<PAGE>
THIS FILING LISTS SECURITIES HOLDINGS REPORTED ON THE FORM 13F FILED ON MAY 15,
1999 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND FOR WHICH THAT REQUEST
WAS DENIED ON OCTOBER 7, 1999.
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 [X]; Amendment Number: 1
This Amendment (Check only one.): [ ] is a restatement.
[X] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: CITADEL LIMITED PARTNERSHIP
Address: 225 WEST WASHINGTON
9/TH/ FLOOR
CHICAGO, IL 60606
13F File Number: 28-5912
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: GERALD A. BEESON
Title: DIRECTOR OF FINANCE AND
ACCOUNTING
Phone: (312) 696-2121
Signature, Place, and Date of Signing:
/s/ Gerald A. Beeson CHICAGO, ILLINOIS 11/1/1999
- -------------------------- ----------------- ---------
[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>
FORM 13F SUMMARY PAGE
Report Summary:
This amendment also contains all risk arbitrage positions for which confidential
treatment was previously requested.
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 369
Form 13F Information Table Value Total: $3,244,400 (thousands)
List of Other Included Managers:
NONE
<PAGE>
<TABLE>
<CAPTION>
FORM 13 F
Page 1 of 27 Name of Reporting Manager Citadel Limited Partnership
- --
- ----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion Item 7:
-----------------------------------
Name of Issuer Title of CUSIP Fair Shares of (b) Shared Managers
Class Number Market Principal As Defined (c) Shared- See Instr. V
Value Amount (a) Sole in Instr. V Other
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
APPLE COMPUTER INC 6.000% CB 037833AE0 89,884,483 70,146 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
ABI 40.000 STRIKE CALL 04/ CALL 0244360105 3,637,500 3,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
AMERICAN BANKERS INS CMN 24456105 46,410,000 892,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
ABBOTT LABS CMN 2824100 903,481 19,300 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
BARRICK GOLD CORP CMN 67901108 2,735,119 160,300 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
ATLANTIC COAST AIRLINES 7% CB 048396AA3 236,625 75 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
ATLANTIC COAST AIRLINES 7% CB 048396AC9 26,697,585 8,462 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
ACTION PERFORMANCE 4.75% CB 004933AB3 3,299,329 3,825 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
ACXIOM (OLD MAY & SPEH) 5. CB 577777AA3 2,958,462 1,980 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
ADOBE SYSTEMS CMN 00724F101 1,838,700 32,400 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
AEHR TEST SYSTEMS INC CMN 00760J108 178,500 34,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
AES CORP. 5.5% CV PFD PFD 1034305 14,387,525 329,800 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
AES 35.000 STRIKE PUT 05/2 PUT 001304105 250,000 1,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
AETNA LIFE & CAS CO CMN 8117103 2,714,100 32,700 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 196,131,408
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
- ------------------------------------------------------------------
Item 8:
Item 1: Voting Authority (Shares)
-----------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
- ------------------------------------------------------------------
<S> <C> <C> <C>
APPLE COMPUTER INC 6.000% n/a
- ------------------------------------------------------------------
ABI 40.000 STRIKE CALL 04/ n/a
- ------------------------------------------------------------------
AMERICAN BANKERS INS X
- ------------------------------------------------------------------
ABBOTT LABS X
- ------------------------------------------------------------------
BARRICK GOLD CORP X
- ------------------------------------------------------------------
ATLANTIC COAST AIRLINES 7% n/a
- ------------------------------------------------------------------
ATLANTIC COAST AIRLINES 7% n/a
- ------------------------------------------------------------------
ACTION PERFORMANCE 4.75% n/a
- ------------------------------------------------------------------
ACXIOM (OLD MAY & SPEH) 5. n/a
- ------------------------------------------------------------------
ADOBE SYSTEMS X
- ------------------------------------------------------------------
AEHR TEST SYSTEMS INC X
- ------------------------------------------------------------------
AES CORP. 5.5% CV PFD n/a
- ------------------------------------------------------------------
AES 35.000 STRIKE PUT 05/2 n/a
- ------------------------------------------------------------------
AETNA LIFE & CAS CO X
- ------------------------------------------------------------------
COLUMN TOTALS
- ------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13 F
Page 2 of 27 Name of Reporting Manager Citadel Limited Partnership
- --
- ----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion Item 7:
-----------------------------------
Name of Issuer Title of CUSIP Fair Shares of (b) Shared Managers
Class Number Market Principal As Defined (c) Shared- See Instr. V
Value Amount (a) Sole in Instr. V Other
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
AMERICAN GEN CORP CMN 26351106 3,997,350 56,700 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
ALLERGAN INC CMN 18490102 3,304,100 37,600 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
AGOURON PHARMACEUTICALS CMN 8488108 33,100,375 585,200 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
AMERADA HESS CORP CMN 23551104 691,900 13,600 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
AMERICAN HOME PRODS CMN 26609107 1,859,625 28,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
ALKERMES, INC 6.5% PFD 01642T405 1,071,135 20,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
ALTERA CORP CMN 21441100 433,577 7,287 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
ALLOU HEALTH & BEAUTY CMN 19782101 320,625 30,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
APPLIED MATERIAL CMN 38222105 428,728 6,950 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
ADVANCED MICRO DEVICES 6% PFD 007903AC1 7,554,048 10,540 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
AMERUS LIFE HLDG 7% DUE 7/ PFD 30734206 214,238 8,700 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
AMP INC CMN 031897101 42,306,356 790,773 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
AMAZON.COM INC 4.75% CB CB 023135AD8 1,198,138 950 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
AUTONATION (REPUBLIC IND) PFD 05300A202 4,402,975 332,300 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 100,883,168
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
- ------------------------------------------------------------------
Item 8:
Item 1: Voting Authority (Shares)
-----------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
- ------------------------------------------------------------------
<S> <C> <C> <C>
AMERICAN GEN CORP X
- ------------------------------------------------------------------
ALLERGAN INC X
- ------------------------------------------------------------------
AGOURON PHARMACEUTICALS X
- ------------------------------------------------------------------
AMERADA HESS CORP X
- ------------------------------------------------------------------
AMERICAN HOME PRODS X
- ------------------------------------------------------------------
ALKERMES, INC 6.5% n/a
- ------------------------------------------------------------------
ALTERA CORP X
- ------------------------------------------------------------------
ALLOU HEALTH & BEAUTY X
- ------------------------------------------------------------------
APPLIED MATERIAL X
- ------------------------------------------------------------------
ADVANCED MICRO DEVICES 6% n/a
- ------------------------------------------------------------------
AMERUS LIFE HLDG 7% DUE 7/ n/a
- ------------------------------------------------------------------
AMP INC X
- ------------------------------------------------------------------
AMAZON.COM INC 4.75% CB n/a
- ------------------------------------------------------------------
AUTONATION (REPUBLIC IND) n/a
- ------------------------------------------------------------------
COLUMN TOTALS
- ------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F
Page 3 of 27 Name of Reporting Manager Citadel Limited Partnership
- --
- ----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion Item 7:
-----------------------------------
Name of Issuer Title of CUSIP Fair Shares of (b) Shared Managers
Class Number Market Principal As Defined (c) Shared- See Instr. V
Value Amount (a) Sole in Instr. V Other
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ANTEC CORP 4.5% CB DUE 200 CB 03664PAB1 744,583 675 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
AON CORPORATION CMN 37389103 234,025 3,700 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
AOL 4% CB DUE 11/15/02 CB 02364JAB0 710,946,188 63,079 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
ANADARKO PETROLEUM CMN 32511107 335,975 8,900 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
ATML 15.000 STRIKE PUT 08/ PUT 049513104 316,875 1,300 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
ATLANTIC RICHFIELD CO CMN 48825103 2,325,375 31,800 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
AMERICAN STORES CMN 30096101 31,348,350 949,950 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
ASCEND COMMUNICATIONS INC CMN 43491109 62,924,631 751,900 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
AT HOME CORP .5246% CB CB 045919AA5 6,695,875 6,302 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
AIRTOUCH COMMUNICATIONS CMN 00949T100 27,958,444 289,350 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
ATMEL CORP 0% CV BOND CB 049513AB0 532,830 1,750 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
ATRIX LABS. 7% REG CB 12/1 CB 04962LAC5 416,151 500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
AVON PRODS INC CMN 54303102 1,764,844 37,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
AMERICAN EXPRESS CO. CMN 25816109 9,737,925 82,700 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 856,282,072
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
- ------------------------------------------------------------------
Item 8:
Item 1: Voting Authority (Shares)
-----------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
- ------------------------------------------------------------------
<S> <C> <C> <C>
ANTEC CORP 4.5% CB DUE 200 n/a
- ------------------------------------------------------------------
AON CORPORATION X
- ------------------------------------------------------------------
AOL 4% CB DUE 11/15/02 n/a
- ------------------------------------------------------------------
ANADARKO PETROLEUM X
- ------------------------------------------------------------------
ATML 15.000 STRIKE PUT 08/ n/a
- ------------------------------------------------------------------
ATLANTIC RICHFIELD CO X
- ------------------------------------------------------------------
AMERICAN STORES X
- ------------------------------------------------------------------
ASCEND COMMUNICATIONS INC X
- ------------------------------------------------------------------
AT HOME CORP .5246% CB n/a
- ------------------------------------------------------------------
AIRTOUCH COMMUNICATIONS X
- ------------------------------------------------------------------
ATMEL CORP 0% CV BOND n/a
- ------------------------------------------------------------------
ATRIX LABS. 7% REG CB 12/1 n/a
- ------------------------------------------------------------------
AVON PRODS INC X
- ------------------------------------------------------------------
AMERICAN EXPRESS CO. X
- ------------------------------------------------------------------
COLUMN TOTALS
- ------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F
Page 4 of 27 Name of Reporting Manager Citadel Limited Partnership
- --
- ----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion Item 7:
-----------------------------------
Name of Issuer Title of CUSIP Fair Shares of (b) Shared Managers
Class Number Market Principal As Defined (c) Shared- See Instr. V
Value Amount (a) Sole in Instr. V Other
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
