FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 2002
Check here if Amendment [ x ]; Amendment Number: 1
This Amendment (Check only one.): [ x ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: CNA Financial Corporation
Address: CNA Plaza
Chicago,IL 60685
13F File Number: 28-346
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: Lynne Gugenheim
Title: Senior Vice President and Deputy General Counsel
Phone: (312) 822 4921
Signature, Place, and Date of Signing:
November 12,2002
Chicago, Illinois, 60685
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE
ACT OF 1934
Report Type (Check only one.):
[ X ] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
List of Other Managers Reporting for this Manager:
Assets reported herein are described as having shared
investment discretion among Loews Corporation, CNA
Financial Corporation,The Continental Corporation,
Continental Casualty Company and Continental Assurance
Company. Each of the foregoing entities specifically disclaims
ownership of any securities in this report which are not
beneficially owned by that entity and states that such
assets are solely under the control of its board of directors.
The characterization of shared investment discretion with parent
holding companies is made solely as a consequence of SEC
interpretations regarding control of the subsidiary through
share ownership. Loews Corporation owns approximately 90%
of the outstanding shares of CNA Financial Corporation;
CNA Financial Corporation owns 100% of the outstanding
shares of Continental Casualty Company and The Continental
Corporation; and Continental Casualty Company owns 100%
of the outstanding shares of Continental Assurance Company.
Loews Corporation will report separately on securities over which
it has investment discretion which are not part of this report.
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 4
Form 13F Information Table Entry Total: 324
Form 13F Information Table Value Total: 1,609,319.45 (in thousands)
List of Other Included Managers:
No. 13F File Number Name
1 28-172 The Continental Corporation
2 28-217 Loews Corporation
3 28-386 Continental Assurance Company
4 28-387 Continental Casualty Company
13F Information Table
CLASS VALUE OTHER PUT/ INVSTMT VOTING AUTHORITY
NAME OF ISSUER TITLE CUSIP (X1000) MGRS AMOUNT TYPE CALL DSCRETN SOLE SH NONE
ACCENTURE CL A G1150G111 3,500 4,2 131100 SH DEFINED 131100
ACME COMM INC COM 004631107 1,371 3,2 132595 SH DEFINED 132595
ACXIOM CORP COM 005125109 407 3,2 24800 SH DEFINED 24800
ADELPHIA COMM NOTE 006848BG9 5,524 4,2,1 7000000 PRN DEFINED
AETNA INC COM 00817Y108 2,030 2 52300 SH DEFINED 52300
AFFIL COMP SUBNTCV 008190AF7 3,465 3,2 2400000 PRN DEFINED
AFFILIATED COMP CL A 008190100 2,380 3,2 42400 SH DEFINED 42400
AGCO CORP COM 001084102 163 2 7125 SH DEFINED 7125
AGERE SYS INC-A CL A 00845V100 1,903 4,2 489100 SH DEFINED 489100
AGILENT TECH COM 00846U101 6,261 3,4,2 179100 SH DEFINED 179100
