UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: 6/30/2000
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: OFFITBANK
Address: 520 Madison Avenue, New York, New York 10022
Form 13F File Number: 28-6928
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:
Reporting Manager:
Name: Stephen B. Wells
Title: Managing Director
Phone: (212)350-3807
Signature, Place, and Date of Signing:
/s/ Stephen B. Wells
-----------------------
New York, New York
July 24, 2000
Report Type (Check only one):
[X] 13F HOLDINGS REPORT
[ ] 13F NOTICE
[ ] 13F COMBINATION REPORT
1
<PAGE>
Form 13F Summary Page
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 512
Form 13F Information Table Value Total: $ 197,496,000 (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.
No. NONE
2
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<TABLE>
<CAPTION>
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(ITEM 1:) (ITEM 2) (ITEM 3) (ITEM 4) (ITEM 5) (ITEM 6) (ITEM 7) (ITEM 8)
INVESTMENT DISCRETION VOTING AUTHORITY
TITLE FAIR SHARES OR PUT/ SOLE SHARE-AS SHARED- SOLE SHARED NONE
OF MARKET PRINCIPAL CALL DEFINED IN OTHER
NAME OF ISSUER CLASS CUSIP NO. VALUE AMOUNT INSTR.V
(IN THOUSANDS) (A) (B) (C) (A) (B) (C)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
------------------------------------------------------------------------------------------------------------------------------------
ABBOTT LABS COMMON 2824100 1488000 33,580 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ACT MANUFACTURING INC COMMON 973107 49000 1,100 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ACXIOM CORP COMMON 5125109 63000 2,200 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ADOBE SYS INC COMMON 00724F101 64000 500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ADVANCED ENERGY INDS INC COMMON 7973100 35000 600 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ADVANCED MICRO DEVICES INC COMMON 7903107 362000 4,300 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
AEGON N V ORD AMER REG 7924103 142000 4,074 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
AES CORP COMMON 00130H105 254000 5,400 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
AETNA INC COMMON 8117103 456000 7,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
AGILENT TECHNOLOGIES INC COMMON 00846U101 100000 1,362 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ALAMO GROUP INC COMMON 11311107 137000 11,200 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ALBERTSONS INC COMMON 13104104 214000 6,400 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ALCOA INC COMMON 13817101 155000 5,200 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ALDILA INC COMMON 14384101 3000 1,700 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ALLSTATE CORP COMMON 20002101 149000 6,333 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ALLSTATE FINANCING I PFD 7.950% 20013207 47000 2,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ALTERA CORP COMMON 21441100 232000 2,200 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ALZA CORP COMMON 22615108 454000 7,590 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
AMC ENTMT INC COMMON 1669100 83000 20,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
AMERCO INC SER A PFD 8.500% 23586209 25000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
AMERICA ONLINE INC COMMON 02364J104 461000 8,600 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
AMERICAN ELEC PWR INC COMMON 25537101 74000 2,400 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
AMERICAN EXPRESS CO COMMON 25816109 244000 4,665 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
AMERICAN GENL CAP PFD 8.125% 02637F301 24000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
AMERICAN GREETINGS CORP COMMON CL A 26375105 203000 10,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
AMERICAN HOME PRODS CORP COMMON 26609107 392000 6,690 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
AMERICAN INTL GROUP INC COMMON 26874107 1601000 13,514 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
AMERICREDIT CORP COMMON 03060R101 18000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
AMFM INC COMMON 1693100 89000 1,300 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
AMP INC COMMON 31897101 31000 500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
AMPHENOL CORP NEW CL A COMMON 32095101 81000 1,200 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
AMSOUTH BANCORPORATION COMMON 32165102 579000 34,844 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ANNTAYLOR STORES CORP COMMON 36115103 57000 1,800 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ANTARCTICA DO NORDESTE-PREF 2039615 368000 2,781,721 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
APACHE CORP 37411105 137000 2,300 X 0 0 X 0 0
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1
<PAGE>
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(ITEM 1:) (ITEM 2) (ITEM 3) (ITEM 4) (ITEM 5) (ITEM 6) (ITEM 7) (ITEM 8)
INVESTMENT DISCRETION VOTING AUTHORITY
TITLE FAIR SHARES OR PUT/ SOLE SHARE-AS SHARED- SOLE SHARED NONE
OF MARKET PRINCIPAL CALL DEFINED IN OTHER
NAME OF ISSUER CLASS CUSIP NO. VALUE AMOUNT INSTR.V
(IN THOUSANDS) (A) (B) (C) (A) (B) (C)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
------------------------------------------------------------------------------------------------------------------------------------
APPLE COMPUTER INC COMMON 37833100 181000 3,400 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
APPLIED MATERIALS INC COMMON 38222105 518000 5,600 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ARCHER DANIELS MIDLAND CO COMMON 39483102 150000 15,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
AREMISSOFT CORP DEL COMMON 40026106 58000 1,900 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ARMSTRONG HLDGS INC COMMON 42384107 116000 7,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ASM INTL N V ORD COMMON N0704510 18000 700 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ASSOCIATES FIRST CAP CORP CL A COMMON 46008108 113000 5,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
AT & T CORP COMMON 1957109 105000 3,239 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
AT&T CORP-LIBERTY MEDIA CL A COMMON 1957208 530000 21,086 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ATLAS AIR INC COMMON 49164106 43000 1,200 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ATMEL CORP COMMON 49513104 632000 16,200 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
AUTOLIV INC COMMON 5.28E+07 52000 2,128 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
AUTOMATIC DATA PROCESSING COMMON 53015103 157000 3,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
AVERY DENNISON CORP COMMON 53611109 622000 9,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
BANCO GALICIA BUENOS AIRES SPONS ADR 59538207 1128000 76,151 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
BANCO ITAU S.A. LOCAL PN 2459581 1916000 21,530 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
BANK AMER CORP COMMON 60505104 690000 15,332 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
BANK OF AMERICA CORP COMMON 60505104 439000 9,750 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
BANK OF NEW YORK INC COMMON 64057102 486000 10,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
BANK ONE CORP COMMON NEW 06423A103 875000 30,764 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
BANK UNITED TEXAS PFD 10.120 SER 65414203 13000 500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
BARBEQUES GALORE LTD SPONS ADR 67091108 45000 5,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