AUTOZONE INC CMN STK CMN 53332102 212,625 7,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
BERGEN BRUNSWIG CORP -CL CMN 83739102 2,022,000 101,100 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
BB&T CORP. CMN 54937107 369,113 10,200 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
BCE INC CMN 05534B109 212,700 4,800 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
BARD C R INC CMN 67383109 1,603,913 31,800 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
BORDEN CHEM&PLAST CMN 99541203 193,750 25,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
BECTON DICKINSON & CO CMN 75887109 586,181 15,300 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
SUMMIT TECHNOLOGY INC CMN 8.6627E+105 825,000 75,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
BEAS SYSTEMS 4% CB DUE 6/1 CB 073325AB8 24,113,365 30,880 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
BELL ATLANTIC 4.25% EXCH CB 07785GAC4 2,737,500 2,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
BFI 35 STRIKE PUT 9/18/99 PUT 115885105 200,000 1,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
BROWNING-FERRIS CMN 115885105 4,157,038 107,800 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
BRIGGS & STRATTON CORP CMN 109043109 567,094 11,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
BALLARD MEDICAL PRODUCTS CMN 58566100 14,625,000 600,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 52,425,277
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
- ------------------------------------------------------------------
Item 8:
Item 1: Voting Authority (Shares)
-----------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
- ------------------------------------------------------------------
<S> <C> <C> <C>
AUTOZONE INC CMN STK X
- ------------------------------------------------------------------
BERGEN BRUNSWIG CORP -CL X
- ------------------------------------------------------------------
BB&T CORP. X
- ------------------------------------------------------------------
BCE INC X
- ------------------------------------------------------------------
BARD C R INC X
- ------------------------------------------------------------------
BORDEN CHEM&PLAST X
- ------------------------------------------------------------------
BECTON DICKINSON & CO X
- ------------------------------------------------------------------
SUMMIT TECHNOLOGY INC X
- ------------------------------------------------------------------
BEAS SYSTEMS 4% CB DUE 6/1 n/a
- ------------------------------------------------------------------
BELL ATLANTIC 4.25% EXCH n/a
- ------------------------------------------------------------------
BFI 35 STRIKE PUT 9/18/99 n/a
- ------------------------------------------------------------------
BROWNING-FERRIS X
- ------------------------------------------------------------------
BRIGGS & STRATTON CORP X
- ------------------------------------------------------------------
BALLARD MEDICAL PRODUCTS X
- ------------------------------------------------------------------
COLUMN TOTALS
- ------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F
Page 5 of 27 Name of Reporting Manager Citadel Limited Partnership
- --
- ----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion Item 7:
-----------------------------------
Name of Issuer Title of CUSIP Fair Shares of (b) Shared Managers
Class Number Market Principal As Defined (c) Shared- See Instr. V
Value Amount (a) Sole in Instr. V Other
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BAUSCH & LOMB INC CMN 71707103 260,000 4,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
BEAR STEARNS COMPANIES INC CMN 73902108 2,636,563 59,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
BOSTON SCIENTIFIC CORP CMN 101137107 467,188 11,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
BT 60.000 STRIKE PUT 07/17 PUT 066365107 234,375 2,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
BANKERS TRUST CORP CMN 66365107 30,049,125 340,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
LAIDLAW INC 11.500% 04/15/ CB 398048AH1 4,704,750 4,100 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
BEYOND.COM 7.25% CB CB 83403EAA6 2,743,707 1,785 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CARDINAL HEALTH, INC CMN 14149Y108 6,547,200 99,200 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COOPER INDUSTRIES CMN 216669101 737,413 17,300 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COUNTRYWIDE CREDIT IND CMN 222372104 3,360,000 89,600 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CLEAR CHANNEL COMMUNIC CMN 184502102 57,452,444 856,700 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CUC/CD INTL. 3% REG CB CB 126545AD4 20,897,305 22,992 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CENDANT CORP CMN 151313103 5,755,493 361,129 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CRESENT REAL ESTATE 6.75% PFD 225756204 533,058 33,750 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 136,378,620
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
- ------------------------------------------------------------------
Item 8:
Item 1: Voting Authority (Shares)
-----------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
- ------------------------------------------------------------------
<S> <C> <C> <C>
BAUSCH & LOMB INC X
- ------------------------------------------------------------------
BEAR STEARNS COMPANIES INC X
- ------------------------------------------------------------------
BOSTON SCIENTIFIC CORP X
- ------------------------------------------------------------------
BT 60.000 STRIKE PUT 07/17 n/a
- ------------------------------------------------------------------
BANKERS TRUST CORP X
- ------------------------------------------------------------------
LAIDLAW INC 11.500% 04/15/ n/a
- ------------------------------------------------------------------
BEYOND.COM 7.25% CB n/a
- ------------------------------------------------------------------
CARDINAL HEALTH, INC X
- ------------------------------------------------------------------
COOPER INDUSTRIES X
- ------------------------------------------------------------------
COUNTRYWIDE CREDIT IND X
- ------------------------------------------------------------------
CLEAR CHANNEL COMMUNIC X
- ------------------------------------------------------------------
CUC/CD INTL. 3% REG CB n/a
- ------------------------------------------------------------------
CENDANT CORP X
- ------------------------------------------------------------------
CRESENT REAL ESTATE 6.75% n/a
- ------------------------------------------------------------------
COLUMN TOTALS
- -----------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F
Page 6 of 27 Name of Reporting Manager Citadel Limited Partnership
- --
- ----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion Item 7:
-----------------------------------
Name of Issuer Title of CUSIP Fair Shares of (b) Shared Managers
Class Number Market Principal As Defined (c) Shared- See Instr. V
Value Amount (a) Sole in Instr. V Other
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BRIGHTPOINT 0% OID DUE 3/ CB 109473AC2 6,628,132 27,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CENTRAL GARDEN & PET 6% CB 153527AC0 2,359,816 2,605 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CULLEN/FROST BANKERS INC CMN 229899109 282,831 5,900 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COASTAL CORP CMN 190441105 1,917,300 58,100 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CHOCK FULL O'NUTS 7.000% CB 170268AC0 417,897 459 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CHECK POINT SOFTWARE CMN M22465104 1,247,000 29,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CIRCUS CIRCUS ENTERPR INC CMN 172909103 672,644 38,300 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CHECKPOINT SYSTEMS 5.25% CB 162825103 2,068,018 3,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CHECKPOINT SYSTEMS 5.25% CB 162825AB9 551,472 800 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CKE RESTAURANTS 4.25% CB CB 12561EAB1 7,290,680 9,593 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CMCSK 99 STRIKE PUT 04/01/ PUT 200300200 10,818,750 3,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COMCAST CORP CMN 200300200 3,272,750 52,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CAREMATRIX 6.25% REG CB 141706AC5 854,904 990 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COMPASS INTL SVCS CORP CMN 20450K108 342,347 76,077 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 38,724,539
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
- ------------------------------------------------------------------
Item 8:
Item 1: Voting Authority (Shares)
-----------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
- ------------------------------------------------------------------
<S> <C> <C> <C>
BRIGHTPOINT 0% OID DUE 3/ n/a
- ------------------------------------------------------------------
CENTRAL GARDEN & PET 6% n/a
- ------------------------------------------------------------------ --
CULLEN/FROST BANKERS INC X
- ------------------------------------------------------------------ -
COASTAL CORP X
- ------------------------------------------------------------------
CHOCK FULL O'NUTS 7.000% n/a
- ------------------------------------------------------------------
CHECK POINT SOFTWARE X
- ------------------------------------------------------------------
CIRCUS CIRCUS ENTERPR INC X
- ------------------------------------------------------------------
CHECKPOINT SYSTEMS 5.25% n/a
- ------------------------------------------------------------------
CHECKPOINT SYSTEMS 5.25% n/a
- ------------------------------------------------------------------
CKE RESTAURANTS 4.25% CB n/a
- ------------------------------------------------------------------
CMCSK 99 STRIKE PUT 04/01/ n/a
- ------------------------------------------------------------------
COMCAST CORP X
- ------------------------------------------------------------------
CAREMATRIX 6.25% REG n/a
------------------------------------------------------------------
COMPASS INTL SVCS CORP X
- ------------------------------------------------------------------
COLUMN TOTALS
- ------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13 F
Page 7 of 27 Name of Reporting Manager Citadel Limited Partnership
-- --
- ----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion Item 7:
-----------------------------------
Name of Issuer Title of CUSIP Fair Shares of (b) Shared Managers
Class Number Market Principal (a) Sole As Defined (c) Shared- See Instr. V
Value Amount in Instr. V Other
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMPTRONIX 6.000% CV PR PFD 20476C205 - 44,544 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COMVERSE TECH 4.5% CB CB 205862AG0 6,792,394 4,650 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CASMYN CORP CMN 147619100 2,514 160,906 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CONSECO INC. CMN 208464107 7,937,963 257,100 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CNET INC. 5.00% CB CB 125945AA3 558,873 400 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CNF TRANSPORTATION CMN 12612W104 570,969 15,100 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CENTOCOR INC 4.75% CB CB 152342AE1 31,417,054 32,200 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COLTEC INDUSTRIES CMN 196879100 19,089,600 1,049,600 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COMPAQ COMPUTER CORP CMN 204493100 823,875 26,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COMPUWARE CORP CMN 205638109 955,000 40,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CAPSTAR BROADCASTING CORP CMN 14067G105 26,320,781 1,147,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CIRRUS LOGIC, INC. 6% CB CB 172755AC4 4,966,553 7,400 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COMPUTER SCIENCES CORP CMN 205363104 673,288 12,200 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CVS CORP 6% DEBT PERC CB 126645209 1,705,000 20,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 101,813,864
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
- ------------------------------------------------------------------
Item 8:
Item 1: Voting Authority (Shares)
-----------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
- ------------------------------------------------------------------