ALBERTA EN COM 012873105 3,156 4,2 71900 SH DEFINED 71900
ALCOA INC COM 013817101 5,586 3,4,2 148000 SH DEFINED 148000
ALLEGHENY EN INC COM 017361106 4,300 4,2 104000 SH DEFINED 104000
ALLSTATE CORP COM 020002101 778 3,2 20600 SH DEFINED 20600
ALLTEL CORP COM 020039103 5,583 4,2 100500 SH DEFINED 100500
AMBAC FIN GRP COM 023139108 6,498 3,4,2 110000 SH DEFINED 110000
AMERADA HESS COM 023551104 8,730 4,2 110000 SH DEFINED 110000
AMERICA ONLINE NOTE 02364JAC8 6,630 4,2 12450000 PRN DEFINED
AMERICAN EXPRESS COM 025816109 2,662 3,4,2 65000 SH DEFINED 65000
AMERICAN INTL GR COM 026874107 4,342 3,4,2 60190 SH DEFINED 60190
AMERICAN NAT INS COM 028591105 473 2 5000 SH DEFINED 5000
AMERICAN PHYS CAP COM 028884104 550 2 28200 SH DEFINED 28200
AMERISOURCEBERGEN COM 03073E105 2,808 3,2 41110 SH DEFINED 41110
AMGEN INC COM 031162100 10,432 3.4.2 174800 SH DEFINED 174800
AMN HEALTHCARE SER COM 001744101 404 4,2 15000 SH DEFINED 15000
ANADARKO PET COM 032511107 6,618 4,2 117250 SH DEFINED 117250
ANIXTER INTL INC COM 035290105 414 2 13975 SH DEFINED 13975
AON CORP COM 037389103 17,500 4,2 500000 SH DEFINED 500000
APACHE CORP COM 037411105 2,304 3,2 40500 SH DEFINED 40500
APPLIED MAT INC COM 038222105 3,528 3,2 65000 SH DEFINED 65000
ARDEN REALTY GROUP INC COM 039793104 1,005 4,2 35400 SH DEFINED 35400
ARRIS GROUP COM 04269Q100 372 4,2 40000 SH DEFINED 40000
ARVINMERITOR INC COM 043353101 416 2 14575 SH DEFINED 14575
AT & T CORPORATION COM 001957109 5,574 3,2 355001 SH DEFINED 355001
AT&T WRLESS SER COM 00209A106 662 4,2 73993 SH DEFINED 73993
ATLAS AIR WWHLDGS COM 049164106 645 4,2,1 49000 SH DEFINED 49000
AVAYA INC COM 053499109 759 3,4,2 102901 SH DEFINED 102901
AVAYA INC LYONZR 053499AA7 1,849 3,4,2 4500000 PRN DEFINED
BARNES & NOBLE INC COM 067774109 1,750 3,2 56480 SH DEFINED 56480
BEA SYSTEMS INC COM 073325102 679 3,2 49500 SH DEFINED 49500
BEA SYSTEMS INC SBCV 073325AD4 1,959 3,2 2350000 PRN DEFINED
BECKMAN COULTER INC COM 075811109 306 2 6000 SH DEFINED 6000
BECTON DICKINSON & CO COM 075887109 2,527 4,2 67000 SH DEFINED 67000
BEDFORD PPTY INV COMPR 076446301 146 4,2 5700 SH DEFINED 5700
BELLSOUTH CORP COM 079860102 2,580 4,2 70000 SH DEFINED 70000
BISYS GROUP SBCV 055472AB0 3,286 3,2 2650000 PRN DEFINED
BISYS GROUP INC/THE COM 055472104 1,791 3,2 50800 SH DEFINED 50800
BKF CAPITAL GROUP INC COM 05548G102 198 2 6625 SH DEFINED 6625
BOEING COMPANY COM 097023105 1,294 2 26825 SH DEFINED 26825
BORG WARNER AUTO COM 099724106 499 2 7925 SH DEFINED 7925
BOSTON PPTY COM 101121101 1,184 4,2 30000 SH DEFINED 30000
BOWNE & CO INC COM 103043105 437 2 31050 SH DEFINED 31050
BRANDYWINE REALTRST SHINTNW 105368203 471 4,2 19700 SH DEFINED 19700
BRISTOL-MYERS SQUIBB COM 110122108 5,073 4,2 125300 SH DEFINED 125300
BUCKHEAD AMERICA COM 11835A105 4 4,2 21579 SH DEFINED 21579
BURLINGTON RES INC COM 122014103 1,431 4,2 35700 SH DEFINED 35700
CABLEVISION SYS CLANYCBLVS 12686C109 6,018 4,2 177000 SH DEFINED 177000
