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 31,2000
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: Patrick Iuliano
Title: Financial and Operations Principal
Phone: 203-861-8452
Signature, Place and Date of Signing:
Patrick Iuliano Greenwich, Connecticut MAY 15,2000
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: 410
Form 13F Information Table Value Total: $1,188,512
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
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
APPLE COMPUTER INC COM 037833100 367 2700 SH SOLE 2700
ABBOTT LABORATORIES COM 002824100 1320 37500 SH SOLE 37500
ADC TELECOMMUNICATIONS INC COM 000886101 409 7600 SH SOLE 7600
ADVANCED DIGITAL INFO CORP COM 007525108 685 20000 SH PUT SOLE 0
ADAPTEC INC COM 00651F108 305 7900 SH SOLE 7900
ANDRX CORP COM 034551101 578 5000 SH CALL SOLE 0
ANDRX CORP COM 034551101 1156 10000 SH PUT SOLE 0
ADVANCED ENE CV 5.25% 11/15/06 SDBCV 007973AA8 2427 2000000 PRN SOLE 2000000
AERIAL COMMUNICATIONS INC COM 007655103 4230 74450 SH SOLE 74450
AES CORP COM 00130H105 3583 45500 SH SOLE 45500
AETNA INC COM 008117103 1388 25000 SH CALL SOLE 0
AETNA INC COM 008117103 1388 25000 SH PUT SOLE 0
AFLAC INC COM 001055102 1207 26500 SH SOLE 26500
ASSOCIATES FIRST CAPITAL - A COM 046008108 3014 141000 SH SOLE 141000
AMERICAN GENERAL CORP COM 026351106 2969 52900 SH SOLE 52900
AMERICAN HOME PRODUCTS CORP COM 026609107 285 5300 SH SOLE 5300
AMERICAN INTERNATIONAL GROUP COM 026874107 241 2200 SH SOLE 2200
ALCATEL SA - ADR ADR 013904305 58208 1350000 SH SOLE 1350000
ALKERMES CV 3.75% 2/15/07 144A SDBCV 01642TAA6 3948 4800000 PRN SOLE 4800000
ALKERMES CV PFD 6.50% CVPFD 01642T405 22283 140550 SH SOLE 140550
ALLSTATE CORP USD COM 020002101 1381 58000 SH SOLE 58000
ALTERA CORP COM 021441100 223 2500 SH CALL SOLE 0
ALEXION PHAR 5.75 3/15/7 144A SDBCV 015351AA7 5573 7000000 PRN SOLE 7000000
APPLIED MATERIALS INC COM 038222105 363 3854 SH SOLE 3854
AMAZON.COM INC COM 023135106 496 7400 SH SOLE 7400
AMAZON.COM INC COM 023135106 2345 35000 SH PUT SOLE 0
ABERCROMBIE & FITCH CO CL A COM 002896207 1667 104200 SH SOLE 104200
AMERICA ONLINE INC COM 02364J104 533 7900 SH SOLE 7900
AMERICA ONLINE INC COM 02364J104 674 10000 SH CALL SOLE 0
AMERICA ONLINE INC COM 02364J104 2698 40000 SH PUT SOLE 0
APACHE CORP COM 037411105 2328 46800 SH SOLE 46800
APACHE CORP CV 6.50%2002*ACES CVPFD 037411600 699 15400 SH SOLE 15400
APPLIX INC COM 038316105 261 22500 SH CALL SOLE 0
APPLIX INC COM 038316105 261 22500 SH PUT SOLE 0
<ACQ>ATLANTIC RICHFIELD COM 048825103 5313 62500 SH SOLE 62500
ARTESIAN RESOURCES CORP - CL A COM 043113208 775 33700 SH SOLE 33700
ARROW ELECTRONICS INC COM 042735100 881 25000 SH CALL SOLE 0
ARROW ELECTRONICS INC COM 042735100 881 25000 SH PUT SOLE 0
ASPECT DEVELOPMENT INC COM 045234101 5543 86100 SH SOLE 86100