BELL ATLANTIC CORP COMMON 77853109 413000 8,106 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
BELLSOUTH CORP COMMON 79860102 247000 5,680 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
BERKSHIRE HATHAWAY INC CL B COMMON 84670207 263000 150 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
BERKSHIRE HATHAWAY INC DEL CL A COMMON 84670108 322000 6 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
BESTFOODS COMMON 08658U101 450000 6,498 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
BJS WHSL CLUB INC COMMON 05548J106 79000 2,400 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
BOSTON CELTICS LTD PTRSP COMMON 100576107 0 50 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
BOTTS NOMINEE - BOTTS 999999999 447000 447,099 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
BP AMOCO PLC ADR SPONSORED 55622104 864000 14,814 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
BRADESCO LOCAL PN 2074520 800000 90,414 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
BRADY ENERGY CORP PFD SER B 104686308 0 30 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
BRINKER INTL INC COMMON 109641100 61000 2,100 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
BRISTOL-MYERS SQUIBB CO COMMON 110122108 319000 5,525 X 0 0 X 0 0
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2
<PAGE>
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(ITEM 1:) (ITEM 2) (ITEM 3) (ITEM 4) (ITEM 5) (ITEM 6) (ITEM 7) (ITEM 8)
INVESTMENT DISCRETION VOTING AUTHORITY
TITLE FAIR SHARES OR PUT/ SOLE SHARE-AS SHARED- SOLE SHARED NONE
OF MARKET PRINCIPAL CALL DEFINED IN OTHER
NAME OF ISSUER CLASS CUSIP NO. VALUE AMOUNT INSTR.V
(IN THOUSANDS) (A) (B) (C) (A) (B) (C)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
------------------------------------------------------------------------------------------------------------------------------------
BROCADE COMMUNICATIONS SYS I COMMON 111621108 302000 1,700 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
BT PFD CAP TRUST I PFD 8.125% 55839203 24000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
BUCKEYE TECHNOLOGIES INC COMMON 118255108 25000 1,100 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CALIFORNIA COASTAL CMNTYS IN COMMON 129915203 0 0 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CAPITAL SOUTHWEST CORP COMMON 14050110 234000 3,800 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CARDINAL HEALTH INC COMMON 14149Y108 89000 1,200 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CARSO GLOBAL TELECOM LOCAL SER A1 2178336 734000 237,168 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CATELLUS DEV CORP COMMON 149111106 216000 13,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CATERPILLAR INC COMMON 149123101 173000 4,798 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CBRL GROUP INC COMMON 12489V106 147000 10,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CELLCOM CORP NEW COMMON 151154309 1000 2,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CEMEX SA SPONS ADR
REPRESENTS 5 CP 151290889 2364000 97,214 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CENDANT CORP COMMON 151313103 183000 12,400 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CENTAUR FUNDING CORP PFD 9.08%
04/21/20 144A 151327202 12240000 120,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CENTEX CORP COMMON 152312104 103000 4,200 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CHASE MANHATTAN CORP NEW COMMON 16161A108 747000 15,714 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CHASE MANHATTAN CORP NEW PFD C 10.84% 16161A884 14000 500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CHASE PFD CAP CORP PFD 8.10% 161637202 24000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CHUBB CORP COMMON 171232101 188000 3,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CIA ENERGETICA DE BRASILIA ON 2181185 21000 2,220 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CIA PARANAENSE DE ENERGIA PN B 2200154 410000 42,900 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CIA SIDERURGICA NATL LOCAL ON 2210261 867000 25,901 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CIENA CORP COMMON 171779101 236000 1,380 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CINTAS CORP COMMON 172908105 61000 1,500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CIRCUIT CITY STORE INC COMMON 172737108 318000 9,475 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CISCO SYSTEMS INC COMMON 17275R102 1875000 29,018 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CITIGROUP INC COMMON 172967101 2508000 40,171 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CLEAR CHANNEL COMM COMMON 184502102 87000 1,182 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CLEVELAND ELEC ILLUM CO PFD $90 SER S 186108676 150000 148 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CMGI INC COMMON 125750109 69000 1,500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CNF TRANSPORTATION INC COMMON 12612W104 62000 2,500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
COASTAL CORP COMMON 190441105 151000 2,500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
COCA COLA CO COMMON 191216100 756000 13,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
COCA COLA ENTERPRISES INC COMMON 191219104 189000 11,200 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
COGNOS INC COMMON 19244C109 24000 600 X 0 0 X 0 0
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3
<PAGE>
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(ITEM 1:) (ITEM 2) (ITEM 3) (ITEM 4) (ITEM 5) (ITEM 6) (ITEM 7) (ITEM 8)
INVESTMENT DISCRETION VOTING AUTHORITY
TITLE FAIR SHARES OR PUT/ SOLE SHARE-AS SHARED- SOLE SHARED NONE
OF MARKET PRINCIPAL CALL DEFINED IN OTHER
NAME OF ISSUER CLASS CUSIP NO. VALUE AMOUNT INSTR.V
(IN THOUSANDS) (A) (B) (C) (A) (B) (C)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
------------------------------------------------------------------------------------------------------------------------------------
COLGATE PALMOLIVE CO COMMON 194162103 114000 1,900 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
COMC INC COMMON 12614F109 0 100 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
COMCAST CORP SPCL CL A COMMON 200300200 103000 2,500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
COMDISCO INC COMMON 200336105 93000 4,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
COMED FINANCING I PFD 8.480% 20033V209 23000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
COMERICA INC COMMON 200340107 514000 11,074 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
COMPANHIA SIDERURGICA NACL COMMON 20440W105 420000 12,600 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
COMPAQ COMPUTER CORP COMMON 204493100 88000 3,500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
COMPUTER ASSOCIATE INTL INC COMMON 204912109 187000 3,650 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
COMPUTER SCIENCES CORP COMMON 205363104 147000 2,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CON EDISON OF NY PFD 7.750% 209111848 23000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CONCORD EFS INC COMMON 206189102 27000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CONCORD EFS INC COMMON 206197105 3000 100 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CONOCO INC CL A COMMON 208251306 11000 500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CONOCO INC CL B COMMON 208251405 352000 14,147 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CORP INTERAMERICANA CL B COMMON 2224347 659000 156,939 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
