<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 June 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: CALAMOS ASSET MANAGEMENT, INC.
Address: 1111 East Warrenville Road
Naperville, Illinois 60563-1493
Form 13F File Number: 28-2864
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: Senior Vice President & General Counsel
Phone: (630) 245-7200
Signature, Place, and Date of Signing:
/s/ James S. Hamman, Jr. Naperville, Illinois 8/11/00
------------------------ -------------------- -------
[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: 311
Form 13F Information Table Value Total: 2,244,111
(thousands)
<PAGE> 3
FORM 13F INFORMATION TABLE
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4
VALUE
NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000)
------------------------------------------------------------------------------------------
<S> <C> <C> <C>
ADT OPERATIONS (LYONS) LIQUID YIELD OPTION NOTES DUE 000945AC9 1,777
AES Trust II (TECONS) 144A(R) 5.5% Convertible TECONS due 20 001034206 575
AES Trust II (TECONS) SERIES B 5.5% Convertible TECONS due 20 001034305 45,777
AMER CLASSIC VOY 7% Convertible Preferred Stock 001648203 13,509
ABGENIX INC COMMON STOCK 00339B107 958
ADAPTEC INC (4.75) 4.75% Convertible Bond due 200 00651FAC2 276
ADECCO SA ADR 006754105 265
ADVO INC COMMON STOCK 007585102 2,898
ADVANCED ENERGY IND 5.25% Convertible Debentures d 007973AA8 6,712
AETHER SYSTEMS COMMON STOCK 00808V105 527
AETHER SYSTEMS 6% CONVERTIBLE SUBORDINATED DE 00808VAA3 1,074
AFFILIATED COMPUTER SVCS -A COMMON STOCK CLASS A SHARES P 008190100 767
AFFILIATED COMP SRVCS 144A(R) 4% Convertible Subordinated No 008190AC4 244
AFFILIATED COMP REGISTERED 4% Convertible Subordinated No 008190AD2 10,342
AFFYMETRIX INC 144A(R) 5.0% Convertible Notes due 200 00826TAA6 588
AFFYMETRIX INC 144A(R) 4.75% 4.75% Convertible Sub Notes du 00826TAC2 214
AGNICO-EAGLE MINES 3.5% Convertible bonds due 200 008474AA6 201
ALEXION PHARMA 144A(R) 5.75% CONVERTIBLE SUBORDINATED 015351AA7 396
ALKERMES INC 6.5% Convertible Preferred Sto 01642T405 2,616
ALKERMES INC 144A(R)3.75% 3.75% CONVERTIBLE SUBORDINATED 01642TAA6 300
ALKERMES INC 3.75% 3.75% CONVERTIBLE SUBORDINATED 01642TAB4 343
ALLIANCE CAP LTD PARTNERSHIP 01855A101 1,000
ALPHARMA INC 144A(R) 5.75% Convertible Subordinated 020813AA9 877
ALPHARMA INC 144A(R) 3% Senior Subordinated Convert 020813AC5 1,604
ALZA CORP LIQUID YIELD OPTION NOTES DUE 022615AC2 125,523
ALZA CORP 5% Convertible Subordinated De 022615AD0 59,217
AMAZON.COM INC COMMON STOCK 023135106 641
AMERICA ONLINE 144A 4% Convertible Bonds due 2002 02364JAA2 3,240
AMERICA ONLINE 0% Zero Coupon Convertible Subord 02364JAC8 1,379
AMER GENERAL (MIPS) CONVERTIBLE MIPS, SERIES A 02637G200 647
AMERICAN TOWER COMMON STOCK 029912201 741
AMER TOWER CORP 144A 6.25% Convertible Notes issued 029912AA0 1,109
AMER TOWER CORP OID 2.25% Convertible OID 029912AD4 454
AMER TOWER CORP 144A(R)5% 5% Convertible Sub notes due 2 029912AE2 2,325
ANALOG DEVICES COMMON STOCK 032654105 858
ANAREN MICROWAVE INC COMMON STOCK 032744104 1,003
ANDRX CORP COMMON STOCK 034551101 6,929
ANTEC CORP 144A(R) 4.5% Convertible Bonds due 200 03664PAA3 538
APACHE CORP (ACES) 6.50% Automatically Convertibl 037411600 5,011
APARTMENT INVT&MGMT (STEP-UP) 8% Convertible Preferred STEP- 03748R705 213
APPLIED FILMS COMMON STOCK 038197109 695
ARCHSTONE COMUN $1.75 SERIES A CONVERTIBLE PRE 039581202 266
ARKANSAS BEST CORP COMMON STOCK 040790107 425
ARKANSAS BEST CORPORATION $2.875 SERIES A CUMULATIVE CON 040790206 7,340
AT HOME CORP 144A(R) OID .5246% CONVERTIBLE SUBORDINATE 045919AA5 319
AT HOME CORP 144A(R) 4.75% Convertible Subordinated 045919AD9 564
ATMEL CORP 144A(R) 0% Convertible Subordinated de 049513AB0 13,969
ATMEL CORP REGISTERED 0% Convertible Subordinated de 049513AC8 39,266
AURORA BIOSCIENCES CORP COMMON STOCK 051920106 886
AUTOMATIC DATA PROC COMMON STOCK 053015103 630
BAKER HUGHES LIQUID YIELD OPTION NOTES DUE 057224AH0 15,343
BARRA INC COMMON STOCK 068313105 743
</TABLE>
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
--------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
ADT OPERATIONS (LYONS) 700 SH SOLE None 0 700
AES Trust II (TECONS) 144A(R) 7000 SH SOLE None 7000 0
AES Trust II (TECONS) SERIES B 556560 SH SOLE None 340175 216385
AMER CLASSIC VOY 323590 SH SOLE None 253065 70525
ABGENIX INC 8000 SH SOLE None 8000 0