ATMEL CORP COM 049513104 377 7300 SH SOLE 7300
AVISTA CORP COM 05379B107 4397 107913 SH SOLE 107913
AVIRON CV 5.75% 4/01/05 144A SDBCV 053762AA8 2530 2500000 PRN SOLE 2500000
AVON PRODUCTS INC COM 054303102 1141 39000 SH SOLE 39000
ALLEGHENY ENERGY INC COM 017361106 4845 175000 SH SOLE 175000
ALZA CORP CV ZERO CPN 7/14/14 SDBCV 022615AC2 3867 7500000 PRN SOLE 7500000
ALZA CORP CV 5.00% 05/01/06 SDBCV 022615AD0 4404 4000000 PRN SOLE 4000000
BAAN COMPANY NV COM N08044104 289 50000 SH SOLE 50000
BANK OF AMERICA CORP COM 060505104 5186 98900 SH SOLE 98900
BAXTER INTERNATIONAL COM 071813109 3134 50000 SH SOLE 50000
BURR-BROWN 4.25% 2/15/07 144A SDBCV 122574AD8 5532 5000000 PRN SOLE 5000000
BB&T CORP COM 054937107 449 16000 SH SOLE 16000
BEST BUY COMPANY INC COM 086516101 430 5000 SH CALL SOLE 0
BEST BUY COMPANY INC COM 086516101 860 10000 SH PUT SOLE 0
BARD CR INC COM 067383109 1451 37500 SH SOLE 37500
BLACK & DECKER CORP COM 091797100 432 11500 SH SOLE 11500
BECTON DICKINSON & CO COM 075887109 1345 51100 SH SOLE 51100
BROWN FORMAN CORP CL A COM 115637100 207 4000 SH SOLE 4000
BIOGEN INC COM 090597105 2237 32000 SH CALL SOLE 0
BANK OF NEW YORK CO INC COM 064057102 416 10000 SH CALL SOLE 0
BALLARD POWER SYSTEMS INC COM 05858H104 8458 100100 SH SOLE 100100
BMC SOFTWARE INC COM 055921100 3703 75000 SH CALL SOLE 0
BMC SOFTWARE INC COM 055921100 741 15000 SH PUT SOLE 0
BRISTOL MYERS SQUIBB COM 110122108 3335 57500 SH SOLE 57500
BP AMOCO PLC - ADR ADR 055622104 564 10600 SH SOLE 10600
BROOKS AUTOMATION INC COM 11434A100 1481 23700 SH SOLE 23700
BROADWING CV 7.25% 2007 SER A CVPFD 111620209 17379 52267 SH SOLE 52267
BEAR STEARNS COMPANIES COM 073902108 331 7250 SH SOLE 7250
BOSTON SCIENTIFIC CORP COM 101137107 469 22000 SH PUT SOLE 0
BIOTIME INC COM 09066L105 255 22200 SH SOLE 22200
CITIGROUP INC COM 172967101 371 6200 SH SOLE 6200
CAREINSITE INC COM 14170M106 856 36600 SH SOLE 36600
CATERPILLAR INC COM 149123101 1045 26500 SH SOLE 26500
<ACQ>CBS CORPORATION COM 12490K107 1699 30000 SH CALL SOLE 0
<ACQ>CBS CORPORATION COM 12490K107 1699 30000 SH PUT SOLE 0
CENDANT CORP COM 151313103 6205 335400 SH SOLE 335400
CORDANT TECHNOLOGIES INC COM 218412104 7636 135000 SH SOLE 135000
CONSTELLATION ENERGY GRP COM 210371100 3882 121800 SH SOLE 121800
CEPHALON CV 7.25%2049 144A CVPFD 156708307 4303 40000 SH SOLE 40000
COLUMBIA ENERGY GROUP COM 197648108 6695 113000 SH SOLE 113000
CHIRON CORP COM 170040109 499 10000 SH CALL SOLE 0
CHIRON CORP COM 170040109 499 10000 SH PUT SOLE 0
CHIEFTAIN INTL CV PFD $1.8125 CVPFD 168672202 1023 37500 SH SOLE 37500
CIENA CORP COM 171779101 631 5000 SH CALL SOLE 0
CIENA CORP COM 171779101 631 5000 SH PUT SOLE 0
CONECTIV INC COM 206829103 4032 230400 SH SOLE 230400
CELESTICA INC COM 15101Q108 531 10000 SH CALL SOLE 0
