<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: DECEMBER 31, 1999
Check here if Amendment [_]; Amendment Number: ___________
This Amendment (Check only one.): [_] is a restatement.
[_] adds new holdings entries.
Institutional Investment Manager Filing this
Report:
Name: 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 3/31/00
----------------------- ----------------- -------
[Signature] [City, State] [Date]
Report Type (Check only one.):
[X ] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting
manager are reported in this report.)
[_] 13F NOTICE. (Check here if no holdings reported are in this report, and
all holdings are reported by other reporting manager(s).)
[_] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this
reporting manager are reported in this report and a portion are reported by
other reporting manager(s).)
<PAGE>
FORM 13F SUMMARY PAGE
Report Summary:
CONFIDENTIAL TREATMENT REQUESTED
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 557
Form 13F Information Table Value Total: $5,829,773 (thousands)
List of Other Included Managers:
NONE
<PAGE>
Page 1 of 40
<TABLE>
<CAPTION>
(SEC USE ONLY)
FORM 13F
Name of Reporting Manager Citadel Limited Partnership
---------------------------------------------------------------------------------------------------
Item 1: Item 2: Item 3: Item 4: Item 5:
Name of Issuer Title of Class CUSIP Fair Market Shares of
Number Value Principal
Amount
---------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
AAPL 15.000 STRIKE CALL 01 Opt (C) 037833100 4,387,500 500
---------------------------------------------------------------------------------------------------
AAPL 75.000 STRIKE PUT 01/ Opt (P) 037833100 285,000 300
---------------------------------------------------------------------------------------------------
AAPL 80.000 STRIKE PUT 01/ Opt (P) 037833100 1,137,500 1,000
---------------------------------------------------------------------------------------------------
AAPL 85.000 STRIKE PUT 01/ Opt (P) 037833100 675,000 500
---------------------------------------------------------------------------------------------------
ABBOTT LABS Cmn 2824100 5,646,594 155,500
---------------------------------------------------------------------------------------------------
ABT 35.000 STRIKE PUT 01/2 Opt (P) 2824100 262,500 3,000
---------------------------------------------------------------------------------------------------
ABT 37.500 STRIKE PUT 01/2 Opt (P) 2824100 212,500 1,000
---------------------------------------------------------------------------------------------------
ACTION PERFORMANCE 4.75% CB 004933AB3 2,903,233 5,512
---------------------------------------------------------------------------------------------------
ACTIVISON 6.75% CB DUE CB 004930AC7 1,833,988 1,900
---------------------------------------------------------------------------------------------------
ACXIOM (OLD MAY & SPEH) CB 577777AA3 2,555,373 1,980
---------------------------------------------------------------------------------------------------
ADOBE SYSTEMS Cmn 00724F101 2,979,175 44,300
---------------------------------------------------------------------------------------------------
ADVANCED ENERGY 5.25% CB CB 007973AA8 6,944,771 5,925
---------------------------------------------------------------------------------------------------
ADVANCED MICRO DEVICES 6% CB 007903AC1 29,293,895 30,344
---------------------------------------------------------------------------------------------------
ADVANTA CORP - CLASS B Cmn 7942204 1,170,000 83,200
---------------------------------------------------------------------------------------------------
COLUMN TOTALS 60,287,029
---------------------------------------------------------------------------------------------------
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Item 6: Item 8
Investment Discretion Item 7: Voting Authority (Shares)
------------------------------------------ -------------------------------
(b) Shared Managers
(a) Sole As Defined (c) Shared- See Instr. V (a) Sole (b) Shared (c) None
in Instr. V Other
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
AAPL 15.000 STRIKE CALL 01 X n/a n/a
------------------------------------------------------------------------------------------------------------------------------------
AAPL 75.000 STRIKE PUT 01/ X n/a n/a
------------------------------------------------------------------------------------------------------------------------------------
AAPL 80.000 STRIKE PUT 01/ X n/a n/a
------------------------------------------------------------------------------------------------------------------------------------
AAPL 85.000 STRIKE PUT 01/ X n/a n/a
------------------------------------------------------------------------------------------------------------------------------------
ABBOTT LABS X n/a X
------------------------------------------------------------------------------------------------------------------------------------
ABT 35.000 STRIKE PUT 01/2 X n/a n/a
------------------------------------------------------------------------------------------------------------------------------------
ABT 37.500 STRIKE PUT 01/2 X n/a n/a
------------------------------------------------------------------------------------------------------------------------------------
ACTION PERFORMANCE 4.75% X n/a n/a
------------------------------------------------------------------------------------------------------------------------------------
ACTIVISON 6.75% CB DUE X n/a n/a
------------------------------------------------------------------------------------------------------------------------------------
ACXIOM (OLD MAY & SPEH) X n/a n/a
------------------------------------------------------------------------------------------------------------------------------------
ADOBE SYSTEMS X n/a X
------------------------------------------------------------------------------------------------------------------------------------
ADVANCED ENERGY 5.25% CB X n/a n/a
------------------------------------------------------------------------------------------------------------------------------------
ADVANCED MICRO DEVICES 6% X n/a n/a
------------------------------------------------------------------------------------------------------------------------------------
ADVANTA CORP - CLASS B X n/a X
------------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
Page 2 of 40
<TABLE>
<CAPTION>
FORM 13F
Name of Reporting Manager Citael Limited Partnership
---------------------------------------------------------------------------------------------------
Item 1: Item 2: Item 3: Item 4: Item 5:
Name of Issuer Title of Class CUSIP Fair Market Shares of
Number Value Principal
Amount
---------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
AES CORP 4.5% CB DUE 8/15 CB 00130HAN5 2,939,536 2,000
---------------------------------------------------------------------------------------------------
AES CORP. 5.5% CV PFD Pfd 1034305 9,333,407 136,000
---------------------------------------------------------------------------------------------------
AES CORP. 6.75% MIPS D Pfd 00808N202 5,206,280 85,100
---------------------------------------------------------------------------------------------------
AFLAC INC Cmn 1055102 1,184,406 25,100
---------------------------------------------------------------------------------------------------
AGENCY.COM LTD Cmn 8447104 219,300 4,300
---------------------------------------------------------------------------------------------------
AIRBORNE FREIGHT Cmn 9266107 829,400 37,700
---------------------------------------------------------------------------------------------------
AIRONET WIRELESS COMMS Cmn 00943A107 16,695,313 250,000
---------------------------------------------------------------------------------------------------
ALCOA INC Cmn 13817101 2,025,200 24,400
---------------------------------------------------------------------------------------------------
ALGOMA STL LTD Cmn 1566M105 220,950 147,300
---------------------------------------------------------------------------------------------------
ALLEGHENY TECHNOLOGIES INC Cmn 01741R102 767,363 34,200
---------------------------------------------------------------------------------------------------
ALLIANT ENERGY CORP Cmn 18802108 552,750 20,100
---------------------------------------------------------------------------------------------------
ALLTEL CORP Cmn 20039103 10,104,413 122,200
---------------------------------------------------------------------------------------------------
ALTERA CORP Cmn 21441100 206,874 4,174
---------------------------------------------------------------------------------------------------
ALZA CORP Cmn 22615108 10,633,338 307,100
---------------------------------------------------------------------------------------------------
COLUMN TOTALS 60,918,529
---------------------------------------------------------------------------------------------------
<CAPTION> (SEC USE ONLY)
------------------------------------------------------------------------------------------------------------------------------------
Item 6: Item 8
Investment Discretion Item 7: Voting Authority (Shares)
------------------------------------------ -------------------------------
(b) Shared Managers
(a) Sole As Defined (c) Shared- See Instr. V (a) Sole (b) Shared (c) None
in Instr. V Other
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
AES CORP 4.5% CB DUE 8/15 X n/a n/a
-----------------------------------------------------------------------------------------------------------------------------------
AES CORP. 5.5% CV PFD X n/a n/a
-----------------------------------------------------------------------------------------------------------------------------------
AES CORP. 6.75% MIPS D X n/a n/a
-----------------------------------------------------------------------------------------------------------------------------------
AFLAC INC X n/a n/a
-----------------------------------------------------------------------------------------------------------------------------------
AGENCY.COM LTD X n/a X
-----------------------------------------------------------------------------------------------------------------------------------
AIRBORNE FREIGHT X n/a n/a
-----------------------------------------------------------------------------------------------------------------------------------
AIRONET WIRELESS COMMS X n/a n/a
-----------------------------------------------------------------------------------------------------------------------------------
ALCOA INC X n/a n/a
-----------------------------------------------------------------------------------------------------------------------------------
ALGOMA STL LTD X n/a n/a
-----------------------------------------------------------------------------------------------------------------------------------
ALLEGHENY TECHNOLOGIES INC X n/a n/a
-----------------------------------------------------------------------------------------------------------------------------------
ALLIANT ENERGY CORP X n/a X
-----------------------------------------------------------------------------------------------------------------------------------
ALLTEL CORP X n/a n/a
-----------------------------------------------------------------------------------------------------------------------------------
ALTERA CORP X n/a n/a
-----------------------------------------------------------------------------------------------------------------------------------
ALZA CORP X n/a X
-----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Page 3 of 40 FORM 13F
- -- Name of Reporting Manager Citadel Limited Partnership
---------------------------------------------------------------------------------------------------------------
Item 1: Item 2: Item 3: Item 4: Item 5:
Name of Issuer Title of Class CUSIP Fair Market Shares of
Number Value Principal
Amount
---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
AMAZON.COM INC 4.75% CB 2 CB 023135AD8 1,079,400 950
---------------------------------------------------------------------------------------------------------------
AMAZON.COM INC 4.75% CB 2 CB 023135AF3 13,123,249 11,550
---------------------------------------------------------------------------------------------------------------
AMBAC FINANCIAL GROUP Cmn 23139108 673,219 12,900
---------------------------------------------------------------------------------------------------------------
AMBASSADORS INTL INC Cmn 23178106 509,688 46,600
---------------------------------------------------------------------------------------------------------------
AMD 15.000 STRIKE PUT 01/2 Opt (P) 007903107 328,125 2,500
---------------------------------------------------------------------------------------------------------------
AMD 20.000 STRIKE PUT 01/2 Opt (P) 007903107 256,250 1,000
---------------------------------------------------------------------------------------------------------------
AMD 25.000 STRIKE PUT 01/2 Opt (P) 007903107 234,375 500
---------------------------------------------------------------------------------------------------------------
AMDOCS TRACES 6.75% Pfd 02342R202 9,670,656 307,200
---------------------------------------------------------------------------------------------------------------
AMER SKIING CO Cmn 29654308 307,594 96,500
---------------------------------------------------------------------------------------------------------------
AMERADA HESS CORP Cmn 23551104 4,602,425 81,100
---------------------------------------------------------------------------------------------------------------
AMERICAN TOWER 2.25% CB 029912AD4 44,227,011 45,500
---------------------------------------------------------------------------------------------------------------
AMERICAN WATER WORKS Cmn 30411102 677,875 31,900
---------------------------------------------------------------------------------------------------------------
AMERISERVE FIN 12% CB 03073MAA5 3,360,000 4,000
---------------------------------------------------------------------------------------------------------------
AMERISERVE FOOD 10.125% CB 03072JAD7 540,000 1,500
---------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 79,589,865
---------------------------------------------------------------------------------------------------------------
<CAPTION>
------------------------------------------
(SEC USE ONLY)
--------------------------------------------------------------------------------------------------------------------------------
Item 6: Item 8:
Investment Discretion Item 7: Voting Authority (Shares)
------------------------------------------- -----------------------------------
(b) Shared Managers
(a) Sole As Defined (c) Shared- See Instr. V (a) Sole (b) Shared (c) None
in Instr. V Other
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
AMAZON.COM INC 4.75% CB 2 X n/a n/a
--------------------------------------------------------------------------------------------------------------------------------
AMAZON.COM INC 4.75% CB 2 X n/a n/a
--------------------------------------------------------------------------------------------------------------------------------
AMBAC FINANCIAL GROUP X n/a X
--------------------------------------------------------------------------------------------------------------------------------
AMBASSADORS INTL INC X n/a X
--------------------------------------------------------------------------------------------------------------------------------
AMD 15.000 STRIKE PUT 01/2 X n/a n/a
--------------------------------------------------------------------------------------------------------------------------------
AMD 20.000 STRIKE PUT 01/2 X n/a n/a
--------------------------------------------------------------------------------------------------------------------------------
AMD 25.000 STRIKE PUT 01/2 X n/a n/a
--------------------------------------------------------------------------------------------------------------------------------
AMDOCS TRACES 6.75% X n/a n/a
--------------------------------------------------------------------------------------------------------------------------------
AMER SKIING CO X n/a X
--------------------------------------------------------------------------------------------------------------------------------
AMERADA HESS CORP X n/a X
--------------------------------------------------------------------------------------------------------------------------------
AMERICAN TOWER 2.25% X n/a n/a
--------------------------------------------------------------------------------------------------------------------------------
AMERICAN WATER WORKS X n/a X
--------------------------------------------------------------------------------------------------------------------------------
AMERISERVE FIN 12% X n/a n/a
--------------------------------------------------------------------------------------------------------------------------------
AMERISERVE FOOD 10.125% X n/a n/a
--------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTAL
--------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Page 4 of 40 FORM 13F
- -- Name of Reporting Manager Citadel Limited Partnership
-----------------------------------------------------------------------------------------------------------------
Item 1: Item 2: Item 3: Item 4: Item 5:
Name of Issuer Title of Class CUSIP Fair Market Shares of
Number Value Principal
Amount
-----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
AMERITRADE 5.75% 144A CB CB 03072HAA7 45,033,891 53,370
-----------------------------------------------------------------------------------------------------------------
AMERITRADE 5.75% CB CB 03072HAB5 1,988,481 2,350
-----------------------------------------------------------------------------------------------------------------
AMF BOWLING INC. 10.875% CB 030985AE5 350,000 1,000
-----------------------------------------------------------------------------------------------------------------
AMFM INC Cmn 1693100 89,697,975 1,146,300
-----------------------------------------------------------------------------------------------------------------
AMKOR TECHNOLOGY, INC. Cmn 31652100 367,250 13,000
-----------------------------------------------------------------------------------------------------------------
AMPHENOL CORP Cmn 32095101 279,563 4,200
-----------------------------------------------------------------------------------------------------------------
AMTD 10.000 STRIKE PUT 01/ Opt (P) 03072H109 262,500 1,000
-----------------------------------------------------------------------------------------------------------------
AMTD 16.625 STRIKE PUT 01/ Opt (P) 03072H109 1,432,125 3,420
-----------------------------------------------------------------------------------------------------------------
AMZN 50.00 STRIKE PUT 01/2 Opt (P) 023135106 255,000 300
-----------------------------------------------------------------------------------------------------------------
AMZN 67.500 STRIKE PUT 04/ Opt (P) 023135106 293,750 250
-----------------------------------------------------------------------------------------------------------------
AMZN 75.000 STRIKE PUT 01/ Opt (P) 023135106 1,068,750 500
-----------------------------------------------------------------------------------------------------------------
AMZN 75.000 STRIKE PUT 4/2 Opt (P) 023135106 768,750 500
-----------------------------------------------------------------------------------------------------------------
AMZN 85.00 STRIKE PUT 01/2 Opt (P) 023135106 3,862,500 3,000
-----------------------------------------------------------------------------------------------------------------
ANTEC CORP 4.5% CB DUE 2000 CB 03664PAB1 21,373,906 13,250
-----------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 167,034,441
-----------------------------------------------------------------------------------------------------------------
<CAPTION>
------------------------------------------
(SEC USE ONLY)
--------------------------------------------------------------------------------------------------------------------------------
Item 6: Item 8:
Investment Discretion Item 7: Voting Authority (Shares)
------------------------------------------- -----------------------------------
(b) Shared Managers
(a) Sole As Defined (c) Shared- See Instr. V (a) Sole (b) Shared (c) None
in Instr. V Other
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
AMERITRADE 5.75% 144A CB X n/a n/a
--------------------------------------------------------------------------------------------------------------------------------
AMERITRADE 5.75% CB X n/a n/a
--------------------------------------------------------------------------------------------------------------------------------
AMF BOWLING INC. 10.875% X n/a n/a
--------------------------------------------------------------------------------------------------------------------------------
AMFM INC X n/a X
--------------------------------------------------------------------------------------------------------------------------------
AMKOR TECHNOLOGY, INC. X n/a X
--------------------------------------------------------------------------------------------------------------------------------
AMPHENOL CORP X n/a X
--------------------------------------------------------------------------------------------------------------------------------
AMTD 10.000 STRIKE PUT 01/ X n/a n/a
--------------------------------------------------------------------------------------------------------------------------------
AMTD 16.625 STRIKE PUT 01/ X n/a n/a
--------------------------------------------------------------------------------------------------------------------------------
AMZN 50.00 STRIKE PUT 01/2 X n/a n/a
--------------------------------------------------------------------------------------------------------------------------------
AMZN 67.500 STRIKE PUT 04/ X n/a n/a
--------------------------------------------------------------------------------------------------------------------------------
AMZN 75.000 STRIKE PUT 01/ X n/a n/a
--------------------------------------------------------------------------------------------------------------------------------
AMZN 75.000 STRIKE PUT 4/2 X n/a n/a
--------------------------------------------------------------------------------------------------------------------------------
AMZN 85.00 STRIKE PUT 01/2 X n/a n/a
--------------------------------------------------------------------------------------------------------------------------------
ANTEC CORP 4.5% CB DUE 2000 X n/a n/a
--------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS
--------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Page 5 of 40 FORM 13F
- -- Name of Reporting Manager Citadel Limited Partnership
-----------------------------------------------------------------------------------------------------------------
Item 1: Item 2: Item 3: Item 4: Item 5:
Name of Issuer Title of Class CUSIP Fair Market Shares of
Number Value Principal
Amount
-----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
AOL 0% CONV BOND DUE 12/00 CB 02364JAC8 177,626,977 312,750
-----------------------------------------------------------------------------------------------------------------
AOL 3.125 STRIKE PUT 01/22 Opt (P) 02364J104 - 10,400
-----------------------------------------------------------------------------------------------------------------
AOL 4% CB DUE 11/15/02 CB 02364JAB0 451,469,628 38,819
-----------------------------------------------------------------------------------------------------------------
AOL 52.500 STRIKE PUT 01/2 Opt (P) 02364J104 2,025,000 3,000
-----------------------------------------------------------------------------------------------------------------
AOL 55.000 STRIKE PUT 01/2 Opt (P) 02364J104 781,250 1,000
-----------------------------------------------------------------------------------------------------------------
AOL 57.5000 STRIKE PUT 01/ Opt (P) 02364J104 1,737,500 2,000
-----------------------------------------------------------------------------------------------------------------
AOL 70.00 STRIKE PUT 01/20 Opt (P) 02364J104 4,331,250 3,000