ADAPTEC INC (4.75) 325 SH SOLE None 316 9
ADECCO SA 2500 SH SOLE None 2500 0
ADVO INC 69000 SH SOLE None 58955 10045
ADVANCED ENERGY IND 4945 SH SOLE None 4654 291
AETHER SYSTEMS 2575 SH SOLE None 1650 925
AETHER SYSTEMS 1010 SH SOLE None 650 360
AFFILIATED COMPUTER SVCS -A 23225 SH SOLE None 15750 7475
AFFILIATED COMP SRVCS 144A(R) 250 SH SOLE None 250 0
AFFILIATED COMP REGISTERED 10591 SH SOLE None 8222 2369
AFFYMETRIX INC 144A(R) 400 SH SOLE None 400 0
AFFYMETRIX INC 144A(R) 4.75% 275 SH SOLE None 275 0
AGNICO-EAGLE MINES 300 SH SOLE None 300 0
ALEXION PHARMA 144A(R) 470 SH SOLE None 270 200
ALKERMES INC 16360 SH SOLE None 9690 6670
ALKERMES INC 144A(R)3.75% 350 SH SOLE None 350 0
ALKERMES INC 3.75% 400 SH SOLE None 400 0
ALLIANCE CAP 21100 SH SOLE None 21100 0
ALPHARMA INC 144A(R) 400 SH SOLE None 400 0
ALPHARMA INC 144A(R) 807 SH SOLE None 807 0
ALZA CORP 160853 SH SOLE None 105762 55091
ALZA CORP 38375 SH SOLE None 22192 16183
AMAZON.COM INC 17675 SH SOLE None 12800 4875
AMERICA ONLINE 144A 400 SH SOLE None 400 0
AMERICA ONLINE 0% 2715 SH SOLE None 2700 15
AMER GENERAL (MIPS) 8300 SH SOLE None 8300 0
AMERICAN TOWER 17775 SH SOLE None 13625 4150
AMER TOWER CORP 144A 600 SH SOLE None 600 0
AMER TOWER CORP OID 350 SH SOLE None 350 0
AMER TOWER CORP 144A(R)5% 2270 SH SOLE None 1950 320
ANALOG DEVICES 11300 SH SOLE None 11300 0
ANAREN MICROWAVE INC 7650 SH SOLE None 7650 0
ANDRX CORP 108405 SH SOLE None 77320 31085
ANTEC CORP 144A(R) 300 SH SOLE None 300 0
APACHE CORP (ACES) 96845 SH SOLE None 56265 40580
APARTMENT INVT&MGMT (STEP-UP) 8000 SH SOLE None 8000 0
APPLIED FILMS 19000 SH SOLE None 19000 0
ARCHSTONE COMUN 8600 SH SOLE None 5440 3160
ARKANSAS BEST CORP 42775 SH SOLE None 25775 17000
ARKANSAS BEST CORPORATION 188220 SH SOLE None 115425 72795
AT HOME CORP 144A(R) OID 700 SH SOLE None 700 0
AT HOME CORP 144A(R) 800 SH SOLE None 800 0
ATMEL CORP 144A(R) 13226 SH SOLE None 12621 605
ATMEL CORP REGISTERED 37175 SH SOLE None 21215 15960
AURORA BIOSCIENCES CORP 13000 SH SOLE None 13000 0
AUTOMATIC DATA PROC 11766 SH SOLE None 11766 0
BAKER HUGHES 19959 SH SOLE None 11688 8271
BARRA INC 15000 SH SOLE None 15000 0
</TABLE>
<PAGE> 4
FORM 13F INFORMATION TABLE
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4
VALUE
NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000)
-----------------------------------------------------------------------------------------
<S> <C> <C> <C>
BEA SYSTEMS INC 144A(R) 4% Convertible Subordinated no 073325AC6 1,105
BETHLEHEM STEEL $5.00 SERIES CONVERTIBLE PREFE 087509303 377
BIOVAIL CORP COMMON STOCK 09067J109 812
BIOVAIL CORP 6.75% CONVERTIBLE PREFERRED ST 09067J208 15,679
BOEING CO COMMON STOCK 097023105 4,211
BRAUNS FASHIONS CORP COMMON STOCK 105658108 1,467
BRIGHTPOINT INC REGISTERED LYONS DUE 2018 109473AC2 202
BRIT AIR ADR ADR 2nd Instal 110419306 333
BROADWING INC (old CSN) Common 111620100 516
BROADWING INC 6.75% Series B 6.75% Convertible Preferred st 111620407 2,328
BROOKS AUTOMAT Common 11434A100 939
BURR BROWN CORP 144A(R) 4.25% CONVERTIBLE SUBORDINATED 122574AD8 2,683
C&D TECH INC COMMON STOCK 124661109 5,394
CNF TRANSPORT (TECONS) 5% Convertible preferred TECON 12612V205 891
CNF TRANSPORTATION INC COMMON STOCK 12612W104 322
CV THERAPEUTICS 144A(R) 4.75% CONVERTIBLE SUBORDINATED 126667AA2 11,097
CALPINE CORP COMMON STOCK 131347106 1,683
CHARMING SHOPPE 7.50% Convertible Subordinated 161133AA1 220
CHECKFREE HLDGS 144A(R) 6.50% Convertible Subordinated 162816AA0 290
CHECKPOINT SYSTEMS 5.25% CONVERTIBLE BONDS DUE 20 162825AB9 2,318
CHIEFTAIN INTL $1.8125 Conv. Redeemable Pfd. 168672202 830
CHIRON CORP 1.90% CONVERTIBLE SUBORDINATED 170040AB5 22,963
CIENA CORP COMMON STOCK 171779101 12,335
CINCINNATI FINANCIAL CORP 5.50% CONVERTIBLE SENIOR DEBEN 172062AB7 465
CISCO SYSTEMS INC COMMON STOCK 17275R102 432
CITIZENS UTILITIES CO (EPPICS) EPPICS (Equity Providing Prefe 177351202 17,691
CITRIX SYS INC 144A(R) 0% CONVERTIBLE SUBORDINATED NO 177376AA8 578
BF GOODRICH CP TRUST(TIDES) 5.25% TERM DEFERRABLE EQTY SEC 196878409 5,458
COMCAST (SPRINT PCS) ZONES 2% ZERO PREMIUM OPTION NOTES E 200300507 1,197
COMMSCOPE INC 144A(R) 4% Convertible Subordinated no 203372AA5 21,469
COMMSCOPE INC 4% Convertible Subordinated no 203372AB3 16,970
COMVERSE TECH 4.5% Subordinated Debentures d 205862AF2 1,787
COMVERSE TECH 4.5% Subordinated Debentures d 205862AG0 427
CONCORD CAMERA CORP COMMON STOCK 206156101 709
