<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 1999
----------------
Check here if Amendment [ ]; Amendment Number:
-----------------
This Amendment (Check only one.): [ ] is a restatement
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: CALAMOS ASSET MANAGEMENT, INC.
Address: 1111 East Warrenville Road
Naperville, Illinois 60563-1493
Form 13F File Number: 28-2864
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The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: James S. Hamman, Jr.
Title: Vice President & General Counsel
Phone: (630) 245-7296
Signature, Place, and Date of Signing:
/s/ James S. Hamman, Jr. Naperville, IL May 13, 1999
- ------------------------ ------------------------ -----------------
[Signature] [City, State] [Date]
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting
manager are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in this report,
and all holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this
reporting manager are reported in this report and a portion are reported
by other reporting manager(s).)
<PAGE> 2
FORM 13F SUMMARY PAGE
Report Summary:
Form 13F Information Table Entry Total: 243
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Form 13F Information Table Value Total: 1,493,999
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(thousands)
<PAGE> 3
COLUMN 1 COLUMN 2 COLUMN 3
NAME OF ISSUER TITLE OF CLASS CUSIP
- --------------------------------------------------------------------------------
ABERCROMBIE & FITCH CO COMMON STOCK 002896207
ACTION PERFORM 4.75% Convertible Subordinated 004933AB3
ADAPTEC INC (4.75) 4.75% Convertible Bond due 200 00651FAC2
ADT OPERATIONS (LYONS) LIQUID YIELD OPTION NOTES DUE 000945AC9
ADVANTAGE LEARNING COMMON STOCK 00757K100
AES CORP COMMON STOCK 00130H105
AES CORP 4.50% Junior Convertible Subor 00130HAN5
AFFILIATED COMP REGISTERED 4% Convertible Subordinated No 008190AD2
AFFILIATED COMP SRVCS 144A(R) 4% Convertible Subordinated No 008190AC4
ALKERMES INC 6.5% Convertible Preferred Sto 01642T405
ALLERGAN INC COMMON STOCK 018490102
ALLIANT TECHSYS COMMON STOCK 018804104
ALPHARMA INC 5.75% CONVERTIBLE SUBORDINATED 020813AB7
ALPHARMA INC 144A(R) 5.75% Convertible Subordinated 020813AA9
ALTERNATIVE LIVING SERVICES 5.25% Convertible Subordinated 02145KAB3
ALZA CORP LIQUID YIELD OPTION NOTES DUE 022615AC2
ALZA CORP 5% Convertible Subordinated De 022615AD0
AMER GENERAL (MIPS) CONVERTIBLE MIPS, SERIES A 02637G200
AMERICA ONLINE 144A 4% Convertible Bonds due 2002 02364JAA2
AMERICAN BANKERS INSUR $3.125 SERIES C CONVERTIBLE PR 024456204
AMERICAN GENERAL (PRIDES) CONVERTIBLE 026351809
AMERICAN HERITAGE LIFE (PRIDE) 8.5% Feline Prides=1Stk Purch 026522201
AMERICAN POWER CNVRSION AMERICAN POWER C0NVRSION COMMO 029066107
AMERICAN RETIREMENT CORP 5.75% Convertible Subordinated 028913AA9
AMGEN INC COMMON STOCK 031162100
ANDRX CORP COMMON STOCK 034551101
ANTEC CORP 144A(R) 4.5% Convertible Bonds due 200 03664PAA3
APPLE COMPUTER INC COMMON STOCK 037833100
ARCHSTONE COMUN $1.75 SERIES A CONVERTIBLE PRE 039581202
ARMCO INC CONVERTIBLE PREFERRED STOCK 042170407
ARMCO INC $4.50 CUMULATIVE CONVERTIBLE P 042170308
ATMEL CORP 144A(R) 0% Convertible Subordinated de 049513AB0
AUTOMATIC DATA PROC COMMON STOCK 053015103
BAKER HUGHES LIQUID YIELD OPTION NOTES DUE 057224AH0
BANKATLANTIC BNC 5.625% Convertible Bonds due 2 065908AC9
BEA SYSTEMS INC 144A(R) 4% Convertible Subordinated De 073325AA0
BEAZER HOMES COMMON STOCK 07556Q105
BETHLEHEM STEEL $5.00 SERIES CONVERTIBLE PREFE 087509303
BETHLEHEM STEEL $2.50 SERIES CONVERTIBLE PREFE 087509402
BIOGEN INC COMMON STOCK 090597105
BRINKER INTL (CHILI'S) COMMON STOCK 109641100
BROADVISION INC COMMON STOCK 111412102
COLUMN 1 COLUMN 4 COLUMN 5
VALUE SHRS OR SH/PUT/
NAME OF ISSUER (X$1000) PRN AMT PRN CALL
