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: Paloma Securities LLC
Address: Two American Lane
Greenwich, CT 06836-2571
13F File Number: 28-3106
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: Randall U. Tam
Title: General Securities Principal
Phone: 203-861-3288
Signature, Place and Date of Signing:
Randall U. Tam Greenwich, Connecticut AUGUST 14,2000
Report Type (Check only one.):
[ X ] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
List of Other Managers Reporting for this Manager:
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE
ACT OF 1934.
<PAGE>
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 373
Form 13F Information Table Value Total: $1,070,497
List of Other Included Managers:
<PAGE>
<TABLE> <C> <C>
FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
ALCOA INC COM 013817101 1088 37500 SH SOLE 37500
ALBERTSON'S INC COM 013104104 200 6000 SH SOLE 6000
ADAPTEC CV 4.75% 02/01/04 SDBCV 00651FAC2 2507 2967000 PRN SOLE 2967000
AMERICAN ELECTRIC POWER COM 025537101 741 25020 SH SOLE 25020
AETNA INC COM 008117103 1605 25000 SH CALL SOLE 0
AETNA INC COM 008117103 1605 25000 SH PUT SOLE 0
AFFYMETRIX INC COM 00826T108 826 5000 SH PUT SOLE 0
AFLAC INC COM 001055102 620 13500 SH SOLE 13500
AFLAC INC COM 001055102 459 10000 SH CALL SOLE 0
AFLAC INC COM 001055102 459 10000 SH PUT SOLE 0
ASSOCIATES FIRST CAPITAL - A COM 046008108 1473 66000 SH SOLE 66000
ALKERMES CV 3.75% 2/15/07 144A SDBCV 01642TAA6 4097 4800000 PRN SOLE 4800000
ALKERMES CV PFD 6.50% CVPFD 01642T405 22595 140550 SH SOLE 140550
ALLSTATE CORP USD COM 020002101 1135 51000 SH SOLE 51000
APPLIED MATERIALS INC COM 038222105 2265 25000 SH CALL SOLE 0
AMAZON.COM INC COM 023135106 759 20900 SH SOLE 20900
AMAZON.COM INC COM 023135106 1089 30000 SH PUT SOLE 0
ACT NETWORKS INC COM 000975102 613 40000 SH SOLE 40000
AMERICA ONLINE INC COM 02364J104 582 11050 SH SOLE 11050
AMERICA ONLINE INC COM 02364J104 1581 30000 SH CALL SOLE 0
AMERICA ONLINE INC COM 02364J104 1054 20000 SH PUT SOLE 0
AMERICAN POWER CONVERSION COM 029066107 2449 60000 SH CALL SOLE 0
<ACQ>APEX INC COM 037548104 4496 97300 SH SOLE 97300
ARTESIAN RESOURCES CORP - CL A COM 043113208 775 33700 SH SOLE 33700
AVIRON CV 5.75% 4/01/05 144A SDBCV 053762AA8 2755 2500000 PRN SOLE 2500000
ALLEGHENY ENERGY INC COM 017361106 4342 158600 SH SOLE 158600
ALZA CORP CV 0% 7/14/14 SDBCV 022615AC2 9770 12500000 PRN SOLE 12500000
BOEING CO COM 097023105 4491 107400 SH CALL SOLE 0
BANK OF AMERICA CORP COM 060505104 2606 60600 SH SOLE 60600
BAXTER INTERNATIONAL COM 071813109 703 10000 SH SOLE 10000
BURR-BROWN CORP COM 122574106 15534 179200 SH SOLE 179200
BURR-BROWN 4.25% 2/15/07 144A SDBCV 122574AD8 12708 7500000 PRN SOLE 7500000
BB&T CORP COM 054937107 640 26800 SH SOLE 26800
BEA SYSTEMS INC COM 073325102 742 15000 SH CALL SOLE 0
BEA SYSTEMS INC COM 073325102 742 15000 SH PUT SOLE 0