CARDINAL HEALTH INC. COM 14149Y108 4,568 3,2 64437 SH DEFINED 64437
CARNIVAL CORP COM 143658102 12,283 3,4,2 376200 SH DEFINED 376200
CATELLUS DEVELOP COM 149111106 2,119 4,2 107724 SH DEFINED 107724
CBRL GROUP INC COM 12489V106 1,226 2 43600 SH DEFINED 43600
CELESTICA INC SUBVTGSHS 15101Q108 4,319 3,4,2 119100 SH DEFINED 119100
CELESTICA INC LYONZR 15101QAA6 10,535 3,4,2 24380000 PRN DEFINED
CENDANT CORP DEBT 151313AF0 10,126 3,4,2 14005000 PRN DEFINED
CENDANT CORP COM 151313103 6,348 3,4,2 330600 SH DEFINED 330600
CENTEX CORP COM 152312104 675 2 13000 SH DEFINED 13000
CEPHALON INC COM 156708109 1,827 2 29000 SH DEFINED 29000
CHARTER COMM INC SUBCV 16117MAB3 3,690 4,2 4200000 PRN DEFINED
CHARTER COMM-A CLA 16117M107 5,137 3,4,2 455000 SH DEFINED 455000
CHIRON CORP COM 170040109 11,055 3,4,2 240900 SH DEFINED 240900
CHIRON CORP LYONZR 170040AE9 29,963 3,4,2 54500000 PRN DEFINED
CISCO SYSTEMS INC COM 17275R102 4,063 3,2 240000 SH DEFINED 240000
CITIGROUP INC COM 172967101 8,567 3,4,2 173000 SH DEFINED 173000
CLEAR CHANNEL NOTE 184502AB8 3,057 4,2 3000000 PRN DEFINED
CLEAR CHANNEL NOTE 184502AE2 6,338 4,2 6500000 PRN DEFINED
CLEAR CHANNEL COM 184502102 2,828 3,4,2 55000 SH DEFINED 55000
CLEVELAND-CLIFFS INC COM 185896107 372 2 16925 SH DEFINED 16925
CNA SURETY CORP COM 12612L108 412,748 4,2,1 27425147 SH DEFINED 27425147
CNF INC COM 12612W104 1,622 2 49175 SH DEFINED 49175
COCA COLA CO COM 191216100 1,568 3,2 30000 SH DEFINED 30000
COLT TELECOM ADR 196877104 17 4,2 5760 SH DEFINED 5760
COMCAST CORP CLASPL 200300200 3,180 3,2 100000 SH DEFINED 100000
COMMUNICATION INTELL COM 20338K106 453 4,2 411600 SH DEFINED 411600
COMPUTER ASS INTL COM 204912109 1,385 2 63250 SH DEFINED 63250
CONOCO INC COM 208251504 4,640 4,2 159000 SH DEFINED 159000
CONSTELLATION ENGY COM 210371100 4,467 4,2 144800 SH DEFINED 144800
COOPER INDUSTRIES COM 216669101 1,558 2 37150 SH DEFINED 37150
CORRECTIONS CORP PFDCVB 22025Y308 0 4,2 2 SH DEFINED 2
CORRECTIONS CORPAM COMNEW 22025Y407 28 4,2 2120 SH DEFINED
CSX CORP. COM 126408103 4,497 4,2 118000 SH DEFINED 118000
CYTEC INDUSTRIES INC COM 232820100 1,167 2 38350 SH DEFINED 38350
DEL MONTE FOODS CO COM 24522P103 354 2 36375 SH DEFINED 36375
DELL COMPUTER CORP COM 247025109 2,089 3,2 80000 SH DEFINED 80000
DELPHI FINCL CL A 247131105 5,003 4,2 127600 SH DEFINED 127600
DELTA AIR INC COM 247361108 327 2 10000 SH DEFINED
DILLARDS INC-CL A CL A 254067101 761 2 31875 SH DEFINED 31875
DOLLAR THRIFTY AUTO COM 256743105 2,115 2 100000 SH DEFINED 100000
DOMINION RES INC COM 25746U109 1,629 3,4,2 25000 SH DEFINED
DR HORTON INC COM 23331A109 13,572 4,2 360000 SH DEFINED 360000
DU PONT DE NEM COM 263534109 472 4,2 10000 SH DEFINED 10000
DUKE POWER CO. WI 264399106 378 2 10000 SH DEFINED 10000
DYCOM IND INC COM 267475101 3,378 4,2 225934 SH DEFINED 225934
EATON VANCE COMNOVTG 278265103 4,243 3,4,2 106200 SH DEFINED 106200
ECHOSTAR COMM SBCV 278762AD1 533 3,2 590000 PRN DEFINED