- --------------------------------------------------------------
ABERCROMBIE & FITCH CO 396 4300 SH
ACTION PERFORM 255 293 SH
ADAPTEC INC (4.75) 224 270 SH
ADT OPERATIONS (LYONS) 1275 650 SH
ADVANTAGE LEARNING 249 8000 SH
AES CORP 214 5750 SH
AES CORP 30180 31437 SH
AFFILIATED COMP REGISTERED 29483 23445 SH
AFFILIATED COMP SRVCS 144A(R) 20039 15935 SH
ALKERMES INC 1096 19930 SH
ALLERGAN INC 299 3400 SH
ALLIANT TECHSYS 272 3500 SH
ALPHARMA INC 3286 2169 SH
ALPHARMA INC 144A(R) 606 400 SH
ALTERNATIVE LIVING SERVICES 365 400 SH
ALZA CORP 2697 5119 SH
ALZA CORP 9147 7855 SH
AMER GENERAL (MIPS) 5404 61230 SH
AMERICA ONLINE 144A 6185 550 SH
AMERICAN BANKERS INSUR 2122 20115 SH
AMERICAN GENERAL (PRIDES) 204 3395 SH
AMERICAN HERITAGE LIFE (PRIDE) 2078 32725 SH
AMERICAN POWER CNVRSION 1220 45170 SH
AMERICAN RETIREMENT CORP 293 350 SH
AMGEN INC 449 6000 SH
ANDRX CORP 401 4400 SH
ANTEC CORP 144A(R) 342 300 SH
APPLE COMPUTER INC 283 7880 SH
ARCHSTONE COMUN 695 25795 SH
ARMCO INC 228 5150 SH
ARMCO INC 807 16065 SH
ATMEL CORP 144A(R) 9371 30370 SH
AUTOMATIC DATA PROC 776 18766 SH
BAKER HUGHES 559 786 SH
BANKATLANTIC BNC 9701 12051 SH
BEA SYSTEMS INC 144A(R) 626 800 SH
BEAZER HOMES 719 34243 SH
BETHLEHEM STEEL 551 10000 SH
BETHLEHEM STEEL 660 24545 SH
BIOGEN INC 354 3100 SH
BRINKER INTL (CHILI'S) 1802 69825 SH
BROADVISION INC 305 5100 SH
COLUMN 1 COLUMN 6 COLUMN 7 COLUMN 8
INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------------------------------------------------------------
ABERCROMBIE & FITCH CO SOLE 0 4300
ACTION PERFORM SOLE 293 0
ADAPTEC INC (4.75) SOLE 270 0
ADT OPERATIONS (LYONS) SOLE 650 0
ADVANTAGE LEARNING SOLE 0 8000
AES CORP SOLE 800 4950
AES CORP SOLE 19565 11872
AFFILIATED COMP REGISTERED SOLE 12485 10960
AFFILIATED COMP SRVCS 144A(R) SOLE 12165 3770
ALKERMES INC SOLE 11365 8565
ALLERGAN INC SOLE 0 3400
ALLIANT TECHSYS SOLE 0 3500
ALPHARMA INC SOLE 1559 610
ALPHARMA INC 144A(R) SOLE 400 0
ALTERNATIVE LIVING SERVICES SOLE 400 0
ALZA CORP SOLE 3878 1241
ALZA CORP SOLE 2219 5636
AMER GENERAL (MIPS) SOLE 20815 40415
AMERICA ONLINE 144A SOLE 550 0
AMERICAN BANKERS INSUR SOLE 12595 7520
AMERICAN GENERAL (PRIDES) SOLE 160 3235
AMERICAN HERITAGE LIFE (PRIDE) SOLE 22805 9920
AMERICAN POWER CNVRSION SOLE 18405 26765
AMERICAN RETIREMENT CORP SOLE 350 0
AMGEN INC SOLE 0 6000
ANDRX CORP SOLE 0 4400
ANTEC CORP 144A(R) SOLE 300 0
APPLE COMPUTER INC SOLE 1230 6650
ARCHSTONE COMUN SOLE 16855 8940
ARMCO INC SOLE 4650 500
ARMCO INC SOLE 7585 8480
ATMEL CORP 144A(R) SOLE 19325 11045
AUTOMATIC DATA PROC SOLE 18766 0
BAKER HUGHES SOLE 756 30
BANKATLANTIC BNC SOLE 6624 5427
BEA SYSTEMS INC 144A(R) SOLE 800 0
BEAZER HOMES SOLE 13547 20696
BETHLEHEM STEEL SOLE 10000 0
BETHLEHEM STEEL SOLE 10960 13585
BIOGEN INC SOLE 0 3100
BRINKER INTL (CHILI'S) SOLE 31375 38450
BROADVISION INC SOLE 0 5100
<PAGE> 4
CARNIVAL CORP COMMON STOCK 143658102
CASE CORP COMMON STOCK 14743R103
CEDAR FAIR COMMON STOCK 150185106
CENTOCOR INC 144A(R) 4.75% Convertible Subordinated 152342AC5
CENTOCOR INC 4.75 4.75% Convertible Subordinated 152342AE1
CHANCELLOR MEDIA (EVERGREEN) $3.00 Convertible Preferred St 158915405
CHARMING SHOPPE 7.50% Convertible Subordinated 161133AA1
CHECKPOINT SYSTEMS 5.25% CONVERTIBLE BONDS DUE 20 162825AB9
CHEVRON CORP COMMON STOCK 166751107
CHIEFTAIN INTL $1.8125 Conv. Redeemable Pfd. 168672202
CHIQUITA BRANDS $3.75 SERIES B CONVERTIBLE PRE 170032502
CHIRON CORP. 1.90% CONVERTIBLE SUBORDINATED 170040AB5
CINCINNATI FINANCIAL CORP. 5.50% CONVERTIBLE SENIOR DEBEN 172062AB7
CISCO SYSTEMS INC COMMON STOCK 17275R102
CITIZENS UTILITIES CO (EPPICS) EPPICS (Equity Providing Prefe 177351202
CLEAR CHANNEL COMMUNICATIONS COMMON STOCK 184502102
CNF TRANSPORT (TECONS) 5% Convertible preferred TECON 12612V205
COMVERSE TECH 4.5% Subordinated Debentures d 205862AG0