COVAD COMMUNICATIONS GROUP CL B COMMON 222814204 17000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CROWN CORK & SEAL INC CL B COMMON 228255105 168000 11,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CVRD CL B COMMON 2257127 2469000 87,900 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CVS CORP CL B COMMON 126650100 26000 664 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CYPRESS SEMICONDUCTOR CORP CL B COMMON 232806109 61000 1,400 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
CYTEC INDS INC CL B COMMON 23282010 128000 5,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
D R HORTON INC CL B COMMON 23331A109 180000 12,600 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
DANAHER CORP CL B COMMON 235851102 50000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
DARDEN RESTAURANTS INC CL B COMMON 237194105 36000 2,200 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
DELL COMPUTER CORP CL B COMMON 247025109 196000 4,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
DELPHI AUTOMOTIVE SYS CORP CL B COMMON 247126105 0 - X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
DENDRITE INTL INC CL B COMMON 248239105 13000 400 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
DEVON ENERGY CORP CL B COMMON 25179M103 95000 1,700 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
DIAL CORP CL B COMMON 25247D101 104000 10,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
DILLARDS INC CL A COMMON 254067101 269000 21,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
DIME BANCORP INC NEW CL A COMMON 25429Q102 83000 5,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
DITECH COMM CORP CL A COMMON 25500M103 83000 900 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
DOLE FOOD INC CL A COMMON 256605106 95000 6,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
DONNELLEY R R & SONS CO CL A COMMON 257867101 220000 9,400 X 0 0 X 0 0
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4
<PAGE>
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(ITEM 1:) (ITEM 2) (ITEM 3) (ITEM 4) (ITEM 5) (ITEM 6) (ITEM 7) (ITEM 8)
INVESTMENT DISCRETION VOTING AUTHORITY
TITLE FAIR SHARES OR PUT/ SOLE SHARE-AS SHARED- SOLE SHARED NONE
OF MARKET PRINCIPAL CALL DEFINED IN OTHER
NAME OF ISSUER CLASS CUSIP NO. VALUE AMOUNT INSTR.V
(IN THOUSANDS) (A) (B) (C) (A) (B) (C)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
------------------------------------------------------------------------------------------------------------------------------------
DOUBLECLICK INC CL A COMMON 258609304 20000 500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
DOVER CORP CL A COMMON 260003108 223000 5,300 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
DOW CHEMICAL CL A COMMON 260543103 787000 24,600 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
DTE ENERGY CO CL A COMMON 233331107 31000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
DU PONT E I DE NEMOURS CL A COMMON 263534109 254000 5,651 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
DUKE ENERGY CORP CL A COMMON 264399106 258000 4,475 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
DYNEGY INC NEW CL A COMMON 26816Q101 84000 1,200 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
E-SYNC NETWORKS INC CL A COMMON 269156105 177000 30,400 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
EASTERN AIR LINE CL A COMMON 276191863 0 2,037 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
EASTERN STAINLESS CORP CL A COMMON 277044202 0 88 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
EASTMAN KODAK CO CL A COMMON 277461109 586000 9,746 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
EATON CORP CL A COMMON 278058102 330000 4,720 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
EL PASO ENERGY CORP DEL CL A COMMON 283905107 132000 2,600 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ELECTRO SCIENTIFIC INDS INC CL A COMMON 285229100 31000 700 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ELECTRONIC DATA SYS CORP CL A COMMON 285661104 266000 6,500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
EMBRATEL PARTICIPACOE-PREF CL A COMMON 2292559 1709000 70,330 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
EMBRATEL PARTICIPACOES S A CL A COMMON 29081N100 569000 23,350 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
EMC CORP/MASS CL A COMMON 268648102 977000 12,660 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
EMERSON ELEC CO COMMON 291011104 602000 9,900 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ENGELHARD CORP COMMON 292845104 155000 8,424 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ENHANCE FINL SVCS GROUP INC COMMON 293310108 334000 23,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ENRON CORP COMMON 293561106 307000 4,520 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ENSCO INTL INC COMMON 26874Q100 110000 3,100 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ENZO BIOCHEM INC COMMON 294100102 504000 7,119 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
EOG RES INC COMMON 26875P101 56000 1,700 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
EQUITABLE RESOURCES INC COMMON 294549100 34000 700 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
EQUITY RESIDENT PROP COMMON 29476L305 24000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
EXODUS COMMUNICATIONS INC COMMON 302088109 150000 3,400 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
EXXON MOBIL CORP COMMON 30231G102 1511000 19,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
FABRICA TECIDO RENAUX COMMON 2329974 530000 1,588,755 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
FACTORY CARD OUTLET CORP COMMON 30305310 0 4,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
FAIRCHILD SEMICONDUCTOR INTL COMMON 303726103 100000 2,500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
FED DEPT STORES COMMON 31410H127 7000 749 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
FEDERAL NATL MTG ASSN COMMON 313586109 64000 1,200 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
FEDERATED DEPT STORES INC COMMON 31410H107 19000 550 X 0 0 X 0 0
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5
<PAGE>
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(ITEM 1:) (ITEM 2) (ITEM 3) (ITEM 4) (ITEM 5) (ITEM 6) (ITEM 7) (ITEM 8)
INVESTMENT DISCRETION VOTING AUTHORITY
TITLE FAIR SHARES OR PUT/ SOLE SHARE-AS SHARED- SOLE SHARED NONE
OF MARKET PRINCIPAL CALL DEFINED IN OTHER
NAME OF ISSUER CLASS CUSIP NO. VALUE AMOUNT INSTR.V
(IN THOUSANDS) (A) (B) (C) (A) (B) (C)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
------------------------------------------------------------------------------------------------------------------------------------
FEDERATED DEPT STORES INC COMMON 31410H101 44000 1,299 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
FEDEX CORP COMMON 31428X106 119000 3,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
FEDL HOME LN MTG CORP COMMON 313400301 15000 355 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
FIFTH THIRD BANCORP COMMON 316773100 207000 3,170 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
FILENET CORP COMMON 316869106 34000 1,900 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
FINOVA GROUP INC COMMON 317928109 175000 12,300 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
FIRST AMERICAN FINL CORP COMMON 318522307 289000 18,500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
FIRST DATA CORP COMMON 319963104 146000 2,900 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
FIRST HEALTH GROUP CORP COMMON 320960107 48000 1,500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
FIRST PHILIPPINE HOLDGS COMMON 6339979 11000 12,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