-----------------------------------------------------------------------------------------------------------------
AOL 75.000 STRIKE PUT 01/2 Opt (P) 02364J104 347,500 200
-----------------------------------------------------------------------------------------------------------------
AON CORPORATION Cmn 37389103 644,000 16,100
-----------------------------------------------------------------------------------------------------------------
APPLE COMPUTER INC Cmn 37833100 2,844,411 27,666
-----------------------------------------------------------------------------------------------------------------
ARV ASSISTED LIVING 6.75% CB 00204CAA5 1,008,525 3,955
-----------------------------------------------------------------------------------------------------------------
ASHWORTH INC Cmn 04516H101 451,275 109,400
-----------------------------------------------------------------------------------------------------------------
ASPEC TECHNOLOGY INC Cmn 45233103 427,656 85,000
-----------------------------------------------------------------------------------------------------------------
ASPECT TELECOM INC 0% CB CB 045237AB0 365,193 900
-----------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 644,060,165
-----------------------------------------------------------------------------------------------------------------
<CAPTION>
------------------------------------------
(SEC USE ONLY)
--------------------------------------------------------------------------------------------------------------------------------
Item 6: Item 8:
Investment Discretion Item 7: Voting Authority (Shares)
------------------------------------------- -----------------------------------
(b) Shared Managers
(a) Sole As Defined (c) Shared- See Instr. V (a) Sole (b) Shared (c) None
in Instr. V Other
-------------------------------------------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C> <C> <C>
AOL 0% CONV BOND DUE 12/00 X n/a n/a
-------------------------------------------------------------------------------------------------------------------------------
AOL 3.125 STRIKE PUT 01/22 X n/a n/a
-------------------------------------------------------------------------------------------------------------------------------
AOL 4% CB DUE 11/15/02 X n/a n/a
-------------------------------------------------------------------------------------------------------------------------------
AOL 52.500 STRIKE PUT 01/2 X n/a n/a
-------------------------------------------------------------------------------------------------------------------------------
AOL 55.000 STRIKE PUT 01/2 X n/a n/a
-------------------------------------------------------------------------------------------------------------------------------
AOL 57.5000 STRIKE PUT 01/ X n/a n/a
-------------------------------------------------------------------------------------------------------------------------------
AOL 70.00 STRIKE PUT 01/20 X n/a n/a
-------------------------------------------------------------------------------------------------------------------------------
AOL 75.000 STRIKE PUT 01/2 X n/a n/a
-------------------------------------------------------------------------------------------------------------------------------
AON CORPORATION X n/a X
-------------------------------------------------------------------------------------------------------------------------------
APPLE COMPUTER INC X n/a X
-------------------------------------------------------------------------------------------------------------------------------
ARV ASSISTED LIVING 6.75% X n/a n/a
-------------------------------------------------------------------------------------------------------------------------------
ASHWORTH INC X n/a X
-------------------------------------------------------------------------------------------------------------------------------
ASPEC TECHNOLOGY INC X n/a X
-------------------------------------------------------------------------------------------------------------------------------
ASPECT TELECOM INC 0% CB X n/a n/a
-------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
Page 6 of 40
- --
<TABLE>
<CAPTION>
Form 13F
Name of Reporting Manager Citadel Limited Partnership
-----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 5: Investment Discretion
-----------------------------------
Item 3: Item 4: Shares of (b) Shared Item 7:
Item 1: Item 2: CUSIP Fair Market Principal (a) Sole As Defined (c) Shared- Managers
Name of Issuer Title of Class Number Value Amount in Instr. V Other See Instr. V
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ASPECT TELECOM INC 0% CB CB 045237AE4 56,230,080 138,575 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
ASPEN TECH. 5.25.% CB CB 045327AB9 6,011,228 7,576 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
ASPT 22.500 STRIKE CALL 06 Opt(C) 04523Q102 286,875 150 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
AT HOME CORP .5246% CB CB 045919AC1 16,259,727 25,895 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
ATLANTIC COAST AIRLINES 7% CB 048396AC9 22,489,457 8,462 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
ATMEL CORP 0% CV BOND CB 049513AB0 5,068,565 5,985 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
ATML CORP 0% CV BOND CB 049513AC8 8,406,960 9,927 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
ATRIX LABS. 7% REG CB 12/1 CB 04962LAC5 871,713 1,500 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
AUTONATION INC Cmn 05329W102 576,275 62,300 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
AXA FINANCIAL Cmn 2451102 3,641,400 107,100 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
BAANF COMPANY N.V. CB CB 056072AB7 15,011,712 16,750 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
BANK ONE CORP. Cmn 06423A103 2,057,600 64,300 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
BANK UNITED CORP-CL A Cmn 65412108 264,325 9,700 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
BARD C R INC Cmn 67383109 1,457,500 27,500 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 138,633,415
------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
---------------------------------
(SEC USE ONLY)
----------------------------------------------------------------------
Item 8:
Voting Authority (Shares)
---------------------------------
Item 1:
Name of Issuer (a) Sole (b) Shared (c) None
----------------------------------------------------------------------
<S> <C> <C> <C>
ASPECT TELECOM INC 0% CB n/a
----------------------------------------------------------------------
ASPEN TECH. 5.25.% CB n/a
----------------------------------------------------------------------
ASPT 22.500 STRIKE CALL 06 n/a
----------------------------------------------------------------------
AT HOME CORP .5246% CB n/a
----------------------------------------------------------------------
ATLANTIC COAST AIRLINES 7% n/a
----------------------------------------------------------------------
ATMEL CORP 0% CV BOND n/a
----------------------------------------------------------------------
ATML CORP 0% CV BOND n/a
----------------------------------------------------------------------
ATRIX LABS. 7% REG CB 12/1 n/a
----------------------------------------------------------------------
AUTONATION INC X
----------------------------------------------------------------------
AXA FINANCIAL X
----------------------------------------------------------------------
BAANF COMPANY N.V. CB n/a
----------------------------------------------------------------------
BANK ONE CORP. X
----------------------------------------------------------------------
BANK UNITED CORP-CL A X
----------------------------------------------------------------------
BARD C R INC X
----------------------------------------------------------------------
COLUMN TOTALS
----------------------------------------------------------------------
</TABLE>
<PAGE>
Page 7 of 40
- --
<TABLE>
<CAPTION>
Form 13F
Name of Reporting Manager Citadel Limited Partnership
-----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 5: Investment Discretion
-----------------------------------
Item 3: Item 4: Shares of (b) Shared Item 7:
Item 1: Item 2: CUSIP Fair Market Principal (a) Sole As Defined (c) Shared- Managers
Name of Issuer Title of Class Number Value Amount in Instr. V Other See Instr. V
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BAUSCH & LOMB INC Cmn 71707103 4,927,500 72,000 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
BAXTER INTL INC Cmn 71813109 3,888,094 61,900 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
BB&T CORP. Cmn 54937107 2,611,575 95,400 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
BEAS SYSTEMS 4% CB CB 073325AB8 392,135,935 73,845 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
BED BATH & BEYOND INC Cmn 75896100 1,800,050 51,800 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
BELL ATLANTIC 4.25% EXCH CB 07785GAC4 58,545,758 47,325 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
BEST BUY CO. Cmn 86516101 9,758,550 194,200 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
BEYOND.COM 7.25% CB CB 08860EAA9 4,890,435 8,192 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
BEYOND.COM 7.25% CB CB 83403EAA6 1,080,528 1,810 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
BHE 30.000 STRIKE PUT 01/ Opt (P) 08160H101 534,375 750 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
BHE 30.000 STRIKE PUT 04/2 Opt (P) 08160H101 456,250 500 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
BJ SERVICES CO Cmn 55482103 238,331 5,700 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
BOISE CASCADE CORP Cmn 97383103 2,859,300 70,600 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
BOWATER, INC. Cmn 102183100 4,160,338 76,600 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 487,887,019
-----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
---------------------------------
(SEC USE ONLY)
----------------------------------------------------------------------
Item 8:
Voting Authority (Shares)
---------------------------------
Item 1:
Name of Issuer (a) Sole (b) Shared (c) None
----------------------------------------------------------------------
<S> <C> <C> <C>
BAUSCH & LOMB INC X
----------------------------------------------------------------------
BAXTER INTL INC X
----------------------------------------------------------------------
BB&T CORP. X
----------------------------------------------------------------------
BEAS SYSTEMS 4% CB n/a
----------------------------------------------------------------------
BED BATH & BEYOND INC X
----------------------------------------------------------------------
BELL ATLANTIC 4.25% EXCH n/a
----------------------------------------------------------------------
BEST BUY CO. X
----------------------------------------------------------------------
BEYOND.COM 7.25% CB n/a
----------------------------------------------------------------------
BEYOND.COM 7.25% CB n/a
----------------------------------------------------------------------
BHE 30.000 STRIKE PUT 01/ n/a
----------------------------------------------------------------------
BHE 30.000 STRIKE PUT 04/2 n/a
----------------------------------------------------------------------
BJ SERVICES CO X
----------------------------------------------------------------------
BOISE CASCADE CORP X
----------------------------------------------------------------------
BOWATER, INC. X
----------------------------------------------------------------------
COLUMN TOTALS
----------------------------------------------------------------------
</TABLE>
<PAGE>
Page 8 of 40
- --
<TABLE>
<CAPTION>
Form 13F
Name of Reporting Manager Citadel Limited Partnership
-----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 5: Investment Discretion
-----------------------------------
Item 3: Item 4: Shares of (b) Shared Item 7:
Item 1: Item 2: CUSIP Fair Market Principal (a) Sole As Defined (c) Shared- Managers
Name of Issuer Title of Class Number Value Amount in Instr. V Other See Instr. V
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BRAUN CONSULTING INC Cmn 105651103 14,378,650 201,100 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
BREAK AWAY SOLUTIONS Cmn 106372105 219,000 3,000 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
BRIGHTPOINT 0% OID CB 109473AC2 6,378,752 18,160 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
BROWN-FORMAN -CL B Cmn 115637209 761,425 13,300 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
BYND 12.500 STRIKE PUT 03/ Opt (P) 08860E101 1,037,500 2,000 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
C 40.000 STRIKE PUT 01/20/ Opt (P) 172967101 285,938 1,500 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
C 45.000 STRIKE PUT 01/20/ Opt (P) 172967101 300,000 1,000 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
C 50.000 STRIKE PUT 01/20/ Opt (P) 172967101 288,750 600 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
C 55.000 STRIKE PUT 01/20/ Opt (P) 172967101 401,250 600 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
CABLEVISION SYSTEMS -CL A Cmn 12686C109 7,512,250 99,500 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
CAMPBELL SOUP CO Cmn 134429109 2,476,000 64,000 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
CANADIAN PAC LTD NEW Cmn 135923100 1,634,438 75,800 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
CAREMARK RX INC 6.5% DEBT CB 58503X206 1,716,088 216,200 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
CASMYN CORP Cmn 147619100 2,514 160,906 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 37,392,553
-----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
---------------------------------
(SEC USE ONLY)
----------------------------------------------------------------------
Item 8:
Voting Authority (Shares)
---------------------------------
Item 1:
Name of Issuer (a) Sole (b) Shared (c) None
----------------------------------------------------------------------
<S> <C> <C> <C>
BRAUN CONSULTING INC X
----------------------------------------------------------------------
BREAK AWAY SOLUTIONS X
----------------------------------------------------------------------
BRIGHTPOINT 0% OID n/a
----------------------------------------------------------------------
BROWN-FORMAN -CL B X
----------------------------------------------------------------------
BYND 12.500 STRIKE PUT 03/ n/a
----------------------------------------------------------------------
C 40.000 STRIKE PUT 01/20/ n/a
----------------------------------------------------------------------
C 45.000 STRIKE PUT 01/20/ n/a
----------------------------------------------------------------------
C 50.000 STRIKE PUT 01/20/ n/a
----------------------------------------------------------------------
C 55.000 STRIKE PUT 01/20/ n/a
----------------------------------------------------------------------
CABLEVISION SYSTEMS -CL A X
----------------------------------------------------------------------
CAMPBELL SOUP CO X
----------------------------------------------------------------------
CANADIAN PACLTD NEW X
----------------------------------------------------------------------
CAREMARK RX INC 6.5% DEBT n/a
----------------------------------------------------------------------
CASMYN CORP X
----------------------------------------------------------------------
COLUMN TOTALS
----------------------------------------------------------------------
</TABLE>
<PAGE>
Page 9 0f 40
- --
<TABLE>
<CAPTION>
FORM 13F
Name of Reporting Manager Citadel Limited Partnership
-------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion
-----------------------------------
Name of Issuer Title of Class CUSIP Fair Market Shares of (b) Shared
Number Value Principal (a) Sole As Defined (c) Shared-
Amount in Instr. V Other
-------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
CATERPILLAR INC Cmn 149123101 4,659,188 99,000 X
-------------------------------------------------------------------------------------------------------------------------
C-CUBE MICROSYSTEMS INC Cmn 125015107 18,675,000 300,000 X
-------------------------------------------------------------------------------------------------------------------------
CELL 7.5000 STRIKE CALL 03 Opt (C) 109473108 593,750 1,000 X
-------------------------------------------------------------------------------------------------------------------------
CENDANT CORP Cmm 151313103 2,016,280 75,907 X
-------------------------------------------------------------------------------------------------------------------------
CENTEX CORP Cmn 152312104 254,281 10,300 X
-------------------------------------------------------------------------------------------------------------------------
CENTRAL GARDEN & PET CO Cmn 153527106 103,750 10,000 X
-------------------------------------------------------------------------------------------------------------------------
CENTURA BANKS, INC Cmn 15640T100 273,575 6,200 X
-------------------------------------------------------------------------------------------------------------------------
CEPHALON 7.25% CNV PFD Pfd 156708307 372,450 3,700 X
-------------------------------------------------------------------------------------------------------------------------
CHAMPION INT'L CORP Cmn 158525105 2,719,056 43,900 X
-------------------------------------------------------------------------------------------------------------------------
CHECKPOINT SYSTEMS 5.25% CB 162825103 713,827 1,000 X
-------------------------------------------------------------------------------------------------------------------------
CHEVRON Cmn 166751107 11,980,238 138,300 X
-------------------------------------------------------------------------------------------------------------------------
CHURCH & DWIGHT INC Cmn 171340102 592,463 22,200 X
-------------------------------------------------------------------------------------------------------------------------
CIRCUIT CITY STORES INC- Cmn 172737108 6,727,831 149,300 X
-------------------------------------------------------------------------------------------------------------------------
CIRRUS LOGIC, INC. 6% CB CB 172755AC4 6,382,152 7,433 X
-------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 56,063,840
-------------------------------------------------------------------------------------------------------------------------
<CAPTION>
------------------------------------
(SEC USE ONLY)
-----------------------------------------------------------------------------------------
Item 8:
Item 1: Item 7: Voting Authority (Shares)
------------------------------------
Name of Issuer Managers
See Instr. V (a) Sole (b) Shared (c) None
-----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
CATERPILLAR INC n/a X
-----------------------------------------------------------------------------------------
C-CUBE MICROSYSTEMS INC n/a X
-----------------------------------------------------------------------------------------
CELL 7.5000 STRIKE CALL 03 n/a n/a
-----------------------------------------------------------------------------------------
CENDANT CORP n/a X
-----------------------------------------------------------------------------------------
CENTEX CORP n/a X
-----------------------------------------------------------------------------------------
CENTRAL GARDEN & PET CO n/a X
-----------------------------------------------------------------------------------------
CENTURA BANKS, INC n/a X
-----------------------------------------------------------------------------------------
CEPHALON 7.25% CNV PFD n/a n/a
-----------------------------------------------------------------------------------------
CHAMPION INT'L CORP n/a X
-----------------------------------------------------------------------------------------
CHECKPOINT SYSTEMS 5.25% n/a n/a
-----------------------------------------------------------------------------------------
CHEVRON n/a X
-----------------------------------------------------------------------------------------
CHURCH & DWIGHT INC n/a X
-----------------------------------------------------------------------------------------
CIRCUIT CITY STORES INC- n/a X
-----------------------------------------------------------------------------------------
CIRRUS LOGIC, INC. 6% CB n/a n/a
-----------------------------------------------------------------------------------------
COLUMN TOTALS
-----------------------------------------------------------------------------------------
</TABLE>
<PAGE>
Page 10 0f 40
-- --
<TABLE>
<CAPTION>
FORM 13F
Name of Reporting Manager Citadel Limited Partnership
--------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion
----------------------------------
Name of Issuer Title of Class CUSIP Fair Market Shares of (b) Shared
Number Value Principal (a) Sole As Defined (c) Shared-
Amount in Instr. V Other
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
CITIGROUP INC. Cmn 172967101 13,997,053 251,350 X
--------------------------------------------------------------------------------------------------------------------------------
CITRIX SYS 0% CB DUE 3/22 CB 177376AB6 36,705,214 41,250 X
--------------------------------------------------------------------------------------------------------------------------------
CITRIX SYS INC 0% DUE 3/22 CB 177376AA8 6,299,947 7,080 X
--------------------------------------------------------------------------------------------------------------------------------
CKE RESTAURANTS INC Cmn 1.2561E+109 343,688 58,500 X
--------------------------------------------------------------------------------------------------------------------------------
CKE RESTAURANTS INC 9.125% CB 12561EAE5 1,520,000 2,000 X
--------------------------------------------------------------------------------------------------------------------------------
CKR 7.5000 STRIKE PUT 03/1 Opt (P) 12561E105 337,500 1,500 X
--------------------------------------------------------------------------------------------------------------------------------
CLAIRES STORES INC Cmn 179584107 1,248,525 55,800 X
--------------------------------------------------------------------------------------------------------------------------------
CLARIFY INC Cmn 180492100 75,600,000 600,000 X
--------------------------------------------------------------------------------------------------------------------------------
CLEARNET COMM WARRANT Wt 184302112 948,000 50,000 X
--------------------------------------------------------------------------------------------------------------------------------
CMS ENERGY 8.75% CV Pfd 125896308 23,472,774 691,800 X
--------------------------------------------------------------------------------------------------------------------------------
CNET NETWORKS INC. 5.00% CB 125945AA3 1,415,447 860 X
--------------------------------------------------------------------------------------------------------------------------------
CNET NETWORKS INC. 5.00% CB 125945AC9 8,229,340 5,000 X
--------------------------------------------------------------------------------------------------------------------------------
COASTAL CORP 6.625% Pfd 190441865 1,057,056 46,200 X
--------------------------------------------------------------------------------------------------------------------------------
COHERENT INC Cmn 192479103 267,500 10,000 X
--------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 171,442,043
--------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
-----------------------------------------------------------------------------------------
Item 8:
Item 1: Item 7: Voting Authority (Shares)
----------------------------------
Name of Issuer Managers
See Instr. V (a) Sole (b) Shared (c) None
-----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
CITIGROUP INC. n/a X
-----------------------------------------------------------------------------------------
CITRIX SYS 0% CB DUE 3/22 n/a n/a
-----------------------------------------------------------------------------------------
CITRIX SYS INC 0% DUE 3/22 n/a n/a
-----------------------------------------------------------------------------------------
CKE RESTAURANTS INC n/a X