COMVERSE TECH COMMON STOCK 205862402
COMVERSE TECH 4.5% Subordinated Debentures d 205862AF2
COMVERSE TECH 144A 5.75% CONVERTIBLE BONDS DUE 20 205862AC9
CONTL AIRLINES 6.75% CONVERTIBLE BONDS DUE 20 210795AS9
COSTCO COS (OID) Zero Coupon Subordinated Notes 22160QAC6
COSTCO COS (OID) 144A(R) Zero Coupon Subordinated notes 22160QAA0
DATA GENERAL 6% Convertible Subordinated no 237688AG1
DEVELOPERS DIVERS REALTY CRP 7% CONVERTIBLE SUBORDINATED DE 251591AA1
DIAMOND OFFSHORE DRILLING 3.75 Convertible Subordinated 25271CAA0
DOUBLECLICK INC COMMON STOCK 258609304
EL PASO ENER CAP TRUST I 4.75% Trust Convertible Prefer 283678209
ELAN (ATHENA NEUROSCIENCE) 4.75% Convertible Bonds due 20 046854AB1
ELAN (ATHENA NEUROSCIENCE)144A 4.75% CONVERTIBLE BONDS DUE 20 046854AA3
ELAN CORP LYON 144A(R) CONVERTIBLE SUBORDINATED LYONS 284129AA1
ELECTRONIC DATA SYS CORP ELECTRONIC DATA SYS CORP COMMO 285661104
EMC CORP -MASS 3.25% Convertible Bonds due 20 26865YAA2
EMC CORP-MASS COMMON STOCK 268648102
EMCOR GROUP INC 5.75% Convertible Subordinated 29084QAC4
EQUITY OFFICE TRUST (PIERS) 5.25% Prefered Income Equity R 294741509
EQUITY RES PROP $2.15 SERIES J CUMULATIVE CONV 29476L826
FEDERAL HOME LOAN MTG CORP COMMON STOCK 313400301
FIFTH THIRD BK COMMON STOCK 316773100
FINANCIAL FEDERAL CORP COMMON STOCK 317492106
FINL FED CORP 4.5% Convertible Subordinated 317492AC0
FINOVA GROUP (TOPRS) CONVERTIBLE PREFERRED STOCK 5. 31808E207
FIRSTAR CP NEW COMMON STOCK 33763V109
FORD MOTOR COMPANY COMMON STOCK 345370100
FRANCE TELECOM S.A. 2.0% CONVERTIBLE BOND DUE 01/0 35177QAB1
CARNIVAL CORP 1342 27624 SH
CASE CORP 471 18550 SH
CEDAR FAIR 324 12910 SH
CENTOCOR INC 144A(R) 341 350 SH
CENTOCOR INC 4.75 490 503 SH
CHANCELLOR MEDIA (EVERGREEN) 791 8200 SH
CHARMING SHOPPE 224 250 SH
CHECKPOINT SYSTEMS 286 400 SH
CHEVRON CORP 354 4000 SH
CHIEFTAIN INTL 292 12315 SH
CHIQUITA BRANDS 367 8485 SH
CHIRON CORP. 18170 18684 SH
CINCINNATI FINANCIAL CORP. 491 200 SH
CISCO SYSTEMS INC 281 2565 SH
CITIZENS UTILITIES CO (EPPICS) 2900 71600 SH
CLEAR CHANNEL COMMUNICATIONS 315 4700 SH
CNF TRANSPORT (TECONS) 387 6975 SH
COMVERSE TECH 258 177 SH
COMVERSE TECH 306 3600 SH
COMVERSE TECH 14405 9875 SH
COMVERSE TECH 144A 521 275 SH
CONTL AIRLINES 498 390 SH
COSTCO COS (OID) 62764 58694 SH
COSTCO COS (OID) 144A(R) 41522 38830 SH
DATA GENERAL 260 315 SH
DEVELOPERS DIVERS REALTY CRP 408 409 SH
DIAMOND OFFSHORE DRILLING 37989 36291 SH
DOUBLECLICK INC 262 1440 SH
EL PASO ENER CAP TRUST I 578 12000 SH
ELAN (ATHENA NEUROSCIENCE) 35134 29036 SH
ELAN (ATHENA NEUROSCIENCE)144A 363 300 SH
ELAN CORP LYON 144A(R) 39985 69995 SH
ELECTRONIC DATA SYS CORP 1388 28505 SH
EMC CORP -MASS 4815 850 SH
EMC CORP-MASS 575 4500 SH
EMCOR GROUP INC 456 530 SH
EQUITY OFFICE TRUST (PIERS) 382 9500 SH
EQUITY RES PROP 8811 338875 SH
FEDERAL HOME LOAN MTG CORP 1771 31000 SH
FIFTH THIRD BK 1902 28852 SH
FINANCIAL FEDERAL CORP 209 11000 SH
FINL FED CORP 5799 6863 SH
FINOVA GROUP (TOPRS) 2950 41260 SH
FIRSTAR CP NEW 837 9357 SH
FORD MOTOR COMPANY 400 7045 SH
FRANCE TELECOM S.A. 4293 4510 SH
CARNIVAL CORP SOLE 0 27624
CASE CORP SOLE 3350 15200
CEDAR FAIR SOLE 3205 9705
CENTOCOR INC 144A(R) SOLE 350 0
CENTOCOR INC 4.75 SOLE 497 6
CHANCELLOR MEDIA (EVERGREEN) SOLE 8200 0
CHARMING SHOPPE SOLE 250 0
CHECKPOINT SYSTEMS SOLE 400 0
CHEVRON CORP SOLE 725 3275
CHIEFTAIN INTL SOLE 7045 5270
CHIQUITA BRANDS SOLE 7925 560
CHIRON CORP. SOLE 10263 8421
CINCINNATI FINANCIAL CORP. SOLE 200 0
CISCO SYSTEMS INC SOLE 0 2565
CITIZENS UTILITIES CO (EPPICS) SOLE 20900 50700
CLEAR CHANNEL COMMUNICATIONS SOLE 1000 3700
CNF TRANSPORT (TECONS) SOLE 6795 180
COMVERSE TECH SOLE 175 2
COMVERSE TECH SOLE 0 3600
COMVERSE TECH SOLE 7985 1890
COMVERSE TECH 144A SOLE 275 0
CONTL AIRLINES SOLE 65 325
COSTCO COS (OID) SOLE 24865 33829
COSTCO COS (OID) 144A(R) SOLE 32205 6625
DATA GENERAL SOLE 315 0