ECHOSTAR COMM CL A 278762109 274 3,2 9685 SH DEFINED 9685
EL PASO CORP COM 28336L109 3,324 4,2 75500 SH DEFINED 75500
ELDERTRUST COMSHINT 284560109 1,645 4,2 208200 SH DEFINED 208200
ELEC DATA SYS SRCVZRO 285661AB0 20,425 3,4,2 26000000 PRN DEFINED
ELECTRONIC DATA SYS COM 285661104 13,952 3,4,2 240600 SH DEFINED 240600
ELI LILLY & CO COM 532457108 3,421 3,2 44900 SH DEFINED 44900
EMC CORP COM 268648102 6 4,2 480 SH DEFINED 480
ESTERLINE TECHCORP COM 297425100 527 2 25825 SH DEFINED 25825
FIRST CITIZENS BCSHSA CL A 31946M103 51 2 500 SH DEFINED 500
FIRST DATA CORP COM 319963104 4,799 3,2 55000 SH DEFINED 55000
FLEET BOSTON FINCL COM 339030108 700 4,2 20000 SH DEFINED 20000
FLEMING COS INC COM 339130106 1,396 3,2 62300 SH DEFINED 62300
FMC CORP (NEW) COMNEW 302491303 1,841 2 43925 SH DEFINED 43925
FMC TECH INC COM 30249U101 530 2 26600 SH DEFINED 26600
FOOT LOCKER INC COM 344849104 2,129 3,.2 131600 SH DEFINED 131600
FORD MOTOR COM 345370860 15,666 3,4,2 950000 SH DEFINED 950000
FORTUNE BRANDS COM 349631101 1,271 2 25750 SH DEFINED 25750
FPL GROUP COM 302571104 1,191 4,2 20000 SH DEFINED 20000
FREDDIE MAC COM 313400301 10,393 3,2 164000 SH DEFINED 164000
FREEPORT MCMORAN CLB 35671D857 1,390 2 78875 SH DEFINED 78875
FRONTLINE LTD. ORD G3682E127 2,854 4,2 250000 SH DEFINED 250000
GABLES RES TRUST SHINT 362418105 429 2 13825 SH DEFINED 13825
GEN SEMICONDUCTR NOTE 370787AB9 993 2 1000000 PRN DEFINED
GENENTECH INC COMNEW 368710406 1,986 3,4,2 39370 SH DEFINED 39370
GENERAL CABLE CO COM 369300108 216 2 15150 SH DEFINED 15150
GENERAL ELECTRIC COM 369604103 5,150 3,4,2 137510 SH DEFINED 137510
GENERAL MOTORS DEBSRCVB 370442733 34,163 3,4,2 1250000 PRN DEFINED
GENERAL MOTORS DEBSRCVA 370442741 18,564 3,4,2 700000 PRN DEFINED
GENERAL MOTORS COM 370442105 16,322 3,4,2 270000 SH DEFINED 270000
GENERAL MOTORS-HUGHES CLH 370442832 4,647 4,2 282500 SH DEFINED 282500
GENUITY INC-A CLA 37248E103 152 4,2 175000 SH DEFINED 175000
GEORGIA-PACIFIC CO COMGAPAC 373298108 598 2 19975 SH DEFINED 19975
GLIMCHER REALTY TRST SHINT 379302102 796 2 42900 SH DEFINED 42900
GREAT LAKES REIT INC COM 390752103 1,101 4,2 65000 SH DEFINED 65000
HARRIS CORP COM 413875105 359 2 10000 SH DEFINED 10000
HCA INC COM 404119109 3,526 3,2 80000 SH DEFINED 80000
HEALTH CARE PPTYS COM 421915109 1,338 4,2 33000 SH DEFINED 33000
HEALTH NET INC COM 42222G108 1,570 2 57225 SH DEFINED 57225
HEALTHCARE REALTY TRST COM 421946104 7,151 4,2 235525 SH DEFINED 235525
HEALTHSOUTH CORP SBCV 421924AF8 3,860 4,2 4000000 PRN DEFINED
HEALTHSOUTH CORP COM 421924101 8,969 4,2 625000 SH DEFINED 625000
HEARST-ARGYLE TEL COM 422317107 4,575 4,2 185000 SH DEFINED 185000
HERBALIFE INTL-CL B CL B 426908307 329 2 24100 SH DEFINED 24100
HERCULES INC COM 427056106 1,046 4,2 78600 SH DEFINED 78600
HEWLETT-PACKARD CO. COM 428236103 2,656 4,2 148075 SH DEFINED 148075
HILTON HOTELS CORP COM 432848109 358 4,2 25000 SH DEFINED 25000
HOME DEPOT COM 437076102 2,576 3,2 53000 SH DEFINED 53000