CONEXANT SYSTEMS 144A(R) 4.25% Convertible Subordinated 207142AA8 988
CONEXANT SYSTEMS 4.25% Convertible Subordinated 207142AB6 285
CONEXANT SYSTEMS 144A(R) 4% Convertible Subordinated no 207142AD2 18,924
CONEXANT SYSTEMS 4% Convertible Subordinated no 207142AF7 45,318
COR THERAPEUTIC 144A(R) 5% CONVERTIBLE SUBORDINATED BO 217753AC6 699
CORSAIR COMMUNICATIONS COMMON STOCK 220406102 428
CREDENCE SYSTEMS CORP COMMON STOCK 225302108 728
CREDENCE SYS CP 144A(R) 5.25% Convertible Subordinated 225302AA6 329
CYBEROPTICS COMMON STCKS 232517102 730
CYMER INC REGISTERED 3.50% Coupon till 2000 then 7. 232572AC1 225
CYPRESS SEMICONDUCTOR CORP COMMON 232806109 349
CYPRESS SEMICON 6% Convertible Subordinated no 232806AD1 546
CYPRESS SEMICONDUCTOR 4% Convertible Subordinated No 232806AE9 69,322
DSP GROUP INC COMMON STOCK 23332B106 985
DIAMOND OFFSHORE DRILLING 3.75 Convertible Subordinated 25271CAA0 19,693
DIGITAL LIGHTWV COMMON STOCK 253855100 1,407
DIODES INC COMMON STOCK 254543101 621
DISNEY WALT CO COMMON STOCK 254687106 2,534
DOUBLECLICK INC COMMON STOCK 258609304 1,082
DOUBLECLICK INC 144A(R) 4.75% CONVERTIBLE NOTES DUE 20 258609AA4 291
DOUBLECLICK INC 4.75% CONVERTIBLE NOTES DUE 20 258609AC0 1,532
E-TEK DYNAMICS COMMON STOCK 269240107 1,345
EL PASO ENER CAP TRUST I 4.75% Trust Convertible Prefer 283678209 2,462
ELANTEC SEMICON COMMON STOCK 284155108 1,127
</TABLE>
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
---------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
BEA SYSTEMS INC 144A(R) 700 SH SOLE None 700 0
BETHLEHEM STEEL 10000 SH SOLE None 10000 0
BIOVAIL CORP 14650 SH SOLE None 8900 5750
BIOVAIL CORP 89690 SH SOLE None 248995 40695
BOEING CO 100730 SH SOLE None 100730 0
BRAUNS FASHIONS CORP 40000 SH SOLE None 40000 0
BRIGHTPOINT INC REGISTERED 600 SH SOLE None 600 0
BRIT AIR ADR 5800 SH SOLE None 5800 0
BROADWING INC (old CSN) 19900 SH SOLE None 17800 2100
BROADWING INC 6.75% Series B 49535 SH SOLE None 30785 18750
BROOKS AUTOMAT 14700 SH SOLE None 14700 0
BURR BROWN CORP 144A(R) 1590 SH SOLE None 1590 0
C&D TECH INC 95485 SH SOLE None 65075 30410
CNF TRANSPORT (TECONS) 22650 SH SOLE None 14900 7750
CNF TRANSPORTATION INC 14175 SH SOLE None 9350 4825
CV THERAPEUTICS 144A(R) 9229 SH SOLE None 8854 375
CALPINE CORP 25600 SH SOLE None 25600 0
CHARMING SHOPPE 250 SH SOLE None 250 0
CHECKFREE HLDGS 144A(R) 300 SH SOLE None 300 0
CHECKPOINT SYSTEMS 3590 SH SOLE None 3086 504
CHIEFTAIN INTL 31775 SH SOLE None 16290 15485
CHIRON CORP 13603 SH SOLE None 6260 7343
CIENA CORP 74005 SH SOLE None 73961 44
CINCINNATI FINANCIAL CORP 200 SH SOLE None 200 0
CISCO SYSTEMS INC 6800 SH SOLE None 0 6800
CITIZENS UTILITIES CO (EPPICS) 262580 SH SOLE None 111175 151405
CITRIX SYS INC 144A(R) 1600 SH SOLE None 1600 0
BF GOODRICH CP TRUST(TIDES) 128430 SH SOLE None 27140 101290
COMCAST (SPRINT PCS) ZONES 10440 SH SOLE None 5005 5435
COMMSCOPE INC 144A(R) 18840 SH SOLE None 16205 2635
COMMSCOPE INC 14892 SH SOLE None 7638 7254
COMVERSE TECH 410 SH SOLE None 360 50
COMVERSE TECH 98 SH SOLE None 75 23
CONCORD CAMERA CORP 34000 SH SOLE None 34000 0
CONEXANT SYSTEMS 144A(R) 450 SH SOLE None 450 0
CONEXANT SYSTEMS 130 SH SOLE None 130 0
CONEXANT SYSTEMS 144A(R) 24185 SH SOLE None 22675 1510
CONEXANT SYSTEMS 57915 SH SOLE None 34279 23636
COR THERAPEUTIC 144A(R) 500 SH SOLE None 500 0
CORSAIR COMMUNICATIONS 14900 SH SOLE None 14900 0
CREDENCE SYSTEMS CORP 13200 SH SOLE None 13200 0
CREDENCE SYS CP 144A(R) 200 SH SOLE None 200 0
CYBEROPTICS 15800 SH SOLE None 15800 0
CYMER INC REGISTERED 200 SH SOLE None 200 0
CYPRESS SEMICONDUCTOR CORP 8275 SH SOLE None 5350 2925
CYPRESS SEMICON 300 SH SOLE None 300 0
CYPRESS SEMICONDUCTOR 59313 SH SOLE None 40710 18603
DSP GROUP INC 17600 SH SOLE None 17600 0
DIAMOND OFFSHORE DRILLING 19074 SH SOLE None 8721 10353
DIGITAL LIGHTWV 14000 SH SOLE None 14000 0
DIODES INC 14500 SH SOLE None 14500 0
DISNEY WALT CO 65310 SH SOLE None 65185 125
DOUBLECLICK INC 28400 SH SOLE None 19000 9400
DOUBLECLICK INC 144A(R) 270 SH SOLE None 270 0
DOUBLECLICK INC 1420 SH SOLE None 950 470
E-TEK DYNAMICS 5100 SH SOLE None 5100 0
EL PASO ENER CAP TRUST I 38250 SH SOLE None 13250 25000
ELANTEC SEMICON 16200 SH SOLE None 16200 0
</TABLE>
<PAGE> 5
FORM 13F INFORMATION TABLE
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4
VALUE
NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000)