CELESTICA INC COM 15101Q108 531 10000 SH PUT SOLE 0
CLOROX CO COM 189054109 2366 71700 SH SOLE 71700
COMERICA INC COM 200340107 3300 78800 SH SOLE 78800
CHASE MANHATTAN CORP (NEW) COM 16161A108 384 4400 SH SOLE 4400
CHASE MANHATTAN CORP (NEW) COM 16161A108 2180 25000 SH CALL SOLE 0
COMCAST CORP SPECIAL CL A COM 200300200 1302 30000 SH CALL SOLE 0
CMG INFO SVCS INC COM 125750109 578 5100 SH SOLE 5100
CMG INFO SVCS INC COM 125750109 2266 20000 SH PUT SOLE 0
CMS ENERGY CORP COM 125896100 3234 178400 SH SOLE 178400
CNA FINANCIAL CORP COM 126117100 323 10000 SH SOLE 10000
CONCENTRIC NETWORK CORP COM 20589R107 4656 84650 SH SOLE 84650
3COM CORP COM 885535104 417 7500 SH SOLE 7500
3COM CORP COM 885535104 2503 45000 SH CALL SOLE 0
3COM CORP COM 885535104 2503 45000 SH PUT SOLE 0
COSTCO WHOLESALE CORP COM 22160K105 526 10000 SH CALL SOLE 0
COSTCO WHOLESALE CORP COM 22160K105 526 10000 SH PUT SOLE 0
CALPINE CORPORATION COM 131347106 12596 134000 SH SOLE 134000
COMPAQ COMPUTER CORP COM 204493100 702 26000 SH SOLE 26000
COMPUWARE CORP COM 205638109 563 26700 SH SOLE 26700
COMPUWARE CORP COM 205638109 1053 50000 SH CALL SOLE 0
COMPUWARE CORP COM 205638109 1053 50000 SH PUT SOLE 0
CURAGEN CV 6% 02/02/07 144A SDBCV 23126RAA9 886 1000000 PRN SOLE 1000000
CIRRUS LOGIC CV 6% 12/15/03 SDBCV 172755AC4 12129 13130000 PRN SOLE 13130000
CSX CORP COM 126408103 881 37500 SH SOLE 37500
CTG RESOURCES INC COM 125957100 257 6900 SH SOLE 6900
C-CUBE MICROSYSTEMS ICN COM 125015107 7798 107100 SH SOLE 107100
C-CUBE MICROSYSTEMS ICN COM 125015107 816 11200 SH PUT SOLE 0
CONVERGYS CORP COM 212485106 271 7000 SH PUT SOLE 0
CVS CORP COM 126650100 3803 101250 SH SOLE 101250
CYMER CV 3.50% 08/06/04 SDBCV 232572AC1 14160 12000000 PRN SOLE 12000000
DOUBLECLICK INC COM 258609304 3839 41000 SH CALL SOLE 0
DUFF & PHELPS CREDIT RATING COM 26432F109 1440 14450 SH SOLE 14450
DUPONT EI DE NEMOURS & CO COM 263534109 1985 37500 SH SOLE 37500
DELL COMPUTER CORP COM 247025109 383 7100 SH SOLE 7100
DELL COMPUTER CORP COM 247025109 2697 50000 SH CALL SOLE 0
DELL COMPUTER CORP COM 247025109 2697 50000 SH PUT SOLE 0
VALHI INC CV 0.0% 10/20/7 SDBCV 918905AC4 9854 15254000 PRN SOLE 15254000
DII GROUP INC COM 232949107 11340 100300 SH SOLE 100300
THE WALT DISNEY CO COM 254687106 5000 121200 SH CALL SOLE 0
THE WALT DISNEY CO COM 254687106 3762 91200 SH PUT SOLE 0
DOW CHEMICAL CO COM 260543103 1174 10300 SH SOLE 10300
DETROIT EDISON CO (DTE) COM 233331107 1439 49300 SH SOLE 49300
DUKE POWER CO COM 264399106 3749 71400 SH SOLE 71400
DYNEGY INC COM 26816Q101 4674 74500 SH SOLE 74500
EBAY INC COM 278642103 1056 6000 SH CALL SOLE 0
EBAY INC COM 278642103 1056 6000 SH PUT SOLE 0
EMPIRE DISTRICT ELECTRIC CO COM 291641108 771 39300 SH SOLE 39300
EL PASO ELECTRIC CO COM 283677854 5946 573150 SH SOLE 573150