-----------------------------------------------------------------------------------------
CKE RESTAURANTS INC 9.125% n/a n/a
-----------------------------------------------------------------------------------------
CKR 7.5000 STRIKE PUT 03/1 n/a n/a
-----------------------------------------------------------------------------------------
CLAIRES STORES INC n/a X
-----------------------------------------------------------------------------------------
CLARIFY INC n/a X
-----------------------------------------------------------------------------------------
CLEARNET COMM WARRANT n/a n/a
-----------------------------------------------------------------------------------------
CMS ENERGY 8.75% CV n/a n/a
-----------------------------------------------------------------------------------------
CNET NETWORKS INC. 5.00% n/a n/a
-----------------------------------------------------------------------------------------
CNET NETWORKS INC. 5.00% n/a n/a
-----------------------------------------------------------------------------------------
COASTAL CORP 6.625% n/a n/a
-----------------------------------------------------------------------------------------
COHERENT INC n/a X
-----------------------------------------------------------------------------------------
COLUMN TOTALS
-----------------------------------------------------------------------------------------
</TABLE>
<PAGE>
Page 11 0f 40
-- --
<TABLE>
<CAPTION>
FORM 13F
Name of Reporting Manager Citadel Limited Partnership
---------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion
----------------------------------
Name of Issuer Title of Class CUSIP Fair Market Shares of (b) Shared
Number Value Principal (a) Sole As Defined (c) Shared-
Amount in Instr. V Other
---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
COLUMBIA HCA HEALTHCARE Cmn 197677107 779,713 26,600 X
---------------------------------------------------------------------------------------------------------------------------------
COMCAST 2% INTO PCS Pfd 200300606 27,969,830 280,000 X
---------------------------------------------------------------------------------------------------------------------------------
COMDISCO INC Cmn 200336105 3,505,225 94,100 X
---------------------------------------------------------------------------------------------------------------------------------
COMERICA INC Cmn 200340107 1,545,356 33,100 X
---------------------------------------------------------------------------------------------------------------------------------
COMPAQ COMPUTER Cmn 204493100 5,875,269 217,100 X
---------------------------------------------------------------------------------------------------------------------------------
COMVERSE TECH 4.5% CB CB 205862AF2 546,676 160 X
---------------------------------------------------------------------------------------------------------------------------------
COMVERSE TECH 4.5% CB CB 205862AG0 14,998,746 4,390 X
---------------------------------------------------------------------------------------------------------------------------------
CONAGRA INC Cmn 205887102 1,483,763 65,400 X
---------------------------------------------------------------------------------------------------------------------------------
CONEXANT SYSTEMS 4.25% CB CB 207142AA8 10,102,155 3,420 X
---------------------------------------------------------------------------------------------------------------------------------
CONEXANT SYSTEMS 4.25% CB CB 207142AB6 28,977,235 9,810 X
---------------------------------------------------------------------------------------------------------------------------------
CONOCO CL B Cmn 208251405 16,928,930 680,560 X
---------------------------------------------------------------------------------------------------------------------------------
CONSECO INC. Cmn 208464107 6,154,219 345,500 X
---------------------------------------------------------------------------------------------------------------------------------
CONSOLIDATED NATURAL GAS Cmn 209615106 58,443,750 900,000 X
---------------------------------------------------------------------------------------------------------------------------------
COOPER INDUSTRIES Cmn 216669101 1,496,188 37,000 X
---------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 178,807,053
---------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
-----------------------------------------------------------------------------------------
Item 8:
Item 1: Item 7: Voting Authority (Shares)
----------------------------------
Name of Issuer Managers
See Instr. V (a) Sole (b) Shared (c) None
-----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
COLUMBIA HCA HEALTHCARE n/a X
-----------------------------------------------------------------------------------------
COMCAST 2% INTO PCS n/a n/a
-----------------------------------------------------------------------------------------
COMDISCO INC n/a X
-----------------------------------------------------------------------------------------
COMERICA INC n/a X
-----------------------------------------------------------------------------------------
COMPAQ COMPUTER n/a X
-----------------------------------------------------------------------------------------
COMVERSE TECH 4.5% CB n/a n/a
-----------------------------------------------------------------------------------------
COMVERSE TECH 4.5% CB n/a n/a
-----------------------------------------------------------------------------------------
CONAGRA INC n/a X
-----------------------------------------------------------------------------------------
CONEXANT SYSTEMS 4.25% CB n/a n/a
-----------------------------------------------------------------------------------------
CONEXANT SYSTEMS 4.25% CB n/a n/a
-----------------------------------------------------------------------------------------
CONOCO CL B n/a X
-----------------------------------------------------------------------------------------
CONSECO INC. n/a X
-----------------------------------------------------------------------------------------
CONSOLIDATED NATURAL GAS n/a X
-----------------------------------------------------------------------------------------
COOPER INDUSTRIES n/a X
-----------------------------------------------------------------------------------------
COLUMN TOTALS
-----------------------------------------------------------------------------------------
</TABLE>
<PAGE>
Page 12 of 40 FORM 13F
-- --
<TABLE>
<CAPTION>
Name of Reporting Manager Citadel Limited Partnership
----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion
----------------------------------
Name of Issuer Title of Class CUSIP Fair Market Shares of (b) Shared
Number Value Principal (a) Sole As Defined (c) Shared-
Amount in Instr.V Other
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
COX COMMS 7% FELINE Pfd 224044305 7,160,340 104,500 X
----------------------------------------------------------------------------------------------------------------------------------
COX COMMUNICATIONS 7.75% Pfd 224044503 13,297,572 137,400 X
----------------------------------------------------------------------------------------------------------------------------------
CREDENCE SYS. REG 5.25% CB CB 225302AC2 7,126,985 5,214 X
----------------------------------------------------------------------------------------------------------------------------------
CRESENT REAL ESTATE 6.75% Pfd 225756204 620,399 43,500 X
----------------------------------------------------------------------------------------------------------------------------------
CROWN CASTLE INTL 7% Pfd 24366F203 7,241,600 248,000 X
----------------------------------------------------------------------------------------------------------------------------------
CRUS 10.000 STRIKE PUT 01/ Opt (P) 172755100 203,125 1,250 X
----------------------------------------------------------------------------------------------------------------------------------
CSCO 37.5 STRIKE PUT 01/20 Opt (P) 17275R102 221,875 500 X
----------------------------------------------------------------------------------------------------------------------------------
CSCO 42.5 STRIKE PUT 01/19 Opt (P) 17275R102 1,075,000 1,000 X
----------------------------------------------------------------------------------------------------------------------------------
CTXS 35.000 STRIKE PUT 06/ Opt (P) 177376100 382,813 1,250 X
----------------------------------------------------------------------------------------------------------------------------------
CUC/CD INTL. 3% REG CB DUE CB 126545AD4 4,862,029 4,804 X
----------------------------------------------------------------------------------------------------------------------------------
CULLEN/FROST BANKERS INC Cmn 229899109 293,550 11,400 X
----------------------------------------------------------------------------------------------------------------------------------
CVS CORP 6% DEBT PERC CB 126645209 7,125,030 99,000 X
----------------------------------------------------------------------------------------------------------------------------------
CY 25.000 STRIKE CALL 03/1 Opt (C) 232806109 434,375 500 X
----------------------------------------------------------------------------------------------------------------------------------
CYPRESS SEMICONDUCTOR 6% CB 232806AD1 6,134,957 4,191 X
----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 56,179,650
----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
---------------------------------------
(SEC USE ONLY)
---------------------------------------------------------------------------------------------
Item 8:
Item 1: Item 7: Voting Authority (Shares)
---------------------------------------
Name of Issuer Managers
See Instr. V (a) Sole (b) Shared (c) None
---------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
COX COMMS 7% FELINE n/a n/a
---------------------------------------------------------------------------------------------
COX COMMUNICATIONS 7.75% n/a n/a
---------------------------------------------------------------------------------------------
CREDENCE SYS. REG 5.25% CB n/a n/a
---------------------------------------------------------------------------------------------
CRESENT REAL ESTATE 6.75% n/a n/a
---------------------------------------------------------------------------------------------
CROWN CASTLE INTL 7% n/a n/a
---------------------------------------------------------------------------------------------
CRUS 10.000 STRIKE PUT 01/ n/a n/a
---------------------------------------------------------------------------------------------
CSCO 37.5 STRIKE PUT 01/20 n/a n/a
---------------------------------------------------------------------------------------------
CSCO 42.5 STRIKE PUT 01/19 n/a n/a
---------------------------------------------------------------------------------------------
CTXS 35.000 STRIKE PUT 06/ n/a n/a
---------------------------------------------------------------------------------------------
CUC/CD INTL. 3% REG CB DUE n/a n/a
---------------------------------------------------------------------------------------------
CULLEN/FROST BANKERS INC n/a X
---------------------------------------------------------------------------------------------
CVS CORP 6% DEBT PERC n/a n/a
---------------------------------------------------------------------------------------------
CY 25.000 STRIKE CALL 03/1 n/a n/a
---------------------------------------------------------------------------------------------
CYPRESS SEMICONDUCTOR 6% n/a n/a
---------------------------------------------------------------------------------------------
COLUMN TOTALS
---------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
Page 13 of 40 FORM 13F
-- --
<TABLE>
<CAPTION>
Name of Reporting Manager Citadel Limited Partnership
----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion
----------------------------------
Name of Issuer Title of Class CUSIP Fair Market Shares of (b) Shared
Number Value Principal (a) Sole As Defined (c) Shared-
Amount in Instr.V Other
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
DAISYTEK INTL CORP Cmn 234053106 1,049,063 45,000 X
----------------------------------------------------------------------------------------------------------------------------------
DALLAS SEMICONDUCTOR CORP Cmn 235204104 882,794 13,700 X
----------------------------------------------------------------------------------------------------------------------------------
DANAHER CORP Cmn 235851102 4,202,575 87,100 X
----------------------------------------------------------------------------------------------------------------------------------
DEAN FOODS CO Cmn 242361103 1,299,825 32,700 X
----------------------------------------------------------------------------------------------------------------------------------
DEERE & COMPANY Cmn 244199105 4,324,488 99,700 X
----------------------------------------------------------------------------------------------------------------------------------
DELL COMPUTER Cmn 247025109 1,887,000 37,000 X
----------------------------------------------------------------------------------------------------------------------------------
DELTA & PINE LAND CO Cmn 247357106 8,861,250 510,000 X
----------------------------------------------------------------------------------------------------------------------------------
DELTA AIRLINES Cmn 247361108 6,141,881 123,300 X
----------------------------------------------------------------------------------------------------------------------------------
DEVRY INC Cmn 251893103 562,500 30,000 X
----------------------------------------------------------------------------------------------------------------------------------
DOMINION RES INC VA Cmn 25746U109 19,986,100 509,200 X
----------------------------------------------------------------------------------------------------------------------------------
DOVER CORP Cmn 260003108 4,115,513 90,700 X
----------------------------------------------------------------------------------------------------------------------------------
DOW JONES & CO INC Cmn 260561105 2,264,400 33,300 X
----------------------------------------------------------------------------------------------------------------------------------
DREYER'S GRAND ICE CREAM Cmn 261878102 1,613,300 94,900 X
----------------------------------------------------------------------------------------------------------------------------------
DUKE ENERGY Cmn 264399106 716,788 14,300 X
----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 57,907,475
----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
---------------------------------------
(SEC USE ONLY)
---------------------------------------------------------------------------------------------
Item 8:
Item 1: Item 7: Voting Authority (Shares)
---------------------------------------
Name of Issuer Managers
See Instr. V (a) Sole (b) Shared (c) None
---------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
DAISYTEK INTL CORP n/a X
---------------------------------------------------------------------------------------------
DALLAS SEMICONDUCTOR CORP n/a X
---------------------------------------------------------------------------------------------
DANAHER CORP n/a X
---------------------------------------------------------------------------------------------
DEAN FOODS CO n/a X
---------------------------------------------------------------------------------------------
DEERE & COMPANY n/a X
---------------------------------------------------------------------------------------------
DELL COMPUTER n/a X
---------------------------------------------------------------------------------------------
DELTA & PINE LAND CO n/a X
---------------------------------------------------------------------------------------------
DELTA AIRLINES n/a X
---------------------------------------------------------------------------------------------
DEVRY INC n/a X
---------------------------------------------------------------------------------------------
DOMINION RES INC VA n/a X
---------------------------------------------------------------------------------------------
DOVER CORP n/a X
---------------------------------------------------------------------------------------------
DOW JONES & CO INC n/a X
---------------------------------------------------------------------------------------------
DREYER'S GRAND ICE CREAM n/a X
---------------------------------------------------------------------------------------------
DUKE ENERGY n/a X
---------------------------------------------------------------------------------------------
COLUMN TOTALS
---------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
Page 14 of 40 FORM 13F
-- --
<TABLE>
<CAPTION>
Name of Reporting Manager Citadel Limited Partnership
----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion
----------------------------------
Name of Issuer Title of Class CUSIP Fair Market Shares of (b) Shared
Number Value Principal (a) Sole As Defined (c) Shared-
Amount in Instr.V Other
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
DURA PHARMACETICALS 3.5% CB 26632SAA7 446,587 550 X
----------------------------------------------------------------------------------------------------------------------------------
DYERSBURG CORP Cmn 267575108 177,656 189,500 X
----------------------------------------------------------------------------------------------------------------------------------
EARTHLINK INC 5% CB CB 602683AA2 25,608,000 26,675 X
----------------------------------------------------------------------------------------------------------------------------------
EATON CORP Cmn 278058102 6,318,375 87,000 X
----------------------------------------------------------------------------------------------------------------------------------
EDWARDS (A G) INC Cmn 281760108 1,696,106 52,900 X
----------------------------------------------------------------------------------------------------------------------------------
ELECTRONIC DATA SYSTEMS Cmn 285661104 12,336,581 184,300 X
----------------------------------------------------------------------------------------------------------------------------------
EMC 70.000 STRIKE PUT 01/2 Opt (P) 268648102 215,625 500 X
----------------------------------------------------------------------------------------------------------------------------------
EMERSON ELECTRIC Cmn 291011104 1,767,150 30,800 X
----------------------------------------------------------------------------------------------------------------------------------
ENAMELON INC Cmn 292499100 134,713 561,304 X
----------------------------------------------------------------------------------------------------------------------------------
ENE 37.500 STRIKE CALL 01/ Opt (C) 293561106 368,750 500 X
----------------------------------------------------------------------------------------------------------------------------------
ENRON CORP 7% DEBT PERC CB 293561882 10,169,500 550,000 X
----------------------------------------------------------------------------------------------------------------------------------
ENRON CORP Cmn 293561106 2,982,000 67,200 X
----------------------------------------------------------------------------------------------------------------------------------
ENSCO INTL INC Cmn 26874Q100 2,129,663 93,100 X
----------------------------------------------------------------------------------------------------------------------------------
EPCOS AG -SPON ADR 1:1 Cmn 29410P107 745,000 10,000 X
----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 65,095,706
----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
---------------------------------------
(SEC USE ONLY)
---------------------------------------------------------------------------------------------
Item 8:
Item 1: Item 7: Voting Authority (Shares)
---------------------------------------
Name of Issuer Managers
See Instr. V (a) Sole (b) Shared (c) None
---------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
DURA PHARMACETICALS 3.5% n/a n/a
---------------------------------------------------------------------------------------------
DYERSBURG CORP n/a X
---------------------------------------------------------------------------------------------
EARTHLINK INC 5% CB n/a n/a
---------------------------------------------------------------------------------------------
EATON CORP n/a X
---------------------------------------------------------------------------------------------
EDWARDS (A G) INC n/a X
---------------------------------------------------------------------------------------------
ELECTRONIC DATA SYSTEMS n/a X
---------------------------------------------------------------------------------------------
EMC 70.000 STRIKE PUT 01/2 n/a n/a
---------------------------------------------------------------------------------------------
EMERSON ELECTRIC n/a X
---------------------------------------------------------------------------------------------
ENAMELON INC n/a X
---------------------------------------------------------------------------------------------
ENE 37.500 STRIKE CALL 01/ n/a n/a
---------------------------------------------------------------------------------------------
ENRON CORP 7% DEBT PERC n/a n/a
---------------------------------------------------------------------------------------------
ENRON CORP n/a X
---------------------------------------------------------------------------------------------
ENSCO INTL INC n/a X
---------------------------------------------------------------------------------------------
EPCOS AG -SPON ADR 1:1 n/a X
---------------------------------------------------------------------------------------------
COLUMN TOTALS
---------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
Page 15 of 40
-- --
<TABLE>
<CAPTION>
FORM 13F
Name of Reporting Manager Citadel Limited Partnership
-------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion
-----------------------------------------
Name of Issuer Title of Class CUSIP Fair Maket Shares of (b) Shared
Number Value Principal (a) Sole As Defined (c) Shared-
Amount in Instr. V Other
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
EQUITY OFFICE PROPERTIES Cmn 294741103 1,046,563 42,500 X
-------------------------------------------------------------------------------------------------------------------------------
ESTEE LAUDER MAND. 6.25% Pfd 518437207 20,983,448 241,300 X
-------------------------------------------------------------------------------------------------------------------------------
ESTEE LAUDER TRACES 6.25% Pfd 518438205 12,506,250 133,400 X
-------------------------------------------------------------------------------------------------------------------------------
ETHAN ALLEN INTERIORS Cmn 297602104 1,183,106 36,900 X
-------------------------------------------------------------------------------------------------------------------------------
ETOYS 6.25% CONV BOND CB 297862AA2 1,535,400 2,500 X
-------------------------------------------------------------------------------------------------------------------------------
EXDS 45.000 STRIKE PUT 06/ Opt (P) 302088AE9 210,000 800 X
-------------------------------------------------------------------------------------------------------------------------------
EXDS 65.00 STRIKE PUT 06/1 Opt (P) 302088AE9 887,500 1,000 X
-------------------------------------------------------------------------------------------------------------------------------
EXIDE CORP Cmn 302051107 2,123,844 255,500 X
-------------------------------------------------------------------------------------------------------------------------------
EXODUS COMMUN. 5% CB CB 302088AE9 7,790,000 1,000 X
-------------------------------------------------------------------------------------------------------------------------------
FAMILY DOLLAR STORES Cmn 307000109 3,050,438 187,000 X
-------------------------------------------------------------------------------------------------------------------------------
FANNIE MAE Cmn 313586109 9,883,856 158,300 X
-------------------------------------------------------------------------------------------------------------------------------