BELL ATLANTIC CORP COM 077853109 807 15888 SH SOLE 15888
FRANKLIN RESOURCES INC COM 354613101 456 15000 SH CALL SOLE 0
FRANKLIN RESOURCES INC COM 354613101 456 15000 SH PUT SOLE 0
BESTFOODS COM 08658U101 37457 540900 SH SOLE 540900
BIOGEN INC COM 090597105 2903 45000 SH CALL SOLE 0
BANK OF NEW YORK CO INC COM 064057102 2488 53500 SH CALL SOLE 0
BANK OF NEW YORK CO INC COM 064057102 2488 53500 SH PUT SOLE 0
BALLARD POWER SYSTEMS INC COM 05858H104 1347 15000 SH CALL SOLE 0
BALLARD POWER SYSTEMS INC COM 05858H104 1347 15000 SH PUT SOLE 0
BMC SOFTWARE INC COM 055921100 288 7900 SH SOLE 7900
BMC SOFTWARE INC COM 055921100 912 25000 SH CALL SOLE 0
BMC SOFTWARE INC COM 055921100 912 25000 SH PUT SOLE 0
BRISTOL MYERS SQUIBB COM 110122108 3623 62200 SH SOLE 62200
BRISTOL MYERS SQUIBB COM 110122108 4078 70000 SH CALL SOLE 0
BAUSCH & LOMB INC COM 071707103 464 6000 SH SOLE 6000
BEAR STEARNS COMPANIES COM 073902108 2463 59150 SH SOLE 59150
BEAR STEARNS COMPANIES COM 073902108 416 10000 SH CALL SOLE 0
BEAR STEARNS COMPANIES COM 073902108 416 10000 SH PUT SOLE 0
BOSTON SCIENTIFIC CORP COM 101137107 483 22000 SH PUT SOLE 0
BIOVAIL CORP COM 09067J109 277 5000 SH CALL SOLE 0
BIOVAIL CORP COM 09067J109 277 5000 SH PUT SOLE 0
BROADVISION INC COM 111412102 762 15000 SH CALL SOLE 0
CATERPILLAR INC COM 149123101 2534 74800 SH SOLE 74800
CHUBB CORP USD COM 171232101 243 3950 SH SOLE 3950
CHUBB CORP USD COM 171232101 1230 20000 SH CALL SOLE 0
CHUBB CORP USD COM 171232101 1230 20000 SH PUT SOLE 0
CIRCUIT CITY STORES INC-GROUP COM 172737108 933 28100 SH SOLE 28100
CENDANT CORP COM 151313103 5838 417000 SH SOLE 417000
CENDANT CORP - RTS 2/14/01 WT 151313111 1969 225000 SH SOLE 225000
CEPHALON CV 7.25%2049 144A CVPFD 156708307 6779 40000 SH SOLE 40000
CEPHALON CV 7.25%2049 REGD SEC CVPFD 156708406 18150 107100 SH SOLE 107100
CHIRON 1.90% 11/17/00 144A SDBCV 170040AB5 5791 3500000 PRN SOLE 3500000
CHEVRON CORP COM 166751107 2154 25400 SH SOLE 25400
CHIEFTAIN INTL CV PFD $1.8125 CVPFD 168672202 984 37500 SH SOLE 37500
COLGATE PALMOLIVE COM 194162103 257 4300 SH SOLE 4300
COLGATE PALMOLIVE COM 194162103 1198 20000 SH CALL SOLE 0
COLGATE PALMOLIVE COM 194162103 1198 20000 SH PUT SOLE 0
COMERICA INC COM 200340107 2369 52800 SH SOLE 52800
COMERICA INC COM 200340107 898 20000 SH CALL SOLE 0
COMERICA INC COM 200340107 898 20000 SH PUT SOLE 0
CMG INFO SVCS INC COM 125750109 1374 30000 SH CALL SOLE 0
COMMERCE ONE INC COM 200693109 908 20000 SH CALL SOLE 0
CMS ENERGY CORP COM 125896100 781 35300 SH SOLE 35300
CNA FINANCIAL CORP COM 126117100 340 10000 SH SOLE 10000
CNET NETWORKS INC COM 12613R104 443 18050 SH SOLE 18050
CNET NETWORKS INC COM 12613R104 491 20000 SH CALL SOLE 0
CNET NETWORKS INC COM 12613R104 491 20000 SH PUT SOLE 0
3COM CORP COM 885535104 21609 375000 SH SOLE 375000
3COM CORP COM 885535104 2305 40000 SH CALL SOLE 0
