ANGELO GORDON & CO LP/NY
13F-HR, 1999-05-17
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                UNITED STATES SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                               Form 13F COVER PAGE

          Report for the Calendar Year or Quarter Ended: March 31, 1999
            Check here if Amendment [ ]; Amendment Number:___________

                        This Amendment (Check only one.):
                              [ ]  is a restatement.
                              [ ]  adds new holdings entries.

Institutional Investment Manager Filing this Report:

Name:             Angelo, Gordon & Co., L.P.
Address:          245 Park Avenue, 26th Floor
                  New York, New York  10167

Form 13F File Number:  28-2616

The institutional  investment  manager filing this report and the person by whom
it is signed hereby  represent  that the person signing the report is authorized
to  submit  it,  that all  information  contained  herein is true,  correct  and
complete,  and  that it is  understood  that  all  required  items,  statements,
schedules, lists, and tables, are considered integral parts of this form.

Person Signing this Report on Behalf of Reporting Manager:

Name:             Michael L. Gordon
Title:            Chief Operating Officer
Phone:            212-692-2000

Signature, Place, and Date of Signing:

/S/ MICHAEL L. GORDON
_____________________________________
[Signature]

New York, New York                                                     
_____________________________________
[City, State]

May      , 1999                                                        
_____________________________________
[Date]

Report Type (Check only one.):

   [X]   13F  HOLDINGS  REPORT.  (Check here if all  holdings of this  reporting
         manager are reported in this report.)

   [ ]   13F NOTICE. (Check here if no holdings reported are in this report, and
         all holdings are reported by other reporting manager(s).)

   [ ]   13F  COMBINATION  REPORT.  (Check here if a portion of the holdings for
         this  reporting  manager are  reported in this report and a portion are
         reported by other reporting manager(s).)



<PAGE>



                              Form 13F Summary Page

                                 Report Summary:

Number of Other Included Managers:

         0

Form 13F Information Table Entry Total:

         177

Form 13F Information Table Value Total:

             $ 1,432,385 (thousands)

List of Other Included Managers:

                  Provide  a  numbered  list of the  name(s)  and  Form 13F file
                  number(s)  of  all  institutional   investment  managers  with
                  respect to which this report is filed,  other than the manager
                  filing this report.