<S> <C> <C> <C>
COMPTRONIX 6.000% CV PR n/a
- ------------------------------------------------------------------
COMVERSE TECH 4.5% CB n/a
- ------------------------------------------------------------------
CASMYN CORP X
- ------------------------------------------------------------------
CONSECO INC. X
- ------------------------------------------------------------------
CNET INC. 5.00% CB n/a
- ------------------------------------------------------------------
CNF TRANSPORTATION X
- ------------------------------------------------------------------
CENTOCOR INC 4.75% CB n/a
- ------------------------------------------------------------------
COLTEC INDUSTRIES X
- ------------------------------------------------------------------
COMPAQ COMPUTER CORP X
- ------------------------------------------------------------------
COMPUWARE CORP X
- ------------------------------------------------------------------
CAPSTAR BROADCASTING CORP X
- ------------------------------------------------------------------
CIRRUS LOGIC, INC. 6% CB n/a
- ------------------------------------------------------------------
COMPUTER SCIENCES CORP X
- ------------------------------------------------------------------
CVS CORP 6% DEBT PERC n/a
- ------------------------------------------------------------------
COLUMN TOTALS
- ------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13 F
Page 8 of 27 Name of Reporting Manager Citadel Limited Partnership
- --
- ----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion Item 7:
-----------------------------------
Name of Issuer Title of CUSIP Fair Shares of (b) Shared Managers
Class Number Market Principal (a) Sole As Defined (c) Shared- See Instr. V
Value Amount in Instr. V Other
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMSCOPE INC CMN 203372107 868,906 41,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CITRIX SYS INC 0% DUE 3/22 CB 177376AA8 2,214,909 6,465 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CENTURY COMMUN -CL A CMN 156503104 18,092,050 389,600 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CITIGROUP INC. CMN 172967101 3,660,038 57,300 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CYPRESS SEMICONDUCTOR CMN 232806109 224,100 24,900 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
DOUBLECLICK 4.75% CB CB 258609AA4 1,627,512 1,300 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
DOUBLECLICK INC CMN 258609304 1,146,994 6,300 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
DOLLAR GEN CORP CMN 256669102 4,093,600 120,400 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
DISNEY WALT CO CMN 254687106 4,864,838 156,300 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
DELTA & PINE LAND CO CMN 247357106 13,837,500 450,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
DIME BANCORP INC CMN 25429Q102 238,831 10,300 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
DOW CHEMICAL COMPANY CMN 260543103 9,747,413 104,600 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
DURA AUTOMOTIVE SYS INC CMN 265903104 344,650 12,200 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
DREYER'S GRAND ICE CREAM CMN 261878102 2,403,788 185,800 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 63,365,127
- -----------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
- ------------------------------------------------------------------
Item 8:
Item 1: Voting Authority (Shares)
-----------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
- ------------------------------------------------------------------
<S> <C> <C> <C>
- ------------------------------------------------------------------
COMMSCOPE INC X
- ------------------------------------------------------------------
CITRIX SYS INC 0% DUE 3/22 n/a
- ------------------------------------------------------------------
CENTURY COMMUN -CL A X
- ------------------------------------------------------------------
CITIGROUP INC. X
- ------------------------------------------------------------------
CYPRESS SEMICONDUCTOR X
- ------------------------------------------------------------------
DOUBLECLICK 4.75% CB n/a
- ------------------------------------------------------------------
DOUBLECLICK INC X
- ------------------------------------------------------------------
DOLLAR GEN CORP X
- ------------------------------------------------------------------
DISNEY WALT CO X
- ------------------------------------------------------------------
DELTA & PINE LAND CO X
- ------------------------------------------------------------------
DIME BANCORP INC X
- ------------------------------------------------------------------
DOW CHEMICAL COMPANY X
- ------------------------------------------------------------------
DURA AUTOMOTIVE SYS INC X
- ------------------------------------------------------------------
DREYER'S GRAND ICE CREAM X
- ------------------------------------------------------------------
COLUMN TOTALS
- ------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F
Page 9 of 27 Name of Reporting Manager Citadel Limited Partnership
- --
- ----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion Item 7:
-----------------------------------
Name of Issuer Title of CUSIP Fair Shares of (b) Shared Managers
Class Number Market Principal As Defined (c) Shared- See Instr. V
Value Amount (a) Sole in Instr. V Other
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
DUKE ENERGY COMMON STOCK CMN 264399106 1,929,400 35,200 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
DURA PHARMACETICALS 3.5% C CB 26632SAA7 8,001,242 10,575 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
EAGLE HARDWARE & GARDEN CO CMN 26959B101 31,669,276 829,310 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
ECOLAB INC CMN 278865100 1,657,850 46,700 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
EQUIFAX INC CMN STK CMN 294429105 838,750 24,400 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
ESTEE LAUDER MAND. 6.25% T PFD 518437207 3,153,700 37,600 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
ESTEE LAUDER TRACES 6.25% PFD 518438205 3,421,600 37,600 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
EMC CORPORATION COMMON STO CMN 268648102 204,400 1,600 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
EMERSON ELECTRIC COMMON ST CMN 291011104 2,858,625 54,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
ENTRUST TECHNOLOGIES INC. CMN 293848107 421,875 12,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
EXECUTIVE RISK INC CMN STK CMN 301586103 13,859,200 195,200 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
ELECTRO SCIENTIFIC INDS IN CMN 285229100 372,000 8,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
EXIDE CORP CMN STK CMN 302051107 764,288 68,700 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
FEDERATED DEPT. 8.125% STR CB 31410HAF8 476,438 450 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 69,628,642
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
- ------------------------------------------------------------------
Item 8:
Item 1: Voting Authority (Shares)
-----------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
- ------------------------------------------------------------------
<S> <C> <C> <C>
DUKE ENERGY COMMON STOCK X
- ------------------------------------------------------------------
DURA PHARMACETICALS 3.5% C n/a
- ------------------------------------------------------------------
EAGLE HARDWARE & GARDEN CO X
- ------------------------------------------------------------------
ECOLAB INC X
- ------------------------------------------------------------------
EQUIFAX INC CMN STK X
- ------------------------------------------------------------------
ESTEE LAUDER MAND. 6.25% T n/a
- ------------------------------------------------------------------
ESTEE LAUDER TRACES 6.25% n/a
- ------------------------------------------------------------------
EMC CORPORATION COMMON STO X
- ------------------------------------------------------------------
EMERSON ELECTRIC COMMON ST X
- ------------------------------------------------------------------
ENTRUST TECHNOLOGIES INC. X
- ------------------------------------------------------------------
EXECUTIVE RISK INC CMN STK X
- ------------------------------------------------------------------
ELECTRO SCIENTIFIC INDS IN X
- ------------------------------------------------------------------
EXIDE CORP CMN STK X
- ------------------------------------------------------------------
FEDERATED DEPT. 8.125% STR n/a
- ------------------------------------------------------------------
COLUMN TOTALS
- ------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F
Page 10 of 27 Name of Reporting Manager Citadel Limited Partnership
-- --
- ----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion Item 7:
-----------------------------------
Name of Issuer Title of CUSIP Fair Shares of (b) Shared Managers
Class Number Market Principal As Defined (c) Shared- See Instr. V
Value Amount (a) Sole in Instr. V Other
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
FDX CORPORATION CMN 31304N107 6,026,400 64,800 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
FAMILY GOLF CENTERS 5.75% CB 30701AAC0 1,017,666 1,667 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
FLEETWOOD CAPITAL TRUST 6% PFD 339072407 13,796,443 319,900 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
FRED MEYER INC CMN 592907109 46,034,363 781,900 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
FRONTIER CORP CMN 35906P105 28,012,500 540,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
FIRST TENNESSEE NATL CORP CMN 337162101 446,825 12,200 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
FRONTIER INS GRP INC CMN 359081106 302,813 25,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
FORD MOTOR CO CMN 345370100 6,031,550 106,400 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
FUISZ TECH 7% CB DUE 10/15 CB 359536AB5 4,142,284 5,990 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
FIRST VIRGINIA BANKS INC CMN 337477103 383,775 8,400 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
GLOBAL LIGHT TELECOMM CMN 37934X100 225,000 50,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
GANNETT INC CMN 364730101 1,745,100 27,700 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
GEOCITIES CMN 37247V106 49,796,156 454,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
GOLDEN WEST FINL CORP DEL CMN 381317106 1,613,950 16,900 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 159,574,824
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
- ------------------------------------------------------------------
Item 8:
Item 1: Voting Authority (Shares)
-----------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
- ------------------------------------------------------------------
<S> <C> <C> <C>
FDX CORPORATION X
- ------------------------------------------------------------------
FAMILY GOLF CENTERS 5.75% n/a
- ------------------------------------------------------------------
FLEETWOOD CAPITAL TRUST 6% n/a
- ------------------------------------------------------------------
FRED MEYER INC X
- ------------------------------------------------------------------
FRONTIER CORP X
- ------------------------------------------------------------------
FIRST TENNESSEE NATL CORP X
- ------------------------------------------------------------------
FRONTIER INS GRP INC X
- ------------------------------------------------------------------
FORD MOTOR CO X
- ------------------------------------------------------------------
FUISZ TECH 7% CB DUE 10/15 n/a
- ------------------------------------------------------------------
FIRST VIRGINIA BANKS INC X
- ------------------------------------------------------------------
GLOBAL LIGHT TELECOMM X
- ------------------------------------------------------------------
GANNETT INC X
- ------------------------------------------------------------------
GEOCITIES X
- ------------------------------------------------------------------
GOLDEN WEST FINL CORP DEL X
- ------------------------------------------------------------------
COLUMN TOTALS
- ------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F
Page 11 of 27 Name of Reporting Manager Citadel Limited Partnership
-- --
- ----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion Item 7:
-----------------------------------
Name of Issuer Title of CUSIP Fair Shares of (b) Shared Managers
Class Number Market Principal (a) Sole As Defined (c) Shared- See Instr. V
Value Amount in Instr. V Other
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
GETTY IMAGES INC 4.75% CB 374276AA1 460,586 500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
GETTY IMAGES INC 4.75% CB 374276AC7 1,849,779 2,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
GETCHELL GOLD CORP CMN 374265106 2,157,850 82,400 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
GENERAL MLS INC CMN 370334104 7,646,925 101,200 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CORNING INC CMN 219350105 732,000 12,200 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
GMH 69.000 STRIKE PUT 04/0 PUT 370442832 3,712,500 2,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
GENERAL MOTORS (HUGHES) CMN 370442832 804,478 15,950 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
GENERAL MOTORS CMN 370442105 1,731,300 19,900 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
GAP INC CMN 364760108 1,460,681 21,700 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
GEORGIA-PACIFIC CORP CMN 373298108 7,640,325 102,900 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
GLOBALSTAR TELECOMM. LTD PFD 379364508 270,658 6,800 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
GILLETTE CO CMN 375766102 2,425,050 40,800 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
HOME DEPOT CMN 437076102 1,332,150 21,400 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
HMT TECHNOLOGY 5.75% REG CB 403917AD9 472,632 1,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 32,696,913
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
-----------------------------------
(SEC USE ONLY)
- ------------------------------------------------------------------
Item 8:
Item 1: Voting Authority (Shares)
-----------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
- ------------------------------------------------------------------
<S> <C> <C> <C>
GETTY IMAGES INC 4.75% n/a
- ------------------------------------------------------------------
GETTY IMAGES INC 4.75% n/a
- ------------------------------------------------------------------
GETCHELL GOLD CORP X
- ------------------------------------------------------------------
GENERAL MLS INC X
- ------------------------------------------------------------------
CORNING INC X
- ------------------------------------------------------------------
GMH 69.000 STRIKE PUT 04/0 n/a
- ------------------------------------------------------------------
GENERAL MOTORS (HUGHES) X
- ------------------------------------------------------------------
GENERAL MOTORS X
- ------------------------------------------------------------------
GAP INC X
- ------------------------------------------------------------------
GEORGIA-PACIFIC CORP X
- ------------------------------------------------------------------
GLOBALSTAR TELECOMM. LTD n/a
- ------------------------------------------------------------------
GILLETTE CO X
- ------------------------------------------------------------------
HOME DEPOT X
- ------------------------------------------------------------------
HMT TECHNOLOGY 5.75% REG n/a
- ------------------------------------------------------------------
COLUMN TOTALS
- ------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F
Page 12 of 27 Name of Reporting Manager Citadel Limited Partnership
-- --
- ----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion Item 7:
-----------------------------------
Name of Issuer Title of CUSIP Fair Shares of (b) Shared Managers
Class Number Market Principal As Defined (c) Shared- See Instr. V
Value Amount (a) Sole in Instr. V Other
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
HNC SOFTWARE, INC. 4.75% P PFD 40425PAA5 12,660,885 12,782 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
HEINZ (H.J.) CO. CMN 423074103 3,036,738 64,100 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
HONEYWELL INC CMN 438506107 288,088 3,800 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
HEALTHSOUTH CORP CMN 421924101 518,750 50,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
HEWLETT PACKARD CO CMN 428236103 474,688 7,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
ARBOR SOFTWARE 4.5% PROV CB 038918AC2 836,995 1,264 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
INTERDIGITAL COMM CMN 45866A105 138,431 32,100 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
IDEC PHARMACEUTICALS 0% CB 449370AA3 2,854,839 7,350 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
INTEL CMN 458140100 6,930,413 58,300 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
IP 45.000 STRIKE PUT 04/17 PUT 460146103 1,987,500 6,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
INTERNATIONAL PAPER CO. CMN 460146103 17,424,661 413,029 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
NTLI 70.000 STRIKE PUT 09 PUT NTLI700U.W 290,625 500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
JOHNSON CTLS INC CMN 478366107 2,370,250 38,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
JACOR COMMUNICATIONS CMN 469858401 81,502,400 1,072,400 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 131,315,261
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
- ------------------------------------------------------------------
Item 8:
Item 1: Voting Authority (Shares)
-----------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
- ------------------------------------------------------------------
<S> <C> <C> <C>
HNC SOFTWARE, INC. 4.75% P n/a
- ------------------------------------------------------------------
HEINZ (H.J.) CO. X
- ------------------------------------------------------------------
HONEYWELL INC X
- ------------------------------------------------------------------
HEALTHSOUTH CORP X
- ------------------------------------------------------------------
HEWLETT PACKARD CO X
- ------------------------------------------------------------------
ARBOR SOFTWARE 4.5% PROV n/a
- ------------------------------------------------------------------
INTERDIGITAL COMM X
- ------------------------------------------------------------------
IDEC PHARMACEUTICALS 0% n/a
- ------------------------------------------------------------------
INTEL X
- ------------------------------------------------------------------
IP 45.000 STRIKE PUT 04/17 n/a
- ------------------------------------------------------------------
INTERNATIONAL PAPER CO. X
- ------------------------------------------------------------------
NTLI 70.000 STRIKE PUT 09 n/a
- ------------------------------------------------------------------
JOHNSON CTLS INC X
- ------------------------------------------------------------------
JACOR COMMUNICATIONS X
- ------------------------------------------------------------------
COLUMN TOTALS
- ------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F
Page 13 of 27 Name of Reporting Manager Citadel Limited Partnership
-- --
- ----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion Item 7:
-----------------------------------
Name of Issuer Title of CUSIP Fair Shares of (b) Shared Managers
Class Number Market Principal As Defined (c) Shared- See Instr. V
Value Amount (a) Sole in Instr. V Other
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
HARLAND (JOHN H.) CO CMN 805897AA3 1,199,191 1,357 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
MORGAN J P & CO INC CMN 616880100 3,910,988 31,700 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
JEFFERSON PILOT CORP CMN 475070108 345,525 5,100 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
JTS CORP CMN 465940104 604 60,376 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
KAUFMAN & BROAD 8.25% PFD 486168503 3,969,350 515,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
KEANE INC CMN 486665102 2,619,306 122,900 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
KLA-TENCOR INSTRUMENTS CMN 482480100 3,010,098 61,984 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
KUSHNER LOCKE 96 CMN 501337406 310,000 20,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
KIMBERLY CLARK CORP CMN 494368103 570,456 11,900 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
K MART CORP CMN 482584109 282,450 16,800 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
KOHLS CORP CMN 500255104 6,718,950 94,800 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
KANSAS CITY SOUTHN INDS CMN 485170104 1,476,300 25,900 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
KELLOGG CO CMN 487836108 879,125 26,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
AAPL 15.000 STRIKE CALL CALL 037833100 1,093,750 500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 26,386,093
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
- ------------------------------------------------------------------
Item 8:
Item 1: Voting Authority (Shares)
-----------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
- ------------------------------------------------------------------
<S> <C> <C> <C>
HARLAND (JOHN H.) CO X
- ------------------------------------------------------------------
MORGAN J P & CO INC X
- ------------------------------------------------------------------
JEFFERSON PILOT CORP X
- ------------------------------------------------------------------
JTS CORP X
- ------------------------------------------------------------------
KAUFMAN & BROAD 8.25% n/a
- ------------------------------------------------------------------
KEANE INC X
- ------------------------------------------------------------------
KLA-TENCOR INSTRUMENTS X
- ------------------------------------------------------------------
KUSHNER LOCKE 96 X
- ------------------------------------------------------------------
KIMBERLY CLARK CORP X
- ------------------------------------------------------------------
K MART CORP X
- ------------------------------------------------------------------
KOHLS CORP X
- ------------------------------------------------------------------
KANSAS CITY SOUTHN INDS X
- ------------------------------------------------------------------
KELLOGG CO X
- ------------------------------------------------------------------
AAPL 15.000 STRIKE CALL n/a
- ------------------------------------------------------------------
COLUMN TOTALS
- ------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F
Page 14 of 27 Name of Reporting Manager Citadel Limited Partnership
-- --
- ----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion Item 7:
-----------------------------------
Name of Issuer Title of CUSIP Fair Shares of (b) Shared Managers
Class Number Market Principal As Defined (c) Shared- See Instr. V
Value Amount (a) Sole in Instr. V Other
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
AAPL 35.000 STRIKE PUT 01/ PUT 037833100 606,250 1,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CNTO 40.000 STRIKE PUT 01/ PUT 152342101 856,250 1,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
MU 40.000 STRIKE PUT 01/22 PUT 595112103 325,000 500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
MU 50.000 STRIKE PUT 01/22 PUT 595112103 285,938 250 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
HRC 25.000 STRIKE PUT 01/2 PUT 421924101 731,250 500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
LITTON INDUSTRIES INC CMN 538021106 836,100 14,400 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
PLAT 25.000 STRIKE PUT 01/ PUT 72764T101 406,250 1,250 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
NETA 45.000 STRIKE PUT 01/ PUT 640938106 251,250 150 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
INTC 50.00 STRIKE PUT 01/2 PUT 458140100 356,250 500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
INTC 60.00 STRIKE PUT 01/2 PUT 458140100 850,000 500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
LOR 15.000 STRIKE PUT 01/2 PUT 482584109 306,250 1,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
LOR 20.000 STRIKE PUT 01/2 PUT 482584109 937,500 1,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
LOR 17.500 STRIKE PUT 01/2 PUT 482584109 468,750 1,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
LORAL SPACE & COMM. 6% 144 PFD 543885404 557,813 12,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 7,774,850
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