HONEYWELL INTL INC COM 438516106 2,296 3,2 60000 SH DEFINED 60000
HOUSEHOLD INTL INC COM 441815107 7,952 3,4,2 140000 SH DEFINED 140000
IMC GLOBAL INC COM 449669100 984 4,2 66700 SH DEFINED 66700
INGERSOLL RAND CO CL A G4776G101 1,501 4,2 30000 SH DEFINED 30000
INSWEB CORP COM 45809K202 600 4,2 117619.5 SH DEFINED 117619.5
INTEL CORP COM 458140100 2,104 3,2 69200 SH DEFINED 69200
IBM COM 459200101 23,991 3,4,2 230680 SH DEFINED 230680
INTERNATIONAL PAPER CO COM 460146103 4,301 4,2 100000 SH DEFINED 100000
INTERSTATE BAKERIES COM 46072H108 195 2 8050 SH DEFINED 8050
INTL RECTIFIER CORP COM 460254105 586 3,2 12900 SH DEFINED 12900
IONICS INC COM 462218108 962 4,2 30000 SH DEFINED 30000
IPC HOLDINGS LTD ORD G4933P101 706 4,2 21700 SH DEFINED 21700
IVAX CORP COM 465823102 971 3,2 60525 SH DEFINED 60525
IVAX CORP SRSBNTCV 465823AD4 2,148 3,2 2400000 PRN DEFINED
JOHNSON & JOHNSON COM 478160104 1,321 3,4,2 20340 SH DEFINED 20340
JOY GLOBAL INC COM 481165108 370 4,2 22700 SH DEFINED 22700
KELLWOOD CO COM 488044108 638 2 26250 SH DEFINED 26250
KENNAMETAL INC COM 489170100 404 2 10000 SH DEFINED 10000
KERR MC GEE CORP COM 492386107 8,799 4,2 140000 SH DEFINED 140000
KEY3MEDIA GROUP COM 49326R104 179 2 38950 SH DEFINED 38950
KEYSPAN CORP COM 49337W100 4,367 4,2 120000 SH DEFINED 120000
KINDRED HEALTHCARE INC COM 494580103 13 4.2 314 SH DEFINED 314
KULICKE & SOFFA SUBCV 501242AE1 3,748 3,2 3450000 PRN DEFINED
KULICKE & SOFFA INDUST COM 501242101 2,193 3,2 105400 SH DEFINED 105400
L-3 COMMUNICATIONS COR COM 502424104 2,617 3,2 23370 SH DEFINED 23370
LABORATORY CRP OF AMER COMNEW 50540R409 9,366 3,4,2 97700 SH DEFINED 97700
LAM RESEARCH CORP COM 512807108 804 3,2 27430 SH DEFINED 27430
LAMAR ADVERTISIN NTCV 512815AF8 2,978 3,2 2800000 PRN DEFINED
LAMAR ADVERTISING CO CL A 512815101 1,586 3,2 39050 SH DEFINED 39050
LATTICE SEMICOND SUBCV 518415AC8 2,618 3,2 2450000 PRN DEFINED
LATTICE SEMICONDUCTOR COM 518415104 1,557 3,2 88800 SH DEFINED 88800
LEAR CORP COM 521865105 1,270 2 26675 SH DEFINED 26675
LIBERTY MEDIA COMA 530718105 17,039 3,4,2 1348048 SH DEFINED 1348048
LINCOLN NATL CORP INDI COM 534187109 4,566 4,2 90000 SH DEFINED 90000
LOCKHEED MARTIN CORP COM 539830109 2,706 3.2 47000 SH DEFINED 47000
LONGVIEW FIBRE CO COM 543213102 1,980 4,2 192200 SH DEFINED 192200
LORAL SPACE & COMM COM G56462107 407 4,2 189400 SH DEFINED 189400
LOWES COMPANIES NOTE 548661CG0 19,035 3,4,2 20000000 PRN DEFINED
LOWE'S COS INC COM 548661107 8,902 3,4,2 204680 SH DEFINED 204680
LSI CORP COM 502161102 542 3,2 31900 SH DEFINED 31900
LSI LOGIC SBCV 502161AD4 1,055 3,2 910000 PRN DEFINED
LUBRIZOL CORP COM 549271104 1,382 2 39725 SH DEFINED 39725
LUCENT TECHNOLOGIES COM 549463107 10,231 3,4,2 2163000 SH DEFINED 2163000
MARATHON OIL CORP COM 565849106 6,843 3,4,2 237600 SH DEFINED 237600
MBIA INC COM 55262C100 1,367 4,2 25000 SH DEFINED 25000
MEDTRONIC INC COM 585055106 6,465 3,4,2 143000 SH DEFINED 143000