FIRST TENN NATL CORP COMMON 337162101 72000 3,900 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
FIRST TENN NATL CORP COMMON 337162101 436000 23,734 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
FIRST UNION CORP COMMON 337358105 466000 17,787 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
FISHER COS INC COMMON 337756209 2306000 32,024 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
FLEETBOSTON FINL CORP COMMON 339030108 613000 17,199 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
FLEXTRONICS INTL LTD COMMON 2353058 167000 2,900 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
FOOTSTAR INC COMMON 344912100 305000 9,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
FORD MOTOR COMPANY COMMON 345370100 35000 800 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
FOUNDATION HEALTH SYS INC COMMON 350404109 208000 15,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
FREEPORT MCMORAN COPPER CL A COMMON 35671D105 70000 7,600 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
FREMONT GEN FING I PFD 9% 356905208 16000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
G&G RETAIL-WT06 WTS EXP 05/15/0 36146P111 0 2,500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GALACTIC RESOURCES LTD COMMON 362903106 0 1,500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GALILEO INTL INC COMMON 363547100 182000 9,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GALILEO TECHNOLOGY LTD COMMON M47298100 14000 600 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GALILEO TECHNOLOGY LTD COMMON M4729810 14000 600 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GANNETT INC COMMON 364730101 482000 8,032 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GARDNER NOMINEE-GARDNER 999999999 1678000 18,238 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GATX CORP COMMON 361448103 143000 4,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GENENTECH INC COMMON NEW 368710406 170000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GENERAL ELEC CO COMMON 369604103 5091000 97,908 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GENERAL GROWTH PPTYS INC REIT 370021107 163000 5,100 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GENERAL MILLS INC COMMON 370334104 191000 5,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GENERAL MTRS CORP CL H COMMON NEW 370442832 282000 9,900 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GENERAL MTRS CORP COMMON 370442105 113000 1,900 X 0 0 X 0 0
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6
<PAGE>
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(ITEM 1:) (ITEM 2) (ITEM 3) (ITEM 4) (ITEM 5) (ITEM 6) (ITEM 7) (ITEM 8)
INVESTMENT DISCRETION VOTING AUTHORITY
TITLE FAIR SHARES OR PUT/ SOLE SHARE-AS SHARED- SOLE SHARED NONE
OF MARKET PRINCIPAL CALL DEFINED IN OTHER
NAME OF ISSUER CLASS CUSIP NO. VALUE AMOUNT INSTR.V
(IN THOUSANDS) (A) (B) (C) (A) (B) (C)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
------------------------------------------------------------------------------------------------------------------------------------
GENUINE PARTS CO COMMON 372460105 66000 3,150 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GENZYME CORP-GEN DIV COMMON 372917104 366000 6,200 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GEORGIA PAC CORP COMMON 37329810 147000 5,400 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GERDAU S.A. LOCAL PN 2160407 431000 35,200 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GILLETTE CO COMMON 375766102 251000 7,300 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GLOBAL CROSSING LTD COMMON G3921A100 166000 6,213 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GLOBO CABO SA SPONS ADR 37957X102 752000 53,390 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GOLDFIELDS LIMITED COMMON 6370008 0 57 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GOLDMAN SACHS GROUP INC COMMON 38141G104 85000 900 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GOODYEAR TIRE & RUBR COMMON 382550101 10000 500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GRANT PRIDECO INC COMMON 38821G101 98000 3,900 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GREAT ATLANTIC & PAC TEA COMMON 390064103 3000 150 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GREAT LAKES CHEM CORP COMMON 390568103 239000 7,500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GRUPO ELEKTRA S.A. SPONS GDR 40050A102 470000 42,950 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GRUPO FINANCIERO BANAMEX LOCAL O 2401300 432000 99,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GRUPO INDUSTRIAL BIMBO LOCAL A 2392471 74000 46,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GRUPO MODELO S.A. LOCAL C 2380539 687000 301,600 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GRUPO TELEVISA S.A. DE C.V. SPONS ADR 40049J206 2162000 29,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GTE CORP COMMON 362320103 307000 4,938 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GUESS INC COMMON 401617105 28000 2,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GUEST SUPPLY INC COMMON 401630108 3000 150 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
GUIDANT CORP COMMON 401698105 217000 4,600 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
HANNAFORD BROS CO COMMON 410550107 1039000 14,400 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
HARRIS CORP COMMON 413875105 101000 3,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
HARTFORD CAP I PFD SER A 7.7% 416315208 23000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
HARTFORD FINL SVCS GRP COMMON 416515104 317000 5,600 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
HAYES LEMMERZ INTL INC COMMON 420781106 25000 2,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
HEALTHGRADES COM INC COMMON 42222R104 2000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
HEALTHSOUTH CORP COMMON 421924101 152000 21,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
HELMERICH & PAYNE COMMON 423452101 39000 1,100 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
HERSHEY FOODS CORP COMMON 427866108 72000 1,500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
HEWLETT PACKARD CO COMMON 428236103 577000 4,646 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
HILLS STORES CO DEFERRED CONT
CASH RT 431COM990 0 2,692 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
HILLS STORES CO PFD CONV DEFERRED CONT
CASH RT 431PFD990 0 2,899 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
HOME DEPOT INC COMMON 437076102 8288000 166,800 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
7
<PAGE>
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(ITEM 1:) (ITEM 2) (ITEM 3) (ITEM 4) (ITEM 5) (ITEM 6) (ITEM 7) (ITEM 8)
INVESTMENT DISCRETION VOTING AUTHORITY
TITLE FAIR SHARES OR PUT/ SOLE SHARE-AS SHARED- SOLE SHARED NONE
OF MARKET PRINCIPAL CALL DEFINED IN OTHER
NAME OF ISSUER CLASS CUSIP NO. VALUE AMOUNT INSTR.V
(IN THOUSANDS) (A) (B) (C) (A) (B) (C)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
------------------------------------------------------------------------------------------------------------------------------------
HONEYWELL INTL INC COMMON 438516106 7000 200 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
HONEYWELL INTL INC COMMON 438516106 38000 1,111 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
I2 TECHNOLOGIES INC COMMON 465754109 12000 120 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ICN PHARMACEUTICAL INC NEW COMMON 448924100 74000 2,600 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