         NONE

<PAGE>



                                            FORM 13F INFORMATION TABLE
<TABLE>
<CAPTION>


                                                        Value                      Put/  Investment   Other           Voting
                                                                                                                    Authority
Name of Issuer                  Title of    CUSIP     (x$1000)    Shrs or   SH/PRN Call  Discretion  Managers   Sole   Share   None
- --------------                  --------    -----     --------    --------  ------ ----  ----------  --------   ----   -----   ----
                                 Class                            prn amt
                                 -----                            -------
<S>                              <C>       <C>          <C>       <C>          <C>       <C>         <C>    <C>        <C>     <C>
AEROQUIP-VICKERS INC             COM       007869100     18,311     319,500    SH        SOLE                 319,500     
AGOURON PHARM INC                COM       008488108     10,798     190,900    SH        SOLE                 190,900     
AIRTOUCH COMMUNICATIONS INC      COM       00949T100      1,768      18,300    SH        SOLE                  18,300     
AIRTOUCH COMMUNICATIONS INC      PFD C CV  00949T308    165,516   1,230,600    SH        SOLE               1,230,600     
AIRTOUCH COMMUNICATIONS INC      PFD B CV  00949T209     16,955     215,300    SH        SOLE                 215,300     
ALLEGHENY ENERGY INC             COM       017361106      8,809     298,600    SH        SOLE                 298,600     
ALLIANCE GAMING CORP             COM NEW   01859P609      1,342     235,914    SH        SOLE                 235,914     
ALZA CORP DEL                    SUB LYON  022615AC2      2,536   5,000,000    PRN       SOLE               5,000,000     
                                 ZERO 14                                                                                      
AMAZON.COM INC                   COM       023135106        603       3,500    SH        SOLE                   3,500     
AMERICA ONLINE INC DEL           COM       02364J104      2,132      14,600    SH        SOLE                  14,600     
AMERICAN BANKERS INS GROUP INC   PFD B CV  024456204     20,551     194,800    SH        SOLE                 194,800     
AMERICAN INDL PPTYS  REIT        COM NEW   026791202      1,041      89,540    SH        SOLE                  89,540     
AMERICAN RETIREMENT CORP         SB DB CV  028913AA9      1,041   1,250,000    PRN       SOLE               1,250,000     
AMERICAN STORES CO NEW           COM       030096101     26,687     808,700    SH        SOLE                 808,700     
AMERIN CORP                      COM       03070X106      1,915      94,300    SH        SOLE                  94,300     
AMERITECH CORP NEW               COM       030954101      2,819      48,700    SH        SOLE                  48,700     
AMGEN INC                        COM       031162100        240       3,200    SH        SOLE                   3,200     
AMP INC                          COM       031897101     35,810     667,000    SH        SOLE                 667,000     
ARCHITEL SYS CORP                COM       039917109      1,921     100,000    SH        SOLE                 100,000     
ASCEND COMM INC                  COM       043491109     48,622     581,000    SH        SOLE                 581,000     
ASTRA AB                         SPONSOR   046298105     16,621     724,600    SH        SOLE                 724,600     
                                 ADR A                                                                                           