------------------------------------------------------------------------------------------
<S> <C> <C> <C>
EMCOR GROUP INC Common 29084Q100 774
EMCOR GROUP INC 5.75% Convertible Subordinated 29084QAC4 1,616
EMMIS COMM SERIES A 6.25% Convertible Preferred 291525202 1,404
ENRON CORP PFD 2CV $10.50 293561601 3,796
EQUITY RES PROP REIT PFD Conv E 7% 29476L107 13,688
EQUITY RES PROPS 7.25% Convertible Preferred st 29476L859 28,456
EQUITY RES PROPS 7% Convertible preferred 29476L883 286
FEI COMPANY COMMON STOCK 30241L109 1,555
FEDERAL HOME LOAN MTG CORP COMMON STOCK 313400301 1,255
FINANCIAL FEDERAL CORP COMMON STOCK 317492106 285
FINL FED CORP 144A(R) 4.5% Convertible Subordinated 317492AA4 3,438
FINL FED CORP 4.5% Convertible Subordinated 317492AC0 17,532
FIRSTAR CP NEW COMMON STOCK 33763V109 591
FOUR SEASON-TS 0.00% CONVERTIBLE BOND DUE 09/ 35100EAD6 31,066
GANNETT INC COMMON STOCK 364730101 2,059
GENL SEMICONDUCTOR 144A(R) 5.75% Convertible Subordinated 370787AA1 337
GENESCO INC REGISTERED 5.50% Convertible Subordinated 371532AL6 401
GENZYME CORP144A+2.7285 GZMO 5.25% Convertible Subordinated 372917AE4 1,037
GETTY IMAGES 144A(R) 5% 5% CONVERTIBLE SUBORDINATED DE 374276AD5 500
HNC SOFTWARE INC 4.75% Convertible Subordinated 40425PAA5 357
HS RESOURCES COMMON STOCK 404297103 947
HEWLETT PKD (LYONS) CONVERTIBLE SUBORDINATED (LYON 428236AC7 181,557
HILTON HOTELS 5% CONVERTIBLE SUBORDINATED DE 432848AL3 374
Hitachi Ltd.-SPONS ADR Hitachi ADR 433578507 216
HUMAN GENOME 144A(R) 5% Convertible Subordinated no 444903AE8 458
INCO LTD (DIAMOND FIELDS) 5.5% 8/21/06 SERIES E CONVERTI 453258808 2,287
INCO LTD 5.75% Convertible Debentures D 453258AK1 4,572
INCYTE GENOMICS INC 144A(R) 5.50% Convertible Sub. Notes d 45337CAA0 413
INTEL CORP COMMON STOCK 458140100 398
INTERIM SERVICES 4.5% Convertible Subordinated 45868PAA8 33,649
INTERNATIONAL PAPER COMMON STOCK 460146103 708
INTL RECTIFIER CORP COMMON STOCK 460254105 1,456
INTERNET CAP GRP 5.50% Convertible Subordinated 46059CAA4 613
INTERPUBLIC GRP OID 144A(R) 1.8% Convertible Subordinated 460690AD2 6,280
INTERPUBLIC GRP 1.8% CONVERTIBLE SUBORDINATED 460690AF7 28,468
INTERPUBLIC GRP 144A(R) 1.87% Subordinated notes due 2 460690AG5 22,879
INTERPUBLIC GRP 1.87 REGISTERED 1.87% Subordinated notes due 2 460690AJ9 12,540
INVITROGEN 144A(R) 5.50% CONVERTIBLE SUBORDINATED 46185RAA8 313
I2 TECHNOLOGIES 144A(R) 5.25% Convertible Subordinated 465754AD1 16,810
I2 TECHNOLOGIES 5.25% Convertible Subordinated 465754AF6 301
IVAX CORP COMMON STOCK 465823102 9,625
IVAX CORP 144A(R) 5.50% Convertible Notes due 20 465823AB8 20,559
JONES PHARMA COMMON STOCK 480236108 1,198
JUNIPER NETWRKS COMMON STOCK 48203R104 1,153
JUNIPER NETWRKS 4.75% CONVERTIBLE SUBORDINATED 48203RAA2 81,448
KEITHLEY INSTRUMENTS INC COMMON STOCK 487584104 1,045
KENT ELECTRONIC 4.5% Convertible Subordinated 490553AA2 7,602
KERR-MCGEE CORP 7.50% Subordinated Debentures 492386AL1 887
KERR-MCGEE CORP 5.25% 5.25% Convertible Sub Notes du 492386AP2 24,627
K MART FINANCING 7.75% 6/15/16 SERIES 498778208 455
KONINKLIJKE(PHILIPS ELECTRONI) NY REG SHARES 500472204 367
KULICKE & SOFFA INDUSTRIES COMMON STOCK 501242101 1,848
KULICKE & SOFFA 144A(R) 4.75% Convertible Subordinated 501242AC5 436
KULICKE & SOFFA 4.75% Convertible Subordinated 501242AE1 1,621
LSI LOGIC COMMON STOCK 502161102 715
LSI LOGIC 144A(R) 4.25% Convertible Notes due 20 502161AB8 2,112
LSI LOGIC 4% 4% Convertible Sub Notes due 2 502161AE2 71,459
LTX CORP COMMON STOCK 502392103 454
</TABLE>
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
--------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
EMCOR GROUP INC 33400 SH SOLE None 22000 11400
EMCOR GROUP INC 1670 SH SOLE None 1150 520
EMMIS COMM SERIES A 23610 SH SOLE None 11495 12115
ENRON CORP 2156 SH SOLE None 961 1195
EQUITY RES PROP 297570 SH SOLE None 68170 129400
EQUITY RES PROPS 1264735 SH SOLE None 25945 538790
EQUITY RES PROPS 11126 SH SOLE None 6361 4765
FEI COMPANY 51000 SH SOLE None 51000 0
FEDERAL HOME LOAN MTG CORP 31000 SH SOLE None 31000 0
FINANCIAL FEDERAL CORP 16425 SH SOLE None 9275 7150
FINL FED CORP 144A(R) 4305 SH SOLE None 3880 425
FINL FED CORP 21953 SH SOLE None 15984 5969
FIRSTAR CP NEW 28071 SH SOLE None 0 28071
FOUR SEASON-TS 88761 SH SOLE None 69323 19438
GANNETT INC 34440 SH SOLE None 34000 440
GENL SEMICONDUCTOR 144A(R) 300 SH SOLE None 300 0
GENESCO INC REGISTERED 430 SH SOLE None 430 0
