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OMB Number 3235-0006
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
INFORMATION REQUIRED OF INSTITUTIONAL INVESTMENT MANAGERS PURSUANT TO SECTION
13(f) OF THE SECURITIES EXCHANGE ACT OF 1934 AND RULES THEREUNDER.
Report for the Calendar Year or Quarter Ended March 31, 1999.
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(Please read instructions before preparing form.)
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If amended report check here: [ ]
GRANTHAM, MAYO, VAN OTTERLOO & CO.
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Name of Institutional Investment Manager
40 ROWES WHARF BOSTON MA 02110
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Business Address (Street) (City) (State) (Zip)
FORREST BERKLEY (617)346-7578 PARTNER
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Name, Phone No., and Title of Person Duly Authorized to Submit this Report.
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ATTENTION
INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACTS
CONSTITUTE FEDERAL CRIMINAL VIOLATIONS.
SEE 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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The institutional investment manager submitting this Form and its
attachments and the person by whom it is signed represent hereby that all
information contained therein is true, correct and complete. It is understood
that all required items, statements and schedules are considered 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.
Pursuant to the requirements of Securities Exchange Act of 1934, the
undersigned institutional investment manager has caused this report to be
signed on its behalf in the City of Boston and State of Massachusetts
on the 11th day of May, 1999.
GRANTHAM, MAYO, VAN OTTERLOO & CO.
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(Name of Institutional Investment Manager)
/s/ Forrest Berkley
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(Manual Signature of Person Duly Authorized
to Submit This Report)
Name and 13F file numbers of ALL Institutional Investment Managers with respect
to which this schedule is filled (other than the one filing this report): (List
in alphabetical order).
13F File Numbers will be assigned to Institutional Investment Managers after
they file their first report.
Name: 13F File No.:
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1. STRATEGIC INVESTMENT MANAGEMENT INTERNATIONAL 028-02495
2.
3.
4.
5.
<PAGE> 2
<TABLE>
<CAPTION>
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- ($1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARES NONE
<S> <C> <C> <C> <C> <C> <C> <C>
D ABITIBI-CONSOLIDATED COMMON 003924107 5993 680000 SH OTHER 575000 0 105000
D ACUSON CORP COMMON 005113105 11427 765000 SH OTHER 562500 0 202500
D ADVANCED MICRO DEVICE COMMON 007903107 155 10000 SH SOLE 10000 0 0
D AETNA INC PFD CL C 6. CONVERT 008117202 1505 19900 SH SOLE 15900 0 4000
D AETNA INC. COMMON 008117103 3528 42500 SH OTHER 32300 0 10200
D AIRBORNE FREIGHT COMMON 009266107 1163 37500 SH SOLE 32500 0 5000
D ALBEMARLE CORP COM COMMON 012653101 890 42500 SH SOLE 37500 0 5000
D ALCAN ALUMINIUM LTD COMMON 013716105 1275 49400 SH SOLE 49400 0 0
D ALLEGHENY TELEDYNE IN COMMON 017415100 3410 180073 SH OTHER 157073 0 23000
D ALLSTATE COMMON 020002101 14826 400039 SH OTHER 332039 0 68000
D AMCOL INTL CORP COMMON 02341W103 4900 490000 SH OTHER 406000 0 84000
D AMD CONVERTIBLES 6% CONVERT 007903AC1 8697 121000 SH OTHER 93000 0 28000
D AMERADA HESS CORP COMMON 023551104 9285 182500 SH OTHER 145400 0 37100
D AMERICAN EXPRESS COMMON 025816109 27554 234000 SH OTHER 198300 0 35700
D AMERICAN GREETINGS CO COMMON 026375105 23599 930000 SH OTHER 752700 0 177300
D AMERICAN INTL GROUP COMMON 026874107 724 6005 SH SOLE 6005 0 0
D AMLI RESIDENTIAL PROP COMMON 001735109 722 35000 SH SOLE 35000 0 0
D AMR CORP COMMON 001765106 7320 125000 SH OTHER 105200 0 19800
D ANHEUSER BUSCH COS IN COMMON 035229103 37111 487500 SH OTHER 411700 0 75800
D ARMCO CONV. PFD. 7.25 CONVERT 042170407 2090 47500 SH SOLE 32500 0 15000
D AT & T CORP. COMMON 001957109 2016 37891 SH OTHER 37311 0 580
D ATLANTIC RICHFIELD CO COMMON 048825103 1280 17500 SH SOLE 17500 0 0
D AUTOMATIC DATA PROCES COMMON 053015103 207 5000 SH SOLE 5000 0 0
D AVALONBAY CMNTYS INC COMMON 053484101 5913 185500 SH OTHER 140500 0 45000
D AVNET COMMON 053807103 3308 90000 SH OTHER 65500 0 24500
D BAKER HUGHES INC COMMON 057224107 3708 152500 SH OTHER 104000 0 48500
D BANK ONE CORP COMMON 06423A103 12393 225065 SH OTHER 192565 0 32500