FEDERAL HOME LN MTG CORP Cmn 313400301 7,595,888 161,400 X
-------------------------------------------------------------------------------------------------------------------------------
FINOVA GROUP INC Cmn 317928109 2,559,550 72,100 X
-------------------------------------------------------------------------------------------------------------------------------
FIRST DATA CORP Cmn 319963104 9,714,563 197,000 X
-------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 81,070,405
--------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
------------------------------------
(SEC USE ONLY
--------------------------------------------------------------------------------------------------
Item 8:
Item 7M Voting Authority (Shares)
Managers --------------------------------------
See Instr. V (a) Sole (b) Shared (c) None
--------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
EQUITY OFFICE PROPERTIES
--------------------------------------------------------------------------------------------------
ESTEE LAUDER MAND. 6.25% n/a X
--------------------------------------------------------------------------------------------------
ESTEE LAUDER TRACES 6.25% n/a n/a
--------------------------------------------------------------------------------------------------
ETHAN ALLEN INTERIORS n/a n/a
--------------------------------------------------------------------------------------------------
ETOYS 6.25% CONV BOND n/a X
--------------------------------------------------------------------------------------------------
EXDS 45.000 STRIKE PUT 06/ n/a n/a
--------------------------------------------------------------------------------------------------
EXDS 65.00 STRIKE PUT 06/1 n/a n/a
--------------------------------------------------------------------------------------------------
EXIDE CORP n/a n/a
--------------------------------------------------------------------------------------------------
EXODUS COMMUN. 5% CB n/a X
--------------------------------------------------------------------------------------------------
FAMILY DOLLAR STORES n/a n/a
--------------------------------------------------------------------------------------------------
FANNIE MAE n/a X
--------------------------------------------------------------------------------------------------
FEDERAL HOME LN MTG CORP n/a X
--------------------------------------------------------------------------------------------------
FINOVA GROUP INC n/a X
--------------------------------------------------------------------------------------------------
FIRST DATA CORP n/a X
--------------------------------------------------------------------------------------------------
COLUMN TOTALS n/a X
--------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
Page 16 of 40
-- --
<TABLE>
<CAPTION>
FORM 13F
Name of Reporting Manager Citadel Limited Partnership
-------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion
-----------------------------------------
Name of Issuer Title of Class CUSIP Fair Maket Shares of (b) Shared
Number Value Principal (a) Sole As Defined (c) Shared-
Amount in Instr. V Other
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
FIRST SECURITY CORP/DE Cmn 336294103 43,055,926 1,686,401 X
--------------------------------------------------------------------------------------------------------------------------------
FIRSTCOM CORP Cmn 33763T104 367,500 10,000 X
--------------------------------------------------------------------------------------------------------------------------------
FLEET BOSTON FINANCIAL Cmn 339030108 7,355,881 211,300 X
--------------------------------------------------------------------------------------------------------------------------------
FLEXTRONICS INTL Cmn Y2573F102 308,200 6,700 X
--------------------------------------------------------------------------------------------------------------------------------
FMC CORP Cmn 302491303 1,839,731 32,100 X
--------------------------------------------------------------------------------------------------------------------------------
FOREST OIL CORP Cmn 346091606 1,374,138 104,200 X
--------------------------------------------------------------------------------------------------------------------------------
FORT JAMES CORP. Cmn 347471104 4,651,013 169,900 X
--------------------------------------------------------------------------------------------------------------------------------
FOUR SEASONS 0% CB CB 35100EAD6 24,253,679 78,285 X
--------------------------------------------------------------------------------------------------------------------------------
GALEY & LORD INC 9.125% 03 CB 36352KAC7 1,200,000 5,000 X
--------------------------------------------------------------------------------------------------------------------------------
GEMSTAR INTL GROUP LTD Cmn G3788V106 2,857,125 40,100 X
--------------------------------------------------------------------------------------------------------------------------------
GENERAL DYNAMICS CORP Cmn 369550108 5,211,700 98,800 X
--------------------------------------------------------------------------------------------------------------------------------
GENERAL INSTRUMENT CORP Cmn 370120107 31,543,500 371,100 X
--------------------------------------------------------------------------------------------------------------------------------
GENERAL MOTORS Cmn 370442105 11,637,269 160,100 X
--------------------------------------------------------------------------------------------------------------------------------
GENRAD INC Cmn 372447102 333,788 20,700 X
--------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 135,989,448
--------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
------------------------------------
(SEC USE ONLY
--------------------------------------------------------------------------------------------------
Item 8:
Item 7M Voting Authority (Shares)
Managers --------------------------------------
See Instr. V (a) Sole (b) Shared (c) None
<S> <C> <C> <C> <C>
--------------------------------------------------------------------------------------------------
FIRST SECURITY CORP/DE n/a X
--------------------------------------------------------------------------------------------------
FIRSTCOM CORP n/a X
--------------------------------------------------------------------------------------------------
FLEET BOSTON FINANCIAL n/a X
--------------------------------------------------------------------------------------------------
FLEXTRONICS INTL n/a X
--------------------------------------------------------------------------------------------------
FMC CORP n/a X
--------------------------------------------------------------------------------------------------
FOREST OIL CORP n/a X
--------------------------------------------------------------------------------------------------
FORT JAMES CORP. n/a X
--------------------------------------------------------------------------------------------------
FOUR SEASONS 0% CB n/a n/a
--------------------------------------------------------------------------------------------------
GALEY & LORD INC 9.125% 03 n/a n/a
--------------------------------------------------------------------------------------------------
GEMSTAR INTL GROUP LTD n/a X
--------------------------------------------------------------------------------------------------
GENERAL DYNAMICS CORP n/a X
--------------------------------------------------------------------------------------------------
GENERAL INSTRUMENT CORP n/a X
--------------------------------------------------------------------------------------------------
GENERAL MOTORS n/a X
--------------------------------------------------------------------------------------------------
GENRAD INC n/a X
--------------------------------------------------------------------------------------------------
COLUMN TOTALS
--------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F
Page 17 of 40
-- --
Name of Reporting Manager Citadel Limited Partnership
------------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion
--------------------------------------
Name of Issuer Title of Class CUSIP Fair Maket Shares of (b) Shared
Number Value Principal (a) Sole As Defined (c) Shared-
Amount in Instr. V Other
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
GENUINE PARTS CO Cmn 372460105 260,531 10,500 X
------------------------------------------------------------------------------------------------------------------------------------
GEORGIA GULF CORP Cmn 373200203 490,044 16,100 X
------------------------------------------------------------------------------------------------------------------------------------
GEORGIA PACIFIC 7.5% Pfd 373298801 4,056,195 79,300 X
------------------------------------------------------------------------------------------------------------------------------------
GEOWORKS Cmn 373692102 167,500 10,000 X
------------------------------------------------------------------------------------------------------------------------------------
GETTY IMAGES INC 4.75% CB CB 374276AA1 900,412 500 X
------------------------------------------------------------------------------------------------------------------------------------
GETTY IMAGES INC 4.75% CB CB 374276AC7 7,257,321 4,030 X
------------------------------------------------------------------------------------------------------------------------------------
GLOBAL CROSSING 6.375% Pfd 37932J202 3,206,358 25,600 X
------------------------------------------------------------------------------------------------------------------------------------
GLOBAL LIGHT TELECOMM Cmn 37934X100 495,000 40,000 X
------------------------------------------------------------------------------------------------------------------------------------
GLOBAL TELESYSTEMS 7.25% Pfd 37936U609 709,625 12,500 X
------------------------------------------------------------------------------------------------------------------------------------
GLOBAL TELESYSTEMS GROUP 5 CB 37936UAE4 14,265,826 10,500 X
------------------------------------------------------------------------------------------------------------------------------------
GLOBALSTAR TELCOMM. LTD. 9% Pfd 379364870 1,830,000 20,000 X
------------------------------------------------------------------------------------------------------------------------------------
GLOBALSTAR TELECOMM. LTD Pfd 379364508 270,270 2,700 X
------------------------------------------------------------------------------------------------------------------------------------
GOODYEAR TIRE Cmn 382550101 5,359,938 191,000 X
------------------------------------------------------------------------------------------------------------------------------------
GREAT ATLANTIC & PAC TEA Cmn 390064103 671,788 24,100 X
------------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 39,940,806
------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------------------
(SEC USE ONLY)
---------------------------------------------------------------------------------------------
Item 8:
Item 7: Voting Authority (Shares)
Managers ----------------------------------------------
See Instr. V (a) Sole (b) Shared (c) None
----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
GENUINE PARTS CO n/a X
----------------------------------------------------------------------------------------------
GEORGIA GULF CORP n/a X
----------------------------------------------------------------------------------------------
GEORGIA PACIFIC 7.5% n/a n/a
----------------------------------------------------------------------------------------------
GEOWORKS n/a X
----------------------------------------------------------------------------------------------
GETTY IMAGES INC 4.75% CB n/a n/a
----------------------------------------------------------------------------------------------
GETTY IMAGES INC 4.75% CB n/a n/a
----------------------------------------------------------------------------------------------
GLOBAL CROSSING 6.375% n/a n/a
----------------------------------------------------------------------------------------------
GLOBAL LIGHT TELECOMM n/a X
----------------------------------------------------------------------------------------------
GLOBAL TELESYSTEMS 7.25% n/a n/a
----------------------------------------------------------------------------------------------
GLOBAL TELESYSTEMS GROUP 5 n/a n/a
----------------------------------------------------------------------------------------------
GLOBALSTAR TELCOMM. LTD. 9% n/a n/a
----------------------------------------------------------------------------------------------
GLOBALSTAR TELECOMM. LTD n/a n/a
----------------------------------------------------------------------------------------------
GOODYEAR TIRE n/a X
----------------------------------------------------------------------------------------------
GREAT ATLANTIC & PAC TEA n/a X
----------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F
Page 18 of 40
-- --
Name of Reporting Manager Citadel Limited Partnership
----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion
--------------------------------------
Name of Issuer Title of Class CUSIP Fair Maket Shares of (b) Shared
Number Value Principal (a) Sole As Defined (c) Shared-
Amount in Instr. V Other
---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
GTE CORP Cmn 362320103 49,774,788 705,400 X
------------------------------------------------------------------------------------------------------------------------------------
GUM TECH INTL INC Cmn 402803100 274,784 17,174 X
------------------------------------------------------------------------------------------------------------------------------------
HALLBURTON CO Cmn 406216101 273,700 6,800 X
------------------------------------------------------------------------------------------------------------------------------------
HANNAFORD BROTHERS CO Cmn 410550107 9,502,700 137,100 X
------------------------------------------------------------------------------------------------------------------------------------
HANOVER COMPRESSOR Cmn 410768105 9,618,700 254,800 X
------------------------------------------------------------------------------------------------------------------------------------
HARLAND (JOHN H.) CO CB 805897AA3 1.292,200 1,420 X
------------------------------------------------------------------------------------------------------------------------------------
HARLEY-DAVIDSON INC Cmn 412822108 506,094 7,900 X
------------------------------------------------------------------------------------------------------------------------------------
HEALTHEXTRAS INC Cmn 422211102 549,600 45,800 X
------------------------------------------------------------------------------------------------------------------------------------
HEALTHSOUTH CORP Cmn 421924101 268,750 50,000 X
------------------------------------------------------------------------------------------------------------------------------------
HEARX LTD Cmn 422360305 262,269 55,951 X
------------------------------------------------------------------------------------------------------------------------------------
HERBALIFE INTL - CL B Cmn 426908307 896,125 67,000 X
------------------------------------------------------------------------------------------------------------------------------------
HILTON HOTELS Cmn 432848109 1,721,250 180,000 X
------------------------------------------------------------------------------------------------------------------------------------
HLT 12.500 STRIKE PUT 01/2 Opt (P) 432848109 587,500 2,000 X
------------------------------------------------------------------------------------------------------------------------------------
HMT TECHNOLOGY 5.75% REG CB 403917AD9 1,850,000 5,000 X
------------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 77,378,503
-----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
---------------------------------------------
(SEC USE ONLY)
--------------------------------------------------------------------------------------------
Item 8:
Item 7: Voting Authority (Shares)
Managers ---------------------------------------------
See Instr. V (a) Sole (b) Shared (c) None
--------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
GTE CORP n/a X
--------------------------------------------------------------------------------------------
GUM TECH INTL INC n/a X
--------------------------------------------------------------------------------------------
HALLBURTON CO n/a X
--------------------------------------------------------------------------------------------
HANNAFORD BROTHERS CO n/a X
--------------------------------------------------------------------------------------------
HANOVER COMPRESSOR n/a X
--------------------------------------------------------------------------------------------
HARLAND (JOHN H.) CO n/a n/a
--------------------------------------------------------------------------------------------
HARLEY-DAVIDSON INC n/a X
--------------------------------------------------------------------------------------------
HEALTHEXTRAS INC n/a X
--------------------------------------------------------------------------------------------
HEALTHSOUTH CORP n/a X
--------------------------------------------------------------------------------------------
HEARX LTD n/a X
--------------------------------------------------------------------------------------------
HERBALIFE INTL - CL B n/a X
--------------------------------------------------------------------------------------------
HILTON HOTELS n/a X
--------------------------------------------------------------------------------------------
HLT 12.500 STRIKE PUT 01/2 n/a n/a
--------------------------------------------------------------------------------------------
HMT TECHNOLOGY 5.75% REG N/a n/a
--------------------------------------------------------------------------------------------
COLUMN TOTALS
--------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F
Page 19 of 40
-- --
Name of Reporting Manager Citadel Limited Partnership
------------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion
-------------------------------------
Name of Issuer Title of Class CUSIP Fair Maket Shares of (b) Shared
Number Value Principal (a) Sole As Defined (c) Shared-
Amount in Instr. V Other
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
HNC SOFTWARE, INC. 4.75% CB 40425PAA5 24,708,146 10,250 X
------------------------------------------------------------------------------------------------------------------------------------
HNCS 85.000 STRIKE PUT 07/ Opt (P) 40425P107 875,000 500 X
------------------------------------------------------------------------------------------------------------------------------------
HOLLYWOOD ENTMT CORP Cmn 436141105 1,595,000 110,000 X
------------------------------------------------------------------------------------------------------------------------------------
HONEYWELL INTERNATIONAL Cmn 438516106 12,247,056 212,300 X
------------------------------------------------------------------------------------------------------------------------------------
HOUSEHOLD INTL INC Cmn 441815107 6,660,300 178,800 X
------------------------------------------------------------------------------------------------------------------------------------
HOUSTON INTO TIME WARNER Pfd 442161204 29,367,882 245,100 X
------------------------------------------------------------------------------------------------------------------------------------
HRC 25.000 STRIKE PUT 01/2 Opt (P) 421924101 984,375 500 X
------------------------------------------------------------------------------------------------------------------------------------
HUMAN GENOME SCI. 5% 12/15 CB 444903AC2 301,250 250 X
------------------------------------------------------------------------------------------------------------------------------------
HUMAN GENOME SCIENCES Cmn 444903108 503,663 3,300 X
------------------------------------------------------------------------------------------------------------------------------------
IBM Cmn 459200101 21,531,850 199,600 X
------------------------------------------------------------------------------------------------------------------------------------
IBM 100.00 STRIKE PUT 01/2 Opt (P) 459200101 1,068,750 1,000 X
------------------------------------------------------------------------------------------------------------------------------------
IBM 105.00 STRIKE PUT 01/2 Opt (P) 459200101 350,000 1,000 X
------------------------------------------------------------------------------------------------------------------------------------
IBM 70.000 STRIKE PUT 01/2 Opt (P) 459200101 231,250 1,000 X
------------------------------------------------------------------------------------------------------------------------------------
IBM 85.000 STRIKE PUT 01/2 Opt (P) 459200101 275,000 500 X
------------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 100,699,522
------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
---------------------------------------------
(SEC USE ONLY)
--------------------------------------------------------------------------------------------
Item 8:
Item 7: Voting Authority (Shares)
Managers ---------------------------------------------
See Instr. V (a) Sole (b) Shared (c) None
--------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
HNC SOFTWARE, INC. 4.75% n/a n/a
--------------------------------------------------------------------------------------------
HNCS 85.000 STRIKE PUT 07/ n/a n/a
--------------------------------------------------------------------------------------------
HOLLYWOOD ENTMT CORP n/a X
--------------------------------------------------------------------------------------------
HONEYWELL INTERNATIONAL n/a X
--------------------------------------------------------------------------------------------
HOUSEHOLD INTL INC n/a X
--------------------------------------------------------------------------------------------
HOUSTON INTO TIME WARNER n/a n/a
--------------------------------------------------------------------------------------------
HRC 25.000 STRIKE PUT 01/2 n/a n/a
--------------------------------------------------------------------------------------------
HUMAN GENOME SCI. 5% 12/15 n/a n/a
--------------------------------------------------------------------------------------------
HUMAN GENOME SCIENCES n/a X
--------------------------------------------------------------------------------------------
IBM n/a X
--------------------------------------------------------------------------------------------
IBM 100.00 STRIKE PUT 01/2 n/a n/a
--------------------------------------------------------------------------------------------
IBM 105.00 STRIKE PUT 01/2 n/a n/a
--------------------------------------------------------------------------------------------
IBM 70.000 STRIKE PUT 01/2 n/a n/a
--------------------------------------------------------------------------------------------
IBM 85.000 STRIKE PUT 01/2 n/a n/a
--------------------------------------------------------------------------------------------
COLUMN TOTALS
--------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
Page 20 of 40
-- --
<TABLE>
<CAPTION>
FORM 13F
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 Class CUSIP Fair Market Shares of (b) Shared Managers
Number Value Principal (a) Sole As Defined (c) Shared- See Instr. V
Amount in Instr. V Other
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
IBM 90.000 STRIKE PUT 01/1 Opt (P) 459200101 981,250 1,000 X n/a
------------------------------------------------------------------------------------------------------------------------------------
IDEC PHARMACEUTICALS 0% CB CB 449370AA3 11,288,950 8,475 X n/a
------------------------------------------------------------------------------------------------------------------------------------
IDPH 50.00 STRIKE CALL 01/ Opt (C) 449370105 2,431,250 500 X n/a
------------------------------------------------------------------------------------------------------------------------------------
ILLINOIS TOOL WKS INC Cmn 452308109 7,992,644 118,300 X n/a