DEVELOPERS DIVERS REALTY CRP SOLE 168 241
DIAMOND OFFSHORE DRILLING SOLE 20295 15996
DOUBLECLICK INC SOLE 0 1440
EL PASO ENER CAP TRUST I SOLE 12000 0
ELAN (ATHENA NEUROSCIENCE) SOLE 10866 18170
ELAN (ATHENA NEUROSCIENCE)144A SOLE 300 0
ELAN CORP LYON 144A(R) SOLE 51935 18060
ELECTRONIC DATA SYS CORP SOLE 12835 15670
EMC CORP -MASS SOLE 850 0
EMC CORP-MASS SOLE 0 4500
EMCOR GROUP INC SOLE 530 0
EQUITY OFFICE TRUST (PIERS) SOLE 9500 0
EQUITY RES PROP SOLE 190330 148545
FEDERAL HOME LOAN MTG CORP SOLE 0 31000
FIFTH THIRD BK SOLE 0 28852
FINANCIAL FEDERAL CORP SOLE 1800 9200
FINL FED CORP SOLE 3853 3010
FINOVA GROUP (TOPRS) SOLE 17275 23985
FIRSTAR CP NEW SOLE 0 9357
FORD MOTOR COMPANY SOLE 1730 5315
FRANCE TELECOM S.A. SOLE 3155 1355
<PAGE> 5
GANNETT INC COMMON STOCK 364730101
GAP INC COMMON STOCK 364760108
GENENTECH EURO (+$36) 5% CONVERTIBLE SUBORDINATED DE 368710AA7
GENTEX CORP COMMON STOCK 371901109
GENZYME CORP 5.25% Convertible Subordinated 372917AF1
GENZYME CORP 144A(R) 5.25% Convertible Subordinated 372917AE4
GLENBOROGH REALTY TRUST 7.75% Convertible Preferred St 37803P204
GULFSTREAM AEROSPACE CORP COMMON STOCK 402734107
HARLEY-DAVIDSON INC COMMON STOCK 412822108
HEALTHSOUTH CP 144A(R) 3.25% Convertible Subordinated 421924AD3
HEWLETT PKD (LYONS) CONVERTIBLE SUBORDINATED (LYON 428236AC7
HEWLETT PKD (LYONS) 144A(R) CONVERTIBLE SUBORDINATED (LYON 428236AA1
HILTON HOTELS 5% CONVERTIBLE SUBORDINATED DE 432848AL3
HNC SOFTWARE INC 4.75% Convertible Subordinated 40425PAA5
HOME DEPOT 3.25% CONVERTIBLE SUBORDINATED 437076AE2
IBP INC COMMON STOCK 449223106
INCO LTD 5.75% Convertible Debentures D 453258AK1
INTERIM SERVICES 4.5% Convertible Subordinated 45868PAA8
INTERPUBLIC GRP 1.8% CONVERTIBLE SUBORDINATED 460690AF7
INTERPUBLIC GRP OID 144A(R) 1.8% Convertible Subordinated 460690AD2
JACOR COMM [CCU](LYONS) 2018 Liquid Yield Option Notes Due 469858AB0
JACOR COMMS [CCU](LYONS) LIQUID YIELD OPTION NOTES 469858AA2
JACOR COMMUC INC CLA COMMON STOCK 469858401
K MART FINANCING 7.75% 6/15/16 SERIES 498778208
KAUFMAN & BROAD HOME (PRIDES) 8.25% PRIDES DUE 2001 486168503
KEEBLER FOODS COMMON STOCK 487256109
KELLSTROM INDS 144A(R) 5.75% Convertible Subordinated 488035AA4
KMART CORP COMMON STOCK 482584109
K-SWISS CL A COMMON STOCK 482686102
LAM RESEARCH 144A(R) 5% Convertible Subordinated no 512807AB4
LENNAR CORP OID Zero Coupon Convertible Debent 526057AA2
LEVEL ONE COMMS 144A(R) 4% Convertible subordinated no 527295AA7
LEVEL ONE COMMUNICATIONS 4% Convertible Bonds due 2004 527295AC3
LEVEL ONE COMMUNICATIONS INC COMMON STOCK 527295109
LEXMARK HOLDING INC. COMMON STOCK 529771107
LORAL SPACE&COM 6% CONVERTIBLE PREFERRED STOCK 543885404
LOWE'S COMPANIES COMMON STOCK 548661107
MACROMEDIA INC COMMON STOCK 556100105
MAGNA INTERNATIONAL 4.875% CONVERTIBLE SUBORDINATE 559222AG9
MAGNA INTERNATIONAL 144A(R) 4.875% Convertible Subordinate 559222AF1
MAGNA INTL CL A 5% CONVERTIBLE SUBORDINATED DE 559222AE4
MAIL-WELL INC 5% Convertible Subordinated no 560321AD3
MASCOTECH INC 4.5% Convertible Subordinated 574670AB1
MAYTAG CORP COMMON STOCK 578592107
MCI WORLDCOM COMMON STOCK 55268B106
MEDIAONE GROUP 4.5% Series D Preferred Stock 58440J203
GANNETT INC 2390 37940 SH
GAP INC 353 5250 SH
GENENTECH EURO (+$36) 249 250 SH
GENTEX CORP 345 16000 SH
GENZYME CORP 17606 12142 SH
GENZYME CORP 144A(R) 20757 14315 SH
GLENBOROGH REALTY TRUST 1015 60600 SH
GULFSTREAM AEROSPACE CORP 230 5300 SH
HARLEY-DAVIDSON INC 374 6500 SH
HEALTHSOUTH CP 144A(R) 244 300 SH
HEWLETT PKD (LYONS) 62542 110776 SH
HEWLETT PKD (LYONS) 144A(R) 8977 15900 SH
HILTON HOTELS 86061 91311 SH
HNC SOFTWARE INC 545 550 SH
HOME DEPOT 5494 2024 SH
IBP INC 2667 143215 SH
INCO LTD 351 400 SH
INTERIM SERVICES 335 432 SH
INTERPUBLIC GRP 21223 18591 SH
INTERPUBLIC GRP OID 144A(R) 37778 33093 SH