IKON OFFICE SOLUTIONS INC COMMON 451713101 63000 15,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ILLINOIS TOOL WKS INC COMMON 452308109 123000 2,100 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ILUKA RESOURCES LTD COMMON 6957575 0 91 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
IMC GLOBAL INC COMMON 449669100 111000 8,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
IMMUNEX CORP NEW COMMON 452528102 224000 4,199 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
IMS HEALTH INC COMMON 449934108 91000 5,500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
INFINITY BROADCASTING CORP CL A COMMON 45662S102 108000 3,100 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
INGRAM MICRO INC CL A COMMON 457153104 40000 2,300 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
INTEGRATED DEVICE TECH INC COMMON 458118106 161000 2,600 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
INTEL CORP COMMON 458140100 2071000 15,130 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
INTERDIGITAL COMM GROUP RESTRICTED 45866A105 85000 5,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
INTERNET CAPITAL GROUP INC COMMON 46059C106 35000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
INTERNET.COM CORP COMMON 460967102 19000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
INTERSIL HLDG CORP CL A COMMON 46069S109 48000 900 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
INTIMATE BRANDS INC CL A COMMON 4.61E+08 87000 4,400 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
INTL BUSINESS MACHINES COMMON 459200101 4797000 43,812 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
INTL BUSINESS MACHINES PFD 7.500% 459200309 25000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
INTL CABLETEL WTS 459216115 0 210 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
INTL GAME TECHNOLOGY COMMON 459902102 137000 5,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
INTUIT INC COMMON 461202103 20000 500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
IT GROUP INC CONV PFD 7.00% 465266302 39000 2,500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ITT INDUSTRIES INC COMMON 450911102 68000 2,100 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
JDS UNIPHASE CORP COMMON 46612J101 539000 4,207 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
JOHNSON & JOHNSON COMMON 478160104 3396000 33,599 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
JPS TEXTILES GRP INC CL A 0 720 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
JUNIPER NETWORKS INC COMMON 48203R104 203000 1,400 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
K MART CORP COMMON 482584109 126000 18,500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
KENDLE INTL INC COMMON 48880L107 154000 21,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
KERR MCGEE CORP COMMON 492386107 139000 2,300 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
KEY ENERGY SVCS INC COMMON 492914106 36000 3,700 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
KEYCORP 493267108 462000 24,532 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
8
<PAGE>
------------------------------------------------------------------------------------------------------------------------------------
(ITEM 1:) (ITEM 2) (ITEM 3) (ITEM 4) (ITEM 5) (ITEM 6) (ITEM 7) (ITEM 8)
INVESTMENT DISCRETION VOTING AUTHORITY
TITLE FAIR SHARES OR PUT/ SOLE SHARE-AS SHARED- SOLE SHARED NONE
OF MARKET PRINCIPAL CALL DEFINED IN OTHER
NAME OF ISSUER CLASS CUSIP NO. VALUE AMOUNT INSTR.V
(IN THOUSANDS) (A) (B) (C) (A) (B) (C)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
------------------------------------------------------------------------------------------------------------------------------------
KIMBERLY CLARK CORP COMMON 494368103 534000 9,296 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
KROGER CO COMMON 501044101 31000 1,400 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
LABORATORY CORP AMER HLDGS COMMON NEW 50540R40 55000 700 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
LABORATORY CORP AMER HLDGS WTS 50540R106 3000 400 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
LAM RESEARCH CORP COMMON 512807108 63000 1,600 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
LANDMARK LANDMARK -
NOMINEE 999999999 674000 673,581 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
LANDMARK IX 999999999 1376000 1,376,227 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
LANIER WORLDWIDE INC COMMON 51589L105 45000 40,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
LASALLE RE HLDGS LTD COMMON G5383Q101 311000 21,800 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
LATTICE SEMICONDUCTOR CORP COMMON 518415104 94000 1,300 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
LIBERTY FINL COS INC COMMON 530512102 392000 17,500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
LILLY ELI & CO COMMON 532457108 523000 5,300 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
LINCOLN NATL CAP I PFD 8.750% 534177209 24000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
LINCOLN NATL CAPITAL II PFD 8.350% 534178207 23000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
LOEWS CORP COMMON 540424108 61000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
LONE STAR INDUSTRIES COMMON 542290408 40000 800 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
LONE STAR TECHNOLOGIES INC COMMON 54231210 14000 300 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
LOWES COS INC COMMON 548661107 31000 760 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
LSI LOGIC CORP COMMON 502161102 304000 5,300 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
LTX CORP COMMON 502392103 24000 700 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
LUCENT TECHNOLOGIES INC COMMON 549463107 877000 14,817 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
MALLINCKRODT INC NEW COMMON 561232109 218000 5,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
MANUGISTICS GROUP INC COMMON 565011103 23000 500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
MARINE DRILLING CO INC COMMON 568240204 29000 1,100 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
MARSH & MCLENNAN COS INC COMMON 571748102 438000 4,180 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
MBIA INC COMMON 55262C100 287000 5,800 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
MCDONALDS CORP COMMON 580135101 302000 9,300 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
MCI CAP I PFD 8.000% 55267Y206 23000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
MEADE INSTRS CORP COMMON 583062104 24000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
MEDIA 100 INC COMMON 58440W105 39000 1,500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
MEDIAONE FING A PFD 7.960% 583937206 22000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
MEDIAONE GROUP INC COMMON 58440J104 59000 890 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
MEDTRONIC INC COMMON 585055106 696000 14,258 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
MERCK & CO INC COMMON 589331107 7303000 95,504 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
MERRILL LYNCH & CO INC COMMON 590188108 231000 2,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
9
<PAGE>
------------------------------------------------------------------------------------------------------------------------------------
(ITEM 1:) (ITEM 2) (ITEM 3) (ITEM 4) (ITEM 5) (ITEM 6) (ITEM 7) (ITEM 8)
INVESTMENT DISCRETION VOTING AUTHORITY
TITLE FAIR SHARES OR PUT/ SOLE SHARE-AS SHARED- SOLE SHARED NONE
OF MARKET PRINCIPAL CALL DEFINED IN OTHER
NAME OF ISSUER CLASS CUSIP NO. VALUE AMOUNT INSTR.V
(IN THOUSANDS) (A) (B) (C) (A) (B) (C)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