D BANKAMERICA CORP NEW COMMON 06605F102 5778 81806 SH OTHER 71806 0 10000
D BARRICK GOLD CORP COM COMMON 067901108 299 17500 SH SOLE 7500 0 10000
D BAXTER INTL INC COMMON 071813109 9735 147500 SH OTHER 119000 0 28500
D BAYER AG SPONS ADR FOREIGN 072730302 373 10000 SH SOLE 10000 0 0
D BECTON DICKINSON & CO COMMON 075887109 4885 127500 SH SOLE 112500 0 15000
D BELL ATLANTIC CORP COMMON 077853109 5480 106018 SH OTHER 93518 0 12500
D BESTFOODS COMMON 08658U101 3126 66500 SH SOLE 56500 0 10000
D BEVERLY ENTERPRISES I COMMON 087851309 1666 325000 SH OTHER 257000 0 68000
D BLACK & DECKER CORP COMMON 091797100 2218 40000 SH OTHER 36800 0 3200
D BLOCK H & R INC COMMON 093671105 49341 1041500 SH OTHER 844300 0 197200
D BOEING CO COMMON 097023105 4701 138258 SH SOLE 122258 0 16000
D BOISE CASCADE CORP COMMON 097383103 323 10000 SH SOLE 10000 0 0
D BOSTON PROPERTIES COMMON 101121101 3953 125000 SH OTHER 111500 0 13500
D BRANDYWINE RLTY TR SH COMMON 105368203 11975 736900 SH OTHER 573400 0 163500
D BRISTOL MYERS SQUIBB COMMON 110122108 808 12600 SH SOLE 12600 0 0
D BROWNING FERRIS INDS COMMON 115885105 32489 842500 SH OTHER 701000 0 141500
D BRUNSWICK CORP COMMON 117043109 5719 300000 SH OTHER 221000 0 79000
D BURLINGTON RESOURCES COMMON 122014103 1697 42500 SH SOLE 42500 0 0
D CABOT OIL & GAS CORP COMMON 127097103 715 49500 SH SOLE 49500 0 0
D CANADIAN PAC LTD NEW COMMON 135923100 11053 565000 SH OTHER 461800 0 103200
D CATERPILLAR INC COMMON 149123101 1263 27500 SH SOLE 22500 0 5000
D CBS CORPORATION COMMON 12490K107 7451 182575 SH OTHER 167575 0 15000
D CHAMPION INTL CORP COMMON 158525105 2361 57500 SH OTHER 46000 0 11500
D CHARTWELL RE CORP COM COMMON 16139W109 2011 116600 SH SOLE 95100 0 21500
D CHASE MANHATTAN CORPO COMMON 16161A108 54732 672586 SH OTHER 551786 0 120800
D CIGNA CORP COMMON 125509109 1048 12500 SH SOLE 12500 0 0
D CINERGY CORP COMMON 172474108 6806 247500 SH SOLE 225000 0 22500
D CITIGROUP INC. COMMON 172967101 71861 1125019 SH OTHER 929170 0 195849
D CLAYTON HOMES INC COM COMMON 184190106 7071 639175 SH OTHER 517925 0 121250
D COLUMBIA/HCA HEALTHCA COMMON 197677107 521 27500 SH SOLE 27500 0 0
D COMPAQ COMPUTER CORP COMMON 204493100 30421 960032 SH OTHER 791232 0 168800
D COMSAT CORP COMMON 20564D107 579 20000 SH SOLE 20000 0 0
D CONAGRA INC COMMON 205887102 751 29300 SH SOLE 19300 0 10000
D CONOCO INC CL A COMMON 208251306 246 10000 SH SOLE 10000 0 0
D COORS ADOLPH COMPANY COMMON 217016104 431 7975 SH SOLE 7975 0 0
D CORDIANT COMM GROUP S COMMON 218514206 1691 130050 SH OTHER 93350 0 36700
D CORNING INC COMMON 219350105 42750 712500 SH OTHER 593800 0 118700
D COSTCO COMPANIES INC COMMON 22160Q102 458 5000 SH SOLE 5000 0 0
D COX COMMUNICATIONS IN COMMON 224044107 1891 25000 SH OTHER 24500 0 500
D CRESCENT R E EQUITIES CONVERT 225756204 714 45000 SH SOLE 40000 0 5000
D CROMPTON & KNOWLES CO COMMON 227111101 158 10000 SH SOLE 10000 0 0
D CROWN AMERICAN RLTY T COMMON 228186102 65 10000 SH SOLE 10000 0 0
D CROWN CORK & SEAL INC COMMON 228255105 3428 120000 SH SOLE 115000 0 5000
D CUMMINS ENGINE INC COMMON 231021106 1067 30000 SH SOLE 22500 0 7500
D DATA GEN CORP COMMON 237688106 3746 370000 SH SOLE 289500 0 80500
D DATA GENERAL CONVERTI CONVERT 237688AG1 3591 42500 SH SOLE 27500 0 15000
D DELTA AIRLINES INC COMMON 247361108 3823 55000 SH SOLE 52500 0 2500
D DILLARDS INC CL A COMMON 254067101 254 10000 SH SOLE 10000 0 0
D DISNEY WALT PRODTNS COMMON 254687106 327 10500 SH SOLE 10500 0 0
D DOMINION RES INC VA COMMON 257470104 4155 112500 SH SOLE 95000 0 17500
D DOW CHEMICAL COMMON 260543103 746 8000 SH SOLE 8000 0 0
D DPL INC COMMON 233293109 3713 225000 SH SOLE 185000 0 40000
D DU PONT E I DE NEMOUR COMMON 263534109 2845 49000 SH OTHER 44700 0 4300
D DUKE PWR CO COMMON 264399106 7127 130016 SH OTHER 108994 0 21022
D DUKE RLTY INVTS INC C COMMON 264411505 1236 57500 SH SOLE 48700 0 8800
D EASTMAN KODAK COMMON 277461109 35930 562500 SH OTHER 454100 0 108400
D EEX CORP COMMON 26842V207 367 75241 SH SOLE 63575 0 11666
D ELECTRONIC DATA SYS C COMMON 285661104 20936 430000 SH OTHER 356400 0 73600
D ELF AQUITAINE SPONSOR COMMON 286269105 337 5000 SH SOLE 5000 0 0
D ENGELHARD CORP COMMON 292845104 1990 117500 SH OTHER 87000 0 30500
D ENRON OIL & GAS CO CO COMMON 293562104 6276 377500 SH SOLE 324500 0 53000
D EQUITY OFFICE PROPERT COMMON 294741103 29435 1160000 SH OTHER 926500 0 233500
D EQUITY RESIDENTIAL PP COMMON 29476L107 26029 631000 SH OTHER 495000 0 136000
D EXXON CORP COMMON 302290101 804 11400 SH SOLE 11400 0 0
D FEDERATED DEPARTMENT COMMON 31410H101 31598 787500 SH OTHER 646600 0 140900
D FIRST CENT FINL CORP CONVERT 318908AA8 33 220000 SH SOLE 220000 0 0