JACOR COMM [CCU](LYONS) 2018 10887 20738 SH
JACOR COMMS [CCU](LYONS) 1452 1400 SH
JACOR COMMUC INC CLA 279 3675 SH
K MART FINANCING 2935 48513 SH
KAUFMAN & BROAD HOME (PRIDES) 380 47500 SH
KEEBLER FOODS 292 8000 SH
KELLSTROM INDS 144A(R) 411 500 SH
KMART CORP 284 16900 SH
K-SWISS CL A 268 10600 SH
LAM RESEARCH 144A(R) 211 250 SH
LENNAR CORP OID 30976 69825 SH
LEVEL ONE COMMS 144A(R) 492 250 SH
LEVEL ONE COMMUNICATIONS 492 250 SH
LEVEL ONE COMMUNICATIONS INC 456 9375 SH
LEXMARK HOLDING INC. 447 4000 SH
LORAL SPACE&COM 595 13200 SH
LOWE'S COMPANIES 284 4700 SH
MACROMEDIA INC 363 8000 SH
MAGNA INTERNATIONAL 42604 42418 SH
MAGNA INTERNATIONAL 144A(R) 3415 3400 SH
MAGNA INTL CL A 466 420 SH
MAIL-WELL INC 335 347 SH
MASCOTECH INC 550 700 SH
MAYTAG CORP 211 3500 SH
MCI WORLDCOM 1109 12523 SH
MEDIAONE GROUP 1324 10300 SH
GANNETT INC SOLE 0 37940
GAP INC SOLE 0 5250
GENENTECH EURO (+$36) SOLE 250 0
GENTEX CORP SOLE 0 16000
GENZYME CORP SOLE 4995 7147
GENZYME CORP 144A(R) SOLE 11005 3310
GLENBOROGH REALTY TRUST SOLE 52185 8415
GULFSTREAM AEROSPACE CORP SOLE 0 5300
HARLEY-DAVIDSON INC SOLE 0 6500
HEALTHSOUTH CP 144A(R) SOLE 300 0
HEWLETT PKD (LYONS) SOLE 59731 51045
HEWLETT PKD (LYONS) 144A(R) SOLE 14400 1500
HILTON HOTELS SOLE 50913 40398
HNC SOFTWARE INC SOLE 550 0
HOME DEPOT SOLE 2003 21
IBP INC SOLE 26370 116845
INCO LTD SOLE 400 0
INTERIM SERVICES SOLE 403 29
INTERPUBLIC GRP SOLE 6682 11909
INTERPUBLIC GRP OID 144A(R) SOLE 27145 5948
JACOR COMM [CCU](LYONS) 2018 SOLE 9520 11218
JACOR COMMS [CCU](LYONS) SOLE 1400 0
JACOR COMMUC INC CLA SOLE 725 2950
K MART FINANCING SOLE 41200 7313
KAUFMAN & BROAD HOME (PRIDES) SOLE 5500 42000
KEEBLER FOODS SOLE 0 8000
KELLSTROM INDS 144A(R) SOLE 500 0
KMART CORP SOLE 2600 14300
K-SWISS CL A SOLE 0 10600
LAM RESEARCH 144A(R) SOLE 250 0
LENNAR CORP OID SOLE 29038 40787
LEVEL ONE COMMS 144A(R) SOLE 250 0
LEVEL ONE COMMUNICATIONS SOLE 0 250
LEVEL ONE COMMUNICATIONS INC SOLE 0 9375
LEXMARK HOLDING INC. SOLE 0 4000
LORAL SPACE&COM SOLE 13200 0
LOWE'S COMPANIES SOLE 0 4700
MACROMEDIA INC SOLE 0 8000
MAGNA INTERNATIONAL SOLE 24615 17803
MAGNA INTERNATIONAL 144A(R) SOLE 1400 2000
MAGNA INTL CL A SOLE 400 20
MAIL-WELL INC SOLE 330 17
MASCOTECH INC SOLE 700 0
MAYTAG CORP SOLE 0 3500
MCI WORLDCOM SOLE 5045 7478
MEDIAONE GROUP SOLE 4730 5570
<PAGE> 6
MEDIMMUNE INC COMMON STOCK 584699102
MICRON TECH 7% Convertible Subordinated No 595112AB9
MICROSOFT CORP COMMON STOCK 594918104
MIDAS INC COMMON STOCK 595626102
MINDSPRING ENTRPRISES INC COMMON STOCK 602683104
MOTOROLA INC MOTOROLA INC COMMON STOCK 620076109
MOTOROLA INC Liquid Yield Option Notes due 620076AJ8
NABORS IND COMMON STOCK 629568106
NABORS INDUS INC 5% CONVERTIBLE SUBORDINATE NOT 629568AA4
NATIONAL AUSTRALIA BK 7.875% Convertible Preferred S 632525309
NATL DATA CORP 5% Convertible Subordinated No 635621AA3
NATL SEMICONDUCTOR 144A 6.5% Convertible Bonds Due 200 637640AA1
NETWORKS ASSOCS 0% Convertible Subordinated No 640938AB2
NETWORKS ASSOCS 144A 0% Convertible Subordinated No 640938AA4
NEW ERA OF NETWORKS INC COMMON STOCK 644312100
NEW PLAN EXCEL REALTY TR 8.5% SERIES A CONVERTIBLE PREF 648053205
NIKE INC-B CLASS B 654106103
NINE WEST GROUP 144A 5.5% CONVERTIBLE SUBORDINATED 65440DAA0
OAK INDS INC 144A(R) 4.875% Convertible Subordinate 671400AJ8
OCCIDENTAL PETROLEUM (CXY) $3.00 Cum. CXY-Indexed Conv. P 674599790
OFFICE DEPOT INC COMMON STOCK 676220106
OFFICE DEPOT INC Liquid Yield Option Notes Note 676220AB2
OFFSHORE LOGISTIC 6% CONVERTIBLE SUBORDINATED NO 676255AF9
OMNICARE INC 5% Convertible Subordinated De 681904AD0
OMNICARE INC 144A(R) 5% Convertible Subordinated De 681904AB4
OMNICOM GROUP 4.25% Convertible Bonds due 20 681919AE6
ORYX ENERGY (KMG) 7.50% CONVERTIBLE SUBORDINATED 68763FAD2
OWENS-ILLINOIS INC 4.75% Convertible Preferred St 690768502