- ------------------------------------------------------------------
Item 8:
Item 1: Voting Authority (Shares)
-----------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
- ------------------------------------------------------------------
<S> <C> <C> <C>
AAPL 35.000 STRIKE PUT 01/ n/a
- ------------------------------------------------------------------
CNTO 40.000 STRIKE PUT 01/ n/a
- ------------------------------------------------------------------
MU 40.000 STRIKE PUT 01/22 n/a
- ------------------------------------------------------------------
MU 50.000 STRIKE PUT 01/22 n/a
- ------------------------------------------------------------------
HRC 25.000 STRIKE PUT 01/2 n/a
- ------------------------------------------------------------------
LITTON INDUSTRIES INC X
- ------------------------------------------------------------------
PLAT 25.000 STRIKE PUT 01/ n/a
- ------------------------------------------------------------------
NETA 45.000 STRIKE PUT 01/ n/a
- ------------------------------------------------------------------
INTC 50.00 STRIKE PUT 01/2 n/a
- ------------------------------------------------------------------
INTC 60.00 STRIKE PUT 01/2 n/a
- ------------------------------------------------------------------
LOR 15.000 STRIKE PUT 01/2 n/a
- ------------------------------------------------------------------
LOR 20.000 STRIKE PUT 01/2 n/a
- ------------------------------------------------------------------
LOR 17.500 STRIKE PUT 01/2 n/a
- ------------------------------------------------------------------
LORAL SPACE & COMM. 6% 144 n/a
- ------------------------------------------------------------------
COLUMN TOTALS
- ------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F
Page 15 of 27 Name of Reporting Manager Citadel Limited Partnership
-- --
- ----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion Item 7:
-----------------------------------
Name of Issuer Title of CUSIP Fair Shares of (b) Shared Managers
Class Number Market Principal As Defined (c) Shared- See Instr. V
Value Amount (a) Sole in Instr. V Other
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
LORAL SPACE & COMM 6% PFD G56462149 44,392,950 994,800 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
LOR 17.500 STRIKE PUT 7/17 PUT 482584109 350,000 1,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
LOR 15.000 STRIKE PUT 10/1 PUT 482584109 365,625 1,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
LOUISIANA-PACIFIC CORP CMN 546347105 337,113 18,100 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
LAM RESEARCH CMN 512807108 290,000 10,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CRUS 10.000 STRIKE PUT 01/ PUT 172755100 964,688 2,450 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
LSI LOGIC 4.25% DUE 3/15/2 CB 502161AB8 1,475,874 1,230 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
SOUTHWEST AIRLINES CMN 844741108 5,375,425 177,700 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
AMD 25.000 STRIKE PUT 01/2 PUT 007903107 518,750 500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CREATIVE COMPUTERS INC CMN 2.2527E+111 3,533,663 117,300 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
MANPOWER, INC. CMN 56418H100 446,463 19,100 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
MDSI MOBILE DATA SOLUTIONS CMN 55268N100 837,800 56,800 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
EMERGING MEXICO FUND INC CMN 290891100 1,459,425 201,300 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
MELLON BANK CMN 585509102 1,653,813 23,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 62,001,586
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
- ------------------------------------------------------------------
Item 8:
Item 1: Voting Authority (Shares)
-----------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
- ------------------------------------------------------------------
<S> <C> <C> <C>
LORAL SPACE & COMM 6% n/a
- ------------------------------------------------------------------
LOR 17.500 STRIKE PUT 7/17 n/a
- ------------------------------------------------------------------
LOR 15.000 STRIKE PUT 10/1 n/a
- ------------------------------------------------------------------
LOUISIANA-PACIFIC CORP X
- ------------------------------------------------------------------
LAM RESEARCH X
- ------------------------------------------------------------------
CRUS 10.000 STRIKE PUT 01/ n/a
- ------------------------------------------------------------------
LSI LOGIC 4.25% DUE 3/15/2 n/a
- ------------------------------------------------------------------
SOUTHWEST AIRLINES X
- ------------------------------------------------------------------
AMD 25.000 STRIKE PUT 01/2 n/a
- ------------------------------------------------------------------
CREATIVE COMPUTERS INC X
- ------------------------------------------------------------------
MANPOWER, INC. X
- ------------------------------------------------------------------
MDSI MOBILE DATA SOLUTIONS X
- ------------------------------------------------------------------
EMERGING MEXICO FUND INC X
- ------------------------------------------------------------------
MELLON BANK X
- ------------------------------------------------------------------
COLUMN TOTALS
- ------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F
Page 16 of 27 Name of Reporting Manager Citadel Limited Partnership
-- --
- ----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion Item 7:
-----------------------------------
Name of Issuer Title of CUSIP Fair Shares of (b) Shared Managers
Class Number Market Principal As Defined (c) Shared- See Instr. V
Value Amount (a) Sole in Instr. V Other
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
MORTON INTL INC IND CMN 619335102 77,781,375 2,116,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
MILLIPORE CORP CMN 601073109 219,538 9,100 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
MARSH & MCLENNAN COS CMN 571748102 5,546,475 74,700 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
MODEM MEDIA POPPE TYSON CMN 607533106 257,250 6,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
MOBIL CORP CMN 607059102 40,515,200 460,400 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
MOTOROLA CMN 620076109 7,874,375 107,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
MRV COMMUNICATIONS 5% 6/15 CB 553477AB6 1,033,931 2,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
MICROSOFT CMN 594918104 4,660,500 52,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
MICRON TECH 7% CB PFD 595112AB9 9,220,987 8,700 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
MICRON TECHNOLOGY INC CMN 595112103 2,231,081 46,300 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
MAIL-WELL, INC. 5% CB CB 560321AD3 4,395,874 4,578 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
NCS HEALTHCARE 5.75% REG CB 628874AC3 3,203,550 5,085 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
NEWCOURT CR GROUP INC CMN 650905102 270,625 10,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
NACCO INDS INC CMN 629579103 355,500 4,800 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 157,566,260
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
- ------------------------------------------------------------------
Item 8:
Item 1: Voting Authority (Shares)
-----------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
- ------------------------------------------------------------------
<S> <C> <C> <C>
MORTON INTL INC IND X
- ---------------------------------------------------------------------
MILLIPORE CORP X
- ---------------------------------------------------------------------
MARSH & MCLENNAN COS X
- ---------------------------------------------------------------------
MODEM MEDIA POPPE TYSON X
- ---------------------------------------------------------------------
MOBIL CORP X
- ---------------------------------------------------------------------
MOTOROLA X
- ---------------------------------------------------------------------
MRV COMMUNICATIONS 5% 6/15 n/a
- ---------------------------------------------------------------------
MICROSOFT X
- ---------------------------------------------------------------------
MICRON TECH 7% CB n/a
- ---------------------------------------------------------------------
MICRON TECHNOLOGY INC X
- ---------------------------------------------------------------------
MAIL-WELL, INC. 5% CB n/a
- ---------------------------------------------------------------------
NCS HEALTHCARE 5.75% REG n/a
- ---------------------------------------------------------------------
NEWCOURT CR GROUP INC X
- ---------------------------------------------------------------------
NACCO INDS INC X
- ------------------------------------------------------------------
COLUMN TOTALS
- ------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F
Page 17 of 27 Name of Reporting Manager Citadel Limited Partnership
-- --
- ----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion Item 7:
-----------------------------------
Name of Issuer Title of CUSIP Fair Shares of (b) Shared Managers
Class Number Market Principal As Defined (c) Shared- See Instr. V
Value Amount (a) Sole in Instr. V Other
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
NEWMONT MINING CORP CMN 651639106 1,496,250 85,500 X n/a
- --------------------------------------------------------------------------------------------------------------------------------
NETWORK ASSOC. 0% OID CB 640938AB2 43,456,882 119,470 X n/a
- --------------------------------------------------------------------------------------------------------------------------------
NOBLE DRILLING CMN 655042109 745,388 42,900 X n/a
- --------------------------------------------------------------------------------------------------------------------------------
NIKE INC CMN 654106103 4,015,050 69,600 X n/a
- --------------------------------------------------------------------------------------------------------------------------------
NORTHROP GRUMMAN CORP CMN 666807102 556,838 9,300 X n/a
- --------------------------------------------------------------------------------------------------------------------------------
NAC RE CMN 628907107 29,737,506 553,900 X n/a
- --------------------------------------------------------------------------------------------------------------------------------
NTL INCORPORATED 7% CB CB 629407AK3 415,692 275 X n/a
- --------------------------------------------------------------------------------------------------------------------------------
NTL INCORPORATED CMN 629407107 724,238 8,900 X n/a
- --------------------------------------------------------------------------------------------------------------------------------
INCO LTD. CMN 453258402 141,113 10,600 X n/a
- --------------------------------------------------------------------------------------------------------------------------------
NEWELL RUBBERMAID INC CMN 651229106 1,760,113 37,055 X n/a
- --------------------------------------------------------------------------------------------------------------------------------
NEXTEL COMMUNICATIONS INC CMN 65332V103 714,188 19,500 X n/a
- --------------------------------------------------------------------------------------------------------------------------------
ORBITAL 5% CB DUE 10/1/02 CB 685564AC0 3,493,506 2,945 X n/a
- --------------------------------------------------------------------------------------------------------------------------------
ORB 40.000 STRIKE PUT 09/ PUT 685564106 420,000 320 X n/a
- --------------------------------------------------------------------------------------------------------------------------------
ORACLE SYS CORP CMN 68389X105 2,609,806 98,950 X n/a
- --------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 90,286,568
- --------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
- ------------------------------------------------------------------
Item 8:
Item 1: Voting Authority (Shares)
-----------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
- ------------------------------------------------------------------
<S> <C> <C> <C>
NEWMONT MINING CORP X
- ------------------------------------------------------------------
NETWORK ASSOC. 0% OID n/a
- ------------------------------------------------------------------
NOBLE DRILLING X