------------------------------------------------------------------------------------------------------------------------------------
MERRILL LYNCH PFD CAP PFD 7.750% 589977206 47000 2,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
METALURGICA GERDAU S.A. PN 2581138 214000 10,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
METTLER-TOLEDO INTL INC COMMON 592688105 50000 1,300 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
MICHAELS STORES INC COMMON 594087108 59000 1,300 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
MICROCHIP TECHNOLOGY INC COMMON 595017104 112000 1,850 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
MICRON TECHNOLOGY INC COMMON 595112103 262000 2,900 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
MICROSOFT CORP COMMON 594918104 1982000 24,775 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
MILLENNIUM INORGANIC PN A 2886554 122000 4,193 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
MILLENNIUM INORGANIC PN B 2886543 228000 7,719 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
MILLIPORE CORP COMMON 601073109 38000 500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
MINNESOTA MNG & MFG CO COMMON 604059105 189000 2,250 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
MINNESOTA PWR & LT CO COMMON 604110106 38000 2,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
MOLEX INC COMMON 608554101 61000 1,250 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
MONTANA PWR CO COMMON 612085100 90000 2,500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
MORGAN J P & CO INC COMMON 616880100 576000 4,979 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
MORGAN ST DN WTTR & CO COMMON NEW 617446448 878000 10,326 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
MORGAN STANLEY EQ GRWTH 73232471 680000 16,331 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
MOS FOOD SERVICES COMMON 6605830 0 20 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
MOTOROLA INC COMMON 620076109 629000 20,450 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
MUNIHOLDINGS NEW JRSEY INSD 62626C107 123000 10,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
NATIONAL SEMICONDUCTOR CORP COMMON 637640103 337000 5,800 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
NAVISTAR INTL CORP NEW COMMON 201000 6,200 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
NCH CORP COMMON 628850109 7000 200 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
NCR CORP NEW COMMON 0 6 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
NEIMAN MARCUS GROUPS INC CL A COMMON 640204202 3000 100 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
NEWS CORP LTD SPONS ADR NEW 652487703 383000 6,900 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
NEXTEL COMMUNICATIONS INC CL A COMMON 65332V103 371000 6,270 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
NIKE INC CL B 654106103 8000 200 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
NOKIA CORP SPONS ADR A 654902204 943000 18,100 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
NOKIA CORP SPONS ADR 654902204 98000 1,880 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
NORFOLK SOUTHN CORP COMMON 655844108 113000 7,200 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
NORTEL NETWORKS CORP COMMON 656568102 727000 10,068 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
NORTHERN TR CORP COMMON 665859104 232000 3,400 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
NOVELL INC COMMON 670006105 75000 8,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ORACLE CORPORATION COMMON 68389X105 489000 6,100 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
10
<PAGE>
------------------------------------------------------------------------------------------------------------------------------------
(ITEM 1:) (ITEM 2) (ITEM 3) (ITEM 4) (ITEM 5) (ITEM 6) (ITEM 7) (ITEM 8)
INVESTMENT DISCRETION VOTING AUTHORITY
TITLE FAIR SHARES OR PUT/ SOLE SHARE-AS SHARED- SOLE SHARED NONE
OF MARKET PRINCIPAL CALL DEFINED IN OTHER
NAME OF ISSUER CLASS CUSIP NO. VALUE AMOUNT INSTR.V
(IN THOUSANDS) (A) (B) (C) (A) (B) (C)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
------------------------------------------------------------------------------------------------------------------------------------
ORTHODONTIC CTRS OF AMER COMMON 68750P103 40000 1,700 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
OUTBACK STEAKHOUSE INC COMMON 689899102 44000 1,500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
PACIFIC TELESIS FING I PFD 7.560% 694887209 23000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
PACTIV CORP COMMON 695257105 124000 15,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
PAO DE ACUAR LOCAL PN 2667771 2228000 69,083 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
PAREXEL INTL CORP COMMON 699462107 182000 18,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
PATHWAYS GROUP INC COMMON 70321D106 7000 8,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
PAXSON COMMUNICATIONS CORP COMMON 704231109 84000 10,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
PE CORP-CELERA GENOMICS COMMON 69332S201 97000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
PENNEY J C CO COMMON 708160106 7000 400 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
PEPSICO INC COMMON 713448108 155000 3,600 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
PEQUOT PEQUOT -
NOMINEE 999999999 1000000 1,000,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
PETROFLEX ON 2682354 239000 3,310 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
PETROLEO BRASILEIRO S.A. LOCAL PN 2684532 3051000 98,300 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
PFIZER INC COMMON 717081103 6963000 146,004 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
PHARMACIA CORP COMMON 71713U102 443000 8,377 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
PHILEX MINING CORP CLASS B 71814230 4000 1,844 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
PHILIP MORRIS COS INC COMMON 718154107 480000 17,665 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
PHOSPHATE RESOURCE PARTNERS COMMON 719217101 3000 500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
PINNACLE SYS INC COMMON 723481107 43000 1,800 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
PITTSTON BRINK'S GROUP COMMON 725701106 189000 13,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
PLANTRONICS INC COMMON NEW 727493108 176000 1,500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
PMC-SIERRA INC COMMON 69344F106 214000 1,200 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
PNC FINANCIAL SERVICES GROUP COMMON 693475105 527000 10,816 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
POTOMAC ELEC PWR CO COMMON 737679100 27000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
PRECISION DRILLING CORP CL A COMMON 74022D100 42000 1,100 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
PRIDE INTL INC COMMON 741932107 84000 3,500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
PROCTER & GAMBLE CO COMMON 742718109 497000 8,900 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
PROVIDIAN FINL CORP COMMON 74406A102 441000 4,922 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
QUALCOMM INC COMMON 747525103 30000 500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
QUANTA SVCS INC COMMON 27000 500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
QUANTUM CORP COMMON 747906303 88000 7,800 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
QUANTUM CORP DLT & STORAGE COMMON 747906204 61000 6,300 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
QUESTMARK QUESTMARK -
NOMINEE 999999999 593000 593,429 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