D FIRST UNION CORP COMMON 337358105 9485 177500 SH SOLE 141500 0 36000
D FIRSTENERGY CORP COM COMMON 337932107 1610 57500 SH SOLE 57500 0 0
D FLEET FINL GROUP INC COMMON 338915101 282 7500 SH SOLE 7500 0 0
D FMC CORP NEW COMMON 302491303 10364 209900 SH OTHER 156900 0 53000
D FORD MOTOR COMMON 345370100 539 9500 SH OTHER 9500 0 0
D FORT JAMES CORPORATIO COMMON 347471104 7449 235087 SH OTHER 211687 0 23400
D FREEPORT MCMORAN COPP CONVERT 35671D600 4119 269000 SH OTHER 210100 0 58900
D FRESH DEL MONTE PRODU COMMON G36738105 278 15000 SH SOLE 10000 0 5000
D GENERAL ELECTRIC COMMON 369604103 28763 260000 SH OTHER 222800 0 37200
D GENERAL MILLS INC COMMON 370334104 568 7500 SH SOLE 7500 0 0
D GENERAL MTRS CORP COMMON 370442105 22142 254500 SH OTHER 204300 0 50200
D GEORGIA GULF CORP COM COMMON 373200203 196 17500 SH SOLE 17500 0 0
D GLAXO PLC SPONSORED A COMMON 37733W105 1713 25601 SH OTHER 25601 0 0
D GMO FOREIGN FD III MUTUAL 362007551 1954 158074 SH SOLE 33074 0 125000
D GMO JAPAN FD CL III MUTUAL 362007486 350 50000 SH SOLE 50000 0 0
D GMO REIT FD CL III MUTUAL 362007627 2473 274125 SH SOLE 274125 0 0
D GMO TR EM CTY DEBT II MUTUAL 362007270 999 137044 SH SOLE 137044 0 0
D GRIFFON CORP COM COMMON 398433102 361 52500 SH SOLE 42500 0 10000
D GTE CORP COMMON 362320103 44165 730000 SH OTHER 596400 0 133600
D GTECH HLDGS CORP COM COMMON 400518106 4166 170900 SH OTHER 139900 0 31000
D GULF CDA RES LTD ORD COMMON 40218L305 5240 1950000 SH OTHER 1483500 0 466500
D HERCULES INC COMMON 427056106 432 17100 SH SOLE 14600 0 2500
D HEWLETT PACKARD COMMON 428236103 4442 65500 SH SOLE 52500 0 13000
D HILTON HOTEL CORP COMMON 432848109 3551 252500 SH OTHER 219500 0 33000
D ILLANOVA CORP COM COMMON 452317100 5615 265000 SH SOLE 225000 0 40000
D IMPERIAL TOBACCO GROU COMMON 453142101 4360 215314 SH SOLE 194814 0 20500
D INCO LTD COMMON 453258402 632 47500 SH SOLE 45000 0 2500
D INFORMATION RES INC COMMON 456905108 8295 1288500 SH OTHER 981500 0 307000
D INGERSOLL-RAND CO / I CONVERT 456867308 394 17500 SH SOLE 17500 0 0
D INTEL CORP COMMON 458140100 9213 155000 SH OTHER 142600 0 12400
D INTERGRAPH CORP COMMON 458683109 726 107500 SH SOLE 107500 0 0
D INTERMET CORP COMMON 45881K104 6019 450000 SH OTHER 349500 0 100500
D INTERNATIONAL PAPER C COMMON 460146103 1898 45000 SH SOLE 45000 0 0
D INTERNATIONBUSINESS M COMMON 459200101 51456 290300 SH OTHER 241900 0 48400
D INTL RECTIFIER CORP COMMON 460254105 9958 1422500 SH OTHER 1108500 0 314000
D JOHNSON & JOHNSON COMMON 478160104 5704 61000 SH OTHER 47500 0 13500
D JOSTENS INC COMMON 481088102 850 40000 SH SOLE 35000 0 5000
D JP RLTY INC COM COMMON 46624A106 35339 1795000 SH OTHER 1436000 0 359000
D KERR-MCGEE CORP COMMON 492386107 7301 222500 SH OTHER 175000 0 47500
D KIMBERLY CLARK CORP COMMON 494368103 32957 687500 SH OTHER 561600 0 125900
D KLM ROYAL DUTCH AIRLI COMMON 482516101 2706 97500 SH SOLE 72500 0 25000
D LASMO ADR FOREIGN 501730204 1621 267400 SH OTHER 210800 0 56600
D LIBERTY PPTY TR SH BE COMMON 531172104 415 20000 SH SOLE 20000 0 0
D LILLY ELI & CO COMMON 532457108 18715 220500 SH OTHER 181000 0 39500
D LOCKHEED MARTIN CORP COMMON 539830109 1321 35000 SH SOLE 27300 0 7700
D LUXOTTICA GROUP S P A COMMON 55068R202 129 10000 SH SOLE 0 0 10000
D MACK CALI RLTY CORP C COMMON 554489104 10428 355000 SH OTHER 278800 0 76200
D MANPOWER INC COM COMMON 56418H100 18141 776100 SH OTHER 606900 0 169200
D MASCOTECH INC COM COMMON 574670105 8990 580000 SH OTHER 477000 0 103000
D MATTEL INC COMMON 577081102 1372 55000 SH SOLE 55000 0 0
D MAXTOR CORP COM NEW COMMON 577729205 1342 190000 SH SOLE 147500 0 42500
D MAYTAG CO COMMON 578592107 6182 102400 SH OTHER 94900 0 7500
D MCI WORLDCOM COMMON 55268B106 443 5000 SH OTHER 5000 0 0
D MEDIAONE GROUP INC CO COMMON 58440J104 36477 575000 SH OTHER 488500 0 86500
D MEDIAONE GROUP INC PF PREFERR 58440J203 610 4743 SH SOLE 4743 0 0
D MELLON BANK COMMON 585509102 232 3300 SH SOLE 3300 0 0
D MERCK & CO COMMON 589331107 833 10400 SH SOLE 10400 0 0
D MIDAMERICAN ENERGY COMMON 59562V107 420 15000 SH SOLE 15000 0 0
D MILACRON, INC. COMMON 598709103 5867 372500 SH OTHER 321000 0 51500
D MINNESOTA MNG & MFG C COMMON 604059105 3361 47500 SH SOLE 41500 0 6000
D MITCHELL ENERGY & DEV COMMON 606592202 1586 127500 SH OTHER 116500 0 11000
D MITCHELL ENERGY & DEV COMMON 606592301 6031 482500 SH OTHER 369500 0 113000
D MOBIL CORP COMMON 607059102 5060 57500 SH OTHER 57500 0 0
D MODIS PROFESSIONAL SE COMMON 607830106 13585 1499000 SH OTHER 1193500 0 305500
D MYLAN LABS INC COMMON 628530107 1468 53500 SH OTHER 52500 0 1000
D NATL SEMICONDUCTOR COMMON 637640103 4191 450000 SH OTHER 345000 0 105000