- ------------------------------------------------------------------
NIKE INC X
- ------------------------------------------------------------------
NORTHROP GRUMMAN CORP X
- ------------------------------------------------------------------
NAC RE X
- ------------------------------------------------------------------
NTL INCORPORATED 7% CB n/a
- ------------------------------------------------------------------
NTL INCORPORATED X
- ------------------------------------------------------------------
INCO LTD. X
- ------------------------------------------------------------------
NEWELL RUBBERMAID INC X
- ------------------------------------------------------------------
NEXTEL COMMUNICATIONS INC X
- ------------------------------------------------------------------
ORBITAL 5% CB DUE 10/1/02 n/a
- ------------------------------------------------------------------
ORB 40.000 STRIKE PUT 09/ n/a
- ------------------------------------------------------------------
ORACLE SYS CORP X
- ------------------------------------------------------------------
COLUMN TOTALS
- ------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F
Page 18 of 27 Name of Reporting Manager Citadel Limited Partnership
-- --
- ----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion Item 7:
-----------------------------------
Name of Issuer Title of CUSIP Fair Shares of (b) Shared Managers
Class Number Market Principal As Defined (c) Shared- See Instr. V
Value Amount (a) Sole in Instr. V Other
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ON-LINE SOFTWARE INTL 6.25 CB 682180AA2 518,760 524 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
PAYCHEX INC CMN 704326107 3,534,094 74,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
PEPSI BOTTLING GROUP INC CMN 713409100 542,188 25,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
PECO ENERGY CO CMN 693304107 7,617,375 164,700 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
PROCTER & GAMBLE CO CMN 742718109 4,534,506 46,300 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
PREMIER PARKS 7.5% 4/1/200 PFD 740540307 341,875 5,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
PHOTRONICS, INC. 6% CB CB 719405AA0 989,469 1,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
PLATINUM TECH 6.75% CV CB 72764TAA9 5,335,607 2,858 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
PLATINUM TECH 6.25% CB 72764TAD3 3,947,347 4,150 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
PLATINUM TECHNOLOGY INC CMN 72764T101 9,641,550 378,100 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
PLD TELEKOM INC 9% CB CB 71623PAC6 954,891 1,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
PHARMACEUTICAL MARKETING CMN 717123103 11,069,214 737,300 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
PENTAIR INC CMN 709631105 384,750 11,400 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CATALINA MARKETING CORP CMN 148867104 687,000 8,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 50,098,626
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
- ------------------------------------------------------------------
Item 8:
Item 1: Voting Authority (Shares)
-----------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
- ------------------------------------------------------------------
<S> <C> <C> <C>
ON-LINE SOFTWARE INTL 6.25 n/a
- -----------------------------------------------------------
PAYCHEX INC X
- -----------------------------------------------------------
PEPSI BOTTLING GROUP INC X
- -----------------------------------------------------------
PECO ENERGY CO X
- -----------------------------------------------------------
PROCTER & GAMBLE CO X
- -----------------------------------------------------------
PREMIER PARKS 7.5% 4/1/200 n/a
- -----------------------------------------------------------
PHOTRONICS, INC. 6% CB n/a
- -----------------------------------------------------------
PLATINUM TECH 6.75% CV n/a
- -----------------------------------------------------------
PLATINUM TECH 6.25% n/a
- -----------------------------------------------------------
PLATINUM TECHNOLOGY INC X
- -----------------------------------------------------------
PLD TELEKOM INC 9% CB n/a
- -----------------------------------------------------------
PHARMACEUTICAL MARKETING X
- -----------------------------------------------------------
PENTAIR INC X
- -----------------------------------------------------------
CATALINA MARKETING CORP X
- -----------------------------------------------------------
COLUMN TOTALS
- -----------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F
Page 19 of 27 Name of Reporting Manager Citadel Limited Partnership
-- --
- ----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion Item 7:
-----------------------------------
Name of Issuer Title of CUSIP Fair Shares of (b) Shared Managers
Class Number Market Principal As Defined (c) Shared- See Instr. V
Value Amount (a) Sole in Instr. V Other
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
PC QUOTE INC CMN 693236200 275,000 25,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
PREMIERE TECH 5.75 CB 74058FAC6 6,784,295 10,042 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
PAINE WEBBER GROUP INC CMN 695629105 382,800 9,600 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
QUALCOMM 5.75% REG TRUST PFD 74752R402 52,978,718 584,349 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
GBLX 70 STRIKE PUT 10/16/ PUT BMG3921A1009 568,750 200 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
ENML 10.000 STRIKE PUT 08/ PUT 2924998HB 283,906 575 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
QUANTUM CMN 747906105 270,000 15,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
QTRN 40 STRIKE PUT 4/17/99 PUT 748767100 350,000 1,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
ROWAN COS INC CMN 779382100 289,275 22,800 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
READ-RITE CORP CMN 755246105 197,813 30,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
ROYAL DUTCH PETRO NY CMN 780257804 6,214,000 119,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
RUSSELL CORP CMN 782352108 1,781,063 88,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
ROBOTIC VISION SYSTEMS CMN 771074101 465,257 201,192 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
RES-CARE INC. 6% REG CB CB 760943AC4 27,260,483 21,270 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 98,101,359
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
- ------------------------------------------------------------------
Item 8:
Item 1: Voting Authority (Shares)
-----------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
- ------------------------------------------------------------------
<S> <C> <C> <C>
PC QUOTE INC X
- ------------------------------------------------------------------
PREMIERE TECH 5.75 n/a
- ------------------------------------------------------------------
PAINE WEBBER GROUP INC X
- ------------------------------------------------------------------
QUALCOMM 5.75% REG TRUST n/a
- ------------------------------------------------------------------
GBLX 70 STRIKE PUT 10/16/ n/a
- ------------------------------------------------------------------
ENML 10.000 STRIKE PUT 08/ n/a
- ------------------------------------------------------------------
QUANTUM X
- ------------------------------------------------------------------
QTRN 40 STRIKE PUT 4/17/99 n/a
- ------------------------------------------------------------------
ROWAN COS INC X
- ------------------------------------------------------------------
READ-RITE CORP X
- ------------------------------------------------------------------
ROYAL DUTCH PETRO NY X
- ------------------------------------------------------------------
RUSSELL CORP X
- ------------------------------------------------------------------
ROBOTIC VISION SYSTEMS X
- ------------------------------------------------------------------
RES-CARE INC. 6% REG CB n/a
- ------------------------------------------------------------------
COLUMN TOTALS
- ------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F
Page 20 of 27 Name of Reporting Manager Citadel Limited Partnership
-- --
- ----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion Item 7:
-----------------------------------
Name of Issuer Title of CUSIP Fair Shares of (b) Shared Managers
Class Number Market Principal As Defined (c) Shared- See Instr. V
Value Amount (a) Sole in Instr. V Other
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
SALOMON (CINC BELL) 6.25% PFD 79549B867 1,625,906 23,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
SBC COMMUNICATIONS CMN 78387G103 8,493,750 180,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
SYMBOL TECHNOLOGIES CMN 871508107 1,278,000 28,400 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
SYSTEM & COMPUTER TECH 5% CB 871873AB1 3,980,142 5,523 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
SECURE COMPUTING CORP CMN 813705100 136,500 13,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
SDL INC CMN 784076101 2,087,250 23,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
SOUTHDOWN CORP CMN 841297104 2,142,131 39,900 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
SEE 4% CONV PREF PFD 81211K209 17,962,834 362,300 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
SEPRACOR INC 7% CB CB 817315AF1 2,330,335 2,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
SAFEGUARD SCIENTIFICS INC CMN 786449108 533,250 7,900 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
SILICON GRAPHICS 5.25% CB 827056AC6 3,509,653 4,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
SCHERING PLOUGH CORP CMN 806605101 2,624,375 47,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
SUN HEALTHCARE GROUP 7% PFD 866749203 123,658 86,700 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
SOLECTRON CORP CMN 834182107 2,214,450 45,600 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 49,042,234
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
- ------------------------------------------------------------------
Item 8:
Item 1: Voting Authority (Shares)
-----------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
- ------------------------------------------------------------------
<S> <C> <C> <C>
SALOMON (CINC BELL) 6.25% n/a
- ------------------------------------------------------------------
SBC COMMUNICATIONS X
- ------------------------------------------------------------------
SYMBOL TECHNOLOGIES X
- ------------------------------------------------------------------
SYSTEM & COMPUTER TECH 5% n/a
- ------------------------------------------------------------------
SECURE COMPUTING CORP X
- ------------------------------------------------------------------
SDL INC X
- ------------------------------------------------------------------
SOUTHDOWN CORP X
- ------------------------------------------------------------------
SEE 4% CONV PREF n/a
- ------------------------------------------------------------------
SEPRACOR INC 7% CB n/a
- ------------------------------------------------------------------
SAFEGUARD SCIENTIFICS INC X
- ------------------------------------------------------------------
SILICON GRAPHICS 5.25% n/a
- ------------------------------------------------------------------
SCHERING PLOUGH CORP X
- ------------------------------------------------------------------
SUN HEALTHCARE GROUP 7% n/a
- ------------------------------------------------------------------
SOLECTRON CORP X
- ------------------------------------------------------------------
COLUMN TOTALS
- ------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F
Page 21 of 27 Name of Reporting Manager Citadel Limited Partnership
-- --
- ----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion Item 7:
-----------------------------------
Name of Issuer Title of CUSIP Fair Shares of (b) Shared Managers
Class Number Market Principal As Defined (c) Shared- See Instr. V
Value Amount (a) Sole in Instr. V Other
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
SHARED MED SYS CORP CMN 819486101 1,798,706 32,300 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
SUNRISE ASSISTED LIVING 5 CB 86768KAC0 14,519,492 10,934 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
SUNDSTRAND CORP CMN 867323107 70,243,650 1,010,700 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