QUESTOR QUESTOR -
NOMINEE 999999999 95000 94,973 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
11
<PAGE>
------------------------------------------------------------------------------------------------------------------------------------
(ITEM 1:) (ITEM 2) (ITEM 3) (ITEM 4) (ITEM 5) (ITEM 6) (ITEM 7) (ITEM 8)
INVESTMENT DISCRETION VOTING AUTHORITY
TITLE FAIR SHARES OR PUT/ SOLE SHARE-AS SHARED- SOLE SHARED NONE
OF MARKET PRINCIPAL CALL DEFINED IN OTHER
NAME OF ISSUER CLASS CUSIP NO. VALUE AMOUNT INSTR.V
(IN THOUSANDS) (A) (B) (C) (A) (B) (C)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
------------------------------------------------------------------------------------------------------------------------------------
R & B FALCON CORP COMMON 119000 5,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
RADIOSHACK CORP COM 750438103 370000 7,700 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
RARE HOSPITALITY INTL INC COMMON 753820109 116000 4,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
RAYONIER INC COMMON 754907103 2000 63 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
RAYTHEON CO CL B 755111408 57000 2,800 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
RCN CORP COMMON 749361101 25000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ROHM & HAAS CO COMMON 775371107 57000 1,582 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ROWAN COMPANIES INC COMMON 779382100 82000 2,700 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ROYAL DUTCH PETE CO NY REG SHS
1.25 780257804 333000 5,320 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
RYDER SYS INC COMMON 783549108 178000 9,200 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
SAFEWAY INC COMMON NEW 786514208 183000 4,100 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
SANMINA CORP COMMON 800907107 156000 1,800 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
SANTA FE INTL CORP COMMON G7805C108 38000 1,100 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
SBC COMM INC FPD 8.500% 694889205 49000 2,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
SBC COMMUNICATIONS INC COMMON 78387G103 497000 10,664 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
SCANA CORP 80589M102 13000 500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
SCG HLDG CORP COMMON 783884109 48000 2,100 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
SCHERING PLOUGH CORP COMMON 806605101 5385000 106,758 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
SCHLUMBERGER LTD COMMON 806857108 1070000 14,400 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
SCIENTIFIC ATLANTA INC COMMON 8.09E+08 38000 500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
SCIOS INC COMMON 808905103 1000 100 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
SCOTTISH PWR PLC ADR SPONS
FINAL 81013T705 14000 421 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
SEARS ROEBUCK & CO COMMON 812387108 113000 3,418 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
SERVICE CORP INTL COMMON 817565104 105000 30,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
SHAW INDS INC COMMON 820286102 68000 5,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
SILICON VY GROUP INC COMMON 827066101 173000 6,800 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
SIRIUS SATELLITE RADIO INC COMMON 82966U103 14000 300 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
SLM HOLDING CORP COMMON 78442A109 53000 1,400 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
SNAP ON INC COMMON 833034101 125000 4,400 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
SOLECTRON CORP COMMON 834182107 221000 5,200 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
SORIANA S.A. LOCAL B 2620172 1488000 353,200 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
SOUTHTRUST CORP COMMON 844730101 445000 18,054 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
SPRINT CORP (FON GROUP) COMMON 852061100 1161000 21,320 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
SPRINT CORP (PCS GROUP) COMMON 852061506 1053000 17,610 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ST JUDE MED INC 79084910 103000 2,500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
12
<PAGE>
------------------------------------------------------------------------------------------------------------------------------------
(ITEM 1:) (ITEM 2) (ITEM 3) (ITEM 4) (ITEM 5) (ITEM 6) (ITEM 7) (ITEM 8)
INVESTMENT DISCRETION VOTING AUTHORITY
TITLE FAIR SHARES OR PUT/ SOLE SHARE-AS SHARED- SOLE SHARED NONE
OF MARKET PRINCIPAL CALL DEFINED IN OTHER
NAME OF ISSUER CLASS CUSIP NO. VALUE AMOUNT INSTR.V
(IN THOUSANDS) (A) (B) (C) (A) (B) (C)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
------------------------------------------------------------------------------------------------------------------------------------
ST PAUL COS INC COMMON 792860108 69000 2,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
STARWOOD HOTELS & RESORTS COMMON 85590A203 129000 3,900 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
STATE STREET CORP COMMON 857477103 273000 2,600 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
STRATOS LIGHTWAVE INC COMMON 863100103 9000 300 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
SUMMIT BANCORP COMMON 866005101 6000 250 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
SUN MICROSYSTEMS INC COMMON 866810104 1242000 13,730 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
SUNAMERICA CAP TR II PFD 8.35% 867022204 25000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
SUNTRUST BKS INC COMMON 867914103 255000 5,212 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
SUPERVALU INC COMMON 868536103 197000 10,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
SYBASE INC COMMON 871130100 21000 900 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TAIWAN SEMICONDUCTOR MFG CO SPONS ADR 874039100 39000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TCI COMM FINANCING I PFD 8.72% 872285200 24000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TECH DATA CORP COMMON 878237106 49000 1,100 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TECUMSEH PRODS CO COMMON CL B 878895101 322000 7,900 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TEECO PPTYS LP CO COMMON 87900210 0 1,080 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TEKTRONIX INC COMMON 879131100 133000 1,800 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TELECOM BRASILEIRAS-TELEBRAS SPONS ADR 879287308 214000 2,150 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TELECOM DE SAO PAULO LOCAL 2292720 324000 19,551 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TELECOM SAO PAULO SPONS ADR 87929A102 91000 5,200 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TELEFONICA DE ESPANA S A SPONS ADR 879382208 77000 1,136 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TELEFONOS DE MEXICO S.A. SPONS ADR L 879403780 1459000 23,200 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TELEMIG CELULAR PART SPONS ADR 192000 2,700 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TELEPHONE & DATA SYS INC COMMON 879433100 103000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TELESP CELULAR PART SPONS ADR 87952L108 1149000 24,950 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TELESP CELULAR PARTIC-PREF LOCAL 2292690 1242000 74,419 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TELESUDESTE CELULAR-PREF LOCAL 2292753 72000 12,440 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TELLABS INC COMMON 879664100 805000 11,400 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TENN VALLEY AUTH SER A PFD 7.5% 880591201 38000 1,600 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TENNESSEE VALLEY AUTH PFD 8.000% 880591102 25000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TERADYNE INC COMMON 880770102 240000 3,100 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TEXACO INC COMMON 881694103 222000 4,100 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TEXAS INSTRUMENTS INC COMMON 882508104 417000 6,050 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TIME WARNER CAP I PFD 8.875% 88731G204 24000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TIME WARNER INC COMMON 887315109 1187000 15,447 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TIME WARNER INC COMMON 887315109 15000 200 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