CALPINE CORPORATION COM 131347106 2433 37000 SH CALL SOLE 0
CALPINE CORPORATION COM 131347106 2433 37000 SH PUT SOLE 0
COMPAQ COMPUTER CORP COM 204493100 399 15600 SH SOLE 15600
COMPUWARE CORP COM 205638109 753 72600 SH SOLE 72600
COMPUWARE CORP COM 205638109 2075 200000 SH PUT SOLE 0
PE CORP-CELERA GENOMICS GRP COM 69332S201 920 10000 SH CALL SOLE 0
CURAGEN CV 6% 02/02/07 144A SDBCV 23126RAA9 784 1000000 PRN SOLE 1000000
CIRRUS LOGIC CV 6% 12/15/03 SDBCV 172755AC4 4441 5000000 PRN SOLE 5000000
CABLETRON SYSTEMS COM 126920107 505 20000 SH CALL SOLE 0
CABLETRON SYSTEMS COM 126920107 505 20000 SH PUT SOLE 0
CISCO SYSTEMS INC COM 17275R102 3178 50000 SH CALL SOLE 0
CSX CORP COM 126408103 795 37500 SH SOLE 37500
CTG RESOURCES INC COM 125957100 253 6900 SH SOLE 6900
<SYM>C-CUBE MICROSYSTEMS INC COM 12501N108 805 41000 SH SOLE 41000
CONVERGYS CORP COM 212485106 363 7000 SH PUT SOLE 0
CVS CORP COM 126650100 224 5600 SH SOLE 5600
DOUBLECLICK 4.75% 3/15/06 SDBCV 258609AC0 2697 2500000 PRN SOLE 2500000
DOUBLECLICK INC COM 258609304 381 10000 SH CALL SOLE 0
DUPONT EI DE NEMOURS & CO COM 263534109 4034 92200 SH SOLE 92200
DEERE & CO COM 244199105 1295 35000 SH CALL SOLE 0
DELL COMPUTER CORP COM 247025109 4439 90000 SH CALL SOLE 0
DELL COMPUTER CORP COM 247025109 4439 90000 SH PUT SOLE 0
VALHI INC CV 0.0% 10/20/7 SDBCV 918905AC4 17388 23998000 PRN SOLE 23998000
DIGITAL LIGHTWAVE INC COM 253855100 503 5000 SH CALL SOLE 0
THE WALT DISNEY CO COM 254687106 4269 110000 SH CALL SOLE 0
THE WALT DISNEY CO COM 254687106 3105 80000 SH PUT SOLE 0
DIAL CORP COM 25247D101 641 61800 SH SOLE 61800
DOW CHEMICAL CO COM 260543103 3121 103400 SH SOLE 103400
DELPHI AUTOMOTIVE SYSTEMS COM 247126105 307 21100 SH SOLE 21100
DELPHI AUTOMOTIVE SYSTEMS COM 247126105 364 25000 SH CALL SOLE 0
DELPHI AUTOMOTIVE SYSTEMS COM 247126105 364 25000 SH PUT SOLE 0
DQE INC COM 23329J104 407 10300 SH SOLE 10300
DETROIT EDISON CO (DTE) COM 233331107 2164 70800 SH SOLE 70800
DYNEGY INC COM 26816Q101 5431 79500 SH SOLE 79500
EBAY INC COM 278642103 445 8200 SH SOLE 8200
EBAY INC COM 278642103 652 12000 SH CALL SOLE 0
EBAY INC COM 278642103 652 12000 SH PUT SOLE 0
<ACQ>CENTRAL NEWSPAPERS CL A COM 154647101 1183 18700 SH SOLE 18700
EMPIRE DISTRICT ELECTRIC CO COM 291641108 1099 49800 SH SOLE 49800
EL PASO ELECTRIC CO COM 283677854 5913 528550 SH SOLE 528550
ELAN CORP PLC - ADR ADR 284131208 969 20000 SH CALL SOLE 0
ELAN CORP PLC - ADR ADR 284131208 969 20000 SH PUT SOLE 0
EMC CORP-MASS COM 268648102 5386 70000 SH CALL SOLE 0
EMCOR GROUP CV 5.75% 04/01/05 SDBCV 29084QAC4 3208 3250000 PRN SOLE 3250000
ENRON CORP COM 293561106 658 10200 SH SOLE 10200
ENRON CORP COM 293561106 1935 30000 SH CALL SOLE 0
ENRON CORP COM 293561106 1935 30000 SH PUT SOLE 0
ENTREMED INC COM 29382F103 299 10000 SH CALL SOLE 0
EL PASO ENERGY CORP COM 283905107 1329 26100 SH SOLE 26100