EASTERN ENTERPRISES COM 27637F100 8286 138400 SH SOLE 138400
ELAN CORP PLC - ADR ADR 284131208 950 20000 SH CALL SOLE 0
ELAN CORP PLC - ADR ADR 284131208 950 20000 SH PUT SOLE 0
<ACQ>EARTHLINK NETWORK INC COM 270321102 321 16500 SH SOLE 16500
<ACQ>EARTHLINK NETWORK INC COM 270321102 583 30000 SH CALL SOLE 0
<ACQ>EARTHLINK NETWORK INC COM 270321102 583 30000 SH PUT SOLE 0
EMC CORP-MASS COM 268648102 340 2700 SH SOLE 2700
EMCOR GROUP CV 5.75% 04/01/05 SDBCV 29084QAC4 3038 3250000 PRN SOLE 3250000
ENRON CORP COM 293561106 3744 50000 SH CALL SOLE 0
ENRON CORP COM 293561106 3744 50000 SH PUT SOLE 0
EL PASO ENERGY CORP COM 283905107 2039 50500 SH SOLE 50500
EQUITABLE RESOURCES INC COM 294549100 269 6000 SH SOLE 6000
E-TEK DYNAMICS INC COM 269240107 941 4000 SH CALL SOLE 0
E-TEK DYNAMICS INC COM 269240107 941 4000 SH PUT SOLE 0
ENTERGY CORP COM 29364G103 585 29000 SH SOLE 29000
EDUCATIONAL VIDEO CONF COM 281505107 879 24600 SH SOLE 24600
IXNET INC COM 46601C109 2578 56200 SH SOLE 56200
FLEET BOSTON FINANCIAL CORP COM 339030108 1580 43300 SH SOLE 43300
FINANCIAL CV 4.5% 5/01/05 SDBCV 317492AC0 5005 6158000 PRN SOLE 6158000
FANNIE MAE COM 313586109 724 12800 SH SOLE 12800
FANNIE MAE COM 313586109 5656 100000 SH CALL SOLE 0
FANNIE MAE COM 313586109 2828 50000 SH PUT SOLE 0
FLORIDA PROGRESS CORP COM 341109106 330 7200 SH SOLE 7200
FPL GROUP INC COM 302571104 11207 243300 SH SOLE 243300
FEDERAL HOME LN MTG CORP COM 313400301 517 11700 SH SOLE 11700
FEDERAL HOME LN MTG CORP COM 313400301 2209 50000 SH CALL SOLE 0
FEDERAL HOME LN MTG CORP COM 313400301 2209 50000 SH PUT SOLE 0
FIRST UNION CORP (N.C) COM 337358105 5334 143200 SH SOLE 143200
GILLETTE COMPANY COM 375766102 5653 150000 SH CALL SOLE 0
NICOR INC COM 654086107 978 29700 SH SOLE 29700
GLOBAL CROSSING LTD COM G3921A100 520 12700 SH SOLE 12700
GLOBAL CROSSING LTD COM G3921A100 1228 30000 SH CALL SOLE 0
GLOBAL CROSSING LTD COM G3921A100 1228 30000 SH PUT SOLE 0
GANNETT INC COM 364730101 1281 18200 SH SOLE 18200
GENESCO CV 5.50% 04/15/05 SDBCV 371532AL6 6056 7000000 PRN SOLE 7000000
GENESCO CV 5.50% 04/15/05 144A SDBCV 371532AK8 1730 2000000 PRN SOLE 2000000
GUIDANT CORP COM 401698105 707 12000 SH SOLE 12000
GENZYME CORP - GENL DIVISION COM 372917104 1504 30000 SH CALL SOLE 0
GLOBAL MARINE INC COM 379352404 1523 60000 SH CALL SOLE 0
GLOBAL MARINE INC COM 379352404 1777 70000 SH PUT SOLE 0
GLAXO WELLCOME PLC ADR USD ADR 37733W105 1433 25000 SH CALL SOLE 0
GLAXO WELLCOME PLC ADR USD ADR 37733W105 1433 25000 SH PUT SOLE 0
GENERAL MOTORS CORP COM 370442105 364 4400 SH SOLE 4400
GAP INC COM 364760108 3985 80000 SH CALL SOLE 0
GAP INC COM 364760108 2989 60000 SH PUT SOLE 0
GREENPOINT FINANCIAL CORP COM 395384100 1168 59500 SH SOLE 59500
GPU INC COM 36225X100 5894 215300 SH SOLE 215300
GTE CORP COM 362320103 5325 75000 SH SOLE 75000