13
<PAGE>
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(ITEM 1:) (ITEM 2) (ITEM 3) (ITEM 4) (ITEM 5) (ITEM 6) (ITEM 7) (ITEM 8)
INVESTMENT DISCRETION VOTING AUTHORITY
TITLE FAIR SHARES OR PUT/ SOLE SHARE-AS SHARED- SOLE SHARED NONE
OF MARKET PRINCIPAL CALL DEFINED IN OTHER
NAME OF ISSUER CLASS CUSIP NO. VALUE AMOUNT INSTR.V
(IN THOUSANDS) (A) (B) (C) (A) (B) (C)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
------------------------------------------------------------------------------------------------------------------------------------
TJX COS INC COMMON NEW 872540109 136000 7,300 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TOM BROWN INC COMMON 115660201 30000 1,300 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TORCHMARK CAP LLC PFD 9.180% 891025207 25000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TOYS R US INC COMMON 892335100 220000 15,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TRANSOCEAN OFFSHORE INC ORD COMMON G90078109 11000 200 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TRANSOCEAN SEDCO FOREX INC COMMON G90078109 446000 8,463 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TRANSTEXAS GAS CORP CL A COMMON 89389520 3000 582 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TRANSTEXAS GAS CORP PFD SR 893895409 13000 131,630 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TRANSWITCH CORP COMMON 894065101 590000 7,625 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TRAVELERS P&C CAP I PFD 8.08% 893931204 23000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TRIGON HEALTHCARE INC COMMON 89618L100 64000 1,200 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TRINITY INDUSTRIES INC COMMON 896522109 38000 2,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TRITON ENERGY LTD ORD CL A 907511011 83000 2,100 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TV AZTECA S.A. SPONS ADR 901145102 165000 24,700 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
TYCO INTL LTD NEW COMMON 902124106 630000 13,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
U S WEST INC NEW COMMON 91273H101 4000 41 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
UNIBANCO SPONS GDR 5209000 178,859 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
UNILEVER N V NEW YORK
SHS N 904784709 66000 1,428 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
UNION PAC CORP COMMON 907818108 433000 11,322 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
UNION PAC RES GROUP INC COMMON 907834105 122000 5,400 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
UNION PLANTERS CORP COMMON 908068109 459000 15,512 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
UNISYS CORP COMMON 909214108 90000 6,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
UNITED DOMINION RLTY TR INC COMMON 910197102 192000 17,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
UNITED PARCEL SVC INC CL B COMMON 911312106 15000 250 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
UNITED TECHNOLOGIES CORP COMMON 91301710 1038000 18,303 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
UNITED TECHNOLOGIES CORP COMMON 913017109 249000 4,400 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
UNITEDHEALTH GROUP INC COMMON 91324P102 467000 5,300 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
UNUMPROVIDENT CORP COMMON 91529Y106 221000 10,800 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
VARIAN MEDICAL SYSTEMS INC COMMON 92220P105 8000 200 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
VEECO INSTRUMENTS INC COMMON 922417100 59000 800 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
VERISIGN INC COMMON 79000 430 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
VERITAS SOFTWARE CO COMMON 923436109 23000 204 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
VIACOM INC CL B COMMON 925524308 617000 9,245 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
VIACOM INC WTS 925524126 0 1,362 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
VIASYSTEMS GROUP INC COM 92553H10 25000 1,500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
14
<PAGE>
------------------------------------------------------------------------------------------------------------------------------------
(ITEM 1:) (ITEM 2) (ITEM 3) (ITEM 4) (ITEM 5) (ITEM 6) (ITEM 7) (ITEM 8)
INVESTMENT DISCRETION VOTING AUTHORITY
TITLE FAIR SHARES OR PUT/ SOLE SHARE-AS SHARED- SOLE SHARED NONE
OF MARKET PRINCIPAL CALL DEFINED IN OTHER
NAME OF ISSUER CLASS CUSIP NO. VALUE AMOUNT INSTR.V
(IN THOUSANDS) (A) (B) (C) (A) (B) (C)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
------------------------------------------------------------------------------------------------------------------------------------
VIRGINIA PWR CAP TR PFD 8.050% 928082205 23000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
VITESSE SEMICONDUCTOR CORP COMMON 928497106 37000 500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
VODAFONE AIRTOUCH PLC SPONS ADR 92857T107 5000 100 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
WABTEC COMMON 9.30E+08 152000 15,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
WAL MART STORES INC COMMON 931142103 1644000 28,900 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
WALGREEN CO 931422109 64000 2,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
WALMART DE MEXICO LOCAL V 2135212 1398000 574,860 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
WALT DISNEY CO COMMON 254687106 12000 300 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
WASHINGTON MUT INC COMMON 939322103 151000 5,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
WASTE MGMT INC COMMON 94106L109 329000 17,500 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
WEATHERFORD INTL INC NEW COMMON 947074100 73000 1,800 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
WEINGARTEN RLTY INVST REIT 948741103 61000 1,497 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
WELLS FARGO & CO NEW COMMON 949746101 71000 1,740 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
WENDYS INTL INC COMMON 950590109 48000 2,700 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
WESTERN RESOURCES INC COMMON 959425109 16000 1,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
WEYERHAEUSER CO COMMON 962166104 11000 250 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
WHITMAN CORP COMMON NEW 96647R107 146000 12,000 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
WOOLWORTHS LTD COMMON 6981239 0 442 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
WORLDCOM INC COMMON 98157D106 873000 19,355 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
XEROX CORP COMMON 984121103 501000 24,600 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
XILINX INC COMMON 983919101 349000 4,100 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
ZORAN CORP COMMON 98975F101 85000 1,300 X 0 0 X 0 0
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
15