AT HOME CORP                     COM SER A 045919107      1,133       7,200    SH        SOLE                   7,200
AT&T CORP                        COM       001957109        798      10,000    SH        SOLE                  10,000
AVISTA CORP                      COM       05379B107        813      50,000    SH        SOLE                  50,000
AVISTA CORP                      RECONS L  05379B503      5,300     309,500    SH        SOLE                 309,500
                                 1/10S
AXCESS INC                       COM       054546106        115      39,021    SH        SOLE                   39,021
BALLARD MED PRODS                COM       058566100     20,758     851,600    SH        SOLE                  851,600
BANKERS TR CORP                  COM       066365107     31,391     355,700    SH        SOLE                  355,700
BEA SYS INC                      SB NT CV  073325AA0      1,583   2,000,000    PRN       SOLE                2,000,000
                                 144A 05
BEC ENERGY                       COM       05538M101      8,170     222,300    SH        SOLE                  222,300
BROADCAST  COM INC               COM       111310108        284       2,400    SH        SOLE                    2,400
BROADCOM CORP                    CL  A     111320107        296       4,800    SH        SOLE                    4,800
BROWNING  FERRIS INDS            COM       115885105     22,698     588,600    SH        SOLE                  588,600
BUILDING ONE SVCS                COM       120114103      1,279      74,400    SH        SOLE                   74,400
CAPSTAR BROADCASTING CORP        CL  A     14067G105     11,246     490,300    SH        SOLE                  490,300
CASCADE NAT GAS CORP             COM       147339105      1,265      84,700    SH        SOLE                   84,700
CENTRAL HUDSON GAS & ELEC CORP   COM       153609102      3,596     100,400    SH        SOLE                  100,400
CILCORP INC                      COM       171794100      3,291      54,800    SH        SOLE                   54,800
CINERGY CORP                     COM       172474108      7,123     259,000    SH        SOLE                  259,000
CISCO SYS  INC                   COM       17275R102      1,857      16,949    SH        SOLE                   16,949
CITIZENS UTIL CO DEL             CL B      177342201      1,677     216,390    SH        SOLE                  216,390
CLECO CORP                       COM       12561M107      1,316      44,600    SH        SOLE                   44,600
CMP GROUP INC                    COM       125887109      2,745     149,400    SH        SOLE                  149,400
CMS ENERGY CORP                  COM CL G  125896209      1,547      74,100    SH        SOLE                   74,100
CMS ENERGY CORP                  COM       125896100     10,436     260,500    SH        SOLE                  260,500

<PAGE>  


                                                        Value                      Put/  Investment   Other           Voting
                                                                                                                    Authority
Name of Issuer                  Title of    CUSIP     (x$1000)    Shrs or   SH/PRN Call  Discretion  Managers  Sole   Share   None
- --------------                  --------    -----     --------    --------  ------ ----  ----------  --------  ----   -----   ----
                                 Class                            prn amt
                                 -----                            -------
<S>                              <C>       <C>           <C>      <C>          <C>       <C>         <C>     <C>      <C>     <C>