D NESTLES ADR FOREIGN 641069406 27900 310000 SH OTHER 254000 0 56000
D NEW YORK TIMES CO CLA COMMON 650111107 718 25200 SH OTHER 18700 0 6500
D NEWMONT MNG CORP COMMON 651639106 529 30250 SH SOLE 30250 0 0
D NEWS CORP LTD COMMON 652487703 3540 120000 SH SOLE 80000 0 40000
D NIAGARA MOHAWK HOLIDN COMMON 653520106 13068 972500 SH SOLE 780000 0 192500
D NOBLE AFFILIATES COMMON 654894104 249 8600 SH SOLE 8600 0 0
D NORAM ENERGY CORP 6.0 CONVERT 655419AC3 1671 1750000 SH SOLE 1200000 0 550000
D NORTHERN STS PWR CO M COMMON 665772109 870 37500 SH SOLE 25000 0 12500
D OCCIDENTAL PETE CORP COMMON 674599105 17100 950000 SH OTHER 820000 0 130000
D OGDEN CORP COMMON 676346109 722 30000 SH SOLE 30000 0 0
D OWENS CORNING COMMON 69073F103 29344 922400 SH OTHER 743400 0 179000
D OWENS & MINOR INC NEW COMMON 690732102 2243 221500 SH OTHER 192500 0 29000
D PACIFICORP COMMON 695114108 1880 109000 SH SOLE 89000 0 20000
D PALL CORP COMMON 696429307 10476 632500 SH OTHER 526100 0 106400
D PARAMETRIC TECHNOLOGY COMMON 699173100 20244 1025000 SH OTHER 840000 0 185000
D PENNZOIL-QUAKER ST CO COMMON 709323109 124 10000 SH SOLE 10000 0 0
D PEPSICO INC COMMON 713448108 202 5160 SH SOLE 160 0 5000
D PG&E CORP COM COMMON 69331C108 1553 50000 SH SOLE 50000 0 0
D PHARMERICA INC COM COMMON 717135107 125 25000 SH SOLE 25000 0 0
D PHYCOR INC COM COMMON 71940F100 2173 457500 SH OTHER 350000 0 107500
D PLACER DOME INC COMMON 725906101 1184 105875 SH OTHER 95375 0 10500
D PNC FINANCIAL CORP COMMON 693475105 4251 76500 SH SOLE 76500 0 0
D PPG INDS INC COMMON 693506107 2563 50000 SH SOLE 47500 0 2500
D PRIME GROUP RLTY TR S COMMON 74158J103 345 26000 SH SOLE 26000 0 0
D PUBLIC SVC ENTERPRISE COMMON 744573106 1623 42500 SH OTHER 42500 0 0
D QUESTAR CORP COMMON 748356102 423 25000 SH SOLE 25000 0 0
D RALSTON PURINA CO COM COMMON 751277302 200 7500 SH SOLE 2500 0 5000
D RANGER OIL CDA LTD COMMON 752805101 300 75000 SH SOLE 75000 0 0
D RAYTHEON CO CL B COMMON 755111408 3224 55000 SH OTHER 35000 0 20000
D RECKSON ASSOCS RLTY C COMMON 75621K106 3903 189800 SH OTHER 121000 0 68800
D RECKSON PFD A COMMON 75621K205 2496 122500 SH SOLE 85000 0 37500
D RELIANCE GROUP HLDGS COMMON 759464100 6630 862500 SH OTHER 718500 0 144000
D RELIANT ENERGY INC COMMON 75952J108 2417 92738 SH OTHER 87738 0 5000
D REUTERS GROUP PLC-SPO COMMON 76132M102 534 6151 SH SOLE 6151 0 0
D REYNOLDS METALS CO COMMON 761763101 1570 32500 SH SOLE 29000 0 3500
D RJR NABISCO HLDGS COR COMMON 74960K876 4063 162500 SH SOLE 149800 0 12700
D ROCHE 0% 4/20/10 CONVERT 771196AC6 1418 2250000 SH SOLE 1250000 0 1,000000
D ROCKWELL INTL CORP NE COMMON 773903109 3501 82500 SH OTHER 71000 0 11500
D ROYAL DUTCH PETRO-NY COMMON 780257804 2574 49500 SH SOLE 34500 0 15000
D RYDER SYS INC COMMON 783549108 21686 785000 SH OTHER 656600 0 128400
D S & P 500 JUN 1250 OPTION 6488151RV 100 SH SOLE 0 0
D SAATCHI & SAATCHI PLC COMMON 785144205 1110 67500 SH SOLE 49000 0 18500
D SABRE GROUP HLDGS INC COMMON 785905100 1021 22500 SH SOLE 22500 0 0
D SAFETY-KLEEN CORP. NE COMMON 78648R203 265 20000 SH SOLE 20000 0 0
D SAKS INC COMMON 79377W108 17218 662222 SH OTHER 538156 0 124066
D SARA LEE CORP COMMON 803111103 2284 92300 SH SOLE 79800 0 12500
D SBC COMMUNICATIONS, I COMMON 78387G103 5909 125218 SH OTHER 102718 0 22500
D SEARS ROEBUCK & CO COMMON 812387108 22029 487500 SH OTHER 413800 0 73700
D SIMON PPTY GROUP INC COMMON 828806109 1372 50000 SH SOLE 50000 0 0
D SMITHKLINE BEECHAM PL COMMON 832378301 7150 100000 SH SOLE 80000 0 20000
D SOUTHERN CO COMMON 842587107 758 32500 SH SOLE 32500 0 0
D SOUTHWEST AIRLS CO COMMON 844741108 862 28500 SH OTHER 28500 0 0
D SPIEKER PPTYS INC COM COMMON 848497103 10751 305000 SH OTHER 233800 0 71200
D ST JOE CO COM COMMON 790148100 994 41000 SH SOLE 20000 0 21000
D ST PAUL COS INC COMMON 792860108 356 11460 SH SOLE 11460 0 0
D STANLEY WORKS COMMON 854616109 9289 362500 SH OTHER 294000 0 68500
D STEWART & STEVENSON S COMMON 860342104 1999 260000 SH SOLE 212500 0 47500
D STONERIDGE INC COM COMMON 86183P102 1645 117500 SH SOLE 95000 0 22500
D STORAGE TECHNOLOGY CO COMMON 862111200 39555 1419001 SH OTHER 1163601 0 255400
D SUMMIT PPTYS INC COM COMMON 866239106 21418 1283500 SH OTHER 1035300 0 248200
D SUNTRUST BANKS INC COMMON 867914103 299 4800 SH SOLE 4800 0 0
D TENNECO INC COMMON 8.80E+105 6146 220000 SH OTHER 184500 0 35500
D TEXACO INC COMMON 881694103 1419 25000 SH OTHER 25000 0 0
D TEXAS UTILS CO COMMON 882848104 34227 814940 SH OTHER 700491 0 114449
D TEXAS UTILS CO INCOME CONVERT 882848203 2399 45000 SH SOLE 30000 0 15000
D THOMAS & BETTS CORP COMMON 884315102 1878 50000 SH SOLE 44000 0 6000
