICATIONS, I COMMON 78387G103 7026 146000 SH OTHER 26000 89200 30800
SANTA FE ENERGY RES I COMMON 802012104 6555 460000 SH OTHER 237500 117500 105000
SANTA FE CONV PFD A CONVERT 802012401 2813 225000 SH OTHER 140000 70000 15000
SANTA FE PAC GOLD COR COMMON 802176107 388 31000 SH OTHER 23500 0 7500
SARA LEE CORP COMMON 803111103 7954 222500 SH OTHER 97500 66500 58500
SCOTTS CO CL A COMMON 810186106 2166 112500 SH OTHER 55000 32500 25000
SEAGATE TECHNOLOGY COMMON 811804103 838 15000 SH OTHER 5000 5000 5000
SEAGRAM COMMON 811850106 281 7500 SH OTHER 0 7500 0
SEARS ROEBUCK & CO COMMON 812387108 2349 52500 SH OTHER 29900 100 22500
SEDGWICK GROUP ADR FOREIGN 815673207 5137 550000 SH OTHER 318500 96500 135000
SILICON GRAPHICS INC COMMON 827056102 4345 197500 SH OTHER 92500 70000 35000
SIMON DEBARTOLO GROUP COMMON 828781104 1250 49000 SH SOLE 44000 0 5000
SMITHKLINE BEECHAM PL COMMON 832378301 11505 189000 SH OTHER 83000 61000 45000
SOUTHERN CO COMMON 842587107 1519 67500 SH OTHER 44500 22500 500
SOUTHWEST AIRLS CO COMMON 844741108 435 19000 SH OTHER 18900 100 0
SPRINT CORP COM COMMON 852061100 583 15000 SH OTHER 5000 10000 0
SPRINT EXCHANGE CONV. CONVERT 852061407 1925 55000 SH SOLE 45000 0 10000
STONE CONTAINER CORP COMMON 861589109 1511 97500 SH OTHER 55000 15000 27500
STORAGE TECHNOLOGY CO COMMON 862111200 87554 2288999 SH OTHER 1073800 633199 582000
SUMMIT PPTYS INC COM COMMON 866239106 18269 925000 SH OTHER 412000 309000 204000
SUNBEAM CORP COM COMMON 867071102 15525 675000 SH OTHER 50000 625000 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
SUPERVALU INC COMMON COMMON 868536103 1067 38800 SH OTHER 22500 15500 800
SYMANTEC CORP COM COMMON 871503108 218 20000 SH OTHER 5000 15000 0
TBC CORP COM COMMON 872180104 159 25000 SH OTHER 25000 0 0
TIG HOLDINGS COMMON 872469101 6000 200000 SH OTHER 101500 53500 45000
TANDEM COMPUTERS INC COMMON 875370108 29211 2655500 SH OTHER 1291900 717100 646500
TELE COMMUNICATIONS I COMMON 87924V101 12673 848410 SH OTHER 361200 283010 204200
TELE COMMUNICATIONS I COMMON 87924V507 859 30000 SH OTHER 10000 15000 5000
TEMPLE INLAND INC COMMON 879868107 1319 25000 SH OTHER 15000 10000 0
TENET HEALTH CARE COMMON 88033G100 1279 57500 SH OTHER 20000 7500 30000
TENNECO INC COMMON 880370101 10652 212500 SH OTHER 99700 66500 46300
TERADYNE INC COMMON 880770102 466 28000 SH OTHER 23000 0 5000
TEXACO INC COMMON 881694103 5060 55000 SH OTHER 22500 20000 12500
TEXAS INSTRUMENTS INC COMMON 882508104 634 11500 SH SOLE 6500 0 5000
TEXAS UTILS CO COMMON 882848104 5366 135000 SH OTHER 39500 68000 27500
TIME WARNER FING TR P COMMON 88731L203 2317 62200 SH OTHER 25000 27200 10000
TITAN WHEEL INTL INC COMMON 888328101 1163 77500 SH SOLE 35000 0 42500
TOTAL S A SPONSORED A COMMON 89151E109 3423 87500 SH OTHER 32500 35000 20000
TOYS R US COMMON 892335100 2257 77500 SH OTHER 37500 35000 5000
TRANSAMERICA CORP COMMON 893485102 12473 178500 SH OTHER 101500 28700 48300
TRANSCANADA PIPELINES COMMON 893526103 8466 525000 SH OTHER 287600 107100 130300
TRAVELERS INC COMMON 894190107 23607 480541 SH OTHER 252351 107290 120900
UAL CORP COM COMMON 902549500 662 14000 SH OTHER 0 14000 0
USX MARATHON GROUP CO COMMON 902905827 43250 2000000 SH OTHER 893500 625800 480700