CNET INC                         SB NT CV  125945AA3      6,609   4,750,000    PRN       SOLE                4,750,000
                                 144A 06
COEUR D ALENE MINES CORP IDAHO   SB DB CV  192108AG3      2,000   3,500,000    PRN       SOLE                3,500,000
COEUR D'ALENE MINES CORP IDAHO   MARCS     192108207      4,117     672,200    SH        SOLE                  672,200
COLONIAL GAS CO                  COM       195674106      2,011      58,300    SH        SOLE                   58,300
COLUMBIA ENERGY GROUP            COM       197648108      4,363      83,500    SH        SOLE                   83,500
COMMONWEALTH  ENERGY SYS         COM SH    202800108      1,297      33,700    SH        SOLE                   33,700
                                 BEN INT
COMPAQ COMPUTER CORP             COM       204493100        539      17,000    SH        SOLE                   17,000
CONNECTICUT ENERGY CORP          COM       207567108        228       9,400    SH        SOLE                    9,400
CONSOLIDATED NAT GAS CO          COM       209615103      5,657     116,200    SH        SOLE                  116,200
COSTCO COMPANIES INC             SB NT CV  22160QAC6      8,029   8,000,000    PRN       SOLE                8,000,000
                                 ZERO 17
CTG RES INC                      COM       125957100      2,234      92,600    SH        SOLE                   92,600
DELL COMPUTER CORP.              COM       247025109        818      20,000    SH        SOLE                   20,000
DELTA & PINE LD CO               COM       247357106      6,719     218,500    SH        SOLE                  218,500
DPL INC                          COM       233293109        637      38,600    SH        SOLE                   38,600
DRS TECHNOLOGIES INC             SR SB DB  23330XAB6        249     250,000    PRN       SOLE                  250,000
                                 CV
DUKE ENERGY  CORP                COM       264399106      4,097      75,000    SH        SOLE                   75,000
E M C CORP  MASS                 COM       268648102        256       2,000    SH        SOLE                    2,000
EAGLE HARDWARE & GARDEN INC      COM       26959B101        764      20,000    SH        SOLE                   20,000
EAST WEST BANCORP INC            COM       27579R104     13,853   1,550,000    SH        SOLE                1,550,000
EASTERN ENTERPRISES              COM       27637F100      1,462      40,200    SH        SOLE                   40,200
EASTERN UTILS ASSOC              COM       277173100     35,385   1,249,800    SH        SOLE                1,249,800
EDISON INTL                      COM       281020107     11,081     498,000    SH        SOLE                  498,000
EL PASO ENERGY CORP DEL          COM       283905107      1,579      48,300    SH        SOLE                   48,300
ENVOY CORP NEW                   COM       293982104      6,418     145,800    SH        SOLE                  145,800
EQUITABLE RES INC                COM       294549100      1,574      60,400    SH        SOLE                   60,400
EXCITE INC                       COM       300904109     27,160     194,000    SH        SOLE                  194,000
EXECUTIVE RISK INC.              COM       301586103      9,159     129,000    SH        SOLE                  129,000
FIRST UN REAL EST EQ&MTG INVTS   PFD CONV  337400303        355      17,000    SH        SOLE                   17,000
                                 SER A
FIRST UN REAL EST EQ&MTG INVTS   SH BEN    337400105      1,484     339,200    SH        SOLE                  339,200
                                 INT
FOAMEX INTL INC                  COM       344123104      1,142     208,800    SH        SOLE                  208,800
FRONTIER CORPORATION             COM       35906P105     14,914     287,500    SH        SOLE                  287,500
GEOCITIES                        COM       37247V106     28,048     256,000    SH        SOLE                  256,000
GETCHELL GOLD CORPORATION        COM       374265106      6,712     256,300    SH        SOLE                  256,300
GREENPOINT FINANCIAL CORP        COM       395384100        869      25,000    SH        SOLE                   25,000
HOMEBASE INC                     SB NT CV  43738EAB4      4,845   6,250,000    PRN       SOLE                6,250,000
ILLINOVA CORP                    COM       452317100      2,797     132,000    SH        SOLE                  132,000
INTEGRATED CIRCUIT SYS INC       COM       45811K109      8,563     474,100    SH        SOLE                  474,100
INTEL CORP                       COM       458140100        701       5,900    SH        SOLE                    5,900
INTERLEAF INC NEW                COM NEW   458729209        673     211,048    SH        SOLE                  211,048
INTERSTATE ENERGY CORP WISE      COM       460845100        981      37,000    SH        SOLE                   37,000
K N ENERGY INC                   COM       482620101      8,920     447,400    SH        SOLE                  447,400
KANSAS CITY PWR & LT CO          COM       485134100      3,078     125,000    SH        SOLE                  125,000