D TIG HOLDINGS COMMON 872469101 17373 1065000 SH OTHER 822500 0 242500
D TIME WARNER INC COMMON 887315109 1416 20000 SH OTHER 20000 0 0
D TOTAL S A SPONSORED A COMMON 8.92E+113 1373 22500 SH OTHER 20000 0 2500
D TOWER RLTY TR INC COM COMMON 8.92E+113 900 47500 SH SOLE 34700 0 12800
D TOYS R US COMMON 892335100 34521 1835000 SH OTHER 1529000 0 306000
D TRANSCANADA PIPELINES COMMON 893526103 2599 202875 SH SOLE 171875 0 31000
D TRITON ENERGY LTD CL COMMON G90751101 2028 257500 SH SOLE 207500 0 50000
D U S WEST INC NEW COM COMMON 91273H101 17709 321618 SH OTHER 275613 0 46005
D UAL CORP COM COMMON 902549500 2453 31500 SH SOLE 23000 0 8500
D ULTRAMAR DIAMD SHAMRO COMMON 904000106 541 25000 SH SOLE 25000 0 0
D UNICOM CORP COM COMMON 904911104 23219 635050 SH OTHER 525750 0 109300
D UNION CARBIDE CORP COMMON 905581104 203 4500 SH SOLE 4500 0 0
D UNION PAC CONV PFD 6. CONVERT 907824205 8040 160000 SH SOLE 149000 0 11000
D UNION PAC RES GROUP I COMMON 907834105 18288 1540000 SH OTHER 1256000 0 284000
D UNITED DOMINION RLTY COMMON 910197102 7559 737500 SH SOLE 637500 0 100000
D UNITED TECHNOLOGIES C COMMON 913017109 21331 157500 SH OTHER 130000 0 27500
D UNOCAL CORP COMMON 915289102 18013 488500 SH OTHER 402800 0 85700
D UNOCAL CORP 6.25% TRU CONVERT 91528T207 8842 163749 SH OTHER 128415 0 35334
D US AIRWAYS GROUP INC COMMON 911905107 5102 104531 SH OTHER 74531 0 30000
D USG CORP COMMON 903293405 2055 40000 SH OTHER 40000 0 0
D USX MARATHON GROUP CO COMMON 902905827 20763 755000 SH OTHER 619500 0 135500
D USX US STEEL GROUP CO COMMON 90337T101 1234 52500 SH SOLE 52500 0 0
D VLSI TECH CONVERTIBLE CONVERT 918270AB5 7880 80000 SH SOLE 57500 0 22500
D WAL MART STORES INC COMMON 931142103 36882 800150 SH OTHER 684150 0 116000
D WALDEN RESIDENTIAL PP COMMON 931210108 8416 477500 SH OTHER 420000 0 57500
D WALDEN RESIDENTIAL PP PREFERR 931210603 1348 84251 SH SOLE 84251 0 0
D WALDEN SERIES B WARRA WARRANT 999999999 280837 SH SOLE 280837 0 0
D WASTE MANAGEMENT INC COMMON 94106L109 107551 2423690 SH OTHER 1936690 0 487000
D WELLMAN INC COMMON 949702104 1109 125000 SH SOLE 95000 0 30000
D WELLS FARGO NEW COMMON 949746101 9981 284660 SH OTHER 269660 0 15000
D WENDYS INTERNATIONAL COMMON 950590109 284 10000 SH SOLE 10000 0 0
D WESTCOAST ENERGY COMMON 95751D102 3815 195000 SH SOLE 166500 0 28500
D WESTERN GAS RES INC C COMMON 958259103 131 17500 SH SOLE 17000 0 500
D WESTVACO CORP COMMON 961548104 315 15000 SH SOLE 15000 0 0
D WEYERHAEUSER CO COMMON 962166104 7980 143775 SH OTHER 123775 0 20000
D WITCO CHEM INC COMMON 977385103 126 10000 SH SOLE 10000 0 0
D XEROX CORP COMMON 984121103 6125 117500 SH OTHER 98500 0 19000
D ABITIBI-CONSOLIDATED COMMON 003924107 5993 680000 SH 670000 10000
D ACUSON CORP COMMON 005113105 11427 765000 SH 745000 20000
D ADVANCED MICRO DEVICE COMMON 007903107 155 10000 SH 10000
D AETNA INC PFD CL C 6. CONVERT 008117202 1505 19900 SH 19900
D AETNA INC. COMMON 008117103 3528 42500 SH 40000 2500
D AIRBORNE FREIGHT COMMON 009266107 1163 37500 SH 37500
D ALBEMARLE CORP COM COMMON 012653101 890 42500 SH 42500
D ALCAN ALUMINIUM LTD COMMON 013716105 1275 49400 SH 49400
D ALLEGHENY TELEDYNE IN COMMON 017415100 3410 180073 SH 170073 10000
D ALLSTATE COMMON 020002101 14826 400039 SH 387539 12500
D AMCOL INTL CORP COMMON 02341W103 4900 490000 SH 477500 12500
D AMD CONVERTIBLES 6% CONVERT 007903AC1 8697 121000 SH 118500 2500
D AMERADA HESS CORP COMMON 023551104 9285 182500 SH 177500 5000
D AMERICAN EXPRESS COMMON 025816109 27554 234000 SH 225000 9000
D AMERICAN GREETINGS CO COMMON 026375105 23599 930000 SH 905000 25000
D AMERICAN INTL GROUP COMMON 026874107 724 6005 SH 6005
D AMLI RESIDENTIAL PROP COMMON 001735109 722 35000 SH 35000
D AMR CORP COMMON 001765106 7320 125000 SH 120000 5000
D ANHEUSER BUSCH COS IN COMMON 035229103 37111 487500 SH 478000 9500
D ARMCO CONV. PFD. 7.25 CONVERT 042170407 2090 47500 SH 47500
D AT & T CORP. COMMON 001957109 2016 37891 SH 22506 15386
D ATLANTIC RICHFIELD CO COMMON 048825103 1280 17500 SH 17500
D AUTOMATIC DATA PROCES COMMON 053015103 207 5000 SH 5000
D AVALONBAY CMNTYS INC COMMON 053484101 5913 185500 SH 180500 5000
D AVNET COMMON 053807103 3308 90000 SH 85000 5000
D BAKER HUGHES INC COMMON 057224107 3708 152500 SH 147500 5000
D BANK ONE CORP COMMON 06423A103 12393 225065 SH 217565 7500
D BANKAMERICA CORP NEW COMMON 06605F102 5778 81806 SH 76806 5000
D BARRICK GOLD CORP COM COMMON 067901108 299 17500 SH 17500
D BAXTER INTL INC COMMON 071813109 9735 147500 SH 142500 5000
D BAYER AG SPONS ADR FOREIGN 072730302 373 10000 SH 10000
D BECTON DICKINSON & CO COMMON 075887109 4885 127500 SH 127500
D BELL ATLANTIC CORP COMMON 077853109 5480 106018 SH 101018 5000