PACIFICARE HEALTH SYSTEMS-CL B COMMON STOCK CLASS B SHARES 695112201
PARK ELECTROCHEMICAL CORP CONVERTIBLE 700416AB6
PECO ENERGY CO COMMON STOCK 693304107
PEP BOYS M M & J 4% Convertible Subordinated No 713278AG4
PERSONNEL GROUP 144A(R) 5.75% Convertible subordinated 715338AC3
PETSMART INC COMMON STOCK 716768106
PETSMART INC 6.75% Convertible Subordinated 716768AB2
PHILIPPINE LONG DIST Global Dep. Shares, One Share 718252703
PIER 1 IMPORTS 5.75% CONVERTIBLE SUBORDINATEE 720279AF5
PIONEER FIN SVC 6.5% CONVERTIBLE SUBORDINATED 723672AE1
PLATINUM TECH CONVERTIBLE 72764TAA9
PLATINUM TECH 144A(R) 6.25% Convertible Subordinated 72764TAB7
PMC - SIERRA INC COMMON STOCK 69344F106
POTOMAC ELECTRIC POWER 5% Convertible Debentures Due 737679BT6
POTOMAC ELECTRIC POWER 7% Convertible Debentures Due 737679BL3
PRIDE INTL INC Zero Coupon Subordinated deben 741932AB3
PROCTER & GAMBLE CO COMMON STOCK 742718109
PROLOGIS TRUST 7% SERIES B CONVERTIBLE PREFER 743410300
MEDIMMUNE INC 201 3400 SH
MICRON TECH 642 600 SH
MICROSOFT CORP 574 6400 SH
MIDAS INC 300 9000 SH
MINDSPRING ENTRPRISES INC 465 5400 SH
MOTOROLA INC 2278 31101.653 SH
MOTOROLA INC 13713 15583 SH
NABORS IND 225 12350 SH
NABORS INDUS INC 31764 27621 SH
NATIONAL AUSTRALIA BK 107297 3426608 SH
NATL DATA CORP 262 250 SH
NATL SEMICONDUCTOR 144A 334 400 SH
NETWORKS ASSOCS 4463 12186 SH
NETWORKS ASSOCS 144A 6966 19020 SH
NEW ERA OF NETWORKS INC 420 6200 SH
NEW PLAN EXCEL REALTY TR 222 9000 SH
NIKE INC-B 2832 49085 SH
NINE WEST GROUP 144A 284 300 SH
OAK INDS INC 144A(R) 308 300 SH
OCCIDENTAL PETROLEUM (CXY) 1464 29650 SH
OFFICE DEPOT INC 271 7350 SH
OFFICE DEPOT INC 72757 81661 SH
OFFSHORE LOGISTIC 261 300 SH
OMNICARE INC 203 250 SH
OMNICARE INC 144A(R) 567 700 SH
OMNICOM GROUP 1614 625 SH
ORYX ENERGY (KMG) 4379 4390 SH
OWENS-ILLINOIS INC 1259 34540 SH
PACIFICARE HEALTH SYSTEMS-CL B 316 4629 SH
PARK ELECTROCHEMICAL CORP 2907 3420 SH
PECO ENERGY CO 382 8270 SH
PEP BOYS M M & J 295 300 SH
PERSONNEL GROUP 144A(R) 228 300 SH
PETSMART INC 226 28200 SH
PETSMART INC 3708 3356 SH
PHILIPPINE LONG DIST 380 8000 SH
PIER 1 IMPORTS 402 350 SH
PIONEER FIN SVC 230 200 SH
PLATINUM TECH 373 200 SH
PLATINUM TECH 144A(R) 236 250 SH
PMC - SIERRA INC 271 3800 SH
POTOMAC ELECTRIC POWER 494 513 SH
POTOMAC ELECTRIC POWER 3744 3693 SH
PRIDE INTL INC 254 1000 SH
PROCTER & GAMBLE CO 678 6922 SH
PROLOGIS TRUST 6911 271666 SH
MEDIMMUNE INC SOLE 0 3400
MICRON TECH SOLE 600 0
MICROSOFT CORP SOLE 0 6400
MIDAS INC SOLE 0 9000
MINDSPRING ENTRPRISES INC SOLE 0 5400
MOTOROLA INC SOLE 12662 18439.65
MOTOROLA INC SOLE 4950 10633
NABORS IND SOLE 2200 10150
NABORS INDUS INC SOLE 14642 12979
NATIONAL AUSTRALIA BK SOLE 1995655 1430953
NATL DATA CORP SOLE 250 0
NATL SEMICONDUCTOR 144A SOLE 400 0
NETWORKS ASSOCS SOLE 6108 6078
NETWORKS ASSOCS 144A SOLE 15395 3625
NEW ERA OF NETWORKS INC SOLE 0 6200
NEW PLAN EXCEL REALTY TR SOLE 9000 0
NIKE INC-B SOLE 1085 48000
NINE WEST GROUP 144A SOLE 300 0
OAK INDS INC 144A(R) SOLE 300 0
OCCIDENTAL PETROLEUM (CXY) SOLE 19305 10345
OFFICE DEPOT INC SOLE 1500 5850
OFFICE DEPOT INC SOLE 44536 37125
OFFSHORE LOGISTIC SOLE 300 0
OMNICARE INC SOLE 250 0
OMNICARE INC 144A(R) SOLE 700 0
OMNICOM GROUP SOLE 625 0
ORYX ENERGY (KMG) SOLE 4390 0
OWENS-ILLINOIS INC SOLE 23080 11460
PACIFICARE HEALTH SYSTEMS-CL B SOLE 2268 2361
PARK ELECTROCHEMICAL CORP SOLE 2510 910
PECO ENERGY CO SOLE 1955 6315
PEP BOYS M M & J SOLE 300 0
PERSONNEL GROUP 144A(R) SOLE 300 0
PETSMART INC SOLE 6000 22200
PETSMART INC SOLE 1360 1996
PHILIPPINE LONG DIST SOLE 8000 0
PIER 1 IMPORTS SOLE 350 0
PIONEER FIN SVC SOLE 200 0
PLATINUM TECH SOLE 200 0
PLATINUM TECH 144A(R) SOLE 250 0
PMC - SIERRA INC SOLE 0 3800
POTOMAC ELECTRIC POWER SOLE 424 89
POTOMAC ELECTRIC POWER SOLE 1020 2673
PRIDE INTL INC SOLE 1000 0
PROCTER & GAMBLE CO SOLE 0 6922
PROLOGIS TRUST SOLE 144523 127143
<PAGE> 7