MERRILL LYNCH & CO INC COM 590188108 8,800 3,4,2 158900 SH DEFINED 158900
METLIFE INC COM 59156R108 6,804 4,2 216000 SH DEFINED 216000
MICRON TECHNOLOGY INC COM 595112103 1,810 3,2 55000 SH DEFINED 55000
MICROSOFT CORP COM 594918104 3,317 3,4,2 55000 SH DEFINED 55000
MILACRON INC COM 598709103 623 2 42675 SH DEFINED 42675
MONSANTO CO COM 61166W101 528 2 16725 SH DEFINED 16725
MORGAN STANLEY DEAN WI COMNEW 617446448 30 4,2 520 SH DEFINED 520
MORGAN STANLEY INDIA I COM 61745C105 779 4,2 78026 SH DEFINED 78026
MSDW ASIA PACIFIC FUND COM 61744U106 2,855 4,2 335900 SH DEFINED 335900
NABORS INDS INC DBCV 629568AF3 8,623 4.2 15000000 PRN DEFINED
NABORS INDUSTRIES INC COM 629568106 380 3,2 9000 SH DEFINED 9000
NACCO INDUSTRIES-CL A CL A 629579103 602 2 9075 SH DEFINED 9075
NATIONWIDE FINANCIAL S CL A 638612101 2,140 4,2 50000 SH DEFINED 50000
NEIMAN MARCUS GROUP CL B 640204301 223 4,2 6800 SH DEFINED 6800
NEWHALL LAND & FARMING DEPREC 651426108 4,085 4,2 130500 SH DEFINED 130500
NEWMONT MINING CORP HL COM 651639106 4,984 4,2 180000 SH DEFINED 180000
NEWS AMER INC NOTE 652482AZ3 21,933 3,4,2 46500000 PRN DEFINED
NEWS CORP LTD ADRNEW 652487703 568 4,2 20000 SH DEFINED 20000
NEWS CORP LTD ADRPFD 652487802 10,111 3,4,2 421300 SH DEFINED 421300
NIKE INC CL B CL B 654106103 2,100 3.2 35000 SH DEFINED 35000
NOKIA CORP ADR 654902204 1,037 3,2 50000 SH DEFINED 50000
NORFOLK SOUTHERN CORP. COM 655844108 13,526 4,2 565000 SH DEFINED 565000
NORTH FORK BANCORPORAT COM 659424105 3,556 4,2 100000 SH DEFINED 100000
NOVELLUS SYSTEMS NOTE 670008AB7 4,118 3,4,2 4000000 PRN DEFINED
NOVELLUS SYSTEMS INC COM 670008101 260 3,4,2 4800 SH DEFINED 4800
NVIDIA CORP COM 67066G104 1,850 3,2 41700 SH DEFINED 41700
NVIDIA CORP SBNTCV 67066GAA2 2,728 3,2 2250000 PRN DEFINED
OCEAN ENERGY INC COM 67481E106 960 2 48500 SH DEFINED 48500
OLD REPUBLIC INTL CORP COM 680223104 8,210 3,4,2 256800 SH DEFINED 256800
OMNICOM GROUP COM 681919106 4,843 3,4,2 51300 SH DEFINED 51300
OMNICOM GROUP NOTE 681919AK2 24,714 3,4,2 24000000 PRN DEFINED
ON COMMND CLB WTS WTBEX 682160122 23 4,2 123130 SH CALL DEFINED 123130
OWENS-ILL INC PFDCONV 690768502 528 4,2 20500 SH DEFINED 20500
PALL CORP COM 696429307 2,049 4,2 100000 SH DEFINED 100000
PATHMARK STORES INC COM 70322A101 17,590 4,2 734432 SH DEFINED 734432
PAXSON COMMUNICATIONS COM 704231109 578 4,2 52700 SH DEFINED 52700
PAYCHEX INC COM 704326107 22 4,2 560 SH DEFINED 560
PAYLESS SHOESOURCE INC COM 704379106 1,731 2 28350 SH DEFINED 28350
PEABODY ENERGY CORP COM 704549104 2,027 3,2 70000 SH DEFINED 70000
PEPSI BOTTLING GROUP I COM 713409100 5,174 4,2 200000 SH DEFINED 200000
PEPSICO INCORPORATED COM 713448108 4,223 3,2 82000 SH DEFINED 82000
PERFORMANCE FOOD SUBNTCV 713755AA4 3,159 3,2 2600000 PRN DEFINED
PERFORMANCE FD GRP COM 713755106 2,125 3,2 65050 SH DEFINED 65050
PFIZER INC COM 717081103 5,285 3,2 133000 SH DEFINED 133000
PHARMACIA CORP COM 71713U102 5,193 4,2 115200 SH DEFINED 115200
PHILLIPS PET CO COM 718507106 2,917 3,4,2 46450 SH DEFINED 46450