GTE CORP COM 362320103 1420 20000 SH CALL SOLE 0
GTE CORP COM 362320103 1420 20000 SH PUT SOLE 0
GATEWAY INC COM 367626108 727 13700 SH SOLE 13700
GATEWAY INC COM 367626108 530 10000 SH CALL SOLE 0
GATEWAY INC COM 367626108 1060 20000 SH PUT SOLE 0
HALLIBURTON CO COM 406216101 1090 26500 SH SOLE 26500
HOUSEHOLD INTL INC COM 441815107 2164 58000 SH SOLE 58000
HI/FN INC COM 428358105 325 5000 SH CALL SOLE 0
HI/FN INC COM 428358105 325 5000 SH PUT SOLE 0
HARTFORD LIFE CL A COM 416592103 3516 75000 SH SOLE 75000
HEALTHEON/WEBMD CORPORATION COM 422209106 225 9800 SH SOLE 9800
HEALTHEON/WEBMD CORPORATION COM 422209106 230 10000 SH CALL SOLE 0
HEALTHEON/WEBMD CORPORATION COM 422209106 230 10000 SH PUT SOLE 0
H J HEINZ CO COM 423074103 5280 151400 SH SOLE 151400
HOMESTORE.COM INC COM 437852106 244 5000 SH CALL SOLE 0
HONEYWELL INTL INC COM 438516106 1976 37500 SH SOLE 37500
HERCULES INC COM 427056106 605 37500 SH SOLE 37500
HARBINGER CORP COM 41145C103 291 10000 SH PUT SOLE 0
HANNAFORD BROS CO COM 410550107 2028 27500 SH SOLE 27500
HUTCHINSON CV 6% 3/15/05 SDBCV 448407AC0 2614 3220000 PRN SOLE 3220000
HEWLETT PACKARD CO COM 428236103 359 2700 SH SOLE 2700
HEWLETT CV ZCPN 10/14/17 144A SDBCV 428236AA1 1127 1500000 PRN SOLE 1500000
IDACORP INC COM 451107106 799 23000 SH SOLE 23000
INFORMIX CORP COM 456779107 339 20000 SH CALL SOLE 0
INFORMIX CORP COM 456779107 339 20000 SH PUT SOLE 0
IMMUNEX CORP COM 452528102 1903 30000 SH PUT SOLE 0
INCYTE CV 5.50% 02/01/07 144A SDBCV 45337CAA0 8961 11000000 PRN SOLE 11000000
INKTOMI CORP COM 457277101 1950 10000 SH CALL SOLE 0
INKTOMI CORP COM 457277101 6338 32500 SH PUT SOLE 0
INTEL CORP COM 458140100 739 5600 SH SOLE 5600
INTEL CORP COM 458140100 3958 30000 SH CALL SOLE 0
INTUIT INC COM 461202103 1631 30000 SH CALL SOLE 0
INTUIT INC COM 461202103 1631 30000 SH PUT SOLE 0
INTERNATIONAL PAPER CO COM 460146103 941 22000 SH SOLE 22000
IPC COMMUNICATIONS INC COM 44980K206 659 3200 SH SOLE 3200
IPALCO ENTERPRISES INC COM 462613100 8408 431200 SH SOLE 431200
INTERVU INC COM 46114R106 1620 18000 SH SOLE 18000
I2 TECH CV 5.25% 12/15/06 144A SDBCV 465754AD1 1754 1000000 PRN SOLE 1000000
PENNEY JC CO COM 708160106 695 46700 SH SOLE 46700
JOHNSON & JOHNSON COM 478160104 10860 154600 SH SOLE 154600
JOSTENS INC COM 481088102 3926 161050 SH SOLE 161050
J P MORGAN & CO COM 616880100 2820 21400 SH SOLE 21400
KEANE INC COM 486665102 217 8600 SH SOLE 8600
KEANE INC COM 486665102 505 20000 SH PUT SOLE 0
KEYCORP COM 493267108 1777 93500 SH SOLE 93500
KLA - TENCOR CORP COM 482480100 5055 60000 SH CALL SOLE 0
KULICK CV 4.75 12/15/06 144A SDBCV 501242AC5 8566 5570000 PRN SOLE 5570000
KANSAS CITY POWER & LIGHT COM 485134100 7296 251600 SH SOLE 251600
COCA COLA COMPANY COM 191216100 469 10000 SH CALL SOLE 0