------------------------------------------------------------------------------------------------------------------------------------
IMAX CORP 5.75% DUE 4/1/20 CB U45090AA2 3,958,447 3,000 X n/a
------------------------------------------------------------------------------------------------------------------------------------
IN FOCUS SYSTEMS INC Cmn 452919103 811,563 35,000 X n/a
------------------------------------------------------------------------------------------------------------------------------------
INGERSOLL-RAND 6.75% DP Pfd 456867209 9,554,363 367,900 X n/a
------------------------------------------------------------------------------------------------------------------------------------
INTC 65.000 STRIKE PUT 01/ Opt (P) 458140100 752,500 1,400 X n/a
------------------------------------------------------------------------------------------------------------------------------------
INTEGRATED SILICON SOLUTIONS Cmn 45812P107 579,688 35,000 X n/a
------------------------------------------------------------------------------------------------------------------------------------
INTEL CORP 4% REG CB CB 527295AC3 5,344,178 2,000 X n/a
------------------------------------------------------------------------------------------------------------------------------------
INTELECT COMMUNICATIONS Cmn 458144102 676,800 1,640,727 X n/a
------------------------------------------------------------------------------------------------------------------------------------
INTERDIGITAL $5.75 STRIKE Wt 45866A105 346,250 5,000 X n/a
------------------------------------------------------------------------------------------------------------------------------------
INTEREPUBLIC GRP Cmn 460690100 6,691,750 116,000 X n/a
------------------------------------------------------------------------------------------------------------------------------------
INTERLIANT INC Cmn 458742103 390,000 15,000 X n/a
------------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 51,799,632
-----------------------------------------------------------------------------------------------------------------------------------
--------------------------------------
(SEC USE ONLY)
-------------------------------------------------------------------------
Item 1: Item 8:
Voting Authority (Shares)
--------------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
-------------------------------------------------------------------------
<S> <C> <C> <C>
IBM 90.000 STRIKE PUT 01/1 n/a
-------------------------------------------------------------------------
IDEC PHARMACEUTICALS 0% CB n/a
-------------------------------------------------------------------------
IDPH 50.00 STRIKE CALL 01/ n/a
-------------------------------------------------------------------------
ILLINOIS TOOL WKS INC X
-------------------------------------------------------------------------
IMAX CORP 5.75% DUE 4/1/20 n/a
-------------------------------------------------------------------------
IN FOCUS SYSTEMS INC X
-------------------------------------------------------------------------
INGERSOLL-RAND 6.75% DP n/a
-------------------------------------------------------------------------
INTC 65.000 STRIKE PUT 01/ n/a
-------------------------------------------------------------------------
INTEGRATED SILICON SOLUTIONS X
-------------------------------------------------------------------------
INTEL CORP 4% REG CB n/a
-------------------------------------------------------------------------
INTELECT COMMUNICATIONS X
-------------------------------------------------------------------------
INTERDIGITAL $5.75 STRIKE n/a
-------------------------------------------------------------------------
INTEREPUBLIC GRP X
-------------------------------------------------------------------------
INTERLIANT INC X
-------------------------------------------------------------------------
COLUMN TOTALS
-------------------------------------------------------------------------
</TABLE>
<PAGE>
Page 21 of 40
-- --
<TABLE>
<CAPTION>
FORM 13F
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 Class CUSIP Fair Market Shares of (b) Shared Managers
Number Value Principal (a) Sole As Defined (c) Shared- See Instr. V
Amount in Instr. V Other
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
INTERNET CAP GP 5.5% CB CB 46059CAA4 84,369,418 57,289 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
JONES APPAREL GROUP INC Cmn 480074103 1,942,150 71,600 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
JP MORGAN 'COMPS' - Pfd 46623N208 51,046,175 1,935,400 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
K MART CORP Cmn 482584109 1,857,538 184,600 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
KAUFMAN & BROAD 8.25% Pfd 486168503 2,940,625 376,400 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
KELLOGG CO Cmn 487836108 924,375 30,000 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
KERR MCGEE CORP Cmn 492386107 5,499,400 88,700 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
KEY ENERGY GROUP INC Cmn 492914106 1,504,375 290,000 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
KIMBERLY CLARK CORP Cmn 494368103 12,236,813 187,000 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
KM 12.500 STRIKE PUT 01/22 Opt (P) 482584109 487,500 1,950 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
KNIGHT RIDDER INC Cmn 499040103 2,930,475 49,200 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
KOHLS CORP Cmn 500255104 1,126,125 15,600 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
KULICKE AND SOFFA IND. Cmn 501242101 5,107,500 120,000 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
LAIDLAW INC 11.500% 04/15 CB 398048AH1 4,428,000 4,100 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 176,400,468
-----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------
(SEC USE ONLY)
-------------------------------------------------------------------------
Item 1: Item 8:
Voting Authority (Shares)
--------------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
-------------------------------------------------------------------------
<S> <C> <C> <C>
INTERNET CAP GP 5.5% CB n/a
-------------------------------------------------------------------------
JONES APPAREL GROUP INC X
-------------------------------------------------------------------------
JP MORGAN 'COMPS' - n/a
-------------------------------------------------------------------------
K MART CORP X
-------------------------------------------------------------------------
KAUFMAN & BROAD 8.25% n/a
-------------------------------------------------------------------------
KELLOGG CO X
-------------------------------------------------------------------------
KERR MCGEE CORP X
-------------------------------------------------------------------------
KEY ENERGY GROUP INC X
-------------------------------------------------------------------------
KIMBERLY CLARK CORP X
-------------------------------------------------------------------------
KM 12.500 STRIKE PUT 01/22 n/a
-------------------------------------------------------------------------
KNIGHT RIDDER INC X
-------------------------------------------------------------------------
KOHLS CORP X
-------------------------------------------------------------------------
KULICKE AND SOFFA IND. X
-------------------------------------------------------------------------
LAIDLAW INC 11.500% 04/15 n/a
-------------------------------------------------------------------------
COLUMN TOTALS
-------------------------------------------------------------------------
</TABLE>
<PAGE>
Page 22 of 40
-- --
<TABLE>
<CAPTION>
FORM 13F
Name of Reporting Manager Citadel Limited Partnership
------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion
----------------------------------
Name of Issuer Title of Class CUSIP Fair Market Shares of (b) Shared
Number Value Principal (a) Sole As Defined (c) Shared-
Amount in Instr. V Other
------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
LAM RESEARCH 5% CB CB 512807AC2 54,374,187 39,339 X
------------------------------------------------------------------------------------------------------------------------
LANIER WORLDWIDE INC Cmn 51589L105 3,682,025 950,200 X
------------------------------------------------------------------------------------------------------------------------
LATTICE SEMICONDUCTOR Cmn 518415104 278,038 5,900 X
------------------------------------------------------------------------------------------------------------------------
LEGG MASON Cmn 524901105 1,083,875 29,900 X
------------------------------------------------------------------------------------------------------------------------
LEVEL THREE 6% CB CB 52729NAG5 19,497,587 13,875 X
------------------------------------------------------------------------------------------------------------------------
LHSP 40.000 STRIKE PUT 03/ Opt (P) BE0157285488 531,875 2,300 X
------------------------------------------------------------------------------------------------------------------------
LHSP 45.000 STRIKE PUT 06/ Opt (P) BE0157285488 681,250 1,000 X
------------------------------------------------------------------------------------------------------------------------
LHSP 50.000 STRIKE PUT 06/ Opt (P) BE0157285488 490,625 500 X
------------------------------------------------------------------------------------------------------------------------
LIMITED INC Cmn 532716107 6,804,394 157,100 X
------------------------------------------------------------------------------------------------------------------------
LINENS N THINGS INC Cmn 535679104 296,250 10,000 X
------------------------------------------------------------------------------------------------------------------------
LIZ CLAIBORNE INC Cmn 539320101 906,763 24,100 X
------------------------------------------------------------------------------------------------------------------------
LOEWS/DIAMOND OFFSHORE 3.1 CB 540424AL2 11,858,285 14,477 X
------------------------------------------------------------------------------------------------------------------------
LORAL SPACE & COMM 6%Pfd Pfd G56462149 26,915,919 431,133 X
------------------------------------------------------------------------------------------------------------------------
LSI 15.000 STRIKE PUT 01/2 Opt (P) 502161102 237,500 2,000 X
------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 127,638,571
------------------------------------------------------------------------------------------------------------------------
<CAPTION>
---------------------------------------
(SEC USE ONLY)
--------------------------------------------------------------------------------
Item 8:
Item 1: Item 7: Voting Authority (Shares)
---------------------------------------
Name of Issuer Managers
See Instr. V (a) Sole (b) Shared (c) None
--------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
LAM RESEARCH 5% CB n/a n/a
--------------------------------------------------------------------------------
LANIER WORLDWIDE INC n/a X
--------------------------------------------------------------------------------
LATTICE SEMICONDUCTOR n/a X
--------------------------------------------------------------------------------
LEGG MASON n/a X
--------------------------------------------------------------------------------
LEVEL THREE 6% CB n/a n/a
--------------------------------------------------------------------------------
LHSP 40.000 STRIKE PUT 03/ n/a n/a
--------------------------------------------------------------------------------
LHSP 45.000 STRIKE PUT 06/ n/a n/a
--------------------------------------------------------------------------------
LHSP 50.000 STRIKE PUT 06/ n/a n/a
--------------------------------------------------------------------------------
LIMITED INC n/a X
--------------------------------------------------------------------------------
LINENS N THINGS INC n/a X
--------------------------------------------------------------------------------
LIZ CLAIBORNE INC n/a X
--------------------------------------------------------------------------------
LOEWS/DIAMOND OFFSHORE 3.1 n/a n/a
--------------------------------------------------------------------------------
LORAL SPACE & COMM 6%Pfd n/a n/a
--------------------------------------------------------------------------------
LSI 15.000 STRIKE PUT 01/2 n/a n/a
--------------------------------------------------------------------------------
COLUMN TOTALS
--------------------------------------------------------------------------------
</TABLE>
<PAGE>
Page 23 of 40
-- --
<TABLE>
<CAPTION>
FORM 13F
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 Class CUSIP Fair Market Shares of (b) Shared Managers
Number Value Principal (a) Sole As Defined (c) Shared- See Instr. V
Amount in Instr. V Other
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
LUBRIZOL CORP Cmn 549271104 802,750 26,000 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
LUCENT TECHNOLOGIES INC Cmn 549463107 2,302,500 30,700 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
LVLT 45.000 STRIKE PUT 01/ Opt (P) 52729N100 293,750 1,000 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
LVLT 60.000 STRIKE PUT 01/ Opt (P) 52729N100 562,500 750 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
MAGNA INTERNATIONAL Cmn 559222401 1,038,188 24,500 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
MAIL-WELL, INC. 5% CB CB 560321AD3 1,480,050 1,578 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
MARKEL CORP Cmn 570535104 2,960,500 19,100 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
MAT 20.000 STRIKE PUT 1/20 Opt (P) 577081102 367,500 500 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
MAT 25.000 STRIKE PUT 1/22 Opt (P) 577081102 427,500 300 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
MATTEL INC Cmn 577081102 1,420,781 108,250 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
MAY DEPT STORES CO Cmn 577778103 2,418,750 75,000 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
MAYTAG CORPORATION Cmn 578592107 1,075,200 22,400 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
MCCLATCHY COMPANY -CL A Cmn 579489105 216,250 5,000 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
MCI WORLDCOM INC Cmn 55268B106 6,193,667 116,724 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 21,559,886
-----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
---------------------------------------
(SEC USE ONLY)
--------------------------------------------------------------------
Item 8:
Item 1: Voting Authority (Shares)
---------------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
--------------------------------------------------------------------
<S> <C> <C> <C>
LUBRIZOL CORP X
--------------------------------------------------------------------
LUCENT TECHNOLOGIES INC X
--------------------------------------------------------------------
LVLT 45.000 STRIKE PUT 01/ n/a
--------------------------------------------------------------------
LVLT 60.000 STRIKE PUT 01/ n/a
--------------------------------------------------------------------
MAGNA INTERNATIONAL X
--------------------------------------------------------------------
MAIL-WELL, INC. 5% CB n/a
--------------------------------------------------------------------
MARKEL CORP X
--------------------------------------------------------------------
MAT 20.000 STRIKE PUT 1/20 n/a
--------------------------------------------------------------------
MAT 25.000 STRIKE PUT 1/22 n/a
--------------------------------------------------------------------
MATTEL INC X
--------------------------------------------------------------------
MAY DEPT STORES CO X
--------------------------------------------------------------------
MAYTAG CORPORATION X
--------------------------------------------------------------------
MCCLATCHY COMPANY -CL A X
--------------------------------------------------------------------
MCI WORLDCOM INC X
--------------------------------------------------------------------
COLUMN TOTALS
--------------------------------------------------------------------
</TABLE>
<PAGE>
Page 24 of 40
-- --
<TABLE>
<CAPTION>
FORM 13F
Name of Reporting Manager Citadel Limited Partnership
-------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion
--------------------------------------
Name of Issuer Title of Class CUSIP Fair Maket Shares of (b) Shared
Number Value Principal (a) Sole As Defined (c) Shared-
Amount in Instr. V Other
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
McLeodUSA Inc. 6.75% Pfd Pfd 582266201 18,844,789 35,500 X
-------------------------------------------------------------------------------------------------------------------------------
MDSI MOBILE DATA SOLUTIONS Cmn 55268N100 1,604,225 62,300 X
-------------------------------------------------------------------------------------------------------------------------------
MEDIAONE GROUP 6.25% MAND Pfd 58440J401 183,685,740 1,722,000 X
-------------------------------------------------------------------------------------------------------------------------------
MEDIAONE GROUP 7.00% MAND. Pfd 58440J500 32,729,107 697,700 X
-------------------------------------------------------------------------------------------------------------------------------
MEDIAONE GROUP INC. Cmn 58440J104 88,365,100 1,150,400 X
-------------------------------------------------------------------------------------------------------------------------------
MEDICAL MANAGER 5% CB 2/15 CB 58461UAA1 16,692,564 11,815 X
-------------------------------------------------------------------------------------------------------------------------------
MEDTRONIC INC Cmn 585055106 746,969 20,500 X
-------------------------------------------------------------------------------------------------------------------------------
MERCK & CO Cmn 589331107 10,803,750 160,800 X
-------------------------------------------------------------------------------------------------------------------------------
MERRILL LYNCH (IMC GLOBAL) Cmn 590188751 5,014,800 278,600 X
-------------------------------------------------------------------------------------------------------------------------------
METROMEDIA FIBER NETWORK 6 Pfd 24366Q209 26,105,184 579,600 X
-------------------------------------------------------------------------------------------------------------------------------
MFNX 25.000 STRIKE PUT 01/ Opt (P) 591689104 208,000 520 X
-------------------------------------------------------------------------------------------------------------------------------
MGIC INV CORP Cmn 552848103 5,452,988 90,600 X
-------------------------------------------------------------------------------------------------------------------------------
MICHAEL STORES Cmn 594087108 900,600 31,600 X
-------------------------------------------------------------------------------------------------------------------------------
MICROCHIP TECHNOLOGY INC Cmn 595017104 1,238,719 18,100 X
-------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 392,392,533
-------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
--------------------------------------------
(SEC USE ONLY)
--------------------------------------------------------------------------------------------------------------
Item 1: Item 7: Item 8:
Name of Issuer Managers Voting Authority (Shares)
--------------------------------------------
See Instr. V (a) Sole (b) Shared (c) None
--------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
McLeodUSA Inc. 6.75% Pfd n/a n/a
--------------------------------------------------------------------------------------------------------------
MDSI MOBILE DATA SOLUTIONS n/a X
--------------------------------------------------------------------------------------------------------------
MEDIAONE GROUP 6.25% MAND n/a n/a
--------------------------------------------------------------------------------------------------------------
MEDIAONE GROUP 7.00% MAND. n/a n/a
--------------------------------------------------------------------------------------------------------------
MEDIAONE GROUP INC. n/a X
--------------------------------------------------------------------------------------------------------------
MEDICAL MANAGER 5% CB 2/15 n/a n/a
--------------------------------------------------------------------------------------------------------------
MEDTRONIC INC n/a X
--------------------------------------------------------------------------------------------------------------
MERCK & CO n/a X
--------------------------------------------------------------------------------------------------------------
MERRILL LYNCH (IMC GLOBAL) n/a X
--------------------------------------------------------------------------------------------------------------
METROMEDIA FIBER NETWORK 6 n/a n/a
--------------------------------------------------------------------------------------------------------------
MFNX 25.000 STRIKE PUT 01/ n/a n/a
--------------------------------------------------------------------------------------------------------------
MGIC INV CORP n/a X
--------------------------------------------------------------------------------------------------------------
MICHAEL STORES n/a X
--------------------------------------------------------------------------------------------------------------
MICROCHIP TECHNOLOGY INC n/a X
--------------------------------------------------------------------------------------------------------------
COLUMN TOTALS
--------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
Page 25 of 40
-- --
<TABLE>
<CAPTION>
FORM 13F
Name of Reporting Manager Citadel Limited Partnership
-------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion
--------------------------------------
Name of Issuer Title of Class CUSIP Fair Maket Shares of (b) Shared
Number Value Principal (a) Sole As Defined (c) Shared-
Amount in Instr. V Other
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
MICRON TECHNOLOGY INC Cmn 595112103 4,789,063 61,300 X
-------------------------------------------------------------------------------------------------------------------------------
MICROSOFT Cmn 594918104 8,581,125 73,500 X
-------------------------------------------------------------------------------------------------------------------------------
MIDAMERICAN ENERGY HLDGS Cmn 595920109 58,087,356 1,724,300 X
-------------------------------------------------------------------------------------------------------------------------------
MIDWAY GAMES INC Cmn 598148104 478,750 20,000 X
-------------------------------------------------------------------------------------------------------------------------------
MINNESOTA MNG & MFG CO Cmn 604059105 1,331,100 13,600 X
-------------------------------------------------------------------------------------------------------------------------------
MORGAN J P & CO INC Cmn 616880100 12,510,550 98,800 X
-------------------------------------------------------------------------------------------------------------------------------
MORGAN STANLEY DEAN WITTER Cmn 617446448 13,004,525 91,100 X
-------------------------------------------------------------------------------------------------------------------------------
MOT 110.00. STRIKE PUT 01/2 Opt (P) 620076109 1,093,750 1,250 X
-------------------------------------------------------------------------------------------------------------------------------
MOT 95.000 STRIKE PUT 01/2 Opt (P) 620076109 556,250 1,000 X
-------------------------------------------------------------------------------------------------------------------------------
MRV COMMUNICATIONS 5% 6/15 CB 553477AB6 53,677,375 22,601 X
-------------------------------------------------------------------------------------------------------------------------------
MSFT 75.000 STRIKE PUT 01/ Opt (P) 594918104 362,500 2,000 X
-------------------------------------------------------------------------------------------------------------------------------
MSFT 80.000 STRIKE PUT 01/ Opt (P) 594918104 256,250 1,000 X
-------------------------------------------------------------------------------------------------------------------------------
MU 40.000 STRIKE PUT 01/ Opt (P) 595112103 260,000 800 X