GENZYME CORP144A+2.7285 GZMO 625 SH SOLE None 625 0
GETTY IMAGES 144A(R) 5% 600 SH SOLE None 600 0
HNC SOFTWARE INC 250 SH SOLE None 250 0
HS RESOURCES 31575 SH SOLE None 31575 0
HEWLETT PKD (LYONS) 191650 SH SOLE None 20139 71511
HILTON HOTELS 474 SH SOLE None 474 0
Hitachi Ltd.-SPONS ADR 1500 SH SOLE None 1500 0
HUMAN GENOME 144A(R) 350 SH SOLE None 350 0
INCO LTD (DIAMOND FIELDS) 61815 SH SOLE None 24140 37675
INCO LTD 5073 SH SOLE None 4550 523
INCYTE GENOMICS INC 144A(R) 500 SH SOLE None 500 0
INTEL CORP 2980 SH SOLE None 2650 330
INTERIM SERVICES 43413 SH SOLE None 31100 12313
INTERNATIONAL PAPER 23750 SH SOLE None 17050 6700
INTL RECTIFIER CORP 26000 SH SOLE None 26000 0
INTERNET CAP GRP 900 SH SOLE None 900 0
INTERPUBLIC GRP OID 144A(R) 5245 SH SOLE None 4840 405
INTERPUBLIC GRP 23774 SH SOLE None 12376 11398
INTERPUBLIC GRP 144A(R) 23652 SH SOLE None 22542 1110
INTERPUBLIC GRP 1.87 REGISTERD 12964 SH SOLE None 6089 6875
INVITROGEN 144A(R) 300 SH SOLE None 300 0
I2 TECHNOLOGIES 144A(R) 10877 SH SOLE None 10410 467
I2 TECHNOLOGIES 195 SH SOLE None 163 32
IVAX CORP 231945 SH SOLE None 75235 56710
IVAX CORP 144A(R) 15710 SH SOLE None 14610 1100
JONES PHARMA 30000 SH SOLE None 30000 0
JUNIPER NETWRKS 7925 SH SOLE None 6750 1175
JUNIPER NETWRKS 73691 SH SOLE None 52057 21634
KEITHLEY INSTRUMENTS INC 12000 SH SOLE None 12000 0
KENT ELECTRONIC 8738 SH SOLE None 4960 3778
KERR-MCGEE CORP 932 SH SOLE None 915 17
KERR-MCGEE CORP 5.25% 21407 SH SOLE None 12889 8518
K MART FINANCING 12500 SH SOLE None 12500 0
KONINKLIJKE(PHILIPS ELECTRONI) 7728 SH SOLE None 7728 0
KULICKE & SOFFA INDUSTRIES 31130 SH SOLE None 31100 30
KULICKE & SOFFA 144A(R) 300 SH SOLE None 300 0
KULICKE & SOFFA 1115 SH SOLE None 1073 42
LSI LOGIC 13225 SH SOLE None 9125 4100
LSI LOGIC 144A(R) 600 SH SOLE None 600 0
LSI LOGIC 4% 67855 SH SOLE None 47966 19889
LTX CORP 13000 SH SOLE None 13000 0
</TABLE>
<PAGE> 6
FORM 13F INFORMATION TABLE
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4
VALUE
NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000)
------------------------------------------------------------------------------------------
<S> <C> <C> <C>
LABORATORY CP (TOPR-like) 8.50% Trust Convertible prefer 50540R201 448
LAM RESEARCH 144A(R) 5% Convertible Subordinated no 512807AB4 346
LAMAR ADVER CO COMMON STOCK 512815101 1,231
LAMAR ADVER CO 5.25% CONVERTIBLE NOTES DUE 20 512815AF8 1,701
LATTICE SEMICONDUCTOR COMMON STOCK 518415104 3,581
LATTICE SEMICONDUCTOR 144A(R) 4.75% Convertible Subordinated 518415AA2 811
LEARNING TREE COMMON STOCK 522015106 7,875
LENNAR CORP OID Zero Coupon Convertible Debent 526057AA2 1,193
LEVEL 3 COMM COMMON STOCK 52729N100 431
LIZ CLAIBORNE INC LIZ CLAIBORNE INC COMMON STOCK 539320101 9,321
LONE STAR TECH C0MMON STOCK 542312103 925
MACROVISION CORP COMMON STOCK 555904101 1,470
MAGNA INTL CL A 5% CONVERTIBLE SUBORDINATED DE 559222AE4 43,065
MAGNA INTERNATIONAL 4.875% CONVERTIBLE SUBORDINATE 559222AG9 35,589
MAIL.COM INC COMMON STOCK 560311102 74
MARRIOTT INTERNATIONAL -CL A COMMON STOCK 571903202 2,653
MATTSON TECH COMMON STOCK 577223100 747
MCLEODUSA INC 6.75% Perpetual Preferred 582266201 1,476
MEASUREMENT(EC) COMMON STOCK 583421102 729
MICROSOFT CORP COMMON STOCK 594918104 512
MILLENNIUM PHAR 144A(R) 5.50% Convertible Subordinated 599902AA1 673
MILLIPORE CORP COMMON STOCK 601073109 1,040
PHARMACIA CORP (ACES)-MONSANTO 6.5% ACES 611662305 59,948
MOTOROLA INC Liquid Yield Option Notes due 620076AJ8 10,384
MUTUAL RISK MGT COMMON STOCK 628351108 320
MUTUAL RISK MGT 0% CONVERTIBLE BONDS DUE 2015 628351AB4 1,249
NEC CORP ADR 629050204 332
NATIONAL AUSTRALIA BK 7.875% Convertible Preferred S 632525309 105,969
NATIONAL AUSTRALIA BK -SP ADR SPONSORED AMERICAN DEPOSITORY 632525408 1,009
NATIONAL CITY CORP COMMON STOCK 635405103 199
NATL DATA CORP 5% Convertible Subordinated No 635621AA3 12,941
NETWORK ASSOC 144A 0% Convertible Subordinated No 640938AA4 246
NEXTEL COMMUNICATION COMMON STOCK 65332V103 409
NVIDIA CORP COMMON STOCK 67066G104 1,906
OAK TECHNOLOGY COMMON STOCK 671802106 646
OFFICE DEPOT INC Liquid Yield Option Notes Due 676220AA4 5,052
OFFICE DEPOT INC Liquid Yield Option Notes Note 676220AB2 493
OFFSHORE LOGISTIC 6% CONVERTIBLE SUBORDINATED NO 676255AF9 276
OMNICARE INC 144A(R) 5% Convertible Subordinated De 681904AB4 203
OMNICOM GROUP INC COMMON STOCK 681919106 361
OMNICOM GROUP 4.25% Convertible Bonds due 20 681919AE6 1,221