EQUITABLE RESOURCES INC COM 294549100 676 14000 SH SOLE 14000
<ACQ>E-TEK DYNAMICS INC COM 269240107 1055 4000 SH CALL SOLE 0
<ACQ>E-TEK DYNAMICS INC COM 269240107 1055 4000 SH PUT SOLE 0
EDUCATIONAL VIDEO CONF COM 281505107 466 29600 SH SOLE 29600
EARTHWEB CV 7% 1/25/05 144A SDBCV 27032CAA6 490 1000000 PRN SOLE 1000000
FIRSTENERGY CORP COM 337932107 6924 296200 SH SOLE 296200
FINANCIAL CV 4.5% 5/01/05 SDBCV 317492AC0 4782 6158000 PRN SOLE 6158000
FLEXTRONICS INTL CO COM Y2573F102 343 5000 SH PUT SOLE 0
SPRINT CORP<FON GROUP> COM 852061100 388 7600 SH SOLE 7600
FPL GROUP INC COM 302571104 6381 128900 SH SOLE 128900
FEDERAL HOME LN MTG CORP COM 313400301 595 14700 SH SOLE 14700
FSI INTL INC COM 302633102 1183 54550 SH SOLE 54550
FIRST UNION CORP (N.C) COM 337358105 2970 119700 SH SOLE 119700
GILLETTE COMPANY COM 375766102 468 13400 SH SOLE 13400
NICOR INC COM 654086107 1132 34700 SH SOLE 34700
GLOBAL 6.75% 4/15/12 TO-MW CVPFD G3921A134 8514 38700 SH SOLE 38700
GENESCO CV 5.50% 04/15/05 SDBCV 371532AL6 8994 9600000 PRN SOLE 9600000
GENESCO CV 5.50% 04/15/05 144A SDBCV 371532AK8 1874 2000000 PRN SOLE 2000000
GUIDANT CORP COM 401698105 594 12000 SH SOLE 12000
GENZYME CORP - GENL DIVISION COM 372917104 1783 30000 SH CALL SOLE 0
GENZYME CORP - GENL DIVISION COM 372917104 1783 30000 SH PUT SOLE 0
GLOBAL MARINE INC COM 379352404 1691 60000 SH CALL SOLE 0
GLOBAL MARINE INC COM 379352404 1973 70000 SH PUT SOLE 0
GEORGIA PAC<GEORGIA-PAC GRP> COM 373298108 1491 56800 SH SOLE 56800
GAP INC COM 364760108 753 24100 SH SOLE 24100
GREENPOINT FINANCIAL CORP COM 395384100 1380 73600 SH SOLE 73600
GPU INC COM 36225X100 1383 51100 SH SOLE 51100
HOME DEPOT INC COM 437076102 939 18800 SH SOLE 18800
HELIX TECHNOLOGY CORP COM 423319102 328 8400 SH SOLE 8400
HUMAN GENOME SCIENCES INC COM 444903108 934 7000 SH CALL SOLE 0
H J HEINZ CO COM 423074103 1194 27300 SH SOLE 27300
HONEYWELL INTL INC COM 438516106 1263 37500 SH SOLE 37500
HERCULES INC COM 427056106 527 37500 SH SOLE 37500
HERSHEY FOODS COM 427866108 388 8000 SH SOLE 8000
HEWLETT CV ZCPN 10/14/17 144A SDBCV 428236AA1 1418 1500000 PRN SOLE 1500000
IBIS TECHNOLOGY CORP COM 450909106 906 15000 SH CALL SOLE 0
ICOS CORPORATION COM 449295104 1540 35000 SH CALL SOLE 0
ICOS CORPORATION COM 449295104 1540 35000 SH PUT SOLE 0
IDACORP INC COM 451107106 1097 34000 SH SOLE 34000
INCYTE CV 5.50% 02/01/07 144A SDBCV 45337CAA0 9564 11500000 PRN SOLE 11500000
INKTOMI CORP COM 457277101 1183 10000 SH CALL SOLE 0
INKTOMI CORP COM 457277101 2661 22500 SH PUT SOLE 0
INTRANET SOLUTIONS INC COM 460939309 768 20000 SH CALL SOLE 0
INTEL CORP COM 458140100 4011 30000 SH CALL SOLE 0
INTEL CORP COM 458140100 1337 10000 SH PUT SOLE 0
INTERNATIONAL PAPER CO COM 460146103 1446 48500 SH SOLE 48500
IPALCO ENTERPRISES INC COM 462613100 5212 259000 SH SOLE 259000
INGERSOLL-RAND CO COM 456866102 1630 40500 SH SOLE 40500