KROGER CO. COM 501044101 5233 298000 SH SOLE 298000
<ACQ>INTERLEAF INC COM 458729209 2385 50750 SH SOLE 50750
LITTLEFUSE INC WTS 12/27/01 RT 537008120 975 30000 SH SOLE 30000
LG&E ENERGY CORP USD COM 501917108 4644 203000 SH SOLE 203000
LEGATO SYSTEMS INC COM 524651106 446 10000 SH CALL SOLE 0
LEGATO SYSTEMS INC COM 524651106 446 10000 SH PUT SOLE 0
LABORATORY CV PFD 8.50% SR A CVPFD 50540R201 10781 139308 SH SOLE 139308
LIPOSOME COMPANY INC COM 536310105 4015 229850 SH SOLE 229850
LINCOLN NATIONAL CORP COM 534187109 2663 79500 SH SOLE 79500
ALLIANT ENERGY CORP COM 018802108 2472 81200 SH SOLE 81200
LUCENT TECH INC COM 549463107 447 7300 SH SOLE 7300
LUCENT TECH INC COM 549463107 3676 60000 SH CALL SOLE 0
LUCENT TECH INC COM 549463107 613 10000 SH PUT SOLE 0
LEVEL 3 COMMUNICATIONS INC COM 52729N100 909 8600 SH SOLE 8600
LEVEL 3 COMMUNICATIONS INC COM 52729N100 9814 92800 SH PUT SOLE 0
LEXMARK INTL GROUP INC CL A COM 529771107 423 4000 SH CALL SOLE 0
LEXMARK INTL GROUP INC CL A COM 529771107 1904 18000 SH PUT SOLE 0
MACROCHEM CORP/DELAWARE COM 555903103 523 74700 SH SOLE 74700
MCLEODUSA INC CL-A COM 582266102 1696 20000 SH PUT SOLE 0
MCN ENERGY GROUP INC COM 55267J100 4253 170100 SH SOLE 170100
MELLON FINANCIAL CORP COM 58551A108 1654 55600 SH SOLE 55600
MERRILL LYNCH & CO COM 590188108 1365 13000 SH SOLE 13000
METROMEDIA FIBER NETWORK-A COM 591689104 968 10000 SH PUT SOLE 0
MICHAEL STORES CV 6.75% 1/15/3 SDBCV 594087AC2 1863 1665000 PRN SOLE 1665000
MIRAGE RESORTS INC COM 60462E104 10373 535400 SH SOLE 535400
MIRAGE RESORTS INC COM 60462E104 388 20000 SH CALL SOLE 0
MIRAGE RESORTS INC COM 60462E104 388 20000 SH PUT SOLE 0
MILLENNIUM CV 5.50% 01/15/07 SDBCV 599902AA1 4748 5100000 PRN SOLE 5100000
MMC NETWORKS INC COM 55308N102 660 20000 SH CALL SOLE 0
MMC NETWORKS INC COM 55308N102 1320 40000 SH PUT SOLE 0
METAMOR WORLDWIDE INC COM 59133P100 3525 124500 SH SOLE 124500
MSC SOFTWARE CV 7.875% 8/18/4 SDBCV 553531AA2 414 432000 PRN SOLE 432000
PHILIP MORRIS COS INC COM 718154107 528 25000 SH SOLE 25000
MINNESOTA POWER INC COM 604110106 5839 351200 SH SOLE 351200
MP3.COM INC COM 62473M109 210 10000 SH PUT SOLE 0
MERCK & CO COM 589331107 1553 25000 SH SOLE 25000
MICROSTRATEGY INC COM 594972101 261 3000 SH SOLE 3000
MICROSTRATEGY INC COM 594972101 870 10000 SH PUT SOLE 0
MONSANTO CO COM 611662107 29170 585600 SH SOLE 585600
MONTANA POWER CO COM 612085100 3136 49000 SH PUT SOLE 0
MICRON TECHNOLOGY INC COM 595112103 706 5600 SH SOLE 5600
MAXIM INTERGRATED PRODUCTS COM 57772K101 426 6000 SH SOLE 6000
MYLAN LABORATORIES COM 628530107 825 30000 SH CALL SOLE 0
MYLAN LABORATORIES COM 628530107 825 30000 SH PUT SOLE 0
NAB CV PF 7.875% UNIT CVPFD 632525309 19080 800000 SH SOLE 800000
NATIONAL CITY CORP COM 635405103 1462 70900 SH SOLE 70900