OWENS-ILLINOIS INC 4.75% Convertible Preferred St 690768502 289
PC CONNECTION COMMON STOCK 69318J100 1,881
PF CHANGS CHINA COMMON STOCK 69333Y108 504
PARK ELECTROCHEMICAL CORP SUBNT CV 5.5%06 700416AB6 301
PATINA OIL & GAS CORP COMMON STOCK 703224105 560
PERICOM SEMICON COMMON STOCK 713831105 584
PHILIP MORRIS COMPANIES INC COMMON STOCK 718154107 706
PHILIPPINE LONG DIST Global Dep. Shares, One Share 718252703 295
PHOTON DYNAMICS COMMON STOCK 719364101 1,120
PHOTRONICS INC 6% Convertible notes due 2004 719405AA0 229
PIONEER STANDARD ELECTRONICS COMMON STOCK 723877106 630
POGO TRUST I (QUIPS) 6.50% QUIPS due 2029 73044P208 544
POLYMEDICA CORP COMMON STOCK 731738100 666
PRIMA ENERGY COMMON STOCK 741901201 762
PRIDE INTL INC Zero Coupon Subordinated deben 741932AB3 417
PROLOGIS TRUST 7% SERIES B CONVERTIBLE PREFER 743410300 4,170
PROTEIN DESIGN 144A(R) 5.50% Convertible Sub Notes du 74369LAA1 456
</TABLE>
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
--------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
LABORATORY CP (TOPR-like) 3200 SH SOLE None 3200 0
LAM RESEARCH 144A(R) 250 SH SOLE None 250 0
LAMAR ADVER CO 28425 SH SOLE None 7225 11200
LAMAR ADVER CO 1530 SH SOLE None 930 600
LATTICE SEMICONDUCTOR 51818 SH SOLE None 5275 6543
LATTICE SEMICONDUCTOR 144A(R) 450 SH SOLE None 450 0
LEARNING TREE 128575 SH SOLE None 9230 29345
LENNAR CORP OID 2870 SH SOLE None 1619 1251
LEVEL 3 COMM 4900 SH SOLE None 2950 1950
LIZ CLAIBORNE INC 264430 SH SOLE None 1920 52510
LONE STAR TECH 20000 SH SOLE None 0000 0
MACROVISION CORP 23000 SH SOLE None 3000 0
MAGNA INTL CL A 42188 SH SOLE None 3115 19073
MAGNA INTERNATIONAL 39388 SH SOLE None 4063 15325
MAIL.COM INC 13100 SH SOLE None 0 13100
MARRIOTT INTERNATIONAL -CL A 73584 SH SOLE None 3584 0
MATTSON TECH 23000 SH SOLE None 3000 0
MCLEODUSA INC 2480 SH SOLE None 1175 1305
MEASUREMENT(EC) 19000 SH SOLE None 9000 0
MICROSOFT CORP 6400 SH SOLE None 6400 0
MILLENNIUM PHAR 144A(R) 450 SH SOLE None 450 0
MILLIPORE CORP 13800 SH SOLE None 3800 0
PHARMACIA CORP (ACES)-MONSANTO 1324837 SH SOLE None 4842 479995
MOTOROLA INC 10391 SH SOLE None 3835 6556
MUTUAL RISK MGT 18500 SH SOLE None 0100 8400
MUTUAL RISK MGT 2630 SH SOLE None 1580 1050
NEC CORP 2100 SH SOLE None 2100 0
NATIONAL AUSTRALIA BK 3742774 SH SOLE None 6696 1296078
NATIONAL AUSTRALIA BK -SP ADR 12200 SH SOLE None 7425 4775
NATIONAL CITY CORP 11692 SH SOLE None 0 11692
NATL DATA CORP 15592 SH SOLE None 4444 1148
NETWORK ASSOC 144A 700 SH SOLE None 700 0
NEXTEL COMMUNICATION 6700 SH SOLE None 5150 1550
NVIDIA CORP 30000 SH SOLE None 0000 0
OAK TECHNOLOGY 30000 SH SOLE None 0000 0
OFFICE DEPOT INC 8358 SH SOLE None 7472 886
OFFICE DEPOT INC 700 SH SOLE None 700 0
OFFSHORE LOGISTIC 300 SH SOLE None 300 0
OMNICARE INC 144A(R) 300 SH SOLE None 300 0
OMNICOM GROUP INC 4055 SH SOLE None 4040 15
OMNICOM GROUP 432 SH SOLE None 425 7
OWENS-ILLINOIS INC 13000 SH SOLE None 3000 0
PC CONNECTION 33000 SH SOLE None 3000 0
PF CHANGS CHINA 15800 SH SOLE None 5800 0
PARK ELECTROCHEMICAL CORP 309 SH SOLE None 309 0
PATINA OIL & GAS CORP 27000 SH SOLE None 7000 0
PERICOM SEMICON 8600 SH SOLE None 8600 0
PHILIP MORRIS COMPANIES INC 26615 SH SOLE None 8170 18445
PHILIPPINE LONG DIST 8000 SH SOLE None 8000 0
PHOTON DYNAMICS 15000 SH SOLE None 5000 0
PHOTRONICS INC 200 SH SOLE None 200 0
PIONEER STANDARD ELECTRONICS 42750 SH SOLE None 9700 13050
POGO TRUST I (QUIPS) 10090 SH SOLE None 0090 0
POLYMEDICA CORP 15400 SH SOLE None 5400 0
PRIMA ENERGY 14250 SH SOLE None 4250 0
PRIDE INTL INC 1000 SH SOLE None 1000 0
PROLOGIS TRUST 153043 SH SOLE None 0465 62578
PROTEIN DESIGN 144A(R) 370 SH SOLE None 370 0
</TABLE>
<PAGE> 7
FORM 13F INFORMATION TABLE
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4
VALUE
NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000)
------------------------------------------------------------------------------------------
<S> <C> <C> <C>
PSINET INC COMMON STOCK 74437C101 429
RATIONAL SOFTWARE CORP COMMON STOCK 75409P202 2,532
RATIONAL SOFTWARE 144A(R) 5% Convertible Subordinated no 75409PAA1 12,020
RECKSON ASSOC SERIES A 7.625% Convertible preferred s 75621K205 332
ROBBINS & MYERS 6.5% Convertible Subordinated 770196AA1 729
ROBERT HALF INTL INC COMMON STOCK 770323103 1,026
ROUSE CO Series B (6%) 6% Convertible Preferred Stock 779273309 9,286
SBC COMM--TELEMEX--(DECS) 7.75% DEBT EXCHANGEABLE FOR CO 78387G202 5,383