-------------------------------------------------------------------------------------------------------------------------------
MU 50.000 STRIKE PUT 01/20 Opt (P) 595112103 1,212,500 2,000 X
-------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 156,201,094
-------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
--------------------------------------------
(SEC USE ONLY)
--------------------------------------------------------------------------------------------------------------
Item 1: Item 7: Item 8:
Name of Issuer Managers Voting Authority (Shares)
--------------------------------------------
See Instr. V (a) Sole (b) Shared (c) None
--------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
MICRON TECHNOLOGY INC n/a X
--------------------------------------------------------------------------------------------------------------
MICROSOFT n/a X
--------------------------------------------------------------------------------------------------------------
MIDAMERICAN ENERGY HLDGS n/a X
--------------------------------------------------------------------------------------------------------------
MIDWAY GAMES INC n/a X
--------------------------------------------------------------------------------------------------------------
MINNESOTA MNG & MFG CO n/a X
--------------------------------------------------------------------------------------------------------------
MORGAN J P & CO INC n/a X
--------------------------------------------------------------------------------------------------------------
MORGAN STANLEY DEAN WITTER n/a X
--------------------------------------------------------------------------------------------------------------
MOT 110.00. STRIKE PUT 01/2 n/a n/a
--------------------------------------------------------------------------------------------------------------
MOT 95.000 STRIKE PUT 01/2 n/a n/a
--------------------------------------------------------------------------------------------------------------
MRV COMMUNICATIONS 5% 6/15 n/a n/a
--------------------------------------------------------------------------------------------------------------
MSFT 75.000 STRIKE PUT 01/ n/a n/a
--------------------------------------------------------------------------------------------------------------
MSFT 80.000 STRIKE PUT 01/ n/a n/a
--------------------------------------------------------------------------------------------------------------
MU 40.000 STRIKE PUT 01/ n/a n/a
--------------------------------------------------------------------------------------------------------------
MU 50.000 STRIKE PUT 01/20 n/a n/a
--------------------------------------------------------------------------------------------------------------
COLUMN TOTALS
--------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
Page 26 of 40
-- --
<TABLE>
<CAPTION>
FORM 13F
Name of Reporting Manager Citadel Limited Partnership
-------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion
--------------------------------------
Name of Issuer Title of Class CUSIP Fair Maket Shares of (b) Shared
Number Value Principal (a) Sole As Defined (c) Shared-
Amount in Instr. V Other
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
MU 60.000 STRIKE PUT 01/20 Opt (P) 595112103 993,750 1,000 X
-------------------------------------------------------------------------------------------------------------------------------
MU 65.000 STRIKE PUT 07/22 Opt (P) 595112103 258,750 300 X
-------------------------------------------------------------------------------------------------------------------------------
NABORS INDUSTRIES Cmn 629568106 232,031 7,500 X
-------------------------------------------------------------------------------------------------------------------------------
NASDAQ-100 160.00 STRIKE P Opt (P) 631100104 468,750 750 X
-------------------------------------------------------------------------------------------------------------------------------
NATIONAL SEMICONDUCTOR Cmn 637640103 9,089,094 212,300 X
-------------------------------------------------------------------------------------------------------------------------------
NCL HOLDING ASA - SPON ADR Cmn 628853103 176,531 10,500 X
-------------------------------------------------------------------------------------------------------------------------------
NCS HEALTHCARE 5.75% CB 628874AC3 3,061,250 9,875 X
-------------------------------------------------------------------------------------------------------------------------------
NCSS 7.5000 STRIKE PUT 01/ Opt (P) 628874AC3 259,375 500 X
-------------------------------------------------------------------------------------------------------------------------------
NETA 30.000 STRIKE PUT 01/ Opt (P) 640938AB2 679,688 750 X
-------------------------------------------------------------------------------------------------------------------------------
NETA 40.000 STRIKE PUT 01/ Opt (P) 640938AB2 4,078,125 2,500 X
-------------------------------------------------------------------------------------------------------------------------------
NETA 45.000 STRIKE PUT 01/ Opt (P) 640938AB2 274,688 150 X
-------------------------------------------------------------------------------------------------------------------------------
NETA 45.000 STRIKE PUT 01/ Opt (P) 640938AB2 1,021,875 500 X
-------------------------------------------------------------------------------------------------------------------------------
NETWORK ASSOC. 0% OID CB 640938AB2 23,074,953 62,650 X
-------------------------------------------------------------------------------------------------------------------------------
NEWBRIDGE NETWORKS CORP Cmn 650901101 1,703,469 75,500 X
-------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 45,372,328
-------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
--------------------------------------------
(SEC USE ONLY)
--------------------------------------------------------------------------------------------------------------
Item 1: Item 7: Item 8:
Name of Issuer Managers Voting Authority (Shares)
--------------------------------------------
See Instr. V (a) Sole (b) Shared (c) None
--------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
MU 60.000 STRIKE PUT 01/20 n/a n/a
--------------------------------------------------------------------------------------------------------------
MU 65.000 STRIKE PUT 07/22 n/a n/a
--------------------------------------------------------------------------------------------------------------
NABORS INDUSTRIES n/a X
--------------------------------------------------------------------------------------------------------------
NASDAQ-100 160.00 STRIKE P n/a n/a
--------------------------------------------------------------------------------------------------------------
NATIONAL SEMICONDUCTOR n/a X
--------------------------------------------------------------------------------------------------------------
NCL HOLDING ASA - SPON ADR n/a X
--------------------------------------------------------------------------------------------------------------
NCS HEALTHCARE 5.75% n/a n/a
--------------------------------------------------------------------------------------------------------------
NCSS 7.5000 STRIKE PUT 01/ n/a n/a
--------------------------------------------------------------------------------------------------------------
NETA 30.000 STRIKE PUT 01/ n/a n/a
--------------------------------------------------------------------------------------------------------------
NETA 40.000 STRIKE PUT 01/ n/a n/a
--------------------------------------------------------------------------------------------------------------
NETA 45.000 STRIKE PUT 01/ n/a n/a
--------------------------------------------------------------------------------------------------------------
NETA 45.000 STRIKE PUT 01/ n/a n/a
--------------------------------------------------------------------------------------------------------------
NETWORK ASSOC. 0% OID n/a n/a
--------------------------------------------------------------------------------------------------------------
NEWBRIDGE NETWORKS CORP n/a X
--------------------------------------------------------------------------------------------------------------
COLUMN TOTALS
--------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
Page 27 of 40
-- --
<TABLE>
<CAPTION>
FORM 13F
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 Class CUSIP Fair Market Shares of (b) Shared Managers
Number Value Principal (a) Sole As Defined (c) Shared- See Instr. V
Amount in Instr. V Other
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
NEWELL RUBBERMAID INC Cmn 651229106 5,968,200 205,800 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
NEXTEL COMMUNICATIONS Cmn 65332V103 1,366,406 13,250 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
NFRONT INC Cmn 65334N109 4,270,000 213,500 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
NFX 6.5% MIPS DUE 8/15/29 Pfd 651291205 1,610,251 34,000 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
NISOURCE INC. 7.75% PIES D Pfd 65473P303 2,818,700 79,400 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
NORDSTROM INC Cmn 655664100 3,710,063 141,000 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
NORTEL INVERSORA 10% Pfd Pfd 656567302 10,658,862 178,900 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
NORTH FORK BANCORP Cmn 659424105 1,403,900 80,800 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
NTL INCORPORATED Cmn 629407107 1,992,881 15,975 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
NTL INCORPORATED 7% CB CB 629407AL1 4,220,717 1,600 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
NTLI 110.00 STRIKE PUT 03/ Opt (P) 629407AL1 331,250 500 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
NTLI 115.00 STRIKE PUT 03/ Opt (P) 629407AL1 397,813 475 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
NUCOR CORP Cmn 670346105 3,573,775 65,200 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
NXTL 70.000 STRIKE PUT 01/ Opt (P) 65332V103 381,500 560 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 42,704,317
-----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
----------------------------------
Item 1: Item 8:
Name of Issuer Voting Authority (Shares)
----------------------------------
(a) Sole (b) Shared (c) None
------------------------------------------------------------------------------
<S> <C> <C> <C>
NEWELL RUBBERMAID INC X
------------------------------------------------------------------------------
NEXTEL COMMUNICATIONS X
------------------------------------------------------------------------------
NFRONT INC X
------------------------------------------------------------------------------
NFX 6.5% MIPS DUE 8/15/29 n/a
------------------------------------------------------------------------------
NISOURCE INC. 7.75% PIES D n/a
------------------------------------------------------------------------------
NORDSTROM INC X
------------------------------------------------------------------------------
NORTEL INVERSORA 10% Pfd n/a
------------------------------------------------------------------------------
NORTH FORK BANCORP X
------------------------------------------------------------------------------
NTL INCORPORATED X
------------------------------------------------------------------------------
NTL INCORPORATED 7% CB n/a
------------------------------------------------------------------------------
NTLI 110.00 STRIKE PUT 03/ n/a
------------------------------------------------------------------------------
NTLI 115.00 STRIKE PUT 03/ n/a
------------------------------------------------------------------------------
NUCOR CORP X
------------------------------------------------------------------------------
COLUMN TOTALS
------------------------------------------------------------------------------
</TABLE>
<PAGE>
Page 28 of 40
-- --
<TABLE>
<CAPTION>
FORM 13F
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 Class CUSIP Fair Market Shares of (b) Shared Managers
Number Value Principal (a) Sole As Defined (c) Shared- See Instr. V
Amount in Instr. V Other
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
NXTL 75.000 STRIKE PUT 01/ Opt (P) 65332V103 409,375 500 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
ODP 16.625 STRIKE PUT 1/22 Opt (P) 676220106 220,313 250 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
OFFICE DEPOT Cmn 676220106 400,950 36,450 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
OMNICOM GROUP Cmn 681919106 4,400,000 44,000 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
OMNIPOINT CORP Cmn 68212D102 47,309,125 392,200 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
ONE 40.000 STRIKE PUT 02/1 Opt (P) 06423A103 806,250 1,000 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
ONE 55.000 STRIKE PUT 01/2 Opt (P) 06423A103 2,293,750 1,000 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
ONEOK INC Cmn 682680103 256,275 10,200 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
ON-LINE SOFTWARE INTL 6.25% CB 682180AA2 518,760 524 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
ORACLE SYS CORP Cmn 68389X105 2,174,013 19,400 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
ORB 15.000 STRIKE CALL 01/ Opt (C) 685564AC0 712,500 1,000 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
ORB 20.000 STRIKE PUT 01/2 Opt (P) 685564AC0 562,500 2,500 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
ORB 20.000 STRIKE PUT 03/1 Opt (P) 685564AC0 859,375 2,500 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
ORBITAL 5% CB DUE 10/1/02 CB 685564AC0 14,597,950 16,955 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 75,521,135
-----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
----------------------------------
Item 1: Item 8:
Name of Issuer Voting Authority (Shares)
----------------------------------
(a) Sole (b) Shared (c) None
------------------------------------------------------------------------------
<S> <C> <C> <C>
NXTL 75.000 STRIKE PUT 01/ n/a
------------------------------------------------------------------------------
ODP 16.625 STRIKE PUT 1/22 n/a
------------------------------------------------------------------------------
OFFICE DEPOT X
------------------------------------------------------------------------------
OMNICOM GROUP X
------------------------------------------------------------------------------
OMNIPOINT CORP X
------------------------------------------------------------------------------
ONE 40.000 STRIKE PUT 02/1 n/a
------------------------------------------------------------------------------
ONE 55.000 STRIKE PUT 01/2 n/a
------------------------------------------------------------------------------
ONEOK INC X
------------------------------------------------------------------------------
ON-LINE SOFTWARE INTL 6.25% n/a
------------------------------------------------------------------------------
ORACLE SYS CORP X
------------------------------------------------------------------------------
ORB 15.000 STRIKE CALL 01/ n/a
------------------------------------------------------------------------------
ORB 20.000 STRIKE PUT 01/2 n/a
------------------------------------------------------------------------------
ORB 20.000 STRIKE PUT 03/1 n/a
------------------------------------------------------------------------------
ORBITAL 5% CB DUE 10/1/02 n/a
------------------------------------------------------------------------------
COLUMN TOTALS
------------------------------------------------------------------------------
</TABLE>
<PAGE>
Page 29 of 40
-- --
<TABLE>
<CAPTION>
FORM 13F
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 Class CUSIP Fair Market Shares of (b) Shared Managers
Number Value Principal (a) Sole As Defined (c) Shared- See Instr. V
Amount in Instr. V Other
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ORCL 32.500 STRIKE PUT 01/ Opt (P) 68389X105 703,125 1,500 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
ORTEL CORP Cmn 68749W102 684,000 5,700 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
PAGING NETWORK INC 8.875% CB 695542AB6 330,000 1,000 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
PALL CORP Cmn 696429307 806,438 37,400 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
PARKER DRILLING CO Cmn 701081101 1,077,375 338,000 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
PAYCHEX INC Cmn 704326107 2,072,000 51,800 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
P-COM INC Cmn 693262107 106,125 12,000 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
PCS 30.000 STRIKE PUT 01/2 Opt (P) 852061506 256,875 1,370 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
PCS 35.000 STRIKE PUT 01/1 Opt (P) 852061506 560,000 800 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
PCS 40.000 STRIKE PUT 01/1 Opt (P) 852061506 1,037,500 1,000 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
PCS 40.000 STRIKE PUT 01/2 Opt (P) 852061506 525,000 750 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
PCS 45.000 STRIKE PUT 01/2 Opt (P) 852061506 262,500 250 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
PC-TEL INC Cmn 69325Q105 1,134,000 21,600 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
PECO ENERGY CO Cmn 693304107 2,498,525 71,900 X n/a
-----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 12,053,463
-----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
----------------------------------
Item 1: Item 8:
Name of Issuer Voting Authority (Shares)
----------------------------------
(a) Sole (b) Shared (c) None
------------------------------------------------------------------------------
<S> <C> <C> <C>
ORCL 32.500 STRIKE PUT 01/ n/a
------------------------------------------------------------------------------
ORTEL CORP X
------------------------------------------------------------------------------
PAGING NETWORK INC 8.875% n/a
------------------------------------------------------------------------------
PALL CORP X
------------------------------------------------------------------------------
PARKER DRILLING CO X
------------------------------------------------------------------------------
PAYCHEX INC X
------------------------------------------------------------------------------
P-COM INC X
------------------------------------------------------------------------------
PCS 30.000 STRIKE PUT 01/2 n/a
------------------------------------------------------------------------------
PCS 35.000 STRIKE PUT 01/1 n/a
------------------------------------------------------------------------------
PCS 40.000 STRIKE PUT 01/1 n/a
------------------------------------------------------------------------------
PCS 40.000 STRIKE PUT 01/2 n/a
------------------------------------------------------------------------------
PCS 45.000 STRIKE PUT 01/2 n/a
------------------------------------------------------------------------------
PC-TEL INC X
------------------------------------------------------------------------------
PECO ENERGY CO X
------------------------------------------------------------------------------
COLUMN TOTALS
------------------------------------------------------------------------------
</TABLE>
<PAGE>
Page 30 of 40
-- --
<TABLE>
<CAPTION>
FORM 13F
Name of Reporting Manager Citadel Limited Partnership
----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion
------------------------------------------
Name of Issuer Title of Class CUSIP Fair Market Shares of (b) Shared
Number Value Principal (a) Sole As Defined (c) Shared-
Amount in Instr. V Other
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
PEOPLESOFT INC 4.75% REG CB 922091AC7 2,441,752 2,842 X
----------------------------------------------------------------------------------------------------------------------------------
PHARMACIA AND UPJOHN Cmn 716941109 904,533 20,101 X
----------------------------------------------------------------------------------------------------------------------------------
PHARMACIA CORP Cmn 611662107 1,917,169 54,100 X
----------------------------------------------------------------------------------------------------------------------------------
PHILIP MORRIS COS INC Cmn 718154107 588,800 25,600 X
----------------------------------------------------------------------------------------------------------------------------------
PHOTRONICS, INC. 6% CB CB 719405AA0 2,343,727 2,000 X
----------------------------------------------------------------------------------------------------------------------------------
PILLOWTEX CORP 10% 11/15/22 CB 721501AB0 1,282,500 2,850 X
----------------------------------------------------------------------------------------------------------------------------------
PITNEY BOWES INC Cmn 724479100 2,381,806 49,300 X
----------------------------------------------------------------------------------------------------------------------------------
PIXTECH INC Cmn 72583K109 37,114 16,495 X
----------------------------------------------------------------------------------------------------------------------------------
PNC FINANCIAL SERVICES Cmn 693475105 5,010,700 112,600 X
----------------------------------------------------------------------------------------------------------------------------------
POGO PRODUCING CO 6.5% Pfd 73044P208 3,706,675 71,800 X
----------------------------------------------------------------------------------------------------------------------------------
PPL CORPORATION Cmn 69351T106 1,679,025 73,400 X
----------------------------------------------------------------------------------------------------------------------------------
PREMIER PARKS 7.5% 4/1/2000 Pfd 740540307 4,717,125 87,500 X
----------------------------------------------------------------------------------------------------------------------------------
PRICE COMMUNICATIONS Cmn 741437305 948,406 34,100 X
----------------------------------------------------------------------------------------------------------------------------------
PRIDE INTERNATIONAL INC Cmn 741932107 732,713 50,100 X
----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 28,692,044
----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
---------------------------------------
(SEC USE ONLY)
--------------------------------------------------------------------------------------------------
Item 8:
Item 7: Voting Authority (Shares)
---------------------------------------
Managers
See Instr. V (a) Sole (b) Shared (c) None
<S> <C> <C> <C> <C>
--------------------------------------------------------------------------------------------------
PEOPLESOFT INC 4.75% REG n/a n/a
--------------------------------------------------------------------------------------------------
PHARMACIA AND UPJOHN n/a X
--------------------------------------------------------------------------------------------------
PHARMACIA CORP n/a X
--------------------------------------------------------------------------------------------------
PHILIP MORRIS COS INC n/a X
--------------------------------------------------------------------------------------------------
PHOTRONICS, INC. 6% CB n/a n/a
--------------------------------------------------------------------------------------------------
PILLOWTEX CORP 10% 11/15/22 n/a n/a
--------------------------------------------------------------------------------------------------
PITNEY BOWES INC n/a X
--------------------------------------------------------------------------------------------------
PIXTECH INC n/a X
--------------------------------------------------------------------------------------------------
PNC FINANCIAL SERVICES n/a X
--------------------------------------------------------------------------------------------------
POGO PRODUCING CO 6.5% n/a n/a
--------------------------------------------------------------------------------------------------
PPL CORPORATION n/a X
--------------------------------------------------------------------------------------------------
PREMIER PARKS 7.5% 4/1/2000 n/a n/a
--------------------------------------------------------------------------------------------------
PRICE COMMUNICATIONS n/a X
--------------------------------------------------------------------------------------------------