I2 TECH CV 5.25% 12/15/06 144A SDBCV 465754AD1 1545 1000000 PRN SOLE 1000000
I2 TECHNOLOGIES INC COM 465754109 1564 15000 SH CALL SOLE 0
JOHNSON & JOHNSON COM 478160104 2455 24100 SH SOLE 24100
J P MORGAN & CO COM 616880100 2048 18600 SH SOLE 18600
KEYCORP COM 493267108 1551 88000 SH SOLE 88000
KROGER CO. COM 501044101 993 45000 SH SOLE 45000
LYCOS INC COM 550818108 2713 50000 SH CALL SOLE 0
LITTLEFUSE INC WTS 12/27/01 RT 537008120 1344 30000 SH SOLE 30000
LABORATORY CRP OF AMER HLDGS COM 50540R409 2804 36361 SH SOLE 36361
LILLY INDUSTRIES INC - CL A COM 532491107 4494 149500 SH SOLE 149500
LINEAR TECHNOLOGY CORP COM 535678106 390 6100 SH SOLE 6100
LINCOLN NATIONAL CORP COM 534187109 759 21000 SH SOLE 21000
ALLIANT ENERGY CORP COM 018802108 2064 79400 SH SOLE 79400
LUCENT TECH INC COM 549463107 5926 100000 SH CALL SOLE 0
MCDONALDS CORP COM 580135101 1235 37500 SH SOLE 37500
MACROCHEM CORP/DELAWARE COM 555903103 362 74700 SH SOLE 74700
MCLEODUSA INC CV 6.75% (CMW) CVPFD 582266201 16781 30250 SH SOLE 30250
MEDIMMUNE INC COM 584699102 740 10000 SH CALL SOLE 0
MEDIMMUNE INC COM 584699102 740 10000 SH PUT SOLE 0
MALLINCKRODT INC COM 561232109 19590 451000 SH SOLE 451000
MMC NETWORKS INC COM 55308N102 1069 20000 SH CALL SOLE 0
MMC NETWORKS INC COM 55308N102 2138 40000 SH PUT SOLE 0
MINNESOTA MINING & MFG CO COM 604059105 3094 37500 SH SOLE 37500
MSC SOFTWARE CV 7.875% 8/18/4 SDBCV 553531AA2 369 432000 PRN SOLE 432000
MOTOROLA INC COM 620076109 1314 45200 SH SOLE 45200
MOTOROLA INC COM 620076109 1308 45000 SH CALL SOLE 0
MOTOROLA INC COM 620076109 1744 60000 SH PUT SOLE 0
MERCK & CO COM 589331107 3930 51300 SH SOLE 51300
MERCK & CO COM 589331107 2299 30000 SH CALL SOLE 0
MICROSOFT CORP COM 594918104 11200 140000 SH CALL SOLE 0
MICROSOFT CORP COM 594918104 10400 130000 SH PUT SOLE 0
MICROSTRATEGY INC COM 594972101 302 10050 SH SOLE 10050
MICROSTRATEGY INC COM 594972101 300 10000 SH PUT SOLE 0
MONTANA POWER CO COM 612085100 1730 49000 SH PUT SOLE 0
MAXIM INTERGRATED PRODUCTS COM 57772K101 448 6600 SH SOLE 6600
MYRIAD GENETICS INC COM 62855J104 1111 7500 SH CALL SOLE 0
MYLAN LABORATORIES COM 628530107 544 29800 SH SOLE 29800
MYLAN LABORATORIES COM 628530107 548 30000 SH CALL SOLE 0
MYLAN LABORATORIES COM 628530107 548 30000 SH PUT SOLE 0
NAB CV PF 7.875% UNIT CVPFD 632525309 21167 750000 SH SOLE 750000
NATIONAL CITY CORP COM 635405103 1083 63500 SH SOLE 63500
ENERGY EAST CORPORATION COM 29266M109 3846 201768 SH SOLE 201768
NEW ERA OF NETWORKS INC COM 644312100 425 10000 SH PUT SOLE 0
NABISCO GROUP HOLDINGS COM 62952P102 16989 655000 SH SOLE 655000
NABISCO GROUP HOLDINGS COM 62952P102 12800 493500 SH CALL SOLE 0
NOKIA CORP - ADR ADR 654902204 3121 62500 SH CALL SOLE 0
NOKIA CORP - ADR ADR 654902204 1623 32500 SH PUT SOLE 0
NORFOLK SOUTHERN CORP COM 655844108 558 37500 SH SOLE 37500