SYNETIC, INC. 5% CB 2/15/00 CB 87160FAB5 5,677,788 5,575 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
SPORTSLINE USA INC 5% CB 848934AA3 1,831,219 2,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
SPRINT SPECTRUM $500MM SR CB 85207FAB4 1,810,000 2,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
SERVICE CORPORATION CMN 817565104 427,500 30,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
STORAGE TECHNOLOGY CMN 862111200 883,638 31,700 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
STMICROELECTRONICS 0% CB CB 861012AA0 26,365,440 26,520 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
SNYDER STRYPES 6.5% 11/15/ PFD 833502107 8,574,938 330,600 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
SUGEN INC CMN 865041107 1,221,668 63,670 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
SEARS ROEBUCK & CO CMN 812387108 3,117,938 69,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
STILLWATER MINING 7% REG CB 86074QAC6 17,434,664 11,784 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
SAFEWAY INC CMN 786514208 4,248,675 82,800 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 158,155,314
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
- -----------------------------------------------------------------
Item 8:
Item 1: Voting Authority (Shares)
----------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
- -----------------------------------------------------------------
<S> <C> <C> <C>
SHARED MED SYS CORP X
- -----------------------------------------------------------------
SUNRISE ASSISTED LIVING 5 n/a
- -----------------------------------------------------------------
SUNDSTRAND CORP X
- -----------------------------------------------------------------
SYNETIC, INC. 5% CB 2/15/00 n/a
- -----------------------------------------------------------------
SPORTSLINE USA INC 5% n/a
- -----------------------------------------------------------------
SPRINT SPECTRUM $500MM SR n/a
- -----------------------------------------------------------------
SERVICE CORPORATION X
- -----------------------------------------------------------------
STORAGE TECHNOLOGY X
- -----------------------------------------------------------------
STMICROELECTRONICS 0% CB n/a
- -----------------------------------------------------------------
SNYDER STRYPES 6.5% 11/15/ n/a
- -----------------------------------------------------------------
SUGEN INC X
- -----------------------------------------------------------------
SEARS ROEBUCK & CO X
- -----------------------------------------------------------------
STILLWATER MINING 7% REG n/a
- -----------------------------------------------------------------
SAFEWAY INC X
- -----------------------------------------------------------------
COLUMN TOTALS
- -----------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F
Page 22 of 27 Name of Reporting Manager Citadel Limited Partnership
-- --
- ------------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion Item 7:
-----------------------------------
Name of Issuer Title of CUSIP Fair Shares of (b) Shared Managers
Class Number Market Principal As Defined (c) Shared- See Instr. V
Value Amount (a) Sole in Instr. V Other
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
SZA 30.000 STRIKE PUT 09/1 PUT 865077101 315,000 1,200 X n/a
- ------------------------------------------------------------------------------------------------------------------------------------
SZA 35.000 STRIKE PUT 09/1 PUT 865077101 525,000 1,000 X n/a
- ------------------------------------------------------------------------------------------------------------------------------------
TELE-COMMUNICATIONS (TCI PFD 872294202 36,327,500 110,000 X n/a
- ------------------------------------------------------------------------------------------------------------------------------------
TEL-SAVE.COM CMN 874264104 910,238 96,937 X n/a
- ------------------------------------------------------------------------------------------------------------------------------------
TRANSAMERICA CORP CMN 893485102 60,300,300 849,300 X n/a
- ------------------------------------------------------------------------------------------------------------------------------------
THERMO CARDIOSYS 4.75% CB 88355KAA9 2,826,475 3,385 X n/a
- ------------------------------------------------------------------------------------------------------------------------------------
THERMO CARDIOSYSTEMS CMN 88355K200 271,200 33,900 X n/a
- ------------------------------------------------------------------------------------------------------------------------------------
TECNOMATIX TECH 5.25% REG CB 878732AD8 3,956,654 6,324 X n/a
- ------------------------------------------------------------------------------------------------------------------------------------
THERMO FIBERTEK 4.5% CB CB 88355WAA3 1,667,087 2,000 X n/a
- ------------------------------------------------------------------------------------------------------------------------------------
THERMO FIBERTEK 4.5% CB U8835NAA8 2,558,978 3,070 X n/a
- ------------------------------------------------------------------------------------------------------------------------------------
TELEFLEX INC CMN 879369106 255,469 7,500 X n/a
- ------------------------------------------------------------------------------------------------------------------------------------
THERMO INSTRUMENT SYSTS CB 883559106 891,250 775 X n/a
- ------------------------------------------------------------------------------------------------------------------------------------
TITANIUM METALS 6.625% PFD 887381408 1,658,000 82,900 X n/a
- ------------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 135,705,472
- ------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
- ------------------------------------------------------------------
Item 8:
Item 1: Voting Authority (Shares)
-----------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
- ------------------------------------------------------------------
<S> <C> <C> <C>
SUIZA FOODS 5.5% PFD n/a
- ------------------------------------------------------------------
SZA 30.000 STRIKE PUT 09/1 n/a
- ------------------------------------------------------------------
SZA 35.000 STRIKE PUT 09/1 n/a
- ------------------------------------------------------------------
TELE-COMMUNICATIONS (TCI n/a
- ------------------------------------------------------------------
TEL-SAVE.COM X
- ------------------------------------------------------------------
TRANSAMERICA CORP X
- ------------------------------------------------------------------
THERMO CARDIOSYS 4.75% n/a
- ------------------------------------------------------------------
THERMO CARDIOSYSTEMS X
- ------------------------------------------------------------------
TECNOMATIX TECH 5.25% REG n/a
- ------------------------------------------------------------------
THERMO FIBERTEK 4.5% CB n/a
- ------------------------------------------------------------------
THERMO FIBERTEK 4.5% n/a
- ------------------------------------------------------------------
TELEFLEX INC X
- ------------------------------------------------------------------
THERMO INSTRUMENT SYSTS n/a
- ------------------------------------------------------------------
TITANIUM METALS 6.625% n/a
- ------------------------------------------------------------------
COLUMN TOTALS
- ------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F
Page 23 of 27 Name of Reporting Manager Citadel Limited Partnership
-- --
- ----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion Item 7:
-----------------------------------
Name of Issuer Title of CUSIP Fair Shares of (b) Shared Managers
Class Number Market Principal (a) Sole As Defined (c) Shared- See Instr. V
Value Amount in Instr. V Other
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
LEARNING COMPANY INC CMN 522008101 43,137,500 1,487,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
THERMEDICS INC 2.875% CB 88390100 2,102,400 2,628 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
TRUE NORTH COMMUNICS CMN 897844106 700,000 25,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
TRIBUNE 6.25% EXCHG. NOTES CB 896047206 7,479,313 278,300 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
TRIBUNE CO NEW CMN 896047107 4,456,294 68,100 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
RENAL TREATMENT CTRS CB 759671AC4 3,479,460 4,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
TRY 0% DEB DUE 2/9/18 CB 895927AB7 5,489,818 24,250 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
TEXAS INDUSTRIES INC CMN 882491103 282,863 11,400 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
TEXAS INSTRUMENTS CMN 882508104 704,675 7,100 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
TYCO INTERNATIONAL LTD CMN 902124106 3,182,758 44,359 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
UNION CAMP CORP CMN 905530101 40,585,050 604,619 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
UNISYS CMN 909214108 4,463,225 161,200 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
UNION CARBIDE CMN 905581104 5,363,756 118,700 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
MEDIAONE GROUP 6.25% PFD 58440J401 76,424,000 932,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 197,851,112
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
- ------------------------------------------------------------------
Item 8:
Item 1: Voting Authority (Shares)
-----------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
- ------------------------------------------------------------------
<S> <C> <C> <C>
LEARNING COMPANY INC X
- ------------------------------------------------------------------
THERMEDICS INC 2.875% n/a
- ------------------------------------------------------------------
TRUE NORTH COMMUNICS X
- ------------------------------------------------------------------
TRIBUNE 6.25% EXCHG. NOTES n/a
- ------------------------------------------------------------------
TRIBUNE CO NEW X
- ------------------------------------------------------------------
RENAL TREATMENT CTRS n/a
- ------------------------------------------------------------------
TRY 0% DEB DUE 2/9/18 n/a
- ------------------------------------------------------------------
TEXAS INDUSTRIES INC X
- ------------------------------------------------------------------
TEXAS INSTRUMENTS X
- ------------------------------------------------------------------
TYCO INTERNATIONAL LTD X
- ------------------------------------------------------------------
UNION CAMP CORP X
- ------------------------------------------------------------------
UNISYS X
- ------------------------------------------------------------------
UNION CARBIDE X
- ------------------------------------------------------------------
MEDIAONE GROUP 6.25% n/a
- ------------------------------------------------------------------
COLUMN TOTALS
- ------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F
Page 24 of 27 Name of Reporting Manager Citadel Limited Partnership
-- --
- ----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion Item 7:
-----------------------------------
Name of Issuer Title of CUSIP Fair Shares of (b) Shared Managers
Class Number Market Principal (a) Sole As Defined (c) Shared- See Instr. V
Value Amount in Instr. V Other
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
MEDIAONE GROUP INC. CMN 58440J104 15,098,125 238,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
UNION PAC CORP CMN 907818108 6,107,906 114,300 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
UNILEVER N V CMN 904784709 3,707,213 55,800 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
UNITED RENTALS TRUST I 6.5 PFD 91136H207 2,240,633 50,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
UNITED RENTALS TRUST I 6.5 PFD 91136H306 18,395,600 410,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
URI 30.000 STRIKE PUT 09/1 PUT 911363109 218,750 500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
URI 35.000 STRIKE PUT 09/1 PUT 911363109 203,125 250 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
US SATELLITE BROADCAST CO CMN 912534104 11,485,738 670,700 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
VARIAN MEDICAL SYSTEMS INC CMN 92220P105 775,000 20,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