PRIDE INTERNATIONAL INC n/a X
--------------------------------------------------------------------------------------------------
COLUMN TOTALS
--------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
Page 31 of 40
-- --
<TABLE>
<CAPTION>
FORM 13F
Name of Reporting Manager Citadel Limited Partnership
----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion
------------------------------------------
Name of Issuer Title of Class CUSIP Fair Market Shares of (b) Shared
Number Value Principal (a) Sole As Defined (c) Shared
Amount in Instr. V Other
---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
PROCTER & GAMBLE CO Cmn 742718109 6,168,369 56,300 X
----------------------------------------------------------------------------------------------------------------------------------
PUGET SOUND POWER & LIGHT Cmm 745332106 837,000 43,200 X
----------------------------------------------------------------------------------------------------------------------------------
QCOM 6.250 STRIKE PUT 01/2 Opt (P) 74752R402 300,000 8,000 X
----------------------------------------------------------------------------------------------------------------------------------
QCOM 72.50 STRIKE PUT 01/2 Opt (P) 74752R402 255,000 1,200 X
----------------------------------------------------------------------------------------------------------------------------------
QUALCOMM 5.75% Reg Pfd Pfd 74752R402 814,711,124 828,649 X
----------------------------------------------------------------------------------------------------------------------------------
QUINTUS CORP Cmn 748798105 367,000 8,000 X
----------------------------------------------------------------------------------------------------------------------------------
QWST 27.500 STRIKE PUT 04/ Opt (P) 74912109 300,000 4,000 X
----------------------------------------------------------------------------------------------------------------------------------
QWST 32.500 STRIKE PUT 04/ Opt (P) 74912109 487,500 4,000 X
----------------------------------------------------------------------------------------------------------------------------------
READERS DIGEST $1.9336 SER Pfd 755271202 14,174,426 519,400 X
----------------------------------------------------------------------------------------------------------------------------------
RES-CARE INC. 6% REG CB CB 760943AC4 20,008,800 25,011 X
----------------------------------------------------------------------------------------------------------------------------------
REVLON INC 8.625% CB 761519AN7 4,000,000 8,000 X
----------------------------------------------------------------------------------------------------------------------------------
RGS ENERGY GROUP INC Cmn 74956K104 419,475 20,400 X
----------------------------------------------------------------------------------------------------------------------------------
RII 12.500 STRIKE PUT 01/2 Opt (P) 760516104 400,000 1,000 X
----------------------------------------------------------------------------------------------------------------------------------
RITE AID CORP Cmn 767754104 1,356,138 121,900 X
----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 863,784,831
----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
---------------------------------------
(SEC USE ONLY)
------------------------------------------------------------------------------------------------------
Item 8:
Item 7: Voting Authority (Shares)
---------------------------------------
Managers
See Instr. V (a) Sole (b) Shared (c) None
------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
PROTER & GAMBLE CO n/a X
------------------------------------------------------------------------------------------------------
PUGET SOUND POWER & LIGHT n/a X
------------------------------------------------------------------------------------------------------
QCOM 6.250 STRIKE PUT 01/2 n/a n/a
------------------------------------------------------------------------------------------------------
QCOM 72.50 STRIKE PUT 01/2 n/a n/a
------------------------------------------------------------------------------------------------------
QUALCOMM 5.75% Reg Pfd n/a n/a
------------------------------------------------------------------------------------------------------
QUINTUS CORP n/a X
------------------------------------------------------------------------------------------------------
QWST 27.500 STRIKE PUT 04/ n/a n/a
------------------------------------------------------------------------------------------------------
QWST 32.500 STRIKE PUT 04/ n/a n/a
------------------------------------------------------------------------------------------------------
READERS DIGEST $1.9336 SER n/a n/a
------------------------------------------------------------------------------------------------------
RES-CARE INC. 6% REG CB n/a n/a
------------------------------------------------------------------------------------------------------
REVLON INC 8.625% n/a n/a
------------------------------------------------------------------------------------------------------
RGS ENERGY GROUP INC n/a X
------------------------------------------------------------------------------------------------------
RII 12.500 STRIKE PUT 01/2 n/a n/a
------------------------------------------------------------------------------------------------------
RITE AID CORP n/a X
------------------------------------------------------------------------------------------------------
COLUMN TOTALS
------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
Page 32 of 40
-- --
<TABLE>
<CAPTION>
FORM 13F
Name of Reporting Manager Citadel Limited Partnership
----------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion
------------------------------------------
Name of Issuer Title of Class CUSIP Fair Market Shares of (b) Shared
Number Value Principal (a) Sole As Defined (c) Shared-
Amount in Instr. V Other
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
ROSS STORES INC CMN 778296103 744,406 41,500 X
-----------------------------------------------------------------------------------------------------------------------------------
ROWAN COS INC Cmn 779382100 3,227,100 148,800 X
-----------------------------------------------------------------------------------------------------------------------------------
RUSSELL CORP Cmn 782352108 2,093,750 125,000 X
-----------------------------------------------------------------------------------------------------------------------------------
S&P 1250 PUT 3/16/2000 Opt (P) 0 534,375 500 X
-----------------------------------------------------------------------------------------------------------------------------------
SAFECO CORP Cmn 786429100 359,792 14,464 X
-----------------------------------------------------------------------------------------------------------------------------------
SAFEGUARD SCIENTIFICS 5% CB CB 786449AD0 2,488,091 1,100 X
-----------------------------------------------------------------------------------------------------------------------------------
SAFEWAY INC Cmn 786514208 682,825 19,100 X
----------------------------------------------------------------------------------------------------------------------------------
SALOMON (BROADWING INC) 6. Pfd 79549B867 8,020,680 71,200 X
-----------------------------------------------------------------------------------------------------------------------------------
SAMINA 4.25% CB CB 800907AB3 41,907,775 32,130 X
-----------------------------------------------------------------------------------------------------------------------------------
SANM 35.0 STRIKE PUT 04/22 Opt (P) 800907AB3 290,625 1,500 X
-----------------------------------------------------------------------------------------------------------------------------------
SANM 37.5 STRIKE PUT 07/22 Opt (P) 800907AB3 234,375 500 X
-----------------------------------------------------------------------------------------------------------------------------------
SANMINA 4.25% CB CB 800907AA5 1,133,699 870 X
-----------------------------------------------------------------------------------------------------------------------------------
SBC COMMUNICATIONS Cmn 78387G103 11,334,375 232,500 X
-----------------------------------------------------------------------------------------------------------------------------------
SCH 25.000 STRIKE PUT 01/2 Opt (P) 808513105 525,000 2,000 X
-----------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 73,576,868
-----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
---------------------------------------
(SEC USE ONLY)
--------------------------------------------------------------------------------------------------
Item 8:
Item 7: Voting Authority (Shares)
---------------------------------------
Managers
See Instr. V (a) Sole (b) Shared (c) None
--------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
ROSS STORES INC n/a X
---------------------------------------------------------------------------------------------------
ROWAN COS INC n/a X
---------------------------------------------------------------------------------------------------
RUSSELL CORP n/a X
---------------------------------------------------------------------------------------------------
S&P 1250 PUT 3/16/2000 n/a n/a
---------------------------------------------------------------------------------------------------
SAFECO CORP n/a X
---------------------------------------------------------------------------------------------------
SAFEGUARD SCIENTIFICS 5% CB n/a n/a
---------------------------------------------------------------------------------------------------
SAFEWAY INC n/a X
---------------------------------------------------------------------------------------------------
SALOMON (BROADWING INC) 6. n/a n/a
---------------------------------------------------------------------------------------------------
SAMINA 4.25% CB n/a n/a
---------------------------------------------------------------------------------------------------
SANM 35.0 STRIKE PUT 04/22 n/a n/a
---------------------------------------------------------------------------------------------------
SANM 37.5 STRIKE PUT 07/22 n/a n/a
---------------------------------------------------------------------------------------------------
SANMINA 4.25% CB n/a n/a
---------------------------------------------------------------------------------------------------
SBC COMMUNICATIONS n/a X
---------------------------------------------------------------------------------------------------
SCH 25.000 STRIKE PUT 01/2 n/a n/a
---------------------------------------------------------------------------------------------------
COLUMN TOTALS
---------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F
Page 33 of 40 Name of Reporting Manager Citadel Limited Partnership
-- --
------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion
--------------------------------------
Name of Issuer Title of Class CUSIP Fair Market Shares of (b) Shared
Number Value Principal (a) Sole As Defined (c) Shared-
Amount in Instr. V Other
------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
SCHERING PLOUGH CORP Cmn 806605101 8,843,663 208,700 X
------------------------------------------------------------------------------------------------------------------------------
SCHWAB CHARLES CORP Cmn 808513105 860,625 22,500 X
------------------------------------------------------------------------------------------------------------------------------
SCI SYSTEMS Cmn 783890106 1,125,969 13,700 X
------------------------------------------------------------------------------------------------------------------------------
SCIENTIFIC ATLANTA INC Cmn 808655104 8,587,988 153,700 X
------------------------------------------------------------------------------------------------------------------------------
SEACOR HLDGS INC Cmn 811904101 294,975 5,700 X
------------------------------------------------------------------------------------------------------------------------------
SEALED AIR CORP 4% CV PF Pfd 81211K209 22,124,974 445,625 X
------------------------------------------------------------------------------------------------------------------------------
SEARS ROEBUCK & CO Cmn 812387108 4,531,950 149,200 X
------------------------------------------------------------------------------------------------------------------------------
SEG 30.000 STRIKE CALL 01/ Opt (C) 811804103 1,582,875 938 X
------------------------------------------------------------------------------------------------------------------------------
SEPARCOR INC 7% CB CB 817315AH7 2,136,194 2,000 X
------------------------------------------------------------------------------------------------------------------------------
SEPR 30.000 STRIKE PUT 01/ Opt (P) 817315AH7 293,750 500 X
------------------------------------------------------------------------------------------------------------------------------
SEPR 37.500 STRIKE PUT 01/ Opt (P) 817315AH7 1,720,000 1,600 X
------------------------------------------------------------------------------------------------------------------------------
SEPRACOR INC Cmn 817315104 2,251,953 22,704 X
------------------------------------------------------------------------------------------------------------------------------
SHAMAN PHARMACEUTICALS Cmn 819319500 2,499 227,204 X
------------------------------------------------------------------------------------------------------------------------------
SHERWIN-WILLIAMS Cmn 824348106 220,500 10,500 X
------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 54,577,914
------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
--------------------------------------
(SEC USE ONLY)
------------------------------------------------------------------------------------
Item 8:
Item 1: Item 7: Voting Authority (Shares)
--------------------------------------
Name of Issuer Managers
See Instr. V (a) Sole (b) Shared (c) None
------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
SCHERING PLOUGH CORP n/a X
------------------------------------------------------------------------------------
SCHWAB CHARLES CORP n/a X
------------------------------------------------------------------------------------
SCI SYSTEMS n/a X
------------------------------------------------------------------------------------
SCIENTIFIC ATLANTA INC n/a X
------------------------------------------------------------------------------------
SEACOR HLDGS INC n/a X
------------------------------------------------------------------------------------
SEALED AIR CORP 4% CV PF n/a n/a
------------------------------------------------------------------------------------
SEARS ROEBUCK & CO n/a X
------------------------------------------------------------------------------------
SEG 30.000 STRIKE CALL 01/ n/a n/a
------------------------------------------------------------------------------------
SEPARCOR INC 7% CB n/a n/a
------------------------------------------------------------------------------------
SEPR 30.000 STRIKE PUT 01/ n/a n/a
------------------------------------------------------------------------------------
SEPR 37.500 STRIKE PUT 01/ n/a n/a
------------------------------------------------------------------------------------
SEPRACOR INC n/a X
------------------------------------------------------------------------------------
SHAMAN PHARMACEUTICALS n/a X
------------------------------------------------------------------------------------
SHERWIN-WILLIAMS n/a X
------------------------------------------------------------------------------------
COLUMN TOTALS
------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F
Page 34 of 40 Name of Reporting Manager Citadel Limited Partnership
-- --
------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion
--------------------------------------
Name of Issuer Title of Class CUSIP Fair Market Shares of (b) Shared
Number Value Principal (a) Sole As Defined (c) Shared-
Amount in Instr. V Other
------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
SILICON GRAPHICS Cmn 827056102 641,313 66,200 X
------------------------------------------------------------------------------------------------------------------------------
SILICON GRAPHICS 5.25% CB CB 827056AC6 1,122,414 1,500 X
------------------------------------------------------------------------------------------------------------------------------
SLM HOLDINGS Cmn 78442A109 3,515,200 83,200 X
------------------------------------------------------------------------------------------------------------------------------
SNAP ON INC Cmn 833034101 1,187,344 44,700 X
------------------------------------------------------------------------------------------------------------------------------
SNRZ 22.500 STRIKE PUT 04/ Opt (P) 86768K106 450,000 500 X
------------------------------------------------------------------------------------------------------------------------------
SOLECTRON CORP Cmn 834182107 12,689,675 133,400 X
------------------------------------------------------------------------------------------------------------------------------
SOTHEBY'S HOLDINGS -CL A Cmn 835898107 972,000 32,400 X
------------------------------------------------------------------------------------------------------------------------------
SOURCE MEDIA INC 12% 11/0 CB 836153AC0 2,622,000 4,600 X
------------------------------------------------------------------------------------------------------------------------------
SOUTHTRUST CORP Cmn 844730101 268,469 7,100 X
------------------------------------------------------------------------------------------------------------------------------
SOUTHWEST AIRLINES Cmn 844741108 2,804,138 173,900 X
------------------------------------------------------------------------------------------------------------------------------
SOVEREIGN BANCORP 7.5% CB Pfd 845905306 1,132,166 22,900 X
------------------------------------------------------------------------------------------------------------------------------
SPEEDWAY MOTORSPORTS 5.75% CB 847788AC0 2,875,635 2,750 X
------------------------------------------------------------------------------------------------------------------------------
SPX INDEX 1200 PUT 2/17/00 Opt (P) 249,375 700 X
------------------------------------------------------------------------------------------------------------------------------
SPX INDEX 1200 PUT 3/16/00 Opt (P) 635,625 900 X
------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 31,165,352
------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
--------------------------------------
(SEC USE ONLY)
------------------------------------------------------------------------------------
Item 8:
Item 1: Item 7: Voting Authority (Shares)
--------------------------------------
Name of Issuer Managers
See Instr. V (a) Sole (b) Shared (c) None
------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
SILICON GRAPHICS n/a X
------------------------------------------------------------------------------------
SILICON GRAPHICS 5.25% CB n/a n/a
------------------------------------------------------------------------------------
SLM HOLDINGS n/a X
------------------------------------------------------------------------------------
SNAP ON INC n/a X
------------------------------------------------------------------------------------
SNRZ 22.500 STRIKE PUT 04/ n/a n/a
------------------------------------------------------------------------------------
SOLECTRON CORP n/a X
------------------------------------------------------------------------------------
SOTHEBY'S HOLDINGS -CL A n/a X
------------------------------------------------------------------------------------
SOURCE MEDIA INC 12% 11/0 n/a n/a
------------------------------------------------------------------------------------
SOUTHTRUST CORP n/a X
------------------------------------------------------------------------------------
SOUTHWEST AIRLINES n/a X
------------------------------------------------------------------------------------
SOVEREIGN BANCORP 7.5% CB n/a n/a
------------------------------------------------------------------------------------
SPEEDWAY MOTORSPORTS 5.75% n/a n/a
------------------------------------------------------------------------------------
SPX INDEX 1200 PUT 2/17/00 n/a n/a
------------------------------------------------------------------------------------
SPX INDEX 1200 PUT 3/16/00 n/a n/a
------------------------------------------------------------------------------------
COLUMN TOTALS
------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F
Page 35 of 40 Name of Reporting Manager Citadel Limited Partnership
-- --
------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion
--------------------------------------
Name of Issuer Title of Class CUSIP Fair Market Shares of (b) Shared
Number Value Principal (a) Sole As Defined (c) Shared-
Amount in Instr. V Other
------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
SPX INDEX 1225 PUT 3/16/00 Opt (P) 342,500 400 X
------------------------------------------------------------------------------------------------------------------------------
SRCM 11.000 STRIKE 06/23/2 Wt 836153114 606,375 147,000 X
------------------------------------------------------------------------------------------------------------------------------
STAAR SURGICAL CO Cmn 852312305 234,000 24,000 X
------------------------------------------------------------------------------------------------------------------------------
STARBUCKS Cmn 855244109 746,900 30,800 X
------------------------------------------------------------------------------------------------------------------------------
STM ELECTRONICS 0% CB CB 861012AB8 55,186,431 40,000 X
------------------------------------------------------------------------------------------------------------------------------
STMICROELECTRONICS 0% CB CB 861012AA0 202,116,119 74,540 X
------------------------------------------------------------------------------------------------------------------------------
SUIZA FOODS 5.5% PFD Pfd 86507G408 5,022,350 146,875 X
------------------------------------------------------------------------------------------------------------------------------
SUMMIT BANCORP (NEW) Cmn 866005101 918,750 30,000 X
------------------------------------------------------------------------------------------------------------------------------
SUN HEALTHCARE GROUP 7% Pfd 866749203 - 900,700 X
------------------------------------------------------------------------------------------------------------------------------
SUN MICROSYSTEMS INC Cmn 866810104 2,065,645 26,675 X
------------------------------------------------------------------------------------------------------------------------------
SUNRISE ASSISTED LIVING Cmn 86768K106 658,625 47,900 X
------------------------------------------------------------------------------------------------------------------------------
SUNTRUST BKS INC Cmn 867914103 7,073,925 102,800 X
------------------------------------------------------------------------------------------------------------------------------
SUNW 35.000 STRIKE PUT 01/ Opt (P) 866810104 212,500 2,000 X
------------------------------------------------------------------------------------------------------------------------------
SUNW 42.500 STRIKE PUT 01/ Opt (P) 866810104 450,000 2,000 X
------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 275,634,120
------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
--------------------------------------
(SEC USE ONLY)
------------------------------------------------------------------------------------
Item 8:
Item 1: Item 7: Voting Authority (Shares)
--------------------------------------
Name of Issuer Managers
See Instr. V (a) Sole (b) Shared (c) None
------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
SPX INDEX 1225 PUT 3/16/00 n/a n/a
------------------------------------------------------------------------------------
SRCM 11.000 STRIKE 06/23/2 n/a n/a
------------------------------------------------------------------------------------
STAAR SURGICAL CO n/a X
------------------------------------------------------------------------------------