NORTHERN STATES POWER CO COM 665772109 4500 222900 SH SOLE 222900
NUI CORP COM 629430109 2581 95600 SH SOLE 95600
QUANEX CORP CV 6.88% 06/30/07 SDBCV 747620AC6 3807 4505000 PRN SOLE 4505000
NEXTEL COMMUNICATIONS INC CL A COM 65332V103 502 8200 SH SOLE 8200
OLD KENT FINANCIAL CORP COM 679833103 1402 52420 SH SOLE 52420
BANK ONE CORP COM 06423A103 1992 75000 SH SOLE 75000
OPENTV CORPORATION COM G67543101 4936 110000 SH PUT SOLE 0
ORACLE CORP COM 68389X105 3783 45000 SH CALL SOLE 0
OXIGENE INC COM 691828107 200 20000 SH PUT SOLE 0
OXFORD HEALTH PLANS COM 691471106 714 30000 SH CALL SOLE 0
OXFORD HEALTH PLANS COM 691471106 714 30000 SH PUT SOLE 0
PALM INC COM 696642107 18777 562600 SH PUT SOLE 0
P G & E CORP COM 69331C108 2876 116800 SH SOLE 116800
PRICELINE.COM INC COM 741503106 699 18400 SH SOLE 18400
PRICELINE.COM INC COM 741503106 893 23500 SH CALL SOLE 0
PRICELINE.COM INC COM 741503106 893 23500 SH PUT SOLE 0
PECO ENERGY GROUP COM 693304107 5180 128500 SH SOLE 128500
PUBLIC SERVICE ENTERPRISE GP COM 744573106 8822 254800 SH SOLE 254800
PETSMART CV 6.75% 11/1/04 SDBCV 716768AB2 2226 3500000 PRN SOLE 3500000
PROCTER & GAMBLE COM 742718109 5124 89500 SH SOLE 89500
PEOPLES ENERGY CORP COM 711030106 544 16800 SH SOLE 16800
PARKER-HANNIFIN CORP COM 701094104 377 11000 SH SOLE 11000
PHARMACIA CORPORATION COM 71713U102 456 8835 SH SOLE 8835
PHONE.COM INC COM 71920Q100 488 7500 SH CALL SOLE 0
PHONE.COM INC COM 71920Q100 488 7500 SH PUT SOLE 0
PHILIPPINE CV PFD $3.50 SR III CVPFD 718252703 1000 27200 SH SOLE 27200
PHOTRONICS CV 6.00% 06/01/04 SDBCV 719405AA0 6882 6050000 PRN SOLE 6050000
PMC SIERRA INC COM 69344F106 1777 10000 SH CALL SOLE 0
PENNICHUCK CORP COM 708254206 285 10900 SH SOLE 10900
PROTECTION ONE INC COM 743663304 334 152700 SH SOLE 152700
POTOMAC ELECTRIC POWER COM 737679100 2260 90400 SH SOLE 90400
PPG INDUSTRIES INC COM 693506107 1662 37500 SH SOLE 37500
PPL CORP COM 69351T106 9234 420900 SH SOLE 420900
PENN TREATY CV 6.25% 12/01/03 SDBCV 707874AC7 1352 1700000 PRN SOLE 1700000
QWEST COMMUNICATIONS INTL COM 749121109 4306 86661 SH SOLE 86661
QWEST COMMUNICATIONS INTL COM 749121109 4968 100000 SH CALL SOLE 0
QUALCOMM INC. COM 747525103 1674 27900 SH SOLE 27900
QUALCOMM INC. COM 747525103 4200 70000 SH CALL SOLE 0
QUALCOMM INC. COM 747525103 1740 29000 SH PUT SOLE 0
NASDAQ 100 SHARES COM 631100104 1256 13400 SH SOLE 13400
REEBOK INTERNATIONAL LTD COM 758110100 1594 100000 SH CALL SOLE 0
ROBBINS & MYERS CV 6.5% 9/1/03 SDBCV 770196AA1 556 578000 PRN SOLE 578000
RELIANT ENERGY INC COM 75952J108 1395 47200 SH SOLE 47200
RELIASTAR FINANCIAL CORP COM 75952U103 11788 224800 SH SOLE 224800
RELIASTAR FINANCIAL CORP COM 75952U103 3356 64000 SH CALL SOLE 0
RSA SECURITY INC COM 749719100 346 5000 SH PUT SOLE 0
ROUSE CV PFD $3.00 SER B CVPFD 779273309 352 10000 SH SOLE 10000
SAPIENT CORPORATION COM 803062108 1069 10000 SH CALL SOLE 0