NEW CENTURY ENERGIES INC COM 64352U103 544 18100 SH SOLE 18100
ENERGY EAST CORPORATION COM 29266M109 8008 404168 SH SOLE 404168
NEW ERA OF NETWORKS INC COM 644312100 393 10000 SH PUT SOLE 0
NISOURCE INC COM 65473P105 1156 68500 SH SOLE 68500
NEWBRIDGE NETWORKS CORP COM 650901101 6082 187500 SH SOLE 187500
NEWBRIDGE NETWORKS CORP COM 650901101 1135 35000 SH CALL SOLE 0
NEWBRIDGE NETWORKS CORP COM 650901101 2270 70000 SH PUT SOLE 0
NOVELL INC COM 670006105 243 8500 SH SOLE 8500
NOVELL INC COM 670006105 573 20000 SH CALL SOLE 0
NOVELL INC COM 670006105 573 20000 SH PUT SOLE 0
NORFOLK SOUTHERN CORP COM 655844108 534 37500 SH SOLE 37500
NORTHERN STATES POWER CO COM 665772109 4873 245200 SH SOLE 245200
NSTAR COM 67019E107 3620 86200 SH SOLE 86200
NUI CORP COM 629430109 1827 70600 SH SOLE 70600
NOVELLUS SYSTEMS INC COM 670008101 561 10000 SH SOLE 10000
NOVELLUS SYSTEMS INC COM 670008101 1123 20000 SH CALL SOLE 0
NEWELL RUBBERMAID INC COM 651229106 930 37500 SH SOLE 37500
NORTHWEST NATURAL GAS CO COM 667655104 238 12200 SH SOLE 12200
QUANEX CORP CV 6.88% 06/30/07 SDBCV 747620AC6 3946 4505000 PRN SOLE 4505000
OLD KENT FINANCIAL CORP COM 679833103 973 30400 SH SOLE 30400
<CLD>OLD NATL CV 8.00% 5/15/00 SDBCV 680033AA5 3835 1425000 PRN SOLE 1425000
BANK ONE CORP COM 06423A103 2625 76100 SH SOLE 76100
ORACLE CORP COM 68389X105 351 4500 SH SOLE 4500
<MGR>ORTEL CORP COM 68749W102 6973 37150 SH SOLE 37150
OXIGENE INC COM 691828107 317 15000 SH CALL SOLE 0
OXIGENE INC COM 691828107 740 35000 SH PUT SOLE 0
PHILLIPS PETROLEUM CO COM 718507106 1559 33700 SH SOLE 33700
<ACQ>PIMCO ADVISORS HLDGS LP COM 69338P102 8559 223400 SH SOLE 223400
PAIRGAIN TECHNOLOGIES INC COM 695934109 1448 77500 SH SOLE 77500
P G & E CORP COM 69331C108 4540 216200 SH SOLE 216200
PUBLIC SERVICE ENTERPRISE GP COM 744573106 764 25800 SH SOLE 25800
PETSMART CV 6.75% 11/1/04 SDBCV 716768AB2 1600 2500000 PRN SOLE 2500000
PROCTER & GAMBLE COM 742718109 9979 176600 SH SOLE 176600
PROCTER & GAMBLE COM 742718109 1130 20000 SH CALL SOLE 0
PHILIPPINE CV PFD $3.50 SR III CVPFD 718252703 10500 251500 SH SOLE 251500
PUBLIC SERVICE CO OF NEW MEX COM 744499104 1199 76100 SH SOLE 76100
PENNICHUCK CORP COM 708254206 240 10900 SH SOLE 10900
PHARMACIA & UPJOHN INC COM 716941109 387 6500 SH SOLE 6500
PINNACLE WEST CAPITAL COM 723484101 5201 184500 SH SOLE 184500
PROTECTION ONE INC COM 743663304 315 152700 SH SOLE 152700
POTOMAC ELECTRIC POWER COM 737679100 1679 74200 SH SOLE 74200
PPG INDUSTRIES INC COM 693506107 1962 37500 SH SOLE 37500
PPL CORP COM 69351T106 10393 496400 SH SOLE 496400
PRI AUTOMATION INC COM 69357H106 4774 78100 SH SOLE 78100
PAYLESS SHOESOURCE INC COM 704379106 4571 88000 SH SOLE 88000
PENN TREATY CV 6.25% 12/01/03 SDBCV 707874AC7 1282 1700000 PRN SOLE 1700000
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</TABLE>