D BESTFOODS COMMON 08658U101 3126 66500 SH 66500
D BEVERLY ENTERPRISES I COMMON 087851309 1666 325000 SH 320000 5000
D BLACK & DECKER CORP COMMON 091797100 2218 40000 SH 35000 5000
D BLOCK H & R INC COMMON 093671105 49341 1041500 SH 1006500 35000
D BOEING CO COMMON 097023105 4701 138258 SH 138258
D BOISE CASCADE CORP COMMON 097383103 323 10000 SH 10000
D BOSTON PROPERTIES COMMON 101121101 3953 125000 SH 115000 10000
D BRANDYWINE RLTY TR SH COMMON 105368203 11975 736900 SH 724400 12500
D BRISTOL MYERS SQUIBB COMMON 110122108 808 12600 SH 12600
D BROWNING FERRIS INDS COMMON 115885105 32489 842500 SH 827500 15000
D BRUNSWICK CORP COMMON 117043109 5719 300000 SH 290000 10000
D BURLINGTON RESOURCES COMMON 122014103 1697 42500 SH 42500
D CABOT OIL & GAS CORP COMMON 127097103 715 49500 SH 49500
D CANADIAN PAC LTD NEW COMMON 135923100 11053 565000 SH 551500 13500
D CATERPILLAR INC COMMON 149123101 1263 27500 SH 27500
D CBS CORPORATION COMMON 12490K107 7451 182575 SH 175075 7500
D CHAMPION INTL CORP COMMON 158525105 2361 57500 SH 56000 1500
D CHARTWELL RE CORP COM COMMON 16139W109 2011 116600 SH 116600
D CHASE MANHATTAN CORPO COMMON 16161A108 54732 672586 SH 652586 20000
D CIGNA CORP COMMON 125509109 1048 12500 SH 12500
D CINERGY CORP COMMON 172474108 6806 247500 SH 247500
D CITIGROUP INC. COMMON 172967101 71861 1125019 SH 1087519 37500
D CLAYTON HOMES INC COM COMMON 184190106 7071 639175 SH 631675 7500
D COLUMBIA/HCA HEALTHCA COMMON 197677107 521 27500 SH 27500
D COMPAQ COMPUTER CORP COMMON 204493100 30421 960032 SH 940532 19500
D COMSAT CORP COMMON 20564D107 579 20000 SH 20000
D CONAGRA INC COMMON 205887102 751 29300 SH 29300
D CONOCO INC CL A COMMON 208251306 246 10000 SH 10000
D COORS ADOLPH COMPANY COMMON 217016104 431 7975 SH 7975
D CORDIANT COMM GROUP S COMMON 218514206 1691 130050 SH 128550 1500
D CORNING INC COMMON 219350105 42750 712500 SH 695000 17500
D COSTCO COMPANIES INC COMMON 22160Q102 458 5000 SH 5000
D COX COMMUNICATIONS IN COMMON 224044107 1891 25000 SH 22500 2500
D CRESCENT R E EQUITIES CONVERT 225756204 714 45000 SH 45000
D CROMPTON & KNOWLES CO COMMON 227111101 158 10000 SH 10000
D CROWN AMERICAN RLTY T COMMON 228186102 65 10000 SH 10000
D CROWN CORK & SEAL INC COMMON 228255105 3428 120000 SH 120000
D CUMMINS ENGINE INC COMMON 231021106 1067 30000 SH 30000
D DATA GEN CORP COMMON 237688106 3746 370000 SH 370000
D DATA GENERAL CONVERTI CONVERT 237688AG1 3591 42500 SH 42500
D DELTA AIRLINES INC COMMON 247361108 3823 55000 SH 55000
D DILLARDS INC CL A COMMON 254067101 254 10000 SH 10000
D DISNEY WALT PRODTNS COMMON 254687106 327 10500 SH 10500
D DOMINION RES INC VA COMMON 257470104 4155 112500 SH 112500
D DOW CHEMICAL COMMON 260543103 746 8000 SH 8000
D DPL INC COMMON 233293109 3713 225000 SH 225000
D DU PONT E I DE NEMOUR COMMON 263534109 2845 49000 SH 44000 5000
D DUKE PWR CO COMMON 264399106 7127 130016 SH 122516 7500
D DUKE RLTY INVTS INC C COMMON 264411505 1236 57500 SH 57500
D EASTMAN KODAK COMMON 277461109 35930 562500 SH 545000 17500
D EEX CORP COMMON 26842V207 367 75241 SH 75241
D ELECTRONIC DATA SYS C COMMON 285661104 20936 430000 SH 417500 12500
D ELF AQUITAINE SPONSOR COMMON 286269105 337 5000 SH 5000
D ENGELHARD CORP COMMON 292845104 1990 117500 SH 115000 2500
D ENRON OIL & GAS CO CO COMMON 293562104 6276 377500 SH 377500
D EQUITY OFFICE PROPERT COMMON 294741103 29435 1160000 SH 1130000 30000
D EQUITY RESIDENTIAL PP COMMON 29476L107 26029 631000 SH 613500 17500
D EXXON CORP COMMON 302290101 804 11400 SH 11400
D FEDERATED DEPARTMENT COMMON 31410H101 31598 787500 SH 770000 17500
D FIRST CENT FINL CORP CONVERT 318908AA8 33 220000 SH 2200
D FIRST UNION CORP COMMON 337358105 9485 177500 SH 177500
D FIRSTENERGY CORP COM COMMON 337932107 1610 57500 SH 57500
D FLEET FINL GROUP INC COMMON 338915101 282 7500 SH 7500
D FMC CORP NEW COMMON 302491303 10364 209900 SH 202400 7500
D FORD MOTOR COMMON 345370100 539 9500 SH 5000 4500
D FORT JAMES CORPORATIO COMMON 347471104 7449 235087 SH 230087 5000
D FREEPORT MCMORAN COPP CONVERT 35671D600 4119 269000 SH 264000 5000
D FRESH DEL MONTE PRODU COMMON G36738105 278 15000 SH 15000
D GENERAL ELECTRIC COMMON 369604103 28763 260000 SH 251500 8500
D GENERAL MILLS INC COMMON 370334104 567 7500 SH 7500
D GENERAL MTRS CORP COMMON 370442105 22141 254500 SH 246000 8500
D GEORGIA GULF CORP COM COMMON 373200203 196 17500 SH 17500
D GLAXO PLC SPONSORED A COMMON 37733W105 1714 25601 SH 20601 5000
D GMO FOREIGN FD III MUTUAL 362007551 1954 158074 SH 158074
D GMO JAPAN FD CL III MUTUAL 362007486 350 50000 SH 50000
D GMO REIT FD CL III MUTUAL 362007627 2473 274125 SH 274125