SAPIENT CORPORATION COM 803062108 1069 10000 SH PUT SOLE 0
SBC COMMUNICATIONS COM 78387G103 1099 25400 SH SOLE 25400
SMITHKLINE BEECHAM PLC - ADR ADR 832378301 1949 29900 SH SOLE 29900
SMITHKLINE BEECHAM PLC - ADR ADR 832378301 978 15000 SH CALL SOLE 0
SMITHKLINE BEECHAM PLC - ADR ADR 832378301 978 15000 SH PUT SOLE 0
STARBUCKS CORP COM 855244109 1718 45000 SH CALL SOLE 0
STARBUCKS CORP COM 855244109 1012 26500 SH PUT SOLE 0
SYSTEMS & COMP CV 5% 10/15/04 SDBCV 871873AB1 2969 3176100 PRN SOLE 3176100
SIEBEL SYSTEMS INC COM 826170102 3271 20000 SH CALL SOLE 0
GENERAL SEMI CV 5.75% 12/15/06 SDBCV 370787AB9 2234 2000000 PRN SOLE 2000000
GENERAL SEMI CV 5.75%2006 144A SDBCV 370787AA1 2234 2000000 PRN SOLE 2000000
SCHERING PLOUGH COM 806605101 2111 41800 SH SOLE 41800
SIGMA-ALDRICH COM 826552101 4388 150000 SH CALL SOLE 0
SOUTH JERSEY IND COM 838518108 616 23700 SH SOLE 23700
SARA LEE CORP COM 803111103 1429 74000 SH SOLE 74000
SYLVAN LEARNING SYSTEMS INC COM 871399101 1375 100000 SH SOLE 100000
SYNOPSYS INC COM 871607107 359 10400 SH SOLE 10400
SOUTHERN CO COM 842587107 291 12500 SH SOLE 12500
SAPIENS INTL CORP COM N7716A102 1537 304332 SH SOLE 304332
SUNTRUST BANKS INC COM 867914103 1713 37500 SH SOLE 37500
SUMMIT BANCORP COM 866005101 246 10000 SH SOLE 10000
SUN MICROSYSTEMS INC COM 866810104 611 6711 SH SOLE 6711
SUN MICROSYSTEMS INC COM 866810104 909 10000 SH CALL SOLE 0
SUN MICROSYSTEMS INC COM 866810104 909 10000 SH PUT SOLE 0
SAVOIR TECHNOLOGY GROUP INC COM 80533W107 1187 168000 SH SOLE 168000
SOUTHWEST GAS CORP COM 844895102 373 21300 SH SOLE 21300
AT&T CORP COM 001957109 2606 82400 SH SOLE 82400
AT&T CORP COM 001957109 6325 200000 SH CALL SOLE 0
AT&T CORP COM 001957109 2214 70000 SH PUT SOLE 0
TELEFONICA DE ARGENTINA - ADR ADR 879378206 711 20000 SH CALL SOLE 0
TELEFONICA DE ARGENTINA - ADR ADR 879378206 640 18000 SH PUT SOLE 0
TJX COMPANIES INC COM 872540109 1194 63700 SH SOLE 63700
TEKELEC COM 879101103 1928 40000 SH CALL SOLE 0
TELLABS INC COM 879664100 1369 20000 SH CALL SOLE 0
TELLABS INC COM 879664100 1369 20000 SH PUT SOLE 0
TELEFONOS MEX 4.25% 06/15/04 SDBCV 879403AD5 31733 23550000 PRN SOLE 23550000
SPEEDWAY MTR CV 5.75% 09/30/03 SDBCV 847788AC0 1888 2000000 PRN SOLE 2000000
TECH-SYM CORP COM 878308105 5906 210000 SH SOLE 210000
TD WATERHOUSE GROUP COM 872362108 433 25000 SH CALL SOLE 0
TOWER AUTO CV 5.00% 8/01/04 SDBCV 891707AE1 7532 9610000 PRN SOLE 9610000
CROWN CASTLE INTL CORP COM 228227104 913 25000 SH CALL SOLE 0
CROWN CASTLE INTL CORP COM 228227104 913 25000 SH PUT SOLE 0
TIME WARNER INC COM 887315109 312 4100 SH SOLE 4100
TIME WARNER INC COM 887315109 1900 25000 SH CALL SOLE 0
TIME WARNER INC COM 887315109 1900 25000 SH PUT SOLE 0
TEXACO INC COM 881694103 2545 47800 SH SOLE 47800
TEXAS INSTRUMENTS INC COM 882508104 371 5400 SH SOLE 5400