PHOENIX CO INC COM 71902E109 2,304 4,2 120000 SH DEFINED 120000
PIONEER STNDRD ELEC COM 723877106 484 2 34225 SH DEFINED 34225
PLACER DOME INC COM 725906101 1,153 4,2 94130 SH DEFINED 94130
PLUM CREEK TIMBER COM 729251108 1,486 4,2 50000 SH DEFINED 50000
POTOMAC ELEC POW COM 737679100 381 4,2 16300 SH DEFINED 16300
PPL CORPORATION COM 69351T106 3,169 4,2 80000 SH DEFINED 80000
PRECISION DRILLING COR COM 74022D100 1,061 2 33200 SH DEFINED 33200
PRESIDENTIAL LIFE CORP COM 740884101 187 2 8225 SH DEFINED 8225
PRIME HOSPITALITY CORP COM 741917108 84 3,4,2 6375 SH DEFINED 6375
PROSPECT STREET INCOME COM 743590101 1,059 4,2 157063.99 SH DEFINED 157063.99
PROVINCE HEALTHC SBNTCV 743977AC4 1,915 3,2 1850000 PRN DEFINED
PROVINCE HEALTHCARE CO COM 743977100 1,029 3,2 32400 SH DEFINED 32400
PRUDENTIAL FINANCIAL I COM 744320102 5,946 4,2 191500 SH DEFINED 191500
PUBLIC SVC CO N MEX CO COM 69349H107 566 2 18450 SH DEFINED 18450
PULTE CORP COM 745867101 9,379 3,4,2 196000 SH DEFINED 196000
QUALCOMM INC COM 747525103 2,070 3,2 55000 SH DEFINED 55000
QUANTUM CORP-DLT & STO COM DSSG 747906204 943 2 118500 SH DEFINED 118500
QWEST COMMUNICATIONS I COM 749121109 1,644 4,2 200000 SH DEFINED 200000
R.H. DONNELLEY CORP COMNEW 74955W307 520 2 17100 SH DEFINED 17100
RADIAN GROUP INC COM 750236101 1,229 2 25050 SH DEFINED 25050
RAYTHEON COMPANY COMNEW 755111507 3,235 4,2 78800 SH DEFINED 78800
REGENERON PHARM NOTE 75886FAB3 2,750 4,2 2600000 PRN DEFINED
REPUBLIC BANCORP COM 760282103 419 2 29955 SH DEFINED 29955
SARA LEE CORP COM 803111103 852 2 41025 SH DEFINED 41025
SCANA CORP COM 80589M102 14,596 4,2 477000 SH DEFINED 477000
SCHLUMBERGER LIMITED COM 806857108 3,447 3,2 58600 SH DEFINED 58600
SCUDDER INTERMEDIATE GSH BEN INT 811163104 1,022 4,2 149800 SH DEFINED 149800
SEMTECH CORP SBNTCV 816850AD3 2,643 3,2 2400000 PRN DEFINED
SENIOR HOUSING PROP TR SHINT 81721M109 432 4,2 30000 SH DEFINED 30000
SERVICEMASTER COMPANY COM 81760N109 1,035 2 75250 SH DEFINED 75250
SHERWIN WILLIAMS CO COM 824348106 965 2 33875 SH DEFINED 33875
SIERRA PACIFIC RESOURC COM 826428104 413 2 27375 SH DEFINED 27375
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SLI INC COM 78442T108 16 2 6100 SH DEFINED 6100
SOUTHTRUST CORP COM 844730101 405 2 15325 SH DEFINED 15325
SPANISH BROADCASTING S CLA 846425882 3,317 4,2 244800 SH DEFINED 244800
SPRINT CORP(PCS) EU 852061605 21,483 3,4,2 1540000 SH DEFINED 1540000
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STARBUCKS CORP COM 855244109 1,619 2 70000 SH DEFINED 70000
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SUN MICROSYSTEMS INC COM 866810104 15 3,4,2 1650 SH DEFINED 1650
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TEJON RANCH COM 879080109 1,167 4,2 37300 SH DEFINED 37300
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TRIZECHAHN CORP SUBVTG 896938107 3,094 4,2 195425 SH DEFINED 195425
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