D GMO TR EM CTY DEBT II MUTUAL 362007270 999 137044 SH 137044
D GRIFFON CORP COM COMMON 398433102 361 52500 SH 52500
D GTE CORP COMMON 362320103 44165 730000 SH 707500 22500
D GTECH HLDGS CORP COM COMMON 400518106 4166 170900 SH 168400 2500
D GULF CDA RES LTD ORD COMMON 40218L305 5241 1950000 SH 1935000 15000
D HERCULES INC COMMON 427056106 432 17100 SH 17100
D HEWLETT PACKARD COMMON 428236103 4442 65500 SH 65500
D HILTON HOTEL CORP COMMON 432848109 3551 252500 SH 247500 5000
D ILLANOVA CORP COM COMMON 452317100 5615 265000 SH 265000
D IMPERIAL TOBACCO GROU COMMON 453142101 4360 215314 SH 215314
D INCO LTD COMMON 453258402 632 47500 SH 47500
D INFORMATION RES INC COMMON 456905108 8295 1288500 SH 1268500 20000
D INGERSOLL-RAND CO / I CONVERT 456867308 398 17500 SH 17500
D INTEL CORP COMMON 458140100 9213 155000 SH 150000 5000
D INTERGRAPH CORP COMMON 458683109 726 107500 SH 107500
D INTERMET CORP COMMON 45881K104 6019 450000 SH 435000 15000
D INTERNATIONAL PAPER C COMMON 460146103 1898 45000 SH 45000
D INTERNATIONBUSINESS M COMMON 459200101 51456 290300 SH 280300 10000
D INTL RECTIFIER CORP COMMON 460254105 9958 1422500 SH 1392500 30000
D JOHNSON & JOHNSON COMMON 478160104 5704 61000 SH 58500 2500
D JOSTENS INC COMMON 481088102 850 40000 SH 40000
D JP RLTY INC COM COMMON 46624A106 35339 1795000 SH 1737500 57500
D KERR-MCGEE CORP COMMON 492386107 7301 222500 SH 220000 2500
D KIMBERLY CLARK CORP COMMON 494368103 32957 687500 SH 672500 15000
D KLM ROYAL DUTCH AIRLI COMMON 482516101 2706 97500 SH 97500
D LASMO ADR FOREIGN 501730204 1621 267400 SH 242400 25000
D LIBERTY PPTY TR SH BE COMMON 531172104 415 20000 SH 20000
D LILLY ELI & CO COMMON 532457108 18715 220500 SH 212000 8500
D LOCKHEED MARTIN CORP COMMON 539830109 1321 35000 SH 35000
D LUXOTTICA GROUP S P A COMMON 55068R202 129 10000 SH 10000
D MACK CALI RLTY CORP C COMMON 554489104 10428 355000 SH 348500 6500
D MANPOWER INC COM COMMON 56418H100 18141 776100 SH 758600 17500
D MASCOTECH INC COM COMMON 574670105 8990 580000 SH 579000 1000
D MATTEL INC COMMON 577081102 1372 55000 SH 55000
D MAXTOR CORP COM NEW COMMON 577729205 1342 190000 SH 190000
D MAYTAG CO COMMON 578592107 6182 102400 SH 97400 5000
D MCI WORLDCOM COMMON 55268B106 443 5000 SH 5000
D MEDIAONE GROUP INC CO COMMON 58440J104 36477 575000 SH 552500 22500
D MEDIAONE GROUP INC PF PREFERR 58440J203 610 4743 SH 4743
D MELLON BANK COMMON 585509102 232 3300 SH 3300
D MERCK & CO COMMON 589331107 833 10400 SH 10400
D MIDAMERICAN ENERGY COMMON 59562V107 420 15000 SH 15000
D MILACRON, INC. COMMON 598709103 5867 372500 SH 367500 5000
D MINNESOTA MNG & MFG C COMMON 604059105 3361 47500 SH 47500
D MITCHELL ENERGY & DEV COMMON 606592202 1586 127500 SH 102500 25000
D MITCHELL ENERGY & DEV COMMON 606592301 6031 482500 SH 480000 2500
D MOBIL CORP COMMON 607059102 5060 57500 SH 52500 5000
D MODIS PROFESSIONAL SE COMMON 607830106 13585 1499000 SH 1449000 50000
D MYLAN LABS INC COMMON 628530107 1468 53500 SH 38500 15000
D NATL SEMICONDUCTOR COMMON 637640103 4191 450000 SH 445000 5000
D NESTLES ADR FOREIGN 641069406 27900 310000 SH 302500 7500
D NEW YORK TIMES CO CLA COMMON 650111107 718 25200 SH 23700 1500
D NEWMONT MNG CORP COMMON 651639106 529 30250 SH 30250
D NEWS CORP LTD COMMON 652487703 3540 120000 SH 120000
D NIAGARA MOHAWK HOLIDN COMMON 653520106 13068 972500 SH 972500
D NOBLE AFFILIATES COMMON 654894104 249 8600 SH 8600
D NORAM ENERGY CORP 6.0 CONVERT 655419AC3 1671 1750000 SH 17500
D NORTHERN STS PWR CO M COMMON 665772109 870 37500 SH 37500
D OCCIDENTAL PETE CORP COMMON 674599105 17100 950000 SH 945000 5000
D OGDEN CORP COMMON 676346109 722 30000 SH 30000
D OWENS CORNING COMMON 69073F103 29344 922400 SH 904900 17500
D OWENS & MINOR INC NEW COMMON 690732102 2243 221500 SH 211500 10000
D PACIFICORP COMMON 695114108 1880 109000 SH 109000
D PALL CORP COMMON 696429307 10476 632500 SH 622500 10000
D PARAMETRIC TECHNOLOGY COMMON 699173100 20244 1025000 SH 1020000 5000
D PENNZOIL-QUAKER ST CO COMMON 709323109 124 10000 SH 10000
D PEPSICO INC COMMON 713448108 202 5160 SH 5160
D PG&E CORP COM COMMON 69331C108 1553 50000 SH 50000
D PHARMERICA INC COM COMMON 717135107 125 25000 SH 25000
D PHYCOR INC COM COMMON 71940F100 2173 457500 SH 447500 10000
D PLACER DOME INC COMMON 725906101 1184 105875 SH 100875 5000
D PNC FINANCIAL CORP COMMON 693475105 4251 76500 SH 76500
D PPG INDS INC COMMON 693506107 2563 50000 SH 50000
D PRIME GROUP RLTY TR S COMMON 74158J103 345 26000 SH 26000
D PUBLIC SVC ENTERPRISE COMMON 744573106 1623 42500 SH 40000 2500
D QUESTAR CORP COMMON 748356102 423 25000 SH 25000
D RALSTON PURINA CO COM COMMON 751277302 200 7500 SH 7500