VANGUARD CELLULAR SYS -CL CMN 922022108 26,807,219 981,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
VLSI TECHNOLOGY 8.250% CB CB 918270AB5 4,286,460 4,308 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
VLSI TECHNOLOGY CMN 918270109 11,938,875 616,200 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
VANTIVE CORP. 4.75% REG CB CB 922091AC7 3,863,921 5,342 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
WORLD ACCESS 4.5% REG CB CB 98141AAC5 797,301 1,460 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 105,925,866
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
- ------------------------------------------------------------------
Item 8:
Item 1: Voting Authority (Shares)
-----------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
- ------------------------------------------------------------------
<S> <C> <C> <C>
MEDIAONE GROUP INC. X
- ------------------------------------------------------------------
UNION PAC CORP X
- ------------------------------------------------------------------
UNILEVER N V X
- ------------------------------------------------------------------
UNITED RENTALS TRUST I 6.5 n/a
- ------------------------------------------------------------------
UNITED RENTALS TRUST I 6.5 n/a
- ------------------------------------------------------------------
URI 30.000 STRIKE PUT 09/1 n/a
- ------------------------------------------------------------------
URI 35.000 STRIKE PUT 09/1 n/a
- ------------------------------------------------------------------
US SATELLITE BROADCAST CO X
- ------------------------------------------------------------------
VARIAN MEDICAL SYSTEMS INC X
- ------------------------------------------------------------------
VANGUARD CELLULAR SYS -CL X
- ------------------------------------------------------------------
VLSI TECHNOLOGY 8.250% CB n/a
- ------------------------------------------------------------------
VLSI TECHNOLOGY X
- ------------------------------------------------------------------
VANTIVE CORP. 4.75% REG CB n/a
- ------------------------------------------------------------------
WORLD ACCESS 4.5% REG CB n/a
- ------------------------------------------------------------------
COLUMN TOTALS
- ------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F
Page 25 of 27 Name of Reporting Manager Citadel Limited Partnership
-- --
- ----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion Item 7:
-----------------------------------
Name of Issuer Title of CUSIP Fair Shares of (b) Shared Managers
Class Number Market Principal (a) Sole As Defined (c) Shared- See Instr. V
Value Amount in Instr. V Other
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
MCI WORLDCOM INC CMN 55268B106 442,813 5,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
WESTERN DIGITAL 0% OID DUE CB 958102AH8 5,942,925 27,450 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
WELLS FARGO CO CMN 949746101 6,311,250 180,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
WIND RIVER 5% REG CB DUE CB 973149AC1 7,245,094 8,175 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
WILLAMETTE INDS INC CMN 969133107 230,275 6,100 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
USA WASTE SERVICES 4.5% CB 913174AD0 2,220,000 1,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
WASTE MANAGEMENT INC. 4% CB 94106LAA7 13,649,216 11,793 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
WAL MART STORES INC CMN 931142103 8,702,500 94,400 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
WILLIAMS-SONOMA INC CMN 969904101 822,075 29,100 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
WEYERHAEUSER CO CMN 962166104 4,068,150 73,300 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
USX CORP 6.75% CV PFD PFD 902905793 1,097,444 103,900 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
XCIT 110 STRIKE PUT 5/22/99 PUT 300904109 837,500 1,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
EXCITE INC CMN 300904109 69,174,000 494,100 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CTXS 35.00 STRIKE PUT 09/1 PUT 177376100 487,500 1,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 121,230,741
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
- ------------------------------------------------------------------
Item 8:
Item 1: Voting Authority (Shares)
-----------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
- ------------------------------------------------------------------
<S> <C> <C> <C>
MCI WORLDCOM INC X
- ------------------------------------------------------------------
WESTERN DIGITAL 0% OID DUE n/a
- ------------------------------------------------------------------
WELLS FARGO CO X
- ------------------------------------------------------------------
WIND RIVER 5% REG CB DUE n/a
- ------------------------------------------------------------------
WILLAMETTE INDS INC X
- ------------------------------------------------------------------
USA WASTE SERVICES 4.5% n/a
- ------------------------------------------------------------------
WASTE MANAGEMENT INC. 4% n/a
- ------------------------------------------------------------------
WAL MART STORES INC X
- ------------------------------------------------------------------
WILLIAMS-SONOMA INC X
- ------------------------------------------------------------------
WEYERHAEUSER CO X
- ------------------------------------------------------------------
USX CORP 6.75% CV PFD n/a
- ------------------------------------------------------------------
XCIT 110 STRIKE PUT 5/22/99 n/a
- ------------------------------------------------------------------
EXCITE INC X
- ------------------------------------------------------------------
CTXS 35.00 STRIKE PUT 09/1 n/a
- ------------------------------------------------------------------
COLUMN TOTALS
- ------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F
Page 26 of 27 Name of Reporting Manager Citadel Limited Partnership
-- --
- ----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion Item 7:
-----------------------------------
Name of Issuer Title of CUSIP Fair Shares of (b) Shared Managers
Class Number Market Principal (a) Sole As Defined (c) Shared- See Instr. V
Value Amount in Instr. V Other
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
XYLAN CORP CMN 984151100 26,795,819 727,900 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
AAPL 30.000 STRIKE PUT 01/ PUT 037833100 1,343,750 2,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
AAPL 35.000 STRIKE PUT 01/ PUT 037833100 793,750 1,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
AMZN 100 STRIKE PUT 01/20/ PUT 023135106 331,875 150 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CNTO 35.000 STRIKE PUT 01/ PUT 152342101 806,250 1,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
MU 40.000 STRIKE PUT 01/20 PUT 595112103 275,625 300 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
MU 50.000 STRIKE PUT 01/20 PUT 595112103 1,481,250 1,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
MU 60.000 STRIKE PUT 01/20 PUT 595112103 2,118,750 1,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
ZILA INCORPORATED CMN 989513205 1,543,578 408,219 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
MSFT 57.50 STRIKE PUT 01/2 PUT 594918104 300,000 1,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
MSFT 62.50 STRIKE PUT 01/2 PUT 594918104 1,295,000 2,800 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
NETA 30.000 STRIKE PUT 01/ PUT 640938106 684,375 750 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
NETA 40.000 STRIKE PUT 01/ PUT 640938106 3,906,250 2,500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
NETA 45.000 STRIKE PUT 01/ PUT 640938106 962,500 500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 42,638,772
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
- ------------------------------------------------------------------
Item 8:
Item 1: Voting Authority (Shares)
-----------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
- ------------------------------------------------------------------
<S> <C> <C> <C>
XYLAN CORP X
- ------------------------------------------------------------------
AAPL 30.000 STRIKE PUT 01/ n/a
- ------------------------------------------------------------------
AAPL 35.000 STRIKE PUT 01/ n/a
- ------------------------------------------------------------------
AMZN 100 STRIKE PUT 01/20/ n/a
- ------------------------------------------------------------------
CNTO 35.000 STRIKE PUT 01/ n/a
- ------------------------------------------------------------------
MU 40.000 STRIKE PUT 01/20 n/a
- ------------------------------------------------------------------
MU 50.000 STRIKE PUT 01/20 n/a
- ------------------------------------------------------------------
MU 60.000 STRIKE PUT 01/20 n/a
- ------------------------------------------------------------------
ZILA INCORPORATED X
- ------------------------------------------------------------------
MSFT 57.50 STRIKE PUT 01/2 n/a
- ------------------------------------------------------------------
MSFT 62.50 STRIKE PUT 01/2 n/a
- ------------------------------------------------------------------
NETA 30.000 STRIKE PUT 01/ n/a
- ------------------------------------------------------------------
NETA 40.000 STRIKE PUT 01/ n/a
- ------------------------------------------------------------------
NETA 45.000 STRIKE PUT 01/ n/a
- ------------------------------------------------------------------
COLUMN TOTALS
- ------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F
Page 27 of 27 Name of Reporting Manager Citadel Limited Partnership
-- --
- ----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion Item 7:
----------------------------------
Name of Issuer Title of CUSIP Fair Shares of (b) Shared Managers
Class Number Market Principal (a) Sole As Defined (c) Shared- See Instr. V
Value Amount in Instr. V Other
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
LSI 20.000 STRIKE PUT 01/2 -PUT 502161102 295,625 1,100 n/a
- ----------------------------------------------------------------------------------------------------------------------------------
CRUS 10.000 STRIKE PUT 01/ - PUT 172755100 570,313 1,250 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
AMD 15.000 STRIKE PUT 01/2 - PUT 007903107 212,500 500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
AMD 20.000 STRIKE PUT 01/2 - PUT 007903107 762,500 1,000 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
AMD 25.000 STRIKE PUT 01/2 - PUT 007903107 575,000 500 X n/a
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 2,415,938
- ----------------------------------------------------------------------------------------------------------------------------------
LONG MARKET VALUE 3,244,400,505
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
- -----------------------------------------------------------------------
Item 8:
Item 1: Voting Authority (Shares)
-----------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
- -----------------------------------------------------------------------
<S> <C> <C> <C>
LSI 20.000 STRIKE PUT 01/2 -PUT n/a
- -----------------------------------------------------------------------
CRUS 10.000 STRIKE PUT 01/ - PUT n/a
- -----------------------------------------------------------------------
AMD 15.000 STRIKE PUT 01/2 - PUT n/a
- -----------------------------------------------------------------------
AMD 20.000 STRIKE PUT 01/2 - PUT n/a
- -----------------------------------------------------------------------
AMD 25.000 STRIKE PUT 01/2 - PUT n/a
- -----------------------------------------------------------------------
- -----------------------------------------------------------------------
- -----------------------------------------------------------------------
- -----------------------------------------------------------------------
- -----------------------------------------------------------------------
- -----------------------------------------------------------------------
- -----------------------------------------------------------------------
- -----------------------------------------------------------------------
- -----------------------------------------------------------------------
COLUMN TOTALS
- -----------------------------------------------------------------------
LONG MARKET VALUE
- -----------------------------------------------------------------------
</TABLE>