QUADRAMED CORP 5.25% Convertible Subordinated 74730WAC5
QUALCOMM INC COMMON STOCK 747525103
QUANTUM CORP 7% Convertible Subordinated no 747906AC9
QUINTILES TRANSNATIONAL 4.25% Convertible Subordinated 748767AC4
RECKSON ASSOC SERIES A 7.625% Convertible preferred s 75621K205
REINSURANCE GROUP OF AMERICA COMMON STOCK 759351109
RELIANT ENERGY COMMON STOCK 75952J108
RES CARE INC 144A(R) 6% Convertible Subordinated no 760943AA8
RES-CARE INC 6% Convertible Subordinated No 760943AC4
ROBBINS & MYERS 6.5% Convertible Subordinated 770196AA1
ROUSE CO EURO 5.75% CONVERTIBLE SUBORDINATED 779273AA9
ROUSE CO Series B (6%) 6% Convertible Preferred Stock 779273309
ROYAL CARIBBEAN CONVERTIBLE PREFERRED STOCK 7 V7780T111
ROYAL CARIBBEAN CRUISES, LTD. COMMON STOCK V7780T103
SAFEGUARD SCIENTIFICS-144A 6% CONVERTIBLE BONDS DUE 2006 786449AC2
SAFEWAY INC SAFEWAY INC COMMON STOCK 786514208
SCANDINAVIAN BROADCAST SYS CONVERTIBLE 805906AA2
SCHOLASTIC CORP 5% Convertible Subordinated De 807066AA3
SEACOR HOLDINGS 5.375% CONVERTIBLE BONDS DUE 1 811904AE1
SEACOR HOLDINGS 144A(R) 5.375% Convertible Subordinate 811904AC5
SEALED AIR CORP COMMON STOCK 81211K100
SEALED AIR CORP (W.R.GRACE) $2.00 Convertible Preferred St 81211K209
SEI CORP COMMON STOCK 784117103
SEPRACOR INC 144A(R) 7% Convertible Subordinated no 817315AF1
SILICON GRAPHICS 5.25% EXCH'D 5.25% Convertible notes due 20 827056AC6
SINCLAIR BROADC 6% Convertible Preferred stock 829226505
SPEEDWAY MOTOR COMMON 847788106
SPEEDWAY MOTORSPORTS 5.75% CONVERTIBLE BONDS DUE 9/ 847788AC0
ST PAUL COS INC (MIPS) 6% Convertible Monthly Income 792856205
SUNRISE ASSISTED LIVING 5.5% Convertible Notes Due 20 86768KAC0
SYSTEMS & COMPUTER TECH 5% Convertible Bonds due 2004 871873AB1
TALK.COM INC(TEL-SAVE.COM) 4.5% Convertible Subordinated 879176AC9
TARRANT APPAREL COMMON STOCK 876289109
TELECOM ITALIA SPA -SP ADR ADR 87927W106
TEXAS UTILITIES COMMON STOCK 882848104
THERMO ELECTRON 144K 4.25% Convertible Subordinated 883556AF9
THERMO INSTRMNT (NOT 144A) 4% Convertible notes due 2005 883559AE6
THERMO INSTRMNT 144A 4.5% Senior Convertible Debent 883559AC0
TOMMY HILFIGER COMMON STOCK G8915Z102
TOTAL RENAL CARE 144A(R) 7% Convertible Subordinated No 89151AAA5
TOWER AUTOMOTIVE 5% Convertible Subordinated No 891707AE1
TRICOM GBL REST COMMON STOCK 895953107
UNISYS CORP. (BURROUGHS) $3.75 SERIES A CONVERTIBLE PRE 909214207
US CELLULAR Liquid Yield Option Notes 911684AA6
US FILTER CORP 4.5% CONVERTIBLE SUBORDINATED 911843AF7
UTD BRANDS (CHIQUITA) $2.875 NON-VOTING CUMULATIVE P 170032403
QUADRAMED CORP 1166 2029 SH
QUALCOMM INC 808 6495 SH
QUANTUM CORP 399 450 SH
QUINTILES TRANSNATIONAL 22607 20932 SH
RECKSON ASSOC SERIES A 306 15000 SH
REINSURANCE GROUP OF AMERICA 287 6750 SH
RELIANT ENERGY 284 10890 SH
RES CARE INC 144A(R) 381 300 SH
RES-CARE INC 516 406 SH
ROBBINS & MYERS 416 470 SH
ROUSE CO EURO 30593 32331 SH
ROUSE CO Series B (6%) 17625 473155 SH
ROYAL CARIBBEAN 49315 402986 SH
ROYAL CARIBBEAN CRUISES, LTD. 204 5220 SH
SAFEGUARD SCIENTIFICS-144A 467 200 SH
SAFEWAY INC 236 4600 SH
SCANDINAVIAN BROADCAST SYS 448 400 SH
SCHOLASTIC CORP 216 225 SH
SEACOR HOLDINGS 16019 15808 SH
SEACOR HOLDINGS 144A(R) 3607 3560 SH
SEALED AIR CORP 261 5300 SH
SEALED AIR CORP (W.R.GRACE) 21705 438485 SH
SEI CORP 305 3300 SH
SEPRACOR INC 144A(R) 1400 1200 SH
SILICON GRAPHICS 5.25% EXCH'D 395 450 SH
SINCLAIR BROADC 289 7000 SH
SPEEDWAY MOTOR 236 5725 SH
SPEEDWAY MOTORSPORTS 562 394 SH
ST PAUL COS INC (MIPS) 1570 27065 SH
SUNRISE ASSISTED LIVING 536 400 SH
SYSTEMS & COMPUTER TECH 10216 14189 SH
TALK.COM INC(TEL-SAVE.COM) 343 500 SH
TARRANT APPAREL 265 6300 SH
TELECOM ITALIA SPA -SP ADR 240 2300 SH
TEXAS UTILITIES 324 7765 SH
THERMO ELECTRON 144K 13922 15660 SH
THERMO INSTRMNT (NOT 144A) 23496 29052 SH
THERMO INSTRMNT 144A 6813 7520 SH
TOMMY HILFIGER 282 4100 SH