SCI SYS INC 3% CONVERTIBLE SUBORDINATED NO 783890AF3 51,358
SAFEGUARD SCTFC 144A(R) 5% Convertible Subordinated No 786449AD0 538
ST PAUL COS INC (MIPS) 6% Convertible Monthly Income 792856205 1,324
SANMINA CORP COMMON STOCK 800907107 3,647
SANMINA CORP 144A(R) 4.25% Convertible Subordinated 800907AA5 1,420
SCHOLASTIC CORP SCHOLASTIC CORP COMMON STOCK 807066105 444
SCHOLASTIC CORP 5% Convertible Subordinated De 807066AA3 220
SEAGRAM CO LTD (ACES) 7.50% ACES Due 2002 811850205 73,672
SEACOR HOLDINGS 144A(R) 5.375% Convertible Subordinate 811904AC5 2,699
SEACOR HOLDINGS 5.375% CONVERTIBLE BONDS DUE 1 811904AE1 15,093
SEALED AIR CORP (W.R.GRACE) $2.00 Convertible Preferred St 81211K209 6,271
SEMTECH CORP COMMON STOCK 816850101 523
SEMTECH CORP 144A(R) 4.50% Convertible Sub Notes du 816850AB7 1,976
SENSORMATIC ELECTRONICS COMMON STOCK 817265101 532
SENSORMATIC ELE 144A(R)(PIK) 6.5% Convertible Preferred sto 817265200 584
SENSORMATIC ELE (PIK) 6.5% Convertible Preferred sto 817265804 580
SERENA SOFTWARE COMMON STOCK 817492101 1,512
SIEBEL SYSTEMS INC COMMON STOCK 826170102 2,767
SIEBEL SYSTEMS 144A(R) 5.50% Convertible Subordinated 826170AA0 2,313
SILICON STORAGE TECH COMMON STOCK 827057100 1,457
SILICON VY BCSH COMMON STOCK 827064106 912
SKECHERS USA-A COMMON STOCK 830566105 632
SPIEKER PPTYS COMMON STOCK 848497103 1,012
SPRINT (PCS GP) COMMON STOCK 852061506 905
STMICROELECTRON 0.00% LYONS DUE 09/22/09 861012AB8 28,588
SUIZA FOODS CORP COMMON STOCK 865077101 661
SUPERTEX INC COMMON STOCK 868532102 778
SWIFT ENERGY CO 6.25% Convertible Subordinated 870738AB7 1,619
SYBASE INC COMMON STOCK 871130100 1,778
SYSTEMS & COMPUTER TECH 5% Convertible Bonds due 2004 871873AB1 11,709
TALK.COM INC COMMON STOCK 874264104 84
TEKELEC INC OID 144A(R) 3.25% Subordinated notes due 2 879101AA1 553
TEKTRONIX INC COMMON STOCK 879131100 1,517
TELECOM ITALIA SPA -SP ADR ADR 87927W106 316
TELEFONOS DE MEXICO 4.25% Convertible Subordinated 879403AD5 78,409
TERAYON COMMUN COMMON STOCK 880775101 2,919
TEXAS INDUSTRIES COMMON STOCK 882491103 417
THERMO ELECTRON 144K 4.25% Convertible Subordinated 883556AF9 4,833
THERMO INSTRMNT (NOT 144A) 4% Convertible notes due 2005 883559AE6 23,449
THREE FIVE SYS INC COMMON STOCK 88554L108 1,569
TITAN CORP COMMON STOCK 888266103 1,462
TOLLGRADE COMM COMMON STOCK 889542106 1,523
TOSCO CORP COMMON STOCK 891490302 310
TOWER AUTOMOTIVE 5% Convertible Subordinated No 891707AE1 471
TRIAD HOSPITALS COMMON STOCK 89579K109 749
TRIMBLE NAVIGATION LTD COMMON STOCK 896239100 1,513
TRIQUINT SEMICON INC COMMON STOCK 89674K103 1,992
TRIQUINT SEMI 144A(R) 4% CONVERTIBLE SUBORDINATED BO 89674KAA1 2,790
TRIQUINT SEMICONDUCTOR 4% CONVERTIBLE SUBORDINATED BO 89674KAB9 2,521
USX CORPORATION 6.5% Cumulative Convertible Pr 902905819 1,215
</TABLE>
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
-----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
PSINET INC 17100 SH SOLE None 13500 3600
RATIONAL SOFTWARE CORP 27250 SH SOLE None 27170 80
RATIONAL SOFTWARE 144A(R) 8275 SH SOLE None 7975 300
RECKSON ASSOC SERIES A 15000 SH SOLE None 15000 0
ROBBINS & MYERS 775 SH SOLE None 775 0
ROBERT HALF INTL INC 36000 SH SOLE None 36000 0
ROUSE CO Series B (6%) 259750 SH SOLE None 178289 81461
SBC COMM--TELEMEX--(DECS) 55500 SH SOLE None 50295 5205
SCI SYS INC 52251 SH SOLE None 28835 23416
SAFEGUARD SCTFC 144A(R) 360 SH SOLE None 360 0
ST PAUL COS INC (MIPS) 22162 SH SOLE None 14532 7630
SANMINA CORP 42658 SH SOLE None 38675 3983
SANMINA CORP 144A(R) 700 SH SOLE None 700 0
SCHOLASTIC CORP 7275 SH SOLE None 5625 1650
SCHOLASTIC CORP 225 SH SOLE None 225 0
SEAGRAM CO LTD (ACES) 1370654 SH SOLE None 937539 433115
SEACOR HOLDINGS 144A(R) 2675 SH SOLE None 2675 0
SEACOR HOLDINGS 14956 SH SOLE None 9804 5152
SEALED AIR CORP (W.R.GRACE) 123875 SH SOLE None 92320 31555
SEMTECH CORP 6850 SH SOLE None 4700 2150
SEMTECH CORP 144A(R) 1770 SH SOLE None 1570 200
SENSORMATIC ELECTRONICS 33653 SH SOLE None 33551 102
SENSORMATIC ELE 144A(R)(PIK) 24370 SH SOLE None 24370 0
SENSORMATIC ELE (PIK) 24190 SH SOLE None 24070 120
SERENA SOFTWARE 33300 SH SOLE None 33300 0
SIEBEL SYSTEMS INC 16921 SH SOLE None 16571 350
SIEBEL SYSTEMS 144A(R) 640 SH SOLE None 580 60
SILICON STORAGE TECH 16500 SH SOLE None 16500 0
SILICON VY BCSH 21400 SH SOLE None 21400 0
SKECHERS USA-A 40000 SH SOLE None 40000 0
SPIEKER PPTYS 22000 SH SOLE None 22000 0
SPRINT (PCS GP) 15225 SH SOLE None 10000 5225