<PAGE>


                                                        Value                      Put/  Investment   Other           Voting
                                                                                                                    Authority
Name of Issuer                  Title of    CUSIP     (x$1000)     Shrs or  SH/PRN Call  Discretion  Managers   Sole   Share   None
- --------------                  --------    -----     --------     -------- ------ ----  ----------  --------   ----   -----   ----
                                 Class                             prn amt
                                 -----                             -------
<S>                              <C>       <C>           <C>     <C>           <C>       <C>         <C>    <C>         <C>     <C>

KMART FING I                     PFD TRCV  498778208     44,794     740,400    SH        SOLE                  740,400
KNOLL INC                        COM       498904101      2,463     100,000    SH        SOLE                  100,000
LACLEDE GAS CO                   COM       505588103        643      30,700    SH        SOLE                   30,700
LEVEL ONE COMMUNICATIONS INC     COM       527295109     41,759     858,800    SH        SOLE                  858,800
LEVIATHAN GAS PIPELINE PARTNERS  COM       527367205        306      13,500    SH        SOLE                   13,500
LOCAL FINL CORP                  COM       539553107      6,984     750,000    SH        SOLE                  750,000
LORAL SPACE & COMMUNICATIONS     PFD CONV  G56462149      5,954     130,000    SH        SOLE                  130,000
                                 C
LUCASVARITY PLC                  SPONSORED 549395101     34,780     752,000    SH        SOLE                  752,000
                                 ADR
LYCOS INC                        COM       550818108        430       5,000    SH        SOLE                    5,000
MAGNA INTL INC                   SUB DEB   559222AE4     12,283  11,646,000    PRN       SOLE               11,646,000
                                 CV
MAINE PUB SVC CO                 COM       560483109        261      19,900    SH        SOLE                   19,900
MBL INTL FIN BERMUDA TR          GTD NT    55262XAA2        563     500,000    PRN       SOLE                  500,000
                                 EXCH
MCI WORLDCOM INC                 COM       55268B106      1,461      16,500    SH        SOLE                   16,500
MEDIAONE GROUP INC               COM       58440J104     16,891     266,000    SH        SOLE                  266,000
MEDICAL TECHNOLOGY & INNOVATNS   COM       58462M100         91     604,000    SH        SOLE                  604,000
MERCK & CO INC                   COM       589331107        802      10,000    SH        SOLE                   10,000
METRICOM INC                     SB NT     591596AC5        290     500,000    PRN       SOLE                  500,000
                                 CONV
MICROSOFT CORP.                  COM       594918104      3,083      34,400    SH        SOLE                   34,400
MINNESOTA PWR INC                COM       604110106      1,975     100,000    SH        SOLE                  100,000
NATIONAL FUEL GAS CO             COM       636180101      4,282     109,100    SH        SOLE                  109,100
NEVADA POWER CO                  COM       641423108      5,886     237,800    SH        SOLE                  237,800
NEW CENTURY ENERGIES INC         COM       64352U103      3,055      89,700    SH        SOLE                   89,700
NEW ENGLAND ELEC SYS             COM       644001109     22,494     463,800    SH        SOLE                  463,800
NEW WORLD COFFEE & BAGELS INC    COM       648904100        122     122,027    SH        SOLE                  122,027
NEWPORT NEWS SHIPBUILDING INC    COM       652228107      1,268      40,000    SH        SOLE                   40,000
NEXSTAR PHARMACEUTICALS INC      SB DB CV  65333BAC0      8,895   7,500,000    PRN       SOLE                7,500,000
NEXSTAR PHARMACEUTICALS INC      COM       65333B106      5,382     315,400    SH        SOLE                  315,400
NINE WEST GROUP INC              COM       65440D102      7,754     314,100    SH        SOLE                  314,100
NORTH CAROLINA NAT GAS CORP      COM       658221106      1,324      43,600    SH        SOLE                   43,600
NORTHEAST UTILS                  COM       664397106      2,167     156,200    SH        SOLE                  156,200
ORACLE CORP                      COM       68389X105        249       9,450    SH        SOLE                    9,450
ORANGE & ROCKLAND UTILS INC      COM       684065105      5,324      92,700    SH        SOLE                   92,700
PACIFICORP                       COM       695114108      4,787     277,500    SH        SOLE                  277,500
PECO ENERGY CO                   COM       693304107     19,827     428,700    SH        SOLE                  428,700
PENNSYLVANIA ENTERPRISES INC     COM       708720107        670      27,900    SH        SOLE                   27,900
PEOPLES ENERGY CORP              COM       711030106      2,010      62,200    SH        SOLE                   62,200
PHARMERICA INC                   COM       717135107      1,778     355,500    SH        SOLE                  355,500
PHYMATRIX CORP                   SB DB CV  718925AC4        125     230,000    PRN       SOLE                  230,000
PINNACLE WEST CAP CORP           COM       723484101      9,396     258,300    SH        SOLE                  258,300
PIONEER HI  BRED INTL INC        COM       723686101     15,050     400,000    SH        SOLE                  400,000
PLATINUM TECHNOLOGY INTL INC     SB NT CV  72764TAD3      8,304   8,500,000    PRN       SOLE                8,500,000
PLATINUM TECHNOLOGY INTL INC     COM       72764T101     12,195     480,000    SH        SOLE                  480,000
PLATINUM TECHNOLOGY INTL INC     SB NT CV  72764TAA9      4,093   2,200,000    PRN       SOLE                2,200,000