TOTAL RENAL CARE 144A(R) 225 300 SH
TOWER AUTOMOTIVE 649 685 SH
TRICOM GBL REST 337 4800 SH
UNISYS CORP. (BURROUGHS) 2676 51583 SH
US CELLULAR 90608 196070 SH
US FILTER CORP 987 1000 SH
UTD BRANDS (CHIQUITA) 588 15490 SH
QUADRAMED CORP SOLE 944 1085
QUALCOMM INC SOLE 1050 5445
QUANTUM CORP SOLE 450 0
QUINTILES TRANSNATIONAL SOLE 10557 10375
RECKSON ASSOC SERIES A SOLE 15000 0
REINSURANCE GROUP OF AMERICA SOLE 0 6750
RELIANT ENERGY SOLE 3080 7810
RES CARE INC 144A(R) SOLE 300 0
RES-CARE INC SOLE 71 335
ROBBINS & MYERS SOLE 80 390
ROUSE CO EURO SOLE 17158 15173
ROUSE CO Series B (6%) SOLE 309829 163326
ROYAL CARIBBEAN SOLE 251715 151271
ROYAL CARIBBEAN CRUISES, LTD. SOLE 3985 1235
SAFEGUARD SCIENTIFICS-144A SOLE 200 0
SAFEWAY INC SOLE 0 4600
SCANDINAVIAN BROADCAST SYS SOLE 400 0
SCHOLASTIC CORP SOLE 225 0
SEACOR HOLDINGS SOLE 6418 9390
SEACOR HOLDINGS 144A(R) SOLE 3035 525
SEALED AIR CORP SOLE 850 4450
SEALED AIR CORP (W.R.GRACE) SOLE 342665 95820
SEI CORP SOLE 0 3300
SEPRACOR INC 144A(R) SOLE 1200 0
SILICON GRAPHICS 5.25% EXCH'D SOLE 450 0
SINCLAIR BROADC SOLE 7000 0
SPEEDWAY MOTOR SOLE 1000 4725
SPEEDWAY MOTORSPORTS SOLE 139 255
ST PAUL COS INC (MIPS) SOLE 16100 10965
SUNRISE ASSISTED LIVING SOLE 400 0
SYSTEMS & COMPUTER TECH SOLE 7714 6475
TALK.COM INC(TEL-SAVE.COM) SOLE 500 0
TARRANT APPAREL SOLE 0 6300
TELECOM ITALIA SPA -SP ADR SOLE 0 2300
TEXAS UTILITIES SOLE 2045 5720
THERMO ELECTRON 144K SOLE 8349 7311
THERMO INSTRMNT (NOT 144A) SOLE 14730 14322
THERMO INSTRMNT 144A SOLE 6160 1360
TOMMY HILFIGER SOLE 0 4100
TOTAL RENAL CARE 144A(R) SOLE 300 0
TOWER AUTOMOTIVE SOLE 685 0
TRICOM GBL REST SOLE 0 4800
UNISYS CORP. (BURROUGHS) SOLE 39916 11667
US CELLULAR SOLE 105124 90946
US FILTER CORP SOLE 1000 0
UTD BRANDS (CHIQUITA) SOLE 6305 9185
<PAGE> 8
VERISIGN INC COMMON STOCK 92343E102
VERITAS SOFTWRE 5.25% CONVERTIBLE SUBORDINATED 923436AB5
VETERINARY CTRS 5.25% CONVERTIBLE BONDS DUE 20 925514AB7
VIACOM INC CL A VIACOM INC CL A COMMON STOCK 925524100
VISX INC COMMON STOCK 92844S105
VORNADO RLTY TST -SERIES A 6.5% CONVERTIBLE PREFERRED STO 929042208
WACKENHUT CORP -CL A COMMON 929794105
WANG LABORATORIES CONVERTIBLE PREFERRED STOCK 93369N604
WASHINGTON MUTUAL INC COMMON STOCK 939322103
WASTE MGT INC COMMON STOCK 94106L109
WASTE MGT INC 4% Convertible Subordinated No 94106LAA7
WASTE MGT INC (WMX TECH INC) 2% CONVERTIBLE SUBORDINATED NO 92929QAF4
WENDYS INTL (TECONs) Series A 950588202
WHOLE FOODS MKT Zero Coupon Convertible Subord 966837AC0
WHOLE FOODS MKT 144A(R) Zero Coupon Convertible Subord 966837AA4
WHX CORP $3.75 SERIES B CONVERTIBLE PRE 929248300
WORLD COLOR PRESS 6% Convertible Notes due 2007 981443AA2
YAHOO! INC COMMON STOCK 984332106
VERISIGN INC 539 3500 SH
VERITAS SOFTWRE 372 180 SH
VETERINARY CTRS 482 634 SH
VIACOM INC CL A 325 3900 SH
VISX INC 366 3400 SH
VORNADO RLTY TST -SERIES A 26289 536518 SH
WACKENHUT CORP -CL A 967 43469 SH
WANG LABORATORIES 817 17380 SH
WASHINGTON MUTUAL INC 367 8983 SH
WASTE MGT INC 220 4950 SH
WASTE MGT INC 11720 10147 SH
WASTE MGT INC (WMX TECH INC) 987 1028 SH
WENDYS INTL (TECONs) 6498 108182 SH
WHOLE FOODS MKT 19808 60025 SH
WHOLE FOODS MKT 144A(R) 3762 11400 SH
WHX CORP 1259 35465 SH
WORLD COLOR PRESS 481 541 SH
YAHOO! INC 320 1900 SH
VERISIGN INC SOLE 0 3500
VERITAS SOFTWRE SOLE 180 0
VETERINARY CTRS SOLE 284 350
VIACOM INC CL A SOLE 0 3900
VISX INC SOLE 0 3400
VORNADO RLTY TST -SERIES A SOLE 225854 310664
WACKENHUT CORP -CL A SOLE 17840 25629
WANG LABORATORIES SOLE 8475 8905
WASHINGTON MUTUAL INC SOLE 5534 3449
WASTE MGT INC SOLE 850 4100
WASTE MGT INC SOLE 4506 5641
WASTE MGT INC (WMX TECH INC) SOLE 1000 28
WENDYS INTL (TECONs) SOLE 44809 63373
WHOLE FOODS MKT SOLE 38420 21605
WHOLE FOODS MKT 144A(R) SOLE 11400 0
WHX CORP SOLE 24355 11110
WORLD COLOR PRESS SOLE 510 31
YAHOO! INC SOLE 0 1900