STMICROELECTRON 16555 SH SOLE None 7967 8588
SUIZA FOODS CORP 13525 SH SOLE None 8450 5075
SUPERTEX INC 15500 SH SOLE None 15500 0
SWIFT ENERGY CO 1657 SH SOLE None 1437 220
SYBASE INC 77340 SH SOLE None 77145 195
SYSTEMS & COMPUTER TECH 12939 SH SOLE None 9123 3816
TALK.COM INC 14550 SH SOLE None 4200 10350
TEKELEC INC OID 144A(R) 200 SH SOLE None 200 0
TEKTRONIX INC 20500 SH SOLE None 20500 0
TELECOM ITALIA SPA -SP ADR 2300 SH SOLE None 2300 0
TELEFONOS DE MEXICO 58908 SH SOLE None 38657 20251
TERAYON COMMUN 45450 SH SOLE None 27410 18040
TEXAS INDUSTRIES 14450 SH SOLE None 9100 5350
THERMO ELECTRON 144K 5241 SH SOLE None 736 4505
THERMO INSTRMNT (NOT 144A) 27257 SH SOLE None 16758 10499
THREE FIVE SYS INC 26599 SH SOLE None 26599 0
TITAN CORP 32675 SH SOLE None 30250 2425
TOLLGRADE COMM 11500 SH SOLE None 11500 0
TOSCO CORP 10975 SH SOLE None 6250 4725
TOWER AUTOMOTIVE 600 SH SOLE None 600 0
TRIAD HOSPITALS 31000 SH SOLE None 31000 0
TRIMBLE NAVIGATION LTD 31000 SH SOLE None 31000 0
TRIQUINT SEMICON INC 20825 SH SOLE None 20075 750
TRIQUINT SEMI 144A(R) 2990 SH SOLE None 2790 200
TRIQUINT SEMICONDUCTOR 2702 SH SOLE None 2697 5
USX CORPORATION 31470 SH SOLE None 13370 18100
</TABLE>
<PAGE> 8
FORM 13F INFORMATION TABLE
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4
VALUE
NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000)
------------------------------------------------------------------------------------------
<S> <C> <C> <C>
UNION PAC CORP COMMON STOCK 907818108 226
US CELLULAR Liquid Yield Option Notes 911684AA6 1,893
UNITEDGLOBALCOM CV PFD 1/20 913247102 493
UNITEDGLOBALCOM CV PFD 1/20DSR 913247201 493
UNITEDGLOBALCOM INC 7% D 7% Convertible Preferred Stock 913247805 1,171
UNOCAL CORP COMMON STOCK 915289102 253
VERITAS SOFTWRE 5.25% CONVERTIBLE SUBORDINATED 923436AB5 1,299
VINTAGE PETROL COMMON STOCK 927460105 1,376
VISHAY INTERTEC COMMON STOCK 928298108 1,138
VITESSE SEMICON COMMON STOCK 928497106 257
VITESSE SEMICON 144A(R) 4% CONVERTIBLE SUBORDINATED BO 928497AA4 10,125
VORNADO RLTY TST -SERIES A 6.5% CONVERTIBLE PREFERRED STO 929042208 60,911
WADDELL & REED-A COMMON STOCK 930059100 1,230
WASTE MGT INC 4% Convertible Subordinated No 94106LAA7 908
WELLPOINT HEALTH OID Zero Coupon Convertible Subord 94973HAA6 14,631
WENDYS INTL (TECONs) Series A 950588202 29,072
WESTERN GAS RESOURCES COMMON STOCK 958259103 696
WESTERN GAS RESOURCES $2.625 CUMULATIVE CONVERTIBLE 958259301 3,180
WHOLE FOODS MKT Zero Coupon Convertible Subord 966837AC0 2,183
CLAYTON WILLIAMS ENERGY INC COMMON STOCK 969490101 1,437
WIND RIVER SYS 144A(R) 5% Convertible subordinated no 973149AA5 252
YOUNG & RUBICAM COMMON STOCK 987425105 3,844
YOUNG & RUBICAM 144A(R) 3% Convertible subordinated no 987425AA3 23,045
AMDOCS LTD COMMON STOCK G02602103 905
LORAL SPACE & COM 6% CONVERTIBLE PREFERRED STOCK G56462149 4,186
ROYAL CARIBBEAN CRUISES, LTD COMMON STOCK V7780T103 1,048
FLEXTRONIC INTL COMMON STOCK Y2573F102 659
TEEKAY SHIPPING COMMON STOCK Y8564W103 483
</TABLE>
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
UNION PAC CORP 6100 SH SOLE None 3825 2275
US CELLULAR 3144 SH SOLE None 3008 136
UNITEDGLOBALCOM 8000 SH SOLE None 8000 0
UNITEDGLOBALCOM 8000 SH SOLE None 8000 0
UNITEDGLOBALCOM INC 7% D 25600 SH SOLE None 11130 14470
UNOCAL CORP 7650 SH SOLE None 5075 2575
VERITAS SOFTWRE 110 SH SOLE None 110 0
VINTAGE PETROL 61000 SH SOLE None 60865 135
VISHAY INTERTEC 30000 SH SOLE None 30000 0
VITESSE SEMICON 3500 SH SOLE None 2700 800
VITESSE SEMICON 144A(R) 11075 SH SOLE None 10315 760
VORNADO RLTY TST -SERIES A 1175595 SH SOLE None 702006 473589
WADDELL & REED-A 37500 SH SOLE None 37500 0
WASTE MGT INC 970 SH SOLE None 900 70
WELLPOINT HEALTH OID 21245 SH SOLE None 12436 8809
WENDYS INTL (TECONs) 646047 SH SOLE None 503531 142516
WESTERN GAS RESOURCES 33150 SH SOLE None 21300 11850
WESTERN GAS RESOURCES 93385 SH SOLE None 55630 37755
WHOLE FOODS MKT 6203 SH SOLE None 2880 3323
CLAYTON WILLIAMS ENERGY INC 45000 SH SOLE None 45000 0
WIND RIVER SYS 144A(R) 200 SH SOLE None 200 0
YOUNG & RUBICAM 67220 SH SOLE None 58455 8765
YOUNG & RUBICAM 144A(R) 22517 SH SOLE None 21162 1355
AMDOCS LTD 11800 SH SOLE None 11800 0
LORAL SPACE & COM 183499 SH SOLE None 95815 87684
ROYAL CARIBBEAN CRUISES, LTD 56670 SH SOLE None 56670 0
FLEXTRONIC INTL 9600 SH SOLE None 9600 0
TEEKAY SHIPPING 14700 SH SOLE None 14700 0
</TABLE>