STARBUCKS n/a X
------------------------------------------------------------------------------------
STM ELECTRONICS 0% CB n/a n/a
------------------------------------------------------------------------------------
STMICROELECTRONICS 0% CB n/a n/a
------------------------------------------------------------------------------------
SUIZA FOODS 5.5% PFD n/a n/a
------------------------------------------------------------------------------------
SUMMIT BANCORP (NEW) n/a X
------------------------------------------------------------------------------------
SUN HEALTHCARE GROUP 7% n/a n/a
------------------------------------------------------------------------------------
SUN MICROSYSTEMS INC n/a X
------------------------------------------------------------------------------------
SUNRISE ASSISTED LIVING n/a X
------------------------------------------------------------------------------------
SUNTRUST BKS INC n/a X
------------------------------------------------------------------------------------
SUNW 35.000 STRIKE PUT 01/ n/a n/a
------------------------------------------------------------------------------------
SUNW 42.500 STRIKE PUT 01/ n/a n/a
------------------------------------------------------------------------------------
COLUMN TOTALS
------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Page 36 of 40 FORM 13F
-- -- 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 Class CUSIP Fair Market Shares of (b) Shared Managers
Number Value Principal (a) Sole As Defined (c) Shared- See Instr. V
Amount in Instr. V Other
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
SUPERVALU INC Cmn 868536103 600,000 30,000 X n/a
------------------------------------------------------------------------------------------------------------------------------------
SYMBOL TECHNOLOGIES Cmn 871508107 2,688,694 42,300 X n/a
------------------------------------------------------------------------------------------------------------------------------------
SYNOPSYS INC Cmn 871607107 521,651 7,815 X n/a
------------------------------------------------------------------------------------------------------------------------------------
SYQUEST TECHNOLOGY INC Cmn 871660106 103 25,000 X n/a
------------------------------------------------------------------------------------------------------------------------------------
SYSCO CORP Cmn 871829107 4,929,488 124,600 X n/a
------------------------------------------------------------------------------------------------------------------------------------
SYSTEM & COMPUTER TECH 5% CB 871873AB1 1,469,730 1,688 X n/a
------------------------------------------------------------------------------------------------------------------------------------
SYSTEMS AND COMPUTER TECH Cmn 871873105 1,147,900 70,640 X n/a
------------------------------------------------------------------------------------------------------------------------------------
TECNOMATIX TECH 5.25% REG CB 878732AD8 6,549,507 7,524 X n/a
------------------------------------------------------------------------------------------------------------------------------------
TELEBANC FINL CORP Cmn 87925R109 34,236,800 1,316,800 X n/a
------------------------------------------------------------------------------------------------------------------------------------
TELE-COMMUNICATIONS (TCI P) Pfd 872294202 19,540,447 62,000 X n/a
------------------------------------------------------------------------------------------------------------------------------------
TENNECO AUTOMOTIVE IN Cmn 880349105 815,775 87,600 X n/a
------------------------------------------------------------------------------------------------------------------------------------
TESORO PETROLEUM 7.25% CV Pfd 881609408 213,150 17,500 X n/a
------------------------------------------------------------------------------------------------------------------------------------
TEXAS INSTRUMENTS Cmn 882508104 11,981,500 124,000 X n/a
------------------------------------------------------------------------------------------------------------------------------------
THE ST JOE CO Cmn 790148100 362,256 14,900 X n/a
------------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 85,056,999
------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
----------------------------------
Item 8:
Item 1: Voting Authority (Shares)
----------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
----------------------------------
<S> <C> <C> <C>
SUPERVALU INC X
--------------------------------------------------------------
SYMBOL TECHNOLOGIES X
--------------------------------------------------------------
SYNOPSYS INC X
--------------------------------------------------------------
SYQUEST TECHNOLOGY INC X
--------------------------------------------------------------
SYSCO CORP X
--------------------------------------------------------------
SYSTEM & COMPUTER TECH 5% n/a
--------------------------------------------------------------
SYSTEMS AND COMPUTER TECH X
--------------------------------------------------------------
TECNOMATIX TECH 5.25% REG n/a
--------------------------------------------------------------
TELEBANC FINL CORP X
--------------------------------------------------------------
TELE-COMMUNICATIONS (TCI P) n/a
--------------------------------------------------------------
TENNECO AUTOMOTIVE IN X
--------------------------------------------------------------
TESORO PETROLEUM 7.25% CV n/a
--------------------------------------------------------------
TEXAS INSTRUMENTS X
--------------------------------------------------------------
THE ST JOE CO X
--------------------------------------------------------------
COLUMN TOTALS
--------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Page 37 of 40 FORM 13F
-- -- 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 Class CUSIP Fair Market Shares of (b) Shared Managers
Number Value Principal (a) Sole As Defined (c) Shared- See Instr. V
Amount in Instr. V Other
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
THERMEDICS INC 2.875% CB 883901AD2 2,076,120 2,628 X n/a
------------------------------------------------------------------------------------------------------------------------------------
THERMO CARDIOSYS 4.75% CB 88355KAA9 1,235,712 1,504 X n/a
------------------------------------------------------------------------------------------------------------------------------------
THERMO CARDIOSYSTEMS Cmn 88355K200 328,781 50,100 X n/a
------------------------------------------------------------------------------------------------------------------------------------
THERMO ELECTRON CORP Cmn 883556102 552,000 36,800 X n/a
------------------------------------------------------------------------------------------------------------------------------------
THERMO FIBERTEK 4.5% CB U8835NAA8 2,444,641 3,070 X n/a
------------------------------------------------------------------------------------------------------------------------------------
THERMO FIBERTEK 4.5% CB CB 88355WAA3 1,592,619 2,000 X n/a
------------------------------------------------------------------------------------------------------------------------------------
TIDEWATER Cmn 886423102 298,800 8,300 X n/a
------------------------------------------------------------------------------------------------------------------------------------
TITANIUM METALS 6.625% Pfd 887381408 707,456 57,900 X n/a
------------------------------------------------------------------------------------------------------------------------------------
TORCHMARK CORP Cmn 891027104 345,844 11,900 X n/a
------------------------------------------------------------------------------------------------------------------------------------
TOSCO CORP. Cmn 891490302 810,188 29,800 X n/a
------------------------------------------------------------------------------------------------------------------------------------
TOWER AUTOMOTIVE 5% CB CB 891707AE1 3,403,260 4,041 X n/a
------------------------------------------------------------------------------------------------------------------------------------
TOYS R US INC Cmn 892335100 1,890,681 132,100 X n/a
------------------------------------------------------------------------------------------------------------------------------------
TRIBUNE 2% EXCHG INTO AOL Pfd 896047305 60,261,474 382,200 X n/a
------------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 76,329,294
------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------
(SEC USE ONLY)
----------------------------------
Item 8:
Item 1: Voting Authority (Shares)
----------------------------------
Name of Issuer
(a) Sole (b) Shared (c) None
----------------------------------
<S> <C> <C> <C>
THERMEDICS INC 2.875% n/a
--------------------------------------------------------------
THERMO CARDIOSYS 4.75% n/a
--------------------------------------------------------------
THERMO CARDIOSYSTEMS X
--------------------------------------------------------------
THERMO ELECTRON CORP X
--------------------------------------------------------------
THERMO FIBERTEK 4.5% n/a
--------------------------------------------------------------
THERMO FIBERTEK 4.5% CB n/a
--------------------------------------------------------------
TIDEWATER X
--------------------------------------------------------------
TITANIUM METALS 6.625% n/a
--------------------------------------------------------------
TORCHMARK CORP X
--------------------------------------------------------------
TOSCO CORP. X
--------------------------------------------------------------
TOWER AUTOMOTIVE 5% CB n/a
--------------------------------------------------------------
TOWER SEMICONDUCTOR LTD X
--------------------------------------------------------------
TOYS R US INC X
--------------------------------------------------------------
TRIBUNE 2% EXCHG INTO AOL n/a
--------------------------------------------------------------
COLUMN TOTALS
--------------------------------------------------------------
</TABLE>
<PAGE>
PAGE 38 OF 40
-- --
<TABLE>
<CAPTION>
FORM 13F
Name of Reporting Manager Citadel limited Partnership
-------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion
--------------------------------------
Name of Issuer Title of Class CUSIP Fair Maket Shares of (b)Shared
Number Value Principal (a) Sole As Defined (c)Shared-
Amount in Instr. V Other
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
TRIBUNE CO Cmn 896047107 247,781 4,500 X
-------------------------------------------------------------------------------------------------------------------------------
TRINITY INDUSTRIES Cmn 896522109 563,063 19,800 X
-------------------------------------------------------------------------------------------------------------------------------
TRY 0% DEB DUE 2/9/18 CB 895927AB7 12,299,961 53,550 X
-------------------------------------------------------------------------------------------------------------------------------
UMG 50.000 STRIKE CALL 04/ Opt (C) 58440J104 11,050,000 4,000 X
-------------------------------------------------------------------------------------------------------------------------------
UNION CARBIDE Cmn 905581104 38,154,300 571,600 X
-------------------------------------------------------------------------------------------------------------------------------
UNION PAC CORP Cmn 907818108 8,265,675 189,200 X
-------------------------------------------------------------------------------------------------------------------------------
UNIONBANCAL CORP Cmn 908906100 2,062,581 52,300 X
-------------------------------------------------------------------------------------------------------------------------------
UNISYS Cmn 909214108 6,106,450 191,200 X
-------------------------------------------------------------------------------------------------------------------------------
UNITEDGLOBALCOM INC -CL A Cmn 913247508 254,250 3,600 X
-------------------------------------------------------------------------------------------------------------------------------
UNOCAL CORP Cmn 915289102 724,950 21,600 X
-------------------------------------------------------------------------------------------------------------------------------
US CELLULAR CORP Cmn 911684108 2,937,281 29,100 X
-------------------------------------------------------------------------------------------------------------------------------
US WEST INC Cmn 91273H101 142,084,800 1,973,400 X
-------------------------------------------------------------------------------------------------------------------------------
USINTERNETWORKING INC 7% CB 917311AE2 3,852,532 1,325 X
-------------------------------------------------------------------------------------------------------------------------------
USX CORP 6.75% CV PFD Pfd 902905793 758,901 108,725 X
-------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 229,362,524
-------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
--------------------------
(SEC USE ONLY)
--------------------------------------------------------------------------------
Item 8:
Item 1: Item 7: Voting Authority (Shares)
Name of Issuer Managers -------------------------------
See Instr.V (a) Sole (b) Shared (c) None
--------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
TRIBUNE CO n/a X
--------------------------------------------------------------------------------
TRINITY INDUSTRIES n/a X
--------------------------------------------------------------------------------
TRY 0% DEB DUE 2/9/18 n/a n/a
--------------------------------------------------------------------------------
UMG 50.000 STRIKE CALL 04/ n/a n/a
--------------------------------------------------------------------------------
UNION CARBIDE n/a X
--------------------------------------------------------------------------------
UNION PAC CORP n/a X
--------------------------------------------------------------------------------
UNIONBANCAL CORP n/a X
--------------------------------------------------------------------------------
UNISYS n/a X
--------------------------------------------------------------------------------
UNITEDGLOBALCOM INC -CL A n/a X
--------------------------------------------------------------------------------
UNOCAL CORP n/a X
--------------------------------------------------------------------------------
US CELLULAR CORP n/a X
--------------------------------------------------------------------------------
US WEST INC n/a X
--------------------------------------------------------------------------------
USINTERNETWORKING INC 7% n/a n/a
--------------------------------------------------------------------------------
USX CORP 6.75% CV PFD n/a n/a
--------------------------------------------------------------------------------
COLUMN TOTALS
--------------------------------------------------------------------------------
</TABLE>
<PAGE>
PAGE 39 OF 40
-- --
<TABLE>
<CAPTION>
FORM 13F
Name of Reporting Manager Citadel limited Partnership
-------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion
--------------------------------------
Name of Issuer Title of Class CUSIP Fair Maket Shares of (b)Shared
Number Value Principal (a) Sole As Defined (c)Shared-
Amount in Instr. V Other
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
VERITAS SOFTWARE 1.856% CB CB 92343RAA1 240,252,853 89,148 X
-------------------------------------------------------------------------------------------------------------------------------
VINTAGE PETROLEUM INC Cmn 927460105 1,275,006 105,700 X
-------------------------------------------------------------------------------------------------------------------------------
VISHAY INTERTECHNOLOGY Cmn 928298108 1,989,213 62,900 X
-------------------------------------------------------------------------------------------------------------------------------
WAL MART STORES INC Cmn 931142103 8,025,413 116,100 X
-------------------------------------------------------------------------------------------------------------------------------
WARNER LAMBERT CO Cmn 934488107 20,484,375 250,000 X
-------------------------------------------------------------------------------------------------------------------------------
WASHINGTON MUTUAL SAVINGS Cmn 939322103 996,188 38,500 X
-------------------------------------------------------------------------------------------------------------------------------
WASHINGTON POST -CL B Cmn 939640108 1,167,338 2,100 X
-------------------------------------------------------------------------------------------------------------------------------
WASTE MANAGEMENT Cmn 94106L109 1,688,053 98,214 X
-------------------------------------------------------------------------------------------------------------------------------
WATSON PHARMACEUTICALS Cmn 942683103 3,033,319 84,700 X
-------------------------------------------------------------------------------------------------------------------------------
WAUSAU MOSINEE PAPER Cmn 943315101 116,875 10,000 X
-------------------------------------------------------------------------------------------------------------------------------
WELLPOINT HLTH NETWRK Cmn 94973H108 3,784,813 57,400 X
-------------------------------------------------------------------------------------------------------------------------------
WESTERN DIGITAL Cmn 958102105 110,969 26,500 X
-------------------------------------------------------------------------------------------------------------------------------
WESTERN RESOURCES INC Cmn 959425109 829,938 49,000 X
-------------------------------------------------------------------------------------------------------------------------------
WHIRLPOOL CORP. Cmn 963320106 917,381 14,100 X
-------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 284,671,731
-------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
--------------------------
(SEC USE ONLY)
--------------------------------------------------------------------------------
Item 8:
Item 1: Item 7: Voting Authority (Shares)
Name of Issuer Managers -------------------------------
See Instr.V (a) Sole (b) Shared (c) None
--------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
VERITAS SOFTWARE 1.856% CB n/a n/a
--------------------------------------------------------------------------------
VINTAGE PETROLEUM INC n/a X
--------------------------------------------------------------------------------
VISHAY INTERTECHNOLOGY n/a X
--------------------------------------------------------------------------------
WAL MART STORES INC n/a X
--------------------------------------------------------------------------------
WARNER LAMBERT CO n/a X
--------------------------------------------------------------------------------
WASHINGTON MUTUAL SAVINGS n/a X
--------------------------------------------------------------------------------
WASHINGTON POST -CL B n/a X
--------------------------------------------------------------------------------
WASTE MANAGEMENT n/a X
--------------------------------------------------------------------------------
WATSON PHARMACEUTICALS n/a X
--------------------------------------------------------------------------------
WAUSAU MOSINEE PAPER n/a X
--------------------------------------------------------------------------------
WELLPOINT HLTH NETWRK n/a X
--------------------------------------------------------------------------------
WESTERN DIGITAL n/a X
--------------------------------------------------------------------------------
WESTERN RESOURCES INC n/a X
--------------------------------------------------------------------------------
WHIRLPOOL CORP. n/a X
--------------------------------------------------------------------------------
COLUMN TOTALS
--------------------------------------------------------------------------------
</TABLE>
<PAGE>
PAGE 40 OF 40
-- --
<TABLE>
<CAPTION>
FORM 13F
Name of Reporting Manager Citadel limited Partnership
-------------------------------------------------------------------------------------------------------------------------------
Item 6:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion
--------------------------------------
Name of Issuer Title of Class CUSIP Fair Maket Shares of (b)Shared
Number Value Principal (a) Sole As Defined (c)Shared-
Amount in Instr. V Other
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
WILLIAMETTE INDS INC Cmn 969133107 705,850 15,200 X
-------------------------------------------------------------------------------------------------------------------------------
WILLIAMS-SONOMA INC Cmn 969904101 2,875,000 62,500 X
-------------------------------------------------------------------------------------------------------------------------------
WIND RIVER 5% REG CB CB 973149AC1 12,787,606 10,075 X
-------------------------------------------------------------------------------------------------------------------------------
WMI 12,500 STRIKE PUT 01/1 Opt (P) 94106L109 467,188 2,300 X
-------------------------------------------------------------------------------------------------------------------------------
WORLD ACCESS 4.5% REG CB CB 98141AAC5 1,172,920 1,460 X
-------------------------------------------------------------------------------------------------------------------------------
XL CAPITAL LTD -CL A Cmn G98255105 3,071,000 59,200 X
-------------------------------------------------------------------------------------------------------------------------------
XPEDIOR INC Cmn 98413b100 1,150,000 40,000 X
-------------------------------------------------------------------------------------------------------------------------------
YAHOO! INC Cmn 984332106 3,288,425 7,600 X
-------------------------------------------------------------------------------------------------------------------------------
YHOO 150.00 STRIKE PUT 07/ Opt (P) 984332106 263,750 100 X
-------------------------------------------------------------------------------------------------------------------------------
YHOO 160.00 STRIKE PUT 07/ Opt (P) 984332106 1,482,188 450 X
-------------------------------------------------------------------------------------------------------------------------------
ZILA INCORPORATED Cmn 989513205 1,636,913 557,247 X
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 28,900,839
-------------------------------------------------------------------------------------------------------------------------------
LONG MARKET VALUE 5,829,773,409
-------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
--------------------------
(SEC USE ONLY)
--------------------------------------------------------------------------------
Item 8:
Item 1: Item 7: Voting Authority (Shares)
Name of Issuer Managers -------------------------------
See Instr. V (a) Sole (b) Shared (c) None
--------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
WILLIAMETTE INDS INC n/a X
--------------------------------------------------------------------------------
WILLIAMS-SONOMA INC n/a X
--------------------------------------------------------------------------------
WIND RIVER 5% REG CB n/a n/a
--------------------------------------------------------------------------------
WMI 12,500 STRIKE PUT 01/1 n/a n/a
--------------------------------------------------------------------------------
WORLD ACCESS 4.5% REG CB n/a n/a
--------------------------------------------------------------------------------
XL CAPITAL LTD -CL A n/a X
--------------------------------------------------------------------------------
XPEDIOR INC n/a X
--------------------------------------------------------------------------------
YAHOO! INC n/a X
--------------------------------------------------------------------------------
YHOO 150.00 STRIKE PUT 07/ n/a n/a
--------------------------------------------------------------------------------
YHOO 160.00 STRIKE PUT 07/ n/a n/a
--------------------------------------------------------------------------------
ZILA INCORPORATED n/a X
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
COLUMN TOTALS
--------------------------------------------------------------------------------
LONG MARKET VALUE
--------------------------------------------------------------------------------
</TABLE>