D RANGER OIL CDA LTD COMMON 752805101 300 75000 SH 75000
D RAYTHEON CO CL B COMMON 755111408 3224 55000 SH 52500 2500
D RECKSON ASSOCS RLTY C COMMON 75621K106 3903 189800 SH 184800 5000
D RECKSON PFD A COMMON 75621K205 2496 122500 SH 122500
D RELIANCE GROUP HLDGS COMMON 759464100 6630 862500 SH 837500 25000
D RELIANT ENERGY INC COMMON 75952J108 2417 92738 SH 87116 5622
D REUTERS GROUP PLC-SPO COMMON 76132M102 534 6151 SH 6151
D REYNOLDS METALS CO COMMON 761763101 1570 32500 SH 32500
D RJR NABISCO HLDGS COR COMMON 74960K876 4063 162500 SH 162500
D ROCHE 0% 4/20/10 CONVERT 771196AC6 1418 2250000 SH 22500
D ROCKWELL INTL CORP NE COMMON 773903109 3501 82500 SH 77500 5000
D ROYAL DUTCH PETRO-NY COMMON 780257804 2574 49500 SH 49500
D RYDER SYS INC COMMON 783549108 21686 785000 SH 767500 17500
D S & P 500 JUN 1250 OPTION 6488151RV 100 SH 10000
D SAATCHI & SAATCHI PLC COMMON 785144205 1110 67500 SH 67500
D SABRE GROUP HLDGS INC COMMON 785905100 1021 22500 SH 22500
D SAFETY-KLEEN CORP. NE COMMON 78648R203 265 20000 SH 20000
D SAKS INC COMMON 79377W108 17218 662222 SH 646222 16000
D SARA LEE CORP COMMON 803111103 2284 92300 SH 92300
D SBC COMMUNICATIONS, I COMMON 78387G103 5909 125218 SH 123120 2098
D SEARS ROEBUCK & CO COMMON 812387108 22029 487500 SH 485000 2500
D SIMON PPTY GROUP INC COMMON 828806109 1372 50000 SH 50000
D SMITHKLINE BEECHAM PL COMMON 832378301 7150 100000 SH 100000
D SOUTHERN CO COMMON 842587107 758 32500 SH 32500
D SOUTHWEST AIRLS CO COMMON 844741108 862 28500 SH 22875 5625
D SPIEKER PPTYS INC COM COMMON 848497103 10751 305000 SH 302500 2500
D ST JOE CO COM COMMON 790148100 994 41000 SH 41000
D ST PAUL COS INC COMMON 792860108 356 11460 SH 11460
D STANLEY WORKS COMMON 854616109 9289 362500 SH 355000 7500
D STEWART & STEVENSON S COMMON 860342104 1999 260000 SH 260000
D STONERIDGE INC COM COMMON 86183P102 1645 117500 SH 117500
D STORAGE TECHNOLOGY CO COMMON 862111200 39555 1419001 SH 1374001 45000
D SUMMIT PPTYS INC COM COMMON 866239106 21418 1283500 SH 1253500 30000
D SUNTRUST BANKS INC COMMON 867914103 299 4800 SH 4800
D TENNECO INC COMMON 88037E101 6146 220000 SH 217500 2500
D TEXACO INC COMMON 881694103 1419 25000 SH 24000 1000
D TEXAS UTILS CO COMMON 882848104 34227 814940 SH 794940 20000
D TEXAS UTILS CO INCOME CONVERT 882848203 2399 45000 SH 45000
D THOMAS & BETTS CORP COMMON 884315102 1878 50000 SH 50000
D TIG HOLDINGS COMMON 872469101 17373 1065000 SH 1057500 7500
D TIME WARNER INC COMMON 887315109 1416 20000 SH 15000 5000
D TOTAL S A SPONSORED A COMMON 89151E109 1373 22500 SH 20000 2500
D TOWER RLTY TR INC COM COMMON 891852109 900 47500 SH 47500
D TOYS R US COMMON 892335100 34520 1835000 SH 1802500 32500
D TRANSCANADA PIPELINES COMMON 893526103 2599 202875 SH 202875
D TRITON ENERGY LTD CL COMMON G90751101 2028 257500 SH 257500
D U S WEST INC NEW COM COMMON 91273H101 17709 321618 SH 314118 7500
D UAL CORP COM COMMON 902549500 2453 31500 SH 31500
D ULTRAMAR DIAMD SHAMRO COMMON 904000106 541 25000 SH 25000
D UNICOM CORP COM COMMON 904911104 23219 635050 SH 615050 20000
D UNION CARBIDE CORP COMMON 905581104 203 4500 SH 4500
D UNION PAC CONV PFD 6. CONVERT 907824205 8040 160000 SH 160000
D UNION PAC RES GROUP I COMMON 907834105 18288 1540000 SH 1507500 32500
D UNITED DOMINION RLTY COMMON 910197102 7559 737500 SH 737500
D UNITED TECHNOLOGIES C COMMON 913017109 21331 157500 SH 150000 7500
D UNOCAL CORP COMMON 915289102 18013 488500 SH 473500 15000
D UNOCAL CORP 6.25% TRU CONVERT 91528T207 8842 163749 SH 160959 2790
D US AIRWAYS GROUP INC COMMON 911905107 5102 104531 SH 99300 5231
D USG CORP COMMON 903293405 2055 40000 SH 40000
D USX MARATHON GROUP CO COMMON 902905827 20763 755000 SH 732500 22500
D USX US STEEL GROUP CO COMMON 90337T101 1234 52500 SH 52500
D VLSI TECH CONVERTIBLE CONVERT 918270AB5 7880 80000 SH 80000
D WAL MART STORES INC COMMON 931142103 36882 800150 SH 767150 33000
D WALDEN RESIDENTIAL PP COMMON 931210108 8416 477500 SH 465000 12500
D WALDEN RESIDENTIAL PP PREFERR 931210603 1348 84251 SH 84251
D WALDEN SERIES B WARRA WARRANT 999999999 280837 SH 280837
D WASTE MANAGEMENT INC COMMON 94106L109 107551 2423690 SH 2348690 75000
D WELLMAN INC COMMON 949702104 1109 125000 SH 125000
D WELLS FARGO NEW COMMON 949746101 9981 284660 SH 277160 7500
D WENDYS INTERNATIONAL COMMON 950590109 284 10000 SH 10000
D WESTCOAST ENERGY COMMON 95751D102 3815 195000 SH 195000
D WESTERN GAS RES INC C COMMON 958259103 131 17500 SH 17500
D WESTVACO CORP COMMON 961548104 315 15000 SH 15000
D WEYERHAEUSER CO COMMON 962166104 7980 143775 SH 138775 5000
D WITCO CHEM INC COMMON 977385103 126 10000 SH 10000
D XEROX CORP COMMON 984121103 6125 117500 SH 112500 5000
</TABLE>