TEXTRON INC COM 883203101 1331 24500 SH SOLE 24500
TXU CORPORATION COM 873168108 310 10500 SH SOLE 10500
TYCO INTERNATIONAL LTD COM 902124106 3316 70000 SH CALL SOLE 0
TYCO INTERNATIONAL LTD COM 902124106 6396 135000 SH PUT SOLE 0
US AIRWAYS GROUP INC COM 911905107 1755 45000 SH CALL SOLE 0
UAL CORP COM 902549500 2182 37500 SH SOLE 37500
UNOCAL CORP COM 915289102 298 9000 SH SOLE 9000
UNICOM CORP COM 904911104 36068 932300 SH SOLE 932300
UNITEDGLOBALCOM CV 7% CMW/S CVPFD 913247201 1670 26910 SH SOLE 26910
UNITEDGLOBAL CV PFD 7.00% 144A CVPFD 913247102 2731 44000 SH SOLE 44000
UNITEDGLOBALCOM CV 7% D CMW/S CVPFD 913247805 2064 45861 SH SOLE 45861
UTILICORP UNITED INC COM 918005109 5273 265300 SH SOLE 265300
UGI CORP COM 902681105 2755 134400 SH SOLE 134400
UNION CARBIDE CORP COM 905581104 827 16700 SH SOLE 16700
UNION CARBIDE CORP COM 905581104 990 20000 SH CALL SOLE 0
UNION CARBIDE CORP COM 905581104 990 20000 SH PUT SOLE 0
MEDIAONE GROUP INC COM 58440J104 31442 475500 SH SOLE 475500
UNILEVER NV <NY SHRS> ADR 904784709 1024 23821 SH SOLE 23821
UNION PACIFIC CORP COM 907818108 1395 37500 SH SOLE 37500
UNION PLANTERS CORP. COM 908068109 838 30000 SH SOLE 30000
USG CORP COM 903293405 744 24500 SH SOLE 24500
UNITIL CORP COM 913259107 694 26000 SH SOLE 26000
UNITED TECHNOLOGIES COM 913017109 362 6150 SH SOLE 6150
UNITED TECHNOLOGIES COM 913017109 1178 20000 SH CALL SOLE 0
UNITED TECHNOLOGIES COM 913017109 1178 20000 SH PUT SOLE 0
VION PHARMACEUTICALS INC COM 927624106 544 72500 SH SOLE 72500
VODAFONE GROUP PLC - ADR ADR 92857W100 244 5900 SH SOLE 5900
VODAFONE GROUP PLC - ADR ADR 92857W100 829 20000 SH CALL SOLE 0
VODAFONE GROUP PLC - ADR ADR 92857W100 829 20000 SH PUT SOLE 0
VASTAR RESOURCES INC COM 922380100 7588 92400 SH SOLE 92400
VASTAR RESOURCES INC COM 922380100 4771 58100 SH CALL SOLE 0
VERIO INC COM 923433106 26472 477100 SH SOLE 477100
VERIO INC COM 923433106 5271 95000 SH CALL SOLE 0
VERISIGN INC COM 92343E102 1500 8500 SH CALL SOLE 0
VERISIGN INC COM 92343E102 1500 8500 SH PUT SOLE 0
VITESSE SEMICONDUCTOR CORP COM 928497106 736 10000 SH CALL SOLE 0
VITESSE SEMICONDUCTOR CORP COM 928497106 736 10000 SH PUT SOLE 0
WACHOVIA CORP COM 929771103 2685 49500 SH SOLE 49500
WINSTAR COMMUNICATIONS INC COM 975515107 2710 80000 SH CALL SOLE 0
WISCONSIN ENERGY CORP COM 976657106 2280 115100 SH SOLE 115100
WELLS FARGO & COMPANY COM 949746101 4650 120000 SH CALL SOLE 0
WELLS FARGO & COMPANY COM 949746101 2713 70000 SH PUT SOLE 0
WESTERN GAS RES CV PFD $2.625 CVPFD 958259301 1334 40600 SH SOLE 40600
WHIRLPOOL CORP COM 963320106 560 12000 SH CALL SOLE 0
WILLAMETTE INDUSTRIES COM 969133107 665 24400 SH SOLE 24400
EXXON MOBIL CORP COM 30231G102 1546 19700 SH SOLE 19700
XEROX CORP COM 984121103 2075 100000 SH CALL SOLE 0
YAHOO! INC COM 984332106 960 7750 SH SOLE 7750
YAHOO! INC COM 984332106 2280 18400 SH PUT SOLE 0
</TABLE>