US F&G CORP COMMON 903290104 18195 983500 SH OTHER 449600 276400 257500
USG CORP COMMON 903293405 1481 50000 SH OTHER 50000 0 0
USX US STEEL GROUP CO COMMON 90337T101 4688 164500 SH OTHER 79500 35000 50000
UNILEVER N V COMMON 904784501 2758 17500 SH OTHER 5500 12000 0
UNICOM CORP COM COMMON 904911104 30150 1200000 SH OTHER 537300 374300 288400
UNION CARBIDE CORP COMMON 905581104 205 4500 SH SOLE 4500 0 0
UNION PAC CORP COMMON 907818108 552 7534 SH OTHER 0 4901 2633
UNION PAC RES GROUP I COMMON 907834105 840 30000 SH OTHER 20000 5000 5000
UNION TEX PETE HLDGS COMMON 908640105 15462 715000 SH OTHER 291500 269000 154500
U S AIR GROUP INC COMMON 911905107 289 17500 SH SOLE 17500 0 0
U S AIR CONV PFD 8.75 CONVERT 911905305 6724 132500 SH OTHER 70000 35200 27300
U S WEST INC COMMON 912889102 12622 422500 SH OTHER 153700 194400 74400
U S WEST INC COM-MEDI COMMON 912889201 5020 297500 SH OTHER 148200 75400 73900
UNITED TECHNOLOGIES C COMMON 913017109 26783 222500 SH OTHER 137100 53500 31900
UNOCAL CORP 6.25% TRU CONVERT 91528T207 10722 200876 SH OTHER 104233 63945 32698
UNOCAL CORP COMMON 915289102 27450 762500 SH OTHER 358800 224600 179100
USLIFE CORP COMMON 917318107 570 19000 SH OTHER 9000 5000 5000
VLSI TECH 8.250% 10/0 CONVERT 918270AB5 9188 100000 SH OTHER 49500 18500 32000
VALERO ENERGY CORP COMMON 919138107 550 25000 SH OTHER 0 25000 0
VIRIDIAN INC COM COMMON 927919100 2502 225000 SH OTHER 100000 75000 50000
WMX TECHNOLOGIES INC COMMON 92929Q107 50299 1530000 SH OTHER 715400 437600 377000
WAL MART STORES INC COMMON 931142103 20968 795000 SH OTHER 325600 298300 171100
WALDEN RESIDENTIAL PP COMMON 931210108 13045 617500 SH OTHER 329300 141500 146700
WASHINGTON NATL CORP COMMON 939339107 6641 230000 SH OTHER 121300 35700 73000
WASTE MGMT INTL PLC S COMMON 940906100 653 72500 SH OTHER 32500 20000 20000
WEIRTON STL CORP COM COMMON 948774104 356 150000 SH OTHER 0 100000 50000
WELLMAN INC COMMON 949702104 5119 292500 SH OTHER 146000 61500 85000
<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
WELLS FARGO & CO COMMON 949740104 19615 75444 SH OTHER 42896 16050 16498
WENDYS INTERNATIONAL COMMON 950590109 1122 52500 SH OTHER 25000 15000 12500
WESTAIM CORP COM COMMON 956909105 226 55800 SH SOLE 41600 0 14200
WESTCOAST ENERGY COMMON 95751D102 10800 675000 SH OTHER 325900 191000 158100
WESTINGHOUSE ELEC COR COMMON 960402105 3446 185000 SH OTHER 70000 50000 65000
WESTINGHOUSE PFD CONVERT 960402709 49953 2875000 SH OTHER 1368700 827500 678800
WEYERHAEUSER CO COMMON 962166104 10194 221000 SH OTHER 112800 47000 61200
WHEELABRATOR TECH INC COMMON 962901302 14449 947500 SH OTHER 308000 421200 218300
WILLBROS GROUP INC COMMON 969199108 275 25000 SH SOLE 25000 0 0
WILLIAMS SONOMA INC C COMMON 969904101 1561 55000 SH OTHER 30000 0 25000
WILLIS CORROON PLC AD COMMON 970624201 7727 782500 SH OTHER 450200 163700 168600
XEROX CORP COMMON 984121103 11583 216000 SH OTHER 128500 35000 52500
YPF SOCIEDAD ANONIMA FOREIGN 984245100 2974 130000 SH OTHER 72000 25500 32500
ZURICH REINS CNTRE HL COMMON 989822101 3727 118800 SH OTHER 45300 27500 46000
REPORT SUMMARY 364 DATA RECORDS 2447599 3 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
</TABLE>
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