<PAGE>


                                                       Value                       Put/  Investment   Other           Voting
                                                                                                                    Authority
Name of Issuer                  Title of    CUSIP     (x$1000)    Shrs or   SH/PRN Call  Discretion  Managers   Sole   Share   None
- --------------                  --------    -----     --------    --------  ------ ----  ----------  --------   ----   -----   ----
                                 Class                            prn amt
                                 -----                            -------
<S>                              <C>       <C>          <C>      <C>          <C>        <C>         <C>     <C>        <C>     <C>
PROVIDENCE ENERGY CORP           COM       743743106       809      44,000    SH         SOLE                   44,000
PUBLIC SVC CO N C INC            COM       744516105     2,979     105,000    SH         SOLE                  105,000
PUBLIC SVC CO N  MEX             COM       744499104     3,643     214,300    SH         SOLE                  214,300
PUBLIC SVC ENTERPRISE GROUP      COM       744573106     3,330      87,200    SH         SOLE                   87,200
QUESTAR CORP                     COM       748356102     1,016      60,000    SH         SOLE                   60,000
QUICKTURN DESIGN SYS INC         COM       74838E102     7,492     530,420    SH         SOLE                  530,420
QUINTILES TRANSNATIONAL CORP     SB NT CV  748767AC4     1,041   1,000,000    PRN        SOLE                1,000,000
QWEST COMMUNICATIONS INTL INC    COM       749121109       238       3,300    SH         SOLE                    3,300
READERS DIGEST AUTO COM EXCH     TRACES    755271202    15,608     518,100    SH         SOLE                  518,100
RELIANT ENERGY INC               COM       75952J108     6,956     266,900    SH         SOLE                  266,900
REPTRON ELECTRONICS  INC         SB NT CV  76026WAA7     1,695   3,600,000    PRN        SOLE                3,600,000
ROCHESTER GAS & ELEC CORP        COM       771367109     1,484      57,900    SH         SOLE                   57,900
SBC COMMUNICATIONS INC           DECS      78387G202    46,649     804,300    SH         SOLE                  804,300
SEPRACOR INC                     SB DB CV  817315AE4    36,920  15,000,000    PRN        SOLE               15,000,000
SIGCORP INC                      COM       826912107       761      27,800    SH         SOLE                   27,800
SJW CORP                         COM       784305104       259       4,000    SH         SOLE                    4,000
SONAT INC                        COM       835415100    22,404     746,800    SH         SOLE                  746,800
SOUTH JERSEY INDS INC            COM       838518108     1,172      54,200    SH         SOLE                   54,200
SOUTHERN CO                      COM       842587107     5,420     232,500    SH         SOLE                  232,500
SOUTHWEST GAS CORP               COM       844895102     3,438     125,000    SH         SOLE                  125,000
SPORTS AUTH INC                  SB NT CV  849176AC6     1,441   2,000,000    PRN        SOLE                2,000,000
SUN MICROSYSTEMS INC.            COM       866810104       325       2,600    SH         SOLE                    2,600
SUNBEAM CORP                     SRSDCV    867071AA0     4,813  42,000,000    PRN        SOLE               42,000,000
                                 ZRO144A18
SUNBEAM CORP                     PUT       867071952     1,279     230,000    SH   PUT   SOLE                  230,000
SUNDSTRAND CORP                  COM       867323107    21,434     308,400    SH         SOLE                  308,400
TESORO PETE CORP                 PIES CV   881609408     2,550     213,600    SH         SOLE                  213,600
                                 1/100S
TEXAS UTILS CO                   COM       882848104    11,310     271,300    SH         SOLE                  271,300
TIG HLDGS INC                    COM       872469101    14,027     859,900    SH         SOLE                  859,900
TNP ENTERPRISES INC              COM       872594106     2,490      86,600    SH         SOLE                   86,600
TOWER AUTOMOTIVE INC             SB NT CV  891707AE1     2,375   2,500,000    PRN        SOLE                2,500,000
TOWER REALTY TRUST INC           COM       89185E109     4,710     248,700    SH         SOLE                  248,700
TRANSAMERICA CORP                COM       893485102    39,355     554,300    SH         SOLE                  554,300
TRIATHALON BROADCASTING CO       PFD1/     89589P304       210      20,000    SH         SOLE                   20,000
                                 10MAN CV
U S DIAGNOSTIC  INC              SUB DB    90328QAB4     2,627   3,835,000    PRN        SOLE                3,835,000
                                 CONV
UGI CORP NEW                     COM       902681105     2,179     130,600    SH         SOLE                  130,600
UNICOM CORP                      COM       904911104    12,695     347,200    SH         SOLE                  347,200
UNISOURCE ENERGY CORP            COM       909205106     1,344     121,500    SH         SOLE                  121,500
UNITED STATES  FILTER CORP NEW   COM NEW   911843209    24,561     802,000    SH         SOLE                  802,000
VALLEY RES INC                   COM       920062106       166      15,800    SH         SOLE                   15,800
WARNER LAMBERT CO                PUT       934488957     9,425     142,400    SH   PUT   SOLE                  142,400
WASHINGTON GAS LT CO             COM       938837101     2,296     101,500    SH         SOLE                  101,500
WELLSFORD REAL PPTYS INC         COM       950240101     1,567     179,040    SH         SOLE                  179,040
WESTERN DIGITAL CORP             SB DB CV  958102AH8     2,196  10,000,000    SH         SOLE               10,000,000
                                 ZERO 18
WICOR INC                        COM       929253102     1,193      58,900    SH         SOLE                   58,900
XYLAN CORP                       COM       984151100     9,277     252,000    SH         SOLE                  252,000
YAHOO  INC                       COM       984332106     1,231       7,313    SH         SOLE                    7,313
YANKEE ENERGY SYS INC            COM       984779108       613      26,600    SH         SOLE                   26,600

</TABLE>



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